Mortgage News Oct 2008

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Westpac, St George cut variable home loan rates
Westpac has announced it is cutting its variable home loan rate by 0.2 of a percentage point. (Tue, 21 Oct 2008 05:00:21 GMT)

St George cuts home loan rates
ST George Bank has cut its standard variable home loan interest rate by 21 basis points. (Tue, 21 Oct 2008 05:08:00 GMT)

St George cuts home loan rates
ST George Bank has cut its standard variable home loan interest rate by 21 basis points. (Tue, 21 Oct 2008 05:08:00 GMT)

St George cuts home loan rates
ST George Bank has cut its standard variable home loan interest rate by 21 basis points. (Tue, 21 Oct 2008 05:08:00 GMT)

St George cuts home loan rates
ST George Bank has cut its standard variable home loan interest rate by 21 basis points. (Tue, 21 Oct 2008 05:08:00 GMT)

St George cuts standard home loan rate
St George Bank Ltd has cut its standard variable home loan interest rate by 21 basis points. Australia's fifth largest bank said the rate will fall to 8.36 per cent from October 31. (Tue, 21 Oct 2008 05:27:14 GMT)

Should we add debt to mortgage refinance?
Dear Debt Adviser, We're considering refinancing our mortgage and adding $10,000 to pay off credit card debt. We have 14 years left on a 20-year, 7 percent fixed-rate mortgage with a balance of $112,000. (Tue, 21 Oct 2008 07:19:00 GMT)

HUD says lenders working to aid homeowners
U.S. Housing and Urban Development Secretary Steve Preston will address the Mortgage Bankers Association meeting in San Francisco today alongside Karl Rove, President Bush's former deputy chief of staff and senior adviser, and George Mitchell, former Senate... (Tue, 21 Oct 2008 07:44:55 GMT)

Protest greets mortgage bankers meeting in S.F.
In a city that beckons and thrives on tourism and conventions, mortgage brokers may be San Francisco's least popular visitors in recent memory. A noisy but contained protest greeted delegates to the Mortgage Bankers Association's 95th annual convention, which... (Tue, 21 Oct 2008 07:45:02 GMT)

Will there be prosecutions from the subprime mortgage debacle?
With all the suspicious wheeling and dealing that went on in the subprime-mortgage industry, will anyone be prosecuted for possible criminal activities? (Tue, 21 Oct 2008 08:57:35 GMT)

Mortgage Bankers to Ask U.S. to Lift Fannie, Freddie Loan Limit
Oct. 21 (Bloomberg) -- The U.S. Mortgage Bankers Association plans to ask the Federal Housing Finance Agency to increase the limit for Fannie Mae and Freddie Mac purchases or guarantees of single-family mortgages to $625,500 to bolster the housing market. (Tue, 21 Oct 2008 08:59:08 GMT)

Milgram takes on mortgage industry fraud
New Jersey officials announced Monday the state is suing 37 mortgage-loan providers, industry employees, lawyers and others for fraud and racketeering for $13.5 million in alleged plots against people staring terrified at home foreclosures. (Tue, 21 Oct 2008 09:44:33 GMT)

UK gross mortgage lending declines in September, says CML
The UK Council of Mortgage Lenders has reported that gross mortgage lending reached an estimated GBP17.7 billion in September 2008, a decline of 10% from August 2008 and 42% from September 2007. (Tue, 21 Oct 2008 09:51:01 GMT)

Mortgage broker is fined $70,000, banned from doing business in Oregon
State regulators have banned mortgage broker NLC of OR Inc. from making home loans after a routine examination found more than 150 violations of mortgage lending laws. (Tue, 21 Oct 2008 10:24:46 GMT)

Economy Forces Maine Mortgage Rate To Rise
AUBURN (NEWS CENTER) -- The National economy has forced the Maine State Housing Authority to increase its mortgage rates. (Tue, 21 Oct 2008 10:32:53 GMT)

Foreclosure threatens 2 in public eye
LOCKPORT -- The mortgage foreclosure crisis roiling the nation's economy seems to have passed over Niagara County, but a candidate on the Nov. 4 election ballot and a prominent local attorney are among those whose homes are scheduled for auction in the coming weeks. (Tue, 21 Oct 2008 11:19:44 GMT)

So Where Did My Mortgage Go?
Renegotiating a mortgage is more difficult than ever, thanks to all the slicing and dicing of the securitization market. (Tue, 21 Oct 2008 15:09:22 GMT)

Shell-shocked mortgage bankers gather in S.F.
Mortgage bankers, the folks on the front line of making home loans, don't have much to celebrate these days. They're blamed for lax lending standards that led to the foreclosure crisis, their businesses are frozen in sync with the credit market, and their... (Tue, 21 Oct 2008 15:12:24 GMT)

Protest greets mortgage bankers meeting in S.F.
In a city that beckons and thrives on tourism and conventions, mortgage brokers may be San Francisco's least popular visitors in recent memory. A noisy but contained protest greeted delegates to the Mortgage Bankers Association's 95th annual convention, which... (Tue, 21 Oct 2008 15:25:46 GMT)

