Mortgage News Aug 2008

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Can mortgage be deducted on two houses?
Dear Tax Talk, I currently own a house and I'm paying the mortgage payment. I wanted to buy another house for my retired parents to live in. Both houses are going to be in my wife's and my name. (Thu, 28 Aug 2008 10:44:26 GMT)

Bankrate: Mortgage Rates Dip Again
Mortgage rates were lower for the second week in a row, with the average conforming 30-year fixed mortgage rate falling to 6.60 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.39 discount and origination points. (Thu, 28 Aug 2008 11:30:00 GMT)

Bankrate: Mortgage Rates Fall Again In Latest Week
Bankrate: Mortgage Rates Fall Again In Latest Week (Thu, 28 Aug 2008 12:48:08 GMT)

Mortgage modifications reach record in July
The nation's mortgage companies modified a record 192,034 loans last month, setting up repayment plans or changing terms to avert foreclosure, an industry survey showed. ... (Thu, 28 Aug 2008 14:31:07 GMT)

Financial Stocks: Bond and mortgage insurers jump on MBIA deal
Shares of mortgage and bond insurers rally Thursday on news that MBIA Inc. is in a deal to reinsure billions of dollars in municipal bonds, showing the embattled bond insurer is able to attract new business despite the credit crunch. (Thu, 28 Aug 2008 14:55:15 GMT)

When A Mortgage Loan Is Necessary For Your Aventura Home Purchase
If you think that it's impossible to purchase an Aventura home with your limited budget, then you are in for a shocking surprise. Actually, there is a way to boost your funding for a home acquisition without putting you into a financial hurdle paying for it -- and this is through mortgage loans. (Thu, 28 Aug 2008 15:22:53 GMT)

Freddie Mac: 30-yr Mortgage Rate Eases On Weak Economy
Freddie Mac: 30-yr Mortgage Rate Eases On Weak Economy (Thu, 28 Aug 2008 15:32:06 GMT)

King County takes big loss on mortgage investments
The King County Investment Pool says it will get back only $62 million of the $100 million it put into two mortgage-backed investments that defaulted. (Thu, 28 Aug 2008 16:55:42 GMT)

Mortgage Originator Occupation
1154. Hey folks, I am trying to get involved with the Mortgage scene and found a great course that everyone might enjoy. I believe the course name is "Commissioned Mortgage Originator, Processor and Marketing Yourself Program" offered by going to www.go2worldclass.com . I am young and trying to get my feet wet and have found this as a good kick start for this. (Thu, 28 Aug 2008 17:03:17 GMT)

Lehman May Accelerate Mortgage Asset Sales
Fund Invests $44M in Texas, Ohio Student Housing August 27, 2008 By Gail Kalinoski, Contributing Editor -- The Place/BV Student Housing Fund L.L.C. continues to make investments in student housing facilities across the United States, with two more announced today. (Thu, 28 Aug 2008 17:23:18 GMT)

Fitch Downgrades 3 Classes of Enhanced Mortgage Backed Securities Fund I, Ltd.
Fitch Ratings has downgraded three classes of notes issued by Enhanced Mortgage Backed Securities (Thu, 28 Aug 2008 19:34:51 GMT)

Fitch Downgrades 3 Classes of Enhanced Mortgage Backed Securities Fund I, Ltd.
Fitch Ratings has downgraded three classes of notes issued by Enhanced Mortgage Backed Securities Fund I, Limited (EMBS I) as follows: (Thu, 28 Aug 2008 19:44:57 GMT)

30-year mortgages fall to lowest level in 6 weeks
Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dropped to 6.40 percent this week, down from 6.47 percent last week. (Thu, 28 Aug 2008 20:10:29 GMT)

Federal Home Loan Bank of San Francisco Awards $500,000 in Predevelopment Grants for Arizona, California, and Nevada
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today announced $500,000 in 2008 Access to Housing and Economic Assistance for Development Program grants. The awards will help 15 of the Bank's member financial institutions support 20 economic development and affordable housing projects during the conception and early development phases. (Thu, 28 Aug 2008 20:56:00 GMT)

