Mortgage News Aug 2008

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Mortgage rates largely level off
WASHINGTON - Rates on 30-year mortgages remained at the same level for a third week, while rates on other types of home loans posted small declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent this week. (Fri, 15 Aug 2008 05:27:09 GMT)

Mortgage program not quite all there
A much-touted soft-second mortgage program designed to help low-income New Orleanians purchase freshly restored homes is not as "soft" as first described. And despite the July 31 announcement of its launch, it actually isn't yet ready to offer loans. (Fri, 15 Aug 2008 05:33:08 GMT)

Mortgage insurers reporting big losses
WASHINGTON -- Large mortgage insurers have reported $2.6 billion in losses so far this year, sparking fears that rising foreclosure rates could force the industry into a money crunch and ultimately make the home-buying process even more difficult. (Fri, 15 Aug 2008 07:53:58 GMT)

Mortgage insurers' losses raise concerns
Washington- Large mortgage insurers have reported $2.6 billion in losses so far this year, sparking concerns that rising foreclosure rates could force the industry into a money crunch and ultimately make the home-buying process even more difficult. (Fri, 15 Aug 2008 08:34:21 GMT)

30-year mortgage rates steady for third week in a row
Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines, mortgage company Freddie Mac reported Thursday. (Fri, 15 Aug 2008 09:12:58 GMT)

B.C. marijuana grower forfeits $600,000 mortgage-free home
A B.C. judge has ordered a marijuana grower on the Sunshine Coast to turn over his mortgage-free $600,000 home to the government in what appears to be the largest such forfeiture in B.C. history. (Fri, 15 Aug 2008 09:54:23 GMT)

Borrow to pay off car loan balance
Borrowing to pay down a car loan is better than the alternative, says Bankrate car columnist Terry Jackson. (Fri, 15 Aug 2008 10:00:00 GMT)

Lenders cut more mortgage rates
The Halifax becomes the latest lender to announce another round of mortgage rate cuts. (Fri, 15 Aug 2008 11:01:43 GMT)

Porto loan Rentería to Braga
SC Braga have announced the signing of Colombia striker Wason Rentería on loan from FC Porto for one season on the night they took a step nearer to the UEFA Cup first round. (Fri, 15 Aug 2008 11:55:07 GMT)

Hanover Capital Mortgage Holdings Announces 2008 Second Quarter Results
Hanover Capital Mortgage Holdings, Inc. reported a net loss for the quarter ended June 30, 2008 of $22.9 million, or $ per share on a fully diluted basis, compared to a net loss of $11.4 million, or $ per share on a fully diluted basis, for the same period of 2007. (Fri, 15 Aug 2008 12:00:00 GMT)

Harry Gross: Home-equity loans are paid in appreciation: What's the deal?
Dear Harry: My home is fully paid for, but I will need funds to pay for some substantial maintenance in the next year or two. (Fri, 15 Aug 2008 12:04:00 GMT)

Mortgage repossession orders climb
More borrowers risk losing their home after falling into arrears on mortgage payments, and a growing proportion are unable to reach an agreement with their lender to avoid repossession, according to the latest data on county court actions. (Fri, 15 Aug 2008 12:22:23 GMT)

A Brief History of Home Equity Loans
Louise Story has an excellent history of the home equity loan on the front page of today's NYT. She talks a lot about the explosion in such products -- outstandings rose a thousandfold, to $1 trillion, from the early 1980s to today -- as a product of clever bank marketing campaigns: ... (Fri, 15 Aug 2008 12:58:52 GMT)

Chelsea's Pizarro joins Werder Bremen on loan
Chelsea's Peruvian striker Claudio Pizarro has a shot at goal during their Premier League match against Bolton at home to Bolton, October 2007. Pizarro joined German club Werder Bremen on a year's loan on Friday. (Fri, 15 Aug 2008 16:29:10 GMT)

Is there any time I would want to have a zero-principal mortgage?
Is there any time I would want to have a zero-principal mortgage? As a general rule, entering a zero principal mortgage, or what is commonly referred to as an " interest-only mortgage ", is not in a home buyer's best interest. (Fri, 15 Aug 2008 16:34:30 GMT)

State using $50 million bond to solve student loan crisis
Kentucky officials have devised a way to pump $50 million into a state agency so it can resume issuing loans to college students as they prepare to begin fall classes. Gov. Steve Beshear announced Friday that the state will buy a $50-million bond from the Kentucky Higher Education Student Loan Corp., usually referred to as the Student Loan People. The .bridge loan,. as it is called, ... (Fri, 15 Aug 2008 17:03:36 GMT)

Web sites conjure mortgage quotes, play up privacy
Mortgage lenders have raised the bar on what it takes to qualify for a home loan the last couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. (Fri, 15 Aug 2008 17:33:01 GMT)

Police: Pa. men fire to home with mortgage woes
Two northwestern Pennsylvania men are jailed on charges they set fire to their home to collect $120,000 in insurance money after falling behind on mortgage payments. (Fri, 15 Aug 2008 17:39:36 GMT)

