Mortgage News Oct 2008

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U.S. mortgage rates rose in recent week
WASHINGTON, Oct. 16 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages rose in the week ending Oct. 16, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 16 Oct 2008 15:57:21 GMT)

Dodd not ready to release mortgage papers
HARTFORD, Conn., Oct. 16 (UPI) -- U.S. Sen. Christopher J. Dodd, D-Conn., says he is not prepared to release documents related to two controversial Countrywide Financial Corp. mortgages. (Thu, 16 Oct 2008 16:01:46 GMT)

Mortgage rates spike; home builders index at record low
The news was not good for home buyers or builders Thursday: Mortgage rates spiked and the National Association of Home Builders says its housing market index hit a record low. (Thu, 16 Oct 2008 17:19:27 GMT)

Merrill 3Q loss widens on mortgage-related charges
Investment bank Merrill Lynch & Co. said Thursday its third-quarter loss widened as it took more than $12 billion in charges and write-downs tied to the sale of mortgage investments and fallout from the continued credit crisis. (Thu, 16 Oct 2008 19:05:18 GMT)

30-year mortgage rates rise to eight-week high
Rates on 30-year mortgages jumped to the highest level in eight weeks, squeezing some potential homebuyers out of the market, and reflecting how nervous lenders remain despite the massive global intervention in the credit markets. (Thu, 16 Oct 2008 19:22:35 GMT)

Federal Home Loan Bank of Atlanta Enhances Collateral Operations with Leading Collateral Management Solution from ...
Rockall Technologies, a leading financial services solutions company, is delighted to announce that their systematic tracking of collateral management solution, STOC, was selected by the Federal Home Loan Bank of Atlanta . (Thu, 16 Oct 2008 19:32:00 GMT)

The Bank Bailout's Latest Casualty: Rising Mortgage Costs
The government's effort to boost bank lending to end the credit crisis is hurting one of the areas critical to the nation's recovery: mortgage rates (Thu, 16 Oct 2008 20:06:59 GMT)

Mortgage rates hit 8-week high
n Interest rate on 30-year, fixed-rate loan averages 6.46 percent (Thu, 16 Oct 2008 20:09:46 GMT)

Stevens Wife Says Home Improvements Made Without Her Knowledge
Oct. 16 (Bloomberg) -- The wife of U.S. Senator Ted Stevens told jurors at her husband's gift-hiding trial that a contractor made some improvements to their Alaska home without her knowledge and without sending her a bill. (Thu, 16 Oct 2008 20:15:23 GMT)

The Bank Bailout's Side Effect: Rising Mortgage Costs
The government's effort to boost bank lending to end the credit crisis is hurting one of the areas critical to the nation's recovery: mortgage rates (Thu, 16 Oct 2008 20:18:08 GMT)

Mortgage rates hit 8-week high
n Interest rate on 30-year, fixed-rate loan averages 6.46 percent (Thu, 16 Oct 2008 20:18:43 GMT)

30-year mortgage rates rise to eight-week high
WASHINGTON -- Rates on 30-year mortgages jumped to the highest level in eight weeks, squeezing some potential homebuyers out of the market, and reflecting how nervous lenders remain despite the massive global intervention in the credit markets. Mortgage giant Freddie... (Thu, 16 Oct 2008 20:57:47 GMT)

Merrill 3Q loss widens on mortgage-related charges
Investment bank Merrill Lynch & Co. said Thursday its third-quarter loss widened as it took more than $12 billion in charges and write-downs tied to the sale of mortgage investments and fallout from the continued credit crisis. (Thu, 16 Oct 2008 21:48:35 GMT)

Home-Loan Help Lags, As More Borrowing Goes Bad
Foreclosures helped spark financial world turmoil. But efforts to curb them, widely seen as needed to stabilize the housing market and support prices, show just modest progress. (Thu, 16 Oct 2008 21:51:39 GMT)

30-year fixed mortgage rates rise to eight-week high
Rates on 30-year mortgages jumped to the highest level in eight weeks, squeezing some potential home buyers out of the market, and reflecting how nervous lenders remain despite the massive global intervention in the credit markets. (Thu, 16 Oct 2008 23:38:58 GMT)

US attorney expects results in mortgage probe
The top federal prosecutor in Los Angeles indicated Thursday that charges will be filed in the coming months in a sweeping investigation of banks and subprime lenders for their role in the nation's mortgage crisis. "I think we are going to see some fairly... (Thu, 16 Oct 2008 23:44:06 GMT)

Anworth Mortgage announces quarterly dividend
Anworth Mortgage Asset Corp. on Thursday declared a quarterly common stock dividend of 25 cents per share for the third quarter. (Fri, 17 Oct 2008 00:12:14 GMT)

US attorney expects results in mortgage probe
The top federal prosecutor in Los Angeles indicated Thursday that charges will be filed in the coming months in a sweeping investigation of banks and subprime lenders for their role in the nation's mortgage crisis. (Fri, 17 Oct 2008 01:38:33 GMT)

