Mortgage News Jun 2008

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67 in Chicago areas arrested in mortgage fraud sweep
Federal authorities in Chicago this afternoon announced charges against 67 people in a sweeping investigation of mortgage fraud with national reach. (Fri, 20 Jun 2008 12:08:51 GMT)

Mortgage insurers spent $1.2M lobbying in 1Q
The trade group for mortgage insurers spent over $1.2 million lobbying in the first quarter on issues dealing with the housing market slump, according to a recent disclosure form. (Fri, 20 Jun 2008 13:15:39 GMT)

Group tries to prevent loan foreclosures
Posted: Friday, June 20, 2008 at 10:22 a.m. The Central Illinois Organizing Project is trying to keep a mortgage company from foreclosing on a Bloomington couple's home loan. (Fri, 20 Jun 2008 15:32:25 GMT)

Carrying Mortgage Debt Into Retirement
Financial advisers disagree on what you should do with mortgage debt. (Fri, 20 Jun 2008 15:35:46 GMT)

Barratt in Debt Refinance Talks; No Accord in Place, People Say
June 20 (Bloomberg) -- Barratt Developments Plc , the U.K. homebuilder whose shares have dropped 80 percent this year, is in talks with banks to refinance part of its 1.7 billion pounds ($3.4 billion) in debt, two people with direct knowledge of the discussions said. (Fri, 20 Jun 2008 15:53:07 GMT)

Barratt in Debt Refinance Talks; No Accord in Place, People Say
June 20 (Bloomberg) -- Barratt Developments Plc , the U.K. homebuilder whose shares have dropped 80 percent this year, is in talks with banks to refinance part of its 1.7 billion pounds ($3.4 billion) in debt, two people with direct knowledge of the discussions said. (Fri, 20 Jun 2008 15:53:47 GMT)

Carrying Mortgage Debt Into Retirement
Financial advisers disagree on what you should do with mortgage debt. (Fri, 20 Jun 2008 16:01:57 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, 20 Jun 2008 16:48:36 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, 20 Jun 2008 16:48:46 GMT)

Real estate agent arrested in alleged mortgage scheme
A former top-performing real estate agent is facing the prospect of making a prison cell her new home after being arrested for taking part in an alleged mortgage fraud scheme. Gloria Alvarez -- an agent for the now-closed Su Casa real estate brokerage in San... (Fri, 20 Jun 2008 18:03:29 GMT)

New home builds plummet 60%
Business & money: Tighter mortgage lending conditions putting off potential home buyers (Fri, 20 Jun 2008 18:19:40 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. (Fri, 20 Jun 2008 19:36:48 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 20:02:58 GMT)

More Than 400 Held in FBI Mortgage Sweep
The FBI says it has arrested more than 400 people in the last three months on charges related to mortgage fraud. Agents have arrested real estate agents and others. On Thursday, the FBI arrested two Bear Stearns investment fund managers. NPR's Dina Temple-Raston and Michelle Norris discuss the arrests. (Fri, 20 Jun 2008 20:54:56 GMT)

More Than 400 Held in FBI Mortgage Sweep
The FBI says it has arrested more than 400 people in the last three months on charges related to mortgage fraud. Agents have arrested real estate agents and others. On Thursday, the FBI arrested two Bear Stearns investment fund managers. NPR's Dina Temple-Raston and Michelle Norris discuss the arrests. (Fri, 20 Jun 2008 20:55:56 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? (Fri, 20 Jun 2008 21:13:18 GMT)

FBI Sweep Reveals New Twists to Mortgage Fraud
The Justice Department appears to have officially opened the penalty phase of the mortgage debacle in this country. On Thursday, the FBI paraded two indicted Wall Street executives before TV cameras. (Fri, 20 Jun 2008 21:58:52 GMT)

FBI Sweep Reveals New Twists to Mortgage Fraud
The FBI has arrested more than 400 people in a sweep that's revealed a broad array of alleged mortgage scams across the country. Some alleged schemes involved real-estate twists on identity theft; others preyed on those facing foreclosure. (Fri, 20 Jun 2008 22:06:40 GMT)

Florida man pleads guilty in mortgage scam
A Florida man has pleaded guilty in Alabama to defrauding a mortgage company out of more than $2 million in a scheme involving the purchase and resale of more than 200 homes in three states. (Fri, 20 Jun 2008 22:08:23 GMT)

