Mortgage News Feb 2008

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Mortgage crisis fallout spreads to 'muni market'
The subprime mortgage crisis continues to ripple well beyond home foreclosures. (Fri, 08 Feb 2008 08:00:00 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. (PRWeb Feb 8, 2008) Read the full story at http://www.prweb.com/releases/2008/02/prweb683683.htm (Fri, 08 Feb 2008 08:14:25 GMT)

Mortgage bill altered but still opposed
Facing fierce industry opposition, backers of an ambitious mortgage reform bill on Thursday unveiled a rewritten and slightly watered-down version of the proposed legislation. (Fri, 08 Feb 2008 08:26:16 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 09:14:03 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 10:09:32 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, 08 Feb 2008 10:23:45 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 10:23:55 GMT)

Refinancing: Only for the privileged few
The good news: mortgage rates are down and applications for refinancings are up. The bad news: it's much harder to qualify for a refinanced loan these days. (Fri, 08 Feb 2008 10:55:55 GMT)

U.K. Mortgage Repossessions Reach Highest Since 1999 (Update1)
Feb. 8 (Bloomberg) -- U.K. housing repossessions reached the highest since 1999 last year and will increase further this year as banks curb lending and the economy slows, the Council for Mortgage Lenders said. (Fri, 08 Feb 2008 10:59:21 GMT)

U.K. Mortgage Repossessions Reach Highest Since 1999 (Update1)
Feb. 8 (Bloomberg) -- U.K. housing repossessions reached the highest since 1999 last year and will increase further this year as banks curb lending and the economy slows, the Council for Mortgage Lenders said. (Fri, 08 Feb 2008 11:01:29 GMT)

England/Wales Q4 mortgage repossession orders up 6 pct on yr ago - govt
LONDON (Thomson Financial) - The number of orders for mortgage repossessions in England and Wales rose in the fourth quarter, government figures showed. (Fri, 08 Feb 2008 11:28:01 GMT)

U.S. reportedly widens mortgage probe; Merrill data sought
LONDON (MarketWatch) -- Federal prosecutors, expanding their look into Wall Street firms' mortgage businesses, have asked the Securities and Exchange Commission for information that the agency has collected on Merrill Lynch & Co., The Wall Street Journal reported Friday. (Fri, 08 Feb 2008 12:30:04 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. (Fri, 08 Feb 2008 12:38:56 GMT)

NAB slaps home-loan borrowers
NATIONAL Australia Bank has joined Commonwealth Bank in a controversial move to raise rates on variable home mortgages by more than the official rise announced by the Reserve Bank on Tuesday. (Fri, 08 Feb 2008 13:00:00 GMT)

NAB slaps home-loan borrowers
NAB has joined the CBA to raise variable home-loan rates by more than the Reserve Bank's rate hike, taking mortgage rates to 9pc. (Fri, 08 Feb 2008 13:00:00 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Fri, 08 Feb 2008 13:08:34 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 13:55:51 GMT)

FICO: Don't blame us for mortgage mess
If you've applied for a mortgage, auto loan or credit card recently, then you're probably intimately aware of what your FICO score is. (Fri, 08 Feb 2008 15:11:15 GMT)

Tax accountant sentenced in $21-million mortgage fraud case
A Dearborn Heights man, convicted of stealing $21 million in a mortgage fraud scheme, was sentenced in federal court Thursday to five years in prison. (Fri, 08 Feb 2008 15:30:02 GMT)

Sector Snap: Mortgage Insurers Fall
Mortgage insurers declined Friday as investors braced for big fourth-quarter losses next week from companies like MGIC Investment Corp., Radian Group Inc. and Triad Guaranty Inc. (Fri, 08 Feb 2008 17:40:31 GMT)

Analyst: Lehman to Gain in Refi Boom
Punk Ziegel & Co. analyst Richard Bove said Lehman Brothers Holdings Inc. will benefit from a predicted boom in home refinancing as long-term mortgage rates decline. (Fri, 08 Feb 2008 18:25:38 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Fri, 08 Feb 2008 18:25:59 GMT)

Mortgage rates in Australia top 9 percent
Bank mortgage rates in Australia topped 9 percent Friday in the wake of a rate hike at Australia's Reserve Bank. (Fri, 08 Feb 2008 18:45:03 GMT)

