Mortgage News Oct 2006

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Lenders go on offense
It might be time to consider refinancing your home loans. Is it time to refinance? That's a question a number of homeowners are asking these days, with mortgage rates at seven-month lows. (Mon, 16 Oct 2006 04:57:00 GMT)

SUPES CONSIDER HEADWATERS LOAN
Willow Creek Community Services District is counting on the county to approve a Headwaters Fund loan to help bring its water treatment system into compliance with state regulations. (Mon, 16 Oct 2006 05:01:04 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. (Mon, 16 Oct 2006 05:05:42 GMT)

SC residents see increase in home foreclosures
(Columbia, S.C.-AP) October 15, 2006 - In the past four years in South Carolina, the percentage of home foreclosures and late loan payments has been significantly higher than in the rest of the nation, according to the Mortgage Bankers Association. (Mon, 16 Oct 2006 08:33:48 GMT)

Mortgage law socks home sales
The South Side neighborhoods affected by a controversial mortgage law designed to protect would-be homeowners from being gouged have seen a 45 percent drop in home sales in the law's first month. (Mon, 16 Oct 2006 09:20:07 GMT)

Mortgage of the week
The Halifax is offering a fixed rate deal until 31 December 2008, at a rate of 4.79 per cent, reverting to the standard variable rate for the remaining term of the mortgage, currently 6.75 per cent. (Mon, 16 Oct 2006 09:45:09 GMT)

Mortgage rate, savings rate linked
When you make extra principal payments on your mortgage you are, in effect, getting the same "interest" on those amounts that you're paying on your mortgage. (Mon, 16 Oct 2006 10:00:00 GMT)

Heritage Oaks Bancorp Earns $1.7 Million in Third Quarter, With Excellent Loan Growth and Expanding Net Interest Margin
Heritage Oaks Bancorp , the parent company of Heritage Oaks Bank, today reported third quarter profits fueled by exceptional loan growth and an expanding net interest margin. For the third quarter of 2006, net income was $1.7 million, or $0.27 per diluted share, compared to $1.8 million, or $0.28 per diluted share, in the third quarter of 2005. (Mon, 16 Oct 2006 10:30:00 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. (Mon, 16 Oct 2006 10:34:45 GMT)

Mortgage Industry Insider - Weekly Insight From MortgageDaily.com
State actions topped the latest mortgage news from MortgageDaily.com, the dominant source of online news for the mortgage industry. (Mon, 16 Oct 2006 11:00:00 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. (Mon, 16 Oct 2006 11:06:14 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. (Mon, 16 Oct 2006 11:07:14 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Mon, 16 Oct 2006 11:45:57 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, 16 Oct 2006 11:46:07 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Mon, 16 Oct 2006 12:21:05 GMT)

Home Loan Financial Corporation announces dividend
COSHOCTON - The Board of Directors of Home Loan Financial Corporation declared a cash dividend in the amount of $0.20 per common share. The dividend is payable Friday, Nov. 10, to shareholders of record as of Friday, Oct. 27. (Mon, 16 Oct 2006 12:55:31 GMT)

Barclays hires Nomura's Frank in mortgage strategy
NEW YORK, Oct 16 (Reuters) - Barclays Capital, the investment banking unit of Barclays Plc, hired Arthur Frank from Nomura Securities International Inc. as a mortgage strategist after the Japanese firm exited the business. (Mon, 16 Oct 2006 13:40:11 GMT)

Stupid home loan tricks
Question: I cashed in my investments to raise a 25% down payment to buy a house. I'm thinking of taking out a home equity line of credit, borrowing against it and then investing the loan proceeds. I figure this would be a good way to rebuild my investment portfolio. What do you think? - James (Mon, 16 Oct 2006 14:25:27 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? (Mon, 16 Oct 2006 14:30:02 GMT)

Mortgage Financier Names New CFO
Mortgage finance giant Freddie Mac, emerging from a multibillion-dollar accounting scandal, said Monday it has named a new chief financial officer, nearly a year after its finance chief resigned. (Mon, 16 Oct 2006 15:31:02 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, 16 Oct 2006 16:19:24 GMT)

