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Mexico Housing Fund Infonavit Sells MXN2.6 Billion In Mortgage Bonds
MEXICO CITY -(Dow Jones)- Mexico's government-run housing fund Infonavit said Thursday that it sold 2.6 billion pesos ($195.7 million) in mortgage-backed securities in its second issuance this year. (Thu, 02 Jul 2009 20:11:20 GMT)
Beazer to pay $50M for mortgage fraud
CHARLOTTE, N.C., July 2 (UPI) -- U.S. home builder Beazer Homes USA agreed to pay $50 million to settle various mortgage fraud abuse charges, court records show. (Thu, 02 Jul 2009 19:47:50 GMT)
HUD secretary announces mortgage refinancing help
Housing and Urban Development Secretary Shaun Donovan, calling Nevada "ground zero" in the world of foreclosures, has announced an expansion plan to curb the housing market crisis. (Thu, 02 Jul 2009 18:56:16 GMT)
Freddie Mac: Mortgage rates take short dip
Rising mortgage rates reversed course this week, with long-term rates falling slightly. Freddie Mac's weekly report says 30-year fixed-rate mortgages averaged 5.32 percent this week, down from last week's average of 5.42 percent. A year ago, 30-year mortgages were averaging 6.35 percent, although rates fell below 5 percent earlier this year. (FRE) (Thu, 02 Jul 2009 18:31:53 GMT)
U.S. Mortgage Rates Drop to 5.32%, Freddie Mac Says (Update2)
July 2 (Bloomberg) -- Mortgage rates in the U.S. fell this week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum. (Thu, 02 Jul 2009 15:59:39 GMT)
Mortgage rates slide
Home mortgage rates retreated last week, with the 30-year fixed slipping to 5.7% from 5.8% the week prior, according to a report from a financial data aggregator released Thursday. (Thu, 02 Jul 2009 15:09:31 GMT)
Mortgages: Mortgage rates continue fall from mid-June peak
Rates on the 30-year fixed-rate mortgage fell this week, averaging 5.32%, a quarter of a percentage point lower than they averaged at their mid-June peak, Freddie Mac reported on Thursday. (Thu, 02 Jul 2009 15:08:13 GMT)
U.S. Mortgage Rates Drop to 5.32%, Freddie Mac Says (Update1)
July 2 (Bloomberg) -- Mortgage rates in the U.S. fell this week, easing concern the Federal Reserve plan to lower rates by purchasing mortgage-backed securities was losing momentum. (Thu, 02 Jul 2009 14:59:35 GMT)
Freddie Mac: 30-year Fixed-rate Mortgage At 5.32%
Freddie Mac: 30-year Fixed-rate Mortgage At 5.32% (Thu, 02 Jul 2009 14:29:10 GMT)
CalSTRS Searching for Home Loan Program Servicing Firm
SACRAMENTO, Calif.----The California State Teachers' Retirement System is searching for a firm to be the master servicing agent for its home loan program. The selected firm will assist CalSTRS employees in daily operations, record keeping and in the development of execution strategies. (Thu, 02 Jul 2009 13:20:00 GMT)
Eligibility for home refinance program is expanded
The Obama administration eases rules, lifting the maximum loan-to-value ratio to 125%, in an attempt to make refinancing available to more people whose homes are worth less than their mortgages. The Obama administration eased eligibility rules Wednesday for its Home Affordable Refinance program, lifting the maximum loan-to-value ratio to 125% from 105%. (Thu, 02 Jul 2009 12:29:01 GMT)
Bankrate: Fixed Mortgage Rates Drop In Latest Week
Bankrate: Fixed Mortgage Rates Drop In Latest Week (Thu, 02 Jul 2009 12:28:30 GMT)
Mortgage applications fall 19 percent
US mortgage applications fell last week by the most since February, defying efforts by President Barack Obama's administration to revive the housing market. (Thu, 02 Jul 2009 07:58:04 GMT)
13 charged in mortgage-fraud ring
Thirteen people were indicted yesterday in connection with a $9 million mortgage-fraud scheme involving central Ohio properties. (Thu, 02 Jul 2009 07:54:02 GMT)
New mortgage rules could help more borrowers
The Obama administration on Wednesday broadened its refinance program for underwater borrowers, those who owe more than their homes are worth. Now, borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac and are current on their payments... Sponsored Topics: Fannie Mae - Freddie Mac - Refinancing - Business - Mortgage loan (Thu, 02 Jul 2009 07:39:30 GMT)
Leader of mortgage-fraud operation convicted.
