Mortgage News Mar 2008

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Mortgage stress to soar by mid year
An alarming 300,000 Australian households will be under severe mortgage stress by mid-2008 and at significant risk of losing their homes, as interest rates and living costs rise, a new report shows. (Thu, 13 Mar 2008 06:10:54 GMT)

Treasuries Gain as Carlyle Group Fails to Reach Lender Accord
March 13 (Bloomberg) -- Treasuries gained as Carlyle Group's mortgage-bond fund failed to reach an agreement with lenders to refinance debt, a sign that credit-market losses are deepening. (Thu, 13 Mar 2008 06:44:40 GMT)

Soaring foreclosures are bad news for neighbors with good credit who want to sell or refinance
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. Neighbors matter when it comes to pricing homes. (Thu, 13 Mar 2008 07:06:19 GMT)

Paulson to Propose Tougher Bank Scrutiny After Mortgage Crisis
March 13 (Bloomberg) -- Treasury Secretary Henry Paulson , Federal Reserve Chairman Ben S. Bernanke and other U.S. regulators will propose greater scrutiny of lending in a report on lessons from the mortgage crisis, a government official said. (Thu, 13 Mar 2008 07:44:38 GMT)

Treasuries Gain as Carlyle Group Fails to Reach Lender Accord
March 13 (Bloomberg) -- Treasuries rose, led by 10-year notes, as Carlyle Group's mortgage-bond fund failed to reach an agreement with lenders to refinance debt, a sign that credit- market losses are deepening. (Thu, 13 Mar 2008 08:14:42 GMT)

U.S. mortgage mess creeps north
The effects of the U.S. subprime crisis are showing up on the fringe of the Canadian mortgage business, even though mainstream lending and the housing market are on solid ground. (Thu, 13 Mar 2008 10:04:42 GMT)

U.S. Stock-Index Futures Drop; Citigroup, Bank of America Fall
March 13 (Bloomberg) -- U.S. stock-index futures slumped after Carlyle Group's mortgage-bond fund failed to reach an agreement to refinance debt, spurring concern losses in credit markets will deepen. (Thu, 13 Mar 2008 11:14:32 GMT)

Woes at Carlyle Capital could be harbinger of yet more trouble in mortgage funds
NEW YORK - A mortgage-backed investment fund created by the Carlyle Group faltered near collapse Thursday, in what analysts saw as a sign that more bad investments need to be cleared out before markets can begin righting themselves. (Thu, 13 Mar 2008 11:31:38 GMT)

Mortgage pain spreading to affluent
AUSTRALIA'S mortgage crisis is deepening and for the first time threatening to produce "affluent stress" -- financial grief among higher income families -- as new figures show that more than 700,000 households will come under some mortgage pressure by June. (Thu, 13 Mar 2008 13:00:00 GMT)

Mortgage stress hits rich
AUSTRALIA'S mortgage crisis is deepening and for the first time threatening to produce "affluent stress" -- financial grief among higher income families -- as new figures show that more than 700,000 households will come under some mortgage pressure by June. (Thu, 13 Mar 2008 13:00:00 GMT)

US Treasury chief urges overhaul of mortgage rules
US Treasury Secretary Henry Paulson on Thursday called for a wide-ranging overhaul of practices governing mortgage bankers, credit rating agencies and the trading of mortgage-backed securities. (Thu, 13 Mar 2008 14:25:21 GMT)

Tighter Mortgage Oversight Urged
Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger oversight of mortgage lenders to avert credit crises like the current one (Thu, 13 Mar 2008 14:48:13 GMT)

Mortgage rates rise
Mortgage rates rose across the board this week as lower home prices and mortgage rates contributed to a more affordable market for homebuyers, Freddie Mac reported Thursday. (Thu, 13 Mar 2008 14:54:14 GMT)

U.S. mortgage rates rise: Freddie Mac
Mortgage rates climb this week but are still below year-ago levels, according to Freddie Mac. (Thu, 13 Mar 2008 14:58:33 GMT)

Paulson urges tighter mortgage oversight
Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger regulatory oversight of mortgage lenders to avert the kind of credit crisis that is dragging the economy down. (Thu, 13 Mar 2008 15:27:30 GMT)

Mortgage Rates Jump Again
Rates on 30-year mortgages increased this week for the fourth time in the past five weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.13 percent this week, up from 6.03 percent last week. (Thu, 13 Mar 2008 15:29:50 GMT)

Paulson: Time to toughen rules on mortgage brokers
Financial regulators pledged on Thursday to toughen rules for mortgage brokers, lenders and credit agencies in a bid to ease a credit crunch and to try to restore investor confidence in markets. (Thu, 13 Mar 2008 16:11:06 GMT)

