Mortgage News Jun 2007

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Mortgage companies make it tougher for buyers to obtain loans
Until a few months ago, most Americans probably didn't know what a subprime mortgage was. But when the mortgage market for borrowers with poor credit imploded earlier this year in a wave of foreclosures and lender bankruptcies, the failure sent shock waves through the entire mortgage industry. (Sun, 10 Jun 2007 07:31:48 GMT)

Real Estate Matters: Read Loan docs before signing or you may have only yourself to blame later
Q: Even though he knew that my home was on the market for sale, my loan officer helped us refinance our house to lower our monthly mortgage payments. He did disclose that there was a prepayment penalty. (Sun, 10 Jun 2007 08:58:01 GMT)

Mortgage rates climbing on employment growth
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. (Sun, 10 Jun 2007 09:32:20 GMT)

Comprehensive Home Loan Resource Now Available for Consumers Online
WASHINGTON, May 10 /PRNewswire/ -- The Mortgage Bankers Association (MBA) today announced the launch of its updated Home Loan Learning Center (http://www. (Sun, 10 Jun 2007 13:53:27 GMT)

Bill toughens Ariz. mortgage fraud laws
State senators are preparing to give final approval this week to new laws designed to imprison bankers, loan officers and even home buyers who engage in mortgage fraud. (Sun, 10 Jun 2007 14:26:38 GMT)

Marketers quick on the trigger
BOSTON - As a former mortgage broker, Adryenn Ashley thought she knew what to expect when she refinanced her house in March. Yet Ashley was unprepared for one twist she encountered: A barrage of phone calls and e-mails from rival lenders vying to sell her a better mortgage. (Sun, 10 Jun 2007 16:34:05 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. (Sun, 10 Jun 2007 17:39:36 GMT)

Do You Have Credit Problems? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Sun, 10 Jun 2007 23:18:58 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. (Mon, 11 Jun 2007 01:10:41 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. (Mon, 11 Jun 2007 01:53:30 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. (Mon, 11 Jun 2007 01:53:40 GMT)

Foreclosures: A Real Boom for Investors
(ARA) - The climate is ripe for an increase in the number of American homes going into foreclosure. Interest rates are on the rise, mortgage payments are continuing to increase and home values are staying stagnant in some places and falling in others. (Mon, 11 Jun 2007 01:54:50 GMT)

S&P warns on riskier mortgage lending
A leading rating agency will today caution that mortgage lending criteria have been "relaxed" in riskier areas of the mortgage market such as buy-to-let and subprime lending to customers with patchy credit records. (Mon, 11 Jun 2007 02:30:03 GMT)

KiwiSaver fee subsidy, mortgage diversion rules
Preparations for the 1 July introduction of KiwiSaver advanced today with the signing of an Order in Council that bring into effect both the annual fee subsidy to be paid to members and the rules governing the use of KiwiSaver to help repay the mortgage on the family home. (Mon, 11 Jun 2007 03:19:27 GMT)

Can family afford for mom to stay at home?
Can family afford for her to stay home with baby? (Mon, 11 Jun 2007 04:06:09 GMT)

Before you refinance, do the math
Since 2002, June has been designated National Homeownership Month. As part of an awareness campaign, the American Bankers Association offers tips on when — and when not — to refinance your home, by asking, "Is refinancing good for you?" Refinancing is a gr... (Mon, 11 Jun 2007 04:11:12 GMT)

Luminus lands Mass. loan, eyes LCDs
Capping off a six-month growth spurt that included product commercialization and the demonstration of a new product for a larger market, LED chip maker Luminus Devices Inc. has closed a $2.5 million loan from the MassDevelopment Corp. to help aid its expansion. (Mon, 11 Jun 2007 04:42:15 GMT)

Mortgage companies struggling
The national crash of the subprime mortgage-lending industry has hit Birmingham hard, a recent study found. (Mon, 11 Jun 2007 05:12:40 GMT)

Standard Chartered Sees 20 Percent Of New Home Loans From Latest Scheme
KUALA LUMPUR, June 11 (Bernama) -- Standard Chartered Bank Malaysia Bhd expects its latest MortgageOne Low Start scheme to make up 20 percent of new home loans. (Mon, 11 Jun 2007 07:05:54 GMT)

Regulators wait-and-see on sub-prime lending
WASHINGTON -- Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn't count on help from Washington this year. (Mon, 11 Jun 2007 07:52:10 GMT)

Financing And Refinancing - The Programs Are Plentiful
Nowadays, anything tangible or even intangible, like the goodwill of a company, can be sold. As the old adage goes: Money makes the world go ‘round! (Mon, 11 Jun 2007 08:07:38 GMT)

