Mortgage News Jul 2008

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Rates may spiral upward as home-loan giants' woes deepen
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 18:01:15 GMT)

US mortgage crisis summit
US policymakers held crisis talks on Sunday over possible moves to bolster Fannie Mae and Freddie Mac , amid mounting fears that failure to shore up the troubled mortgage groups could send markets plummeting on Monday morning. (Sun, 13 Jul 2008 18:32:14 GMT)

Indymac failure spotlights US mortgage doldrums
The Unites States' 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. (Sun, 13 Jul 2008 18:45:48 GMT)

Officials considering ways to help mortgage giants
Associated Press - July 13, 2008 3:23 PM ET WASHINGTON (AP) - Government officials are in discussions about developing a plan for propping up the big mortgage companies Fannie Mae and Freddie... (Sun, 13 Jul 2008 19:28:22 GMT)

Government May Aid Mortgage Giants
The federal government unveiled a broad program yesterday evening to bolster troubled mortgage giants Fannie Mae and Freddie Mac, extending unprecedented support to the companies and proposing new authority to lend them money and even buy their stock. (Sun, 13 Jul 2008 19:32:47 GMT)

Officials considering ways to help mortgage giants
Sun, Jul 13, 2008 (12:21 p.m.) Government officials are in discussions about developing a plan for propping up the big mortgage companies Fannie Mae and Freddie Mac should they falter. (Sun, 13 Jul 2008 19:39:07 GMT)

U.S. treasury seen set to speak on mortgage firms
The U.S. Treasury Department will issue a statement on Sunday expressing support for beleaguered mortgage finance lenders Freddie Mac and Fannie Mae , a source familiar with the matter said. (Sun, 13 Jul 2008 19:46:00 GMT)

Officials considering ways to help mortgage giants
Government officials are in discussions about developing a plan for propping up the big mortgage companies Fannie Mae and Freddie Mac should they falter. (Sun, 13 Jul 2008 19:58:04 GMT)

Fed poised to curb shady home-lending practices
Confronted by record foreclosures, the Federal Reserve is ready to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis. (Sun, 13 Jul 2008 20:09:21 GMT)

Troubled mortgage lenders face key test
The U.S. Treasury is expected to affirm its support for troubled mortgage finance giants Fannie Mae and Freddie Mac on Sunday in a bid to calm concerns ahead of a Freddie Mac debt sale Monday which is likely to be a key test of investor confidence. (Sun, 13 Jul 2008 21:58:34 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. (Sun, 13 Jul 2008 22:23:23 GMT)

Today’s Zaman, your gateway to Turkish news
The US housing crisis, fueled by surging mortgage defaults and foreclosures and reflected in the mounting number of unsold houses with plunging prices and skyrocketing homeowner vacancy rates, took a turn for the worse last week as the deepening turbulence buffeted the Federal National Mortgage Association (FNMA), known as "Fannie Mae" and the Federal Home Loan Mortgage Corporation (FHLMC), ... (Sun, 13 Jul 2008 23:15:50 GMT)

Treasury, Fed to help prop up mortgage giants
The U.S. Treasury and the Federal Reserve are announcing steps to shore up mortgage giants Fannie Mae and Freddie Mac. (Sun, 13 Jul 2008 23:23:26 GMT)

U.S. spells out plan to shore up mortgage gaints
The Federal Reserve and the U.S. Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival. (Mon, 14 Jul 2008 00:08:16 GMT)

Asia Markets: Region mixed after U.S. rescue of mortgage firms
HONG KONG (MarketWatch) -- Asian markets were mixed Monday as investors reacted to news that the U.S. government will rescue mortgage giants Fannie Mae and Freddie Mac. Japanese shares rallied on financials such as Mizuho Financial Group, cheering the announcement, while Australian and Singaporean stocks declined in thin trading volumes as investors remained cautious. ... (Mon, 14 Jul 2008 00:51:31 GMT)

Shares fall as credit crunch hits home
ASX follows Wall St lower in early trading CBA and ANZ home loan hikes come into effect Interest rates : See what the RBA and banks are up to (Mon, 14 Jul 2008 01:30:00 GMT)

U.S. moves to shore up mortgage giants
The United States on Sunday offered massive aid to Fannie Mae and Freddie Mac to bolster confidence in the mortgage finance giants and head off a potential meltdown in financial markets. (Mon, 14 Jul 2008 01:32:00 GMT)

U.S. unveils vast plan to save mortgage giants
Announcement of the plan was intended to send a signal that the government was standing behind the beleaguered mortgage companies. (Mon, 14 Jul 2008 02:05:43 GMT)

US Fed promises emergency lending to mortgage agencies
WASHINGTON - The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival. (Mon, 14 Jul 2008 03:22:08 GMT)

New home loan numbers fall again
There is further evidence that this year's interest rate rises are taking their toll, with another fall in the number of home loans being taken out across Australia. (Mon, 14 Jul 2008 03:55:46 GMT)

