Mortgage News Jun 2008

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$35 million mortgage fraud uncovered
GREENBELT, Md. (AP) -- Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Thu, 12 Jun 2008 19:12:01 GMT)

Some Home-Loan Delinquencies Fell, Others Rose In May
Standard & Poor's said delinquencies of home-related loans continued to climb in May, as the ratings agency again said the 2007 issuance year continues to be the worst-performing vintage in terms of cumulative losses. (Thu, 12 Jun 2008 19:42:13 GMT)

UPDATE:Some Home-Loan Delinquencies Fell, Others Rose In May
(Updates with jumbo loan data in the fourth paragraph.) Standard & Poor's said delinquencies of most home-related loans continued to climb in May, as the ratings agency again said the 2007 issuance year continues to be the worst-performing vintage in terms of cumulative losses. (Thu, 12 Jun 2008 20:11:32 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 20:45:46 GMT)

BankFive joins Mortgage Relief Initiative
In an attempt to stall the unprecedented number of home foreclosures in the state, a number of community banks, including BankFive, have joined the Mortgage Relief Initiative. (Thu, 12 Jun 2008 21:58:49 GMT)

Ranieri's Bank Shuts Mortgage-Fund Unit, Person Says (Update1)
June 12 (Bloomberg) -- Franklin Bank Corp. , the Texas bank led by founder Lewis Ranieri , is closing its unit that provides financing to mortgage bankers, according to a person familiar with the situation. (Thu, 12 Jun 2008 22:01:27 GMT)

S&P Improves Ratings Outlook for Federal Home Loan Bank of Seattle
SEATTLE----Today, the Federal Home Loan Bank of Seattle announced that Standard & Poor's Rating Services improved the Seattle Bank's ratings outlook to "positive" from "stable." The Seattle Bank has a counterparty credit rating of AA+/A-1+ from S&P and Aaa from Moody's Investors Service. (Thu, 12 Jun 2008 22:10:00 GMT)

$35 million mortgage fraud uncovered in Maryland
Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Thu, 12 Jun 2008 22:25:23 GMT)

Thornburg Mortgage Posts $3.31 Billion Loss
Before paying preferred dividends, Thornburg Mortgage lost $3.31 billion, or $20.64 a share, in contrast to a profit of $75 million, or 62 cents a share, a year earlier. (Fri, 13 Jun 2008 01:05:12 GMT)

Settlement agent guilty in mortgage fraud scheme
A former president of the National Settlement Agency pleaded guilty on Thursday to charges of stealing $13 million in refinanced mortgage loan proceeds, the U.S. Justice Department said. (Fri, 13 Jun 2008 01:32:39 GMT)

Suspects in Mortgage Fraud Scheme Indicted
Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. Federal prosecutors said Thursday that owners of the Metropolitan Money Store targeted homeowners who risked losing their homes before stripping equity from more than 100 ... (Fri, 13 Jun 2008 02:06:12 GMT)

New Home Loan Program
Unless you`ve got a lot of money in the bank, buying that first home can be a real financial struggle. A rural development program through the U.S. Department of Agriculture is designed to help, and it`s catching on in North Dakota. (Fri, 13 Jun 2008 04:10:34 GMT)

New Home Loan Program
Unless you`ve got a lot of money in the bank, buying that first home can be a real financial struggle. A rural development program through the U.S. Department of Agriculture is designed to help, and it`s catching on in North Dakota. (Fri, 13 Jun 2008 04:23:46 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? (Fri, 13 Jun 2008 04:28:20 GMT)

ALBANY'S UNWISE MORTGAGE 'FIXES'
THE Legislature is working on bills to help consumers and homeowners at risk in the subprime-mortgage crisis. New York's banking industry understands that desire - but fears that some of the measures on the table would create future problems without... (Fri, 13 Jun 2008 08:48:25 GMT)

Task force planning free mortgage clinic in Virginia Beach
VIRGINIA BEACH Homeowners who are struggling to pay the mortgage or are facing possible foreclosure can get help Saturday. A task force commissioned by Gov. Tim Kaine has scheduled a free mortgage clinic for financially troubled homeowners at Larkspur Middle School, 4696 Princess Anne R ... (Fri, 13 Jun 2008 08:49:38 GMT)

Q: Is this a good time to get a mortgage?
A: Mortgage financer Freddie Mac reported this week that 30-year rates averaged 6.27 percent with 0.8 point in the Southeast. Fifteen-year rates averaged 5.97 with 0.8 point. (Fri, 13 Jun 2008 08:59:33 GMT)

Homeowners in mortgage riddle
Is it a good time to refinance your fixed rate mortgage? That depends on who you ask (Fri, 13 Jun 2008 12:05:11 GMT)

