Mortgage News Jul 2007

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How to get best student loan deal
Where do you find generous deals on federally sponsored loans? Schools that participate in the Federal Direct Loan Program give you direct access to Uncle Sam's largesse; the government funds the loans, and the school administers them. (Sun, 15 Jul 2007 09:32:07 GMT)

SBI's home loan mela
Ram Krishna Garg, general manager, SBI, and Anoop K Prabhakar, general manager , SBI, during the inauguration of SBI Property Fair in Chennai yesterday. (Sun, 15 Jul 2007 10:17:56 GMT)

Sometimes a home equity loan can fit the bill for college
Dear Rick: We have twins who will be entering their senior year of high school in the fall. My wife and I recently attended a seminar about paying for college. The firm that hosted the seminar pushes the idea of using a home equity loan as a way to pay for college. From what I understand, they promote taking equity from your home and placing the money in an account that would grow at a faster ... (Sun, 15 Jul 2007 11:00:43 GMT)

Braking ARMs
The red-hot real estate boom a few years ago that lured many into the mortgage industry attracted lenders who were unscrupulous and those who failed to warn their clients against potentially volatile loans. (Sun, 15 Jul 2007 12:13:03 GMT)

Home loans tipped to dip
FEWER Australians plan to take out a home loan over the next 12 months, leading to fears the mortgage market will slow. (Sun, 15 Jul 2007 14:00:00 GMT)

Wave of foreclosures hits homeowners across nation
mortgage market, and the picture isn't a pretty one. Trac, with one of every 134 homes in the two counties in some stage of the foreclosure process. "It's getting worse," said broker Pat McKenna of Bristol Home Loans in Ontario. (Sun, 15 Jul 2007 14:55:06 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, 15 Jul 2007 17:08:33 GMT)

Six popular incentives that might catch a home buyer's attention
CHICAGO (MarketWatch) -- Flashy buyer incentives like a new car parked in the driveway or a flat-panel TV might grab headlines but when it comes to actually enticing someone to buy a home it's the more practical perks that count, real-estate professionals say. (Sun, 15 Jul 2007 19:59:12 GMT)

Six popular incentives that might catch a home buyer's attention
CHICAGO (MarketWatch) -- Flashy buyer incentives like a new car parked in the driveway or a flat-panel TV might grab headlines but when it comes to actually enticing someone to buy a home it's the more practical perks that count, real-estate professionals say. (Sun, 15 Jul 2007 20:25:31 GMT)

Investors may look far from home
IF YOU CAN'T DEPEND on your home equity increasing during a U. (Sun, 15 Jul 2007 20:44:56 GMT)

KiwiSaver could make refinancing harder
Increasing home loan rates are not the only thing hurting borrowers at the moment. One brokers says joining KiwiSaver could make refinancing even harder. (Sun, 15 Jul 2007 23:43:47 GMT)

Cut oil dependence to cut mortgage payments
An eight percent jump in petrol prices is placing pressure on mortgage costs, and shows the need to reduce dependence on oil, the Green Party says. (Mon, 16 Jul 2007 01:34:24 GMT)

Opening mortgage door
THE weekend rounds of open house inspections are all too familiar for many first home buyers but the process of gaining mortgage approval tends to be less well understood. (Mon, 16 Jul 2007 02:01:31 GMT)

PM at odds with cheaper homes plan
The housing industry has unveiled its vision for making housing more affordable, with calls for the Federal Government to forgo tax revenue so Australians can contribute earnings to a home loan savings account, fund infrastructure charges, extend the first home owner's grant and build more social housing. (Mon, 16 Jul 2007 02:23:38 GMT)

One step closer to home
REDLANDS - Jeanmarie Ortiz envisions having a family home where her children, when they are grown up, will come back to visit with their children. (Mon, 16 Jul 2007 03:59:19 GMT)

The Private Bank teams with mortgage lender
A Buckhead-based bank and mortgage lender are joining forces in a slowing housing market. (Mon, 16 Jul 2007 04:10:36 GMT)

Gateway founder Lowrie sees future in Vision Mortgage
BLUE BELL -- Regina Lowrie's retirement from the mortgage banking business was short-lived. She has started Vision Mortgage Capital to meet housing and changing demographic needs. (Mon, 16 Jul 2007 04:13:38 GMT)

GE seeks buyer for subprime mortgage unit
General Electric plans to sell WMC Mortgage, a subprime lender it bought three years ago. (Mon, 16 Jul 2007 05:12:42 GMT)

Six popular incentives that might catch a home buyer's attention
Six popular incentives that might catch a home buyer's attention (Mon, 16 Jul 2007 06:13:04 GMT)

Mortgage market tipped to slow: survey
Fewer Australians plan to take out a home loan over the next 12 months, leading to fears the mortgage market will slow. (Mon, 16 Jul 2007 06:19:32 GMT)

iLeads.com to Offer Adjustable Rate Mortgage Leads Enhanced by First American Financial Corporation
Mortgage brokers gain access to recast dates, recast rates, payment increases. (Mon, 16 Jul 2007 07:00:00 GMT)

