Mortgage News Aug 2007

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DIB offers refinance product
The Dubai Islamic Bank has launched the shariah compliant Al Islami Home Refinance product which enables customers to channel the equity gained on their property into another asset. (Sun, 05 Aug 2007 11:06:11 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Sun, 05 Aug 2007 12:52:36 GMT)

Auto Loan Refinance = Lower Payments
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Sun, 05 Aug 2007 12:52:46 GMT)

Loan merry-go-round in the distressed 'burbs
In the murky world of defaulting home loans, serial refinancings and multiple repossession actions, Double Bay law firm RL Kremnizer & Co is a frequent presence on the writs-for-possession court lists. (Sun, 05 Aug 2007 13:50:18 GMT)

Wall St Week Ahead: Mortgage stress to spur more volatility
(Repeats column initially transmitted late Friday; updates with paragraph about expectations for an October rate cut) By Caroline Valetkevitch NEW YORK, Aug 5 (Reuters) - More signs of weakness in the mortgage market, another surge in oil prices and a Federal Reserve rate decision could create more turbulence for Wall ... (Sun, 05 Aug 2007 15:07:51 GMT)

Fed seen standing firm as mortgage pain worsens
The Federal Reserve is widely expected to keep US interest rates on hold at its meeting Tuesday despite increasing angst about America's troubled housing and mortgage markets, economists say. (Sun, 05 Aug 2007 16:17:19 GMT)

Mortgage stress to spur more stock volatility
More signs of weakness in the mortgage market, another surge in oil prices and a Federal Reserve rate decision could create more turbulence for Wall Street this week. (Sun, 05 Aug 2007 16:42:18 GMT)

Loan options in the interest whirlpool
It is difficult for middle-class society to come to terms with the increasing home loan interest rates. Harsh Roongta gives us some insight on how to deal with the volatile dealings. (Sun, 05 Aug 2007 20:25:59 GMT)

Fed seen standing firm as mortgage pain worsens
The Federal Reserve is widely expected to keep US interest rates on hold at its meeting Tuesday despite increasing angst about America's troubled housing and mortgage markets, economists say. (Sun, 05 Aug 2007 22:40:58 GMT)

Japan Stocks May Drop on U.S. Mortgage Loss, Economy Concern
Aug. 6 (Bloomberg) -- Japanese stocks may decline, led by exporters such as Sony Corp., on concern losses in the U.S. mortgage market may slow the world's biggest economy. (Sun, 05 Aug 2007 23:34:57 GMT)

Shot banker may have been victim of city loan sharks
A BANKER shot dead on the doorstep of his family home owed £50,000 to loan sharks, it was revealed yesterday. (Mon, 06 Aug 2007 00:20:40 GMT)

Housing Market to Weaken Even Further As Mortgage Industry Takes Cure
The home-mortgage industry is finally swearing off high-risk loans to people with bad credit, after years of lax lending. But this is creating a vicious circle that will make the housing market even weaker in the near term. (Mon, 06 Aug 2007 00:51:51 GMT)

Turmoil unnerves mortgage lenders
Wake-up call! If you're ready to buy or refinance a home, the turmoil on Wall Street may be further hurting your chances of getting a loan. (Mon, 06 Aug 2007 01:41:35 GMT)

UPDATE: Mortgage Borrowers In Turmoil As Lenders Cut Off Riskier Loans
CHICAGO (Dow Jones) -- Some nontraditional mortgage loans have vanished from lenders' menus, while others have gotten more expensive during an eventful week for those in the mortgage industry. (Mon, 06 Aug 2007 02:17:12 GMT)

Mortgage Maze May Increase Foreclosures
The increasingly complex design of mortgage securities is confounding homeowners struggling to avoid defaulting on their loans. (Mon, 06 Aug 2007 02:24:38 GMT)

The subprime mortgage mess keeps wreaking havoc
The toll of companies caught up in the subprime mortgage mess continues with two more German financial institutions hit late last week and the huge French-owned Axa insurance group, which operates here, revealing a $1.2 billion bailout of two bond funds. (Mon, 06 Aug 2007 03:05:18 GMT)

DIB launches Al Islami Home Refinance product
DUBAI — Dubai Islamic Bank (DIB) has announced the launch of its new Al Islami Home Refinance product that allows customers to convert the equity gain in their property into another asset. (Mon, 06 Aug 2007 03:07:16 GMT)

Giant lenders participate in Portland's mortgage fray
Whereas Chase only operates retail banking branches in 17 states, it oversees mortgage lending offices in all 50. (Mon, 06 Aug 2007 04:06:40 GMT)

Mortgage giant's collapse raises broader questions
The collapse of Melville, N.Y.-based American Home Mortgage Investment Corp. has revived local concerns about what the future holds for independent mortgage companies. (Mon, 06 Aug 2007 04:07:00 GMT)

No regrets for Thompson despite mortgage jitters
Despite an increase in nonperforming consumer mortgage loans, primarily in California, and a sagging stock price, Wachovia Corp. executives say they have no regrets about the purchase of Golden West Financial Corp. (Mon, 06 Aug 2007 04:07:41 GMT)

