Mortgage News Nov 2007
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E-Loan to cut 400 jobs in East Bay
The mortgage morass has engulfed E-Loan, an online loan firm that said Monday it intends to cut more than 400 jobs at its Pleasanton headquarters as part of a restructuring. (Tue, 13 Nov 2007 09:48:09 GMT)
Mortgage-fraud task force opens command center in Cleveland
A task force hacking through the Cleveland area's tangled web of mortgage fraud has so much work that it has opened a full-time, high-tech command center. (Tue, 13 Nov 2007 09:50:14 GMT)
Papers: Lee impresses on loan
Plymouth eye Martin move Plymouth boss Ian Holloway wants to take Manchester United winger Lee Martin on loan for the rest of the season. (Tue, 13 Nov 2007 09:54:30 GMT)
Refinancing a mortgage in Chapter 13
Finding a mortgage while in bankruptcy is a tricky and expensive proposition, says the Bankruptcy Adviser. (Tue, 13 Nov 2007 11:00:00 GMT)
E-Loan to cut more than 400 jobs
The mortgage morass has engulfed E-Loan, an online loan firm that said Monday it intends to chop more than 400 jobs from its Pleasanton headquarters as part of a wrenching and broad restructuring. (Tue, 13 Nov 2007 11:20:09 GMT)
Mortgage lending slows again
Costly mortgages are set to repel growing numbers of buyers from the housing market as the slowdown continues, according to the Council of Mortgage Lenders. (Tue, 13 Nov 2007 11:45:09 GMT)
Indiana programs offer foreclosure help
INDIANAPOLIS (AP) -- State officials have launched a Web site and a telephone hot line to help Hoosiers who've fallen behind on their mortgage payments to avoid losing their homes. (Tue, 13 Nov 2007 12:12:32 GMT)
Some Mortgage Lenders May Leave Bay State
The mortgage crisis in Massachusetts could be about to get a whole lot messier. (Tue, 13 Nov 2007 12:13:17 GMT)
Mortgage loans' share in Russia's GDP extremely low
RBC, 13.11.2007, Moscow 14:26:27. Mortgage loans account for 1 percent of Russia's GDP, Garegin Tosunian, President of the Association of Russian Banks (ARB), told a mortgage conference in Moscow today. (Tue, 13 Nov 2007 12:14:39 GMT)
Three-Alarm Fire Rips Through Nashua Home
A three-alarm fire ripped through a vacant two-story home in Nashua Tuesday morning (Tue, 13 Nov 2007 12:42:34 GMT)
(AFX UK Focus) 2007-11-13 12:22 GMT: UK gross mortgage lending declines in Sept; first time buyer loans slump - CML
LONDON (Thomson Financial) - UK mortgage lending declined in September, while loans to first-time buyers fell sharply as further evidence emerged off a slowdown in the UK housing market, figures from the Council of Mortgage Lenders showed. (Tue, 13 Nov 2007 12:52:05 GMT)
Bank of America Expands Reverse Mortgage Business to Southeast
Bank of America today announced that it has expanded its consumer reverse mortgage business to the Southeast, making its Senior Equity Reverse Mortgage suite of products available in Georgia, North Carolina and South Carolina. (Tue, 13 Nov 2007 13:00:00 GMT)
One-Third of Americans 'Concerned' That Subprime Mortgage Crisis May Affect Ability to Obtain Car Loans, Other Credit, ...
