Mortgage News May 2007
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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, 08 May 2007 09:26:44 GMT)
Lawmakers predict crisis resulting from ‘predatory' mortgage lenders
ALBANY — Over the next two years 50,000 New York homeowners may lose their homes as a result of “predatory” mortgage lenders who target minorities and middle-class families, state Senate Democrats said Monday. (Tue, 08 May 2007 09:35:50 GMT)
How Will Your Mortgage Rate?
Mortgages come in two primary forms, fixed rate and adjustable rate , with some hybrid combinations and multiple derivatives of each. A basic understanding of interest rates and the economic influences that determine the future course of interest rates can help consumers make financially sound mortgage decisions, such as making the choice between a fixed-rate mortgage or adjustable-rate mortgage ... (Tue, 08 May 2007 09:36:44 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, 08 May 2007 09:54:57 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, 08 May 2007 09:55:27 GMT)
Mortgage of the week
The Halifax is offering a fixed rate deal until 30 September 2009, at a rate of 5.29 per cent, reverting to the standard variable rate for the remaining term of the mortgage, currently 7.25 per cent. (Tue, 08 May 2007 10:13:02 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, 08 May 2007 10:55:06 GMT)
First-Timers In 16-Year Mortgage Squeeze
First-time buyers are feeling the squeeze of higher interest rates, with mortgage affordability at its worst level for 16 years. (Tue, 08 May 2007 11:49:01 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, 08 May 2007 11:56:39 GMT)
BofA eliminates mortgage fees
Bank of America Corp. has expanded its no-fee mortgage program nationwide. (Tue, 08 May 2007 12:11:52 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? (Tue, 08 May 2007 13:11:28 GMT)
Bank of America eliminates mortgage fees
Bank of America Corp. has expanded its no-fee mortgage program nationwide. (Tue, 08 May 2007 13:51:38 GMT)
Mortgage lender enters Tri-State market
A national mortgage lending company has opened its first Ohio branch office in Symmes Township. (Tue, 08 May 2007 14:22:56 GMT)
Lawson & Associates Mortgage Planners Nearly Double Annual Loan Volume Since Standardizing on Salesforce for Financial ...
Salesforce.com , the market and technology leader in on-demand business services, today announced that Lawson & Associates Mortgage Planners has chosen Salesforce for Financial Services to provide a secure and easy way for its mortgage planners and support staff to share information both internally and externally with its lender and realtor partners. Salesforce for Financial Services combines ... (Tue, 08 May 2007 15:55:15 GMT)
Mortgage affordability hits 16-year low
First-time buyers are feeling the squeeze of higher interest rates with mortgage affordability at its worst level for 16 years, figures out today showed. (Tue, 08 May 2007 16:00:04 GMT)
Man is charged with taking local woman's mortgage money
A man who allegedly grabbed a Lancaster Township woman's mortgage money from her purse last Aug. 25 has been arrested on a robbery charge, Lancaster City police report. Kyiman Jeffrey Shivers, 28, of the 300 block of North Pine Street, allegedly took $500 from the 30-year-old woman while he and... (Tue, 08 May 2007 16:58:32 GMT)
U.S. Home Prices to Drop in 2007 on Loan Standards (Update2)
May 8 (Bloomberg) -- U.S. home price declines this year are going to be steeper than earlier forecast because of the drop in subprime mortgage lending and the adoption of stricter loan standards, the National Association of Realtors said. (Tue, 08 May 2007 17:41:57 GMT)
Congress Debates Mortgage Reforms
Congress is looking at potential reforms to risky home lending practices, but a Tuesday hearing at a House subcommittee suggested many lawmakers are still sorting out the complex workings of the mortgage market _ and some are unsure whether reforms will necessary in the short term. (Tue, 08 May 2007 18:35:58 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, 08 May 2007 19:25:36 GMT)
Congress Debates Mortgage Reforms
