Mortgage News Feb 2008

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Texas ranks 10th in nation for mortgage fraud
2007 was rife with mortgage fraud, claims Dallas-based Web publication MortgageDaily.com . The site has identified over $4 billion in mortgage fraud nationwide, with fraud in California and Ohio topping its list of states that suffered the most. (Mon, 04 Feb 2008 17:44:05 GMT)

Mortgage fraud task force is announced
In the wake of a series of mortgage fraud indictments handed up last week in federal court, the U.S. attorney's office today announced the creation of a special task force to combat the crime in Western Pennsylvania (Mon, 04 Feb 2008 19:05:04 GMT)

ICICI Bank to fund home loans up to Rs 20 lakh
Keeps low-risk priority lending with itself, leaves big financing to arm. ICICI Bank, the country’s second largest mortgage lender, has decided to split its home loan business between the bank and its wholly owned subsidiary, ICICI Home Finance Company. (Mon, 04 Feb 2008 19:05:18 GMT)

Debate over mortgage loans looms in session
SALEM — As Democrats and Republicans begin its special session today, a few areas could stir some heated debate, including a topic that’s shaping up to be one of the few divisive issues of the session: Reforms to the mortgage lending industry, hard on the heels of the national subprime mortgage collapse. (Mon, 04 Feb 2008 19:34:05 GMT)

Feds charge 24 in mortgage fraud scheme
Federal prosecutors in Pittsburgh have charged 24 people connection with various mortgage fraud schemes (Mon, 04 Feb 2008 20:03:50 GMT)

Feds Charge 24 People In Pittsburgh-Area Mortgage Fraud
Federal prosecutors in Pittsburgh have charged 24 people in connection with various mortgage fraud schemes. (Mon, 04 Feb 2008 20:31:50 GMT)

Mortgage banker pleads guilty in Cunningham bribery case
A federal prosecutor says a New York mortgage broker has pleaded guilty to charges stemming from the corruption case against former San Diego U.S. Rep. Randy "Duke" Cunningham. (Mon, 04 Feb 2008 20:49:42 GMT)

Mortgage banker pleads guilty bribery case
New York mortgage broker has pleaded guilty to charges stemming from the corruption case (Mon, 04 Feb 2008 21:01:03 GMT)

Mortgage Banker Admits Role In Cunningham Case
A New York mortgage broker pleaded guilty to conspiracy and making a false statement to a federal grand jury in connection with the processing of fraudulent loans for ex-congressman Randy "Duke" Cunningham. (Mon, 04 Feb 2008 21:32:25 GMT)

24 People Charged In Pittsburgh-Area Mortgage Fraud
PITTSBURGH -- Federal agents have charged 24 people for allegedly committing mortgage fraud in the greater Pittsburgh area. Owning a home has long been part of the American dream. (Mon, 04 Feb 2008 21:50:20 GMT)

Thornburg Mortgage Reports 4Q Diluted EPS of $0.33
Thornburg Mortgage, Inc. (NYSE: TMA) -- Company returns to profitability with 4Q earnings (Mon, 04 Feb 2008 22:32:18 GMT)

Federal Home Loan Bank of Seattle Declares Fourth Quarter 2007 Dividends
The Board of Directors of the Federal Home Loan Bank of Seattle (Seattle Bank) has declared cash dividends (Mon, 04 Feb 2008 22:47:50 GMT)

Federal Home Loan Bank of Seattle Declares Fourth Quarter 2007 Dividends
The Board of Directors of the Federal Home Loan Bank of Seattle (Seattle Bank) has declared cash dividends on both classes of the Seattle Bank's capital stock. (Mon, 04 Feb 2008 22:58:03 GMT)

Thornburg Mortgage Swings to 4Q Profit
Mortgage lender Thornburg Mortgage Inc. said Monday it swung to a profit in the fourth quarter, after posting a $1 billion loss in the third quarter due to the fallout in the mortgage markets. (Mon, 04 Feb 2008 23:56:50 GMT)

Debate over mortgage loans looms in session
SALEM — As Democrats and Republicans begin its special session today, a few areas could stir some heated debate, including a topic that’s shaping up to be one of the few divisive issues of the session: Reforms to the mortgage lending industry, hard on the heels of the national subprime mortgage collapse. (Tue, 05 Feb 2008 02:19:24 GMT)

CMG Mortgage expands sale of new home ownership accelerator
CMG Mortgage has reported that it has significantly expanded the sales of its home ownership accelerator loan. (Tue, 05 Feb 2008 02:30:46 GMT)

Low mortgage rates make refinancing attractive
Though mortgage lenders are hungry for business, credit standards have tightened. That means some borrowers won't qualify for the lowest rates, and some won't be eligible to refinance at all. (Tue, 05 Feb 2008 02:43:46 GMT)

