Mortgage News Jul 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? (Thu, 05 Jul 2007 12:56:05 GMT)

H&R Block falls as mortgage unit loses credit line
Tax preparer H&R Block Inc. said the subprime mortgage unit it is selling has lost a credit line, lowering its borrowing capacity closer to the minimum needed for the sale to go through. (Thu, 05 Jul 2007 14:58:30 GMT)

Bankrate: No Fireworks in Mortgage Rates This Week
NEW YORK, July 5 /PRNewswire-FirstCall/ -- Mortgage rates remained calm, with the average 30-year fixed mortgage rate holding at 6. (Thu, 05 Jul 2007 15:11:14 GMT)

Mortgage rates fall for 3rd straight week
Mortgage rates eased slightly for the third week in a row, Freddie Mac said Thursday. (Thu, 05 Jul 2007 15:14:05 GMT)

Long-term U.S. mortgage rates slip again
CHICAGO (MarketWatch) -- Long-term mortgage rates declined for the third consecutive week, in part reflecting a moderation in core inflation, Freddie Mac's chief economist said on Thursday. (Thu, 05 Jul 2007 15:16:27 GMT)

American Mortgage Raises Loan Limit
American Mortgage Acceptance Co., which provides mortgages and other loans to real estate developers, has increased the borrowing limit under one of its loan agreements to $80 million from $50 million. (Thu, 05 Jul 2007 15:40:34 GMT)

30-year mortgage rates drop
WASHINGTON Rates on 30-year mortgages sank this week to a one-month low, while rates on most other mortgages also fell, good news to prospective home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.63 percent. That was down from last week's 6.67 percent rate and was the lowest since early June, when rates stood at 6.53 percent. The ... (Thu, 05 Jul 2007 15:45:06 GMT)

Mortgage demand steady, might get a kick from falling rates
Rising demand for loans to buy homes offset a drop in applications to refinance existing mortgages, leaving mortgage applications little changed from the prior week, an industry group said Thursday. (Thu, 05 Jul 2007 15:46:36 GMT)

30-Year Mortgage Rates Dip
30-year mortgage rates dipped this week to one-month low. (Thu, 05 Jul 2007 16:52:57 GMT)

Mortgage Lending's Benevolent Bureaucracy
As defaults surge, the stodgy Federal Housing Administration proves its worth. (Thu, 05 Jul 2007 16:54:22 GMT)

Mortgage Applications Rise
Applications for U.S. home loans rose slightly last week, an industry group said Thursday. The Mortgage Bankers Association said its weekly mortgage index, which measures the volume of applications for loans to buy or refinance homes, rose 0.1 percent on a seasonally adjusted basis. (Thu, 05 Jul 2007 17:05:39 GMT)

Retail housing loan market to grow 15% as demand returns
The retail housing loan market is expected to grow 15% this year, according to Kitti Patpongpibul, president of the Housing Finance Association. (Thu, 05 Jul 2007 18:55:50 GMT)

H&R Block Mortgage Unit Loses $1.5 Billion Loan Line (Update2)
July 5 (Bloomberg) -- H&R Block Inc.'s mortgage unit lost a $1.5 billion credit line, falling ``dangerously close'' to the minimum needed to satisfy terms of an agreement to sell the money-losing business. (Thu, 05 Jul 2007 19:14:57 GMT)

Bad Loans Putting Us Deeper in Debt
The loan crisis in America keeps getting worse. Here in the D.C. area, home foreclosures are spreading to wealthy neighborhoods, as The Washington Post's Kirstin Downey reported in "Area Suburbs See Rise in Foreclosures," (June 30). (Thu, 05 Jul 2007 20:07:17 GMT)

Mortgage Lending's Benevolent Bureaucracy
As defaults surge, the stodgy Federal Housing Administration proves its worth. (Thu, 05 Jul 2007 20:48:38 GMT)

H&R Block Mortgage Unit Loses $1.5 Billion Loan Line (Update4)
July 5 (Bloomberg) -- H&R Block Inc.'s mortgage unit lost a $1.5 billion credit line, falling ``dangerously close'' to the minimum amount demanded by a hedge fund firm that has agreed to buy the money-losing home lender. (Thu, 05 Jul 2007 21:25:45 GMT)

MORTGAGES: Long-term U.S. Mortgage Rates Slip Again
CHICAGO (Dow Jones) -- Long-term mortgage rates declined for the third consecutive week, in part reflecting a moderation in core inflation, Freddie Mac's chief economist said on Thursday. (Fri, 06 Jul 2007 01:16:42 GMT)

Credit line expires for H&R Block’s Option One mortgage lender
“This leaves Option One skirting dangerously close to the line. The company has little margin for error.” Kathleen Shanley, analyst at Gimme Credit H&R Block’s mortgage unit lost a $1.5 billion credit line from Lehman Brothers Holdings Inc. , cutting the division’s borrowing capacity closer to the minimum demanded by its potential buyer. (Fri, 06 Jul 2007 03:21:15 GMT)

