Mortgage News Mar 2008

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Investor Ross buys H&R Block mortgage service unit
Billionaire investor Wilbur Ross, who made his fortune making bold bets on distressed industries, is buying H&R Block Inc's mortgage servicing business for $1.1 billion amid the worst market crisis in decades. (Mon, 17 Mar 2008 17:30:23 GMT)

Ross picks up Block loan unit for $1.1bn
Wilbur Ross, the billionaire investor, continued his foray into the troubled mortgage business when he agreed to buy H&R Block ’s subprime home loan servicing division for $1.1bn. (Mon, 17 Mar 2008 18:39:03 GMT)

UPDATE Orange County mortgage casualties
ACC Capital Holdings , Orange. Laid off an estimated 3,000 of the 6,000 employees at its Ameriquest Mortgage Co. , Argent Mortgage Co. and AMC Mortgage Services on March 15, 2007. Reported 1,072 layoffs in Orange County as of June 22 to the EDD. Seven more cuts at Argent were reported to the EDD effective Oct. 30. In 2006, the companies laid off more than 4,000 people. (Mon, 17 Mar 2008 19:40:38 GMT)

Banks rethink relationships with mortgage brokers
Industry that flourished after the S&Ls collapsed could find its role reduced after lending correction. (Mon, 17 Mar 2008 19:40:58 GMT)

Citigroup Announces Layoff in Iowa
The home mortgage division of Citigroup Inc. said Monday it is laying off 185 employees who worked in its home equity business, saying those types of loans are not salable in today's troubled home loan market. (Mon, 17 Mar 2008 19:59:39 GMT)

Federal Home Loan Bank of Atlanta to Award $6.6 Million for Housing in Alabama
Federal Home Loan Bank of Atlanta announced today that it will award more than $6.6 million to fund 20 affordable housing developments in Alabama. (Mon, 17 Mar 2008 20:15:00 GMT)

Deal Reached in American Home Ch 11 Case
American Home Mortgage Investment Corp. secured lenders have reached a deal with unsecured creditors over how to divide up cash raised in the failed company's bankruptcy liquidation. (Mon, 17 Mar 2008 20:31:28 GMT)

UCO Bank slashes home loan rates by 0.25%
The finance minister said he agreed that housing loan borrowers of less than Rs 20 lakh should be incentivised by lowering of rates. (Mon, 17 Mar 2008 20:53:38 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. (Mon, 17 Mar 2008 21:05:00 GMT)

Rush to refinance as economy slows
As interest rates continue to fall, other mortgage companies in town are seeing an influx of refinance applications. (Mon, 17 Mar 2008 22:34:32 GMT)

Program helps with home upgrades
For a long time, the Federal Housing Administration had a program called the FHA 203(k), under which a buyer could purchase a home and make major renovations from loan proceeds. (Mon, 17 Mar 2008 23:35:14 GMT)

Mortgage bill shock awaits 3m home owners
Almost three million home owners face a significant increase in monthly mortgage repayments this year, leading brokers have said. (Tue, 18 Mar 2008 00:06:53 GMT)

Widows restricts terms to counter home loan stampede
Scottish Widows Bank said yesterday it was accepting new business "only on quite restricted terms" after being overwhelmed by demand for home loans, as the credit famine starts to bite across the mortgage market. (Tue, 18 Mar 2008 00:07:08 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? (Tue, 18 Mar 2008 01:05:58 GMT)

Former U.S. ambassador, subprime mortgage pioneer dies
Roland Arnall, founder of subprime pioneer Ameriquest Mortgage Co, died of cancer on Monday morning in Los Angeles, his family said in a statement. (Tue, 18 Mar 2008 01:49:26 GMT)

H & R Block to sell mortgage business
H&R Block Inc. said Monday that it had signed an agreement to sell its troubled mortgage servicing business for $1.1 billion to billionaire investor Wilbur Ross. (Tue, 18 Mar 2008 02:08:02 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. (Tue, 18 Mar 2008 04:51:11 GMT)

Citigroup to lay off185 loan emp...
Citigroup to lay off 185 loan employees The home mortgage division of Citigroup Inc. said Monday it is laying off 185 employees in Des Moines, Iowa. The employees are in its home-equity business, but those types of loans are not sellable in today's home loan market, Citigroup said. (Tue, 18 Mar 2008 05:41:31 GMT)

H&R Block mortgage operation to be sold
Billionaire Wilbur Ross agreed to buy the mortgage-servicing unit of H&R Block Inc. for about $1.1 billion, creating the second-largest U.S. firm that collects payments on subprime loans. WL Ross & Co. would handle records for about $95 billion of subprime mortgages, behind only Countrywide Financial Corp., Ross' New York-based private equity firm said Monday in a statement. The sale may close ... (Tue, 18 Mar 2008 07:06:49 GMT)

H&R Block selling mortgage business
H&R Block said Monday it has signed an agreement to sell its troubled mortgage-servicing business for $1.1 billion to billionaire investor Wilbur Ross. (Tue, 18 Mar 2008 07:18:28 GMT)

Citigroup announces layoff of 185 home equity sales workers
DES MOINES, Iowa (AP) -- The home mortgage division of Citigroup Inc. said Monday it is laying off 185 employees who worked in its home equity business, saying those types of loans are not saleable in today's troubled home loan market. (Tue, 18 Mar 2008 07:24:52 GMT)

