Mortgage News Mar 2008

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Mortgage crisis deepens: Rates on 1.5M home loans will reset this year
The mortgage crisis seems to have no end and no solution, but that isn't stopping Ben Bernanke from trying. (Wed, 05 Mar 2008 06:24:35 GMT)

Commercial Finance Advisors Closes $865,000 Daycare/Child Care Refinance
Commercial Finance Advisors, Inc. closes a $865,000 daycare/child care facility, commercial mortgage refinance. The daycare is located in Clinton Township, Michigan. Loan program was a commercial 30 year fixed. Property was built in two stages; 2000 and 2004, and consist of approximately 9,000 sq ft. (Wed, 05 Mar 2008 07:01:00 GMT)

Is loan pre-payment a good idea?
Home loan rates vary depending on your credit profile. The best way to get actual interest rate is to apply to several banks and get their interest rates after disclosing all your facts and figures. (Wed, 05 Mar 2008 07:02:23 GMT)

Commercial Finance Advisors Closes $865,000 Daycare/Child Care Refinance
Commercial Finance Advisors, Inc. closes a $865,000 daycare/child care facility, commercial mortgage refinance. The daycare is located in Clinton Township, Michigan. Loan program was a commercial 30 year fixed. Property was built in two stages; 2000 and 2004, and consist of approximately 9,000 sq ft. (PRWeb Mar 5, 2008) Read the full story at ... (Wed, 05 Mar 2008 08:32:25 GMT)

Refinance.com Announces New Higher Mortgage Loan Limits up to $729,750
Refinance.com, the nation's premier source for residential mortgage refinancing, has announced new higher mortgage loan limits up to $729,750 for a single family home, stated Nicholas Bratsafolis, chairman and CEO of Refinance.com. The company is taking the lead nationally in refinancing for homeowners by immediately adopting the new conforming and FHA loan limits and is accepting mortgage ... (Wed, 05 Mar 2008 08:39:58 GMT)

HSBC Home Loan Credit Insurance improved
Customers taking a Home Loan with HSBC Bank Malta will benefit from reduced rates when taking up a Home Loan Credit Insurance policy. The Home Loan Credit Insurance now benefits from a 35% reduction on original rates. This policy which protects the home loan repayment against accident, sickness and unemployment has now been enhanced to also offer a 24-month cover for the Accident and ... (Wed, 05 Mar 2008 08:43:25 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? (Wed, 05 Mar 2008 09:55:24 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Wed, 05 Mar 2008 09:55:34 GMT)

Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether mortgage applications declined for the fourth-straight week as interest rates rose and refinancing applications plummeted. (Wed, 05 Mar 2008 11:05:38 GMT)

Bernanke urges mortgage relief
WASHINGTON — Federal Reserve Chairman Ben Bernanke urged lenders to cut the amount of money they're owed by homeowners facing mortgage defaults. (Wed, 05 Mar 2008 11:51:13 GMT)

U.S. Mortgage applications rose last week: MBA
Applications for U.S. home mortgages rose for the first week in a month as falling interest rates increased incentives to refinance existing loans, according to data from an industry group on Wednesday. (Wed, 05 Mar 2008 12:03:11 GMT)

Bernanke calls for home-loan cuts
WASHINGTON -- Battling a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke called yesterday for additional relief and urged lenders to help distressed owners by lowering the amount of their loans. (Wed, 05 Mar 2008 12:13:01 GMT)

UPDATE: Mortgage Applications Rose 3.0% Last Week: MBA
CHICAGO (Dow Jones) -- The volume of applications filed for mortgages went up a seasonally adjusted 3.0% last week, coinciding with a big drop in interest rates charged on fixed-rate mortgages, according to the Mortgage Bankers Association's latest survey. (Wed, 05 Mar 2008 12:14:02 GMT)

Mortgage Application Volume Rises
Mortgage application volume increased 3 percent for the week ending Feb. 29, according to a weekly application survey by the trade group, Mortgage Bankers Association. (Wed, 05 Mar 2008 12:14:40 GMT)

Mortgage fraud 'is funding crime'
Organised criminals are increasingly turning to mortgage fraud to fund their activities, police warn. (Wed, 05 Mar 2008 12:22:49 GMT)

Mortgage applications rose 3.0% last week: MBA
The volume of applications filed for mortgages went up a seasonally adjusted 3.0% last week, coinciding with a big drop in interest rates charged on fixed-rate mortgages, according to the Mortgage Bankers Association's latest survey. Applications to refinance existing loans rose 4.5% for the week ended Feb. 29 compared with the previous week. (Wed, 05 Mar 2008 12:28:19 GMT)

U.S. mortgage applications rise
Last week marked first weekly rise in a month as falling interest rates increased incentives to refinance existing loans, industry group says (Wed, 05 Mar 2008 12:59:44 GMT)

Mortgage applications up slightly
MBA survey shows refinance and purchase volume increased in latest week as fixed-rate mortgage rates tumbled. (Wed, 05 Mar 2008 13:09:05 GMT)

Less Mortgage Exposure at WFC
It has not suffered as much from the current mortgage crisis as some of its peers due to its disciplined lending approach. (Wed, 05 Mar 2008 13:28:39 GMT)

