Mortgage News Jun 2008

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Home mortgage 'reset' shock to hit suburbs
The pain of rising payments is far from over for subprime borrowers. (Sun, 01 Jun 2008 00:40:39 GMT)

Home mortgage 'reset' shock to hit suburbs
The pain of rising payments is far from over for subprime borrowers. (Sun, 01 Jun 2008 01:37:38 GMT)

The Trouble in Housing Trickles Up
Nearly a year after the mortgage meltdown became front-page news, housing woes have moved into the realm of upper-middle-class homeowners (Sun, 01 Jun 2008 03:36:19 GMT)

States halting home scams
WASHINGTON -- For people about to lose their homes to foreclosure, the advertisements are like a lifeline: "WE BUY HOUSES FOR CA$H," or "Refinance Your Mortgage! (Sun, 01 Jun 2008 03:41:33 GMT)

Subprime legislation finally surfaces
WASHINGTON — After a year of partisan gridlock, Congress appears ready to deliver some relief to homeowners caught up in the nation's subprime mortgage meltdown. (Sun, 01 Jun 2008 03:50:05 GMT)

Loan program helps Dade teachers buy homes
If there is a bright side to South Florida's gloomy housing market, this might be it: Nora Janvier, a schoolteacher with two kids, can finally afford a decent place of her own to live. That's in no small part because of help -- and a $25,000 loan on very attractive no-interest, no-pay terms -- from a new Miami-Dade County program aimed at helping struggling inner-city schools and the people who ... (Sun, 01 Jun 2008 04:04:56 GMT)

Know pros, cons before signing reverse mortgage for extra cash
With all the news about the housing crises, loan defaults and home foreclosures, borrowers are definitely becoming aware of the pitfalls of overextending themselves. I'm continuously receiving questions about the best way to approach a mortgage and how handling debt, particularly mortgage debt, fits into an overall financial plan. One question that seems to be coming up more frequently is ... (Sun, 01 Jun 2008 05:38:35 GMT)

Maine supreme court rejects mortgage foreclosure by Camden bank
CAMDEN — A mortgage foreclosure by the Union Trust Company, now part of Camden National Bank, has been thrown out by the Maine Supreme Court, which has ruled that the bank failed to prove it had ever notified the mortgage holder he was in default. (Sun, 01 Jun 2008 05:50:09 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? (Sun, 01 Jun 2008 06:12:10 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, 01 Jun 2008 06:12:31 GMT)

Closing costs big variable in getting mortgage
It's tough getting a mortgage these days, and even if you manage to pull one off you might end up paying more than your fair share in closing costs. That's what the federal Department of Housing and Urban Development believes. (Sun, 01 Jun 2008 07:04:22 GMT)

Refinancing mortgages will save Farash millions a year
By refinancing mortgages on two of its apartment complexes, Farash Corp. will be able to save $2 million. (Sun, 01 Jun 2008 07:13:28 GMT)

ING makes ARM easier to refinance
For many borrowers, adjustable-rate mortgages are too risky, even though the interest on such loans is usually fixed for five or seven years at a rate lower than that offered on 30-year fixed mortgages. An ARM rate can rise significantly after the... (Sun, 01 Jun 2008 07:25:32 GMT)

Travel Troubleshooter: Mortgage crisis: His missing miles
Question: You may be my last resort, so I'm certainly hoping you can help me. Last summer, I applied for a mortgage through Northwest Airlines and Lending Tree that entitled me to 18,375 frequent-flier miles. I received a mortgage loan of $105,000, but I'm still waiting for my miles. (Sun, 01 Jun 2008 07:35:40 GMT)

KeyCorp. not alone in loan losses, experts say
KeyCorp's revelation last week that its loan losses for the year will be significantly higher than originally expected wasn't surprising, but it has rattled investors who worry about the Cleveland bank's high dividend. (Sun, 01 Jun 2008 07:55:53 GMT)

A mortgage-aid bill that would really help
Here's a simple message on a complicated topic -- the housing aid package being crafted in Congress: Lawmakers should endorse the version approved by a Senate committee last month. The White House should stop dithering and give the bill its unequivocal support. This rescue package is no magic bullet. Yet it represents the most ambitious effort by the government so far to help troubled borrowers ... (Sun, 01 Jun 2008 08:00:23 GMT)

Mortgage meltdown
Virtually everyone is suffering from a mortgage hangover. Even homeowners who never have missed a payment. Even people who already have paid off their mortgages. (Sun, 01 Jun 2008 08:04:45 GMT)

Closing costs big variable in getting mortgage
It's tough getting a mortgage these days, and even if you manage to pull one off you might end up paying more than your fair share in closing costs. (Sun, 01 Jun 2008 08:12:34 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, 01 Jun 2008 08:55:16 GMT)

