Mortgage News Nov 2007

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Stocks fall ahead of Thanksgiving amid worries about the mortgage market, record-high oil
NEW YORK (AP) - Wall Street resumed its slide yesterday as unease about the wilting mortgage market and the broader economy triggered selling ahead of the unofficial start of the holiday shopping season. (Sat, 24 Nov 2007 17:06:08 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? (Sat, 24 Nov 2007 19:38:21 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. (Sat, 24 Nov 2007 19:38:32 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? (Sat, 24 Nov 2007 19:38:42 GMT)

Have we seen worse of mortgage crisis?
When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get. His payment was scheduled to surge by an extra $1,500 in December. (Sun, 25 Nov 2007 03:02:04 GMT)

Mortgage bankers go back to basics
Mortgage bankers are eagerly going back to basics before Congress makes them. At the annual convention of the Mortgage Bankers Association, or MBA, the most oft-spoken phrase was "back to basics." (Sun, 25 Nov 2007 05:02:14 GMT)

Analysts fear mortgage failures could topple economy
When Domenico Colombo saw his monthly mortgage payment was about to balloon by 30 percent, he knew how bad it could get. His payment was scheduled to surge by an extra $1,500 in December. (Sun, 25 Nov 2007 06:07:56 GMT)

Mortgage rates fall to six-month low
Mortgage rates sank last week, with rates on 30-year mortgages dropping to a six-month low, a spot of welcome news to would-be home buyers. (Sun, 25 Nov 2007 08:34:22 GMT)

Is it worth the risk Town faces question as it evaluates investing in mortgage-backed fund
Town officials are debating whether to put part of an anticipated $150 million in tax revenues and bond sale receipts in a state money market fund that is reliant on risky investments such as subprime mortgage pools. (Sun, 25 Nov 2007 10:06:17 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Sun, 25 Nov 2007 10:08:32 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 25 Nov 2007 10:08:52 GMT)

Consumer loan and savings rates
Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. (Sun, 25 Nov 2007 10:09:10 GMT)

Stocks fall ahead of Thanksgiving amid worries about the mortgage market, record-high oil
NEW YORK (AP) - Wall Street resumed its slide yesterday as unease about the wilting mortgage market and the broader economy triggered selling ahead of the unofficial start of the holiday shopping season. (Sun, 25 Nov 2007 10:18:26 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. (Sun, 25 Nov 2007 10:23:21 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Sun, 25 Nov 2007 10:40:03 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Sun, 25 Nov 2007 10:58:34 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? (Sun, 25 Nov 2007 11:08:11 GMT)

Think You're Paying Too Much on Your Car Loan?
(ARA) - You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. (Sun, 25 Nov 2007 11:51:38 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 25 Nov 2007 12:36:35 GMT)

The mortgage crisis is about to deepen
NEW YORK — When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get. (Sun, 25 Nov 2007 12:51:14 GMT)

Mortgage failure wave hints at nightmare
A sign stands outside a home for sale in the Denver market. Some 2 million homeowners across the nation hold $600 billion of subprime adjustable-rate mortgage loans that are due to reset at higher amounts during the next eight months. (Sun, 25 Nov 2007 12:58:10 GMT)

Mortgage woes, advice? Tell us
Mortgage woes, advice? Tell us Copyright © 2007 The Enquirer. All rights reserved. Users of this site agree to the Terms of Service and Privacy Policy /Your California Privacy Rights (Terms updated March 2007) (Sun, 25 Nov 2007 13:12:40 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. (Sun, 25 Nov 2007 13:52:41 GMT)

What are mortgage points?
When purchasing a home and obtaining a mortgage, there typically are closing costs. These may consist of a credit report fee, an appraisal fee, title insurance, escrow fees, document preparation, a processing fee and so on. (Sun, 25 Nov 2007 17:34:52 GMT)

S&P Announces Rating Actions on Five Major Mortgage Insurers
Standard & Poor's Ratings Services announced a number of rating actions, covering five mortgage guarantee insurers: Radian Group, Mortgage Guaranty Insurance PMI Group, Triad Guaranty and Old Repub (Sun, 25 Nov 2007 17:35:09 GMT)

Jumbo loan setback
The recent sub-prime meltdown and decline in values of high-end homes have spooked investors who purchase mortgage secured jumbo loans (loans above $417,000). As a result, lenders have recently had to raise rates on their jumbo loan products. (Sun, 25 Nov 2007 17:36:04 GMT)

