Mortgage News Jul 2006

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Thirty-year mortgage rates hit highest level since 2002
Rates on 30-year mortgages rose this week to the highest level since the spring of 2002. Freddie Mac, the mortgage company, reported (Thu, 20 Jul 2006 18:20:59 GMT)

Mortgage rates hit 4-year high
Rates on 30-year mortgages rose this week to the highest level nationally since the spring of 2002. Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.80 percent, up from 6.74 percent last week. The increase pushed 30-year rates to the highest level since they stood at 6.81 percent the week of May 24, 2002. (Thu, 20 Jul 2006 18:36:03 GMT)

Schwarzenegger Approves Loan For Stem Cell Institute
A day after President Bush vetoed a measure that would have expanded federal funding of embryonic stem cell research, California Gov. Arnold Schwarzenegger on Thursday authorized a $150 million loan to fund the state's moribund stem cell institute, which has been stalled by lawsuits. (Thu, 20 Jul 2006 18:49:02 GMT)

Mortgage rate hits four-year high
Long-term mortgage rates are more than 1 percent higher than they were a year ago. (Thu, 20 Jul 2006 19:10:05 GMT)

Federal Home Loan Bank of New York Declares a 5.75% Dividend for the Second Quarter of 2006
Announcement from the President -- I am pleased to report that our Board of Directors has approved a dividend rate for the second quarter of 2006 of 5.75% . (Thu, 20 Jul 2006 19:27:00 GMT)

Thornburg Mortgage Reports 2Q EPS of $0.61
SANTA FE, N.M.----July 20, 2006--Thornburg Mortgage Inc. 2Q mortgage originations of $1.4 billion, up 31% year-over-year Quarterly dividend maintained at $0.68 Total assets increase to $49.9 billion; a 45% increase over prior year Strong credit underscored by 0.05% 60-day plus delinquent loans Book value of $21.27; up 1% year-over-year (Thu, 20 Jul 2006 20:05:00 GMT)

REITs Set Up In Bases As Home Stocks Drop
Exchange traded funds that track home builders have been slaughtered. But ETFs focused on real estate investment trusts, or REITs, seem to be setting up in new bases. What's going on? (Thu, 20 Jul 2006 23:00:00 GMT)

REITs Set Up In Bases As Home Stocks Drop
Exchange traded funds that track home builders have been slaughtered. But ETFs focused on real estate investment trusts, or REITs, seem to be... (Thu, 20 Jul 2006 23:00:00 GMT)

Cherry Creek Mortgage, Premier Mortgage to merge
Cherry Creek Mortgage Co. will merge with Premier Mortgage Group LLC Aug. 1. (Thu, 20 Jul 2006 23:39:06 GMT)

Wells to buy WaMu's $140B mortgage portfolio
Wells Fargo has agreed to buy Washington Mutual's entire portfolio of government mortgage servicing and a portion of its conforming, fixed-rate portfolio, totaling $140 billion and representing about 1.3 million servicing customers. (Fri, 21 Jul 2006 00:22:31 GMT)

Mortgage lending hits record £32.2bn and retail sales rise
Mortgage lending reached a record high of £32.2bn last month according to figures released yesterday, suggesting there was no immediate end in sight to soaring house prices. Robust consumer spending was also highlighted by strong retail sales boosted by the World Cup and the hot weather in June. (Fri, 21 Jul 2006 01:15:27 GMT)

Mortgage Rates Highest Since 2002
Freddie Mac reports that mortgage rates are now at the highest level since 2002. Some economists fear that the rise could sharply deflate the housing boom, but Federal Reserve Chairman Ben Bernanke said the housing slowdown "appears to be orderly." (Fri, 21 Jul 2006 03:55:00 GMT)

Family finances: Beware of the 'mortgage hype' on your TV
As interest rates rise, mortgage volume has been drying up. This means potential borrowers must be especially wary as some mortgage brokers are stooping to new lows to generate business. (Fri, 21 Jul 2006 04:17:49 GMT)

Assessing a reverse mortgage
Q I'm a 68-year-old who owns a two-family home and is single, retired and has few heirs. Do you think a reverse mortgage is something I should consider? - D.B. A A lot of people... (Fri, 21 Jul 2006 04:32:05 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 04:49:41 GMT)

Mortgage rates continue to rise
Rates on 30-year mortgages rose this week to the highest level since the spring of 2002. Freddie Mac, the mortgage company, reported Thursday... (Fri, 21 Jul 2006 07:19:12 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 09:22:49 GMT)