Mortgage clampdown to change exotics, probably subprimes
Major mortgage buyers Fannie Mae and Freddie Mac said they will only buy exotic mortgages processed under stricter new underwriting and disclosure rules. (Mon, 06 Aug 2007 04:10:02 GMT)

The common household faces worst financial nightmare – crashing home prices and free falling equity prices – how do you ...
In recent days the common household is losing badly. The equity prices are collapsing after the bubbles in leveraged mergers and acquisition, mortgage refinancing, and real estate has busted. (Mon, 06 Aug 2007 05:41:55 GMT)

No cash? No home loans for many.
WASHINGTON -- Home buyers again need their own money to close a deal. (Mon, 06 Aug 2007 06:26:18 GMT)

Zero-down mortgage? Big lenders saying no
Homebuyers again need their own money to close a deal. Lenders faced with growing piles of bad loans have clamped down on the no-money-down mortgage. (Mon, 06 Aug 2007 07:24:43 GMT)

Mortgage Insurer MGIC and Locked Out Borrowers
Michael Shedlock submits: Bankrate.com is reporting Subprime lenders yank most popular loan type: Lenders have abruptly stopped offering the most popular type of subprime mortgage. (Mon, 06 Aug 2007 10:04:35 GMT)

Mortgage mess? Look to fine print
Don't ask, don't tell. That was the unspoken motto of the mortgage mess that has now escalated out of control. Home buyers didn't ask questions because they wanted the house or the home-equity loan. (Mon, 06 Aug 2007 10:16:14 GMT)

E-LOAN Announces Individual Tenancy-in-Common Financing
PLEASANTON, Calif.----E-LOAN®, an online consumer financial services company, today announced the launch of its individual Tenancy-In-Common financing to help those consumers living in high rent markets more fully participate in the American Dream. (Mon, 06 Aug 2007 11:00:00 GMT)

American Home Mortgage Files for Bankruptcy After Shut Down
Aug. 6 (Bloomberg) -- American Home Mortgage Investment Corp. became the second-biggest residential lender to file for bankruptcy protection this year, adding to signs that late payments have spread to homeowners with good credit records. (Mon, 06 Aug 2007 11:29:47 GMT)

MHI Hospitality Corporation Announces Refinancing of Hilton Savannah DeSoto Hotel
WILLIAMSBURG, Va. | MHI Hospitality Corporation (AMEX:MDH) announced today that through its subsidiary, Savannah Hotel Associates, L.L.C., the Company has entered into and closed a $23 million, 10-year mortgage refinancing with MONY Life Insurance Company of the existing note and security deed on the Hilton Savannah DeSoto. (Mon, 06 Aug 2007 11:31:27 GMT)

American Home Mortgage files for bankruptcy
American Home Mortgage Investment Corp. filed for Chapter 11 bankruptcy protection on Monday, completing a rapid descent for a large U.S. home loan provider that lent to people considered to be good credit risks. (Mon, 06 Aug 2007 12:01:41 GMT)

American Home Mortgage files for bankruptcy
NEW YORK (Reuters) - American Home Mortgage Investment Corp. filed for Chapter 11 bankruptcy protection on Monday, completing a rapid descent for a large U.S. home loan provider that lent to people considered to be good credit risks. (Mon, 06 Aug 2007 12:01:41 GMT)

American Home Mortgage files for bankruptcy
American Home Mortgage Investment Corp., a large home lender catering to people considered good credit risks, completed its rapid descent on Monday when it filed for Chapter 11 bankruptcy protection. (Mon, 06 Aug 2007 12:29:07 GMT)

American Home Mortgage files for bankruptcy
American Home Mortgage Investment, a large home lender catering to people considered good credit risks, completed its flameout Monday when it filed for Chapter 11 bankruptcy protection. (Mon, 06 Aug 2007 12:51:02 GMT)

Turmoil Unnerves Mortgage Lenders
If you're ready to buy or refinance a home, the turmoil on Wall Street may be further hurting your chances of getting a loan. (Mon, 06 Aug 2007 13:04:06 GMT)

American Home Mortgage files for bankruptcy protection
BOSTON (MarketWatch) -- The subprime meltdown claimed its largest victim Monday as American Home Mortgage Investment Corp. filed for bankruptcy protection, just days after the company laid off almost all employees and closed down most business operations. (Mon, 06 Aug 2007 13:10:31 GMT)

Leading US mortgage firm files for bankruptcy protection
American Home Mortgage Investment Corp., a leading US mortgage company struggling with a persistent slump in the housing market, said Monday it has sought bankruptcy protection. (Mon, 06 Aug 2007 14:42:01 GMT)

American Home Mortgage Files Chapter 11
American Home Mortgage Files for Chapter 11 Bankruptcy Protection (Mon, 06 Aug 2007 15:07:53 GMT)

American Home files for bankruptcy, talks failed
American Home Mortgage Investment Corp. filed for Chapter 11 bankruptcy protection after a tumultuous week in the debt markets brought a once-thriving business to its knees. (Mon, 06 Aug 2007 15:40:13 GMT)

American Home Mortgage files Chapter 11
American Home Mortgage Investment Corp. reported Monday it has filed for Chapter 11 bankruptcy protection. (Mon, 06 Aug 2007 17:37:02 GMT)

