Mortgage News Nov 2007

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Commercial Bank of Dubai Inks Deal with National General Insurance Company for Home Loan Protection
Dubai, November 5 th , 2007: Commercial Bank of Dubai Commercial Bank of Dubai has announced it signed an agreement with National General Insurance Company to provide insurance coverage to all the home finance loans given by the bank. (Mon, 05 Nov 2007 10:16:25 GMT)

HOME-LOAN RANGERS SLOW TO THE RESCUE
Three months after Gov. Spitzer announced a $100 million program to save New Yorkers in danger of losing their homes due to the subprime mortgage crisis, only a single mortgage rescue is in the works. According to a report by Crain's New York... (Mon, 05 Nov 2007 10:33:22 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, 05 Nov 2007 10:52:47 GMT)

BDS Mortgage Group launches new sourcing system
The BDS Mortgage Group has launched a new free sourcing system to all brokers and satellite packagers. (Mon, 05 Nov 2007 11:01:01 GMT)

Getting Ahead
Whether you’re considering buying a new home or refinancing an existing mortgage, credit scores matter more than ever. Tuesday’s workplace and financial matters page takes a look at what consumers need to know about their credit reports and scores to get the best deals. (Mon, 05 Nov 2007 11:13:22 GMT)

Bankers' lesson from mortgage mess: Sell, don't hold
Top U.S. bankers have come under scrutiny for ignoring that fundamental principle. Their banks were found to be holding billions of dollars of mortgage-related bonds that have fallen sharply in value as default rates have soared. (Mon, 05 Nov 2007 11:20:26 GMT)

N.J. offers financial help to those with mortgage problems
TRENTON -- State officials on Wednesday announced a new foreclosure-prevention effort to help thousands of New Jersey borrowers facing mortgage problems. (Mon, 05 Nov 2007 11:22:30 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, 05 Nov 2007 11:52:49 GMT)

Paragon to make 62 redundancies at Mortgage Trust
Paragon has announced it will be making 62 redundancies as its moves its centralises Mortgage Trust’s business processing to Paragon’s head officc in the West Midlands. (Mon, 05 Nov 2007 12:15:51 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, 05 Nov 2007 12:22:47 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, 05 Nov 2007 14:24:32 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, 05 Nov 2007 14:24:42 GMT)

University of Delaware, Federal Home Loan Bank Launch 'Blueprint Communities' Initiative to Help Cities, Towns and ...
WILMINGTON, Del.----The University of Delaware's Center for Community Research and Service and the Federal Home Loan Bank of Pittsburgh have entered into a partnership to bring the Blueprint Communities revitalization initiative to the First State. (Mon, 05 Nov 2007 15:25:00 GMT)

Mortgage Marvel, a New Mortgage-Shopping Web Site, Takes the Pain out of Online Mortgage Shopping
Even in a fluctuating real-estate market, people are mortgage shopping. And according to a recent study by Forrester Research(1), they're increasingly using the Internet to research and compare mortgage rates and fees. But online mortgage shopping can be frustrating and even fearful. (Mon, 05 Nov 2007 15:26:04 GMT)

Jury deliberations continue in Shields' mortgage fraud case
A federal jury resumed deliberations about 8:20 this morning in the mortgage fraud case involving former Jackson County Executive Katheryn Shields. (Mon, 05 Nov 2007 15:47:17 GMT)

Virgin Money set to take over mortgage firms
VIRGIN Money has revealed it is in talks for the possible takeover of two mortgage distributors in Australia and has flagged that it wants to talk to more. (Mon, 05 Nov 2007 16:00:00 GMT)

Refinance ads change their pitch
"Congratulations!" Irvine, Calif., mortgage brokerage Sunwest Lending Group wrote in a recent mailing to a homeowner. (Mon, 05 Nov 2007 16:03:31 GMT)

Subprime bailouts: Chump check
Not everyone is happy about mortgage lenders' latest efforts to help troubled borrowers. (Mon, 05 Nov 2007 16:31:20 GMT)

US Rep Frank Secures Key GOP Support For Mortgage Reform Bill
WASHINGTON -(Dow Jones)- House Financial Services Committee Chairman Barney Frank, D-Mass., has secured two key Republican endorsements on his legislative plan to reform the origination, securitization, and regulation of the mortgage industry, avoiding a potentially bruising political fight this week. (Mon, 05 Nov 2007 17:11:10 GMT)

Online loan shopping sites make borrowing easier
Did you know that Internet sites offering loans help you getting a better deal from the banks offering you loans? Loan Web sites can help you get home loans, personal loans, auto loans and credit cards. (Mon, 05 Nov 2007 18:07:40 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, 05 Nov 2007 18:07:42 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? (Mon, 05 Nov 2007 18:09:02 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, 05 Nov 2007 18:09:12 GMT)