LOS ANGELES----As woes in the subprime mortgage market persist, a new survey indicates that Americans shopping for car loans and other forms of credit are beginning to get nervous. (Tue, 13 Nov 2007 13:00:00 GMT)
Countrywide mortgage loans drop 48 percent in October
Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday said it funded 48 percent fewer mortgages in October than a year earlier, and significantly reduced some of the riskier home loans that prompted its recent financial troubles. (Tue, 13 Nov 2007 13:20:31 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, 13 Nov 2007 14:23:52 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, 13 Nov 2007 14:24:52 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, 13 Nov 2007 14:25:13 GMT)
Fewer illegal residents apply for home loans
Deportation fears lead to big drop in applications Home loans to illegal immigrants have plummeted this year, bankers say, as a federal crackdown and a sluggish real estate market have combined to scare away potential buyers. (Tue, 13 Nov 2007 14:31:49 GMT)
Countrywide's October mortgage-loan fundings fall 48%
BOSTON (MarketWatch) -- Countrywide Financial Corp. said Tuesday its total October mortgage-loan fundings fell 48% from a year earlier as the lender continues to struggle against a slumping housing market and the credit crunch. (Tue, 13 Nov 2007 14:33:38 GMT)
Family First Opens Home and Business Loan Center
OREM, Utah----Family First Federal Credit Union today announced the opening its Home and Business Loan Center. The new facility is designed to improve the way the company serves its members by expanding and centralizing its home mortgage department along with business and commercial loan services. (Tue, 13 Nov 2007 15:00:00 GMT)
Medical device firm moves into mortgage office space
Downsizing by a large national mortgage company has allowed a medical device developer to expand its Orlando operations. (Tue, 13 Nov 2007 15:36:38 GMT)
Countrywide loans drop 48 percent
Countrywide Financial Corp on Tuesday said October mortgage loan volume fell 48 percent from a year earlier, but credit quality has begun to stabilize as the largest U.S. mortgage lender curtails riskier home loans. (Tue, 13 Nov 2007 15:57:53 GMT)
Goldman Doesn't Plan Significant Mortgage Writedown (Update1)
Nov. 13 (Bloomberg) -- Goldman Sachs Group Inc., the biggest U.S. securities firm by market value, doesn't plan to take any significant writedowns on mortgage-related assets, Chief Executive Officer Lloyd Blankfein said today. (Tue, 13 Nov 2007 16:42:31 GMT)
AG Delays Crack Down On Mortgage Industry
Attorney General Martha Coakley is delaying new regulations cracking down on the mortgage industry after lenders raised objections. (Tue, 13 Nov 2007 17:24:26 GMT)
US Mortgage Bank Earnings Will Be Hit In 2008 -S&P
NEW YORK -(Dow Jones)- The chaos in the mortgage markets is only going to get worse and put a dent in U.S. mortgage bank earnings, according to a report released Tuesday by Standard & Poor's. (Tue, 13 Nov 2007 17:42:22 GMT)
Countrywide Loan Production Fell in Oct.
Countrywide Financial Corp. said Tuesday its level of home loan production fell by almost half last month from the same month last year, while the percentage of delinquent loans rose as the mortgage lender continued to grapple with the fallout from the U.S. housing slump. (Tue, 13 Nov 2007 19:01:12 GMT)
Campaign moves to battle for the mortgage belt
CANBERRA - The campaign for the November 24 election has moved into a savage battle for the nation's struggling mortgage belt and the votes of young Australians for whom home ownership has become the impossible dream. (Tue, 13 Nov 2007 19:08:03 GMT)
Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Tue, 13 Nov 2007 19:21:36 GMT)
Countrywide mortgage loan production sank 48 percent in October
LOS ANGELES ( Map , News ) - Countrywide Financial Corp. said Tuesday its level of home loan production fell by nearly half last month compared to the same month last year, while the percentage of delinquent loans rose as the mortgage lender continued to grapple with the fallout from the U.S. housing slump. (Tue, 13 Nov 2007 19:51:28 GMT)
S&P: Mortgage Banks to Be Hit Next Year
The chaos in the mortgage markets is only going to get worse in 2008 and will put a dent in U.S. mortgage bank earnings, according to a report released Tuesday by Standard & Poor's. (Tue, 13 Nov 2007 20:36:05 GMT)
Blackbird tries to take wing
Given the turmoil that has engulfed Northern Rock since it was forced to seek an emergency loan from the Bank of England two months ago, it must have been a challenge to present the beleaguered mortgage lender as an attractive proposition. (Tue, 13 Nov 2007 21:10:13 GMT)
American Home Seeks $35M for Loan Unit
American Home Mortgage Investment Corp. is seeking court approval for a temporary $35 million loan to keep its loan-servicing business healthy until it is taken over by W.L. Ross & Co. (Tue, 13 Nov 2007 21:11:07 GMT)
E-Loan laying off 44 percent of Pleasanton work force
Online mortgage lender E-Loan Inc. will cut 44 percent of the work force in its Pleasanton headquarters over the next two months, citing reduced overall demand for home loans. (Tue, 13 Nov 2007 21:38:24 GMT)
JPMorgan Bucks Mortgage Trend
The bank says it's hiring -- even at its mortgage arm. (Tue, 13 Nov 2007 21:49:08 GMT)
Dream Home or Dream On: Part II
Foreclosures. Rate hikes. Falling values. Are fears of the mortgage meltdown preventing you from trading up, or jumping into, a home of your own, even though East Tennessee has plenty of choices, and decent loan rates? (Tue, 13 Nov 2007 21:50:25 GMT)
Mass. Delays New Mortgage Rules
Attorney General Martha Coakley ordered a month-and-a-half delay for stricter state mortgage lending regulations that had been set to take effect Thursday, a slowdown prompted by industry objections that the rules could undercut compensation for mortgage brokers. (Tue, 13 Nov 2007 21:50:58 GMT)
Countrywide Loan Production Fell in Oct.
