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ICICI Bank cuts home loan EMI
NEW DELHI: Seeking to mitigate inflationary pressure in a rising interest rate scenario, private sector lender ICICI Bank has decided to increase the repayment tenor for its home loan customers while cutting down their monthly instalment ... (Mon, 12 May 2008 20:13:07 GMT)
Mortgage cos. reveal damage from housing crisis
Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over. Investors bid up shares of mortgage lenders and insurers despite billions in losses from a sustained housing downturn in the U.S. Shares of Bond insurer MBIA Inc., and mortgage insurers PMI ... (Mon, 12 May 2008 19:57:33 GMT)
Results show damage mortgage industry has taken
Broad damage in the mortgage industry was in full view today as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over. (Mon, 12 May 2008 19:19:00 GMT)
Mortgage cos. reveal damage from housing crisis
Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over. Investors bid up shares of mortgage lenders and insurers... (Mon, 12 May 2008 18:53:35 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Mon, 12 May 2008 18:47:51 GMT)
Mortgage cos. reveal damage from housing crisis
NEW YORK -- Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over. (Mon, 12 May 2008 18:47:17 GMT)
Borrowers who complete homeownership education programs make better refinancing decisions
In light of the subprime mortgage crisis that has resulted in extraordinarily high default rates on home mortgages, one might wonder what the government can do to better educate new potential homeowners. (Mon, 12 May 2008 18:37:36 GMT)
Northern Rock overstated the quality of its mortgage book
Northern Rock's former directors overstated the quality of the nationalised lender's £100bn mortgage book by using "inadequate" controls that have left the taxpayer more exposed to a housing downturn than previously thought. (Mon, 12 May 2008 16:41:43 GMT)
UK Average Mortgage Rates Climbed Broadly In April - BOE
LONDON -(Dow Jones)- U.K. average quoted mortgage rates climbed across the board in April, data published on the Bank of England's Web site Monday showed. (Mon, 12 May 2008 16:27:19 GMT)
RMC Vanguard Mortgage Corporation Receives 2008 Pinnacle Award from the Better Business Bureau
Leading Houston-based mortgage company named a 2008 Pinnacle Winner. (PRWeb May 12, 2008) Read the full story at http://www.prweb.com/releases/2008/05/prweb932194.htm (Mon, 12 May 2008 15:14:12 GMT)
Mortgage officer licensing bill hits snag
PHOENIX -- Legislation requiring people who help arrange mortgage loans for home buyers to get a state license has hit a roadblock near the finish line at the Legislature. (Mon, 12 May 2008 15:07:00 GMT)
RMC Vanguard Mortgage Corporation Receives 2008 Pinnacle Award from the Better Business Bureau
Leading Houston-based mortgage company named a 2008 Pinnacle Winner. (Mon, 12 May 2008 15:00:00 GMT)
Mortgage lenders tightened credit in April
Mortgage lenders tightened credit terms last month despite a cut in official interest rates, Bank of England data showed on Monday. (Mon, 12 May 2008 14:53:00 GMT)
Despite mortgage woes, HSBC has good 1st quarter
LONDON (AP) -- HSBC Holdings PLC said Monday that first-quarter profit was better than a year ago, despite a $3.2 billion write-down on subprime mortgage assets in the United States. (Mon, 12 May 2008 12:03:58 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Mon, 12 May 2008 11:17:17 GMT)
MBIA Posts Loss of $2.4 Billion as Mortgage, CDO Slump Deepens
May 12 (Bloomberg) -- MBIA Inc. , the bond insurer that lost 87 percent of its market value in the past year, posted a net loss of $2.4 billion as the slump in mortgage securities deepened. (Mon, 12 May 2008 10:58:10 GMT)
Get Extra Cash By Refinancing Your Car
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 12 May 2008 10:50:41 GMT)
PMI Group slides to large 1st-quarter loss on hefty mortgage default payouts, FGIC losses
WALNUT CREEK, Calif. - Mortgage insurer PMI Group Inc. said Monday it swung to a first-quarter loss from year-ago profit, due to hefty payouts on default claims and charges to write off its investment in bond insurer FGIC. (Mon, 12 May 2008 10:37:37 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Mon, 12 May 2008 10:05:49 GMT)
(AFX UK Focus) 2008-05-12 10:20 Northern Rock says outlook for UK mortgage industry remains 'highly uncertain'
LONDON (Thomson Financial) - Northern Rock Plc. said the outlook for the UK mortgage market remains "highly uncertain", but progress against its business plan to date is encouraging. (Mon, 12 May 2008 09:57:04 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Mon, 12 May 2008 09:51:10 GMT)
Jumbo jitters: High-end homebuyers run into mortgage problems
For months, mortgage lenders have been backing away from borrowers with spotty credit, all but closing down the so-called subprime mortgage market. (Mon, 12 May 2008 08:12:59 GMT)
