Mortgage News Mar 2008

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Federal Home Loan Banks get $100B in Extra Mortgage-Buying Power
WASHINGTON (AP) - The Federal Home Loan Bank system can increase purchases of Fannie Mae and Freddie Mac securities by $100 billion over two.... (Tue, 25 Mar 2008 14:56:17 GMT)

California gives mortgage debtors a tax break
State senate approves a bill providing tax relief to strapped homeowners. SACRAMENTO (AP) -- The state Senate has approved a bill to help California homeowners whose lenders have forgiven part of their mortgage debt. (Tue, 25 Mar 2008 15:24:15 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, 25 Mar 2008 15:40:07 GMT)

Fall in range of mortgage deals
The credit crunch has seen the number of mortgage deals shrink by two-thirds since last summer, figures show. (Tue, 25 Mar 2008 16:40:51 GMT)

Federal Home Loan Bank of Atlanta to Award More than $3 Million in Affordable Housing Grants in the District of ...
Federal Home Loan Bank of Atlanta announced today that it will award nearly $3.2 million to help developers fund 471 affordable housing units in D.C. and Maryland. (Tue, 25 Mar 2008 16:43:00 GMT)

McCain: 'Complacent' lenders led to mortgage crisis
Sen. John McCain Tuesday blamed "rampant" speculation and "complacent" lenders for the current mortgage crisis, in a speech Tuesday. (Tue, 25 Mar 2008 17:53:32 GMT)

Infonavit Reschedules Mortgage Debt Sale on Pension Fund Rules
March 25 (Bloomberg) -- Infonavit, Mexico's housing agency, delayed the sale of as much as 3 billion pesos ($280 million) of mortgage debt on concern that demand may be reduced as pension funds are allowed to invest more in stocks and bonds. (Tue, 25 Mar 2008 18:15:57 GMT)

McCain's Santa Ana stop touches on mortgage crisis
In a speech to small-business owners, the Republican presidential candidate focuses on homeowners and urges lenders to do more to aid families. Nancy Reagan will endorse him today. - Sen. John McCain addressed the mortgage foreclosure crisis and the weakening economy in a speech in Santa Ana today but offered no major prescriptions for quelling turbulence -- instead calling for two panels to ... (Tue, 25 Mar 2008 18:30:00 GMT)

Straight Talk Express Rolls Into Mortgage Crisis
Senator John McCain on the government's role in the unfolding foreclosure crisis: "It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers... Some Americans bought homes they couldn’t afford, betting that rising prices would make it easier to refinance later at more affordable rates.” (Tue, 25 Mar 2008 18:36:32 GMT)

McCain's Santa Ana stop touches on mortgage crisis
In a speech to small-business owners, the Republican presidential candidate focuses on homeowners and urges lenders to do more to aid families. Nancy Reagan will endorse him today. - Sen. John McCain addressed the mortgage foreclosure crisis and the weakening economy in a speech in Santa Ana today but offered no major prescriptions for quelling turbulence -- instead calling for two panels to ... (Tue, 25 Mar 2008 18:41:27 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? (Tue, 25 Mar 2008 19:40:48 GMT)

Almost $13 million bilked in alleged mortgage swindle / 115 homeowners were defrauded, indictments charge
Federal prosecutors on Monday announced indictments in a mortgage scheme that victimized more than 100 homeowners and siphoned off nearly $13 million in home equity. Dozens of people in California and elsewhere lost their homes in the scam, which prosecutors... (Tue, 25 Mar 2008 20:21:25 GMT)

4 Charged With Mortgage Fraud
Two former employees of a subprime lender were charged Tuesday with operating a mortgage fraud scheme that lasted more than two years and involved more than $34 million in loans. (Tue, 25 Mar 2008 21:06:56 GMT)

HOUSE REFINANCING: THE NEXT STEP
KUALA LUMPUR, March 26 (Bernama) -- Refinancing may be the only option for some to get cash from their asset. (Wed, 26 Mar 2008 01:12:17 GMT)

House Refinancing: The Next Step (Malaysian National News Agency
By Rosliwaty Rosly KUALA LUMPUR, March 26 (Bernama) -- Refinancing may be the only option for some to get cash from their asset. (Wed, 26 Mar 2008 01:51:56 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, 26 Mar 2008 02:06:38 GMT)

California prosecutors indict 19 in mortgage fraud scheme
SACRAMENTO -- Federal prosecutors say more than 100 homeowners in California and across the country were victimized in a mortgage scheme that siphoned off nearly $13 million in home equity. (Wed, 26 Mar 2008 02:31:16 GMT)

Minimise mortgage before kids
Q. We have a $570,000 mortgage on a property that we paid $760,000 for 12 months ago (now worth $950,000). We have a combined gross income of $137,000 per annum, and are currently both working full-time with no children and have no other significant assets/investments. (Wed, 26 Mar 2008 02:53:54 GMT)

ELECTION NOTEBOOK: McCain Calls On Lenders To Help In Mortgage Crisis
WASHINGTON (Dow Jones) -- Top U.S. mortgage lenders should provide "maximum support" to help cash-strapped but creditworthy customers keep their homes, Republican presidential nominee-in-waiting John McCain said Tuesday. (Wed, 26 Mar 2008 03:28:33 GMT)