Congress is looking at potential reforms to risky home lending practices, but a Tuesday hearing at a House subcommittee suggested many lawmakers are still sorting out the complex workings of the mortgage market _ and some are unsure whether reforms will necessary in the short term. (Tue, 08 May 2007 19:38:50 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, 08 May 2007 19:40:12 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, 08 May 2007 19:40:29 GMT)
17 penalized in 'mortgage flipping'
Seventeen businesses and individuals will face disciplinary action for their involvement in a mortgage fraud ring that targeted five South Side properties and used one mortgage company, state officials announced today. (Tue, 08 May 2007 20:04:07 GMT)
Congress debates mortgage reforms
Congress is looking at potential reforms to risky home lending practices, although a House subcommittee hearing on Tuesday suggests lawmakers are still sorting out the complex workings of the mortgage market and wondering whether reforms will be necessary or helpful. (Tue, 08 May 2007 20:08:57 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, 08 May 2007 20:12:43 GMT)
Subprime mortgage lending: A cross-country blame game
Lenders in California say big investment banks encouraged and pushed them to make risky loans, while Wall Street bank executives say mortgage lenders became sloppy and did not pay enough attention to fraud. (Tue, 08 May 2007 20:26:23 GMT)
Fitch Downgrades Irwin Home Equity's Resi Servicer Ratings to 'RPS2-'
NEW YORK----Fitch Ratings downgrades Irwin Home Equity Corporation's , a subsidiary of Irwin Financial Corporation , residential primary servicer ratings for home equity and high loan-to-value products to 'RPS2-' from 'RPS2'. (Tue, 08 May 2007 20:38:00 GMT)
Federal Home Loan Bank of Boston Announces First Quarter 2007 Results
The Federal Home Loan Bank of Boston announced the following unaudited results for the quarter ended March 31, 2007: (Tue, 08 May 2007 20:41:00 GMT)
Congress debates mortgage reforms
Congress is looking at potential reforms to risky home lending practices, although a House subcommittee hearing on Tuesday suggests lawmakers are still sorting out the complex workings of the mortgage market and wondering whether reforms will be necessary or helpful. (Tue, 08 May 2007 21:31:48 GMT)
Congress Debates Mortgage Reforms
Congress is looking at potential reforms to risky home lending practices, although a House subcommittee hearing on Tuesday suggests lawmakers are still sorting out the complex workings of the mortgage market and wondering whether reforms will be necessary or... (Tue, 08 May 2007 22:52:56 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, 08 May 2007 22:56:54 GMT)
Financial Crossing Announces New Release of Advanced Mortgage and Liability Advice Solution
Financial Crossing, Inc. today announced the availability of Liability Manager 3.0, the financial industry's most advanced mortgage and liability management solution. The platform enables financial institutions and lending professionals to deliver actionable advice on their clients' portfolios of mortgages and other consumer debt. (Tue, 08 May 2007 23:01:30 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, 08 May 2007 23:23:10 GMT)
State takes action in mortgage probe
(Crain's) -- State regulators announced Tuesday that they have taken action against 11 people and six companies they allege were involved in mortgage fraud rings that flipped more than 100 Chicago-area homes. Actions ranging from filing complaints seeking hearings to license revocation to ... (Tue, 08 May 2007 23:30:41 GMT)
Companies, individuals face discipline for alleged mortgage fraud
SPRINGFIELD, Ill. More than a dozen companies and individuals face disciplinary action for allegedly taking part in mortgage fraud involving more than 100 homes in the Chicago area. (Wed, 09 May 2007 02:19:56 GMT)
U.S. refinancing down but not out
Fears U.S. homeowners are using their homes like "ATMs," depleting their equity, are overblown, the No. 2 provider of money for U.S. home loans said Tuesday. (Wed, 09 May 2007 02:20:24 GMT)
U.S. refinancing down but not out
Homeowners' equity grew to nearly $11 trillion at the end of 2006, an increase of 30 percent over the past three years, even after cash-out refinancing, Freddie Mac said in its monthly report. (Wed, 09 May 2007 02:22:21 GMT)
U.S. refinancing down but not out