Wittman: Some lenders unscrupulous in approving mortgage loans
No money? No problem! That's the outrageous claim many Web sites are making. It's just the latest wrinkle in the growing mortgage fraud world. (Mon, 16 Jul 2007 07:11:37 GMT)

S&P, Moody's Downgrade Subprime Backed Bonds: Indymac's Response
Grove Nichols submits: On Tuesday, July 10th, S&P and Moodys collectively downgraded, or placed on credit watch, 1,011 bonds that are backed by subprime mortgage securitizations. (Mon, 16 Jul 2007 07:11:43 GMT)

Wave of foreclosures hits homeowners across nation
mortgage market, and the picture isn't a pretty one. Trac, with one of every 134 homes in the two counties in some stage of the foreclosure process. "It's getting worse," said broker Pat McKenna of Bristol Home Loans in Ontario. (Mon, 16 Jul 2007 07:19:16 GMT)

iLeads.com to Offer Adjustable Rate Mortgage Leads Enhanced by First American Financial Corporation
Mortgage brokers gain access to recast dates, recast rates, payment increases. (PRWeb Jul 16, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U3F1YS1TcXVhLVN1bW0tUGlnZy1UaGlyLVplcm8= (Mon, 16 Jul 2007 07:34:55 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Mon, 16 Jul 2007 08:14:28 GMT)

How Home Equity Can Help You Slash Debt
(ARA) - Escalating personal debt is one of the biggest concerns Americans face when it comes to their financial welfare, studies show. Getting out of debt almost seems to be replacing home ownership as the great American dream. (Mon, 16 Jul 2007 08:14:37 GMT)

Fisher: Mortgage mess snares savior of community
For more than 50 years, Onedia Branch has handed out clothing, food, hope and prayers to needy people in East Palo Alto, operating her own community charity from her house on Farrington Way. (Mon, 16 Jul 2007 08:54:05 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, 16 Jul 2007 09:37:37 GMT)

Office Loan Defaults Likely To Rise
Loan defaults for U.S. CMBS are likely to begin ticking up as deals issued over the last few years contain larger concentrations of interest-only (IO) loans and loans with a higher amount of debt, according to the latest CMBS loan default study by Fitch... (Mon, 16 Jul 2007 10:52:39 GMT)

Mortgage Branch Meltdown from MortgageDaily.com
Net branch companies are among the latest mortgage meltdown casualties, according to http://www.MortgageDaily.com -- the dominant source of online news for the mortgage industry. (Mon, 16 Jul 2007 11:00:00 GMT)

Mortgage Branch Meltdown from MortgageDaily.com
the dominant source of online news for the mortgage industry. (Mon, 16 Jul 2007 11:56:45 GMT)

Housing Bubble and Real Estate Market Tracker
A roundup of articles and data about the housing market. (Mon, 16 Jul 2007 12:01:51 GMT)

KKR Cancels $1.4 Billion Refinancing for Maxeda LBO (Update1)
July 16 (Bloomberg) -- Kohlberg Kravis Roberts & Co. canceled 1 billion euros ($1.4 billion) of loans it was seeking for Dutch home-improvement retailer Maxeda BV, a person involved in the transaction said. (Mon, 16 Jul 2007 12:10:44 GMT)

OFFICIAL CORRECTION Dexia sets up new mortgage bond bank in Luxembourg
(company correcting July 4 story to show new bank is a new entity) BRUSSELS (Thomson Financial) - Franco-Belgian banking and insurance group Dexia SA has established a new bank for mortgage bonds (Lettres de Gage) in Luxembourg, Dexia LdG Banque SA, which will refinance assets generated by the company's public sector financing business through the issuance of covered bonds. (Mon, 16 Jul 2007 12:56:58 GMT)

VTB mortgage loan portfolio doubles
RBC, 16.07.2007, Moscow 16:52:14. VTB Group's mortgage loan portfolio has increased 1.8 times to $1.681bn, VTB 24 Executive Board member Anatoly Pechatnikov announced today. VTB 24 alone has almost doubled its mortgage loan portfolio, from $761.7m to $1.5bn. (Mon, 16 Jul 2007 13:02:22 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, 16 Jul 2007 13:39:49 GMT)

Survey points to home slowdown
FEWER Australians are planning to take out a home loan over the next 12 months. (Mon, 16 Jul 2007 14:00:00 GMT)

Do You Take This Credit Risk?
It's often occurred to me that people who have had children together can't really split up completely -- at least not until the children are grown, and perhaps not even then. They'll always be in each others' lives in some way. (Mon, 16 Jul 2007 14:50:02 GMT)

Reviewing your mortgage
Is your mortgage still the best deal around? Our checklist tells you what to look out for. (Mon, 16 Jul 2007 15:01:14 GMT)

Federal Home Loan Bank of Indianapolis Announces 2007 Second Quarter Dividend
INDIANAPOLIS, July 16, 2007 -- The board of directors of the Federal Home Loan Bank of Indianapolis declared a dividend on B-1 stock at an annualized rate of 4.50%. Additionally, B-2 stock will be paid at an annualized rate of 3.60%. (Mon, 16 Jul 2007 16:37:49 GMT)