McCain warns against hasty mortgage bailout
John McCain drew a sharp distinction with the Democratic presidential candidates, placing some of the blame on homeowners. (Wed, 26 Mar 2008 03:29:06 GMT)

Lower mortgage rates spark interest in refinancing
MASON CITY — The current economic slump has a positive by-product: Lower interest rates on home mortgages. (Wed, 26 Mar 2008 05:26:29 GMT)

London Police to Add Mortgage-Fraud Investigators, FT Reports
March 26 (Bloomberg) -- The City of London police service plans in April to deploy 50 new investigators who may initially focus solely on mortgage fraud, the Financial Times reported, citing Detective Superintendent Oliver Shaw. (Wed, 26 Mar 2008 06:26:49 GMT)

Three indicted in alleged mortgage scheme
A Weld County grand jury Tuesday indicted three people accused of being involved in a mortgage scheme that left "many Greeley-area families in foreclosure, reduced property values of neighboring homes and defrauded lenders," according to the Weld County district attorney's office. (Wed, 26 Mar 2008 07:34:45 GMT)

City to refinance bond for garage
Clarksville City Council voted in a special-session Tuesday to refinance the last five years of a bond issue paying off the Cumberland Plaza parking garage. (Wed, 26 Mar 2008 10:04:19 GMT)

Mortgage refinancing filings surged last week, MBA says
CHICAGO (MarketWatch) -- Reflecting a surge in refinancing activity, the volume of mortgage applications rose a seasonally adjusted 48.1% in the week ended March 21 from the prior week, the Mortgage Bankers Association said Wednesday. (Wed, 26 Mar 2008 11:13:18 GMT)

Mortgage Volume Spikes on Refinancing
Mortgage application volume rose 48.1 percent during the week ending March 21 compared with the previous week, according to the trade group Mortgage Bankers Association's weekly survey. (Wed, 26 Mar 2008 11:28:17 GMT)

U.S. MBA's Mortgage Applications Index Jumped 48% Last Week
March 26 (Bloomberg) -- The number of mortgage applications filed in the U.S. jumped last week as a drop in borrowing costs caused refinancing to almost double. (Wed, 26 Mar 2008 11:29:41 GMT)

Mortgage applications spike after Fed action
U.S. mortgage applications jumped by nearly 50 percent last week as home loan rates fell after the Federal Reserve cut interest rates and took steps to restore bond market confidence, an industry trade group said on Wednesday. (Wed, 26 Mar 2008 11:35:20 GMT)

Downeast Mortgage Shutting Down
Downeast Mortgage Corp., one of Maine's biggest mortgage companies, will close up shop on April 21. According to one shareholder, a major commercial lender that deals with Downeast no longer wants to be part of a risky market. (Provided by News 13) (Wed, 26 Mar 2008 12:01:22 GMT)

Mortgage application volume rises
Mortgage Bankers Association weekly survey says the number of mortgage applications filed increased 48% last week; jump driven by refinancings. (Wed, 26 Mar 2008 12:09:15 GMT)

Hong Kong's New Mortgage Loans Drawn Down Declines 22.3% In February
(RTTNews) - The monthly survey of residential mortgage lending, released by the Hong Kong Monetary Authority revealed that new mortgage loans drawn down during February 2008 declined by 22.3% from the previous month. (Wed, 26 Mar 2008 12:12:21 GMT)

Cream for home loan copycats
LEADING banks are playing copycat on home loan interest rate rises because they fear losing shareholders more than losing customers, it has been claimed. (Wed, 26 Mar 2008 13:00:00 GMT)

McCain Urges Cuts over Bailouts in Mortgage Crisis
Morning Edition , March 26, 2008 · Not to be outdone by the Democratic presidential candidates, Sen. John McCain on Tuesday offered his own plan for managing the mortgage crisis. (Wed, 26 Mar 2008 13:13:47 GMT)

McCain Urges Cuts over Bailouts in Mortgage Crisis
Not to be outdone by the Democratic presidential candidates, Sen. John McCain on Tuesday offered his own plan for managing the mortgage crisis. The presumptive GOP nominee's plan would rely more on private sector cooperation and tax cuts rather than federal bailouts. (Wed, 26 Mar 2008 13:14:30 GMT)

Mortgage refinancing filings surged last week, MBA says
Mortgage refinancing filings surged last week, MBA says (Wed, 26 Mar 2008 14:11:21 GMT)

Paulson resists more government action to solve mortgage crisis
WASHINGTON (MarketWatch) -- U.S. Treasury Secretary Henry Paulson continues to argue against more government intervention in the mortgage crisis, saying a cluster of ideas currently floating around would “cause more harm than good.” (Wed, 26 Mar 2008 14:43:58 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Wed, 26 Mar 2008 15:58:36 GMT)

Conforming loan limits for Fannie Mae, Freddie Mac to be at least $417K in 2009
The Office of Federal Housing Enterprise Oversight, which oversees Fannie Mae and Freddie Mac, said conforming loan limits for the two mortgage companies will not fall below the current $417,000 next year, despite falling home prices. (FNM) (FRE) (Wed, 26 Mar 2008 18:00:53 GMT)