OCC Chief: Loan Terms Still Falling As Risks Keep Rising
PHOENIX -(Dow Jones)- Comptroller of the Currency John Dugan on Monday warned of major credit risks facing the banking industry, with lenders continuing to soften loan terms for retail and commercial credits at a time when both sectors appear increasingly dicey. (Mon, 16 Oct 2006 16:19:47 GMT)

Extendicare U.S. Subsidiary EHSI Completes US$500 Million Mortgage Loan and US$120 Million Senior Secured Revolving
Extendicare Inc.(TSX: EXE)(NYSE: EXE.A) announced today that its wholly owned U.S. subsidiary, Extendicare Health Services, Inc., has completed an initial US$500.0 million mortgage loan financing and entered into a new US$120.0 million senior secured revolving credit facility. (Mon, 16 Oct 2006 17:19:00 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. (Mon, 16 Oct 2006 17:31:39 GMT)

*Extendicare Health Services Completes Initial US$500 Mln Mortgage Loan Financing; Enters US$120 Mln Credit Facility
(RTTNews) - Extendicare Health Services (EXE-A) completes initial US$500 mln mortgage loan financing; enters US$120 mln credit facility. (Mon, 16 Oct 2006 17:37:05 GMT)

Thornburg Mortgage Reports 3Q EPS of $0.64
SANTA FE, N.M.----Thornburg Mortgage, Inc. 3Q mortgage originations of $1.4 billion, up 10% year-over-year Quarterly dividend maintained at $0.68 Total assets increase to $52.9 billion; a 34% increase over prior year Strong credit underscored by 0.06% 60-day plus delinquent loans (Mon, 16 Oct 2006 19:30:00 GMT)

CoreLogic and VisionCore Announce Next Generation Mortgage Suite
SACRAMENTO, Calif.----Irvine Calif.- based VisionCore, a wholly owned business unit of CoreLogic, the leading provider of mortgage risk assessment and fraud prevention solutions, has announced the launch of its next generation mortgage suite. (Mon, 16 Oct 2006 19:30:00 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. (Mon, 16 Oct 2006 19:33:41 GMT)

AmericasBank Corp. Increases Loan Loss Allowance in Third Quarter 2006
TOWSON, Md.----AmericasBank Corp. , the parent company of AmericasBank, today announced it took a provision for loan and lease losses of $470,000 in its quarter ending September 30, 2006. (Mon, 16 Oct 2006 20:30:00 GMT)

Thornburg Mortgage 3Q Profit Up
Mortgage lender Thornburg Mortgage Inc. said Monday that its third-quarter profit rose slightly on a jump in net non-interest income. (Mon, 16 Oct 2006 20:52:37 GMT)

LMP Corporate Loan Fund Inc. as of September 30, 2006
NEW YORK----LMP Corporate Loan Fund Inc., formerly known as Citigroup Investments Corporate Loan Fund Inc., announces its portfolio composition as of September 30, 2006. (Mon, 16 Oct 2006 21:00:00 GMT)

Extendicare U.S. Subsidiary EHSI Completes US$500 Million Mortgage Loan and US$120 Million Senior Secured Revolving
Extendicare Inc. (TSX: EXE.A)(TSX: EXE)(NYSE: EXE.A) announced today that its wholly owned U.S. subsidiary, Extendicare Health Services, Inc. (EHSI), has completed an initial US$500.0 million mortgage loan financing and entered into a new US$120.0 million senior secured revolving credit facility. (Mon, 16 Oct 2006 21:16:22 GMT)

Mavent Completes 15 Millionth Loan Compliance Review
IRVINE, Calif.----Mavent Inc., a leading provider of automated compliance solutions for the financial services industry, announced today the completion of its 15 millionth loan compliance review. (Mon, 16 Oct 2006 21:24:00 GMT)

Refinancing 101
Whether you are looking to reduce your rate, shorten your loan term to 20, 15, or 10 years, or borrow extra money for home improvements, refinancing may be right for you. (Mon, 16 Oct 2006 22:26:53 GMT)

Maguire Properties Completes Refinancing of 777 Tower and Repayment of Term Loan
LOS ANGELES----Maguire Properties, Inc. , a Southern California focused real estate investment trust, today announced that it has completed a new $273.0 million, 7-year, interest only financing at a fixed rate of 5.84% for the Company's 777 Tower property in Downtown Los Angeles. (Mon, 16 Oct 2006 23:37:00 GMT)