30-year mortgages fall to lowest level in 6 weeks
Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dropped to 6.40 percent this week, down from 6.47 percent last week. (Thu, 28 Aug 2008 21:03:09 GMT)

Federal Home Loan Bank of San Francisco Awards $500,000 in Predevelopment Grants for Arizona, California, and Nevada
The Federal Home Loan Bank of San Francisco today announced $500,000 in 2008 Access to Housing and (Thu, 28 Aug 2008 21:05:38 GMT)

U.S. Mortgage Meltdown Slams Bank Of China
Bank of China was the most vulnerable of its peers, thanks to the U.S. subprime mortgage crisis. (Thu, 28 Aug 2008 21:14:38 GMT)

Why consider refinancing?
The interest rate on your mortgage is tied directly to how much you pay on your mortgage each month--lower rates usually mean lower payments. You may be able to get a lower rate because of changes in the market conditions or because your credit score has improved. (Thu, 28 Aug 2008 22:12:29 GMT)

Press Release
The Federal Reserve Board on Thursday announced the launch of an online resource to help consumers make informed choices when refinancing a home loan. (Thu, 28 Aug 2008 22:12:49 GMT)

Mortgage rates fall to lowest level in a month
Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. (Thu, 28 Aug 2008 22:13:09 GMT)

Fitch Rates $151MM PHH Mortgage Trust, Series 2008-CIM2
Fitch rates PHH Mortgage Trust, series 2008-CIM2 residential mortgage pass-through certificates, as (Thu, 28 Aug 2008 22:34:57 GMT)

Fitch Rates $151MM PHH Mortgage Trust, Series 2008-CIM2
Fitch rates PHH Mortgage Trust, series 2008-CIM2 residential mortgage pass-through certificates, as follows: (Thu, 28 Aug 2008 22:45:37 GMT)

Federal Home Loan Bank supports projects in Phoenix, Ajo
The Federal Home Loan Bank of San Francisco is awarding $500,000 in Access to Housing and Economic Assistance for Development Program grants to help 15 of its member institutions support economic development and affordable housing projects. (Thu, 28 Aug 2008 23:04:54 GMT)

Darling, Flint May Announce U.K. `Mortgage Rescue,' Times Says
Aug. 29 (Bloomberg) -- Chancellor of the Exchequer Alistair Darling and Housing Minister Caroline Flint are proposing next week to announce emergency measures for the U.K. mortgage market, the London-based Times reported, without saying where it got the information. (Thu, 28 Aug 2008 23:53:00 GMT)

Sub-prime borrowers face another sharp rise in mortgage payments
Sub-prime mortgage holders are yet to feel the full force of the credit crunch, after a survey revealed that their repayment rates had risen by 2.55 percentage points this year. (Fri, 29 Aug 2008 00:16:54 GMT)

Cairns Lockie Mortgage Commentary 29 August 2008
Welcome to the fifteenth fortnightly Cairns Lockie Mortgage Commentary for 2008. We aim to keep you informed on developments at Cairns Lockie, Home Loans and the mortgage market in general. (Fri, 29 Aug 2008 00:36:17 GMT)

Abbey latest to cut mortgage rates
Abbey has become the latest lender to announce it was cutting its mortgage rates in a further sign that competition is returning to the market. The group is shaving 0.2% off its two-year fixed rate deal for people borrowing 70% of their home's value and 0.1% off its three-year fixed rate loan. (Fri, 29 Aug 2008 00:42:46 GMT)

CBA to buy 33% Aussie Home Loans stake
Commonwealth Bank of Australia Ltd (CBA) will buy a 33 per cent interest in mortgage broker Aussie Home Loans. CBA chief executive Ralph Norris says the minority stake was a strategic investment and will give the country's largest home loan lender a stronger foothold in the mortgage market. (Fri, 29 Aug 2008 02:05:04 GMT)

