Mortgage News May 2007

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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, 01 May 2007 00:22:37 GMT)

New Loan Allows Homeowners to Reset Interest Rates ; Washington Mutual's Mortgage Plus Lets People Switch Between ...
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. (Tue, 01 May 2007 01:23:30 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? (Tue, 01 May 2007 02:39:02 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, 01 May 2007 02:39:21 GMT)

Risky Business: A.G. Scrutinizes Ex-Con's Mortgage Business
A Chicago mortgage company has caught the eye of the Illinois attorney general. (Tue, 01 May 2007 03:55:02 GMT)

Sub-Prime Mortgage Woes Worry Urban Warrior
Michael Rubinger, chief executive officer of Local Initiatives Support Corporation, is worried about rising defaults in the subprime mortgage market. His viewpoint, however, is somewhat different: "The danger is that a lot of communities that have recovered could see another wave of houses being abandoned and boarded up. If we begin to see trouble, we want to nip it in the bud." Little has been ... (Tue, 01 May 2007 04:56:35 GMT)

FBI Arrests 10 in Queens In Mortgage Fraud Scheme
A new wave of mortgage fraud cases, in which brokers allegedly purchase identities from immigrants, has mortgage lenders taking a more proactive role in law enforcement, FBI officials said. Last week, the FBI arrested 10 people with ties to a Bangladeshi community in Queens who allegedly conspired to create a pyramid scheme in which they purchased the identities of immigrants who were leaving New ... (Tue, 01 May 2007 04:57:16 GMT)

Different mortgage types suit different situations
Question: With the fallout from the subprime mortgages in mind, we are looking into whether to choose a mortgage that is fixed, adjustable-rate or hybrid. Can you give me some pros and cons of each mortgage? (Tue, 01 May 2007 05:26:04 GMT)

Veteran Mortgage Broker Thwarts Decades of L.O.S. Problems With Launch of eMortgedge 1003POWER V1
Incomparable Web-Based System Signals A New Era in the Mortgage Industry. (Tue, 01 May 2007 07:01:00 GMT)

To close small budget gap, consider refinancing car
You've forsaken digital cable, stopped eating out so much and turned the thermostat down a notch or two in the winter. You've even refinanced your house to get the monthly mortgage payments down. (Tue, 01 May 2007 07:15:16 GMT)

Veteran Mortgage Broker Thwarts Decades of L.O.S. Problems With Launch of eMortgedge 1003POWER V1
Incomparable Web-Based System Signals A New Era in the Mortgage Industry. (PRWeb May 1, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/UHJvZi1IYWxmLUxvdmUtUHJvZi1NYWduLVplcm8= (Tue, 01 May 2007 07:41:18 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. (Tue, 01 May 2007 07:42:02 GMT)

Quick action can ease pain of mortgage problems
Trouble begins with a slow-motion descent toward your first missed mortgage payment. It’s a queasy feeling thousands of homeowners know too well as their houses slip away. (Tue, 01 May 2007 09:31:26 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, 01 May 2007 11:24:57 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? (Tue, 01 May 2007 11:27:29 GMT)

Home loans, rehab focus of meeting
Summit County residents can learn about First Home, First Loan programs and housing rehabilitation opportunities being sponsored by the County's Department of Community and Economic Development during an open meeting at 7 p.m. (Tue, 01 May 2007 11:50:13 GMT)

Kenya: Housing Finance Launches Mortgage for First Time Home Owners
The Kenya government will amend the law to enable mortgage firms charge first time home owners relatively lower interest rates. (Tue, 01 May 2007 14:25:07 GMT)

Mortgage demand boosts Equitable
Mortgage supplier Equitable Group Inc.'s (TSX: ETC ) first-quarter profit has jumped 37 per cent to $8 million, from $5.8 million in the same period last year. (Tue, 01 May 2007 14:50:06 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, 01 May 2007 16:15:53 GMT)

