Mortgage News Jul 2008

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Mortgage rates up sharply
WASHINGTON — Mortgage rates shot up this week, with 30-year mortgages climbing to the highest level in nearly a year, reflecting concerns in financial markets about the troubles at mortgage giants Fannie Mae and Freddie Mac. (Fri, 25 Jul 2008 11:08:01 GMT)

Financial fears push mortgage rates up
WASHINGTON - Mortgage rates shot up this week, with 30-year mortgages hitting the highest level in nearly a year, reflecting concerns in financial markets about the troubles at corporate giants Fannie Mae and Freddie Mac. (Fri, 25 Jul 2008 11:09:31 GMT)

Dodd Plans To Disclose Loan Details After Bill Passage
Sen. Chris Dodd said he intends to release more information on his home loans from Countrywide — the giant mortgage company now owned by Bank of America — as soon as he gets his foreclosure rescue bill passed in the Senate and signed by President Bush. (Fri, 25 Jul 2008 11:32:46 GMT)

Halifax cuts mortgage rates again
The UK's biggest mortgage lender, the Halifax, is cutting some of its interest rates for new borrowers, for the third time this month. (Fri, 25 Jul 2008 12:11:45 GMT)

Relief for first-time buyers as Halifax cuts home loan rates for the third time this month
Britain's biggest mortgage lender announced today that it was cutting its mortgage rates for the third time this month. (Fri, 25 Jul 2008 12:32:48 GMT)

Halifax cuts mortgage rates again
The UK's biggest mortgage lender, Halifax, cuts some of its interest rates for new borrowers, for the third time this month. (Fri, 25 Jul 2008 12:33:53 GMT)

Halifax cuts home loan rates again
Britain's biggest mortgage lender has announced that it was cutting its mortgage rates for the third time this month. Halifax is reducing the cost of a number of its fixed-rate products by up to 0.3%, while rates on some tracker deals are coming down by 0.1%. (Fri, 25 Jul 2008 12:40:52 GMT)

Mortgage industry gets a grilling in Washington
A key House committee was set to grill home lenders and housing advocates on Friday about mortgage industry efforts to work out affordable loans for troubled homeowners. (Fri, 25 Jul 2008 14:20:29 GMT)

Senate expected to pass foreclosure rescue, mortgage giant backstop to revive housing market
My neighbor buys a 700,000 dollar house, a Lexus and a Hummer, takes long carribean vacations, and now I get to pay his mortgage. What a … read more wonderful government we have. (Fri, 25 Jul 2008 14:32:36 GMT)

HBOS cuts mortgage rates
HBOS , Britain's biggest mortgage lender, said it is cutting rates on some of its home loans, the third time it has reduced borrowing costs this month. (Fri, 25 Jul 2008 14:47:00 GMT)

Mortgage industry grilled in Washington
A key House committee was set to grill home lenders and housing advocates on Friday about mortgage industry efforts to work out affordable loans for troubled homeowners. (Fri, 25 Jul 2008 15:05:39 GMT)

Home Foreclosures Double In 2nd Quarter
Home foreclosure filings more than doubled in the second quarter of 2008 from a year ago, according to real estate data released Friday by RealtyTrac Inc. Nationwide, 739,714 households — one in every 171 — received at least one foreclosure-related notice from April to June. (Fri, 25 Jul 2008 16:13:15 GMT)

Ex-Haitian Strongman Convicted Of N.Y. Mortgage Fraud
NEW YORK -- A once-feared Haitian paramilitary leader has been convicted in a New York mortgage fraud scheme to cheat lenders out of $1.7 million. A Brooklyn jury found Emmanuel "Toto" Constant guilty on Friday of fraud and grand larceny. (Fri, 25 Jul 2008 17:17:30 GMT)

Real Estate Weekly: Cash-out refinancing picks up, but lower rates are the attraction
Don't miss these top stories: (Fri, 25 Jul 2008 17:33:06 GMT)

Indiana mortgage brokers could lose licenses
Indiana's secretary of state warned mortgage brokers earlier this month that they would lose their licenses if they didn't pass a state-required test by Aug. 5. But it appears most of them aren't worried about the threat. (Fri, 25 Jul 2008 17:36:18 GMT)

Pearlstein: Mortgage Foreclosure Crisis
Washington Post columnist Steven Pearlstein was online Friday, July 25 at 11:00 a.m. ET to discuss the mortgage foreclosure crisis, the housing legislation that recently passed in the House and the rescue of Fannie Mae and Freddie Mac. (Fri, 25 Jul 2008 18:04:59 GMT)

Housing bill clears hurdle, Saturday vote seen
A sweeping bill to aid the battered U.S. housing market and provide an emergency backstop for the mortgage finance system cleared a procedural hurdle in the Senate on Friday, setting it up for a Saturday vote. (Fri, 25 Jul 2008 18:13:22 GMT)

U.S. Stocks Rise on Durable Goods, Home Sales, Confidence Data
July 25 (Bloomberg) -- U.S. stocks rose on growing speculation the worst of the economic slowdown is over after better-than-forecast reports on durable goods orders, consumer confidence and new-home sales. (Fri, 25 Jul 2008 19:07:08 GMT)