Mortgage-backed securities sink Carlyle Capital
The likely liquidation of Carlyle Capital's remaining assets sent the fund's shares plummeting more than 90% Thursday and rattled stock markets around the globe. It was also a high-profile setback for private equity fund Carlyle Group. (Thu, 13 Mar 2008 16:17:38 GMT)

U.S. mortgage fund nears collapse
Carlyle Capital Corp., a U.S. mortgage fund affiliated with the private equity giant Carlyle Group, says that it has been unable to meet its margin calls, and is likely to have its assets seized by creditors. (Thu, 13 Mar 2008 16:19:36 GMT)

US financial chiefs urge overhaul of mortgage, credit markets
America's top financial chiefs urged mortgage firms, credit rating agencies and banks to overhaul their practices Thursday as a spreading credit crunch rocks Wall Street and the US economy. (Thu, 13 Mar 2008 18:11:55 GMT)

U.S. Home Defaults, Foreclosures Rise 60% in February (Update3)
March 13 (Bloomberg) -- U.S. home foreclosure filings jumped 60 percent and bank seizures more than doubled in February as rates on adjustable mortgages rose and property owners were unable to sell or refinance amid falling prices. (Thu, 13 Mar 2008 18:29:36 GMT)

Florida No. 1 in mortgage fraud; foreclosures up 60%
Florida led the nation in mortgage fraud in 2007, a dubious distinction it's had two years running. And in a separate report, research firm RealtyTrac said nearly 60% more U.S. homes faced foreclosure in February than in the same month last year, (Thu, 13 Mar 2008 19:13:41 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, as interest rates and living costs rise, a new report shows. (Thu, 13 Mar 2008 19:16:02 GMT)

Mortgage rates increase for fourth time in 5 weeks
Rates on 30-year mortgages increased this week for the fourth time in the past five weeks. (Thu, 13 Mar 2008 19:18:05 GMT)

Paulson proposes tighter mortgage, credit rules
Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger regulatory oversight of mortgage lenders to avert the kind of credit crisis that is dragging the economy down. (Thu, 13 Mar 2008 19:25:41 GMT)

Bankrate: Mortgage Rates Rise as Treasury Yields Fall
Fixed mortgage rates posted a modest increase in the past week, with the average conforming 30-year fixed mortgage rate now 6.39 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, 13 Mar 2008 19:37:00 GMT)

Stricter mortgage rules proposed
Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession. (Thu, 13 Mar 2008 19:43:13 GMT)

Mortgage Meltdowns Continue
Bad news continues to roll out from the mortgage industry as major players in the financial industry and government officials attempt to salvage what remains and prevent homeowners nationwide from going to the poorhouse. (Thu, 13 Mar 2008 20:06:02 GMT)

Florida tops mortgage fraud list
For the second straight year, the Sunshine State leads the United States in fraudulent mortgage activity; Nevada comes in second. (Thu, 13 Mar 2008 20:09:15 GMT)

U.S. regulators unveil plan to revamp mortgage rules
U.S. financial regulators pledged on Thursday to toughen rules for mortgage brokers, lenders, and credit agencies, to try to restore investor confidence and prevent a recurrence of credit-market problems that threaten to slow the economy. (Thu, 13 Mar 2008 20:44:18 GMT)

Stricter mortgage rules proposed
Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession. (Thu, 13 Mar 2008 21:14:01 GMT)

New Tucson Branch a Rising Star With Fairway Independent Mortgage Corporation
The Tucson branch of Fairway Independent Mortgage Corporation was named the 16th highest producing office of 100 offices nationwide, in its January listing. (Thu, 13 Mar 2008 21:37:00 GMT)

FHA Increase Means More Money for Home Purchases
Slowly but surely the real estate market in Phoenix is starting to see some positive signs. The Federal Housing Adminstration recently upped the amount of money they'll loan you to buy a home. (Thu, 13 Mar 2008 21:42:48 GMT)

US financial chiefs urge mortgage, banking reforms
America's top financial chiefs urged mortgage firms, credit rating agencies and banks to overhaul their practices Thursday, as a spreading credit crunch rocks Wall Street and the US economy. (Fri, 14 Mar 2008 03:14:03 GMT)

Minnesota 10th in U.S. for mortgage fraud
Minnesota ranks 10th in the country for reported mortgage fraud, down from its No. 5 spot a year earlier but high enough to indicate the problem remains coast to coast even as loan-making slows. (Fri, 14 Mar 2008 05:25:00 GMT)

US wants tougher mortgage rules
US policymakers lay out plans for stricter regulation of mortgage lenders to avoid another housing crisis. (Fri, 14 Mar 2008 06:55:29 GMT)