Jumbo loan cap crimping Chicago home sales
Keeping Chicago, suburbs off priciest-places list holds guaranteed loan limit at $417,000, slows real estate recovery, local agents sayHow the Economic Stimulus Act is not helping the Chicago area's Parts of the Chicago area are expensive to call home. And a recent government decision to exclude the region from a tally of the nation's priciest areas is slowing the recovery of the local real ... (Fri, 13 Jun 2008 12:41:01 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 13 Jun 2008 13:18:35 GMT)

Sens. Dodd, Conrad tied to special mortgage deals
Senate Banking Committee Chairman Christopher Dodd reportedly received two mortgages under a special Countrywide Financial Corp. program that gave preferential interest rates to "friends" of the company's chairman. (Fri, 13 Jun 2008 14:24:27 GMT)

Sens. Dodd, Conrad tied to special mortgage deals
Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a company whose practices he has called "abusive." At least one other lawmaker, Sen. Kent Conrad, D-N.D., also benefited from the VIP treatment after ... (Fri, 13 Jun 2008 14:25:29 GMT)

$35 million mortgage fraud uncovered
GREENBELT, Md. — Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Fri, 13 Jun 2008 14:44:41 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Fri, 13 Jun 2008 14:48:35 GMT)

GMAC spent $410,000 lobbying on mortgage rules
Automotive and mortgage lender GMAC LLC spent $410,000 in the first quarter lobbying on several bills related to mortgage lending and other issues, according to a disclosure report. (Fri, 13 Jun 2008 15:09:28 GMT)

Bucking the home loan trend
BALLARAT'S Kylie Gibson has bucked a national trend and bought a home despite high interest rates. And despite a slump in the number of home loans taken out, the 20-year-old will move into her Ballarat East home next week. (Fri, 13 Jun 2008 16:08:05 GMT)

'A Rise in Delinquencies in All Loan Categories... Most Notably on Consumer Loans'
From the Federal Reserve's most recent Beige Book , regarding economic trends in the New York area in April and May: Bankers report little change in loan demand in any loan category or in refinancing activity. Respondents indicate continued tightening of credit standards across all loan categories, most evidently in the commercial mortgage category. No bankers report eased standards for ... (Fri, 13 Jun 2008 16:21:20 GMT)

Seven locals arrested in $10M mortgage fraud scam
A team of federal agents arrested seven local residents Thursday in what one Maryland official called the worst mortgage fraud scam in the state's history. (Fri, 13 Jun 2008 16:29:14 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 13 Jun 2008 17:02:56 GMT)

Mortgage Crisis
More and more U.S. homeowners are getting swept up in the mortgage crisis. (Fri, 13 Jun 2008 17:50:59 GMT)

Thornburg Mortgage Posts $3.31 Billion Loss
Before paying preferred dividends, Thornburg Mortgage lost $3.31 billion, or $20.64 a share, in contrast to a profit of $75 million, or 62 cents a share, a year earlier. (Fri, 13 Jun 2008 19:37:20 GMT)

Sens. Dodd, Conrad tied to special mortgage deals
WASHINGTON - Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a company whose practices he has called "abusive." (Fri, 13 Jun 2008 20:00:19 GMT)

Capstead Mortgage boosts dividend to 59 cents
Capstead Mortgage Corp. said Thursday its board raised its quarterly dividend by 7 cents to 59 cents. The real estate investment trust said the dividend is payable July 21 to shareholders of record June 30. (Fri, 13 Jun 2008 20:24:54 GMT)

Avoid a Scam: Thoroughly Vet Offers to 'Help' With Your Mortgage
Q: Do you recommend companies with pitches such as "we buy ugly houses" or "we pay immediate cash for your house"? What about people who knock on your door offering to assist you by paying off your mortgage, or by buying your home and allowing you to rent back until you get back on your feet? (Fri, 13 Jun 2008 21:15:07 GMT)

Loan suicide Nashik, June 13
(PTI): A 50-year-old man committed suicide at his home yesterday after being harassed by the loan-recovery agents of a financial company. (Fri, 13 Jun 2008 21:22:23 GMT)

Ellen James Martin: Think long, hard about repayment, purposes before tapping equity
Until a few years ago, it was an extremely common practice among homeowners to pull money out of their property through a “cash out” mortgage refinance. People used the funds for a huge array of purposes — from buying boats to taking lavish vacations in Hawaii. (Fri, 13 Jun 2008 22:02:32 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? (Fri, 13 Jun 2008 22:42:20 GMT)

Sens. Dodd, Conrad tied to special mortgage deals
Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a company whose practices he has called "abusive." (Fri, 13 Jun 2008 23:24:11 GMT)

$35 million mortgage fraud uncovered
GREENBELT, Md. — Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Sat, 14 Jun 2008 00:59:31 GMT)