Trouble in U.S. housing markets trickles up
Nearly a year after the mortgage meltdown became front-page news, housing woes have moved into the realm of upper-middle-class homeowners. (Sun, 01 Jun 2008 10:14:08 GMT)

The Trouble in Housing Trickles Up
Nearly a year after the mortgage meltdown became front-page news, housing woes have moved into the realm of upper-middle-class homeowners. (Sun, 01 Jun 2008 11:37:18 GMT)

The Trouble in Housing Trickles Up
Nearly a year after the mortgage meltdown became front-page news, housing woes have moved into the realm of upper-middle-class homeowners. (Sun, 01 Jun 2008 12:37:47 GMT)

THVideo: Aaron Jones Says Loan Has Been Paid
Aaron Jones tells Today's THV that he had nothing to do with the fire at his home on Chenal Circle. Includes video. (Sun, 01 Jun 2008 13:50:40 GMT)

US mortgage rates leap ahead
US mortgage rates soared last week amid a sharp rise in Treasury market yields, as investors started to bet that inflation pressures could prompt the Federal Reserve to raise interest rates later this year. (Sun, 01 Jun 2008 18:57:51 GMT)

The Trouble in Housing Trickles Up
Nearly a year after the mortgage meltdown became front-page news, housing woes have moved into the realm of upper-middle-class homeowners. (Mon, 02 Jun 2008 00:37:50 GMT)

Tougher mortgage rules having the desired effect
In the wake of the housing crisis, droves of brokers are giving up their licenses, while others are simply quitting. "We wanted to make it tougher to be in this business, and it's working," a state Commerce official said. (Mon, 02 Jun 2008 02:38:08 GMT)

Concern heightens over level of UK mortgage losses
In past years, one of the most common refrains heard from British bankers dealing with mortgage products was: "We don't have subprime here." (Mon, 02 Jun 2008 02:49:47 GMT)

Small Business: Some entrepreneurs are moving back home
NEW YORK -- When a small business graduates from being home-based to having premises of its own, it's quite an accomplishment. But in this economy, some small-company owners are deciding it makes more sense to move back home again. (Mon, 02 Jun 2008 03:52:00 GMT)

Brokers weigh FHA approval as housing loan limits increase
Recent changes have made home loans insured by the Federal Housing Administration more attractive to Silicon Valley borrowers and, in turn, lenders. But the FHA approval process is too time-consuming and costly for some brokers, given that increased loan limits might expire at year's end. Others, however, are getting the qualification, and if politicians extend the higher limit, more may follow. (Mon, 02 Jun 2008 04:06:06 GMT)

Moving home makes sense for some small businesses
NEW YORK When a small business graduates from being home-based to having premises of its own, it's quite an accomplishment. But in this economy, some small company owners are deciding it makes more sense to move back home again. Robin Stein's company, Portamee, was started in her Manhattan apartment in 2006 and found quick success selling its baby carriers to big retailers. So Stein and her ... (Mon, 02 Jun 2008 05:03:58 GMT)

TPG Capital to invest in UK mortgage lender
TPG Capital will invest 179 million pounds and take a 23 percent stake in struggling mortgage lender Bradford & Bingley PLC, the British company said Monday. (Mon, 02 Jun 2008 08:23:49 GMT)

Care home investors join battle over debts
Bondholders in £1.4bn Four Seasons have waded into the battle between the care home chain's Qatari owners and its lender Royal Bank of Scotland. (Mon, 02 Jun 2008 08:34:08 GMT)

London Markets: Bradford & Bingley leads London mortgage bank slide
A profit warning and reduced share offer from mortgage lender Bradford & Bingley triggered renewed concerns about the financial health of leading banks, sending stocks in London lower. (Mon, 02 Jun 2008 09:04:48 GMT)

Check your mortgage's health at Flagship
In today's market of shifting lending guidelines, it might be time for a homeowner's health check, Flagship Mortgage manager Ron Graf said. (Mon, 02 Jun 2008 09:16:18 GMT)

U.K. April Mortgage Approvals Decline to Record Low (Update1)
June 2 (Bloomberg) -- U.K. mortgage approvals dropped in April to the lowest in at least nine years as falling house prices and fewer loan offers deterred buyers. (Mon, 02 Jun 2008 09:33:02 GMT)

TPG takes UK mortgage lender stake
Private equity firm TPG Capital will invest 179 million pounds and take a 23 percent stake in struggling mortgage lender Bradford & Bingley PLC in a restructured rights issue, the British company said Monday. (Mon, 02 Jun 2008 09:35:56 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, 02 Jun 2008 09:36:53 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. (Mon, 02 Jun 2008 09:37:12 GMT)

Risky refinancings deepen financial hole
For thousands of credit-crunched homeowners, New Century Financial appeared to be their savior. The California-based mortgage company catered to the riskiest borrowers, even those with credit scores as low as 500. Its brokers cut deals by asking few questions and reviewing even fewer documents, investigators say. (Mon, 02 Jun 2008 09:46:05 GMT)