Chris Hill's of Global Home Mortgage Announces Launch of the New Virtual Loan Department Chrishills.net.
Global Home Mortgage, Inc. of MA announces the launch of their Virtual Loan Department www.chrishills.net . Global's virtual loan department allows consumers to research and get approved for a mortgage 24 hours a day, 7 days a week. (Fri, 14 Mar 2008 07:01:00 GMT)

Chris Hill's of Global Home Mortgage Announces Launch of the New Virtual Loan Department Chrishills.net.
Global Home Mortgage, Inc. of MA announces the launch of their Virtual Loan Department www.chrishills.net . Global's virtual loan department allows consumers to research and get approved for a mortgage 24 hours a day, 7 days a week. (PRWeb Mar 14, 2008) Read the full story at http://www.prweb.com/releases/2008/03/prweb768984.htm (Fri, 14 Mar 2008 07:13:09 GMT)

Leaders push ideas to address mortgage crisis
The White House and key congressional leaders offer new plans to mitigate the nation's widening mortgage crisis, reflecting their growing alarm about its effect on homeowners and the financial industry. (Fri, 14 Mar 2008 07:51:11 GMT)

Agency gears up for home loan program
Despite the downturn there has been good news in the local housing market-- for some people anyway. As the Redevelopment Agency prepares to assist in providing $800,000 in grant funding for home loans and rehabilitation, having housing be more affordable to low-income residents helps. (Fri, 14 Mar 2008 08:07:25 GMT)

Stricter mortgage rules proposed
Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession. (Fri, 14 Mar 2008 08:09:24 GMT)

Northport considers refinancing debt
NORTHPORT | Faced with a doubled interest rate on the more than $1 million in debt remaining from a 2002 bond issue, city officials are leaning toward refinancing the outstanding balance and possibly saving a few thousand dollars over the next five years. (Fri, 14 Mar 2008 08:33:20 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? (Fri, 14 Mar 2008 10:25:25 GMT)

Carlyle Capital hedge fund goes bust
Carlyle Group has been forced to shut down an £11bn fund after banks pulled out of a refinancing package. Its Carlyle Capital hedge fund, which had a large exposure to the US mortgage market is in dire straits only two weeks after the company issued its annual report for 2007 with a clean bill of health from the auditors PricewaterhouseCoopers, the Guardian said. (Fri, 14 Mar 2008 10:28:43 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, 14 Mar 2008 10:40:16 GMT)

30-year mortgage rates continue to increase
WASHINGTON -- Rates on 30-year mortgages increased this week for the fourth time in the past five weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6. (Fri, 14 Mar 2008 10:45:39 GMT)

Impac Mortgage's COO and CIO Resign
Impac Mortgage Holdings Inc. said Friday Executive Vice President and Chief Investment Officer Andrew McCormick and Executive Vice President and Chief Operating Officer Richard Johnson have resigned. (Fri, 14 Mar 2008 11:36:01 GMT)

Paulson urges tighter mortgage oversight
Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger regulatory oversight of mortgage lenders to avert the kind of credit crisis that is dragging the economy down. (Fri, 14 Mar 2008 11:47:05 GMT)

Impac Mortgage chief investment officer, chief operating officer resign
NEW YORK (Thomson Financial) - Impac Mortgage Holdings Inc. Friday said Chief Investment Officer Andrew McCormick has resigned, effective March 31, and Chief Operating Officer Richard Johnson has resigned, effective March 12. (Fri, 14 Mar 2008 11:51:30 GMT)

Feds propose home-loan disclosure reform
Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush. (Fri, 14 Mar 2008 13:08:37 GMT)

HUD unveils easier to understand mortgage disclosure form
Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush. The proposed overhaul to a 1974 law requiring lenders to give what's called a "good faith estimate" is aimed at making it simpler for consumers to comparison shop when they buy a house or refinance a mortgage. ... (Fri, 14 Mar 2008 13:27:08 GMT)

Feds Propose Home-Loan Disclosure Reform
Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush. The proposed overhaul to a 1974 law requiring lenders to give what'... (Fri, 14 Mar 2008 13:37:22 GMT)

Feds Propose Home-Loan Disclosure Reform
WASHINGTON -- Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush. (Fri, 14 Mar 2008 13:44:35 GMT)

Feds Propose Home-Loan Disclosure Reform
WASHINGTON -- Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush. (Fri, 14 Mar 2008 13:44:45 GMT)

Bush to announce proposal for mortgage form changes
WASHINGTON — Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled today by President George W. Bush. (Fri, 14 Mar 2008 13:45:55 GMT)

White House aims to simplify mortgage process
Buyers would get easier-to-understand mortgage terms and save about $700 in closing costs under a new proposal. (Fri, 14 Mar 2008 13:54:05 GMT)