Mortgage lending hits record high of £32bn
Mortgage lending was at a record high in June hitting £32.2bn, the Council of Mortgage Lenders has revealed. The news comes amid yesterday's findings that mortgage loans are the biggest area of consumer debt in the UK. (Fri, 21 Jul 2006 09:33:59 GMT)

World Leagues Kily Gonzalez returns home
Cristian "Kily" Gonzalez, who played for Argentina in the 2002 FIFA World Cup™, has returned to Rosario Central on loan from Inter Milan, the Argentine first division club said. (Fri, 21 Jul 2006 10:40:41 GMT)

Mortgage interest rates up this week
Rates on 30-year mortgages rose this week to the highest level since the spring of 2002. Mortgage company Freddie Mac said yesterday that rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.80 percent from 6.74 percent last week. (Fri, 21 Jul 2006 10:52:45 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, 21 Jul 2006 11:11:53 GMT)

Looking for details of mortgage-based bond funds
I recently read about a type of mortgage-based bond fund that has a higher return rate than corporate bonds. I can’t find out anything more about this. Can you help? (Fri, 21 Jul 2006 11:26:49 GMT)

Candidate pitches military loan expansion
CARBONDALE - Alexander Giannoulias, Democratic candidate for state treasurer, stopped by Carbondale Thursday to pitch expanding the state's military loan program. (Fri, 21 Jul 2006 11:49:04 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Fri, 21 Jul 2006 12:20:42 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 12:21:32 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Fri, 21 Jul 2006 12:26:14 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 12:26:54 GMT)

30-year mortgage rates jump
WASHINGTON -- Rates on 30-year mortgages rose this week to the highest level since the spring of 2002. Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.80 percent, up from 6.74 percent last week. (Fri, 21 Jul 2006 12:31:48 GMT)

Bankrate: Bernanke Keeps Mortgage Rates in Flux
Fixed mortgage rates are more than one full percentage point higher than one year ago (Fri, 21 Jul 2006 13:20:38 GMT)

Mortgage rates rise to highest level in 4 years
Rates on 30-year mortgages rose this week to the highest level since the spring of 2002. Freddie Mac, the mortgage company, said Thursday that rates on 30-year, fixed-rate mortgages increased to a nationwide average of 6.80 percent, up from 6.74 percent last week. The increase pushed 30-year rates to the highest level since the 6.81 percent the week of May 24, 2002. Low mortgage rates had powered (Fri, 21 Jul 2006 13:27:07 GMT)

'This has been a nightmare'
Bellwood resident Pam Ellis didn't know her identity had been stolen until she applied to refinance the mortgage on her home this year. She was denied a lower rate because she had too many open accounts and credit inquiries. (Fri, 21 Jul 2006 14:25:22 GMT)

World Leagues Kily Gonzalez returns home
Cristian "Kily" Gonzalez, who played for Argentina in the 2002 FIFA World Cup™, has returned to Rosario Central on loan from Inter Milan, the Argentine first division club said. (Fri, 21 Jul 2006 14:25:31 GMT)

D-B to save quarter-million in refinancing
COAL GROVE — Officials compare it to the refinancing done by many homeowners around the nation, only in this case, the home in question belongs to Dawson-Bryant students, and the move could save taxpayers nearly a quarter of a million dollars. (Fri, 21 Jul 2006 15:21:59 GMT)

Hawaii mortgage rates hold below 6.5%
For a second week, most Hawaii lenders quoted less than 6.5 percent for a 30-year, fixed-rate home mortgage, the Honolulu Board of Realtors reported Friday. (Fri, 21 Jul 2006 15:41:15 GMT)

Mortgage slowdown hits Golden West
Golden West Financial Corp. posted an 8 percent gain in second-quarter earnings, but the company also saw mortgage demand decline and its expenses rise, underscoring some analysts' skepticism of the thrift's purchase by Wachovia Corp. (Fri, 21 Jul 2006 16:11:35 GMT)