American Home Mortgage files for bankruptcy protection
With the company's home loan portfolio rapidly losing value, its financial backers pulled the plug, leading to the company running out of cash.{l} Reagor's real estate blog (Mon, 06 Aug 2007 17:42:47 GMT)

IKB's Subprime Pain Offers European Banks A Path To Gain
Mortgage bailout seen leading government to sell stake in lender to Germany's mid-sized companies. (Mon, 06 Aug 2007 17:55:05 GMT)

Mortgage Defaults Will Rise Into 2008, Friedman Billings Says
Aug. 6 (Bloomberg) -- Mortgage defaults will increase for at least a year as delinquencies spread beyond subprime borrowers to those with better credit, Michael Youngblood, an analyst at Friedman Billings Ramsey Group Inc. (Mon, 06 Aug 2007 18:10:44 GMT)

American Home Mortgage files Chapter 11
American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday, the latest casualty of a mortgage industry that has plunged into distress. (Mon, 06 Aug 2007 18:43:33 GMT)

American Home files for bankruptcy as talks fail
American Home Mortgage Investment Corp. filed for Chapter 11 bankruptcy protection after rising customer defaults and unfriendly credit markets brought the once-thriving lender to its knees. (Mon, 06 Aug 2007 18:52:30 GMT)

BB&T tops rankings as mortgage service provider
BB&T Corp. received the highest customer service satisfaction ranking in the latest survey of mortgage servicing companies by J.D. Power and Associates, according to an announcement from the independent rating agency. (Mon, 06 Aug 2007 19:37:49 GMT)

Units of National City, Cerberus stop offering home loans
SAN FRANCISCO (MarketWatch) - Units of Cerberus Capital Management LP and National City Corp. stopped taking home loan applications on Monday, becoming the latest to be hit by turmoil in the mortgage market. (Mon, 06 Aug 2007 19:40:42 GMT)

Loan options in the interest whirlpool
It is difficult for middle-class society to come to terms with the increasing home loan interest rates. Harsh Roongta gives us some insight on how to deal with the volatile dealings. (Mon, 06 Aug 2007 20:10:59 GMT)

Fannie Mae Asks Regulator to Raise Loan Purchase Cap, WSJ Says
Aug. 6 (Bloomberg) -- Fannie Mae, the largest U.S. home loan company, asked its regulator to raise the maximum amount of home mortgages and related securities the company can hold to help provide more liquidity to the market, the Wall Street Journal reported. (Mon, 06 Aug 2007 20:25:44 GMT)

'Marketplace' Report: American Home Mortgage
American Home Mortgage Investment Corporation filed for Chapter 11 bankruptcy protection Monday. The U.S. home-loan provider was not a sub-prime lender, but focused on medium-risk buyers -- such as immigrants and the self-employed -- who have trouble documenting their incomes. (Mon, 06 Aug 2007 20:36:11 GMT)

National City Suspends Some Home Loans
National City Corp. said Monday that its wholesale home equity unit has stopped taking applications for loans and lines of credit as problems in the mortgage industry continue to spread. (Mon, 06 Aug 2007 21:06:31 GMT)

National City unit suspends home equity loan offers
National City Corp , a large U.S. midwest regional bank, said on Monday its National City Home Equity unit has temporarily suspended offering new home equity loans and lines of credit, citing tighter mortgage market conditions. (Mon, 06 Aug 2007 21:10:59 GMT)

Australia's Home-Loan Approvals Probably Accelerated in June
Aug. 7 (Bloomberg) -- Australia's home-loan approvals probably accelerated in June as declining rental vacancies and buoyant consumer confidence boosted demand for real estate. (Mon, 06 Aug 2007 21:34:25 GMT)

Loan Standards Up As Defaults, Wall St. Hit Banks, Lenders
Mortgage lenders are restricting credit to a wide range of borrowers amid rising home loan defaults, analysts say, a move likely to prolong the housing slump and sap economic growth. (Mon, 06 Aug 2007 23:00:00 GMT)

Loan Standards Up As Defaults, Wall St. Hit Banks, Lenders
Mortgage lenders are restricting credit to a wide range of borrowers amid rising home loan defaults, analysts say, a move likely to prolong the... (Mon, 06 Aug 2007 23:00:00 GMT)

American Home Mortgage files for bankruptcy protection
NEW YORK - American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. (Mon, 06 Aug 2007 23:29:07 GMT)

Luminent explores options amid mortgage turmoil
Turmoil in the mortgage markets snared another victim Monday. (Tue, 07 Aug 2007 00:07:21 GMT)

Federal Home Loan Bank of San Francisco Awards $450,000 in Predevelopment Grants in Arizona, California, and Nevada
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today announced $450,000 in 2007 Access to Housing and Economic Assistance for Development Program grants, $225,000 more than in 2006. (Tue, 07 Aug 2007 00:09:00 GMT)

Fannie Mae Wants Higher Mortgage Cap
Amid growing distress in the mortgage market, home-loan finance giant Fannie Mae is asking federal regulators to raise the limit on the amount of mortgage securities it is allowed to hold as investments. (Tue, 07 Aug 2007 00:44:16 GMT)

