Mortgage News Sep 2007

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Home Mortgage Disclosure Act Data
Data on home mortgage lending submitted annually by metropolitan-area lenders. The Home Mortgage Disclosure Act (HMDA), enacted by Congress in 1975 and implemented by the Federal Reserve Board's Regulation C, requires lending institutions to report public loan data. (Sat, 08 Sep 2007 19:31:27 GMT)

Study finds minorities often get riskier mortgage loans
LANSING, Mich. -- African-Americans and Latinos in the Lansing area are more likely than white borrowers to end up with high-cost, subprime loans when the buy or refinance homes,... (Sat, 08 Sep 2007 19:36:33 GMT)

New mortgage foreclosures hit record high
WASHINGTON - Homeowners, struggling to deal with sharp increases in their adjustable mortgage payments, got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified. (Sat, 08 Sep 2007 22:30:22 GMT)

Warning on 'mortgage rescue' firms
Homeowners struggling with spiralling mortgage costs have been warned to beware of companies which promise a quick way out of debt but could cost them their houses. (Sat, 08 Sep 2007 23:19:17 GMT)

Slowdown could hurt Pennsylvania mortgage companies
HARRISBURG, Pa. - When the housing market took off in the early part of the decade, so did the number of mortgage brokers and mortgage bankers licensed in Pennsylvania. (Sat, 08 Sep 2007 23:37:20 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, 09 Sep 2007 00:17:31 GMT)

Subprime loan rates increase home loss risk
MASON CITY — A North Iowa man is looking for a way out. (Sun, 09 Sep 2007 05:06:18 GMT)

Home-equity loans quickly drying up
When James Chou's credit-card debt began to spin out of control a few years ago, he turned to a home-equity loan to pay it off. It proved to be a wise choice. Interest rates on home-equity loans are generally lower than on credit cards. What's more, the interest is tax-deductible, unlike credit-card interest. (Sun, 09 Sep 2007 05:43:27 GMT)

EP mortgage firms dispel national gloom
Pam Sparks heard a big thud in July as the number of home mortgage applications seen at her company took a big drop. (Sun, 09 Sep 2007 06:11:47 GMT)

Mortgage rates rise after 2-week decline
WASHINGTON -- After falling for two weeks, rates on 30-year mortgages edged up slightly this week. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.46 percent this week, compared with 6.45 percent last week. (Sun, 09 Sep 2007 07:15:53 GMT)

Despite crackdown, unlicensed mortgage lenders persist
Concerned about mortgage fraud and predatory lending practices, many states have toughened their laws by requiring loan officers or originators to undergo extensive background checks and show proof of professional experience and training. (Sun, 09 Sep 2007 07:16:13 GMT)

Be Wary Of Mortgage Insurance Solicitors
The meltdown among subprime mortgage lenders shows a particularly ugly side of the housing market - the business of selling high-risk financial products to people who might not be that financially savvy. (Sun, 09 Sep 2007 07:20:06 GMT)

Many buyers suddenly find mortgage cash drying up
Lisa Meserole was two weeks away from closing on her new condo when she got a shock: Her lender, American Home Mortgage, was not going to fund her loan -- or for that matter, any loans -- because the company was filing for bankruptcy. (Sun, 09 Sep 2007 08:05:02 GMT)

Bush outlines plans for mortgage woes
FHA Secure is one of president's proposals to help people keep their homes. WASHINGTON – President Bush outlined ways the federal government can help troubled borrowers keep their homes Friday in an effort to address rising foreclosures fueled by the mortgage crisis. (Sun, 09 Sep 2007 08:44:09 GMT)

Mortgage mayhem too fast for law
When Denver real estate attorney Ronald Thompson contacts the Colorado attorney general's office about mortgage fraud or real estate scams, he knows his chances of getting help are slim to none. (Sun, 09 Sep 2007 09:44:04 GMT)

Mortgage debt isn't always a smart plan
African Americans are often the target of financial pitchmen trying to convince them that they should never pay off their mortgages. Instead, the line goes, people should dig deeper into mortgage debt to buy cars, fund their chosen lifestyles or to invest. The suggestion is that paying off your mortgage is akin to being a chump. (Sun, 09 Sep 2007 10:01:41 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, 09 Sep 2007 10:08:16 GMT)

Lawmakers may revise mortgage laws in state
JACKSON -Lawmakers will be asked to revise Mississippi's mortgage laws in the wake of a subprime lending crisis that is leading to a record number of foreclosures across the nation. (Sun, 09 Sep 2007 10:12:47 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. (Sun, 09 Sep 2007 10:50:12 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. (Sun, 09 Sep 2007 10:50:22 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? (Sun, 09 Sep 2007 10:52:46 GMT)

