Mortgage News Jun 2008

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Nigeria: FG Begins Reform of Mortgage System
The Federal Government has said it has embarked on reform of its mortgage system, to make it more effective and result-oriented in tackling Ngerians growing housing needs. (Mon, 09 Jun 2008 12:30:03 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, 09 Jun 2008 13:06:35 GMT)

BBAC Launches the BBAC expatriate housing loan
09 June 2008 BBAC recently launched the BBAC expatriate housing loan, strongly committing its efforts to ease Lebanese nationals return back to the homeland. (Mon, 09 Jun 2008 13:55:57 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, 09 Jun 2008 14:08:10 GMT)

Time is right to lock in a fixed-rate mortgage
If you have an adjustable or interest-only mortgage, now is the time to consider refinancing to a fixed-rate mortgage. (Mon, 09 Jun 2008 14:11:11 GMT)

Program would use York City school tax money for historic home improvements
A newly proposed grant and loan program that would help property owners improve historic homes could become part of an effort to shift tax money from York City School District to the city government. (Mon, 09 Jun 2008 15:15:47 GMT)

Commercial mortgage group spent $180,000 lobbying
The Commercial Mortgage Securities Association, which represents buyers and sellers of investments backed by commercial real estate loans, spent $180,000 to lobby the federal government in the first quarter. (Mon, 09 Jun 2008 15:17:51 GMT)

US Pending Home Sales Climb In April; Down 13% On Year
WASHINGTON -(Dow Jones)- A forecasting gauge of home sales climbed to its highest level in six months during April, given a lift by bargain hunters. The National Association of Realtors' index for pending sales of previously owned homes rose 6.3% to 88.2 from March, the industry group said Monday. (Mon, 09 Jun 2008 15:23:08 GMT)

Fighting Mortgage Fraud
The South Carolina Attorney General and Department of Consumer Affairs are partenering to fight mortgage fraud. This morning the two offices had a news conference to announce their efforts, which will include a special Mortgage Fraud Hotline. (Mon, 09 Jun 2008 15:51:00 GMT)

Take A Break With A Mortgage Holiday
Flexibility in your mortgage means you can have the summer off your repayments. (Mon, 09 Jun 2008 16:30:51 GMT)

Watchdog bans four mortgage brokers
The City watchdog revealed it had banned four mortgage brokers for submitting false information to lenders. (Mon, 09 Jun 2008 17:06:41 GMT)

Four mortgage brokers are banned
A crackdown by a regulator on mortgage fraud has led to four more brokers being banned from operating. (Mon, 09 Jun 2008 18:00:19 GMT)

Nick Carey: In wake of home crisis comes 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 home-buyer education. (Mon, 09 Jun 2008 18:55:45 GMT)

Daryl Miller pleads guilty to wire fraud in mortgage scheme
Daryl Miller pleaded guilty to wire fraud for selling two properties and then, after he no longer owned these properties, taking out a mortgage against one, and selling the other for a second time, U.S. Attorney Catherine Hanaway announced Monday. (Mon, 09 Jun 2008 19:18:00 GMT)

Home-loan programs planned
The U.S. Department of Agriculture Rural Development will offer two home-loan information programs from 7 to 9  p.m. Thursday  at the Marshall Town Hall, 2651 Route 12B in Deansboro and from 7 to 9 p.m. Wednesday, June 18, at the Trenton Town Hall, 8520 Old Poland Road in Barneveld. (Mon, 09 Jun 2008 19:39:04 GMT)

There are no Dumb Mortgage Questions
(ARA) - The old saying, "The only dumb question is the one you don't ask" couldn't be more true when it relates to your mortgage. The more you ask, the more you know. And the more you know, the better decisions you'll make when getting a mortgage. (Mon, 09 Jun 2008 20:02:42 GMT)

Nursing home board discusses consultant
URBANA – A board created to advise the Champaign County Board on its nursing home is looking into hiring a consultant. The advisory committee met this morning, and voted to hold another meeting at 7:30 a.m. Thursday at the nursing home to discuss Management Performance Associates and a potential $150,000 consulting contract. (Mon, 09 Jun 2008 20:07:21 GMT)

NC senator in default on mortgage loan
WILMINGTON, N.C. (AP) - A North Carolina state senator and her former domestic partner have defaulted on a $1.3 million mortgage on a New Hanover County home. (Mon, 09 Jun 2008 20:07:49 GMT)

N.C. Senator Defaults On Mortgage Loan
WILMINGTON, N.C. -- A North Carolina state senator and her former domestic partner have defaulted on a $1.3 million mortgage on a New Hanover County home. (Mon, 09 Jun 2008 20:17:01 GMT)

AG sues Greene County mortgage company
The Ohio Attorney General's Office has filed a lawsuit against a Greene County mortgage company alleging it has violated Ohio consumer protection laws. (Mon, 09 Jun 2008 21:29:56 GMT)