Home Mortgage Refinancing: Are Falling Mortgage Rates Enough to Help Buyers Stretch?
Low mortgage rates were a big factor driving the housing boom of the past few years and their climb was expected to play a big role in the market's undoing. But now rates are sliding again - is it time to breathe a sigh of relief? (Tue, 17 Oct 2006 00:00:34 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, 17 Oct 2006 00:22:08 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, 17 Oct 2006 00:23:29 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, 17 Oct 2006 00:23:59 GMT)

Partnership to offer help for home buyers
Milwaukee is the target of a new $620,000 public-private venture to help first-time home buyers make better-informed decisions. (Tue, 17 Oct 2006 02:04:19 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. (Tue, 17 Oct 2006 02:39:45 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Tue, 17 Oct 2006 02:42:25 GMT)

LandAmerica's eZNetClose(SM) Offers Mortgage Lenders and Borrowers Remote E-Signings for Online Closings
LandAmerica Financial Group, Inc. , a leading provider of real estate transaction services, announces that its LandAmerica OneStop(R) subsidiary has introduced LandAmerica's eZNetClose. LandAmerica's eZNetClose is an internet-based remote closing solution for mortgage lenders and borrowers, and the first in the mortgage industry to offer the convenience of remote electronic signings supported by (Tue, 17 Oct 2006 03:01:02 GMT)

Effort to halt spread of payday loan stores fails
A 4-3 vote by the City Council at Monday's meeting defeated an ordinance, championed for weeks by Vice Mayor Claudia Walters, which would have prohibited the high-interest loan operations from building within 1,200 of one another. (Tue, 17 Oct 2006 04:33:39 GMT)

Loan may tide builder over in bankruptcy
Kara Homes, one of New Jersey's largest home builders, has lined up a $5 million high-interest loan that, if approved by a judge, would enable it to continue operations during bankruptcy proceedings. (Tue, 17 Oct 2006 04:59:09 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, 17 Oct 2006 05:58:34 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, 17 Oct 2006 05:59:55 GMT)

New NIB mortgage to shake up market?
National Irish Bank has launched a new mortgage product which it claims will bring substantial savings to thousands of home owners. The product, called the LTV (loan to value) Mortgage, links the interest rate to the value of the property. (Tue, 17 Oct 2006 06:51:34 GMT)

*UK Sept. RPI Excld. Mortgage Interest Payments Up 3.2 On Year Vs. 3.3% In August
(RTTNews) - UK Sept. RPI excld. Mortgage interest payments up 3.2 on year vs. 3.3% in August (Tue, 17 Oct 2006 08:50:57 GMT)

Reverse mortgages a flexible way to access home equity
In the last several years most homeowners have realized that their home equity is growing larger, and they want to consider ways to utilize their real estate equity as part of their financial resources for retirement and estate planning. Of course, homeowners could sell their homes and use fewer resources for housing, borrow against their home with mortgage loans or consider a relatively new (Tue, 17 Oct 2006 09:11:46 GMT)

Mortgage Brain first to verify Edeus
Mortgage Brain has signed up edeus products to its sourcing, POS and compliance system. The 22,000 intermediaries using Mortgage Brain will now be able to access edeus' product range of 150 products. (Tue, 17 Oct 2006 09:58:14 GMT)

Welsh Loan Deal Complete
Andy Welsh has joined Leicester on a loan deal until the end of the year. The Left Winger, who joined the Foxes on loan at the end of last season, has returned to the Walkers Stadium until January. The deal could be made permanent depending on the sitaution at the end of the loan period. (Tue, 17 Oct 2006 10:07:18 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, 17 Oct 2006 10:14:30 GMT)

edeus live on Mortgage Brain
Over 22,000 intermediaries using Mortgage Brain now have instant access to edeus’ specialist product range, which currently features over 150 products, including those for the non-conforming, buy-to-let, adverse and self-cert markets. (Tue, 17 Oct 2006 10:15:39 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, 17 Oct 2006 10:15:41 GMT)

Toledo firm to be denied mortgage brokerage OK
The Ohio division of financial institutions has notified McCaskey Financial Services, Toledo, that it intends to deny the firm's application to operate as a mortgage brokerage. (Tue, 17 Oct 2006 10:31:45 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Tue, 17 Oct 2006 10:34:11 GMT)