Halifax hikes home loan rates in 20th set of changes this year
Halifax, the UK's biggest mortgage lender, will hike the rates on its home loans by up to another 50 basis points today, forcing remortgaging homeowners and first-time buyers to shell out even more on their monthly payments. (Sat, 21 Jun 2008 00:45:02 GMT)

Fraud charges hit Minneapolis mortgage firm
The Minnesota Department of Commerce said Friday that it charged International Mortgage Solutions and its owner, Sylvester Luellen, with multiple counts of civil mortgage fraud. (Sat, 21 Jun 2008 02:03:25 GMT)

Frozen home equity line can hurt you
Your bank sends you a letter telling you that the limit has been reduced on your home equity line of credit, or HELOC. That news is unwelcome enough. What the letter doesn't tell you is this: Your credit score just got whacked. (Sat, 21 Jun 2008 02:18:50 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. (Sat, 21 Jun 2008 02:36:49 GMT)

Live loan money in Oklahoma; dead kitty in California?
Some $30 million in state revenue bond money will pour into the housing market for first-time buyers Tuesday, and the suds will come with what lender Scott Senner called "a wonderful surprise” — a lower-than-expected loan rate. The programs will allow first-timers to buy with no down payment by providing 3-percent down-payment assistance for loans through the Federal Housing Administration, ... (Sat, 21 Jun 2008 05:20:15 GMT)

Hundreds indicted for mortgage fraud
WASHINGTON - 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. (Sat, 21 Jun 2008 07:05:25 GMT)

InsBank to buy Finworth Mortgage in Green Hills
Privately owned InsBank in Nashville plans to close on a deal by the end of this month to buy mortgage company Finworth Mortgage in Green Hills. The mortgage company does annual loan volume of more than $40 million, targeting high-end homes. (Sat, 21 Jun 2008 07:18:00 GMT)

Florida man pleads guilty to $2 million mortgage scam
MONTGOMERY, Ala. — A Florida man has pleaded guilty in Alabama to defrauding a mortgage company out of more than $2 million in a scheme involving the purchase and resale of more than 200 homes in three states. (Sat, 21 Jun 2008 07:18:30 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? (Sat, 21 Jun 2008 08:42:32 GMT)

Woman suspected of running home loan scam
Gonzales police believe a woman targeting Salinas Valley residents in danger of losing their homes to foreclosure took thousands of dollars from more than 40 victims in a bogus refinancing scam. (Sat, 21 Jun 2008 09:11:17 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? (Sat, 21 Jun 2008 09:32:38 GMT)

In divorce, mortgage obligations trump decree almost every time
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. (Sat, 21 Jun 2008 10:51:11 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're doing a variety of things to keep people in their houses. (Sat, 21 Jun 2008 10:51:24 GMT)

Nation needs 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. (Sat, 21 Jun 2008 11:34:29 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? (Sat, 21 Jun 2008 11:49:11 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? (Sat, 21 Jun 2008 14:33:36 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, 21 Jun 2008 14:33:46 GMT)

Nine locals charged in mortgage scheme
Nine Solano County residents were charged this week with mail fraud, money laundering and other related offenses as part of a nationwide "Operation Malicious Mortgage" takedown, the U.S. Attorney's office in Sacramento announced. (Sat, 21 Jun 2008 14:51:15 GMT)

Arrests in Md. Included in FBI Crack Down On Mortgage Fraud
WASHINGTON - (CBS/ AP) 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. (Sat, 21 Jun 2008 14:53:48 GMT)

Bank sues Ed McMahon over loan
Financial troubles are growing for Ed McMahon, with Citibank now suing the former Tonight Show announcer to recoup a loan of nearly $200,000 US. (Sat, 21 Jun 2008 15:43:22 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. (Sat, 21 Jun 2008 15:48:04 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. (Sat, 21 Jun 2008 17:37:31 GMT)

Joint Loans
Tax benefits and easy availability of loans will, no doubt, lure you to turn your dream home into a reality. But will you be able to service the loan month after month? If your EMI (Equated Monthly Instalment) is a stretch, explore the option of jointly taking a loan along with your spouse. (Sat, 21 Jun 2008 18:50:16 GMT)

News Station Investigation: Mortgage Fraud
Follow FOX 4's investigative coverage of mortgage fraud in DFW and across the nation. (Sat, 21 Jun 2008 20:18:55 GMT)

