Mortgage News Sep 2007

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An opportunity to refinance
VICTORVILLE — A lower prime rate — resulting from Tuesday’s interest rate cut — may present an opportunity for homeowners to refinance their way out of a precarious mortgage, said a local mortgage official. (Thu, 20 Sep 2007 00:32:49 GMT)

Paulson considering mortgage change
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. (Thu, 20 Sep 2007 00:34:14 GMT)

US loan crisis could hurt growth, warns German minister
The US home loan crisis could damage German growth by pushing up the euro and crimping exports from the biggest eurozone economy, German Economy Minister Michael Glos warned in an interview yesterday. (Thu, 20 Sep 2007 00:42:12 GMT)

Fannie, Freddie get the OK to boost loan portfolios
The Bush administration reversed policy Wednesday, allowing Fannie Mae and Freddie Mac, the two largest sources of money for U.S. home loans, to expand their investments in an effort to make mortgages easier to get. The Office of Federal Housing Enterprise Oversight (OFHEO) will permit Fannie Mae and Freddie Mac to boost their loan portfolios by about 2 percent a year beyond a cap of about $1.5 ... (Thu, 20 Sep 2007 01:44:58 GMT)

Mortgage rates won't fall soon
Don't expect mortgage rates to fall now that the Federal Reserve has cut interest rates, though they may drift downward over time. (Thu, 20 Sep 2007 01:48:43 GMT)

Macquarie Bank Plans Mortgage-Backed Bond Sale, People Say
Sept. 20 (Bloomberg) -- Macquarie Bank Ltd. is planning the first sale of mortgage-backed bonds in Australia in two months, tapping a market shut down by the U.S. subprime mortgage rout. (Thu, 20 Sep 2007 02:57:02 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, 20 Sep 2007 03:15:38 GMT)

Late Mortgage Payments Continue to Climb
Mortgage delinquencies jumped again in August, according to new data from Equifax and Moody's Economy.com. The data provide the first big-picture look at how the credit crunch is hitting homeowners. (Thu, 20 Sep 2007 04:07:51 GMT)

Why home loan insurance is good
The choice for the home buyer is clear - either get adequate life cover or a mortgage insurance product. (Thu, 20 Sep 2007 04:15:50 GMT)

Mortgage firm goes bust
Creative refinancing contracts devised by a Reading-based mortgage broker have unraveled, leaving 800 customers on the hook for higher payments and possible foreclosure on their homes.Wesley A. Snyder filed for Chapter 7 bankruptcy protection Tuesday for OPFM Inc., which he operated as Per... (Thu, 20 Sep 2007 04:44:53 GMT)

Company That Specializes in Fast Mortgages Warns Homeowners to Start Refinancing Search Early
Fast Mortgage Loan Approval (FastMLA) warns that with stricter lending practices, homeowners that need to refinance should start their search early. FastMLA can now help homeowners, from all 50 states, refinance their adjustable rate mortgage into a fixed rate loan. (Thu, 20 Sep 2007 07:01:00 GMT)

Company That Specializes in Fast Mortgages Warns Homeowners to Start Refinancing Search Early
Fast Mortgage Loan Approval (FastMLA) warns that with stricter lending practices, homeowners that need to refinance should start their search early. FastMLA can now help homeowners, from all 50 states, refinance their adjustable rate mortgage into a fixed rate loan. (PRWeb Sep 20, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/Q291cC1FbXB0LVNxdWEtTWFnbi1UaGlyLVplcm8= (Thu, 20 Sep 2007 07:16:40 GMT)

Net Worth: Mortgage insurance has often gotten piggybacked away
I've been getting questions recently on mortgage insurance and figured this is a good day to answer some of them. Patricia P. asks, "Would you comment on the role of mortgage insurance in connection with the troubles in the mortgage market. Does mortgage... (Thu, 20 Sep 2007 07:24:34 GMT)

Paulson considering mortgage change
As Congress weighs remedies for the mortgage-market crisis, Treasury Secretary Henry Paulson is signaling 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. (Thu, 20 Sep 2007 07:34:34 GMT)

Fannie, Freddie mortgage caps rise
The government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market. (Thu, 20 Sep 2007 07:35:29 GMT)

Paulson Considering Mortgage Change
WASHINGTON -- As Congress weighs remedies for the mortgage-market crisis, Treasury Secretary Henry Paulson is signaling 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. (Thu, 20 Sep 2007 08:20:03 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, 20 Sep 2007 09:15:05 GMT)