American Home Mortgage Seeks Chapter 11 Bankruptcy Protection
The company said it fell victim to ?extraordinary disruptions? in the markets that support the mortgage industry. (Tue, 07 Aug 2007 00:56:13 GMT)

Mortgage crisis ripple effect seen in other sectors
The day-to-day financial dealings of Oneida Limited, the dinnerware and flatware maker, are typically about as far removed from the mortgage loan business as they can be. (Tue, 07 Aug 2007 03:16:15 GMT)

American Home Mortgage files for bankruptcy protection
In filing for bankruptcy protection Monday, American Home Mortgage Investment Corp.'s presented a list of creditors that included virtually all the major names of Wall Street. (Tue, 07 Aug 2007 03:24:32 GMT)

Democrats Campaign on Mortgage and Trade Issues
Two Democratic presidential candidates are moving to tap into the economic anxieties of working Americans. (Tue, 07 Aug 2007 04:16:28 GMT)

Mortgage company files for bankruptcy
NEW YORK -- American Home Mortgage Investment Corp. filed for bankruptcy protection Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. (Tue, 07 Aug 2007 04:24:16 GMT)

Mortgage firm files Chapter 11
NEW YORK – American Home Mortgage Investment Corp. filed for bankruptcy protection Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. ... - By DAN SEYMOUR The Associated Press (Tue, 07 Aug 2007 04:24:48 GMT)

AHM Files for Bankruptcy
As the market for mortgage debt suddenly shrinks, people trying to borrow for home purchases or refinance their existing homes are facing tougher terms and stricter standards - and are much more likely to be turned down than just a few months ago, when the industry was pushing loans even at buyers with bad credit histories. (Tue, 07 Aug 2007 04:37:58 GMT)

Mortgage problems hit Houston
Houston-based mortgage lender stops taking new loans amid signs of tougher days ahead for lenders and homebuyers. (Tue, 07 Aug 2007 06:01:46 GMT)

State mortgage applications up
More Michiganians applied for mortgages this July than last, according to recent industry reports, but not necessarily because they are buying homes. Instead, many are refinancing their mortgages from subprime loans with unstable interest rates to traditional fixed-rate mortgages. (Tue, 07 Aug 2007 06:12:37 GMT)

American Home Mortgage files for bankruptcy protection
NEW YORK — American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. (Tue, 07 Aug 2007 07:22:01 GMT)

Big mortgage cos. in financial trouble
NEW YORK -- American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening.American Home Mortgage, based in Melville, N.Y., and once the nation's 10th largest mortgage lender, said it fell victim to "extraordinary disruptions" that ... (Tue, 07 Aug 2007 08:08:23 GMT)

Fed seen holding rates steady as mortgage pain deepens
The Federal Reserve is widely expected to keep US interest rates on hold at its meeting Tuesday despite increasing concerns about America's troubled housing and mortgage markets, economists say. (Tue, 07 Aug 2007 08:10:46 GMT)

Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Tue, 07 Aug 2007 08:19:03 GMT)

Small businesses stung by mortgage crisis
Turmoil in the mortgage markets is catching a growing number of borrowers in a vise, roiling stock and bond markets, and threatening an important source of capital for small businesses. (Tue, 07 Aug 2007 08:39:45 GMT)

American Home Mortgage files for bankruptcy protection
American Home Mortgage Investment Corp. has filed for bankruptcy, becoming the second-biggest residential lender in the United States to close down this year. (Tue, 07 Aug 2007 09:21:17 GMT)

07-08-2007: ING Insurance extends free moving cost offer for home loan scheme
KUALA LUMPUR: ING Insurance Bhd has extended the free moving cost offer in its 5.99% Fixed Rate for Life! home loan scheme until the end of this month to enable more Malaysians to save on their home mortgage. (Tue, 07 Aug 2007 09:39:13 GMT)

Mortgage crisis takes toll on dollar
The dollar fell to near a record low versus the euro Monday on concern that subprime mortgage losses would slow the economy and prompt the Federal Reserve to cut interest rates. (Tue, 07 Aug 2007 09:57:02 GMT)

Mortgage firm seeks bankruptcy protection
American Home Mortgage Investment Corp. filed for bankruptcy protection yesterday, and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. (Tue, 07 Aug 2007 10:07:20 GMT)

American Home Mortgage Latest To File For Bankruptcy As Loan Funding Dries Up
New York — American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. (Tue, 07 Aug 2007 10:27:48 GMT)

Luminent Mortgage Capital: Another MREIT Bites the Dust?
Rick Dean submits: It was just a few weeks ago that American Home Mortgage , the nation's tenth largest mortgage lender, assured investors its .70 cent quarterly divided was safe and the company's future was secure, despite a withering credit crunch precipitated by rising defaults among residential home buyers. (Tue, 07 Aug 2007 11:29:36 GMT)

Federal Home Loan Bank of Atlanta Awards $4.2 Million for Affordable Housing in Florida
Federal Home Loan Bank of Atlanta will award $4.2 million in Affordable Housing Program grants and subsidies to help fund 355 single-family and multifamily housing units affordable to lower-income residents in communities throughout Florida. (Tue, 07 Aug 2007 13:13:00 GMT)