Injunction against Nelson mortgage brokers
Mike Pero Ltd and Freedom Business Developments have been granted an interim injunction restraining Exact Solutions and Stephen Webb from trading as mortgage brokers in Nelson. (Tue, 01 May 2007 17:18:26 GMT)

Former Modesto mortgage executive must pay $6.7 million for fraud
A former mortgage company executive was ordered to repay $6.7 million to lenders and the elderly, minority and bad-credit clients he defrauded. (Tue, 01 May 2007 17:22:46 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? (Tue, 01 May 2007 17:53:26 GMT)

Former Modesto mortgage executive must pay $6.7 million for fraud
MODESTO, Calif. A former mortgage company executive has been ordered to pay back the (m) millions of dollars he collected by defrauding his clients. (Tue, 01 May 2007 18:02:24 GMT)

Former Modesto mortgage executive must pay $6.7 million for fraud
MODESTO, Calif. A former mortgage company executive has been ordered to pay back the (m) millions of dollars he collected by defrauding his clients. Tony Daniloo --... (Tue, 01 May 2007 18:05:18 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. (Tue, 01 May 2007 18:11:52 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, 01 May 2007 18:39:38 GMT)

Former Modesto mortgage executive must pay $6.7 million for fraud
A former mortgage company executive has been ordered to pay back the (m) millions of dollars he collected by defrauding his clients. (Tue, 01 May 2007 19:02:06 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, 01 May 2007 19:11:41 GMT)

Couple sentenced in mortgage fraud
A Durham couple was sentenced in federal court in Greenville Monday for a $1 million-plus mortgage fraud scheme. (Tue, 01 May 2007 19:39:50 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. (Tue, 01 May 2007 19:57:42 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, 01 May 2007 19:57:52 GMT)

Informa Research Services Advises How to Use the Extra Cash You Save from Refinancing Your Mortgage to Pay-Off Your ...
CALABASAS, Calif.----Mortgage industry experts estimate that over one trillion dollars worth of adjustable mortgages will reset by the end of 2007. Almost half of these will be refinanced into new loans, including fixed mortgages, according to a news report in the Detroit Free Press. (Tue, 01 May 2007 20:15:00 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. (Tue, 01 May 2007 20:23:51 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, 01 May 2007 20:24:01 GMT)

Subprime mortgage crisis caused by ‘inappropriate lending,' speaker tells conference
Contrary to popular belief, the subprime mortgage lending problem was not caused by a flood of exotic new loan products. (Tue, 01 May 2007 21:23:25 GMT)

Mortgage Dangers, Are You In Over Your Head?
Owning your own home is a dream come true for many people but if you get in over your head, with an adjustable rate mortgage, the experience can turn into a nightmare . | | The allure of a less-expensive, adjustable rate mortgage is easy to see but a year or so later, the rate increases and borrowers tend to themselves in trouble. | | ... (Tue, 01 May 2007 22:12:38 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? (Tue, 01 May 2007 23:10:24 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, 02 May 2007 01:15:49 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 02 May 2007 01:16:30 GMT)

Former Modesto mortgage executive must pay 6.7 million for fraud
MODESTO -- A former mortgage company executive was ordered to repay 6.7 million to lenders and the elderly, minority and bad-credit clients he defrauded. (Wed, 02 May 2007 02:48:13 GMT)

Couple Falls Victim To Loan Scheme
An Omaha couple says they thought they were getting a loan from a reputable company. (Wed, 02 May 2007 02:56:43 GMT)

Think You're Paying Too Much on Your Car Loan?
(ARA) - You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. (Wed, 02 May 2007 04:00:28 GMT)

• Soon as You Decide to Buy a Home, Apply for a Mortgage
As soon as you decide to buy a property or a home, you want to finance it with a mortgage loan. You need to shop around the banks or lending companies and find the requirements that they will require you in order for you to apply for a mortgage loan. (Wed, 02 May 2007 04:53:21 GMT)