HBOS streamlines costs with job cuts and mortgage unit closure
HBOS, the UK's biggest mortgage lender, is to cut 425 jobs and close one of its five mortgage brands to new business as it aims to streamline costs. (Fri, 15 Aug 2008 18:01:14 GMT)

Web sites conjure mortgage quotes, play up privacy
Mortgage lenders have raised the bar on what it takes to qualify for a home loan the last couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. Where mortgage-scouting Web sites traditionally... (Fri, 15 Aug 2008 18:21:56 GMT)

Leader of Liberty Loan scam sentenced to 4½ years
The leader of a theft ring operating out of Seattle's Liberty Jewelry and Loan was sentenced Friday to 4 ½ years in prison. (Fri, 15 Aug 2008 21:38:24 GMT)

Conn's, Inc. Announces Completion of Asset Based Loan Facility
Conn's, Inc. (NASDAQ/NM:CONN), a specialty retailer of home appliances, consumer electronics, computers, lawn and garden products, furniture and mattresses, today announced that it entered into a $210 million revolving loan facility to provide additional liquidity to support the growth of the Company and its credit operations. (Fri, 15 Aug 2008 22:38:17 GMT)

EDITORIAL: Mortgage broker law will help
We believe: Indiana’s new mortgage broker law should weed out business practices that aren’t ethical. In the past year, the number of home foreclosures nationwide has been a sobering and depressing statistic. (Sat, 16 Aug 2008 00:02:47 GMT)

Loan isn't worth it if you don't need it
LOTS OF FOLKS have been asking me if the much-touted first-time home-buyer tax credit is worth taking. (Sat, 16 Aug 2008 02:07:21 GMT)

Loan isn't worth it if you don't need it
LOTS OF FOLKS have been asking me if the much-touted first-time home-buyer tax credit is worth taking. (Sat, 16 Aug 2008 04:39:53 GMT)

Mortgage quotes just a click away
LOS ANGELES -- Mortgage lenders have raised the bar on what it takes to qualify for a home loan the past couple of years, but shopping for a loan online actually has gotten a bit easier, if not necessarily less confusing. (Sat, 16 Aug 2008 05:04:13 GMT)

Boosting FICO score may help get a mortgage
Qualifying for a mortgage is not as easy as it used to be. From http://www.peoplejam.com, an online self-help community, here are tips on getting a mortgage: (Sat, 16 Aug 2008 05:37:55 GMT)

Winners and Losers As Loan Fees Change
The two biggest sources of mortgages for American home buyers plan to raise their base fees to counter what they call continuing "adverse conditions" in the real estate market. (Sat, 16 Aug 2008 07:01:03 GMT)

With Careful Analysis, an Inheritance Could Prove a Profitable Rental
Q: My sister and I inherited our family home. It has no mortgage debt. We agreed to sell it, but my husband suggested that we might buy my sister's half and use the property as a source of rental income. My sister is agreeable to this arrangement. How would we find out whether this would be a profitable investment? We would have to finance a loan, and some repairs would be needed before we could ... (Sat, 16 Aug 2008 07:07:08 GMT)

Some lenders may not honor their online mortgage quotes
LOS ANGELES — Mortgage lenders have raised the bar on what it takes to qualify for a home loan the last couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. (Sat, 16 Aug 2008 07:17:47 GMT)

Links We Like
Good dentists used to be hard to find. Now it’s easy. Search by zip code, city or name with this helpful tool. More With mortgage rates still near historic lows, now may be a good time to refinance. Fixed rates as low as 6.0%. *See terms. (Sat, 16 Aug 2008 10:13:23 GMT)

State using $50 million bond to solve student loan crisis
Kentucky will pump $50 million into a state agency so it can resume issuing loans to college students as they begin fall classes. Gov. Steve Beshear announced Friday that the state will buy a $50 million bond from the non-profit Kentucky Higher Education Student Loan Corp., usually referred to as The Student Loan People. The .bridge loan,. as Beshear called it, will jump-start the ... (Sat, 16 Aug 2008 10:56:46 GMT)

Financing crunch for BAA
THE airports group BAA faces a crunch week for its £7.1 billion refinancing. Bondholders in the company vote on Tuesday whether to accept the terms of a plan to shift their loans into a new credit structure. (Sat, 16 Aug 2008 12:41:18 GMT)

FBI Educates Public on Mortgage Scams
If you are facing foreclosure be wary of all the too good to be true offers popping up on websites and in your inbox. A lot of people are in dire financial straights because they got sucked into what is now being called the mortgage crisis. Now that the problem is being examined carefully, a lot of fraud is blamed as being a contributing factor to the entire mess. The problem is that the fraud ... (Sat, 16 Aug 2008 16:19:49 GMT)

12 farm suicides in four days in Vidarbha despite loan waiver
An unprecedented Rs.710 billion loan waiver has not stopped farm suicides in Vidarbha of Maharashtra with 12 such cases being reported in different parts of the region in the four days till the Independence Day. (Sat, 16 Aug 2008 16:48:46 GMT)

