Mortgage News May 2008
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Agire Mortgage Corporation Expands Team With Two Senior Hires
Agire Mortgage Corporation, a full service mortgage advisory and solution provider, today announced two new hires at the company as it continues to expand its presence and footprint in the mortgage industry. James Frischling has joined the company as Co-President and will run the newly formed New York office. Mr. (Thu, 01 May 2008 01:10:00 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? (Thu, 01 May 2008 02:07:13 GMT)
Trade groups oppose home appraisal change
A mandate to split the U.S. home loan and home appraisal industries would needlessly damage those sectors and endanger the two largest U.S. sources of mortgage finance, appraisal and lending trade groups said Wednesday. (Thu, 01 May 2008 02:27:59 GMT)
Federal Mortgage Plan Falls Short, Critics Say
Statistics show that most people who have refinanced are homeowners who make their payments on time, not borrowers in crisis. (Thu, 01 May 2008 02:37:28 GMT)
Abbey cuts some mortgage rates
Abbey is to reduce its rates for some mortgages, partly in response to the Bank of England’s liquidity scheme which will inject £50bn ($99bn) into the mortgage market. (Thu, 01 May 2008 03:11:25 GMT)
Colorado Springs mortgage broker accused of fraud
News First Investigates has learned state regulators are looking into complaints filed against a Colorado Springs mortgage broker. The complaints come from inside and outside the home loan industry and allege mortgage fraud. (Thu, 01 May 2008 03:55:49 GMT)
GMAC to Pay Record Yield on Australia Mortgage Bonds (Update1)
May 1 (Bloomberg) -- GMAC LLC , the U.S. auto and home-loan lender controlled by Cerberus Capital Management LP, is offering a record-high yield margin for the Australian market to sell mortgage-backed bonds, three people familiar with the deal said. (Thu, 01 May 2008 04:04:26 GMT)
GMAC to Pay Record Yield on Australia Mortgage Bonds (Update1)
May 1 (Bloomberg) -- GMAC LLC , the U.S. auto and home-loan lender controlled by Cerberus Capital Management LP, is offering a record-high yield margin for the Australian market to sell mortgage-backed bonds, three people familiar with the deal said. (Thu, 01 May 2008 04:15:21 GMT)
Prosecution, not talk can clean up some of mortgage mess
When Treasury Secretary Henry M. Paulson released the government's blueprint for overhauling the nation's financial regulatory structure, he promised to direct more attention toward the front-line people who arrange mortgage loans. (Thu, 01 May 2008 07:13:25 GMT)
Licensing could stem mortgage fraud
There are lots of proposed remedies to prevent another mortgage catastrophe like the one we're going through now. Most of the suggestions I've seen won't fix the loopholes that allowed so many borrowers to take on mortgage loans they couldn't afford. (Thu, 01 May 2008 07:26:25 GMT)
Emergency home-loan plan aimed at troubled borrowers
WASHINGTON - The government would give emergency loans to about a million troubled borrowers under a new housing-assistance plan developed by a federal bank regulator. (Thu, 01 May 2008 08:11:14 GMT)
Looking for the Keys that can unlock the mysteries of mortgage meltdown
Some Canadian home buyers are seeing a bright side to America's credit and subprime mortgage crisis: Their cost of borrowing has fallen. Borrowers willing to risk a variable interest rate have started to benefit from the determination of central banks to avert a recession in North America. (Thu, 01 May 2008 08:40:36 GMT)
Palm Harbor Homes Announces Sale of Loans by CountryPlace Mortgage
28/04/2008 16:16:00 Business Wire Palm Harbor Homes, Inc. (NASDAQ: PHHM) today announced that CountryPlace Mortgage, Ltd., the Company s full-service lending subsidiary, sold approximately $51.3 million of its $69.4 million warehoused portfolio of chattel and mortgage loans. (Thu, 01 May 2008 10:03:44 GMT)
Abbey trims some mortgage rates
LONDON (Reuters) - Abbey is trimming some fixed and flexible mortgage rates as it tries to lure new customers in the face of the credit crisis that has seen rivals retreat. (Thu, 01 May 2008 10:30:43 GMT)
Bankrate: Mortgage Rates Nudge Higher
Fixed mortgage rates inched upward for the third week in a row, with the average conforming 30-year fixed mortgage rate rising to 6.16 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.36 discount and origination points. (Thu, 01 May 2008 11:30:00 GMT)
Mortgage rates creep up again
Mortgage rates moved up modestly again this week. The benchmark 30-year fixed-rate mortgage increased 5 basis points, to 6.16 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 01 May 2008 11:36:20 GMT)
H&R Block closes sale of mortgage unit
H&R Block Inc. closed the sale of mortgage-loan servicing unit Option One to an affiliate of billionaire investor Wilbur Ross, the tax preparer said Thursday. (Thu, 01 May 2008 13:09:20 GMT)
