Mortgage News Feb 2008
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Home Equity Taps Out
New lending rules make it harder to borrow against your home. (Fri, 15 Feb 2008 21:42:22 GMT)
Delinquencies rise at Countrywide
Countrywide Financial Corp. said Friday home loan delinquencies and foreclosures rose in January as more borrowers struggled to make their mortgage payments. (Fri, 15 Feb 2008 22:57:40 GMT)
Wealth Check: 'I worry about not being able to pay the mortgage'
Mariatu Allie, 26, from London, is worried about making ends meet after renovating her home. She shares the £400,000 mortgage with her sister and is paying it back on an interest only basis. But to meet the payments, she is renting out some bedrooms. "I worry about what would happen if we lose our tenants or our mortgage payments go up," she says. "We just can't afford many extra costs or ... (Sat, 16 Feb 2008 00:15:36 GMT)
Benny Kass: Refinancing isn't for all, but look at home equity line of credit
Dear Benny: I have an adjustable-rate mortgage with one more year to go. When is the best time to refinance? Also, should I get an equity line of credit for household emergencies or home improvements? (Sat, 16 Feb 2008 00:24:09 GMT)
Mortgage figures confirm market slowdown
FOURTH-QUARTER figures on the mortgage market provided further evidence the housing market here is in the grip of a serious slowdown. (Sat, 16 Feb 2008 01:13:40 GMT)
Timing's everything in refinancing home
Three weeks ago, rates for a 30-year, fixed-rate mortgage bottomed out at 5.175 percent. Then the window, open for no more than a day, slammed shut, and the rates have since shot up, briefly touching 6.25 percent on Thursday, according to Lou Barnes, principal of Boulder West Financial Services. (Sat, 16 Feb 2008 01:49:42 GMT)
Federal Home Loan Bank of San Francisco annual earnings up
Federal Home Loan Bank of San Francisco has reported that 2007 net income rose $110 million, or 20%, to $652 million from $542 million reported in 2006. (Sat, 16 Feb 2008 02:28:51 GMT)
You're Invited . . . To Pay Your Mortgage
Mortgage lenders hunting for delinquent homeowners who have dodged their phone calls and letters are employing aggressive new methods to track them down, potentially making every knock on the door or fancy envelope seem like part of the pursuit. Even wedding invitations are suspect. (Sat, 16 Feb 2008 04:29:49 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sat, 16 Feb 2008 05:11:19 GMT)
Late Mortgage Payments Rise
Countrywide Financial Corp. said Friday that home loan delinquencies and foreclosures rose in January as more borrowers struggled to make their mortgage payments. (Sat, 16 Feb 2008 05:12:15 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sat, 16 Feb 2008 06:24:26 GMT)
Kenneth Harney: Major mortgage insurer goes way of lenders, tightening its guidelines
WASHINGTON — First it was the lenders. Now it's the mortgage insurance industry: Entire product lines are being yanked off the real estate financing shelf, potentially squeezing large numbers of buyers and refinancers out of the marketplace. (Sat, 16 Feb 2008 07:18:13 GMT)
January loan delinquency rate rises
Countrywide Financial Corp.'s January loan delinquency rate climbed again last month as falling home values and the sagging economy hammered borrowers. (Sat, 16 Feb 2008 07:20:25 GMT)
Timing's everything in refinancing home
Three weeks ago, rates for a 30-year, fixed-rate mortgage bottomed out at 5.175 percent. (Sat, 16 Feb 2008 07:20:45 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? (Sat, 16 Feb 2008 09:13:49 GMT)
Mortgage expo could help untangle lending options
Navigating the mortgage world can be a formidable and confusing task for hopeful homeowners - especially with standards frequently changing in today's strained lending environment. (Sat, 16 Feb 2008 09:35:23 GMT)
Help sought for college loan market
Democratic members of the House are asking the Bush administration to shore up the shaken student loan market before the situation worsens and students are deprived of the chance to attend college. (Sat, 16 Feb 2008 10:10:48 GMT)
Home loans failing at record rates; foreclosures up 257% over Jan. '07
Home loan failures in San Diego County continued their steady climb in January, setting records for both foreclosures and the notices of default that are the first step in reclaiming mortgaged properties. The number of foreclosures in the county was 1,305, up 32 percent from December and up nearly 257 percent from January 2007. (Sat, 16 Feb 2008 10:43:32 GMT)
Mortgage Help!