FHA expands mortgage rescue - not enough, critics say
While Congress grapples with how to help troubled homeowners, the Bush administration is expanding a more modest effort to help at-risk borrowers. (Mon, 12 May 2008 08:00:00 GMT)
Housing bailout: Little cost but also little help
A congressional proposal to have the government help homeowners refinance mortgages they can no longer afford will only help a small fraction of those who are at risk of losing their homes. (Mon, 12 May 2008 07:58:46 GMT)
Mortgage delinquency on the rise
Mortgage delinquencies will continue to rise over the next six to 12 months as home prices decline and economic conditions remain difficult, according to one forecast released Monday. (Mon, 12 May 2008 07:58:36 GMT)
Washington Digest/House passed mortgage relief bill
By Steve Tetreault and Sara Spivey Stephens Washington Bureau WASHINGTON - The House last week responded to the nation's mortgage crisis by passing a package of bills that aim to rescue homeowners facing foreclosure while stimulating real estate markets. (Mon, 12 May 2008 07:55:06 GMT)
FHA relief plan missing its target
WASHINGTON - Last August, President Bush promised to help homeowners who had fallen behind on their mortgage payments refinance with stable government-insured loans. (Mon, 12 May 2008 06:24:58 GMT)
Quitclaim deed will not affect mortgage
Question: My parents have been trying to refinance their home but are unable to because my father cannot work due to a car accident. We were told that if I co-sign a loan for them I can then do a quitclaim deed after the refinancing and I will have no obligation to the loan or property. (Mon, 12 May 2008 05:27:00 GMT)
Mortgage rates have stabilized
Mortgage rates finally have calmed down, after swinging wildly in the first few months of the year. That good news is amplified by the direction that rates took last week: down. The 30-year fixed rate had risen modestly three weeks in a row. The benchmark 30-year fixed-rate mortgage fell 3 basis points to 6.13 percent, according to the Bankrate.com national survey of large lenders, issued ... (Mon, 12 May 2008 04:19:16 GMT)
Fixed-rate mortgage regains the spotlight
Bottoms up! It's time to swallow a heavy dose of risk realism when considering the U.S. home market. While it's a given that home prices will continue to fall in most major markets in the immediate future, you have to defy the conventional wisdom on what will happen next. Start with the role of the adjustable-rate mortgage. In the past, they were leverage lollipops that tasted the lowest rates ... (Mon, 12 May 2008 04:17:25 GMT)
New income tax exclusion for mortgage debt discharges
On Dec. 20 President Bush signed into law the Mortgage Forgiveness Debt Relief Act of 2007. For three years, from Jan. 1, 2007, th (Mon, 12 May 2008 04:16:10 GMT)
JP Morgan Chase ramps up home loan sales force in Washington
JP Morgan Chase is quietly embarking on a massive expansion of its home lending business in Washington, and plans to more than quadruple its market share in the state by the end of the year. (Mon, 12 May 2008 04:12:28 GMT)
ICICI Bank cuts EMIs for home loan customers
ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments for a large number of its borrowers by enhancing the tenure of their home loans. (Mon, 12 May 2008 03:43:34 GMT)
Australia Home-Loan Approvals Drop to Three-Year Low (Update2)
May 12 (Bloomberg) -- Australian home-loan approvals fell in March to the lowest level in almost three years, reinforcing the central bank's view that the highest borrowing costs since 1996 are slowing the economy. (Mon, 12 May 2008 02:59:35 GMT)
Noli urges regular payments of housing loan amortizations
VICE President and Housing Czar Noli de Castro urged urban poor homeowners to also pay regularly their home loan amortization as he exhorts everyone not to forget their obligations. (Mon, 12 May 2008 02:18:44 GMT)
Australia Home-Loan Approvals Drop More Than Forecast (Update1)
May 12 (Bloomberg) -- Australian home-loan approvals fell more than economists forecast in March, reinforcing the central bank's view that the highest borrowing costs in 12 years are slowing the economy. (Mon, 12 May 2008 01:59:42 GMT)
House Passes Mortgage Relief Bill
WASHINGTON -- The House last week responded to the nation's mortgage crisis by passing a package of bills that aim to rescue homeowners facing foreclosure while stimulating real estate markets. (Mon, 12 May 2008 00:15:37 GMT)
Australian Dollar Falls Before Home-Loans, Confidence Reports
May 12 (Bloomberg) -- The Australian dollar fell before a government report that economists said will show home-loan approvals declined for a second month in March, signaling two interest-rate increases this year are slowing the economy. (Mon, 12 May 2008 00:14:35 GMT)
ICICI Bank lowers EMIs for home loan customers
