Mortgage News Jan 2008

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Federal Home Loan Bank of New York Selects Leading Collateral Management Solution from Rockall Technologies
Rockall Technologies, a leading financial services solutions company, is delighted to announce that their collateral management solution, STOC, was selected by the Federal Home Loan Bank (FHLBNY) of New York. The FHLB New York will implement STOC to manage the eligible securities and mortgage assets collateralizing advances to its member banks. In addition to FHLB New York, the Rockall system ... (Wed, 16 Jan 2008 17:40:20 GMT)

Man pleads guilty to home mortgage scam
A Sacramento man accused to defrauding two couples in a home mortgage scam pleaded guilty Tuesday to bank fraud and money laundering. (Wed, 16 Jan 2008 17:53:20 GMT)

Sector Snap: Bond, Mortgage Insurers Dip
Shares of bond and mortgage insurers mostly fell Wednesday after Ambac Financial Group Inc. said it plans to boost its capital reserves by $1 billion, fueling concern that insurers could ultimately bear the brunt of the current credit crisis. (Wed, 16 Jan 2008 18:02:27 GMT)

Homeowners paying more in home loan fees
Australian homeowners are paying higher fees on their home loans compared with some of their overseas counterparts and the level of fees is stifling competition, according to consumer group Choice. (Wed, 16 Jan 2008 18:47:55 GMT)

IndyMac will close regional mortgage center
IndyMac Bancorp Inc. said Tuesday that it will close regional wholesale mortgage centers in Kansas City, Tampa, Philadelphia, Boston and Columbia, S.C., as a result of the continued downturn of the mortgage market. (Wed, 16 Jan 2008 20:40:51 GMT)

RRSP or mortgage...again
Some people say it is better to pay off your mortgage before contributing to an RRSP. Others say it makes sense to contribute to both an RRSP and mortgage at the same time. Who is right? (Wed, 16 Jan 2008 21:03:04 GMT)

Federal Home Loan Bank of Indianapolis Announces 2007 Fourth Quarter Dividend
INDIANAPOLIS, Jan. 16, 2008 -- On January 15, 2008, the board of directors of the Federal Home Loan Bank of Indianapolis declared a dividend on B-1 stock at an annualized rate of 4.75%. (Wed, 16 Jan 2008 21:26:54 GMT)

Mortgage bankers urged to oppose Dodd bill
Mortgage bankers should work together to oppose a bill proposed by U.S. Sen. Chris Dodd, D-Conn., leaders of the Texas and U.S. mortgage bankers associations told local mortgage bankers today. (Wed, 16 Jan 2008 21:56:36 GMT)

Bankrate: Mortgage Rates Post Largest 3 Week Decline in 20 Years
Evidence of a weaker economy pushed mortgage rates to the lowest point since July 2005, with the average conforming 30-year fixed mortgage rate now 5.75 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. (Wed, 16 Jan 2008 22:42:00 GMT)

Interest-only home loan
I'm finding the recent interest rate rises a bit harrowing and have heard that you can access a product called an interest-only home loan. What do you think of not paying off your principal? (Thu, 17 Jan 2008 00:22:00 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, 17 Jan 2008 01:56:28 GMT)

Local mortgage workers facing more job cuts
The early months of 2008 are expected to unleash more pain for a mortgage industry that has disclosed plans to shed more than 1,600 jobs in California. (Thu, 17 Jan 2008 02:11:49 GMT)

Bill Clinton touts wife's plan to address mortgage meltdown
OAKLAND, Calif. Former President Bill Clinton said Wednesday the federal government needs to help cities bail out homeowners facing foreclosure before the national economy unravels from a mortgage crisis that has more unsuspecting victims than villains. (Thu, 17 Jan 2008 03:02:34 GMT)

Bill Clinton touts wife's plan to address mortgage meltdown
OAKLAND, 6:45 p.m. Jan. 16 (AP): Former President Bill Clinton said Wednesday the federal government needs to help cities bail out homeowners facing foreclosure before the national economy unravels from a mortgage crisis that has more unsuspecting victims than villains. (Thu, 17 Jan 2008 03:33:16 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. (Thu, 17 Jan 2008 03:56:04 GMT)

Fort Pierce man charged with mortgage fraud
Fort Pierce man charged with mortgage fraud (Thu, 17 Jan 2008 05:11:52 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 17 Jan 2008 06:25:54 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. (Thu, 17 Jan 2008 08:02:04 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, 17 Jan 2008 08:02:23 GMT)

