Mortgage News Dec 2007

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Columnist: Mortgage aid plan doesn't help enough people
How timely that just as President Bush was announcing a deal to help homeowners struggling with their mortgage payments, new data were released showing that foreclosure starts set a new record. (Thu, 13 Dec 2007 08:16:35 GMT)

Lenders' Praise Flies In Face Of Mortgage Chaos
LAST week, the UK's mortgage lenders got together and celebrated the industry's long and heroic history of success. (Thu, 13 Dec 2007 09:38:47 GMT)

'Straw buyers' ran up mortgage loan scam
In what authorities say is a symptom of the excesses in the subprime mortgage market, 15 people are charged with fraud involving at least nine homes valued at more than $4 million. (Thu, 13 Dec 2007 10:05:20 GMT)

Car loan shouldn't hurt home refinance
If you have good credit, a new car loan shouldn't hamper your ability to refinance a home loan, says Dr. Don Taylor. (Thu, 13 Dec 2007 11:00:00 GMT)

Mortgage rates rise despite Fed cut
Mortgage rates went up this week, despite the Federal Reserve's decision to reduce short-term interest rates. (Thu, 13 Dec 2007 11:00:00 GMT)

Amlak Finance voted as 'Best Mortgage Finance Company' at Islamic Business & Finance Awards 2007
In a move dubbed by industry experts as another testament to its leading position in the market, Amlak Finance PJSC, the largest publicly listed finance company and pioneer in home finance in the United Arab Emirates (UAE), was awarded the prize for the 'Best Mortgage Finance Company' at the Islamic Business & Finance Awards 2007, held in Dubai. (Thu, 13 Dec 2007 11:04:18 GMT)

German realty firm ties with Mashreq for home loan for its properties
Bavaria Gulf, leading German real estate developer that has launched Sandoval Apartments at the Jumeirah Village, has announced that it has become one of Dubai's first mid-segment realty developers to sign a home loan agreement for all its existing and future projects with Mashreq, one of the largest private banks in the Middle East. (Thu, 13 Dec 2007 12:18:44 GMT)

Bill targets mortgage lenders
South Carolina mortgage lenders could face stricter licensing rules and more oversight — an effort to cut fraud and foreclosure — under a bill proposed by state lawmakers Wednesday. The proposal is one of 97 in a second batch of bills ready for January’s legislative session. In addition to the mortgage bill, other proposals include: •  Creating a statewide water-use panel to head off ... (Thu, 13 Dec 2007 12:50:41 GMT)

Lehman Beats Estimates After Limiting Mortgage Losses (Update1)
Dec. 13 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, reported a smaller profit decline than analysts estimated after limiting losses from the collapse of the subprime market. (Thu, 13 Dec 2007 13:57:43 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Thu, 13 Dec 2007 14:25:32 GMT)

Lehman Beats Estimates After Limiting Mortgage Losses (Update2)
Dec. 13 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, reported a smaller profit decline than analysts estimated as revenue from equity trading offset losses in the subprime market. (Thu, 13 Dec 2007 15:12:42 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Thu, 13 Dec 2007 15:37:52 GMT)

Lehman Earnings Drop 12% After Mortgage Writedown (Update3)
Dec. 13 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, said fourth- quarter earnings fell 12 percent on writedowns stemming from the collapse of the subprime market. (Thu, 13 Dec 2007 15:57:54 GMT)

Mortgage rates rise
Lowered expectations for a recession led to a lift in mortgage rates this week, Freddie Mac reported Thursday. (Thu, 13 Dec 2007 16:01:13 GMT)

U.S. mortgage rates show increase
Long and short term U.S. mortgage rates were up this week, reversing a recent trend, the Freddie Mac market report said Thursday. (Thu, 13 Dec 2007 16:08:22 GMT)

U.S. mortgage rates move up: Freddie Mac
CHICAGO (MarketWatch) -- Mortgage rates reversed course and rose this week on employment data that indicated to some that a recession might not be as likely as previously thought, Freddie Mac's chief economist said on Thursday. (Thu, 13 Dec 2007 16:32:56 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, 13 Dec 2007 16:52:57 GMT)

