Mortgage News Sep 2007

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AUTOSHOW-U.S. mortgage crisis casts pall over carmakers
FRANKFURT, Sept 12 (Reuters) - Fears that the U.S. mortgage crisis could douse consumers' appetite for new cars and hit the bottom line stalked executives at the Frankfurt International Motor Show this week. (Wed, 12 Sep 2007 14:28:15 GMT)

Treasury's Paulson calls for expansion of mortgage products
WASHINGTON (MarketWatch) -- More mortgage products are needed to help homeowners keep their houses, Treasury Secretary Henry Paulson said Wednesday. (Wed, 12 Sep 2007 15:05:29 GMT)

Fed Research Shows Home Loan Applications, Purchased Loans Dn
WASHINGTON (Dow Jones)--The Federal Reserve says home loan applications and purchased loans fell 6% in 2006 from 2005. (Wed, 12 Sep 2007 15:06:08 GMT)

Home-loan denial rate rose in 2006: report
More Americans had their home loan applications turned down in 2006 than a year earlier, although the majority continued to be approved, according to a report issued on Wednesday by financial sector regulators. (Wed, 12 Sep 2007 15:48:59 GMT)

Refi rescue
Hundreds of thousands of homeowners who may struggle to make mortgage payments are likely to get some relief in coming months, including more options to refinance into lower-cost, fixed-rate loans and tax relief if they do face foreclosure. (Wed, 12 Sep 2007 16:16:36 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. (Wed, 12 Sep 2007 16:17:04 GMT)

FTC warns companies on 'deceptive' 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. (Wed, 12 Sep 2007 17:06:10 GMT)

Mortgage applications rise as rates tumble
Mortgage applications rose for a second week as interest rates on home loans tumbled to their lowest since May, an industry group said Wednesday. (Wed, 12 Sep 2007 17:06:28 GMT)

Home loan demand up as interest rates tumble
NEW YORK (Reuters) - Mortgage applications rose for a second straight week as interest rates sank to their lowest since May, data from an industry trade group showed on Wednesday. (Wed, 12 Sep 2007 17:34:14 GMT)

Home loan demand up as rates tumble
NEW YORK (Reuters) - Mortgage applications rose for a second straight week as interest rates sank to their lowest since May, data from an industry trade group showed on Wednesday. (Wed, 12 Sep 2007 17:34:38 GMT)

Mortgage Brokers Paid Lobbyist $140,000
The National Association of Mortgage Brokers paid Porterfield & Lowenthal LLC $140,000 to lobby the federal government in the first half of 2007, according to a recent disclosure form. (Wed, 12 Sep 2007 18:01:15 GMT)

How to Pay Off Multiple Debts
When a mortgage, credit payments and a divorce loom, refinancing can sometimes help. (Wed, 12 Sep 2007 18:12:22 GMT)

U.S. Fed Says Minorities Denied Home Loans More Often (Update3)
Sept. 12 (Bloomberg) -- Minority borrowers received higher- cost mortgages more frequently than whites when they refinanced their homes last year, continuing a trend of racial disparities in home-loan rates, the Federal Reserve said. (Wed, 12 Sep 2007 19:40:45 GMT)

Sector Glance: Mortgage Lenders
Shares of mortgage lenders were mixed Wednesday, as a report showing more people applied for mortgages last week offered some hope ahead of the investment banks' earnings reports next week. (Wed, 12 Sep 2007 20:07:26 GMT)

Fannie, Freddie can help stabilize mortgage market as 'bad actors' drop out, Fannie CEO says
Several years after multibillion-dollar accounting scandals tarnished reputations at Fannie Mae and Freddie Mac, the mortgage giants are regaining market dominance amid an ailing housing market. (Wed, 12 Sep 2007 20:18:15 GMT)

Mortgage Liability Issue to Hit Congress
Banks that package mortgage securities -- and the institutional investors who buy them -- are fearful that lawmakers could in the future make them legally responsible for fraud committed by lenders. (Wed, 12 Sep 2007 20:34:58 GMT)