(WTNH, Feb. 16, 2008) - Many homeowners in trouble will never even get the chance to press the pause button. Because, if your mortgage company decides not to participate, there is no lifeline for you. But critics say there are many problems with Project Lifeline. Quinnipiac University School of Business Professor Robert Porter helps to sort it all out. (Sat, 16 Feb 2008 11:03:19 GMT)
Credit card: You'd better leave home without it
As a sideline to his mortgage-loan business, Michael Carr counsels clients overwhelmed by debt. Many are big-ticket splurgers now paying the price. But increasingly he's seeing clients overwhelmed from using plastic to cover everyday expenses. (Sat, 16 Feb 2008 11:04:56 GMT)
Mortgage Insurance Harder to Come By
WASHINGTONFirst it was the lenders. Now it's the mortgage insurance industry: Entire product lines are being yanked off the real estate financing shelf, potentially squeezing large numbers of buyers and refinancers out of the marketplace. (Sat, 16 Feb 2008 11:11:29 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. (Sat, 16 Feb 2008 12:08:34 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? (Sat, 16 Feb 2008 12:46:02 GMT)
How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sat, 16 Feb 2008 13:30:54 GMT)
Home loans failing at record rates; foreclosures up 257% over Jan. '07
Home loan failures in San Diego County continued their steady climb in January, setting records for both foreclosures and the notices of default that are the first step in reclaiming mortgaged properties. The number of foreclosures in the county was 1,305, up 32 percent from December and up nearly 257 percent from January 2007. (Sat, 16 Feb 2008 13:36:12 GMT)
Mortgage ills start to infect college loans
I f you want to borrow a lot of money for college, you are not going to like what the mortgage mess is doing to you. (Sat, 16 Feb 2008 13:56:34 GMT)
Housing forum in Mount Vernon today to tackle mortgage problems
MOUNT VERNON - Westchester County is holding a housing forum today to help homeowners who have mortgage troubles and for potential homebuyers. The free forum at St. John, Paul and Clements Episcopal Church, 126 South 9th Ave in Mount Vernon, will start at 10 a.m. (Sat, 16 Feb 2008 20:18:46 GMT)
Sidelined home buyers frozen by fears
Home prices have plunged by 10 percent or more in some parts of the United States and interest rates on mortgages are at enticing levels, but many potential buyers are waiting for prices to fall further. (Sun, 17 Feb 2008 00:16:15 GMT)
As Mortgage Crisis Intensifies, Elderly Homeowners Suffer
ATLANTA (FOX 5) – As the nation's mortgage crisis intensifies, many of the people who are suffering have owned their homes for more than 30 years. Hundreds of elderly homeowners flocked to east Atlanta Saturday for the Focus on Seniors Services program. (Sun, 17 Feb 2008 00:26:38 GMT)
Clinton Reassures Girl Worried About Mortgage Crisis
Fifth-grader Jade Bailey might have been the star of Sen. Hillary Rodham Clinton's campaign rally in Kenosha. (Sun, 17 Feb 2008 00:38:26 GMT)
Refinancing at cheap rates biggest benefit of stimulus
WASHINGTON - The biggest winners in the economic rescue plan President Bush signed last week are likely to be Americans with more expensive homes who will be able to refinance their home loans at cheaper rates. (Sun, 17 Feb 2008 01:54:35 GMT)
Event gives Dallas-area homeowners advice on avoiding foreclosure
Denise Knudson was ready to take a second job and borrow from her 401(k) to make her mortgage payment once it ballooned beyond her means. (Sun, 17 Feb 2008 04:17:20 GMT)
Goldman might not escape loan crisis
New York As some of the biggest U.S. investment banks wrap up the first quarter, analysts worry they'll again be plagued by massive write-downs from bad bets in the home loan market. (Sun, 17 Feb 2008 05:04:40 GMT)
New loan rates up in the air for those trying to refinance
The economic stimulus bill that President Bush signed Wednesday has plunged people who are trying to buy or refinance an expensive home into jumbo limbo. The bill raises the maximum mortgage that can be purchased by guarantors Fannie Mae and Freddie Mac.... (Sun, 17 Feb 2008 05:09:14 GMT)
Subprime mortgage risks were recognized too late
Q. I have read a great deal about the problems on Wall Street associated with the subprime mortgage losses. Doesn't the investment community recognize the high risk associated with subprime loans? ... (Sun, 17 Feb 2008 05:33:54 GMT)
Fighting mortgage disservice
