Mortgage News Mar 2006

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The Euro Zone: Wage Spike Ahead?
Unemployment appears to have bottomed out in Europe, but wage increases could propel inflation, and France's new measure is causing trouble (Mon, 20 Mar 2006 04:26:33 GMT)

Vital Signs for the Week of Mar. 20
On tap: February figures for new and existing home sales, durable goods orders, index of leading indicators, and more (Mon, 20 Mar 2006 04:26:55 GMT)

Doha Bank launches home loan scheme for expats
Doha Bank launches home loan scheme for expats (Mon, 20 Mar 2006 05:13:19 GMT)

Bear Stearns, Lehman Mortgage Growth Crimped by Housing Market
March 20 (Bloomberg) -- The U.S. Federal Reserve's fight against inflation is taking a bite out of one of Wall Street's biggest money-makers: the $6.5 trillion market for packaging millions of home loans into tradable bonds. (Mon, 20 Mar 2006 05:33:34 GMT)

Mortgage manager's life is busy but happy
Rebecca Bass knows networking. (Mon, 20 Mar 2006 05:41:12 GMT)

40-year-loan program aids first-time home buyers
A California state agency that provides special loan programs for first-time home buyers this week announced it will offer a new 40-year mortgage with an interest rate lower than those most lenders offer. (Mon, 20 Mar 2006 06:45:14 GMT)

ADVANTAGES AND DISADVANTAGES
The primary advantages of getting a mortgage from family: The interest rate is often lower than for conventional loans. No points or loan fees are needed. (Mon, 20 Mar 2006 06:45:25 GMT)

Doha Bank launches ‘home loan’ facility
Business Reporter Doha Bank has launched a new “home loan” product that enables both nationals and expatriates to avail of the finance and repay it over a “longer tenor at competitive interest rates”. (Mon, 20 Mar 2006 07:23:49 GMT)

PEOPLE: Vassallo joins Oak Mortgage
Phil Vassallo has joined Oak Mortgage Co. in Marlton as marketing manager. Vassallo, of Mantua, brings 23 years' experience in the mortgage lending field. He will be responsible for increasing sales for reverse mortgages, commercial lending and second mortgages. (Mon, 20 Mar 2006 08:03:46 GMT)

(AFX UK Focus) 2006-03-20 09:45 GMT: UK Feb mortgage lending slows to 4.4 bln stg from 4.8 in Jan - BBA
LONDON (AFX) - Mortgage lending growth in the UK slowed slightly in February after a strong performance towards the end of 2005, figures from the British Bankers' Association showed. (Mon, 20 Mar 2006 10:10:18 GMT)

(AFX UK Focus) 2006-03-20 09:59 GMT: UK gross mortgage lending highest ever for any Feb but slows from Jan - CML
LONDON (AFX) - The UK property market was steady in February, with gross mortgage lending reaching its highest ever for the month, although it still represented a slowing down from the previous month, according to the latest data from the Council of Mortgage Lenders. (Mon, 20 Mar 2006 10:25:01 GMT)

ROMANIA: CEC Launches Mortgage Loan Repayable in 35yrs
The Savings and Loans House (CEC) is currently granting mortgage loans repayable in 35 years, with an interest rate of 9.56 percent per annum, CEC Chairman Eugen Radulescu was quoted by daily Evenimentul zilei, ACT Media news agency reports. (Mon, 20 Mar 2006 10:41:33 GMT)

February sees mortgage slowdown
Mortgage lending slowed in February, both the British Bankers' Association (BBA) and Council of Mortgage Lenders (CML) say. (Mon, 20 Mar 2006 10:41:52 GMT)

Mortgage Lending Sees A Dip
Mortgage lending eased during February as consumers paused for breath during what is traditionally the quietest month of the year for lending. (Mon, 20 Mar 2006 10:58:16 GMT)

Late mortgage payments climb in late 2005
Late mortgage payments rose to a 2 1/2 -year high in the final quarter of 2005 as Gulf Coast homeowners struggled with fallout from the hurricanes and lofty energy prices along with rising interest rates squeezed the budgets of others across the country. (Mon, 20 Mar 2006 11:17:35 GMT)

Mortgage lending hits February high
Money: The housing market continued its strong start to the year as mortgage lending in February reached record levels for the month. (Mon, 20 Mar 2006 11:26:02 GMT)

Mortgage lending growth eases -BBA
LONDON (Reuters) - Underlying mortgage lending growth continued to ease in February, moving further below its recent average, the British Bankers' Association said on Monday. (Mon, 20 Mar 2006 11:30:38 GMT)

Slowing home market to ripple through job market
As the housing market slows, there will likely be a lot of people bailing out of their real estate jobs and other professions related to housing - appraisers, mortgage brokers and home construction workers - and many not by choice. It could send shock waves through the job market and the economy. (Mon, 20 Mar 2006 11:38:56 GMT)

Mortgage lending hits February high
The housing market continued its strong start to the year as mortgage lending in February reached record levels for the month, figures showed today, although there are signs of a slowdown in activity. (Mon, 20 Mar 2006 11:44:04 GMT)

Loan shoppers can try a half-dozen options
You need money for home improvements, a car, an investment opportunity or to pay off those high-interest credit cards. You may be surprised at how many different ways there are to use your existing assets to get a good loan. (Mon, 20 Mar 2006 11:57:44 GMT)

Real estate jobs in a sad state?
With signs pointing towards a slowing housing market, some workers in the real estate industry are already thinking about jumping ship, according to a news report published Monday. (Mon, 20 Mar 2006 12:51:48 GMT)