Federal Reserve's New Home Loan Data Shows Disturbing Differences by Race, Increased High Cost Lending Leads to Serious ...
The 2006 Home Mortgage Disclosure Act (HMDA) data released today by the Federal Reserve Board suggests that an increase in high-cost lending has increased mortgage delinquencies and is a significant contributor to the mortgage meltdown. The data confirms that stubborn, persistent, and significant racial differences in the level of high-cost lending have continued across the country. The Federal ... (Wed, 12 Sep 2007 20:48:00 GMT)

U.S. Fed Says Minorities Denied Home Loans More Often (Update4)
Sept. 12 (Bloomberg) -- Minority borrowers received higher- cost mortgages than whites more frequently when they refinanced their homes last year, continuing a trend of racial disparities in home-loan rates, the Federal Reserve said. (Wed, 12 Sep 2007 21:55:39 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

Home loan-GDP ratio still stuck at a paltry 5%
(Wed, 12 Sep 2007 22:18:54 GMT)

First Horizon to Slash Mortgage Jobs
First Horizon National Corp. said Wednesday it will cut at least 1,500 jobs by early next year due to challenging conditions in its mortgage, national real estate and banking businesses. (Wed, 12 Sep 2007 22:42:27 GMT)

A Home Loan Trap
High fees for early payment can prevent escape for homeowners trying to escape from adjustable rate mortgages. (Thu, 13 Sep 2007 02:26:23 GMT)

Loan Applications Rise, Data Say
U.S. - mortgage applications rose 5.5 percent last week, reflecting gains in both purchases and refinancing. (Thu, 13 Sep 2007 02:44:15 GMT)

Mortgage applications rose last week
Mortgage applications in the U.S. rose 5.5 percent last week, reflecting gains in both purchases and refinancing. (Thu, 13 Sep 2007 05:15:05 GMT)

Adaro Indonesia May Pay Premium to Refinance Bonds Ahead of IPO
Sept. 13 (Bloomberg) -- PT Adaro Indonesia, the nation's second-largest coal miner, may have to pay a premium to refinance $400 million of debt that's restricting expansion and a share sale, said two bankers familiar with the firm's plans. (Thu, 13 Sep 2007 05:48:45 GMT)

Mortgage lender sued for losses in 401(k) plan
LOS ANGELES -- A lawsuit filed against Countrywide Financial Corp. on behalf of its employees says the mortgage lender failed to warn them about the depth of its financial troubles, resulting in heavy stock losses in their 401(k) retirement accounts. (Thu, 13 Sep 2007 07:52:02 GMT)

Mortgage apps gain in holiday-shortened week
Mortgage applications climbed last week, according to the latest report by the Mortgage Bankers Association published Tuesday. (Thu, 13 Sep 2007 09:26:00 GMT)

Pressure's on to raise mortgage guaranty caps
Several years after multibillion-dollar accounting scandals tarnished reputations at Fannie Mae and Freddie Mac, the mortgage giants are regaining market dominance amid an ailing housing market. (Thu, 13 Sep 2007 09:48:33 GMT)

Report: More buyers stretch for home loan
Applicants for home mortgages were turned down for loans at a slightly higher rate in 2006 than in 2005. Also, significant disparities continued to exist between white applicants and minority applicants, the government said. (Thu, 13 Sep 2007 09:48:43 GMT)

Mortgage rates tumble -- along with jobs
Mortgage rates tumbled to their lowest level in four months as a shockingly downbeat employment report convinced investors that a Fed rate cut is at hand. (Thu, 13 Sep 2007 10:00:00 GMT)

Mortgage crisis is threat to prosperity
The subprime mortgage crisis that is shaking the nation’s credit and stock markets is the biggest threat to derail a five-year stretch of unprecedented global prosperity, CNBC senior analyst Ron Insana said Wednesday. (Thu, 13 Sep 2007 11:12:25 GMT)

Bankrate: Mortgage Rates Fall to 4-Month Low
Fixed mortgage rates plunged this week, with the average conforming 30-year fixed mortgage rate falling to 6.28 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.43 discount and origination points. (Thu, 13 Sep 2007 11:30:00 GMT)

Fed: Disparities in home-loan rates persist
Minority borrowers more frequently received higher-cost mortgages than non-Hispanic whites when they refinanced their homes last year, continuing a trend of racial disparities in home-loan rates, the Federal Reserve said. (Thu, 13 Sep 2007 11:37:18 GMT)