Countrywide Financial Corp. said Tuesday its level of home loan production fell by almost half last month from the same month last year, while the percentage of delinquent loans rose as the mortgage lender continued to grapple with the fallout from the U.S. housing slump. (Tue, 13 Nov 2007 21:58:54 GMT)
S&P reports mortgage turmoil to worsen in 2008
The credit rating agency says mortgage bank earnings will suffer next year as the fallout of the subprime debacle continues. (Tue, 13 Nov 2007 23:01:00 GMT)
Countrywide mortgage production tumbles
Countrywide Financial Corp. said Tuesday its level of home loan production fell by almost half last month from the same month last year, while the percentage of delinquent loans rose as the mortgage lender continued to grapple with the fallout from the U.S. housing slump. (Tue, 13 Nov 2007 23:45:08 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Tue, 13 Nov 2007 23:55:46 GMT)
E-Loan laying off 410 workers in Pleasanton
Online mortgage lender E-Loan Inc. will cut 44 percent of the workers in its Pleasanton headquarters over the next two months because of reduced overall demand for home loans. (Wed, 14 Nov 2007 00:52:26 GMT)
Subprime crisis weighing on local mortgage companies
With the national mortgage industry crashing under the weight of subprime loans, mortgage and title companies in Tooele County are down -- and a few may be out. (Wed, 14 Nov 2007 00:54:01 GMT)
Why Now is a Good Time to Refinance
(ARA) - If you're a homeowner, the recent drop in interest rates has opened up the possibility of big savings on your monthly payments. (Wed, 14 Nov 2007 02:58:58 GMT)
New Mortgage Regs Delayed
Massachusetts' Attorney General has extended the deadline for implementing new regulations for mortgage brokers and lenders. Today, we talk with Martha Coakley about the delay and industry reaction to the revised regulations. (Wed, 14 Nov 2007 03:17:10 GMT)
Fannie Mae, FHA outline mortgage crunch steps
LAS VEGAS – The top officers at two of the country's mortgage giants said Tuesday that they are taking steps to deal with the mortgage crunch and rising foreclosure rates. (Wed, 14 Nov 2007 05:24:56 GMT)
Financial fundamentals: Thinking about a new mortgage in 2008?
If you're thinking about moving or refinancing next year, plan now for how you'll approach lenders. The subprime mortgage debacle has made lenders skittish about future business. (Wed, 14 Nov 2007 08:04:08 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, 14 Nov 2007 09:21:45 GMT)
Slow mortgage growth seen
The chaos in the mortgage markets is only going to get worse in 2008 and will put a dent in U.S. (Wed, 14 Nov 2007 09:53:13 GMT)
Top home lender's production down half
LOS ANGELES — Countrywide Financial Corp. said Tuesday its level of home loan production fell by nearly half in October compared to the same month last year, while the percentage of delinquent loans rose as the mortgage lender continued to grapple with the fallout from the U.S. housing slump. (Wed, 14 Nov 2007 10:07:24 GMT)
Affordable home loans lead to year with high home sales
Things are looking up for consumers who are searching for a mortgage loan to either finance the purchase of a home or refinance an existing loan. (Wed, 14 Nov 2007 10:27:07 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." (Wed, 14 Nov 2007 10:37:48 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, 14 Nov 2007 10:38:02 GMT)
Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Wed, 14 Nov 2007 10:52:42 GMT)
AHM seeking $35M loan to keep servicing business afloat
American Home Mortgage Investment Corp. is seeking court approval for a $35-million loan to keep its loan-servicing business healthy until taken over by W.L. Ross & Co. (Wed, 14 Nov 2007 11:02:45 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, 14 Nov 2007 11:21:13 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, 14 Nov 2007 11:36:36 GMT)
HSBC mortgage takes $3.4B charge in US
HSBC Holdings PLC will take a $3.4 billion charge against third-quarter profits because of accelerating losses at its HSBC Finance Corp. mortgage business in the United States, the company said Wednesday. (Wed, 14 Nov 2007 11:45:56 GMT)
Mortgage applications rise, rates near lows: group
Mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said on Wednesday. (Wed, 14 Nov 2007 12:08:27 GMT)
Mortgage Application Volume Increases
Mortgage application volume increased 5.5 percent during the week ending Nov. 9, according to trade group Mortgage Bankers Association's weekly application survey. (Wed, 14 Nov 2007 12:11:49 GMT)
HSBC cuts deeper to account for U.S. mortgage woes
