Mortgage News Jul 2008

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Mortgage Application Volume Rose Last Week
(RTTNews) - Mortgage application volume rose last week compared to the previous week, industry data showed on Wednesday. The improvement included increases in both refinancing and new purchase volume. (Wed, 09 Jul 2008 11:36:39 GMT)

Mortgage Lender Faces Rush to Withdraw
Depositors of IndyMac were rushing to withdraw cash on Tuesday after a prominent senator questioned the mortgage lender’s ability to survive the housing crisis. (Wed, 09 Jul 2008 11:37:04 GMT)

U.S. MBA's Mortgage Applications Index Increased 7.5% Last Week
July 9 (Bloomberg) -- Mortgage applications in the U.S. rose for a second straight week, a sign that falling home prices are attracting some buyers. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan gained 7.5 percent to 513.4 in the week ended July 4, from 477.7 the prior week. (Wed, 09 Jul 2008 11:48:01 GMT)

U.K. Mortgage Rates Surge, Consumer Confidence Slumps (Update2)
July 9 (Bloomberg) -- U.K. mortgage rates surged to the highest in eight years and consumer confidence dropped as the worst housing slump in three decades deepened. (Wed, 09 Jul 2008 11:58:24 GMT)

U.K. Mortgage Rates Surge, Consumer Confidence Slumps (Update2)
July 9 (Bloomberg) -- U.K. mortgage rates surged to the highest in eight years and consumer confidence dropped as the worst housing slump in three decades deepened. (Wed, 09 Jul 2008 12:04:05 GMT)

U.S. MBA's Mortgage Applications Index Increased 7.5% Last Week
July 9 (Bloomberg) -- Mortgage applications in the U.S. rose for a second straight week, a sign that falling home prices are attracting some buyers. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan gained 7.5 percent to 513.4 in the week ended July 4, from 477.7 the prior week. (Wed, 09 Jul 2008 12:11:57 GMT)

Fed set to tighten mortgage rules
WASHINGTON - With a foreclosure rescue bill facing an uncertain fate in Congress, federal regulators are putting the final touches on new rules designed to curb irresponsible mortgage lending and help some struggling homeowners refinance into more affordable loans. (Wed, 09 Jul 2008 12:18:23 GMT)

Mortgage Lender Faces Rush to Withdraw
Depositors of IndyMac were rushing to withdraw cash on Tuesday after a prominent senator questioned the mortgage lender’s ability to survive the housing crisis. (Wed, 09 Jul 2008 12:37:04 GMT)

Mortgage pain rises as squeeze intensifies
The cost of taking out a new fixed-rate mortgage surged last month, highlighting the downward pressure on house prices and the rising burden on consumer wallets. (Wed, 09 Jul 2008 13:00:00 GMT)

Mortgage Applications, Interest Rates Inch Higher in Latest Week
The Mortgage Bankers Association this morning reported that the number of applications for mortgages rose a seasonally adjusted 7.5% last week from the week prior...( Read More ) (Wed, 09 Jul 2008 13:38:19 GMT)

Bond Report: Treasurys gain as stocks, mortgage lenders struggle
Treasurys gained slightly early Wednesday, nudging yields down, as U.S. stocks struggled and concern over the country’s biggest mortgage lenders was reignited. (Wed, 09 Jul 2008 14:21:51 GMT)

US mortgage applications up 7.5%
Applications filed for US mortgages rose 7.5% during the week ended 4 July, according to the Mortgage Bankers Association. (Wed, 09 Jul 2008 15:53:00 GMT)

U.S. mortgage applications surge despite higher rates
WASHINGTON – The number of mortgage applications filed nationwide has risen for the second consecutive week, even as contract interest rates edged up, the Mortgage Bankers Association said today in its weekly report. (Wed, 09 Jul 2008 16:28:24 GMT)

Economic Roundup -- Weekly Mortgage Applications Rise, US Crude Inventories Fall More Than Forecast
(RTTNews) - Wednesday's economic calendar was relatively light, giving investors a chance to gear up for earnings season, which was kicked off yesterday with solid results from aluminum giant Alcoa (AA). (Wed, 09 Jul 2008 18:20:57 GMT)

Delray Beach man, six others, charged in $10 million mortgage scheme
A Delray Beach man and six other people have been indicted on federal charges involving a $10 million mortgage loan scheme to defraud mortgage lenders on properties in Broward County, federal and state authorities announced today. (Wed, 09 Jul 2008 19:09:15 GMT)

Extending the mortgage-crash pain
Mortgage debt backs a lot of the bad bonds that are wreaking balance-sheet havoc, and mortgage relief has been suggested as a cure - both for homeowners and Wall Street. But a closer look suggests that modifying homeowners' loans may simply be pushing losses into the future. (Wed, 09 Jul 2008 19:59:00 GMT)

Mortgage applications increased last week
The volume of applications for U.S. mortgages increased last week, rising a seasonally adjusted 7.5 percent over a week earlier, an industry group said.The Market Composite Index, which measures mortgage loan application volume, was 513.4 for the week ending July 4, compared to 477.7 a week earlier, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index increased 8.7 ... (Wed, 09 Jul 2008 21:08:57 GMT)

