Mortgage News Sep 2007

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Prepaying mortgage a good move -- for some
Much attention is being paid to homeowners who can't afford their mortgage payment. But what if your bill is manageable? Or your loan's interest rate hasn't moved upward just yet? (Sun, 16 Sep 2007 10:27:13 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, 16 Sep 2007 10:30:03 GMT)

Adding to mortgage debt often bad advice
Homeowners often are the target of financial pitchmen trying to convince them they should never pay off their mortgages. Instead, the line goes, people should dig deeper into mortgage debt to purchase cars, to fund their chosen lifestyles or to invest. (Sun, 16 Sep 2007 10:31:34 GMT)

Sifting out surprises in mortgage fine print
Getting a mortgage is often the single largest financial transaction in a person's life. Yet borrowers, presented with a dizzying array of legal documents full of complex conditions, can find the process daunting. (Sun, 16 Sep 2007 10:39:26 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, 16 Sep 2007 12:45:04 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. To survive, it's been forced to borrow billions of dollars, announce ... (Sun, 16 Sep 2007 14:13:05 GMT)

State laws on mortgage fraud, sex offenders and DUI offenders take effect
PHOENIX -- Starting this week, Arizona will have one of the nation's tougher laws on mortgage fraud, a law that more closely tracks sex offenders and a law requiring first time drunken driving offenders to use interlock device. (Sun, 16 Sep 2007 16:28:58 GMT)

Bay Area renters lament high prices amid mortgage industry crisis
The cost of renting an apartment in the San Francisco Bay Area has surged in the past year - thanks in part to turmoil in the mortgage industry, according to new data from regional housing groups. (Sun, 16 Sep 2007 19:17:19 GMT)

3 Mistakes to Avoid When Applying for a Home Equity Loan
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. (Sun, 16 Sep 2007 19:34:21 GMT)

UK props up wounded mortgage lender
Britain's financial authorities stepped in to rescue mortgage lender Northern Rock as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks. (Sun, 16 Sep 2007 19:40:00 GMT)

Mixed messages on home loan rates
There are signs mortgage rates will soon be on the way down, with Kiwibank dropping its three-year fixed rate to 8.6 per cent. (Sun, 16 Sep 2007 20:30:42 GMT)

Figures in Met Mortgage scandal settle with SEC
Several key figures in the Metropolitan Mortgage & Securities Co. accounting scandal have agreed to settle lawsuits filed by the U.S. Securities and Exchange Commission... (Sun, 16 Sep 2007 22:14:51 GMT)

Mixed messages on home loan rates
17 September 2007 There are signs mortgage rates will soon be on the way down, with Kiwibank dropping its three-year fixed rate to 8.6 per cent. Other banks are expected to follow suit to maintain their share of the home loans market. (Sun, 16 Sep 2007 23:08:09 GMT)

Mixed messages on home loan rates
17 September 2007 There are signs mortgage rates will soon be on the way down, with Kiwibank dropping its three-year fixed rate to 8.6 per cent. Other banks are expected to follow suit to maintain their share of the home loans market. (Sun, 16 Sep 2007 23:12:24 GMT)

'Stick to fixed mortgage rates in short term'
Britain's 11.7million mortgage holders face the most uncertainty from the global credit crunch that hit Britain's economy with full force last week. (Sun, 16 Sep 2007 23:24:33 GMT)

Mortgage crisis spreads to sub-prime car loan market
Fears are mounting that the sub-prime mortgage crisis is beginning to infect America’s $300 billion (£150 billion) car loan market as evidence emerges of a surge in the numbers of US motorists in arrears. (Sun, 16 Sep 2007 23:29:15 GMT)

Impact of mortgage rate rises on retailers may be gauged this week
THE impact of higher mortgage rates will be seen next week as investors are due to hear from a number of retailers, including B&Q-owner Kingfisher. (Mon, 17 Sep 2007 00:19:16 GMT)

Bay Area renters lament high prices amid mortgage industry crisis
SAN FRANCISCO -- The cost of renting an apartment in the San Francisco Bay Area has surged in the past year -- thanks in part to turmoil in the mortgage industry, according to new data from regional housing groups. (Mon, 17 Sep 2007 02:47:52 GMT)

Mortgage system yet to be implemented in KSA
JEDDAH — Saudi Arabia is yet to implement a mortgage system as homes are bought through conventional bank loans, which earn about 4.75 per cent interest each year on housing loans. (Mon, 17 Sep 2007 03:21:46 GMT)

