Mortgage News Sep 2007

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Harry Gross | Does $200,000 mortgage at 3.5% have catch? Indeed
Dear Harry: I saw an ad on TV that has me puzzled. It promoted a $200,000 mortgage with monthly payments of $585. I'm not so good with my math, but this looks like there's a lot hidden or they're charging a suspiciously low interest rate that will skyrocket in the future. If it sounds legitimate to you, could you please explain it me? (Mon, 24 Sep 2007 07:41:10 GMT)

London open: Mortgage banks down again
London has made a cautious start with mortgage lenders again under pressure on reports over the weekend that there are no buyers for Northern Rock. (Mon, 24 Sep 2007 08:05:04 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, 24 Sep 2007 08:14:12 GMT)

Why You Should Refinance Now If You Have an Adjustable Rate Mortgage
(ARA) - If you took out a mortgage on your home between 2002 and 2005, chances are good you ended up going with an adjustable rate mortgage or ARM. Back then, it was just too good of a deal to pass up. (Mon, 24 Sep 2007 08:14:32 GMT)

HDFC cuts interest rate on floating home loans
HDFC Ltd, the biggest player in the home loan segment, on Monday reduced interest rates on floating housing loans by 0.50 per cent. The change comes into effect from Monday, a HDFC spokesperson told PTI in Mumbai. (Mon, 24 Sep 2007 08:38:54 GMT)

HDFC cuts home loan rates
The change comes into effect from Monday, a HDFC spokesperson told PTI in New Delhi. This reduction will be on fresh loans and applicable to all disbursements up to October 31. (Mon, 24 Sep 2007 08:45:48 GMT)

BOV widens suite of home loans products
Bank of Valletta is continuing to widen its suite of Home Loan products with the launch of its Buy-to-Let Loan. John Soler, Chief Officer ? Credit at Bank of Valletta said, ?We have continued to widen our range of home financing products which today includes euro and Maltese Lira denominated loans, fixed and variable interest options, equity release loans, buy-to-let loans, interest only home ... (Mon, 24 Sep 2007 09:13:58 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 24 Sep 2007 09:29:54 GMT)

Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Mon, 24 Sep 2007 09:45:09 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, 24 Sep 2007 11:29:43 GMT)

Mortgage data leaked onto P2P network
Confidential data belonging to thousands of customers of ABN Amro Mortgage in the US have been inadvertently leaked onto a person-to-person file ... (Mon, 24 Sep 2007 11:46:00 GMT)

Additional mortgage payment monthly or biannually?
Dear Dr. Don, When making extra principal-only mortgage payments on a conventional fixed rate 30-year mortgage -- is it better to make an additional principal payment every month, or can we make one lump-sum payment each year? (Mon, 24 Sep 2007 11:51:46 GMT)

Pa. Proposes Sweeping Mortgage Reform
Pennsylvanians may get some help in response to the mortgage crisis that's sweeping the country. (Mon, 24 Sep 2007 12:25:00 GMT)

Pa. Proposes Sweeping Mortgage Reforms
Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income. (Mon, 24 Sep 2007 12:53:58 GMT)

Capito focuses on mortgage crisis
Congresswoman Shelley Moore Capito, R-W.Va., is applauding legislation that would give homeowners more security in the crumbling housing market. (Mon, 24 Sep 2007 13:01:56 GMT)

HDFC cuts home loan interest rate
Mumbai, Sept 24: Leading private sector lender in home loans space, HDFC today reduced interest rate on floating loans by 0.50 per cent but left the fixed rate untouched at 13.25 per cent. (Mon, 24 Sep 2007 13:32:17 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, 24 Sep 2007 13:44:34 GMT)

Hedge funds circle ailing Northern Rock
Northern Rock's embattled management is working against the clock on a funding strategy to tide over the troubled mortgage lender until a bidder emerges. With refinancing due on billions of pounds of debt issued to support mortgage loans, Adam Applegarth, the bank's chief executive, and his team will use the next two weeks to decide on funding options. (Mon, 24 Sep 2007 14:06:34 GMT)

HDFC cuts home loan rate
MUMBAI: HDFC Ltd, the biggest player in the home loan segment, on Monday reduced interest rates on floating housing loans by 0.50 per cent. The change comes into effect from today, a HDFC spokesperson told reporters here. (Mon, 24 Sep 2007 14:20:43 GMT)

HDFC cuts home loan rate
HDFC Ltd, the biggest player in the home loan segment, today reduced interest rates on floating housing loans by 0.50 per cent. (Mon, 24 Sep 2007 14:23:41 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Mon, 24 Sep 2007 14:32:12 GMT)

Pa. seeks mortgage reforms
PHILADELPHIA -- Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income. The 74-year-old North Philadelphia widow took on a $55,000 loan three years ago to pay off credit card debt and the remainder of her original mortgage. (Mon, 24 Sep 2007 15:02:09 GMT)

HDFC cuts rates on home loans by 0.50%
HDFC Ltd, the biggest player in the home loan segment, reduced interest rates on floating housing loans by 0.50 per cent. The change comes into effect from today, a HDFC spokesperson told PTI here. This reduction will be on fresh loans and applicable to all disbursements up to October 31. However, there is no change in the fixed home loans rate, which remains at 13.25 per cent. The rate cut ... (Mon, 24 Sep 2007 15:26:37 GMT)

