Mortgage News Dec 2007

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How to choose a mortgage lender
Deciding on the right mortgage lender is a time-consuming, but extremely important task that can wind up saving you thousands of dollars — if you shop around. (Thu, 20 Dec 2007 16:22:28 GMT)

Should I Prepay My Home Equity Loan?
Does it make sense to sell mutual funds to prepay a home-equity loan? (Thu, 20 Dec 2007 16:33:18 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Thu, 20 Dec 2007 16:47:47 GMT)

Mortgage rates show slight increase
Mortgage rates moved up slightly this week as the U.S. housing market continues to show weakness, the Freddie Mac mortgage market survey said Thursday. (Thu, 20 Dec 2007 17:11:10 GMT)

5 banks create $125 million fund for New England mortgage relief
Associated Press - December 20, 2007 12:25 PM ET BOSTON (AP) - Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate... (Thu, 20 Dec 2007 17:33:24 GMT)

5 banks create $125 million fund for New England mortgage relief
Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate increases. The goal is to shift borrowers with reasonably... (Thu, 20 Dec 2007 17:55:59 GMT)

Five banks create $125 million fund for New England mortgage relief
Boston (AP, Dec. 20, 2007 12:56 PM ) _ Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate increases. (Thu, 20 Dec 2007 18:14:10 GMT)

Bear Stearns Posts Loss After Mortgage Writedowns (Update4)
Dec. 20 (Bloomberg) -- Bear Stearns Cos., the securities firm that helped trigger the collapse of the subprime market, reported its first-ever loss after writedowns for mortgage holdings and declines in trading and investment banking. (Thu, 20 Dec 2007 18:27:29 GMT)

MBIA details huge mortgage exposure, shares collapse
NEW YORK (Reuters) - MBIA Inc, the world's largest bond insurer, said it had guaranteed $8.1 billion of the riskiest mortgage securities, imperiling its entire net worth and sending its shares plunging 26 percent. (Thu, 20 Dec 2007 18:43:55 GMT)

5 banks create $125 million fund for New England mortgage relief
Associated Press - December 20, 2007 1:55 PM ET BOSTON (AP) - Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate... (Thu, 20 Dec 2007 19:04:23 GMT)

Bear Stearns has bigger-than-expected mortgage writedown
Bear Stearns Cos. said today a bigger-than-expected writedown in its mortgage portfolio caused the nation's fifth-largest U.S. investment bank to post the first loss in its 84-year history. (Thu, 20 Dec 2007 19:11:13 GMT)

5 banks offer mortgage relief
Five big banks, all with branches in The Sun Chronicle area, have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate increases. (Thu, 20 Dec 2007 19:34:39 GMT)

News From 91.3 KUWS WPR Working Poor series: Sub-prime mortgage mess causes problems for housing
Many low-income people are facing harder times at home these days. Chuck Quirmbach reports from Milwaukee. While thousands in Wisconsin wait for subsidized housing, the sub-prime mortgage mess is causing more homeowners to lose their house or pay a lot more to keep it. (Thu, 20 Dec 2007 19:46:53 GMT)

Bhutto campaigns in home province
Bringing her election campaign to her home province, Benazir Bhutto vowed that neither bullets nor bombs could keep her away from the Pakistani people. (Thu, 20 Dec 2007 19:53:54 GMT)

BofA joins in New England mortgage-relief plan
Bank of America Corp. and four other banks have committed a total of $125 million for new loans to help ease the mortgage crisis in New England. (Thu, 20 Dec 2007 20:11:22 GMT)

President Bush Signs H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007
President Bush on Thursday said, "I'm pleased to sign a bill that will help homeowners who are struggling with rising mortgage payments. The Mortgage Forgiveness Debt Relief Act of 2007 will protect families from higher taxes when they refinance their homes. It will help hardworking Americans take steps to avoid foreclosure during a period of uncertainty in the housing market. I want to thank ... (Thu, 20 Dec 2007 20:15:56 GMT)

5 banks create $125 million fund for New England mortgage relief
Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate increases. (Thu, 20 Dec 2007 20:27:12 GMT)