Impac Mortgage Holdings, Inc. Provides Strategic Update on Current Market Conditions
Joseph R. Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. , or the "Company," a Maryland corporation, being taxed as a real estate investment trust , announces the following response to current market conditions: (Tue, 07 Aug 2007 13:15:00 GMT)

Mortgage woes hit home
Houston-based Aegis Mortgage Corp. said it would not accept any more applications and said it could not meet all of its existing funding obligations, a sign that the worst housing crunch in decades could be widening. (Tue, 07 Aug 2007 13:41:51 GMT)

Fed seen holding rates steady as mortgage pain deepens
The Federal Reserve is widely expected to keep US interest rates on hold at its meeting Tuesday despite increasing concerns about America's troubled housing and mortgage markets, economists say. (Tue, 07 Aug 2007 13:50:13 GMT)

American Home Mortgage files for bankruptcy protection
NEW YORK -- American Home Mortgage Investment Corp. filed for bankruptcy protection yesterday, and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. (Tue, 07 Aug 2007 15:01:29 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, 07 Aug 2007 15:02:22 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, 07 Aug 2007 15:02:32 GMT)

Fed seen keeping rates on hold despite mortgage woes
The Federal Reserve is expected to keep US interest rates on hold Tuesday following a meeting of top policymakers despite increasing concerns about the health of the multitrillion-dollar mortgage market. (Tue, 07 Aug 2007 16:42:04 GMT)

M2 Lending Solutions Offers Refinancing Option for Homeowners with Sub-prime Mortgages
DENVER----M2 Lending Solutions, a Colorado-based home mortgage broker, announced its 30 Year Home Saver Loan program is now available in Oregon. (Tue, 07 Aug 2007 16:45:00 GMT)

Clinton proposes mortgage market crackdown
Democratic presidential front-runner Hillary Rodham Clinton on Tuesday called for penalties against mortgage brokers who engage in predatory lending and a $1 billion federal fund to help homeowners avoid foreclosure. (Tue, 07 Aug 2007 16:48:39 GMT)

Clinton proposes crackdown in mortgage market
WASHINGTON (Reuters) - With the U.S. mortgage market in turmoil, Democratic presidential front-runner Sen. Hillary Clinton on Tuesday proposed clamping down on lending abuses and providing more aid to families who face losing their homes. (Tue, 07 Aug 2007 16:49:45 GMT)

HomeBanc bails out of home mortgage lending biz
Unable to borrow on its lines of credit and unable to fund its mortgage loan funding obligations starting Aug. 6, HomeBanc Corp. reported Tuesday it will leave the mortgage loan origination business. (Tue, 07 Aug 2007 17:40:25 GMT)

Clinton proposes $1 billion in mortgage help
WASHINGTON (Reuters) -- Democratic presidential candidate Sen. Hillary Clinton Tuesday proposed clamping down on mortgage lending abuses and providing more aid to families who face losing their homes. (Tue, 07 Aug 2007 18:04:18 GMT)

AHM Mortgage Servicing Unit Downgraded
Credit rating agency First Ratings said Tuesday it downgraded American Home Mortgage Investment Corp.'s servicing subsidiary after it filed for bankruptcy protection. (Tue, 07 Aug 2007 19:04:49 GMT)

Mortgage mess creates bargains
U.S. mortgage roadkill is fresh and ripe for the picking. Countrywide Financial Corp demonstrated that on Tuesday when it announced plans to buy five retail mortgage branches from HomeBanc Corp , which is exiting the business after its stock was delisted last week for trading around 30 cents a share. (Tue, 07 Aug 2007 19:23:28 GMT)

Slowdown Restricts Access to Home Loans
The dream of owning a home is fading away for many Americans with less than stellar credit. On Tuesday HomeBanc Corp. said it will not issue any more loans, and Impac Mortgage Holdings Inc. shut down a type of loan called "alt-A" for people with limited documentation or slight credit issues. (Tue, 07 Aug 2007 19:24:49 GMT)

Federal Home Loan Bank of Boston Announces Second Quarter 2007 Results and Quarterly Dividend
The Federal Home Loan Bank of Boston announced the following unaudited results for the quarter ended June 30, 2007: (Tue, 07 Aug 2007 19:42:00 GMT)

Mortgage mess creates bargains
NEW YORK (Reuters) - U.S. mortgage roadkill is fresh and ripe for the picking. Countrywide Financial Corp demonstrated that on Tuesday when it announced plans to buy five retail mortgage branches from HomeBanc Corp , which is exiting the business after its stock was delisted last week for trading around 30 cents a share. (Tue, 07 Aug 2007 19:51:48 GMT)

Clinton proposes crackdown in mortgage market
With the U.S. mortgage market in turmoil, Democratic presidential front-runner Sen. Hillary Clinton on Tuesday proposed clamping down on lending abuses and providing more aid to families who face losing their homes. (Tue, 07 Aug 2007 20:10:26 GMT)

Loan options in the interest whirlpool
It is difficult for middle-class society to come to terms with the increasing home loan interest rates. Harsh Roongta gives us some insight on how to deal with the volatile dealings. (Tue, 07 Aug 2007 20:10:59 GMT)