Battle brewing over mortgage liability
WASHINGTON -- Banks that package mortgage securities -- and the institutional investors who buy them -- are fearful that lawmakers could in the future make them legally responsible for fraud committed by lenders. (Thu, 13 Sep 2007 11:43:27 GMT)

Mortgage rates tumble
Mortgage rates tumbled to their lowest level in four months as a shockingly downbeat employment report convinced investors that a Fed rate cut is at hand. (Thu, 13 Sep 2007 11:47:27 GMT)

Countrywide August mortgage fundings slide 17 percent
Countrywide Financial Corp , the largest U.S. mortgage lender, said on Thursday its mortgage fundings slid 17 percent in August from a year earlier to $34 billion on the housing slowdown and "credit tightening in the mortgage market." (Thu, 13 Sep 2007 12:31:13 GMT)

Minnesota Builder Under Investigation For Mortgage Fraud
The FBI and state of Minnesota authorities are investigating mortgage fraud in the state, and while federal and state authorities would not refer to any builders by name, alleged wrongdoing by home builder Parish Marketing and Development Corp. (Thu, 13 Sep 2007 12:42:34 GMT)

Ahead of the Bell: Thornburg Mortgage
Two more analysts upgraded Thornburg Mortgage Inc. on Thursday, as the home lender appears to have averted the worst of the mortgage crisis. (Thu, 13 Sep 2007 12:45:13 GMT)

Countrywide loan biz hits big slowdown
Embattled mortgage lender reports double-digit decline in August, blames falling home values and decaying credit quality. (Thu, 13 Sep 2007 13:31:29 GMT)

Treasury Chief Urges Refinancing for Homeowners
Treasury Secretary Henry Paulson urges large mortgage companies to help homeowners by refinancing their loans. Many homeowners face steep increases in their mortgage payments, putting them at risk of losing their homes. (Thu, 13 Sep 2007 13:46:28 GMT)

Mortgage rates tumble
Mortgage rates dropped in the latest week, which could help home buyers who are looking to refinance, Freddie Mac reported Thursday. (Thu, 13 Sep 2007 14:16:39 GMT)

WaMu closing 2 mortgage divisions
The savings and loan's move means about 1,000 jobs will be cut. Washington Mutual Inc., the largest U.S. savings and loan, said Wednesday that it would shutter one division that bought mortgages from other home lenders and another that financed mortgage companies. (Thu, 13 Sep 2007 14:51:40 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. (Thu, 13 Sep 2007 15:00:49 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 13 Sep 2007 15:50:24 GMT)

Property price rise driving home loans
Bankers have put down the recent drop in housing loan off-take to the unprecedented rise in property prices and not the recent rise in interest rates. According to bankers, the demand for home loans will pick up as prices fall in the next few months. (Thu, 13 Sep 2007 16:29:21 GMT)

30-year mortgage rates drop to lowest in 4 months
WASHINGTON - Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages. (Thu, 13 Sep 2007 17:19:28 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. (Thu, 13 Sep 2007 17:38:27 GMT)

Mortgage rates drop to four month low
Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their (Thu, 13 Sep 2007 17:51:09 GMT)

30-year mortgage rate at 6.21%, lowest since May
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.31% this week, the lowest level since May 17, when 30-year mortgages averaged 6.21%. The rate had been 6.46% last week. (Thu, 13 Sep 2007 18:21:32 GMT)

MGIC Abandons Deal for Rival Mortgage Insurer Radian, Citing Troubles in Mortgage Market
Emily Fredrix September 5, 2007 - 09:18 a.m. MILWAUKEE (AP) - Mortgage insurer MGIC Investment Corp. and rival Radian Group Inc. said Wednesday they are abandoning plans to combine the companies, citing troubles in the mortgage industry. (Thu, 13 Sep 2007 18:28:33 GMT)

MORTGAGE CALCULATOR
How much will your mortgage payments be? Can you pay off your mortgage faster by changing the size of your payments? What will a change in interest rates do to your payments? (Thu, 13 Sep 2007 18:31:35 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. (Thu, 13 Sep 2007 18:50:04 GMT)