Fool's School Refinancing Basics
You may be able to save a lot of money by refinancing your mortgage. The benchmark 30-year, fixed-rate mortgage has been near record low levels for quite some time now, with many experts expecting it to rise over the coming years. If you have not refinanced yet, it may not be too late. You owe it to yourself to consider whether refinancing makes sense right now. (Tue, 18 Mar 2008 08:18:46 GMT)

UK Feb. Retail Prices Excld. Mortgage Interest Payment Up 3.7% On Year
(RTTNews) - UK Feb. retail prices excld. Mortgage interest payment up 3.7% on year (Tue, 18 Mar 2008 09:41:54 GMT)

Mortgage Lender To Axe 2,000 Jobs
Mortgage lender Northern Rock has confirmed plans to axe more than 2,000 jobs. (Tue, 18 Mar 2008 09:45:00 GMT)

Northern Rock to halve mortgage book, cut 2,000 jobs
LONDON - British bank Northern Rock said it will cut about one third of its workforce and shrink its mortgage lending by half as it aims to repay billions of pounds to the Bank of England within four years. (Tue, 18 Mar 2008 10:18:35 GMT)

CHRONOLOGY-N.Rock to halve mortgage book, cut 2,000 jobs
British bank Northern Rock said on Tuesday it would cut a third of jobs and shrink its mortgage lending by half as it aims to repay billions of pounds to the Bank of England over the next three to four years. (Tue, 18 Mar 2008 10:45:00 GMT)

Northern Rock to halve mortgage book
Beleaguered mortgage lender is to cut 2,000 jobs from its payroll (Tue, 18 Mar 2008 10:59:46 GMT)

Northern Rock to halve mortgage book, cut 2,000 jobs
Northern Rock unveiled plans to cut about 2,000 jobs and shrink its mortgage lending by half, as it seeks to win European regulatory support for its state rescue and repay billions of pounds of taxpayers' money. (Tue, 18 Mar 2008 11:27:45 GMT)

UPDATE: ECB Allots EUR25 Billion Extra One-Week Liquidity
(Adds further details, market comment.) FRANKFURT -(Dow Jones)- The European Central Bank allocated an extra EUR25 billion in liquidity at its regular weekly refinancing operation Tuesday, in an effort to curb fresh anxiety on money markets. (Tue, 18 Mar 2008 11:56:53 GMT)

Mortgage applications dip in first week of March
WASHINGTON – The number of residential mortgage applications nationwide fell in the first week of March, according to the Mortgage Bankers Association’s weekly report. (Tue, 18 Mar 2008 13:10:07 GMT)

Why mortgage rates are still heading higher
The Federal Reserve cut interest rates by three-quarters of a percentage point Tuesday, but don't expect mortgage rates to go down too. In fact, home loans could be heading higher. (Tue, 18 Mar 2008 13:39:05 GMT)

Witnesses give more details of stories
MANISTIQUE -A little more than three months after his wife’s death at the Pictured Rocks Cliffs, Thomas David Richardson met with bank mortgage officer Kari Comstock to try to refinance his home. (Tue, 18 Mar 2008 17:19:11 GMT)

Mortgage Rates Aren't Likely to Move Lower
Even with a big cut in interest rates today, homeowners shouldn't hold their breath waiting for their mortgage rates to follow. (Tue, 18 Mar 2008 17:38:43 GMT)

Home loan rates decline in last one year: Chidambaram
New Delhi, Mar 18: Home loan rates have seen a declining trend during the last one year, with rates slashed as many as three times by several banks, Parliament was informed on Tuesday. (Tue, 18 Mar 2008 18:22:17 GMT)

Fed Lowers Rates Again and Refinance.com Hotline Helps Homeowners Understand Options
Refinance.com, the nation's premier source for home mortgage refinancing, announces its national FHA Mortgage Hotline to help consumers understand the impact of today's Federal Reserve action on interest rates and other recent government actions related to mortgages and interest rates. (Tue, 18 Mar 2008 18:41:00 GMT)

Fed announcement: March 18, 2008
funds rate. What does this mean for your finances? When the Federal Reserve meets and changes rates, we all have questions: What does it mean to me? Will my mortgage rate go up or down? Is this a good time to refinance? Bankrate is here to help. (Tue, 18 Mar 2008 18:44:56 GMT)

Home loan rates decline in last one year: FM
Home loan rates have seen a declining trend during the last one year, with rates slashed as many as three times by several banks, Parliament was informed today. (Tue, 18 Mar 2008 18:55:04 GMT)

Sector Glance: Mortgage Lenders
Shares of mortgage lenders and thrift banks jumped Tuesday after the Federal Reserve cut its target for interest rates. The Federal Reserve Tuesday afternoon cut its target for short-term interest rates to 2.25 percent from 3 percent. (Tue, 18 Mar 2008 18:59:18 GMT)

FBI mortgage probe examining 17 large firms
The FBI's criminal probe of the mortgage lending industry has grown to 17 firms, involves large companies and could take years to conclude, agency officials told Reuters in an interview on Tuesday. (Tue, 18 Mar 2008 19:36:00 GMT)

