Mortgage News Nov 2008

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Abu Dhabi firms set up new UAE mortgage lender
Five state-run and publicly traded companies in Abu Dhabi are launching a new mortgage provider as the credit crunch threatens to stifle the United Arab Emirates' property boom. (Wed, 26 Nov 2008 12:35:52 GMT)

Mortgage Applications Rose 1.5% Last Week: MBA
Mortgage applications rose a seasonally adjusted 1.5% last week, due to a bump in loans sought for home purchases, the Mortgage Bankers Association reported on Wednesday. (Wed, 26 Nov 2008 12:38:04 GMT)

Baby Steps
A spike in refinancing activity yesterday is a sign the latest bailout plan just might work. Sure, it's small, but we'll take it. (Wed, 26 Nov 2008 13:01:19 GMT)

Hong Kong New Mortgage Loans Decrease In October
(RTTNews) - Wednesday, a monthly survey of residential mortgage lending from the Hong Kong Monetary Authority showed that new mortgage loans drawn during October fell 2.6% to HK$11.3 billion compared with September. (Wed, 26 Nov 2008 13:08:18 GMT)

Trying to end the mortgage rate lag
Bad news is good news for Treasury investors, and recently, there has been a whole lot of bad news. Mortgage rates, however, have not fallen with Treasury yields, but an $800 billion government bailout could change all of that. (Wed, 26 Nov 2008 13:13:17 GMT)

U.S. Mortgage Rates Drop Most in Seven Years on Fed Debt Plan
Nov. 26 (Bloomberg) -- U.S. mortgage rates dropped by the most in at least seven years as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. (Wed, 26 Nov 2008 13:18:50 GMT)

U.S. MBA’s Mortgage Applications Index Rose 1.5% Last Week
Nov. 26 (Bloomberg) -- Mortgage applications in the U.S. rose last week as purchases climbed from an eight-year low while refinancing fell, reflecting difficulties in the credit market. (Wed, 26 Nov 2008 13:22:31 GMT)

Mortgage Applications Edge Up On Lower Rates
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume edged up last week, bringing applications up from a near 8-year low. Applications ticked up 1.5 percent from the previous week, but they were down nearly 22 percent when compared to last year. (Wed, 26 Nov 2008 13:39:58 GMT)

Act now or face total freeze on home loans, Darling told
A 50% drop in mortgage lending in the past 12 months and dire predictions by the government's mortgage tsar of a complete freeze in home loans next year prompted calls yesterday for immediate action from the chancellor Alistair Darling to assist home owners. Data published yesterday showed home loan approvals halved in the year to the end of October. This came a day after Sir James Crosby ... (Wed, 26 Nov 2008 14:57:36 GMT)

The Downside of Falling Mortgage Rates
I'm scared by the latest uptick in mortgage financing. Mortgage rates fell sharply yesterday, which is good news for people with good credit. But it might also be good news for people with bad credit -- and very bad news for the US taxpayer. (Wed, 26 Nov 2008 15:00:19 GMT)

Mortgage applications rise in week
The volume of applications for U.S. mortgages increased last week, rising by a seasonally adjusted 1.5 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, rose from 398.6 to 404.4 in the week ending Nov. 21, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index decreased in the week, down 2.1 percent to 1,254, ... (Wed, 26 Nov 2008 16:04:41 GMT)

Mortgage rates plummet
Mortgage rates fell sharply yesterday after the administration announced that it will pump another $800 billion into credit markets to free up frozen consumer and mortgage lending. (Wed, 26 Nov 2008 16:13:17 GMT)

Fed Aid Sets Off a Rush to Refinance
The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. (Wed, 26 Nov 2008 16:15:48 GMT)

Mortgages: Mortgage rates likely to stay low, opening refinancing window
The 30-year fixed-rate mortgage dropped below 6% on average this week, a seven-week low for the mortgage, according to Freddie Mac’s weekly survey, released on Wednesday. (Wed, 26 Nov 2008 16:22:45 GMT)

Armed suspect and resident of San Mateo home dead after police standoff
SAN MATEO, Calif. - A mother and an armed suspect died after a shootout involving police at a local home Tuesday. Loan Kim Nguyen, 24, was fatally wounded in the incident, authorities said. The suspect, whose name has not been released, was found dead. (Wed, 26 Nov 2008 16:35:34 GMT)

