Mortgage News Mar 2008

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Countrywide under federal criminal inquiry in mortgage crisis
WASHINGTON – Federal authorities have opened a criminal inquiry into Countrywide Financial for suspected securities fraud as part of the continuing fallout over the mortgage crisis, government officials with knowledge of the case said Saturday. (Sun, 09 Mar 2008 05:21:24 GMT)

Sweeping changes in mortgage lending qualification continue into '08
Foreclos-ures are up. Home prices are down. How bad is the current housing crisis? Can you even get a loan in today's mortgage market? Should you be worried about your own credit situation? (Sun, 09 Mar 2008 05:54:16 GMT)

Free eBook Reveals Construction Loan Trade Secrets that Can Save New Home Owners-Builders Thousands
A construction loan industry veteran with decades of experience has published a free e-book entitled "15 Things You Should Know before You Even Think about Applying for a Construction Loan." The insightful report reveals construction loan inside secrets that can help people save thousands of dollars. (Sun, 09 Mar 2008 07:01:00 GMT)

Free eBook Reveals Construction Loan Trade Secrets that Can Save New Home Owners-Builders Thousands
A construction loan industry veteran with decades of experience has published a free e-book entitled "15 Things You Should Know before You Even Think about Applying for a Construction Loan." The insightful report reveals construction loan inside secrets that can help people save thousands of dollars. (PRWeb Mar 9, 2008) Read the full story at ... (Sun, 09 Mar 2008 08:12:40 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, 09 Mar 2008 08:23:09 GMT)

Will tax break on mortgage help filer?
If I buy a home, how much will the mortgage-interest tax break help me? (Sun, 09 Mar 2008 10:01:07 GMT)

Some jumbo mortgages can cause big trouble
Daniel H. Mudd knows the feeling when a physician attends a party and a guest wants a diagnosis for some ailment. In Mudd's case, people often they ask him if it's a good time to refinance their mortgage. (Sun, 09 Mar 2008 10:01:50 GMT)

KENNETH HARNEY: Mortgage fees get broader disclosure
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 is flowing when you take out a mortgage and pay thousands of dollars in fees at settlement? (Sun, 09 Mar 2008 10:15:55 GMT)

Mortgage fraud is complex and easy to disguise
Q: I read your recent column on mortgage fraud. I find it hard to believe that the complicated process of obtaining a new mortgage would be so lax that fraud could occur. How is this possible? (Sun, 09 Mar 2008 10:23:15 GMT)

Not many takers for FM's call for lower home loan rates
Finance Minister P Chidambaram's pitch for a differential and lower rates for home loans below Rs 20 lakh has found few takers among public sector banks. (Sun, 09 Mar 2008 11:00:56 GMT)

Managing rate hikes a juggling act
SPIRALLING household debts are driving a boom in mortgage refinancing. Refinanced mortgages now make up about one third of all mortgages sold in Australia. (Sun, 09 Mar 2008 13:00:00 GMT)

CBA hiked home loan rates
COMMONWEALTH Bank of Australia has hiked its standard variable home loan rate by 35 basis points ? 10 points higher than last week's official cash rate rise. (Sun, 09 Mar 2008 13:00:00 GMT)

Australia's Home-Loan Approvals Probably Rose 1% in January
March 10 (Bloomberg) -- Australia's home-loan approvals probably rose in January, suggesting higher interest rates and turmoil on financial markets have failed to discourage borrowers. (Sun, 09 Mar 2008 13:40:47 GMT)

Reports: Feds target Countrywide mortgage lender
The FBI is in the early stages of an inquiry into whether officials misrepresented the quality of the company's mortgage loans, a report said. The Justice Department also reportedly is investigating. (Sun, 09 Mar 2008 14:15:23 GMT)

Tech-based firm helps rout mortgage fraud
It's the equivalent of a body cavity search, but for home loans. The 1003 AppScan, an automated Web-based filter, subjects mortgage applications to more than 150 tests designed to extract both little white lies and criminal schemes used to defraud lenders. (Sun, 09 Mar 2008 14:24:39 GMT)

Jammer's Mortgage Maze: “Hey, What's Your Rate?”
"Hey, what's your rate?" That's the first question I get when people realize I'm a mortgage loan officer. For a minute let's forget “The mortgage implosion of 2007” (I will tell you who and what caused it in an upcoming column). (Sun, 09 Mar 2008 18:59:16 GMT)

RE/MAX CEO blames Wall Street for mortgage crisis
DENVER - The CEO of RE/MAX International says Wall Street is the primary culprit behind the country's mortgage crisis because "they made the money available." (Sun, 09 Mar 2008 20:16:31 GMT)

Kidney kingpin paid home loan amount for Feb
He may be on the run, but kidney transplant racket kingpin Dr Amit Kumar has not defaulted for the February loan payment for the mansion he bought in Canada last year for his family. (Sun, 09 Mar 2008 21:26:44 GMT)