Mortgage Rates Climb This Week
Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.11 percent. (Thu, 13 Dec 2007 16:55:16 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Thu, 13 Dec 2007 17:06:55 GMT)

Mortgage Rates Climb This Week
Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of... (Thu, 13 Dec 2007 17:08:56 GMT)

Bankrate: Mortgage Rates Rise After Tepid Jobs Report
Fixed mortgage rates reversed course, with the average conforming 30-year fixed mortgage rate rebounding to 6.17 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.36 discount and origination points. (Thu, 13 Dec 2007 17:27:00 GMT)

Mortgage Rates Climb This Week
WASHINGTON -- Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. (Thu, 13 Dec 2007 17:27:28 GMT)

Mortgage Company To Pay Iowans $2.6 Million
State Attorney General Tom Miller announced refunds to customers of Ameriquest Mortgage Company on Thursday. Ameriquest has written a check for $2.6 million to be paid back to customers in Iowa. (Thu, 13 Dec 2007 18:00:47 GMT)

Washington Mutual cuts 215 jobs at Irvine loan center
Home loan offices in Santa Ana, South Coast Metro, Corona del Mar and Laguna Niguel will close with additional layoffs. (Thu, 13 Dec 2007 18:00:53 GMT)

Lehman Earnings Drop 12% After Mortgage Writedown (Update4)
Dec. 13 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, said earnings fell for a second straight quarter and losses from the collapse of the subprime market will extend into next year. (Thu, 13 Dec 2007 18:12:28 GMT)

Mortgage rates reverse course, move higher this week
Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. (Thu, 13 Dec 2007 18:59:56 GMT)

Too Late to Refinance an ARM?
Mortgage rates rise from two-year lows. (Thu, 13 Dec 2007 19:47:42 GMT)

Mortgage Rates Rise Despite Fed Cut
It may be too late to refinance that adjustable rate mortgage. (Thu, 13 Dec 2007 20:02:44 GMT)

Lehman Earnings Drop 12% After Mortgage Writedown (Update5)
Dec. 13 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, said earnings fell for a second straight quarter and losses from the collapse of the subprime market will probably extend into next year. (Thu, 13 Dec 2007 20:12:31 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, 13 Dec 2007 20:52:27 GMT)

Lehman Earnings Drop 12% After Mortgage Writedown (Update6)
Dec. 13 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, said earnings fell for a second straight quarter and losses from the collapse of the subprime market will probably extend into next year. (Thu, 13 Dec 2007 21:27:35 GMT)

Countrywide: Home Loans Up From October
Countrywide Financial Corp., the nation's largest mortgage lender, said Thursday its November home loan production increased a slight 5 percent from October but showed a 40 percent drop from the same month last year. (Thu, 13 Dec 2007 23:45:34 GMT)

Mortgage crisis inflicts collateral damage
The surge in mortgage defaults is claiming more victims. Homeless rates are on the rise among evicted renters, local governments are losing tax revenue and reports of domestic violence are rising. (Thu, 13 Dec 2007 23:47:37 GMT)

Countrywide: Loan fundings up from October, down on annual basis
Countrywide Financial Corp., the nation's largest mortgage lender, said Thursday its November home loan production increased a slight 5 percent from October but showed a 40 percent drop from the same month last year. The increase from the previous... (Fri, 14 Dec 2007 00:06:54 GMT)

Ill. Attorney General Probing Countrywide Financial Home Loan Unit
Chicago--The Illinois attorney general is investigating the home loan division of Countrywide Financial, the nation’s largest mortgage lender and loan servicer, The New York Times reported Thursday. (Fri, 14 Dec 2007 00:09:35 GMT)

What to do when you mortgage is underwater and you can't pay
WASHINGTON (MarketWatch) -- Question: What do I do when I owe a $450,000 first mortgage, a second at $115,000 and new houses he same as mine are selling for $500,000? I owe two months on the first and two months on the second, and I cannot pay. What do I do? (Fri, 14 Dec 2007 00:38:34 GMT)

Illinois, California attorneys general investigating mortgage lender Countrywide Financial
Attorneys general in California and Illinois are investigating the lending practices of Countrywide Financial Corp., the nation's largest mortgage lender, officials said Thursday. (Fri, 14 Dec 2007 06:10:19 GMT)

