Mortgage News Jun 2006

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RBI to cap banks' home loan exposure
The frenzied pace of growth in home loans disbursed by commercial banks may slow down with the Reserve Bank of India classifying banks' lending in this sector as an exposure to the real estate sector. (Tue, 27 Jun 2006 05:38:41 GMT)

Lender plans larger offices
One of the nation's largest wholesale mortgage lenders plans to build a 26,000-square-foot office building in Rancho Cucamonga and double its current work force of 75. (Tue, 27 Jun 2006 06:35:42 GMT)

Mortgage Web Site Visitors: Understand Me for Who I Am
New Report Shows How Well Lender Sites Are Working to Meet the Unique Needs of Individual Consumers (PRWEB Jun 27, 2006) Trackback URI: http://www.prweb.com/zingpr.php/SGFsZi1TdW1tLUhvcnItQ291cC1JbnNlLVplcm8= (Tue, 27 Jun 2006 07:19:18 GMT)

Mortgage approvals jump
LONDON (Reuters) - The number of mortgage approvals for home purchases rose 20 percent on a year earlier in May after an Easter-related annual decline in the previous month, British Bankers' Association data showed on Tuesday. (Tue, 27 Jun 2006 08:42:57 GMT)

UK mortgage lending at 2 year high
Mortgage lending in the UK rose by its highest amount in two years, a leading industry body confirmed today. Gross mortgage lending for May, meanwhile, hit a record high of STG18.2bn, some 18pc above the much shorter working month of April and 27pc higher than May last year. (Tue, 27 Jun 2006 09:14:12 GMT)

(AFX UK Focus) 2006-06-27 09:45 GMT: UK May net mortgage lending up 5.7 bln stg, biggest rise in 2 years - BBA
LONDON (AFX) - Mortgage lending in the UK rose by its highest amount in two years in May but credit card borrowing fell for the second time in three months, a leading industry body confirmed today. (Tue, 27 Jun 2006 09:16:39 GMT)

Mortgage Lending Hits New Record
Mortgage lending hit a new high during May but consumers continued to repay their credit card debt, figures have shown. Total mortgage lending reached ?18.23bn during the month, the highest level on record. (Tue, 27 Jun 2006 09:21:52 GMT)

Mortgage approvals jump
LONDON (Reuters) - The number of mortgage approvals for home purchases rebounded in May after an Easter-related annual decline in the previous month, taking it back in line with the recent trend, data showed on Tuesday. (Tue, 27 Jun 2006 09:27:57 GMT)

Mortgage Times launches BTL tracker
Richard Stokes, head of product development at The Mortgage Times Group, commented: "This product combines three important components: the choice of assessing affordability by rental coverage or earned income; free valuation; flat completion fee. (Tue, 27 Jun 2006 09:28:22 GMT)

Mortgage Lending Hits New Record
Mortgage lending hit a new high during May but consumers continued to repay their credit card debt, figures have shown. (Tue, 27 Jun 2006 09:37:27 GMT)

Mortgage approvals up 20 pct y/y in May
LONDON (Reuters) - The number of mortgage approvals for home purchases in Britain rebounded in May after an Easter-related annual decline in the previous month, taking it back in line with the recent trend, data showed on Tuesday. (Tue, 27 Jun 2006 09:52:21 GMT)

Using home equity loan to buy a car
If you have good financial discipline, it can be a good idea, says Dr. Don. (Tue, 27 Jun 2006 10:00:00 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Tue, 27 Jun 2006 10:56:13 GMT)

U.S. Home Resales Probably Fell in May to Lowest in 4 Months
June 27 (Bloomberg) -- Sales of previously owned homes in the U.S. fell in May to the lowest in four months as higher mortgage rates sapped demand, economists forecast an industry report to show today. (Tue, 27 Jun 2006 11:47:53 GMT)

Mortgage Web Site Visitors: Understand Me for Who I Am
New York, NY (PRWEB) June 27, 2006 -- Getting a mortgage is not one size fits all. (Tue, 27 Jun 2006 12:00:00 GMT)

Using home equity loan to buy a car
Dear Dr. Don, We are looking to buy a used car and trying to think of a better way to finance the purchase. I found out that we could take out a second mortgage, which is tax deductible, to finance the car purchase versus getting a straight car loan. Is this a good idea? Thanks. (Tue, 27 Jun 2006 12:04:59 GMT)

U.S. Home Resales Probably Fell in May to Lowest in 4 Months
June 27 (Bloomberg) -- Sales of previously owned homes in the U.S. fell in May to the lowest in four months as higher mortgage rates sapped demand, economists forecast an industry report to show today. (Tue, 27 Jun 2006 12:18:00 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Tue, 27 Jun 2006 12:19:21 GMT)

U.S. Home Resales Probably Fell in May to Lowest in 4 Months
June 27 (Bloomberg) -- Sales of previously owned homes in the U.S. fell in May to the lowest in four months as higher mortgage rates sapped demand, economists forecast an industry report to show today. (Tue, 27 Jun 2006 12:20:45 GMT)

Mortgage approvals up 20 pct in May
LONDON (Reuters) - The number of mortgage approvals for home purchases in Britain rebounded in May after an Easter-related annual decline in the previous month, taking it back in line with the recent trend, data showed on Tuesday. (Tue, 27 Jun 2006 12:37:17 GMT)