Searching for A Hot Investment? Try Your Mortgage.
I know where to get a guaranteed 6 percent return on savings, with no brokerage commissions, bank fees or worries that the Feds are going to have to swoop in and take over the failed institution that has my money. I'm putting whatever extra cash I can find into paying off my mortgage early. (Sat, 16 Aug 2008 21:50:40 GMT)

Mortgage industry chiefs play down fears of negative equity
THE problem of negative equity for home owners is being overblown and is not an issue as long as borrowers can meet their mortgage repayments, according to the Council of Mor (Sat, 16 Aug 2008 23:22:16 GMT)

Buy-to-let landlords in mortgage arrears
An estimated 10,000 buy-to-let landlords are more than three months behind with their mortgage, according to research from independent financial adviser Hargreaves Lansdown. More may follow and start struggling to meet their repayments as large numbers of landlords are due to come off cheap two- and three- year fixed-rate mortgage deals in 2009 and 2010. (Sat, 16 Aug 2008 23:23:42 GMT)

Mortgage Chief Resigns; Emergency Rules Instituted
Florida's top regulator of mortgage brokers said Tuesday that he will leave his post Sept. 30 amid continuing criticism for allowing thousands of ex-convicts to obtain mortgage brokering licenses and, in some cases, commit fraud. (Sat, 16 Aug 2008 23:44:24 GMT)

Getting Quotes: Mortgage lender Web sites useful
Mortgage lenders have raised the bar on what it takes to qualify for a home loan the past couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. (Sun, 17 Aug 2008 04:13:22 GMT)

Borrowers beware: It's up to you to take a close look at your loan documents
A little-known provision in the Housing and Economic Recovery Act, signed into law by President Bush recently, is supposed to help home buyers understand how much debt they are taking on. (Sun, 17 Aug 2008 05:16:19 GMT)

Newly enacted foreclosure rescue bill raises doubts
First-time homebuyers, veterans, senior citizens and delinquent mortgage holders may benefit from the newly enacted housing bill. How well it will work may depend on regulators and your bank. (Sun, 17 Aug 2008 05:21:23 GMT)

Mortgage closings cost less here
North Carolina is the cheapest state for mortgage closing costs, Bankrate.com reports. Lawyers' fees and other costs averaged $2,650 here, compared with a national average of $3,118. (Sun, 17 Aug 2008 05:50:15 GMT)

Mortgage rates
WASHINGTON -- Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent this week. (Sun, 17 Aug 2008 07:04:02 GMT)

Q&A on home buyer tax credit that's really a loan
MICHELLE SINGLETARY (Sun, 17 Aug 2008 07:06:35 GMT)

As market drags, home loan fees expected to shift
The two biggest sources of mortgages for American homebuyers plan to raise their base fees to counter what they see as continuing ''adverse conditions'' in the real estate marketplace. (Sun, 17 Aug 2008 07:20:21 GMT)

What to look for in an appraiser
Questions and answers on how consumers can ensure they are getting an honest appraisal when buying or selling a home, refinancing an existing mortgage or taking out a home equity loan or line of credit: (Sun, 17 Aug 2008 07:21:01 GMT)

Q&A on home buyer tax credit that's really a loan
MICHELLE SINGLETARY Part of the Housing and Economic Recovery Act of 2008 authorizes up to a $7,500 tax credit for qualified first-time home buyers. Based on the questions I'm getting from readers, many people are ready to jump at this money like Scooby Doo panting after Scooby snacks. (Sun, 17 Aug 2008 07:35:17 GMT)

30-year mortgage steady, other rates decline
Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent last week.... (Sun, 17 Aug 2008 07:38:37 GMT)

Q&A on home buyer tax credit that's really a loan
MICHELLE SINGLETARY Part of the Housing and Economic Recovery Act of 2008 authorizes up to a $7,500 tax credit for qualified first-time home buyers. Based on the questions I'm getting from readers, many people are ready to jump at this money like Scooby Doo panting after Scooby snacks. (Sun, 17 Aug 2008 08:06:10 GMT)

Mortgage? Get rid of it!
SHOULD I pay off my mortgage? It’s the question I’m hearing all the time—and it’s a good one. (Sun, 17 Aug 2008 08:50:17 GMT)

Compare mortgage rates online anonymously
LOS ANGELES -- Mortgage lenders have raised the bar on what it takes to qualify for a home loan in the past few years, but shopping for a loan online actually has gotten easier, if not necessarily less confusing. (Sun, 17 Aug 2008 09:42:43 GMT)

Many go bust in mortgage meltdown
Home loan mess blamed for 31% rise in bankruptcies (Sun, 17 Aug 2008 10:01:11 GMT)

Buying first home hardest since 70s
Business & money: First-time buyers are spending more of their income on a home than at any time since 1974, says study (Sun, 17 Aug 2008 10:50:00 GMT)

Schon Properties Sets Up Dedicated Mortgage Advisory
Dubai, August 17, 2008: Schön Properties announced it has established a Mortgage Advisory Centre, a dedicated facility that offers professional mortgage consultation services from the property firm's team of expert mortgage advisors. (Sun, 17 Aug 2008 11:37:13 GMT)