Wells Fargo's profit slips to 6-year quarterly low / Mortgage crisis, declining home values weigh on bottom line
Wells Fargo & Co. ended 2007 with its lowest quarterly profit in six years, dragged down by the declining home values and mortgage mess that's tormenting most of the banking industry. The San Francisco company said Wednesday that it earned $1.36 billion (41... (Thu, 17 Jan 2008 08:37:32 GMT)

Mortgage giant stumbles
NEW YORK–Wells Fargo & Co., the No. 2 U.S. mortgage lender, said yesterday fourth-quarter profit fell 38 per cent – the first decline in more than six years – as more people missed payments on mortgages and home equity loans. (Thu, 17 Jan 2008 09:44:01 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. (Thu, 17 Jan 2008 10:31:09 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, 17 Jan 2008 10:46:38 GMT)

Will your lender let you do a short refinance?
If homeowners facing foreclosure could get the bank to refinance their homes at their current values, they could keep their houses. But lenders don't want to do these short refis. Here's why. (Thu, 17 Jan 2008 11:00:00 GMT)

Deeper mortgage job cuts planned
The early months of 2008 are expected to unleash more pain for a mortgage industry that has disclosed plans to shed more than 1,600 jobs in California. (Thu, 17 Jan 2008 11:11:09 GMT)

Mortgage jobs take hit in 2007
New York State lost 2,071 mortgage jobs in 2007, according to a recent analysis by mort gagedaily.com. (Thu, 17 Jan 2008 11:15:57 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. (Thu, 17 Jan 2008 11:46:30 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? (Thu, 17 Jan 2008 11:46:52 GMT)

Xceed Mortgage swings to loss
TORONTO — Xceed Mortgage Corp., a non-traditional mortgage lender, has swung to a full-year loss of $4.5-million from a year-ago profit of $22-million after posting a big fourth-quarter writedown related to turmoil in the commercial paper market. (Thu, 17 Jan 2008 12:21:20 GMT)

Big U.S. Banks Say Mortgage Woes Signal Lending Crisis
JPMorgan Chase & Co. and Wells Fargo & Co., two of the nation's largest banks, on Wednesday joined a growing chorus warning that the subprime mortgage mess is just the start of a sweeping lending crisis. And some fear that consumers falling behind on all kinds of loan payments could tip the economy's scale toward recession. (Thu, 17 Jan 2008 12:22:03 GMT)

Live Reports
Want to be successful at work? Find out what you can do to make that happen. More 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, 17 Jan 2008 12:53:26 GMT)

Refinancing an adjustable-rate mortgage to get a fixed rate
If you are among the millions of homeowners with an adjustable-rate mortgage, you may be facing increasing interest rates as the loan adjusts. Refinancing might be the solution to the problem. (Thu, 17 Jan 2008 13:44:59 GMT)

Will your lender let you do a short refinance?
A mortgage broker has an idea for reducing foreclosures: Encourage lenders to forgive debt. So far, the notion hasn't gained traction. Jeff Lazerson, founder and president of the online brokerage Mortgage Grader , believes that some foreclosures could be prevented if delinquent borrowers could refinance their loans, but with some of the debt forgiven. (Thu, 17 Jan 2008 14:18:17 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, 17 Jan 2008 14:34:13 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, 17 Jan 2008 14:47:58 GMT)

IC Federal Credit Union unveils Home Heating Helper Loan to its members
FITCHBURG -- IC Federal Credit Union announced recently it will offer a special loan for local residents trying to keep warm this winter. (Thu, 17 Jan 2008 15:20:56 GMT)

Federal Home Loan Bank of New York selects Leading Collateral Management Solution from Rockall Technologies
NEW YORK----Rockall Technologies, a leading financial services solutions company is delighted to announce that their collateral management solution, STOC, was selected by the Federal Home Loan Bank of New York. (Thu, 17 Jan 2008 15:41:00 GMT)

Commissioners approve loan for meat business
Warren Brown, Osgood, and his attorney, John Ertel, presented the Ripley County Commissioners with a request for $25,000 from the Ripley County Micro-loan program to open a new business selling local, home-grown meats, meats purchased from out of state vendors, as well as deli meats. (Thu, 17 Jan 2008 16:52:10 GMT)

Foreclosures 60 percent higher than home-loan modifications
Number of foreclosures 60 percent higher than home-loan modifications in third quarter (Thu, 17 Jan 2008 18:20:20 GMT)

