Mortgage News Jun 2007

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How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 24 Jun 2007 13:55:08 GMT)

Kristof: How to refinance in a rough lending climate
Inflation fears have sent interest rates on home loans soaring and borrowers with adjustable-rate mortgages scurrying to refinance. The challenge is finding an affordable loan. Just as rates have risen, home prices have declined and credit standards have been tightened, making it difficult to get a reasonable rate, experts say. (Mon, 25 Jun 2007 06:03:54 GMT)

RateEmpire.com Offers Tips for Reducing Mortgage Refinance Rates
Refinancing your existing mortgages has many advantages like lowering the monthly payments or interest rates paid. (PRWeb Jun 25, 2007) (Mon, 25 Jun 2007 07:01:41 GMT)

'Trigger leads' are a borrower's bane
Terry Wyatt called his mortgage broker one morning about refinancing. Within hours he began getting calls from other brokers and lenders he never heard of. (Mon, 25 Jun 2007 07:52:23 GMT)

Industry's Best Kept Secret - Mortgage Network Inc. Embarks on Ambitious Expansion Plans
DANVERS, Mass.----Mortgage Network, Inc, the largest independent mortgage company headquartered in New England, today unveiled the reunion of the "original dynamic duo", Brian Koss, executive vice president, and Martha Harvey, Senior Loan Officer, providing a combined total of over 35 years of home buying and debt management expertise since 1989. (Mon, 25 Jun 2007 12:00:00 GMT)

Subprime mortgage worries drive stocks lower
NEW YORK (Reuters) - U.S. stocks closed lower on Monday as growing concerns about the subprime mortgage market dragged down shares of Bear Stearns Cos. and Goldman Sachs Group . (Mon, 25 Jun 2007 13:06:54 GMT)

Wall St cautious on mortgage-backed securities
US stocks were modestly firmer by mid-morning on Monday, but investors remained in a cautious mood, amid uncertainly over the possible exposure of US financial institutions to losses associated with mortgage-backed securities. (Mon, 25 Jun 2007 14:55:37 GMT)

Commercial Mortgage Lender American Financial Exchange Announces Launch of New Web Site for Home Loan Lending, ...
American Financial Exchange, a residential and commercial mortgage lender, announces the launch of its new Web site. With more than 50 years of experience, the experts at American Financial Exchange give invaluable service to help customers receive competitive rates on commercial lending, home loan lending, grant loans and more. (Mon, 25 Jun 2007 16:03:00 GMT)

Commercial Mortgage Lender American Financial Exchange Announces Launch of New Web Site for Home Loan Lending, ...
SOUTHFIELD, Mich.----Residential and commercial mortgage lender American Financial Exchange announces the launch of its web site, found online at www.afelending.com . American Financial Exchange offers residential and commercial loans, home loan lending, refinance loans, purchase loans, hard money loans, jumbo loans and more. (Mon, 25 Jun 2007 16:16:00 GMT)

Commercial Mortgage Lender American Financial Exchange Announces Launch of New Web Site for Home Loan Lending, ...
American Financial Exchange, a residential and commercial mortgage lender, announces the launch of its new Web site. With more than 50 years of experience, the experts at American Financial Exchange give invaluable service to help customers receive competitive rates on commercial lending, home loan lending, grant loans and more. (PRWeb Jun 25, 2007) Post Comment:Trackback URL: ... (Mon, 25 Jun 2007 16:16:05 GMT)

Borrowers Should Beware Home Equity Loans
A home equity loan can bring long-term trouble to borrowers. (Mon, 25 Jun 2007 17:15:52 GMT)

Subprime mortgage worries drive stocks lower
U.S. stocks closed lower on Monday as growing concerns about the subprime mortgage market dragged down shares of Bear Stearns Cos. and Goldman Sachs Group . (Mon, 25 Jun 2007 20:32:28 GMT)

Mortgage Brokers Balk at Regulatory Plan
A battle is brewing over a plan to create a national registry that would license mortgage brokers and suspend those found guilty of predatory tactics and other wrongdoing. (Mon, 25 Jun 2007 21:56:00 GMT)

HDFC provides monsoon relief, drops retail home loan rates
Retailers go all out to woo customers during the Mumbai monsoon season. But retail home loans, too, come a little cheaper this monsoon. One of the large housing finance companies, HDFC, has dropped rates by a quarter of a percentage point for a limited period as part of its monsoon offer. (Mon, 25 Jun 2007 22:26:09 GMT)

USDA builds on home ownership month with a new house here
USDA Rural Development Specialist Cynthia Alvarez presents the Colvins with a Certificate of Congratulations on the financing of their new home through the Direct Loan Program. (Mon, 25 Jun 2007 23:22:50 GMT)

USDA builds on home ownership month with a new house here
Pictured: USDA Rural Development Specialist Cynthia Alvarez presents the Colvins with a Certificate of Congratulations on the financing of their new home through the Direct Loan Program. Photo by MAURICIO JULIAN CUELLAR JR. (Mon, 25 Jun 2007 23:23:00 GMT)

Mortgage broker gets 43 years for murder of friend
A Portland mortgage broker who claimed he acted in self-defense last year when he shot and killed a friend was sentenced Monday to 43 years in prison. (Tue, 26 Jun 2007 00:45:42 GMT)