SC Starts Mortgage Fraud Hotline
South Carolina has created a new Mortgage Fraud Hotline for people who suspect they’re victims of mortgage fraud, the state's attorney general and Department of Consumer Affairs announced Monday. The number is 1-800-553-7723. (Mon, 09 Jun 2008 22:25:05 GMT)

Lender not happy putting wife's name on title
My husband wants to put my name on the deed to his house. Because he obtained the mortgage a long time before our marriage, we have been told by the mortgage company that the only way my name can be added is by refinancing. Is there any other way to add my name to the title? We are prepared to pay off the mortgage if -- and only if -- I can be on the title, too. (Mon, 09 Jun 2008 22:31:53 GMT)

Loan needs to go through different phases
Statistics will show that loan types often coincide with age categories, and by my opinion, they should. Though we often are coached into believing the standard 30-year fixed loan is the most conservative and therefore the most intelligent loan with which to purchase a home, life patterns and financial limitations often dictate otherwise. (Mon, 09 Jun 2008 22:32:34 GMT)

NZ mortgage applications rise in May-credit group
WELLINGTON, June 10 - New Zealand mortgage applications rose for the first time in three months in May, credit company Veda Advantage said on Tuesday, suggesting housing demand was showing tentative signs of recovery. (Mon, 09 Jun 2008 23:15:36 GMT)

Time is right to lock in a fixed-rate mortgage
If you have an adjustable or interest-only mortgage, now is the time to consider refinancing to a fixed-rate mortgage. Rates are low, and money is available for creditworthy borrowers in the area, said Steve Habetz, president of Threshold Mortgage Co. of Westport. (Mon, 09 Jun 2008 23:33:45 GMT)

Veda reports 5pc rise in mortgage applications
A small rise in mortgage application figures released by credit information provider Veda Advantage is being viewed as a "hint" of some stability in the housing market. (Mon, 09 Jun 2008 23:34:20 GMT)

Close Your Own Loan.com Announces the Death of the Loan Officer
The Loan Officer has met his end. (Mon, 09 Jun 2008 23:46:00 GMT)

SC Starts Mortgage Fraud Hotline
South Carolina is doing something new to protect the money...you put into your home. It announced a new mortgage fraud hotline, Monday, that will be working, starting Tuesday. Count on WJBF-TV News Channel 6's Capitol reporter Robert Kittle to show us why it's needed. (Tue, 10 Jun 2008 00:11:23 GMT)

Help available for those affected by mortgage crisis
Officials say Clovis isn’t feeling the mortgage crunch that’s squeezing other areas of the country. However, for those with homes that are in jeopardy, help is available. (Tue, 10 Jun 2008 01:19:42 GMT)

Australia's Home-Loan Approvals Drop for Third Month (Update1)
June 10 (Bloomberg) -- Australian home-loan approvals fell for a third month in April as buyers shunned the property market amid the highest borrowing costs in 12 years. (Tue, 10 Jun 2008 02:00:55 GMT)

Facing foreclosure - learn mortgage game
Mika and Kory Gassmann are not economically unsophisticated. They have had their home business, Comfort Air Heating and Cooling, located in their home on Menager Drive in Hamilton for eight years. The company is a member of the Chamber of Commerce. (Tue, 10 Jun 2008 02:28:19 GMT)

Australia: home loans fell for 3rd straight month
Demand for housing finance fell for the third straight month in April. The number of home loans issued declined 3.0%m/m (JPMorgan -3.0%, consensus -2.0%) after slumping a revised 5.7% in March (previously 6.1%). (Tue, 10 Jun 2008 02:32:49 GMT)

Australia's Home-Loan Approvals Drop for Third Month (Update2)
June 10 (Bloomberg) -- Australian home-loan approvals fell for a third month in April as buyers shunned the property market after borrowing costs rose to a 12-year high. (Tue, 10 Jun 2008 03:31:10 GMT)

Track rates, closing costs to avoid overpaying on a home
Even in a buyer's market, you could end up paying more than you expected for a new house. Let's look at two factors that could raise the cost of buying a home and how to avoid them. (Tue, 10 Jun 2008 03:40:07 GMT)

Hot line targets mortgage fraud
The foreclosure crisis is bringing a rise in fraud schemes that are hurting people who already are down on their luck. But a new hot line announced Monday designed to cut down on mortgage fraud of all types is expected to help stem the tide. Mortgage fraud, once rampant in South Carolina, had been down significantly in the state until the subprime meltdown and nationwide foreclosure crisis that ... (Tue, 10 Jun 2008 04:11:42 GMT)

NC senator defaults on mortgage loan
A North Carolina state senator and her former domestic partner have defaulted on a $1.3 million mortgage on a New Hanover County home. Sen. Julia Boseman and Melissa Jarrell have failed to pay the $7,156 monthly payments since last August, according to evidence at a court hearing last week. The home is now scheduled to be auctioned June 25 at the county courthouse, the Star-News of Wilmington ... (Tue, 10 Jun 2008 04:16:19 GMT)