KKR Cancels $1.4 Billion Loan to Refinance Maxeda LBO (Update5)
July 16 (Bloomberg) -- Kohlberg Kravis Roberts & Co. canceled plans to raise 1 billion euros ($1.4 billion) of loans for Dutch retailer Maxeda BV as investors shun high-yield debt. (Mon, 16 Jul 2007 16:55:44 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, 16 Jul 2007 17:09:32 GMT)

Credit Service Company Makes Credit Analysis Solution Available to Mortgage Professionals Nationwide
Market Kinetix, LLC, has announced that Van Nuys, California-based Credit Service Company, a mortgage credit reporting service with nationwide clients from California to Florida, will be offering Market Kinetix's Deal Maker Score credit analysis solution to its mortgage industry lender and broker clients. (Mon, 16 Jul 2007 17:27:45 GMT)

Grant gives help for home repair Local couple receives loan to fix septic, roof, furnace
Clarence Frazier of Martinsville said the thing he looked forward to most after his furnace, septic system and roof had been repaired was the showers. (Mon, 16 Jul 2007 17:50:19 GMT)

MCM: A conventional loan with no down payment
MyCommunityMortgage is a group of community lending programs offered by Fannie Mae designed to help low- and moderate-income borrowers purchase a home with little or no down payment. (Mon, 16 Jul 2007 18:04:15 GMT)

SBI clients
Five years ago, SBI Life Insurance introduced the home loan (creditor) life insurance cover and has been selling it on State Bank of India’s home loans. Today, half of SBI’s home loan borrowers are protected by insurance. (Mon, 16 Jul 2007 18:36:48 GMT)

Countrywide mortgage originations up in June
Countrywide Financial Corp. reported an increase in mortgage loan fundings and commercial real estate funding for the month of June, the company said Monday. (Mon, 16 Jul 2007 18:37:03 GMT)

Pacific Coast Mortgage Teams Up With Mortgage Planner Mike Lowell
Pacific Coast Mortgage is growing and taking steps to continue providing service excellence to clients. (Mon, 16 Jul 2007 19:20:36 GMT)

Hot Mortgage Deal With Really Low Rates? Watch Out
Instead of the American dream, a growing number of homeowners are experiencing the nightmare of losing their homes. (Mon, 16 Jul 2007 19:25:19 GMT)

Online Mortgage Lenders Offer Relief to Distressed Homeowners
The Mortgage Bankers Associations report that in the first quarter of 2007 the percentage of subprime ARMs that started the foreclosure process climbed to a record high. Analysts estimate that nearly 2 million ARMs will reset to higher rates this year and next. Option ARMs can become so costly they push homeowners into financial crisis. You can avoid "Payment Shock", losing your home, and ... (Mon, 16 Jul 2007 19:45:00 GMT)

Mortgage fraud defendant wants passport returned
Michael Rodd, a defendant in the mortgage fraud case that involves former Jackson County executive Kathryn Shields and her husband, Phil Cardarella, is asking the federal court to give his passport back. (Mon, 16 Jul 2007 19:46:18 GMT)

ZIMBABWE: White farmers begin returning home
Source: IRIN Scores of white commercial farmers who left Zimbabwe after their farms were seized as part of President Robert Mugabe's land reform policies are returning home as the promise of greener pastures elsewhere in southern Africa fails to materialise. (Mon, 16 Jul 2007 19:55:23 GMT)

Monarch Bank Announces Major Growth, Greatly Expands New Mortgage Operation
Monarch Bank officially announced the expansion of its mortgage operations and a new name for the company. (Mon, 16 Jul 2007 20:00:00 GMT)

Montgomery Homeowners Face Surge in Foreclosures
More than 700 homes were in foreclosure in Montgomery County between April and June of this year, up from 49 during the same period last year, said Maryland Labor Secretary Tom Perez, offering a sobering picture yesterday of how the surge in foreclosures is affecting the affluent county. (Mon, 16 Jul 2007 20:29:59 GMT)

Mortgage lender Alliance Bancorp files Chapter 7
Alliance Bancorp Inc. has filed for Chapter 7 bankruptcy protection and will liquidate, becoming the latest residential mortgage lender to collapse in the U.S. housing downturn. (Mon, 16 Jul 2007 22:36:48 GMT)

Suburban D.C. Office Project Moves Forward with $43M Loan
A construction loan totaling nearly $43 million has closed, paving the way for the development of two premier office buildings in the suburban Washington, D.C., town of Alexandria, Va. The project, which will feature an aggregate 130,000 square feet of office and retail, is being developed by LCOR Inc. and will cost a total of $58 million to complete. (Mon, 16 Jul 2007 23:12:42 GMT)

The mortgage fees that have soared by 600% in two years
Homebuyers are being lured into taking up what appear to be good value mortgage deals only to be stung with huge fees. (Mon, 16 Jul 2007 23:35:04 GMT)