New England: Mortgage Relief Fund Set Up
Five banks have created a $125 million fund to refinance mortgage loans for New England borrowers who are keeping up with monthly payments but face interest rate increases that could eventually put them at risk of losing their homes. (Thu, 20 Dec 2007 21:07:50 GMT)

Bear Stearns Posts First Loss on Mortgage Writedowns (Update5)
Dec. 20 (Bloomberg) -- Bear Stearns Cos., the securities firm that helped trigger the collapse of the subprime market, reported its first-ever loss after writedowns for mortgage holdings and declines in trading and investment banking. (Thu, 20 Dec 2007 21:57:27 GMT)

Banks Create $125M Fund For Mortgage Relief
Five banks are teaming up to create a $125 million mortgage relief fund for New England borrowers. (Thu, 20 Dec 2007 22:17:03 GMT)

Home foreclosures up 67% vs. year ago
LOS ANGELES – U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged nearly 68 percent nationwide compared with the same month a year ago, according to a mortgage research company. (Thu, 20 Dec 2007 22:18:13 GMT)

Mortgage Rates Climb This Week
Mortgage rates edged up for a second straight week and 30-year loans reached their highest level in a month. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week. (Thu, 20 Dec 2007 23:16:47 GMT)

Mortgage rates edge up for second week
Mortgage rates edged up for a second straight week and 30-year loans reached their highest level in a month. (Thu, 20 Dec 2007 23:23:31 GMT)

Mortgage Rates Edge Up for Second Week
Mortgage rates edged up for a second straight week and 30-year loans reached their highest level in a month. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week. (Thu, 20 Dec 2007 23:23:38 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? (Thu, 20 Dec 2007 23:37:16 GMT)

16 Indicted In Mortgage Fraud Scheme
Summit County prosecutors on Thursday announced the indictments of 16 people in a mortgage fraud scheme. (Thu, 20 Dec 2007 23:42:24 GMT)

Mortgage Rates Edge Up for Second Week
Mortgage rates edged up for a second straight week and 30-year loans reached their highest level in a month. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week. That compares with 6.11... (Thu, 20 Dec 2007 23:51:29 GMT)

Mortgage rates edge up for second week
Mortgage rates edged up for a second straight week and 30-year loans reached their highest level in a month. The mortgage company Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week. That compares with 6.11 percent last week and was the highest since averaging 6.20 percent the week of Nov. 21. Just two weeks ago, 30-year rates had dipped to 5.96 ... (Fri, 21 Dec 2007 00:10:58 GMT)

MBIA details huge mortgage exposure, shares collapse
MBIA Inc, the world's largest bond insurer, said it had guaranteed $8.1 billion of the riskiest mortgage securities, imperiling its entire net worth and sending its shares plunging 26 percent. (Fri, 21 Dec 2007 00:44:38 GMT)

Five banks start $125-million mortgage-refinance fund
The New England program will help at-risk borrowers who are not facing foreclosure. (Fri, 21 Dec 2007 00:45:42 GMT)

Regional Fund Created To Offer Mortgage Relief
Five banks have created a $125 million fund to refinance mortgage loans for New England borrowers who are keeping up with monthly payments, but face interest rate increases that could eventually put them at risk of losing their home. (Fri, 21 Dec 2007 02:55:05 GMT)

Midwest leads nation in home loan woes
DETROIT -- Michigan and Ohio share something with Florida and California -- some of the nation's highest rates of foreclosed homes and delinquent mortgages. But the reasons for their woes are as different as their climates. (Fri, 21 Dec 2007 04:02:26 GMT)

Fund to help mortgage crisis
BOSTON — Five banks have created a $125 million fund to refinance mortgage loans for New England borrowers who are keeping up with monthly payments but face interest rate (Fri, 21 Dec 2007 04:04:23 GMT)

Mortgage rates up for second week
Mortgage rates edged up for a second week and 30-year loans reached their highest level in a month. (Fri, 21 Dec 2007 08:43:09 GMT)

Summit County announces 17 indictments in mortgage lending scheme
Summit County officials rolled back part of the national mortgage crisis Thursday with the announcement of 17 indictments stemming from a lending scheme that preyed on hundreds of local homeowners. (Fri, 21 Dec 2007 09:55:18 GMT)

