Mortgage News Dec 2007

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Lower Valley Fire Leaves Family Without A Home
EL PASO, TEXAS -- A Lower Valley family lost their home to fire and smoke the night before Christmas. Firefighters said when they arrived on the scene they could see fire and smoke coming out of the house. (Tue, 25 Dec 2007 06:04:42 GMT)

Seeking a lesson in home buying
Q. I have student loans from graduate school, and my husband and I have started saving money in order to buy a home. I realize my debt will be considered when we apply for a mortgage. Is it better to pay off as much of the student loan as possible or to try to save as much as we can toward a down payment? Mortgage people have given me different answers. (Tue, 25 Dec 2007 06:10:20 GMT)

Bahrain drafting new mortgage regulations
Bahrain drafting new mortgage regulations (Tue, 25 Dec 2007 06:14:54 GMT)

Officials say they are buried in mortgage fraud cases
The number of mortgage fraud cases has grown so fast that government agencies that investigate and prosecute them cannot keep up, lenders and law enforcement officials have said. (Tue, 25 Dec 2007 06:41:39 GMT)

Mortgage company settles case
Ameriquest pays New Yorkers $18 million toward deception claims. Ameriquest Mortgage Co., once the biggest home-mortgage lender to people with credit problems, paid New Yorkers more than $18 million as part of a previously disclosed nationwide settlement of a predatory lending case. (Tue, 25 Dec 2007 08:24:58 GMT)

Spaces and Places: Home builders' solution for state's housing slump
As head of the Northern California Home Builders Association, Joseph Perkins has a plan to jump-start the state's ailing housing market, but he'll need federal action to succeed. (Tue, 25 Dec 2007 09:48:39 GMT)

Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Tue, 25 Dec 2007 10:08:32 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. (Tue, 25 Dec 2007 10:23:51 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Tue, 25 Dec 2007 10:37:51 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, 25 Dec 2007 10:38:01 GMT)

How minor mistakes can upend a mortgage
Having buyer's remorse about a mortgage? It can pay to scrutinize the fine print. Amid the housing-market turmoil, homeowners have been increasingly turning to a little-known process for renegotiating or exiting a loan. (Tue, 25 Dec 2007 11:09:24 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 25 Dec 2007 11:37:41 GMT)

White House, Congress, Fed are scrambling to deal with mortgage crisis (Analysis)
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. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Tue, 25 Dec 2007 11:40:27 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, 25 Dec 2007 13:07:52 GMT)

Mortgage fraud outpacing investigations
The number of reported mortgage fraud cases has climbed so quickly that U.S. federal investigators and prosecutors say they can't keep pace. Since 2005, reports of suspected mortgage fraud doubled. So far this year, banks filed 47,717 reports, compared wi... (Tue, 25 Dec 2007 14:54:14 GMT)

Mortgage fraud outpacing investigations
The number of reported mortgage fraud cases has climbed so quickly that U.S. federal investigators and prosecutors say they can't keep pace. (Tue, 25 Dec 2007 14:55:50 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 16:48:26 GMT)

Pre Christmas Fire Guts Deland Home
DeLAND, Fla. -- A Christmas Eve fire has destroyed a home in Deland. Firefighters were called to the scene just after 9:00 p.m. last night. An official with the fire department says the home's resident had left about half an hour before and that the home was in the process of being remodeled. (Tue, 25 Dec 2007 18:02:00 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, 25 Dec 2007 19:07:41 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. (Tue, 25 Dec 2007 19:07:51 GMT)

96-Year-Old Woman Killed In Mobile Home Fire
An elderly woman died in a mobile home fire in Lacey on Friday. (Tue, 25 Dec 2007 20:16:49 GMT)

Illegal Immigrants Good Mortgage Risk
Some banks allow illegal immigrants to obtain a home mortgage even if they don't have a Social Security number. While the borrower's citizenship status may be undocumented, their ability to pay is thoroughly checked out. Surprisingly, illegal immigrants are often a good risk. (Tue, 25 Dec 2007 20:39:41 GMT)