Michael Jackson to keep Neverland Ranch
Michael Jackson's lawyer said the pop star has worked out a refinancing deal to keep his Neverland Ranch in Los Olivos, Calif.The 2,800-acre spread was once Jackson's home and boasted a private zoo and amusement park.It reportedly was scheduled to be auctioned off next Wednesday at the Santa Barbara courthouse after Jackson defaulted on his $24.5 million mortgage. However, the singer's attorney ... (Fri, 14 Mar 2008 14:08:43 GMT)

HUD unveils reformed mortgage-term disclosure form for consumers
WASHINGTON -- Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled today by President ... (Fri, 14 Mar 2008 15:51:45 GMT)

Tougher Rules Urged For Mortgage Lenders
Treasury Secretary Henry Paulson said stronger regulatory oversight of mortgage lenders is needed to avert a credit crisis. But Wall Street found little solace in his comments: the Dow Jones industrials fell 200 points Thursday morning. (Fri, 14 Mar 2008 16:00:05 GMT)

FBI starts Nevada mortgage-fraud task force
The FBI has started a mortgage-fraud task force in southern Nevada to combat what the agency said was a "significant crime problem" in the top U.S. state for investor-owned mortgage defaults. (Fri, 14 Mar 2008 17:43:35 GMT)

New mortgage rules could clean up causes of US meltdown: Fed
Federal Reserve chairman Ben Bernanke said Friday new mortgage standards being proposed by the central bank may clean up practices blamed for the horrific meltdown in the US housing market. (Fri, 14 Mar 2008 18:27:39 GMT)

Home loan subsidy for poor in offing
The government is planning to provide an interest-rate subsidy on home loan for the economically weaker section and low-income group in urban areas. (Fri, 14 Mar 2008 19:14:48 GMT)

Feds propose home-loan disclosure reform
Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush. The proposed overhaul to a 1974 law requiring lenders to give what's called a "good faith estimate" is aimed at making it simpler for consumers to comparison shop when they buy a house or refinance a mortgage. ... (Fri, 14 Mar 2008 21:35:24 GMT)

Feds Propose Home-Loan Disclosure Reform
Prospective home buyers would get easier-to-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal unveiled Friday by President Bush. (Fri, 14 Mar 2008 23:16:27 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sat, 15 Mar 2008 01:51:09 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sat, 15 Mar 2008 02:05:58 GMT)

Doors slam on mortgage deals
Banks that have long fought each other to win mortgage customers, are now, unusually, taking steps to repel them. Some are withdrawing entire mortgage ranges with very little notice and many are increasing interest rates to levels that are demonstrably unattractive. (Sat, 15 Mar 2008 03:29:06 GMT)

Tax breaks ease pain of mortgage crisis
In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible. (Sat, 15 Mar 2008 06:10:19 GMT)

Bernanke Remarks on Mortgage Crisis
FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS CHAIRMAN BEN BERNANKE: This audience, the National Community Reinvestment Coalition, is certainly aware that mortgage delinquency and foreclosure rates have increased substantially over the past year and a half. This increase reflects significantly, thoug... (Sat, 15 Mar 2008 06:28:51 GMT)

New mortgage cap rules will only help some
If you are buying or refinancing a U.S. home with an above-average price tag, you may be able to breathe easier and... (Sat, 15 Mar 2008 06:49:34 GMT)

First you have it, then you don't
Real estate developer John Wimmer paid Citigroup Global Markets Realty Corp. almost $1 million last year to lock in a 5.6 percent mortgage rate on the refinancing of six commercial properties. At the November closings, Citigroup, citing plummeting demand for mortgage bonds, boosted the rate to 7.123 percent. "I was very upset," Wimmer said in a phone interview from his office in Hales Corners, ... (Sat, 15 Mar 2008 07:07:09 GMT)

Kenneth Harney: Breaking insidious tie between lenders, home appraisals
Property appraisers have been warning about it for a decade, and the real estate market is reaping the whirlwind: The price declines under way around the country are partly the result of systemic, intentional overvaluations on home appraisals — much at the behest of loan officers illegally influencing or threatening appraisers to "hit the number" needed to close the deal. (Sat, 15 Mar 2008 07:13:52 GMT)

Reform package to address mortgage ill, Richardville says
Legislation that would regulate mortgage brokers in Michigan might be part of the solution to the sub-prime mortgage crisis that has led to foreclosed homes, left families in financial ruin and driven down property values in general, says state Sen. Randy Richardville, R-Monroe. (Sat, 15 Mar 2008 08:12:44 GMT)

HUD calls for greater mortgage disclosure
WASHINGTON - Prospective home buyers would get easier-to-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal introduced yesterday by President Bush. (Sat, 15 Mar 2008 08:22:09 GMT)

