Mortgage News Sep 2006

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Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Tue, 19 Sep 2006 01:45:35 GMT)

Ulster police payout for journalist after raid on home
The Police Service of Northern Ireland has agreed to pay substantial damages to a journalist whose home was raided after the publication of confidential political conversations between Sinn Féin and British government officials. (Tue, 19 Sep 2006 02:10:40 GMT)

Supporters help women s center burn its mortgage
Supporters of the Women’s Choice Center in Bettendorf jubilantly celebrated paying off the mortgage earlier than anticipated with a mortgage burning and luncheon Sunday. (Tue, 19 Sep 2006 05:17:10 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, 19 Sep 2006 06:22:30 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. (Tue, 19 Sep 2006 06:44:16 GMT)

New Column at Mortgage Lenders Plus.com Says Housing Market Changes, Stalled Pricing Can Still Bring Profit
The housing market is changing, with home sales slowing and prices stable or falling across the country. Mortgage Lenders Plus.com now features a new article to address whether it is still possible to make money with homes and property. (Tue, 19 Sep 2006 07:00:00 GMT)

New Column at Mortgage Lenders Plus.com Says Housing Market Changes, Stalled Pricing Can Still Bring Profit
San Diego, CA (PRWEB) September 19, 2006 -- The housing market is changing, with home sales slowing and prices stable or falling across the country. (Tue, 19 Sep 2006 07:00:00 GMT)

Prepay Mortgage Or Beef Up 401(k)?
If you've read this column for a while, you know I've often urged readers to think about making extra mortgage principal payments. This can dramatically cut the amount of interest you pay over the life of the loan and allow you to pay it off years early. (Tue, 19 Sep 2006 07:25:02 GMT)

New Column at Mortgage Lenders Plus.com Says Housing Market Changes, Stalled Pricing Can Still Bring Profit
According to Mortgage Lenders Plus.com, despite housing market changes – stabilizing, even falling home prices in some local markets – there are still profits to be made in the new real estate era. A syndicated columnist and author, Peter G. Miller’s latest column for the Web explains strategies to consider in a slowing market. (PRWEB Sep 19, 2006) Trackback URL: (Tue, 19 Sep 2006 07:54:43 GMT)

Ameriprise opens bank to offer clients home loans
Ameriprise Financial Inc. has opened a banking unit to offer clients mortgages and home-equity loans. Ameriprise Bank FSB will provide loans through the brokerage's 10,000 financial advisers and offer bank accounts through a Web site, the company said Monday. Minneapolis-based Ameriprise had delivered banking services over the telephone and online through parent American Express Co. until its (Tue, 19 Sep 2006 08:11:17 GMT)

RAK Properties ties with NBAD to offer home finance for premier projects
RAK Properties, the leading real estate developer in the emirate of Ras Al Khaimah, has signed a MoU with UAE number one bank National Bank of Abu Dhabi (NBAD) that will enable customers of RAK Properties to avail of the NBAD's 'Escan' home financing facility. (Tue, 19 Sep 2006 08:59:09 GMT)

Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Tue, 19 Sep 2006 09:41:14 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, 19 Sep 2006 09:41:54 GMT)

Bathon says rival defaulted on loan that was later repaid
Madison County Treasurer Fred Bathon distributed court documents Monday showing that his election opponent defaulted on a home loan in the early 1990s. (Tue, 19 Sep 2006 10:30:39 GMT)

Auto Refinancing Puts Gas Money in Your Pocket
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars. (Tue, 19 Sep 2006 10:56:43 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Tue, 19 Sep 2006 10:57:13 GMT)

Equity Inns Closes $50 Million Mortgage Debt Offering
GERMANTOWN, Tenn.----Sept. 19, 2006--Equity Inns, Inc. , the third largest hotel real estate investment trust , today announced that the Company has completed a $50 million offering of Senior Mortgage Debt. (Tue, 19 Sep 2006 11:00:00 GMT)

Alabama Native Elected Chairman of National Mortgage Registry
COLORADO SPRINGS, Colo.----Sept. 19, 2006--The Board of Directors of MERS, the national database and registry of residential and commercial loans in the United States, elected Alabama native and mortgage industry leader John Johnson as Chairman. (Tue, 19 Sep 2006 11:00:00 GMT)

Mortgage Trust enhances MT Select range
Mortgage Trust has enhanced its MT Select range. (Tue, 19 Sep 2006 11:13:23 GMT)