Officials Falling Behind on Mortgage Fraud Cases
Reports of suspected mortgage fraud have doubled since 2005, and government agencies say they cannot keep up. . (Tue, 25 Dec 2007 20:48:27 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. (Wed, 26 Dec 2007 00:21:31 GMT)

Deal reached with mortgage industry for five-year rate freeze
WASHINGTON (AP) - Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months. (Wed, 26 Dec 2007 00:25:51 GMT)

Mortgage Hotline Rings Off the Hook
Last week, the Bush administration unveiled initiatives designed to battle the worsening mortgage crisis, including a voluntary interest rate freeze for subprime mortgages. (Wed, 26 Dec 2007 01:31:45 GMT)

SEC Requires Beazer to Disclose Mortgage Details
The Securities and Exchange Commission (SEC) has sided with the Laborers' International Union of North America (LIUNA) in forcing Beazer Homes to disclose more information about its mortgage investments. (Wed, 26 Dec 2007 02:11:38 GMT)

Family's Home Burns On Christmas
Christmas was anything but merry for a family whose home caught fire. (Wed, 26 Dec 2007 03:37:53 GMT)

Fire Rips Through Trailer Home
SAN ANTONIO -- An afternoon fire – likely caused by a dirty chimney – destroyed a trailer home in east Bexar County Tuesday afternoon. A neighbor spotted smoke coming from the trailer on Farmview Drive and rushed over to help put out the flames. (Wed, 26 Dec 2007 03:56:27 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. There is a strong feeling, though, that the government will need to do more to avert a financial disaster. (Wed, 26 Dec 2007 04:46:07 GMT)

Officials Falling Behind on Mortgage Fraud Cases
Reports of suspected mortgage fraud have doubled since 2005, and government agencies say they cannot keep up. . (Wed, 26 Dec 2007 04:49:26 GMT)

Mortgage meltdown tops Missouri business news this year
KANSAS CITY, Mo. (AP) -- The nationwide mortgage meltdown spurred some of the state's biggest news stories this year, affecting homeowners and big corporations alike. (Wed, 26 Dec 2007 05:30:57 GMT)

Mortgage crisis tops Mo. business news
KANSAS CITY, Mo. -- The nationwide mortgage meltdown spurred some of the state's biggest news stories this year, affecting homeowners and big corporations alike. H&R Block Inc., best known for... (Wed, 26 Dec 2007 06:06:02 GMT)

Deal reached with mortgage industry for five-year rate freeze
WASHINGTON (AP) - Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months. (Wed, 26 Dec 2007 06:55:12 GMT)

Mortgage adviser Brumley honored
Dustin Brumley, a licensed mortgage adviser with Neighborhood Mortgage, was named Rookie of the Year at the annual company holiday party. (Wed, 26 Dec 2007 08:03:12 GMT)

Bold idea: See if loan seeker can afford it
There's unintended dark humor embedded in the Federal Reserve's latest proposal to tighten the rules on home mortgages. (Wed, 26 Dec 2007 09:36:56 GMT)

Subprime mortgage crisis crimps valley, state economies
Statistics and factoids aside, here's the scariest thing about the subprime mortgage crisis of 2007: Nobody knows for sure just how bad it could get. (Wed, 26 Dec 2007 09:55:27 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Wed, 26 Dec 2007 09:58:54 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. (Wed, 26 Dec 2007 11:07:41 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? (Wed, 26 Dec 2007 11:08:10 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Wed, 26 Dec 2007 11:36:57 GMT)

High-rolling banker lands lendees in hot water
When Daniel Sadek was $6,000 short of covering the payroll for his new subprime mortgage company, Quick Loan Funding Corp., he flew to Las Vegas and put a $5,000 chip on the blackjack table. (Wed, 26 Dec 2007 11:51:09 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. (Wed, 26 Dec 2007 11:51:35 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. (Wed, 26 Dec 2007 11:52:51 GMT)

Fire Destroys Steubenville Home
A fire destroys a Steubenville home on Christmas day. (Wed, 26 Dec 2007 12:24:33 GMT)

Chimney Fire Forces Family From Home
Five family members were inside the house when they saw smoke. Firefighters said they don't know yet what sparked the fire. They said there's at least $20,000 worth of damage to the home. (Wed, 26 Dec 2007 12:34:44 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Wed, 26 Dec 2007 12:51:35 GMT)

