Mortgage News Aug 2008

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Loan firms' troubles squeeze home mortgage borrowers
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 05:18:37 GMT)

Houston's median home price hits record high
The median home price in the Houston area hit an all-time high in July, but the good news was tempered by sluggish sales, which fell for the 11th month in a row. (Wed, 20 Aug 2008 05:53:08 GMT)

Fannie, Freddie fallout hitting home
Fannie Mae and Freddie Mac may or may not need a government bailout, but the turmoil surrounding the mortgage-finance companies' decline has already meant four things for borrowers: higher interest rates, more fees and closing costs, bigger down payments and fewer loan choices. (Wed, 20 Aug 2008 07:12:48 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." (Wed, 20 Aug 2008 07:57:28 GMT)

Hip-hop's Dash skipped paying mortgage: suit
A bank is suing Damon Dash for allegedly dashing away from his mortgage. The hip-hop mogul failed to pay Eastern Savings Bank $78,504 in monthly payments for a pair of trendy Tribeca condos, the bank claims. (Wed, 20 Aug 2008 08:27:09 GMT)

Mortgage lending slump continues
The slump in mortgage lending continued in July, according to the latest figures from the Council of Mortgage Lenders. (Wed, 20 Aug 2008 09:04:08 GMT)

Dollars & Sense: Identity theft hits close to home
Imagine applying for a student loan, your first foray into the world of credit, and being turned down because your credit report shows you have a long history of delinquent accounts. (Wed, 20 Aug 2008 10:52:07 GMT)

U.S. mortgage applications fall sharply
Applications for mortgages mirror the slump in U.S. housing that is now in its third year. (Wed, 20 Aug 2008 11:34:40 GMT)

U.S. MBA's Mortgage Applications Index Fell 1.5% Last Week
Aug. 20 (Bloomberg) -- Mortgage applications in the U.S. declined last week to the lowest level since December 2000 as fewer homeowners sought to refinance their mortgages. (Wed, 20 Aug 2008 11:46:53 GMT)

U.S. mortgage applications at eight-year low
NEW YORK — Applications for U.S. home mortgages last week fell to their slowest pace since December 2000, hurt by refinancing loan requests that are now just a quarter of March levels, an industry group reported on Wednesday. (Wed, 20 Aug 2008 11:47:54 GMT)

Mortgage application volume hits multiyear low
Mortgage application volume fell last week to its lowest levels in more than six years, the Mortgage Bankers Association said Wednesday. (Wed, 20 Aug 2008 11:54:30 GMT)

UK Gross Mortgage Lending Rises In July - CML
(RTTNews) - UK's gross mortgage lending increased 5% in July from the previous month, the Council of Mortgage Lenders, or CML reported Wednesday. Gross mortgage lending totaled GBP24.8 billion in July, down 27% on a yearly basis. (Wed, 20 Aug 2008 11:57:27 GMT)

Mortgage applications drop to lowest level in more than 6 years, despite lower interest rates
NEW YORK - Mortgage application volume fell last week to its lowest levels in more than six years, the Mortgage Bankers Association said Wednesday. The fall in application volume is the latest sign of a struggling housing market. (Wed, 20 Aug 2008 12:02:57 GMT)

Head of fraudulent mortgage company pleads guilty
Hennepin County officials say a man charged with dozens of cases of mortgage fraud -- mostly in north Minneapolis -- pleaded guilty. (Wed, 20 Aug 2008 12:03:41 GMT)

Mortgage application volume hits multiyear low
Mortgage application volume fell last week to its lowest levels in more than six years, the Mortgage Bankers Association said Wednesday. The fall in application volume is the latest sign of a struggling housing market. On Tuesday, a Commerce Department report... (Wed, 20 Aug 2008 12:06:39 GMT)

Mortgage company agrees to settlement
A mortgage company that does business in New Hampshire, Maine and Massachusetts agreed to pay $425,000 as part of a settlement announced Monday by New Hampshire banking regulators. (Wed, 20 Aug 2008 12:09:12 GMT)

U.S. mortgage applications at eight-year low
Loan refinancing requests are now at a quarter of March levels (Wed, 20 Aug 2008 12:13:14 GMT)

Mortgage applications hit six year low
Trade group report shows drop in both new mortgages and refinancing of existing ones. (Wed, 20 Aug 2008 12:13:56 GMT)

Mortgage volume fell 1.5% last week: MBA
Mortgage rates fell last week, yet that didn’t inspire more borrowers to apply for a mortgage, according to the Mortgage Bankers Association’s latest survey, released on Wednesday. (Wed, 20 Aug 2008 12:27:08 GMT)