Inflation and interest rates, home loan and a 7-month-old kid
Srijesh Nair, Quality Manager at software firm Adobe for the last four years, has no savings today and, in fact, earns just enough to repay his Rs 17-lakh home loan... (Sat, 21 Jun 2008 21:41:48 GMT)

Motivation pays off mortgage
A mortgage for many homeowners feels like an eternity. But for some, it’s more like a challenge — a challenge to see how quickly they can pay it off. (Sun, 22 Jun 2008 00:21:40 GMT)

New Crisis Threatens Healthy Banks
Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in the financial sector that is battering even institutions that had steered clear of the subprime-home-loan debacle. (Sun, 22 Jun 2008 00:48:53 GMT)

Euphoria filled the mortgage bubble; it was destined to burst
First a three-part series exploring the mortgage and credit crisis. (Sun, 22 Jun 2008 04:00:47 GMT)

State leads no longer in home mortgage fraud
More aggressive audits have helped Georgia shed the dubious distinction of being the nation's leader in mortgage fraud, but the state remains a hot spot for the crime. (Sun, 22 Jun 2008 04:38:28 GMT)

Walking Away From Your Mortgage
A new breed of company wants to solve your mortgage woes. But what exactly are these guys selling? (Sun, 22 Jun 2008 04:54:31 GMT)

New crisis threatens healthy banks
Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in the financial sector that is battering even institutions that had steered clear of the subprime-home-loan debacle. (Sun, 22 Jun 2008 06:35:39 GMT)

Ask the Experts: Pay down mortgage or add to 401(k)?
This week's roundup from The Bee's roster of online finance experts looks at newlyweds figuring out new tax withholding and homeowners wrestling with paying off a mortgage early. For more questions and answers, go to www.sacbee.com/ask. (Sun, 22 Jun 2008 07:05:07 GMT)

PAY OFF MORTGAGE, OR NOT
Dear John: I read a recent column of yours and was surprised by something: You have paid off your mortgage!? Doesn't that go against everything most financial planners believe in? Aren't we supposed to keep paying our mortgages to have a tax... (Sun, 22 Jun 2008 07:23:05 GMT)

HOME, A LOAN
The governor's bill referenced in "Albany's Unwise Mortgage 'Fixes' " (Michael P. Smith, PostOpinion, June 13) is a thorough legislative proposal that addresses the immediate need to assist borrowers currently facing foreclosures, as well as the... (Sun, 22 Jun 2008 07:43:28 GMT)

Mortgage crisis: Other shoe is poised to drop
An adjustable-rate mortgage bubble is coming to the central San Joaquin Valley's housing market, and the tens of thousands of homeowners who hold those mortgages should prepare for the rate increases to come. (Sun, 22 Jun 2008 07:53:07 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. (Sun, 22 Jun 2008 08:02:24 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. (Sun, 22 Jun 2008 08:03:45 GMT)

Mortgage rescues turn out to be scams
| 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.'' (Sun, 22 Jun 2008 08:09:24 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. (Sun, 22 Jun 2008 08:14:52 GMT)

Further regulation not the answer to mortgage problem
Q: Wall Street and mortgage lenders are facing more regulation, but as an attorney representing creditors, mortgage brokers, lenders and others in the industry, you argue that it will hurt more than help. Why? (Sun, 22 Jun 2008 08:32:59 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, 22 Jun 2008 08:53:07 GMT)

FORECLOSURE 'FRAUD'
A Queens woman about to lose her home to foreclosure is suing the Realtor and the loan company who sold her the house, alleging that they finagled financing for her by lying about her income. Darlene Smith claims that Avraham "Ray" Glattman and his... (Sun, 22 Jun 2008 09:07:10 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, 22 Jun 2008 09:33:05 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, 22 Jun 2008 10:05:03 GMT)

Mortgage rates on rise, as are fears for housing
As if the local housing market weren't bad enough, there's another storm cloud on the horizon: rising mortgage rates. The interest rates for 30-year, fixed-rate mortgages averaged more than 6.4 percent last week, rising from 6.3 percent the previous week and an average of 5.8 percent during the first quarter. (Sun, 22 Jun 2008 10:08:57 GMT)

Mortgage crisis squeezes families' budgets as they struggle to balance survival needs
In April, Janet Misner was five months behind on her mortgage and just days from foreclosure. (Sun, 22 Jun 2008 10:29:33 GMT)