Newsweek: How to modify your mortgage
Modifying a mortgage isn't easy. What you need to know. (Wed, 26 Mar 2008 18:11:30 GMT)

FGIC: mortgage losses exceed legal limits
Bond insurer FGIC Corp said on Wednesday that its exposure to mortgage losses exceeded legal risk limits and it may raise loss reserves due to litigation related to stricken German bank IKB. (Wed, 26 Mar 2008 18:24:08 GMT)

UPDATE: Mortgage Refinancing Filings Surged Last Week, MBA Says
CHICAGO (Dow Jones) -- Reflecting a surge in refinancing activity, the volume of mortgage applications rose a seasonally adjusted 48.1% in the week ended March 21 from the prior week, the Mortgage Bankers Association said Wednesday. (Wed, 26 Mar 2008 19:41:23 GMT)

Mortgage aid plan sees role for Fannie, Freddie
Fannie Mae and Freddie Mac would have to meet new goals to invest in troubled loans and erase some mortgage debt for borrowers facing foreclosure under legislation contemplated by a leading Democratic lawmaker. (Wed, 26 Mar 2008 20:00:11 GMT)

Mortgage Lender Having Record Success Despite Market Conditions
Despite the nationwide downturn in the housing market and tightening credit standards for those looking to purchase or refinance a home, Pentagon Federal Credit Union, which offers competitive rates to high-quality borrowers, continues to see growth in mortgage loan volume. (Wed, 26 Mar 2008 20:48:00 GMT)

Home loan eligibility increases
Search for new & pre-owned cars. Research before you purchase. Find your new home. Browse through cars, couches, drum sets and treadmills. Or sell your own. (Wed, 26 Mar 2008 22:17:57 GMT)

Mortgage aid plan sees role for Fannie, Freddie
WASHINGTON (Reuters) - Fannie Mae (FNM.N) and Freddie Mac (FRE.N) would have to meet new goals to invest in troubled loans and erase some mortgage debt for borrowers facing foreclosure under legislation contemplated by a leading Democratic lawmaker. (Wed, 26 Mar 2008 22:22:00 GMT)

Is now the time to refinance?
NBC2 has a consumer alert about an easy way to get cash out of your home. Experts say refinancing is all about timing. Rates fluctuate, but right now the overall trend is toward cheaper loans. We found four ways to tell if it's the right time for you to refinance. (Wed, 26 Mar 2008 22:48:28 GMT)

Mortgage fraud conviction earns 12 years
A Centennial man has been sentenced to more than 12 years in federal prison for mortgage fraud, federal officials said Wednesday. (Wed, 26 Mar 2008 23:05:25 GMT)

Man gets 12½ years in mortgage fraud
A 44-year-old Centennial man has been sentenced to more than 12 years in a federal prison following a mortgage-fraud conviction. (Wed, 26 Mar 2008 23:34:22 GMT)

Consumers suffer as mortgage default rates hit record high
Mortgage defaults in Victoria reached record levels in the first two months of this year, and they are not likely to improve any time soon. (Thu, 27 Mar 2008 01:00:00 GMT)

UPDATE: Paulson Resists More Government Action To Solve Mortgage Crisis
WASHINGTON (Dow Jones) -- U.S. Treasury Secretary Henry Paulson continued to argue against more government intervention in the mortgage crisis on Wednesday, saying a cluster of ideas currently floating around would "cause more harm than good." (Thu, 27 Mar 2008 02:27:03 GMT)

The Fed bailout wasn't just for fat cats
NEW YORK (MarketWatch) -- If you're thinking about refinancing your mortgage, getting a loan to buy a new car, or switching to a lower-interest rate credit card, you can thank the Federal Reserve for your ability to do so. (Thu, 27 Mar 2008 04:13:28 GMT)

Rush to refinance nearly doubles mortgage applications
The number of mortgage applications filed in the U.S. jumped last week as a drop in borrowing costs caused refinancing to almost double. (Thu, 27 Mar 2008 06:10:19 GMT)

Obama criticizes McCain on mortgage crisis
The Democrat says the GOP candidate is following in Bush's footsteps and ignoring working families. Democrat Barack Obama mocked John McCain on Wednesday for urging government restraint in responding to the mortgage crisis, saying the Republican would "just sit back and watch" as millions of Americans lost their homes. (Thu, 27 Mar 2008 07:15:38 GMT)

Some now eligible to deduct mortgage insurance
For the first time, many low- and moderate-income families who purchased homes using private or government mortgage insurance will be able to deduct those premiums when they file their 2007 federal tax returns next month, says Kevin Schneider, president of the Mortgage Insurance Companies of America. (Thu, 27 Mar 2008 09:06:35 GMT)

Refinancing boosts mortgage applications
Mortgage applications rose last week as a drop in borrowing costs caused refinancing to almost double. (Thu, 27 Mar 2008 09:17:49 GMT)

Allahabad Bank cuts home loan, prime lending rates
MUMBAI, March 27 - State-run Allahabad Bank has cut its prime lending rate as well as home loans rate by 25 basis points each with effect from April 1, 2008, a top official said on Thursday. (Thu, 27 Mar 2008 09:36:31 GMT)