More Mortgage Unit Woes for Block
Kansas City, Mo. (July 6, 2007) - Option One Mortgage, the beleaguered subprime lending unit of tax-prep giant H&R Block, has mired its parent company deeper into financial malaise, losing a $1 billion warehouse credit line from Lehman Bros. Holdings. (Fri, 06 Jul 2007 04:13:43 GMT)

Home loans franchise best in NZ
A MASTERTON loan franchise has been recognised in New Zealand Home Loans first awards ceremony held last week in Bay of Plenty. (Fri, 06 Jul 2007 05:32:01 GMT)

Lenders: Mortgage proposals fall short
Lenders and investors are concerned over legislation taking aim at the mortgage industry in response to the subprime loan crisis. A package of bills under discussion would require mortgage solicitors to be licensed, and lenders to better ensure that a mortgage applicant can afford the loan. (Fri, 06 Jul 2007 05:43:26 GMT)

Silent culprit in mortgage mess: Wall St.
Longtime Boulder mortgage banker Lou Barnes remembers what happened as Wall Street investment bankers moved en masse into the mortgage industry. (Fri, 06 Jul 2007 07:18:21 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 06 Jul 2007 08:13:27 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, 06 Jul 2007 08:13:47 GMT)

Swiss banking giant UBS replaces chief after US mortgage woes
Swiss banking giant UBS on Friday announced the surprise resignation of its chief executive Peter Wuffli following a turbulent period for the bank marked by difficulties in the US mortgage market. (Fri, 06 Jul 2007 08:45:12 GMT)

Easley approves mortgage oversight
Gov. Mike Easley has signed into law two bills increasing state oversight of a mortgage industry whose recent excesses are resulting in record numbers of foreclosures. The laws, signed Wednesday and Thursday, require the creation of a public record listing the person who originates each mortgage loan, and define a new crime: mortgage fraud. The combination is widely seen as an important but ... (Fri, 06 Jul 2007 09:51:31 GMT)

Don't co-sign for son's mortgage
That's a very risky mortgage you son wants to get, says Dr. Don. (Fri, 06 Jul 2007 10:00:00 GMT)

H&R Block mortgage unit loses $1.5 billion loan line
Option One 'dangerously close' to minimum required for sale to go through. H&R Block 's mortgage unit lost a $1.5 billion credit line, falling "dangerously close" to the minimum needed to satisfy terms of an agreement to sell the money-losing business. (Fri, 06 Jul 2007 10:14:49 GMT)

ICICI slashes home loan rates by 0.25 per cent
The rate cut is a correction and it is unlikely that other banks will follow suit. (Fri, 06 Jul 2007 11:04:23 GMT)

Mortgage and savings rates rise
Mortgage and savings rates start to go up in the wake of the Bank of England's latest increase in the cost of borrowing. (Fri, 06 Jul 2007 12:04:53 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 06 Jul 2007 12:26:18 GMT)

ICICI slashes home loan rates by 0.25 per cent
A slight breather has come for those seeking to apply for a home loan. ICICI Bank has cut its floating home loan rates by 0.5 percent. On loans for upto Rs 20 lakh the rates have been slashed by 0.25 percent. However, the rate cut is a correction and it is unlikely that other banks will follow suit. (Fri, 06 Jul 2007 13:25:27 GMT)

Federal Home Loan Bank of Indianapolis Names Milton J. Miller President and CEO
INDIANAPOLIS, July 6, 2007 -- The Board of Directors of the Federal Home Loan Bank of Indianapolis announced today that it has named former FHLBI Senior Vice President and Chief Financial Officer Milton J. (Fri, 06 Jul 2007 13:30:00 GMT)

ICICI Bank lowers floating home loan rate by 0.50%
ICICI Bank has reduced floating interest rate on new home loans of up to Rs 20 lakh by 0.50%. (Fri, 06 Jul 2007 14:51:26 GMT)

Lenders put up mortgage costs
Mortgage lenders have begun putting up the cost of borrowing in response to the latest move by the Bank of England on interest rates. Among the first off the blocks was Cheltenham & Gloucester, Lloyds TSB's mortgage arm, which announced a quarter-point rise in its standard variable rate to 7.75%. (Fri, 06 Jul 2007 15:14:23 GMT)

Grove Street home gets a new groove
After nearly two years of waiting, one Vicksburg resident will be able to move back into her home after it sustained damage from Hurricane Katrina. Birdie Spencer, 810 Grove St., applied for a loan from the U.S. Department of Agriculture's Rural Development to fix up the outside of her house. (Fri, 06 Jul 2007 17:36:30 GMT)

Should you refinance? Run the numbers
Question: We took out a home equity line of credit a couple years ago and thought we were getting a great deal with an interest rate set to the prime rate. At that time, it was only 4 percent, so the money was very cheap. (Fri, 06 Jul 2007 18:50:31 GMT)

ICICI cuts rate on sub-20 lakh home loans
The country’s largest home loan provider, ICICI Bank, has reduced interest rates on floating rate home loans below Rs 20 lakh by 50 basis points for new customers. (Fri, 06 Jul 2007 19:03:20 GMT)