Fears U.S. homeowners are using their homes like ATMs, depleting their equity, are overblown, the No. 2 provider of money for U.S. home loans said Tuesday.Homeowners' equity grew to nearly $11 trillion at the end of 2006, an increase of 30 percent over the past three years, even after cash-out refinancing, Freddie Mac said in its monthly report.Despite the current U.S. real estate weakness, homes ... (Wed, 09 May 2007 03:03:33 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, 09 May 2007 04:01:08 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, 09 May 2007 04:01:28 GMT)
Congress is puzzling over home loan reform
WASHINGTON - Congress is looking at reforms to risky home lending practices, although a House subcommittee hearing on Tuesday suggests lawmakers are still sorting out the complexities of the mortgage market and wondering whether reforms will be helpful. (Wed, 09 May 2007 04:04:09 GMT)
Home Federal names new CEO
NILES — Lawrence Safarek has been appointed president and chief executive officer of both Home Federal Savings & Loan association of Niles and First Niles Financial Inc., directors announced Monday. (Wed, 09 May 2007 04:05:09 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, 09 May 2007 05:28:50 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Wed, 09 May 2007 05:29:31 GMT)
Realtors gloomier on home prices
U.S. home price declines this year are going to be steeper than forecast because of the drop in subprime mortgage lending and the adoption of stricter loan standards, the National Association of Realtors said. (Wed, 09 May 2007 05:35:48 GMT)
Companies, individuals face discipline for alleged mortgage fraud
SPRINGFIELD, Ill. More than a dozen companies and individuals face disciplinary action for allegedly taking part in mortgage fraud involving more than 100 homes in the Chicago area. (Wed, 09 May 2007 05:58:11 GMT)
ProspectZone To Share Successful Strategies For Buying Mortgage Leads In Free Webinar For Loan Officers
Loan officers can hear successful http://prospectzone.com/mortgage/webinars/2007-04-mortgage-lead-webinar.html [tips for buying mortgage leads ] by tuning in to ProspectZone's free webinar, "Mortgage Lead Generation -- Loan Officers Share Their Stories and Strategies." The 20-minute webinar features practical advice from two seasoned mortgage lead buyers, helping loan officers make smarter ... (Wed, 09 May 2007 07:01:00 GMT)
Loanisland Announces Mortgage Home Loans that Close in 7 Days
Loanisland launched their new website with a special loan product for home buyers looking to close their mortgage loan within a week. (Wed, 09 May 2007 07:01:00 GMT)
Proposed mortgage tax hike divides Dutchess lawmakers
POUGHKEEPSIE - Dutchess County Legislature Chairman Gary Cooper is counting on the full support of the Republican caucus Thursday for a resolution to impose a countywide mortgage tax, a move and keep the county budget from falling into the red. (Wed, 09 May 2007 07:20:20 GMT)
ProspectZone To Share Successful Strategies For Buying Mortgage Leads In Free Webinar For Loan Officers
Loan officers can hear successful http://prospectzone.com/mortgage/webinars/2007-04-mortgage-lead-webinar.html [tips for buying mortgage leads] by tuning in to ProspectZone's free webinar, "Mortgage Lead Generation -- Loan Officers Share Their Stories and Strategies." The 20-minute webinar features practical advice from two seasoned mortgage lead buyers, helping loan officers make smarter ... (Wed, 09 May 2007 07:23:08 GMT)
More mortgage companies helping to bail out homeowners
WASHINGTON -- Ernestine Witherspoon managed to hang onto her house in Washington even after she lost her job and fell far behind on her mortgage payments. (Wed, 09 May 2007 07:24:35 GMT)
Loanisland Announces Mortgage Home Loans that Close in 7 Days
Loanisland launched their new website with a special loan product for home buyers looking to close their mortgage loan within a week. (PRWeb May 9, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/UHJvZi1TcXVhLVBpZ2ctRW1wdC1UaGlyLVplcm8= (Wed, 09 May 2007 07:30:16 GMT)
Subprime-mortgage woes trigger a loss for Alesco
This year's subprime-mortgage turmoil has forced a Philadelphia specialty-finance company to record an unrealized loss of $65.6 million on its $3.6 billion portfolio of mortgage-backed securities. (Wed, 09 May 2007 08:02:25 GMT)