Key mortgage bill passes commerce committee
A bill that would strengthen Oregon's oversight of mortgage loan originators has unanimously passed the Senate's commerce committee. (Fri, 08 Feb 2008 20:03:39 GMT)

Earnings fall at Liberty Reverse Mortgage parent
Genworth Financial Inc., the parent company of Liberty Reverse Mortgage, reported earnings of $178 million in the fourth quarter, down 52 percent from the same quarter in 2006. (GNW) (Fri, 08 Feb 2008 20:49:30 GMT)

Time to Refinance?
Foreclosures, declining home values, and now, perhaps, there is another housing headache- determining if and when you should refinance your home. Dropping mortgage rates are enticing many homeowners. (Fri, 08 Feb 2008 20:54:18 GMT)

Last Call: Anworth Mortgage Rises
Anworth Mortgage Asset Corp.'s stock climbed Friday after a Friedman Billings Ramsey analyst upgraded the mortgage investor, saying the company will benefit from lower interest rates and an environment where it is easier to raise cash. (Fri, 08 Feb 2008 21:01:20 GMT)

Federal Home Loan adds to council
The Federal Home Loan Bank of Cincinnati, which provides residential housing and economic development services in a three-state region, named five new members to its Advisory Council. (Fri, 08 Feb 2008 21:55:54 GMT)

Mortgage fraud spirals out of control
"Endemic" mortgage fraud on new homes has triggered a wave of repossessions and forced a widespread crackdown by regulatory authorities. (Fri, 08 Feb 2008 22:05:25 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? (Fri, 08 Feb 2008 22:38:44 GMT)

State cracks down on two mortgage brokers
Colorado state regulators Friday announced their first actions against mortgage brokers under a new set of state laws aimed at curbing unscrupulous lending practices. (Fri, 08 Feb 2008 22:38:57 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 22:53:35 GMT)

Facts About Refinancing
Important facts to know if you considering refinancing your mortgage (Fri, 08 Feb 2008 23:00:49 GMT)

Colorado cracks down on mortgage brokers
The Colorado Division of Real Estate issued its first formal actions against mortgage brokers accused of violating the state's lending laws. (Fri, 08 Feb 2008 23:06:06 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? (Fri, 08 Feb 2008 23:40:58 GMT)

Swan talks up govt's home-loan plan
The federal government's four-part home-loan plan will save people a lot of money over the years, Treasurer Wayne Swan says. (Sat, 09 Feb 2008 00:09:31 GMT)

Swan talks up govt's home-loan plan
The federal government's four-part home-loan plan will save people a lot of money over the years, Treasurer Wayne Swan says. (Sat, 09 Feb 2008 00:58:20 GMT)

Swan talks up govt's home-loan plan
The federal government's four-part home-loan plan will save people a lot of money over the years, Treasurer Wayne Swan says. (Sat, 09 Feb 2008 01:00:03 GMT)

Refinancing requires preparation
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. The mortgages in this week's survey had an average total of 0.36 discount and origination points. One year ago, the mortgage index ... (Sat, 09 Feb 2008 01:33:22 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. (Sat, 09 Feb 2008 02:09:06 GMT)

Homeowners need patience with mortgage relief package
Bay Area homeowners are already calling their lenders about refinancing, and radio ads are pushing the idea that the congressional economic rescue plan offers the perfect time to get a loan. (Sat, 09 Feb 2008 02:54:07 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. (Sat, 09 Feb 2008 03:46:29 GMT)

Generally, interest you pay on a home-equity loan is deductible
Q: My wife and I consolidated my daughter’s student loans from college so we would only be making one payment. We used the home equity loan. . . . We were just wondering if we were allowed to deduct the interest on that loan. My accountant says we are not, so I am at an impasse. (Sat, 09 Feb 2008 04:04:58 GMT)

Mortgage rates down once again
WASHINGTON - 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. (Sat, 09 Feb 2008 05:08:07 GMT)

Mortgage alarm bells ringing
4 February 2008 Mortgage pressures are expected to force a growing number of people to look for less expensive homes in the year ahead. The issue has been thrust into the spotlight following Australian research, predicting a sharp jump in mortgagee sales. (Sat, 09 Feb 2008 05:09:01 GMT)