The Hyperion(R) Strategic Mortgage Income Fund, Inc. Dividend Declaration
The Board of Directors of the Hyperion Strategic Mortgage Income Fund, Inc. (the "Fund") (NYSE: HSM) declared a monthly dividend of $0.090 per share, payable on July 26, 2007 to shareholders of record on July 17, 2007. The ex-dividend date is July 13, 2007. Based on the NYSE closing price of $12.49 on July 5, 2007, the Fund's yield was 8.65%. Based on the net asset value per share of $13.12 on ... (Fri, 06 Jul 2007 21:42:36 GMT)

ICICI snips sub-20 lakh home loan rates 0.5%
ICICI Bank recently reduced interest rates on home loans by 50 basis points. (Fri, 06 Jul 2007 23:36:13 GMT)

'Eye-watering' fees for new mortgage deals
Banks have been attacked for landing their mortgage customers with "eye-watering" fees, just a day after borrowing costs were increased by the Bank of England. (Sat, 07 Jul 2007 00:23:01 GMT)

Briny backer finds himself in middle of mortgage mess
John Devaney, the deep-pocketed, high-flying trader who's lead financier for the $510 million purchase of Briny Breezes, is facing a financial squeeze after a series of bad bets on the subprime mortgage market. (Sat, 07 Jul 2007 04:10:08 GMT)

Briny backer finds himself in middle of mortgage mess
John Devaney, the deep-pocketed, high-flying trader who's lead financier for the $510 million purchase of Briny Breezes, is facing a financial squeeze after a series of bad bets on the subprime mortgage market. (Sat, 07 Jul 2007 04:26:10 GMT)

Handling Home Titles and Divorce
DEAR BOB: I divorced more than 25 years ago. My ex-husband and I held title to our home together. Because he didn't show up in court, the judge ordered my husband to quitclaim our property to me. But he never signed the quitclaim deed. My attorney said it wasn't necessary because of the judge's ruling in the divorce decree. My adult daughter is concerned that after my death, my ex-husband could ... (Sat, 07 Jul 2007 05:03:48 GMT)

When Foreclosure Threatens, Beware the Bird Dogs
Mortgage foreclosures are up -- and so are the scams. (Sat, 07 Jul 2007 05:03:58 GMT)

New Loan Eliminates 'Junk Fees' but May Not Save You Money
There is much to admire in Bank of America's new "no-fee mortgage plus" program for home buyers, but there also are some shortcomings. (Sat, 07 Jul 2007 05:04:08 GMT)

American Equity Mortgage closes seven offices
The slowdown in the housing market is prompting American Equity Mortgage Co. to close offices in seven markets, Deanna Daughhetee, president and chief executive, said Friday. (Sat, 07 Jul 2007 05:24:29 GMT)

The pros and cons of refinancing – be careful of predatory lenders and at the same time work on lower rates and shorter ...
Every time you refinance, someone makes big bucks. The mortgage bankers, brokers, appraisers, Title insurance companies and in some cases attorneys make a lot of money when you refinance your mortgage. (Sat, 07 Jul 2007 06:14:32 GMT)

Refinancing beats reverse mortgage option
If you're a senior citizen, own a home and need money, should you get a reverse mortgage or refinance instead? In general, a reverse mortgage... (Sat, 07 Jul 2007 07:09:18 GMT)

Broker inquiry could loosen deluge of calls from lenders
Terry Wyatt called his mortgage broker one day about refinancing and within hours began getting calls from other brokers and lenders. (Sat, 07 Jul 2007 07:09:58 GMT)

Expert says public lacks mortgage finance awareness
The mortgage industry in Tanzania is growing at a snail`s pace because of lack of sufficient public education about its potential benefits, a banking expert has said. (Sat, 07 Jul 2007 07:21:11 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? (Sat, 07 Jul 2007 08:13:07 GMT)

ICICI snips home loan rates 0.5%
It sees the dip in disbursements following a decision to raise interest rates above what was offered in mkt. (Sat, 07 Jul 2007 08:21:17 GMT)

Suzuki, Rick - Mori & Associates – Torrance Nationwide Mortgage Rates - Insurance - Loans and Credit
Ameriquest Mortgage - Originator of refinance and home purchase loans nationwide. Features forms, calculators, success stories. rates, overview of the loan process. (Sat, 07 Jul 2007 09:46:02 GMT)

More questions than answers over home loans offered at six percent
More questions are being asked than answered about a little-known company that launched a home loan product this week offering a fixed interest rate of six percent on a 20-year bond. (Sat, 07 Jul 2007 11:07:50 GMT)

Grove Street home gets a new groove
After nearly two years of waiting, one Vicksburg resident will be able to move back into her home after it sustained damage from Hurricane Katrina. Birdie Spencer, 810 Grove St., applied for a loan from the U.S. Department of Agriculture's Rural Development to fix up the outside of her house. (Sat, 07 Jul 2007 14:21:30 GMT)

ICICI cuts loan rates by 0.5%
Mumbai July 7: The country's largest home loan provider, ICICI Bank, has reduced interest rates on floating rate home loans below Rs 20 lakh by 50 basis points for new customers. The effective rate of interest will be 11.50% against 12% on loans of Rs 20 lakh and above. (Sat, 07 Jul 2007 17:32:26 GMT)