Mortgage applications sink to multiyear low
Mortgage application volume fell last week to its lowest levels in more than six years, the Mortgage Bankers Association said Wednesday. (Wed, 20 Aug 2008 13:11:08 GMT)

Mortgage application volume hits multiyear low
Mortgage application volume fell last week to its lowest levels in nearly eight years, the Mortgage Bankers Association said Wednesday. (Wed, 20 Aug 2008 13:11:26 GMT)

Mortgage Applications Decline 1.5 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume declined last week, due in part to a 3.7 percent decline in refinancing activity. Purchase activity for the week also ticked down. (Wed, 20 Aug 2008 13:16:46 GMT)

Mortgage demand drops despite falling rates
Mortgage applications fell last week despite a drop in interest rates, the Mortgage Bankers Association said Wednesday. (Wed, 20 Aug 2008 13:32:02 GMT)

FDIC has mortgage plan for IndyMac borrowers
Federal regulators have worked out a plan to modify mortgage terms for troubled home borrowers holding loans from IndyMac Federal Bank, which the government seized last month after it became the largest regulated thrift to fail. (Wed, 20 Aug 2008 14:33:05 GMT)

U.S. MBA's Mortgage Applications Index Fell 1.5% (Update1)
The Mortgage Bankers Association's index of applications to buy a home or refinance a loan dropped 1.5 percent from the prior week to 419.3. The group's purchase index fell 0.4 percent and its refinancing gauge slumped 3.7 percent. (Wed, 20 Aug 2008 14:46:48 GMT)

Thornburg Mortgage extends stock exchange offer
Mortgage lender Thornburg Mortgage Inc. on Wednesday extended its exchange offer for four classes of its preferred stock, as part of its efforts to remain in business. (Wed, 20 Aug 2008 15:11:40 GMT)

US mortgage application index drops 1.5%
US mortgage applications declined by 1.5% last week despite a drop in interest rates. (Wed, 20 Aug 2008 15:33:00 GMT)

FDIC plans for IndyMac home borrowers
Government-seized bank is a test case for regulators' comprehensive loan modification plan to manage losses from defaults. (Wed, 20 Aug 2008 15:58:56 GMT)

Speculation swirls around ailing US mortgage giants
Speculation about the stressed financial health of US mortgage-finance giants Fannie Mae and Freddie Mac swirled Wednesday as their share prices further plummeted. (Wed, 20 Aug 2008 16:01:26 GMT)

Mortgage application volume hits multiyear low
NEW YORK -- Mortgage application volume fell last week to its lowest levels in nearly eight years, the Mortgage Bankers Association said today. ... (Wed, 20 Aug 2008 16:27:28 GMT)

American Home to pay fraction of bankruptcy claims
NEW YORK (Reuters) - American Home Mortgage Investment Corp (AHMIQ.PK), 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. (Wed, 20 Aug 2008 17:34:10 GMT)

Mortgage Applications Hit Multiyear Low
Mortgage applications have dropped to lowest level since late 2000. (Wed, 20 Aug 2008 17:40:34 GMT)

Regulator to help IndyMac mortgage borrowers
Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac may soon be able to avoid foreclosure under a program announced on Wednesday by U.S. banking regulators. (Wed, 20 Aug 2008 19:39:34 GMT)

Four Dearborn-area men indicted in $1.9M mortgage fraud scheme
DETROIT -- A federal grand jury on Wednesday indicted four Dearborn-area men for allegedly running a $1.9 million mortgage fraud scheme. (Wed, 20 Aug 2008 20:01:46 GMT)

Ailing US mortgage giants face fresh pressure
US mortgage finance giants Fannie Mae and Freddie Mac saw their share prices plummet Wednesday amid heightened concerns about their ability to ride out the credit crisis without government help. (Wed, 20 Aug 2008 20:50:06 GMT)

Mortgage applications drop in week
The volume of applications for U.S. mortgages decreased last week, falling by a seasonally adjusted 1.5 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, stood at 419.3 in the week ending Aug. 15, compared to 425.9 a week earlier, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also fell, down 3.7 percent ... (Wed, 20 Aug 2008 21:05:29 GMT)

Mortgage application volume hits multiyear low
NEW YORK -- Mortgage application volume fell last week to its lowest levels in nearly eight years, the Mortgage Bankers Association said Wednesday. (Wed, 20 Aug 2008 21:45:20 GMT)

FDIC sets mortgage plan for IndyMac borrowers
FDIC sets mortgage plan for IndyMac borrowers. (Wed, 20 Aug 2008 22:16:47 GMT)

