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Unfortunately, the committee also voted along party lines to pass a bill, HB 5176, that would shorten Michigan's longstanding six-month Post-Foreclosure Redemption Period to three months for homeowners whose mortgages are what are commonly ...

Guest commentary: Don't cut time allowed for making good on certain mortgages

A Michigan bill would cut in half the redemption period allowed after a foreclosure sale to 90 days for certain loans. The bill would change the time allotted to buy back foreclosed homes under portfolio loans, defined in the bill as mortgages ...

Michigan bill cuts redemption period for portfolio mortgages

The key adjustable rate mortgage, the 5-year ARM in Michigan, has decreased since the beginning of the year from 3.72% on Jan. 7 to the current week's average of 3.39%, a drop of 33 basis points. Since our last report, rates have not changed ...

Michigan Mortgage Rates at 4.17%

First American Mortgage Trust (privately held) has selected Southfield, Michigan-based Mortgage Builder Software as its new loan origination platform after a lengthy evaluation process. First American Mortgage Trust will implement the Mortgage Builder ...

First American Mortgage Trust Picks Mortgage Builder Software to Assist with National Growth Objectives

The ongoing saga involving PMI Mortgage Insurance and CUNA Mutual Group Mortgage Insurance entered into a new stage on Thanksgiving Eve when the PMI Group, PMI MI's holding company, filed for bankruptcy in federal court. CMG MI is the leading ...

PMI Group Files for Bankruptcy

Radian's risk-to-capital ratio was 21.4-to-one as of Sept. 30 and without any capital infusion, the ratio is expected to increase as mortgage insurance losses develop. As we know, MI company ratios have been impacted industry-wide. In the states that don't ...

FHA to Raise Premiums? HARP 2.0 Hesitation; CFPB Status; MI & Investor Updates

Century Bank and Trust is also pleased to announce the addition of Vicki Morris as part of the Retail Loan team in Reading, Michigan. Morris joins Century Bank and Trust as an Assistant Vice President and Mortgage Loan Officer with over 24 years of banking experience.

Century Bank and Trust Welcomes AnnMarie Sanders and Vicki Morris

Winston Rowe & Associates provides commercial mortgages for shopping centers nationwide with ... Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina ...

Commercial Mortgages Shopping Malls No Upfront Fees

Problems began among subprime mortgages but are rapidly spreading into broader segments ... and in economically distressed regions like Ohio and Michigan, exhibit the most severe challenges. Rising foreclosures in all types of markets threaten to create ...

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