Allahabad Bank cuts home loan, prime lending rates
MUMBAI (Reuters) - State-run Allahabad Bank has cut its prime lending rate (PLR) as well as home loans rate by 25 basis points each with effect from April 1, 2008, a top official said on Thursday. (Thu, 27 Mar 2008 09:41:02 GMT)

U.K. Mortgage Approvals Fell by a Third in February, BBA Says
March 27 (Bloomberg) -- U.K. mortgage approvals fell by a third in February from a year earlier as higher credit costs deterred homebuyers, a report by the British Bankers' Association showed. (Thu, 27 Mar 2008 09:57:23 GMT)

Feds propose overhaul of mortgage process
Getting a mortgage can be confusing and frustrating. To make it less so, the federal housing department has proposed an overhaul of the mortgage process, from application to closing. (Thu, 27 Mar 2008 10:00:00 GMT)

Bank mortgage approvals still low
Bank mortgage lending to people who are moving home is still down by a third on the same time a year ago. (Thu, 27 Mar 2008 10:22:57 GMT)

State attorney general targets 3 mortgage companies
Three South Florida companies were accused Wednesday of running a mortgage Foreclosure rescue operation that defrauded more than two dozen homeowners of more than $1 million in home equity, according to a lawsuit filed by Attorney General Bill McCollum . (Thu, 27 Mar 2008 11:09:42 GMT)

New Government Mortgage Program Said To Be 'Useless'
Mortgage lenders are beginning to offer a new type of mortgage associated with President Bush's stimulus package that is intended to offer potential buyers lower rates, and so far the program has not been effective, brokers claim. Chase Lending Bank and Wells Fargo have begun implementing fees and guidelines for mortgages of up to $729,750 that will now be guaranteed by the quasi-government home ... (Thu, 27 Mar 2008 11:27:25 GMT)

Mortgage approvals close to record lows
Mortgage approvals for homebuyers are still close to the lowest levels on record, according to latest figures from the British Bankers' Association. (Thu, 27 Mar 2008 11:51:01 GMT)

Mortgage rates mix it up
Finally, a week without much change in fixed mortgage rates. (Thu, 27 Mar 2008 12:29:46 GMT)

6 home renovations with major payoffs
Unless Ty Pennington and the crew from "Extreme Makeover: Home Edition" take on your renovation project, you're likely to get weak-kneed looking at the estimate for the work or learning the terms of your home improvement loan. (Thu, 27 Mar 2008 12:30:07 GMT)

No drastic changes in mortgage rates this week
Associated Press - March 27, 2008 11:13 AM ET McLEAN, Va. (AP) - Mortgage rates were showing little change this week. According to mortgage giant Freddie Mac, the average for the... (Thu, 27 Mar 2008 15:17:19 GMT)

Banks Fail to Lower Mortgage Rates as Bernanke Cuts (Update1)
March 27 (Bloomberg) -- Marjorie Killian is eager to buy a home in San Diego and is pre-approved for a mortgage. She won't make an offer on a property until she can get a fixed rate of 5.5 percent, she said. (Thu, 27 Mar 2008 15:29:52 GMT)

What to Expect When Seeking a Mortgage in Today's Market
Getting a mortgage or refinancing one is now a Herculean task. Here's what to expect. (Thu, 27 Mar 2008 15:30:06 GMT)

No drastic changes in mortgage rates this week
According to mortgage giant Freddie Mac, the average for the 30-year fixed-rate loan fell to 5.85 percent from 5.87 percent last week. A year ago, it stood at 6.16 percent. (Thu, 27 Mar 2008 15:35:29 GMT)

Mortgage rates mixed
Mortgage rates were mixed this week as the index of leading indicators fell for the fifth straight month, home prices continued their decline and consumer confidence reached a 5-year low, Freddie Mac reported Thursday. (Thu, 27 Mar 2008 15:39:05 GMT)

States, Cities Move to Refinance Debt
States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add up the damages to their budgets and nurse some hard feelings. (Thu, 27 Mar 2008 16:38:18 GMT)

Ex-mortgage broker pleads guilty to fraud
TAMPA -- A former Hillsborough County mortgage broker pleaded guilty in federal court today to wire fraud and aggravated identity theft. According to a plea agreement, Luis Javier Uribe, 28, of Apollo Beach, worked with an unidentified title agent to... (Thu, 27 Mar 2008 17:25:43 GMT)

Obama criticizes McCain on mortgage stand
Democratic presidential candidate Barack Obama has sharply criticized GOP contender John McCain for urging restraint on the mortgage crisis. (Thu, 27 Mar 2008 17:50:50 GMT)

Nationwide ups its mortgage rates
The UK's second biggest mortgage lender raises rates on new fixed rate and tracker mortgages. (Thu, 27 Mar 2008 18:45:24 GMT)

Mortgage Rates Still Cling To 6% Despite Easier Credit
Mortgage rates remained near 6% this week--and are even up slightly from the previous week--despite Federal Reserve efforts to push interest rates lower. (Thu, 27 Mar 2008 19:57:36 GMT)