Washington Mutual cuts subprime jobs, adds more mortgage sellers in branches
SEATTLE - Thrift bank Washington Mutual Inc. said Thursday it will cut 1,000 jobs, eliminating its sales force dedicated to mortgage borrowers with questionable credit and slashing some of its wholesale banking operations. (Thu, 13 Sep 2007 18:57:55 GMT)

Home loan rates steady for now
THE nation's lenders continue to adjust interest rates on higher risk products in response to the global credit crunch, but mainstream banks have so far avoided any hike in their variable home loan rates. (Thu, 13 Sep 2007 20:00:00 GMT)

UK mortgage lender bailed out
The Bank of England agrees to give emergency financial support to mortgage lender Northern Rock. (Thu, 13 Sep 2007 20:02:35 GMT)

Sector Glance: Mortgage Lenders
Shares of mortgage lenders rose Thursday after the nation's biggest lender said it gained access to much-needed cash. Countrywide Financial Corp., which is based in Calabasas, Calif., said it secured access to $12 billion in new credit lines. (Thu, 13 Sep 2007 20:19:47 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. (Thu, 13 Sep 2007 20:52:18 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Thu, 13 Sep 2007 20:52:27 GMT)

Washington Mutual cuts subprime jobs, adds more mortgage sellers in branches
Thrift bank Washington Mutual Inc. said Thursday it will cut 1,000 jobs, eliminating its sales force dedicated to mortgage borrowers with questionable credit and slashing some of its wholesale banking operations. (Thu, 13 Sep 2007 20:57:45 GMT)

Fitch Affs $665.7MM & Downgrades $61.4MM from 1 Soundview HE Loan Trust Subprime Transaction
NEW YORK----Fitch Ratings has taken the following rating actions on Soundview Home Equity Loan Trust asset-backed certificates. Affirmations total $665.7 million and downgrades total $61.4 million. (Thu, 13 Sep 2007 21:03:00 GMT)

Capstead Mortgage Declares Dividend
Real estate investment trust Capstead Mortgage Corp. said Thursday its board declared a quarterly dividend of 4 cents per share. (Thu, 13 Sep 2007 22:01:51 GMT)

Low mortgage rates the silver lining in a bleak housing picture
CHICAGO (MarketWatch) -- Sure, the shakiness in the mortgage lending market has made it difficult for some borrowers to get a loan. But for others with great credit and a down payment, conditions are getting even more favorable to buy a home or refinance. (Thu, 13 Sep 2007 22:36:21 GMT)

Mortgage Meltdown
Nationwide, home foreclosure notices are hitting record highs. Georgia ranks fifth among homeowners who are behind on their payments. It is also top 20 in foreclosures. WJBF-TV News Channel 6's Dave Hansen tells us whether the mortgage meltdown is being felt in the CSRA... (Thu, 13 Sep 2007 23:33:51 GMT)

Sugar Land man sentenced in mortgage fraud case
A Sugar Land man who was convicted in what prosecutors say was a mortgage fraud scam was sentenced to 25 years in prison Thursday. (Fri, 14 Sep 2007 00:53:32 GMT)

Bill bars credit bureaus from selling data on mortgage applicants
Wisconsin would ban credit reporting agencies from selling the names, addresses and phone numbers of recent mortgage applicants to outside solicitors, under legislation that two Milwaukee-area lawmakers proposed Thursday. (Fri, 14 Sep 2007 02:04:22 GMT)

Mortgage lender's news helps spur on Dow index
Stocks advanced solidly Thursday, led by strong gains among the blue chips and mortgage lender Countrywide Financial Corp., which signaled a possible thawing in the credit markets with the announcement it had lined up additional financing. (Fri, 14 Sep 2007 05:49:58 GMT)

Sugar Land man gets 25 years in mortgage fraud
A Sugar Land man who was convicted in what prosecutors say was a mortgage fraud scam was sentenced to 25 years in prison Thursday. (Fri, 14 Sep 2007 05:53:51 GMT)

Looking for a home loan? Be prepared to pony up
Not long ago, lenders were handing out mortgages to anyone with a phone number and a pulse. No money for a down payment? Not a problem! Low credit score? Who cares? Incarcerated? You'll need a place to live when you get out, right? (Fri, 14 Sep 2007 06:14:22 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? (Fri, 14 Sep 2007 08:14:43 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? (Fri, 14 Sep 2007 08:14:52 GMT)