Hybrid home loans: Are they for you?
Whenever you applied for a home loan the bank or their agents gave you two options: Fixed or floating. Now you can also opt for a mix of both. (Tue, 10 Jun 2008 07:34:16 GMT)

Home buying The debate over 15- vs. 30-year mortgage
With housing prices down and mortgage rates at historic lows, buying activity has increased. Clearly it's less expensive to buy now than when rates go back up. (Tue, 10 Jun 2008 08:02:50 GMT)

VA, Congress move to help veterans in mortgage mess
With thousands of service members and veterans having lost homes or facing foreclosure as the mortgage crisis continues, lawmakers are pushing legislation to raise VA loan ceilings, lower VA funding fees and expand the VA’s ability to help veterans to refinance loans they can’t afford. (Tue, 10 Jun 2008 08:10:42 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? (Tue, 10 Jun 2008 08:15:11 GMT)

Mortgage funds shaken by housing downturn
Some investors in Estate Financial, a Paso Robles lender whose permit to run a multimillion-dollar mortgage fund was revoked by the state, are eager to meet 10 a. (Tue, 10 Jun 2008 08:35:08 GMT)

BBAC launches the BBAC expatriate housing loan
BBAC recently launched the BBAC expatriate housing loan, strongly committing its efforts to ease Lebanese nationals return back to the homeland. (Tue, 10 Jun 2008 08:42:41 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, 10 Jun 2008 08:57:58 GMT)

Paying off a mortgage requires care
Many people look forward to the day they own their homes free and clear. But gathering the money to pay off the mortgage is only part of the process. It’s also important to make sure all the paperwork is in order. (Tue, 10 Jun 2008 10:03:34 GMT)

Committee passess mortgage help bill
A state Senate committee Monday approved two measures aimed at easing mortgage-market problems for people who took out home loans they can no longer afford to repay as real estate values are dropping. (Tue, 10 Jun 2008 10:04:56 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? (Tue, 10 Jun 2008 10:21:27 GMT)

Mortgage lending: Cost of borrowing keeps rising
New borrowers hit with rising mortgage rates, the Bank of England says (Tue, 10 Jun 2008 10:24:33 GMT)

FHA Loans Emerge From the Sidelines
For the past few months, nearly every loan that Laura Triplett has closed for customers at SunTrust Mortgage has been backed by the Federal Housing Administration. (Tue, 10 Jun 2008 10:41:35 GMT)

Mortgage costs continue to rise
Mortgage rates for new borrowers continued to rise during May despite interest rates being kept on hold, new figures showed. (Tue, 10 Jun 2008 11:24:02 GMT)

Wife jailed after taking out loan to hire hitman to kill her husband
A care worker was jailed for seven years today for taking out a home-improvements loan to pay a hitman to kill her husband so she could pocket an insurance payout. (Tue, 10 Jun 2008 11:41:43 GMT)

Mortgage Network Expands National Wholesale Operations
DANVERS, Mass.----Mortgage Network, Inc., the largest independent mortgage company in the Northeast, also known in some states as MNET Mortgage Corporation, today unveiled expansion plans for its wholesale operations in North Carolina, South Carolina, Tennessee, Georgia and Alabama. (Tue, 10 Jun 2008 12:00:00 GMT)

Wife who took out loan to hire hit man jailed
A bored wife who took out a home improvement loan to hire a hit man to kill her husband so that she could pocket his life assurance has been jailed for seven years. (Tue, 10 Jun 2008 12:25:16 GMT)

Mortgage rates could hit 7 per cent later this year, economists warn
Mortgage rates for new borrowers could hit 7 per cent later this year, as the credit crisis worsens, economists are warning. (Tue, 10 Jun 2008 12:40:15 GMT)

Stubborn mortgage rates stay above 6%
The Federal Reserve has aggressively cut interest rates. Houses are sitting around unsold. The stage appears to be set for mortgage rates to fall as lenders compete to attract that scarce quarry: the well-qualified home buyer. (Tue, 10 Jun 2008 13:34:16 GMT)

Home-loan numbers fall to 17-month low
THE spectre of further interest rate rises is being blamed for weaker-than-expected housing market figures, with the number of home loans written in April falling to a 17-month low. (Tue, 10 Jun 2008 14:00:00 GMT)

Home-loan numbers fall to 17-month low
THE spectre of further interest rate rises is being blamed for weaker-than-expected housing market figures, with the number of home loans written in April falling to a 17-month low. (Tue, 10 Jun 2008 14:00:00 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, 10 Jun 2008 14:18:54 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, 10 Jun 2008 14:19:07 GMT)