S&P warns on riskier mortgage lending
A leading rating agency will today caution that mortgage lending criteria have been "relaxed" in riskier areas of the mortgage market such as buy-to-let and subprime lending to customers with patchy credit records. (Mon, 11 Jun 2007 08:19:35 GMT)

Foreclosures: A Real Boom for Investors
(ARA) - The climate is ripe for an increase in the number of American homes going into foreclosure. Interest rates are on the rise, mortgage payments are continuing to increase and home values are staying stagnant in some places and falling in others. (Mon, 11 Jun 2007 08:38:20 GMT)

Mortgage rates not completely linked to Bank of Canada moves
I'm close to buying my first apartment. A couple weeks ago you reported that the Bank of Canada was leaving rates unchanged. According to my mortgage broker, rates have actually jumped higher. What gives? (Mon, 11 Jun 2007 09:42:03 GMT)

6 sleazy home improvement scams
Home improvement season, sadly, is also a time when crooked contractors prey on innocent homeowners. Here's how to spot them before they get your money. (Mon, 11 Jun 2007 10:00:00 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. (Mon, 11 Jun 2007 10:01:49 GMT)

Mortgage of the Week
Halifax is offering a fixed rate deal until 30 September 2009, at a rate of 5.39%, reverting to the standard variable rate for the remaining term of the mortgage, currently 7.5%. The overall cost for comparison is 7.4% APR. An Early Repayment Charge is payable if you repay all or part of the mortgage during the fixed rate period. (Mon, 11 Jun 2007 10:27:12 GMT)

Latest Mortgage Casualties from MortgageDaily.com
Nonprime programs helped sink three more mortgage companies, according to the latest coverage from http://www.MortgageDaily.com, the dominant source of online news for the mortgage industry. (Mon, 11 Jun 2007 11:00:00 GMT)

Reverse Mortgage of America Opens New Branch Office in North Florida
JACKSONVILLE, Fla.----Reverse Mortgage of America, a division of Seattle Mortgage Company and one of the nation's leading reverse mortgage lenders, today announces the opening of its North Florida branch. (Mon, 11 Jun 2007 11:00:00 GMT)

(AFX UK Focus) 2007-06-11 11:40 GMT: UK lenders with specialist mortgage exposure may face rating pressures - S&P
MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said if UK interest rates and unemployment rise, and house prices fall, lenders in the UK with high exposure to riskier specialist mortgage lending could be vulnerable to rating pressure. (Mon, 11 Jun 2007 11:04:15 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. (Mon, 11 Jun 2007 12:13:51 GMT)

AIG to Record $50 Million Charge in Mortgage Fee Settlement
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. AIG, (Mon, 11 Jun 2007 12:34:05 GMT)

Rising Mortgage Rates
Last weeks plunge in bond prices sent mortgage rates notably higher. Rates\r\non a 30-year loan are running at 6-3/4% to 6-7/8%. (Mon, 11 Jun 2007 13:49:01 GMT)

Foreclosures snag more county homeowners
When Howard Little got a call last year about refinancing, he decided the time was right to pull money out of his home in Boulder Creek to invest in real estate. He bought a house in Sacramento and figured he'd have steady rental payments to supplement his disability income. (Mon, 11 Jun 2007 14:02:49 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 11 Jun 2007 14:08:57 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Mon, 11 Jun 2007 14:09:47 GMT)

Final Senate Vote on Mortgage Fraud Bill
A bill making mortgage fraud a state crime could soon be on the governor's desk. A final Senate vote is expected later today. (Mon, 11 Jun 2007 14:44:10 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. (Mon, 11 Jun 2007 14:56:57 GMT)

Ohio Finance Agency offers loan refinancing
The Ohio Finance Agency said Monday it has begun offering a loan refinancing program for moderate- and low-income Ohioans. (Mon, 11 Jun 2007 15:37:12 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. (Mon, 11 Jun 2007 16:38:05 GMT)

Do You Have Credit Problems? Yes, You Can Still Refinance
(ARA) - If you have bad credit or a low FICO score, you're no doubt doing everything possible to turn things around. But if you have an adjustable rate mortgage (ARM), paying off your debts and cleaning up your credit is about to get a whole lot harder. (Mon, 11 Jun 2007 16:38:13 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Mon, 11 Jun 2007 16:56:48 GMT)

Thornburg Mortgage offers shares
Thornburg Mortgage Inc. today announced the launch of an underwritten public offering of 2 million shares of Series E Cumulative Convertible Redeemable Preferred Stock at $25 per share. (Mon, 11 Jun 2007 17:06:54 GMT)

