Mortgage News Jun 2008

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Analysts expect mortgage rate hikes
TORONTO -- Analysts say rising mortgage rates are expected to further soften Canada's housing market as affordability erodes, sales cool and the economy in many parts of the country blows off more steam. (Tue, 17 Jun 2008 08:43:12 GMT)

RBI eases home loan norms for coop banks
Making it easier for urban cooperative banks to extend housing loans, the Reserve Bank of India has relaxed the risk provisioning norm for purchase of residential properties up to Rs 30 lakh (Rs 3 million). (Tue, 17 Jun 2008 08:52:56 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? (Tue, 17 Jun 2008 09:32:06 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? (Tue, 17 Jun 2008 10:27:00 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, 17 Jun 2008 10:42:19 GMT)

Best Strategies to Beat Rising Prices
Start by saving on fuel and food, then move on to refinancing your debt. (Tue, 17 Jun 2008 10:49:45 GMT)

Facing foreclosure? You’ve got a few options; No longer able to make his mortgage payments, one Culver resident turned ...
MADRAS ’ Martin Montes, 37, a Culver resident, didn‘t see it coming.He bought a new home in 2007, when he had a good job and the economy was OK. But a year later a slew of events ’ a new baby, a reduction in his weekly hours at Bright Wood Corp., from 40 to 28, and a high-interest loan ’ made mortgage payments impossible to pay. (Tue, 17 Jun 2008 11:07:22 GMT)

Threat of higher mortgage rates as inflation soars
The threat of still higher mortgage rates increased today when inflation surged from three to 3.3 per cent. The figure for May was above most City forecasts and the highest rate since Labour came to power in 1997. (Tue, 17 Jun 2008 11:56:45 GMT)

Woolwich drops two home loan deals
The Woolwich withdrew two of its products as it became the latest lender to raise its mortgage rates. The group is no longer offering a lifetime tracker mortgage for people wanting to borrow 80% of their home's value, while it has also temporarily withdrawn its two-year fixed rate mortgage deals. (Tue, 17 Jun 2008 12:38:55 GMT)

Woolwich raises mortgage rates
Lender increases rate on its tracker mortgage by 0.25%, and will relaunch its fixed-rate deals next week (Tue, 17 Jun 2008 12:40:10 GMT)

NSW worst for mortgage delinquency
TWELVE of the 20 areas with the highest mortgage delinquencies in Australia are located in NSW, according to credit rating agency Moody's Investors Service. (Tue, 17 Jun 2008 14:00:00 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, 17 Jun 2008 14:32:04 GMT)

New Guidelines For Mortgage Industry
USA - The mortgage industry has reached a major agreement on guidelines that will speed up efforts to help homeowners in trouble. (Tue, 17 Jun 2008 14:36:07 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, 17 Jun 2008 14:49:21 GMT)

Senate nears vote on housing market rescue bill
The U.S. Senate was expected to vote as soon as Tuesday on a housing market rescue bill to refinance distressed mortgages and create a new regulator for Fannie Mae and Freddie Mac, sources close to Senate talks said. (Tue, 17 Jun 2008 15:28:02 GMT)

Investigators Enter Home of Baltimore Mayor
BALTIMORE -- Investigators with the State Prosecutor's Office were inside Baltimore Mayor Sheila Dixon's home for several hours Tuesday, the mayor's spokesman said. (Tue, 17 Jun 2008 16:31:24 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. (Tue, 17 Jun 2008 17:32:14 GMT)

USDA Rural Development Single Family Home Loan Borrowers
WEATHER EMERGENCY: Food Safety and Assistance Resources USDA offers tips to keep food safe during a weather emergency and inform citizens of assistance resources available after an emergency. (Tue, 17 Jun 2008 18:09:32 GMT)

Mortgage Foreclosure Prevention Workshop June 28 in Beaverton
Open Door Counseling Center will be holding a Mortgage Foreclosure Prevention Workshop from 9 a.m. to 1 p.m. Saturday, June 28, at the Beaverton Community Center, 12350 SW Fifth St., Beaverton. (Tue, 17 Jun 2008 18:11:47 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. (Tue, 17 Jun 2008 18:17:44 GMT)

NJ accuses Florham Park company of mortgage 'racketeering'
TRENTON -- A Florham Park mortgage lender is accused by the New Jersey attorney general's office of scheming with appraisers and title companies to recruit buyers for investment properties, promising "no money down." (Tue, 17 Jun 2008 19:15:32 GMT)

Investigators Raid the Home of Baltimore Mayor
BALTIMORE -- Investigators with the state prosecutor's office, who have been probing Mayor Sheila Dixon's financial dealings during her tenure as City Council president, searched her home Tuesday for more than seven hours. (Tue, 17 Jun 2008 19:32:26 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 19:36:22 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Tue, 17 Jun 2008 19:47:35 GMT)