TPG Capital buys stake in UK mortgage lender
LONDON, England (AP) -- TPG Capital will invest £179 million ($355 million) and take a 23 percent stake in struggling mortgage lender Bradford and Bingley, the British company said Monday. (Mon, 02 Jun 2008 09:47:15 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. (Mon, 02 Jun 2008 09:51:35 GMT)

No shame in moving company back home
NEW YORK – When a small business graduates from being home-based to having premises of its own, it’s quite an accomplishment. But in this economy, some small-company owners are deciding it makes more sense to move back home again. (Mon, 02 Jun 2008 10:10:48 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, 02 Jun 2008 10:22:32 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? (Mon, 02 Jun 2008 10:22:42 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, 02 Jun 2008 10:24:32 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, 02 Jun 2008 10:24:52 GMT)

TPG takes UK mortgage lender stake
Private equity firm TPG Capital will take a 23 percent stake in Bradford & Bingley PLC, the struggling British mortgage lender said Monday. (Mon, 02 Jun 2008 11:07:44 GMT)

Homeowners Find Big Problem in 'Solutions'
PLANT CITY | Millicent Antun was in trouble.She was behind on mortgage payments, and her house was in foreclosure. She feared she would wind up on the street with her goats, turkeys and chickens.Then she heard the radio ad: A company called 4 Solutions was offering a way out. (Mon, 02 Jun 2008 11:12:24 GMT)

U.K. Mortgage Approvals Drop, Factory Growth Stalls (Update1)
June 2 (Bloomberg) -- U.K. mortgage approvals dropped in April to the lowest in at least nine years and manufacturing growth ground to a halt, bringing the economy closer to a recession. (Mon, 02 Jun 2008 11:19:34 GMT)

Euro-based mortgages: from dream home to euro nightmare
It never rains but it pours: people who have euro-based mortgages on properties at home and abroad are suffering as their repaymetns soar. Myra Butterworth finds out what steps homebuyers should take. (Mon, 02 Jun 2008 11:30:24 GMT)

Bradford & Bingley warns on U.K. mortgage market
The British lender has issued a stark warning on the state of the mortgage market and slashed the price of its emergency fund-raising to secure a private equity lifeline, hitting bank shares across Europe. (Mon, 02 Jun 2008 11:57:55 GMT)

Going home can keep your company afloat
Small business operators are proving that you can return home again. When a small business graduates from being home-based to having premises of its own, it's quite an accomplishment. But in this economy, some small company owners are deciding it makes more sense to move back home again. (Mon, 02 Jun 2008 11:59:45 GMT)

Nationwide raises mortgage rates
The Nationwide building society is putting up mortgage rates by up to 0.3% as price fluctuations continue. (Mon, 02 Jun 2008 12:04:12 GMT)

British mortgage approvals fall; factories stall
Britain’s economic picture grew gloomier Monday as mortgage approvals continued to decline and a measure of activity in the manufacturing sector pointed to a stall in growth. (Mon, 02 Jun 2008 12:04:43 GMT)

B&B warns on UK mortgage market as TPG buys in
Bradford & Bingley issued a stark warning on the state of the UK mortgage market on Monday and slashed the price of its emergency fundraising to secure a private equity lifeline, hitting bank shares across Europe. (Mon, 02 Jun 2008 12:25:43 GMT)

QuestSoft, Loan Energizer Enhanced Full Integration, Simplify Compliance for Lenders
LAGUNA HILLS, Calif.----QuestSoft , a provider of compliance software and geocoding services for lenders, announced that the company's Compliance EAGLE, an end-to-end, fully automated compliance review system, has been integrated into Loan Energizer™. (Mon, 02 Jun 2008 12:30:00 GMT)

QuestSoft, Loan Energizer Enhanced Full Integration, Simplify Compliance for Lenders
QuestSoft (Laguna Hills, Calif.), a provider of compliance software and geocoding services for lenders, announced that the company's Compliance EAGLE, an end-to-end, fully automated compliance review system, has been integrated into Loan Energizer(TM). Loan Energizer is a loan origination system (LOS) designed by Encino, Calif.-based Management Systems Development, Inc. that provides complete ... (Mon, 02 Jun 2008 13:01:10 GMT)

Subprime mortgage mess claims another bank CEO
Ken Thompson, chief executive of Wachovia Corp., on Monday became the latest CEO casualty of the U.S. housing downturn and related fallout from the subprime mortgage crunch. (Mon, 02 Jun 2008 14:04:43 GMT)

Brazos Auction-Rate Yields Exceed Loan Interest Rates (Update1)
June 2 (Bloomberg) -- Brazos Group Inc., the largest municipal borrower in the $330 billion auction-rate securities market, is stuck with $7 billion of debt it can't refinance, restructure or buy back. (Mon, 02 Jun 2008 14:58:30 GMT)