HUD calls for greater mortgage disclosure
WASHINGTON - Prospective home buyers would get easier-to-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal introduced yesterday by President Bush. (Sat, 15 Mar 2008 09:25:47 GMT)

Feds propose clearer mortgage info
Prospective home buyers would get easier-to-understand information on mortgage terms and save an average of $700 in closing costs under a proposal unveiled Friday by President Bush. (Sat, 15 Mar 2008 09:29:00 GMT)

Guidelines tightened on mortgage lending
Fannie Mae and Freddie Mac operate in America's secondary mortgage market to ensure mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. They both exist to expand affordable housing to local communities in order to serve the U.S. housing market. What this really means to you is any loan that is approved using their guidelines is going to have the best ... (Sat, 15 Mar 2008 10:57:44 GMT)

BSEL Infrastructure Realty FZE ties up with Bank of Baroda to offer mortgage finance
BSEL Infrastructure Realty (FZE), a fully-owned subsidiary of the Indian realty major, BSEL Infrastructure Realty Limited, developers of Dhs2bn worth seven residential towers at Ajman's Emirates City today announced tie up with Bank of Baroda (BOB) to offer mortgage financing to the property seekers in UAE for their own use. (Sat, 15 Mar 2008 11:38:29 GMT)

Bush Says U.S. Mustn't Overreact to Home-Mortgage `Rough Patch'
March 15 (Bloomberg) -- President George W. Bush said he won't be stampeded into ``bad policy decisions'' to bail out the home-mortgage industry because they might further harm the U.S. economy. (Sat, 15 Mar 2008 14:07:39 GMT)

Fannie Mae now lets you borrow your way out of mortgage trouble
For a mortgage borrower verging on delinquency, a cheaper loan may be the best way to save a home. But Fannie Mae, which holds major sway in the mortgage industry, is offering another alternative: an additional loan. (Sat, 15 Mar 2008 16:32:52 GMT)

Consult the mortgage holder before home is in jeopardy
Communities across New England and the nation are grappling with the souring of sub-prime mortgages and a jump in foreclosures. Many people took on sub-prime loans assuming home prices would keep rising and refinancing would be easy. Neither proved true. (Sat, 15 Mar 2008 17:07:49 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sat, 15 Mar 2008 17:25:04 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, 15 Mar 2008 20:26:23 GMT)

Wait, Weren?t These the Safer Bets?
Unlike such ill-starred peers as Countrywide Credit or Ameriquest, Thornburg Mortgage was supposed to have been a different kind of home loan company (Sat, 15 Mar 2008 23:28:29 GMT)

Mortgage hike alert after US bank crash
SHARP increases in mortgage costs of up to £3,000 a year now appear almost certain for tens of thousands of homeowners after the near-collapse of one of the world's bigges (Sun, 16 Mar 2008 00:26:45 GMT)

Overstating income helped sink mortgage industry
It's become clear that financial shenanigans are partly to blame for bogging down the mortgage industry. The depth of the quagmire has been the great unknown. (Sun, 16 Mar 2008 02:38:21 GMT)

Jumbo mortgage loan rates coming down slowly
No matter what the Federal Reserve does to grease the credit wheels, it seems that mortgage lending just keeps getting tighter. Lenders are demanding that borrowers have higher credit scores, better proof of their income and assets, and bigger down payments... (Sun, 16 Mar 2008 02:52:54 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, 16 Mar 2008 02:55:04 GMT)

Proposal offers easier-to-understand mortgage terms
WASHINGTON - Prospective home buyers would get easier-to-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal unveiled Friday by President Bush. (Sun, 16 Mar 2008 04:04:35 GMT)

Some borrowers hit new snag in 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. Some homeowners who in the past would have been approved for a mortgage refinancing are finding they can’t get their home-equity lender to give the go-ahead, which is required to complete the ... (Sun, 16 Mar 2008 04:19:33 GMT)

Seize the rate: Mortgage refinancing can save money for homeowners who shop around, pay attention
Battle Ground homeowners Susie and Fred McGee refinanced their mortgage in February, which turned out to be good timing, rate-wise. The McGees combined their first and second mortgages into a 30-... (Sun, 16 Mar 2008 05:25:24 GMT)

Time is right to get a good mortgage rate
Despite tightened lending standards to get a mortgage, homebuyers are still calling the shots. That's especially true if you don't have to worry about selling a house in a down market, you can come up with a 20 percent down payment, and you plan to live in the house for at least five years (time enough to recover your costs and wait for a rebound in home prices). (Sun, 16 Mar 2008 06:23:12 GMT)