New mortgage foreclosures hit record high
WASHINGTON - Homeowners, struggling to deal with sharp increases in their adjustable mortgage payments, got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified. (Sun, 09 Sep 2007 11:20:29 GMT)

Study finds minorities often get riskier mortgage loans
A study shows blacks and Latinos in the Lansing, Mich., area are more likely than whites to get high-cost, subprime loans when they buy or refinance homes. (Sun, 09 Sep 2007 11:35:11 GMT)

As Mortgage Industry Adjusts to Credit Crunch, So Do Borrowers
Mortgages are complicated, and lending markets are in flux right now, but savvy, well-positioned consumers can still get the loans they need to buy, build or refinance a home. They just need to pay attention to what's going on, says David Reed, a lending veteran based in Texas and co-author of "M... (Sun, 09 Sep 2007 11:51:28 GMT)

Why You Should Refinance Now If You Have an Adjustable Rate Mortgage
(ARA) - If you took out a mortgage on your home between 2002 and 2005, chances are good you ended up going with an adjustable rate mortgage or ARM. Back then, it was just too good of a deal to pass up. (Sun, 09 Sep 2007 11:52:47 GMT)

Slowdown could hurt Pennsylvania mortgage companies
HARRISBURG -- When the housing market took off in the early part of the decade, so did the number of mortgage brokers and mortgage bankers licensed in Pennsylvania. (Sun, 09 Sep 2007 12:46:27 GMT)

Mortgage crisis not over
THE sub-prime mortgage shakeout was not over, with further losses expected to be revealed at the end of this month, says the head of Australia's biggest bank. (Sun, 09 Sep 2007 14:00:00 GMT)

Rates rise triggers drop in home loans
MORE than 63,500 people took out a home loan in July prior to last month's interest rate rise, fewer than those in June. (Sun, 09 Sep 2007 14:00:00 GMT)

Mortgage delinquency rate rises to 5.12 percent
The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 5.12 percent of all loans outstanding in the second quarter of 2007 on a seasonally adjusted (SA) basis, up 28 basis points from the first quarter of 2007, and up 73 basis points from one year ago, according to MBA’s National Delinquency Survey. (Sun, 09 Sep 2007 14:23:05 GMT)

Sub-prime mortgage alarm
THE U.S. sub-prime mortgage shakeout is not over, with further losses expected to be revealed at the end of this month, says the head of Australia's biggest bank. (Sun, 09 Sep 2007 14:23:23 GMT)

Foreclosure 'Tax' Is Next Mortgage Crisis
Unless Congress acts quickly, millions will be taxed on 'forgiven' mortgage debt. (Sun, 09 Sep 2007 15:57:59 GMT)

Why You Should Refinance Now If You Have an Adjustable Rate Mortgage
(ARA) - If you took out a mortgage on your home between 2002 and 2005, chances are good you ended up going with an adjustable rate mortgage or ARM. Back then, it was just too good of a deal to pass up. (Sun, 09 Sep 2007 16:34:50 GMT)

Mortgage crisis hits home
A year ago, Cheryl Trueblood and her family were trapped in the mortgage crisis that is still gripping thousands of homeowners in North County and millions nationwide. (Sun, 09 Sep 2007 17:08:08 GMT)

2nd man pleads guilty in alleged mortgage fraud scheme
MINNEAPOLIS -- A 27-year-old man has pleaded guilty in an alleged mortgage fraud conspiracy that may involve as many as 200 homes and $50 million in losses. Kristopher Robbins, of New Market, admitted Friday that he participated i (Sun, 09 Sep 2007 20:15:50 GMT)

Bond funds could get hit by mortgage mess
Could the housing market’s woes spread to bonds held in mutual funds by millions of ordinary investors? Some experts — and hedge fund investors who have made big bets that the mortgage crisis will worsen — are saying that’s exactly what will happen. (Sun, 09 Sep 2007 22:44:27 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. (Sun, 09 Sep 2007 23:17:21 GMT)

Mortgage lender Countrywide to cut as many as 12,000 jobs
LOS ANGELES — Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry. (Mon, 10 Sep 2007 01:42:55 GMT)

FHA gets green light to lend hand to homeowners
But borrowers will have to meet federal guidelines when refinancing mortgages through new program. (Mon, 10 Sep 2007 01:48:44 GMT)

Australia 'can expect more' sub-prime mortgage fall out
The sub-prime mortgage shakeout was not over, with further losses expected to be revealed at the end of this month, says the head of Australia's biggest bank. (Mon, 10 Sep 2007 02:37:06 GMT)

First-home buyers back
THE number of first homebuyers rose in July ahead of the spring property season though home lending fell given an expected rise in interest rates in August. (Mon, 10 Sep 2007 03:15:00 GMT)

