Mortgage News Jun 2007

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ICICI, BoB, OBC plan to launch reverse mortgage schemes
ICICI Bank and Bank of Baroda are among the half a dozen private and public lenders planning to launch reverse mortgage products that will enable senior citizens owning a house to earn regular income. (Tue, 05 Jun 2007 13:22:36 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, 05 Jun 2007 15:40:47 GMT)

Donor helps trust buy poet's home
Fans of Cornish poet Charles Causley are lent the money to buy his Launceston home, Cypress Well. (Tue, 05 Jun 2007 17:12:38 GMT)

Mortgage lender opens Denver office
Mortgage lender BMC Capital LP has opened a Colorado office at 1400 16th St. in downtown Denver. (Tue, 05 Jun 2007 17:54:11 GMT)

Use Auto Refinancing to Ease the Family Budget
(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. It's reported that gas prices could exceed $4 per gallon this summer. (Tue, 05 Jun 2007 18:25:03 GMT)

Disparities Found in Loan Rates to Minorities: Efforts to Curb Abuses Not Working
Disparities in bank lending to minorities has only gotten worse, according to a study by a fair lending group of 2006 data that found black and Hispanic borrowers were much more likely than white borrowers to get a high-cost loan usually meant for borrowers with bad credit. (Tue, 05 Jun 2007 18:29:06 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, 05 Jun 2007 18:50:51 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, 05 Jun 2007 19:42:48 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. (Tue, 05 Jun 2007 19:54:57 GMT)

Mortgage Trade Group Lobbies Government
The Commercial Mortgage Securities Association will lobby the federal government on terrorism insurance and mortgage-related legislation, according to a federal disclosure form. (Tue, 05 Jun 2007 20:04:04 GMT)

NovaStar mortgage unit completes $1.4B securitization
NovaStar Financial Inc.'s mortgage subsidiary has completed a $1.4 billion securitization of non-conforming mortgage assets. (Tue, 05 Jun 2007 20:09:48 GMT)

Wachovia mortgage exec retiring
Less than a year after joining the company, Wachovia Corp.'s mortgage head has announced his retirement, effective at the end of the year. Jim Judd, 68, joined the Charlotte bank in October through the acquisition of California-based mortgage specialist Golden West Financial Corp. He has led the mortgage business and other retail credit products such as home-equity loans. "He wants to spend more ... (Tue, 05 Jun 2007 20:30:36 GMT)

NovaStar mortgage unit completes $1.4B securitization
NovaStar Financial Inc.'s mortgage subsidiary has completed a $1.4 billion securitization of nonconforming mortgage assets. (Tue, 05 Jun 2007 20:39:40 GMT)

Wachovia mortgage exec to retire
Jim Judd, president and chief operating officer of Wachovia Corp.'s mortgage business, will retire at the end of the year. (Tue, 05 Jun 2007 21:36:42 GMT)

Mortgage Meltdown: Where Does Chattanooga Fit In?
The housing boom during early part of the decade ended in a bust for some homeowners.  The American dream turned into a nightmare, as missed mortgage payments resulted in foreclosure.  Where does Chattanooga fit into this national problem? read more (Tue, 05 Jun 2007 22:09:28 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? (Tue, 05 Jun 2007 22:16:17 GMT)

Luminent Mortgage Capital Announces Completion of $90 Million of Convertible Senior Notes Offering and Repurchase of ...
SAN FRANCISCO, June 5 /PRNewswire-FirstCall/ -- Luminent Mortgage Capital, ( Nachrichten ) Inc. announced today that it has completed its previously announced offering of its 8.125% convertible senior notes due 2027 to the initial purchaser of the notes. (Tue, 05 Jun 2007 22:19:07 GMT)

Auto Loan Refinance = Lower Payments
(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, 06 Jun 2007 00:22:07 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, 06 Jun 2007 00:22:58 GMT)

Woolwich offers new fix and track mortgage
Woolwich, the mortgage division of UK high street banking giant Barclays, has launched its new fix and track mortgage, which is designed to help borrowers beat the uncertainty of the current interest rate cycle. (Wed, 06 Jun 2007 01:28:59 GMT)

Seniors say they were duped, suing mortgage company
Two senior citizens are suing a mortgage company to say they're victims of a predatory loan scam. Now, a group called ACORN that works to help low and moderate income families is stepping in to help them win the case. (Wed, 06 Jun 2007 01:56:41 GMT)

Proposed loan comes under fire
City support is eroding for a forgivable loan to popular Congress Avenue restaurant Las Manitas. Tuesday one council member came out against it, and another expressed reservations. (Wed, 06 Jun 2007 02:43:58 GMT)