Homeowners To Meet Again After Mortgage Company Shutdown
Homeowners affected by the bankruptcy of a local mortgage company will get together once again on Monday night. (Mon, 05 Nov 2007 18:17:20 GMT)

Committee to vote on mortgage reform bill
A bill aiming to beef up mortgage lending and borrowing practices as well as curtail predatory lending is scheduled to go before a House committee on Tuesday in its first step on the way to possible enactment. (Mon, 05 Nov 2007 19:02:56 GMT)

Home buyers trapped in builder's financial meltdown
An informal "limbo network" has sprung up among customers of Levitt & Sons whose home construction in north metro Atlanta has been stalled by the company's financial trouble. Dozens of committed buyers for two Seasons communities — one near Canton in Cherokee County, the other on Lake Lanier in Hall County — are now unable to close their purchases and complete their homes. The developments are ... (Mon, 05 Nov 2007 19:40:19 GMT)

Mortgage reform bill picks up key backing
House Financial Services Committee Chairman Barney Frank, D-Mass., has secured two key Republican endorsements on his legislative plan to reform the mortgage industry, avoiding a potentially bruising political fight this week. (Mon, 05 Nov 2007 19:46:00 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, 05 Nov 2007 19:51:35 GMT)

American Mortgage Acceptance Company Announces Conference Call to Discuss Third Quarter 2007 Financial Results
American Mortgage Acceptance Company ( Nachrichten ) ( “ AMAC “� or the “ Company “� ) (AMEX:AMC) today announced that it will release financial results for the quarter ended September 30, 2007, on Wednesday, November 7, 2007. (Mon, 05 Nov 2007 19:54:32 GMT)

State refinancing program fraught with hurdles
The plan was for the State of New York Mortgage Agency to help homeowners refinance into 30- or 40-year fixed-rate loans from subprime adjustable-rate ones. (Mon, 05 Nov 2007 20:25:16 GMT)

Mortgage Broker Pleads Guilty In Fraud Scheme
TAMPA - A Brandon mortgage broker has pleaded guilty to aggravated white collar crime and other charges in a fraud scheme that bilked more than $400,000 from more than 20 people, officials said. (Mon, 05 Nov 2007 20:30:20 GMT)

Australia's Home-Loan Growth May Have Stalled on Rate Increase
Nov. 6 (Bloomberg) -- Australia's home-loan approvals probably barely increased in September as the highest interest rates in 11 years discouraged borrowing. (Mon, 05 Nov 2007 21:05:07 GMT)

Northern Rock mortgage trade collapses
Northern Rock has seen a dramatic fall in mortgage lending over the past two months since its financial problems emerged, according to mortgage brokers. (Mon, 05 Nov 2007 22:25:16 GMT)

Reverse mortgage scheme for senior citizens takes shape
Launching an exclusive product for the senior citizens, banks here are promoting the reverse mortgage loan scheme for their benefit. While the Punjab National Bank (PNB) introduced this scheme in the market as PNB Baagbaan on April 13, the number of enquiries has increased tremendously over this time period. Toeing the same line, the State Bank of India (SBI) has also geared up by launching SBI ... (Mon, 05 Nov 2007 22:38:28 GMT)

Profits for Brazil's Bradesco Up 19 Percent on Rising Loan Portfolio, Consumer Demand
SAO PAULO, Brazil (AP) - Profit at Bradesco, Brazil's largest private-sector bank, rose 19 percent in the third quarter, boosted by a big increase in its loan portfolio amid strong consumer demand, the company said Monday. (Mon, 05 Nov 2007 22:39:19 GMT)

Analyst: Mortgage industry still facing layoffs
The mortgage industry still isn't out of the woods and faces substantially more new layoffs, according to a report. (Mon, 05 Nov 2007 23:21:26 GMT)

£2,000 fee the norm for a fixed-rate mortgage
Banks are charging home buyers ever-higher fees for taking out a mortgage, according to research undertaken for The Daily Telegraph. (Tue, 06 Nov 2007 01:40:08 GMT)

Qatar Telecom gets $3 billion loan
NEW YORK — Qatar Telecom QSC, the state- controlled phone company known as Q-Tel, completed a $3 billion five-year syndicated loan to replace existing short term debt, the company said in a statement. (Tue, 06 Nov 2007 03:34:49 GMT)

Economy minister: Japan closely monitoring US economy, subprime mortgage crisis impact
Japan needs to keep an eye on the impact of the subprime mortgage crisis on the American and Japanese economies, Economy Minister Hiroko Ota said Tuesday. (Tue, 06 Nov 2007 03:43:00 GMT)

Guilty Plea In Mortgage Fraud Case
The Florida attorney general's office said Monday that a Hillsborough County man, arrested this year and charged with running a mortgage fraud scheme, has pleaded guilty to several fraud charges and will be sentenced next month. (Tue, 06 Nov 2007 05:06:37 GMT)