Group sees larger home-price drop
U.S. home-price declines this year are going to be steeper than once forecast because of the drop in subprime mortgage lending and stricter loan standards, the National Association of Realtors said. (Wed, 09 May 2007 09:06:31 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, 09 May 2007 09:54:51 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, 09 May 2007 09:55:43 GMT)
Creative Mortgage Solutions unveils generic packager application
Advisors accessing Creative Mortgage Solutions products will benefit from a direct process in which Trigold's pre-population technology will simplify and speed up the application by taking information input during the search process, and transferring it into the application form. (Wed, 09 May 2007 09:57:43 GMT)
Have 1st and 2nd mortgage, but need cash
If you have enough equity, your choices include a cash-out refi or a home equity line of credit, says Dr. Don. Each has advantages. (Wed, 09 May 2007 10:00:00 GMT)
Mortgage Payments An Increasing Burden For Britons
Mortgage costs are rising as a percentage of household income, it has been confirmed. (Wed, 09 May 2007 10:20:50 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. (Wed, 09 May 2007 10:27:04 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, 09 May 2007 10:27:24 GMT)
Have 1st and 2nd mortgages, but need cash
Dear Dr. Don, I am considering either refinancing or taking out a home equity line of credit (HELOC). Currently, we have a first and a second mortgage on our home. (Wed, 09 May 2007 11:49:08 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, 09 May 2007 12:12:00 GMT)
Mortgage applications rise for third straight week
Mortgage applications rose for the third straight week, driven by demand for both purchases and refinancings, an industry trade group said Wednesday. (Wed, 09 May 2007 12:25:57 GMT)
US mortgage applications rise for 3rd straight week
NEW YORK - US mortgage applications rose for the third straight week, driven by demand for both purchases and refinancings, an industry trade group report showed on Wednesday. (Wed, 09 May 2007 12:52:55 GMT)
Dream home destroyed by mortgage fraud 9:05 AM
Dream homes are turning to nightmares for dozens of homeowners in Gaston and Cleveland counties because of questionable loans. The state attorney general is now going after the mortgage broker who got them for the homeowners. (Wed, 09 May 2007 13:46:44 GMT)
Regulators looking to revoke license of mortgage broker
State regulators are trying to revoke the license of a local mortgage broker they say arranged home loans his customers couldn't afford. James Hall and his company, Hall Financial Services, are accused of failing to make reasonable efforts to ensure that customers could afford the loans. (Wed, 09 May 2007 14:34:46 GMT)
Mortgage apps climb for third straight week
Mortgage applications climbed for the third straight week, according to the latest report by the Mortgage Bankers Association, helped by an increase in both refinancing and purchasing activity. (Wed, 09 May 2007 14:44:00 GMT)
First Horizon Acquires Republic Mortgage
Financial services company First Horizon National Corp. on Wednesday said its home loans unit acquired Republic Mortgage LLC, which has four branches throughout the Las Vegas area. (Wed, 09 May 2007 16:22:41 GMT)
Home Loan Applications Rose Last Week
More people applied for mortgage loans last week, as homeowners sought to refinance their home loans and more people asked to borrow money to buy houses, an industry group reported Wednesday. (Wed, 09 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, 09 May 2007 17:11:40 GMT)
PNC to acquire California mortgage brokerage
PNC Financial Services Group Inc. said Wednesday it agreed to acquire ARCS Commercial Mortgage. (Wed, 09 May 2007 18:37:55 GMT)
Four Vice Presidents Appointed at the Federal Home Loan Bank of San Francisco
SAN FRANCISCO----The Board of Directors of the Federal Home Loan Bank of San Francisco has promoted Steven Cibull to Vice President, Mortgage Finance; Richard Knowles to Vice President, Application Services; and Andrew Westwood to Vice President, Application Development. (Wed, 09 May 2007 18:51:00 GMT)
PNC to Buy ARCS Commercial Mortgage