States, Cities Move To Refinance Debt
States, cities, hospitals and major public agencies are scrambling to refinance debt in the broken market for 'auction rate' securities. (Thu, 27 Mar 2008 20:07:04 GMT)

States, cities move to refinance debt
States, cities, hospitals and major public agencies are scrambling to refinance debt in the broken market for 'auction rate' securities. (Thu, 27 Mar 2008 20:26:40 GMT)

No drastic changes in mortgage rates this week
McLEAN, Va. (AP) - Mortgage rates were showing little change this week. According to mortgage giant Freddie Mac, the average for the 30-year fixed-rate loan fell to 5.85 percent from 5.87 percent last week. A year ago, it stood at 6.16 percent. (Thu, 27 Mar 2008 20:56:55 GMT)

British Pound Could Break 2.0 if Disaster Hits UK Mortgage Lenders
According to an article in the UK Times, Nationwide, the country?s second largest mortgage lender is planning to turn away business. (Thu, 27 Mar 2008 21:45:12 GMT)

Dodd Starts Circulating His Mortgage Rescue Plan
Staff for Senate Banking, Housing and Urban Affairs Chairman Chris Dodd (D-Conn.) have started circulating draft text of his version of a plan spur more lenders to write-down troubled mortgages. Dodd’s proposal would create a new program within the Federal Housing Administration aimed at helping distressed homeowners refinance into loans they can afford. Under the proposal, lenders would agree ... (Thu, 27 Mar 2008 22:15:17 GMT)

Massive home loan scam details emerge in court
Details of a massive home loan scam targeting unsophisticated buyers in south Auckland have emerged at a depositions hearing in Manukau District Court. (Thu, 27 Mar 2008 23:47:44 GMT)

Some Hawaii mortgage rates slightly lower
Mortgage rates were mixed at Hawaii's largest banks this week, while the national average for a 30-year fixed-rate loan remained relatively flat. (Fri, 28 Mar 2008 00:08:18 GMT)

Nationwide and Halifax put up mortgage rate to deter new customers
Two of the biggest mortgage lenders increased their rates sharply yesterday in a attempt to close the door to all but the most credit-worthy customers. (Fri, 28 Mar 2008 00:15:50 GMT)

Court hears details of massive home loan scam
Details of an alleged home loan scam targeting unsophisticated buyers in South Auckland have emerged at a depositions hearing in Manukau District Court. (Fri, 28 Mar 2008 00:35:18 GMT)

Xceed Mortgage cutting 74 jobs as part of cost cutting measures
TORONTO - Xceed Mortgage Corp. (TSX:XMC) said Thursday it was cutting 74 jobs including several members of is senior executive team as part of a plan to cut costs. (Fri, 28 Mar 2008 00:40:49 GMT)

Housing agency drafts mortgage bailout plan: sources
WASHINGTON (Reuters) - The leading U.S. housing agency has drafted a foreclosure prevention program that could work in tandem with plans created by leading Democratic lawmakers, but it still needs the blessing of the Bush administration, sources familiar with the plan said Thursday. (Fri, 28 Mar 2008 01:07:21 GMT)

It's a tough time to refinance city projects
HARRISBURG, Pa. — States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add up the damages to their budgets and nurse some hard feelings. The highest-profile fallout so far is the tightening of the student-loan market, including the suspension of new student loans by ... (Fri, 28 Mar 2008 01:36:20 GMT)

Scrambling To Refinance
Municipalities, States, Among Those Facing Higher Interest Rates On Debt States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add up the damages to their budgets and nurse some hard feelings. (Fri, 28 Mar 2008 01:54:16 GMT)

Now families face £1,300 a year mortgage increase
Families face a £1,300 annual increase in their mortgage payments after the country's biggest building society announced a rise in its lending rates. The Nationwide will today hit homeowners with its fifth increase in mortgage rates since the start of the year. (Fri, 28 Mar 2008 02:47:30 GMT)

Mortgage holders continue to fix loans
Mortgage holders continue to turn to fixed-rate home loans on the prospect that interest rates may rise further, new figures show. (Fri, 28 Mar 2008 05:56:31 GMT)

Westpac raises home loan rates
Westpac has announced it is increasing interest rates on home loans because of turmoil on global financial markets. (Fri, 28 Mar 2008 07:16:00 GMT)

Westpac raises home loan rates
Westpac has announced it is increasing interest rates on home loans because of turmoil on global financial markets. (Fri, 28 Mar 2008 07:16:00 GMT)

Massive home loan scam details emerge in court
Details of a massive home loan scam targeting unsophisticated buyers in South Auckland have emerged at a depositions hearing in Manukau District Court. (Fri, 28 Mar 2008 07:21:14 GMT)

Now fixed rates beat ARMs
Hardly anyone buying or refinancing a home today is choosing an adjustable rate mortgage, because the financial incentive just isn't there. (Fri, 28 Mar 2008 07:48:19 GMT)

Now families face £1,300 a year mortgage increase
Families face a £1,300 annual increase in their mortgage payments after the country's biggest building society announced a rise in its lending rates. The Nationwide will today hit homeowners with its fifth increase in mortgage rates since the start of the year. Experts said homowners are paying the price for the global credit crunch, which is squeezing the amount banks and building societies ... (Fri, 28 Mar 2008 08:12:11 GMT)