Walking out on mortgage is wrong answer
There's a terrible idea apparently spreading amid the mortgage meltdown that the best solution to foreclosure is to stop paying your mortgage and abandon your home. (Sun, 16 Mar 2008 06:53:58 GMT)

Loan limits should be raised for reverse mortgages
While loan limits for conventional mortgages recently were raised with the passage of the Economic Stimulus Act of 2008, those seniors hoping to tap into additional home equity via the nation's most popular reverse mortgage are stuck with the same loan ceilings -- at least for now. (Sun, 16 Mar 2008 07:16:10 GMT)

More mortgage loan advice
More mortgage loan advice Think about what you can afford. The old rules of thumb, that a mortgage payment shouldn't account for more than 28 percent of your monthly gross income and total debt payments shouldn't be more than 36 percent, are only guidelines. (Sun, 16 Mar 2008 07:17:22 GMT)

Initial steps for applying for a mortgage loan
Getting a mortgage Plan ahead. Lenders are demanding more documentation than ever. (Sun, 16 Mar 2008 07:18:33 GMT)

Mortgage rates frustrate buyers
Mark Comerford was ready to become a homebuyer when 30-year mortgage rates dipped below 5.5 percent in late January on the heels of unusually large rate cuts by the Federal Reserve. (Sun, 16 Mar 2008 07:35:30 GMT)

Jumbo mortgage loan rates coming down slowly
No matter what the Federal Reserve does to grease the credit wheels, it seems that mortgage lending just keeps getting tighter. Lenders are demanding that borrowers have higher credit scores, better proof of their income and assets, and bigger down payments... (Sun, 16 Mar 2008 07:36:56 GMT)

Plan for simpler forms aims to ease mortgage shopping
WASHINGTON -- Prospective home buyers would get easier-to-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal by President Bush. (Sun, 16 Mar 2008 08:14:18 GMT)

Wasik: Home market needs more changes
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. (Sun, 16 Mar 2008 08:25:05 GMT)

Know the facts before refinancing
You may be able to save a lot of money by refinancing your mortgage. (Sun, 16 Mar 2008 08:33:18 GMT)

Know the facts before refinancing
You may be able to save a lot of money by refinancing your mortgage. (Sun, 16 Mar 2008 08:35:29 GMT)

Know the facts before refinancing
You may be able to save a lot of money by refinancing your mortgage. (Sun, 16 Mar 2008 08:36:39 GMT)

It's time to expand role of mortgage insurance
An enormous amount of ink has been spilled on the mortgage-market crisis, and I have contributed my share. Yet I am now convinced that the... (Sun, 16 Mar 2008 09:13:47 GMT)

Florida again leads in mortgage fraud Associated Press
WASHINGTON (AP) - Florida led the nation in mortgage fraud in 2007, a dubious distinction it's had two years running. (Sun, 16 Mar 2008 09:14:48 GMT)

Consumer loan and savings rates
Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. (Sun, 16 Mar 2008 09:15:49 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 16 Mar 2008 11:55:04 GMT)

David Zugheri Receives Certified Mortgage Technologist Designation
First Houston Mortgage, a mortgage banking firm licensed in 18 states that offers expertise in every (Sun, 16 Mar 2008 13:12:29 GMT)

First Houston Mortgage Hires New Director of Capital Markets  
16/03/2008 13:00:00 Business Wire First Houston Mortgage, a mortgage banking firm licensed in 18 states that offers expertise in every aspect of the residential mortgage lending process, named Steven Hultquist as director of capital markets. (Sun, 16 Mar 2008 13:13:26 GMT)

David Zugheri Receives Certified Mortgage Technologist Designation  
16/03/2008 13:00:00 Business Wire First Houston Mortgage, a mortgage banking firm licensed in 18 states that offers expertise in every aspect of the residential mortgage lending process, announced that co-founder David Zugheri received Certified Mortgage Technologist (CMT) designation from CampusMBA, the educational arm of the Mortgage Bankers Association (MBA). (Sun, 16 Mar 2008 13:13:36 GMT)

Paulson Urges Tighter Mortgage Oversight
Treasury Secretary Henry Paulson said Thursday that a presidential working group wants stronger regulatory oversight of mortgage lenders to avert the kind of credit crisis that is dragging the economy down.In a new Bush administration initiative that Paulson said is not about "finding excuses and scapegoats," a presidential working group set up in the wake of the 1987 stock market crash is ... (Sun, 16 Mar 2008 14:20:01 GMT)

From buying to selling, 'Home Rich' has it covered
Few events induce as much stress as buying a home until it's time to renovate, maintain or sell it. (Sun, 16 Mar 2008 17:13:22 GMT)