Call for cuts to mortgage stamp duty
The federal government needs to pressure the states to cut mortgage stamp duty, the opposition says. (Sat, 09 Feb 2008 06:19:12 GMT)

Books to help process of getting home mortgage
A wide range of factors goes into securing a home mortgage, from selecting the type to landing a low interest rate and good payment terms. Here are books on the subject: (Sat, 09 Feb 2008 06:39:47 GMT)

Law holds up FHA loans for some stuck in subprime mess
A local mortgage broker is warning that a new state law designed to stop predatory lending could also prevent some N.C. homeowners from refinancing and saving their homes. (Sat, 09 Feb 2008 07:13:04 GMT)

'Be patient' if you're counting on higher mortgage limits
Bay Area homeowners are already calling their lenders about refinancing, and radio ads are pushing the idea that the congressional economic rescue plan offers the perfect time to get a loan. (Sat, 09 Feb 2008 09:41:17 GMT)

Federal Home Loan grant money to be released
The Welcome Home Funds from the Federal Home Loan Bank of Cincinnati will become available, by reservation only, beginning March 17 and continuing until the funds are gone. Borrowers can receive up to $2,000 in grant assistance. These funds will be available on a first-come, first-served basis. (Sat, 09 Feb 2008 12:01:12 GMT)

FBI says 25 indicted in mortgage fraud scheme
CHICAGO (AP) - The FBI says 25 people have been charged in 1 of the biggest mortgage fraud schemes ever prosecuted in the Chicago area. The agency says the suspects were named in three separate indictments returned earlier this week by a federal grand jury. (Sat, 09 Feb 2008 12:01:49 GMT)

FBI says 25 indicted in mortgage fraud scheme
The FBI says 25 people have been charged in one of the biggest mortgage fraud schemes ever prosecuted in the Chicago area. (Sat, 09 Feb 2008 12:26:44 GMT)

US mortgage crisis not to affect Russia economic growth -- Kudrin
TOKYO, February 9 (Itar-Tass) - The US mortgage system crisis will have no effect on Russia's economic growth, Russian Vice-Premier and Finance Minister Alexei Kudrin told reporters in Tokyo on Saturday. (Sat, 09 Feb 2008 13:59:23 GMT)

FBI: 25 indicted in mortgage-fraud scheme
The FBI said 25 people have been charged in one of the biggest mortgage-fraud schemes ever prosecuted in the Chicago area. (Sat, 09 Feb 2008 15:18:01 GMT)

2 Berks County couples sue mortgage broker accused of fraud
READING, Pa. - Two Berks County couples have sued a mortgage broker awaiting sentencing on fraud charges. (Sat, 09 Feb 2008 17:08:33 GMT)

NorthMarq Capital Arranges Mortgage for Four Properties Totaling $87.77M
Minneapolis--NorthMarq Capital, Inc., a national real estate investment banking company headquartered in Minneapolis, has arranged mortgage financing for four properties across the U.S. through its regional offices. (Sat, 09 Feb 2008 17:12:41 GMT)

There’s more to mortgage interest than the level of the bank base rate
lenders moved swiftly to cut their mortgage rates after the Bank of England's Monetary Policy Committee (MPC) chopped a quarter-point off the base rate last week, bringing it down to 5.25%. (Sat, 09 Feb 2008 17:18:47 GMT)

Now the mortgage meltdown reaches the prime mortgages – this one can devastate the economy and cause total financial ...
The mortgage meltdown has now reached the prime mortgages. The mortgage default among the prime adjustable mortgages has skyrocketed. The lower short term rate is not helping the situation for those who have short terms rates linked to UK based Libor and not the US Tbill. (Sat, 09 Feb 2008 18:49:07 GMT)

Your mortgage should have got cheaper. But you could miss the cut
Up to a quarter of the UK's mortgage lenders may not pass on the full quarter-point interest rate cut announced by the Bank of England last week, industry insiders have told The Independent on Sunday. (Sun, 10 Feb 2008 00:14:53 GMT)

Check the fine print on home loans
The foreclosure crisis is focusing new attention on the need for consumers to understand what they are signing when they take out a loan to buy a home. (Sun, 10 Feb 2008 04:25:27 GMT)

Check the fine print on home loans
The foreclosure crisis is focusing new attention on the need for consumers to understand what they are signing when they take out a loan to buy a home. (Sun, 10 Feb 2008 04:29:39 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. (Sun, 10 Feb 2008 04:31:35 GMT)

