Mortgage News May 2008

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Housing market primed for mortgage fraud
Subprime loans, which dramatically increased after 2003, are a considerable factor influencing mortgage fraud due to their higher failure rate, according to the FBI's 2007 mortgage fraud report. (Fri, 16 May 2008 21:43:33 GMT)

Mortgage Lenders seeks more time to negotiate plan
Mortgage Lenders Network USA Inc. says its needs more time to negotiate a Chapter 11 plan so it can work out a deal with its largest secured creditor, GMAC's Residential Funding Co. (Fri, 16 May 2008 21:55:03 GMT)

Hovnanian Humbled By Lack Of Housing
The home builder looks to refinance its debt. (Fri, 16 May 2008 23:22:20 GMT)

11 indicted in Mass. mortgage fraud scheme
Federal authorities say 11 people are facing charges for allegedly obtaining more than $10 million in fraudulent mortgage loans for properties in the Boston area. (Sat, 17 May 2008 00:01:15 GMT)

Congress debates aid package for homeowners
Despite a threatened veto, the House on Wednesday debated a broad housing package intended to help hundreds of thousands of troubled homeowners refinance into cheaper mortgages and provide tax breaks for first-time buyers. (Sat, 17 May 2008 00:36:33 GMT)

Comparing mortgage payments
COMPARING MORTGAGE PAYMENTS Here's a scenario that shows what a borrower's monthly mortgage payments would have been if he or she had taken out a 30-year fixed rate mortgage of $500,000 last month when a typical rate was 7 percent, compared to what the borrower would pay if he or she got that (Sat, 17 May 2008 01:01:38 GMT)

Jackson Loan Deal Sparks Vegas Show Rumours
Rumours about a possible MICHAEL JACKSON Las Vegas spectacular have hit fever pitch after revelations the loan on the pop superstar's Neverland Ranch home has been bought by a ... (Sat, 17 May 2008 01:05:12 GMT)

11 Indicted In Large Scale Mortgage Fraud Ring
Eleven people have been indicted in a mortgage fraud scheme that netted at least $1.7 million in profits, federal authorities said Friday. (Sat, 17 May 2008 03:15:59 GMT)

Brockton man one of 11 indicted in a mortgage fraud scheme
Widner LaMarre, 34, of 37 Claremount Ave., Brockton, was indicted on one count of conspiracy to commit wire fraud and 18 counts of wire fraud. He is one of 11 people indicted in a multi-million dollar mortgage fraud in the state. (Sat, 17 May 2008 03:45:32 GMT)

11 arrested in mortgage fraud scam
An 11-member ring of Boston lawyers, mortgage brokers and others stole identities, inflated home prices and more to swindle lenders out of nearly $2 million, prosecutors say. ... (Sat, 17 May 2008 04:27:32 GMT)

Churches take on mortgage woes
Pastors arranging assistance for people who are in danger of losing their homes NEW YORK -- Embracing the religious tradition of helping the poor, pastors around the nation are doubling as financial shepherds for their mortgage-distressed flocks.On a recent Sunday morning the Rev. Jeffry Dillon switched from the religious to the secular to ask his parishioners a pointed question: "Do subprime ... (Sat, 17 May 2008 07:09:50 GMT)

Mortgage fraud cases on rise: FBI
WASHINGTON–The FBI has more than 200 agents and 33 task forces addressing mortgage fraud, has more than 1,300 cases under investigation and has targeted 19 large companies, FBI Director Robert Mueller said yesterday. (Sat, 17 May 2008 08:43:36 GMT)

At last! Mortgage rate relief arrives
Months after many eager homeowners started gearing up to refinance their mortgages, interest rates for Bay Area-size mortgages are finally falling. (Sat, 17 May 2008 08:50:52 GMT)

Why do I need mortgage insurance?
A: Private mortgage insurance, also known as PMI, is often required if your down payment is less than 20 percent of the home's purchase price. As the value of your home rises and you pay down some of the loan amount, your equity may surpass 20 percent of its value. In that case, you can apply to drop the insurance coverage. (Sat, 17 May 2008 08:51:36 GMT)

Comparing mortgage payments
COMPARING MORTGAGE PAYMENTS Here's a scenario that shows what a borrower's monthly mortgage payments would have been if he or she had taken out a 30-year fixed-rate mortgage of $500,000 last month when a typical rate was 7 percent, compared with what the borrower would pay if he or she got (Sat, 17 May 2008 09:00:44 GMT)

Sunrise: City offers residents loans for home improvements
City residents are invited to apply for a five-year deferred payment loan for home improvements. (Sat, 17 May 2008 09:52:16 GMT)

Bank restates no upper limit on mortgage swap plan
The Bank of England reiterated on Friday its mortgage swap plan has no upper limit and refused to forecast any final total after media said banks could exchange assets worth well above the estimate of initial demand (Sat, 17 May 2008 10:19:39 GMT)

Jackson loan deal sparks Vegas show rumours
Rumours about a possible Michael Jackson Las Vegas spectacular have hit fever pitch after revelations the loan on the pop superstar's Neverland Ranch home has been bought by a Sin City heavyweight. (Sat, 17 May 2008 10:30:05 GMT)