Welcome to los-portales.com
Wachovia Home Mortgages Compare Loans , Calculate Payments, Get Pre-Approved. All Online. www.Wachovia.com Mortgage Loans Refinance $200,000 For Only $938/Month. 1 Simple form, up to 4 Offers. (Mon, 17 Sep 2007 04:03:41 GMT)

Mortgage woes pinch Fifth Third
As problems wash over the home mortgage industry, local banks are getting mixed results in their battles to keep their loan portfolios clean. (Mon, 17 Sep 2007 04:26:19 GMT)

Carolina Bank launches wholesale mortgage unit
Carolina Bank is diving into a pool many observers might consider ice-cold right now, as it launches a wholesale mortgage division that will buy and sell residential home loans that have been originated by other banks, credit unions and brokers. (Mon, 17 Sep 2007 04:29:30 GMT)

Claims BNZ staff under home loan pressure
Bank of New Zealand is being accused of putting pressure on the housing market. (Mon, 17 Sep 2007 04:37:01 GMT)

Claims BNZ staff under home loan pressure
17 September 2007 Bank of New Zealand is being accused of putting pressure on the housing market. Finance sector union Finsec claims BNZ is setting unrealistic home loan sales targets for banking advisors. (Mon, 17 Sep 2007 04:58:05 GMT)

Claims BNZ staff under home loan pressure
17 September 2007 Bank of New Zealand is being accused of putting pressure on the housing market. Finance sector union Finsec claims BNZ is setting unrealistic home loan sales targets for banking advisors. (Mon, 17 Sep 2007 04:58:13 GMT)

Credit crunch crimps mortgage brokers
Homeowners aren't the only folks hurting due to the subprime lending meltdown. Mortgage brokers feel the pain, too. (Mon, 17 Sep 2007 05:03:23 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 "Mortgage Confidential." This is an edited transcript of a recent conversation with Reed about the ... (Mon, 17 Sep 2007 06:19:41 GMT)

Execs in scandal at Met Mortgage settle with SEC
Several key figures in the Metropolitan Mortgage & Securities accounting scandal have agreed to settle lawsuits filed by the Securities... (Mon, 17 Sep 2007 07:16:51 GMT)

Broker snap: Mortgage lenders hammered
Northern Rock has been slammed again as the beleaguered mortgage bank followed up Friday's 30% crash with a similar slump Monday. (Mon, 17 Sep 2007 07:40:08 GMT)

Mortgage banks suffer second day of losses
London equities fell further on Monday, with mortgage banks making fresh losses on worsening fears for the implications of the US subprime debt crisis on funding within the financial system . (Mon, 17 Sep 2007 08:06:49 GMT)

Home loan inquiry 'not good enough'
UNION and consumer groups say the recommendations from a federal parliament inquiry into home loan lending don't go far enough. (Mon, 17 Sep 2007 08:31:00 GMT)

Home loan inquiry 'not good enough'
UNION and consumer groups say the recommendations from a federal parliament inquiry into home loan lending don't go far enough. (Mon, 17 Sep 2007 08:31:00 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Mon, 17 Sep 2007 09:29:33 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, 17 Sep 2007 09:59:42 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, 17 Sep 2007 10:45:51 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. (Mon, 17 Sep 2007 10:52:13 GMT)

Bank of America Unveils Special Mortgage Refinance Offer
Bank of America introduced special pricing today for borrowers seeking to refinance their home loans with conforming 30-year and 15-year fixed rate loans and non-conforming 30-year fixed rate loans. (Mon, 17 Sep 2007 11:00:00 GMT)

Trading suspended briefly in troubled British mortgage company
LONDON - SHARES of British mortgage lender Northern Rock PLC, hit by a liquidity crisis which sent customers lining up to withdraw billions in deposits, tumbled more than 30 per cent on Monday. (Mon, 17 Sep 2007 11:07:12 GMT)

Bank of America Offers Loan Refinancing
Bank of America said Monday it will introduce special pricing for borrowers seeking to refinance their home loans with conforming 30-year and 15-year fixed rate loans and non-conforming 30-year fixed rate loans. (Mon, 17 Sep 2007 11:22:26 GMT)

Nat City Mortgage Losses to Rise
Regional bank National City Corp. said Monday after-tax losses for its mortgage banking division are likely to be close to $160 million in the third quarter. (Mon, 17 Sep 2007 11:27:28 GMT)

Get Extra Cash By Refinancing Your Car
(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? (Mon, 17 Sep 2007 11:29:44 GMT)

100 Percent Mortgage Financing Still Available in Washington and Oregon
Troubles in the U.S. mortgage industry nationwide have caused many lenders to tighten their policies and curtail many of the creative financing programs so popular among homebuyers during the recent housing boom. (Mon, 17 Sep 2007 12:00:00 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. (Mon, 17 Sep 2007 12:35:57 GMT)