New home sales fall to slowest pace since 1991
Sales of new homes fell in October to the lowest point in nearly 18 years while the median price of a new home dropped to the lowest level since 2004. (Wed, 26 Nov 2008 16:50:14 GMT)

U.S. mortgage rates mixed in week
WASHINGTON, Nov. 26 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the fourth straight week, the Federal Home Loan Mortgage Corp. said Wednesday. (Wed, 26 Nov 2008 17:07:40 GMT)

BTB concludes refinancing agreements at blended interest rate of 4.86%
BTB Real Estate Investment Trust is pleased to announce that it has concluded refinancing agreements for some of its properties for aggregate proceeds of $6.05 million, at a blended interest rate of 4.86%. (Wed, 26 Nov 2008 17:15:00 GMT)

Abu Dhabi companies launch home loan group
Five of Abu Dhabi's largest companies have launched a home finance company today that will fill the void left by the implosion of credit at home and abroad. (Wed, 26 Nov 2008 18:23:58 GMT)

Mortgage Rates Dropping - Should I Refinance?
With interest rates dropping, many people are rushing to get new mortgages.  But mortgage lenders warn, there are still a lot of desperate lenders out there, so buyer beware. (Wed, 26 Nov 2008 18:49:13 GMT)

Mortgage Rates Tumble on Fed Debt Purchasing Plan (Update1)
Nov. 26 (Bloomberg) -- U.S. mortgage rates plunged by the most in at least seven years yesterday as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed. (Wed, 26 Nov 2008 19:07:40 GMT)

Mortgage rates drop sharply
North Jersey mortgage lenders expect a surge in refinancings as a result of yesterday's sharp interest rate drop, but are less optimistic about the government’s ability to prompt a turnaround in home sales anytime soon. (Wed, 26 Nov 2008 19:54:26 GMT)

Personal Finance Daily: The government's gift to homeowners: Lower mortgage rates
Don’t miss these top features in Personal Finance -- including a report on lower mortgage rates, a story about consumers embracing a lower-cost holiday and reasons to give thanks. (Wed, 26 Nov 2008 20:45:16 GMT)

Personal Finance Daily: The government's gift to homeowners: Lower mortgage rates
Don’t miss these top features in Personal Finance -- including a report on lower mortgage rates, a story about consumers embracing a lower-cost holiday and reasons to give thanks. (Wed, 26 Nov 2008 20:53:05 GMT)

Credit still crunched even as mortgage rates fall
Mortgage rates sank again Wednesday, but investors are worried that getting a loan will still be a tough feat. (Wed, 26 Nov 2008 21:10:46 GMT)

Credit still crunched even as mortgage rates fall
Mortgage rates sank again Wednesday, but investors are worried that getting a loan will still be a tough feat. The credit markets, while not as crunched as they were last week ahead of the rescue of Citigroup Inc. and the Federal Reserve's plan to buy $600 billion in mortgage-backed securities, are still in rough shape because financial institutions and other investors remain wary about lending. (Wed, 26 Nov 2008 21:10:46 GMT)

S.F.-area woman killed in home invasion
Police outside San Francisco say they have yet to identify an intruder killed in a shootout with SWAT officers that also took the life of a young woman.Also unknown Wednesday was the motive the gunman had for barging into the San Mateo, Calif., home where Loan Kim Nguyen, 24, lived with her two small children.The San Francisco Chronicle said Loan barricaded herself in a second-story bedroom and ... (Wed, 26 Nov 2008 21:32:17 GMT)

Long-term Mortgage Rates Fall for Fourth Straight Week
Long-term mortgage rates fell for the fourth week in a row, according to Freddie Mac’s (FRE) Primary Mortgage Market Survey. (Wed, 26 Nov 2008 22:11:46 GMT)

Credit still crunched even as mortgage rates fall
Mortgage rates sank again Wednesday, but investors are worried that getting a loan will still be a tough feat. The credit markets, while not as crunched as they were last week ahead of the rescue of Citigroup Inc. and the Federal Reserve's plan to buy $600 billion in mortgage-backed securities, are still in rough shape because financial institutions and other investors remain wary about lending. (Wed, 26 Nov 2008 22:30:48 GMT)

Mortgage rates fall for 2nd day; won't help all
Mortgage rates fell for the second day in a row Wednesday, and could be heading toward levels home buyers and owners haven't seen this year. That drop is what the Federal Reserve was aiming for when it announced a plan Tuesday to buy $600 billion in mortgage-... (Wed, 26 Nov 2008 23:42:55 GMT)