Fitch Upgrades DLJ Commercial Mortgage Corp. Series 1998-CF1
Fitch Ratings upgrades DLJ Commercial Mortgage Corp.´s commercial mortgage pass-through certificates, (Tue, 17 Jun 2008 19:48:03 GMT)

Fitch Upgrades DLJ Commercial Mortgage Corp. Series 1998-CF1
Fitch Ratings upgrades DLJ Commercial Mortgage Corp.'s commercial mortgage pass-through certificates, series 1998-CF1 as follows: (Tue, 17 Jun 2008 19:58:57 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, 17 Jun 2008 20:00:52 GMT)

State charges mortgage brokers with fraud
State authorities have charged mortgage brokers and others with a racketeering scheme involving more than $5 million in fraudulent mortgages that authorities said were designed to send 25 homes into foreclosure. (Tue, 17 Jun 2008 20:04:40 GMT)

Mortgage groups blast parts of Senate housing bill
Mortgage industry and business groups are urging lawmakers to drop pieces of a housing bill they say would be too restrictive on lenders. (Tue, 17 Jun 2008 21:48:52 GMT)

NJ Busts Mortgage Scam
(WBGO News, 6/17/2008) New Jersey\'s Attorney General has announced a major mortgage fraud crackdown. (Tue, 17 Jun 2008 21:58:10 GMT)

SCE&G sells $110 million of first mortgage bonds
South Carolina Electric & Gas Co. said Tuesday that it sold $110 million of its first mortgage bonds in a negotiated offering. (Tue, 17 Jun 2008 22:12:57 GMT)

Mortgage industry blasts Senate bill
Six trade groups representing lenders said parts of the Senate housing bill are too restrictive and will expose lenders to lawsuits. (Tue, 17 Jun 2008 22:17:59 GMT)

Gallatin duo pleads guilty in federal court in mortgage-fraud case
Miles Jackson Black and Jeffrey Dunn Hathcock, both of Gallatin, pled guilty today in federal court to conspiracy to commit wire fraud and bank fraud an elaborate mortgage-fraud scheme involving the purchase of 22 luxury homes in Gallatin and Hendersonville by unqualified "straw" buyers. (Tue, 17 Jun 2008 22:32:46 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? (Tue, 17 Jun 2008 22:56:52 GMT)

BAAC augments paddy mortgage plan
The Bank for Agriculture and Agricultural Co-operatives (BAAC) has increased the maximum limit for this year's paddy mortgage scheme to 500,000 baht per farmer from 350,000. (Wed, 18 Jun 2008 00:25:10 GMT)

Australia May Consider a Fannie Mae-Style Mortgage Agency
June 18 (Bloomberg) -- Australia may consider a government- backed mortgage agency similar to the Fannie Mae in the U.S., after recommendations from a housing affordability committee. (Wed, 18 Jun 2008 00:33:28 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. (Wed, 18 Jun 2008 01:36:18 GMT)

Senators Deny Knowing Of Home Loan Favoritism
Senate banking committee Chairman Christopher J. Dodd said yesterday that he knew he was part of a "VIP" mortgage program offered by Countrywide Financial, but he said he was not aware that the privilege included waiving fees that regular customers must pay to obtain lower interest rates. (Wed, 18 Jun 2008 02:08:12 GMT)

Home loan affordability improving
Lower interest rates and flat house prices helped improve housing affordability in May to its best level in more than a year, a report released today shows. (Wed, 18 Jun 2008 02:33:52 GMT)

How rising home values, easy credit put your finances at risk
During the housing boom, banks raised credit card limits at a blistering pace across the nation, in part because of a surge in home equity, much of it now vanished. Now, the mix of high-rate debt and meager home equity has squeezed consumers and threatens to prolong the economic slowdown, according to a USA TODAY investigation. (Wed, 18 Jun 2008 02:41:03 GMT)

Senator Viewed Mortgage Treatment as a ?Courtesy?
Senator Christopher J. Dodd of Connecticut is defending himself against suggestions that he had received preferential treatment from Countrywide Financial Corporation. (Wed, 18 Jun 2008 03:35:51 GMT)

Dodd defends VIP mortgage deal
WASHINGTON — U.S. Sen. Chris Dodd and his wife knew that they were VIPs of Countrywide when they refinanced two mortgages in 2003 but never questioned what that designation meant. (Wed, 18 Jun 2008 04:37:53 GMT)

