Mortgage News Sep 2008
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Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, When refinancing a loan, is it easier to refinance with the bank that originally had your loan? (Tue, 16 Sep 2008 10:51:08 GMT)
Home prices to fall on liquidity concerns: analyst
The collapse of Lehman Brothers Holdings Inc and takeover of Merrill Lynch & Co Inc will cause liquidity in the credit market to shrink, resulting in lower home prices, prominent U.S. banking analyst Meredith Whitney said. (Tue, 16 Sep 2008 10:56:10 GMT)
HBOS Extends Stock Declines on Liquidity Concern (Update1)
Sept. 16 (Bloomberg) -- HBOS Plc , Britain's biggest mortgage lender, lost a quarter of its market value in London trading on concern over its dependence on funding from the capital markets. (Tue, 16 Sep 2008 11:12:50 GMT)
Congress weighs new regulations, role of collapsed mortgage giants amid Wall St. meltdown
WASHINGTON - A Congress criticized for being asleep at the switch while financial problems festered is eyeing tough new regulations for investment banks and a new government role in the mortgage market as Wall Street reels from another round of collapses. (Tue, 16 Sep 2008 11:18:32 GMT)
Growing Mortgage Lender Residential Finance Corp. Says Housing and Economic Recovery Act to Help More Homeowners Get ...
COLUMBUS, Ohio----Residential Finance Corporation , a nationwide FHA-approved mortgage lender with headquarters in Columbus is helping homeowners take advantage of new opportunities made available by recent changes in FHA mortgage qualifications and the newly announced Housing and Economic Recovery Act of 2008. (Tue, 16 Sep 2008 12:00:00 GMT)
Fears for Britain's biggest mortgage lender as HBOS shares fall 30% in the wake of Meltdown Monday
There were fears Britain's biggest mortgage lender could become the next victim of the credit crunch today after its shares fell more than 30 per cent in just two days. (Tue, 16 Sep 2008 12:02:51 GMT)
HBOS Extends Stock Declines on Liquidity Concern (Update1)
Sept. 16 (Bloomberg) -- HBOS Plc , Britain's biggest mortgage lender, lost a quarter of its market value in London trading on concern over its dependence on funding from the capital markets. (Tue, 16 Sep 2008 12:19:03 GMT)
HBOS shares extend heavy losses as funding fears mount
Shares in U.K. mortgage bank HBOS took a further battering Tuesday, extending two-day losses to around 45%, as turmoil in financial markets reignited worries about its ability to fund lending. (Tue, 16 Sep 2008 12:28:43 GMT)
Ahead of the Bell: Mortgage REITs
Shares of mortgage real estate investment trusts could be ready for an upturn, as their exposure to the demise of Lehman Brothers Holding Inc. is manageable, according to a Keefe, Bruyette & Woods analyst. (Tue, 16 Sep 2008 13:05:10 GMT)
Goldman Loses $825 Mln On Mortgage Exposure
Goldman Loses $825 Mln On Mortgage Exposure (Tue, 16 Sep 2008 13:23:01 GMT)
GM: Market turmoil shouldn't hurt loan guarantees
General Motors Corp. Chairman and CEO Rick Wagoner says the turmoil in the U.S. financial markets should not affect government loan guarantees being sought by the auto industry. (Tue, 16 Sep 2008 14:01:49 GMT)
State report chastises Florida mortgage regulators
As Florida grapples with the worst home loan fraud crisis in the country, state mortgage industry regulators failed to order federal criminal background checks of mortgage brokers and, in some cases, never alerted police agencies to crooked mortgage operations, according to a state investigation of the lead agency that oversees Florida's troubled loan industry. (Tue, 16 Sep 2008 14:37:21 GMT)
GM's Wagoner unveils electric Chevy Volt, says financial tumult shouldn't hurt loan guarantees
DETROIT - General Motors Corp. Chairman and CEO Rick Wagoner unveiled the automaker's long-awaited electric car Tuesday and said the turmoil in U.S. financial markets should not affect government loan guarantees that would help the auto industry develop high-tech cars. (Tue, 16 Sep 2008 14:48:25 GMT)
Kolkata, Sep 16 : The SBI today opened a mega property fair titled "SBI Home Loan Mahtsav" here.