Study Finds That Subprime Mortgage Crisis Has Spurred More Securities Lawsuits
WASHINGTON (AP) - The ongoing housing slump and subprime mortgage crisis have sent more unhappy shareholders to federal court. The number of securities class action suits filed last year increased to 163, up from 109 in 2006, according to a study released Tuesday by PricewaterhouseCoopers. (Thu, 01 May 2008 13:43:27 GMT)
(AFX UK Focus) 2008-05-01 14:26 H&R Block closes sale of mortgage loan servicing unit; repays debt
NEW YORK (Thomson Financial) - H&R Block Inc. Thursday said it closed the sale of its mortgage loan servicing unit to American Home Mortgage Servicing Inc., a unit of WL Ross & Co. (Thu, 01 May 2008 14:03:09 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Thu, 01 May 2008 14:24:25 GMT)
Mortgages: Mixed economic news keeps U.S. mortgage rates in check
Mortgage interest rates changed little this week due to mixed news of higher inflation and a weaker housing market, Freddie Mac’s chief economist said on Thursday. (Thu, 01 May 2008 15:08:50 GMT)
Mortgage Predators: Less Talk, More Action
We may be a long way from the right solutions to avoid another mortgage meltdown. But one thing officials can do now is prosecute those who have engaged in unlawful activities. (Thu, 01 May 2008 15:46:41 GMT)
Fitch: Loans & Mortgages Still Viable Tool for U.S. REITs As Access to Capital Continues
Many U.S. REITs continue to turn to the bank term loan and mortgage markets as attractive refinancing (Thu, 01 May 2008 16:48:08 GMT)
Fitch: Loans & Mortgages Still Viable Tool for U.S. REITs As Access to Capital Continues
Many U.S. REITs continue to turn to the bank term loan and mortgage markets as attractive refinancing vehicles for debt obligations despite the slowdown in the unsecured bond and CMBS markets, according to Fitch Ratings in its inaugural edition of the 'REIT Report Quarterly'. (Thu, 01 May 2008 16:57:35 GMT)
Eyman takes out mortgage to fund latest initiative
Initiative sponsor Tim Eyman has taken out a $250,000 mortgage on his Mukilteo home to help finance his latest campaign. (Thu, 01 May 2008 18:11:40 GMT)
Ready . . . Set . . . Refinance!
Are you itching with refi fever? It's as natural as it is contagious. Home mortgage rates hit a multiyear low back in February. It didn't help the housing market lift itself out of its slump. There are still way too many homes on the market for that to stabilize. (Thu, 01 May 2008 18:14:15 GMT)
Don't Wait: Mortgage Rates Unlikely To Go Any Lower
Thinking of buying a house? Mortgage rates may not go much lower than they are right now and are likely to start rising. And if you're looking to refinance your current mortgage, do it soon. (Thu, 01 May 2008 18:25:11 GMT)
Cheer up, home loan rates may go down
PSU banks believe they can absorb the increase in cost of funds. (Thu, 01 May 2008 18:42:44 GMT)
Fitch Affirms $172.5MM & Downgrades $116.4MM from 4 Finance America . Mortgage Loan Trust Deals
Mortgage Loan Trust Deals 28/04/2008 18:47:00 Business Wire Fitch Ratings has taken the following rating actions on Finance America Mortgage Loan Trust mortgage pass-through certificates. (Thu, 01 May 2008 18:48:24 GMT)
Lawmakers pass bill adding penalties for mortgage fraud
JEFFERSON CITY | Missouri lawmakers have approved the creation of a specific crime of mortgage fraud. (Thu, 01 May 2008 18:52:52 GMT)
Dems fend off mortgage bill challenges
A bill meant to help homeowners caught up in the spreading mortgage crisis received committee approval Thursday after Democrats fended off numerous Republican challenges to the bill. (Thu, 01 May 2008 20:02:14 GMT)
Emeritus Announces Refinance of Five Communities
SEATTLE----Emeritus Corporation , a national provider of assisted living and related services to senior citizens, announced today that it has closed on the refinance of $20.0 million in mortgage debt on five existing communities. (Thu, 01 May 2008 21:23:00 GMT)
Emeritus Announces Refinance of Five Communities
Emeritus Corporation (AMEX: ESC), a national provider of assisted living and related services to senior citizens, announced today that it has closed on the refinance of $20.0 million in mortgage debt on five existing communities. Three of the five communities were financed through Fannie Mae with a $25.4 million note at an annual fixed rate of 6.29% and a term of 10 years. The remaining two ... (Thu, 01 May 2008 21:42:56 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? (Thu, 01 May 2008 22:05:49 GMT)
House Committee Passes Mortgage Aid Plan
The House Financial Services Committee approved legislation that would make up to $300 billion in insured loans available to refinance the mortgages of borrowers in danger of foreclosure. (Thu, 01 May 2008 22:18:47 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, 02 May 2008 00:05:34 GMT)
