Mortgage News Jan 2007

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Home loan security
Tick tock, tick tock. Time is running out on $1 trillion worth of adjustable-rate mortgages nationwide that have interest rates scheduled to re-set this year. (Mon, 08 Jan 2007 09:14:31 GMT)

Mortgage of the week
The Alliance & Leicester is offering a fixed rate deal until the 31st January 2009, at a rate of 4.84%, reverting to the standard variable rate for the remaining term of the mortgage, currently 7.09%. The overall cost for comparison is 7.1% APR. An Early Repayment Charge is payable if you repay all or part of the mortgage during the fixed rate period. (Mon, 08 Jan 2007 10:26:24 GMT)

Mastering the mortgage maze
Consider this brain teaser: What is it that we can't wait to obtain but, as soon as we do, we can't wait to get rid of? The answer: Our mortgage. Financial advisers are often asked whether a mortgage should be paid off if there is available cash and/or investments to do so. (Mon, 08 Jan 2007 10:29:44 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, 08 Jan 2007 10:30:27 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Mon, 08 Jan 2007 10:31:47 GMT)

Lagoon Bahrain signs mortgage deal with Reef
The Lagoon Bahrain, a mixed-use commercial development pioneered by Abu Dhabi Investment House of the UAE, has signed a Memorandum of Understanding with Reef - Real Estate Finance Company to offer mortgage packages to investors. (Mon, 08 Jan 2007 10:53:51 GMT)

New mortgage finance, real estate firm lies in wait for an upturn
SANTA ROSA – Simpac Financial – a 6-month-old mortgage and real estate brokerage and property management company – is quietly expanding, taking over another office on Santa Rosa's Old Courthouse Square and positioning itself for an eventual rebound of the real estate market. (Mon, 08 Jan 2007 11:22:40 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, 08 Jan 2007 11:33:20 GMT)

Repurchases Stinging Subprime Sector - Mortgage Industry Insider from MortgageDaily.com
Buybacks are exacting a toll on subprime lenders -- even forcing some out of business, according to coverage from MortgageDaily.com -- the dominant source of online news for the mortgage industry. (Mon, 08 Jan 2007 12:00:00 GMT)

Survey shows mortgage insurance savings
Consumers who have a mortgage or who are taking one out this year can save a considerable amount of money on their mortgage protection insurance, according to a new life insurance cost survey by the Financial Regulator. (Mon, 08 Jan 2007 12:04:39 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. (Mon, 08 Jan 2007 12:17:44 GMT)

Using CD to secure a loan
Dear Dr. Don, I have some money I would like to put in a CD. Can I borrow against it? -- Collateral Credit Dear Collateral, Yes, there are banks and credit unions that will give you a loan collateralized by money you have on deposit at that financial institution. (Mon, 08 Jan 2007 12:33:43 GMT)

Equity loan rates in 2007 are anyone's guess
Two events accelerated home equity debt in the early years of this century, and both appear to be fading away. (Mon, 08 Jan 2007 12:33:53 GMT)

FSA says firms need to improve mortgage advice processes
The Financial Services Authority (FSA) today called on firms giving mortgage advice to improve their processes after new findings showed that only one third of the firms it sampled had robust processes in place to provide customers with suitable advice. (Mon, 08 Jan 2007 12:54:12 GMT)

Australia's Home-Loan Approvals Drop for Fourth Month (Update4)
Jan. 15 (Bloomberg) -- Australia's home-loan approvals fell for a fourth month in November as rising interest rates curbed borrowing, stalling a housing recovery in the Asia-Pacific region's fifth-largest economy. (Mon, 15 Jan 2007 06:08:36 GMT)

What to do if you're late on the mortgage
Q . How can I catch up on a mortgage payment? I have fallen behind and have no options, such as extension, refinance, deferral, debt consolidation loan, etc., available to me. Also, apparently, I am not allowed to pay partial payments to catch up the payment. I have a job with available overtime, so I know I can make a little extra money this way, but I am also behind with other bills. (Mon, 15 Jan 2007 07:14:24 GMT)

Home Products gets OK for $60-mil. bankruptcy loan
(AP) -- Home Products International Inc. won final Bankruptcy Court approval to borrow on a $60-million bankruptcy loan as it works to win court approval of its plan to exit bankruptcy through a debt-for-equity swap with its bondholders. Judge Christopher S. Sontchi of the U.S. ... (Mon, 15 Jan 2007 21:10:27 GMT)