Mortgage lending slows down
Mortgage lending slowed down slightly in August, says the Council of Mortgage Lenders. (Thu, 20 Sep 2007 09:24:40 GMT)

A home loan or Satrix?
Question: I have R50 000 that I would like to invest, however I still have R800 000 outstanding on my home loan. I am not sure whether I should invest this into a product like Satrix, or keep this in my home loan which is at prime minus two percent. I do have other smaller investments. (Thu, 20 Sep 2007 09:33:07 GMT)

Net mortgage lending grows in August
Net mortgage lending in the UK rose by £6.1bn in August, just shy of a new record, as borrowers shrugged off turmoil in financial markets. (Thu, 20 Sep 2007 10:30:06 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. (Thu, 20 Sep 2007 10:51:41 GMT)

Home-loan investment caps raised
WASHINGTON -- The government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market. (Thu, 20 Sep 2007 10:53:16 GMT)

Bankrate: Mortgage Rates Inch Upward
Fixed mortgage rates were slightly higher this week, with the average conforming 30-year fixed mortgage rate rising to 6.32 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.34 discount and origination points. (Thu, 20 Sep 2007 11:30:00 GMT)

Bankrate: Mortgage Rates Inch Upward
NEW YORK, Sept. 20 /PRNewswire-FirstCall/ -- Fixed mortgage rates were slightly higher this week, with the average conforming 30-year fixed mortgage rate rising to 6.32 percent. (Thu, 20 Sep 2007 11:38:51 GMT)

Subprime mortgage lending and mitigating foreclosures
Chairman Frank, Ranking Member Bachus, and members of the Committee, I am pleased to appear before you to discuss the origins of the problems in the subprime-mortgage market and the response of the Federal Reserve to these developments. (Thu, 20 Sep 2007 12:39:59 GMT)

Pa. Mortgage Broker Files for Bankruptcy
A Berks County mortgage broker and its five subsidiaries filed for bankruptcy this week, affecting more than 800 customers who face higher payments on their home loans. (Thu, 20 Sep 2007 12:46:25 GMT)

GE Money-Wizard Home Loans JV to invest $200 million in India
New Delhi, Sep 20 (IANS) Wizard India, a home loan joint venture between GE Money, General Electric's financial services arm, and Australian mortgage major Wizard Home Loans, will invest $200 million by 2011 in India, the companies announced here Thursday. (Thu, 20 Sep 2007 14:54:44 GMT)

Fed Chief Testifies on Mortgage Rules
Ben S. Bernanke?s call for consideration of stricter regulation of mortgage lending practices signals a shift from regulatory policy over the past several years. (Thu, 20 Sep 2007 14:55:39 GMT)

Mortgage rates creep up
Mortgage rates rose slightly in the latest week, but remained near recent lows, Freddie Mac reported Thursday. (Thu, 20 Sep 2007 14:57:04 GMT)

Long-term U.S. mortgage rates inch higher
CHICAGO (MarketWatch) -- Long-term mortgage rates moved slightly higher this week, with the 30-year fixed rate averaging 6.34%, up from last week's 6.31% average, according to Freddie Mac's weekly survey released on Thursday. (Thu, 20 Sep 2007 15:06:17 GMT)

Bernanke assures Hill on mortgage hit
Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. (Thu, 20 Sep 2007 15:49:49 GMT)

Fed Chairman Bernanke offers Congress assurances on mortgage crisis
Federal Reserve Chairman Ben Bernanke told Congress today that the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. (Thu, 20 Sep 2007 16:30:43 GMT)

UPDATE: Fed Chief Bernanke Predicts Further Mortgage Turmoil
WASHINGTON (Dow Jones) -- More delinquencies and foreclosures can be expected in the subprime, adjustable-rate mortgage market as borrowers face interest-rate resets, Federal Reserve Chairman Ben Bernanke said Thursday. (Thu, 20 Sep 2007 16:57:27 GMT)

Bernanke assures Hill on mortgage hit
Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. (Thu, 20 Sep 2007 17:06:59 GMT)

SEC details look at mortgage market woes
The government is casting a wide net in its scrutiny of Wall Street banks, investors, credit-rating agencies and others and the role they played in the subprime mortgage crisis. (Thu, 20 Sep 2007 17:33:15 GMT)

Fed, Treasury see boost in easing mortgage rules
WASHINGTON (Reuters) - The top two U.S. economic policymakers told Congress on Thursday that allowing the biggest home finance companies to buy larger loans could ease mortgage market strains, but should be coupled with tighter regulation of the firms. (Thu, 20 Sep 2007 18:17:09 GMT)