Mortgage insurers lend a hand to save homes
Homeowners and lenders aren't the only losers in foreclosure. Mortgage insurers have a lot at stake, too -- and they're doing a variety of things to keep people in their houses. (Sat, 14 Jun 2008 01:08:57 GMT)

Relief, anger follow arrests in mortgage loan scheme
Arrests in an alleged fraud scheme elicited relieved yet angry responses from the affected homeowners When her husband left for good a few years ago, Nadine Bostic became a single mother, her income suddenly reduced by more than half. Her salary as a cosmetologist barely covered her expenses, let alone the mortgage payments on her home. (Sat, 14 Jun 2008 01:15:14 GMT)

Thornburg Mortgage Posts $3.31 Billion Loss
Before paying preferred dividends, Thornburg Mortgage lost $3.31 billion, or $20.64 a share, in contrast to a profit of $75 million, or 62 cents a share, a year earlier. (Sat, 14 Jun 2008 01:37:21 GMT)

Senators Caught in Mortgage Fallout
Members of Congress, the cabinet and celebrated advisers may have received favorable deals from Countrywide Financial, whose lax lending standards are at the center of the subprime mortgage crisis. (Sat, 14 Jun 2008 02:37:00 GMT)

$35M mortgage fraud uncovered: Eight people indicted on alleged foreclosure rescue scheme
GREENBELT - Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Sat, 14 Jun 2008 03:57:06 GMT)

Chattanooga: EPB directors OK $26.4 million fiber loan
EPB’s directors Friday approved a $26.4 million loan of electric system revenue to launch fiber to the home, the first direct outlay the utility has made to finance what would be the nation’s largest municipal telecommunications service. (Sat, 14 Jun 2008 04:09:19 GMT)

Sens. Dodd, Conrad tied to special mortgage deals
WASHINGTON — Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide... (Sat, 14 Jun 2008 04:12:39 GMT)

Ways to improve your chances to get approved for a home loan
Anyone trying to get a home loan right now will pay the price of the mortgage meltdown. Lenders have clamped down on requirements. The days of just about anyone getting approved for a home loan, with no documentation, are over. (Sat, 14 Jun 2008 04:25:45 GMT)

Senators Accused Of Taking Mortgage Deals
Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the chief executive officer of Countrywide Financial Corp., a company whose practices he has called "abusive." (Sat, 14 Jun 2008 04:49:21 GMT)

Ed McMahon?s 90210 Mortgage Crisis
Ed McMahon confirmed this month that he was facing foreclosure, quickly became a national symbol of an overspent borrower struggling with the mortgage crisis. (Sat, 14 Jun 2008 05:10:38 GMT)

Mortgage deals for senators?
Lawmakers say they didn't know they were getting special deals from mortgage companies. (Sat, 14 Jun 2008 06:05:26 GMT)

Sens. Dodd, Conrad linked to special mortgage deals
Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a (Sat, 14 Jun 2008 07:32:57 GMT)

Mortgage deals for senators?
Lawmakers say they weren't aware they received any special treatments from mortgage firms. (Sat, 14 Jun 2008 07:34:01 GMT)

Sens. Dodd, Conrad linked to special mortgage deals
Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a (Sat, 14 Jun 2008 07:35:29 GMT)

Sen. Conrad received deal on mortgage
WASHINGTON - North Dakota Sen. Kent Conrad said he personally asked the chief executive of Countrywide Financial Corp. for a mortgage loan for his vacation house, but said he never requested or expected special treatment on its terms. (Sat, 14 Jun 2008 09:25:40 GMT)

Taking Money Out of Your Home Through Refinance
Until a few years ago, it was an extremely common practice among homeowners to pull money out of their property through a "cash out" mortgage refinance. People used the funds for a huge array of purposes - from buying boats to taking lavish vacations in Hawaii. (Sat, 14 Jun 2008 10:05:53 GMT)

Relief, anger follow arrests in mortgage loan scheme
Homeowners express emotions in alleged fraud that victimized them When her husband left for good a few years ago, Nadine Bostic became a single mother, her income suddenly reduced by more than half. Her salary as a cosmetologist barely covered her expenses, let alone the mortgage payments on her home. (Sat, 14 Jun 2008 12:14:03 GMT)

Taking Money Out of Your Home Through Refinance
Until a few years ago, it was an extremely common practice among homeowners to pull money out of their property through a "cash out" mortgage refinance. People used the funds for a huge array of purposes - from buying boats to taking lavish vacations in Hawaii. (Sat, 14 Jun 2008 13:48:39 GMT)

