Mortgage News Feb 2006
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Second mortgage holder can foreclose
Dear Dr. Don, Can a second mortgage holder foreclose on a property? Even without the first mortgage being in arrears? Dear Wes, Bad news. The second mortgage lender can foreclose on the property even if the first mortgage is in good standing with its lender. (Mon, 06 Feb 2006 12:42:41 GMT)
Biggest Mortgage Lenders; Mortgage Industry News From MortgageDaily.com
With nearly a half trillion in mortgage production during 2005, Countrywide Financial Corp. was the biggest residential mortgage lender last year, according to a preliminary analysis of production data from MortgageDaily.com, the dominant online news source for the mortgage industry. (Mon, 06 Feb 2006 13:00:00 GMT)
Liberty Plans $110M Conversion for GMAC Mortgage Corp. Offices
FORT WASHINGTON, PA-Liberty Property Trust will develop a 450,000-sf class A office facility for Horsham-based GMAC Mortgage Corp. at 1100 Virginia Dr. in the Fort Washington Business Center. (Mon, 06 Feb 2006 13:02:41 GMT)
Home-buying program has cash, controversy
Feb. 6 (UNION-TRIBUNE): A major U.S. bank has funded its first home loans to undocumented Mexican immigrants in San Diego County in a move that targets a lucrative, wide-open market while providing new grist for the debate over illegal immigration. (Mon, 06 Feb 2006 14:12:10 GMT)
GMAC Mortgage to Handle Subservicing for Americorp Credit
HORSHAM, Pa.----Feb. 6, 2006--GMAC Mortgage Corp. today announced that it will handle interim subservicing for Americorp Credit Corporation's first mortgages and closed-end second mortgages. (Mon, 06 Feb 2006 14:30:00 GMT)
ABN AMRO Mortgage Group 2005 Production Totals $53.4 Billion
ABN AMRO Mortgage Group, Inc. , one of the nation's largest mortgage lenders, reports its 2005 production totaled $53.4 billion, with more than 313,000 loans funded. (Mon, 06 Feb 2006 15:19:00 GMT)
State Boasts Fewer Foreclosures
The number of Wisconsin homeowners who defaulted on their mortgage payments has dropped compared to last year. That bucks a national trend in which foreclosures are up almost everywhere else in the country. (Mon, 06 Feb 2006 15:37:46 GMT)
Hong Kong residential mortgage loans in negative equity up in 3 mths to Dec
Hong Kong residential mortgage loans in negative equity up in 3 mths to Dec (Mon, 06 Feb 2006 15:48:28 GMT)
Stay-at-home parents financially undervalued
Ask Kelly Flynn of Dallas what she does for a living and she'll proudly tell you that she's a stay-at-home mom caring for her 2-year-old son, Eddie. (Mon, 06 Feb 2006 16:39:11 GMT)
Budget offers new mortgage options
The Bush administration Monday proposed two federally insured mortgage products aimed at helping first-time home buyers with low or moderate incomes get home loans, including a zero-down payment mortgage program with the Federal Housing Administration for first-time buyers with strong credit records. (Mon, 06 Feb 2006 16:43:17 GMT)
Peabody, Fairfield Tap GMAC for Total $374M in Loans
ORLANDO-Two tourist and business-oriented hotels have received a total $373.7 million in new financing from Horsham, PA-based GMAC Commercial Mortgage Corp. The deals represent the largest of their kind so far this year in Central Florida, according to GlobeSt.com research. (Mon, 06 Feb 2006 19:02:41 GMT)
Mortgage rates rise
Mortgage rates around the country went up this week, with rates on 30-year mortgages climbing to their highest point since late December. (Mon, 06 Feb 2006 19:15:13 GMT)
Getting wise to mortgages: New tools decode jargon
A few entrepreneurs are developing new tools to help home buyers tackle one of the most confusing projects they face: figuring out whether a mortgage is a fair deal. (Mon, 06 Feb 2006 19:58:42 GMT)
FHL Bank registered with SEC
The Federal Home Loan Bank of Cincinnati became registered with the Securities and Exchange Commission Feb. 3. As a result, the bank will file quarterly and annual reports, and other periodic reports with the SEC. Those reports will be available on the SEC's Web site, and at the bank's Web site, www.fhlbcin.com . (Mon, 06 Feb 2006 20:12:09 GMT)
MICHELLE SINGLETARY: THE COLOR OF MONEY: Ameriquest deal aids the borrower
The practice of predatory lending strips billions of dollars in home equity from low-income and minority consumers each year, according to the Center for Responsible Lending, a nonprofit, nonpartisan research and policy organization. (Mon, 06 Feb 2006 20:16:08 GMT)
Citibank revises fixed mortgage rates
Citibank has revised its fixed mortgage rates, lowering its two-year rate to 6.55 per cent per annum. - (Mon, 06 Feb 2006 21:08:56 GMT)
Fed's Bies warns on mortgage, real estate lending
Regulators are concerned about heavy commercial real estate exposures and risky mortgage lending practices at U.S. banks, Federal Reserve Board Governor Susan Bies said on Thursday. (Mon, 06 Feb 2006 21:58:13 GMT)
REAL ESTATE / ROBERT BRUSS: Wife's age hurts reverse mortgage
Q. I am 78. My wife is 64. We own our home with a value of $550,000. No mortgage and no debts. We recently inquired about a senior citizen reverse mortgage and were told the best we can do is receive just $680 per month. The up-front fees would be about $13,000. The mortgage manager suggests we obtain a home equity loan instead. We have income of only about $60,000 per year. But we are cash poor (Mon, 06 Feb 2006 22:19:14 GMT)
Fewer Wisconsinites Default On Mortgage