New refinancing scheme offers relief
Jo Anne Vail is taking obvious pleasure in setting light to her contract with Countrywide, the biggest mortgage lender in the US. (Sun, 25 Nov 2007 22:10:10 GMT)

New refinancing scheme offers relief
Jo Anne Vail is taking obvious pleasure in setting light to her contract with Countrywide, the biggest mortgage lender in the US. The Bronx mother of seven was facing homelessness until she got the chance to refinance under a scheme devised by Jeff Klein, senator for New York State, and Countrywide. (Sun, 25 Nov 2007 22:24:22 GMT)

Cairns Lockie Mortgage Commentary 23 Nov 07
Welcome to the twenty-first fortnightly Cairns Lockie Mortgage Commentary for 2007. We aim to keep you informed on developments at Cairns Lockie, Home Loans and the mortgage market in general. (Sun, 25 Nov 2007 22:44:14 GMT)

Offset account on home loan
I'm often advised to consider an offset account on my home loan as it helps reduce your debt, but I don't understand how it works. Could you fill me in? (Sun, 25 Nov 2007 23:57:00 GMT)

Mortgage rises burden indebted consumers
Personal insolvencies could start rising again next year as higher mortgage payments cause strain on overindebted consumers, according to a new report. (Mon, 26 Nov 2007 01:55:25 GMT)

How NovaStar held clues to mortgage mess
SAN DIEGO (MarketWatch) -- Now that we know what we should have been looking for, it is easy to spot signs that the mortgage morass was occurring long before it actually happened. (Mon, 26 Nov 2007 02:18:43 GMT)

Program offers grants to those behind on mortgage payments
A new program offers grants of up to $5,000 to help people bring their mortgage current. (Mon, 26 Nov 2007 04:06:26 GMT)

Toddler Sparks Fire, Damages Home
A toddler is blamed for sparking a fire that gutted part of a home in Altamonte Springs. (Mon, 26 Nov 2007 04:32:26 GMT)

Australia's RAMS says has further credit approvals
SYDNEY, Nov 26 - Australian mortgage lender RAMS Home Loans Group Ltd said on Monday it has received further credit approvals as it tries to refinance its debt following the U.S. subprime mortgage crisis. (Mon, 26 Nov 2007 04:46:20 GMT)

Australia's RAMS says has further credit approvals
SYDNEY, Nov 26 - Australian mortgage lender RAMS Home Loans Group Ltd said on Monday it has received further credit approvals as it tries to refinance its debt following the U.S. subprime mortgage crisis. (Mon, 26 Nov 2007 04:46:20 GMT)

Australia's RAMS says has further credit approvals
SYDNEY, Nov 26 (Reuters) - Australian mortgage lender RAMS Home Loans Group Ltd RHG.AX said on Monday it has received further credit approvals as it tries to refinance its debt following the U.S. subprime mortgage crisis. (Mon, 26 Nov 2007 04:47:08 GMT)

Rams has credit approvals of $4.25b
Troubled non-bank lender Rams Home Loans says it has credit approvals totalling $4.25 billion of the $5.5 billion of its loan book funded from US XCP markets. (Mon, 26 Nov 2007 04:50:12 GMT)

Upscale residential offerings escaping subprime mortgage crisis
The phrase "mortgage meltdown 2007" may reflect a true crisis situation with mortgage foreclosures rising and new home sales to entry-level home buyers declining in many states. But the Texas residential real estate market is affected differently. (Mon, 26 Nov 2007 05:24:16 GMT)

Australia's RAMS Home Loans shareholders approve Westpac rescue package
SYDNEY (Thomson Financial) - Troubled Australian home loan company RAMS Home Loans Group ( Nachrichten ) Ltd said Monday its shareholders have voted in favor of a rescue plan being offered by Westpac Banking Corp ( Nachrichten ) Ltd. (Mon, 26 Nov 2007 05:50:00 GMT)

(AFX UK Focus) 2007-11-26 05:41 GMT: Australia's RAMS Home Loans shareholders approve Westpac rescue package
SYDNEY (Thomson Financial) - Troubled Australian home loan company RAMS Home Loans Group Ltd said Monday its shareholders have voted in favor of a rescue plan being offered by Westpac Banking Corp Ltd. (Mon, 26 Nov 2007 06:06:00 GMT)

