Mortgage News Sep 2008

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U.K. mortgage firm Bradford & Bingley to be nationalized: Journal
After months of searching for a private buyer for Bradford & Bingley Plc, U.K. authorities have decided to nationalize the beleaguered mid-sized mortgage lender, The Wall Street Journal reported in its online edition on Sunday. (Sun, 28 Sep 2008 07:42:47 GMT)

Check stocks for effects of credit squeeze
Congress' bailout bill will, we hope, help stabilize the credit markets, but investors must still evaluate each of their stocks for credit risks individually. As you probably know, the credit market problems stem from bad mortgage loans that were bundled and... (Sun, 28 Sep 2008 07:47:59 GMT)

Refinancing rentals tricky these days
I wish to refinance my rental property (a townhouse). I have been advised that doing a cash-out refinance isn't possible in today's climate, and that if I want to take cash out of the transaction, I have to refinance using an equity loan. (Sun, 28 Sep 2008 07:52:38 GMT)

MORTGAGE CRISIS CUTS BOTH WAYS
She was only 21 when she decided to become a mortgage broker. A newlywed, Michelle LaPiana felt that her own broker had misled her and her husband during the daunting purchase of their first home in Hialeah. (Sun, 28 Sep 2008 08:01:46 GMT)

Teacher hit by home repair bill
A TEACHER still paying off her student loan is the latest victim of Eastbourne Homes's policy of charging council house owners a percentage of the cost of home improvements made under its Decent Homes programme. (26/09/2008 09:24:47) (Sun, 28 Sep 2008 08:09:50 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, 28 Sep 2008 08:38:57 GMT)

Despite Industry Woes, Mortgage Lender Survivors Turn Out for NEMBC Summit
By Amy Wyeth "Are these the people responsible for the financial mess this country is in?” a worker at Wednesday’s New England Mortgage Banking Conference welcoming reception wondered aloud. (Sun, 28 Sep 2008 09:07:42 GMT)

Despite Industry Woes, Mortgage Lender Survivors Turn Out for NEMBC Summit
"Are these the people responsible for the financial mess this country is in?” a worker at Wednesday’s New England Mortgage Banking Conference welcoming reception wondered aloud. (Sun, 28 Sep 2008 09:09:52 GMT)

Appraisal value needs an update
If you're selling, refinancing, renovating, or even to be sure your property tax bill is on target, you need an up-to-date appraisal. (Sun, 28 Sep 2008 09:37:05 GMT)

Federal Savings Bank loan program eases winter load
DOVER and#8212; James J. O'Neill, Jr., Federal Savings Bank executive vice president and COO, recently announced a loan program being offered through March 31, 2009, to the bank's core market areas of New Hampshire and southern Maine. The program is... (Sun, 28 Sep 2008 10:07:49 GMT)

Golden West deal has hobbled Wachovia
Wachovia's biggest deal ever – the 2006 purchase of mortgage specialist Golden West Financial – may lead to an even bigger one: the Charlotte bank's own takeover. Amid disconcerting times for most financial institutions, Wachovia's distressed $122 billion Pick-A-Payment loan portfolio, which the bank inherited in the acquisition, is a particularly heavy weight that threatens to drag the bank ... (Sun, 28 Sep 2008 10:49:24 GMT)

A harder time finding home loans
It's going to be more difficult and expensive to get a mortgage, as consumers in Western New York and nationwide have to jump through added hoops or pay a little more in interest or fees, local bankers and mortgage brokers said. (Sun, 28 Sep 2008 11:10:06 GMT)

Mortgage door open: Opportunity knocks for some
Mortgage rates these days are going up and down as the Bush administration's proposed $700 billion bailout plan to shore up troubled financial institutions and markets lumbers through Congress. (Sun, 28 Sep 2008 11:34:30 GMT)

State, mortgage broker settle suit
A Cincinnati mortgage broker has paid the State of Ohio $30,000 to settle a lawsuit alleging predatory lending practices. (Sun, 28 Sep 2008 11:44:35 GMT)

U.K. government to take control of troubled mortgage lender
Britain will nationalize the troubled mortgage lender Bradford & Bingley and is discussing the sale of its accounts and branches, people in the banking industry said Sunday. (Sun, 28 Sep 2008 12:57:29 GMT)