More than 500 Indiana mortgage brokers still haven't taken state test
INDIANAPOLIS — Indiana’s secretary of state warned mortgage brokers earlier this month that they would lose their licenses if they didn’t pass a state-required test by Aug. 5. But it appears most of them aren’t worried about the threat. Just 83 people have passed the exam since Secretary of State Todd Rokita’s warning July 7, while more than 500 brokers are still on track to lose their ... (Fri, 25 Jul 2008 19:11:25 GMT)

Hundreds of mortgage brokers could lose licenses
INDIANAPOLIS (AP) - Most Indiana mortgage brokers still haven't passed a state-required test since Secretary of State Todd Rokita warned earlier this month that they'd need the test by August 5th to stay in business. (Fri, 25 Jul 2008 19:28:58 GMT)

Housing rescue on track to pass Senate by Saturday
The Senate cleared the last hurdle Friday to passing a housing rescue aimed at sparing hundreds of thousands of homeowners from foreclosure and bolstering troubled mortgage giants Fannie Mae and Freddie Mac. (Fri, 25 Jul 2008 19:47:55 GMT)

Mortgage aid passes test in Senate
The Senate cleared the last hurdle Friday to passing a housing rescue aimed at sparing hundreds of thousands of homeowners from foreclosure and bolstering troubled mortgage giants Fannie Mae and Freddie Mac. (Fri, 25 Jul 2008 20:43:57 GMT)

Housing bill clears test, foreclosure halt asked
Housing market rescue legislation cleared a procedural test vote in the U.S. Senate on Friday ahead of final passage expected on Saturday, and lawmakers asked banks to suspend further foreclosures until a new mortgage refinancing program gets going on October 1. (Fri, 25 Jul 2008 20:47:28 GMT)

Reverse Mortgage Pitfalls
Tap into your home equity with a reverse mortgage, but beware the risks. Here's how you can get burned. (Fri, 25 Jul 2008 21:47:34 GMT)

Federal Home Loan Bank of San Francisco Reports Second Quarter Operating Results
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today announced that its second quarter 2008 net income rose $79 million, or 55%, to $223 million from $144 million in the second quarter of 2007. (Fri, 25 Jul 2008 22:05:00 GMT)

Relief for first-time buyers as Halifax cuts home loan rates for the third time this month
Halifax has cut several of its mortgage loan rates for the third time this month. (Fri, 25 Jul 2008 23:47:09 GMT)

Mortgage rates rise to highest level in a year
Mortgage rates took a big jump this week, to their highest point in a year. There's no single explanation for the rise. (Sat, 26 Jul 2008 00:05:55 GMT)

US housing bill clears test, foreclosure halt asked
WASHINGTON - HOUSING market rescue legislation cleared a procedural test vote in the United States Senate on Friday ahead of final passage expected on Saturday, and lawmakers asked banks to suspend further foreclosures until a new mortgage refinancing programme gets going on Oct 1. (Sat, 26 Jul 2008 00:17:29 GMT)

N.Y. jury: Ex-Haitian paramilitary leader guilty of mortgage fraud
A former Haitian paramilitary leader who has been branded a ruthless killer by human rights groups was convicted Friday of helping hatch a mortgage fraud scheme that cheated lenders out of $1.7 million. (Sat, 26 Jul 2008 00:17:58 GMT)

Buying A Home In The Credit Crunch
In the U.S. housing market, all signs point to a buyer's market. But the economy's also in a credit crunch - which doesn't favor buyers. Kelly Cobiella has a few tips for prospective buyers in this Hitting Home . (Sat, 26 Jul 2008 02:00:02 GMT)

Dodd to release loan information
HARTFORD, Conn., July 25 (UPI) -- Connecticut Sen. Chris Dodd said he plans to give additional details about his home loans amid accusations he received special treatment as a Senate member. (Sat, 26 Jul 2008 02:05:30 GMT)

Bill would help ease mortgage mess pain
The U.S. Senate was poised to vote today, July 26, on the most comprehensive legislation dealing with the mortgage crisis to date — a bill that would allow thousands of homeowners to replace their old mortgages with new fixed-rate loans, provide a tax break for first-time homeowners and give money to communities to tear down abandoned, foreclosed upon homes. (Sat, 26 Jul 2008 03:06:25 GMT)

Mortgage rates jump to 6.63%
WASHINGTON - Mortgage rates shot up this week with 30-year mortgages climbing to the highest level in nearly a year, reflecting concerns in financial markets about the troubles at corporate giants Fannie Mae and Freddie Mac. (Sat, 26 Jul 2008 04:12:49 GMT)

Home Savings bank opening its doors soon
GLENMOOR - The Home Savings and Loan bank in Glenmoor will reopen its doors on Monday. The Glenmoor branch located at 46635 Y & O Rd, that was damaged by a large truck hitting the drive-thru canopy in mid-June, will offer extended lobby hours to help customers while the drive-thru lanes are closed. The repairs for the damaged section will hopefully be repaired by October. (Sat, 26 Jul 2008 04:14:00 GMT)