With mortgage rates on the rise, should you refinance now?
Rates are spiking just as housing sales pick up. Like just about everything else – gasoline, food – mortgage rates are getting more expensive. Last week, local rates climbed to the highest level this year. (Wed, 18 Jun 2008 04:47:10 GMT)

Lawsuits target mortgage fraud
Two years ago, Florine Williams, a nurse's aide, feared losing her Bloomfield duplex after falling behind on payments for the $259,000 mortgage. So, Williams went to a nearby business service company, which referred her to a mortgage broker. (Wed, 18 Jun 2008 05:05:09 GMT)

New Zealand May Home Loan Affordability Improves
(RTTNews) - New Zealand's housing affordability improved to its best level in more than a year, the Wizard Home Loan Affordability report prepared by interest.co.nz showed Wednesday. The improvement in May was driven by a decline in the average two-year fixed mortgage rate. (Wed, 18 Jun 2008 06:12:53 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. (Wed, 18 Jun 2008 06:33:14 GMT)

Direct Loan Program offered to community college students in Springfield, Holyoke
joann.moriarty @newhouse.comWASHINGTON - Full-time students signed up for the fall semesters at Springfield Technical Community College or Holyoke Community College can participate in the Direct Loan Program, a type of financial aid that U.S. Sen. Edward M. Kennedy is encouraging all community colleges to adopt. (Wed, 18 Jun 2008 07:34:00 GMT)

Can Mccain deliver his home state?
For a senator who consistently gets 80 percent approval ratings from Arizonans, it seems strange, bizarre even, that John McCain would not be a shoo-in to win his home state in November's presidential election. Some in-state analysts say chances are fair, in fact, that Arizona will end up in the Democratic column. (Wed, 18 Jun 2008 08:00:00 GMT)

Chuck Prince Finds Selling Home No Easier Than Fixing Subprime
June 18 (Bloomberg) -- Former Citigroup Inc. Chief Executive Officer Charles O. ``Chuck'' Prince III lost his job because of the housing slump . Now he's having a hard time selling his home. (Wed, 18 Jun 2008 08:19:18 GMT)

Sen. Dodd says he was unaware of mortgage break
Senate banking committee chairman Christopher Dodd said Tuesday he knew he was part of a "VIP" mortgage program offered by Countrywide Financial but said he was not aware that the privilege included waiving fees that regular customers must pay to obtain lower interest rates. (Wed, 18 Jun 2008 08:32:40 GMT)

Mortgage reform bills
MORTGAGE REFORM BILLS Assembly bills headed to Senate this week: AB 1830: • Requires subprime lenders to underwrite loans based on a borrower's ability to repay the loan over its full life, including taxes and insurance. (Wed, 18 Jun 2008 08:48:28 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, 18 Jun 2008 09:27:39 GMT)

With mortgage rates on the rise, should you refinance now?
Rates are spiking just as housing sales pick up. (Wed, 18 Jun 2008 10:06:11 GMT)

Ahead of the Bell: Mortgage applications
Industry data to be released Wednesday will show whether home loan applications fell last week after mortgage rates jumped to the highest level in nearly eight months. (Wed, 18 Jun 2008 10:15:30 GMT)

Dodd Denies Loans Deal
The Senate ethics committee has begun a preliminary investigation of the special treatment a mortgage lender afforded Sen. Christopher Dodd and another top politician. (Wed, 18 Jun 2008 10:17:41 GMT)

Mortgage brokers accused of fraud
NEWARK — State authorities have accused mortgage brokers and others of a racketeering scheme involving more than $5 million in fraudulent mortgages that authorities said were designed to send 25 homes — including two in Paterson — into foreclosure. (Wed, 18 Jun 2008 10:24:53 GMT)

How To Stop "Recycling" Debt
Early Show financial adviser Ray Martin answers viewer questions on that, whether to put money toward paying down the mortgage or toward retirement, and whether to cash out a 401(k) to pay off a mortgage. (Wed, 18 Jun 2008 11:17:14 GMT)

Mortgage applications off 8.7% on week-to-week basis: MBA
The volume of mortgage applications drops a seasonally adjusted 8.7% on a week-to-week basis as interest rates spike higher, fresh data from the Mortgage Bankers Association show. (Wed, 18 Jun 2008 11:19:51 GMT)

Mortgage application volume declines as rates rise
Mortgage application volume fell 8.7 percent during the week ended June 13, according to the Mortgage Bankers Association's weekly application survey. (Wed, 18 Jun 2008 11:39:02 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 18 Jun 2008 11:50:25 GMT)

Mortgage application volume declines as rates rise
(AP:WASHINGTON) Mortgage application volume fell 8.7 percent during the week ended June 13, according to the Mortgage Bankers Association's weekly application survey. (Wed, 18 Jun 2008 11:52:08 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, 18 Jun 2008 12:14:06 GMT)