Federal Home Loan Bank of Atlanta Awards $23 Million for Affordable Housing
Federal Home Loan Bank of Atlanta will award more than $23 million in grants and subsidized loans to fund 81 single-family and multi-family projects in 12 states and the District of Columbia in the first round of its 2006 Affordable Housing Program . (Fri, 21 Jul 2006 17:28:00 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. (Fri, 21 Jul 2006 19:56:05 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Fri, 21 Jul 2006 19:57:16 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 19:57:18 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. (Fri, 21 Jul 2006 20:00:34 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Fri, 21 Jul 2006 20:01:14 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 20:01:44 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Fri, 21 Jul 2006 20:13:31 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 20:13:41 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 20:14:01 GMT)

Mortgage firm suspends mailings in Wisconsin
A West Virginia mortgage company has suspended mailings in Wisconsin because of potential legal issues, which negatively impacted the firm's second quarter net income. (Fri, 21 Jul 2006 20:15:08 GMT)

Norwich busines owner used $35,000 loan to pay debt, purchase equipment
NORWICH — Joaquin “Kino” Bolanos, who runs Kino Envios, a business that wires money domestically and internationally, received a $35,000 loan from the Eastern Connecticut Segmented Loan Pool, part of the Connecticut Economic Development Fund, last year. (Fri, 21 Jul 2006 21:04:52 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Fri, 21 Jul 2006 21:45:56 GMT)

Credit cards, house can help finance home improvements
While it's fun to imagine how you'll use a new space in your home -- a new master bathroom, a renovated kitchen or a spacious home office -- figuring out how to pay for it is another matter entirely. Understanding the details of your financing options can help you make a decision that's as good for your pocketbook as the renovation is for your house. (Sat, 22 Jul 2006 01:56:06 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Sat, 22 Jul 2006 02:58:52 GMT)

Turning wine into mortgage payments
HOMEOWNERS can use fine wine to repay their mortgage, following the launch of a new investment product. (Sat, 22 Jul 2006 03:35:57 GMT)

Cut energy bills with new web loan
SCOTTISH Gas has introduced an online personal loan that allows customers to save money on energy bills for 12 months. (Sat, 22 Jul 2006 03:37:07 GMT)

Katrina aside, foreclosure rate falls, job growth continues
Mortgage rates are rising, home prices are stalling in parts of the country, lots of people are taking out alternative home loans that barely existed five years ago and inflation seems to be picking up. (Sat, 22 Jul 2006 04:15:45 GMT)

Fewer Elderly Paying Off Mortgages
WASHINGTON — Ask Norm Edelen how old he'll be when his last mortgage payment is due, and he doesn't miss a beat. The answer: 100. (Sat, 22 Jul 2006 07:06:41 GMT)

REAL ESTATE: Resist the urge to pay off mortgage
Q. I am 72. My wife is 65. We have $160,000 in three-month T-bills. Should we use that money to pay off our approximate $100,000 mortgage at 5.7 percent interest with 28 years remaining at a $560 monthly payment? (Sat, 22 Jul 2006 07:22:19 GMT)

FHA hikes loan limits
More local home buyers in Ada, Canyon, Gem and Owyhee counties may qualify for Federal Housing Administration mortgages and home-improvement loans under new mortgage limits announced Friday by the U.S. Department of Housing and Urban Development. (Sat, 22 Jul 2006 08:08:46 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Sat, 22 Jul 2006 09:36:29 GMT)

Candidate pitches military loan expansion
CARBONDALE - Alexander Giannoulias, Democratic candidate for state treasurer, stopped by Carbondale Thursday to pitch expanding the state's military loan program. (Sat, 22 Jul 2006 11:12:35 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. (Sat, 22 Jul 2006 12:19:32 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Sat, 22 Jul 2006 12:20:22 GMT)

Fewer Elderly Paying Off Mortgages
WASHINGTON — Ask Norm Edelen how old he'll be when his last mortgage payment is due, and he doesn't miss a beat. The answer: 100. (Sat, 22 Jul 2006 15:20:25 GMT)

More elderly keeping mortgages
BOSTON, July 22 (UPI) -- A quarter of U.S. homeowners over age 65 are still making mortgage payments, up from 11 percent in 1983, a Boston College study indicates. (Sat, 22 Jul 2006 15:29:25 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Sat, 22 Jul 2006 15:34:00 GMT)

Re-refinancing, and Putting Off Mortgage Pain
As payments on mortgages balloon, many Americans have found a way to put off the day of reckoning. (Sat, 22 Jul 2006 16:05:42 GMT)

MONEY & BANKING
INSIGHT Fixed or floating: Home loans get interesting What do home-loan borrowers do now? Is conversion to a fixed rate loan beneficial? Will prepayment of your loan make sense? (Sat, 22 Jul 2006 18:44:06 GMT)