Fall seen in Northern Rock mortgage lending
Stricken mortgage bank Northern Rock has seen a dramatic fall in mortgage lending over the last two months since its financial troubles emerged, the Financial Times said. (Tue, 06 Nov 2007 07:15:00 GMT)

WECU loan center gold LEED certified
The Whatcom Educational Credit Union officially achieved gold certification from the U.S. Green Building Council for the environmental design standards met for its home loan center in Bellingham. (Tue, 06 Nov 2007 08:03:02 GMT)

Spin off ahead for loan Web site
In a dramatic remaking of media mogul Barry Diller's Internet conglomerate, Charlotte-based LendingTree is set to become an independent company again. New York-based IAC/InteractiveCorp. on Monday said it planned to spin off four companies to focus on core Web businesses such as Ask.com and Evite. LendingTree, an online loan matchmaker and lender, goes out on its own as it wrestles with a sharp ... (Tue, 06 Nov 2007 08:09:27 GMT)

Uganda: Barclays Launches Home Mortgage
allAfrica: African news and information for a global audience (Tue, 06 Nov 2007 08:09:44 GMT)

What are all these fees and why is a mortgage so expensive?
Not only are the expenses associated with a mortgage hard to understand, people often wonder why a loan costs so much. Here's a little background info to explain why home financing isn’t cheap… (Tue, 06 Nov 2007 08:32:30 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, 06 Nov 2007 09:15:56 GMT)

City ready to refinance transpark bonds
The city is set to refinance bonds for the Kentucky TriModal Transpark, with commissioners considering an ordinance Tuesday evening to sell up to $29.5 million in bonds for the project. (Tue, 06 Nov 2007 10:18:34 GMT)

"Insurance could stop mortgage fraud"
Irish banks and building societies can protect themselves from mortgage fraud by making it mandatory that title insurance is included in every conveyance process, according to a title insurance provider. (Tue, 06 Nov 2007 10:31:34 GMT)

2 sentenced in home-selling scheme
Two of the four people involved in a scheme to sell a Cherokee Triangle home they did not own have been sentenced in U.S. District Court. Freddie Johnson, 39, and Marilyn Rainey, 60, both of Chicago, had pleaded guilty to aggravated identity theft and mail fraud. (Tue, 06 Nov 2007 10:47:43 GMT)

Credit score can open door
Whether you’re considering buying a new home or refinancing an existing mortgage, credit scores matter more than ever. (Tue, 06 Nov 2007 11:16:57 GMT)

Ahead of the Bell: Mortgage Legislation
Legislation that would make sweeping changes to the home loan industry is up for a vote Tuesday in a key house committee amid intense lobbying from banking industry groups. (Tue, 06 Nov 2007 12:01:24 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, 06 Nov 2007 12:51:44 GMT)

Citizens Home Loan to Approve Mortgage Applicants Using Alternative Credit Histories
Citizens Home Loan and PRBC® today announced an agreement to enable individuals to build a PRBC Report and score, based on their history of making rent, utility, phone, and other recurring bill payments, that can be used to demonstrate creditworthiness for a mortgage loan. (Tue, 06 Nov 2007 13:00:00 GMT)

Citizens Home Loan to Approve Mortgage Applicants Using Alternative Credit Histories
Citizens Home Loan and PRBC® today announced an agreement to enable individuals to build a PRBC Report and score, based on their history of making rent, utility, phone, and other recurring bill payments, that can be used to demonstrate creditworthiness for a mortgage loan. (Tue, 06 Nov 2007 13:00:00 GMT)

3 accused of mortgage fraud
A Web site maintained by one of the key players in a Modesto-based mortgage elimination scheme sug- gested that homeowners could legally write off their loans by filing some simple paperwork with government agencies. (Tue, 06 Nov 2007 13:55:07 GMT)

Profit in 2008: Your Home
Tumbling home values. Soaring energy prices. A topsy-turvy stock market and a gazillion other financial worries, not the least of which is whether we'll spend the coming year mired in recession. (Tue, 06 Nov 2007 14:03:00 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 06 Nov 2007 14:09:34 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, 06 Nov 2007 14:10:55 GMT)

IndyMac mortgage posts big loss, cuts dividend
IndyMac Bancorp (IMB), one of the nation's largest independent mortgage lenders, posted a quarterly loss more than five times larger than it had projected Tuesday, hurt by mounting delinquencies and a collapse in investor demand to buy its home loans. (Tue, 06 Nov 2007 14:38:12 GMT)

IndyMac mortgage loss dwarfs its own forecast
IndyMac Bancorp Inc , one of the largest independent U.S. mortgage lenders, on Tuesday posted a quarterly loss more than five times larger than it had projected, hurt by mounting delinquencies and a collapse in investor demand to buy its home loans. (Tue, 06 Nov 2007 14:46:18 GMT)