Subprime mortgage crisis caused by ‘inappropriate lending,' speaker tells conference
Contrary to popular belief, the subprime mortgage lending problem was not caused by a flood of exotic new loan products. (Wed, 02 May 2007 05:08:57 GMT)

Quick action can ease pain of mortgage problems
Trouble begins with a slow-motion descent toward your first missed mortgage payment. It’s a queasy feeling thousands of homeowners know too well as their houses slip away. (Wed, 02 May 2007 06:27:19 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? (Wed, 02 May 2007 06:42:40 GMT)

Aspect Software Helps Residential Credit Solutions, Inc. Build Home Loan Business with Aspect EnsemblePro and Asterisk ...
Aspect Software, Inc., the world’s largest company solely focused on the contact center, announced today that Residential Credit Solutions, Inc., a residential mortgage loan service provider, is enhancing its contact center infrastructure by implementing the Asterisk Business Edition™ internet protocol (IP) private branch exchanges (PBX) across its corporate headquarters in Ft. Worth, Texas and ... (Wed, 02 May 2007 09:06:35 GMT)

Mortgage approvals fall as borrowing costs bite
Mortgage approvals fell to their lowest level in a year in March, official data showed on Wednesday, in a sign that higher interest rates are finally starting to bite. (Wed, 02 May 2007 09:12:18 GMT)

Surprise slide in UK mortgage approvals
LONDON (SHARECAST) - UK mortgage approvals dropped to their lowest in a year during March, according to the latest data from the Bank of England, suggesting higher interest rates are having an impact. (Wed, 02 May 2007 09:24:10 GMT)

Mortgage lending slows slightly
New mortgage lending has dipped slightly between February and March, the Bank of England says. (Wed, 02 May 2007 09:28:14 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? (Wed, 02 May 2007 09:38:58 GMT)

U.K. Mortgage Approvals Fall to Lowest in 11 Months (Update3)
May 2 (Bloomberg) -- U.K. mortgage approvals fell to the lowest in almost a year in March, a sign that higher borrowing costs are cooling the residential property market. (Wed, 02 May 2007 09:42:07 GMT)

New mortgage approvals fall to lowest level in a year
New mortgage approvals by banks and building societies fell to their lowest level in a year in March, Bank of England data show today, the latest sign that the housing boom may be running out of steam. (Wed, 02 May 2007 09:44:54 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, 02 May 2007 09:55:35 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 02 May 2007 09:56:45 GMT)

Auto Refinancing Puts Gas Money in Your Pocket
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. The price of a barrel of crude oil recently peaked at $77 dollars. (Wed, 02 May 2007 11:01:09 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, 02 May 2007 11:01:19 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 1.31 6.14 1 2 -43 15-Year Fixed 6.14 1.25 5.83 1 -2 -36 7-Year Balloon 5.54 0.99 5.29 6 -6 -110 5-Year Balloon 6.05 1.02 5.79 3 -16 -94 ARM, 1-Yr Tsy 5.98 0.73 5.79 1 -7 -28 FHA 203 (b) 6.41 0.90 6.26 0 3 -38 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 02 May 2007 11:04:52 GMT)

Man sues Housing Authority after defaulting on home loan
Ronald Gibbs, a disabled Navy veteran living in Charleston, hoped to achieve the dream of home ownership with the help of city and federal housing programs, but wound up living a financial nightmare. (Wed, 02 May 2007 11:09:31 GMT)

Mortgage approvals fall as borrowing costs bite
LONDON (Reuters) - Mortgage approvals fell to their lowest level in a year in March in a sign that higher interest rates are finally starting to bite and may not need to rise much further. (Wed, 02 May 2007 11:12:48 GMT)

Mortgage applications crawl higher
WASHINGTON (MarketWatch) -- Applications for new mortgages increased 0.6% last week on higher demand for loans to buy a home, the Mortgage Bankers Association reported Wednesday. (Wed, 02 May 2007 11:22:48 GMT)