Erlanger Planning To Refinance Previous Bond Issues
Erlanger Medical Center – as part of its long-term facility and financing plans – wants to refinance old revenue bonds that carry comparative high interest rates and restrictive covenants, officials said Monday evening. (Tue, 26 Jun 2007 01:30:28 GMT)

ANZ may sell Origin mortgage business
ANZ Banking Group has received approaches from unidentified "third parties" to sell its wholesale mortgage distribution business Origin Mortgage Management Services. (Tue, 26 Jun 2007 04:56:00 GMT)

Countrywide Home Loans Shares Tips for Choosing a Mortgage
Tips to help consumers make informed home-buying decisions. (Tue, 26 Jun 2007 07:01:00 GMT)

Countrywide Home Loans Shares Tips for Choosing a Mortgage
Tips to help consumers make informed home-buying decisions. (PRWeb Jun 26, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/RW1wdC1IYWxmLUZhbHUtQ291cC1UaGlyLVplcm8= (Tue, 26 Jun 2007 07:16:19 GMT)

ANZ looks at options for Origin mortgage unit
SYDNEY, June 26 (Reuters) - Australia and New Zealand Banking Group Ltd. , said on Tuesday it was exploring "strategic options" for Origin Mortgage Management Services, seen as putting the unit on the block, as it focuses on its own branded home loan products. (Tue, 26 Jun 2007 08:49:00 GMT)

UPDATE 1-ANZ looks at options for Origin mortgage unit
SYDNEY, June 26 (Reuters) - Australia and New Zealand Banking Group Ltd. ANZ.AX, said on Tuesday it was exploring "strategic options" for Origin Mortgage Management Services, seen as putting the unit on the block, as it focuses on its own branded home loan products. (Tue, 26 Jun 2007 08:50:13 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. (Tue, 26 Jun 2007 09:11:39 GMT)

Offset home loan numbers 'surge'
The number of offset mortgages has rocketed in the past year, the Council of Mortgage Lenders (CML) says. (Tue, 26 Jun 2007 09:15:47 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, 26 Jun 2007 09:32:52 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." (Tue, 26 Jun 2007 09:58:21 GMT)

Ahead of the Bell: Mortgage Lending
Senators will scrutinize home lending practices Tuesday when they convene a hearing on how to protect consumers from mortgage abuses. (Tue, 26 Jun 2007 10:59:50 GMT)

NHB to set up mortgage guarantee firm
National Housing Bank (NHB), the principal agency refinancing housing finance companies, is planning to set up a mortgage guarantee corporation as a joint venture company with international partners to provide risk cover to lenders against defaults in housing loans. (Tue, 26 Jun 2007 11:02:40 GMT)

Major Asian Shares Fall On U.S Subprime Mortgage Concerns - Asian Commentary
(RTTNews) - Most of the Asian markets finished with losses on Tuesday, as U.S. shares fell consecutively for the second day on concerns about the subprime mortgage market. Chinese shares could manage to escape the downtrend, as bargain hunting supported the market. (Tue, 26 Jun 2007 11:48:24 GMT)

Fidelity National Title Group Announces New Program to Curb Mortgage Fraud
Fidelity National Title Group, a wholly-owned subsidiary of Fidelity National Financial, Inc. , a leading provider of title insurance, specialty insurance and claims management services, today announced a new product offering that will help its customers protect against mortgage fraud. (Tue, 26 Jun 2007 13:50:00 GMT)

Mortgage market pressures prompt ANZ to 'review' wholesaler
The competitive squeeze in the home loan market has led to ANZ effectively putting its stand-alone Origin wholesale mortgage business up for sale, which could prompt a bidding war among competitors. (Tue, 26 Jun 2007 14:11:26 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, 26 Jun 2007 14:39:59 GMT)

Sonnenblick-Eichner Company Arranges $49,000,000 of First Mortgage Financing for Three Hotels in the Pacific Northwest
Sonnenblick-Eichner Company announced today that it has arranged $49 million of first mortgage financing for three separately owned hotels located in the Pacific Northwest cities of Portland and Seaside, Oregon and Seattle, Washington. (Tue, 26 Jun 2007 14:44:58 GMT)

GE Money eyes 25 pc growth in home loans, open on acquisitions
GE Money, the consumer finance arm of the diversified global giant General Electric Co, will soon raise its profile in the Indian home loan industry, aiming to ride an increasingly sophisticated mortgage business with 25 to 30 per cent annual growth. It is also open to the idea of acquisitions. (Tue, 26 Jun 2007 14:53:30 GMT)

Fitch Rates WaMu Mortgage Pass-Thru Ctfs $2.83B Series 2007-HY7
NEW YORK----Fitch rates WaMu Mortgage pass-through certificates, series 2007-HY7, which closed June 25, 2007, as follows: (Tue, 26 Jun 2007 14:54:00 GMT)

NHB to set up mortgage guarantee firm
Kolkata, June 26 (IANS) National Housing Bank (NHB), the principal financial institution refinancing housing finance firms, plans to set up a mortgage guarantee corporation as a joint venture company with global partners to provide risk-cover to lenders against defaults in housing loans. (Tue, 26 Jun 2007 14:58:47 GMT)

First Horizon opens W-S mortgage office
First Horizon will open a new office in Winston-Salem to offer basic banking services as well as in-house mortgage processing and servicing, according to an announcement. (Tue, 26 Jun 2007 15:11:47 GMT)

