{"id":294544,"date":"2010-02-08T18:25:48","date_gmt":"2010-02-08T23:25:48","guid":{"rendered":"http:\/\/mortgagenewsclips.com\/2010\/02\/08\/mortgage-related-credit-cards-first-millstone-cash-ins-reverse-originations-gmac-slims-down-fifth-third-mods\/"},"modified":"2010-02-08T18:25:48","modified_gmt":"2010-02-08T23:25:48","slug":"mortgage-related-credit-cards-first-millstone-cash-ins-reverse-originations-gmac-slims-down-fifth-third-mods","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/294544","title":{"rendered":"Mortgage Related: Credit Cards First, Millstone, Cash-Ins, Reverse Originations, GMAC Slims Down, Fifth Third Mods"},"content":{"rendered":"

\"bill-coppedge-dec09-1\"<\/a> \"original<\/a> <\/p>\n

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\"fox-business1\"<\/a> <\/p>\n

Study Shows Credit Card Debt Getting Paid Before Mortgages<\/strong> – By Robin Cassella – A recent trend of consumers paying off their credit card bills before their mortgages is gaining steam, according to a study released by TransUnion<\/strong>.  The phenomenon first appeared in early 2008. The reversal is representative of the change in conventional thought surrounding the payment hierarchy, or which debt consumers decide to pay off first. – FOXBusiness<\/a> <\/p>\n

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\"sandp1\"<\/a> \"resrecap\"<\/a> <\/p>\n

S&P: US banks back from the brink but mortgages still a problem<\/strong> – …\u201cWe believe that smaller and regional banks\u2013those most exposed to depressed local economies\u2013will be most likely to succumb eventually to these conditions. Regulators might ultimately nudge many of them into the corporate arms of stronger competitors, as happened to approximately 140 such banks in 2009. But we think it\u2019s unlikely that any major bank (with more than $100 billion in assets) will fail this year<\/strong>.\u201d … – Research Recap<\/a> <\/p>\n

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\"daily-herald\"<\/a> <\/p>\n

When refinancing, people now often cash-in<\/font> rather than cash-out<\/strong> – Ken Harney – … Now the pendulum in consumer psychology appears to be swinging toward reduction of household debt – whether credit cards or mortgages. In Freddie Mac’s latest quarterly survey of refinancings, 33 percent of homeowners put cash into the deal to lower their mortgage balances, which was the highest ever.<\/strong> By contrast, only 27 percent of refinancers took cash out – the lowest percentage on record. … – Chicago Daily Herald<\/a> <\/p>\n

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\"rmdlogo\"<\/a> <\/p>\n

Reverse Mortgage Origination Volume Grows to $30.2 Billion in 2009, Up 25%<\/strong> – … Despite only a slight increase in units endorsed in FY 2009, max claim volume grew 25% compared to the prior FY total of $24.2 billion.  According to data from Reverse Market Insight, 22% of the increase in volume comes from the lending limit increase and the remaining 3% stems from the additional units in FY 2009.<\/strong>  In addition, the shift to the fixed rate product has also been a factor. … – Reverse Mortgage Daily<\/a> <\/p>\n

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\"the-atlantic\"<\/a> <\/p>\n

GMAC Continues To Pare Down Loan Portfolio<\/strong> – by Daniel Indiviglio – Troubled U.S.-owned lender GMAC continues to shrink its investment holdings, preparing to sell another $6.5 billion in mortgage assets<\/strong>. – The Atlantic<\/a> <\/p>\n

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\"bizjournals-charlotte\"<\/a> <\/p>\n

Fifth Third targets mortgage modifications<\/strong> – Fifth Third Mortgage Co. says it has achieved four times the national average in mortgage modifications<\/strong>.  Of the 89 percent of the company\u2019s portfolio eligible for Home Affordable Modification Program consideration, nearly 35 percent of trial modifications have been converted to permanent modifications. -   Charlotte Business Journal<\/a><\/p>\n

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    Study Shows Credit Card Debt Getting Paid Before Mortgages – By Robin Cassella – A recent trend of consumers paying off their credit card bills before their mortgages is gaining steam, according to a study released by TransUnion.  The phenomenon first appeared in early 2008. The reversal is representative of the change in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-294544","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/294544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=294544"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/294544\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=294544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=294544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=294544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}