Mortgage brokers seeing more refinancing
A sudden drop in mortgage rates is driving a lot of business to brokers – with many doing the most deals of the year. (Wed, 26 Nov 2008 23:46:46 GMT)

Mortgage rates are dropping, good time to refinance
Charlotte, NC (WBTV) - Mortgage rates started dropping Tuesday. "The federal government came in and did us a big favor," mortgage broker Casey Crawford said. (Wed, 26 Nov 2008 23:59:34 GMT)

Is Now A Good Time To Refinance Your Mortgage?
There has been a run on refinancing requests in the wake of Tuesday's sudden drop in interest rates. Loan officers say they have received a lot of requests from homeowners, looking to refinance. But before homeowners sign the papers, they will want to make sure they can really benefit from the lower rates. (Thu, 27 Nov 2008 00:12:45 GMT)

Mortgage Lenders Report Boom After Fed Rate Cut
Wall Street rallied again Wednesday thanks, in part, to a new plan to boost mortgage lending. Mortgage lenders are saying that business is suddenly booming. On Tuesday, a new Federal Reserve program drove down the rate on a 30-year fixed mortgage, from an average of 6.8 percent to 5.5 percent. The lower rate shaves $200 a month off the cost of a $200,000 mortgage. (Thu, 27 Nov 2008 01:04:28 GMT)

Mortgage rate drop sparks surge in consumer interest
U.S. action this week sent mortgage interest levels to their lowest point since May. Silicon Valley loan brokers and big banks report a big increase in calls in the past couple of days. (Thu, 27 Nov 2008 02:00:36 GMT)

Credit still crunched even as mortgage rates fall
NEW YORK -- Mortgage rates sank again Wednesday, but investors are worried that getting a loan will still be a tough feat. (Thu, 27 Nov 2008 03:23:24 GMT)

Mortgage-rate drop not enough to shore up market
Mortgage-rate drop not enough to shore up market A seismic drop in mortgage rates sent borrowers running to their mortgage lenders Tuesday and gave those companies the best day they've had in months, years, maybe ever. (Thu, 27 Nov 2008 03:26:54 GMT)

Mortgage rates fall for 2nd day; won't help all
MIAMI -- Mortgage rates fell for the second day in a row Wednesday, and could be heading toward levels home buyers and owners haven't seen this year. (Thu, 27 Nov 2008 03:36:09 GMT)

As Loan Rates Fall, Borrowers Seek 'Taste of the Bailout Pie'
Would-be mortgage borrowers have rushed to refinance their loans and even weighed plans to buy homes following the government's move this week to loosen consumer lending. (Thu, 27 Nov 2008 06:30:46 GMT)

New row as Northern Rock raise home loan rates
NORTHERN Rock fuelled the row over mortgage lending yesterday by jacking up home loan rates. (Thu, 27 Nov 2008 08:05:11 GMT)

Homebuyers jump at falling mortgage rates
Stuart Stenhouse has been watching the housing market for some time. On Wednesday, lured by a plunge in mortgage rates, the 40-year-old Sacramentan jumped in. "That's why I'm starting," Stenhouse said as he traipsed around Beazer Homes' Natomas Field development in a cold midday drizzle. He doubted he would buy immediately, but the lower rates prompted him to start looking at town homes in ... (Thu, 27 Nov 2008 08:13:24 GMT)

Mortgage rates slide again
Mortgage rates fell for the second day in a row Wednesday and could be heading toward levels not seen this year. (Thu, 27 Nov 2008 08:19:10 GMT)

Good buys in home loans
U.S. move cuts mortgages to lowest rate since February Home loan borrowers with good credit could be in for some of the best mortgage rates in months, analysts said yesterday, a day after the Federal Reserve announced intervention designed to make financing less costly and more readily available. (Thu, 27 Nov 2008 08:28:59 GMT)

Mortgage rate drop spurs rush to lenders for refinancing
A sharp plunge in U.S. mortgage rates prompted a rush to refinance, resulting in record-setting business Tuesday at Livonia-based Quicken Loans and big days for other lenders. (Thu, 27 Nov 2008 08:29:02 GMT)

Good buys in home loans
U.S. move cuts mortgages to lowest rate since February Home loan borrowers with good credit could be in for some of the best mortgage rates in months, analysts said yesterday, a day after the Federal Reserve announced intervention designed to make financing less costly and more readily available. (Thu, 27 Nov 2008 08:41:44 GMT)