U.S. MBA's Mortgage Applications Index Fell 8.8% Last Week
June 18 (Bloomberg) -- Mortgage applications in the U.S. declined last week, led by a slump in refinancing as borrowing costs surged. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan fell 8.8 percent to 507.9 from 557.1 the prior week. (Wed, 18 Jun 2008 12:16:59 GMT)

Mortgage application volume fell last week
Refinance applications hit their lowest levels of the year. Interest rates on home loans rise. (Wed, 18 Jun 2008 12:18:00 GMT)

Mortgage application volume declines as rates rise
Mortgage application volume fell by nearly 9 percent last week, as interest rates rose to the highest level in 11 months, according to the Mortgage Bankers Association's weekly application survey. (Wed, 18 Jun 2008 13:40:23 GMT)

USDA Rural Development Single Family Home Loan Borrowers
WEATHER EMERGENCY: Food Safety and Assistance Resources USDA offers tips to keep food safe during a weather emergency and inform citizens of assistance resources available after an emergency. (Wed, 18 Jun 2008 13:54:29 GMT)

Mortgage Applications Fell Nearly 9 Percent Last Week
(RTTNews) - Mortgage application volume continued to fall during the week of June 13, according to the Mortgage Bankers Association's weekly application survey. (Wed, 18 Jun 2008 13:59:01 GMT)

Mortgage stress hits new highs
MORTGAGE stress among Australian borrowers has hit its highest level in more than a decade, according to credit ratings agency Standard & Poor's. (Wed, 18 Jun 2008 14:00:00 GMT)

Yolo Assemblywoman urges support for comprehensive mortgage reform package
Assemblywoman Lois Wolk, D-Davis, Tuesday urged support of a comprehensive package of mortgage reform measures, including her own legislation to increase accountability and standards for mortgage brokers, alongside Assembly Speaker Karen Bass, D-Los Angeles, Assemblymember Ted Lieu, D-Torrance, and other members of the Democratic Caucus with legislation in the package. (Wed, 18 Jun 2008 14:57:50 GMT)

Paso Robles mortgage fund assets frozen
Paso Robles-based Estate Financial Inc.'s $170 million mortgage fund has been frozen by a judge pending an independent audit. (Wed, 18 Jun 2008 15:50:29 GMT)

Group Brings 'Hope' to Mortgage Woes
The Hope Now Alliance, a collaboration between the government, lenders and non-profits, is designed to aid troubled homeowners plagued by the foreclosure crisis. Jonathan Kemper, president and CEO of the Mortgage Bankers Association, and Kathleen Day of the Center for Responsible Lending, discusses the initiative and how it's making progress. (Wed, 18 Jun 2008 16:13:02 GMT)

Group Brings 'Hope' to Mortgage Woes
The Hope Now Alliance, a collaboration between the government, lenders and non-profits, is designed to aid troubled homeowners plagued by the foreclosure crisis. Jonathan Kemper, president and CEO of the Mortgage Bankers Association, and Kathleen Day of the Center for Responsible Lending, discusses the initiative and how it's making progress. (Wed, 18 Jun 2008 16:17:08 GMT)

Paso Robles mortgage fund assets frozen
Paso Robles-based Estate Financial Inc.'s $170 million mortgage fund has been frozen by a judge pending an independent audit. San Luis Obispo County Superior Court Judge Barry LaBarbera postponed a ruling on receivership until the review of the firm's books... (Wed, 18 Jun 2008 16:25:33 GMT)

30-year mortgage rate of 6.57% chills demand
Applications for home mortgages dropped for the fourth week in the last five as soaring interest rates choked off refinancing opportunities and soured the housing outlook, an industry group said Wednesday. (Wed, 18 Jun 2008 17:41:07 GMT)

Mortgage Applications
A spike in interest rates to their highest level in 11 months sent mortgage applications tumbling last week. (Wed, 18 Jun 2008 17:50:50 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, 18 Jun 2008 18:11:52 GMT)

State, mortgage firms settle foreclosure 'rescue' case
Massachusetts has reached a settlement with 10 mortgage firms over so-called home foreclosure "rescues" that authorities say were fraudulent. (Wed, 18 Jun 2008 18:39:30 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, 18 Jun 2008 18:47:57 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? (Wed, 18 Jun 2008 18:57:05 GMT)

Feds indict seven in metro Atlanta mortgage fraud ring
Atlanta federal prosecutors have indicted seven metro Atlanta residents in alleged straw-buyer mortgage fraud scam, centered around an East Lake condominium complex. (WB) (Wed, 18 Jun 2008 19:35:09 GMT)