Suit Accuses Univ. of Backing Illegal Loan
A real estate developer accused Harvard of backing a loan with 42 percent interest—twice the legal limit—in a lawsuit filed last week. (Mon, 26 Nov 2007 07:06:53 GMT)

New wave of mortgage failures could create a nightmare economic scenario
When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get. (Mon, 26 Nov 2007 07:50:43 GMT)

Barclaycard to launch carbon-conscious card and loan facility
Barclaycard is to launch a linked credit card and loan product aimed at homeowners that want to reduce household carbon emissions and make their ... (Mon, 26 Nov 2007 09:12:36 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, 26 Nov 2007 09:16:15 GMT)

Mortgage, credit woes may weaken holiday sales
The mortgage market crisis and credit woes are dragging down holiday sales projections. (Mon, 26 Nov 2007 09:16:28 GMT)

Securing money market cash, amid subprime mortgage mess
The subprime mortgage mess is bleeding into money-market funds, but consumers with cash tied up in them may not have much to worry about at this point. (Mon, 26 Nov 2007 09:40:52 GMT)

FSA refers seven mortgage firms for enforcement
The FSA has referred seven firms to enforcement after a series of reviews found that several mortgage brokers continue to operate "well below standard". (Mon, 26 Nov 2007 11:15:55 GMT)

How Home Equity Can Help You Slash Debt
(ARA) - Escalating personal debt is one of the biggest concerns Americans face when it comes to their financial welfare, studies show. Getting out of debt almost seems to be replacing home ownership as the great American dream. (Mon, 26 Nov 2007 11:37:42 GMT)

FSA will work with industry to improve mortgage advice - and clamp down on brokers unwilling to change
A series of reviews by the Financial Services Authority (FSA) has found that in spite of some improvements, several mortgage brokers continue to operate well below standard, with senior management failing to adequately monitor and control their firm's performance to ensure that they are treating their customers fairly. (Mon, 26 Nov 2007 11:48:38 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, 26 Nov 2007 11:51:46 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. (Mon, 26 Nov 2007 12:06:36 GMT)

E*Trade sale may hinge on mortgage portfolio: report
Prospective buyers of online brokerage E*Trade Financial Corp are haggling over the value of its weakening mortgage portfolio, the Wall Street Journal reported Monday in its online edition, citing sources familiar with the matter. (Mon, 26 Nov 2007 12:58:56 GMT)

FSA threatens mortgage brokers
The Financial Services Authority threatens strong action against dishonest mortgage brokers. (Mon, 26 Nov 2007 14:15:43 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? (Mon, 26 Nov 2007 14:24:46 GMT)

Sub-prime mortgage crisis likely to worsen
Sub-prime mortgage crisis likely to worsen There is disturbing news about the sub-prime mortgage crisis. The Wall Street Journal reported this weekend that the mortgage meltdown will likely get much worse before it gets better. That could include southeastern North Carolina as well. The number of US homes in foreclosure is expected to keep soaring. Estimates predict in the ... (Mon, 26 Nov 2007 14:30:23 GMT)

Anworth Mortgage to Issue New Stock
Real estate investment trust Anworth Mortgage Asset Corp. said Monday it plans to make a public offering of 9 million shares of common stock. (Mon, 26 Nov 2007 15:07:07 GMT)

Auto Loan Refinance = Lower Payments
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Mon, 26 Nov 2007 15:37:41 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, 26 Nov 2007 15:39:12 GMT)

MHSAA Football Championship Scores
How to get the best mileage out of your car. More Doing your homework before refinancing pays. Check out this site where you can get articles and check mortgage calculators to help you find the right loan and then complete our simple, secure online request and compare up to 4 offers. (Mon, 26 Nov 2007 15:55:11 GMT)

Citigroup Plans Cost Cuts After Mortgage Losses, Prince Ouster
Nov. 26 (Bloomberg) -- Citigroup Inc., the largest U.S. bank, is reviewing ways to cut costs as it seeks a new chief executive officer and grapples with mortgage writedowns that may lead to the first quarterly loss since at least 1998. (Mon, 26 Nov 2007 16:12:31 GMT)

Citizens Home Loan Accepts PRBC Reports Through Credit Plus, Inc.
Citizens Home Loan announces that it will authorize potential borrowers with little or no credit histories to qualify for mortgages with PRBC Reports through Credit Plus, Inc. (Mon, 26 Nov 2007 16:25:00 GMT)

