Mortgage News Feb 2006

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California Lawyer Warns Mortgage Lenders of Referral Fee Prohibitions in Federal Law
Fort Lauderdale, FL (PRWEB) February 10, 2006 -- The collaboration between a mortgage lender and a real estate broker generally works to benefit home buyers, enabling them to complete a purchase or refinancing transaction at favorable terms. (Fri, 10 Feb 2006 12:00:00 GMT)

Arbor Realty Trust Reports Fourth Quarter and Full Year 2005 Results
Arbor Realty Trust, Inc. , a real estate investment trust focused on the business of investing in real estate related bridge and mezzanine loans, preferred and direct equity investments, mortgage-related securities and other real estate related assets, today announced financial results for the fourth quarter and year ended December 31, 2005. (Fri, 10 Feb 2006 12:30:00 GMT)

BofA to close former MBNA mortgage centers
Bank of America Corp. told employees last week that it will close the mortgage centers of the former MBNA Corp., shifting their work to its own centers, a spokeswoman said Thursday.The Charlotte company has not determined how many jobs will be lost as a result, spokeswoman Julie Davis said. Bank of America plans to cut 6,000 jobs in total as it swallows MBNA. (Fri, 10 Feb 2006 12:35:46 GMT)

BofA to close former MBNA mortgage centers
Bank of America Corp. told employees last week that it will close the mortgage centers of the former MBNA Corp., shifting their work to its own centers, a spokeswoman said Thursday.The Charlotte company has not determined how many jobs will be lost as a result, spokeswoman Julie Davis said. (Fri, 10 Feb 2006 12:38:33 GMT)

Bruss: Clear-title papers often slow in arriving
Question: My home mortgage will be paid off in eight months. After my final payment, what should I expect to receive from the bank? Is there anything my wife and I should do with our wills or anything else? - Al C. (Fri, 10 Feb 2006 13:43:11 GMT)

Should You Insure That Mortgage?
You've got a darling family, and now you even have a brand new home! With a brand new mortgage to boot, of course. Many people at this stage in their life have some occasional dark thoughts, like a flashing image of themselves getting run over by a bus, and they suddenly wonder how their family will pay off the mortgage on their own. It's a valid worry. (Fri, 10 Feb 2006 13:57:31 GMT)

Should You Insure That Mortgage?
Mortgage life insurance isn't as useful as it sounds. There are other options to consider. (Fri, 10 Feb 2006 13:57:31 GMT)

Mortgage rates firm below 6%
Mortgage rates across Hawaii, after testing the 6 percent level at the end of January, settled in one eighth lower this week. (Fri, 10 Feb 2006 15:08:12 GMT)

Should You Insure That Mortgage?
You've got a darling family, and now you even have a brand new home! With a brand new mortgage to boot, of course. (Fri, 10 Feb 2006 15:11:41 GMT)

Mortgage rates inch to 6.24%
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 percent, up from 6.23 percent last week. It was the third consecutive increase and left the 30-year mortgage at the highest level (Fri, 10 Feb 2006 15:24:39 GMT)

Getting Wed With The Wrong Loan!
Many people pay for a wedding, car, holiday or home improvements with a personal loan. However, choosing the wrong deal can cost you thousands! (Fri, 10 Feb 2006 15:33:40 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. (Fri, 10 Feb 2006 15:49:34 GMT)

Bristol Town Council extends troubled project $152,000 loan for land
Students in the Mt. Hope Home Builders Project will have a home to build next year, thanks to a loan from the Bristol Town Council. (Fri, 10 Feb 2006 16:08:44 GMT)

Southern Community hires mortgage chief
Southern Community Bank and Trust has hired John Manning to serve as vice president and head of the mortgage department, the company announced. (Fri, 10 Feb 2006 16:29:46 GMT)

BofA to close former MBNA mortgage centers
Bank of America Corp. told employees last week that it will close the mortgage centers of the former MBNA Corp., shifting their work to its own centers, a spokeswoman said Thursday.The Charlotte company has not determined how many jobs will be lost as a result, spokeswoman Julie Davis said. Bank of America plans to cut 6,000 jobs in total as it swallows MBNA. (Fri, 10 Feb 2006 18:06:09 GMT)

London share prices finish lower
FEB. 10 12:50 P.M. ET Share prices on the London Stock Exchange closed lower Friday. (Fri, 10 Feb 2006 18:24:30 GMT)

Banks urged to check home loan frauds
Borrowers adding names of co-applicants to avail of a higher loan amounts. The Reserve Bank of India (RBI) has warned banks of rising incidents of frauds in home loans. The central bank has directed all banks to strictly adhere to due diligence procedures while disbursing the loans. (Fri, 10 Feb 2006 18:40:22 GMT)

Banks urged to check home loan frauds
Borrowers adding names of co-applicants to avail of a higher loan amounts. The Reserve Bank of India (RBI) has warned banks of rising incidents of frauds in home loans. The central bank has directed all banks to strictly adhere to due diligence procedures while disbursing the loans. (Fri, 10 Feb 2006 19:09:25 GMT)

Mortgage rates edge up a tad, no end in sight
Mortgage rates edge up a tad, no end in sight (Fri, 10 Feb 2006 19:33:32 GMT)

Mortgage rates still on the rise
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 percent, up from 6.23 percent last week. (Fri, 10 Feb 2006 20:48:07 GMT)

Real Estate Weekly -- Feb. 10
The mortgage refinancing boom is long over. But that hasn't prevented thousands of homeowners from grabbing new mortgages and taking a lot of cash with them in process. The question is whether that year-end refinancing was a wise switch of variable-rate debt to fixed rates or was used to fuel a last-gasp spending spree. (Fri, 10 Feb 2006 20:51:27 GMT)