Hanover Capital Mortgage Holdings, Inc. Announces $200 Million Financing Facility
Hanover Capital Mortgage Holdings, Inc. announced that on June 22, 2006 the Company and certain of its subsidiaries entered into a Master Repurchase Agreement with Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main -- New York Branch to finance the purchase of up to $200 million of prime residential mortgage loans. (Tue, 27 Jun 2006 12:40:00 GMT)

Home Loan Bank provides funding for Woodland Ave. housing
The Federal Home Loan Bank of Cincinnati is giving $12 million to housing programs in Ohio, Kentucky and Tennessee, with $60,000 going to a project in the Columbus area. (Tue, 27 Jun 2006 12:49:08 GMT)

A Historic Drop in Interest Rates has Created a Virtual Stampede to Own a Home or Refinance an Existing Mortgage in the
DUBLIN, Ireland----June 27, 2006--Research and Markets has announced the addition of "Mortgages and HELOCs in the US" to their offering. (Tue, 27 Jun 2006 12:55:00 GMT)

Rising interest rates likely to take bigger bite out of home sales
Rising interest rates on top of higher gas prices and property taxes are making it even harder to afford a home and putting the brakes on the nation's hottest housing markets. In the latest evidence, the National Association of Realtors said Tuesday that sales of existing homes fell 6% from January to May. (Tue, 27 Jun 2006 14:02:00 GMT)

Rising interest rates likely to take bigger bite out of home sales
Rising interest rates on top of higher gas prices and property taxes are making it even harder to afford a home and putting the brakes on the nation's hottest housing markets. In the latest evidence, the National Association of Realtors said Tuesday that sales of existing homes fell 6% from January to May. The median priced home in May cost $230,000, up 6% from last year. (Tue, 27 Jun 2006 14:27:53 GMT)

Sonnenblick-Eichner Company Arranges $41.5 Million of First Mortgage Financing for the Maui Coast Hotel in Maui, Hawaii
Sonnenblick-Eichner Company announced today that it has arranged $41,500,000 in first mortgage financing for the fee simple interest in Maui Coast Hotel in Maui, Hawaii. The 10-year fixed rate financing was provided by a European-based financial institution. The financing replaces a $22 million, 10-year fixed rate loan which Sonnenblick-Eichner Company arranged in December 2003. (Tue, 27 Jun 2006 15:00:00 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Tue, 27 Jun 2006 16:13:49 GMT)

Fitch Upgrades 4 Classes of Chase Commercial Mortgage Securities Corp., 2000-1
NEW YORK----June 27, 2006--Fitch upgrades Chase Commercial Mortgage Securities Corp.'s, commercial mortgage pass-through certificates, series 2000-1 as follows: $33.1 million class C to 'AAA' from 'AA'; $10.5 million class D to 'AAA' from 'AA-'; $24.4 million class E to 'AA-' from 'BBB'; $10.5 million class F to 'A' from 'BBB-'. (Tue, 27 Jun 2006 17:57:00 GMT)

Local mortgage broker recognized by national association
Kate Crawford, branch manager of Corporate Investors Mortgage Group in Burlington, has been recognized with the National Association of Mortgage Brokers President's Award for Merit. (Tue, 27 Jun 2006 17:58:59 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Tue, 27 Jun 2006 18:14:37 GMT)

Put A Lid On Rising Mortgage Payments
Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? Or perhaps you've had an unexpected financial hit such as a large hospital bill or a job loss that has made your current mortgage payments unreasonable. If so, refinancing your mortgage can be a great way to save money every month. (Tue, 27 Jun 2006 18:24:16 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Tue, 27 Jun 2006 18:25:40 GMT)

Fitch Affirms 8, Lowers 3, Places 2 on Watch Negative of 3 CDC Mortgage Capital Trusts
NEW YORK----June 27, 2006--Fitch has taken rating actions on the following CDC Mortgage Capital Trust mortgage pass-through certificates: (Tue, 27 Jun 2006 19:00:00 GMT)

Sonnenblick-Eichner Company Arranges $41.5 Million of First Mortgage Financing for the Maui Coast Hotel in Maui, Hawaii
Sonnenblick-Eichner Company announced todaythat it has arranged $41,500,000 in first mortgage financing for the feesimple interest in Maui Coast Hotel in Maui, Hawaii. The 10-year fixedrate financing was provided by a European-based financial institution. Thefinancing replaces a $22 million, 10-year fixed rate loan whichSonnenblick-Eichner Company arranged in December 2003. (Tue, 27 Jun 2006 19:06:44 GMT)

Impac Mortgage Holdings, Inc. Declares Second Quarter Dividend Payment of $0.25 per Common Share and Announces Upcoming
Joseph R. Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. , or the "Company," a Maryland corporation, being taxed as a real estate investment trust , announces the Board of Director's approval and declaration of the second quarter 2006 dividend of $0.25 per common share. (Tue, 27 Jun 2006 20:03:00 GMT)

Loan Prospector Changes to Help Lenders Qualify More Low- and -Moderate Income Borrowers
Fee for Loan Prospector 'caution' assessments dropped; ‘Home Possible’ upgraded (Tue, 27 Jun 2006 20:07:18 GMT)

