Mortgage News Mar 2008

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In Philadelphia, Clinton calls for legal protections for honest mortgage lenders
PHILADELPHIA — Democrat Hillary Rodham Clinton proposed several remedies to the nation’s home mortgage problems Monday, including one tool more often associated with Republicans than Democrats. (Sat, 29 Mar 2008 23:55:14 GMT)

Some forced to choose between mortgage, HIV meds
Brian Clark of Davenport has a decision to make: Pay his mortgage, car payment and electric bill, or buy a one month’s supply of the medication that keeps him alive. (Sun, 30 Mar 2008 03:11:07 GMT)

Some forced to choose between mortgage, HIV meds
Brian Clark of Davenport has a decision to make: Pay his mortgage, car payment and electric bill, or buy a one month’s supply of the medication that keeps him alive. (Sun, 30 Mar 2008 05:11:47 GMT)

Road Home fraud suspected
The Answer Spot addresses post-Hurricane Katrina questions. To submit a question, send it to insurancesub)[612]>ROAD HOME Someone I know received $100,000 through the Road Home grant assistance program for damaged homes from Hurricane Katrina and Rita. The SBA loan, $20,000, was paid off and the remainder of the money placed into the checking account. (Sun, 30 Mar 2008 05:49:13 GMT)

Mortgage crisis may not subside for years
It may take several years before the mortgage crisis eases in places like North County, which has been especially hard hit with foreclosures. (Sun, 30 Mar 2008 05:53:23 GMT)

Condo owner ponders wisdom of refinancing
Q: 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... (Sun, 30 Mar 2008 07:23:25 GMT)

In Philadelphia, Clinton calls for legal protections for honest mortgage lenders
PHILADELPHIA — Democrat Hillary Rodham Clinton proposed several remedies to the nation’s home mortgage problems Monday, including one tool more often associated with Republicans than Democrats. (Sun, 30 Mar 2008 07:23:43 GMT)

HSBC guaranteed note offers low-cost home finance
In May HSBC will launch a new Shariah compliant, capital guaranteed note denominated in dirhams. Investors in this note can use it as security for 5% home loans, the latest example of lower US interest rates finding a way into the UAE home loan market where typical mortgage rates are a high 7.5%. (Sun, 30 Mar 2008 07:27:36 GMT)

Bailout or lifeline, feds offer more mortgage support
WASHINGTON — The Federal Home Loan Bank system won permission Monday to double the amount of capital that it can spend to purchase mortgage bonds in an effort to boost home lending and revive the nation's housing market. (Sun, 30 Mar 2008 07:29:36 GMT)

Congress poised to tackle tricky mortgage crisis
WASHINGTON - Congressional leaders are racing to push through an array of election-year housing measures that already have stirred up much political wrangling, and the White House is examining its own plan to further help homeowners caught in the mortgage meltdown. (Sun, 30 Mar 2008 07:50:38 GMT)

Lawmakers rush to act on mortgage crisis
WASHINGTON - Congressional leaders are racing to push through an array of election-year housing measures that already have stirred up much political wrangling, and the White House is examining its own plan to further help homeowners caught in the mortgage meltdown. (Sun, 30 Mar 2008 07:55:07 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, 30 Mar 2008 08:17:14 GMT)

Know pros, cons of each mortgage type
WASHINGTON – The mortgage mess that has unfolded in the past year has turned off many borrowers to nontraditional loans, especially the adjustable-rate mortgages that have been closely linked to a rise in foreclosures. (Sun, 30 Mar 2008 08:42:10 GMT)

Women & Money: If mortgage reset looms, find cash around the house
If you're feeling the pinch of a rising mortgage payment, you're hardly alone. By one estimate, about $1.3 trillion in existing mortgages will face an interest-rate reset by the end of 2008. Anyone who took out an adjustable-rate mortgage in recent years, or was enticed by a mortgage with a too-good-to-be-true initial rate, will get hit with a reset that goes up, not down. (Sun, 30 Mar 2008 09:03:38 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, 30 Mar 2008 09:17:07 GMT)

Cities, states scramble to refinance their debt
Fewer banks are willing to lend, and skyrocketing interest rates are straining public budgets. 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. (Sun, 30 Mar 2008 10:22:26 GMT)

Complex Wachovia mortgage program worries some
When she stopped by a Wachovia branch in Charlotte last month, Marilyn O'Connor asked about refinancing her townhome. Instead, she got a pitch for a "Pick-A-Payment" mortgage that offered flexible payment options but a higher interest rate. O'Connor said she initially agreed to apply for a Pick-A-Payment loan until she learned the interest rate. The full principal and interest payment option had ... (Sun, 30 Mar 2008 10:44:52 GMT)