Prudential Mortgage Capital Closes $20 Million Loan for Technology Plaza
CHAMPAIGN, Ill.----Prudential Mortgage Capital Company announced today that it has closed a $20 million refinancing loan on behalf of its general account, for Technology Plaza, a mixed-use facility in Champaign, Ill. (Tue, 26 Jun 2007 15:13:00 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. (Tue, 26 Jun 2007 15:52:27 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, 26 Jun 2007 15:52:48 GMT)

Mortgage Lender Recovery May Not Last
In the months since its subprime slump triggered a downturn in the broader markets, the mortgage lending industry has retraced lost ground at a steady clip. (Tue, 26 Jun 2007 16:44:07 GMT)

NHB to set up mortgage guarantee firm
National Housing Bank plans to set up a mortgage guarantee corporation as a joint venture company. (Tue, 26 Jun 2007 17:37:48 GMT)

First Active launches new mortgage deal
First Active has launched a new mortgage package to take advantage of the Government’s plan to axe stamp duty for first-time buyers. (Tue, 26 Jun 2007 18:23:36 GMT)

RAMS Mortgage to Raise A$695 Million in Share Sale, People Say
June 27 (Bloomberg) -- RAMS Mortgage Corp. plans to raise A$695 million ($590 million) in an initial public offering, after the Australian lender spurned a bid from Kohlberg Kravis Roberts & Co., two people with knowledge of the matter said. (Tue, 26 Jun 2007 19:22:20 GMT)

NHB to set up mortgage guarantee firm
National Housing Bank (NHB), the principal financial institution refinancing housing finance firms, plans to set up a mortgage guarantee corporation as a joint venture company with global partners to provide risk-cover to lenders against defaults in housing loans. (Tue, 26 Jun 2007 19:34:30 GMT)

Top 5 Reasons to Refinance
(ARA) - Thanks to the changes in the housing market and mortgage industry, you're probably hearing a lot right now about refinancing. There are likely as many reasons to refinance - initiating a new loan to pay off your existing mortgage - as there are people interested in it. (Tue, 26 Jun 2007 19:59:20 GMT)

MENA: Merrill Lynch says strong demographics and housing supply demand mortgage
Mortgage markets across the Middle East and North Africa (MENA), are poised for growth thanks primarily to a young, expanding population, wide availability of housing and more availability of housing finance, according to the Merrill Lynch Guide to Emerging Mortgage and Consumer Credit Markets, Volume 2: CEEMEA. (Tue, 26 Jun 2007 20:11:23 GMT)

Calvert Foundation Taking on Predatory Lenders and Mortgage Foreclosures: Five Affordable-Housing Nonprofits Across ...
Some investors worry about the damage being done to their communities by predatory lending and escalating mortgage foreclosures. (Tue, 26 Jun 2007 20:12:00 GMT)

Calvert Foundation Taking on Predatory Lenders and Mortgage Foreclosures: Five Affordable-Housing Nonprofits Across ...
Some investors worry about the damage being done to their communities by predatory lending and escalating mortgage foreclosures. But other individual and institutional investors concerned about these wealth-stripping crises are actually doing something about them under the auspices of the Calvert Foundation, which allows investors to target their dollars to support affordable-housing nonprofits ... (Tue, 26 Jun 2007 20:12:00 GMT)

RAMS Mortgage to Raise A$695 Million in Share Sale, People Say
June 27 (Bloomberg) -- RAMS Mortgage Corp. plans to raise A$695 million ($590 million) in an initial public offering, after the Australian lender spurned a bid from Kohlberg Kravis Roberts & Co., two people with knowledge of the matter said. (Tue, 26 Jun 2007 22:11:08 GMT)

Contractors urge making mortgage interest deductible
Making mortgage interest payments tax deductible would save families NIS 480 per month on average, a model presented yesterday by the Association of Contractors and Builders in Israel demonstrated. The estimated cost to the state would be NIS 610 million annually. (Tue, 26 Jun 2007 23:47:02 GMT)

Heartwell Mortgage to cease retail, wholesale operations Friday
Heartwell Mortgage, the longtime lender based in Grand Rapids, says it will close its retail and wholesale operations as of this Friday. In a statement issued (Wed, 27 Jun 2007 00:11:32 GMT)

Malaysia Hot Stocks-Market seen down on U.S. mortgage woes
KUALA LUMPUR, June 27 (Reuters) - Malaysian shares face a third day of selling on Wednesday, in line with weaker regional markets, as international investors worry about a crisis in the U.S. subprime mortgage market, dealers said. (Wed, 27 Jun 2007 00:28:10 GMT)

Travel the World on Your Mortgage! The American Mortgage & Real Estate Group Now Offers Customers a Chance to See the ...
GLENDALE, Calif.----Who knew your heavy mortgage could send you on a vacation? The American Mortgage & Real Estate Group offers customers air miles in return for every mortgage dollar refinanced with its EquityBuilder+ product. (Wed, 27 Jun 2007 00:44:00 GMT)

Travel the World on Your Mortgage! The American Mortgage & Real Estate Group Now Offers Customers a Chance to See the ...
Who knew your heavy mortgage could send you on a vacation? The American Mortgage & Real Estate Group offers customers air miles in return for every mortgage dollar refinanced with its EquityBuilder+ product. (PRWeb Jun 26, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1Ib3JyLUNyYXMtQ291cC1UaGlyLVplcm8= (Wed, 27 Jun 2007 01:15:35 GMT)