Retailers Face Mortgage Problems Risk
Warehouse club operator Costco Wholesale Corp., department-store owner Nordstrom Inc. and others are among the most exposed retailers to widening mortgage problems, a Morgan Stanley analyst said. (Thu, 20 Sep 2007 18:48:15 GMT)

Fed, Treasury see boost in easing mortgage rules
The top two U.S. economic policymakers told Congress on Thursday that allowing the biggest home finance companies to buy larger loans could ease mortgage market strains, but should be coupled with tighter regulation of the firms. (Thu, 20 Sep 2007 19:25:46 GMT)

TCW CDOs Dump $3.2 Billion of Mortgage Securities (Update1)
Sept. 20 (Bloomberg) -- -- TCW Asset Management, the money manager owned by France's Societe Generale SA, is selling $3.2 billion of mortgage securities backing collateralized debt obligations after the value of the bonds fell. (Thu, 20 Sep 2007 19:56:52 GMT)

TCW CDOs Dump $3.2 Billion of Mortgage Securities (Update2)
Sept. 20 (Bloomberg) -- TCW Asset Management, the money manager owned by France's Societe Generale SA, is selling $3.2 billion of mortgage securities backing collateralized debt obligations after the value of the bonds fell. (Thu, 20 Sep 2007 20:27:23 GMT)

SEC Details Look at Mortgage Market Woes
WASHINGTON -- The government is casting a wide net in its scrutiny of Wall Street banks, investors, credit-rating agencies and others and the role they played in the subprime mortgage crisis. (Thu, 20 Sep 2007 20:50:22 GMT)

GE lays foundation for home loan rivalry
New Delhi, Sept. 20: Consumer finance company GE Money today said it would offer floating rate home loans at 9.99 per cent. (Thu, 20 Sep 2007 21:55:50 GMT)

Google sees Web search less exposed to mortgage woes
U.S. mortgage lenders are cutting advertising budgets due to a global credit squeeze, but they are not likely to reduce Internet search marketing anytime soon, executives at search leader Google Inc said on Thursday. (Thu, 20 Sep 2007 22:21:38 GMT)

TCW CDOs Dump $3.2 Billion of Mortgage Securities (Update3)
Sept. 20 (Bloomberg) -- TCW Asset Management, the money manager owned by France's Societe Generale SA, is selling $3.2 billion of mortgage securities backing collateralized debt obligations after the value of the bonds fell. (Thu, 20 Sep 2007 22:26:42 GMT)

Macquarie Sells A$500 Million of Mortgage-Backed Debt (Update1)
Sept. 21 (Bloomberg) -- Macquarie Bank Ltd. sold Australia's first mortgage-backed bonds in two months, re-opening the market by offering increased returns to investors on A$500 million ($431 million) of debt. (Fri, 21 Sep 2007 00:25:18 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 21 Sep 2007 00:42:19 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, 21 Sep 2007 01:15:54 GMT)

KCRA 3 Investigates: Mortgage Lenders Apparently Operating Through Loophole
The alleged mortgage fraud exposed by KCRA 3 is having a direct effect on property values in Elk Grove. (Fri, 21 Sep 2007 01:29:45 GMT)

Accord Seen on Revising Mortgage Rules
The Bush administration is softening its opposition to proposals to expand government-backed mortgage companies ahead of an expect wave of foreclosures. (Fri, 21 Sep 2007 02:10:39 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, 21 Sep 2007 02:15:44 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, 21 Sep 2007 04:21:56 GMT)

Mortgage crisis puts drag on area home sales
Houston-area home sales dipped in August as the national mortgage crisis continued to affect portions of the local housing market. While the overall decline was minimal, sales in the market's largest segment, homes priced between $80,000 and $150,000, were down almost 13 percent, according to the Houston Association of Realtors. (Fri, 21 Sep 2007 06:06:30 GMT)

For subprime borrowers, there's no lifeline in sight
As many as half of the 450,000 subprime borrowers whose mortgage payments will rise in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government. (Fri, 21 Sep 2007 07:15:46 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, 21 Sep 2007 08:15:18 GMT)

Macquarie Boosts Mortgage-Backed Bond Sale by 67% (Update3)
Sept. 21 (Bloomberg) -- Macquarie Bank Ltd. increased the sale of mortgage-backed bonds by 67 percent to A$500 million ($435 million), restoring investor confidence in a market shuttered by the U.S. housing slump. (Fri, 21 Sep 2007 10:11:32 GMT)