Columbus-based mortgage company to hire 75-100 people in third quarter
Columbus-based mortgage broker Residential Finance Corp. will hire between 75 and 100 people during the third quarter, the company announced today. Most will be mortgage-banking positions at its Columbus headquarters and at its Tampa, Fla., location. (Tue, 10 Jun 2008 15:02:14 GMT)

S.C. agencies team up to fight mortgage fraud
COLUMBIA -- The South Carolina Consumer Affairs Department is teaming up with the state attorney general to help residents spot and fight mortgage fraud. (Tue, 10 Jun 2008 16:32:12 GMT)

N.S. expands hospital bed loan program
Another 758 portable hospital beds will be available to Nova Scotians who wish to recover from an injury or die at home. (Tue, 10 Jun 2008 17:02:15 GMT)

Mortgage applications on the rise
A small rise in mortgage application figures released by credit information provider Veda Advantage is being viewed as a "hint" of some stability in the housing market. (Tue, 10 Jun 2008 17:38:39 GMT)

New hotline targets mortgage fraud
WHAT: Stop Mortgage Fraud hot line (Tue, 10 Jun 2008 18:18:41 GMT)

Double whammy for home owners are thousands face negative equity and mortgage costs hit 8-year high
Fixed-rate mortgage costs have leapt to an eight-year high in the face of plunging house prices that are also pushing more than 23,000 towards negative equity. Bank of England figures reveal mortgage rates for new borrowers show no sign of falling. (Tue, 10 Jun 2008 18:29:28 GMT)

NJ man accused of $80M mortgage fraud
The man who founded NJ Affordable Homes Corp. has been arrested and accused of cheating investors and mortgage lenders out of about $80 million. (Tue, 10 Jun 2008 19:02:59 GMT)

S.C. agencies team up to fight mortgage fraud
COLUMBIA -- The South Carolina Consumer Affairs Department is teaming up with the state attorney general to help residents spot and fight mortgage fraud. (Tue, 10 Jun 2008 19:39:28 GMT)

Mortgage-rescue scams may sink homeowners facing foreclosure
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! And Receive a 7 Day Vacation." (Tue, 10 Jun 2008 20:11:51 GMT)

Divorcee is wise to wipe her name from mortgage
Q:My ex-husband and I bought a house in 1995. We divorced in 1999, and pursuant to our divorce decree, he kept the house and I moved out. We both remarried in 2000. My new husband and I have a new mortgage on our home, after fighting to prove to the lender that my ex has the previous house. (Tue, 10 Jun 2008 20:22:11 GMT)

Mortgage brokers face tougher lending rules
More than a year after the subprime-lending collapse, mortgage brokers on the front lines are still contending with a blitz of industry changes that are making it harder for them to earn a living. (Tue, 10 Jun 2008 22:04:10 GMT)

More banks cut fixed mortgage rates
ANZ Bank, National Bank, TSB Bank and Kiwibank have all moved to cut their fixed mortgage rates. The moves come in the wake of the cuts by ASB and Westpac last week which followed the Reserve Bank's flagging of an Official Cash Rate cut later this year. (Tue, 10 Jun 2008 22:18:51 GMT)

Ex-WaMu workers tapped for their mortgage expertise
Even in the midst of bad news about the housing market, KeyBank, Wells Fargo and JPMorgan Chase want to expand mortgage lending, and they're hiring former WaMu employees to do it. (Tue, 10 Jun 2008 23:08:46 GMT)

The Mortgage Clinic: 'I need to remortgage – but have no equity'
'I bought my first flat in 2006 and took out a two-year fix for 5.9 per cent, as it was a near-100 per cent loan with Northern Rock. I need to remortgage and have barely any equity in my property; my loan-to-value is still 97 per cent. Where am I going to get a mortgage? Do I have any choice other than to go on to Northern Rock's SVR?' HR, Newcastle (Tue, 10 Jun 2008 23:14:25 GMT)

Wife who took loan to pay for hitman jailed
Care worker who took out a home improvement loan to pay for a hitman to kill her husband is jailed for seven years (Tue, 10 Jun 2008 23:24:28 GMT)

On Your Side: Mortgage Fraud Hotline
The mortgage crisis is reach epidemic levels. And mortgage fruad is a big part of the problem, but help could be on the way. South Carolina is providing some help to fight it. (Tue, 10 Jun 2008 23:58:07 GMT)

Trial in mortgage fraud case continued to July
The federal trial date for three area people accused of conspiring to defraud a mortgage broker out of about $3.5 million has been continued in U.S. District Court in Covington, Ky. (Wed, 11 Jun 2008 00:46:45 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, 11 Jun 2008 00:47:35 GMT)

Unity Temple faces foreclosure: Building project stalled over loan dispute
SANTA CRUZ - Unity Temple of Santa Cruz, which undertook a $1.6 million construction project to support a revitalized congregation and youth ministry expansion, is losing its minister and facing possible foreclosure on its property due to a disputed loan agreement that seems to have fallen through. (Wed, 11 Jun 2008 01:09:07 GMT)

