Mortgage News Feb 2007

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Stocks fall on mortgage defaults
Stocks fell for a third straight session on Friday as concern over rising defaults in the subprime mortgage industry drove down financial services shares and the price of oil hit a 2007 high. (Fri, 23 Feb 2007 22:50:20 GMT)

Index of subprime mortgage derivatives plunges on sector woes
SAN FRANCISCO (MarketWatch) -- A closely watched index that tracks risky subprime mortgage derivatives plunged to record lows this week on concern about growing problems in the market for low-end home loans. (Fri, 23 Feb 2007 23:08:56 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. (Fri, 23 Feb 2007 23:33:35 GMT)

Hong Kong Residential Mortgage Loans Fall In January
(RTTNews) - In January, the residential new mortgage loans availed in Hong Kong fell 19.4% to HK$11.3 billion, the Hong Kong Monetary Authority said Friday. While the number of new applications rose 18.4%, approvals declined 6.4% to HK$12.5 billion. (Sat, 24 Feb 2007 00:37:57 GMT)

Broker Pleads Guilty To Mortgage Fraud
A Lawson, Mo., mortgage broker pleads guilty in federal court to being part of a scheme that obtained federally insured loans using fraudulent documents and property appraisals. (Sat, 24 Feb 2007 03:04:46 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? (Sat, 24 Feb 2007 03:40:52 GMT)

David Hendricks: Tougher mortgage fraud penalties eyed
Mortgage fraud is on the rise, and the Texas Legislature may take a giant step to squash it. (Sat, 24 Feb 2007 04:35:10 GMT)

All types of mortgage rates dip
WASHINGTON - Rates on 30-year mortgages fell this week to the lowest level in six weeks. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent this week, compared with 6.30 percent last week. (Sat, 24 Feb 2007 05:58:45 GMT)

Annual mortgage checkups should be part of your financial plan
Television bombards us with advertisements telling us to call our doctors and have our symptoms checked. Well, we are here to tell you that an annual mortgage checkup is essential for your financial health. You might ask why. (Sat, 24 Feb 2007 06:03:45 GMT)

If You Have an Adjustable Rate Mortgage, Refinance Now
(ARA) - With gas prices in a state of constant flux, and warnings that energy costs will be on the rise this winter, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Sat, 24 Feb 2007 07:43:21 GMT)

Realty Bites:
Default notices continue to rise, a statewide mortgage association is warning homeowners about refinancing to pay off holiday debt and a large real estate company is reaching out to Spanish speakers. (Sat, 24 Feb 2007 07:51:43 GMT)

LENDING TACTIC: Refuse to accept low appraisals
Q. I saw your recent item about the abnormally low appraisal on a condo refinance. As I recall, the lender's appraiser estimated a market value $157,000 below the value set by another appraiser hired by the condo owner. I had a similar experience with a major nationwide lender. Since I have a 745 FICO score and good income, my qualifications for the refinanced 75 percent loan-to-value mortgage ... (Sat, 24 Feb 2007 08:06:59 GMT)

Bills call for licensing mortgage lenders
Two state lawmakers plan to introduce bills on Monday that would require mortgage lenders in Colorado to be licensed, as well as other requirements designed to "put some teeth" into measures to help stem the foreclosure tide sweeping the state. (Sat, 24 Feb 2007 08:23:50 GMT)

No Social Security number, no mortgage? Bill says "yes"
New legislation on Capitol Hill seeks to curb an increasingly popular mortgage concept: providing home loans to applicants using their Individual... (Sat, 24 Feb 2007 08:26:39 GMT)

Another guilty plea in mortgage fraud
A third co-defendant in the Jeffrey Miller mortgage fraud case has pleaded guilty in federal court. James Sparks, 35, of Lawson, faces up to five years in prison and $250,000 in fines after pleading guilty Friday to one count of conspiracy to commit mortgage fraud, federal prosecutors said. (Sat, 24 Feb 2007 08:26:48 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. (Sat, 24 Feb 2007 10:33:35 GMT)

New York Mortgage Trust may seek buyer
New York Mortgage Trust Inc. Co-Chief Executive Officer David Akre said Friday that the lending downturn over the past three years contributed to the recent decision to sell off its lending businesses, and that the real estate investment trust continues to seek "strategic options," such as a sale or merger of the remaining company. (Sat, 24 Feb 2007 13:04:33 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. (Sat, 24 Feb 2007 13:11:03 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. (Sat, 24 Feb 2007 13:24:11 GMT)