Woman In Mortgage Fraud Pleads Guilty
BUTLER TOWNSHIP, Ohio -- Authorities said a Butler Township woman pleaded guilty to a scheme to launder money for drug dealers. Police said Kimberly McGuinness worked at American Funding Group in Clayton. DEA and the IRS agents raided the mortgage company in 2004, along with McGuinness’ home. (Fri, 10 Feb 2006 22:28:35 GMT)

Consumer Watch | Lenders' prey get some justice
Gary Goldsmith didn't know anything about Ameriquest Mortgage Co. when he got a phone call 51/2 years ago offering to refinance the mortgage on his Marlton home. (Fri, 10 Feb 2006 22:53:47 GMT)

Judge approves Met Mortgage bankruptcy plan
SPOKANE -- A federal bankruptcy judge has approved a plan to liquidate Metropolitan Mortgage and Securities Company's assets, setting in motion a process to reimburse the company's thousands of creditors. (Sat, 11 Feb 2006 00:17:42 GMT)

Woolwich launches market-leading mortgage
WOOLWICH has launched a ten-year fixed-rate mortgage that leads the market at a rate of 4.67 per cent. (Sat, 11 Feb 2006 02:07:16 GMT)

A Mortgage in Reverse: Debtor Beware
The reverse mortgage is an unconventional and expensive way that people who are 62 and older can borrow the equity in their homes — and, in essence, never have to pay back a dime out of their own pockets. (Sat, 11 Feb 2006 04:20:38 GMT)

BofA to close former MBNA mortgage centers
Bank of America Corp. told employees last week that it will close the mortgage centers of the former MBNA Corp., shifting their work to its own centers, a spokeswoman said Thursday.The Charlotte company has not determined how many jobs will be lost as a result, spokeswoman Julie Davis said. Bank of America plans to cut 6,000 jobs in total as it swallows MBNA. (Sat, 11 Feb 2006 05:35:41 GMT)

Home loan frauds on the rise
The Reserve Bank of India has warned banks of rising incidents of frauds in home loans. The central bank has directed all banks to strictly adhere to due diligence procedures while disbursing the loans. (Sat, 11 Feb 2006 06:51:10 GMT)

Mortgage business shuttered
Bank of America plans to discontinue a former MBNA Corp. mortgage business, based near St. Louis, which had specialized in providing mortgage services on behalf of other lenders. (Sat, 11 Feb 2006 08:33:32 GMT)

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. Qualifications for borrowing and finance charges vary among institutions. Rates may differ from branch to branch. Some institutions provide lower rates to existing customers. (Sat, 11 Feb 2006 12:12:04 GMT)

Extra mortgage payment can mean big savings
Q: Can I make an extra payment that goes directly to principal along with my mortgage payment? If so, will this extra payment help reduce our mortgage payments? If I have a 30-year loan and make extra principal payments, will it reduce the amount of time and money that is owed on the home loan? (Sat, 11 Feb 2006 15:03:00 GMT)

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. Qualifications for borrowing and finance charges vary among institutions. Rates may differ from branch to branch. Some institutions provide lower rates to existing customers. (Sat, 11 Feb 2006 17:12:04 GMT)

Judge approves Met Mortgage bankruptcy plan
SPOKANE -- A federal bankruptcy judge has approved a plan to liquidate Metropolitan Mortgage and Securities Company's assets, setting in motion a process to reimburse the company's thousands of creditors. (Sun, 12 Feb 2006 00:32:32 GMT)

Cleaning up subprime mortgages
Ameriquest Mortgage Co.'s recent $325 million lawsuit settlement with 49 state governments suggests all isn't well in home-loan industry. The firm agreed to pay a staggering $295 million... (Sun, 12 Feb 2006 05:32:31 GMT)

Catering company gets Cumberland County loan
Cumberland County Economic Development, in partnership with F&M Trust, has announced a Cumberland Business First loan that will help a newly formed catering firm finance a move to a new location. (Sun, 12 Feb 2006 06:32:38 GMT)

HOUSTON MORTGAGE MONITOR
INDIVIDUAL LENDER RATES The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. Rates, which may change on Monday, are for 90 percent loans and do not include origination fees. The numbers in parentheses after the rates are discount points. A point is equal to 1 percent of the loan amount (Sun, 12 Feb 2006 07:06:22 GMT)

Mortgage controls sought
Last month, Arizona was part of a multistate $325 million predatory-lending settlement with Ameriquest, the nation's largest subprime lender. The agreement, which could result in hundreds of dollars in restitution for more than 14,000 Arizonans, was the second-largest consumer-protection settlement in U.S. history. It followed a similar 2002 agreement with Household Finance for $484 million. In (Sun, 12 Feb 2006 09:17:40 GMT)

Community Mortgage Corp.
At a glance: Community Mortgage Corp. is a mortgage loan broker, helping residential and commercial customers secure loans from one of about 50 different lenders. (Sun, 12 Feb 2006 11:24:34 GMT)

Timing is everything when buying a home
Melissa Bynum has toured nearly 50 East Bay properties since December in search of her ideal -- or at least obtainable -- first home. The Daly City office manager is hoping for a detached two bedroom, with a back yard and a garage. Bynum, the mother of an 11-year-old son, is also fixed on a safe neighborhood and good school district. (Sun, 12 Feb 2006 11:29:56 GMT)

OUT OF THE RED: Adding up tax savings, even if years don't yet
People often think of tax preparers like wine or cheese -- they can get better with age. (Sun, 12 Feb 2006 12:34:16 GMT)