Mortgage Downturn No Problem For Google
Concerns that have hammered the mortgage lending market and its ad budgets won't trickle down to Google, or what lenders spend on Internet advertising. Google has built several fortunes on the strength of its effective contextual advertising program. It's so strong that the company believes mortgage lenders, among the biggest spenders in online advertising, will cling to paid search as long ... (Fri, 21 Sep 2007 10:18:08 GMT)

Home News in Brief: Loan sharks take new car
GEORGE TOWN: A factory operator who helped her brother secure a loan to buy a RM154,000 car has found herself in deep trouble. (Fri, 21 Sep 2007 10:58:32 GMT)

Fed's cut won't affect mortgage rates directly
Yes, the Federal Reserve cut short-term rates. No, that doesn't mean that mortgage rates will inevitably go down, especially in the short term. ... (Fri, 21 Sep 2007 11:44:03 GMT)

Retiring with a mortgage? It’s manageable
It’s an increasingly common dilemma: You want to retire – but you haven’t yet retired your mortgage. (Fri, 21 Sep 2007 14:00:40 GMT)

Saints land Dailly on loan deal
Championship club Southampton have clinched the signing of West Ham defender Christian Dailly on a one-month loan deal.The Scotland international could extend his stay at St Mary's and will be available for Saturday's home clash against Barnsley. (Fri, 21 Sep 2007 15:00:06 GMT)

HSBC Shuts Down Subprime Mortgage Unit
HSBC Finance Corp., a unit of HSBC Holdings Plc., said Friday it will close its wholesale mortgage lender Decision One Mortgage. (Fri, 21 Sep 2007 15:19:48 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 21 Sep 2007 15:25:19 GMT)

GE introducing home loans at lowest rates
GE money has launched a home loan product with a floating rate of 9.99%. (Fri, 21 Sep 2007 16:11:30 GMT)

HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update1)
Sept. 21 (Bloomberg) -- HSBC Holdings Plc said it will close its Decision One subprime mortgage unit in the U.S., eliminating 750 jobs. Employees in Fort Mill, South Carolina, Phoenix and Charlotte, North Carolina, will be affected, London-based HSBC said in a statement today. (Fri, 21 Sep 2007 16:12:12 GMT)

HSBC shuts Decision One Mortgage unit, takes $880 mln charge
SAN FRANCISCO (MarketWatch) -- HSBC Holdings said on Friday that it's shutting one of its U.S. subprime mortgage businesses, a move that will trigger an $880 million accounting hit and $65 million in costs for the bank's HSBC Finance division. (Fri, 21 Sep 2007 16:36:11 GMT)

HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update2)
Sept. 21 (Bloomberg) -- HSBC Holdings Plc, Europe's biggest bank, said it will close its Decision One subprime mortgage unit in the U.S., eliminating 750 jobs. (Fri, 21 Sep 2007 16:42:02 GMT)

Ross to Buy American Home Loan Unit for $435 Million (Update1)
Sept. 21 (Bloomberg) -- Wilbur L. Ross Jr., who helped pioneer investing in bankrupt companies, offered to pay at least $435 million for the servicing unit of American Home Mortgage Investment Corp., one of at least 16 lenders in bankruptcy. (Fri, 21 Sep 2007 17:11:55 GMT)

House panel weighs tax relief on mortgage debt
Homeowners who lose their house to foreclosure would no longer face a federal tax bill for their unpaid mortgage debt under a bill being drafted in U.S. House of Representatives, a congressional aide said on Friday. (Fri, 21 Sep 2007 17:32:28 GMT)

£1m mortgage fraud doctor jailed
A newly-qualified doctor is jailed for trying to carry out a £1m mortgage fraud to help solve his financial problems. (Fri, 21 Sep 2007 17:54:23 GMT)

£1m mortgage fraud doctor jailed
A newly-qualified doctor is jailed for trying to carry out a £1m mortgage fraud to help solve his financial problems. (Fri, 21 Sep 2007 18:00:41 GMT)

HSBC to close US subprime mortgage unit
HSBC Holdings, the British-based banking giant, announced Friday it will close its subprime mortgage subsidiary in the United States, saying it was "no longer sustainable." (Fri, 21 Sep 2007 18:45:20 GMT)