Livingston Joins Pathfinder Bank As Mortgage Originator
OSWEGO, NY - Sherrie Livingston has joined Pathfinder Bank as a mortgage originator, according to Rhonda Hutchins, bank vice president/retail lending. (Sat, 07 Jul 2007 19:49:52 GMT)

Mortgage 'burden' worse than Labor peak
An unprecedented issuing of previously secret documents suggests the Treasury believes households face a higher mortgage repayment burden than they did when interest rates peaked under the Labor government in the late 1980s. (Sat, 07 Jul 2007 19:55:28 GMT)

Mortgage vultures swoop on US housing crisis
Repossessions soar by 35 per cent as "mortgage rescue" scams target troubled borrowers. (Sat, 07 Jul 2007 23:48:05 GMT)

Subprime mortgage saga: Home gone, inheritance lost
Shannon Dennis was losing her inheritance, her dream job and her home. All she wanted was to tell her story to state regulators, hoping to recover a little of what she lost since she unwittingly took out a "stated-income" loan to buy a home two years ago. (Sun, 08 Jul 2007 04:11:21 GMT)

Should you pay mortgage biweekly or monthly?
I wondered: Could this be possible? The direct-mail solicitation claimed that we could shave years off the life of our 30-year mortgage and save thousands of dollars in interest by making half our mortgage payment every two weeks instead paying once a month. Of course, there was a fee. But the theory is simple math, really. Paying half your mortgage payment biweekly instead of monthly means ... (Sun, 08 Jul 2007 06:08:07 GMT)

New Jersey Mortgage Bank Joins Nationwide Association for Responsible Lending
Determined to show integrity, ethics and professionalism still exists in the mortgage business today, one lender is on a quest to prove they value the client more than the commission. Approved Funding Corp., a 20-yr-old Mortgage Bank, has recently joined the National Association of Responsible Loan Officers to ensure responsible lending practices, and to assist homeowners and homebuyers with ... (Sun, 08 Jul 2007 07:01:00 GMT)

A new tool for dealing with debt
WASHINGTON — The first step for homeowners hoping to refinance in the face of a big jump in their mortgage payments — or for anyone who expects to buy a house in the face of tightening lending standards — is to push their credit score above 620, the traditional cutoff point for prime versus sub-prime rates and terms. (Sun, 08 Jul 2007 07:15:28 GMT)

New Jersey Mortgage Bank Joins Nationwide Association for Responsible Lending
Determined to show integrity, ethics and professionalism still exists in the mortgage business today, one lender is on a quest to prove they value the client more than the commission. Approved Funding Corp., a 20-yr-old Mortgage Bank, has recently joined the National Association of Responsible Loan Officers to ensure responsible lending practices, and to assist homeowners and homebuyers with ... (Sun, 08 Jul 2007 07:15:30 GMT)

Compare loan vs. home equity
With interest rates on the rise, consumers looking to tap into their home equity want to make sure they are getting the best possible deal for their money. (Sun, 08 Jul 2007 07:19:10 GMT)

Home calendar
Single Women Home Buyer Seminar: 6:30 p.m. Wed. at the Livonia Civic Center Library, 32777 Five Mile, Livonia. Free. Sponsored by Steven Scheel from Home Loan Specialists. Call Marcia Hermann at 734-516-9619. (Sun, 08 Jul 2007 07:34:38 GMT)

Mortgage payments or investments?
Most people who have mortgages dream of a day when they won't. In fact, many mortgage-holders speed up their payments to make that day arrive sooner. Is that smart, from a financial standpoint? (Sun, 08 Jul 2007 07:52:12 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 08 Jul 2007 08:12:55 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Sun, 08 Jul 2007 09:37:49 GMT)

Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Sun, 08 Jul 2007 09:37:59 GMT)

Plan a mortgage-burning party
I wondered: Could this be possible? The direct-mail solicitation claimed that we could shave years off the life of our 30-year mortgage and save thousands of dollars in interest by making half our mortgage payment every two weeks instead paying once a month. Of course, there was a fee. (Sun, 08 Jul 2007 12:35:04 GMT)

Australia's Home-Loan Approvals Probably Slowed as Costs Rose
July 9 (Bloomberg) -- Australia's home-loan approvals probably increased at the slowest pace in three months in May as rising house prices and building costs deterred property purchases. (Sun, 08 Jul 2007 15:03:25 GMT)

The mystery of the Blairs' vanishing mortgage
The financing of Tony Blair's £1 million London mews home - at the rear of his Connaught Square mansion - was at the centre of a mystery after his mortgage lender appeared to have dropped its interest in the purchase. (Sun, 08 Jul 2007 17:29:59 GMT)

The mystery of the Blairs' vanishing mortgage
The financing of Tony Blair's £1 million London mews home - at the rear of his Connaught Square mansion - was at the centre of a mystery after his mortgage lender appeared to have dropped its interest in the purchase. (Sun, 08 Jul 2007 17:29:59 GMT)