National City Profit Increased 15% on Sale of Loans (Update1)
Oct. 17 (Bloomberg) -- National City Corp., which is cutting its reliance on home loans as it pushes deeper into Florida, said profit rose for the first time in four quarters, helped by the sale of its mortgage loans. (Tue, 17 Oct 2006 10:57:34 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. (Tue, 17 Oct 2006 11:06:12 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, 17 Oct 2006 11:07:50 GMT)

NIB launches Loan to Value mortgages
National Irish Bank today introduced its new LTV (Loan to Value) mortgage pricing model, directly linking the interest rate to the value of the property. (Tue, 17 Oct 2006 11:20:44 GMT)

Guilty plea entered in mortgage case
Loretta Joy Champ, who was indicted in January on federal charges in connection with a mortgage fraud scheme, pleaded guilty Monday in U.S. District Court, according to information from U.S. Attorney Dunn Lampton. (Tue, 17 Oct 2006 11:37:33 GMT)

Bad Credit Refinance
If you want to reduce your interest, eliminate PMI, reduce monthly payments, get cash out or go for a adjustable rate mortgage, you have to consider a bad credit refinance. (Tue, 17 Oct 2006 11:48:47 GMT)

St James\'s Place loses 99 mortgage sales specialists to HoC
The company said the move would have no impact on its 2006 profits, as the outgoing staff specialise in mortgage-related sales, and accounted for just 1.2 pct of group revenues in the first half of this year. (Tue, 17 Oct 2006 12:01:33 GMT)

St James's transfers mortgage sales advisers
St James's Place drifted back from yesterday's five year high as it said 99 sales advisers have joined specialist mortgage network Home of Choice Group (HoC). (Tue, 17 Oct 2006 12:25:06 GMT)

SC residents see increase in home foreclosures
(Columbia, S.C.-AP) October 15, 2006 - In the past four years in South Carolina, the percentage of home foreclosures and late loan payments has been significantly higher than in the rest of the nation, according to the Mortgage Bankers Association. (Tue, 17 Oct 2006 13:05:26 GMT)

smile Launches Two New Fixed and Tracker Mortgage Products
Internet bank, smile, today (17 October 2006) launches two new fixed rate and tracker rate mortgage products. (Tue, 17 Oct 2006 13:30:26 GMT)

Mesa Rejects Restrictions On Payday Loan Stores
MESA, Ariz. -- The Mesa City Council voted down a measure Monday that would have prohibited payday loan stores from locating within roughly a quarter mile of an existing loan store. (Tue, 17 Oct 2006 13:50:21 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Tue, 17 Oct 2006 14:18:39 GMT)

XL Dynamics and i-flex Join Hands for an Outsourcing Deal with a Major US Mortgage Bank
XL Dynamics India Pvt. Ltd., leading provider of Mortgage Loan processing and origination software and Equinox (an i-flex company), global leader in mortgage process outsourcing have bagged an outsourcing contract from one of the major Mortgage banks in the US. (Tue, 17 Oct 2006 14:57:53 GMT)

Crewe look to sign loan midfielder.
Crewe boss is hoping to bring in a midfielder on loan before Saturday's game against Blackpool. (Tue, 17 Oct 2006 15:05:43 GMT)

XL Dynamics and Equinox report US mortgage outsourcing deal
XL Dynamics India Pvt. Ltd., leading provider of Mortgage Loan processing and origination software and Equinox (an i-flex company), global leader in mortgage process outsourcing have bagged ... (Tue, 17 Oct 2006 16:00:58 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, 17 Oct 2006 16:26:46 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, 17 Oct 2006 16:27:07 GMT)

Fed's Bies: Mortgage Credit Outlook Still Favorable
WASHINGTON -(Dow Jones)- Federal Reserve Governor Susan Bies said Tuesday the outlook for U.S. mortgage credit quality remains favorable, although "modestly cautionary signs" are on the horizon, and delinquencies of subprime mortgages have ticked up. (Tue, 17 Oct 2006 18:04:58 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. (Tue, 17 Oct 2006 19:38:29 GMT)