How to look for common defects when buying home
Last year, before the subprime crisis hit, a home buyer was on the verge of purchasing his first home. His mortgage broker told him that qualifying for a mortgage would not be a problem. After reviewing the numbers of an attractive teaser-rate adjustable, the buyer had second thoughts. He called a knowledgeable friend and asked her to review the loan documents with him. After fully understanding ... (Sat, 26 Jul 2008 05:43:09 GMT)

Bill would help ease mortgage mess pain
The U.S. Senate was poised to vote today, July 26, on the most comprehensive legislation dealing with the mortgage crisis to date — a bill that would allow thousands of homeowners to replace their old mortgages with new fixed-rate loans, provide a tax break for first-time homeowners and give money to communities to tear down abandoned, foreclosed upon homes. (Sat, 26 Jul 2008 06:06:27 GMT)

Provisions of housing-mortgage relief bill
The housing bill Congress plans to send President Bush would: (Sat, 26 Jul 2008 07:53:10 GMT)

Hundreds of mortgage brokers could lose licenses
INDIANAPOLIS - Indiana's secretary of state warned mortgage brokers earlier this month that they would lose their licenses if they didn't pass a state-required test by Aug. 5. But it appears most of them aren't worried about the threat. (Sat, 26 Jul 2008 08:24:47 GMT)

Senate Close to Passing Housing Aid Bill
Senate expected to pass foreclosure rescue, mortgage giant backstop to revive housing market (Sat, 26 Jul 2008 08:29:32 GMT)

Mortgage bailout nears final passage
A landmark housing bill crafted to aid hundreds of thousands homeowners facing foreclosure and to buttress the mortgage market cleared a final procedural hurdle Friday and is expected to get final congressional approval Saturday. (Sat, 26 Jul 2008 08:42:57 GMT)

Mortgage brokers shun state exam
Indiana's secretary of state warned mortgage brokers earlier this month that they would lose their licenses if they didn't pass a state-required test by Aug. 5. (Sat, 26 Jul 2008 09:05:05 GMT)

A banking merger that (surprisingly) makes sense
The acquisition of Alliance & Leicester, a British home-loan bank, by Banco Santander of Spain looks like a great deal all around, but especially for Santander. (Sat, 26 Jul 2008 09:46:52 GMT)

Reverse Mortgage Pitfalls
Tap into your home equity with a reverse mortgage, but beware the risks. Here's how you can get burned. (Sat, 26 Jul 2008 10:10:28 GMT)

Mortgage rates rise to the highest level in a year
Mortgage rates took a big jump this week, to their highest point in a year. There's no single explanation for the rise. (Sat, 26 Jul 2008 10:14:47 GMT)

Senate close to passing housing aid
Homeowners struggling to make their house payments could get government mortgage relief under a rescue plan that seeks to revive the chaotic housing market and help reverse the economic downturn. (Sat, 26 Jul 2008 10:35:29 GMT)

Senate close to approving housing rescue bill
Homeowners struggling to make their house payments could get government mortgage relief under a rescue plan that seeks to revive the chaotic housing market and help reverse the economic downturn. (Sat, 26 Jul 2008 13:28:28 GMT)

Hundreds of mortgage brokers could lose licenses
Most Indiana mortgage brokers still haven't passed a state-required test since Secretary of State Todd Rokita warned earlier this month that they'd need the test by August 5th to stay in business. (Sat, 26 Jul 2008 14:10:25 GMT)

Best Places To Stash $$ During Downturn
Ray Martin answered questions on that, mortgage refinancing, and kids saving for college, on The Early Show . (Sat, 26 Jul 2008 15:00:04 GMT)

Provisions of housing-mortgage relief bill
The housing bill that Congress passed Saturday and sent to President Bush would: (Sat, 26 Jul 2008 15:31:20 GMT)

Provisions of housing-mortgage relief bill
-- The housing bill that Congress passed Saturday and sent to President Bush would: (Sat, 26 Jul 2008 15:50:11 GMT)

How housing rescue bill can help you
The Senate on Saturday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac. (Sat, 26 Jul 2008 16:05:29 GMT)

Landmark mortgage bill clears Congress
Landmark housing legislation cleared Congress on Saturday, giving the Bush administration an array of new tools to try to shore up mortgage markets and stave off foreclosures threatening hundreds of thousands of homeowners. (Sat, 26 Jul 2008 16:15:00 GMT)

Landmark mortgage bill clears Congress
Measure gives administration new tools to try to shore up mortgage markets. See also: Fish in the sun (Sat, 26 Jul 2008 16:26:00 GMT)

Buffalo area lags nation in number of home foreclosures as mortgage crisis passes us by
Erie County has largely avoided the impact of the home mortgage crisis that has crippled housing markets across the country, said Erie County Clerk Kathy Hochul. (Sat, 26 Jul 2008 16:55:36 GMT)

Home loans double for entry buyers
THE mortgage debt of first-home buyers has more than doubled in the past decade. The snapshot of social trends paints a stark picture of the growing pressures facing hundreds of thousands of people who have recently taken out their first home loan. (Sat, 26 Jul 2008 17:00:51 GMT)