HSBC Holdings PLC will take a $3.4 billion charge against third-quarter profits because of accelerating losses at its HSBC Finance Corp. mortgage business in the United States, the company said today. (Wed, 14 Nov 2007 12:12:32 GMT)
Home loan demand at 1-year high as rates stay low
Mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said on Wednesday. (Wed, 14 Nov 2007 12:16:13 GMT)
Mortgage applications rose 5.5% last week, MBA data show
LAS VEGAS (MarketWatch) -- Mortgage application filings increased 5.5% last week on a seasonally adjusted basis compared to the prior week, driven by a jump in applications to refinance existing loans, the Mortgage Bankers Association reported on Wednesday. (Wed, 14 Nov 2007 12:17:46 GMT)
U.S. mortgage applications rise
NEW YORK — U.S. mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said Wednesday. (Wed, 14 Nov 2007 12:42:13 GMT)
U.S. MBA's Mortgage Applications Index Rose 5.5% Last Week
Nov. 14 (Bloomberg) -- Mortgage applications in the U.S. rose last week as refinancing jumped to the highest level in more than two years and filings for purchases rebounded. (Wed, 14 Nov 2007 12:42:28 GMT)
Home loan demand at 1-year high as rates stay low
NEW YORK (Reuters) - Mortgage applications rose last week, with demand hitting its highest level in nearly a year as interest rates hovered near recent lows, an industry group said on Wednesday. (Wed, 14 Nov 2007 12:46:52 GMT)
U.S. mortgage applications rise
Mortgage Bankers Association says demand hit its highest level in nearly a year last week as interest rates hovered near recent lows (Wed, 14 Nov 2007 12:54:28 GMT)
U.S. MBA's Mortgage Applications Index Rose 5.5% Last Week
Nov. 14 (Bloomberg) -- Mortgage applications in the U.S. rose last week as refinancing jumped to the highest level in more than two years and filings for purchases rebounded. (Wed, 14 Nov 2007 13:21:23 GMT)
U.S. mortgage applications at highest level this year
WASHINGTON – Mortgage applications nationwide rose last week to their highest level this year, led by a surge in homeowners seeking to refinance, the Mortgage Bankers Association reported today. (Wed, 14 Nov 2007 16:07:08 GMT)
Mortgage Lenders Settles in Ch 11 Case
Failed subprime operator Mortgage Lenders Network USA Inc. has reached settlements with regulators in four states that had ordered the company out of the lending business and threatened it with millions of dollars in fines. (Wed, 14 Nov 2007 16:36:06 GMT)
Mortgage reform bill goes to vote in House
As the fallout from the subprime lending crisis continues, House lawmakers are scheduled to vote Thursday on a major bill reforming the mortgage industry. Passed by the House Financial Services Committee on Nov. 6, the bill includes minimum standards for approving loans and some new liabilities on those who securitize risky mortgages. (Wed, 14 Nov 2007 18:47:56 GMT)
HSBC mortgage losses rise in US
HSBC Holdings PLC, Europe's biggest bank, reported another big hit from exposure to the U.S. mortgage crisis Wednesday and warned that bad debts could increase if the U.S. housing market weakens further. (Wed, 14 Nov 2007 19:13:53 GMT)
Federal Home Loan Bank of Chicago Announces Board of Directors Election Results
The Federal Home Loan Bank of Chicago announces the following changes to its Board of Directors, which become effective January 1, 2008: (Wed, 14 Nov 2007 19:38:00 GMT)
Preemptive strike: States vs. feds in mortgage mess
WASHINGTON (MarketWatch) -- When it comes to protecting mortgage borrowers, who can do a better job, Washington or the states? (Wed, 14 Nov 2007 20:03:42 GMT)
Federal Home Loan Bank of Indianapolis Announces Third Quarter 2007 Financial Filing
INDIANAPOLIS, Nov. 14, 2007 -- The Federal Home Loan Bank of Indianapolis announced today its third quarter 2007 10-Q filing with the Securities and Exchange Commission . (Wed, 14 Nov 2007 20:06:24 GMT)
Mortgage writedowns continue at banks
Billions of dollars in mortgage losses reported during the third quarter could be a prelude to even bigger losses in the fourth quarter, as two more financial institutions warned of substantial writedowns on Wednesday. (Wed, 14 Nov 2007 20:14:55 GMT)
ARM Borrowers Moving to Fixed-Rate Loans
Fixed-rate mortgages continue to dominate the refinance market, as 85 percent of borrowers who refinanced a one-year adjustable-rate mortgage in the third quarter chose a fixed-rate mortgage, said Freddie Mac in a quarterly report. (Wed, 14 Nov 2007 20:28:26 GMT)
Dream Home or Dream On: Part III
The east, midwest, and west coast home mortgage meltdown has trickled down, creating more of a buyer's market here in East Tennessee. Should you make an offer on your dream home? Re-finance your loan? Or dream on? (Wed, 14 Nov 2007 21:20:25 GMT)
Mortgage writedowns continue at banks