Fitch Upgrades 4 & Affirms 13 RMBS Ratings from 2 Chase Mortgage Securitizations
NEW YORK----June 27, 2006--Fitch takes rating action on the following Chase Mortgage Finance Trust issues: (Tue, 27 Jun 2006 20:13:00 GMT)

Impac Mortgage Declares Regular Dividend
Real estate investment trust Impac Mortgage Holdings Inc. said Tuesday it declared a regular quarterly dividend of 25 cents per share. (Tue, 27 Jun 2006 20:16:13 GMT)

Impac Mortgage Declares Regular Dividend
(AP) NEWPORT BEACH, Calif. Real estate investment trust Impac Mortgage Holdings Inc. said Tuesday it declared a regular quarterly dividend of 25 cents per share. (Tue, 27 Jun 2006 20:35:18 GMT)

Alert on home loans if economy slides
"Specialist" mortgages have become the fastest-growing segment of the home loans market as new lenders target customers with patchy credit records. (Tue, 27 Jun 2006 21:05:36 GMT)

Man Accused In Mortgage Scheme -- Again
A man accused of being the ringleader in a mortgage scheme is arrested again for the same allegations. (Tue, 27 Jun 2006 21:44:42 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Wed, 28 Jun 2006 00:27:28 GMT)

Mortgage debt rises as plastic levels fall
MORTGAGE lending hit new levels during May, but consumers continued to repay their credit card debt. (Wed, 28 Jun 2006 00:32:45 GMT)

Weekly Home Loan Report: 28th June - 4th July 2006
Economic news points to higher rates. The message on home loan rates is still the same - there won't be any falls for sometime now. (Wed, 28 Jun 2006 00:45:52 GMT)

Gross mortgage lending at £18.2bn
THE number of new loans for house purchase approved by the major UK banks last month was up 20% on May 2005 – highlighting the renewed buoyancy of the residential property market – and gross mortgage lending hit a record £18.2bn. (Wed, 28 Jun 2006 01:30:33 GMT)

• Healthy Activity observed on UK Mortgage Approvals
According to the British Bankers' Association on Tuesday, the number of mortgage approvals jumped in May but analysts cautioned that the rise was largely due to the timing of Easter and seasonal factors. (Wed, 28 Jun 2006 03:52:58 GMT)

Home loan without a home?
Harsh Roongta tells you when it may be possible. (Wed, 28 Jun 2006 04:59:02 GMT)

Mortgage delinquency in Louisiana falls sharply
The number of borrowers who are behind on mortgage payments fell by one-third in Louisiana in the first quarter and by almost one-fourth in Mississippi, a recently released banker survey shows. (Wed, 28 Jun 2006 06:04:56 GMT)

Tighter rules urged for reverse mortgage
The body representing Australia's actuaries wants reverse mortgage issuers to ensure customers are provided with advice from a qualified financial planner. - (Wed, 28 Jun 2006 07:39:55 GMT)

Borrowing Wisely Against Your Home Equity
If done wisely, borrowing against your home equity can be a great way to obtain a low interest loan. That said, home equity loans do carry some risks, so be very careful in analyzing the exact reasons for obtaining one. (PRWEB Jun 28, 2006) Trackback URL: http://www.prweb.com/chachingpr.php/TWFnbi1TcXVhLVpldGEtQ291cC1JbnNlLVplcm8= (Wed, 28 Jun 2006 07:42:14 GMT)

Record mortgage lending but card debt falls
MORTGAGE lending hit a new high during May, but consumers continued to repay their credit card debt, new figures show. (Wed, 28 Jun 2006 08:21:05 GMT)

Mortgage Intelligence launches Scarborough product
Mortgage Intelligence has launched a holiday buy-to-let product from Scarborough Building Society. (Wed, 28 Jun 2006 09:28:32 GMT)

UK: Norwich Union research reveals what customers spend their lifetime mortgage money on
Norwich Union research has revealed what the company’s customers spend their lifetime mortgage money on. Many customers who take out a Norwich Union Lifetime Mortgage spend the money released from their home on home improvements, holidays, new cars and to top up their income. (Wed, 28 Jun 2006 09:46:58 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Wed, 28 Jun 2006 10:03:31 GMT)

UK mortgage lending at record values in May
UK mortgage lending of GBP18.2 billion for May 2006 was the highest on record, 27% higher than the same period last year, according to the British Banking Association (BBA). (Wed, 28 Jun 2006 10:20:49 GMT)

Maguire Properties Completes Refinancing of Glendale Center
LOS ANGELES----June 28, 2006--Maguire Properties, Inc. , a southern California focused real estate investment trust, today announced that it has completed a new $125 million, 10-year fixed rate, interest only financing at a rate of 5.83% for Glendale Center provided by Nomura. (Wed, 28 Jun 2006 10:30:00 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Wed, 28 Jun 2006 10:39:31 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Wed, 28 Jun 2006 10:56:34 GMT)

Mortgage applications fall to four-year low
WASHINGTON (MarketWatch) -- Applications for mortgage loans at U.S. banks dropped by 6.7% last week to the lowest seasonally adjusted level since May 2002, the Mortgage Bankers Association said Wednesday. (Wed, 28 Jun 2006 11:11:00 GMT)