Webster Chosen as a Lender for New Mortgage Program Offered by Connecticut Housing Finance Authority
Webster Bank, National Association, a subsidiary of Webster Financial Corporation , Webster Bank, a wholly-owned subsidiary of Webster Financial Corporation , has been selected by Connecticut Housing Finance Authority to be a lender in a new mortgage refinancing assistance program to help low- and moderate-income borrowers who took out subprime, adjustable-rate loans to purchase their first home. (Wed, 26 Dec 2007 13:00:00 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Wed, 26 Dec 2007 13:37:42 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 26 Dec 2007 14:55:22 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. (Wed, 26 Dec 2007 14:56:12 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, 26 Dec 2007 15:21:55 GMT)

Mortgage woes yield checks for many New Yorkers
The fallout from the national subprime mortgage lending practices could see more than 13,000 New York residents receiving a payment check from Ameriquest Mortgage Co. and one of its subsidiaries. (Wed, 26 Dec 2007 15:27:12 GMT)

Survey finds mortgage crisis is hurting other sectors
A survey released Wednesday finds that fallout from the mortgage sector is spilling over into the broader economy, impacting companies across industries and their ability to collect payments. (Wed, 26 Dec 2007 16:06:28 GMT)

Jane Wells: Mortgage Crisis Puts Friendships To The Test
A friend in need is a friend indeed. And friendships across America are being tested during this housing crisis. There is a way some friends are helping those facing foreclosure. They are using their self-directed IRAs to buy those homes from the bank and then leasing them back to their friends until they can get on their feet and afford a new mortgage. (Wed, 26 Dec 2007 16:13:33 GMT)

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. (Wed, 26 Dec 2007 16:37:45 GMT)

Jackson Steps Up To Mortgage Crisis
The Rev. Jesse Jackson discusses his plans to help those caught in the nation's mortgage crisis. (Wed, 26 Dec 2007 16:48:42 GMT)

Washington 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. 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 ... (Wed, 26 Dec 2007 17:01:25 GMT)

Home Prices Post Biggest Dive In Years
Home prices post their biggest monthly decline since April of 1991, according to the Standard & Poor's/Case-Shiller. (Wed, 26 Dec 2007 17:42:03 GMT)

Sub-prime Mortgage Crisis Extends Well Beyond U.S. Shores
With news of lending giant UBS taking a $10-billion hit as a result of the U.S. sub-prime mortgage meltdown hanging in the air earlier this month, the National Urban League joined a coalition of civil rights groups, labor unions and housing activists on Wall Street to trumpet the cause of millions of Americans struggling with troubling adjustable-rate, high interest and/or high-cost sub-prime ... (Wed, 26 Dec 2007 17:45:55 GMT)

Charlotte One Of Three Cities Where Home Values Are Up
CHARLOTTE -- There are only three places in the country where homes prices are rising, and Charlotte is at the top of that very short list. A national survey released Wednesday found that home prices in the Charlotte metropolitan area rose by 4.3 percent compared with the same month last year. (Wed, 26 Dec 2007 18:23:19 GMT)

Centereach nurse nearly has her home back
While she's been home for the holidays, Janet Beck must secure a new loan before 3 Alden Lane officially becomes her residence again. (Wed, 26 Dec 2007 19:15:03 GMT)

Class-Action Mortgage Broker Suit Stalls Before It Starts
A class-action lawsuit will not happen against mortgage lenders caught up in the bankruptcy of a Susquehanna Valley mortgage broker. (Wed, 26 Dec 2007 19:18:06 GMT)

Long Beach Mortgage Loan Trust, series 2004-5 --Class A-1,A-4 affirmed at AAA ;
26/12/2007 20:03:00 Business Wire Fitch Ratings has taken the following rating actions on the Long Beach RMBS issues listed below: Long Beach Mortgage Loan Trust, series 2002-2 Group 1 --Class I-A affirmed at AAA ; --Class I-M2 affirmed at BB ; --Class I-M3 remains at C/DR3 ; --Class I-M-4A remains at C/DR6 ; --Class I-M-4B remains at C/DR6 . (Wed, 26 Dec 2007 20:19:51 GMT)