Mortgage lender charged with fraud
A former Bucks County prosecutor has been charged with defrauding mortgage customers. He has pleaded guilty to similar crimes twice before. (Sat, 17 May 2008 11:38:31 GMT)

Mortgage rates mostly lower
WASHINGTON — Rates on 30-year mortgages edged down this week to their lowest point in a month, a spot of welcome news to would-be home buyers. Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.01 percent for the week ended Thursday. (Sat, 17 May 2008 12:34:01 GMT)

Is it time for refinancing yet?
Refinancing, is it time yet? An oft-quoted rule of thumb is that a borrower should consider refinancing if interest rates fall more than two percent below the original rate. This rule of thumb is really too simplistic to have much meaning. (Sat, 17 May 2008 13:51:46 GMT)

Officer pleads guilty to bank fraud :Was involved in mortgage loan scam involving 190 houses.
SOUTH BEND -- A South Bend police officer has admitted to a mortgage loan scam that involved 190 houses in the South Bend area and bilked lenders out of hundreds of thousands of dollars. (Sat, 17 May 2008 15:08:06 GMT)

Leadership lessons from the mortgage mess
DRIVE through the typical American neighborhood these days, and you will see disturbing signs of the housing collapse. Whether advertising homes for sale or foreclosures, these signs stand as evidence of leadership failures in the mortgage market. (Sat, 17 May 2008 17:05:16 GMT)

Officer charged in mortgage loan scam
SOUTH BEND, Ind. — A veteran police officer has pleaded guilty to federal bank fraud charges for his role in an elaborate mortgage fraud scheme that bilked lenders out of hundreds of thousands of dollars. (Sat, 17 May 2008 18:37:04 GMT)

Officer charged in mortgage loan scam
SOUTH BEND, Ind. (AP) - A veteran police officer has pleaded guilty to bank fraud for his role in an elaborate mortgage fraud scheme that bilked lenders out of hundreds of thousands of dollars. (Sat, 17 May 2008 19:44:32 GMT)

Officer charged in mortgage loan scam
Associated Press - May 17, 2008 3:34 PM ET SOUTH BEND, Ind. (AP) - A veteran police officer has pleaded guilty to bank fraud for his role in an elaborate mortgage fraud scheme that bilked... (Sat, 17 May 2008 19:49:44 GMT)

Getting Easier to Get Big Loans
The gears of the mortgage market are starting to unlock for borrowers needing big loans. In expensive markets such as Washington, that covers most people looking to refinance or move up from an entry-level home. (Sat, 17 May 2008 21:27:41 GMT)

Officer charged in mortgage loan scam
A veteran police officer has pleaded guilty to federal bank fraud charges for his role in an elaborate mortgage fraud scheme that bilked lenders out of hundreds of thousands of dollars. (Sat, 17 May 2008 21:38:27 GMT)

Police officer charged in mortgage loan scam
A veteran police officer has pleaded guilty to bank fraud for his role in an elaborate mortgage fraud scheme that bilked lenders out of hundreds of thousands of dollars. (Sat, 17 May 2008 22:05:45 GMT)

The added stress of a mortgage holiday
Taking a holiday from your mortgage may seem appealing but a payment break of just three months can add years and thousands of dollars to a borrower's loan. (Sat, 17 May 2008 23:15:18 GMT)

Database: Search foreclosures filings in Oshkosh
Use this search tool to explore foreclosure filings by entering all or part of an owners name or address, by year of purchase or by mortgage company. To see the full list, select all in the mortgage company dropdown box. The cases in this database include cases in which a bank repossessed a property, those in which a property owner prevented foreclosure by refinancing the debt or becoming ... (Sun, 18 May 2008 03:24:48 GMT)

What to do if you're in over your head with mortgage payments
Falling behind on mortgage payments can be frightening and embarrassing. But it isn't the kind of problem that will go away without help, hard work and setting priorities. Here are some tips: (Sun, 18 May 2008 04:52:47 GMT)

Ask the experts: What can we learn from the subprime mortgage mess?
The collapse of the subprime mortgage market and the jitters it's sending through the entire economy contain lessons for us all. Here are a few: If it sounds too good to be true, it probably is. (Sun, 18 May 2008 05:09:01 GMT)

Nationwide Mortgage Licensing System should help stem fraud in the industry
There are lots of proposed remedies to prevent another mortgage catastrophe like the one we are going through now. Most of the suggestions I have seen won't fix the loopholes that allowed so many borrowers to take on mortgage loans they couldn't afford. (Sun, 18 May 2008 05:14:33 GMT)

Refinance of loan depends on rate
Today on the front page of the Beacon Journal, Home reporter Mary Beth Breckenridge and I start a two-part series on how to buy your first home. It was designed as a primer for people who might find in a period of high housing inventory and low mortgage rates, that it's the right time to buy a home. (Sun, 18 May 2008 06:08:19 GMT)

Finding a lender you can trust first step in getting mortgage
So you've figured out that you can afford to buy a house. Now what? Should you find your realty agent first or your mortgage lender? (Sun, 18 May 2008 06:08:37 GMT)