Mortgage Fraud Probe Nets 24 Arrests, Indictments
The U.S. Attorney's Office announced 24 recent indictments and arrests on charges related to mortgage fraud in the Pittsburgh area. (Tue, 05 Feb 2008 02:55:21 GMT)

Mortgage pain as rates go up
BORROWERS face more mortgage pain after the Reserve Bank decided today to lift interest rates by 25 basis points to an 11-year-high of 7%. It is the 11th consecutive increase since 2002. (Tue, 05 Feb 2008 03:30:00 GMT)

KC area law firms find ways to weather the subprime mortgage storm
The subprime mortgage debacle and resulting credit crunch have slammed the U.S. economy, and the legal world is gearing up to deal with the fallout. (Tue, 05 Feb 2008 04:28:52 GMT)

Metropolitan Place, Manager In Mortgage Foreclosure
MADISON, Wis. -- Two banks have filed mortgage foreclosure actions against one of downtown Madison's luxury condominiums. Metropolitan Place has hundreds of condos and has been a part of downtown Madison for years, reported WISC-TV. (Tue, 05 Feb 2008 04:30:09 GMT)

A home built in a factory in just a few weeks
VIEW SLIDESHOW LOVELAND - If you're having a hard time qualifying for a loan in our tough real estate environment, why not try a little "less" home? You want a home that still delivers good quality, but does so for fewer dollars. (Tue, 05 Feb 2008 05:00:24 GMT)

Mortgage broker pleads guilty to federal charges in Cunningham scandal
SAN DIEGO - A New York mortgage broker pleaded guilty today to conspiracy and making a false statement to a federal grand jury in connection with the processing of fraudulent loans for ex-congressman Randy "Duke" Cunningham's home in Rancho Santa Fe. (Tue, 05 Feb 2008 05:11:28 GMT)

Video: Task force will delve into mortgage fraud
U.S. Attorney Mary Beth Buchanan yesterday announced the formation of a local, state and federal joint task force to delve into what she said are scores of cases of mortgage fraud. (Tue, 05 Feb 2008 05:39:47 GMT)

KC area law firms find ways to weather the subprime mortgage storm
The subprime mortgage debacle and resulting credit crunch have slammed the U.S. economy, and the legal world is gearing up to deal with the fallout. (Tue, 05 Feb 2008 05:48:39 GMT)

Mortgage Refinancing Business Picks Up
Low interest rates have sparked a flurry of home refinancing, giving the mortgage industry a shot in the arm it needed to cope with an anemic housi.... (Tue, 05 Feb 2008 06:13:19 GMT)

Mortgage MD Blog: 'New Types of Property Ownership Opening Up Vacation Market to Masses'
Baby Boomers tap home equity to invest in vacation homes, says mortgage planner Ray Avanzino. (Tue, 05 Feb 2008 07:01:00 GMT)

Letters to the Editor
'Jumbo loans' would rightly help high cost-of-living areasIn response to your Feb. 1 editorial, "A housing rescue too far": Increasing loan limits in high-cost areas does not go too far in my opinion. I understand that folks who live in a $200,000 median home price area consider a $600,000 house "upper middle class." But this is lower middle class in many high-cost areas. (Tue, 05 Feb 2008 08:00:00 GMT)

Brokers oppose mortgage-reform bill
Sen. Ben Westlund's plan to reform Oregon's mortgage lending laws may need its own reforms if he wants to win legislative approval. (Tue, 05 Feb 2008 08:11:09 GMT)

Mortgage MD Blog: 'New Types of Property Ownership Opening Up Vacation Market to Masses'
Baby Boomers tap home equity to invest in vacation homes, says mortgage planner Ray Avanzino. (PRWeb Feb 5, 2008) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/RmFsdS1Db3VwLVBpZ2ctRW1wdC1aZXRhLVplcm8= (Tue, 05 Feb 2008 08:19:44 GMT)

Mortgage stress pushes families into crisis
Mortgage stress brought on by today’s interest rate rise could push middle income families “into crisis”, increasing pressure at home and in the community, according to the Western Australian Council of Social Service. (Tue, 05 Feb 2008 08:44:48 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, 05 Feb 2008 09:15:41 GMT)

Prime Mortgage files for bankruptcy
SOUTHBORO - Prime Mortgage Financial Inc., which was once a top local mortgage company with more than $1 billion in loans during the housing boom, has filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Worcester. (Tue, 05 Feb 2008 09:41:44 GMT)