Buying a home starts with planning
• We’re thinking about Buying our first home, how should we go about doing it? (Sun, 17 Aug 2008 11:38:23 GMT)

Schön Properties sets up dedicated Mortgage Advisory
Schön Properties announced it has established a Mortgage Advisory Centre, a dedicated facility that offers professional mortgage consultation services from the property firm's team of expert mortgage advisors. (Sun, 17 Aug 2008 11:44:28 GMT)

You can buy a Vail Valley home
EAGLE COUNTY — No one in the real estate business likes saying no. But “no” is becoming more common in the vocabulary of brokers and lenders, especially when it comes to first-time home buyers. (Sun, 17 Aug 2008 12:14:23 GMT)

How to size up an appraiser
Consumers want to know how they can ensure an honest appraisal when they’re buying or selling a home, refinancing a mortgage or taking out a home-equity loan or line of credit. (Sun, 17 Aug 2008 12:19:21 GMT)

Questions and answers on hiring an appraiser
Questions and answers on how consumers can ensure they are getting an honest appraisal when buying or selling a home, refinancing an existing mortgage or taking out a home equity loan or line of credit: (Sun, 17 Aug 2008 17:10:10 GMT)

With some digging, consumers can investigate before hiring a real estate appraiser
Q: Who orders an appraisal? A: Most appraisals are ordered by lenders, who use the information to determine the collateral value of a home when deciding whether approve a mortgage loan. But consumers can also order an appraisal, and might choose to do so for a number of reasons. (Sun, 17 Aug 2008 17:18:08 GMT)

Questions and answers on hiring an appraiser
Questions and answers on how consumers can ensure they are getting an honest appraisal when buying or selling a home, refinancing an existing mortgage or taking out a home equity loan or line of credit: Q: Who orders an appraisal? A: Most appraisals are... (Sun, 17 Aug 2008 17:37:08 GMT)

Foreclosure hits home for disabled military vet
The nation's foreclosure crisis is hitting some homeowners hard. Former Army Sgt. Ron Rusak is falling behind on his mortgage and he's clinging to hope. (Sun, 17 Aug 2008 17:59:32 GMT)

State cracking down on mortgage lending violations
Oregon regulators are cracking down on four companies whom they say have violated the state's mortgage lending laws. (Sun, 17 Aug 2008 21:25:41 GMT)

No ID needed for loan search
LOS ANGELES -- Mortgage lenders have raised the bar on what it takes to qualify for a home loan the last couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. (Mon, 18 Aug 2008 00:37:35 GMT)

Lower rates improving home loan affordabity
Falling interest rates improved housing affordability in July to its best level since February 2007, the Wizard Home Loans Affordability report shows. (Mon, 18 Aug 2008 00:52:40 GMT)

Lower interest rates improving home loan affordability
It's now easier for average New Zealanders to afford their own house than it has been for 18 months. Falling interest rates have improved housing affordability in July to its best level since February 2007, the Wizard Home Loans Affordability report shows. (Mon, 18 Aug 2008 01:22:34 GMT)

Sheriff's sales are gauge of mortgage defaults
Sheriff’s sales — a key indicator of the mortgage crisis — have ballooned more than sixfold since 2003 in 10 metro counties, and another wave is expected. (Mon, 18 Aug 2008 02:37:23 GMT)

HSBC cuts fixed mortgage rates
HSBC Bank Australia has cut its fixed home loan mortgage rates, citing a recent fall in borrowing costs. (Mon, 18 Aug 2008 03:34:00 GMT)

Home appraisals remain a problem, AP probe finds
As soaring home prices set the stage for America's great housing meltdown, a critical step in making sure those home sales were a fair deal -- the real-estate appraisal -- was undermined from within. (Mon, 18 Aug 2008 04:10:32 GMT)

Woman sues over subprime loan, wins
A Silver Spring woman who defaulted on a subprime loan has been awarded $1.25 million in damages from her lender, Wells Fargo Bank N.A. The borrower, Kimberly Thomas, was awarded $250,000 in damages and $1 million in punitive damages in Montgomery County Circuit Court July 31. A six-member jury convicted Wells Fargo of fraud, negligence and other charges for inflating Thomas’ income and assets ... (Mon, 18 Aug 2008 05:43:57 GMT)

State using $50 million bond to solve student loan crisis
Kentucky will pump $50 million into a state agency so it can resume issuing loans to college students as they begin fall classes. Gov. Steve Beshear announced Friday that the state will buy a $50 million bond from the non-profit Kentucky Higher Education Student Loan Corp., usually referred to as The Student Loan People. The .bridge loan,. as Beshear called it, will jump-start the ... (Mon, 18 Aug 2008 05:53:09 GMT)

American Bank suing Centennial Mortgage, executives for fraud
American Bank of St. Paul is suing Centennial Mortgage and Funding Inc. and six members of its senior management for fraud associated with a $13 million loan that caused the bank to post a $7 million loss in the first quarter of this year. (Mon, 18 Aug 2008 06:30:33 GMT)