Uto Essien, the ringleader of a multimillion-dollar mortgage-fraud operation, was convicted by an Adams County jury Wednesday. (Thu, 02 Jul 2009 07:16:53 GMT)
Fewer miss mortgage repayments in sign of economy's strength
The rate of missed repayments by mortgage holders actually fell in the latest survey - another sign that the economy is stabilising. (Thu, 02 Jul 2009 05:45:52 GMT)
13 charged in mortgage-fraud ring
Thirteen people were indicted today in connection with a $9 million mortgage-fraud scheme involving central Ohio properties. It took more than a year for local, state and federal investigators in a task force to unravel the complex scheme, authorities say. More than 30 properties were involved. (Thu, 02 Jul 2009 03:54:28 GMT)
White House to Expand Mortgage Refinancing Program
The Obama administration announced yesterday that it would loosen the eligibility requirements for a program aimed at helping borrowers with no equity in their homes to refinance into cheaper mortgages. (Thu, 02 Jul 2009 01:15:13 GMT)
Fannie And Freddie To Expand Mortgage Rescue
Government allows more troubled borrowers to qualify for a refinancing program run by the mortgage financiers. (Wed, 01 Jul 2009 23:09:02 GMT)
Beazer to pay up in mortgage fraud case
Beazer Homes USA said Wednesday it has agreed to pay up to $55 million in restitution and expenses related to a mortgage fraud scheme in North Carolina. Federal authorities agreed not to prosecute the company as long as terms are met. (Wed, 01 Jul 2009 22:46:16 GMT)
(AFX UK Focus) 2009-07-01 23:12 UPDATE 3-Fannie, Freddie ease terms for mortgage refinance
By Patrick Rucker (Wed, 01 Jul 2009 22:33:33 GMT)
New Home Loan Aid May Help Banks
The Obama administration's expansion of an aid program to underwater home borrowers could be a short-term boon to banks. (Wed, 01 Jul 2009 22:02:35 GMT)
Fannie, Freddie ease terms for mortgage refinance
The Obama administration on Wednesday expanded its foreclosure prevention efforts to help a greater number of underwater homeowners refinance their mortgages. (Wed, 01 Jul 2009 21:57:34 GMT)
Fannie, Freddie ease terms for mortgage refinance
By Patrick Rucker (Wed, 01 Jul 2009 21:57:34 GMT)
Home Loan Bank awards grants
The Federal Home Loan Bank has awarded $5.4 million in affordable housing grants in five states. (Wed, 01 Jul 2009 21:16:04 GMT)
U.S. raises home refi plan's loan-to-value ceiling to 125%
The Obama administration today eased eligibility rules for its Home Affordable Refinance Program , lifting the maximum loan-to-value ratio to 125% from 105%. (Wed, 01 Jul 2009 20:41:58 GMT)
Beazer settles $50M mortgage fraud case
Resolves allegations of improper mortgage activities. Separately, SEC alleges former exec Michael Rand manipulated the homebuilder's results. (Wed, 01 Jul 2009 19:09:13 GMT)
Obama extends mortgage refinancing program
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part. (Wed, 01 Jul 2009 19:06:00 GMT)
Fannie, Freddie To Let More Borrowers Refinance
Fannie, Freddie To Let More Borrowers Refinance (Wed, 01 Jul 2009 18:59:01 GMT)
Program Change Makes More Nevadans Eligible for Refinancing
Nevadans who are up to 125 percent underwater on their mortgage but current on their house payments may now qualify for President Obama's home refinancing program. (Wed, 01 Jul 2009 18:52:07 GMT)
(AFX UK Focus) 2009-07-01 18:14 UPDATE 1-US mortgage agencies expand refinance plan-official
WASHINGTON, July 1 (Reuters) - Mortgage finance companies Fannie Mae and Freddie Mac will expand their efforts to prevent foreclosures, and refinance borrowers whose loan-to-value ratio is as high as 125 percent, an administration official said on Wednesday. Under current rules, the mortgage finance companies may only refinance borrowers whose mortgage loan-to-value ratio is no greater than 105 ... (Wed, 01 Jul 2009 17:33:42 GMT)
(AFX UK Focus) 2009-07-01 17:50 Fannie, Freddie to expand refinance program-source
WASHINGTON, July 1 (Reuters) - Fannie Mae and Freddie Mac will expand their foreclosure-prevention efforts and refinance homeowners whose loan-to-value ratio is 125 percent, an administration souce said on Wednesday. Under current rules, the mortgage finance companies may refinance only borrowers whose mortgage loan-to-value ratio is 105 percent. The new policy is intended to aid more struggling ... (Wed, 01 Jul 2009 17:17:54 GMT)
Mortgage Applications Dip to 7-Month Lows--Even as Rates Fall
The Mortgage Bankers Association has released its most-recent mortgage applications survey. (Wed, 01 Jul 2009 17:15:20 GMT)
Obama widens mortgage refi program
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part. (Wed, 01 Jul 2009 16:54:44 GMT)
Mortgage Applications at 7-Month Low
Refinancing activity is very sensitive to mortgage rates and has thus come down sharply in recent weeks. (Wed, 01 Jul 2009 16:47:33 GMT)
Fannie, Freddie to expand refinance program: source
Fannie Mae and Freddie Mac will expand their foreclosure-prevention efforts and refinance homeowners whose loan-to-value ratio is 125 percent, an administration source said on Wednesday. (Wed, 01 Jul 2009 16:38:24 GMT)
U.S. Mortgage Applications Fall 19%, Defying Obama (Update1)
July 1 (Bloomberg) -- U.S. mortgage applications fell last week by the most since February, defying efforts by President Barack Obama ’s administration to revive the housing market. (Wed, 01 Jul 2009 16:36:47 GMT)
Mortgage applications fall to 7-month low
Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%, data from an industry group showed on Wednesday. (Wed, 01 Jul 2009 16:35:38 GMT)
U.S. Mortgage Applications Fall 19%, Defying Government Efforts
July 1 (Bloomberg) -- Mortgage applications in the U.S. fell last week by the most since February, defying efforts by President Barack Obama ’s administration to revive the housing market. (Wed, 01 Jul 2009 15:48:41 GMT)
Banks Sustain Higher Prices for Mortgage Debt That Hobbled Them
July 1 (Bloomberg) -- Banks are buying the mortgage-backed bonds that hobbled the global financial system, helping to sustain higher prices for the debt, according to Federal Reserve data, investors and traders. (Wed, 01 Jul 2009 14:56:22 GMT)
Mortgage Applications Fall Last week, Refinance Tumble
The Mortgage Bankers Association reported Wednesday that its index for total U.S. mortgage applications fell 18.9% for the week ended June 26. Refinance applications fell 30% during the period. (Wed, 01 Jul 2009 14:54:14 GMT)
First Federal Bank of California Nears $1 Billion in Home-Loan Modifications; Its Workout Success Rate Outpaces Banks ...