CEOs probed on US mortgage crisis
THE heads of three companies implicated in the US mortgage crisis have been asked to explain how they collectively received hundreds of millions of dollars in compensation while their companies were losing money. (Mon, 10 Mar 2008 00:50:05 GMT)

The Role Of Race In The Mortgage Mess
A Federal Reserve study found that 55 percent of blacks and 17 percent of whites were steered to sub prime mortgages, even when they qualified for lower interest rates. Randall Pinkston reports. (Mon, 10 Mar 2008 01:01:38 GMT)

The Role Of Race In The Mortgage Mess
Just six months after buying his home in New York City, CBS News correspondent Randall Pinkston reports, Michael Wiggins fell behind on his payments. (Mon, 10 Mar 2008 01:07:14 GMT)

The Role Of Race In The Mortgage Mess
Just six months after buying his home in New York City, CBS News correspondent Randall Pinkston reports, Michael Wiggins fell behind on his payments. (Mon, 10 Mar 2008 01:07:36 GMT)

CUA winds back mortgage activities
Australia's largest mutual, Credit Union Australia, is winding back its mortgage origination activities from brokers due to higher funding costs. (Mon, 10 Mar 2008 02:15:11 GMT)

Name to blame as Australia mortgage firm abused
SYDNEY, March 10 - An Australian mortgage firm has received threatening phone calls, abuse and even a letter containing a white powder in recent weeks -- all because its name is similar to a much bigger troubled finance company. (Mon, 10 Mar 2008 02:26:25 GMT)

Name to blame over mortgage hate-mail
A MORTGAGE firm has received threatening phone calls, abuse and even a letter containing a white powder in recent weeks ? all because its name is similar to a much bigger troubled finance company. (Mon, 10 Mar 2008 02:54:00 GMT)

Mortgage lenders see more borrowers give up
On the front lines in the mortgage foreclosure crisis, lender and loan servicer Dennis Lauria says his deepest losses are from borrowers who owe more than their homes are worth and simply mail in the keys, rather than try to work out a new payment plan. (Mon, 10 Mar 2008 03:06:38 GMT)

Mortgage situation worsens in state: Foreclosures are still on the rise, though still below average
Six months ago, it looked like New Hampshire was faring better than most states in the mortgage-industry meltdown. That's what experts were saying, and the numbers seemed to back it up. ... - By ASHLEY SMITH and DAVID BROOKS Telegraph Staff (Mon, 10 Mar 2008 04:31:55 GMT)

Commonwealth Bank to up variable home loan rates
SYDNEY, March 10 - Commonwealth Bank of Australia Ltd , Australia's biggest mortgage lender, said on Monday it would raise its variable home loan rate by 35 basis points. (Mon, 10 Mar 2008 04:43:00 GMT)

Commonwealth Bank to up variable home loan rates
SYDNEY, March 10 - Commonwealth Bank of Australia Ltd , Australia's biggest mortgage lender, said on Monday it would raise its variable home loan rate by 35 basis points. (Mon, 10 Mar 2008 04:43:00 GMT)

Triad sites stable despite mortgage insurers' losses
The losses being tallied by the three major private-mortgage insurers based in the Triad are mounting quickly in the face of a worsening nationwide housing crisis, but local operations so far have been unaffected, according to company officials. (Mon, 10 Mar 2008 04:43:38 GMT)

Defunct mortgage bank accused of diverting funds
In the 30 days before Maverick Residential Mortgage closed its doors for good, the Plano-based lender twice took money intended to fund a series of loans and used it to cover its payroll and other expenses, according to a lawsuit. (Mon, 10 Mar 2008 04:55:16 GMT)

CBA ups home loan rate by 35 points
THE Commonwealth Bank of Australia has hiked its variable home loan rate by 35 basis points - 10 points higher than last week's official cash rate rise. (Mon, 10 Mar 2008 05:12:00 GMT)

Commonwealth Bank to up variable home loan rates
SYDNEY, March 10 (Reuters) - Commonwealth Bank of Australia Ltd CBA.AX, Australia's top mortgage lender, said on Monday it would raise its variable home loan rate by 35 basis points, above the increase in official interest rates by the central bank last week. (Mon, 10 Mar 2008 05:23:14 GMT)

House committee questions high compensation for CEOs involved in mortgage crisis
Lawmakers confronted corporate executives Friday about how they managed to take home hundreds of millions of dollars in compensation while their companies were taking a financial nosedive from the subprime mortgage crisis. (Mon, 10 Mar 2008 06:10:45 GMT)

Embezzlement inquiry may top $200,000
Waukesha - With kids and a mortgage, Andy and Jamie Wilson faced mounting financial problems. (Mon, 10 Mar 2008 07:27:20 GMT)