Peter G. Miller: Fees for some who refinance are capped under a federal law
Q: I'm a licensed mortgage broker. This question was brought to my attention by another broker, and I need clarification. I'm not sure if they are interpreting incorrectly or if this is fact. (Fri, 21 Sep 2007 19:16:15 GMT)

HDFC may cut home loan rates
Mumbai, Sept. 21 Housing Development Finance Corporation Ltd is expected to slash interest rates on home loans next week. Ms Renu Karnad, Executive Director, HDFC, said that the housing finance major had seen a 50 basis point reduction in its cost of funds, against last month. (Fri, 21 Sep 2007 19:29:28 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, 21 Sep 2007 19:30:05 GMT)

Home loan rates will come down
AFTER SOARING for about two years, home loan rates are slowly touching down.HDFC on Friday gave home buyers another reason to cheer by deciding to slash its rates next week. (Fri, 21 Sep 2007 19:35:00 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? (Fri, 21 Sep 2007 19:44:33 GMT)

HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update4)
Sept. 21 (Bloomberg) -- HSBC Holdings Plc, the U.K. bank that was among the first to disclose soured U.S. home loans seven months ago, will shut its Decision One subprime mortgage unit and eliminate 750 jobs. (Fri, 21 Sep 2007 19:56:42 GMT)

Sector Glance: Mortgage Lenders
Shares of mortgage lenders rose Friday to close a week in which the market gained a little more perspective on the direction of the credit markets. (Fri, 21 Sep 2007 20:13:11 GMT)

HSBC to close US subprime mortgage unit
HSBC Holdings, the British-based banking giant, announced Friday it will close its subprime mortgage subsidiary in the United States, saying it was "no longer sustainable." (Fri, 21 Sep 2007 20:16:46 GMT)

Hint of home loan rate cut
Mumbai, Sept. 21 : HDFC Ltd, the biggest player in the home loan segment, may reduce its interest rates next week as the cost of funds has come down. (Fri, 21 Sep 2007 21:28:33 GMT)

Mortgage data leaked over file network
Three spreadsheets containing more than 5,000 Social Security numbers and other personal details about customers of ABN Amro Mortgage Group were inadvertently leaked over an online file-sharing network by a former employee. (Fri, 21 Sep 2007 21:36:15 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Fri, 21 Sep 2007 22:06:35 GMT)

Home loan rates all set to come down
After soaring for about two years, home loan rates are coming down. HDFC on Friday decided to make cuts next week. (Fri, 21 Sep 2007 22:13:13 GMT)

Westsound Bank cuts 33 jobs in mortgage downturn
Bremerton-based WSB Financial Group, parent company for Westsound Bank and Mortgage, said Friday it is eliminating 33 jobs in its mortgage... (Fri, 21 Sep 2007 22:14:50 GMT)

Billionaire eyes American Home Mortgage unit
In what could be the beginning of the end for American Home Mortgage, billionaire financier Wilbur Ross Jr. has offered to pay up to $435 million for the company's loan servicing division, which is its only operational business unit. (Fri, 21 Sep 2007 23:03:43 GMT)

Decision One Mortgage closes Phoenix office
London's HSBC Finance Corp. is closing a non-prime mortgage lending unit, affecting an undisclosed number of jobs at an office in Phoenix (Sat, 22 Sep 2007 00:25:31 GMT)

Mortgage rates don't follow Fed
Yes, the Federal Reserve cut short-term rates. No, that doesn't mean that mortgage rates will inevitably go down, especially in the short term. (Sat, 22 Sep 2007 01:03:27 GMT)

Standards For 'Jumbo' Home Loans Increase
The fallout of the subprime mortgage crisis is making it more difficult for Bay Area home buyers to receive financing for a jumbo loan. (Sat, 22 Sep 2007 02:03:55 GMT)

HDFC may cut home loan rates next week
Interest rates on housing loans look set to follow the downhill route. HDFC, the biggest player in the home loan segment, may cut home loan rates next week. The housing major says the cost of funds has come down by half a per cent over last month. (Sat, 22 Sep 2007 06:31:13 GMT)

The battle of the little big thorn: subprimes
As many as half the 450,000 subprime borrowers whose mortgage payments will rise in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government. (Sat, 22 Sep 2007 06:56:25 GMT)

WSG Financial's mortgage division to lose 33 jobs
Pacific Northwest Bremerton-based WSB Financial Group, parent company for Westsound Bank & Mortgage, said Friday it is eliminating 33... (Sat, 22 Sep 2007 07:15:07 GMT)