Countrywide local leader in 2007 home lending
Countrywide Home Loans has surpassed SunTrust as Middle Tennessee's top mortgage lender, according to research conducted by the Nashville Business Journal. (Mon, 18 Aug 2008 06:32:33 GMT)

New Mortgage Calculator Solves Common Prequalification Puzzle
A new mortgage prequalification calculator created by mortgage information site Calculators4Mortgages.com has solved a common dilemma for home buyers. This new calculator allows users to sidestep a common trial-and-error process and get a more accurate result. (Mon, 18 Aug 2008 07:01:00 GMT)

Frugal Family Challenge: Can these parents trim expenses?
Most of us know we should save more, shop less and live within our means. But temptations to spend beckon to us everywhere. Fact is, millions of American families have saved little or nothing for retirement, college or emergencies. (Mon, 18 Aug 2008 07:02:12 GMT)

Brighton's Premium Mortgage Corp. growing in a shrinking industry
Mike Donoghue talks about Premium Mortgage Corp. (Mon, 18 Aug 2008 07:06:34 GMT)

Internet makes mortgage scouting a little easier
Mortgage lenders have raised the bar on what it takes to qualify for a home loan the last couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. (Mon, 18 Aug 2008 07:20:26 GMT)

IndyMac’s reverse mortgage unit still stands; 75 local staff laid off
The financial turmoil and federal takeover of IndyMac Bank didn’t hit the Sacramento area as hard as it did in many other areas, thanks to the Financial Freedom reverse mortgage operation in Rancho Cordova. (Mon, 18 Aug 2008 07:25:28 GMT)

Wood Co. considers joining loan fund
WISCONSIN RAPIDS -- The Wood County Board of Supervisors is expected to decide Tuesday whether to allow the county to participate in a regional revolving loan fund that would provide money for business development. (Mon, 18 Aug 2008 08:53:42 GMT)

HSBC Australia cuts fixed mortgage rates
HSBC Bank Australia has cut its fixed home loan mortgage rates, citing a recent fall in borrowing costs. The biggest reduction was to the bank's three-year fixed rate for new customers, which has fallen to 7.99 per cent, from 9.29 per cent previously. (Mon, 18 Aug 2008 09:41:02 GMT)

Mortgage Brain launches Debt Consolidator Calculator
Mortgage Brain has revealed a new Debt Consolidator Calculator as a part of its new sourcing system, Mortgage Brain 6.70. ... (Mon, 18 Aug 2008 09:47:26 GMT)

AIG United Guaranty Canada launches new mortgage policy
AIG United Guaranty Canada has launched Upgrade Advantage, a new mortgage insurance product developed to assist Canadian borrowers who are purchasing a newly constructed house or condominium. (Mon, 18 Aug 2008 09:47:44 GMT)

Mortgage counseling coming to Butler Co.
A one-day event is coming to town, designed to help homeowners navigate their way through home loan uncertainties, mounting mortgage debt and the threat of foreclosure. (Mon, 18 Aug 2008 09:49:05 GMT)

You can buy a Vail Valley home
EAGLE COUNTY — No one in the real estate business likes saying no. But “no” is becoming more common in the vocabulary of brokers and lenders, especially when it comes to first-time home buyers. (Mon, 18 Aug 2008 10:30:41 GMT)

Home loan relief may leave some behind
People facing foreclosure, wanting to refinance or looking to buy a home may find the process and options different than they were just a couple weeks ago. (Mon, 18 Aug 2008 10:44:17 GMT)

Mortgage insurers spent over $1.1M lobbying in 2Q
The trade group for mortgage insurers spent more than $1.1 million lobbying in the first quarter on issues dealing with the housing market slump, according to a recent disclosure form. (Mon, 18 Aug 2008 12:48:44 GMT)

BOE's Besley Says Higher Mortgage Costs Hurt Household Spending
Aug. 18 (Bloomberg) -- Bank of England policy maker Timothy Besley said that consumption suffers as banks widen their margins on mortgage lending, according to a paper published today. (Mon, 18 Aug 2008 14:04:46 GMT)

Roy Jacobs & Associates Files Class Action Lawsuit On Behalf of Purchasers of Federal Home Loan Mortgage Corp. ...
NEW YORK, Aug. 18, 2008 -- Roy Jacobs & Associates announces that it has filed a class action alleging violations of the federal securities law against the Federal Home Loan Mortgage Corporation and certain of its officers and directors on behalf of purchasers of Freddie Mac securities from November 21, 2007 through August 5, 2008, . (Mon, 18 Aug 2008 16:04:01 GMT)

Mortgage finance companies Fannie Mae, Freddie Mac sink on fears of government takeover
WASHINGTON (AP) - Shares of mortgage finance companies Fannie Mae and Freddie Mac tumbled Monday amid renewed fears that shareholders will wind up with nothing if the government intervenes to bail out the troubled companies. (Mon, 18 Aug 2008 16:26:08 GMT)

St. Louis home prices fall 11.4%
Average St. Louis-area home prices fell 11.4 percent over the past 12 months through June, according to new data released Monday by First American CoreLogic. (FAF) (Mon, 18 Aug 2008 16:48:56 GMT)