Extending the mortgage-crash pain
Mortgage debt backs a lot of the bad bonds that are wreaking balance-sheet havoc, and mortgage relief has been suggested as a cure - both for homeowners and Wall Street. But a closer look suggests that modifying homeowners' loans may simply be pushing losses into the future. (Wed, 09 Jul 2008 21:36:23 GMT)

Federal mortgage aid, on brink of passage in Senate, is headed back to square one
WASHINGTON - A federal mortgage rescue to help hundreds of thousands of homeowners avoid foreclosure is in limbo, with the Senate about to pass a bill that has no chance of winning House approval. (Wed, 09 Jul 2008 22:00:50 GMT)

Economy - Wednesday
The Mortgage Bankers Association said home loan applications rose in the week ended July 4, despite rising interest rates, to the highest level since early June. Refinance applications rose 8.7%. Demand for mortgages to buy a home grew 6.7%. The average rate for 30-year fixed-rate mortgages rose to 6.43% last week vs. 6.33% a week earlier. (Wed, 09 Jul 2008 22:50:55 GMT)

7 South Floridians charged with mortgage fraud
More than 18 homes tied to scheme Federal prosecutors announced mortgage fraud charges Wednesday against seven residents of Broward and Palm Beach counties accused of fraudulently obtaining home loans worth $10 million to buy area properties. (Thu, 10 Jul 2008 02:02:16 GMT)

Mortgage Lender Faces Rush to Withdraw
Depositors of IndyMac were rushing to withdraw cash on Tuesday after a prominent senator questioned the mortgage lender’s ability to survive the housing crisis. (Thu, 10 Jul 2008 02:37:05 GMT)

Mortgage, tech worriescombine to knock stocks
U.S. stocks tumbled Wednesday, sending the Standard & Poor's 500 Index into its first bear market since 2002, on growing concern the biggest mortgage finance companies may not weather the housing slump. Fannie Mae and Freddie Mac led financial shares to their biggest decline in six years after Fannie's borrowing costs surged on concern it won't be able to fund its business. Cisco Systems dropped ... (Thu, 10 Jul 2008 04:13:37 GMT)

Mortgage rescue bogs down in Congress / Bill expected to be delayed over revisions
A federal mortgage rescue to help hundreds of thousands of homeowners avoid foreclosure is in limbo, with the Senate about to pass a bill that has no chance of winning House approval. Democratic divisions over small but significant details are delaying the... (Thu, 10 Jul 2008 04:41:41 GMT)

Mortgage apps index rises
Mortgage applications in the U.S. rose for a second straight week, a sign that falling home prices are attracting some buyers. (Thu, 10 Jul 2008 05:27:54 GMT)

7 South Floridians charged with mortgage fraud
More than 18 homes tied to scheme Federal prosecutors announced mortgage fraud charges Wednesday against seven residents of Broward and Palm Beach counties accused of fraudulently obtaining home loans worth $10 million to buy area properties. (Thu, 10 Jul 2008 07:15:13 GMT)

MARTS MANGLED AMID MORE MORTGAGE MUCK
US stocks plunged, sending the S&P 500 index into its first bear market since 2002, after rising borrowing costs spurred concern the biggest mortgage finance companies may not weather the housing slump. Fannie Mae and Freddie Mac led financial... (Thu, 10 Jul 2008 07:44:10 GMT)

Mortgage rescue bogs down in Congress / Bill expected to be delayed over revisions
A federal mortgage rescue to help hundreds of thousands of homeowners avoid foreclosure is in limbo, with the Senate about to pass a bill that has no chance of winning House approval. Democratic divisions over small but significant details are delaying the... (Thu, 10 Jul 2008 07:44:35 GMT)

Is it too late for a home loan modification?
I'm four months behind in my house payment. Can I still go to the lender and ask for a loan modification? (Thu, 10 Jul 2008 08:08:35 GMT)

Federal mortgage aid package to advance in Senate
Hundreds of thousands of homeowners could get safe, cheaper loans rather than losing their homes under a massive election-year mortgage rescue that's drawing bipartisan support. The housing aid package _ on track for Senate passage as early as Thursday _ is... (Thu, 10 Jul 2008 08:11:07 GMT)

Mortgage rescue may stall in Washington
A federal mortgage rescue to help hundreds of thousands of homeowners avoid foreclosure is in limbo, with the Senate about to pass a bill that has no chance of winning House approval. (Thu, 10 Jul 2008 08:18:15 GMT)

Q: Is a home equity loan tax deductible?
A: Typically, the interest you pay each year on a home equity loan can be deducted from the income used to calculate your income tax. (Thu, 10 Jul 2008 08:56:48 GMT)

Compromise slipping away on mortgage bill
A federal mortgage rescue to help hundreds of thousands of homeowners avoid foreclosure is in limbo. (Thu, 10 Jul 2008 09:45:20 GMT)

Mortgage approval made easy
Home lenders are picky and demanding when it comes to loan approvals. Here's how to make the best impression. (Thu, 10 Jul 2008 10:00:00 GMT)