The mystery of the Blairs' vanishing mortgage
The financing of Tony Blair's £1 million London mews home - at the rear of his Connaught Square mansion - was at the centre of a mystery after his mortgage lender appeared to have dropped its interest in the purchase. (Sun, 08 Jul 2007 17:29:59 GMT)

Mortgage loan production office opens
PONCHATOULA - The board of directors and staff of American Bank & Trust Co. Inc. of Covington announce the grand opening of their mortgage loan production office at 1180 Hwy. 51 North, Suite A. (Sun, 08 Jul 2007 17:35:52 GMT)

Credit-score revamp won't halt mortgage fraud, experts say
WASHINGTON (MarketWatch) -- Steps being taken to prevent borrowers from "piggybacking" on someone else's credit records won't stop the practice, at least not right away, according to some mortgage market professionals. And even when it does, they worry other schemes to defraud lenders are likely to take its place. (Sun, 08 Jul 2007 18:40:21 GMT)

Mortgage 'burden' worse than Labor peak
An unprecedented issuing of previously secret documents suggests the Treasury believes households face a higher mortgage repayment burden than they did when interest rates peaked under the Labor government in the late 1980s. (Sun, 08 Jul 2007 19:15:10 GMT)

Australia's Home-Loan Approvals Probably Slowed as Costs Rose
July 9 (Bloomberg) -- Australia's home-loan approvals probably increased at the slowest pace in three months in May as rising house prices and building costs deterred property purchases. (Sun, 08 Jul 2007 21:55:34 GMT)

UPDATE: Credit-score Revamp Won't Halt Mortgage Fraud, Experts Say
WASHINGTON (Dow Jones) -- Steps being taken to prevent borrowers from " piggybacking" on someone else's credit records won't stop the practice, at least not right away, according to some mortgage market professionals. (Mon, 09 Jul 2007 00:18:53 GMT)

Take safe route to securing a car loan
IF you’re in the market for a personal car loan, spend some time shopping around. With more than 400 personal loans to choose from, it’s worth being picky. (Mon, 09 Jul 2007 02:01:51 GMT)

All you need to know about reverse mortgage
Reverse mortgage is a financial option that senior citizen homeowners aged 60 and above can explore. (Mon, 09 Jul 2007 04:05:22 GMT)

Mortgage firm sues newspaper over ad contract
E Mortgage Solutions is suing the Afro American Co. of Baltimore City, publisher of the Afro American Newspaper, for $400,000, alleging that the newspaper tried to illegitimately cancel its advertising deal with the Pikesville lender and kept its proprietary information to help benefit its competitors. (Mon, 09 Jul 2007 04:06:13 GMT)

City Pacific Acquires Mortgage Management Company (CIY.AX, 00737434, 20070709)
City Pacific has announced the acquisition of Australian Beneficial Finance. The purchase price of the business is structured on an "earn-out" basis spread over three years based on performance. ABF is a mortgage manager specialising in residential mortgage management, commercial and development funding Australia wide. City Pacific has also announced that the Group expects to post a record profit ... (Mon, 09 Jul 2007 04:43:00 GMT)

KiwiSaver additional consideration for home-loans
Mike Pero Mortgages is advising people with existing home-loans to talk to a mortgage broker about KiwiSaver before committing to join the scheme. Chief Executive Officer Jeff Staniland says “people may not have thought about the effect their KiwiSaver contributions could have on their home-loan. (Mon, 09 Jul 2007 04:49:37 GMT)

Banking giants push mortgage education
Hoping to stem the rising tide of problem loans, a group of mortgage lenders and banks -- including Bank of America Corp. and SunTrust Banks Inc. -- are backing a new advertising campaign that looks to educate homeowners on the number of options they have before going into foreclosure. (Mon, 09 Jul 2007 05:05:36 GMT)

Shop for a home loan by APR
It is home buying season in the Concho Valley again, and if you’re in the market for a new home, you are also probably in need of financing. Unfortunately, most buyers put the majority of their effort into shopping for a home and negotiating the best price they can get on it, but neglect to shop for the best deal they can get on their mortgage. (Mon, 09 Jul 2007 05:32:23 GMT)

Buyers feel sting of adjustable-rate mortgages
When Enej Dreca took out an adjustable-rate subprime mortgage in 2005, he knew the interest rate was likely to rise in two years. But he wasn't prepared for how high it would go. (Mon, 09 Jul 2007 07:09:50 GMT)

Where to Invest If Your Home Equity Evaporates: John F. Wasik
July 9 (Bloomberg) -- If you can't depend on your home equity increasing during a U.S. housing downturn, where do you turn for growth? U.S. bonds offer cold comfort. With ultra-safe six-month Treasury Bills yielding as much as 5 percent, your real return is paltry after inflation and taxes. (Mon, 09 Jul 2007 07:43:44 GMT)

Stiff loan deals put debtors on the streets
Growing numnbers of people are seeing their dreams of home ownership dissolve into the nightmare of repossession after taking out large mortgages from sub-prime lenders in order to consolidate unsecured debts. (Mon, 09 Jul 2007 09:06:45 GMT)