How will mortgage crisis affect you?
The future looks pretty bleak for Fannie Mae and Freddie Mac. The bet many investors are making is that there will be a government bailout - wiping out the stocks. And many people ask: What will this do to my mortgage? (Wed, 20 Aug 2008 22:48:17 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. (Thu, 21 Aug 2008 00:31:32 GMT)

Mortgage application volume hits multiyear low
Mortgage application volume fell last week to its lowest levels in more than six years, the Mortgage Bankers Association said today. (Thu, 21 Aug 2008 02:13:25 GMT)

Regulator to help IndyMac mortgage borrowers
WASHINGTON (Reuters) - Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac (IDMC.PK) may soon be able to avoid foreclosure under a program announced on Wednesday by U.S. banking regulators. (Thu, 21 Aug 2008 02:33:13 GMT)

Mortgage application level lowest in nearly eight years
Mortgage applications nationwide dropped last week to their lowest levels in almost eight years, a slump industry... (Thu, 21 Aug 2008 03:02:56 GMT)

CBA cuts fixed rate home loans again
AUSTRALIA'S largest home lender, Commonwealth Bank of Australia, has lowered its fixed rate mortgages for the second time this month but says it cannot guarantee matching a likely rate cut next month by the central bank. (Thu, 21 Aug 2008 03:08:00 GMT)

Real Deal: Buy Newlywed Home Using Wedding Gift Registry
No cash for a down payment on a house? No problem! Michelle Buckman has the Real Deal on a resource for revenue that can get you into your dream home. (Thu, 21 Aug 2008 04:13:19 GMT)

Mortgage Rates for Best Borrowers Rise as Home-Loan Bonds Slump
Aug. 21 (Bloomberg) -- A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years, as yields on bonds guaranteed by Fannie Mae and Freddie Mac increased to almost the highest since 1986 relative to Treasuries. (Thu, 21 Aug 2008 04:47:28 GMT)

Home loan firms' shares dive
NEW YORK -- Investors are betting that time is running out for Fannie Mae and Freddie Mac. (Thu, 21 Aug 2008 05:20:59 GMT)

Borrowers feel fallout from mortgage giants' woes
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. (Thu, 21 Aug 2008 06:27:15 GMT)

Kym Worthy's home is in foreclosure
Wayne County Prosecutor Kym Worthy's home in northwest Detroit is in foreclosure, and she is in the process of selling it to a mortgage company. Worthy issued a statement Wednesday about the foreclosure, which said a short sale for the home was pending acceptance. (Thu, 21 Aug 2008 07:18:02 GMT)

Fears grow of bailout for mortgage giants
Investors are betting that time is running out for Fannie Mae and Freddie Mac. Shares of the mortgage finance companies lost more than a fifth of their value on Wednesday as fears mounted that the companies will soon need government support and any bailout would hang stockholders out to dry. (Thu, 21 Aug 2008 07:21:33 GMT)

Mortgage applications down as few refinance
Mortgage application volume fell last week to its lowest levels in nearly eight years, the Mortgage Bankers Association said Wednesday. (Thu, 21 Aug 2008 07:21:38 GMT)

IndyMac unveils new loan program
PASADENA - IndyMac Federal Bank unveiled a loan-modification program Wednesday that could lower monthly mortgage payments by $709 for thousands of struggling customers. (Thu, 21 Aug 2008 07:50:56 GMT)

Q: Is a home equity loan tax deductible?
A: Typically, the interest you pay each year on a home equity loan can be deducted from the income used to calculate your income tax. (Thu, 21 Aug 2008 08:48:04 GMT)

Mortgage giants may see changes
As policymakers work to ease the strain on mortgage giants Fannie Mae and Freddie Mac, a consensus is emerging that the two companies will have to look substantially different in the long term. Leading figures from across the ideological spectrum say the companies, which were created by Congress to support the housing market, must be restructured so they do not threaten the financial system. (Thu, 21 Aug 2008 10:17:34 GMT)

Mortgage rates take a devilish drop
You would expect people to take advantage of lower mortgage rates, but that's not what happened this week. (Thu, 21 Aug 2008 10:43:52 GMT)

Bankrate: Mortgage Rates Fall But Spreads at 22-Year High
Mortgage rates retreated, with the average conforming 30-year fixed mortgage rate falling to 6.66 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. (Thu, 21 Aug 2008 11:30:00 GMT)

Dallas' Lone Star Funds to buy IKB, German victim of US subprime mortgage crisis
FRANKFURT, Germany - German lender IKB Deutsche Industriebank AG, which has been badly hit by the U.S. subprime mortgage crisis, will be sold to U.S.-based private equity firm Lone Star Funds, the German company's biggest shareholder said Thursday. (Thu, 21 Aug 2008 11:32:57 GMT)