Fewer homeowners in Wisconsin are defaulting on their mortgage payments. Wisconsin had 951 foreclosures in 2005, down 11 percent from the year before. (Mon, 06 Feb 2006 22:21:13 GMT)
NATION'S HOUSING: Ask more, question more, review more, probe more
Did your loan officer sit you down and walk you through all the key operational details of your most recent mortgage before you signed on the dotted line? (Mon, 06 Feb 2006 22:21:46 GMT)
GMAC Commercial Mortgage Corporation Is Finalizing An Arrangement With CBA Commercial
CBA Commercial’s Authorized Lender Program offers a complete web portal solution for financial institutions & mortgage companies. [PRWEB Feb 6, 2006] (Mon, 06 Feb 2006 22:35:49 GMT)
IN YOUR CORNER: Consumers have several options in Ameriquest case
As ambitious as the $325 million Ameriquest Mortgage settlement is, it’s a stretch to think it will compensate consumers for the thousands of dollars many lost. (Tue, 07 Feb 2006 00:39:32 GMT)
Attorney General Offers Mortgage Foreclosure Relief
If you've had problems making your mortgage payments since the storm, Attorney General Jim Hood wants you to know there may be some hope for you. (Tue, 07 Feb 2006 02:58:01 GMT)
Japanese stocks move higher Tuesday
FEB. 6 8:48 P.M. ET Tokyo stocks edged higher early Tuesday, extending gains from a fresh five-year high hit the session before on robust economic data. The dollar was higher against the yen. (Tue, 07 Feb 2006 03:09:10 GMT)
Mortgage Maze: Entrepreneurs step in to help
A few entrepreneurs are developing new tools to help home buyers tackle one of the most confusing projects they face: Figuring out whether a mortgage is a fair deal. (Tue, 07 Feb 2006 03:42:13 GMT)
Bush Proposes Mortgage Products to Help First-Time Home Buyers
WASHINGTON — The Bush administration Monday proposed two federally insured mortgage products aimed at helping first-time home buyers with low or moderate incomes to access home loans. (Tue, 07 Feb 2006 08:08:12 GMT)
Regulators Propose Curbs on Mortgages; The Top 10 Mortgage Mistakes Borrowers Make
From a newly-released book, "Kickback: Confessions of a Mortgage Salesman, How to Save $1,000s on Your Mortgage," the author, Ted Janusz, offers a list of the top 10 mistakes borrowers make. [PRWEB Feb 7, 2006] (Tue, 07 Feb 2006 08:16:33 GMT)
Web site targets home buyers
The Idaho Housing and Finance Association has launched IdaMortgage .com, an online resource center that will provide potential home buyers with home loan information as well as housing news, home buyer education classes, free housing counseling services, an application and Web-based referral system. (Tue, 07 Feb 2006 09:06:16 GMT)
ASSOCHAM seeks creation of Equity, Mortgage & Hybrid REITs
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has mooted a proposal to create Equity, Mortgage & Hybrid Real Estate Investment Trusts (REITs) to offer investors high-yield as well as a highly liquid methods of investing in real estate. (Tue, 07 Feb 2006 09:09:43 GMT)
SOCCER: Milner loan hailed as success
James Milner's season-long loan with Aston Villa has been hailed a big success ahead of Saturday's home encounter with his long term-employers, the managerless Newcastle. (Tue, 07 Feb 2006 10:58:16 GMT)
Santander Profit May Jump on Spanish, Latin Loans, Stake Sales
Feb. 7 (Bloomberg) -- Santander Central Hispano SA, Spain's biggest bank, may say fourth-quarter profit rebounded, buoyed by loan growth at home and in Latin America and gains from selling stakes in companies including Royal Bank of Scotland Group Plc. (Tue, 07 Feb 2006 11:07:36 GMT)
BP's 4Q profit rises on high oil prices
FEB. 7 6:22 A.M. ET BP PLC, one of the world's largest oil companies, reported a 22 percent increase in fourth-quarter net profit Tuesday on the back of high oil prices, but accounting and hurricane-related charges left earnings below analyst forecasts. (Tue, 07 Feb 2006 11:55:12 GMT)
Akzo Nobel to float pharmaceuticals unit
FEB. 7 5:47 A.M. ET Dutch chemical company Akzo Nobel NV said Tuesday it will seek a separate stock listing for its pharmaceuticals division Organon later this year and split the company in two. (Tue, 07 Feb 2006 11:55:22 GMT)
NATION'S HOUSING: Ask more, question more, review more, probe more
Did your loan officer sit you down and walk you through all the key operational details of your most recent mortgage before you signed on the dotted line? (Tue, 07 Feb 2006 12:02:14 GMT)
No need to rush property purchase
DEAR BRUCE: We are in our early 50s. We vacation two weeks a year in central Florida. We really enjoy ourselves there and would like to retire there when the time comes. During our recent Florida escape, we saw a couple of houses that we thought were really nice. We could afford to purchase one now. My husband says that it would be a headache trying to manage it from afar, but I have talked to (Tue, 07 Feb 2006 12:50:19 GMT)
GOP moves on mortgage-industry oversight
Though they’ve whiffed on past attempts, an advocate for homeowners and the poor says majority Republicans this time are pushing for mortgage-industry oversight that would give Ohio consumers some real protection. (Tue, 07 Feb 2006 12:50:28 GMT)
Paragon Announces Acquisition of Shearson Home Loans From Consumer Direct of America, Inc.
Paragon Financial Corporation , a consolidator in the highly fragmented financial services marketplace, announced today that it reached an agreement to acquire Shearson Home Loans, Inc. from Consumer Direct of America, Inc. . (Tue, 07 Feb 2006 12:59:00 GMT)
The Future of Mortgage Fraud: Are You at Risk?
