Mortgage News Feb 2007

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(AFX UK Focus) 2007-02-20 09:45 GMT: UK mortgage lending, approvals hit highest ever level for month of January - BSA
LONDON (AFX) - The UK saw the biggest level of both mortgage lending and approvals for any January on record last month, suggesting that the housing market remains very buoyant despite the recent rises in interest rates, a leading industry group said today. (Tue, 20 Feb 2007 10:05:00 GMT)

(AFX UK Focus) 2007-02-20 09:45 GMT: UK Jan net mortgage lending growth 5.6 bln stg vs 5.7 bln in Dec - BBA
LONDON (AFX) - UK net mortgage lending growth slipped very slightly in January but remained firm, while credit card borrowing continued to fall, figures from the British Bankers Association showed. (Tue, 20 Feb 2007 10:05:10 GMT)

Mortgage record broken in January
Mortgage lending hits a record high for the month of January, according to the Council of Mortgage Lenders (CML). (Tue, 20 Feb 2007 10:14:40 GMT)

UK mortgage lending surges in Jan
UK gross mortgage lending dipped slightly from December's level but hit a record high for any January, according to figures released by the Council of Mortgage Lenders. (Tue, 20 Feb 2007 10:19:49 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." (Tue, 20 Feb 2007 10:48:25 GMT)

City fan Flowers glad to be home
SKY BLUES' fan Tim Flowers has come home. The former England goalkeeper, who realised his boyhood dream when he played five games on loan for the club in 2002, has cemented his long association with Coventry City by becoming Iain Dowie's assistant. (Tue, 20 Feb 2007 10:52:33 GMT)

Coventry mortgage book up 10.2 per cent
Coventry Building Society's mortgage and other loans book grew by 10.2 per cent in 2006. (Tue, 20 Feb 2007 11:02:42 GMT)

Mortgage lenders extend borrowing terms
The standard 25-year mortgage has become a thing of the past as lenders stretch borrowing terms as far as 52 years to give homebuyers a leg-up on the property ladder. (Tue, 20 Feb 2007 11:35:49 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? (Tue, 20 Feb 2007 11:49:16 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. (Tue, 20 Feb 2007 12:51:50 GMT)

Mortgage approvals reach all-time high in January
Mortgage lending approvals reached a record high in January, an indication that the property market continues to remain in robust health, the Building Societies Association said. (Tue, 20 Feb 2007 12:55:52 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, 20 Feb 2007 13:00:35 GMT)

Consumers Cautious About Mortgage Debt
Three-quarters of all respondents to the 2006 Mortgage Consumer Survey conducted by Canada Mortgage and Housing Corporation (CMHC) indicated that their goal is to pay off their mortgage as quickly as possible. Moreover, half agreed that, whenever possible, they would use extra money to pay down their mortgage. (Tue, 20 Feb 2007 13:52:44 GMT)

Mortgage lending hits record for January
Mortgage lending hit record highs for January, according to the latest data from the Council of Mortgage Lenders. (Tue, 20 Feb 2007 14:05:05 GMT)

Larsson won't extend loan spell with Manchester United
Henrik Larsson says he won't extend his loan spell with Manchester United and will return to Helsingborg in time for the Swedish domestic season. (Tue, 20 Feb 2007 15:26:26 GMT)

Consumers cautious about mortgage debt: survey
Three-quarters of all respondents to the 2006 Mortgage Consumer Survey conducted by Canada Mortgage and Housing Corp. (CMHC) indicated that their goal is to pay off their mortgage as quickly as possible. (Tue, 20 Feb 2007 15:32:49 GMT)

Veterans Get Boost From New Pennsylvania Housing Finance Agency Home Loan Rules
The Pennsylvania Housing Finance Agency has adopted new rules to help military veterans use its home mortgage loans to buy houses, even if they aren't first-time homebuyers. This new measure means that honorably discharged veterans of the uniformed services who have owned homes in the past can now buy houses using PHFA's bargain-rate loans. PHFA-financed loans generally run anywhere from ... (Tue, 20 Feb 2007 16:00:00 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 20 Feb 2007 16:19:17 GMT)

Wholesale Lenders Decline - Mortgage Industry Insider from MortgageDaily.com
the dominant source of online news for the mortgage industry. (Tue, 20 Feb 2007 16:40:15 GMT)