Mortgage REIT’s Are Aloft, but Dangers Remain
The direction of a sector may depend in part on the Fed’s next moves. (Sat, 22 Jul 2006 19:14:02 GMT)

Petrol prices driving case for rate rise
The news looks bad for people with a home loan. Economists say it will take a statistical miracle to stop the Reserve Bank lifting interest rates next month. - (Sat, 22 Jul 2006 19:19:20 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. (Sun, 23 Jul 2006 00:53:34 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Sun, 23 Jul 2006 00:54:54 GMT)

Piggybacks don't bring home bacon: S&P rates lenders' risks on popular mortgage product as too high
Wall Street is sounding the alarm on one of the most popular ways to finance a home purchase these days: so-called "piggyback" mortgages. With piggybacking, a home buyer takes out two mortgages... (Sun, 23 Jul 2006 04:18:53 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, 23 Jul 2006 06:04:48 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? (Sun, 23 Jul 2006 06:18:40 GMT)

Homeowners still refinancing
This bit of data arrived via e-mail from the Mortgage Bankers Assn.: Despite the upward drift in mortgage rates, refinancings continue to account for more than a third of all new mortgage applications. (Sun, 23 Jul 2006 06:48:12 GMT)

Tips on home appraisals
To avoid appraisal inflation, consumers should know: When buying or refinancing a home, consumers have a right to a written copy of their appraisal. (Sun, 23 Jul 2006 07:05:02 GMT)

By Gloria Irwin Beacon Journal business writer
When mortgage counselor Fred Vaughn and his wife decided a few years ago to tap their home equity to pay off bills, he learned firsthand about one of the dirty secrets of today's lending environment. (Sun, 23 Jul 2006 07:05:33 GMT)

Don't seek a reverse mortgage too early
Q: My husband and I (ages 73 and 83) have a lot of equity in our home of 40 years. Because we will probably need money in the near future for living expenses, I've been trying to persuade my husband to look into a reverse mortgage. But he tells me your articles advise against obtaining one unless the homeowners plan to stay in their home at least five years. (Sun, 23 Jul 2006 07:18:56 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? (Sun, 23 Jul 2006 07:30:12 GMT)

'Appreciating' the benefits of a vacation home
Baby boomers are fueling the vacation home market, turning to real estate as a great diversifier to more volatile stock holdings as they near retirement. (Sun, 23 Jul 2006 07:30:35 GMT)

It's riskier refinancing with rates on the rise
B5 PFP Refinancing column By Jeff Brownsend all 9p3.5, 1 leg (Sun, 23 Jul 2006 08:11:17 GMT)

Make sense out of refinancing
This bit of data arrived via e-mail from the Mortgage Bankers Association: Despite the upward drift in mortgage rates, refinancings continue to account for more than a third of all new mortgage applications. (Sun, 23 Jul 2006 08:14:08 GMT)

Longer mortgages on the way
They're from the same school of thought as the five- or seven-year car loan -- only these new financial products are for your home. Move over, 30-year mortgage; 40-, 45- and 50-year home loans are on their way. (Sun, 23 Jul 2006 09:47:54 GMT)

Keep 'em apart: Separating household funds from home improvement money can simplify your personal accounting
Oil and water don't mix, and neither do personal and project funds when it comes to home improvements. Homeowners should separate household cash from monies spent on remodeling or makeover jobs budgeted for more than a few thousand dollars. (Sun, 23 Jul 2006 10:14:11 GMT)

The growing problem of mortgage fraud
Lenders incurred more than $1 billion in fraud losses in the last fiscal year, twice the amount of the previous year. (Sun, 23 Jul 2006 10:15:05 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Sun, 23 Jul 2006 10:19:06 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. (Sun, 23 Jul 2006 10:24:01 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Sun, 23 Jul 2006 10:31:06 GMT)

Mortgage rates climb, get to 6.8%
WASHINGTON – Rates on 30-year mortgages rose last week to the highest level since the spring of 2002. (Sun, 23 Jul 2006 12:01:28 GMT)

Ahli United Bank announces partnership with Taamir Mortgage Company to market mortgage loans in Egypt
Ahli United Bank B.S.C., one of the Gulf's leading financial services institutions, today announced the launch of their new partnership with Taamir Mortgage Company, Egypt's first mortgage company, and a pioneer in the field of home financing. (Sun, 23 Jul 2006 12:59:15 GMT)

