Mortgage News Sep 2008

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2nd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 17:43:19 GMT)

Columbia River Bank cuts mortgage team
Columbia Bancorp, the financial holding company for Columbia River Bank, is closing the bank’s Mortgage Banking Team. (Thu, 11 Sep 2008 17:49:13 GMT)

Mortgage delinquencies continue to rise in Tampa
Mortgage loan delinquency in Tampa and around Florida continues to rise, a new survey by TransUnion.com shows. (Thu, 11 Sep 2008 18:48:25 GMT)

$2.3 Million Judgment Ordered In Mortgage Scam
A suburban Pittsburgh builder and real estate company president -- already sentenced to 30 months in prison for tax evasion -- must now repay victims more than $2 in a home mortgage scam. (Thu, 11 Sep 2008 19:13:26 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:11:45 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

3rd UPDATE: Home-Loan Activity Fell Over 20% In '07: Report
WASHINGTON -(Dow Jones)- Amid falling home prices and tightened credit conditions, home-lending activity fell more than 20% in 2007 compared with the prior year, with African-Americans and Hispanics seeing the largest decline in loan originations, a new report shows. (Thu, 11 Sep 2008 20:13:18 GMT)

Mortgage-fraud defendant gets 30 years
Monty Kinman, one of the defendants in the mortgage-fraud scheme that involved former Jackson County Executive Katheryn Shields and her husband, Phil Cardarella, will spend 30 years in prison for his role in the scheme. (Thu, 11 Sep 2008 20:17:08 GMT)

Mortgage giants’ seizure might ease housing woes
WASHINGTON — The historic seizure Sunday of mortgage finance titans Fannie Mae and Freddie Mac is expected to bolster the nation’s sinking housing sector by lowering mortgage rates and jump-starting the obscure background market that is vital to home lending. Treasury Secretary Henry Paulson announced in a Sunday morning news conference that the government was seizing Fannie Mae and Freddie ... (Thu, 11 Sep 2008 22:42:38 GMT)

ANZ National Bank last hold out after rivals cut mortgage rates
ANZ National Bank is now the last hold-out among the big banks who have all moved to cut their mortgage rates following yesterday's shock 0.5 per cut in the Official Cash Rate. (Thu, 11 Sep 2008 23:28:20 GMT)

Hawaii mortgage rates tumble
Mortgage rates at Hawaii’s largest banks plunged this week following the federal government’s takeover of mortgage giants Fannie Mae and Freddie Mac. (Fri, 12 Sep 2008 00:38:38 GMT)

Mortgage brokers, real estate agents say interest rate drop is spurring activity
n Mortgage brokers, real estate agents say interest rate drop spurring activity (Fri, 12 Sep 2008 01:03:40 GMT)

Cape Coral couple pleads guilty to mortgage fraud
A Cape Coral couple pleaded guilty Wednesday to mortgage fraud of more than $30 million through their company, Cape Coral Equity and Development Group, between late 2005 and 2006. (Fri, 12 Sep 2008 04:02:59 GMT)

Is a refinance boom coming soon?
A dramatic drop in mortgage rates has motivated some homeowners to wonder if they should refinance. A better question might be: Are they able to refinance? ... (Fri, 12 Sep 2008 04:20:32 GMT)

Keep loan repayments same: broker
Home borrowers should maintain their loan repayments at pre rate cut levels so their debt to the bank is paid quicker, a leading mortgage broker says. (Fri, 12 Sep 2008 05:36:31 GMT)

Mortgage giants' mess falls to their regulator
With the government's seizure of Fannie Mae and Freddie Mac, the federal regulator who oversaw the mortgage giants during their long descent is now in charge of restoring them to financial health. (Fri, 12 Sep 2008 05:49:04 GMT)

Colo. posts gains against mortgage fraud
For the first time in five years, Colorado has dropped out of the top 10 states for instances of mortgage fraud. (Fri, 12 Sep 2008 07:01:43 GMT)

Mortgage crisis still squeezing WaMu
Washington Mutual says it will take another multibillion write-down for bad bets on mortgage securities but insists it has adequate capital to fund its operations amid concern about the thrift's financial stability. (Fri, 12 Sep 2008 07:11:41 GMT)

Tax rebate for home loan and rent? Possible only if...
Direct tax expert Vikas M Gandhi replies to readers' queries on tax and investments. (Fri, 12 Sep 2008 07:59:59 GMT)

Mortgage rates dive below 6% in biggest one-week drop in 25 years
Mortgage rates have taken the biggest one-week plunge in more than 25 years, and the drop below 6 percent could help home buyers and people who want to refinance. (Fri, 12 Sep 2008 08:45:15 GMT)

Liberty Mortgage Funding faces lawsuit
A Louisville mortgage company faces a federal lawsuit alleging that it engaged in fraudulent lending activities that cost its business partners millions of dollars. (Fri, 12 Sep 2008 08:48:59 GMT)