U.S. MBA's Mortgage Applications Index Fell 6.7% Last Week
June 28 (Bloomberg) -- Applications to purchase U.S. homes declined last week to the lowest level since November 2003, and refinancing slowed as mortgage rates increased, an industry report showed. (Wed, 28 Jun 2006 11:18:01 GMT)

Home loan demand drops as rates hit 4-year high
NEW YORK (Reuters) - U.S. mortgage applications fell last week as interest rates hit their highest in over four years, an industry trade group said on Wednesday. (Wed, 28 Jun 2006 11:28:51 GMT)

Home loan demand drops as rates hit 4-year high
NEW YORK (Reuters) - U.S. mortgage applications fell last week as interest rates hit their highest in over four years, an industry trade group said on Wednesday. (Wed, 28 Jun 2006 11:29:53 GMT)

Mortgage applications take a drop, MBA says
U.S. mortgage applications fell last week as the 30-year mortgage rate reached a four-year high, an industry trade group said Wednesday. (Wed, 28 Jun 2006 12:10:00 GMT)

Mortgage applications down, MBA says
U.S. mortgage applications fell last week as the 30-year mortgage rate reached a four-year high, an industry trade group said Wednesday. (Wed, 28 Jun 2006 12:23:50 GMT)

Mortgage demand drops as rates push to highest since '02
Mortgage applications fell last week as interest rates hit their highest level in more than four years, an industry trade group said Wednesday. Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.86%, up 0.13 percentage point, its highest level since April 12, 2002, when it reached 6.92%. (Wed, 28 Jun 2006 12:43:16 GMT)

Mortgage Applications Fall as Interest Rates Climb
The number of applications for mortgages fell last week as interest rates hit their highest in over four years, according to an industry group. (Wed, 28 Jun 2006 13:01:37 GMT)

Home loan demand drops as rates hit 4-year high
By Julie Haviv NEW YORK (Reuters) - U.S. (Wed, 28 Jun 2006 13:04:55 GMT)

Poland's soaring mortgage volumes pose systemic risk, central bank says
WARSAW. JUNE 28. INTERFAX CENTRAL EUROPE - Poland's soaring mortgage-loan volumes create a risk of deterioration in the quality of banks' credit portfolios, should interest or exchange rates swing rapidly, the National Bank of Poland (NBP) wrote in a report out late Tuesday. (Wed, 28 Jun 2006 13:06:02 GMT)

Password headaches deter mortgage advisors from e-services
Independent research reveals frustration with passwords in mortgage sector. (Wed, 28 Jun 2006 14:37:46 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Wed, 28 Jun 2006 15:10:11 GMT)

Fitch Rates J.P. Morgan Mortgage Trust, Series 2006-S2
::► Fitch Rates J.P. Morgan Mortgage Trust, Series 2006-S2◄:: J.P. Morgan Mortgage Trust mortgage pass-through certificates, series 2006-S1 are rated by Fitch as follows: -- $1,247,114,492 classes 1-A-1 through 1-A-24, 2-A-1, 2-A-2, 3-A-1 ... (Wed, 28 Jun 2006 16:33:48 GMT)

Maguire Refinances Office Building
Real estate investment trust Maguire Properties Inc. said Wednesday that it has completed the refinancing of an office building in California, netting the company $33 million. (Wed, 28 Jun 2006 17:32:17 GMT)

CMHC Enhances Flexibility and Reduces Monthly Mortgage Costs
Canada Mortgage and Housing Corporation (CMHC) is helping to make homeownership more affordable and accessible for Canadians by eliminating homeowner high-ratio mortgage insurance application fees, and offering insurance for mortgages with longer amortizations and more flexible repayment options. (Wed, 28 Jun 2006 18:39:05 GMT)

Weekly Home Mortgage Rates
Weekly Home Mortgage Rates (Wed, 28 Jun 2006 19:22:55 GMT)

Million-dollar ouch for mortgage, charity crook
A Malverne man who defrauded thousands of Internet users via mortgage and charity scams has been ordered to pay $1 million in restitutions. (Wed, 28 Jun 2006 19:56:07 GMT)

Home sellers continue to cut prices
Gone are the bidding wars that drove home prices to record highs in each of the past five years. Now buyers have the upper hand, and are waiting for sellers to drop their prices and throw in such extras as country club-memberships and reimbursement for moving costs. (Wed, 28 Jun 2006 19:56:41 GMT)

Federal Home Loan Bank of Atlanta Declares Second Quarter Dividend
The board of directors of the Federal Home Loan Bank of Atlanta has approved an annualized dividend rate for the second quarter of 5.60 percent, applicable to capital stock held during the period from April 1, 2006, to June 30, 2006. (Wed, 28 Jun 2006 20:00:00 GMT)

Fitch Rates Thornburg Mortgage Securities $1.54B, Series 2006-3
NEW YORK----June 28, 2006--Fitch rates Thornburg Mortgage Securities Trust's $1.54B mortgage loan pass-through Certificates, Series 2006-3 as follows: $1.493B classes A and A-X certificates 'AAA'; $16.96 million class B-1 'AA+'; $11.56 million class B-2 'AA-'; $6.94 million class B-3 'A'; $3.85 million class B-4 'BBB'; $3.08 million class B-5 'BB'. (Wed, 28 Jun 2006 22:08:00 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Wed, 28 Jun 2006 23:24:59 GMT)