Mortgage approval made easy
Whether you're buying a home or refinancing an existing home loan, you'll soon find out that lenders today are a picky and demanding bunch when it comes to loan approvals. Even well-qualified borrowers are expected to jump through some pretty high hoops to qualify for financing. (Thu, 10 Jul 2008 10:50:01 GMT)

Mortgage rates drop -- along with stocks and bonds
Mortgage rates fell this week as investors grew anxious about corporate earnings. As stock prices fell, bond yields declined, too -- and so did mortgage rates. (Thu, 10 Jul 2008 10:50:31 GMT)

Federal mortgage aid package to advance in Senate
Hundreds of thousands of homeowners could get safe, cheaper loans rather than losing their homes under a massive election-year mortgage rescue that's drawing bipartisan support. (Thu, 10 Jul 2008 11:58:27 GMT)

AIG's mortgage insurance unit's rating cut
Credit ratings agency Moody's Investors Service on Wednesday night cut the financial strength rating of United Guaranty Residential Insurance Co., the mortgage insurance subsidiary of American International Group Inc. (Thu, 10 Jul 2008 12:15:57 GMT)

Senate Mulls Mortgage Package
Hundreds of thousands of homeowners could get safe, cheaper loans rather than losing their homes under a massive election-year mortgage rescue going through Congress (Thu, 10 Jul 2008 13:50:15 GMT)

Mortgages: Mortgage rates mixed on week, remain well below year ago
Mortgage rates changed little this week as the housing sector received mixed economic reports, Freddie Mac’s chief economist said on Thursday. (Thu, 10 Jul 2008 15:36:49 GMT)

NC House backs Gov.'s mortgage foreclosure plan
Subprime mortgage holders struggling to make their payments would receive assistance from the state to get more favorable terms in a plan that advanced through the North Carolina House. (Thu, 10 Jul 2008 15:43:47 GMT)

Initial mortgage costs jump in Britain
LONDON, July 10 (UPI) -- Initial mortgage costs have jumped in Britain, cutting deeply into the percentage of take home pay home buyers need to own a house. (Thu, 10 Jul 2008 16:21:27 GMT)

30-, 15-year mortgage rates change little in week
Thirty-year mortgage rates averaged 6.37% the week ended July 10, up slightly from 6.35% a week ago, according to a survey released Thursday by Freddie Mac, while 15-year mortgages stood at an average of 5.91%, compared with 5.92% last week. (Thu, 10 Jul 2008 16:21:43 GMT)

Mortgage Rescue Soon Likely to Gain Senate OK, House Next
The Senate on Thursday inched closer to passing a massive mortgage rescue bill, but it will likely have to go the whole nine yards the House. (Thu, 10 Jul 2008 17:48:19 GMT)

Bankrate: Mortgage Rates Fall Two Weeks in a Row
Mortgage rates moved lower once again, with the average conforming 30-year fixed mortgage rate falling to 6.48 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.37 discount and origination points. (Thu, 10 Jul 2008 18:35:00 GMT)

McCain: Mortgage giants can't be allowed to fail
Republican presidential candidate John McCain said Thursday the government cannot let mortgage giants Fannie Mae and Freddie Mac go under. (Thu, 10 Jul 2008 18:54:54 GMT)

Paulson says US mortgage giants 'adequately capitalized'
Treasury Secretary Henry Paulson said Thursday that US mortgage finance giants Fannie Mae and Freddie Mac are "adequately capitalized" in the face of a "challenging period." (Thu, 10 Jul 2008 19:18:52 GMT)

GIC Housing Finance launches Home Guard
CHENNAI: GIC Housing Finance Ltd., promoted by General Insurance Corporation and by other Insurance promoters, has launched Home Guard. Borrowers availing housing loan from GICHF will insure for Home Guard, which provides for full life ... (Thu, 10 Jul 2008 19:26:45 GMT)

Rates on 30-year mortgages rise, other rates mixed
Rates on 30-year mortgages edged up this week, while rates on other home loans were a mixed bag. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.37 percent this week. That was up from 6.35 percent last week. Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, dipped to 5.91 percent this week, compared with 5.92 percent ... (Thu, 10 Jul 2008 19:49:42 GMT)

US mortgage sector primed to run for covered bonds
Hank Paulson, US Secretary of the Treasury, has found a potential source of hope for the moribund US mortgage market in a European funding mechanism that he believes could boost investor confidence and cut costs for American home-buyers. (Thu, 10 Jul 2008 20:20:20 GMT)

AIG, other mortgage insurers fall on loss fears
Shares of American International Group Inc , the world's largest insurer, fell 8.2 percent on Thursday on concerns that a rating cut at its mortgage insurance unit could signal more losses in the pipeline. (Thu, 10 Jul 2008 21:23:08 GMT)

Refinancing Online Provides Opportunities for Homeowners
(ARA) - Homeowners refinance for a variety of reasons including to take cash out of their home equity to make home improvements, to consolidate debt, and to move from an adjustable-rate mortgage to a predictable, fixed-rate mortgage. (Thu, 10 Jul 2008 22:27:21 GMT)

Jim DeMint holds up mortgage relief bill
WASHINGTON -- Sen. Jim DeMint has held up the mortgage relief bill, at least for a day. (Thu, 10 Jul 2008 23:17:48 GMT)