Many hope new law will stop mortgage fraud
DENVER - Rosa Madrigal says she sees victims of mortgage fraud everyday. She hopes new laws in Colorado will change that. (Wed, 06 Jun 2007 03:09:42 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, 06 Jun 2007 03:16:33 GMT)

FBI, IRS Take Action On Mortgage Fraud
More than 20 agents stormed the offices of Freedom Capital Mortgage, VFM Investment Group, Lyon Real Estate and several homes in the surrounding area. (Wed, 06 Jun 2007 03:22:08 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, 06 Jun 2007 05:29:14 GMT)

Katz Mortgage Team Now Offers New FHA Loans With Higher loan limits and 100% financing
Katz Mortgage Team, www.KatzMortgageTeam.net, of Amtrust Mortgage Corporation, has announced they are now offering new FHA loans. These home loans have been updated with new higher loan limits up to $544,000 depending on the county; however, most metropolitan counties have a limit between $200,000 and $300,000. Also, with down payment assistance, they can now offer 100% financing. (Wed, 06 Jun 2007 07:01:00 GMT)

Katz Mortgage Team Now Offers New FHA Loans With Higher loan limits and 100% financing
Katz Mortgage Team, www.KatzMortgageTeam.net, of Amtrust Mortgage Corporation, has announced they are now offering new FHA loans. These home loans have been updated with new higher loan limits up to $544,000 depending on the county; however, most metropolitan counties have a limit between $200,000 and $300,000. Also, with down payment assistance, they can now offer 100% financing. (PRWeb Jun 6, ... (Wed, 06 Jun 2007 07:07:17 GMT)

Mortgage rates pressure economy
Another scheduled increase to adjustable rate mortgages is about to hit the nation and state, which could put more families out of their homes, but area economists predict job and income growth will (Wed, 06 Jun 2007 09:15:30 GMT)

Workshop: Use Excel to analyse a home loan
With interest rates predicted to rise further this year it’s important to know exactly what a mortgage costs and how it might be affected by interest rate rises. (Wed, 06 Jun 2007 09:36:24 GMT)

Mortgage strife for two million young homeowners
LONDON (Reuters) - More than two million young property owners have conceded they will struggle to meet their mortgage repayments amid rising interest rates. (Wed, 06 Jun 2007 09:51:12 GMT)

Home equity loan saved the day
Real estate mogul Barbara Corcoran once tapped the equity in her home to save her company. Today, her firm racks up $5 billion in annual sales. (Wed, 06 Jun 2007 10:00:00 GMT)

Ahead of the Bell: Mortgage Applications
Mortgage-application data to be released Wednesday will give investors signs about how lenders are being affected by the housing market's slump. (Wed, 06 Jun 2007 10:09:06 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 6.65 1.50 6.35 4 25 -24 15-Year Fixed 6.43 1.20 6.13 8 31 -10 7-Year Balloon 5.75 0.97 5.51 9 21 -97 5-Year Balloon 6.22 1.00 5.97 4 11 -76 ARM, 1-Yr Tsy 6.02 1.14 5.74 -1 2 -31 FHA 203 (b) 6.68 0.89 6.53 10 27 -8 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 06 Jun 2007 11:04:52 GMT)

U.S. mortgage applications decline in week: MBA
U.S. mortgage applications declined last week, dragged down by sinking demand for home refinancing with long-term interest rates at their highest level since October, an industry group said on Wednesday. (Wed, 06 Jun 2007 11:10:59 GMT)

Auto Loan Refinance = Lower Payments
(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, 06 Jun 2007 12:14:34 GMT)

30-year mortgage rates hit 8-month high
WASHINGTON – Rates on 30-year mortgages rose for a third straight week, hitting the highest level in eight months. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.42 percent in its nationwide survey last week. (Wed, 06 Jun 2007 12:32:25 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 06 Jun 2007 13:26:20 GMT)

Mortgage applications hit by rates
MBA's index falls 1.7 percent as home refinancing demand slips due to high long-term interest rates. (Wed, 06 Jun 2007 13:29:05 GMT)

Feckless fathers will be refused a mortgage
'Deadbeat dads' who refuse to pay child maintenance will be barred from getting a mortgage under new legislation announced today. (Wed, 06 Jun 2007 13:29:56 GMT)

Mortgage insurers feel heat
AUSTRALIA'S leading mortgage insurers are feeling the pinch from rising home loan defaults, after insurance claims from banks and other lenders soared more than 500 per cent last year. (Wed, 06 Jun 2007 14:00:00 GMT)

Loan defaults on the rise
MORTGAGE insurers are feeling the pinch from rising home loan defaults, with insurance claims for bad loans from banks and other lenders soaring. (Wed, 06 Jun 2007 14:00:00 GMT)