Official Pushes For Home-Loan Education
A top federal housing official says Congress should pay for more counseling for homebuyers to prevent them from getting trapped by new, exotic types of mortgages. (Wed, 27 Jun 2007 01:24:29 GMT)

Gloomy reports boost fears about housing, mortgage markets
The gloom over the housing and mortgage markets thickened today, snuffing out an early rally on Wall Street and hammering shares of builders and some lenders. (Wed, 27 Jun 2007 01:25:59 GMT)

Heartwell Mortgage goes out of business
Heartwell Mortgage, a decades-old, local company is going under, and dozens of employees are now out of work. (Wed, 27 Jun 2007 01:36:32 GMT)

Impac Mortgage Holdings, Inc. Announces It Will Not Be Declaring a Common Share Dividend Payment for Second Quarter
IRVINE, Calif., June 26 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings, ( Nachrichten ) Inc. , or the "Company," a Maryland corporation, being taxed as a real estate investment trust ("REIT"), announces that as a result of the Company's previously disclosed strategy to accelerate the liquidation of its real estate owned ("REO") portfolio through the new auction process implemented this ... (Wed, 27 Jun 2007 02:04:27 GMT)

Special Loan Helps Area Couple
A low-interest loan is helping an area couple move forward. Where Stang Farm and Home Supply used to sit in Osage is now where Larson's Hardware Hank is moving in. (Wed, 27 Jun 2007 02:28:17 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? (Wed, 27 Jun 2007 02:52:19 GMT)

Bear Stearns Enlists Mortgage Chief to Help Funds (Update2)
June 26 (Bloomberg) -- Bear Stearns Cos. enlisted Tom Marano, the head of its mortgage unit, to help unwind two money- losing funds, according to a person with knowledge of the decision. (Wed, 27 Jun 2007 03:11:33 GMT)

Home loans
Q. My husband is 66, retired/retrenched a year ago and I am 60 and still working. We had a mortgage of $200,000 on our property that is worth $500,000 and we put his super of $80,000 into our 100% offset home loan - all bills and mortgage repayments are taken from there and we are living on my pay. (Wed, 27 Jun 2007 03:29:27 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, 27 Jun 2007 03:52:08 GMT)

Americas Watchdog Endorses The James B Nutter & Company As The Best US Mortgage Firm to Get a FHA or VA Home Loan
If you are thinking about buying your first home, or refinancing an existing home with a FHA or VA mortgage, Americas Watchdog strongly encourages doing business with the James B Nutter & Company. (Wed, 27 Jun 2007 07:01:00 GMT)

Subprime mortgage borrowers need more protection, advocates say
Subprime mortgage borrowers need more protection, advocates say (Wed, 27 Jun 2007 07:06:39 GMT)

Americas Watchdog Endorses The James B Nutter & Company As The Best US Mortgage Firm to Get a FHA or VA Home Loan
If you are thinking about buying your first home, or refinancing an existing home with a FHA or VA mortgage, Americas Watchdog strongly encourages doing business with the James B Nutter & Company. Aside from being one of the most ethical mortgage lenders in the US, the James B Nutter & Company has built a solid reputation of unparalleled customer service and fair pricing. For many years FHA & VA ... (Wed, 27 Jun 2007 07:36:06 GMT)

World Bank loan to fund India's rural poverty fight
The World Bank said on Wednesday it had approved a $600 million loan for India to help it revamp thousands of ailing rural cooperative banks and fight village poverty through cheap loans. (Wed, 27 Jun 2007 08:29:49 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Wed, 27 Jun 2007 09:07:47 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, 27 Jun 2007 09:22:37 GMT)

Ahead of the Bell: Mortgage Applications
Banking industry data due out Wednesday will signal whether rising interest rates, slowing home sales and lower real estate prices continue to hurt mortgage lenders. (Wed, 27 Jun 2007 10:21:35 GMT)

Mortgage lending at 6-month high
LONDON (SHARECAST) - UK mortgage lending and approvals leapt to their highest levels in six months during May, according to a report from the British Bankers Association released Wednesday. (Wed, 27 Jun 2007 10:23:31 GMT)

Mortgage demand in the UK bounces back
Mortgage demand in the UK bounced back in May with the highest number of approved home loans of the year so far. Figures from the British Bankers’ Association show that 77,443 homebuyers took out a mortgage during the month, up from 64,815 in April. (Wed, 27 Jun 2007 10:38:29 GMT)

Mortgage approvals bounce back
UK banks saw demand for mortgages bounce back in May with the highest number of approved home loans of the year so far. Figures from the British Bankers' Association (BBA) show that 77,443 homebuyers took out a mortgage during the month, up from 64,815 in April - the largest monthly total since November last year. (Wed, 27 Jun 2007 10:44:58 GMT)

European shares fall, US mortgage worries hurt banks
LONDON, June 27 (Reuters) - European shares fell for a fourth consecutive session on Wednesday as banks and mining stocks bore the brunt of investor concern about the impact of the troubled U.S. mortgage market on the broader economy. (Wed, 27 Jun 2007 11:13:35 GMT)