Mortgage Expert
Team One Mortgage has built a strong reputation as an outstanding mortgage brokerage firm serving the lending needs of real estate professionals, builders and individual home buyers. (Tue, 20 Feb 2007 16:49:27 GMT)

Do You Have Credit Problems? 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. (Tue, 20 Feb 2007 16:55:52 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, 20 Feb 2007 18:04:29 GMT)

Zero-down mortgage lenders folding
About two dozen of the largest subprime mortgage lenders across the country have gone under or stopped making loans since December. (Tue, 20 Feb 2007 19:37:04 GMT)

Luminent Mortgage Capital Announces Excess Inclusion Income Information for Its 2006 Dividends
SAN FRANCISCO, Feb. 20 /PRNewswire-FirstCall/ -- Luminent Mortgage Capital, ( Nachrichten ) Inc. announced today that its has posted to the "Dividend History" section of its website, http://www.luminentcapital.com/, information related to the portion of its dividends attributable to its 2006 taxable year that are treated as excess inclusion income for federal income tax purposes. (Tue, 20 Feb 2007 20:14:42 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, 20 Feb 2007 20:23:25 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, 20 Feb 2007 20:23:36 GMT)

Bad mortgage debt not widespread problem, Fed official says
Federal Reserve Board Governor Susan Bies Tuesday said the bulk of the mortgage market was not troubled by bad debt problems, which were concentrated in the subprime, tarnished-credit sector. (Tue, 20 Feb 2007 20:33:09 GMT)

Equinox Ranked No.1 Outsourcing Vendor to the Mortgage Banking Industry
A survey administered by the Brown-Wilson Group, authors of the best-selling book, The Black Book of Outsourcing has ranked Equinox, an i-flex company, as the top outsourcing vendor to the Mortgage Banking Industry in 2006. Equinox addresses the market in the financial services industry for global Business Process Outsourcing solutions. (Tue, 20 Feb 2007 20:57:36 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, 20 Feb 2007 22:38:06 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? (Tue, 20 Feb 2007 23:21:47 GMT)

Mortgage Choice profit up, keeps outlook
Mortgage Choice has stuck to its forecast of delivering 10 per cent annual profit growth despite warning of challenging lending conditions in the second half. (Wed, 21 Feb 2007 00:18:09 GMT)

New mortgage loans hit record despite rate rises
Mortgage lending hit an all-time January high last month, indicating that the long-running housing boom remains intact despite higher interest rates. (Wed, 21 Feb 2007 01:12:05 GMT)

Mortgage approvals hit record level
The value of fresh mortgage approvals by UK building societies hit a monthly record in January, according to figures yesterday which conflict with recent signs of a housing market slowdown. (Wed, 21 Feb 2007 01:32:48 GMT)

Mortgage lending still on up ... for now
MORTGAGE lending hit an all-time January high of £26.8 billion, despite the increase in interest rates to 5.25 per cent, according to figures released yesterday. (Wed, 21 Feb 2007 02:01:12 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, 21 Feb 2007 02:08:34 GMT)

Mortgage scams began with simple forgeries
A ''bizarre'' mortgage fraud scam involving a former Goodyear real estate agent still has investigators looking for two fugitives. (Wed, 21 Feb 2007 04:17:15 GMT)

Mortgage lender to cut 250 jobs
FORT MILL — Subprime lender Wells Fargo Home Mortgage will cut 250 jobs at its Fort Mill offices, where it employs 2,000 people, the company said Tuesday. (Wed, 21 Feb 2007 05:11:44 GMT)

Low Interest Rate Woos Home Loan Customers
KUALA LUMPUR, Feb 21 (Bernama) -- Low interest rate has remained the main factor for Malaysians to consider when taking up a home loan, says a study market research and retail consultancy firm, Ratera & van Galen Sdn Bhd. (Wed, 21 Feb 2007 07:32:22 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, 21 Feb 2007 07:39:42 GMT)

Home seekers stand in line for days for a loan
SARASOTA COUNTY -- About 40 people camped outside for a chance at $35,000. (Wed, 21 Feb 2007 09:37:57 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, 21 Feb 2007 11:19:16 GMT)

TMP mortgage advisers receive Beacon packaging service
Specialist provider Beacon Group has announced a deal with The Money Portal that sees it introducing a bespoke packaging service exclusively for TMP mortgage advisers. (Wed, 21 Feb 2007 11:32:09 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, 21 Feb 2007 12:06:38 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, 21 Feb 2007 12:06:48 GMT)