Chief general manager, Bengal circle, Jayanta Kumar Sinha after inaugurating the 3-day fair said, ''the SBI's home loan upto Rs 30 lakh at 10.50% was among the most competitive in the market.'' (Tue, 16 Sep 2008 15:49:02 GMT)
DeKalb County Forms Task Force to Help Combat Mortgage Crisis
DeKalb County officials are trying to minimize the financial fallout from the meltdown of the mortgage industry. They've formed a task force, whose goals are to prevent people from losing their homes and stabilize the housing market. (Tue, 16 Sep 2008 16:36:21 GMT)
Heifer Requests Bond Issue for Building, Refinance
Heifer International on Tuesday will ask the Little Rock City Board of Directors to facilitate a bond issue to refinance its downtown headquarters and to help pay for a building currently under construction. (Tue, 16 Sep 2008 16:58:23 GMT)
HBOS PLC shares fall 60 percent
Shares in HBOS PLC, Britain's biggest mortgage lender, plunged as much as 60 percent on the London Stock Exchange on Tuesday as financial shares fell sharply in the wake of Lehman Brothers Holding Inc.'s bankruptcy. (Tue, 16 Sep 2008 17:16:03 GMT)
Economic Report: Home-builder confidence improves in September
U.S. home builders grew more confident about their business in early September, with builder sentiment rising for the first time in seven months, a national industry trade group reports. (Tue, 16 Sep 2008 17:28:43 GMT)
Federal Agricultural Mortgage, Targacept and North American Galvanizing & Coatings Inc lead small-cap percentage losers
Federal Agricultural Mortgage Corp. , Targacept Inc. and North American Galvanizing & Coatings Inc. are among the biggest percentage losers in Tuesday's... (Tue, 16 Sep 2008 17:45:57 GMT)
Federal Home Loan Bank of Indianapolis Announces Community Spirit Award Recipient
INDIANAPOLIS, Sept. 16, 2008 -- Recognizing excellence in community economic development, Milton J. Miller, President & CEO of the Federal Home Loan Bank of Indianapolis , announced that Daryl L. (Tue, 16 Sep 2008 17:48:34 GMT)
Figures show drop in mortgage costs
The average cost of a leading two-year fixed rate mortgage has fallen by more than 1% during the past six weeks, figures have shown. (Tue, 16 Sep 2008 18:27:43 GMT)
Fed announcement: Sept. 16, 2008
unchanged at the last two meetings. When will today's decision hit your wallet? When the Federal Reserve meets, we all have questions: What does it mean to me? Will my mortgage rate go up or down? Is this a good time to refinance? Bankrate is here to help. (Tue, 16 Sep 2008 18:50:40 GMT)
PHH shares continue decline amid market turmoil
Shares of PHH Corp. continued their decline Tuesday as the financial sector meltdown weighed on the mortgage originator. (Tue, 16 Sep 2008 18:51:55 GMT)
Mortgage Seekers Find Rates Are Down, Credit Tighter (Update1)
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 18:56:05 GMT)
Will Mortgage Crisis Impact Business Lending?
Will Mortgage Crisis Impact Business Lending? by Gerry Ricciutti Showing off its latest addition, Infocision opens a brand new call-center in Austintown. The 300-jobs created here make the company one of the Valley's largest employers with more than 1,300 workers... (Tue, 16 Sep 2008 19:05:55 GMT)
Mortgage Market's Impact Analyzed
Mortgage defaults precipitated one of the worst banking crises in memory. Kenneth Rogoff, a professor of economics at Harvard University, says debt was concentrated in a relatively small number of banks, which used very short-term loans to buy debt. (Tue, 16 Sep 2008 20:00:00 GMT)
DeKalb County Forms Task Force to Combat Mortgage Crisis
With Wall Street still reeling from plummeting stock prices, DeKalb County leaders are trying address the financial fallout from the mortgage crisis. (Tue, 16 Sep 2008 20:06:08 GMT)
Texas Mortgage and Refinance Launches New Website
Texas Mortgage and Refinance, an experienced mortgage brokerage firm, launched its new company website in July of this year (Tue, 16 Sep 2008 20:08:00 GMT)
Synutra International, Federal Agricultural Mortgage and Targacept among 52-week lows
Synutra International Inc. , Federal Agricultural Mortgage Corp. and Targacept Inc. are among the new 52-week lows in Tuesday's trading among companies with... (Tue, 16 Sep 2008 20:44:45 GMT)
Foreign banks' influence seen in mortgage rescue
Foreign central banks cut back sharply on their purchases of Fannie Mae and Freddie Mac securities in July, a development that helped spur the U.S. government's bailout of the mortgage giants, data released Tuesday by the Treasury Department shows. (Tue, 16 Sep 2008 21:20:54 GMT)
Call 4 Action: Chaos On Wall Street Could Be Good News For Your Street
Falling mortgage rates could be great for homeowners looking to refinance. (Tue, 16 Sep 2008 21:28:28 GMT)
Mortgage exec: No rate cut, no problem
Jeremy Salemson, chief executive of Corporate Investors Mortgage Group in Raleigh, said he was surprised by the lack of action by the Federal Reserve on Tuesday, but added that consumers shouldn't be concerned. (Tue, 16 Sep 2008 22:59:35 GMT)
PHH shares continue decline amid market turmoil
Shares of PHH Corp. continued their decline Tuesday as the financial sector meltdown weighed on the mortgage originator. (Tue, 16 Sep 2008 23:03:23 GMT)
Report says criminals got Fla. mortgage licenses
State regulators failed to comply with a law designed to keep convicted criminals from working in Florida's mortgage industry and more legislation is needed, according to an investigative report issued Tuesday. (Tue, 16 Sep 2008 23:18:07 GMT)
Thinking of refinancing? Talk to us
Are you thinking of refinancing a mortgage to take advantage of recent drops in interest rates. Allan Drury of The Journal News would like to speak with homeowners who are considering refinancing a mortgage. (Wed, 17 Sep 2008 00:04:31 GMT)
McCain And Obama On The Mortgage Mess
In "Where They Stand," Ben Tracy reports on how the proposed policies of Barack Obama and John McCain to tackle the mortgage crisis would affect you. (Wed, 17 Sep 2008 00:30:03 GMT)
AIG May Get $85 Billion U.S. Loan in Return for Majority Stake
Sept. 16 (Bloomberg) -- American International Group Inc., the biggest U.S. insurer by assets, has been offered an $85 billion U.S. loan in return for an 80 percent stake in the company, according to a person familiar with the situation. (Wed, 17 Sep 2008 00:40:40 GMT)
Macquarie Confident of Fundraisings Amid Turmoil (Udpate1)
Sept. 17 (Bloomberg) -- Macquarie Group Ltd. , Australia's biggest investment bank, said it is confident of refinancing debt amid the global credit squeeze, after raising A$6.4 billion ($5 billion) from March 31 to July 31. (Wed, 17 Sep 2008 00:42:23 GMT)
Learn how to buy a home in today's real estate market.