Mortgage market is predicted to slow
FEWER Australians plan to take out a home loan in the next 12 months, leading to fears the mortgage market will slow. (Tue, 17 Jul 2007 02:02:01 GMT)

Case of stolen identity still under investigation
We were scheduled to air another one of Your Stories about a young Bakersfield man claiming someone stole his identity in order to get a home loan, and now he’s... (Tue, 17 Jul 2007 02:09:50 GMT)

How much your home value is affected by the subprime mortgage meltdown?
A question that lingers in many minds is how far will the real estate fall? How much does this subprime mortgage meltdown affect the home prices? The answer lies in the level of disclosures by the financial institutions. According to one estimate, this is just tip of the iceberg. (Tue, 17 Jul 2007 03:59:52 GMT)

Spotting Mortgage Fraud
With local properties and agents under possible scrutiny from the Federal Government, WSFA 12 News shows you the warning signs of possible mortgage fraud. (Tue, 17 Jul 2007 04:07:39 GMT)

Interest-Only Loan Calculator on LoanPage.com: Cool Tool for Today's Market
Interest-only home loans are popular, and LoanPage.com reminds borrowers that they need to understand how the loans can be helpful or harmful. Helpful online tools on LoanPage.com calculate how much money homeowners could save each month with an interest-only home loan. (Tue, 17 Jul 2007 07:01:00 GMT)

Coast Bank files suit against mortgage company
After being hit with a barrage of lawsuits from angry borrowers and shareholders, Coast Bank of Florida has fired its own legal salvo against a mortgage company it says failed to purchase more than $20 million in construction loans. (Tue, 17 Jul 2007 07:13:44 GMT)

Interest-Only Loan Calculator on LoanPage.com: Cool Tool for Today's Market
Interest-only home loans are popular, and LoanPage.com reminds borrowers that they need to understand how the loans can be helpful or harmful. Helpful online tools on LoanPage.com calculate how much money homeowners could save each month with an interest-only home loan. (PRWeb Jul 17, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1NYWduLVN1bW0tUGlnZy1UaGlyLVplcm8= (Tue, 17 Jul 2007 07:14:04 GMT)

First rung on property ladder gets harder to reach
Many first-time home buyers are resorting to unusual extremes to scrape together money for a down payment and qualify for a loan. (Tue, 17 Jul 2007 07:19:30 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, 17 Jul 2007 08:14:48 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, 17 Jul 2007 08:14:58 GMT)

Commercial mortgage online packager launches
Financial packager Brokermart.co.uk is launching a dedicated commercial mortgage subsidiary, Commercialmart.co.uk. (Tue, 17 Jul 2007 09:12:19 GMT)

Orange County mortgage casualties
Acoustic Home Loans , Orange. Closed in April 2006. Laid off 203 people. ACC Capital Holdings , Orange. Laid off an estimated 3,000 of the 6,000 employees at its Ameriquest Mortgage Co., Argent Mortgage Co. (Tue, 17 Jul 2007 11:15:23 GMT)

High roller of home loans
Over five years, Quick Loan Funding wrote $3.8 billion in mortgages to people with shaky credit. (Tue, 17 Jul 2007 11:15:35 GMT)

Homeowners warned: more mortgage rate rises are on the way
Millions of homeowners are facing further mortgage misery. Economists said today another increase in the cost of borrowing is almost certain and could come next month (Tue, 17 Jul 2007 12:16:44 GMT)

Homeowners warned: more mortgage rate rises are on the way
Millions of homeowners are facing further mortgage misery. (Tue, 17 Jul 2007 13:00:07 GMT)

Nearly 25,000 New Yorkers eligible for Ameriquest settlement
Nearly 25,000 homeowners across the state could receive restitution from Ameriquest Mortgage Co. and its subsidiaries as a result of a $325 million settlement announced in January 2006, state regulators said. (Tue, 17 Jul 2007 13:25:14 GMT)

Wauwatosa To Discuss Loan Pay Store Ban
WAUWATOSA, Wis. -- Wauwatosa residents will have the chance to voice their opinions about loan stores popping up in their neighborhoods Tuesday night. (Tue, 17 Jul 2007 13:43:44 GMT)

Mortgage standards safer than U.S. but slipping
Lenders have been more conservative so far than their U.S. counterparts in providing mortgages to those with less than perfect credit histories, though standards are on the slide. (Tue, 17 Jul 2007 13:51:00 GMT)

Mortgage standards safer than U.S. but slipping
Business Finance and city news online from Interactive Investor (www.iii.co.uk). Plus financial and currency market news and information 24/7. Stock prices, share prices, currency markets news and business finance headlines. Also news from AFX and Reuters. (Tue, 17 Jul 2007 14:18:33 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, 17 Jul 2007 14:25:27 GMT)

State regulators follow federal subprime-mortgage crackdown
WASHINGTON (MarketWatch) -- State banking regulators followed the federal government's lead on Tuesday by issuing tough standards to combat risky subprime lending, telling non-bank mortgage providers they're at risk if they make loans to customers who can't pay them back. (Tue, 17 Jul 2007 14:25:31 GMT)