Three Delta’s NHP Gets Standstill Agreement on Defaulted Loan
Nov. 27 (Bloomberg) -- NHP Ltd., a U.K. care home property company owned by private-equity firm Three Delta LLP, has won more time to reorganize its debts after defaulting on a 1.2 billion-pound ($1.84 billion) loan. (Thu, 27 Nov 2008 10:09:45 GMT)

4 things to know before you refinance your mortgage
The Federal Reserve's decision to buy up mortgaged-backed securities caused mortgage rates to fall and created new opportunities. Should you refinance your mortgage now? Before you rush to refi, take a few minutes to determine if it's the right move for you. (Thu, 27 Nov 2008 11:49:49 GMT)

Mortgage rates drop below 6 percent
Thanks to Uncle Sam, mortgage rates plummeted this week. The Federal Reserve announced Tuesday that it will buy up to $500 billion worth of mortgage-backed securities over roughly the next year-and-a-half. (Thu, 27 Nov 2008 12:34:21 GMT)

Brief refinancing frenzy
Mortgage-rate drop not enough to shore up market A seismic drop in mortgage rates sent borrowers running to their mortgage lenders Tuesday and gave those companies the best day they've had in months, years, maybe ever. (Thu, 27 Nov 2008 15:30:19 GMT)

Rate drop could spur mortgage refinancings
North Jersey mortgage lenders expect a surge in refinancings as a result of Tuesday's interest rate plunge, but are less optimistic about the government's ability to prompt a turnaround in home sales anytime soon. (Thu, 27 Nov 2008 16:55:29 GMT)

PRESS RELEASE: Fitch: HRE Bank's Mortgage Pfandbriefe On RWN
Fitch Ratings-London/Frankfurt-27 November 2008: Fitch Ratings is maintaining Hypo Real Estate Bank AG's (HRE Bank, rated 'A-'(A minus)/Outlook Stable/'F1') mortgage and public sector Pfandbriefe, rated 'AA+' and 'AAA' respectively, on Rating Watch Negative (RWN), where they were placed on 30 September 2008. (Thu, 27 Nov 2008 17:08:08 GMT)

PRESS RELEASE: Fitch: HRE Bank's Mortgage Pfandbriefe On RWN
Fitch Ratings-London/Frankfurt-27 November 2008: Fitch Ratings is maintaining Hypo Real Estate Bank AG's (HRE Bank, rated 'A-'(A minus)/Outlook Stable/'F1') mortgage and public sector Pfandbriefe, rated 'AA+' and 'AAA' respectively, on Rating Watch Negative (RWN), where they were placed on 30 September 2008. (Thu, 27 Nov 2008 17:08:08 GMT)

Mortgage rates take a sharp drop
KUSA - Mortgage rates dropped after an announcement that the government will spend billions more in an attempt to unfreeze mortgage and consumer lending. (Thu, 27 Nov 2008 18:57:18 GMT)

Mortgage payments increase
Results from the Household Economic Survey (Income) (HES (Income)) show that an increase in housing costs was driven mainly by increases in mortgage payments in the year ended 30 June 2008, Statistics New Zealand said today. (Thu, 27 Nov 2008 22:32:58 GMT)

Chancellor bids to ease mortgage woe
The move was the main recommendation of Sir James Crosby’s report on mortgage finance, published this week alongside chancellor Alistair Darling’s pre-Budget report. (Fri, 28 Nov 2008 00:01:10 GMT)

Mortgage fraud unit targets lawyers, loan officers
UPPER MARLBORO — The Prince George’s County State’s Attorney’s Office hopes to send a message to potential perpetrators of mortgage fraud: “Not in this county.” (Fri, 28 Nov 2008 01:39:45 GMT)

Mortgage payment crisis grows
Almost one in four subprime mortgage holders have fallen behind in their payments, a sharp rise from the one in five delinquent borrowers a year ago, according to Standard & Poor’s, the rating agency. (Fri, 28 Nov 2008 02:05:07 GMT)

Malls, hotels next victims in new mortgage crisis
The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. (Fri, 28 Nov 2008 02:14:10 GMT)

Mortgage rates fall; inquiries leap
Telephones are ringing - and ringing - at mortgage brokers' offices around the country after this week's sharp drop in mortgage rates. (Fri, 28 Nov 2008 02:40:54 GMT)

