Mortgage News Apr 2007
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Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 25 Apr 2007 09:27:00 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, 25 Apr 2007 10:19:10 GMT)
HK mortgage loan approvals soar 57 pct in March
HONG KONG, April 25 (Reuters) - New mortgage loans approved in Hong Kong surged to HK$16.3 billion (US$2 billion) last month, up 57.4 percent from February, the Hong Kong Monetary Authority said on Wednesday. (Wed, 25 Apr 2007 10:50:16 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 6.40 1.32 6.13 -9 9 -39 15-Year Fixed 6.14 1.27 5.82 -9 5 -35 7-Year Balloon 5.48 0.99 5.23 3 -4 -102 5-Year Balloon 6.02 1.02 5.76 2 -7 -84 ARM, 1-Yr Tsy 5.97 0.73 5.79 -10 -6 -17 FHA 203 (b) 6.41 0.88 6.26 -3 4 -22 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 25 Apr 2007 11:05:02 GMT)
Mortgage applications up as yields fall
WASHINGTON (MarketWatch) -- Applications for new mortgages rose last week for the first time in six weeks as mortgage rates dropped, the Mortgage Bankers Association reported Wednesday. (Wed, 25 Apr 2007 11:08:01 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Wed, 25 Apr 2007 11:08:38 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Wed, 25 Apr 2007 11:27:01 GMT)
Mortgage Funds Dodging Subprime Bullet
According to the Mortgage Bankers Assn., an industry trade group, delinquencies in mortgages of all types rose to about 5% in the fourth quarter of 2006, the highest level of late payments since the second quarter of 2003. Actual foreclosures edged up to 1.2%. In the subprime segment of the market, the scenario was decidedly worse. Delinquency rates rose to 13.3% in the fourth quarter of 2006, ... (Wed, 25 Apr 2007 12:08:41 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Wed, 25 Apr 2007 12:11:41 GMT)
Mortgage applications rebound
Mortgage applications ended their five-week decline last week, according to the latest report by the Mortgage Bankers Association, helped by a decline in interest rates. (Wed, 25 Apr 2007 13:14:14 GMT)
Mortgage applications creep up as rates fall
Mortgage applications rose last week after five straight weekly declines, as lower loan rates fostered home purchases and refinancings, data from an industry trade group said Wednesday. (Wed, 25 Apr 2007 13:28:49 GMT)
Save Money on Your Mortgage
There are a few ways you might be able to save money on the next mortgage you secure. (Wed, 25 Apr 2007 13:29:26 GMT)
Bill Would Renew Home Loan Program To Native Americans
WASHINGTON, D.C. (AP) -- The U.S. House has passed a bill to renew a loan program that's intended to help Native Americans get loans to buy homes. The bill by Oklahoma Congressman Dan Boren would extend the program by five years. (Wed, 25 Apr 2007 13:30:48 GMT)
Bill would renew home loan program to Indians
WASHINGTON, D.C. The U-S House has passed a bill to renew a loan program that's intended to help American Indians get loans to buy homes. The bill by Congressman Dan... (Wed, 25 Apr 2007 13:30:57 GMT)
At TD Canada Trust, buying a new home or refinancing just got more comfortable
With the new legislative changes implemented by the federal government, TD Canada Trust is able to change its minimum down payment requirements, allowing Canadians to purchase a home with as little as 20% down without mortgage default insurance. (Wed, 25 Apr 2007 14:51:00 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? (Wed, 25 Apr 2007 15:54:47 GMT)
Is it Time to Refinance Your Car?