Mortgages: Mortgage rates edge lower as housing continues to weaken
Mortgage rates moved lower this week, according to Freddie Mac’s weekly survey released on Thursday. (Thu, 21 Aug 2008 14:58:26 GMT)

Mortgage Rates for Best Borrowers Rise as Bonds Slump (Update1)
Aug. 21 (Bloomberg) -- A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years, as yields on bonds guaranteed by Fannie Mae and Freddie Mac increased to almost the highest since 1986 relative to Treasuries. (Thu, 21 Aug 2008 15:02:06 GMT)

VA Raising Home Loan Ceilings in Many Areas
Improved Benefits Aid Disabled Veterans in Adapting Homes (Thu, 21 Aug 2008 15:03:00 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. (Thu, 21 Aug 2008 15:28:58 GMT)

Mortgage Rates Fall But Spreads At 22-year High: Bankrate
Mortgage Rates Fall But Spreads At 22-year High: Bankrate (Thu, 21 Aug 2008 15:51:44 GMT)

Home Guaranty Corp eyes P2B from delinquent accounts
State-owned Home Guaranty Corp. (HGC) expects to collect roughly P2 billion worth of home guarantee payments from 4,000 delinquent accounts through the implementation of the Socialized and Low-Cost Housing Loan Restructuring Act of 2008. (Thu, 21 Aug 2008 16:01:41 GMT)

Freddie Mac: 30-year Fixed-rate Mortgage Average Declines
Freddie Mac: 30-year Fixed-rate Mortgage Average Declines (Thu, 21 Aug 2008 16:07:38 GMT)

Home Savings and Loan revises business practices
Home Savings & Loan customers who recently received a letter about a cease and desist order might have been concerned, given the general state of the banking industry. (Thu, 21 Aug 2008 16:56:36 GMT)

Loan restructuring plan to boost HGC collections
MANILA, Philippines - The proposed restructuring program of loans contracted from state housing agencies is expected to boost the collection efficiency of the Home Guaranty Corp. (HGC). (Thu, 21 Aug 2008 17:21:34 GMT)

Lehman's Janulis, McKinney Leave as Mortgage Business Shrinks
Aug. 21 (Bloomberg) -- Lehman Brothers Holdings Inc. 's heads of mortgage origination and securitization are leaving the firm as the business of making home loans and packaging them into bonds shrinks. (Thu, 21 Aug 2008 17:31:36 GMT)

Mortgage scheme earns prison for former Eagle Mountain mayoral candidate
A former attorney and real estate agent who pocketed thousands of dollars in a mortgage fraud scheme was sentenced to prison Thursday morning. (Thu, 21 Aug 2008 17:50:43 GMT)

Mortgage rate fall to 6.47%
Rates on the 30-year fixed mortgage fell from last week, even as the housing market showed more signs of weakness. (Thu, 21 Aug 2008 18:13:56 GMT)

Cleveland woman gets seven years in prison for mortgage fraud
CLEVELAND -- Corritha Wells, 41, of Cleveland, was sentenced to seven years in prison today in Cuyahoga County Common Pleas Court for mortgage fraud. The former loan officer worked for now-defunct Ace Home Loan Inc. The fraud involved 31 houses... (Thu, 21 Aug 2008 19:04:50 GMT)

Most Home-Loan Delinquencies Kept Rising In July
Standard & Poor's said delinquencies of most home-related loans continued to climb in July, as the ratings agency said the 2006 and 2007 issuance years continued to perform poorly. (Thu, 21 Aug 2008 19:17:27 GMT)

30-year mortgage rates dip this week to 6.47%
Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July. Freddie Mac, the mortgage company, reported today... (Thu, 21 Aug 2008 20:03:04 GMT)

U.S. mortgage rates fall slightly in week
WASHINGTON, Aug. 21 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages declined slightly from the previous week, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 21 Aug 2008 20:35:51 GMT)

Mortgage Rates for Best Borrowers Rise as Bonds Slump (Update2)
Aug. 21 (Bloomberg) -- A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years, as yields on bonds guaranteed by Fannie Mae and Freddie Mac increased to almost the highest since 1986 relative to Treasuries. (Thu, 21 Aug 2008 21:16:46 GMT)

Sacramento County Added to Foreclosed Home Loan Program
A state program which offers below-market-rate-loans to first-time home buyers purchasing foreclosed properties is expanding into Sacramento County.   (Thu, 21 Aug 2008 21:46:47 GMT)

Realty Q&A: How to assume the mortgage of a troubled homeowner
How can we find a situation where we could buy, say, a $500,000 home in the Bay Area, just by taking over the payments from a mortgage holder who wishes to get out of his or her obligations? Are there any other alternatives? (Thu, 21 Aug 2008 23:26:54 GMT)