Regulating mortgage brokers right step
WASHINGTON -- There are lots of proposed remedies to prevent another mortgage catastrophe like the one we're going through now. Most of the suggestions I've seen won't fix the loopholes that allowed so many borrowers to take on mortgage loans they couldn't afford. (Fri, 02 May 2008 00:17:24 GMT)
ANZ and National increase mortgage rates
ANZ and National Bank have again led the charge in increasing mortgage rates. (Fri, 02 May 2008 01:00:34 GMT)
Ex-Club Owner Pleads Guilty in Mortgage Scams
The former owner of a string of Washington area nightclubs and restaurants pleaded guilty yesterday to federal mail fraud and false-testimony charges relating to a series of real estate scams that netted him more than $3.8 million. (Fri, 02 May 2008 01:57:52 GMT)
Missouri lawmakers pass bill adding penalties for mortgage fraud
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers have approved the creation of a specific crime of mortgage fraud. (Fri, 02 May 2008 03:10:29 GMT)
Scripps issues million-dollar mortgage to lure scientist
The Scripps Research Institute has started issuing home loans to sought-after scientists, giving one top recruit a $1 million mortgage for an oceanfront condo that cost $850,000. (Fri, 02 May 2008 03:16:45 GMT)
Bank raises home loan rate
BENDIGO Bank has raised its variable home loan interest rate by 10 basis points, citing increased funding costs. (Fri, 02 May 2008 03:42:00 GMT)
Bank raises home loan rate
BENDIGO Bank has raised its variable home loan interest rate by 10 basis points, citing increased funding costs. (Fri, 02 May 2008 03:42:00 GMT)
Bank raises home loan rate
BENDIGO Bank has raised its variable home loan interest rate by 10 basis points, citing increased funding costs. (Fri, 02 May 2008 03:42:00 GMT)
Police: Man Stumbles Into Margate Mortgage Company After Stabbing
Authorities say a man stumbles into a mortgage company after being stabbed on the street in Margate. (Fri, 02 May 2008 04:01:09 GMT)
Bendigo Bank lifts variable loan by 0.1%
Bendigo Bank Ltd has raised its variable home loan interest rate by 10 basis points, citing increased funding costs. (Fri, 02 May 2008 04:12:12 GMT)
Bendigo Bank lifts variable loan by 0.1%
Bendigo Bank Ltd has raised its variable home loan interest rate by 10 basis points, citing increased funding costs. (Fri, 02 May 2008 04:12:12 GMT)
Bendigo Bank lifts variable loan by 0.1%
Bendigo Bank Ltd has raised its variable home loan interest rate by 10 basis points, citing increased funding costs. The new rate on Bendigo's variable home and business loans will take effect on May 6. (Fri, 02 May 2008 04:17:02 GMT)
Home-equity credit line one way to finance car
Q. I need to buy a new car and was wondering what would be more beneficial: Getting a home-equity loan or home-equity line of credit for approximately $25,000 at the average going rate, use the money to buy a car and deduct the interest from taxes, or pay cash for the car. (Fri, 02 May 2008 04:28:52 GMT)
Scripps issues million-dollar mortgage to lure scientist
The Scripps Research Institute has started issuing home loans to sought-after scientists, giving one top recruit a $1 million mortgage for an oceanfront condo that cost $850,000. (Fri, 02 May 2008 05:14:31 GMT)
Mortgage fraud could become a specific crime
Jefferson City -- Missouri lawmakers gave final approval Thursday to legislation that creates the specific crime of mortgage fraud. (Fri, 02 May 2008 08:01:00 GMT)
Simply Biz mortgage business up 20% for Q1
Simply Bizs mortgage lending is up 20 per cent in the first quarter of the year compared to the same period last year, despite a 50 per cent fall in the total mortgage market. ... (Fri, 02 May 2008 08:58:15 GMT)
Mortgage changes needed
Fri, May 2, 2008 (2:08 a.m.) Bankers, mortgage brokers and other members of the housing industry are resisting the Federal Reserve’s effort to craft stricter lending controls. (Fri, 02 May 2008 09:11:45 GMT)
Mortgage rates cut by Abbey
One of the UK's biggest lenders has announced it is cutting some of its mortgage rates. Abbey said the move, which comes into effect on Friday, is being made in anticipation of the interbank lending rate Libor coming down over time in response to the Bank of England's £50 billion liquidity scheme. (Fri, 02 May 2008 12:08:50 GMT)
O.T.C. EXPT: Expert Financing and The Small Business Administration (SBA) Offer Small Business Loans
Expert Group, Inc., specializing in refinance loans, home mortgage loans, and new home purchases as well as foreign national loans, and now offering a range of credit repair services through its sister company, Expert Credit Fix USA, Expert Financing is proud to announce that effective immediately we are offering Small Business Administration real estate loans. (Fri, 02 May 2008 13:00:00 GMT)
Investing: Can UBS win back trust after mortgage losses?