Think You're Paying Too Much on Your Car Loan?
(ARA) - You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. (Mon, 09 Jul 2007 09:52:49 GMT)

Getting the first car loan
Don't be scared by applying for your first car loan. Be prepared -- using these tips. (Mon, 09 Jul 2007 10:00:00 GMT)

Mortgage fraud rises alarmingly
Mortgage lender First Financial Equities of Teaneck made three refinance loans totaling $613,800 in 1999 to a customer who put up three housing units in Spring Valley, N.Y., as collateral. (Mon, 09 Jul 2007 11:13:22 GMT)

Thornburg Mortgage Paces Its Growth With Innovative Campus Network Solution From Extreme Networks
Extreme Networks, Inc., today announced that its scalable and secure network solutions, network design and professional services were selected by Thornburg Mortgage, Inc., allowing the company to enhance its technology foundation in a manner that can grow with its business operations and bolster its IP communications and business applications. (Mon, 09 Jul 2007 12:11:48 GMT)

Calvert Foundation Taking on Predatory Lenders, Mortgage Foreclosures
Some investors worry about the damage being done to their communities by predatory lending and escalating mortgage foreclosures. (Mon, 09 Jul 2007 12:17:34 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, 09 Jul 2007 13:38:47 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Mon, 09 Jul 2007 13:39:57 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, 09 Jul 2007 13:40:07 GMT)

Mortgage Rates Move Down Lower Interest Can Help Potential Home Buyers
WASHINGTON - Rates on 30-year mortgages sank this week to a one- month low, while rates on most other mortgages also fell, good news to prospective home buyers. (Mon, 09 Jul 2007 14:04:29 GMT)

Anworth Mortgage Asset initiated with "market outperform"
NEW YORK, July 9 (newratings.com) - Analysts at JMP Securities initiate coverage of Anworth Mortgage Asset Corp ( AOG.ETR ) with a "market outperform" rating. The target price is set to $10. (Mon, 09 Jul 2007 14:59:42 GMT)

Mortgage loan production office opens
PONCHATOULA - The board of directors and staff of American Bank & Trust Co. Inc. of Covington announce the grand opening of their mortgage loan production office at 1180 Hwy. 51 North, Suite A. (Mon, 09 Jul 2007 16:21:17 GMT)

Reverse Mortgage Market Currently at $4.3 Trillion, Less than 1% of Potential
July 9, 2007 – Americans age 62 or older hold an estimated $4.3 trillion of home equity according to the NRMLA/Hollister Reverse Mortgage Market Index (RMMI). Although the reverse mortgage industry has seen tremendous growth in the last five years, only a little more than 300,000 reverse mortgages have been originated in its short history, representing less than 1% of market penetration. (Mon, 09 Jul 2007 16:52:01 GMT)

Top lender sees mortgage rate rise
The UK's biggest building society announced it was increasing its mortgage rate following the recent hike in interest rates. Nationwide said it was raising its base mortgage rate by the full 0.25% to 7.24% from August 1. (Mon, 09 Jul 2007 17:14:07 GMT)

Mortgage resets: Record bill coming due
More than two million subprime adjustable rate mortgages (ARMs) are poised to reset at much higher rates in coming months, worsening an already suffering housing market. (Mon, 09 Jul 2007 18:01:39 GMT)

Mortgage lenders increase rates
Two of the UK's biggest mortgage lenders have announced they were increasing their rates following the recent hike in interest rates. Nationwide Building Society and Halifax both said they were passing on the full 0.25% to customers with a variable rate mortgage. (Mon, 09 Jul 2007 18:29:37 GMT)

Fitch Affirms 10 & Places 2 Classes on Watch Negative from 2 First Horizon Home Loan Mortgage Issues
NEW YORK----Fitch Ratings takes various rating actions on the following First Horizon Home Loan Mortgage Trust issues: (Mon, 09 Jul 2007 18:36:00 GMT)

Mortgage industry associations release real estate fraud brochure for consumers
Canada’s four mortgage industry associations have announced the release of a joint real estate fraud brochure. The brochure is designed to increase consumer awareness of real estate fraud issues and will be available on the associations’ Web sites and from individual members. (Mon, 09 Jul 2007 20:07:08 GMT)

KiwiSaver an issue if refinancing
A mortgage broker is advising people with home loans to seek advice before joining the KiwiSaver scheme, as it may effect the amount they can borrow. (Mon, 09 Jul 2007 20:38:35 GMT)

KiwiSaver an issue if refinancing
10 July 2007 A mortgage broker is advising people with home loans to seek advice before joining the KiwiSaver scheme, as it may effect the amount they can borrow. (Mon, 09 Jul 2007 22:34:50 GMT)

Advanced Mortgage closes in Huntsville
Advanced Mortgage in Huntsville closed their office about 2 weeks ago. (Mon, 09 Jul 2007 23:18:38 GMT)