Northeast regional bank PNC Financial Services Group Inc. said Wednesday it agreed to acquire Calabasas Hills, Calif.-based ARCS Commercial Mortgage, in a move to expand PNC's multifamily lending and servicing capabilities. (Wed, 09 May 2007 19:23:33 GMT)
First Horizon unit buys mortgage firm
First Horizon Home Loans has acquired Republic Mortgage in Las Vegas. (Wed, 09 May 2007 19:38:03 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, 09 May 2007 20:01:39 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? (Wed, 09 May 2007 20:01:52 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? (Wed, 09 May 2007 20:56:50 GMT)
BNP enters Sundaram Home
Mumbai, May 9 : BNP Paribas will acquire a 49.9 per cent stake in Sundaram Home Finance for Rs 196.98 crore. This will give the French banking group an exposure to the booming housing loan market. (Wed, 09 May 2007 21:58:50 GMT)
Rise in Britons' mortgage spending
First-time British homebuyers spend more of their income on mortgage costs than at any time in the past 16 years, an industry association says. (Wed, 09 May 2007 22:05:14 GMT)
Businessman gets five years for mortgage fraud
U.S. District Judge Dean Whipple sentenced Jeffrey Tyler Wine to five years in federal prison and ordered him to pay $4.9 million in restitution for his role in a nearly $17.6 million mortgage fraud scheme that involved 280 residential properties. (Wed, 09 May 2007 22:12:06 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, 09 May 2007 23:57:41 GMT)
Vallejo Mortgage Co. Charged With $3.5M In Fraud
The Alameda County District Attorney’s office said Wednesday that the husband and wife owners of a Vallejo mortgage company have been arrested in connection with a complex real estate fraud scheme through which they allegedly stole more than $3.5 million. (Thu, 10 May 2007 00:16:00 GMT)
What Makes You Mad? Sky-high interest on loan 9:18 PM
CROWDERS MOUNTAIN, N.C. -- What makes you mad? How about interest on your home loan that costs even more than the amount you borrowed to begin with? A Gaston County man wanted us to find out how he still owes the bank three times what his mobile home is worth when the loan should have been paid off. (Thu, 10 May 2007 01:46:44 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, 10 May 2007 02:05:29 GMT)
Mortgage fraud bill gets final passage
A bill that would give consumers tough new weapons against mortgage fraud is on its way to Gov. Tim Pawlenty. Spokesman Brian McClung said Wednesday that Pawlenty is expected to sign it. The bill, which the state House of Representatives approved Wednesday on a 129-3 vote, gives individuals and companies the right to sue if they have been victimized by dishonest or predatory lending practices, ... (Thu, 10 May 2007 02:15:44 GMT)
Ameriquest Mortgage is sued over refinancings
Twenty-nine families in St. Louis and four Missouri counties have filed lawsuits accusing Ameriquest Mortgage Co., a California-based mortgage lender, of engaging in abusive practices related to refinancing home loans. (Thu, 10 May 2007 03:19:15 GMT)
Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Thu, 10 May 2007 03:47:47 GMT)
Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Thu, 10 May 2007 05:57:49 GMT)
More mortgage companies helping to bail out homeowners
WASHINGTON -- Ernestine Witherspoon managed to hang onto her house in Washington even after she lost her job and fell far behind on her mortgage payments. (Thu, 10 May 2007 07:24:42 GMT)
Countrywide expands amid mortgage industry turmoil
Countrywide makes more loans in April as refinancings increase. The mortgage industry may be contracting, but No. 1 lender Countrywide Financial Corp. is making more loans, taking advantage of a period of turmoil to increase its market share. (Thu, 10 May 2007 07:41:10 GMT)
PNC to buy mortgage lender ARCS
PNC Financial Services Group Inc. said Wednesday it has agreed to acquire ARCS Commercial Mortgage, a Calabasas Hills, Calif.-based lending company. (Thu, 10 May 2007 07:51:32 GMT)
AG cites need for law criminalizing mortgage fraud
Massachusetts Attorney General Martha Coakley is pushing to have the Legislature criminalize mortgage fraud, saying current laws are not adequate. Boston Globe reporter Kimberly Blanton spoke with Coakley about the state of Massachusetts law. (Thu, 10 May 2007 10:37:21 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, 10 May 2007 10:53:50 GMT)