Caught in a toxic mortgage
It seems surprising that Kurt and Vicki Oliver could lose their home to a bank foreclosure. They had great credit, long-term employment and excellent assets and income. (Mon, 17 Sep 2007 13:27:04 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. (Mon, 17 Sep 2007 13:46:35 GMT)

Mortgage reset shock: Not so bad
The number of adjustable rate mortgages up for reset is set to peak this fall, with an estimated $50 billion worth poised to adjust to higher rates in October. (Mon, 17 Sep 2007 13:53:00 GMT)

Bank of America (BAC) Offers New Refinancing Plans
In an likely effort to shake some life into the long-suffering housing and mortgage markets, Bank of America (BAC) has introduced new refinancing offers...( Read More ) (Mon, 17 Sep 2007 14:09:18 GMT)

BofA launches mortgage-refinance program
Bank of America Corp. is introducing a pricing program for borrowers seeking to refinance their home loans with conforming 30-year and 15-year fixed-rate loans and nonconforming 30-year fixed rate loans. (BAC) (Mon, 17 Sep 2007 14:18:38 GMT)

Merrill Cuts Jobs at First Franklin Mortgage Business (Update1)
Sept. 17 (Bloomberg) -- Merrill Lynch & Co., the securities firm that bought subprime mortgage lender First Franklin Financial Corp. nine months ago for $1.3 billion, is cutting jobs at the unit as the U.S. home-loan market swoons. (Mon, 17 Sep 2007 14:26:54 GMT)

BofA launches mortgage-refinance program
Bank of America Corp. is introducing a pricing program for borrowers seeking to refinance their home loans with conforming 30- and 15-year fixed-rate loans and nonconforming 30-year fixed-rate loans. (Mon, 17 Sep 2007 15:05:39 GMT)

Merrill Lynch to cut mortgage jobs
Merrill Lynch & Co. on Monday said it will cut jobs at its First Franklin Financial Corp. unit, which it acquired less than a year ago, as weakness in the mortgage market weighs on the lender's business. (Mon, 17 Sep 2007 15:20:30 GMT)

Merrill Lynch to Cut Mortgage Jobs
Merrill Lynch & Co. on Monday said it will cut jobs at its First Franklin Financial Corp. unit, which it acquired less than a year ago, as weakness in the mortgage market weighs on the lender's business. The world's largest brokerage, which paid $1.3... (Mon, 17 Sep 2007 15:50:04 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, 17 Sep 2007 16:08:06 GMT)

Senators Urge IRS To Relieve Tax Burden On Home Loan Debt,
Members of the US Senate Finance Committee are urging the US Treasury Department and Internal Revenue Service to take action to ensure that working families who lose their homes to foreclosure face more reasonable, accurate tax bills for their home loan debt forgiveness. (Mon, 17 Sep 2007 16:18:45 GMT)

Greenspan says tried but failed to raise U.S. mortgage rates
WASHINGTON (MarketWatch) -- Former Federal Reserve Board chairman Alan Greenspan says he tried to raise mortgage rates to head off a housing bubble, but the effort came to naught because of "global forces" that had the effect of keeping long-term interest rates low. (Mon, 17 Sep 2007 16:36:13 GMT)

Run on British mortgage lender continues
Shares of Northern Rock, one of Britain's largest mortgage lenders, tumbled another 30% Monday as customers, driven by fear of insolvency, made a run on the bank and withdrew billions. (Mon, 17 Sep 2007 17:05:57 GMT)

BofA launches mortgage-refinance program
In response to the subrime lending market problems, Bank of America Corp. is introducing a pricing program for borrowers seeking to refinance their home loans. (BAC) (Mon, 17 Sep 2007 17:07:34 GMT)

Maryland Tells Unlicensed Mortgage Firm To Shut Down
Maryland's Division of Financial Regulation has ordered Frederick C. Lee Jr. and his Georgia company, Financial Independence Group, to stop all mortgage-related business after discovering that Lee and his company were originating loans in Maryland without a license. (Mon, 17 Sep 2007 17:13:05 GMT)

Home Loan Banks Spent $360,000 Lobbying
The Council of Federal Home Loan Banks spent $360,000 to lobby the federal government in the first half of 2007, according to a disclosure form. (Mon, 17 Sep 2007 18:53:21 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Mon, 17 Sep 2007 19:00:09 GMT)

National City gloomy on 3Q mortgage loss
National City Corp. told investors Monday the third-quarter loss it expects from its mortgage division is likely to hit the high end of its projected $130 million to $160 million range. (Mon, 17 Sep 2007 19:37:19 GMT)