Mortgage rates dip slightly
WASHINGTON — Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6. (Fri, 22 Aug 2008 01:33:55 GMT)

Loan Solutions Works with Clients to Overcome Current Market Problems
The collapse of the subprime sector of the mortgage industry has been brutal for homeowners as well as lenders. With double digit home depreciation, a weakening economy, and record foreclosures, lenders seem to be more willing to renegotiate adjustable home loans. (Fri, 22 Aug 2008 02:26:03 GMT)

Get ready for a mortgage maze
Changes resulting from the credit crisis may make getting a mortgage more time-consuming and costly for many. (Fri, 22 Aug 2008 02:33:23 GMT)

Mortgage rate for 30 years dips
WASHINGTON - Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages dipped to 6.47 percent this week, from 6.52 percent, which had been the rate for the previous three weeks. (Fri, 22 Aug 2008 05:27:49 GMT)

ANZ pledges home loan cut
ANZ Banking Group Ltd has pledged to pass in full to its home loan customers any rate cut the Reserve Bank decides at its next board meeting. (Fri, 22 Aug 2008 05:37:00 GMT)

Lehman squeezed by troubled mortgage market
Because of its smaller size, its significant mortgage exposure and its seeming reluctance to take drastic steps, shares of Lehman Brothers have taken a major beating. (Fri, 22 Aug 2008 06:37:14 GMT)

Mortgage rates 'at 2007 levels'
Mortgage rates are back now to where they were in August 2007 at the onset of the credit crunch, according to website Moneyfacts. (Fri, 22 Aug 2008 06:49:58 GMT)

Mortgage investors fear huge loss
WASHINGTON -- A government rescue of Fannie Mae and Freddie Mac could be costly for scores of investment, banking and insurance companies that hold billions of dollars in preferred shares in the mortgage finance giants. (Fri, 22 Aug 2008 07:21:59 GMT)

30-year mortgage rates fall to lowest level since July 17
Thirty-year, fixed-rate mortgages dipped to 6.47 percent this week, down from 6.52 percent, which had been the rate for the previous three weeks, mortgage giant Freddie Mac reported yesterday. The new rate was the lowest since the week of July 17, when 30-year mortgages stood at 6.26 percent. (Fri, 22 Aug 2008 07:35:11 GMT)

WUC rejects lead-pipe loan plan
The Windsor Utilities Commission has rejected a proposal to create a loan program for residents with lead pipes. (Fri, 22 Aug 2008 07:36:27 GMT)

Mortgage lender cuts maximum loan
The credit crunch is blamed for a Guernsey mortgage lender's decision to reduce the level of loans. (Fri, 22 Aug 2008 11:42:05 GMT)

PRESS RELEASE: Fitch: City Mortgage's Servicer Rating RPS3+
Fitch Ratings-London-22 August 2008: Fitch Ratings has today upgraded Russia- based Gorodskoi Ipothechniy (City Mortgage) Bank's (CMB) Residential Primary Servicer rating to 'RPS3+(RU)' from 'RPS3(RU)'. The rating is based on CMB's ability to administer residential mortgage loans and management of early stage arrears of typically less than 60 days past due. (Fri, 22 Aug 2008 11:48:22 GMT)

PRESS RELEASE: Fitch: City Mortgage's Servicer Rating RPS3+
Fitch Ratings-London-22 August 2008: Fitch Ratings has today upgraded Russia- based Gorodskoi Ipothechniy (City Mortgage) Bank's (CMB) Residential Primary Servicer rating to 'RPS3+(RU)' from 'RPS3(RU)'. The rating is based on CMB's ability to administer residential mortgage loans and management of early stage arrears of typically less than 60 days past due. (Fri, 22 Aug 2008 11:48:22 GMT)

Mortgage rates same as '07
There's good news for those looking for a new mortgage as research from price comparison website Moneyfacts has revealed mortgage rates are back where they were a year ago. (Fri, 22 Aug 2008 12:11:00 GMT)

A tale of three home loan EMIs
"I t is a trauma," says a dejected Brijesh Parmar. And he is not talking about his long, harrowing train commute from Mahim, a western suburb in Mumbai where he works, to Kalyan some 50-odd kilometres where he lives. (Fri, 22 Aug 2008 12:17:12 GMT)

Home Savings and Loan revises business practices
Home Savings & Loan customers who recently received a letter about a cease and desist order might have been concerned, given the general state of the banking industry. (Fri, 22 Aug 2008 14:57:02 GMT)

Rents recede in buy-to-let
Buy-to-let property owners are becoming increasingly concerned about falling rents, just as many need to refinance to more expensive, less flexible mortgage deals. (Fri, 22 Aug 2008 16:16:03 GMT)

