Mortgage News Feb 2008
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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 22:42:42 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 23:57:16 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? (Tue, 19 Feb 2008 23:57:26 GMT)
Melton Settles Mortgage "Mix up"
Mayor Frank Melton of Jackson has apparently worked out his differences with the bank that holds the mortgage on his house. The lawyer for Omni Bank, William Little, has told reporters it was worked out on the phone, but would not comment further. (Wed, 20 Feb 2008 00:26:22 GMT)
Accredited Home Lenders Holding Says James Konrath Retires As Chairman And CEO - Quick Facts
(RTTNews) - Accredited Home Lenders Holding Co. and its subsidiary, Accredited Mortgage Loan REIT Trust (AHHAP.PK) on Tuesday revealed the retirement of James Konrath as Chairman and Chief Executive Officer effective immediately. (Wed, 20 Feb 2008 01:08:19 GMT)
BoE's housing expert warns of shock rise in mortgage bills
Many homeowners are facing a "significant" shock in the coming months as they experience a sudden leap in their mortgage bills, the Bank of England's housing expert has warned. (Wed, 20 Feb 2008 01:21:05 GMT)
Is It Time To Refinance?
Mortgage rates are again below 6 percent. Some local homeowners are already refinancing and they're finding out they can save a lot of money. A year ago, interest rates were around 6.3 percent. (Wed, 20 Feb 2008 01:45:00 GMT)
Grand Strand mortgage clinic
There's help for troubled homeowners on the Grand Strand. Posted: Tuesday, February 19, 2008 at 11:16 p.m. Tuesday February 26th, the Homeownership Resource Center will be sponsoring a mortgage default clinic. (Wed, 20 Feb 2008 04:26:53 GMT)
How Does the Subprime Mortgage Crisis Affect the Real Estate Industry? New York Law School's Center for Real Estate ...
The Center for Real Estate Studies at New York Law School will discuss the subprime mortgage crisis and its effects on the real estate sector with a panel of experts at a free breakfast forum titled "The Subprime Mortgage Crisis: Implications for the Real Estate Market," Wednesday, February 27 at 8:15 a.m. at the Law School, located on 47 Worth Street. (Wed, 20 Feb 2008 07:01:00 GMT)
O'Malley chastises mortgage industry
He decries low level of service for those facing foreclosure Gov. Martin O'Malley accused the mortgage industry yesterday of failing to follow through on promised assistance for homeowners facing foreclosure and called on more than two dozen loan servicers to meet with him in Annapolis next week. (Wed, 20 Feb 2008 08:45:50 GMT)
How Does the Subprime Mortgage Crisis Affect the Real Estate Industry? New York Law School's Center for Real Estate ...
The Center for Real Estate Studies at New York Law School will discuss the subprime mortgage crisis and its effects on the real estate sector with a panel of experts at a free breakfast forum titled "The Subprime Mortgage Crisis: Implications for the Real Estate Market," Wednesday, February 27 at 8:15 a.m. at the Law School, located on 47 Worth Street. (PRWeb Feb 20, 2008) Read the full story ... (Wed, 20 Feb 2008 08:47:55 GMT)
Mortgage lending lift in January
Gross mortgage lending rose in January despite unsettled market conditions, industry figures show. (Wed, 20 Feb 2008 10:23:36 GMT)
Mortgage lending rises by 11%, but outlook remains uncertain
Housing market worries are likely to keep mortgage lending at a low level, despite a surprise jump in figures for January (Wed, 20 Feb 2008 10:46:45 GMT)
Wachovia's big mortgage buy
The street has never much cared for Wachovia's 2006 purchase of Golden West Financial for $24 billion. Even before the mortgage industry went splat, skeptics felt Wachovia CEO Ken Thompson was paying too much for Golden West's abundance of pay-option adjustable-rate mortgages, or option ARMs, clustered in the frothy California real estate market. Still, Herb and Marion Sandler, the husband and ... (Wed, 20 Feb 2008 10:55:55 GMT)
Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether mortgage applications declined for the second straight week in the face of higher interest rates. (Wed, 20 Feb 2008 11:14:56 GMT)
ABN AMRO Banks On Input Accel To Process Mortgage Documents, Saves Nearly $500,000 Annually
ABN AMRO Services Company, a subsidiary of one of the world's largest banking groups, was looking to make mortgage processing quicker and more efficient. The company found a solution in InputAccel, a document capture system from EMC Captiva. Submitted by EMC Captiva (Wed, 20 Feb 2008 11:25:16 GMT)
Home Federal opens in Maryville
A long-established savings and loan has branched out after more than a century in Collinsville. (Wed, 20 Feb 2008 11:42:46 GMT)
O'Malley chastises mortgage industry
He decries low level of service for those facing foreclosure Gov. Martin O'Malley accused the mortgage industry yesterday of failing to follow through on promised assistance for homeowners facing foreclosure and called on more than two dozen loan servicers to meet with him in Annapolis next week. (Wed, 20 Feb 2008 11:46:00 GMT)