Lengthens tenures in response to customer feedback. ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments (EMIs) for a large number of its borrowers by enhancing the tenure of their home loans. (Sun, 11 May 2008 20:51:58 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 11 May 2008 20:02:33 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sun, 11 May 2008 20:02:21 GMT)
Housing Loan Data Heads Aussie-NZ Economic Calendar
(RTTNews) - Australian traders get another look Monday at where the nation†s economy might be heading with release of home loan data for March. The figures for February showed a drop of 5.9 percent. Most economists are forecasting a decline of 0.8 percent for March. (Sun, 11 May 2008 19:56:48 GMT)
ICICI Bank lowers EMIs for home loan customers
Lengthens tenures in response to customer feedback. ICICI Bank, India's second biggest bank, has offered to lower the equated monthly installments (EMIs) for a large number of its borrowers by enhancing the tenure of their home loans. (Sun, 11 May 2008 19:37:56 GMT)
Peter Boutell, Lending a Hand: Good news on adjustable rate mortgage loans
Adjustable-rate mortgages were created to take the risk of rising rates away from banks and mortgage companies and place it squarely on the shoulders of the borrower. (Sun, 11 May 2008 17:28:08 GMT)
Bill to license mortgage officers hits roadblock
Legislation requiring people who help arrange mortgage loans for home buyers to get a state license has hit a roadblock near the finish line at the Legislature. (Sun, 11 May 2008 17:24:11 GMT)
AZ bill for licensing of mortgage officers hits roadblock
Associated Press - May 11, 2008 1:14 PM ET PHOENIX (AP) - Legislation requiring people who help arrange mortgage loans for home buyers to get a state license has hit a roadblock near the finish... (Sun, 11 May 2008 17:18:33 GMT)
Adam Bennett: Home loan rate defies Bollard
Last week's shock jobs number has markets picking the Reserve Bank will move to cut interest rates later this year, sooner than it had so far been signalling. (Sun, 11 May 2008 17:11:55 GMT)
Get Airmiles With Your Mortgage
Lloyds TSB has launched an 'airmiles mortgage.' Is it a gimmick or a genuinely good deal? (Sun, 11 May 2008 14:26:35 GMT)
California man losing nine homes in mortgage mess
A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market. (Sun, 11 May 2008 12:52:50 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 11 May 2008 10:47:38 GMT)
Private Mortgage Insurers Make Condo Requirements Tougher
Getting a loan to buy a condo these days is like running a gauntlet: Not only do you often have to dodge a barrage of more difficult requirements from Fannie Mae and Freddie Mac, but now private mortgage insurers have set up a higher bar to leap over. (Sun, 11 May 2008 10:17:19 GMT)
Investors see profits from mortgage-flip
Jared Lanning, struggling to pay a home loan on which he owed more than his house was worth, was thinking he might just let the lender take back the property. Then he got a call one evening from an investor who had bought his mortgage. (Sun, 11 May 2008 10:12:02 GMT)
Homeowner's Hopes Ride With State Mortgage Reform
Lisa Murzin-Pelcz is in the final stages of foreclosure, and could lose the house she has lived in for 12 years when court proceedings start on June 10. Her hopes ride with a mortgage reform and bailout bill the state legislature passed on Wednesday. (Sun, 11 May 2008 09:41:25 GMT)
Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Sun, 11 May 2008 09:20:34 GMT)
Consumer loan and savings rates
Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. (Sun, 11 May 2008 08:41:55 GMT)
Mortgage fraud bill proposed
TRENTON Legislation aimed at curbing mortgage fraud has been introduced by fourth district Assemblymen Paul Moriarty and Sandra Love. The bill (A-2679) would make residential mortgage fraud a crime punishable by up to five years in prison and fines of up to $15,000. (Sun, 11 May 2008 08:41:06 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sun, 11 May 2008 08:05:31 GMT)
Area Votes in Congress
WASHINGTON - Here is how Philadelphia-area members of Congress were recorded on major roll-call votes last week: House Federal mortgage relief. Voting 266-154, the House authorized a program in which mortgage holders would refinance hundreds of thousands of at-risk home loans in return for Federal Housing Administration backing of those loans and other benefits. Now befor (Sun, 11 May 2008 07:58:25 GMT)
Area Votes in Congress
WASHINGTON - Here is how Philadelphia-area members of Congress were recorded on major roll-call votes last week: House Federal mortgage relief. Voting 266-154, the House authorized a program in which mortgage holders would refinance hundreds of thousands of at-risk home loans in return for Federal Housing Administration backing of those loans and other benefits. Now befor (Sun, 11 May 2008 07:54:23 GMT)
Fall in house sales hits builders, estate agents and mortgage brokers
