Mortgage News Jan 2008
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Home loan inquiries up despite rate rise
The desire of Australians to own a home shows no sign of abating, with the number of mortgage inquiries continuing to soar despite higher interest rates. (Mon, 21 Jan 2008 03:50:11 GMT)
Home loan inquiries up despite rate rise
The desire of Australians to own a home shows no sign of abating, with the number of mortgage inquiries continuing to soar despite higher interest rates. (Mon, 21 Jan 2008 03:50:11 GMT)
Home loan inquiries soar despite rate rises
THE desire of Australians to own their own home shows no sign of abating, with the number of mortgage inquires continuing to soar, despite the spectre of higher interest rates and dearer petrol eating into the hip pocket. (Mon, 21 Jan 2008 04:20:00 GMT)
Home loan inquiries soar despite rate rises
THE desire of Australians to own their own home shows no sign of abating, with the number of mortgage inquires continuing to soar, despite the spectre of higher interest rates and dearer petrol eating into the hip pocket. (Mon, 21 Jan 2008 04:20:00 GMT)
Home loan inquiries soar despite rate rises
THE desire of Australians to own their own home shows no sign of abating, with the number of mortgage inquires continuing to soar, despite the spectre of higher interest rates and dearer petrol eating into the hip pocket. (Mon, 21 Jan 2008 04:20:00 GMT)
Area officials battle against mortgage foreclosures
The issue of mortgage foreclosure and its economic impact is garnering attention across the nation, and the City of Lansing and Ingham, Eaton and Clinton Counties are not immune. (Mon, 21 Jan 2008 04:37:27 GMT)
M&T woes indicative of mortgage industry bust
M&T Bank Corp.'s depressed earnings because of the industry's underlying mortgage problems in 2007 surprised some investors when announced on Jan. 14. (Mon, 21 Jan 2008 05:48:59 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, 21 Jan 2008 09:13:56 GMT)
Northern Rock leaps on Goldman's mortgage-to-bond plan
LONDON (MarketWatch) -- The British government on Monday confirmed that it's tentatively backing a plan presented by its advisor, Goldman Sachs, to convert Northern Rock mortgages into bonds to fund a private-sector takeover of the troubled mortgage lender. (Mon, 21 Jan 2008 09:16:20 GMT)
Record mortgage lending in 2007
Last year saw the strongest gross mortgage lending to date, but the market is weakening, figures show. (Mon, 21 Jan 2008 10:01:59 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? (Mon, 21 Jan 2008 10:16:15 GMT)
Mortgage lending suffers fall
Mortgage lending slumped to a two-and-a-half year low in December as the credit crunch continued to take its toll on the market. Just £22.6 billion was advanced during the month, the lowest figure since May 2005 and 25% down on November's total, according to the Council of Mortgage Lenders. (Mon, 21 Jan 2008 10:22:19 GMT)
(AFX UK Focus) 2008-01-21 09:56 GMT: Cosmedia Group secures 10 mln usd bank loan to finance Chinese shopping channel
LONDON (Thomson Financial) - Cosmedia Group Holdings Ltd said it has secured a 10 mln usd bank loan to finance its Chinese home shopping channel, which is expected to be launched during the first half. (Mon, 21 Jan 2008 10:24:37 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? (Mon, 21 Jan 2008 10:31:09 GMT)
Community Bankshares restructures mortgage division
Community Bankshares, the parent company of Community Resource Bank, has announced that the bank was restructuring its mortgage division, which operates as Community Resource Mortgage, resulting in the elimination of up to 14 jobs. (Mon, 21 Jan 2008 11:04:34 GMT)
December mortgage lending reaches lowest monthly figure since May 2005
Gross mortgage lending in December reached its lowest monthly figure for over two years, falling 25 per cent from November's figure. (Mon, 21 Jan 2008 11:27:14 GMT)
Auto Loan Refinance = Lower Payments
(ARA) - It is not uncommon for car owners to find themselves in a situation where their car payments become a bigger financial drain than they anticipated. This can happen for many different reasons: job loss, sudden unexpected expenses, or simply because the car payments aren't in line with income. (Mon, 21 Jan 2008 11:41:08 GMT)
Mortgage lending plunges 25pc, says CML
Mortgage lending across the UK plummeted by 25pc last month to its lowest in more than two years, according to the Council of Mortgage Lenders. (Mon, 21 Jan 2008 11:41:50 GMT)
Mortgage Lending Fell To 30-Month Low In December