FBI mortgage probe examining 17 large firms
The FBI's criminal probe of the mortgage lending industry has grown to 17 firms, involves large companies, and could take years to conclude, bureau officials said on Tuesday in a Reuters interview. (Tue, 18 Mar 2008 19:45:00 GMT)

More mortgage rate rises could be on the way
Homeowners could be facing further rises in mortgage interest rates as world credit markets remain under intense stress. (Tue, 18 Mar 2008 20:06:28 GMT)

FBI mortgage probe extended
The FBI's criminal probe of the mortgage lending industry has grown to 17 firms, involves large companies, and could take years to conclude, bureau officials said. (Tue, 18 Mar 2008 20:06:36 GMT)

Prosecutors shut mortgage firms accused of preying on homeowners
State prosecutors shut down seven mortgage companies Tuesday in an ongoing campaign against predatory lenders, accusing a family of con artists of tricking struggling homeowners into refinancing deals that caused many to lose their homes. (Tue, 18 Mar 2008 20:22:54 GMT)

Prosecutors shut mortgage firms accused of preying on homeowners
State prosecutors shut down seven mortgage companies Tuesday in an ongoing campaign against predatory lenders, accusing a family of con artists of tricking struggling homeowners into refinancing deals that caused many to lose their homes. Attorney... (Tue, 18 Mar 2008 20:36:37 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, 18 Mar 2008 20:44:49 GMT)

California Mortgage Fraud Ring Busted
California authorities said Tuesday they filed a lawsuit and made seven arrests in a mortgage fraud case involving seven companies and thousands of homebuyers in Southern California. (Tue, 18 Mar 2008 20:45:00 GMT)

Home loan rates have declined in last one yr
Home loans have seen a declining trend during the last one year, with loan rates been slashed for as many as once to three times by several banks, Parliament was informed on Tuesday. (Tue, 18 Mar 2008 21:38:28 GMT)

Central, Allahabad Bank slash home loan rates
Two state-owned banks, Central Bank, Allahabad Bank, have reduced housing retail rates on Tuesday, after finance minister P Chidambaram had desired that the banks should reduce home loan rates under Rs 20 lakh category. (Tue, 18 Mar 2008 21:41:00 GMT)

Prosecutors shut mortgage firms accused of preying on homeowners
State prosecutors shut down seven mortgage companies Tuesday in a growing campaign against predatory lenders suspected of tricking thousands of struggling homeowners into mortgage refinancing deals that led many to lose their homes. (Wed, 19 Mar 2008 00:34:39 GMT)

Mortgage rates largely unaffected by Fed's cut
The cost of a mortgage, which is affected more by bond prices than the federal funds rate, increased slightly on Tuesday. (Wed, 19 Mar 2008 01:16:36 GMT)

RBS mortgage-backed exposure doubles to £68bn
Royal Bank of Scotland ’s portfolio of mortgage-backed securities has more than doubled to about £68.3bn ($137.3bn) last year after it led the consortium that bought the Dutch bank ABN Amro. (Wed, 19 Mar 2008 02:19:19 GMT)

Roland Arnall, Mortgage Innovator, Dies at 68
Mr. Arnall, founded Ameriquest Mortgage, a company once billed as a sponsor of the American dream but later found itself at the center of the subprime mortgage crisis. (Wed, 19 Mar 2008 03:14:09 GMT)

SoCal Lenders Accused in Mortgage Fraud Ring
California prosecutors said Tuesday that they cracked a mortgage fraud ring that allegedly victimized thousands of Californians, some of them elderly and some who lost their homes. (Wed, 19 Mar 2008 03:22:37 GMT)

Why Only Some See Benefit From Fed's Cuts
The Federal Reserve's series of rate cuts has helped to make home-equity lines of credit, credit cards and auto loans more affordable. But it has done little to help new-home buyers and those looking to refinance their mortgage. (Wed, 19 Mar 2008 03:38:19 GMT)

Exclusive: Minn. Mortgage Companies Pocketing Money
In a Commerce Department raid, officials found thousands of mortgage closings that were never mailed at two metro mortgage companies. Three people have been charged with civil fraud. (Wed, 19 Mar 2008 03:46:32 GMT)

California Agents Bust Alleged Mortgage Fraud Ring
State prosecutors shut down seven mortgage companies Tuesday in an ongoing campaign against predatory lenders, accusing a family of con artists of tricking struggling homeowners into refinancing deals that caused many to lose their homes. (Wed, 19 Mar 2008 04:26:41 GMT)

Citigroup announces layoff of 185 home equity sales workers
DES MOINES, Iowa (AP) -- The home mortgage division of Citigroup Inc. said Monday it is laying off 185 employees who worked in its home equity business, saying those types of loans are not saleable in today's troubled home loan market. (Wed, 19 Mar 2008 06:24:38 GMT)

Fed Lowers Rates Again and Refinance.com Hotline Helps Homeowners Understand Options
Refinance.com, the nation's premier source for home mortgage refinancing, announces its national FHA Mortgage Hotline to help consumers understand the impact of today's Federal Reserve action on interest rates and other recent government actions related to mortgages and interest rates. Homeowners nationwide can call 1-888-FHA-1776 to get answers to their mortgage questions. (Wed, 19 Mar 2008 07:01:00 GMT)