Can you get a home mortgage after bankruptcy?
So you have had some bad times, ran up some debts and had to declare bankruptcy. Does that mean the dream of owning a home is in the very distant future, if at all? (Mon, 20 Mar 2006 15:03:16 GMT)

Did bonded bill of exchange order pay off home loan?
The McElroys fell behind on their home loan payments. Their lender, Chase Manhattan Mortgage Company, notified them they could reinstate their mortgage and avoid foreclosure by paying the $7,238.24 in missing payments and costs. (Mon, 20 Mar 2006 15:15:19 GMT)

Mortgage rates dip to 6.34%
WASHINGTON – Rates on 30-year mortgages, which had jumped to the highest level in 2 1/2 years, edged down slightly last week. (Mon, 20 Mar 2006 15:29:36 GMT)

Mortgage Calculator Tools
Choose from 19 different mortgage calculator tools below that best fits your personal financial situation. (Mon, 20 Mar 2006 16:12:37 GMT)

How Much Will My Mortgage Payment Be?
Use this Mortgage Payment Calculator to figure out your total monthly mortgage payment including principal interest, taxes, PMI and insurance. (Mon, 20 Mar 2006 16:12:56 GMT)

Mortgage Principal Calculator
Use this Mortgage Principal Calculator to figure out your total monthly mortgage payment including principal interest, principal and balance. (Mon, 20 Mar 2006 16:13:07 GMT)

Mortgage Length Calculator
Use this Mortgage Length Calculator to figure out your original and new payment and the length of the payment. (Mon, 20 Mar 2006 16:13:19 GMT)

Canadian Mortgage Calculator
Use this Canadian Mortgage Payment Calculator to figure out your total monthly mortgage payment including principal interest, taxes, PMI and insurance. (Mon, 20 Mar 2006 16:14:59 GMT)

Alleged head of mortgage scam jailed
Richard Lucas, the alleged ringleader in a mortgage fraud case, was jailed Friday afternoon on a federal court order. Lucas, 31, was booked into Forrest County Jail about 1:10 p.m. Friday and remained there today. (Mon, 20 Mar 2006 16:34:57 GMT)

Loan shoppers can try a half-dozen options
You need money for home improvements, a car, an investment opportunity or to pay off those high-interest credit cards. You may be surprised at how many different ways there are to use your existing assets to get a good loan. (Mon, 20 Mar 2006 17:11:22 GMT)

40-year-loan program aids first-time home buyers
A California state agency that provides special loan programs for first-time home buyers this week announced it will offer a new 40-year mortgage with an interest rate lower than those most lenders offer. (Mon, 20 Mar 2006 18:39:34 GMT)

ADVANTAGES AND DISADVANTAGES
The primary advantages of getting a mortgage from family: The interest rate is often lower than for conventional loans. No points or loan fees are needed. (Mon, 20 Mar 2006 18:39:44 GMT)

Ripple effect expected from slowing home market
As the housing market slows, there will likely be a lot of stories of people who are bailing out of their real estate jobs and other professions related to housing - appraisers, mortgage brokers and home construction workers - and many not by choice. This could send shock waves through the job market and the economy. (Mon, 20 Mar 2006 19:59:15 GMT)

Consumer loan growth loses pace
MUMBAI: The pace of loan disbursements in the consumer finance market has slowed down owing to rising borrowing costs and a tight liquidity situation in recent weeks. (Mon, 20 Mar 2006 20:15:15 GMT)

UCPB launches home loan with fixed monthly amortization
UNITED Coconut Planters Bank (UCBP) has launched an industry first: real estate loans with fixed monthly amortization payments. (Mon, 20 Mar 2006 20:58:23 GMT)

MortgageBrokers.com Enters the $3.8 Trillion United States Mortgage Market -- Executes LOI to Acquire NJ-Based Mortgage
MortgageBrokers.com Inc., a subsidiary of MortgageBrokers.com Holdings Inc., announced today that it has a signed a Letter of Intent to acquire a privately held New Jersey-based mortgage broker and banker with licenses in seven states in the USA. (Mon, 20 Mar 2006 21:02:00 GMT)

Ripple effect expected from slowing home market
As the housing market slows, there will likely be a lot of stories of people who are bailing out of their real estate jobs and other professions related to housing - appraisers, mortgage brokers and home construction workers - and many not by choice. This could send shock waves through the job market and the economy. (Mon, 20 Mar 2006 22:07:50 GMT)

Fitch Upgrades 3, Affirms 1 Class from Lehman Home Equity Loan Trust
NEW YORK----March 20, 2006--Fitch has affirmed the following Lehman Home Equity Loan Trust, mortgage pass-through certificates: (Mon, 20 Mar 2006 22:14:00 GMT)

GuocoLand seeks US$300mil loan
SINGAPORE: GuocoLand Ltd, a Singapore property developer controlled by Tan Sri Quek Leng Chan, is seeking a US$300mil loan for its first syndicated loan in the last five years, a banker involved in the deal said. (Mon, 20 Mar 2006 23:53:11 GMT)

Mortgage lending hits a record for February
MORTGAGE lending last month hit a record for February - traditionally the quietest period for the housing market. (Tue, 21 Mar 2006 00:32:09 GMT)

Briefs: Late mortgage payments climb in late 2005
Late mortgage payments rose to a 2 1/2 -year high in the final quarter of 2005 as Gulf Coast homeowners struggled with fallout from the hurricanes and lofty energy prices along with rising interest rates squeezed the budgets of others across the country. (Tue, 21 Mar 2006 00:40:17 GMT)