Public agencies struggle to refinance debt
States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add up the damages to their budgets and nurse some hard feelings. (Fri, 28 Mar 2008 08:17:55 GMT)

Analyst sees $4.2 billion in home loan losses this year at WaMu
Washington Mutual Inc., the largest U.S. savings and loan, might lose $4.2 billion this year because of mounting losses on home loans, CreditSights Inc. said in a report Thursday. (Fri, 28 Mar 2008 08:33:49 GMT)

New middle tier of home loan rates
MIDDLE-TIER LOAN RATES Raising the "conforming" loan limit from $417,000 to $729,750 has not dramatically lowered interest rates for homeowners in Silicon Valley. (Fri, 28 Mar 2008 09:02:03 GMT)

Fleeing U.S., loan debt is shoddy plan
A foreign student who may ditch the country -- and her car loan -- is showing poor form, says Bankrate car columnist Terry Jackson. (Fri, 28 Mar 2008 10:00:00 GMT)

Banks unconcerned about loan defaults
Three interest rate rises in Australia last year have driven a spike in home and other loan defaults and deliquencies, but the major banks aren't worried. (Fri, 28 Mar 2008 11:26:26 GMT)

Xceed Mortgage Executives Resign; 74 Jobs Eliminated (Update1)
March 27 (Bloomberg) -- Xceed Mortgage Corp ., the Toronto- based mortgage lender that has lost 60 percent of its market value this year, said Chief Operating Officer Michael Jones and Chief Financial Officer John Ayanoglou resigned as it struggles to find funding. (Fri, 28 Mar 2008 11:46:16 GMT)

Lenders hike mortgage rates
Some of Britain's biggest mortgage lenders have raised the cost of borrowing to battle the effects of the credit crunch despite expected further cuts in interest rates by the Bank of England. (Fri, 28 Mar 2008 11:54:06 GMT)

A lifeline for delinquent mortgage borrowers
Mortgage lenders desperately want past-due borrowers to open the mail and pick up the phone. That's the gist of the latest public-private collaboration to address the mortgage crisis. (Fri, 28 Mar 2008 12:01:22 GMT)

Contacting mortgage servicers
When you're falling behind on your house payments and you need to work something out with the mortgage servicer, you want to talk to someone in the loss mitigation department. The following list contains the names of mortgage servicers and their phone numbers. (Fri, 28 Mar 2008 12:01:33 GMT)

Uniontown councilman to plead guilty in mortgage fraud case
UNIONTOWN, Pa. - A Uniontown councilman says he'll plead guilty in a mortgage fraud scheme run by his daughter and resign. (Fri, 28 Mar 2008 12:08:31 GMT)

Scramble on to refinance debt
HARRISBURG, Pa. - States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add up the damages to their budgets and nurse some hard feelings. The highest-profile fallout so far is the tightening of the student-loan market, including the suspension of new student loans by ... (Fri, 28 Mar 2008 12:11:50 GMT)

Mortgage rate freeze not good idea: OFHEO chief
There are signs of improvement in U.S. housing markets but the idea of freezing mortgage rates for a period of time would be a mistake, the director of the Office of Federal Housing Enterprise Oversight said on Friday. (Fri, 28 Mar 2008 12:21:01 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, 28 Mar 2008 12:55:05 GMT)

Housing regulator: Freezing mortgage rates a bad idea
Housing markets are showing signs of improvement, and the idea of freezing mortgage rates would be a mistake, the director of the Office of Federal Housing Enterprise Oversight said Friday. (Fri, 28 Mar 2008 13:20:45 GMT)

Shore Mortgage Recruiting Additional 100 New Employees - First 150 Jobs Filled, Current Needs Include Underwriters, ...
Shore Mortgage, a full service mortgage company offering new mortgages as well as refinancing services, has four locations throughout the Detroit metropolitan area. The company continues to be among the largest government guaranteed and insured mortgage originators locally in Michigan as well as nationwide. (Fri, 28 Mar 2008 14:32:00 GMT)

What Type of Mortgage Should You Get?
So you're thinking of buying a home. Good for you! Building equity is a smart thing for many of us to do. But if the recent subprime mortgage crisis has taught us anything, it's to be careful about how we borrow for a home. (Fri, 28 Mar 2008 15:08:23 GMT)

What Type of Mortgage Should You Get?
Mortgage selection can be tricky, so be careful. (Fri, 28 Mar 2008 15:08:23 GMT)

States, cities scramble to refinance debt, limit budget damage
HARRISBURG -- States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add ... (Fri, 28 Mar 2008 15:14:44 GMT)

Dolan Media Swings to 4th-Qtr Profit As Mortgage Default Processing Unit Grows
MINNEAPOLIS (AP) - Dolan Media Co., a provider of legal and professional publications and services, said Thursday that it swung to a profit in the fourth quarter, beating Wall Street expectations, as its mortgage default processing business grew. (Fri, 28 Mar 2008 15:56:14 GMT)