3-Year-Old Drowns At Vacation Home
A 3-year-old visiting Kissimmee drowns after he apparently falls into a pool at a vacation home, according to Osceola County sheriff's deputies. (Wed, 26 Dec 2007 20:37:58 GMT)

Market Spotlight: Home-Equity Lenders
Home-equity loans -- which for five years were a crucial pillar of consumer credit -- have become one of the biggest problems for U.S. banks this year. (Wed, 26 Dec 2007 20:51:28 GMT)

Survey: Mortgage woes have major economic impact
A survey has found that fallout from the mortgage sector is spilling over into the broader economy, impacting companies across industries and their ability to collect payments. (ORCC) (Wed, 26 Dec 2007 21:11:57 GMT)

Deal reached with mortgage industry for five-year rate freeze
WASHINGTON (AP) - Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months. (Wed, 26 Dec 2007 21:55:57 GMT)

American Home to Sell Mtge Loan Pools
American Home Mortgage Investment Corp. wants bankruptcy court permission to sell pools of mortgages in which borrowers are behind in their payments and owe $164 million in principal on the loans. (Wed, 26 Dec 2007 22:36:53 GMT)

Fitch may cut ratings on some insured mortgage bonds
NEW YORK, Dec 26 - Fitch Ratings on Wednesday said it may cut its ratings on certain residential mortgage-backed securities insured by MBIA Inc, Ambac Assurance Corp, FGIC Corporation and Security Capital Assurance. (Wed, 26 Dec 2007 22:38:15 GMT)

Subprime Crisis Hits Holidays
The subprime mortgage crisis is affecting people across the country, in all walks of life. This week we have several stories of people at risk of losing their homes because they can't keep up with rising mortgage rates. (Wed, 26 Dec 2007 23:17:45 GMT)

In Biggest Drop Since 1991, Home Prices Suffer 6.7 Percent Slide
U.S. home prices fell in October for the 10th consecutive month, posting their largest monthly drop since early 1991. The record drop of 6.7 percent also marked the 23rd consecutive month in which price increases either slowed or declined, according to a report. (Wed, 26 Dec 2007 23:30:36 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. (Thu, 27 Dec 2007 00:06:35 GMT)

Home Invasion Suspect Identified
A home invasion robbery suspect shot and killed earlier this month has been identified by the coroner's office. (Thu, 27 Dec 2007 01:01:30 GMT)

Home prices see record drops in Oct.
Home prices in 11 large metro areas posted record declines in October, according to data released Wednesday, more evidence that 2007 was one of the worst real estate markets since the year the United States entered World War II. (Thu, 27 Dec 2007 03:32:38 GMT)

New loan incentives unlikely to affect SIU
CARBONDALE - Although Southern Illinois University officials have not seen a final set of rules, it is unlikely that financial aid students will be able to participate in a new discounted loan program aimed at keeping Illinois college graduates in the state. (Thu, 27 Dec 2007 03:39:01 GMT)

Loan recovery goons? No relief for borrowers
The draft guidelines on loan recovery do little to protect borrowers' interests. (Thu, 27 Dec 2007 05:49:09 GMT)

Atlantic Assurance Walks Away with Metrolina Entrepreneurial Council's Trailblazer Award
CHARLOTTE — Being first in its field paid off again Thursday for Atlantic Assurance, a 7-1/2-year-old technology company that helped revolutionize information products for home equity and mortgage refinancing lenders, when it was named the winner of the 2002 Trailblazer Award from the Metrolina Entrepreneurial Council (MEC). (Thu, 27 Dec 2007 07:02:44 GMT)

Mortgage probes face big hurdles
The nation's largest banks are losing billions of dollars from the mortgage debacle. But will pain from bad housing bets be compounded by government investigations? (Thu, 27 Dec 2007 07:15:57 GMT)