Fighting to Keep a Home Remodeled to Meet a Disabled Daughter?s Needs
Rajlakshmi Wahid is in danger of losing the home she and her husband spent six years modifying for their disabled daughter Shabena. (Fri, 28 Nov 2008 02:44:43 GMT)

NAB cuts fixed home loan rate
Australia’s biggest bank by assets, National Australia Bank, will cut its one-year fixed home loan rate by one percentage point, to 5.59 per cent. The one percentage point cut applies also to the two (Fri, 28 Nov 2008 04:50:24 GMT)

NAB slashes fixed loan rates
NAB will cut its one-year fixed home loan rate by one percentage point, to 5.59 per cent. (Fri, 28 Nov 2008 05:06:00 GMT)

NAB slashes fixed loan rates
NAB will cut its one-year fixed home loan rate by one percentage point, to 5.59 per cent. (Fri, 28 Nov 2008 05:06:00 GMT)

NAB slashes fixed loan rates
NAB will cut its one-year fixed home loan rate by one percentage point, to 5.59 per cent. (Fri, 28 Nov 2008 05:06:00 GMT)

The Tighter Loan Market
At a time when homes especially second homes in some regions are dropping in price, it?s getting harder to get a loan to buy one. (Fri, 28 Nov 2008 06:09:59 GMT)

Meltdown far from over, new mortgage crisis looms
Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market. (Fri, 28 Nov 2008 09:45:24 GMT)

Tallian eyes mortgage bill
A local legislator is taking aim at the mortgage crisis with a bill she hopes will give Indiana homeowners the tools to keep their homes. (Fri, 28 Nov 2008 10:11:19 GMT)

FSA asks mortgage firms to review arrears and repossessions practice
The Financial Services Authority (FSA) has written to the chief executives of all mortgage lenders and mortgage administrators giving them until January 31 to ensure that their customers facing arrears are being treated fairly. (Fri, 28 Nov 2008 10:43:14 GMT)

Meltdown far from over, new mortgage crisis looms
WASHINGTON (AP) - Analysts say the next economic crisis might involve malls, hotels and other businesses affected by the mortgage crunch. Malls from Michigan to Georgia are entering foreclosure, victims of the same crisis that's affected the housing market. (Fri, 28 Nov 2008 11:04:22 GMT)

Big slump in residential mortgage lending
Figures from the Central Bank show a dramatic slump in residential mortgage lending in October. The annual rate of growth in October fell to 7.6%, the lowest figure since 1986. The Central Bank described the mortgage figure as 'exceptionally weak'. (Fri, 28 Nov 2008 11:04:43 GMT)

Meltdown far from over, new mortgage crisis looms
Associated Press - November 28, 2008 5:53 AM ET WASHINGTON (AP) - Analysts say the next economic crisis might involve malls, hotels and other businesses affected by the mortgage crunch. (Fri, 28 Nov 2008 11:06:35 GMT)

FSA reminds mortgage lenders of arrears TCF once again
The FSA has warned mortgage lenders and administrators yet again that they must be treating customers fairly if they are in arrears. ... (Fri, 28 Nov 2008 11:07:18 GMT)

The Financial Services Authority warns banks on mortgage arrears
The Financial Services Authority has warned banks that they are still failing to treat customers who fall behind with mortgage payments fairly. (Fri, 28 Nov 2008 11:38:52 GMT)

Watchdog warns mortgage lenders
The City watchdog warned mortgage lenders to treat customers in arrears fairly or face action from the regulator. (Fri, 28 Nov 2008 12:30:08 GMT)

Bradford & Bingley Says Mortgage Bonds Won’t Be Repaid on Time
Nov. 28 (Bloomberg) -- Bradford & Bingley Plc, the U.K. lender nationalized by the government, said that holders of its mortgage-backed securities are unlikely to be repaid at the bonds’ expected maturities. (Fri, 28 Nov 2008 13:00:28 GMT)

Mortgage stressed on the rise despite cuts
BECAUSE of cuts in interest rates, the number of households under mortgage stress fell 3 per cent to 770,000 in October compared with the previous month. However, the latest Fujitsu Consulting Group national survey of mortgage stress has found that those in severe stress rose by 13 per cent to 291,000. (Fri, 28 Nov 2008 13:04:53 GMT)

Mortgage stressed on the rise despite cuts
BECAUSE of cuts in interest rates, the number of households under mortgage stress fell 3 per cent to 770,000 in October compared with the previous month. However, the latest Fujitsu Consulting Group national survey of mortgage stress has found that those in severe stress rose by 13 per cent to 291,000. (Fri, 28 Nov 2008 13:10:44 GMT)

