Network Capital Funding Corporation

Mortgage relief deal reached as holdout states join in

noreply@blogger.com (networkcapital) — Thu, 09 Feb 2012 21:04:00 +0000

Mortgage relief deal reached as holdout states join in

New Refinancing Rules Can Save Homes From Foreclosure

noreply@blogger.com (networkcapital) — Thu, 19 Jan 2012 16:21:00 +0000

http://networkcapitalfunding.blogspot.com/2012/01/new-refinancing-rules-can-save-homes.html

New Refinancing Rules Can Save Homes From Foreclosure

noreply@blogger.com (networkcapital) — Wed, 18 Jan 2012 21:02:00 +0000

Source: http://wusa9.com/news/article/185453/187/New-Refinancing-Rules-Can-Save-Homes-From-Foreclosure

http://onlywire.com/r/67263556

WASHINGTON, DC (WUSA) -- Families have been stuck between a rock and a hard place; their mortgage is too expensive, and even though interest rates are around record lows, they can't refinance their mortgages because the loan is now bigger than the home is

noreply@blogger.com (networkcapital) — Wed, 18 Jan 2012 21:02:00 +0000

Just when it seemed that mortgage rates couldn't go any lower, they set another record low this week. In fact, rates on 30-year, fixed-rate loans have stayed below 4% for six straight weeks.

noreply@blogger.com (networkcapital) — Fri, 13 Jan 2012 17:32:00 +0000

Mortgage Rates for 30-Year U.S. Loans Fall to Record-Low 3.89%

noreply@blogger.com (networkcapital) — Fri, 13 Jan 2012 17:29:00 +0000

Mortgage Rates for 30-Year U.S. Loans Fall to Record-Low 3.89% Jan. 12 (Bloomberg) -- Rates for 30-year U.S. mortgages fell to the lowest level on record after Federal Reserve Chairman Ben S. Bernanke urged lawmakers to do more to revive housing. The average rate for a 30-year fixed loan decreased to 3.89 percent in the week ended today, the lowest in records dating to 1971, from 3.91 percent, Freddie Mac said in a statement. The average 15-year rate dropped to 3.16 percent from 3.23 percent, according to the McLean, Virginia-based mortgage-finance company.

http://network-capital.blogspot.com/#!/2012/01/mortgage-rates-for-30-year-us-loans.html

Jan. 12 (Bloomberg) -- Rates for 30-year U.S. mortgages fell to the lowest level on record after Federal Reserve Chairman Ben S. Bernanke urged lawmakers to do more to revive housing.

noreply@blogger.com (networkcapital) — Fri, 13 Jan 2012 17:29:00 +0000

Mortgage Rates for 30-Year U.S. Loans Fall to Record-Low 3.89%

noreply@blogger.com (networkcapital) — Fri, 13 Jan 2012 17:23:00 +0000

Jan. 12 (Bloomberg) -- Rates for 30-year U.S. mortgages fell to the lowest level on record after Federal Reserve Chairman Ben S. Bernanke urged lawmakers to do more to revive housing.

The average rate for a 30-year fixed loan decreased to 3.89 percent in the week ended today, the lowest in records dating to 1971, from 3.91 percent, Freddie Mac said in a statement. The average 15-year rate dropped to 3.16 percent from 3.23 percent, according to the McLean, Virginia-based mortgage-finance company.

Bernanke, in a 26-page report to Congress last week, called the weakness in the property market a “significant barrier” to U.S. economic health and outlined possible ways to clear the glut of foreclosed properties, protect homeowners from default and help borrowers take advantage of low borrowing costs. While home prices continue to decline, demand is picking up amid improving consumer confidence and employment data.

“There's a general economic improvement that is serving to promote home sales, and the low and stable mortgage rate environment plays into that very well,” said Keith Gumbinger, vice president of HSH Associates, a loan-data firm in Pompton Plains, New Jersey.

The U.S. unemployment rate unexpectedly fell to 8.5 percent in December, the lowest since February 2009, the Labor Department said last week. Confidence among consumers rose to an eight-month high, the Conference Board said Dec. 27.

Home Sales

New-home sales jumped to a seven-month high in November, according to Commerce Department figures released Dec. 23. Sales of existing homes rose in November to a 10-month high, the National Association of Realtors said Dec. 21.

Home-loan applications climbed 4.5 percent in the period ended Jan. 6, according to a Mortgage Bankers Association index. The Washington-based group's measure of purchases rose 8.1 percent from a three-month low, while its refinancing index increased 3.3 percent.