Mortgage attorney found shot to death
A 44-year-old mortgage attorney was found shot to death on Long Island. (Tue, 21 Oct 2008 15:45:46 GMT)

Mortgage fees upset borrowers
High bank fees are being investigated amid a report of a bank charging $20,000 to end a fixed-rate mortgage early. (Tue, 21 Oct 2008 16:03:27 GMT)

City moves closer to natural gas refinancing
Oct. 14, 2008 — The city council has started taking the necessary steps to refinance its burgeoning natural gas utility debt, which is now more than $24 million. (Tue, 21 Oct 2008 17:19:47 GMT)

Mortgage firm arranged stealthy anti-bill 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, (Tue, 21 Oct 2008 17:46:46 GMT)

Mortgage broker defends bank
22 October 2008 A mortgage broker believes banks have every right to charge fees when people want to get out of their fixed mortgage early. Consumer New Zealand and the Office of the Banking Ombudsman are investigating, after complaints from customers concerned about banks charging high break fees. (Tue, 21 Oct 2008 18:55:52 GMT)

How Ginnie Mae's Chief Is Addressing Resurgent Risks
Joseph J. Murin took the reins of the Government National Mortgage Association, better known as Ginnie Mae, at a critical point in the industry crisis. (Tue, 21 Oct 2008 19:32:17 GMT)

Mortgage Bankers to Ask U.S. to Lift Home-Loan Limits (Update1)
Oct. 21 (Bloomberg) -- The U.S. Mortgage Bankers Association plans to ask the Federal Housing Finance Agency to increase the limit for Fannie Mae and Freddie Mac purchases or guarantees of single-family mortgages to $625,500 to bolster the housing market. (Tue, 21 Oct 2008 19:53:17 GMT)

Did Dodd use power to get home loans?
(NECN: Brian Burnell, Hartford, Conn.) - A controversy surrounding Connecticut Senator Chris Dodd's refinancing of his home mortgage with Countrywide doesn't seem to be going away. The chair of the Senate Banking Committee has come under scrutiny for two mortgage deals he received from Countrywide. During an event today in Connecticut, the issue resurfaced again, forcing Dodd to face ... (Tue, 21 Oct 2008 20:20:28 GMT)

Swan says funds in mortgage trusts safe
Deposits in mortgage funds and cash management trusts are safe despite their exclusion from the government's guarantee scheme, Wayne Swan says. (Tue, 21 Oct 2008 22:22:12 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,... (Tue, 21 Oct 2008 22:22:13 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... (Tue, 21 Oct 2008 22:22:36 GMT)

HUD says lenders working to aid homeowners
U.S. Housing and Urban Development Secretary Steve Preston will address the Mortgage Bankers Association meeting in San Francisco today alongside Karl Rove, President Bush's former deputy chief of staff and senior adviser, and George Mitchell, former Senate... (Tue, 21 Oct 2008 22:23:55 GMT)

Protest greets mortgage bankers meeting in S.F.
In a city that beckons and thrives on tourism and conventions, mortgage brokers may be San Francisco's least popular visitors in recent memory. A noisy but contained protest greeted delegates to the Mortgage Bankers Association's 95th annual convention, which... (Tue, 21 Oct 2008 22:24:05 GMT)

Deposits in mortgage, cash funds 'safe'
DEPOSITS in mortgage funds and cash management trusts are safe despite their exclusion from the government's guarantee scheme, Treasurer Wayne Swan says. (Tue, 21 Oct 2008 22:35:00 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... (Tue, 21 Oct 2008 22:46:03 GMT)

Feds arrest 3 in mortgage fraud and property-flipping scheme
NEWARK - Federal authorities today arrested an Englewood man and two alleged accomplices in a mortgage fraud and property-flipping scheme involving more than $4 million worth of investment properties in Essex and Passaic counties. (Wed, 22 Oct 2008 01:11:30 GMT)

"Under water" mortgages are growing threat to U.S.
Long before she filed for bankruptcy, Ann Neukomm was "under water" -- she owed more on her mortgage than her house was worth -- a situation more and more Americans are finding themselves in. (Wed, 22 Oct 2008 01:40:00 GMT)

Protests and Hecklers Have Mortgage Bankers Longing for Good Old Days
Although no arrests were made at the mortgage bankers convention on Tuesday, stage-storming was just one of the latest outbursts to plague the event. (Wed, 22 Oct 2008 04:06:22 GMT)

Voters looking for relief from economic pains
Christopher and Jennifer Ayers got into a subprime, adjustable-rate mortgage two years ago and now are struggling to hold on to their first home. (Wed, 22 Oct 2008 04:09:16 GMT)

Defendant pleads guilty to Broward mortgage-fraud role
Antony Dehaney, the third defendant in a $10 million Broward County mortgage fraud scheme, pleaded guilty to mail, wire and bankruptcy fraud, federal prosecutors in South Florida announced. (Wed, 22 Oct 2008 07:09:35 GMT)

Business Briefs: Bank gives $300K for mortgage help
The Federal Home Loan Bank of Cincinnati has donated $300,000 to help with mortgage counseling and foreclosure mitigation in 25 counties around Nashville and Johnson City. (Wed, 22 Oct 2008 07:23:51 GMT)