Court hears details of massive home loan scam
Details of an alleged home loan scam targeting unsophisticated buyers in South Auckland have emerged at a depositions hearing in Manukau District Court. (Fri, 28 Mar 2008 16:16:13 GMT)

Bank of America to pay mortgage head more than CEO got in '07
Bank of America Corp agreed to pay David Sambol, COO of takeover target Countrywide Corp , more than its own CEO received in 2007 to encourage him to lead the bank's consumer mortgage business. (Fri, 28 Mar 2008 17:28:29 GMT)

Fitch Affirms 10 & Downgrades 1 Class from 5 DLJ Mortgage Acceptance . Corp Deals
Corp Deals 28/03/2008 16:58:00 Business Wire Fitch Ratings has taken rating actions on the following DLJ Mortgage Acceptance Corporation mortgage pass-through certificates: Series 1992-A --Class A affirmed at AAA . (Fri, 28 Mar 2008 17:47:31 GMT)

County nursing home loan receives OK
URBANA – The Champaign County Board voted to lend the county nursing home $775,000 Thursday night, then spent more than an hour fighting over an ordinance change necessary to fund the loan. The Democratic caucus came out charging against problems with the nursing home – hit with a $600,000 Medicaid cut and higher nursing costs – that would require the county, financially strapped in its own ... (Fri, 28 Mar 2008 19:23:51 GMT)

County nursing home loan receives OK
URBANA – The Champaign County Board voted to lend the county nursing home $775,000 Thursday night, then spent more than an hour fighting over an ordinance change necessary to fund the loan. The Democratic caucus came out charging against problems with the nursing home – hit with a $600,000 Medicaid cut and higher nursing costs – that would require the county, financially strapped in its own ... (Fri, 28 Mar 2008 19:28:20 GMT)

Thornburg Mortgage Announces One-Day Extension of Company s Override . Agreement with Selected Repurchase Agreement ...
Agreement with Selected Repurchase Agreement Counterparties 28/03/2008 18:49:00 Business Wire Thornburg Mortgage, Inc. (Fri, 28 Mar 2008 19:47:00 GMT)

BofA to pay mortgage head more than CEO got in 2007
Bank of America Corp agreed to pay David Sambol, COO of takeover target Countrywide Corp $28 million, considerably more than its own CEO received in 2007, to lead the bank's consumer mortgage business. (Fri, 28 Mar 2008 20:04:56 GMT)

BofA to pay mortgage head more than CEO got in '07
Bank of America Corp agreed to pay David Sambol, COO of takeover target Countrywide Corp $28 million, considerably more than its own CEO received in 2007, to lead the bank's consumer mortgage business. (Fri, 28 Mar 2008 20:05:16 GMT)

Thornburg Mortgage Gets 1-Day Extension
Thornburg Mortgage Inc. said Friday it received a 24-hour extension from a group of its lenders to raise at least $948 million in new capital, to 5 p.m. today. (Fri, 28 Mar 2008 22:43:10 GMT)

Bush Addresses Mortgage Mess In N.J.
A New Jersey town got a firsthand look Friday at President Bush's plan to help solve the mortgage crisis. With foreclosures rising, the president came to Freehold to promoter his plan to help troubled owners. More than that, the president came to New Jersey to reassure a jittery public. (Sat, 29 Mar 2008 01:41:33 GMT)

HUD calls for mortgage overhaul
Getting a mortgage can be confusing and frustrating. To make it less so, the federal housing department has proposed an overhaul of the mortgage process, from application to closing. (Sat, 29 Mar 2008 01:51:50 GMT)

Speaker Rubio failed to disclose loan
State House Speaker Marco Rubio abruptly amended his financial disclosure forms Friday after The Miami Herald asked why they lacked a $135,000 home-equity loan he obtained from a bank controlled by his political supporters. (Sat, 29 Mar 2008 02:04:03 GMT)

Thornburg Mortgage Announces Extension of Company's Override Agreement with Selected Repurchase Agreement Counterparties
Thornburg Mortgage, Inc. (NYSE:TMA) announced today that the company has received an extension through March 31, 2008, for the Override Agreement that the company had announced on March 19, 2008 whereby the company agreed to raise ... (Sat, 29 Mar 2008 02:44:31 GMT)

Rubio home equity loan questioned
State House Speaker Marco Rubio abruptly amended his financial disclosure forms Friday after The Miami Herald asked why they lacked a $135,000 home-equity loan he obtained from a bank controlled by his political supporters. (Sat, 29 Mar 2008 04:32:19 GMT)

Bush readying mortgage aid plan: report
The Bush administration is finalizing a plan to rescue thousands of homeowners facing foreclosure by helping them refinance into more affordable loans, the Washington Post reported in its Saturday edition. (Sat, 29 Mar 2008 04:39:02 GMT)

Bush prepares mortgage plan - report
THE Bush administration is finalizing a plan to rescue thousands of homeowners facing foreclosure by helping them refinance into more affordable loans, the Washington Post reported. (Sat, 29 Mar 2008 04:55:00 GMT)