OUT OF THE RED: Adding up tax savings, even if years don't yet
People often think of tax preparers like wine or cheese -- they can get better with age. (Sun, 12 Feb 2006 13:06:16 GMT)

OUT OF THE RED: Adding up tax savings, even if years don't yet
People often think of tax preparers like wine or cheese -- they can get better with age. (Sun, 12 Feb 2006 13:21:27 GMT)

Index-linked mortgage interest rate up further
The index-linked mortgage interest rate has risen 0.08% since the beginning of February 2006, to an average of 4.79%. (Sun, 12 Feb 2006 14:56:38 GMT)

OUT OF THE RED: Adding up tax savings, even if years don't yet
People often think of tax preparers like wine or cheese -- they can get better with age. (Sun, 12 Feb 2006 16:21:17 GMT)

MORTGAGES: House equity loans slacken
MILWAUKEE | No more remodeling for the Nowakowskis. Over the past 20 years, they've redone everything - windows, floors and added a master suite - in their Greenfield, Wis., house. (Sun, 12 Feb 2006 17:40:56 GMT)

Dr. Andrew Lo: Darwinian Investing
The MIT finance professor's market theory borrows from neuroscience, evolution, and econometrics (Sun, 12 Feb 2006 21:51:39 GMT)

Deficits: The CBO's Forecasts Look Too Rosy
(Sun, 12 Feb 2006 21:52:09 GMT)

Class, Take Out Your Games
How teachers are using computer games to pique the interest of tech-savvy kids (Sun, 12 Feb 2006 21:53:19 GMT)

B-School Turf Wars
Smaller programs are under siege as top-tier universities expand their reach (Sun, 12 Feb 2006 21:53:49 GMT)

Must Love Wing Tips
Executives tend to list eyes as their best feature (Sun, 12 Feb 2006 21:54:19 GMT)

Not Your Average Science Project
A high school student's study of successful fund managers yields some surprises (Sun, 12 Feb 2006 21:54:40 GMT)

How to decide your home loan tenure
Our investment planning expert offers help in this regard. (Mon, 13 Feb 2006 03:41:10 GMT)

India's ICICI Bank raises home-loan rates
MUMBAI, Feb 11 (Reuters) - India's largest private sector lender, ICICI Bank , will increase lending rates on home loans by 50 basis points across the board beginning on Monday, a spokesman said on Saturday. (Mon, 13 Feb 2006 04:01:50 GMT)

Busy? Not Got the Time
Purpleloans - Remortgage Deals Online - www.purpleloans.com Purpleloans. We offer all-purpose loans whatever your circumstances and past credit history. Use our calculators to see how much you can borrow. We also offer home refinancing and mortgages. (Mon, 13 Feb 2006 04:36:49 GMT)

MONEY MATTERS
Prepayment penalty rules may vary I refinanced my home and was surprised to learn I had to pay a huge prepayment penalty. I was charged $5,000 on an $83,000 loan and the prepayment penalty was in effect for the first seven years. Aren't penalties like these illegal? (Mon, 13 Feb 2006 05:10:19 GMT)

TEMPLE WORSHIP RETURNS
CHRIS TEMPLEMAN had a hero's welcome when he returned to his old stomping ground but even he was unable to inspire Brechin to victory. But the striker, who signed on-loan for the league's bottom club from Morton until the end of the season, was more than delighted to be back home. (Mon, 13 Feb 2006 05:22:30 GMT)

Saint Marks Church Has New Home After 150 Years On Beach Front
It's a new permanent home for St. Marks Episcopal Church after 150 years of worship on the beach in Gulfport. "I was christened there," says lifetime member Ms. Marshall Zora of Gulfport. "And then I was confirmed and married there." (Mon, 13 Feb 2006 05:43:01 GMT)

Busy? Not Got the Time
Purpleloans - Remortgage Deals Online - www.purpleloans.com Purpleloans. We offer all-purpose loans whatever your circumstances and past credit history. Use our calculators to see how much you can borrow. We also offer home refinancing and mortgages. (Mon, 13 Feb 2006 06:36:49 GMT)

CHECKLIST: Pros, cons of payoff
Low mortgage rates over the past few years have fueled a wave of refinancing. Some have borrowed against their home's equity or extended the payoff periods to lower their payments. And many have taken on more mortgage debt as home prices have soared. (Mon, 13 Feb 2006 08:11:33 GMT)

Harbor Credit Announces Launch of Private Label Program for Affiliates
Harbor Credit, the premier resource on automotive and consumer lending, today announced the launch of it’s Private Label Program in the auto and mortgage financing category, presenting a big opportunity to publishers and search marketers. [PRWEB Feb 13, 2006] (Mon, 13 Feb 2006 08:16:13 GMT)

Texas Residential Construction and Second Home Market has SunTrust Mortgage - Wholesale Division Positioned for Growth
Baby Boomers once again direct the market. Homeowners want to build their final home or second-vacation home, and Lot Loans and One-Time Close Programs at SunTrust Mortgage gives them the edge. [PRWEB Feb 13, 2006] (Mon, 13 Feb 2006 08:32:05 GMT)

Save or pay off mortgage? It depends
Low mortgage rates over the past few years fueled a wave of refinancing. Some of us borrowed against our home's equity or extended the payoff periods to lower our payments. (Mon, 13 Feb 2006 08:33:57 GMT)

The hybrid holiday home
Simon Busuttil (February 1) argues that foreigners, including citizens of European member states other than Malta, should be allowed to rent out a Malta holiday home during their absence from the island and that the outcome of our accession negotiations does not entitle Malta to prevent them from doing so. (Mon, 13 Feb 2006 08:52:15 GMT)