New York Mortgage Trust may seek buyer
New York Mortgage Trust Inc. Co-Chief Executive Officer David Akre said Friday that the lending downturn over the past three years contributed to the recent decision to sell off its lending businesses, and that the real estate investment trust continues to seek "strategic options," such as a sale or merger of the remaining company. (Sat, 24 Feb 2007 15:19:44 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. (Sat, 24 Feb 2007 16:34:21 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? (Sat, 24 Feb 2007 16:48:03 GMT)

Shifting housing market snubs bad credit
Homeowners with troubled credit histories are finding it harder to get mortgages or refinance homes because softening in the housing market is making lenders less likely to handle riskier loans. (Sat, 24 Feb 2007 17:18:05 GMT)

30-year mortgage rates lowest in six weeks
WASHINGTON (AP) - 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. (Sat, 24 Feb 2007 17:24:11 GMT)

3rd person charged in $4.2 million mortgage fraud
INDIANAPOLIS - Two men who authorities said lined up properties or investors in a multimillion dollar mortgage-fraud scheme were sentenced to prison. (Sat, 24 Feb 2007 18:38:25 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. (Sat, 24 Feb 2007 22:20:18 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. (Sun, 25 Feb 2007 03:20:57 GMT)

Subprime mortgage issues highlight pressing problems for home buyers
HARTFORD, Conn. - Homeowners with troubled credit histories are finding it harder to get mortgages or refinance homes because softening in the housing market is making lenders less likely to handle riskier loans. (Sun, 25 Feb 2007 04:54:00 GMT)

Mortgage company shut down
Regulators have shut down Mesa-based Eagle First Mortgage and its more than 75 Valley branches, citing illegal lending practices.{b} Special investigation (Sun, 25 Feb 2007 08:12:53 GMT)

Home calendar
My Future -- My Home: Talk to professional housing counselors about what you can do to preserve home ownership for your family's future. Topics include budgeting, credit and choosing the right mortgage. 7 p.m. Wed., Oakland Livingston Human Service Agency, 345 E. Nine Mile in Ferndale. Free. Call 248-858-5402, or visit http://oakgov.com/chi for information. (Sun, 25 Feb 2007 08:23:33 GMT)

Broker pleads guilty to mortgage fraud
KANSAS CITY, Kan. (AP) – A Missouri mortgage broker pleaded guilty to conspiracy to commit mortgage fraud. Thirty-five-year-old James Sparks, of Lawson, Missouri, 35, told a federal judge that he was paid commissions to serve as broker for 17 home loans. (Sun, 25 Feb 2007 09:00:52 GMT)

SUBPRIME MORTGAGE LENDERS FACING ROUGH TIMES
HARTFORD, Conn. - Homeowners with troubled credit histories are finding it harder to get mortgages or refinance homes because softening in the housing market is making lenders less likely to handle riskier loans. Several lenders of subprime... (Sun, 25 Feb 2007 10:32:20 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Sun, 25 Feb 2007 10:34:05 GMT)

Mortgage rates hit 6-week low
WASHINGTON – Rates on 30-year mortgages fell last week to the lowest level in six weeks. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent last week compared with 6.3 percent the previous week. (Sun, 25 Feb 2007 11:10:08 GMT)

Refinancing Can Relieve Your Car Payment Burdens
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Sun, 25 Feb 2007 12:20:39 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. (Sun, 25 Feb 2007 12:21:49 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. (Sun, 25 Feb 2007 13:11:13 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. (Sun, 25 Feb 2007 13:15:57 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. (Sun, 25 Feb 2007 14:06:58 GMT)

Lawmaker proposes bill for NMC loan
A lawmaker has proposed a bill to the Legislature that would allow the cash-strapped Northern Marianas College to enter into a loan for its campus renovation. (Sun, 25 Feb 2007 14:09:52 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. (Sun, 25 Feb 2007 17:32:54 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. (Sun, 25 Feb 2007 17:41:40 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. (Sun, 25 Feb 2007 18:33:36 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. (Sun, 25 Feb 2007 18:33:46 GMT)