Before refinancing mortgage, make sure it's worthwhile
Recent dips in interest rates may have homeowners wondering whether it's time to refinance their mortgages. (Sun, 10 Feb 2008 05:16:34 GMT)

Do your homework before making a decision on refinancing home mortgage
Who would have guessed the Federal Reserve would cut the federal funds rate in an emergency meeting -- only days before an additional half-point cut? That was enough to get the phones ringing again. (Sun, 10 Feb 2008 05:35:41 GMT)

Homeowners should consider refinancing as rates edge toward lowest levels in four years
Economic cycles ebb and flow. When one area is slumping, it can mean that there’s opportunity somewhere else. For example, some financial markets have deteriorated to the point where businesses and households are curtailing spending. But that pain could be your gain, in the form of a refinanced mortgage. (Sun, 10 Feb 2008 05:58:17 GMT)

Home improvement loan interest rates
Source: Free Press research Rates vary with the amount of the loan (Sun, 10 Feb 2008 08:07:34 GMT)

Mortgage crisis addressed
ONTARIO - The mortgage crisis is affecting residents nationwide, but it may be most pressing in California, specifically the Inland Empire. (Sun, 10 Feb 2008 08:12:50 GMT)

Court limits fees charged with mortgage
| Just about anybody who bought a home or took out a mortgage in the past five years has run into them in some form: mysterious fees from realty brokers, lenders, builders and title agents -- admin, processing, doc-prep, and regulatory compliance among some of the opaque names -- that lumped $200 to $500 extra onto the consumer's bottom line at settlement. (Sun, 10 Feb 2008 08:39:24 GMT)

Mortgage insurance write-offs
Many homeowners will be able to write off hundreds of dollars of mortgage insurance premiums on their taxes starting with their 2007 returns – a reward for steering clear of exotic “piggyback” loans. (Sun, 10 Feb 2008 08:40:42 GMT)

Mortgage-related funds could be sending bond values south
Take a look at your bond mutual funds. Do they make you feel cozy – insulated from the mortgage mess? Looks may be deceiving, and mutual fund regulators at the Securities and Exchange Commission are concerned that you might not be holding the mild-mannered investments that you think you are. (Sun, 10 Feb 2008 08:42:53 GMT)

Mortgage crisis hits blacks, Latinos
A s we spend this month celebrating the achievements of African Americans, I'm saddened by a report that concludes the subprime mortgage crisis has caused the largest loss of wealth in modern U.S. history for black and Latino homeowners. (Sun, 10 Feb 2008 09:12:10 GMT)

'For sale' signs create roadblocks for refinancing homes
Cherya Jenkins says she has been snagged by a Catch-22 of the mortgage-market mess: She wants to refinance the loans on her Chicago three-flat but hasn't been able to -- because she tried to sell the building last year. (Sun, 10 Feb 2008 09:13:48 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, 10 Feb 2008 10:09:35 GMT)

Not hard to understand simple-interest mortgage
Borrowers can avoid confusion if they understand that a "simple-interest mortgage" is one that accrues interest daily, and should be managed differently than monthly accrual mortgages. (Sun, 10 Feb 2008 10:23:58 GMT)

"For sale" sign may gum up refinance
The mortgage business tends to presume that if you refinance your home after a failed attempt to sell, you still might try to sell it soon -- paying off the loan and thus erasing any profit the lender might have made. (Sun, 10 Feb 2008 10:24:38 GMT)

Don't be taken in by teaser mortgage rates
You've seen them - those ads that promise introductory lower-than-market mortgage loans, credit card loans, and higher-than-market introductory interest on savings accounts. Stay away from them. These ticking time bombs are nothing but trouble and perhaps should be made illegal. (Sun, 10 Feb 2008 10:29:15 GMT)

Two new tax breaks help with mortgage payments
In a time of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage-insurance... (Sun, 10 Feb 2008 10:32:10 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, 10 Feb 2008 10:54:34 GMT)

Mortgage rates drop again
WASHINGTON (AP) — Rates on 30-year mortgages dipped slightly this past 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, down from 5.68... (Sun, 10 Feb 2008 11:21:04 GMT)