Fifth defendant pleads guilty in Provo mortgage scam
The fifth and final defendant in a multimillion dollar mortgage scam in an upscale Provo neighborhood entered a guilty plea to reduced charges in U.S. District Court. (Fri, 22 Aug 2008 17:05:41 GMT)

Grand jury indicts lawyer for mortgage scheme
Authorities allege that, while practicing as a real estate lawyer in Somerville and Medford, Kevin Carey engaged in a scheme called “mortgage stacking” on four residential properties he or his family members owned. (Fri, 22 Aug 2008 17:45:11 GMT)

Mortgage insurer to host foreclosure workshop
Mortgage insurers, who cover lenders when borrowers default, have an intererst in helping people save their homes from foreclosure. (Fri, 22 Aug 2008 18:12:11 GMT)

BoI says no increase in housing loan rates
Bank of India said its home loan rates would not go up even as the bank hiked its benchmark prime lending rate recently. (Fri, 22 Aug 2008 19:01:57 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. (Fri, 22 Aug 2008 19:43:57 GMT)

Rep: Ed McMahon sells home, not to Trump
Ed McMahon is on the move. A spokesman for the former "Tonight" Show sidekick says McMahon has agreed to a deal with a private buyer for his hilltop home. (Fri, 22 Aug 2008 19:52:25 GMT)

Bradford & Bingley's Mortgage Bonds Cut by Moody's (Update3)
Aug. 22 (Bloomberg) -- Bradford & Bingley Plc , the U.K.'s biggest lender to landlords, had the rating on 7 billion pounds ($13 billion) of mortgage bonds downgraded by Moody's Investors Service today. (Fri, 22 Aug 2008 20:50:43 GMT)

One Lender for Life: Appealing, but Elusive
Q Why do most home mortgage lenders sell their mortgages instead of keeping them? I have a problem with negotiating my mortgage deal with one firm for a week, then having my loan sold to another firm that I did not select, and with which I am obliged to deal for as long as 30 years. Is it possible for me to find a lender that will promise not to sell my loan? (Fri, 22 Aug 2008 21:06:49 GMT)

Mortgage Shopping, Incognito
LOS ANGELES -- Even though mortgage lenders have raised the bar on what it takes to qualify for a home loan, shopping for a loan online has gotten easier, if not necessarily less confusing. (Fri, 22 Aug 2008 21:06:59 GMT)

Ed McMahon sells home
LOS ANGELES, California (AP) -- Ed McMahon is on the move. A spokesman for the former "Tonight" Show sidekick says McMahon has agreed to a deal with a private buyer for his hilltop home. (Fri, 22 Aug 2008 21:15:46 GMT)

Southeast Austin street target for home mortgage fraud
It's becoming a common crime that targets people who are working to achieve the American dream -- home mortgage fraud -- and recently it came close to wiping out an entire street in the Montopolis neighborhood. (Fri, 22 Aug 2008 21:45:11 GMT)

New housing law could affect potential buyers, mortgage holders
A new housing bill signed by President Bush could help Wiregrass residents struggling to make their mortgage payment, but could also make it more difficult for some to buy a home. (Sat, 23 Aug 2008 01:51:59 GMT)

Family To Have First Year Of Mortgage Paid By Builder | WBNG-TV Binghamton, NY | Local Top Stories
How would you like to have a new home built. Then, have the builder, pay the first year of your mortgage? That's exactly what happened to a Town of Union Family, which won a special contest today. (Sat, 23 Aug 2008 02:20:25 GMT)

Nationwide Building Society makes changes to mortgage product range
Nationwide Building Society has announced certain changes to its mortgage product range, which include the reduction of fixed rates by up to 0.20%, effective August 28, 2008. (Sat, 23 Aug 2008 02:48:01 GMT)

Restructuring of mortgage loans gets tougher
Stalemate brewing between customers and specialists tasked to keep money rolling in. (Sat, 23 Aug 2008 03:16:47 GMT)

Home sweet loan: Using a 401(k) loan for a down payment
Faced with a real estate market that has tightened up lending standards at a time when home values are dropping, more people are borrowing money from their 401(k) retirement plans to help swing a down payment to buy a home. (Sat, 23 Aug 2008 05:38:02 GMT)

Officials discuss mortgage relief
By Dirk PerrefortStaff WriterDANBURY -- While federal lawmakers hope a mortgage bill recently passed by Congress will help jump-start the real estate market, a local bank official said more assistance is also needed for families in need because of a lost job or illness. (Sat, 23 Aug 2008 06:35:58 GMT)

