FreedomWide.com- Mortgage & Real Estate Headlines

AP LOS ANGELES - More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide ... More... (Foreclosure News, Education, and Updates, Mortgage News)

President George W. Bush predicted last August that a plan introduced by the administration to assist American borrowers trying to cope with adjustable-rate mortgages would help tens of thousands of people. Mortgage industry executives were skeptical, ... More... (Mortgage News)

Mortgage finance firm cuts quarterly dividend as it moves to shore-up capital in the face of losses. NEW YORK (CNNMoney.com) -- Mortgage financer Fannie Mae warned Tuesday that the tumbling home values and loan defaults that ... More... (Mortgage Lender & Broker News, Mortgage News)

Finance company GMAC LLC, which is partly owned by General Motors Corp., is negotiating terms of a a $3.5 billion loan for its struggling mortgage subsidiary Residential Capital LLC to keep it out of bankruptcy ... More... (Mortgage Lender & Broker News, Mortgage News)

Mortgage lender Countrywide Financial Corp (CFC.N: Quote, Profile, Research) on Tuesday defended its treatment of borrowers who have filed for bankruptcy and pledged to hire an independent auditor to review the company's practices. "This type of ... More... (Mortgage Lender & Broker News, Mortgage News)

In California, the number of severely delinquent mortgage accounts increased 35 percent IRVINE, Calif., April 30 /PRNewswire-FirstCall/ -- Many U.S. homeowners continue to weather the current credit crunch and real estate market conditions, as ... More... (Mortgage News)

AP LOS ANGELES (AP) — Countrywide Financial Corp. said Tuesday it lost $893 million in the first quarter, as rising loan defaults amid a deepening housing downturn forced the nation's largest mortgage lender and servicer to ... More... (Mortgage Lender & Broker News, Mortgage News)

Existing home sales fall for seventh time in the past 8 months as housing slump continues WASHINGTON (AP) -- Sales of existing homes fell in March, the seventh drop in the past eight months, as the ... More... (Real Estate News)

The Associated Press CLEVELAND (AP) — National City Corp., a largely Midwestern bank reeling from steep mortgage losses, said Monday it had secured a $7 billion cash infusion from equity investors but slashed its dividend and ... More... (Mortgage Lender & Broker News, Mortgage News)

The Associated Press Legislation by Rep. Barney Frank, D-Mass., the House Financial Services Committee chairman, would relax the Federal Housing Administration's underwriting standards to allow the hardest-pressed homeowners to qualify for government-backed loans. That includes people ... More... (Mortgage News)