State, mortgage firms settle foreclosure 'rescue' case
BOSTON - Massachusetts has reached a settlement with 10 mortgage firms over so-called home foreclosure "rescues" that authorities say were fraudulent. Attorney... (Wed, 18 Jun 2008 19:51:45 GMT)

Mass., mortgage firms settle foreclosure case
Massachusetts has reached a settlement with 10 mortgage firms over so-called home foreclosure "rescues" that authorities said were fraudulent. (Wed, 18 Jun 2008 20:26:20 GMT)

Metro police officer cleared of lying on loan application
Charges have been dropped against a Metro Police Lieutenant who was accused of lying on a loan application to get a home. Lieutenant Juanita Goode was charged with theft, burglary, and forgery. (Wed, 18 Jun 2008 21:02:52 GMT)

State, Mortgage Firms Settle Foreclosure 'Rescue' Case
Massachusetts has reached a settlement with 10 mortgage firms over so-called home foreclosure "rescues" that authorities say were fraudulent. (Wed, 18 Jun 2008 22:03:59 GMT)

Home affordability improves
19 June 2008 There has been an improvement in home affordability, but it is still tight for people on average incomes. The latest survey prepared by interest.co.nz says it will still cost just over 80 percent of the average take home pay to service the loan on an average house. (Wed, 18 Jun 2008 22:15:26 GMT)

Home affordability improves
19 June 2008 There has been an improvement in home affordability, but it is still tight for people on average incomes. The latest survey prepared by interest.co.nz says it will still cost just over 80 percent of the average take home pay to service the loan on an average house. (Wed, 18 Jun 2008 22:18:01 GMT)

(AFX UK Focus) 2008-06-18 22:59 UPDATE: WaMu adds $1 billion to aid program, trims home loan offerings
Adds detail on home loan products (Wed, 18 Jun 2008 22:21:35 GMT)

Washington Mutual to end 2 complex mortgage types
Washington Mutual Inc. said Wednesday it would stop offering two types of complex mortgage products, the latest change to its mortgage business intended to help it recover from the mess in the mortgage and credit markets. (Wed, 18 Jun 2008 23:56:11 GMT)

Washington Mutual ending two mortgage types
Washington Mutual Inc. said Wednesday it would stop offering two types of complex mortgage products as part of a shift in its mortgage business. (Thu, 19 Jun 2008 00:04:37 GMT)

Conrad Talks About Mortgage Deal
He`s not exactly being accused of robbing anyone, but accusations that he received a special deal on a mortgage are dogging Senator Kent Conrad. Conrad says he did not know he was getting any kind of favorable treatment when some fees that other homeowners would pay were waived. (Thu, 19 Jun 2008 00:08:49 GMT)

A Home Price Firewall
Home prices are down 20 percent from their peak in 2006 and are falling rapidly across the country. Experts predict an additional 15 percent decline during the coming year as the housing price bubble is undone. (Thu, 19 Jun 2008 01:12:49 GMT)

Mortgage fraud crackdown looms
Up to 70 people may be charged in region Federal authorities fanned out Wednesday and began making arrests in what sources called a sweeping investigation of mortgage fraud in the Chicago area and across the country. (Thu, 19 Jun 2008 03:03:30 GMT)

Investigation: Mortgage Indictments Handed Down
A 51-count indictment was handed down today in connection with an alleged mortgage fraud case. FOX 4's Becky Oliver first reported this case months ago and has this follow-up. (Thu, 19 Jun 2008 03:08:17 GMT)

Thwaite joins Victory on loan deal
Melbourne Victory have signed Socceroos defender Michael Thwaite on a one-year loan deal from Norwegian club SK Brann. (Thu, 19 Jun 2008 06:35:13 GMT)

HBOS Says Bad Mortgage Loans `In Line' as House Prices Fall
June 19 (Bloomberg) -- HBOS Plc , the U.K. mortgage lender planning to raise 4 billion pounds ($7.8 billion) in a rights offer, said bad home loans will be ``in line'' with forecasts as house prices fall as much as 9 percent this year. (Thu, 19 Jun 2008 06:39:02 GMT)

Rising mortgage rates add to housing woes
Rising mortgage rates, reflecting higher inflation, are starting to compound the US housing market's woes. (Thu, 19 Jun 2008 08:00:00 GMT)

Consultants back loan for ex-Maumee Stamping
Plans to turn the closed Ford Motor Co. Maumee Stamping Plant into a new venture have been bolstered by state-hired consultants who recommend an Ohio loan for the financing. (Thu, 19 Jun 2008 08:49:39 GMT)