Mortgage-backed securities take toll on Baltimore thrift
Bay-Vanguard Federal Savings Bank's parent company will take a $166,000 hit to the bottom line as the tough mortgage market has caused one of its investments to lose value. (Mon, 14 Jul 2008 04:13:44 GMT)

Kiwibank cuts home loan rates
Kiwibank has cut around a quarter of a percentage point off its three-year fixed rate mortgage, as it looks to cash in on home owners refixing loans coming due for renewal. (Mon, 14 Jul 2008 04:28:24 GMT)

NAB raises home loan rates
National Australia Bank Ltd has lifted its standard variable mortgage rates by 15 basis points. The bank's standard variable rate home loan will rise to 9.61 per cent from Tuesday (July 15). (Mon, 14 Jul 2008 04:51:55 GMT)

Asia stocks down after US mortgage plan
Most Asian markets fell Monday after the U.S. government announced plans to prop up troubled mortgage financiers Fannie Mae and Freddie Mac. (Mon, 14 Jul 2008 05:51:00 GMT)

Of tax sops, inflation and home loans
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates. (Mon, 14 Jul 2008 06:36:07 GMT)

Mortgage Woes: New financial crisis hits Fannie, Freddie
77The 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 bailout or even go under. (Mon, 14 Jul 2008 07:14:33 GMT)

Home Credit and Finance to raise 125-mln euro loan at EURIBOR+3.25%
MOSCOW. July 14 (Interfax) - Home Credit & Finance Bank (RTS: HCFB) plans to raise a one-year syndicated loan totaling 125 million euro, a source in banking circles told Interfax. Calyon, Erste Bank and ING Bank have received the mandate to organize the loan. (Mon, 14 Jul 2008 07:34:49 GMT)

Macquarie Completes Biggest Australian Mortgage Bond in a Year
July 14 (Bloomberg) -- Macquarie Group Ltd. , Australia's biggest investment bank, raised A$700 million ($677 million) in the nation's biggest sale of mortgage-backed bonds in a year. (Mon, 14 Jul 2008 08:10:06 GMT)

Mortgage bailout plan boosts dollar
Greenback gains against euro on U.S. plan to support mortgage giants Fannie Mae and Freddie Mac. (Mon, 14 Jul 2008 09:51:13 GMT)

UK mortgage lender in takeover talks
British mortgage lender Alliance & Leicester PLC is in advanced talks about a possible takeover, the company said Monday. The lender did not name its potential suitor, but the British Broadcasting Corp. identified it as Banco Santander Central Hispano S.A. of Spain, which already owns British bank Abbey National PLC. (Mon, 14 Jul 2008 10:29:49 GMT)

Asia stocks drop after US mortgage plan
Most Asian markets fell Monday as investors worried over the depth of U.S. credit and housing problems after the country's central bank moved to prop up ailing mortgage financiers Fannie Mae and Freddie Mac. (Mon, 14 Jul 2008 10:48:33 GMT)

Mortgage rules: Will Fed listen to advocates or industry?
The Federal Reserve is caught in a tug-of-war as it prepares on Monday to unveil final rules overhauling mortgage lending. (Mon, 14 Jul 2008 10:49:00 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. (Mon, 14 Jul 2008 10:51:13 GMT)

M&A, US mortgage rescue boost Europe shares
* FTSEurofirst 300 gains 1.4 pct, boosted by banks (Mon, 14 Jul 2008 11:21:27 GMT)

European stocks firmer after US mortgage plan
European stocks were firmer on Monday but Asian markets fell as investors digested measures to bolster US mortgage giants Fannie Mae and Freddie Mac amid a raft of major company takeover news. (Mon, 14 Jul 2008 12:05:02 GMT)

Treasury Acts to Save Mortgage Giants
Alarmed by the sharply eroding confidence in the nation’s two largest mortgage finance companies, the Bush administration on Sunday asked Congress to approve a sweeping rescue package that would give officials the power to inject billions of federal dollars into the beleaguered companies through investments and loans, The New York Times reported. (Mon, 14 Jul 2008 12:11:59 GMT)

World stocks mixed on US mortgage plan
World markets were mixed Monday as investors took in news of U.S. government moves to prop up ailing mortgage financiers Fannie Mae and Freddie Mac. (Mon, 14 Jul 2008 12:43:05 GMT)

Botswana: 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. (Mon, 14 Jul 2008 12:52:58 GMT)

Global market relief on U.S. move to rescue mortgage giants
Stocks traded calmly Monday, after the Bush administration asked Congress to approve a sweeping rescue package of the beleaguered mortgage finance companies. (Mon, 14 Jul 2008 13:05:23 GMT)

Report: school-bond refinancing costing taxpayers more
County districts may be required to keep bond-refinancing practices aboveboard (Mon, 14 Jul 2008 13:31:25 GMT)