Should you refinance now?
Considering refinancing your mortgage? Experts say that, for many, now is the time to get off the fence. In the wake of the government's takeover of mortgage financiers Fannie Mae and Freddie Mac, rates on 30-year mortgages fell to 5.93 percent this week, the lowest level in five months and down from 6.35 percent last week, Freddie Mac said Thursday, citing its nationwide survey. (Fri, 12 Sep 2008 09:06:35 GMT)

Should you refinance now?
Considering refinancing your mortgage? Experts say that, for many, now is the time to get off the fence. (Fri, 12 Sep 2008 09:15:44 GMT)

U.S. Foreclosures Hit Record in August as Housing Prices Fell
Sept. 12 (Bloomberg) -- U.S. foreclosure filings rose to a record in August as falling home prices made it harder to sell or refinance homes to pay off the mortgage, RealtyTrac Inc. (Fri, 12 Sep 2008 09:25:38 GMT)

ANZ National Bank joins rivals and cuts mortgage rates
The last hold-out among the big retail banks - ANZ National, has joined the team and cut its mortgage rates on the back of yesterday's Reserve Bank' shock .50 per cent cut in the Official Cash Rate. (Fri, 12 Sep 2008 10:04:25 GMT)

Mortgage rates fall below 6%
WASHINGTON – Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for effect of lowering mortgage rates. (Fri, 12 Sep 2008 10:12:49 GMT)

Loan data stolen
This time, there's no doubt. The personal information of more than 28,000 Connecticut residents was stolen from Countrywide Home Loan computers and sold. (Fri, 12 Sep 2008 10:22:21 GMT)

Mortgage Rate Dip Grabs Borrowers' Attention
For the first time in months, interest rates slipped below 6 percent this week, prompting Donna Gillis to immediately refinance the mortgage on her D.C. rowhouse. (Fri, 12 Sep 2008 11:37:20 GMT)

Abbey to cut mortgage rates again
The Abbey bank has become the latest lender on the high-street to cut some its mortgage rates. (Fri, 12 Sep 2008 12:07:48 GMT)

Brooklyn executive guilty in $44M mortgage fraud
A former owner of a defunct mortgage firm has pleaded guilty in New York City to a charge he and a colleague stole $44 million from the Fannie Mae mortgage finance company. (Fri, 12 Sep 2008 12:44:57 GMT)

Loan data stolen
This time, there's no doubt. The personal information of more than 28,000 Connecticut residents was stolen from Countrywide Home Loan computers and sold. (Fri, 12 Sep 2008 14:07:09 GMT)

Capstead Mortgage cuts dividend to 55 cents
Capstead Mortgage Corp. on Thursday said its board cut its quarterly dividend by 4 cents, or 6.8 percent, to 55 cents. The real estate investment trust said the dividend is payable Oct. 20 to shareholders of record Sept. 30. (Fri, 12 Sep 2008 14:09:10 GMT)

PharmaNet Development Group, Federal Agricultural Mortgage and Chipotle Mexican Grill lead small-cap percentage losers
PharmaNet Development Group Inc , Federal Agricultural Mortgage Corp and Chipotle Mexican Grill Inc are among the biggest percentage losers in Friday's... (Fri, 12 Sep 2008 16:21:54 GMT)

Waiting time between a foreclosure and another mortgage
Q: How long must I wait after a foreclosure or short sale before I can again qualify for a mortgage? (Fri, 12 Sep 2008 17:27:13 GMT)

Fitch Affirms 3 Classes from 1 Citigroup Mortgage Loan Trust Resecuritization Transaction
Fitch Ratings has taken the following rating actions on Citigroup Mortgage Loan Trust certificates. The classes represent a beneficial ownership interest in separate trust funds, which include bonds that have been affirmed. (Fri, 12 Sep 2008 17:50:47 GMT)

More mortgage lenders cut rates
Homeowners received some rare good news on Friday with three more mortgage lenders announcing they were cutting their rates. Lloyds TSB's lending arm Cheltenham & Gloucester, Abbey and first direct all announced reductions, with 0.99% shaved off rates in one case. (Fri, 12 Sep 2008 17:57:04 GMT)

UPDATE: US House Panel To Mull Online Gaming, Home Loan Bills
WASHINGTON -(Dow Jones)- The House Financial Services Committee will consider legislation on Sept. 16 to require federal regulators to define illegal Internet gambling, making it more difficult for them to implement a 2006 law cracking down on the activity. (Fri, 12 Sep 2008 18:28:36 GMT)

Fitch Affirms 2 Classes from 1 Deutsche Resecuritization Mortgage Trust Transaction
Fitch Ratings has taken the following rating actions on Deutsche Resecuritization Mortgage Trust certificates. The classes represent a beneficial ownership interest in separate trust funds, which include bonds that have been affirmed and placed on Rating Watch Negative. (Fri, 12 Sep 2008 20:05:37 GMT)