Mortgage lenders 'pocketing cuts'
Consumer group Which? says most banks are not reducing their mortgage rates to reflect interest rate cuts. (Wed, 22 Oct 2008 08:48:17 GMT)

PRESS RELEASE: Fitch Downgrades Ukraine Mortgage Loan
Fitch Ratings-London/Moscow-22 October 2008: Fitch today downgraded Ukraine Mortgage Loan Finance No. 1 Plc and changed the Outlook on Class B to Negative from Stable. (Wed, 22 Oct 2008 10:47:58 GMT)

National City loss widens :Bank to cut 4,000 jobs to cope with mortgage, credit downturn.
NEW YORK -- National City Corp. on Tuesday reported a third-quarter loss and said it will cut 4,000 jobs, as the regional bank continues to struggle amid the ongoing downturn in the mortgage and credit markets. (Wed, 22 Oct 2008 11:08:09 GMT)

Mortgage application volume lowest in almost 8 years: MBA
Mortgage applications filed last week decrease a seasonally adjusted 16.6% compared with the week before, caused mainly by a sharp drop in refinancing activity, Mortgage Bankers Association data show. (Wed, 22 Oct 2008 11:27:19 GMT)

U.S. MBA Mortgage Applications Slip 16.6%, Falling to an Eight Year Low
MBA mortgage applications for the week ending October 17 fell to its lowest level since 2000 as the credit crunch continues to take a toll on the world's largest economy. (Wed, 22 Oct 2008 11:32:08 GMT)

Hecklers Have Mortgage Bankers Longing for Old Days
It was just another business-as-usual day at the annual convention of the nation’s mortgage bankers: a few panels, a few presentations and an attempted abduction of Karl Rove. (Wed, 22 Oct 2008 11:52:35 GMT)

U.S. MBA's Mortgage Applications Index Tumbled 17% Last Week
Oct. 22 (Bloomberg) -- Mortgage applications in the U.S. fell last week to the lowest level in almost eight years as the worst financial crisis in seven decades dried up lending. (Wed, 22 Oct 2008 12:22:46 GMT)

U.S. MBA's Mortgage Applications Index Tumbled 17% Last Week
Oct. 22 (Bloomberg) -- Mortgage applications in the U.S. fell last week to the lowest level in almost eight years as the worst financial crisis in seven decades dried up lending. (Wed, 22 Oct 2008 12:27:46 GMT)

Mortgage applications fall 16.6 pct
Demand for applications to buy homes and refinance mortgages sank 16.6 percent last week, a trade group said on Wednesday, in the heart of a financial crisis that has sapped consumer confidence. (Wed, 22 Oct 2008 13:11:48 GMT)

Mortgage Applications Slip To Near 8-Year Low
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume slid more than 16 percent last week, despite a decrease in average interest rates across the board. (Wed, 22 Oct 2008 13:17:03 GMT)

Protests and Hecklers Have Mortgage Bankers Longing for Good Old Days
Although no arrests were made at the mortgage bankers convention on Tuesday, stage-storming was just one of the latest outbursts to plague the event. (Wed, 22 Oct 2008 13:21:22 GMT)

(AFX UK Focus) 2008-10-22 14:14 FINEWS-US mortgage applications fall 16.6 pct - MBA
NEW YORK (Thomson Financial) - Demand for applications to buy homes and refinance mortgages sank 16.6 percent last week, the Mortgage Bankers Association said. Its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, slid last week to 408.1. The trade group's purchase index fell 10.9 percent to 279.3 in the week ended Oct. 17, while its ... (Wed, 22 Oct 2008 13:39:15 GMT)

Volatile Mortgage Rates to Persist Until Year-End, Analyst Says
Oct. 22 (Bloomberg) -- Gyrating U.S. residential mortgage rates show no signs of stabilizing, according to Keith Gumbinger , a mortgage-research analyst in Pompton Plains, New Jersey. (Wed, 22 Oct 2008 14:49:14 GMT)

Mortgage Rates: Lock In or Float?
With the recent volatility in mortgage rates, it's difficult to know whether to sit tight or lock in a new rate when shopping for a new mortgage. (Wed, 22 Oct 2008 14:54:01 GMT)

Volatile Mortgage Rates to Persist Until Year-End, Analyst Says
Oct. 22 (Bloomberg) -- Gyrating U.S. residential mortgage rates show no signs of stabilizing, according to Keith Gumbinger , a mortgage-research analyst in Pompton Plains, New Jersey. (Wed, 22 Oct 2008 14:58:09 GMT)

Mortgage applications sink to 8-year low
Demand for applications to buy U.S. homes and refinance mortgages sank to the lowest level in nearly eight years, a trade group said on Wednesday, in the heart of a financial crisis that has sapped consumer confidence. (Wed, 22 Oct 2008 14:59:39 GMT)

Mortgage applications sink to 8-year low
Demand for applications to buy homes and refinance mortgages sank to the lowest level in nearly eight years in the most recent week, a trade group said Wednesday. (Wed, 22 Oct 2008 15:17:07 GMT)

Mortgage application volume declines last week
Mortgage application volume fell 16.6 percent during the week ended Oct. 17, according to the Mortgage Bankers Association's weekly application survey. (Wed, 22 Oct 2008 16:54:46 GMT)