Mortgage rates move higher
WASHINGTON - Mortgage rates, which had been sliding, went up this week, disappointing news to would-be homebuyers. (Fri, 14 Dec 2007 06:24:11 GMT)

Mortgage meltdown linked to fraud
The desire to make a "quick buck," along with extremely lax lending practices, are considered to be among the chief reasons for the recent decline in the nationwide mortgage and housing markets, according to a local title company executive (Fri, 14 Dec 2007 07:38:06 GMT)

Home-loan hit for would-be home-buyers
WASHINGTON - Mortgage rates, which had been sliding, rose this week, disappointing news for prospective home-buyers. Freddie Mac, the mortgage company, reported yesterday that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of 5.96 percent - the lowest in more than two years. Until this week, rates on 30-year mortgages had been falling or holding steady ... (Fri, 14 Dec 2007 09:10:25 GMT)

Countrywide loan unit facing Illinois probe
The home loan unit of Countrywide Financial Corp, the largest U.S. mortgage lender, is under investigation in Illinois over its lending practices in the state, the Illinois attorney general's office confirmed yesterday. (Fri, 14 Dec 2007 09:50:18 GMT)

AG settles with mortgage rescue firm
POST FALLS -- A Post Falls mortgage foreclosure rescue firm has been ordered by the state to change its business and advertising practices as a result of a Post Falls woman who claimed she was a victim of "equity skimming." (Fri, 14 Dec 2007 10:11:35 GMT)

2-year-low mortgage rates move back up
WASHINGTON -- Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6. (Fri, 14 Dec 2007 12:05:12 GMT)

Mortgage rates head back up
Freddie Mac, the mortgage company, reported yesterday that 30-year fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of 5.96 percent, which was the lowest in more than two years. (Fri, 14 Dec 2007 12:22:39 GMT)

Jackson: Candidates failing to address subprime mortgage crisis
MADISON Rev. Jesse Jackson is criticizing the presidential candidates of both parties for failing to discuss the subprime mortgage crisis during the campaign. (Fri, 14 Dec 2007 12:31:28 GMT)

Ahead of the Bell: Mortgage Industry
Research firm FBR said the mortgage industry needs to shed 130,000 jobs before it can turn profitable because a sharp downturn in lending has left companies with bloated payrolls. (Fri, 14 Dec 2007 13:27:32 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, 14 Dec 2007 14:10:02 GMT)

Nuts and bolts of mortgage relief plan
The plan to freeze interest rates on adjustable-rate mortgages for five years, called "fast track" and outlined by the Bush administration and the mortgage industry, will come as welcome relief to some subprime borrowers, but not everyone will qualify for the freeze. (Fri, 14 Dec 2007 14:36:56 GMT)

Mortgage rates rise across board
Mortgage rates, which had been sliding, went up this week, disappointing news to would-be homebuyers. (Fri, 14 Dec 2007 15:36:53 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. (Fri, 14 Dec 2007 15:38:48 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Fri, 14 Dec 2007 15:52:15 GMT)

Bradford Mortgage expands in Charleston
Bradford Mortgage Co. has opened a second office in the Charleston, S.C. market and tripled its staff there from four to 12 people. (Fri, 14 Dec 2007 16:00:52 GMT)

Fed to hold Tues meeting on mortgage rule change
The Federal Reserve Board said on Friday it has scheduled an open board meeting on December 18 to discuss proposed rule changes on mortgage lending to address unfair and deceptive lending practices. (Fri, 14 Dec 2007 16:25:10 GMT)

Banks crack down on mortgage fraud
Banks are seeking to crack down on mortgage fraud as evidence mounts of a rise in the number of fraudulent borrowers. Abbey and Lloyds TSB are among the banks reporting a surge in the volume of potentially fraudulent mortgage applications in recent months. (Fri, 14 Dec 2007 16:40:23 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." (Fri, 14 Dec 2007 16:53:18 GMT)

Senate passes mortgage-relief bill
WASHINGTON (MarketWatch) -- The Senate on Friday approved legislation that would make it easier for homeowners facing potentially higher mortgage payments to get help from the government. (Fri, 14 Dec 2007 18:23:44 GMT)