SACRAMENTO----Feb. 7, 2006--Latest statistics show that mortgage fraud is steadily rising, and homebuyers, home sellers, brokers and lending institutions are all at risk of losing substantial amounts of money. (Tue, 07 Feb 2006 13:01:00 GMT)
1st Metropolitan Mortgage Names Ryan Steinert National Sales Trainer
CHARLOTTE, N.C.----Feb. 7, 2006--1st Metropolitan Mortgage, a national mortgage broker and a division of Empire Equity Group, Inc., has named Ryan Steinert national sales trainer. In this position, Steinert is responsible for providing sales training for 1st Metropolitan's originators in sharpening their sales skills. (Tue, 07 Feb 2006 13:01:00 GMT)
Healthcare Transactions Closed by Eastern Union Commercial Real Estate
NEW YORK----Feb. 7, 2006--Eastern Union Commercial, one of the fastest-growing commercial real estate mortgage brokerages in the country, announced the successful closing of a $12.5 million refinancing of two nursing facilities in Delaware, Pennsylvania, that was completed as a five-year deal, amortized over 25 years. (Tue, 07 Feb 2006 14:00:00 GMT)
Home sales expected to slow, but not sink in '06
Home sales will fall 4.7% in 2006 as house prices rise at rates far below those notched last year, but the housing market should remain healthy by historic standards, a trade group said Tuesday. (Tue, 07 Feb 2006 14:05:00 GMT)
Shell to hire 1,000 in India for research
FEB. 7 9:15 A.M. ET Energy giant Royal Dutch Shell plc said Tuesday it will hire 1,000 new employees this year and open a technology research center in India's southern city of Bangalore. (Tue, 07 Feb 2006 14:39:10 GMT)
India stock index closes past 10,000 level
FEB. 7 8:28 A.M. ET India's benchmark stock index held to its record levels Tuesday closing at 10,082.28 -- the first time it ever closed above 10,000 points. (Tue, 07 Feb 2006 14:39:20 GMT)
Samsung Group to offer $800M to charity
FEB. 7 8:17 A.M. ET Disgraced South Korean conglomerate Samsung Group said Tuesday it would donate more than US$800 million (euro668 million) in corporate and private assets to charity as part of an apology for several recent scandals. (Tue, 07 Feb 2006 14:39:30 GMT)
BP's 4Q profit climbs on high oil prices
FEB. 7 8:23 A.M. ET Energy group BP PLC said Tuesday its fourth-quarter profit rose 22 percent on the back of high oil prices, but accounting and hurricane-related charges left full-year earnings below analyst forecasts. (Tue, 07 Feb 2006 14:39:50 GMT)
Annual Survey of Commercial Mortgage Servicers
Orlando, FL (February 6, 2006) - The Mortgage Bankers Association (MBA) today released its annual ranking of commercial and multifamily loan servicers as of the end of 2005. On top of the list of 87 firms is Wachovia with $233.2 billion in master and primary servicing, followed by GMAC Commercial Holding Corp with $231.5 billion, Midland Loan Services Inc. with $159 billion, and Wells Fargo with (Tue, 07 Feb 2006 16:30:15 GMT)
Mom of 7 admits stealing $2,000 from PTO in Hanson: In midst of divorce, she was desperate to pay mortgage
HANSON - Eileen Whitman said she was so desperate to save her home, she stole more than $2,000 from the Parent Teacher Organization to pay her mortgage. (Tue, 07 Feb 2006 17:12:35 GMT)
Mortgage Alliace
Mortgage Alliace To Redeem Offer Please Click Image For Printable PDF. Close This Window When Done. (Tue, 07 Feb 2006 17:47:03 GMT)
The Mortgage Bankers Association Expresses Concern Over the Administration's Proposed Housing Budget
FEBRUARY 07, 2006 -- Orlando, Fla.--As the The Mortgage Bankers Association's (MBA) Commercial Real Estate Finance/Multifamily Housing Convention & Expo continues, the association's Washington, D.C. office released its views regarding the Administration's proposed housing budget. (Tue, 07 Feb 2006 18:04:34 GMT)
Elite Home Loans expanding operations
Mortgage banker Elite Home Loans Inc. has taken competitor Evergreen Lending LLC under its umbrella. (Tue, 07 Feb 2006 18:08:04 GMT)
Premier Internet Banking and Mortgage Web Portal Domain Name ''GetLoansFromHome.com'' Goes Up For Sale
ORLANDO, Fla.----Feb. 7, 2006--Lead Lease announced today the offering of the premier Internet banking and mortgage domain name, GetLoansFromHome.com , for sale. "The popularity of the online loans and mortgages is indisputable, with proof being several million 'mortgage searches' done on Yahoo alone during the month of December. (Tue, 07 Feb 2006 18:21:00 GMT)
Cash-out refinancings near 6-year high
With interest rates rising, tapping home equity and taking the cash is looking better to many homeowners than just a line of credit on their house. (Tue, 07 Feb 2006 18:36:19 GMT)
Australian Dec. Home-Loan Approvals Probably Rose 1%: BN Survey