Mortgage Application Volume Plummets
Mortgage application volume tumbled 22.6 percent during the week ending Feb. 15 as most interest rates rose, according to the Mortgage Bankers Association's weekly application survey. (Wed, 20 Feb 2008 12:11:32 GMT)
Week-to-week mortgage applications down 22.6%, MBA says
CHICAGO (MarketWatch) -- Mortgage applications filed last week dropped a seasonally adjusted 22.6% from the previous week, as interest rates on fixed-rate mortgages increased, the Mortgage Bankers Association reported Wednesday. (Wed, 20 Feb 2008 12:15:04 GMT)
Mortgage lender in profits warning
Alliance & Leicester has warned that soaring funding costs would leave 2008 earnings lower than last year as it suffers amid the credit crunch. The mortgage bank said the crisis in credit markets would cost it an extra £150 million a year in securing funds for new business. (Wed, 20 Feb 2008 13:00:58 GMT)
U.S. MBA's Mortgage Applications Index Declined 23% Last Week
Feb. 20 (Bloomberg) -- Mortgage applications in the U.S. dropped by the most in more than four years as the highest mortgage rates in two months weakened demand for home buying and refinancing. (Wed, 20 Feb 2008 13:06:59 GMT)
Mortgage applications slip, interest rates jump
The Mortgage Bankers Association's weekly application survey stated that mortgage application volume dropped 22.6 % during the week ending Feb. 15 as most interest rates grew. (Wed, 20 Feb 2008 13:37:46 GMT)
DA: Grandmother Hit By Mortgage Scam
Three men have been charged in a sophisticated mortgage scam that could cost a grandmother her home, the Denver District Attorney's Office said. Prosecutors believe there could be more victims. (Wed, 20 Feb 2008 14:52:42 GMT)
Mortgage Applications Tumbled 22.6 Percent Last Week
(RTTNews) - Mortgage applications plunged 22.6 percent last week, according to a survey released Wednesday by the Mortgage Bankers Association. (Wed, 20 Feb 2008 15:15:36 GMT)
NYC Churches Offer Mortgage Crisis Counseling
Nonprofit agencies will offer workshops after church services in parts of Brooklyn and Queens hit hardest by the subprime mortgage crisis. Roman Catholic Bishop Nicholas DiMarzio and Sen. Charles Schumer announced the grassroots effort on Wednesday. (Wed, 20 Feb 2008 15:49:59 GMT)
Home loan demand plunges as interest rates rise
Mortgage applications plunged last week, and demand hit its lowest level since the start of the year as interest rates surged, an industry group said Wednesday. (Wed, 20 Feb 2008 15:52:16 GMT)
U.K. May Not Own Northern Rock's Best Mortgage Assets (Update1)
Feb. 20 (Bloomberg) -- The Conservative Party said the U.K. government won't own the ``best half'' of Northern Rock's mortgage book when it nationalizes the struggling lender this week. (Wed, 20 Feb 2008 16:01:19 GMT)
Mortgage application volume plummets
Mortgage application volume tumbled 22.6 percent during the week ending Feb. 15 as most interest rates rose, according to the Mortgage Bankers Association's weekly application survey. (Wed, 20 Feb 2008 16:28:32 GMT)
Consider a reverse mortgage
Mortgage payments sucking you dry? Boomers short on retirement savings may have another option: reverse mortgages. Can these complicated products fill the gap? (Wed, 20 Feb 2008 16:56:07 GMT)
Nonprofits offer mortgage counseling at NYC churches
Nonprofit agencies will offer workshops after church services in parts of Brooklyn and Queens hit hardest by the subprime mortgage crisis. (Wed, 20 Feb 2008 17:06:47 GMT)
Home Loan Apps Dip, Goods Get Pricier
The Mortgage Bank Association announced a decline in home loan appilcations. Department of Labor announces a spike in CPI rates. (Wed, 20 Feb 2008 17:13:14 GMT)
Congress for a cut down in home loan rates for single women
Congress today asked Finance Minister P Chidambaram to consider a cut down in the home loan rates for single women in the budget. (Wed, 20 Feb 2008 17:22:09 GMT)
Mortgage applications fall as interest rates rise
HIGHER INTEREST RATES last week discouraged buyers and homeowners looking to refinance, the MBA said. (Wed, 20 Feb 2008 17:39:44 GMT)
Homeowner Rethinks Mortgage Insurance
Connecticut homeowner Deanna Bray says she wasted money on private mortgage insurance premiums for three years. (Wed, 20 Feb 2008 19:20:08 GMT)
$5.5 million U.S. grant to aid Calif ex-mortgage sector workers
The federal government is giving California a $5.5 million grant to help workers who lost their jobs at mortgage lending companies and other financial institutions hammered by the housing market downturn. The U.S. Department of Labor said Wednesday it... (Wed, 20 Feb 2008 20:08:58 GMT)
Churches to Offer Mortgage Counseling
Nonprofit agencies will offer workshops after church services in parts of Brooklyn and Queens hit hardest by the subprime mortgage crisis. Roman Catholic Bishop Nicholas DiMarzio and Senator Charles.... (Wed, 20 Feb 2008 20:55:53 GMT)