Fed cuts fail to lower 30-year mortgage rates
They remain roughly where they were a year ago amid banks' wariness about making loans. The Federal Reserve has been slashing short-term interest rates since August with precious little effect on the one that matters most to homeowners and home buyers: the 30-year fixed mortgage rate. (Wed, 19 Mar 2008 07:23:31 GMT)

Fed Lowers Rates Again and Refinance.com Hotline Helps Homeowners Understand Options
Refinance.com, the nation's premier source for home mortgage refinancing, announces its national FHA Mortgage Hotline to help consumers understand the impact of today's Federal Reserve action on interest rates and other recent government actions related to mortgages and interest rates. Homeowners nationwide can call 1-888-FHA-1776 to get answers to their mortgage questions. (PRWeb Mar 19, 2008) ... (Wed, 19 Mar 2008 07:34:46 GMT)

New Radio Show Reveals Insider Secrets How To Survive This Mortgage Market Collapse
Teaneck, New Jersey based Mortgage Expert, Joe Gross reveals mortgage market survival secrets on a brand new radio show, "Your Home - Your Future" on WVNJ 1160AM. (PRWeb Mar 19, 2008) Read the full story at http://www.prweb.com/releases/Your-Home/Your-Future/prweb782504.htm (Wed, 19 Mar 2008 07:53:10 GMT)

Feds to free up billions to help homeowners refinance
The government is loosening capital restraints on Fannie Mae and Freddie Mac so that the mortgage-finance companies can expand their roles in the stricken housing market. (Wed, 19 Mar 2008 08:00:23 GMT)

Ohio Civil Rights Commission finds Argent Mortgage biased against blacks
The Ohio Civil Rights Commission has ruled there is evidence that Argent Mortgage Co. discriminated against black homeowners and homebuyers in Greater Cleveland by targeting them with predatory, subprime home loans that they could not afford. (Wed, 19 Mar 2008 08:50:14 GMT)

Cowell turns nice for mortgage pay-off
Simon Cowell has shrugged off his 'Mr Nasty' image and paid off the mortgage of a US couple whose daughter has cancer. (Wed, 19 Mar 2008 09:31:38 GMT)

Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether mortgage applications continued to slow, a week after they declined by nearly 2 percent. (Wed, 19 Mar 2008 10:18:25 GMT)

Mortgage applications off 2.9% on week-to-week basis: MBA
CHICAGO (MarketWatch) -- Applications filed for mortgages fell a seasonally adjusted 2.9% last week even as interest rates on fixed-rate mortgages declined, the Mortgage Bankers Association said Wednesday. (Wed, 19 Mar 2008 11:13:25 GMT)

Mortgage Application Volume Declines
Mortgage application volume fell 2.9 percent during the week ending March 14, according to the Mortgage Bankers Association's weekly application survey. (Wed, 19 Mar 2008 11:15:12 GMT)

U.S. MBA's Mortgage Applications Index Decreased 2.9% Last Week
March 19 (Bloomberg) -- Mortgage applications in the U.S. decreased for the fifth time in the last six weeks, led by a slump in refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan fell 2.9 percent last week to 652, the lowest level of the year, from 671.1 a week earlier. (Wed, 19 Mar 2008 11:44:51 GMT)

E*Trade exec resigns after mortgage loss
E*Trade Financial Corp , an online brokerage struggling with heavy mortgage losses, on Wednesday said R. Jarrett Lilien plans to resign as president and chief operating officer, less than three weeks after Donald Layton filled the vacant chief executive post. (Wed, 19 Mar 2008 12:33:53 GMT)

Cong to banks: Reduce home loan rates
Congress today asked scheduled and private banks to cut interest rates on home loans to "bring relief to millions of people across the country." (Wed, 19 Mar 2008 13:06:52 GMT)

Wall Street opens higher on mortgage news, Visa debut
Stocks opened higher on Wednesday, helped by news a regulator of two major U.S. home finance companies eased their capital requirements to pump money into the stressed mortgage market. (Wed, 19 Mar 2008 13:45:24 GMT)

Paulson says GSE changes to aid mortgage market
U.S. Treasury Secretary Henry Paulson said on Wednesday that changes to regulatory capital requirements for Fannie Mae and Freddie Mac will allow the two government housing finance enterprises to strengthen the U.S. mortgage market. (Wed, 19 Mar 2008 13:50:58 GMT)

$200B added to mortgage pipeline
An additional $200 billion in financing is headed to the battered mortgage markets after federal regulators Wednesday said they would allow finance giants Fannie Mae and Freddie Mac to reduce the capital they keep on hand. (Wed, 19 Mar 2008 13:54:15 GMT)

Fannie, Freddie free to pump billions into mortgage market
The government will free up billions of dollars at Fannie Mae and Freddie Mac, money that would be used to help homeowners refinance mortgages on the brink of default. (Wed, 19 Mar 2008 13:57:36 GMT)

Government to free up mortgage money
WASHINGTON – The government announced Wednesday that it is freeing up billions of dollars at Fannie Mae and Freddie Mac, money that would be used to help homeowners refinance mortgages on the brink of default. (Wed, 19 Mar 2008 14:06:24 GMT)