Tynan's loan deal at Bulls is cut short
GOALKEEPER Scott Tynan has returned to Rushden & Diamonds just a week into the second month of his loan spell with Hereford United. (Tue, 19 Sep 2006 12:03:37 GMT)

More Than One in Five Mortgage Requests From HouseValues Sites Secure a Loan Within One Year, According to Real IQ
Real IQ, an independent national market research firm, has found that 22 percent of consumers who submitted mortgage loan requests from HouseValues sites subsequently secured a mortgage within 12 months of their request. (Tue, 19 Sep 2006 12:20:00 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Tue, 19 Sep 2006 13:19:31 GMT)

Six Situations When a Home Equity Loan is Prudent
Used sensibly, home equity loans let homeowners draw on their greatest asset to achieve greater financial stability. The key: Evaluate thoroughly the terms and risks of a second mortgage to decide if it is right for you. (Tue, 19 Sep 2006 15:31:37 GMT)

Excelon's PECO to Sell $300M Bonds
PECO, the electric and gas utility unit of Excelon Corp., said Tuesday it agreed to sell $300 million of first mortgage bonds maturing on Oct. 1, 2036 with a coupon of 5.95 percent. (Tue, 19 Sep 2006 16:07:20 GMT)

Equity Inns completes $50M mortgage debt offering
Equity Inns Inc. announced that it has completed a $50 million offering of senior mortgage debt, using nine hotel properties as collateral for the loan. (Tue, 19 Sep 2006 16:07:33 GMT)

Should you leverage your home or pay it down rapidly?
There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and prepaying principal? (Tue, 19 Sep 2006 16:17:39 GMT)

Auto Refinancing Puts Gas Money in Your Pocket
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars. (Tue, 19 Sep 2006 16:58:18 GMT)

SierraOaks Mortgage Gets the Message: Launches ARMs Control Campaign
SACRAMENTO, Calif.----Sept. 19, 2006--SierraOaks Mortgage: Controversy Rages: Were Adjustable Rate Mortgage Loan Borrowers Asleep at the Switch or as Astute as Any Chief Financial Officer? (Tue, 19 Sep 2006 17:15:00 GMT)

Do home builders have a hangover?
Home builders have plenty of reason to be depressed these days. The inventory of unsold homes is at a record, home prices are falling in many areas, and buyers are continuing to cancel contracts out of fear they may fall even further. (Tue, 19 Sep 2006 18:03:09 GMT)

Freedom Mortgage gets bigger fast with acquisition
Freedom Mortgage Corp. said Tuesday it has bought Irwin Mortgage Corp.'s loan-origination platform in a move that will quadruple Freedom's annual sales to $12 billion from $3 billion. (Tue, 19 Sep 2006 18:21:06 GMT)

Personal Finance Daily -- Sept. 19
One of the key pieces to any housing transaction, and one that by and large remains a mystery to borrowers, is the appraisal. If you're getting a mortgage, your lender is going to require you to pay for an appraisal of the property you're financing, the idea being that someone other than you is assuring the bank that the property is worth what you are ponying up, or asking for in refinancing. (Tue, 19 Sep 2006 18:23:56 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. (Tue, 19 Sep 2006 18:43:16 GMT)

Fitch Affirms 10 & Upgrades 2 RMBS Classes from 2 GS Mortgage Securities Corp. Issues
NEW YORK----Sept. 19, 2006--Fitch Ratings has taken rating actions on various Goldman Sachs Mortgage Securities Corp issues listed below: (Tue, 19 Sep 2006 19:00:00 GMT)

Loan, grant boost Dallas Rural Water District expansion
HAMILTON, Ill. - The Dallas Rural Water District recently was awarded a $1.3 million low-interest federal loan and $837,000 grant to assist in an ongoing water expansion project in Southwest Hancock County, Ill. The interest on the 40-year loan is 4.5 percent. (Tue, 19 Sep 2006 19:01:13 GMT)

Study: Dallas at low risk for home-price slide
The chances of a U.S. home price slide are increasing, according to the latest industry measure. But Dallas and other Texas cities are among the least affected, the study shows. (Tue, 19 Sep 2006 19:33:37 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, 19 Sep 2006 19:40:38 GMT)