Impac Mortgage to acquire servicing platform
Impac Mortgage Holdings Inc., a real estate investment trust focusing on investing in residential mortgages, said Monday it will acquire a special servicing platform from UBS AG. (Mon, 14 Jul 2008 13:32:11 GMT)

Oil flat on mortgage rescue, low supply
Oil prices were virtually unchanged Monday as a plan to aid the major U.S. mortgage finance firms was countered by continuing concerns about supply, particularly after Brazilian oil workers began a 5-day strike. (Mon, 14 Jul 2008 14:06:33 GMT)

Bernanke: new mortgage rules to protect consumers
Federal Reserve Chairman Ben Bernanke on Monday said new final mortgage rules are aimed at protecting consumers from deceptive lending practices that led to many unaffordable subprime loans. (Mon, 14 Jul 2008 14:10:49 GMT)

Despite Lifelines, Concerns Linger on Mortgage Giants
The federal government's assistance plan for Fannie Mae and Freddie Mac steadied the financial markets yesterday but failed to end concern about the future of the mortgage finance giants. (Mon, 14 Jul 2008 14:56:31 GMT)

Federal Reserve Approves Rules to Curb Mortgage-Lending Abuses
July 14 (Bloomberg) -- The Federal Reserve approved mortgage rules that will require lenders to determine a borrower's ability to repay and tighten other practices that led to the collapse of the U.S. housing market. (Mon, 14 Jul 2008 15:33:09 GMT)

Fed bans risky mortgage practices
As the economy continues to suffer from the housing downturn and fallout from risky mortgages, the Federal Reserve Board votes to bar lenders from making higher-priced mortgages without regard to a consumers’ ability to repay. (Mon, 14 Jul 2008 15:36:31 GMT)

Santander bids for UK mortgage lender
Spanish banking giant Banco Santander said Monday it has agreed to buy the British mortgage lender Alliance & Leicester PLC in a deal valued at $2.5 billion. (Mon, 14 Jul 2008 16:21:29 GMT)

Fed acts to stamp out deceptive mortgage practices
By David Lawder and Karey Wutkowski (Mon, 14 Jul 2008 16:28:11 GMT)

Fed acts to stamp out deceptive mortgage practices
By David Lawder and Karey Wutkowski (Mon, 14 Jul 2008 16:28:11 GMT)

Fed acts to stamp out deceptive mortgage practices
The Federal Reserve Board on Monday approved new rules to ban misleading and deceptive practices in mortgage lending, including prepayment penalties for many subprime loans. (Mon, 14 Jul 2008 16:28:11 GMT)

Mergers, US mortgage plan drive up European shares
* FTSEurofirst 300 gains 0.7 pct as banks rally (Mon, 14 Jul 2008 16:35:32 GMT)

Dollar firmer but off highs after US mortgage plans
The dollar was slightly stronger but coming off gains made early Monday after Washington moved to bolster US mortgage giants Fannie Mae and Freddie Mac, dealers said. (Mon, 14 Jul 2008 16:46:49 GMT)

Bank shares plummet amid mortgage fears
Shares of National City Corp and Washington Mutual plummeted more than 25 percent each, leading financial stocks lower on Monday amid fears about bank stability and the future of the mortgage market. (Mon, 14 Jul 2008 17:07:12 GMT)

Pearlstein: Fannie and Freddie
Washington Post columnist Steven Pearlstein was online today at 11:00 a.m. ET to discuss the financial crisis and government-backed mortgage giants Fannie Mae and Freddie Mac. (Mon, 14 Jul 2008 17:10:12 GMT)

Fed acts to stamp out deceptive mortgage practices
WASHINGTON (Reuters) - The Federal Reserve Board on Monday approved new rules to ban misleading and deceptive practices in mortgage lending, including prepayment penalties for many subprime loans. (Mon, 14 Jul 2008 17:15:04 GMT)

Federal Reserve tightens US home mortgage lending
The US Federal Reserve on Monday tightened home mortgage lending in a bid to improve consumer protection from practices blamed in part for the worst US real-estate crisis in decades. (Mon, 14 Jul 2008 17:30:27 GMT)

Dollar rises on mortgage rescue plan
The dollar gained against most foreign currencies Monday as traders cheered the U.S. government's plan to rescue ailing mortgage finance firms Fannie Mae and Freddie Mac. (Mon, 14 Jul 2008 17:51:13 GMT)

Fed OKs Plan To Curb Shady Home-Lending Practices
The Federal Reserve is moving closer to giving home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs. The central bank is expected to approve a plan Monday that would crack down on dubious lending practices that have hurt the riskiest home loan borrowers. (Mon, 14 Jul 2008 18:00:20 GMT)

Fed OKs Plan To Curb Shady Home-Lending Practices
The Federal Reserve is moving closer to giving home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs. The central bank is expected to approve a plan Monday that would crack down on dubious lending practices that have hurt the riskiest home loan borrowers. (Mon, 14 Jul 2008 18:00:20 GMT)

Developments In Mortgage Industry
In national news... The stock market is struggling to find its footing....a (Mon, 14 Jul 2008 18:13:14 GMT)