Home Depot in talks for stake in China
Home Depot, the world’s biggest do-it-yourself group, is in talks to acquire a large stake in Orient Home, one of China’s largest DIY chains. An agreement would mark the US group’s entry into the $50bn Chinese home improvement market. (Mon, 13 Feb 2006 09:42:00 GMT)

Release of the First Comprehensive Study of Predatory Mortgage Lending in Maine is Today
Coastal Enterprises Inc. of Wiscasset and the Center for Responsible Lending in Durham, N.C. will hold a press conference at 11:30 a.m. today in the Welcome Center of the state Capitol in Augusta to release the first study of its kind on predatory mortgage lending in Maine. (Mon, 13 Feb 2006 11:00:00 GMT)

Comparing finance costs on a mortgage
The magic number you use to compare costs is the annual percentage rate, says Dr. Don. (Mon, 13 Feb 2006 11:00:00 GMT)

Loss of house a signature away
Jackie Scott is fighting to save the home she signed away. Scott, a clerk at a hospital staffing firm, claims that she was tricked into giving up her Fort Lauderdale house. After falling six months behind on the mortgage and having her car repossessed, she was desperate to get some cash out of the home's equity. In court records, she says that Richard Barrett, a Miami mortgage broker, promised (Mon, 13 Feb 2006 11:12:47 GMT)

Shenhua expects to boost coal production
FEB. 13 5:18 A.M. ET China's largest coal producer Shenhua Energy Co. plans to increase its production by 64 percent in the next four years, the company said in a statement. (Mon, 13 Feb 2006 11:54:30 GMT)

Japan December current account surplus up
FEB. 12 7:54 P.M. ET Japan's current account surplus in December rose 8.6 percent on year to 1.748 trillion yen (US$14.85 billion; euro12.48 billion) before seasonal adjustment, the Ministry of Finance said Monday. (Mon, 13 Feb 2006 11:54:40 GMT)

Credit Suisse takes $322M charge in 4Q
FEB. 13 6:27 A.M. ET Banking giant Credit Suisse Group said Monday it is taking an unexpected charge of 421 million Swiss francs ($322 million) to its fourth-quarter net profit because it is advancing some stock-based compensation to employees. (Mon, 13 Feb 2006 11:55:00 GMT)

Wall Street Journal Sunday
Tracking medical bills and payments is a complicated task that even the most organized people can find daunting. But new software tools can help. (Mon, 13 Feb 2006 12:43:20 GMT)

Secured Funding Closes First Complete Electronic Home Equity Mortgage with Notary Pro, World Wide Notary
COSTA MESA, Calif.----Feb. 13, 2006-- Secured Funding, a full-service retail and wholesalelender specializing in second mortgages, has successfully completed the first electronic home equity mortgage in its history. (Mon, 13 Feb 2006 13:01:00 GMT)

NotaryPro Partners with Secured Funding and World Wide Notary to Close Their First Complete Electronic Mortgage
IRVINE, Calif.----Feb. 13, 2006--NotaryPro, a nationwide signing service dedicated to getting loan documents signed accurately and on time, has coordinated and completed their first electronic notarization and electronic mortgage closing with e-recording in the history of the company. (Mon, 13 Feb 2006 13:01:00 GMT)

Compare Remortgages
- www.beatthatquote.com Save 1000s. All UK all market all circumstances. Free quotation no obligation. - over 8500 mortgage and remortgages compared. (s) (Mon, 13 Feb 2006 13:21:49 GMT)

Comparing finance costs on a mortgage
Dear Dr. Don, I am a bit confused about comparing offers from lenders. I see that the lowest rates also have the highest fees, but still have the lowest payment per month. The lower fees have the higher rate and higher monthly payment. Why should I consider the later? (Mon, 13 Feb 2006 13:27:11 GMT)

German public workers expand strike
FEB. 13 7:53 A.M. ET German public workers expanded their week-old strike to much of the country Monday in a deepening dispute over plans to make some employees work 40 hours a week compared to their current 38.5 hours. (Mon, 13 Feb 2006 13:39:10 GMT)

Fitch: Payment Shock Risk For U.S. Subprime IO ARM Borrowers Growing
NEW YORK----Feb. 13, 2006--Beneath the strong performance of U.S. subprime interest-only mortgages in recent years may lie substantial payment shock to borrowers as the housing climate continues to cool and refinancing becomes more difficult, according to Fitch Ratings in the latest edition of 'Mortgage Principles and Interest'. (Mon, 13 Feb 2006 15:13:00 GMT)

Loss of house a signature away
Jackie Scott is fighting to save the home she signed away. Scott, a clerk at a hospital staffing firm, claims that she was tricked into giving up her Fort Lauderdale house. After falling six months behind on the mortgage and having her car repossessed, she was desperate to get some cash out of the home's equity. In court records, she says that Richard Barrett, a Miami mortgage broker, promised (Mon, 13 Feb 2006 15:41:30 GMT)

Report: Mainers Victimized By High Loan Rates
With their high rate of home ownership, Mainers are prime targets of predatory lenders -- according to a report being released Monday. We'll have full details tonight on News 8 WMTW at 6. (Mon, 13 Feb 2006 15:48:48 GMT)

Loss of house a signature away
Jackie Scott is fighting to save the home she signed away. Scott, a clerk at a hospital staffing firm, claims that she was tricked into giving up her Fort Lauderdale house. After falling six months behind on the mortgage and having her car repossessed, she was desperate to get some cash out of the home's equity. In court records, she says that Richard Barrett, a Miami mortgage broker, promised (Mon, 13 Feb 2006 15:56:56 GMT)