Feb. 8 (Bloomberg) -- Australian home-loan approvals probably rose in December as increased optimism the central bank would refrain from raising interest rates stoked borrowing. (Tue, 07 Feb 2006 19:00:23 GMT)
Bank Waited Years To Record $1.2M Loan To Patrick
An Atlanta-based bank waited two years before publicly recording a $1.2 million home mortgage it gave gubernatorial candidate Deval Patrick in 2003, according to records. (Tue, 07 Feb 2006 19:22:16 GMT)
Bank waited two years to record $1.2 million loan to Patrick
(Boston - AP) - Records show an Atlanta bank waited two years before publicly recording a one-point-two million dollar home mortgage it gave to Deval Patrick in 2003. (Tue, 07 Feb 2006 19:37:41 GMT)
Mortgage Prepayments Drop to Slowest Pace Since 2003 (Update2)
Feb. 7 (Bloomberg) -- U.S. homeowners paid off their mortgages at the slowest pace in almost three years as rising prices and interest rates cooled the housing market and builders reported declining orders. (Tue, 07 Feb 2006 19:37:49 GMT)
Fitch Upgrades 8 Classes of GS Mortgage II Series 2001-GLIII
NEW YORK----Feb. 7, 2006--Fitch Ratings upgrades the following classes of GS Mortgage Securities Corp. II's commercial mortgage pass-through certificates, series 2001-GLIII, as follows: $50 million class B to 'AAA' from 'AA+'; $18.8 million class C to 'AAA' from 'AA'; $28.1 million class D to 'AA-' from 'A+'; $7.1 million class F-DDR to 'A' from 'A-'; $5.9 million class G-DDR to 'A-' from (Tue, 07 Feb 2006 20:03:00 GMT)
U.S. Consumer Credit Rises $3.35 Billion in December, Fed Says
Feb. 7 (Bloomberg) -- U.S. consumer borrowing rose for a second month in December while finishing 2005 with the smallest annual gain in 13 years, a Federal Reserve report showed. (Tue, 07 Feb 2006 20:08:09 GMT)
ShareChat News: Attractive rates name of game
Weekly home loan report: More, more and still more - there's no let-up in the fixed rate decreases. (Tue, 07 Feb 2006 21:15:23 GMT)
Weekly Home Loan Report: 8 - 14 February, 2006
Attractive rates name of the game. More, more and still more - there's no let-up in the fixed rate decreases. (Tue, 07 Feb 2006 21:21:43 GMT)
Bill would subject mortgage brokers to consumer protection laws
COLUMBUS, Ohio -- Home buyers could sue or seek attorney general action against deceptive lenders and Ohio would toughen licensing and regulation in the mortgage market under a proposal that Senate leaders want to pass quickly. (Wed, 08 Feb 2006 00:18:49 GMT)
ClubLink Announces New 6.194% $65 Million 20 Year Fully Amortizing Mortgage and Partial Redemption of Outstanding 6%
KING CITY, ONTARIO-- - ClubLink Corporation announced today that it has completed a Canadian $65 million mortgage with Pacific Life Insurance Company. The facility bears interest at 6.194%, is fully amortizing over its 20 year term and is secured by the assets of three of ClubLink's unencumbered golf clubs. (Wed, 08 Feb 2006 01:42:09 GMT)
ClubLink Announces New 6.194% $65 Million 20 Year Fully Amortizing Mortgage and Partial Redemption of Outstanding 6%
KING CITY, Ontario----Feb. 7, 2006--ClubLink Corporation announced today that it has completed a Canadian $65 million mortgage with Pacific Life Insurance Company. The facility bears interest at 6.194%, is fully amortizing over its 20 year term and is secured by the assets of three of ClubLink's unencumbered golf clubs. (Wed, 08 Feb 2006 01:44:00 GMT)
Las Vegas Retail Center Secures $23.5 Million in Financing
Dallas-based Cypress Equities has secured $23.5 million in acquisition financing for its 58,532-square-foot Paradise Esplanade shopping center in Las Vegas. The Dallas office of Holliday Fenoglio Fowler L.P. secured the financing on behalf of Cypress Equities. (Wed, 08 Feb 2006 02:05:47 GMT)
Home loan seekers need to stay on toes
Did your loan officer sit you down and walk you through all the key operational details of your most recent mortgage before you signed on the dotted line? (Wed, 08 Feb 2006 04:04:57 GMT)
Mortgage rates edge up again
Mortgage rates around the country went up this week, with rates on 30-year mortgages climbing to their highest point since late December. (Wed, 08 Feb 2006 04:05:17 GMT)
Other News in Brief: Hawaiian Hotelier Gains $40.5M in Financing; Massachusetts Condo Sales Up, Single-Family Home
Hawaiian Hotelier Gains $40.5M in Financing Strategic Capital Solutions L.L.C. said today that it has assisted a leading Hawaiian hotelier, Andre Tatibouet, to emerge from bankruptcy and regain his foothold as a leader in the hospitality market, by successfully closing a $40.5 million debtor-in-possession loan. (Wed, 08 Feb 2006 04:05:50 GMT)
ING Bank cuts interest loan rate
ING Bank has cut the interest rate on a number of its variable loan mortgage products. - (Wed, 08 Feb 2006 05:38:15 GMT)
Who gets tax benefit in joint home loans?