Mortgage banker pleads guilty in Cunningham bribery case
SAN DIEGO -- A federal prosecutor says a New York mortgage broker has pleaded guilty to charges stemming from the corruption case against former San Diego Congressman Randy "Duke" Cunningham. (Tue, 05 Feb 2008 11:21:27 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Tue, 05 Feb 2008 11:40:56 GMT)

Marion Township woman charged in mortgage fraud scheme
PITTSBURGH — Two dozen individuals, including one from Marion Township, have been charged in connection with alleged mortgage fraud schemes in western Pennsylvania. (Tue, 05 Feb 2008 12:45:20 GMT)

Canbank cuts home loan rates
Canara bank slashed interest rates for home loans by 25 basis points. (Tue, 05 Feb 2008 13:23:32 GMT)

Mortgage Fraud Rising in Las Vegas
The FBI is cracking down on improper subprime lending. But there's a new worry as turmoil in the real estate market spreads: mortgage fraud. In Las Vegas, the number of fraud cases is rising, and the city is gaining a reputation as the mortgage fraud capital of the U.S. (Tue, 05 Feb 2008 13:59:19 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, 05 Feb 2008 14:16:44 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, 05 Feb 2008 14:16:54 GMT)

GMAC Financial Services posts $724M loss due to mortgage lending
NEW YORK - GMAC LLC said Tuesday it lost $724 million in the final quarter of 2007 as the housing slump and disruptions in the credit and capital markets battered the lender's home mortgage division. (Tue, 05 Feb 2008 14:17:20 GMT)

Debate over mortgage loans looms in session
SALEM — As Democrats and Republicans begin its special session today, a few areas could stir some heated debate, including a topic that’s shaping up to be one of the few divisive issues of the session: Reforms to the mortgage lending industry, hard on the heels of the national subprime mortgage collapse. (Tue, 05 Feb 2008 14:34:25 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, 05 Feb 2008 14:59:06 GMT)

S&P Seeks Further Mortgage Details
Credit rating agency Standard & Poor's said Tuesday it is requesting comments from mortgage and investment market participants on its proposal to have issuers provide more detailed information on mortgage-backed securities. (Tue, 05 Feb 2008 17:14:26 GMT)

GMAC Posts $724 Million Loss as Mortgage Loans Sour (Update4)
Feb. 5 (Bloomberg) -- GMAC LLC, the auto and mortgage lending company 49 percent owned by General Motors Corp., posted a $724 million fourth-quarter loss as bad loans in the U.S. rose to a record. (Tue, 05 Feb 2008 17:52:28 GMT)

The Hindu Business Line : Canara Bank cuts home loan rates
Canara Bank reduced its home loan rates by 25 basis points across the board. A bank release said the reduction would take effect from February 7. The reduction would be applicable for existing floating rate borrowers as well, the release added. (Tue, 05 Feb 2008 18:14:23 GMT)

S&P seeks comments on mortgage proposal
Credit rating agency proposes plan requiring more loan-level details for mortgage-backed securities. (Tue, 05 Feb 2008 18:30:01 GMT)

Cibil moves to curb home loan frauds
Plans database of mortgaged properties. Banks would soon be able to determine whether a property is already mortgaged when a borrower approaches them for a loan against it and this would help in checking the increasing instances of housing loan frauds. (Tue, 05 Feb 2008 18:49:37 GMT)

Kidney kingpin paid home loan amount for Feb
He may be on the run, but kidney transplant racket kingpin Dr Amit Kumar has not defaulted for the February loan payment for the mansion he bought in Canada last year for his family. (Tue, 05 Feb 2008 20:44:32 GMT)

U.S. mortgage woes lead to large GMAC loss
Continuing losses in the U.S. mortgage industry drove Detroit-based lender GMAC LLC to report a $724-million fourth-quarter loss on Tuesday, down from a $1-billion profit a year ago. (Tue, 05 Feb 2008 20:53:33 GMT)

SPECIAL REPORT: Mortgage Bankers Conference's Opening Session Places Positive Spin on Credit Turmoil
Orlando, Fla.--While uncertainty swirls over the credit crisis in the financial markets, the Mortgage Bankers Association’s (MBA) Commercial Real Estate Finance/Multifamily Housing Convention & Expo opened on a note of good spirits, evident in the general session address by Kieran Quinn, MBA chairman. (Tue, 05 Feb 2008 21:05:18 GMT)

New Hartford Offers Home Rehab Loan
The town of New Hartford has announced it is launching a new loan program to assist homeowners in renovating their homes. (Tue, 05 Feb 2008 21:34:28 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? (Tue, 05 Feb 2008 22:44:53 GMT)

Mortgage broker admits money laundering
A mortgage broker has pleaded guilty to money laundering in California, admitting he helped funnel a bribe to former U.S. Rep. Randy Cunningham. (Tue, 05 Feb 2008 23:58:18 GMT)