Bi-partisan support for Govt mortgage relief
Federal Opposition leader Malcolm Turnbull says the Government has Coalition support for a plan to boost the mortgage market. (Sun, 28 Sep 2008 13:28:34 GMT)

British media say mortgage lender Bradford & Bingley to be nationalized
LONDON - British media say troubled mortgage lender Bradford & Bingley is to be nationalized and sold off in parts. (Sun, 28 Sep 2008 15:30:33 GMT)

Reports: British mortgage lender to be nationalized
Troubled British mortgage lender Bradford & Bingley is to be nationalized and sold off in parts, British media reported Sunday. (Sun, 28 Sep 2008 15:35:17 GMT)

British media: Troubled mortgage lender to be nationalized
LONDON (AP) - The impact of the housing crisis is spreading, causing the demise of another big mortgage lender in Britain. British media are reporting that Bradford & Bingley is to be nationalized and sold off in parts. (Sun, 28 Sep 2008 16:31:49 GMT)

HOME PAGE
HCL ties up £400-m loan for Axon offer at 6.5% New Delhi, Sept. 28 HCL Technologies, which rivaled Infosys’ bid for Axon Group, has tied up the £400-million loan component to fund its offer, at an attractive interest rate of about 6.5 per cent per annum, based on the current ... (Sun, 28 Sep 2008 18:14:39 GMT)

Subprime mortgage for yuppies?
Is it a subprime mortgage for upward mobile professionals? (Sun, 28 Sep 2008 18:56:07 GMT)

British media: Troubled mortgage lender to be nationalized
Associated Press - September 28, 2008 12:13 PM ET LONDON (AP) - The impact of the housing crisis is spreading, causing the demise of another big mortgage lender in Britain. (Sun, 28 Sep 2008 19:49:04 GMT)

German mortgage bank near bankruptcy: report
Germany's Hypo Real Estate, a mortgage bank, is on the brink of bankruptcy, the daily Financial Times Deutschland reported in an advance copy of its Monday edition. (Sun, 28 Sep 2008 20:31:39 GMT)

German mortgage bank near bankruptcy: report
People walk past the Berlin branch of the German bank Hypo Real Estate in January 2008. Hypo Real Estate, a mortgage bank, is on the brink of bankruptcy, the daily Financial Times Deutschland reported in an advance copy of its Monday edition. (Sun, 28 Sep 2008 20:56:30 GMT)

British Mortgage Giant B&B Slides to Nationalization
Top-level talks are continuing ahead of the British treasury’s announcement that Bradford & Bingley, a troubled mortgage bank, is to be nationalized, according to the Times of London. (Sun, 28 Sep 2008 21:43:04 GMT)

Troubled homeowners eye new help
A new program takes effect on Wednesday to help people struggling to keep their homes and others already going through foreclosure. Legislation signed into law takes effect Oct. 1 that allows HUD's Federal Housing Administration to continue providing targeted mortgage assistance to homeowners. (Sun, 28 Sep 2008 23:42:25 GMT)

Reports: Britain to nationalize mortgage lender Bradford & Bingley
The troubled mortgage lender Bradford & Bingley is to be nationalized and sold off in parts, British media reported Sunday. (Sun, 28 Sep 2008 23:52:49 GMT)

Casualty of the decline of the buy-to-let mortgage
Aware it was never going to be the UK's biggest mortgage bank, Bradford & Bingley chose to specialise (Mon, 29 Sep 2008 00:52:43 GMT)

German mortgage bank rescued from bankruptcy
BERLIN: Germany's Hypo Real Estate, a mortgage bank, said on Monday that it had been rescued from bankruptcy after receiving "sufficient" facilities from a German bank consortium. (Mon, 29 Sep 2008 01:58:39 GMT)

German mortgage bank rescued from bankruptcy
Germany's Hypo Real Estate, a mortgage bank, said that it had been rescued from bankruptcy after receiving "sufficient" facilities from a German bank consortium. (Mon, 29 Sep 2008 02:04:04 GMT)