Nationstar Mortgage Expands Its Retail Operations with New Call Center in Cincinnati
CINCINNATI----Approximately eighty new sales jobs will be available to Cincinnati residents when Nationstar Mortgage LLC, which already employs more than 2,200 employees nationwide, opens a new centralized call center in October. (Tue, 17 Oct 2006 19:44:00 GMT)

ditech.com Offers Free Year of Mortgage Payments in $25,000 ditech.com Sweepstakes
MINNEAPOLIS----ditech.com, one of the nation's most well-known direct mortgage lenders, is offering homeowners the opportunity to win a year's worth of mortgage payments in its 2006 ditech.com Home Mortgage Sweepstakes. (Tue, 17 Oct 2006 20:00:00 GMT)

Loan growth drives record earnings for Wells
Wells Fargo & Co.'s solid loan growth, outside of home mortgages, helped fuel record earnings in the third quarter. (Tue, 17 Oct 2006 20:08:45 GMT)

Loan growth drives record earnings for Wells
Wells Fargo & Co.'s solid loan growth, outside of home mortgages, helped fuel record earnings in the third quarter. (Tue, 17 Oct 2006 20:08:45 GMT)

Blacksmith Shop burns mortgage The Blacksmith Shop Museum made a little history of its own last Tuesday by burning its
The Blacksmith Shop Museum made a little history of its own last Tuesday by burning its mortgage early, leaving the facility debt-free. The Alan Calkins family helped make this possible with a donation to the Lacombe and District Historical Society. (Tue, 17 Oct 2006 20:36:24 GMT)

State investigating Moses Lake mortgage broker
MOSES LAKE -- The state's Department of Financial Institutions is investigating a Moses Lake mortgage broker for potential violation of the Mortgage Broker Practices Act of Washington. (Tue, 17 Oct 2006 21:53:48 GMT)

Home-Equity Loan Delinquencies Increase, Moody's Says (Update1)
Oct. 17 (Bloomberg) -- Late payments on U.S. subprime mortgages and home-equity loans that have been turned into securities rose in July at the fastest pace since 1998, Moody's Investors Service said. (Tue, 17 Oct 2006 23:01:31 GMT)

Maguire Properties Completes $273M Refinance
Maguire Properties Inc., completed a new $273 million, seven-year, interest only financing at a fixed rate of 5.84 percent for the company's 777 Tower property in downtown Los Angeles. It will use the proceeds and cash on hand to pay off a $450 million term loan. (Tue, 17 Oct 2006 23:05:16 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, 17 Oct 2006 23:59:24 GMT)

• Home Mortgage Essentials: Is the Bi-Weekly Mortgage for Real or Just Another Scam?
Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your payments? With email "spam" becoming more pervasive as everyone tries to "get rich quick" on the Internet, these ads are popping up with troublesome regularity. (Wed, 18 Oct 2006 02:45:10 GMT)

Home Mortgage Essentials: Is the Bi-Weekly Mortgage for Real or Just Another Scam?
Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your payments? With email "spam" becoming more pervasive as everyone tries to "get rich quick" on the Internet, these ads are popping up with troublesome regularity. (Wed, 18 Oct 2006 02:45:29 GMT)

Fixed mortgage rates push past 8pc barrier
Two-year and longer fixed-term mortgage rates are going up again, in expectation that the Reserve Bank will lift official interest rates next week. (Wed, 18 Oct 2006 03:26:53 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Wed, 18 Oct 2006 03:40:45 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Wed, 18 Oct 2006 03:41:15 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, 18 Oct 2006 03:42:05 GMT)

General Finance Releases No Financials Home Loan
General Finance Limited announced today an extension of its popular No Financials Home Loan or Low Documentation Loan (Lo Doc) to include loan to value ratios of up to 85%. This is a significant enhancement to its existing No Financials product. (Wed, 18 Oct 2006 04:32:57 GMT)

Lowered mortgage rates boosted the building permits – it can be a real surprise
The data is due at 8.30 AM. The market expects 1715K from prior month’s 1727K. The building permit data closely inversely correlates (nonlinear) the acceleration of mortgage rate rise or fall over time with a little lag. According to that model the building permits will come much stronger. (Wed, 18 Oct 2006 04:59:59 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. (Wed, 18 Oct 2006 06:01:42 GMT)