Sierra Pacific Power Company Prices Private Offering of General and Refunding Mortgage Notes to Refinance Higher Coupon
Sierra Pacific Power Company, a wholly-owned subsidiary of Sierra Pacific Resources , announced today that it priced a private offering of $300 million principal amount of its 6.00% General and Refunding Mortgage Notes, Series M, due 2016. (Tue, 21 Mar 2006 01:35:00 GMT)

UK mortgage lending dips slightly in February, market still strong - CML
Gross mortgage lending totaled GBP21.8 billion in February according to the latest data from the Council of Mortgage Lenders (CML). This figure, a record for February 2006, was down by 5% on Januarys GBP23 billion of lending, but is 22% higher than the GBP17.9 billion lent in February 2005. (Tue, 21 Mar 2006 01:59:11 GMT)

MortgageBrokers.com Enters the $3.8 Trillion United States Mortgage Market -- Executes LOI to Acquire NJ-Based Mortgage
MortgageBrokers.com Inc., asubsidiary of MortgageBrokers.com Holdings Inc. (OTC BB: MBKR), announcedtoday that it has a signed a Letter of Intent (LOI) to acquire a privatelyheld New Jersey-based mortgage broker and banker with licenses in sevenstates in the USA. (Tue, 21 Mar 2006 02:14:20 GMT)

Deducting Costs Of Refinancing Your Home
Taxpayers who refinanced their homes may be eligible to deduct some costs associated with their loans. The term "points" is used to describe certain charges paid to obtain a home mortgage. (Tue, 21 Mar 2006 04:42:00 GMT)

County refinances open-space bonds
Middlesex County is refinancing $39 million worth of taxpayer-guaranteed bonds that paid for the purchase of open space during the past decade. The refinancing is expected to give the county a net savings of $680,000 over the next 20 years, officials said. (Tue, 21 Mar 2006 06:13:52 GMT)

Mortgage Broker Taps Zunch for SEO Work
SkyBlue Residential Lending, a residential mortgage broker, has enlisted Zunch Communications, Dallas, to help it improve its online presence using search engine optimization. (Tue, 21 Mar 2006 06:27:41 GMT)

The Struggle to Stop Mortgage Servicing Abuse and Foreclosure Scams resurfaces in Texas Lawsuit
Dallas resident faces EMC Mortgage Co. Wednesday at start of jury trial over possession of dream home and hundreds of thousands in phantom rent and legal fees that exceed the $86,000 mortgage value of the home. [PRWEB Mar 21, 2006] Trackback URL: http://www.prweb.com/chachingpr.php/VGhpci1NYWduLVNpbmctVGhpci1IYWxmLVplcm8= (Tue, 21 Mar 2006 08:13:27 GMT)

40-year-loan program aids first-time home buyers
A California state agency that provides special loan programs for first-time home buyers this week announced it will offer a new 40-year mortgage with an interest rate lower than those most lenders offer. (Tue, 21 Mar 2006 08:53:50 GMT)

ADVANTAGES AND DISADVANTAGES
The primary advantages of getting a mortgage from family: The interest rate is often lower than for conventional loans. No points or loan fees are needed. (Tue, 21 Mar 2006 08:54:40 GMT)

IRS Tax Tip: Educting Costs of Refinancing Your Home
Taxpayers who refinanced their homes may be eligible to deduct some costs associated with their loans. (Tue, 21 Mar 2006 09:55:17 GMT)

Dickerson joins Bank of America Mortgage
Bank of America Mortgage has added Corey Dickerson to its mortgage lending team. Previously with Wells Fargo Bank, Dickerson has had five years of banking and mortgage lending experience. (Tue, 21 Mar 2006 10:06:44 GMT)

Start home mortgage application now for pre-approval
The recent rise in mortgage interest rates should encourage home buyers to get the mortgage application started now. There are some fairly simple steps you can take towards expediting the mortgage approval process. (Tue, 21 Mar 2006 10:06:54 GMT)

HDFC hikes home loan rates by 1%
After ICICI bank, HDFC bank has also decided to hike the home loan rates by 50 bps by next week. However, HDFC Bank clarified that 1 per cent increase will not impact any demand for housing loans. (Tue, 21 Mar 2006 10:41:13 GMT)

Can I deduct the cost of refinancing my mortgage?
A: Closing costs such as appraisal fees aren't deductible. But "points" paid as part of refinancing can be deducted. For a refinanced mortgage, the interest deduction for points is determined by dividing the points paid by the number of payments to be made. (Tue, 21 Mar 2006 10:53:51 GMT)

The Struggle to Stop Mortgage Servicing Abuse and Foreclosure Scams resurfaces in Texas Lawsuit
Dallas, TX (PRWEB) March 21, 2006. Lawyers for Robert John “Jack” Wright are due to appear in a Dallas court Wednesday for the start of a jury trial in which Jack Wright is accused of reneging on a one-sided December 2004 settlement agreement in which EMC Mortgage Company (“EMC”) now alleges claims for possession of Wright’s home of over 19 years and hundreds of thousands in trumped up charges (Tue, 21 Mar 2006 12:00:00 GMT)

Man Admits Killing N.Va. Mother, Child
Dinh Pham waited until his former boss left for work, then broke into his townhouse to steal some money and his wife's car, Fairfax County's chief prosecutor told a judge yesterday. What he didn't realize that January day was that the wife, Loan P. Nguyen, was home, taking a shower, and he quickly... (Tue, 21 Mar 2006 12:09:28 GMT)