Billionaire dives into mortgage business
WILMINGTON, Del. — Wilbur L. Ross Jr., who became a billionaire by investing in bankrupt steel companies, offered to pay at least $435 million for a division of American Home Mortgage Investment Corp. and said he plans to "get into all aspects of the mortgage industry." (Sat, 22 Sep 2007 08:06:50 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Sat, 22 Sep 2007 09:14:51 GMT)

'King of Bankruptcy' bids for mortgage firm's service unit
WILMINGTON, Del. - Wilbur L. Ross Jr., who became a billionaire by investing in bankrupt steel companies, offered to pay at least $435 million for a unit of American Home Mortgage Investment Corp. and said he plans to "get into all aspects of the mortgage industry." (Sat, 22 Sep 2007 09:32:25 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. (Sat, 22 Sep 2007 10:56:51 GMT)

Welcome to los-portales.com
Countrywide® Home Loans No Closing Cost Refinance Loan . Ask the Experts at Countrywide®. www.Countrywide.com Home Mortgage Loans Stop Guessing What You Can Afford. Call or Chat Online with an Expert. (Sat, 22 Sep 2007 14:47:51 GMT)

If mortgage firm collapse hurt you, call prosecutor
The state's top prosecutor wants to hear from victims of the collapse of the Personal Financial Management mortgage company. Attorney General Tom Corbett today urged affected consumers to file formal complaints with his office, to aid an investigation of the business by his office, and to notif... (Sat, 22 Sep 2007 15:59:53 GMT)

Guess Who?s Feeling the Mortgage Pain
Nine months into the meltdown of the home loan market, investors are still waiting for banks, brokerage firms and other companies to come clean on losses. (Sat, 22 Sep 2007 18:38:03 GMT)

Bob Bruss: Active military duty blocks mortgage lender from foreclosing
A mortgage lender cannot foreclose if the borrower is on active military duty. The homeowner should consult her unit's legal officer for assistance. (Sat, 22 Sep 2007 18:44:31 GMT)

Doctor jailed for mortgage fraud
A newly-qualified doctor has been jailed for 27 months for attempting to carry out a £1million mortgage fraud. Abid Haider, 27, paid £16,000 for false identity documents he found on the internet to apply for loans across Britain. (Sat, 22 Sep 2007 19:00:00 GMT)

Doctor jailed for mortgage fraud
A newly-qualified doctor has been jailed for 27 months for attempting to carry out a £1million mortgage fraud. Abid Haider, 27, paid £16,000 for false identity documents he found on the internet to apply for loans across Britain. (Sun, 23 Sep 2007 01:45:00 GMT)

HSBC set to close its US subprime mortgage unit
HSBC Holdings, the British-based banking giant, on Friday announced it will close its subprime mortgage subsidiary in the US, saying it was "no longer sustainable." (Sun, 23 Sep 2007 01:52:15 GMT)

HSBC Finance mortgage-lending unit to close
London's HSBC Finance Corp. is closing a non-prime mortgage-lending unit, affecting an undisclosed number of jobs at an office in Phoenix. (Sun, 23 Sep 2007 03:10:38 GMT)

Home loan workouts not without problems
Will "subprime" loan workouts really work out? They're aimed at helping troubled homeowners by modifying mortgages to stave off foreclosure; lenders and servicers essentially agree to new and more forgiving terms to get their money paid back. (Sun, 23 Sep 2007 04:31:14 GMT)

Home Headaches?
Housing groups advise anyone at risk of foreclosure to contact the lender to try to arrange new loan terms, called "mortgage modifications" or "workouts." FREE SERVICES Acorn Housing Corp.: 651-203-0008; www.acornhousing.org Minnesota Home Ownership Center: 651-659-9336; www.hocmn.org Homeowners Help Line: 1-888-995-4673 HUD-Approved Counseling Agencies: www.startribune.com/a3367 Borrowers ... (Sun, 23 Sep 2007 04:45:18 GMT)

Houston mortgage monitor
The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. (Sun, 23 Sep 2007 05:49:28 GMT)

How to Have the Right Online Mortgage Broker
Thinking of taking a mortgage? Usually, most people want to have their own home, so they look for ways to achieve their goals and having a mortgage can aid them to have the home they want. (Sun, 23 Sep 2007 06:27:18 GMT)

NAMP and FHA Online University Team up to Educate Mortgage Professionals about the New FHASecure Initiative
The National Association of Mortgage Processors (NAMP) is offering online classes through FHA Online University to enable mortgage professionals help borrowers through the recently developed FHASecure initiative. Through FHA Online University's FHASecure course, borrowers with good credit will be able to rebound from the strains of the currently volatile mortgage market. (Sun, 23 Sep 2007 07:01:00 GMT)