SearchMyLoan.com Announces Alliance With Citizens Home Loan
PORT WASHINGTON, N.Y.----SearchMyLoan.com , a provider of loan search and pricing services for the mortgage industry, announced an alliance with Charlotte, N.C.-based Citizens Home Loan , a national lender that offers a suite of loan products including jumbo, Alt-A, prime and nontraditional. (Wed, 05 Mar 2008 14:00:00 GMT)

Mortgage applications up as rates plunge below 6%
Applications for home mortgages rose for the first week in a month as falling interest rates increased incentives to refinance existing loans, according to data from an industry group Wednesday. (Wed, 05 Mar 2008 15:25:03 GMT)

Spitzer draws up mortgage relief plan
Gov. Eliot Spitzer has drafted a proposal to offer protection to homeowners who may be at risk of losing their house due to the subprime mortgage crisis. (Wed, 05 Mar 2008 16:51:12 GMT)

Ryland settles with state on mortgage-lending allegations
The mortgage lending arm of Ryland Homes has run afoul of North Carolina regulators. (Wed, 05 Mar 2008 19:26:17 GMT)

Commercial Bank of Dubai challenges UAE home loan rates
The 23 mortgage lenders in the UAE have been slow to adjust to falling central bank discount rates, and profit margins on home loans have never been higher. (Wed, 05 Mar 2008 20:23:19 GMT)

How to Teflon-coat your mortgage
The strategy To Teflon coat my mortgage. Do I need to do that? Even if you've been coping well to date, the Reserve Bank's nasty trend of lifting interest rates should indicate it's time to stop, think and review your borrowings. How would you cope with another rate rise? Another two? (Wed, 05 Mar 2008 20:32:32 GMT)

New FHA mortgage limits in California give Santa Clara, 13 other counties maximum $729,750
WASHINGTON - The government today raised the mortgage limits for loans guaranteed by the Federal Housing Administration in 14 high-cost California counties. (Wed, 05 Mar 2008 20:34:53 GMT)

Bush and Fed Step Toward a Mortgage Rescue
The Bush administration and the Federal Reserve are inching closer toward a government rescue of distressed homeowners and mortgage lenders. (Wed, 05 Mar 2008 20:39:25 GMT)

Merrill Lynch Discontinues First Franklin Mortgage Origination; Will Explore Sale of Home Loan Services
Merrill Lynch (NYSE: MER) said today that it is discontinuing mortgage origination at its First Franklin subsidiary in the United States and will explore the sale of Home Loan Services, a mortgage loan servicing unit for First Franklin. (Wed, 05 Mar 2008 21:37:39 GMT)

California gets first crack at new FHA mortgage limits
The government on Wednesday raised the mortgage limits for loans guaranteed by the Federal Housing Administration in 14 high-cost California counties, including seven in the Bay Area. The Department of Housing and Urban Development released the new loan... (Wed, 05 Mar 2008 22:57:18 GMT)

New FHA Mortgage Limits in California Give 14 Counties Maximum $729,750, More States to Follow
Marcy Gordon March 5, 2008 - 5:51 p.m. WASHINGTON (AP) - The government on Wednesday raised the mortgage limits for loans guaranteed by the Federal Housing Administration in 14 high-cost California counties. (Wed, 05 Mar 2008 23:11:29 GMT)

California gets first crack at new FHA mortgage limits
The government on Wednesday raised the mortgage limits for loans guaranteed by the Federal Housing Administration in 14 high-cost California counties, including seven in the Bay Area. The Department of Housing and Urban Development released the new loan... (Wed, 05 Mar 2008 23:12:02 GMT)

Thornburg Mortgage defaults on financing agreements
Thornburg Mortgage Inc. said late Wednesday that it's defaulted on several financing agreements, sparking a plunge in the mortgage lender's shares. (Wed, 05 Mar 2008 23:58:22 GMT)

Bush and Fed Step Toward a Mortgage Rescue
The Bush administration and the Federal Reserve are inching closer toward a government rescue of distressed homeowners and mortgage lenders. (Thu, 06 Mar 2008 02:38:51 GMT)

Mortgage clinics may prevent foreclosure
MURRIETA -- Homeowners who can't bear to look at the mortgage bills piling up on their kitchen counters soon will have a resource they can't afford not to look at. (Thu, 06 Mar 2008 03:49:27 GMT)

Judge Lectures Countrywide but Decides Not to Punish It in Texas Mortgage Case
HOUSTON (Bloomberg News) The Countrywide Financial Corporation, the largest American mortgage lender, did not show ?bad faith? in the handling of a Texas homeowner?s mortgage and will not be sanctioned for mere unprofessional and unethical conduct, a federal judge ruled on Wednesday. (Thu, 06 Mar 2008 03:57:59 GMT)

Mortgage Fallout Having Little Impact On Austin's Economy
While Texas is feeling a few effects of the sub-prime mortgage fallout when it comes to financing homes and projects, it is having less of an impact on Austin's dynamic economy. (Thu, 06 Mar 2008 04:26:37 GMT)