LOS ANGELES----May figures show that First Federal Bank of California, a wholly owned subsidiary of FirstFed Financial Corp. , has now modified nearly $1 billion worth of home mortgages, enabling more than 2,000 California families to avert foreclosure. (Wed, 01 Jul 2009 14:00:00 GMT)
U.S. mortgage applications fall to 7-month low
U.S. mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30 percent, data from an industry group showed on Wednesday. (Wed, 01 Jul 2009 13:54:22 GMT)
US real estate markets in deep trouble - Mortgage applications in the U.S. falling very fast
The Mortgage applications in the U.S.is falling very fast signaling deep trouble in US real estate markets. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped close to 20 percent to 445 in the last week of june from 548 the prior week. (Wed, 01 Jul 2009 13:00:10 GMT)
Mortgage Applications Fall to 7-Month Low
Mortgage Applications Fall to 7-Month Low (Wed, 01 Jul 2009 12:13:30 GMT)
U.S. MBA Mortgage Applications Index Fell 19 Percent Last Week
July 1 (Bloomberg) -- Mortgage applications in the U.S. fell last week by the most since February as refinancing slumped to the lowest level in seven months. (Wed, 01 Jul 2009 11:48:21 GMT)
Use mortgage broker for land refinance
Dear Dr. Don, We purchased a 1920s home (900 square feet) in Missouri with 145 acres back in 2003 for $180,000. We are in the process of putting up a pole barn with living quarters (3,000 square feet, with heat and a concrete floor) on the property. (Wed, 01 Jul 2009 11:42:36 GMT)
Mortgage applications at 7-month low
Industry group says requests for home loans fell 18.9% last week as borrowing costs increase. (Wed, 01 Jul 2009 11:39:33 GMT)
Week-to-week mortgage applications off 18.9%: MBA
Lower interest rates fail to rouse homeowners to consider refinancing their mortgages, fresh data compiled by the Mortgage Bankers Association show. The volume of mortgage applications filed in the week ended June 26 drops a seasonally adjusted 18.9% from the week before. (Wed, 01 Jul 2009 11:22:43 GMT)
US MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Wed, 01 Jul 2009 11:05:09 GMT)
Indictments announced in mortgage fraud cases
Although the nation's beleaguered housing market is showing signs of stabilizing, Attorney General Anne Milgram warned potential homeowners on Tuesday that mortgage fraud in still rampant in New Jersey. (Wed, 01 Jul 2009 07:18:07 GMT)
Home loan tips
Home loan expert Harsh Roongta advises readers on what they should do if they are prepaying their home loans. (Wed, 01 Jul 2009 06:29:37 GMT)
Just six families helped by government Mortgage Rescue Scheme
Britain is facing a reposession timebomb Vince Cable warned yesterday as it emerged just six families have been helped by the Government's Mortgage Rescue Scheme. (Wed, 01 Jul 2009 06:21:33 GMT)
SBI cuts home loan rates for first 3 years
With real estate prices dropping, action is hotting up in the home loan market. State Bank of India, the country's largest lender, said on Tuseday that it had improved upon its home loan scheme and would offer home loans starting at 8 per cent in the first year before rising 100-150 basis points in the second and third years. (Wed, 01 Jul 2009 04:45:27 GMT)
Cape man gets 22 years for mortgage fraud scam
A Cape Coral man was sentenced in federal court Monday to serve 22 years in prison and pay millions of dollars in restitution for a 2005-06 mortgage fraud scheme. Ronald Luczak, 37, was sentenced by U.S. District Judge John Steele, and must pay about $5.9 million in restitution to victims of the scheme, according to the U.S. Attorney's Office. (Wed, 01 Jul 2009 04:12:04 GMT)
Leading Canterbury mortgage broker moves to Viva
Leading Christchurch Mortgage broker Niki Olds has moved to new mortgage broking company Viva Home Loans. (Wed, 01 Jul 2009 01:59:33 GMT)
Mortgage lending hits a historic low
MORTGAGE lending has hit a historic low while credit card lending has slumped to 2006 levels, according to the Central Bank. (Wed, 01 Jul 2009 01:04:48 GMT)
Home Sweet Home, Not for Many
Despite glimmers of hope, the real estate market is still very much in distress. The combination of falling home prices and rising unemployment is creating stress for many homeowners who reached to buy a home when prices were high. Those who have heard the messages of "hope" and reached out to their lenders are in many cases left frustrated and disappointed. Restructuring a loan or negotiating a ... (Tue, 30 Jun 2009 23:03:08 GMT)
SBI, HDFC slash home loan rates
With real estate prices dropping, action is hotting up in the home loan market. State Bank of India, the country's largest lender, said on Tuseday that it had improved upon its home loan scheme and would offer home loans starting at 8 per cent in the first year before rising 100-150 basis points in the second and third years. (Tue, 30 Jun 2009 23:00:47 GMT)