Russia's Renaissance gets loan to keep credit arm
MOSCOW, Oct 22 (Reuters) - Renaissance Group, which operates one of Russia's largest home-grown investment banks, received $250 million in a collateral-free loan from the central bank, its chief executive said in a presentation to staff. (Wed, 22 Oct 2008 17:04:57 GMT)

70 loan, mortgage officers disciplined last month
The Ohio Department of Commerce's Consumer Finance Section took action against 70 mortgage brokers and loan officers in September. So far this year, 630 -- or 93 percent -- of those sanctioned by the department were mortgage brokers and loan... (Wed, 22 Oct 2008 18:28:33 GMT)

Credit firms gave mortgage-related securities AAA ratings despite flaws
Bond-issuer pressure contributed to grade hikes, documents at a House hearing show. Executives and employees at the major credit rating agencies were often aware of problems in the AAA grades awarded to thousands of mortgage-related securities whose downgrades helped plunge the nation into a financial meltdown. (Wed, 22 Oct 2008 18:31:47 GMT)

Mortgage lenders more flexible, some say
WASHINGTON, Oct. 22 (UPI) -- U.S. mortgage lenders are showing more willingness to rewrite loans for troubled homeowners, a trade organization said. (Wed, 22 Oct 2008 19:26:47 GMT)

Beckham close to joining AC Milan on loan
AC Milan is close to signing David Beckham in a loan deal that would allow the Los Angeles Galaxy midfielder and former England captain to play in Italy for a few months starting in January. (Wed, 22 Oct 2008 19:31:58 GMT)

Protesters link mortgage lenders to broader economic crisis
If you blinked, you might have thought you were watching a scene from the 2006 “Borat” movie: Mortgage executives gathered in a large room are caught off-guard by disturbances in the audience, making for moments of uncomfortable silence. (Wed, 22 Oct 2008 20:13:09 GMT)

ICICI Bank hikes home loan rates, quietly
ICICI Home Finance Co (I-HFC), the home-loan arm and subsidiary of ICICI Bank, has increased the interest rate on its new home loans by one percentage point. (Wed, 22 Oct 2008 20:25:02 GMT)

ICICI Bank hikes home loan rates, quietly
COMMENT ON THIS ! Your Views! ICICI Home Finance Co (I-HFC), the home-loan arm and subsidiary of ICICI Bank, has increased the interest rate on its new home loans by 1 percentage point. (Wed, 22 Oct 2008 20:49:32 GMT)

Home loan rates likely to come down
NEW DELHI: Home loan rates are likely to come down sooner or later as the liquidity condition has improved and repo rate cut by RBI has made banks' overnight borrowings cheaper. (Wed, 22 Oct 2008 21:13:27 GMT)

Kiwibank Cuts New Zealand Variable Home Loan Rate to 8.7%
Oct. 23 (Bloomberg) -- Kiwibank Ltd., a New Zealand government-owned lender, cut its variable home-loan lending rate to 8.7 percent from 9.7 percent after the central bank today lowered benchmark borrowing costs. (Wed, 22 Oct 2008 22:39:32 GMT)

Mortgage guidelines seek to cut repossessions
Gordon Brown promised that repossessions would be a “last resort” on Wednesday as new guidelines for settling mortgage arrears ahead of court action were issued by lenders and the judiciary. (Thu, 23 Oct 2008 03:55:33 GMT)

Shaker Heights attorney Dea Character, 7 others indicted in mortgage fraud scheme
A Shaker Heights attorney and seven other people were indicted Tuesday in what prosecutors described as a mortgage fraud scheme that obtained $3 million worth of loans for seven Cuyahoga County properties. Prosecutors say Dea Character, 51, and her boyfriend,... (Thu, 23 Oct 2008 03:58:23 GMT)

Mortgage 70 per cent of pay
A HILTON couple forced to spend 70 per cent of their pay servicing home loans are among a million Australians tipped to fall into mortgage stress by March. (Thu, 23 Oct 2008 06:06:00 GMT)

Mortgage 70 per cent of pay
A HILTON couple forced to spend 70 per cent of their pay servicing home loans are among a million Australians tipped to fall into mortgage stress by March. (Thu, 23 Oct 2008 06:06:00 GMT)

Carle Place mortgage lender faces fraud charges
Federal officials yesterday filed a lawsuit against a Carle Place mortgage lender, accusing Madison Home Equities Inc. and its president of fraud in the handling of federally insured loan applications. (Thu, 23 Oct 2008 07:41:38 GMT)

Another mortgage fund freezes payouts
THE country's third biggest mortgage fund has suspended payouts as the backlash against the Federal Government's guarantee on bank deposits continues. (Thu, 23 Oct 2008 08:07:00 GMT)

DATA SNAP: BBA: UK Sep Mortgage Approvals Down 56.6% On Year
LONDON -(Dow Jones)- U.K. net mortgage lending grew in September, but the number of mortgages approved fell by more than half from a year earlier as a result of the credit crunch, data from the British Bankers' Association showed Thursday. (Thu, 23 Oct 2008 09:16:56 GMT)