Confused by new credit score
Q: We recently applied to refinance the mortgage on our house. Instead of giving us a FICO credit score like we have received in the past, the lender used something called a "VantageScore" instead. What is that? (Mon, 11 Jun 2007 17:12:59 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? (Mon, 11 Jun 2007 17:22:36 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. (Mon, 11 Jun 2007 17:23:16 GMT)

Best and worst mortgage rates reveal €37,000 gap
The gap between the best and worst mortgage rates now on the market could see a first time buyer paying €37,000 more than necessary, if rate differences were maintained over the period of their loan, according to a review of the mortgage rates available from top lenders by mortgage brokers Simply Mortgages. (Mon, 11 Jun 2007 17:53:29 GMT)

Sage Credit Mortgage Company Announces New Executive Vice President
IRVINE, Calif.----Sage Credit Company, Inc. announced today that Paul Rodriguez has been promoted to Executive Vice President. This is a new position within the rapidly expanding Sage Credit Company which achieved $1 billion in closed loan volume in its first year of operation in 2006. (Mon, 11 Jun 2007 17:58:00 GMT)

Canara Bank scraps fixed home loan rates
Floating rates hiked by 200 basis points. Canara Bank has stopped mortgage lending at fixed rates and also raised interest charged on floating rate home loans by 175-200 basis points as it grapples with rising defaults. (Mon, 11 Jun 2007 18:34:57 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. (Mon, 11 Jun 2007 19:39:48 GMT)

Foreclosures: A Real Boom for Investors
(ARA) - The climate is ripe for an increase in the number of American homes going into foreclosure. Interest rates are on the rise, mortgage payments are continuing to increase and home values are staying stagnant in some places and falling in others. (Mon, 11 Jun 2007 19:39:58 GMT)

The Home Buying Process: Step by Step
(ARA) - Buying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. (Mon, 11 Jun 2007 19:40:59 GMT)

Fitch Rates MLMI Trust $354.3MM Mortgage Loan Ctfs 2007-SD1
NEW YORK----Fitch rates Merrill Lynch Mortgage Investors Trust, Mortgage Loan Asset-Backed Certificates, series 2007-SD1 as follows: $246.3 million class A and class R 'AAA'; $41.8 million class M-1 'AA'; $21.8 million class M-2 'A'; $19.3 million class M-3 'BBB'; $25.1 class B 'BB'. (Mon, 11 Jun 2007 19:52:00 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. (Mon, 11 Jun 2007 19:52:09 GMT)

Tweeter Home Files for Bankruptcy
Tweeter Home Entertainment Group Inc. Monday filed for Chapter 11 bankruptcy, brought down by a combination of falling prices, declining demand and increased competition from Best Buy Co. and Wal-Mart Stores Inc. (Mon, 11 Jun 2007 20:04:45 GMT)

Ohio Housing Finance Agency offers loan refinancing
The Ohio Finance Agency said Monday it has begun offering a loan refinancing program for moderate- and low-income Ohioans. (Mon, 11 Jun 2007 20:37:28 GMT)

MA Bill Would Criminalize Mortgage Fraud
Mortgage companies that engage in predatory lending practices could face criminal penalties under a bill filed Monday by Gov. Deval Patrick. (Mon, 11 Jun 2007 21:25:18 GMT)

Patrick files bill to criminalize mortgage fraud
BOSTON - Mortgage companies that engage in predatory lending practices could face criminal penalties under a bill filed Monday by Gov. Deval Patrick. The bill would criminalize mortgage fraud, require... (Mon, 11 Jun 2007 21:49:06 GMT)

Mortgage Rates On The Rise
RALEIGH, N.C. -- If you are on the market for a home, mortgage rates are on the rise, but brokers are quick to point out current rates remain low. (Tue, 12 Jun 2007 00:49:57 GMT)

Home Equity Loan Lines of Credit vs. Credit Cards - Which is Better? The Mortgage Store Online Report
The Mortgage Store Online has released an exclusive report on the rate and payment benefits of home equity loan lines of credit, compared to the use of credit cards. This report is directed at North American (U.S. and Canadian) homeowners and potential borrowers, who are looking for low interest credit options. (Tue, 12 Jun 2007 07:01:00 GMT)

Home Equity Loan Lines of Credit vs. Credit Cards - Which is Better? The Mortgage Store Online Report
The Mortgage Store Online has released an exclusive report on the rate and payment benefits of home equity loan lines of credit, compared to the use of credit cards. This report is directed at North American (U.S. and Canadian) homeowners and potential borrowers, who are looking for low interest credit options. (PRWeb Jun 12, 2007) Post Comment:Trackback URL: ... (Tue, 12 Jun 2007 07:12:56 GMT)