Federal Home Loan Bank of San Francisco Releases May 2009 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced June 30, 2009, that the 11th District Monthly Weighted Average Cost of Funds Index for May 2009 is 1.832%. The index for April 2009 was 1.380%. (Tue, 30 Jun 2009 22:50:00 GMT)
SBI, LIC HF cut home loan rates
State Bank of India, the country's largest lender, on Tuesday launched two new home loan products-SBI Easy Home Loan and SBI Advantage Home Loan-for buyers in the sub-Rs 30-lakh and over Rs 30-lakh category, with processing fee for both waived until September 30, while home mortgage lender LIC Housing Finance has reduced the interest rates for its existing borrowers. (Tue, 30 Jun 2009 21:38:35 GMT)
New Jersey AG: Mortgage fraud cases on the rise
Although the nation's beleaguered housing market is showing signs of stabilizing, Attorney General Anne Milgram warned potential homeowners on Tuesday that mortgage fraud in still rampant in New Jersey. (Tue, 30 Jun 2009 21:25:46 GMT)
Presented By:
Highest-quality mortgage leads and highest-conversion rates in the mortgage lead generation industry. Awarded "Best in Lead Quality" at the 2008 Online Lead Quality Summit. (Tue, 30 Jun 2009 21:23:18 GMT)
Treasury OKs 3 firms for mortgage relief program
The Treasury Department said Tuesday that it has approved three more firms for its mortgage relief program. (Tue, 30 Jun 2009 21:11:41 GMT)
Treasury OKs 3 firms for mortgage relief program
The Treasury Department said Tuesday that it has approved three more firms for its mortgage relief program. The new approvals brought the number of companies participating in the mortgage effort to 23 with the total amount authorized for all of the firms rising to $17.98 billion out of a maximum of $50 billion the government has said it could spend on this program. (Tue, 30 Jun 2009 21:11:41 GMT)
SBI offers two new home loan schemes
SBI has launched two new home loan schemes, SBI Easy Home Loan and SBI Advantage Home Loan, with processing fee for both waived till September 30. (Tue, 30 Jun 2009 20:48:38 GMT)
Protesters demand mortgage help from loan firms
Associated Press - June 30, 2009 11:03 AM ET PHILADELPHIA (AP) - Protests are planned in more than a dozen cities across the country to demand that a group of mortgage companies who benefited... (Tue, 30 Jun 2009 19:41:20 GMT)
SBI improves its home loan offer
Offers to fix rates in second, third year of loan. With real estate prices dropping, action is hotting up in the home loan market. (Tue, 30 Jun 2009 18:42:48 GMT)
Protesters demand mortgage help from loan firms
Several key mortgage companies that benefited from federal bailout funds have yet to sign onto the Obama administration's plan to help more homeowners avoid foreclosure. (Tue, 30 Jun 2009 18:41:27 GMT)
6 indicted for mortgage fraud in NJ
Six people have been indicted on various mortgage fraud-related charges in three separate cases in New Jersey. (Tue, 30 Jun 2009 18:41:27 GMT)
ACORN presses Goldman Sachs, Barclays, American Home for mortgage modifications
The ACORN housing and community activist group is pressuring American Home Mortgage Corp., IndyMac Bank successor OneWest Bank and mortgage arms of Goldman Sachs & Co. and Barclays PLC to increase aid to distressed mortgage holders and participate in federal programs offering incentives for such actions. (Tue, 30 Jun 2009 16:41:39 GMT)
Colorado mortgage rates fall again
The average 30-year mortgage rate quoted to Colorado borrowers has fallen for the second consecutive week, the real estate company Zillow reported Tuesday. (Tue, 30 Jun 2009 16:29:49 GMT)
Germany to Loan Arcandor Unit $71 Million
With the states of Bavaria and Saxony, the interministerial debt guarantee board, or Bürgschaftsausschuss, decided to extend the loan to Quelle, thereby concluding negotiations among bank representatives, bankruptcy administrators and the company’s executives regarding the basic financial security of the firm. (Tue, 30 Jun 2009 15:18:10 GMT)
Protesters demand mortgage help from loan firms
Protests are planned in more than a dozen cities across the country to demand that a group of mortgage companies who benefited from federal bailout money participate in a government program designed to prevent foreclosures. (Tue, 30 Jun 2009 15:13:30 GMT)
State AG to announce mortgage fraud indictments
New Jersey Attorney General Anne Milgram is set to announce mortgage fraud indictments today, as the industry grapples with fallout from the housing market collapse. (Tue, 30 Jun 2009 15:11:25 GMT)
Pa. Gov. Rendell signs anti-mortgage fraud laws
Pennsylvania Gov. Ed Rendell signed a pair of bills Monday to combat mortgage fraud by strengthening communication between homeowners and their lenders, and encouraging employees at mortgage companies to report illegal activity. (Tue, 30 Jun 2009 15:02:22 GMT)
Invesco Mortgage Sets Price for its 8.5M shares
Invesco Mortgage Sets Price for its 8.5M shares (Tue, 30 Jun 2009 14:06:27 GMT)
Tips for deciding when to refinance