Emergency mortgage rescue plan approved
The US Congress has approved a massive housing market rescue bill, offering emergency financing to Fannie Mae and Freddie Mac, creating a new regulator for the mortgage titans and setting up a $300 billion fund to help troubled homeowners. (Sat, 26 Jul 2008 17:40:00 GMT)

Emergency mortgage rescue plan approved
The US has approved a bill, creating a new regulator for mortgage titans and setting up a $300 billion fund to help troubled homeowners. (Sat, 26 Jul 2008 17:40:00 GMT)

Mortgage firms' bailout plan approved
The US has approved a bill, creating a new regulator for mortgage titans, and set up a fund to help troubled homeowners. (Sat, 26 Jul 2008 17:40:00 GMT)

Emergency mortgage rescue plan approved
The US Congress has approved a massive housing market rescue bill, offering emergency financing to Fannie Mae and Freddie Mac, creating a new regulator for the mortgage titans and setting up a $US300 billion ($314 billion) fund to help troubled homeowners. (Sat, 26 Jul 2008 17:40:00 GMT)

US Senate approves sweeping housing bill
The US Senate on Saturday approved an elaborate housing rescue plan designed to help thousands of homeowners avert foreclosure and bolster mortgage finance giants that have struggled amid a volatile housing market. (Sat, 26 Jul 2008 18:49:53 GMT)

Congress Passes Mortgage Bailout
FORT WAYNE, IN (Indiana's NewsCenter)-- Congress has passed a housing rescue bill aimed at sparing 400,000 struggling homeowners from foreclosure. President Bush is expected to sign the measure quickly. (Sat, 26 Jul 2008 19:28:58 GMT)

Homeowner rescue awaits President Bush's signature
Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Sat, 26 Jul 2008 19:40:11 GMT)

Mortgage rate cuts signal improving conditions
Northern Rock , HBOS and Royal Bank of Scotland on Friday became the latest lenders to cut mortgage rates, in a further sign that the market is improving for borrowers. (Sat, 26 Jul 2008 22:17:01 GMT)

Despite reservations, Bush ready to sign mortgage relief for 400,000 strapped homeowners
WASHINGTON (AP) _ Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Sat, 26 Jul 2008 23:17:10 GMT)

julian Knight: Mortgage sharks and home loan hustlers
Against a backdrop of the credit crunch and tumbling house prices, a harsh light is being shone on goings-on in the world of mortgage advice. Much of it relates back to when the housing market was going gangbusters, and some greedy and unscrupulous mortgage brokers lied and committed fraud in order either to secure loans for themselves or to earn bumper fees. (Sat, 26 Jul 2008 23:18:39 GMT)

Suggest the best loan deals
I do not expect banks to accept such requests. This can be done if your father was a co-borrower on the loan. (Sat, 26 Jul 2008 23:29:37 GMT)

'HRA and home loan provisions are two different issues in income tax'
On the portion of the loan taken from your father, if you pay interest, the same will be deductible u/s 24, however, Sec 80C rebate on principal repayment will not be available. (Sat, 26 Jul 2008 23:30:58 GMT)

Exit-fee loan offer no bargain
BEWARE banks bearing "no exit fee" home loans. Under pressure from the Treasurer, Wayne Swan, to make it easier for customers to switch between banks, National Australia Bank has come up with a cunning plan. (Sat, 26 Jul 2008 23:50:33 GMT)

Congress Passes Bill Giving Homeowners Mortgage Aid
The U.S. Senate passed a housing rescue bill on Saturday aimed at sparing 400,000 struggling homeowners from foreclosure. The bill lets homeowners who cannot afford their monthly mortgage payments refinance into more affordable government-backed loans rather than losing their homes. (Sun, 27 Jul 2008 01:36:54 GMT)

US Senate approves sweeping housing bill
The US Senate on Saturday approved an elaborate housing rescue plan designed to help thousands of homeowners avert foreclosure and bolster mortgage finance giants that have struggled amid a volatile housing market. (Sun, 27 Jul 2008 02:06:20 GMT)

Homeowner rescue awaits President Bush's signature
Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. (Sun, 27 Jul 2008 02:44:21 GMT)

Mortgage bill passes, goes to Bush
WASHINGTON - The Senate approved mortgage relief Saturday for 400,000 struggling homeowners as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Sun, 27 Jul 2008 04:30:34 GMT)

Mortgage relief bill on way to Bush
WASHINGTON — Congress has approved mortgage relief for 400,000 struggling homeowners as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Sun, 27 Jul 2008 05:15:11 GMT)

President Bush says he will sign mortgage-relief bill
By JULIE HIRSCHFELD DAVIS WASHINGTON — Congress approved mortgage relief Saturday for 400,000 struggling homeowners as part of an election-year plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he will sign the legislation, despite reservations. The measure, regarded as the most significant housing legislation in decades, lets homeowners ... (Sun, 27 Jul 2008 05:18:37 GMT)

Home loans double for entry buyers
THE mortgage debt of first-home buyers has more than doubled in the past decade. The snapshot of social trends paints a stark picture of the growing pressures facing hundreds of thousands of people who have recently taken out their first home loan. (Sun, 27 Jul 2008 06:15:37 GMT)