Billions of dollars in mortgage losses reported during the third quarter could be a prelude to even bigger losses in the fourth quarter, as two more financial institutions warned of substantial writedowns on Wednesday. (Wed, 14 Nov 2007 21:58:33 GMT)
Get rid of home loan
I want to get rid of my home loan as quickly as possible, but I am not sure how to do it. Can you give me some tips? (Wed, 14 Nov 2007 23:41:00 GMT)
Nevada lawmakers water down mortgage crisis assistance
CARSON CITY, Nev. (AP) - Republicans on a legislative funding panel opposed a $450,000 plan for an 800 phone line and more counselors to help consumers caught up in Nevada's mortgage lending crisis, resulting in a stopgap $100,000 plan Wednesday. (Thu, 15 Nov 2007 00:48:41 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? (Thu, 15 Nov 2007 01:13:44 GMT)
Fairfax Media home loan affordability
This series reports on changing home loan affordability for both typical buyers, and first-home buyers, in detail for 12 regions. Current real estate prices, mortgage rates and incomes are three key determinants of home loan affordability. (Thu, 15 Nov 2007 03:30:03 GMT)
Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Thu, 15 Nov 2007 03:59:34 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, 15 Nov 2007 04:00:14 GMT)
Write-Downs Portend 4th-Quarter Mortgage Losses
Billions of dollars in mortgage losses reported during the third quarter could be a prelude to bigger losses in the fourth quarter, as two more financial institutions warned of substantial write-downs Wednesday. (Thu, 15 Nov 2007 05:07:27 GMT)
GE Bond fund reports mortgage-related woes
HONG KONG (MarketWatch) -- A bond fund run by General Electric Asset Management has sustained losses in mortgage and asset-backed securities and will offer investors redemption below par, according to media reports. (Thu, 15 Nov 2007 05:48:54 GMT)
White House Objects to Parts Of Mortgage-Reform Bill
The White House released a brief statement yesterday opposing key parts of legislation aimed at curbing abusive mortgage-lending practices that have fueled a jump in foreclosures. (Thu, 15 Nov 2007 09:10:18 GMT)
Mortgage losses may lead to dim 4th quarter
Bear Stearns takes a $1.2 billion earnings hit, as HSBC loses $3.4 billion in latest round of write downs. Billions of dollars in mortgage losses reported during the third quarter could be a prelude to even bigger losses in the fourth quarter, as two more financial institutions warned of substantial write downs on Wednesday. (Thu, 15 Nov 2007 09:14:22 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 15 Nov 2007 09:17:00 GMT)
Nevada dilutes mortgage assistance
Republicans on a legislative funding panel opposed a $450,000 plan for a toll-free phone number and more counselors to help consumers caught up in the mortgage crisis, resulting in a stopgap $100,000 plan. (Thu, 15 Nov 2007 10:19:09 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, 15 Nov 2007 10:23:06 GMT)
Hawaii family still needs home after fire
Less than two weeks ago, a tight-knit Chuukese family from the Federated States of Micronesia was envisioning refinancing their mortgage and making improvements to their Salt Lake home. (Thu, 15 Nov 2007 11:51:29 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, 15 Nov 2007 12:07:41 GMT)
Bankrate: Mortgage Rates Inch Lower
Mortgage rates declined slightly this week, with the average conforming 30-year fixed mortgage rate now 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, 15 Nov 2007 12:30:00 GMT)
Barclays Writes Down $2.7 Billion on Mortgage Losses (Update4)
Nov. 15 (Bloomberg) -- Barclays Plc, the U.K.'s third-biggest bank, wrote down about 1.3 billion pounds ($2.7 billion) of credit-related securities tied to the U.S. subprime-mortgage market collapse. (Thu, 15 Nov 2007 13:08:24 GMT)
US high-risk mortgage crisis effects will linger: OECD
Budapest, Nov 15 (DPA) The global economy will continue to suffer from the effects of the US sub-prime mortgage market crisis, the head of Organization for Economic Cooperation and Development (OECD) said Thursday. (Thu, 15 Nov 2007 13:11:33 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, 15 Nov 2007 13:56:42 GMT)
Joan Carty and John Eller Appointed to Board of the Federal Home Loan Bank of Boston
Joan Carty, of Bridgeport, Connecticut, and John T. Eller, of Newbury, New Hampshire, were recently appointed to the board of directors of the Federal Home Loan Bank of Boston . Their terms begin on January 1, 2008, and run through December 31, 2010. (Thu, 15 Nov 2007 14:29:00 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? (Thu, 15 Nov 2007 14:38:53 GMT)
Nev.: Lawmakers Change Mortgage Plan