BoE bails out key mortgage lender
The Bank of England has taken the unusual move of bailing out a key mortgage lender, as the global credit crunch threatened to claim its latest victim, sending European markets reeling. (Fri, 14 Sep 2007 08:22:49 GMT)

Refinancing looks good as mortgage rates decline
WASHINGTON – Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages. (Fri, 14 Sep 2007 08:31:33 GMT)

Battle brewing over mortgage liability
WASHINGTON -- Banks that package mortgage securities -- and the institutional investors who buy them -- are fearful that lawmakers could in the future make them legally responsible for fraud committed by lenders. (Fri, 14 Sep 2007 08:32:52 GMT)

Fit interest-only loan term with holding period
Interest-only loan improves monthly cash flow of rental property, says Dr. Don. (Fri, 14 Sep 2007 10:00:00 GMT)

British mortgage lender gets Bank of England bail-out
The Bank of England has stepped in to provide emergency financial support to Britain's fifth-largest mortgage lender Northern Rock, the latest institution to fall victim to market turmoil, officials confirmed Friday. (Fri, 14 Sep 2007 10:14:58 GMT)

UPDATE Orange County mortgage casualties
(Updated Aug.28 – BNC Financial, Lending Tree, Impac Mortgage, NovaStar and Quick Loan Funding updated. Lenders Direct Capital Corp. added.) Acoustic Home Loans , Orange. Closed in April 2006. Laid off 203 people. (Fri, 14 Sep 2007 11:00:23 GMT)

Ahead of the Bell: Mortgage Lenders
A Friedman Billings Ramsey analyst said Friday any benefit stocks of mortgage lenders will enjoy if the Federal Reserve cuts its interests rates this month will be temporary. (Fri, 14 Sep 2007 11:45:24 GMT)

Mortgage Lenders: The Pain Deepens
For the crippled mortgage industry, the bad news won't stop. (Fri, 14 Sep 2007 12:08:43 GMT)

Analyst: Fed rate cut no rescue for mortgage biz
Says move provides some lender relief, but no halt to sinking home values. NEW YORK (AP) -- A Friedman Billings Ramsey analyst said Friday any benefit stocks of mortgage lenders will enjoy if the Federal Reserve cuts its interests rates this month will be temporary. (Fri, 14 Sep 2007 13:11:54 GMT)

Home-equity loans, credit lines now harder to come by
Back when the real estate market was flying at 30,000 feet, getting a home-equity line of credit was a pretty straightforward process. You called a toll-free number, asked for a loan, and within hours, a guy with a suitcase full of money showed up at your door. (Fri, 14 Sep 2007 13:12:07 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 14 Sep 2007 13:32:39 GMT)

UK props up wounded mortgage lender Northern Rock
Britain's financial authorities stepped in to rescue mortgage lender Northern Rock on Friday as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks. (Fri, 14 Sep 2007 13:33:36 GMT)

Home debuts for Saints pair
St Johnstone are set to give home debuts to loan signings Rocco Quinn and Kenny Deuchar against Partick Thistle in the First Division (writes James Masson). (Fri, 14 Sep 2007 13:42:38 GMT)

British mortgage lender hit by credit problems, clients withdraw savings
Shares in mortgage lender Northern Rock plunged by a quarter on Friday as clients rushed to withdraw their savings following an emergency bailout by the Bank of England (BoE). (Fri, 14 Sep 2007 14:28:21 GMT)

Rural Missouri hits 150 million level of home loan guarantees from USDA Rural Development
Greg Branum, Missouri State Director for USDA Rural Development, announced that 150 million in guaranteed rural housing loans have been made in rural Missouri so far this fiscal year. (Fri, 14 Sep 2007 14:40:08 GMT)

U.K. tries to stop a run on big mortgage lender, stocks sink
Britain's financial authorities stepped in to rescue mortgage lender Northern Rock on Friday as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks. U.K. stocks sank on the news. (Fri, 14 Sep 2007 15:26:37 GMT)

(D-PA) announces the achievement of a . $100 million milestone in the Federal Home Loan Bank s Affordable Housing
U.S. Sen. Robert P. Casey Jr. $100 million milestone in the Federal Home Loan Bank s Affordable Housing 14/09/2007 16:25:00 Business Wire U.S. Sen. Robert P. (Fri, 14 Sep 2007 16:35:53 GMT)