Sector Snap: Mortgage Banks Fall
Shares of banks that have large mortgage-origination operations continued to take a beating in midday trading Monday amid continued worries in the declining mortgage and housing markets. (Mon, 26 Nov 2007 17:24:01 GMT)

Chase Adopts Loan Benefits to Help Expanding Families
NEW YORK----Chase today introduced New Additions, a discounted home-equity loan program to help families pay the often steep expenses of adopting a child. (Mon, 26 Nov 2007 18:00:00 GMT)

Mortgage repayments: Road to repossession has lots of exits
Mortgage repayment problems can be overcome, reports Myra Butterworth. (Mon, 26 Nov 2007 18:18:57 GMT)

Housing woes have domino effect
If you haven't yet felt the impact of the nation's credit crisis, just wait. Chances are, you won't have to wait long. So far, the turmoil may feel a bit remote for average people: Failed mortgage lenders. Gargantuan write-downs by banks. Foreclosures for people who couldn't really afford the mortgages they got. Are the rest of us in danger? Quite likely, yes. (Mon, 26 Nov 2007 19:47:08 GMT)

CFieldstone Mortgage Unit Files Ch 11
A housing lender acquired nine months ago by Credit-Based Asset Servicing and Securitization LLC has sought bankruptcy protection, highlighting the growing toll of the subprime-mortgage crisis. (Mon, 26 Nov 2007 19:49:56 GMT)

Travelers Returning Home Delayed By Rain
Rain and fog in the East have been delaying some passengers Monday as they head home following a Thanksgiving weekend of turkey, football and holiday shopping. (Mon, 26 Nov 2007 19:54:27 GMT)

Fieldstone Mortgage files Ch. 11 bankruptcy
Citing rising mortgage delinquencies and tightening credit markets, Fieldstone Mortgage Co. has filed for Chapter 11 bankruptcy protection. (MTG) (RDN) (Mon, 26 Nov 2007 20:11:26 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Mon, 26 Nov 2007 20:13:34 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, 26 Nov 2007 20:13:54 GMT)

New round of mortgage defaults could cause economic meltdown
NEW YORK -- When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get. (Mon, 26 Nov 2007 20:22:20 GMT)

Chase Caters to Adoptive Parents
JPMorgan Chase & Co.'s Chase Bank said Monday it is making it cheaper and easier for couples adopting a child to take out a home equity loan. (Mon, 26 Nov 2007 20:52:31 GMT)

Fitch Affirms $1.23B & Downgrades $78.2MM from 5 Soundview Home Equity Subprime Transactions
NEW YORK----Fitch Ratings has taken the following rating actions on Soundview Home Equity Loan Trust asset-backed certificates. Affirmations total $1.23 billion and downgrades total $78.2 million. (Mon, 26 Nov 2007 22:06:00 GMT)

FSA hits at mortgage brokers
An "unacceptable" number of mortgage brokers are "unwilling to change", the industry watchdog said on Monday, in a stinging criticism of poor lending practices. (Mon, 26 Nov 2007 22:35:18 GMT)

Gov. Schwarzenegger Works With Lenders to Cut Home Loan Defaults
Los Angeles -- California Gov. Arnold Schwarzenegger has cracked a deal with four of the state's largest mortgage lenders to reduce the home loan default rate caused by the subprime mortgage market collapse, The Financial Times reports. (Tue, 27 Nov 2007 00:07:35 GMT)

Schumer: Loans to Countrywide need a look
Senator says troubled mortgage company is default risk for billions in loans from Federal Home Loan Bank. (Tue, 27 Nov 2007 00:31:00 GMT)

Japan Expands Loan Guarantees for Home Builders (Update2)
Nov. 27 (Bloomberg) -- Japan has expanded loan guarantees for small and midsize companies in the construction and related industries to counter a plunge in housing starts that threatens to slow economic growth. (Tue, 27 Nov 2007 03:39:50 GMT)

New wave of US mortgage failures could create a nightmare
NEW YORK - WHEN Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 per cent, he had a clear picture of how bad it could get. (Tue, 27 Nov 2007 05:21:56 GMT)

How home loan boom went bust
Derek Brown knew Detroit had a problem when a grocery clerk he knew quit his job to become a mortgage loan officer. (Tue, 27 Nov 2007 06:07:58 GMT)