Senate Dems unveil mortgage crisis bill
STATE SENATE Democrats unveiled a bill Thursday that they say would help stem a tide of subprime mortgage foreclosures that's threatening to swamp California's economy, and the nation's. (Fri, 21 Dec 2007 10:52:19 GMT)

Bay Area home sales hit new low
Bay Area home sales fell to the lowest November on record as declines in jumbo-loan financing and fears about the economy seem to keep buyers on the fence, experts said Thursday. (Fri, 21 Dec 2007 11:10:46 GMT)

Senate Democrats unveil mortgage crisis measure Lenders would meet face-to-face with clients to discuss loan ...
OAKLAND — State Senate Democrats unveiled a bill Thursday that they say would help stem a tide of subprime mortgage foreclosures that's threatening to swamp California's economy, and the (Fri, 21 Dec 2007 11:12:30 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 21 Dec 2007 12:06:57 GMT)

FBR Taking $38 Million Mortgage Loss
Financial services firm Friedman, Billings, Ramsey Group Inc. said Friday it will take $38 million in losses in the fourth quarter related to subprime mortgage holdings. (Fri, 21 Dec 2007 13:55:02 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? (Fri, 21 Dec 2007 14:25:54 GMT)

5 banks create $125 million fund for New England mortgage relief
BOSTON (AP) - Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate increases. (Fri, 21 Dec 2007 14:50:10 GMT)

Fannie Mortgage Portfolio $722B in Nov.
Fannie Mae said Friday that its gross mortgage portfolio fell in November to $722 billion from $732.3 billion in October. (Fri, 21 Dec 2007 16:25:29 GMT)

SEC investigating Washington Mutual's handling of mortgage loans, home appraisals; stock falls
The Securities and Exchange Commission is probing how Washington Mutual Inc., the nation's largest savings and loan, handled mortgages that were possibly based on inflated home appraisals. (Fri, 21 Dec 2007 16:52:50 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, 21 Dec 2007 17:10:29 GMT)

Fannie Mae's mortgage portfolio drops again
Mortgage backer says its gross portfolio fell over $10 billion to $722 billion in November. (Fri, 21 Dec 2007 17:10:34 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Fri, 21 Dec 2007 17:18:39 GMT)

SEC investigating WaMu's handling of mortgages, home appraisals
The Securities and Exchange Commission is probing how Washington Mutual Inc., the nation's largest savings and loan, handled mortgages that were possibly based on inflated home appraisals. "We are voluntarily and fully cooperating with the SEC's inquiry as well as the (Office of Thrift Supervision) and look forward to bringing the facts to both the regulators and public," according to a company ... (Fri, 21 Dec 2007 17:19:23 GMT)

Fitch Affirms $1.91B & Downgrades $481.4MM from 5 Soundview Home Equity Loan Trust Subprime
NEW YORK----Fitch Ratings has taken the following rating actions on five Soundview Home Equity Loan Trust asset-backed certificates. Affirmations total $1.91 billion and downgrades total $481.4 million. (Fri, 21 Dec 2007 17:24:00 GMT)

Report: SEC probing WaMu over home loans
The SEC reportedly is investigating how Washington Mutual Inc., the nation's largest savings and loan, handled mortgages that were possibly based on inflated home appraisals. (Fri, 21 Dec 2007 17:30:49 GMT)

16 Indicted In Mortgage Fraud Scheme
Investigators say more than 500 people, many of them elderly, were victimized by a mortgage fraud scheme. (Fri, 21 Dec 2007 17:34:22 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Fri, 21 Dec 2007 17:35:52 GMT)

Fitch Affirms $1.91B & Downgrades $481.4MM from 5 Soundview Home Equity Loan Trust Subprime
Fitch Ratings has taken the following rating actions on five Soundview Home Equity Loan Trust asset-backed (Fri, 21 Dec 2007 17:42:04 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? (Fri, 21 Dec 2007 18:07:03 GMT)

Ex-Bellevue WA mortgage company loan officer sentenced to prison
Associated Press - December 21, 2007 5:55 PM ET SEATTLE (AP) - A former mortgage company loan officer was sentenced in U.S. District Court in Seattle today to 18 months in prison for conspiracy... (Fri, 21 Dec 2007 23:10:59 GMT)