Mortgage giants rescue could hit $25 billion
A federal rescue of Fannie Mae and Freddie Mac could cost taxpayers $25 billion, congressional budget experts said Tuesday, as lawmakers put finishing touches on legislation that would tap the troubled mortgage giants' profits to help save homeowners from foreclosure. (Mon, 18 Aug 2008 16:56:02 GMT)

Bail-out fears hit mortgage firms
Shares in Freddie Mac and Fannie Mae fall again on fears the US government will be forced to bail out the troubled mortgage giants. (Mon, 18 Aug 2008 17:00:48 GMT)

Six plead guilty in $17M mortgage fraud scheme
Six South Florida residents have pleaded guilty in connection with a mortgage fraud scheme that defrauded several financial institutions out of more than $17 million. (Mon, 18 Aug 2008 17:12:08 GMT)

Gov't-backed home loans triple
The share of home loan applications backed by the government more than tripled last month from a year earlier as funding for home loans dried up from private lenders, an industry group said Monday. (Mon, 18 Aug 2008 17:20:01 GMT)

6 plead guilty to mortgage fraud
Six defendants have pleaded guilty to participating in a $17 million mortgage fraud scheme in Miami-Dade County involving inflated property values and falsified closing statements, Florida's attorney general announced Monday. (Mon, 18 Aug 2008 17:50:54 GMT)

'Liar loans' may prolong mortgage crisis
'Liar loans' - mortgages approved without requiring proof - may prolong the mortgage crisis. (Mon, 18 Aug 2008 18:20:15 GMT)

'Liar Loans' Threaten To Prolong Mortgage Crisis
In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." (Mon, 18 Aug 2008 18:21:08 GMT)

'Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. (Mon, 18 Aug 2008 18:27:00 GMT)

'Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called "liar loans" — mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." (Mon, 18 Aug 2008 18:27:48 GMT)

Tax credit for first time home buyers comes with caveats
Washington policy makers and housing industry insiders hope a new tax credit for first-time home buyers will get the moribund housing market moving again. (Mon, 18 Aug 2008 18:31:00 GMT)

'Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." The nation's struggling... (Mon, 18 Aug 2008 18:37:05 GMT)

'Liar loans' threaten to prolong mortgage crisis
-- In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." (Mon, 18 Aug 2008 18:42:15 GMT)

You can buy a Vail Valley home
EAGLE COUNTY — No one in the real estate business likes saying no. But “no” is becoming more common in the vocabulary of brokers and lenders, especially when it comes to first-time home buyers. (Mon, 18 Aug 2008 19:14:34 GMT)

'Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." The nation's struggling housing market, already awash in subprime foreclosures, is now getting hit with a second wave of losses as homeowners with liar loans ... (Mon, 18 Aug 2008 19:30:00 GMT)

Mortgage relief bill could save Linn homes
Linn County homeowners facing foreclosure could find some good news in the mortgage relief bill signed by President Bush in July. (Mon, 18 Aug 2008 19:42:26 GMT)

Liar loans in the United States threaten to prolong mortgage crisis
NEW YORK - In the U.S. mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." (Mon, 18 Aug 2008 19:53:02 GMT)

Stocks fall on mortgage market fears
U.S. stocks tumbled on Monday on the prospect of more losses from the mortgage crisis, with shares of banks and the two biggest home finance providers sending the major indexes down about 1.5 percent. (Mon, 18 Aug 2008 20:11:49 GMT)

'Liar loans' threaten mortgage crisis
'Liar loans' - ones approved without requiring proof - may prolong the mortgage crisis. (Mon, 18 Aug 2008 21:22:51 GMT)

Fitch Takes Various Actions on 2 First Horizon Home Loan Corp Prime Pre-2005 Deals
Fitch Ratings has taken numerous rating actions on the First Horizon Home Loan Corporation Prime RMBS transactions listed below: (Mon, 18 Aug 2008 21:38:02 GMT)

'Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called "liar loans" — mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." (Mon, 18 Aug 2008 21:50:30 GMT)

‘Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called “liar loans” — mortgages approved without requiring proof of the borrower's income or assets. (Tue, 19 Aug 2008 03:22:55 GMT)

‘Liar loans’ worsen U.S. mortgage crisis
In the mortgage industry, they are called “liar loans” — mortgages approved without requiring proof of the borrower’s income or assets. The worst of them earn the nickname “ninja loans,” short for “no income, no job, and (no) assets.” The nation’s struggling housing market, already awash in subprime foreclosures, is now getting hit with a second wave of losses as homeowners with liar loans ... (Tue, 19 Aug 2008 04:28:10 GMT)

Mortgage lenders take stocks down with them
Wall Street retreated yesterday after Fannie Mae and Freddie Mac fell to their lowest levels in nearly 20 years on concerns the government might need to bail out the mortgage financiers. Weakness in the overall financial sector sent the Dow Jones industrial average down about 180 points. (Tue, 19 Aug 2008 04:49:34 GMT)