Maybe now's the time to refinance
With mortgage rates dipping to their lowest level in years, many homeowners are thinking the same thing: Is it time to refinance? (Sun, 10 Feb 2008 11:27:20 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, 10 Feb 2008 11:30:50 GMT)

2 Berks County couples sue mortgage broker accused of fraud
Two Berks County couples have sued a mortgage broker awaiting sentencing on fraud charges. (Sun, 10 Feb 2008 12:55:07 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, 10 Feb 2008 15:53:46 GMT)

New Stimulus Plan Offers Jumbo Mortgage Help to Homeowners
New York--The proposed U.S. economic stimulus plan announced Thursday will prevent foreclosures and make refinancing easier for mortgage seekers in high-cost markets, CNNMoney.com reports. (Sun, 10 Feb 2008 16:12:41 GMT)

Bucci: Paid mortgage still counts toward your credit score for 10 years
Q: I have two questions, both with regard to credit scores. First, I'm 72 and retired. My wife is a few years younger. We just paid off our mortgage, pay our credit cards in full monthly and have no car debt. Our income is fine. Everything I read about credit scores, especially FICO, says essentially that having no long-term/permanent debt lowers one's score. Is this true, and if so, will our ... (Sun, 10 Feb 2008 17:15:19 GMT)

King's Dream Deferred, One More Victim of the Subprime Mortgage Crisis
As we spend this month celebrating the achievements of African Americans, I'm saddened by a report that concludes that the subprime mortgage crisis has caused the largest loss of wealth for black and Latino homeowners in modern U.S. history. (Sun, 10 Feb 2008 19:13:02 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. (Sun, 10 Feb 2008 20:22:05 GMT)

Foreclosure Prevention and Mortgage Checkup
No Homeowner Left Behind - Tulare County is holding a foreclosure prevention and mortgage checkup workshop on Sunday, February 10. (Sun, 10 Feb 2008 20:22:41 GMT)

Rudd's four-point plans for mortgage switching
The package of measures aimed at making it easier for homeowners to switch banks if they have are not satisfied with their mortgage provider has been released. (Sun, 10 Feb 2008 22:39:01 GMT)

Australian December Home-Loan Approvals Rise on Jobs, Demand
Feb. 11 (Bloomberg) -- Australia's home-loan approvals unexpectedly rose in December for a second month as an employment boom stoked demand for housing. (Mon, 11 Feb 2008 01:04:24 GMT)

Home buyers boost borrowing
RISING interest rates failed to dampen housing demand in December, with home loan approvals unexpectedly rising, according to data just released. (Mon, 11 Feb 2008 01:30:00 GMT)

Home buyers boost borrowing in December
RISING interest rates failed to dampen housing demand in December, with home loan approvals unexpectedly rising, according to data just released by the Australian Bureau of Statistics. (Mon, 11 Feb 2008 01:40:00 GMT)

Australia's Home-Loan Approvals Unexpectedly Increase (Update2)
Feb. 11 (Bloomberg) -- Australia's home-loan approvals unexpectedly rose in December to a six-month high as jobs growth and wage gains underpinned demand for property. (Mon, 11 Feb 2008 03:04:04 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. (Mon, 11 Feb 2008 03:31:35 GMT)

Mortgage-driven credit crunch is starting to hit SBA lending
Signs are appearing that the mortgage-crisis-driven credit crunch is even spreading to once-coveted Small Business Administration loans that have been a boon to small and medium-sized business banks. (Mon, 11 Feb 2008 06:28:54 GMT)

Calif. mortgage banker opens Latham office; shifts strategy from wholesale to retail sales
A California thrift has opened a mortgage lending office in Latham and has plans to hire eight people over the next few months. (IMB) (IMB) (Mon, 11 Feb 2008 06:30:35 GMT)

N.D., local housing markets insulated from national slowdown, mortgage mess
The national housing market has collapsed under the weight of a wave of foreclosures, mortgage fraud and property flipping that'sthreatening to send the economy into recession. (Mon, 11 Feb 2008 06:31:46 GMT)

Australia's Home-Loan Approvals Unexpectedly Increase (Update3)
Feb. 11 (Bloomberg) -- Australia's home-loan approvals unexpectedly rose in December to a six-month high as jobs growth and wage gains underpinned demand for property. (Mon, 11 Feb 2008 06:49:04 GMT)