Sens. Dodd, Conrad tied to special mortgage deals
Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a company whose practices he has called "abusive." At least one other lawmaker, Sen. Kent Conrad, D-N.D., also benefited from the VIP treatment after ... (Sat, 14 Jun 2008 14:03:22 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sat, 14 Jun 2008 16:18:09 GMT)

Senator donates money over loan deal
A North Dakota senator says he is donating $10,500 to charity and refinancing his loan on an apartment building after reviewing documents that show he received special treatment from Countrywide Financial Corp. (Sat, 14 Jun 2008 18:45:23 GMT)

Senator donates money over loan deal
A North Dakota senator says he is donating $10,500 to charity and refinancing his loan on an apartment building after reviewing documents that show he received special treatment from Countrywide Financial Corp. Sen. Kent Conrad, a Democrat, said on Saturday that it appears that Countrywide waived 1 point on his mortgage for a Bethany Beach, Del., vacation home. He said he would donate the ... (Sat, 14 Jun 2008 18:55:19 GMT)

Sen. Conrad donates money over loan deal
Senate Budget Committee Chairman Kent Conrad said Saturday he is donating $10,500 to charity and refinancing his loan on an apartment building after reviewing documents showing he received special treatment from Countrywide Financial Corp. (Sat, 14 Jun 2008 20:11:59 GMT)

Senator Conrad Says Countrywide Waived Point on His Mortgage
June 14 (Bloomberg) -- Senator Kent Conrad said he was given preferential treatment on a loan from Countrywide Financial Corp. and will write a $10,500 check to charity and refinance the mortgage. (Sat, 14 Jun 2008 20:35:28 GMT)

A loan to build my dream home
You will need to approach the lender who has submitted your name to CIBIL on account of poor performance on the credit extended by them to you. Only once you are able to regularise the credit to the satisfaction of the lender would your track record in CIBIL show a good score. (Sat, 14 Jun 2008 20:43:15 GMT)

Lock in a Cheap Mortgage Rate
Finding the best mortgage rate requires going beyond the first offer. Here's how to shop. (Sat, 14 Jun 2008 20:47:49 GMT)

Conrad Says Countrywide Waived Point on His Mortgage
June 14 (Bloomberg) -- Senator Kent Conrad said he was given preferential treatment on a loan from Countrywide Financial Corp. and will write a $10,500 check to charity and refinance the mortgage. (Sat, 14 Jun 2008 21:00:50 GMT)

Conrad Says Countrywide Waived Point on His Mortgage (Correct)
(Corrects first and third paragraphs to say that loan on eight-unit building will be refinanced.) (Sat, 14 Jun 2008 21:39:31 GMT)

Conrad Says Countrywide Waived Point on His Mortgage
June 14 (Bloomberg) -- Senator Kent Conrad said he was given preferential treatment on a mortgage from Countrywide Financial Corp. and will write a $10,500 check to charity. (Sat, 14 Jun 2008 21:53:34 GMT)

Senators Christopher Dodd and Kent Conrad tied to special mortgage deals
WASHINGTON -- Senate Banking Committee Chairman Christopher Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a company whose practices he has called "abusive." (Sun, 15 Jun 2008 00:18:50 GMT)

$35M mortgage fraud uncovered: Eight people indicted on alleged foreclosure rescue scheme
GREENBELT - Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Sun, 15 Jun 2008 00:28:19 GMT)

Preferential treatment by Countrywide to Senator Kent Conrad shows how corrupt the mortgage business is
Countrywide waived one point on Senator Kent Conrad million dollar mortgage. The Senator never understood the mortgage lender was bribing him. Countrywide made up that $10,500 many times by messing other borrowers who never understood what they were getting into. (Sun, 15 Jun 2008 02:09:25 GMT)

Businesses target NSW mortgage battlers
Predatory businesses are targeting home owners in western Sydney suffering from mortgage stress in an attempt to buy properties below market value. (Sun, 15 Jun 2008 02:29:32 GMT)

Businesses target NSW mortgage battlers
Predatory businesses are targeting home owners in western Sydney suffering from mortgage stress in an attempt to buy properties below market value, a federal minister said. (Sun, 15 Jun 2008 02:41:44 GMT)

Attempt to clarify mortgage disclosures sparks outrage / To help confused buyers, feds seek overhaul of Good Faith ...
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... (Sun, 15 Jun 2008 03:26:33 GMT)

Mortgage disclosure changes spark ire
Any modifications to the stack of paperwork that home buyers must sign at the closing table will have a big impact on thousands of real estate agents, mortgage brokers, banks and title companies. And they all want a say in shaping the documents. (Sun, 15 Jun 2008 04:14:19 GMT)

Mortgage scam snagged scores
The pitch went like this: Just show up at the closing and you'll pocket $5,000. The investment company uses your name and credit to get a zero-down mortgage for a new home, carves its management fee from the loan and resells the property fast, handling the mortgage payments until then. Cost to you: zero. (Sun, 15 Jun 2008 05:15:59 GMT)