Mortgage lenders are helping borrowers avoid foreclosure: MBA
CHICAGO (MarketWatch) - In an effort to prevent home foreclosures, lenders modified an estimated 54,000 mortgage loans during the third quarter and set up repayment plans with about 183,000 struggling borrowers, the Mortgage Bankers Association said Thursday. (Thu, 17 Jan 2008 18:31:26 GMT)

Mortgage Rates Hit 30-Month Low
The average rate on a 30-year, fixed-rate mortgage fell 18 basis points to 5.69% during the week ended Thursday. (Thu, 17 Jan 2008 18:38:26 GMT)

Lehman Brothers to shrink mortgage business
The investment bank will take a $40 million charge as it shortens its home mortgage-lending arm and lays off about 1,300 people. (Thu, 17 Jan 2008 18:38:42 GMT)

Sector Snap: Mortgage Insurers Decline
Shares of mortgage insurers continued to plunge Thursday after a Commerce Department report offered little hope for a recovery in the housing market. (Thu, 17 Jan 2008 19:07:19 GMT)

S&P's gloomier mortgage view puts more pressure bond insurers
Standard & Poor’s darker outlook for the mortgage market is adding to problems in the bond insurance industry. (Thu, 17 Jan 2008 19:16:50 GMT)

Xceed Mortgage falls to 2007 loss
Trouble in the asset-backed commercial paper market pulled Xceed Mortgage Corp. to a loss in the fourth quarter and for the full year, the company said Thursday. (Thu, 17 Jan 2008 19:27:18 GMT)

Lehman to cut 1,300 mortgage jobs
Investment bank Lehman Brothers Holdings Inc on Thursday said it would stop U.S. wholesale mortgage lending because of a continued slump in credit and housing markets, a move that will cut 1,300 jobs and result in a $40 million charge. (Thu, 17 Jan 2008 19:42:12 GMT)

U.S. mortgage rates fall for third week
U.S. mortgage rates were down for the third consecutive week, the Freddie Mac Market Survey said Thursday. (Thu, 17 Jan 2008 19:48:47 GMT)

Lehman Brothers to Cut 1,300 Jobs in Mortgage Unit (Update2)
Jan. 17 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, will eliminate 1,300 jobs in the firm's fourth round of cuts resulting from the collapse of the subprime market. (Thu, 17 Jan 2008 20:14:19 GMT)

Lehman Bros. to eliminate 1,300 mortgage jobs
US investment bank Lehman Brothers said Thursday it was eliminating 1,300 staff as it continues to scale back its US mortgage operations amid a national housing slump. (Thu, 17 Jan 2008 20:22:29 GMT)

30-year mortgage fall below 6 percent
Rates on 30-year mortgages dropped for a third straight week to the lowest level since the summer of 2005 as worries intensified about the current economic slowdown. (Thu, 17 Jan 2008 20:24:15 GMT)

Commercial Mtge-Based Index Hit On Refinancing Concerns
NEW YORK-(Dow Jones)- Growing worries about the health of the commercial mortgage bond market gripped investors Thursday, sending a derivative index based on those bonds into a tailspin. (Thu, 17 Jan 2008 20:38:37 GMT)

Lehman to Cut 1,300 Mortgage Jobs
In a move that will shed 1,300 jobs, Lehman Brothers said it would stop wholesale mortgage lending amid a continued slump in credit and housing. (Thu, 17 Jan 2008 20:40:04 GMT)

30-Year Mortgage Fall Below 6 Percent
Rates on 30-year mortgages dropped for a third straight week to the lowest level since the summer of 2005 as worries intensified about the current economic slowdown. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate... (Thu, 17 Jan 2008 20:51:02 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 17 Jan 2008 21:00:02 GMT)

Lehman to Cut 1,300 Mortgage Jobs
Lehman Brothers Holdings Inc. on Thursday said it would cease wholesale mortgage lending in the U.S. because of the continued housing slump, a move that includes 1,300 jobs cuts and a $40 million charge. (Thu, 17 Jan 2008 21:00:02 GMT)

Lehman to cut 1,300 mortgage jobs
Lehman Brothers Holdings Inc. on Thursday said it would cease wholesale mortgage lending in the U.S. because of the continued housing slump, a move that includes 1,300 jobs cuts and a $40 million charge. (Thu, 17 Jan 2008 21:20:34 GMT)