Fed unveils new rules aimed at curbing shady home loans
The Federal Reserve unanimously approved new mortgage lending rules Monday in a crackdown on shady practices - particularly those involving subprime loans made to borrowers with weak credit. (Mon, 14 Jul 2008 19:32:00 GMT)

FDIC Chairman Sheila Bair's statement on mortgage loans
AUSTIN, Texas (KXAN) -- Federal Deposit Insurance Corporation Chairman Sheila C. Bair issued the following statement on Monday about the Federal Reserve Board's approval of a final rule for home mortgage loans. (Mon, 14 Jul 2008 20:39:34 GMT)

Mortgage fears continue growing
The government is trying to settle fears over the financial survival of two mortgage giants. Monday morning, the Federal Reserve threw a lifeline to Fannie Mae and Freddie Mac after their stock plummeted due to the mortgage crisis. Foreclosures have hit these companies hard. (Mon, 14 Jul 2008 21:28:52 GMT)

Battling the Mortgage Meltdown
The Dow Jones ended Monday off 45 points. Fears about the mortgage crisis and bank stability led to a sell-off of shares. Wachovia and Bank of America both dropped more than a point and a half on Monday. (Mon, 14 Jul 2008 21:52:57 GMT)

Why You Should You Care About The Mortgage Bailout
You may make your mortgage payment each month to your local bank, but chances are good your mortgage is actually owned by Fannie Mae or Freddie Mac. (Mon, 14 Jul 2008 22:17:57 GMT)

HUD secretary details new mortgage assistance
Housing Secretary Steve Preston said Monday that a newly expanded federal mortgage program would help thousands of struggling borrowers get safer, more affordable loans. (Mon, 14 Jul 2008 22:21:58 GMT)

HUD secretary details new mortgage assistance
Associated Press - July 14, 2008 6:35 PM ET KANSAS CITY, Mo. (AP) - U.S. Housing Secretary Steve Preston says a newly expanded federal mortgage program would help thousands of struggling... (Mon, 14 Jul 2008 22:42:00 GMT)

Austen draft is home on loan
Two events of importance are happening at Jane Austen's House Museum in Chawton over the next few weeks. The first is the loan of manuscript material from the British Library. (Tue, 15 Jul 2008 01:33:27 GMT)

Fed tightens mortgage rules, strengthens Fannie, Freddie
Faced with an expanding housing crisis, federal officials acted on two fronts Monday, taking steps to shore up the nation's largest sources of mortgage funds and issuing stiffer mortgage rules to prevent a repeat of the subprime debacle. (Tue, 15 Jul 2008 02:02:50 GMT)

Bank stocks sink, mortgage bigs get bailout
The crisis wreaking havoc in the banking industry shows no signs of slowing as more bad news roiled Wall Street. Even as the government leaped in to help two ailing mortgage giants, the big question among investors was: How bad will it get and how long will it last? (Tue, 15 Jul 2008 03:08:35 GMT)

Local mortgage experts weigh in
Charleston-area mortgage experts said Monday they expect the federal government to succeed in working out a plan to support mortgage backers Fannie Mae and Freddie Mac because of the vital role the two companies play in keeping home loans available and affordable. (Tue, 15 Jul 2008 04:42:42 GMT)

Brian J. O'Connor: American taxpayers: Mortgage fix too small to matter
The federal bailout of mortgage backers Fannie Mae and Freddie Mac brings to mind the phrase "moral hazard." (Tue, 15 Jul 2008 05:17:05 GMT)

Central bank cracks down on mortgage lenders
The nation's central bank clamped down hard Monday on mortgage lenders, issuing new rules designed to curb the kind of shady practices that led to the subprime mortgage crisis. (Tue, 15 Jul 2008 05:47:20 GMT)

Fed acts to stamp out deceptive mortgage practices
WASHINGTON: The US Federal Reserve Board yesterday approved new rules to ban misleading and deceptive practices in mortgage lending, including prepayment penalties for many subprime loans. (Tue, 15 Jul 2008 06:04:52 GMT)

Westpac lifts home loan rates by 0.14%
Westpac Banking Corporation has lifted its standard variable mortgage rate by 14 basis points. The bank's standard variable rate home loan will rise to 9.61 per cent, effective from July 17. (Tue, 15 Jul 2008 06:06:53 GMT)

Westpac lifts home rates
WESTPAC Banking Corporation has lifted its standard variable mortgage rate by 14 basis points, in what is its sixth home-loan rate rise this year. (Tue, 15 Jul 2008 06:23:00 GMT)

Refinance to clear decks after divorce
Refinancing is the best way for a woman to pay her ex the appropriate home equity stake, says Dr. Don Taylor. (Tue, 15 Jul 2008 10:00:00 GMT)