Jury resumes work in Shields' mortgage fraud case
Federal jurors resumed deliberations this morning in the mortgage fraud case against former Jackson County Executive Katheryn Shields, her husband and two others. (Tue, 06 Nov 2007 16:02:17 GMT)

Lawmakers Wiegh Mortgage Bankruptcy Bill
U.S. House Democrats and Republicans are still negotiating a possible compromise on legislation that would give bankruptcy judges more flexibility to alter mortgage terms for borrowers facing foreclosure. (Tue, 06 Nov 2007 16:32:47 GMT)

Residential mortgage woes hit CapitalSource profits
CapitalSource Inc. saw its third-quarter earnings plummet 65 percent from losses in its residential mortgage investments as the housing market continued to decline. (Tue, 06 Nov 2007 16:40:21 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." (Tue, 06 Nov 2007 17:08:24 GMT)

Senate passes bills aimed at fighting mortgage loan problems
LANSING — The state Senate unanimously approved legislation today that supporters say could provide more accountability and responsibility in mortgage lending. (Tue, 06 Nov 2007 19:21:09 GMT)

Prudential Mortgage Capital Closes $16 Million Loan for Kensington Park Retirement Community
Prudential Mortgage Capital Company announced today that it has closed a $16 million loan on behalf of its general account for Kensington Park Retirement Community, located in Kensington, Md. Prudential Mortgage Capital is the commercial ... (Tue, 06 Nov 2007 19:24:33 GMT)

Mortgage Bills Pass in Michigan
The state Senate unanimously approved legislation Tuesday that supporters say could provide more accountability and responsibility in mortgage lending. (Tue, 06 Nov 2007 20:00:08 GMT)

ASK THE MORTGAGE EXPERT: Why is it so expensive to get a home loan?
Paying your originator is just the beginning of the mouths -- and families -- being fed by your business. (Tue, 06 Nov 2007 20:42:31 GMT)

Citi Names Executive to Repair Mortgage Problems
Richard Stuckey, who helped dismantle Long-Term Capital Management in 1998, will head a group devoted to managing $43 billion of Citi?s ailing mortgage-backed securities. (Tue, 06 Nov 2007 21:05:20 GMT)

New home loan scheme
Business Reporter DOHA Bank has launched a new mortgage campaign offering customers loans to buy homes in the freehold projects under development at an annual interest of 7%. (Tue, 06 Nov 2007 23:17:07 GMT)

Mortgage industry needs more layoffs, analysts say
The mortgage industry still isn't out of the woods and faces substantially more layoffs, according to a report. (Tue, 06 Nov 2007 23:21:34 GMT)

House panel OKs bill to hold mortgage lenders more accountable
WASHINGTON (MarketWatch) -- The House Financial Services Committee on Tuesday approved a bill that would impose sweeping changes on the mortgage industry, including minimum standards for approving loans and some new liabilities on those who securitize risky mortgages. (Wed, 07 Nov 2007 00:47:46 GMT)

House panel endorses mortgage reform package
The House of Representatives Financial Services Committee voted on Tuesday to create new consumer protection standards in the mortgage industry, which critics say dangerously eased lending standards during the recent housing boom. (Wed, 07 Nov 2007 00:51:48 GMT)

Home financing down, but Sydney prices recover
The August interest rate rise was responsible for a downturn in home loan approvals in September, but house prices continued to rise. (Wed, 07 Nov 2007 01:29:02 GMT)

Commonwealth Bank says to raise mortgage rates
SYDNEY, Nov 7 - Commonwealth Bank of Australia Ltd , Australia's second-biggest lender by assets, will raise interest rates on mortgage products following an increase in Australia's official cash rate, Chief Executive Ralph Norris said on Wednesday. (Wed, 07 Nov 2007 02:15:44 GMT)

More banks tighten loan standards
WASHINGTON -- More banks have tightened lending standards on home mortgages, the Federal Reserve said Monday in the latest sign of fallout from a spreading credit crisis. (Wed, 07 Nov 2007 02:18:03 GMT)

Texas Attorney General Adds Online Resources About Mortgage Loans
The new Web page, "Avoiding Home-Buying Pitfalls and Scams," provides consumers with guidelines about the home-buying process as well as other helpful information. The Web page also provides tips on recognizing "foreclosure rescue" scams, equity-stripping schemes and other refinancing pitfalls. (Wed, 07 Nov 2007 02:51:55 GMT)

Shop around if refinance stalled
Question: My sister-in-law is trying to refinance her home. She has roughly $250,000 equity in a $550,000 home. She applied back in early August and now we are almost in November. Her lender tells her everything is set to go but then keeps stalling asking for more verification info. (Wed, 07 Nov 2007 04:01:14 GMT)

