Mortgage News Jul 2008

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State Mortgage Regulator's Job On Line
Florida's top mortgage regulator will likely get at least a temporary reprieve today from calls for his ouster over revelations that his office licensed thousands of mortgage brokers with criminal backgrounds. (Tue, 29 Jul 2008 04:06:51 GMT)

Mortgage rescue will also aid 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 mortgages over to the government than they would if the loans defaulted and the homes went into foreclosure. Plus, it will be up to the bank to ... (Tue, 29 Jul 2008 04:09:05 GMT)

Nixon mortgage probe includes Buchanan County firm
JEFFERSON CITY, Mo. — Missouri’s attorney general is taking legal action against individuals and consumers that he accuses of mortgage fraud. Attorney General Jay Nixon launched Operation Stealing Home, filing seven lawsuits around the state Monday, including one in Buchanan County. (Tue, 29 Jul 2008 05:04:12 GMT)

Mortgage plan to benefit banks
NEW YORK -- Congress' plan to allow people to refinance into more affordable mortgages won't just relieve thousands of homeowners -- it also is expected to save the banks who issued the loans billions of dollars. Most banks will end up losing much less money handing mortgages over to the government than they would if the loans defaulted and the homes went into foreclosure. Plus, it will be up to ... (Tue, 29 Jul 2008 06:11:39 GMT)

UK mulls mortgage market options
The government may have to guarantee billions of pounds of mortgage bonds in order to revive the market, a report says. (Tue, 29 Jul 2008 06:56:35 GMT)

UK mulls mortgage market options
The government may have to guarantee billions of pounds of mortgage bonds in order to revive the market, a report says. (Tue, 29 Jul 2008 07:01:16 GMT)

Mo. AG sues alleging mortgage fraud
JEFFERSON CITY, Mo. — Attorney General Jay Nixon has filed seven lawsuits targeting what he describes as mortgage fraud. (Tue, 29 Jul 2008 07:11:29 GMT)

2 agents guilty in mortgage fraud case
A Denver jury has convicted a pair of real-estate agents of falsifying documents to qualify borrowers who couldn't otherwise get a mortgage. (Tue, 29 Jul 2008 07:13:31 GMT)

Auction brings in enough to save Everett woman's home
EVERETT -- An Everett seamstress likely will get to keep her home after her friends threw an auction to stave off foreclosure. Cindy Windecker, 51, now plans to refinance an adjustable-rate mortgage on her two-bedroom house to a traditional fixed-rate loan. (Tue, 29 Jul 2008 07:14:32 GMT)

Mortgage relief plan is expected to help banks, too
NEW YORK — 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 billions of dollars of loans. (Tue, 29 Jul 2008 07:22:16 GMT)

Mortgage bill a win for banks
Congress' plan to allow people to refinance into more affordable mortgages won't just relieve thousands of homeowners — it's also... (Tue, 29 Jul 2008 07:24:09 GMT)

Mortgage relief plan can save banks billions / Bush expected to sign bill on refinancing
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 that issued the loans billions of dollars. Most banks will end up losing much less money handing... (Tue, 29 Jul 2008 07:36:51 GMT)

Mortgage loans reach 'record low'
New mortgage approvals in June hit their lowest level since current records started, the Bank of England says. (Tue, 29 Jul 2008 08:56:35 GMT)

Strong medicine looms for mortgage giants
Barney Frank puts mortgage industry on notice: Passage of the housing bill doesn’t get it off the hook. (Tue, 29 Jul 2008 08:56:40 GMT)

Q: For a remodeling project, should we take out a straight home equity loan or a line of credit?
A: If you expect to make several payments to different contractors, consider a line of credit that typically comes with check writing. Each time you write a check you borrow more. (Tue, 29 Jul 2008 09:00:34 GMT)

Mortgage relief plan should 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 (Tue, 29 Jul 2008 10:36:40 GMT)

U.K. Mortgage Approvals Decline to Lowest Since 1999 (Update2)
July 29 (Bloomberg) -- U.K. mortgage approvals fell to the lowest since at least 1999 in June as financial institutions curbed lending, deepening the housing slump. (Tue, 29 Jul 2008 10:43:24 GMT)