Social Security Number As Mortgage Prerequisite
New legislation on Capitol Hill seeks to curb an increasingly popular mortgage practice: providing home loans to applicants using their Individual Taxpayer Identification Numbers (ITIN), in lieu of Social Security numbers. (Sun, 25 Feb 2007 20:01:05 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Mon, 26 Feb 2007 00:11:17 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. (Mon, 26 Feb 2007 00:11:27 GMT)

Mortgage company shut down for illegal transactions
Regulators have shut down a Mesa-based mortgage company and its more than 75 branches in the Phoenix metro area. The Arizona Department of Financial Institutions pulled the license of Eagle First Mortgage and its broker, David Sanchez. (Mon, 26 Feb 2007 00:45:01 GMT)

Thrashers mortgage future to stop plunge
The Atlanta Thrashers are no longer worrying about the future. They don't want to wait 'til next year anymore. It's time to make the playoffs. With their second deal in two days, the slumping Thrashers acquired rugged forward Keith Tkachuk from the St. Louis Blues on Sunday, giving up right wing Glen Metropolit, a first-round pick in 2007 and two other draft choices. (Mon, 26 Feb 2007 00:46:27 GMT)

Homeowners Caught in Double Bind
Residential mortgage lenders are tightening underwriting criteria for people with blemished credit as thousands of homeowners are defaulting on their mortgages. (Mon, 26 Feb 2007 05:12:48 GMT)

New Riverside Mortgage owner plans to add nearly 200 workers
Robert Liberty has big plans for the mortgage brokerage business he bought late last year. (Mon, 26 Feb 2007 05:17:10 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? (Mon, 26 Feb 2007 05:52:09 GMT)

Mortgage lenders taking less risk
Homeowners with troubled credit histories are finding it harder to get mortgages or refinance homes because softening in the housing market is making lenders less likely to handle riskier loans. (Mon, 26 Feb 2007 06:00:08 GMT)

Fundraiser nets $98,000 to loan for safe water
In 2005 in western Kenya, the community of Boya took out a loan from Water Partners to develop a sustainable system for clean and healthy water. The effect was so dramatic that the community is already looking for more ways to improve its water. (Mon, 26 Feb 2007 06:33:04 GMT)

Adjustable Rate Mortgage 2007: GuideToLenders.com Helps Homeowners Weigh Options
With the prime lending rate on the rise and new resetting interest rates on Adjustable Rate Mortgages in 2007, the first quarter of the year is the best time for homeowners to assess housing costs and mortgage options, reports GuideToLenders.com. (Mon, 26 Feb 2007 07:01:00 GMT)

John Sauro of North Atlantic Mortgage Releases New Audio Book on Amazon, Inside the Mortgage Market
New Audio Book, Inside the Mortgage Market, Tips for Buying and Refinancing Real Estate, Now Available on Amazon (PRWeb Feb 26, 2007) (Mon, 26 Feb 2007 08:03:58 GMT)

Adjustable Rate Mortgage 2007: GuideToLenders.com Helps Homeowners Weigh Options
With the prime lending rate on the rise and new resetting interest rates on Adjustable Rate Mortgages in 2007, the first quarter of the year is the best time for homeowners to assess housing costs and mortgage options, reports GuideToLenders.com. (PRWeb Feb 26, 2007) Post Comment:Trackback URL: http://www.prweb.com/zingpr.php/UGlnZy1TdW1tLVN1bW0tSG9yci1NYWduLVplcm8= (Mon, 26 Feb 2007 08:11:10 GMT)

AdvanceStart.com Announcing a Free Service to Apply for a Secured Loan Online
The UK financial website giving free advice to UK home owners looking for secured loan plans. (PRWeb Feb 26, 2007) Post Comment:Trackback URL: http://www.prweb.com/zingpr.php/SG9yci1QaWdnLVNpbmctQ3Jhcy1JbnNlLVplcm8= (Mon, 26 Feb 2007 08:14:32 GMT)

Project To Take Woman's Home
SPRINGDALE -- Guadalupe Morales lost her husband two years ago. Soon she will lose her home. She doesn't know what to do. (Mon, 26 Feb 2007 08:21:41 GMT)