Mortgage Firms Merge as Loan Market Shrinks
By Andrea Gregory The sales of two Bay State mortgage companies last month may be just the first of many. With loan volume slowing, many industry watchers say a thinning of the ranks in the mortgage profession and industry consolidation are likely to accelerate in the coming year. (Mon, 13 Feb 2006 16:42:03 GMT)

Annaly Mortgage Management, Inc. Announces Preferred Dividend
NEW YORK----Feb. 13, 2006--In accordance with the terms of the Company's 7.875% Series A Cumulative Redeemable Preferred Stock, the Board of Directors of Annaly Mortgage Management has declared a preferred stock dividend for the first quarter of $0.492188 per share. (Mon, 13 Feb 2006 16:46:00 GMT)

Hughes signs on short term loan
The 19 year old, who is tipped to be a star of the future for Everton, has joined County on a one month loan to gain first team experience. Hughes looks to make his professional debut at home to Rochdale on Tuesday evening. (Mon, 13 Feb 2006 17:29:21 GMT)

Hughes signs on short term loan
The 19 year old, who is tipped to be a star of the future for Everton, has joined County on a one month loan to gain first team experience. Hughes looks to make his professional debut at home to Rochdale on Tuesday evening. (Mon, 13 Feb 2006 17:40:26 GMT)

Federal Home Loan Bank Names James E. Huston Chief Financial Officer
The Federal Home Loan Bank of Des Moines today announced it has created a new position of Chief Financial Officer and has named James E. Huston as interim CFO. Mr. Huston will assume responsibility for the accounting, financial reporting, and the financial business planning for the Bank and will assist the Bank in reaching its goal of SEC registration. (Mon, 13 Feb 2006 17:50:40 GMT)

Roche halts recruiting for Avastin trials
FEB. 13 12:46 P.M. ET Pharmaceutical maker Roche Holding AG said Monday it has stopped recruiting patients to test its cancer drug Avastin in late stage clinical trials after the deaths of some patients. (Mon, 13 Feb 2006 18:24:10 GMT)

P&O shareholders accept DP World bid
FEB. 13 12:36 P.M. ET Shareholders in British shipping company Peninsular & Oriental Steam Navigation Co. overwhelmingly voted in favor of a takeover bid from Dubai's DP World Monday. (Mon, 13 Feb 2006 18:24:21 GMT)

Credit Suisse takes $322M charge in 4Q
FEB. 13 12:54 P.M. ET Banking giant Credit Suisse group said Monday it is taking an unexpected charge of 421 million Swiss francs ($322 million) to its fourth-quarter net profit because it is advancing some share-based compensation to employees. (Mon, 13 Feb 2006 18:24:32 GMT)

Steelmaker ThyssenKrupp's 1Q profit falls
FEB. 13 12:37 P.M. ET German steelmaker ThyssenKrupp AG said Monday its first-quarter net profit fell 23 percent because of a decline in earnings at its stainless steel and automotive units. (Mon, 13 Feb 2006 18:24:44 GMT)

Business Profile
Name of business: Great Lakes Mortgage Solutions, Inc. Address: 9405 Bormet Drive, Suite 3, Mokena, IL 60448 Phone: (708) 479-2223 Web site and/or e-mail: glmsi@sbcglobal.net Length of time in business: Two months Owner(s): Steve and Kim Gignac What is your specialty? (Mon, 13 Feb 2006 18:28:10 GMT)

Fitch Affirms 6 Classes from Terwin Mortgage Trust, Series 2003-HE6
NEW YORK----Feb. 13, 2006--Fitch Ratings has affirmed the following classes from Terwin Mortgage Trust asset-backed certificates, series 2003-HE6: Class A at 'AAA'; Class M-1 at 'AA'; Class M-2 at 'A'; Class M-3 at 'A-'; Class M-4 at 'BBB+'; Class M-5 at 'BBB'. (Mon, 13 Feb 2006 19:49:00 GMT)

Ocwen Loan Servicing Seeks Reversal of a Galveston Court Decision, Reiterating Long-Standing Commitment to 'Win-Win'
A subsidiary of Ocwen Financial Corporation will ask a Galveston, Texas judge to set aside a $1.8 million judgment entered last week in a case involving a $31,000 home-improvement loan that had fallen into delinquency. (Mon, 13 Feb 2006 20:07:16 GMT)

Kitco - Exclusive Commentaries
Last week, in what amounted to the biggest refinancing in world history, the Federal Government finally resumed issuing thirty-year bonds. The return of the long bond comes none too soon, but it may be a day late and a couple of trillion dollars short. (Mon, 13 Feb 2006 20:41:59 GMT)

Weekly Home Loan Report: 15 - 22 February, 2005
The fixed interest rate loan competition continues unabated, despite one day of no changes during the last week. (Mon, 13 Feb 2006 21:50:38 GMT)

Lena's Food closes on $425,000 loan
The Northwest Side Community Development Corp. has closed a loan of $425,000 to Lena's Food Stores for working capitol and inventory, the agency said Monday. (Mon, 13 Feb 2006 23:06:54 GMT)

Global Signal Inc. Announces Pricing of $1.55 Billion Secured Debt Offering
Global Signal Inc. today announced the pricing of $1.55 billion of commercial mortgage pass-through certificates backed by three mortgage loans and issued by three of its indirect wholly owned subsidiaries, Global Signal Acquisitions LLC, Global Signal Acquisitions II LLC and Pinnacle Towers LLC. (Tue, 14 Feb 2006 00:28:00 GMT)

Impac Mortgage Holdings, Inc. Announces Upcoming Release of 2005 Earnings, Conference Call, and Posting of Its
Impac Mortgage Holdings, Inc. , or the "Company", a Maryland corporation being taxed as a real estate investment trust , announces the scheduling of a conference call and live web cast on Wednesday, February 22, 2006 at 9:00 a.m. P.T. . (Tue, 14 Feb 2006 00:45:00 GMT)