Home-purchase loan applications at four-month low, MBA says
WASHINGTON (MarketWatch) -- Despite a drop in mortgage rates, applications for mortgages to buy homes fell 4.8% last week to the lowest seasonally adjusted level since last October, the Mortgage Bankers Association reported Wednesday. (Wed, 21 Feb 2007 12:08:56 GMT)

US MBA Mortgage Survey Table Of Current Interest Rates
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 6.37 0.88 6.19 -5 -3 -3 15-Year Fixed 6.14 1.03 5.88 -6 -5 1 7-Year Balloon 5.60 1.04 5.34 3 2 -60 5-Year Balloon 6.22 0.96 5.98 5 13 -25 ARM, 1-Yr Tsy 6.03 0.88 5.81 1 -10 21 FHA 203 (b) 6.45 1.07 6.27 -8 -5 11 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 21 Feb 2007 12:10:01 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, 21 Feb 2007 12:29:01 GMT)

7 sentenced in mortgage flipping case
Despite sometimes tearful pleas for leniency, defendants sentenced Tuesday in a mortgage flipping scheme didn't show much remorse, said a U.S. District Court judge. (Wed, 21 Feb 2007 12:31:45 GMT)

Mortgage applications at lowest mark of '07
Weekly activity index falls more than 5 percent, even as interest rates tumble, industry trade group reports. (Wed, 21 Feb 2007 12:33:48 GMT)

Vestin Realty Mortgage II, Inc. Declares Monthly Dividend of $0.05 Per Share for the Month Ended February 28, 2007
LAS VEGAS----Vestin Realty Mortgage II, Inc. announced that on February 20, 2007, its Board of Directors declared a cash dividend of $0.05 per common share for the month ended February 28, 2007, payable on March 26, 2007 to shareholders of record as of March 9, 2007. (Wed, 21 Feb 2007 13:00:00 GMT)

Refinancing a piggyback-mortgage loan
Dear Dr. Don, I recently learned that my credit union is offering a 100 percent mortgage available at a rate of 7 percent. I currently have an 80/20 mortgage on my home. (Wed, 21 Feb 2007 14:08:09 GMT)

Home loan demand is lowest this year, despite drop in mortgage rates
Mortgage applications dropped more than 5% last week, hitting their lowest level this year, even as interest rates fell, an industry trade group said Wednesday. (Wed, 21 Feb 2007 14:36:01 GMT)

7 sentenced in Mississippi mortgage flipping case
HATTIESBURG, Miss. Seven people, including the man who prosecutors have called the alleged ringleader of a mortgage fraud scheme, have been sentenced by a federal... (Wed, 21 Feb 2007 15:34:44 GMT)

Home loan demand drops to lowest this year
U.S. mortgage applications dropped more than 5 percent last week to their lowest level this year even as interest rates fell, an industry trade group said on Wednesday. (Wed, 21 Feb 2007 15:54:37 GMT)

Hilton Garden Inn refinance deal given tentative approval
Detroit's Downtown Development Authority tentatively approved a deal Wednesday that will let Cleveland-based developer John Ferchill refinance the debt on his Hilton Garden Inn downtown. (Wed, 21 Feb 2007 16:17:29 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, 21 Feb 2007 16:35:51 GMT)

Student Financial Advisors Announces Help for First Time Home Buyers with Student Loans
Student loan debt can have a negative effect on a home buyers debt to income ratio. Student Financial Advisors announces the opening of its first time home buyers assistance program. (Wed, 21 Feb 2007 17:12:00 GMT)

Fed official: Subprime mortgage market 'problematic'
Federal Reserve Governor Susan Bies said the mortgage market for borrowers with poor credit is behaving in a "very problematic way," though the broader banking industry will probably avoid a crisis. (Wed, 21 Feb 2007 17:25:59 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, 21 Feb 2007 17:39:42 GMT)

Rock Hill mortgage office to lay off 250 workers
FORT MILL, S.C. -- A mortgage company in York County says it is eliminating 250 jobs because of the slowdown in the national housing market. Wells Fargo Home Mortgage officials said yesterday changing market conditions forced the cuts. (Wed, 21 Feb 2007 18:13:30 GMT)