Mortgage crisis ripple hits other sectors
The turmoil in the U.S. home mortgage market this summer is beginning to directly affect the fortunes of companies that would not seem the least bit connected with the mortgage industry. (Tue, 07 Aug 2007 21:08:49 GMT)

Mortgage mess spreads, creates bargains
The near collapse of subprime loans has sent aftershocks into the broader mortgage market, pressuring some companies to quit or curtail their lending. (Tue, 07 Aug 2007 23:23:21 GMT)

Democrats call for action on mortgage crisis
Influential Democratic senators on Tuesday called for Fannie Mae (NYSE:FNM) and Freddie Mac, the government-sponsored mortgage companies, to be given a bigger role in efforts to stabilise the troubled US mortgage market. (Tue, 07 Aug 2007 23:36:07 GMT)

Mortgage Insurer?s Deal in Doubt
MILWAUKEE, Aug. 8 (AP) The private-mortgage insurer MGIC Investment said on Tuesday that it did not believe that it had to complete its $4.9 billion purchase of the credit risk manager Radian Group after their joint interest in a mortgage investor became all but worthless. (Wed, 08 Aug 2007 00:56:33 GMT)

German Fund Stops Payouts, Citing Mortgage Market Unease
WestLB Mellon Asset Management suspended redemptions of an asset-backed securities fund amid investor concern about the problems in the subprime mortgage market. (Wed, 08 Aug 2007 00:56:43 GMT)

American Home Mortgage gets bankruptcy court OK
American Home Mortgage Corp got bankruptcy court approval on Tuesday for debtor-in-possession financing to pay salaries and other costs as it shuts most businesses, as well as funding to keep its loan servicing unit temporarily in operation. (Wed, 08 Aug 2007 01:29:26 GMT)

Indianapolis tops 'Forbes' list of most affordable housing markets
If you're not sweating your monthly mortgage payment, chances are you live in one of America's most affordable areas. Homeowners in Indianapolis know what that's like as it tops Forbes list of most affordable housing markets (Wed, 08 Aug 2007 01:52:14 GMT)

Amlak to be founding shareholder of EMRC
DUBAI — Amlak Finance PJSC, the region's leading home finance company, has announced its decision to become a founding shareholder of the Egyptian Mortgage Refinance Company (EMRC) through Amlak Finance & Real Estate Investments (Amlak Egypt). (Wed, 08 Aug 2007 02:51:36 GMT)

Refinance Now to Avoid your ARM rate Increase
(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, 08 Aug 2007 02:53:56 GMT)

Home loans surge as investors return - ABS
OVER 66,700 people took out a home loan during June, the Australian Bureau of Statistics (ABS) said today. (Wed, 08 Aug 2007 03:25:00 GMT)

Amlak Finance to become a founding shareholder of the Egyptian Mortgage Refinance Company
Amlak Finance PJSC, the region's leading home finance company, has announced its decision to become a founding shareholder of the Egyptian Mortgage Refinance Company (EMRC) through Amlak Finance & Real Estate Investments (Amlak Egypt). (Wed, 08 Aug 2007 04:36:13 GMT)

Leading home financier of Dubai partners with Egyptian mortgage firm
Amlak Finance PJSC, Dubai's leading home finance company, has announced its decision to become a founding shareholder of the Egyptian Mortgage Refinance Company (EMRC) through Amlak Finance & Real Estate Investments (Amlak Egypt). (Wed, 08 Aug 2007 06:20:41 GMT)

Patient borrowers can still find good loan deals
The sub-prime meltdown makes the task tougher for creditworthy home buyers, but not impossible. The sub-prime mortgage crisis is wreaking havoc on the normally predictable home lending market, with rates for even the most credit-worthy borrowers swinging wildly from one day -- and one lender -- to the next. Meanwhile, loan companies are dropping like flies, often leaving borrowers in the ... (Wed, 08 Aug 2007 07:22:20 GMT)

Fannie, Freddie Aim to Ease Mortgage-Market Crunch
For Fannie Mae and Freddie Mac, the chronically embattled companies chartered by the government to make homeownership more attainable, the recent upheaval in the mortgage market presents financial and political opportunities. (Wed, 08 Aug 2007 07:35:29 GMT)

Mortgage firms tighten home loan requirements
A sign advertises a bank-repossessed home for sale Sunday in San Clemente, Calif. NEW YORK (AP) -- The dream of owning a home is fading away for many Americans with less than stellar credit. (Wed, 08 Aug 2007 08:26:04 GMT)

Luminent Mortgage Hit Hard by Margin Calls
Luminent Mortgage Capital said it is considering "a full range of strategic alternatives" as shares lost more than three-quarters of their value after the company warned that it was facing a liquidity crunch amid a high number of margin calls. (Wed, 08 Aug 2007 08:55:08 GMT)

Refinance Now to Avoid your ARM rate Increase
(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, 08 Aug 2007 09:38:06 GMT)

Credit scores must be stellar to get home loan
The dream of owning a home is fading away for many Americans with less than stellar credit. HomeBanc Corp. will not issue any more loans, and Impac Mortgage Holdings Inc. has shut down "alt-A" loans. (Wed, 08 Aug 2007 09:49:02 GMT)