Is refinancing right for you?
Instead of watching their American dream sink, thousands of Virginia homeowners are staying afloat by refinancing their mortgage. But is it right for you? MyFox Hampton Roads talked to a mortgage loan specialist to find out. (Tue, 19 Aug 2008 05:00:21 GMT)

Mortgage relief bill could save Linn homes
Linn County homeowners facing foreclosure could find some good news in the mortgage relief bill signed by President Bush in July. (Tue, 19 Aug 2008 05:28:57 GMT)

Mortgage payment leeway offered
A new policy by Freddie Mac gives some people with delinquent mortgage payments more time to reach an agreement. It could be a boost in a state where nearly 10 percent of homeowners are behind on their house payments. (Tue, 19 Aug 2008 06:32:55 GMT)

FINANCE: Government backed mortgage loans on the rise
Government agencies are backing a much larger portion of mortgages compared to the same time last year, according to a report released Monday by the Mortgage Bankers Association. (Tue, 19 Aug 2008 07:57:37 GMT)

High borrowing costs defy Fed's interest rate cuts
The Federal Reserve Board has pushed short-term interest rates lower, but the credit crunch is raising borrowing costs for corporations and home buyers. (Tue, 19 Aug 2008 08:00:48 GMT)

Mortgage giants decline over renewed bailout fears
Shares of mortgage finance giants Fannie Mae and Freddie Mac tumbled Monday amid renewed fears that shareholders will wind up with nothing if the government intervenes to bail out the troubled companies. (Tue, 19 Aug 2008 08:38:20 GMT)

Six plead guilty in mortgage fraud
Six defendants have pleaded guilty to participating in a $17 million mortgage fraud scheme in Miami-Dade County involving inflated property values and falsified closing statements, Florida's attorney general announced Monday. (Tue, 19 Aug 2008 09:51:04 GMT)

Man City take out £30m loan against TV revenue
Manchester City have reportedly moved to create a transfer kitty for new boss Mark Hughes by taking out a £30million loan secured against future television revenue. (Tue, 19 Aug 2008 11:04:40 GMT)

.Liar loans' threaten to prolong mortgage crisis
In the mortgage industry, they are called .liar loans. . mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname .ninja loans,. short for .no income, no job, and (no) assets.. The nation's struggling housing market, already awash in subprime foreclosures, is now getting hit with a second wave of losses as homeowners with liar ... (Tue, 19 Aug 2008 11:14:50 GMT)

Tax credit for first time home buyers comes with caveats
Washington policy makers and housing industry insiders hope a new tax credit for first-time home buyers will get the moribund housing market moving again. (Tue, 19 Aug 2008 11:18:00 GMT)

NH banking dept., mortgage company reach agreement
Associated Press - August 19, 2008 7:05 AM ET MANCHESTER, N.H. (AP) - A mortgage company that does business in New Hampshire, Maine and Massachusetts has agreed to pay $425,000 as part of a... (Tue, 19 Aug 2008 11:22:51 GMT)

Mortgage Co. Settles With Banking Regulators
A mortgage company that does business in New Hampshire, Maine and Massachusetts has agreed to pay $425,000 as part of a settlement with New Hampshire banking regulators. (Tue, 19 Aug 2008 12:11:28 GMT)

'Liar loans' threatening to prolong mortgage crisis
In the mortgage industry, they are called "liar loans" - mortgages approved without proof of the borrower's income or assets. The worst earn the nickname "ninja loans": "no income, no job, and (no) assets." (Tue, 19 Aug 2008 12:23:24 GMT)

Home Federal Bancorp sets regular dividend
The board of Home Federal Bancorp Inc. on Friday declared a quarterly cash dividend of 5.5 cents. The savings and loan holding company will pay the dividend Sept. 12 to shareholders of record as of Aug. 29. (Tue, 19 Aug 2008 12:34:38 GMT)

American Home to pay fraction of bankruptcy claims
American Home Mortgage Investment Corp , which was among the largest U.S. home loan providers before seeking bankruptcy protection a year ago, said it will pay unsecured creditors no more than 5.9 cents on the dollar as it liquidates assets. (Tue, 19 Aug 2008 13:43:03 GMT)

Trouble with U.S. mortgage giants spreads
WASHINGTON, Aug. 19 (UPI) -- Fears over two U.S. mortgage giants collapsing are rippling through financial systems and putting a strain on the system, analysts said. (Tue, 19 Aug 2008 14:20:36 GMT)

Mortgage crisis complicates aid for BRAC-affected homeowners
The broad effects of the housing mortgage crisis will prevent nine out of 10 homeowners affected by base closure and realignment actions from receiving financial help under the Homeowners Assistance Program (HAP), according to Army Corps of Engineers officials who manage that program. (Tue, 19 Aug 2008 15:18:44 GMT)

Mortgage lender promotes sale to Santander
British mortgage lender Alliance & Leicester urged shareholders on Tuesday to accept a $2.4 billion takeover offer from Spain's Banco Santander as the best protection for their investment amid extreme financial market turbulence and the deteriorating outlook for the domestic economy. (Tue, 19 Aug 2008 15:40:21 GMT)