Consumer warning: Home foreclosure nightmares 1:11 PM
Home foreclosures in North Carolina are at an all time high. Some experts blame high risk and deceptive loan practices. As homeowners rush to save their homes, we discovered that too often they are turning to the wrong places for help. (Wed, 21 Feb 2007 18:29:36 GMT)

Student Financial Advisors Announces Help for First Time Home Buyers with Student Loans
Student loan debt can have a negative effect on a home buyers debt to income ratio. Student Financial Advisors announces the opening of its first time home buyers assistance program. (PRWeb Feb 21, 2007) Post Comment:Trackback URL: http://www.prweb.com/zingpr.php/VGhpci1IYWxmLU1hZ24tSG9yci1NYWduLVplcm8= (Wed, 21 Feb 2007 18:47:28 GMT)

Federal Home Loan Bank names Czar
The Federal Home Loan Bank of Dallas has appointed Jay J. Czar to its Advisory Council. The Advisory Council is comprised of 14 representatives from state, community and nonprofit organizations who advise the bank's board of directors on affordable housing and economic development issues. (Wed, 21 Feb 2007 19:18:54 GMT)

Rock Hill mortgage office to lay off 250 workers
(Fort Mill-AP) February 21, 2007 - A mortgage company in York County says it is eliminating 250 jobs because of the slowdown in the national housing market. (Wed, 21 Feb 2007 19:22:26 GMT)

Could Tremors in the Subprime Mortgage Market Be the First Signs of an Earthquake?
For months, the steady drip of news about troubles in the subprime mortgage market didn't seem too bad, and many economists started to feel reassured about the health of the general housing market. But now some experts wonder whether those feelings of reassurance came too soon. Some suggest that the growing number of borrower defaults in the "aggressive lending" market, which includes various ... (Wed, 21 Feb 2007 20:01:06 GMT)

Man sentenced in mortgage fraud
Troy Clements, former operator of the Springdale mortgage firm, American Funding, was sentenced to 24 months in prison Wednesday in U.S. District court for his role in defrauding mortgage lenders out of $2.3 million. (Wed, 21 Feb 2007 20:03:42 GMT)

John H. Ellis Appointed to Board of Federal Home Loan Bank of Boston
The Federal Home Loan Bank of Boston is pleased to announce the appointment of John H. Ellis, director of Bank Newport, located in Newport, Rhode Island, to the Bank's board of directors. (Wed, 21 Feb 2007 20:17:00 GMT)

Subprime Mortgage Bond Derivatives Fall After NovaStar's Loss
Feb. 21 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds rose to a record after NovaStar Financial Inc. reported an unexpected loss for the fourth quarter, according to an index of credit-default swaps. (Wed, 21 Feb 2007 20:36:15 GMT)

Federal Home Loan Bank of Atlanta Announces 2006 Operating Highlights and First Quarter 2007 Dividend Guidance
The Federal Home Loan Bank of Atlanta today announced financial results for the year ended December 31, 2006, as well as dividend guidance for the first quarter of 2007. (Wed, 21 Feb 2007 21:30:00 GMT)

Subprime Mortgage Bond Derivatives Fall After NovaStar's Loss
Feb. 21 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds rose to a record after NovaStar Financial Inc. reported an unexpected loss for the fourth quarter, according to an index of credit-default swaps. (Wed, 21 Feb 2007 21:51:05 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Wed, 21 Feb 2007 22:13:19 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, 21 Feb 2007 22:13:49 GMT)

Federal Home Loan Bank of Seattle CEO leaving
The president and CEO of the Federal Home Loan Bank of Seattle, James Gilleran, will leave the bank on April 30 and will be replaced by Richard Riccobono. (Wed, 21 Feb 2007 22:26:51 GMT)

Lax lending standards already haunt mortgage lenders, but who's next?
NEW YORK (AP) -- The implosion of the subprime mortgage market should be a stark reminder to investors about the risks of lax lending standards fueling the corporate buyout boom. (Wed, 21 Feb 2007 22:46:24 GMT)

Wells cuts 70 East Bay mortgage jobs
Wells Fargo & Co. is cutting 70 jobs in its Concord subprime mortgage office. (Wed, 21 Feb 2007 23:07:06 GMT)

Wells cuts 70 East Bay mortgage-servicing jobs
Wells Fargo & Co. is cutting 70 jobs in its Concord subprime mortgage-servicing office. (Wed, 21 Feb 2007 23:11:00 GMT)