Republicans on a legislative funding panel opposed a $450,000 plan for an 800 phone line and more counselors to help consumers caught up in Nevada's mortgage lending crisis, resulting in a stopgap $100,000 plan Wednesday. (Thu, 15 Nov 2007 14:55:45 GMT)
Liberty Reverse Mortgage Releases Proprietary Jumbo Loan
Liberty Reverse Mortgage announced today the release of its first proprietary Reverse Mortgage product. The Liberty Preferred loan gives Reverse Mortgage originators the opportunity to provide their clients a jumbo alternative that can be used for home purchase and higher home values. (Thu, 15 Nov 2007 15:40:00 GMT)
ICICI Bank cuts interest rate on home loans
After State Bank of India, country's largest private sector lender ICICI Bank has cut floating home loan rates by 0.5 per cent to 11 per cent. The new rates, implementable with immediate effect, will be applicable on new loans till October 31, an ICICI spokesperson said in Mumbai on Thursday. (Thu, 15 Nov 2007 15:54:59 GMT)
Federal Home Loan Bank of Atlanta Announces Third Quarter 2007 Operating Highlights and Fourth Quarter Dividend Guidance
Federal Home Loan Bank of Atlanta today announced financial results for the quarter ended Sept. 30, 2007, as well as dividend guidance for the fourth quarter of 2007. (Thu, 15 Nov 2007 16:00:00 GMT)
Mixed signals keep mortgage rates flat
Mortgage rates were flat following mixed economic signals, Freddie Mac reported Thursday. (Thu, 15 Nov 2007 16:01:30 GMT)
U.S. mortgage rates hold below year-ago levels
CHICAGO (MarketWatch) -- Mortgage rates were mostly flat in the week ending Thursday, as mixed economic news kept rate movements in check, Freddie Mac said. (Thu, 15 Nov 2007 16:17:59 GMT)
Who's to blame for the U.S. mortgage mess?
You know who the victims are. We name some of the villains in a credit crunch built on irresponsible subprime lending in the United States. It's not over, folks. There's plenty of pain left to come for homeowners and investors already battered and bruised by the subprime-mortgage meltdown. (Thu, 15 Nov 2007 16:46:56 GMT)
Fannie Mae, FHA Outline Mortgage Crunch Steps: Fannie Mae, FHA Say They're Taking Steps but Not at Speed They'D Like
Nov. 14--LAS VEGAS -- The top officers at two of the country's mortgage giants said Tuesday that they are taking steps to deal with the mortgage crunch and rising foreclosure rates. (Thu, 15 Nov 2007 16:57:20 GMT)
U.S. mortgage rates show little change
U.S. mortgage rates, buffeted by mixed economic signals, were basically flat this week, the Freddie Mac market survey said Thursday. (Thu, 15 Nov 2007 17:23:33 GMT)
Countrywide Employee Fired Over Loan Documents Flap
A woman who works for Countrywide Home Loans is out of a job following the discovery of sensitive loan documents outside of a West Sacramento post office. (Thu, 15 Nov 2007 17:33:05 GMT)
Barclays Writes Down $2.7 Billion on Mortgage Losses (Update7)
Nov. 15 (Bloomberg) -- Barclays Plc, the U.K.'s third-biggest bank, wrote down about 1.3 billion pounds ($2.7 billion) of credit-related securities tied to the U.S. subprime-mortgage market collapse. (Thu, 15 Nov 2007 18:34:42 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, 15 Nov 2007 19:37:05 GMT)
PMI Canada to enter Canada's mortgage-backed securities market
PMI Mortgage Insurance Co. Canada has received approval from Canada Mortgage and Housing Corp. to participate in Canada’s mortgage-backed securities market. (Thu, 15 Nov 2007 20:46:54 GMT)
Federal Home Loan Bank of Boston Announces Board Election Results
The Federal Home Loan Bank of Boston is pleased to announce that A. James Lavoie, trustee, Middlesex Savings Bank, Natick, Massachusetts, was elected to serve on the Bank's board of directors. (Thu, 15 Nov 2007 21:15:00 GMT)
Federal Home Loan Bank of Boston Declares Dividend
The board of directors of the Federal Home Loan Bank of Boston declared a fourth quarter dividend rate with an equivalent annual yield of 6.5 percent. The dividend, based on average stock outstanding for the third quarter, will be paid on December 4, 2007. (Thu, 15 Nov 2007 21:16:00 GMT)
30-year mortgage rates hold steady
Rates on 30-year mortgages were unchanged this week after posting three consecutive declines. (Thu, 15 Nov 2007 22:09:07 GMT)
30-Year Mortgage Rates Hold Steady
Rates on 30-year mortgages were unchanged this week after posting three consecutive declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages remained at 6.24 percent, the same as last week. (Thu, 15 Nov 2007 22:09:13 GMT)
Wells Fargo CEO: More mortgage woe to come
The bank's president, John Stumpf, says mortgage and housing markets will continue to fall; sees parallel to the Great Depression. (Thu, 15 Nov 2007 22:16:10 GMT)