Saving couple's home a sad saga
It would appear to be an easy business decision for a mortgage loan officer: Allow a Manchester couple facing foreclosure to let another lender refinance them and save the cost of kicking them out of their house. (Sun, 22 Jun 2008 11:14:39 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 22 Jun 2008 11:27:40 GMT)

Hundreds swept up in mortgage fraud arrests
WASHINGTON (AP) — 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 have contributed to the country’s housing crisis. (Sun, 22 Jun 2008 13:29:28 GMT)

Loan crisis transcends home mortgages
WASHINGTON – Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in the financial sector that is battering even institutions that had steered clear of the subprime home loan debacle. (Sun, 22 Jun 2008 15:03:44 GMT)

Mortgage meltdown may spawn more suits
The litigation tentacles reaching out of the subprime mortgage mess could entwine corporate prey well beyond the financial institutions and individuals blamed for creating the debacle and resulting credit crisis, some insurance and legal experts say. (Sun, 22 Jun 2008 15:34:04 GMT)

Mortgage Crooks Arrested Nationwide in FBI Sweep!
The FBI has charged 406 in mortgage fraud investigations and exposures of financial malfeasance continue. Recently, the FBI hinted that a lot of criminals might be getting arrested for contributing to the mortgage meltdown. A lot of the citizens they are sworn to protect are going through a lot of pain and suffering right now because of this.It appears that they are now backing up their words ... (Sun, 22 Jun 2008 16:24:17 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. (Sun, 22 Jun 2008 19:52:30 GMT)

Home loan borrowers face interest heat
New Delhi, June 22: Interest rates on home loans could rise, if the Reserve Bank of India (RBI) crimps money supply to thwart inflation. (Sun, 22 Jun 2008 21:26:45 GMT)

For 2004 home loan, company secy could have paid EMIs till age 70
For Raj Kumar Gupta, 35, a company secretary in Jagson Airlines, a private firm, a home loan meant paying installments well beyond retirement. (Sun, 22 Jun 2008 21:52:33 GMT)

USDA program can make home ownership a reality
The dream of owning a home is out of reach for many people - often because of the difficulty of coming up with a substantial down payment up front. (Sun, 22 Jun 2008 22:49:23 GMT)

Home Not-So-Sweet Home
Why should ever-increasing homeownership be a policy goal? How many people should own homes, anyway? (Mon, 23 Jun 2008 04:03:15 GMT)

Mortgage crunch hits even the most-qualified buyers
Kay Mukagaiwa's real estate agents always pre-qualify buyers for a mortgage before putting in an offer on a house or a condominium. But since the subprime meltdown of last summer, that's no longer enough. (Mon, 23 Jun 2008 04:24:25 GMT)

North Carolina Mortgage Insurance Firm Triad Guaranty Cutting 100 Jobs
A mortgage insurance company in Winston-Salem, North Carolina says it is cutting 100 jobs as the housing crisis continues. Triad Guaranty Inc. said 65 jobs will be eliminated in Winston-Salem, beg (Mon, 23 Jun 2008 05:14:21 GMT)

Variable mortgage rate worth a look
TORONTO -- Homeowners looking to renew their mortgages should resist the urge to lock in to the safety of a fixed-term mortgage in the face of rising rates if they can stomach the more nerve-wracking ride of a variable mortgage, experts say. (Mon, 23 Jun 2008 06:03:24 GMT)

Maine supreme court rejects mortgage foreclosure by Camden bank
CAMDEN — A mortgage foreclosure by the Union Trust Company, now part of Camden National Bank, has been thrown out by the Maine Supreme Court, which has ruled that the bank failed to prove it had ever notified the mortgage holder he was in default. (Mon, 23 Jun 2008 07:15:51 GMT)

Orlando-area mortgage-crisis misery has silver lining for buyers
For a window into just how far home prices have fallen and how pervasive the mortgage crisis has become, take a sampling from Countrywide Financial Corp.'s list of foreclosed homes it is trying to unload. (Mon, 23 Jun 2008 08:10:29 GMT)

Home loans: Why your age, tenure are important
Here are some important factors to consider before you consider applying for a home loan. (Mon, 23 Jun 2008 08:29:29 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, 23 Jun 2008 08:30:59 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, 23 Jun 2008 08:31:16 GMT)

