Mortgage News Sep 2008

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O.C. 7th riskiest place to make home loan
Orange County rises two slots to No. 7 in national ranking of riskiest places to issue a mortgage. (Thu, 04 Sep 2008 23:49:29 GMT)

Mortgage scam case nets third guilty plea
A Palm Beach County real estate investor who was videotaped describing a mortgage scam to an undercover FBI agent has pleaded guilty to one count of conspiracy to commit bank fraud and one count of mail fraud. (Fri, 05 Sep 2008 01:48:57 GMT)

Southmoreland to save $346,000 by refinancing bond
The Southmoreland School Board voted unanimously Thursday to refinance $9,505,000 in bonds from 1998, offering the district an estimated $346,000 in savings. (Fri, 05 Sep 2008 04:14:16 GMT)

National mortgage rates continue their decline
Mortgage rates are falling again. (Fri, 05 Sep 2008 07:13:40 GMT)

ING Vysya sees 20-25 pct loan growth in FY09
KOLKATA (Reuters) - ING Vysya Bank is aiming at 20-25 percent loan growth and 30-35 percent deposit growth in 2008/09, its chief executive officer Vaughn Richtor told reporters on Friday. (Fri, 05 Sep 2008 07:17:12 GMT)

City seek loan switch for Caicedo
Manchester City want to arrange a loan move for misfit striker Felipe Caicedo after a prospective move to Hertha Berlin collapsed on Monday. (Fri, 05 Sep 2008 08:35:26 GMT)

ING Vysya sees 20-25 pct loan growth in FY09
KOLKATA (Reuters) - ING Vysya Bank is aiming at 20-25 percent loan growth and 30-35 percent deposit growth in 2008/09, a top official said on Friday. (Fri, 05 Sep 2008 08:47:04 GMT)

Man City hope to ship misfit Ecuador striker Caicedo out on loan
Manchester City will look to arrange a loan move for misfit striker Felipe Caicedo. The Ecuador international has struggled badly since arriving at Eastlands last January and seemed set to relaunch his career in Germany with Bundesliga outfit Hertha Berlin. (Fri, 05 Sep 2008 10:31:40 GMT)

Killed by the credit crunch: Father hanged himself after being 'harassed' for failing to keep up with his mortgage
A father hanged himself because he couldn't keep up with his mortgage payments was a tragic victim of the credit crunch. (Fri, 05 Sep 2008 10:44:19 GMT)

Columbia Bancorp to close mortgage business, cut jobs
Columbia Bancorp , the holding company for Columbia River Bank, said it plans to close its mortgage banking division, affecting about 39 jobs, as it strives to cut costs amid a difficult mortgage market. (Fri, 05 Sep 2008 10:56:52 GMT)

Columbia Bancorp To Close Mortgage Banking Unit
Columbia Bancorp To Close Mortgage Banking Unit (Fri, 05 Sep 2008 11:17:06 GMT)

Mortgage market tightens further
The recent era of easy mortgages for resort real estate is over, local bankers and mortgage brokers say, and the tighter money market is having a negative effect on the Aspen economy. (Fri, 05 Sep 2008 11:18:48 GMT)

Columbia Bancorp to close mortgage banking business; to incur charge in Q3 - Update
(RTTNews) - Friday, before the bell, Columbia Bancorp (CBBO), the financial holding company for Columbia River Bank, affected by the current banking environment, announced its intention to close Columbia River Bank's Mortgage Banking Team, and said it would incur severance-related expenses in the third quarter. (Fri, 05 Sep 2008 12:02:03 GMT)

Columbia Bancorp shuts mortgage business
Columbia Bancorp, the holding company of Columbia River Bank, said Friday it plans to exit the mortgage business and eliminate nearly 75 jobs in response to the uncertain banking environment. (Fri, 05 Sep 2008 13:03:18 GMT)

U.S. foreclosures, mortgage delinquencies hit record high
CHICAGO (MarketWatch) -- The rate of mortgages entering foreclosure hit another record high in the second quarter, as did the percentage of loans somewhere in the foreclosure process, the Mortgage Bankers Association reported on Friday. The delinquency rate, which measures mortgages that aren't in foreclosure but have at least one overdue payment, also was the highest ever recorded in the MBA's ... (Fri, 05 Sep 2008 14:22:26 GMT)

Home loan troubles break records again
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers Association said Friday that... (Fri, 05 Sep 2008 14:24:44 GMT)

U.S. Mortgage Foreclosures, Delinquencies Rise to 29-Year Highs
Sept. 5 (Bloomberg) -- Foreclosures accelerated in the second quarter to the fastest pace in almost three decades as interest rates increased and home values fell, prompting more Americans to walk away from homes they couldn't refinance or sell. (Fri, 05 Sep 2008 14:25:52 GMT)