CBA hikes home loan rates
THE Commonwealth Bank of Australia has raised its variable home loan interest rates by 0.14 per cent, citing the continued rising cost of funds. (Fri, 11 Jul 2008 01:11:00 GMT)

Commonwealth Bank hikes home loan rate
THE Commonwealth Bank of Australia has raised its variable home loan interest rates by 14 basis points. (Fri, 11 Jul 2008 01:11:00 GMT)

CBA hikes home loan rates
THE Commonwealth Bank has raised its variable home loan interest rates by 0.14 per cent, citing the continued rising cost of funds. (Fri, 11 Jul 2008 01:11:00 GMT)

Commonwealth Bank hikes home loan rate
THE Commonwealth Bank has raised its variable home loan interest rates by 14 basis points. (Fri, 11 Jul 2008 01:11:00 GMT)

CBA hikes home loan rates
THE Commonwealth Bank of Australia has raised its variable home loan interest rates by 0.14 per cent, citing the continued rising cost of funds. (Fri, 11 Jul 2008 01:11:00 GMT)

CBA raises variable home loan rate
The Commonwealth Bank of Australia Ltd has raised its variable home loan interest rates by 0.14 per cent because of the continued rising cost of funds. (Fri, 11 Jul 2008 01:38:22 GMT)

Mortgage giants Fannie, Freddie insist they're fine
Top federal officials Thursday emphasized that mortgage giants Fannie Mae and Freddie Mac were in no imminent danger of default, even while saying financial markets remained under considerable strain and calling on Congress to beef up regulation. (Fri, 11 Jul 2008 02:17:38 GMT)

CBA raises home loan rates
AUSTRALIA'S biggest home loan lender, the Commonwealth Bank, today raised its variable home loan interest rates by 14 basis points. (Fri, 11 Jul 2008 03:08:00 GMT)

Lenders get down to the nitty-gritty on loan applications
Whether you're buying a home or refinancing an existing home loan, you'll soon find out that lenders today are a picky and demanding bunch when it comes to loan approvals. Even well-qualified borrowers are expected to jump through some pretty high hoops to qualify for financing. ... (Fri, 11 Jul 2008 04:24:07 GMT)

30-year mortgage rate goes up
WASHINGTON -- Rates on 30-year mortgages edged up this week, while rates on other home loans were a mixed bag. (Fri, 11 Jul 2008 05:16:45 GMT)

Home Front: Loan prepayment penalty angers borrowers
When Carol Wallace sold her Sun City Roseville home two years ago, she got an expensive reminder from her lender. When an illness forced Carol Wallace to sell her Roseville home, she was required to pay almost $6,000 for early payment of her adjustable rate mortgage. (Fri, 11 Jul 2008 07:19:44 GMT)

Home Front: Loan prepayment penalty angers borrowers
When Carol Wallace sold her Sun City Roseville home two years ago, she got an expensive reminder from her lender. When an illness forced Carol Wallace to sell her Roseville home, she was required to pay almost $6,000 for early payment of her adjustable rate mortgage. (Fri, 11 Jul 2008 07:20:44 GMT)

US could take over mortgage giants Fannie, Freddie: report
The US government is considering a plan to take over mortgage giants Fannie Mae and Freddie Mac if their finance problems deepen, US media reported on Friday. (Fri, 11 Jul 2008 07:28:26 GMT)

Mortgage rescue advances
WASHINGTON - A long-stalled mortgage rescue inched yesterday toward Senate passage, only to be sent back to the House for more votes and negotiations to resolve disputes that are delaying help for hundreds of thousands of homeowners. (Fri, 11 Jul 2008 07:34:09 GMT)

MORTGAGE MONSTERS
THE stock of mortgage giants Freddie Mac and Fannie Mae fell sharply this week. The drop not only shows how far they've fallen in investors' esteem - it calls into question both how the government regulates the companies and plans in Congress to... (Fri, 11 Jul 2008 08:10:26 GMT)

ANZ joins home rate rises
THE ANZ joined has the Commonwealth bank today in lifting its home-loan rates, raising standard variable mortgage rates by 15 basis points. (Fri, 11 Jul 2008 09:30:00 GMT)

Asian stocks close mostly up despite US mortgage fears
HONG KONG - Asian stocks closed mostly up Friday as investors shrugged off fresh concerns about US mortgage market woe, but they remained cautious about forthcoming corporate profits figures. (Fri, 11 Jul 2008 12:13:44 GMT)

U.S. Weighs Takeover of Two Mortgage Giants
Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday. (Fri, 11 Jul 2008 12:26:55 GMT)

US could take over mortgage giants Fannie, Freddie: report
The US government is considering a plan to take over mortgage giants Fannie Mae and Freddie Mac if their finance problems deepen, US media reported on Friday. (Fri, 11 Jul 2008 13:26:02 GMT)

Mortgage Meltdown Goes from Bad to Worse
Black neighborhoods have been hit hard by foreclosures that have devastated families and left blocks of seemingly abandoned homes. The loss of Black wealth from the crisis has been estimated into billions of dollars. (Fri, 11 Jul 2008 13:58:06 GMT)