Discrimination Suit Against Subprime Mortgage Lender Remanded to State Court
Subprime mortgage lender Option One Mortgage Corp. and former parent company H&R Block will face a groundbreaking discrimination case over its lending practices to blacks and Latinos in Massachusetts state court instead of its preferred venue, federal court. The Massachusetts attorney general's office filed the lawsuit against Option and H&R Block for allegedly selling predatory loan products to ... (Fri, 29 Aug 2008 02:24:09 GMT)

Let's Chat Today
Join me today at noon for a live online discussion about mortgages. The current housing market has sidelined many would-be buyers, who are worried they'll buy before the market hits bottom. Meanwhile, mortgages rates are rising and qualifying for a mortgage is more difficult. (Fri, 29 Aug 2008 03:02:50 GMT)

National business in brief: Mortgage rates fall
Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. (Fri, 29 Aug 2008 04:29:43 GMT)

Discrimination Suit Against Subprime Mortgage Lender Remanded to State Court
Subprime mortgage lender Option One Mortgage Corp. and former parent company H&R Block will face a groundbreaking discrimination case over its lending practices to blacks and Latinos in Massachusetts state court instead of its preferred venue, federal court. (Fri, 29 Aug 2008 07:01:56 GMT)

FHA raises mortgage insurance fee to 1.75%
Borrowers who take out government-insured mortgages will have to pay higher fees under new rules announced this week. Effective Oct. 1, the Federal Housing Administration will raise its mortgage insurance fee to 1.75 percent for a new mortgages and many... (Fri, 29 Aug 2008 07:26:54 GMT)

Mortgage rate drops to 6.40%
WASHINGTON - Interest rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dropped to 6.40 percent this week, down from 6.47 percent last week. (Fri, 29 Aug 2008 10:09:30 GMT)

Mortgage lending growth at 20-year low
Growth in mortgage lending dropped below 10% for the first time in more than 20 years in July, according to figures from the Central Bank. The bank said the annual rate of growth fell to 9.6%, the lowest since the end of 1987. The amount of mortgage lending increased by €964m in the month. (Fri, 29 Aug 2008 10:11:41 GMT)

Mortgage fraud adds to Bradford & Bingley's woes
Bradford & Bingley plunged into a £26.7m loss in the first half of the year after it was hit by a rise in mortgage arrears and fraud. By Phillip Inman (Fri, 29 Aug 2008 10:29:12 GMT)

Bradford & Bingley reveals loss as mortgage arrears surge
Troubled U.K. mortgage lender Bradford & Bingley says Friday it swung to a loss in the first half of the year after further asset write-downs and a sharp rise in bad-debt losses. (Fri, 29 Aug 2008 11:09:52 GMT)

All News... Fixing the problem of a new mortgage deal
In the next few weeks, £30billion worth of cheap fixed-rate mortgage deals are due to expire, leaving borrowers with the prospect of higher rates. (Fri, 29 Aug 2008 12:00:26 GMT)

Popular selling US mortgage assets to Goldman
Puerto Rican bank Popular Inc. said Friday it will sell mortgages and servicing assets from its U.S. mortgage subsidiary Popular Financial Holdings to affiliates of Goldman Sachs Group Inc. (Fri, 29 Aug 2008 12:23:04 GMT)

Maine mortgage broker's murder conviction upheld
Maine's highest court has denied the appeal of a Portland mortgage broker who was convicted in the fatal shooting of friend after a night of heavy drinking and drug use. (Fri, 29 Aug 2008 13:03:16 GMT)

GMAC spent $740K lobbying government in 2Q
Automotive and mortgage lender GMAC LLC spent $740,000 lobbying in the second quarter on legislation related to mortgage lending, banking and other issues, according to a recent disclosure report. (Fri, 29 Aug 2008 14:53:37 GMT)

Popular Selling U.S. Mortgage Unit Assets To Goldman Sachs
Popular Selling U.S. Mortgage Unit Assets To Goldman Sachs (Fri, 29 Aug 2008 15:04:41 GMT)

Q: Can points from a refinanced mortgage be deducted on my taxes?
A: If the points were paid solely to refinance the mortgage, they can be deducted as mortgage interest but must be spread out over the life of the loan. (Fri, 29 Aug 2008 15:17:25 GMT)