Anglo Irish First-Half Net Climbs 60% on Loan Demand (Update3)
May 10 (Bloomberg) -- Anglo Irish Bank Plc, Ireland's third- largest bank, said first-half earnings rose 60 percent, helped by higher loan demand in its home market as well in the U.K. and U.S. (Thu, 10 May 2007 11:27:57 GMT)
Bankrate: Mortgage Rates Eke Out an Increase
NEW YORK, May 10 /PRNewswire-FirstCall/ -- Mortgage rates inched higher, with the average 30-year fixed mortgage rate rising to 6.29 percent. According to Bankrate.com ( Nachrichten ) 's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.24 discount and origination points. (Thu, 10 May 2007 11:36:53 GMT)
Comprehensive Home Loan Resource Now Available for Consumers Online
The Mortgage Bankers Association today announced the launch of its updated Home Loan Learning Center , an interactive online resource that provides consumers with critical information on mortgages and the home-buying process. (Thu, 10 May 2007 12:00:00 GMT)
Luminent Mortgage Capital Announces Strong First Quarter Earnings
Luminent Mortgage Capital, Inc. today reported net income for the quarter ended March 31, 2007 of $14.4 million, or $0.30 per share. (Thu, 10 May 2007 12:00:00 GMT)
Board to consider refinancing debt
NESHAMINY - But the board president questioned why other firms weren't interviewed for the refinancing process. (Thu, 10 May 2007 12:03:14 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, 10 May 2007 12:12:12 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, 10 May 2007 12:12:22 GMT)
Protect your interests during refinancing
Spring is when many a consumer's thoughts turn to homebuying. But for thousands of Canadians, spring is also the time to think about mortgage refinancing. People may have caught the renovation bug and require funds to finance home improvements. (Thu, 10 May 2007 13:52:00 GMT)
No Worries: Sub-Prime Mortgage Not Spilling Over To Over Other Credit Areas
Chad Brand submits: Below is an excerpt from the first quarter earnings press release of a consumer lender that serves lower end customers, including some who would be classified as sub-prime borrowers, but is not involved in the mortgage: Factors adversely affecting our first quarter results included lower than expected fee assessments due to lower than [... ] (Thu, 10 May 2007 14:44:16 GMT)
Bankrate: Mortgage Rates Eke Out an Increase
NEW YORK, May 10 /PRNewswire-FirstCall/ -- Mortgage rates inched higher, with the average 30-year fixed mortgage rate rising to 6. (Thu, 10 May 2007 15:09:17 GMT)
Mortgage rates finish week mixed
Mortgage rates were mixed this week, with longer-term rates easing slightly, Freddie Mac said Thursday, on cooling inflationary fears. (Thu, 10 May 2007 15:29:05 GMT)
Westar issuing $100M in mortgage bonds
Westar Energy Inc. will issue $100 million in mortgage bonds to help finance construction of a new power plant and transmission line. (Thu, 10 May 2007 15:44:39 GMT)
U.S. mortgage rates show little change
CHICAGO (MarketWatch) -- Mortgage rates moved only slightly over the week, held steady by signs of low inflation, Freddie Mac's chief economist said on Thursday. (Thu, 10 May 2007 15:52:38 GMT)
Comprehensive Home Loan Resource Now Available for Consumers Online
The Mortgage Bankers Association (MBA) today announced the launch of its updated Home Loan Learning Center (http://www.homeloanlearningcenter.com/), an interactive online resource that provides consumers with critical information on mortgages and the home-buying process. (Thu, 10 May 2007 16:18:52 GMT)
Anglo Irish First-Half Net Climbs 60% on Loan Demand (Update4)
May 10 (Bloomberg) -- Anglo Irish Bank Plc, Ireland's third- largest bank, said first-half earnings rose 60 percent, helped by higher loan demand in its home market as well in the U.K. and U.S. (Thu, 10 May 2007 16:57:47 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, 10 May 2007 17:39:17 GMT)
Mortgage rates edge lower
WASHINGTON (AP) - Mortgage rates on the most popular kind of home loan are down again. Mortgage giant Freddie Mac says 30-year, fixed-rate mortgages averaged 6.15 percent nationwide this week, down slightly from 6.16 percent last week. The low for the year was 6.14 percent in early March. (Thu, 10 May 2007 18:18:16 GMT)
Mortgage rates drop slightly