Bradford & Bingley Says Mortgage Bonds Won’t Be Repaid on Time
Nov. 28 (Bloomberg) -- Bradford & Bingley Plc, the U.K. lender nationalized by the government, said that holders of its mortgage-backed securities are unlikely to be repaid at the bonds’ expected maturities. (Fri, 28 Nov 2008 13:39:33 GMT)

Hungarian developer Cordia secures loan agreement to build HUF 10 blnresidential project
BUDAPEST. NOVEMBER 28. INTERFAX CENTRAL EUROPE - Cordia Zrt, the residential development arm of Hungarian property group Futureal, has signed a loan agreement with Hungary's MKB Bank, owned by Germany's Bayerische Landesbank, to build a HUF 10 bln residential project in Hungarian capital Budapest, Cordia announced in a statement. (Fri, 28 Nov 2008 15:13:43 GMT)

Mary Holm : It pays to cut your rental mortgage
We have kept an interest-only mortgage on our rental property on advice we received two years ago that it was better to keep the mortgage on a rental property to gain the tax breaks… (Fri, 28 Nov 2008 15:17:06 GMT)

Mortgage rates fall; inquiries leap
Telephones are ringing - and ringing - at mortgage brokers' offices around the country after this week's sharp drop in mortgage rates. (Fri, 28 Nov 2008 15:33:58 GMT)

Bradford & Bingley Says Mortgage Bonds Will Extend (Update1)
Nov. 28 (Bloomberg) -- Bradford & Bingley Plc , the U.K. lender nationalized by the government, said that holders of its 9.9 billion pounds ($15 billion) of mortgage-backed securities are unlikely to be repaid on time. (Fri, 28 Nov 2008 16:24:50 GMT)

Italy to Limit Mortgage Rates as Part of EU80 Billion Plan
Nov. 28 (Bloomberg) -- The Italian government will make one-time cash payments to Italy’s poorest families and force banks to limit mortgage rates as part of an 80 billion-euro ($102 billion) economic-stimulus plan. (Fri, 28 Nov 2008 16:39:46 GMT)

Forget Shopping: Mortgage Refinancing Tops To-Do List
Thanks to the government’s plan to buy $600 billion of mortgage debt, mortgage rates on fixed 30 year loans declined this week ushering in a slew of mortgage applications. While the spread between mortgages and treasuries is still wide, some economists say now is the time to apply for that new loan if you have a good credit score. (Fri, 28 Nov 2008 17:41:42 GMT)

Real Estate Weekly: Record number of mortgage workouts in October
The mortgage industry set a record for the number of mortgage workouts done in October, according to Hope Now, an alliance of mortgage servicers, counselors and investors working to help homeowners avoid foreclosure. (Fri, 28 Nov 2008 18:22:45 GMT)

Rent, mortgage crisis at a peak
MORTGAGE stress and skyrocketing rental prices are forcing south-west residents to take desperate measures. Warrnambool home waiting lists surged by almost seven per cent in the September quarter, ... (Fri, 28 Nov 2008 19:17:56 GMT)

Nationwide bars new borrowers from cheap mortgage deal
Nationwide Building Society has barred all new mortgage customers from signing up to its marketbeating base rate. (Fri, 28 Nov 2008 19:53:59 GMT)

Jack Guttentag: The Mortgage Professor
Many mortgage borrowers are tempted to finance their closing costs -- that is, to add the costs to the loan amount. This could be attractive to borrowers who can earn high returns on their free cash, or those who don't have any free cash. (Fri, 28 Nov 2008 21:23:03 GMT)

Lawsuit Paints Loan Crisis In Black, White and Brown
In what appears to be the first legal action of its kind, an association of community-based organizations has filed a federal civil rights complaint against two of the three largest Wall Street ratings agencies, charging that their inflated ratings on subprime mortgage bonds disproportionately caused financial harm to African American and Latino home buyers. (Fri, 28 Nov 2008 21:23:23 GMT)

Poll: Is this the time to refinance?
Mortgage rates have dropped, but it's not that simple. (Fri, 28 Nov 2008 21:28:20 GMT)

Great Wolf still talking with lenders
Great Wolf Resorts said Friday it remains in discussions with its lenders regarding an extension of Sunday's maturity date on a $76.8 million mortgage on its Mason, Ohio, resort property. The Madison company announced earlier this month in its quarterly earnings report that it had not been enable to refinance the loan on the 400-room property. Great Wolf said it expects to continue to operate ... (Fri, 28 Nov 2008 22:06:25 GMT)