Higher fees to set up a home loan add to the misery for hard-pressed buyers
Some front end charges for low rates can pay off, Kara Gammell and Graham Ruddick report. (Mon, 02 Jun 2008 15:45:25 GMT)

U.K. Mortgage Approvals Drop, Factory Growth Stalls (Update2)
June 2 (Bloomberg) -- U.K. mortgage approvals dropped in April to the lowest in at least nine years and manufacturing growth ground to a halt, bringing the economy closer to a recession. (Mon, 02 Jun 2008 15:48:15 GMT)

U.K. Mortgage Approvals Drop, Factory Growth Stalls (Update2)
June 2 (Bloomberg) -- U.K. mortgage approvals dropped in April to the lowest in at least nine years and manufacturing growth ground to a halt, bringing the economy closer to a recession. (Mon, 02 Jun 2008 15:49:32 GMT)

No rush on foreclosure relief in Georgia
A crisis awaited Georgia legislators last January. Mortgage foreclosure notices in metro Atlanta had increased by nearly a third in a year, and the state ranked third nationally in seriously delinquent home loans. In other states, lawmakers were taking steps to avert foreclosures. Nine states, for instance, had created funds to rescue homeowners with high-cost loans. Twenty had passed laws aimed ... (Mon, 02 Jun 2008 15:58:48 GMT)

TPG takes UK mortgage lender stake
Private equity firm TPG Capital will take a 23 percent stake in Bradford & Bingley PLC, the struggling British mortgage lender said Monday. (Mon, 02 Jun 2008 16:53:31 GMT)

Leland Twp. approval needed for Binsfeld Center refinancing
Documents to refinance the mortgage on the Connie Binsfeld Resource Center in Lake Leelanau could come before the Leland Township Board by early July. (Mon, 02 Jun 2008 18:20:34 GMT)

Getting Your Home Appraised
Here's how to handle that step of your home sale or purchase process. (Mon, 02 Jun 2008 18:40:32 GMT)

Getting Your Home Appraised
Here's how to handle that step of your home sale or purchase process. (Mon, 02 Jun 2008 19:25:46 GMT)

Thornburg Mortgage to delay filing 1Q report
Mortgage lender Thornburg Mortgage Inc. said Monday it will need more time to file its first-quarter earnings report to determine the value of sold investments. (Mon, 02 Jun 2008 20:27:38 GMT)

Accredited Mortgage Loan REIT Trust Declares Q2 2008 Dividend on Preferred Shares
Accredited Mortgage Loan REIT Trust ("REIT") announced that the Pricing Committee of the (Mon, 02 Jun 2008 21:09:38 GMT)

Mortgage rates on the rise: time to refinance?
Interest rates on 30 year mortgages are above 6% - their highest levels since March. Is the end of low interest rates on the horizon? Here are some top tips on what you need to know if you want to refinance. (Mon, 02 Jun 2008 21:24:00 GMT)

Accredited Mortgage Loan REIT Trust Declares Q2 2008 Dividend on Preferred Shares
Accredited Mortgage Loan REIT Trust ("REIT") announced that the Pricing Committee of the Board today declared a quarterly cash dividend on REIT's 9.75% Series A Perpetual Cumulative Preferred Shares at the rate of $0.609375 per share. The dividend will be paid on July 1, 2008 to preferred shareholders of record at the close of business on June 13, 2008. (Mon, 02 Jun 2008 21:26:29 GMT)

After Hours: Lululemon tumbles 12%; Thornburg Mortgage drops
LOS ANGELES (MarketWatch) -- Shares of Lululemon Athletica Inc. and Thornburg Mortgage Asset Corp. drop sharply after the retailer lowered its earnings forecast and the mortgage finance company delayed the release of its financial report. (Mon, 02 Jun 2008 21:34:51 GMT)

There's no real benefit to paying off mortgage
Our condominium unit is now worth approximately $350,000, and we owe only $25,000 on our mortgage. We are from the old school and want to own this property free and clear. We have the money and are considering paying off the loan. Is this a good idea, and if so, how do we go about making sure that it is done correctly? (Mon, 02 Jun 2008 22:17:32 GMT)

Comparing annual percentage rates 'What does the APR mean?'
With interest rates continuing at low levels, you probably receive frequent offers to refinance your current home loan or to purchase a new home. You have many lender choices, ranging from the Internet to local mortgage bankers to mortgage brokers. (Mon, 02 Jun 2008 22:17:52 GMT)

'Mortgage fraud ground zero'
To the untrained eye, the size, scope and sophistication of Las Vegas' alleged mortgage scheme is noteworthy. But to the FBI in Las Vegas, the problem is the opposite: In recent years, there have been so many mortgage fraud cases, the bureau and local prosecutors have had to establish a special task force to combat the problem. (Tue, 03 Jun 2008 01:28:54 GMT)