Mortgage crisis: Don't forgive debt, just postpone repayment
A plan that would help troubled mortgage borrowers today - and might make lenders whole later on - was unveiled Wednesday in Washington. (Wed, 20 Feb 2008 21:56:15 GMT)
New Online Document Storage Allows myClosingSPACE.com Customers to Monitor Status of All Mortgage and Closing Documents
"Are my mortgage documents ready?" "Does the lender or attorney have all the documents (Wed, 20 Feb 2008 22:20:25 GMT)
Mortgage rates skyrocket
Mortgage rates skyrocketed this week as investors fretted about a pickup in inflation. (Wed, 20 Feb 2008 22:35:00 GMT)
A&L to rein back mortgage lending
Alliance & Leicester plans to reduce mortgage lending this year after it reported a 30 per cent slide in 2007 pre-tax profits in the wake of £185m writedowns on its Treasury assets. (Wed, 20 Feb 2008 23:00:11 GMT)
Fla. Home Foreclosure Crisis Targeted
Travis Munnerlyn just wanted to add on to his Orlando home to make room for grandkids coming to live with him and his wife. A couple years later, he can't make the increasing payments on his adjustable rate loan -- not even close -- and he could lose the house. (Wed, 20 Feb 2008 23:05:42 GMT)
Mortgage lending bill fate now uncertain at Oregon Legislature
SALEM — Supporters of a plan to reform subprime mortgage lending say its future is now uncertain in the Oregon Legislature, after proposed changes alienated both consumer advocates and mortgage industry representatives. (Wed, 20 Feb 2008 23:47:37 GMT)
Large lenders start to exit 100 per cent mortgage market
Britain's largest lenders have begun to withdraw from the 100 per cent mortgage market, raising their prices and increasingly refusing to lend any more than 90 per cent of a property's value. (Thu, 21 Feb 2008 01:08:06 GMT)
Habitat Refinancing Loan After Spanish Builder Violates Terms
Feb. 21 (Bloomberg) -- Promociones Habitat SA, the Spanish developer that broke terms of its loan last year, may refinance 1.6 billion euros ($2.3 billion) of debt this week after three months of negotiations, three of its bankers said. (Thu, 21 Feb 2008 01:29:12 GMT)
At Your Service: Mortgage brokerage offers to answer complainant's questions
We bought our home through a local broker. Upon refinancing, we found an extra $11,000 was taken on the original loan. I don’t recall them giving us a copy before closing on our loan. If they had, we would have noticed the extra money that this broker got. (Thu, 21 Feb 2008 04:24:09 GMT)
First loan for storm victim approved
The first home disaster loan for a Tennessee victim of the Feb. 5 tornadoes has been approved by the U.S. Small Business Administration. (Thu, 21 Feb 2008 06:11:12 GMT)
Mortgage Plan Seeks To Stem Foreclosures
The Office of Thrift Supervision is preparing a plan to help mortgage borrowers who owe more than their homes are worth and to discourage them from abandoning those properties, agency officials said yesterday. (Thu, 21 Feb 2008 06:33:04 GMT)
Submit Your Mortgage Questions
Have questions about the mortgage crisis? Call 3 is teaming up with the California Association of Mortgage Brokers for a Call 3 Call-In from 5 a.m. to 7 p.m. Thursday. Call 916-447-2255. (Thu, 21 Feb 2008 07:24:54 GMT)
Mortgage industry job help
More than 100 laid-off workers from the mortgage industry packed into a Pleasant Hill classroom on Wednesday to hear advice about finding new jobs. In many cases, that may mean switching to new professions. "You are all here because your jobs are no longer... (Thu, 21 Feb 2008 08:24:43 GMT)
Grant to help mortgage workers
California plans to spend up to $5.6 million in federal grant money to retrain mortgage industry workers who lost their jobs in the wake of the sub-prime lending meltdown, Gov. Arnold Schwarzenegger said Wednesday. (Thu, 21 Feb 2008 08:27:11 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, 21 Feb 2008 09:13:29 GMT)
Mortgage Choice posts record profit
Mortgage broking firm Mortgage Choice has defied the subprime crisis in the US and rising interest rates in Australia to post a record profit. (Thu, 21 Feb 2008 10:33:00 GMT)
Mortgage hot line, 211, fields more than 200 calls
In its first 90 minutes of operation the 211 hot line for those in mortgage trouble fielded more than 200 calls today. (Thu, 21 Feb 2008 10:45:55 GMT)
Mortgage rates skyrocket
The 30-year benchmark mortgage rate rose to 6.37 percent this week as investors fretted about a pickup in inflation. (Thu, 21 Feb 2008 11:00:00 GMT)
Russia mortgage agency to sell $436 mln bonds Feb 27
MOSCOW, Feb 21 - A subsidiary of Russia's mortgage agency will issue 10.7 billion roubles of residential mortgage-backed securities on Feb. 27, it said on Thursday. (Thu, 21 Feb 2008 11:47:46 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, 21 Feb 2008 14:56:11 GMT)
Northern Rock ditches Together home loan