BusinessWise briefs
Our experts offer advice on gift taxes, on whether mortgage points are deductible and what kind of help to get when reducing major debts. (Mon, 23 Jun 2008 09:28:46 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, 23 Jun 2008 10:21:07 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? (Mon, 23 Jun 2008 10:23:36 GMT)

Mortgage groups increase rates
Two of the UK's biggest mortgage groups have increased their rates as lenders continue to pass on higher borrowing costs to homeowners. (Mon, 23 Jun 2008 11:08:42 GMT)

Mortgage groups increase rates
Lenders continue to pass on higher borrowing costs to homeowners as two of the UK's biggest mortgage lenders increase their rates. (Mon, 23 Jun 2008 11:08:52 GMT)

Petaluma offices caught in zoning change
PETALUMA – Slow home sales prompted Cal-Bay Mortgage Group President Dick Bergman to put the company’s headquarters on the market for sale, and then he discovered that Petaluma’s long-awaited General Plan update could make the market for selling the office building tough, too. (Mon, 23 Jun 2008 11:47:08 GMT)

Mortgage fraud bust shows improved rules, enforcement
Two of the metro Detroit cases that are part of a major federal bust of mortgage fraud schemes in Michigan accounted for more than half and#x2014; $25.4 million and#x2014; of the $50 million in losses linked to the cases. (Mon, 23 Jun 2008 11:52:02 GMT)

Mortgage-crisis misery has silver lining for local buyers
Special Report: For a window into just how far home prices have fallen and how pervasive the mortgage crisis has become, take a sampling from Countrywide Financial Corp.'s list of foreclosed homes it is trying to unload. (Mon, 23 Jun 2008 11:54:49 GMT)

Thacher Proffitt Publishes Bankruptcy Bulletin to Discuss Recent Noteworthy Ruling in American Home Mortgage ...
NEW YORK----Thacher Proffitt & Wood LLP announced today the publication of "American Home Mortgage Investment Corp. v. Lehman Bros. Inc.: Bankruptcy Court Broadens Repurchase Agreement Safe Harbors to Include Subordinated Notes Secured by Mortgage Loans and Limits the Application of Article 9 of the UCC." (Mon, 23 Jun 2008 12:49:00 GMT)

NJ Mortgage Lender Offers Solid Guidance on Pre-Mortgage Credit Management
NJ mortgage company helps first-time buyers and experienced home owners improve their financial situation to qualify for the best possible mortgage product, including fixed rate loans, adjustable rate loans, FHA loans, refinancing, and more. (Mon, 23 Jun 2008 13:00:00 GMT)

Home Source Mortgage Implements Sollen Technologies' Software to Increase Loan Volume
DALLAS----Sollen Technologies, an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry, has been selected by Georgetown, Texas-based Home Source Mortgage to use its full suite of products - Lender Online, Best Ex, and Rate Sheet Generator. (Mon, 23 Jun 2008 13:00:00 GMT)

Thacher Proffitt Publishes Bankruptcy Bulletin to Discuss Recent Noteworthy Ruling in American Home Mortgage ...
Thacher Proffitt & Wood LLP announced today the publication of "American Home Mortgage Investment Corp. v. Lehman Bros. Inc.: Bankruptcy Court Broadens Repurchase Agreement Safe Harbors to Include Subordinated Notes Secured by Mortgage Loans and Limits the Application of Article 9 of the UCC." The bulletin summarizes the dispute and discusses the Court's findings on applicable sections of the ... (Mon, 23 Jun 2008 13:10:21 GMT)

NJ Mortgage Lender Offers Solid Guidance on Pre-Mortgage Credit Management
NJ mortgage company helps first-time buyers and experienced home owners improve their financial situation to qualify for the best possible mortgage product, including fixed rate loans, adjustable rate loans, FHA loans, refinancing, and more. (PRWeb Jun 23, 2008) Read the full story at http://www.prweb.com/releases/2008/06/prweb1038864.htm (Mon, 23 Jun 2008 13:18:58 GMT)

Swedish family of 4 killed in home invasion robbery in the Philippines
MANILA, Philippines - A Swedish couple and their two young children have been killed in a home-invasion style robbery in the Philippines. (Mon, 23 Jun 2008 13:44:00 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? (Mon, 23 Jun 2008 13:49:26 GMT)