Fitch Affirms Metrofinanciera's at 'B+'/'BBB(mex)'; Downgrades Individual to 'D/E'; Outlook Stable
MONTERREY, Mexico & NEW YORK----Fitch has taken various rating actions on Mexican mortgage company Metrofinanciera, S.A. de C.V. . Its Individual rating was downgraded to 'D/E' from 'D', given continued pressures on its capital adequacy, asset quality, liquidity and refinancing needs. (Tue, 19 Aug 2008 16:17:00 GMT)

Free foreclosure help session today
LIBERTY TWP. — Worried about making your next mortgage payment? (Tue, 19 Aug 2008 16:23:54 GMT)

Fitch Affirms Metrofinanciera's at 'B+'/'BBB(mex)'; Downgrades Individual to 'D/E'; Outlook Stable
Fitch has taken various rating actions on Mexican mortgage company Metrofinanciera, S.A. de C.V. (Metro). Its Individual rating was downgraded to 'D/E' from 'D', given continued pressures on its capital adequacy, asset quality, liquidity and refinancing needs. In view of increasing support mechanisms from the housing development bank SHF, Fitch has upgraded Metro's support rating to '4' from '5' ... (Tue, 19 Aug 2008 16:38:04 GMT)

NH regulators, mortgage company reach settlement
A mortgage company that does business in New Hampshire, Maine and Massachusetts has agreed to pay $425,000 as part of a settlement with New Hampshire banking regulators. (Tue, 19 Aug 2008 16:40:33 GMT)

Dubai issues first mortgage law to regulate sector
DUBAI – His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has issued a new mortgage law as part of moves to regulate Dubai's booming real estate sector, the chief executive of the Real Estate Regulatory Authority said. (Tue, 19 Aug 2008 16:50:01 GMT)

NH banking dept., mortgage company reach agreement
MANCHESTER, N.H. - A mortgage company that does business in New Hampshire, Maine and Massachusetts agreed to pay $425,000 as part of a settlement announced Monday with New... (Tue, 19 Aug 2008 17:51:13 GMT)

BANK/FINANCE
CORTLAND - The Community Preservation Corp. (CPC), a Syracuse-based nonprofit mortgage lender, has closed a $4 million dollar Freddie Mac loan to refinance the Cortland Park Apartments in Cortland. (Tue, 19 Aug 2008 18:27:36 GMT)

Russia 'makes 1 bln dlrs' on Fannie Mae, Freddie Mac bonds: reports
Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday. (Tue, 19 Aug 2008 18:59:51 GMT)

Broker implicated in mortgage fraud scheme pleads guilty
A Twin Cities mortgage broker charged in connection with a $4.9 million mortgage fraud scheme involving dozens of homes in Minneapolis and one in Golden Valley pleaded guilty today to one count of racketeering just minutes before he was to go to trial, said Hennepin County Prosecutor Tom Fabel. (Tue, 19 Aug 2008 20:07:23 GMT)

Market down on US mortgage fears
NEW concerns about US mortgage market heavyweights Fannie Mae and Freddie Mac caused a drop in financial shares worldwide yesterday. (Tue, 19 Aug 2008 23:59:59 GMT)

Mortgage Choice profit dips 1.2%
Mortgage originator Mortgage Choice Ltd has reported a 1.2 per cent fall in annual profit but says it is well positioned for the new financial year. Net profit for the year ended June 30 was $19.33 million, down from $19.59 for the previous year. (Wed, 20 Aug 2008 00:41:03 GMT)

Mortgage Choice profit dips
MORTGAGE originator Mortgage Choice has reported a 1.2 per cent fall in annual profit but says it is well positioned for the new financial year. (Wed, 20 Aug 2008 00:49:00 GMT)

Fannie, Freddie woes raising mortgage rates
Jeff Jaye, a mortgage broker in Northern California, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. Today, he rarely bothers with those applications because he knows most homeowners can't qualify for a new loan. (Wed, 20 Aug 2008 01:19:00 GMT)

Mortgage Choice sees 1pc profit fall
MORTGAGE Choice has reported a 1.2 per cent fall in annual profit but says it is well positioned for the new financial year. (Wed, 20 Aug 2008 02:00:00 GMT)

Minneapolis Mortgage Broker Pleads Guilty to $27M Scheme
Donald Walthall, the man who bought, inflated, and flipped nearly 100 homes in north Minneapolis, pleaded guilty Tuesday to racketeering and operating a criminal enterprise under the name Universal Mortgage. (Wed, 20 Aug 2008 03:02:50 GMT)

Fannie, Freddie fallout is felt
Jeff Jaye, a mortgage broker in Northern California, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. (Wed, 20 Aug 2008 03:39:26 GMT)

You can buy a Vail Valley home
EAGLE COUNTY — No one in the real estate business likes saying no. But “no” is becoming more common in the vocabulary of brokers and lenders, especially when it comes to first-time home buyers. (Wed, 20 Aug 2008 04:14:26 GMT)

'Liar loans' drag out the mortgage crisis
In the mortgage industry, they are called "liar loans" -- mortgages approved without proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." (Wed, 20 Aug 2008 04:49:57 GMT)

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