MFA Mortgage Investments, Inc. Postpones Fourth Quarter Earnings Release and Conference Call
MFA Mortgage Investments, Inc. today announced the postponement of its previously announced fourth quarter earnings release and related conference call, originally scheduled to occur on February 14, 2006. (Tue, 14 Feb 2006 02:57:00 GMT)

Global Signal Inc. Announces Pricing of $1.55 Billion Secured Debt Offering
Global Signal Inc. today announced the pricing of $1.55 billion of commercial mortgage pass-through certificates backed by three mortgage loans (the 'Mortgage Loans') and issued by three of its indirect wholly owned subsidiaries, Global Signal Acquisitions LLC, Global Signal Acquisitions II LLC and Pinnacle Towers LLC. The weighted average interest rate on the various classes of certificates is (Tue, 14 Feb 2006 04:49:56 GMT)

MAIL BAG: Subprime, predatory loans are different
Q: What is the difference between a subprime and a predatory home mortgage? As a real estate broker working in a low-income neighborhood that is rapidly improving, I often talk with homeowners who are thinking about obtaining refinanced mort- gages that have horrible terms. (Tue, 14 Feb 2006 05:11:25 GMT)

Global Signal Inc. Announces Pricing of $1.55 Billion Secured Debt Offering
Global Signal Inc. today announced the pricing of $1.55 billion of commercial mortgage pass-through certificates backed by three mortgage loans (the 'Mortgage Loans') and issued by three of its indirect wholly owned subsidiaries, Global Signal Acquisitions LLC, Global Signal Acquisitions II LLC and Pinnacle Towers LLC. The weighted average interest rate on the various classes of certificates is (Tue, 14 Feb 2006 05:20:17 GMT)

Study Plays Down Adjustable-Loan Risk
The potential loan losses from new types of adjustable-rate mortgages issued since 2004 is relatively small, according to a study to be released today. (Tue, 14 Feb 2006 08:02:46 GMT)

"Mortgage Arrangers" - The Ground Breaking Idea From the Financial Services Authority That Is Changing the Way we Get
A fresh new mortgage concept from the Financial Services Authority is proving very popular with both lenders and borrowers. It's been just over a year since the FSA unveiled their new ideas on mortgage regulation, and the revolutionary concept of Mortgage Arrangers is proving a run away success [PRWEB Feb 14, 2006] (Tue, 14 Feb 2006 08:06:47 GMT)

Verification Bureau Reveals Fraudster Trying to Cheat Nationwide Wholesale Lender with $200,000 Fraudulent Mortgage
Verification Bureau fraud detection solutions prevented funding of a $200,000 refinance, saving Metro America Mortgage and the wholesale investor all of the issues and costs that fraudulent mortgages create. [PRWEB Feb 14, 2006] (Tue, 14 Feb 2006 08:07:28 GMT)

Seniors’ Questions about Reverse Mortgages Answered by CEO of Nation’s Largest Reverse Mortgage Lender
Jim Mahoney, CEO of the nation’s largest reverse mortgage lender, Financial Freedom Senior Funding Corp., answers questions seniors have about reverse mortgages in an interview with NewRetirement.com. [PRWEB Feb 14, 2006] (Tue, 14 Feb 2006 08:09:08 GMT)

CHECKLIST: Mortgage decisions
If debt makes you anxious, you may be wondering: Should I try to pay off my mortgage -- or not? It depends -- on your financial circumstances, your time to retirement and your emotions. (Tue, 14 Feb 2006 08:11:35 GMT)

Global Signal Inc. Announces Pricing of $1.55 Billion Secured Debt Offering
Global Signal Inc. today announced the pricing of $1.55 billion of commercial mortgage pass-through certificates backed by three mortgage loans (the 'Mortgage Loans') and issued by three of its indirect wholly owned subsidiaries, Global Signal Acquisitions LLC, Global Signal Acquisitions II LLC and Pinnacle Towers LLC. The weighted average interest rate on the various classes of certificates is (Tue, 14 Feb 2006 09:06:47 GMT)

RHB Bank To Focus On Home Loan, Credit Card & Wealth Management
KUALA LUMPUR, Feb 14 (Bernama) -- RHB Bank Bhd will focus on its three main businesses of home loan, credit card and wealth management this year by enhancing its product ratio and improving customer relationship. (Tue, 14 Feb 2006 09:51:05 GMT)

Paying off a mortgage early
You probably should get together with a financial planner before you decide, says Dr. Don. (Tue, 14 Feb 2006 11:00:00 GMT)

Property Contains Breaks, Pitfalls
Tax time provides an opportunity to cash in many of the rewards of dabbling in last year's red-hot real estate market -- but there are numerous tax traps if you sold a home, refinanced your mortgage or bought an investment property in 2005. (Tue, 14 Feb 2006 11:24:57 GMT)

Verification Bureau Reveals Fraudster Trying to Cheat Nationwide Wholesale Lender with $200,000 Fraudulent Mortgage
(PRWEB) February 14, 2006 -- Metro America Mortgage, Inc, a mortgage lender offering loans to homebuyers in multiple states, reported that it used Verification Bureau’s 1003AppScan, and discovered a fraudulent $200,000 refinance loan that had been approved by the investor and was pending funding. (Tue, 14 Feb 2006 12:00:00 GMT)

Seniors’ Questions about Reverse Mortgages Answered by CEO of Nation’s Largest Reverse Mortgage Lender
San Francisco, CA (PRWEB) February 14, 2006 -- In an interview published today on NewRetirement. (Tue, 14 Feb 2006 12:00:00 GMT)