IFC to support Russia’s first securitization of residential mortgage loans
IFC provided two types of credit enhancement to support Russia’s first securitization of residential mortgage loans, which was successfully completed by Vneshtorgbank, Russia’s second largest bank. (Sun, 23 Jul 2006 15:20:53 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Sun, 23 Jul 2006 23:14:57 GMT)

Five Ways to Play the Housing Slump
A survey of experts uncovers ways you can invest in real estate—or, at least, keep an eye on it—in preparation for the inevitable rebound (Mon, 24 Jul 2006 03:10:47 GMT)

Rating your mortgage lender
NEW YORK (MarketWatch) -- How do you annoy and irritate a homeowner? Sell their mortgage to a third (or fourth) party or outsource your customer service. That's according to a new survey by J.D. Power and Associates, which asked 13,000 homeowners what they like and don't like about their lenders' service. (Mon, 24 Jul 2006 04:02:41 GMT)

Zimmerlink questions procedures in awarding contract, signing mortgage
Calling the process used by her fellow Fayette County commissioners to approve a roofing contract for the fire school building and co-sign a mortgage for the county fair board "questionable," Commission Chairwoman Angela M. Zimmerlink said simply getting two signatures "isn't a proper, up front way to conduct business." (Mon, 24 Jul 2006 04:15:07 GMT)

Movers: Loan demand in India bolsters bank's profit
ICICI Bank, the biggest consumer lender in India, said that first-quarter profit rose a higher- than-expected 17 percent because of increased demand for loans. (Mon, 24 Jul 2006 04:27:28 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. (Mon, 24 Jul 2006 04:49:27 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Mon, 24 Jul 2006 04:50:18 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Mon, 24 Jul 2006 04:50:58 GMT)

AUB, TMC mortgage tie-up
Bahrain's Ahli United Bank will pre-qualify mortgage applicants wanting to buy Egyptian property under a tie-up with Egypt's Taamir Mortgage Company, the Bahrain Tribune reported. AUB will also promote and market TMC's line of loans for the purchase, construction and renovation of property in Egypt. (Mon, 24 Jul 2006 05:14:19 GMT)

Ohio home buyers shouldn't hold breath waiting for 50-year mortgage
The thought of taking 30 years to pay off your home loan is sobering. Imagine tacking on another 20 years. (Mon, 24 Jul 2006 05:19:01 GMT)

The Motley Fool: Is it smart to pay "points" on a mortgage?
ASK THE FOOL Mortgage points Q: Is it smart to pay "points" on a mortgage? -BYTAG- R.L., A: It depends on how long you expect to be in the house. First off, understand that a point is 1 percent of the mortgage loan. On a $200,000 loan, one point would be $2,000. There are "origination" and "discount" points. (Mon, 24 Jul 2006 05:51:06 GMT)

Gardai: Criminals using mortgage fraud
Criminals are using mortgage fraud through unscrupulous agents and brokers to launder large amounts of drug money, Gardai have said. The criminals have used rogue financial brokers to establish a false earnings and savings history for the individual in whose name the house is to be bought. (Mon, 24 Jul 2006 06:44:24 GMT)

Refinancing still makes sense for many ON FINANCE Jeff Brown
THIS BIT OF DATA arrived via e-mail from the Mortgage Bankers Association: Despite the upward drift in mortgage rates, refinancings continue to account for more than a third of all new mortgage applications. (Mon, 24 Jul 2006 07:09:35 GMT)

Home Loan Refinancing Executive Offers Tips to Avoid Getting Ripped Off, Even with Low Credit Scores
Miles Masters, Executive Vice President of Advantix Lending, Inc. offers his advice on KTLA-WB Morning News to people interested in refinancing a home loan, but struggling with a bad credit score. (PRWEB Jul 24, 2006) Trackback URL: http://www.prweb.com/chachingpr.php/SG9yci1QaWdnLUhhbGYtSGFsZi1JbnNlLVplcm8= (Mon, 24 Jul 2006 07:33:59 GMT)

Top loan officer sees challenges for lenders
Last year, for the fifth straight year, Sarasotan Penny Hill was named the No. 1 loan officer for Chase in the United States. (Mon, 24 Jul 2006 08:37:11 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Mon, 24 Jul 2006 09:29:54 GMT)