OAB enters home loan market
MUSCAT — The real estate boom in Oman has prompted one more bank in the country to enter the lucrative housing loan segment. Oman Arab Bank (OAB) said yesterday that its 'Al Dar' housing loan scheme would be available to both nationals and expatriates. (Tue, 16 Jan 2007 03:15:25 GMT)

Mortgage Refinancing Without Overpaying Just Got Easier For Homeowners With RefiAdvisor.com's New Video Tutorial
Most Americans pay double what they think they're paying when refinancing their mortgage loans. Homeowners who think they're paying $3,000 in loan origination fees are really paying close to $6,000, and probably more without knowing it. This markup has gotten so bad that the Secretary of Housing and Urban Development was recently quoted saying that Americans overpay 16 billion dollars in ... (Tue, 16 Jan 2007 08:41:44 GMT)

Deducting mortgage loan points
Don't overlook the points you paid to get a lower mortgage rate. They can be a useful tax break. (Tue, 16 Jan 2007 11:00:00 GMT)

Mortgage Refinancing Without Overpaying Just Got Easier For Homeowners With RefiAdvisor.com's New Video Tutorial
Albuquerque, NM (PRWeb) January 16, 2007 -- RefiAdvisor. (Tue, 16 Jan 2007 12:00:00 GMT)

Sponsored results for Home:
Home $150K loan for $381/month. Save $1000's - Apply Now. Refinance.Low.com Browse New Home Listings Online Optimum Home s is your online real estate source. (Tue, 16 Jan 2007 13:27:31 GMT)

Federal Home Loan Bank of Atlanta to Award $20.9 Million for Affordable Housing
Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award more than $20.9 million in grants and subsidies to fund 68 affordable housing projects in 12 states and the District of Columbia. (Tue, 16 Jan 2007 14:43:00 GMT)

Are You in the Right Mortgage?
(ARA) - Most people who buy a home put their mortgage in a drawer -- they close on the loan and make their payments every month and don't think about it beyond that. But what they may not realize is that being in the wrong mortgage for your current situation can hurt you by costing you money. (Tue, 16 Jan 2007 16:35:42 GMT)

Sector Snap: Mortgage Lenders Fall
Shares of mortgage lenders plunged Tuesday after Indymac Bancorp, the ninth-biggest U.S. mortgage lender, warned it will substantially miss fourth-quarter profit forecasts amid a deteriorating housing market. (Tue, 16 Jan 2007 17:25:31 GMT)

Mortgage rates to rise to 6.5% by year-end: MBA
WASHINGTON (MarketWatch) - Fixed-mortgage rates are expected to rise to about 6.5% by the end of 2007, and sales of both new and existing homes are expected to slide this year, the Mortgage Bankers Association said Tuesday. (Tue, 16 Jan 2007 18:08:49 GMT)

Kara Homes gets bankruptcy judge's OK for replacement loan
A judge today allowed Kara Homes Inc. to replace a $2.6 million loan from an investment bank with one borrowed from a hedge fund, and he will decide later this month whether an additional $2.4 million can go to the beleaguered home builder. Kara will use the $2.6 million to pay off investment bank Bear Stearns and to fund its operations through the end of the month. On Jan. 29, U.S. Bankrupcy ... (Tue, 16 Jan 2007 18:44:37 GMT)

Bankruptcy judge OKs replacement loan for Kara Homes
TRENTON: A judge today allowed Kara Homes Inc. to replace a $2.6 million loan from an investment bank with one borrowed from a hedge fund, and he will decide later this month whether an additional $2.4 million can go to the beleaguered home builder. (Tue, 16 Jan 2007 18:51:15 GMT)

Mortgage fraud trial to be long
Federal prosecutors quoted Hillary Rodham Clinton's "It Takes a Village" to describe the web of people needed to pull off illicit dealings as the trial of alleged mortgage fraud mastermind Phillip Hill kicked off Tuesday. The "village," in this case, was Hill and 11 co-defendants who were crowded with their attorneys in the large ceremonial courtroom at the Richard B. Russell Federal Building, ... (Wed, 17 Jan 2007 01:01:27 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Wed, 17 Jan 2007 03:47:47 GMT)

Around the Markets: Investors load up on mortgage bonds as Treasury gains fade
Bill Gross, manager of the world's biggest bond fund, and a growing number of other investors are reducing Treasury bonds in favor of mortgage-backed securities as expectations for lower interest rates this year fade. (Wed, 17 Jan 2007 07:52:10 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Wed, 17 Jan 2007 08:11:03 GMT)