Appeal to mortgage firms on debts
A housing charity urges more contact between mortgage firms and lenders to avert home repossession. (Mon, 10 Mar 2008 07:46:20 GMT)

Piggyback loan
A combination home loan designed to avoid mortgage insurance, for borrowers who make down payments of less than 20 percent. (Mon, 10 Mar 2008 09:08:06 GMT)

FSA bans mortgage introducer for first time
The FSA has banned mortgage introducer Andrew Talai Kiplimo from carrying out any financial services activity requiring authorisation by the FSA. ... (Mon, 10 Mar 2008 11:04:11 GMT)

FBI Investigates Countrywide Mortgage
The FBI has launched an investigation into the lending practices of Countrywide. According to the Wall Street Journal, The home lender is suspected of widespreas fraud, which may have contributed to the subprime mortgage crisis across the country. (Mon, 10 Mar 2008 11:18:32 GMT)

Mass. AG Alleges Mortgage Fraud
Boston - Massachusetts Attorney General Martha Coakley’s Office filed a lawsuit against Lehi Mortgage Services, a Quincy-based mortgage broker, alleging they fraudulently procured mortgage loans. (Mon, 10 Mar 2008 12:04:25 GMT)

• Miami Gardens Seminar Explains Mortgage Options For Troubled Homeowners
Frustrated homeowners packed a Keep Your Home seminar organized by County Commissioner Barbara Jordan to discuss possible solutions to the mortgage crisis. (Mon, 10 Mar 2008 12:09:06 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. (Mon, 10 Mar 2008 12:33:59 GMT)

Ahead of the Bell: Thornburg Mortgage
An analyst downgraded Thornburg Mortgage Inc. Monday, less than a week after a lender issued a default notice to the mortgager and real estate investment trust. (Mon, 10 Mar 2008 12:49:00 GMT)

Wachovia Asks What We Have Learned About Mortgage Markets And Capital Markets
(RTTNews) - John Silvia, chief economist from Wachovia, asked on Monday, "What have we learned about the mortgage market and capital markets in general?" (Mon, 10 Mar 2008 12:56:48 GMT)

TD Canada Trust offering up to $50,000 on 7% mortgage
TD Canada Trust announced today that it is offering homebuyers up to $50,000 cash back on a 7% CashBack Mortgage. Between now and June 30, home buyers can get 7% of their mortgage back in cash, to a maximum of $50,000, when they sign up for a seven year fixed rate term. (Mon, 10 Mar 2008 14:34:37 GMT)

Broker saw February mortgage pick-up
Independent mortgage broker IFG Mortgages says its February figures show a significant increase from January. It says its figures indicates that there was a 33% rise in the value of mortgages taken out in February compared with the previous month. (Mon, 10 Mar 2008 14:56:54 GMT)

Mortgage fraudster banned by FSA
A mortgage fraudster has been banned by the main City regulator, the FSA. (Mon, 10 Mar 2008 14:57:01 GMT)

Home equity falls below 50% for first time on record
Home equity for the average American has dropped below 50% for the first time since World War II, reflecting a widespread decline in home values and relatively loose mortgage practices during much of this decade. (Mon, 10 Mar 2008 15:21:40 GMT)

Mortgage Marvel Goes Hyperlocal; Provides Instant Rate and Fee Quotes -- and Shows Lenders' Branch Locations
The hyperlocal Internet is here, and Mortgage Marvel (www.MortgageMarvel.com) is being uniquely enhanced to ensure that more online mortgage shoppers benefit from its advantages. (Mon, 10 Mar 2008 15:23:52 GMT)

BAA Edges Its Way Out Of Debt
Ferrovial sells World Duty Free for $1.1 billion as it attempts to refinance airport operator's debts. (Mon, 10 Mar 2008 15:56:41 GMT)

Blue Chip sales could cause local credit crunch
The role of bankers and valuers in the $70 million Blue Chip debacle is being questioned, as distressed investors prepare to take big losses on their properties in New Zealand's own version of the sub-prime mortgage meltdown. (Mon, 10 Mar 2008 16:45:14 GMT)

Anworth Mortgage Asset Corporation Schedules Conference Call to Announce Quarterly Earnings
Anworth Mortgage Asset Corporation (NYSE:ANH) announced today that it will release results for the fourth quarter of 2007 on Wednesday, March 12, 2008. (Mon, 10 Mar 2008 16:53:19 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Mon, 10 Mar 2008 17:25:51 GMT)

Senate Staffer: Sen Dodd May Submit New Housing Bill This Week
WASHINGTON -(Dow Jones)- Sen. Christopher Dodd, D-Conn., could announce later this week legislation creating a corporation to purchase mortgage-backed securities in order to help troubled homeowners refinance their mortgage loans. (Mon, 10 Mar 2008 18:13:07 GMT)