Refinance of loan depends on rate
Today on the front page of the Beacon Journal, Home reporter Mary Beth Breckenridge and I start a two-part series on how to buy your first home. It was designed as a primer for people who might find in a period of high housing inventory and low mortgage rates, that it's the right time to buy a home. (Sun, 18 May 2008 06:10:43 GMT)

Finding a lender you can trust first step in getting mortgage
So you've figured out that you can afford to buy a house. Now what? Should you find your realty agent first or your mortgage lender? (Sun, 18 May 2008 06:10:53 GMT)

Officer pleads guilty in mortgage fraud scheme
South Bend -- A veteran police officer has pleaded guilty to federal bank fraud charges for his role in an elaborate mortgage fraud scheme that bilked lenders out of hundreds of thousands of dollars. (Sun, 18 May 2008 07:00:13 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, 18 May 2008 07:06:03 GMT)

Mortgage lenders see opportunity beyond the border
The cold domestic housing and mortgage markets have lenders looking for warmer possibilities, and a few are spending more efforts to finance Americans who choose to purchase primary residences and second homes south of the border. (Sun, 18 May 2008 07:18:42 GMT)

Best loan in today's market: fixed or adjustable?
I've received many e-mails lately from home buyers who are worried about not being able to find a good mortgage lender. (Sun, 18 May 2008 07:20:01 GMT)

Troubled market fostering mortgage fraud, FBI says
The sinking housing market is fertile ground for mortgage fraud, the FBI warns in a new report. The agency said that reports of suspected mortgage fraud rose 31 percent to 46,717 from 35,617 in the previous fiscal year ending Oct. 31. In the first half of... (Sun, 18 May 2008 07:22:47 GMT)

30-year mortgage rate average down to 6.01%
Rates on 30-year mortgages edged down last week to their lowest point in a month, a spot of welcome news to would-be home buyers. Freddie Mac, the mortgage company, reported that 30-year fixed-rate mortgages averaged 6.01 percent for the week ending Thursday.... (Sun, 18 May 2008 07:23:27 GMT)

Home calendar
Reverse Mortgage Seminar: For homeowners 62 and older who would like to tap into the equity in their home. 6 p.m. Tuesdays and Thursdays at 30800 Telegraph Rd., Ste. 1801, Bingham Farms. Free. Call Jeff Catulla at 586-214-4339, to register. (Sun, 18 May 2008 07:46:21 GMT)

30-year mortgage rates fall to month-long low
WASHINGTON, D.C. (AP) - Rates on 30-year mortgages edged down last week to their lowest point in a month, a spot of welcome news to would-be home buyers. (Sun, 18 May 2008 08:02:37 GMT)

FBI: 200 agents working on mortgage fraud probe
The FBI has more than 200 agents and 33 task forces addressing mortgage fraud, has more than 1,300 cases under investigation and has targeted 19 large companies, FBI Director Robert Mueller said on Friday. (Sun, 18 May 2008 08:19:13 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, 18 May 2008 08:19:28 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 18 May 2008 08:20:21 GMT)

'Walkaway' borrowers might be an urban myth
Officials fret about homeowners' irresponsibility, but there's scant proof of it. Bankers and housing market analysts are warning of a chilling new trend in the mortgage world: homeowners voluntarily defaulting on their loans even though they can actually afford to make the payments. (Sun, 18 May 2008 08:23:34 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, 18 May 2008 09:29:38 GMT)

Local Mortgage Executives Wary Of Foreclosure Rescue Proposal
Mortgage industry executives are reacting with skepticism to a government bailout of imperiled homeowners proposed by Congressman Barney Frank, D-Mass. (Sun, 18 May 2008 10:16:49 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 18 May 2008 12:52:41 GMT)

How to Win in Today's Housing Market
(ARA) - For all the dire news coming out of the housing market, there's a big, shiny silver lining waiting for many homeowners and home buyers. The Federal Reserve has repeatedly dropped interest rates in the past month - good news for anyone seeking a mortgage. (Sun, 18 May 2008 12:53:02 GMT)

Borrowers, insurers would save with new mortgage insurance
The first article in this series pointed to a serious weakness in the way the mortgage system deals with default risk. Interest-rate risk premiums collected from borrowers that are not needed to meet current losses are paid out as income to investors and not reserved to meet future losses. (Sun, 18 May 2008 14:03:50 GMT)

Home mortgage assistance information available through senator’s Web site
Category: Local News Topics: Economy North Coast State Senator Patricia Wiggins is offering information about home mortgage assistance through her Senate website: http://dist02.casen.govoffice.com/ . (Sun, 18 May 2008 15:21:24 GMT)

How to Save Your Home from Foreclosure
(ARA) - Are you two months or more past due on your mortgage payments and sweating it out? If so you're not alone. (Sun, 18 May 2008 17:48:30 GMT)

Westpac's Kelly Builds Mortgage Giant as Market Wilts (Update1)
May 19 (Bloomberg) -- Gail Kelly spent six years in charge of St. George Bank Ltd. battling for mortgage clients against bigger Sydney-based Westpac Banking Corp. (Sun, 18 May 2008 18:29:35 GMT)