Home loan hell - but not for bank staff
THE home loan hell continues this morning, with a major bank hiking its rates even further - but Reserve Bank staff are enjoying bargain deals. (Wed, 06 Feb 2008 00:40:00 GMT)

Home loan hell - but not for bank staff
THERE'S one group who won't be bothered about swollen interest rates - the lucky Reserve Bank staff enjoying bargain home loans at 4.33 per cent. (Wed, 06 Feb 2008 00:40:00 GMT)

Commonwealth Bank lifts home loan rate by 30 bps
SYDNEY, Feb 6 - Commonwealth Bank of Australia Ltd , the nation's biggest mortgage lender, said on Wednesday it would raise home loan rates by 30 basis points, exceeding the 25 basis point rise in official cash rates announced the previous day. (Wed, 06 Feb 2008 01:07:36 GMT)

Commonwealth Bank lifts home loan rate by 30 bps
SYDNEY, Feb 6 (Reuters) - Commonwealth Bank of Australia Ltd CBA.AX, the nation's biggest mortgage lender, said on Wednesday it would raise home loan rates by 30 basis points, exceeding the 25 basis point rise in official cash rates announced the previous day. (Wed, 06 Feb 2008 01:08:13 GMT)

New Report: Las Vegas Hit Hardest by Mortgage Meltdown
The mortgage meltdown is hitting the valley hard. According to a new report , foreclosures hit the Las Vegas area more than any other region, and we have it broken down for you by zip code. (Wed, 06 Feb 2008 03:59:47 GMT)

Mortgage fraud escalates
Mortgage fraud passed $4 billion in 2007, a dramatic increase from $1.6 billion in 2006, according to a report by MortgageDaily.com. (Wed, 06 Feb 2008 04:29:12 GMT)

What Caused Home the Mortgage Market to Go Out of Control?
The mortgage market used to be a segregated, regional, illiquid and low margin but simple business. (Wed, 06 Feb 2008 04:58:57 GMT)

Mortgage fraud soared last year
Mortgage fraud passed $4 billion in 2007, a dramatic increase from $1.6 billion in 2006, according to a report by MortgageDaily.com. (Wed, 06 Feb 2008 05:54:16 GMT)

Mortgage fraud felony moves forward
The Senate is getting serious about punishing mortgage fraud. (Wed, 06 Feb 2008 07:45:23 GMT)

Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether applications rose for the fifth-straight week as borrowers took advantage of attractive rates to refinance. (Wed, 06 Feb 2008 11:32:45 GMT)

Mortgage Application Volume Rises
Mortgage application volume increased 3 percent during the week ending Feb. 1, according to the trade group Mortgage Bankers Association's weekly application survey. (Wed, 06 Feb 2008 12:13:24 GMT)

Dollar Steady To Euro Amid Release Of MBA Mortgage Data
(RTTNews) - The dollar was little changed versus the euro amid the release of data showing that US MBA Mortgage Applications increased by 3% last week. The dollar traded at 1.4623 shortly after 7 am ET, having eased slightly from a 2-week high 1.4591. (Wed, 06 Feb 2008 12:20:13 GMT)

EMB MBA mortgage application index up 3.0 pct for week ending February 1
WASHINGTON (Thomson Financial) - A weekly survey of financial companies in the mortgage industry said mortgage applications rose in the week ending February 1, while mortgage refinance applications dropped slightly. (Wed, 06 Feb 2008 12:30:47 GMT)

U.S. MBA's Mortgage Applications Index Rose 3% Last Week
Feb. 6 (Bloomberg) -- Mortgage applications in the U.S. increased for a fifth consecutive week, led by a rebound in purchases. (Wed, 06 Feb 2008 12:36:58 GMT)

Marion Township woman charged in mortgage fraud scheme
PITTSBURGH — Two dozen individuals, including one from Marion Township, have been charged in connection with alleged mortgage fraud schemes in western Pennsylvania. (Wed, 06 Feb 2008 12:43:16 GMT)

Mortgage applications increase slightly
Volume up 3% on growth in purchase applications, MBA's weekly survey says; refinance volume down 1%. (Wed, 06 Feb 2008 12:45:01 GMT)

Mortgage applications rose 3% last week: MBA
Applications for mortgages rose a seasonally adjusted 3% last week compared with the previous week, reflecting a pick-up in filings in applications for loans to buy homes, the Mortgage Bankers Association reported on Wednesday. Interest rates on fixed-rate loans increased last week, while the average rate for one-year adjustable-rate mortgages dropped, according to MBA's weekly survey. ... (Wed, 06 Feb 2008 12:58:49 GMT)