U.S. MBA's Mortgage Applications Index Fell 3.9% Last Week
June 27 (Bloomberg) -- Mortgage applications in the U.S. fell to a four-month low last week, signaling higher mortgage rates may be taking a toll on home buying and refinancing. (Wed, 27 Jun 2007 11:14:47 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. (Wed, 27 Jun 2007 11:22:36 GMT)

Mortgage apps hit four-month low
Home loan demand drops for the second consecutive week with the index falling 3.9 percent, industry group says. (Wed, 27 Jun 2007 11:43:55 GMT)

Weekly volume of mortgage applications falls 3.9%
CHICAGO (MarketWatch) -- The volume of mortgage application volumes decreased a seasonally adjusted 3.9% last week compared to the prior week, according to the Mortgage Bankers Association's weekly survey released Wednesday. (Wed, 27 Jun 2007 11:46:44 GMT)

Mortgage demand drops to four-month low
Mortgage applications fell for a second straight week as interest rates remained near recent highs, an industry group said Wednesday. (Wed, 27 Jun 2007 12:18:04 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, 27 Jun 2007 13:40:30 GMT)

Home loan demand drops to 4-month low
NEW YORK (Reuters) - Mortgage applications fell for a second straight week as interest rates remained near recent highs, an industry group said on Wednesday. (Wed, 27 Jun 2007 15:21:37 GMT)

'Stage set for drop in home loan rates set'
Property prices are likely to soften and there are enough indications of that said Deepak Parekh, Chairman, Housing Development Finance Corporation (HDFC) at the company’s annual general meeting in Mumbai on Wednesday. (Wed, 27 Jun 2007 16:26:18 GMT)

Mortgage Applications Fall
Applications for U.S. home loans fell 3.9 percent last week as mortgage rates climbed, an industry group said Wednesday. (Wed, 27 Jun 2007 18:25:30 GMT)

SEC examines Bear Stearns hedge fund problems after mortgage investments go sour
Alan Zibel June 27, 2007 - 3:27 p.m. WASHINGTON (AP) - The U.S. Securities and Exchange Commission is examining the near-collapse of two Bear Stearns hedge funds that made bad bets on the mortgage market. (Wed, 27 Jun 2007 19:39:42 GMT)

US mortgage applications at four-month low
NEW YORK, June 27 (newratings.com) – US mortgage applications fell to a four-month low last week, according to data published by the Mortgage Bankers Association on Wednesday. (Wed, 27 Jun 2007 20:12:48 GMT)

Luminent Mortgage Capital Announces a Dividend Increase to $0.32 Per Share for the Second Quarter of 2007
SAN FRANCISCO, June 27 /PRNewswire/ -- The Board of Directors of Luminent Mortgage Capital, ( Nachrichten ) Inc. today declared a cash dividend for the second quarter of 2007 of $0.32 per share, payable on August 8, 2007 to stockholders of record on July 11, 2007. The second quarter 2007 dividend of $0.32 per share represents a 7% increase quarter-over-quarter and a 60% increase year-over-year. (Wed, 27 Jun 2007 20:35:32 GMT)

Prince seals £20m loan deal to save stately home for nation
The Prince of Wales has stepped in at the eleventh hour to save an important Scottish stately home for the nation. His intervention is being called one of the heritage “saves of the century”. (Wed, 27 Jun 2007 20:44:24 GMT)

Luminent Mortgage Raises Dividend
Luminent Mortgage Capital Inc., which invests in mortgage loans, said Wednesday its board voted to increase its quarterly dividend by 2 cents, or 6.7 percent, to 32 cents per share. (Wed, 27 Jun 2007 22:22:17 GMT)

Capital One Cutting 2,000 Jobs Amid Loan Losses (Update2)
June 27 (Bloomberg) -- Capital One Financial Corp., the largest independent U.S. credit card issuer, is cutting 2,000 jobs, or about 6 percent of its workforce, amid mounting loan losses and a slowdown in the mortgage industry. (Wed, 27 Jun 2007 23:44:57 GMT)

Subprime mortgage woes just beginning, fund manager warns
CHICAGO (MarketWatch) -- An end isn't anywhere in sight to the meltdown in subprime mortgage markets, the chief investment officer at Los Angeles-based TCW Group Inc. warned a gathering of investment professionals on Wednesday. (Thu, 28 Jun 2007 00:16:47 GMT)

Guilty plea in Shields mortgage fraud case
A key defendant in the Katheryn Shields mortgage fraud cases pleaded guilty Wednesday, opening the door to his cooperation with prosecutors at her trial this fall. (Thu, 28 Jun 2007 04:54:34 GMT)

Subprime mortgage woes just beginning, fund manager warns
Subprime mortgage woes just beginning, fund manager warns (Thu, 28 Jun 2007 07:21:51 GMT)

Spending eases as interest rate rises hit home
Signs that higher interest rates are taking a growing toll mounted yesterday with news of lacklustre high street trading this month and a slide in new home loan approvals. (Thu, 28 Jun 2007 08:16:33 GMT)

Mass., mortgage lenders meet on foreclosure crisis
The Patrick administration's top housing officials met with nine mortgage lenders in the first of a series of meetings seeking to remedy the state's foreclosure crisis. Kofi Jones, spokeswoman for the Executive Office of Housing and Economic Development, described the 90-minute meeting as a preliminary discussion of what the state and lenders can do to help "keep people in their ... (Thu, 28 Jun 2007 09:30:11 GMT)