Lehman Brothers to Cut 1,300 Jobs in Mortgage Unit (Update3)
Jan. 17 (Bloomberg) -- Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, will eliminate 1,300 jobs in the firm's fourth round of cuts resulting from the collapse of the mortgage market. (Thu, 17 Jan 2008 21:29:13 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Thu, 17 Jan 2008 22:26:28 GMT)

Lehman to cut 1,300 mortgage jobs
The investment bank said Thursday that it would stop U.S. wholesale mortgage lending because of a continued slump in credit and housing markets. (Thu, 17 Jan 2008 22:39:13 GMT)

Kenneth Harney: Drop in mortgage rates triggers January refinancing boom
WASHINGTON - Is it a refi renaissance? Or a fast-closing window of opportunity? Nobody can answer these questions for certain, but there's no doubt about this: Thanks to the lowest mortgage interest rates in a year and a half - an average 5. (Thu, 17 Jan 2008 23:35:00 GMT)

30-Year Mortgage Fall Below 6 Percent
Rates on 30-year mortgages dropped for a third straight week to the lowest level since the summer of 2005 as worries intensified about the current economic slowdown.Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.69 percent this week, down from 5.87 percent last week. (Fri, 18 Jan 2008 00:01:49 GMT)

Lehman to Cut 1,300 Mortgage Jobs
In a move that will shed 1,300 jobs, Lehman Brothers said it would stop wholesale mortgage lending amid a continued slump in credit and housing. (Fri, 18 Jan 2008 00:40:03 GMT)

General Growth Announces New Mortgage Loans and the Sale of Two Office Buildings
CHICAGO----General Growth Properties, Inc. announced today the arrangement of three new mortgage loans on regional malls owned in joint ventures and the pending sale of two wholly owned office buildings. (Fri, 18 Jan 2008 01:08:00 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 18 Jan 2008 02:17:11 GMT)

Berkshire County listed as hotspot for home loan fraud
Experts are calling Berkshire County a hotspot for home loan predators. But now, thanks to a major grant from the federal government, that could soon change. Our Ryan Burgess has the story. (Fri, 18 Jan 2008 03:49:32 GMT)

With lower rates, consumers seek mortgage deals
BLOOMINGTON — David Rutledge likens mortgage interest rates to a game of “Deal Or No Deal.” (Fri, 18 Jan 2008 04:13:18 GMT)

Lenders cold to the idea of forgiving mortgage debt
A mortgage broker has an idea for reducing foreclosures: Encourage lenders to forgive debt. So far, the notion hasn't gained traction. ... (Fri, 18 Jan 2008 05:12:13 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 18 Jan 2008 06:11:42 GMT)

With lower rates, consumers seek mortgage deals
BLOOMINGTON — David Rutledge likens mortgage interest rates to a game of “Deal Or No Deal.” (Fri, 18 Jan 2008 06:17:14 GMT)

Texas Home Mortgage Refinance Soars
Lonestarfinancing.com, headquartered out of Austin, Texas, has reported a 38 percent spike in online refinance applications for January 2008. Whether you're buying a lake house in the Austin, Texas, hill country, or refinancing an urban loft downtown Dallas, your first step is to get familiar with how different loan rates effect your monthly mortgage payments. (Fri, 18 Jan 2008 07:01:00 GMT)

Texas Home Mortgage Refinance Soars
Lonestarfinancing.com, headquartered out of Austin, Texas, has reported a 38 percent spike in online refinance applications for January 2008. Whether you're buying a lake house in the Austin, Texas, hill country, or refinancing an urban loft downtown Dallas, your first step is to get familiar with how different loan rates effect your monthly mortgage payments. (PRWeb Jan 18, 2008) Post ... (Fri, 18 Jan 2008 08:24:12 GMT)

Best home equity moves to make in 2008
What to do if you're using a home equity loan or HELOC in 2008. (Fri, 18 Jan 2008 11:00:00 GMT)

UPDATE: Mortgage Lenders Point To Efforts To Fend Off Foreclosures: MBA
CHICAGO (Dow Jones) -- As the rate of home foreclosures hit record highs in the third quarter, mortgage lenders say they worked on loan modification and repayment plans for more than 235,000 borrowers that quarter alone, the Mortgage Bankers Association reported Thursday. (Fri, 18 Jan 2008 11:25:50 GMT)

UPDATE: S&P's Gloomier Mortgage View Confirms Pressure On Bond Insurers
SAN FRANCISCO (Dow Jones) -- Standard & Poor's darker outlook for the mortgage market confirms problems in the bond insurance industry. (Fri, 18 Jan 2008 11:26:03 GMT)