IAC loses $369.9M on mortgage woes
Barry Diller's IAC/InterActiveCorp reported Wednesday that it lost $369.9 million in its fourth quarter, due to higher taxes, difficulty in its mortgage referral unit and restructuring costs for proposed spinoffs that would make five companies out of one. (Wed, 06 Feb 2008 13:08:45 GMT)

Economic Blast: Mortgage Activity Up, as is Productivity
In another bit of good news from the world of homebuilders, the U.S. Mortgage Bankers Association said its weekly market index rose 3% to 1,086.9...( Read More ) (Wed, 06 Feb 2008 13:47:01 GMT)

Mortgage Volume Rises On Increase In Purchase Activity
(RTTNews) - Industry data released on Wednesday showed a mild increase in mortgage activity last week. A jump in mortgage purchases bolstered the market, despite a mild retreat in refinancing activity. (Wed, 06 Feb 2008 14:06:57 GMT)

IAC Posts Loss Amid Mortgage Woes
The company reported a loss of $369.9 million in its fourth quarter, citing higher taxes, difficulty in its mortgage referral unit and costs for proposed spinoffs that would make five companies out of one. . (Wed, 06 Feb 2008 14:39:09 GMT)

Mortgage application volume rises
Mortgage application volume increased 3 percent during the week ending Feb. 1, according to the trade group Mortgage Bankers Association's weekly application survey. (Wed, 06 Feb 2008 14:47:34 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, 06 Feb 2008 15:01:07 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, 06 Feb 2008 15:01:39 GMT)

Mortgage Volume Rises With An Increase In Purchase Activity
(RTTNews) - Industry data released on Wednesday from the Mortgage Bankers Association showed a mild increase in mortgage activity last week. A jump in mortgage purchases bolstered the market, despite a mild retreat in refinancing activity. (Wed, 06 Feb 2008 15:50:14 GMT)

Mortgage referral difficulties, spinoff costs lead Diller's IAC to $369.9M loss in Q4
NEW YORK - Barry Diller's IAC/InterActiveCorp reported Wednesday that it lost US$369.9 million in its fourth quarter, due to higher taxes, difficulty in its mortgage referral unit and costs for proposed spinoffs that would make five companies out of one. Its shares tumbled four per cent in morning trading. (Wed, 06 Feb 2008 16:33:00 GMT)

Goldman hungry to buy distressed mortgage debt
Goldman Sachs Chief Financial Officer David Viniar says the firm wants to be a buyer of distressed mortgage debt. (Wed, 06 Feb 2008 16:44:46 GMT)

UPDATE: Goldman Hungry To Buy Distressed Mortgage Debt
LONDON (Dow Jones) -- Goldman Sachs Chief Financial Officer David Viniar said Wednesday that the firm wants to be a buyer of distressed mortgage debt. (Wed, 06 Feb 2008 17:05:10 GMT)

Senate unlikely to up mortgage bond cap: Schumer
The Senate will likely drop a measure to issue additional tax-exempt mortgage bonds from its fiscal stimulus package, but the bonds will appear in a future bill, the chairman of the Joint Economic Committee of Congress told Reuters on Wednesday. (Wed, 06 Feb 2008 17:23:51 GMT)

Home purchases rise, boosing mortgage applications
WASHINGTON – Mortgage applications last week rose for the fifth consecutive week, led by a rebound in home purchases, the Mortgage Bankers Association reported today. (Wed, 06 Feb 2008 17:48:49 GMT)

Senate unlikely to up mortgage bond cap: Schumer
WASHINGTON (Reuters) - The Senate will likely drop a measure to issue additional tax-exempt mortgage bonds from its fiscal stimulus package, but the bonds will appear in a future bill, the... (Wed, 06 Feb 2008 17:59:01 GMT)

Federal Home Loan Bank of Atlanta Announces New Advisory Council Members
Federal Home Loan Bank of Atlanta announced today that it has appointed three new members to its Affordable Housing Advisory Council. Council members will serve three-year terms that began Jan. 1, 2008. (Wed, 06 Feb 2008 19:00:00 GMT)

Mayor Sanders Urges to Increase Conforming Home Loan Limit
Mayor Jerry Sanders sent a letter to Senate Majority Leader Harry Reid, urging support for a temporary increase for conforming loan limits in high-cost housing areas like San Diego. (Wed, 06 Feb 2008 19:06:20 GMT)

Mayor Asks Senate For Home Loan Support
Mayor Jerry Sanders sent a letter Wednesday to Senate Majority Leader Harry Reid, urging support for a temporary increase for conforming loan limits in high-cost housing areas like San Diego. (Wed, 06 Feb 2008 19:47:17 GMT)