Bank failures unnerve reverse mortgage holders
Bank failures are absolutely more emotional for seniors, especially when mortgage products were built, aimed and sold with them in mind. Ask any mortgage specialist in the reverse mortgage business: Reverse mortgages cannot be explained or promoted like any other forward instrument. (Sun, 27 Jul 2008 07:12:03 GMT)

Senator given a cut-rate deal on Bethany Beach mortgage
On a street of million-dollar homes a block from the ocean in Bethany Beach, the one with the American flag stands out. (Sun, 27 Jul 2008 07:54:29 GMT)

Exit-fee loan offer no bargain
BEWARE banks bearing "no exit fee" home loans. Under pressure from the Treasurer, Wayne Swan, to make it easier for customers to switch between banks, National Australia Bank has come up with a cunning plan. (Sun, 27 Jul 2008 08:18:08 GMT)

Congress sends mortgage bailout to Bush
Congress on Saturday passed a landmark mortgage rescue plan that is expected to help hundreds of thousands of struggling homeowners, but lawmakers remain stalled on how to temper skyrocketing energy prices. (Sun, 27 Jul 2008 08:29:31 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, 27 Jul 2008 08:40:49 GMT)

Congress passes mortgage aid bill
WASHINGTON — It took fears of a market collapse to push President George W. Bush and Congress to compromise on election-year mortgage help for struggling homeowners. Foreclosures are rising and home prices falling. (Sun, 27 Jul 2008 08:55:04 GMT)

Student loan burden grows N.H. college grads carry 2nd highest debt load
Craig Osborne/ Democrat photo Michael Ruby sits with a stack of student loan paperwork at his home in Rochester on Friday. (Sun, 27 Jul 2008 10:07:26 GMT)

Student loan burden grows: N.H. college grads carry 2nd highest debt load
Craig Osborne/ Democrat photo Michael Ruby sits with a stack of student loan paperwork at his home in Rochester on Friday. (Sun, 27 Jul 2008 10:19:36 GMT)

Choosing the right mortgage depends on buyer's situation
Dear Rick: I'm in the process of buying a new home. What is the best mortgage to get right now? (Sun, 27 Jul 2008 10:55:38 GMT)

Despite reservations, Bush ready to sign mortgage relief for 400,000 strapped homeowners
WASHINGTON - Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Sun, 27 Jul 2008 11:16:40 GMT)

Despite reservations, Bush ready to sign mortgage relief for 400,000 strapped homeowners
WASHINGTON - Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Sun, 27 Jul 2008 11:17:27 GMT)

Watt: Rescue better than foreclosures
Rep. Mel Watt, a Charlotte Democrat, sat down with the Observer recently to discuss the mortgage crisis and legislation aimed at helping borrowers and lenders. The bill authorizes the Federal Housing Administration to refinance troubled mortgages held by participating lenders, gives communities money to purchase foreclosed properties, offers first-time homebuyers a tax credit, and helps prop up ... (Sun, 27 Jul 2008 12:07:22 GMT)

Mortgage Rescue Plan OK'd
WASHINGTON | Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. (Sun, 27 Jul 2008 12:14:44 GMT)

State division issues mortgage guidelines
The Nevada Division of Mortgage Lending put guidelines into effect July 1 for state-licensed mortgage brokers and mortgage bankers regarding the risks associated with nontraditional mortgage products. (Sun, 27 Jul 2008 13:17:53 GMT)

BankWest cuts brokers out of loan loop
BANKWEST has pulled its discounted Rate Tracker home loan from the broker market, amid continued pressure on the banking industry's wholesale funding costs. (Sun, 27 Jul 2008 14:00:00 GMT)

Home loans double for entry buyers
THE mortgage debt of first-home buyers has more than doubled in the past decade. The snapshot of social trends paints a stark picture of the growing pressures facing hundreds of thousands of people who have recently taken out their first home loan. (Sun, 27 Jul 2008 15:48:04 GMT)

Senate OKs bill providing mortgage assistance / Bush pledges to sign legislation to help Fannie, Freddie
Congress completed work Saturday on the government's most sweeping response yet to the nation's housing crisis, sending to President Bush a bill designed to help homeowners avoid foreclosure, spur home buying and prop up struggling mortgage giants Fannie Mae... (Sun, 27 Jul 2008 16:46:18 GMT)

How To Get The Perfect Mortgage Loan For Your Aventura Home Acquisition
If you are having problems settling your financial resources in acquiring a home in Aventura real estate, then there are only two options left for you to take: postpone the project and save some more or you can apply for a mortgage loan to fund your purchase. (Sun, 27 Jul 2008 17:24:24 GMT)

Signs of life in the mortgage-backed securities market
Mortgage-backed securities have gained a toxic reputation among investors as a result of the credit crisis kicked off by the problems with the subprime mortgage market. (Sun, 27 Jul 2008 18:50:45 GMT)

Floating home loans pick up amid fluctuating interest
Fixed home loans are passé. Today, more and more home loan borrowers opt for floating home loan and their percentage has increased over the past few years. (Sun, 27 Jul 2008 21:45:38 GMT)