Mortgage banks set to face tougher market conditions
Next year mortgage lenders such as Bradford & Bingley and Alliance & Leicester are expected to face a much tougher mortgage market. First, the housing market is slowing. (Fri, 14 Dec 2007 18:45:12 GMT)

Lawmakers seek to boost home-buying benefit - Army News, opinions, editorials, news from Iraq, photos, reports - Army ...
The House Veterans’ Affairs Committee is focusing on how to use the veterans’ home loan program to help service members and veterans who risk losing their homes. (Fri, 14 Dec 2007 20:03:10 GMT)

MFA Mortgage Sets Regular Dividend
MFA Mortgage Investments Inc. on Thursday announced a regular quarterly dividend of 14.5 cents per share. The real estate investment trust said it will pay the dividend Jan. 31 to shareholders of record Dec. 31. (Fri, 14 Dec 2007 20:47:13 GMT)

1:32 p.m. -- Idahoans will receive more than $432,000 in restitution from Ameriquest Mortgage
More than $432,000 in restitution payments will be mailed to 455 Idahoans today as a result of a multi-state settlement with Ameriquest Mortgage, Attorney General Lawrence Wasden said. (Fri, 14 Dec 2007 20:54:18 GMT)

Senate votes to help strapped homeowners
The Senate moved Friday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Fri, 14 Dec 2007 21:08:00 GMT)

WaMu closes 10 South Florida loan offices
Washington Mutual said it has closed 10 home loan centers and eliminated 110 jobs in its seven-county South Florida region, which includes Miami-Dade, Broward and Palm Beach. (WM) (WB) (BAC) (Fri, 14 Dec 2007 21:20:16 GMT)

Senate OKs bill to help homeowners caught in mortgage crisis
It allows FHA to back refinanced loans for borrowers delinquent on payments The Senate moved today against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Fri, 14 Dec 2007 21:38:53 GMT)

Bernanke: Fed Eyeing Mortgage Broker Pay
U.S. Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider whether consumers need more information on how mortgage brokers are paid as part of its efforts to improve transparency in the mortgage industry. (Fri, 14 Dec 2007 21:59:19 GMT)

Anworth Mortgage Sets Regular Dividend
Anworth Mortgage Asset Corp. on Thursday announced a regular quarterly dividend of 12 cents per share. The mortgage real estate investment trust said it will pay the dividend Jan. 18 to shareholders of record Dec. 24. (Fri, 14 Dec 2007 22:27:00 GMT)

Senate Moves to Ease Mortgage Woes
The Senate voted to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans (Fri, 14 Dec 2007 22:29:05 GMT)

Senate votes to expand mortgage program
The Senate moved Friday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Fri, 14 Dec 2007 22:43:48 GMT)

CMG's 'Accelerator' Mortgage Deserves a Second Look
Two years ago, I wrote a fairly critical piece about CMG Financial's Home Ownership Accelerator mortgage loan program. I have since taken a closer look at the complicated program and have decided that my initial review did not do it justice. (Sat, 15 Dec 2007 00:34:41 GMT)

Treasury Official Defends Bush's Mortgage Bailout
Robert Steel, the Bush administration's point man on solving the subprime mortgage crisis, was behind last week's announced plan to bring together lenders and borrowers to work out voluntary agreements to avoid foreclosure. Steel says the plan will help 1,200,000 people. (Sat, 15 Dec 2007 01:35:00 GMT)

Senate Passes Bill Easing Home Loan Rules
The Senate passed legislation on Friday that would make more Federal Housing Administration loans available to subprime borrowers facing foreclosure. (Sat, 15 Dec 2007 02:20:20 GMT)

Downey takes hit on bad home loans
Downey Financial, a California-based savings and loan company, said on Friday home loan delinquencies rose 27 per cent in November to $105.4m, sending shares sharply lower. (Sat, 15 Dec 2007 02:34:45 GMT)

Bad home loans send Downey down 6%
Downey Financial, a California-based savings and loan company, said yesterday home loan delinquencies rose 27 per cent in November to $105.4m, sending shares sharply lower. (Sat, 15 Dec 2007 03:03:55 GMT)