Weekly mortgage analysis
Each Thursday, Bankrate publishes a survey of large lenders in the top 10 markets to get a national snapshot of where mortgage rates stand today. The exclusive look at rates plus expert analysis makes this one of Bankrate's most-popular stories. (Thu, 28 Jun 2007 10:00:00 GMT)

Caliber to return cash after subprime mortgage hit
Investment company Caliber Global Investment Limited is to return all its capital to investors after suffering an $8.8 million (4.39 million pounds) net loss in the first three months of the year due to the turmoil in the U.S. subprime mortgage market. (Thu, 28 Jun 2007 10:40:00 GMT)

Caliber to return cash after subprime mortgage hit
Investment company Caliber Global Investment Limited is to return all its capital to investors after suffering an $8.8 million (4.39 million pounds) net loss in the first three months of the year due to the turmoil in the U.S. subprime mortgage market. (Thu, 28 Jun 2007 10:40:53 GMT)

SBI to tweak home loan EMIs, NPAs may rise
State Bank of India today said that equated monthly instalments (EMIs) on its home loans will be tweaked shortly as interest rates have gone up by 2% in the last one year. (Thu, 28 Jun 2007 10:47:40 GMT)

Bankrate: Mortgage Rates Down for Second Straight Week
NEW YORK, June 28 /PRNewswire-FirstCall/ -- After jumping sharply between mid-May and mid-June, mortgage rates have now declined in each of the past two weeks. The average 30-year fixed mortgage rate retreated to 6.74 percent. (Thu, 28 Jun 2007 11:35:37 GMT)

Mortgage rates fall for 2nd straight week
The good news is mortgage rates fell for the second week in a row. The bad news is they're still almost half a percentage point higher than they were three months ago. (Thu, 28 Jun 2007 11:47:27 GMT)

$3.5B Loan Approved for Idaho Nuke Plant
A small New York lender that says it will loan $3.5 billion to a nuclear power plant project in Idaho specializes in loans to bed and breakfasts, mini-warehouses, bars and gas stations, making it an unconventional candidate to help pay for a new commercial reactor. (Thu, 28 Jun 2007 12:37:50 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, 28 Jun 2007 13:41:42 GMT)

Mortgage rates dip
Associated Press - June 28, 2007 11:03 AM ET McLEAN, Va. (AP) - Long-term mortgage rates are lower for a second straight week. Freddie Mac says the average for the 30-year fixed-rate... (Thu, 28 Jun 2007 15:11:02 GMT)

Mortgage rates back off again
Mortgage rates eased slightly for the second week in a row after taking their biggest jump in four years two weeks ago, Freddie Mac said Thursday. (Thu, 28 Jun 2007 15:13:55 GMT)

U.S. mortgage rates down for second week
CHICAGO (MarketWatch) -- Mortgage rates dropped again, continuing their turnaround from the upward climb that began in the first half of May, according to Freddie Mac's weekly survey released on Wednesday. (Thu, 28 Jun 2007 15:46:27 GMT)

Carlyle Cuts Mortgage Fund IPO After Subprime Slump (Update3)
June 28 (Bloomberg) -- Carlyle Group, the private-equity firm that oversees $59 billion of investments, cut the initial public offering of a mortgage bond fund as the fallout spreads from a slump in U.S. real estate. (Thu, 28 Jun 2007 15:59:57 GMT)

Beazer fires accounting exec amid mortgage probe
Atlanta-based Beazer Homes USA said it fired its chief accounting officer, Michael T. Rand, for attempting to destroy documents. The homebuilder, facing federal probes into its mortgage practices, disclosed the move in a filing with the Securities and Exchange Commission. Beazer said it "recently became aware of Mr. Rand's actions" during an internal investigation of the company's mortgage ... (Thu, 28 Jun 2007 16:16:00 GMT)

Federal Home Loan Bank of Atlanta Declares Second Quarter Dividend
The board of directors of Federal Home Loan Bank of Atlanta has approved an annualized dividend rate for the second quarter of 6.0 percent, applicable to capital stock held during the period from April 1, 2007, to June 30, 2007. (Thu, 28 Jun 2007 16:34:00 GMT)

Mortgage crisis forces Carlyle to cut float price
The American mortgage crisis wreaked further damage on the private equity industry yesterday as Carlyle Group, the US buyout firm, was forced to cut the price of its mortgage fund and the amount it will raise by $100 million. (Thu, 28 Jun 2007 17:46:32 GMT)

Erie Zoo's sloth back at home; not that it cares
ERIE, Pa. (AP) - The Erie Zoo's two-toed sloth is back home -- not that it really cares. Zoo officials say they're thrilled that Joy, an 11-year-old sloth, has returned after being on loan for three years to the Minnesota Zoo in suburban Minneapolis. (Thu, 28 Jun 2007 17:57:10 GMT)

Mortgage rates dip
McLEAN, Va. (AP) - Long-term mortgage rates are lower for a second straight week. Freddie Mac says the average for the 30-year fixed-rate mortgage dipped to 6.67% from 6.69% the week before. A year ago it averaged 6.78%. (Thu, 28 Jun 2007 18:25:36 GMT)