Enter " A Financial Analysis of Consumer Mortgage Decisions ," a new report by the Research Institute for Housing America and the Mortgage Bankers Association. It discusses various mortgage choices and when it makes sense to get what, including a refinancing. (Tue, 30 Jun 2009 13:49:36 GMT)
Zillow: Mortgage rates drop in Pa. for second week
For the second week in a row, average mortgage rates continued to drop, both in Pennsylvania and nationwide, according to mortgage rate Web site Zillow.com. (Tue, 30 Jun 2009 13:18:53 GMT)
Bridge loan a potential solution to two-mortgage dilemma
Q. We currently own a home worth about $425,000 with an outstanding mortgage of about $290,000. We would like to start building a home on a parcel of land we own free and clear (valued at $85,000).... (Tue, 30 Jun 2009 12:34:27 GMT)
Mortgage plan helps six families
Just six families in England have been helped by the government's mortgage rescue scheme and cases will now be speeded up. (Tue, 30 Jun 2009 11:49:41 GMT)
Mortgage plan helps six families
Just six families in England have been helped by the government's mortgage rescue scheme, a minister admits. (Tue, 30 Jun 2009 11:44:39 GMT)
SBI launches new home loan products
State Bank of India today launched two new home loan products — SBI Easy Home Loan and SBI Advantage Home Loan — with processing fee for both waived till September 30. (Tue, 30 Jun 2009 11:42:52 GMT)
Weigh interest-only mortgage refinance
Dear Dr. Don, I've been in my condo for three years and have an interest-only 30-year fixed-rate loan at 7.3 percent. My credit score is 760, but I haven't been able to refinance because my building is not FHA-approved. (Tue, 30 Jun 2009 11:42:42 GMT)
Research and Markets: An Essential Report on Mortgage Banking
DUBLIN----Research and Markets has announced the addition of the "Mortgage Banking" report to their offering. (Tue, 30 Jun 2009 11:02:00 GMT)
Govt Mortgage Rescue Scheme has helped just six households
The number of struggling homeowners helped by the Government’s Mortgage Rescue Scheme was only six from January to May this year, figures revealed today. ... (Tue, 30 Jun 2009 10:37:11 GMT)
Mortgage debt falls for second consecutive month
The Central Bank says the slump in the mortgage market has reached a historic low in the past month. Related Stories Sisters of Charity apologise for institutional abuse Economic activity down 8.5% in first quarter Begg slams suggested cuts in social welfare Court rejects challenge to NI Victims Commissioners Number of births hit 23-year high in 2006 (Tue, 30 Jun 2009 10:21:21 GMT)
Mortgage advances to slow further
Despite interest rates having been cut by a total of 450 basis points since December last year, mortgage advances growth is expected to slow down further in the near term. (Tue, 30 Jun 2009 10:15:17 GMT)
N.J. Attorney General Anne Milgram plans to unveil mortgage-fraud indictments
APNew Jersey Attorney General Anne Milgram TRENTON -- New Jersey Attorney General Anne Milgram today plans to announce multiple indictments for mortgage fraud. Milgram and Criminal Justice Director Deborah L. Gramiccioni are scheduled to make the announcement at noon in... (Tue, 30 Jun 2009 10:09:24 GMT)
LIC Hsg Fin cuts existing home loan rates by 50 bps
MUMBAI, June 30 (Reuters) - Mortgage lender LIC Housing Finance Ltd said on Tuesday it has cut interest rates for existing home loan borrowers by 50 basis points. (Tue, 30 Jun 2009 09:57:52 GMT)
LIC Hsg Fin cuts existing home loan rates by 50 bps
MUMBAI, June 30 (Reuters) - Mortgage lender LIC Housing Finance Ltd said on Tuesday it has cut interest rates for existing home loan borrowers by 50 basis points. (Tue, 30 Jun 2009 09:57:52 GMT)
11 years without paying mortgage That’s how long Red Gold went on Center City Apartments, PHFA says
SHAMOKIN — The city housing authority’s acquisition of the mortgage for Center City Apartments appears to be an unprecedented action, at least for the Pennsylvania Housing Finance Agency (PHFA). (Tue, 30 Jun 2009 09:31:52 GMT)
Two new mortgage fraud laws on books
HARRISBURG - Two state laws designed to prevent a repeat of a mortgage scandal were signed Monday by Gov. Ed Rendell. The laws will ensure that homeowners get more information about their mortgage terms and protect mortgage company employees who repor (Tue, 30 Jun 2009 08:19:41 GMT)
Judge's ruling in mortgage-lending case is days away
City's lawsuit advancing against Wells Fargo at stake Having heard what he called a "test run" of Baltimore's discriminatory lending claim against Wells Fargo on Monday, a federal judge said he will rule within days on whether the civil case can proceed to discovery - a process that could reveal the inner workings of one of the region's largest mortgage lenders. (Tue, 30 Jun 2009 07:51:10 GMT)
Shoprate.com's New Mortgage Interest Rate Table Helps Consumers Find Up-to-Date Rates
To help consumers find the lowest mortgage rates in their area, Shoprate.com has developed a new mortgage interest rate table. This feature allows consumers to select the state, loan type and loan amount in which they are interested, and then view a full list of nearby loan providers. Consumers can even narrow down their results by city, type (fixed, adjustable, FHA or VA) and term. (Tue, 30 Jun 2009 07:01:00 GMT)