Foreclosure Filings Rose 71% in Third Quarter as Prices Fell
Oct. 23 (Bloomberg) -- U.S. foreclosure filings increased 71 percent in the third quarter from a year earlier to the highest on record as home prices fell and stricter mortgage standards made it harder for homeowners to sell or refinance, RealtyTrac said. (Thu, 23 Oct 2008 09:36:56 GMT)

Mortgage rates drop
The benchmark 30-year fixed-rate mortgage dropped 42 basis points to an average 6.32 percent. (Thu, 23 Oct 2008 10:00:00 GMT)

PMI Completes Sale of Australian Mortgage Insurance Unit to QBE
The California-based PMI Group announced that it has completed the sale of its Australian mortgage insurance subsidiary and related Australian holding company to QBE Insurance Group Limited. "The (Thu, 23 Oct 2008 10:13:13 GMT)

UPDATE: BBA: UK Sep Mortgage Approvals Down 56.6% On Year
(Adds details, background.) By Nicholas Winning Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- U.K. net mortgage lending grew in September, but the number of mortgages approved fell by more than half from a year earlier as a result of the credit crunch, data from the British Bankers' Association showed Thursday. (Thu, 23 Oct 2008 10:18:00 GMT)

UK September Mortgage Approvals Increase
(RTTNews) - The number of mortgage approvals for house purchase in the UK increased to 23,422 in September from 21,342 recorded in August, the British Banker's Association said Thursday. Yet, it remained 15% lower than the average of the last 6 months. (Thu, 23 Oct 2008 10:53:59 GMT)

Mortgage firm offers gas price relief
Some folks heading home from the mortgage office may pay less at the pump. To help mortgage buyers during uncertain economic times, Threshold Mortgage Co. (Thu, 23 Oct 2008 11:37:48 GMT)

Mortgage rates drop slightly in week
WASHINGTON, Oct. 23 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages eased slightly in the week ending Oct. 23, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 23 Oct 2008 14:56:57 GMT)

Mortgage rates fall after last week's spike
The 30-year mortgage rate fell this week after last week's spike, which was its biggest weekly jump since April 1987. (Thu, 23 Oct 2008 15:31:20 GMT)

Banks Hoard Money Meant to Boost Economy, Mortgage Lender Says
Oct. 23 (Bloomberg) -- Banks getting $125 billion from U.S. taxpayers to unlock the credit crunch are saying they'd rather hoard the money than use it for loans, the head of the largest independent mortgage company said. (Thu, 23 Oct 2008 15:39:13 GMT)

FDIC's Bair: Home loan modification plan in the works
Banking regulators are working closely with the Bush administration to create a loan guarantee program that would serve as an incentive for mortgage servicers to modify home loans, the chairman of the Federal Deposit Insurance Corp. said Thursday. (Thu, 23 Oct 2008 16:18:37 GMT)

MGIC shares slump after mortgage insurer eliminates dividend
SAN FRANCISCO (MarketWatch) - MGIC Investment Corp. shares slumped more than 30% on Thursday after the mortgage insurer eliminated its dividend to conserve capital. (Thu, 23 Oct 2008 17:28:00 GMT)

Canada buys C$7 billion in second mortgage auction
Canada's housing agency said on Thursday that its second operation to buy mortgage-backed securities from banks under a special C$25 billion ($20 billion) program generated an average yield of 4.095 percent. (Thu, 23 Oct 2008 17:35:00 GMT)

Bank regulator urges mortgage loan guarantees
A top U.S. banking regulator said on Thursday the government must do more to guarantee mortgage loans to persuade lenders to modify their terms and help ward off a rising wave of foreclosures. (Thu, 23 Oct 2008 17:56:23 GMT)

The Hindu Business Line : Home loan growth slowing
Chennai, Oct. 23 Loan growth to the housing sector decelerated slightly in the second quarter. (Thu, 23 Oct 2008 18:32:04 GMT)

Home loan rate hiked before CRR, repo rate cut: ICICI Bank
ICICI Bank on Thursday said it has adopted a wait and watch policy on changes in interest rates, and the recent hike in rate for new incremental home loan customers was before RBI's recent rate cuts. (Thu, 23 Oct 2008 18:52:45 GMT)

Vijaya Bank facing home loan defaults
Vijaya bank on Thursday said it is witnessing delinquency in home loans and has initiated steps to control the defaults. (Thu, 23 Oct 2008 18:52:57 GMT)

Mortgage funds freeze $5.5b of cash
Perpetual and Axa have frozen $5.5 billion of investors' savings, as mortgage funds suffer from being left out of the govt's deposit guarantee scheme. (Thu, 23 Oct 2008 18:57:31 GMT)

Mortgage Foreclosures Jump 71% In Q3 - RealtyTrac
(RTTNews) - The U.S. mortgage crisis racked up an increase of more than 70 percent in foreclosure victims in the third quarter of 2008 than a year ago. (Thu, 23 Oct 2008 19:02:11 GMT)