MortgageBrokers.com Enters the $3.8 Trillion United States Mortgage Market -- Executes LOI to Acquire NJ-based Mortgage
MortgageBrokers.com Inc., a subsidiary of MortgageBrokers.com Holdings Inc. , announced today that it has a signed a Letter of Intent to acquire a privately held New Jersey-based mortgage broker and banker with licenses in seven states in the USA. (Tue, 21 Mar 2006 13:02:00 GMT)

Quicken Loans, the Nation's Largest Online Home Mortgage Lender, Signs Premier Sponsorship Agreement With HomePages.com
Quicken Loans, the nation's largest online lender, announced today that it will partner with HouseValues Inc. to become the premier advertising sponsor and content provider on the HomePages.com Mortgage Center. Quicken Loans is the first major lender to advertise in HouseValues' consumer-facing Web portal in an effort to support its online lending business. Quicken Loans is already a client of (Tue, 21 Mar 2006 13:10:00 GMT)

Vitek acquires Young Mortgage
Vitek Mortgage Group, one of the capital region's largest locally owned mortgage companies, has acquired Young Mortgage Service Corp. of Davis, Vitek officials announced Monday. (Tue, 21 Mar 2006 13:24:10 GMT)

Hanover Capital Mortgage Holdings, Inc. Announces Adoption of Stock Buy-Back Plan
Hanover Capital Mortgage Holdings, Inc. has announced today that its Board of Directors has approved of the adoption of a stock buyback plan that will authorize the Company to buy back up to a maximum of 2 million shares of Company common stock. (Tue, 21 Mar 2006 13:31:00 GMT)

When to Shop for a Mortgage
It's good to shop for your mortgage before you even begin house hunting. You'll have a leg up, knowing exactly what you can afford, and you'll clearly strike sellers as a serious buyer. Don't let yourself feel intimidated by the process. Remember that lenders serve you, not the other way around. You'll be paying a lot in interest for many years, so you want to find a lender who'll serve you well (Tue, 21 Mar 2006 14:04:44 GMT)

When to Shop for a Mortgage
Don't plan to find your dream house first. Get that mortgage lined up instead. (Tue, 21 Mar 2006 14:04:44 GMT)

Mortgage Science Fiction
When most of us think of science fiction, we may imagine life on other planets or animals forming governments. When bankers engage the science fiction gears of their brains, though, they may be thinking of ... 50-year mortgages. (Tue, 21 Mar 2006 14:06:48 GMT)

Mortgage Science Fiction
Some mortgages are likely to outlive you. Think twice before signing up. (Tue, 21 Mar 2006 14:06:48 GMT)

State Senate approves loan
The Board of Education approved a tentative budget last night that is likely to increase property taxes by $993 for a home assessed at the township average. (Tue, 21 Mar 2006 15:10:22 GMT)

When to Shop for a Mortgage
It's good to shop for your mortgage before you even begin house hunting. You'll have a leg up, knowing exactly what you can afford, and you'll clearly strike sellers as a serious buyer. Don't let yourself feel intimidated by the process. (Tue, 21 Mar 2006 15:20:30 GMT)

Mortgage misery goes on with new Euribor rise
MADRID — Mortgage rates were set to go up again after the Euribor rose to 3.1 percent for the first time since November 2002. Euribor, which is the principle reference for mortgage rates in Spain, has continued its steady rise since the middle of last year. (Tue, 21 Mar 2006 15:35:33 GMT)

Experts in lending say Moldova needs new mortgage legislation
Bank and construction experts, representatives of the Ministry of Economy and Commerce discussed the current situation and prospects of developing the mortgage market of Moldova at a round table meeting on Monday. They stressed the necessity of adopting a new mortgage law that would allow attracting important investments on the real estate market and new technologies in building residence blocks. (Tue, 21 Mar 2006 16:10:27 GMT)

40-year-loan program aids first-time home buyers
A California state agency that provides special loan programs for first-time home buyers this week announced it will offer a new 40-year mortgage with an interest rate lower than those most lenders offer. (Tue, 21 Mar 2006 16:53:50 GMT)

ADVANTAGES AND DISADVANTAGES
The primary advantages of getting a mortgage from family: The interest rate is often lower than for conventional loans. No points or loan fees are needed. (Tue, 21 Mar 2006 16:54:40 GMT)

SBA Disaster Loan Approvals Surpass $4.1 Billion in Louisiana
The U.S. Small Business Administration today announced that disaster loan approvals have surpassed $4.1 billion in Louisiana and have topped $6.5 billion in affected areas throughout the Gulf region, a record for the agency. (Tue, 21 Mar 2006 16:55:00 GMT)

MortgageBrokers.com Enters the $3.8 Trillion United States Mortgage Market -- Executes LOI to Acquire NJ-based Mortgage
MortgageBrokers.com Inc., a subsidiary of MortgageBrokers.com Holdings Inc. (BULLETIN BOARD: MBKR) , announced today that it has a signed a Letter of Intent (LOI) to acquire a privately held New Jersey-based mortgage broker and banker with licenses in seven states in the USA. (Tue, 21 Mar 2006 17:03:17 GMT)

HDFC to hike home loan rates
Close on the heels of ICICI Bank hiking its PLR for corporate loans by one per cent, HDFC is likely to increase its home loans for the second time in a row in just two months. (Tue, 21 Mar 2006 17:14:35 GMT)

Quicken Loans, the Nation's Largest Online Home Mortgage Lender, Signs Premier Sponsorship Agreement With HomePages.com
Quicken Loans, the nation's largest onlinelender, announced today that it will partner with HouseValues Inc. (NASDAQ: SOLD) to become the premier advertising sponsor and content provider on theHomePages.com Mortgage Center. Quicken Loans is the first major lender toadvertise in HouseValues' consumer-facing Web portal in an effort tosupport its online lending business. Quicken Loans is already a (Tue, 21 Mar 2006 17:25:51 GMT)