New Advanced Online Real Estate and Mortgage Calculation Tools For Investors and Homeowners
RealEstate-Calc.com and REIcalc.com are new websites which provide some of the most unique and sophisticated calculation tools for investors and homeowners. These tools are useful in determining home financing needs and understanding the financial implications of home ownership. With the current mortgage crisis, the general public could benefit greatly from improved tools and education on the ... (Tue, 15 Jul 2008 10:15:00 GMT)

Global stocks dive on scepticism over US mortgage rescues
World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance. (Tue, 15 Jul 2008 10:41:29 GMT)

BofA loses mortgage servicing exec
A former top Bank of America Corp. mortgage executive has joined a Jacksonville, Fla.-based loan processing company. Bob Caruso, formerly the Charlotte bank's head of mortgage servicing, is now executive vice president of strategy and business development for Lender Processing Services Inc., which provides technology and other services to the mortgage industry. The move comes as Bank of ... (Tue, 15 Jul 2008 10:44:00 GMT)

Oxford Reviews Possible Mortgage Banking Acquisition
Oxford Funding Corp. is reviewing information supplied under a confidentiality agreement in connection with the possible acquisition of a mortgage banking company located on the East Coast. The potential acquisition candidate is a licensed FHA lender in excess of 30 states, and operates with an active multi-location lending operation and an automated underwriting engine. (Tue, 15 Jul 2008 11:00:00 GMT)

Ind. Mortgage Brokers Face Tougher Licensing Laws
New lending laws in Indiana could put some mortgage brokerage firms out of business by the end of the month. The rules prevent brokerages from holding a license in the state without meeting an experience threshold and passing a mortgage law exam. The changes are already causing some brokers to make a move. Stan Jastrzebski reports from member station WFIU . (Tue, 15 Jul 2008 12:06:48 GMT)

Global stocks dive on scepticism over US mortgage rescues
World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance. (Tue, 15 Jul 2008 12:24:11 GMT)

Federal Reserve tightens mortgage rules
Federal officials took steps to shore up the nation's largest sources of mortgage funds at the same time they issued stiffer mortgage rules to prevent a repeat of the subprime debacle. Real estate news (Tue, 15 Jul 2008 14:18:39 GMT)

Bush prods Congress to pass bills to aid mortgage giants
President Bush is calling on Congress to move quickly to put into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac. (Tue, 15 Jul 2008 14:40:39 GMT)

Plans to lift UK mortgage lending
Mortgage lenders draw up a plan to help kick-start the mortgage market as the credit squeeze continues. (Tue, 15 Jul 2008 14:52:27 GMT)

Bush urges Congress to shore up mortgage giants, lift ban on offshore drilling
President George W. Bush urged lawmakers on Tuesday to move quickly in putting into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac while declaring the U.S. financial system to be "basically sound." (Tue, 15 Jul 2008 15:18:37 GMT)

HUD secretary details new mortgage assistance
Housing Secretary Steve Preston said that a newly expanded federal mortgage program would help thousands of struggling borrowers get safer, more affordable loans. (Tue, 15 Jul 2008 15:34:20 GMT)

HUD secretary details new mortgage assistance
KANSAS CITY, Mo. (AP) — Housing Secretary Steve Preston said Monday that a newly expanded federal mortgage program would help thousands of struggling borrowers get safer, more affordable loans. (Tue, 15 Jul 2008 16:45:21 GMT)

Bush Prods Congress On Mortgage Giants
President Bush is calling on Congress to move quickly to put into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac and lift a ban on offshore drilling. (Tue, 15 Jul 2008 17:00:04 GMT)

Paulson sees mortgage assistance as backup
Treasury Secretary Henry Paulson said Tuesday the Bush administration has no immediate plans to extend emergency loans to mortgage giants Fannie Mae and Freddie Mac or to purchase the stock of the two companies. (Tue, 15 Jul 2008 17:36:49 GMT)

Sector Snap: Mortgage worries hit health insurers
Shares of health insurers lurched downwards and then recovered Tuesday as analysts worried about the impact the mortgage crisis could have on companies like WellPoint, Humana Inc. and others. (Tue, 15 Jul 2008 17:53:56 GMT)

Paulson lobbies for mortgage rescue plan
WASHINGTON, July 15 (UPI) -- U.S. Treasury Secretary Henry Paulson Jr. said Tuesday that two troubled mortgage giants should remain in the hands of shareholders. (Tue, 15 Jul 2008 18:06:27 GMT)

Inheriting A Reverse Mortgage
Rude mortgage companies, students buying houses, babies on the way: What should the savvy consumer do at life's crossroads? Personal finance contributor Michelle Singletary discusses how to resolve the reverse mortgage of someone who has died, whether to buy a home while living off student loans and how to prioritize debt. (Tue, 15 Jul 2008 18:39:11 GMT)

ALL BUSINESS:Taxpayers on hook for mortgage rescue
We knew it could happen, even though they said it wouldn't. The government is using our money again to haul private companies' hindquarters out of the fire — this time it's troubled mortgage giants Fannie Mae and Freddie Mac. (Tue, 15 Jul 2008 18:39:16 GMT)