Private-Public Mortgage Association Formed In Mexico
MEXICO CITY -(Dow Jones)- Mexico's government-backed housing fund and mortgage development bank joined private financial institutions Wednesday to form a new association with a goal of keeping the country's housing boom on track. (Thu, 22 Feb 2007 01:23:51 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, 22 Feb 2007 02:03:48 GMT)

Federal Home Loan Bank CEO to step down in April
The Federal Home Loan Bank of Seattle said President and Chief Executive James Gilleran will leave the bank April 30. (Thu, 22 Feb 2007 05:28:07 GMT)

100% Single Loan Financing with No Mortgage Insurance, Now Available to Real Estate Investors
100 percent single-loan financing with no mortgage insurance is now available to real estate investors. (Thu, 22 Feb 2007 07:01:00 GMT)

Do You Have Credit Problems? 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. (Thu, 22 Feb 2007 07:27:51 GMT)

Mortgage broker gets 87 months for fraud
A mortgage scam that pushed 83 Indianapolis houses into foreclosure has led to an 87-month prison sentence for loan broker Romero Brice. (Thu, 22 Feb 2007 07:49:19 GMT)

Proposal would expand mortgage oversight
Buying a house and signing mortgage papers can be one of life's most stressful times. (Thu, 22 Feb 2007 08:11:53 GMT)

100% Single Loan Financing with No Mortgage Insurance, Now Available to Real Estate Investors
100 percent single-loan financing with no mortgage insurance is now available to real estate investors. (PRWeb Feb 22, 2007) Post Comment:Trackback URL: http://www.prweb.com/zingpr.php/U3F1YS1IYWxmLVpldGEtSG9yci1NYWduLVplcm8= (Thu, 22 Feb 2007 08:14:14 GMT)

Subprime Mortgage Bust Could Make Trouble for Google
Faisal Laljee submits: As you are aware, Google and Yahoo have cashed in big time from the mortgage boom. Direct lenders, conventional banks and lead aggregators like Lending Tree, Nextag and LowerMyBills.com have all paid top dollar to drive online traffic to their site. (Thu, 22 Feb 2007 09:04:31 GMT)

Va. Authority Hits 1,000th Habitat Loan
The Virginia Housing Development Authority is servicing its 1,000th Habitat for Humanity Virginia home loan. (Thu, 22 Feb 2007 10:12:20 GMT)

Two years in prison for mortgage fraud
Troy S. Clements, former operator of a Springdale mortgage firm, was sentenced to 24 months in prison for his role in defrauding mortgage lenders out of $2.3 million. (Thu, 22 Feb 2007 10:26:50 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Thu, 22 Feb 2007 10:33:06 GMT)

Mortgage fraud flourishes in down markets
As long as the market stays in the doldrums mortgage fraud will continue to thrive, financially damaging not only buyers, sellers and lenders, but even neighbors. (Thu, 22 Feb 2007 11:00:00 GMT)

Mortgage rates fall as inflation rises
Mortgage rates dropped this week, even as the government was reporting that inflation is running higher than expected. (Thu, 22 Feb 2007 11:00:00 GMT)

Tips to avoid mortgage fraud
Mortgage fraud is running rampant across the U.S., posing potential financial damage or ruin to homeowners and even the local community. Here are some tips to help you avoid it. (Thu, 22 Feb 2007 11:00:00 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, 22 Feb 2007 11:16:25 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, 22 Feb 2007 11:19:56 GMT)

$25,000 home grants available
PASCAGOULA -- A $250,000 grant is available to help 10 Pascagoula families become homeowners. The City Council entered the grant agreement with Housing and Finance Services, LLC, this week, which will help families pay for their down payment, closing costs and other traditional home loan-type fees. (Thu, 22 Feb 2007 11:35:05 GMT)

Mortgage fraud flourishes in down markets
The current real estate market condition provides an excellent backdrop for mortgage fraud. As long as the market stays in the doldrums, mortgage fraud will continue to thrive, say experts. It can creep into any neighborhood and hurt not only buyers, sellers and lenders, but even neighbors. (Thu, 22 Feb 2007 12:37:09 GMT)