After enormous write-downs because of bad investments in mortgage-backed securities, UBS seems to be past the worst. But will its trading follies affect its private-banking business? (Fri, 02 May 2008 15:28:15 GMT)
Home Valley Bancorp Reports 1st Quarter, 2008 Results
29/04/2008 20:46:00 Business Wire Home Valley Bancorp (Company) (OTCBB:HVYB), the parent company of Home Valley Bank, announced today that it will take an additional provision for loan losses in the 1st-quarter for the impairment of a group of loans that is part of a $2.8 million relationship. (Fri, 02 May 2008 15:48:44 GMT)
Mo. lawmakers pass bill adding penalties for mortgage fraud
Missouri lawmakers gave final approval Thursday to legislation that creates the specific crime of mortgage fraud. The legislation defines mortgage fraud as making false statements or failing to disclose material facts. (Fri, 02 May 2008 15:51:50 GMT)
Triad and Lightyear in talks to create mortgage insurer
Triad Guaranty Inc. said Friday it is negotiating with New York-based private equity firm Lightyear Capital LLC to create a new mortgage insurance company. (Fri, 02 May 2008 16:48:02 GMT)
Regulating mortgage brokers right step
WASHINGTON -- There are lots of proposed remedies to prevent another mortgage catastrophe like the one we're going through now. Most of the suggestions I've seen won't fix the loopholes that allowed so many borrowers to take on mortgage loans they couldn't afford. (Fri, 02 May 2008 17:05:40 GMT)
Does the Great Depression Hold the Answers for the Current Mortgage Distress?
While the nation's current level of mortgage distress seems reminiscent of the Great Depression, a closer examination reveals the underlying causes are far from similar, according to an economic analysis from the Federal Reserve Bank of St. (Fri, 02 May 2008 17:06:00 GMT)
Lawmakers pass bill adding penalties for mortgage fraud
JEFFERSON CITY, Mo. — Missouri lawmakers gave final approval Thursday to legislation that creates the specific crime of mortgage fraud. (Fri, 02 May 2008 17:11:21 GMT)
U of I law prof testifies on mortgage crisis before U.S. Senate
University of Iowa law professor Katie Porter will appear before a U.S. Senate subcommittee next week to discuss her research about questionable fees and charges that mortgage creditors charged homebuyers during home foreclosures or bankruptcy cases. (Fri, 02 May 2008 17:30:22 GMT)
Some in rental market experiencing increase due to mortgage crisis
While much of the country continues to struggle with lingering economic effects resulting from the home mortgage crisis, a tangential silver lining may be witnessed in one segment of the housing equation. (Fri, 02 May 2008 17:56:44 GMT)
Online mortgage service not secure
The Florida Attorney General's office has warned customers that there has been a breach of security at LendingTree, the online mortgage service, and that customers' personal and financial information may have wound up in the wrong hands. (Fri, 02 May 2008 18:08:48 GMT)
Equity cash out at 4-year low, lender says
Home equity cashed out during refinancing, in the first quarter, dropped to the lowest level in four years, a report issued Friday said.The Federal Home Loan Mortgage Corp. deputy chief Amy Crews Cutts said the $29 billion in home equity cashed out was a drop from the fourth quarter 2007 figure of $36 billion and about one-third of the level from a year ago.Frank Nothaft, Freddie Mac's chief ... (Fri, 02 May 2008 18:10:05 GMT)
Equity cash out at 4-year low, lender says
WASHINGTON, May 2 (UPI) -- Home equity cashed out during refinancing, in the first quarter, dropped to the lowest level in four years, a report issued Friday said. (Fri, 02 May 2008 18:12:19 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 02 May 2008 19:35:25 GMT)
Cash-out refinancing loans shrink sharply
The percentage of homeowners who refinanced with a Freddie Mac-owned loan in the first quarter of 2008 and received mortgages with loan amounts higher than their original mortgages, fell to the lowest levels since early 2004. (Fri, 02 May 2008 19:47:04 GMT)
Mortgage plans boon or bust for U.S. govt -Citi
Congressional proposals aimed at refinancing distressed mortgages could be a boon or bust for the U.S. government depending on the recidivism of delinquent homeowners and the rates they pay on their loans, (Fri, 02 May 2008 20:02:11 GMT)
Restrictions Are the Rule For All Sorts of Once-Easy Credit
Like a spreading infection, restrictions on credit are moving into new and more specialized niches of the mortgage market. (Fri, 02 May 2008 20:21:50 GMT)
The Zoo has giraffe on loan for breeding
GULF BREEZE — A long-necked visitor who likes to eat leaves will have a temporary home in the area. The Zoo Northwest Florida has received a 12-year-old male giraffe named Colby. Colby is 18 feet tall and weighs about 2,000 pounds, according to a news release. Colby is on loan from a zoo in South Florida for a breeding program, the release stated. Special to the Daily News Colby, an ... (Fri, 02 May 2008 22:20:29 GMT)