New Online Home Loan Company Aiming to Create Positive Change for Buyers in a Recovering Housing Market
In the first half of this decade, the housing market in the United States proved to be red hot. Only in 2006 did the real estate bubble begin to pull back, causing many potential homebuyers to think twice before settling down. With uncertain predictions for what 2007 will hold, many eager homebuyers are turning to companies like First Waterview Financial to get help making the most informed ... (Wed, 17 Jan 2007 08:37:59 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, 17 Jan 2007 10:19:29 GMT)

Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Wed, 17 Jan 2007 10:34:16 GMT)

Paying off mortgage versus taxable investments
It depends how your investment return compares with the mortgage, says Dr. Don. (Wed, 17 Jan 2007 11:00:00 GMT)

Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Wed, 17 Jan 2007 11:15:37 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, 17 Jan 2007 11:15:57 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, 17 Jan 2007 11:18:15 GMT)

(AFX UK Focus) 2007-01-17 11:33 GMT: EU to propose mortgage policy in June, calls for comments from stakeholders
BRUSSELS (AFX) - The European Commission said it has published reports from the two expert groups established to investigate issues of mortgage funding and consumer protection, and will set out proposals for a mortgage policy in June. (Wed, 17 Jan 2007 11:47:28 GMT)

New Online Home Loan Company Aiming to Create Positive Change for Buyers in a Recovering Housing Market
(PRWeb) January 17, 2007 -- 2006 was a rude awakening for many consumers and families in the United States who were seriously considering buying a new home. (Wed, 17 Jan 2007 12:00:00 GMT)

Business booms for mortgage brokers
VICTORVILLE — With 30-year-fixed loans steadily decreasing in recent months, mortgage companies in the High Desert report that business is booming as homeowners scurry to refinance adjustable-rate loans before unpredictable rates go higher. (Wed, 17 Jan 2007 12:24:37 GMT)

Mortgage Application Volume Slips On Drop In Purchase Activity
(RTTNews) - The volume of mortgage loan applications edged slightly lower last week, according to industry data released Wednesday. This came as a drop in purchasing activity more than offset a further increase in refinancing. (Wed, 17 Jan 2007 12:26:08 GMT)

Mortgage applications slip 0.6% in most recent week
WASHINGTON (MarketWatch) -- The number of applications filed for mortgage loans at major U.S. banks fell by 0.6% last week compared to a week earlier, as a decline in loans to buy homes offset an increase in refinancings, the Mortgage Bankers Association reported Wednesday. (Wed, 17 Jan 2007 12:26:53 GMT)

Paying off mortgage versus taxable investments
Dear Dr. Don, I've read numerous articles about the benefits of saving for retirement on a pretax basis or prepaying your mortgage. All seem to focus on having to do one or the other. The majority seem to favor retirement savings. (Wed, 17 Jan 2007 12:34:21 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, 17 Jan 2007 12:35:41 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, 17 Jan 2007 12:36:41 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, 17 Jan 2007 12:36:49 GMT)

Mortgage applications tumble as rates rise
Weekly activity index falls 0.6% on drop in demand as interest rates increase 0.8%, industry trade group reports. (Wed, 17 Jan 2007 12:40:23 GMT)

More refinancers, but overall mortgage demand drops as rates rise
Mortgage applications fell last week, reflecting a drop in demand for home purchase loans, as interest rates climbed, an industry trade group said Wednesday. (Wed, 17 Jan 2007 13:35:48 GMT)

Windass returns home
Veteran Bradford City striker Dean Windass has joined Hull City on loan until the end of the season. (Wed, 17 Jan 2007 13:55:45 GMT)

UK's high-risk mortgage customers identified
The Council of Mortgage Lenders (CML) has extended the use of its online statistical database to provide banks and building societies with information on high-risk and good-value customers for the very first time. (Wed, 17 Jan 2007 14:38:03 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, 17 Jan 2007 14:51:32 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, 17 Jan 2007 15:30:16 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Wed, 17 Jan 2007 16:36:09 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. (Wed, 17 Jan 2007 18:45:12 GMT)

Bad Credit? FICO Score Under 650? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Wed, 17 Jan 2007 18:45:58 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Wed, 17 Jan 2007 20:18:29 GMT)