Mortgage standards safer than U.S. but slipping
Subprime loans account for around 8 percent of mortgage lending, according to the FSA, versus 20 percent of U.S. lending in 2006. (Tue, 17 Jul 2007 17:07:24 GMT)

County Ameriquest customers are due a refund Multi-state Ameriquest settlement based on predatory lending practices
Some 250 residents in Morgan County who took out loans with Ameriquest Mortgage Co. are eligible for refunds after several agencies accused the company and its affiliates of engaging in unlawful mortgage lending practices such as charging excessive fees and penalties. (Tue, 17 Jul 2007 17:20:39 GMT)

Federal and State Agencies Announce Pilot Project to Improve Supervision of Subprime Mortgage Lenders
Three federal agencies and two associations of state regulators will cooperate in an innovative pilot project to conduct targeted consumer-protection compliance reviews of selected non-depository lenders with significant subprime mortgage operations. (Tue, 17 Jul 2007 18:14:16 GMT)

(AFX UK Focus) 2007-07-17 19:15 GMT: Federal, state regulators tighten scrutiny of subprime mortgage lenders
WASHINGTON (Thomson Financial) - Non-bank lenders to the subprime mortgage market will be the focus of a new federal/state review process that could lead to enforcement actions against lenders that are not living up to federal and state laws and regulations, a statement from three federal regulators said today. (Tue, 17 Jul 2007 18:35:00 GMT)

Senior Citizens More Aware of Reverse Mortgage than other Mortgage Products
July 17, 2007 – Awareness of the reverse mortgage is extremely high among older Americans in a demographic grouping of people age 62 and older, called the "Matures" by the Harris Poll. The Matures have a greater awareness of the reverse mortgage than they do of any other mortgage product, says Harris. (Tue, 17 Jul 2007 19:22:01 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, 17 Jul 2007 19:44:09 GMT)

Wisconsin consumers to split $3.2M in Ameriquest settlement
Wisconsin Attorney General J.B. Van Hollen said Tuesday that 6,900 Wisconsin consumers are eligible for $3.2 million in restitution from Ameriquest Mortgage Co. as part of a $325 million national settlement of a predatory lending lawsuit against the company. (Tue, 17 Jul 2007 20:03:05 GMT)

Fitch Takes Various Rating Actions on 2 First Horizon Home Loan Mtge Trust RMBS Issues
NEW YORK----Fitch Ratings takes rating actions on the following First Horizon Home Loan Mortgage Trust issues: (Tue, 17 Jul 2007 21:54:00 GMT)

Risk of Subprime Mortgage Bonds Jumps to Record for Second Day
July 17 (Bloomberg) -- The risk of owning bonds backed by subprime mortgages rose to a record for a second day as investors continued to bet that losses will mount. (Tue, 17 Jul 2007 22:11:22 GMT)

20pc mortgage deposits possible
A FEDERAL inquiry into mortgage finance may recommend borrowers be required to put up a deposit of 20 per cent, amid rising mortgage defaults and debt levels. (Tue, 17 Jul 2007 23:00:00 GMT)

Nursing home loan request to be discussed Thursday
IRONWOOD -- Josephson Nursing Home's request for a $100,000 loan will be acted on by the Ironwood Economic Development Corporation at a Thursday morning meeting. (Tue, 17 Jul 2007 23:47:31 GMT)

Push for mortgage revamp
A FEDERAL inquiry into mortgage finance may recommend borrowers be required to put up a deposit of 20 per cent. (Wed, 18 Jul 2007 00:00:00 GMT)

State issues advice to mortgage lenders
In the wake of warnings to consumers about adjustable interest rates and the settlement of a multistate predatory lending lawsuit, the state has advice for mortgage brokers and lenders who market and sell certain adjustable-rate mortgage products. (Wed, 18 Jul 2007 00:31:29 GMT)

Pacific Coast Mortgage Adds Mortgage Consultant Gary Eastham To Team
Pacific Coast Mortgage grows stronger and announces the addition of Mortgage Consultant Gary Eastham to its team mortgage loan professionals. (Wed, 18 Jul 2007 00:50:35 GMT)

Third of students to live at home
Almost a third of youngsters starting university intend to live at home to avoid debt, a survey suggests. (Wed, 18 Jul 2007 01:28:55 GMT)

'Ignorance reason for mortgage problems'
INSUFFICIENT action by Australia's prudential watchdog and the community's lack of financial literacy is behind the growing number of mortgage defaulters, says the chairman of a federal inquiry into mortgage lending. (Wed, 18 Jul 2007 03:00:00 GMT)

'Ignorance reason for mortgage problems'
INSUFFICIENT action by Australia's prudential watchdog and the community's lack of financial literacy is behind the growing number of mortgage defaulters, says the chairman of a federal inquiry into mortgage lending. (Wed, 18 Jul 2007 03:00:00 GMT)