How to avoid mortgage fraud
Mortgage fraud is running rampant across the U.S., posing potential financial damage or ruin to homeowners and even the local community. The FBI has reported that the illegal activity can have a domino effect on the local housing market and the economy at large. (Thu, 22 Feb 2007 12:37:18 GMT)

Rising default rates hitting subprime mortgage industry hard
Rising default rates and the related financial troubles of mortgage companies could hurt a broad segment of the American housing market. (Thu, 22 Feb 2007 13:19:59 GMT)

Mortgage rates hold at 5.875%
Home mortgage rates held below 6 percent again this week, with some downward pressure as the two largest banks quoted lower rates than the other lenders. (Thu, 22 Feb 2007 14:10:55 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, 22 Feb 2007 15:03:36 GMT)

Mortgage rates fall on housing market slowdown
Mortgage rates fell in the past week as lenders showed concern for the effect the slowing housing market would have on the economy, according to a survey released Thursday. (Thu, 22 Feb 2007 16:03:48 GMT)

Mortgage rates fall under year-ago level
CHICAGO (MarketWatch) -- Mortgage rates moved downward this week, as concerns brewed over how much the slowing housing market will influence economic growth, according to Freddie Mac's vice president and chief economist. (Thu, 22 Feb 2007 16:09:17 GMT)

HSBC U.S. Head Mehta Resigns After Loan Losses Jump (Update2)
Feb. 22 (Bloomberg) -- HSBC Holdings Plc, Europe's biggest bank by market value, said Bobby Mehta stepped down as head of the North American unit after it posted higher-than-estimated losses on U.S. home loans. (Thu, 22 Feb 2007 17:05:55 GMT)

Subprime U.S. mortgage default rate up
Rising loan default rates among borrowers with spotty credit are hurting the U.S. subprime mortgage business, a published report said. Defaults and related ... (Thu, 22 Feb 2007 17:09:27 GMT)

HSBC's US boss departs amid mortgage woes
HSBC said Thursday the head of its US banking operations had resigned, days after the global banking giant warned it faced a liability of over 10 billion dollars on risky mortgage lending. (Thu, 22 Feb 2007 17:50:49 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Thu, 22 Feb 2007 18:22:06 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, 22 Feb 2007 18:55:53 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. (Thu, 22 Feb 2007 19:29:04 GMT)

Subprime Mortgage Derivatives Extend Drop on Moody's Reviews
Feb. 22 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds rose to a record for a fifth day after Moody's Investors Service said it may cut the loan servicing ratings of five lenders. (Thu, 22 Feb 2007 20:36:05 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, 22 Feb 2007 21:02:39 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, 22 Feb 2007 21:16:26 GMT)

Sector Wrap: Subprime Mortgage Lenders
Shares of mortgage banks that loan to home buyers with bad credit weakened further Thursday after a credit rating agency said it may cut its rating on how dependably five lenders can collect payments. (Thu, 22 Feb 2007 21:49:37 GMT)

Subprime Mortgage Derivatives Extend Drop on Moody's Reviews
Feb. 22 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds rose to a record for a fifth day after Moody's Investors Service said it may cut the loan servicing ratings of five lenders. (Thu, 22 Feb 2007 21:50:55 GMT)

Federal Home Loan Bank of Boston Announces 2006 Operating Highlights and Declares Dividend
The Federal Home Loan Bank of Boston announced the following: (Thu, 22 Feb 2007 22:01:00 GMT)

30-Year Fixed Mortgage Rates Slide
Rates on 30-year mortgages fell this week to the lowest level in six weeks. The mortgage company Freddie Mac reported on Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent this week compared with 6.30 percent last week. (Thu, 22 Feb 2007 22:06:32 GMT)

Mortgage rates drop on concerns about housing market weakness
Rates on 30-year mortgages fell this week to the lowest level in six weeks. Analysts said the drop reflected in part weakness in the housing industry. (Thu, 22 Feb 2007 22:18:55 GMT)

Mortgage Rates Drop to Lowest Level in Six Weeks
Rates on 30-year mortgages dropped to their lowest level in six weeks, a mortgage company said Thursday. (Thu, 22 Feb 2007 22:27:25 GMT)

30-Year Fixed Mortgage Rates Slide
WASHINGTON -- Rates on 30-year mortgages fell this week to the lowest level in six weeks. (Thu, 22 Feb 2007 22:39:42 GMT)