Complex Wachovia mortgage program worries some
When she stopped by a Wachovia branch in Charlotte last month, Marilyn O'Connor asked about refinancing her townhome. Instead, she got a pitch for a "Pick-A-Payment" mortgage that offered flexible payment options but a higher interest rate. O'Connor said she initially agreed to apply for a Pick-A-Payment loan until she learned the interest rate. The full principal and interest payment option had ... (Sun, 30 Mar 2008 10:50:43 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, 30 Mar 2008 11:58:57 GMT)

Credit woes see ARMs vanish
Hardly anyone buying or refinancing a home today is choosing an adjustable rate mortgage, because the financial incentive just isn't there. The appeal of ARMs has been that they offer significantly lower interest rates than a conventional, fixed-rate mortgage, which can save the consumer a bundle in the short term. But this isn't a typical market. Nationally, the average, 30-year fixed mortgage ... (Sun, 30 Mar 2008 11:59:48 GMT)

U.S. lawmakers willing rescuers in mortgage crisis
The home mortgage crisis that has Wall Street and consumers worried about an economic meltdown is prompting many in the U.S. Congress to come to the rescue of hard-hit states that just happen to be crucial to their own election-year success. (Sun, 30 Mar 2008 12:01:25 GMT)

Canton couple swindled in mortgage scam
A Canton couple has been swindled out of more than $7,000 in a mortgage scam. The husband, 32, told officers that he and his wife learned of a company called Royal Advantage Group through Lendingtree.com and were approved for a $200,000 mortgage. In order to get the lump sum, which was supposed to be deposited into their bank account on March 20, they were instructed to send in an initial ... (Sun, 30 Mar 2008 12:30:36 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. (Sun, 30 Mar 2008 19:40:05 GMT)

McCune Foundation loses $130 million in subprime mortgage crisis
PITTSBURGH (AP) - The McCune Foundation has lost $130 million in assets due to a drop in the value of National City's stock, highlighting how the subprime mortgage crisis has impacted charitable organizations. (Sun, 30 Mar 2008 19:49:46 GMT)

Home loan demand down in suburbs
While high home loan rates have hit the real estate sector in the past one year, properties in tony areas like south Delhi and south Mumbai have appreciated by up to 85% during this period. (Sun, 30 Mar 2008 21:16:18 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. (Sun, 30 Mar 2008 21:40:05 GMT)

McCune Foundation loses $130 million in subprime mortgage crisis
PITTSBURGH - The McCune Foundation, one of the largest in western Pennsylvania, blames the subprime mortgage crisis for a $130 million loss in assets that has forced the foundation to suspend grant giving until at least June. (Sun, 30 Mar 2008 22:03:55 GMT)

Home loan demand down in suburbs
NEW DELHI: Home loan rates alone do not affect activities in the real estate sector; the performance of the stock market also has a direct bearing on property prices. (Sun, 30 Mar 2008 22:06:31 GMT)

Mortgage Crisis Hurting Minnesotans More than Ever
Across the country, 10% of homeowners owe more money on their mortgage than their house is worth. The Minnesota Housing Partnership and the think-tank Minnesota 2020 hosted a forum on the housing crisis Sunday afternoon. (Mon, 31 Mar 2008 02:36:21 GMT)

Mortgage Program Helps First Responders, Teachers
A relatively new mortgage program in New Mexico is giving safety, heath care, education and military workers help when financing their homes. Jenn Dombrowski Reports: HERO Program (Mon, 31 Mar 2008 02:59:44 GMT)

HUD recommends change in mortgage disclosures
New disclosure rules for mortgages should give consumers a clearer understanding of loan terms and closing costs. (Mon, 31 Mar 2008 04:30:26 GMT)

St George lifts home loan interest rate
St George Bank has lifted its variable home loan rate by 0.1 per cent to 9.47 per cent. (Mon, 31 Mar 2008 06:47:00 GMT)

St George lifts home loan interest rate
St George Bank has lifted its variable home loan rate by 0.1 per cent to 9.47 per cent. (Mon, 31 Mar 2008 06:47:00 GMT)

St George hikes home loans to 9.47%
St George Bank Ltd, Australia's fifth largest lender, has hiked its variable home loan rate by another 10 basis points to 9.47 per cent. (Mon, 31 Mar 2008 07:00:11 GMT)

St George hikes home loans to 9.47%
St George Bank Ltd, Australia's fifth largest lender, has hiked its variable home loan rate by another 10 basis points to 9.47 per cent. (Mon, 31 Mar 2008 07:00:11 GMT)

Mortgage-fraud plea expected Suspect in federal probe to appear today at rescheduled hearing
Frank Kartesz II, a key figure in the ongoing federal mortgage-fraud investigation in Erie, is expected to enter a guilty plea today in federal court on fraud and conspiracy charges. (Mon, 31 Mar 2008 07:03:35 GMT)