Dodd May Submit New Housing Bill
Sen. Christopher Dodd could announce later this week new legislation that would create a corporation to help troubled homeowners refinance their home loans, a staffer said Monday. (Mon, 10 Mar 2008 19:26:45 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? (Mon, 10 Mar 2008 19:35:58 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Mon, 10 Mar 2008 19:36:08 GMT)

Elk Grove Web site links homeowners to mortgage advice
The city of Elk Grove has established a series of Web links for residents who need help dealing with mortgage companies or managing mortgage payments. (Mon, 10 Mar 2008 20:39:28 GMT)

Espstein wouldn't mortgage farm
Espstein wouldn't mortgage farm for Johan (Mon, 10 Mar 2008 22:56:22 GMT)

The wisdom of paying down your mortgage early
Q: I'll be 59 years old in August. I make $100,000-plus today, but who knows about tomorrow? In the past three years, I have been making my mortgage payments plus paying additional on the principal. Doing that, I have saved nearly 17 years of interest payments at 6 percent. (Mon, 10 Mar 2008 23:47:10 GMT)

Mortgage meltdown trickling to education funding?
The mortgage meltdown we're experiencing has economists wondering how it's going to affect other areas. (Mon, 10 Mar 2008 23:54:59 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? (Tue, 11 Mar 2008 00:04:23 GMT)

February ends on bright note for mortgage lenders
WASHINGTON – The number of residential mortgage applications filed nationwide edged up in the final days of February, ending a three-week decline, according to the Mortgage Bankers Association’s weekly report. (Tue, 11 Mar 2008 00:10:54 GMT)

Home loan approvals rise
Australia’s home loan approvals rose in January, suggesting higher interest rates and turmoil on financial markets have so far failed to discourage borrowers. (Tue, 11 Mar 2008 01:11:04 GMT)

Australian Home-Loan Approvals Rise 2.3% on Jobs Boom (Update1)
March 11 (Bloomberg) -- Australia's home-loan approvals rose than economists estimated in January, suggesting higher interest rates and turmoil on financial markets have failed to discourage borrowers. (Tue, 11 Mar 2008 01:11:05 GMT)

Capstead Mortgage Corporation Declares a $0.52 First Quarter 2008 Common Dividend
Capstead Mortgage Corporation (NYSE: CMO) announced today that it will pay a first quarter 2008 dividend of 52 cents per common share payable on April 21, 2008 to stockholders of record as of March 31, 2008. Commenting on the ... (Tue, 11 Mar 2008 01:36:59 GMT)

BNZ lifts mortgage rates
The BNZ has today lifted fixed-term mortgage interest rates. The bank increased its two year standard fixed mortgage rate to 9.69 per cent. The increased rates had come as a response to an increased cost in funding, a bank spokesperson said. (Tue, 11 Mar 2008 01:57:31 GMT)

Australian home loan approvals jump 2.3% in Jan
The number of home loans issued in January grew a stronger-than-expected 2.3%m/m (JPMorgan and consensus 1.0%) after rising a revised 0.4% in December (previously 1.0%). From the surge in housing finance approvals, it appears that investors rushed in to secure loans amid widespread speculation that the RBA would hike interest rates in February. (Tue, 11 Mar 2008 02:15:43 GMT)

Australia Home-Loan Approvals Rise 2.3% on Investment (Update2)
March 11 (Bloomberg) -- Australia's home-loan approvals rose more than economists forecast in January as investors switched to property after the nation's stock market slumped the most in 20 years. (Tue, 11 Mar 2008 02:41:00 GMT)

Defaulted on home loan EMI? Here's help
It is important to know that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act empower the bank to take possession of the property that is mortgaged to them, to recover the loan outstanding from the borrower. (Tue, 11 Mar 2008 03:47:18 GMT)

Pittsburgh offers home foreclosure help
Homeowners in seven Pittsburgh neighborhoods have the highest mortgage foreclosure rates in the city, ranging as high as one for each 140 households, figures released Monday show. (Tue, 11 Mar 2008 04:01:18 GMT)

Australian housing finance jumps in January
HONG KONG (MarketWatch) -- Australian home financing approvals rose unexpectedly in January, bolstered by refinance activity and an investor return to bricks and mortar amid a downbeat performance in the equity markets. (Tue, 11 Mar 2008 04:58:18 GMT)

Australia Home-Loan Approvals Rise 2.3% on Investment (Update3)
March 11 (Bloomberg) -- Australia's home-loan approvals rose more than economists forecast in January as investors switched to property after the nation's stock market slumped the most in 20 years. (Tue, 11 Mar 2008 05:56:17 GMT)

St George hikes home loan rate by 35 bps
ST GEORGE Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. (Tue, 11 Mar 2008 06:07:00 GMT)

St George hikes home loan rate by 35 bps
ST GEORGE Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. (Tue, 11 Mar 2008 06:07:00 GMT)