Another Manic Monday For Northern Rock
British mortgage lender continues to plummet as hopes of finding a buyer recede (Mon, 24 Sep 2007 15:41:46 GMT)

Sector Snap: Mortgage Lenders
Shares of mortgage lenders were mixed Monday as the market tried to digest last week's interest-rate cut and Wall Street's earnings reports. (Mon, 24 Sep 2007 15:52:43 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 24 Sep 2007 15:59:54 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. (Mon, 24 Sep 2007 16:02:05 GMT)

Welcome to los-portales.com
Countrywide® Home Loans No Closing Cost Refinance Loan .Call America's #1 Home Loan Lender. www.Countrywide.com Home Loans Free Mortgage Quotes from 200+ Lenders. Rates are Still Low. (Mon, 24 Sep 2007 16:32:41 GMT)

Mortgage company says allegations are unfair and wrong
OMAHA — An Omaha-based mortgage company plans to fight state allegations of misconduct and will try to keep its state mortgage banking license. Bob Goldberg, president of Advantage Mortgage Service Inc., said the company conducts its business “in an exemplary fashion.” (Mon, 24 Sep 2007 16:37:39 GMT)

Pa. seeks better controls on mortgage lenders
PHILADELPHIA (AP) -- Jennie Scott is facing higher mortgage payments next month that she can't afford on her $1,000 monthly Social Security income. The 74-year-old North Philadelphia widow took on a $55,000 loan three years ago to pay off credit card debt and the remainder of her original mortgage. (Mon, 24 Sep 2007 17:01:04 GMT)

Northern Rock's Hopes Of Finding Buyer Dim
British mortgage lender continued to plummet as it looks increasingly likely to continue struggle independently. (Mon, 24 Sep 2007 17:42:10 GMT)

Mortgage REITs see more liquidity pressure: Fitch
BOSTON (MarketWatch) -- Mortgage real estate investment trusts that haven't yet succumbed to the credit storm are struggling to secure funding and are facing growing liquidity problems, Fitch Ratings said Monday. (Mon, 24 Sep 2007 19:06:07 GMT)

American Home Mortgage faces inquiry
American Home Mortgage Investment Corp. bounced property tax checks for some Maryland homeowners, local and state officials said Monday, and they have demanded an explanation from the bankrupt mortgage lender and servicer. (Mon, 24 Sep 2007 19:19:29 GMT)

HOME PAGE
10.5%: Special home loan floating rate offer from HDFC Mumbai, Sept. 24 This may be the right time to buy a house with interest rates finally showing some signs of cooling. Housing Development and Finance Corporation Ltd has announced a special interest of 10.5 per cent for home loan borrowers ... (Mon, 24 Sep 2007 19:24:07 GMT)

10.5%: Special home loan floating rate offer from HDFC
Mumbai, Sept. 24 This may be the right time to buy a house with interest rates finally showing some signs of cooling. Housing Development and Finance Corporation Ltd has announced a special interest of 10.5 per cent for home loan borrowers opting for a floating rate of interest. (Mon, 24 Sep 2007 19:26:58 GMT)

GE Money sets cat among the home loan pigeons
GE Money Wizard is the new aggressive player in the home loan market in India. Wizard Home Loans of Australia, acquired by GE Money in 2004, has made an entry into the Indian market along with GE Money with an inaugural loan offer at 9.99 per cent. (Mon, 24 Sep 2007 19:50:22 GMT)

Welcome to los-portales.com
Countrywide® Home Loans No Closing Cost Refinance Loan . Fast Approvals. Low Payments. www.Countrywide.com Home Loans Free Mortgage Quotes from 200+ Lenders. Rates are Still Low. (Mon, 24 Sep 2007 20:02:41 GMT)

Call 4 Action: Pa. Proposes 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. (Mon, 24 Sep 2007 20:09:38 GMT)

Mortgage broker settles false advertising charges with Ariz.
Attorney General Terry Goddard today announced a $95,000 settlement with Lenox Financial Mortgage an Atlanta-based mortgage broker. Company promised 'no closing costs.' (Mon, 24 Sep 2007 20:55:46 GMT)

2 Plead Guilty To $17.7 Million In Mortgage Fraud
Two men accused of obtaining about $17.7 million in fraudulent mortgage loans have pleaded guilty to federal charges of conspiracy to commit wire and bank fraud, according to the U.S. Attorney's Office. (Mon, 24 Sep 2007 21:27:06 GMT)

Primary Residential Mortgage, Inc. in Full Participation of the FHA Secure Initiative
Mirroring market-wide demand, Primary Residential Mortgage, Inc. has seen a 71% increase from January to August of this year in federally insured Federal Housing Administration loans. (Mon, 24 Sep 2007 21:41:00 GMT)

American Home Mortgage faces inquiry
American Home Mortgage Investment Corp. bounced property tax checks for some Maryland homeowners, local and state officials said Monday, and they have demanded an explanation from the bankrupt mortgage lender and servicer. (Mon, 24 Sep 2007 22:28:48 GMT)