Australia's Mortgage Plan May Push Lenders to Pass On Rate Cuts
Sept. 29 (Bloomberg) -- Australia's purchase of A$4 billion ($3.3 billion) of mortgage-backed securities to revive frozen markets for the debt may increase competition in the banking industry and encourage lenders to pass on any interest rate cuts. (Mon, 29 Sep 2008 02:35:45 GMT)

City renters could be next victims of mortgage mess
An increasing number of apartment complexes face possible foreclosure and thousands of city renters could be the next victims of the mortgage crisis, housing advocates warn. (Mon, 29 Sep 2008 03:12:05 GMT)

One eye on home deals, another on the bailout
As a government rescue for lenders looms, home buyers and sellers are watching to see just what it might mean for them. (Mon, 29 Sep 2008 03:19:00 GMT)

A Bill Encouraging to Distressed Homeowners, but Its Reach Is Unclear
The bailout package should ease tight credit and hold down interest rates. But it does not go as far as some Democrats would have liked in helping distressed homeowners. (Mon, 29 Sep 2008 03:32:58 GMT)

(AFX UK Focus) 2008-09-29 04:15 Australia government mortgage plan stirs doubts
SYDNEY, Sept 29 (Reuters) - Australia's plans to invest A$4 billion in mortgage-backed securities to boost competition in home-lending were welcomed by industry groups, but insiders doubt it will be enough to ultimately bring down mortgage rates. (Mon, 29 Sep 2008 03:46:21 GMT)

A Bill Encouraging to Distressed Homeowners, but Its Reach Is Unclear
The bailout package should ease tight credit and hold down interest rates. But it does not go as far as some Democrats would have liked in helping distressed homeowners. (Mon, 29 Sep 2008 04:39:01 GMT)

'Priceless' classic automobile comes home at last
MARTINSBURG - The last remaining classic car that was manufactured in Martinsburg in 1914 was welcomed back home Sunday afternoon, when a local foundation sponsored a picnic at Poor House Farm Park to celebrate the Norwalk Underslung Six. Members of the club, Friends of the Norwalk Foundation Inc. (Mon, 29 Sep 2008 05:03:26 GMT)

More Ohioans feeling house poor
DAYTON — More Ohioans are struggling to pay for necessities such as food and health care because the percentage of their income going to housing expenses has grown, a newspaper reported Sunday. The number of mortgage-holders in Ohio who spend 30 percent or more of their household incomes on housing leaped by more than 60 percent [...] (Mon, 29 Sep 2008 05:17:34 GMT)

Germany's Hypo Real Estate secures credit rescue
Munich - German mortgage bank Hypo Real Estate has been rescued in a last-minute deal by a consortium of banks to resolve a refinancing squeeze it faced, the group said early on Monday. Emergency talks yielded a result with a group of German banks ex... (Mon, 29 Sep 2008 05:38:48 GMT)

German mortgage bank rescued from bankruptcy
The German bank Hypo Real Estate (HRE) was granted a last-minute "multi-billion euro" credit line from a consortium of German banks that allowed it to avoid declaring bankruptcy, it said on Monday. (Mon, 29 Sep 2008 08:43:02 GMT)

August British net mortgage lending plunges
LONDON (MarketWatch) -- Net mortgage lending to individuals in the United Kingdom plunged to 143 million pounds ($263.6 million)in August, the Bank of England reported Monday, the lowest since the statistical series began in 1993 and a steep drop from the downwardly revised 2.998 billion pounds seen in July and the 9.135 billion pounds seen in August 2007. Mortgage approvals also fell to a ... (Mon, 29 Sep 2008 09:05:40 GMT)

Mortgage lending slumps says Bank
Mortgage lending collapsed in August, according to the latest figures from the Bank of England. (Mon, 29 Sep 2008 09:36:23 GMT)

Wachovia Option-ARM Mortgage Losses May Force Merger (Update2)
Sept. 29 (Bloomberg) -- Wachovia Corp. , under increasing pressure after shares of the sixth-biggest U.S. bank by assets plunged 47 percent last week, may be forced to seek a buyer or merger partner as losses from mortgage defaults mount. (Mon, 29 Sep 2008 11:22:55 GMT)