Ameriquest agrees to $3.2 million settlement
About 6,900 Wisconsin homebuyers - five times more than originally thought - are entitled to $3.2 million restitution from Ameriquest Mortgage Co. for alleged overcharging , the state attorney general said Tuesday. The settlement is part of Ame... (Wed, 18 Jul 2007 03:07:04 GMT)

More home-loan scrutiny
WASHINGTON — Federal and state banking regulators on Tuesday said they would step up their scrutiny of lenders that make home loans to people with shaky credit, focusing on companies that operate outside federal banking oversight. The pilot program announced by the Federal Reserve, two other federal agencies and state banking officials is scheduled to start in the fourth quarter and affect ... (Wed, 18 Jul 2007 04:06:09 GMT)

Dollars and Sense: Reverse mortgages require a close look
For many seniors, home equity is roughly 30-40 percent of their net worth. If you and your spouse are both at least 62 years of age and have significant equity in your home, a reverse mortgage can turn that equity into tax-free cash without forcing you to move or make a monthly payment. (Wed, 18 Jul 2007 04:08:21 GMT)

Mortgage crisis blame game
INSUFFICIENT action by watchdogs and the community's lack of financial savvy is behind a rising number of mortgage defaulters, an MP says. (Wed, 18 Jul 2007 04:20:00 GMT)

'Ignorance reason for mortgage problems'
INSUFFICIENT action by Australia's prudential watchdog and the community's lack of financial literacy is behind the growing number of mortgage defaulters. (Wed, 18 Jul 2007 04:33:00 GMT)

Homeowners Can Ask 6 Questions to Choose 15- or 30-Year Mortgage
Bills.com co-CEO offers tips to help plan home loan. (Wed, 18 Jul 2007 07:01:00 GMT)

Homeowners Can Ask 6 Questions to Choose 15- or 30-Year Mortgage
Bills.com co-CEO offers tips to help plan home loan. (PRWeb Jul 18, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/U3F1YS1TdW1tLUZhbHUtUGlnZy1UaGlyLVplcm8= (Wed, 18 Jul 2007 07:19:48 GMT)

Foreclosures likely as loan rates reset
Don't expect the rate of home foreclosures to lessen anytime soon. (Wed, 18 Jul 2007 07:26:13 GMT)

Fed to Foster Monitoring of Subprime Market
The Federal Reserve Board and other federal and state regulators announced plans yesterday to review the practices of lenders who are significant players in the troubled subprime home mortgage market, which typically caters to borrowers with blemished credit. (Wed, 18 Jul 2007 08:11:06 GMT)

Profit rises as fees ease loan slump
NEW YORK–Wells Fargo & Co, the fifth-largest U.S. bank, yesterday said second-quarter profit rose 9 per cent to a record, as higher customer fees offset a decline in mortgage banking income and a jump in loan losses. (Wed, 18 Jul 2007 08:41:00 GMT)

Ahead of the Bell: Mortgage Applications
Investors will get a fresh look at the housing slump's impact on home loan applications when a trade group publishes its weekly index Wednesday morning. (Wed, 18 Jul 2007 10:22:52 GMT)

US MBA Mortgage Survey Table Of Current Interest Rates
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 6.93 1.60 6.61 -5 0 -13 15-Year Fixed 6.63 1.33 6.29 -2 2 -9 7-Year Balloon 5.96 1.06 5.70 0 -2 -83 5-Year Balloon 6.49 1.09 6.22 5 -5 -64 ARM, 1-Yr Tsy 5.88 1.11 5.60 0 -10 -68 FHA 203 (b) 6.91 0.99 6.74 -4 3 -3 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 18 Jul 2007 11:05:03 GMT)

Mortgage applications climbed last week: MBA
NEW YORK (Reuters) - Mrtgage applications rose slightly last week as a jump in refinancing demand overshadowed a drop in demand for loans to buy houses, an industry group said on Wednesday. (Wed, 18 Jul 2007 11:12:48 GMT)

Mortgage applications rose 0.9% last week, MBA data show
CHICAGO (MarketWatch) -- The volume of applications filed for mortgage loans increased slightly last week as interest rates for fixed-rate loans decreased, the Mortgage Bankers Association reported Wednesday. (Wed, 18 Jul 2007 11:25:21 GMT)

REM NETWORK
What's the Implication of Hilton's Blackstone Deal? GRETNA, LA-A New York City investment management company kicked in $20 million as part of a $95 million senior mortgage refinance to aid in reconstruction of the Oakwood Center. (Wed, 18 Jul 2007 11:37:03 GMT)

CIT Group Posts Unexpected Loss on Home-Lending Exit (Update2)
July 18 (Bloomberg) -- CIT Group Inc., the largest independent commercial finance company in the U.S., reported an unexpected loss for the second quarter after exiting the home- lending business. (Wed, 18 Jul 2007 11:40:54 GMT)

Mortgage applications climbed last week: MBA
Mortgage applications rose slightly last week as a jump in refinancing demand overshadowed a drop in demand for loans to buy houses, an industry group said on Wednesday. (Wed, 18 Jul 2007 11:47:23 GMT)