Drop in Home Prices in Major U.S. Cities Probably Accelerated
July 29 (Bloomberg) -- Home prices in 20 U.S. metropolitan areas probably fell at a faster pace in May, indicating the three-year housing slump hasn't stabilized, a private survey today may show. (Tue, 29 Jul 2008 11:24:03 GMT)

Attorney general calls for probe in mortgage case
Saying he's outraged that thousands of people with criminal histories were allowed to peddle home loans in Florida, Attorney General Bill McCollum called for an investigation into the state agency overseeing the mortgage industry. (Tue, 29 Jul 2008 12:07:44 GMT)

Police arrest suspected loan shark for assault
A loan shark was arrested Monday and charged with beating up a client in a Hicksville parking lot, Nassau police said. (Tue, 29 Jul 2008 12:08:57 GMT)

Missouri Attorney General Goes After Mortgage Fraud, Operation Stealing Home
Operation Stealing Home targets individuals and businesses Nixon said had defrauded consumers through refinancing, advance fee and foreclosure consulting scams. (Tue, 29 Jul 2008 12:49:20 GMT)

New Best-selling E-Book Reveals the Dirtiest Secrets in the Mortgage Industry
The implosion of the mortgage industry, plummeting real estate prices and the ensuing economic downturn have all combined to make it perhaps the best buyer's market -- ever! So -- why are most consumers still being taken to the cleaners when buying a home or refinancing their mortgage? (Tue, 29 Jul 2008 13:00:00 GMT)

ANZ tips more loan defaults
ANZ chief Mike Smith says loan defaults among home borrowers will rise as the Australian job market comes under pressure from an economic downturn. (Tue, 29 Jul 2008 14:00:00 GMT)

Tips For Homeowners On Understanding Sweeping Mortgage Bill
The most sweeping mortgage relief legislation since the Great Depression is expected to be signed by President Bush now that it has been passed by Congress. The centerpiece of the housing package — HOPE for Homeowners — could provide as much as $300 billion in government-backed refinanced mortgages. (Tue, 29 Jul 2008 14:43:41 GMT)

U.K. Mortgage Rescue Would Create `Risks,' Crosby Tells Darling
July 29 (Bloomberg) -- The British government may take on a financial burden and encourage banks to resume risky lending if it guarantees mortgage-backed securities, a report for Chancellor of the Exchequer Alistair Darling showed. (Tue, 29 Jul 2008 14:43:51 GMT)

U.K. Mortgage Rescue Would Create `Risks,' Crosby Tells Darling
July 29 (Bloomberg) -- The British government may take on a financial burden and encourage banks to resume risky lending if it guarantees mortgage-backed securities, a report for Chancellor of the Exchequer Alistair Darling showed. (Tue, 29 Jul 2008 14:51:48 GMT)

Paulson unveils new source of mortgage financing
U.S. Treasury Secretary Henry Paulson has announced measures designed to help the development of a covered bond market in the United States to provide a new source of mortgage financing. (Tue, 29 Jul 2008 14:56:56 GMT)

'Extreme Makeover' Home in Foreclosure
Family reportedly used their new house as collateral for a loan. (Tue, 29 Jul 2008 16:01:46 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. (Tue, 29 Jul 2008 17:33:38 GMT)

Cyrela, Gafisa Advance as Mortgage Growth Accelerates (Update1)
July 29 (Bloomberg) -- Cyrela Brazil Realty SA Empreendimentos e Participacoes and Gafisa SA advanced the most in the Bovespa index after Brazil's central bank said growth in mortgage lending accelerated last month. (Tue, 29 Jul 2008 18:09:10 GMT)

Home, consumer loan EMIs set to rise again
The measures will squeeze liquidity and push interest rates upwards, thus dampening the growth momentum. (Tue, 29 Jul 2008 18:45:04 GMT)