St George hikes home loans to 9.47%
St George Bank Ltd, Australia's fifth largest lender, has hiked its variable home loan rate by another 10 basis points to 9.47 per cent. Earlier this month St George lifted its rate by 35 basis points to 9.37 per cent. (Mon, 31 Mar 2008 07:04:24 GMT)

Fixing mortgage mess will be slow struggle
In the nearly four months since Treasury Secretary Henry Paulson challenged mortgage lenders to modify distressed home loans voluntarily to ease record numbers of foreclosures, it remains difficult to gauge the program's success. (Mon, 31 Mar 2008 07:13:20 GMT)

Mortgage mess: Who gets help and who pays?
The federal government is increasingly focused on how to resolve the US mortgage mess, but the effort means grappling with controversial issues of who should receive help and who will pay for it. (Mon, 31 Mar 2008 08:00:00 GMT)

St George lifts home loan rate again
ST George Bank has lifted its variable home loan rate well clear of its rivals with a hefty 10 basis point hike to 9.47 per cent. (Mon, 31 Mar 2008 08:25:10 GMT)

St George lifts home loan rate again
ST George Bank has lifted its variable home loan rate well clear of its rivals with a hefty 10 basis point hike to 9.47 per cent. (Mon, 31 Mar 2008 08:33:46 GMT)

Use home equity to pay off student debt
A home equity loan typically offers better terms than a student loan, says the College Money Guru. (Mon, 31 Mar 2008 10:00:00 GMT)

Mortgage loans rise slowest in 14 years
The annual increase in private-sector credit (PSC) of 15.6pc in February was the lowest since September 2003 as mortgage demand fell to its lowest rate of increase in 14 years, the latest data from the Central Bank showed today. (Mon, 31 Mar 2008 10:10:21 GMT)

Mortgage lending growth at 2002 levels
Figures from the Central Bank show that residential mortgage lending in February grew at an annual rate of 12.3% - the lowest in 14 years. The monthly increase of €712m was the lowest in five years. (Mon, 31 Mar 2008 10:28:29 GMT)

Mortgage review findings will help shape future of FSA regime
The Financial Services Authority (FSA) today published the findings of the second stage of its Mortgage Effectiveness Review, which focused on consumer experiences in the sub-prime and lifetime mortgage sectors of the market. (Mon, 31 Mar 2008 11:27:47 GMT)

In Philadelphia, Clinton calls for legal protections for honest mortgage lenders
PHILADELPHIA — Democrat Hillary Rodham Clinton proposed several remedies to the nation’s home mortgage problems Monday, including one tool more often associated with Republicans than Democrats. (Mon, 31 Mar 2008 11:38:03 GMT)

Kazakh govt sells stake in state mortgage company
ALMATY, March 31 - The Kazakh government sold a 10 percent stake in Kazakh Mortgage Co for 2.5 billion tenge on the stock market on Monday, the Kazakh Stock Exchange said. (Mon, 31 Mar 2008 12:32:58 GMT)

Kazakh govt sells stake in state mortgage company
ALMATY, March 31 - The Kazakh government sold a 10 percent stake in Kazakh Mortgage Co for 2.5 billion tenge on the stock market on Monday, the Kazakh Stock Exchange said. (Mon, 31 Mar 2008 12:32:58 GMT)

Wachovia mortgage program stirs concerns
The Charlotte-based bank has been rolling out these nontraditional loans at branches and mortgage offices around the country. (Mon, 31 Mar 2008 12:41:45 GMT)

BankSA lifts home loan rate
SOUTH Australia's largest mortgage provider, BankSA, has become the major bank with the highest variable home loan rate following an increase announced last night. (Mon, 31 Mar 2008 13:00:54 GMT)

Complex Wachovia mortgage program worries some 10:19 AM
CHARLOTTE, N.C. -- When she stopped by a Wachovia branch in Charlotte last month, Marilyn O'Connor asked about refinancing her townhome. Instead, she got a pitch for a "Pick-A-Payment" mortgage that offered flexible payment options but a higher interest rate. (Mon, 31 Mar 2008 14:35:50 GMT)

Complex Wachovia mortgage program worries some 10:19 AM
CHARLOTTE, N.C. -- When she stopped by a Wachovia branch in Charlotte last month, Marilyn O'Connor asked about refinancing her townhome. Instead, she got a pitch for a "Pick-A-Payment" mortgage that offered flexible payment options but a higher interest rate. (Mon, 31 Mar 2008 14:36:39 GMT)

1m pay rent or mortgage with credit card
Rising housing costs forced more than a million householders to use a credit card to pay their mortgage or rent over the past 12 months, a poll for the housing charity Shelter reveals today. (Mon, 31 Mar 2008 15:11:44 GMT)