Newly Launched Mortgage Relief Formula Helps Homeowners Stop Foreclosure, Lower Payments Without Getting New ...
More homeowners are turning to the newly launched Mortgage Relief Formula for do-it-yourself secrets of stopping foreclosure and getting out of crushing mortgage debt. New Mortgage Relief Formula home study course reveals secrets of how to get mortgage lenders to lower their payments without refinancing. Homeowners learn how to sell their own house in days, without a broker, and how to sell when ... (Thu, 27 Dec 2007 08:10:42 GMT)

New state law targets fraud in home lending
Brokers and loan officers must register, undergo a criminal background check and take courses (Thu, 27 Dec 2007 08:46:37 GMT)

Mortgage approvals near record low in November
Mortgage approvals in November steadied just above the record low hit in October -- but were still more than 40 percent down from a year earlier, British Bankers' Association data showed on Thursday. (Thu, 27 Dec 2007 10:56:00 GMT)

Best mortgage moves to make in 2008
What to do about your mortgage in the year ahead. (Thu, 27 Dec 2007 11:00:00 GMT)

Webster to serve as lender for new mortgage program by CHFA
Webster Bank, National Association, a subsidiary of Webster Financial Corporation, has been selected by Connecticut Housing Finance Authority to be a lender in a new mortgage refinancing assistance program to help low- and moderate-income borrowers who took out sub-prime, adjustable-rate loans to purchase their first home. (Thu, 27 Dec 2007 11:05:39 GMT)

New loan incentives unlikely to affect SIU
CARBONDALE - Although Southern Illinois University officials have not seen a final set of rules, it is unlikely that financial aid students will be able to participate in a new discounted loan program aimed at keeping Illinois college graduates in the state. (Thu, 27 Dec 2007 11:09:01 GMT)

Mortgage approvals near record low
LONDON (Reuters) - Mortgage approvals in November steadied just above the record low hit in October -- but were still more than 40 percent down from a year earlier, British Bankers' Association data shows. (Thu, 27 Dec 2007 11:10:16 GMT)

November mortgage approvals down 40%
The housing market remained in the doldrums in November, with mortgage approvals more than 40 per cent below their level the previous year, the British Bankers Association said on Thursday. (Thu, 27 Dec 2007 11:55:13 GMT)

Ahead of the Bell: Mortgage Applications
Home-loan data released Thursday will show whether activity continued to slow, a week after new mortgages plummeted by nearly 20 percent. (Thu, 27 Dec 2007 12:00:21 GMT)

U.K. November Mortgage Approvals Fall 44% on Year (Update1)
Dec. 27 (Bloomberg) -- U.K. mortgage approvals dropped 44 percent in the year through November as house hunters put off purchases on concern that home values have further to fall, a British Bankers' Association report showed. (Thu, 27 Dec 2007 12:05:24 GMT)

U.K. November Mortgage Approvals Fall 44% on Year (Update2)
Dec. 27 (Bloomberg) -- U.K. mortgage approvals dropped 44 percent in the year through November as higher borrowing costs and concern that home prices have further to fall deterred buyers, a British Bankers' Association report showed. (Thu, 27 Dec 2007 12:20:02 GMT)

Fewer mortgage applications filed last week: MBA
CHICAGO (MarketWatch) -- The volume of mortgage applications filed in the week ended Dec. 21 dropped 7.6% compared with the previous week, even as mortgage interest rates decreased, according to the latest survey from the Mortgage Bankers Association. (Thu, 27 Dec 2007 12:21:30 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Thu, 27 Dec 2007 12:21:38 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, 27 Dec 2007 12:21:48 GMT)

Mortgage applications fall to lowest in a year
U.S. mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said on Thursday. (Thu, 27 Dec 2007 12:29:02 GMT)

Mortgage Application Volume Tumbles
Mortgage application volume dropped 7.6 percent during the week ending Dec. 21, despite a drop in interest rates, according to the Mortgage Bankers Association's weekly application survey. (Thu, 27 Dec 2007 12:29:07 GMT)

Mortgage approvals stay weak
The number of mortgage approvals at UK banks is now steady, but remains low, bankers say. (Thu, 27 Dec 2007 12:46:49 GMT)