Use Your Home to Get Away: Home Equity Loans with Frequent Flyer Programs by Informa Research Services
Just because you ' re paying off an unexpected expense by using a home equity loan or line of credit doesn ' t necessarily mean that vacation needs be out of mind ( http://www.quicken.com/banking_and_credit/saving/ ). Many financial institutions partner up with airlines to offer customers a way to earn miles while conveniently using the wealth they ' ve built through the equity in their homes ... (Mon, 24 Sep 2007 22:35:43 GMT)

HDFC cuts rate on floating home loans to 10.50%
There re good tidings for home buyers. Indicating that interest rates could be heading for a decline, HDFC Ltd, the leading player in the home loan segment, today reduced interest rates on floating housing loans by 0.50 percentage points to 10.50 per cent. The change comes into immediate effect. This reduction will be on fresh loans and applicable to all disbursements up to October 31. However, ... (Mon, 24 Sep 2007 22:43:09 GMT)

Attorney general forces changes in mortgage firm's advertisements
PHOENIX — A national mortgage firm known for its extensive radio advertising campaign has agreed to make changes to its marketing. (Mon, 24 Sep 2007 23:16:25 GMT)

Why rate cuts won't fix the mortgage market
WHY RATE CUTS WON'T FIX THE MORTGAGE MARKET Federal Reserve lubricates credit markets The Fed's unexpected move to cut short-term interest rates by a half-point last Tuesday injected capital into the locked-up credit markets and should ease rates on adjustable-rate mortgages. (Tue, 25 Sep 2007 00:55:03 GMT)

HSBC Finance to close US non-prime mortgage business
As part of the continued review of its mortgage lending business, HSBC Finance Corporation has announced that it will close its non-core wholesale lending channel, Decision One Mortgage, which originates non-prime mortgages in the US through brokers. (Tue, 25 Sep 2007 01:15:10 GMT)

2 Plead Guilty To $17.7 Million In Mortgage Fraud
JACKSONVILLE, Fla. -- Two men accused of obtaining about $17.7 million in fraudulent mortgage loans have pleaded guilty to federal charges of conspiracy to commit wire and bank fraud, according to the U.S. Attorney's Office. (Tue, 25 Sep 2007 04:27:59 GMT)

Mortgage scam threatens 200 homes with foreclosure
An unnamed builder is believed to be at the center of a widespread south metro mortgage scam. Two men already have pleaded guilty. Dream homes, lost dreams (Tue, 25 Sep 2007 05:12:40 GMT)

Mortgage company says allegations are unfair and wrong
OMAHA — An Omaha-based mortgage company plans to fight state allegations of misconduct and will try to keep its state mortgage banking license. Bob Goldberg, president of Advantage Mortgage Service Inc., said the company conducts its business “in an exemplary fashion.” (Tue, 25 Sep 2007 05:38:21 GMT)

Ease mortgage in retirement
It's an increasingly common dilemma: You want to retire - but you haven't yet retired your mortgage. Even before the recent debt-driven housing boom and bust, the numbers were getting ugly. Among households headed by someone age 65 to 74, over 32 percent had a mortgage on their primary residence in 2004, up from less than 19 percent in 1992, according to the Federal Reserve. Carrying a home loan ... (Tue, 25 Sep 2007 07:05:36 GMT)

Lenox mortgage to alter 'no closing costs' ads
PHOENIX — A national mortgage firm known for its extensive radio advertising campaign has agreed to make changes to its marketing. (Tue, 25 Sep 2007 07:21:48 GMT)

Mortgage woes ease up
August's mortgage meltdown led to much hand-wringing from buyers and mortgage brokers, but things are looking better, in September, said Martha Pedroza Ramos of Cal Bay Mortgage in Napa. (Tue, 25 Sep 2007 07:22:31 GMT)

It's forward with reverse mortgage
U sing a home equity line of credit, David Casey and his wife, Joyce, made some much-needed improvements around their house. New carpet. Updated plumbing. But the credit line’s interest kept jumping, pushing their monthly payment to nearly $1,000 from $600. (Tue, 25 Sep 2007 10:08:27 GMT)

US Mortgage Crisis on China Limited
The impact of U.S. subprime mortgage crisis on China is limited thanks to the country's strong economic growth, a well-known economist said Tuesday. (Tue, 25 Sep 2007 10:19:18 GMT)

Money's available
Credit card default rates are increasing, bankruptcy filings are on the rise and falling home prices are making it harder to get cash by refinancing a mortgage. (Tue, 25 Sep 2007 11:17:43 GMT)

HELOC or refinance for home improvement?
HELOC or refinance for home improvement? (Tue, 25 Sep 2007 11:52:06 GMT)