Mortgage industry oversight to be beefed up under Bush plan
A new commission would be created to recommend minimum licensing standards for mortgage brokers. (Mon, 31 Mar 2008 15:13:27 GMT)

Paragon sees sharp mortgage fall
Paragon , the specialist buy-to-let mortgage lender, has estimated total advances for new mortgages for the first half will be about 50 per cent less than a year ago as it grapples with the credit crunch and its own financing issues. (Mon, 31 Mar 2008 16:59:50 GMT)

State acts against two mortgage brokers
The Division of Real Estate has taken enforcement actions against two Colorado mortgage brokers involved in an alleged mortgage fraud scheme in Denver, the Department of Regulatory Agencies said today. (Mon, 31 Mar 2008 17:43:16 GMT)

Britain's biggest buy-to-let mortgage provider will halve offers under credit crunch
The UK's biggest buy-to-let mortgage lender has claimed it expects advances to fall by 50 per cent in the next six months due to lending limitations. (Mon, 31 Mar 2008 17:55:38 GMT)

Posted March 31, 2008 - At a time when the nation is struggling with its most serious mortgage crisis in recent ...
At a time when the nation is struggling with its most serious mortgage crisis in recent memory, the Bush administration’s housing honcho has handed in his keys amid allegations that he rewarded fat real estate contracts to political buddies. (Mon, 31 Mar 2008 19:02:35 GMT)

Twin Cities mortgage lender is shut down
State financial regulators have shut down a large Twin Cities mortgage lender, accusing it broadly of "financial irresponsibility or incompetence." (Mon, 31 Mar 2008 20:05:03 GMT)

KKR Financial Announces Resolution of Mortgage-Backed Commercial Paper Refinancing Issue and Agreement to Sell REIT ...
KKR Financial Holdings LLC announced today that it has entered into an agreement with the holders of the secured liquidity notes, also known as commercial paper, issued by the two asset- backed conduits sponsored by KKR Financial Corp. . (Mon, 31 Mar 2008 20:41:00 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for First Quarter 2008
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco's Board of Directors has declared a dividend for the first quarter of 2008, to be determined in accordance with the Bank's Retained Earnings and Dividend Policy. (Mon, 31 Mar 2008 21:21:00 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for First Quarter 2008
The Federal Home Loan Bank of San Francisco´s Board of Directors has declared a dividend for (Mon, 31 Mar 2008 21:39:02 GMT)

KKR Financial to sell stake in REIT unit
PHILADELPHIA, March 31 - KKR Financial Holdings LLC , an affiliate of private equity firm Kohlberg Kravis Roberts & Co [KKR.UL ], said on Monday it would sell a controlling stake in its REIT subsidiary and refinance notes to complete its exit from the mortgage-related business. (Mon, 31 Mar 2008 21:41:59 GMT)

Federal Home Loan Bank of San Francisco Releases February 2008 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced March 31, 2008, that the 11th District Monthly Weighted Average Cost of Funds Index for February 2008 is 3.560%. (Mon, 31 Mar 2008 22:15:00 GMT)

Federal Home Loan Bank of San Francisco Releases February 2008 Cost of Funds Index
The Federal Home Loan Bank of San Francisco announced March 31, 2008, that the 11th District Monthly (Mon, 31 Mar 2008 22:36:11 GMT)

NSW 'taking lead' in mortgage industry regulation
The New South Wales Government says the state has taken the lead in developing a model for better regulation of the mortgage broking industry. (Mon, 31 Mar 2008 23:05:00 GMT)

NSW 'taking lead' in mortgage industry regulation
The New South Wales Government says the state has taken the lead in developing a model for better regulation of the mortgage broking industry. (Mon, 31 Mar 2008 23:05:00 GMT)

Survive the stock market: how to find a good mortgage
You'll have to move quickly if you want a good deal on a mortgage, suggests Myra Butterworth. (Mon, 31 Mar 2008 23:19:01 GMT)

Posted March 31, 2008 - At a time when the nation is struggling with its most serious mortgage crisis in recent ...
At a time when the nation is struggling with its most serious mortgage crisis in recent memory, the Bush administration’s housing honcho has handed in his keys amid allegations that he rewarded fat real estate contracts to political buddies. (Mon, 31 Mar 2008 23:32:22 GMT)

Mortgage lending growth hits a 14-year low
GROWTH in mortgage lending hit a 14-year low in February as the Irish property market continued to contract, according to new credit figures released yesterday by the Central Bank. (Mon, 31 Mar 2008 23:34:17 GMT)

R.I. congressional delegation backs more help for citizens
Members of Rhode Island’s congressional delegation yesterday said they support a further boost to the U.S. economy in the form of direct help with mortgage refinancing and additional benefits to American workers. (Mon, 31 Mar 2008 23:49:24 GMT)

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