Revamping Mortgage Insurance
JUNE 06, 2007 -- Federal Housing Administration (FHA) mortgage insurance brings great financing benefits not available anywhere else. (Wed, 06 Jun 2007 14:16:16 GMT)

Mortgage application volume down: survey
CHICAGO (MarketWatch) -- Mortgage loan application volume decreased a seasonally adjusted 1.7% last week, as interest rates on fixed-rate mortgages continued to inch up, according to the Mortgage Bankers Association's weekly survey released Wednesday. (Wed, 06 Jun 2007 15:38:10 GMT)

MBA: Mortgage Applications Dip 1.7 Pct
Applications for home loans decreased last week amid a slumping housing market and more stringent lending standards, an industry organization reported Wednesday. (Wed, 06 Jun 2007 16:24:53 GMT)

Lower home sales, prices forecast; mortgage demand dips
A real estate industry trade group said Wednesday it expects sales of existing homes to drop 4.6% this year to 6.2 million (Wed, 06 Jun 2007 16:30:27 GMT)

SWBC expands into reverse-mortgage business
Southwest Business Corp. (SWBC) has created a new Reverse Mortgage division at the local company. (Wed, 06 Jun 2007 16:48:15 GMT)

U.S. mortgage applications decline in week: MBA
The Mortgage Bankers Association's mortgage application index slipped 1.7 percent to a seasonally adjusted 625.3 in the week ended June 1. A rise in applications to buy homes was overshadowed by the drop in refinancing applications. (Wed, 06 Jun 2007 18:53:09 GMT)

Student-loan probe widens to underwriting
New York Attorney General Andrew Cuomo said on Wednesday he is widening a probe of the student-loan industry to target underwriting standards, prompting lawmakers at a U.S. Senate committee hearing to raise questions about possible discriminatory red-lining. (Wed, 06 Jun 2007 19:37:12 GMT)

Australia's Home-Loan Approvals Probably Rose in April on Jobs
June 7 (Bloomberg) -- Australia's home-loan approvals probably rose at the fastest pace in almost a year in April as an employment boom stoked confidence among property buyers. (Wed, 06 Jun 2007 19:37:30 GMT)

NHB in talks to develop reverse mortgage insurance
The National Housing Bank (NHB) has proposed a mortgage assurance scheme in line with the bancassurance scheme that is operated by banks. (Wed, 06 Jun 2007 19:38:14 GMT)

Fitch Affirms Genworth Mortgage 'AA' IFS Ratings
Fitch Ratings affirms the 'AA' insurer financial strength (IFS) ratings of the mortgage insurance subsidiaries of Genworth Financial, ( Nachrichten ) Inc. (GNW) (see complete list below). Fitch has also affirmed GNW's ratings via a separate Rating Action Commentary . (Wed, 06 Jun 2007 19:49:38 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, 06 Jun 2007 20:48:57 GMT)

Auto Loan Refinance = Lower Payments
(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, 06 Jun 2007 21:24:57 GMT)

Student-loan probe widens to underwriting
New York Attorney General Andrew Cuomo said on Wednesday he is widening a probe of the student-loan industry to target underwriting standards, prompting lawmakers at a U.S. Senate committee hearing to raise questions about possible discriminatory red-lining. (Wed, 06 Jun 2007 21:48:02 GMT)

Australia's Home-Loan Approvals Probably Rose in April on Jobs
June 7 (Bloomberg) -- Australia's home-loan approvals probably rose at the fastest pace in almost a year in April as an employment boom stoked confidence among property buyers. (Wed, 06 Jun 2007 22:04:46 GMT)

Student loan scandal spreads to underwriting
A scandal in the $85-billion U.S. student loan industry expanded on Wednesday as officials raised questions about possible discriminatory practices by lenders to students based on where they attend school. (Wed, 06 Jun 2007 22:50:52 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Thu, 07 Jun 2007 00:26:21 GMT)

Making a new home in Southeast Iowa
(NEW LONDON, IOWA) She's lived in places like Iran and China but now calls Southeast Iowa home. Torie McLaughlin is a first time homeowner in New London, Iowa after getting a USDA housing loan. (Thu, 07 Jun 2007 02:35:23 GMT)

Online Lenders Fast Track the Refinancing Process
(ARA) - It's always a good idea to read the fine print. But when it comes to your mortgage, failing to do so can lead to financial disaster. That's the situation many homeowners are finding themselves in now that the housing market has cooled. (Thu, 07 Jun 2007 03:09:40 GMT)

Towards a lower home loan burden
In the long run, the amended Securities Bill may partly determine the interest rates that you pay on your home loans. However, some technical issues still need to be resolved (Thu, 07 Jun 2007 03:42:51 GMT)