Lee’s Summit man gets five years for mortgage fraud
A Lee’s Summit man was sentenced Friday in federal court in Kansas City to five years and three months in prison without parole for his role in a $5 million mortgage-fraud conspiracy. (Fri, 12 Sep 2008 20:07:08 GMT)

Federal Agricultural Mortgage, PharmaNet Development Group and Maxxam among 52-week lows
Federal Agricultural Mortgage Corp. , PharmaNet Development Group Inc. and Maxxam Inc. are among the new 52-week lows in Friday's trading among companies with... (Fri, 12 Sep 2008 20:13:59 GMT)

Nev. treasurer: Mortgage takeover helps collateral
Collateral, including Fannie Mae and Freddie Mac holdings, that backs pooled Nevada bank deposits is up in value following the Bush administration's seizure of the troubled mortgage giants, state Treasurer Kate Marshall says. (Fri, 12 Sep 2008 20:42:53 GMT)

Treasurer: mortgage takeover helping
Collateral, including Fannie Mae and Freddie Mac holdings, that backs pooled Nevada bank deposits is up in value following the Bush administration's seizure of the troubled mortgage giants, state Treasurer Kate Marshall says. In a response to Gov. Jim... (Fri, 12 Sep 2008 20:44:26 GMT)

Mortgage crisis still squeezing WaMu
Washington Mutual says it will take another multibillion write-down for bad bets on mortgage securities but insists it has adequate capital to fund its operations amid concern about the thrift's financial stability. (Fri, 12 Sep 2008 21:07:44 GMT)

30-year mortgage rates fall below 6%
WASHINGTON — Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for impact of lowering mortgage rates. (Fri, 12 Sep 2008 23:27:54 GMT)

Looking for a Loan? Start Compiling This Paperwork.
When it comes to getting a home loan, the game has changed dramatically. (Sat, 13 Sep 2008 00:56:27 GMT)

Summit Financial hit by mortgage woes
MOOREFIELD, W.Va. (AP) - The federal takeover of mortgage giants Fannie Mae and Freddie Mac is going to dent Summit Financial Group's finances. (Sat, 13 Sep 2008 01:41:05 GMT)

Lower rates don't guarantee homeowners can refinance
A dramatic drop in mortgage rates has motivated some homeowners to wonder if they should refinance. A better question might be: Are they able to refinance? (Sat, 13 Sep 2008 02:11:15 GMT)

PWSA won't foreclose mortgage on Iron City plant
The Pittsburgh Water and Sewer Authority will not attempt to foreclose on a mortgage it holds over Iron City Brewing Co.'s Lawrenceville plant, something it could trigger as early as Friday if it deemed such a move to be warranted. ... (Sat, 13 Sep 2008 04:28:29 GMT)

Civic leaders meet to raise awareness of mortgage aid
If you're behind in your mortgage, don't be afraid to ask for help. And there is plenty of free help available. (Sat, 13 Sep 2008 06:22:22 GMT)

A co-signer's usually stuck for the term of a loan
Qco-signed on an auto loan for my son. Now I want to get my name off the loan. He has not missed any payments. I think it's time for him do it alone. How do you remove yourself from a loan as a co-signer? He has two years left to pay. (Sat, 13 Sep 2008 08:45:05 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. The Internal Revenue Service says you can list home equity loan interest among itemized deductions if you are legally liable to pay the interest, secure the debt with your home and do not exceed certain limitations. (Sat, 13 Sep 2008 08:49:08 GMT)

Making extra payments on fixed-rate mortgage reduces loan, cuts interest cost
Q: I have a mortgage with a balance of $54,000 with a rate of 6.5 percent. This is a 15-year fixed rate. Awhile back a friend said that if you have a 30-year mortgage, by making one extra payment per year, the loan would be reduced to 22 years. (Sat, 13 Sep 2008 09:27:33 GMT)

Mortgage rates dip below 6 percent
WASHINGTON - Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for impact of lowering mortgage rates. (Sat, 13 Sep 2008 09:42:54 GMT)

Southbury couple charged with embezzling $250,000 from mortgage lender
SOUTHBURY — A wife and husband were charged Thursday with conspiring to embezzle about $250,000 from Northeast Mortgage Corp. on Main Street South, police said. (Sat, 13 Sep 2008 09:51:25 GMT)

Former attorney charged with stealing $2M in mortgage stacking scheme
WOBURN, Mass. -- A former Somerville real estate attorney is accused of stealing millions of dollars in a mortgage scheme. (Sat, 13 Sep 2008 11:31:17 GMT)

Mortgage Breakthrough
Af ter a late start and years of lying dormant, the Egyptian mortgage industry has sprung to life, driven by economic growth, rising property prices and a clearer regulatory framework. (Sat, 13 Sep 2008 11:43:10 GMT)

Regulator Sets Pay Conditions For Mortgage Giants' Leaders
The regulator that seized control of the mortgage giants Fannie Mae and Freddie Mac has set the conditions for limiting payment to departing executives. (Sat, 13 Sep 2008 15:36:36 GMT)