Deputy mayor missed 4 payments on loan
One of Louisville Metro Mayor Jerry Abramson's top administrators, Deputy Mayor William Summers IV, missed the initial four months of payments on a low-interest federal housing loan administered by metro government. (Thu, 19 Jun 2008 08:55:00 GMT)

No let-up in mortgage squeeze
Gross mortgage lending fell by another 2% in May, to push it 19% lower than a year ago, say mortgage lenders. (Thu, 19 Jun 2008 09:09:50 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. (Thu, 19 Jun 2008 09:27:39 GMT)

VA offers veterans help with home loans
Many home owners have found it difficult recently to pay their mortgages, but intervention by loan counselors at the Department of Veterans Affairs has actually reduced the number of veterans defaulting on their home loans. (Thu, 19 Jun 2008 09:33:35 GMT)

Freeholders refinance $40M debt
To take advantage of low interest rates, the Ocean County Board of Freeholders introduced an ordinance Wednesday to refinance up to $40 million in government debt. (Thu, 19 Jun 2008 09:34:16 GMT)

VA offers veterans help with home loans
Many home owners have found it difficult recently to pay their mortgages, but intervention by loan counselors at the Department of Veterans Affairs has actually reduced the number of veterans defaulting on their home loans. (Thu, 19 Jun 2008 09:57:04 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, 19 Jun 2008 10:21:15 GMT)

Mortgage rates rise to 10-month high
Mortgage rates went up for the fourth week in a row and have risen well over half a percentage point in the last month. The 30-year fixed is at its highest point in 10 months. (Thu, 19 Jun 2008 10:46:12 GMT)

Rell Signs Mortgage-Assistance Bill Into Law
Homeowners struggling to make mortgage payments could get some help from legislation signed into law Wednesday, as expected, by Gov. M. Jodi Rell. (Thu, 19 Jun 2008 11:17:45 GMT)

Rell signs bill to ease mortgage crisis
Gov. M. Jodi Rell has signed a bill aimed at providing some relief to Connecticut homeowners facing mortgage payment problems. (Thu, 19 Jun 2008 11:58:39 GMT)

Jury indicts four more in mortgage fraud probe
A widespread probe of mortgage fraud resulted yesterday in grand jury indictments against four Maryland residents, less than a week after federal prosecutors here accused eight other people of bilking homeowners and banks of more than $35 million in an unrelated mortgage scheme. (Thu, 19 Jun 2008 12:00:37 GMT)

2 surrender in subprime mortgage collapse case
Federal authorities say two former Bear Stearns managers have surrendered in New York City to face criminal charges in the wake of the collapse of the subprime mortgage market. (Thu, 19 Jun 2008 12:18:08 GMT)

Coakley settles with mortgage companies
The U.S. Bankruptcy Court has approved a settlement between Attorney General Martha Coakley’s office and 10 mortgage companies that funded or serviced loans that facilitated fraudulent transactions by Brockton attorney Alec Sohmer. (Thu, 19 Jun 2008 12:51:02 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Thu, 19 Jun 2008 14:03:49 GMT)

Mortgage reform, accountability for brokers topic of Wolk measures
Assemblywoman Lois Wolk, D-Solano, on Tuesday urged support of a comprehensive package of mortgage reform measures, including her own legislation to increase accountability and standards for mortgage brokers. Chief among the reform measures is AB 1830, which would raise standards for mortgage brokers, protect consumers from abusive broker practices and provide a clear definition of subprime loans. (Thu, 19 Jun 2008 14:34:42 GMT)

Dodd denies improper mortgage deals
U.S. Sen. Christopher Dodd, D-Conn., again Tuesday denied any impropriety in the rates he received from Countrywide Financial Corp. in refinancing two mortgages. (Thu, 19 Jun 2008 14:53:29 GMT)

Mortgage rates at 9-month high
Rates on 30-year fixed mortgages have surged a tenth of a percentage point to a 9-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday. (Thu, 19 Jun 2008 14:58:20 GMT)

'Prepay home loan or invest in mutual funds?
Home loan interest rates are likely to increase in the next six months. Should this be a cause enough for you to prepay your home loan? (Thu, 19 Jun 2008 15:01:12 GMT)

U.S. to unveil results of coordinated mortgage probe
U.S. Justice Department officials are expected to announce the results of a national mortgage fraud enforcement operation at their news conference scheduled for 1:15 p.m., a department official said on Thursday. (Thu, 19 Jun 2008 15:09:05 GMT)

FBI estimates $1 billion in losses from mortgage fraud
The FBI says it has arrested about 300 real estate brokers since March - including dozens over the last two days - in its crackdown on incidents of mortgage fraud that have contributed to the U.S. housing crisis. (Thu, 19 Jun 2008 15:57:00 GMT)