Better to pay mortgage on rental property or personal residence?
Better to pay mortgage on rental property or personal residence? (Fri, 18 Jan 2008 12:12:44 GMT)

Nigeria: FCMB Introduces Innovative Home Loan Products
First City Monument Bank Plc (FCMB) has introduced a new loans scheme in the country with its innovative consumer home loan called "MyHome". (Fri, 18 Jan 2008 12:22:02 GMT)

Lehman to cut 1,300 jobs, restrict mortgage lending
Lehman Brothers Holdings (LEH) will cease wholesale mortgage lending in the United States because of the continued housing slump, a move that includes 1,300 job cuts and a $40 million charge. (Fri, 18 Jan 2008 12:23:31 GMT)

Berkshire County listed as hotspot for home loan fraud
Experts are calling Berkshire County a hotspot for home loan predators. But now, thanks to a major grant from the federal government, that could soon change. (Fri, 18 Jan 2008 12:49:31 GMT)

US mortgage crisis unlikely to do damage here: RBA governor
As Australia's sharemarket plunged for a record 10th consecutive day, writing billions of dollars off share values, Reserve Bank governor Glenn Stevens told Australians the US mortgage crisis was unlikely to do significant economic damage here. (Fri, 18 Jan 2008 13:10:45 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, 18 Jan 2008 14:18:43 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, 18 Jan 2008 14:19:14 GMT)

Ocoee Family Is Losing Home Due To Bad Loan With Hidden Fees
A deaf couple and their 5 children are losing their home in Ocoee. They blame the mortgage broker who sold them a loan right before the real estate meltdown. Action 9's Todd Ulrich found... it was a subprime loan, packed with hidden fees, that the couple claims were never disclosed to them.VIDEO: Ocoee Family Is Losing Home Due To Bad Loan With Hidden Fees (Fri, 18 Jan 2008 15:31:30 GMT)

Paulson calls mortgage modifications 'promising'
Treasury Secretary Henry Paulson said the mortgage industry's program to help distressed borrowers is showing promise and urged further steps to offer assistance, Bloomberg News reported. (Fri, 18 Jan 2008 16:19:10 GMT)

Colorado Mortgage Company to Lay Off 1,300
NEW YORK -- A New York company with a Colorado-based subsidiary says it'll cease wholesale mortgage lending in the U.S. -- a move that includes 1,300 jobs cuts. (Fri, 18 Jan 2008 17:51:40 GMT)

RBA to consider impact of mortgage hikes
The Reserve Bank of Australia will consider the effect of recent mortgage rate hikes by the major banks before deciding on moving official rates. (Fri, 18 Jan 2008 19:09:51 GMT)

With lower rates, consumers seek mortgage deals
BLOOMINGTON — David Rutledge likens mortgage interest rates to a game of “Deal Or No Deal.” (Fri, 18 Jan 2008 19:14:39 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, 18 Jan 2008 19:16:51 GMT)

RBA to consider impact of mortgage hikes
The Reserve Bank of Australia will consider the effect of recent mortgage rate hikes by the major banks before deciding on moving official rates next month, governor Glenn Stevens says. (Fri, 18 Jan 2008 19:25:16 GMT)

Clarification: Countrywide mortgage story
In a Jan. 16 story detailing efforts by Countrywide Financial Corp. to help borrowers manage mortgage payments in 2007, The Associated Press reported that 1,000 customers lost their homes through short sales, when a home is sold for less than the amount owed... (Fri, 18 Jan 2008 20:41:16 GMT)

Home loan hikes to impact rate decision
The impact of higher mortgage repayments forced on many home owners this month is set to play a key role in helping the Reserve Bank decide its next interest rate move. (Fri, 18 Jan 2008 20:54:56 GMT)

Fitch Downgrades $14M in Mortgage Bonds
Fitch Ratings downgraded $13.8 million in mortgage bonds sold by JPMorgan Chase & Co., the ratings agency said Friday. Fitch affirmed its rating on one class of bonds backed by mortgages worth about $229.3 million. (Fri, 18 Jan 2008 21:53:44 GMT)

FBR's Mortgage Unit Files for Chapter 11
Investment bank Friedman Billings Ramsey Group Inc. said Friday that, as expected, its mortgage lending arm First NLC Financial Services LLC has filed for Chapter 11 bankruptcy protection. (Fri, 18 Jan 2008 22:51:39 GMT)