$50,000 housing boost for State's low-income earners Home loan bonanza
ELIGIBLE first-home owners in Tasmania who buy a new house can now get up to $75,000 in government assistance. The State Government yesterday announced its $8 million HomeShare shared equity scheme, which will make up to $50,000 available for low- income earners getting a new house built. (Fri, 28 Nov 2008 22:25:00 GMT)

Mortgage lenders warned: Treat home repossessions as a LAST resort - or risk unlimited fines
Mortgage lenders have been ordered to treat home repossession as a last resort. (Fri, 28 Nov 2008 22:27:06 GMT)

Federal Home Loan Bank of San Francisco Releases October 2008 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced November 28, 2008, that the 11th District Monthly Weighted Average Cost of Funds Index for October 2008 is 3.125%. (Fri, 28 Nov 2008 23:13:00 GMT)

Borrowers get gift of lower mortgage rates
Mortgage rates plunged after the Federal Reserve announced that it would buy up to $500 billion of securitized home loans. (Sat, 29 Nov 2008 01:47:51 GMT)

Mortgage lenders told to be fair over arrears
Mortgage lenders were on Friday warned they could face fines unless they treat customers who go into arrears fairly. In a letter sent to all mortgage lenders and administrators, the Financial Services Authority reminded lenders of their obligations and said it expected them to review their policies. (Sat, 29 Nov 2008 03:18:35 GMT)

Extra mortgage payments do not count as advance payments
Dear Edith: If you prepay the principal on a mortgage, and run into a cash crunch, do you get any "credit" for the amount prepaid? That is, if you are unable to come up with the money for one month's payment, but had prepaid a substantial amount, would you still be in danger of foreclosure? Thinking of a situation where we have prepaid and then... (Sat, 29 Nov 2008 05:09:01 GMT)

Mortgage rates fall; inquiries on the rise
Telephones are ringing -- and ringing -- at mortgage brokers' offices around the country after this week's sharp drop in mortgage rates. (Sat, 29 Nov 2008 09:26:19 GMT)

Home loan change may boost sales
PETERSBURG — Good news for homeowners looking to refinance or those who aspire to buy a new home — they can now qualify for larger Federal Housing Administration mortgage loans. (Sat, 29 Nov 2008 09:42:36 GMT)

Q: How will the government's plan this week to buy $600 billion in mortgage-related securities help homeowners?
A: The Federal Reserve's plan is designed to help slow falling home prices and rising foreclosures, and possibly kick-start demand in the stagnant housing market. The average interest rate on a 30-year, fixed-rate mortgage Wednesday was 5.76 percent, the lowest it has been since February, according to HSH Associates. (Sat, 29 Nov 2008 09:52:10 GMT)

Federal Home Loan Bank gives eight grants for affordable housing
The Federal Home Loan Bank of Cincinnati this week announced eight grants totaling more than $2.3 million for 155 units of affordable housing projects benefiting low- and very-low-income residents of Greater Cincinnati and Northern Kentucky. (Sat, 29 Nov 2008 10:43:12 GMT)

Meltdown far from over, new mortgage crisis looms
Meltdown far from over, new mortgage crisis looms (Sat, 29 Nov 2008 10:53:11 GMT)

Ohio wins court settlement against mortgage lender
COLUMBUS (AP) - A bankrupt subprime lender accused of shoddy practices has been barred from accepting mortgage applications in Ohio, state Attorney General Nancy Rogers announced Wednesday. (Sat, 29 Nov 2008 12:19:59 GMT)

Meltdown far from over, new mortgage crisis looms
WASHINGTON -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market. (Sat, 29 Nov 2008 13:07:01 GMT)

Mortgage payments sometimes rank low in priority
Study: Borrowers default on home loans before car loans, credit cards. Behind the mortgage crisis lurks some consumer behavior that, at first glance at least, seems puzzling. (Sat, 29 Nov 2008 18:12:07 GMT)

Meltdown far from over, commercial mortgage crisis looms
WASHINGTON (AP) — Black Friday’s retail shoppers hunting for holiday bargains won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market. (Sat, 29 Nov 2008 18:18:43 GMT)