Mortgage lending slumped to a 30-month low in December as the credit crunch continued to take its toll on the market, figures have shown. (Mon, 21 Jan 2008 11:53:00 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Mon, 21 Jan 2008 11:56:10 GMT)
UK 2007 Gross Mortgage Lending At Record High, But Dec Slumps
LONDON, (Dow Jones)--U.K. gross mortgage lending hit a record high in 2007, but December's total was the weakest monthly figure since mid-2005, due to the global credit crunch, the U.K. Council of Mortgage Lenders said Monday. (Mon, 21 Jan 2008 11:58:08 GMT)
UK Gross Mortgage Lending Falls In December - CML
(RTTNews) - UK's gross mortgage lending dropped 25% month-on-month to an estimated 22.6 billion pounds in December from 29.9 billion pounds in November, the Council of Mortgage Lendors, or CML, said Monday. (Mon, 21 Jan 2008 12:07:56 GMT)
UK Mortgage Approvals Drop In December - BSA
(RTTNews) - UK's mortgage approvals dropped to 3.14 billion pounds in December to 4.23 billion pounds in November, a report from the Building Societies Association, or BSA, showed Monday. (Mon, 21 Jan 2008 12:08:17 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, 21 Jan 2008 14:34:14 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Mon, 21 Jan 2008 14:34:54 GMT)
• Gaining the Best Loan Can Help You Achieve Your Dream Home
Wish to purchase a new home? It maybe the biggest investment that you can make but it would be worth it since you are securing your family’s future. Wanting to purchase a home doesn’t simply mean going out to the market and look for your dream home. (Mon, 21 Jan 2008 14:45:43 GMT)
Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Mon, 21 Jan 2008 15:02:10 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. (Mon, 21 Jan 2008 15:02:20 GMT)
Why Buy a Florida Home Now? Low Mortgage Rates Cut Payments, Say Florida Realtors(R)
Edie Grien-Scherer remembers buying a home in 1980 with an 18 percent mortgage loan. "Five years later, I was able to get the rate down to 14 percent," she said. "By comparison, today's rates remain at historically low levels." (Mon, 21 Jan 2008 16:07:00 GMT)
Two new 2007 tax breaks help homeowners struggling with mortgage payments
In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible. (Mon, 21 Jan 2008 16:17:03 GMT)
FBR mortgage unit files for Ch. 11
First NLC Financial Services LLC, the mortgage origination subsidiary of Friedman, Billings, Ramsey Group Inc., has filed for Chapter 11 bankruptcy protection. (FBR) (COF) (Mon, 21 Jan 2008 17:03:44 GMT)
Q&A - Liverpool refinance plans
BBC's Gordon Farquhar on Liverpool's future (Mon, 21 Jan 2008 17:08:56 GMT)
Carlos Alberto leaves Bremen on loan
Werder Bremen forward Carlos Alberto has returned to Brazil – on loan with São Paulo FC – but will be making "a fresh start" in the Bundesliga in six months' time. (Mon, 21 Jan 2008 17:47:47 GMT)
Nationwide increases mortgage rates
The UK's biggest building society has announced it was increasing some of its mortgage rates for the second time in three months. Nationwide Building Society said it was raising its tracker rates for new borrowers by between 0.05% and 0.15% from January 23. (Mon, 21 Jan 2008 17:52:30 GMT)
Steep fall in mortgage lending
Lenders' struggles to raise funds and the growing gloom over house prices drove gross mortgage lending to its lowest level since May 2005 last month, figures from the Council for Mortgage Lenders showed on Monday. (Mon, 21 Jan 2008 19:35:14 GMT)
Tide of lawsuits approaches troubled U.S. mortgage market
Wall Street banks that sold mortgage investments around the world face legal complaints from as far away as Australia and Norway. (Mon, 21 Jan 2008 20:20:16 GMT)
Call 4 Action: Interest Rates Falling Fast; 2008 Good Year To Refinance
The souring economy isn't all bad news, especially for many of you paying a mortgage or any other large loan. (Mon, 21 Jan 2008 21:46:04 GMT)
Online home loan auctions a world first
Hundreds of Kiwi home owners are auctioning their mortgages on New Zealand's first and only home loan auction website fundit.co.nz. Fundit says it has conducted more than 500 auctions since launching last year. (Mon, 21 Jan 2008 21:57:59 GMT)
Mortgage rules changing for borrowers and lenders
Since 2005, several hundred convicted criminals have applied to the South Carolina Department of Consumer Affairs to become mortgage brokers, according to staff attorney Charles Knight. (Mon, 21 Jan 2008 22:09:31 GMT)
Mortgage Meltdown
If a homeowner is trying to avoid foreclosure, should they refinance their home? (Mon, 21 Jan 2008 23:25:15 GMT)
Mortgage lending sinks to lowest figure since 2005