Our home loan expert explains that you need to be an owner or co-owner to get any tax benefit on a home loan. (Wed, 08 Feb 2006 05:44:08 GMT)
Garry Grant Joins Harvest Home Mortgage in Orlando and Hosts Live Radio Talk Show on Orlando's WOKB AM 1600
Garry Grant, who joined the Orlando office of Harvest Home Mortgage as the company’s branch manager, hosts a radio show on Central Orlando’s WOKB AM 1600. Grant reaches out to the public by offering practical insight to listeners who want information about mortgage options. [PRWEB Feb 8, 2006] (Wed, 08 Feb 2006 08:31:03 GMT)
Ex-Southfield mortgage firm VP sentenced in fraud
A 41-year-old Beverly Hills mother of three who was a vice president at a Southfield mortgage firm that cost investors and a Detroit pension fund $256 million after its collapse was sentenced to two years in prison Tuesday. (Wed, 08 Feb 2006 09:21:08 GMT)
ICICI bank will increase home loan rates by 50 bps
India's largest private lender ICICI Bank on Tuesday said that it will increase its home loan rates by 50 basis points "anytime before the end of the current fiscal." (Wed, 08 Feb 2006 09:30:04 GMT)
ICICI Bk to hike home loan rates by 50bps
ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal." (Wed, 08 Feb 2006 09:38:53 GMT)
ICICI bank to raise home loan rates by 50 bps
ICICI Bank on Wednesday said it will raise its home loan rates by 50 basis points "anytime before the end of current fiscal." (Wed, 08 Feb 2006 09:52:07 GMT)
Proposed mortgage rules
Applies the Consumer Sales Practices Act to mortgage brokers and loan officers employed by non-bank mortgage lenders. Mandates licenses for all residential real estate appraisers. (Wed, 08 Feb 2006 09:58:20 GMT)
ICICI Bank to hike home loan rates by 0.5%
ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal". (Wed, 08 Feb 2006 10:06:16 GMT)
Ohio bill targets home-loan fraud
Ohio's bid to crack down on predatory mortgage lending and curb its sky-high foreclosure rate appeared to gain new momentum Tuesday, as Republican state senators unveiled a compromise bill to be introduced today in committee. (Wed, 08 Feb 2006 10:43:38 GMT)
ICICI to hike home loan rates
India's largest private lender ICICI Bank on Wednesday said it will increase its home loan rates by 50 basis points "anytime before the end of the current fiscal." (Wed, 08 Feb 2006 10:44:15 GMT)
MortgageBrokers.com Continues Rapid Organic Growth With Additions of Veteran Mortgage Brokers
MortgageBrokers.com Holdings Inc. (OTC BB: MBKR), a compelling and recognizable mortgage brokerage brand and consolidation firm serving the North American mortgage broker and financial industry, announced today the appointment of some of industry's top mortgage brokers and mortgage originators. (Wed, 08 Feb 2006 11:30:00 GMT)
Toshiba: Westinghouse purchase to pay off
FEB. 8 5:48 A.M. ET Toshiba Corp. is confident the purchase of U.S. nuclear power company Westinghouse Electric Co. will pay off, and the Japanese electronics maker is in talks with several possible minority-stake partners, the president said Wednesday. (Wed, 08 Feb 2006 11:54:10 GMT)
Toyota to expand output capacity in Canada
FEB. 8 12:36 A.M. ET Toyota Motor Corp., whose solid growth could soon put it ahead of General Motors as the world's largest automaker, said Wednesday it will increase output capacity at a new assembly plant it is building in Canada. (Wed, 08 Feb 2006 11:55:13 GMT)
Grupo Ferrovial considers bid for BAA
FEB. 8 6:39 A.M. ET Spanish infrastructure company Grupo Ferrovial SA said Wednesday it is considering making a takeover bid for BAA PLC, the owner of Britain's major airports. (Wed, 08 Feb 2006 11:55:33 GMT)
ProSiebenSat.1 says '05 net profit higher
FEB. 8 5:57 A.M. ET German broadcaster ProSiebenSat.1 Media AG, whose takeover by rival Axel Springer was blocked by regulators, said Wednesday that its 2005 profit rose 65 percent. (Wed, 08 Feb 2006 11:55:43 GMT)
Price war dents Peugeot's 2005 profit
FEB. 8 5:43 A.M. ET PSA Peugeot Citroen reported a 37 percent drop in 2005 net profit as fierce price competition and weaker car sales in Europe, higher raw material prices and an unfavorable product mix ate into profitability. (Wed, 08 Feb 2006 11:55:53 GMT)
IG Metall begins talks with employers
FEB. 8 5:31 A.M. ET One of Germany's biggest unions on Wednesday began wage talks with employers, striving for a 5 percent increase in salaries that could set the agenda for labor in Europe's biggest economy. (Wed, 08 Feb 2006 11:56:03 GMT)
Home sales expected to slow, but not sink in '06
Home sales will fall 4.7% in 2006 as house prices rise at rates far below those notched last year, but the housing market should remain healthy by historic standards, a trade group said Tuesday. (Wed, 08 Feb 2006 12:01:40 GMT)
US mortgage applications fall last week: MBA
U.S. mortgage applications fell for a second consecutive week, led by a decline in home purchase loans, as interest rates hit their highest levels since early December, an industry trade group said on Wednesday. (Wed, 08 Feb 2006 12:09:30 GMT)
Mortgage applications fall last week: MBA
Mortgage applications fell for a second consecutive week, led by a decline in home purchase loans, as interest rates hit their highest levels since early December, an industry trade group said on Wednesday. (Wed, 08 Feb 2006 12:33:34 GMT)
Mortgage applications fall
Industry trade group says reading declines for second week straight as interest rates hit highest levels since early December. (Wed, 08 Feb 2006 12:33:54 GMT)
€29,000 repaid after mortgage move
Financial Services Ombudsman Joe Meade ordered a building society to repay €29,000 to a couple after they were charged a fee for switching their mortgage to another institution. (Wed, 08 Feb 2006 12:36:23 GMT)