AIB changes mortgage rates
Allied Irish Banks has announced that its standard variable mortgage rate for owner occupiers will increase by 0.15% to 5.25% with effect from January 15, 2008. (Sat, 22 Dec 2007 02:25:25 GMT)

Mortgage losses drive fee boost for borrowers
You know how the auto insurer raises your premium after an accident? Something similar is happening to mortgage fees. They're getting more expensive for a lot of people. (Sat, 22 Dec 2007 03:56:09 GMT)

Morganville man is accused in $2.7M mortgage loan fraud
State authorities said yesterday they rounded up six people and seized bank accounts, expensive cars, boats and property after pulling the plug on a complex mortgage loan scam that raked in $2.7 million. (Sat, 22 Dec 2007 05:48:11 GMT)

FoundationWorks Forms Mortgage Subsidiary, EquityAccess Mortgage, Inc. July 2007
EquityAccess Mortgage will originate low rate, government and conventional mortgage loans for factory-built homes, primarily focusing on existing homeowners. EquityAccess Mortgage will be vertically integrated with the FoundationWorks permanent foundation system which has a unique, proprietary, and cost-effective method to retrofit existing foundation systems. In addition, EquityAccess will ... (Sat, 22 Dec 2007 08:10:10 GMT)

Mortgage rules hinge on steadfast enforcement
The Federal Reserve's proposals this week to address deception and fraud in mortgage lending will all be for naught unless the states, the Fed and other federal agencies tighten their enforcement of the lending rules. (Sat, 22 Dec 2007 08:38:54 GMT)

SEC is probing Washington Mutual savings and loan
The Securities and Exchange Commission is probing how Washington Mutual Inc., the nation's largest savings and loan, handled mortgages that were possibly based on inflated home appraisals. (Sat, 22 Dec 2007 09:06:48 GMT)

Tapped-out family's home is at risk
Fullerton grandparents struggle with their home loan's rising payments. John and Grayce Coffman could lose the Fullerton home they bought in 1977 because they can't keep up with their mortgage's rising costs. (Sat, 22 Dec 2007 10:45:33 GMT)

5 banks create $125 million fund for New England mortgage relief
BOSTON (AP) - Five banks have created a $125 million fund to refinance mortgage loans for New England homeowners facing interest rate increases. (Sat, 22 Dec 2007 14:49:38 GMT)

Lenders' pitches aiming higher
People with solid credit are getting refinancing offers appealing to the same equity-as-ATM inclination that hurt subprime borrowers Despite the mortgage meltdown, the blizzard of advertising for home loans continues. (Sat, 22 Dec 2007 15:53:31 GMT)

Mortgage Meltdown; the Lying, Crying and Fire Sale Buying Begins
By Monica Davis - There is more than meets the eye to the upcoming mortgage meltdown, much of which has its genesis in the deregulation of the savings and loan industry and banking back in the 1980s. (Sat, 22 Dec 2007 16:13:34 GMT)

Wantage man latest to plead guilty in Paterson mortgage scam
NEWARK, N.J. - A former mortgage broker became the latest person to plead guilty in a wide-ranging scam run by a Mahwah real estate mogul. (Sat, 22 Dec 2007 21:02:34 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Sat, 22 Dec 2007 21:43:44 GMT)

Clicking the Way to Mortgage Savings
A Web venture gives borrowers a way to compare what they will probably pay for a mortgage in commissions, points, interest rates and fees. (Sat, 22 Dec 2007 21:53:51 GMT)

Another Man Pleads Guilty In N.J. Mortgage Scam
Another guilty plea in a Paterson mortgage scam. Frank Corallo admitted he forged signatures on mortgages he'd helped falsify. (Sat, 22 Dec 2007 22:01:37 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, 23 Dec 2007 00:21:36 GMT)

Super won't help mortgage woes: report
Drawing on superannuation accounts to make mortgage payments will not help struggling homeowners avoid foreclosures, a new report reveals. "They're raiding the piggy bank for no good purpose," ACT Consumer Law Centre (ACTCLC) director David Tennant said. (Sun, 23 Dec 2007 00:40:21 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, 23 Dec 2007 00:52:41 GMT)