Treasury plan pushes up US mortgage rates
US mortgage rates have soared this week in an unexpected reaction to the latest Treasury financial rescue plan, which has prompted investors to buy bank debt and sell bonds backed by home loans. (Fri, 17 Oct 2008 01:39:34 GMT)

Mortgage-fraud suspect faces sex charge
NEWARK, Ohio - A Licking County man who faces 30 charges in a widespread mortgage-rescue scam is now accused of trying to force a tenant to have sex with him in exchange for free rent. (Fri, 17 Oct 2008 01:45:10 GMT)

U.S. Attorney Expects Results Soon in Mortgage Probe
The top federal prosecutor in Los Angeles indicated Thursday that charges are coming soon from a sweeping investigation of banks and subprime lenders for their role in the nation's mortgage crisis. (Fri, 17 Oct 2008 03:56:30 GMT)

Mortgage rates rise to 8-week high
Rates on 30-year mortgages jumped to the highest level in eight weeks, squeezing some potential home buyers out of the market, and reflecting how nervous lenders remain despite the massive global intervention in the credit markets. (Fri, 17 Oct 2008 05:33:19 GMT)

ANZ leads more loan relief
THE ANZ Bank has cut its variable home loan interest rate again - in a shock move in the middle of the global economic crisis. (Fri, 17 Oct 2008 06:19:00 GMT)

ANZ heralds more home relief
THE ANZ Bank has cut its variable home loan interest rate again - in a shock move in the middle of the global economic crisis. (Fri, 17 Oct 2008 06:19:00 GMT)

ANZ cuts variable home loan rate
ANZ Banking Group Ltd has moved to lower its variable home loan interest rate by 25 basis points, saying the cost of wholesale funding was easing. Effective from Monday, October 27, the interest rate on ANZ's standard variable rate home loan will fall by 0.25 percentage points to 8.32 per cent. (Fri, 17 Oct 2008 07:12:58 GMT)

Prosecutor expects mortgage probe charges soon
Prosecutor in lender probe indicates charges on way The top federal prosecutor in Los Angeles indicated Thursday that charges are coming soon from a sweeping investigation of banks and subprime lenders for their role in the nation's mortgage crisis. "I think... (Fri, 17 Oct 2008 07:30:16 GMT)

ANZ cuts variable home loan rate
ANZ Banking Group Ltd has moved to lower its variable home loan interest rate by 25 basis points, saying the cost of wholesale funding was easing. (Fri, 17 Oct 2008 07:36:14 GMT)

She didn't see 'red flag' about tough mortgage
If you wonder what sort of person would get suckered into a subprime mortgage she couldn't afford, the answer might surprise you. (Fri, 17 Oct 2008 08:18:55 GMT)

Colo. man convicted of hauling pot to pay mortgage
A Colorado man has pleaded guilty to attempting to haul 170 pounds of marijuana to Connecticut, saying he needed the money to help pay his skyrocketing mortgage. (Fri, 17 Oct 2008 09:06:10 GMT)

Mortgage terms
It's only natural when buying a property to be more concerned with its size than with studying the small print on the mortgage agreement. But the wrong mortgage can cost you tens of thousands of pounds more than it should. (Fri, 17 Oct 2008 09:54:51 GMT)

PRESS RELEASE: Fitch On Australian Mortgage Insurance
Fitch Ratings-London/Sydney/Brisbane-17 October 2008: Fitch Ratings will hold a teleconference on Wednesday 22 October at 11:30 BST to answer frequently asked questions about Australian mortgage insurance. (Fri, 17 Oct 2008 12:03:28 GMT)

Mortgage fraud: New and improved
The housing bust has not ended mortgage fraud - hucksters are just finding new ways to make dishonest bucks. (Fri, 17 Oct 2008 15:31:10 GMT)

The Risks Of Mortgage-Backed Securities
Find out how weighted average life guards against prepayment risk. (Fri, 17 Oct 2008 15:48:09 GMT)

Man accused of mortgage scam placed on house arrest
NEWARK, Ohio -- A Licking County man accused of running a large-scale mortgage-rescue scam has been placed on house arrest at the request of his attorney. (Fri, 17 Oct 2008 16:30:31 GMT)

The Business of New York Real Estate: Timely Information, Trusted Analysis and Valuable Resources Online
NEW YORK CITY-El-Ad Group and Kingdom Holding, owners of the Plaza Hotel here, have completed a $260 million refinancing of the hotel portion of the fully restored 1907 landmark. The financing will be used to convert the hotel's construction loan into a long-term, permanent mortgage for the hotel. (Fri, 17 Oct 2008 17:37:44 GMT)

Bank Debt Plan Plays `No Meaningful Role' in Mortgage-Rate Rise
Oct. 17 (Bloomberg) -- The U.S. plan to guarantee bank debt hasn't ``played any meaningful role'' in a recent increase in mortgage rates, according to Bank of America Corp. (Fri, 17 Oct 2008 18:47:11 GMT)