(ARA) - Do you end every month with barely enough cash to pay the bills, and sometimes have to tap into your savings to get by? If so, it's time to re-evaluate your spending habits. (Wed, 25 Apr 2007 16:38:11 GMT)
Patrick seeks crackdown on mortgage fraud, enhanced oversight
Gov. Deval Patrick, reacting to record numbers of people losing their homes, called Wednesday for the criminalization of mortgage fraud, better tracking of foreclosures, and a public education campaign for would-be homeowners. (Wed, 25 Apr 2007 17:28:04 GMT)
Block's mortgage unit will lay off 63 in Jacksonville
H&R Block Inc.'s mortgage subsidiary will lay off 63 workers at its Jacksonville, Fla., office as the parent company phases out the subsidiary. (Wed, 25 Apr 2007 17:42:06 GMT)
Mortgage Funds Dodging Subprime Bullet
Defaults in the subprime mortgage arena raise fears that the malaise might spread. But diversification reins in the risk for bondholders (Wed, 25 Apr 2007 18:29:53 GMT)
Banks plan home loan breather
Public sector banks, which did not raise interest rates on home loans since January, are likely to pass on the benefit of lower capital requirement on loans up to Rs 20 lakh to customers. (Wed, 25 Apr 2007 18:34:02 GMT)
Fitch Reports on How the Housing and Mortgage Market Downturn Could Affect Municipal Credit
NEW YORK----Today Fitch Ratings has issued a report focusing on the potential impact of the housing and mortgage market downturn on municipal credit quality. Titled 'The Emerging Economic Effects of the Housing and Mortgage Market Downturn on Municipal Credit,' the report, which includes fourth-quarter 2006 data, identifies those states and metropolitan statistical areas where housing price ... (Wed, 25 Apr 2007 18:48:00 GMT)
Kbank counts on home-loan 'delivery' to boost business
Kasikornbank has introduced a home-loan ''delivery'' service that allows customers to apply for financing through a special call centre. Chatchai Payuhanaveechai, a first vice-president of Kasikornbank, said customers could reach K-Home Loan Delivery by calling 02-888-8888, ext 55, around the clock. (Wed, 25 Apr 2007 18:55:25 GMT)
Reverse mortgage market doubles
The number of retired people borrowing long term against equity in their home is on the rise. The latest survey of New Zealand's reverse mortgage market shows it has doubled over the past 12 months to more than $200 million. (Wed, 25 Apr 2007 19:36:02 GMT)
Fitch Rates WaMu Mortgage P-T Ctfs $1.57B Series 2007-HY5
NEW YORK----Fitch rates WaMu Mortgage Pass-Through Certificates, series 2007-HY5 classes as follows: (Wed, 25 Apr 2007 20:00:00 GMT)
Four Directors Appointed to the Federal Home Loan Bank of San Francisco's Board of Directors
SAN FRANCISCO----On April 19, 2007, the Federal Housing Finance Board appointed Melinda Guzman, John F. Luikart, Robert F. Nielsen, and John T. Wasley to fill open seats on the Federal Home Loan Bank of San Francisco's Board of Directors. (Wed, 25 Apr 2007 20:43:00 GMT)
Federal Housing Finance Board Appoints Four Public Interest Directors to the Federal Home Loan Bank of Indianapolis ...
INDIANAPOLIS, April 25, 2007 -- On April 25, 2007, the Federal Home Loan Bank of Indianapolis announced the appointment of the following directors to its board. On April 24, 2007, the Federal Housing Finance Board made these appointments. (Wed, 25 Apr 2007 21:00:00 GMT)
Fitch Takes Various Actions on 15 Soundview Home Equity Loan Trust Issues
NEW YORK----Fitch Ratings has taken rating actions on the following Soundview Home Equity Loan Trust Issues: (Wed, 25 Apr 2007 21:37:00 GMT)
Senators Introduce Legislation to Curb Mortgage-Lending Fraud
April 25 (Bloomberg) -- Two U.S. senators, citing a rising number of home foreclosures and consumers struggling with subprime loans, unveiled legislation to stiffen penalties against lenders that commit mortgage fraud. (Wed, 25 Apr 2007 21:54:47 GMT)
Fitch Takes Various Rating Actions on 3 Soundview Home Equity Loan Trust 2nd Lien Transactions
NEW YORK----Fitch affirms 34, downgrades 10 & places 1 RMBS Class on Rating Watch Negative from the following Soundview Home Equity Loan Trust Second Lien Issues: (Wed, 25 Apr 2007 22:05:00 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Wed, 25 Apr 2007 22:15:58 GMT)
Senators Introduce Legislation to Curb Mortgage Fraud (Update1)
April 25 (Bloomberg) -- Two U.S. senators, citing a rising number of home foreclosures and consumers struggling with subprime loans, unveiled legislation to establish stiff penalties for lenders that commit mortgage fraud. (Wed, 25 Apr 2007 22:24:26 GMT)
Mass. Gov. Attacks Mortgage Fraud
Gov. Deval Patrick, reacting to record numbers of people losing their homes, called Wednesday for the criminalization of mortgage fraud, better tracking of foreclosures, and a public education campaign for would-be homeowners. (Wed, 25 Apr 2007 23:11:25 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Wed, 25 Apr 2007 23:19:17 GMT)
Poor Americans hit out at mortgage claims
Many poor American facing unexpectedly high mortgage repayments are hitting back at what they say is unfair treatment. (Thu, 26 Apr 2007 00:26:52 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, 26 Apr 2007 03:04:06 GMT)
OCR up but will it affect mortgage rates?