H&R Block swings to a loss on mortgage business
SAN FRANCISCO (MarketWatch) -- H&R Block on Thursday said it swung to a third-quarter loss on costs tied to its mortgage business as it set plans to disclose details of a possible sale of the ailing unit in March. (Thu, 22 Feb 2007 22:54:06 GMT)

H&R Block Posts Loss on Subprime Mortgage Unit's Woes (Update4)
Feb. 22 (Bloomberg) -- H&R Block Inc., the largest U.S. tax preparer, posted a fiscal third-quarter loss after setting aside an additional $111 million to cover losses on loans underwritten by its Option One subprime mortgage business. (Thu, 22 Feb 2007 23:19:32 GMT)

H&R Block Posts Loss on Subprime Mortgage Unit's Woes (Update5)
Feb. 22 (Bloomberg) -- H&R Block Inc., the largest U.S. tax preparer, posted a fiscal third-quarter loss after setting aside an additional $111 million to cover losses on loans made by its Option One mortgage business. (Fri, 23 Feb 2007 00:19:49 GMT)

Federal Home Loan Bank of Boston Announces 2006 Operating Highlights and Declares Dividend
BOSTON, Feb. 22 /PRNewswire/ -- The Federal Home Loan Bank of Boston (the Bank) announced the following:Total assets were $57. (Fri, 23 Feb 2007 00:42:40 GMT)

H&R Block posts Q3 loss on mortgage woes
H&R Block Inc. , the largest U.S. income tax preparer, reported a quarterly net loss on Thursday, weighed down by the subprime mortgage unit it has put up for sale, but revenue from its tax and banking businesses rose sharply. (Fri, 23 Feb 2007 01:19:05 GMT)

N.Z. Treasury Stops Work on Proposed Mortgage Levy (Update1)
Feb. 23 (Bloomberg) -- New Zealand's Treasury Department abandoned a proposal to impose a levy on mortgage payments to cool the housing market after opposition lawmakers said they wouldn't support the idea. (Fri, 23 Feb 2007 05:08:17 GMT)

Bill would expand mortgage oversight
Buying a house and signing mortgage papers can be one of life's most stressful times. (Fri, 23 Feb 2007 08:27:51 GMT)

H&R Block Swings to Q3 Loss on Subprime Mortgage Business
Tax preparer H&R Block posted a Q3 loss yesterday on the back of writedowns at Option One, its subprime mortgage lending arm. Option One lost $69.7 million in the quarter versus a gain of $42.4 million a year ago as delinquencies surged. (Fri, 23 Feb 2007 08:40:33 GMT)

Cops slam door on housing con, nab 6 in home swindle
Two Brooklyn lawyers working with four accomplices from Nassau allegedly stole a house from a Queens woman in a mortgage refinancing scheme, prosecutors said yesterday. (Fri, 23 Feb 2007 09:30:38 GMT)

Teachers to get home help under new Gibbons plan
Gov. Jim Gibbons said Thursday his Teachers' First Home Loan Program would give high priority to first-time homebuyer mortgage money for qualified teachers. (Fri, 23 Feb 2007 10:03:15 GMT)

Impac Mortgage Holdings, Inc. Reports Net (Loss) Earnings of $(66.3) Million for 2006 Compared to $270.3 Million for ...
Impac Mortgage Holdings, Inc. , a real estate investment trust , today reported a net of $ million or $ per diluted common share for 2006, as compared to net earnings of $270.3 million, or $3.35 per diluted common share for 2005. (Fri, 23 Feb 2007 11:14:00 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, 23 Feb 2007 11:46:25 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. (Fri, 23 Feb 2007 11:46:35 GMT)

Impac Mortgage Holdings, Inc. Reports Net (Loss) Earnings of $(66.3) Million for 2006 Compared to $270.3 Million for ...
IRVINE, Calif., Feb. 22 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings, Inc. (Fri, 23 Feb 2007 12:27:10 GMT)

Mortgage rates dip to six-week low
Rates on 30-year mortgages fell this week to the lowest level in six weeks. Mortgage company Freddie Mac said yesterday that 30-year, fixed-rate mortgages averaged 6.22 percent this week compared with 6.30 percent last week. (Fri, 23 Feb 2007 12:32:04 GMT)

Impac Mortgage Slides to Full-Year Loss
Real estate investment trust Impac Mortgage Holdings Inc. said Friday it swung to a fourth-quarter loss from year-ago profit, mainly due to squeezed margins, as borrowings repriced more quickly than adjustable mortgage assets. (Fri, 23 Feb 2007 13:05:32 GMT)