Auction brings in enough to save Everett woman's home
EVERETT -- An Everett seamstress likely will get to keep her home after her friends threw an auction to stave off foreclosure. Cindy Windecker, 51, now plans to refinance an adjustable-rate mortgage on her two-bedroom house to a traditional fixed-rate loan. (Tue, 29 Jul 2008 18:53:04 GMT)

Home, consumer loan EMIs set to rise again 30 Jul 2008, 0002 hrs IST,TNN
NEW DELHI: With inflation remaining at double-digit levels for six weeks running, RBI decided on Tuesday to further tighten its monetary policy. (Tue, 29 Jul 2008 18:55:36 GMT)

Retail loan rates come a full circle
1998: HDFC’s fixed home loan (the concept of floating rate was introduced in 1999) rates were 13-17 per cent for houses costing less than Rs 10 lakh. Above that, the rates were over 18 per cent. ICICI, India’s largest private sector bank, started its retail home loan operations in 1999. (Tue, 29 Jul 2008 19:41:50 GMT)

Man to serve 8 years, repay $6.5M for mortgage fraud
Intown property developer Kevin Wiggins will serve eight years in prison related to a large-scale mortgage fraud in a historical southwest Atlanta neighborhood, a judge ruled Tuesday. Wiggins also will have to repay $6.5 million to 12 financial companies, including Fannie Mae and Freddie Mac. U.S. District Court Judge Jack Camp said he hoped the sentence would deter others from gaming the ... (Tue, 29 Jul 2008 19:49:46 GMT)

Obama focuses on mortgage crisis
Barack Obama and Treasury Secretary Henry Paulson discussed the mortgage crisis Tuesday. (Tue, 29 Jul 2008 20:04:34 GMT)

Georgia man sentenced in mortgage fraud scheme
A Georgia man who headed a multimillion-dollar mortgage fraud by getting inflated loans for dilapidated homes he claimed to be renovated and rented was sentenced Tuesday to eight years and four months in federal prison. (Tue, 29 Jul 2008 20:05:50 GMT)

RBI stunner to tell on home loans
Mumbai, July 29: Get set to contribute to the inflation war effort. Home loan borrowers will soon have to pay more by way of equated monthly instalments (EMIs) with the RBI announcing an unexpected increase in a key rate as part of its drive to rein in inflation. (Tue, 29 Jul 2008 21:34:52 GMT)

Home loan rates, delinquencies may rise
Even as most of the bankers have indicated a possible hike in their lending rates in the near future, out of compulsion, they will apprehend a rise in delinquencies in their home loan portfolios if the rates are made to spiral over the current levels. (Tue, 29 Jul 2008 22:08:50 GMT)

Sir James Crosby's report predicts mortgage market paralysis for three years
The seizure in Britain's mortgage market will persist for at least three more years, Sir James Crosby, the former chairman of HBOS, said yesterday. (Tue, 29 Jul 2008 22:19:05 GMT)

Fla. lawmakers order mortgage investigation
Gov. Charlie Crist and the state's three Cabinet officers agreed Tuesday to investigate reports that Florida has allowed thousands of criminals to work in the mortgage business. (Tue, 29 Jul 2008 22:23:13 GMT)

New Zealand's Guardian Mortgage Fund Suspends Withdrawals
July 30 (Bloomberg) -- Guardian Mortgage Fund, which lends to New Zealand property owners, is suspending investment and withdrawals, affecting about NZ$249 million ($184 million) of funds. (Tue, 29 Jul 2008 23:49:05 GMT)

Genworth Has Loss on Mortgage Insurance, Investments (Update1)
July 29 (Bloomberg) -- Genworth Financial Inc. , the insurer whose market value has been halved in the past year, had its first quarterly loss since going public in 2004, driven by the U.S. mortgage-insurance unit and housing-related investments. (Wed, 30 Jul 2008 01:36:02 GMT)

US bans short-selling of mortgage finance companies
WASHINGTON - Federal regulators on Tuesday extended through mid-August a temporary order banning a certain kind of short-selling of the stocks of mortgage finance companies Fannie Mae, Freddie Mac and 17 large investment banks. (Wed, 30 Jul 2008 03:11:21 GMT)