Westpac's Kelly Builds Mortgage Giant as Market Wilts (Update2)
May 19 (Bloomberg) -- Gail Kelly spent six years in charge of St. George Bank Ltd. battling for mortgage clients against bigger Sydney-based Westpac Banking Corp. (Sun, 18 May 2008 18:57:50 GMT)

Woman fights to keep her Glendale home initially seized for $68 debt
Capri Ramos refuses to believe she lost her home 13 years ago over a $68 dental bill. She still lives there. She still pays the mortgage. (Sun, 18 May 2008 19:27:37 GMT)

Mortgage deals fall 76% as crunch tightens grip
MORE than 38,000 different mortgage deals offered by lenders have disappeared in the past year, according to new figures exposing the growing credit crunch. (Sun, 18 May 2008 23:27:10 GMT)

For default car owners, repo man like the Grim Reaper
Loan defaults up sharply in throes of sluggish economy Just as home foreclosures have become a national crisis, prompting the U.S. House to pass a $300 billion bailout bill recently, auto loans have become the other shoe to drop. The Tribune's Michael Martinez reports. (Sun, 18 May 2008 23:27:22 GMT)

Home insurer for rich reaps $17 million in help from state
A property insurance company devoted solely to insuring the houses of Florida's richest residents received a $17 million low-interest state loan that enabled multimillionaires to save an average of $4,700 a year on their premiums. (Mon, 19 May 2008 01:49:45 GMT)

Australia Mortgage Bond Market Recovery Hindered by High Yields
May 19 (Bloomberg) -- The recovery of Australia's mortgage- backed bond market, which reopened to new sales last week after a drought of five months, has been hampered by credit funds offloading existing securities at record high yield margins. (Mon, 19 May 2008 02:59:45 GMT)

Bankers say Paterson's mortgage proposals add unnecessary costs, regulations
The state's banking industry, led by the head of a Troy-based bank, is warning state legislators that proposed mortgage rules could damage lenders and deliver "a death blow" to housing markets. (Mon, 19 May 2008 04:06:57 GMT)

Challenger Financial Services Group, a Sydney-based mortgage provider and asset manager with A$19bn (€11.6bn) of ...
Challenger Financial Services Group, a Sydney-based mortgage provider and asset manager with A$19bn (€11.6bn) of external funds under management, is planning to establish a European asset base despite struggling markets and cautious investor. (Mon, 19 May 2008 04:08:13 GMT)

Teeing Up the Next Mortgage Bust
Unquestioning belief in that self-correcting mechanism is the reason many Republicans don?t want to do anything to prevent foreclosures. (Mon, 19 May 2008 04:26:35 GMT)

County To Discuss Mortgage Tax Increase
MAYVILLE — It looks as though the .25 percent raise on the county’s mortgage tax passed three years ago will continue for another three years. (Mon, 19 May 2008 04:29:41 GMT)

County To Discuss Mortgage Tax Increase
MAYVILLE — It looks as though the .25 percent raise on the county’s mortgage tax passed three years ago will continue for another three years. (Mon, 19 May 2008 04:31:08 GMT)

The mortgage crisis' block of despair
On a Newark block speckled with For Sale and For Rent signs, the men gather on a porch most afternoons and keep watch, just as they have been doing for decades. (Mon, 19 May 2008 04:47:38 GMT)

Lending a sense of hope, mortgage business boosted by favorable rates
Despite a soft housing market and a credit crunch, it's not all gloom and doom among many residential mortgage lenders in the Tampa Bay area. (CFC) (BAC) (Mon, 19 May 2008 05:22:37 GMT)

Kaiser, Sutter, CHW refinance $2.3B in bonds
Northern California's three largest hospital systems -- Kaiser Permanente, Sutter Health and Catholic Healthcare West -- are together refinancing $2.3 billion in bonds, seeking to escape a ripple effect from the subprime meltdown. (Mon, 19 May 2008 05:27:11 GMT)

Tyson: The lowdown on mortgage loan preapprovals
Loan preapproval is significantly more involved than mere loan prequalification — preapproval involves a thorough investigation of your credit history. (Mon, 19 May 2008 05:50:49 GMT)

Home loan business is ‘lowest on record’
A SLUMP in home sales this year is set to take a damaging toll on the wider economy as the credit crunch bites, the Royal Institution of Chartered Surveyors (RICS) warns. (Mon, 19 May 2008 06:40:18 GMT)

South Florida Home Equity Loan Leader Honors High School Athletes With Scholarships
Tropical Financial Credit Union offers more to community than great rates on http://www.tropicalfcu.org/home/about.Pressreleases.pr_scholar_athlete [refinancing your auto loan ] by donating to schools athletic fund for top scholar athlete. (Mon, 19 May 2008 07:01:00 GMT)