The Reserve Bank lifted official interest rates today, opening the way for floating mortgage rates to hit double figures for the first time in nearly a decade. (Thu, 26 Apr 2007 03:25:15 GMT)
WaMu Delivers Unprecedented Mortgage Product to Market
SEATTLE----A defining moment in the evolution of the home mortgage has occurred, providing consumers unmatched flexibility, value and simplicity. (Thu, 26 Apr 2007 04:05:00 GMT)
WaMu offers new all-in-one mortgage, home equity loan
Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance. (Thu, 26 Apr 2007 04:07:05 GMT)
WaMu Delivers Unprecedented Mortgage Product to Market
A defining moment in the evolution of the home mortgage has occurred, providing consumers unmatched flexibility, value and simplicity. Today, WaMu (NYSE:WM) introduces WaMu Mortgage PlusTM, a home loan product that combines a ... (Thu, 26 Apr 2007 04:10:34 GMT)
WaMu offers new all-in-one mortgage
The Seattle-based thrift said WaMu Mortgage Plus is designed to help consumers take advantage of changes in their financial needs or market conditions without having to bother with mounds of refinancing paperwork or steep fees. (Thu, 26 Apr 2007 04:33:16 GMT)
WaMu Delivers Unprecedented Mortgage Product to Market
A defining moment in the evolution of the home mortgage has occurred, providing consumers unmatched flexibility, value and simplicity. (Thu, 26 Apr 2007 05:38:27 GMT)
WaMu Offers New All-In-One Mortgage
SEATTLE -- Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance. (Thu, 26 Apr 2007 06:15:39 GMT)
Patrick proposes mortgage fraud law
Addressing Massachusetts' rapidly escalating number of home foreclosures for the first time, Governor Deval Patrick yesterday proposed tougher enforcement and penalties in the mortgage markets, including criminal prosecution of lenders and brokers who fraudulently induce borrowers to take out home loans. (Thu, 26 Apr 2007 09:38:32 GMT)
WaMu offers new all-in-one mortgage, home equity loan
Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance. (Thu, 26 Apr 2007 09:39:48 GMT)
Common forms of mortgage fraud
Whatever the form of fraud, the goal is the same: to obtain a mortgage for which he would not legitimately qualify. (Thu, 26 Apr 2007 10:00:00 GMT)
Mortgage holder wins bidding for Ulmer house
Genoa Bank, which held the mortgage on the Ottawa Hills home of real estate businessman John Ulmer, was the sole bidder and winner yesterday at an auction of the house. (Thu, 26 Apr 2007 10:42:12 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, 26 Apr 2007 11:10:58 GMT)
Deciding how long a mortgage you want
Dear Dr. Don, The interest reset date on our adjustable-rate mortgage with Countrywide is fast approaching. We know that we want to convert to a fixed-rate mortgage, and that we do not want to finance for 30 years. (Thu, 26 Apr 2007 11:33:19 GMT)
Surviving the Subprime Mortgage Market Meltdown
Here are some strategies you can use if you are among the many Americans who purchased a home with a sub-prime mortgage and now face a payment crisis as variable terms kick in. (Thu, 26 Apr 2007 11:48:19 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Thu, 26 Apr 2007 12:11:44 GMT)
Mortgage rates ease on weak home sales, confidence
Mortgage rates fell for the second straight week, Freddie Mac said Thursday, following a sharp drop in home sales and signs of waning U.S. consumer confidence. (Thu, 26 Apr 2007 15:14:24 GMT)
Mortgage Defaults Hurt Countrywide, IndyMac Profit (Update2)
April 26 (Bloomberg) -- Countrywide Financial Corp. and IndyMac Bancorp said profit fell, and Friedman, Billings, Ramsey Group Inc. reported a loss, in the worst first-quarter earnings damage yet from a surge in subprime mortgage defaults. (Thu, 26 Apr 2007 16:39:13 GMT)