ALL BUSINESS:Taxpayers on hook for mortgage rescue
NEW YORK -- We knew it could happen, even though they said it wouldn't. The government is using our money again to haul private companies' hindquarters out of the fire _ this time it's troubled mortgage giants Fannie Mae and Freddie Mac. (Tue, 15 Jul 2008 20:17:29 GMT)

Key developments on housing, mortgage rescue plan
Congress is pressing to complete a broad housing rescue package that includes a mortgage aid program for strapped homeowners, modernizes the Federal Housing Administration and creates a new regulator and tighter controls over government-sponsored mortgage giants Fannie Mae and Freddie Mac. (Tue, 15 Jul 2008 20:49:56 GMT)

Federal Home Loan Bank of Indianapolis Announces 2008 Second Quarter Dividend
INDIANAPOLIS, July 15, 2008 -- On July 15, 2008, the board of directors of the Federal Home Loan Bank of Indianapolis declared a dividend on B-1 stock at an annualized rate of 5.25%. (Tue, 15 Jul 2008 21:27:37 GMT)

Former building societies Abbey and Alliance & Leicester are to be merged under a £1.26 billion deal announced today.
Ferrovial, the Spanish owner of the UK's major airports including Glasgow, Edinburgh and Aberdeen, has finally been given the green light for a refinancing which ought to pave the way for reinvestment. (Tue, 15 Jul 2008 22:16:52 GMT)

Home loan bond for Calif. veterans on Nov. ballot
An initiative to extend California's low-interest home loan program to recent war veterans is the 12th measure to qualify for California's November ballot. (Wed, 16 Jul 2008 01:34:17 GMT)

Home loan bond for Calif. veterans on Nov. ballot
Associated Press - July 15, 2008 9:34 PM ET SACRAMENTO (AP) - An initiative to extend California's low-interest home loan program to recent war veterans is the 12th measure to qualify for... (Wed, 16 Jul 2008 01:51:31 GMT)

Home loan bond for California veterans on Nov. ballot
An initiative to extend California's low-interest home loan program to recent war veterans is the 12th measure to qualify for California's November ballot. (Wed, 16 Jul 2008 04:31:30 GMT)

Home loan bond for California veterans on Nov. ballot
An initiative to extend California's low-interest home loan program to recent war veterans is the 12th measure to qualify for California's November ballot. (Wed, 16 Jul 2008 04:33:42 GMT)

Home Savings says exiting public accounts
SALEM - Removing money from public entity accounts represents a change in policy at the Youngstown-based Home Savings and Loan Company. During a Perry Township trustee meeting on Monday, Fiscal Officer Susan Johnston reported the township received notice from the company to remove its money within 30 days. Johnston said no reason was given for the change and trustees voted to place the money, $ (Wed, 16 Jul 2008 05:05:25 GMT)

Raiffeisenbank, Wustenrot raise mortgage volumes in H1
Prague, July 15 (CTK) - Raiffeisenbank reported a growth in new mortgage loans in H1 this year by more than a fifth to Kc12.4bn and Wuestenrot provided Kc1.2bn worth of mortgages in the said period, up 52 percent year-on-year, the banks have said. (Wed, 16 Jul 2008 06:11:07 GMT)

CenturyPoint Mortgage Certified as an Upfront Mortgage Lender
CenturyPoint Mortgage, a division of First Century Bank, N.A., recently received certification as an Upfront Mortgage Lender. The Upfront Mortgage Lender (UML) program is the first of its kind to help borrowers identify lenders that are committed to treating them fairly throughout the lending process. (Wed, 16 Jul 2008 07:01:00 GMT)

Platinum Funding Offers Insider Tips for Navigating the Treacherous Mortgage Loan Market
Recent changes related to the subprime lending crisis have had a huge effect on how consumers qualify for mortgage loans. Subprime mortgages have now been credited for bankrupting well over 200 mortgage lenders and seriously damaging many major firms. (Wed, 16 Jul 2008 07:01:00 GMT)

$20M MORTGAGE CROOK IN 'DWI'
A Brooklyn man who faces up to 30 years in prison for a $20 million mortgage fraud was arrested for driving drunk and doing 90 mph in a Bentley on the Staten Island Expressway. Aleksander Lipkin, 29, of Sheepshead Bay, was speeding in a bus lane... (Wed, 16 Jul 2008 08:56:31 GMT)

Ahead of the Bell: Mortgage Applications
Industry data to be released Wednesday will show whether home loan applications fell as mortgage rates ticked up slightly. (Wed, 16 Jul 2008 09:58:16 GMT)

Ahead of the Bell: Mortgage Applications
(AP:WASHINGTON) Industry data to be released Wednesday will show whether home loan applications fell as mortgage rates ticked up slightly. The Mortgage Bankers Association is scheduled to report its index of mortgage application volume for the week ended July 11 at 7 a.m. EDT. (Wed, 16 Jul 2008 10:17:52 GMT)