On rate cuts and mortgages
Question: We've been following the mortgage rates because we want to refinance our mortgage. The Federal Reserve cut interest rates twice last month. The first time they cut rates, mortgage rates came down. (Mon, 11 Feb 2008 08:22:07 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, 11 Feb 2008 09:14:06 GMT)

What a cute kid ... how 'bout a loan?
Times are so tough for mortgage lenders that one recently tried a truly infantile ploy to lure New Yorkers into refinancing: baby pictures. (Mon, 11 Feb 2008 09:34:41 GMT)

UK Jan mortgage approvals rise 3 pct to 75,300 - Connells Survey and Valuation
LONDON (Thomson Financial) - The housing market showed signs of picking up in January as mortgage approvals rose by 3 pct, helped by the Bank of England's interest rate cut in December, according to housing valuation group Connells Survey and Valuation. (Mon, 11 Feb 2008 09:53:59 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, 11 Feb 2008 10:38:55 GMT)

Countrywide, ACORN Partner on Guidance for Home Retention Efforts
Countrywide Financial Corporation and the Association of Community Organizations for Reform Now , have reached an agreement that will further enhance the process for helping borrowers who are delinquent on their subprime loan payments find home retention solutions and avoid foreclosure. (Mon, 11 Feb 2008 11:00:00 GMT)

Countrywide expands scope of mortgage help
Plan would offer loan modifications for both fixed and adjustable loans and to borrowers who've already fallen behind. (Mon, 11 Feb 2008 11:11:05 GMT)

Mortgage brokers fight to stay alive
Mortgage brokers who haven’t fled or been forced out of the industry are in survival mode. (Mon, 11 Feb 2008 11:13:57 GMT)

2007 Mortgage Litigation Dominated by Shareholder Actions
Mortgage lawsuits last year were dominated by investors accusing companies of financial fraud, according to a new report published by http://www.MortgageDaily.com. The report, based on cases covered by MortgageDaily.com, was prepared in conjunction with the law firm of Weiner Brodsky Sidman Kider PC, which is known as a leader for its work in mortgage banking litigation. (Mon, 11 Feb 2008 12:00:00 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. (Mon, 11 Feb 2008 12:37:48 GMT)

AllRegs Partners with Smith Dollar Law Firm to Deliver Legal Content Support Services for Mortgage Lenders
EAGAN, Minn.----AllRegs, the leading information provider for the mortgage lending industry, announced that its Ask the Expert - Legal Content Support Services will be offered through Santa Rosa, Calif.-based Smith Dollar P.C., a leading mortgage banking law firm. (Mon, 11 Feb 2008 13:01:00 GMT)

Rate fears spur mortgage moves
Home owners refinancing at record levels before another rise in interest rates next month. (Mon, 11 Feb 2008 13:45:24 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. (Mon, 11 Feb 2008 14:41:28 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? (Mon, 11 Feb 2008 14:41:37 GMT)

Analysts say banks yet to respond to call for mortgage rate cuts
SINGAPORE : With global interest rates trending downwards, some Singapore homeowners are hoping to see a similar move in mortgage rates. This is especially after the Singapore Interbank Offered Rate (SIBOR) hit its lowest level in almost four years in late December - at 1.5 percent. (Mon, 11 Feb 2008 15:11:35 GMT)

Wall Street Falls After Last Week's Losses; AIG Filing Rekindles Concerns About Mortgage Debt
NEW YORK (AP) - Wall Street retreated Monday, extending its steep slide from last week as investors reacted to news that American International Group Inc. may have more mortgage debt to write off. (Mon, 11 Feb 2008 15:17:34 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, 11 Feb 2008 15:31:44 GMT)

Home repair loans offered for low-income residents
The city of Woodland has a deferred/affordable loan program that helps homeowners make basic home repairs by providing project planning assistance and the services of a licensed contractor. This program is through the city's Community Development Block Grant program that is funded through the state (Mon, 11 Feb 2008 15:46:38 GMT)

Investec unveils lump sum mortgage
The concept allows clients to make smaller monthly mortgage payments in line with their basic salaries and to make up the difference with one larger interest payment when their bonus is received, thereby matching the pattern of their mortgage payments to the pattern of their earnings. (Mon, 11 Feb 2008 16:01:57 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, 11 Feb 2008 16:40:56 GMT)