NAB raises home loan rates to 9.27pc
NATIONAL Australia Bank (NAB) has raised its variable home loan rate by 0.29 per cent to 9.27 per cent, making it the first big bank to raise rates since the official interest rate hike on Tuesday. (Thu, 06 Mar 2008 04:34:00 GMT)

NAB raises home loan rates to 9.27pc
NATIONAL Australia Bank (NAB) has raised its variable home loan rate by 0.29 per cent to 9.27 per cent, making it the first big bank to raise rates since the official interest rate hike on Tuesday. (Thu, 06 Mar 2008 04:34:00 GMT)

NAB raises home loan rates to 9.27pc
NATIONAL Australia Bank (NAB) has raised its variable home loan rate by 0.29 per cent to 9.27 per cent, making it the first big bank to raise rates since the official interest rate hike on Tuesday. (Thu, 06 Mar 2008 04:34:00 GMT)

Judge Lectures Countrywide but Decides Not to Punish It in Texas Mortgage Case
HOUSTON — The Countrywide Financial Corporation, the largest American mortgage lender, did not show “bad faith” in the handling of a Texas homeowner’s mortgage and will not be sanctioned merely for unprofessional and unethical conduct, a federal judge ruled on Wednesday. (Thu, 06 Mar 2008 04:40:19 GMT)

Indictment names 4 in mortgage fraud case
A federal grand jury in Houston has indicted four people in connection with a $15 million mortgage fraud scheme carried out over four years, the U.S. Attorney's Office said Wednesday. (Thu, 06 Mar 2008 06:50:54 GMT)

HUD raises mortgage limits
The government on Wednesday raised the mortgage limits for loans guaranteed by the Federal Housing Administration in Los Angeles, Ventura and a dozen other high-cost California counties. (Thu, 06 Mar 2008 07:08:13 GMT)

Home loan rates to fall further?
FM has asked RBI and bankers to take a call on reducing home loan rates on popular demand. (Thu, 06 Mar 2008 07:31:48 GMT)

FHA home loan limits raised $100k
The federal government has temporarily raised the loan limit on its increasingly popular FHA loan by $100,000, giving more Fresno County families the opportunity to buy or refinance a house. (Thu, 06 Mar 2008 08:01:04 GMT)

Direct Mortgage Pro Reassures Buyers as Interest Rates Continue to Rise
Direct Mortgage Pro, an online network that brings lenders together with buyers, is reassuring consumers that good home loans are available despite rising interest rates. (PRWeb Mar 6, 2008) Read the full story at http://www.prweb.com/releases/2008/03/prweb743564.htm (Thu, 06 Mar 2008 08:20:58 GMT)

PBOC Gov: Safe To Develop Mortgage-Backed Securities
BEIJING -(Dow Jones)- China's central bank governor said Thursday it's safe to develop a domestic mortgage-backed securities market as the country hasn't been hit by a subprime crisis like the one that struck the U.S. (Thu, 06 Mar 2008 08:25:29 GMT)

California gets first crack at new FHA mortgage limits
The government on Wednesday raised the mortgage limits for loans guaranteed by the Federal Housing Administration in 14 high-cost California counties, including seven in the Bay Area. The Department of Housing and Urban Development released the new loan... (Thu, 06 Mar 2008 08:40:01 GMT)

Judge Lectures Countrywide but Decides Not to Punish It in Texas Mortgage Case
HOUSTON — The Countrywide Financial Corporation, the largest American mortgage lender, did not show “bad faith” in the handling of a Texas homeowner’s mortgage and will not be sanctioned merely for unprofessional and unethical conduct, a federal judge ruled on Wednesday. (Thu, 06 Mar 2008 08:41:01 GMT)

Mortgage applications up
Mortgage applications in the United States increased 3 percent last week from a two-month low. The Mortgage Bankers Association's index of applications to refinance climbed 4.5 percent, while the purchase index was up 1.4 percent. (Thu, 06 Mar 2008 10:09:29 GMT)

How to Teflon-coat your mortgage
The strategy To Teflon coat my mortgage. Do I need to do that? Even if you've been coping well to date, the Reserve Bank's nasty trend of lifting interest rates should indicate it's time to stop, think and review your borrowings. How would you cope with another rate rise? Another two? (Thu, 06 Mar 2008 10:54:31 GMT)

Govt recognises public demand for lower home loan rates
The government on Thursday acknowledged that there is public demand that interest rates on home loans up to Rs 20 lakh should be slashed, but said it is for the banks and RBI to take a call. (Thu, 06 Mar 2008 10:57:17 GMT)

Mortgage rate drop this week -- or do they?
The benchmark 30-year fixed-rate mortgage fell 9 basis points, to 6.32 percent, according to the Bankrate.com national survey of large lenders. (Thu, 06 Mar 2008 11:00:00 GMT)

Sixty U.K. Lawyers Investigated for Mortgage Fraud (Update1)
March 6 (Bloomberg) -- The Solicitors Regulation Authority , the legal regulator in England and Wales, is investigating as many as 60 lawyers for alleged mortgage fraud after complaints more than tripled in three years. (Thu, 06 Mar 2008 11:11:32 GMT)