Mortgage rates on the most popular kind of home loan are down again. (Thu, 10 May 2007 18:35:32 GMT)
Shearson Financial Network, Inc. Launches Loan Resolution Platform
Shearson Financial Network, Inc. (OTCBB: SFNN) (www.sfnncorp.com) announced today that it has expanded its directresponse marketing for solicitation of mortgage loans into the loanresolution arena via Shearson's facility in Irvine, California. The Companyis now also working with warehouse banking lenders and small mortgage banksto resolve problem loans for them by having Shearson refinance out ... (Thu, 10 May 2007 18:44:49 GMT)
Mortgage applications fall for a fifth week
Mortgage applications fell for the fifth consecutive week, largely reflecting a drop in demand for home purchase loans, an industry trade group said Wednesday. (Thu, 10 May 2007 18:49:44 GMT)
Cash sources dry up for subprime mortgage lenders
The meltdown among subprime mortgage lenders broadened Tuesday, as shares of Accredited Home Lenders Holding (LEND) lost two-thirds of their value and New Century Financial (NEWC) sank, with investors fearing both would run out of cash. (Thu, 10 May 2007 19:09:39 GMT)
Subprime mortgage woes keep home builders glum in March
Deepening problems in the subprime mortgage sector, which caters to borrowers with weak credit histories, chipped away at U.S. home builder confidence in March, the National Association of Home Builders said Monday. (Thu, 10 May 2007 19:10:06 GMT)
New-home sales fall 3.9% in February to lowest rate in 7 years
The nation's home builders are scaling back their construction plans for the year, and a report Monday provided the clearest sign to date why: Sales of new homes plunged in February to their lowest point in nearly seven years, the Commerce Department said. (Thu, 10 May 2007 19:19:33 GMT)
Credit-score panacea failed to stop mortgage crisis
LOS ANGELES (Reuters) - The crisis that has swept the U.S. subprime mortgage industry may come down to a simple, three-digit number, multiplied by millions. (Thu, 10 May 2007 19:20:48 GMT)
Orange County mortgage casualties
Acoustic Home Loans , Orange. Closed in April 2006. Laid off 203 people. ACC Capital Holdings , Orange. Laid off an estimated 3,000 of the 6,000 employees at its Ameriquest Mortgage Co., Argent Mortgage Co. (Thu, 10 May 2007 19:35:45 GMT)
Australia's Home-Loan Approvals Probably Rose in March on Jobs
May 11 (Bloomberg) -- Australia's home-loan approvals probably rose for a fourth month in March an employment boom stoked confidence among property buyers. (Thu, 10 May 2007 19:53:44 GMT)
Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Thu, 10 May 2007 19:54:13 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, 10 May 2007 19:54:20 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? (Thu, 10 May 2007 19:54:30 GMT)
Australia's Home-Loan Approvals Probably Rose in March on Jobs
May 11 (Bloomberg) -- Australia's home-loan approvals probably rose for a fourth month in March an employment boom stoked confidence among property buyers. (Thu, 10 May 2007 21:55:55 GMT)
Credit-score panacea failed to stop US mortgage crisis
LOS ANGELES, May 10 (Reuters) - The crisis that has swept the U.S. subprime mortgage industry may come down to a simple, three-digit number, multiplied by millions. (Thu, 10 May 2007 22:50:59 GMT)
Impac Mortgage Holdings, Inc. Announces Results of First Quarter 2007
IRVINE, Calif., May 10 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings, ( Nachrichten ) Inc. ("IMH" or the "Company"), a real estate investment trust ("REIT"), reports first quarter 2007 net loss of $121.7 million, or $1.65 per diluted common share, as compared to net earnings of $85.6 million, or $1.07 per diluted common share for the first quarter 2006. Included in the net (loss) earnings was ... (Thu, 10 May 2007 23:19:18 GMT)
Mortgage borrowers face strain after fourth increase in a year
The Bank of England's decision to raise base rates by a quarter of a percentage point will add around £23 a month to the cost of the average £120,000 interest-only mortgage, or £16 to the equivalent home loan set up on a repayment basis. (Fri, 11 May 2007 00:21:02 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? (Fri, 11 May 2007 01:33:45 GMT)
Kenneth Harney: Is BofA's no-fee home-loan offer for real?