Paying off a mortgage alone
Q. I am 40 years of age and recently widowed. I have a mortgage of $287,000. I earn $50,000 and have $70,000 left over from my late husband's estate. As I am left with a considerable mortgage to manage on my own, would it be best to sell/rent or put this money to my home loan? (Wed, 11 Jun 2008 01:59:37 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, 11 Jun 2008 02:57:38 GMT)

Mortgage fraud high in Mich., FBI says
According to a recently released FBI report compiling various measures of fraud, Michigan ranked as low as third and as high as first in the United States for incidences of mortgage fraud, exacerbating the state's already high rate of foreclosures. (Wed, 11 Jun 2008 05:19:36 GMT)

Home Credit & Finance sets guidance on loan note-lead
LONDON, June 11 - Home Credit and Finance Bank, one of Russia's top consumer lending specialists, has set yield guidance on a three-year loan participation note at around 11 percent, sole lead manager Citi said on Wednesday. (Wed, 11 Jun 2008 08:00:21 GMT)

Home Credit & Finance sets guidance on loan note-lead
LONDON, June 11 - Home Credit and Finance Bank, one of Russia's top consumer lending specialists, has set yield guidance on a three-year loan participation note at around 11 percent, sole lead manager Citi said on Wednesday. (Wed, 11 Jun 2008 08:00:21 GMT)

Mortgage brokers face tougher lending rules
More than a year after the subprime-lending collapse, mortgage brokers on the front lines are still contending with a blitz of industry changes that are making it harder for them to earn a living. (Wed, 11 Jun 2008 08:21:18 GMT)

FSA steps in to support £400m B&B refinancing
Bradford & Bingley’s £11.1bn (€14bn) mortgage securitisation programme has come under threat following credit rating downgrades that have forced the bank into an “outright breach” of selected funding requirements, according to analysts. (Wed, 11 Jun 2008 09:49:29 GMT)

Newly Launched Clean Up Real Estate Protects Home Buyers and Mortgage Refinancing Customers with Immediate Solution to ...
Consumers don't have to wait for the Senate to pass the "SAFE Mortgage Licensing Act" to be protected from abusive mortgage practices. Clean Up Real Estate (CURE) standards and mortgage monitoring already provides borrower protection on each and every loan. (Wed, 11 Jun 2008 10:00:00 GMT)

Newly Launched Clean Up Real Estate Protects Home Buyers and Mortgage Refinancing Customers with Immediate Solution to ...
PALM SPRINGS, Calif.----Clean Up Real Estate , a newly launched California consumer advocacy group, has an immediate solution to mortgage woes. While the Government searches for a way to prevent predatory lending practices; CURE actively prevents predatory lending and deceptive loan practices. (Wed, 11 Jun 2008 10:00:00 GMT)

Newly Launched Clean Up Real Estate Protects Home Buyers and Mortgage Refinancing Customers with Immediate Solution to ...
Consumers don't have to wait for the Senate to pass the "SAFE Mortgage Licensing Act" to be protected from abusive mortgage practices. Clean Up Real Estate (CURE) standards and mortgage monitoring already provides borrower protection on each and every loan. (PRWeb Jun 11, 2008) Read the full story at http://www.prweb.com/releases/Clean_Up_Real_Estate/Home_Buyers/prweb996534.htm (Wed, 11 Jun 2008 10:07:00 GMT)

Ahead of the Bell: Mortgage Applications
Industry data to be released Wednesday will show whether home loan applications fell for the fourth straight week as a bump in mortgage interest rates deterred borrowers. (Wed, 11 Jun 2008 10:15:11 GMT)

South Africa: Banks Tighten Discount Screws On Home Buyers
BANKS have cut the discount on prime lending rates at which they offer home loans, making it more difficult for hard-pressed consumers to access housing bonds, according to the CEO of home loan provider Integer. (Wed, 11 Jun 2008 10:35:00 GMT)

Negative equity: Mortgage lenders seek transparency over valuations
Council of Mortgage Lenders wants to safeguard against new-build properties falling into negative equity (Wed, 11 Jun 2008 10:54:08 GMT)

Mortgage applications rise in latest week: MBA
Mortgage applications rose after falling for three straight weeks, bouncing back from the lowest level in more than six years and overcoming a rise in home loan rates, an industry trade group said on Wednesday. (Wed, 11 Jun 2008 11:06:39 GMT)

BMI launches new mortgage loan range
Bahrain based BMI Bank unveiled its enhanced mortgage loan range designed to serve the needs of all retail customers with property finance needs. (Wed, 11 Jun 2008 11:12:01 GMT)

Mortgage application volume rises 10.9 percent
Mortgage application volume rose 10.9 percent during the week ending June 6, rebounding from a sharp decline one week earlier, according to the Mortgage Bankers Association's weekly application survey. (Wed, 11 Jun 2008 11:14:01 GMT)