New York, California Metro Home Prices May Fall as Rates Climb
Sept. 10 (Bloomberg) -- Anna Morita, a neuropsychologist in the San Francisco Bay Area with near-perfect credit, was certain she could get the loan of her choice to buy an $880,000 three- bedroom house. (Mon, 10 Sep 2007 04:41:04 GMT)

Brokers plea: Raise limit on home loans
A proposal pending in a U.S. Senate committee that would raise government home-loan limits in California and other high-priced markets could provide a life raft for thousands of East Bay borrowers caught between softening home prices and skyrocketing adjustable-rate mortgages, mortgage brokers say. (Mon, 10 Sep 2007 04:54:26 GMT)

Hundreds of area mortgage industry employees out of a job
When the 140-member Pennsylvania Association of Mortgage Brokers, West Chapter, holds its annual conference Sept. 9-11 in Mars, Butler County, there's a new dimension to the meeting that's not on the formal agenda. (Mon, 10 Sep 2007 04:56:07 GMT)

Getting mortgage for expensive property now costs even more
Soaring jumbo mortgage loan rates are creating concern nationally in the high-end housing market, but aren't impacting Pittsburgh -- at least not at this point. (Mon, 10 Sep 2007 04:56:47 GMT)

Will home mortgage industry woes affect commercial project lending?
David J. Patten , president, Commercial Mortgage Advisors: (Mon, 10 Sep 2007 05:45:25 GMT)

SEC to review role of Moody's, S& P, Fitch credit rating agencies in subprime mortgage mess
Federal regulators said Friday they are reviewing the role credit-rating agencies played in the mortgage market debacle for borrowers with weak credit. (Mon, 10 Sep 2007 06:09:53 GMT)

For some homebuyers, mortgage market woes hit home
As mortgage companies are shaken by changes in the credit markets this summer, some homebuyers in the Lower Hudson Valley are facing rude and sometimes painful surprises. (Mon, 10 Sep 2007 06:47:04 GMT)

California Mortgage Lender Launches its New Free Fast Service to Improve & Rescore Credit
California based Mortgage Company, Securarate.com is taking the lead in helping borrowers having problems refinancing or purchasing a home by due to a low credit score. (Mon, 10 Sep 2007 07:01:00 GMT)

California Mortgage Lender Launches its New Free Fast Service to Improve & Rescore Credit
California based Mortgage Company, Securarate.com is taking the lead in helping borrowers having problems refinancing or purchasing a home by due to a low credit score. (PRWeb Sep 10, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/Q291cC1TaW5nLVN1bW0tSW5zZS1UaGlyLVplcm8= (Mon, 10 Sep 2007 07:15:49 GMT)

Tips for getting a mortgage
Mortgage tips If you're in the market for a home loan: (Mon, 10 Sep 2007 07:20:06 GMT)

New college loan plan likely to aid many students
WASHINGTON - Starting in October, federal student loans will have lower borrowing costs, and many public sector and nonprofit workers will be able to sign up for loan forgiveness as a result of a measure Congress sent to President Bush on Friday. (Mon, 10 Sep 2007 08:34:43 GMT)

Australian Prime Mortgage Arrears Fall on Jobs, Fitch Says
Sept. 10 (Bloomberg) -- Delinquencies on Australian prime mortgages fell in the second quarter as unemployment declined to a 33-year low, according to Fitch Ratings. (Mon, 10 Sep 2007 09:37:20 GMT)

Commercial Bank of Dubai launches its innovative Mortgage Loan Solution
As part of its consistent efforts at offering innovative and customer-driven services, Commercial Bank of Dubai has launched a unique mortgage loan solution in the market. (Mon, 10 Sep 2007 11:06:11 GMT)

Mortgage broker licensing requirements on horizon
On an August day a year ago, Malinda Matus recalled, she was swept away by how fast she could close on her low-documentation home refinance - a 20-minute introduction to the loan terms and then the signing. (Mon, 10 Sep 2007 11:17:15 GMT)

S. Fla. mortgage firms lay off hundreds as home sales fall
The dramatic collapse of the nation's mortgage markets has hit home in South Florida, with almost 800 people losing their jobs in recent months as lenders slash operations. (Mon, 10 Sep 2007 11:18:36 GMT)

Irwin Home Equity Selects Lender E-Source for Guideline Management
VISTA, Calif.----Lender E-Source, which provides loan guidelines and automated loan pricing to mortgage professionals, announced that San Ramon, Calif.-based Irwin Home Equity , a subsidiary of Irwin Union Bank and Trust Company has implemented Lender E-Source's guideline management systems, Loan Library and Electronic Loan Finder , to expedite loan product searches and guideline management. (Mon, 10 Sep 2007 12:30:00 GMT)

Ahead of the Bell: Thornburg Mortgage
A Jefferies & Co. analyst upgraded Thornburg Mortgage Inc. stock Monday, saying the mortgage lender's deals to raise cash will help the company stay alive. (Mon, 10 Sep 2007 12:51:50 GMT)