Beazer mortgage subsidiary lowers borrowing capacity
NEW YORK (AP) — The mortgage subsidiary of homebuilder Beazer Homes USA Inc. reduced the amount it can borrow under its mortgage warehouse line of credit, according to a Securities and Exchange Commission filing Monday. Beazer Mortgage Corp. cut the borrowing capacity of its 364-day warehouse line of credit to $17.5 million from $100 million to comply with the loan requirements, the filing said. ... (Mon, 17 Sep 2007 19:40:43 GMT)

Sector Glance: Mortgage Lenders
Shares of mortgage lenders were mixed Monday ahead of the Federal Reserve's meeting on interest rates. National City Corp., a Cleveland-based bank, said the losses in its mortgage business will be toward the high end of expectations. (Mon, 17 Sep 2007 20:19:57 GMT)

National City gloomy on 3Q mortgage loss
National City Corp. told investors Monday the third-quarter loss it expects from its mortgage division is likely to hit the high end of its projected $130 million to $160 million range. (Mon, 17 Sep 2007 20:38:35 GMT)

Gregoire announces subprime mortgage task force
A task force will look into the severity of Washington's subprime mortgage instability and possible steps to help homeowners, Gov. Chris Gregoire announced Monday. (Mon, 17 Sep 2007 20:52:08 GMT)

Shares of two more UK mortgage lenders plummet
Shares in smaller British banks suffered a sharp sell-off on Monday as analysts slashed their profit forecasts and investors worried that other institutions could suffer a fate similar to Northern Rock, the mortgage lender. (Mon, 17 Sep 2007 21:17:57 GMT)

Union Says Australian Home Loan Recommendations Don't Go Far Enough
(RTTNews) - An Australian union group says recommendations from a federal inquiry into home loan lending don't go far enough. Parliament's Economics Committee report calls for nationwide regulation of mortgage brokers and non-bank lenders at the federal level, and better data on home repossessions. (Mon, 17 Sep 2007 21:25:58 GMT)

E*Trade Cuts Earnings Estimate 25% on Mortgage Losses (Update1)
Sept. 17 (Bloomberg) -- E*Trade Financial Corp., this year's worst performer in the Amex Securities Broker-Dealer Index, slashed forecasts for 2007 profit by at least 25 percent because of bad home loans and said it will quit the wholesale mortgage business. (Mon, 17 Sep 2007 21:56:42 GMT)

E-Trade exits wholesale-mortgage business
SAN FRANCISCO (MarketWatch) -- On the eve of much-anticipated earnings reports from some of the biggest bankers in the country, discount broker E-Trade Financial Corp. said that it planned to exit the wholesale-mortgage business and also lowered its profit expectations more than 25% for the year. (Mon, 17 Sep 2007 22:36:07 GMT)

Merrill Lynch to cut mortgage jobs
Merrill Lynch & Co. on Monday said it will cut jobs at its First Franklin Financial Corp. unit, which it acquired less than a year ago, as weakness in the mortgage market weighs on the lender's business. (Mon, 17 Sep 2007 22:46:12 GMT)

E*Trade Cuts Earnings Estimate 25% on Mortgage Losses (Update3)
Sept. 17 (Bloomberg) -- E*Trade Financial Corp., this year's worst performer in the Amex Securities Broker-Dealer Index, cut its 2007 profit forecast by at least 25 percent because of bad home loans and said it will quit the wholesale mortgage business. (Mon, 17 Sep 2007 22:55:40 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? (Tue, 18 Sep 2007 01:26:51 GMT)

Six questions to ask about taking out a loan or paying one early
Americans are drowning in debt. Advice abounds to cut up the credit cards, rethink the car loan and step away from the home equity line. (Tue, 18 Sep 2007 05:16:11 GMT)

Mortgage stress on the rise in Australia-report
SYDNEY, Sept 18 - Stress levels among Australian mortgage borrowers are on the rise and potentially some 113,000 households, or 1.6 percent of the market, could be forced to sell their homes, according to an industry report released on Tuesday. (Tue, 18 Sep 2007 05:53:11 GMT)

Mortgage stress on the rise in Australia-report
SYDNEY, Sept 18 (Reuters) - Stress levels among Australian mortgage borrowers are on the rise and potentially some 113,000 households, or 1.6 percent of the market, could be forced to sell their homes, according to an industry report released on Tuesday. (Tue, 18 Sep 2007 05:54:27 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. (Tue, 18 Sep 2007 06:20:56 GMT)