Learn how to buy a home in today's real estate market. We will cover everything from A to Z in the home buying process from getting pre-approved for a home loan to writing an offer and what to expect at closing. (Wed, 17 Sep 2008 00:46:27 GMT)
Mortgage rates falling but nervous home buyers may stay on sidelines
The collapse of investment bank Lehman Brothers and the bargain-basement sale of Merrill Lynch won't have much direct negative impact on mortgage borrowers, experts say. Some borrowers may even benefit: the turmoil on Wall Street has resulted in lower rates for some home loans, which should be good for the housing market. Still, falling rates may not be enough to motivate many potential buyers. (Wed, 17 Sep 2008 01:10:10 GMT)
Mortgage rates falling but nervous home buyers may stay on sidelines
The collapse of investment bank Lehman Brothers and the bargain-basement sale of Merrill Lynch won't have much direct negative impact on mortgage borrowers, experts say. Some borrowers may even benefit: the turmoil on Wall Street has resulted in lower rates for some home loans, which should be good for the housing market. Still, falling rates may not be enough to motivate many potential buyers. (Wed, 17 Sep 2008 01:11:41 GMT)
Low rates on credit, loans are out there
Interest rates on everything from home mortgages to credit cards have been falling in recent weeks. So is it a good time to get a loan? Not necessarily. Unless you have gold-plated credit, you might not qualify for the lowest rates. In fact, if you have tarnished credit, you might not be able to get a loan at all. (Wed, 17 Sep 2008 02:54:02 GMT)
AIG Gets $85 Billion Fed Loan, Cedes Control to Avert Collapse
Sept. 16 (Bloomberg) -- American International Group Inc. avoided the worst financial collapse in history by accepting a rescue that provides an $85 billion loan from the federal government in return for a majority stake. (Wed, 17 Sep 2008 03:27:44 GMT)
Is it time to create mortgage bailout agency?
As the Bush administration struggles to deal with the nation's financial crisis, some lawmakers and experts are considering a longer-term legislative solution that would create an agency to dispose of the mortgage-related assets at the core of Wall Street's woes. (Wed, 17 Sep 2008 03:39:30 GMT)
Fix for mortgage paperwork draws fire
A long effort to simplify the mortgage closing process drew criticism Tuesday from bankers, brokers and consumer advocates, amid claims that the overhaul might further confuse overwhelmed homebuyers. The hearing by a House oversight subcommittee focused on a proposal intended to simplify the papers that consumers sign when they're buying a house or refinancing their mortgage. Advocates want ... (Wed, 17 Sep 2008 04:09:36 GMT)
Macquarie Slumps in Sydney; Denies Reported Refinancing Problem
Sept. 17 (Bloomberg) -- Macquarie Group Ltd. , the Australian investment bank that's lost almost a third of its market value in the past month, slumped in Sydney trading as it sought to defuse speculation of a potential funding shortfall. (Wed, 17 Sep 2008 04:57:20 GMT)
AIG Gets $85 Billion Fed Loan, Cedes Control to Avoid Collapse
Sept. 17 (Bloomberg) -- American International Group Inc. averted the worst financial collapse in history by accepting an $85 billion federal loan and giving the government a majority stake. (Wed, 17 Sep 2008 05:25:37 GMT)
Macquarie Slumps; Denies Reported Refinancing Problem (Update1)
Sept. 17 (Bloomberg) -- Macquarie Group Ltd. , the Australian investment bank that's lost a third of its market value in the past month, slumped in Sydney trading as it sought to defuse speculation of a potential funding shortfall. (Wed, 17 Sep 2008 05:57:20 GMT)
Hamilton County man held in mortgage fraud
Federal authorities continue to investigate a suspected mortgage fraud ring after the arrest of a man identified Tuesday as the indicted ringleader. (Wed, 17 Sep 2008 06:01:11 GMT)
MfD: Home Credit to take CZK 2.4bn loan in Russia
Prague, Sept 16 (CTK) - The company Home Credit & Finance Bank (HCFB) of Russia, a unit of PPF Group of the richest Czech Petr Kellner, announced on Monday it is planning to take a one-year loan amounting to RUB3.5bn (Kc2.4bn), the daily Mlada fronta Dnes (MfD) wrote Tuesday. (Wed, 17 Sep 2008 06:14:32 GMT)
Bad news on Wall Street could spur refinancings