Mortgage-payment pinch: Talk to your lender or an attorney?
PALM BEACH GARDENS, Fla. (MarketWatch) -- Are you among the adjustable-rate mortgage borrowers getting notice of a high unaffordable loan payment? Although lenders, regulators and credit counselors urge you to contact your lender, a phone call to an attorney in your state might better clarify options. (Mon, 09 Jul 2007 23:40:31 GMT)

Orange County: Subprime lending stupidity capital of the U.S.
The city of Irvine's fame as a home for bankrupt mortgage brokers has deep historical roots (Tue, 10 Jul 2007 00:44:48 GMT)

Real Estate Agent Pleads Not Guilty to Mortgage Fraud
A real estate agent pleads not guilty to mortgage fraud. (Tue, 10 Jul 2007 01:06:16 GMT)

Demand for home loans growing
OVER 66,000 Australians bit the bullet and took out a home loan in May, despite the rising cost of buying a property. (Tue, 10 Jul 2007 01:42:00 GMT)

Demand for home loans growing
OVER 66,000 Australians took out a home loan in May, ABS figures show, but the number of first-time homebuyers taking out housing loans fell. (Tue, 10 Jul 2007 01:42:00 GMT)

Demand for home loans growing - ABS
OVER 66,000 Australians bit the bullet and took out a home loan in May, despite the rising cost of buying a property. (Tue, 10 Jul 2007 01:42:00 GMT)

Mortgage shake-up to tackle homes crisis
Ministers plan to shake-up Britain's mortgage market as part of a three-pronged approach to tackle the crisis in affordable housing that is posing a threat to the economy and triggering a political backlash, the chancellor, Alistair Darling, said last night. (Tue, 10 Jul 2007 02:05:46 GMT)

Home loans demand grows
MORE than 66,000 Australians bit the bullet and took out a home loan in May, despite the growing cost of buying a property. (Tue, 10 Jul 2007 02:24:00 GMT)

Mortgage-payment pinch: Talk to your lender or an attorney?
Mortgage-payment pinch: Talk to your lender or an attorney? (Tue, 10 Jul 2007 03:14:26 GMT)

States Push Ahead With Subprime-Mortgage Laws as Congress Lags
July 10 (Bloomberg) -- State lawmakers, faced with a record number of constituents who may lose their homes, are pressing to pass their own laws to halt mortgage-lending abuses, saying they can't afford to rely on the U.S. Congress to act. (Tue, 10 Jul 2007 04:12:20 GMT)

Chancellor plans mortgage shake-up
A shake-up Britain’s mortgage market is being planned by the Government to help increase the number of affordable homes, Alistair Darling, the Chancellor disclosed last night. (Tue, 10 Jul 2007 06:35:41 GMT)

Mortgage shake-up to tackle homes crisis
Ministers plan to shake-up Britain's mortgage market as part of a three-pronged approach to tackle the crisis in affordable housing that is posing a threat to the economy and triggering a political backlash, the chancellor, Alistair Darling, said last night. (Tue, 10 Jul 2007 07:59:54 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, 10 Jul 2007 08:14:14 GMT)

Lenders: Mortgage proposals fall short
Lenders and investors are concerned over legislation taking aim at the mortgage industry in response to the subprime loan crisis. A package of bills under discussion would require mortgage solicitors to be licensed, and lenders to better ensure that a mortgage applicant can afford the loan. (Tue, 10 Jul 2007 08:20:03 GMT)

Demand for home loans grows
While politicians posture over the best way to deal with the housing affordability issue, Australians continue to bite the bullet and take out a home loan. (Tue, 10 Jul 2007 08:26:11 GMT)

Major mortgage pair increase their rates
Two of the UK's biggest mortgage lenders yesterday announced they were increasing their rates following the recent rise in interest rates. (10/07/2007 09:15:02) (Tue, 10 Jul 2007 08:31:05 GMT)

Anworth Mortgage Asset initiated with "market outperform"
NEW YORK, July 10 (newratings.com) - Analysts at JMP Securities initiate coverage of Anworth Mortgage Asset Corporation ( AOG.ETR ) with a "market outperform" rating. The 12-month target price is set to $10. (Tue, 10 Jul 2007 08:42:39 GMT)

Ahorro Corporacion Targets U.S. With Spanish Mortgage Bonds
July 10 (Bloomberg) -- Ahorro Corporacion Financiera SV, the investment group owned by 43 Spanish savings banks, is turning to U.S. investors as a property slowdown makes it harder to sell mortgage bonds in Europe. (Tue, 10 Jul 2007 09:11:04 GMT)

Darling hits out at mortgage brokers and lenders over short-term fixed-rate deals
New Chancellor Alistair Darling has hit out at mortgage brokers and lenders for offering fixed-rate deals on only a short-term basis to maximise profits rather than selling longer-term mortgages which could help tackle the affordability crisis. ... (Tue, 10 Jul 2007 09:57:19 GMT)

Ameriquest settles for $325M
More than 26,000 homeowners in the state will receive letters this week notifying them that they may be eligible for financial restitution as a result of the Attorney General's Office's $325 million settlement with Ameriquest Mortgage Company and its subsidiary companies. (Tue, 10 Jul 2007 10:57:35 GMT)