Fitch Cuts Genworth Mortgage, MGIC, PMI Mortgage Ratings
Fitch Cuts Genworth Mortgage, MGIC, PMI Mortgage Ratings (Fri, 17 Oct 2008 19:24:43 GMT)

If hard times loom and you have a home equity loan, consider tapping it out now. Withdraw all you think you ll need ...
But in the new credit-starved economy, old axioms don't always hold sway. Of course not everyone agrees to an equity-grabbing approach, but there is a consensus among financial experts that your lender could take back your equity loan money if you don't get to it first. (Fri, 17 Oct 2008 19:26:55 GMT)

Monmouth man pleads guilty to running mortgage, investment scams
The mastermind behind a series of mortgage and investment scams that cheated at least 20 people - many of them elderly - out of $2.9 million faces up to 15 years in prison after admitting his crimes today. Spiro Pollatos,... (Fri, 17 Oct 2008 20:02:13 GMT)

Bailout pushes mortgage rates up
Bailout pushes mortgage rates up (Fri, 17 Oct 2008 20:08:11 GMT)

Merrill 3Q loss widens on mortgage-related charges
NEW YORK -- Investment bank Merrill Lynch & Co. said Thursday its third-quarter loss widened as it took more than $12 billion in charges and write-downs tied to the sale of mortgage investments and fallout from the continued credit crisis. (Fri, 17 Oct 2008 20:23:09 GMT)

Real Estate Weekly: After steep rise last week, where will mortgage rates go next?
Mortgage rates jumped this week, with the 30-year fixed-rate mortgage taking its biggest weekly leap in 21 years. The 30-year mortgage averaged 6.46% for the week ending Oct. 16, according to Freddie Mac’s weekly survey. (Fri, 17 Oct 2008 20:57:30 GMT)

Many Georgia mortgage holders still struggling to pay
Despite mounting foreclosures and loan delinquencies in Georgia, lenders and consumer advocates have been slow to rework troubled borrowers' mortgage obligations. Some blame unwillingness by lenders until very recently, while others say the sheer magnitude of the problem overwhelms the bankers and consumer debt counselors working on the issue. Still others blame the government, saying solutions ... (Sat, 18 Oct 2008 00:37:20 GMT)

Milpitas mortgage brokers convicted of fraud
After a three-month trial, two Milpitas mortgage brokers have been convicted of multiple counts of grand theft and forgery in a $10 million fraud case involving subprime mortgages. (Sat, 18 Oct 2008 02:05:40 GMT)

Hip-hop stars lend advice on mortgage, stability
With the housing market in a slump, foreclosures on the rise and lenders keeping a tighter grip on mortgage money, about 2,000 interested consumers turned out Friday night to get real estate advice from ... music stars. (Sat, 18 Oct 2008 02:48:14 GMT)

S.A. bucks national mortgage trends
While other markets may complain about a lack of financing, San Antonio mortgage brokers and Realtors say they can get mortgages for most clients here with just a little more paperwork. (Sat, 18 Oct 2008 03:53:56 GMT)

Hempstead Village Offering Mortgage Counseling
The mortgage meltdown is being confronted on Long Island with free one-on-one counseling sessions in the Village of Hempstead on Saturday and Sunday. They are taking place at the Hagedorn Family Resource Center on Greenwich Street in Hempstead. Because many people cannot make it to the sessions CBS 2 HD spoke to the experts about what can be done to keep families in their homes. (Sat, 18 Oct 2008 03:58:10 GMT)

HSBC Mortgage forecloses on Ritz condo unit
HSBC Mortgage is foreclosin' on the Ritz - or at least on one of the upscale Boston condo complex's units. Interviews and public records indicate the company... (Sat, 18 Oct 2008 04:14:22 GMT)

Troubled home loans didn’t require mortgage insurance
WASHINGTON — If the problem threatening to take down the economy is bad mortgages, then why isn’t mortgage insurance taking care of it? In the 1980s and 1990s, most home buyers could not get a mortgage with a down payment less than 20 percent unless they bought private mortgage insurance, or PMI. This insurance covers the lender in case the borrower can’t pay. It wasn’t cheap (about $150 a ... (Sat, 18 Oct 2008 05:06:43 GMT)

Prepay a Mortgage? It Depends
In the current financial environment prepaying on a mortgage might make sense. (Sat, 18 Oct 2008 05:15:11 GMT)

Millions owe more on their homes than homes are worth
Refinancing will become harder, as will getting a home equity line of credit. Already, sellers are taking much less than the listed price. (Sat, 18 Oct 2008 06:28:32 GMT)

Advice by Kenneth Harney : Crisis aside, would-be home buyers can still get reasonably priced loan
Credit squeeze, credit freeze, credit system seizures: Everybody knows how severe and painful the global financial breakdown has been — with banks unwilling to lend even to other banks. (Sat, 18 Oct 2008 07:34:10 GMT)

Spotlight on bright side of mortgage market
It would be a big stretch to label housing the sunny side of the market at the moment, but there's a lot more light there than in most other financial sectors because there is no shortage of money for home mortgages. (Sat, 18 Oct 2008 09:10:12 GMT)