Nebraska Sues Mortgage Broker
The state of Nebraska has sued an Omaha-based mortgage broker and intends to revoke its license for what the state says were predatory lending practices. (Fri, 14 Sep 2007 17:44:18 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. (Fri, 14 Sep 2007 17:51:46 GMT)

Countrywide Caught in Mortgage Spiral
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. (Fri, 14 Sep 2007 18:58:42 GMT)

Sector Snap: Mortgage Lenders
Shares of mortgage lenders were mixed Friday on a slow trading day ahead of Wall Street's earnings season next week. With the exception of Countrywide Financial Corp., most mortgage lending stocks traded at a pace well below their average volume. (Fri, 14 Sep 2007 19:19:05 GMT)

Nebraska Sues Mortgage Broker
The state of Nebraska has sued an Omaha-based mortgage broker and intends to revoke its license for what the state says were predatory lending practices. (Fri, 14 Sep 2007 20:24:20 GMT)

Nebraska sues mortgage broker for predatory lending
The state of Nebraska has sued Advantage Mortgage Service, intending to revoke its license for what the state says were predatory lending practices. (Fri, 14 Sep 2007 20:45:23 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. (Fri, 14 Sep 2007 20:45:25 GMT)

Scramble to quit UK mortgage lender
The turmoil in global banking hit the streets of Britain on Friday as thousands of Northern Rock customers queued up to withdraw their savings from the UK mortgage lender after it was rescued by the Bank of England. (Fri, 14 Sep 2007 20:47:02 GMT)

Countrywide Caught in Mortgage Spiral
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. (Fri, 14 Sep 2007 22:00:17 GMT)

Countrywide caught in mortgage spiral
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust. (Fri, 14 Sep 2007 22:51:56 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. (Fri, 14 Sep 2007 23:10:22 GMT)

Mortgage rates fall to a 4-month low
WASHINGTON (AP) — Rates on 30-year mortgages dropped last week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages. (Fri, 14 Sep 2007 23:37:29 GMT)

Countrywide tries to regain footing atop shaky mortgage industry
LOS ANGELES — Countrywide Financial Corp. grew from a two-man startup in 1969 into the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. (Sat, 15 Sep 2007 02:21:33 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. (Sat, 15 Sep 2007 05:30:26 GMT)

State sues mortgage broker for predatory practices
A predatory mortgage lending case like those causing consumer advocates to demand action by Congress and other states has been simmering in Lincoln and Nebraska for years. (Sat, 15 Sep 2007 06:08:00 GMT)

Tough words on mortgage fraud
Home buyers and owners refinancing mortgages are increasingly finding at the closings that their lender isn't honoring the deal they thought they had locked up. (Sat, 15 Sep 2007 06:30:59 GMT)

Mortgage mess leads to string of lawsuits
When something goes badly on Wall Street, people wind up in court. And the subprime-mortgage mess is no exception. A consortium of investors... (Sat, 15 Sep 2007 07:33:44 GMT)

Severity of mortgage-foreclosure crisis depends on type of loan, where you live
Just how bad is the foreclosure situation? If you caught summaries of the latest delinquency and foreclosure numbers released by the Mortgage... (Sat, 15 Sep 2007 07:33:55 GMT)

Rural Missouri hits 150 million level of home loan guarantees from USDA Rural Development
Greg Branum, Missouri State Director for USDA Rural Development, announced that 150 million in guaranteed rural housing loans have been made in rural Missouri so far this fiscal year. (Sat, 15 Sep 2007 09:24:42 GMT)

Countrywide caught in mortgage spiral
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust. (Sat, 15 Sep 2007 09:42:11 GMT)

Countrywide Caught in Mortgage Spiral
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. (Sat, 15 Sep 2007 10:00:27 GMT)

Countrywide Caught in Mortgage Spiral
LOS ANGELES -- Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust. (Sat, 15 Sep 2007 10:02:12 GMT)

Borrower beware with option arm mortgage loan
The option arm loan program became one of the most popular mortgage choices for borrowers in the past few years because of its payment flexibility. Now this same payment flexibility has made it one of the most scrutinized loan programs in history. (Sat, 15 Sep 2007 11:07:51 GMT)