Thornburg Mortgage seeks $1 billion to insure survival
Thornburg Mortgage Inc said on Wednesday that it would try to quickly raise nearly $1 billion of capital to keep five lenders at bay and avoid a collapse for the struggling "jumbo" home loan provider. (Wed, 19 Mar 2008 14:49:38 GMT)

UPDATE: Home-Loan Delinquencies Continued Rise In February
Standard & Poor's said home-related delinquencies continued to rise in February, with the biggest rate increase found on securities created last year. (Wed, 19 Mar 2008 14:57:42 GMT)

US regulatory shift adds 200 billion dlrs to mortgage market
US regulators announced a plan Wednesday to allow government-sponsored mortgage firms Fannie Mae and Freddie Mac to pump an extra 200 billion dollars into the troubled housing market. (Wed, 19 Mar 2008 15:07:14 GMT)

US regulatory shift to add 200 billion dlrs to mortgage market
US regulators announced a plan Wednesday to allow government-sponsored mortgage titans Fannie Mae and Freddie Mac to pump an extra 200 billion dollars into the troubled housing market. (Wed, 19 Mar 2008 15:30:09 GMT)

Congress seeks cut in home loan rates
The Congress today made a strong plea for a cut in the interest rates on home loans. The plea was made by party spokesman Manish Tewari who asked the banks to follow the example of Central Bank of India and Allahabad Bank, which have reduced interest rates on home loans. (Wed, 19 Mar 2008 15:34:31 GMT)

Mississippi leads nation in late home payments
A report released today by the Mississippi Economic Policy Center finds Mississippians rank first in the nation in past due home loan payments and the state ranks first in the highest rate of subprime lending. (Wed, 19 Mar 2008 17:47:29 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, 19 Mar 2008 18:13:55 GMT)

Mortgage lenders to pump $200 billion into markets
The two largest U.S. mortgage finance companies on Wednesday won approval to pump up to $200 billion into the distressed U.S. mortgage market, the latest step in government efforts to stabilize credit markets and save the economy from recession. (Wed, 19 Mar 2008 18:43:19 GMT)

Mortgage firm needs to raise $1bn
Thornburg Mortgage says it is trying to raise $1bn (£500m) to keep its lenders at bay and avoid filing for bankruptcy. (Wed, 19 Mar 2008 18:55:54 GMT)

Mortgage Firms Accused Of Scams
State prosecutors have shut down seven mortgage companies in an ongoing campaign against predatory lenders, accusing a family of con artists of tricking struggling homeowners into refinancing deals that caused many to lose their homes. (Wed, 19 Mar 2008 19:04:24 GMT)

Movement may be seen on mortgage aid plan: Rep. Frank
An influential Democratic congressman said on Wednesday the Bush administration was willing to discuss a bold plan he proposed to tackle the nation's worsening mortgage foreclosure crisis. (Wed, 19 Mar 2008 19:23:15 GMT)

Home Loan Assistance
Perhaps some relief tonight for homeowners struggling to make their mortgage payments. The federal government is relaxing capital requirements for Fannie Mae and Freddie Mac to provide money in financing for home loans. (Wed, 19 Mar 2008 21:54:50 GMT)

Home loan rates up and rising
Mortgage lenders have continued to raise home loan rates over the past week and there are suggestions from some commentators that they could go higher still. (Wed, 19 Mar 2008 22:33:42 GMT)

Northern Rock to halve mortgage book, cut 2,000 jobs
LONDON (Reuters) - Northern Rock unveiled plans to cut about 2,000 jobs and shrink its mortgage lending by half, as it seeks to win European regulatory support for its state rescue and repay billions of pounds of taxpayers' money. (Thu, 20 Mar 2008 00:52:21 GMT)

Movement may be seen on mortgage aid plan: Rep. Frank
BOSTON/WASHINGTON (Reuters) - An influential Democratic congressman said on Wednesday the Bush administration was willing to discuss a bold plan he proposed to tackle the nation's worsening mortgage foreclosure crisis. (Thu, 20 Mar 2008 01:00:54 GMT)

Mortgage lenders to pump $200 billion into markets
WASHINGTON (Reuters) - Two U.S. home financing heavyweights won government approval on Wednesday to pump $200 billion more into troubled U.S. mortgage markets, the latest step to stabilize credit markets and avert a deep recession. (Thu, 20 Mar 2008 01:01:54 GMT)

Mortgage lenders to pump $200 billion into markets
WASHINGTON (Reuters) - Two U.S. home financing heavyweights won government approval on Wednesday to pump $200 billion more into troubled U.S. mortgage markets, the latest step to stabilize credit markets and avert a deep recession. (Thu, 20 Mar 2008 01:02:04 GMT)

Loan changes give home buyers hope
Buying a Bay Area home just became a lot easier. (Thu, 20 Mar 2008 01:55:51 GMT)

Mortgage Fraud Case Brings New Calls for Tighter Regulations
It was in August 2007 when investigator Eric Bremner found evidence in a shredder at Olympic Escrow Inc. he said confirmed borrowers' complaints that they had never signed the mortgage documents that pushed them into a new financial hell. Bremner found pieces of documents that had been cut to remove signatures and notary seals. (Thu, 20 Mar 2008 03:01:22 GMT)