National mortgage crisis ensnares Iraq war vet
Sgt. Marcus Barton and his family bought into the American dream when he was on leave from Iraq. But ballooning mortgage payments mean Barton may have to give up his house and his dream. (Sat, 15 Dec 2007 03:23:13 GMT)

Bradford Mortgage expands operation
A rough year for the housing industry has only increased Bradford Mortgage Co.'s appetite for growth. (Sat, 15 Dec 2007 03:47:49 GMT)

Senate votes to ease FHA mortgage process
Washington - The Senate moved Friday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 03:53:53 GMT)

Senate Moves To Address Impending Mortgage Rate Changes
WASHINGTON - The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 04:14:44 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? (Sat, 15 Dec 2007 05:51:35 GMT)

Senate passes bill to ease mortgage refinancing
WASHINGTON -- The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 05:57:53 GMT)

Bill aims to ease mortgage crisis
The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The legislation, approved 93-1, would allow the Federal Housing Administration to back refinanced loans for borrowers who are delinquent on payments because their mortgages are resetting to sharply higher ... (Sat, 15 Dec 2007 06:03:52 GMT)

Senate passes measure to ease mortgage crisis
The Senate moved against the worsening mortgage crisis yesterday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 06:24:31 GMT)

Bill eases path to refinancing
WASHINGTON (AP) -- The Senate moved Friday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 07:06:56 GMT)

U.S. votes in mortgage relief
WASHINGTON -- The U.S. Senate moved yesterday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 08:38:30 GMT)

Senate votes to make FHA refinancing easier
WASHINGTON - The Senate moved against the worsening mortgage crisis yesterday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 09:16:04 GMT)

Senate backs home loan bill
WASHINGTON — The Senate on Friday approved legislation that would make it easier for homeowners facing potentially higher mortgage payments to get help from the government. (Sat, 15 Dec 2007 10:02:08 GMT)

State official says Vermont's funds are safe from subprime mortgage problems
MONTPELIER -- Vermont's state investments face little danger from the expanding subprime mortgage debacle, an official with the Vermont State Treasurer's Office says. ... - By Louis Porter Vermont Press Bureau (Sat, 15 Dec 2007 11:39:13 GMT)

Senate approves Stabenow bill on mortgage taxes
WASHINGTON (AP) — The Senate has passed a bill written by Senator Debbie Stabenow that would allow homeowners to receive mortgage forgiveness from their lender tax-free. (Sat, 15 Dec 2007 11:52:10 GMT)

Senate passes bill aimed at helping homeowners caught in mortgage crisis
WASHINGTON (AP) — The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 12:21:14 GMT)

Senate OKs refinancing into U.S.-insured loans
The Senate moved against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 12:50:20 GMT)

Senate bill tackles mortgage crisis
WASHINGTON The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 13:44:24 GMT)

Senate passes mortgage legislation
The Senate voted to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The effort is to help stem the mortgage crisis. (Sat, 15 Dec 2007 15:59:57 GMT)

Mortgage Bail-Out Bill Passes
CAPITOL HILL (AP)- The Senate has passed a bill that could provide some relief to families facing steep increases in their mortgage payments. (Sat, 15 Dec 2007 16:43:40 GMT)

Shop around before deciding on mortgage broker
When home buyers need suggestions about where to find a good mortgage broker, they often turn to real estate agents, but, as with any recommendations, these referrals should be approached carefully. (Sat, 15 Dec 2007 17:58:52 GMT)

Senate passes bill to help homeowners in mortgage crisis
WASHINGTON — The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sat, 15 Dec 2007 18:23:41 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, 15 Dec 2007 19:13:54 GMT)

Senate Passes Bill Easing Home Loan Rules
The Senate passed legislation on Friday that would make more Federal Housing Administration loans available to subprime borrowers facing foreclosure. (Sat, 15 Dec 2007 20:51:57 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? (Sat, 15 Dec 2007 22:37:12 GMT)