Mortgage firm grows with merger
Vitek Mortgage Group bought Young Mortgage Service Corp. in a deal that closed March 15. The companies announced the merger Monday, but they didn't release terms of the deal. (Tue, 21 Mar 2006 18:33:41 GMT)

Monterey County D.A., others settle with Ameriquest
Monterey County will receive $425,000 from a settlement resolving a multi-year investigation into predatory lending practices of Ameriquest Mortgage Co., the Monterey County District Attorney’s Office said this morning. (Tue, 21 Mar 2006 19:23:36 GMT)

Kolehmainen one-stop expansion
The three Western Upper Peninsula offices of Kolehmainen Insurance & Real Estate will now offer mortgage services as part of its one-stop expansion, Phil Kolehmainen Sr. announced recently. (Tue, 21 Mar 2006 19:27:41 GMT)

Federal Home Loan Bank of Boston Announces 2005 Operating Highlights, Q1 2006 Dividend
The Federal Home Loan Bank of Boston announced the following: (Tue, 21 Mar 2006 21:03:00 GMT)

Kiwibank to buy 51pc of NZ Home Loan
State-owned Kiwibank is about to take a bigger bite of the country's home loan market with the purchase of a majority stake in the country's biggest non-bank home loan lender. (Tue, 21 Mar 2006 23:47:38 GMT)

Kiwibank expands in home loan market
State-owned Kiwibank is buying into another home mortgage lender. It is purchasing 51 percent of the New Zealand Home Loan Company. The purchase of the shares will be completed in June this year when the price is determined. It is expected to be about $8 million. (Wed, 22 Mar 2006 00:03:59 GMT)

Metrocities Mortgage and Keller Williams Realty Form Joint Venture
RISMEDIA, March 22, 2006—Metrocities Mortgage, LLC, a leader in the residential mortgage lending market, and Keller Williams® Realty, have announced the formation of Western Security Mortgage, a joint venture mortgage company that will serve the finance needs of home purchasers in Contra Costa, Alameda, Solano and their neighboring counties. (Wed, 22 Mar 2006 00:45:46 GMT)

Kiwibank To Buy Half Share In Home Loan Company
Kiwibank today announced it has reached agreement to purchase a 51 per cent share holding in the New Zealand Home Loan Company Limited (NZHL). Kiwibank Chief Executive Sam Knowles said purchase of the shares will be completed in June this year when the price will be determined. (Wed, 22 Mar 2006 01:06:38 GMT)

Women in court on mortgage fraud charges
Two Auckland women will appear in court next week charged with mortgage fraud. One of the women, a customer services representative from Glenfield, will appear in the Auckland District Court next Tuesday facing nine charges. (Wed, 22 Mar 2006 05:33:48 GMT)

Can a Mortgage Actually Save Your Life?
South Florida Mortgage Broker educates the public about proper uses of their homes' equity [PRWEB Mar 22, 2006] Trackback URI: http://www.prweb.com/dingpr.php/SW5zZS1aZXRhLUhhbGYtVGhpci1IYWxmLVplcm8= (Wed, 22 Mar 2006 08:21:10 GMT)

Judge sets '07 trial date in home fraud case
A federal lawsuit alleging a conspiracy between a Poconos developer and one of the nation's largest mortgage companies to defraud more than 100 home buyers is scheduled for trial next year. (Wed, 22 Mar 2006 09:14:03 GMT)

Nixon Files Settlement with Mortgage Lender Ameriquest
Missourians to receive $3.2 million in restitution (Wed, 22 Mar 2006 10:55:27 GMT)

Mortgage company settles lawsuit
Ameriquest, a national mortgage company, has agreed to a $325 million settlement to end a joint multi-year investigation into predatory lending. (Wed, 22 Mar 2006 11:17:49 GMT)

Mortgage company agrees to change lending practices
Ameriquest Mortgage Co., the nation's largest provider of high-interest rate loans to home buyers, has agreed to a judgment that will require it to clearly disclose loan terms and fees, not tamper with appraisals and set aside $26.6 million to pay restitution to California customers. (Wed, 22 Mar 2006 11:18:37 GMT)

Refinancing with a prepayment penalty
Dear Dr. Don, I refinanced my home in November of 2005. I got a variable rate loan tied to an index (LIBOR). It's a 30-year mortgage with a two-year balloon. I've since discovered that the mortgage has a prepayment clause that penalizes me if I refinance the loan before the balloon date. (Wed, 22 Mar 2006 12:17:34 GMT)

(AFX UK Focus) 2006-03-22 12:16 GMT: Weekly mortgage applications lower across the board
WASHINGTON (AFX) -- The volume of mortgage applications dropped 1.6% in the week ended March 17 compared to the prior week, according to data compiled by the Mortgage Bankers Association. (Wed, 22 Mar 2006 12:40:03 GMT)

Mortgage demand at year's low
Mortgage Banker's Assoc. says applications last week were the lowest of 2006 despite fall in rates. (Wed, 22 Mar 2006 12:45:32 GMT)

U.S. MBA's Mortgage Applications Fell 1.6% Last Week (Update1)
March 22 (Bloomberg) -- A gauge of U.S. mortgage applications fell last week to the lowest level of the year as home purchases and refinancing declined, a sign housing will be less of a source of strength for the economy. (Wed, 22 Mar 2006 13:03:24 GMT)