U.S. Foreclosures, Mortgage Delinquencies Hit Record High
U.S. Foreclosures, Mortgage Delinquencies Hit Record High (Fri, 05 Sep 2008 15:03:16 GMT)

Home loan troubles break records again
WASHINGTON: A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said today. (Fri, 05 Sep 2008 15:11:03 GMT)

U.S. Mortgage Foreclosures, Delinquencies Reach Highs (Update1)
Sept. 5 (Bloomberg) -- Foreclosures accelerated in the second quarter to the fastest pace in almost three decades as interest rates increased and home values fell, prompting more Americans to walk away from homes they couldn't refinance or sell. (Fri, 05 Sep 2008 15:12:05 GMT)

Rangel Paid No Mortgage Interest On Beach House
Rep. Charles Rangel paid no mortgage interest on a beach resort property for about 15 years, a lawyer for the powerful House committee chairman says. (Fri, 05 Sep 2008 15:19:37 GMT)

Home loan troubles break records again
WASHINGTON - A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said Friday. (Fri, 05 Sep 2008 16:05:55 GMT)

Southmoreland's refinancing offers savings
Southmoreland School Board Thursday voted to refinance $9.505 million in bonds, offering the district more than $300,000 in savings. (Fri, 05 Sep 2008 16:22:08 GMT)

Mortgage delinquencies in New Jersey rise in latest survey
WASHINGTON -- The delinquency rate for mortgage loans on residential properties in New Jersey was 5.43 percent at the end of the second quarter, an increase of 56 basis points, according to the Mortgage Bankers Association in a report released today. (Fri, 05 Sep 2008 16:38:03 GMT)

Mortgage delinquencies in New Jersey rise in latest survey
WASHINGTON -- The delinquency rate for mortgage loans on residential properties in New Jersey was 5.43 percent at the end of the second quarter, an increase of 56 basis points, according to the Mortgage Bankers Association in a report released today. (Fri, 05 Sep 2008 16:38:13 GMT)

New wave of home loan defaults forecast
We could be in for a new wave of home mortgage defaults. (Fri, 05 Sep 2008 16:52:09 GMT)

Record 9% of Americans can't make home payments
WASHINGTON — More than 4 million American homeowners with a mortgage, a record 9%, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said today. (Fri, 05 Sep 2008 17:04:06 GMT)

Home Loan Woes Break New Records
A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June (Fri, 05 Sep 2008 17:12:32 GMT)

Home loan troubles break records
It is a new low for the housing market as home loan troubles break records. (Fri, 05 Sep 2008 17:19:58 GMT)

Home loan troubles breaking new records
A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, a report shows. (Fri, 05 Sep 2008 17:52:35 GMT)

Wachovia turns to brokers for refinancing help
In its effort to shed troubled Pick-A-Payment mortgage loans, Wachovia Corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told the Observer. The Charlotte bank, which is wrestling with massive mortgage losses, gives the bank another way to reach more than 500,000 customers about the possibility of converting their Pick-A-Pay loans into ... (Fri, 05 Sep 2008 18:11:57 GMT)

Ohio among top for mortgage delinquencies
Ohio still has one of the nation's highest mortgage delinquency rates, the Mortgage Bankers Association said in its second-quarter report. (Fri, 05 Sep 2008 18:33:21 GMT)

Rangel had no-interest mortgage more than 10 years
Rep. Charles Rangel paid no mortgage interest on a beach resort property for more than 10 years, a lawyer for the powerful House committee chairman said Friday. (Fri, 05 Sep 2008 18:45:05 GMT)

Home loan troubles break records again
WASHINGTON - More than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said Friday. (Fri, 05 Sep 2008 18:49:46 GMT)

Former Detroit officer among those accused in mortgage scheme
DETROIT -- A former Detroit police officer and a city appraiser are among three defendants named in a $2.1 million mortgage fraud and real estate "flipping" indictment announced Friday by the U.S. Attorney's Office in Detroit. (Fri, 05 Sep 2008 18:54:28 GMT)

Home loan troubles break records again
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. (Fri, 05 Sep 2008 19:01:16 GMT)

Damage mounts as mortgage troubles break records again
NEW 12:05 p.m. WASHINGTON, D.C. -- A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said Friday. (Fri, 05 Sep 2008 20:08:20 GMT)

Harness Your Bargaining Power
Aborrower negotiating the terms of a mortgage with a lender or mortgage broker is in what economists call a "bilateral bargaining process." Only two parties are involved, and the terms arrived at depend in part on their respective bargaining power. (Fri, 05 Sep 2008 20:22:53 GMT)

Wachovia turns to brokers for refinancing help
In its effort to shed troubled Pick-A-Payment mortgage loans, Wachovia Corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told the Observer. The use of brokers gives the Charlotte bank another way to reach more than 500,000 customers about the possibility of converting their Pick-A-Pay loans into traditional loans. Wachovia, which is ... (Fri, 05 Sep 2008 21:04:22 GMT)