NAMP and FHA Online University Team up to Educate Mortgage Professionals about the New FHASecure Initiative
The National Association of Mortgage Processors (NAMP) is offering online classes through FHA Online University to enable mortgage professionals help borrowers through the recently developed FHASecure initiative. Through FHA Online University's FHASecure course, borrowers with good credit will be able to rebound from the strains of the currently volatile mortgage market. (PRWeb Sep 23, 2007) ... (Sun, 23 Sep 2007 07:09:14 GMT)

AT ISSUE: HOME LOANS: Bailout won't stop subprime blowup
As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government. (Sun, 23 Sep 2007 07:10:34 GMT)

Be wary of prepayment penalties
Question: I made a huge mistake recently when refinancing my house. I did a first mortgage that is interest-only for 10 years with a three-year prepayment penalty of six months of interest unless we sell after one year, then no prepayment penalty. (Sun, 23 Sep 2007 07:14:50 GMT)

Tips for dealing with an adjustable-rate mortgage
A state task force wants to help those with ARMs stave off foreclosure. If you bought your home within the past three years or so, you might want to pull out your mortgage documents and double-check the terms. (Sun, 23 Sep 2007 07:15:40 GMT)

Mopping up the mortgage mess
WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress late last week the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. (Sun, 23 Sep 2007 07:16:10 GMT)

Mortgage woes could hurt company's bottom line
Will the credit crunch ignited by the crumbling mortgage market put a damper on consumer spending for such luxury items as large-screen, flat-panel televisions? (Sun, 23 Sep 2007 07:18:38 GMT)

Default wave poised to crash in next quarter
As many as half of the 450,000 subprime borrowers whose mortgage payments will rise in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government. (Sun, 23 Sep 2007 07:25:36 GMT)

THE MORTGAGE HANDOFF
With lenders struggling and home loans shuffling, it's up to homeowners to keep tabs on their mortgages John Woodard says the notice from his new mortgage company looked like typical junk mail. (Sun, 23 Sep 2007 07:33:08 GMT)

As mortgage rates adjust, some find a heavy burden
Come next month, some of the cheap loans that got U.S. buyers into homes they might not have otherwise been able to afford are expected to get far less cheap. (Sun, 23 Sep 2007 08:31:11 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. (Sun, 23 Sep 2007 08:42:01 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. (Sun, 23 Sep 2007 09:45:48 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, 23 Sep 2007 10:14:43 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, 23 Sep 2007 10:14:54 GMT)

Some in debt elect to pay credit bills over mortgage
NEW YORK -- The proliferation of no-money-down home loans during the past few years, coupled with the current housing downturn, is giving rise to a new way of thinking: People will risk losing their homes while doing everything to keep their credit cards. (Sun, 23 Sep 2007 10:16:09 GMT)

Retiring With A Mortgage? Here's What You Should Do
As more people retire with the burden of an unpaid mortgage, new financial issues arise. (Sun, 23 Sep 2007 10:20:28 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, 23 Sep 2007 10:37:23 GMT)

Investing inheritance better idea than paying off mortgage
Dear Rick: I'm 30 years old and just inherited $25,000. My dad says I should invest the money. My mother thinks I ought to pay down my mortgage. I owe approximately $100,000 on my mortgage at 5 percent. What do you recommend? (Sun, 23 Sep 2007 11:10:57 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 23 Sep 2007 11:15:05 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." (Sun, 23 Sep 2007 11:52:40 GMT)

HSBC shuts US mortgage lending unit
HSBC continued the restructuring of its US mortgage business, which has suffered heavy losses on sub-prime loans, by announcing the closure of its wholesale lending arm with the loss of 750 jobs. (Sun, 23 Sep 2007 14:00:00 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? (Sun, 23 Sep 2007 14:44:33 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. (Sun, 23 Sep 2007 15:15:01 GMT)

Hardships force homeowners, mortgage holders to accept short sales
Eileen Capizzo gets teary eyed when she visits the "dream house" in Beaumont that she and her husband, Joe, bought less than two years ago. Soon after that, her husband died in a car accident and she was diagnosed with lung cancer. Now she can't afford the house and has tried in vain to sell. (Sun, 23 Sep 2007 15:39:35 GMT)