Bayview Financial(R) Introduces Warehouse Lending Alternative for Mortgage Lenders
MIAMI----March 22, 2006--Bayview Financial®, a $9 billion real estate lending and investment finance company based in Miami, Fla., announced today the availability of its Warehouse PLUS Line, a long-term funding program for mortgage loan portfolios and an alternative to traditional warehouse lines. (Wed, 22 Mar 2006 13:30:00 GMT)

The Shocking Cost Of Mortgage Cover!
Don't pay your mortgage lender a fortune for accident, sickness and unemployment insurance, because you could save over £200 a year with these Best Buys! (Wed, 22 Mar 2006 13:36:42 GMT)

Mortgage company agrees to change lending practices
Ameriquest Mortgage Co., the nation's largest provider of high-interest rate loans to home buyers, has agreed to a judgment that will require it to clearly disclose loan terms and fees, not tamper with appraisals and set aside $26.6 million to pay restitution to California customers. (Wed, 22 Mar 2006 13:42:46 GMT)

Lifelink Mortgage Services joins Exweb Broker portal
Lifelink Mortgage Services has selected The Exchange's Exweb Broker portal to support their directly authorised mortgage intermediary offering. (Wed, 22 Mar 2006 13:53:25 GMT)

Act now to keep your student-loan interest rate low
Interest rates on student loans are expected to rise this summer, but students and graduates can act now to keep their rates low. By consolidating their student loans -- which is similar to refinancing a home mortgage -- students can lock in rates as low as 4.75 percent. (Wed, 22 Mar 2006 14:23:04 GMT)

Weekly mortgage applications lower across the board
Weekly mortgage applications lower across the board (Wed, 22 Mar 2006 15:42:01 GMT)

Mortgage company agrees to change lending practices
Ameriquest Mortgage Co., the nation's largest provider of high-interest rate loans to home buyers, has agreed to a judgment that will require it to clearly disclose loan terms and fees, not tamper with appraisals and set aside $26.6 million to pay restitution to California customers. (Wed, 22 Mar 2006 15:56:26 GMT)

BMC provides mortgage financing
SARDIS — BMC Capital has provided $1.04 million in mortgage financing for the purchase of the 5,400-square-foot retail property with Chevron and McDonald's as its tenants. The property is located at 605 East Lee Street in Sardis. (Wed, 22 Mar 2006 16:35:52 GMT)

US home loan demand falls to lowest level this year
NEW YORK (Reuters) - U.S. consumer demand for home mortgage loan applications fell last week to the lowest level this year despite a marked drop in interest rates, as industry trade group said on Wednesday. (Wed, 22 Mar 2006 19:02:29 GMT)

US home loan demand falls to lowest level this year
Consumer demand for home mortgage loan applications fell last week to the lowest level this year despite a marked drop in interest rates, as industry trade group said on Wednesday. (Wed, 22 Mar 2006 19:09:50 GMT)

DeepGreen Financial Continues Push Into Wholesale Home Equity Market
DeepGreen Financial, known for providing quality service to its home equity loan and line of credit borrowers, announced the addition of four account executives to its national wholesale home equity sales staff. Joining the company are Jim Dell'Anno, Steven Baril, Peter Varela and Tom Fileccia. (Wed, 22 Mar 2006 19:27:18 GMT)

Mortgage Loan Demand Hit Lowest Level This Year
U.S. consumer mortgage loan demand fell to the lowest level this year. (Wed, 22 Mar 2006 19:27:44 GMT)

Weekly Home Mortgage Rates
Weekly Home Mortgage Rates (Wed, 22 Mar 2006 20:26:40 GMT)

Demand for home loans falls
U.S. mortgage applications fell last week to the lowest level of the year as home purchases and refinancing declined, a sign housing will be less of a source of strength for the economy. (Wed, 22 Mar 2006 22:14:08 GMT)

I-Team 10 follow up: 4th man charged in mortgage fraud scheme
A fourth man has pleaded guilty in a mortgage fraud scheme. Authorities say the ringleader of the conspiracy, Theodore Antonucci Junior, has admitted cheating banks out of more than a million dollars. (Wed, 22 Mar 2006 22:55:44 GMT)

Mortgage company agrees to change lending practices
Ameriquest Mortgage Co., the nation's largest provider of high-interest rate loans to home buyers, has agreed to a judgment that will require it to clearly disclose loan terms and fees, not tamper with appraisals and set aside $26.6 million to pay restitution to California customers. (Thu, 23 Mar 2006 00:26:20 GMT)

FBI warns Pee Dee Realtors of mortgage fraud cases
FLORENCE - The FBI is warning Pee Dee Realtors and consumers to be wary of mortgage fraud. South Carolina has the second highest incidence of mortgage fraud in the nation, according to FBI Special Agent in Charge Brian Lamkin. (Thu, 23 Mar 2006 03:36:07 GMT)

Mortgage company settles lawsuit
Ameriquest, a national mortgage company, has agreed to a $325 million settlement to end a joint multi-year investigation into predatory lending. (Thu, 23 Mar 2006 03:46:43 GMT)

Mortgage applications fall to lowest level in year
U.S. mortgage applications fell last week to the lowest level of the year as home purchases and refinancing declined, a sign that housing will be less of a source of strength for the economy. (Thu, 23 Mar 2006 05:30:51 GMT)

David Hendricks: Reverse mortgage option finally reaches Texans
Reverse mortgage lines of credit are hitting the streets this week in Texas. (Thu, 23 Mar 2006 06:25:29 GMT)

Return to Publication
The Lowest Mortgage Rates! !! Buy or Refinance with the nation's #1 Mortgage Bank! Get Instant approval! Bad credit - No problem! New Fixed Home Equity lines now available! (Thu, 23 Mar 2006 07:50:50 GMT)