Subprime mortgage shakeout claims another fund
SAN FRANCISCO (MarketWatch) -- Caliber Global Investment Ltd., a London-listed fund that controlled almost $1 billion of mortgage assets, said on Thursday that it's shutting down after turmoil in the subprime market cut demand for its shares. (Thu, 28 Jun 2007 18:31:27 GMT)

SBI to increase home loan EMIs
The move may result in higher bad loans. State Bank of India (SBI) has decided to increase the equated monthly instalments (EMIs) on floating rate home loans for the first time after it raised interest rates over the past one year. (Thu, 28 Jun 2007 18:34:47 GMT)

U.S. mortgage ratings down second week
U.S. mortgage ratings have fallen for a second consecutive week, Freddie Mac, the government-backed mortgage agency, reported Thursday. (Thu, 28 Jun 2007 18:42:10 GMT)

Mortgage rates dip
McLEAN, Va. (AP) - Long-term mortgage rates are lower for a second straight week. Freddie Mac says the average for the 30-year fixed-rate mortgage dipped to 6.67% from 6.69% the week before. A year ago it averaged 6.78%. (Thu, 28 Jun 2007 20:24:48 GMT)

UPDATE: Weekly Volume Of Mortgage Applications Falls 3.9%
CHICAGO (Dow Jones) -- The volume of mortgage applications filed last week decreased a seasonally adjusted 3.9% compared to the prior week, according to the Mortgage Bankers Association's weekly survey released Wednesday. (Thu, 28 Jun 2007 20:32:25 GMT)

PSU banks go slow on home loan
NEW DELHI: With private and foreign banks putting brakes on the home loan disbursal following the interest rate hikes, public sector banks have also decided to give loans to only select high-quality borrowers. (Thu, 28 Jun 2007 20:40:50 GMT)

Fitch Rates RALI Mortgage Asset-Backed P-T Ctfs 2007-QS8
NEW YORK----Fitch rates Residential Accredit Loans, Inc. mortgage pass-through certificates, series 2007-QS8, as follows: $607,762,940 classes A-1 through A-17, A-P, A-V, R-I, R-II, and P certificates 'AAA'; $21,507,900 class M-1 'AA'; $7,495,200 class M-2 'A'; $5,540,000 class M-3 'BBB'. (Thu, 28 Jun 2007 20:53:00 GMT)

SBI expects rise in home loan defaults due to higher EMIs
Mr O.P. Bhatt , Chairman, SBI, addressing a press conference in Mumbai on Thursday.— Paul Noronha Mumbai, June 28 State Bank of India expects a marginal rise in default in home loans due to increase in equated monthly instalments (EMIs), Mr O.P. Bhatt, Chairman, hinted today. (Thu, 28 Jun 2007 21:06:11 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for Second Quarter 2007
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco's Board of Directors has declared a dividend for the second quarter of 2007, to be determined in accordance with the Bank's Retained Earnings and Dividend Policy. (Thu, 28 Jun 2007 21:21:00 GMT)

American sub-prime mortgage ills infect UK markets
Cambridge Place, the London fund manager, was forced to close its $908 million (£450 million) listed fund yesterday as contagion from the embattled US sub-prime mortgage market continued to spread to the UK. (Thu, 28 Jun 2007 22:31:42 GMT)

Not-For-Profit Credit Unions Say Better Lending, Borrowing Decisions Can Stifle the State's Boom in Home Foreclosures
As the number of foreclosures continue to rise at alarming rates, Wisconsin credit unions hope that this trend makes prospective homeowners think twice before closing on a home loan. (Thu, 28 Jun 2007 22:49:00 GMT)

American Home Mortgage sees second-quarter loss
SAN FRANCISCO (MarketWatch) -- American Home Mortgage Investment Corp. forecast a second-quarter loss late Thursday because of rising delinquencies on some of its mortgages. (Thu, 28 Jun 2007 23:16:39 GMT)

Caliber becomes latest victim of US sub-prime mortgage market
Aftershocks from the collapse of the sub-prime mortgage market in the US continued to be felt across the world yesterday, as a UK-listed investment fund promised to shut its doors and a major private equity house was forced to scale back plans for a fundraising. (Thu, 28 Jun 2007 23:56:26 GMT)

Good Reasons to Refinance Now
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Fri, 29 Jun 2007 00:37:56 GMT)

Warning on home loan comparison rates
Consumers should be wary of comparison rates on home loan products, an analyst says. (Fri, 29 Jun 2007 03:55:11 GMT)

Rex Agreement: New tap on equity
Homeowners who want to tap into their house’s equity typically face three choices: sell and move to a less expensive place, take out a home-equity loan, or refinance the mortgage and pull cash out. For older owners, reverse mortgages are another option. (Fri, 29 Jun 2007 04:38:24 GMT)

S&P, Moody's Hide Rising Risk on $200 Billion of Mortgage Bonds
June 29 (Bloomberg) -- Standard & Poor's, Moody's Investors Service and Fitch Ratings are masking burgeoning losses in the market for subprime mortgage bonds by failing to cut the credit ratings on about $200 billion of securities backed by home loans. (Fri, 29 Jun 2007 04:45:07 GMT)