3 charged in mortgage fraud scheme
A former Detroit cop and a city property appraiser have been indicted in a multimillion dollar mortgage fraud case, the U.S. Attorney's Office said today. (Fri, 05 Sep 2008 21:19:36 GMT)

More record-breaking mortgage woes hit homeowners
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. (Fri, 05 Sep 2008 21:34:39 GMT)

Illegal couple applied for home loan using stolen SSNs
Arizona Department of Public Safety detectives arrested a couple applying for a $159,000 home loan using stolen social security numbers and false immigration documents. (Fri, 05 Sep 2008 21:44:26 GMT)

Virginia gets 6 years in mortgage fraud scheme
A federal judge has sentenced an Alexandria man to nearly six years in prison in connection with a mortgage refinancing scheme. (Fri, 05 Sep 2008 22:04:45 GMT)

Man gets 6 years in mortgage fraud scheme
Associated Press - September 5, 2008 6:05 PM ET ALEXANDRIA, Va. (AP) - A federal judge has sentenced an Alexandria man to nearly six years in prison in connection with a mortgage refinancing... (Fri, 05 Sep 2008 22:16:57 GMT)

More Cons Than Pros To 401(k) Loan
In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in. (Fri, 05 Sep 2008 22:25:10 GMT)

U.S. Mortgage Foreclosures, Delinquencies Reach Highs (Update3)
Sept. 5 (Bloomberg) -- Foreclosures accelerated to the fastest pace in almost three decades during the second quarter as interest rates increased and home values fell, prompting more Americans to walk away from homes they couldn't refinance or sell. (Fri, 05 Sep 2008 22:59:06 GMT)

U.S. Mortgage Foreclosures, Delinquencies Reach Highs (Update3)
Sept. 5 (Bloomberg) -- Foreclosures accelerated to the fastest pace in almost three decades during the second quarter as interest rates increased and home values fell, prompting more Americans to walk away from homes they couldn't refinance or sell. (Fri, 05 Sep 2008 23:02:28 GMT)

Government may soon back troubled mortgage giants
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt,... (Fri, 05 Sep 2008 23:10:00 GMT)

Home loan troubles break record again
A record 9 percent of U.S. homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June. Washington state's troubled-loan rates remain low, although there are modest signs they are growing. (Sat, 06 Sep 2008 02:50:22 GMT)

Questions, and Hope, on Plans for Mortgage Giants
For months, the questions hanging over Fannie Mae and Freddie Mac have unnerved Wall Street and Main Street. Now, some answers are arriving and with them a host of new questions. (Sat, 06 Sep 2008 02:50:34 GMT)

Rangel paid no mortgage interest on beach house
Rep. Charles Rangel paid no mortgage interest on a beach resort property for about 15 years, a lawyer for the powerful House committee chairman says. (Sat, 06 Sep 2008 02:52:42 GMT)

Home loan troubles break records again
An industry group says a record 9.2 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount. (Sat, 06 Sep 2008 02:57:33 GMT)

Government may soon back troubled mortgage giants
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night. (Sat, 06 Sep 2008 03:12:34 GMT)

U.S. to take control of mortgage giants: reports
The U.S. government plans to put troubled mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported on Friday. (Sat, 06 Sep 2008 03:19:40 GMT)

Mortgage Woes Corralling Those With Good Credit
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. (Sat, 06 Sep 2008 04:02:51 GMT)

US government to take over mortgage giants: reports
The US government is planning to put under strict federal control troubled mortgage giants Fannie Mae and Freddie Mac, fire their top executives and use federal funds to bail them out, US media reported on their websites. (Sat, 06 Sep 2008 04:05:09 GMT)

Outside brokers are helping Wachovia on troubled loans
CHARLOTTE -- In its effort to shed troubled Pick-A-Payment mortgage loans, Wachovia Corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told The Charlotte Observer . (Sat, 06 Sep 2008 04:07:09 GMT)

Home loan woes set record again
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers Association said Friday that more than 4 million American homeowners with a mortgage – a record 9 percent – were either behind on their payments or in foreclosure at the ... (Sat, 06 Sep 2008 04:11:55 GMT)

Johns Is. man sues over misplaced records
For David Hair, a simple home refinancing turned into a nightmare. The Johns Island resident restructured his mortgage in late 2005 without problems, but when he began sending his monthly payments to Countrywide Home Loans, company representatives told him they had no record of his loan. (Sat, 06 Sep 2008 04:13:19 GMT)

Johns Is. man sues over misplaced records
For David Hair, a simple home refinancing turned into a nightmare. The Johns Island resident restructured his mortgage in late 2005 without problems, but when he began sending his monthly payments to Countrywide Home Loans, company representatives told him they had no record of his loan. (Sat, 06 Sep 2008 04:13:29 GMT)