IAC loses $369.9M on mortgage woes
Barry Diller's IAC/InterActiveCorp lost $369.9 million in the fourth quarter, on a big writedown at its mortgage referral business, tax expenses and costs in anticipation of the proposed spinoff of four businesses. (Wed, 06 Feb 2008 19:52:21 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, 06 Feb 2008 20:26:04 GMT)

Home loan applications skyrocket in the US
US mortgage applications rose last week to the highest level in nearly four years, fuelled by demand for home purchase loans as interest rates hovered near recent lows, an industry group said overnight. (Wed, 06 Feb 2008 21:16:00 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? (Wed, 06 Feb 2008 21:25:54 GMT)

IAC loses $369.9M on mortgage woes
Barry Diller's IAC/InterActiveCorp lost $369.9 million in the fourth quarter, on a big writedown at its mortgage referral business, tax expenses and costs in anticipation of the proposed spinoff of four businesses. (Wed, 06 Feb 2008 21:39:14 GMT)

Mortgage Brokers Group Lobbied on Reform
The National Association of Mortgage Brokers paid Porterfield & Lowenthal $140,000 in the second half of 2007 to lobby the federal government, according to a disclosure form. (Wed, 06 Feb 2008 21:44:01 GMT)

Home or Car Loan?
We have $6000 in savings. Should we put it on the home loan or the car loan? Combined weekly earnings: Net $776 Weekly expenses: $714 Mortgage: $140,409 (fixed at 6.79%) Car loan: $9367 (fixed at 12% for seven years, no early pay out penalties) Savings: $6017. (Wed, 06 Feb 2008 23:10:00 GMT)

Home loan rates over 9pc
HOME loan rates crossed the 9 per cent mark for the first time in over a decade, with BankSA parent St George hiking variable rates by 25 basis points, trailing Westpac and Commonwealth Bank. (Thu, 07 Feb 2008 00:15:00 GMT)

Home loan rates over 9pc
HOME loan rates crossed the 9 per cent mark for the first time in over a decade, with BankSA parent St George hiking variable rates by 25 basis points, trailing Westpac and Commonwealth Bank. (Thu, 07 Feb 2008 00:15:00 GMT)

'Greedy' banks push up mortgage rates
Banks and building societies have been accused of profiteering after official figures showed that they had raised millions of their customers' mortgage bills before an expected cut in interest rates by the Bank of England. (Thu, 07 Feb 2008 02:08:46 GMT)

Mayor Sanders asks for special home loan consideration in San Diego
SAN DIEGO -- Mayor Jerry Sanders sent a letter to Senate Majority Leader Harry Reid, urging support for a temporary increase for conforming loan limits in high-cost housing areas like San Diego. (Thu, 07 Feb 2008 04:11:19 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, 07 Feb 2008 04:13:50 GMT)

States Say Mortgage Companies Fall Short on Loan Modification
Mortgage companies have stepped up their efforts to work with delinquent borrowers, but their actions aren't keeping up with the rapid rise in bad loans, a new study by state officials suggests. (Thu, 07 Feb 2008 04:16:04 GMT)

Bendigo Bank increases home loan rates
Bendigo Bank has also announced it is passing on the increase in official interest rates to its home loan and business customers. (Thu, 07 Feb 2008 05:23:00 GMT)

Bendigo Bank increases home loan rates
Bendigo Bank has also announced it is passing on the increase in official interest rates to its home loan and business customers. (Thu, 07 Feb 2008 05:23:00 GMT)

You May Not Want to Wait to Refinance That Mortgage
Don't let Fed rate cuts fool you -- the best time to refinance may be now. (Thu, 07 Feb 2008 06:47:47 GMT)

Commercial Finance Advisors Closes $475,000 Commercial Mortgage Refinance
Commercial Finance Advisors, Inc, closes $475,000 commercial mortgage refinance. Loan program was a commercial 30 year fixed, on a 9 unit, mixed use building in downtown Ferndale, Michigan. (Thu, 07 Feb 2008 07:01:00 GMT)

Commercial Finance Advisors Closes $475,000 Commercial Mortgage Refinance
Commercial Finance Advisors, Inc, closes $475,000 commercial mortgage refinance. Loan program was a commercial 30 year fixed, on a 9 unit, mixed use building in downtown Ferndale, Michigan. (PRWeb Feb 7, 2008) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/SW5zZS1FbXB0LU1hZ24tSW5zZS1aZXRhLVplcm8= (Thu, 07 Feb 2008 08:43:29 GMT)