Global State Mortgage receives award
PRINCETON — Global State Mortgage has been recognized as a 2007 Million Dollar Lender by the U.S. Department of Agriculture’s Rural Development. (Mon, 11 Feb 2008 16:42:20 GMT)

Winter Weather: Hour-By-Hour Snow, Ice Projections
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. (Mon, 11 Feb 2008 18:05:35 GMT)

Mortgage Foreclosure Agreement
ACORN and the nation's largest mortgage lender, Countrywide make a foreclosure deal (Mon, 11 Feb 2008 18:24:18 GMT)

ASK THE MORTGAGE EXPERT: Sometimes a home loan requires the human touch
Even as our world gets more and more automated every day, it’s nice to know that you can’t replace genuine common sense, even in the mortgage industry. (Mon, 11 Feb 2008 19:17:46 GMT)

Mortgage and Home Equity Direct Mail Down
2007 showed a sharp decline in mortgage and home equity offers mailed to Americans, according to new (Mon, 11 Feb 2008 19:32:38 GMT)

(AFX UK Focus) 2008-02-11 19:46 GMT: PMI Group halts private mortgage coverage for above-97% loan-to-value mortgages
NEW YORK (Thomson Financial) - PMI Private Mortgage Insurance Co., owned by PMI Group Inc., Monday said starting March 1, it will discontinue future mortgage coverage under its 'Above 97s' business, or loans with loan-to-value (LTV) ratios in excess of 97%. (Mon, 11 Feb 2008 20:12:58 GMT)

Lac Du Flambeau consider mortgage to address financial woes
MILWAUKEE The Lac Du Flambeau Band of Lake Superior Chippewa may mortgage part of its reservation to combat a cash crunch caused by several multimillion-dollar investments. (Mon, 11 Feb 2008 20:47:19 GMT)

Lac Du Flambeau consider mortgage to address financial woes
Associated Press - February 11, 2008 4:05 PM ET MILWAUKEE (AP) - The Lac Du Flambeau Band of Lake Superior Chippewa may mortgage part of its reservation to combat a cash crunch caused by... (Mon, 11 Feb 2008 21:07:03 GMT)

Region's home loan bank posts earnings growth
The weak housing market didn't hurt earnings last year at a local bank aimed at providing capital for home loans. (Mon, 11 Feb 2008 21:52:52 GMT)

Lac Du Flambeau considers mortgage to address financial woes
Associated Press - February 11, 2008 5:04 PM ET MILWAUKEE (AP) - The Lac Du Flambeau Band of Lake Superior Chippewa may mortgage part of its reservation to combat a cash crunch caused by... (Mon, 11 Feb 2008 22:10:47 GMT)

Countrywide expands mortgage workout scope
Countrywide Financial said Monday it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments. (Mon, 11 Feb 2008 22:26:04 GMT)

PMI to stop insuring mortgages with high loan-to-value ratios
PMI Group Inc. will stop insuring mortgages with high loan-to-value ratios next month as the company adjusts to the U.S. housing crisis. (Tue, 12 Feb 2008 00:00:14 GMT)

Home Renovator Accused of Scamming $18 Million
Prosecutors say a mortgage fraud ring in Akron, Ohio, scammed mortgage companies and local investors out of more than $18 million. With many lenders eager to loan money to almost anybody, this may be one of many small organized crime rings that have sprung up around the country. (Tue, 12 Feb 2008 00:38:56 GMT)

New Mortgage Rescue Goes Beyond Subprime
With mortgage defaults surging and politicians urging the industry to do more, six lenders agreed to widen their effort to help borrowers of all loans _ not just subprime. The plan, called Project Lifeline, is to be announced Tuesday by the Treasury... (Tue, 12 Feb 2008 01:23:14 GMT)

New Mortgage Rescue Goes Beyond Subprime
WASHINGTON -- With mortgage defaults surging and politicians urging the industry to do more, six lenders agreed to widen their effort to help borrowers of all loans _ not just subprime. (Tue, 12 Feb 2008 01:37:18 GMT)

Bank of America, 5 other lenders offer broader mortgage plan
With mortgage defaults surging and politicians urging the industry to do more, North Carolina-based Bank of America and five other lenders agreed to widen their effort to help borrowers of all loans -- not just subprime. (Tue, 12 Feb 2008 03:15:49 GMT)