Sen. Conrad received deal on mortgage
WASHINGTON - North Dakota Sen. Kent Conrad said he personally asked the chief executive of Countrywide Financial Corp. for a mortgage loan for his vacation house, but said he never requested or expected special treatment on its terms. (Sun, 15 Jun 2008 05:25:41 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? (Sun, 15 Jun 2008 06:21:28 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, 15 Jun 2008 06:22:00 GMT)

Mortgage group separates myths from the facts
Sometimes perception and reality never intersect. The former, emboldened by an increasing volume of buzz, begins to carry the weight of fact, pushing the latter into the shadows. Perusing the Mortgage Bankers Association Web site on Friday, I discovered that has been happening as the residential real estate market continues to sag. (Sun, 15 Jun 2008 07:11:43 GMT)

Senators tied to special mortgage deals
WASHINGTON— Senate Banking Committee Chairman Christopher J. Dodd, a leader of Congress' efforts to help homeowners ensnared in the subprime mortgage meltdown, reportedly got special treatment on his own mortgages from the CEO of Countrywide Financial Corp., a company whose practices he has called "abusive." (Sun, 15 Jun 2008 07:16:07 GMT)

Mortgage rates hit 8-month high / 30-year loans climb a quarter point over the previous week
Rates on 30-year mortgages jumped to the highest level in nearly eight months, reflecting increased concerns about what the Federal Reserve might do to battle inflation. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages... (Sun, 15 Jun 2008 07:26:17 GMT)

DAVID W. MYERS: Ex is still liable for mortgage
Divorcing couples can sign any type of agreement they want, but the pact can't automatically set aside the duties of either party to make payments on a mortgage that they jointly took out earlier. (Sun, 15 Jun 2008 07:39:24 GMT)

Attempt to clarify mortgage disclosures sparks outrage / To help confused buyers, feds seek overhaul of Good Faith ...
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... (Sun, 15 Jun 2008 07:43:24 GMT)

Mortgage applications rise from low
Mortgage applications in the United States rose from their lowest level in six years in the week ended June 6, led by a gain in purchase applications that may indicate the drop in property values is starting to draw buyers. (Sun, 15 Jun 2008 08:04:13 GMT)

Conrad mortgage favor goes to charity
Sen. Kent Conrad, North Dakota Democrat, said Saturday he is donating $10, 500 to charity and refinancing his loan on an apartment building after reviewing documents showing he received special treatment from Countrywide Financial Corp. (Sun, 15 Jun 2008 08:33:26 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, 15 Jun 2008 09:04:00 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? (Sun, 15 Jun 2008 09:48:15 GMT)

Senators Caught in Mortgage Fallout
Members of Congress, the cabinet and celebrated advisers may have received favorable deals from Countrywide Financial, whose lax lending standards are at the center of the subprime mortgage crisis. (Sun, 15 Jun 2008 09:53:49 GMT)

Will mortgage insurance protect against job loss?
Does mortgage insurance protect me if I'm disabled or lose my job? No, mortgage insurance protects the lender against loss in the event that you default. You pay the premium, but the lender receives the protection. (Sun, 15 Jun 2008 11:26:34 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. (Sun, 15 Jun 2008 12:47:44 GMT)

Mt. Laurel man admits mortgage-fraud guilt
MOUNT HOLLY - A Mount Laurel man who operated a mortgage consulting firm has pleaded guilty to stealing $105,000 from homeowners who hired him to help save their properties. (Sun, 15 Jun 2008 13:13:35 GMT)

Conrad says he never wanted special treatment on resort home
North Dakota Senator Kent Conrad says he personally asked the chief executive of the Countrywide home mortgage company for a loan on his Delaware vacation home. (Sun, 15 Jun 2008 14:40:21 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, 15 Jun 2008 19:11:22 GMT)

Mortgage mess fallout: Beleaguered AIG gets new chief
American International Group Inc., which has lost billions on bad bets on the mortgage market, on Sunday named former Citigroup Inc. executive Robert Willumstad to replace the insurer's besieged chief executive. (Mon, 16 Jun 2008 00:17:01 GMT)

Loan-deal US senator offers donation
A senior Democratic senator has promised to give $10,500 to charity and refinance a property loan after reports that he was one of a number of Washington figures given special treatment under a VIP loan programme run by Countrywide Financial , the embattled mortgage lender. (Mon, 16 Jun 2008 01:52:15 GMT)

AIG brings in new CEO after bad mortgage debts
AMERICAN International Group, which has lost billions on bad bets on the mortgage market, has named former Citigroup executive Robert Willumstad to replace Martin Sullivan. (Mon, 16 Jun 2008 03:00:00 GMT)