Free forum will discuss refinancing
The Delaware Community Reinvestment Action Council Inc. will host a free community forum, "Refinancing & Other Options to Save Your Home," on Feb. 21 from 6 to 8 p.m. at the Howard High School of Technology at 401 E. 12th St. in Wilmington. (Thu, 07 Feb 2008 08:57:55 GMT)

Mortgage applications shoot up
The desire to refinance at a lower rate leads to a surge in demand, but that doesn't mean the loans are being granted. More people are applying for home loans, but that doesn't mean they are getting them. (Thu, 07 Feb 2008 09:31:25 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, 07 Feb 2008 10:14:42 GMT)

Refinancing isn't a no-brainer
Mortgage rates are dropping and you're one of the lucky few with equity and good credit. You can refinance, but should you? Here are the questions to ask yourself. (Thu, 07 Feb 2008 11:00:00 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, 07 Feb 2008 11:58:31 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Thu, 07 Feb 2008 11:58:41 GMT)

Trial date set in mortgage fraud case
A mortgage fraud lawsuit that prompted a two-day Tribune series in January 2007 will go to trial this fall if the parties don't reach a settlement by then. (Thu, 07 Feb 2008 12:09:06 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, 07 Feb 2008 12:13:31 GMT)

Refinancing isn't a no-brainer
Sure, you could refinance your mortgage. But should you? The answer depends primarily on your personal circumstances, including the interest rate and terms of your current mortgage, and how long you expect to continue to own your home. (Thu, 07 Feb 2008 12:35:38 GMT)

Big Mortgage Lenders Pass On Rates Cut
THE UK's biggest mortgage lenders were quick to announce they would be passing on today's interest rate cut in full. (Thu, 07 Feb 2008 12:35:52 GMT)

Mortgage rates fall, refi boomlet continues
Mortgage rates fell this week, keeping a refinancing boomlet alive. (Thu, 07 Feb 2008 12:36:43 GMT)

Marion Township woman charged in mortgage fraud scheme
PITTSBURGH — Two dozen individuals, including one from Marion Township, have been charged in connection with alleged mortgage fraud schemes in western Pennsylvania. (Thu, 07 Feb 2008 12:41:23 GMT)

(AFX UK Focus) 2008-02-07 12:42 GMT: BoE rate cut won't be instantly reflected in mortgage rates - CML
LONDON (Thomson Financial) - The Bank of England's interest rate cut will not lead to an automatic reduction in the cost of mortgages, according to the Council of Mortgage Lenders. (Thu, 07 Feb 2008 13:09:52 GMT)

Abbey benefits from changing mortgage market
Abbey, which was taken over by Spain's Santander in 2004, looks like one of the winners of the Northern Rock debacle as it reported a 12% rise in full year net mortgage lending. (Thu, 07 Feb 2008 13:54:00 GMT)

EFX Mortgage Biz Keeps It a Hold
Continued weakness in mortgage activity has resulted in a 7.8% decline in mortgage related revenues in 2007. (Thu, 07 Feb 2008 14:04:09 GMT)

Mortgage lenders match rate cut
A number of major mortgage lenders have announced cuts to match the Bank of England base rate fall. (Thu, 07 Feb 2008 14:32:21 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, 07 Feb 2008 15:01:02 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, 07 Feb 2008 15:44:05 GMT)

Mortgage rates flat on recession fears
Mortgage rates were flat this week, following a disappointing service sector report, Freddie Mac said Thursday. (Thu, 07 Feb 2008 16:00:08 GMT)

U.S. mortgage rates fall slightly
CHICAGO (MarketWatch) -- Most mortgage rates fell only slightly this week, remaining well below their year-ago levels, according to Freddie Mac's weekly survey, released on Thursday. (Thu, 07 Feb 2008 16:13:39 GMT)

It's Time to Buy, Time to Refinance, Time to Build
NEW ORLEANS----Mortgage interest rates are at their lowest level in several years, so a leading Gulf Coast mortgage lender has some words of advice for consumers: It's time to buy, time to refinance and time to build. (Thu, 07 Feb 2008 16:16:00 GMT)

Great Wolf takes out $55M mortgage on resort
Great Wolf Resorts Inc. of Madison said late Wednesday that it closed on a $55 million mortgage loan on its Williamsburg, Va., Great Wolf Lodge resort to provide cash for its "current development objectives." (Thu, 07 Feb 2008 18:14:20 GMT)

PNB Housing cuts home loan rates by 50 bps
PNB Housing Finance, a subsidiary of Punjab National Bank, today reduced home loan rates by 50 basis points for new borrowers. (Thu, 07 Feb 2008 18:48:52 GMT)

Mortgage Rates Dip Again
Rates on 30-year mortgages dipped slightly this week, the fifth decline in the past six weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.67 percent this week, down from 5.68 percent last week. (Thu, 07 Feb 2008 19:22:39 GMT)