1914 Underslung Six returns home to Martinsburg
MARTINSBURG, W.Va. After being owned by a Colorado rancher 1,700 miles from Martinsburg, the car was back home. The bright yellow 1914 Norwalk Underslung Six with its Vulcan electric shifter considered to be an advanced concept for its time sat under a pavilion at Poor House Farm Park on Sunday and those responsible for its return could hardly believe their eyes. (Mon, 29 Sep 2008 11:23:33 GMT)

Wachovia Option-ARM Mortgage Losses May Force Merger (Update2)
Sept. 29 (Bloomberg) -- Wachovia Corp. , under increasing pressure after shares of the sixth-biggest U.S. bank by assets plunged 47 percent last week, may be forced to seek a buyer or merger partner as losses from mortgage defaults mount. (Mon, 29 Sep 2008 11:23:35 GMT)

Wachovia Option-ARM Mortgage Losses May Force Merger (Update2)
Sept. 29 (Bloomberg) -- Wachovia Corp. , under increasing pressure after shares of the sixth-biggest U.S. bank by assets plunged 47 percent last week, may be forced to seek a buyer or merger partner as losses from mortgage defaults mount. (Mon, 29 Sep 2008 11:24:45 GMT)

U.K. Nationalizes Mortgage Lender Bradford & Bingley
LONDON - The British government is nationalizing troubled mortgage lender Bradford & Bingley, the Treasury confirmed Monday, taking over the bank's 50 billion pound ($91 billion) mortgage and loan books as turmoil from the U.S. credit crisis spread across Europe. (Mon, 29 Sep 2008 11:30:14 GMT)

Five Home-buying Myths
(ARA) - As first-time homebuyers grow curious about the home-buying process, they often turn to friends and family for advice about purchasing a home. While these sources can provide useful tips and information, they also may perpetuate some common home-buying myths. (Mon, 29 Sep 2008 11:33:51 GMT)

U.K. Mortgage Approvals Fell to Lowest Since 1999 (Update2)
Sept. 29 (Bloomberg) -- U.K. mortgage approvals slid in August to the lowest since at least 1999 as the global credit squeeze prompted banks and building societies to curtail loans. (Mon, 29 Sep 2008 11:45:55 GMT)

U.K. Mortgage Approvals Fell to Lowest Since 1999 in August
Sept. 29 (Bloomberg) -- U.K. mortgage approvals slid in August to the lowest since at least 1999 as the global credit squeeze prompted banks and building societies to curtail credit. (Mon, 29 Sep 2008 11:48:27 GMT)

Germany Rescues Troubled Mortgage Lender Hypo Real Estate
Germany's government and top banks were injecting billions of euros Monday into troubled mortgage lender Hypo Real Estate (HRE) as it teetered on the brink of collapse. (Mon, 29 Sep 2008 11:57:29 GMT)

U.K. Mortgage Approvals Fell to Lowest Since 1999 (Update2)
Sept. 29 (Bloomberg) -- U.K. mortgage approvals slid in August to the lowest since at least 1999 as the global credit squeeze prompted banks and building societies to curtail loans. (Mon, 29 Sep 2008 12:11:59 GMT)

Home-loan approvals hit record low
Approvals of home loans sank to all-time lows in August amid a global squeeze on credit, the Bank of England revealed on Monday. (Mon, 29 Sep 2008 12:28:05 GMT)

Germany bails out mortgage lender Hypo Real Estate - Summary
Berlin - The banking crisis spread to Germany on Monday, with the government and fellow banks forced to throw a 35-billion-euro (50-billion-dollar) lifeline to Hypo Real Estate (HRE), a mortgage lender. The bail-out, the same day as Britain nationali... (Mon, 29 Sep 2008 13:24:18 GMT)

Federal Home Loan Bank of Cincinnati awards grants for home ownership, foreclosure prevention
The Federal Home Loan Bank of Cincinnati has designated $350,000 in home ownership challenge grants and $500,000 in foreclosure relief subsidies that will be distributed through various Kentucky banks. (Mon, 29 Sep 2008 13:26:47 GMT)

U.K. Nationalizes Troubled Mortgage Lender
The British government is nationalizing troubled mortgage lender Bradford & Bingley, taking over the bank's #50 billion ($91 billion) mortgage and loan books as turmoil from the U.S. credit crisis spread across Europe. (Mon, 29 Sep 2008 14:00:04 GMT)