CBA, ANZ cite credit cost in loan hike
AUSTRALIAN banks are using escalating funding pressures to strategically position themselves against each other in the face of arecord slump in home loan approvals. (Fri, 11 Jul 2008 14:00:00 GMT)

U.S. Considers Mortgage Giants' Future
Senior government officials prepared emergency steps yesterday to rescue troubled mortgage giants Fannie Mae and Freddie Mac but stopped short after a campaign of public statements eased immediate concerns about the stability of the institutions. (Fri, 11 Jul 2008 14:04:52 GMT)

Mortgage woes sink dollar
U.S. currency looses ground against euro, pound as investors fear a government bailout of mortgage lenders Fannie Mae and Freddie Mac. (Fri, 11 Jul 2008 14:51:13 GMT)

Double trouble to hit home
Commonwealth and ANZ banks to raise home loan interest rates on Monday. (Fri, 11 Jul 2008 15:19:42 GMT)

Mortgage chief charged with $35 million fraud
The former president of First Bank Mortgage in St. Louis is facing federal fraud charges for allegedly funneling $35 million from the bank over nearly two decades. (Fri, 11 Jul 2008 16:52:14 GMT)

Key US mortgage lenders' shares in meltdown on insolvency fears
Shares of US mortgage finance giants Fannie Mae and Freddie Mac were in a freefall Friday on heightened concerns the trillion-dollar firms may face insolvency or a government takeover. (Fri, 11 Jul 2008 16:52:50 GMT)

Fed in tug of war over mortgage rules
The Federal Reserve is caught in a tug-of-war as it prepares on Monday to unveil final rules overhauling mortgage lending. (Fri, 11 Jul 2008 18:06:13 GMT)

Jobs risk at online mortgage firm
A building society announces jobs could go at its online mortgage and financial advice company. (Fri, 11 Jul 2008 18:12:47 GMT)

Bellevue loan officer indicted in house-buying scam
A grand jury has indicted a Bellevue loan officer and his assistant of obtaining $27 million in fraudulent loans in a scheme involving straw buyers and unscrupulous home sellers. (Fri, 11 Jul 2008 18:17:01 GMT)

U.S. moves to soothe nervousness on Wall Street over mortgage woes
Concern mounted that Washington may be forced to take over two government-sponsored mortgage finance companies to avoid a broader financial crisis. (Fri, 11 Jul 2008 18:20:33 GMT)

U.S. stocks drop sharply as oil surges, mortgage giants slide
U.S. stocks sink, with the Dow industrials falling below the 11,000 level for the first time since August 2006, as the price of oil climbed and investors contemplated the possible demise of mortgage buyers Fannie Mae and Freddie Mac. (Fri, 11 Jul 2008 18:29:00 GMT)

Fannie, Freddie woes could send mortgage rates higher
Get ready to see mortgage rates rise somewhat as concerns about Freddie Mac and Fannie Mae continue, those in the mortgage industry say. (Fri, 11 Jul 2008 18:52:12 GMT)

Tax Implications of Mortgage, Property Tax, and Insurance Payments
In life, there are two unavoidable realities: death and taxes. At least you can do something about your taxes. Your biggest tax benefit is the ability to deduct the mortgage interest you pay up to $1 million on your principal residence or a second home. (Fri, 11 Jul 2008 19:11:53 GMT)

Benefits of foreclosure rescue
The foreclosure rescue moving through Congress would let financially strapped homeowners who would normally be considered too debt-ridden to qualify for safe, government-insured mortgages refinance their home loans through the Federal Housing Administration to get more affordable loans with lower monthly payments. It would help those who have seen their mortgage rates balloon just as their home ... (Fri, 11 Jul 2008 21:26:12 GMT)

Cuomo Steps Into Mortgage Crisis
Attorney General Andrew M. Cuomo struck a deal with Fannie Mae and Freddie Mac that means that they cannot buy a mortgage from a lender unless the home has been evaluated by an independent appraiser. (Fri, 11 Jul 2008 22:30:13 GMT)

Fed to Bar Mortgage Fees That Deter Refinancing, Person Says
July 11 (Bloomberg) -- The Federal Reserve, seeking to end abusive lending practices, will ban fees on some high-cost mortgages that make it harder for people to refinance, a person familiar with the decision said. (Fri, 11 Jul 2008 22:48:09 GMT)

Benefits of foreclosure rescue
-- The foreclosure rescue moving through Congress would let financially strapped homeowners who would normally be considered too debt-ridden to qualify for safe, government-insured mortgages refinance their home loans through the Federal Housing Administration to get more affordable loans with lower monthly payments. (Fri, 11 Jul 2008 22:56:36 GMT)

Home lenders looking for signs of strength, stability
Whether you're buying a home or refinancing an existing home loan, you'll soon find out that lenders today are a picky and demanding bunch when it comes to loan approvals. Even well-qualified borrowers are expected to jump through some pretty high hoops to qualify for financing. (Sat, 12 Jul 2008 00:06:02 GMT)

Struggling Mortgage Lender Taken Over by Regulators
Federal regulators yesterday took over struggling mortgage lender IndyMac Bank, the second-largest failure ever of a U.S. financial institution. (Sat, 12 Jul 2008 00:15:54 GMT)