SASCO's $598.3MM Reverse Mortgage Loan Trust, 2006-RM1, Rated By Fitch
NEW YORK----Sept. 19, 2006--Structured Asset Securities Corporation Reverse Mortgage Loan Trust, series 2006-RM1, is rated by Fitch as follows: $490,000,000 class A-IO, and class A1 notes 'AAA'; $83,300,000 class M-1 'AA'; and $25,030,291 class M-1 'A'. (Tue, 19 Sep 2006 19:45:00 GMT)

MFA Mortgage Investments, Inc. to Participate in the RBC Capital Markets Financial Institutions Conference
NEW YORK, Sept. 19 /PRNewswire-FirstCall/ -- MFA Mortgage Investments, Inc. announced today that it is scheduled to participate in a panel discussion at the RBC Capital Markets Financial Institutions Conference 2006 in Boston, Massachusetts on September 21, 2006 at 10:40 a.m. (Daylight Savings Time). An audio broadcast of the panel discussion will be available online at (Tue, 19 Sep 2006 20:06:05 GMT)

HSBC cuts mortgage brokers
Hong Kong and Shanghai Banking Corporation is laying off staff after deciding to no longer use mortgage brokers. Twenty staff will lose their jobs when the HSBC closes its broker division at the end of September, saving millions of dollars it pays out in commission to them. (Tue, 19 Sep 2006 20:09:33 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. (Tue, 19 Sep 2006 20:17:14 GMT)

HSBC cuts mortgage brokers
Hong Kong and Shanghai Banking Corporation is laying off staff after deciding to no longer use mortgage brokers. Twenty staff will lose their jobs when the HSBC closes its broker division at the end of September, saving millions of dollars it pays out in commission to them. (Tue, 19 Sep 2006 20:23:12 GMT)

Pros and cons of private mortgage insurance
It's almost impossible to listen to the radio or read a newspaper without encountering an ad for low- or no-down-payment home loans. If you are considering buying a house or condominium, or refinancing your current home, it pays to understand the pros and cons of these high loan-to-value ratio mortgages. (Tue, 19 Sep 2006 20:24:25 GMT)

'Hard' and 'soft' mortgage prepayment penalties
DEAR BOB: When we refinanced our home, we told the mortgage broker we didn't want a prepayment penalty because we planned to sell within a year or so. But at the mortgage closing, there was a prepayment penalty in the documents. The mortgage broker assured us the prepayment penalty wouldn't apply unless we refinanced. He said this was a "soft prepayment penalty." So we signed. However, now that (Tue, 19 Sep 2006 20:38:04 GMT)

Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Tue, 19 Sep 2006 21:30:49 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Tue, 19 Sep 2006 22:06:59 GMT)

Study: Dallas at low risk for home-price slide
The chances of a U.S. home price slide are increasing, according to the latest industry measure. But Dallas and other Texas cities are among the least affected, the study shows. (Tue, 19 Sep 2006 22:07:26 GMT)

48-hour mortgage deal is quickest ever
BRITAIN'S fastest-ever mortgage deal has been recorded on a house in Scotland as home-buyers rush to take advantage of a new breed of "instant" loans. (Wed, 20 Sep 2006 00:26:31 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, 20 Sep 2006 00:59:46 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, 20 Sep 2006 01:58:43 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. (Wed, 20 Sep 2006 01:59:13 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. (Wed, 20 Sep 2006 01:59:54 GMT)

Nonprofit makes hope and hard work the key to a new home
Pete Churton/The Enterprise Vickie Dagley, middle, and her mother, Mildred Dagley, right, check out the property where they will be building a home through a program administered by Self Help Housing of East Texas Thursday in Newton. (Wed, 20 Sep 2006 04:02:16 GMT)

Home buyers face long battle to recoup money from shuttered Turner-Dunn
Home buyers hopeful to recoup their earnest money from shuttered home builder Turner-Dunn have found themselves at the back of a long and frustrating line. (Wed, 20 Sep 2006 05:54:49 GMT)

Confessions of an Ex-Mortgage Lender
The Durham (N.C.)-based nonprofit Center for Responsible Lending estimated in July, 2001, that predatory mortgage lending is currently costing Americans more than $9.1 billion each year. (Wed, 20 Sep 2006 07:08:42 GMT)

Mortgage lending surges
LONDON (Reuters) - Underlying net mortgage lending rose by a record amount in August, British Bankers' Association data shows, in another sign the surprise rate hike last month has not deterred house buyers. (Wed, 20 Sep 2006 09:08:00 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. (Wed, 20 Sep 2006 09:08:40 GMT)