HBOS's share of mortgage market falls
HBOS's share of net mortgage lending has fallen sharply in the first half of the year after a failed effort by the UK's fourth-largest bank to retain existing customers. (Tue, 12 Jun 2007 07:40:25 GMT)

Loan fund hosts awards for child care
First State Community Loan Fund is hosting an awards ceremony for home-based child care providers at 6 p.m. today at Delaware State University, MBNA Building, Room 309. (Tue, 12 Jun 2007 07:51:41 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. (Tue, 12 Jun 2007 07:59:48 GMT)

Mortgage worries weigh on FTSE
London equities fell in opening trade on Tuesday, with banking stocks in the vanguard of the decline after news of lower mortgage market share at HBOS and a warning of continued upward pressure on interest rates from the Bank of England. (Tue, 12 Jun 2007 08:06:11 GMT)

HBOS Says U.K. Mortgage Share, Lending Margin to Fall (Update3)
June 12 (Bloomberg) -- HBOS Plc, Britain's biggest mortgage bank, said its U.K. profit margin and market share declined in the first half after a plan to give existing clients more favorable rates backfired. (Tue, 12 Jun 2007 10:25:34 GMT)

Ahead of the Bell: Mortgage Finance
Keefe, Bruyette & Woods on Tuesday hosts a mortgage conference, which will cover issues including credit risk, mortgage real estate investment trusts and more. (Tue, 12 Jun 2007 11:05:15 GMT)

HBOS Says Mortgage Market Share to Dip
HBOS PLC, Britain's largest mortgage bank, said Tuesday that its portion of the home-loan market will drop by as much as half in the first six months of the fiscal year. (Tue, 12 Jun 2007 11:34:40 GMT)

50-year mortgage to be promoted to home buyers
First it was mortgages equal to five or six times a homebuyer's salary. Now the half-century home loan beckons. A UK broker firm today revealed it was in talks with a lender about launching a 50-year mortgage. (Tue, 12 Jun 2007 11:44:54 GMT)

50-year mortgage to be promoted to home buyers
Mortgage broker in talks with lender about launching 50-year home loan. (Tue, 12 Jun 2007 11:52:59 GMT)

Hospital slow to warn of security breach
Concord Hospital CEO Mike Green discovered that his identity had been stolen when the police told him that someone was trying to buy a motorcycle on credit in his name. The theft jeopardized Green's plan to refinance a mortgage and took six weeks to straighten out. He was lucky. (Tue, 12 Jun 2007 12:06:42 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, 12 Jun 2007 12:29:42 GMT)

Fitch Rates $1B IndyMac Home Equity Mtge Loan Asset-Backed Trust INABS 2007-B
NEW YORK----Fitch rates IndyMac Home Equity Mortgage Loan Asset-Backed Trust, series INABS 2007-B, as follows: $739,999,000 classes 1A-1, 1A-2 and 2A-1 through 2A-4, 'AAA'; $55,500,000 class M-1 'AA+'; $52,000,000 class M-2 'AA'; $14,000,000 class M-3 'AA-'; $17,500,000 class M-4 'A+'; $16,500,000 class M-5 'A'; $8,500,000 class M-6 'A-'; $13,500,000 class M-7 'BBB+'; $11,000,000 class M-8 ... (Tue, 12 Jun 2007 14:02:00 GMT)

Ohio agency offers loan refinancing
The Ohio Housing Finance Agency said Monday it has begun offering a loan refinancing program for moderate- and low-income Ohioans. (Tue, 12 Jun 2007 14:38:07 GMT)

50-year mortgage to be promoted to home buyers
A UK mortgage broker today revealed it was in talks with a lender about launching a 50-year home loan. By Rupert Jones. (Tue, 12 Jun 2007 14:54:03 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Tue, 12 Jun 2007 15:08:48 GMT)

Foreclosures: A Real Boom for Investors
(ARA) - The climate is ripe for an increase in the number of American homes going into foreclosure. Interest rates are on the rise, mortgage payments are continuing to increase and home values are staying stagnant in some places and falling in others. (Tue, 12 Jun 2007 15:08:58 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, 12 Jun 2007 17:33:29 GMT)

U.S. Mortgage Foreclosure Filings Rise 90% in May (Update1)
June 12 (Bloomberg) -- U.S. foreclosure filings surged 90 percent in May as more homeowners fell behind on their monthly mortgage payments, RealtyTrac Inc. said. (Tue, 12 Jun 2007 17:40:44 GMT)