Mortgage broker scams targeted
The Spanish-speaking mortgage broker offered what seemed like a great deal to Des Plaines homeowner Jose Cortez. Cortez was told he could pay off his credit cards and car loan by simply refinancing his home. (Mon, 26 Feb 2007 10:10:26 GMT)

Effect of prepaying mortgage on taxes
Your goal to be mortgage free isn't a nightmare, says Dr. Don. (Mon, 26 Feb 2007 11:00:00 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, 26 Feb 2007 11:34:15 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. (Mon, 26 Feb 2007 11:35:16 GMT)

Reverse Mortgage of America Opens Branch Office in New York
NEW YORK----Reverse Mortgage of America, a division of Seattle Mortgage Company and one of the nation's leading reverse mortgage lenders, today announces the opening of its New York branch. (Mon, 26 Feb 2007 12:00:00 GMT)

Mortgage Execs Sting Lenders - Mortgage Industry Insider from MortgageDaily.com
Recent boardroom business at mortgage- related companies included two scandals involving former executives, according to http://www.MortgageDaily.com -- the dominant source of online news for the mortgage industry. (Mon, 26 Feb 2007 12:00:00 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? (Mon, 26 Feb 2007 12:01:25 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. (Mon, 26 Feb 2007 12:01:36 GMT)

Effect of prepaying mortgage on taxes
Dear Dr. Don, How would prepaying my mortgage affect my taxes? I've read several articles in reference to "prepaying mortgage" not being a good idea. My dream is to be mortgage free and own my home outright. Is this a nightmare instead of a dream? (Mon, 26 Feb 2007 12:37:38 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, 26 Feb 2007 12:50:48 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. (Mon, 26 Feb 2007 12:52:49 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. (Mon, 26 Feb 2007 13:22:14 GMT)

Credit restrictions eyed for home loans
WASHINGTON - As more Americans default on home loans, federal regulators and members of Congress are looking to place new restrictions on mortgages for people with shaky credit, a move that could make it harder for many people to buy homes or refinance their mortgages. (Mon, 26 Feb 2007 13:56:27 GMT)

Mortgage Execs Sting Lenders - Mortgage Industry Insider from MortgageDaily.com
the dominant source of online news for the mortgage industry. (Mon, 26 Feb 2007 16:09:42 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. (Mon, 26 Feb 2007 16:35:36 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, 26 Feb 2007 16:35:46 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, 26 Feb 2007 17:21:28 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. (Mon, 26 Feb 2007 17:41:13 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. (Mon, 26 Feb 2007 17:41:23 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Mon, 26 Feb 2007 19:10:07 GMT)

Current Mortgage Solutions opens in Hortonville
HORTONVILLE Kevin and Sarah Werner have opened Current Mortgage Solutions LLC in Hortonville. (Mon, 26 Feb 2007 20:15:45 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. (Mon, 26 Feb 2007 20:20:27 GMT)

How to Finance a Fixer-Upper Home
(ARA) - A home that needs a lot of repair is what's known as a "fixer-upper" because it needs to be "fixed up." There are several reasons you might buy a fixer-upper. (Mon, 26 Feb 2007 20:20:37 GMT)

Correction: Subprime Lenders Sector Wrap
In stories Feb. 22 and Feb. 23 about mortgage companies that loan to home buyers with bad credit, The Associated Press erroneously characterized the business model of American Home Mortgage Investment Corp. (Mon, 26 Feb 2007 20:39:11 GMT)

Correction: Subprime Lenders Sector Wrap
In stories Feb. 22 and Feb. 23 about mortgage companies that loan to home buyers with bad credit, The Associated Press erroneously characterized the business model of American Home Mortgage Investment Corp. (Mon, 26 Feb 2007 20:39:11 GMT)

Correction: Subprime Lenders Sector Wrap
In stories Feb. 22 and Feb. 23 about mortgage companies that loan to home buyers with bad credit, The Associated Press erroneously characterized the business model of American Home Mortgage Investment Corp. While a portion of the company's business involves investments in securities backed by subprime mortgage loans, its main focus is on the prime mortgage market. (Mon, 26 Feb 2007 20:48:13 GMT)

First American Announces Launch of Electronic Signing Through EverBank
First American Title Insurance Company announced today that its Lenders Advantage division is now implementing WebSigning, a new application that gives consumers a safe, secure and convenient way to sign and approve mortgage refinance loan documents through the Internet. (Mon, 26 Feb 2007 20:53:00 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? (Mon, 26 Feb 2007 20:54:49 GMT)