Broker snap: Optimism for mortgage lenders
LONDON (SHARECAST) - The banking sector came into focus after ING started coverage on mortgage lenders arguing that the home loan market should maintain double digit growth. (Wed, 20 Sep 2006 09:52:40 GMT)

Getting out of an option ARM
You might not be able to get a better loan if you try to refinance, says Dr. Don. (Wed, 20 Sep 2006 10:00:00 GMT)

Median home prices in reduction mode
The median price of an Orange County home fell for a second straight month. Some sellers have reacted by getting aggressive about pricing, while other, unmotivated homeowners have opted out of the market. (Wed, 20 Sep 2006 10:13:35 GMT)

Record rise in mortgage lending
LONDON (Reuters) - Underlying mortgage lending rose by a record amount in August, British Bankers' Association data showed on Wednesday, in another sign the Bank of England's surprise rate hike last month has not deterred house buyers. (Wed, 20 Sep 2006 10:19:45 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? (Wed, 20 Sep 2006 10:31:20 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Wed, 20 Sep 2006 10:56:53 GMT)

Mortgage lending jumps in August
Mortgage lending hits another record in August, according to figures published by the Council of Mortgage Lenders. (Wed, 20 Sep 2006 11:01:11 GMT)

Mortgage lending hits new high
Ever-increasing house prices and growing demand for property in early summer push mortgage lending to further record high. (Wed, 20 Sep 2006 11:07:53 GMT)

Refinancing activity soars to eight-month high
WASHINGTON (MarketWatch) -- The number of applications for loans to refinance existing mortgages increased last week to the highest level since early February, the Mortgage Bankers Association reported Wednesday. (Wed, 20 Sep 2006 11:08:56 GMT)

Mortgage lending hits new high
Ever-increasing house prices and a growing demand for property in the early summer months helped push mortgage lending to a further record high today. (Wed, 20 Sep 2006 11:42:18 GMT)

U.S. MBA's Mortgage Applications Index Increased 2% Last Week
Sept. 20 (Bloomberg) -- Mortgage applications in the U.S. increased last week to the highest level since April as borrowing costs close to a five-month low spurred refinancing. (Wed, 20 Sep 2006 12:02:40 GMT)

Fighting foreclosures
RALEIGH - Trying to halt record numbers of home foreclosures, legislators want to make public the names of mortgage brokers, appraisers and other professionals connected to each mortgage loan. (Wed, 20 Sep 2006 12:04:31 GMT)

Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Wed, 20 Sep 2006 12:20:35 GMT)

Gulf & Pacific Equities Corp. Announces $8 Million Mortgage Refinancing of Valley Centre Mall in Whitecourt, Alberta
TORONTO, ONTARIO-- - Gulf & Pacific Equities Corp. is pleased to announce that it has completed an $8 million mortgage refinancing with Capmark Canada Limited for the Corporation's Valley Centre Mall in Whitecourt, Alberta. (Wed, 20 Sep 2006 12:30:24 GMT)

Mortgage lending hits another record
Mortgage lending reached a new record in August underlining the strength of the housing market, despite recent rises in interest rates. (Wed, 20 Sep 2006 12:31:35 GMT)

Czech PPF's Home Credit issues CZK 3 bln of floating rate bonds
PRAGUE. SEPTEMBER 20. INTERFAX CENTRAL EUROPE - Czech financial group PPF's Home Credit, one of the top hire-purchase firms on the Czech market, issued Czech crown-denominated floating rate bonds totaling CZK 3 bln with a nominal value of CZK 1 mln, the company announced Wednesday. (Wed, 20 Sep 2006 12:36:01 GMT)

US mortgage applications rise again
US mortgage applications climbed last week, the third increase in a row, hitting their highest level since April as more homeowners refinanced following a recent cut in borrowing costs. (Wed, 20 Sep 2006 13:40:27 GMT)

Should you leverage your home or pay it down rapidly?
There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and prepaying principal? (Wed, 20 Sep 2006 14:02:48 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. Refinancing your (Wed, 20 Sep 2006 14:20:49 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Wed, 20 Sep 2006 15:42:35 GMT)

Home Financing Offers
With LendingTree, certified lenders compete for your loan. Find the lowest mortgage rates from top lenders. Reduce your monthly mortgage payment or access money from your home today! (Wed, 20 Sep 2006 16:11:51 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Wed, 20 Sep 2006 16:40:03 GMT)