VA Mortgage Center.com Launches Stats and Reports Section on VA Home Loans
VA Mortgage Center.com has added a statistics section entitled "VA Loan Stats and Reports" to its company's site resources. The new feature will keep the military and veteran community up-to-date on options and benefits under the VA Home Loan Program. (Wed, 07 Nov 2007 07:01:00 GMT)

VA Mortgage Center.com Launches Stats and Reports Section on VA Home Loans
VA Mortgage Center.com has added a statistics section entitled "VA Loan Stats and Reports" to its company's site resources. The new feature will keep the military and veteran community up-to-date on options and benefits under the VA Home Loan Program. (PRWeb Nov 7, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/Q3Jhcy1Db3VwLU1hZ24tWmV0YS1UaGlyLVplcm8= (Wed, 07 Nov 2007 08:22:58 GMT)

Ahead of the Bell:Mortgage Applications
Investors trying to gauge the impact of the housing market's slump on mortgage applications will watch Wednesday for industry data on loan volumes. (Wed, 07 Nov 2007 11:27:42 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? (Wed, 07 Nov 2007 11:53:46 GMT)

US Dollar Mixed Against Majors Ahead Of US MBA Mortgage Applications Data
(RTTNews) - Ahead of the release of US MBA mortgage applications data for the month of November, the greenback showed mixed trading. The US dollar gained against the franc but declined against the rest of its major counterparts. (Wed, 07 Nov 2007 12:11:44 GMT)

Mortgage applications fall in Nov 2 week
Applications for U.S. home mortgages fell for the first time in five weeks as a recent jump in loan refinancings came to a halt, an industry group said on Wednesday. (Wed, 07 Nov 2007 12:14:06 GMT)

Mortgage Application Volume Declines
Mortgage application volume fell 1.6 percent during the week ending Nov. 2, according to the trade group Mortgage Bankers Association's weekly mortgage applications survey released Wednesday. (Wed, 07 Nov 2007 12:16:07 GMT)

Week-to-week mortgage applications fall 1.6%, MBA says
CHICAGO (MarketWatch) -- With mortgage rates little moved, the volume of mortgage applications filed last week decreased a seasonally adjusted 1.6% compared to the prior week, the Mortgage Bankers Association reported Wednesday. (Wed, 07 Nov 2007 12:17:46 GMT)

Mortgage applications fall in Nov 2 week
NEW YORK (Reuters) - Applications for U.S. home mortgages fell for the first time in five weeks as a recent jump in loan refinancings came to a halt, an industry group said on Wednesday. (Wed, 07 Nov 2007 12:37:24 GMT)

Mortgage applications ease
Decline in refinancing volume sends applications 1.6% lower overall, according to MBA survey; purchase applications relatively steady. (Wed, 07 Nov 2007 13:01:10 GMT)

Mortgage applications decline
Mortgage application volume fell 1.6 percent during the week ending Nov. 2, according to the Mortgage Bankers Association's weekly survey. (Wed, 07 Nov 2007 13:11:20 GMT)

Family of 12 faces eviction for not paying bank loan
A FAMILY of 12 has been sent packing, literally, from their flat next month for not keeping up with bank loan payments. Mr Mohd Ali, 40, his wife Latipah, 35, and their 10 children will soon be evicted from their home, in which they have lived for more than four years. (Wed, 07 Nov 2007 13:36:55 GMT)

Week-to-week mortgage applications fall 1.6%, MBA says
Week-to-week mortgage applications fall 1.6%, MBA says (Wed, 07 Nov 2007 14:11:50 GMT)

Fannie Mae, Freddie Mac eyed in NY mortgage probe
New York Attorney General Andrew Cuomo plans to announce a "significant new development" on Wednesday in his probe into the mortgage industry involving Fannie Mae and Freddie Mac , his office said. (Wed, 07 Nov 2007 14:25:29 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. (Wed, 07 Nov 2007 14:25:43 GMT)

ING Bank Slaski beats Q3 forecasts on one-off gain, loan growth may slow UPDATE
(Adds comments from CEO and analyst, details) WARSAW (Thomson Financial) - Polish mid-sized lender ING Bank Slaski expects that its loan growth volume may slow down, after a doubling in home-loan portfolio value and a 38.4 mln zloty one-off gain lifted the bank's third-quarter net profit to a new record high. (Wed, 07 Nov 2007 14:27:09 GMT)

U.S. Stocks Drop on Slumping Dollar, Mortgage Concern; GM Falls
Nov. 7 (Bloomberg) -- U.S. stocks fell the most in a week after General Motors Corp. posted a record loss, the dollar tumbled and concern grew that mortgage lenders face government probes. (Wed, 07 Nov 2007 15:27:26 GMT)