U.K. Mortgage Lenders Rebuff Darling's Call on Loans (Update1)
July 10 (Bloomberg) -- Britain's Council of Mortgage Lenders rebuffed a call from Chancellor of the Exchequer Alistair Darling to offer more loans at a fixed interest rate for up to 25 years, saying consumer demand for two-year agreements was strong. (Tue, 10 Jul 2007 11:26:53 GMT)

Mortgage burden hits record level
The burden of taking out a mortgage reaches record levels, says the Council of Mortgage Lenders (CML). (Tue, 10 Jul 2007 12:15:03 GMT)

Mortgage resets: Record bill coming due
More than two million subprime adjustable rate mortgages are poised to reset at much higher rates in coming months, worsening an already suffering housing market. (Tue, 10 Jul 2007 13:16:00 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Tue, 10 Jul 2007 13:25:17 GMT)

Fitch Rates $549MM Soundview Home Loan Trust, Asset-Backed Ctfs, Series 2007-OPT3
NEW YORK----Fitch Ratings has assigned Soundview Home Loan Trust's, asset-backed certificates, series 2007-OPT3, which closed on July 10, 2007 the following ratings: $443 million classes I-A-1, II-A-1 through II-A-4 'AAA'; $21.5 million class M-1 'AA+'; $18.4 million class M-2 'AA'; $10.7 million class M-3 'AA-'; $10.2 million class M-4 'A+'; $9.3 million class M-5 'A'; $8.8 million class M-6 ... (Tue, 10 Jul 2007 13:59:00 GMT)

Nation's home buyers drag their feet
The number of first-home buyers entering the market eased in May and home-loan approvals rose at the slowest pace in six months, adding to evidence that housing affordability is a problem across the nation. (Tue, 10 Jul 2007 14:14:57 GMT)

Federal Home Loan Bank contributing $10.8M to affordable housing
Federal Home Loan Bank of Cincinnati said Tuesday it will spread $10.8 million in affordable housing grants across Ohio, Kentucky and Tennessee. (Tue, 10 Jul 2007 15:39:39 GMT)

S&P may downgrade $12 bln in subprime mortgage securities
SAN FRANCISCO (MarketWatch) -- Influential rating agency Standard & Poor's said on Tuesday that it may downgrade $12 billion of subprime mortgage-backed securities because losses in this low-end part of the home-loan market have increased and will probably get worse. (Tue, 10 Jul 2007 16:10:31 GMT)

Mortgage loan production office opens
PONCHATOULA - The board of directors and staff of American Bank & Trust Co. Inc. of Covington announce the grand opening of their mortgage loan production office at 1180 Hwy. 51 North, Suite A. (Tue, 10 Jul 2007 16:36:49 GMT)

S&P finally says subprime is mostly junk
WASHINGTON (MarketWatch) - Standard & Poor's just drove a huge harpoon into the heart of the mortgage credit bubble and it's going to take a long time to clean up the mess once the beast finally dies. (Tue, 10 Jul 2007 16:55:31 GMT)

S&P to slash subprime bond ratings
Standard and Poor's Rating Services is downgrading 612 securities backed by subprime mortgage loans because of high delinquency and foreclosure rates. (Tue, 10 Jul 2007 17:31:29 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Tue, 10 Jul 2007 18:37:36 GMT)

Housing price index launched
The National Housing Bank (NHB), the government’s apex housing refinance institution, has launched India’s first housing price index that will track fluctuations in the property market and collect data on the parallel black economy. (Tue, 10 Jul 2007 18:48:00 GMT)

Study Finds Home Loan Disparities
Higher income does not protect blacks and Hispanics from receiving mortgage loans with above-market rates, a new study by a group pushing for reforms to lending laws says. (Tue, 10 Jul 2007 19:36:17 GMT)

Study: Racial discrimination persists in mortgage loans
Higher income does not protect blacks and Hispanics from receiving mortgage loans with above-market rates, a new study by a group pushing for reforms to lending laws says. (Tue, 10 Jul 2007 19:57:47 GMT)

US mortgage fears spark sell-off
Fears of further problems in the US mortgage industry and the broader economy flared on Tuesday, triggering a sell-off in credit markets as investors sought safe havens. (Tue, 10 Jul 2007 20:09:05 GMT)

Corporate Bond Risk Soars After S&P's Subprime Mortgage Warning
July 10 (Bloomberg) -- Corporate bond risk soared today to the highest in 13 months after Standard & Poor's raised the possibility of downgrading $12 billion of subprime mortgage securities, stoking concerns that the flow of money in other markets may be curbed, according to credit-default swap traders. (Tue, 10 Jul 2007 20:25:34 GMT)

Fixer Upper In Home Retailing
Home Depot warns of falling profit, but company seems well-positioned to ride out the housing storm. (Tue, 10 Jul 2007 20:45:04 GMT)

S&P may cut ratings on $12.1B of subprime mortgage debt
Standard & Poor's said Tuesday it may cut ratings on $12.1 billion of mortgage-related debt this week on expectations for an 8% drop in U.S. home prices and more mortgage defaults. (Tue, 10 Jul 2007 20:51:47 GMT)

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