Tax tip: What's deductible with mortgage refinancing
Q. We plan to refinance our adjustable-rate mortgage before it goes up in March. Will we get a larger deduction if we take out additional money, and incur PMI (private mortgage insurance) payments, in order to pay some credit cards? Will the PMI be deductible, too? (Sun, 23 Dec 2007 04:27:56 GMT)

Loan woes limit giving
Jackie Castleberry won't be playing Santa Claus this year. She usually buys her grandchildren, nieces and nephews lots of gifts around the holidays - bicycles, educational games, clothes - but this year she is just struggling to keep her North Las Vegas, Nev., house. The interest rate on her four-bedroom home loan shot up in October and she is $6,000 behind on her payments. She now owes $168,000 ... (Sun, 23 Dec 2007 05:25:36 GMT)

Terry Whitesell mortgage loan officer at CommunityOne Bank
Terry Whitesell recently joined CommunityOne Bank as the bank's new mortgage loan officer for Rowan County. "We are pleased to welcome Terry to the YES! Bank," said Gaines Legare, mortgage sales manager. (Sun, 23 Dec 2007 06:54:05 GMT)

Enforcement of mortgage rules spotty
The Federal Reserve's proposals this week to address deception and fraud in mortgage lending will all be for naught unless the states, the Fed and other federal agencies tighten their enforcement of the lending rules. Lending standards weakened sharply in 2005 and 2006 as home prices soared. Fraud and predatory lending were rampant in the subprime market, which served the weakest borrowers. ... (Sun, 23 Dec 2007 07:01:55 GMT)

Avoid adjustable-rate mortgage shock
If you have an adjustable-rate mortgage, you need to monitor closely what may happen to your rate at the next adjustment. Compare your new payments with those you would qualify for on a fixed-rate loan, and then calculate how long it would take for your monthly savings to make up for closing costs and any prepayment penalties. (Sun, 23 Dec 2007 07:32:21 GMT)

Purpose dictates refinance decision
Question: In your Dec. 16 column, you encouraged questioners to refinance a mortgage before the value of their home went down any further. Do you think it is advisable to tell people they should pull money out of their houses in a declining market? (Sun, 23 Dec 2007 08:01:16 GMT)

Home Remedy: Administration's mortgage-relief plan may not help many Triad homeowners, experts say
When it comes to federal mortgage relief, timing is everything for local homeowners. Behind on your adjustable-rate mortgage payment more than 60 days? Don't bother. Signed up for a two-year ARM before January 2006? Too early. Bought another home as an investment rather than to live in? Don't qualify. Already in the foreclosure pipeline? Out of luck. If the Triad hopes to lessen the potential ... (Sun, 23 Dec 2007 08:15:27 GMT)

Trying To Rope In Refinance Deals
Mortgage Firms’ Come-Ons Now Lure Homeowners To Tap Equity Despite the mortgage meltdown, the blizzard of advertising for home loans continues. (Sun, 23 Dec 2007 08:25:54 GMT)

Borrower beware on a mortgage
Taking a mortgage loan is the largest financial decision many people make in their lifetime. (Sun, 23 Dec 2007 09:43:52 GMT)

Lenders lure some to sketchy refinancing
The mortgage crisis hasn't stopped ads, now pitched to those with good credit. Despite the mortgage meltdown, the blizzard of advertising for home loans continues. (Sun, 23 Dec 2007 09:44:57 GMT)

Guilty plea in mortgage scam
A former mortgage broker became the latest person to plead guilty in a wide-ranging scam run by a Mahwah real estate mogul. (Sun, 23 Dec 2007 09:49:01 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, 23 Dec 2007 10:27:52 GMT)

Mortgage plan won't alleviate most ills
How timely that just as President Bush was announcing a deal to help homeowners struggling with their mortgage payments, new data showed that foreclosure starts set a record. (Sun, 23 Dec 2007 11:10:51 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, 23 Dec 2007 11:23:01 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, 23 Dec 2007 11:23:11 GMT)