Mortgage applications rose 10.9% last week: MBA
Mortgage applications in the week ended June 6 rise 10.9% on a seasonally adjusted basis compared to the final week of May, even as interest rates charged on fixed- and adjustable-rate mortgages rise. (Wed, 11 Jun 2008 11:19:51 GMT)

Mortgage applications show rebound
Mortgage Bankers Association reports 10.9% rise in applications for week of June 6. (Wed, 11 Jun 2008 11:47:49 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? (Wed, 11 Jun 2008 12:26:42 GMT)

U.S. MBA's Mortgage Applications Index Rose 10.9% Last Week
June 11 (Bloomberg) -- Mortgage applications in the U.S. last week rose from their lowest level in six years, led by a gain in purchase applications that may indicate the drop in property values is starting to draw buyers. (Wed, 11 Jun 2008 12:31:27 GMT)

Mild opening rise on M&A deal, mortgage index uptick
Small-cap stocks are expected to open slightly higher, underpinned by bargain hunters amid short-term oversold conditions, acquisition news on the large-cap front and an uptick in mortgage... (Wed, 11 Jun 2008 13:05:23 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, 11 Jun 2008 13:42:29 GMT)

Mortgage applications rise during week
The volume of applications for U.S. mortgages increased last week, rising a seasonally adjusted 10.9 percent over a week earlier, an industry group said.The Market Composite Index, which measures mortgage loan application volume, was 557.1 in the week ending June 6, compared to the previous week's index of 502.3, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index ... (Wed, 11 Jun 2008 14:44:26 GMT)

US mortgage application volume up 10.9%
US mortgage applications bounced back from their lowest level in six years helped by a gain in purchase and refinance loans. (Wed, 11 Jun 2008 16:25:00 GMT)

U.S. comptroller: Mortgage-related credit 'stable' at big banks
Mortgage servicing of the nation’s nine largest banks shows credit quality that is “relatively satisfactory and relatively stable” over the last two quarters, the Office of the Comptroller of the Currency says. (Wed, 11 Jun 2008 17:20:05 GMT)

HBOS shares drop 11 percent after trading update
Shares in British bank HBOS, the nation's biggest home loan provider, plunged by more than 11 percent on Wednesday after it attempted to reassure investors about its planned rights issue and trading. (Wed, 11 Jun 2008 17:45:25 GMT)

Woman admits she Ok'd fraudulent loan applications in Columbus mortgage scam
A Michigan woman admitted today that she approved fraudulent mortgage loan applications for Columbus homes and might have been responsible for as much as $1 million in losses. (Wed, 11 Jun 2008 17:48:21 GMT)

Barack Obama's Mounting Ethical Tone Deafness, Now With Jim Johnson's Mortgage Scandal
The Illinois senator has tapped someone mired in the mortgage crisis to help him find a VP. (Wed, 11 Jun 2008 18:11:13 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, 11 Jun 2008 18:18:06 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, 11 Jun 2008 18:47:24 GMT)

Mortgage Scam Artist Who Helped Authorities Gets Prison
This morning, a federal judge in Tampa sentenced 28-year-old Luis Uribe Of Apollo Beach to 8 1/2 years in federal prison and five years of probation for wire fraud and identity theft for a mortgage scam. (Wed, 11 Jun 2008 19:11:29 GMT)

Economy - Wednesday
U.S. applications rebounded from 3 straight declines to a 6-year low, climbing 10.9% in the week ended June 6, the Mortgage Bankers Association said. Applications for loans to buy a home jumped 12.8% from the prior week's 5-year low. Refinance activity rose 8.4%. Loan demand grew even though the 30-year fixed-rate mortgage rose to 6.24%. The 15-year fixed rate rose to 5.78%. (Wed, 11 Jun 2008 22:48:04 GMT)

Banks move to lower mortgage rates
A fall in mortgage rates which started with last week's Reserve Bank statement has now seen a widespread move by banks to lower rates. (Wed, 11 Jun 2008 22:54:53 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? (Wed, 11 Jun 2008 23:26:31 GMT)

Stephens, Columbia College cut from Citibank and PNC Bank student loan programs
COLUMBIA — Usually, students choose universities based on location, reputation and degree programs. But this fall, some students may be forced to base their decisions largely on where they can receive a student loan. (Wed, 11 Jun 2008 23:55:48 GMT)

Bedford School Board plans to refinance Riddle Brook School bond
BY STEPHEN BEALE The school district is planning to refinance the construction bond for Riddle Brook School, saving money on lower interest rates and possibly setting a precedent for what it will eventually do with its other bonds. The School Board will hold a hearing on the refinancing at its regular meeting on Monday, June 16, at 7 p.m., at the school district office, 103 County ... (Thu, 12 Jun 2008 00:01:30 GMT)