Southbury couple charged with embezzling $250,000 from mortgage lender
SOUTHBURY — A wife and husband were charged Thursday with conspiring to embezzle about $250,000 from Northeast Mortgage Corp. on Main Street South, police said. (Sat, 13 Sep 2008 20:30:15 GMT)

Mervyn King warns: I’ll quit over No 10’s mortgage scheme
of the Bank of England, Mervyn King, has privately warned Downing Street that he will resign if Gordon Brown directs the bank to become the key agency in a state-backed mortgage guarantee system. (Sat, 13 Sep 2008 22:38:57 GMT)

Jackson on new Quest to give mortgage advice
LESS than a month after going into administration, Money Quest, a Scottish mortgage advice firm, has risen from the ashes to trade as a new business which aims to expand into (Sat, 13 Sep 2008 23:29:45 GMT)

Mortgage terms difficult to understand in any language
Winchester — Benjamin Ramos came to the United States 22 years ago from Guadalajara, Mexico, because he wanted to buy a motorcycle. (Sun, 14 Sep 2008 01:08:17 GMT)

Housing woes are hitting home
The housing industry in Lancaster County has prided itself on being insulated from the troubles that have afflicted other parts of the nation the past couple of years, beginning with the subprime loan crisis and culminating a week ago with the government's takeover of mortgage giants Fannie Mae ... (Sun, 14 Sep 2008 04:18:05 GMT)

Mortgage Giants' Fall May Hurt Nonprofits
The federal takeover of Fannie Mae and Freddie Mac has alarmed the Washington region's nonprofit community, sparking fear that the embattled mortgage giants, long among the area's biggest benefactors, could cut back or eliminate their charitable giving. (Sun, 14 Sep 2008 04:39:30 GMT)

Q-and-A: mortgage bailout
The federal government's dramatic takeover of mortgage finance companies Fannie Mae and Freddie Mac raises many questions for the public as home prices continue to fall and the U.S. economy remains weak. Here are answers to questions about the bailout, which was announced a week ago by Treasury Secretary Henry Paulson and James Lockhart, director of the Federal Housing Finance Agency: Q:Is the ... (Sun, 14 Sep 2008 05:15:54 GMT)

Pay mortgage early? Ask questions first
Q: We just bought a new home and took out a mortgage of $250,000. It's a 30-year fixed mortgage and our interest rate is 6.25 percent. We decided not to escrow taxes and insurance, so our monthly payment of principal and interest is $1,539.29. (Sun, 14 Sep 2008 05:42:29 GMT)

Fannie, Freddie didn't start mortgage mess
The U.S. government's takeover of Fannie Mae and Freddie Mac is the most recent sign that something has gone terribly wrong in the nation's mortgage industry. Still, policymakers and regulators must not give up on the agencies' mission -- and risk further destabilizing the housing market -- by acting rashly. (Sun, 14 Sep 2008 05:42:49 GMT)

Nation, state still taking a beating from the home-loan `blunder'
Two phrases - "credit crisis" and "credit crunch" - have been used ad nauseum to describe the mortgage market meltdown. (Sun, 14 Sep 2008 07:01:20 GMT)

If you took out a mortgage, you're obligated to the bank
Regarding " They get a loan, we pay the price ," Consumer Confidential, Sept. 10: (Sun, 14 Sep 2008 07:04:43 GMT)

Some mortgage rates drop below 6 percent
Rates on 30-year mortgages dropped sharply last week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for impact of lowering mortgage rates. Freddie Mac reported... (Sun, 14 Sep 2008 07:29:47 GMT)

No help for mortgage fraud victims
Florida, now saddled with the nation's highest level of mortgage fraud, once offered a program to reimburse people scammed by rogue mortgage brokers -- the money coming from licensing fees. (Sun, 14 Sep 2008 07:37:35 GMT)

Consumer powerless to stop mortgage sale
We had spent weeks in a mortgage-approval process, during which the financial institution had examined our financial wherewithal. (Sun, 14 Sep 2008 07:42:40 GMT)

Southbury couple charged with embezzling $250,000 from mortgage lender
SOUTHBURY — A wife and husband were charged Thursday with conspiring to embezzle about $250,000 from Northeast Mortgage Corp. on Main Street South, police said. (Sun, 14 Sep 2008 09:03:35 GMT)

Lower Mortgage Rates May Finally Lure Buyers
By Anna Bahney A drop in mortgage rates that’s accelerated since the government said it would take over Fannie Mae and Freddie Mac has raised hopes that more buyers might be drawn into the housing market and help reverse the worst slump in decades. (Sun, 14 Sep 2008 09:11:11 GMT)

Home Buyers Camp Out For Shot At 3.5% Loan
Maybe you thought you'd heard it all when it comes to people camping out overnight to get a shot at being the first to own perhaps the hot toy or the latest computer game. (Sun, 14 Sep 2008 10:19:00 GMT)