WASHINGTON - Home-loan industry competitors are searching for hidden gimmicks, but Bank of America insists its "No Fee Mortgage Plus" plan announced Tuesday delivers exactly what the name implies - without raising (Fri, 11 May 2007 02:02:40 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. (Fri, 11 May 2007 03:11:41 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Fri, 11 May 2007 03:11:51 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? (Fri, 11 May 2007 04:11:34 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, 11 May 2007 04:12:35 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Fri, 11 May 2007 05:08:32 GMT)
Mortgage Brokers Association Condemns Real Estate Scheme
The California Association of Mortgage Brokers is condemning a local real estate scheme that has left several investors nearly broke and many Elk Grove homes in foreclosure. (Fri, 11 May 2007 06:22:55 GMT)
Mortgage Brokers Association Condemns Real Estate Scheme
The California Association of Mortgage Brokers is condemning a local real estate scheme that has left many investors nearly broke and many Elk Grove homes in foreclosure. (Fri, 11 May 2007 06:49:46 GMT)
Australia's March Home-Loan Approvals Likely Climbed (Update1)
May 11 (Bloomberg) -- Australia's home-loan approvals probably increased for a fourth month in March as an employment boom stoked confidence among property buyers. (Fri, 11 May 2007 08:08:44 GMT)
Mortgage borrowers face strain after fourth increase in a year
The Bank of England's decision to raise base rates by a quarter of a percentage point will add around £23 a month to the cost of the average £120,000 interest-only mortgage, or £16 to the equivalent home loan set up on a repayment basis. (Fri, 11 May 2007 09:02:56 GMT)
Orange County mortgage casualties
Acoustic Home Loans , Orange. Closed in April 2006. Laid off 203 people. ACC Capital Holdings , Orange. Laid off an estimated 3,000 of the 6,000 employees at its Ameriquest Mortgage Co., Argent Mortgage Co. (Fri, 11 May 2007 09:50:41 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, 11 May 2007 10:26:56 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? (Fri, 11 May 2007 10:27:07 GMT)
Mortgage lenders increase interest rates
Mortgage lenders announced an increase in the amount they charge borrowers today in response to yesterday's Bank of England interest rate rise. Among the first out of the blocks were Nationwide and Portman building societies and the Royal Bank of Scotland with its One Account , all of whom said their standard variable rates (SVRs) would shortly be going up by 0.25% in line with the base rate rise. (Fri, 11 May 2007 11:14:54 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, 11 May 2007 11:31:39 GMT)
Raiffeisen Investment to advise Hungary on sale of mortgage bank FHB UPDATE
BUDAPEST (Thomson Financial) - Austria's Raiffeisen Investment AG has been appointed advisor to the sale of a majority government stake in mortgage bank FHB, the Hungarian Privatisation Agency (APV) said. (Fri, 11 May 2007 11:48:17 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, 11 May 2007 14:26:41 GMT)
`Chickens' Buy Home Depot in U.S. Home Rebound Play (Update1)
May 11 (Bloomberg) -- Investors who don't have the guts to buy housing stocks just yet are betting on a U.S. residential rebound before it happens -- by buying shares of home- improvement retailers and makers of tools and tape measures. (Fri, 11 May 2007 14:57:03 GMT)
When a reverse mortgage make sense
Question 1: My credit is very good. My wife's is not. If I add her to my checking account and/or add her name to my mortgage, will this bring my credit rating down? -Michael (Fri, 11 May 2007 15:03:00 GMT)
Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Fri, 11 May 2007 15:49:16 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? (Fri, 11 May 2007 16:08:58 GMT)
Bear Stearns Funds to Transfer Subprime-Mortgage Risk With IPO
May 11 (Bloomberg) -- The initial public offering of Everquest Financial Ltd. would allow funds run by Bear Stearns Cos. and Stone Tower Capital LLC to transfer risk from subprime mortgage bonds and buyout loans to other investors. (Fri, 11 May 2007 16:57:17 GMT)
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