As the mortgage crisis deepens, loan servicers face allegations of mismanagement and intentional over-charging. (Sun, 17 Feb 2008 05:34:54 GMT)
Missoula mortgage refinancings have doubled
Borrowers have triggered a refinancing boomlet for Missoula lenders in the last few weeks as mortgage rates hover around 6 percent or less. Rates are expected to skip around between 5 percent and 6 percent as the Federal Reserve, which meets next on March 18, tries to avoid a nationwide recession. (Sun, 17 Feb 2008 06:54:15 GMT)
Mortgage mess hit blacks, Latinos harder
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 in modern U.S. history for black and Latino homeowners. (Sun, 17 Feb 2008 07:30:53 GMT)
Mortgage assistance options explained
While trying to understand the new Internal Revenue Service guidelines regarding the ability to deduct mortgage insurance premiums, the topic of unemployment insurance surfaced with regard to the Hollywood writers strike. (Sun, 17 Feb 2008 08:05:20 GMT)
Some (limited) relief for mortgage-strapped
If you were busy with holiday travels and shopping in late December, you might have missed the fact that President Bush signed new legislation designed to help homeowners in deep mortgage trouble. The most significant change under the new law is tax relief for people who sell their home for less than the remaining balance on their mortgage. (Sun, 17 Feb 2008 08:13:25 GMT)
Mortgage insurers hurting
Firms' losses mount as foreclosures rise, home prices fall Mounting losses and the threat of credit-rating downgrades are hitting another obscure corner of the insurance industry, mortgage insurance, and adding to strains on the housing market. (Sun, 17 Feb 2008 08:19:03 GMT)
Pay off mortgage, then yourself
Q: I have $150,000 in a CD at 5.25 percent for 6 months, and a few thousand in my savings account. Should I pay my mortgage of $35,000 at 6 percent, or should I keep rolling the money in my CD? I still have 19 years to go to pay that mortgage and I am over 60 years old, any suggestions? (Sun, 17 Feb 2008 08:25:21 GMT)
Home improvement loan interest rates
Source: Free Press research Rates vary with the amount of the loan (Sun, 17 Feb 2008 08:26:10 GMT)
Sidelined home buyers frozen by fears
Home prices have plunged by 10 percent or more in some parts of the United States and interest rates on mortgages are at enticing levels, but many potential buyers are waiting for prices to fall further. (Sun, 17 Feb 2008 08:26:11 GMT)
Tax Breaks for Buying a Home
Buying your first home is a huge step. When you leave the world of renting behind, you begin building equity in an investment. And Uncle Sam is there to help ease the pain of high mortgage payments. The deductions now available to you as a homeowner will reduce your tax bill substantially. And, if... (Sun, 17 Feb 2008 08:29:25 GMT)
Mortgage woes spread to student loans
If you are about to borrow a lot of money for college you are not going to like what the mortgage mess is going to do to you. (Sun, 17 Feb 2008 08:30:58 GMT)
Mortgage insurer tightens rules
| First it was the lenders. Now it's the mortgage insurance industry: Entire product lines are being yanked off the real estate financing shelf, potentially squeezing large numbers of buyers and refinancers out of the marketplace. (Sun, 17 Feb 2008 08:39:42 GMT)
Mortgage crisis reverberates around world
The subprime mortgage crisis in the United States has created problems in many economies around the world, including in Europe. (Sun, 17 Feb 2008 09:00:16 GMT)
New loan rates up in the air for those trying to refinance
The economic stimulus bill that President Bush signed Wednesday has plunged people who are trying to buy or refinance an expensive home into jumbo limbo. The bill raises the maximum mortgage that can be purchased by guarantors Fannie Mae and Freddie Mac.... (Sun, 17 Feb 2008 09:02:06 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 17 Feb 2008 10:09:15 GMT)
Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Sun, 17 Feb 2008 10:39:03 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sun, 17 Feb 2008 10:53:53 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? (Sun, 17 Feb 2008 11:30:50 GMT)
Get out of foreclosure with help from the experts
Homeowner counselors say more than half of homeowners facing foreclosure, don't ask for help in time, or at all. But, after being late on only one mortgage payment, it becomes almost impossible to refinance. So, it's crucial to seek help as soon as possible. (Sun, 17 Feb 2008 15:00:02 GMT)
Britain nationalizes mortgage lender Northern Rock