Northern Rock, the pioneer of the 125 per cent mortgage, has pulled out of the market and ditched its Together home loan, writes Paul Farrow. (Thu, 21 Feb 2008 15:18:35 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, 21 Feb 2008 15:42:08 GMT)
Rock ends 125% mortgage
Troubled Northern Rock bank is to stop offering its "Together" combined mortgage and loan deal. (Thu, 21 Feb 2008 15:57:28 GMT)
Local broker earns National Mortgage Industry Certification
Michael Bosley, a mortgage broker at Wheatland Mortgage Corporation of Dodge City became one of a small percentage of mortgage professional to attain standing as a nationally recognized Certified Residential Mortgage Specialist. (Thu, 21 Feb 2008 16:04:21 GMT)
Treasury studying home refinance plan
The U.S. Treasury Department is studying a new regulatory proposal aimed at prodding servicers to help homeowners facing foreclosure to refinance their mortgages, the department's undersecretary, Bob Steel, said on Thursday. (Thu, 21 Feb 2008 16:55:10 GMT)
Nonprofit Groups Find Insurers Unwilling to Refinance Bonds
Nonprofit groups trying to refinance bonds to avoid extra costs have run into unexpected obstacles from insurance agencies, reports The Boston Globe. (Thu, 21 Feb 2008 17:54:25 GMT)
Big increase in mortgage rates
Mortgage rates spiked this week, with the average conforming 30-year fixed mortgage rate now 6.37 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. (Thu, 21 Feb 2008 18:21:38 GMT)
Big increase in mortgage rates
NEW YORK -- Mortgage rates spiked this week, with the average conforming 30-year fixed mortgage rate now 6.37 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. (Thu, 21 Feb 2008 18:27:00 GMT)
Tonight's mortgage hot line 'phone-a-thon' canceled
A second "phone-a-thon" to counsel those with mortgage problems in the Louisville area has been canceled tonight due to icy weather. (Thu, 21 Feb 2008 18:44:45 GMT)
Former area mortgage broker sentenced for fraud
A one-time area mortgage broker was sentenced Wednesday to seven years in prison for a mortgage fraud scheme in Florida that netted him and his partners more than $4 million. (Thu, 21 Feb 2008 18:53:33 GMT)
Subprime mortgage bill makes it through Oregon House
A bill to reform the subprime mortgage lending industry has squeaked through the Oregon House. (Thu, 21 Feb 2008 21:00:38 GMT)
Seven Stupendous Mortgage Deals
Here's our Magnificent Seven of mortgages to help you make a Foolish choice on your next mortgage deal. (Thu, 21 Feb 2008 21:11:18 GMT)
Ch 11 Judge Mulls Mortgage Lender Fees
Amid mounting allegations of abuse by big lenders, a federal judge has indicated he is leaning toward to reining in mortgage companies that have been foreclosing on consumers who brought their home loan payments up to date while in bankruptcy. (Thu, 21 Feb 2008 21:44:14 GMT)
Subprime Mortgage Bill Squeaks Through House
SALEM, Ore. - A bill to reform the subprime mortgage lending industry has squeaked through the Oregon House. It's a big win for House Speaker Jeff Merkley. The Portland Democrat wants to spotlight the issue in his campaign for the U.S. Senate. (Thu, 21 Feb 2008 22:03:51 GMT)
Barclays Lobbied on Mortgage Reform
Barclays PLC spent $1.11 million in 2007 to lobby the federal government on a broad range of legislation related to the mortgage and financial services industries. (Thu, 21 Feb 2008 22:07:32 GMT)
Grassroots Effort Offers Mortgage Counseling At NYC Churches
NEW YORK (AP) -- Nonprofit agencies will offer workshops after church services in parts of Brooklyn and Queens hit hardest by the subprime mortgage crisis. (Thu, 21 Feb 2008 22:23:43 GMT)
Bank Islam scheme to ease home loan burden
KUALA LUMPUR: Bank Islam Malaysia Bhd has introduced an innovative financial plan to reduce the burden on home financing customers, who can opt for a payment holiday in November and December every year. (Thu, 21 Feb 2008 23:16:30 GMT)
Economy - Thursday
The 30-year fixed-rate mortgage shot up 32 basis points to 6.04% in the week ended Feb. 21, reversing some recent declines. The 15-year fixed-rate home loan rose 39 ticks to 5.64%. But the 1-year adjustable rate fell 2 basis points to 4.98%. The moves generally track Treasury yields. Long-term Treasury rates have surged in recent weeks on growth and inflation outlooks; short-term rates have ... (Thu, 21 Feb 2008 23:38:43 GMT)
House passes mortgage prepayment ban
One of the more contentious reforms sought by consumer groups represented on the state's mortgage work group has passed the Oregon House. (Fri, 22 Feb 2008 01:08:47 GMT)
Mortgage Program May Expand
Rell To Recommend Changes For Wider Reach Under pressure from state legislators and the public, Gov. M. Jodi Rell said Thursday she will recommend expanding a state program to help more homeowners threatened with foreclosure because of huge increases in monthly mortgage bills. (Fri, 22 Feb 2008 03:08:18 GMT)
Court hands house to man who hasn't paid his mortgage for 15yrs
Court hands house to man who hasn't paid his mortgage for 15yrs (Fri, 22 Feb 2008 04:03:29 GMT)
Former area mortgage broker gets seven years for Florida fraud