Pope & Talbot Announces Completion of Refinancing
Pope & Talbot, Inc. today announced that it entered into a credit agreement with Ableco Finance LLC and Wells Fargo Financial Corporation Canada, relating to a $325 million senior secured credit facility. (Thu, 29 Jun 2006 00:48:00 GMT)

Concerns grow over UK mortgage market in harsher lending climate
Two news reports in the UK have pointed to the apparent fragility of the mortgage market, with home repossessions rising in London and regulatory concerns over sub-prime lending trends. (Thu, 29 Jun 2006 01:05:49 GMT)

Loan costs rise with interest rates
The borrower's pain is not necessarily the saver's gain. The cost of mortgages, home equity lines and credit card debt has gone up with each bump in interest rates by the Federal Reserve. Savers, for the most part, have not seen comparable increases in their returns. (Thu, 29 Jun 2006 06:15:21 GMT)

Report suggests housing slowdown
Applications to buy U.S. homes declined last week to the lowest level since November 2003, and refinancing slowed as mortgage rates increased, an industry report showed. (Thu, 29 Jun 2006 07:19:14 GMT)

Bush, GM to announce extension of car loan to first-responders
Saints rookie running back Reggie Bush is continuing to help his beleaguered new home city, and he's using yet another one of his corporate sponsors to do so. (Thu, 29 Jun 2006 07:53:07 GMT)

May mortgage lending highest in 2-1/2 years
LONDON (Reuters) - Mortgage lending surged to its highest in 2-1/2 years in May, at 9.304 billion pounds, the Bank of England said on Thursday, in a further sign the nation's housing market is in robust form. (Thu, 29 Jun 2006 08:52:22 GMT)

Mortgage lending highest in 2-1/2 years
LONDON (Reuters) - Mortgage lending surged to its highest in 2-1/2 years in May, the Bank of England said on Thursday, providing further evidence the housing market is in robust form. (Thu, 29 Jun 2006 09:12:57 GMT)

May mortgage lending highest in 2-1/2 years
LONDON (Reuters) - Mortgage lending surged to its highest in 2-1/2 years in May, the Bank of England said on Thursday, providing further evidence the nation's housing market is in robust form. (Thu, 29 Jun 2006 09:22:50 GMT)

CMHC announces plans to offer mortgage insurance for interest-only loans
OTTAWA (CP) - The Canada Mortgage and Housing Corp. now offers mortgage insurance for interest-only loans. (Thu, 29 Jun 2006 09:34:55 GMT)

Survey: 30-year mortgage rate nears 7 percent
Bankrate's weekly national survey shows where mortgage rates are -- and our analysis predicts where they're headed. (Thu, 29 Jun 2006 10:00:00 GMT)

Mortgage debt breaks £1 trillion barrier
Money: Britain's collective residential mortgage debt breaks through £1 trillion barrier, Bank of England figures show. (Thu, 29 Jun 2006 10:20:14 GMT)

Hong Leong Bank launches fast personal loan approval
Hong Leong Bank Bhd (HLB) has launched the Hong Leong Personal Loan, a monthly instalment loan product that offers fast loan approval within 48 hours nationwide – the fastest in the financial industry. (Thu, 29 Jun 2006 10:47:09 GMT)

King tight-lipped on rates as mortgage borrowing rises
Mervyn King, governor of the Bank of England, gave little indication of the next move in UK interest rates on Thursday after the Bank's own figures showed mortgage borrowing rising strongly in May. (Thu, 29 Jun 2006 11:00:17 GMT)

Mortgage disclosure documents: quality is improving
The quality of mortgage disclosure documentation has improved over the past year, the Financial Services Authority has found. The results of its latest review reveal that: (Thu, 29 Jun 2006 11:11:32 GMT)

Bankrate: Mortgage Rates Soar Ahead of Fed Meeting
Fixed mortgage rates increased for the third consecutive week as higher interest rate expectations take hold. The average 30-year fixed rate mortgage jumped from 6.83 percent to 6.93 percent, the highest since April 17, 2002, according to Bankrate.com's weekly national survey of large lenders. (Thu, 29 Jun 2006 11:30:00 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Thu, 29 Jun 2006 12:19:42 GMT)

Mortgage debt breaks £1 trillion barrier
Britain's collective residential mortgage debt has broken through the £1 trillion barrier, figures from the Bank of England showed today. (Thu, 29 Jun 2006 12:30:17 GMT)

Federal home plan lures high-risk borrowers
Owning your own home has been a lifetime goal, but low pay, credit problems and the difficult task of saving up enough money for a down payment have put wrenches in your plans. It appears a high-interest subprime loan is your only option. (Thu, 29 Jun 2006 12:34:39 GMT)

May mortgage lending highest in 2-1/2 years
LONDON (Reuters) - Mortgage debt exceeded a trillion pounds for the first time in May, the Bank of England said on Thursday, underlining the economy's vulnerability to any downturn in the housing market. (Thu, 29 Jun 2006 12:37:17 GMT)

Mortgage lending errors 'persist'
Too many mortgage lenders and brokers are providing misleading information, the financial regulator says. (Thu, 29 Jun 2006 13:04:25 GMT)