Q&A: Mortgage rescue bill
The Hope for Homeowners Act of 2008 was passed by Congress last weekend to try to steer as many as 400,000 struggling homeowners away from foreclosure: Q: What exactly will the legislation do? A: It will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home's current value. The FHA will insure a total of $300 ... (Wed, 30 Jul 2008 03:20:02 GMT)

Help is on the way as mortgage plan nears enactment
Help is on the way for some debt-plagued homeowners. It just may not be fast enough or broad enough to keep many from losing their residences. The mortgage relief plan that President Bush is poised to sign is designed to rescue about 400,000 homeowners by allowing them to get more affordable mortgages backed by the Federal Housing Administration. But consumer advocates and some economists think ... (Wed, 30 Jul 2008 03:21:04 GMT)

Who qualifies for mortgage help and how to get it
Q: What exactly will the legislation do? A: It will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home's current value. The FHA will insure a total of $300 billion of the loans over a three-year period. (Wed, 30 Jul 2008 03:28:19 GMT)

Go for a floating-rate home loan
Advantage of a floating rate scheme — where rates move in line with the bank’s benchmark PLR— is that the borrower will benefit when the interest rate cycle turns. (Wed, 30 Jul 2008 03:50:55 GMT)

GE exits Canadian mortgage business
The global credit crisis has claimed another victim in the Canadian mortgage industry as General Electric Co. winds up its mortgage operations here. After three years in the business, GE Money Canada said it will stop taking new mortgage applications on Thursday. (Wed, 30 Jul 2008 03:56:26 GMT)

Federal mortgage help too late for many Housing relief plan ready to be signed by Bush
For 162 property owners, any mortgage relief is coming too late. Their homes or land in Hall County are in foreclosure and due to be sold at public auction in front of the courthouse Tuesday. (Wed, 30 Jul 2008 04:11:47 GMT)

Cracking down on mortgage scammers
While Congress and the Bush administration are focusing on bailing out struggling homeowners and financial companies, another group of federal officials are going after the people who helped propel the country into the mortgage crisis. (Wed, 30 Jul 2008 07:50:29 GMT)

Ahead of the Bell: Mortgage applications
Industry data to be released Wednesday will show whether home loan applications continued to fall as mortgage rates soared. (Wed, 30 Jul 2008 10:06:59 GMT)

Auction brings in enough to save Everett woman's home
EVERETT -- An Everett seamstress likely will get to keep her home after her friends threw an auction to stave off foreclosure. Cindy Windecker, 51, now plans to refinance an adjustable-rate mortgage on her two-bedroom house to a traditional fixed-rate loan. (Wed, 30 Jul 2008 10:39:59 GMT)

Mortgage applications slowest since 2000: MBA
Applications for U.S. home mortgages dropped to their slowest pace since December 2000 as loan rates hovering near one-year highs compounded the housing market's woes, according to data from an industry group on Wednesday. (Wed, 30 Jul 2008 11:04:28 GMT)

U.S. mortgage applications fall to 2000 levels
Loan rates hovering near one-year highs compounded the housing market's woes. (Wed, 30 Jul 2008 11:17:51 GMT)

Lower fixed rates fail to draw more mortgage applicants: MBA
Applications filed for mortgages fall a seasonally adjusted 14.1% last week compared to the prior week, as applicants shrug off lower interest rates on fixed-rate loans, the Mortgage Bankers Association says. (Wed, 30 Jul 2008 11:18:07 GMT)

Mortgage application volume hits 2008 low
Mortgage application volume tumbled 14.1 percent during the week ending July 25, hitting its lowest level of the year, according to the Mortgage Bankers Association's weekly application survey. (Wed, 30 Jul 2008 11:19:34 GMT)

Bush quietly signs housing bill to give mortgage relief
WASHINGTON — President Bush today signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. (Wed, 30 Jul 2008 11:40:28 GMT)