Simple Solutions to Home Buying Challenges
(ARA) - Home ownership is central to the American dream. And the good news is, it's a dream that can easily become reality. That's because today's lenders offer a variety of products to fit virtually every borrower's needs, points out Michael A. Drury, senior vice president of mortgage lending for M&T Bank Mortgage Division . Finding the right lending partner can make home buying easy and ... (Mon, 26 Feb 2007 20:55:44 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, 26 Feb 2007 20:56:12 GMT)

Missouri man pleads guilty to mortgage fraud
A Missouri man pleaded guilty Friday to his role in a large area mortgage fraud case. (Mon, 26 Feb 2007 21:04:14 GMT)

Loan program good deal for homebuyers
PRINCETON — USDA Rural Development has been approved to participate in the Chase Home Mortgage single close construction pilot. Participation in the Chase program will make it easier — and more affordable — for homebuyers to finance the construction of a new house. (Mon, 26 Feb 2007 22:16:05 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, 26 Feb 2007 23:31:15 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. (Mon, 26 Feb 2007 23:33:06 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, 26 Feb 2007 23:33:17 GMT)

First American Announces Launch of Electronic Signing Through EverBank
First American Title Insurance Company announced today that its Lenders Advantage division is now implementing WebSigning, a new application that gives consumers a safe, secure and convenient way to sign and approve mortgage refinance loan documents through the Internet. EverBank is the first lender to utilize the WebSigning service. (Tue, 27 Feb 2007 00:53:34 GMT)

US mortgage default fears grow
Treasury prices rose on Monday as fixed income investors sought a safe haven amid fears that repayment problems involving "subprime" US mortgage borrowers could have knock-on effects in the broader $8,000bn mortgage market and beyond. (Tue, 27 Feb 2007 00:55:27 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. (Tue, 27 Feb 2007 01:28:32 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, 27 Feb 2007 01:40:59 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Tue, 27 Feb 2007 02:02:30 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, 27 Feb 2007 02:02:40 GMT)

Credit Restrictions Eyed for Home Loans ; Increase in Defaults Will Make It Harder for People With Shaky Credit to Get ...
As more Americans default on home loans, federal regulators and members of Congress are looking to place new restrictions on mortgages for people with shaky credit, a move that could make it harder for many people to buy homes or refinance their mortgages. (Tue, 27 Feb 2007 02:27:30 GMT)

Silver Hill to Co-Host 'The Mortgage Brokers Forum II' of Small-Balance Commercial Lending in Orlando, April 24-25
Silver Hill Financial, LLC (http://www.silverhillfinancial.com/), a leading national real estate lender specializing in small-balance commercial loans, will co-host 'The Mortgage Brokers Forum II' of Small-Balance Commercial Real Estate Lending in Orlando, April 24 and 25, 2007. The event provides a forum for brokers to interact with lenders and learn emerging strategies to effectively capture ... (Tue, 27 Feb 2007 02:53:09 GMT)

Bill Targets Foreclosures, Mortgage Fraud
State lawmakers are trying to get a handle on Colorado's skyrocketing foreclosure problem. One group is trying to do that by regulating mortgage brokers. (Tue, 27 Feb 2007 02:59:54 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, 27 Feb 2007 03:44:36 GMT)

Block Explores Sale of Mortgage Lending Unit
Kansas City, Mo. (Feb. 27, 2007) - Tax prep giant H&R Block Inc. reported a third-quarter loss last week, pointing to its struggling mortgage lending arm even at the start of a strong beginning to the fourth quarter’s tax season -- where the company makes the bulk of its profits. (Tue, 27 Feb 2007 05:07:34 GMT)

Loan program good deal for homebuyers
PRINCETON — USDA Rural Development has been approved to participate in the Chase Home Mortgage single close construction pilot. Participation in the Chase program will make it easier — and more affordable — for homebuyers to finance the construction of a new house. (Tue, 27 Feb 2007 06:15:24 GMT)

Protect lakeside residents
To the residents on Woods Creek Lake in Lake in the Hills: Imagine our shock when we went to refinance our mortgage and found out as of November, the Federal Emergency Management Agency has zoned all property on the lake a “high risk” flood zone. (Tue, 27 Feb 2007 06:30:19 GMT)