Mortgage Lender Offers Financial Help to Some of the City’s Homeowners
The national mortgage lender Countywide Financial has agreed to renegotiate loans for one-thousand at-risk borrowers in the metropolitan New York area. REPORTER: The move was prompted by state senat.... (Thu, 15 Nov 2007 22:32:20 GMT)
(AFX UK Focus) 2007-11-15 22:09 GMT: House on verge of passing bill setting new standards for mortgage originators
WASHINGTON (Thomson Financial) - The House today was headed toward approving legislation that would require mortgage originators to do more to protect borrowers, and make mortgage securitizers liable for damages if they securitize mortgages that do not conform to these rules. (Thu, 15 Nov 2007 22:36:51 GMT)
NYers Seek Fixes in Mortgage Mess
Sen. Charles Schumer and the Rev. Al Sharpton had different answers Thursday for how to make it easier for homeowners at risk from the mortgage crunch. (Thu, 15 Nov 2007 23:03:36 GMT)
House backs home mortgage market reforms
The House of Representatives voted on Thursday to regulate mortgage officers for the first time and take other steps to try to avert another housing finance crisis like the one now shaking world markets. (Thu, 15 Nov 2007 23:14:34 GMT)
House gets tough on mortgage lenders
With home foreclosures skyrocketing, the House on Thursday voted to crack down on mortgage lenders by enacting federal licensing, making them responsible for knowing if borrowers can repay loans and fining them for steering people to risky subprime loans when other funding is available. (Thu, 15 Nov 2007 23:25:18 GMT)
House passes bill on mortgage lenders
With home foreclosures skyrocketing, the House on Thursday voted to crack down on mortgage lenders by forcing them to get licenses, making them responsible for discovering whether borrowers can really repay and fining them for steering people toward risky subprime loans. The measures are designed to keep more people from sinking into the current mortgage crisis, where prospective home owners ... (Thu, 15 Nov 2007 23:46:43 GMT)
How they voted: Mortgage lender bill
The 291-127 roll call Thursday by which the House passed a bill that would make mortgage lenders responsible for discovering whether borrowers can repay and fine them for steering people toward risky subprime loans. (Fri, 16 Nov 2007 00:13:00 GMT)
Protections for home-loan borrowers OKd
The House approves restrictions on lenders that the president and the mortgage industry oppose. The measure's future in the Senate is unclear. Seeking to prevent a repeat of the current mortgage crisis, the House today approved a sweeping set of protections for home-loan borrowers. (Fri, 16 Nov 2007 00:50:00 GMT)
House supports broad mortgage meltdown response
The House of Representatives voted on Thursday to regulate mortgage officers for the first time and take other steps to try to avert another housing finance crisis like the one now shaking world markets. (Fri, 16 Nov 2007 00:53:11 GMT)
House Mortgage Bill Faces Tougher Future
A House bill aimed at protecting borrowers from abusive home loans faces a tougher future in the Senate amid opposition by the mortgage industry and criticism from the White House. (Fri, 16 Nov 2007 01:04:24 GMT)
House approves bill to strengthen rules on mortgage lenders
WASHINGTON (AP) -- With home foreclosures skyrocketing, the House on Thursday voted to crack down on mortgage lenders by forcing them to get licenses, making them responsible for discovering whether borrowers can really repay and fining them for steering people toward risky subprime loans. (Fri, 16 Nov 2007 01:17:31 GMT)
House clears mortgage industry reform bill
WASHINGTON (MarketWatch) -- In a response to the subprime lending meltdown, House lawmakers approved a sweeping bill on Thursday that would reform a host of mortgage industry practices. (Fri, 16 Nov 2007 01:32:56 GMT)
Dwindling mortgage options leaves Bay Area home sales mired in misery
Bay Area home sales limped along at a decades-low pace in October, as buyers continued to find few mortgage options. A total of 5,486 new and existing houses and condos changed hands last month, down 35.7 percent from October 2006 and the lowest sales count... (Fri, 16 Nov 2007 02:23:26 GMT)
House Votes to Rein in Certain Mortgage Lending Practices
The House voted to crack down on mortgage lenders by enacting federal licensing and to fine them for steering people to subprime loans when other options are available. (Fri, 16 Nov 2007 04:21:25 GMT)
Mortgage bankers go back to basics
Mortgage bankers are eagerly going back to basics before Congress makes them. ... (Fri, 16 Nov 2007 05:19:23 GMT)
Va. Panel To Tackle Mortgage Defaults