--Editors: Christine Maurus, Steven Crabill

Source:
http://news.businessweek.com/article.asp?documentKey=1376-LXNKU56VDKHS01-0GK8HO4B447C5AO5CM8V49096F

New record mortgage rate lows

noreply@blogger.com (networkcapital) — Fri, 13 Jan 2012 17:18:00 +0000

What the Fed gives in low rates, though, Congress is taking away by raising fees to fund recent payroll tax reduction.

By MSN Money partner on Thu, Jan 12, 2012 6:55 PM

This post comes from Marilyn Lewis at MSN Money.

Just when it seemed that mortgage rates couldn't go any lower, they set another record low this week. In fact, rates on 30-year, fixed-rate loans have stayed below 4% for six straight weeks.

However, financing fees are going up, sapping some of the sweetness from low rates.

First, the rates. Freddie Mac says its weekly Primary Mortgage Market Survey found that consumers this week paid an average of:

3.89% (with an average 0.7 point) for 30-year, fixed-rate mortgages. Last week was the previous record, at 3.91%. Last year at this time, people were paying 4.71%.
3.16% (an average 0.8 point) for 15-year, fixed-rate mortgages. Last week, 15-year loans averaged 3.23%, and a year ago at this time they were at 4.08%. This week's average broke a record low of 3.21%, set during the week of Dec. 22.

Mortgage applications rose 4.5% for the week, with 81% due to refinancing, says HousingWire.

"The Fed says it will keep the key federal funds rate near zero until mid-2013 and continues to reinvest in long-term securities to help keep rates low," writes Bankrate.

Rising fees
Rising fees, however, are taking away some of the benefit. You'll see an increase in the "guarantee fee" charged on loans eligible for sale to Fannie Mae and Freddie Mac.

The bottom line: Roughly $300 more per year on a $300,000 mortgage, says this blog post at Total Mortgage Services.

Mortgage blogger Dan Green puts the increased fees at about $10 per month per $100,000 borrowed. He wrote, "In places like San Francisco or Arlington, Virginia, where local jumbo loan limits reach as high as $625,500 and $729,750 for conventional and FHA mortgages, respectively, mortgagors should expect to pay as much as $73 more each month."

The source of the increase: Congress.

Remember the two-month payroll tax reduction that Congress passed before Christmas, along with a two-month extension of unemployment benefits? That money -- nearly $36 billion -- has to come from somewhere. Explains National Mortgage Servicing News:

The lawmakers relied on a 10-year increase in Fannie and Freddie g-fees to cover most of the costs of the legislation that extended the payroll tax reduction along with unemployment benefits for two months.

... additional g-fee increases may be coming, according to FHFA acting director Edward DeMarco.

Mortgage experts predict increases in loan prices of 20 to 80 basis points -- about 0.125% to 0.25% in added interest charges -- from the fee hike.

"Low rates don't matter if high costs wipe them out," writes blogger Green, who lists four other government-mandated mortgage fee hikes since 2008.

A Wall Street Journal writer says of the payroll tax move, "My guess is Congress eventually will extend this law to apply to all of 2012." Post continues below.

Timing, and other new roadblocks
Bankrate says:

The hike doesn't take effect until April 1, but lenders have already started to pass the extra cost on to borrowers.

Lenders want to make sure they are not stuck with the bill if there are delays selling mortgages to Fannie or Freddie that push the transfers past April 1.

Worried about timing? Bankrate source John Walsh, president of Total Mortgage in Milford, Conn., figures borrowers still have "a couple weeks" to get a 30-day rate lock before the new costs take hold. In other words, get moving.
Although the Federal Reserve is holding mortgage rates down in order to stimulate the economy, other obstacles to home borrowing are cropping up:

FHA premiums. Congress told the Federal Housing Administration to hike mortgage insurance premiums on FHA loans. "Mortgage experts say they expect (that) to happen by April," Bankrate says.
Roadblock for vets. Veterans are having a hard time qualifying to buy new homes because of stringent VA loan requirements, reports John Burns Real Estate Consulting:

More builders are shying away from selling homes to Vets because VA appraisers have become so conservative that the homes rarely close. In addition, the low appraisals impact the value of future community sales, costing the builders significant money. Particularly disturbing are some of the VA procedures that make it difficult to challenge mistakes, as well as the impact the appraisals are having on other homes available for sale in the community.

The point of the rules was to protect vets from overpaying, but Burns vice president Jody Kahn says the process has become "broken."