Mortgage stress soaring: survey
Mortgage stress is rising dramatically and flowing into middle-class homes, survey shows. (Tue, 18 Sep 2007 07:10:39 GMT)

Mortgage woes hit E-Trade, Merrill
E-Trade cuts its profit outlook and Merrill Lynch is eliminating jobs at its sub-prime lending operation. -- Mortgage woes dealt a double whammy to the securities industry Monday as online broker E-Trade Financial Corp. slashed its 2007 profit forecast, citing losses on home-equity loans, and Merrill Lynch & Co. said it was cutting jobs at its sub-prime lending operation. (Tue, 18 Sep 2007 07:16:16 GMT)

FTSE higher as mortgage banks rebound
London equities made gains on Tuesday, led by a recovery among mortgage banks after speculation that a second lender had joined Northern Rock in seeking emergency financing from the bank of England proved groundless. (Tue, 18 Sep 2007 07:55:43 GMT)

British mortgage banks rally in mixed Europe
LONDON (MarketWatch) -- U.K. mortgage banks rallied on Tuesday after the British government guaranteed deposits at Northern Rock, although sentiment was kept in check by uncertainty before a key U.S interest rate decision and some weaker-than-expected data out from Germany. (Tue, 18 Sep 2007 08:06:07 GMT)

Fool's School Time to Refinance?
If you are struggling with a mortgage that has become hard to pay, due perhaps to an adjustable rate that adjusted itself upward more than you expected, you may want to refinance into a different, more stable, loan. After all, interest rates are still on the low side, historically speaking. You may want to consider refinancing just because current rates are lower than what you are paying. (Tue, 18 Sep 2007 08:10:24 GMT)

British mortgage banks gain as government pledges support
LONDON (MarketWatch) -- A pledge by the British government to stand behind troubled mortgage lender Northern Rock helped restore confidence in the shares of London-listed mortgage banks on Tuesday, with the broader market also moving higher. (Tue, 18 Sep 2007 09:06:07 GMT)

Firm to exit wholesale mortgage business
E-Trade Financial Corp. slashed forecasts for 2007 profit as the discount brokerage exited the wholesale mortgage business because of a slew of bad home loans. The New York company, which in recent years relied heavily on mortgage lending to power earnings, warned an already jittery Wall Street that it is not immune to the tightening of global credit markets. E-Trade ... (Tue, 18 Sep 2007 09:17:06 GMT)

1st Nations Mexico and 1st Nations Mortgage of Mexico Announce New Financing Guidelines
1st Nations Mexico and 1st Nations Mortgage of Mexico announces new guidelines for US and Canadian residents looking to develop, buy, or refinance property in Mexico. 1st Nations Mortgage of Mexico leverages unique relationships with banking and lending entities in the US and Mexico to provide industry leading loans to consumers and developers. (Tue, 18 Sep 2007 10:00:00 GMT)

1st Nations Mexico and 1st Nations Mortgage of Mexico Announce New Financing Guidelines
1st Nations Mexico and 1st Nations Mortgage of Mexico announces new guidelines for US and Canadian residents looking to develop, buy, or refinance property in Mexico. 1st Nations Mortgage of Mexico leverages unique relationships with banking and lending entities in the US and Mexico to provide industry leading loans to consumers and developers. (PRWeb Sep 18, 2007) Post Comment:Trackback URL: ... (Tue, 18 Sep 2007 10:32:14 GMT)

Fighting mortgage fraud may ease taxes
Homeowners in neighborhoods saturated with mortgage fraud could see their property taxes reduced as law enforcement gears up for a countywide crackdown on the pervasive white-collar crime, Miami-Dade County Mayor Carlos Alvarez and Glenn Theobald, chief legal counsel for the county police, said Monday. (Tue, 18 Sep 2007 11:29:16 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, 18 Sep 2007 11:45:28 GMT)

Mortgage firms close, funds still available
Mortgage lenders large and small are shutting their doors, home builders are offering incentives to help them move unsold homes, and potential home buyers are no longer being showered with pennies from heaven. (Tue, 18 Sep 2007 11:56:16 GMT)

Home Foreclosures Doubled in August on Loan Rates (Update1)
Sept. 18 (Bloomberg) -- The number of Americans who may lose their homes to foreclosure more than doubled in August from a year earlier as subprime borrowers with adjustable-rate mortgages saw their monthly payments rise, RealtyTrac Inc. said. (Tue, 18 Sep 2007 11:56:52 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, 18 Sep 2007 12:00:17 GMT)