Ex-mortgage broker sentenced to 12 years, fined $3.45M
DAYTON — A former mortgage broker convicted of 48 felony counts was sentenced Tuesday to 12 years in prison and fined $3.45 million. (Thu, 07 Jun 2007 05:10:03 GMT)

Online Lenders Fast Track the Refinancing Process
(ARA) - It's always a good idea to read the fine print. But when it comes to your mortgage, failing to do so can lead to financial disaster. That's the situation many homeowners are finding themselves in now that the housing market has cooled. (Thu, 07 Jun 2007 05:28:40 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, 07 Jun 2007 06:07:27 GMT)

‘Mad bear’ Legislature tightens up on mortgage brokers
Last year, the Colorado General Assembly finally acted to regulate mortgage loan brokers, leaving Alaska as the only state not to do so. (Thu, 07 Jun 2007 06:15:19 GMT)

New Home Mortgage Loan Rate Products for Canadians - from The Mortgage Store Online
The Mortgage Store Online (TMSO) today announced their offering of several new mortgage rate products for home loans in Canada. Canadians can use these new mortgage options - which are new types of adjustable rate and fixed rate mortgages - to purchase a new home, refinance their current property, tap into their home's equity, and much more. (Thu, 07 Jun 2007 07:01:00 GMT)

Woman sues mortgage firm over firing
In a case that highlights ethical gray areas in the mortgage industry, a Sioux Falls underwriter is suing her former employer for wrongful termination. (Thu, 07 Jun 2007 07:07:05 GMT)

New Home Mortgage Loan Rate Products for Canadians - from The Mortgage Store Online
The Mortgage Store Online (TMSO) today announced their offering of several new mortgage rate products for home loans in Canada. Canadians can use these new mortgage options - which are new types of adjustable rate and fixed rate mortgages - to purchase a new home, refinance their current property, tap into their home's equity, and much more. (PRWeb Jun 7, 2007) Post Comment:Trackback URL: ... (Thu, 07 Jun 2007 07:22:13 GMT)

Abode Mortgage Corporation and PMI Canada to Offer Mortgage Insurance
VANCOUVER, BRITISH COLUMBIA-- - Abode Mortgage Corporation , a new non-conforming mortgage lender, today announced that it has signed with PMI Insurance Company Canada to provide mortgage insurance on Abode's product offerings. (Thu, 07 Jun 2007 10:00:08 GMT)

New mortgage for diversifying farmers Farmers Weekly
The Agricultural Mortgage Corporation has launched a new type of loan to support the increasing number of farmers who are diversifying. (Thu, 07 Jun 2007 10:01:29 GMT)

Bankrate: Mortgage Rates Bound Higher
Mortgage rates increased for the sixth consecutive week, with the average 30-year fixed mortgage rate hitting a 10-month high of 6.61 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.26 discount and origination points. (Thu, 07 Jun 2007 11:39:00 GMT)

Bankrate: Mortgage Rates Bound Higher
NEW YORK, June 7 /PRNewswire-FirstCall/ -- Mortgage rates increased for the sixth consecutive week, with the average 30-year fixed mortgage rate hitting a 10-month high of 6.61 percent. (Thu, 07 Jun 2007 11:52:22 GMT)

Falcon Ridge Development, Inc. Receives New Mexico Mortgage License
Falcon Ridge Development, Inc., a real estate development and home building company located in Albuquerque, New Mexico, through its wholly owned subsidiary, Falcon Ridge Financial LLC, has been approved and is licensed to broker mortgage loans in New Mexico. (Thu, 07 Jun 2007 12:53:00 GMT)

Most homeowners unhappy with adjustable-rate mortgage
A recent study on Michigan's housing market found that a majority of homeowners in the Detroit metro area are unsatisfied with their untraditional mortgage products and plan to refinance in a traditional fixed-rate note. (Thu, 07 Jun 2007 13:07:08 GMT)

UB Foundation increases funds for home loan program
More UB faculty and staff members will be able to buy homes in the neighborhoods around the South Campus, thanks to a major, multimillion-dollar boost to the UB Home Loan Guaranty Program by the UB Foundation (UBF). (Thu, 07 Jun 2007 13:16:34 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? (Thu, 07 Jun 2007 13:53:07 GMT)

Mortgage rates hit 10-month high
Mortgage rates jumped to the highest level in 10 months after recent reports on unemployment, wage growth and labor costs fanned growing fears about a pickup in inflation, Freddie Mac said Thursday. (Thu, 07 Jun 2007 14:43:55 GMT)