Jeremy Warner's Outlook: Stable doors and mortgage fraud
Horses and stable doors come to mind in considering new proposals from the Council of Mortgage Lenders on cracking down on mortgage fraud. From September, lenders will begin requiring property developers to start disclosing any incentives or discounts they have offered buyers of new-build properties. (Thu, 12 Jun 2008 00:08:04 GMT)

Lenders accused of charging 'horrendous' fees to take out mortgage
The number of lenders charging 'horrendous' fees to take out a mortgage has rocketed over the last 18 months. (Thu, 12 Jun 2008 02:27:46 GMT)

WHITTINGTON: Gorman versus Gorman in mortgage lawsuit
After May 19, mortgage company founders Mark and Deborah Gorman probably ceased being "kissing cousins." (Thu, 12 Jun 2008 02:43:59 GMT)

PEP board OKs P30-M loan to online gaming firm
Publicly-listed Premiere Entertainment Productions Inc. (PEP) said Thursday its board has approved the extension of a P30-million loan to Digiwave Solutions Inc., a local online gaming and software developer it is acquiring. (Thu, 12 Jun 2008 03:17:18 GMT)

Man at center of mortgage scheme faces charge
Jeremy Richardson is accused of bilking people out of their money by coaxing them into buying homes in a 'lease to own' plan.  The victims say he spent their money and they lost their homes when the mortgage payments weren't paid. (Thu, 12 Jun 2008 03:27:13 GMT)

HDFC to review home loan rates by end-June
MUMBAI (Reuters) - Indian mortgage firm Housing Development Finance Corp will take a decision on raising interest rates on home loans by end of this month, its chairman Deepak Parekh said on Thursday. (Thu, 12 Jun 2008 03:58:07 GMT)

FBI Halts Some Financial Cases to Investigate Mortgage Fraud
June 12 (Bloomberg) -- The U.S. Federal Bureau of Investigation, confronting a surge in mortgage fraud, has ordered more than two dozen of its field offices to stop probing some financial crimes so agents can focus on the subprime crisis. (Thu, 12 Jun 2008 04:31:37 GMT)

Mortgage applications jump from historic low
Mortgage applications in the U.S. last week rose from their lowest level in six years, led by a gain in purchase applications that may indicate the drop in property values is starting to draw buyers. (Thu, 12 Jun 2008 05:27:10 GMT)

Why you will soon pay more on your home loan
The Reserve bank of India has just increased its repo rate and there are chances that banks may soon increase the interest rates on home loans. (Thu, 12 Jun 2008 07:19:05 GMT)

Bahrain: BMI enhances home loan range
12 June 2008 Bahrain based BMI Bank yesterday unveiled its enhanced mortgage loan range designed to serve the needs of all retail customers with property finance needs. (Thu, 12 Jun 2008 07:24:34 GMT)

Ex-loan officer pleads guilty
A Michigan woman admitted yesterday that she approved fraudulent mortgage-loan applications for Columbus homes and might have been responsible for as much as $1 million in losses. (Thu, 12 Jun 2008 08:04:04 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? (Thu, 12 Jun 2008 08:18:03 GMT)

Mortgage Investors to Chip In for Homeowners' Counseling
Mortgage investors are rolling out a plan to pay housing counselors who assist troubled homeowners in avoiding foreclosure. (Thu, 12 Jun 2008 08:20:59 GMT)

Staybridges loan to transfer to new owner
A downtown hotel will hold onto a city loan while it is converted into a seniors home. Staybridges Suites on Market Street is expected to become a retirement residence in less than two years. (Thu, 12 Jun 2008 08:40:33 GMT)

Small rebound in mortgage lending
Mortgage lending in April was up slightly from March, but was still down sharply on last year, lenders say. (Thu, 12 Jun 2008 08:51:57 GMT)

Bahrain's BMI enhances home loan range
Bahrain's BMI enhances home loan range (Thu, 12 Jun 2008 09:16:41 GMT)

Xceed Mortgage Reports Fiscal 2008 Second Quarter
Xceed Mortgage Corporation , a Canadian provider of insured mortgages, today announced its financial results for the fiscal 2008 second quarter ended April 30, 2008. All references to quarters or years are for the fiscal periods and all currency amounts are in Canadian dollars unless otherwise noted. (Thu, 12 Jun 2008 09:55:00 GMT)

Mortgage insurers try to reduce foreclosures
Homeowners and lenders aren't the only losers in foreclosure. Mortgage insurers have a lot at stake too -- and they do a variety of things to keep people in their houses. (Thu, 12 Jun 2008 10:00:00 GMT)

Thornburg Mortgage posts $3.31 billion loss
Thornburg Mortgage Inc , a specialist in jumbo home loans that nearly collapsed in March, on Thursday posted a $3.31 billion first-quarter loss as the value of securities it owns declined. (Thu, 12 Jun 2008 10:15:24 GMT)