Loan application makes you a 'trigger lead'
It's a surprise for many would-be home buyers: On Monday you sign a loan application with the mortgage broker of your choice and by Tuesday your phone is ringing off the hook with calls from other lenders offering you deals. Congratulations! You've become a "trigger lead." (Wed, 02 May 2007 11:32:18 GMT)

Home loan demand ticks up a bit
Mortgage applications rose for a second week as demand for home purchase loans outweighed slower refinancing activity, an industry trade group said Wednesday. (Wed, 02 May 2007 12:11:58 GMT)

MFA Mortgage Investments, Inc. Announces First Quarter 2007 Financial Results
MFA Mortgage Investments, Inc. today reported earnings available to common stockholders of $7.8 million, or $0.10 per share of common stock, for the first quarter ended March 31, 2007. (Wed, 02 May 2007 12:25:00 GMT)

H&R Block Obtains Mortgage Financing
H&R Block Inc. lined up new financing for its troubled subprime mortgage lending business, which faces a cash crunch as some of the unit's financial backers cut the company off from borrowing more money. (Wed, 02 May 2007 13:06:37 GMT)

Mortgage applications tick higher
Mortgage applications inched higher last week despite a dip in refinancing activity, according to the latest report by the Mortgage Bankers Association. (Wed, 02 May 2007 13:58:55 GMT)

The buyers: The Quams and the too-good-to-be-true mortgage
Newlyweds Erik and Brandi Quam can't really afford their home. The monthly carrying costs on their two-bedroom condo in Arlington, Va. run about $2,500 a month, and they fear the bill could go higher still as their adjustable mortgage resets to higher interest rates. It's already a tight squeeze: They've taken in a roommate to help pay the bills. (Wed, 02 May 2007 15:58:55 GMT)

The brokers: Would you get your mortgage from this man?
Morning commuters in Boston, Chicago and Phoenix are slapped awake by the voice of a pugnacious Texan shouting out of the radio. "When your mortgage payment goes up 400 bucks a month, you can dislocate your jaw and swallow it like a snake eatin' an egg," the voice says. "Or spend another seven grand and have some predator redo your mortgage. Unacceptable." (Wed, 02 May 2007 15:59:05 GMT)

The appraisers: Price estimates made to order
Last summer Daniel Kim was feeling pinched. So when Kim, now 27, of San Leandro, Calif. got a call from a mortgage company, he was intrigued. (Wed, 02 May 2007 15:59:15 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, 02 May 2007 16:11:56 GMT)

U.K. March Mortgage Approvals Revised Up to 113,000 (Update1)
May 2 (Bloomberg) -- U.K. mortgage approvals for house purchase in March were revised up to 113,000, from a reading of 111,000 reported earlier today, the Bank of England said in a statement. (Wed, 02 May 2007 16:12:47 GMT)

Subprime mortgage firm ceases most operations
Mortgage loan broker Millennium Funding Group stopped operations this week after laying off most of its Vancouver staff due to continued erosion in the subprime lending market. (Wed, 02 May 2007 17:03:27 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? (Wed, 02 May 2007 17:08:44 GMT)

Home buyers turn to mortgage insurance
Private mortgage insurance is making a comeback. (Wed, 02 May 2007 18:30:40 GMT)

Home Buyers Turn to Mortgage Insurance
Private mortgage insurance is making a comeback. Until six or eight months ago, private mortgage insurance was out of favor as people eager to get into the roaring housing market took adjustable-rate mortgages or "piggyback" loans or some other exotic form of financing. (Wed, 02 May 2007 18:30:40 GMT)

Home Buyers Turn to Mortgage Insurance
NEW YORK -- Private mortgage insurance is making a comeback. (Wed, 02 May 2007 18:50:54 GMT)

GMAC posts loss on mortgage pressure
General Motors Corp's former finance arm GMAC on Wednesday swung to a first-quarter loss, as pressure on the U.S. mortgage market forced the company to take charges at its housing finance unit. (Wed, 02 May 2007 19:26:48 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 02 May 2007 19:56:06 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? (Wed, 02 May 2007 20:09:04 GMT)