Napoli locked in loan talks for Inter Milan's Adriano
Napoli have been locked in talks with Inter Milan over a loan deal for Adriano. (Tue, 03 Jun 2008 02:25:55 GMT)

Banks work to keep solid loan business
Several of Kansas City’s biggest banks saw little change in their number of loan applications during the first quarter, despite weakening nationwide demand for loans. (Tue, 03 Jun 2008 03:25:39 GMT)

Rating Cuts, Executive Ousters May Signal Longer Mortgage Slump
June 3 (Bloomberg) -- Ratings cuts at three of the biggest U.S. securities firms coupled with management shakeups at Wachovia Corp . and Washington Mutual Inc. yesterday triggered concern that the mortgage slump has yet to reach a bottom. (Tue, 03 Jun 2008 04:28:10 GMT)

Blight of US home foreclosures may take years to heal
The economic blight of mounting home foreclosures in some American communities could take years to heal, according to government officials and housing advocates. (Tue, 03 Jun 2008 04:43:38 GMT)

Credit Crunch: Bank Ups Mortgage Rates
Mortgage lender Alliance & Leicester has announced it is increasing its fixed rate deals by up to 0.25%. (Tue, 03 Jun 2008 06:00:00 GMT)

Credit Crunch: Bank Ups Mortgage Rates
Mortgage lender Alliance & Leicester has announced it is increasing its fixed rate deals by up to 0.25%. (Tue, 03 Jun 2008 06:00:00 GMT)

Mortgage approvals at lowest since 1999
UK mortgage approvals dropped in April to the lowest in at least nine years and manufacturing growth ground to a halt, bringing the economy closer to a recession. (Tue, 03 Jun 2008 08:18:11 GMT)

Get Extra Cash By Refinancing Your Car
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 03 Jun 2008 08:19:47 GMT)

Q: I don't see how I can keep up with my mortgage payments. What should I do?
A: The Mortgage Bankers Association says lenders don't come out ahead on foreclosures. (Tue, 03 Jun 2008 08:36:26 GMT)

Mortgage giant boots board chief
SEATTLE – Washington Mutual Corp., hard-hit by the mortgage and credit crises, said Monday it will replace Chief Executive Kerry Killinger as chairman of the board and take other steps to improve corporate governance. (Tue, 03 Jun 2008 10:10:28 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? (Tue, 03 Jun 2008 10:22:42 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, 03 Jun 2008 10:25:00 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? (Tue, 03 Jun 2008 10:25:11 GMT)

Barclays chairman says comfortable with mortgage-arrears position
LONDON (MarketWatch) -- Barclays PLC Chairman Marcus Agius said Tuesday that the U.K. bank is "comfortable" with the lender's mortgage-arrears situation. "I'll say what I've said before: In this market, people tend to read across to other banks and forget that there are differences in the quality of the business. Barclays is quite comfortable with its position," Agius said when asked if Barclays ... (Tue, 03 Jun 2008 10:39:07 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, 03 Jun 2008 11:20:41 GMT)

Get the Lowdown on Securing a Loan
Find out how the credit crunch affects your odds of getting a loan. (Tue, 03 Jun 2008 11:50:12 GMT)

ResCap Gets GMAC, Cerberus Funding to Avoid Default (Update1)
June 3 (Bloomberg) -- Residential Capital LLC said parent GMAC LLC and private-equity firm Cerberus Capital Management LP agreed to inject $1.43 billion in cash to help keep the distressed mortgage-finance company afloat. (Tue, 03 Jun 2008 12:13:10 GMT)

GMAC mortgage lender says it needs more liquidity
NEW YORK — Residential Capital LLC, the mortgage lending unit of GMAC LLC, said today it needs more than three times more cash to stay in business than it estimated just weeks ago. (Tue, 03 Jun 2008 13:48:43 GMT)

Mortgage Rates Rise on Inflation Concerns
A Freddie Mac survey shows that rates increased last week. (Tue, 03 Jun 2008 14:26:12 GMT)

ResCap Credit-Default Swaps Rise After Cerberus, GMAC Infusion
June 3 (Bloomberg) -- The cost to protect against a Residential Capital LLC debt default rose after Cerberus Capital Management LP and GMAC LLC said they would prop up the distressed mortgage lender because previous rescue plans failed. (Tue, 03 Jun 2008 17:28:20 GMT)

British lender's troubles hint at tough times ahead
The sharp deterioration in mortgages written by Bradford & Bingley points the way to further difficulties for Britain and its banking system. (Tue, 03 Jun 2008 17:57:45 GMT)