You can still get a home loan
Conditions are favorable for buyers with the right credit and income, area lenders say. (Sat, 18 Oct 2008 10:37:47 GMT)

You can still get a home loan
Conditions are favorable for buyers with the right credit and income, area lenders say. (Sat, 18 Oct 2008 10:43:24 GMT)

Vet Meets Unexpected Challenge Seeking Home Loan
Living in a hotel room with his wife, three teenage sons and three dogs is not the life Adams envisioned for his family. How they got there has a lot to do with his tour of duty in Iraq. (Sat, 18 Oct 2008 13:36:31 GMT)

Martin Hawes : Saving money off your mortgage
Mortgage interest rates are going to fall. It is true banks take about a third of their funding from institutions overseas and this is getting more expensive. (Sat, 18 Oct 2008 15:33:12 GMT)

Prepay a Mortgage? It Depends
In the current financial environment, prepaying on a mortgage might make sense. (Sat, 18 Oct 2008 18:48:03 GMT)

Red flags to bad mortgage decisions
The Illiois Attorney General's Office tells consumers to look out for these red flags before signing a mortgage: (Sat, 18 Oct 2008 20:04:53 GMT)

Manic market, doubts about bailout send mortgage rates up
This week's jump in mortgage rates reflects volatility in the credit markets as well as uncertainty about efforts to bail out the financial system, analysts say. (Sat, 18 Oct 2008 20:17:59 GMT)

Hip-hop Stars Lend Advice On Mortgage, Stability
With the housing market in a slump, foreclosures on the rise and lenders keeping a tighter grip on mortgage money, about 2,000 interested consumers turned out Friday night to get real estate advice from ... music stars. (Sat, 18 Oct 2008 21:15:21 GMT)

Hip-hop stars lend advice on mortgage, stability
Russell Simmons, Ludacris, Yung Joc, financial consultants and more speak at the Hip-Hop Summit . With the housing market in a slump, foreclosures on the rise and lenders keeping a tighter grip on mortgage money, about 2,000 interested consumers turned out Friday night to get real estate advice from ... music stars. (Sat, 18 Oct 2008 21:42:44 GMT)

Borrowing from 401(k) for a home has pros and cons
Faced with a market that has tightened lending standards while home values are dropping, more people are borrowing from their 401(k) plans to help swing a home down payment. (Sun, 19 Oct 2008 03:43:41 GMT)

Surrounded by Ruins, Mortgage Market Remains Intact
Everybody knows how severe and painful the global financial breakdown has been, with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan with less than 20 percent or 30 percent down? Or with a credit score below 720? (Sun, 19 Oct 2008 04:19:29 GMT)

A lift for reverse mortgage market
One of the most significant developments in the history of reverse mortgages occurred recently when FHA Commissioner Brian Montgomery announced that a new single national limit had been set, eliminating geographical boundaries for many seniors in the country's most popular reverse mortgage program. (Sun, 19 Oct 2008 04:58:41 GMT)

FHA lowers home loan aid cap
Some Lee County homebuyers could be shut out of the market when the federal government raises the bar on a popular low-down-payment home mortgage... (Sun, 19 Oct 2008 05:14:22 GMT)

Federal mortgage plan may benefit you
The prospect of mortgage debt forgiveness will entice hundreds of thousands of homeowners into picking up the phone to play the home-preservation game of "Let's Make a Deal" beginning this fall. The federal government's Hope for Homeowners plan started Oct. 1, and a "proactive home-retention program" for some Countrywide customers will begin by December. (Sun, 19 Oct 2008 05:21:48 GMT)

911 address could make loan easier
Getting a loan on a home may be difficult in the current economic situation, but it has been difficult for some time in Muskogee County, said Dexter Payne, District 3 commissioner. (Sun, 19 Oct 2008 06:00:48 GMT)

Aussie reviewing variable mortgage rates
Aussie Home Loans will review its standard variable mortgage rate for all customers after yesterday dropping the rate by 30 basis points, to 7.79 per cent, for first home buyers and reducing interest rates for fixed home loans. (Sun, 19 Oct 2008 06:44:17 GMT)

Yes, you can still get a mortgage
There is no shortage of money available for home mortgages, no freezing of credit to purchase or refinance a house. Why? Because the American mortgage market effectively has been federalized "” at least for the time being. (Sun, 19 Oct 2008 07:09:39 GMT)

Countrywide shifts gears to help homeowners
More than 1,200 phone calls from anxious homeowners have flooded the Illinois attorney general's office since its announcement that the nation's biggest mortgage lender agreed to refinance the home loans of roughly 11,000 Illinois borrowers and 400,000 nationwide. (Sun, 19 Oct 2008 07:09:55 GMT)

New midlevel mortgages get 'purgatory' rates
The federal government's efforts to make jumbo mortgages more available to borrowers have created a three-tiered mortgage market in areas with expensive housing. There are the standard loans that Fannie Mae and Freddie Mac buy from lenders and then sell to... (Sun, 19 Oct 2008 07:31:44 GMT)