Revisiting E-Trade's mortgage play
CHICAGO (MarketWatch) -- In the wake of E-Trade's announcement that it's exiting the wholesale-mortgage biz and slicing its earnings forecast for this year, it would seem appropriate to revisit my piece on the company from a little over a month ago headlined, "How E-Trade mortgages its past and future." (Tue, 18 Sep 2007 12:06:34 GMT)

Lehman results fall on mortgage, loan writedowns
Lehman Brothers Holdings Inc. said on Tuesday that its quarterly earnings fell 3.2 percent, the first decline since 2002, as the U.S. investment bank wrote down mortgage and leveraged loan positions. (Tue, 18 Sep 2007 12:20:43 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? (Tue, 18 Sep 2007 12:21:41 GMT)

Lehman Profit Beats Estimates as Equities Offset Mortgage Woes
Sept. 18 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, said profit fell less than expected as fees from equities trading and investment banking offset some losses from subprime home loans. (Tue, 18 Sep 2007 12:26:42 GMT)

As expected Lehman shows ''Equities Offset Mortgage Woes'' but how long can they manipulate the true picture?
The Lehman executives successfully supressed the true nature of the subprime mortgage Tsunami. The largest U.S. underwriter of mortgage-backed bonds, said profit fell less than expected as fees from equities trading and investment banking offset some losses from subprime home loans. (Tue, 18 Sep 2007 12:27:43 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, 18 Sep 2007 15:02:26 GMT)

BofA launches mortgage-refinance program
Bank of America Corp. is introducing a pricing program for borrowers seeking to refinance their adjustable rate home loans with conforming 30-year and 15-year fixed-rate loans and non-conforming 30-year fixed rate loans. (BAC) (Tue, 18 Sep 2007 15:22:59 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, 18 Sep 2007 15:43:55 GMT)

Home Foreclosures Doubled in August on Loan Rates (Update3)
Sept. 18 (Bloomberg) -- The number of Americans who may lose their homes to foreclosure more than doubled in August from a year earlier as subprime borrowers with adjustable-rate mortgages saw their monthly payments rise, RealtyTrac Inc. said. (Tue, 18 Sep 2007 16:10:33 GMT)

Mortgage crisis deepens at Impac, Accredited
The mortgage lending crisis deepened on Tuesday, as Impac Mortgage Holdings Inc said it will quit most lending and cancel its dividend, while Accredited Home Lenders Holding Co posted a big quarterly loss and said its survival remained in doubt. (Tue, 18 Sep 2007 16:38:32 GMT)

House votes to expand mortgage coverage
Bill would allow the Housing Administration to back refinanced loans for borrowers whose mortgage rates have increased sharply from low 'teaser' rates. (Tue, 18 Sep 2007 17:42:04 GMT)

Sector Glance: Mortgage Lenders
Shares of mortgage lenders were mixed in afternoon trading Tuesday after the Federal Reserve cut its target for interest rates, fueling some hope that buyers will return to distressed mortgage markets. (Tue, 18 Sep 2007 18:33:17 GMT)

HOME PAGE
IDBI cuts fixed home loan rates Mumbai, Sept. 18 IDBI Ltd cut the interest rates on fixed home loans by about 100 basis points with effect from September 1. However, the floating interest rate continues to remain unchanged. The bank has also increased rates on fixed deposits ... (Tue, 18 Sep 2007 18:54:07 GMT)

The Hindu Business Line : IDBI cuts fixed home loan rates
Mumbai, Sept. 18 IDBI Ltd cut the interest rates on fixed home loans by about 100 basis points with effect from September 1. However, the floating interest rate continues to remain unchanged. The bank has also increased rates on fixed deposits for some maturities. (Tue, 18 Sep 2007 18:57:26 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. (Tue, 18 Sep 2007 19:53:27 GMT)

House passes bill aimed at helping mortgage borrowers
WASHINGTON (MarketWatch) -- Reaching out to hard-hit borrowers in the subprime-mortgage market, the House on Tuesday passed a bill that lowers down payments for borrowers, raises loan limits and boosts funds for housing counseling. (Tue, 18 Sep 2007 20:22:09 GMT)

Summary: House passes mortgage plan
MORTGAGE HELP: The House on Tuesday approved a plan to expand federal backing of mortgages in hopes of helping struggling homeowners avoid foreclosure. (Tue, 18 Sep 2007 20:36:51 GMT)

E-Trade’s mortgage hit
E-trade finally ‘fessed up to being burned by the mortgage market. After reassuring investors repeatedly that its portfolio was solid, the online brokerage has belatedly signed up to the roster of companies disclosing heavy losses from residential mortgage exposure. (Tue, 18 Sep 2007 21:35:32 GMT)