Saviours of the suburbs: are US’s twin home loan titans at risk?
Since the onset of the credit crisis, the twin pillars of the US housing finance market have been two venerable government-sponsored enterprises: Fannie Mae and Freddie Mac . Now experts are wondering whether a continued decline in house prices could cause these pillars to crack. (Tue, 03 Jun 2008 19:06:42 GMT)

Sundaram BNP Paribas Home net up 51 %
CHENNAI: Sundaram BNP Paribas Home Finance has reported a 51 per cent rise in net profit at Rs. 22.10 crore in the year ended March 31, 2008. Loan disbursements were Rs. 596 crore indicating a growth of 25 per cent and the company’s net ... (Tue, 03 Jun 2008 19:26:55 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Tue, 03 Jun 2008 20:17:19 GMT)

Slow home sales? Buy one, get one free in San Diego
As though Southern California's fine weather and beaches weren't attractive enough, a San Diego developer desperate to clear inventory is offering potential home buyers a buy-one-get-one-free scheme. (Tue, 03 Jun 2008 21:19:31 GMT)

Budget airline Ryanair warned today that its fares may have to rise 5% this year as costs increase.
The first sign that the beleaguered housing market is directly hitting banks emerged yesterday as Bradford & Bingley highlighted rising mortgage arrears in a profit warning that caused its already battered shares to plummet by a quarter. (Tue, 03 Jun 2008 21:43:14 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. (Tue, 03 Jun 2008 21:46:56 GMT)

Mass. AG Sues Mortgage Company, Alleges Risky Loans
BOSTON (AP) -- The Massachusetts attorney general is suing Option One Mortgage Corp., alleging the subprime mortgage lender deceived consumers into taking out extremely risky loans. (Tue, 03 Jun 2008 22:11:20 GMT)

S&P agrees to change some business practices in wake of subprime mortgage crisis
NEW YORK - Standard & Poor's said today it has tentatively settled with New York Attorney General Andrew Cuomo to overhaul some of its business practices in the aftermath of the subprime mortgage crisis. (Tue, 03 Jun 2008 22:20:33 GMT)

Falling prices 'help home buyers'
Lower house prices should let many more young people buy a home for the first time, a report says. (Tue, 03 Jun 2008 23:19:08 GMT)

The Mortgage Clinic: 'Don't rush in to buying for fear of missing out'
'I've seen a bargain £180,000 property at an auction in mid-June. As a first-time buyer, I have an agreement in principle but am terrified that the credit crunch will scupper the deal, and the mortgage won't be approved in the required four weeks – losing me a 10 per cent deposit. Am I worrying for no reason? Or should I buy via the normal housing market?' Stuart Telling, Cumbria (Tue, 03 Jun 2008 23:35:51 GMT)

Donnachadh McCarthy: The Home Ecologist
Recently, this column explained the simple maths to calculate your home's energy carbon footprint. I also looked at how to cut said footprint by using energy wisely, installing insulation and energy-efficient appliances and investing in renewable energies. But even the greenest households will still emit CO2, so what should we do about those? (Tue, 03 Jun 2008 23:36:42 GMT)

Ahern gave €45k loan to Larkin to repay FF
BERTIE AHERN lent more than €45,000 to Celia Larkin earlier this year to help the beauty salon owner pay back a loan she was given from Fianna Fáil funds 15 years ago, it emerged yesterday. (Tue, 03 Jun 2008 23:46:09 GMT)

In wake of home crisis: buyer education
Concerned by foreclosures but keen to take advantage of sliding home prices, a growing number of prospective buyers in the United States are signing up for a different kind of class: home-buyer education. (Wed, 04 Jun 2008 00:09:49 GMT)

In wake of home crisis: buyer education
MEMPHIS (Reuters) - Concerned by foreclosures but keen to take advantage of sliding home prices, a growing number of prospective buyers in the United States are signing up for a different kind of class: home-buyer education. (Wed, 04 Jun 2008 00:33:34 GMT)

Bunbury home loan defaults on the rise
BUNBURY has the 20th worst postcode for missed mortgage payments in Western Australia and sits just below the national average. (Wed, 04 Jun 2008 02:43:37 GMT)

Mortgage Counseling Available For Residents
Help is being offered for residents who have an adjustable rate mortgage that is set to increase. (Wed, 04 Jun 2008 03:23:09 GMT)

Lawsuit alleges discrimination at former H&R Block mortgage company
Massachusetts' attorney general Tuesday accused H&R Block Inc. and its former Option One Mortgage Corp. subsidiary of discriminating against black and Latino borrowers as it made allegedly predatory loans to them. (Wed, 04 Jun 2008 03:24:39 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? (Wed, 04 Jun 2008 03:31:56 GMT)

Mortgage-lending unit of GMAC in need of more cash
Residential Capital LLC, the mortgage-lending unit of GMAC LLC, said yesterday that it needs more than three times more cash to stay in business than it estimated just weeks ago. (Wed, 04 Jun 2008 04:09:58 GMT)