Half of homeowners' wages swallowed by mortgage repayments
More than half of homeowners' take-home pay is swallowed up by their mortgage repayments, a shocking study revealed yesterday. Millions of homeowners are being crippled by 'enormous pressure' from huge home loans which have doubled in just four years. (Wed, 20 Sep 2006 17:29:50 GMT)

New York Mortgage Trust downgraded to "market perform"
NEW YORK, September 20 (newratings.com) - Analysts at Friedman Billings downgrade New York Mortgage Trust Inc ( NKZ.BER ) from "outperform" to "market perform." The target price is set to $4. (Wed, 20 Sep 2006 18:33:07 GMT)

Mortgage lending in UK soars to new high
Rising house prices and a boom in demand during the early summer pushed mortgage lending in the UK to another record high today. (Wed, 20 Sep 2006 19:02:15 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. (Wed, 20 Sep 2006 19:08:32 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 20 Sep 2006 19:47:10 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. (Wed, 20 Sep 2006 21:16:04 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 20 Sep 2006 21:16:34 GMT)

The Mystery of the Mortgage Process
Okay twentysomethings, this year I am seriously preparing to buy a house or condo, which ever is the better value for my buck. And guess what? I’m taking you all on the journey with me. I know I'm not the only one looking to buy a home, someday. So this issue we will be learning about mortgages. (Wed, 20 Sep 2006 21:33:50 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. (Wed, 20 Sep 2006 22:14:20 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Wed, 20 Sep 2006 22:15:21 GMT)

Nursing Home Owners Indicted with Negligent Homicide, Cruelty
CHALMETTE, La. (AP) _ The owners of a nursing home where 35 patients died when Hurricane Katrina hit southeastern Louisiana were indicted today on charges of negligent homicide and cruelty to the infirm. (Wed, 20 Sep 2006 23:55:39 GMT)

Marina Sanctuary gets RM50mil loan for resort
KUALA LUMPUR: Marina Sanctuary Resort Sdn Bhd has secured a RM50mil loan from Bank Pembangunan Malaysia Bhd to develop its RM750mil waterfront resort - Marina Island Pangkor - in Lumut, Perak. (Thu, 21 Sep 2006 00:18:03 GMT)

Mortgage loans at new record despite rate rise
Mortgage lending soared to a new record last month despite the rate rise on August 3. (Thu, 21 Sep 2006 00:23:43 GMT)

Mortgage bills swallow one third of average Scots wage
MORTGAGE repayments account for one third of monthly income in Scotland, according to figures which illustrate the widening "affordability gap". (Thu, 21 Sep 2006 00:42:13 GMT)

N Home Equity Loan 5.99 Our low fixed rate is a sensible way to borrow. % APR
N Home Equity Loan 5.99 Our low fixed rate is a sensible way to borrow. % APR LEVEL HEADED Introducing the Annual Percentage Rate as of September 1, 2006 for a 60-month term. Equity determined by taking 80% of property value and deducting balance of any mortgages. (Thu, 21 Sep 2006 02:47:02 GMT)

Housing boom sees mortgage lending hit another record high
Rising house prices and a boom in demand during the early summer pushed mortgage lending to another record high yesterday. (Thu, 21 Sep 2006 03:21:44 GMT)

Get cheaper home loans at 'clearance sales'
Lower home loan rates are now easier to attain, all you have to do is buy into the clearance sales that builders are holding, reports CNBC-TV18. (Thu, 21 Sep 2006 04:18:51 GMT)

LI home seller offers to pay mortgage for buyer
John Giamarino wants to pay your mortgage. (Thu, 21 Sep 2006 04:33:13 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. (Thu, 21 Sep 2006 04:50:01 GMT)

RAK Properties ties with NBAD to offer home finance for premier projects
RAK Properties, the leading real estate developer in the emirate of Ras Al Khaimah, has signed a MoU with UAE number one bank National Bank of Abu Dhabi (NBAD) that will enable customers of RAK Properties to avail of the NBAD’s ‘Escan’ home financing facility. (Thu, 21 Sep 2006 05:59:48 GMT)

More Bakersfield Real Estate Owners Refinance With Pay Option Home Mortgage (ARM) Loans
Use of Pay Option ARM loans to refinance in Bakersfield on the increase. Home owners value the increased cash flow. (PRWEB Sep 21, 2006) (Thu, 21 Sep 2006 07:04:57 GMT)