MLD Mortgage finds gem in subprime mess
The latest incarnation of The Money Store hopes to be a beneficiary of the subprime shakeout by acquiring failed mortgage companies on the cheap. (Mon, 10 Sep 2007 13:05:04 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, 10 Sep 2007 13:40:27 GMT)

Largest S&L sees more home price declines
Washington Mutual I(WM), the largest U.S. savings and loan, may set aside $500 million more than it had previously forecast for loan losses in 2007, amid what Chief Executive Kerry Killinger on Monday called a "near perfect storm" in housing. (Mon, 10 Sep 2007 14:02:51 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, 10 Sep 2007 14:08:16 GMT)

Shave Thousands In Interest Off Your Home Loan
Don't panic about your mortgage, do something to help reduce it. Find out why offsetting could be the answer. (Mon, 10 Sep 2007 14:31:48 GMT)

EP mortgage firms dispel national gloom
Pam Sparks heard a big thud in July as the number of home mortgage applications seen at her company took a big drop. (Mon, 10 Sep 2007 14:33:02 GMT)

Countrywide Cuts Foretell Loss of U.S. Mortgage Jobs (Update1)
Sept. 10 (Bloomberg) -- The worst U.S. housing slump in 16 years may lead mortgage companies to eliminate almost 100,000 jobs, more than double the number already cut this year. (Mon, 10 Sep 2007 15:00:07 GMT)

Mortgage lender in administration
A UK mortgage lender which lent money to people with poor credit histories goes into administration. (Mon, 10 Sep 2007 15:37:57 GMT)

Fitch Affirms 15 & Downgrades 5 Classes from 5 Centex Home Equity Loan Subprime Transactions
NEW YORK----Fitch has taken rating actions on the following Centex Home Equity Loan mortgage pass-through certificates: (Mon, 10 Sep 2007 15:50:00 GMT)

Fitch Affirms 15 & Downgrades 5 Classes from 5 Centex Home Equity Loan Subprime Transactions
::► Fitch Affirms 15 & Downgrades 5 Classes from 5 Centex Home Equity Loan Subprime Transactions◄:: Fitch has taken rating actions on the following Centex Home Equity Loan mortgage pass-through certificates: Centex 2001-B: ... (Mon, 10 Sep 2007 16:09:12 GMT)

Washington Mutual sees more 2007 loan losses
Washington Mutual Inc said today that most U.S. housing markets are weakening, creating a "near perfect storm" that may force the largest U.S. savings and loan to set aside more money for bad loans. (Mon, 10 Sep 2007 16:21:49 GMT)

Mortgage crisis hits home
A year ago, Cheryl Trueblood and her family were trapped in the mortgage crisis that is still gripping thousands of homeowners in North County and millions nationwide. (Mon, 10 Sep 2007 16:53:28 GMT)

U.S. Stocks Drop on Mortgage Concern; WaMu, Countrywide Retreat
Sept. 10 (Bloomberg) -- U.S. stocks fell for a second day, led by mortgage companies and homebuilders, after San Francisco Federal Reserve President Janet Yellen said the U.S. economy is under ``downward pressure'' because of the housing slump. (Mon, 10 Sep 2007 17:25:45 GMT)

New York, California Metro Home Prices May Decline (Update1)
Sept. 10 (Bloomberg) -- Anna Morita, a neuropsychologist in the San Francisco Bay Area with near-perfect credit, was certain she could get the loan of her choice to buy an $880,000 three- bedroom house. (Mon, 10 Sep 2007 17:41:14 GMT)

Schumer Proposes Lifting Mortgage Caps
Sen. Charles Schumer proposed Monday allowing two government-sponsored mortgage giants to take a bigger share of the home loan market to help stabilize the troubled mortgage industry. (Mon, 10 Sep 2007 17:48:32 GMT)

Washington Mutual sees more 2007 loan losses
Washington Mutual Inc said on Monday that most U.S. housing markets are weakening, creating a "near perfect storm" that may force the largest U.S. savings and loan to set aside more money for bad loans. (Mon, 10 Sep 2007 18:21:19 GMT)

Bank execs eye mortgage growth
Charlotte's big banks, Wachovia Corp. and Bank of America Corp., on Monday said they're looking to pick up market share in the mortgage business as other lenders disappear or slim their product offerings. "Wachovia is well-positioned to benefit from the turmoil that exists in today's mortgage market," Wachovia Chief Executive Ken Thompson said at the Lehman Brothers Financial Services conference ... (Mon, 10 Sep 2007 18:53:44 GMT)