Three Things to Know if You Want to Buy a Home Now
Money for home loans is drying up. What you need to know about getting a home loan in the current crunch. (Tue, 18 Sep 2007 21:54:22 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, 18 Sep 2007 22:16:23 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, 18 Sep 2007 22:52:25 GMT)

Greenspan Examines Federal Reserve, Mortgage Crunch
In the first half of a two-part conversation, Jim Lehrer talks with former Federal Reserve Chairman Alan Greenspan about the recent actions of the Federal Reserve, the country's mortgage crunch and his new book, "The Age of Turbulence." (Wed, 19 Sep 2007 00:29:29 GMT)

New fire chief receives $600,000 home loan from city
The San Rafael City Council has offered a $600,000 low-interest home loan to the city's new fire chief, Chris Gray. (Wed, 19 Sep 2007 01:22:38 GMT)

Miami-Dade Officials Battle Mortgage Fraud
Mortgage fraud reached epidemic levels in Florida during the real estate boom, abetted by lax lending standards, and rapidly escalating property values. The state ranks No. 1 in the nation in complaints from lenders, according to the Mortgage Asset Research Institute. (Wed, 19 Sep 2007 02:21:00 GMT)

Western Sydney feels home loan pinch: ANZ
ANZ Bank said today home loan defaults are in line with expectations, though mortgage arrears are higher in isolated pockets such as western Sydney. (Wed, 19 Sep 2007 02:45:00 GMT)

Western Sydney feels home loan pinch: ANZ
ANZ Bank said today home loan defaults are in line with expectations, though mortgage arrears are higher in isolated pockets such as western Sydney. (Wed, 19 Sep 2007 02:45:00 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? (Wed, 19 Sep 2007 04:27:10 GMT)

HOME EQUITY LOAN
School tuition, loan consolidation, home improvement cash or vacation plans don’t have to wait for next year. (Wed, 19 Sep 2007 05:48:18 GMT)

Metro Greenville ranked among worst in mortgage lending disparities
The Greenville metropolitan area was among the nation's worst for mortgage lending disparities based on race, according to a report from a nonprofit Washington D.C.-based group advocating stronger lending laws. (Wed, 19 Sep 2007 05:48:19 GMT)

Local home loan office closes
BELLINGHAM — First Horizon Home Loans has closed its Bellingham office as part of a company-wide effort at consolidation. The company, based in Irving, Texas, closed its office at 1301 W. Bakerview Road on Friday, said Bob Rusch, district operations manager for First Horizon. (Wed, 19 Sep 2007 07:05:11 GMT)

San Rafael offers new fire chief a $600,000 home loan
The San Rafael City Council has offered a $600,000 low-interest home loan to the city's new fire chief, Chris Gray. (Wed, 19 Sep 2007 07:08:55 GMT)

House votes mortgage help
Measure allows FHA refinancing of delinquent loans, lifts limits The House approved a plan yesterday to expand federal backing of mortgages in hopes of helping tens of thousands of struggling homeowners avoid foreclosure. (Wed, 19 Sep 2007 07:52:40 GMT)

House votes to expand FHA reach on mortgage grants
House votes to expand FHA reach on mortgage grants (Wed, 19 Sep 2007 08:22:23 GMT)

Financial Plus Federal CU licenses FICS mortgage technology
Financial Industry Computer Systems (FICS), a mortgage technology specialist that provides in-house residential origination and servicing technology ... (Wed, 19 Sep 2007 08:31:00 GMT)

Mortgage volume up 2.4% last week: MBA
CHICAGO (MarketWatch) -- The volume of mortgage application filings rose a seasonally adjusted 2.4% last week even as interest rates for home loans increased, the Mortgage Bankers Association said on Wednesday. (Wed, 19 Sep 2007 11:21:42 GMT)

Mortgage Application Volume Rises
Mortgage application volume increased 2.4 percent for the week ending Sept. 14, according to trade group the Mortgage Bankers Association. (Wed, 19 Sep 2007 11:42:56 GMT)

Ahead of the Bell: Mortgage Insurers
A Bear Stearns analyst said Wednesday short-sellers in the mortgage insurance industry could face a squeeze now that the Federal Reserve has cut its target for interest rates. (Wed, 19 Sep 2007 11:46:34 GMT)

Mortgage applications up
The Mortgage Bankers Association says the number of mortgage applications rose last week despite increased interest rates. (Wed, 19 Sep 2007 12:26:54 GMT)

Refinancing hopes push up mortgage demand
Applications for home mortgages climbed for a third straight week as more borrowers sought to refinance loans on which payments may be about to rise, an industry group said Wednesday. (Wed, 19 Sep 2007 12:28:40 GMT)