A one-time area mortgage broker was sentenced Wednesday to seven years in prison for a Florida mortgage fraud scheme that netted him and his partners more than $4 million. (Fri, 22 Feb 2008 04:42:20 GMT)
Bill takes aim at mortgage crisis
HARTFORD — State-chartered banks are not responsible for the subprime mortgage crisis that's threatening thousands of Connecticut homeowners with rising interest rates and possible foreclosure, (Fri, 22 Feb 2008 04:54:04 GMT)
Countrywide in Crosshairs as Mortgage Crisis Fuels Litigation
Fortune 250 GCs who also serve as litigation chiefs, is facing huge lawsuits on all fronts from disgruntled investors and shareholders to mortgage customers and government regulators. (Fri, 22 Feb 2008 05:10:11 GMT)
HOME NO LOAN
Court hands house to man who hasn't paid his mortgage for 15yrs (Fri, 22 Feb 2008 06:49:43 GMT)
Mortgage bill wounded, still alive
A scaled-back mortgage reform proposal limped through the Oregon House on Thursday, and today it's headed for battle in the Senate. Mortgage industry lobbyists, who've pushed hard for months to defeat the reforms, thought they had beaten back House Bill 3603. (Fri, 22 Feb 2008 08:01:18 GMT)
Mortgage reforms beaten back
Mortgage industry lobbyists have fended off most of the lending-practice reforms sought by a Portland advocacy group and other consumer groups during the Oregon Legislature’s ongoing special session this month. A sweeping subprime-lending reform proposal by Sen. Ben Westlund, D-Tumalo, was ... (Fri, 22 Feb 2008 08:11:47 GMT)
Financing available for home repairs
Erie residents who met income guidelines have a new program to help finance home repairs. The Erie Redevelopment Authority announced Thursday that it will administer the Renovate and Repair Home Loan Program offered through the Pennsylvania Housing Finance Agency. (Fri, 22 Feb 2008 08:12:09 GMT)
Home-sales upturn seen in second half
A continuation of soft market conditions is forecast for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased, says the latest forecast by the National Association of Realtors (NAR). (Fri, 22 Feb 2008 08:12:15 GMT)
Jumbo loan rates still in the air
A trade group plan could mean the mortgage rates might stay higher than borrowers expect. George DeAnda wants to refinance his $540,000 mortgage. So like many homeowners with so-called jumbo loans, the Yorba Linda resident has been anxiously awaiting new government rules that were expected to make big mortgages more available and less expensive. (Fri, 22 Feb 2008 08:24:03 GMT)
Court hands house to man who hasn't paid his mortgage for 15yrs
Court hands house to man who hasn't paid his mortgage for 15yrs (Fri, 22 Feb 2008 09:41:51 GMT)
Shays hosts forums on subprime mortgage crunch
Housing and mortgage experts on the state and federal level will be featured panelists at a pair of forums in Stamford and Bridgeport tomorrow to address the subprime mortgage crisis. (Fri, 22 Feb 2008 09:52:57 GMT)
Mortgage companies still pumping out upbeat advertising
The mortgage market may be in a historic upheaval, but mortgage companies continue to their upbeat advertisements. Countrywide Financial brags in its ads that "No one can do what Countrywide can" and that "Countrywide can show you the way home. (Fri, 22 Feb 2008 10:00:54 GMT)
House passes subprime-mortgage bill
SALEM -- A bill to make modest reforms to the subprime mortgage lending industry squeaked through the Oregon House Thursday, a big win for House Speaker Jeff Merkley who has made it clear that he intends to highlight the issue in his campaign for the U.S. Senate. (Fri, 22 Feb 2008 11:16:19 GMT)
Mortgage crunch hits credit union
PLEASANTON -- Sterlent Credit Union has lurched into a mire of mortgage failures and red ink, making it the second East Bay credit union in recent months to be jolted by debris unleashed by widening woes in the housing market. (Fri, 22 Feb 2008 11:37:19 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? (Fri, 22 Feb 2008 12:06:08 GMT)
Finance Ireland falls on mortgage product withdrawal
Shares in Finance Ireland have slid after the niche lending firm said it is temporarily withdrawing its lifetime mortgage products from the Irish market with immediate effect. (Fri, 22 Feb 2008 13:00:00 GMT)
British mortgage lender Northern Rock is nationalized
Britain's troubled mortgage lender Northern Rock was officially transferred to state ownership on Friday, paving the way for a new management team to begin a strategic review of the business and for a government-appointed committee to consider compensation for shareholders. (Fri, 22 Feb 2008 13:12:49 GMT)
ANDERSON TO MAKE HOME BOW
Promotion-chasing Plymouth are set to hand a home bow to new on-loan Sunderland central defender Russell Anderson in the home clash with play-off rivals Burnley. (Fri, 22 Feb 2008 13:14:14 GMT)
Vestin Realty Mortgage I, Inc. Declares Monthly Dividend of $0.041 Per Share For The Month of February 2008 and Share ...