Bush readying mortgage aid plan
The Bush administration is finalizing details of a plan to rescue thousands of homeowners at risk of foreclosure, by helping them refinance into more affordable mortgages backed by public funds, government officials said. (Sat, 29 Mar 2008 05:13:55 GMT)

Thornburg Mortgage Announces Extension of Company s Override Agreement . with Selected Repurchase Agreement ...
with Selected Repurchase Agreement Counterparties 29/03/2008 02:09:00 Business Wire Thornburg Mortgage, Inc. (Sat, 29 Mar 2008 05:14:59 GMT)

Bank of America to pay mortgage head more than CEO got in '07
NEW YORK (Reuters) - Bank of America Corp (BAC.N) agreed to pay David Sambol, COO of takeover target Countrywide Corp (CFC.N), more than its own CEO received in 2007 to encourage him to lead the bank's consumer mortgage business. (Sat, 29 Mar 2008 06:31:56 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, 29 Mar 2008 07:14:08 GMT)

Realty tax tips: Does refinancing save money? It depends
I bought my condo 18 months ago. The interest rate on my 30-year loan is 6.25 percent. Should I consider refinancing to a lower rate? I plan on staying here and paying off the loan so it seems even if I save some money on a lower interest rate I will be extending my loan and paying more over the long haul. — Scott (Sat, 29 Mar 2008 07:14:35 GMT)

Democrats prod Bush on mortgage crisis
As Congress prepares to return from recess, lawmakers renew their calls for aggressive federal intervention to help homeowners. As the economic downturn deepens, congressional Democrats are turning up the heat on the White House and Republicans in Congress to respond more aggressively to the mortgage crisis when lawmakers return next week from their spring recess. (Sat, 29 Mar 2008 07:14:37 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, 29 Mar 2008 08:16:28 GMT)

Chase Mortgage leaked memo shows "cheats and tricks" used to give out unqualified mortgages
Barry sez, "An internal memo, explaining how to beat the Mortgage Loan Computer System (Zippy) at JPM Chase was leaked to the Portland Oregonian. (Sat, 29 Mar 2008 12:12:36 GMT)

Mortgage industry to get background checks
Wyoming now has access to a national database for checking on license applicants. CHEYENNE - The number of licensed mortgage brokers and lenders in Wyoming decreased by more than 20 percent last year compared to 2006, according to the state agency that oversees the industry. (Sat, 29 Mar 2008 12:27:52 GMT)

Vijaya Bank proposes reverse mortgage, on-line trading schemes
Public-sector Vijaya Bank proposes to launch reverse mortgage and on-line trading schemes from next month, its chairman and managing director Prakash P Mallya said on Saturday. (Sat, 29 Mar 2008 13:36:14 GMT)

STATE: Rep. Stripp pans a bill for mortgage bailout
State Rep. John E. Stripp (R-135) has expressed concern over a bill approved by the Legislature’s Banks Committee which creates a three-tired mortgage bailout program in Connecticut. (Sat, 29 Mar 2008 14:23:55 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, 29 Mar 2008 17:10:30 GMT)

Steps in Financing a Home, From Qualification to Lock
Home buyers sometimes get into trouble because they don't understand the steps involved in financing their purchases. These steps are qualification, preapproval, approval and lock. (Sat, 29 Mar 2008 17:50:39 GMT)

Divorced From the Man but Not From the Mortgage
Q: My then-husband and I bought a house in 1995. We divorced in 1999, and, pursuant to our divorce decree, he kept the house and I moved out. We both remarried in 2000. My new husband and I have a new mortgage on our home, after fighting to prove to the lender that my ex has the previous house. (Sat, 29 Mar 2008 17:51:29 GMT)

Home loan rates may go up soon
Inflation has begun to bite. IDBI Bank has withdrawn the 0.5 per cent cut in rates of home loans and other debt it had announced on Wednesday. Many other banks, say industry experts, are likely to follow suit. (Sat, 29 Mar 2008 20:40:39 GMT)

When your loan's worth more than your home
Home buyers are still leaping into no-deposit mortgages, despite warnings the housing market may drop more than 10 per cent in the next year, potentially leaving them with a loan worth more than their home. (Sat, 29 Mar 2008 20:42:44 GMT)

Rubio home equity loan questioned
State House Speaker Marco Rubio abruptly amended his financial disclosure forms Friday after The Miami Herald asked why they lacked a $135,000 home-equity loan he obtained from a bank controlled by his political supporters. (Sat, 29 Mar 2008 20:58:18 GMT)

Plan to Help Homeowners Gains Steam
Federal housing agencies are closer to a plan that could help homeowners caught in the mortgage crisis without requiring them to sell or refinance their homes. (Sat, 29 Mar 2008 22:16:08 GMT)

How to Cast a Mortgage Lifeline?
Any approach taken to address the subprime meltdown must not be too generous in shielding people and businesses from the consequences of their own bad decisions. (Sat, 29 Mar 2008 22:19:29 GMT)

Bush Says Administration Will Expand Mortgage-Relief
March 29 (Bloomberg) -- President George W. Bush said the government will expand efforts to help homeowners avoid foreclosure as Democrats increase pressure on his administration to reduce unaffordable home-loan payments. (Sat, 29 Mar 2008 22:28:28 GMT)

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