Fund mulls sale of its housing loan assets
The NMI Retirement Fund is looking at selling its housing loan assets in a bid to streamline its portfolio. (Mon, 29 Sep 2008 14:13:22 GMT)

New York Mortgage Trust declares 16 cent dividend
New York Mortgage Trust Inc. said its board declared a regular quarterly dividend of 16 cents. The real estate investment trust said the dividend is payable Oct. 27 to shareholders of record Oct. 10. (Mon, 29 Sep 2008 14:29:17 GMT)

Bailout Bill Poses Whipping Challenge for Both Parties
Leaders of both parties in the House, but particularly Republicans, were whipping hard to line up votes Monday for a massive financial bailout bill worked out with the Bush administration over the weekend. (Mon, 29 Sep 2008 14:47:19 GMT)

Online Mortgages - The End of the Era of Loan Officers
The Loan Officer has met his end. (Mon, 29 Sep 2008 18:05:00 GMT)

Government mortgage report delayed after crisis
A crucial report that could kick-start Britain’s moribund mortgage market has been delayed by a fortnight so it can be updated to take September’s market turbulence into account. (Mon, 29 Sep 2008 18:36:59 GMT)

Federal Home Loan Bank of Atlanta Declares Third Quarter Dividend, Changes Dividend Schedule
The board of directors of Federal Home Loan Bank of Atlanta has approved an annualized dividend rate for the third quarter of 2.89 percent. This rate is equal to average three-month LIBOR for the period July 1, 2008 to Sept. 29, 2008. (Mon, 29 Sep 2008 18:59:00 GMT)

Foreclosure information fair starts at 8 p.m.
The Kentucky Housing Corp. is holding an information fair at 8 p.m. today (Monday) for homeowners nearing or facing foreclosure. Information will be available about budget counseling, refinancing and how to re-establish credit. You also an also learn more about home mortgage options and financial restructuring. The fair will be in the Patterson Ballroom of the Hyatt Regency in ... (Mon, 29 Sep 2008 19:37:41 GMT)

Bailout Bill Posed Whipping Challenge for Both Parties
The effort to persuade House members to vote for a massive financial bailout bill was singularly unsuccessful, with Republicans proving especially resistant to pleas from the Bush administration and their own leaders. (Mon, 29 Sep 2008 20:03:00 GMT)

Bailout Bill Posed Whipping Challenge for Both Parties
The effort to persuade House members to vote for a massive financial bailout bill was singularly unsuccessful, with Republicans proving especially resistant to pleas from the Bush administration and their own leaders. (Mon, 29 Sep 2008 20:03:17 GMT)

Credit Crunch: Getting the Loan You Need
Getting a loan is harder, but it's not impossible. (Mon, 29 Sep 2008 21:05:22 GMT)

Tempe resident gets creative in mortgage crisis
Tempe resident Char Aramdee has taken a new approach to the mortgage crisis. He's placed five-foot-tall handwritten signs in his yard that read "free house just take over mortgage," and "need help just take over payment." (Mon, 29 Sep 2008 21:12:58 GMT)

Wachovia sale brings credit crisis home
The credit crisis has felled several of the country's biggest financial firms, from Wall Street titans Bear Stearns and Lehman Brothers to Washington Mutual, the nation's largest savings and loan. (Mon, 29 Sep 2008 22:21:29 GMT)

(AFX UK Focus) 2008-09-29 23:05 UPDATE 1-Mortgage markets hit; US bailout plan voted down
NEW YORK, Sept 29 (Reuters) - U.S. mortgage-related markets fell or lagged rallies in Treasury debt on Monday as turmoil spread through the banking system and lawmakers shot down a $700 billion plan to free the market of bad debt. The U.S. House of Representatives unexpectedly rejected the Emergency Economic Stabilization Act seen by many investors as crucial to shoring up bank balance sheets. ... (Mon, 29 Sep 2008 22:31:42 GMT)

Home Loans For Veterans in Today's Economy
The economy is "melting" down and taxpayers will be left holding the bag. Will Veterans still get VA home loan benefits that they are entitled to? (Tue, 30 Sep 2008 00:03:24 GMT)