GMAC posts loss, hurt by mortgage unit
DETROIT (Reuters) - General Motors Corp.'s (GM.N) former finance arm, GMAC, posted a first-quarter loss on Wednesday as pressure on the U.S. mortgage market forced the company to take charges at its housing finance unit. (Wed, 02 May 2007 20:48:47 GMT)

Home Federal Bancorp, Inc. of Louisiana Reports Net Earnings for the Quarter and Nine Months Ended March 31, 2007
SHREVEPORT, La.----Home Federal Bancorp, Inc. of Louisiana , the "mid-tier" holding company of Home Federal Savings and Loan Association , reported net earnings for the third quarter ended March 31, 2007 of $184,000, or basic earnings per share of $.05, an increase of $43,000, or 30.5%, from the $141,000 in net earnings, reported for the third quarter ended March 31, 2006. (Wed, 02 May 2007 22:06:00 GMT)

Several players in home mortgage market agree on principles for borrowers in trouble
WASHINGTON - Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure, the chairman of the Senate (Wed, 02 May 2007 23:00:35 GMT)

Federal Home Loan Bank of Seattle Declares First Quarter 2007 Dividends
SEATTLE----The Board of Directors of the Federal Home Loan Bank of Seattle has declared cash dividends on two classes of stock outstanding during the first quarter of 2007. The Seattle Bank will pay $3.2 million or $.15 per share on an average of approximately 21.3 million shares of Class B stock outstanding during the first quarter of 2007, which represents a 50 percent increase over the ... (Wed, 02 May 2007 23:41:00 GMT)

Several players in home mortgage market agree on principles for borrowers in trouble
Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure, the chairman of the Senate Banking Committee said Wednesday. (Thu, 03 May 2007 00:24:04 GMT)

Private mortgage insurance has comeback
Private mortgage insurance is making a comeback. Until six or eight months ago, private mortgage insurance was out of favor as people eager to get into the roaring housing market took adjustable-rate mortgages or "piggyback" loans or some other exotic form of financing. (Thu, 03 May 2007 01:12:16 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance ? Are the rates and the current mortgage market the best indicators? (Thu, 03 May 2007 01:56:59 GMT)

GMAC profit hurt by mortgage unit
GMAC Financial Services posted a first quarter loss on Wednesday posted a first-quarter net loss on Wednesday as the US subprime mortgage crisis forced it to take charges at its housing finance unit. (Thu, 03 May 2007 02:30:50 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? (Thu, 03 May 2007 02:46:44 GMT)

Mortgage Unit Produces Loss for GMAC
General Motors? former finance arm, GMAC, posted a loss as pressure on the mortgage market forced the company to take charges at its housing finance unit. (Thu, 03 May 2007 03:11:48 GMT)

Fall in mortgage approvals
Mortgage approvals in March were at their lowest level in a year, a move that provides further evidence that recent interest rate rises have started to cool the property market. (Thu, 03 May 2007 04:07:43 GMT)

Lawmakers weigh mortgage reforms
Willie Ricks fell behind three months on his mortgage payments while on strike last fall at the Goodyear Tire & Rubber Co. He and his wife ended up owing their bank $8,001, including late fees and other charges. (Thu, 03 May 2007 04:08:16 GMT)

Mortgage players to adopt initiatives
WASHINGTON – Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure, the chairman of the Senate Banking Committee said Wednesday. ... - By MARCY GORDON The Associated Press (Thu, 03 May 2007 04:11:25 GMT)

Several players in home mortgage market agree on principles for borrowers in trouble
WASHINGTON — Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure, the chairman of the Senate Banking Committee said... (Thu, 03 May 2007 05:36:23 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, 03 May 2007 06:42:32 GMT)

Shopping for a Home Loan Can Save You Money -- GetSmart.com Can Show You How
Shopping for a loan is a great idea especially for a home loan, likely the largest investment you'll ever make. Check out some great loan shopping tips brought to you by GetSmart.com. (Thu, 03 May 2007 07:01:00 GMT)