Small Business: Some have been forced to move back home
When a small business graduates from being home-based to having premises of its own, it's quite an accomplishment. (Wed, 04 Jun 2008 04:23:59 GMT)

Late CEO's mortgage company faced several legal disputes
The firm led by the late Scott M. Coles includes some of the Valley's highest-profile properties. (Wed, 04 Jun 2008 04:53:42 GMT)

Newark brains behind mortgage scam admits guilt
The accused mastermind of a million-dollar mortgage scam involving dozens of run-down houses pleaded guilty yesterday to mail fraud. (Wed, 04 Jun 2008 05:12:28 GMT)

Refinancing Reflects Reality, According to GuideToLenders.com
Homeowners surveyed by GuideToLenders.com, an online consumer resource for broker and lender information, are pointing to different reasons for refinancing as the economy changes. In 2007, more homeowners indicated that converting an adjustable rate mortgage (ARM) to a fixed rate loan was their refinancing priority. More recently surveyed consumers cited lowering interest rates or mortgage ... (Wed, 04 Jun 2008 07:01:00 GMT)

Mortgage crisis forces rating agencies to change
Standard & Poor's said Tuesday it has tentatively settled with New York Attorney General Andrew Cuomo to overhaul some of its practices in the aftermath of the subprime mortgage crisis. (Wed, 04 Jun 2008 08:36:34 GMT)

Thornburg Mortgage to delay filing 1Q report
SANTA FE, N.M.—Mortgage lender Thornburg Mortgage Inc. will need more time to file its first-quarter earnings report to determine the value of sold investments. (Wed, 04 Jun 2008 09:01:22 GMT)

M. Stanley sees growth in Russia mortgage unit
MOSCOW, June 4 - Morgan Stanley, which closed its mortgage business in Britain and slashed lending elsewhere, is still investing in its fast-growing Russian mortage bank, the bank's co-president was quoted as saying in a newspaper interview. (Wed, 04 Jun 2008 09:13:13 GMT)

Ahead of the Bell: Mortgage Applications
Industry data to be released Wednesday will show whether home loan applications fell for the third straight week as a bump in interest rates deterred borrowers. (Wed, 04 Jun 2008 10:10:06 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Wed, 04 Jun 2008 10:24:55 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Wed, 04 Jun 2008 10:25:28 GMT)

PHH Mortgage Corporation Purchases a License under the Ronald A. Katz Technology Licensing, L.P. Patents
LOS ANGELES, BUSINESS WIRE -- PHH Mortgage Corporation, based in Mount Laurel, New Jersey, has purchased a license under the patent portfolio held by Ronald A. Katz Technology Licensing, L.P. and licensed through its affiliate, A2D , L.P. (Wed, 04 Jun 2008 10:46:29 GMT)

Mortgage applications index hits 6-year low: MBA
U.S. mortgage applications fell for a third consecutive week, reaching its lowest level in over six years as demand for home refinancing loans plunged, an industry group said on Wednesday. (Wed, 04 Jun 2008 11:02:03 GMT)

Mortgage application volume slips as rates rise
Mortgage application volume fell 15.3 percent during the week ended May 30, according to the trade group Mortgage Bankers Association's weekly application survey. (Wed, 04 Jun 2008 11:20:11 GMT)

U.S. MBA's Mortgage Applications Index Fell 15.3% Last Week
June 4 (Bloomberg) -- Mortgage applications in the U.S. last week dropped to the lowest level in six years, reflecting less refinancing as interest rates jumped. (Wed, 04 Jun 2008 11:28:15 GMT)

Mortgage applications fell 15.3% last week: MBA
Mortgage applications filed last week fell a seasonally adjusted 15.3% compared with the week before, mainly due to a decrease in refinance applications, the Mortgage Bankers Association reported on Wednesday. (Wed, 04 Jun 2008 11:34:43 GMT)

U.S. mortgage applications index hits 6-year low
Demand for home refinancing loans plunges (Wed, 04 Jun 2008 11:52:17 GMT)

ResCap extends debt swap deadline to 9 a.m. EDT
Residential Capital LLC, GMAC's struggling mortgage lending unit, said Wednesday it is extending the deadline for bondholders to swap $14 billion of notes to 9 a.m. EDT, in a move to restructure debt obligations and stave off bankruptcy. (Wed, 04 Jun 2008 12:00:44 GMT)

Mortgage application volume slips as rates rise
Mortgage application volume fell 15.3 percent during the week ended May 30, according to the trade group Mortgage Bankers Association's weekly application survey. (Wed, 04 Jun 2008 13:04:16 GMT)

In wake of home crisis: buyer education
Concerned by foreclosures but keen to take advantage of sliding home prices, a growing number of prospective buyers in the United States are signing up for a different kind of class: home-buyer education. (Wed, 04 Jun 2008 13:10:28 GMT)