Mortgagebrokers.com Achieves Major Milestone With Its National Sales Team Surpassing 300 Loan and Mortgage Originators ...
TORONTO, Sept. 25 /PRNewswire-FirstCall/ -- MortgageBrokers.com Holdings Inc. ( Nachrichten ) (OTCBB:MBKR) through its subsidiary, Mortgagebrokers.com Inc. (the "Company"), one of North America's fastest growing mortgage brokerage firms, continues its impressive growth by announcing today that its National Sales Team has surpassed 300 loan and mortgage originators across Canada. (Tue, 25 Sep 2007 12:22:57 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Tue, 25 Sep 2007 13:02:16 GMT)

State Agencies Investigate Local Mortgage Company's Shutdown
Three Pennsylvania agencies have begun investigations into the shutdown of a Berks County-based mortgage company that has left hundreds of local homeowners with higher than expected mortgage payments, putting some of them in danger of foreclosure. (Tue, 25 Sep 2007 13:18:46 GMT)

Mortgage brokers urge customers to lie about salary to get huge home loans
House buyers are being encouraged to lie about their finances in order to qualify for supersize mortgages that are up to eight times their salary. The scam, which is being operated by unscrupulous brokers, suggests Britain may follow the USA in experiencing a sub-prime mortgage crisis (Tue, 25 Sep 2007 14:35:06 GMT)

August home sales fall; inventories highest since 1989
The pace of existing home sales fell sharply in August while inventories of single-family homes grew to their highest level in 18 years, the National Association of Realtors said Tuesday. (Tue, 25 Sep 2007 15:15:29 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? (Tue, 25 Sep 2007 15:15:34 GMT)

US home sales fall 4.3 percent
US existing home sales fell 4.3 percent in August as buyers had trouble getting mortgages amid financial market turmoil, the real estate industry said Tuesday. (Tue, 25 Sep 2007 15:15:52 GMT)

Existing-Home Sales Fall on Temporary Mortgage Problems
WASHINGTON -- Existing-home sales fell in August when mortgage availability problems were peaking, according to the National Association of Realtors(R). (Tue, 25 Sep 2007 15:26:28 GMT)

Mortgage rates warning over scheme
A move to a US-style compensation scheme for savers could lead to higher mortgage rates and lower returns paid on savings accounts. (Tue, 25 Sep 2007 16:23:22 GMT)

Essar aims to raise $3.6bn syndicated loan
India's Essaron Tuesday started the process to raise the country's second-largest syndicated loan, ignoring tremors in global credit markets from the US subprime mortgage crisis. (Tue, 25 Sep 2007 16:56:21 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? (Tue, 25 Sep 2007 17:29:44 GMT)

Sector Snap: Mortgage Lenders
Shares of mortgage lenders mostly fell Tuesday after two reports showed the slumping housing market burrowed into a deeper hole this summer. (Tue, 25 Sep 2007 17:30:49 GMT)

Free Clinic Offered For Mortgage Problems
SAN DIEGO -- Homeowners facing mortgage problems can get help and information at a free clinic offered by a coalition of non-profit agencies in San Diego County. (Tue, 25 Sep 2007 18:23:33 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, 25 Sep 2007 19:06:54 GMT)

US subprime losses set to mount
Losses in the US subprime mortgage market are set to escalate as falling housing prices prevent borrowers with adjustable rate mortgages from refinancing on better terms, data released on Tuesday suggest. (Tue, 25 Sep 2007 19:55:45 GMT)

ICBA Announces National Community Bank Mortgage Week
The Independent Community Bankers of America (ICBA) announced that community banks nationwide are participating in ICBA National Community Bank Mortgage Week, Nov. 5-9. Participating community banks will review mortgage documents of current homeowners, discuss financing options with first-time homebuyers who see an opportunity to own their own home, and help current homeowners looking to ... (Tue, 25 Sep 2007 20:13:00 GMT)

Fitch Affirms Wells Fargo's Consumer Credit Group Servicer Rating for Home Equity Loans
--Primary servicer rating for home equity/home equity lines of credit at 'RPS2'. The rating action reflects the company's experienced management team, robust internal control environment and solid performing loan procedures. (Tue, 25 Sep 2007 21:21:34 GMT)

Rep. Frank Pushes Mortgage Bill
House Financial Services Committee Chairman Barney Frank, D-Mass., said Tuesday he hopes to pass a bill out of his panel by the end of next month that would address mortgage lending practices. (Tue, 25 Sep 2007 21:35:12 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Tue, 25 Sep 2007 22:15:15 GMT)

Four Indicted In Mortgage Fraud Investigation
Four men accused of being involved in a mortgage fraud scheme will face charges in federal court, U.S. Attorney McGregor W. Scott said Tuesday. (Tue, 25 Sep 2007 22:36:57 GMT)

Ross Named Lead Bidder for American Home Service Unit (Update3)
Sept. 25 (Bloomberg) -- Wilbur L. Ross Jr., the billionaire investor who's going into the mortgage business, was named lead bidder for the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. with a $435 million purchase offer. (Tue, 25 Sep 2007 22:56:43 GMT)

Mortgage mess means expansion for debt-consolidation firm
The downturn in the mortgage industry has made it easier for a California-based debt-resolution firm to rapidly expand its Tempe operation. (Wed, 26 Sep 2007 00:11:48 GMT)