Washington Mutual Quarterly Profit Falls 25 Percent (Update1)
Jan. 17 (Bloomberg) -- Washington Mutual Inc., the largest U.S. savings and loan, said fourth-quarter profit fell 25 percent as home mortgage lending faltered. (Wed, 17 Jan 2007 22:55:07 GMT)

Student loan rates cuts: who could benefit?
Paying for college may get a little easier. Today congress voted to cut interest rates on the government's largest loan program. In today's top tips we'll tell you what you need to know. (Wed, 17 Jan 2007 23:10:02 GMT)

Washington Mutual profit up despite mortgage loss
NEW YORK (Reuters) - Washington Mutual Inc. , the largest U.S. savings and loan, said on Wednesday fourth-quarter profit rose 22 percent, as a gain from the sale of a mutual fund unit offset a loss in its mortgage business and weakened credit quality. (Thu, 18 Jan 2007 00:12:50 GMT)

WaMu quarterly net rises 23%, mortgage biz loses $122 mln
SAN FRANCISCO (MarketWatch) -- Washington Mutual reported a 23% increase in fourth-quarter net income late Wednesday, but the lender's mortgage business continued to suffer from a housing market slowdown. (Thu, 18 Jan 2007 00:38:56 GMT)

Halifax launches new mortgage products
Halifax Building Society has launched a new home-mover mortgage product, exclusively available to the intermediary market, as well as a range of new low start stepped fixed-rate mortgages. (Thu, 18 Jan 2007 02:16:47 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. (Thu, 18 Jan 2007 03:18:24 GMT)

KB Home warns of ID theft risk
Thousands of KB Home customers are being warned of the risk of identity theft after one of the home builder’s computers was stolen from a Charleston sales office. (Thu, 18 Jan 2007 05:04:26 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Thu, 18 Jan 2007 05:52:00 GMT)

Students praise vote to reduce loan rates
WASHINGTON — Area college students are applauding a U.S. House measure that would cut student loan rates, but some lawmakers and college administrators are predicting the bill that passed Wednesday will not be a financial windfall for debt-saddled students. (Thu, 18 Jan 2007 09:10:03 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, 18 Jan 2007 10:34:15 GMT)

Inflation bumps mortgage rates up again
For the fifth time in six weeks, mortgage rates rose in Bankrate's national survey, with the benchmark 30-year fixed hitting 6.26 percent. (Thu, 18 Jan 2007 11:00:00 GMT)

Mortgage lending falls
Mortgage lending fell by more than 10 per cent in December but figures still remain at record levels from the previous month. (Thu, 18 Jan 2007 11:11:09 GMT)

Mortgage lending up
Gross mortgage lending rose 8 percent on the year to 29.4 billion pounds in December, a record for the month, the Council of Mortgage Lenders said on Thursday. (Thu, 18 Jan 2007 11:12:32 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Thu, 18 Jan 2007 11:16:04 GMT)

Mortgage lending hits record December high
Gross mortgage lending hit a record high in December, according to a new report published today, fuelled by rising house prices. (Thu, 18 Jan 2007 11:30:19 GMT)

Mortgage lending hits record December high
LONDON (SHARECAST) - Gross mortgage lending hit a record high in December, according to a new report published today, fuelled by rising house prices. The Council of Mortgage Lenders said gross mortgage lending rose 8% on the year in December to £29.4bn. a record for the month. (Thu, 18 Jan 2007 11:33:56 GMT)

Mortgage lending 'at record high'
Mortgage lending falls by 10% in December, but is still at record levels for the month, figures show. (Thu, 18 Jan 2007 11:39:52 GMT)

Mortgage Lending Down But On Record
Mortgage lending fell by by more than 10% in December following record levels seen in November, although £29.4bn was till lent to homebuyers during the month. Despite the month-on-month fall, December saw mortgage levels increase by 8% on an annual basis, the Council of Mortgage Lenders said. (Thu, 18 Jan 2007 11:52:23 GMT)

Mortgage lending 'at record high'
Mortgage lending falls by 10% in December, but is still at record levels for the month, figures show. (Thu, 18 Jan 2007 11:55:47 GMT)

Italy Parma take Manchester Utd teenager Rossi on loan
Manchester United's 19-year-old Italian-American striker Giuseppe Rossi has rejoined his former club Parma on loan until the end of the season, the Serie A side confirmed on Thursday. (Thu, 18 Jan 2007 12:06:59 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, 18 Jan 2007 12:16:55 GMT)