Hundreds Swept Up In Mortgage Fraud Arrests
Hundreds swept up in mortgage fraud arrests (Thu, 19 Jun 2008 17:02:56 GMT)

Mortgage relief initiative expands and evolves
The Federal Reserve Bank of Boston and the Massachusetts Bankers Association announced today 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. The expansion comes as community banks affiliated with the MBA join the effort. The mortgage relief ... (Thu, 19 Jun 2008 17:45:46 GMT)

More than 400 indicted in US mortgage fraud crackdown
US officials on Thursday indicted more than 400 people in a major operation aimed at derailing mortgage fraud. (Thu, 19 Jun 2008 18:11:05 GMT)

Government Crackdown on Mortgage Fraud
More than 400 real estate industry players have been indicted since March, including dozens over the last two days, in a Justice Department crackdown on incidents of mortgage fraud nationwide. (Thu, 19 Jun 2008 19:18:15 GMT)

Hundreds swept up in mortgage fraud arrests
At least 300 mortgage fraud suspects allegedly linked to an estimated $1 billion in losses have been arrested since March 1 as part of the Justice Department's mounting inquiry into the national home loan crisis, top federal officials said Thursday. (Thu, 19 Jun 2008 19:48:19 GMT)

Hundreds swept up in mortgage fraud arrests
More than 400 real estate industry players have been indicted since March — including dozens over the last two days — in a Justice Department crackdown on incidents of mortgage fraud nationwide that stem from the country's housing crisis. (Thu, 19 Jun 2008 20:00:02 GMT)

Bear Stearns execs among 400 charged in US mortgage fraud
Two former Bear Stearns hedge fund managers were indicted Thursday as officials unveiled charges against more than 400 people in a wide-ranging probe of mortgage abuses during the US housing boom. (Thu, 19 Jun 2008 20:07:42 GMT)

Texas leads nation in FHA-backed home loans 2:52 PM CT
Texas leads the country in the volume of home loans insured by the Federal Housing Administration. And Fort Worth and Dallas have some of the highest volumes in the country, FHA Commissioner Brian Montgomery said Thursday. (Thu, 19 Jun 2008 20:07:55 GMT)

Six indicted in alleged home flipping scheme
Six people, including a since-disbarred lawyer, a former bank loan officer, and a mortgage broker, have been indicted by a Seattle federal grand jury in connection with an $8.5 million wire fraud scheme in 2004 and 2005. (Thu, 19 Jun 2008 20:08:03 GMT)

Washington Mutual cuts 1,200 jobs amid mortgage crisis
Washington Mutual Corp. is cutting 1,200 jobs nationwide. The country's largest thrift, hit hard by turmoil in the mortgage and credit markets, said Thursday, that some layoffs will be in its home loan business. (Thu, 19 Jun 2008 20:08:32 GMT)

Bear Stearns execs among 400 charged in US mortgage fraud
Two former Bear Stearns hedge fund managers were indicted Thursday as officials unveiled charges against more than 400 people in a wide-ranging probe of mortgage abuses during the US housing boom. (Thu, 19 Jun 2008 20:19:55 GMT)

NY to help homeowners in subprime mortgage crisis
ALBANY, N.Y. (AP) — New York is creating a 90-day safety period for homeowners snared in the national subprime mortgage so they will be able to more fully understand their options. (Thu, 19 Jun 2008 20:34:12 GMT)

Massive Mortgage Fraud Case Hits Home
The U.S. attorney's office in Detroit has charged 28 people with mortgage fraud in 15 separate criminal cases. INSIDE: Action News coverage and read The Justice Department report (Thu, 19 Jun 2008 20:45:33 GMT)

Ex-Bear managers charged, crackdown on mortgage fraud
Two former Bear Stearns hedge fund managers were indicted on securities fraud charges and prosecutors said a separate mortgage fraud probe has led to charges against more than 400 people as the Bush administration cracked down on abuses that deepened the credit crisis. (Thu, 19 Jun 2008 20:58:28 GMT)

Hundreds Swept Up In Mortgage Fraud Arrests
Hundreds swept up in mortgage fraud arrests (Thu, 19 Jun 2008 21:02:38 GMT)

NY to help homeowners in subprime mortgage crisis
New York is creating a 90-day safety period for homeowners snared in the national subprime mortgage crisis so they will be able to more fully understand their options. The new law will also criminalize some of the loan practices that contributed to the loss of more than 50,000 homes in New York so far. (Thu, 19 Jun 2008 21:07:23 GMT)

Hundreds swept up in mortgage fraud arrests
More than 400 real estate industry players have been indicted since March — including dozens over the last two days — in a Justice Department crackdown on incidents of mortgage fraud nationwide that stem from the country's housing crisis. (Thu, 19 Jun 2008 21:08:28 GMT)