Crespo: I want to go home
Football: Chelsea striker Hernan Crespo is desperate to return to Italy despite the efforts of Roman Abramovich to keep him at Stamford Bridge. The Argentina international still has a home near Milan, and is prepared to take a cut in wages to return to Serie A (Mon, 24 Jul 2006 10:58:48 GMT)

Biggest Mortgage Bankers - Production News From MortgageDaily.com
Two California lenders share the title of biggest residential mortgage banker in the country, according to a preliminary analysis of second quarter earnings data by MortgageDaily.com, the dominant source of online mortgage news. (Mon, 24 Jul 2006 11:00:00 GMT)

1st American Mortgage Improves Direct Sales With inContact From UCN
UCN, Inc. , a provider of on-demand contact handling software and business telecommunication services delivered over the UCN national VoIP network, announced today that 1st American Mortgage, Inc., a Fairfax, Virginia-based lender, selected inContact as its contact handling technology to support its direct response marketing initiatives. (Mon, 24 Jul 2006 11:00:00 GMT)

Yale Mortgage Outsources Back-Office Fulfillment Operations to Guardian Mortgage Services to Meet Current Demand and
LAKEWOOD, Colo.----July 24, 2006--Yale Mortgage Corp., the nation's largest hard equity lender, has selected Guardian Mortgage Services' outsource solution to bolster its backroom operations. (Mon, 24 Jul 2006 12:00:00 GMT)

Vestin Realty Mortgage II, Inc. Announces Sale of Lakeview Apartments
LAS VEGAS----July 24, 2006--Vestin Realty Mortgage II, Inc. announced today that escrow has closed on an all-cash sale of the 504 unit Lakeview apartment complex in Austin, Texas owned by the Company's wholly owned subsidiary TRS II, Inc. (Mon, 24 Jul 2006 12:00:00 GMT)

Home Loan Refinancing Executive Offers Tips to Avoid Getting Ripped Off, Even with Low Credit Scores
Irvine, CA (PRWEB) July 24, 2006 -- The last several years have seen interest rates hit all time lows and real estate values steadily soar. (Mon, 24 Jul 2006 12:00:00 GMT)

TowerGroup: US Mortgage Industry Leading the Way in Reducing Labor Costs Through Offshoring
U.S. mortgage lenders are leading the way in the financial services industry, in terms of levering offshoring to reduce labor costs. (Mon, 24 Jul 2006 13:53:00 GMT)

M&A, Earnings May Boost Stocks
HCA agreed to a $21.3 billion buyout bid, while Advanced Micro Devices struck a $5.4 billion deal for a Canadian chipmaker. Also in focus: Merck, Schering-Plough (Mon, 24 Jul 2006 14:10:47 GMT)

1st American Mortgage Improves Direct Sales With inContact From UCN
UCN, Inc. (BULLETIN BOARD: UCNN) , a provider of on-demand contact handling software and business telecommunication services delivered over the UCN national VoIP network, announced today that 1st American Mortgage, Inc., a Fairfax, Virginia-based lender, selected inContact(TM) as its contact handling technology to support its direct response marketing initiatives. (Mon, 24 Jul 2006 14:56:22 GMT)

Biggest Mortgage Bankers - Production News From MortgageDaily.com
Two California lenders share the title of biggest residential mortgage banker in the country, according to a preliminary analysis of second quarter earnings data by MortgageDaily.com, the dominant source of online mortgage news. (Mon, 24 Jul 2006 14:56:42 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Mon, 24 Jul 2006 15:29:30 GMT)

• Rising Fraud Connected to Increasing Mortgage Interest Rates
Sometimes the victim is a retired senior strong-armed into signing papers under the misconception that he is being granted a reverse mortgage. (Mon, 24 Jul 2006 15:37:57 GMT)

The Death of Long-Term Investing
With so much information about stocks and companies available instantly, many investors are trigger-happy (Mon, 24 Jul 2006 16:40:47 GMT)

Confused by all the Mortgage Options? Here's Help
(ARA) - Fixed rate. Adjustable rate. Interest Only. Flex. All of the different types of home loans that are available these days can puzzle many homebuyers. But, say mortgage experts, virtually every home loan is one of two types: a fixed rate loan or an adjustable rate loan. (Mon, 24 Jul 2006 17:04:42 GMT)