$35M mortgage fraud uncovered: Eight people indicted on alleged foreclosure rescue scheme
GREENBELT - Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Mon, 16 Jun 2008 03:43:03 GMT)

Sen. Conrad donates money over loan deal
WASHINGTON - Senate Budget Committee Chairman Kent Conrad said Saturday he is donating $10,500 to charity and refinancing his loan on an apartment building after reviewing documents showing he received special treatment from Countrywide Financial Corp. (Mon, 16 Jun 2008 05:24:30 GMT)

FBI shifting focus to mortgage fraud at two dozen offices
The U.S. Federal Bureau of Investigation has ordered more than two dozen of its field offices to stop probing some financial crimes so agents can focus on mortgage fraud. (Mon, 16 Jun 2008 05:51:23 GMT)

Mortgage crook off to prison
Robert L. Dodsworth, the Erie man sentenced to more than six years in prison for his part in a widespread mortgage-fraud scam, starts serving his federal prison sentence today. (Mon, 16 Jun 2008 07:02:31 GMT)

Five steps to prevent big mortgage trouble
Protect credit and stave off foreclosure Having mortgage troubles? You're not alone. But if you feel you're at risk, don't despair. There are some steps you can take to minimize foreclosures and make sure your credit isn't badly dinged. (Mon, 16 Jun 2008 07:12:36 GMT)

Defaulting on mortgage may hamper ability to obtain an apartment lease
For those who may be in danger of foreclosing on their mortgage, renting may not be an alternative because applicants may have bad credit. (Mon, 16 Jun 2008 08:07:43 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. (Mon, 16 Jun 2008 08:15:00 GMT)

Harry Gross: Woman's partial car-loan payments hurting boyfriend's credit
Dear Harry: About six months ago, I co-signed for a car for my girlfriend. I have my own car loan, which is paid for directly out of my bank account. She is now having a hard time making the car payments on that big loan. I asked her to get them to take the money out of her account so she can't spend it elsewhere, but she won't do that. How can I get my name off that loan? I'm worried that her ... (Mon, 16 Jun 2008 08:34:10 GMT)

Rising home loan rates worry buyers
To read the biggest stories of the day on your mobile, type mobile.ndtv.com on your phone browser. (Mon, 16 Jun 2008 09:53:40 GMT)

Mortgage Intelligence holds fundraiser to help privateer days
As walkers pass by the window of Mortgage Intelligence on Main Street in Liverpool one may notice a 50cc blue off road mini chopper just waiting to be taken home. ?We're selling tickets to raise money for privateer days,? said Jeff Langille with Mortgage Intelligence... (Mon, 16 Jun 2008 10:13:27 GMT)

Lender puts up mortgage rates again
Nationwide Building Society has increased some of its mortgage rates for the second time in two weeks. The group is raising its fixed-rate deals and some of its tracker mortgages by between 0.2% and 0.5%. (Mon, 16 Jun 2008 10:53:41 GMT)

Nationwide raises mortgage rates
The Nationwide building society rises its mortgage rates as volatility in the mortgage market continues. (Mon, 16 Jun 2008 11:20:56 GMT)

MCOT English News : More government rice mortgage centres to open
BANGKOK, June 16 (TNA) -- Thailand's Public Warehouse Organization (PWO) and the Bank for Agriculture and Agricultural Cooperatives (BAAC) will establish more rice mortgage centres countrywide to facilitate farmers. (Mon, 16 Jun 2008 11:24:27 GMT)

QLD home loans least affordable
Queenslanders need more than 40 per cent of their weekly income to pay their home loan, new figures revealed this morning. The latest Real Estate Institute of Australia Housing Affordability Report has studied new home loans in the March quarter. (Mon, 16 Jun 2008 12:04:55 GMT)

Conrad donates money over loan deal
Senate Budget Committee chairman is donating $10,500 to charity and refinancing a loan due to special treatment. (Mon, 16 Jun 2008 12:42:11 GMT)

Mortgage Guaranty Insurance Corporation Enters Into Reinsurance Agreement
MGIC Investment Corporation today announced that its subsidiary, Mortgage Guaranty Insurance Corporation , has entered into a reinsurance agreement with an affiliate of HCC Insurance Holdings, Inc. (Mon, 16 Jun 2008 12:52:00 GMT)

Lehman Cut Mortgage Assets to $64.7 Billion in Second Quarter
June 16 (Bloomberg) -- Lehman Brothers Holdings Inc. , the fourth-largest U.S. securities firm, reduced assets tied to real estate 20 percent to $64.7 billion in the second quarter to curb further losses from the collapse of the mortgage market. (Mon, 16 Jun 2008 13:01:29 GMT)