MAYBANK SINGAPORE LAUNCHES SPECIAL HOME LOAN PACKAGES
SINGAPORE, Sept 6 (Bernama) – Maybank Singapore has launched two special promotions for home loan customers to mark the bank’s 48th birthday and also the 48th year in which the branch has made its home here. (Sat, 06 Sep 2008 04:42:56 GMT)

Outside brokers are helping Wachovia on troubled loans
CHARLOTTE -- In its effort to shed troubled Pick-A-Payment mortgage loans, Wachovia Corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told The Charlotte Observer . (Sat, 06 Sep 2008 04:51:59 GMT)

Maybank Singapore Launches Special Home Loan Packages
SINGAPORE, Sept 6 (Bernama) -- Maybank Singapore has launched two special promotions for home loan customers to mark the banks 48th birthday and also the 48th year in which the branch has made its home here. (Sat, 06 Sep 2008 05:09:42 GMT)

Bronson resets bonds
KALAMAZOO -- Bronson Methodist Hospital is refinancing $90 million in bond debt it issued in 2005 because of well-known troubles in the financial markets related to subprime mortgage defaults. (Sat, 06 Sep 2008 05:33:37 GMT)

BUSINESS BRIEFS
A federal judge has sentenced an Alexandria man to nearly six years in prison in connection with a mortgage refinancing scheme. The U.S. Attorney's Office says 41-year-old John Tsiaoushis also was ordered to pay nearly $4 million in restitution for the scheme, which occurred from 2004 until last November. According to prosecutors, Tsiaoushis carried out the scheme by refinancing two residential ... (Sat, 06 Sep 2008 06:08:26 GMT)

Make sure it's best time to refinance
There are many benefits to refinancing your home, the biggest one being a cut in your monthly payments. (Sat, 06 Sep 2008 06:44:06 GMT)

Former Club Owner Sentenced in Scam
The former owner of a group of Washington area nightclubs and restaurants was sentenced yesterday to nearly six years in prison for orchestrating a mortgage fraud scheme that investigators said was one of the largest ever prosecuted in Northern Virginia. (Sat, 06 Sep 2008 07:13:45 GMT)

Mortgage giants face US takeover
WASHINGTON - Senior officials from the Bush administration and the Federal Reserve yesterday informed top executives of Fannie Mae and Freddie Mac , the mortgage finance giants, that the government was preparing to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said. (Sat, 06 Sep 2008 08:23:46 GMT)

Mortgage-paying problems spreading
The housing foreclosure and delinquency crisis, which erupted last year as subprime borrowers with adjustable-rate mortgages began to default at record levels, has now begun to hit morecredit-worthy homeowners to an extent not seen before, according a quarterly report issued Friday by the Mortgage Bankers Association (MBA). (Sat, 06 Sep 2008 08:29:23 GMT)

Government may soon back troubled mortgage giants
WASHINGTON -- The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the... (Sat, 06 Sep 2008 08:54:57 GMT)

Q: What's the use of a $7,500 first-time home buyer credit that has to be repaid?
A: The National Association of Home Builders says Congress intended to give home buyers a boost in the year they buy their first home. The credit is more like a no-interest loan and, since it's repaid over 15 years, it hurts the federal deficit less than an outright grant would. (Sat, 06 Sep 2008 08:56:50 GMT)

MORTGAGE BIGS' BAILOUT LOOMS
The US Treasury may be ready to throw a long-awaited life jacket to floundering mortgage titans Fannie Mae and Freddie Mac - a move that may spell bad news for stockholders. Details of the plan are still being cemented and could be announced as... (Sat, 06 Sep 2008 09:14:55 GMT)

Home-loan troubles break record again
A record 9 percent of U.S. homeowners with a mortgage were either behind on payments or in foreclosure at the end of June. Washington state's troubled-loan rates remain low, although there are modest signs they are growing. (Sat, 06 Sep 2008 09:18:05 GMT)

Government May Soon Back Troubled Mortgage Giants
Government may soon take over troubled mortgage finance giants Fannie Mae, Freddie Mac (Sat, 06 Sep 2008 09:45:04 GMT)

Home loan troubles break records again
Washington - The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who (Sat, 06 Sep 2008 10:54:27 GMT)

Government may soon back troubled mortgage giants
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night. (Sat, 06 Sep 2008 11:09:01 GMT)

Outside brokers make calls for bank
In its effort to shed troubled Pick-A-Payment mortgage loans, Wachovia Corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told the Observer. The use of brokers gives the Charlotte bank another way to reach more than 500,000 customers about the possibility of converting their Pick-A-Pay loans into traditional mortgages. Wachovia, which is ... (Sat, 06 Sep 2008 11:27:05 GMT)