PHH Corps. honors two at Mortgage Makers
Two honored by PHH Mortgage. Mike Dapkus, Branch Manager of Mortgage Makers, was honored by PHH Mortgage, a subsidiary of PHH Corporation (NYSE: PHH), with the prestigious "Best of the Best" award at the 20th annual Real Estate Client Conference held in June. (Sun, 16 Dec 2007 00:13:48 GMT)

Capitol Federal stands steady amid mortgage industry meltdown
In the chaos of the mortgage market, scores of lenders have collapsed. Wall Street chieftains have fallen. Foreclosure stalks perhaps a million homeowners. Washington pushes a hopeful cure. (Sun, 16 Dec 2007 04:38:58 GMT)

President Bush's mortgage plan doesn't go nearly far enough
How timely that just as President Bush was announcing a deal to help homeowners struggling with their mortgage payments, new data were released showing that foreclosure starts set a new record. (Sun, 16 Dec 2007 05:49:32 GMT)

Fed planning to crack down on shady mortgage lending practices
WASHINGTON -- People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches. (Sun, 16 Dec 2007 06:04:45 GMT)

Behind on the mortgage? There are options
Various segments of the housing industry have floated "what-if" balloons regarding possible solutions for the national mortgage mess. (Sun, 16 Dec 2007 08:05:19 GMT)

Home Mortgage Shoppers Have New Forum To Talk About Mortgage Rates, Loan Offers and Home Loan Questions
CardRatings.com and FreeRateSearch.com join efforts to creatively provide consumers a venue to seek out information regarding mortgage rates, loan offers and home loan questions. CardRatings.com has invited FreeRateSearch.com to join their already thriving credit forum community in hopes of reaching a wider variety of inquisitive consumers. (PRWeb Dec 16, 2007) (Sun, 16 Dec 2007 08:07:57 GMT)

Mortgage rates climb, frustrate buyers
Mortgage rates, which had been sliding, went up last week, disappointing news to would-be homebuyers. (Sun, 16 Dec 2007 08:19:23 GMT)

Respondents agree with mortgage rate freeze
A slight majority of those participating in an online poll agree with the federal government's decision to freeze subprime mortgage rates to help homeowners with spotty credit faced with an increase in payments. (Sun, 16 Dec 2007 09:34:32 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, 16 Dec 2007 09:47:12 GMT)

For many in Bay County, a mortgage payment turns their finances - and lives - upside down
Like millions of other Americans, Dave Kozuch of Bay City ran into a bit of trouble making his mortgage payments. About a year ago, the part-time maintenance worker was laid off. Finding $240 per month to pay the note on the $30,000 mortgage he got five years ago, to buy a house at 1115 N. (Sun, 16 Dec 2007 11:24:16 GMT)

Senate passes bill aimed at helping homeowners caught in mortgage crisis
WASHINGTON (AP) — The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sun, 16 Dec 2007 11:34:03 GMT)

Fed plans to crack down on shady loan practices
WASHINGTON -- People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches. (Sun, 16 Dec 2007 11:44:53 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, 16 Dec 2007 11:53:01 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, 16 Dec 2007 12:53:03 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? (Sun, 16 Dec 2007 13:06:46 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 16 Dec 2007 13:07:41 GMT)

Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Sun, 16 Dec 2007 13:07:51 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, 16 Dec 2007 13:21:36 GMT)

Injury may end Feeney loan
Warren Feeney may have played his last game for Swansea after the on-loan Cardiff striker was stretchered off. (Sun, 16 Dec 2007 13:37:12 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? (Sun, 16 Dec 2007 14:36:58 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. (Sun, 16 Dec 2007 14:52:51 GMT)

Rock Financial pitchman David Hall leaves mortgage lender
LIVONIA, Mich. -- David Hall, known as television and radio pitchman for Rock Financial, has left the Michigan mortgage company. Quicken Loans Inc. (Sun, 16 Dec 2007 16:22:31 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, 16 Dec 2007 16:52:51 GMT)

Senate passes bill to help homeowners in mortgage crisis
WASHINGTON — The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sun, 16 Dec 2007 17:24:01 GMT)