U.S. MBA's Mortgage Applications Index Fell 7.6% Last Week
Dec. 27 (Bloomberg) -- Mortgage applications in the U.S. dropped last week to the lowest level of the year as demand to buy homes and refinance loans fell. (Thu, 27 Dec 2007 12:57:21 GMT)

Mortgage applications tumble
Volume collapses 7.6 percent in weekly application survey, despite interest rate cuts. (Thu, 27 Dec 2007 13:10:34 GMT)

Home Prices See Record Drops in October
Home prices in 11 large metro areas posted record declines. (Thu, 27 Dec 2007 13:13:32 GMT)

U.K. November Mortgage Approvals Fall 44% on Year (Update3)
Dec. 27 (Bloomberg) -- U.K. mortgage approvals dropped 44 percent in November from a year earlier as higher borrowing costs and concern that home prices have further to fall deterred buyers, a British Bankers' Association report showed. (Thu, 27 Dec 2007 14:04:42 GMT)

Mortgage applications fall to lowest in a year
U.S. mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said on Thursday. (Thu, 27 Dec 2007 15:35:39 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. (Thu, 27 Dec 2007 15:54:31 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Thu, 27 Dec 2007 15:55:56 GMT)

U.S. mortgage rates take a holiday-weak breather
Mortgage rates stayed flat or moved up slightly this week as bond yields rose. (Thu, 27 Dec 2007 16:06:40 GMT)

Some mortgage rates inch higher
Some mortgage rates rose along with bond rates this week as reports of stronger consumer spending in November were tempered by disappointing readings of other economic measures, Freddie Mac reported Thursday. (Thu, 27 Dec 2007 16:10:34 GMT)

Mortgage rates inch up
The U.S. housing market saw mortgage rates inch up this week as a report showed home prices in 10 major U.S. cities continued to decline. (Thu, 27 Dec 2007 16:10:40 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, 27 Dec 2007 17:43:29 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, 27 Dec 2007 17:44:30 GMT)

U.S. mortgage applications fall to lowest level of 2007
WASHINGTON – Mortgage applications nationwide fell last week to the lowest level this year, as both purchase and refinance applications declined, the Mortgage Bankers Association reported today. (Thu, 27 Dec 2007 19:51:58 GMT)

Mortgage demand dips to lowest in 2007 even as rates fall
Mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said Thursday. (Thu, 27 Dec 2007 20:41:34 GMT)

Slideshow: Bhutto Assassinated In Suicide Attack
Check out articles from experts and mortgage calculators to help you decide if refinancing your mortgage is the right move. You can also complete a simple, secure online request and get loan offers online. (Thu, 27 Dec 2007 21:41:10 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for Fourth Quarter 2007
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco's Board of Directors has declared a dividend for the fourth quarter of 2007, to be determined in accordance with the Bank's Retained Earnings and Dividend Policy. (Thu, 27 Dec 2007 22:16:00 GMT)

Nevada Home Market Banks on Casino Spurt
Mortgage-loan officer Alon Natanel recently got rid of his convertible BMW for a more affordable SUV. Natanel said the new vehicle better suits him now that he's a father -- not least because of what the slumping housing market has done to his income, which fell from six figures to four. (Thu, 27 Dec 2007 22:48:42 GMT)

Federal Home Loan Bank of Indianapolis Offers Funding to Help Lenders Relieve Threat of Foreclosure
INDIANAPOLIS, Dec. 27, 2007 -- Milton, J. Miller, President & CEO of the Federal Home Loan Bank of Indianapolis , has announced a new $100 million lending initiative, HomeRetain, to help FHLBI financial institution members assist families facing foreclosure. (Thu, 27 Dec 2007 23:00:00 GMT)

Chinese loan quotas help spur fall
Asian stocks dropped Thursday for the first time in five days, led by banks, on concern falling U.S. home prices will lead to more mortgage-related losses and after a report that China set quotas for new loans. (Thu, 27 Dec 2007 23:02:52 GMT)

Lender Pretenders—Watch Out for Mortgage Predators
Rochester, N.Y. - If you have a mortgage you could fall victim to predatory lenders as a local couple almost did. (Thu, 27 Dec 2007 23:43:00 GMT)