30-year-mortgage rate jumps to 6.53% average
Rates on 30-year mortgages jump to the highest level in 10 months. Average rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, rose to 6.22 percent. (Thu, 07 Jun 2007 15:02:25 GMT)

Mortgage rates jump
WASHINGTON Rates on 30-year mortgages rose for a fourth straight week, hitting the highest level in 10 months, as bond markets responded to strong employment growth. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.53 percent this week. That was up sharply from 6.42 percent last week and represented the highest point for 30-year mortgages since they ... (Thu, 07 Jun 2007 15:15:06 GMT)

30-year mortgage rate hits 6.53%, highest since August
Rates on 30-year mortgages rose for a fourth straight week, hitting the highest level in 10 months, as bond markets responded to strong employment growth. (Thu, 07 Jun 2007 15:16:31 GMT)

U.S. mortgage rates hit 10-month highs
CHICAGO (MarketWatch) -- Mortgage rates reached 10-month highs this week, responding to market concerns of a tight labor force and wage growth, Freddie Mac's chief economist said Thursday. (Thu, 07 Jun 2007 15:23:08 GMT)

Mortgage bank settles with state commissioner
Challenge Financial Investors Corp. has agreed to pay $848,000 to settle allegations of poor supervision and controls in its mortgage operations, according to an announcement from the N.C. Office of the Commissioner of Banks. (Thu, 07 Jun 2007 15:57:55 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, 07 Jun 2007 16:16:44 GMT)

Falcon Ridge Development, Inc. Receives New Mexico Mortgage License
Falcon Ridge Development, Inc. (OTCBB: FCNR), a real estate development and home building company located inAlbuquerque, New Mexico, through its wholly owned subsidiary, Falcon RidgeFinancial LLC, has been approved and is licensed to broker mortgage loansin New Mexico. This will allow Falcon Ridge to provide better service toits home buyers. (Thu, 07 Jun 2007 16:30:50 GMT)

Mortgage broker fined $848,000
A mortgage company with seven offices in the Charlotte area has agreed to pay a fine of $848,000 for failing to control and supervise its employees, including allowing unlicensed employees to arrange at least 100 mortgage loans. Challenge Financial Investors Corp., which is based in Florida, also agreed to impose tighter controls on its operations as part of its settlement with state regulators, ... (Thu, 07 Jun 2007 17:00:46 GMT)

Bollard's mortgage bite starts to hurt
Mortgage rate rises are already hurting homeowner Georgina Newman, and will dent the spirits of many more people over the next year as fixed-term loan rates come up for renewal. (Thu, 07 Jun 2007 17:27:06 GMT)

Residential mortgage rates on the rise again as bond yields move up
TORONTO (CP) - Residential mortgage rates headed up a notch again Thursday as bond yields jumped. (Thu, 07 Jun 2007 19:17:00 GMT)

Ohio Atty Gen Sues Brokers, Lenders For Mortgage Fraud
WASHINGTON -(Dow Jones)- Ohio Attorney General Marc Dann said Thursday that he has filed lawsuits against 10 brokers, lenders and others for allegedly violating state consumer protection laws and committing mortgage fraud. (Thu, 07 Jun 2007 19:17:34 GMT)

House panel eyes student-loan "redlining"
A House committee said on Thursday it is seeking information from student-loan companies about possible "redlining" practices that may discriminate against students at historically black colleges. (Thu, 07 Jun 2007 19:34:09 GMT)

Federal Mortgage Reform Unlikely in 2007
Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. (Thu, 07 Jun 2007 19:46:15 GMT)

Federal Home Loan Bank of Chicago Awards $10.5 Million in Affordable Housing Grants
The Federal Home Loan Bank of Chicago has awarded approximately $10.5 million to help finance more than 2,300 affordable housing units located primarily in Illinois and Wisconsin through its Affordable Housing Program competitive grant process. (Thu, 07 Jun 2007 19:49:00 GMT)

No major reform this year, lawmakers, regulators point to self-correcting mortgage market
WASHINGTON - Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach... (Thu, 07 Jun 2007 20:04:08 GMT)

Mortgage rates on the rise again
Mortgage rates are rising for the third time in three weeks as the cost of borrowed money increases. (Thu, 07 Jun 2007 20:07:34 GMT)

Royal Bank raises residential mortgage rates
Residential mortgage rates headed up a notch again Thursday as bond yields jumped. First off the mark in raising rates was the Royal Bank (TSX: RY ), which announced increases of between 0.10 and 0.15 percentage points. (Thu, 07 Jun 2007 20:08:16 GMT)