Mortgage lending tumbled to a two-and-a-half year low in December, figures from the Council of Mortgage Lenders showed yesterday, as the credit crunch kept buyers away from the housing market (Mon, 21 Jan 2008 23:43:26 GMT)
Australians set sights on home ownership despite interest Rate Rises
Rising interest rates and all-time high petrol prices have failed to deter prospective borrowers, with home loan inquiries in January on pace with volumes a year ago following a record December, according to mortgage broker X Inc Finance. (Mon, 21 Jan 2008 23:59:55 GMT)
Mortgage lending tumbles as credit crunch takes toll
Mortgage lending plunged in December and is set to fall further, according to figures which will raise fresh fears about the scale of the damage that the global credit crunch may do to the key housing market. (Tue, 22 Jan 2008 00:14:11 GMT)
Feeling Misled on Home Price, Buyers Are Suing Their Agent
Many regretful or resentful buyers may seek redress from the agents who found them a home and arranged its purchase. (Tue, 22 Jan 2008 02:21:39 GMT)
Steep fall in mortgage lending
Lenders' struggles to raise funds and the growing gloom over house prices drove gross mortgage lending to its lowest level since May 2005 last month, figures from the Council for Mortgage Lenders showed yesterday. (Tue, 22 Jan 2008 02:28:07 GMT)
Florida To Launch Campaign Against Mortgage Fraud
Your home is probably your most valuable asset. We have important information about a new effort to help you keep it. The Florida Attorney General's Office is expected to make a major announcement Tuesday about protecting homeowners from mortgage fraud. (Tue, 22 Jan 2008 03:53:29 GMT)
LETTERS: Mortgage mess
Paul Wenske's Jan. 6 article on the mortgage and housing crisis had some excellent observations on the mortgage mess. (Tue, 22 Jan 2008 04:31:51 GMT)
Seminar looks at mortgage upside
A free workshop Wednesday night will cover investment opportunities that can result from South Sound's growing mortgage foreclosure trend. (Tue, 22 Jan 2008 06:23:08 GMT)
Public Notice - Mortgage Sale - Michael N. Kane
Notice Of Mortgage Foreclosure Sale THIS FIRM IS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION WE OBTAIN WILL BE USED FOR THAT PURPOSE. (Tue, 22 Jan 2008 07:08:01 GMT)
British to ease sale of ailing mortgage lender
The British Treasury said Monday that it would facilitate a sale of the troubled mortgage lender Northern Rock by converting a pool of the company's assets to bonds for sale to investors. (Tue, 22 Jan 2008 08:38:30 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? (Tue, 22 Jan 2008 09:13:51 GMT)
Bank awarded judgment against judge for default on farmland mortgage
CINCINNATI - A southwest Ohio judge who was once removed from the bench for 16 months while fending off a criminal indictment said he defaulted on a farmland mortgage because he used all his available money to pay his defense attorney. (Tue, 22 Jan 2008 11:34:16 GMT)
Nearly 150 Mortgage Operations Collapse in 2007
The failure of almost 150 mortgage operations was chronicled last year by http://www.MortgageGraveyard.com, a journal of failed, ailing and acquired lenders. (Tue, 22 Jan 2008 12:00:00 GMT)
Wachovia Net Falls 98% on Mortgage-Linked Writedowns (Update1)
Jan. 22 (Bloomberg) -- Wachovia Corp., the fourth-largest U.S. bank, said profit fell 98 percent to its lowest since 2001 after writedowns for bad loans and mortgage-backed securities. (Tue, 22 Jan 2008 13:14:10 GMT)
Bank of America Earnings Plummet After Loan Writedown (Update2)
Jan. 22 (Bloomberg) -- Bank of America Corp., the second- largest U.S. bank, said earnings dropped 95 percent after $5.28 billion of mortgage-related writedowns and higher provisions for future loan losses. (Tue, 22 Jan 2008 13:44:11 GMT)
LendingTree Smart Borrower Center Introduces Six Helpful Home Loan Guides
LendingTree has added six new home loan guides to its Smart Borrower Center found at www.lendingtree.com/smartborrower/LendingTree/guides.aspx. (Tue, 22 Jan 2008 13:58:00 GMT)
Learn to profit on mortgage fallout
A free workshop Wednesday night will cover investment opportunities that can result from South Sound's growing mortgage foreclosure trend. (Tue, 22 Jan 2008 14:08:18 GMT)
Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Tue, 22 Jan 2008 14:18:30 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? (Tue, 22 Jan 2008 14:19:43 GMT)
Mortgage, credit woes drain earnings at regional banks
A quartet of regional banks reported steep declines in profit on Tuesday as lenders continued to be knocked by turmoil in credit and mortgage markets. (Tue, 22 Jan 2008 14:32:08 GMT)
What the Fed Cut Means For Your Mortgage