Bankrate: A Topsy-Turvy Week for Mortgage Rates
Fixed mortgage rates posted a slight decrease in a wild up-and-down week, with the average conforming 30- year fixed mortgage rate now 6.32 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.39 discount and origination points. (Thu, 06 Mar 2008 12:30:00 GMT)

Asian markets advance on hopes that US will ease home loan crisis
Asian markets advanced Thursday, lifted by modest gains overnight on Wall Street and on hopes the U.S. government will ease the home loan crisis by moving ahead with a plan to buy troubled mortgages. (Thu, 06 Mar 2008 12:36:00 GMT)

Futures slip after mortgage lender defaults
U.S. stock futures dipped on Thursday as the financial sector was hit by yet another blow with news of a default at Thornburg Mortgage Inc , but stronger-than-expected sales at Wal-Mart Stores Inc could offset losses. (Thu, 06 Mar 2008 12:46:59 GMT)

UPDATE: Thornburg Mortgage Defaults On Financing Agreements
SAN FRANCISCO (Dow Jones) -- Thornburg Mortgage Inc. said late Wednesday that it's defaulted on several financing agreements, sparking a plunge in the mortgage lender's shares. (Thu, 06 Mar 2008 12:52:21 GMT)

Asian markets advance on hopes that US will ease home loan crisis
The Associated Press March 6, 2008 - 8:24 a.m. BANGKOK, Thailand - Asian markets advanced Thursday, lifted by modest gains overnight on Wall Street and on hopes the U.S. government will ease the home loan crisis by moving ahead with a plan to buy troubled mortgages. (Thu, 06 Mar 2008 13:41:17 GMT)

U.S. mortgage foreclosures reach record high
U.S home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the fourth quarter led by failing subprime loans, the Mortgage Bankers Association said on Thursday. (Thu, 06 Mar 2008 15:32:22 GMT)

Mortgage rates down on weak economy
After a series of gloomy readings on the economy, mortgage rates fell this week in the slumping housing market, erasing last week's jump, Freddie Mac reported Thursday. (Thu, 06 Mar 2008 16:09:06 GMT)

U.S. benchmark 30-year mortgage falls back near 6%
CHICAGO (MarketWatch) -- The benchmark mortgage fell back near 6% this week, reversing a big jump over the previous two weeks, says Freddie Mac. (Thu, 06 Mar 2008 16:13:28 GMT)

Mortgage REITs plunge on Carlyle Capital troubles
Shares of mortgage real estate investment trusts plunged on Thursday after Carlyle Capital Corp Ltd , a European firm that invests in mortgage-backed securities, failed to meet margin calls and received a notice of default. (Thu, 06 Mar 2008 16:17:44 GMT)

Mortgage delinquencies and foreclosures
Mortgage delinquencies and foreclosures, fourth quarter 2007 (Thu, 06 Mar 2008 17:39:42 GMT)

U.S. Mortgage Foreclosures Rise as Owners `Give Up' (Update3)
March 6 (Bloomberg) -- U.S. mortgage foreclosures rose to an all-time high at the end of 2007 as borrowers with adjustable-rate loans walked away from properties before their payments increased, the Mortgage Bankers Association said today. (Thu, 06 Mar 2008 17:59:42 GMT)

US home foreclosures at new high: survey
US home foreclosures rose to new highs in the fourth quarter of 2007 as loan delinquencies jumped to a 22-year high, the Mortgage Bankers Association reported Thursday. (Thu, 06 Mar 2008 18:28:29 GMT)

FM pitches for lower home loan rates
New Delhi, Mar 6: Making a strong case for a cut in interest rates on home loans of up to Rs 20 lakh, Finance Minister P Chidambaram on Thursday said he would continue to talk to bankers as these accounts, which form a lion's share of total borrowing for housing, carry less risk weightage. (Thu, 06 Mar 2008 18:41:56 GMT)

Mortgage rates drop
Mortgage rates sank this week, reflecting investors' worries about the country's economic health. (Thu, 06 Mar 2008 18:58:56 GMT)

Mortgage Rates Drop
Mortgage rates sank this week, reflecting investors' worries about the country's economic health. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed rate mortgages averaged 6.03 percent for the week ending March 6. (Thu, 06 Mar 2008 18:58:56 GMT)

Top tips: Refinancing your mortgage
1: Rates are low (Thu, 06 Mar 2008 19:19:00 GMT)

Wall St slides on mortgage fallout
U.S. stocks tumbled on Thursday, pushing Wall Street close to January lows, as investors sold-off financial shares on news of a default at a high-profile mortgage lender. (Thu, 06 Mar 2008 19:26:06 GMT)

Time to refinance?
Interest rates on 30-year mortgages are down and mortgage applications are up. Is it time to refinance? (Thu, 06 Mar 2008 19:39:15 GMT)

Mortgage rates drop
Associated Press - March 6, 2008 3:03 PM ET WASHINGTON (AP) - Worries about the economy sent mortgage rates skidding this week. Freddie Mac says the average for the 30-year fixed... (Thu, 06 Mar 2008 20:02:19 GMT)

What Mortgage Mess?
The big firms skewered themselves on fancy mortgage derivatives. Joe Moglia's TD Ameritrade sticks to stocks and bonds. (Thu, 06 Mar 2008 20:13:04 GMT)