Source:
http://money.msn.com/home-loans/article.aspx?post=9e89e188-e870-4cb8-98ee-ed0fba1d7cea

Inc. Magazine Unveils 30th Annual List of America's Fastest-Growing Private Companies--the Inc. 500

noreply@blogger.com (networkcapital) — Wed, 11 Jan 2012 21:36:00 +0000

Irvine, Jan. 11, 2012 (GLOBE NEWSWIRE) -- Inc. magazine today ranked NETWORK CAPITAL NO. 46 on its 30th annual Inc. 500, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy--America's independent entrepreneurs. Companies such as Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many other well-known names gained early exposure as members of the Inc. 500.

http://finance.yahoo.com/news/inc-magazine-unveils-30th-annual-172515740.html

Irvine, Jan. 11, 2012 (GLOBE NEWSWIRE) -- Inc. magazine today ranked NETWORK CAPITAL NO. 46 on its 30th annual Inc. 500, an exclusive ranking of the nation's fastest-growing private companies.

noreply@blogger.com (networkcapital) — Wed, 11 Jan 2012 21:36:00 +0000

Inc. Magazine Unveils 30th Annual List of America’s Fastest-Growing Private Companies—the Inc. 500

noreply@blogger.com (networkcapital) — Mon, 09 Jan 2012 16:09:00 +0000

http://networkcapitalfunding.blogspot.com/2012/01/inc-magazine-unveils-30th-annual-list.html

Inc. Magazine Unveils 30th Annual List of America’s Fastest-Growing Private Companies—the Inc. 500

noreply@blogger.com (networkcapital) — Fri, 06 Jan 2012 23:54:00 +0000

NEW YORK, August 23, 2011 -- Inc. magazine today ranked NETWORK CAPITAL NO. 47 on its 30th annual Inc. 500, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Companies such as Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many other well-known names gained early exposure as members of the Inc. 500.

http://networkcapitalfunding.blogspot.com/2012/01/inc-magazine-unveils-30th-annual-list.html

Inc. Magazine Unveils 30th Annual List of America’s Fastest-Growing Private Companies—the Inc. 500

noreply@blogger.com (networkcapital) — Fri, 06 Jan 2012 23:54:00 +0000

Ranked as one of America's Fastest Growing Companies in 2010

noreply@blogger.com (networkcapital) — Fri, 06 Jan 2012 23:52:00 +0000

Mortgage Rates Hold Near Lows

noreply@blogger.com (networkcapital) — Fri, 06 Jan 2012 16:22:00 +0000

http://networkcapitalfunding.blogspot.com/2012/01/mortgage-rates-hold-near-lows.html

Mortgage Rates Hold Near Lows

noreply@blogger.com (networkcapital) — Fri, 06 Jan 2012 01:25:00 +0000

Mortgage Rates Set New Record Low

noreply@blogger.com (networkcapital) — Fri, 06 Jan 2012 00:32:00 +0000

http://networkcapitalfunding.blogspot.com/2012/01/mortgage-rates-set-new-record-low.html

Mortgage Rates Set New Record Low

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 17:33:00 +0000

Source: http://www.housingpredictor.com/2011/mortgage-rates-set-new-record-low.html

http://networkcapitalfunding.blogspot.com/2012/01/mortgage-rates-set-new-record-low.html#!/2012/01/mortgage-rates-set-new-record-low.html

Mortgage Rates Set New Record Low

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 17:32:00 +0000

U.S. Mortgage Rates End Year at 3.95 Percent, Near Historic Low: Freddie Mac - International Business Times

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 17:32:00 +0000

The average mortgage rate has been at or below 4 percent for nine consecutive weeks.

http://onlywire.com/r/65398246

Mortgage Finance Act of 2011 Aims To Recreate Secondary Market

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 17:32:00 +0000

Mortgage demand fell at year-end, purchases sag

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 16:44:00 +0000

Average 30-year conforming mortgage rates dipped to the year's low of 4.07 percent from 4.10 percent the prior week, and well below 4.82 percent at the end of 2010.

http://network-capital.blogspot.com/2012/01/mortgage-demand-fell-at-year-end.html

Low Mortgage Rates Available

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 16:44:00 +0000

(Reuters) - Demand for loans to buy homes and refinance mortgages slid in the final week of 2011, even as mortgage rates dipped, an industry group said on Wednesday.

noreply@blogger.com (networkcapital) — Thu, 05 Jan 2012 16:38:00 +0000