Bush signs housing bill to provide mortgage relief
Associated Press - July 30, 2008 7:33 AM ET WASHINGTON (AP) - President Bush has signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and... (Wed, 30 Jul 2008 11:47:15 GMT)

Mortgage application volume hits 2008 low
Mortgage application volume tumbled 14.1 percent during the week ending July 25, hitting its lowest level of the year, according to the Mortgage Bankers Association's weekly application survey. Volume fell even though interest rates on fixed-rate mortgages... (Wed, 30 Jul 2008 11:51:13 GMT)

Bush signs housing bill to provide mortgage relief
President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. Bush signed the bill without any fanfare or signing ceremony, affixing his signature to the... (Wed, 30 Jul 2008 11:51:25 GMT)

Mortgage application volume hits 2008 low
NEW YORK -- Mortgage application volume tumbled 14.1 percent during the week ending July 25, hitting its lowest level of the year, according to the Mortgage Bankers Association's weekly application survey. (Wed, 30 Jul 2008 11:52:43 GMT)

Bush signs housing bill to provide mortgage relief
President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. (Wed, 30 Jul 2008 11:54:12 GMT)

Bush Signs Housing Bill to Provide Mortgage Relief
President Bush has signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. (Wed, 30 Jul 2008 11:54:52 GMT)

Bush signs housing bill to provide mortgage relief
President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes. (Wed, 30 Jul 2008 12:11:08 GMT)

Mortgage applications hit 2008 low
The number of new mortgages applied for fell 14.1%, according to a weekly survey from the Mortgage Bankers Association. (Wed, 30 Jul 2008 12:20:39 GMT)

Mortgage Applications Fall 14 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume declined last week, due in part to a near 23 percent decline in refinancing activity. Purchase activity for the week also ticked down. (Wed, 30 Jul 2008 12:50:25 GMT)

Mortgage applications hit a 2008 low; most rates slip
Mortgage application volume tumbled 14.1% the week ended July 25, hitting its lowest level of the year, according to the Mortgage Bankers Association's weekly application survey. (Wed, 30 Jul 2008 12:59:29 GMT)

Mortgage application volume hits 2008 low
Mortgage application volume tumbled 14.1 percent during the week ending July 25, hitting its lowest level of the year, according to the Mortgage Bankers Association's weekly application survey. Volume fell even though interest rates on fixed-rate mortgages retreated from sharp increases a week earlier. Refinance volume plunged 22.9 percent during the week, while purchase application volume ... (Wed, 30 Jul 2008 13:20:59 GMT)

Auction brings in enough to save Everett woman's home
EVERETT -- An Everett seamstress likely will get to keep her home after her friends threw an auction to stave off foreclosure. Cindy Windecker, 51, now plans to refinance an adjustable-rate mortgage on her two-bedroom house to a traditional fixed-rate loan. (Wed, 30 Jul 2008 14:03:57 GMT)

'Extreme Makeover' Home Faces Foreclosure
A family that used a home they got on a TV show to back a business loan needs to sell the mini-mansion. (Wed, 30 Jul 2008 15:39:35 GMT)

GE Money gets out of Canadian mortgage business
A finance subsidiary of General Electric Co plans to wind up its Canadian alternative mortgage business this week as part of a wider corporate shift away from consumer finance, according to a note sent to brokers. (Wed, 30 Jul 2008 16:55:07 GMT)

U.S. MBA's Mortgage Applications Index Dropped 14.1% Last Week
July 30 (Bloomberg) -- Mortgage applications in the U.S. decreased 14.1 percent last week, led by a decline in refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan fell to 420.8 in the week ended July 25, the lowest level since December 2000, from 489.6 the prior week. (Wed, 30 Jul 2008 18:30:41 GMT)

General Electric Exits Mortgage Lending in Canada, Globe Says
July 30 (Bloomberg) -- General Electric Co. plans to wind up its mortgage-lending business in Canada as part of a plan to deploy capital elsewhere amid a global credit crunch, the Globe and Mail reported. (Wed, 30 Jul 2008 18:50:36 GMT)