RAMS seeks boost through refinancing
RAMS Home Loans Group Ltd says it has extended $750 million of debt facilities, as it continues to seek ways to refinance its commercial paper obligations after falling victim to the US sub-prime mortgage crisis. (Fri, 28 Dec 2007 00:10:28 GMT)

Rams Extends Maturity Dates of its Funding Facilities (Update1)
Dec. 28 (Bloomberg) -- Rams Home Loans Group Ltd., the Australian mortgage company that failed to refinance more than A$6 billion ($5.3 billion) in short-term loans this year, today extended the maturity dates of two of its funding facilities. (Fri, 28 Dec 2007 00:59:14 GMT)

RAMS shares soar on update
RAMS Home Loans has extended $750 million of debt facilities, as it looks for refinancing options for its commercial paper obligations after falling victim to the US sub-prime mortgage crisis. (Fri, 28 Dec 2007 01:00:00 GMT)

Rams Extends Maturity for A$750 Million of Funding (Update2)
Dec. 28 (Bloomberg) -- Rams Home Loans Group Ltd., the Australian mortgage company that failed to refinance more than A$6 billion ($5.3 billion) in short-term loans this year, today extended the maturity of two of its funding facilities. (Fri, 28 Dec 2007 01:59:02 GMT)

Rams Extends Maturity for A$750 Million of Funding (Update2)
Dec. 28 (Bloomberg) -- Rams Home Loans Group Ltd., the Australian mortgage company that failed to refinance more than A$6 billion ($5.3 billion) in short-term loans this year, today extended the maturity of two of its funding facilities. (Fri, 28 Dec 2007 02:05:38 GMT)

Australian Lender RAMS Extends A$750 Million In Debt
(RTTNews) - Australian mortgage lender RAMS Home Loans Group has extended A$750 million in debt facilities in a step to refinance its commercial paper. The company was hard hit by the sub-prime mortgage crisis. (Fri, 28 Dec 2007 03:55:58 GMT)

Heartland closing wholesale mortgage division
Heartland Bank is closing its wholesale mortgage division and eliminating about 30 jobs in the St. Louis area amid shrinking demand for broker-originated loans — continued fallout from the collapse of the subprime mortgage market. (Fri, 28 Dec 2007 05:01:17 GMT)

Audit faults Md. oversight of mortgage sector
Perhaps we shouldn't be surprised. Not only did Maryland lack strong laws to prevent abuse by mortgage operators, it didn't enforce what flimsy regulations it had during the worst mortgage blowup in memory. (Fri, 28 Dec 2007 08:34:13 GMT)

Mortgage service firm files for bankruptcy
Greenwich-based ARH Mortgage Inc., a provider of services to home lenders, filed to liquidate its assets under bankruptcy protection. (Fri, 28 Dec 2007 10:20:55 GMT)

Mortgage slump as homeowners stay put
A slump in mortgage approvals in November provides yet more evidence that most of the housing market will be in the doldrums next year. (Fri, 28 Dec 2007 11:27:27 GMT)

Most mortgage rates steady as 30-year fixed rate jumps
WASHINGTON -- Rates on 30-year and one-year mortgages climbed this week, but rates on some other home loans didn't budge. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6. (Fri, 28 Dec 2007 11:30:12 GMT)

Home Invaders Shoot Man After Knocking On Door, Steal Wallet
Orange County deputies said three bold crooks knocked on a couple's door late Thursday night. When the man answered, they shot him several times and stormed inside the home on Raleigh Street near John Young Parkway. VIDEO: Violent Home Invasion Leaves One In Hospital Fighting For His Life (Fri, 28 Dec 2007 11:47:00 GMT)

Police: Man Fatally Shot Opening Door At Home
Police say a man was fatally shot when he opened the door to his home. (Fri, 28 Dec 2007 12:07:53 GMT)

Probes add to banks' worries in mortgage crisis
WASHINGTON -- The nation's largest banks are losing billions of dollars from the mortgage debacle. But will pain from bad housing bets be compounded by government investigations? (Fri, 28 Dec 2007 12:09:57 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, 28 Dec 2007 13:39:14 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, 28 Dec 2007 13:39:35 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. (Fri, 28 Dec 2007 13:39:44 GMT)