Britain said on Sunday it will nationalize ailing mortgage lender Northern Rock for a temporary period as it was not in the taxpayer's best interests to sell it to the private sector now. (Sun, 17 Feb 2008 16:27:35 GMT)
Britain nationalises mortgage lender Northern Rock
Britain will nationalise ailing mortgage lender Northern Rock until financial markets stabilise and it can be returned to the private sector, finance minister Alistair Darling said on Sunday. (Sun, 17 Feb 2008 16:37:26 GMT)
Mortgage crisis makes it tougher for students to make the grade on loans
If you want to borrow a lot of money for college, you are not going to like what the mortgage mess is doing to you. (Sun, 17 Feb 2008 16:38:10 GMT)
British mortgage lender Northern Rock nationalized - Update
London - The stricken British mortgage lender Northern Rock is to be nationalized, British Chancellor Alistair Darling said in London Sunday. It is the first time since the 1970s that a British company is nationalized. Speculation that Northern Rock ... (Sun, 17 Feb 2008 17:11:34 GMT)
Britain to nationalize mortgage lender Northern Rock
LONDON (AP) - Britain's Treasury chief has announced plans to nationalize troubled mortgage lender Northern Rock. The move comes after the government rejected two private takeover bids. (Sun, 17 Feb 2008 17:49:18 GMT)
Britain to nationalize mortgage lender Northern Rock
Associated Press - February 17, 2008 12:43 PM ET LONDON (AP) - Britain's Treasury chief has announced plans to nationalize troubled mortgage lender Northern Rock. (Sun, 17 Feb 2008 17:51:53 GMT)
Britain nationalizes mortgage lender Northern Rock
LONDON (Reuters) - Britain said on Sunday it will nationalize ailing mortgage lender Northern Rock (NRK.L) for a temporary period as it was not in the taxpayer's best interests to sell it to... (Sun, 17 Feb 2008 18:11:10 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, 17 Feb 2008 18:23:30 GMT)
US Mortgage Crisis, Rising Prices, Market Turmoil
The sub-prime mortgage market collapse in the United States, rising oil and commodity prices and other factors could combine to hamper the economies of developing countries, the President of the United Nations General Assembly said today. (Sun, 17 Feb 2008 23:17:15 GMT)
TEXT-S&P revises Australian Mortgage Securities outlook
Feb 18 - Standard & Poor's Ratings Services today said that it has revised the servicer evaluation ranking outlook on Australian Mortgage Securities Pty Ltd. to stable from negative. (Sun, 17 Feb 2008 23:35:58 GMT)
TEXT-S&P revises Australian Mortgage Securities outlook
Feb 18 - Standard & Poor's Ratings Services today said that it has revised the servicer evaluation ranking outlook on Australian Mortgage Securities Pty Ltd. (AMS) to stable from negative. The ranking remains "STRONG" and AMS remains on Standard & Poor's global select servicer list. (Sun, 17 Feb 2008 23:37:16 GMT)
Centro wins reprieve from lenders
Shares in Centro Properties Group, a victim of the subprime mortgage crisis, jumped as much as 14 percent on Monday after the company said it had won a two-month reprieve from its lenders on a total of A$5.4 billion ($4.8 billion) of debt. (Mon, 18 Feb 2008 02:50:23 GMT)
No Lull in Mortgage Pitches
The mortgage market may be in a historic upheaval, but mortgage companies continue to pump out upbeat advertisements. (Mon, 18 Feb 2008 03:41:04 GMT)
Morgan Stanley analysts have attacked mortgage bank Bradford & Bingley, alleging that it failed to inform the market ...
Morgan Stanley analysts have attacked mortgage bank Bradford & Bingley, alleging that it failed to inform the market sufficiently of its exposures to synthetic collateralised debt obligations hit by the credit crisis. (Mon, 18 Feb 2008 05:13:32 GMT)
Mortgage firms go against the flow
While home loan delinquencies climbed across the nation, some local mortgage companies had a banner year in 2007. (Mon, 18 Feb 2008 05:21:53 GMT)
First Mariner files $15M lawsuit against Virginia mortgage broker
Reeling from losses on mortgage loans, First Mariner Bank has filed a $15 million lawsuit against Virginia mortgage broker East West Mortgage Co., claiming the firm falsified mortgage loan documents sent to the bank. (Mon, 18 Feb 2008 05:57:54 GMT)
As mortgage market tumbles, ad spending by lenders persists
Mortgage experts say spending will be strong into the spring, a prime buying time for the housing market. But consumer advocates say the ads are misleading. (Mon, 18 Feb 2008 07:12:58 GMT)
Is home loan crisis helping homeless?