Four indicted in mortgage scheme
A federal grand jury has indicted four Sacramento-area mortgage brokers and real estate agents on charges they engaged in a mortgage fraud scheme that has sent an estimated 19 Elk Grove homes toward foreclosure while they collected $277,000 in commissions and payments. (Wed, 26 Sep 2007 01:22:55 GMT)

RAMS to issue A$250 mln mortgage backed bond
SYDNEY, Sept 26 - RAMS Home Loans Group Ltd , an Australian non-bank lender, is issuing A$250 million in residential mortgage-backed securities, rating agency Moody's Investor Services said on Wednesday. (Wed, 26 Sep 2007 01:57:12 GMT)

UPDATE 1-RAMS to issue A$250 mln mortgage backed bond
SYDNEY, Sept 26 (Reuters) - Australian mortgage lender RAMS Home Loans Group Ltd RHG.AX is planning a A$250 million ($219 million) residential mortgage-backed securities (RMBS) issue, in a sign issuers are slowly returning to troubled debt markets. (Wed, 26 Sep 2007 02:52:36 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, 26 Sep 2007 02:57:20 GMT)

Welcome to los-portales.com
Countrywide® Home Loans No Closing Cost Refinance Loan . Fast Approvals. Low Payments. www.Countrywide.com Mortgage Loans Refinance $200,000 For Only $938/Month. 1 Simple form, up to 4 Offers. (Wed, 26 Sep 2007 03:48:13 GMT)

(AFX UK Focus) 2007-09-26 04:40 GMT: China could raise mortgage loan rates this week - report
BEIJING (XFN-ASIA) - China is expected to raise its interest rate on mortgage loans to 1.1 times the benchmark one-year lending rate this week, in an effort to curb rising house prices and speculation in the property market, state media reported. (Wed, 26 Sep 2007 03:50:10 GMT)

$70M Suit Against Cadwalader Reflects Risks of Practice in Mortgage-Backed Securities
As the global slowdown in the market for mortgage-backed securities threatens a core practice area of Cadwalader, Wickersham & Taft, the New York law firm is also wrestling with a $70 million legal malpractice suit brought by a major issuer of such securities. Cadwalader is one of the nation's top law firms when it comes to securitizations, and its large practice in the area has helped catapult ... (Wed, 26 Sep 2007 04:08:17 GMT)

Primary Residential Mortgage, Inc. Reports a 71% increase in FHA Mortgage Volume
Mirroring market-wide demand, Primary Residential Mortgage, Inc. (PRMI) has seen a 71% increase from January to August of this year in federally insured Federal Housing Administration loans. Having been a HUD/FHA Direct Endorsement lender since 1998, the company is using their extensive experience to help borrowers utilize FHA loans. (Wed, 26 Sep 2007 07:01:00 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Wed, 26 Sep 2007 08:14:33 GMT)

UPDATE 3-Australia's RAMS sets A$250 mln mortgage-backed bond
SYDNEY, Sept 26 (Reuters) - Australian mortgage lender RAMS Home Loans Group Ltd RHG.AX is planning a A$250 million ($219 million) residential-mortgage-backed securities (RMBS) issue, the first since it got caught up in the global credit crunch. (Wed, 26 Sep 2007 08:18:43 GMT)

London open: Mortgage sector lifts Footsie
Footsie has burst into life with bid approaches to Northern Rock giving all of the mortgage banks a lift. (Wed, 26 Sep 2007 08:20:05 GMT)

Choose Your Monthly Mortgage Payments
Have you decided on a new home that you're going to make an offer on? Or maybe you are planning on refinancing an existing mortgage , and are deciding what you want your monthly mortgage payment to be. Choosing how much to pay each month is a good place to start. (Wed, 26 Sep 2007 08:33:56 GMT)

Rams Plans Mortgage Bond Sale to Ease Funds Shortage (Update3)
Sept. 26 (Bloomberg) -- Rams Home Loans Group Ltd., the Australian lender that last month failed to refinance $5.3 million of short-term debt, plans to sell mortgage-backed bonds to ease funding shortages. (Wed, 26 Sep 2007 08:56:46 GMT)

Wilbur Ross turns his attention to the ailing mortgage business
A firm controlled by the investor, who made his name by buying and reviving distressed companies, bid $435 million last week to buy the service unit of American Home Mortgage, which collects payments from homeowners. (Wed, 26 Sep 2007 10:13:49 GMT)

Earle pays $3,800 to settle bank loan
Charlotte's Democratic mayoral candidate, state Rep. Beverly Earle, has paid more than $3,800 to settle a loan that she defaulted on in April 2006, her campaign said Tuesday. Campaign spokesman John Minter said Earle delivered a certified check last week to a lawyer for RBC Centura, the bank that made the loan to Earle and her son, Steven Jessup, in 2001. Earle co-signed the loan for Jessup, who ... (Wed, 26 Sep 2007 10:33:47 GMT)

Mortgage lenders reach out to owners in distress
Fearing that foreclosure was only one more missed payment away, Ernest Frye, Jr., took the first steps yesterday to get help with the mortgage on his South Toledo home. (Wed, 26 Sep 2007 10:33:50 GMT)