Britain's biggest mortgage lender Halifax bans new customers from taking out a standard variable rate mortgage
Britain's biggest mortgage lender is banning all new customers from taking out a standard variable rate mortgage from today. The move by the Halifax is the first time a lender has barred new customers in such a dramatic way (Fri, 02 May 2008 22:34:21 GMT)
Federal Home Loan Bank of San Francisco Reports First Quarter Operating Results
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today announced that its first quarter 2008 net income rose $98 million, or 69%, to $240 million from $142 million in the first quarter of 2007. (Fri, 02 May 2008 22:59:00 GMT)
Federal Home Loan Bank of San Francisco Reports First Quarter Operating Results
The Federal Home Loan Bank of San Francisco today announced that its first quarter 2008 net income (Fri, 02 May 2008 23:17:16 GMT)
KEY Assignment: Mortgage Languages
The mortgage crisis is hitting the minority population particularly hard. A few years ago there was a boom in the number of Latino home buyers who were realizing the American dream. Why has that dream now turned into a nightmare for so many? and what's being done to halt the number of foreclosures? (Fri, 02 May 2008 23:48:20 GMT)
H&R Block closes sale of Option One Mortgage servicing business
H&R Block, a financial services company, has closed the sale of the mortgage loan servicing business of its Option One Mortgage subsidiary to American Home Mortgage Servicing, an affiliate of WL Ross. (Sat, 03 May 2008 01:27:35 GMT)
Regulating mortgage brokers right step
T here are lots of proposed remedies to prevent another mortgage catastrophe like the one we're going through now. Most of the suggestions I've seen won't fix the loopholes that allowed so many borrowers to take on mortgage loans they couldn't afford. (Sat, 03 May 2008 02:03:04 GMT)
Mortgage-Free, but Not Free From the Temptation to Borrow
For those people who own their homes mortgage-free, the question is what to do with a houseful of equity. (Sat, 03 May 2008 02:27:56 GMT)
Guilty Plea In Mortgage Fraud Scheme
A Cincinnati man has pleaded guilty in a mortgage fraud scheme. Investigators say Steven Gittinger admitted to conspiracy to commit bank fraud and money laundering charges. (Sat, 03 May 2008 03:01:33 GMT)
30-year mortgage rates creep up
WASHINGTON - Rates on 30-year mortgages remained above 6 percent, edging up to the highest level in seven weeks and reflecting continued financial market concerns about inflation. (Sat, 03 May 2008 04:05:43 GMT)
Quitclaim doesn't change mortgage
Q: If someone does a quitclaim, how long does it take for you to completely be on the loan and the other party is off the loan? I think you may be a little confused about what a quitclaim deed is and what it does with regard to the mortgage. A quitclaim deed transfers any interest a person has in a piece of real estate to another person. I could give you a quitclaim deed to the Brooklyn ... (Sat, 03 May 2008 06:07:16 GMT)
Aussie Treasurer threat over high mortgage exit fees - community blog from Dean Procter
The Australian government is threatening to enact new banking legislation to lower mortgage exit fees and make it easier for mortgagees to switch lenders. Australia has the worlds highest exit fees with some lenders charging $7500. (Sat, 03 May 2008 08:33:32 GMT)
State yanks Cedar Funding's mortgage fund permit
State regulators suspended the permit for a $71 million mortgage fund run by a Monterey real estate investment company, while some investors sued for a receiver to take over the fund from Cedar Funding Inc. (Sat, 03 May 2008 08:47:47 GMT)
Mortgage-market credit restrictions expand
Like a spreading infection, restrictions on credit are moving into new and more specialized niches of the mortgage market. (Sat, 03 May 2008 09:20:02 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, 03 May 2008 09:54:35 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, 03 May 2008 12:22:30 GMT)
Mortgage Survivors
Zena Collins knew she had a serious problem when she could no longer afford electricity. (Sat, 03 May 2008 12:32:19 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Sat, 03 May 2008 13:07:16 GMT)
Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Sat, 03 May 2008 13:22:17 GMT)
Say goodbye to the specialized mortgage options
Washington Post Writers Group (Sat, 03 May 2008 17:04:25 GMT)
Buffett embraces Erica Kane, mocks mortgage mess
It's part of Warren Buffett's job not just to answer questions from many of the 31,000 people at the annual meeting of Berkshire Hathaway Inc. He also has to entertain. (Sat, 03 May 2008 18:27:13 GMT)
Mortgage-Free, but Not Free From the Temptation to Borrow