Mortgage provider ordered to repay €29,000 to couple
An unnamed building society has been ordered to repay €29,000 to a couple who were charged a redemption fee of €59,000 for switching their mortgage to another provider. (Wed, 08 Feb 2006 12:51:04 GMT)
Mortgage provider ordered to repay €29,000 to couple
An unnamed building society has been ordered to repay €29,000 to a couple who were charged a redemption fee of €59,000 for switching their mortgage to another provider. (Wed, 08 Feb 2006 13:06:42 GMT)
Home mortgage rates edge up to 6.25%
Interest rates on 30-year fixed-rate mortgages hit their highest levels since early December as applications fell for a second consecutive week. (Wed, 08 Feb 2006 13:28:06 GMT)
Company to Pay $325 Million, Reform Its Lending Practices
Ameriquest Mortgage Co., the nation’s largest subprime lender, will pay $295 million to thousands of consumers and $30 million to 49 states and Washington, D.C., according to Attorney General Roy Cooper. (Wed, 08 Feb 2006 13:28:54 GMT)
(AFX UK Focus) 2006-02-08 14:13 GMT: Weekly mortgage applications lower; rates flat to higher
WASHINGTON (AFX) -- Mortgage applications activity eased in the week ended Feb. 3 compared to the prior week, the Mortgage Bankers Association said. (Wed, 08 Feb 2006 14:36:28 GMT)
Mortgage provider ordered to repay €29,000 to couple
An unnamed building society has been ordered to repay €29,000 to a couple who were charged a redemption fee of €59,000 for switching their mortgage to another provider. (Wed, 08 Feb 2006 14:36:30 GMT)
ICICI to increase home loan rates
India's largest private lender ICICI Bank on Tuesday said that it will increase its home loan rates by 50 basis points "anytime before the end of the current fiscal." (Wed, 08 Feb 2006 15:12:30 GMT)
ICICI bank will increase home loan rates by 50 bps
India's largest private lender ICICI Bank today said it will increase its home loan rates by 50 basis points "anytime before the end of the current fiscal." (Wed, 08 Feb 2006 15:17:21 GMT)
Weekly mortgage applications lower; rates flat to higher
Weekly mortgage applications lower; rates flat to higher (Wed, 08 Feb 2006 15:33:39 GMT)
MortgageBrokers.com Continues Rapid Organic Growth With Additions of Veteran Mortgage Brokers
MortgageBrokers.com Holdings Inc.(OTC BB: MBKR), a compelling and recognizable mortgage brokerage brand andconsolidation firm serving the North American mortgage broker and financialindustry, announced today the appointment of some of industry's topmortgage brokers and mortgage originators. (Wed, 08 Feb 2006 15:35:20 GMT)
Mortgage Applications Fall
The Morgage Bankers Association on Wednesday said that the number of mortgage applications fell for the second consecutive week. (Wed, 08 Feb 2006 15:37:58 GMT)
Allianz sees operating profit of $9B
FEB. 8 10:45 A.M. ET Insurer Allianz AG said Wednesday it expects to post a 2005 operating profit of approximately 7.6 billion euros ($9 billion), up 11.8 percent from the 6.8 billion euros it recorded in 2004. (Wed, 08 Feb 2006 16:39:15 GMT)
Freddie Mac sees optimistic '06
Economic growth should snap back strongly in the first half of 2006 to above 4 percent, according to a report Wednesday. (Wed, 08 Feb 2006 17:03:52 GMT)
Press Release
WASHINGTON, D.C. (February 8, 2006) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 3. The Market Composite Index — a measure of mortgage loan application volume was 619.3 – a decrease of 1.2 percent on a seasonally adjusted basis from 626.8 one week earlier. (Wed, 08 Feb 2006 18:00:10 GMT)
Home loan applications fall 2nd straight week
U.S. mortgage applications fell for a second consecutive week, led by a decline in home purchase loans, as interest rates hit their highest levels since early December, an industry trade group said on Wednesday. (Wed, 08 Feb 2006 18:11:32 GMT)
ARM DEMAND FALLS, REFINANCING MUTED
An increasing number of borrowers have been converting their ARMs into new fixed-rate loans as the difference between adjustable and fixed mortgage interest rates narrow, analysts say, and this has been a factor behind the rise in demand for refinancing in recent weeks and a decline in demand for ARMs. (Wed, 08 Feb 2006 18:19:24 GMT)
ICICI, SBI to hike home loan rates
ICICI Bank, the country’s second biggest mortgage lender, has decided to increase interest rates on home loans by 50 basis points across the board before end of March 2006. (Wed, 08 Feb 2006 18:39:19 GMT)
ICICI Bank hikes home loan rates by 50 bps
Finally, after a spell of wait and watch, the country's second largest commercial bank, ICICI Bank, announced its plans to increase its home loan/ mortgage loan rates by 50 basis points shortly. (Wed, 08 Feb 2006 19:06:30 GMT)
Pfizer Feels Investors' Pain
A plan to spin off the consumer division may not help the bottom line, but it shows a commitment to boosting the share price (Wed, 08 Feb 2006 19:40:42 GMT)
Weekly Home Mortgage Rates
Weekly Home Mortgage Rates (Wed, 08 Feb 2006 20:18:40 GMT)
Weekly Home Mortgage Rates
Average mortgage rates for single-family homes in the 10 largest metropolitan areas as of Feb. 8 as compiled by bankrate.com. The rates are for 30-year, fixed-rate mortgages for 80 percent of the value of the house. A point is a one-time fee equaling one percent of mortgage. (Wed, 08 Feb 2006 20:48:53 GMT)
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Arrow Mortgage CORPORATION Your Dream ... Our Solutions! Serving all of Massachusetts, New Hampshire, Maine, Rhode Island and Florida It is our #1 priority to provide all of our clients with the utmost honest, professional service. (Wed, 08 Feb 2006 23:21:25 GMT)
Bill would control mortgage brokers