South Florida Home Equity Loan Leader Honors High School Athletes With Scholarships
Tropical Financial Credit Union offers more to community than great rates on http://www.tropicalfcu.org/home/about.Pressreleases.pr_scholar_athlete [refinancing your auto loan] by donating to schools athletic fund for top scholar athlete. (PRWeb May 19, 2008) Read the full story at http://www.prweb.com/releases/2008/05/prweb948044.htm (Mon, 19 May 2008 07:24:16 GMT)

Need a better mortgage? Call Uncle Sam
On Capitol Hill this week, lawmakers are set to continue to grapple with the best response to the rising tide of home foreclosures. But the Bush administration says it has a solution in place: A nine-month old mortgage refinancing program run by the Federal Housing Administration. (Mon, 19 May 2008 07:44:29 GMT)

ING Offers to Buy German Mortgage Seller Interhyp (Update1)
May 19 (Bloomberg) -- ING Groep NV , the largest Dutch financial-services company, offered to buy Interhyp AG of Germany, a mortgage broker, for 416 million euros ($648 million). (Mon, 19 May 2008 07:58:26 GMT)

ING Offers to Buy German Mortgage Seller Interhyp (Update1)
May 19 (Bloomberg) -- ING Groep NV , the largest Dutch financial-services company, offered to buy Interhyp AG of Germany, a mortgage broker, for 416 million euros ($648 million). (Mon, 19 May 2008 08:03:17 GMT)

Refinancing: Great deals ... if you qualify
If you've kept your credit score up and can prove your income, here's where and how to find the best refi deals. (Mon, 19 May 2008 10:00:00 GMT)

ING Will Buy Interhyp to Add German Mortgage Seller (Update2)
May 19 (Bloomberg) -- ING Groep NV , the largest Dutch financial-services company, offered to buy Interhyp AG for 416 million euros ($649 million) to add Germany's biggest independent mortgage broker by market share. (Mon, 19 May 2008 10:18:19 GMT)

All Business: Government-backed housing bailout badly needed
NEW YORK — A government-backed mortgage bailout is needed, and it must be done right away. (Mon, 19 May 2008 10:20:05 GMT)

Dutch bank ING makes takeover offer for German mortgage broker
Munich - Dutch bank ING Direct announced plans Monday to launch a public tender offer for Interhyp AG, Germany's largest independent residential mortgage distributor. The bank said it plans to offer 64 euros (98.5 dollars) per share, valuing the comp... (Mon, 19 May 2008 10:43:25 GMT)

At any rate
Rates remain great … should you act before it's too late? Refinancing great if ... During the height of the real estate boom, it was not only possible to buy a home with little cash and less-than-ideal credit, but with soaring real estate prices, it was easy to refinance as well. (Mon, 19 May 2008 10:56:46 GMT)

Uganda: To Take Or Not to Take Mortgage?
THE construction industry has become a major driver of economic growth in the last 10 years. Everybody who is anyone is either building or buying property. (Mon, 19 May 2008 11:50:39 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? (Mon, 19 May 2008 12:21:21 GMT)

Home insurer for rich reaps $17 million in help from state
A property insurance company devoted solely to insuring the houses of Florida's richest residents received a $17 million low-interest state loan that enabled multimillionaires to save an average of $4,700 a year on their premiums. (Mon, 19 May 2008 12:51:53 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, 19 May 2008 15:17:29 GMT)

Daily Headline News for May 19, 2008
Digest of headline news as of 7:10 p.m. Moscow time on May 19: BUSINESS & FINANCE *** CENTRAL BANK BOOSTS LOANS TO BANKS BY 33% IN APRIL The Central Bank of Russia provided banks 1.6194 trillion rubles in loans for the purposes of refinancing, a 33.3% increase from 1.215 trillion rubles posted in March. (Mon, 19 May 2008 15:27:12 GMT)

LOAN TIPS
Here are suggestions to protect yourself from predatory lenders: Don't do business with lenders you haven't checked out. One source is the Better Business Bureau, http://www.bbb.org. Don't be rushed into signing a loan because it's a limited-time offer. Don't sign documents with blank lines. Be sure every space is filled in on the loan application before you sign. Don't lie on a loan ... (Mon, 19 May 2008 15:37:36 GMT)

LOAN TIPS
Here are suggestions to protect yourself from predatory lenders: Don't do business with lenders you haven't checked out. One source is the Better Business Bureau, http://www.bbb.org. Don't be rushed into signing a loan because it's a limited-time offer. Don't sign documents with blank lines. Be sure every space is filled in on the loan application before you sign. Don't lie on a loan ... (Mon, 19 May 2008 15:39:50 GMT)

ING Bids for Interhyp to Add German Mortgage Broker (Update4)
May 19 (Bloomberg) -- ING Groep NV , the largest Dutch financial-services company, offered to buy Interhyp AG for 416 million euros ($649 million) to add Germany's biggest independent mortgage broker by market share. (Mon, 19 May 2008 16:33:20 GMT)

Ford says payment a loan, not a bribe
A defiant Edmund Ford Sr. insisted in court this morning that money he accepted in 2006 from political consultant Joe Cooper was a business loan for his funeral home and not a bribe for his vote on the City Council. (Mon, 19 May 2008 17:05:01 GMT)