Mortgage crisis hits newspaper ad revenue
The U.S. newspaper industry felt the barbs of the subprime mortgage crisis through a sharp decrease in real estate advertising, a New York report said. (Fri, 28 Dec 2007 13:55:50 GMT)

Amherst mortgage firm seals Florida deals
Largo Capital Inc. has arranged for a $16.7 million mortgage that covers the financing for three plazas including two Florida retail centers. (Fri, 28 Dec 2007 14:12:08 GMT)

Fitch Rates GSR Mortgage Loan Trust $695.23MM 2007-5F
Fitch rates GSR Mortgage Loan Trust's residential mortgage pass-through certificates, series 2007-5F, as follows: (Fri, 28 Dec 2007 16:47:58 GMT)

Stocks higher, but downbeat home sales report caps gains
NEW YORK -- Stocks were higher Friday, but a disappointing report on new home sales for November capped gains and rekindled concerns about the U.S. economy and the housing crisis. (Fri, 28 Dec 2007 16:49:00 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, 28 Dec 2007 16:54:04 GMT)

U.S. stocks fall, pressured by downbeat home sales
NEW YORK -- Stocks were mostly lower on Friday, giving up their earlier gains, after a report showing that new home sales fell to their lowest level in 12 years rekindled concerns about the U.S. economy and the housing crisis. (Fri, 28 Dec 2007 18:59:00 GMT)

Fitch Affirms $26.4MM & Downgrades $2.9MM from 2003 Terwin Mortgage Trust Subprime Transaction
Fitch has taken rating actions on the following Terwin Mortgage Trust asset-backed certificates: (Fri, 28 Dec 2007 19:46:58 GMT)

Young United trio stay out on loan
Manchester United trio Frazier Campbell, Ryan Shawcross and Lee Martin are extending their loan deals at Hull, Stoke and Plymouth respectively.Campbell has has made a big impact at Hull City since joining the Tigers in October, scoring six times in 12 starts. (Fri, 28 Dec 2007 20:00:10 GMT)

Thurmond touts Clinton thoughts on mortgage crisis
Georgia Labor Commissioner Michael Thurmond said Friday that Democratic presidential hopeful Hillary Clinton's plan to deal with the nation's mortgage crisis could pay dividends here. (Fri, 28 Dec 2007 20:20:58 GMT)

U.S. stocks trade mixed amid downbeat home sales
NEW YORK -- Stocks were mixed in volatile trading on Friday, after a report showing that new home sales fell to their lowest level in 12 years rekindled concerns about the U.S. economy and the housing crisis. (Fri, 28 Dec 2007 20:24:00 GMT)

Fitch Downgrades $974M in Mortgage Bonds
Fitch Ratings cut its rating on $973.9 million in bonds backed by mortgage debt because the agency assumes more people will fail to repay their home loans. (Fri, 28 Dec 2007 21:33:59 GMT)

Mortgage rates rise at largest banks
Mortgage rates at Hawaii's largest banks nudged upward this week after dipping below 5.75 percent at most of the major lenders last week. (Fri, 28 Dec 2007 23:08:47 GMT)

Military to get home loan aid
The Tories have welcomed moves to help serving military personnel get on to the housing ladder (Fri, 28 Dec 2007 23:58:58 GMT)

RM2,000 loan that swelled to RM300,000
KUALA LUMPUR: "If you don't pay RM500 today, prepare a coffin for yourself." This was the threatening text message received by Tan Lin Son from a loan shark who has demanded RM300,000 to settle a RM2,000 loan. (Sat, 29 Dec 2007 00:05:39 GMT)

'Devil in detail' of military home loan aid, say Tories
The Conservatives cautiously welcomed government moves to help serving personnel get on housing ladder (Sat, 29 Dec 2007 01:37:26 GMT)

Mortgage, can you advise?
Mortgage, can you advise? (Sat, 29 Dec 2007 02:40:27 GMT)

Can someone explain by getting a lower mortgage rate will make the originating fees go up .?
Can someone explain by getting a lower mortgage rate will make the originating fees go up .? (Sat, 29 Dec 2007 02:40:37 GMT)

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