COLUMBUS - Home buyers could sue or seek attorney general action against deceptive lenders, and Ohio would toughen licensing and regulation in the mortgage market under a proposal that Senate leaders want to pass quickly. (Thu, 09 Feb 2006 06:11:04 GMT)
Mortgage rates edge up again
Mortgage rates around the country went up this week, with rates on 30-year mortgages climbing to their highest point since late December. (Thu, 09 Feb 2006 06:35:17 GMT)
Local families part of case against Ameriquest
AKingston woman and a Whitman resident are among the thousands of victims in Massachusetts who will see some justice after Ameriquest Mortgage Co., the largest secondary mortgage company in the U.S., agreed last week to pay $325 million to settle pending criminal charges. (Thu, 09 Feb 2006 09:59:28 GMT)
Mortgage rates rise, cash-out refis gain appeal
The 30-year fixed mortgage rate rose to 6.32 percent this week, spooking holders of adjustable loans, who want to lock down a fixed rate and get some cash to boot. (Thu, 09 Feb 2006 11:00:00 GMT)
Trying to lower mortgage payment
You can extend the term, but that will increase your interest costs, says Dr. Don. (Thu, 09 Feb 2006 11:00:00 GMT)
Inflation at 3% on higher mortgage repayments
The latest figures from the Central Statistics Office show that higher mortgage interest repayments as well as more expensive electricity and bin charges led to a rise in inflation in January. The CSO says that the annual rate of inflation rose to 3% last month from 2.5% in December. (Thu, 09 Feb 2006 11:31:04 GMT)
FDA seeks 'Mortgage Makers'
Just a year after moving into its new Riverfront Theatre, things were looking bleak for the Fairbanks Drama Association. The $554,000 mortgage on the facility, which opened in late 2000, was becoming too much for the nonprofit organization to bear. (Thu, 09 Feb 2006 12:13:18 GMT)
Bankrate: Mortgage Rates Rise for Third Consecutive Week
Both fixed and adjustable mortgage rates increased for the third consecutive week, with adjustable rate mortgages posting the most significant changes. The average 30-year fixed rate mortgage increased from 6.28 percent to 6.32 percent, according to Bankrate.com's weekly national survey of large lenders. (Thu, 09 Feb 2006 12:30:00 GMT)
Bankrate: Mortgage Rates Rise for Third Consecutive Week
NEW YORK, Feb. 9 /PRNewswire-FirstCall/ -- Both fixed and adjustable mortgage rates increased for the third consecutive week, with adjustable rate mortgages posting the most significant changes. (Thu, 09 Feb 2006 12:40:06 GMT)
Trying to lower mortgage payment
Dear Dr. Don, With 15 years left on a 30-year mortgage (variable rate), is there a way to refinance a home to achieve a lower monthly payment as well as a lower interest rate? (Thu, 09 Feb 2006 12:42:21 GMT)
Borland Helps Aegis Mortgage IT Respond More Quickly to Business Needs
CUPERTINO, Calif.----Feb. 9, 2006--Borland Software Corporation , the global leader for Software Delivery Optimization, today announced Aegis Mortgage Corporation, a top 40 mortgage lender in the U.S., has deployed Borland® Together® to give the company the strategic edge it needed to establish an SOA and create a software development implementation discipline that would meet Aegis' short- and (Thu, 09 Feb 2006 13:00:00 GMT)
Luminent Mortgage Capital, Inc. Announces 4th Quarter Earnings
Luminent Mortgage Capital, Inc. today reported a net loss for the quarter ended December 31, 2005 of $113.4 million, or $2.79 loss per share, and REIT taxable net income for the quarter ended December 31, 2005 of $0.4 million, or $0.01 per share. (Thu, 09 Feb 2006 13:00:00 GMT)
Inflation surges to 3.0 percent in Ireland
FEB. 9 7:58 A.M. ET Inflation in Ireland rose more strongly than expected last month to 3.0 percent, the Central Statistics Office reported Thursday, citing strong gains in the cost of housing, energy and local taxes. (Thu, 09 Feb 2006 13:09:10 GMT)
Group: German economic growth may slow
FEB. 9 7:47 A.M. ET Economic research institute DIW said Thursday that growth in Germany will likely slow during the first quarter because of cold weather halting some construction. (Thu, 09 Feb 2006 13:09:20 GMT)
Bank of England holds rates steady
FEB. 9 8:24 A.M. ET The Bank of England kept its key interest rate steady at 4.5 percent on Thursday for the sixth month in a row. (Thu, 09 Feb 2006 13:39:10 GMT)
Mortgage probe to bring more arrests
A Hattiesburg businessman promised to pay people to use their names on fraudulent loan applications as part of a complicated two-year mortgage scheme outlined in a federal indictment. (Thu, 09 Feb 2006 16:30:41 GMT)
ANTs and SFG Bancorp Launch New Services with Potential to Transform Mortgage Industry
ANTs software, inc. (BULLETIN BOARD: ANTS) , a developer of universally compatible, high-performance database management systems, today announced that SFG Bancorp, a full-service direct mortgage lender and real estate brokerage based in Pleasanton, California, is using the ANTs Data Server 3.4 to break the connection throughput barrier for its new integrated mortgage lending application, while (Thu, 09 Feb 2006 16:51:52 GMT)
U.S. mortgage rates edge up; 30-year at 6.24%
CHICAGO (MarketWatch) -- Mortgage rates were little changed in the latest week, with the national average rate on the benchmark 30-year loan inching higher to 6.24% from 6.23% a week ago, Freddie Mac said Thursday. (Thu, 09 Feb 2006 16:55:42 GMT)
Fitch Rates $545.4MM IndyMac ABS, Inc. HE Mortgage Loan Trust INABS 2006-A
NEW YORK----Feb. 9, 2006--IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series INABS 2006-A is rated by Fitch Ratings as follows: $437 million classes A-1, A-2, A-3, and A-4 certificates AAA', $21.2 million classes M-1 certificates 'AA+'; $19.3 million classes M-2 certificates 'AA+'; $11.4 million class M-3 certificates 'AA+'; $9.8 million class M-4 certificates 'AA'; $9.8 million class (Thu, 09 Feb 2006 18:31:00 GMT)