Second wave of mortgage troubles strike
When mortgage foreclosures began a steady increase a couple of years ago, the culprit was considered to be adjustable rate loans. Now, at least in northeastern Kansas, there is a second wave of people facing foreclosure, according to a counselor with Housing and Credit Counseling Inc. (Sun, 19 Oct 2008 07:33:53 GMT)

Getting mortgage easier than some other credit
Credit squeeze, credit freeze, credit system seizures: Everybody knows how severe and painful the global financial breakdown has been - with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan... (Sun, 19 Oct 2008 07:37:29 GMT)

Home buyers can easily find money for mortgages or refinancing
Kenneth Harney -- Nation's Housing C redit squeeze, credit freeze, credit system seizures: Everybody knows how severe and painful the global financial breakdown has been - with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan with less than a 20 percent or 30 percent down payment? Or with a credit score below 720? (Sun, 19 Oct 2008 07:46:46 GMT)

New U.S. mortgage aid may be too expensive
For homeowners trying to renegotiate their loans under the government's new HOPE for Homeowners program, please read the paperwork carefully -- because once again you'll be stuck with a costly mortgage deal. (Sun, 19 Oct 2008 08:03:16 GMT)

Solving mortgage woes top priority for Corzine
The housing mortgage crisis is at the root of the world's financial problems and is the first challenge New Jersey must address in its effort to stabilize the economy and calm a panicky public, Gov. Jon S. (Sun, 19 Oct 2008 08:03:16 GMT)

Consumer Loan Ratings
Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat. (Sun, 19 Oct 2008 08:04:07 GMT)

Obama calls McCain mortgage plan ill-advised
DAYTON, Ohio — Democrat Barack Obama told a campaign audience Thursday that Republican John McCain’s mortgage buyout plan would cost taxpayers billions of dollars and reward bad behavior by lenders. (Sun, 19 Oct 2008 10:41:34 GMT)

Home loan provider severs links with underworld adviser
A NATIONAL discount home loan provider has cut its ties with an underworld financial adviser and alleged money launderer after it was revealed he was operating one of its suburban agencies. (Sun, 19 Oct 2008 13:00:00 GMT)

Millions owe more on their homes than homes are worth
Refinancing will become harder, as will getting a home equity line of credit. Already, sellers are taking much less than the listed price. (Sun, 19 Oct 2008 16:01:05 GMT)

Forensic loan review can ease homeowners' woes
Troubled homeowners who are having difficulty getting the attention of their lenders might want to obtain a forensic loan review to determine if their lenders made any mistakes when the mortgage was issued. Even a $30 miscalculation on the lender's part... (Sun, 19 Oct 2008 17:14:05 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. (Sun, 19 Oct 2008 18:41:13 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored ... (Sun, 19 Oct 2008 19:18:14 GMT)

Mortgage bankers come to grips with vastly altered climate
Mortgage bankers don’t have much to be happy about these days. (Sun, 19 Oct 2008 19:27:29 GMT)

National Australia Reduces Variable Home Loan Interest Rates
Oct. 19 (Bloomberg) -- National Australia Bank Ltd., the nation's biggest by assets, cut the price of its variable interest rate mortgages, saying its cost of credit is declining. (Sun, 19 Oct 2008 20:19:47 GMT)

Banks race to drop rates in mortgage price war
A price war in Australia’s mortgage market is under way with National Australia Bank yesterday following ANZ and Aussie Home Loans in reducing its home loan interest rates. NAB announced it would (Sun, 19 Oct 2008 23:06:46 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their... (Sun, 19 Oct 2008 23:29:43 GMT)

Australia's NAB joins ANZ in cutting mortgage rate
SYDNEY, Oct 20 (Reuters) - National Australia Bank (NAB) has followed rival Australia and New Zealand Banking Group in cutting its main mortgage rate, in a move seen likely to ease pressure on the central bank to make deep rate cut. (Sun, 19 Oct 2008 23:47:23 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored ... (Mon, 20 Oct 2008 01:51:14 GMT)

Mortgage bankers meet in SF
Mortgage bankers are discussing the future of their industry. (Mon, 20 Oct 2008 01:55:06 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. (Mon, 20 Oct 2008 02:59:25 GMT)

Mortgage bankers commiserate at Moscone
Mortgage bankers commiserate at Moscone The stars of the financial meltdown - mortgage bankers - are holding their annual confab today and Tuesday at the Moscone Convention Center. This year's theme: "Winning Strategies for the Future." On hand to give the... (Mon, 20 Oct 2008 03:14:18 GMT)

Mortgage bankers convention goes on at Moscone
M - Mortgage Bankers Association annual convention continues through Wednesday at San Francisco's Moscone Center West. - Conference Board releases leading indicators for September. - Earnings reports expected from American Express,... (Mon, 20 Oct 2008 03:14:25 GMT)

A lift for reverse mortgage market
One of the most significant developments in the history of reverse mortgages occurred recently when FHA Commissioner Brian Montgomery announced that a new single national limit had been set, eliminating geographical boundaries for many seniors in the country's most popular reverse mortgage program. (Mon, 20 Oct 2008 05:07:47 GMT)