General Electric to Exit Mortgage Lending in Canada, CEO Says
July 30 (Bloomberg) -- General Electric Co. , the second- largest U.S. company by market value, will exit its mortgage business in Canada to focus on faster-growing markets such as Poland and India. (Wed, 30 Jul 2008 18:52:26 GMT)

Bush signs housing bill to provide mortgage relief
President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. (Wed, 30 Jul 2008 19:04:22 GMT)

Hope Now reports record mortgage workouts
A record number of American homeowners are seeking - and getting - help to solve their mortgage woes. (Wed, 30 Jul 2008 19:08:00 GMT)

Mortgage application volume drops to 2008 low
Mortgage application volume tumbled last week to its lowest level of the year, a trade group said Wednesday, as many homeowners found they don't have enough equity to refinance their homes. (Wed, 30 Jul 2008 19:36:29 GMT)

Bush Signs Housing Bill To Provide Mortgage Relief
The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes. (Wed, 30 Jul 2008 19:57:33 GMT)

U.S. mortgage applications plunge in MBA survey
WASHINGTON – The number of mortgage applications filed nationwide plummeted last week to its lowest level this year, the Mortgage Bankers Association said today in its weekly report. (Wed, 30 Jul 2008 20:32:40 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. (Wed, 30 Jul 2008 22:19:53 GMT)

Woman Says Felon Mortgage Broker Scammed Her
Florida's mortgage brokers allegedly committed at least $85 million in fraud. (Wed, 30 Jul 2008 22:23:11 GMT)

Bush signs bill to give mortgage relief to homeowners
WASHINGTON (AP) President Bush has signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes. (Wed, 30 Jul 2008 22:24:45 GMT)

Learn How to Buy a Home
Learn how to buy a home in today's real estate market. We will cover everything from A to Z in the home buying process from getting pre-approved for a home loan to writing an offer and what to expect at closing. (Wed, 30 Jul 2008 22:40:21 GMT)

As Seen On TV: Mortgage 101
Learn more about how to avoid mortgage scams. (Wed, 30 Jul 2008 23:07:58 GMT)

Auction brings in enough to save Everett woman's home
EVERETT -- An Everett seamstress likely will get to keep her home after her friends threw an auction to stave off foreclosure. Cindy Windecker, 51, now plans to refinance an adjustable-rate mortgage on her two-bedroom house to a traditional fixed-rate loan. (Wed, 30 Jul 2008 23:11:01 GMT)

Bank Rakyat to unveil loan for home makeover
KUALA LUMPUR: Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has teamed up with interior design and home makeover consultant Casa Impian Holdings Sdn Bhd to offer its first loan facility offered solely for interior design and renovation work. (Wed, 30 Jul 2008 23:30:45 GMT)

The Limits on Mortgage Relief
If you are hoping for mortgage relief, here's another factor that you and your lender will have to work into your numbers. The effective interest rate on new mortgages made under the law is on track to exceed 8% a year. (Wed, 30 Jul 2008 23:55:30 GMT)

Home loan hurts?
Not so long ago, your dream home was just a loan away. Low interest rates coupled with the ease of availing loans set off a housing boom that was as much a reflection of a prospering middle class as a sign of ‘India shining.’ (Thu, 31 Jul 2008 01:00:34 GMT)

'Extreme Makeover' Home Faces Foreclosure
A family that used a home they got on a TV show to back a business loan needs to sell the mini-mansion. (Thu, 31 Jul 2008 02:20:30 GMT)

LRA pitches home loan program
By ALLEN M. JOHNSON JR. Published: Jul 31, 2008 - Page: 1A - UPDATED: 12:05 a.m. (Thu, 31 Jul 2008 05:24:06 GMT)

Q: Is there a way of finding out if my mortgage can be refinanced under the new housing law?
A: Check with the bank or financial company servicing your mortgage. But it may be weeks before they make decisions concerning the new guidelines and assess individual loans. (Thu, 31 Jul 2008 09:00:45 GMT)