Hagerstown Community College offering mortgage loan officer course
Hagerstown Community College's Center for Continuing Education is offering a course on Maryland Mortgage Loan Officer Pre-Licensing on Tuesdays, from 5:30 to 9:30 p.m., from Sept. 16 through Nov. 25 (Sun, 14 Sep 2008 11:51:57 GMT)

Mortgage Expert Pens New Book on Market Solutions
The mortgage mess is still with us, despite the well-received federal takeover of Fannie Mae and Freddie Mac, and a Yale economist and author, Professor Robert Shiller, charts the way out. (Sun, 14 Sep 2008 12:42:01 GMT)

Most local home sellers losing big bucks in deal
Almost two-thirds of property owners who sold homes in San Diego County this summer lost money on the deal, according to an analysis by MDA DataQuick, a San Diego real estate research firm. Those who lost money were down an average of $161,000, or 35.5 percent less than the home had sold for previously. (Sun, 14 Sep 2008 13:15:56 GMT)

Southbury couple charged with embezzling $250,000 from mortgage lender
SOUTHBURY — A wife and husband were charged Thursday with conspiring to embezzle about $250,000 from Northeast Mortgage Corp. on Main Street South, police said. (Sun, 14 Sep 2008 14:29:38 GMT)

Real Estate: Mortgage rates are lower, but getting a home loan is no easier
The government takeover of mortgage giants Fannie Mae and Freddie Mac has pushed mortgage rates lower, a boon for some home buyers and homeowners seeking to refinance, but it is not automatically going to make home loans easier to obtain. (Sun, 14 Sep 2008 18:58:33 GMT)

Mortgage giants' takeover worries DC area groups
Associated Press - September 14, 2008 6:25 PM ET WASHINGTON (AP) - Washington region nonprofits say they fear cutbacks in charitable giving after a federal takeover of 2 mortgage... (Sun, 14 Sep 2008 22:34:28 GMT)

Mortgage giants' takeover worries DC area groups
WASHINGTON (AP) - Washington region nonprofits say they fear cutbacks in charitable giving after a federal takeover of 2 mortgage companies. D.C.-based mortgage giants Fannie Mae and Freddie Mac or their foundations gave roughly $47 million to area nonprofit organizations last year. (Mon, 15 Sep 2008 00:14:38 GMT)

State probes Fossil Butte Drive mortgage-fraud allegations
Belinda Gardner thought it was too good to be true when a mortgage broker offered to pay her $20,000 if she would buy a new house on Fossil Butte Drive in northeast Colorado Springs and promise to live in it, even though she had no intention of moving. (Mon, 15 Sep 2008 00:15:48 GMT)

Stocks rally on plan for mortgage giants
NEW YORK — Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government’s move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained nearly 300 points. (Mon, 15 Sep 2008 00:47:59 GMT)

Mortgage Giants' Takeover Worries D.C. Nonprofits
Washington region nonprofits say they fear cutbacks in charitable giving after a federal takeover of two mortgage companies. (Mon, 15 Sep 2008 01:00:48 GMT)

Financial hurricane victim Lehman waited too long
If the mortgage meltdown is like a financial hurricane, then think of Lehman Brothers as a casualty that waited too long to cry for help. (Mon, 15 Sep 2008 02:02:24 GMT)

Mortgages qualify for KiwiSaver mortgage diversion
Amendments to the mortgage diversion regulations signed by Order in Council today allow more types of mortgages to qualify for the mortgage diversion facility, Finance Minister Michael Cullen and Revenue Minister Peter Dunne said today. (Mon, 15 Sep 2008 02:13:34 GMT)

Westpac drops fixed rates by up to 0.3%
Westpac Banking Corporation will drop its fixed interest rates for both new and existing customers by up to 0.3 per cent from Tuesday. Fixed interest home and residential investment loan rates will d (Mon, 15 Sep 2008 02:39:30 GMT)

Big global banks roll out $70B loan program
NEW YORK (AP) _ A group of global banks and securities firms announce a $70 billion loan program that financial companies can tap to help ease a credit shortage that threatens global financial markets. (Mon, 15 Sep 2008 02:41:20 GMT)

Area lenders cheer Fannie, Freddie bailout; mortgage rates drop
Hilton Head Island area mortgage professionals are cheering the government's takeover of mortgage giants Fannie Mae and Freddie Mac, saying it will lower interest rates and possibly spur buyers to close deals. (Mon, 15 Sep 2008 04:26:48 GMT)

Mortgage Company Employee May Have Sold Names
Families across the country are receiving letters saying someone from their mortgage company may have sold their personal information. (Mon, 15 Sep 2008 04:46:16 GMT)

Washington Mutual Hobbled By Increasing Defaults on Option ARMs
Sept. 15 (Bloomberg) -- Washington Mutual Inc. , the thrift that lost 92 percent of market value in the past year, is being dragged down by a mortgage product once hailed by former Chief Executive Officer Kerry Killinger as a boost to profit. (Mon, 15 Sep 2008 04:56:12 GMT)