Hundreds To Lose Jobs When Payday Loan Company Closes
A payday loan company's officials said a recent bill passed by the Ohio Legislature will cause it to close. (Mon, 19 May 2008 17:12:00 GMT)

Hundreds To Lose Jobs When Payday Loan Company Closes
A payday loan company's officials said a recent bill passed by the Ohio Legislature will cause it to close. (Mon, 19 May 2008 17:13:08 GMT)

C&G pulls its entire mortgage range
There was more bad news for homebuyers today when one of Britain's biggest mortgage lenders, Cheltenham & Gloucester, withdrew its entire home loan range with little notice (Mon, 19 May 2008 18:13:06 GMT)

Va. to Hold Regional Mortgage Clinics
RICHMOND, Va. (AP) -- Virginia officials are holding a series of regional mortgage clinics to help residents avoid home foreclosure. (Mon, 19 May 2008 18:19:11 GMT)

C&G pulls entire mortgage range
Major mortgage lender withdraws entire home loan range with little notice (Mon, 19 May 2008 18:23:18 GMT)

HUD's FHASecure Has Helped 200,000 Homeowners
WASHINGTON (Housing & Urban Development Department Documents and Publications/ContentWorks via COMTEX) -- U.S. Housing and Urban Development Deputy Secretary Roy A. Bernardi on Friday announced the Bush Administration's FHASecure product has helped 200,000 homeowners refinance their mortgages and avoid foreclosure. (Mon, 19 May 2008 19:13:05 GMT)

Southern California home sales surged in April
In what could be a sign of hope in the midst of a long housing slump, Southern California home sales surged in April to their highest level since August, and Riverside County saw a month-over-month increase in sales, a real estate information service reported today. (Mon, 19 May 2008 19:27:31 GMT)

Fitch affirms HDFC Home Loan Securitisation
Fitch Ratings Lanka has on Friday affirmed the ‘AA-(lka)’ (AA minus(lka)) National Long-term rating on the series A pass-through certificates (PTCs) issued by the Home Loan Securitisation Trust (HLST). (Mon, 19 May 2008 19:47:41 GMT)

Mortgage aid: Navigating a murky process
WASHINGTON ’ Zena Collins knew she had a serious problem when she could no longer afford electricity.The mortgage payment on her Gaithersburg, Md., house had jumped about $500, to $2,000 a month, not counting taxes and insurance, after her adjustable interest rate increased. When she bought the house in 2000, she was a pension administrator. By the time her company decided to cut her job, she ... (Mon, 19 May 2008 19:55:21 GMT)

KeyBank triples mortgage staff in state
KeyBank has recruited Michael D. Taylor, a former WaMu regional sales executive, to triple its mortgage lending capability this year in Washington. Taylor, who will be based in Tacoma, was named vice president and regional sales manager for the bank's Northwest region. (Mon, 19 May 2008 19:57:16 GMT)

Thornburg Mortgage to Announce First Quarter Earnings by June 2, 2008
Thornburg Mortgage, Inc. (NYSE: TMA) announced today it intends to file its Form 10-Q and issue an (Mon, 19 May 2008 20:09:46 GMT)

Senate deal struck on mortgage aid
Senate Banking Committee leaders said Monday that they have come to a deal on a housing bill that would prevent foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac. (Mon, 19 May 2008 21:28:36 GMT)

KeyBank boosts mortgage staff in state
KeyBank has recruited Michael D. Taylor, a former WaMu regional sales executive, to triple its mortgage lending capability this year in Washington. Taylor, who will be based in Tacoma, was named vice president and regional sales manager for the bank's Northwest region. (Mon, 19 May 2008 21:42:04 GMT)

Seniors set fire to $24 million mortgage
About 400 residents of a senior mobile home community in Irvine celebrated their final mortgage payment and complete ownership of the property. (Mon, 19 May 2008 21:45:08 GMT)

Australia 1Q Mortgage Delinquencies +0.24 Pct Pt Vs 4Q -Fitch
SYDNEY -(Dow Jones)- The Australian prime mortgage market showed an increase in the percentage of loans in delinquency in the March quarter from the December quarter, Fitch Ratings said Tuesday. (Mon, 19 May 2008 23:57:39 GMT)

Mortgage debt fears hit banks' shares
Bradford & Bingley's shares slumped to a record low amid fresh fears about the mortgage market. (Tue, 20 May 2008 01:12:22 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, 20 May 2008 01:17:16 GMT)

Home Buying Experts Warn - Builder Loan Fine Print Could Cost You Thousands
The home loan packages offered by builders are often touted as being very convenient. But when it comes to evaluating the true benefits the picture is often quite different, according to the home buying specialists at the National Association of Exclusive Buyer Agents, . (Tue, 20 May 2008 01:24:00 GMT)

Prime mortgage market delinquencies up
Credit ratings agency Fitch Ratings says the Australian prime mortgage market showed an increase in delinquencies in the first quarter of 2008. (Tue, 20 May 2008 01:36:32 GMT)

Federal Home Loan Bank of Dallas appoints new director
The Federal Home Loan Bank of Dallas has appointed Joseph Quinlan to the banks board of directors. (Tue, 20 May 2008 01:53:40 GMT)