Bankrate: Mortgage Rates Inch Higher
Mortgage rates increased for the sixth time in 7 weeks with the average 30-year fixed rate rising to 6.26 percent. This is the highest point in the past 10 weeks. 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, 18 Jan 2007 12:30:00 GMT)

Bankrate: Mortgage Rates Inch Higher
NEW YORK, Jan. 18 /PRNewswire-FirstCall/ -- Mortgage rates increased for the sixth time in 7 weeks with the average 30-year fixed rate rising to 6.26 percent. This is the highest point in the past 10 weeks. (Thu, 18 Jan 2007 12:45:58 GMT)

Parma take Man Utd teenager Rossi on loan
Manchester United's 19-year-old Italian-American striker Giuseppe Rossi has rejoined his former club Parma on loan until the end of the season, the Serie A side has confirmed. (Thu, 18 Jan 2007 13:06:48 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, 18 Jan 2007 14:01:55 GMT)

Italy Parma take Manchester Utd teenager Rossi on loan
Manchester United's 19-year-old Italian-American striker Giuseppe Rossi has rejoined his former club Parma on loan until the end of the season, the Serie A side confirmed on Thursday. (Thu, 18 Jan 2007 14:21:01 GMT)

SEATTLE: Sale of advisory unit helps WaMu offset mortgage losses
Washington Mutual Inc., the nation's largest savings and loan, said Wednesday that its net income rose 22 percent in the fourth quarter as profits from the sale of its advisory unit helped offset a loss in its home mortgage business because of problems with subprime loans. (Thu, 18 Jan 2007 14:53:24 GMT)

Mortgage lending down - but still at record levels
Mortgage lending fell by more than 10 per cent in December following record levels experienced in the previous month. The Council of Mortgage Lenders said £29.4 billion was lent to homebuyers by banks and building societies (Thu, 18 Jan 2007 14:54:03 GMT)

Mortgage rates turn higher
Mortgage rates rose last week, with the 30-year fixed mortgage averaging 6.23 percent for the latest week, up from 6.21 last week, according to Freddie Mac's survey released Thursday. (Thu, 18 Jan 2007 16:12:00 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Thu, 18 Jan 2007 16:13:41 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Thu, 18 Jan 2007 16:17:26 GMT)

Mortgage rates turn higher
Indicators of a positive economy, as well as concerns of core inflation expectations helped long-term mortgage rates edge up to their highest levels since November, according to a survey. (Thu, 18 Jan 2007 16:30:00 GMT)

Are You in the Right Mortgage?
(ARA) - Most people who buy a home put their mortgage in a drawer -- they close on the loan and make their payments every month and don't think about it beyond that. But what they may not realize is that being in the wrong mortgage for your current situation can hurt you by costing you money. (Thu, 18 Jan 2007 16:46:53 GMT)

U.S. mortgage rates rise to November levels
CHICAGO (MarketWatch) -- Mortgage rates were at their highest levels since November this week, according to Freddie Mac's weekly survey, released on Thursday. (Thu, 18 Jan 2007 16:57:44 GMT)

Paying points is a bad idea unless you keep mortgage
Pay points or not? Anyone who's ever shopped for a mortgage has faced the question – and borrowers who expect to stay in their homes for some time generally have been advised to pay points in order to get a lower mortgage rate. (Thu, 18 Jan 2007 18:05:50 GMT)

Bankrate: Mortgage Rates Inch Higher
NEW YORK, Jan. 18 /PRNewswire-FirstCall/ -- Mortgage rates increased for the sixth time in 7 weeks with the average 30-year fixed rate rising to 6. (Thu, 18 Jan 2007 18:10:41 GMT)

Long-Term Mortgage Rates Rise
Long-term mortgage rates are at their highest levels since back in November. Freddie Mac says the 30-year fixed-rate mortgage is averaging 6.23 percent this week -- up two basis points from last week. A year ago the rate was 6.10 percent. (Thu, 18 Jan 2007 18:32:45 GMT)

The Home Buying Process: Step by Step
(ARA) - Buying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. (Thu, 18 Jan 2007 18:55:27 GMT)

Lee R. Gibson Elected Chairman of Board of Directors of the Federal Home Loan Bank of Dallas
DALLAS, Jan. 18, 2007 -- The Federal Home Loan Bank of Dallas announced that Lee R. Gibson was elected Chairman of the Board, effective January 1, 2007. He has served as a Bank director since 2002 and is currently serving a second three-year term, which commenced on January 1, 2006. (Thu, 18 Jan 2007 20:19:36 GMT)