TAX COUNTDOWN: Refinancing fees may be deductible
Twenty-five days left to file until April 17. Taxpayers who refinanced their homes may be eligible to deduct some costs associated with their loans. The term "points" is used to describe certain charges paid to obtain a home mortgage. (Thu, 23 Mar 2006 08:06:22 GMT)

U.S. Mortgage Applications Fall by 1.6%
Mortgage applications in America fell last week to the lowest level of the year as home purchases and refinancing declined, a sign housing will be less of a source of strength for the economy. The Mortgage Bankers Association's weekly application index dropped 1.6% to 565.0 from 574.4.The Washington-based group's purchase gauge fell 2.3% to 393.6. A rise in mortgage rates this year is limiting (Thu, 23 Mar 2006 08:11:55 GMT)

Statewide Bancorp Now Offers 50-year Term Home Loans
Statewide Bancorp, Inc. today announced the much-anticipated release of the 50-year loan. This new loan allows consumers to qualify for more home and borrow over a longer period of time to keep payments manageable. [PRWEB Mar 23, 2006] Trackback URI: http://www.prweb.com/dingpr.php/Q3Jhcy1TdW1tLUhhbGYtVGhpci1IYWxmLVplcm8= (Thu, 23 Mar 2006 08:13:48 GMT)

GuideToLenders.com Poll Predicts Mortgage Rate Rises in 2006
When asked, "How high do you think mortgage interest rates will climb in 2006?” nearly two thirds of respondents predicted rates to end up between 6% and 7%. This was one of the findings in a survey commissioned by GuideToLenders.com, and it is consistent with the Mortgage Bankers Association's (MBA) forecast for the year. MBA predicts interest rates on a 30-year fixed rate mortgage to be 6.5% (Thu, 23 Mar 2006 08:23:26 GMT)

Demand for Mortgage Applications Declines
U.S. consumer demand for home mortgage loan applications fell last week to the lowest level this year despite a marked drop in interest rates, an industry trade group said. (Thu, 23 Mar 2006 08:36:12 GMT)

Capita boss quits over Blair loan
Chairman of the Capita group quits over "spurious" claims his £1m Labour loan resulted in the firm getting contracts. (Thu, 23 Mar 2006 08:52:32 GMT)

Aegon to set up mortgage unit in Hungary
Aegon NV, the second-largest Dutch insurer, will set up a mortgage banking unit in Hungary, daily Népszabadság reported. (Thu, 23 Mar 2006 09:49:11 GMT)

HK Mortgage Corp launches composite interest rate note
HONG KONG, March 23 (Reuters) - The Hong Kong Mortgage Corporation Ltd. said on Thursday it had issued a HK$100 million, two-year note with a coupon rate based for the first time on composite interest rates. (Thu, 23 Mar 2006 11:12:07 GMT)

GuideToLenders.com Poll Predicts Mortgage Rate Rises in 2006
(PRWEB) March 23, 2006 -- When asked, "How high do you think mortgage interest rates will climb in 2006? (Thu, 23 Mar 2006 12:00:00 GMT)

Bankrate: Mortgage Rates Dip on Fed Hopes
Fixed mortgage rates dipped for the second week in a row, after hitting the highest point since Sept. 2003. The average 30-year fixed rate mortgage is now 6.39 percent, according to Bankrate.com's weekly national survey of large lenders. (Thu, 23 Mar 2006 12:30:00 GMT)

Cervus Announces Expansion of National Broker Network with the Addition of Mortgage Brokerage House Mortgage
TORONTO----March 23, 2006--Cervus Financial Group Inc. ,, announced today that it has signed on national mortgage brokerage house Mortgage Intelligence. Mortgage Intelligence complements Cervus' national business plan and provides the company with an additional national broker channel for its High Ratio and Conventional mortgage products. (Thu, 23 Mar 2006 13:30:00 GMT)

Cervus Announces Expansion of National Broker Network with the Addition of Mortgage Brokerage House Mortgage
TORONTO, ONTARIO-- - Cervus Financial Group Inc. ,, announced today that it has signed on national mortgage brokerage house Mortgage Intelligence. Mortgage Intelligence complements Cervus' national business plan and provides the company with an additional national broker channel for its High Ratio and Conventional mortgage products. (Thu, 23 Mar 2006 13:30:09 GMT)

KKR, Five Mile, Goldman to Pay $8.8 Bln for GM Mortgage Stake
March 23 (Bloomberg) -- Kohlberg Kravis Roberts & Co., the world's biggest buyout firm, and its investing partners will pay $8.8 billion for a 78 percent stake in General Motors Corp.'s commercial mortgage unit. (Thu, 23 Mar 2006 14:43:34 GMT)

Argyle complete Clarke loan swoop
Wolves striker Leon Clarke joins Plymouth on loan for the rest of the season. (Thu, 23 Mar 2006 15:53:49 GMT)

GM Selling Control Of Mortgage Unit
General Motors is making news for the second time in two days. The giant automaker says it's selling a majority interest in its commercial mortgage division to a private investment group for $1.5 billion in cash. (Thu, 23 Mar 2006 16:05:21 GMT)

GMAC nets $9B for mortgage unit
General Motors completed the sale of a majority stake in the commercial mortgage division of its GMAC finance unit Thursday, receiving $9 billion in cash from the transaction. (Thu, 23 Mar 2006 16:15:42 GMT)

GMAC Nets $8.8 Billion Selling Stake in Mortgage Unit (Update2)
March 23 (Bloomberg) -- General Motors Corp.'s finance unit netted $8.8 billion in cash by selling a bigger stake in a commercial-mortgage unit than originally planned to Kohlberg Kravis Roberts & Co. and its investing partners. (Thu, 23 Mar 2006 16:18:24 GMT)