Treasurys mixed despite mortgage worries
More fears about mortgage-based investments benefits bond prices, but stronger-than-expected wholesale data pushes the other way. (Wed, 07 Nov 2007 16:46:20 GMT)

Mortgage players speed-date to lift subprime gloom
It's not just for lonely hearts anymore. Speed-dating -- a way for busy singles to meet -- was on the event list at a distinctly unromantic venue, the Information Management Network's ABS East conference, in a bid to bring together investors and issuers still reeling from this year's U.S. subprime mortgage meltdown. (Wed, 07 Nov 2007 17:01:38 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. (Wed, 07 Nov 2007 17:52:15 GMT)

Fannie, Freddie caught up in N.Y. mortgage probe
WASHINGTON (MarketWatch) -- New York's attorney general is asking mortgage buyers Fannie Mae and Freddie Mac for information about their loans purchased from banks including Washington Mutual as part of a probe into the mortgage industry. (Wed, 07 Nov 2007 18:03:13 GMT)

NY subpoenas Fannie and Freddie in mortgage probe
New York Attorney General Andrew Cuomo announced on Wednesday that his office was sending subpoenas to Fannie Mae and Freddie Mac as part of his expanding probe of the home mortgage industry. (Wed, 07 Nov 2007 18:10:22 GMT)

Cook County Property Owners Confused About Mortgage Company Messages
The Cook County treasurer said Wednesday that property owners shouldn't be worried if they get a confusing message in the mail from their mortgage company. (Wed, 07 Nov 2007 18:18:24 GMT)

Cuomo Widens Mortgage Probe, Taps Fannie, Freddie (Update1)
Nov. 7 (Bloomberg) -- New York Attorney General Andrew Cuomo broadened his nine-month investigation of the mortgage industry, issuing subpoenas to Fannie Mae and Freddie Mac seeking information on loans they bought from banks including Washington Mutual Inc. (Wed, 07 Nov 2007 18:20:43 GMT)

Home loan investigation grows
New York Attorney General Andrew Cuomo's subpoenas to government-sponsored lenders Fannie Mae and Freddie Mac sent another shock into the home mortgage industry, where he said conflicts of interests are costing consumers thousands of dollars because of inflated appraisals. (Wed, 07 Nov 2007 19:07:34 GMT)

Sector Wrap: Mortgage Lenders & Insurers
Mortgage lenders and insurers fell sharply Wednesday amid continued worries about problems in the credit and housing markets. (Wed, 07 Nov 2007 19:53:36 GMT)

Cuomo Subpoenas Fannie, Freddie, Widening Loan Probe (Update3)
Nov. 7 (Bloomberg) -- New York Attorney General Andrew Cuomo subpoenaed Fannie Mae and Freddie Mac as he expanded his investigation into ``widespread'' collusion between real estate appraisers and lenders including Washington Mutual Inc. to inflate home values. (Wed, 07 Nov 2007 19:57:21 GMT)

U.S. Stocks Drop on Mortgage Probe, Slumping Dollar; GM Falls
Nov. 7 (Bloomberg) -- U.S. stocks fell to the lowest since September after New York expanded its probe of collusion in the mortgage industry, General Motors Corp. posted a record loss and the dollar tumbled. (Wed, 07 Nov 2007 20:20:43 GMT)

U.S. Stocks Drop on Mortgage Probe, Slumping Dollar; GM Falls
Nov. 7 (Bloomberg) -- U.S. stocks fell to the lowest since September after New York expanded its probe of collusion in the mortgage industry, General Motors Corp. posted a record loss and the dollar tumbled. (Wed, 07 Nov 2007 20:27:21 GMT)

U.S. Stocks Drop on Mortgage Probe, Slumping Dollar; GM Falls
Nov. 7 (Bloomberg) -- U.S. stocks fell to the lowest in seven weeks after New York expanded its probe of collusion in the mortgage industry, General Motors Corp. posted a record loss and the dollar tumbled. (Wed, 07 Nov 2007 20:35:43 GMT)

Cuomo subpoenas Fannie, Freddie in mortgage probe
New York Attorney General Andrew Cuomo announced Wednesday that his office was sending subpoenas to Fannie Mae and Freddie Mac as part of his expanding probe of the home mortgage industry. (Wed, 07 Nov 2007 20:36:43 GMT)

U.S. Stocks Drop on Mortgage Probe, Slumping Dollar; GM Falls
Nov. 7 (Bloomberg) -- U.S. stocks fell to the lowest in seven weeks after New York expanded its probe of collusion in the mortgage industry, General Motors Corp. posted a record loss and the dollar tumbled. (Wed, 07 Nov 2007 20:42:21 GMT)