Easy money, risky loans drive area home losses
A Detroit News investigation reveals that a cash-drunk mortgage industry with virtually no government oversight has turned Metro Detroit into a foreclosure factory, where foreclosure notices were served on 260 homes a day in August -- the equivalent of wiping out two subdivisions every 24 hours. (Tue, 27 Nov 2007 06:08:19 GMT)

Schumer Urges Scrutiny of Federal Home Loan Bank's Advances to Troubled Lender Countrywide
WASHINGTON (AP) - Sen. Charles Schumer on Monday urged a federal regulator to examine whether loans to troubled Countrywide Financial Corp. put at risk a network of regional government-sponsored lenders. (Tue, 27 Nov 2007 07:08:48 GMT)

Mortgage foreslosures cloud shopping
The holiday shopping season, widely expected to be muted, started with a blast over the weekend, with a 7 percent increase in purchases over last year. But with much of that increase attributed to more shoppers at the discount retailers, and with the cloud of mortgage foreclosures still hanging over the shopping season, will the sellers of more expensive items such as furniture and appliances do ... (Tue, 27 Nov 2007 08:04:19 GMT)

Mortgage crisis expected to cost Bay Area $5.4 billion next year
The subprime mortgage fiasco stands to cost the Bay Area economy more than $5.4 billion next year, according to the latest report intending to put a dollar figure on the rising wave of real estate foreclosures. The lending crisis will cost the national... (Tue, 27 Nov 2007 08:21:14 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? (Tue, 27 Nov 2007 09:15:55 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, 27 Nov 2007 09:16:15 GMT)

HOME GROANS
Sen. Chuck Schumer urged the Federal Home Loan Bank of Atlanta yesterday to curb its lending to mortgage companies like Countrywide Financial, which is threatening the solvency of the FHLB. In a letter sent yesterday to Ronald Rosenfeld, chairman... (Tue, 27 Nov 2007 10:28:01 GMT)

Jackson Sr. calls for reform in mortgage forclosure epidemic
The Rev. Jesse Jackson on Monday demanded Chicago City Council hearings and plans a Dec. 10 march on LaSalle Street to shine the light on a mortgage foreclosure epidemic that he warned could trigger a "sustained depression" as early as next year. (Tue, 27 Nov 2007 10:40:27 GMT)

Mayors warn worst of mortgage crisis ahead
An escalating mortgage crisis will push another 1.4 million U.S. homes into foreclosure and drive nationwide property values lower by 7 percent next year, according to a report released on Tuesday by a group representing city mayors. (Tue, 27 Nov 2007 11:05:55 GMT)

Luminent Mortgage Gets Default Notice
San Francisco-based mortgage investor Luminent Mortgage Capital Inc. said Tuesday it received a notice of default on its $90 million convertible senior notes, related to the company's delay in filing its quarterly report. (Tue, 27 Nov 2007 12:17:12 GMT)

(AFX UK Focus) 2007-11-27 12:13 GMT: Spanish covered bond holders to benefit from mortgage law amendments - Moody's
MUMBAI (Thomson Financial) - Moody's Investors Service said approved amendments to Spain's Mortgage Market Law, which are due to come into force shortly, will strengthen and clarify the credit position of holders of Spanish mortgage covered bonds (known as 'Cedulas Hipotecarias' or CHs) as well as the timely payment of these instruments following an issuer insolvency. (Tue, 27 Nov 2007 12:35:49 GMT)

Mortgage switching activity increases
The latest in the series of the IBF/PwC Mortgage Market Profile shows that new lending continues to moderate to more sustainable levels in a mortgage market that is still growing in overall terms. (Tue, 27 Nov 2007 12:46:18 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. (Tue, 27 Nov 2007 14:25:02 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, 27 Nov 2007 15:08:34 GMT)

Regulator says 2008 loan limit to stay same for Fannie, Freddie
WASHINGTON (MarketWatch) -- Fannie Mae and Freddie Mac will have to operate under the same federally mandated loan limit in 2008 as the mortgage giants did this year, the companies' regulator said Tuesday. (Tue, 27 Nov 2007 15:18:26 GMT)

Mortgage meltdown a global nightmare
Higher rates leave many unable to make payments When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get. (Tue, 27 Nov 2007 15:44:01 GMT)

Sector Snap: Mortgage Lenders
Shares of several mortgage lenders fell Tuesday after a report showed home prices suffered their steepest decline in more than two decades last quarter, but battered Countrywide Financial Corp.'s stock rose on optimistic news from the company. (Tue, 27 Nov 2007 17:07:54 GMT)