Mortgage rates drop
WASHINGTON (AP) - Worries about the economy sent mortgage rates skidding this week. Freddie Mac says the average for the 30-year fixed dropped to 6.03% for the week from last week's 6.24%, which had been the highest in more than three months. (Thu, 06 Mar 2008 20:14:26 GMT)

Federal Home Loan Bank in Pittsburgh names new chief risk officer
The Federal Home Loan Bank of Pittsburgh has appointed a new chief risk officer. (Thu, 06 Mar 2008 20:24:06 GMT)

Again, FM asks banks to cut home loan rates
Chidambaram, who just presented a Budget that has been dubbed populist with an eye on elections, made a strong case for a cut in interest rate on home loans up to Rs 20 lakh. (Thu, 06 Mar 2008 20:28:46 GMT)

Chidambarm advocates lower home loan rates
NEW DELHI, March 6 : The Union Finance Minister P Chidambaram has confessed that there was a public demand for lowering of interest rates on home loans up to Rs 20 lakh. He, however, said that it was for the banks and RBI to take a decision on the issue. (Thu, 06 Mar 2008 20:39:29 GMT)

Judge Lectures Countrywide but Decides Not to Punish It in Texas Mortgage Case
HOUSTON — The Countrywide Financial Corporation, the largest American mortgage lender, did not show “bad faith” in the handling of a Texas homeowner’s mortgage and will not be sanctioned merely for unprofessional and unethical conduct, a federal judge ruled on Wednesday. (Thu, 06 Mar 2008 20:39:59 GMT)

S&P Cuts WaMu Credit Rating, Citing Mortgage Losses
SEATTLE -- Standard & Poor's has cut Washington Mutual's credit rating. The service says the mortgage crisis is worse than it predicted at the start of the year. (Thu, 06 Mar 2008 21:46:37 GMT)

Citigroup overhauls mortgage business, aims to cut risk
Citigroup on Thursday said it aims to cut its home loan exposure by $45 billion, reduce risk and save $200 million a year in an overhaul of its U.S. residential mortgage business. (Thu, 06 Mar 2008 21:56:51 GMT)

Higher conforming mortgage limits released; do you qualify?
Seventy-one urban areas and 21 rural counties may get some relief from the mortgage credit crunch due to a temporary increase in conforming loan limits announced Thursday by the Office of Federal Housing Enterprise Oversight. (Thu, 06 Mar 2008 22:13:47 GMT)

Citigroup to overhaul troubled US mortgage business
US financial giant Citigroup announced a radical overhaul of its troubled US mortgage business Thursday aimed at stemming multibillion dollars losses triggered by America's housing slump. (Thu, 06 Mar 2008 22:35:56 GMT)

Mortgage-Backed REITs Roiled by Carlyle Move
Shares of American mortgage real estate investment trusts plunged after Carlyle Capital failed to meet margin calls and received a notice of default. (Thu, 06 Mar 2008 22:41:27 GMT)

Mortgage Rates Drop
WASHINGTON -- Mortgage rates sank this week, reflecting investors' worries about the country's economic health. (Thu, 06 Mar 2008 23:09:20 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, 06 Mar 2008 23:55:36 GMT)

Peralta Advocates For Mortgage Bill Of Rights
(Annmarie Fertoli) Mortgage loan consultant Robert Donoso, left, joins Assemblyman Jose Peralta at a press conference to introduce legislation to create a mortgage bill of rights. (Fri, 07 Mar 2008 04:20:42 GMT)

Judge Lectures Countrywide but Decides Not to Punish It in Texas Mortgage Case
HOUSTON — The Countrywide Financial Corporation, the largest American mortgage lender, did not show “bad faith” in the handling of a Texas homeowner’s mortgage and will not be sanctioned merely for unprofessional and unethical conduct, a federal judge ruled on Wednesday. (Fri, 07 Mar 2008 04:40:29 GMT)

KELO News Poll: Mortgage Mess
KELO News Poll: Mortgage Mess (Fri, 07 Mar 2008 05:32:49 GMT)

Westpac lifts variable home loan rates
Westpac Banking Group has lifted its variable home loan rates by 30 percentage points, and by more than the rise in official rates this week. (Fri, 07 Mar 2008 05:59:11 GMT)

Westpac lifts variable home loan rates
Westpac Banking Group has lifted its variable home loan rates by 30 percentage points, and by more than the rise in official rates this week. (Fri, 07 Mar 2008 05:59:11 GMT)

Westpac lifts variable home loan rates
Westpac Banking Group has lifted its variable home loan rates by 30 percentage points, and by more than the rise in official rates this week. (Fri, 07 Mar 2008 05:59:11 GMT)

Westpac lifts home loan rates by 0.30pc
WESTPAC Banking Group has lifted its variable home loan rates by 30 percentage points, which is more than the rise in official rates this week. (Fri, 07 Mar 2008 06:09:00 GMT)

Westpac lifts home loan rates 0.30pc
WESTPAC has lifted its variable home loan rates by 30 percentage points, which is more than the rise in official rates this week. (Fri, 07 Mar 2008 06:09:00 GMT)