Mortgage Rates Rise to November Levels
Rates on 30-year mortgages rose this week to the highest level in nine weeks as financial markets reacted to a series of more upbeat financial reports. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.23... (Thu, 18 Jan 2007 21:08:35 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Thu, 18 Jan 2007 21:52:36 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, 18 Jan 2007 22:52:37 GMT)

Fidelity National Information Services, Inc. Completes Refinancing of Credit Facilities
Fidelity National Information Services, Inc. announced today that it has completed the refinancing of its principal credit facilities. (Thu, 18 Jan 2007 23:10:00 GMT)

Realty Q&A: How mortgage scams snare unsuspecting sellers
WASHINGTON (MarketWatch) -- Question: In your article about how to guard against mortgage fraud, you wrote: "Don't jump at a contract offer that ... involves a kickback of the overage to the buyer at closing. Chances are the buyer wants an inflated price on the property so he can take the additional money and run without every making the first payment." See previous Realty Q&A. ... (Fri, 19 Jan 2007 00:39:45 GMT)

State strengthens regulation of mortgage lenders
The Oregon Department of Consumer and Business Services on Thursday announced changes to its regulations of the mortgage lending industry. (Fri, 19 Jan 2007 03:28:17 GMT)

Law Puts Cap On Interest Payday Loan Centers Can Charge Military
A new national law aims to keep military men and women debt-free by restricting payday loan centers. The law, passed in December, limits the annual interest payday and quick loan centers can charge servicemen. (Fri, 19 Jan 2007 04:01:42 GMT)

Fidelity National Information Services, Inc. Completes Refinancing of Credit Facilities
Fidelity National Information Services, Inc. announced today that it has completed the refinancing of its principal credit facilities. The new facilities include a $900 million five-year unsecured revolving credit facility and a $2.1 billion five-year unsecured amortizing term loan facility. The initial borrowing rate for the facilities will be LIBOR plus 100 basis points, in accordance with the ... (Fri, 19 Jan 2007 04:52:31 GMT)

Mortgage bankers have new leader
The trade association for mortgage bankers in Hawaii has tapped a senior manager at HomeStreet Bank as their new president. (Fri, 19 Jan 2007 04:54:50 GMT)

Exotic home loans bring higher stakes
WASHINGTON – At 64, and looking toward his retirement next year, Willie Lee Howard agreed to refinance his duplex in Washington, thinking that a fixed-rate loan would help stabilize his finances. ... - By Kirstin Downey The Washington Post (Fri, 19 Jan 2007 05:19:26 GMT)

Mortgage Lender Enhances High LTV Home Loan Program for Borrowers
Primary Capital Mortgage adds features, flexibility for those seeking a high LTV home loan. (PRWeb Jan 19, 2007) Post Comment:Trackback URL: http://www.prweb.com/chachingpr.php/UGlnZy1Db3VwLVpldGEtTG92ZS1NYWduLVplcm8= (Fri, 19 Jan 2007 08:26:09 GMT)

Mortgage-shop as carefullyas you hunted for new home
Once you find the home of your dreams, you just have to find some way to pay for it. But shopping for a mortgage can be a daunting task, even for the financially savvy. Here are some things to remember as you compare your options: (Fri, 19 Jan 2007 09:18:18 GMT)

Indonesia BTN mortgage-backed securities seen in '07
JAKARTA, Jan 19 (Reuters) - Indonesia's first issue of residential mortgage-backed securities since the Asian financial crisis a decade ago is expected this year with a likely amount of 500 billion rupiah ($55.11 million), the sole arranger said on Friday. (Fri, 19 Jan 2007 09:31:37 GMT)

Mortgage lending rises in December -BBA
Underlying net mortgage lending rose 5.8 billion pounds in December, the British Bankers' Association said on Friday, suggesting higher borrowing costs may be starting to weigh on the housing market. (Fri, 19 Jan 2007 09:36:38 GMT)

Legislature urged to rein in home loan abuses
Minnesota Attorney General Lori Swanson on Thursday announced an aggressive plan for cracking down on abusive home loans, saying they're partly to blame for a surge of foreclosures. (Fri, 19 Jan 2007 10:28:47 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, 19 Jan 2007 10:34:06 GMT)

