Interthinx unveils FraudGUARD

Oct 09, 2006

BrooksAmerica launches 15-year interest-only loan programMortgagePress.comNo-interest loans BrooksAmerica Mortgage Corporation has introduced a 15-year, fixed, fully amortized loan, with a six-month prepayment penalty and a 10-year interest-only option. "Our Niche & Deal Maker 15-year interest-only loan is a very attractive option for first-time homebuyers or people with fluctuating incomes," said Tricia Bailey, president of BrooksAmerica. "This program also helps brokers build their businesses, by offering a unique loan that fits the needs of many customers." Irvine, Calif.-based BrooksAmerica Mortgage Corporation is a direct wholesale mortgage lender. For more information, call (888) 656-2262 or visit www.brooksamerica.com.

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Oct 09, 2006

Courts

LoanSnap Officially Loses Connecticut License

The AI mortgage startup formerly faced a cease and desist and a consent order from the State of Connecticut.

LoanSnap, Inc., an AI-powered mortgage startup, has had its license to operate revoked in Connecticut, according to a new Consent Order executed by the State's Banking Commissioner, Jorge Perez, on Oct. 2. The news follows LoanSnap's violation of a previous order, enacted in...

Analysis and Data

Mortgage Applications Fall After Rate-Jump

Refinance applications still 159% higher on an annual basis, reflecting last year's record lows

In the wake of a positive jobs report and subsequent rise in mortgage rates, more prospective borrowers held back this past week. Mortgage applications fell by 5.1% the week ending October 4, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applicati...