NY to help homeowners in subprime mortgage crisis
(AP:ALBANY, N.Y.) New York is creating a 90-day safety period for homeowners snared in the national subprime mortgage crisis so they will be able to more fully understand their options. (Thu, 19 Jun 2008 21:24:05 GMT)

Lending Limbo: Can Any Borrowers Qualify In Today's Market?
Hunting for a home loan? Be prepared for the financial equivalent of a strip search, say mortgage brokers. And that's for traditional mortgages to people with good credit, including well-heeled investors -- not subprime borrowers. (Thu, 19 Jun 2008 21:46:50 GMT)

2 charged on Wall Street in mortgage meltdown
Two former Bear Stearns hedge fund managers were hauled into jail Thursday and charged with lying to investors about the collapse of the subprime mortgage market, perhaps signaling the start of a wave of prosecutions arising from the housing meltdown. (Thu, 19 Jun 2008 23:13:28 GMT)

Realty Q&A: Is it wise to get out of an ARM loan if the balance due is low?
Question: I currently have a five-year interest-only adjustable-rate mortgage of $50,000 on a condo in Century City, Calif., that I purchased last year at $750,000. My mortgage balance is so low that I'm not sure what to do at the end of five years when it converts into a variable interest mortgage. The costs involved with refinancing into a fixed-rate mortgage would seem to outweigh the benefit ... (Fri, 20 Jun 2008 00:09:48 GMT)

Hundreds Swept Up in Mortgage Fraud Arrests
WASHINGTON -- The FBI says it has arrested about 300 real estate industry players since March _ including dozens over the last two days _ in its crackdown on incidents of mortgage fraud that have contributed to the country's housing crisis. (Fri, 20 Jun 2008 03:59:10 GMT)

National mortgage-fraud crackdown nets five from Sacramento
A U.S. Justice Department crackdown on mortgage fraud that helped seed the nation's housing downturn has netted 400 industry players since March, including five from Sacramento, officials announced Thursday. (Fri, 20 Jun 2008 07:04:57 GMT)

Home Front: Happy endings for owners in distress
Sometimes it may seem that everyone and their brother is losing a house to the banks. But here, fresh from the trenches of loan counseling, we have two stories today of foreclosures averted. (Fri, 20 Jun 2008 07:05:27 GMT)

Bond Commission OKs loan for Lowe's project
The State Bond Commission on Thursday approved a $2 million loan for the city of Pineville for the Lowe's Home Centers Inc. Project, according to state Treasurer John Kennedy. (Fri, 20 Jun 2008 07:49:48 GMT)

Big Arizona mortgage-fraud bust
36 people indicted in mortgage fraud crackdown. (Fri, 20 Jun 2008 08:26:31 GMT)

36 in state among 406 indicted in mortgage-fraud bust
Six mortgage-fraud rings busted in Phoenix. (Fri, 20 Jun 2008 08:31:18 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, 20 Jun 2008 09:33:06 GMT)

2 charged on Wall Street in mortgage meltdown
NEW YORK -- Two former Bear Stearns hedge fund managers were hauled into jail Thursday and charged with lying to investors about the collapse of the subprime mortgage market, perhaps signaling the start of a wave of prosecutions arising from the housing meltdown. (Fri, 20 Jun 2008 09:37:32 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. (Fri, 20 Jun 2008 10:22:36 GMT)

67 in area charged in U.S. mortgage fraud crackdown
Fraud tainted every level of home-buying, feds say; 67 suspects charged in Chicago In a crackdown on mortgage fraud Thursday, federal authorities unveiled a series of scams in the Chicago area that corrupted every level of home-buying—from builders, buyers and appraisers to loan officers, real estate agents and lawyers. (Fri, 20 Jun 2008 11:14:59 GMT)

County board vote OKs nursing home loan, consultant
URBANA – The Champaign County Board voted Thursday night to hire management consultants to run its troubled nursing home. The $15,000-a-month contract goes to Management Performance Associates, a St. Louis-area firm. Only Democrats Carol Ammons, Lloyd Carter, Lorraine Cowart and Jennifer Putman voted against the measure. (Fri, 20 Jun 2008 11:46:24 GMT)

County board vote OKs nursing home loan, consultant
URBANA – The Champaign County Board voted Thursday night to hire management consultants to run its troubled nursing home. The $15,000-a-month contract goes to Management Performance Associates, a St. Louis-area firm. Only Democrats Carol Ammons, Lloyd Carter, Lorraine Cowart and Jennifer Putman voted against the measure. (Fri, 20 Jun 2008 11:51:01 GMT)

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