Spring weather may have arrived, but cold winds continue to blow through the housing market. Mortgage brokers are finding there is no longer much for them to broker and are feeling the pinch. (Sun, 11 May 2008 07:47:09 GMT)
How your U.S. lawmaker voted
Here's how the state's members of Congress voted on major roll calls in the week ending Friday. House Federal mortgage relief By a vote... (Sun, 11 May 2008 07:36:30 GMT)
Extra mortgage payment can be simple, cost-free
Q: My wife and I want to pay our mortgage biweekly — instead of monthly — with a personal check. The lender insists, however... (Sun, 11 May 2008 07:32:50 GMT)
HOME CALENDAR
Rent to Own Seminar: Learn the ins and outs of renting to own. Receive a free credit report and/or credit counseling to help with buying your rental home in 6-18 months. 7 p.m. Tues. at Deed Realtors, 46135 Van Dyke, Utica. 586-739-5540 (Sun, 11 May 2008 07:29:30 GMT)
Quitclaim deed will not affect mortgage
Question: My parents have been trying to refinance their home but are unable to because my father cannot work due to a car accident. We were told that if I co-sign a loan for them I can then do a quitclaim deed after the refinancing and I will have no obligation to the loan or property. (Sun, 11 May 2008 07:20:34 GMT)
In Efforts to Help Homeowners Avoid Foreclosure, I Short Sale, Inc. Makes Loan Modifications a Priority
I Short Sale, Inc. (ishortsale.com), a leading nationwide short sale and loss mitigation advisory firm, has expanded its loan modification department with the addition of several experienced loan modification specialists and support staff. (PRWeb May 11, 2008) Read the full story at http://www.prweb.com/releases/2008/05/prweb933224.htm (Sun, 11 May 2008 07:16:12 GMT)
Count to five before you send mortgage payoff
Many people look forward to the day they own their homes free and clear, but gathering the money to pay off the mortgage is only part of the process. Make sure all the paperwork is in order. (Sun, 11 May 2008 07:14:35 GMT)
Greeley hosts mortgage-aid forum
A Mortgage Assistance and Information Forum will take place Monday at the Greeley Recreation Center, 651 10th Ave. in Greeley, to help borrowers struggling with their mortgage payments. (Sun, 11 May 2008 07:04:24 GMT)
In Efforts to Help Homeowners Avoid Foreclosure, I Short Sale, Inc. Makes Loan Modifications a Priority
I Short Sale, Inc. (ishortsale.com), a leading nationwide short sale and loss mitigation advisory firm, has expanded its loan modification department with the addition of several experienced loan modification specialists and support staff. (Sun, 11 May 2008 07:01:00 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 11 May 2008 05:25:14 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Sun, 11 May 2008 05:23:13 GMT)
How area lawmakers voted
1. Mortgage refinancing (HR 3221): Voting 266-154, the House agreed to expand the Federal Housing Administration’s backing of home loans to induce mortgage firms to voluntarily rework loans now headed for default. A yes vote backed the plan. (Sun, 11 May 2008 03:47:39 GMT)
How area lawmakers voted
1. Mortgage refinancing (HR 3221): Voting 266-154, the House agreed to expand the Federal Housing Administration’s backing of home loans to induce mortgage firms to voluntarily rework loans now headed for default. A yes vote backed the plan. (Sun, 11 May 2008 03:43:48 GMT)
Habitat Takes Applications for New Home
Families in need are on the road to what could soon become a new home. It started today at Central Christian Church where a crowd of applicants filled out paperwork for a Habitat for Humanity House. (Sun, 11 May 2008 01:43:31 GMT)
Arguments in defense of a housing bailout backed by the government
A government-backed mortgage bailout is needed, and it must be done right away. Before shouting about all the reasons why taxpayers shouldn't rescue the profligate who took on more debt than they could handle, think about this: New research estimates 1 in 33... (Sun, 11 May 2008 00:54:25 GMT)
House Passes Mortgage Relief Bill
WASHINGTON - The House last week responded to the nation's mortgage crisis by passing a package of bills that aim to rescue homeowners facing foreclosure while stimulating real estate markets. (Sat, 10 May 2008 22:45:47 GMT)
Mortgage credit losses may total $500 billion
NEW YORK: Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening. (Sat, 10 May 2008 22:01:30 GMT)
Understanding loan requirement basics
It may be difficult for you to get a home loan to the tune of Rs 12 lakh, even if your mother acts as a co-borrower. As per my calculations, you should be able to get a home loan of about Rs 6 lakh if you apply in an individual capacity and about Rs 9.5 lakh if you apply jointly with your mother. (Sat, 10 May 2008 20:43:12 GMT)
Ousted mortgage CEO seeks redemption with new company