U.S. Treasurer to Visit Atlanta to Offer Mortgage Financing Advice
The United States Treasurer Anna Escobedo Cabral will be in Atlanta, Ga. Friday, Nov. 30, at The Commerce Club to discuss ways Atlanta homeowners can find help if they are struggling to make their mortgage payments. (Tue, 27 Nov 2007 17:17:14 GMT)

Solano County feels pinch of growing mortgage crisis
Roiesha Scott, 30, of Suisun City believes it was her fault. "Now I wish I had asked more questions and done a lot more market research," she said. "As soon as we moved into the house, the values were going down. I feel like I put my family in a predicament." (Tue, 27 Nov 2007 17:44:12 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, 27 Nov 2007 17:52:52 GMT)

Report: state will dodge mortgage crisis
MILWAUKEE (AP) -- Although national economic growth will be slashed by about $166 billion because of mortgage problems, none of that decline will come from Wisconsin, according to a report released today by the U.S. Conference of Mayors. The report prepared for the group by Global Insight Inc. said the gross metropolitan product of every city in the state will increase next year by just as much ... (Tue, 27 Nov 2007 18:02:45 GMT)

DeNucci: State needs more staff, resources for mortgage oversight
Massachusetts Auditor Joe DeNucci says the state needs more resources to strengthen oversight of mortgage lenders amid spiking home foreclosures. An audit found the state... (Tue, 27 Nov 2007 18:13:59 GMT)

Dyer must refinance or face foreclosure
Successful refinancing before Dec. 31 will prevent foreclosure on the Dyer Mountain Resort property near Westwood, according to Jeff Makoff. (Tue, 27 Nov 2007 18:19:36 GMT)

Pulte shares fall after amending loan agreements
Pulte Homes Inc., the second-largest U.S. homebuilder, fell in New York trading after amending its loan agreements and reiterating its fourth-quarter earnings forecast, Bloomberg News reported today. (Tue, 27 Nov 2007 19:40:54 GMT)

Mortgage crisis expected to cost Bay Area $5.4 billion next year
The subprime mortgage fiasco stands to cost the Bay Area economy more than $5.4 billion next year, according to the latest report intending to put a dollar figure on the rising wave of real estate foreclosures. The lending crisis will cost the national... (Tue, 27 Nov 2007 19:53:15 GMT)

Capstead Mortgage Corporation Announces Exercise of Underwriters' Over-Allotment Option Related to Its Recently Closed ...
Capstead Mortgage Corporation (NYSE:CMO) announced today that the underwriters of its recent public offering of 8 million shares of common stock, which closed on November 21, 2007, have exercised in full their option to purchase 1.2 ... (Tue, 27 Nov 2007 20:24:36 GMT)

Mass. auditor: More resources needed to oversee mortgage lenders
Massachusetts Auditor Joe DeNucci says the state needs more resources to strengthen oversight of mortgage lenders amid spiking home foreclosures. (Tue, 27 Nov 2007 20:59:38 GMT)

More Fallout From Mortgage Crisis
The U.S. Conference of Mayors is releasing a discouraging new report that shows the worst of the mortgage crisis may still be to come. The numbers are staggering and show just how significant the economic fallout from the subprime mortgage fiasco is going to be in the coming year. (Tue, 27 Nov 2007 21:44:22 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. (Tue, 27 Nov 2007 22:21:46 GMT)

HomeBanc Mortgage Gets Ch 11 Extension
HomeBanc Mortgage Corp. has won court approval to extend by about four months the deadline by which it must file a Chapter 11 plan. (Tue, 27 Nov 2007 22:25:20 GMT)

Charles H. Johnson & Associates Announces Filing of Securities Class Action Against Federal Home Loan Mortgage ...
MINNEAPOLIS, Nov. 27, 2007 -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Federal Home Loan Mortgage Corporation publicly traded securities during the period August 1, 2006 through November 19, 2007 . (Tue, 27 Nov 2007 22:28:41 GMT)

Mortgage Company Owner Skips Hearing
Hundreds of people victimized by a defunct mortgage company pressed authorities for answers Tuesday about the company's bankruptcy case, but the man they most wanted to hear from was a no-show. (Tue, 27 Nov 2007 22:29:49 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? (Tue, 27 Nov 2007 22:36:35 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. (Tue, 27 Nov 2007 23:06:35 GMT)