Home loan woes set record again
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers Association said Friday that more than 4 million American homeowners with a mortgage – a record 9 percent – were either behind on their payments or in foreclosure at the ... (Sat, 06 Sep 2008 11:28:24 GMT)

Outside brokers make calls for bank
In its effort to shed troubled Pick-A-Payment mortgage loans, Wachovia Corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told the Observer. The use of brokers gives the Charlotte bank another way to reach more than 500,000 customers about the possibility of converting their Pick-A-Pay loans into traditional mortgages. Wachovia, which is ... (Sat, 06 Sep 2008 11:28:44 GMT)

1 in 10 with mortgage are late or worse
WASHINGTON -- The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. (Sat, 06 Sep 2008 11:35:45 GMT)

Mortgage interest help is limited
People over 60 will not benefit from improvements to a scheme to help people pay mortgage interest if they lose their job. (Sat, 06 Sep 2008 11:56:01 GMT)

U.S. plans mortgage bailout
Feds set to seize control of giants Fannie, Freddie WASHINGTON — Senior officials from the Bush administration and the Federal Reserve on Friday informed top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, that the government was preparing to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said. ... (Sat, 06 Sep 2008 12:03:50 GMT)

Money Panel: Home loan better than 403b variety
QUESTION: In October 2007 I took out a loan from my 403b for $50,000 at 9.25 percent interest. The repayment is through payroll deduction at $462 every two weeks for five years. The loan payments are repaying my 403b plan, including interest, with after-tax dollars. But I understood the repayment would come from pre-tax dollars, because the payments go back into my 403b account. In fact, the ... (Sat, 06 Sep 2008 12:19:51 GMT)

Government may soon back troubled mortgage giants
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night. (Sat, 06 Sep 2008 17:08:24 GMT)

Company president sentenced in mortgage fraud case
CLEVELAND -- The president of a title company was sentenced to seven years in prison for her role in mortgage fraud that involved 31 houses in Cleveland, East Cleveland and Garfield Heights. Clarissa Foster, 35, of Macedonia, was sentenced Friday... (Sat, 06 Sep 2008 18:12:29 GMT)

Unemployment, mortgage delinquencies soar in worrisome sign for slumping economy
The nation's unemployment number jumped to a five-year high Friday as mortgage delinquencies rose, stoking fears that America's slumping economy could get much worse before it gets better. (Sat, 06 Sep 2008 19:12:21 GMT)

Government To Bail Out Mortgage Giants
The U.S. government is poised to take control of Fannie Mae and Freddie Mac, according to a number of reports published on Saturday. The reports, quoting unidentified officials, say the government will take the companies into conservatorship in an effort to shore up the battered housing and mortgage markets. (Sat, 06 Sep 2008 19:37:00 GMT)

Paulson Intends to Use New Power to Restructure Fannie, Freddie
Sept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. (Sat, 06 Sep 2008 19:40:44 GMT)

Government To Bail Out Mortgage Giants
The U.S. government is poised to take control of Fannie Mae and Freddie Mac, according to a number of reports published on Saturday. The reports, quoting unidentified officials, say the government will take the companies into conservatorship in an effort to shore up the battered housing and mortgage markets. (Sat, 06 Sep 2008 20:08:32 GMT)

Plenty to Coax Home Buyers Back To the Market
If you've been watching for the fleeting, best time to buy a home, this fall may be it, especially if you're a first-timer. (Sat, 06 Sep 2008 21:47:13 GMT)

Mortgage finance companies Fannie Mae, Freddie Mac failed to anticipate scale of housing bust
WASHINGTON - Mortgage giants Fannie Mae and Freddie Mac — despite their robust cadre of economists and mortgage experts — failed to heed warnings that the most dramatic housing bubble in U.S. history would burst. (Sat, 06 Sep 2008 21:54:38 GMT)

Mortgage giants were blind to bubble
Mortgage giants Fannie Mae and Freddie Mac — despite their robust cadre of economists and mortgage experts — failed to heed warnings that the housing bubble would burst. (Sat, 06 Sep 2008 23:14:40 GMT)

Privacy dumped for better loan - study
MOST Australians would not shy away from allowing lenders to access their entire credit history if it meant getting a better home loan deal, a survey has found. (Sat, 06 Sep 2008 23:17:00 GMT)

Privacy dumped for better loan - study
MOST Australians would not shy away from allowing lenders to access their entire credit history if it meant getting a better home loan deal, a survey has found. (Sat, 06 Sep 2008 23:17:00 GMT)

McCain backs government takeover of mortgage giants
Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his Democratic rival warned that taxpayers should not bail out their shareholders. (Sat, 06 Sep 2008 23:34:04 GMT)

McCain backs takeover of mortgage giants
REPUBLICAN presidential hopeful John McCain backed a government takeover of two mortgage giants today while his Democratic rival warned that taxpayers should not bail out their shareholders. (Sun, 07 Sep 2008 00:03:00 GMT)