Avista Solutions Selected by Axiom Mortgage Bankers Corporation to Implement Web-Based Loan Origination and Product and
Avista Solutions, a leading mortgage software provider, has been selected by Axiom Mortgage Bankers Corporation to implement the Avista Accelerator™ Loan Origination System and Avista Advantage™ Product & Pricing Engine. (PRWEB Sep 21, 2006) (Thu, 21 Sep 2006 07:10:43 GMT)

Merit Funding Launches Interest Only California Mortgage Option Loans for Residential Purchase or Refinance Loans
Merit Funding, Inc of California is providing residential mortgage borrowers with a new flexible payment interest only mortgage program. Each month, a borrower has the option to make an interest only payment or a fully amortized payment on their California mortgage loan. The flexible payment program has several options available from short term adjustable rate to 30 year fixed rate notes. The (Thu, 21 Sep 2006 07:37:05 GMT)

Mortgage loans at new record of £32.7bn despite rate rise
Mortgage lending soared to a new record last month despite the rate rise on August 3, it emerged yesterday. Homebuyers and remortgagers seemed undeterred by the 0.25% rise in the Bank of England base rate, borrowing £32.7bn last month. (Thu, 21 Sep 2006 08:30:07 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. (Thu, 21 Sep 2006 09:29:26 GMT)

Mortgage rate flat on Fed day
The investors who are key to the direction of mortgage rates were digesting what the Fed said, so mortgage rates were flat or slightly up in Bankrate's weekly survey. (Thu, 21 Sep 2006 10:00:00 GMT)

Mortgage forecloses on rise across U.S., but Fla. had minimal increase
WASHINGTON · Mortgage foreclosures climbed in the spring as higher interest rates and energy prices made monthly payments harder for some homeowners. But new foreclosures aren't rising at an alarming clip in Florida. (Thu, 21 Sep 2006 10:06:58 GMT)

Mortgage rates are likely to stay low, experts say
Mortgage rates are staying put, some experts say. They say mortgage rates will remain at current low levels for the rest of the year. These prognosticators point to the Federal Reserve, which left a key short-term interest rate unchanged Wednesday. (Thu, 21 Sep 2006 10:18:00 GMT)

Bankrate: Mortgage Rates and Fed Both Hold Steady
Mortgage rates were unchanged, holding at six-month lows, as the Federal Open Market Committee wrapped up a regularly scheduled meeting on monetary policy. The average 30- year fixed mortgage rate remains 6.44 percent, the lowest since March 29. (Thu, 21 Sep 2006 11:30:00 GMT)

PrintDepartment.com and Gooder Group to Produce Newsletters for Real Estate and Mortgage Pros
CARLSBAD, Calif.----Sept. 21, 2006--PrintDepartment.com, a leading web-based, on demand print and mail marketing company and Gooder Group, the nation's premier publisher of lead-generating marketing tools for the real estate and mortgage industries, have teamed up to produce turn-key, printed newsletters for their business professionals. (Thu, 21 Sep 2006 11:50:00 GMT)

Merit Funding Launches Interest Only California Mortgage Option Loans for Residential Purchase or Refinance Loans
(PRWEB) September 21, 2006 -- Borrowers do not need perfect credit to qualify for this type of loan. (Thu, 21 Sep 2006 12:00:00 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. (Thu, 21 Sep 2006 14:41:55 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? (Thu, 21 Sep 2006 14:58:07 GMT)

Sen. Nelson, Veterans, Lenders Applaud Freddie Mac Effort to Boost Military Home Buying Power Up to 30 Percent
Freddie Mac today announced it is expanding its Home Possible affordable mortgage suite to boost the home buying power of nearly 1.5 million U.S. military personnel in response to calls from Senator Ben Nelson of the Senate Armed Services Committee, the Hispanic War Veterans of America and different lenders to help more military families becomes homeowners. (Thu, 21 Sep 2006 15:00:00 GMT)

Don't raid your 401(k) to pay off mortgage
Gail MarksJarvis -- On the Money Iam a 58-year-old male, and might be losing my job soon. I don't think I will be able to get another decent job, and my wife makes only $19,800 at her full-time job. I will be able to get health insurance through my wife's employer. We owe $117,000 on our home, and I'm thinking of removing $170,000 from my 401(k) to pay off the mortgage and cover the 401(k) (Thu, 21 Sep 2006 15:48:22 GMT)