Westpac lifts home loan rates by 0.30pc
WESTPAC Banking Group has lifted its variable home loan rates by 30 percentage points, which is more than the rise in official rates this week. (Fri, 07 Mar 2008 06:09:00 GMT)

Westpac lifts home loan rates by 0.30pc
WESTPAC Banking Group has lifted its variable home loan rates by 30 percentage points, which is more than the rise in official rates this week. (Fri, 07 Mar 2008 06:09:00 GMT)

Westpac lifts variable home loan rates
Westpac Banking Group Ltd has lifted its variable home loan rates by 30 percentage points, and by more than the rise in official rates this week. The bank also warned it would make further adjustments to interest rates if conditions in global credit markets don't improve. (Fri, 07 Mar 2008 06:10:14 GMT)

PC pushes for cheaper home loan
New Delhi, March 6: Finance minister P. Chidambaram today made a pitch for cutting the interest rate on home loans up to Rs 20 lakh. (Fri, 07 Mar 2008 09:29:55 GMT)

Mortgage foreclosure rate hits record high
The proportion of all home mortgages nationwide that fell into foreclosure shot up to a record high of 0.83 percent in the fourth quarter, the Mortgage Bankers Association said Thursday. That surpassed the previous high of 0.78 percent set in the prior quarter. (Fri, 07 Mar 2008 10:11:49 GMT)

Home loan rates down
Mortgage rates sank this week, with Freddie Mac, the mortgage company, reporting 30-year fixed rate mortgages averaged 6.03 percent, down 0. 21 percent from last week. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, dropped 0.25 percent to 5.47 percent. (Fri, 07 Mar 2008 10:11:59 GMT)

Sports authority scrambles to avoid mortgage-crisis fallout
More than $380 million in New Jersey Sports and Exposition Authority bonds may be restructured in an effort to avoid rising interest rates caused by aftershocks of the subprime mortgage crisis. (Fri, 07 Mar 2008 10:27:56 GMT)

Writing off private mortgage insurance
If you got a PMI policy in connection with your mortgage in 2007, you might be able to deduct the payments. (Fri, 07 Mar 2008 11:00:00 GMT)

Ahead of the Bell: Mortgage Exec Hearing
Top banking executives whose companies are still reeling from the mortgage crisis will come to Capitol Hill on Friday to testify about the payouts they received. (Fri, 07 Mar 2008 11:14:34 GMT)

Despite talk of mortgage crisis fixes, banks not eager to lend
WASHINGTON -- Fevered talk in the capital of possible government fixes for the mortgage crisis belies an inconvenient truth of the credit market: banks simply are not eager to lend money. (Fri, 07 Mar 2008 11:30:42 GMT)

UCO Bank likely to cut home loan rate by 50 bps
The decision will be finalised when the bank reviews home loan rates on March 15. (Fri, 07 Mar 2008 11:36:24 GMT)

Mortgage rates decline again
WASHINGTON -- Mortgage rates sank this week, reflecting investors' worries about the country's economic health. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed rate mortgages averaged 6. (Fri, 07 Mar 2008 11:39:21 GMT)

Mortgage crisis slices into equity
OAKLEY -- Juan Medina, who spent 30 years working at U.S. Steel in Pittsburg, has no equity on his house here and an adjustable-rate mortgage for which the interest-only payment has gone up to $5,500 a month. (Fri, 07 Mar 2008 11:39:31 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, 07 Mar 2008 11:51:15 GMT)

Moody's Downgrades Thornburg Mortgage
Credit rating agency Moody's Investors Service on Thursday evening downgraded mortgage lender and real estate investment trust Thornburg Mortgage Inc. because of multiple defaults on financing agreements. (Fri, 07 Mar 2008 12:46:28 GMT)

Thornburg Mortgage's rating cut
Mortgage lender's senior unsecured rating slashed by Moody's Investors Service following defaults. (Fri, 07 Mar 2008 13:24:05 GMT)

Top tips: Refinancing your mortgage
1: Rates are low (Fri, 07 Mar 2008 14:57:00 GMT)

Mortgage mess CEOs defend pay
A trio of high-profile CEOs defended their oversized pay packages to Congress on Friday, even as their companies and shareholders lost billions of dollars as a result of the ongoing mortgage crisis. (Fri, 07 Mar 2008 15:24:15 GMT)

Mortgage Company Heads Grilled By Congress
Lawmakers grilled three corporate executives as they questioned how the CEOs managed to take home hundreds of millions of dollars in compensation while their companies were taking a financial nosedive due to the subprime mortgage crisis. (Fri, 07 Mar 2008 17:00:04 GMT)

Amid Mortgage Mess, CEOs Defend Pay
The heads of three companies implicated in the mortgage crisis have been asked to explain how they made millions while their companies were losing money. (Fri, 07 Mar 2008 17:11:14 GMT)

Who Are the Villains in the Mortgage Mess?
Three CEOs behind mortgage mess testify to Congress about pay packages. (Fri, 07 Mar 2008 17:22:36 GMT)