Metrocities Mortgage Completes Strategic Investment From Sterling Partners - Update
(RTTNews) - Thursday, Metrocities Mortgage LLC said that it has completed a strategic investment from Sterling Partners. With the closure of transaction, Metrocities will become part of Prospect Mortgage Co. LLC and will continue to operate under the Metrocities name. (Thu, 07 Jun 2007 21:31:32 GMT)

Reputed Loan Shark Shot In Suspected Mob Hit
A reputed loan shark and bookkeeper believed connected to the Genovese crime family was found shot to death in his Shore Parkway home. (Thu, 07 Jun 2007 23:30:15 GMT)

Realty Q&A: Mortgage-insurance tax status alters loan math
WASHINGTON (MarketWatch) -- Question: As of Jan. 1, private mortgage insurance is tax deductible. This is something worth mentioning in your next PMI article for your readers. Karl Holub, senior mortgage consultant, Accurate Finance, Buffalo Grove, Ill. (Thu, 07 Jun 2007 23:37:38 GMT)

Lawmakers quiz student loan lenders on 'redlining'
WASHINGTON (Reuters) -- Two congressional committee chairmen and New York's attorney general said Thursday they are asking student loan firms about possible "redlining" practices that may discriminate against students at historically black colleges. (Fri, 08 Jun 2007 01:53:24 GMT)

Home loan approvals up again
MORE than 66,000 people gained approval in April for a housing loan, undeterred by high house prices and adding to the risk of an interest rate rise. (Fri, 08 Jun 2007 02:30:00 GMT)

Pero warns homeowners of mortgage peril
Mortgage broker Mike Pero is warning of a wave of home sales after the third interest rate hike this year. (Fri, 08 Jun 2007 02:37:44 GMT)

Federal Mortgage Reform Unlikely in 2007
Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. (Fri, 08 Jun 2007 03:10:13 GMT)

Federal Mortgage Reform Unlikely in 2007
WASHINGTON (AP) — Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. (Fri, 08 Jun 2007 03:15:17 GMT)

Australian Home-Loan Approvals Rise 2.2% on Jobs Boom (Update2)
June 8 (Bloomberg) -- Australia's home-loan approvals rose for a fifth straight month in April as the lowest jobless rate in almost 33 years buoyed property-buyers' confidence. (Fri, 08 Jun 2007 03:37:30 GMT)

Federal Mortgage Reform Unlikely in 2007
WASHINGTON -- Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach as they confront the fallout from several years of lenders making too many home loans to people with inadequate credit. (Fri, 08 Jun 2007 03:43:22 GMT)

New York State Subpoenas Vanderbilt Appraisal in Mortgage Probe
June 8 (Bloomberg) -- New York Attorney General Andrew Cuomo, who is investigating whether mortgage brokers pressured appraisers to inflate property values, subpoenaed records from Vanderbilt Appraisal Company LLC. (Fri, 08 Jun 2007 04:44:57 GMT)

Realty Q&A: Mortgage-insurance tax status alters loan math
Realty Q&A: Mortgage-insurance tax status alters loan math (Fri, 08 Jun 2007 06:23:39 GMT)

Australian Home-Loan Approvals Rise 2.2% on Jobs Boom (Update3)
June 8 (Bloomberg) -- Australia's home-loan approvals rose for a fifth straight month in April as the lowest jobless rate in almost 33 years buoyed property-buyers' confidence. (Fri, 08 Jun 2007 06:52:20 GMT)

No mortgage reform from Congress
Lawmakers, regulators point to signs of self-correcting market. | Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. (Fri, 08 Jun 2007 07:32:01 GMT)

How you can get a higher home loan
The easiest way to increase the home loan eligibility is to go in for the maximum tenure of repayment that a bank is willing to give. (Fri, 08 Jun 2007 08:12:51 GMT)

10 mortgage lenders sued; state alleges illegal practices
Accusing 10 mortgage lenders of "unconscionable acts," Ohio Attorney General Marc Dann yesterday sued the companies he said violated the state's 5-month-old predatory-lending law. (Fri, 08 Jun 2007 08:37:08 GMT)

Regulators say mortgage market is self correcting
Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. (Fri, 08 Jun 2007 09:23:13 GMT)

N.C. fines mortgage company
A mortgage company fined Tuesday by N.C. regulators is already in trouble in other states, including allegations it is headed by a convicted felon who has been banned from working in the banking industry. Challenge Financial Investors Corp., which has six Charlotte offices, agreed to pay $848,000 for failing to supervise its employees, including allowing unlicensed staff to arrange more than 100 ... (Fri, 08 Jun 2007 10:25:10 GMT)

• Housing loan race heats up on eve of mortgage reform
Turkish banks are in brisk competition to get as many customers as possible for their housing loans on the eve of the unveiling of Turkey’s long-awaited mortgage system. (Fri, 08 Jun 2007 11:53:44 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, 08 Jun 2007 13:40:58 GMT)