Federal Home Loan Bank of Boston Announces Third Quarter 2007 Results
The Federal Home Loan Bank of Boston announced the following unaudited results for the quarter ended September 30, 2007: (Wed, 07 Nov 2007 21:15:00 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? (Wed, 07 Nov 2007 22:22:49 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, 07 Nov 2007 22:22:59 GMT)

Senate passes bills aimed at fighting mortgage loan problems
LANSING (AP) -- The state Senate unanimously approved legislation Tuesday that supporters say could provide more accountability and responsibility in mortgage lending. (Wed, 07 Nov 2007 22:40:11 GMT)

AIG Profit Falls 27 Percent on Mortgage-Linked Losses (Update2)
Nov. 7 (Bloomberg) -- American International Group Inc., the world's largest insurer, said third-quarter profit fell 27 percent as the U.S. housing recession contributed to losses in its mortgage guarantee and credit protection businesses. (Wed, 07 Nov 2007 23:12:21 GMT)

House bill boosts home-loan program for veterans
WASHINGTON (AP) - The U.S. House has passed a bill to increase funding for a low-interest loan program that helps veterans in Texas and four other states buy homes. (Wed, 07 Nov 2007 23:15:12 GMT)

House bill boosts home-loan program for veterans
WASHINGTON (AP) - The U.S. House has passed a bill to increase funding for a low-interest loan program that helps veterans in Texas and four other states buy homes. (Wed, 07 Nov 2007 23:16:30 GMT)

House bill boosts home-loan program for veterans
Associated Press - November 7, 2007 6:05 PM ET WASHINGTON (AP) - The U.S. House has passed a bill to increase funding for a low-interest loan program that helps veterans in Texas and four other... (Wed, 07 Nov 2007 23:17:01 GMT)

House bill boosts home-loan program for veterans
WASHINGTON -- The House has passed a bill to increase funding for a low-interest loan program that helps veterans in Oregon and four other states, including Texas, buy homes. (Wed, 07 Nov 2007 23:21:34 GMT)

U.S. Stocks Drop on Mortgage Probe, Slumping Dollar; GM Falls
Nov. 7 (Bloomberg) -- U.S. stocks fell, erasing their gains since the Federal Reserve's Sept. 18 interest-rate cut, after New York expanded its probe of the mortgage industry, General Motors Corp. posted a record loss and the dollar tumbled. (Wed, 07 Nov 2007 23:27:21 GMT)

Morgan Stanley: $3.7B subprime mortgage writedown
The investment bank said it could lose up to $6B if all subprime mortgage-related investments were to go bad. (Wed, 07 Nov 2007 23:46:00 GMT)

House bill boosts home-loan program for veterans
The U.S. House has passed a bill to increase funding for a low-interest loan program that helps veterans in Alaska and four other states buy homes. Under the measure, bond limits for the Oregon Veterans Home Loan Program would be quadrupled over four years. (Thu, 08 Nov 2007 00:20:50 GMT)

Banks Fight Home Loan Bankruptcy Bill
Mortgage lenders are fighting lawmakers' efforts to enable bankrupt borrowers to reduce the size of their home loans, arguing this change would magnify the housing crisis by driving up interest rates. (Thu, 08 Nov 2007 00:33:46 GMT)

National Australia Bank to raise home loan rate
SYDNEY, Nov 8 - National Australia Bank Ltd , the nation's top lender by assets, said on Thursday it will increase its benchmark home loan rate by 25 basis points. (Thu, 08 Nov 2007 02:01:19 GMT)

UPDATE 1-National Australia Bank to raise home loan rate
SYDNEY, Nov 8 (Reuters) - National Australia Bank Ltd NAB.AX (NAB), the nation's top lender by assets, said on Thursday it will increase its benchmark home loan rate by 25 basis points, matching a central bank rate hike the previous day. (Thu, 08 Nov 2007 02:28:47 GMT)

NAB the first to raise home loan rates
NATIONAL Australia Bank is the first of the big five banks to lift interest rates on home loans - and the lender is warning it may lift borrowing costs by more than yesterday's official rate rise. (Thu, 08 Nov 2007 03:02:00 GMT)

NAB the first to raise home loan rates
NATIONAL Australia Bank is the first of the big five banks to lift interest rates on home loans - and the lender is warning it may lift borrowing costs by more than yesterday's official rate rise. (Thu, 08 Nov 2007 03:02:00 GMT)

Fueling the mortgage mess
The mortgage lending crisis bears some eerie similarities to the tech-stock boom and bust of the 1990s. For a while, an escalating market provided so much money that unscrupulous people took advantage of lax controls and regulations. Then market conditions made everything tumble. (Thu, 08 Nov 2007 07:20:54 GMT)

Mortgage fraud task force charts progress
Mayor Carlos Alvarez's Mortgage Fraud Task Force met Wednesday to discuss progress in the war on real estate fraud in South Florida, including draft legislation that would protect innocent homeowners from artificially high property taxes and the wiles of predatory lenders. (Thu, 08 Nov 2007 08:31:43 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? (Thu, 08 Nov 2007 09:16:17 GMT)