Mortgage rates edge down for second week
In its weekly survey, mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.16 percent nationwide this week, down slightly from 6.17 percent last week. (Thu, 26 Apr 2007 17:18:05 GMT)
WaMu offers new all-in-one mortgage, home equity loan
SEATTLE (AP) - Washington Mutual is offering a new mortgage and home equity line of credit bundled into a single loan. The Seattle-based thrift says it will allow customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance. (Thu, 26 Apr 2007 17:47:56 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Thu, 26 Apr 2007 18:12:10 GMT)
BofA buying Seattle Mortgage's reverse mortgage operation
Seattle Mortgage Co. is selling its reverse mortgage operation to Bank of America Corp. (Thu, 26 Apr 2007 18:44:59 GMT)
CMXL Board Announces Acquisition of Residential Mortgage Bank All Fund Mortgage
The founders of CMXL Corporation today announced the completion of the acquisition of All Fund Mortgage, a privately held mortgage banking company headquartered in Tacoma, Washington. (Thu, 26 Apr 2007 20:35:00 GMT)
Countrywide, IndyMac Profit Hurt by Mortgage Defaults (Update5)
April 26 (Bloomberg) -- Countrywide Financial Corp. and IndyMac Bancorp said profit fell, and Friedman, Billings, Ramsey Group Inc. had a loss, the worst first-quarter earnings reports yet caused by the surge in subprime mortgage defaults. (Thu, 26 Apr 2007 20:39:34 GMT)
BofA to Acquire Reverse Mortgage Unit
Bank of America Corp. announced Thursday it has agreed to acquire the reverse mortgage business of Seattle Mortgage Co., a subsidiary of Seattle Financial Group Inc. (Thu, 26 Apr 2007 20:42:40 GMT)
Training for a Home Loan
Gilroy - Residents wanting to purchase a first home have a chance to qualify for a low-interest loan of $50,000 from the city of Gilroy. (Thu, 26 Apr 2007 20:44:23 GMT)
Federal Home Loan Bank of Chicago Announces Live Broadcasts of its Regional Member Meetings
The Federal Home Loan Bank of Chicago today announced that it will offer live broadcasts of each of its upcoming regional member meetings. Those members and other interested parties who are unable to attend a meeting in person can dial in, register with an attendant, and listen to the entire meeting via audiocast. (Thu, 26 Apr 2007 20:53:00 GMT)
BofA to buy reverse-mortgage business
Bank of America Corp. has agreed to buy the reverse-mortgage business of Seattle Mortgage Co., a subsidiary of Seattle Financial Group Inc. (Thu, 26 Apr 2007 21:15:24 GMT)
Mortgage rates dip slightly
Average rates on 30-year mortgages edged down for a second week as financial markets interpreted weakness in consumer confidence and home sales as evidence that the economy is still mired in a period of lackluster growth. (Thu, 26 Apr 2007 21:17:39 GMT)
Fitch Rates HSBC Home Equity Loan Trust (USA) (HELT) 2007-1
NEW YORK----Fitch rates HSBC Home Equity Loan Trust 2007-1 , as follows: $721,500,000 class A-1F, A-1V, A-2F, A-2V, A-3F, A-3V, A-4, A-S, and A-M certificates 'AAA'; $44,200,000 class M-1 certificates 'AA+'; $44,700,000 class M-2 certificates 'AA'. (Thu, 26 Apr 2007 21:23:00 GMT)
Wells Fargo Settles Mortgage Lawsuit
Wells Fargo & Co., a retail bank and mortgage lender, said Thursday it settled a lawsuit in California alleging the bank hid real terms of mortgage loans from borrowers. (Thu, 26 Apr 2007 22:24:24 GMT)
Federal Home Loan Bank of San Francisco Reports First Quarter Operating Results
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today announced that its first quarter 2007 net income rose $23 million, or 19%, to $142 million from $119 million in the first quarter of 2006. (Thu, 26 Apr 2007 22:28:00 GMT)
The Mortgage Market: What Happened?