CLEVELAND -- The nation's foreclosure crisis has led to a painful irony for homeless people: On any given night they are outnumbered in some cities by vacant houses, and some street people are taking advantage of the opportunity by becoming squatters. (Mon, 18 Feb 2008 07:21:23 GMT)
(AFX UK Focus) 2008-02-18 07:05 GMT: Centro's Australian CMBS programs affirmed - S&P
(Thomson Financial) - Standard & Poor's Ratings Services said it has affirmed the ratings on Centro Properties Group's Australian commercial mortgage-backed securities (CMBS) programs, after recent announcements regarding the extension of refinancing deadlines that affect the Centro group and the outcome of its strategic review. (Mon, 18 Feb 2008 07:28:15 GMT)
Missoula mortgage refinancings have doubled
Borrowers have triggered a refinancing boomlet for Missoula lenders in the last few weeks as mortgage rates hover around 6 percent or less. Rates are expected to skip around between 5 percent and 6 percent as the Federal Reserve, which meets next on March 18, tries to avoid a nationwide recession. (Mon, 18 Feb 2008 07:55:02 GMT)
Britain nationalizes ailing mortgage bank
The British government waded into the subprime-mortgage quagmire, saying it would move today to nationalize Northern Rock, the nation's... (Mon, 18 Feb 2008 08:21:30 GMT)
How to Win in Today's Housing Market
(ARA) - For all the dire news coming out of the housing market, there's a big, shiny silver lining waiting for many homeowners and home buyers. The Federal Reserve has repeatedly dropped interest rates in the past month - good news for anyone seeking a mortgage. (Mon, 18 Feb 2008 10:53:35 GMT)
Northern Rock: Mortgage Broker Reaction
Mortgage brokers have expressed surprised at the Government's quick move to take Northern Rock into nationalisation, saying that the decision is not the optimum outcome for the financial sector. (Mon, 18 Feb 2008 11:04:35 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. (Mon, 18 Feb 2008 12:23:34 GMT)
(AFX UK Focus) 2008-02-18 12:01 GMT: Interest deduction barrier could hit German commercial mortgage loans - Fitch
MUMBAI (Thomson Financial) - Fitch Ratings said the newly introduced interest deduction barrier on German commercial mortgage loans could increase the likelihood of a borrower defaulting. (Mon, 18 Feb 2008 12:27:29 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, 18 Feb 2008 12:37:40 GMT)
Maybank Offers Singaporeans Lowest 3-year Fixed Rate Home Loan Package (Malaysian National News Agency
SINGAPORE, Feb 18 (Bernama) -- Maybank today launched the lowest 3-year fixed rate home loan package for Singaporeans which offers an attractive interest rate of 1.68 per cent per annum for the first year. (Mon, 18 Feb 2008 12:39:11 GMT)
Emirates NBD bank sees home loans jump as rates fall
DUBAI, Feb 18 - Emirates NBD , the Gulf's largest bank, expects to almost double its mortgage lending this year as lower interest rates encourage home buyers. (Mon, 18 Feb 2008 12:54:51 GMT)
Emirates NBD bank sees home loans jump as rates fall
DUBAI, Feb 18 - Emirates NBD , the Gulf's largest bank, expects to almost double its mortgage lending this year as lower interest rates encourage home buyers. (Mon, 18 Feb 2008 12:54:51 GMT)
More being shut out of home ownership
Housing affordability has sunk so low that the majority of Australians who have yet to take out a mortgage expect that they may never purchase a home, new figures show. (Mon, 18 Feb 2008 13:08:56 GMT)
Refinancing? Don't play games
Don't speculate on interest rates with your mortgage. Even as the Federal Reserve Board made its latest and well anticipated cut in short-term interest rates, mortgage rates started to climb higher last week. (Mon, 18 Feb 2008 14:09:14 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, 18 Feb 2008 14:26:02 GMT)
The Home Buying Process: Step by Step
(ARA) - Buying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. (Mon, 18 Feb 2008 14:27:16 GMT)
Strapped Illinois homeowners getting help
Help is on the way for Illinois homeowners struggling to keep up with their mortgage payments. Four mortgage lenders have committed $200 million to a new Homeowner Assistance Pool to help people refinance their mortgages. It's an effort to ward off foreclosures for homeowners who can't afford their adjustable or fixed rate mortgages. (Mon, 18 Feb 2008 14:52:21 GMT)
UK government nationalizes bank hit by mortgage mess
The British government was to introduce emergency legislation Monday to temporarily nationalize Northern Rock PLC amid strident criticism of the move from opposition lawmakers and shareholders in the stricken mortgage lender. Trading in Northern Rock shares was suspended on the London Stock Exchange as the government made preparations to take the bank into state control after deeming that two ... (Mon, 18 Feb 2008 15:16:13 GMT)
Realtor, loan officer allegedly stole woman’s identity
Two Queens women, a realtor and a loan officer, have been charged with stealing the personal identity of a former client to purchase a Brooklyn property. (Mon, 18 Feb 2008 15:40:51 GMT)
Britain to Nationalize Struggling Mortgage Lender