Home Unsold, Mortgage Brokers Open Brothel
The downturn in the housing market appears to have driven two N.Y. homeowners to desperate, illegal measures when their property went unsold. Police say the couple, both mortgage brokers, turned their home into a house of prostitution. (Mon, 10 Sep 2007 19:00:03 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Mon, 10 Sep 2007 19:19:53 GMT)

Thornburg May Buy Up to $4 Billion of Discounted Mortgage Bonds
Sept. 10 (Bloomberg) -- Thornburg Mortgage Inc., the home lender that sold $20.5 billion of mortgage bonds at a loss last month to ease a cash shortage, now plans $3 billion to $4 billion of purchases to take advantage of low prices. (Mon, 10 Sep 2007 19:29:47 GMT)

Fitch Downgrades $384.2MM from 1 Soundview Home Equity Loan Trust 2nd Lien Transaction
NEW YORK----Fitch Ratings has taken the following rating actions on Soundview Home Equity Loan Trust asset-backed certificates. Downgrades total $384.2 million. Break Loss percentages and Loss Coverage Ratios for each class, rated B or higher, are included with the rating actions as follows: (Mon, 10 Sep 2007 19:55:00 GMT)

U.S. Stocks Advance on Thornburg's Plan to Buy Mortgage Bonds
Sept. 10 (Bloomberg) -- Bank shares rallied on speculation financing for mortgage lenders won't dry up, sending the Dow Jones Industrial Average to its biggest gain in a week. (Mon, 10 Sep 2007 19:59:47 GMT)

U.S. mortgage companies face sharp job cuts
A high percentage of U.S. real estate loan officers and mortgage brokers may be fired as the market slows amid a credit crunch. (Mon, 10 Sep 2007 20:09:29 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Mon, 10 Sep 2007 20:47:26 GMT)

Sector Glance: Mortgage Lenders Mixed
Shares of mortgage lenders were mixed Monday as Countrywide Financial Corp.'s stock continued to be weighed down on news of job cuts, while other stocks recovered as the broader market wavered before ending the day relatively flat. (Mon, 10 Sep 2007 20:51:57 GMT)

Wachovia CEO: Mortgage Business Is Good
Wachovia Corp. is grabbing more mortgage business as a result of the recent shakeout in the industry, Chief Executive G. Kennedy Thompson said Monday. (Mon, 10 Sep 2007 21:04:10 GMT)

Schumer proposes lifting mortgage caps
WASHINGTON (AP) - Sen. Charles Schumer on Monday proposed two government-sponsored mortgage giants be allowed to increase their role in the home loan market as a stabilizing force for the troubled mortgage industry. (Mon, 10 Sep 2007 21:09:46 GMT)

Schumer Proposes Lifting Mortgage Caps
Sen. Charles Schumer on Monday proposed two government-sponsored mortgage giants be allowed to increase their role in the home loan market as a stabilizing force for the troubled mortgage industry. (Mon, 10 Sep 2007 21:34:52 GMT)

(AFX UK Focus) 2007-09-10 22:10 GMT: Schumer proposes lifting mortgage caps
WASHINGTON (AP) - Sen. Charles Schumer on Monday proposed two government-sponsored mortgage giants be allowed to increase their role in the home loan market as a stabilizing force for the troubled mortgage industry. (Mon, 10 Sep 2007 21:36:49 GMT)

Why You Should Refinance Now If You Have an Adjustable Rate Mortgage
(ARA) - If you took out a mortgage on your home between 2002 and 2005, chances are good you ended up going with an adjustable rate mortgage or ARM. Back then, it was just too good of a deal to pass up. (Mon, 10 Sep 2007 22:08:26 GMT)

Mortgage crisis hits home
A year ago, Cheryl Trueblood and her family were trapped in the mortgage crisis that is still gripping thousands of homeowners in North County and millions nationwide. (Mon, 10 Sep 2007 22:40:08 GMT)

3 Mistakes to Avoid When Applying for a Home Equity Loan by Informa Research Services
CALABASAS, Calif.----A home equity loan can be a great resource to homeowners who need some extra money to do a renovation project, pay for college tuition, or even make a large purchase . (Mon, 10 Sep 2007 23:34:00 GMT)

Is a Home Equity Loan Right For You? by Informa Research Services
CALABASAS, Calif.----One major asset that many homeowners tend to overlook when seeking a way out of a financial hardship is right under their noses... or perhaps more accurately, right over their heads: their home. (Mon, 10 Sep 2007 23:36:00 GMT)

3 Mistakes to Avoid When Applying for a Home Equity Loan by Informa Research Services
1. AVOID being unaware of the differences between a Home Equity Loan and a Home Equity Line of Credit. It is important that you understand the differences between the two types of home equity loans so you will know which one is better for your situation. (Mon, 10 Sep 2007 23:40:22 GMT)