Mortgage applications up 8.1% last week: MBA
CHICAGO (MarketWatch) -- The volume of mortgage applications increased a seasonally adjusted 8.1% on a week-to-week as interest rates on home loans fell, the Mortgage Bankers Association said Wednesday. (Wed, 08 Aug 2007 11:10:41 GMT)

Survey ranks M&T Mortgage in second place
A national customer satisfaction survey ranked M&T Mortgage second in the country for loan servicing, but also found mortgage lenders overall are tightening the reins on customers who pay bills late. (Wed, 08 Aug 2007 11:11:24 GMT)

Home loan demand surges as interest rates dive
U.S. mortgage applications rose for the first time in three weeks as interest rates fell sharply and demand surged for home purchase and refinance loans, an industry group said on Wednesday. (Wed, 08 Aug 2007 11:18:16 GMT)

Mortgage demand jumps, bankers say
Mortgage Bankers Association says applications rose for first time in 3 weeks on lower interest rates. (Wed, 08 Aug 2007 11:31:39 GMT)

Home loan demand surges as interest rates dive
NEW YORK (Reuters) - U.S. mortgage applications rose for the first time in three weeks as interest rates fell sharply and demand surged for home purchase and refinance loans, an industry group said on Wednesday. (Wed, 08 Aug 2007 11:34:56 GMT)

Home loan demand surges as interest rates drop
Mortgage applications rose for the first time in three weeks as interest rates fell sharply and demand surged for home purchase and refinance loans, an industry group said Wednesday. (Wed, 08 Aug 2007 11:56:17 GMT)

Dems campaign on mortgage, trade
Two Democratic presidential candidates, Senator Hillary Rodham Clinton and former Senator John Edwards, are moving to tap into the economic anxieties of working Americans by introducing proposals to deal with the home-loan crisis and the flood of imports from overseas. (Wed, 08 Aug 2007 12:03:34 GMT)

U.S. MBA's Mortgage Applications Index Rose 8.1% Last Week
Aug. 8 (Bloomberg) -- Mortgage applications in the U.S. rose last week by the most since January, as cheaper borrowing costs encouraged more Americans to seek loans for home purchases and refinancing. (Wed, 08 Aug 2007 12:10:34 GMT)

Refinance Now to Avoid your ARM rate Increase
(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, 08 Aug 2007 13:25:07 GMT)

Impac Mortgage Holdings, Inc Provides Response to Recent Analyst Reports
IRVINE, Calif., Aug. 8 /PRNewswire-FirstCall/ -- Joseph R. Tomkinson, Chairman and CEO of Impac Mortgage Holdings, ( Nachrichten ) Inc. , or the "Company," a Maryland corporation, being taxed as a real estate investment trust ("REIT"), announces the following response to recent UBS analyst reports: (Wed, 08 Aug 2007 13:28:18 GMT)

Mortgage applications up
The number of mortgage applications in the United States rose last week, spurred by lower interest rates, the Mortgage Bankers Association said Wednesday. (Wed, 08 Aug 2007 13:49:38 GMT)

Mortgage applications up
The number of mortgage applications in the United States rose last week, spurred by lower interest rates, the Mortgage Bankers Association said Wednesday. The Market Composite Index, which measures mortgage loan application volume, was 656.5, an increase ... (Wed, 08 Aug 2007 13:53:13 GMT)

Mortgage applications up
The number of mortgage applications in the United States rose last week, spurred by lower interest rates, the Mortgage Bankers Association said Wednesday.The Market Composite Index, which measures mortgage loan application volume, was 656.5, an increase of 8.1 percent on a seasonally adjusted basis from 607.1 a week earlier, the association said in a news release. The average interest rate for ... (Wed, 08 Aug 2007 14:04:25 GMT)

Mortgage Applications Rise
Applications for U.S. home loans rose last week -- despite the industry's turmoil -- as the cost of a conventional 30-year fixed rate mortgage dropped. (Wed, 08 Aug 2007 15:34:31 GMT)

Home loan demand surges in week as rates fall
U.S. mortgage applications rose for the first time in three weeks as a drop in interest rates fueled a surge in demand for home purchase and refinance loans, an industry group said on Wednesday. (Wed, 08 Aug 2007 15:59:32 GMT)

Mortgage applications rise despite market's problems
WASHINGTON Applications for U.S. home loans rose last week despite the industry's turmoil as the cost of a conventional 30-year fixed rate mortgage dropped. The Mortgage Bankers Association said its weekly mortgage index, which measures the volume of applications for loans to buy or refinance homes, rose 8.1 percent on a seasonally adjusted basis from a week earlier. In the first increase after ... (Wed, 08 Aug 2007 16:12:24 GMT)

Luminent Mortgage gets default notices from pair of lenders
SAN FRANCISCO (MarketWatch) -- Luminent Mortgage Capital Inc. said on Wednesday that it got default notices from two of its lenders, the latest piece of bad news for a mortgage investment company that's been pummeled of late by turmoil in the home loan market. (Wed, 08 Aug 2007 17:25:21 GMT)