The British government announced on Sunday that it will nationalize the struggling mortgage lender Northern Rock. The British government rejected two takeover proposals for the lender, which ran into trouble last year following the subprime mortgage crisis in the United States. (Mon, 18 Feb 2008 16:08:58 GMT)
Courier News Online - SOMERSET COUNTY: Housing coalition offers mortgage advice
The nonprofit feels Somerset County Coalition on Affordable Housing believes that many of subprime-mortgage problems could have been avoided had borrowers taken a more active role and become better educated before applying for a mortgage or home equity loan. (Mon, 18 Feb 2008 17:16:29 GMT)
British to nationalize mortgage lender
The British government announced emergency legislation Monday to temporarily nationalize Northern Rock PLC amid strident criticism of the move from opposition lawmakers and shareholders in the stricken mortgage lender. (Mon, 18 Feb 2008 17:34:09 GMT)
Restaurant owner accused of mortgage scam
DELAWARE, Ohio -- The co-owner of the Happy Greek restaurants was arrested Friday as part of a lengthy investigation into a multimillion-dollar mortgage fraud ring that authoriies say operated in Franklin and Delaware counties. (Mon, 18 Feb 2008 17:41:30 GMT)
Regulators' subprime mortgage cases
State regulators and cities that have filed cases or disclosed investigations targeting Wall Street firms' roles in the subprime mortgage market: (Mon, 18 Feb 2008 20:01:00 GMT)
Regulators' Subprime Mortgage Cases
-- State regulators and cities that have filed cases or disclosed investigations targeting Wall Street firms' roles in the subprime mortgage market: (Mon, 18 Feb 2008 20:22:07 GMT)
Regulators hope to make Wall Street pay for its role in subprime-mortgage bust
Regulators are trying to punish Wall Street for mortgage finance practices that expanded home ownership and spread risk among a host of new players - but also may have duped... (Mon, 18 Feb 2008 20:24:40 GMT)
Bernanke Turns 10-Year Notes Into Losers as Refinancing Surges
Feb. 19 (Bloomberg) -- The more Federal Reserve Chairman Ben S. Bernanke cuts interest rates, the less appealing 10-year Treasuries become to investors like Doug Dachille, chief executive officer of First Principles Capital Management LLC. (Mon, 18 Feb 2008 20:36:44 GMT)
No Lull in Mortgage Pitches
The mortgage market may be in a historic upheaval, but mortgage companies continue to pump out upbeat advertisements. (Mon, 18 Feb 2008 20:39:07 GMT)
Regulators' Subprime Mortgage Cases
State regulators and cities that have filed cases or disclosed investigations targeting Wall Street firms' roles in the subprime mortgage market: _ New York Attorney General Andrew Cuomo has accused a major real estate appraisal company of colluding... (Mon, 18 Feb 2008 20:44:18 GMT)
Don't get duped by enticing ads for 'bank' deposits
Now that regulators finally are focused on protecting us from unfair and deceptive home-loan marketing and advertising, could trouble be brewing on the deposit front? Perhaps -- if the economy continues a downward trend and more investments hit rocky roads. (Mon, 18 Feb 2008 20:45:30 GMT)
Titularizadora to Sell Mortgage-Backed Bonds By March (Update1)
Feb. 18 (Bloomberg) -- Titularizadora Colombiana SA, South America's largest buyer of home loans, plans to sell 323.3 billion pesos ($118 million) of mortgage-backed securities, according to a person with knowledge of the transaction. (Mon, 18 Feb 2008 20:46:48 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, 18 Feb 2008 21:39:24 GMT)
Aussies giving up on home ownership dream
Housing affordability has sunk so low that the majority of Australians who have yet to take out a mortgage expect that they may never purchase a home, new figures show. (Mon, 18 Feb 2008 23:13:39 GMT)
Mexican Financial Association Sees Slower Loan Growth In '08
MEXICO CITY -(Dow Jones)- Mexico's finance companies will likely see slower loan growth and a deterioration in asset quality this year as the economy slows, according to Mario Sandoval, president of the Mexican Association of Specialized Financial Institutions. (Mon, 18 Feb 2008 23:15:49 GMT)
Housing Slump Hits Home For Many
Kathy George is the familiar face of a real-estate market in crisis: She is about to lose her home. Her story is all too common. (Tue, 19 Feb 2008 00:29:20 GMT)
Mortgage diversion big part of KiwiSaver
The term "mortgage diversion" will be on more and more lips as KiwiSaver approaches its first anniversary in July. (Tue, 19 Feb 2008 01:35:18 GMT)
Celtic aim for home success against Barcelona
Scottish champions are optimistic that their formidable home record in Europe can help them prevail when they face Barcelona at Parkhead. (Tue, 19 Feb 2008 01:41:27 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Tue, 19 Feb 2008 01:53:44 GMT)
Are you in the market for a jumbo mortgage? We want to talk to you
Are you in the market for a jumbo mortgage, one above $417,000? The federal government has raised the ceiling on mortgages that Fannie Mae and Freddie Mac may guarantee, increasing the prospect that such financing will become more readily available this year. (Tue, 19 Feb 2008 02:09:43 GMT)
Mayor Melton's Mortgage Problem Concerns Some Jackson Residents