On days like this I think it’s important to go back to the ol’ mortgage primer and figure out exactly what all this news means to you, to your mortgage, to your home equity line and to your home’s financial future. (Tue, 22 Jan 2008 16:05:55 GMT)
Home loans to fall £60
Mortgage bills could be cut after a second day of unprecedented turmoil on the stock markets, it was revealed this afternoon. Londoners with a typical £200,000 home loan will be £64 a month better off if, as expected, the base rate is cut next month by half a point to five per cent. (Tue, 22 Jan 2008 16:08:15 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Tue, 22 Jan 2008 16:41:17 GMT)
Breaking news: Jan. 22, 2008
and cut rates by 75 basis points today. When the Federal Reserve meets and changes rates we all have questions: What does it mean to me? Will my mortgage rate go up or down? Is this a good time to refinance? Bankrate is here to help. (Tue, 22 Jan 2008 17:18:41 GMT)
LendingTree adds home-loan guides to Web site
LendingTree has added six home-loan guides to the Smart Borrower Center on its Web site. (IACI) (Tue, 22 Jan 2008 17:56:21 GMT)
Calif. mortgage defaults hit 15-year high
A new report about California home loans shows mortgage defaults rose to a 15-year high in the state during the fourth quarter of 2007. (Tue, 22 Jan 2008 18:20:41 GMT)
Dyer Mountain Associates claims refinance will prevent trustee sale
Jan. 17, 2007 — The deadline for developers to refinance to prevent sale of the Dyer Mountain Four Season Resort property near Westwood is now Feb. 4, according to a notice of trustees sale filed Jan. 10 in the Lassen County Clerk’s office. (Tue, 22 Jan 2008 19:09:51 GMT)
California mortgage default notices hit 15-year high in 4Q
A new report about California home loans shows mortgage defaults rose to a 15-year high in the state during the fourth quarter of 2007. DataQuick Information Systems says in its report Tuesday that the number of default notices sent to California... (Tue, 22 Jan 2008 19:22:03 GMT)
Almost 150 Mortgage Companies Were Casualties In 2007
(RTTNews) - As historians look back on 2007, one of the lowlights of the economically complicated year will almost certainly be the mountain of mortgage companies that were forced to declare bankruptcy as part of the vicious fallout from the subprime mortgage crisis. (Tue, 22 Jan 2008 19:23:05 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, 22 Jan 2008 19:31:40 GMT)
William R. Owen Joins Sunwest Bank as Senior Vice President of Mortgage Lending
William Owen joined Sunwest Bank (175219;OTCBB:SWBC) as Senior Vice President of the Mortgage Lending Division. (Tue, 22 Jan 2008 19:31:40 GMT)
Fitch Affirms Banc of America Commercial Mortgage, Series 2004-4
Fitch Ratings affirms Banc of America Commercial Mortgage Inc., commercial mortgage pass-through certificates, series 2004-4 as follows: (Tue, 22 Jan 2008 20:07:56 GMT)
California Mortgage Default Notices Surge
A new report about California home loans shows mortgage defaults rose to a 15-year high in the state during the fourth quarter of 2007. (Tue, 22 Jan 2008 20:14:07 GMT)
Federal Home Loan Bank of San Francisco Announces Board of Directors Appointment
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco Board of Directors has selected James F. Burr to fill an open position on the Board effective today. Mr. Burr is Executive Vice President and Corporate Treasurer of Wachovia Mortgage, FSB, North Las Vegas, Nevada. (Tue, 22 Jan 2008 22:35:00 GMT)
Federal Home Loan Bank of San Francisco Announces Board of Directors Appointment
The Federal Home Loan Bank of San Francisco Board of Directors has selected James F. Burr to fill an open position on the Board effective today. Mr. Burr is Executive Vice President and Corporate Treasurer of Wachovia Mortgage, FSB, North Las Vegas, Nevada. The position has a term ending December 31, 2008. (Tue, 22 Jan 2008 22:53:04 GMT)
New Data Shows Increase In SoCal Mortgage Default Notices
The number of mortgage default notices sent to homeowners in Los Angeles County jumped by 82.8 percent in the fourth quarter of 2007 as compared to the same period the previous year, according to data released Tuesday. (Tue, 22 Jan 2008 23:18:19 GMT)
Should Homeowners Consider Refinancing?
It was an emotional rollercoaster for investors Tuesday, as they took a wild, white-knuckle ride on Wall Street. (Tue, 22 Jan 2008 23:28:08 GMT)
Bad economic news good for refinancing
It’s a great time to refinance your mortgage, especially if you don’t have to. (Tue, 22 Jan 2008 23:45:45 GMT)
Should Homeowners Consider Refinancing?