Is Now the Time to Refinance?
Bills.com suggests pros, cons of refinancing in today's bumpy market. (PRWeb Oct 18, 2006) (Wed, 18 Oct 2006 07:16:24 GMT)

HSBC again at the forefront with the new Interest Only Home Loan
In its endeavor to launch products which meet the needs of particular customers, HSBC Bank Malta p.l.c. has taken another innovative step and has now introduced the Interest Only Home Loan - a new type of home loan to the Maltese property market. (Wed, 18 Oct 2006 07:31:12 GMT)

St James's Place set to axe 99 mortgage staff
Ros Snowdon Deputy City Editor WEALTH manager St James's Place is to cut nearly 100 mortgage advisers from its sales force in order to focus on its core wealth management business. (18/10/2006 08:31:26) (Wed, 18 Oct 2006 07:44:52 GMT)

Compare Your Loans Breaks the Mold
Launch of New Website is a Breakthrough for the Consumer. Compare Your Loans is a company with the sole purpose of serving the consumer. Our entire reason for existence is to provide the consumer the best, most current, and free loan; mortgage; refinance; student loan consolidation; home equity loan; and credit information so consumers get the best deals for themselves. (PRWeb Oct 18, 2006) (Wed, 18 Oct 2006 07:56:29 GMT)

Look into paying extra on mortgage
Is paying extra on your mortgage a good investment strategy? It depends on a number of factors, including your mortgage's interest rate and how much you could earn from your money if you invest it elsewhere. (Wed, 18 Oct 2006 10:16:08 GMT)

One mln mortgage loans will be provide in Russia by 2010
MOSCOW. Oct 18 (Interfax) - There will be one million mortgage loans provided in Russia by 2010 totaling around 425 billion rubles, Regional Development Minister Vladimir Yakovlev said at a Wednesday conference on reforming the housing and utilities sector. (Wed, 18 Oct 2006 11:05:21 GMT)

Data show lower weekly mortgage applications as rates rise
WASHINGTON (MarketWatch) -- The volume of mortgage applications from major U.S. banks fell by a seasonally adjusted 2.2% last week as mortgage rates inched higher, the Mortgage Bankers Association reported Wednesday. (Wed, 18 Oct 2006 11:13:24 GMT)

Mortgage Loan Application Volume Declines
(RTTNews) - Industry data released Wednesday showed that fewer mortgage loan applications were filed last week compared with a week earlier. This occurred as a decline in refinancing activity more than offset a slight improvement in purchase activity. (Wed, 18 Oct 2006 11:34:58 GMT)

Comparing HELOCs and home equity loans
Dear Dr. Don, What is the difference between a home equity loan and a home equity line of credit? -- Willie Wonders Dear Willie, A home equity loan has a fixed interest rate, monthly loan payments sized to pay off the loan over its term, also known as a self-amortized loan, and you receive the entire loan amount as a lump sum when you close on the loan. (Wed, 18 Oct 2006 11:38:16 GMT)

Mortgage Builder Software Comes to the Rescue of Second Federal Savings & Loan
SOUTHFIELD, Mich.----Mortgage Builder Software, Inc., a leading provider of end-to-end mortgage banking software solutions, has announced the installation of its loan origination technology at Second Federal Savings & Loan in Cicero, Ill. (Wed, 18 Oct 2006 12:01:00 GMT)

Maybank to focus on home loans business, beef up its consumer banking
SINGAPORE : Maybank says it wants to grow its home loan business in Singapore. This was announced on Wednesday during a news briefing to introduce its new Singapore country head - Pollie Sim. (Wed, 18 Oct 2006 12:49:49 GMT)

Mortgage applications fall as rates rise
Applications for home mortgages fell last week, pulled down by a drop in refinancings as interest rates rose for the third straight week, an industry group's data showed Wednesday. (Wed, 18 Oct 2006 12:59:20 GMT)

Home loan applications fall as rates extend rise
Applications for U.S. home mortgages fell last week, pulled down by a drop in refinancings as interest rates rose for the third straight week, an industry group's data showed on Wednesday. (Wed, 18 Oct 2006 13:31:23 GMT)