HSBC spent $660,000 in first quarter lobbying on mortgage lending, credit card regulations
WASHINGTON (AP) - The U.S. subsidiary of British financial conglomerate HSBC Holdings PLC spent $660,00 in the first quarter lobbying on mortgage lending and credit card rules, according to a recent disclosure form. (Mon, 23 Jun 2008 14:40:46 GMT)

Home slump harder to reverse than usual: Harvard
Record foreclosures and limited access to credit will make it harder than usual for the U.S. housing market to rebound from this slump, the worst at least since World War Two, according to a Harvard University study on Monday. (Mon, 23 Jun 2008 14:48:34 GMT)

Mortgage brokers spent $480,000 lobbying in 1Q
The National Association of Mortgage Brokers spent more than $480,000 lobbying in the first quarter as Congress and federal agencies considered new regulations on the industry. (Mon, 23 Jun 2008 15:17:16 GMT)

Mortgage Rate Rise Spurs Some to Buy Now
The recent rise in mortgage rates might seem like yet another reason to stay out of real estate. But for some home buyers, it's having just the opposite effect. (Mon, 23 Jun 2008 15:42:23 GMT)

The Prudential Life Insurance Company Welcomed As A Member of the Federal Home Loan Bank of New York
The Prudential Life Insurance Company has been approved for membership at Federal Home Loan Bank of New York . (Mon, 23 Jun 2008 15:48:00 GMT)

Young family now has a place to call home
Andrea Arroyos was handed a large cardboard key on Friday, representing the key to her new home, financed through the USDA’s Rural Development Direct Loan Program. But for Arroyos and her daughters Mia, 4, and Mariah, 2, the key represented not just a new house; it was a home. (Mon, 23 Jun 2008 15:59:12 GMT)

County refinancing bonds: Ayers recommends being proactive; Commission gives the OK
The lending crisis that is rippling through the world’s financial markets and has led to more than 400 indictments in the United States has made itself felt in Hamblen County. (Mon, 23 Jun 2008 16:22:41 GMT)

Conn.: Dodd repeats denial of mortgage wrongdoing
Connecticut Senator Christopher Dodd says the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. (Mon, 23 Jun 2008 17:26:13 GMT)

Two Triangle residents admit to mortgage fraud
Two Triangle residents pleaded guilty Monday to conspiracy to commit wire fraud as part of Operation Malicious Mortgage, a nationwide round-up by the federal government of more than 400 people involved in mortgage fraud. (Mon, 23 Jun 2008 17:38:43 GMT)

Dodd Repeats Denial of Mortgage Wrongdoing
DANBURY, Conn. — Senator Dodd says the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. Mr. Dodd's comments came before a speech to the local Chamber of Commerce at Danbury today. The Senate Banking Committee chairman repeated that he received no special treatment from Countrywide Financial Corp. Conde Nast ... (Mon, 23 Jun 2008 17:44:55 GMT)

Dodd Repeats Denial Of Mortgage Wrongdoing
Connecticut Sen. Christopher Dodd said the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. (Mon, 23 Jun 2008 17:48:29 GMT)

Dodd repeats denial of mortgage wrongdoing
Sen. Christopher Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. Dodd, D-Conn., chairman of the Senate Banking Committee, also repeated that he received no special treatment from Countrywide Financial Corp. His comments came before a speech to the Greater Danbury Chamber of ... (Mon, 23 Jun 2008 18:03:47 GMT)

Dodd repeats denial of mortgage wrongdoing
Mon, Jun 23, 2008 (11:03 a.m.) Connecticut Sen. Christopher Dodd says the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. (Mon, 23 Jun 2008 18:12:23 GMT)

Dodd repeats denial of mortgage wrongdoing
Sen. Christopher Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. Dodd, D-Conn., chairman of the Senate Banking Committee, also repeated that he... (Mon, 23 Jun 2008 18:18:17 GMT)

Dodd repeats denial of mortgage wrongdoing
(AP) DANBURY, Conn. - Connecticut Sen. Christopher Dodd says the controversy over two loans he received will not compromise his ability to lead Congress’ efforts to ease the subprime mortgage meltdown. (Mon, 23 Jun 2008 18:24:44 GMT)

Dodd repeats denial of mortgage wrongdoing
Sen. Christopher Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. (Mon, 23 Jun 2008 19:25:42 GMT)

Dodd denies mortgage wrongdoing
The Democratic senator from Connecticut repeats that he received no special treatment from Countrywide Financial Corp. (Mon, 23 Jun 2008 20:43:20 GMT)