Jackson Residents Fear Mayor Melton's Mortgage Problem Reflective of City Management (Tue, 19 Feb 2008 02:15:54 GMT)
Get Extra Cash By Refinancing Your Car
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 19 Feb 2008 02:41:18 GMT)
Are you in the market for a jumbo mortgage? We want to talk to you
Are you in the market for a jumbo mortgage, one above $417,000? The federal government has raised the ceiling on mortgages that Fannie Mae and Freddie Mac may guarantee, increasing the prospect that such financing will become more readily available this year. (Tue, 19 Feb 2008 02:41:55 GMT)
Britain criticized for nationalizing mortgage lender
Prime Minister Gordon Brown's government faced accusations of mismanagement Monday as it began nationalizing stricken mortgage lender Northern Rock. (Tue, 19 Feb 2008 02:51:52 GMT)
No Lull in Mortgage Pitches
The mortgage market may be in a historic upheaval, but mortgage companies continue to pump out upbeat advertisements. (Tue, 19 Feb 2008 03:39:07 GMT)
Regulators going after Wall Street banks over subrime mortgage meltdown
BOSTON — State and federal regulators are trying to punish Wall Street for the subprime mortgage meltdown. (Tue, 19 Feb 2008 05:21:04 GMT)
Louisville setting up home-loan hotline
Mayor Jerry Abramson announced the start of a counseling hotline Monday for people at risk of losing their homes amid rising foreclosure rates stretching from the inner city to high-priced subdivisions in Kentucky's largest city. Abramson said the hotline is meant to bridge a frequent communication gap between lenders and borrowers. Studies show that people often are evicted from their homes ... (Tue, 19 Feb 2008 08:14:46 GMT)
Wall St. caught in subprime mortgage backlash
BOSTON — Regulators are trying to punish Wall Street for mortgage finance practices that, besides expanding home ownership and spreading risk among a host of new players, may have duped borrowers and investors who supplied cash to fuel a housing boom that has turned bust. (Tue, 19 Feb 2008 08:19:50 GMT)
VA Mortgage Center.com Releases Downloadable VA Home Loan Guide
This week VA Mortgage Center.com released a free, downloadable VA Home Loan Guide. The 14-page PDF file addresses the aspects of VA Home Loans that make them unique from conventional loans. It also provides instructions for Veterans to aid in obtaining their loan. Recent years have seen nearly 90% of eligible Veterans not use their benefits on a VA Loan, with many being steered into risky ... (Tue, 19 Feb 2008 08:24:40 GMT)
Mortgage Qualification Calculator Available for Websites
MoneyToys(tm) new Mortgage Qualification Calculator for real estate web sites gives visitors an easy-to-use financial calculator which calculates how much they can afford to borrow for a mortgage loan using historically safe underwriting standards. Accommodates co-borrowers and displays details of three sample loans based on the income and debt information provided by the user. Easily installed ... (Tue, 19 Feb 2008 08:25:20 GMT)
Countrywide names home-loan consultant for Bellingham
Randy Matz recently was named a home-loan consultant for the Bellingham office of Countrywide Home Loans. (Tue, 19 Feb 2008 08:29:03 GMT)
Britain moves to nationalize mortgage firm
Prime Minister Gordon Brown's government faced accusations of mismanagement Monday as it began nationalizing stricken mortgage lender Northern Rock PLC — the first time in 20 years that a private company has been taken into public ownership. (Tue, 19 Feb 2008 08:33:22 GMT)
Baltimore among cities, regulators pursuing mortgage misdeeds
Regulators are trying to punish Wall Street for mortgage finance practices that expanded homeownership and spread risk among a host of new players - but also may have duped borrowers and investors who supplied cash to fuel a housing boom that's turned bust. (Tue, 19 Feb 2008 08:45:17 GMT)
Democrats seek student loan assistance from administration / Lawmakers say system needs stable cash reserves to survive
Democratic members of the House are asking the Bush administration to shore up the shaken student loan market before the situation worsens and students are deprived of the chance to attend college. Rep. Paul Kanjorski, D-Pa., chairman of the House Financial... (Tue, 19 Feb 2008 08:47:11 GMT)
McCall eyeing home loan deals to ease crock crisis
PARTICK THISTLE gaffer Ian McCall may be forced to use the emergency loan system after his squad was further depleted by injuries at Dunfermline at the weekend. (Tue, 19 Feb 2008 10:28:26 GMT)
Louisville hot line to offer mortgage help
Louisville metro government is organizing a phone-athon from 4 to 9 p.m. tomorrow and Thursday to help homeowners with mortgage problems. (Tue, 19 Feb 2008 10:45:26 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? (Tue, 19 Feb 2008 10:53:34 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, 19 Feb 2008 10:54:04 GMT)
Loan based on home's fair market value
Lenders sometimes use appraised value when determining the financing of a home purchase, says Dr. Don Taylor. (Tue, 19 Feb 2008 11:00:00 GMT)
Bank Islam Offers Plan To Reduce Burden On Housing Loan Borrowers (Malaysian National News Agency
