Flash Update: Mortgage Mayhem Spreading!
October 21, 2010 at 14:00 PM EDT
The Mortgage Bankers Association (MBA) has just announced that new mortgage applications have slumped again despite some of the lowest interest rates in history — a drop in demand that bodes ill for the entire housing market. Moreover, the slumping market can only be aggravated by the foreclosure fraud crisis that has burst onto the scene in recent days. Some people thought Bank of America’s decision this week — to restart its foreclosure machine in 23 states — ended that crisis. But it didn’t. Right now, as I write these words, the White House is meeting with regulators and administration… . . . → Full Story: Flash Update: Mortgage Mayhem Spreading!