Wait, Weren’t These the Safer Bets?
Unlike such ill-starred peers as Countrywide Credit or Ameriquest, Thornburg Mortgage was supposed to have been a different kind of home loan company. (Sun, 16 Mar 2008 19:39:52 GMT)

Moribund Housing Lets U.S. Mortgage Bonds Diminish Treasuries
March 17 (Bloomberg) -- Investors in Treasuries dejected by the lowest yields on 10-year notes since 2003 may get some relief from the housing market. (Sun, 16 Mar 2008 22:14:42 GMT)

Homeowners face mortgage struggle
More than a third of a million homeowners who took out 'safe' mortgage deals five years ago are now struggling to face a bill of £1.02 billion. (Mon, 17 Mar 2008 00:54:06 GMT)

Homeowners face a £1 billion 'mortgage shock'
Hundreds of thousands of home owners face a "£1 billion mortgage shock" this year, as their five-year deals come to an end. (Mon, 17 Mar 2008 01:36:42 GMT)

Banks rush to withdraw mortgage deals
Banks and building societies are frantically withdrawing many of their mortgage deals, as the credit crunch puts increasing strain on lenders. (Mon, 17 Mar 2008 01:36:52 GMT)

Mortgage repayments on one wage
Q. Is there a way to rapidly reduce our mortgage repayments for four years while we switch to one wage to raise our children? A. (Mon, 17 Mar 2008 03:23:36 GMT)

Wait, Weren’t These the Safer Bets?
Unlike such ill-starred peers as Countrywide Credit or Ameriquest, Thornburg Mortgage was supposed to have been a different kind of home loan company. (Mon, 17 Mar 2008 03:40:49 GMT)

Mortgage Tax Breaks
In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible. (Mon, 17 Mar 2008 04:05:15 GMT)

Despite Fed's action, mortgage rates not dropping
Fed's cuts haven't reduced rates on home mortgages South Floridians are inundating lenders and mortgage brokers with requests to lower their house payments, reacting to the Federal Reserve's recent interest-rate cuts. (Mon, 17 Mar 2008 04:09:41 GMT)

The refi boom that wasn't
Leading New Mexico lenders say that any increase in mortgage refinancing in the state as a result of the Fed's rate reductions earlier in the year was short-lived and small. (Mon, 17 Mar 2008 04:42:36 GMT)

Borrowers take advantage of lower rates to refinance
In St. Louis, like everywhere else, the number of home mortgage refinancings is all about the interest rate -- and rates have been fluctuating wildly. (Mon, 17 Mar 2008 04:45:57 GMT)

SEC loan-loss rules intensify banks' mortgage headaches
Banks now weathering problems tied to problem loans and related troubles from the subprime mortgage meltdown have less cushion than they otherwise would have, thanks to federal regulatory changes. (Mon, 17 Mar 2008 04:48:36 GMT)

FHA loans help embattled mortgage lenders stay afloat
A couple years ago, many mortgage brokers went about their business without giving so much as a second thought to the Federal Housing Administration. (Mon, 17 Mar 2008 04:49:56 GMT)

FHA increase expected to boost home sales
Mortgage lenders and real estate agents say a rise in the Federal Housing Administration loan limit will be a shot in the arm for the local residential market. (Mon, 17 Mar 2008 05:23:22 GMT)

HUD unveils reformed mortgage-term disclosure form for consumers
Prospective home buyers would get easier-to-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal unveiled Friday by President Bush. (Mon, 17 Mar 2008 06:24:50 GMT)

RHB TARGETS RM1 BLN FROM NEW HOME LOAN SCHEME
KUALA LUMPUR, March 17 (Bernama) -- RHB Banking Group has set a target of RM1 billion for its MY1 Revolving Home Loan in the first phase following the launch today. (Mon, 17 Mar 2008 07:15:19 GMT)

Despite Fed cuts, mortgage interest rates creeping up
South Floridians are inundating lenders and mortgage brokers with requests to lower their house payments, reacting to the Federal Reserve's recent interest-rate cuts. (Mon, 17 Mar 2008 07:17:07 GMT)

Refinancing tips
REFINANCING TIPS Find a reputable mortgage broker who isn't pushy. (Mon, 17 Mar 2008 07:17:34 GMT)

Mortgage woes push lenders to tighten loan standards
NEW YORK — The loan you qualify for on Monday might be out of reach on Tuesday. (Mon, 17 Mar 2008 07:24:27 GMT)

Struggling with the home loan from hell
Mike and Trudy Scafiddi just wanted to tap their home equity, but in a moment of weakness, they refinanced at 8.5%. Now they're struggling with the home loan from hell. (Mon, 17 Mar 2008 08:48:08 GMT)