Carlyle Group Scorched by Mortgage Fund's Blowup (Update3)
March 7 (Bloomberg) -- The collapse of the subprime- mortgage market has engulfed Carlyle Group, the world's second- biggest leveraged-buyout firm by assets. (Fri, 07 Mar 2008 17:33:20 GMT)

U.S. Mortgage Market Needs $1 Trillion, Friedman Billings Says
March 7 (Bloomberg) -- The $11 trillion U.S. home-mortgage market needs about $1 trillion in new investment to halt a slide in prices that began last year, according to analysts at Friedman, Billings, Ramsey & Co. (Fri, 07 Mar 2008 18:59:32 GMT)

Thornburg Mortgage future in doubt
Mortgage lender says it cannot cover $610 million in margin calls. SANTA FE, N.M. (AP) -- Thornburg Mortgage Inc. said Friday it does not have enough cash to cover current margin calls and it will restate past financial results to account for a decline in the value of its mortgage securities. (Fri, 07 Mar 2008 19:24:25 GMT)

U.S. Congress summons executives over their pay deals during mortgage crisis.
Three prominent financial executives were summoned before the U.S. Congress on Friday to face questions about the huge paydays that they earned from the subprime mortgage boom, even as their companies have lost billions of dollars and thousands of borrowers have lost their homes. (Fri, 07 Mar 2008 19:50:40 GMT)

Thornburg Mortgage Says Its Survival Is in Doubt
Thornburg, the second-largest independent mortgage lender in the United States, said that it was unable to meet $610 million of margin calls. (Fri, 07 Mar 2008 20:04:13 GMT)

Mortgage-REIT sell-off overplays liquidity risks: analysts
The sharp sell-off in mortgage real-estate investment trusts this week triggered by a spate of margin calls is overblown, analysts said as the Federal Reserve moved Friday to inject more liquidity into the global banking sector. (Fri, 07 Mar 2008 21:13:48 GMT)

HDFC says no, UCO says yes to home loan interest rate cut
A day after finance minister P Chidambaram pitched for lower interest rates on home loans up to Rs 20 lakhs... (Fri, 07 Mar 2008 21:19:07 GMT)

U.S. Mortgage Market Needs $1 Trillion, Analysts Say (Update2)
March 7 (Bloomberg) -- The $11 trillion U.S. home-mortgage market needs about $1 trillion in new investment to halt a slide in prices that began last year, according to analysts at Friedman, Billings, Ramsey & Co. (Fri, 07 Mar 2008 21:44:32 GMT)

Carlyle Group Disrupted by Mortgage Fund's Blowup (Update4)
March 7 (Bloomberg) -- The collapse of the subprime- mortgage market has disrupted Carlyle Group, the world's second- biggest leveraged-buyout firm by assets. (Fri, 07 Mar 2008 21:48:20 GMT)

York Co. woman faces possible jail time for failing to refinance, sell home
Refinance, sell your home, or go to jail. Those are the options facing Tiphney DelPrado, who is now engaged in a bitter, nasty divorce with her husband of 20 years, David DelPrado. David has since remarried and moved to California. (Sat, 08 Mar 2008 00:29:16 GMT)

York Co. woman faces possible jail time for failing to refinance, sell home
Refinance, sell your home, or go to jail. Those are the options facing Tiphney DelPrado, who is now engaged in a nasty divorce from her husband of 20 years. Tiphney claims she's having trouble selling her home due to current market conditions. (Sat, 08 Mar 2008 02:08:38 GMT)

Burns: Tax benefit unlikely for mortgage interest payments
Scott Burns advises paying off a mortgage as soon as possible, rather than try to wrangle tax benefits from mortgage interest payments. (Sat, 08 Mar 2008 06:46:23 GMT)

Federal mortgage move is good news for Marin housing market
There is a ray of light for home buyers in Marin County after the federal government this week increased the amount of mortgage money that Fannie Mae and Freddie (Sat, 08 Mar 2008 07:56:04 GMT)

Corporate executives seem to have 'hit the lottery' when their companies racked up losses in the subprime mortgage mess.
front art Suffering what one congressman called a ''public flogging,'' corporate executives on Friday defended receiving millions of dollars in compensation while their companies lost billions of dollars in the subprime mortgage debacle. (Sat, 08 Mar 2008 08:14:55 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sat, 08 Mar 2008 09:24:10 GMT)

Mortgage executives defend compensation
WASHINGTON - Three corporate executives yesterday defended the millions of dollars in pay they received despite contributing to the subprime mortgage crisis that left their companies reeling from losses and the country in or near a recession. (Sat, 08 Mar 2008 09:33:20 GMT)

Mortgage rates drop
WASHINGTON (AP) — Mortgage rates sank this week, reflecting investors' worries about the country's economic health. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed rate mortgages averaged 6.03 percent for the week ending... (Sat, 08 Mar 2008 11:06:27 GMT)

How to Teflon-coat your mortgage
The strategy To Teflon coat my mortgage. Do I need to do that? Even if you've been coping well to date, the Reserve Bank's nasty trend of lifting interest rates should indicate it's time to stop, think and review your borrowings. How would you cope with another rate rise? Another two? (Sat, 08 Mar 2008 11:15:11 GMT)