Mortgage giants rise over sub-prime crisis
FANNIE Mae and Freddie Mac, the once-derided white elephants of the mortgage market, are benefiting from the sub-prime lending debacle and trampling just about anything in their way. (Fri, 08 Jun 2007 14:00:00 GMT)

Online Lenders Fast Track the Refinancing Process
(ARA) - It's always a good idea to read the fine print. But when it comes to your mortgage, failing to do so can lead to financial disaster. That's the situation many homeowners are finding themselves in now that the housing market has cooled. (Fri, 08 Jun 2007 15:00:47 GMT)

Hawaii mortgage rates: 6.125%
Less than a month after cracking 6 percent, Hawaii mortgage rates have hit 6.125 percent with what appears to be continuing upward pressure. (Fri, 08 Jun 2007 18:16:07 GMT)

Dodd seeks tougher rules for mortgage lenders
Dodd, who is seeking his party’s nomination for the 2008 presidential election, is at odds with Federal Reserve Chairman Ben S. Bernanke over how to defend against abuse and fraud in the mortgage market. (Fri, 08 Jun 2007 18:45:46 GMT)

Auto Loan Refinance = Lower Payments
(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, 08 Jun 2007 19:11:09 GMT)

NY AG Cuomo Probe In Mortgage Industry Practices Expands
NEW YORK -(Dow Jones)- New York Attorney General Andrew Cuomo's probe into whether mortgage brokers pressured appraisers to inflate property values as housing prices increased in recent years continues to expand. (Fri, 08 Jun 2007 20:02:15 GMT)

Hawaii mortgage rates: 6.125%
Less than a month after cracking 6 percent, Hawaii mortgage rates have hit 6.125 percent with what appears to be continuing upward pressure. (Fri, 08 Jun 2007 20:16:16 GMT)

MAA Assurance enters mortgage
PETALING JAYA: Malaysian Assurance Alliance Bhd (MAA Assurance), in an effort to move away from commercial loans that had caused its non-performing loans (NPLs) to balloon, will launch its first comprehensive mortgage loan plan next month. (Fri, 08 Jun 2007 23:22:07 GMT)

Peter G. Miller: Medical debts unlikely to affect home loan if payments timely
Q: My husband and I are thinking of purchasing a home. A couple of years ago, I had major surgery, didn't have the insurance I thought I did and am responsible for all the debt. I'm making regularly scheduled payments, but the total is huge. (Fri, 08 Jun 2007 23:23:38 GMT)

Mform and Intelligent Finance link up to offer quick mortgage decisions
EDINBURGH-BASED online mortgage arranger Mform is pioneering direct internet mortgage applications through a partnership with HBOS-owned Intelligent Finance, also located in the Scottish capital. (Fri, 08 Jun 2007 23:41:11 GMT)

Five of Canada's big banks hike mortgage rates to follow Royal Bank
TORONTO (CP) - Residential mortgage rates climbed higher on Friday as five of Canada's big banks responded to a hike at Royal Bank a day earlier amid fears that growing inflation pressures are becoming too strong to ignore. (Fri, 08 Jun 2007 23:54:51 GMT)

Mortgage lender's bankruptcy may mean starting over
Good news: You are preapproved for a mortgage. Bad news: The lender that approved you just went bust. (Sat, 09 Jun 2007 01:08:04 GMT)

Auto Loan Refinance = Lower Payments
(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, 09 Jun 2007 01:53:40 GMT)

Campton Hills almost home on loan for new village hall
CAMPTON HILLS – The Village Board is a bank loan away from signing off on a permanent home in Campton Square. (Sat, 09 Jun 2007 06:54:56 GMT)

Met Mortgage ex-exec guilty in fraud trial
A federal jury convicted a former Metropolitan Mortgage ...curities executive of three felonies Friday stemming from a shady real-estate... (Sat, 09 Jun 2007 07:13:58 GMT)

AIG settles allegations of mortgage overcharges
American International Group Inc. has settled with a federal banking regulator allegations that it charged homeowners excessive mortgage fees and didn't properly consider their credit ratings. (Sat, 09 Jun 2007 07:14:10 GMT)

Shopping around for a mortgage worth the effort
A reader writes: "Please tell me what reliable bank or mortgage company would have the best lending rate for a 30-year fixed loan. I don't have time to..." (Sat, 09 Jun 2007 07:17:50 GMT)

AIG settles mortgage allegations
WASHINGTON - American International Group Inc. has settled allegations that it charged excessive mortgage fees and didn't properly consider homeowners' credit ratings. (Sat, 09 Jun 2007 08:02:35 GMT)