Paulson to Take Over and Restructure Fannie, Freddie (Update5)
Sept. 6 (Bloomberg) -- Treasury Secretary Henry Paulson will use his authority to rescue Fannie Mae and Freddie Mac , likely placing the beleaguered mortgage-finance companies under government control as early as this weekend. (Sun, 07 Sep 2008 00:40:44 GMT)

Mortgage Giants Agreeable to Rescue Plan, but Its Cost Is Unknown
Under the plan, the Treasury Department will buy billions of dollars in new mortgage securities issued by the companies and inject an unknown amount of capital into them. (Sun, 07 Sep 2008 00:50:24 GMT)

Feds plan mortgage takeover
WASHINGTON #8212; The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation #8217;s mortgage debt, a person briefed on the matter said Friday night. (Sun, 07 Sep 2008 02:57:32 GMT)

Obama, McCain call for changes in mortgage giants
Democratic presidential nominee Barack Obama said Saturday that any government takeover of troubled mortgage giants Fannie Mae and Freddie Mac must put the interests of taxpayers and homeowners first. His opponent, GOP nominee John McCain, said it was essential to restructure the mortgage giants. (Sun, 07 Sep 2008 03:39:20 GMT)

U.S. mortgage giants open to rescue plan, but cost is unknown
Under the plan, the U.S. Treasury Department will buy billions of dollars in new mortgage securities issued by the companies and inject an unknown amount of capital into them. (Sun, 07 Sep 2008 04:20:18 GMT)

Fannie, Freddie Capital Concerns Prompt Paulson to Take Control
Sept. 7 (Bloomberg) -- Treasury Secretary Henry Paulson decided to take control of Fannie Mae and Freddie Mac after a review found the beleaguered mortgage-finance companies used accounting methods that inflated their capital, according to people with knowledge of the decision. (Sun, 07 Sep 2008 04:25:44 GMT)

IDBI Bank mulling merger of its home loan subsidiary
With a view to consolidate its home loan finance business, IDBI Bank is mulling the merger or sale of its wholly-owned subsidiary, IDBI Homefinance (IHFL), by end-this fiscal, a top bank official said. (Sun, 07 Sep 2008 05:50:20 GMT)

IDBI Bank mulling merger of its home loan subsidiary
With a view to consolidate its home loan finance business, IDBI Bank is mulling the merger or sale of its wholly-owned subsidiary, IDBI Homefinance (IHFL), by end-this fiscal, a top bank official said. (Sun, 07 Sep 2008 06:12:19 GMT)

Loan Originators Learn How to Succeed in Today's Mortgage Industry at Mastery Business Plan Conference, November 10 ...
Mastery Business Plan combines two of the mortgage industry's most powerful yearly events to provide loan originators with real answers and practical strategies to conquer and win in today's volatile market. Attendees take home insight, resources and tips from mortgage industry experts, including Barry Habib, Todd Duncan, Greg Frost, Sue Woodard, and Jim McMahan. (Sun, 07 Sep 2008 07:01:00 GMT)

Home buying 101: Rural rewards
A USDA guaranteed home loan? It’s probably not a U.S. Department of Agriculture service you’ve heard much about, but since 1933 the agency has offered this loan guarantee program to encourage homeownership in rural areas. The USDA Guaranteed Rural Development Loan has several advantages that are harder and harder to find in a home loan these days: • No down payment. • No mortgage ... (Sun, 07 Sep 2008 07:03:47 GMT)

Loan Originators Learn How to Succeed in Today's Mortgage Industry at Mastery Business Plan Conference, November 10 ...
Mastery Business Plan combines two of the mortgage industry's most powerful yearly events to provide loan originators with real answers and practical strategies to conquer and win in today's volatile market. Attendees take home insight, resources and tips from mortgage industry experts, including Barry Habib, Todd Duncan, Greg Frost, Sue Woodard, and Jim McMahan. (PRWeb Sep 7, 2008) Read the ... (Sun, 07 Sep 2008 07:12:24 GMT)

Mortgage rates at lowest level since July
WASHINGTON -- Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from 6.40 percent, the previous week. (Sun, 07 Sep 2008 07:18:53 GMT)

Risky mortgages threaten to keep housing market down
The nation's housing market, already awash in subprime foreclosures, is now getting hit with a second wave of losses as homeowners with so-called liar loans default in record numbers. In some parts of the country, the loans are threatening to drag out the mortgage crisis for another two years. (Sun, 07 Sep 2008 07:32:59 GMT)

Prosecutor becomes figure in mortgage mess
Thomas O'Brien, the U.S. Attorney for California's Central District, is emerging as a likely prosecutor in criminal cases expected from the U.S. mortgage meltdown. (Sun, 07 Sep 2008 07:34:14 GMT)