You Can Fix an Adjustable-Rate Mortgage
Question: My adjustable-rate mortgage will be adjusting next month, and it looks like the new rate will be around 8%. What should I do? Is it impossible to refinance into a fixed-rate loan these days, even though I have a good credit score? (Tue, 11 Sep 2007 00:27:30 GMT)

Schumer Mortgage Plan
Senator Charles E. Schumer proposed on Monday that two government-sponsored mortgage giants be allowed to increase their role in the home loan market. (Tue, 11 Sep 2007 01:12:03 GMT)

Australia home-loan approvals underperform
Australia's home-loan approvals fell twice as much as economists forecast in July as expectations of higher interest rates discouraged property investment. (Tue, 11 Sep 2007 02:33:10 GMT)

Mortgage Mess Unleashes Chain Of Lawsuits
When something goes badly on Wall Street, people wind up in court. And the subprime mortgage mess is no exception. (Tue, 11 Sep 2007 03:16:19 GMT)

Foreclosure Crisis Plagues Local Communities
Just three days ago, Mortgage Bankers Association announced that Ohio has twice the national average of homeowners who are 90 days past due on their mortgages or are in foreclosure. (Tue, 11 Sep 2007 03:41:21 GMT)

New CBD mortgage loan offer
Commercial Bank of Dubai has launched a mortgage loan solution that will make home buying more affordable. (Tue, 11 Sep 2007 05:21:01 GMT)

UPDATE 1-ANZ: mortgage rates may rise if squeeze persists
MELBOURNE, Sept 11 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX, Australia's third-biggest lender, said on Tuesday it may have to raise mortgage rates if the higher cost of short-term funding persists. (Tue, 11 Sep 2007 06:09:26 GMT)

Schumer proposes letting Fannie, Freddie ease mortgage crunch
Sen. Charles Schumer yesterday proposed two government-sponsored mortgage giants be allowed to increase their role in the home loan market as a stabilizing force for the troubled mortgage industry. (Tue, 11 Sep 2007 06:44:42 GMT)

Why You Should Refinance Now If You Have an Adjustable Rate Mortgage
(ARA) - If you took out a mortgage on your home between 2002 and 2005, chances are good you ended up going with an adjustable rate mortgage or ARM. Back then, it was just too good of a deal to pass up. (Tue, 11 Sep 2007 07:02:22 GMT)

Valley mortgage delinquencies up
The number of Arizona homeowners falling behind on mortgage payments continued to swing upward in recent months as tighter lending guidelines limited refinancing options. (Tue, 11 Sep 2007 07:41:49 GMT)

Bigger role proposed for 2 mortgage giants
Sen. Charles E. Schumer proposed yesterday that two government-sponsored mortgage giants be allowed to increase their role in the home loan market as a stabilizing force for the troubled mortgage industry. (Tue, 11 Sep 2007 07:51:14 GMT)

Schumer: Expand mortgage program
Washington Sen. Charles Schumer, D-N.Y., proposed Monday allowing two government-sponsored mortgage giants to take a bigger share of the home loan market to help stabilize the troubled mortgage industry. (Tue, 11 Sep 2007 09:04:31 GMT)

Weathering the storm, local mortgage companies brace for job losses, other pitfalls
Mortgage giant Countrywide Financial's plan to cut at least 10,000 jobs nationwide will likely affect three Merced County branches -- but the company isn't saying how many people could lose their jobs locally. (Tue, 11 Sep 2007 09:27:30 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. (Tue, 11 Sep 2007 10:07:56 GMT)

Mortgage market dips as borrowing hits lowest level for three months
The mortgage market showed early signs of slowing down during July, with borrowing falling to its lowest level for three months, figures showed today. (Tue, 11 Sep 2007 11:15:30 GMT)

Mortgage lending dips
The mortgage market has showed early signs of slowing down during July, according to latest figures. (Tue, 11 Sep 2007 11:53:11 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. (Tue, 11 Sep 2007 13:16:36 GMT)

Mortgage brokers say customers couldn't refinance
Some 57 percent of mortgage broker customers with adjustable-rate loans were unable to refinance into a new loan to avoid higher monthly payments in August, a national survey reported on Tuesday. (Tue, 11 Sep 2007 14:35:58 GMT)

Sonnenblick-Eichner Company Arranges $33,000,000 of First Mortgage Financing for Hilton Fort Lee at the George ...
Sonnenblick-Eichner Company announced today that it has arranged $33 million of first mortgage financing for the fee simple interest in the Hilton Fort Lee at the George Washington Bridge, a Three-Star full-service hotel located in Fort Lee, New Jersey. (Tue, 11 Sep 2007 15:00:00 GMT)

Housing Slump Will Extend Into 2008 in Loan Crisis (Update2)
Sept. 11 (Bloomberg) -- The U.S. housing slump will extend into next year as tighter loan standards cut into home sales, the National Association of Realtors said. (Tue, 11 Sep 2007 15:19:31 GMT)