Twentysix Leeds wins Mortgage Brain account
Mortgage Brain has appointed digital creative agency twentysix to promote its new Premier Edition to its B2B audience. The agency will be tasked with growing the market share of Premier Edition, using DM and email to drive prospects to a personalised microsite, also developed by twentysix Leeds. ... (Wed, 18 Jul 2007 11:49:12 GMT)

Mortgage applications climb
Jump in refinancing demand pushes index up 0.9 percent to 631.6, according to latest numbers from Mortgage Bankers Association. (Wed, 18 Jul 2007 12:01:29 GMT)

JPMorgan profits hurt by home equity loans
JPMorgan Chase & Co. said on Wednesday it tripled the amount it set aside for loan losses as home equity borrowers missed payments, hurting the bank's second-quarter net income growth. (Wed, 18 Jul 2007 12:22:08 GMT)

J.D. Power and Associates Reports: Wachovia Ranks Highest in Customer Satisfaction with Home Equity Line/Loan ...
WESTLAKE VILLAGE, Calif., July 18 /PRNewswire/ -- For a second consecutive year, Wachovia ( Nachrichten ) ranks highest in satisfying customers who recently obtained a home equity loan or line of credit, according to the J.D. Power and Associates 2007 Home Equity Line/Loan Origination Study(SM) released today. (Wed, 18 Jul 2007 13:23:31 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? (Wed, 18 Jul 2007 13:25:25 GMT)

Mortgage applications rise as more seek to refinance
U.S. mortgage applications rose slightly last week as a jump in refinancing demand overshadowed a drop in demand for loans to buy houses, an industry group said Wednesday. (Wed, 18 Jul 2007 13:28:44 GMT)

Home loans squeeze
HOME loan borrowers would have to save a 20 per cent deposit under a proposal being floated by a federal parliamentary committee. (Wed, 18 Jul 2007 14:00:00 GMT)

Mortgage Applications Rise
Applications for U.S. home loans rose slightly last week, 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 0.9 percent on a seasonally adjusted basis, with an increase in applications for new home loans and for refinancings of existing mortgages. (Wed, 18 Jul 2007 14:13:47 GMT)

(AFX UK Focus) 2007-07-18 15:29 GMT: Mortgage applications rise
WASHINGTON (AP) - Applications for U.S. home loans rose slightly last week, an industry group said Wednesday. (Wed, 18 Jul 2007 14:34:01 GMT)

Wall Street - not the Fed - keeps subprime in line
Despite government calls for tougher regulation in the subprime mortgage market, brokers and lenders don't seem to be getting their guidance from Washington. Instead, they're turning to Wall Street. (Wed, 18 Jul 2007 15:01:39 GMT)

Bernanke Says Fed Will Write New Mortgage Rules (Update1)
July 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke told Congress the central bank will propose new mortgage-lending regulations to strengthen consumer protections, responding to lawmakers' pressure to address the subprime mortgage crisis. (Wed, 18 Jul 2007 15:10:54 GMT)

Emerging-Market Bonds Fall on Revived Subprime Mortgage Concern
July 18 (Bloomberg) -- Emerging-market bonds fell after Bear Stearns Cos. told investors in its failed hedge funds they will get little if any money back, reviving concern that losses on U.S. subprime mortgage-backed securities may widen. (Wed, 18 Jul 2007 15:28:31 GMT)

Southland home sales back to basics
This story appeared in the Antelope Valley Press on Wednesday, July 18, 2007. LA JOLLA - Southland home sales, while still slow, are back on a meat-and-potatoes track as the market sheds risky loan activity in an otherwise strong economy. (Wed, 18 Jul 2007 16:04:10 GMT)

Sector Snap: Mortgage REITs Down
Shares of mortgage real estate investment trusts declined Wednesday, a day after Bear Stearns Cos. said two of its hedge funds are nearly worthless due to the meltdown in the subprime mortgage market. (Wed, 18 Jul 2007 17:14:03 GMT)

JPMorgan profit hurt by home equity loans
JPMorgan Chase & Co. said on Wednesday it tripled the amount set aside for loan losses as even borrowers with good credit defaulted on home equity loans, hurting the bank's quarterly profit. (Wed, 18 Jul 2007 17:30:54 GMT)

US weekly mortgage applications rise 0.9%
NEW YORK, July 18 (newratings.com) - US mortgage applications witnessed a marginal 0.9% increase last week, on a week-to-week basis, according to data published on Wednesday by the Mortgage Bankers Association. (Wed, 18 Jul 2007 17:57:46 GMT)

U.S. Stocks Retreat on Earnings, Mortgage Concerns; Intel Falls
July 18 (Bloomberg) -- U.S. stocks fell after Intel Corp.'s earnings report spurred concern profit estimates for computer companies are too high and Bear Stearns Cos. said the subprime mortgage crisis wiped out investors in two of its hedge funds. (Wed, 18 Jul 2007 18:10:46 GMT)