Should you be thinking about refinancing your mortgage? (Tue, 22 Jan 2008 23:46:13 GMT)
CA mortgage defaults hit highest level in 15 years
The number of mortgage default notices sent to homeowners in Riverside County jumped by 118.9 percent in the fourth quarter of 2007 compared to the same period the previous year, while the statewide figure reached its highest level in more than 15 years, according to data released today. (Tue, 22 Jan 2008 23:58:13 GMT)
San Diego County Mortgage Default Notices On Rise
The number of mortgage default notices sent to homeowners in San Diego County nearly doubled during the fourth quarter of 2007. (Wed, 23 Jan 2008 00:42:25 GMT)
Fed cut may not include mortgage rate drop
With interest rates dropping, the re-financing business is picking up, but new home loans aren't moving quite as fast.Mortgage rates may not be included (Wed, 23 Jan 2008 01:55:11 GMT)
Record High Mortgage Defaults for San Diego
The number of mortgage default notices sent to homeowners nearly doubled during the fourth quarter of 2007 over the same period last year. (Wed, 23 Jan 2008 02:30:30 GMT)
Bank of America Joins Parade of Mortgage-Related Losses
The bank cited huge write-downs of mortgage-related securities and higher provisions for future losses in credit card and home equity loans. (Wed, 23 Jan 2008 02:36:53 GMT)
Bank of America profit slide underlines mortgage market woes
The bank blames write-downs of mortgage-related securities and higher provisions for future losses in credit card and home equity loans for its 95 percent tumble in net income. (Wed, 23 Jan 2008 04:09:23 GMT)
OUTLOOK Banco Popular Q4 to show increased non-mortgage lending contribution
MADRID (Thomson Financial) - Banco Popular Espanol SA fourth quarter to December earnings due out today will show a continued increasing contribution from its non-mortgage lending business, while overall lending growth is seen slowing slightly from the third quarter. (Wed, 23 Jan 2008 04:39:57 GMT)
It could be the right time to refinance
Home mortgage rates aren't tied to rates set by the Federal Reserve Board. But a slowing economy already has tempered mortgage rates, and the Fed's dramatic action Tuesday caused some homeowners to question whether it's the right time to refinance. \& (Wed, 23 Jan 2008 04:55:21 GMT)
Rate Cuts Impact Mortgage Rates
A day after the Federal Reserve made an historic rate cut, mortgage rates also fell to near record lows. Short-term rates aren't usually tied to long-term ones like 30 year fixed mortgages. (Wed, 23 Jan 2008 06:06:48 GMT)
Broker in mortgage scam gets 9 years
Calling Michael Kakvand the "primary architect" of a multimillion-dollar mortgage-fraud scheme, a federal judge on Tuesday sentenced the one-time broker to 9 years in prison. (Wed, 23 Jan 2008 06:31:57 GMT)
South Carolina Farm Loan Leader ArborOne Returns $2.7 Million in Profits to 1463 Member-Stockholders
South Carolina farm and home loan cooperative continues tradition of returning profits to its owner-members. Since 1997, ArborOne has paid out over $40 million dollars. (Wed, 23 Jan 2008 07:01:00 GMT)
Banks see refinancing boom
It's a great time to refinance your mortgage, especially if you don't have to. (Wed, 23 Jan 2008 07:02:41 GMT)
Dip in mortgage rates may prove a boon for area
Mortgage rates have fallen to their lowest level in nearly three years as worried investors seek safer places for their money. But the misfortune for investors nationwide may be a small boon to Wichita's banks, home buyers and homeowners. The rate for a benchmark 30-year fixed-rate mortgage has fallen three-quarters of a percentage point over the past month. Last week, it hit 5.68 percent in ... (Wed, 23 Jan 2008 07:09:50 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, 23 Jan 2008 07:47:00 GMT)
South Florida: Woman pleads guilty in mortgage fraud case
A Miramar woman pleaded guilty to 15 counts in a mortgage fraud case Friday in federal court in Fort Lauderdale. (Wed, 23 Jan 2008 08:12:37 GMT)
Rate cut could buttress sagging mortgage industry if consumers rush to refinance
It remains to be seen whether the Federal Reserve's interest rate cut Tuesday will avert a recession. But it's good for Don Christensen. And, to some degree, that was the point of the huge, unexpected cut. (Wed, 23 Jan 2008 08:15:29 GMT)
South Carolina Farm Loan Leader ArborOne Returns $2.7 Million in Profits to 1463 Member-Stockholders
South Carolina farm and home loan cooperative continues tradition of returning profits to its owner-members. Since 1997, ArborOne has paid out over $40 million dollars. (PRWeb Jan 23, 2008) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/SGFsZi1Db3VwLVNpbmctU3F1YS1Mb3ZlLVplcm8= (Wed, 23 Jan 2008 08:43:41 GMT)
Mortgage lender hid big risks, suit alleges