Mizuho's Profit Advances 14% as Bad-Loan Costs Fall (Update3)
July 31 (Bloomberg) -- Mizuho Financial Group Inc. , the Asian bank with the largest subprime-related losses, said first- quarter profit rose 14 percent as income from lending increased and bad-loan costs fell. (Thu, 31 Jul 2008 11:03:12 GMT)

Mortgage growth slowest since 1991
Lending growth in the economy slowed to a five-year low in June, according to the Central Bank. Overall, private-sector credit grew at an annual rate of 14.3%, down from 15.1% in May. But annual growth in residential mortgage lending slowed from 10.9% in May to 10.2%, the lowest since 1991. (Thu, 31 Jul 2008 11:09:23 GMT)

Maine, NH, Mass mortgage company accused of fraud
A mortgage company that does business in New Hampshire, Maine and Massachusetts has been accused of fraud in New Hampshire. (Thu, 31 Jul 2008 11:11:07 GMT)

Mortgage Applications Fall to Lowest of the Year
NEW YORK (AP) -- Here's another sign of trouble in the housing market. A trade group says mortgage applications tumbled last week to the lowest level of the year. (Thu, 31 Jul 2008 11:12:38 GMT)

Mortgage company accused of fraud
CONCORD, N.H. - A mortgage company that does business in New Hampshire, Maine and Massachusetts has been accused of fraud in New Hampshire. Mortgage Specialists, Inc.,... (Thu, 31 Jul 2008 11:36:04 GMT)

A zero-down mortgage by another name?
As the financial industry sits down with Ottawa this week to assess tighter mortgage rules, another lending product could find its way into the spotlight - cash-back mortgages. (Thu, 31 Jul 2008 12:11:16 GMT)

HDFC home loan rate up to 11.75% 31 Jul 2008, 1808 hrs IST,PTI
NEW DELHI: HDFC Ltd has announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers. The customers will now have to pay a minimum of 11.75 per cent interest on home loans. (Thu, 31 Jul 2008 12:56:17 GMT)

HDFC home loan rate up to 11.75%
HDFC Ltd has announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers. The customers will now have to pay a minimum of 11.75 per cent interest on home loans. (Thu, 31 Jul 2008 12:59:54 GMT)

AdCare Health Systems, Inc. Announces the Refinancing of a Nursing Home in Ohio
AdCare Health Systems, Inc. , an Ohio based long term care, home care and management company, today announced the refinancing of one of its nursing homes in Ohio. (Thu, 31 Jul 2008 13:00:00 GMT)

Home loans get costlier; repayment to rise by over 12 pc
Home loans just got costlier with the lending institutions on Thursday announcing a hike in their interest rates by an average of 0.75 per cent -- a move that would increase repayments by a minimum of about Rs 2.5 lakh for a Rs 20-lakh loan. (Thu, 31 Jul 2008 14:20:31 GMT)

Mortgages: Inflation fears ease, and mortgage rates fall: Freddie Mac
Mortgage rates have dropped this week, after a fall in commodity prices eased worries about inflationary pressures, according to Freddie Mac’s chief economist. (Thu, 31 Jul 2008 15:03:17 GMT)

Mortgage rates drop, for a change
Mortgage rates fell this week, as bad economic news outweighed the good. (Thu, 31 Jul 2008 15:07:42 GMT)

Freddie Mac boosts mortgage servicer incentives
NEW YORK (Reuters) - Freddie Mac , the second-biggest provider of funding for U.S. residential mortgages, on Thursday said it is boosting financial incentives to mortgage servicing companies in an effort to curb the trend of rising delinquencies. (Thu, 31 Jul 2008 15:23:33 GMT)

Home loan borrowers face higher instalment payout
New Delhi, July 31 : Already hit by spiralling prices of household items, those who have already taken home loans face the prospect of having to cough up higher equated monthly instalments (EMIs). (Thu, 31 Jul 2008 15:33:36 GMT)

Mortgage rates drop as oil eases
Mortgage rates fell slightly this week according to a weekly report released Wednesday, as lower oil prices briefly ease fears of price inflation. (Thu, 31 Jul 2008 15:35:39 GMT)