HBOS Says U.K. Mortgage Share, Lending Margin Fell (Update6)
June 12 (Bloomberg) -- HBOS Plc, Britain's biggest mortgage bank, said U.K. profit margin and market share fell in the first half as a decision to cut rates for some customers backfired. (Tue, 12 Jun 2007 17:41:33 GMT)

Mortgage-fraud bill OK'd
To clamp down on the bad mortgage deals that inflate Valley home prices, state lawmakers gave their final approval Monday to a bill that would make mortgage fraud a felony. (Tue, 12 Jun 2007 18:27:54 GMT)

HBOS mortgage share hit by pricing error
HBOS, the UK's biggest mortgage lender, has suffered a dramatic loss in its share of the mortgage market at a time when housing has been booming. (Tue, 12 Jun 2007 18:30:39 GMT)

Countrywide Financial May lending up 15%
NEW YORK, June 12 (newratings.com) - Countrywide Financial Corp ( CFC.NYS ) Tuesday announced that its mortgage lending rose 15% y/y in May. (Tue, 12 Jun 2007 18:42:56 GMT)

U.S. Mortgage Foreclosure Filings Rise 90% in May (Update4)
June 12 (Bloomberg) -- U.S. foreclosure filings surged 90 percent in May from a year earlier as more homeowners fell behind on their monthly mortgage payments, RealtyTrac Inc. said. (Tue, 12 Jun 2007 18:59:47 GMT)

Business buzz: University offering home-buying course
Florida Gulf Coast University -- Charlotte will offer a class for first-time home buyers Thursday from 6 to 7:30 p.m. at the Countrywide Home Loans office, 19451 Cochran Blvd., Suite 900, Port Charlotte. Janice Schaeffler, home loan consultant for Countrywide, will teach the class. Cost is $15. (Tue, 12 Jun 2007 19:03:00 GMT)

More signs of turmoil in US subprime sector
Fresh signs of the continuing turmoil in the US subprime mortgage market emerged on Tuesday. Woes in the sector dented Lehman Brothers' still record quarterly earnings, while Countrywide Financial - the biggest US mortgage lender - revealed a doubling in foreclosures over the past year. (Tue, 12 Jun 2007 19:35:46 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Tue, 12 Jun 2007 19:54:25 GMT)

Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Tue, 12 Jun 2007 20:54:56 GMT)

Mortgage-fraud bill OK'd
To clamp down on the bad mortgage deals that inflate Valley home prices, state lawmakers gave their final approval Monday to a bill that would make mortgage fraud a felony. (Tue, 12 Jun 2007 20:59:02 GMT)

Income allocated to first mortgage edges up
First-time buyers are spending a higher proportion of their income on mortgage interest payments than at any time in the last 15 years. (Tue, 12 Jun 2007 21:30:57 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, 12 Jun 2007 21:49:57 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, 12 Jun 2007 23:13:10 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Tue, 12 Jun 2007 23:13:20 GMT)

For junior Methuselahs: the 50-year home loan
As industry data revealed that mortgages are at their least affordable for over a decade, one company yesterday proposed an answer to the crisis hitting first-time buyers: a 50-year home loan. (Tue, 12 Jun 2007 23:14:59 GMT)

Five tips to make sure you get the best mortgage from your broker
WASHINGTON (MarketWatch) -- Think you're getting a good deal from your mortgage broker? Try looking at the fine print. (Wed, 13 Jun 2007 01:37:39 GMT)

Prepayment penalties on subprime loans debated
A key lawmaker is pressing Wall Street bond firms and loan servicers to ease financial penalties imposed on homeowners who pay off their subprime mortgages early, to give stressed borrowers a shot to refinance and avoid foreclosure. (Wed, 13 Jun 2007 02:35:57 GMT)

UPDATE: Five Tips To Make Sure You Get The Best Mortgage From Your Broker
WASHINGTON (Dow Jones) -- Think you're getting a good deal from your mortgage broker? Try looking at the fine print. Your mortgage broker could be getting paid by a lender to sell you a loan. The practice is perfectly legal. (Wed, 13 Jun 2007 02:46:52 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. (Wed, 13 Jun 2007 05:28:18 GMT)

Questions to Ask Before You Agree to a Mortgage -- Countrywide Shares Tips to Help Consumers Understand Mortgage and ...
To help home buyers and homeowners better understand their home loan options, Countrywide is suggesting 10 Questions to Ask Before You Agree to a Mortgage. (Wed, 13 Jun 2007 07:01:00 GMT)