Popular shares soar on sale of mortgage assets
Shares of Popular Inc. jumped Friday after the Puerto Rico-based bank said it plans to sell $1.17 billion of U.S. mortgage assets to affiliates of Goldman Sachs Group Inc. (Fri, 29 Aug 2008 16:29:31 GMT)

Loan closer draws five-year sentence in KC mortgage fraud case
A federal judge has ordered a Lenexa man to serve five years in federal prison and pay a $2,500 fine for his role in a high-profile mortgage fraud case. (Fri, 29 Aug 2008 16:33:29 GMT)

Heartland Bank touts mortgages for home repairs
Heartland Bank is touting an underused program that allows buyers to finance up to $35,000 for home repairs in addition to the purchase price. The mortgage allows loans to $5,000 to $35,000 above the purchase price for repairs, including interior and exterior painting, replacement of flooring, roof or gutter replacement and heating, ventilation and air conditioning system upgrades. The loan ... (Fri, 29 Aug 2008 16:47:36 GMT)

Loan vs. credit
Home equity line of credit or loan what s best for you?Life, as they say, is filled with difficult choices. (Fri, 29 Aug 2008 16:52:02 GMT)

Online resources for mortgage consumers - Federal Reserve
The Federal Reserve Board on Thursday announced the launch of an online resource to help consumers make informed choices when refinancing a home loan. "A Consumer’s Guide to Mortgage Refinancing," which is available at http://www.federalreserve.gov/pubs/refinancings/default.htm, contains useful tips and answers to frequently asked questions about the refinancing process. The information ... (Fri, 29 Aug 2008 17:50:51 GMT)

Home loan: How to cope with rising EMIs
How badly is the EMI (equated monthly instalment) of your home loan messing up your budget? Over the last four years, the interest rate on home loans has risen from the bottom of about 7.75 per cent in 2004 to about 12.75 per cent now for existing customers. (Fri, 29 Aug 2008 17:53:51 GMT)

Fitch Rates Lehman Mortgage Trust Series 2008-6
Fitch rates Lehman Mortgage Trust's residential mortgage pass-through certificates, series 2008-6, as follows: (Fri, 29 Aug 2008 18:16:14 GMT)

Mortgage Bankers Association president to give update on industry
The Greater Cincinnati Mortgage Bankers Association will host the national organization’s Chairman-Elect David Kittle for a presentation to its members and the public Sept. 18 at the Crown Plaza Hotel in Blue Ash. (Fri, 29 Aug 2008 18:18:29 GMT)

Mortgage rates drop again
Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. (Fri, 29 Aug 2008 19:42:50 GMT)

Woman faces federal charges in $24 million mortgage scheme
Federal law enforcement agents have charged Magile Cruz, who has numerous aliases, in a $24 million mortgage fraud scheme involving 79 properties in Miami-Dade and Broward counties. (Fri, 29 Aug 2008 20:30:49 GMT)

Woman faces federal charges in $24 million mortgage scheme
Federal law enforcement agents have charged Magile Cruz, who has numerous aliases, in a $24 million mortgage fraud scheme involving 79 properties in Miami-Dade and Broward counties. (Fri, 29 Aug 2008 20:37:40 GMT)

Popular shares soar on sale of mortgage assets
Shares of Popular Inc. jumped Friday after the Puerto Rico-based bank said it plans to sell $1.17 billion of U.S. mortgage assets to affiliates of Goldman Sachs Group Inc. (Fri, 29 Aug 2008 21:03:12 GMT)

Color of Money Book Club
Personal finance columnist Michelle Singletary hosted an online discussion with Carolyn Warren, author of "Mortgage Rip-Offs and Money Savers" (John Wiley & Sons), on Thursday, Aug. 28 at Noon ET. (Fri, 29 Aug 2008 21:31:40 GMT)

Federal Home Loan Bank of San Francisco Releases July 2008 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced August 29, 2008, that the 11th District Monthly Weighted Average Cost of Funds Index for July 2008 is 2.698%. The index for June 2008 was 2.829%. (Fri, 29 Aug 2008 22:25:00 GMT)