You might call it the second coming of Patrick S. Flood. The once high-profile CEO of HomeBanc Mortgage Corp., known for his Christian faith-oriented management style, was fired last year from the company he had been a part of for 22 years, just months before it sought bankruptcy protection. For some people, such a public end to a chapter of their professional life would have been enough to send ... (Sat, 10 May 2008 20:28:56 GMT)
Mortgage Holders Find It Hard to Walk Away From Their Homes
The blogosphere is full of tales of homeowners who supposedly are choosing to mail the house keys to their lenders rather than keep their depreciating homes, but this remains a rare occurrence. (Sat, 10 May 2008 19:37:17 GMT)
In mortgage market, walkaway homeowners may be urban myth
Bankers and housing analysts say many homeowners, owing more than their homes are worth, are defaulting on their loans even when they can afford payments. But no hard numbers back up their claims. Bankers and housing market analysts are warning of a chilling new trend in the mortgage world: Homeowners voluntarily defaulting on their loans even though they can actually afford to make the ... (Sat, 10 May 2008 18:20:46 GMT)
In mortgage market, walkaway homeowners may be urban myth
Bankers and housing analysts say many homeowners, owing more than their homes are worth, are defaulting on their loans even when they can afford payments. But no hard numbers back up their claims. Bankers and housing market analysts are warning of a chilling new trend in the mortgage world: Homeowners voluntarily defaulting on their loans even though they can actually afford to make the ... (Sat, 10 May 2008 18:15:55 GMT)
Plan ahead if you want to make your final mortgage payment
Many people look forward to the day they own their homes free and clear. But gathering the money to pay off the mortgage is only part of the process. It's also important to make sure all the paperwork is in order. (Sat, 10 May 2008 17:44:26 GMT)
Trapped by Web loan with the 842% interest rate
Rochelle Parker needed money for Christmas gifts and medicine, so she went online and found a Web site promising easy money. After a few key punches she was zapped a $300 loan -- but there was a catch. (Sat, 10 May 2008 16:15:57 GMT)
When to refinance
Homeowners must consider several factors to ensure they're making a wise move (Sat, 10 May 2008 15:15:31 GMT)
DiMasi: I paid off lobbyist friend's mortgage
House Speaker Sal DiMasi says he's paid off a $250,000 loan from a close friend, who just registered as a lobbyist. DiMasi got the $250,000 third mortgage from Richard Vitale, who has been DiMasi's accountant and campaign treasurer. State Republicans have questioned DiMasi's relationship with Vitale, who recently worked on a bill on behalf of the state's ticket brokers. (Sat, 10 May 2008 14:38:21 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sat, 10 May 2008 14:35:31 GMT)
How to avoid losing your home
The eight interest rate increases since June 2006, rising inflation, and higher fuel and food prices have made it harder for borrowers to meet their home loan repayments. (Sat, 10 May 2008 14:10:27 GMT)
AG warns of scams involving housing services
Consumers are advised to be aware of letters offering mortgage insurance, refinancing and other services. (Sat, 10 May 2008 13:56:16 GMT)
Passing mortgage bill is right thing to do
Since when did we stop caring about our neighbors? Isn't that one of the traits that has made this country so appealing; so different; so special? (Sat, 10 May 2008 11:29:46 GMT)
Homeowners switch to costlier fixed-rate loans amid ARM fears
Mortgage refinancing in the U.S. is increasing as record numbers of homeowners dump their adjustable-rate mortgages for the security of fixed rates. (Sat, 10 May 2008 09:18:53 GMT)
Are mortgage rates high or low right now?
A: Compared to a year ago, they're a little lower. Mortgage company Freddie Mac says the average in the Southeastern states this past week was 6.04 percent with a fee amounting to 0.3 percent of the loan, down from 6.10 percent a year ago with a 0.7 percent fee. (Sat, 10 May 2008 08:52:00 GMT)
AIG sees no signs of mortgage rally
American International Group, staggering under a huge first-quarter loss, says it does not yet see signs of a rebound in the market for mortgage assets. (Sat, 10 May 2008 08:43:57 GMT)
Horsham mortgage lender buys Bensalem rival
Two of the largest mortgage lenders based in the Philadelphia region are now one. Gateway Funding Diversified Mortgage Services L.P., Horsham, bought the assets of Arlington Capital Mortgage Corp., Bensalem, Gateway's chief executive Bruno P. Pasceri said yesterday. (Sat, 10 May 2008 08:23:07 GMT)
DiMasi pays off mortgage loan from friend
House Speaker Salvatore F. DiMasi said he paid off the balance of an unusual $250,000 third mortgage on his North End condominium yesterday, after the lender, his close friend Richard D. Vitale, who is under scrutiny for work he did last year on behalf of the state's ticket brokers, registered as a lobbyist. (Sat, 10 May 2008 07:51:57 GMT)