Shopping for a Home Loan Can Save You Money -- GetSmart.com Can Show You How
Shopping for a loan is a great idea especially for a home loan, likely the largest investment you'll ever make. Check out some great loan shopping tips brought to you by GetSmart.com. (PRWeb May 3, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1IYWxmLVN1bW0tUHJvZi1NYWduLVplcm8= (Thu, 03 May 2007 07:34:04 GMT)

Banks unconcerned about loan defaults
Three interest rate rises in Australia last year have driven a spike in home and other loan defaults and deliquencies, but the major banks aren't worried. (Thu, 03 May 2007 08:00:00 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? (Thu, 03 May 2007 09:26:41 GMT)

Mortgage moguls agree on principles
WASHINGTON - Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure, the chairman of the Senate Banking Committee said Wednesday. (Thu, 03 May 2007 09:30:20 GMT)

Ahead of the Bell: Mortgage Reforms
The practices of mortgage lenders will come under greater scrutiny Thursday, as two senators will unveil a plan to address rising foreclosures and high-interest rate home loans given to people with weak credit. (Thu, 03 May 2007 10:20:13 GMT)

Home-loan fraud draws FBI concern in Alaska
A national mortgage-fraud scam involving cash-back deals has become a concern in Alaska, FBI investigators said Wednesday. The scam involves inflated home prices and kickbacks to those in cahoots. (Thu, 03 May 2007 10:27:33 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, 03 May 2007 11:01:41 GMT)

HGTV Home Buying Host & Author Suzanne Whang to Promote National Homeownership Month and Home Loan Learning Center ...
The Mortgage Bankers Association announced today that Suzanne Whang, HGTV television host and home-buying author, has agreed to promote MBA's Home Loan Learning Center this June during National Homeownership Month. (Thu, 03 May 2007 12:00:00 GMT)

HGTV Home Buying Host & Author Suzanne Whang to Promote National Homeownership Month and Home Loan Learning Center ...
The Mortgage Bankers Association (MBA) announced today that Suzanne Whang, HGTV television host and home-buying author, has agreed to promote MBA's Home Loan Learning Center (http://www.homeloanlearningcenter.com/) this June during National Homeownership Month. (Thu, 03 May 2007 13:29:27 GMT)

Bankrate: Mortgage Rates in Holding Pattern
Mortgage rates inched higher, with the average 30-year fixed mortgage rate rising to 6.28 percent. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.26 discount and origination points. (Thu, 03 May 2007 13:32:00 GMT)

Arizona sees increase in private mortgage insurance
As the market has cools and lenders tighten standards, many people who want homes - especially first-time buyers - are choosing traditional fixed-rate mortgages backed by private mortgage insurance. (Thu, 03 May 2007 14:47:31 GMT)

Private mortgage insurance regains popularity among home buyers
As the market has cooled and lenders have tightened their standards, many people who want homes - especially first-time home buyers and those with little money for down payments - are choosing traditional fixed-rate mortgages backed by private mortgage insurance, or PMI. (Thu, 03 May 2007 15:52:05 GMT)

30-year mortgage rates hold steady
Rates on 30-year mortgages held steady this week near their low point for the year, reflecting the slowdown in economic growth. (Thu, 03 May 2007 16:08:42 GMT)

30-year mortgage rate flat at 6.16%
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.16% nationwide this week, unchanged from last week. That level is near the low for the year of 6.14% for 30-year mortgages in early March. (Thu, 03 May 2007 16:16:49 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? (Thu, 03 May 2007 16:28:23 GMT)

30-Year Mortgage Rates Hold Steady
Rates on 30-year mortgages held steady this week near their low point for the year, reflecting the slowdown in economic growth. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.16 percent nationwide this week,... (Thu, 03 May 2007 16:37:54 GMT)

30-Year Mortgage Rates Hold Steady
WASHINGTON -- Rates on 30-year mortgages held steady this week near their low point for the year, reflecting the slowdown in economic growth. (Thu, 03 May 2007 16:40:20 GMT)