Mortgage rates fell slightly in week
WASHINGTON, July 31 (UPI) -- Interest rates for 30-year, fixed-rate mortgages declined in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 31 Jul 2008 16:32:13 GMT)

Freddie Mac boosts mortgage servicer incentives
Freddie Mac , the second-biggest provider of funding for U.S. residential mortgages, on Thursday said it is boosting incentives to mortgage servicing companies to help more borrowers renegotiate loans in an effort to curb rising delinquencies. (Thu, 31 Jul 2008 16:46:27 GMT)

ICICI, HDFC bank hike home loan rates by 0.75 percent
New Delhi, July 31 : The HDFC Ltd today announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers, who would now have to pay a minimum of 11.75 per cent interest on home loans. (Thu, 31 Jul 2008 17:12:28 GMT)

Wachovia mortgage cuts in next 2-3 months 1:33 PM
CHARLOTTE, N.C. -- Layoffs announced last week in Wachovia Corp.'s mortgage business will take place over the next two to three months, a spokeswoman said today. (Thu, 31 Jul 2008 17:44:41 GMT)

Home loans become costlier
Mumbai, July 31 ICICI Bank and HDFC on Thursday hiked home loan rates by a massive 0.75 percentage points, moving quickly to preserve margins in the wake of RBI raising key interest rates. (Thu, 31 Jul 2008 18:52:49 GMT)

License mortgage brokers, state panel urges
New York investigators say lax rules contributed to the subprime mortgage crisis. (Thu, 31 Jul 2008 19:12:42 GMT)

Some, but not all, will benefit from mortgage bailout law
WATSONVILLE - Federal legislation signed by the president Thursday aims to bolster the lagging housing market, but whether it will help local homeowners behind on their mortgage payments remains to be seen. (Thu, 31 Jul 2008 20:55:26 GMT)

Mortgage rates drop slightly after last week's big jump
Rates on 30-year mortgages, which shot up last week to the highest level in nearly a year, dropped slightly this week following passage of a housing rescue bill. (Thu, 31 Jul 2008 21:30:41 GMT)

New Mortgage Funding Plan Holds Lenders Accountable
In the mortgage-finance market, something old is new again. (Thu, 31 Jul 2008 21:44:32 GMT)

Federal Home Loan Bank of San Francisco Releases June 2008 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced July 31, 2008, that the 11th District Monthly Weighted Average Cost of Funds Index for June 2008 is 2.829%. The index for May 2008 was 2.918%. (Thu, 31 Jul 2008 22:06:00 GMT)

MountainView Capital Holdings Announces Initial Closing of MountainView Mortgage Opportunities Fund, LP
MountainView Capital Holdings, LLC ("MountainView") announced today the initial closing of the MountainView Mortgage Opportunities Fund, LP (the "Fund"). As of the initial closing, the Fund had raised approximately $80 million primarily from qualified institutional investors. (Thu, 31 Jul 2008 22:12:24 GMT)

HDFC, ICICI Bank home loan rates up
Mumbai: HDFC Ltd. and ICICI Bank on Thursday hiked their floating home loan rates by 0.75 per cent. — PTI (Thu, 31 Jul 2008 22:17:17 GMT)

Wheat Ridge businesses linked to mortgage fraud raided
Wheat Ridge police raided two businesses and three homes today and seized documents and computers in a search for evidence of mortgage fraud. (Thu, 31 Jul 2008 22:27:56 GMT)

Mirvac Freezes Mortgage Funds on Impaired Loans, Review Says
Aug. 1 (Bloomberg) -- Mirvac Group , an Australian real estate investment trust, has stopped redemptions and halted new applications for three mortgage funds holding more than A$240 million ($226 million), the Australian Financial Review reported. (Thu, 31 Jul 2008 22:48:45 GMT)

Kiwibank lowers home loan rates
Kiwibank has lowered its home loan interest rates, claiming it's stolen a march on its rivals. The bank has reduced its three-year fixed rate to 8.69%, a fall of 0.1%. (Thu, 31 Jul 2008 23:40:51 GMT)

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