Help Available For Home Borrowers In Mortgage Crisis
U.S. Sen. Bob Casey was in Pittsburgh on Friday to deliver the message about the country's mortgage crisis, which he said is threatening the American dream for too many families and hurting the economy. (Fri, 18 Jan 2008 23:13:00 GMT)

13 indicted, 7 others guilty in home equity loan scheme
A federal judge unsealed a 35-count indictment Friday that charged 13 people in a scheme to fraudulently obtain more than $20 million in home equity and business lines of credit. (Fri, 18 Jan 2008 23:19:15 GMT)

Help Available For Borrowers In Mortgage Crisis
U.S. Sen. Bob Casey was in Pittsburgh on Friday to deliver the message about the country's mortgage crisis, which he said is threatening the American dream for too many families and hurting the economy. (Fri, 18 Jan 2008 23:25:55 GMT)

Failed mortgage lender can sell to builder
Failed mortgage lender can sell loans to builder (Fri, 18 Jan 2008 23:35:14 GMT)

Mortgage company exec jumps to death
An executive of a collapsed subprime mortgage lender jumped to his death from a bridge Friday, shortly after his wife's body was found inside their New Jersey home, authorities said. (Sat, 19 Jan 2008 01:20:52 GMT)

Woman gets $3.5M judgment in mortgage scam
A Great Neck woman victimized in a mortgage fraud in which she unknowingly gave away her house has won a $3.5-million judgment against the mortgage broker who scammed her, court documents show. (Sat, 19 Jan 2008 02:09:04 GMT)

Mortgage broker faces eight more charges
A mortgage broker already charged by Hennepin County as part of an alleged mortgage fraud ring now faces eight additional theft charges for earlier home loans. (Sat, 19 Jan 2008 02:13:40 GMT)

Should Retirees Pay Off Their Mortgage Early?
Kelly Greene explains how to decide whether to pay off a mortgage at retirement to get rid of the big monthly expense. (Sat, 19 Jan 2008 03:32:57 GMT)

Mortgage exec kills wife, self
An executive of a collapsed subprime mortgage lender jumped to his death after killing his wife, police said. (Sat, 19 Jan 2008 04:40:25 GMT)

Mortgage Fraud Surging In Florida
More potential mortgage fraud cases were reported by lenders in Florida in 2007 than in the entire country the previous year, William Stern, a supervisory special agent with the FBI, said Friday. (Sat, 19 Jan 2008 05:09:12 GMT)

Mortgage broker faces eight more charges
A mortgage broker already charged by Hennepin County as part of an alleged mortgage fraud ring now faces eight additional theft charges for earlier home loans. (Sat, 19 Jan 2008 05:44:53 GMT)

13 indicted, 7 others guilty in home equity loan scheme
A federal judge unsealed a 35-count indictment Friday that charged 13 New Jersey residents in a scheme to fraudulently obtain more than $20 million in home equity and business lines of credit. (Sat, 19 Jan 2008 09:19:14 GMT)

Low mortgage rates may not last long
Whether you're thinking about refinancing your mortgage or taking advantage of January's exceptionally low rates to buy a house, don't sit around. Acting sooner rather than later should be a smart strategy. (Sat, 19 Jan 2008 10:13:26 GMT)

Mortgage workers face more layoffs in Bay Area More than 1,600 mortgage industry job eliminations planned in ...
The early months of 2008 are expected to unleash more pain for a mortgage industry that has disclosed plans to shed more than 1,600 jobs in California. (Sat, 19 Jan 2008 11:00:35 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, 19 Jan 2008 11:41:29 GMT)

Hawaii's mortgage rates fall to 4-year low
Hawaii home buyers are seeing the lowest mortgage rates since 2004 when rates fell to a 40-year historical low. Current mortgage rates have dropped to 5.25 percent -- the same as four years ago -- and is expected to remain favorable through 2008, said Rusty Rasmussen, vice president of Castle & Cooke Mortgage , who was part of a panel of experts yesterday at the 2008 Hawaii Real Estate Forecast ... (Sat, 19 Jan 2008 11:57:37 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? (Sat, 19 Jan 2008 12:41:19 GMT)

Families battle mortgage wars
RECORD numbers of South Australians are refinancing their homes as the mortgage squeeze forces families to scrap for every dollar to make ends meet. (Sat, 19 Jan 2008 12:46:29 GMT)