The latest torrent of bad news from Wall Street could be a boon for folks on Main Street who are ready to refinance their homes. A 30-year fixed mortgage averaged 5.72 percent yesterday, compared with 5.88 percent a week ago, according to Bankrate.com. (Wed, 17 Sep 2008 06:35:04 GMT)
Macquarie Slumps; Denies Reported Refinancing Problem (Update2)
Sept. 17 (Bloomberg) -- Macquarie Group Ltd. , Australia's biggest investment bank, fell to its lowest in more than four years in Sydney trading as it sought to defuse speculation of a potential funding shortfall. (Wed, 17 Sep 2008 06:42:22 GMT)
CenturyPoint Mortgage Recognized in 2008 WebAward Competition
CenturyPoint Mortgage Website Receives "Standard of Excellence" Award in the Web Marketing Association's 2008 Web Award competition. (Wed, 17 Sep 2008 07:01:00 GMT)
Florida told to get tough on home loan industry
More than 10,000 people with criminal histories were allowed to sell mortgages during the housing boom State legislators should broaden regulation of Florida's home loan industry, according to an investigation detailing the state's failure to police the mortgage industry during the boom years. (Wed, 17 Sep 2008 07:16:20 GMT)
Corona considers home loan program
While some homeowners agonize over plunging home values, Corona city officials hope to turn what has been a crisis for some into an opportunity for others. (Wed, 17 Sep 2008 07:26:01 GMT)
Corona considers home loan program
While some homeowners agonize over plunging home values, Corona city officials hope to turn what has been a crisis for some into an opportunity for others. (Wed, 17 Sep 2008 07:32:52 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. (Wed, 17 Sep 2008 09:35:14 GMT)
Lloyds TSB Is in Talks to Buy Mortgage Lender HBOS (Update1)
Sept. 17 (Bloomberg) -- Lloyds TBS Group Plc, the U.K.'s biggest provider of checking accounts, is in talks to buy British mortgage giant HBOS Plc , according to two people familiar with the situation. (Wed, 17 Sep 2008 09:48:52 GMT)
Don't rush into home refinance
There is no reason to rush into refinancing a mortgage right now, says Dr. Don Taylor. (Wed, 17 Sep 2008 10:00:00 GMT)
A new U.S. agency envisioned as solution to mortgage woes
Some lawmakers and experts are considering a longer-term legislative solution that would create a new agency to dispose of the mortgage-related assets at the core of Wall Street's woes. (Wed, 17 Sep 2008 10:15:44 GMT)
HBOS shares in distress, FTSE stocks in spin
Shares in the top home-loan lender HBOS swung wildly on Wednesday amid a report it might be taken over, spinning London stocks into volatile uncertainty after an overnight rescue for US insurer AIG. (Wed, 17 Sep 2008 10:49:59 GMT)
Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, I have two mortgages. The first mortgage is a 5/1 adjustable-rate mortgage that will adjust in September 2010. The current loan balance is $168,000 and the loan is at 5⅜ percent. (Wed, 17 Sep 2008 10:50:48 GMT)
Bad mortgage brokers ran wild, Florida admits
In a stinging critique of the state's oversight of the mortgage industry, top Florida investigators found that state regulators failed to alert police agencies to crooked mortgage brokerages, ignored citizen complaints and allowed hundreds of people with criminal histories to peddle loans. (Wed, 17 Sep 2008 11:19:49 GMT)
Fix for mortgage paperwork draws fire
A long effort to simplify the mortgage closing process drew criticism Tuesday from bankers, brokers and consumer advocates, amid claims that the overhaul might further confuse overwhelmed homebuyers. The hearing by a House oversight subcommittee focused on a proposal intended to simplify the papers that consumers sign when they're buying a house or refinancing their mortgage. Advocates want ... (Wed, 17 Sep 2008 11:36:39 GMT)
Lower mortgage rates cause jump in refinance applications
Many homeowners sought to take advantage of lower interest rates and refinance their mortgages last week, causing the total volume of mortgage applications filed to jump a seasonally adjusted 33.4% compared with the week before, according to the Mortgage Bankers Association’s weekly survey. (Wed, 17 Sep 2008 11:43:43 GMT)
Has your bank recently frozen your home equity loan or line of credit? If so, The Flint Journal would like to hear ...