Housing Slump Will Extend Into 2008 in Loan Crisis (Update2)
Sept. 11 (Bloomberg) -- The U.S. housing slump will extend into next year as tighter loan standards cut into home sales, the National Association of Realtors said. (Tue, 11 Sep 2007 15:25:32 GMT)

Luminent Mortgage Repays Credit Line
Real estate investment trust Luminent Mortgage Capital Inc. said Tuesday it has repaid all of its warehouse lines of credit that were used to finance $915.7 million in mortgages. (Tue, 11 Sep 2007 16:15:01 GMT)

Mortgage ads may still be deceiving consumers, FTC says
CHICAGO (MarketWatch) -- Some of the mortgage advertisements currently appearing in Web sites, newspapers, magazines, direct mail and unsolicited email and faxes may be violating federal law, and on Tuesday the Federal Trade Commission said it was sending warning letters to more than 200 advertisers and media outlets informing them of the possible violations. (Tue, 11 Sep 2007 16:35:37 GMT)

FTC: Some mortgage ads may violate law
The Federal Trade Commission has sent warning letters to more than 200 mortgage brokers, lenders and media outlets warning them against running deceptive  mortgage advertisements that may withhold information borrowers need to know the true cost of their home loans. (Tue, 11 Sep 2007 17:06:09 GMT)

Mortgage REIT pays off $1 billion in credit lines
SAN FRANCISCO (MarketWatch) -- Weeks after turning to hedge funds for an infusion of capital, Luminent Mortgage Capital Inc. says it has repaid some $1 billion in warehouse lines of credit. (Tue, 11 Sep 2007 17:34:47 GMT)

Mortgage crisis no surprise to 'Housing Bubble Blog' community
An Arizona blogger built a robust virtual community, and a full-time job, detailing the breakdown in mortgage lending standards. Here's what he can teach other journalists. (Tue, 11 Sep 2007 17:49:29 GMT)

FTC criticizes misleading mortgage ads
The government agency warns more than 200 companies about 'potentially deceptive' mortgage advertising. (Tue, 11 Sep 2007 18:31:39 GMT)

FTC Warns Companies on Mortgage Ads
The Federal Trade Commission has warned more than 200 companies about "potentially deceptive" mortgage advertisements that could give borrowers a false impression of the cost of home loans. (Tue, 11 Sep 2007 19:30:23 GMT)

Fitch downgrades bonds issued on American Home Mortgage loans
Fitch Ratings, one of the three firms that provides securities traders guidance on the likely performance of bonds and other transactions, has downgraded $16.2 million in "scratch and dent" bonds issued based on low-quality and risky loans issued by the defunct Melville-based lender American Home Mortgage. (Tue, 11 Sep 2007 19:31:30 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? (Tue, 11 Sep 2007 20:07:50 GMT)

FTC Warns Companies on Mortgage Ads
The Federal Trade Commission has warned more than 200 companies about "potentially deceptive" mortgage advertisements that could give borrowers a false impression of the cost of home loans. (Tue, 11 Sep 2007 20:42:09 GMT)

H&R Block cuts 575 Option One mortgage jobs
H&R Block Inc , the largest U.S. tax preparer, on Tuesday said it will eliminate 575 jobs at its Option One Mortgage Corp subprime lending unit, on top of 615 job losses announced on May 15. (Tue, 11 Sep 2007 21:36:10 GMT)

H&R Block Cuts Jobs at Mortgage Unit
Tax preparer H&R Block Inc. will cut more jobs from its mortgage lending unit and take charges for restructuring the business, according to a regulatory filing on Tuesday. (Tue, 11 Sep 2007 21:49:57 GMT)

MFA Mortgage Sells More Stock
MFA Mortgage Investments Inc., which invests in mortgage-backed securities, said Tuesday underwriters of its recent offering exercised an option in full to buy 1.65 million shares of MFA stock. (Tue, 11 Sep 2007 22:39:42 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. (Tue, 11 Sep 2007 22:44:56 GMT)

Mortgage crisis hits home
A year ago, Cheryl Trueblood and her family were trapped in the mortgage crisis that is still gripping thousands of homeowners in North County and millions nationwide. (Tue, 11 Sep 2007 22:55:07 GMT)

H&R Block to fire 575 Option One mortgage staff
NEW YORK (Reuters) - H&R Block Inc (HRB.N), the largest U.S. tax preparer, said on Tuesday it will fire 575 workers at its Option One Mortgage Corp subprime lending unit, on top of 615 job losses announced on May 15. (Wed, 12 Sep 2007 00:27:33 GMT)