Union family receives 1 year of free mortgage payments
JOHNSON CITY -- A Town of Union family of three learned Friday it won free mortgage payments for a year as part of a Barden Building Systems contest. (Sat, 23 Aug 2008 06:48:16 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. (Sat, 23 Aug 2008 07:14:00 GMT)

Consumers feel fallout of Fannie, Freddie crisis
Jeff Jaye, a mortgage broker in 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. (Sat, 23 Aug 2008 08:05:55 GMT)

Mortgage rescue plan is causing anxiety
WASHINGTON: A government rescue of Fannie Mae and Freddie Mac could be costly for scores of investment, banking and insurance companies that hold billions of dollars in preferred shares in the mortgage finance giants. (Sat, 23 Aug 2008 08:50:50 GMT)

Paying off your mortgage early is a safe investment
Paying off your mortgage early is not a good way to save for retirement, but these days it looks safer than the stock market and other investments. (Sat, 23 Aug 2008 09:05:54 GMT)

"Liar loans" may prolong mortgage crisis
Losses on loans given to borrowers who lied about their income and assets could total $100 billion, threatening to add another two years to the nation's mortgage crisis. (Sat, 23 Aug 2008 09:06:42 GMT)

Hoskins Heads Home, Hopes For Hornets Win
The last time the two clubs met at the City Ground was in 2004m when Hoskins was trying to carve out a career in football as an 18-year-old at Rotherham. The 22-year-old, who was born in Nottingham suburb Nuthall, returns to his home town club after spending last season on loan there. (Sat, 23 Aug 2008 09:44:21 GMT)

Buffett declines mortgage investment
NEW YORK – Freddie Mac talked to investors this week about possibly buying its stock to raise much-needed capital, but billionaire investor Warren Buffett said he passed on an opportunity to help the troubled mortgage giant. (Sat, 23 Aug 2008 10:14:13 GMT)

That Student Loan, So Hard to Shake
More borrowers may begin to discover the harrowing consequences of reneging on student loans in the current economy. (Sat, 23 Aug 2008 19:33:20 GMT)

That Student Loan, So Hard to Shake
More borrowers may begin to discover the harrowing consequences of reneging on student loans in the current economy. (Sat, 23 Aug 2008 22:20:19 GMT)

Middleboro man charged in mortgage scheme
A local man has been indicted by a grand jury on charges he stole more than $2 million in a mortgage-stacking scheme. (Sun, 24 Aug 2008 02:54:07 GMT)

Lenders cry foul over firm
A scandal-tainted home-loan firm that's using Red Sox knuckleballer Tim Wakefield as a pitchman should be thrown out of the mortgage game, some Bay State lenders say. ... (Sun, 24 Aug 2008 04:12:55 GMT)

Banks put stopper in home equity spigot
Jody Finnell and Tiziano Dalla Gasperina always imagined building their dream retirement home on the Oregon coast. A few years ago, they decided to go for it. (Sun, 24 Aug 2008 04:26:32 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. (Sun, 24 Aug 2008 05:58:57 GMT)

My home's value has fallen sharply. Should I default on the mortgage?
Perhaps you owe more on your mortgage than the declining value of your home. Or maybe you had a setback and can't afford your payments anymore. The temptation to walk away can be strong. However, defaulting on your mortgage can have long-term consequences on your credit rating and ability to get future loans. Let members of the Financial Planning Association of Greater Indiana help you make a ... (Sun, 24 Aug 2008 06:04:18 GMT)

Woman settles mortgage fraud suit
Predatory lenders once victimized her, and she nearly lost her house in foreclosure. But now Erie resident Eloise Woodsbey has a smaller mortgage, a lower interest rate and a better chance to stay in her home at 618 E. Ninth St. (Sun, 24 Aug 2008 06:25:24 GMT)

First time home buyer tips
EAGLE COUNTY, Colorado — 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, 24 Aug 2008 06:49:03 GMT)

When the house won't sell, sell the mortgage
Unable to sell her Aurora town home for what she owes on it, Judith Smith is looking for someone to take over her mortgage. (Sun, 24 Aug 2008 07:14:52 GMT)

Homeowners may be able to refinance mortgages
The nation's mortgage trouble is spreading. (Sun, 24 Aug 2008 07:29:05 GMT)

Appraisers still getting pressure on prices
Have the real estate valuation shenanigans and inflated home appraisals that characterized the boom years disappeared from the marketplace? Are mortgage loan officers and realty agents - even individual home sellers - continuing to influence or attempting to... (Sun, 24 Aug 2008 07:31:02 GMT)

30-year fixed rates drop a smidgen
Rates on 30-year mortgages fell slightly last week to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages dipped to 6.47 percent last week, down from 6.52 percent, which had been the rate... (Sun, 24 Aug 2008 07:31:43 GMT)