GENESEE COUNTY, Michigan -- Have you been recently told that your home equity loan or line of credit has been frozen due to declining property values? If this is the case and you live in the Genesee County, Michigan, area,... (Wed, 17 Sep 2008 12:10:30 GMT)
Mortgage Applications Jump To 4 Month High
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume jumped over 33 percent last week, soaring to its highest levels since early May. This came as people took advantage of as low mortgage rates, sparking a wave of refinancing. (Wed, 17 Sep 2008 12:42:48 GMT)
HBOS stock in distress, FTSE shares in spin
Shares in the top home-loan lender HBOS swung wildly on Wednesday as it said it might be taken over, spinning London stocks into volatile uncertainty after an overnight rescue for US insurer AIG. (Wed, 17 Sep 2008 13:03:46 GMT)
Florida told to get tough on home loan industry
More than 10,000 people with criminal histories were allowed to sell mortgages during the housing boom State legislators should broaden regulation of Florida's home loan industry, according to an investigation detailing the state's failure to police the mortgage industry during the boom years. (Wed, 17 Sep 2008 13:17:00 GMT)
US Rep Frank: May Need To Amend Mortgage Servicing Laws
WASHINGTON -(Dow Jones)- U.S. lawmakers may need to alter laws governing mortgage servicing companies in order to give them more flexibility to modify troubled mortgage loans, a top U.S. House of Representatives lawmaker said Wednesday. (Wed, 17 Sep 2008 14:43:02 GMT)
Lloyds TSB Is in Talks to Buy Mortgage Lender HBOS (Update2)
Sept. 17 (Bloomberg) -- Lloyds TSB Group Plc , the bank that considered buying Northern Rock Plc before it collapsed, is in talks to acquire HBOS Plc after the mortgage lender lost three- quarters of its stock market value this year. (Wed, 17 Sep 2008 15:18:56 GMT)
Report says criminals got Fla. mortgage licenses
State regulators failed to comply with a law designed to keep convicted criminals from working in Florida's mortgage industry and more legislation is needed, according to an investigative report issued Tuesday. (Wed, 17 Sep 2008 15:33:00 GMT)
Former IndyMac exec appointed Comstock Mortgage president
Comstock Mortgage on Wednesday named Gary Clark as the company’s new president. (Wed, 17 Sep 2008 15:48:00 GMT)
Chase Corp, Entergy Mississippi 6% Series First Mortgage Bonds and Finish Line lead small-cap percentage losers
Chase Corp. , Entergy Mississippi 6% Series First Mortgage Bonds Exp 01 No. and Finish Line Inc. are among the biggest percentage losers in Wednesday's... (Wed, 17 Sep 2008 16:49:58 GMT)
Lloyds TSB Is in Talks to Buy Mortgage Lender HBOS (Update3)
Sept. 17 (Bloomberg) -- Lloyds TSB Group Plc , the bank that considered buying Northern Rock Plc before it collapsed, is in talks to acquire HBOS Plc after the mortgage lender lost three- quarters of its market value this year. (Wed, 17 Sep 2008 17:04:05 GMT)
HBOS in talks to be bought by Lloyds TSB
Troubled British bank HBOS, the country's biggest home loan provider, said Wednesday it was in advanced talks that could lead to a takeover offer by its domestic rival Lloyds TSB. (Wed, 17 Sep 2008 17:15:47 GMT)
Fannie, Freddie collapse could help home loan borrowers
WASHINGTON (AP) - The government’s takeover of mortgage finance companies Fannie Mae and Freddie Mac should provide an opportunity to modify more home loans for troubled borrowers, a top government official said Wednesday. (Wed, 17 Sep 2008 17:43:51 GMT)
HBOS confirms merger talks with Lloyds TSB
HBOS may merge with Lloyds to raise cash needed to refinance its $180 million debt linked to U.S. subprime mortgage market. (Wed, 17 Sep 2008 18:22:26 GMT)
Applications to refinance mortgages surge as rates drop below 6%
Homeowners rushed to take advantage of the drop in interest rates following the government's takeover of Fannie Mae and Freddie Mac, data released Wednesday showed. (Wed, 17 Sep 2008 18:26:03 GMT)
Attorney general offers little help with questionable refinance offers
Mortgage fix or scam? It’s difficult to tell. The question of which offers carry the attorney general’s stamp of approval – and whether they cite the office with its permission – has led to confusion among some borrowers trying to dig themselves out from a mortgage mess. (Wed, 17 Sep 2008 18:41:58 GMT)
Akron lawyer named in mortgage-fraud case
An Akron defense lawyer has been named with others as an alleged conspirator in a 106-count indictment charging 19 individuals with mortgage fraud in Summit County. (Wed, 17 Sep 2008 18:58:49 GMT)
Applications to refinance mortgages surge
Refinance applications jump 88% from prior week as 30-year fixed-rate mortgage drops to 5.82%. (Wed, 17 Sep 2008 19:11:17 GMT)
Finance and Commerce is the must-read and must-use business resource.
Mortgage applications in the United States jumped last week as refinancing soared on falling interest rates. (Wed, 17 Sep 2008 19:30:09 GMT)
Battered by Crisis, British Mortgage Lender HBOS Talks Merger With Lloyds
LONDON, Sept. 17 -- Britain's biggest mortgage lender, HBOS, severely bruised by the global credit crisis and facing concerns that it might collapse, was in merger talks Wednesday with Lloyds. (Wed, 17 Sep 2008 20:51:50 GMT)
Applications to refinance home mortgages surge
Homeowners rushed to take advantage of last week's drop in interest rates following the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. A mini-refinance boom... (Wed, 17 Sep 2008 20:58:26 GMT)
Guilty plea in San Diego home loan fraud case
An Oceanside man has pleaded guilty to using the identities of other to obtain about $1.8 million in fraudulent home loans. Read comments (Wed, 17 Sep 2008 21:27:10 GMT)
Economy - Wednesday
The Mortgage Bankers Assn.'s applications index hit a 4-month high of 661.7. Refinancing demand rose as interest rates fell 0.24 percentage point 15 an average 5.82%. "The drop in mortgage rates reflected the Treasury's announcement that Fannie Mae and Freddie Mac were placed under conservatorship of the Federal Housing Finance Agency," said Orawin Velz, MBA vice president of economic ... (Wed, 17 Sep 2008 22:36:46 GMT)
Mortgage applications surge in week
The volume of applications for U.S. mortgages increased dramatically last week, rising by a seasonally adjusted 33.4 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, rose from 496.2 to 661.7 in the week ending Sept. 12, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also soared, up 88.1 percent to ... (Thu, 18 Sep 2008 00:01:38 GMT)
More are rushing to refinance mortgage
Homeowners rushed to take advantage of last week's drop in interest rates, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 00:26:15 GMT)
Mini-Refinance Boom Cools
Mortgage Rates Rising Again On Fears Tied To Financial Markets Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 01:57:50 GMT)
Jump in Mortgage Rates Disappoints Home Buyers
Mortgage rates have jumped even as rates on Treasurys have fallen, disappointing homeowners and potential buyers. (Thu, 18 Sep 2008 03:12:51 GMT)
Homeowners rush to refinance
A mini-refinance boom started last Thursday but ended early Monday. (Thu, 18 Sep 2008 04:19:59 GMT)
Man Pleads Guilty In San Diego Home Loan Fraud Case
An Oceanside man has pleaded guilty to using the identities of others to obtain about $1.8 million in fraudulent home loans. Prosecutors reported Wednesday that 63-year-old Robert Decker entered a guilty plea on Tuesday in San Diego Superior Court . He faces up to six years in prison when he is sentenced Oct. 14. (Thu, 18 Sep 2008 04:47:36 GMT)
Florida told to get tough on home loan industry
More than 10,000 people with criminal histories were allowed to sell mortgages during the housing boom State legislators should broaden regulation of Florida's home loan industry, according to an investigation detailing the state's failure to police the mortgage industry during the boom years. (Thu, 18 Sep 2008 04:55:48 GMT)
St George cuts fixed home loan rates
ST George is cutting its fixed interest rate home loans by up to a quarter of a percentage point. (Thu, 18 Sep 2008 05:41:00 GMT)
Is Now the Time to Refinance Your Home?