Pa. proposes sweeping mortgage reform, first time in two decades
Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income. (Sun, 23 Sep 2007 16:30:58 GMT)

A look at mortgage reforms being proposed in Pa.
The Mortgage Bankers and Brokers Act of 1989 was the first comprehensive law to regulate mortgage bankers and brokers in Pennsylvania. The following is a list of reforms being proposed this year: (Sun, 23 Sep 2007 16:31:08 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, 23 Sep 2007 17:29:50 GMT)

Banking Dept. Hopes To Deposit Sweeping Mortgage Reform
The state Banking Department hopes to help consumers by proposing the most sweeping mortgage reforms in the state in nearly 20 years. (Sun, 23 Sep 2007 18:32:22 GMT)

Reverse mortgage market grows to $1.8b
Australia's reverse mortgage market has ballooned in the past 12 months to be worth $1.8b and is likely to keep growing as baby boomers look to fund retirement. (Sun, 23 Sep 2007 20:26:11 GMT)

A look at mortgage reforms being proposed in Pa.
The Mortgage Bankers and Brokers Act of 1989 was the first comprehensive law to regulate mortgage bankers and brokers in Pennsylvania. The following is a list of reforms being proposed this year: (Sun, 23 Sep 2007 22:12:18 GMT)

Pa. proposes sweeping mortgage reform, first time in two decades
PHILADELPHIA - Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income. (Sun, 23 Sep 2007 22:12:28 GMT)

First Data loan nears close
NEW YORK/LONDON: Wall Street banks came closer to wrapping up First Data Corp's widely watched buyout loan last Friday, though another large buyout, of audio equipment maker Harman International Industries, appeared to be in jeopardy. (Mon, 24 Sep 2007 00:08:26 GMT)

Killer driver offers mortgage help
An Arima maxi-taxi driver who killed a woman and her baby in a car crash offered on Friday to help the woman's husband with his mortgage payments so that he could be spared a jail sentence. (Mon, 24 Sep 2007 03:01:42 GMT)

Who will take home the bacon in subprime loans carve-up?
This little pig went mark to market. This little pig wrote it down. This little pig ate too many loans. This little pig cried bonus, bonus, bonus all the way home. (Mon, 24 Sep 2007 03:37:10 GMT)

Dodd tackles mortgage lending reform
WASHINGTON — Congress moved closer last week to adopting reforms to the Federal Housing Administration that advocates believe will help hundreds of thousands of struggling homeowners avoid (Mon, 24 Sep 2007 04:05:59 GMT)

Mortgage bill rises as debts go unpaid - Money Matters
%%endhead%% I filed for bankruptcy in 1999. I got an adjustable-rate mortgage 2½ years ago. I was told when I signed my paperwork that if I kept a perfect mortgage history, I would have no problem refinancing. (Mon, 24 Sep 2007 04:14:17 GMT)

HOME EQUITY LOAN
School tuition, loan consolidation, home improvement cash or vacation plans don’t have to wait for next year. (Mon, 24 Sep 2007 05:02:59 GMT)

Mortgage meltdown impact minimal on Hawaii borrowing
We were interested in gauging the impact of the Mainland mortgage meltdown on credit and finance in Hawaii and discovered that a lot of businesses are feeling a squeeze. (Mon, 24 Sep 2007 05:19:36 GMT)

MGIC impacted by mortgage meltdown
MGIC Investment Corp. expects losses from mortgage insurance claims this year to continue to increase and exceed last year's in the wake of the deteriorating U.S. housing market. (Mon, 24 Sep 2007 05:21:29 GMT)

Mortgage pros leaving market amid upheaval
Donald Hall knows better than most about the mortgage industry's woes. A fast-talking, upbeat, 12-year veteran of the field, he's known by most of his clients and friends as "D." But he left the mortgage sector last month after he was laid off by three consecutive companies that either downsized or went bankrupt. (Mon, 24 Sep 2007 05:22:48 GMT)

State steps in to tackle mortgage woes
Even though Oregon has experienced relatively few effects from the so-called "mortgage meltdown," state officials continue to seek tighter loan terms. (Mon, 24 Sep 2007 05:25:30 GMT)

Many subprime borrowers could lose homes
As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government. (Mon, 24 Sep 2007 06:16:14 GMT)

Law firms react to mortgage crisis by creating units
Washington law firms are forming subprime mortgage groups to better tackle issues arising from the recent downturn in the mortgage industry and the overall slowdown in the housing sector. (Mon, 24 Sep 2007 06:26:46 GMT)

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