Federal Home Loan Bank of San Francisco Releases July 2008 Cost of Funds Index
The Federal Home Loan Bank of San Francisco announced August 29, 2008, that the 11th District Monthly (Fri, 29 Aug 2008 22:36:31 GMT)

Protect Your Interests While Lending a Helping Hand
Q I inherited a home from a family member, and it has no mortgage. The house is in California, and I am in Georgia. The caretaker, who was instrumental in taking care of my elderly aunt before her death, wants the house but would not qualify for the mortgage based on her income and assets. (Sat, 30 Aug 2008 00:22:23 GMT)

Action Against Mortgage Broker Proceeds
A federal judge has declined to dismiss a lawsuit brought by a New York couple against a mortgage broker they claim was working in tandem with the orchestrator of a Ponzi scheme who is serving prison time for stealing more than $11 million from investors. The case is part of a lengthy and complex civil litigation that arose after the criminal investigation of Peter Dawson, a financial adviser ... (Sat, 30 Aug 2008 01:53:40 GMT)

Viral Video: News Anchor Answers Phone On Air
Understand the signs of mental illness and you can learn the best ways to treat whatever problems you may have. 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, 30 Aug 2008 01:55:15 GMT)

Former Austin resident sentenced for mortgage fraud
Former Austinite Cornelius Robinson has been sentenced to more than 27 years in prison, for a mortgage fraud scheme. Federal prosecutors said he bought houses in the Austin and San Antonio areas and resold them to a "straw buyer" at a higher price. (Sat, 30 Aug 2008 01:56:39 GMT)

Lawyer admits taking $2.5 million from clients
PROVIDENCE — A Cranston lawyer who handles real-estate closings has admitted to stealing more than $2.5 million from homeowners who were refinancing or buying new homes, the state’s chief disciplinary counsel said yesterday. (Sat, 30 Aug 2008 03:32:00 GMT)

Why haven't mortgage rates dropped this year?
The Federal Reserve began to slash short-term interest rates almost a year ago. Yet we have higher mortgage rates now than we had then. What gives? (Sat, 30 Aug 2008 04:08:51 GMT)

Why haven't mortgage rates dropped along with Fed cuts?
The Federal Reserve began to slash short-term interest rates almost a year ago. Yet we have higher mortgage rates now than we had then. What gives? No single answer explains why some rates have fallen while fixed mortgage rates have climbed from an average of 6.43 percent a year ago to 6. ... (Sat, 30 Aug 2008 04:20:01 GMT)

Agency warns U.S. thrifts about changing loan terms
WASHINGTON — After a rash of consumer complaints, the federal agency charged with regulating savings-and-loan institutions has issued guidance warning lenders they could not arbitrarily change the terms of home equity loans. The Office of Thrift Supervision issued a six-page letter of guidance to the institutions, called thrifts, spelling out their obligations on home equity lines of credit, ... (Sat, 30 Aug 2008 05:19:53 GMT)

Kenneth Harney: Despite decline in home sales, loan fraud accelerating
WASHINGTON — You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. (Sat, 30 Aug 2008 07:29:30 GMT)

TODAY’S MONEY-SAVING TIP: Pay more on mortgage payments
— STAFF REPORT Try to pay more than the minimum on your mortgage payment and save a lot. You can knock seven years off the life of your note by each year paying one additional principle and interest payment, which is your mortgage payment minus any escrow payments. (Sat, 30 Aug 2008 08:13:04 GMT)

Take years off mortgage by making extra payments
Try to pay more than the minimum on your mortgage payment and save a lot. You can knock seven years off the life of your note by each year paying one additional principle and interest payment, which is your mortgage payment minus any escrow payments. (Sat, 30 Aug 2008 09:00:05 GMT)

Equity loan can provide 75 to 80 percent of home's value
Q. How much can I borrow with a home equity loan? A. Assuming the borrower has the wherewithal to make the payments, most lenders will extend a home equity loan as long as all loans against the property combined do not exceed 75-80 percent of the property's market value. (Sat, 30 Aug 2008 09:40:13 GMT)