Plea in mortgage fraud scheme
The former operator of a Cincinnati real estate company faces up to 30 years in prison and $1 million in fines after agreeing to plead guilty in the ongoing federal probe of mortgage fraud in Greater Cincinnati. (Thu, 09 Feb 2006 20:22:50 GMT)
Plea in mortgage fraud scheme
The former operator of a Cincinnati real estate company faces up to 30 years in prison and $1 million in fines after agreeing to plead guilty in the ongoing federal probe of mortgage fraud in Greater Cincinnati. (Thu, 09 Feb 2006 20:25:59 GMT)
Too-Good-To-Be-True Offers Leave Borrowers in a Bind
RISMEDIA, Feb. 10 — (KRT) — The promise of easy money comes in an official-looking envelope marked, "Important Financial Information Enclosed." Need $2.5 million at 1 percent to 2 percent to buy or refinance a home? No problem. (Thu, 09 Feb 2006 20:59:17 GMT)
Mortgage Rates Rise for Third Consecutive Week
RISMEDIA, Feb. 10 — Both fixed and adjustable mortgage rates increased for the third consecutive week, with adjustable rate mortgages posting the most significant changes. (Thu, 09 Feb 2006 20:59:28 GMT)
Annaly Mortgage Management, Inc. Announces 4th Quarter and Annual 2005 Results
NEW YORK----Feb. 9, 2006--Annaly Mortgage Management, Inc. today reported a net loss for the quarter ended December 31, 2005 of $136.8 million or $1.14 basic net loss per average share available to common shareholders, as compared to net income of $59.3 million or $0.46 basic net income per average share available to common shareholders for the quarter ended December 31, 2004 and $21.2 million (Thu, 09 Feb 2006 21:13:00 GMT)
Cairns Lockie Mortgage Commentary
Welcome to the first Cairns Lockie Mortgage Commentary for 2006. This is a fortnightly electronic newsletter, which aims to keep you informed on developments at Cairns Lockie, Mortgage Bankers and the mortgage market in general. (Thu, 09 Feb 2006 21:54:14 GMT)
Morgan Stanley sees expanding mortgage business
NEW YORK, Feb 9 (Reuters) - Morgan Stanley will expand its mortgage business in the United States, Europe and Asia through investment, acquisitions and by working with its U.S. brokerage network, the securities firm's top fixed-income executive said Thursday. (Thu, 09 Feb 2006 22:38:05 GMT)
Webber: Paying off your mortgage early
Have you thought about adding a little more to your mortgage payment each month? It might be a good strategy for you. In most cases, paying extra on your mortgage each month would save you interest and help you pay off the loan sooner. (Thu, 09 Feb 2006 22:59:06 GMT)
Mandate National Mortgage Corporation - Fourth quarter 2005 dividend
On behalf of the Board of Directors of Mandate National Mortgage Corporation , Mr. Alan E. R. Long, President, is pleased to announce the dividend payment rate to shareholders of record as at December 31, 2005 is $0.22 per share and will be paid February 15, 2006. (Thu, 09 Feb 2006 23:27:00 GMT)
Australia's December Home-Loan Approvals Rise 0.9% (Update1)
Feb. 10 (Bloomberg) -- Australia's home-loan approvals rose in December as increased optimism the central bank would refrain from raising interest rates fueled borrowing. (Fri, 10 Feb 2006 01:05:55 GMT)
Australia's December Home-Loan Approvals Rise 0.9% (Update3)
Feb. 10 (Bloomberg) -- Australia's home-loan approvals rose in December to a two-year high as increased optimism the central bank would refrain from raising interest rates fueled borrowing. (Fri, 10 Feb 2006 04:20:57 GMT)
S&P Boosts XM Satellite to Strong Buy
Analyst Tuna Amobi thinks the company scored a coup with its Oprah signing. Plus: Analyst actions on Human Genome Sciences and more (Fri, 10 Feb 2006 04:29:35 GMT)
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BERKSHIRE FINANCIAL GROUP, INC. LICENSED MORTGAGE BANKERS MARK ENTLER Mortgage Consultant NY, NJ, PA, FL, MD, IL, CA, CO BANKING DEPARTMENT Turning Negative Amortizing Loans Into Positive Cash Flow BERKSHIRE FINANCIAL GROUP, INC. A place for everyone, A home for every loan. (Fri, 10 Feb 2006 05:52:11 GMT)
Australia's December Home-Loan Approvals Rise 0.9% (Update4)
Feb. 10 (Bloomberg) -- Australia's home-loan approvals rose in December to a two-year high as increased optimism the central bank would refrain from raising interest rates fueled borrowing. (Fri, 10 Feb 2006 06:06:29 GMT)
Riverside mortgage reclaimed
BRADENTON - The owners of Palmetto's Riverside Plaza effectively bought back a second mortgage on their building up for auction at the courthouse Thursday. (Fri, 10 Feb 2006 08:13:09 GMT)
30-Year Mortgage Rates Up for Third Week
Rates on 30-year mortgages rose to 6.24% this week, up from 6.23% last week, mortgage company Freddie Mac said. It was a third consecutive weekly increase. (Fri, 10 Feb 2006 08:15:36 GMT)
California Lawyer Warns Mortgage Lenders of Referral Fee Prohibitions in Federal Law
A conference of loan officers was warned by Beverly Hills Attorney Lawrence H. Jacobson that referral fees and splitting of fees with realtors and others in most regulated mortgage transactions is illegal. [PRWEB Feb 10, 2006] (Fri, 10 Feb 2006 08:16:50 GMT)
Time to bet on fixed-rate mortgage
The fact that the Federal Reserve's Open Market Committee raised short-term rates another quarter of a percentage point last week isn't, by itself, such a big deal. (Fri, 10 Feb 2006 09:12:30 GMT)
30-year mortgage rates inch up again
WASHINGTON -- Rates on 30-year mortgages edged up for a third straight week, rising to the highest level since late December, Freddie Mac reported Thursday. The giant mortgage company said its nationwide survey showed that rates on 30-year mortgages rose to 6.24%, up from 6.23% last week. (Fri, 10 Feb 2006 10:11:10 GMT)
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