Roland Arnall, Mortgage Innovator, Dies at 68
Mr. Arnall founded Ameriquest Mortgage, a company once billed as a sponsor of the American dream but later found itself at the center of the subprime mortgage crisis. (Thu, 20 Mar 2008 03:38:49 GMT)

Report: State ranks at top in mortgage crisis
When Keshia Arrington of Newton bought her home nearly six years ago, her mortgage lender told her she should have no problem with her adjustable rate mortgage. (Thu, 20 Mar 2008 06:10:36 GMT)

Feds move again on mortgage crisis
A federal housing regulator on Wednesday made it easier for mortgage giants Fannie Mae and Freddie Mac to absorb problem loans that are dragging down many U.S. homeowners, the latest of several measures designed to stabilize falling home prices. (Thu, 20 Mar 2008 07:14:04 GMT)

Mortgage applications off 2.9% on week-to-week basis: MBA
Mortgage applications off 2.9% on week-to-week basis: MBA (Thu, 20 Mar 2008 07:58:07 GMT)

U.S. moves to fix home-loan mess
A federal housing regulator on Wednesday made it easier for mortgage giants Fannie Mae and Freddie Mac to absorb problem loans that are dragging down many U.S. homeowners, the latest of several measures designed to stabilize falling home prices. (Thu, 20 Mar 2008 08:08:24 GMT)

Plan frees $200 billion for home loan financing
WASHINGTON - The government on Wednesday relaxed capital requirements at Fannie Mae and Freddie Mac as part of a plan to quickly inject an additional $200 billion of financing for home loans. (Thu, 20 Mar 2008 08:08:57 GMT)

Mortgage help is coming from Fannie, Freddie
WASHINGTON - The government made it easier yesterday for mortgage giants Fannie Mae and Freddie Mac to absorb problem loans that are dragging down many U.S. homeowners, the latest of several measures designed to stabilize falling home prices. (Thu, 20 Mar 2008 09:21:49 GMT)

Bankruptcy mortgage relief
Proposed legislation would offer mortgage borrowers in bankruptcy some relief. But passing the bill could be an uphill battle. (Thu, 20 Mar 2008 10:00:00 GMT)

Mortgage Fraud Case Brings New Calls for Tighter Regulations
It was in August 2007 when investigator Eric Bremner found evidence in a shredder at Olympic Escrow Inc. he said confirmed borrowers' complaints that they had never signed the mortgage documents that pushed them into a new financial hell. Bremner found pieces of documents that had been cut to remove signatures and notary seals. (Thu, 20 Mar 2008 10:01:11 GMT)

Forged documents validate mortgage fraud cases
LOS ANGELES -- It was in August 2007 when investigator Eric Bremner found evidence in a shredder at Olympic Escrow Inc. that he said confirmed borrowers' complaints that they had never signed the mortgage documents that pushed them into a new financial hell. (Thu, 20 Mar 2008 10:16:14 GMT)

Mexican Development Bank SHF moves to shore up mortgage industry
(This article was originally published Wednesday) MEXICO CITY (MarketWatch) -- Mexican development bank Sociedad Hipotecaria Federal, or SHF, has taken steps to bolster the mortgage industry in recent months by extending credit lines to lenders and actively purchasing mortgage bonds amid signs of tightening liquidity in global financial markets, according to a top executive. SHF has started ... (Thu, 20 Mar 2008 11:52:11 GMT)

Feds ease mortgage worries for agencies
WASHINGTON - A federal housing regulator on Wednesday made it easier for mortgage giants Fannie Mae and Freddie Mac to absorb problem loans that are dragging down many U.S. homeowners, the latest of several measures designed to stabilize falling home prices. The Office of Federal Housing Enterprise Oversight announced that it would lower the amount of capital that Fannie and Freddie must ... (Thu, 20 Mar 2008 12:10:56 GMT)

Cowell pays couple's mortgage
Simon Cowell pays off an American couple's £80,000 mortgage, to help them look after their daughter who has cancer. (Thu, 20 Mar 2008 13:14:18 GMT)

Fitch Rates ComEd's $700MM First Mortgage Bonds 'BBB'
NEW YORK----Fitch Ratings has assigned a 'BBB' rating to Commonwealth Edison Company's $700 million offering of 5.8% first mortgage bonds, series 108 due March 15, 2018. Net proceeds from the issuance will be used to repay borrowings made under the company's revolving credit agreement, to refinance the $120 million outstanding principal amount of the 8%, Series 83 First Mortgage Bonds, which ... (Thu, 20 Mar 2008 13:31:00 GMT)

Fitch Rates ComEd s $700MM First Mortgage Bonds BBB  
20/03/2008 13:31:00 Business Wire US02503U1016 Fitch Ratings has assigned a BBB rating to Commonwealth Edison Company s (ComEd) $700 million offering of 5.8% first mortgage bonds, series 108 due March 15, 2018. (Thu, 20 Mar 2008 13:45:17 GMT)