HOME BRIEFS
Free workshop to help first-time home buyers A free workshop for first-time home buyers will be offered from 9 a.m. to 1 p.m. Saturday at Homes on the Hill, 12 S. Terrace Ave. (Sun, 24 Aug 2008 07:49:25 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." (Sun, 24 Aug 2008 07:51:52 GMT)

30-year mortgage rates drop
WASHINGTON – Rates on 30-year mortgages fell slightly last week to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.47 percent last week, down from 6.52 percent, which had been the rate for the previous three weeks. (Sun, 24 Aug 2008 10:12:21 GMT)

UAE mortgage market to reach Dhs64bn over the next three years
The UAE's mortgage market will leap from Dhs20bn by the end of this year to reach Dhs64bn over the next three years, according to a recent market study, with Sharia-compliant house financing making up more than 60% of this figure. (Sun, 24 Aug 2008 10:59:28 GMT)

UAE mortgage market to reach AED 64b over the next 3 years
UAE mortgage market to reach AED 64b over the next 3 years (Sun, 24 Aug 2008 11:15:44 GMT)

New mortgage law boosts investor confidence, says Engel & Voelkers
Engel & Voelkers, a German-based international real estate brand, welcomes the new mortgage law issued by the Dubai Government. (Sun, 24 Aug 2008 12:44:27 GMT)

Crunch time as mortgage brokers flee
THE global credit crunch has plunged the mortgage broking industry into turmoil, with a third of all brokers expected to flee the industry by the end of the year. (Sun, 24 Aug 2008 14:00:00 GMT)

U.S. student loan failures grow
Lenders who make loans guaranteed by the U.S. government can more easily take steps against borrowers than they can with other kinds of unsecured consumer debts. (Sun, 24 Aug 2008 15:07:43 GMT)

Financial Focus: Shorter mortgage saves interest, loses tax and investment options
Q: Is a 15-year mortgage "better" than a 30-year mortgage (i.e. saved interest)? (Sun, 24 Aug 2008 16:25:45 GMT)

The Best Mortgage Deals Around
Sure, it's tough to get a mortgage today. But the Veterans Administration and FHA can help. (Sun, 24 Aug 2008 17:40:35 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, 24 Aug 2008 19:44:17 GMT)

Subprime-mortgage crisis in third stage
The subprime-mortgage problem has entered a third phase. The first phase, needless to say, involved the decline in housing prices in the United States that crippled many homeowners' ability to repay their loans. Subprime lending schemes were based on the assumption that housing prices would continue to rise and interest rates would stay high. The collapse of both conditions created a sharp ... (Sun, 24 Aug 2008 21:07:40 GMT)

Indiana Sues Large Mortgage Lender
Indiana has sued Countrywide Home Loan Inc., claiming deceptive and misleading practices in thousands of loans issued in the state. (Sun, 24 Aug 2008 22:14:30 GMT)

Pistons guard: Duplicitous or dupe in mortgage fraud?
Is Lindsey Hunter, the veteran guard of the Detroit Pistons, a victim of mortgage fraud? Or is he a perpetrator? That’s what twin investigations -- one by Wayne County, the other by the FBI -- want to determine. (Sun, 24 Aug 2008 22:29:28 GMT)

Saler: Subprime mortgage trauma is similar to S&L crisis
If you think the subprime mortgage horror show looks disturbingly familiar, it’s because you’ve probably seen this movie before. The last time the U.S. banking system hit the skids was in the late 1980s and early 1990s, when the savi... (Sun, 24 Aug 2008 23:49:42 GMT)

Local family wins free mortgage for a year
A Town of Union Family is getting a new lease on life...well better make that a new mortgage. (Mon, 25 Aug 2008 00:35:23 GMT)

UAE mortgage market set to reach Dh64 billion
DUBAI - The mortgage market in the UAE is poised to reach Dh64 billion over the next three years, posing a real challenge to the banking sector and home financiers in extending loans to property investors as more projects are delivered. (Mon, 25 Aug 2008 00:53:17 GMT)

Australian Mortgage Bonds Offer World's Best Value, Pimco Says
Aug. 25 (Bloomberg) -- Australia's mortgage-backed bonds are one of the most attractive buys ``on the planet,'' according to Rob Mead , head of Asia-Pacific credit at Pacific Investment Management Co. in Sydney. (Mon, 25 Aug 2008 01:20:22 GMT)

Indiana Sues Countrywide
Indiana has sued Countrywide Home Loan Inc., claiming deceptive and misleading practices in thousands of loans issued in the state. (Mon, 25 Aug 2008 01:52:37 GMT)

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