Federal Home Loan Bank of Des Moines Earmarks $500,000 for Disaster Assistance
Homeowners affected by disasters in 2006 now have another source of funds available to repair or reconstruct their damaged homes. Beginning July 5, 2006, the Federal Home Loan Bank of Des Moines is allocating $500,000 to a Disaster Recovery Fund to provide reconstruction or rehabilitation assistance to eligible households. (Thu, 29 Jun 2006 13:17:42 GMT)

Fitch Affirms GE Commercial Mortgage Corp Series 2005-C1
NEW YORK----June 29, 2006--Fitch Ratings affirms GE Commercial Mortgage Corporation commercial mortgage pass-through certificates, series 2005-C1, as follows: $58.5 million class A-1 at 'AAA'; $419.3 million class A-2 at 'AAA'; $155 million class A-3 at 'AAA'; $36.8 million class A-4 at 'AAA'; $48.2 million class A-AB at 'AAA'; $457.9 million class A-5 at 'AAA'; $145.3 million class A-1A at (Thu, 29 Jun 2006 15:33:00 GMT)

HouseRaising inks deal with SunTrust Mortgage
SunTrust Mortgage Inc. will have first rights to finance construction of all homes built by HouseRaising Inc. or its affiliates under a new contract. (Thu, 29 Jun 2006 15:38:52 GMT)

Freddie Mac: 30-year mortgage rates rise
The average rate on a 30-year fixed- rate mortgage in the U.S. rose to 6.78 percent this week, the highest since May 2002, according to Freddie Mac. (Thu, 29 Jun 2006 15:42:51 GMT)

Mortgage rate rises to 4-year high
Mortgage rates jumped this week to the highest level in four years, Freddie Mac said Thursday. (Thu, 29 Jun 2006 16:09:00 GMT)

U.S. mortgage rates up for third straight week
CHICAGO (MarketWatch) -- Mortgage rates rose for the third week in a row, sending the 30-year loan to its highest average rate in 49 months, according to Freddie Mac's weekly survey released Thursday. (Thu, 29 Jun 2006 16:11:26 GMT)

Mortgage rates climb on inflation fears
Interest rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than four years as investors continued to express worries about inflation. (Thu, 29 Jun 2006 16:26:14 GMT)

Mortgage Rates Climb on Inflation Fears
WASHINGTON (AP) - Rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than four years as investors continued to express worries about inflation. Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.78 percent this week, up from 6.71 percent last week. It was the highest (Thu, 29 Jun 2006 16:37:37 GMT)

Mortgage Rates Climb on Inflation Fears
Interest rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than four years as investors continued to express worries about inflation. Freddie Mac, the mortgage company, reported Thursday that rates on 30-year,... (Thu, 29 Jun 2006 17:21:32 GMT)

Mortgage Rates Climb on Inflation Fears
Washington (AP) - Rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than four years as investors continued to express worries about inflation.Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.78 percent this week, up from 6.71 percent last week. (Thu, 29 Jun 2006 17:25:17 GMT)

Accredited Closes $1.4B Securitization
Mortgage banker Accredited Home Lenders Holding Co. said Thursday it closed a $1.4 billion securitization. The trust contains about $1.05 billion of first-lien and second-lien residential mortgage loans via its real estate investment trust unit, Accredited Mortgage Loan REIT Trust. (Thu, 29 Jun 2006 17:39:27 GMT)

Fitch Rates Wachovia Mortgage Loan Trust Series 2006-AMN1
NEW YORK----June 29, 2006--Fitch rates Wachovia Mortgage Loan Trust, Series 2006-AMN1, as follows: $660.1 million classes A-1, A-2 and A-3 'AAA'; $9.6 million class M-1 'AA+'; $8.6 million class M-2 'AA+'; $5.4 million class M-3 'AA'; $5.0 million class M-4 'AA-'; $4.3 million class M-5 'A+'; $3.9 million class M-6 'A'; $2.5 million class B-1 'A-'; $2.5 million class B-2 'BBB+'; $3.6 million (Thu, 29 Jun 2006 18:39:00 GMT)

Federal Home Loan Bank of Indianapolis Announces Election of New Board Member
The Board of Directors of the Federal Home Loan Bank of Indianapolis elected Jeffrey A. Poxon, CFA, Senior Vice President of Investments at Lafayette Life Insurance Company, Lafayette, Indiana, to fill the unexpired term of departing board member Vincent Otto. (Thu, 29 Jun 2006 19:54:06 GMT)

Bankrate: Mortgage Rates Soar Ahead of Fed Meeting
RISMEDIA, June 30, 2006—Fixed mortgage rates increased for the third consecutive week as higher interest rate expectations take hold. The average 30-year fixed rate mortgage jumped from 6.83 percent to 6.93 percent, the highest since April 17, 2002, according to Bankrate.com's weekly national survey of large lenders. The 30-year fixed rate mortgages in this week's survey had an average of 0.34 (Thu, 29 Jun 2006 20:20:48 GMT)

