With the number of home foreclosures continuing to rise, the Department of Housing and Urban Development has created a Fair Lending Division to review lending practices.It will investigate complaints against lenders who might have violated the Fair Housing Act by refusing mortgage loans, refusing to provide the same information regarding loans or imposing different terms or conditions for granting a loan."Lending cases are complex and require extensive resources to review and compare mountains of loan data," said Kim Kendrick, Housing and Urban Development assistant secretary for Fair Housing and Equal Opportunity. "The addition of the Fair Lending Division will allow the department to enhance the quality and speed of the investigations."The division will also conduct oversight investigations into Fannie Mae and Freddie Mac to ensure their underwriting policies and practices comply with fair lending laws.Home foreclosures in Clay and Platte Counties, as well as the Kansas City area, are well ahead of a year ago, and are likely to reach record highs this year.Counseling services are also getting inquiries from homeowners who are on the brink of foreclosure and looking for a way to save their homes.At ACORN Housing in Kansas City, the number of persons seeking help because of threatened foreclosures have risen from 10 a year to 10 a month, according to Carmen Blatt, the office director.The Community Services League has received an increasing number of calls from homeowners stuck in adjustable rate mortgage loans they can't pay."We have one client who has a $250,000 home," said Bruce Bailey, director of housing for the league.

Technology Credit Union Appoints Steve Donahue as New AVP of ...

SAN JOSE - Technology Credit Union has announced the appointment of Steve Donahue as its new AVP of Mortgage Origination. Donahue brings with him an impressive background that spans more than 25 years in the mortgage business encompassing a variety of financial service organizations, including credit unions, banks and savings and loans. At Tech CU, he will be responsible for overseeing the credit union's mortgage origination department and increasing its $725,000,000 mortgage loan portfolio.

"Steve's extensive experience and expertise in the mortgage industry, particularly in loan origination, will be a valuable asset to us as we continue to grow in this line of business and introduce new products for our members," said Ken Burns, President/CEO of Tech CU.

Prior to joining Tech CU, Donahue served as Real Estate Loan Manager for Valley Credit Union, where he helped to launch their real estate loan department, growing it to more than $140 million in assets in just 5 years and making it the most profitable department in the credit union.

California Debt Consolidation Loan For Those with Bad Credit ...

2007-07-13 02:52:20 - California debt consolidation loan for those with bad credit problems can save money immediately. Use home equity to pay off credit cards and car loans.

Many homeowners in California wait until they are 30, 60 or even 90 days behind in their mortgage payments before they even consider a debt consolidation loan. If they are this late with their home mortgage loan payment they are generally further behind with the car and credits cards. A simple and California debt consolidation loan can reduce payments immediately .