As the nationwide real estate boom of recent years goes bust, economists and regulators are questioning the role that mortgage lenders played in helping to create an overheated housing environment. Read an overview of what went wrong. (Thu, 26 Apr 2007 22:47:15 GMT)
Reverse-mortgage business being sold
Seattle Mortgage Co., which has built a $4 billion portfolio of reverse-mortgage loans, now plans to sell that business to Bank of America. (Fri, 27 Apr 2007 02:38:10 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, 27 Apr 2007 02:48:56 GMT)
Patrick Proposes Mortgage Fraud Law
Apr. 26--Addressing Massachusetts' rapidly escalating number of home foreclosures for the first time, Governor Deval Patrick yesterday proposed tougher enforcement and penalties in the mortgage markets, including criminal prosecution of lenders and brokers who fraudulently induce borrowers to take out home loans. (Fri, 27 Apr 2007 03:08:37 GMT)
Mortgage fraud and its many sides
Mortgage fraud is running rampant across the U.S., posing potential financial damage or ruin to homeowners and even the local community. The FBI reports that the illegal activity can have a domino effect on the local housing market and the economy at large. ... (Fri, 27 Apr 2007 04:11:34 GMT)
Surviving the Subprime Mortgage Market Meltdown
Here are some strategies you can use if you are among the many Americans who purchased a home with a sub-prime mortgage and now face a payment crisis as variable terms kick in. (Fri, 27 Apr 2007 04:56:21 GMT)
If your home builder tries to foist its favored loan provider onto you, be sure to do research: Taking out the wrong ...
If your home builder tries to foist its favored loan provider onto you, be sure to do research: Taking out the wrong mortgage can be an expensive mistake. (Fri, 27 Apr 2007 05:37:58 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Fri, 27 Apr 2007 05:41:49 GMT)
Columbia Home Loan could be sold, closed
Columbia Home Loans LLC of Valhalla will be either sold or closed in the coming months following problem loans in its subprime portfolio and local managers' "willful suppression" of the details, the head of Columbia's parent company said. (Fri, 27 Apr 2007 06:40:40 GMT)
Mortgage companies merge, change name
GREENWOOD -- Schabel Mortgage Co. and United Home Mortgage Corp. have merged and will be known as Schabel United Home Mortgage. The transaction was finalized Monday. The company will maintain offices at 70 E. Main St. and 973 Emerson Parkway. (Fri, 27 Apr 2007 06:57:55 GMT)
Mortgage Woes Send FBR to Quarterly Loss
Friedman, Billings, Ramsey Group reported its largest loss in more than a year yesterday, saying the housing loans offered by one of its companies dragged down profit in the wake of a nationwide surge of defaults that has jolted the mortgage industry. (Fri, 27 Apr 2007 07:14:59 GMT)
Washington Mutual offers new all-in-one mortgage, home equity loan
SEATTLE (AP) -- Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance. (Fri, 27 Apr 2007 08:09:16 GMT)
Mortgage company flounders
All Fund Mortgage, a Tacoma company, is behind in payments owed to employees as it faces money troubles. (Fri, 27 Apr 2007 08:43:45 GMT)
Warehouse lenders' role in mortgage woes
All big mortgage lenders, and especially institutions that don't accept deposits, rely on warehouse lines of credit. When that money spigot closes, lenders go out of business. (Fri, 27 Apr 2007 10:00:00 GMT)
Bad news for home loan customers
Borrowers of home loans up to Rs 20 lakh may not get any relief from paying higher EMI s. (Fri, 27 Apr 2007 11:06:05 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? (Fri, 27 Apr 2007 11:10:27 GMT)
Subprime mortgage industry meltdown
The industry has itself to blame for much of the mortgage meltdown. No one could think of a reason to say "no" to iffy borrowers. (Fri, 27 Apr 2007 11:47:41 GMT)
Mortgage scheme nets disbarred lawyer 3½ years in jail