How bad is the mortgage crisis going to get?
If there is any word that captures the mood in the economy right now, it's uncertainty, along with shadings of bafflement and distrust. We have never seen a credit crisis quite like this. What's next? (Mon, 17 Mar 2008 09:09:05 GMT)

Deducting student loan interest
Interest you're paying on a college loan could help cut your tax bill. (Mon, 17 Mar 2008 10:00:00 GMT)

"He's the best golfer I've ever seen. Put your mortgage on Tiger to do a proper slam this year" - GM
"He's the best golfer I've ever seen. Put your mortgage on Tiger to do a proper slam this year" - GM (Mon, 17 Mar 2008 10:24:46 GMT)

Advisers confident over re-mortgage and protection, says L&G
Legal & General is launching a quarterly adviser confidence index that will track expectations among advisers of mortgage and protection sales and interest rate movements. (Mon, 17 Mar 2008 10:34:30 GMT)

UCO Bank slashes home loan rates
NEW DELHI: Responding to the plea of the Finance Minister, Mr P Chidambaram to moderate home loan rates, public sector lender UCO Bank on Monday reduced the rates by 0.25 per cent. (Mon, 17 Mar 2008 10:40:54 GMT)

FOS warns it will make "significant awards" over mortgage misselling
FOS principal ombudsman Tony Boorman has warned the mortgage industry it will make “significant awards” to customers who have been missold mortgages. ... (Mon, 17 Mar 2008 11:04:13 GMT)

First Houston Mortgage appoints director of capital markets
First Houston Mortgage has named Steven Hultquist as its new director of capital markets business. Mr Hultquists responsibilities include product development, pipeline revenue management and pricing and execution strategies. (Mon, 17 Mar 2008 11:09:38 GMT)

Mortgage brokers 'act fast' tip
People who decide on a new mortgage should act quickly in the fast-changing market, brokers say. (Mon, 17 Mar 2008 11:24:26 GMT)

UCO Bank slashes home loan rates by 0.25 per cent
Responding to the plea of the Finance Minister P Chidambaram to moderate home loan rates, public sector lender UCO Bank today reduced the rates by 0.25 per cent. (Mon, 17 Mar 2008 12:45:26 GMT)

H&R Block sells troubled mortgage servicer
Billionaire investor Wilbur Ross will pay $1.1 billion for H&R Block's troubled Option One mortgage servicing business, which has been rocked by the nationwide mortgage crisis. (Mon, 17 Mar 2008 12:56:30 GMT)

Despite Fed cuts, mortgage interest rates creeping up
South Floridians are inundating lenders and mortgage brokers with requests to lower their house payments, reacting to the Federal Reserve's recent interest-rate cuts. (Mon, 17 Mar 2008 13:09:12 GMT)

Wilbur Ross buys H&R Block's mortgage unit
Billionaire investor Wilbur Ross will pay $1.1 billion for H&R Block's troubled Option One mortgage servicing business, which has been rocked by the nationwide mortgage meltdown. (Mon, 17 Mar 2008 13:09:58 GMT)

Sector Glance: Mortgage Lenders Fall
Shares of mortgage lenders and financiers declined on Monday as the broader market fell on concerns over JPMorgan Chase & Co.'s government-backed buyout of Bear Stearns Cos. (Mon, 17 Mar 2008 14:17:02 GMT)

Block to sell mortgage business for $1.1 billion
H&R Block today said it will sell its mortgage loan servicing business to WL Ross & Co. for $1.1 billion. (Mon, 17 Mar 2008 14:35:41 GMT)

KTRV Investigates Mortgage Crisis
You've no doubt seen the headlines lately about the sub-prime mortgage crisis and record numbers of foreclosures. (Mon, 17 Mar 2008 15:47:49 GMT)

KTRV Investigates Mortgage Crisis
Boise, Idaho-- You've no doubt seen the headlines lately about the sub-prime mortgage crisis and record numbers of foreclosures. If you drive through an average neighborhood, you won't have trouble finding homes for sale. (Mon, 17 Mar 2008 15:49:29 GMT)

Earnings Roundup: Rising Mortgage Defaults Send PMI Group to Loss, Sun Communities Results Up
WALNUT CREEK, Calif. (AP) — PMI Group Inc. swung to a $1 billion loss in the fourth quarter as the spike in mortgage defaults led to an increase in claims and a deep loss at the company's bond insurer. (Mon, 17 Mar 2008 15:57:20 GMT)

Sector Snap: Mortgage REITs Drop
Shares of mortgage real estate investment trusts dropped Monday as the broader market fell into volatile trading on worries over JPMorgan Chase & Co.'s government-backed buyout of Bear Stearns Cos. (Mon, 17 Mar 2008 16:49:34 GMT)

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