Senate Leaders Agree On Mortgage Relief
(RTTNews) - Leaders of the Senate Banking Committee say they have reached agreement on legislation to help U.S. homeowners survive the mortgage crisis. (Tue, 20 May 2008 01:57:18 GMT)

GMAC Prices Debut Australian Mortgage Bonds at Record (Update1)
May 20 (Bloomberg) -- GMAC LLC , the U.S. auto and home-loan lender, priced more than A$300 million ($286 million) of Australian mortgage-backed bonds at a record high yield margin for the local market, according to an e-mail sent to investors. (Tue, 20 May 2008 02:29:35 GMT)

Struggling homeowners urged to seek help before mortgage payment problems multiply
Mary Ellen Rochette says she’s been “extremely busy” of late, and that’s not good. (Tue, 20 May 2008 04:08:36 GMT)

Housing Deal Is Struck
A Senate agreement would offer FHA refinancing to a half-million homeowners, as well as overhaul Fannie Mae and Freddie Mac (Tue, 20 May 2008 04:57:25 GMT)

County approves loan for local metal fabricator
Gloggner Metal Fabricators received a $15,000 five-year forgivable loan through the Buchanan County Economic Development Fund on Monday. The St. Joseph company, located at 3336 Pear St., is investing $1.5 million into expanding its current facility, which employs 18 people. (Tue, 20 May 2008 05:11:55 GMT)

Foreclosure compromise found
WASHINGTON: The Senate Banking Committee today is expected to pass a bipartisan measure that creates a $300 billion loan-guarantee program to refinance distressed mortgages and slow a rising national tide of foreclosures. (Tue, 20 May 2008 05:43:35 GMT)

Study: Nearly half of college grads will move back home
WASHINGTON They're coming home. Many parents already know this, but it's likely that many college graduates -- faced with a tight job market, higher gas and food costs, and mountainous debt -- will move home to get their financial bearings. Despite assurances that they will only stay for a little while, this time next year many of those graduates will still be living at home. That's what ... (Tue, 20 May 2008 05:47:20 GMT)

Mortgage defaults up in first quarter
FITCH Ratings says the Australian prime mortgage market showed an increase in delinquencies in the first quarter of 2008. (Tue, 20 May 2008 06:08:00 GMT)

Patterson still trying to secure land for courthouse
PATTERSON - Whether the town seizes land for a new courthouse or buys it from the mortgage holder could come down to about $20,000. (Tue, 20 May 2008 06:41:49 GMT)

Bipartisan mortgage guarantee advances
WASHINGTON – The Senate Banking Committee is expected to pass today a bipartisan measure that creates a $300 billion loan guarantee program to refinance distressed mortgages and slow a rising national tide of foreclosures. (Tue, 20 May 2008 07:13:40 GMT)

Bipartisan mortgage guarantee advances
The Senate Banking Committee is expected to pass today a bipartisan measure that creates a $300 billion loan guarantee program to refinance distressed mortgages and slow a rising national tide of foreclosures. (Tue, 20 May 2008 07:19:42 GMT)

Senate panel to consider housing bill
WASHINGTON - The Senate Banking Committee is expected to pass a bipartisan measure today that creates a $300 billion loan guarantee program to refinance distressed mortgages and slow a rising national tide of foreclosures. (Tue, 20 May 2008 07:53:29 GMT)

Q: What's better, a 30-year fixed-rate mortgage or an adjustable-rate loan?
A: The interest and principal payments on a fixed-rate mortgage won't change. An adjustable mortgage often carries a slightly lower interest rate, but it will reset after a certain period, usually between one and seven years. (Tue, 20 May 2008 08:51:18 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, 20 May 2008 09:21:22 GMT)

RHG to move back some mortgage bonds
Home loan provider RHG Ltd plans to move back the call date on some of its outstanding residential mortgage-backed bonds. (Tue, 20 May 2008 09:31:12 GMT)

Home equity loan on a rental property
CPA George Saenz advises a reader who wants to use a home equity loan on one rental to pay off the balloon mortgage of another rental. (Tue, 20 May 2008 10:00:00 GMT)

Senators reach deal on foreclosure legislation
The bipartisan plan, which doesn't rely on taxpayers to foot the bill, still faces significant hurdles. Key senators announced Monday a bipartisan agreement on the broad elements of a plan to avoid foreclosures and speed the refinancing of mortgages for roughly 500,000 troubled homeowners without taxpayers footing the bill. (Tue, 20 May 2008 10:05:23 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? (Tue, 20 May 2008 10:24:52 GMT)

Mortgage malaise to hamper Rock repayments
The top team at Northern Rock today admitted for the first time since taking over the nationalised UK lender in February that the company could struggle to meet its own 2010 deadline to repay billions of pounds of taxpayers’ loans because of the downturn in the credit and mortgage markets. (Tue, 20 May 2008 12:05:17 GMT)

FSCS confirms first default of mortgage broker
The Financial Services Compensation Scheme has declared mortgage firm Kingsfield and its adviser Gordon Benville in default and has started paying claims against the advisor. ... (Tue, 20 May 2008 12:05:59 GMT)