Mortgage applications ease 2.2%
U.S. mortgage applications fell last week on a drop in refinancing activity as interest rates ticked higher, an industry trade group said Wednesday. (Wed, 18 Oct 2006 13:40:38 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Wed, 18 Oct 2006 13:49:24 GMT)

Banking Regulators Issue Exotic Mortgage Info Booklet
WASHINGTON -(Dow Jones)- Federal banking supervisors issued an information booklet Wednesday aimed at helping consumers navigate the universe of exotic mortgage products, such as interest-only loans. (Wed, 18 Oct 2006 14:19:47 GMT)

BER joins reverse mortgage market
Competition for the $150 million reverse mortgage market is heating up with the arrival of Australian company Bluestone Equity Release. (Wed, 18 Oct 2006 16:20:19 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, 18 Oct 2006 16:54:02 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, 18 Oct 2006 17:00:24 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, 18 Oct 2006 17:01:40 GMT)

New mortgage service opens in Newport
Advance Mortgage USA, Inc. is now open in Newport under the ownership of Wendy Ezell. (Wed, 18 Oct 2006 18:17:45 GMT)

California Home-Loan Defaults Rise to 4 1/2-Year High (Update1)
Oct. 18 (Bloomberg) -- California home-loan defaults rose to their highest level in four and a half years in the third quarter as lower sales of houses and condominiums and slowing price gains made it harder for homeowners to sell and pay off mortgages. (Wed, 18 Oct 2006 18:57:31 GMT)

Mortgage Bankers Association chair joins Calif. firm
Regina Lowrie, chairman of the national Mortgage Bankers Association and co-founder of one of the Philadelphia area's largest mortgage lenders, said Wednesday she has joined The Prieston Group, a Novato, Calif.-based mortgage-fraud- insurance, training and loss-mitigation provider, as a principal. (Wed, 18 Oct 2006 19:07:25 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. (Wed, 18 Oct 2006 19:39:05 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, 18 Oct 2006 19:51:25 GMT)

Merrimac Completes Credit Facility Refinancing
Merrimac Industries, Inc. , today announced the refinancing of its existing revolving credit, term loan, mortgage and letter of credit facility with a new North Fork Bank facility. (Wed, 18 Oct 2006 20:18:00 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. (Wed, 18 Oct 2006 21:45:11 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. (Wed, 18 Oct 2006 22:03:28 GMT)

Mortgage lender blames technology after it empties borrowers' accounts
THOUSANDS of homeowners have empty bank accounts after HBOS, Britain's biggest mortgage lender, repeatedly withdrew home loan repayments from their current accounts.... (Wed, 18 Oct 2006 22:31:50 GMT)

Texas Capital Bank sells home mortgage lending division
Texas Capital Bank on Wednesday said it has sold its residential mortgage lending division to Transnational Financial Network Inc. in an all-stock deal. (Wed, 18 Oct 2006 23:10:16 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. (Thu, 19 Oct 2006 00:25:46 GMT)

Merrimac Completes Credit Facility Refinancing
Merrimac Industries, Inc. , today announced the refinancing of its existing revolving credit, term loan, mortgage and letter of credit facility with a new North Fork Bank facility. The refunding, which replaces a similar facility with another lender, represents a two-year revolving credit and letter of credit facility, five-year term loan and ten-year mortgage, aggregating $10,000,000. The new (Thu, 19 Oct 2006 00:44:38 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. (Thu, 19 Oct 2006 01:20:02 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. (Thu, 19 Oct 2006 01:20:33 GMT)

Equity stalls, foreclosures are rising
DEBT: Lack of appreciation makes it harder for homeowners to refinance their way out of trouble. (Thu, 19 Oct 2006 02:33:13 GMT)

Crackdown on mortgage ads
The Colorado attorney general's office will subpoena at least 10 area mortgage brokers and companies during the next few weeks in an investigation of possibly deceptive advertising practices, a prosecutor in the office said. (Thu, 19 Oct 2006 04:55:28 GMT)

New Internet Mortgage Provider Hits $100M in 3 Months
New Internet Mortgage Provider Hits $100M in 3 Months.Proof Australians are adopting Internet trend and saving $1000s. (PRWeb Oct 19, 2006) (Thu, 19 Oct 2006 07:18:21 GMT)