Thornburg Mortgage falls to $3.31 billion 1st-quarter loss, sees more delinquencies this year
SANTA FE, N.M. (AP) - Embattled mortgage lender Thornburg Mortgage has reported a $3.31 billion loss for the first quarter, and says loan delinquencies are likely to continue to increase "modestly" for the rest of the year. (Thu, 12 Jun 2008 11:04:44 GMT)

Thornburg Mortgage swings to $3.31 billion 1Q loss
Thornburg Mortgage Inc. said Thursday it swung to a $3.31 billion loss in the first quarter, and expects loan delinquencies to continue to increase "modestly" for the rest of the year. Before paying preferred dividends, Thornburg lost $3.31 billion, or $20.64... (Thu, 12 Jun 2008 11:10:23 GMT)

Thornburg Reports Loss of $3.31 Billion on Mortgage Writedowns
June 12 (Bloomberg) -- Thornburg Mortgage Inc. , the New Mexico lender that averted bankruptcy in April, said it lost $3.31 billion in the first quarter because of writedowns on securities linked to real estate. (Thu, 12 Jun 2008 11:16:27 GMT)

Thornburg Mortgage Swings To $3.31 Billion 1Q Loss
Embattled mortgage lender Thornburg Mortgage is reporting a $3.31 billion loss for the first quarter, and says loan delinquencies are likely to continue to increase "modestly" for the rest of the year. (Thu, 12 Jun 2008 11:17:04 GMT)

Thornburg Mortgage swings to $3.31 billion 1Q loss
Thornburg Mortgage Inc. said Thursday it swung to a $3.31 billion loss in the first quarter, and expects loan delinquencies to continue to increase "modestly" for the rest of the year. (Thu, 12 Jun 2008 11:32:26 GMT)

Thornburg Mortgage posts $3.31 billion loss
BANGALORE (Reuters) - Thornburg Mortgage Inc (TMA.N), a specialist in jumbo home loans that nearly went bankrupt in March, on Thursday posted a $3.31 billion first-quarter loss as the value of mortgages and other securities it owns plummeted. (Thu, 12 Jun 2008 11:53:17 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, 12 Jun 2008 12:49:14 GMT)

Mortgage turmoil drives Thornburg's $3.3 bln quarterly loss
Thornburg Mortgage Inc. on Thursday reported a quarterly loss of more than $3 billion as the company was hit hard by falling market values in its mortgage and loan portfolios. (Thu, 12 Jun 2008 13:05:01 GMT)

Mortgage rates at 8-month high
Rates on 30-year fixed mortgages have surged nearly a quarter percentage point to an 8-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday. (Thu, 12 Jun 2008 15:03:29 GMT)

Thornburg Mortgage posts $3.31 billion loss
Thornburg Mortgage Inc , a specialist in jumbo home loans that nearly went bankrupt in March, posted a $3.31 billion first-quarter loss on Thursday as the value of mortgages and other securities it owns plummeted. (Thu, 12 Jun 2008 15:13:06 GMT)

Babylon to 'loan' funds for home energy improvements
In an effort to help its residents consume less energy, the Town of Babylon will "loan" money to some homeowners who want to make energy-efficient renovations such as upgrading heating and cooling systems, officials said Thursday at a news conference outside a West Babylon home. (Thu, 12 Jun 2008 15:13:13 GMT)

Inflation fear sends mortgage rates to 8 month high
U.S. fixed mortgage rates surged to their highest in almost eight months after central bankers jolted financial markets with concerns of accelerating inflation. (Thu, 12 Jun 2008 16:12:59 GMT)

Inflation fear sends mortgage rates to 8 month high
NEW YORK (Reuters) - U.S. fixed mortgage rates surged to their highest in almost eight months after central bankers jolted financial markets with concerns of accelerating inflation. (Thu, 12 Jun 2008 16:49:49 GMT)

FBI Halts Some Cases to Investigate Mortgage Frauds (Update1)
June 12 (Bloomberg) -- The U.S. Federal Bureau of Investigation, confronting a surge in mortgage fraud, has ordered more than two dozen of its field offices to stop probing some financial crimes so agents can focus on the subprime crisis. (Thu, 12 Jun 2008 17:01:56 GMT)

Plan to clarify mortgage disclosures sparks ire
A single sheet of paper has the real estate industry in an uproar. Every time a potential home buyer applies for a mortgage, he or she receives a document known as the Good Faith Estimate, which spells out the thousands of dollars in fees the buyer is expected to pay when the deal closes. (Thu, 12 Jun 2008 17:55:54 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? (Thu, 12 Jun 2008 18:03:16 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? (Thu, 12 Jun 2008 18:32:20 GMT)

S&P Cuts Rating Of Federal Home Loan Bank Of Chicago
Standard & Poor's cut its counterparty credit rating on the Federal Home Loan Bank of Chicago one notch because of unprofitable hedging in its purchased mortgage portfolio and higher overhead expenses. (Thu, 12 Jun 2008 19:11:57 GMT)

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