Two more admit guilt in mortgage scam
A real estate investor and a mortgage broker have admitted their roles in a scam fleecing lenders of millions of dollars in home loans. (Tue, 30 Sep 2008 00:12:49 GMT)

Merv Griffin's company sues Ed McMahon over loan
Court documents show a company founded by Merv Griffin is suing Ed McMahon for a $100,000 loan it claims has gone unpaid. (Tue, 30 Sep 2008 01:10:00 GMT)

Merv Griffin's company sues Ed McMahon over loan
Court documents show a company founded by Merv Griffin is suing Ed McMahon for a $100,000 loan it claims has gone unpaid. (Tue, 30 Sep 2008 01:10:00 GMT)

Merv Griffin's company sues Ed McMahon over loan
Court documents show a company founded by Merv Griffin is suing Ed McMahon for a $100,000 loan it claims has gone unpaid. The Griffin Group Inc. claims it loaned the money to McMahon, Johnny Carson's sidekick on the "Tonight" show, in 2005. The company filed the suit on Thursday and states that none of the loan has been repaid. (Tue, 30 Sep 2008 01:10:23 GMT)

Lloyds TSB raises mortgage rates as home loans plummet by 95% in ONE month
Mortgage rates continued to climb today with Lloyds TSB becoming the latest lender to announce a hike in the cost of its home loans. (Tue, 30 Sep 2008 01:35:53 GMT)

Pair indicted in mortgage fraud
Jeffery Z. Sayegh, of Cave Creek, and Kimberly R. Werking, of Phoenix, were indicted by the Arizona Attorney General's Office on five counts of forgery, one count of money laundering and one count of fraudulent schemes and artifices. Werking, 42, was also indicted on six counts of residential mortgage fraud, five counts of theft and one count of illegal control of an enterprise. (Tue, 30 Sep 2008 01:42:42 GMT)

Mortgage Lenders Fight Off Rescission Class Action in 7th Circuit
In a boon for the mortgage lending industry, the 7th Circuit has ruled that the Truth in Lending Act does not allow for rescission of mortgages on a class action basis. The court said the "personal character of the [rescission] remedy makes it procedurally and substantively unsuited to" class actions. An attorney for defendant Chevy Chase Bank noted that although the circuits are consistent in ... (Tue, 30 Sep 2008 01:45:58 GMT)

State must do its part in this crisis
California is at the forefront of exotic home loans, the resulting mortgage crisis and ripple effects on unemployment and slowed consumer spending... Reckless lending and lax oversight of state-regulated mortgage brokers and lenders helped get us where we are. That is what the state must change. (Tue, 30 Sep 2008 02:06:19 GMT)

Mortgage Rates Jump
Freddie Mac reported Thursday that its nationwide survey found that the average for 30-year, fixed-rate mortgages rose to 6.09 percent this week, up from 5.78 percent last week. Last week's rate had been the lowest level for 30-year rates since February. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, rose to 5.77... (Tue, 30 Sep 2008 03:28:25 GMT)

Dealing With Debt That Refuses to Die
A court ruling requires credit bureaus to clean up the credit files of millions of consumers who have filed for Chapter 7 bankruptcy. (Tue, 30 Sep 2008 03:28:31 GMT)

Home Mortgage approval harder to come by
An East Tennessee mortgage company said the number of potential home buyers receiving mortgage approval has been cut in half. (Tue, 30 Sep 2008 03:46:27 GMT)

Dealing With Debt That Refuses to Die
A court ruling requires credit bureaus to clean up the credit files of millions of consumers who have filed for Chapter 7 bankruptcy. (Tue, 30 Sep 2008 04:35:30 GMT)

Nonprofit Advisors Ready to Help Strapped Home Owners Find Hope
The Minnesota Home Ownership Center's nonprofit network of mortgage support advisors is ready and able to help struggling home owners navigate the federal HOPE Act, set to take effect on Oct. 1. (Tue, 30 Sep 2008 05:01:00 GMT)

Madigan: Borrowers not getting help they need
CHICAGO | Attorney General Lisa Madigan on Monday called on mortgage lenders to re-energize their efforts to reduce mortgage foreclosures in light of new data showing prevention attempts declined this year despite the rising number of homeowners in trouble. (Tue, 30 Sep 2008 06:07:31 GMT)