Mortgage company execs defend high salaries
WASHINGTON — Three corporate executives called in for a shaming by Democratic lawmakers Friday defended raking in hundreds of millions of dollars despite contributing to the subprime mortgage crisis that has their companies reeling from losses and the nation on the edge of recession. (Sat, 08 Mar 2008 12:36:13 GMT)

A Reverse Mortgage Mess?
With $4 trillion of home equity wrapped up in the houses of America's senior citizens, it's no coincidence that the market for reverse-mortgage loans is finally taking off. (Sat, 08 Mar 2008 12:40:59 GMT)

W. Pa. mortgage employee pleads guilty in scam
A former mortgage loan officer pleaded guilty to her role in a scheme that defrauded lenders up to $1 million, prosecutors said. (Sat, 08 Mar 2008 13:06:36 GMT)

A mortgage of convenience
Energy-saving upgrades figure into initial loan balance For first-time home buyers Joshua and Latoya Washington, the mid-February arrival of their high-efficiency furnace was a cause for celebration—sweet reward for pursuing an energy-efficient mortgage. (Sat, 08 Mar 2008 14:53:08 GMT)

Mortgage Rates Change In the Blink of an Eye
In the words of more than one mortgage broker, fluctuating interest rates on traditional fixed-rate home loans have been "crazy" this week. (Sat, 08 Mar 2008 17:16:21 GMT)

How to Teflon-coat your mortgage
The strategy To Teflon coat my mortgage. Do I need to do that? Even if you've been coping well to date, the Reserve Bank's nasty trend of lifting interest rates should indicate it's time to stop, think and review your borrowings. How would you cope with another rate rise? Another two? (Sat, 08 Mar 2008 18:11:37 GMT)

Reverse mortgage: retirement made easier
Last year's Budget brought a new scheme into India-the reverse mortgage scheme. While this new wonder has been looked at with much suspicion and scepticism, giving it another look may prove beneficial in many ways. (Sat, 08 Mar 2008 21:29:00 GMT)

The Case for a Housing Rescue
Problems that began in the U.S. mortgage markets have led to the most serious international economic crisis since the late 1990s. Huge losses and concern about credit quality have spread far beyond the housing sector. America faces the prospect of a sharp recession, made all the likelier by the probable default of several million additional mortgages in the coming year and the resulting ... (Sat, 08 Mar 2008 22:40:21 GMT)

Feeling More Heat to Address the Mortgage Meltdown
Pressure is building on the White House to make a more aggressive plan to relieve the mortgage crisis. (Sun, 09 Mar 2008 00:16:41 GMT)

FBI begins inquiry into mortgage firm
The FBI begins an inquiry into the largest US mortgage lender, Countrywide Financial, for suspected securities fraud, reports say. (Sun, 09 Mar 2008 02:54:12 GMT)

FBI begins inquiry into mortgage firm
The FBI has begun a criminal inquiry into the largest US mortgage lender, Countrywide Financial Corp, for suspected securities fraud as part of investigations into the mortgage crisis, The New York Times reports in Sunday's editions. (Sun, 09 Mar 2008 03:10:24 GMT)

Peralta Advocates For Mortgage Bill Of Rights
(Annmarie Fertoli) Mortgage loan consultant Robert Donoso, left, joins Assemblyman Jose Peralta at a press conference to introduce legislation to create a mortgage bill of rights. (Sun, 09 Mar 2008 04:19:06 GMT)

Peralta Advocates For Mortgage Bill Of Rights
(Annmarie Fertoli) Mortgage loan consultant Robert Donoso, left, joins Assemblyman Jose Peralta at a press conference to introduce legislation to create a mortgage bill of rights. (Sun, 09 Mar 2008 04:19:06 GMT)

Peralta Advocates For Mortgage Bill Of Rights
(Annmarie Fertoli) Mortgage loan consultant Robert Donoso, left, joins Assemblyman Jose Peralta at a press conference to introduce legislation to create a mortgage bill of rights. (Sun, 09 Mar 2008 04:19:06 GMT)

Peralta Advocates For Mortgage Bill Of Rights
(Annmarie Fertoli) Mortgage loan consultant Robert Donoso, left, joins Assemblyman Jose Peralta at a press conference to introduce legislation to create a mortgage bill of rights. (Sun, 09 Mar 2008 04:19:06 GMT)

Peralta Advocates For Mortgage Bill Of Rights
(Annmarie Fertoli) Mortgage loan consultant Robert Donoso, left, joins Assemblyman Jose Peralta at a press conference to introduce legislation to create a mortgage bill of rights. (Sun, 09 Mar 2008 04:19:06 GMT)

How to Teflon-coat your mortgage
The strategy To Teflon coat my mortgage. Do I need to do that? Even if you've been coping well to date, the Reserve Bank's nasty trend of lifting interest rates should indicate it's time to stop, think and review your borrowings. How would you cope with another rate rise? Another two? (Sun, 09 Mar 2008 04:27:47 GMT)

Home-equity lenders less likely to OK refinancing
In the latest sign of how the credit crunch is hurting even borrowers with good credit, some home-equity lenders are starting to slam the door on homeowners who want to refinance their primary mortgages. (Sun, 09 Mar 2008 05:13:28 GMT)

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