Home Equity Web Sites Fall Behind Top Performers
The Experience of Shopping for a Home Equity Loan Online is Significantly Better on Some Lender Sites (Wed, 13 Jun 2007 07:01:00 GMT)

Home Equity Web Sites Fall Behind Top Performers
The Experience of Shopping for a Home Equity Loan Online is Significantly Better on Some Lender Sites (PRWeb Jun 13, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/UGlnZy1FbXB0LUNvdXAtQ291cC1UaGlyLVplcm8= (Wed, 13 Jun 2007 07:26:36 GMT)

Questions to Ask Before You Agree to a Mortgage -- Countrywide Shares Tips to Help Consumers Understand Mortgage and ...
To help home buyers and homeowners better understand their home loan options, Countrywide is suggesting 10 Questions to Ask Before You Agree to a Mortgage. (PRWeb Jun 13, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/WmV0YS1aZXRhLUVtcHQtQ291cC1UaGlyLVplcm8= (Wed, 13 Jun 2007 07:33:19 GMT)

Mortgage price war looms as Halifax vows to regain top spot after market share halves
HBOS is launching a range of new, tactically priced mortgages every three or four weeks as it fights to regain its crown as the country's biggest mortgage lender. (Wed, 13 Jun 2007 08:15:04 GMT)

For junior Methuselahs: the 50-year home loan
As industry data revealed that mortgages are at their least affordable for over a decade, one company yesterday proposed an answer to the crisis hitting first-time buyers: a 50-year home loan. (Wed, 13 Jun 2007 09:04:42 GMT)

Movers: Companies in the news
HBOS, Britain's biggest mortgage bank, said Tuesday that its British profit margin and market share had fallen in the first half as a decision to cut rates for some customers backfired. (Wed, 13 Jun 2007 09:30:49 GMT)

Home loan relief sought
O'Malley lines up $111 million plan to aid refinancing in face of foreclosure Seeking to reduce the risk of Marylanders losing their homes because of the state's quick foreclosure process, Gov. Martin O'Malley plans to announce today $111 million in private-sector commitments for refinancing and to create a task force charged with studying reforms to protect homeowners. (Wed, 13 Jun 2007 10:29:38 GMT)

Ahead of the Bell: Mortgage Applications
Mortgage-application data set for release Wednesday will give investors the latest sign of whether rising interest rates is keeping a lid on the home loan market. (Wed, 13 Jun 2007 10:59:10 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, 13 Jun 2007 11:18:55 GMT)

Weekly U.S. mortgage volumes on the rise, MBA data show
CHICAGO (MarketWatch) -- Mortgage application volumes rose last week by a seasonally adjusted 6.6% compared with the week before, according to the Mortgage Bankers Association's weekly survey released Wednesday. (Wed, 13 Jun 2007 11:22:38 GMT)

Panel highlights pitfalls in home mortgage industry
FAIRFIELD - The lure of home ownership can be a strong motivator to clean up a less-than-stellar credit rating, pay off debt and save for a down payment. (Wed, 13 Jun 2007 11:23:12 GMT)

U.S. MBA's Mortgage Applications Index Rose 6.6% Last Week
June 13 (Bloomberg) -- Mortgage applications in the U.S. rebounded last week as home purchases surged to a five-month high and refinancing increased. (Wed, 13 Jun 2007 12:00:14 GMT)

Subprime Crash Squeezes Out First-Time Home Buyers (Update1)
June 13 (Bloomberg) -- Josh Tullis, who in his eight years as a senior loan officer rarely felt compelled to reject a first-time home buyer's mortgage application, is sending people away empty- handed in 2007. (Wed, 13 Jun 2007 12:10:44 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, 13 Jun 2007 12:13:44 GMT)

Mortgage apps up after 3-week fall
MBA's index jumps 6.6 percent for the first time in three weeks, even as interest rates climb. (Wed, 13 Jun 2007 12:29:05 GMT)

Mortgage applications up, despite rising rates
Mortgage applications rose for the first time in three weeks even as interest rates surged to their highest level since mid-2006, an industry group said Wednesday. (Wed, 13 Jun 2007 12:59:41 GMT)

Subprime Crash Squeezes Out First-Time Home Buyers (Update1)
June 13 (Bloomberg) -- Josh Tullis, who in his eight years as a senior loan officer rarely felt compelled to reject a first-time home buyer's mortgage application, is sending people away empty- handed in 2007. (Wed, 13 Jun 2007 13:11:04 GMT)

Home loan tycoon's company behind campaign
THE company behind the ACTU marginal seats strategy aimed at driving John Howard from power is co-owned by one of Australia's richest men, home loan tycoon John Kinghorn. (Wed, 13 Jun 2007 14:00:00 GMT)