Families battle mortgage wars
RECORD numbers of South Australians are refinancing their homes as the mortgage squeeze forces families to scrap for every dollar to make ends meet. (Sat, 19 Jan 2008 12:52:58 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sat, 19 Jan 2008 12:56:03 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. (Sat, 19 Jan 2008 12:56:08 GMT)

Mortgage lenders eager to help traditional borrowers
Remember trying to refinance during the real estate boom? You were lucky if your broker or lender returned your calls within two weeks. (Sat, 19 Jan 2008 16:16:34 GMT)

Top mortgage broker says being open with clients key
New Zealand's top mortgage broker is not a shy woman - at age 33, Suzie Oliver is in the final stages of moving out of the office at her home and into new business premises. (Sat, 19 Jan 2008 16:43:27 GMT)

WA Senate passes first bill aimed at easing home loan crisis
The state Senate on Friday unanimously passed the first of several measures aimed at curtailing effects of the nationwide mortgage crisis, approving $1.5 million for financial counseling for homeowners facing foreclosure. (Sat, 19 Jan 2008 17:12:36 GMT)

RBA to consider impact of mortgage hikes
The Reserve Bank of Australia will consider the effect of recent mortgage rate hikes by the major banks before deciding on moving official rates next month, governor Glenn Stevens says. (Sat, 19 Jan 2008 20:35:01 GMT)

Mortgage foreclosures triple in state in 2007
Mortgage companies foreclosed on 7,563 Massachusetts homes in 2007, triple the number from the previous year, according to the Warren Group, a Boston-based publisher of real estate data. (Sat, 19 Jan 2008 21:09:52 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, 19 Jan 2008 22:11:09 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, 19 Jan 2008 23:11:08 GMT)

Mortgage Foreclosures Triple In State
Mortgage companies foreclosed on 7,563 Massachusetts homes in 2007. (Sun, 20 Jan 2008 00:31:13 GMT)

Search continues for mortgage firm exec who jumped off bridge
MARLTON, N.J. - Marital problems led a high-ranking executive of a collapsed subprime mortgage lender to kill his wife inside their home and then jump to his death from the Delaware Memorial Bridge, authorities said Saturday. (Sun, 20 Jan 2008 01:04:27 GMT)

ANALYSIS / Banks could see more trouble with home equity loan delinquencies
Contrarian investors who think now is the time to start buying beaten-down banking stocks could be in for a shock if they don't carefully review those companies' distressed home equity loan portfolios. Widespread losses tied to subprime-mortgage investments... (Sun, 20 Jan 2008 04:07:12 GMT)

ANALYSIS / Banks could see more trouble with home equity loan delinquencies
Contrarian investors who think now is the time to start buying beaten-down banking stocks could be in for a shock if they don't carefully review those companies' distressed home equity loan portfolios. (Sun, 20 Jan 2008 04:42:04 GMT)

El Paso home sales drop 12.6% in '07
El Paso's hot housing market cooled off in 2007 as many out-of-town investors pulled out and home-loan requirements tightened. (Sun, 20 Jan 2008 05:04:46 GMT)

Never fear: Mortgage loans still available
ASHEVILLE -- Last year's subprime meltdown scared many people away from the mortgage market, but they may want to take a second look: With interest rates at their lowest in two years, experts say now's a good time to shop for a loan. (Sun, 20 Jan 2008 05:42:59 GMT)

Countrywide urges customers to refinance
Countrywide Financial Corp., stuck with tens of billions of dollars in alternative mortgages it cannot sell, is pushing customers to refinance into traditional loans that can be easily unloaded by the struggling lender. (Sun, 20 Jan 2008 06:25:50 GMT)

New law boosts oversight for mortgage advisers
People taking out mortgages have always been held responsible for meeting the terms of their loans. Now, many mortgage advisers will be held personally responsible for creating those terms. (Sun, 20 Jan 2008 08:07:57 GMT)

Pondering a refinancing? Time is ripe right now
Is it a refi renaissance? Or a fast-closing window of opportunity? Nobody can answer these questions for certain, but there's no doubt about this: Thanks to the lowest mortgage interest rates in a year and a half -- an average 5.73 percent for conforming 30-year fixed rate loans and 5.21 percent for 15-year loans -- nearly 60 percent of all new mortgage applications as of mid-January were for ... (Sun, 20 Jan 2008 08:10:02 GMT)