Kansas Title Officer Sentenced for $16 Million Mortgage Fraud Conspiracy
This is the sixth co-defendant sentenced in the mortgage fraud scheme. Seven co-defendants pleaded guilty and two were convicted at trial. (Sat, 30 Aug 2008 09:52:00 GMT)

British banks on hook for mortgage fraud
LONDON, Aug. 30 (UPI) -- British banks may be on the hook for at least $12.7 billion in fraudulent mortgage loans given to drug gangsters and other scammers, industry observers say. (Sat, 30 Aug 2008 13:29:28 GMT)

British banks on hook for mortgage fraud
British banks may be on the hook for at least $12.7 billion in fraudulent mortgage loans given to drug gangsters and other scammers, industry observers say. The numbers came to light this week as mortgage lender Bradford & Bingley disclosed it had been forced to take a $33 million charge against earnings for the first six months of 2008 thanks to loans to criminal gangs and other perpetrators of ... (Sat, 30 Aug 2008 13:37:45 GMT)

Home loan rate cut at last
AUSTRALIA'S most powerful non-bank home loan provider has become the first lender to cut interest rates in seven years - throwing down a challenge to banks. (Sat, 30 Aug 2008 14:00:00 GMT)

Home loan rate cut at last
AUSTRALIA'S most powerful non-bank home loan provider has become the first lender to cut interest rates in seven years - throwing down a challenge to banks. (Sat, 30 Aug 2008 14:00:00 GMT)

Home loan rate cut at last
AUSTRALIA'S most powerful non-bank home loan provider has become the first lender to cut interest rates in seven years - throwing down a challenge to banks. (Sat, 30 Aug 2008 14:00:00 GMT)

Wizard cuts home loan rate
WIZARD Home Loans has become the first lender to cut its variable interest rate in seven years. (Sat, 30 Aug 2008 14:06:00 GMT)

Home loan rates cut - at last
NON-bank lender Wizard Home Loans has cut its mortgage rate by 0.25 per cent, and says competition for customers is back. (Sat, 30 Aug 2008 15:05:00 GMT)

Home loan rates cut - at last
NON-bank lender Wizard Home Loans has cut its mortgage rate by 0.25 per cent, and says competition for customers is back. (Sat, 30 Aug 2008 15:05:00 GMT)

Wizard cuts home loan rate
WIZARD Home Loans has become the first lender to cut its variable interest rate in seven years. (Sun, 31 Aug 2008 00:10:00 GMT)

Mortgage hopes hit by Darling
THE TREASURY has snubbed calls from Britain’s lenders for direct government intervention to kick-start the mortgage market. (Sun, 31 Aug 2008 00:19:52 GMT)

Austin man sentenced to 27 years for mortgage fraud
Former Austinite Cornelius Robinson has been sentenced to more than 27 years in prison, for a mortgage fraud scheme. Federal prosecutors said he bought houses in the Austin and San Antonio areas, and resold them to accomplices at a higher price. (Sun, 31 Aug 2008 04:26:39 GMT)

Home loan rates cut - at last
TREASURER Wayne Swan has welcomed Wizard Home Loans' mortgage rate cut, and says other banks must do the same. (Sun, 31 Aug 2008 05:00:00 GMT)

Fort Worth Zoo's Komodo dragon is headed home
Faust is coming home. The popular Komodo dragon will return to the Fort Worth Zoo on Friday after spending two years at Chicago’s Lincoln Park Zoo. Faust was supposed to be on loan to Chicago for 11 months, but his visit was extended because the Texas lizard was so popular with visitors. Chicago zoo officials made him the centerpiece of the aquarium’s "Lizards and the Komodo King" exhibit, ... (Sun, 31 Aug 2008 05:09:34 GMT)

Ways to Wealth: Get early start to head off trouble of overdue mortgage
Jean: A friend of mine is getting behind on her mortgage. I know she is in desperate shape. I have read that mortgage companies want to help troubled home owners. Can you give me some specific information I can give to my friend? She is so upset; I may have to make the calls to the mortgage company for her. (Sun, 31 Aug 2008 05:14:47 GMT)