Fed mulling ban on some mortgage lending: Kroszner
The Federal Reserve Board is weighing whether it should ban some mortgage lending practices that fueled the recent housing market boom, Fed governor Randall Kroszner told a panel of lawmakers Wednesday. (Wed, 13 Jun 2007 14:23:38 GMT)

Nikko Principal Drops Plan for RAMS Mortgage Bid, People Say
June 14 (Bloomberg) -- Nikko Principal Investment Australia, a unit of Japan's third-largest brokerage, dropped an offer for home lender RAMS Mortgage Corp., leaving Kohlberg Kravis Roberts & Co. as the only remaining bidder, two people with knowledge of the matter said. (Wed, 13 Jun 2007 14:37:20 GMT)

Saving without the refinancing the bi-weekly program
Some of the most frequently asked questions we get as mortgage originators are from people who are interested in saving money or shortening their term with out refinancing their current mortgage. (Wed, 13 Jun 2007 15:05:59 GMT)

Federal Home Loan Bank of Atlanta Announces Richard Dorfman as New President and CEO
The Board of Directors of the Federal Home Loan Bank of Atlanta announced today that it has named former investment banker and mortgage market consultant Richard Dorfman to become FHLBank Atlanta's President and Chief Executive Officer. (Wed, 13 Jun 2007 15:34:00 GMT)

Mortgage Applications Rose Last Week
Applications for home loans grew last week even though mortgage rates are rising, an industry group said Wednesday. The Mortgage Bankers Association said its weekly mortgage index, which measures the volume of applications for loans to buy or refinance homes, rose to 666.5, a seasonally adjusted 6.6 percent gain for the week ending June 8. (Wed, 13 Jun 2007 15:51:24 GMT)

Mortgage applications jump 6.6% last week
Purchase applications and applications for refinancing – the component parts of the index – increased 7.2 percent and 5.6 percent, respectively. (Wed, 13 Jun 2007 16:45:36 GMT)

(AFX UK Focus) 2007-06-13 17:38 GMT: Mortgage applications rose last week
WASHINGTON (AP) - Applications for home loans grew last week even though mortgage rates are rising, an industry group said Wednesday. (Wed, 13 Jun 2007 17:05:42 GMT)

Lending target: RBI raises loan limit for poor
Limit of DRI is raised from Rs 6,500 to Rs 15,000 & for home loan from Rs 5,000 to Rs 20,000/ beneficiary. (Wed, 13 Jun 2007 17:23:00 GMT)

O'Malley announces home loan relief
New task force to study reforms to protect homeowners from foreclosure Seeking to reduce the risk of Marylanders losing their homes because of the state's quick foreclosure process, Gov. Martin O'Malley today announced $111 million in private-sector commitments for refinancing and to create a task force charged with studying reforms to protect homeowners. (Wed, 13 Jun 2007 17:30:44 GMT)

Fed mulls ban on some lending practices
The Federal Reserve Board is weighing whether it should ban some mortgage lending practices that fueled the recent housing market boom, Fed governor Randall Kroszner told a panel of lawmakers Wednesday. (Wed, 13 Jun 2007 18:45:10 GMT)

Royal Bank leads off another round of mortgage rate hikes
Mortgage rates are rising for the fourth time in four weeks as the cost of borrowed money increases. (Wed, 13 Jun 2007 18:45:56 GMT)

Mortgage rates rise again: posted five-year takes 0.15-point boost
TORONTO (CP) - Residential mortgage rates are moving upward again as bond-market yields bounce around five-year highs. The Royal Bank of Canada (TSX:RY) said Wednesday it is raising posted rates by between 0.05 and 0.20 percentage point, depending on the term. (Wed, 13 Jun 2007 18:54:52 GMT)

American Mortgage Declares Dividend
American Mortgage Acceptance Co. said Wednesday it declared a dividend of 22.5 cents per share for the second quarter of 2007. (Wed, 13 Jun 2007 19:29:12 GMT)

Suddenly 30-year fixed mortgages look good: report
Amid a steady stream of headlines about turmoil in the U.S. mortgage market propelled by rising defaults of subprime loans, home buyers and owners are fast turning to traditional, long-term mortgages for home financing needs, according to a report released on Wednesday. (Wed, 13 Jun 2007 19:54:53 GMT)

Are You Struggling With a Sub-prime Home Loan?
Tell Your Story to ABC News (Wed, 13 Jun 2007 20:41:51 GMT)