Dynamics of long-running mortgage crisis shift
Wilber National Bank expects to hire at least two mortgage originators each quarter for the foreseeable future. (Mon, 15 Sep 2008 05:24:16 GMT)

Loans for health care properties up
Commercial mortgage originations for health care properties jumped 66 percent in the second quarter of 2008, compared with the same period a year ago, while loans for other types of properties fell, according to a recent report by the Mortgage Bankers Association, demonstrating at least one commercial-loan segment remains viable. (Mon, 15 Sep 2008 05:30:21 GMT)

Mortgage lenders hang on as housing market bottoms
M&T Bank Corp.’s David Skaff is sure his bank lost mortgage business over the past few years to competitors that were making some of the market’s most aggressive loans. (Mon, 15 Sep 2008 05:34:58 GMT)

You've paid for home, now let home pay for you
PHOENIX - Robert and Shirley Lachance realized in April their home of 32 years needed serious repairs, and the only nest egg available to fund those repairs was the nest itself. (Mon, 15 Sep 2008 07:12:32 GMT)

North Carolina banishes mortgage firm
RALEIGH – State regulators have suspended the license of a mortgage brokerage that they say didn’t reveal prior regulatory actions against it in at least three other states. (Mon, 15 Sep 2008 07:30:09 GMT)

(AFX UK Focus) 2008-09-15 08:39 UPDATE 1-Nykredit bids 1.8 bln DKK for Forstaedernes
COPENHAGEN, Sept 15 (Reuters) - Denmark's largest mortgage lender, Nykredit Realkredit, on Monday bid 1.8 billion Danish crowns ($338.3 million) or 105 crowns per share in cash for Forstaedernes, a small Danish bank. (Mon, 15 Sep 2008 07:48:47 GMT)

Mortgage manager: Best time for new buyers
-- If you're having doubts about buying a home in the current housing market flux, don't, Flagship Mortgage Branch Manager Ron Graf said. (Mon, 15 Sep 2008 09:21:27 GMT)

Mortgage giant bailout could boost real estate market
The federal government's recent bailout of mortgage companies Fannie Mae and Freddie Mac will give a boost to the region's home-buying market, area real experts said. (Mon, 15 Sep 2008 09:37:09 GMT)

Economy not stopping college students
For months, forecasters have predicted that increasing home foreclosures and layoffs, record gasoline prices, soaring food costs and the troubled student-loan market would make it impossible for many people to go to college. But local college leaders and state officials said they haven't heard of any horror stories materializing. And larger-than-expected freshman enrollments have sent several ... (Mon, 15 Sep 2008 10:18:08 GMT)

Seven Common Credit Myths Dispelled
(ARA) - With the economy reeling and home loan rates at a nine-month high, lenders are scrutinizing everyone's credit history like never before. Yet, many Americans don't realize the impact of late payments on their credit score and their finances. (Mon, 15 Sep 2008 10:25:20 GMT)

Southbury couple charged with embezzling $250,000 from mortgage lender
SOUTHBURY — A wife and husband were charged Thursday with conspiring to embezzle about $250,000 from Northeast Mortgage Corp. on Main Street South, police said. (Mon, 15 Sep 2008 10:42:27 GMT)

Mortgage giants' takeover worries nonprofits
WASHINGTON (AP) - Washington region nonprofits say they fear cutbacks in charitable giving after a federal takeover of two mortgage companies. D.C.-based mortgage giants Fannie Mae and Freddie Mac or their foundations gave roughly $47 million to area nonprofit organizations last year. (Mon, 15 Sep 2008 12:00:29 GMT)

Stocks rally on plan for mortgage giants
NEW YORK — Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government’s move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained nearly 300 points. (Mon, 15 Sep 2008 14:16:13 GMT)

Former Somerville real estate lawyer indicted for mortgage fraud
Prosecutors also allege Carey falsified information on mortgage loan applications by omitting certain mortgages on the properties and signed a family member’s name on false mortgage applications and closing documents he created. (Mon, 15 Sep 2008 15:33:16 GMT)

Personal Finance Daily: Paying someone to do your taxes may be costing you double
Find out how unlicensed tax preparers could hurt you, catch the latest on difficulties in securing a mortgage, and read about the ETF backlash, all in today's Personal Finance section. (Mon, 15 Sep 2008 15:58:53 GMT)

European stocks close sharply lower
EUROPEAN stock markets closed sharply lower today after US investment bank Lehman Brothers became the latest casualty of the US subprime home loan crisis and filed for bankruptcy protection. (Mon, 15 Sep 2008 16:11:00 GMT)

Finance Bright Spot: Mortgage Rates
Amid the turmoil, home-loan rates post a big decline, which can lead to real monthly savings. (Mon, 15 Sep 2008 16:28:01 GMT)