Mortgage applications rose 1.7% last week
Mortgage applications rise a seasonally adjusted 1.7% in the week ended July 11 compared with the previous week, driven by an uptick in homeowners interested in refinancings, the Mortgage Bankers Association reports. (Wed, 16 Jul 2008 11:21:24 GMT)

Nationwide to cut mortgage rates
The Nationwide is to cut its mortgage rates for the second time in as many weeks (Wed, 16 Jul 2008 11:28:32 GMT)

Mortgage applications rise 1.7 percent
Mortgage application volume rose 1.7 percent during the week ending July 11, according to the trade group Mortgage Bankers Association's weekly application survey. (Wed, 16 Jul 2008 11:30:12 GMT)

Dade police arrest 30 on mortgage fraud charges
Miami-Dade County Mayor Carlos Alvarez on Tuesday announced the arrests of 30 people on charges related to mortgage fraud, as he highlighted the ongoing efforts of a public-private task force charged with cracking down on the prevalent white-collar crime. (Wed, 16 Jul 2008 11:40:05 GMT)

Foreclosure Victims Can Use Funny Website to 'Get Back' at Mortgage Brokers
Move over lawyers, mortgage brokers have joined the ranks of the most hated professions. With millions of homeowners falling into foreclosure, many people believe the mortgage industry is at fault. (Wed, 16 Jul 2008 12:10:00 GMT)

Mortgage Applications Edge Up
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume edged up last week, thanks to an advance in refinancing activity. Purchase activity for the week ticked down. (Wed, 16 Jul 2008 12:51:18 GMT)

Rate cuts may fail to ease home loan pain
IT was a simpler world in December 2001, when home owners were last able to celebrate a fall in their variable mortgage rates after a 25 basis point cut in official rates. (Wed, 16 Jul 2008 14:00:00 GMT)

Mortgage applications rise 1.7%
Number of applicants for home loans increased last week as interest rates fell. (Wed, 16 Jul 2008 14:21:33 GMT)

Bernanke: Mortgage giants 'in no danger of failing'
WASHINGTON — Federal Reserve Chairman Ben Bernanke told Congress today that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing." (Wed, 16 Jul 2008 15:53:23 GMT)

HUD secretary details new mortgage assistance
KANSAS CITY, Mo. (AP) — Housing Secretary Steve Preston said Monday that a newly expanded federal mortgage program would help thousands of struggling borrowers get safer, more affordable loans. (Wed, 16 Jul 2008 16:41:38 GMT)

US mortgage firms safe, says Fed
US mortgage firms Fannie Mae and Freddie Mac are not at risk of collapse, Federal Reserve boss Ben Bernanke insists. (Wed, 16 Jul 2008 16:47:16 GMT)

FBI mortgage probe expands to 21 firms from 19
The FBI's investigation into potential corporate fraud in the U.S. home mortgage industry now encompasses 21 companies, up from 19 reported in April, a bureau spokesman said on Wednesday. (Wed, 16 Jul 2008 18:09:07 GMT)

Anworth Mortgage declares dividend of 29 cents
Mortgage real estate investment trust Anworth Mortgage Asset Corp. said its board declared a second-quarter cash dividend of 29 cents. (Wed, 16 Jul 2008 18:49:41 GMT)

FBI investigates possible loan fraud at IndyMac
The Associated Press has learned that now-defunct IndyMac Bancorp Inc. is under investigation for possible fraud in connection with home loans made to risky borrowers. (Wed, 16 Jul 2008 18:54:24 GMT)

FBI investigating possible home-loan fraud at IndyMac Bancorp.
WASHINGTON - Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers, The Associated Press has learned. (Wed, 16 Jul 2008 19:04:42 GMT)

Republicans Push Back As Paulson Urges Aid For Mortgage Giants
Treasury Secretary Henry M. Paulson Jr. returned to Capitol Hill yesterday to quell a potential rebellion among House Republicans worried that the Bush administration's plan to prop up mortgage finance giants Fannie Mae and Freddie Mac could lead to a taxpayer bailout. (Wed, 16 Jul 2008 19:23:58 GMT)

Tamalpais Bank creates alliance to enter residential mortgage business
Tamalpais Bank said Wednesday that it established an alliance with Petaluma-based First California Mortgage Co. to offer bank customers residential mortgages for up to $10 million. (FNM) (FRE) (TAMB) (Wed, 16 Jul 2008 19:51:38 GMT)

U.S. mortgage applications up last week
The volume of applications for U.S. mortgages increased last week, gaining by a seasonally adjusted 1.7 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, was 522.2 in the week ending July 11, compared to 513.4 a week earlier, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index increased to 1,474.9, up 6.9 ... (Wed, 16 Jul 2008 20:08:58 GMT)

FBI probes possible home-loan fraud at IndyMac
(AP:WASHINGTON) Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers, The Associated Press has learned. It was not immediately clear how long the FBI's probe of the bank has been ongoing. (Wed, 16 Jul 2008 21:18:28 GMT)