Bankrate: Mortgage Rates Soar Ahead of Fed Meeting
RISMEDIA, June 30, 2006—Fixed mortgage rates increased for the third consecutive week as higher interest rate expectations take hold. The average 30-year fixed rate mortgage jumped from 6.83 percent to 6.93 percent, the highest since April 17, 2002, according to Bankrate.com's weekly national survey of large lenders. The 30-year fixed rate mortgages in this week's survey had an average of 0.34 (Thu, 29 Jun 2006 21:20:40 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for Second Quarter 2006
SAN FRANCISCO----June 29, 2006--The Federal Home Loan Bank of San Francisco announced today that the Bank's Board of Directors declared a dividend at its May meeting for the second quarter of 2006, to be determined in accordance with the Bank's Retained Earnings and Dividend Policy. (Thu, 29 Jun 2006 21:32:00 GMT)

Cairns Lockie Mortgage Commentary 30 June 2006
Welcome to the eleventh fortnightly Cairns Lockie Mortgage Commentary for 2006, aiming to keep you informed on developments at Cairns Lockie, Mortgage Bankers and the mortgage market in general. (Thu, 29 Jun 2006 23:35:54 GMT)

Mortgage debt tops £1 trillion for first time
Mortgage debt in Britain has passed £1 trillion for the first time, reports the Bank of England. (Fri, 30 Jun 2006 00:56:05 GMT)

Mortgage debt tops £1 trillion for first time
Mortgage debt in Britain has passed £1 trillion for the first time, the Bank of England revealed yesterday as it reported the strongest rise in new mortgage lending for two-and-a-half years. (Fri, 30 Jun 2006 01:00:37 GMT)

Mortgage Rates Keep On Climbing
Rates on 30-year mortgages rose to the highest level in more than four years this week, as investors worry about inflation. Financial markets predict that interest rates will continue to climb in the next six months. (Fri, 30 Jun 2006 03:58:08 GMT)

Mortgage applications drop 6.7%
Applications to purchase U.S. homes declined last week to the lowest level since November 2003, and refinancing slowed as mortgage rates increased, an industry report showed. (Fri, 30 Jun 2006 06:04:20 GMT)

Alternative to subprime loan may help
Owning your own home has been a lifetime goal, but low pay, credit problems and the difficult task of saving enough money for a down payment have thrown wrenches in your plans. It appears a high-interest subprime loan is your only option. (Fri, 30 Jun 2006 06:04:40 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 30 Jun 2006 06:59:03 GMT)

30-Year Mortgage Rate Increases to 6.78%
Rates on 30-year fixed-rate mortgages increased to a nationwide average of 6.78% this week, up from 6.71% last week and the highest level since the week ended May 24, 2002, mortgage company Freddie Mac said. (Fri, 30 Jun 2006 07:16:56 GMT)

Climbing rates, prices pinch Utah home buyers
The last time Diane and Kevin Smith were in the market for a new home, rates on 30-year mortgages hovered around 6 percent. But those rates, just two years ago, are long gone. Today, the Smiths face 30-year home loan rates pushing 7 percent - the highest level in four years - as they prepare to move to Utah from Texas. "In the big scheme of things, 7 percent is still a pretty good (Fri, 30 Jun 2006 07:24:21 GMT)

Home loan rates climb
Mortgage interest rates rose for the third straight week as investor worries about inflation pushed the costs of home loans to four- and five-year highs, federal mortgage giant Freddie Mac reported Thursday. (Fri, 30 Jun 2006 07:29:20 GMT)

More mortgage pain coming
Get ready for mortgage rates of 7 percent -- or higher. The Federal Reserve on Thursday announced a quarter-percentage-point increase in its federal funds rate, the 17th boost in its benchmark short-term interest rate since mid-2004. (Fri, 30 Jun 2006 10:17:26 GMT)

Boost in rates blurs mortgage options
The Federal Reserve campaign to raise interest rates, coupled with a cooling housing market and an economy that shows signs of slowing, has left prospective home buyers at a crossroads as they ponder their mortgage options. (Fri, 30 Jun 2006 10:17:42 GMT)

Mortgage debt tops £1 trillion for first time
Money: Mortgage debt in Britain has passed £1 trillion for the first time, the Bank of England reveals. (Fri, 30 Jun 2006 10:19:30 GMT)

Mortgage debt tops £1 trillion for first time
Bank of England reveals record mortgage debt as it reports strongest rise in new lending for two-and-a-half years. (Fri, 30 Jun 2006 10:44:48 GMT)

Arraignment set in mortgage scam
Hattiesburg attorney Kimberly Castle was to be arraigned today on a second federal indictment in a so-called mortgage flipping case. (Fri, 30 Jun 2006 11:31:50 GMT)

More mortgage pain coming
Get ready for mortgage rates of 7 percent -- or higher. The Federal Reserve on Thursday announced a quarter-percentage-point increase in its federal funds rate, the 17th boost in its benchmark short-term interest rate since mid-2004. (Fri, 30 Jun 2006 13:30:52 GMT)

American Home Mortgage downgraded
MELVILLE – Research firm A.G. Edwards has dropped its rating of American Home Mortgage from “buy” to “hold.” Back in April, the Melville-based mortgage originator reported its first-quarter profit hit $54.5 million, up less than 1 percent from the prior year’s $54 million. (Fri, 30 Jun 2006 14:26:00 GMT)

Students rush to refinance loans before hike
Thousands of college students and parents are clogging phone lines and rushing to Internet sites in a scramble to refinance college loans before a sharp interest rate increase this weekend. (Fri, 30 Jun 2006 14:31:14 GMT)