Mortgage application volume fell 2.8% last week
CHICAGO (MarketWatch) -- The volume of mortgage loan applications filed last week decreased a seasonally adjusted 2.8%, while interest rates on fixed-rate home loans increased, the Mortgage Bankers Association reported on Wednesday. (Wed, 26 Sep 2007 11:06:58 GMT)

Mortgage Application Volume Declines
Mortgage application volume declined 2.8 percent during the week ending Sept. 21, according to the Mortgage Bankers Association's weekly application survey. (Wed, 26 Sep 2007 11:13:29 GMT)

U.S. MBA's Mortgage Applications Index Decreased 2.8% Last Week
Sept. 26 (Bloomberg) -- Mortgage applications in the U.S. fell 2.8 percent last week, led by the biggest drop in purchases since January. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan fell to 654.2 from 673.2 the prior week. (Wed, 26 Sep 2007 11:40:30 GMT)

Mortgage applications slide
Mortgage Bankers Association reports 2.8 percent dip as interest rates on fixed-rate mortgages climb. (Wed, 26 Sep 2007 12:11:54 GMT)

Third Quarter U.S. Mortgage Payment Index Finds Fixed-Rate Mortgages Remain Strong, Payments Affordable
Traditional home loans, such as the 30-year fixed-rate mortgage, have survived the so-called "mortgage meltdown" and homebuyers are seeking them out in large numbers, according to Dr. (Wed, 26 Sep 2007 12:30:00 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, 26 Sep 2007 12:39:15 GMT)

Bankers: Late Home Equity Loan Payments Rise
Late payments on credit card bills dipped in the second quarter, while delinquencies on home equity lines of credit climbed to a 5 1/2-year high, painting a mixed picture of how people are managing their debt.   CBS News Interactive: Money Saving Tips (Wed, 26 Sep 2007 12:40:00 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, 26 Sep 2007 13:18:17 GMT)

Mortgage applications slide 2.8% as purchases fall
Home loan applications slumped last week after climbing for three straight weeks, an industry group said Wednesday, as falling demand for home purchase loans overshadowed a fourth weekly rise in refinancing requests. (Wed, 26 Sep 2007 13:46:28 GMT)

US home buyers hit by refinancing woes
LOSSES in the US sub-prime mortgage market are set to escalate as falling housing prices prevent borrowers with adjustable rate mortgages from refinancing on better terms, says data released yesterday. (Wed, 26 Sep 2007 14:00:00 GMT)

Family claims reverse mortgage a scam
An East Austin family is entangled in lawsuits over a reverse mortgage process they claim is a scam to make them lose their home. (Wed, 26 Sep 2007 16:28:40 GMT)

Sector Snap: Mortgage Lenders
Shares of mortgage lenders were mixed Wednesday after a trade group reported mortgage applications fell last week and a struggling lender disclosed its deal to sell a stake in itself may fall through. (Wed, 26 Sep 2007 16:43:32 GMT)

U.S. credit rating agencies grilled over mortgage meltdown
WASHINGTON – Executives from major credit rating agencies on Wednesday were accused by senators of being hampered by conflicts of interest that may have contributed to the mortgage market turmoil rattling investors worldwide. (Wed, 26 Sep 2007 17:18:18 GMT)

Investor Wilbur Ross makes $500 mln bid for American Home unit
SAN FRANCISCO (MarketWatch) -- Wilbur Ross, a specialist in buying distressed assets, is bidding roughly $500 million for the loan-servicing business of bankrupt mortgage company American Home Investment Corp., the company said on Wednesday. (Wed, 26 Sep 2007 17:21:43 GMT)

SBI loan mela starts in Bengal from Sep 28
Kolkata, Sept 26 : With easy interest rates and concessions on processing fees, the State Bank of India will organise 'Home Loan Mahotsav' from September 28 to October seven. (Wed, 26 Sep 2007 18:06:42 GMT)

Federal Home Loan Banks of Dallas and Chicago Continue Merger Discussions
DALLAS, Sept. 26, 2007 -- The Federal Home Loan Bank of Dallas announced in August that the Bank is engaged in preliminary discussions to evaluate the benefits and feasibility of combining its business operations with the Federal Home Loan Bank of Chicago. (Wed, 26 Sep 2007 18:39:27 GMT)

Rams Plans Mortgage Bond Sale to Ease Funds Shortage (Update3)
Sept. 26 (Bloomberg) -- Rams Home Loans Group Ltd., the Australian lender that last month failed to refinance $5.3 million of short-term debt, plans to sell mortgage-backed bonds to ease funding shortages. (Wed, 26 Sep 2007 19:55:19 GMT)

Family claims reverse mortgage a scam
AUSTIN An East Austin family is entangled in lawsuits over a reverse mortgage process they claim is a scam to make them lose their home. FULL STORY >> Updated: 9/26/2007 8:46 AM (Wed, 26 Sep 2007 19:57:08 GMT)

Subprime Mortgage Homeowners In Rocky Waters
Washington, D.C. -- New data suggests that U.S. subprime mortgage market losses will increase as falling house prices negate refinancing options for adjustable rate mortgage borrowers, the Financial Times reports. (Wed, 26 Sep 2007 20:21:34 GMT)