Ohio AG sues 10 mortgage lenders
COLUMBUS, Ohio - Attorney General Marc Dann has sued 10 mortgage lenders, accusing them of pressuring real-estate appraisers to inflate home values - a practice that Dann said has left an increasing number of Ohio borrowers with homes that can't be sold and loans that can't be refinanced. (Sat, 09 Jun 2007 09:12:00 GMT)

AIG settles charges of high mortgage fees with regulator
NEW YORK, June 9 (newratings.com) – The US insurance company American International Group Inc ( AIG.NYS ) Friday said that it had settled charges of excessive mortgage fees levied by the Federal Office of Thrift Supervision. (Sat, 09 Jun 2007 11:58:10 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. (Sat, 09 Jun 2007 12:14:08 GMT)

Mform and Intelligent Finance Link Up to Offer Quick Mortgage Decisions
By Rosemary Gallagher EDINBURGH-BASED online mortgage arranger Mform is pioneering direct internet mortgage applications through a partnership with HBOS-owned Intelligent Finance, also located in the Scottish capital. (Sat, 09 Jun 2007 14:09:13 GMT)

Bob Bruss: Buyers need to watch out for mortgage lenders' hidden fees
Dear Bob: Which home mortgage fees are proper for a lender to charge borrowers? I recall you said some fees are unnecessary junk or garbage fees to avoid — Stephen O. (Sat, 09 Jun 2007 15:23:38 GMT)

Panicking won't help pay the mortgage
Times are getting tougher for mortgage holders, but the experts are advising homeowners staring at interest rate rises to sit tight, go back to the family budget and not rush into hasty decisions. (Sat, 09 Jun 2007 17:27:20 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. (Sat, 09 Jun 2007 17:31:33 GMT)

Legislature wants to make it tougher on those that commit mortgage fraud
PHOENIX - State senators are preparing to give final approval this coming week to new laws designed to imprison bankers, loan officers and even home buyers who engage in mortgage fraud. (Sat, 09 Jun 2007 17:35:22 GMT)

Translated loan summary may be law
Non-English speakers could benefit from a proposed state law that will require home loan documents to be translated into five languages after the state Assembly voted to pass the bill late Thursday. (Sat, 09 Jun 2007 19:00:28 GMT)

Fixed-rate mortgage holders facing 20% repayment hike
Almost 40,000 homeowners will pay 20 per cent more on their monthly mortgage repayments over the coming year as their discount mortgage deals end. (Sat, 09 Jun 2007 23:08:09 GMT)

First-time buyers have to spend half their salary on mortgage payments
First-time housebuyers are being forced to spend almost half of their take-home pay on mortgage repayments, compared with a little over a third of their income three years ago. (Sat, 09 Jun 2007 23:10:14 GMT)

Auto Loan Refinance = Lower Payments
(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, 10 Jun 2007 05:31:39 GMT)

Economists debate specifics of Inland's future economy
Consumer spending is a bubble that will burst in coming months, punctured by mortgage failures and a pullback in home refinancing. Over the next two years, median home prices will decline by 25 percent in Riverside County and 18 percent in San Bernardino Counties, adjusted for inflation. (Sun, 10 Jun 2007 05:48:55 GMT)

Houston mortgage monitor
INDIVIDUAL LENDER RATES The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. Rates, which may change on Monday, are for 90 percent loans and do not include origination fees. The numbers in parentheses after the rates are discount points. A point is equal to 1 percent of the loan amount (Sun, 10 Jun 2007 05:51:27 GMT)

Campton Hills almost home on loan for new village hall
CAMPTON HILLS – The Village Board is a bank loan away from signing off on a permanent home in Campton Square. (Sun, 10 Jun 2007 05:53:02 GMT)

Mortgage rates climb for sixth straight week
Mortgage rates increased for the sixth consecutive week, with the average 30-year fixed mortgage rate hitting a 10-month high of 6.61 percent, according to Bankrate.com's weekly national survey of large lenders. (Sun, 10 Jun 2007 07:14:29 GMT)

Home improvement loan interest rates
Bank Rate Type Months Charter One 6.99% F 120 Comerica 7.49% F 60 LaSalle Bank Midwest 7.15% F 120 (Sun, 10 Jun 2007 07:28:08 GMT)

Mortgage industry cleaning up its act, broker claims
MUNCIE -- The mortgage loan industry has often been blamed for the nation's high rate of foreclosed homes. Subprime lenders -- who offer loans with high interest rates to people with bad credit -- are cited for fueling the home loan boom that has turned into a national foreclosure bust. (Sun, 10 Jun 2007 07:31:29 GMT)

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