Long-term mortgage rates edge lower
Long-term mortgage rates fell this week, with the 30-year rate slipping, but the one- and five-year rates posted slight gains, Freddie Mac said Thursday. (Thu, 23 Mar 2006 16:30:32 GMT)

G.M. sells 78% of GMAC mortgage unit for $1.5 billion
General Motors Corp. said Thursday that it is raising nearly $9 billion in cash by selling a majority interest in its commercial mortgage division and sprucing up the finances of the auto loan and insurance business the struggling automaker is still trying to sell. (Thu, 23 Mar 2006 16:56:12 GMT)

30-Year Mortgage Rates Fall a Second Week
WASHINGTON - Rates on 30-year mortgages, which had jumped to the highest level in 2 1/2 years, edged down for a second straight week. Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.32 percent this week, down from 6.34 percent the previous week. (Thu, 23 Mar 2006 17:51:54 GMT)

30-Year Mortgage Rates Fall a Second Week
WASHINGTON (AP) - Rates on 30-year mortgages, which had jumped to the highest level in 2{ years, edged down for a second straight week. Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.32 percent this week, down from 6.34 percent the previous week. The latest decline was the second in a row after 30-year rates had reached a high of 6.37 percent (Thu, 23 Mar 2006 18:08:12 GMT)

30-Year Mortgage Rates Fall a Second Week
Rates on 30-year mortgages, which had jumped to the highest level in 2 1/2 years, edged down for a second straight week. Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.32 percent this week, down from... (Thu, 23 Mar 2006 18:21:25 GMT)

GMAC Gets $1.5B for Stake in Mortgage Unit
General Motors Corp., struggling to restore its financial vigor, said Thursday its finance arm sold a majority stake in its commercial mortgage division, raising nearly $9 billion in cash that could make the rest of its finance business more attractive to potential bidders. (Thu, 23 Mar 2006 20:00:21 GMT)

GMAC Nets $8.8 Billion Selling Stake in Mortgage Unit (Update4)
March 23 (Bloomberg) -- General Motors Corp. raised $8.8 billion for its finance company by selling a larger-than- expected stake in its commercial mortgage unit to a group led by Kohlberg Kravis Roberts & Co. (Thu, 23 Mar 2006 20:03:24 GMT)

GMAC Gets $1.5B for Stake in Mortgage Unit
General Motors Corp., struggling to restore its financial vigor, said Thursday its finance arm sold a majority stake in its commercial mortgage division, raising nearly $9 billion in cash that could make the rest of its finance business more attractive to potential bidders. (Thu, 23 Mar 2006 20:13:08 GMT)

GMAC Gets $1.5B for Stake in Mortgage Unit
GM Finance Unit to Raise $9B on Sale of Majority Interest in Mortgage Division to Investment Group (Thu, 23 Mar 2006 20:25:22 GMT)

Federal Home Loan Bank of Boston Announces Board Changes
The Federal Home Loan Bank of Boston announced that Charles F. Frosch will resign his position as director of the Bank effective April 1, 2006. Mr. Frosch has served as a director of the Bank since January 1, 1998. (Thu, 23 Mar 2006 22:08:00 GMT)

GMAC Nets $8.8 Billion Selling Stake in Mortgage Unit (Update5)
March 23 (Bloomberg) -- General Motors Corp. raised $8.8 billion for its finance company by selling a larger-than- expected stake in its commercial mortgage unit to a group led by Kohlberg Kravis Roberts & Co. (Thu, 23 Mar 2006 22:48:41 GMT)

Mortgage Rates Dip on Fed Hopes
RISMEDIA, March 24, 2006—Fixed mortgage rates dipped for the second week in a row, after hitting the highest point since September 2003. (Fri, 24 Mar 2006 01:14:46 GMT)

Mortgage frenzy is easing, group told
Waukesha - The bill is coming due for America's fat and happy days of mortgage-making and mortgage-getting,... (Fri, 24 Mar 2006 03:09:29 GMT)

GM sells the majority interest in mortgage group in $9 bil deal
DETROIT - A day after offering buyouts worth thousands of dollars to its union workers, General Motors Corp., struggling with big losses, slow sales and high labor costs, said Thursday that it sold a majority interest in its commercial mortgage division in a deal worth $9 billion that gives its finance arm a boost as it prepares for its own sale. (Fri, 24 Mar 2006 04:46:04 GMT)

Family finances: New rule gives you a way to obtain credit score
Good news if you ever want a mortgage or to refinance. Your credit score, the controversial statistic that lenders use to judge your credit risk, must be disclosed if you're borrowing to purchase or refinance a one-to-four family home. There are some exceptions to this rule. (Fri, 24 Mar 2006 05:28:04 GMT)

Sellers charged in home inquiry
An investigation by the S.C. Manufactured Housing Board's staff has led to charges that three Grand Strand home sellers violated state laws by including fraudulent information on loan applications to help buyers get mortgages for which they otherwise might not have qualified. (Fri, 24 Mar 2006 08:07:18 GMT)

GM sells part of mortgage division
DETROIT — General Motors Corp. said Thursday that it sold a majority interest in its commercial mortgage division in a deal worth $9 billion. (Fri, 24 Mar 2006 08:13:03 GMT)

Mortgage applications drop 1.6%
U.S. mortgage applications fell last week to the lowest level of the year as home purchases and refinancing declined, a sign housing will be less of a source of strength for the economy. (Fri, 24 Mar 2006 09:27:24 GMT)

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