Refinancing at higher mortgage rates can make sense
This bit of data arrived via e-mail from the Mortgage Bankers Association: Despite the upward drift in mortgage rates, refinancings continue to account for more than a third of all new mortgage applications. (Mon, 24 Jul 2006 18:04:00 GMT)

Global Energy Announces Further Expansion of Its Mortgage Warehouse Lending Agreements
Global Energy Resources Inc., a Delaware Corporation, announced today it has expanded its mortgage services as the result of an agreement entered into between GERI's Financial Division and Team Fox Mortgage Corporation of Woodland Hills, California. (Mon, 24 Jul 2006 19:07:00 GMT)

'E-mortgages' on the way
There's a quiet revolution going on in the mortgage industry: Home buyers soon will be securing mortgages and closing on sales almost as easily and conveniently as they purchase an airline ticket online. (Mon, 24 Jul 2006 19:13:17 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Mon, 24 Jul 2006 19:15:43 GMT)

Florida to get $6.2M from Federal Home Loan Bank
Federal Home Loan Bank of Atlanta will award more than $23 million in grants to 12 states, including Florida, and the District of Columbia to fund single-family and multi-family housing projects. (Mon, 24 Jul 2006 19:30:17 GMT)

New issue for homeowners: Inflated appraisals
As the housing market cools, Americans are confronting a problem that was easy to ignore during the boom: Inflated appraisals of home values. (Mon, 24 Jul 2006 19:35:59 GMT)

Florida to get $6.2M from Federal Home Loan Bank
Federal Home Loan Bank of Atlanta is to award more than $23 million in grants to 12 states, including Florida, and Washington, D.C., to fund single-family and multi-family housing projects. (Mon, 24 Jul 2006 20:26:14 GMT)

• Michigan Acts to Protect Refinancing Homeowners
With little fanfare, the state this month more than doubled the number of examiners employed in the Office of Financial and Insurance Services employees to go after people trying to steal your home. (Mon, 24 Jul 2006 20:37:57 GMT)

Considering a Home Remodel? Make Sure It Will Pay Off
(ARA) - If your family has to wait in line to take a shower, or if you're storing pots and pans in the laundry room due to lack of cabinet space, it could be time to consider a home remodeling project. (Mon, 24 Jul 2006 20:59:13 GMT)

FSA Demands Improvement From Lifetime Mortgage Advisers
Firms need to do more to improve the quality of their advice on lifetime mortgages, according to the Financial Services Authority . A second review of the mortgage market carried out by the U.K. regulator—designed to check progress since a similar exercise at the start of 2005—comprised of 75 secret visits to 23 firms. (Mon, 24 Jul 2006 21:02:24 GMT)

Kukui Gardens seeks to prepay HUD mortgage
The owner of the Kukui Gardens affordable rental complex near Chinatown said today that it will seek to prepay its mortgage with the federal Department of Housing and Urban Development. (Mon, 24 Jul 2006 23:08:39 GMT)

Global Energy Announces Further Expansion of Its Mortgage Warehouse Lending Agreements
Global Energy Resources Inc. (PINKSHEETS: GERI), a Delaware Corporation, announced today it has expanded its mortgageservices as the result of an agreement entered into between GERI'sFinancial Division and Team Fox Mortgage Corporation of Woodland Hills,California. Team Fox's warehouse lending capability will add over $1million a day to GERI's mortgage lending services. (Mon, 24 Jul 2006 23:42:13 GMT)

Help for home buyers
If you are in the market for a new house, the Calcasieu Parish Public Trust Authority may be able to help you secure a low interest loan and even pay four percent of your loan amount in closing costs. (Mon, 24 Jul 2006 23:55:39 GMT)

Leaders celebrate 90 years of Federal Farm Loan Act
The Federal Farm Loan Act has been helping farmers and their families for 90 years. Leaders came together Monday at the Woodrow Wilson family home to celebrate the signing of the act. (Tue, 25 Jul 2006 00:21:04 GMT)

How to buy a profitable house or condo
I overheard a young lady tell her breakfast date at the coffee shop I like to visit on Saturday mornings "I can't believe the mortgage company approved me to buy a condo in such bad shape." (Tue, 25 Jul 2006 02:36:00 GMT)

Pros and cons of a 'no doc' mortgage refinance
DEAR BOB: There are a lot of average attorneys, but you are brilliant. But now I desperately need your valued opinion. I am retired (age 66) on Social Security disability with an 814 FICO score. My house is worth $950,000 and I owe $160,000 at $952 per month payment. I have an unused $75,000 home equity credit line. I am married so we can claim up to $500,000 tax-free profits if we sell. Property (Tue, 25 Jul 2006 02:36:30 GMT)