SoCal Assemblyman Pushes Mortgage Moratorium Plan
An assemblyman from the South Bay says he will try again to get the California Legislature to approve a moratorium on mortgage foreclosures, a plan backed by the governor but strongly opposed by the state's banks, it was reported Saturday. (Sat, 29 Nov 2008 18:40:44 GMT)

Home sales down for October, trend holds steady
WENATCHEE - The number of year-to-date area home sales through October remained about 30 percent below 2007, a trend that has held throughout the year, a local industry report shows. (Sat, 29 Nov 2008 21:09:54 GMT)

New Orleans home-loan program builds slowly
Mortgages can be forgiven for some (Sun, 30 Nov 2008 04:36:14 GMT)

Some buyers may see higher loan rates
Anyone looking to buy or refinance a relatively costly Greater Boston home should move quickly if they want to avoid higher mortgage rates. That's because federal... (Sun, 30 Nov 2008 05:39:23 GMT)

Mortgage rates drop below 6%
WASHINGTON -- Rates on 30-year mortgages sank for a fourth straight week, falling below 6 percent for the first time since early October, and are heading lower due to the government's massive new effort to aid the U.S. housing market. (Sun, 30 Nov 2008 08:17:44 GMT)

Fighting foreclosure: How one couple got caught in mortgage crisis
MARYSVILLE -- Terry and Lloyd Berger live in their dream house in Marysville. Members of their extended family live nearby. "I love Marysville," said Terry Berger, 52. "I'm from here. I don't want to move out of here." (Sun, 30 Nov 2008 08:20:44 GMT)

You can qualify for mortgage, it's just tougher
There is something that mortgage lenders want Bay Area home buyers to know: They are open for business. While it is certainly harder to get a loan today than it was two years ago, lenders say it's far from impossible for would-be borrowers with the right... (Sun, 30 Nov 2008 08:32:53 GMT)

Tougher lending has silver lining for home-buyers
First-time home buyers don't despair - banks might be tightening their lending criteria but it's not all bad news for those struggling to get on the property ladder. (Sun, 30 Nov 2008 08:56:07 GMT)

Consumer Loan Rates
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, 30 Nov 2008 09:11:13 GMT)

Home loan change may boost sales
PETERSBURG — Good news for homeowners looking to refinance or those who aspire to buy a new home — they can now qualify for larger Federal Housing Administration mortgage loans. (Sun, 30 Nov 2008 09:41:55 GMT)

Mortgage rates dip for fourth consecutive week
WASHINGTON, D.C. (AP) - Rates on 30-year mortgages sank for a fourth straight week, falling below 6 percent for the first time since early October, and are heading lower because of the government's massive new effort to aid the U.S. housing market. (Sun, 30 Nov 2008 12:04:54 GMT)

Editorial: Fed Targets Mortgage Markets
The federal government's dizzying series of bailouts finally has taken aim at the industry where the cash can do the most good - housing. (Sun, 30 Nov 2008 13:31:05 GMT)

Some buyers may see higher loan rates
Anyone looking to buy or refinance a relatively costly Greater Boston home should move quickly if they want to avoid higher mortgage rates. That's because federal... (Sun, 30 Nov 2008 14:09:23 GMT)

Great Wolf Lodge trying to renegotiate mortgage
The Great Wolf Lodge isn't out of the woods, but it isn't sunk yet either. (Sun, 30 Nov 2008 16:50:08 GMT)

Banks to cut lending rates by up to 50 bps in Dec
Auto and home loan seekers can expect further cut in the lending rates with the public sector banks gearing up for the second round of cut in the benchmark lending rates by up to 50 basis points during December. (Sun, 30 Nov 2008 20:06:50 GMT)

Scotiabank Launches Scotia Mortgage Authority, Reinforces Link to Independent Brokers
Celebrating the successful integration of Scotia Express Service and Maple Trust Company, Scotiabank today announced the launch of Scotia Mortgage Authority. (Sun, 30 Nov 2008 20:30:00 GMT)

Scotiabank launches Scotia Mortgage Authority
Celebrating the successful integration of Scotia Express Service and Maple Trust Company, Bank of Nova Scotia announced the launch of Scotia Mortgage Authority on Sunday. (Sun, 30 Nov 2008 21:10:57 GMT)

RBS promises mortgage respite
The political and public campaign to force Britain’s banks to do more to help customers weather the economic downturn will gain impetus on Monday with a promise from Royal Bank of Scotland to give at least six months’ breathing space to homeowners who fall behind with mortgage payments. (Sun, 30 Nov 2008 22:14:10 GMT)

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