Former Mortgage Lenders Denied License
State Banking Commissioner Howard Pitkin on Wednesday refused to issue a license for a new home mortgage company formed by former executives of the defunct Mortgage Lenders Network. (Wed, 13 Jun 2007 21:03:05 GMT)

Highest mortgage defaults since 1998
Mortgage Insider: Report from DataQuick shows that there were 1,021 housing loan defaults in Orange County last month. (Wed, 13 Jun 2007 22:41:34 GMT)

Rising home loan interest rates could ward off potential buyers
Interest rates on 30-year home mortgages are at their highest level in the past 10 months, inching closer to the point that could keep buyers away from the market, experts said. (Wed, 13 Jun 2007 23:05:03 GMT)

Mortgage disclosures confusing for many consumers: study
CHICAGO (MarketWatch) -- Current mortgage disclosures fail to convey many of the loan's details to the consumer, according to a study released Wednesday by the Federal Trade Commission's Bureau of Economics. But with some revisions, borrowers could get a better understanding of what they're getting into when they commit to a mortgage, the study concluded. (Wed, 13 Jun 2007 23:52:38 GMT)

UPDATE: Mortgage Disclosures Confusing For Many Consumers: Study
CHICAGO (Dow Jones) -- Current mortgage disclosures fail to convey many of the loan's details to the consumer, according to a study released Wednesday by the Federal Trade Commission's Bureau of Economics. (Thu, 14 Jun 2007 00:46:52 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Thu, 14 Jun 2007 02:22:07 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. (Thu, 14 Jun 2007 02:25:05 GMT)

Lehman to Merge Two Residential Mortgage Units
The investment bank said BNC Mortgage will be combined with Aurora Loan Services into a single residential mortgage business, cutting 400 jobs. (Thu, 14 Jun 2007 03:41:55 GMT)

Nikko Principal Drops Plan for RAMS Mortgage Bid (Update2)
June 14 (Bloomberg) -- Nikko Principal Investment Australia, a unit of Japan's third-largest brokerage, dropped an offer for home lender RAMS Mortgage Corp., leaving Kohlberg Kravis Roberts & Co. as the only remaining bidder, two people with knowledge of the matter said. (Thu, 14 Jun 2007 03:55:44 GMT)

Nikko Principal Drops Plan for RAMS Mortgage Bid (Update2)
June 14 (Bloomberg) -- Nikko Principal Investment Australia, a unit of Japan's third-largest brokerage, dropped an offer for home lender RAMS Mortgage Corp., leaving Kohlberg Kravis Roberts & Co. as the only remaining bidder, two people with knowledge of the matter said. (Thu, 14 Jun 2007 04:22:30 GMT)

Bear Stearns to Sell Mortgage Assets in Hedge Fund, People Say
June 14 (Bloomberg) -- Bear Stearns Cos., the second-biggest U.S. underwriter of mortgage bonds, is liquidating holdings from one of its hedge funds after making money-losing bets on subprime home loans, three people familiar with the situation said. (Thu, 14 Jun 2007 06:14:47 GMT)

Countrywide Offers Refinance or Purchase Mortgage for Home Remodeling
Mortgage includes remodeling costs in the home purchase or refinance loan. (Thu, 14 Jun 2007 07:01:00 GMT)

Mortgage disclosures confusing for many consumers: study
Mortgage disclosures confusing for many consumers: study (Thu, 14 Jun 2007 07:11:48 GMT)

Countrywide Offers Refinance or Purchase Mortgage for Home Remodeling
Mortgage includes remodeling costs in the home purchase or refinance loan. (PRWeb Jun 14, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1DcmFzLVNpbmctQ291cC1UaGlyLVplcm8= (Thu, 14 Jun 2007 07:31:14 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Thu, 14 Jun 2007 08:09:42 GMT)

Home loan applications rise
Applications for home loans grew last week even though mortgage rates are rising, the Mortgage Bankers Association said Wednesday. Its weekly mortgage index, which measures the volume of applications for loans to buy or refinance homes, rose 6.6 percent. (Thu, 14 Jun 2007 09:16:52 GMT)

Mortgage applications on the rise, despite rates
Applications for home loans grew last week, even though mortgage rates are rising, an industry group said Wednesday. (Thu, 14 Jun 2007 09:22:10 GMT)

Subprime Crash Squeezes Out First-Time Home Buyers (Update2)
June 13 (Bloomberg) -- Josh Tullis, who in his eight years as a senior loan officer rarely felt compelled to reject a first-time home buyer's mortgage application, is sending people away empty- handed in 2007. (Thu, 14 Jun 2007 09:56:05 GMT)

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