Mortgage woes hit on H&R Block profit
H&R Block Inc., the largest U.S. income tax preparer, reported a quarterly net loss on Thursday, weighed down by the subprime mortgage unit it has put up for sale, but revenue from its tax and banking businesses rose sharply. (Fri, 23 Feb 2007 14:28:32 GMT)

Mortgage rates hold at 5.875%
Home mortgage rates held below 6 percent again this week, with some downward pressure as the two largest banks quoted lower rates than the other lenders. (Fri, 23 Feb 2007 15:09:51 GMT)

Don't be duped by mortgage brokers when refinancing your home
An area woman says she's about to lose her house, and she blames it on predatory lenders. She's one of thousands of people who are facing foreclosure after being duped by mortgage brokers, but there are some things you can do to protect yourself. (Fri, 23 Feb 2007 16:08:08 GMT)

Mortgage rates drop
Rates on 30-year mortgages fell this week to the lowest level in six weeks. The mortgage company Freddie Mac reported on Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent this week compared with 6.30 percent last week. (Fri, 23 Feb 2007 16:15:54 GMT)

Bank cancels loan after mix-up on credit report
One out of every five consumers has an error on their credit report. Some of those mistakes could cost you a home loan, car loan, or even your child's education. That's happened to a family in Austin, Indiana, when a credit report mistake forced their son to leave college. So they called Troubleshooter Charla Young to get results. (Fri, 23 Feb 2007 16:34:40 GMT)

Mortgage Lenders Fined For Deceptive Business Practices
Two mortgage lenders in Maine have paid more than $44,000 in restitution and penalties as part of a settlement with the state for violations of state laws. (Fri, 23 Feb 2007 17:14:42 GMT)

Commissioners approve $250,000 loan for pet store
LOCK HAVEN — The Clinton County commissioners have approved a $250,000 loan from the Clinton County Revolving Loan Fund for the purchase and renovations to the former Renninger Home Center, Mill Hall. (Fri, 23 Feb 2007 17:52:34 GMT)

Chase develops new home-equity program in Texas
Chase Bank, one of the country's largest residential home lenders, is unveiling a new home-equity loan product in the Texas market. (Fri, 23 Feb 2007 17:59:23 GMT)

Subprime Mortgage Risk Rises for a Fifth Week, Derivatives Show
Feb. 23 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds rose again, heading for the fifth straight weekly increase, as companies that lend to the riskiest borrowers continued to report losses. (Fri, 23 Feb 2007 18:50:55 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, 23 Feb 2007 19:18:59 GMT)

Stocks drop; mortgage default woes hit bank stocks
Stocks fell for a third straight session on Friday as concern over rising defaults in the subprime mortgage industry sent financial services shares for their worst drop in a month. (Fri, 23 Feb 2007 19:45:18 GMT)

Subprime Mortgage Risk Rises for a Fifth Week, Derivatives Show
Feb. 23 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds surged, heading for the fifth straight weekly increase, as companies that lend to the riskiest borrowers continued to report losses. (Fri, 23 Feb 2007 20:06:06 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, 23 Feb 2007 20:16:16 GMT)

Franklin Credit Buys Mortgage Operation
Consumer finance company Franklin Credit Management Corp. said Friday its Tribeca Lending subsidiary bought New York Mortgage Company's wholesale mortgage operation. (Fri, 23 Feb 2007 20:49:06 GMT)

Stocks end lower on mortgage worries
Stocks ended down for a third day on Friday, giving the Dow Jones industrial average its worst week since August, as worries over rising defaults in the subprime mortgage industry sent financial services shares lower. (Fri, 23 Feb 2007 21:17:00 GMT)

Subprime Mortgage Risk Rises for a Fifth Week, Derivatives Show
Feb. 23 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds surged, rising for a fifth week, as companies that lend to the riskiest borrowers continued to report losses. (Fri, 23 Feb 2007 22:20:59 GMT)

Stocks drop on mortgage defaults
Stocks fell for a third straight session on Friday as concern over rising defaults in the subprime mortgage industry drove financial services shares down for their worst drop in a month and the price of oil hit a 2007 high. (Fri, 23 Feb 2007 22:41:06 GMT)

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