McArdle accused of hypocrisy over failed mortgage scheme
A woman affected by failed mortgage schemes on Queensland's Sunshine Coast five years ago has accused Liberal leader Mark McArdle of being a hypocrite. (Tue, 12 Feb 2008 03:35:00 GMT)

Mortgage Mess Rescue Plan
At least 6 lenders will offer a broader mortgage plan that extends to homeowners of all loans, not just subprime. (Tue, 12 Feb 2008 03:39:18 GMT)

6 large lenders offer mortgage help
WASHINGTON -- With mortgage defaults surging and politicians urging the industry to do more, six lenders, including Washington Mutual Inc., have agreed to widen their efforts to help borrowers of all loans -- not just subprime. (Tue, 12 Feb 2008 04:03:22 GMT)

Mortgage crisis spreads in U.S. past subprime loans
Even borrowers with strong credit are feeling the pinch as American home values fall and monthly payments rise. (Tue, 12 Feb 2008 04:17:00 GMT)

Milwaukee-based mortgage insurer MGIC sets higher bar for customers
The nation's leading mortgage insurer, MGIC Investment Corp., said it plans to limit its exposure in declining housing markets by requiring higher credit scores and larger down payments. Starting March 3, the Milwaukee-based company will require at least 5 percent down on homes in so-called restricted markets. They include the entire states of Arizona, California, Florida and Nevada and major ... (Tue, 12 Feb 2008 04:23:01 GMT)

New Mortgage Rescue Goes Beyond Subprime
With mortgage defaults surging and politicians urging the industry to do more, six lenders agreed to widen their effort to help borrowers of all loans -- not just subprime. (Tue, 12 Feb 2008 04:25:38 GMT)

New mortgage rescue goes beyond subprime
With mortgage defaults surging and politicians urging the industry to do more, six lenders agreed to widen their effort to help borrowers of all loans - not just subprime. The plan, called Project Lifeline, is to be announced Tuesday by the Treasury Department and the Department of Housing and Urban Development, a person familiar with the plan said Monday evening, confirming earlier news reports ... (Tue, 12 Feb 2008 04:32:43 GMT)

LDF Reservation Mortgage
MILWAUKEE - The Lac Du Flambeau Band of Lake Superior Chippewa may mortgage part of its reservation to combat a cash crunch caused by several multimillion-dollar investments. (Tue, 12 Feb 2008 05:00:50 GMT)

New mortgage rescue goes beyond subprime
At-risk borrowers with all types of mortgages, not just high-cost subprime loans, could be eligible for help under a new plan involving six big home lenders. (Tue, 12 Feb 2008 05:01:50 GMT)

Countrywide expands subprime loan relief
Countrywide Financial Corp., under pressure to help stem growing home loan defaults, said Monday it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments. (Tue, 12 Feb 2008 06:19:17 GMT)

Rate cuts spur refinancing interest
Interest rate cuts by the Federal Reserve have sparked a mortgage refinancing frenzy among area homeowners looking to cut monthly payments. (Tue, 12 Feb 2008 08:00:42 GMT)

Rate cuts spur refinancing interest
Interest rate cuts by the Federal Reserve have sparked a mortgage refinancing frenzy among area homeowners looking to cut monthly payments. Mortgage applications have almost doubled in the last few months. ... (Tue, 12 Feb 2008 08:08:44 GMT)

Rate cut could buttress sagging mortgage industry as 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. (Tue, 12 Feb 2008 08:22:19 GMT)

Treasuries Fall; U.S. Lenders Plan to Help Home-Loan Borrowers
Feb. 12 (Bloomberg) -- Treasury notes fell as Bank of America Corp., Citigroup Inc. and four other U.S. lenders planned to announce steps to help home-loan borrowers. (Tue, 12 Feb 2008 08:52:01 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Tue, 12 Feb 2008 09:13:40 GMT)

Long-fuse mortgage bomb
New York–Joe Ripplinger took out a $184,000 (U.S.) mortgage in 2006 and makes his payments every month. Now he owes $192,000. The 66-year-old Minneapolis house painter has a payment-option adjustable-rate mortgage. It allows him to write a cheque for $565 a month even though he owes $1,300. (Tue, 12 Feb 2008 09:45:55 GMT)

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