CBA cuts variable, fixed home loan rates
THE Commonwealth Bank has dropped interest rates after its rivals led the way over the weekend. (Mon, 20 Oct 2008 06:05:00 GMT)

Clerk's fee hikes would cost home buyers
Anyone buying a home or refinancing a mortgage will pay more under a plan that raises fees charged by the Westchester County Clerk's Office. (Mon, 20 Oct 2008 06:42:54 GMT)

Mortgage bankers convention goes on at Moscone
M - Mortgage Bankers Association annual convention continues through Wednesday at San Francisco's Moscone Center West. - Conference Board releases leading indicators for September. - Earnings reports expected from American Express,... (Mon, 20 Oct 2008 07:48:56 GMT)

Mortgage bankers commiserate at Moscone
Mortgage bankers commiserate at Moscone The stars of the financial meltdown - mortgage bankers - are holding their annual confab today and Tuesday at the Moscone Convention Center. This year's theme: "Winning Strategies for the Future." On hand to give the... (Mon, 20 Oct 2008 07:49:28 GMT)

Commonwealth Bank cuts home loan rates
The Commonwealth Bank has joined its rivals in cutting its main mortgage rate. (Mon, 20 Oct 2008 08:14:47 GMT)

Mortgage lending slump continues
Mortgage lending slumped to its lowest level for more than three and a half years during September, new figures show. (Mon, 20 Oct 2008 08:46:28 GMT)

Mortgage lending slump continues
Mortgage lending slumped to its lowest level for more than three and a half years during September, new figures show. (Mon, 20 Oct 2008 08:47:37 GMT)

Wealth Special: Will a CRR cut reduce loan rates?
As RBI cuts CRR, Wealth tell you how this move your home loan interest rate. (Mon, 20 Oct 2008 08:56:20 GMT)

Alleged mortgage scam lands in Obama's backyard
The mortgage crisis consuming recent talk on the campaign trail has landed in Barack Obama's backyard. (Mon, 20 Oct 2008 09:01:34 GMT)

Loan to fix garage leaves her owing $154K
Rosa Dailey is 66, in the early stages of Alzheimer's, is partially blind and battles illnesses from congestive heart failure to respiratory disease. With her sister in the hospital, Dailey wasn't looking for new debt in 2005 on the South Shore home they co-owned. (Mon, 20 Oct 2008 09:03:08 GMT)

Mortgage lending slumps 42% in a year
September figure is lowest since 2005 and shows a sharp drop-off in loans to new borrowers, says the Council of Mortgage Lenders (Mon, 20 Oct 2008 09:20:56 GMT)

Where did my mortgage go?
Once upon a time, in the olden days (at least 25 years ago), you went to the bank for a mortgage. The banker checked your finances, and your down payment, and gave you a fixed-rate, 30-year loan. Then they filed the documents away in the basement and sent you a bill every month for the payment. (Mon, 20 Oct 2008 09:31:33 GMT)

Local banks say they have the money to support loans
Despite the financial turmoil making headlines, executives at local banks say they have money to provide consumer, residential and mortgage loans. (Mon, 20 Oct 2008 09:42:10 GMT)

Mortgage lending falls sharply in September
Gross mortgage lending fell 10 percent in September to the lowest level for any month since January 2005, hit by weak demand and the global financial crisis, Britain's Council of Mortgage Lenders said on Monday. (Mon, 20 Oct 2008 09:57:00 GMT)

Mortgage rescue: Where McCain and Obama stand
A look at how McCain and Obama agree and disagree on helping distressed homeowners. (Mon, 20 Oct 2008 10:00:00 GMT)

Mortgage rescue: Where McCain and Obama stand
The politics of housing have changed in four years. In 2004, George W. Bush campaigned on a platform of increasing homeownership, especially among minorities. He wanted the government to insure zero-down payment mortgages. (Mon, 20 Oct 2008 10:52:25 GMT)

UK mortgage lending plummets 42%
September was another "awful" month for the housing market, with gross mortgage lending down 10% from August's level and by a whopping 42% on a year ago. (Mon, 20 Oct 2008 10:58:00 GMT)

Stewart's Home Retention Services Group Announces the Expansion of eSignature Capability to Loan Modification Documents
SAN FRANCISCO----Today Stewart’s Home Retention Services group, a division of Stewart Lender Services, Inc. announced the expansion of their loan modification services to include eSignature capability. (Mon, 20 Oct 2008 11:00:00 GMT)

BasePoint Releases Industry's Only Fraud Detection Solution Specifically Designed to Stop Home Equity Loan Losses
CARLSBAD, Calif.----BasePoint Analytics™, a leading provider of scientific fraud and risk analytic scoring solutions, today announced the availability of FraudMark® for Home Equity, the industry's only fraud detection solution designed to address the home equity market, enabling lenders to fund loans with confidence. (Mon, 20 Oct 2008 11:00:00 GMT)