For those people who own their homes mortgage-free, the question is what to do with a houseful of equity. (Sat, 03 May 2008 19:38:01 GMT)
Heavy mortgage stresses keeping householders awake at night
Nearly half of people with a mortgage say the repayments take between 25 and 50 per cent of their household income, and a further 22 per cent are paying even more. (Sat, 03 May 2008 20:31:53 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sat, 03 May 2008 21:12:09 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, 03 May 2008 21:14:00 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sat, 03 May 2008 21:14:20 GMT)
Under pressure from South Florida homeowners, House to act on mortgage crisis
Pressed by desperate homeowners in South Florida, members of Congress are promoting legislation to try to stem the tide of home Foreclosure s and prevent further erosion of property values. (Sun, 04 May 2008 04:06:53 GMT)
'Broken' mortgage process seems to still be fractured
When Treasury Secretary Henry M. Paulson released the government's blueprint for overhauling the nation's financial regulatory structure, he promised to direct more attention toward the front-line people who arrange mortgage loans. (Sun, 04 May 2008 05:07:01 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? (Sun, 04 May 2008 05:28:57 GMT)
Supervisor avoids battle over $10G loan
CARMEL - The town supervisor seems to have avoided a court battle over an unpaid $10,000 loan from a Mahopac resident, a contractor and investor who has political aspirations. (Sun, 04 May 2008 06:39:24 GMT)
Michelle Singletary: Industry will benefit from quick adoption of mortgage license registry
There are lots of proposals to prevent another mortgage catastrophe like the one we're going through now. But one solution may help stem fraud in the mortgage industry, and it could reduce the number of unscrupulous or unlicensed brokers and loan officers who move from state to state preying on borrowers. (Sun, 04 May 2008 06:46:25 GMT)
Taking a swipe at better credit
People used to obsess over frequent-flier miles. Now, with lending standards getting tighter, they're applying similar energy to improving their credit scores. Jeffrey Sheldon, a 36-year-old Purcellville, Va., computer-systems administrator, has an enviable credit score of about 740. But he's planning to refinance his adjustable-rate mortgage in June and knows that lenders will be taking a ... (Sun, 04 May 2008 07:06:23 GMT)
Credit crunch expands to cash-out refinancing, investment properties and vacation homes
New policies change the ground rules for cash-out refinancings, investment properties and vacation homes. WASHINGTON -- Like a spreading infection, restrictions on credit are moving into more specialized niches of the mortgage market. (Sun, 04 May 2008 07:19:45 GMT)
Sikku, the One Stop Shop Real Estate and Mortgage Portal Wins Top Industry Endorsement
A powerful new platform that streamlines and combines every facet of a real estate transaction under one roof, where both consumers and mortgage/real estate professionals can not only effectively interact, but transact business in the real world. (PRWeb May 4, 2008) Read the full story at http://www.prweb.com/releases/2008/05/prweb912914.htm (Sun, 04 May 2008 07:20:00 GMT)
Tight credit hitting specialized areas of mortgage market
Like a spreading infection, restrictions on credit are moving into new and more specialized niches of the mortgage market. The latest to feel the pinch: - Cash-out refinancings. - Loans with anything less than full documentation of borrower... (Sun, 04 May 2008 07:20:31 GMT)
Mortgage credit restrictions spreading further
Kenneth Harney -- Nation's Housing Like a spreading infection, restrictions on credit are moving into new and more specialized niches of the mortgage market. (Sun, 04 May 2008 07:45:22 GMT)
Investors intervening to save mortgages
Struggling to pay a home loan on which he owed more than his house was worth, Jared Lanning was thinking he might just let the lender take back the property. Then he got a call one evening from an investor who had bought his mortgage. (Sun, 04 May 2008 07:59:32 GMT)
Mortgage assistance helps 503,000
Hope Now arranged for the loan workouts in first quarter of year. More than a half-million U.S. households recieved mortgage assistance in the first three months of 2008, though most of the help was temporary, a mortgage industry group said. (Sun, 04 May 2008 08:14:03 GMT)
Peter Boutell, Lending a Hand: FHA provides refreshing mortgage options
The Federal Housing Administration is the world's largest mortgage insurer. Selected and approved banks and mortgage companies originate, approve, fund and service FHA loans. (Sun, 04 May 2008 08:45:02 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, 04 May 2008 09:00:51 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sun, 04 May 2008 09:24:26 GMT)
Is adding mortgage oversight an answer?