SBA 504 Loans Now Allow Refinancing of Small Business Debt
SBA Administrator, Karen Mills, announced that the new refinance regulations for the SBA 504 loan guarantee program have been implemented. The refinance provision for SBA 504 loans was part in the 2009 American Recovery & Reinvestment Act (ARRA) passed earlier this year. The new refinancing provisions will open up credit and potentially free up working capital for America's small businesses by ... (Tue, 30 Jun 2009 07:00:00 GMT)
BUSINESS OF THE WEEK: Wells Fargo Home Mortgage
Wells Fargo Home Mortgage is the Huntington Regional Chamber of Commerce Business of the Week for June 29, 2009. (Tue, 30 Jun 2009 04:28:34 GMT)
Mortgage fraud bill signed
Wesley A. Snyder was able to keep his $29 million mortgage brokering scam hush-hush, for a time, by withholding crucial information — namely account statements — from his clients.Such a practice soon will be illegal.Gov. Ed Rendell on Monday signed into law a measure that bans mortgage b... (Tue, 30 Jun 2009 04:18:30 GMT)
Gov. Rendell Signs Mortgage Fraud Bills Into Law
Gov. Ed Rendell has signed two bills into law to crack down on mortgage fraud in Pennsylvania. (Tue, 30 Jun 2009 01:36:24 GMT)
No uptake of €280k State home loan scheme
A GOVERNMENT plan to provide mortgages to people who have been rejected by the banks has cost €280,000 to administer – but as yet no loans have been drawn down under the scheme. (Tue, 30 Jun 2009 00:29:58 GMT)
SBI cuts dealer financing rate by 0.5%, waives mortgage charges
SBI cuts dealer financing rate by 0.5%, waives mortgage chargesSBI cuts dealer financing rate by 0.5%, waives mortgage charges (Mon, 29 Jun 2009 22:44:52 GMT)
Home loan prop for the poor
New Delhi, June 29: The government is planning a Rs 15,000-crore housing mortgage guarantee fund to cover home loans given to the urban poor. (Mon, 29 Jun 2009 22:42:16 GMT)
Pa. toughens laws to prevent mortgage fraud
HARRISBURG, Pa. (AP) - Pennsylvania has two new laws to combat mortgage fraud. Gov. Ed Rendell signed the two bills into law Monday as he was watched by victims of former mortgage broker Wesley Snyder, who was sentenced to 12 years in prison. (Mon, 29 Jun 2009 21:39:48 GMT)
Bill To Prevent Mortgage Fraud
Governor Ed Rendell took steps today to fight mortgage fraud in the Keystone State. (Mon, 29 Jun 2009 21:06:44 GMT)
Cleveland Better Business Bureau Says to Beware Loan Mod Firms Offering Help
Northeast Ohio's Better Business Bureau is warning homeowners in trouble about "loan modification" companies that promise more than they can deliver. As part of our ongoing coverage...Facing the Mortgage Crisis, Mhari Saito reports. (Mon, 29 Jun 2009 19:49:07 GMT)
Loan argument fueled killings
Update: Police said today an argument over a loan is believed to be the cause of an apparent double-murder suicide in Forest Park this weekend. (Mon, 29 Jun 2009 19:21:39 GMT)
Will rising mortgage rates swamp housing market?
After hovering around 5 percent for most of the last few months, the average rate on a 30-year fixed-rate mortgage has spiked to about 5.7 percent since the end of May. That’s nationwide. (Mon, 29 Jun 2009 19:10:19 GMT)
Berks Ponzi scheme leads to new Pennsylvania mortgage laws
Gov. Ed Rendell today signed into law two mortgage fraud prevention bills spawned by the Wesley Snyder Ponzi scheme. (Mon, 29 Jun 2009 19:07:00 GMT)
US Banking Regulators Report Loan-Deposit Ratios
WASHINGTON -(Dow Jones)- North Dakota had the highest loan-to-deposit ratio of all states in the U.S., regulators said Monday. North Dakota's ratio was 172%. Second was Nevada, with 128%. (Mon, 29 Jun 2009 18:26:50 GMT)
OCBC unveils new home loan package (Business Times
OCBC Bank (Malaysia) Bhd yesterday launched a new home loan package based on Mortgage Lending Rate (MLR). (Mon, 29 Jun 2009 18:12:46 GMT)
New Plan Ties Reduced College Loan Payments to Income
Starting Wednesday, the federal Education Department will begin offering a repayment plan that lets college graduates reduce their loan payments, based on their income. (Mon, 29 Jun 2009 17:41:54 GMT)
OCBC unveils new home loan package (Business Times
OCBC Bank (Malaysia) Bhd yesterday launched a new home loan package based on Mortgage Lending Rate (MLR). Called Ideal Mortgage, the package is priced more competitively than BLR-based ones and is flexible enough for borrowers to make a significantly lower investment outlay on their loans during the lock in period, the bank said in a statement. The MLR, currently set at 4.70 per cent, is OCBC ... (Mon, 29 Jun 2009 17:02:21 GMT)
Governor Rendell Signs Bills to Protect Homeowners From Mortgage Fraud
Governor Edward G. Rendell today signed a pair of bills to combat mortgage fraud by strengthening communication between homeowners and their lenders and encouraging employees at mortgage companies to report illegal activity. (Mon, 29 Jun 2009 16:30:00 GMT)