Vestin Realty Mortgage I, Inc. (Nasdaq:VRTA) a real estate investment trust (the "Company") (Fri, 22 Feb 2008 16:57:58 GMT)
Top tips: Avoid rollover and refinancing penalties
Question 1: (Fri, 22 Feb 2008 16:58:00 GMT)
Death Of The Cheap Mortgage Deal
Where have all the cheap mortgage deals gone? Donna Werbner explains how to beat the credit crunch. (Fri, 22 Feb 2008 17:03:03 GMT)
Ore. House OKs Mortgage Reform Bill
A bill to make modest reforms to the subprime mortgage lending industry squeaked through the Oregon House Thursday, a big win for House Speaker Jeff Merkley who has made it clear that he intends to highlight the issue in his campaign for the U.S. (Fri, 22 Feb 2008 17:50:36 GMT)
Avoid rollover and refinancing penalties
Do we have to claim our government rebate checks as income on our 2008 tax return? - Dusti, Idaho (Fri, 22 Feb 2008 18:24:05 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, 22 Feb 2008 18:25:47 GMT)
Columbus restaurant owner one of two people indicted in mortgage scam
DELAWARE, Ohio — Two people accused of running a multi-million-dollar mortgage fraud ring were indicted today by a Delaware County grand jury. Gihan “Gigi” Zalat, 40, and Scott McCann, 45, both of Columbus, face identical charges in 14-count indictments. (Fri, 22 Feb 2008 19:13:07 GMT)
Subprime mortgage reform bill though the House
SALEM — A bill to make modest reforms to the subprime mortgage lending industry squeaked through the Oregon House Thursday, a big win for House Speaker Jeff Merkley who has made it clear that he intends to highlight the issue in his campaign for the U.S. Senate. (Fri, 22 Feb 2008 19:22:41 GMT)
East Bay mortgage companies merge with BWC Mortgage Services
Four mortgage companies in the East Bay have merged with BWC Mortgage Services of San Ramon, forming a retail mortgage lender with annual origination volume of more than $2 billion. (Fri, 22 Feb 2008 19:30:27 GMT)
Shays hosts forums on subprime mortgage crunch
Housing and mortgage experts on the state and federal level will be featured panelists at a pair of forums in Stamford and Bridgeport tomorrow to address the subprime mortgage crisis. (Fri, 22 Feb 2008 19:43:23 GMT)
Burley, Whisnant Buck Mortgage Reforms
A bill to make small reforms to the subprime mortgage lending industry narrowly passed the Oregon House yesterday, with no help from Central Oregon’s two Republican legislators. (Fri, 22 Feb 2008 20:30:02 GMT)
Valuable paintings stolen 31 years ago found in Bristol home
BRISTOL — Three valuable paintings stolen in a brazen 1976 armed robbery in Shrewsbury, Mass., are in the hands of the FBI, after they were surrendered by a Bristol attorney who received them from his brother, a Barrington art dealer, as collateral for a $22,000 loan six or seven years ago. (Fri, 22 Feb 2008 20:36:12 GMT)
Valuable paintings stolen 31 years ago found in Bristol home
BRISTOL — Three valuable paintings stolen in a brazen 1976 armed robbery in Shrewsbury, Mass., are in the hands of the FBI, after they were surrendered by a Bristol man who received them from his brother, a Barrington art dealer, as collateral for a $22,000 loan six or seven years ago. (Fri, 22 Feb 2008 20:38:42 GMT)
Happy Greek co-owner, associate indicted in alleged mortgage fraud scam
The co-owner of Columbus' Happy Greek restaurant and an associate were indicted Friday on charges of being involved in an alleged mortgage fraud scheme. (Fri, 22 Feb 2008 21:10:37 GMT)
Federal Home Loan Bank of Indianapolis Announces Two New Board Members
INDIANAPOLIS, Feb. 22, 2008 -- On February 19, 2008, the Board of Directors of the Federal Home Loan Bank of Indianapolis elected Paul D. Borja, Executive Vice President and Chief Financial Officer of Flagstar Bank, Troy, Michigan, to fill the unexpired director term of Mark A. (Fri, 22 Feb 2008 21:29:14 GMT)
Kimball Hill home builder restructures debt to avoid possible bankruptcy
Facing possible bankruptcy, home builder Kimball Hill, Inc. amended agreements with its lenders on Thursday to return the company to compliance with loan covenants, according to a Securities and Exchange Commission filing. (Fri, 22 Feb 2008 21:53:08 GMT)
FDIC's Bair Calls For Better US Mortgage Market Rules
WASHINGTON -(Dow Jones)- The current problems in the mortgage and credit markets are ample evidence that more rules are needed to police the home mortgage market, Federal Deposit Insurance Corp. Chair Sheila Bair said Friday. (Fri, 22 Feb 2008 22:18:13 GMT)
Mortgage relief for service members
For military families with loved ones in the Middle East, the stress of making ends meet when one spouse is away is difficult enough without the extra burden of payment shock brought on by adjustable-rate-mortgage resets. But there could be some relief for these households if they ask for it. (Sat, 23 Feb 2008 00:02:54 GMT)
Last 125% mortgage offer is scrapped