Wells Fargo to take $1.4 billion special provision for loan losses
Wells Fargo said Tuesday it will set aside $1.4 billion to bolster loan-loss reserves, largely due to losses from home equity loans. (WFC) (Tue, 27 Nov 2007 23:07:18 GMT)

''New'' Loan Limits Anything But, Says CALIFORNIA ASSOCIATION OF REALTORS(R); OFHEO Blows Opportunity to Improve ...
LOS ANGELES----The cost of financing a home remains out of reach for many households in California in the wake of the Office of Federal Housing Enterprise Oversight conforming loan limits for 2008, announced earlier today, according to CALIFORNIA ASSOCIATION OF REALTORS®. (Tue, 27 Nov 2007 23:09:00 GMT)

UPDATE: Wells Fargo Sets Aside $1.4 Bln To Cover Home Equity Loan Losses
SAN FRANCISCO (Dow Jones) -- Wells Fargo & Co., the second-largest U.S. mortgage lender, said late Tuesday that it will set aside $1.4 billion during the fourth quarter to cover higher losses on home-equity loans caused by deterioration in the real estate market. (Tue, 27 Nov 2007 23:56:49 GMT)

Audit: State needs to increase oversight of mortgage industry
A new audit finds the state's Division of Banks needs more resources to improve oversight of mortgage lenders and brokers. (Wed, 28 Nov 2007 02:01:41 GMT)

Wells Fargo plunges into the mortgage muck with $1.4B in losses
After avoiding major trouble most of the year, Wells Fargo & Co. has finally bogged down in the mortgage muck that's muddying one major bank after another. Wells Fargo, the fifth-largest U.S. bank, waded into the mess by saying it will recognize $1.4... (Wed, 28 Nov 2007 02:08:25 GMT)

Govt targeting rogue mortgage brokers
Rogue mortgage brokers who prey on people desperate for credit will be driven out of the industry under changes being proposed by the NSW government. (Wed, 28 Nov 2007 02:32:11 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, 28 Nov 2007 02:37:05 GMT)

Bracing for Home Loan Losses, Wells Fargo to Take Big Charge
The nation?s second-largest mortgage lender said Tuesday that it would take a $1.4 billion fourth-quarter charge for losses it anticipated in connection with home loans. (Wed, 28 Nov 2007 03:36:19 GMT)

Region among hardest hit by mortgage crisis
WASHINGTON — Southwestern Connecticut's economy will be among the hardest hit in the nation next year by the growing mortgage crisis, according to a report released Tuesday by the U. (Wed, 28 Nov 2007 04:50:24 GMT)

Investigation Reveals Some Mortgage Brokers' Tactics
Newschannel5 had a rare opportunity to witness a local broker pitch a loan deal to a local, legally blind grandmother. (Wed, 28 Nov 2007 05:21:02 GMT)

Wells Fargo To Absorb $1.4B In Home Loan Losses
Wells Fargo & Co. is absorbing $1.4 billion in losses on home equity loans that borrowers have stopped repaying amid a deepening real estate slump that's turned into a financial sinkhole. (Wed, 28 Nov 2007 05:22:49 GMT)

Wells Fargo sinks into mortgage morass
After avoiding major trouble most of the year, Wells Fargo & Co. has finally bogged down in the mortgage muck that's muddying one major bank after another. (Wed, 28 Nov 2007 05:25:12 GMT)

Mortgage lender named in lawsuit
A Berkeley County homeowner is suing her mortgage lender in federal court, claiming she was sold a risky loan with a low teaser interest rate but was not told how the payments would increase over time or how the loan actually worked. Bonnie Mincey of Hanahan said in court papers that in Ma... (Wed, 28 Nov 2007 05:55:41 GMT)

Wells Fargo plunges into mortgage muck
After avoiding major trouble most of the year, Wells Fargo & Co. has finally bogged down in the mortgage muck that's muddying one major bank after another. (Wed, 28 Nov 2007 06:01:08 GMT)

HOWES: Both sides at fault in mortgage meltdown
Here at an epicenter of the mortgage meltdown, where tanking property values just about match rocking global equity markets, talk naturally looks for someone to blame. How 'bout lenders, investors, ratings agencies and borrowers? (Wed, 28 Nov 2007 06:24:05 GMT)

SW Sydney hit hardest by mortgage stress
Home buyers in south-western Sydney are struggling the most with the burden of high mortgage payments, new figures show. (Wed, 28 Nov 2007 08:09:11 GMT)