Mortgage Rates Dip Again
Rates on 30-year mortgages dipped slightly this week, the fifth decline in the past six weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.67 percent this week, down from 5.68 percent last... (Thu, 07 Feb 2008 19:53:19 GMT)

Commercial Finance Advisors Closes $475,000 Commercial Mortgage Refinance
Commercial Finance Advisors, Inc, closes $475,000 commercial mortgage refinance. Loan program was a commercial 30 year fixed, on a 9 unit, mixed use building in downtown Ferndale, Michigan. (PRWeb Feb 7, 2008) Read the full story at http://www.prweb.com/releases/commercial+refinance/loan+refinance/prweb681734.htm (Thu, 07 Feb 2008 21:02:03 GMT)

Navarro County grand jury indicts 3 in mortgage fraud scheme 3:09 PM CT
A Navarro County grand jury indicted three individuals alleging they had created a mortgage fraud scheme that spanned four counties. (Thu, 07 Feb 2008 21:32:30 GMT)

Fed Home Loan Bank of S.F. to host foreclosure workshop
The Federal Home Loan Bank of San Francisco will sponsor a homeowner foreclosure-prevention workshop this weekend in Oakland. (Thu, 07 Feb 2008 21:42:39 GMT)

Mortgage lenders follow Bank of England's lead by cutting interest rates
Lenders rushed to slash mortgage costs yesterday after the Bank of England cut interest rates for the second time in three months. Within hours of the Bank's announcement at noon, nine of the top ten lenders said they would pass the full quarter-point cut to their borrowers. (Thu, 07 Feb 2008 23:35:48 GMT)

Mayor Sanders asks for special home loan consideration in San Diego
SAN DIEGO -- Mayor Jerry Sanders sent a letter to Senate Majority Leader Harry Reid, urging support for a temporary increase for conforming loan limits in high-cost housing areas like San Diego. (Fri, 08 Feb 2008 03:30:39 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Fri, 08 Feb 2008 03:56:18 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, 08 Feb 2008 04:12:06 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? (Fri, 08 Feb 2008 04:12:16 GMT)

MGIC tightens mortgage insurance coverage
LOCALMGIC tightens mortgage insurance coverageMGIC Insurance Corp. is tightening guidelines for issuing mortgage insurance as well as restricting coverage in a number of markets across the country in an effort to deal w... (Fri, 08 Feb 2008 04:24:22 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, 08 Feb 2008 04:40:58 GMT)

Calculate numbers before refinancing
Mortgage rates fell this week, keeping a refinancing boomlet alive. The benchmark 30-year fixed-rate mortgage fell 10 basis points, to 5.78 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. ... (Fri, 08 Feb 2008 05:14:37 GMT)

NAB lifts variable home loan rate
National Australia bank has lifted the interest rate on its variable home loan products by 29 basis points. (Fri, 08 Feb 2008 05:21:11 GMT)

NAB lifts variable home loan rate
National Australia bank has lifted the interest rate on its variable home loan products by 29 basis points. (Fri, 08 Feb 2008 05:21:11 GMT)

NAB lifts variable home loan rate
National Australia bank has lifted the interest rate on its variable home loan products by 29 basis points. (Fri, 08 Feb 2008 05:21:11 GMT)

NAB lifts variable home loan rate
National Australia bank has lifted the interest rate on its variable home loan products by 29 basis points. NAB's standard variable rate will increase be 8.98 per cent. (Fri, 08 Feb 2008 05:38:45 GMT)

Royal Consultants Offers Low Rates for New York Mortgage Holders, as well as Connecticut and Massachusetts
Royal Consultants offers new hope in mortgage refinancing. (Fri, 08 Feb 2008 07:01:00 GMT)

Sanders Petitions Congress To Increase Home Loan Limit
SAN DIEGO -- San Diego Mayor Jerry Sanders urged Congress to support a temporary increase in home loan interests in pricey areas Thursday. The mayor sent a letter to Senate Majority Leader Harry Reid asking for the increase, which is part of President George W. Bush’s economic stimulus package. (Fri, 08 Feb 2008 07:03:33 GMT)

Mortgage rates fall fifth time in 6 weeks
Mortgage rates dipped slightly this week, but continued news of a weakening economy signals more softness ahead for the housing market, industry experts said Thursday. (Fri, 08 Feb 2008 07:21:57 GMT)

First Magnus execs plan new mortgage firm
Executives from the bankrupt First Magnus Financial Corp. are starting a new mortgage company, corporate filings show. (Fri, 08 Feb 2008 07:36:55 GMT)

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