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? (Thu, 18 Sep 2008 05:45:05 GMT)
Brief drop in interest rates leads to surge in applications for mortgage refinancing
NEW YORK -- Homeowners rushed to take advantage of last week's drop in interest rates following the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 06:09:58 GMT)
Mortgage refinance boom short-lived
Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 06:17:45 GMT)
Lloyds TSB Agrees to Buy Mortgage Lender HBOS for $22.2 Billion
Sept. 18 (Bloomberg) -- Lloyds TSB Group Plc , the bank that considered buying Northern Rock Plc, agreed to acquire HBOS Plc for about 12.2 billion pounds ($22.2 billion) to create a lender that controls more than a quarter of the U.K. mortgage market. (Thu, 18 Sep 2008 06:33:56 GMT)
Refinancing applications surge
Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac. But rates are rising again on investor fears about the eroding conditions in financial markets. A mini-refinance boom started Thursday but ended early Monday, said Pava Leyrer, president of Heritage National Mortgage in Michigan. The average rate on a 30-year, ... (Thu, 18 Sep 2008 06:59:34 GMT)
Britain's biggest mortgage lender in $22 billion sale
Lloyds TSB PLC on Thursday announced a 12.2 billion-pound (US$21.85-billion) deal to take over struggling HBOS PLC, Britain's biggest mortgage lender. (Thu, 18 Sep 2008 07:04:21 GMT)
Mortgage rates dive, aiding refinancers
Jennifer Panganiban watched the charts all year, from the January lows through the highs of July. A week ago she and her husband pounced, locking in a 30-year mortgage at 5.875 percent. (Thu, 18 Sep 2008 07:24:00 GMT)
A mini-boom in home refinancing ends as rates begin to rise again
NEW YORK - Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears over the eroding conditions in financial markets. (Thu, 18 Sep 2008 07:58:28 GMT)
Mortgage lending slumps in August
Mortgage lending continued its downward spiral in August, according to the latest figures from mortgage lenders. (Thu, 18 Sep 2008 09:15:37 GMT)
London Markets: Mortgage lender HBOS shares soar in higher London
Mortgage bank HBOS once again takes center stage in London on Thursday, with shares of the lender rising sharply after it agrees to be taken over by rival Lloyds TSB in a move backed by the British government. (Thu, 18 Sep 2008 09:28:34 GMT)
Lloyds to take over UK mortgage lender HBOS
LONDON, England (AP) -- Lloyds TSB, Britain's largest provider of checking accounts, on Thursday announced a £12.2 billion ($21.85-billion) deal to take over struggling HBOS, Britain's biggest mortgage lender. (Thu, 18 Sep 2008 09:32:53 GMT)
Mortgage rates go down, then up again
The benchmark 30-year fixed-rate mortgage rose 1 basis point, to 6.16 percent, according to the Bankrate.com national survey of large lenders. (Thu, 18 Sep 2008 10:00:00 GMT)
Mortgage lending hits three-year low, says CML
Amount lent to borrowers has dropped 36% over the past 12 months, says Council of Mortgage Lenders (Thu, 18 Sep 2008 10:00:08 GMT)
UK mortgage lending in August down 36 percent
Mortgage lending in Britain was down 36 percent in August compared to a year ago, the Council of Mortgage Lenders said Thursday. (Thu, 18 Sep 2008 10:09:33 GMT)
Home Repair Scam Appears to Target Military Families
By Donna Miles - The letter that appeared in a soldier's mailbox promised an offer almost too good to be true: a home improvement loan approved by Congress and backed up by a government agency. (Thu, 18 Sep 2008 10:20:23 GMT)
Florida Attorney General files mortgage fraud suit
The Florida Attorney General's Office is suing 10 companies and 15 individuals for their alleged roles in a major mortgage fraud scheme. (Thu, 18 Sep 2008 11:01:44 GMT)
Mortgage lending tumbles to 3-year low
Threats of a recession and battered consumer confidence deterred homebuyers last month, sending mortgage lending to its lowest in over three years. (Thu, 18 Sep 2008 11:25:00 GMT)
Citizens extends home-loan discount program to public
Citizens Financial Group is extending an employee-discount program for home equity and mortgage loans to the public. In the program, which started Sept. 10, customers are (Thu, 18 Sep 2008 11:33:14 GMT)
Mortgage start rates rising again, ending brief boom in refinancing
NEW YORK - Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 12:49:21 GMT)
Home-loan modifications seen with Fannie, Freddie takeover
WASHINGTON - The government's takeover of mortgage-finance companies Fannie Mae and Freddie Mac should provide an opportunity to modify more home loans for troubled borrowers, government officials said Wednesday. (Thu, 18 Sep 2008 12:50:22 GMT)
Mortgage start rates rising again, ending brief boom in refinancing
NEW YORK - Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 12:50:44 GMT)