Foreclosures Rose 71% in 3rd Quarter as Prices Fell (Update1)
Oct. 23 (Bloomberg) -- U.S. foreclosure filings increased 71 percent in the third quarter from a year earlier to the highest on record as home prices fell and stricter mortgage standards made it harder for homeowners to sell or refinance, RealtyTrac said. (Thu, 23 Oct 2008 19:31:21 GMT)

US working on plan to help homeowners refinance
Federal regulators told Congress Thursday they're working on a plan that could help many distressed homeowners escape foreclosure in a global financial crisis that Federal Reserve Chairman Alan Greenspan warned will get worse before it gets better. (Thu, 23 Oct 2008 20:00:14 GMT)

Video: What It Takes to Get a Mortgage
Lenders are back to looking at a borrower's cash, credit, income and job stability before offering a mortgage, Steve Jacobson of Fairway Independent Mortgage Corp. says. Amy Hoak reports. (Oct. 23) (Thu, 23 Oct 2008 20:05:34 GMT)

US working on plan to help homeowners refinance
Federal regulators told Congress Thursday they're working on a plan that could help many distressed homeowners escape foreclosure in a global financial crisis that Federal Reserve Chairman Alan Greenspan warned will get worse before it gets better. (Thu, 23 Oct 2008 21:42:48 GMT)

Meltdown 101: Who owns my mortgage?
When you sit at your kitchen table and write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. (Thu, 23 Oct 2008 21:45:45 GMT)

30-year mortgage rates drop to five-week low
Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks. (Thu, 23 Oct 2008 21:53:58 GMT)

30-year mortgage rates drop to five-week low
Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.04 percent this week, down from 6.46 percent last week. (Thu, 23 Oct 2008 21:53:58 GMT)

30-year mortgage rates plunge to a five-week low
Rates on 30-year U.S. mortgages dropped sharply this week, falling to the lowest level in five weeks (Thu, 23 Oct 2008 22:10:43 GMT)

30-year mortgage rates drop to five-week low
Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.04 percent this week, down from 6.46 percent last week. The sharp... (Thu, 23 Oct 2008 22:29:19 GMT)

U.S. weighing troubled mortgage loan guarantees
U.S. officials said on Thursday they were weighing the possibility of government guarantees for troubled mortgage loans to try to induce lenders to modify terms and slow a rising tide of home foreclosures. (Thu, 23 Oct 2008 22:35:42 GMT)

Bear Stearns $30 billion mortgage portfolio falls 9 percent
A Bear Stearns mortgage portfolio backed by the U.S. government racked up $2.7 billion of losses in the third quarter, amounting to a 9 percent decline on about $30 billion of assets, the Federal Reserve said Thursday. (Thu, 23 Oct 2008 23:56:37 GMT)

Mortgage applications sink to 8-year low
NEW YORK (Reuters) - Demand for applications to buy U.S. homes and refinance mortgages sank to the lowest level in nearly eight years, a trade group said on Wednesday, in the heart of a financial crisis that has sapped consumer confidence. (Fri, 24 Oct 2008 00:35:01 GMT)

RAMS cuts home loan rates
NON-bank lender RAMS Home Loans has lowered its variable home loan interest rate by 20 basis points to 8.19 per cent. (Fri, 24 Oct 2008 02:15:00 GMT)

RAMS cuts home loan rates
NON-bank lender RAMS Home Loans has lowered its variable home loan interest rate by 20 basis points to 8.19 per cent. (Fri, 24 Oct 2008 02:15:00 GMT)

RAMS cuts home loan rates
NON-bank lender RAMS Home Loans has lowered its variable home loan interest rate by 20 basis points to 8.19 per cent. (Fri, 24 Oct 2008 02:15:00 GMT)

State: Mortgage scam wider than thought
After they arrested a husband-and-wife team for mortgage fraud last month, state investigators received dozens of calls from people who accuse the couple of a wider-ranging scam than suspected, Florida Chief Financial Officer Alex Sink said Thursday. (Fri, 24 Oct 2008 02:15:35 GMT)

Two sentenced for role in mortgage fraud
Kenyatta Johnson's apology for her role in mortgage fraud was almost too soft to hear. Meanwhile, Dwayne L. Carter's apology today in U.S. District Court was booming, made to "the city of Columbus" and mortgage-fraud victims. (Fri, 24 Oct 2008 02:30:11 GMT)

Rams drops variable home loan rates
Non-bank lender RAMS Home Loans has lowered its variable home loan interest rate by 20 basis points to 8.19 per cent, one of the lowest in the market. The latest interest rate reduction is in additio (Fri, 24 Oct 2008 02:31:16 GMT)

Countrywide plan may cut mortgage rates for 395,000 borrowers
Interest rates on some subprime and 'option ARM' loans will temporarily go as low as 2.5%. With calls growing for stronger action to help troubled homeowners, consumer advocates are hailing a mortgage-modification program being implemented by Bank of America Corp.'s Countrywide unit as the most ambitious effort yet to avert foreclosures. (Fri, 24 Oct 2008 06:01:44 GMT)

Mortgage fraud scheme investigation widens
The State of Florida widens its investigation into a Jensen Beach pastor and his wife, who are already accused in a fraudulent mortgage investment scheme. (Fri, 24 Oct 2008 06:59:36 GMT)