Mortgage Rates Rise to November Levels
WASHINGTON -- Rates on 30-year mortgages rose this week to the highest level in nine weeks as financial markets reacted to a series of more upbeat financial reports. (Fri, 19 Jan 2007 10:40:51 GMT)

Home-repair loan used for pot room, police say
A Fort Wayne man who police said had 65 marijuana plants growing in a hidden room in his house allegedly told police that he took out a home-improvement loan to build the secret room. (Fri, 19 Jan 2007 10:53:13 GMT)

What to do with 2/28 mortgage
These mortgages are usually a sign of credit problems, says Dr. Don. (Fri, 19 Jan 2007 11:00:00 GMT)

Mortgage lending up in December -BBA
Underlying net mortgage lending rose 5.8 billion pounds in December, the British Bankers' Association said on Friday, but analysts said higher borrowing costs may be starting to weigh on the housing market. (Fri, 19 Jan 2007 11:21:30 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. (Fri, 19 Jan 2007 11:31:46 GMT)

Fidelity National Information Services, Inc. Completes Refinancing of Credit Facilities
Fidelity National Information Services, Inc. announced today that it has completed the refinancing of its principal credit facilities. The new facilities include a $900 million five-year unsecured revolving credit facility and a $2.1 billion five-year unsecured amortizing term loan facility. The initial borrowing rate for the facilities will be LIBOR plus 100 basis points, in accordance with the ... (Fri, 19 Jan 2007 11:49:45 GMT)

Mortgage Lender Enhances High LTV Home Loan Program for Borrowers
Atlanta, GA (PRWeb) January 19, 2007 -- Primary Capital Mortgage, the premier residential mortgage lender, has expanded its high LTV loan program to include some exciting new options for borrowers. (Fri, 19 Jan 2007 12:00:00 GMT)

Getting a Mortgage with Bad Credit
(ARA) - Having bad credit is not the end of the world and it's not impossible to get a loan. Generally, credit scores below 600 are considered sub-prime and the lower your credit score, the harder it will be for you to secure a mortgage. (Fri, 19 Jan 2007 12:00:33 GMT)

What to do with 2/28 mortgage
Dear Dr. Don, I purchased my first home back in September 2005 at a fixed rate of 6.5 percent for the first two years and an adjustable rate thereafter. When can I refinance my mortgage so that it'll remain at a fixed rate -- preferably lower than 6.5 percent? (Fri, 19 Jan 2007 12:33:39 GMT)

United Community Financial Corp. and Home Savings Announce Executive Management Promotions
YOUNGSTOWN, Ohio----The Home Savings and Loan Company, a subsidiary of United Community Financial Corp. , announces the promotions of David G. Lodge to President and Chief Operating Officer of United Community Financial Corp., Patrick W. (Fri, 19 Jan 2007 13:10:00 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Fri, 19 Jan 2007 14:09:14 GMT)

Home-repair loan used for pot room, police say
A Fort Wayne man who police said had 65 marijuana plants growing in a hidden room in his house allegedly told police that he took out a home-improvement loan to build the secret room. (Fri, 19 Jan 2007 14:15:39 GMT)

Mortgage rates rise on financial news
Rates on 30-year mortgages rose this week to the highest level in nine weeks. Mortgage company Freddie Mac reported yesterday that 30-year, fixed-rate mortgages averaged 6.23 percent this week, up from 6.21 percent last week. (Fri, 19 Jan 2007 14:32:06 GMT)

Borrowers beware of nontraditional mortgage
WASHINGTON — At 64, and looking toward his retirement next year, Willie Lee Howard agreed to refinance his duplex in Washington, thinking that a fixed-rate loan would help stabilize his finances. (Fri, 19 Jan 2007 15:18:20 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Fri, 19 Jan 2007 15:49:45 GMT)

States seek millions of dollars in fines against mortgage firm
Banking regulators in several states took action Friday that could result in tens of millions of dollars in fines against a troubled Connecticut-based mortgage lender that works primarily with people with poor credit. (Fri, 19 Jan 2007 16:26:32 GMT)

State Moves Against Mortgage Lender
State banking regulators issued a temporary cease and desist order Friday against a troubled mortgage lender based in Middletown. (Fri, 19 Jan 2007 16:30:05 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, 19 Jan 2007 16:33:26 GMT)

Mortgage Company Stops California Foreclosure on Senior's Home with Two Minutes to Spare
Foreclosure stopped on Ontario California senior citizen's home. Mortgage company hand delivered check to Courthouse to avoid foreclosure just 2 minutes before real estate went to auction with 10 investors waiting to bid. (PRWeb Jan 19, 2007) (Fri, 19 Jan 2007 17:15:13 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 19 Jan 2007 17:16:56 GMT)