Mortgage approvals hit 13-month high
Mortgage approvals rise for fourth month in a row, but net lending dives to lowest recorded level There were mixed signals from the mortgage market today as the Bank of England said the number of mortgages approved in May had reached a 13-month high, but net lending figures were at their lowest level in at least 16 years. The Bank said the number of mortgages approved for house purchases rose ... (Mon, 29 Jun 2009 15:59:17 GMT)
Town & Country Bank agrees to strengthen loan portfolio, lending practices
Town & Country Bank has entered into an agreement with bank regulators to strengthen its loan portfolio and its lending practices. (Mon, 29 Jun 2009 15:31:53 GMT)
Another fall in mortgage lending
Mortgage lending by building societies contracted for the fifth month in a row during May as the sector continues to struggle to raise funding, figures show. (Mon, 29 Jun 2009 15:12:05 GMT)
Brubaker mortgage-fraud bill signed into law
The jailed former mortgage broker Wesley A. Snyder was able to keep his $29 million scam hush-hush, for a time, by withholding crucial information — namely account statements — from his clients.Such a practice will soon be illegal.Gov. Ed Rendell today signed into law a measure that bans... (Mon, 29 Jun 2009 14:33:24 GMT)
2 mortgages haunt home dream
Dear Dr. Don, We currently own a home worth about $425,000 with an outstanding mortgage of about $290,000. We would like to start building a home on a parcel of land we own free and clear (valued at $85,000). We would like to build a $275,000 home on this property. (Mon, 29 Jun 2009 11:42:36 GMT)
Mortgage approvals hit 13-month high
There were mixed signals from the mortgage market today as the Bank of England said the number of mortgages approved in May had reached a 13-month high, but net lending figures were at their lowest level in at least 16 years. (Mon, 29 Jun 2009 11:42:04 GMT)
Rendell signs 2 bills on mortgage fraud
Gov. Rendell today signed two bills designed to protect consumers from mortgage fraud. (Mon, 29 Jun 2009 11:30:00 GMT)
Student loan relief for modest earners
Date: 6/28/2009 5:55 PMBC-US--Student Loan Relief,1st Ld-Writethru/652Eds: ADDS background on program. Moving on general news and financial services.CANDICE CHOI,AP Personal Finance Writer (Mon, 29 Jun 2009 11:15:01 GMT)
Mortgage approvals hit 13-month best
Mortgage approvals for house purchase rose to a 13-month high in May, according to new figures released today. (Mon, 29 Jun 2009 10:51:00 GMT)
Dubai Properties LLC Partners with Standard Chartered Bank to offer 'Easy Loan'
As part of the 'Easy Loan', Standard Chartered Bank Standard Chartered Bank will directly evaluate the customer's property through independent surveyors and offer the finance with minimal documentation requirement from the client. (Mon, 29 Jun 2009 10:10:04 GMT)
U.K. Mortgage Approvals Rise the Least on Record in May
U.K. BoE May net mortgage lending was the weakest on record at GBP0.32, versus 0.91 bln in April and compared to a Reuters median forecast of 1.1 bln. Meanwhile, new mortgage approvals reached 43.4k in May (median 45k), compared to 43.2k in April. (Mon, 29 Jun 2009 10:08:41 GMT)
Dubai Properties LLC partners with Standard Chartered Bank to offer 'Easy Loan'
Dubai Properties LLC announced an alliance with Standard Chartered Bank to offer 'Easy Loan' mortgages - a funding option to prospective buyers and existing owners of residential units at the Executive Towers. (Mon, 29 Jun 2009 10:04:47 GMT)
U.K. Mortgage Approvals Rise Less Than Forecast (Update1)
June 29 (Bloomberg) -- U.K. home-loan approvals climbed less than economists forecast last month as the credit squeeze led to the smallest increase in net mortgage lending since records began in 1993. (Mon, 29 Jun 2009 09:37:01 GMT)
U.K. Mortgage Approvals Rise Less Than Forecast on Loan Squeeze
June 29 (Bloomberg) -- U.K. home-loan approvals climbed less than economists forecast last month as the credit squeeze led to the smallest increase in net mortgage lending since records began in 1993. (Mon, 29 Jun 2009 09:23:03 GMT)
Mortgage lending posts weakest rise
Mortgage lending rose by its lowest amount on record in May and home loan approvals were weaker than expected, official data showed on Monday, in a sign that a housing market recovery is some way off yet. (Mon, 29 Jun 2009 09:04:00 GMT)
NatWest has change of heart over tragedy mortgage payout
Bank makes amends for mistake over insurance policy My fianc é and I took out an interest-only mortgage for £115,000 with NatWest in August 2007, with insurance for what I thought was life, accident, sickness and unemployment cover. Last March, my fianc é was killed in a road accident caused by a drunk driver. I phoned NatWest to claim but the adviser had trouble locating the insurance and ... (Mon, 29 Jun 2009 08:54:07 GMT)
Property expert: What type of mortgage should we get?