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State regulators shut down mortgage firm
PHOENIX — A Mesa mortgage firm and more than 75 of its branch offices in metropolitan Phoenix have been shut down by state financial regulators. (Tue, 27 Feb 2007 07:09:51 GMT)

Get Extra Cash By Refinancing Your Car
(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, 27 Feb 2007 08:13:11 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, 27 Feb 2007 08:13:31 GMT)

2 bills target home loans
Two leading Colorado legislators hope to combat a record-setting wave of foreclosures by licensing mortgage brokers and penalizing those who recommend home loans that buyers cannot afford. (Tue, 27 Feb 2007 08:22:40 GMT)

ECONOMIC GROWTH: Mortgage issues threaten markets
Growing trouble in the subprime mortgage industry poses the greatest risk to financial markets right now, according to a forecast by the National Association of Business Economics, which polled 47 top economists. (Tue, 27 Feb 2007 08:27:53 GMT)

Markets continue their slides Fears of mortgage defaults overshadowed a record leveraged buyout.
U.S. stocks extended their weeklong slump yesterday as persistent concern about mortgage defaults outweighed the biggest leveraged buyout in history. (Tue, 27 Feb 2007 08:34:36 GMT)

Veteran 'keeper Filan heading home in the summer
Veteran 'keeper Filan heading home in the summer by England (Tue, 27 Feb 2007 08:47:48 GMT)

If You Have an Adjustable Rate Mortgage, Refinance Now
(ARA) - With gas prices in a state of constant flux, and warnings that energy costs will be on the rise this winter, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Tue, 27 Feb 2007 10:34:15 GMT)

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Your Money Matters: Say 'I Do' to Home Buying
(ARA) - Getting married marks a huge milestone for many people who have spent years dreaming about being a husband or wife. Another major milestone that often follows marriage is the first "big" purchase, which is typically buying a home. (Tue, 27 Feb 2007 11:16:15 GMT)

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Mortgage approvals down in January
LONDON (SHARECAST) - Mortgage approvals fell sharply in January, though the British Banking Association said that stripping out one-offs the underlying market remains strong. (Tue, 27 Feb 2007 11:58:33 GMT)

E-LOAN Scores Best Overall in Q1 2007 Keynote Scorecard for Mortgage Web Sites for Third Consecutive Win
PLEASANTON, Calif.----E-LOAN®, an online consumer direct lender, today announced that it has received the highest overall rating for online best practices implementation in the Keynote® Q1 2007 Scorecard for Mortgage Web sites. (Tue, 27 Feb 2007 12:00:00 GMT)

Seattle Mortgage Introduces Lowest Interest Rate Reverse Jumbo Loan on the Market
SEATTLE----Seattle Mortgage , a leader in the reverse mortgage industry, seeks to increase reverse mortgage product options for senior borrowers by offering a lower 2.10% margin option on their proprietary jumbo loan, The Independence Plan. (Tue, 27 Feb 2007 12:00:00 GMT)

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Barclays Aims to Break Top Three in Mexico Mortgage-Bond Market
Feb. 27 (Bloomberg) -- Barclays Capital, which helped arrange its first Mexican mortgage-bond sale in January, aims to become one of the top three underwriters in 2007. (Tue, 27 Feb 2007 12:02:45 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, 27 Feb 2007 12:20:49 GMT)

Your Money Matters: Dealing with Rising Mortgage Interest Rates
(ARA) - Many Americans are asking themselves what they should be doing in the wake of rising, and sometimes, fluctuating mortgage rates. It's an important question because for many Americans their home equity represents the cornerstone of their personal wealth. (Tue, 27 Feb 2007 12:22:01 GMT)

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Monti's pioneers use of light-rail loan program
Mom-and-pop businesses have spent years dreading how much their businesses would suffer when Metro light-rail construction tore up Tempe, yet those merchants have all but ignored a low-interest loan program created for them. (Tue, 27 Feb 2007 13:08:56 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, 27 Feb 2007 13:12:39 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, 27 Feb 2007 13:14:08 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Tue, 27 Feb 2007 13:14:19 GMT)