Home-loan modifications seen with Fannie, Freddie takeover
WASHINGTON - The government's takeover of mortgage-finance companies Fannie Mae and Freddie Mac should provide an opportunity to modify more home loans for troubled borrowers, government officials said Wednesday. (Thu, 18 Sep 2008 12:51:03 GMT)
Jump in Mortgage Rates Disappoints Home Buyers
Mortgage rates have jumped even as rates on Treasurys have fallen, disappointing homeowners and potential buyers. (Thu, 18 Sep 2008 13:34:20 GMT)
New lending rules make it harder to get a home loan
SPOKANE--If you want to buy a home, you may want to think about buying now. Fannie Mae just announced that as of December the guidelines will tighten, which will change how much you can borrow on a property or refinance. (Thu, 18 Sep 2008 13:54:02 GMT)
Mortgages: Fifth straight weekly decline has 30-year mortgage near year low
Mortgage rates fell again this week, sending the rate on the 30-year fixed-rate mortgage down for a fifth straight week to its lowest level since February, Freddie Mac reported on Thursday. (Thu, 18 Sep 2008 15:00:35 GMT)
Mortgage rates fall for 5th straight week
WASHINGTON, Sept. 18 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the fifth straight week, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 18 Sep 2008 15:05:13 GMT)
Mortgage refinance boom short-lived
Homeowners rushed to take advantage of last week's drop in interest rates after the government's takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets. (Thu, 18 Sep 2008 15:55:17 GMT)
Lloyds TSB buying British mortgage lender HBOS
British bank Lloyds TSB PLC is buying struggling HBOS PLC, the country's biggest mortgage lender, in a $22 billion deal blessed by the government for a prominent casualty of the global credit crisis. (Thu, 18 Sep 2008 17:33:43 GMT)
Florida Attorney General's Office Files Mortgage Fraud Suit
The Florida Attorney General's Office is suing 10 companies and 15 individuals for their alleged roles in a major mortgage fraud scheme. (Thu, 18 Sep 2008 19:27:22 GMT)
Lloyds TSB buying British mortgage lender HBOS
LONDON -- British bank Lloyds TSB PLC is buying struggling HBOS PLC, the country's biggest mortgage lender, in a $22 billion deal blessed by the government for a prominent casualty of the global credit crisis. (Thu, 18 Sep 2008 20:50:06 GMT)
Suit alleges large Florida mortgage fraud
ST. PETERSBURG, Fla., Sept. 18 (UPI) -- Florida prosecutors filed suit against 10 companies and 15 people they say were involved in a $37 million real estate straw mortgage scheme. (Thu, 18 Sep 2008 21:49:42 GMT)
Home loan program helps fight foreclosure
A new home loan program could be the difference between saving your home and foreclosure. The Save the Dream initiative is a state-funded program. Banks are using it to help refinance mortgages for homeowners with low credit scores or missed mortgage payments. (Thu, 18 Sep 2008 22:31:38 GMT)
Realty Q&A: How to get a U.S. mortgage without a U.S. credit record
I am living in Ohio, having recently shifted to the U.S., and am employed at a university hospital. I want to get a mortgage to buy a house, but I have no credit history in this country. Can you tell me how I can get loan? (Thu, 18 Sep 2008 23:28:43 GMT)
Home loan program helps fight foreclosure
Story By Sheena Elzie Posted on Thursday, September 18, 2008 at 6:27 p.m. A new home loan program could be the difference between saving your home and foreclosure. The Save the Dream initiative is a state-funded program. (Fri, 19 Sep 2008 01:01:36 GMT)
Getting a home loan getting tricky in rough market
DENVER - Even as the government takes action to help our troubling economy, many Americans are finding it harder to make big purchases in this economic crisis; many finding it harder to get a loan. (Fri, 19 Sep 2008 01:26:25 GMT)
Mortgage lending plunges to three-year low
A stagnating housing market pushed mortgage lending down to its lowest level for more than three years during August, figures showed yesterday. (Fri, 19 Sep 2008 02:41:27 GMT)
The Pain of Selling a Home for Less Than the Loan
Instead of writing off an unpaid portion of a mortgage debt, banks want homeowners to sign a note promising to pay some or all of the balance due after the home is sold. (Fri, 19 Sep 2008 03:31:53 GMT)
Feds work on plan to rescue banks from bad mortgage debt
In what would be the first comprehensive government effort to get control of the spreading and increasingly frightening Wall Street financial crisis, Treasury Secretary Henry Paulson said last night the administration is developing a plan to rescue banks from bad mortgage debt. (Fri, 19 Sep 2008 03:49:22 GMT)
Mortgage rates hit 7-month low