Homeowner fraud exacerbates mortgage crisis
Some homeowners tempted to buy a more affordable house in a declining market have committed fraud to ditch the supersized mortgage they no longer want. (Sun, 31 Aug 2008 05:35:51 GMT)

National Business
An interest rate cut by Australia's central bank this week will significantly reduce the number of Australians experiencing mortgage stress, an industry survey has found. (Sun, 31 Aug 2008 05:49:54 GMT)

Business
An interest rate cut by Australia's central bank this week will significantly reduce the number of Australians experiencing mortgage stress, an industry survey has found. (Sun, 31 Aug 2008 05:50:04 GMT)

Get a mortgage rate quote online
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. (Sun, 31 Aug 2008 07:05:39 GMT)

Harney: Loan fraud rises despite downturn in housing
You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. Wrong. A benchmark quarterly study released Aug. 25 by the mortgage industry's principal compiler of fraud reports, the Mortgage Asset Research Institute (MARI), found that the number of cases jumped by 42 percent between the second ... (Sun, 31 Aug 2008 07:08:53 GMT)

Mortgage fraud up sharply
Websites hawking fake documents facilitate loan scams You might assume that with home purchases and new mortgage volume off by 30% or more in many markets during the last year, loan fraud would be down as well. (Sun, 31 Aug 2008 07:14:29 GMT)

Fees due after canceled refinance
I was going to refinance my loan on my house. The day I was going to sign the closing papers, I asked again what the loan amount and monthly payment would be. It was higher than what I was told originally, so I canceled the refinance. My appraisal fee was going to be free, but now they're saying I have to pay it since the loan was not closed. But the only reason I did not close was because the ... (Sun, 31 Aug 2008 07:23:19 GMT)

Mortgage rates rise to make up for greater risk assumed by investors
Mortgage rates aren't what they used to be - and not just because they're higher. (Sun, 31 Aug 2008 07:23:49 GMT)

Mortgage fraud still rampant across U.S.
You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. Wrong. A benchmark quarterly study released Monday by the mortgage industry's principal... (Sun, 31 Aug 2008 07:24:50 GMT)

Mortgage rates decrease for 2nd week in row
Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages dropped to 6.4 percent last week, down from 6.47 percent... (Sun, 31 Aug 2008 07:25:00 GMT)

Florida among states with rampant mortgage fraud
You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. (Sun, 31 Aug 2008 07:26:19 GMT)

Homeowners, beware: Mortgage identity theft is a growing concern
Though no local cases have been reported, mortgage identity theft is a growing concern Identity thieves are eyeing a new source of income: stealing the good names of property owners with untapped equity in their homes and turning that equity into fairly easy-to-get loans.Often, the stolen identification is used to obtain home equity lines of credit over the Internet. With a checkbook or credit ... (Sun, 31 Aug 2008 07:34:06 GMT)

Determining whether to rent or sell to caregiver is key issue
Q: I inherited a home from my aunt. Her caregiver wants the house but wouldn't qualify for the mortgage based on her income. (Sun, 31 Aug 2008 07:53:34 GMT)

30-year loan rates fall to 6-week low
WASHINGTON – Rates on 30-year mortgages fell for the second straight week, declining to the lowest level in more than a month. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dropped to 6.40 percent last week, down from 6.47 percent the previous week. (Sun, 31 Aug 2008 10:10:44 GMT)

Home loan practices probed
Home foreclosures and mortgage fraud complaints continue to increase as state officials say they're investigating mortgage activity in the Upstate and preparing legislation that will bring murkier parts of the mortgage lending business out of the shadows for the first time. (Sun, 31 Aug 2008 11:16:07 GMT)

Rate to cut mortgage stress
AN INTEREST rate cut by the Reserve Bank this week will significantly reduce the number of households suffering mortgage stress, a survey finds. (Sun, 31 Aug 2008 14:00:00 GMT)

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