When Treasury Secretary Henry M. Paulson released the government's blueprint for overhauling the nation's financial regulatory structure, he promised to direct more attention to the front-line people who arrange mortgage loans. "Simply put, that process was broken," Paulson said. (Sun, 04 May 2008 09:47:26 GMT)
The Color of Money: Registry could curb mortgage fraud
There are lots of proposed remedies to prevent another mortgage catastrophe like the one we're going through now. Most of the suggestions I've seen won't fix the loopholes that allowed so many borrowers to take on mortgage loans they couldn't afford. (Sun, 04 May 2008 09:59:38 GMT)
Under pressure from South Florida homeowners, House to act on mortgage crisis
Pressed by desperate homeowners in South Florida, members of Congress are promoting legislation to try to stem the tide of home Foreclosure s and prevent further erosion of property values. (Sun, 04 May 2008 10:06:06 GMT)
Mortgage rates stay above 6%
WASHINGTON – Rates on 30-year edged up to the highest level in seven weeks and reflecting continued financial market concerns about inflation. (Sun, 04 May 2008 10:09:04 GMT)
Taking a swipe at better credit
People used to obsess over frequent-flier miles. Now, with lending standards getting tighter, they're applying similar energy to improving their credit scores. Jeffrey Sheldon, a 36-year-old Purcellville, Va., computer-systems administrator, has an enviable credit score of about 740. But he's planning to refinance his adjustable-rate mortgage in June and knows that lenders will be taking a ... (Sun, 04 May 2008 12:10:44 GMT)
State battles mortgage squeeze
THE battler belt of Hobart is among the most susceptible in Tasmania to the current mortgage crisis squeeze, with many struggling with loan repayments. (Sun, 04 May 2008 14:00:00 GMT)
Home Equity Basics
(ARA) - Purchasing a home is a huge event in anyone's life. It's an investment that, over time, will yield you a significant profit. As the years progress, the value of your home will increase. (Sun, 04 May 2008 14:10:05 GMT)
BOS sues couple over $101,156 loan
Bank of Saipan Inc. has sued a couple for allegedly failing to pay a $101,156.59 loan. BOS, through counsel S. Joshua Berger, asked the Superior Court to order Jung Eun Teack and his wife Mi Soon Jung Jeon to pay the amount plus accruing interest, court costs, and attorney's fees. (Sun, 04 May 2008 14:10:18 GMT)
Five Questions About the Mortgage Crisis
Terry Savage wonders why Greenspan is surprised -- and whether property taxes will go down. (Sun, 04 May 2008 14:47:04 GMT)
Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sun, 04 May 2008 18:07:03 GMT)
Government Intensifies Mortgage Investigation
The F.B.I. and the criminal unit of the I.R.S. have formed a task force to examine mortgages made with little or no proof of borrowers? earnings or assets, an official said. (Sun, 04 May 2008 21:27:46 GMT)
Gordon Brown adviser Stephen Nickell fears 'mortgage rationing'
Britain is now facing widespread "mortgage rationing" which threatens to keep thousands of would-be homeowners from taking their place on the property ladder, a leading adviser to Gordon Brown has warned. (Sun, 04 May 2008 23:38:29 GMT)
Mortgage brokers attack lenders
Britain's mortgage brokers have launched a war against the nation's high-street banks, complaining to the Financial Services Authority and the Office of Fair Trading following recent attempts by lenders to reduce the amount of business coming to them through the intermediary market. (Mon, 05 May 2008 00:27:18 GMT)
Investing through a home equity loan
Q. I have recently purchased a home that has a mortgage of $500,000. I got the deposit together from the proceeds of investments with a margin loan. (Mon, 05 May 2008 01:12:35 GMT)
U.S. steps up mortgage industry probe
WASHINGTON, May 4 (UPI) -- Federal investigators are stepping up their probe of U.S. mortgage industry practices, The New York Times reported Sunday. (Mon, 05 May 2008 02:27:18 GMT)
U.S. steps up mortgage industry probe
Federal investigators are stepping up their probe of U.S. mortgage industry practices, The New York Times reported Sunday.Citing a government official who had been briefed on the matter, the newspaper said investigators are focusing on whether lenders ignored exaggerated income figures provided by applicants for home loans.The FBI and the criminal division of the Internal Revenue Service have ... (Mon, 05 May 2008 02:40:05 GMT)
Government Intensifies Mortgage Investigation
The F.B.I. and the I.R.S. are said to be investigating whether some mortgage lenders turned a blind eye when prospective borrowers used inflated income figures. (Mon, 05 May 2008 03:37:03 GMT)
High-end borrowers feeling credit pinch
DALLAS — For months, mortgage lenders have been backing away from borrowers with spotty credit, all but closing down the so-called subprime mortgage market. (Mon, 05 May 2008 03:41:42 GMT)
Mortgage investors seek balance