The giant mortgage financer known as Freddie Mac swindled an Ohio pension system out of as much as $27 million by concealing its heavy investments in the battered subprime lending industry, Attorney General Marc Dann alleges in a lawsuit. (Wed, 23 Jan 2008 08:51:55 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. (Wed, 23 Jan 2008 09:13:45 GMT)
Rates fall, interest in refinancing rises
AURORA -- Fox Valley homeowners should consider refinancing to seize on falling interest rates that could slide further in the wake of cuts Tuesday by the Federal Reserve Bank, area financial counselors say. (Wed, 23 Jan 2008 10:39:20 GMT)
Two mortgages separate when refinancing
A second mortgage won't be a factor when determining whether a new first mortgage is a jumbo loan, says Dr. Don Taylor. (Wed, 23 Jan 2008 11:00:00 GMT)
Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether applications rose for the third straight week as borrowers took advantage of lower rates to refinance their mortgages. (Wed, 23 Jan 2008 11:11:06 GMT)
Mortgage Application Volume Rises
Mortgage application volume rose 8.3 percent during the week ending Jan. 18, according to the trade group Mortgage Bankers Association's weekly application survey. (Wed, 23 Jan 2008 12:16:29 GMT)
Refinancing applications continue to rebound, MBA data show
CHICAGO (MarketWatch) -- The volume of mortgage applications filed last week rose a seasonally adjusted 8.3% compared to the prior week as mortgage interest rates continued their decline, the Mortgage Bankers Association reported on Wednesday. (Wed, 23 Jan 2008 12:16:30 GMT)
Bay Area mortgage default notices up in fourth quarter
DEFAULT NOTICES The number of Bay Area homeowners who received "notices of default" from their mortgage lenders rose sharply in the fourth quarter of 2007 compared with the same period a year before, a result of loans in recent years to unqualified buyers, and falling home values and sales. (Wed, 23 Jan 2008 12:31:15 GMT)
Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, We currently have two mortgage loans outstanding for our home. The terms of our first mortgage period (an adjustable rate mortgage) are up and we need to refinance. (Wed, 23 Jan 2008 12:33:58 GMT)
Home loan applications jump as rates fall
Applications for home mortgages jumped for a third consecutive week as plunging interest rates encouraged more homeowners to seek refinancings, an industry group said on Wednesday. (Wed, 23 Jan 2008 12:46:48 GMT)
Mortgage applications rise in latest week
Overall volume jumps 8.3%, spurred by surging refinancings as interest rates drop, according to Mortgage Bankers Association's survey. (Wed, 23 Jan 2008 12:53:52 GMT)
'What Mortgage' publisher warns on profits
Signs that the slowdown in Britain's property market is feeding through to the wider economy came today as the publisher of What Mortgage magazine warned that profits will be below the City's expectations. (Wed, 23 Jan 2008 12:56:51 GMT)
N Rock is 'second mortgage' for us all
Gordon Brown has been criticised for taking on a "dodgy, extra debt" over the bid to find a rescue package for the ailing Northern Rock. In a bruising PMQs in the Commons, Tory leader David Cameron accused the Prime Minister of lumping "every household in this country with a second mortgage". (Wed, 23 Jan 2008 13:07:19 GMT)
United Community Financial Corp. Reports Fourth Quarter Increase in Loan Loss Provision
YOUNGSTOWN, Ohio----United Community Financial Corp. , holding company of The Home Savings and Loan Company and Butler Wick Corp., announced today that it will take a provision for loan losses in the fourth quarter of 2007 of approximately $13.3 million. (Wed, 23 Jan 2008 13:10:00 GMT)
Home loan rates tipped to rise again
Australia's 3 million home buyers are likely to be hit by another interest rate rise - the third in six months - after inflation rises to its highest level in 16 years. (Wed, 23 Jan 2008 13:10:52 GMT)
United Community Financial Corp. Reports Fourth Quarter Increase in Loan Loss Provision
United Community Financial Corp. (Company) (Nasdaq:UCFC), holding company of The Home Savings and Loan Company (Home Savings) and Butler Wick Corp., announced today that it will take a provision for loan losses in the fourth quarter of 2007 of approximately $13.3 million. The provision for the 2007 fourth quarter represents an increase of $12.0 million compared to the $1.3 million provision for ... (Wed, 23 Jan 2008 13:52:48 GMT)
Refinance.com Cuts Mortgage Rates by 0.25% Following Federal Reserve Action
Refinance.com, the nation's premier source for home mortgage refinancing, announced a 0.25 percent reduction to mortgage rates effective immediately in response to the emergency rate cut by the Federal Reserve. (Wed, 23 Jan 2008 13:57:00 GMT)
Loan program helps out with home repairs
Breanna Hurst bought her first home on her own in 2006, but it was slightly less than a dream house. Hurst purchased her home at 138 Wall St. for about $26,000 and considered it ``a mess'' because it needed a lot of work. (Wed, 23 Jan 2008 15:23:12 GMT)