Bailout could push mortgage rates lower
The government's historic seizure of mortgage finance giants Fannie Mae and Freddie Mac could lower mortgage rates and breathe new life into the moribund housing market, analysts say. (Sun, 07 Sep 2008 07:35:29 GMT)

Mortgage woes forcing out renters
When landlords default, residents often get little notice (Sun, 07 Sep 2008 07:50:46 GMT)

Obama, McCain call for changes in mortgage giants
Democratic presidential nominee Barack Obama said Saturday that any government takeover of troubled mortgage giants Fannie Mae and Freddie Mac must put the interests of taxpayers and homeowners first. (Sun, 07 Sep 2008 08:23:33 GMT)

Obama, McCain call for changes in mortgage giants
TERRE HAUTE, Ind. -- Democratic presidential nominee Barack Obama said Saturday that any government takeover of troubled mortgage giants Fannie Mae and Freddie Mac must put the interests of taxpayers and homeowners first. His opponent, GOP nominee John McCain, said it was essential to restructure... (Sun, 07 Sep 2008 08:45:08 GMT)

Obama, McCain call for changes in mortgage giants
Democratic presidential nominee Barack Obama said Saturday that any government takeover of troubled mortgage giants Fannie Mae and Freddie Mac must put the interests of taxpayers and homeowners first. His opponent, GOP nominee John McCain, said it was essential to restructure the mortgage giants. (Sun, 07 Sep 2008 11:38:34 GMT)

Fannie, Freddie Capital Concerns Prompt Paulson Plan (Update1)
Sept. 7 (Bloomberg) -- Treasury Secretary Henry Paulson decided to take control of Fannie Mae and Freddie Mac after a review found the beleaguered mortgage-finance companies used accounting methods that inflated their capital, according to people with knowledge of the decision. (Sun, 07 Sep 2008 13:10:44 GMT)

Mortgage Giants Agreeable to Rescue Plan, but Its Cost Is Unknown
Under the plan, the Treasury Department will buy billions of dollars in new mortgage securities issued by the companies and inject an unknown amount of capital into them. (Sun, 07 Sep 2008 14:14:08 GMT)

Biden: Protect taxpayers in mortgage rescue
Joe Biden says the government's rescue of the big mortgage companies Freddie Mac and Fannie Mae should not mean bailing out shareholders at the expense of taxpayers. (Sun, 07 Sep 2008 14:47:23 GMT)

US takes over key mortgage firms
The US government announces plans for the takeover of failing mortgage giants Freddie Mac and Fannie Mae. (Sun, 07 Sep 2008 15:23:22 GMT)

Federal gov't announce takeover of mortgage giants
The Bush administration, acting to avert the potential for major financial turmoil, says the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. (Sun, 07 Sep 2008 15:26:49 GMT)

Today's Law: Mortgage Help
CLEVELAND -- In this week's edition of Today's Law, attorney Michael Solomon gives tips to protecting your home from foreclosure. (Sun, 07 Sep 2008 15:50:23 GMT)

U.S. Bails Out Mortgage Giants
Fannie Mae and Freddie Mac get new lease on life as Paulson acts to shore up mortgage markets. (Sun, 07 Sep 2008 15:59:05 GMT)

U.S. Bails Out Mortgage Giants
Fannie Mae and Freddie Mac get new lease on life as Paulson acts to shore up mortgage markets. (Sun, 07 Sep 2008 16:07:14 GMT)

Officials announce takeover of mortgage giants
The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. (Sun, 07 Sep 2008 18:44:40 GMT)

What rescue means for mortgage rates
Mortgage applicants rejoice! (Sun, 07 Sep 2008 19:08:17 GMT)

US Government takes over mortgage giants
The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy. (Sun, 07 Sep 2008 19:16:04 GMT)

US Government seizes control of mortgage giants
The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy. (Sun, 07 Sep 2008 19:17:31 GMT)

Treasury Extends Secured Credit Line to Federal Home Loan Banks
Sept. 7 (Bloomberg) -- The U.S. Treasury extended a secured credit facility to the Federal Home Loan Banks, the government- chartered cooperatives, allowing them to borrow through the end of next year. (Sun, 07 Sep 2008 20:27:00 GMT)

U.S. mortgage takeover promises no quick housing fix
Washington's latest attempt to resuscitate the moribund U.S. mortgage business moves the housing market out of the emergency room and into intensive care but by no means cures the patient. (Sun, 07 Sep 2008 20:28:00 GMT)

Mortgage rates at lowest level since July
WASHINGTON -- Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from 6.40 percent, the previous week. (Sun, 07 Sep 2008 20:48:14 GMT)

Home loan crisis prompts US bail-out
US government seizes control of firms holding half nation's home loans after surge in defaults. (Sun, 07 Sep 2008 21:26:25 GMT)