Senators propose tightening rules on mortgage brokers
WASHINGTON (MarketWatch) -- Mortgage brokers would be saddled with new rules designed to protect borrowers in the hard-hit subprime market under a bill introduced Thursday in the Senate. (Thu, 03 May 2007 16:52:38 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. (Thu, 03 May 2007 16:54:19 GMT)

Mortgage rates hold steady
Mortgage rates remained unchanged this week, Freddie Mac said Thursday, following a slowdown in consumer spending growth and a tame inflationary reading. (Thu, 03 May 2007 18:14:52 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? (Thu, 03 May 2007 18:32:14 GMT)

Survey: rates flat this week
McLEAN, Va. (AP) - No movement this week in long-term mortgage rates. Freddie Mac says the average for the 30-year fixed-rate mortgage was 6.16 percent -- the same as last week. The 15-year loan, often used for refinancing, also was unchanged -- at 5.87 percent. (Thu, 03 May 2007 18:47:56 GMT)

Congress urged to set guidelines for sub-prime mortgages
Sen. Charles E. Schumer (D-N.Y.) says, "The sub-prime mortgage market has been the Wild West of the mortgage industry for far too long." In a bid to stop a wave of foreclosures, Sen. Charles E. Schumer (D-N.Y.) today urged Congress to approve $300 million for counseling and outreach efforts to help beleaguered borrowers hold onto their homes through refinancing deals and other financial ... (Thu, 03 May 2007 18:55:59 GMT)

Fed plans hearing on curbing U.S. mortgage abuses
The Federal Reserve Board, taking a step towards curbing abusive home mortgage lending practices, said it would hold a hearing next month on how it might use its rule-making authority to stamp out such abuses. (Thu, 03 May 2007 18:59:37 GMT)

States Rush to Act on Mortgage Reform
As state lawmakers rush to reform lending practices that have contributed to a recent surge of mortgage defaults and foreclosures, consumer advocates say these efforts fall short of what is truly needed: a federal law protecting home buyers. (Thu, 03 May 2007 20:09:24 GMT)

UBS Scraps Costas's Hedge Fund After Mortgage Losses (Update3)
May 3 (Bloomberg) -- UBS AG, the world's biggest asset manager, is winding down John Costas's hedge-fund unit after 11 months of trading and returning client money because of losses attributed to the U.S. mortgage market. (Thu, 03 May 2007 20:27:01 GMT)

Mortgage rates flat on weak GDP growth
Mortgage rates held steady this week at 6.15 percent due to weaker-than-expected Gross Domestic Product growth and tame consumer spending, according to Freddie Mac. (Thu, 03 May 2007 21:14:28 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? (Thu, 03 May 2007 21:24:01 GMT)

States Rush to Act on Mortgage Reform
As state lawmakers rush to reform lending practices that have contributed to a recent surge of mortgage defaults and foreclosures, consumer advocates say these efforts fall short of what is truly needed: a federal law protecting home buyers. (Fri, 04 May 2007 03:17:32 GMT)

New U.S. law urged on home loan practices
WASHINGTON -- As state lawmakers rush to reform lending practices that have contributed to a recent surge of mortgage defaults and foreclosures, consumer advocates say these efforts fall short of what is truly needed: a federal law protecting home buyers. (Fri, 04 May 2007 03:38:08 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. (Fri, 04 May 2007 04:01:29 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? (Fri, 04 May 2007 04:01:58 GMT)

Mortgage ills spill red ink on GM balance
DETROIT (AP) -- The troubled mortgage market spilled onto General Motors Corp.'s balance sheet yesterday as first-quarter profits dropped 90 percent from a year ago, mainly because of losses at GM's former financial arm. (Fri, 04 May 2007 04:10:35 GMT)