Adjustable mortgage may bring nasty news
Eileen Ambrose -- Personal Finance Homeowners who were lured to so-called option ARMs during the big housing run-up by promises of extra-low monthly payments or 1 percent interest could soon face an ugly reality: mortgage payments that could more than double. (Thu, 21 Sep 2006 15:48:25 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Thu, 21 Sep 2006 16:04:21 GMT)

U.S. mortgage rates ease as Fed stands pat
CHICAGO (MarketWatch) -- U.S. mortgage rates edged lower this week as the Federal Reserve held interest rates steady for a second straight meeting. The 30-year fixed-rate mortgage dropped to a national average 6.40% from 6.43% a week ago, Freddie Mac said in its weekly rate survey Thursday. (Thu, 21 Sep 2006 16:09:06 GMT)

How to get better mortgage refinance deal
In simple terms a refinanced mortgage is one where a borrower repays a previous loan by taking a new one. The main motive behind refinance mortgage is to get a lower interest rate, lowering their payments or to take cash out of their home equity. (Thu, 21 Sep 2006 16:23:27 GMT)

• Refinancing goes up while mortgage rates level
Mortgage rates stayed static as the bond market awaited Wednesday's meeting of the Federal Reserve's rate-setting committee. Everyone assumed correctly that the Fed would leave rates alone. That kept rates from moving much. (Thu, 21 Sep 2006 16:23:35 GMT)

Refinancing goes up while mortgage rates level
Mortgage rates stayed static as the bond market awaited Wednesday's meeting of the Federal Reserve's rate-setting committee. Everyone assumed correctly that the Fed would leave rates alone. That kept rates from moving much. (Thu, 21 Sep 2006 16:24:01 GMT)

US regulators warn new mortgage products may harm borrowers
WASHINGTON - In hot housing markets, banks have offered borrowers a way to take the sting out of big payments in the early years of the loan with innovative mortgage products. (Thu, 21 Sep 2006 17:08:19 GMT)

Slowing economy keeps mortgage rates in check
A slowdown in the housing market isn't all bad news. Federal Reserve policymakers this week cited the housing slump as one of the reasons economic growth is moderating, which keeps inflation in check -- and mortgage rates too. (Thu, 21 Sep 2006 17:10:16 GMT)

Slowing economy keeps mortgage rates in check
A slowdown in the housing market isn't all bad news. Federal Reserve policy-makers this week cited the housing slump as one of the reasons economic growth is moderating, which keeps inflation in check - and mortgage rates too. (Thu, 21 Sep 2006 17:51:06 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. (Thu, 21 Sep 2006 18:27:15 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Thu, 21 Sep 2006 19:32:08 GMT)

Mortgage rates down again
Rates on 30-year mortgages fell this week to the lowest level in six months, offering support to the sagging home market.Mortgage giant Freddie (Thu, 21 Sep 2006 19:56:08 GMT)

Cairns Lockie Mortgage Commentary 22 September 06
Welcome to the seventeenth fortnightly Cairns Lockie Mortgage Commentary for 2006. We aim to keep you informed on developments at Cairns Lockie, Mortgage Bankers and the mortgage market in general. (Thu, 21 Sep 2006 23:05:25 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? (Thu, 21 Sep 2006 23:26:20 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. (Thu, 21 Sep 2006 23:26:39 GMT)

CANNEX releases mortgage star ratings report today
Now more than ever, shopping around will deliver major savings in the crowded home loan market. CANNEX’s review over 400 mortgages is the most comprehensive source of mortgage product insights. (Fri, 22 Sep 2006 01:50:05 GMT)

Mortgage Holder Speaks on Mayor's Indictment
WLBT spoke with Minnie Rhodes, the woman who holds the mortgage on the house at Ridgeway Street at the center of the controversy leading up to the indictment of Mayor Frank Melton. (Fri, 22 Sep 2006 02:19:29 GMT)

Metro mortgage lenders stay upbeat
If you are a mortgage lender, you are almost by definition an optimist. And in the optimists' view, the housing market is slowing — not crashing — as it decelerates to a saner, less frantic normality. "We feel like things are stabilized," said Charles Richardson, senior vice president of Market Street Mortgage, a Florida firm with offices in Atlanta. (Fri, 22 Sep 2006 03:03:38 GMT)