AIG Chief Ousted amid Mortgage Losses
AIG Chief Executive Officer Martin Sullivan is the latest victim of the credit crunch. For the past three years, he has led the world's largest insurance company. In recent months, he presided over the collapse of the boom in risky mortgage investments. AIG's stock price dropped in half, and angry shareholders pushed for Sullivan's ouster. (Mon, 16 Jun 2008 13:04:44 GMT)

Lehman Reduced Mortgage Assets 20% in Second Quarter (Update1)
June 16 (Bloomberg) -- Lehman Brothers Holdings Inc. , the fourth-largest U.S. securities firm, unloaded real-estate assets in the second quarter, shrinking its mortgage holdings 20 percent to curb further losses from the credit-market collapse. (Mon, 16 Jun 2008 13:16:27 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, 16 Jun 2008 13:49:06 GMT)

Lehman Reduced Mortgage Assets 20% in Second Quarter (Update2)
June 16 (Bloomberg) -- Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, reduced its mortgage holdings in the second quarter by 20 percent to curb further losses from the credit-market collapse. (Mon, 16 Jun 2008 14:01:31 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, 16 Jun 2008 14:07:30 GMT)

South Adams Savings Bank joins Mortgage Relief initiative
BOSTON -- The Federal Reserve Bank of Boston, the Massachusetts Bankers Association and South Adams Savings Bank have announced that the Mortgage Relief initiative introduced in December is growing -- from an initial five banks to more than 50 banks of every size, with branches throughout Massachusetts and much of New England. (Mon, 16 Jun 2008 14:45:32 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. (Mon, 16 Jun 2008 15:18:14 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, 16 Jun 2008 15:18:40 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, 16 Jun 2008 15:18:44 GMT)

Conrad donates money over loan deal
Senator Kent Conrad says he's donating $10,500 to charity and refinancing his loan on a Bismarck apartment building after reviewing documents that show he received special treatment from Countrywide Financial Corporation. (Mon, 16 Jun 2008 15:25:21 GMT)

Bank of America--Countrywide deal would create mega-mortgage firm
Bank of America's planned acquisition of Countrywide Financial Corp. likely would create a home mortgage company in Wichita that would dwarf all others. (Mon, 16 Jun 2008 17:09:26 GMT)

Brace for other shoe to drop in mortgage mess, some warn
With most of the country still reeling from the subprime mortgage meltdown, Mark Hanson is warning of the next looming blow. (Mon, 16 Jun 2008 17:21:59 GMT)

BofA cutting home-equity lines to tackle debt worries
Bank of America Corp. is tightening up its home-equity lending business, turning down applications and turning off credit lines in struggling housing markets. (Mon, 16 Jun 2008 17:23:39 GMT)

$25 million mortgage on stalled Dadeland condo project sold
An investment group has bought the mortgage for a Dadeland apartment complex, where plans to build twin condo towers have been shelved by the Israeli owner. (Mon, 16 Jun 2008 17:25:35 GMT)

Broker, Bank Employee Charged in Valley Mortgage Fraud
A Davis loan broker and Washington Mutual Long Beach mortgage employee have been charged in connection with a multi-million dollar valley mortgage fraud ring. (Mon, 16 Jun 2008 18:09:25 GMT)

Judge blocks nursing home foreclosure
St. Louis County Circuit Judge Melvyn W. Wiesman has made permanent his injunction blocking subsidiaries of Lehman Brothers from foreclosing on the Cedars, a 252-bed nursing home in Town and Country. (Mon, 16 Jun 2008 18:59:05 GMT)

Urbanfund Corp. Announces Completion of Mortgage Financing
TORONTO, ONTARIO-- - Mitchell Cohen, President and Chief Executive Officer of Urbanfund Corp. , is pleased to announce that it has completed the previously announced mortgage financing for its two recently acquired commercial assets; North Front Centre in Belleville, Ontario and Wonderland Mall in London, Ontario. (Mon, 16 Jun 2008 20:45:19 GMT)

United American Bank Reports Special Loan Loss Provision
United American Bank (169799;OTCBB:UABK) announced today that it had increased its loan loss reserves by (Mon, 16 Jun 2008 21:35:45 GMT)

United American Bank Reports Special Loan Loss Provision
United American Bank (OTCBB:UABK) announced today that it had increased its loan loss reserves by $500,000. The increase in reserves was taken in connection with a loan totaling $1.75 million made to an individual borrower who has recently sought bankruptcy protection. The bank believes that the loan is partially secured under the cross-collateral provisions of a $660,000 home equity loan made ... (Mon, 16 Jun 2008 21:58:45 GMT)

No to home loan tax relief: Plibersek
Federal Housing Minister Tanya Plibersek has given the thumbs down to a suggestion that loans for first home buyers be tax deductible. (Mon, 16 Jun 2008 22:56:12 GMT)