Jared Lanning, struggling to pay a home loan on which he owed more than his house was worth, was thinking he might just let the lender take back the property. Then he got a call one evening from an investor who had bought his mortgage. (Mon, 05 May 2008 05:04:20 GMT)
Wells tiptoes back into wholesale mortgage biz
A hint of normalcy wafted through the mortgage market recently when Wells Fargo said it was committed to financing loans through third-party channels. (Mon, 05 May 2008 05:14:50 GMT)
Wells Fargo hires group of loan consultants from WaMu in downtown Seattle
Wells Fargo Home Mortgage is hiring all 27 loan consultants working in Washington Mutual's downtown Seattle home loan center and plans to open a separate office to house them, according to a WaMu loan consultant who is part of the newly hired group. (Mon, 05 May 2008 05:15:20 GMT)
First-time home buyers program renewed
First-time home buyers have an opportunity to get a lower interest rate on a mortgage following the renewal of Belleville's participation in a lending program operated out of Aurora. (Mon, 05 May 2008 06:11:13 GMT)
SUBPRIME LENDING & FORECLOSURES
Homeowners around the nation are struggling to make mortgage payments, and Frederick County is no exception. The map below show the area with the lowest and highest concentration of subprime mortgage loans. Click the map for a larger image. (Mon, 05 May 2008 06:13:39 GMT)
Investors buy loans, work to help homeowners stay
Jared Lanning, struggling to pay a home loan on which he owed more than his house was worth, was thinking he might just let the lender take back the property. Then he got a call one evening from an investor who had bought his mortgage. (Mon, 05 May 2008 07:12:28 GMT)
Mortgage industry focus of feds' probe
Federal agencies are intensifying a criminal investigation of the mortgage industry and focusing on whether some lenders turned a blind... (Mon, 05 May 2008 07:20:02 GMT)
Loan issues top agenda in Springfield
SPRINGFIELD - The ramifications of ward representation and an extension request to the state regarding a $52 million loan will be discussed at City Hall this week. (Mon, 05 May 2008 07:34:32 GMT)
MetLife unveils 'loan assure' for J&K Bank customers
SRINAGAR: MetLife India Insurance Company, one of the country's fastest growing life insurance firms, on Monday introduced here a 'Loan Assure' scheme that would provide life cover to J&K Bank's loan customers. (Mon, 05 May 2008 09:02:38 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Mon, 05 May 2008 09:24:25 GMT)
Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Mon, 05 May 2008 09:55:45 GMT)
Using an IRA for home closing costs
You can avoid the penalty and some of the taxes on an IRA withdrawal if it is used for a first-time home purchase, says CPA George Saenz. (Mon, 05 May 2008 10:00:00 GMT)
Another Player in Solon Mortgage Fraud Faces Sentencing (Monday, May 5)
A mortgage broker faces sentencing in Cuyahoga County Common Pleas Court today for his role in a mortgage fraud scheme in Solon. Solon police have been investigating nearly 4 dozen property transactions for fraud. Ideastream's Mhari Saito reports. (Mon, 05 May 2008 10:12:53 GMT)
Biggest U.S. Mortgage Lenders
First quarter mortgage originations tumbled from a year earlier but were better than the fourth quarter, according to an analysis of earnings data by http://www.MortgageDaily.com. (Mon, 05 May 2008 11:00:00 GMT)
Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Mon, 05 May 2008 11:07:04 GMT)
Government Intensifies Mortgage Investigation
The F.B.I. and the I.R.S. are said to be investigating whether some mortgage lenders turned a blind eye when prospective borrowers used inflated income figures. (Mon, 05 May 2008 11:36:58 GMT)
Home sales slowest in 5 years
For an archive of all growth and development stories, the latest news on annexation projects in Las Cruces, plus extra documents and helpful links, visit our Growth and Development section under the "News" tab on the home page. (Mon, 05 May 2008 11:49:46 GMT)
Feds intensify probe of mortgage industry
Federal agencies are intensifying a criminal investigation of the mortgage industry and focusing on whether some lenders turned a blind eye to inflated income figures provided by borrowers. The FBI and the criminal division of the Internal Revenue Service have formed a task force to examine mortgages that were made with little or no proof of borrowers' earnings or assets, a government official ... (Mon, 05 May 2008 12:07:22 GMT)
Auto Loan Refinance to Reduce Monthly Payments
(ARA) - If high gas prices coupled with a big monthly car payment have you thinking that it might be time to trade in your truck or SUV, you'll be happy to know there is an alternative. (Mon, 05 May 2008 12:27:16 GMT)
Banks' home loans crackdown
EXCLUSIVE: GETTING a mortgage for a home has just got harder with banks and non-bank lenders secretly tighten rules on who qualifies for a home loan. (Mon, 05 May 2008 14:00:00 GMT)
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