Loan-shark suspect found dead
A Severna Park man who was under federal investigation for loan-sharking was identified as the man found killed in his home on Tuesday, Anne Arundel County police said yesterday. (Thu, 19 Oct 2006 07:29:44 GMT)

Mortgage lending growth slows
LONDON (Reuters) - Underlying net mortgage lending rose by 5.4 billion pounds in September, the smallest increase in five months, after a strong rise in August, the British Bankers' Association said on Thursday. (Thu, 19 Oct 2006 08:47:21 GMT)

A Smart Tip on Mortgage Refinance
A big boost in home ownership over the past 20 years implies that people have been afflicted with debts due mortgage refinance. A mortgage is always a huge and life long commitment that can stretch into a person’s retirement years. (Thu, 19 Oct 2006 09:00:59 GMT)

Mortgage surge fuels housing boom
Mortgage lending hits a monthly record in September, according to the Council of Mortgage Lenders. (Thu, 19 Oct 2006 09:54:49 GMT)

Mortgage interest deduction not always best
When analyzing whether to deduct your mortgage interest, you have to also consider the standard tax deduction and your tax rate, says Dr. Don. (Thu, 19 Oct 2006 10:00:00 GMT)

Mortgage rates stay flat
A week filled with contradictory economic data let mortgage rates end pretty much where they started out in Bankrate's weekly survey. The benchmark 30-year fixed rate stayed at 6.42 percent. (Thu, 19 Oct 2006 10:00:00 GMT)

Deducting foreign mortgage payments
You can deduct the mortgage interest; however, interest paid by a U.S. citizen to a foreign entity is subject in most cases to a withholding tax of 30 percent, says CPA George Saenz. (Thu, 19 Oct 2006 10:00:00 GMT)

Mortgage lending growth slows
LONDON (Reuters) - Underlying mortgage lending showed its smallest increase in five months in September, the British Bankers' Association said on Thursday, adding that the reading was to be expected after August's strong rise. (Thu, 19 Oct 2006 10:02:32 GMT)

Bay Area mortgage defaults on the rise
The number of Bay Area homeowners facing foreclosure rose to the highest level in more than seven years in the third quarter, while foreclosure activity statewide was higher than anytime in more than four years, a real estate information firm reported Wednesday. (Thu, 19 Oct 2006 10:04:36 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. (Thu, 19 Oct 2006 10:35:41 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. (Thu, 19 Oct 2006 10:36:26 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. (Thu, 19 Oct 2006 10:44:56 GMT)

Mortgage lending slows in September
LONDON (SHARECAST) - Growth in underlying mortgage lending slowed in September, as expected following the interest rate rise in August, though economists said the market remains in robust shape. (Thu, 19 Oct 2006 10:59:49 GMT)

Bankrate: Mortgage Rates Hold Steady
Mortgage rates showed little movement this week. The average 30-year fixed mortgage remains at 6.42 percent. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.32 discount and origination points. (Thu, 19 Oct 2006 11:30:00 GMT)

Deducting foreign mortgage payments
Dear Tax Talk, I am a U.S. citizen working in South Korea for a U.S. company and I plan to purchase a house in S. Korea. I will have to get a loan from a local South Korean bank and pay a monthly mortgage. Will I be able to deduct the foreign mortgage payment on my income tax return? Thank you. (Thu, 19 Oct 2006 11:37:13 GMT)

Mortgage interest deduction not always relevant
Dear Dr. Don, Regarding your advice on whether or not to pay off the $190,000 mortgage at 5.375 percent, asked by Matt Mutual : You factor in the mortgage tax deduction in your computations, but fail to mention the standard deduction of $10,300, which is just above the interest paid on the full amount, which of course would decline as the principal is repaid. (Thu, 19 Oct 2006 11:37:23 GMT)

Home equity loan vs. line of credit
There are two types of home equity loans: term, or closed-end loans, and lines of credit. (Thu, 19 Oct 2006 11:37:33 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. (Thu, 19 Oct 2006 12:11:24 GMT)

Bay Area loan defaults climb
East Bay home loan defaults rose sharply across Alameda, Contra Costa and Solano counties, and statewide home-loan defaults rose to their highest level in 41/2 years. (Thu, 19 Oct 2006 13:29:18 GMT)

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