The 125 per cent mortgage was rendered extinct yesterday as the final lender withdrew from the market. Birmingham Midshires, owned by the Halifax, became the sixth mortgage lender this week to stop offering loans worth more than the value of a property, amid increasing nervousness from banks and building societies about defaulters and the spectre of negative equity. (Sat, 23 Feb 2008 00:24:57 GMT)
With New Limits, New Reasons To Question Mortgage Costs
A seemingly arcane policy change by mortgage investor Freddie Mac sheds new light on issues of much broader concern for consumers: Do you really understand where the money flows -- all the nooks and crannies -- when you take out a mortgage and pay thousands of dollars in fees at settlement? (Sat, 23 Feb 2008 00:29:08 GMT)
Senate adopts toy-safety, mortgage reform measures
The Oregon Senate completed action on three toy-safety and mortgage lending reforms Friday, Feb. 22, as lawmakers tried to finish work and bring the special legislative session to a close. The Senate voted 27-7 to bar Oregon retailers from selling children’s toys subject to voluntary ... (Sat, 23 Feb 2008 01:26:08 GMT)
FSA vows crackdown on mortgage fraud
Mortgage fraudsters are facing a crackdown by the Financial Services Authority, whose head of financial crime warned yesterday that hundreds of cases were in its sights. (Sat, 23 Feb 2008 02:14:47 GMT)
Proposal to help home loan borrowers
The US could see the emergence of a market in negative equity certificates under a proposal floated by one of the country's regulators that is designed to help homeowners hit by tumbling prices in the housing market. (Sat, 23 Feb 2008 02:22:42 GMT)
New Bill Aimed At Fixing The Mortgage Mess
Some lawmakers said Florida’s once-booming real estate market could get even worse. That's why they're unveiling a bill to tighten control over the mortgage industry. (Sat, 23 Feb 2008 02:26:53 GMT)
Senate adopts toy-safety, mortgage reform measures
The Oregon Senate completed action on three toy-safety and mortgage lending reforms Friday, Feb. 22, as lawmakers tried to finish work and bring the special legislative session to a close. (Sat, 23 Feb 2008 02:45:28 GMT)
Mortgage Note Issues Help Debtors Avoid Foreclosure
Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002. That's when Washington Mutual Inc. first tried to foreclose on his home in Boca Raton. The Seattle-based lender failed to prove that it owned Lents' mortgage note and dropped attempts to take his house. Subsequent efforts to foreclose have stalled because no one has produced the paperwork. (Sat, 23 Feb 2008 05:20:09 GMT)
Books can clear up mortgage mysteries
1/83/8 A wide range of factors goes into securing a home mortgage, from selecting a mortgage type to landing a low interest rates and good payment terms. Several insightful books on the topic can help explain the ins and outs of mortgages for a prospective homebuyer. Here are just a few titles: "Mortgage Myths" by Ralph R. Roberts and Chip Cummings; Wiley ($17.95) (Sat, 23 Feb 2008 05:25:55 GMT)
GMAC loans $635M to its mortgage unit
GMAC LLC, the lender partially owned by General Motors Corp., agreed to loan as much as $750 million to its residential mortgage unit as it seeks to sell a business that finances vacation resorts. (Sat, 23 Feb 2008 06:27:41 GMT)
Refinancing house isn't best for everyone
Q: I have an adjustable-rate mortgage (ARM) 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? — Michael (Sat, 23 Feb 2008 06:41:31 GMT)
After dips, mortgage rates go back up
Rates on 30-year mortgages rose to the highest level in seven weeks, breaking above the 6 percent level. The Wisconsin Housing and Economic Development Authority (WHEDA) also boosted its mortgage rate this week for first-time home buyers. Freddie Mac, the mortgage company, reported that 30-year, fixed-rate mortgages averaged 6.04 percent this week, up from 5.72 percent last week. That is the ... (Sat, 23 Feb 2008 07:06:18 GMT)
GMAC to give ResCap up to $750-million loan
GMAC LLC, the lender part-owned by General Motors Corp., will prop up Residential Capital LLC with a loan of as much as $750 million while the mortgage unit tries to sell a financing business. (Sat, 23 Feb 2008 08:00:51 GMT)
City to reinstate mobile home repair loan plan
The Moorpark City Council unanimously voted Wednesday to reinstate a loan program that funds repairs on mobile homes in the city. (Sat, 23 Feb 2008 08:01:33 GMT)
Pair face 14 counts in mortgage-fraud case
After two indictments yesterday, Delaware County authorities said more people could be charged as part of a multimillion dollar mortgage-fraud ring. (Sat, 23 Feb 2008 08:43:57 GMT)
Mortgage rates jump; 30-year fixed 6.04%
Rates on 30-year mortgages rose to the highest level in seven weeks, breaking above the 6 percent level. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.04 percent this week, up from 5.72 percent last week. (Sat, 23 Feb 2008 10:04:01 GMT)
Subprime mortgage reform bill though the House
SALEM — A bill to make modest reforms to the subprime mortgage lending industry squeaked through the Oregon House Thursday, a big win for House Speaker Jeff Merkley who has made it clear that he intends to highlight the issue in his campaign for the U.S. Senate. (Sat, 23 Feb 2008 10:37:38 GMT)