State Bank cuts home loan rates
The big daddy of commercial bank has joined the race to lower home loan rates. State Bank of India on Wednesday announced a cut in its home loan rates by 75 basis points, from 11.25% to 10.50%, under the garb of a loan mela that will run till October 7. (Wed, 26 Sep 2007 20:38:31 GMT)

Foreclosures Swamp Housing Aid Groups
Credit counseling and housing assistance groups are being swamped by area homeowners seeking to stave off foreclosure after many took on riskier mortgage refinancing. (Wed, 26 Sep 2007 21:06:30 GMT)

Housing aid groups swamped with foreclosure cases in Philly area
Credit counseling and housing assistance groups are being swamped by area homeowners seeking to stave off foreclosure in desperate attempts to save their houses after many took on riskier mortgage refinancing. (Wed, 26 Sep 2007 21:19:35 GMT)

HBOS Boosted By British Mortgage Woes
Britain's largest mortgage lender is the main beneficiary of Northern Rock's woes. (Wed, 26 Sep 2007 22:11:46 GMT)

Contact us | Mortgage about to reset?
Do you have an adjustable rate mortgage? Are you having trouble refinancing and facing higher payments than you can afford? Observer reporter Christopher D. Kirkpatrick wants to talk to you. Contact him at 704-358-5169 or at ckirkpatrick@charlotteobserver.com . Be sure to leave your contact information. (Wed, 26 Sep 2007 22:18:39 GMT)

Senators Question Credit Rating Agencies on Their Track Record Amid Mortgage Market Mess
Alan Zibel September 26, 2007 - 5:49 p.m. WASHINGTON (AP) - Executives from major credit rating agencies on Wednesday were accused by senators of being hampered by conflicts of interest that may have contributed to the mortgage market turmoil rattling investors worldwide. (Wed, 26 Sep 2007 22:39:38 GMT)

China likely to raise mortgage deposits to curb house price hiking
The central bank is likely to order commercial banks to raise mortgage deposits to at least 40 percent for homebuyers who intend to buy a second apartment. (Thu, 27 Sep 2007 01:44:02 GMT)

Home loan pain may hurt Howard
AS Australians head into a federal election, many are struggling under mountains of debt, with a survey showing 46 per cent of Australians claiming they are worse off financially than one year ago. (Thu, 27 Sep 2007 01:45:00 GMT)

Problems Mount for 2 Mortgage Firms
Shares in Fremont General dropped 19 percent after a rescue plan was abandoned, while Luminent Mortgage Capital said second quarter profits were lower than initially reported. (Thu, 27 Sep 2007 03:36:00 GMT)

Amazing Case of Loan and Mortgage Fraud
Loan and mortgage fraud is becoming big business across the country and crooks continue to find new ways to take advantage of almost anyone and steal any identity. Eyewitness News has uncovered an amazing case that involves a victimized grandmother in San Diego, a failing Los Angeles loan company and a Las Vegas man who doesn't care who he hurts. (Thu, 27 Sep 2007 03:36:18 GMT)

Delinquent home-equity loan payments rise
WASHINGTON | Late payments on credit card bills dipped in the second quarter, while delinquencies on home-equity lines of credit climbed to a 5 1/2 -year high, painting a mixed picture of how people are managing their debt. (Thu, 27 Sep 2007 03:37:53 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 (Thu, 27 Sep 2007 03:48:11 GMT)

Cantor builds up mortgage-backed securities
Despite being burned by the sub-prime fallout earlier this year, Cantor Fitzgerald is ramping up its mortgage-backed securities business just as masses of troubled debt are expected to come to market. (Thu, 27 Sep 2007 04:03:03 GMT)

Report: State IG disputes personal loan
The son and daughter-in-law of a State Department official are seeking a restraining order to stop what they claim are unprofessional and offensive e-mails in a dispute over a personal loan, The Washington Post reported Thursday. (Thu, 27 Sep 2007 04:18:58 GMT)

Getting a Home Loan is Not Impossible Says a Home Loan Expert; and Don't be Frightened by What You Read and Hear
Despite the grim news you hear and read daily about the mortgage crisis, obtaining a home loan to purchase or refinance a home is still possible, says a home loan expert. (Thu, 27 Sep 2007 07:01:00 GMT)

Credit agencies face blame for mortgage woes
Executives from major credit-rating agencies Wednesday were accused by senators of being hampered by conflicts of interest that may have contributed to the mortgage market turmoil rattling investors worldwide. (Thu, 27 Sep 2007 07:08:30 GMT)

G-7 to Discuss Subprime Mortgage Fallout, Japan's Nukaga Says
Sept. 27 (Bloomberg) -- Group of Seven finance ministers and central bankers will discuss ways to limit the effects of the U.S. subprime-mortgage crisis at a meeting in Washington next month, Japan's Finance Minister Fukushiro Nukaga said. (Thu, 27 Sep 2007 07:09:44 GMT)