FBI probes possible home-loan fraud at IndyMac
The FBI is investigating failed bank IndyMac Bancorp Inc. for possible fraud, an official said Wednesday of the government's latest target following the collapse of the nation's subprime mortgage market. (Wed, 16 Jul 2008 21:48:15 GMT)

Japan private firms' U.S. mortgage exposure seen over $95 bln
SAN FRANCISCO (MarketWatch) -- Japan's private-sector financial institutions held slightly more than 10 trillion yen ($95 billion) in debt securities issued by U.S. mortgage lenders such as Fannie Mae and Freddie Mac as of the end of the fiscal year in March, according to a published report. (Wed, 16 Jul 2008 22:36:24 GMT)

Economy - Tuesday
Mortgage applications rise 1.7% (Wed, 16 Jul 2008 22:51:03 GMT)

Tamalpais Bank dips toe in mortgage business
Tamalpais Bank has launched a program with First California Mortgage Co. (Wed, 16 Jul 2008 23:21:42 GMT)

Administration presses for mortgage giant rescue
The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants. The administration's request for urgent action to prop up the troubled companies has sparked concern in Congress, particularly among ... (Wed, 16 Jul 2008 23:41:02 GMT)

Administration presses for mortgage giant rescue
Wed, Jul 16, 2008 (4:57 p.m.) The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants. (Thu, 17 Jul 2008 00:14:16 GMT)

NAB's $580m exposure to US mortgage giants
NATIONAL Australia Bank yesterday revealed it was holding up to $580 million in bonds issued by troubled US government-sponsored mortgage companies Fannie Mae and Freddie Mac. (Thu, 17 Jul 2008 00:30:00 GMT)

Relief in the mortgage market as lenders finally start lowering rates
Mortgage lenders have finally started to cut their rates - bringing welcome relief for homeowners. (Thu, 17 Jul 2008 00:41:00 GMT)

Administration presses for mortgage giant rescue
The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants. (Thu, 17 Jul 2008 01:14:37 GMT)

Figures in Both Campaigns Have Deep Ties to Mortgage Giants
When Fannie Mae and Freddie Mac's stock prices plunged and rumors of their insolvency swirled, the presidential campaigns of Sens. John McCain and Barack Obama released terse statements about the mortgage giants, then went nearly silent. (Thu, 17 Jul 2008 01:38:25 GMT)

New mortgage company offers variety
Bill Blair, branch manager at the new First National Bank Mortgage at 302 E. Fourth Street, wants people to know what makes his company different than other companies. (Thu, 17 Jul 2008 06:35:29 GMT)

Mortgage troubles? Phone counseling available
The Neighborhood Assistance Corporation of America is doing something that should have been done a long time ago. (Thu, 17 Jul 2008 07:17:55 GMT)

Mortgage troubles? Here's help
(Thu, 17 Jul 2008 08:06:37 GMT)

FBI to probe 21 high-risk mortgage firms
The FBI announced Wednesday that it is investigating 21 high-risk mortgage companies, up from 17 companies as recently as March. (Thu, 17 Jul 2008 08:30:17 GMT)

East-side residents fight mortgage crisis
Overgrown lawns, broken windows and tell-tale lock boxes are becoming more common sights in east Des Moines, where the number of vacated homes continues to increase as part of the nationwide mortgage crisis. (Thu, 17 Jul 2008 09:20:29 GMT)

FBI 'probes US mortgage lender'
Failed US mortgage lender IndyMac Bank is reportedly being investigated by US officials over suspected fraud. (Thu, 17 Jul 2008 10:12:05 GMT)

White House pushes mortgage-giant rescue
The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants. The administration's request for urgent action to prop up the troubled companies has sparked concern in Congress, particularly among ... (Thu, 17 Jul 2008 10:42:45 GMT)

White House pushes mortgage-giant rescue
The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants. The administration's request for urgent action to prop up the troubled companies has sparked concern in Congress, particularly among ... (Thu, 17 Jul 2008 10:48:19 GMT)

Finding the home loan that's right for you
It's probably no surprise that nearly all buyers require financing for their home purchase. The real challenge is not so much in getting the loan as it is in finding the loan that's right for you. (Thu, 17 Jul 2008 11:16:48 GMT)

Battered mortgage giants spent about $186 million on lobbying, political contributions
WASHINGTON (AP) _ For years, mortgage giants Fannie Mae and Freddie Mac tenaciously worked to nurture, and then protect, their financial empires by invoking the political sacred cow of homeownership and fielding an army of lobbyists, power brokers and political contributors. (Thu, 17 Jul 2008 11:49:13 GMT)

Nationwide and C&G trim mortgage rates
Nationwide and Cheltenham & Gloucester have become the latest lenders to trim their mortgage rates, reflecting a slight easing in wholesale borrowing costs. (Thu, 17 Jul 2008 11:51:00 GMT)

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