St George hikes home loan rate by 0.35%
St George Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. From Thursday, its standard variable rate will increase to 9.37 per cent. (Tue, 11 Mar 2008 06:10:14 GMT)

Kirk wants to resurrect mortgage aid program
U.S. Rep. Mark Kirk Monday announced two legislative proposals he hopes will allay fears about home ownership and health coverage in a slowing economy. (Tue, 11 Mar 2008 06:18:29 GMT)

'Jenny' rouses Delawareans from sleep
An undetermined number of people in Delaware -- and possibly elsewhere -- were roused from slumber over the weekend by the recorded mortgage-refinancing marketing call, causing momentary panic over loved ones' safety, an untold number of afternoon... (Tue, 11 Mar 2008 07:58:17 GMT)

Emirates NBD showcases its mortgage products at Interntional Property Show 2008
Emirates NBD, the holding company of Emirates Bank and National Bank of Dubai, participated recently in the International Property Show 2008 and showcased its wide range of mortgage products to the focused audience at the show. (Tue, 11 Mar 2008 08:08:29 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, 11 Mar 2008 08:23:19 GMT)

Many more going bankrupt
Bankruptcy filings have surged 22 percent in Massachusetts this year, as more people are unable to afford their rising mortgage payments or refinance their homes to pay bills, according to court filings and bankruptcy attorneys. (Tue, 11 Mar 2008 08:29:46 GMT)

Mortgage caps won’t help most troubled markets
If you are buying or refinancing a U.S. home with an above-average price tag, you may be able to breathe easier and secure a guaranteed mortgage. (Tue, 11 Mar 2008 08:33:40 GMT)

Wachovia Profits Drop Due To Mortgage Losses
CHARLOTTE, N.C. -- Wachovia Corp. chief executive officer Ken Thompson made $15.65 million in compensation in 2007, a nearly 15 percent decline from the previous year's level as profits slumped at the nation's fourth-largest bank due to mortgage-related losses, according to a regulatory filing made Monday. (Tue, 11 Mar 2008 09:03:44 GMT)

What Mortgage Mess?
The big firms skewered themselves on fancy mortgage derivatives. Joe Moglia's TD Ameritrade sticks to stocks and bonds. (Tue, 11 Mar 2008 10:02:52 GMT)

Mortgage Crisis Seen As Factor Behind Surge In Bankruptcy Filings
BOSTON (AP) -- The number of Massachusetts residents filing for bankruptcy continues to grow, with experts tying the surge to the subprime mortgage crisis. (Tue, 11 Mar 2008 10:58:54 GMT)

Mortgage Crisis Seen As Factor Behind Surge In Bankruptcies
The number of Massachusetts residents filing for bankruptcy continues to grow, with experts tying the surge to the subprime mortgage crisis. (Tue, 11 Mar 2008 11:01:02 GMT)

MFA Mortgage Cuts Leverage, Sets 1Q View
MFA Mortgage Investments Inc. said it will sell assets to reduce its debt-to-equity levels, or leverage, amid continued stress in the financial industry. (Tue, 11 Mar 2008 11:51:31 GMT)

Thornburg Mortgage Files Amended Form 10-K/A to Reflect Restated Financial Statements
Thornburg Mortgage, Inc. (NYSE:TMA) filed its Amended Annual Report on Form 10-K/A with the U.S. Securities and Exchange Commission today. (Tue, 11 Mar 2008 11:52:38 GMT)

Expert: Justin Harelik
Dear Bankruptcy Adviser, I am currently in Chapter 13 and would like to refinance my mortgage. I have $70,000 in equity and would like to cash out about $10,000. Is that possible, and if so, with whom? (Tue, 11 Mar 2008 12:00:56 GMT)

Capstead Mortgage Declares Dividend
Capstead Mortgage Corp., a real estate investment trust, said Tuesday its board of directors approved a quarterly dividend of 52 cents per share. (Tue, 11 Mar 2008 12:06:03 GMT)

MFA Mortgage to sell assets
Mortgage real estate investment trust also forecasts earnings that fall short of Wall Street's view. (Tue, 11 Mar 2008 12:24:15 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. (Tue, 11 Mar 2008 12:48:53 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. (Tue, 11 Mar 2008 12:48:53 GMT)

Mortgage mess becomes prime territory for law firms
The collapse of the subprime-mortgage market has turned into a legal free-for-all not seen in the financial-services industry since the savings-and-loan crisis. (Tue, 11 Mar 2008 13:08:19 GMT)

Fed to Lend $200 Billion, Take on Mortgage Securities (Update2)
March 11 (Bloomberg) -- The Federal Reserve plans to lend up to $200 billion of Treasury securities in exchange for debt including private mortgage-backed securities that have slumped in value as homeowners defaulted on their payments. (Tue, 11 Mar 2008 13:44:32 GMT)