Getting a Home Loan is Not Impossible Says a Home Loan Expert; and Don't be Frightened by What You Read and Hear
Despite the grim news you hear and read daily about the mortgage crisis, obtaining a home loan to purchase or refinance a home is still possible, says a home loan expert. (PRWeb Sep 27, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/VGhpci1TcXVhLUZhbHUtTWFnbi1UaGlyLVplcm8= (Thu, 27 Sep 2007 07:35:16 GMT)

KUTV sports anchor Dave Fox pleads guilty in home loan fraud
A KUTV sports anchor pleaded guilty Tuesday to a charge of felony communications fraud for illegally signing home loan documents in 2006.     Dave Mark Fox, a Channel 2 employee, pleaded guilty to the second-degree felony. (Thu, 27 Sep 2007 07:39:06 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." (Thu, 27 Sep 2007 08:14:33 GMT)

Britainnia warns mortgage market to get tougher
Britannia Building society has warned that the mortgage markets are set to become more challenging, as lending rates become more expensive and demand from customers slows. (Thu, 27 Sep 2007 10:17:35 GMT)

News analyst Williams says ‘mortgage moms’ are key to ’08
A leading news analyst said “mortgage moms” hold the key to the 2008 presidential election among a divided electorate, and that stands to benefit Democrats. (Thu, 27 Sep 2007 11:03:04 GMT)

Bankrate: Mortgage Rates Move Higher Following Fed Cut
Fixed mortgage rates increased for the second consecutive week, with the average conforming 30-year fixed mortgage rate rising to 6.49 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.37 discount and origination points. (Thu, 27 Sep 2007 11:30:00 GMT)

Barclays Capital Mortgage Servicing ranking affirmed as 'above average' - S&P
MUMBAI (Thomson Financial) - Standard&Poor's Ratings Services affirmed its 'above average' ranking on Barclays ( Nachrichten / Aktienkurs ) Capital Mortgage Servicing Ltd (BCMS) as a commercial loan servicer in the UK. (Thu, 27 Sep 2007 11:49:09 GMT)

State Investigates Mortgage Company's Shutdown
LANCASTER, Pa. -- Three Pennsylvania agencies have begun investigations into the shutdown of a Berks County-based mortgage company that has left hundreds of local homeowners with higher than expected mortgage payments, putting some of them in danger of foreclosure. (Thu, 27 Sep 2007 12:48:29 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, 27 Sep 2007 13:15:24 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, 27 Sep 2007 14:04:23 GMT)

Mortgage crash hits new home sales
The mortgage bomb hit the demand for new homes even harder than expected in August, leaving the nation's builders with their weakest level of sales since the summer of 2000, when the nation was struggling with a stock market collapse, rising interest rates and a looming recession. (Thu, 27 Sep 2007 14:12:24 GMT)

Federal Home Loan Bank of Topeka Selects Flexi Software
Flexi, a provider of world-class accounting software and services, announced today that Federal Home Loan Bank of Topeka has selected Flexi solutions to meet their General Ledger and Budgeting needs. (Thu, 27 Sep 2007 14:24:00 GMT)

Fixed-rate mortgage rates rise, ARMs fall
CHICAGO (MarketWatch) -- Interest rates on fixed-rate mortgages rose again this week, while rates on adjustable-rate mortgages fell, according to Freddie Mac's weekly survey. The 30-year fixed-rate mortgage averaged 6.42%, up from last week's 6.34%. The mortgage averaged 6.31% a year ago. "Consistent with the direction of 10-year Treasury securities, average rates on 30-year fixed-rate mortgages ... (Thu, 27 Sep 2007 14:46:10 GMT)

Mortgage rates jump
Mortgage rates rose for the third consecutive week in a row, Freddie Mac reported Thursday. (Thu, 27 Sep 2007 14:56:54 GMT)

Philly housing aid groups swamped with foreclosure cases
PHILADELPHIA -- Credit counseling and housing assistance groups are being swamped by area homeowners seeking to stave off foreclosure in desperate attempts to save their houses after many took on riskier mortgage refinancing. (Thu, 27 Sep 2007 15:01:56 GMT)

Mortgage rates up for 3rd straight week
U.S. mortgage rates were up for the third consecutive week, the weekly Freddy Mac primary mortgage survey reported Thursday. (Thu, 27 Sep 2007 15:11:16 GMT)

Mortgage Bill Would Protect Consumers
A top House Democrat's plan to reform oversight of the mortgage sector would have a major impact on multiple levels of the $11 trillion industry, according to a draft summary of the bill obtained by Dow Jones Newswires. (Thu, 27 Sep 2007 15:15:44 GMT)

What You Should Know Before Refinancing: MMI weighs the pros and cons of refinancing your home
HOUSTON----Consumers with adjustable rate mortgages scheduled to reset in the coming months might be researching their refinancing options--especially considering the recent drop in 30-year fixed mortgage rates. (Thu, 27 Sep 2007 16:18:00 GMT)

Rep. Frank's mortgage bill targets banks, brokers
WASHINGTON - Rep. Barney Frank's plan to reform oversight of the mortgage sector would have a major impact on multiple levels of the $11 trillion industry, according... (Thu, 27 Sep 2007 16:24:30 GMT)

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