Make Yourself A More Attractive Mortgage Candidate
A variety of factors can keep you from qualifying for a mortgage . The big ones include a low credit score , insufficient income for the size of the loan you want, insufficient down payment and excessive debt. All of these factors are within your control, however. (Tue, 30 Sep 2008 08:10:14 GMT)

Home Sales Down in Hawaii
Our country's financial crisis is mainly due to bad mortgages and a stumbling housing industry. While Oahu home prices are holding fairly steady, there has been a dramatic decline in the number of sales. (Tue, 30 Sep 2008 08:30:11 GMT)

Q: With all the bank mergers and takeovers going on, what would happen if I had a mortgage loan with Wachovia or with ...
A: Those loan contracts become part of the deal. So if you had a WaMu mortgage, your new bank is JPMorgan Chase. (Tue, 30 Sep 2008 08:38:53 GMT)

(AFX UK Focus) 2008-09-30 11:18 Irish mortgage growth hits fresh 21-year low
DUBLIN, Sept 30 (Reuters) - Growth in lending to Ireland's private sector slowed to a six-year low in August, with a falling property market and faltering economy also pushing mortgage growth to its weakest level since mid-1987. Private sector credit growth slowed to an annual rate of 12.9 percent in August, the lowest since July 2002, Central Bank of Ireland data showed on Tuesday. July had ... (Tue, 30 Sep 2008 10:47:44 GMT)

Mortgage growth slowest since 1987
Figures from the Central Bank show that the annual rate of growth in mortgage lending dropped to its lowest level in 21 years in August. Residential mortgage lending was up 9% compared with the same month last year, the lowest annual rate since mid-1987. (Tue, 30 Sep 2008 10:53:57 GMT)

Mortgage market report delayed
A key report into the UK's mortgage market is being delayed for at least two weeks to take into account the recent financial turmoil, it has emerged. (Tue, 30 Sep 2008 11:18:51 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. (Tue, 30 Sep 2008 11:30:40 GMT)

Mortgage market shrinks as 500 deals are withdrawn
Around 500 mortgage products have been scrapped since the start of the week, says Moneyfacts (Tue, 30 Sep 2008 11:46:02 GMT)

Consumers: Caught in the Credit Squeeze
A failed rescue of foundering financial institutions (BusinessWeek.com, 9/29/08) could hit consumers where it hurts, making it harder for individuals to refinance mortgages and secure new-car loans, among other things. (Tue, 30 Sep 2008 12:08:42 GMT)

Accounting, disclosure investigated at mortgage giants
WASHINGTON (AP) _ Adding to their woes, mortgage finance giants Fannie Mae and Freddie Mac are facing a federal grand jury investigation into their accounting practices. (Tue, 30 Sep 2008 12:54:07 GMT)

Genworth reviews US mortgage insurance business
Mortgage insurer Genworth Financial Inc. said Tuesday that it is considering various strategic alternatives for its U.S. mortgage-insurance business including a possible spin off, sending shares sharply higher in premarket activity. (Tue, 30 Sep 2008 13:26:00 GMT)

Genworth Sets Review Of U.S. Mortgage-insurance Business
Genworth Sets Review Of U.S. Mortgage-insurance Business (Tue, 30 Sep 2008 13:50:21 GMT)

Fund mulls sale of its housing loan assets
The NMI Retirement Fund is looking at selling its housing loan assets in a bid to streamline its portfolio. (Tue, 30 Sep 2008 14:16:12 GMT)

Genworth says it may spin off mortgage insurance business
Genworth Financial says it may spin off its mortgage insurance business as the insurer tries to reduce its exposure to the housing crisis. (Tue, 30 Sep 2008 15:58:28 GMT)

Seagulls land Savage on loan
Brighton and Hove Albion have completed the signing of controversial Derby midfielder Robbie Savage on a one-month loan deal.The 33-year-old former Wales international has failed to hold onto a first-team place at Pride Park this season and has opted to drop down a division to link up with the Seagulls and Micky Adams - his former boss at Leicester. (Tue, 30 Sep 2008 16:00:20 GMT)

Merv Griffin's Company Suing Ed McMahon for $100,000 Loan
Court documents show a company founded by Merv Griffin is suing Ed McMahon for a $100,000 loan it claims has gone unpaid. (Tue, 30 Sep 2008 16:43:28 GMT)