Dozen People Indicted on Atlanta Mortgage Fraud Scheme
ATLANTA (MyFOX Atlanta) -- Fulton County authorities indicted 12 people, who they said were involved in an elaborate mortgage fraud scheme which primarily targeted the West End community. Fulton County District Attorney Paul Howard, Jr. made the announcement Monday. (Mon, 15 Sep 2008 17:06:19 GMT)

Lehman: This time, feds let a big bank fall
As venerable Wall Street firms succumb to the home loan crisis, focus shifts to limiting taxpayer cost. (Mon, 15 Sep 2008 17:56:13 GMT)

Woolwich cuts mortgage rates
Barclays' mortgage arm Woolwich has become the latest firm to cut interest rates on its home loans. The Woolwich announced it was trimming rates on fixed and lifetime tracker mortgages, including two-year, three-year and 10-year fixed rates products. (Mon, 15 Sep 2008 18:26:29 GMT)

PHH shares plunge despite upgrade as market dives
(AP:NEW YORK) Shares of mortgage originator PHH Corp. plunged Monday despite an analyst upgrade as investors fled the mortgage and financial markets following a tumultuous weekend on Wall Street. (Mon, 15 Sep 2008 18:37:04 GMT)

Shares of PHH get swamped by Lehman tsunami
Shares of mortgage originator PHH plunged today despite an analyst upgrade as investors fled the mortgage and financial markets following a tumultuous weekend on Wall Street.Mount Laurel-based PHH lost $2.24, or 13.9 percent, to $13.86 in afternoon trading. Earlier in... (Mon, 15 Sep 2008 18:37:28 GMT)

Cuyahoga County Warns of Foreclosure Rescue Scams
For homeowners facing foreclosure, finding a solution to mortgage problems can be intimidating and overwhelming. Cuyahoga County's Foreclosure Prevention Program is launching a new program today to warn borrowers that some offers of help may actually be scams. ideastream®'s Mhari Saito reports. (Mon, 15 Sep 2008 19:15:33 GMT)

Lehman Had Long Relationship With Suspect Mortgage Brokers
Memo from Lehman executive questioned the mortgage firm's ethics. (Mon, 15 Sep 2008 19:35:25 GMT)

Feds offer mortgage relief to disaster area
The federal government will offer a three month moratorium on mortgage foreclosures that are insured by the Federal Housing Authority to residents living in Texas and Louisiana disaster areas. (Mon, 15 Sep 2008 19:51:34 GMT)

Mortgage Rates Fall on Lehman, Merrill News
What Wall Street's developments mean for home buyers and owners. (Mon, 15 Sep 2008 20:04:32 GMT)

KC offers assistance to home buyers
The Kansas City Dream Home Program began accepting applications Monday. (Mon, 15 Sep 2008 20:16:50 GMT)

GFI Group, Federal Agricultural Mortgage Corp and Media General among 52-week lows
GFI Group Inc. , Federal Agricultural Mortgage Corp. and Media General Inc. are among the new 52-week lows in Monday's trading among companies with market... (Mon, 15 Sep 2008 20:34:27 GMT)

12 indicted in Atlanta mortgage fraud scheme
Local authorities said Monday they charged 12 men with an elaborate mortgage fraud scheme in Atlanta's West End neighborhood and seized more than $200,000 of assets. (Mon, 15 Sep 2008 21:09:19 GMT)

Financial Security 101 through your home
When you retire, there may be nothing more important than owning your home free and clear. The emotional and financial advantages of achieving this goal cannot be over-exaggerated. (Mon, 15 Sep 2008 21:59:32 GMT)

Wake-up call: Lehman’s mortgage marks
The weekend’s momentous developments — Lehman Brothers Holdings’ looming collapse, Merrill Lynch’s merger talks with Bank of America and American International Group’s plans to sell assets — all have one thing in common: The firms couldn’t deal with tens of billions of dollars in mortgage exposure left on their balance sheets from the credit boom. (Mon, 15 Sep 2008 22:04:24 GMT)

PHH shares plunge despite upgrade as market dives
Shares of mortgage originator PHH Corp. plunged Monday despite an analyst upgrade as investors fled the mortgage and financial markets following a tumultuous weekend on Wall Street. (Mon, 15 Sep 2008 22:34:35 GMT)

Mortgage rates fall on Lehman, Merrill news
Mortgage Rates Fall on Lehman, Merrill News What Wall Street's developments mean for home buyers and owners. By Kimberly Palmer Thelatest round of financial shockers didn't just send Wall Street tradersscrambling--the problems also have consumers wondering if it's a goodtime to buy a home or refinance, given the impact (Mon, 15 Sep 2008 23:29:57 GMT)

Impac Mortgage Holdings, Inc. Announces First Half 2008 Results
Impac Mortgage Holdings, Inc. , a real estate investment trust , reports a net loss of $ million, or $ per diluted common share for the six months ended June 30, 2008, as compared to a net loss of $ million, or $ per diluted common share for the six months ended June 30, 2007. (Tue, 16 Sep 2008 00:42:00 GMT)

