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Federal refinancing program boosts bank profits

LOS ANGELES — A newly streamlined government plan to reward homeowners who diligently pay their underwater mortgages is proving a bonanza for banks, which by one estimate may pocket $12 billion in extra revenue by refinancing loans.

Mortgage applications rise on refinancing

Continuing declines in fixed interest rates prompted a 9.2 percent increase in mortgage applications last week, the Mortgage Bankers Association reported Wednesday. Most of the increase came, however, from refinancing. The percentage of loans for refinancing increased to 74.9 percent from 72.1 percent the previous week. The percentage of mortgages for buying a house fell 2.4 percent from the ...

Could Refinancing All Student Loans Be A Free Lunch For The Taxpayers ?

Can he think like a venture capitalist on behalf of the American people ? Before I met with John Remondi, President and COO of Sallie Mae, I combed through Sallie's 10-K to see what they were worried about. One thing they say they are worried about is that the cost of

Mortgage-aid plan pays off for lenders

A newly streamlined government plan to reward homeowners who diligently pay their underwater mortgages is proving a bonanza for banks, which by one estimate may pocket $12 billion in extra revenue by refinancing loans.

More Than 95 Percent Of Refinancing Borrowers Choose Fixed-Rate Mortgages

MCLEAN, Va., May 14, 2012 /PRNewswire/ -- In the first quarter of 2012, fixed-rate loans accounted for more than 95 percent of refinance loans, based on the Freddie Mac (FMCC.OB) Quarterly Product Transition ...