No to home loan tax relief: Plibersek
Federal Housing Minister Tanya Plibersek has given the thumbs down to a suggestion that loans for first home buyers be tax deductible. Aussie Home Loans boss John Symond has said the measure would help ease the housing affordability crisis. (Tue, 17 Jun 2008 01:10:30 GMT)

MORE GOVERNMENT RICE MORTGAGE CENTRES TO OPEN IN THAILAND
Food   Thailand's Public Warehouse Organization (PWO) and the Bank for Agriculture and Agricultural Cooperatives (BAAC) will establish more rice mortgage centres countrywide to facilitate farmers. (Tue, 17 Jun 2008 01:16:00 GMT)

More Government Rice Mortgage Centres To Open In Thailand
Thailand's Public Warehouse Organization (PWO) and the Bank for Agriculture and Agricultural Cooperatives (BAAC) will establish more rice mortgage centres countrywide to facilitate farmers. (Tue, 17 Jun 2008 01:16:00 GMT)

Home-Loan Aid Responses Speed Up
Mortgage companies are pledging to let troubled borrowers know whether they're approved for help within 45 days of receiving a homeowner's application (Tue, 17 Jun 2008 01:16:04 GMT)

Mortgage Lenders Pledge More Help For Homeowners
Major mortgage lenders have agreed to streamline and speed up the process for assisting distressed homeowners, according to new guidelines set to be released today. (Tue, 17 Jun 2008 01:23:13 GMT)

Hope Now tries to speed home foreclosure aid process
A mortgage industry alliance plans to announce Tuesday that it's reached agreement with lenders and loan servicers to develop a standardized process for helping homeowners at risk of foreclosure. (Tue, 17 Jun 2008 01:59:37 GMT)

Lenders Promise to Speed Notice on Mortgage Help
Mortgage companies are pledging to let troubled borrowers know whether they are approved for help within 45 days of receiving a homeowner?s application. (Tue, 17 Jun 2008 02:22:08 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, 17 Jun 2008 02:43:58 GMT)

$35M mortgage fraud uncovered: Eight people indicted on alleged foreclosure rescue scheme
GREENBELT - Eight people have been indicted in an alleged $35 million mortgage foreclosure rescue scheme to cheat lenders and homeowners facing foreclosure, a case authorities said is likely Maryland's largest mortgage fraud case ever. (Tue, 17 Jun 2008 03:41:13 GMT)

Mortgage industry pledges response to troubled borrower requests within 45 days
WASHINGTON - Mortgage companies, facing criticism that they aren't doing enough to stem the housing crisis, are pledging to let troubled borrowers know whether they're approved for help within 45 days of receiving a homeowner's application. (Tue, 17 Jun 2008 03:52:45 GMT)

Woolwich Halts Some Home Loans; Nationwide Rates Up, Times Says
June 16 (Bloomberg) -- Woolwich Plc, the U.K. mortgage bank owned by Barclays Plc , will stop offering two-year fixed home loans and boost fees on so-called tracker-rate mortgages, the London-based Times reported. (Tue, 17 Jun 2008 05:23:34 GMT)

Senator makes charitable donation to offset Countrywide mortgage break
WASHINGTON — One of the two Senate committee chairmen who received special treatment from Countrywide Financial Corp. has decided to donate to charity an amount equivalent to what he saved on the deal. (Tue, 17 Jun 2008 06:16:29 GMT)

Boomers should try to enter retirement mortgage-free
The headline read: "Mortgages No Longer a Stigma in Retirement." That was the finding of the third annual "Affluent Boomers at 60" survey conducted by Bell Investment Advisors. Baby boomers, the survey revealed, are in no rush to pay off their mortgages. Big Mama always stressed that I should pay off my mortgage before I retire. Now, more than 55 percent of boomers who have mortgages do not plan ... (Tue, 17 Jun 2008 06:30:44 GMT)

Man gets prison in mortgage scheme
A Tucson man was sentenced to prison in connection with a mortgage fraud scheme. (Tue, 17 Jun 2008 07:24:22 GMT)

GOP member calls for mortgage inquiry
A leading House Republican called Monday for hearings to determine which lawmakers received discount mortgage deals from Countrywide Financial Corp., but his colleagues in the House and the Senate don’t seem particularly eager to start turning over rocks. (Tue, 17 Jun 2008 08:22:00 GMT)

Birmingham City Council committee endorses plan to sue mortgage companies over foreclosures
A Birmingham City Council committee Monday endorsed a plan to sue mortgage companies, alleging unfair and deceptive lending practices led to foreclosures in the city. (Tue, 17 Jun 2008 08:25:13 GMT)

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