Two more banks raise home mortgage rates
The Commonwealth and ANZ banks have followed St George and BankWest by increasing their variable home loan interest rates independently of the Reserve Bank. (Sat, 12 Jul 2008 01:08:26 GMT)

Government shuts down mortgage lender IndyMac
IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. (Sat, 12 Jul 2008 02:30:34 GMT)

Senate passes mortgage rescue plan
A mortgage rescue to help hundreds of thousands of struggling homeowners avoid foreclosure and get more affordable, safer loans passed the Senate overwhelmingly Friday, but it faces a bumpy road amid continuing turmoil in the housing market. (Sat, 12 Jul 2008 03:24:59 GMT)

IndyMac Latest Mortgage Crisis Victim
IndyMac Bank's assets were seized by federal regulators after the mortgage lender fell victim to the nation's financial crisis. It's the second largest financial institution to close in U.S. history. (Sat, 12 Jul 2008 03:30:04 GMT)

Regulators Seize Mortgage Lender
IndyMac Bancorp, one of the country’s largest mortgage lenders, was a star in the subprime era. (Sat, 12 Jul 2008 03:36:41 GMT)

How Fallout Could Affect Main Street
The swooning stocks of two giant mortgage companies have consumers wondering about the effect on those buying or selling homes. (Sat, 12 Jul 2008 03:37:26 GMT)

Mortgage bill one step closer after Senate approval
The U.S. Senate passed a $300 billion plan to help thousands of Americans keep their homes and tighten regulation of Fannie Mae and Freddie Mac in an effort to ease the worst housing slump since the Great Depression. (Sat, 12 Jul 2008 03:42:34 GMT)

Key US mortgage lender goes bust
One of the largest mortgage lenders in the US, the California-based IndyMac Bank, collapses amid a growing credit crisis. (Sat, 12 Jul 2008 03:50:55 GMT)

Buying a house with a VA loan
Q: If I were to get a VA loan to buy my girlfriend's home, could she sell it to me for less than the appraised value of the home? And if so, would her income be considered part of my total income on the VA loan? According to the Veteran's Administration, which backs VA loans, there is nothing in the rules that prohibits a seller from selling a home for less than the VA determined value of the ... (Sat, 12 Jul 2008 04:15:18 GMT)

Federal Reserve to rein in mortgage lenders
The Federal Reserve is expected to require lenders to document borrowers' incomes and verify that they can afford their mortgage payments -- including the higher payments that come when adjustable rate loans reset. (Sat, 12 Jul 2008 04:28:28 GMT)

Fed to Bar Loan Penalties That Deter Refinancing, Person Says
July 12 (Bloomberg) -- The Federal Reserve, in a bid to end abusive lending practices, will ban penalties on some high-cost mortgages that make it harder for people to refinance, a person familiar with the decision said. (Sat, 12 Jul 2008 04:32:59 GMT)

Senate passes mortgage rescue plan
A mortgage rescue to help hundreds of thousands of struggling homeowners avoid foreclosure and get more affordable, safer loans passed the Senate overwhelmingly Friday, but it faces a bumpy road amid continuing turmoil in the housing market. (Sat, 12 Jul 2008 05:22:43 GMT)

MORTGAGE MUDDLE
The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the ''for sale'' sign in the yard. (Sat, 12 Jul 2008 05:36:58 GMT)

Senate Passes Mortgage Rescue Plan
Mortgage rescue bill to help hundreds of thousands of homeowners avoid foreclosure passes Senate (Sat, 12 Jul 2008 05:59:28 GMT)

Failure of mortgage giants would harm everyone
The failure of Freddie Mac or Fannie Mae would make it more difficult to buy, sell or refinance a home. (Sat, 12 Jul 2008 06:31:07 GMT)

Mortgage giants facing new crisis
Fannie Mae, Freddie Mac losses shake financial world WASHINGTON -- The last thing the Bush White House and the rest of the country needed in these economically trying times was another financial crisis. But they got one. The Republican administration and Democratic-run Congress now are facing the possibility that mortgage giants Fannie Mae and Freddie Mac, once staid and stable, could need a ... (Sat, 12 Jul 2008 07:09:40 GMT)

Big losses threaten mortgage giants
The Republican administration and Democratic-run Congress now are facing the possibility that once-stable mortgage giants Fannie Mae and Freddie Mac could need a bailout or even go under. (Sat, 12 Jul 2008 07:26:05 GMT)

Worries, speculation batter mortgage giants
Administration moves to rebuild confidence, avoid a takeover The speculation swirling around mortgage giants Fannie Mae and Freddie Mac - whether they're in danger, whether the government might have to take them over - is one more blow to an already battered housing market. (Sat, 12 Jul 2008 07:30:24 GMT)

Worries batter mortgage giants
Administration moves to rebuild confidence, avoid a takeover The speculation swirling around mortgage giants Fannie Mae and Freddie Mac - whether they're in danger, whether the government might have to take them over - is one more blow to an already battered housing market. (Sat, 12 Jul 2008 07:34:31 GMT)