Dodd denies mortgage wrongdoing
Sen. Christopher Dodd said Monday that the controversy over two loans he received will not compromise his ability to lead Congress' efforts to ease the subprime mortgage meltdown. (Mon, 23 Jun 2008 21:39:08 GMT)

County loan approval expected Tuesday for low-income housing in Cathedral City
The Riverside County Board of Supervisors is expected to approve an $800,000 loan Tuesday for an affordable housing development in Cathedral City that will include new apartments for low income families, a community center, swimming pool and playgrounds. (Mon, 23 Jun 2008 21:56:01 GMT)

'Jumbo' mortgage market may grow
W ... - By WALTER HAMILTON Los Angeles Times (Tue, 24 Jun 2008 04:13:46 GMT)

Senate supports mortgage aid plan
A rescue package that would help distressed homeowners avoid foreclosure passes a Senate vote by 83 to 9. (Tue, 24 Jun 2008 08:28:20 GMT)

Bank mortgage lending falls 20%
Bank mortgage lending to house buyers fell by 20% in May to a record low, a banking group says. (Tue, 24 Jun 2008 08:48:43 GMT)

Bank mortgage lending falls 20%
Bank mortgage lending to house buyers fell by 20% in May to a record low, a banking group says. (Tue, 24 Jun 2008 08:52:14 GMT)

U.K. May Mortgage Approvals Drop to Lowest Since 1997, BBA Says
June 24 (Bloomberg) -- U.K. mortgage approvals declined to the lowest since at least 1997 in May as the slumping property market discouraged buyers, a report by the British Bankers' Association showed. (Tue, 24 Jun 2008 08:53:06 GMT)

Q: What are the parts of a mortgage payment?
A: The monthly payment includes at least the interest and principal. The payment will also likely include payments to an escrow account that the lender maintains for property taxes, homeowners insurance and, if applicable, condominium association fees and private mortgage insurance. (Tue, 24 Jun 2008 08:55:12 GMT)

BBA: May British mortgage approvals lowest on record
LONDON (MarketWatch) -- British lenders approved 27,968 mortgages for house purchases in May, down from a revised 34,752 in April and the lowest total since the current statistical series began, the British Bankers Association reported Tuesday. "Measures of mortgage activity were lower in May as a result of tighter lending criteria and economic pressures on households. Only remortgaging business ... (Tue, 24 Jun 2008 09:12:16 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, 24 Jun 2008 09:27:39 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, 24 Jun 2008 09:32:54 GMT)

UK mortgage approvals plummet to 11-year low
Mortgage lending in May slumped to the lowest level in more than a decade as the total value of loans plummeted by £1.5 billion compared to April. (Tue, 24 Jun 2008 09:37:57 GMT)

Halifax makes twentieth change to mortgage rates
Halifax, the UK's biggest mortgage lender, is expected to deliver more woe to homeowners and first-time buyers tomorrow when it raises its fixed rates on loans by 0.5 percentage points. (Tue, 24 Jun 2008 09:38:17 GMT)

Woolwich pulls two-year fixed mortgage deals
Woolwich, Barclays' mortgage lending arm, will tomorrow withdraw all two-year fixed rates from the market as rival Nationwide announces plans to raise rates on some its home loans for the second time in two weeks. (Tue, 24 Jun 2008 09:38:27 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, 24 Jun 2008 10:21:20 GMT)

British mortgage approvals fell to new low in May, data show
Mortgage approvals in the U.K. tumble, touching in May their lowest level since at least 1997, the British Bankers Association reports. (Tue, 24 Jun 2008 10:25:02 GMT)

Home loan approvals dive to record low in May
New home loan approvals nosedived at their sharpest annual pace in at least a decade to hit a record low in May, figures showed on Tuesday, raising fears the housing slowdown is about to escalate into a crash. (Tue, 24 Jun 2008 10:31:00 GMT)

Home loan approvals drop to new low
The number of new mortgages approved for people buying a house dived by 20% in a month during May to reach a record low, figures showed. (Tue, 24 Jun 2008 10:53:57 GMT)

Mortgage lending falls to record low
Fears that the UK housing downturn is gaining momentum will deepen after data showing that mortgage approvals by banks slid to a new record low last month. (Tue, 24 Jun 2008 10:56:03 GMT)