Clicking the Way to Mortgage Savings
A Web venture gives borrowers a way to compare what they will probably pay for a mortgage in commissions, points, interest rates and fees. (Sun, 23 Dec 2007 12:00:00 GMT)

Surf your way to mortgage savings
Last week, the Federal Reserve got around to tightening mortgage lending standards, hoping to eliminate some of the practices that have made borrowing to buy a home so confounding and costly. (Sun, 23 Dec 2007 12:09:55 GMT)

Mortgage rules need enforcer
WASHINGTON -- The Federal Reserve's proposals last week to address deception and fraud in mortgage lending will all be for naught unless the states, the Fed and other federal agencies tighten their enforcement of the lending rules. (Sun, 23 Dec 2007 12:10:55 GMT)

Your home isn't an ATM
Don't give in to the temptation to refinance just because you need some cash. Despite the mortgage meltdown, the blizzard of advertising for home loans continues. (Sun, 23 Dec 2007 12:54:27 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, 23 Dec 2007 13:07:54 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, 23 Dec 2007 15:22:41 GMT)

Gov't Tries to Contain Mortgage Crisis
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to... (Sun, 23 Dec 2007 15:50:03 GMT)

Plenty of Mortgage Blame to Go Around
Borrowers, mortgage lenders, ratings agencies and investors all fell down on the job. (Sun, 23 Dec 2007 16:45:49 GMT)

Analysis: Washington scrambles to keep mortgage crisis from pushing recession
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Sun, 23 Dec 2007 17:13:14 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, 23 Dec 2007 17:43:54 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, 23 Dec 2007 17:52:41 GMT)

Super won't help mortgage woes: report
Drawing on superannuation accounts to make mortgage payments will not help struggling homeowners avoid foreclosures, a new report reveals. "They're raiding the piggy bank for no good purpose," ACT Consumer Law Centre (ACTCLC) director David Tennant said. (Sun, 23 Dec 2007 18:36:08 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, 23 Dec 2007 18:55:32 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, 23 Dec 2007 18:55:42 GMT)

The Home Buying Process: Step by Step
(ARA) - Buying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. (Sun, 23 Dec 2007 18:56:42 GMT)

Gov't Tries to Contain Mortgage Crisis
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. (Sun, 23 Dec 2007 19:08:00 GMT)

Gov't Tries to Contain Mortgage Crisis
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Sun, 23 Dec 2007 19:08:52 GMT)

Gov't tries to contain mortgage crisis
By MARTIN CRUTSINGER After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. One former Treasury secretary advocates temporary tax cuts and emergency spending on the ... (Sun, 23 Dec 2007 22:57:40 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Mon, 24 Dec 2007 00:07:51 GMT)

White House, Congress, Fed scrambling to deal with mortgage crisis
WASHINGTON - AFTER a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the US into recession during an election year. (Mon, 24 Dec 2007 00:36:56 GMT)

Homeowners with forgiven loan debt get timely tax break
Families who lost their homes to the foreclosure crisis this year will have at least one reason for cheer this holiday season: They won't have to worry about a big tax bill. (Mon, 24 Dec 2007 02:36:27 GMT)

Mortgage Crisis Hits Home, Especially Around Holidays
Casualties of the subprime mortgage debacle, a New Jersey family is likely to lose their home next week when it is expected to be sold at public auction. (Mon, 24 Dec 2007 03:50:07 GMT)

Sub-prime mortgage crisis
You may have heard of the sub-prime mortgage crisis in the United States and figured this has nothing to do with you. You may be correct but it is a useful lesson in the interconnectivity of macro economic events that could ultimately have an impact on us. (Mon, 24 Dec 2007 04:11:56 GMT)

US mortgage crisis unlikely to have major UAE impact
Dubai: The UAE banking system has no significant exposure to the US mortgage crisis that has caused a global credit squeeze, ratings agency Moody's said. (Mon, 24 Dec 2007 04:31:34 GMT)

Hawkins County couple lost mortgage payment in fire
Lloyd and Patsy Beasley stand in front of the remains of an old house that Patsy inherited from her great uncle. When the house burned, Lloyd’s coat, containing the mortgage payment, was inside. Photo by Jeff Bobo. (Mon, 24 Dec 2007 04:58:44 GMT)