Australian Mortgage Bond Sales to Recover Next 12 to 18 Months
July 28 (Bloomberg) -- Australia's slumping mortgage-backed bond market will recover over the next 12 to 18 months as sellers of securities customize deals to attract investors, according to Macquarie Group Ltd. (Mon, 28 Jul 2008 00:03:55 GMT)

Architect of intown mortgage fraud cites 'lofty visions'
Mortgage lender Harry Forster hoisted his teenage son so he could peer in the one window that wasn't boarded up. "I don't see anything, Dad," the son said. In disbelief, Forster, founder of the now-defunct Perimeter Mortgage Funding, had his son lift him up so he could see for himself what it looked like inside the intown Atlanta house. (Mon, 28 Jul 2008 01:34:56 GMT)

Mortgage Choice rejects merger
FINANCIAL planning group Count Financial revealed it had approached Mortgage Choice with a merger proposal, but its advances were rejected by the mortgage broker. (Mon, 28 Jul 2008 02:37:00 GMT)

Mortgage Choice rejects Count merger
Financial planning group Count Financial has revealed it approached Mortgage Choice with a merger proposal, but its advances were rejected by the mortgage broker. (Mon, 28 Jul 2008 03:02:52 GMT)

Fraud, Greed and Special Interests in the Mortgage Crisis Cost Everybody
A housing rescue bill is on its way to the President for signature, though it probably does most good for the enablers of the crisis. If you think the factors that enabled the mortgage crisis have been fixed, think again. An example of this might be the Tennessee minister (Reverend Steve Young)-- awaiting sentencing after pleading guilty to mail and wire fraud to commit mortgage fraud -- who ... (Mon, 28 Jul 2008 03:38:51 GMT)

US home owners cut back refinancing
The rise in US mortgage rates has prompted a sharp decline in the number of refinancings according to data released yesterday by the Mortgage Bankers Association. (Mon, 28 Jul 2008 03:49:09 GMT)

Mortgage relief bill OK'd by Congress
WASHINGTON (AP) -- Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations. (Mon, 28 Jul 2008 03:52:39 GMT)

Del Monte Foods prepares for refinancing
Del Monte Foods Co. is taking a sharper pencil to its operations by conserving cash, consolidating marketing and revamping operations. (Mon, 28 Jul 2008 04:05:24 GMT)

Break-ups increase mortgage stress
NEW research linking divorce with mortgage stress and the home affordability crisis comes as consumer advocates warn of loan sharks targeting divorcees. (Mon, 28 Jul 2008 04:10:50 GMT)

Builders help ease home buyers' EMI pains
For such bonanzas, prospective home buyers have a downturn to thank. Property sales have fallen 15 to 20 per cent countrywide over the last six months, owing to rising home loan rates. This has pinched the cash flows of developers, already reeling under higher borrowing costs and a range of anti-inflationary measures that restrict their flexibility to raise funds. (Mon, 28 Jul 2008 04:32:58 GMT)

Foreclosure pain spreads
Some people call mortgage foreclosure a silent crisis. One that starts with unpaid bills and escalates to a sale on the courthouse steps. One that leaves behind an empty house, and a family without a home. (Mon, 28 Jul 2008 04:51:55 GMT)

Madrid looks at boosting mortgage securities
The Spanish government is studying ways to make mortgage-backed securities more attractive to foreign investors by offering additional guarantees, according to Francisco González, chairman of BBVA , Spain’s second largest bank. (Mon, 28 Jul 2008 06:53:18 GMT)

Bank failures unnerve reverse mortgage holders
Bank failures are absolutely more emotional for seniors, especially when mortgage products were built, aimed and sold with them in mind. Ask any mortgage specialist in the reverse mortgage business: Reverse mortgages cannot be explained or promoted like any other forward instrument. (Mon, 28 Jul 2008 07:06:57 GMT)

State mortgage regulator no fighter for ban on ex-cons
Under fire for allowing bank robbers and racketeers to sell home loans in Florida, the state's chief mortgage industry regulator said he fought to ban ex-convicts from the business during the 2008 legislative session. (Mon, 28 Jul 2008 07:08:25 GMT)

How the housing rescue bill can help you
The Senate on Saturday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac. (Mon, 28 Jul 2008 07:59:00 GMT)

Fast facts on mortgage insurance
FAST FACTS ON MORTGAGE INSURANCE What is mortgage insurance? Insurance to cover some of a mortgage lender's losses in case a borrower stops paying his or her mortgage. (Mon, 28 Jul 2008 08:50:51 GMT)

Crosby report on mortgage market due Tuesday
An interim report by former HBOS chief executive Sir James Crosby on ways to revive Britain's mortgage markets will be published on Tuesday, the Treasury said on Monday. (Mon, 28 Jul 2008 09:24:00 GMT)

Top Ten Tips for Financing a Home
(ARA) - Warmer weather and the conclusion of another school year are two signs that summer is almost here. While many Americans get ready for summer travel, barbeques, and other rites of the season, thousands will be taking advantage of a buyer's market by looking for a new place to call home. (Mon, 28 Jul 2008 10:28:08 GMT)