Homeowners paying more in home loan fees
Australian homeowners are paying higher fees on their home loans compared with some of their overseas counterparts and the level of fees is stifling competition, according to consumer group Choice. (Sun, 20 Jan 2008 08:10:07 GMT)

Pay mortgage early?
Mary and Jim Vaca aren't like most Americans: They hate debt. They're working toward paying off the 30-year mortgage on their Ballantyne home -- their only debt -- early. The Vacas, who borrowed $250,000 two years ago, base their monthly payments on a 15-year schedule. A nationwide housing slump and uptick in foreclosures no doubt make the idea of paying off the family home early more appealing. ... (Sun, 20 Jan 2008 08:21:43 GMT)

For Some, The Time Is Right To Refinance
Remember trying to refinance during the real estate boom? You were lucky if your broker or lender returned your calls within two weeks. (Sun, 20 Jan 2008 08:25:20 GMT)

ANALYSIS / Banks could see more trouble with home equity loan delinquencies
Contrarian investors who think now is the time to start buying beaten-down banking stocks could be in for a shock if they don't carefully review those companies' distressed home equity loan portfolios. Widespread losses tied to subprime-mortgage investments... (Sun, 20 Jan 2008 08:43:02 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, 20 Jan 2008 10:17:10 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, 20 Jan 2008 10:47:00 GMT)

WA Senate passes first bill aimed at easing home loan crisis
The state Senate on Friday unanimously passed the first of several measures aimed at curtailing effects of the nationwide mortgage crisis, approving $1.5 million for financial counseling for homeowners facing foreclosure. (Sun, 20 Jan 2008 10:47:06 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, 20 Jan 2008 10:47:10 GMT)

Mortgage workers face more layoffs in Bay Area More than 1,600 mortgage industry job eliminations planned in ...
The early months of 2008 are expected to unleash more pain for a mortgage industry that has disclosed plans to shed more than 1,600 jobs in California. (Sun, 20 Jan 2008 10:59:28 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, 20 Jan 2008 11:01:30 GMT)

Refinancing boom doesn't benefit everyone
Another mortgage-refinancing boom is under way. But this time around, many homeowners will be watching from the sidelines. For the first time since 2005, mortgage rates have slipped well below 6 percent, ending last week at about 5.87 percent, according to mortgage tracker HSH Associates. (Sun, 20 Jan 2008 11:56:35 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, 20 Jan 2008 12:11:20 GMT)

Pay mortgage early?
Mary and Jim Vaca aren't like most Americans: They hate debt. They're working toward paying off the 30-year mortgage on their Ballantyne home -- their only debt -- early. The Vacas, who borrowed $250,000 two years ago, base their monthly payments on a 15-year schedule. A nationwide housing slump and uptick in foreclosures no doubt make the idea of paying off the family home early more appealing. ... (Sun, 20 Jan 2008 12:56:44 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, 20 Jan 2008 13:01:09 GMT)

Reverse mortgage can backfire on homeowner
After her husband died, Ernestine Boach felt she needed financial guidance. It was 2003, and Boach had just turned 62. An adviser urged her to take out a reverse mortgage, available mainly to those 62 and older, and use the money to buy deferred annuities. (Sun, 20 Jan 2008 13:38:22 GMT)

NEW JERSEY: Search continues for mortgage firm exec who jumped off bridge
MARLTON — Marital problems led a high-ranking executive of a collapsed subprime mortgage lender to kill his wife inside their home and then jump to his death from the Delaware Memorial Bridge, authorities said Saturday. (Sun, 20 Jan 2008 17:18:24 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, 20 Jan 2008 18:01:19 GMT)

Competition keeps mortgage interest rate low
AMG: Mortgage banks have become flexible to the point of offering prices that are close to a loss, just to avoid losing customers. (Sun, 20 Jan 2008 18:14:04 GMT)

Coroner: Mortgage Exec's Wife Beaten To Death
Burlington County officials release autopsy results in connection with the apparent murder-suicide involving a disgraced mortgage executive. (Sun, 20 Jan 2008 18:29:53 GMT)

Animal shelter sees influx as mortgage crisis grows
Workers at the Salem Animal Rescue League shelter say they've seen an influx of pets being surrendered by owners who've lost their homes due to the subprime mortgage crisis. (Sun, 20 Jan 2008 23:26:31 GMT)

Study on mortgage switching
Research commissioned by EBS Building Society among mortgage switchers has revealed 83% of respondents said they found it easy to switch. (Mon, 21 Jan 2008 01:13:47 GMT)

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