Legal field gears up to deal with mortgage meltdown
Some local law firms are gearing up for legal fallout related to the subprime mortgage meltdown. (Mon, 24 Dec 2007 06:22:43 GMT)

Washington in a sweat over mortgage ills
After a slow and stumbling start, Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Mon, 24 Dec 2007 06:54:37 GMT)

Even in a credit crunch, temptation to refinance is strong
Lenders still make pitches, and homeowners extract cash Despite the mortgage meltdown, the blizzard of advertising for home loans continues. (Mon, 24 Dec 2007 08:23:19 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, 24 Dec 2007 09:17:02 GMT)

Mortgage industry faces more cuts
As if it has not already been stressful enough for the nation's mortgage banking workers this year, some Wall Street experts are calling for more job cuts in 2008. And that's not something anyone wants to hear -- especially at the holidays. (Mon, 24 Dec 2007 09:28:37 GMT)

Holiday Spirit: 211/First Call For Help found mortgage solution
JOSHUA GUNTER %%endhead%%THE PLAIN DEALERDarlene Brown, surrounded by her family, called United Way's 211/First Call for Help when illness kept her from working and caused financial problems. The hot line referred her to an agency that helped her with her mortgage. (Mon, 24 Dec 2007 09:49:05 GMT)

Attorney General sues mortgage companies
Attorney General Lisa Madigan filed three lawsuits Friday against mortgage rescue companies for allegedly violating the Illinois Mortgage Rescue Fraud Act, which she initiated in 2006, and the Consumer Fraud and Deceptive Business Practices Act. (Mon, 24 Dec 2007 10:18:27 GMT)

AHM asks ok to shred pesky mortgage files
The lawyers and consultants working to liquidate the bankrupt Melville-based lender American Home Mortgage think nothing of paying out $9 million in bonuses to executives, under a motion approved last month by U.S. Bankruptcy Judge Christopher Sontchi. (Mon, 24 Dec 2007 10:43:00 GMT)

For many, mortgage relief mired in red tape
Dec. 24 (UNION-TRIBUNE): Homeowners desperately trying to save their dwellings from foreclosure in the subprime lending crisis say they are being led to a series of wrong turns, dead ends and blind alleys as they seek relief from lenders. (Mon, 24 Dec 2007 10:45:49 GMT)

Redknapp Targets Loan Signings
Portsmouth manager Harry Redknapp will be looking to bring in a number of new players on loan next month with the African Cup of Nations set to deplete his squad. (Mon, 24 Dec 2007 10:46:38 GMT)

Faddy is not leaving on loan
CELTIC will have to stump up at least £3m to get James McFadden at Parkhead. Everton have thrown out a request by the SPL leaders to take the Scots star on loan. (Mon, 24 Dec 2007 10:58:00 GMT)

Washington should raise home-loan cap
If policymakers truly want to help reignite the real estate market and help homebuyers, they should do one thing – and soon: raise the limit on so-called conforming loans to $650,000. (Mon, 24 Dec 2007 11:15:25 GMT)

Washington Rushing To Deal With Mortgage Crisis
Washington — After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into (Mon, 24 Dec 2007 11:17:46 GMT)

Gov't Tries To Contain Mortgage Crisis
WASHINGTON -- After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. (Mon, 24 Dec 2007 11:31:17 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. (Mon, 24 Dec 2007 11:51:46 GMT)

Mortgage mess may become election year showdown
WASHINGTON – After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Mon, 24 Dec 2007 12:01:17 GMT)

Colorado 2031: Mortgage Meltdown
FOX 31's Libby Weaver sits down with several experts to discuss what's behind the nationwide mortgage crises which -many believe- could push ... Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages... (Mon, 24 Dec 2007 13:00:16 GMT)

Speed quits Bolton for Blades loan deal - and it could become a permament switch
Bolton midfielder Gary Speed is set to join Coca-Cola Championship side Sheffield United on loan on January 1 with a view to a permanent deal (Mon, 24 Dec 2007 13:00:17 GMT)