Conn. Seeks $7M Fine on Mortgage Lender
State banking regulators said Friday they are seeking fines that could exceed $7 million in a multi-state effort against a troubled mortgage lender that works primarily with people with poor credit. (Fri, 19 Jan 2007 17:25:43 GMT)

Conn. Seeks Fine Against Mortgage Lender
State banking regulators said Friday they are seeking fines that could exceed $7 million in a multistate effort against a troubled mortgage lender that works primarily with people with poor credit. (Fri, 19 Jan 2007 17:39:42 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, 19 Jan 2007 17:45:06 GMT)

Township votes to apply for emergency loan Residents show up in support, protest of loan, tax anticipation warrant
Gregg Township Trustee Carol Snyder and the township board voted Thursday to apply for a tax anticipation warrant of $125,000 and an emergency loan of $319,792. (Fri, 19 Jan 2007 18:13:18 GMT)

Connecticut seeks $7M fine against mortgage lender
HARTFORD, Conn. -- State banking regulators said Friday they are seeking fines that could exceed $7 million in a multistate effort against a troubled mortgage lender that works... (Fri, 19 Jan 2007 18:18:51 GMT)

Conn. regulator issues order on Mortgage Lenders Network
NEW YORK (MarketWatch) -- Connecticut's banking commissioner issued a temporary order to cease and desist against Mortgage Lenders Network USA Inc., alleging the lender failed to fund loans it had agreed to make before it shut down the bulk of its lending operations late last month. (Fri, 19 Jan 2007 19:07:53 GMT)

How to find a home or get a college loan
Question 1: Next year, we'll be in the market for a home. Please cite any sources I might find useful to help me start my search. - Stephen, Minneapolis (Fri, 19 Jan 2007 19:26:32 GMT)

Peter G. Miller: Buyer facing loan switcheroo may need to seek legal help
Q: I just purchased a home for $86,400. (Fri, 19 Jan 2007 19:51:29 GMT)

R.I., Conn. Investigate Mortgage Lender
State banking regulators in Connecticut said Friday they are seeking fines that could exceed $7 million in a multistate effort against a troubled mortgage lender that works primarily with people with poor credit. (Fri, 19 Jan 2007 23:09:10 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. (Fri, 19 Jan 2007 23:16:08 GMT)

Mortgage Lenders told to cease and desist
As a result of a temporary cease and desist order, people wishing to get a loan from Mortgage Lenders Network USA Inc. are no longer able to do so. The Middletown-based company received the order from the Connecticut banking commissioner Friday. (Fri, 19 Jan 2007 23:22:33 GMT)

Connecticut seeks $7M fine against mortgage lender
State banking regulators said Friday they are seeking fines that could exceed $7 million in a multistate effort against a troubled mortgage lender that works primarily with people with poor credit. (Fri, 19 Jan 2007 23:24:36 GMT)

States seek millions of dollars in fines against mortgage firm
HARTFORD, Conn. -- Banking regulators in several states took action Friday that could result in tens of millions of dollars in fines against a troubled Connecticut-based mortgage lender... (Fri, 19 Jan 2007 23:34:03 GMT)

Barclays buys US mortgage business
The British bank has made its first move into the US mortgage market with the acquisition of EquiFirst for $225m (£115m). (Sat, 20 Jan 2007 00:12:42 GMT)

Want to go without wind? Good luck on your mortgage, banks say
Consumers might want to go without wind coverage, and may decide on a higher deductible in return for lower rates, but mortgage companies could keep these options from producing what the Florida Legislature wants: lower property insurance rates for all consumers. (Sat, 20 Jan 2007 00:34:52 GMT)

Mortgage lending hits December high
Gross mortgage lending was £29.4bn in December - a new record for the month - the Council of Mortgage Lenders said yesterday. The figure was 11 per cent lower than the amount borrowed in the previous month but 8 per cent higher than in December 2005. (Sat, 20 Jan 2007 02:08:02 GMT)

Don't Forget to Tap Your Mortgage for Valuable Tax Deductions
(ARA) - If you're a homeowner, it's always a good idea to make sure you haven't missed any tax deductions. You may not be able to take all of these deductions, so please check with your tax advisor. (Sat, 20 Jan 2007 03:46:54 GMT)

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