Stewart's Home Retention Services Group Announces the Expansion of eSignature Capability to Loan Modification Documents
Today Stewart's Home Retention Services (HRS) group, a division of Stewart Lender Services, Inc. announced the expansion of their loan modification services to include eSignature capability. This service saves time and greatly reduces printing, shipping, copying and the many other expenses incurred by lenders and servicers in their efforts to restructure distressed loans. (Mon, 20 Oct 2008 11:37:34 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
WASHINGTON -- Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. (Mon, 20 Oct 2008 11:56:14 GMT)

Mortgage trusts 'leak funds'
A WARNING has been sounded about the multi-billion-dollar mortgage trust sector, with most rated trusts leaking funds, according to Lonsec. (Mon, 20 Oct 2008 13:00:00 GMT)

Mortgage trusts 'leak funds'
A WARNING has been sounded about the multi-billion-dollar mortgage trust sector, with most rated trusts leaking funds, according to Lonsec. (Mon, 20 Oct 2008 13:00:00 GMT)

UBI cuts home loan rates by 0.50 per cent
Union Bank of India today became the first bank to reduce its home loan rates by 0.50 per cent after the Reserve Bank slashed its key short-term repo rate by one per cent today. (Mon, 20 Oct 2008 14:57:47 GMT)

UBI cuts home loan rates by 0.50 per cent
Union Bank of India on Monday became the first bank to reduce its home loan rates by 0.50 per cent after the Reserve Bank slashed its key short-term repo rate by one per cent. (Mon, 20 Oct 2008 15:22:05 GMT)

CMBS Delinquencies Edge Higher; Hotels Remain Weak Spot
Fitch Ratings said the performance of commercial mortgage-backed securities was stable last month and that delinquencies continued to remain low. (Mon, 20 Oct 2008 16:31:47 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. (Mon, 20 Oct 2008 17:28:26 GMT)

SunTrust No. 1 in mortgage satisfaction
SunTrust Banks Inc. claimed the top spot for mortgage origination customer satisfaction in an annual survey by research firm J.D. Power and Associates released today. With a score of 790 out of 1,000, Atlanta-based SunTrust nipped Cleveland-based National City Corp. (788) and Charlotte-based Wachovia Corp. (786). Wachovia, which is being sold to Wells Fargo & Co. after suffering ... (Mon, 20 Oct 2008 17:40:52 GMT)

SunTrust No. 1 in mortgage satisfaction
(By Rick Rothacker, rrothacker@charlotteobserver.com) SunTrust Banks Inc. claimed the top spot for mortgage origination customer satisfaction in an annual survey by research firm J.D. Power and Associates released today. With a score of 790 out of 1,000, Atlanta-based SunTrust nipped Cleveland-based National City Corp. (788) and Charlotte-based Wachovia Corp. (786). Wachovia, which is ... (Mon, 20 Oct 2008 17:49:35 GMT)

Crownsville home builder stuck with $7.9M tab on defaulted loan
Wilmington Trust F.S.B. won a $7.9 million judgment against Fort Maier Enterprises LLC, a Crownsville-based home builder with residential communities across the mid-Atlantic region. (Mon, 20 Oct 2008 18:21:28 GMT)

Mortgage Bankers Gathering Met By SF Protestors
Mortgage lenders from across the country met in San Francisco Monday, and they were met by protests. (Mon, 20 Oct 2008 18:48:31 GMT)

Obama: McCain's mortgage plan really a bailout
Barack Obama today criticized John McCain's plan to refinance "bad mortgages," calling it a $300 billion bailout for Wall Street banks. (Mon, 20 Oct 2008 18:50:39 GMT)

Fireworks fly at SF mortgage conference
A Code Pink protestor was on stage at a conference of mortgage bankers in SF. (Mon, 20 Oct 2008 18:55:10 GMT)

State stops, fines mortgage broker
The Oregon Department of Consumer and Business Services has ordered a mortgage broker to stop services in the state. (Mon, 20 Oct 2008 19:23:51 GMT)

Federal Home Loan Banks Have Higher Risk Profiles Than Non-Member Banks
In the first study to examine the impact of Federal Home Loan Bank membership and funding on commercial bank risk, a University of Arkansas researcher and colleagues at two Federal Reserve banks found evidence to suggest that member banks have somewhat higher risk profiles than non-member banks. (Mon, 20 Oct 2008 19:33:27 GMT)

Flagstar subsidiary wins award for paperless mortgage processing system
DocVelocity, an online system developed by a subsidiary of Troy-based Flagstar Bancorp (NYSE: FBC) was named the release of the year Sunday by Mortgage Technology magazine at the publication’s annual tech awards in San Francisco. (Mon, 20 Oct 2008 20:07:06 GMT)

Home loans may get cheaper
Mumbai: After shoring up the banking system with Rs. 1,45,000 crore funds, the Reserve Bank on Monday paved the way for cheaper home, consumer, corporate and personal loan rates by slashing its key short-term lending rate (repo) by 100 basis ... (Mon, 20 Oct 2008 20:09:38 GMT)