Out of the Gate: Mortgage Banks Jump
Shares of mortgage banks spiked Tuesday morning after the Federal Reserve moved to boost liquidity and ease the credit crisis by making up to $200 billion in cash available to cash-strapped financial institutions. (Tue, 11 Mar 2008 13:47:39 GMT)

Fed to Lend $200 Billion, Take on Mortgage Securities (Update3)
March 11 (Bloomberg) -- The Federal Reserve, struggling to contain a crisis of confidence in credit markets, plans to lend up to $200 billion in exchange for mortgage-backed securities. (Tue, 11 Mar 2008 14:48:41 GMT)

Mortgage approvals hit nine-year low
Gloom about the housing market deepened today as monthly mortgage approvals hit a nine-year low. (Tue, 11 Mar 2008 15:56:00 GMT)

St George hikes home loan rate by 0.35%
St George Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. From Thursday, its standard variable rate will increase to 9.37 per cent. (Tue, 11 Mar 2008 17:14:48 GMT)

She Called the Mortgage Mess
T. Rowe Price's "duchess of doom" sees more trouble ahead in the bond market. (Tue, 11 Mar 2008 17:28:28 GMT)

The Race is On to Refinance
Now is a great time to convert your adjustable-rate loan to a fixed-rate mortgage. (Tue, 11 Mar 2008 17:28:35 GMT)

Foreclosure forum scheduled in Hyannis
HYANNIS - A forum on avoiding mortgage foreclosure will be held at the Barnstable Senior Center March 26 and is open to anyone concerned about the issue, according to the office of U.S. Rep. William Delahunt, D-Mass. (Tue, 11 Mar 2008 17:48:04 GMT)

A Plea For Mortgage Forgiveness
As Federal Reserve Chairman Ben Bernanke makes pleas for lenders to show mortgage forgiveness to help cope with national housing woes, Northwest Montana Association of Realtors (NMAR) President Cal Scott makes a similar plea here in the Flathead. Caught up in a prolonged period of subprime mortgage practices, fluctuations in interest rates and house prices, and worries over predatory lending, a ... (Tue, 11 Mar 2008 17:51:26 GMT)

Fed to Lend $200 Billion, Take on Mortgage Securities (Update7)
March 11 (Bloomberg) -- The Federal Reserve, struggling to contain a crisis of confidence in credit markets, will for the first time lend Treasuries in exchange for debt that includes mortgage-backed securities. (Tue, 11 Mar 2008 19:44:47 GMT)

Asia Day Ahead: Fed to Take on Mortgage-Backed Debt (Update1)
March 12 (Bloomberg) -- U.S. stocks rallied the most in five years after the Federal Reserve said it will pump $200 billion into the financial system to shore up banks battered by mortgage-related losses. (Tue, 11 Mar 2008 21:10:45 GMT)

McKenzie Schools to Refinance Bonds
Tom McAnulty with Stephens, Inc. speaks with Jon Davis, MSSD board member about the refinancing of school bonds. MCKENZIE (March 4) – McKenzie Special School Board of Education voted unanimously to refinance its $8.5 million in bonded indebtedness. (Tue, 11 Mar 2008 21:33:12 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, 11 Mar 2008 21:44:54 GMT)

NJ Latest to Target Mortgage Woes
New Jersey lawmakers are moving to cut mortgage foreclosures by imposing a six-month moratorium on subprime loan defaults, creating a new loan fund to help people stay in their homes and allowing some who lose homes to stay in them for a time. (Tue, 11 Mar 2008 21:50:01 GMT)

Fed's Loan Rescue Sparks Big Stock Rally
Staring at spreading financial dangers, the Federal Reserve announced a rescue package Tuesday that would pour as much as $200 billion into banks and investment houses and allow them to put up risky home-loan packages as collateral. Wall Street... (Tue, 11 Mar 2008 22:12:22 GMT)

Fed to Lend $200 Billion, Accept Mortgage Securities (Update10)
March 11 (Bloomberg) -- The Federal Reserve, struggling to contain a crisis of confidence in credit markets, will for the first time lend Treasuries in exchange for debt that includes mortgage-backed securities. (Tue, 11 Mar 2008 23:14:40 GMT)

Fed's loan rescue sparks big stock rally
Staring at spreading financial dangers, the Federal Reserve announced a rescue package Tuesday that would pour as much as $200 billion into banks and investment houses and allow them to put up risky home-loan packages as collateral. (Tue, 11 Mar 2008 23:56:39 GMT)

Mortgage Clinic: How long in a new job before I can gat a mortgage?
'I'm returning to Wales after spending some years abroad in Chile. Obviously, I'll need to get a job before I can secure a mortgage, but must I work for six months to prove that I can support repayments? Or could I get the money straight away? I have a deposit of £15,000 and I'm hoping to find a home for about £90,000' Jamie Borley, Santiago, via email (Wed, 12 Mar 2008 00:26:16 GMT)