Exit-fee loan offer no bargain
BEWARE banks bearing "no exit fee" home loans. Under pressure from the Treasurer, Wayne Swan, to make it easier for customers to switch between banks, National Australia Bank has come up with a cunning plan. (Mon, 28 Jul 2008 10:59:50 GMT)

Indiana mortgage brokers could lose licenses :Home buyers could be affected after deadline as some businesses may be ...
INDIANAPOLIS -- Indiana's secretary of state warned mortgage brokers earlier this month that they would lose their licenses if they didn't pass a state-required test by Aug. 5th. (Mon, 28 Jul 2008 11:06:24 GMT)

Mortgage insurers tightening rules
Prices of some homes may be falling, but one piece of the mortgage transaction is getting more expensive, not to mention impossible for some buyers to obtain: mortgage insurance. Search local home sales prices (Mon, 28 Jul 2008 11:40:20 GMT)

Loan rates may go up again
Floating rate home loan borrowers may have to brace up for another round of hike in their interest commitments. (Mon, 28 Jul 2008 14:35:26 GMT)

Home loans double for entry buyers
THE mortgage debt of first-home buyers has more than doubled in the past decade. The snapshot of social trends paints a stark picture of the growing pressures facing hundreds of thousands of people who have recently taken out their first home loan. (Mon, 28 Jul 2008 15:02:52 GMT)

(AFX UK Focus) 2008-07-28 16:43 UPDATE 1-Russia cuts exposure to Freddie, Fannie-c.bank
MOSCOW July 28 (Reuters) - Russia has cut its exposure to U.S. mortgage lenders Fannie Mae and Freddie Mac to less than $50 billion by not refinancing matured short-term debt, a senior central bank official told Reuters on Monday. (Mon, 28 Jul 2008 16:08:28 GMT)

Treasury to Hold Mortgage Finance Press Conference
Secretary Henry M. Paulson, Jr. will hold a press conference on mortgage finance today at the Treasury Department. The Secretary will join financial regulators and future covered bond issuers to announce a guide for the development of a covered bond market in the United States. (Mon, 28 Jul 2008 16:59:20 GMT)

Nixon Goes After Mortgage Fraud
(Jefferson City, MO) Attorney General Jay Nixon is taking legal action to stop people who prey on Missouri homeowners left vulnerable to mortgage fraud because they are facing foreclosure or other financial difficulties. (Mon, 28 Jul 2008 17:24:29 GMT)

Dolan subsidiary to buy mortgage default company
Dolan Media Co., which specializes in legal and professional publications, said Monday its American Processing Company LLC subsidiary agreed to buy National Default Exchange, a mortgage default processing services company. (Mon, 28 Jul 2008 18:01:02 GMT)

Treasury Releases Best Practices to Encourage Additional Form of Mortgage Finance
- The U.S. Treasury Department took steps today to encourage additional sources of mortgage finance and strengthen financial institutions by issuing Best Practices for Residential Covered Bonds. (Mon, 28 Jul 2008 18:41:18 GMT)

Paulson: New way to help mortgage market
The Bush administration and federal banking regulators have joined with the nation's four largest banks to endorse a new way to pump money into the battered U.S. mortgage market. (Mon, 28 Jul 2008 18:46:02 GMT)

Administration OKs new way to help mortgage market
The Bush administration and federal banking regulators joined with the nation's four largest banks Monday to endorse a new way to pump money into the battered U.S. mortgage market. Treasury Secretary Henry Paulson unveiled a set of best practices designed to... (Mon, 28 Jul 2008 19:05:40 GMT)

US presses plan with banks to offer new mortgage bonds
The Treasury and major US banks endorsed plans Monday to help pump additional liquidity into the strained housing market by issuing "covered bonds," or flexible mortgage-backed securities. (Mon, 28 Jul 2008 19:15:33 GMT)

Administration OKs New Way to Help Mortgage Market
WASHINGTON -- The Bush administration and federal banking regulators joined with the nation's four largest banks Monday to endorse a new way to pump money into the battered U.S. mortgage market. (Mon, 28 Jul 2008 19:18:59 GMT)

‘Extreme Makeover’ house faces foreclosure
After the Harper family used the two-story home as collateral for a $450,000 loan, it’s set to go to auction on the steps of the Clayton County Courthouse Aug. 5. (Mon, 28 Jul 2008 19:21:38 GMT)

US Attorney's Office Holds 4 In East Bay Mortgage Loan Scam
Four owners of residential care homes were arrested Monday after being indicted on charges stemming from an alleged far-reaching mortgage loan fraud scheme, the U.S. Attorney's office announced. (Mon, 28 Jul 2008 19:24:13 GMT)

Administration OKs new way to help mortgage market
WASHINGTON -- The Bush administration and federal banking regulators joined with the nation's four largest banks today to endorse a new way to pump money into the battered U.S. mortgage market. (Mon, 28 Jul 2008 19:30:26 GMT)

US presses plan with banks to offer new mortgage bonds
US Treasury Secretary Henry Paulson is seen here in June 2008. The Treasury and four large US banks endorsed plans Monday for "covered bonds," flexible mortgage-backed securities to help pump additional liquidity into the strained housing market. (Mon, 28 Jul 2008 19:30:57 GMT)

