April 6, 2012 |
A little-noticed mortgage rule change that took effect April 1 could create hassles for significant numbers of homebuyers who plan to use low-down-payment FHA financing this spring. The change affects anyone with one or more "collection" accounts buried away in national credit bureau files. These include medical, student loan, retail and other debts reported — correctly or incorrectly — as unpaid by creditors and subsequently sent to collection agencies. In a reversal of its previous policy,...
November 6, 2012
Charles E. Castle Jr., 73, who built Ace Fire Extinguisher Service into one of the largest fire extinguisher sales and service companies in the country, died Nov. 5 at Suburban Hospital in Bethesda after a stroke. He was a Rockville resident. The death was confirmed by his son Daniel Castle. Mr. Castle was a loan officer for Maryland National Bank in Washington before buying Ace Fire Extinguisher Service in 1968. The College Park-based business was then a two-truck operation.
January 16, 2009 |
As mortgage interest rates continue falling to new lows, a growing number of borrowers are applying to more than one lender to increase their chances of getting approved for refinancing. Anecdotal evidence suggests that only about half of the borrowers trying to refinance are getting approved, down from 60 to 70 percent during previous refinancing booms, said Doug Duncan, chief economist at mortgage financier Fannie Mae . As a result, borrowers are getting frustrated and anxious.
September 25, 2009 |
Five years ago, when real estate in Northern Virginia was booming, it didn't surprise longtime residents in the Springfield and Falls Church areas to see small homes demolished and large "McMansions" built in their place. But they were surprised when a dozen or more people would then move into the new house, living in tight spaces and parking numerous cars up and down the street. The safety hazards of these new boardinghouses prompted Fairfax County to launch a Code Enforcement Strike Team in 2007.
March 22, 2013
Gerald K. Fay, 68, a former Weichert Realtors loan officer who later became a drug and alcohol counselor at Edgehill Retreat Center in Winchester, Va., died March 8 at his former wife's home in Alexandria. He had lymphoma, said his son, Cameron Fay. Mr. Fay, who lived in Winchester, was a vice president of the old First Dominion Mortgage Corp. in Alexandria from 1983 to 1995. He then worked as a loan officer at what is now Weichert Realtors in Northern Virginia until 1999. In 2000, he became a drug and alcohol...
July 28, 2009 |
The Senate ethics committee has interviewed a former Countrywide Financial executive who testified under oath that Sens. Christopher J. Dodd (D-Conn.) and Kent Conrad (D-N.D.) were aware that they were accessing a special program to give below-market-rate mortgages to the powerful and famous when he arranged their loans, according to the executive's attorneys. The statements from Robert Feinberg, who worked as a loan officer at the mortgage lender, stand in direct contradiction to statements made by Dodd and Conrad, who...