Fannie, Freddie deal helps some borrowers, not all
The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. (Sun, 07 Sep 2008 22:59:22 GMT)

Fannie, Freddie Deal Helps Some Borrowers, Not All
The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. But for homeowners already behind on their mortgage payments, or who owe more than their homes are now worth, the plan unveiled Sunday by Treasury Secretary Henry Paulson offers little in the way ... (Sun, 07 Sep 2008 23:11:47 GMT)

What the takeover means for your mortgage
Fannie Mae and Freddie Mac are the largest buyers of U.S. mortgages. Their takeover is expected to ripple through the economy, affecting U.S. home buyers directly and indirectly. Here are answers to common questions about the mortgage finance giants and explanations on how you might be affected by... (Sun, 07 Sep 2008 23:21:02 GMT)

Some Lawmakers Call for Hearings on Fannie, Freddie Takeover, Others Urge Overhaul of Mortgage Giants
Democratic lawmakers vowed to closely scrutinize the unprecedented government takeover Sunday of Fannie Mae and Freddie Mac, while Republicans said it bolstered their calls for an overhaul of the mortgage giants. (Sun, 07 Sep 2008 23:21:17 GMT)

1:30 p.m. - What Does Mortgage Bailout Mean for Arkansans?
By now, you've probably heard that the government is bailing out the two largest mortgage companies in the country. But you're probably thinking -- how does this affect my mortgage.....my pocketbook? (Sun, 07 Sep 2008 23:25:17 GMT)

Takeovers won't help with refis
NEW YORK — The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage (Sun, 07 Sep 2008 23:36:35 GMT)

America 'nationalises' its crisis-hit home loan giants, Fannie Mae and Freddie Mac
The U.S. government effectively nationalised the nation's two biggest mortgage lenders on Sunday to head off a collapse that could have crippled the worldwide economy. (Mon, 08 Sep 2008 00:30:10 GMT)

Fannie Mae-Freddie Mac takeover may help buyers, some homeowners
New York – The government's historic bailout of Fannie Mae and Freddie Mac today will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. (Mon, 08 Sep 2008 01:19:19 GMT)

The Rescue?s Effect on Consumers
Mortgage rates may fall a bit initially but probably not enough to quickly halt the decline in home prices. (Mon, 08 Sep 2008 01:20:24 GMT)

Fannie, Freddie deal helps some borrowers, not all
NEW YORK (AP) -- The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. But for homeowners already behind on their mortgage payments, or who owe more than their homes are now worth, the plan unveiled Sunday by Treasury Secretary Henry Paulson ... (Mon, 08 Sep 2008 01:35:39 GMT)

Fannie, Freddie deal helps some borrowers, not all
The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. But for homeowners already behind on their mortgage... (Mon, 08 Sep 2008 01:36:37 GMT)

US Government takes over mortgage giants
The Bush administration's seizure of troubled mortgage giants Fannie Mae and Freddie Mac is potentially a $200 billion bet that it will help reverse a prolonged housing and credit crisis. (Mon, 08 Sep 2008 01:51:58 GMT)

Maybank launches special variable home loan packages
Promotion is part of 2 special packages to celebrate Maybank’s 48th birthday On 12 September 2008, Maybank will mark its 48th birthday. This is also the 48th year in which Maybank Singapore has made i (Mon, 08 Sep 2008 02:16:39 GMT)

Sorting out the takeover
So what does the federal takeover of the mortgage finance giants Fannie Mae and Freddie Mac mean to consumers? If you have a fixed-rate mortgage, nothing will change. (Mon, 08 Sep 2008 02:39:34 GMT)

Asian markets soar on U.S. mortgage takeover
Asian stock markets soared Monday morning after Washington announced a bailout of mortgage giants Fannie Mae and Freddie Mac -- a move that could help bolster a shaky U.S. housing market and renew investor confidence in stock and credit markets worldwide. (Mon, 08 Sep 2008 03:07:40 GMT)

Mortgage giants in government takeover
Federal officials said Sunday that they will take control of beleaguered mortgage giants Fannie Mae and Freddie Mac in the government's most aggressive move to stabilize a financial industry reeling from a year-old mortgage and credit crisis. (Mon, 08 Sep 2008 03:35:19 GMT)

End of FHA mortgage program may futher hurt home sales
A major piece of the federal mortgage loan program is coming to an end, a change that could mean more uncertainty for home sales throughout the rest of 2008 and into 2009. (Mon, 08 Sep 2008 05:04:00 GMT)

Bailout of 2 mortgage giants isn't cure-all
The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to home buyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. (Mon, 08 Sep 2008 05:10:29 GMT)

Mortgage deal not a cure-all
NEW YORK - The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to home buyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect. (Mon, 08 Sep 2008 05:30:23 GMT)

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