Refinance.com Cuts Mortgage Rates by 0.25% Following Federal Reserve Action
Refinance.com, the nation's premier source for home mortgage refinancing, announced a 0.25 percent reduction to mortgage rates effective immediately in response to the emergency rate cut by the Federal Reserve. (Wed, 23 Jan 2008 17:08:00 GMT)
California Mortgage Defaults Reach 15 Year High
(RTTNews) - DataQuick information systems reported Wednesday that the number of mortgage default notices filed against California homeowners jumped to their highest level in fifteen years, since DataQuick began compiling the data in 1992. (Wed, 23 Jan 2008 17:38:16 GMT)
Sector Snap: Mortgage Insurers
Shares of mortgage insurers plummeted Wednesday after the biggest mortgage insurer said it expects claims to swell this year. (Wed, 23 Jan 2008 17:42:50 GMT)
Refinance.com Cuts Mortgage Rates by 0.25% Following Federal Reserve Action
Refinance.com, the nation's premier source for home mortgage refinancing, announced a 0.25 percent reduction to mortgage rates effective immediately in response to the emergency rate cut by the Federal Reserve. (PRWeb Jan 23, 2008) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/TWFnbi1Db3VwLUxvdmUtQ3Jhcy1Mb3ZlLVplcm8= (Wed, 23 Jan 2008 18:15:38 GMT)
SWBC Mortgage buys new branches, hires over 100 employees
Southwest Business Corp.'s mortgage division has purchased the assets of 15 branches of lender Home Loan Corp. (Wed, 23 Jan 2008 18:16:44 GMT)
Mortgage Application Volumes Rose Last Week
(RTTNews) - Weekly mortgage applications increased in the week ending January 18, according to a report released by the Mortgage Bankers Association (MBA) on Wednesday. (Wed, 23 Jan 2008 18:53:28 GMT)
As mortgage rates plunge, refinancing demand soars
Applications for home mortgages jumped for a third consecutive week as plunging interest rates encouraged more homeowners to seek refinancings, an industry group said Wednesday. (Wed, 23 Jan 2008 18:55:13 GMT)
MGIC sees sharp rise in mortgage defaults
MGIC Investment, the largest mortgage insurer in the US, was trading sharply lower early on Wednesday after disclosing late on Tuesday that delinquent loans on its books rose 18% in the fourth quarter of 2007. (Wed, 23 Jan 2008 19:00:00 GMT)
Refinancing applications rise as rates continue to fall
WASHINGTON – Mortgage applications nationwide rose last week as more homeowners tried to refinance, the Mortgage Bankers Association reported today. (Wed, 23 Jan 2008 19:25:28 GMT)
Mortgage Rates Fall to Lowest Since 2004 on Fed Cut (Update1)
Jan. 23 (Bloomberg) -- U.S. mortgage rates dropped to levels not seen since the middle of the real estate boom in 2004, a day after the Federal Reserve's emergency reduction in interest rates. (Wed, 23 Jan 2008 19:58:59 GMT)
Correction: Mortgage foreclosure story
In a Jan. 19 story about mortgage foreclosures, The Associated Press misstated the number of homes foreclosed by mortgage companies in the state in 2007. There were 7,653 foreclosed homes, not 7,563, according to The Warren Group, a Boston-based publisher of foreclosure information and other real estate data. (Wed, 23 Jan 2008 20:11:15 GMT)
Mortgage Rates Fall to Lowest Since 2004 on Fed Cut (Update2)
Jan. 23 (Bloomberg) -- U.S. mortgage rates fell to a four- year low a day after the Federal Reserve cited a weakening economy in its emergency reduction of the benchmark overnight lending rate. (Wed, 23 Jan 2008 21:44:19 GMT)
Closure of mortgage business, loan losses, lowers Capital One 4Q profit by 42 percent
CHARLOTTE, N.C. - Capital One Financial Corp.'s fourth-quarter profit fell 42 percent, hurt by rising losses on credit card loans and charges from shutting down its GreenPoint Mortgage business, the credit card company said Wednesday. (Wed, 23 Jan 2008 22:30:21 GMT)
Mortgage rates fall even more
Mortgage rates have plunged to levels last seen in the refinance boomlet of 2004. Homeowners are getting the message, contacting lenders and brokers in big numbers. (Wed, 23 Jan 2008 22:48:15 GMT)
Capital One's mortgage pain & gain
Credit card company's fourth-quarter profit falls after shutdown of mortgage business, but base earnings beat estimates. (Wed, 23 Jan 2008 22:53:42 GMT)
Local Federal Home Loan Bank gives $17M in grants
Banks in Ohio, Kentucky and Tennessee will administer more than $16 million in affordable housing grants, the Federal Home Loan Bank of Cincinnati said Wednesday. (Wed, 23 Jan 2008 23:41:51 GMT)
Home loan demand surges to near four-year high
NEW YORK (Reuters) - U.S. mortgage applications surged last week, with demand hitting its highest in nearly four years as interest rates plunged, an industry group said on Wednesday. (Thu, 24 Jan 2008 00:16:04 GMT)
SWBC buys 15 branches from Home Loan Corp.