Bank sued candidate over loan
Beverly Earle, the Democratic candidate for Charlotte mayor, was ordered to pay more than $3,000, plus interest, last month after defaulting on an $8,000 loan for her son. The Mecklenburg County court judgment against her came a year and a half after RBC Centura complained in court files that the son, Steven Jessup, stopped making payments on the personal line of credit. An attorney for the bank ... (Sat, 15 Sep 2007 11:30:07 GMT)

UK housebuilders down on weak home prices, mortgage woes
Shares in British housebuilders fell sharply on Friday, with sector leaders skidding over 8 percent, as reports of falling house prices and liquidity problems at mortgage lender Northern Rock raised concerns over reduced home demand. (Sat, 15 Sep 2007 11:33:00 GMT)

Troubled British mortgage bank's customers ignore appeals for calm
LONDON (AP) - Customers lined up outside branches of a British mortgage bank for a second day Saturday as fears spread over the bank's emergency loan from the Bank of England amid global financial turmoil. (Sat, 15 Sep 2007 15:12:00 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? (Sat, 15 Sep 2007 16:15:04 GMT)

Richmisery over mortgage-rate claim
It's been a bad week for property sales firm Richmastery. After a lawsuit was filed against it in the High Court alleging copyright infringement, the firm faced allegations of misleading advertising over an unusually low mortgage rate promoted in a weekend newspaper. (Sat, 15 Sep 2007 17:12:17 GMT)

Bank sued candidate over loan
Beverly Earle, the Democratic candidate for Charlotte mayor, was ordered to pay more than $3,000, plus interest, last month after defaulting on an $8,000 loan for her son. The Mecklenburg County court judgment against her came a year and a half after RBC Centura complained in court files that the son, Steven Jessup, stopped making payments on the personal line of credit. An attorney for the bank ... (Sat, 15 Sep 2007 17:32:30 GMT)

Oreck to pay off loan to Mississippi
Oreck Manufacturing will repay more than half of a $3 million, low-interest loan granted by Harrison County and the state of Mississippi to help establish its Long Beach plant in 1997. (Sat, 15 Sep 2007 20:27:40 GMT)

Don't worry, you'll still be able to afford a mortgage
Anyone who is about to take out a mortgage, or already has one, can be forgiven for panicking. Headlines in last week's papers would make any sane person worry about whether they can afford a home loan, or if their lender will be around to honour it. (Sat, 15 Sep 2007 23:05:30 GMT)

Home buyers hit hard in August
First home buyers were literally shut out from home ownership by a record unaffordability in August on a national basis, and in some key metropolitan regions, according to a survey released today. (Sun, 16 Sep 2007 01:27:11 GMT)

How to keep mortgage companies happy
As mortgage delinquencies rise, more homeowners will need to negotiate workouts with mortgage companies. When you fall behind on payments, your chances of getting cooperation from the mortgage servicer are better if you follow the following guidelines. (Sun, 16 Sep 2007 01:55:12 GMT)

British mortgage bank's customers ignore appeals for calm, line up to withdraw savings
LONDON - Hundreds of customers lined up to withdraw their savings from a British mortgage bank Saturday, ignoring government assurances that their money was safe despite the bank's request for an emergency loan. (Sun, 16 Sep 2007 02:17:45 GMT)

Mortgage lender's rough ride
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. (Sun, 16 Sep 2007 02:41:29 GMT)

Welcome to los-portales.com
Mortgage Loans Refinance $200,000 For Only $938/Month. 1 Simple form, up to 4 Offers. www.LendingTree.com Wachovia Home Mortgages Compare Loans , Calculate Payments, Get Pre-Approved. All Online. (Sun, 16 Sep 2007 03:03:42 GMT)

Customers of British mortgage lender panic
Thousands of customers queued up outside branches of a British mortgage bank for a second day yesterday to withdraw their savings, despite the government's assurances of the bank's solvency. (Sun, 16 Sep 2007 03:58:41 GMT)

Mortgage ads under FTC scrutiny
The Federal Trade Commission has issued a warning about "potentially deceptive" advertisements for low-cost mortgages, saying consumers could be duped and mortgage companies might be breaking the ... (Sun, 16 Sep 2007 04:38:26 GMT)