Sydney the most mortgage stressed city
HOME buyers in southwestern Sydney are struggling the most with the burden of high mortgage payments, figures show. (Wed, 28 Nov 2007 08:13:00 GMT)

Sydney the most mortgage stressed city
HOME buyers in southwestern Sydney are struggling the most with the burden of high mortgage payments, figures show. (Wed, 28 Nov 2007 08:13:00 GMT)

Sydney the most mortgage stressed city
HOME buyers in southwestern Sydney are struggling the most with the burden of high mortgage payments, figures show. (Wed, 28 Nov 2007 08:13:00 GMT)

Mortgage industry, mayors warn of foreclosure risks
DETROIT — A mortgage industry group agreed Tuesday to help the nation's mayors raise public awareness about ways to avoid falling into foreclosure as part of an effort to address the nation's housing crisis. (Wed, 28 Nov 2007 08:16:03 GMT)

SW Sydney hit hardest by mortgage stress
Home buyers in south-western Sydney are struggling the most with the burden of high mortgage payments, new figures show. The study on mortgage delinquency by international ratings agency Fitch Ratings was dominated by New South Wales, the state that had the top seven "worst-performing" suburbs. (Wed, 28 Nov 2007 08:25:44 GMT)

New round of mortgage defaults could cause economic meltdown
NEW YORK -- When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get. (Wed, 28 Nov 2007 08:37:23 GMT)

Four charged in mortgage scam
A Roslyn man and three Queens residents hatched a mortgage scheme by "flipping" a home bought with fake ID at $360,000 and securing a $445,000 loan to resell it to a dead woman at an inflated price, Queens prosecutors said yesterday. (Wed, 28 Nov 2007 08:37:39 GMT)

New Online Mortgage Auction Site Revolutionizes Home Loan Process for Borrowers and Lenders
NameYourLoan.com announces the launch of its unique patent pending online mortgage auction site, NameYourLoan.com. The company's goal is to create an online community where professional and honest lenders can easily and inexpensively obtain qualified sales leads, and borrowers can quickly and conveniently receive multiple competitive offers online for all mortgage loan types, including best ... (Wed, 28 Nov 2007 08:39:30 GMT)

Mortgage stress not localised, experts say
A new report on mortgage defaults argues that rising property prices have disguised the true extent of problems in the home loan market. (Wed, 28 Nov 2007 10:12:00 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, 28 Nov 2007 10:23:02 GMT)

Mayors promote mortgage education
A mortgage industry association agreed Tuesday to help the nation's mayors raise public awareness about ways to avoid falling into foreclosure as part of an effort to address the nation's housing crisis. (Wed, 28 Nov 2007 10:41:37 GMT)

Mortgage fees double
Up-front fees charged by mortgage lenders have nearly doubled in the past two years, Moneyfacts says. (Wed, 28 Nov 2007 11:17:25 GMT)

Mortgage Application Volume Declines
Mortgage application volume fell 4.3 percent during the week ending Nov. 23, according the trade group Mortgage Bankers Association's weekly application survey. (Wed, 28 Nov 2007 12:19:47 GMT)

U.S. MBA's Mortgage Applications Index Fell 4.3% Last Week
Nov. 28 (Bloomberg) -- The number of mortgage applications in the U.S. dropped last week, led by the biggest decline in refinancing this year. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan decreased 4.3 percent to 652.5 from 681.7 the prior week. (Wed, 28 Nov 2007 12:57:21 GMT)

Where's mortgage pain worst?
A NEW study on mortgage delinquency by international ratings agency Fitch Ratings is dominated by NSW. Find out where people are doing it toughest. (Wed, 28 Nov 2007 13:00:00 GMT)

MBA: Mortgage applications tumble
Volume down 4.3% in latest week; refinance volume plunges 15.3% as purchase applications rise, industry trade group's weekly survey reveals. (Wed, 28 Nov 2007 13:01:00 GMT)

Mortgage applications drop 4.3% in latest week
Applications for home mortgages fell last week as rates on some adjustable loans soared to their highest levels in more than two months, the Mortgage Bankers Association said Wednesday. (Wed, 28 Nov 2007 13:50:04 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, 28 Nov 2007 14:10:12 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, 28 Nov 2007 14:10:32 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, 28 Nov 2007 14:10:42 GMT)

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