Mortgage Brokers Warned Over 'Potentially Deceptive' Ads
The Federal Trade Commission has warned more than 200 companies about "potentially deceptive" mortgage advertisements that could give borrowers false impressions of the cost of home loans. (Wed, 12 Sep 2007 01:58:10 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 12 Sep 2007 02:57:35 GMT)

Widening gap between incomes and home prices led to housing slump
WASHINGTON | An Associated Press analysis of new census data provides insight into the slumping housing market: Since 1990, homeowners have faced a growing gap between their incomes and home prices. (Wed, 12 Sep 2007 03:32:11 GMT)

GMAC Gets $21 Billion in Citigroup Funding for Auto, Home Loans
Sept. 12 (Bloomberg) -- GMAC LLC, the lender that reported more than $1 billion of mortgage losses after General Motors Corp. sold a controlling stake last year, is getting as much as $21.4 billion in additional credit from Citigroup Inc. for auto and home loans. (Wed, 12 Sep 2007 05:10:34 GMT)

MLD Mortgage finds gem in subprime mess
The latest incarnation of The Money Store hopes to be a beneficiary of the subprime shakeout by acquiring failed mortgage companies on the cheap. (Wed, 12 Sep 2007 07:55:03 GMT)

Why You Should Refinance Now If You Have an Adjustable Rate Mortgage
(ARA) - If you took out a mortgage on your home between 2002 and 2005, chances are good you ended up going with an adjustable rate mortgage or ARM. Back then, it was just too good of a deal to pass up. (Wed, 12 Sep 2007 09:22:57 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 12 Sep 2007 09:38:48 GMT)

Burdening Your Retirement With A Mortgage
Think twice before you rid yourself of a mortgage at retirement age. Use the leverage to your benefit. (Wed, 12 Sep 2007 10:14:34 GMT)

Ahead of the Bell: Mortgage Applications
Investors on Wednesday will get an update on mortgage applications as the housing market continues to show weakness. The Mortgage Bankers Association is due to report its weekly index of home-loan application volume at 7 a.m. (Wed, 12 Sep 2007 10:17:45 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." (Wed, 12 Sep 2007 10:37:48 GMT)

Mortgage Application Volume Rises
Mortgage application volume rose 5.5 percent for the week ending Sept. 7, according to the Mortgage Bankers Association's weekly applications survey. (Wed, 12 Sep 2007 11:24:28 GMT)

Mortgage apps up in short week
Mortgage applications climbed last week, according to the latest report by the Mortgage Bankers Association published Tuesday. (Wed, 12 Sep 2007 11:31:40 GMT)

Mortgage applications rose 5.5% last week: MBA
CHICAGO (MarketWatch) -- Volumes of mortgage applications filed last week were up a seasonally adjusted 5.5% as interest rates on loans to buy homes decreased, the Mortgage Bankers Association reported on Wednesday. (Wed, 12 Sep 2007 11:34:37 GMT)

Home loan demand rises as interest rates tumble
NEW YORK (Reuters) - Mortgage applications rose for a second straight week, fueled by demand for home loans as interest rates sank to their lowest since May, an industry group's figures showed Wednesday. (Wed, 12 Sep 2007 11:34:56 GMT)

Abbey raises mortgage rates
Abbey is the first UK bank to raise its mortgage rates as a result of the turmoil in the financial markets. (Wed, 12 Sep 2007 11:54:55 GMT)

U.S. MBA's Mortgage Applications Index Increased 5.5% Last Week
Sept. 12 (Bloomberg) -- Mortgage applications in the U.S. rose 5.5 percent last week, reflecting gains in both purchases and refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan rose to 657.4 from 622.9 the prior week. (Wed, 12 Sep 2007 12:10:54 GMT)

U.S. MBA's Mortgage Applications Index Increased 5.5% (Update1)
Sept. 12 (Bloomberg) -- Mortgage applications in the U.S. rose 5.5 percent last week, reflecting gains in both purchases and refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan rose to 657.4 from 622.9 the prior week. (Wed, 12 Sep 2007 12:44:59 GMT)

Home loan demand rises as interest rates tumble
NEW YORK (Reuters) - Mortgage applications rose for a second straight week, fueled by demand for home loans as interest rates sank to their lowest since May, an industry group's figures showed Wednesday. (Wed, 12 Sep 2007 12:50:36 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Wed, 12 Sep 2007 13:20:16 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 12 Sep 2007 13:24:57 GMT)

Xerox Buys Mortgage Document Specialist Advectis
Xerox is hoping to tackle a mortgage market buried in paper trails and desperate for solutions in the mounting credit crisis. (Wed, 12 Sep 2007 13:55:46 GMT)

Mortgage reset shock: Not so bad
The number of adjustable rate mortgages (ARMs) up for reset is set to peak this fall, with an estimated $50 billion worth poised to adjust to higher rates in October. (Wed, 12 Sep 2007 14:01:29 GMT)

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