Fitch Rates ComEd's $700MM First Mortgage Bonds 'BBB'
Fitch Ratings has assigned a 'BBB' rating to Commonwealth Edison Company's (ComEd) $700 million offering of 5.8% first mortgage bonds, series 108 due March 15, 2018. Net proceeds from the issuance will be used to repay borrowings made under the company's revolving credit agreement, to refinance the $120 million outstanding principal amount of the 8%, Series 83 First Mortgage Bonds, which mature ... (Thu, 20 Mar 2008 13:53:08 GMT)

Md.: Mortgage Reforms Clear Senate
The Maryland Senate has unanimously approved mortgage lending bills aimed at addressing the state's rising foreclosure rate. (Thu, 20 Mar 2008 13:58:18 GMT)

Sector Glance: Mortgage Companies Rise
Shares of mortgage lenders and thrift banks jumped Thursday in the aftermath of regulators' decision to ease restrictions on how much Fannie Mae and Freddie Mac can grow their portfolios. (Thu, 20 Mar 2008 14:19:07 GMT)

Seven firms closed in Calif. mortgage fraud probe
It was in August 2007 when investigator Eric Bremner found evidence in a shredder at Olympic Escrow Inc. he said confirmed borrowers' complaints that they had never signed the mortgage documents that pushed them into a new financial hell. (Thu, 20 Mar 2008 14:22:08 GMT)

Long-term mortgage rates drop sharply in latest week
Long-term mortgage rates dropped sharply this week, while adjustable-rate mortgages barely budged from last week’s averages, according to Freddie Mac’s weekly survey released Thursday. (Thu, 20 Mar 2008 14:58:18 GMT)

Two Bay Area men who ran mortgage scheme sentenced to prison
The two founders of a Bay Area company that prosecutors say victimized thousands of people in a mortgage scheme will be spending a long time behind bars. Kurt Johnson of Sunnyvale was sentenced Tuesday to 25 years in prison, while Dale Heineman of... (Thu, 20 Mar 2008 18:06:25 GMT)

Mortgage Rates Drop, Reflect Fed Moves
30-year mortgage rates drop below 6 percent for the first time in over a month. (Thu, 20 Mar 2008 18:39:56 GMT)

Federal Home Loan Bank of Indianapolis Announces Appointment of New Community Interest Director
INDIANAPOLIS, March 20, 2008 -- On March 14, 2008, the Federal Housing Finance Board announced the appointment of Christine A. Coady to the open appointed director position on the Federal Home Loan Bank of Indianapolis' board, for a term ending December 31, 2010. (Thu, 20 Mar 2008 18:56:46 GMT)

Mortgage Insurer Limits at a Glance
Following are some of the restrictions major mortgage insurers are applying to properties located in markets identified as declining or distressed: (Thu, 20 Mar 2008 20:21:29 GMT)

Cost Of New Zealand Home Financing Increases - Survey
(RTTNews) - The cost of financing a home purchase in New Zealand increased nearly a quarter point in February, according to the latest Fairfax Media Home Loan survey. (Thu, 20 Mar 2008 20:26:14 GMT)

Fremont Sells Mortgage Servicing Rights
The flagging lender unloads the rights for an undisclosed sum to Carrington Mortgage Services. (Thu, 20 Mar 2008 22:10:15 GMT)

Dems Step Up Push For Home-Loan Fix, Citing Fed's Action
The Federal Reserve's move to take on $30 billion in risky Bear Stearns holdings may turn out to be the political equivalent of crossing the Rubicon. (Thu, 20 Mar 2008 22:42:38 GMT)

Mortgage crisis hits cultural institutions
Soaring costs of bonds lead to big losses at the Getty, Los Angeles County Museum of Art, the Orange County Performing Artscenter, Natural History Museum of Los Angeles County and the Colburn School. Some of Southern California's major cultural institutions are bleeding because of the sub-prime mortgage crisis, with combined losses of more than $3 million -- and mounting -- since February, ... (Thu, 20 Mar 2008 22:52:52 GMT)

When is the time to get mortgage preapproval, run credit check?
Some sellers -- and many real estate agents -- won't even bother showing houses to someone who is not preapproved for a mortgage. (Thu, 20 Mar 2008 23:44:08 GMT)

Mortgage criteria getting tighter
Consumers are finding it tougher to get a mortgage as cautious lenders continue to withdraw or change deals. (Fri, 21 Mar 2008 00:31:39 GMT)

Mortgage industry cuts back
Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow — even for those with good credit. Mortgage insurers, whose backing is required for borrowers who can't afford the traditional 20 percent down payment on a home, have already flagged nearly a quarter of the nation's ZIP codes where they refuse to insure some home loans. ... (Fri, 21 Mar 2008 02:06:07 GMT)

The mortgage famine: £30bn funding gap will deny thousands a home loan
Hundreds of thousands of would-be homebuyers will face severe problems taking out a mortgage this year, the Council of Mortgage Lenders warned yesterday. It said there could be a £30billion 'funding gap' - the difference between people who want a mortgage and the money that is available (Fri, 21 Mar 2008 02:27:18 GMT)

Mortgage industry clampdown
Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow -- even for those with good credit. (Fri, 21 Mar 2008 02:28:48 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, 21 Mar 2008 03:26:30 GMT)