Man Arrested In Mortgage Fraud Case
The Palm Beach County Mortgage Fraud Task Force arrested a man on suspicion of using a progression of buyers to squeeze equity from a home. (Tue, 16 Sep 2008 01:24:11 GMT)

Thornburg Mortgage Announces Amendment and Extension of Exchange Offer and Consent Solicitation
Thornburg Mortgage, Inc. (NYSE: TMA), announces that it is amending its Exchange Offer and Consent Solicitation (the "Exchange ... (Tue, 16 Sep 2008 01:58:02 GMT)

Local Angle: Lehman's Kern projects
You probably know Lehman Brothers, through a subsidiary, put up $235 million for the development of McAllister Ranch in far southwest Bakersfield -- a loan that defaulted in April. You might not be aware of other large local projects the now-bankrupt investment bank has funded in recent years. In addition, Lehman made many home loans in Kern, county documents show. Here are highlights of major ... (Tue, 16 Sep 2008 02:04:05 GMT)

Dozen People Indicted on Atlanta Mortgage Fraud Scheme
ATLANTA (MyFOX Atlanta) -- Fulton County authorities indicted 12 people, who they said were involved in an elaborate mortgage fraud scheme which primarily targeted the West End community. Fulton County District Attorney Paul Howard, Jr. made the announcement Monday. (Tue, 16 Sep 2008 03:06:08 GMT)

Morrison Library Revives Graphic Arts Loan Program
BERKELEY, CA.- The University of California, Berkeley's Morrison Library is reviving a Graphic Arts Loan Collection program that 50 years ago began placing Picassos, Miros and the works of other renowned and emerging artists into the hands of students, faculty and staff. (Tue, 16 Sep 2008 03:10:18 GMT)

Full circle: Financial hurricane puts focus back on mortgage, housing markets
The United States is undergoing its biggest financial crisis since the Great Depression. Venerable institutions are collapsing. Wall Street is reeling. What does it all mean to the housing and mortgage markets, whose problems triggered these catastrophes?... (Tue, 16 Sep 2008 03:32:04 GMT)

Home ownership class is planned
Grants of $5,000 to $45,000 are now available for low and moderate income persons to use as downpayment to buy a first home in Henderson County, according to The Housing Foundation, a non-profit organization. (Tue, 16 Sep 2008 05:09:55 GMT)

Wake-up call: Lehman’s mortgage marks
The weekend’s momentous developments — Lehman Brothers Holdings’ looming collapse, Merrill Lynch’s merger talks with Bank of America and American International Group’s plans to sell assets — all have one thing in common: The firms couldn’t deal with tens of billions of dollars in mortgage exposure left on their balance sheets from the credit boom. (Tue, 16 Sep 2008 05:49:34 GMT)

Wells Fargo relaxes loan rules along Front Range
Wells Fargo Home Mortgage, one of the state's largest lenders, has relaxed its loan requirements along the Front Range in recognition of a healthier housing market. (Tue, 16 Sep 2008 06:09:15 GMT)

Super-rich banker whose greedy bungling will send our mortgage bills spiralling
This is the super-rich banker known as the Gorilla whose greedy bungling will send our mortgage bills spiralling. (Tue, 16 Sep 2008 07:20:31 GMT)

Exit pay limited for ex-mortgage company execs
The regulatory agency that oversees Fannie Mae and Freddie Mac is blocking as much as $24 million in "golden parachute" severance payments to the mortgage companies' ousted chief executive officers. (Tue, 16 Sep 2008 07:52:42 GMT)

Ward agrees Jennison loan
Carlisle United manager John Ward has agreed a deal to bring Bristol City forward Jennison Myrie-Williams to Brunton Park on a one-month loan arrangement. (Tue, 16 Sep 2008 09:13:19 GMT)

Stocks rally on plan for mortgage giants
NEW YORK — Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government’s move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained nearly 300 points. (Tue, 16 Sep 2008 09:35:17 GMT)

Mortgage Seekers Find Rates Are Down, Credit Standards Tighter
Sept. 16 (Bloomberg) -- U.S. mortgage rates are dropping. Good luck getting a loan. Existing home prices have fallen 7.7 percent since their July 2006 high and rates dropped below 6 percent last week for the first time in more than three months. (Tue, 16 Sep 2008 09:40:59 GMT)

Bank unlikely to sweeten refinance rate
It's rare for originating lenders to give deals to borrowers based on past loan agreements, says Dr. Don Taylor. (Tue, 16 Sep 2008 10:00:00 GMT)

HBOS Extends its Decline for Fifth Day on Liquidity Concerns
Sept. 16 (Bloomberg) -- HBOS Plc , Britain's biggest mortgage lender, extended its decline in London trading for a fifth day on concern over its dependence on funding from the wholesale markets. (Tue, 16 Sep 2008 10:19:37 GMT)

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