Missouri AG sues firms, alleging mortgage fraud
Missouri Attorney General Jay Nixon filed seven lawsuits targeting what he describes as mortgage fraud. The attorney general's office said the lawsuits are aimed at individuals and businesses that defrauded consumers through refinancings, advanced fees and foreclosure consulting scams. (Mon, 28 Jul 2008 19:42:21 GMT)

Haitian strongman convicted of mortgage fraud in U.S.
A man once convicted of heading up a ruthless Haitian death squad that is blamed for raping and killing political rivals has been convicted of carrying out a mortgage fraud scheme in the United States. (Mon, 28 Jul 2008 19:42:51 GMT)

Mortgage "Rescue Bill" Passed: Will It Save Foreclosures?
This week the President is expected to sign a bill that will help hundreds of thousands of homeowners who are close to losing their homes to foreclosure.  The $300 billion "bail-out" bill passed the Senate over the weekend. (Mon, 28 Jul 2008 19:52:32 GMT)

Missouri AG sues firms, alleging mortgage fraud
(AP:JEFFERSON CITY, Mo.) Missouri Attorney General Jay Nixon filed seven lawsuits targeting what he describes as mortgage fraud. (Mon, 28 Jul 2008 20:03:36 GMT)

'Extreme Makeover' Home Facing Foreclosure
More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005. (Mon, 28 Jul 2008 20:15:39 GMT)

Weekly Mortgage Columns
Find a new home. Rent an apartment or house in New York, Florida & beyond. Access community profiles, property e-mail alerts & open houses. (Mon, 28 Jul 2008 20:28:10 GMT)

New home loan schemes from Commercialbank
COMMERCIALBANK, the country’s second largest lender, has launched two new home loan products – equity release and 18 areas expat mortgage. (Mon, 28 Jul 2008 21:06:22 GMT)

Paulson unveils new source of mortgage financing
U.S. Treasury Secretary Henry Paulson today announced measures designed to help the development of a covered bond market in the United States to provide a new source of mortgage financing. (Mon, 28 Jul 2008 21:12:17 GMT)

Mortgage relief plan should eventually boost banks
Congress' plan to allow people to refinance into more affordable mortgages won't just relieve thousands of homeowners _ it's also expected to save the banks who issued the loans billions of dollars. Most banks will end up losing much less money handing... (Mon, 28 Jul 2008 21:20:29 GMT)

Administration OKs new way to help mortgage market
The Bush administration and federal banking regulators joined with the nation's four largest banks Monday to endorse a new way to pump money into the battered U.S. mortgage market. (Mon, 28 Jul 2008 21:20:48 GMT)

Mortgage relief plan should eventually boost banks
Congress' plan to allow people to refinance into more affordable mortgages won't just relieve thousands of homeowners — it's also expected to save the banks who issued the loans billions of dollars. (Mon, 28 Jul 2008 21:36:11 GMT)

Russia Cuts Fannie, Freddie Exposure
29 July 2008 The country has cut its exposure to U.S. mortgage lenders Fannie Mae and Freddie Mac to less than $50 billion by not refinancing matured short-term debt, a senior Central Bank official said Monday. (Mon, 28 Jul 2008 22:02:04 GMT)

Merrill to take $5.7 billion mortgage asset write-down
Merrill Lynch & Co Inc said it expects to take a $5.7 billion pretax write-down in the third quarter due to losses on the sale of mortgage assets and plans to raise at least $8.5 billion by selling new common shares. (Mon, 28 Jul 2008 22:09:01 GMT)

Mortgage relief plan may aid banks
n Losses will be less in government plan than if loans were to default (Mon, 28 Jul 2008 23:05:16 GMT)

Four indicted in $20 million mortgage scheme
Two real estate agents and a married couple who ran nursing homes are facing federal charges alleging the four defrauded several banks of $20 million dollars in a complicated mortgage scheme. The four face 126 counts of conspiracy, bank fraud, wire fraud,... (Tue, 29 Jul 2008 01:01:30 GMT)

Loss-hit Merrill dumps mortgage debt, raises new capital
Wall Street titan Merrill Lynch announced it was dumping billions of dollars of mortgage debt at a steep loss and raising 8.5 billion in new capital, as the US housing crisis continued to devastate the country's banking sector. (Tue, 29 Jul 2008 02:30:17 GMT)

Nixon sues Missouri companies, alleging mortgage fraud
Missouri Attorney General Jay Nixon on Monday filed a series of lawsuits targeting alleged mortgage fraud across the state, including one in Jackson County against Saxon Mortgage Services Inc. (Tue, 29 Jul 2008 03:22:33 GMT)

Saylor joins Home Loan Financial Services
Arthur J. Saylor has joined Home Loan Financial Services Inc. at Coshocton as an investment representative. (Tue, 29 Jul 2008 03:50:25 GMT)

Paulson, banks urge new market for mortgage loans
The Bush administration and federal banking regulators joined with the nation's four largest banks Monday to endorse a new way to pump money into the battered U.S. mortgage market. (Tue, 29 Jul 2008 03:51:41 GMT)

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