St George hikes home loan rate by 0.35%
St George Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. From Thursday, its standard variable rate will increase to 9.37 per cent. (Wed, 12 Mar 2008 00:26:46 GMT)

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have so far done little to ease a crisis in markets that began with fears over exposure to U.S. mortgage lending but has since spread to almost every other area of finance. (Wed, 12 Mar 2008 01:06:43 GMT)

Bernanke Seeks to Avert Deeper Slump by Accepting Mortgage Debt
March 12 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke 's latest attempt to alleviate seized-up credit markets marks his most direct effort yet to repair the mortgage meltdown that poses the biggest threat to the economy. (Wed, 12 Mar 2008 04:29:36 GMT)

St George hikes home loan rate by 0.35%
St George Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. From Thursday, its standard variable rate will increase to 9.37 per cent. (Wed, 12 Mar 2008 05:07:42 GMT)

Mortgage Industry Gets Sound Drubbing
The mortgage industry continued to get knocked around this week, absorbing a flurry of punches on both the national and local fronts.Fir.... (Wed, 12 Mar 2008 05:14:43 GMT)

Senate moves to OK debated home equity loan
The Maryland Senate gave preliminary approval yesterday to a bill that would allow state-chartered banks to continue to offer a type of home equity loan the state's highest court previously ruled was in violation of consumer protection laws. (Wed, 12 Mar 2008 07:43:50 GMT)

Senate approves mortgage reform package
A package of bills designed to end the kinds of predatory and dubious lending practices that have accelerated the mortgage meltdown in Pennsylvania and throughout the nation passed the state Senate on Tuesday. (Wed, 12 Mar 2008 08:01:45 GMT)

Mortgage application fees may rise on appraisal reform
It's going to cost some borrowers even more to get a mortgage beginning in 2009. (Wed, 12 Mar 2008 08:24:05 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 12 Mar 2008 08:24:14 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. (Wed, 12 Mar 2008 08:50:16 GMT)

FHA offers shot in the ARM
Lewis and Patricia Gonzales despaired of ever refinancing their adjustable-rate mortgage before its payments became unmanageable. (Wed, 12 Mar 2008 09:01:59 GMT)

Deducting mortgage interest on an RV
Even moveable homes, like RVs and boats, can take the mortgage interest tax deduction if they qualify, says CPA George Saenz. (Wed, 12 Mar 2008 10:00:00 GMT)

Caixa Economica Seeks Eased Mortgage Bond Rules (Update1)
March 11 (Bloomberg) -- Caixa Economica Federal, Brazil's largest lender for housing, wants the government to allow mortgage-backed debt to be accounted for along with residential loans in a government ratio intended to boost homeownership. (Wed, 12 Mar 2008 10:01:32 GMT)

St. Louis to help residents in mortgage crisis
The city of St. Louis is joining with several agencies to help residents who struggle to make mortgage payments. (Wed, 12 Mar 2008 10:09:51 GMT)

Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether mortgage applications rose for the second-straight week as borrowers took advantage of lower rates. (Wed, 12 Mar 2008 10:16:23 GMT)

Mortgage Clinic: How long in a new job before I can get a mortgage?
'I'm returning to Wales after spending some years abroad in Chile. Obviously, I'll need to get a job before I can secure a mortgage, but must I work for six months to prove that I can support repayments? Or could I get the money straight away? I have a deposit of £15,000 and I'm hoping to find a home for about £90,000' Jamie Borley, Santiago, via email (Wed, 12 Mar 2008 10:52:20 GMT)

Home loan demand drops as rates near 5-month high
U.S. mortgage applications dipped last week, reflecting lower demand for home loan refinancing as interest rates surged to their highest since October, an industry group said on Wednesday. (Wed, 12 Mar 2008 11:07:31 GMT)

Mortgage applications fell 1.9% last week, MBA data show
Mortgage applications filings last week dropped a seasonally adjusted 1.9% compared with the week before as interest rates rose sharply, the Mortgage Bankers Association said Wednesday. Applications to refinance an existing mortgage were down 4.7% during the week ended March 7, while applications for loans to purchase homes were up 1.6% on a week-to-week basis, according to the MBA's latest ... (Wed, 12 Mar 2008 11:13:31 GMT)

Senate moves to OK debated home equity loan
The Maryland Senate gave preliminary approval yesterday to a bill that would allow state-chartered banks to continue to offer a type of home equity loan the state's highest court previously ruled was in violation of consumer protection laws. (Wed, 12 Mar 2008 11:27:38 GMT)

US MBA mortgage applications decline 1.9% in March the 7th week
FXstreet.com (Barcelona) – According to the Mortgage Bankers association, the volume of applications for mortgage loans has decreased 1.9% in the week of March the 7th. (Wed, 12 Mar 2008 11:31:56 GMT)