How Fallout Could Affect Main Street
The swooning stocks of two giant mortgage companies have consumers wondering about the effect on those buying or selling homes. (Sat, 12 Jul 2008 07:37:07 GMT)

Mortgage rescue package clears U.S. Senate
WASHINGTON — A mortgage rescue and reform package completed its long and winding path through the Senate on Friday, passing 63-5. But homeowners and lenders will have to wait longer for the help it promises. (Sat, 12 Jul 2008 08:36:46 GMT)

Regulators Seize Mortgage Lender
IndyMac Bancorp, one of the country’s largest mortgage lenders, was a star in the subprime era. (Sat, 12 Jul 2008 08:38:12 GMT)

Freeing frozen home equity lines of credit
If your home equity line of credit has been frozen . and you need access to the funds . here are some steps you can take: Call your lender. Ask why the available credit has been reduced and explain why you think it shouldn't have been. It's helpful to know your loan-to-value ratio, your credit score and your debt-to-income ratio before discussing your individual situation. Be ... (Sat, 12 Jul 2008 09:49:52 GMT)

Mortgage rescue clears Senate but faces test
A mortgage rescue to help hundreds of thousands of struggling homeowners avoid foreclosure and get more affordable, safer loans passed the Senate overwhelmingly Friday, but it faces a bumpy road amid continuing turmoil in the housing market. The 63-5 vote reflected a keen bipartisan interest in sending election-year help to distressed homeowners as economic issues top voters' concerns. The plan ... (Sat, 12 Jul 2008 11:03:29 GMT)

Fretting over Fannie and Freddie: Investors nervously await action to help mortgage giants
WASHINGTON - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market. (Sat, 12 Jul 2008 11:17:17 GMT)

Government shuts down mortgage lender IndyMac
IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. (Sat, 12 Jul 2008 11:21:19 GMT)

Economic storm brews as US mortgage lenders pushed to brink
As panicked investors pushed US mortgage finance giants Fannie Mae and Freddie Mac to the brink, debate swirled on whether the meltdown was a crisis of confidence or the onset of wider economic woes. (Sat, 12 Jul 2008 14:19:44 GMT)

Regulators take over troubled U.S. mortgage lender
Bank regulators seized California-based mortgage lender IndyMac Bancorp Inc. on Friday afternoon after panicky depositors began withdrawing their money. (Sat, 12 Jul 2008 14:42:43 GMT)

Is It Time to Feel Upbeat About The Trampled-Down Mortgage Giants?
Fannie Mae and Freddie Mac, the giant mortgage-finance companies, came through last week battered and bloodied -- just as investors in their stocks may be feeling right now. But, as the cliche goes, with the blood running in the streets, is it time to feel upbeat about Freddie Mac and Fannie Mae?... (Sat, 12 Jul 2008 15:39:25 GMT)

Regulators Seize Mortgage Lender
IndyMac Bancorp, one of the country’s largest mortgage lenders, was a star in the subprime era. (Sat, 12 Jul 2008 19:37:03 GMT)

How Fallout Could Affect Main Street
The swooning stocks of two giant mortgage companies have consumers wondering about the effect on those buying or selling homes. (Sat, 12 Jul 2008 19:37:08 GMT)

Ripple Effects From Fannie And Freddie
The crisis at Fannie Mae and Freddie Mac, once the unwavering giants of the mortgage finance industry, could make getting a home loan even more difficult at a time when lenders are already tightening their grip on credit, industry experts and financial advisers said. (Sat, 12 Jul 2008 20:17:47 GMT)

Regulators Seize Mortgage Lender
IndyMac Bancorp, one of the country’s largest mortgage lenders, was a star in the subprime era. (Sat, 12 Jul 2008 21:37:04 GMT)

How Fallout Could Affect Main Street
The swooning stocks of two giant mortgage companies have consumers wondering about the effect on those buying or selling homes. (Sat, 12 Jul 2008 21:37:10 GMT)

From May to May, home loan approvals down 44 per cent
The home loan market continues in its state of torpor, according to the latest survey from the Council of Mortgage Lenders (CML). (Sat, 12 Jul 2008 23:08:14 GMT)

World's largest mortgage providers teeter on the brink of collapse
America's regulators were last night shoring up the country's financial defences, after one of the biggest bank failures in US history sparked fears about the viability of the world's largest mortgage providers. (Sat, 12 Jul 2008 23:23:28 GMT)

The Companies That Control The Mortgage Market
Susan Wachter, professor of financial management and real estate at the University of Pennsylvania's Wharton School of Business, gives a history lesson in the mortgage industry — this week's stars are "Fannie," "Freddie" and "Indy." (Sun, 13 Jul 2008 00:24:01 GMT)

Government shuts down mortgage lender IndyMac
By ALEX VEIGA IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. The bank is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said. The Office of Thrift Supervision said it transferred IndyMac's ... (Sun, 13 Jul 2008 01:33:14 GMT)

US mortgage giants' crisis sparks fear for British banks
Emergency talks were being held this weekend to rescue America’s two biggest mortgage companies amid fears their collapse could hit UK markets. (Sun, 13 Jul 2008 02:36:44 GMT)