Southwest Business Corp.'s mortgage company acquired branches in Texas and three other states from Houston's Home Loan Corp. The San Antonio company expects to double its loan origination portfolio to $1 billion over the next 18 months. (Thu, 24 Jan 2008 03:22:10 GMT)
Mortgage Fraud Cases Revisited
More than 30 mortgage fraud indictments that were tossed out are being revisited by a new grand jury. FOX 26's Isiah Carey reports. (Thu, 24 Jan 2008 03:58:45 GMT)
Homeowners shocked to find their houses part of massive mortgage fraud scheme
11 News got a hold of a list with 300 homes, which were allegedly used to cheat mortgage companies out of $40 million in the last three years. (Thu, 24 Jan 2008 04:26:44 GMT)
United Community lifts reserve for loan losses
YOUNGSTOWN — The parent of The Home Savings and Loan Co. in Youngstown said Wednesday it will set aside about $13.3 million in the fourth quarter for loan losses. (Thu, 24 Jan 2008 05:17:57 GMT)
Merrill Lynch Provides $46M Refinance Loan for 28-Story Apartment Building
Jacksonville Fla.--Merrill Lynch Capital is providing a $46 million first mortgage loan to St. Johns Phase I LLC for its recently completed 295-unit, 28-story luxury apartment building, The Strand, located in Jacksonville Fla. (Thu, 24 Jan 2008 07:12:30 GMT)
Mortgage rates at lowest level since 2004
U.S. mortgage rates dropped to levels not seen since the middle of the real estate boom in 2004, a day after the Federal Reserve's emergency reduction in interest rates. (Thu, 24 Jan 2008 07:17:43 GMT)
A rush to refinance
Mortgage rates near 5-year lows, stirring activity This week's Federal Reserve surprise - a sharp cut in its benchmark interest rate - helped push already sinking mortgage rates to their lowest levels in nearly five years. (Thu, 24 Jan 2008 08:42:35 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, 24 Jan 2008 09:13:55 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, 24 Jan 2008 09:55:53 GMT)
Mortgage approvals dive to record low in Dec
Mortgage approvals fell nearly 40 percent to a record low in December, a sign the housing market is slowing sharply due to tighter credit conditions and weaker household finances. (Thu, 24 Jan 2008 10:06:00 GMT)
Refinancing lures, isn't easy
Another mortgage-refinancing boom is under way. But this time around, many homeowners will be watching from the sidelines. (Thu, 24 Jan 2008 10:30:19 GMT)
U.K. December Mortgage Approvals Fall to Decade-Low (Update1)
Jan. 24 (Bloomberg) -- U.K. mortgage approvals dropped an annual 38 percent to the lowest in at least a decade in December as higher interest rates discouraged people from buying homes, the British Bankers' Association said. (Thu, 24 Jan 2008 10:33:18 GMT)
Pain relief for mortgage flare-ups
Lenders, foreclosure-prevention groups and the government are all working to ease the shock of upcoming subprime adjustable rate mortgage resets. But the recent plunge in interest rates will also help consumers. Even so, it won't be enough to save many at-risk ARM borrowers. (Thu, 24 Jan 2008 10:38:42 GMT)
Mortgage rates fall even further this week
Mortgage rates have plunged to levels last seen in the refinance boomlet of 2004. Homeowners are getting the message, contacting lenders and brokers in big numbers. (Thu, 24 Jan 2008 11:00:00 GMT)
U.K. December Mortgage Approvals Fall to Decade-Low (Update2)
Jan. 24 (Bloomberg) -- U.K. mortgage approvals dropped an annual 38 percent to the lowest in at least a decade in December as banks curbed lending and higher interest rates discouraged buyers, the British Bankers' Association said. (Thu, 24 Jan 2008 11:03:15 GMT)
Record lows for mortgage approvals
New mortgage approvals fell to a record low in December and consumers remained cautious about credit card borrowing as tight household finances suppressed demand, the British Bankers Association said on Thursday. (Thu, 24 Jan 2008 11:25:21 GMT)
UK mortgage approvals hit new low
UK mortgage approvals fell to an all-time low in December as potential buyers found it harder to obtain credit, while many were put off by increased borrowing costs. (Thu, 24 Jan 2008 11:47:00 GMT)
Mortgage approvals drop further
The number of mortgage approvals fell to a record low during December, industry figures show. (Thu, 24 Jan 2008 12:02:06 GMT)
Bleak Economy Has Upside for Homeowners
Near-record-low mortgage interest rates prompt more homeowners to refinance. (Thu, 24 Jan 2008 12:49:37 GMT)
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