Senate overwhemlingly votes to speed mortgage aid
The Senate voted 83-9 to speed up work on the $300 billion mortgage aid plan, putting it on track for a final vote as early as the end of the day. (Tue, 24 Jun 2008 12:34:53 GMT)

Lenders send two-year mortgage rates through 7%
Homeowners are at risk of paying nearly 35 per cent more in monthly interest payments after the cost of a two-year fixed-rate mortgage rose above 7 per cent. (Tue, 24 Jun 2008 13:37:56 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, 24 Jun 2008 14:48:15 GMT)

UK home loan approvals dive to record low in May
LONDON - New British home loan approvals nosedived at their sharpest annual pace in at least a decade to hit a record low in May, figures showed on Tuesday, raising fears the housing slowdown is about to escalate into a crash. (Tue, 24 Jun 2008 14:55:37 GMT)

Senate housing rescue bill clears key test vote
U.S. Senate backers of a housing bill that the White House opposes cleared a procedural hurdle on Tuesday, moving toward expected passage of the measure that would create a multi-billion dollar mortgage refinancing fund. (Tue, 24 Jun 2008 16:06:00 GMT)

Mortgage lenders should stop ripping off borrowers with huge charges, says Darling
Alistair Darling today warned mortgage lenders not to rip off borrowers with huge arrangement fees and is in talks over what level of charges are justified. (Tue, 24 Jun 2008 17:21:27 GMT)

Countrywide vote on merger to end mortgage era
BANGALORE (Reuters) - Countrywide Financial Corp shareholders vote on Wednesday to approve the largest U.S. mortgage lender's purchase by Bank of America Corp, marking the demise of the company perhaps most closely associated with the nation's housing bubble and subsequent collapse. (Tue, 24 Jun 2008 17:45:59 GMT)

Wachovia hires Goldman Sachs for loan advice
Wachovia Corp. has hired Wall Street investment firm Goldman Sachs Group for advice on the bank's loan portfolio. Wachovia spokeswoman Christy Phillips-Brown said Tuesday the firm was hired to analyze the Charlotte-based bank's loan portfolio and evaluate various alternatives. (Tue, 24 Jun 2008 17:49:35 GMT)

Fitch Affirms GS Mortgage Securities Corp. II 1998-C1
Fitch Ratings has affirmed GS Mortgage Securities Corp. II's commercial mortgage pass-through certificates, series 1998-C1, as follows: (Tue, 24 Jun 2008 17:55:05 GMT)

Sector snap: mortgage insurers rebound
Mortgage insurers rebounded Tuesday afternoon, after several stocks in the sector hit new lows following a report showing that U.S. home prices fell in April at the fastest rate since 2000. (Tue, 24 Jun 2008 18:07:35 GMT)

Senate considers housing package
Congress' answer to the mortgage crisis passed a key U.S. Senate test vote Tuesday, as senators voted to proceed with debate on the Foreclosure Prevention Act.During the start of floor debate, Sen. Christopher Dodd, D-Conn., urged lawmakers to work quickly on the measure already approved in the House.The bill would provide tax credit and refinancing options for homeowners, oversight to Fannie ... (Tue, 24 Jun 2008 18:14:17 GMT)

Wachovia hires Goldman Sachs over loan issues
The Philadelphia region's largest bank, Wachovia Corp., said today that it has hired Goldman Sachs Group to advise the nation's fourth-largest bank on its troubled loan portfolio. (Tue, 24 Jun 2008 19:10:12 GMT)

Fannie, Freddie Fail to Relieve Jumbo Loan Pressure (Update1)
June 24 (Bloomberg) -- Three months after Fannie Mae and Freddie Mac won the freedom to step up home-loan purchases, the government-chartered mortgage-finance companies are doing what critics in the Federal Reserve and Congress had predicted. (Tue, 24 Jun 2008 19:31:38 GMT)

Young family now has a place to call home
Andrea Arroyos was handed a large cardboard key on Friday, representing the key to her new home, financed through the USDA’s Rural Development Direct Loan Program. But for Arroyos and her daughters Mia, 4, and Mariah, 2, the key represented not just a new house; it was a home. (Tue, 24 Jun 2008 20:33:19 GMT)

British home loans plummet
LONDON: New British home loan approvals nosedived at their sharpest annual pace in at least a decade to hit a record low in May, figures showed yesterday, raising fears the housing slowdown is about to escalate into a crash. (Tue, 24 Jun 2008 23:24:14 GMT)

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