WASHINGTON — Rates on 30-year mortgages dropped sharply again this week, falling to the lowest level in seven months, as rates continue to decline following the government’s dramatic takeover of mortgage giants Fannie Mae and Freddie Mac. (Fri, 19 Sep 2008 05:31:12 GMT)
Peterson's ex-girlfriend falls behind on mortgage
FRESNO – Amber Frey, who was thrust into the national spotlight as the former girlfriend of convicted murderer Scott Peterson, has fallen behind on mortgage payments and may lose her Clovis home to foreclosure, according to Fresno County records. (Fri, 19 Sep 2008 07:16:35 GMT)
30-year mortgage rates plummet again
WASHINGTON – Rates on 30-year mortgages dropped sharply again this week, falling to the lowest level in seven months, as rates continue to decline following the government’s dramatic takeover of mortgage giants Fannie Mae and Freddie Mac. (Fri, 19 Sep 2008 08:06:35 GMT)
Wall Street Destroying America's Credit And The Mortgage Market
"How The Greed Of Wall Street And Your Mortgage Lender Are Destroying America's Credit" is a new book just published by National Mortgage Expert Joe Gross, Host Of America's #1 Mortgage Talk Show "Your Home - Your Future" on 1160 WVNJ Thursdays at 2 p.m. (PRWeb Sep 19, 2008) Read the full story at http://www.prweb.com/releases/2008/09/prweb1318994.htm (Fri, 19 Sep 2008 09:23:54 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. (Fri, 19 Sep 2008 09:35:11 GMT)
Late mortgage payments may delay Shoreham center
Tall Grass Village Center, a proposed mixed-used development on 320 acres in Shoreham, appears endangered because the seller of the property says the developer is more than $7.5 million behind in mortgage payments. (Fri, 19 Sep 2008 09:49:51 GMT)
30-year mortgage rate at seven-month low
Rates on 30-year mortgages dropped to 5.78 percent this week, down from 5.93 percent last week, Freddie Mac reported in its nationwide survey. It was the fifth consecutive weekly decline and pushed the 30-year mortgage to the lowest level since it stood at 5.72 percent the week of Feb. 14. (Fri, 19 Sep 2008 10:10:45 GMT)
Refinancing wave rides mortgage-rate dive
Jennifer Panganiban watched the charts all year, from the January lows through the highs of July. A week ago, she and her husband pounced, locking in a 30-year mortgage at 5.875 percent. (Fri, 19 Sep 2008 10:25:59 GMT)
Mortgage rates sink after Fannie-Freddie takeover
Rates on 30-year mortgages dropped sharply again this week, falling to the lowest level in seven months, as rates continue to decline following the government's takeover of mortgage giants Fannie Mae and Freddie Mac. (Fri, 19 Sep 2008 12:55:59 GMT)
Rates Favor Refi Jump, But Many Borrowers Too Weak
Normally, when mortgage rates drop more than half a point (as they have since mid-August) and applications to refinance nearly double (as they did last week), lenders would expect a big jump in refi production. (Fri, 19 Sep 2008 14:06:16 GMT)
Paulson: Need To Take Bad Mortgage Assets Away From Financial Institutions
(RTTNews) - Treasury Secretary Henry Paulson said Friday that the government must set up a program to remove illiquid mortgage-based assets from the balance sheets of financial institutions. (Fri, 19 Sep 2008 14:27:12 GMT)
Countrywide cyber-breach hits Savannah loan customer
The vice president of the Savannah AARP chapter was one of possibly millions of Countrywide Home Loan customers across the nation who were the victims of a security breach at the hands of two California men, one of them a former employee. Elaine E. Long, who is also a crossing guard at White Bluff Elementary, filed a report Sept. 12 with the Savannah-Chatham police after she received a letter ... (Fri, 19 Sep 2008 14:32:57 GMT)
Paulson says Fannie, Freddie will buy more mortgage
WASHINGTON - Treasury Secretary Henry Paulson says mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market. (Fri, 19 Sep 2008 14:34:27 GMT)
Paulson announces more help for mortgage markets
WASHINGTON -- Treasury Secretary Henry Paulson announced Friday that mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market. (Fri, 19 Sep 2008 14:52:34 GMT)
Fitch Takes Various Actions on 1 GS Mortgage Securities Corporation NIM Transaction
Fitch Ratings has taken the following rating actions on 1 GS Mortgage Securities Corp. NIM transactions: (Fri, 19 Sep 2008 17:02:18 GMT)
Va. man sentenced in mortgage fraud scheme
A mortgage broker from Norfolk has been sentenced to four years in federal prison in a mortgage fraud case involving a home in northern Virginia. (Fri, 19 Sep 2008 17:26:24 GMT)
Va. man sentenced in mortgage fraud scheme
Associated Press - September 19, 2008 1:33 PM ET ALEXANDRIA, Va. (AP) - A mortgage broker from Norfolk has been sentenced to four years in federal prison in a mortgage fraud case involving a... (Fri, 19 Sep 2008 17:39:56 GMT)
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