A disbarred lawyer has been sentenced to 3½ years behind bars for his part in a multimillion-dollar mortgage scheme, according to newspaper reports. (Fri, 27 Apr 2007 13:22:50 GMT)
Mortgage defaults hurt lenders
Countrywide Financial, IndyMac and Friedman, Billings all posted weaker first-quarter earnings. Countrywide Financial Corp. and IndyMac Bancorp said profit fell, and Friedman, Billings, Ramsey Group Inc. reported a loss, the worst first-quarter earnings reports yet caused by the surge in subprime mortgage defaults. (Fri, 27 Apr 2007 13:25:00 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Fri, 27 Apr 2007 15:18:21 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? (Fri, 27 Apr 2007 15:19:01 GMT)
Federal Home Loan Bank of Atlanta Announces New Board Members
Federal Home Loan Bank of Atlanta today announced that the Federal Housing Finance Board has appointed three new members to FHLBank Atlanta's board of directors. They are F. Gary Garczynski, William C. (Fri, 27 Apr 2007 15:25:00 GMT)
NatWest launches £1,000 mortgage promise
NatWest has launched a mortgage challenge in a bid to poach customers from rival banking giants. (Fri, 27 Apr 2007 15:26:07 GMT)
Hawaii mortgage rates: 5.75% or higher
The largest Hawaii banks charged 5.75 percent this week for a 30-year fixed-rate mortgage, while other lenders are an eighth higher than that, the Honolulu Board of Realtors reported Friday. (Fri, 27 Apr 2007 16:16:30 GMT)
Morgan Mortgage Trust 2007-A3 (2º)
Fitch Rates J.P. 27/04/2007 16:15:00 Business Wire The trust consists of mortgage loans with a total principal balance of approximately $720,053,804. (Fri, 27 Apr 2007 16:22:25 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. (Fri, 27 Apr 2007 18:08:10 GMT)
Mortgage Lenders Wins OK for Auction
Subprime lender Mortgage Lenders Network USA Inc., which is shutting down its loan servicing operations, won bankruptcy court approval to auction off a "turn-key" loan-servicing platform that can service 187,500 mortgages. (Fri, 27 Apr 2007 19:01:17 GMT)
Choosing the best mortgage now
Mortgage rates have stayed relatively low, but they are still considerably above rock-bottom levels reached two years ago, and many worry that they will ultimately head higher. (Fri, 27 Apr 2007 19:39:00 GMT)
Fitch Rates Harborview Mortgage Loan Trust $831.2MM Series 2007-3
NEW YORK----Fitch rates Harborview Mortgage Loan Trust's mortgage pass-through certificates, series 2007-3, as follows: $769.8 million classes 1A-A1, 2A-A1, 2A-1B, 2A-1C senior certificates 'AAA'; $16.2 million class B-2 'AA'; $11.8 million class B-3 'AA-'; $7.9 million class B-4 'A+'; $7.5 million class B-5 'A'; $4.8 million class B-6 'A-'; $4.4 million class B-7 'BBB+'; $4.4 million class ... (Fri, 27 Apr 2007 19:54:00 GMT)
Freddie Mac CEO expects subprime mortgage crisis to worsen
BOSTON - The sharp decline of the subprime housing market offering high-cost mortgages hasn't yet hit bottom, the head of home mortgage buyer Freddie Mac said Friday. (Fri, 27 Apr 2007 20:05:54 GMT)
Fitch Rates $1.2B Home Equity Loan Trust 2007-HSA2
NEW YORK----Home Equity Loan Trust 2007-HSA2, which closed on April 27, 2007, is rated by Fitch Ratings as follows: $1,231,394,000 classes A-1V, A-1F and A-2 through A-6 'AAA', (Fri, 27 Apr 2007 20:11:00 GMT)
Hawaii mortgage rates: 5.75% or higher
The largest Hawaii banks charged 5.75 percent this week for a 30-year fixed-rate mortgage, while other lenders are an eighth higher than that, the Honolulu Board of Realtors reported Friday. (Fri, 27 Apr 2007 20:17:25 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, 27 Apr 2007 21:57:28 GMT)
Mortgage scheme nets disbarred lawyer 3½ years in jail
A disbarred lawyer has been sentenced to 3½ years behind bars for his part in a multimillion-dollar mortgage scheme, according to newspaper reports. (Fri, 27 Apr 2007 22:07:55 GMT)
Home loan defaults 'bite' banks