Mortgage applications rise 2.4%
Mortgage applications in the U.S. rose 2.4 percent last week, led by gains in refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan rose to 673.2 from 657.4 the prior week. (Wed, 19 Sep 2007 12:49:50 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, 19 Sep 2007 13:17:41 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, 19 Sep 2007 13:19:52 GMT)

Home loan lending to tighten
WIZARD Home Loans founder Mark Bouris predicted yesterday that home lenders in Australia would tighten up their policies in the wake of the US home loan crisis. (Wed, 19 Sep 2007 14:00:00 GMT)

Home loan lending to tighten
WIZARD founder Mark Bouris predicted yesterday that home lenders in Australia would tighten up their policies in the wake of the US home loan crisis. (Wed, 19 Sep 2007 14:00:00 GMT)

Mayor Launches Mortgage Fraud Task Force
Miami-Dade County Mayor Carlos Alvarez is launching a task force to combat the growing number of mortgage fraud reports in the county. (Wed, 19 Sep 2007 14:31:21 GMT)

City to loan LaCasa $500,000
The Goshen City Council Tuesday night voted 6-0 to loan $500,000 to LaCasa of Goshen to purchase and rehabilitate homes and return them to home ownership. (Wed, 19 Sep 2007 14:37:36 GMT)

American Home, Freddie Mac resolve dispute
NEW YORK, Sept 19 - Bankrupt home loan company American Home Mortgage Investment Corp and Freddie Mac have resolved a dispute that the latter said could have cost thousands of people their homes. (Wed, 19 Sep 2007 14:55:23 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, 19 Sep 2007 15:00:08 GMT)

Refi attempts drive up mortgage applications
WASHINGTON – Mortgage applications nationwide rose last week, led by an increase in refinancing applications, according to a report today from the Mortgage Bankers Association. (Wed, 19 Sep 2007 15:51:58 GMT)

How to Make the Most From Refinancing
The conventional wisdom may be wrong. (Wed, 19 Sep 2007 16:15:56 GMT)

Regulators ease limits on Fannie Mae's mortgage
Washington — The government nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac today in an effort to alleviate strain in the mortgage market. (Wed, 19 Sep 2007 16:27:25 GMT)

Mortgage rate regulator lifts cap
The federal regulator of Fannie Mae and Freddie Mac, reversing a decision from last month, is giving the two mortgage-finance giants the ability to increase the holdings in their mortgage portfolios and better manage those portfolios in an effort to help boost the sluggish residential mortgage market and weakening housing sector. (FNM) (FRE) (Wed, 19 Sep 2007 16:47:58 GMT)

Refinancing Boosts Mortgage Applications
Mortgage applications rose for the third straight week; refinancings accounted for 43.5 percent of all applications last week (Wed, 19 Sep 2007 16:51:32 GMT)

Butte Community Bank Launches Online Home Loan Center
Butte Community Bank today announced the launch of their online Home Loan Center with secure mortgage application. The powerful new functionality gives users the ability to research interest rates, compare loan products and even apply for a mortgage online. (Wed, 19 Sep 2007 17:21:00 GMT)

Villa star explains loan choice: Express & Star
Gary Cahill today outlined why he has decided to leave Villa and go on loan to Sheffield United. Cahill said he wanted play for Villa but has settled for first team football elsewhere with a return to his home town, where he will also link up with former Villa team-mate Lee Hendrie. (Wed, 19 Sep 2007 17:32:06 GMT)

GE to book 950 mln dlr loss on mortgage unit
General Electric expects to report a 950 million-dollar loss for the first nine months of 2007 at its subprime mortgage unit that it plans to close, a spokesman for the conglomerate said Wednesday. (Wed, 19 Sep 2007 17:42:43 GMT)

Mortgage insurers aided by regulatory moves
Mortgage insurers' shares rose on Wednesday as investors saw them benefiting from regulatory moves that will boost their business. (Wed, 19 Sep 2007 18:07:38 GMT)

Sector Snap: Mortgage Lenders
Shares of mortgage lenders continued surging Wednesday a day after the Federal Reserve cut its target for interest rates. (Wed, 19 Sep 2007 18:38:51 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. (Wed, 19 Sep 2007 23:52:16 GMT)

Paulson Considering Mortgage Change
WASHINGTON -- Shifting course, Treasury Secretary Henry Paulson planned to tell Congress that the Bush administration would consider allowing the big mortgage companies Fannie Mae and Freddie Mac to temporarily buy, bundle and sell as securities loans exceeding $417,000. (Wed, 19 Sep 2007 23:52:22 GMT)

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