Analysis: Mortgage crisis has white House, Congress, Fed scrambling
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Mon, 24 Dec 2007 15:12:26 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Mon, 24 Dec 2007 16:17:16 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Mon, 24 Dec 2007 16:18:41 GMT)

Mortgage mess has government scrambling
A look at the moves needed to ward off recession and foreclosures in 2008. WASHINGTON (AP) -- After a slow and stumbling start, Washington is scrambling to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. (Mon, 24 Dec 2007 16:25:44 GMT)

U.S. mortgage crisis may be replaced with credit card debt in 2008
The U.S. sub-prime mortgage crisis of 2007 may be replaced by the credit card crisis in 2008, as Americans have been falling behind in paying their bills, with credit defaults climbing by double digits. (Mon, 24 Dec 2007 16:34:27 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, 24 Dec 2007 16:36:45 GMT)

Bank, savings and loan to merge
One of the oldest financial institutions in Shreveport and one of the newest are merging their operations. Home Federal Savings and Loan, which has been in business since 1924, is merging with First Louisiana Bank, which was founded in 1999. The bank will retain the name First Louisiana Bank. The (Mon, 24 Dec 2007 18:52:26 GMT)

White House, Congress, Fed scramble to deal with mortgage crisis
WASHINGTON — After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Mon, 24 Dec 2007 19:00:33 GMT)

Analysis: White House Congress Fed scrambling to deal with mortgage crisis
WASHINGTON (AP) — After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. (Mon, 24 Dec 2007 19:52:33 GMT)

Paulson: agreement near on effort to freeze mortgage rates
AP Economics Writer WASHINGTON - Treasury Secretary Henry Paulson said Monday he is confident there will soon be an agreement to help thousands of homeowners avoid mortgage defaults by temporarily freezing their interest rates. (Mon, 24 Dec 2007 20:36:31 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Mon, 24 Dec 2007 20:40:19 GMT)

The Home Buying Process: Step by Step
(ARA) - Buying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. (Mon, 24 Dec 2007 20:40:59 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, 24 Dec 2007 22:22:15 GMT)

Queens Shopping Center Gets $350M Construction Loan
Alexander's Inc., Paramus, N.J., has closed on $350 million in construction financing for its shopping center (pictured) in the Rego Park neighborhood of Queens, New York City. Situated at the Long Island Expressway between Junction Boulevard and 97th Street, the 600,000-square-foot, four-level retail center will be anchored by a Century 21 department store, a Home Depot and a Kohl’s. It’s ... (Mon, 24 Dec 2007 23:07:53 GMT)

Officials Say They Are Falling Behind on Mortgage Fraud Cases
Reports of suspected mortgage fraud have doubled since 2005 and government agencies that investigate and prosecute such cases say they cannot keep up. (Tue, 25 Dec 2007 00:51:25 GMT)

Mortgage delinquency ratio drops to record low in HK
Mortgage delinquency ratio in Hong Kong dropped to 0.11 percent and rescheduled loan ratio fell to 0.2 percent, both record lows, driving the combined ratio lower to 0.32 percent, according to a report released Monday. The Hong Kong ... (Tue, 25 Dec 2007 01:40:00 GMT)

Purpose dictates refinance decision
Question: In your Dec. 16 column, you encouraged questioners to refinance a mortgage before the value of their home went down any further. Do you think it is advisable to tell people they should pull money out of their houses in a declining market? (Tue, 25 Dec 2007 04:01:04 GMT)

Fees were another cash cow in subprime mortgage deals
Expansion of the subprime derivatives market by New York bankers created a new way to bet against the U.S. housing market and Fed demand for mortgage-backed securities. (Tue, 25 Dec 2007 04:26:59 GMT)

PNC shuts third-party home-equity loan program
PNC Financial Services Group, citing the credit crunch currently roiling the financial services industry, shut down a program last week that offers home-equity loans via third-party mortgage ... (Tue, 25 Dec 2007 05:27:37 GMT)

Private Sector: The best way to protect home buyers is to license loan originators
With all of the recent headlines about subprime loans and foreclosures, consumers in Pennsylvania likely are wondering what their state and federal government and the mortgage industry are doing ... (Tue, 25 Dec 2007 05:27:47 GMT)

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