`Mortgage Disruptions' Will Deepen U.S. Housing Slump (Update3)
Aug. 8 (Bloomberg) -- U.S. home sales will tumble to a five-year low this year as the widening credit crunch reduces the number of buyers who can get mortgages, the National Association of Realtors said today. (Wed, 08 Aug 2007 17:40:36 GMT)

Luminent Mortgage Capital Says Two Lenders Sent Default Notices
Aug. 8 (Bloomberg) -- Luminent Mortgage Capital Inc., the mortgage investment company that canceled its dividend after bankers demanded more collateral, received default notices from two unnamed ``repo lenders.'' (Wed, 08 Aug 2007 17:44:47 GMT)

BofA launches mortgage with insurance feature
Bank of America Corp. has launched a mortgage program exclusively for police officers, firefighters, teachers and medical workers. (Wed, 08 Aug 2007 18:12:20 GMT)

BofA offers mortgage with insurance feature
Bank of America Corp. has started a mortgage program exclusively for police officers, firefighters, teachers and medical workers. (Wed, 08 Aug 2007 18:12:37 GMT)

Delta Financial slumps after mortgage lender postpones results
SAN FRANCISCO (MarketWatch) -- Delta Financial Corp. said on Wednesday that it has postponed its second-quarter earnings report, pushing the mortgage lender's shares down 34%. (Wed, 08 Aug 2007 18:25:21 GMT)

Impac Says It Expects to Weather U.S. Mortgage Slump (Update1)
Aug. 8 (Bloomberg) -- Impac Mortgage Holdings Inc., the mortgage provider that stopped making so-called Alt-A loans yesterday, said it expects to weather a slump in demand that has pushed at least a dozen rivals into bankruptcy. (Wed, 08 Aug 2007 18:59:47 GMT)

The Federal Home Loan Banks of Dallas and Chicago Announce Preliminary Discussions of Combining Business Operations
The Federal Home Loan Banks of Chicago and Dallas jointly announced today that they are engaged in discussions aimed at evaluating the benefits and feasibility of combining the business operations of the two institutions. (Wed, 08 Aug 2007 19:01:00 GMT)

Luminent Mortgage Says Lenders Sent Default Notices (Update1)
Aug. 8 (Bloomberg) -- Luminent Mortgage Capital Inc., the mortgage investment company that canceled its dividend after bankers demanded more collateral, received default notices from two unnamed lenders. (Wed, 08 Aug 2007 19:29:47 GMT)

Federal Home Loans Banks Consider Merger
The Federal Home Loan Banks of Chicago and Dallas are in discussions to merge their business operations, the banks said Wednesday. (Wed, 08 Aug 2007 20:01:55 GMT)

Five Mortgage REITs Said at Risk
A research report released Wednesday fingers five mortgage real estate investment trusts that could fall prey to the liquidity crisis currently squeezing the credit markets. (Wed, 08 Aug 2007 20:20:14 GMT)

Impac Says It Expects to Weather U.S. Mortgage Slump (Update2)
Aug. 8 (Bloomberg) -- Impac Mortgage Holdings Inc., the mortgage provider that stopped making so-called Alt-A loans yesterday, said it expects to weather a slump in demand that has pushed at least a dozen rivals into bankruptcy. (Wed, 08 Aug 2007 20:30:07 GMT)

Impac Says It Expects to Weather U.S. Mortgage Slump (Update3)
Aug. 8 (Bloomberg) -- Impac Mortgage Holdings Inc., the mortgage provider that stopped making loans to people with good credit who can't document their incomes, said it expects to weather a slump in demand that has pushed at least a dozen rivals into bankruptcy. (Wed, 08 Aug 2007 20:59:57 GMT)

Federal Home Loan Banks of Chicago, Dallas talk merger
WASHINGTON (Reuters) - The Federal Home Loan Banks of Chicago and Dallas announced on Wednesday that they have begun preliminary talks about a possible merger as both banks face challenges turning a profit. (Wed, 08 Aug 2007 21:04:54 GMT)

Luminent Mortgage Says Lenders Sent Default Notices (Update2)
Aug. 8 (Bloomberg) -- Luminent Mortgage Capital Inc., the mortgage investment company that canceled its dividend after bankers demanded more collateral, received default notices from two unnamed lenders. (Wed, 08 Aug 2007 21:14:57 GMT)

Dallas, Chicago home loan banks consider merging
DALLAS (AP) - The Federal Home Loan Banks of Dallas and Chicago today announced they're considering merging their operations. The banks are cooperatives owned by member financial institutions in their areas. (Wed, 08 Aug 2007 21:45:55 GMT)

Top Tips: If your mortgage lender goes under...
American Home Mortgage filed for Chapter 11 bankruptcy protection this week. Mortgage banking company Homebanc announced it will shutter its doors. Other mortgage lenders are also sending out distress signals. (Wed, 08 Aug 2007 21:54:00 GMT)

If your mortgage lender goes under...
American Home Mortgage filed for Chapter 11 bankruptcy protection this week. Mortgage banking company Homebanc announced it will shutter its doors. Other mortgage lenders are also sending out distress signals. Here's what you need to know if your mortgage lender goes out of business. (Wed, 08 Aug 2007 22:01:29 GMT)

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