Faced with an increase in defaults on home loans, banks are beginning to feel the 'bite' after growing their portfolios at breakneck pace in the last three years, according to State Bank of India Chairman O P Bhatt. (Fri, 27 Apr 2007 22:12:30 GMT)
Lenders pull plug on fixed-rate mortgage quotes
Thousands of borrowers with fixed-rate mortgage quotes from some of Britain’s biggest lenders have been told that the figures are no longer valid after banks withdrew products in preparation for rising interest rates. (Fri, 27 Apr 2007 23:18:15 GMT)
Surviving the Subprime Mortgage Market Meltdown
Here are some strategies you can use if you are among the many Americans who purchased a home with a sub-prime mortgage and now face a payment crisis as variable terms kick in. (Fri, 27 Apr 2007 23:21:22 GMT)
Mortgage fraud growing problem
Mortgage fraud is running rampant across the U.S., posing potential financial damage or ruin to homeowners and even the local community. The FBI reports that the illegal activity can have a domino effect on the local housing market and the economy at large. (Sat, 28 Apr 2007 00:37:55 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? (Sat, 28 Apr 2007 02:11:50 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. (Sat, 28 Apr 2007 02:25:49 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. (Sat, 28 Apr 2007 03:12:01 GMT)
Should you pay mortgage early?
As many homeowners dip into their home equity, a small but growing number are doing the opposite — paying off their mortgages quicker than lenders require. But is ending a mortgage sooner than necessary a wise move? There’s no simple answer. Financial advisers disagree sharply about whether, and when, such an approach makes sense. (Sat, 28 Apr 2007 06:19:20 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, 28 Apr 2007 07:42:40 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. (Sat, 28 Apr 2007 07:46:37 GMT)
Mortgage Crisis To Worsen
Boston The sharp decline of the subprime housing market offering high-cost mortgages hasn't yet hit bottom, the head of home mortgage buyer Freddie Mac said Friday. (Sat, 28 Apr 2007 09:18:57 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. (Sat, 28 Apr 2007 09:23:27 GMT)
OBC to raise home loan rates by 50-75 bps
Oriental Bank of Commerce on Saturday said it will raise home loan rates in the range of 50 to 75 basis points for new borrowers seeking loan up to Rs 20 lakh. (Sat, 28 Apr 2007 10:45:23 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? (Sat, 28 Apr 2007 11:57:00 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, 28 Apr 2007 11:57:10 GMT)
OBC to raise home loan rates by 50-75 bps
Oriental Bank of Commerce today said it will raise home loan rates in the range of 50 to 75 basis points for new borrowers seeking loan up to Rs 20 lakh. (Sat, 28 Apr 2007 14:23:33 GMT)
OBC to raise home loan rates by 50-75 bps
Oriental Bank of Commerce today said, it will raise home loan rates in the range of 50 to 75 basis points for new borrowers seeking a loan up to Rs 20 lakh. "We may increase it around 50-75 bps probably from May 1," OBC Executive Director Allan C A Pereira told reporters here. (Sat, 28 Apr 2007 15:59:53 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Sat, 28 Apr 2007 16:12:03 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? (Sat, 28 Apr 2007 16:12:24 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, 28 Apr 2007 16:48:40 GMT)
Staid Canadian mortgage industry begins to 'push risk envelope'
OTTAWA- The sign advertising "mortgage and home equity solutions" at the Money Mart in an older Ottawa neighbourhood illustrates the revolution going on in Canada's once staid mortgage market. (Sat, 28 Apr 2007 18:10:39 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. (Sat, 28 Apr 2007 19:30:47 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. (Sat, 28 Apr 2007 19:31:27 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, 28 Apr 2007 19:31:38 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sat, 28 Apr 2007 20:12:38 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? (Sat, 28 Apr 2007 20:25:06 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. (Sat, 28 Apr 2007 22:11:41 GMT)