Fitch Rates Harborview Mortgage Loan Trust Series 2006-6
NEW YORK----June 30, 2006--Fitch rates Harborview Mortgage Loan Trust mortgage pass-through certificates, series 2006-6 as follows: $597 million classes 1A-1A, 1A-1B, X-1, 2A-1A, 2A-1B, 3A-1A, 3A-1B, 4A-1A, 4A-1B, 4-X, 5A-1A, 5A-1B, and A-R 'AAA'; $15.8 million class B-1 'AA'; $7.6 million class B-2 'A'; $4.4 million class B-3 'BBB'; $4.4 million class B-4 'BB' ; $3.1 million class B-5 'B' . (Fri, 30 Jun 2006 14:57:00 GMT)

• US Mortgage Rates Rising, Creating Inflation Fears
Freddie Mac, the mortgage company, reported Thursday that interest rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than four years as investors continued to express worries about inflation. (Fri, 30 Jun 2006 17:37:57 GMT)

Fitch Rates $942.8MM Citigroup Mortgage Loan Trust Inc., Series 2006-AR5
::► Fitch Rates $942.8MM Citigroup Mortgage Loan Trust Inc., Series 2006-AR5◄:: Fitch rates Citigroup Mortgage Loan Trust Inc., mortgage pass-through certificates, series 2006-AR5 as follows: Group I: -- $578.8 million classes 1-A1A, 1-A1B, 1-AIO, 1-A2A, ... (Fri, 30 Jun 2006 17:47:28 GMT)

Fitch Rates J.P. Morgan Mortgage Acquisition Corp $514.41MM 2006-HE2
::► Fitch Rates J.P. Morgan Mortgage Acquisition Corp $514.41MM 2006-HE2◄:: Fitch rates J.P. Morgan Mortgage Acquisition Corp.'s asset-backed pass-through certificates, series 2006-HE2, which closed on June 30, 2006, as follows: -$415.06 million, classes A-1 ... (Fri, 30 Jun 2006 19:47:47 GMT)

The Stack Attack
Larry Rice understands: The mountain of paperwork involved in taking out a mortgage loan can overwhelm even the most patient of home buyers and strain the signing wrists of borrowers with the shortest of names. (Fri, 30 Jun 2006 19:58:25 GMT)

Fitch Rates $598.7MM Nomura Home Equity Loan Trust 2006-WF1
NEW YORK----June 30, 2006--Fitch Ratings has assigned the following ratings to Nomura Home Equity Loan Trust, series 2006-WF1: $497,125,000 classes A-1, A-2, A-3, and A-4 'AAA'; $21,180,000 class M-1 'AA+'; $19,623,000 class M-2 'AA+'; $11,524,000 class M-3 'AA'; $10,278,000 class M-4 'AA-'; $9,344,000 class M-5 'A+'; $9,032,000 class M-6 'A'; $8,721,000 class M-7 'A-'; $7,164,000 class M-8 (Fri, 30 Jun 2006 20:25:00 GMT)

Fitch Rates $598.7MM Nomura Home Equity Loan Trust 2006-WF1
::► Fitch Rates $598.7MM Nomura Home Equity Loan Trust 2006-WF1◄:: Fitch Ratings has assigned the following ratings to Nomura Home Equity Loan Trust, series 2006-WF1: -- $497,125,000 classes A-1, A-2, A-3, and A-4 'AAA'; -- $21,180,000 class ... (Fri, 30 Jun 2006 20:33:17 GMT)

Fitch Rates $1.09B NovaStar Mortgage Funding Trust, Series 2006-3
::► Fitch Rates $1.09B NovaStar Mortgage Funding Trust, Series 2006-3◄:: NovaStar Mortgage Funding Trust $1.09 billion home equity loan asset-backed certificates, series 2006-3, which closed on June 29, 2006, are rated by Fitch as follows: -- $921.80 million ... (Fri, 30 Jun 2006 20:47:57 GMT)

Put a Lid on Rising Mortgage Payments
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 30 Jun 2006 21:21:09 GMT)

Americold Realty Trust completes $400M mortgage financing
Americold Realty Trust, a company jointly owned by Crescent Real Estate Equities Co., completed a $400 million, one-year interest-only mortgage financing. (Fri, 30 Jun 2006 22:11:20 GMT)

Federal Home Loan Bank of San Francisco Releases May 2006 Cost of Funds Index
SAN FRANCISCO----June 30, 2006--The Federal Home Loan Bank of San Francisco announced June 30, 2006, that the 11th District Monthly Weighted Average Cost of Funds Index for May 2006 is 3.884%. (Fri, 30 Jun 2006 22:18:00 GMT)

Largest mortgage-fraud case in Tampa Bay history nearing a close with yet another plea deal
Another accused member of an East Manatee mortgage fraud ring has struck a plea deal with federal prosecutors, court records show. (Fri, 30 Jun 2006 22:36:56 GMT)

Lawmakers question home loan bank capital rules
The Republican chairman and top Democrat on the House Financial Services Committee on Friday voiced concerns that a proposed tightening of capital standards for Federal Home Loan Banks may harm the U.S. housing finance system. (Fri, 30 Jun 2006 23:52:21 GMT)

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