Jumbo Mortgages
WASHINGTONAnna Galloway keeps a watchful eye on interest rates and stays in touch with her mortgage broker because she is eager to refinance the "jumbo" loan on her Charles County, Md., home. (Sat, 23 Feb 2008 11:27:31 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? (Sat, 23 Feb 2008 12:25:05 GMT)
Mount faces loan crisis
LENOX — The president of The Mount, the historic home of famed American novelist Edith Wharton, said that Berkshire Bank is threatening "imminent foreclosure" against the Plunkett Street tourist destination but has given the organization until March 24 to raise $3 million. (Sat, 23 Feb 2008 12:37:50 GMT)
Mortgage crisis hits wealthy east
IT started in the west, but the mortgage stress that has crippled thousands of families there has now hit Sydney's wealthy eastern suburbs. (Sat, 23 Feb 2008 13:00:00 GMT)
Mortgage crisis hits wealthy east
MORTGAGE stress is now crippling thousands of families in Sydney's wealthy eastern suburbs as interest rates pain worsens. (Sat, 23 Feb 2008 13:00:00 GMT)
The Wrong Questions About the Mortgage Market
Daniel H. Mudd, chief executive of Fannie Mae, knows the feeling a physician gets when she attends a party and a guest wants a diagnosis for a rash or some other unexplained ailment. (Sat, 23 Feb 2008 15:55:17 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? (Sat, 23 Feb 2008 17:10:04 GMT)
Mortgage brokers taking lumps as subprime market cracks
Posted: 10:52 AM- If image is everything, then Clark Harvey has a real problem. Harvey is a mortgage broker. It doesn't matter that he has been in the business more than a decade and has plenty of happy customers. (Sat, 23 Feb 2008 18:09:33 GMT)
You can refinance and take a bigger loan
I am staying in Rithala village, which is next to Rohini. I want to take a home loan against my agricultural land, which is situated in th Baghpat district of Uttar Pradesh. The covered area is 8 acres and the government circle rate is Rs 25 lakh. (Sat, 23 Feb 2008 20:52:59 GMT)
Home Mortgage: A good investment, but just be careful
We will continue the current series on debt management this week by taking a closer look at real estate debt, in particular the home mortgage. (Sat, 23 Feb 2008 23:27:07 GMT)
Where ?Mortgage? Isn?t a Scary Word
A confluence of economic circumstances is blamed for the dismal performance of mortgage REITs, but a handful of them is thriving as the economy falters. (Sat, 23 Feb 2008 23:29:49 GMT)
You save to secure the best mortgage rate, and then the lender shifts the goalposts
Mortgage lenders could be set to raise rates by the back door, making changes to lending conditions that will force borrowers to pay more for a new home loan. (Sun, 24 Feb 2008 00:27:18 GMT)
Boozer Leads Jazz Over Hawks, To 14th Straight Home Win
Carlos Boozer scored a team-high 21 points and had 12 rebounds, as the Utah Jazz picked up their 14th straight home win, 100-94, over the Atlanta Hawks. (Sun, 24 Feb 2008 05:03:58 GMT)
Impact of subprime mortgage crisis on American minorities is staggering
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, 24 Feb 2008 06:03:28 GMT)
Mortgage loan crisis may spill over into student 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. The credit crunch, which started with a panic over people missing home loan payments several months ago, has spread like a disease, infecting a broad range of loans. Now it may poison opportunities for college students to obtain some loans and is adding painfully high interest ... (Sun, 24 Feb 2008 07:06:08 GMT)
Get out from under your mortgage
Maybe you've heard the pitches about how rates are falling and you need to act NOW to take advantage of them. Or maybe you're dreading that pending jump in the rate on your adjustable-rate mortgage. Or maybe you feel you're sinking and aren't sure there's a way out. Whichever way, here's what you need to know about refinancing. (Sun, 24 Feb 2008 07:14:47 GMT)
Mortgage: Is it time for you to refinance?
Federal Reserve rate cuts are stirring up a flurry of phone calls to local mortgage brokers from homeowners looking to refinance. (Sun, 24 Feb 2008 07:15:47 GMT)
Low mortgage rates make refinancing more attractive
The past few months have been lonely ones for mortgage lenders, but business is picking up. The phones are ringing, and banks don't have to give away doughnuts to attract customers. They've got something much more enticing to offer: rock-bottom mortgage rates. (Sun, 24 Feb 2008 07:28:03 GMT)
Mortgage relief for service members
For military families with loved ones in the Middle East, the stress of making ends meet when one spouse is away is difficult enough without the extra burden of payment shock brought on by adjustable-rate-mortgage resets. But there could be some relief for these households if they ask for it. (Sun, 24 Feb 2008 08:08:13 GMT)
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