Pimco Total Return Fund Adds Mortgage Bonds, Avoids Treasuries
Oct. 20 (Bloomberg) -- Pacific Investment Management Co.'s Bill Gross increased holdings of mortgage-backed securities in September to the highest level this year while avoiding Treasuries for a ninth straight month. (Mon, 20 Oct 2008 20:17:19 GMT)

Federal Home Loan Bank of Indianapolis Announces 2008 Third Quarter Dividend
INDIANAPOLIS, Oct. 20, 2008 -- On October 17, 2008, the Board of Directors of the Federal Home Loan Bank of Indianapolis declared a dividend on B-1 stock at an annualized rate of 4.75%. (Mon, 20 Oct 2008 20:59:16 GMT)

Attorney General Says Mortgage Scam took 13 Million from Homeowners
(Trenton, 10/20/2008) Thirty seven mortgage lenders across the state may spend time in court with Attorney General Anne Milgram. In a scheme to make money off of foreclosures, these lenders allegedly walked away with thirteen million dollars and three million in home equity. (Mon, 20 Oct 2008 21:49:59 GMT)

Financial tornado rakes mortgage bankers, but rainbow on horizon
Despite being battered by a year of staggeringly bad news, and even with a couple of dozen people protesting outside, the Mortgage Bankers Association kicked off its annual meeting with a fair bit of hope for the future. (Mon, 20 Oct 2008 23:27:29 GMT)

County Attorney to step up mortgage fraud investigations
Maricopa County Attorney Andrew Thomas told KNXV-TV this weekend that his office will step up investigations against mortgage lenders, banks and other financial institutions that may have been involved in fraudulent activities. (Mon, 20 Oct 2008 23:36:57 GMT)

Survey: SunTrust Mortgage ranks best for origination
SunTrust Mortgage Inc. ranks first in customer satisfaction among the nation’s mortgage-origination businesses, according to J.D. Power and Associates. SunTrust received an overall score of 790 of 1,000 possible points in Power’s primary mortgage origination study. (WB) (BAC) (STI) (MHP) (Tue, 21 Oct 2008 00:10:07 GMT)

Barnet sign Michael Townsend on month's loan from Cheltenham Town
Barnet have signed Cheltenham Town central defender, Michael Townsend on a month's loan and he will go straight into the side for tomorrow's match at home to League Two leaders, Wycombe Wanderers. (Tue, 21 Oct 2008 00:36:43 GMT)

If your adjustable-rate mortgage is linked to LIBOR, brace yourself
The London Interbank Offered Rate, or LIBOR, sounds like one of those funny British idiosyncrasies, like warm beer or the royal family. But if you have an adjustable-rate mortgage or a student loan tied to the LIBOR, you will not be amused by what's been happening to this index in recent weeks. (Tue, 21 Oct 2008 01:06:55 GMT)

AP IMPACT: Mortgage firm arranged stealth campaign
WASHINGTON -- Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. (Tue, 21 Oct 2008 01:13:30 GMT)

Mortgage securities drop hits home
Kansas City, a multibillion-dollar player in servicing commercial mortgage-backed securities, has taken a hit from this year’s 95 percent nose dive in loan originations for that market. (Tue, 21 Oct 2008 01:13:46 GMT)

Report: Mortgage firm arranged stealth campaign
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. (Tue, 21 Oct 2008 01:58:40 GMT)

Commonwealth Bank cuts variable & fixed home loan interest rates
The Commonwealth Bank has announced that it was cutting rates on variable home loans and for the second time within a week, fixed rate home loan rates. Variable rate home loan interest rates will be r (Tue, 21 Oct 2008 02:11:26 GMT)

Mortgage funds under attack
The emerging liquidity crisis in the mortgage fund sector will accelerate a trend toward property financing shifting from the non-bank sector to the banks, writes Tony Boys . (Tue, 21 Oct 2008 02:32:22 GMT)

Aussie mortgage fund set to freeze redemptions : report
Australia's largest mortgage fund, Challenger Howard, is set to freeze investor redemptions following a rush of withdrawals sparked by the government's guarantee of bank deposits, a report said Tuesday. (Tue, 21 Oct 2008 02:49:00 GMT)

Mortgage Crisis May Force Renters From Home
The mortgage crisis is hitting home for one local family, threatening to put them out on the streets and they're renters. (Tue, 21 Oct 2008 03:16:37 GMT)

Home loan rates slashed
SOUTH Australia's biggest home loan lender BankSA has cut variable home loans rates, with Westpac also following suit. (Tue, 21 Oct 2008 04:20:00 GMT)

Home loan rates slashed
SOUTH Australia's biggest home loan lender BankSA has cut variable home loans rates, with Westpac also following suit. (Tue, 21 Oct 2008 04:20:00 GMT)

Westpac latest bank to lower home loan rates
Westpac is the last of the big four banks to further lower its variable home loan interest rate for the second time this month, following a reduction in wholesale funding costs. The bank today said (Tue, 21 Oct 2008 04:21:29 GMT)

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