E-LOAN Scores Best Overall in Q1 2007 Keynote Scorecard for Mortgage Web Sites for Third Consecutive Win
PLEASANTON, Calif., BUSINESS WIRE -- E-LOAN(R), an online consumer direct lender, today announced that it has received the highest overall rating for online best practices implementation in the Keynote(R) Q1 2007 Scorecard for Mortgage Web sites. This is the third consecutive win for E-LOAN. (Tue, 27 Feb 2007 13:36:43 GMT)

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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, 27 Feb 2007 14:36:51 GMT)

Mortgage failures raise worries about US housing market
Those exotic, high-risk mortgages that fueled the US real estate boom are now showing high rates of failure, prompting concerns that the housing market may come crashing down faster than expected. (Tue, 27 Feb 2007 14:41:45 GMT)

Federal Home Loan Bank of Atlanta to Award $1 Million for Housing in Virginia
Federal Home Loan Bank of Atlanta announced today that it will award $1 million in grants in Virginia to help pay for 284 affordable housing units. The funding is part of more than $20.9 million in grants and funding FHLBank Atlanta will award in 12 states and the District of Columbia. (Tue, 27 Feb 2007 14:59:00 GMT)

The Federal Home Loan Bank of Pittsburgh Allocates $24.2 Million for Affordable Housing Program; Community Financial ...
PITTSBURGH----The Federal Home Loan Bank of Pittsburgh has allocated $24.2 million for affordable housing in 2007. This $24.2 million set aside includes $17.15 million for the Affordable Housing Program , $7.64 million for the First Front Door lower-income homeownership grants program and $1 million for a pilot housing rehabilitation grants program. (Tue, 27 Feb 2007 15:45:00 GMT)

Freddie Mac Tightens Mortgage Purchases
Mortgage giant Freddie Mac said Tuesday it will no longer buy high-risk home mortgages that it deems to be highly vulnerable to foreclosure. The surprise move came amid a deteriorating market for subprime loans affected by slumping home prices and rising interest rates (Tue, 27 Feb 2007 15:49:36 GMT)

Subprime Mortgage Index Tumbles an Eighth Day, Derivatives Show
Feb. 27 (Bloomberg) -- The perceived risk of owning low- rated subprime mortgage bonds jumped to a record for an eighth straight day, according to an index of credit-default swaps on 20 securities rated BBB- and created in the second half of 2006. (Tue, 27 Feb 2007 15:51:15 GMT)

Global Bond Risk Soars on U.S. Mortgage Defaults, China Stocks
Feb. 27 (Bloomberg) -- The risk of owning U.S. and European corporate bonds rose the most in 18 months on concern rising mortgage defaults in the U.S. and a slump in Chinese stocks will hurt corporate creditworthiness, credit-default swaps show. (Tue, 27 Feb 2007 16:06:05 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, 27 Feb 2007 16:31:15 GMT)

Sponsored Links
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Treasuries Rise on Emerging-Market Drop, Mortgage Bond Concern
Feb. 27 (Bloomberg) -- Treasuries rose for a third straight day as a drop in emerging-market assets and a rise in the perceived risk of low-rated subprime mortgage bonds bolstered demand for the highest-quality debt securities. (Tue, 27 Feb 2007 16:49:18 GMT)

Federal Home Loan Bank allocates $24M for affordable housing
The Federal Home Loan Bank of Pittsburgh has allocated $24.2 million for affordable housing in 2007. (Tue, 27 Feb 2007 16:50:39 GMT)

Global Bond Risk Soars on U.S. Mortgage Defaults, China Stocks
Feb. 27 (Bloomberg) -- The risk of owning U.S. and European corporate bonds rose the most in 18 months on concern rising mortgage defaults in the U.S. and a slump in Chinese stocks will hurt creditworthiness, according to credit-default swap traders. (Tue, 27 Feb 2007 17:06:08 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, 27 Feb 2007 17:17:28 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, 27 Feb 2007 17:19:36 GMT)

Revolving loan goes to new studio
A $10,000 loan from Red Willow County's reusable loan fund will help a McCook man open a photography studio in downtown McCook. (Tue, 27 Feb 2007 17:49:27 GMT)

What Every Home Buyer Should Ask Themselves
(ARA) - Buying your first home can be a stressful experience, and considering it will most likely be the largest single purchase of your life, it's smart to be educated about the process. (Tue, 27 Feb 2007 18:33:48 GMT)

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