Deception hits mortgage market once again
WASHINGTON, D.C. -- With the housing market in decline, unscrupulous sales agents are popping up in the booming reverse-mortgage industry, where reports of deceptive and high-pressure sales tactics are worrying lawmakers and consumer advocates alike. (Sun, 16 Dec 2007 18:13:59 GMT)

Fed to propose new rules for mortgage lenders
People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches. (Sun, 16 Dec 2007 20:48:07 GMT)

Get Extra Cash By Refinancing Your Car
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Sun, 16 Dec 2007 21:07:41 GMT)

The £100,000 speeches that help to pay the Blair mortgage
As Britain tightens its belt in response to the credit crunch and fears of a downturn, one man at least appears to have shaken off doubts about his ability to pay his mortgage. (Sun, 16 Dec 2007 21:12:40 GMT)

Thinking of Buying a Home? Here’s a “To Don’t” List……
You can find a lot of articles out there that tell you what you should do when thinking of applying for a home loan. But be advised, there are things you should NOT do as well….. (Sun, 16 Dec 2007 21:17:26 GMT)

McCanns admit using fund to pay mortgage
London - The parents of missing British toddler Madeleine McCann used public money donated to a fund for finding their daughter to pay their mortgage, their spokesperson confirmed on Tuesday. (Sun, 16 Dec 2007 22:50:51 GMT)

Banks must own up to subprime losses to keep fear at bay: analysts
It is time for the banks to fully disclose their US home-loan losses to prevent fear from making a tough credit crunch worse since the central banks have done about all they can to restore confidence, analysts say. (Sun, 16 Dec 2007 23:09:19 GMT)

Cashing in on the mortgage mess
A budding industry of mom-and- pop players has jumped into the mortgage crisis to try to buy or broker multimillion-dollar packages of foreclosures and loans. (Sun, 16 Dec 2007 23:14:55 GMT)

BOE Paper: Mortgage Holders Not Struggling To Make Payments
LONDON -(Dow Jones)- Despite rising interest rates, mortgage holders didn't struggle to keep up on their debt payments in the year to September, a Bank of England paper said Monday. (Mon, 17 Dec 2007 00:26:38 GMT)

Centro Shares Slump After Profit Forecast Cut on U.S. Subprime
Dec. 17 (Bloomberg) -- Centro Properties Group, an owner of U.S. shopping malls, plummeted 70 percent in Sydney trading after cutting is profit forecast because it was unable to refinance debt amid the fallout in the U.S. subprime mortgage market. (Mon, 17 Dec 2007 00:50:22 GMT)

Deception hits mortgage market once again
WASHINGTON, D.C. -- With the housing market in decline, unscrupulous sales agents are popping up in the booming reverse-mortgage industry, where reports of deceptive and high-pressure sales tactics are worrying lawmakers and consumer advocates alike. (Mon, 17 Dec 2007 01:45:42 GMT)

Centro Shares Slump After Profit Forecast Cut (Update1)
Dec. 17 (Bloomberg) -- Centro Properties Group, an owner of almost 700 U.S. shopping malls, plummeted 69 percent in Sydney trading after cutting its profit forecast as it struggles to refinance debt amid the U.S. subprime mortgage fallout. (Mon, 17 Dec 2007 01:50:11 GMT)

Mortgage pain starts to hit spending
Half of homeowners whose mortgage rates have risen in the past year have cut back on spending to pay the more expensive loans, according to Bank of England research published on Monday. (Mon, 17 Dec 2007 02:55:16 GMT)

Fed to propose consumer protections in mortgage regulations
Draft mortgage regulations to be unveiled Tuesday by the Federal Reserve will protect consumers without cutting off credit, Federal Reserve Chairman Ben Bernanke said Friday in a letter. (Mon, 17 Dec 2007 04:28:24 GMT)

Mortgage firm for Saudi
The Saudi Home Loans (SHL) Company, a new mortgage provider, has been established in Saudi Arabia. (Mon, 17 Dec 2007 04:36:39 GMT)

Mortgage crisis may slow some segments of area retail market
While most of the country is worrying about the meltdown going on in the residential mortgage market, San Antonio commercial developers are starting new projects with little concern about how they're going to pay for them. (Mon, 17 Dec 2007 05:06:55 GMT)