Mortgage Holders Find It Hard to Walk Away From Their Homes
The blogosphere is full of tales of homeowners who supposedly are choosing to mail the house keys to their lenders rather than keep their depreciating homes, but this remains a rare occurrence. (Sat, 10 May 2008 07:36:21 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sat, 10 May 2008 07:16:56 GMT)
Licensing of mortgage firms goes to governor
New Hampshire is one step closer to requiring licenses from people who arrange mortgage loans. (Sat, 10 May 2008 05:25:04 GMT)
SoCal developer pleads guilty to mortgage fraud scheme
A real estate developer pleaded guilty Friday to a mortgage fraud scheme that involved buying houses in some of Southern California's most ritzy neighborhoods and selling them to fake buyers at inflated prices. Charles Elliott Fitzgerald, 47, pleaded guilty... (Sat, 10 May 2008 03:08:07 GMT)
SoCal developer pleads guilty to mortgage fraud scheme
A real estate developer pleaded guilty Friday to a mortgage fraud scheme that involved buying houses in some of Southern California's most ritzy neighborhoods and selling them to fake buyers at inflated prices. (Sat, 10 May 2008 02:51:37 GMT)
Mortgage Holders Find It Hard to Walk Away From Their Homes
The blogosphere is full of tales of homeowners who supposedly are choosing to mail the house keys to their lenders rather than keep their depreciating homes, but this remains a rare occurence. (Sat, 10 May 2008 02:19:19 GMT)
Bonds Tied to Mortgages Have Hope
Maybe there's a way to thrive in the howling wasteland that is the home-loan market. Bonds backed by mortgages look like a buying opportunity, assuming a new spate of defaults doesn't send their prices tumbling again. (Sat, 10 May 2008 01:59:14 GMT)
Three People Arrested In Mortgage Scam Bust
Three people are in jail after a huge mortgage scam bust in the Las Vegas Valley. Police are still looking for one more suspect. Between them, police say there are 90 felony charges. (Sat, 10 May 2008 00:20:01 GMT)
Fixed Mortgage Rates Steady
NEW YORK -- Fixed mortgage rates have largely gone unchanged. The average conforming 30-year fixed mortgage rate backtracked to 6.13 percent, according to Bankrate.com's weekly national survey of large lenders. (Fri, 09 May 2008 23:33:58 GMT)
Mortgage losses could hit $531bn
GOLDMAN Sachs economists expect a total of $US500 billion ($531 billion) in residential mortgage credit losses and a renewed slowdown in economic activity after. (Fri, 09 May 2008 22:40:00 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Fri, 09 May 2008 21:47:19 GMT)
IMF oks final Turkey loan review, no word on plans
WASHINGTON, May 9 - The International Monetary Fund on Friday approved a final review under Turkey's $10 billion loan program a day ahead of its expiration but the IMF said it had not received word whether the government would seek another IMF deal. (Fri, 09 May 2008 21:33:05 GMT)
IMF oks final Turkey loan review, no word on plans
WASHINGTON, May 9 - The International Monetary Fund on Friday approved a final review under Turkey's $10 billion loan program a day ahead of its expiration but the IMF said it had not received word whether the government would seek another IMF deal. (Fri, 09 May 2008 21:33:05 GMT)
Home repossessions to double this year for mortgage defaulters
The number of people who are losing their homes because they cannot meet rising mortgage bills is set to double this year, experts said yesterday. (Fri, 09 May 2008 21:15:57 GMT)
Horsham mortgage lender buys Bensalem rival
Two of the largest mortgage lenders based in the Philadelphia region are now one. (Fri, 09 May 2008 19:32:19 GMT)
Mortgage credit losses could total $500 bln: Goldman
Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening in 2008 or 2009, according to a research note from the firm. (Fri, 09 May 2008 19:25:36 GMT)
Federal Home Loan Bank income rises
The Federal Home Loan Bank of Pittsburgh on Friday reported first-quarter net income of $57.5 million, or $1.40 per share, up from $53.8 million, or $1.73 per share, a year ago. (Fri, 09 May 2008 19:23:34 GMT)
AIG sees no signs of mortgage asset market rebound yet
NEW YORK (Reuters) - American International Group (AIG.N), after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters. (Fri, 09 May 2008 19:22:28 GMT)
AIG sees no signs of mortgage asset market rebound yet
American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters. (Fri, 09 May 2008 18:43:37 GMT)
The Hindu Business Line : Decline in bank loan growth continues
Chennai, May 9 Loan growth during the second fortnight of this fiscal has been sluggish. According to the weekly statistical supplement of the Reserve Bank of India, bank credit for the fortnight ended April 25 was down by Rs 11,964 crore. (Fri, 09 May 2008 18:33:54 GMT)
ALL BUSINESS: Government-backed housing bailout badly needed