Lenders slam mortgage regulations
New regulations aimed at curbing abuses in the mortgage industry are being called unfair by some mortgage officials, prompting a meeting tomorrow with the staff of Attorney General Martha Coakley. (Thu, 08 Nov 2007 09:31:30 GMT)

Judge tosses out lawyer's mortgage fraud charges
A judge has thrown out charges against a York Region lawyer who was accused of participating in a mortgage fraud, ruling he has already suffered financially, emotionally and physically because of a delay in bringing his charges to court. (Thu, 08 Nov 2007 09:47:14 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, 08 Nov 2007 10:29:05 GMT)

AHM accused of providing faulty mortgage data
A mortgage insurer has accused bankrupt Melville-based lender American Home Mortgage of "relying on misrepresentations of borrowers and appraisers," according to a complaint that American Home filed against Triad Guaranty Insurance Corp. earlier this week. (Thu, 08 Nov 2007 11:33:14 GMT)

How to become mortgage-free
Emma Tyrrell finds out how Jill Shaw managed to become mortgage-free at just 40, and meets two other borrowers who hope to clear their home loans early. (Thu, 08 Nov 2007 11:33:57 GMT)

Bankrate: Mortgage Rates Nudge Higher
Mortgage rates moved up this week, with the average conforming 30-year fixed mortgage rate now 6.34 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.38 discount and origination points. (Thu, 08 Nov 2007 12:30:00 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. (Thu, 08 Nov 2007 12:52:53 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, 08 Nov 2007 13:25:44 GMT)

Borrowers Predicting Mortgage Rates Based on the Fed's Rate Adjustments May be in for Unpleasant Surprises
Each time the Federal Reserve cuts interest rates, borrowers converge upon their mortgage representatives expecting lower interest rates. (Thu, 08 Nov 2007 14:00:00 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? (Thu, 08 Nov 2007 15:23:12 GMT)

New Senate bill seeks better mortgage disclosure
WASHINGTON (MarketWatch) -- Understanding a mortgage's terms and conditions would become easier under a bill authored by Sen. Charles Schumer. (Thu, 08 Nov 2007 15:47:57 GMT)

Home Loan Investigation Grows
New York Attorney General Andrew Cuomo's subpoenas to government-sponsored lenders Fannie Mae and Freddie Mac sent another shock into the home mortgage industry, where he said conflicts of interests are costing consumers thousands of dollars because of inflated appraisals. (Thu, 08 Nov 2007 15:55:04 GMT)

Mortgage rates continue to slip
Mortgage rates eased in response to the Federal Reserve's decision to cut interest rates, Freddie Mac reported Thursday. (Thu, 08 Nov 2007 16:01:10 GMT)

U.S. mortgage rates drop: Freddie Mac
CHICAGO (MarketWatch) -- Long-term mortgage rates fell slightly, but short-term rates dropped more this week, according to Freddie Mac's weekly survey. (Thu, 08 Nov 2007 16:03:36 GMT)

U.S. mortgage rates lowest since May
U.S. mortgage rates were reported down this week to their lowest level since May. (Thu, 08 Nov 2007 16:38:03 GMT)

HSBC Ends Sales, Trading of Mortgage-Backed Securities in U.S.
Nov. 8 (Bloomberg) -- HSBC Holdings Plc, the biggest U.K. bank, said it stopped sales and trading of mortgage-backed securities in the U.S. at its investment-banking unit. (Thu, 08 Nov 2007 17:05:53 GMT)

House bill boosts home-loan program for veterans
The U.S. House has passed a bill to increase funding for a low-interest loan program that helps veterans in Alaska and four other states buy homes. (Thu, 08 Nov 2007 17:07:22 GMT)

HSBC Ends Sales of Mortgage-Backed Securities in U.S. (Update1)
Nov. 8 (Bloomberg) -- HSBC Holdings Plc, the biggest U.K. bank, said it stopped sales and trading of mortgage-backed securities in the U.S. after the collapse of the subprime market forced it to close down two origination units. (Thu, 08 Nov 2007 17:35:53 GMT)

6 KC-Area Residents Indicted In Loan Scheme
Six people in the Kansas City area have been indicted by a federal grand jury in a $14 million loan fraud scheme that targeted low-income and inexperienced home buyers. (Thu, 08 Nov 2007 17:36:29 GMT)

HSBC to close U.S. mortgage-backed securities desk
Europe's biggest bank HSBC Holdings (O005.HK) said it had stopped selling and trading mortgage-backed securities in the United States, as part of 120 job cuts in its investment bank unit on Thursday. (Thu, 08 Nov 2007 18:35:49 GMT)

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