Pros and cons of private mortgage insurance
It's almost impossible to listen to the radio or read a newspaper without encountering an ad for low- or no-down-payment home loans. If you are considering buying a house or condominium, or refinancing your current home, it pays to understand the pros and cons of these high loan-to-value ratio mortgages. (Fri, 22 Sep 2006 03:39:23 GMT)

'Hard' and 'soft' mortgage prepayment penalties
DEAR BOB: When we refinanced our home, we told the mortgage broker we didn't want a prepayment penalty because we planned to sell within a year or so. But at the mortgage closing, there was a prepayment penalty in the documents. The mortgage broker assured us the prepayment penalty wouldn't apply unless we refinanced. He said this was a "soft prepayment penalty." So we signed. However, now that (Fri, 22 Sep 2006 03:39:43 GMT)

Tax rules on refinanced loan can be tricky
Q: We purchased our home three years ago and refinanced our mortgage for the first time in July. We know we can write off the monthly mortgage-interest payments on the new loan, but what about the $2,700 in upfront “points” we paid to take the mortgage out? (Fri, 22 Sep 2006 05:00:20 GMT)

La. panel backs home-loan plan
The state Bond Commission gave preliminary approval Thursday for the new Finance Authority of St. Tammany Parish to issue up to $125 million in tax-exempt bonds for a low-interest home loan program. (Fri, 22 Sep 2006 06:48:56 GMT)

30-year mortgage rates at 6-month low
Rates on 30-year mortgages fell this week to the lowest level in six months, offering support to the sagging home market. Mortgage firm Freddie Mac said yesterday that 30-year, fixed-rate mortgages dipped to 6.40 percent from 6.43 percent last week. (Fri, 22 Sep 2006 07:10:04 GMT)

Club hooks mortgage for fish lake
A Cornish freshwater fishing club takes out a mortgage to help raise £100,000 to buy lakes where its members fish. (Fri, 22 Sep 2006 08:06:52 GMT)

PNB cuts home loan rate by 0.25%
Punjab National bank (PNB) today announced a 0.25% cut on interest rates for home and car loans w.e.f tomorrow. (Fri, 22 Sep 2006 08:25:16 GMT)

PNB cuts car, home loan rates
The Punjab National bank on Friday announced 0.25 per cent cut on interest rates for home and car loans, effective from Saturday, September 23. (Fri, 22 Sep 2006 08:48:31 GMT)

Builders, mortgage banks spooked by U.S. growth fears
LONDON (MarketWatch) -- Shares of U.K. homebuilders and mortgage banks fared poorly in London trading on Friday as investors picked up on growth fears from the U.S. (Fri, 22 Sep 2006 09:23:57 GMT)

Mortgage rates dropping
Local home mortgage rates have dropped to their lowest level in nearly six months, something real estate executives are hoping will recharge the region's sagging home market. (Fri, 22 Sep 2006 09:24:55 GMT)

PNB announces 0.25 pc cut on home, car loan rates
New Delhi, Sep 22: Punjab National Bank today announced a 0.25 per cent cut on floating home and car loan rates for the festival season with effect from tomorrow. (Fri, 22 Sep 2006 09:30:42 GMT)

Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Fri, 22 Sep 2006 09:45:23 GMT)

Invest or pay off the mortgage?
Measure your after-tax return against the after-tax cost of your mortgage, says Dr. Don. (Fri, 22 Sep 2006 10:00:00 GMT)

Mortgage rates hit lowest level in six months
Rates on 30-year mortgages fell this week to the lowest level in six months, offering support to the sagging home market. Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages dipped to 6.40 percent this week, down from 6.43 percent last week. (Fri, 22 Sep 2006 10:24:14 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Fri, 22 Sep 2006 10:25:22 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. (Fri, 22 Sep 2006 10:31:07 GMT)

Invest or pay off the mortgage?
Dear Dr. Don, Is it a good idea to liquidate our mutual fund investments, excluding 401(k) money, if it is used to pay off my home mortgage? I would then invest the money I would have used for mortgage payments every month? (Fri, 22 Sep 2006 11:34:34 GMT)

PNB announces 0.25 pc cut on home, car loan rates
State-owned Punjab National Bank (PNB) on Friday announced a 0.25 per cent cut on floating home and car loan rates for the festival season with effect from September 23. (Fri, 22 Sep 2006 12:10:26 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Fri, 22 Sep 2006 13:20:02 GMT)

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