A government-backed mortgage bailout is needed, and it must be done right away. (Fri, 09 May 2008 17:56:44 GMT)
Bank cuts mortgage rates
ASB has cuts its key mortgage rates for the first time since the global credit crunch forced interest rates higher earlier this year. (Fri, 09 May 2008 17:19:44 GMT)
New reform bill tightens state's oversight of mortgage industry
Gov. Phil Bredesen has signed into law a mortgage reform bill that creates safeguards for Tennessee consumers, according to a state release. (Fri, 09 May 2008 17:10:18 GMT)
Fitch Affirms 5 Classes from 2 Contimortgage Home Equity Loan Trust RMBS Deals
Fitch Ratings has taken rating action on the following two Contimortgage Home Equity Loan Trust (CMHE) mortgage pass-through certificates. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed. (Fri, 09 May 2008 16:11:22 GMT)
Fitch Affirms 5 Classes from 2 Contimortgage Home Equity Loan Trust . RMBS Deals
RMBS Deals 09/05/2008 15:45:00 Business Wire Fitch Ratings has taken rating action on the following two Contimortgage Home Equity Loan Trust (CMHE) mortgage pass-through certificates. (Fri, 09 May 2008 15:56:09 GMT)
PHH 1st-quarter earnings double as refinancing activity spikes
MT. LAUREL, N.J. (AP) - PHH Corp.'s first-quarter earnings doubled as refinancing activity boosted revenue, the mortgage originator and fleet management company said Friday. (Fri, 09 May 2008 15:48:09 GMT)
PHH 1Q profit doubles on spike in refinancing activity
PHH Corp.'s first-quarter earnings doubled as refinancing activity boosted revenue, the mortgage originator and fleet management company said Friday. (Fri, 09 May 2008 15:20:54 GMT)
Federal Home Loan Bank of Atlanta Employees Travel to Gulf Coast for Habitat for Humanity's 2008 Jimmy and Rosalynn ...
Employees from the Federal Home Loan Bank of Atlanta will travel from their midtown Atlanta home office to the Gulf Coast, May 11-16, to volunteer alongside former U.S. President and Nobel Peace Prize laureate Jimmy Carter and his wife, Rosalynn. (Fri, 09 May 2008 14:45:00 GMT)
N.H. Senate supports licensing mortgage originators
New Hampshire is one step closer to requiring licenses from people who arrange mortgage loans. (Fri, 09 May 2008 14:21:37 GMT)
Misleading Solicitations That Appear to Come from Consumers' Banks
Attorney General Jay Nixon says Missourians are receiving letters in the mail offering mortgage insurance, refinancing and other services. He says while many of those solicitations are designed to look like they come from a consumer's mortgage lender, they actually come from a separate, unrelated company. (Fri, 09 May 2008 12:20:51 GMT)
House OKs mortgage rescue
Bush says he'd veto bills to subsidize homeowner refinancing The House passed yesterday the most sweeping government plan yet to shore up the troubled housing market and help people struggling to pay their mortgages, adopting legislation that would underwrite $300 billion in new loans and keep an estimated 500,000 homeowners out of foreclosure. (Fri, 09 May 2008 12:12:03 GMT)
England, Wales Mortgage Possession Claims Rise In Q1
(RTTNews) - Mortgage possession claims issued in England and Wales increased 16% in the first quarter on an annual basis, the Ministry of Justice indicated Friday. The number of claims totaled 38,688, up 7% from the fourth quarter of 2007. (Fri, 09 May 2008 11:56:58 GMT)
Mortgage bill may face presidential veto
The US House of Representatives has approved a bill designed to stem the tide of home foreclosures due to the subprime mortgage crisis. (Fri, 09 May 2008 11:48:35 GMT)
Bankrate: Fixed Mortgage Rates Steady While Adjustable Rates Fall
Fixed mortgage rates were largely unchanged this week. The average conforming 30-year fixed mortgage rate backtracked to 6.13 percent, according to Bankrate.com's weekly national survey of large lenders. (Fri, 09 May 2008 11:30:00 GMT)
Mortgage repossession orders up 17%
The number of homeowners at risk of losing their homes has risen by nearly a fifth in the past year. Government data showed that a total of 27,530 mortgage repossession orders were made during the first quarter of this year, up 17% from the same period a year ago. (Fri, 09 May 2008 10:43:29 GMT)
39 Republicans Join Democrats As Mortgage Bill Passes House
The House yesterday approved an ambitious plan to rescue hundreds of thousands of homeowners at risk of foreclosure by helping them trade exotic loans with rapidly rising monthly payments for more affordable mortgages backed by the federal government. (Fri, 09 May 2008 10:03:05 GMT)
England, Wales Mortgage Possession Claims, Orders Rise In 1Q
LONDON -(Dow Jones)- The number of mortgage possession claims and orders in county courts in England and Wales rose in the first quarter as the housing market continued to suffer from the impact of the global credit crisis, data from the Ministry of Justice showed Friday. (Fri, 09 May 2008 09:13:32 GMT)
Mortgage rates nearly stable