Mortgage Industry Tightens Standards To Get A Home Loan
Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow - even for those with good credit. (Fri, 21 Mar 2008 04:20:57 GMT)

Mortgage Insurers Wary of Local Area
ST. CLAIRSVILLE — Although many private lenders in the mortgage industry are making it harder for homebuyers to borrow, local realtors are confident the area’s housing market has a solid foundation. (Fri, 21 Mar 2008 05:53:45 GMT)

Mortgage insurers cut out one-fourth of U.S. ZIP codes
Mortgage insurers, whose backing is required for borrowers who can't afford the traditional 20 percent down payment on a home, have flagged nearly a quarter of the nation's ZIP codes where they refuse to insure some home loans. (Fri, 21 Mar 2008 07:17:05 GMT)

Home loan reform is near
Lawmakers OK last bill in package to prevent future crises With the foreclosure crisis accelerating, Maryland lawmakers approved last night the final elements of one of the most aggressive reform packages in the nation to guard against future mortgage-related calamities. (Fri, 21 Mar 2008 07:24:31 GMT)

Home-loan restrictions
Major mortgage insurers are applying restrictions to properties in markets identified as declining or distressed. The restrictions include: •A borrower can't receive more than 95 percent in financing; in some cases, the highest amount allowed is 90 percent. (Fri, 21 Mar 2008 07:34:35 GMT)

Senate Democrats may steal Porter’s thunder on mortgage relief bill
Fri, Mar 21, 2008 (2 a.m.) Washington — As the foreclosure crisis in Southern Nevada deepened last fall, Treasury Secretary Henry Paulson proposed a way to help. Local housing agencies should be allowed to get into the refinancing business, giving homeowners another avenue for relief, Paulson said. (Fri, 21 Mar 2008 08:52:20 GMT)

Home loan reform is near
Lawmakers OK last bill in package to prevent future crises With the foreclosure crisis accelerating, Maryland lawmakers approved last night the final elements of one of the most aggressive reform packages in the nation to guard against future mortgage-related calamities. (Fri, 21 Mar 2008 09:54:10 GMT)

Mortgage firms play hardball
WASHINGTON -- Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow -- even for those with good credit. (Fri, 21 Mar 2008 10:40:56 GMT)

Mortgage broker James Sims is convicted; Frederick Watkins pleads guilty
A mortgage broker was found guilty of fraud after a three-day trial involving the purchase of a $490,000 house in Solon, and a second broker pleaded guilty to charges involving houses with a loan value of more than $9 million. (Fri, 21 Mar 2008 10:51:42 GMT)

Strict standards from mortgage insurers
Following are some of the restrictions major mortgage insurers are applying to properties located in markets identified as declining or distressed. (Fri, 21 Mar 2008 10:58:36 GMT)

Big mortgage lenders suffer most from credit crunch
Britain's largest mortgage lenders are suffering the most from the credit crunch, which has hit their competitiveness more than their smaller rivals, data shows. (Fri, 21 Mar 2008 11:37:00 GMT)

Even some who can pay mortgage are doing it, but that's the 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. (Fri, 21 Mar 2008 12:14:31 GMT)

Some state pension plans seek returns in out-of-favor mortgage market
COLUMBIA, S.C. - The subprime mortgage crisis has yielded at least one benefit for states: Mortgage-related investments have become so cheap that they are luring some pension funds to buy. (Fri, 21 Mar 2008 15:31:38 GMT)

Reporter's Request: Are you having problems getting a mortgage?
If you're a prospective buyer and are running into problems getting a mortgage because lending standards have tightened, we'd like to know. (Fri, 21 Mar 2008 15:42:49 GMT)

Mortgage Insurers Refuse To Back Some Borrowers
Mortgage insurers are now blackballing 10,000 ZIP codes nationwide, refusing to back borrowers based on where they want to live. (Fri, 21 Mar 2008 15:54:44 GMT)

House Passes Mortgage Fraud, Foreclosure Rescue Bills
The House of Delegates overwhelmingly passed bills yesterday creating a criminal statute allowing authorities to prosecute mortgage fraud and prohibiting "foreclosure rescue transactions," in which homeowners are tricked into signing over residences to third parties. (Fri, 21 Mar 2008 16:06:39 GMT)

No-deposit home loan limit may rise
The Government is considering raising the amount that can be borrowed under its no-deposit Welcome Home loans to make it a more realistic option for Auckland's first-home buyers. (Fri, 21 Mar 2008 16:13:14 GMT)

Hard times for home-owners
This year about 300,000 home mortgage-holders on fixed-term loans will need to refinance loans worth $42.7 billion. Many will be coming off interest rates of 6.9 to 7.5 per cent negotiated three years ago and staring at rates predicted to top 10 per cent. (Fri, 21 Mar 2008 16:50:12 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? (Fri, 21 Mar 2008 17:55:28 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 21 Mar 2008 18:40:34 GMT)

Mortgage shoppers in Michigan may find difficulty
Posted: Friday, March 21, 2008 at 3:59 p.m. From "mcmansions", to 60's ranch homes, if you fall in certain zip codes with high foreclosures, you may have to do some serious mortgage shopping. (Fri, 21 Mar 2008 20:12:25 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? (Fri, 21 Mar 2008 20:55:04 GMT)

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