S.A. may miss out on home loan aid
San Antonio's first-time home buyers are missing out on millions of dollars in state assistance, and those millions are going fast. (Tue, 25 Jul 2006 03:08:36 GMT)

Superior Energy: Well-Positioned
This oilfield services outfit's growth prospects“and valuation—are attractive, says S&P, which rates the stock strong buy (Tue, 25 Jul 2006 03:31:38 GMT)

Europe's Buybacks? No Earnings Nirvana
S&P's Clive McDonnell tells why companies' stock buybacks haven't boosted share earnings and offers some advice for investors (Tue, 25 Jul 2006 03:31:49 GMT)

Ask the Fool Mortgage Points
Q: Is it smart to pay "points" on a mortgage? - R.L., Aspen, Colo.A: It depends on how long you expect to be in the house. First off, understand that a point is 1 percent of the mortgage loan. On a $200,000 loan, one point would be $2,000. There are "origination" and "discount" points. (Tue, 25 Jul 2006 07:36:55 GMT)

LIC Housing to hike loan rates
New Delhi: Immediately after Reserve Bank hiked key short term interest rates by 0.25 per cent today, LIC Housing Finance announced that it will raise home loan rates. (Tue, 25 Jul 2006 08:37:59 GMT)

LIC Housing to hike loan rates
LIC Housing Finance has said that it would raise interest on home loans, while ICICI Bank hinted at increasing home, auto and other consumer loan rates. (Tue, 25 Jul 2006 08:38:27 GMT)

LIC Housing to hike loan rates
Immediately after Reserve Bank hiked key short-term interest rates by 0.25 per cent on Tuesday, LIC Housing Finance announced that it will raise home loan rates. (Tue, 25 Jul 2006 09:02:52 GMT)

Thornburg Mortgage "sector perform," target price reduced
NEW YORK, July 25 (newratings.com) - Analysts at RBC Capital Markets reiterate their "sector perform" rating on Thornburg Mortgage Inc ( TMA.NYS ), while reducing their estimates for the company. The target price has been reduced from $26 to $24. (Tue, 25 Jul 2006 09:02:57 GMT)

Mortgage of the Week
Northern Rock is offering a year fixed rate deal until 1 August 2008, at a rate of 4.79 per cent, reverting to the standard variable rate for the remaining term of the mortgage, currently 6.59 per cent. (Tue, 25 Jul 2006 09:57:22 GMT)

Mortgage Trust launches BTL product
Mortgage Trust has launched a two-year stepped fixed rate buy-to-let (BTL) product. (Tue, 25 Jul 2006 09:58:42 GMT)

LICHF to raise home loan rates, PNB, OBC hint loan rate hike
Leading lenders like LIC Housing Finance, Punjab National Bank and Oriental Bank of Commerce have hinted at hiking interest rates across the board, including on home loans, following Reserve Bank's decision to raise key short term rates today. (Tue, 25 Jul 2006 10:07:13 GMT)

New HK mortgage loan approvals fall 6.4 pct in June
HONG KONG, July 25 (Reuters) - New mortgage loans approved in Hong Kong in June fell 6.4 percent to HK12.9 billion (US$1.7 billion) from May, the Hong Kong Monetary Authority said on Tuesday. (Tue, 25 Jul 2006 10:16:03 GMT)

LICHF to raise home loan rates, PNB, OBC hint loan rate hike
New Delhi: Leading lenders like LIC Housing Finance, Punjab National Bank and Oriental Bank of Commerce have hinted at hiking interest rates across the board, including on home loans, following Reserve Bank's decision to raise key short term rates today. (Tue, 25 Jul 2006 10:38:27 GMT)

When Debt Mounts, Take Action to Prevent Foreclosure
(ARA) - If you have experienced foreclosure, you're not alone. Within the last five years alone, more than 2.9 million households in the United States have experienced foreclosure. (Tue, 25 Jul 2006 10:56:43 GMT)

When Debt Mounts, Take Action to Prevent Foreclosure
(ARA) - If you have experienced foreclosure, you're not alone. Within the last five years alone, more than 2.9 million households in the United States have experienced foreclosure. (Tue, 25 Jul 2006 10:57:13 GMT)

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