Thirty-year fixed-rate mortgages averaged 6.05 percent this week, down 0.01 percent from last week, mortgage giant Freddie Mac reported Thursday. (Fri, 09 May 2008 09:10:48 GMT)
Proposal calls for loan-rate disclosure
WASHINGTON - People using credit cards or taking out auto loans, home mortgages and other loans would be notified when they are offered higher interest rates because of poor credit histories, under a plan federal regulators proposed yesterday. (Fri, 09 May 2008 08:36:06 GMT)
Man City's Suree longs to return home
BANGKOK (Reuters) - Manchester City's Thai international Suree Sukha, on loan at Grasshoppers Zurich, wants to leave the club because he is homesick and lonely. (Fri, 09 May 2008 07:53:25 GMT)
Results mixed for Citizens' loan program
The 13 insurers that took advantage of a low-cost loan program to pump up capital and write thousands of new policies are still sitting on millions of unused dollars. (Fri, 09 May 2008 07:36:55 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 09 May 2008 07:06:22 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 09 May 2008 06:26:06 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 09 May 2008 06:25:45 GMT)
ASB Bank lowers mortgage lending rates
ASB Bank today lowered some its key fixed mortgage lending rates after wholesale rates plunged yesterday following shock jobs data. (Fri, 09 May 2008 05:58:00 GMT)
Mortgage-relief package sails through legislature
HARTFORD — It took the final day of the 2008 General Assembly session to do it, but legislators assured themselves Wednesday they could point to at least one approved bill that responds to Connecticut’s slumping economy after the Senate endorsed an omnibus mortgage relief bill. (Fri, 09 May 2008 05:48:09 GMT)
Mortgage relief package sails through legislature
HARTFORD — It took the final day of the 2008 General Assembly session to do it, but legislators assured Wednesday they could point to at least one approved bill that responds to Connecticut’s slumping economy after the Senate endorsed an omnibus mortgage relief bill. (Fri, 09 May 2008 05:42:21 GMT)
West Bancorp boosting loan loss reserves
West Bancorporation on Tuesday said it is increasing its provision for loan losses for the first quarter of 2008 by $5 million due to loans related to Regency Homes.On April 25, the West Des Moines home builder said it was suspending business. West Bancorporation, owner of West Bank with an office in Coralville, said it does not have any loans provided directly to Regency. It does have seven ... (Fri, 09 May 2008 05:05:39 GMT)
Paying home loan? Can't claim HRA benefit
If you have traded in shares, your income will be considered as business income. Hence you will have to prerpare a profit and loss account, similar to that prepared by a trader and cliam all the expenses that you incurred for purchase and sale of shares. However while doing keep in mind that you will not be able to claim Securities Transaction Tax (STT) as expenses from the income, says direct ... (Fri, 09 May 2008 04:13:33 GMT)
Man City's homesick Suree longs to return home
BANGKOK, May 9 (Reuters) - Manchester City's Thai international Suree Sukha, on loan at Grasshoppers Zurich, wants to leave the club because he is homesick and lonely. (Fri, 09 May 2008 04:05:38 GMT)
Mortgage lender accused of contempt in claims settlement
A mortgage lender that settled a lawsuit accusing it of charging illegal fees has been threatened with contempt after it rejected the vast majority of claims under the settlement. (Fri, 09 May 2008 03:27:08 GMT)
Woman sentenced to 18 years for mortgage-fraud schemes
A Central Florida woman has been sentenced Thursday to 18 years in prison for her role in mortgage-fraud schemes that authorities say also involved her husband, daughter and another person. (Fri, 09 May 2008 03:22:44 GMT)
Mortgage crisis seeps to prime loans
The first concrete evidence that delinquencies on mortgage bills have spread well beyond those with subpar credit shows that even prime borrowers have increasingly fallen behind on their house payments. (Fri, 09 May 2008 02:50:23 GMT)
US House-approved mortgage crisis bill faces veto
A foreclosure sign seen in Stockton, California. The US House of Representatives has approved a bill that lawmakers hope could stem the tide of home foreclosures due to the subprime mortgage crisis, but it faces a presidential veto (Fri, 09 May 2008 01:30:19 GMT)
Rell backs helping mortgage holders
HARTFORD - State Sen. Bob Duff's proposal to help state families caught in the subprime mortgage crisis was passed unanimously yesterday by the Senate. (Fri, 09 May 2008 01:06:22 GMT)
US House-approved mortgage crisis bill faces veto
The US House of Representatives has approved a bill that lawmakers hope could stem the tide of home foreclosures due to the subprime mortgage crisis, but it faces a presidential veto. (Fri, 09 May 2008 01:04:57 GMT)
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