States rush to act on mortgage reform but consumer advocates say federal action is needed
WASHINGTON — As state lawmakers rush to reform lending practices that have contributed to a recent surge of mortgage defaults and foreclosures, consumer advocates say these efforts fall short of what is truly needed: a federal law protecting home... (Fri, 04 May 2007 05:09:07 GMT)

Realty Q&A: Any recourse for victims of mortgage bait-and-switch?
Realty Q&A: Any recourse for victims of mortgage bait-and-switch? (Fri, 04 May 2007 06:11:03 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 04 May 2007 06:57:47 GMT)

UBS to shut hedge fund unit after mortgage market losses
LONDON -- UBS AG , the world's biggest asset manager, is winding down John Costas's hedge-fund unit after 11 months of trading and returning client money because of losses attributed to the US mortgage market. (Fri, 04 May 2007 09:21:37 GMT)

Ailing subprime lender shuts mortgage unit
NEW YORK -- New Century Financial Corp. , the biggest subprime mortgage company to declare bankruptcy, will close its home-lending unit and fire about 2,000 employees after failing to find a buyer. (Fri, 04 May 2007 09:22:38 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 04 May 2007 09:23:48 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, 04 May 2007 09:38:27 GMT)

Working with a 2/28 mortgage
The idea is to improve your credit score before you refinance, says Dr. Don. (Fri, 04 May 2007 10:00:00 GMT)

GM cites mortgage meltdown as profit falls 90%
Citing restructuring costs and big losses from its mortgage lending business, General Motors Corp. on Thursday reported a 90 percent plunge in first-quarter earnings. The company lost its long-standing place as the world's largest automaker during the... (Fri, 04 May 2007 10:39:59 GMT)

Alumni groups asked to reveal student loan deals / Firm has agreements with San Jose State, UC Riverside clubs
New York Attorney General Andrew Cuomo has opened a new front in his student loan industry investigation, subpoenaing and requesting documents from 90 alumni associations nationwide, including those from San Jose State University and UC Riverside. At... (Fri, 04 May 2007 10:56:12 GMT)

GM cites mortgage meltdown as profit falls 90%
Citing restructuring costs and big losses from its mortgage lending business, General Motors Corp. on Thursday reported a 90 percent plunge in first-quarter earnings. (Fri, 04 May 2007 11:29:23 GMT)

Working with a 2/28 mortgage
Dear Dr. Don, I purchased a home a year ago. I did an 80/20 financing. The mortgage I chose was a 2/28 ARM. The housing market was doing quite well at the time. Since that time I am afraid the value of my home has dropped. (Fri, 04 May 2007 11:32:58 GMT)

Several players in home mortgage market agree on principles for borrowers in trouble
WASHINGTON -- Several major participants in the home mortgage market have agreed to adopt a set of principles for dealing with homeowners with high-priced loans who face possible foreclosure, the chairman of the Senate Banking Committee said yesterday. (Fri, 04 May 2007 11:52:43 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, 04 May 2007 12:11:39 GMT)

Thornburg Mortgage Prices Offering
Mortgage lender Thornburg Mortgage Inc. said Friday it priced a follow-on equity offering of 4.5 million common shares at $27.05 each. (Fri, 04 May 2007 14:34:09 GMT)

SWBC Mortgage group commits to support Fisher Houses
SWBC Mortgage Corp. donated $1,500 to one of the Fisher Houses located at the Brooke Army Medical Center (BAMC). (Fri, 04 May 2007 15:33:19 GMT)

ODU records to be subpoenaed in student loan investigation
NORFOLK - New York's attorney general broadened a months-long investigation into the student loan industry by subpoenaing records from the alumni associations of Old Dominion University, James Madison . . . (Fri, 04 May 2007 17:06:45 GMT)

Think You're Paying Too Much on Your Car Loan?
(ARA) - You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. (Fri, 04 May 2007 17:53:10 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? (Fri, 04 May 2007 17:53:37 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. (Fri, 04 May 2007 18:26:39 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? (Fri, 04 May 2007 19:46:30 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, 04 May 2007 19:56:50 GMT)

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