EU executive proposes to streamline home loan mart
European Union plans to be unveiled tomorrow to create a more joined-up market for home loans will draw on lessons from the US, where a subprime loans crisis is roiling global financial markets. (Mon, 17 Dec 2007 05:42:04 GMT)

Mortgage mess continues to trigger bids to ease crisis
It's becoming clear that no single, sweeping measure will stem the foreclosure tide in Ohio, even with help offered under a national agreement struck between the Bush administration and the mortgage industry. (Mon, 17 Dec 2007 05:47:47 GMT)

Centro Shares Slump After Profit Forecast Cut (Update2)
Dec. 17 (Bloomberg) -- Centro Properties Group, the owner of almost 700 U.S. malls, slumped 76 percent in Sydney trading after cutting its profit forecast as it struggles to refinance debt, the latest victim of the U.S. subprime mortgage rout. (Mon, 17 Dec 2007 06:20:07 GMT)

Credit market quakes cause student loan tremors
WASHINGTON — Credit-market tremors — like the ones linked to the housing crisis — are beginning to show up in the $85 billion student-loan market. So far, there is no apparent shortgage of loans available to college-bound Americans. (Mon, 17 Dec 2007 06:40:19 GMT)

New Help for Homeowners: New Website Shows Homeowners How to Freeze or Lower Their Mortgage Payments, Turn The Tables ...
The Bush Paulson mortgage freeze offers relief to only a small number of homeowners. A new website, Mortgage Relief Formula, shows all homeowners little known techniques to get lower payments without refinancing, or sell their house even when they owe more than their house is worth -- and restore their credit. (Mon, 17 Dec 2007 07:01:00 GMT)

Companies get into reverse mortgage act
The reverse mortgage market is quickly becoming a hot area for banks and lenders trying to tap into a huge baby boom generation that hasn't saved enough for retirement. Here is some of that activity: (Mon, 17 Dec 2007 07:06:24 GMT)

Aging boomers spur reverse mortgage biz
Golden Gateway Financial Inc., a venture-capital-backed Oakland startup that bills itself as a reverse mortgage marketplace, officially launches next week. (Mon, 17 Dec 2007 07:06:44 GMT)

Mortgage banker licenses see 27 percent drop through first 10 months
Pennsylvania has experienced a net loss of 27 percent, or 1,069 total, of its mortgage banker licenses in the first 10 months of this year, according to Pennsylvania Department of Banking statistics. (Mon, 17 Dec 2007 07:11:16 GMT)

Mortgage insurers call on reinsurance to help cover losses amid housing, credit market woes
Record numbers of mortgage defaults during the U.S. housing crisis are likely, for the first time, to trigger significant payments from lender-operated reinsurance companies that provide a backstop to traditional mortgage insurance. (Mon, 17 Dec 2007 07:19:20 GMT)

New Help for Homeowners: New Website Shows Homeowners How to Freeze or Lower Their Mortgage Payments, Turn The Tables ...
The Bush Paulson mortgage freeze offers relief to only a small number of homeowners. A new website, Mortgage Relief Formula, shows all homeowners little known techniques to get lower payments without refinancing, or sell their house even when they owe more than their house is worth -- and restore their credit. (PRWeb Dec 17, 2007) Post Comment:Trackback URL: ... (Mon, 17 Dec 2007 08:19:42 GMT)

Greenspan calls for mortgage bailouts
Former Federal Reserve Chairman Alan Greenspan said he favors spending federal government money to bail out mortgage borrowers who risk losing their homes because they can't make payments. (Mon, 17 Dec 2007 08:58:37 GMT)

MORTGAGE MAYHEM
SHE who would be president excoriates, as Democratic presidential candidates must, the current president and almost all his works. But she and he largely agree regarding the subprime-mortgage problem. Granted, she greeted his response to it with... (Mon, 17 Dec 2007 09:13:46 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, 17 Dec 2007 09:16:39 GMT)

A mortgage and a prayer
Tracy-Jean Curry got the best mortgage deal her bank was willing to offer. And now she?s worried - because she took one of those loans everyone?s been talking about, even in the White House. (Mon, 17 Dec 2007 09:32:53 GMT)

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