State says mortgage fund owner loaned himself $38 million
The California Department of Real Estate says the owner of Cedar Funding loaned $38 million to himself and one of his businesses from the firm's mortgage fund without telling investors. (Tue, 20 May 2008 12:51:27 GMT)

Senate leaders agree on mortgage aid bill
WASHINGTON, May 20 (UPI) -- U.S. Senate finance committee leaders said they had reached an agreement on a bill to provide about $500 million in help for troubled U.S. mortgage holders. (Tue, 20 May 2008 13:09:19 GMT)

HBOS Plans First U.K. Mortgage-Backed Bonds This Year (Update1)
May 20 (Bloomberg) -- HBOS Plc , Britain's biggest mortgage bank, plans to sell 500 million pounds ($982 million) of bonds pooling U.K. mortgages, the first public sale of debt backed by British home loans since credit markets seized up last year. (Tue, 20 May 2008 13:49:43 GMT)

"Fight brewing" over affordable housing fund: Frank
U.S. Rep. Barney Frank on Tuesday said "a fight is brewing" over a Senate agreement to finance a new federal mortgage insurance fund by taking money from a proposed trust fund for affordable housing. (Tue, 20 May 2008 14:02:16 GMT)

Mortgage rescue advances in Senate
Congress moved a big step closer Tuesday to expanding government efforts to help at-risk homeowners. (Tue, 20 May 2008 14:28:56 GMT)

HBOS Sells First U.K. Mortgage-Backed Bonds This Year (Update2)
May 20 (Bloomberg) -- HBOS Plc , Britain's biggest mortgage bank, sold 500 million pounds ($982 million) of bonds pooling U.K. mortgages, the first public sale of debt backed by British home loans since credit markets seized up last year. (Tue, 20 May 2008 16:03:20 GMT)

Morgan Stanley shutters UK mortgage unit
Morgan Stanley has set June 16 as the "lights out" date for its UK residential mortgage arm Advantage, it said on Tuesday, three months after the unit withdrew all mortgage products and announced plans to close. (Tue, 20 May 2008 16:47:00 GMT)

HBOS Sells First U.K. Mortgage-Backed Bonds This Year (Update3)
May 20 (Bloomberg) -- HBOS Plc , Britain's biggest mortgage bank, sold 500 million pounds ($982 million) of bonds secured by U.K. mortgages, the first public sale of the debt since credit markets seized up last year. (Tue, 20 May 2008 17:33:02 GMT)

A mileage mess on my mortgage
Northwest Airlines promises Dave Herstad 18,375 frequent flier miles when he applies for his mortgage. He gets the loan, but not the miles. After several rounds of finger-pointing between supervisors at Northwest, Lending Tree and Home Loan Center, his miles remain missing. What should he do? (Tue, 20 May 2008 17:56:01 GMT)

Fitch Takes Various Actions on 2 Wachovia Mortgage Loan Trust Alt-A Transactions
Fitch Ratings has taken rating actions on the mezzanine/subordinate bonds of the following Wachovia Mortgage Loan Trust, LLC transactions listed below: (Tue, 20 May 2008 19:11:33 GMT)

Fixed mortgage rates go up
NEW YORK -- Fixed mortgage rates were modestly higher, with the average conforming 30-year fixed mortgage rate rising to 6.19 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.39 discount and origination points. (Tue, 20 May 2008 19:19:14 GMT)

How to Win in Today's Housing Market
(ARA) - For all the dire news coming out of the housing market, there's a big, shiny silver lining waiting for many homeowners and home buyers. The Federal Reserve has repeatedly dropped interest rates in the past month - good news for anyone seeking a mortgage. (Tue, 20 May 2008 19:20:42 GMT)

Real Estate: Making Mortgage Loan Counseling Mandatory
Mortgage loan counseling can be helpful. Should it be mandatory? (Tue, 20 May 2008 19:25:06 GMT)

Oregon vets home loan program gets $100M
A newly passed House measure could help Oregon veterans collect more home-buying assistance. (Tue, 20 May 2008 21:53:04 GMT)

Housing rescue plan passed
WASHINGTON — With Sen. Jack Reed providing a crucial piece of the compromise, a key Senate committee overwhelmingly sealed a deal yesterday that could help hundreds of thousands of homeowners refinance their troubled mortgages — with the blessing of President Bush. (Tue, 20 May 2008 23:05:15 GMT)

HBOS returns to mortgage-backed bond market
HBOS , the UK’s largest mortgage lender, has sold £500m of mortgage-backed bonds in the first such deal for any mainstream European issuer since the credit crisis struck last summer. (Tue, 20 May 2008 23:19:47 GMT)

Senate panel OKs homeowner rescue
Profits from government-sponsored mortgage giants Fannie Mae and Freddie Mac, instead of taxpayers, would back up a home loan rescue for up to 500,000 strapped borrowers under a plan approved by a key Senate committee Tuesday to pull the nation out of a housing crisis. (Tue, 20 May 2008 23:24:26 GMT)

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