The problem in the nation’s housing market now isn’t subprime lending. It’s subpar lenders.

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David Goodhue – AHN News Reporter
Boston, MA, United States (AHN) – In Massachusetts, a state which has a statewide healthcare law that was the model for the federal law pushed by the Obama administration, the rate of personal bankruptcies caused by medical bills actually rose since the law was enacted in 2006. Both the Massachusetts and federal healthcare laws require people to buy health insurance. When President Barack Obama was promoting the bill in Congress, he said it was aimed at significantly reducing medical bankruptcies nationwide. But if Massachusetts is a harbinger, this may not happen. Researchers with City University of New York and Ohio University [...] Continue Reading…

Staffing at NetMore America Inc. has been “substantially” reduced, the company’s founder said. The move is part of a new partnership with a group that will take over “the heavy lifting” on the funding of loans. The changeover was brought on by the continued volatility in the market, he [...] Continue Reading…

Mortgage Market Index for the week ended March 4 was 206, marginally higher than 203 in last week’s report. The index from Mortech Inc. and MortgageDaily.com was 245 during the same week last year. Behind the weekly improvement was a 4 percent increase in purchase activity, while refinance transactions [...] Continue Reading…

Santa Cruz, CA, United States (AHN) – The U.S. Consumer Product Safety Commission and Health Canada, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product. Name of Product: OBall Links & Mini Rattles™ Units: About 14,000 in the United States and 14,000 in Canada Importer: Rhino Toys Inc., of Santa Cruz, Calif. Hazard: The hard plastic C-links on both ends of the rattles’ soft plastic chain can break, posing a choking hazard to young [...] Continue Reading…

The Association of Mortgage Investors released a statement about a potential settlement between mortgage servicers and state attorneys general. The statement was issued to address news reports about an investigation into alleged misconduct at mortgage servicers. The AMI said that Congress must give priority to the issue of defective [...] Continue Reading…

Kris Alingod – AHN News Contributor
Indianapolis, IN, United States (AHN) – Indiana Secretary of State Charlie White will not resign following his indictment late Thursday on felony charges of voter fraud, theft for receiving a salary as a town council member despite living somewhere else, and lying under oath to get a mortgage loan. “I believe the evidence will prove that I did not intentionally break any laws,” White told the Indianapolis Star after being booked and released from the Hamilton County Jail. “I will continue to do the job I was elected to do,” added the Republican, who took office in January. “I am humbled by [...] Continue Reading…

At banks and thrifts, commercial mortgage delinquency of at least 90 days fell 22 basis points in the fourth quarter, the Mortgage Bankers Association reported. But late paymens on commercial mortgage-backed securities jumped 37 BPS from the third quarter. Freddie Mac’s multifamily rate retreated in the fourth quarter and [...] Continue Reading…