Houston mortgage monitor
The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. Rates, which may change on Monday, are for 90 percent loans and do not include origination fees. The numbers in parentheses after the rates are discount points. A point is equal to 1 percent of the loan amount (Sun, 16 Sep 2007 05:49:03 GMT)

Home-equity loans get harder to obtain
Back when the real estate market was flying at 30,000 feet, getting a home-equity line of credit was a pretty straightforward process. You called a toll-free number, asked for a loan, and within hours, a guy with a suitcase full of money showed up at your door. (Sun, 16 Sep 2007 06:14:02 GMT)

Countrywide caught in mortgage spiral
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust. (Sun, 16 Sep 2007 06:22:36 GMT)

Mortgage woes mount after Katrina
WASHINGTON -- Like many homeowners, Letitia Youngblood decided in April of 2005 to refinance her mortgage so she could get some extra cash. The move allowed her to make some repairs to her 9th Ward home and create a room to do part-time seamstress work. (Sun, 16 Sep 2007 06:43:28 GMT)

Pay a little extra each month, cut years off mortgage
Question: My mortgage payment is due on the first of each month. I would like to make half my monthly payment 15 days before it's due and the remainder on the due date. But my lender says the only way I can do this is through a third-party company, which will then charge me a sign-up fee of several hundred dollars plus a monthly fee. If I just pay twice a month, doesn't the lender have to accept ... (Sun, 16 Sep 2007 07:10:30 GMT)

Loan rules tighten in a jittery market
Buyers find it tougher to qualify. PETER LEPORE and Cathy Tieri-Lepore began looking for a home three years ago when it was just the two of them. Today the Santa Monica couple are the parents of a 2-year-old. And they're still looking. (Sun, 16 Sep 2007 07:10:40 GMT)

BUYERS: Lenders tighten loan standards
Gone are the days of easy loans. Foreclosures and a subprime loan-market meltdown have left buyers scrambling to ante up. (Sun, 16 Sep 2007 07:13:04 GMT)

ROBERT BRUSS: Pay off mortgage early by adding to monthly amount
Dear Bob: I have frequently heard if your mortgage calls for monthly payments, you can make a significant interest savings if you pay twice monthly. For example, my mortgage payment is due on the first day of each month. I would like to pay half of my monthly payment 15 days before the due date and the remainder on the due date. (Sun, 16 Sep 2007 07:21:04 GMT)

Loan rules tighten amid subprime mortgage mess
Not long ago, lenders were handing out mortgages to anyone with a phone number and a pulse. Those easy-money days are history. As the mortgage meltdown has spread, lenders are demanding stellar credit and proof of income. Zero-down payment mortgages have almost disappeared. (Sun, 16 Sep 2007 07:22:06 GMT)

Consumer loan and savings rates
Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. (Sun, 16 Sep 2007 08:56:18 GMT)

Rural Missouri hits 150 million level of home loan guarantees from USDA Rural Development
Greg Branum, Missouri State Director for USDA Rural Development, announced that 150 million in guaranteed rural housing loans have been made in rural Missouri so far this fiscal year. (Sun, 16 Sep 2007 09:05:57 GMT)

Rural Missouri hits 150 million level of home loan guarantees from USDA Rural Development
Greg Branum, Missouri State Director for USDA Rural Development, announced that 150 million in guaranteed rural housing loans have been made in rural Missouri so far this fiscal year. (Sun, 16 Sep 2007 09:20:56 GMT)

Battle brewing over mortgage liability
WASHINGTON -- Banks that package mortgage securities -- and the institutional investors who buy them -- are fearful that lawmakers could in the future make them legally responsible for fraud committed by lenders. (Sun, 16 Sep 2007 09:22:19 GMT)

Borrowers, like mortgage industry, adjust to credit crunch
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 "Mortgage Confidential." (Sun, 16 Sep 2007 09:35:05 GMT)

States try to rein in mortgage brokers
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 experience and training. (Sun, 16 Sep 2007 10:06:19 GMT)

Loan servicers help delinquent borrowers
Loan servicing companies step up staffing, training to deal with borrowers in trouble. (Sun, 16 Sep 2007 10:14:55 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Sun, 16 Sep 2007 10:14:58 GMT)

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