Malaysia sees robust export growth
FEB. 14 6:27 A.M. ET Malaysia's export growth slowed to 11 percent in 2005 but should be "robust" this year thanks to growing demand for electronics good and crude oil, the trade minister said Tuesday. (Tue, 14 Feb 2006 12:09:20 GMT)

Audi predicts sales growth in China
FEB. 14 5:57 A.M. ET Audi AG, the luxury car unit of Volkswagen AG, said Tuesday it expects a double-digit percentage sales increase in China through the rest of 2006. (Tue, 14 Feb 2006 12:09:30 GMT)

Michelin reports 36 percent profit surge
FEB. 14 6:30 A.M. ET France's Michelin, the world's leading tire maker, on Tuesday reported its net profit surged by 36 percent in 2005 despite sharply rising raw material costs and lower volume sales. (Tue, 14 Feb 2006 12:10:10 GMT)

Microsoft to request hearing in EU dispute
FEB. 14 6:22 A.M. ET Microsoft Corp. said Tuesday it will request a hearing to explain its case to European Union regulators ahead of an EU decision on whether to impose fines of up to euro2 million (US$2.38 million) a day on the software giant for failing to comply with an antitrust ruling. (Tue, 14 Feb 2006 12:10:20 GMT)

Paying off a mortgage early
Dear Dr. Don, My husband and I are both in our 40s, and are considering trying to pay off our mortgage over the next three years. We both work and have always had separate accounts. (Tue, 14 Feb 2006 12:42:41 GMT)

Be on the lookout for predatory lenders
Homeowners beware. These days, home-loan scam artists are lurking around every corner. They're hungry, they're determined and they're coming after your equity. (Tue, 14 Feb 2006 12:49:31 GMT)

Advectis Mortgage Broker Survey Yields Insight into Electronic Loan Submission
ATLANTA----Feb. 14, 2006--Advectis®, Inc., the provider of the most widely-used network for electronic mortgage document collaboration, announced the company's survey results regarding the benefits of paperless origination for mortgage brokers. (Tue, 14 Feb 2006 13:00:00 GMT)

More Than Four Out of Five Mortgage Lenders Will Increase Marketing Budgets in 2006
More than four out of five lenders plan to increase their online lead advertising budgets in 2006, according to a national survey of mortgage lenders conducted by TheLoanPage.com. (Tue, 14 Feb 2006 13:45:00 GMT)

Consumer Watch | Lenders' prey get some justice
Gary Goldsmith didn't know anything about Ameriquest Mortgage Co. when he got a phone call 51/2 years ago offering to refinance the mortgage on his Marlton home. (Tue, 14 Feb 2006 14:26:19 GMT)

A former Waterfield employee took charge of his career before circumstances made it painfully necessary
Sale of Waterfield Mortgage Co. will cost about 650 local employees their jobs by the end of June. Matt Blundall won’t be among them, but easily could have been. (Tue, 14 Feb 2006 14:53:18 GMT)

Accredited 4Q Profit Rises 14 Percent
Accredited Home Lenders Holding Co. on Tuesday said loan growth helped its profit rise 14 percent in the fourth quarter. (Tue, 14 Feb 2006 15:14:43 GMT)

Accredited Posts 14 Percent Rise in Fourth-Quarter Profit on Loan Growth
SAN DIEGO (AP) - Accredited Home Lenders Holding Co. on Tuesday said loan growth helped its profit rise 14 percent in the fourth quarter. The mortgage company said earnings grew to $43.3 million, or $1.96 per share, from $38.1 million, or $1.76 per share, the year before. (Tue, 14 Feb 2006 15:35:45 GMT)

Scotiabank to buy Maple Financial's mortgage ops
TORONTO (Reuters) - Bank of Nova Scotia said on Tuesday it has agreed to buy the mortgage business of Maple Financial Group Inc. for C$233 million ($201 million), improving its position in Canada's overall mortgage market. (Tue, 14 Feb 2006 16:13:16 GMT)

MFA Mortgage Postpones Earnings Release
MFA Mortgage Investments Inc., a mortgage real estate investment trust, said Tuesday it is postponing its fourth-quarter earnings release and conference call as its independent auditors need more time to complete their review. (Tue, 14 Feb 2006 16:21:59 GMT)

Global Signal rearranges financing
Three of Global Signal Inc.'s subsidiaries have issued $1.55 billion of commercial mortgage pass-through certificates backed by three mortgage loans. The loans are for five years and the certificates will pay 5.7 percent interest, a release said. (Tue, 14 Feb 2006 16:22:30 GMT)

Scotiabank buys mortgage lender
Bank of Nova Scotia said Tuesday it will buy the mortgage business of Maple Financial Group Inc. for $233-million, catapulting the bank to the third-largest provider of Canadian mortgages. (Tue, 14 Feb 2006 16:28:06 GMT)

Scotiabank to buy Maple Financial's mortgage ops
TORONTO (Reuters) - Bank of Nova Scotia said on Tuesday it has agreed to buy the mortgage business of privately held Maple Financial Group Inc. for C$233 million ($201 million), improving its position in Canada's overall mortgage market. (Tue, 14 Feb 2006 16:43:28 GMT)

Scotiabank buys Maple Financial mortgage business, moves to No. 3 in market
TORONTO (CP) - Scotiabank has signed a $233-million deal to buy the mortgage business of Maple Financial Group Inc., which includes Maple Trust Co., making the Toronto-based big bank the No. 3 lender in Canada's overall mortgage market. (Tue, 14 Feb 2006 17:22:00 GMT)