Ed McMahon Facing Foreclosure On Home
The man who was Johnny Carson's sidekick on "The Tonight Show" is reportedly fighting to avoid foreclosure on his multimillion-dollar home. (Wed, 04 Jun 2008 13:27:45 GMT)

MetLife unit buys First Horizon mortgage business
A subsidiary of MetLife Inc. on Wednesday said it will buy the residential mortgage business of a unit of First Horizon National Corp., including more than 230 retail and wholesale offices nationwide. (Wed, 04 Jun 2008 13:29:49 GMT)

Mortgage applications slip as rates rise
According to the Mortgage Bankers Association's weekly application survey, volume fell 15.3% during the week ended May 30. (Wed, 04 Jun 2008 13:58:56 GMT)

First-home buyers cash boost
EXCLUSIVE: EXTRA financial help for first-home buyers will be a key pledge in Treasurer Kevin Foley's seventh SA Budget today. (Wed, 04 Jun 2008 14:12:55 GMT)

Mortgage applications decline during week
The volume of applications for U.S. mortgages decreased last week, falling a seasonally adjusted 15.3 percent, an industry group said Wednesday.The Market Composite Index, which measures mortgage loan application volume, was 502.3 compared to 693.3 a week earlier, the Mortgage Bankers Association said in a release.The Refinance Index fell 25.7 percent to 1,496.1 from 2,013.5 the previous week, ... (Wed, 04 Jun 2008 14:34:39 GMT)

Metlife Buys Mortgage Business From First Horizon (Update3)
June 4 (Bloomberg) -- MetLife Inc. , the largest U.S. life insurer, agreed to buy a residential mortgage business from First Horizon National Corp. , expanding its bet on the U.S. housing market. (Wed, 04 Jun 2008 14:58:10 GMT)

Mortgage Applications Hit 6-Year Low
(RTTNews) - Mortgage application volume continued to fall during the week of May 30, according to the Mortgage Bankers Association's weekly applications survey. (Wed, 04 Jun 2008 15:12:17 GMT)

Mortgage brokers face industry upheaval
Mortgage broker Richard Hobson was astonished when he set up shop in Seattle last year after learning his trade in the tightly regulated UK market. (Wed, 04 Jun 2008 15:29:49 GMT)

Call To Save Your Home
With the rising cost of living, predatory lending and adjustable rate mortgages, home foreclosures have become a national problem. But having problems paying your loan doesn't mean you have to lose your home. (Wed, 04 Jun 2008 16:44:54 GMT)

Nursing home seeking $460,000 loan
URBANA – Champaign County's nursing home will come asking the county board for a $460,000 loan Thursday night, and it will probably get it, but not without a fight. The nursing home's litany of bad luck is familiar by now: cost overruns, a nursing shortage that requires more expensive agency nursing, an operating deficit that's often $100,000 a month, and now a state inspection that not only ... (Wed, 04 Jun 2008 18:09:52 GMT)

Nursing home seeking $460,000 loan
URBANA – Champaign County's nursing home will come asking the county board for a $460,000 loan Thursday night, and it will probably get it, but not without a fight. The nursing home's litany of bad luck is familiar by now: cost overruns, a nursing shortage that requires more expensive agency nursing, an operating deficit that's often $100,000 a month, and now a state inspection that not only ... (Wed, 04 Jun 2008 18:12:29 GMT)

First Horizon shares rise on sale of mortgage unit
Shares of First Horizon National Corp. rose Wednesday as the regional bank agreed to sell its residential mortgage business to a subsidiary of MetLife Inc. (Wed, 04 Jun 2008 18:27:46 GMT)

Timbers acquire Bryan Jordan on loan from LA Galaxy
Associated Press - June 4, 2008 2:25 PM ET PORTLAND, Ore. (AP) - The Portland Timbers have announced the club has acquired forward Bryan Jordan on loan from Major League Soccer's Los Angeles... (Wed, 04 Jun 2008 18:31:39 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? (Wed, 04 Jun 2008 18:35:53 GMT)

GMAC, ResCap get $60B refinancing, funding package
GMAC LLC said Wednesday it completed a more than $60 billion refinancing and funding package aimed at improving the liquidity of its struggling subsidiary, mortgage lender Residential Capital LLC. (Wed, 04 Jun 2008 19:19:39 GMT)

Timbers Acquire Bryan Joran on Loan from Galaxy
PORTLAND, Ore. - The Portland Timbers announced today the club has acquired forward Bryan Jordan on loan from Major League Soccer's Los Angeles Galaxy. Jordan will be in uniform for the Timbers' home match on Thursday against the Minnesota Thunder pending United Soccer Leagues approval. (Wed, 04 Jun 2008 19:24:06 GMT)

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