Separate bailout for homeowners is expected
The new ''Hope for Homeowners" program, passed in late July, is scheduled to go into effect Wednesday. It's designed to allow refinancing for people who cannot pay their mortgage and who can't refinance into something better because their home value is now too low to pay off the unaffordable old loan. (Tue, 30 Sep 2008 17:29:33 GMT)

Thornburg Mortgage cuts 29 staffers
Mortgage lender Thornburg Mortgage Inc. said Tuesday it cut 29 jobs in its lending division amid turmoil in the financial services sector. (Tue, 30 Sep 2008 18:22:15 GMT)

Thornburg Mortgage lays off 29
Thornburg Mortgage laid off 29 employees Tuesday – half of them in its Santa Fe office – in response to the continued turmoil in the mortgage financing and credit markets. (Tue, 30 Sep 2008 18:43:31 GMT)

Ill. AG sues company over mortgage rescue claims
Illinois Attorney General Lisa Madigan has filed a lawsuit accusing a Pennsylvania company of running a mortgage rescue fraud scheme. (Tue, 30 Sep 2008 19:19:07 GMT)

Fitch Affirms Regions Mortgage's 'RPS2-' RMBS Servicer Ratings
Fitch Ratings has affirmed Regions Mortgage's (Regions) U.S. residential mortgage servicer ratings as follows: (Tue, 30 Sep 2008 19:30:45 GMT)

USDA ANNOUNCES 2008-CROP SUGAR LOAN RATES
WASHINGTON, Sept. 30, 2007 - The U.S. Department of Agriculture's Commodity Credit Corporation (CCC) today announced loan rates for 2008-crop sugar as required by the 2008 Farm Bill. The 2008-crop national average loan rate is 18 cents per pound for raw cane sugar and 22.90 cents per pound for refined beet sugar, unchanged from last year. (Tue, 30 Sep 2008 20:08:37 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for Third Quarter 2008
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco's Board of Directors has declared a dividend for the third quarter of 2008, to be determined in accordance with the Bank's Retained Earnings and Dividend Policy. (Tue, 30 Sep 2008 21:13:00 GMT)

Crombie REIT announces the closing of the $100 million refinancing of $280 million bridge loan
Crombie Real Estate Investment Trust is pleased to report that it closed today the previously announced mortgage financing with HBOS Canada to refinance $100 million of the bridge loan used to partially finance the portfolio acquisition of 61 properties completed on April 22, 2008. (Tue, 30 Sep 2008 21:15:00 GMT)

Federal Home Loan Bank of San Francisco Announces Projected Dividend Rate for Third Quarter 2008
The Federal Home Loan Bank of San Francisco´s Board of Directors has declared a dividend for (Tue, 30 Sep 2008 21:21:35 GMT)

Fannie and Freddie: Battered Stocks, Mortgage Bargains
Historic upheaval has also generated potentially historic bargains. (Tue, 30 Sep 2008 22:00:00 GMT)

Federal Home Loan Bank of San Francisco Releases August 2008 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced September 30, 2008, that the 11th District Monthly Weighted Average Cost of Funds Index for August 2008 is 2.693%. (Tue, 30 Sep 2008 22:08:00 GMT)

Federal Home Loan Bank of San Francisco Releases August 2008 Cost of Funds Index
The Federal Home Loan Bank of San Francisco announced September 30, 2008, that the 11th District Monthly (Tue, 30 Sep 2008 22:36:23 GMT)

Mortgage, financial experts answer your questions at 11 a.m.
Freep.com wants to help you with your questions on the nation's economic turmoil. We will have mortgage and financial experts online to answer questions at 11 a.m. Wednesday morning. Please send your questions to money@freepress.com or post them in the forum below. (Tue, 30 Sep 2008 22:59:36 GMT)

Valley pair indicted in mortgage scheme
A Cave Creek man and a Phoenix woman have been indicted on several felony forgery, money-laundering and fraudulent schemes counts in connection to an alleged equity skimming operation in Phoenix and north Scottsdale, the Arizona Attorney General's Office announced. (Tue, 30 Sep 2008 23:51:27 GMT)

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