Q We currently have no mortgage but have decided to move out of our existing home and buy two properties (one in Cornwall and one in Winchester). We therefore need a small mortgage of around £40,000, which we hope to pay off in two or three years (although it may take a little longer). We have looked at several deals, but we are concerned by the high front end costs. Should we go with an ... (Mon, 29 Jun 2009 08:52:37 GMT)
BSA gross mortgage lending falls 55 pct yy in May
Gross mortgage lending by British building societies stood at 1.540 billion pounds in May down 55 percent on the year, the Building Societies Association said on Monday. (Mon, 29 Jun 2009 08:47:00 GMT)
Mortgage lending has weak rise in May
Mortgage lending rose by its weakest amount on record in May and mortgage approvals were broadly steady but weaker than expected, the Bank of England said on Monday. (Mon, 29 Jun 2009 08:42:00 GMT)
Best way to find a home loan
When the easy money was flowing, you could get a great deal on a mortgage from just about anyone. But in today's credit-challenged world, all the avenues for finding a mortgage come with their own set of problems. (Mon, 29 Jun 2009 08:00:00 GMT)
Shopping for a mortgage? The best way to find a loan
When the easy money was flowing, you could get a great deal on a mortgage from just about anyone. But in today's credit-challenged world, all the avenues for finding a mortgage come with their own set of problems. (Mon, 29 Jun 2009 07:49:00 GMT)
Web tips useful in buying a home
According to statistics published in 2008 by the National Association of Realtors, 87 percent of all home buyers used the Internet as an information source in their search for a home. Frankly, I am surprised it's not even higher than that. (Mon, 29 Jun 2009 06:56:25 GMT)
Vail Valley: Here are some hints for a successful mortgage application
As many locals have recently discovered, getting approved for a loan these days is far more stringent than it once was. Gone are the days of stated income qualifications, when a good credit score and adequate equity would assure a prompt approval. (Mon, 29 Jun 2009 05:31:31 GMT)
Lessons Learned: NIFA's mortgage bridge loan for first-time buyers
Back in April, a tax preparer told me that several of his clients were eager to help children or grandchildren take advantage of the new federal tax credit available to first-time home buyers. (Mon, 29 Jun 2009 05:29:55 GMT)
Modest earners get student loan relief
Repaying a student loan could soon be a little less painful. (Mon, 29 Jun 2009 04:43:42 GMT)
Mass appraisals like Bibb’s are an inexact science
A couple months ago, Sherree Quackenbush had her south Bibb County home appraised as part of a mortgage refinancing. (Mon, 29 Jun 2009 04:01:21 GMT)
How to buy a home: Finding the right deal
If you feel you’re ready to make the plunge into real estate, the first thing you need to do is get preapproved. Loans that pay you When you are signing up for a loan, why not get one that pays you? If you get a mortgage through a credit union, you may be eligible for a rebate through the CU Realty program, which pays you part of a Realtors’ commission just for using one in the lender’s network. ... (Mon, 29 Jun 2009 03:42:34 GMT)
Local mortgage activity drops as interest rates rise
County mortgage brokers said business has leveled off significantly as interest rates rise above 5 percent amid fears of inflation. Paul W. Gillespie — The Capital George Matthews, owner of A-1 Mortgage in Annapolis, stands among files of clients. (Mon, 29 Jun 2009 03:09:08 GMT)
Hong Kong Banks ‘Killing Themselves’ in Mortgage War (Update1)
June 29 (Bloomberg) -- Hong Kong high school teacher Chris Poon’s dream of buying his first apartment was dashed in December when banks refused to fund more than 50 percent of the HK$3.5 million ($450,000) purchase. (Mon, 29 Jun 2009 02:59:42 GMT)
'It was sure nice to be home!'
CASTINE, Maine ? The State of Maine training ship returned to its home port Saturday, marking the completion of Maine Maritime Academy cadets? mandatory 60-day training cruise. Crowds were on … (Mon, 29 Jun 2009 00:09:07 GMT)
MORTGAGE OPERATIONS MERGE A STRATEGY FOR GROWTH
SCOTTSDALE – As the mortgage industry continues to face challenges, Scottsdale-based State Mortgage has recently aligned its operations with Denver-based W.J. Bradley Mortgage Capital Corporation, in order to strengthen its position in the market and poise the company for growth once again. (Sun, 28 Jun 2009 23:32:17 GMT)
New federal student loan program to cap monthly payments based on income
NEW YORK -- Repaying a student loan could soon be a little less painful. Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. (Sun, 28 Jun 2009 23:23:07 GMT)
New program helps manage student loan debt
Repaying a student loan could soon be a little less painful. (Sun, 28 Jun 2009 18:29:31 GMT)
Geelong cases of mortgage stress shoot up by 40 per cent
GEELONG'S peak financial crisis counsellors say they have seen the number of mortgage-stress cases shoot up by as much as 40 per cent this year. (Sun, 28 Jun 2009 17:37:41 GMT)
MORTGAGE OPERATIONS MERGE A STRATEGY FOR GROWTH
SCOTTSDALE – As the mortgage industry continues to face challenges, Scottsdale-based State Mortgage has recently aligned its operations with Denver-based W.J. Bradley Mortgage Capital Corporation, in order to strengthen its position in the market and poise the company for growth once again. (Sun, 28 Jun 2009 15:17:17 GMT)
Tougher prison terms for mortgage schemes
Average sentences for mortgage fraud convictions have increased from 24 months since 2004 to between 50 and 55 months currently. MIAMI — To neighboring residents, the string of rapid-fire sales at a Coral Gables home was emblematic of the cause and consequences of South Florida's housing bust. (Sun, 28 Jun 2009 13:25:13 GMT)
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