Mortgage Application Volume Falls
Mortgage application volume fell 1.9 percent during the week ending March 7, according to the trade group Mortgage Bankers Association's weekly application survey released Wednesday. (Wed, 12 Mar 2008 11:35:01 GMT)

U.S. equity loan failures are rising
Delinquency rates on home equity loans at major U.S. banks might double in 2008, The Wall Street Journal reported Wednesday.The losses aren't expected to reach the $150 billion in subprime mortgage delinquencies banks have suffered since August 2007. But, equity loan delinquencies accounted for 12.5 percent of all delinquent loans at Bank of America Corp. in the fourth quarter of 2007, up from ... (Wed, 12 Mar 2008 11:40:32 GMT)

Fed pours $200 billion into loan industries
WASHINGTON — Staring at spreading financial dangers, the Federal Reserve announced a rescue package yesterday that pours as much as $200 billion into banks and investment houses and allows them to put up risky home-loan packages as collateral. (Wed, 12 Mar 2008 11:57:15 GMT)

UPDATE: Mortgage Applications Fell 1.9% Last Week, MBA Data Show
CHICAGO (Dow Jones) -- Mortgage applications filings last week dropped a seasonally adjusted 1.9% compared with the week before as interest rates rose sharply, the Mortgage Bankers Association said Wednesday. (Wed, 12 Mar 2008 11:59:36 GMT)

Mortgage applications fall, MBA says
Volume dropped 1.9% in the week ending March 7, with refinance accounting for half of total applications, according to trade group survey. (Wed, 12 Mar 2008 12:09:15 GMT)

U.S. MBA's Mortgage Applications Index Fell 1.9% Last Week
March 12 (Bloomberg) -- Mortgage applications in the U.S. declined last week as a jump in borrowing costs pushed refinancing down to the lowest level of the year. (Wed, 12 Mar 2008 12:14:44 GMT)

Home loan demand tumbles down due to highest interest rates
U.S. mortgage applications slumped last week, reflecting lower demand for home loan refinancing as interest rates advanced to their highest since October. (Wed, 12 Mar 2008 12:33:43 GMT)

Why it's not too late to refinance
Earlier this year, when mortgage rates dipped below 6% for the first time since 2005, homeowners rushed to refinance costlier loans. In fact, more than six out of 10 mortgage applications so far this year have been for refis. (Wed, 12 Mar 2008 13:40:05 GMT)

Government to refinance loan to Northern Rock
The government will refinance part of the loans the Bank of England had made to Northern Rock bank by issuing government debt, leading to a record amount of planned gilt sales for the fiscal year starting in April. (Wed, 12 Mar 2008 14:42:00 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Wed, 12 Mar 2008 17:35:59 GMT)

Thornburg Mortgage rises again
Reports of its death greatly exaggerated, Santa Fe's Thornburg Mortgage saw its stock shoot up Wednesday after an analyst upgrade. (TMA) (Wed, 12 Mar 2008 18:34:17 GMT)

With rates highest since October, mortgage demand drops
Mortgage applications dipped last week, reflecting lower demand for home loan refinancing as interest rates surged to their highest since October, an industry group said Wednesday. (Wed, 12 Mar 2008 18:53:22 GMT)

St George hikes home loan rate by 0.35%
St George Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. From Thursday, its standard variable rate will increase to 9.37 per cent. (Wed, 12 Mar 2008 19:25:15 GMT)

St George hikes home loan rate by 0.35%
St George Bank, Australia's fifth largest bank, has lifted its home loan rates by 35 basis points. From Thursday, its standard variable rate will increase to 9.37 per cent. (Wed, 12 Mar 2008 22:38:14 GMT)

Foreclosures hurt neighbors’ refinance efforts
If your neighbors have lost their homes, you could pay the price when you try to sell or refinance — even if your credit is good. (Wed, 12 Mar 2008 23:41:40 GMT)

Policy makers to propose mortgage rules revamp: report
NEW YORK - U.S. policy makers, led by Treasury Secretary Henry Paulson, are due to recommend a revamp of rules related to credit markets and mortgage brokers, the Wall Street Journal reported on Wednesday. (Thu, 13 Mar 2008 03:23:51 GMT)

Policy makers to propose mortgage rules revamp: report
U.S. policy makers, led by Treasury Secretary Henry Paulson, will recommend a revamp of rules on credit markets and mortgage brokers, to help avoid a repeat of the recent credit crunch, the Wall Street Journal reported on Wednesday. (Thu, 13 Mar 2008 04:08:43 GMT)

Mortgage stress to hit 300,000: report
An alarming 300,000 Australian households will be under severe mortgage stress by mid-2008 and at significant risk of losing their homes, a new report shows. (Thu, 13 Mar 2008 06:08:22 GMT)

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