Home loan rates to go up
New Delhi, April 28 : Home loans below Rs 20 lakh are set to turn costlier. (Sat, 28 Apr 2007 23:00:15 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. (Sat, 28 Apr 2007 23:00:49 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, 29 Apr 2007 05:44:04 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sun, 29 Apr 2007 06:42:22 GMT)
Mortgage brokers who lied to the public while selling mortgages are looking for safe heavens abroad
Many mortgage brokers who sold mortgages lying to public are scared now. People can take revenge on them. State and Federal regulatory authorities can take action on them as foreclosures and mortgage defaults skyrocket. (Sun, 29 Apr 2007 06:44:36 GMT)
Follow tips to avoid mortgage foreclosure
NEW YORK -- Having mortgage troubles? You're not alone. According to data compiled by Equifax, mortgage delinquency rates hit an all-time high in the first quarter of 2007: 2.87 percent of all mortgages were in default -- surpassing even the highest levels since the 2001 recession. (Sun, 29 Apr 2007 07:06:36 GMT)
Don't default on home loan; call for help
H ome foreclosures are up, in part because of defaults on riskier subprime loans, putting many communities at risk. But, if past surveys continue to prove true, many financially troubled homeowners will never contact their lenders to work out a way to keep their homes. (Sun, 29 Apr 2007 07:12:39 GMT)
Bank of America to buy reverse mortgage unit
Bank of America Corp. announced last week it has agreed to acquire the reverse mortgage business of Seattle Mortgage Co., a subsidiary of Seattle Financial Group Inc. (Sun, 29 Apr 2007 07:14:21 GMT)
Dutchess leaders lament loss of mortgage tax revenue
DIMINISHING support among Dutchess County lawmakers for a mortgage tax hike they approved only four months ago has killed any possibility of a multimillion-dollar revenue stream materializing and has plunged the county government into fiscal uncertainty, administration officials say. (Sun, 29 Apr 2007 07:20:33 GMT)
Taking a loan so mom can buy a home is a bad idea
Dear Liz: My mom keeps hinting that I should help her buy a house. (Sun, 29 Apr 2007 07:41:01 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. (Sun, 29 Apr 2007 08:57:21 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. (Sun, 29 Apr 2007 10:09:58 GMT)
Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Sun, 29 Apr 2007 10:27:36 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? (Sun, 29 Apr 2007 10:42:25 GMT)
Subprime crisis offers a chance to step up
As you may know, I'm opposed to any type of taxpayer bailout of subprime mortgage borrowers or lenders. Yet I believe our state regulators and law-enforcement agencies should be doing much more to pressure lenders and brokers to clean up the mortgage mess... (Sun, 29 Apr 2007 10:53:05 GMT)
Mortgage rates
Rates on 30-year mortgages drop slightly again (Sun, 29 Apr 2007 11:28:05 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? (Sun, 29 Apr 2007 11:30:48 GMT)
Washington Mutual's new mortgage doubles as a line of credit
SEATTLE - Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance. (Sun, 29 Apr 2007 11:43:08 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, 29 Apr 2007 16:34:26 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, 29 Apr 2007 19:53:40 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sun, 29 Apr 2007 21:11:41 GMT)
Second home may cost more at PSU banks too
Some public sector banks are considering the option of making the second home loan a tad expensive. The difference in interest rates could be in the range of 25-50 basis points. (Sun, 29 Apr 2007 21:22:53 GMT)
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