2 apologize, are sentenced for roles in mortgage fraud
Kenyatta Johnson's apology for her role in mortgage fraud was almost too soft to hear. (Fri, 24 Oct 2008 07:47:06 GMT)

how the mortgage market works
NEW YORK – When you write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. (Fri, 24 Oct 2008 08:02:44 GMT)

Freddie Mac Mortgage Portfolio Up 2.3% In September
Freddie Mac Mortgage Portfolio Up 2.3% In September (Fri, 24 Oct 2008 13:25:13 GMT)

$25bn trapped in mortgage funds
THE Treasurer has shored up the bank guarantee, but given no joy to investors whose savings are stuck in frozen mortgage funds. (Fri, 24 Oct 2008 14:27:00 GMT)

Meltdown 101: Who owns my mortgage?
The pooling and reselling of mortgages, known as mortgage securitization, has played an outsized role in this financial crisis. Here are some questions and answers about mortgage securitization and its effects. (Fri, 24 Oct 2008 16:32:43 GMT)

Freddie Mac Mortgage Portfolio Shrinks $24 Billion (Update1)
Oct. 24 (Bloomberg) -- Freddie Mac said its portfolio of home loans and mortgage bonds shrank at an annualized rate of 38 percent last month as federal regulators seized control of the government-sponsored mortgage-finance company. (Fri, 24 Oct 2008 16:47:40 GMT)

Programs are available to help struggling homeowners
Assistance is growing to help financially distressed homeowners, but the nation's mounting caseload of foreclosures and mortgage delinquencies is rising faster. (Fri, 24 Oct 2008 17:37:01 GMT)

USDA has funding for home loans
United States Department of Agriculture Rural Development has financing for Single Family Housing and Guaranteed Rural Home Loan program. (Fri, 24 Oct 2008 18:35:05 GMT)

Stuck with a subprime? Refinance with VA - Army News, opinions, editorials, news from Iraq, photos, reports - Army Times
Stuck with a subprime? Refinance with VA Department of Veterans Affairs officials said Friday that they are ready to use new refinancing authority to help veterans with high-interest subprime mortgages refinance into safer, lower-interest veterans’ home loans. (Fri, 24 Oct 2008 19:01:56 GMT)

Stuck with a subprime? Refinance with VA - Navy News, opinions, editorials, news from Iraq, photos, reports - Navy Times
Stuck with a subprime? Refinance with VA Department of Veterans Affairs officials said Friday that they are ready to use new refinancing authority to help veterans with high-interest subprime mortgages refinance into safer, lower-interest veterans’ home loans. (Fri, 24 Oct 2008 19:07:07 GMT)

Fitch Places 3 Classes of CD 2007-CD4 Commercial Mortgage Trust on Watch Negative; Assigns Outlooks
Fitch Ratings places three classes of CD Commercial Mortgage Trust, series 2007-CD4, commercial mortgage (Fri, 24 Oct 2008 20:34:37 GMT)

As mortgage rates drop, some consider refinancing
CHARLOTTE, N.C. -- Rates on a 30-year fixed loan are at the lowest level in the last five weeks. Last week the rate was 6.46 percent. That fell to a new low this week of 6.04 percent. (Fri, 24 Oct 2008 21:07:31 GMT)

Mortgage rates falling, but can you get a loan?
SALISBURY, NC (WBTV) - Mortgage rates are falling in the US. This week interest rates for 15 and 30 year mortgages dropped to a five week low, that's the good news, the tough part may be getting approved for a mortgage loan. (Fri, 24 Oct 2008 21:38:00 GMT)

Man tied to pot-growing operation convicted of mortgage fraud
A St. Lucie County jury took less than two hours Friday to convict a Port St. Lucie man of mortgage fraud, who authorities said was part of an extensive pot-growing operation that used a homebuilder as a front. (Fri, 24 Oct 2008 22:24:51 GMT)

Behind in Mortgage Payments--Try Renegotiating
Rochester, N.Y. -- As more businesses begin lay offs and cut hours for employees, it's getting harder for some people to keep up with their bills including their mortgage payments. (Fri, 24 Oct 2008 23:13:06 GMT)

Project RoundUp helps soldiers' families facing mortgage crisis
MOUNT OLIVE -- While the financial implications of the mortgage crisis have affected countless individuals across the country, none are being as gravely affected by the problem than the families of soldiers serving abroad. During foreclosure proceedings, loan holders can... (Sat, 25 Oct 2008 02:34:11 GMT)

Mortgage money is available Relax, mortgage money is available
WASHINGTON — Credit squeeze, credit freeze, credit system seizures: Everybody knows how severe and painful the global financial breakdown has been. Can you still get a home loan with less than a 20 or 30 percent down payment? Or with a credit score below 720? Absolutely. It would be a big stretch to label housing the sunny side of the market, but there’s a lot more light there than in most ... (Sat, 25 Oct 2008 05:02:22 GMT)

Meltdown: your mortgage's role
NEW YORK -- When you sit at your kitchen table and write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. (Sat, 25 Oct 2008 06:15:26 GMT)