Mortgage Loan Restitution
Mississippi Attorney General Jim Hood is working to inform Mississippians of a mortgage loan scam. (Wed, 18 Jul 2007 18:29:34 GMT)

Fed Plans to Tighten Mortgage Rules
Federal Reserve Chairman Ben Bernanke told lawmakers Wednesday that the central bank plans to propose new consumer protection rules this year to crack down on mortgage-lending abuses. (Wed, 18 Jul 2007 19:17:14 GMT)

CIT Exits Mortgage Business, Shares Fall
Shares of CIT Group Inc. dropped Wednesday, adding to a stream of disappointments after the lender announced a second-quarter loss, lowered its outlook for the second half of the year, and said it was shedding its mortgage unit. (Wed, 18 Jul 2007 19:32:36 GMT)

Finance, Accounting and Consultancy
The subprime mortgage market consists of loans to borrowers with high credit risk, and the mechanisms that have evolved to originate, service, and finance those loans. (Wed, 18 Jul 2007 20:28:54 GMT)

Moody's Shut Out of Rating Commercial Mortgage Bonds (Update1)
July 18 (Bloomberg) -- Moody's Investors Service has been excluded from rating 70 percent of new commercial mortgage-backed securities after toughening its guidelines. (Wed, 18 Jul 2007 20:40:44 GMT)

Mortgage, oil worries drag on market
Stock prices retreated today, as crude oil climbed above $75 per barrel and fresh worries fell on the home mortgage market. (Wed, 18 Jul 2007 20:52:43 GMT)

Emerging-Market Bonds Fall on Revived Subprime Mortgage Concern
July 18 (Bloomberg) -- Emerging-market bonds fell after Bear Stearns Cos. told investors in its failed hedge funds they will get little if any money back, reviving concern that losses on U.S. subprime mortgage-backed securities may widen. (Wed, 18 Jul 2007 20:58:31 GMT)

Fed Plans to Tighten Mortgage Rules
Federal Reserve Chairman Ben Bernanke told lawmakers Wednesday that the central bank plans to propose new consumer protection rules this year to crack down on mortgage-lending abuses. (Wed, 18 Jul 2007 21:19:24 GMT)

Washington Mutual Net Rises as Mortgage Loss Eases (Update1)
July 18 (Bloomberg) -- Washington Mutual Inc., the biggest U.S. savings and loan, said second-quarter profit rose 8.2 percent as losses on mortgage lending narrowed and expenses fell. (Wed, 18 Jul 2007 21:55:44 GMT)

Mortgage Crisis Roughs up IndyMac
The mortgage lender, which provides "Alt-A" loans, suffers as the mortgage crisis spreads (Wed, 18 Jul 2007 22:52:10 GMT)

Economy - Wednesday
U.S. mortgage applications rise (Wed, 18 Jul 2007 23:00:00 GMT)

JPMorgan Profit Up 20%; Shares Fall on Loan Worries
Profits were buoyed by investment banking fees, but the bank said it had set aside more money for possible losses in it?s loan business, though said this wasn?t due to subprime lending difficulties. (Thu, 19 Jul 2007 00:40:45 GMT)

In the US the subprime sky is falling ... here too?
Slowly but surely a credit crunch is creeping up on us, driven by the spiralling collapse of the subprime mortgage market and associated credit derivatives in the US. (Thu, 19 Jul 2007 03:08:03 GMT)

Mortgage Delinquencies
Mortgage delinquencies continued to climb in the second quarter, new data show. (Thu, 19 Jul 2007 03:37:49 GMT)

Business buzz: Bushby becomes mortgage planner with Jacinto
Tanner Bushby is doing mortgage loans for residential, commercial purchases and refinancing at Jacinto Mortgage Group Inc. (Thu, 19 Jul 2007 07:07:50 GMT)

Fed to crack down on mortgage lending
Federal Reserve Chairman Ben Bernanke told lawmakers Wednesday that the central bank plans to propose new consumer protection rules this year to fight mortgage-lending abuses. (Thu, 19 Jul 2007 09:33:53 GMT)

Mortgage lending growth eased in June
Underlying net mortgage lending growth eased in June, figures from banks and building societies showed on Thursday, suggesting higher borrowing costs may be starting to cool demand in the housing market. (Thu, 19 Jul 2007 09:41:00 GMT)

Mortgage problems? The longer you hide, the worse they'll get
Troubles in mortgageland may get worse before they get better, especially for subprime borrowers, whose spotty credit histories put them into more costly loans. (Thu, 19 Jul 2007 09:50:24 GMT)

Syron, Chanos, Faber Say More Losses Coming in Subprime Bonds
July 19 (Bloomberg) -- The worst is yet to come for mortgage bonds as more holders are forced to sell the securities in a falling market, Freddie Mac Chief Executive Officer Richard Syron and investors James Chanos and Marc Faber said. (Thu, 19 Jul 2007 09:59:47 GMT)

Mortgage rates rise modestly
Fixed mortgage rates rose slightly this week, despit discouraging words from the chairman of the Federal Reserve. (Thu, 19 Jul 2007 10:00:00 GMT)

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