Scotiabank buys mortgage business of Maple Financial
Scotiabank has bought the mortgage business of privately held Maple Financial Group – a $233-million deal that moves Scotiabank up one spot to become the third biggest provider of mortgages in Canada. (Tue, 14 Feb 2006 17:34:38 GMT)

Two charged in Miss. mortgage fraud scheme
HATTIESBURG, Miss. Two people are free on their own recognizance today after pleading NOT guilty to federal conspiracy charges related to a mortgage fraud scheme. (Tue, 14 Feb 2006 18:47:43 GMT)

Scotiabank buys mortgage lender
Bank of Nova Scotia today announced a definitive agreement to buy the mortgage business of Maple Financial Group Inc., which includes Maple Trust Co., a national leader in mortgage lending. (Tue, 14 Feb 2006 18:59:18 GMT)

Ifinix's Software Unit to Release First Version of the Mortgage Software
Ifinix Corp. (OTC: INXR) announced that its R&BComputer Systems subsidiary has completed the first version of a webapplication for The Mortgage Net Inc of Woodbury, N.Y. The new webapplication will allow consumers to apply for a mortgage online, monitorthe process and also allow employees to track and manage their clients. (Tue, 14 Feb 2006 19:50:06 GMT)

Scotiabank buys Maple Financial mortgage business in $233M deal
TORONTO (CP) - Scotiabank (TSX:BNS) is moving into the No. 3 spot in Canada's mortgage market after signing a $233-million deal to buy the mortgage business of Maple Financial Group Inc. (Tue, 14 Feb 2006 21:27:00 GMT)

Home Loan Interest Rate Changes
The National Bank today announced changes in its Home Loan Fixed interest rates. This change, which takes effect Wednesday, 15 February 2006, is as follows: (Tue, 14 Feb 2006 21:54:14 GMT)

Scotiabank ups mortgage business in C$233 mln deal
TORONTO (Reuters) - Bank of Nova Scotia said on Tuesday it has agreed to buy the mortgage business of privately held Maple Financial Group Inc. for C$233 million ($203 million), improving its position in Canada's overall mortgage market. (Tue, 14 Feb 2006 21:58:26 GMT)

LAS bond refinancing may save taxpayers up to $200,000
Taxpayers in the Ludington Area School District may get a break on their bills after Ludington Area Schools refinances a portion of construction bonds used to renovate the high school/junior high complex. (Tue, 14 Feb 2006 22:05:35 GMT)

Federal Home Loan Bank of Indianapolis Announces Form 10 Filing with the Securities and Exchange Commission
The Federal Home Loan Bank of Indianapolis announced today, February 14, 2006, its Form 10 filing, including its financial restatements, with the Securities and Exchange Commission . (Tue, 14 Feb 2006 23:24:18 GMT)

Report finds untapped mortgage demand
By Brian O’Mahony MORTGAGE lenders have plenty of scope to grow their lending significantly provided they target the untapped demand in the sector. (Wed, 15 Feb 2006 01:06:34 GMT)

Accredited brings home $155 million in 2005
Accredited Home Lenders Holding Co. (Nasdaq: LEND, News), a San Diego-based mortgage company specializing in non-prime residential mortgage loans, announced Tuesday record results for the quarter and year ended Dec. 31, 2005, citing a net income for the year of $155.4 million. (Wed, 15 Feb 2006 01:26:53 GMT)

Tax break on home loan insurance?
Our home loan expert tells you whether or not premium paid on a home loan insurance is eligible for deduction. (Wed, 15 Feb 2006 03:56:02 GMT)

Pulaski Bank Announces Additions to Mortgage Lending Team; Bolsters Strong Position
Pulaski Bank announced today that four new residential loan officers have joined the bank's St. Louis mortgage team. (Wed, 15 Feb 2006 04:07:59 GMT)

Time to refinance your ARM into a fixed-rate mortgage
NEW YORK -- Higher short-term interest rates mean payments on many adjustable-rate mortgages could  surge. And with the 30-year rate hovering around 6.3%, now is the time to exchange your ARM for a fixed-rate mortgage. (Wed, 15 Feb 2006 05:10:42 GMT)

Some mortgage companies sue over county lending law
Less than a month before the county’s predatory lending law is to take effect, a group of mortgage companies has sued the county, saying it overstepped its authority in setting lending laws. (Wed, 15 Feb 2006 05:47:36 GMT)

Phishing in IRS Waters
Beware: Scammers are posing as the taxman, sending out refund e-mails as a ploy to swipe your personal info (Wed, 15 Feb 2006 06:25:49 GMT)

Direct Mortgage acquired by Direct Capital
Direct Mortgage Services Inc., a Portsmouth, N.H.-based mortgage company that has an office in Naugatuck and was founded by a native of the borough, has been acquired by a Portsmouth neighbor. (Wed, 15 Feb 2006 10:04:05 GMT)

College Loan Crunch
Stafford loans and the PLUS program took hits. Are Perkins student loans next? (Wed, 15 Feb 2006 11:51:01 GMT)

Questions surround mortgage-industry bill ahead of Senate vote
The Ohio Senate likely will vote next week on a bill that would increase regulation of Ohio’s mortgage industry and give consumers additional protections against predatory lenders. (Wed, 15 Feb 2006 12:07:15 GMT)

(AFX UK Focus) 2006-02-15 12:16 GMT: Weekly mortgage applications down; rates flat to higher
WASHINGTON (AFX) -- The volume of mortgage applications fell 7.3% in the week ended Feb. 10 compared to the prior week, the latest data from the Mortgage Bankers Association show. (Wed, 15 Feb 2006 12:36:04 GMT)

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