Muncie gets $60,435 to help curb mortgage foreclosures
MUNCIE — Muncie Home Ownership, 409 S. Walnut St., has received a $60,435 grant from U.S. Housing and Urban Development to help families in Delaware and surrounding counties with foreclosure prevention, the first-time homebuyer program, reverse mortgage counseling and mortgage education. (Sat, 25 Oct 2008 07:24:11 GMT)

Countrywide plan cuts mortgage rates for those struggling
With calls growing for stronger action to help troubled homeowners, borrower advocates are hailing a mortgage-modification program being implemented by Bank of America Corp.'s Countrywide unit as the most ambitious effort yet to avert foreclosures. (Sat, 25 Oct 2008 08:07:36 GMT)

Wickliffe man indicted in mortgage fraud
A Wickliffe man is one of eight people indicted this week for mortgage offenses involving seven houses located in Cleveland, Cleveland Heights, Lyndhurst, Moreland Hills and Pepper Pike. (Sat, 25 Oct 2008 08:10:38 GMT)

Poconos mortgage suit set for February
Lawsuit alleges 100 buyers defrauded by bank and builder. A federal lawsuit filed six years ago alleging that more than 100 home buyers were defrauded by JP Morgan Chase Bank and a Poconos builder will finally go to trial in February. (Sat, 25 Oct 2008 08:11:59 GMT)

Q: How have mortgage rates changed in the past year?
A: According to a weekly report from mortgage giant Freddie Mac, the average rate for a 30-year, fixed-rate mortgage was 6.04 percent, compared with 6.33 percent a year ago. (Sat, 25 Oct 2008 08:58:41 GMT)

Mortgage company reported on by Sun-Times shut down
A state agency Friday shut down a mortgage company that was the subject of a Chicago Sun-Times article just four days earlier. The Professional and Financial Regulation Department pulled the license of OSI Financial Services Inc., run by Mark Diamond, saying the company failed to properly maintain its business under state guidelines. (Sat, 25 Oct 2008 09:05:52 GMT)

Real Estate, Mortgage Discussion Planned
Jamestown Community College's Center for Continuing Education, in collaboration with the Robert H. Jackson Center Inn of Court, Jamestown Bar Association and New York State Bar Association present a seminar on Real Estate, Mortgage Foreclosure and Assessments as part of The People's Law School, which covers a different topic of law each week for six weeks at Jamestown Community College. (Sat, 25 Oct 2008 10:20:52 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. (Sat, 25 Oct 2008 10:55:42 GMT)

VA offers new home loan options
WASHINGTON - Veterans with conventional home loans now have new options for refinancing to a Department of Veterans Affairs guaranteed home loan. (Sat, 25 Oct 2008 11:43:52 GMT)

Bank Notes | IBM unit creates services for mortgage lenders
IBM unit creates services for mortgage lenders A Charlotte-based IBM Corp. unit this week said it's rolling out new products and services for mortgage lenders looking to cut costs and improve efficiency in the industry's downturn. At a conference this week in San Francisco, IBM Lender Business Process Services Inc. said it has developed new technology to help lenders process Federal Housing ... (Sat, 25 Oct 2008 11:51:24 GMT)

Bank regulator urges mortgage loan guarantees
WASHINGTON (Reuters) - A top U.S. banking regulator said on Thursday the government must do more to guarantee mortgage loans to persuade lenders to modify their terms and help ward off a rising wave of foreclosures. (Sat, 25 Oct 2008 12:45:13 GMT)

Norwich contractor admits role in mortgage fraud scheme
A  Norwich contractor pleaded guilty Friday to charges related to a $3.6 million mortgage fraud scheme.   (Sat, 25 Oct 2008 12:58:25 GMT)

State Dems call for mortgage reform
State Assembly Democrats call on Gov. Schwarzenegger for mortgage reform. (Sat, 25 Oct 2008 16:46:49 GMT)

Who really is owner of the mortgage on your home?
NEW YORK - When you sit at your kitchen table and write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. (Sat, 25 Oct 2008 18:33:58 GMT)

Credit Crunch Misery - Mortgage firm 'chased cancer victim to his grave'
A mortgage firm 'chased a cancer victim to his grave', his distraught family claim. (Sat, 25 Oct 2008 21:24:52 GMT)

US mortgage brokers in philosophical mood
You have to hand it to the women at Code Pink, the all-purpose protest group originally formed to oppose the Iraq war. They know how to liven up a boring banking conference. Barely had Karl Rove arrived on stage at the Mortgage Bankers Association's convention in San Francisco this week when he was set upon by a Code Pink campaigner wielding handcuffs. "Karl Rove is not fit to address ... (Sat, 25 Oct 2008 22:21:56 GMT)

Wickliffe man indicted in mortgage fraud
A Wickliffe man is one of eight people indicted this week for mortgage offenses involving seven houses located in Cleveland, Cleveland Heights, Lyndhurst, Moreland Hills and Pepper Pike. (Sat, 25 Oct 2008 23:52:45 GMT)

Meltdown 101: Who owns my mortgage?
NEW YORK -- When you sit at your kitchen table and write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. (Sun, 26 Oct 2008 00:12:26 GMT)

30-year mortgage rates drop to five-week low
WASHINGTON -- Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks. (Sun, 26 Oct 2008 00:12:47 GMT)

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