KUALA LUMPUR, Feb 19 (Bernama) -- Bank Islam Malaysia Bhd has introduced an innovative financial plan to reduce the burden on housing loan borrowers whereby they can opt for a payment holiday in November and December every year. (Tue, 19 Feb 2008 11:09:08 GMT)
Maybank offers three-year fixed rate home loan package
Maybank has introduced a new three-year fixed rate home loan package in Singapore, which offers an interest rate of 1.68 % pa for the first year. (Tue, 19 Feb 2008 11:25:05 GMT)
Bernanke Turns Notes Into Losers as Refinancing Rises (Update2)
Feb. 19 (Bloomberg) -- The more Federal Reserve Chairman Ben S. Bernanke cuts interest rates, the less appealing 10-year Treasuries become to investors like Doug Dachille, chief executive officer of First Principles Capital Management LLC. (Tue, 19 Feb 2008 11:37:01 GMT)
Mortgage mess makes Wall Street a target
BOSTON — Regulators are trying to punish Wall Street for mortgage finance practices that expanded home ownership and spread risk among a host of new players — but also may have duped borrowers and investors who supplied cash to fuel a housing boom that's turned bust. (Tue, 19 Feb 2008 11:45:20 GMT)
Mortgage rate rise 'shock' fades
People whose fixed-rate mortgages expire this year will face a smaller "payment shock" than first predicted. (Tue, 19 Feb 2008 12:10:44 GMT)
Get Extra Cash By Refinancing Your Car
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 19 Feb 2008 12:23:38 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. (Tue, 19 Feb 2008 13:23:47 GMT)
How to tell if now is the time to refinance
A sharp drop in mortgage rates has sparked a wave of refinancing. But not everyone qualifies. Here is a guide on whether refinancing might be a good option for you. (Tue, 19 Feb 2008 13:43:25 GMT)
Rock mortgage book 'shrunk'
A mortgage broker suggests that Northern Rock is already set to lose 50% of mortgage business in two years. (Tue, 19 Feb 2008 13:44:46 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Tue, 19 Feb 2008 13:55:07 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, 19 Feb 2008 13:56:27 GMT)
Bernanke Turns Notes Into Losers as Refinancing Rises (Update3)
Feb. 19 (Bloomberg) -- The more Federal Reserve Chairman Ben S. Bernanke cuts interest rates, the less appealing 10-year Treasuries become to investors like Doug Dachille, chief executive officer of First Principles Capital Management LLC. (Tue, 19 Feb 2008 15:07:14 GMT)
Lenders withdraw mortgage products
Two mortgage lenders have announced that they are withdrawing products which combine a mortgage with a personal loan. Alliance & Leicester said it was withdrawing its PlusMortgage, while Coventry Building Society said it would no longer offer its MOREgage product. (Tue, 19 Feb 2008 17:01:00 GMT)
'New' Conforming Loan Limits Look Limited
Before you all go running to your mortgage brokers, screaming to refi your adjustable rate mortgages into good ol’ 30-year fixed rate loans under the “new temporary” conforming loan limits agreed to in the recently-signed stimulus package, take a breath. (Tue, 19 Feb 2008 17:06:31 GMT)
Mortgage lenders pull 125% deals
High-street lenders pull 125% deals as the mortgage market tightens (Tue, 19 Feb 2008 17:33:47 GMT)
Fitch Affirms Banc of America Commercial Mortgage, Series 2001-1
Fitch Ratings affirms Banc of America Commercial Mortgage Inc.'s (BACM) commercial mortgage pass-through certificates, series 2001-1, as follows: (Tue, 19 Feb 2008 17:39:23 GMT)
O'Malley targets mortgage industry for role in foreclosure crisis
He calls on loan servicing companies to meet, after receiving customer complaints Gov. Martin O'Malley today accused the mortgage industry of failing to follow through on promised help for troubled homeowners facing foreclosure and called on a dozen loan servicing companies to meet with him in Annapolis next week. (Tue, 19 Feb 2008 19:13:13 GMT)
Group: More People Can Afford First Home
Frustrated California renters take heed: A trade group says it's getting easier for people to afford their first home. With home prices in a downward spiral in many once-booming areas, the percentage of California households that can afford to finance an entry-level home increased in the last three months of 2007 compared to the same period a year earlier, the California Association of Realtors ... (Tue, 19 Feb 2008 20:23:25 GMT)
Md. Gov Wants Loan Companies to Shape Up
Frustrated by busy signals and unreturned calls from loan companies as he tries to address a spike in foreclosures, Maryland Gov. Martin O'Malley said Tuesday that loan servicers need to improve customer service or face sanctions from state regulators. (Tue, 19 Feb 2008 20:42:04 GMT)
Realtors project existing-home sales to remain steady
The National Association of Realtors predicts soft market conditions for existing-home sales will continue in the months ahead, but expects some improvement by the second half of this year, as loan limits are increased. (Tue, 19 Feb 2008 21:11:52 GMT)
Mortgage assistance options explained
While trying to understand the new Internal Revenue Service guidelines regarding the ability to deduct mortgage insurance premiums, the topic of unemployment insurance surfaced with regard to the Hollywood writers strike. (Tue, 19 Feb 2008 21:37:09 GMT)
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