Man indicted in home-loan fraud case
A federal grand jury on Tuesday indicted a Chesterfield County man on bank-fraud charges alleging he took more than $1 million by obtaining multiple equity loans on his residence. Anthony T. Harrelson, 29, of Midlothian applied for home-equity loans last year from eight banks, using equity in his home in the 6600 block of Southshore Drive as collateral, according to a criminal information filed ... (Fri, 29 Jun 2007 04:49:09 GMT)

Stursberg & Fine Closes $32 Million Loan Transaction
Despite a tight market, Stursberg & Fine finalizes a $32 million loan transaction on a 10 year fixed term, 5 years interest only, and 30 year amortization for a mobile home park. (Fri, 29 Jun 2007 07:01:00 GMT)

Stursberg & Fine Closes $32 Million Loan Transaction
Despite a tight market, Stursberg & Fine finalizes a $32 million loan transaction on a 10 year fixed term, 5 years interest only, and 30 year amortization for a mobile home park. (PRWeb Jun 29, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U2luZy1FbXB0LVByb2YtQ291cC1UaGlyLVplcm8= (Fri, 29 Jun 2007 07:17:06 GMT)

For second week, mortgage rates decline
WASHINGTON - Rates on 30-year mortgages dipped slightly this week, the second decline after five weeks of increases. The mortgage company Freddie Mac reported yesterday that 30-year, fixed-rate mortgages averaged 6.67 percent this week, compared with 6.69 percent last week. (Fri, 29 Jun 2007 07:23:25 GMT)

Mortgage rates down again
WASHINGTON -- Rates on 30-year mortgages dipped slightly this week, the second decline after five weeks of increases. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.67 percent this week, compared with 6.69 percent last week. (Fri, 29 Jun 2007 07:28:13 GMT)

12 more accused of mortgage fraud
It was a mortgage scheme that cost homeowners more than $2 million. (Fri, 29 Jun 2007 07:31:53 GMT)

Indymacs Response to TheStreet.coms 'Two Ways to Play a Mortgage Lender'
Grove Nichols submits: TheStreet.coms Two Ways to Play Mortgage Lenders once again points out the difficult environment that all mortgage bankers are operating in at the present time. (Fri, 29 Jun 2007 08:27:16 GMT)

Mortgage approvals climb in May
The number of mortgage loans approved but not yet made rose slightly in May, the Bank of England (BoE) says. (Fri, 29 Jun 2007 09:17:14 GMT)

Mortgage approvals up but lending slows in May
Mortgage approvals rose in May for the first time since January but lending secured on dwellings slowed unexpectedly, notching its smallest increase in more than a year, official data showed on Friday. (Fri, 29 Jun 2007 09:29:00 GMT)

Using inheritance to pay off mortgage
At your age, getting the mortgage paid off is a good idea, says Dr. Don. (Fri, 29 Jun 2007 10:00:00 GMT)

30-year mortgage rates fall for second straight week
WASHINGTON -- Rates on 30-year mortgages dipped slightly this week, the second decline after five weeks of increases. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6. (Fri, 29 Jun 2007 10:44:07 GMT)

Mortgage approvals turn higher
LONDON (SHARECAST) - The number of UK mortgage approvals improved last month for the first time since January, although official figures showed lending slowing down markedly. (Fri, 29 Jun 2007 11:23:40 GMT)

Banks see opportunity in reverse mortgage
MUMBAI (Reuters) - Rising life expectancy and a vast army of the aged without a pension scheme in a booming economy has opened a window for reverse mortgage in India. (Fri, 29 Jun 2007 11:25:23 GMT)

Stocks Fall Sharply on Subprime Mortgage Problems
Stocks fell sharply on Friday on subprime mortgage problems, in spite of good news on inflation, economy. (Fri, 29 Jun 2007 14:08:17 GMT)

UPDATE: New Subprime Mortgage Rules From Regulators
WASHINGTON (Dow Jones) -- Federal financial regulators issued new rules Friday for subprime mortgage lending to address adjustable-rate mortgage products that can cause payment shock. (Fri, 29 Jun 2007 14:48:14 GMT)

Regulators Set New Subprime Mortgage Standards
Bank regulators set new standards for subprime mortgage lending Friday. (Fri, 29 Jun 2007 15:08:27 GMT)

Bank Regulators Finalize Mortgage Rules
WASHINGTON -- Banking regulators on Friday completed guidelines that call on lenders to strictly evaluate borrowers' ability to repay home loans. (Fri, 29 Jun 2007 16:00:27 GMT)

WaMu Response from David Schneider, President, Home Loans, Regarding Interagency Statement on Subprime Mortgage Lending
SEATTLE----WaMu fully supports the guidance and the goal of ensuring that mortgage loans are underwritten in a prudent fashion and communicated in an understandable way. No party wins when a lender is forced to foreclose on a borrower. (Fri, 29 Jun 2007 17:44:00 GMT)

Regulators tighten subprime lending rules
WASHINGTON (Reuters) - Bank regulators tightened standards for mortgage lending on Friday in a bid to curtail risky practices that have been blamed for a record level of foreclosures. (Fri, 29 Jun 2007 18:10:33 GMT)

Lauderhill man sentenced in $10 million mortgage scheme
MIAMI A Lauderhill man was sentenced to 10 years in prison Friday for what federal authorities called a $10 million scheme to defraud mortgage lenders. (Fri, 29 Jun 2007 18:26:14 GMT)

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