On the bubble
As the stock market reacts to the potential collapse of the nation’s two largest mortgage institutions, Fannie Mae and Freddie Mac, the federal government is considering a plan to take over the two companies to provide a guarantee on the $5 trillion of debt they currently own or guarantee. In Rhinelander that news will come as confirmation to what people in small town America have known for ... (Sun, 13 Jul 2008 03:40:07 GMT)

Tips On Buying, Selling Homes In Tough Times
Mortgage rates have risen about a half a percentage point over the past five weeks, according to mortgage research firm HSH Associates' latest survey. (Sun, 13 Jul 2008 04:16:28 GMT)

Australia Mortgage Drop Shows Rates Shouldn't Rise, Broker Says
July 13 (Bloomberg) -- Australia's slowing home-lending market signals the central bank should avoid raising interest rates from a 12-year high, according to the nation's largest mortgage broker. (Sun, 13 Jul 2008 04:39:57 GMT)

Australia Mortgage Drop Shows Rates Shouldn't Rise, Broker Says
July 13 (Bloomberg) -- Australia's slowing home-lending market signals the central bank should avoid raising interest rates from a 12-year high, according to the nation's largest mortgage broker. (Sun, 13 Jul 2008 04:51:20 GMT)

Real estate: Seniors move forward
Retirement is a lot easier for Joann Fisher to finance these days. Finding money tight last year, Fisher took out a reverse mortgage on her home and now receives monthly payments. "It supplemented my monthly income nicely. It almost doubled, actually," Fisher said. (Sun, 13 Jul 2008 06:47:45 GMT)

Woes at Fannie Mae, Freddie Mac likely to trickle down
The crisis at Fannie Mae and Freddie Mac, once the unwavering giants of the mortgage finance industry, could make getting a home loan even more difficult at a time when lenders are already tightening their grip on credit, industry experts and financial advisers said. (Sun, 13 Jul 2008 07:10:50 GMT)

Homeowners fight for mortgage rights
Servicing companies often charging fees after accounts cleared in court (Sun, 13 Jul 2008 08:00:55 GMT)

10 indicted in mortgage fraud probe
CLEVELAND (AP) -- Ten people were charged Friday with mortgage fraud based on an investigation of four separate cases in northeastern Ohio. (Sun, 13 Jul 2008 09:03:13 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, 13 Jul 2008 09:06:11 GMT)

Law would fingerprint mortgage officers
WASHINGTON - Should your mortgage loan officer have fingerprints on file in a national electronic database, even if he or she has never been convicted of a crime? Should you be able to go to a Web site to check out your lender or mortgage broker's professional file - including (Sun, 13 Jul 2008 09:13:20 GMT)

IndyMac Bank, key US mortgage lender collapses
US - Credit Crunch One of the largest US mortgage lenders, the California-based IndyMac Bank, has collapsed amid a growing credit crisis. Federal regulators seized the bank's assets, fearing it might not be able to meet withdrawals by depositors. (Sun, 13 Jul 2008 11:01:13 GMT)

Mortgage situation likely to get worse
WASHINGTON -- The crisis at Fannie Mae and Freddie Mac, once the unwavering giants of the mortgage finance industry, could make getting a home loan even more difficult and more expensive at a time when lenders are already tightening their grip on credit, industry experts and financial advisers said. (Sun, 13 Jul 2008 11:03:31 GMT)

Youth sports: Home Savings and Loan tops Lex minor league
LEXINGTON -- The Home Savings and Loan softball team rallied to earn a 12-7 win in the Lexington Youth Softball Association's minor girls division championship game. (Sun, 13 Jul 2008 11:04:05 GMT)

Setbacks could lead to higher loan rates
WASHINGTON -- The crisis at Fannie Mae and Freddie Mac, once the unwavering giants of the mortgage-finance industry, could make getting a home loan even more difficult at a time when lenders are already tightening their grip on credit, industry experts and financial advisers said. (Sun, 13 Jul 2008 11:42:14 GMT)

30-year mortgage rates rise slightly
WASHINGTON, D.C. - Rates on 30-year mortgages edged up last week, while rates on other home loans were a mixed bag. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.37 percent last week. That was up from 6.35 percent the previous week. (Sun, 13 Jul 2008 13:08:24 GMT)

NAB lifts home loan rates by 15 points
NATIONAL Australia Bank will increase its variable home loan rates, following similar moves by two of its major rivals last week. (Sun, 13 Jul 2008 14:00:00 GMT)

Report: school-bond refinancing costing taxpayers more
County districts may be required to keep bond-refinancing practices aboveboard (Sun, 13 Jul 2008 14:22:29 GMT)

Pinagare home loans excite the market
The new home loan scheme launched by Botswana Building Society (BBS) to specifically benefit young people has been hailed as a move in the right direction. (Sun, 13 Jul 2008 15:48:37 GMT)

Financial Troubles Spread Among Mortgage Lenders
With the failure of IndyMac Bank, the second largest financial institution to close in U.S. history, on Friday, investors are increasingly focused on how mortgage lenders are responding to an uncertain housing market and slumping economy. (Sun, 13 Jul 2008 15:54:11 GMT)

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