RICHMOND, Nov. 15 -- Gov. Timothy M. Kaine said Thursday that he is forming a task force to fight an unprecedented number of home foreclosures brought on by a boom of risky mortgage loans in Virginia. (Fri, 16 Nov 2007 05:27:05 GMT)
LendingTree.com Examines the Right Time to Refinance an ARM
LendingTree.com offers quick tips to help you decide if now is the right time to refinance. (Fri, 16 Nov 2007 07:01:00 GMT)
House Passes Bill Revamping Mortgage Lending
A bill aimed at protecting borrowers from abusive home loans passed the House yesterday evening but faces a tougher future in the Senate because of opposition by the mortgage industry and criticism from the Bush administration. (Fri, 16 Nov 2007 07:55:05 GMT)
Dwindling mortgage options leaves Bay Area home sales mired in misery
Bay Area home sales limped along at a decades-low pace in October, as buyers continued to find few mortgage options. A total of 5,486 new and existing houses and condos changed hands last month, down 35.7 percent from October 2006 and the lowest sales count... (Fri, 16 Nov 2007 08:23:09 GMT)
House OKs mortgage protections
Bill seeks to curb abuses of lenders The House approved legislation yesterday to strengthen consumer protections for mortgage borrowers as Congress seeks to curb the lending abuses that contributed to the subprime-mortgage crisis. (Fri, 16 Nov 2007 08:27:40 GMT)
LendingTree.com Examines the Right Time to Refinance an ARM
LendingTree.com offers quick tips to help you decide if now is the right time to refinance. (PRWeb Nov 16, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/RW1wdC1JbnNlLVNpbmctSG9yci1UaGlyLVplcm8= (Fri, 16 Nov 2007 08:28:59 GMT)
House OKs mortgage protections
Bill seeks to curb abuses of lenders The House approved legislation yesterday to strengthen consumer protections for mortgage borrowers as Congress seeks to curb the lending abuses that contributed to the subprime-mortgage crisis. (Fri, 16 Nov 2007 08:36:31 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, 16 Nov 2007 09:16:08 GMT)
House OKs bill to get tough on mortgage lenders
Washington- With home foreclosures skyrocketing, the House on Thursday voted to crack down on mortgage lenders by forcing them to get licenses, making them responsible for discovering whether borrowers can really repay, and fining lenders for steering people toward risky subprime loans. (Fri, 16 Nov 2007 09:40:09 GMT)
House clears mortgage industry reform bill
House clears mortgage industry reform bill (Fri, 16 Nov 2007 10:09:07 GMT)
30-year mortgage rates unchanged
WASHINGTON -- Rates on 30-year mortgages were unchanged this week after posting three consecutive declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages remained at 6. (Fri, 16 Nov 2007 11:13:47 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, 16 Nov 2007 11:13:48 GMT)
New loan program for native Hawaiians
Qualifying native Hawaiian consumers and businesses now have access to a unique fixed, low-interest loan that can be used for home improvement, education or business expansion. (Fri, 16 Nov 2007 11:48:41 GMT)
OHA unveils revamped loan programs for Native Hawaiians
Native Hawaiians will be able to receive loans for home improvement and educational uses, as well as business opportunities, under a restructured Native Hawaiian Revolving Loan Fund that took the Office of Hawaiian Affairs more than a year to iron out. (Fri, 16 Nov 2007 11:53:23 GMT)
Hungarian mortgage bank FHB's Q1-Q3 net falls 26% y/y to HUF 4.1 bln onrestructuring costs
BUDAPEST. NOVEMBER 16. INTERFAX CENTRAL EUROPE - Hungarian listed mortgage bank FHB posted net income of HUF 4.1 bln in the first nine months of 2007, down 25.9% year-on-year (y/y), below both analyst expectations and its own plans, but in line with the profit warning posted by the bank earlier this week. (Fri, 16 Nov 2007 12:43:08 GMT)
Treasury Chief Paulson Says Dollar Will Strengthen Again, but Mortgage Situation Will Worsen
CAPE TOWN, South Africa (AP) - U.S. Treasury Secretary Henry Paulson expects more of the losses in the U.S. mortgage industry that have already damaged the dollar, but predicted a long-term recovery for the battered currency. (Fri, 16 Nov 2007 13:09:08 GMT)
House clears mortgage industry reform bill
WASHINGTON (MarketWatch) -- In a response to the subprime lending meltdown, House lawmakers approved a sweeping bill on Thursday that would reform a host of mortgage industry practices. See full story. (Fri, 16 Nov 2007 13:33:06 GMT)
Mexican Pension Funds Tripled Mortgage Bond Holdings in October
Nov. 16 (Bloomberg) -- Mexican government-regulated pension funds tripled holdings of mortgage-backed bonds in October. (Fri, 16 Nov 2007 16:00:13 GMT)
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