Mortgage News Dec 2008
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Mortgage applications post largest gain ever
NEW YORK (Reuters) - Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday. (Wed, 03 Dec 2008 22:33:52 GMT)
Treasury mulls plan to lower mortgage rates to 4.5%
Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5%, an industry source said. (Thu, 04 Dec 2008 00:43:17 GMT)
US rescue plan to push down home loan rates
The US Treasury is working on a new plan to help revive the ailing housing market by reducing mortgage rates on new home loans, according to people briefed on the situation. (Thu, 04 Dec 2008 01:14:03 GMT)
Banks slash home loan rates
Banks moved within hours to slash home loan rates in the wake of the Reserve Bank cutting its official cash rate by a record 1.5%age points to 5%. State-owned Kiwibank said it was offering a one-year fixed rate of 6.49% and a variable rate of 7.45%. (Thu, 04 Dec 2008 01:44:17 GMT)
Financial industry pushes for lower mortgage rates
WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market. (Thu, 04 Dec 2008 03:06:16 GMT)
Time to refinance? Mortgage rates historically low
The Federal Reserve announced last week that it would purchase up to $100 billion in direct debt of Fannie, Freddie, and the Federal Home Loan Banks, along with up to $500 billion of mortgage-backed securities backed by Fannie, Freddie and Ginnie... (Thu, 04 Dec 2008 03:27:46 GMT)
Treasury Weighs Action on Mortgage Rates
The Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates and stimulate the moribund housing market, according to sources familiar with the proposal. (Thu, 04 Dec 2008 03:33:15 GMT)
U.S. working on affordable mortgage plan: sources
WASHINGTON (Reuters) - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday. (Thu, 04 Dec 2008 04:32:49 GMT)
Proposal could drop mortgage rates to 4.5 percent
If Treasury Department approves plan, said one mortgage broker, 'We would have everybody and their brother who had equity in their homes coming to refinance. That would be an amazing influx of loan applications. It would keep things going for a long, long time.' Real estate news | Economic crisis news (Thu, 04 Dec 2008 05:00:45 GMT)
A Rush Into Refinancing as Mortgage Rates Fall
The Treasury?s efforts to jump-start the housing market led to a surge in mortgage refinancing activity, and officials are considering new ways to entice buyers. (Thu, 04 Dec 2008 05:23:31 GMT)
Mortgage Application, Refinance Volume Surge
Mortgage application volume more than doubled during the shortened Thanksgiving week, according to the Mortgage Bankers Association’s weekly applicati.... (Thu, 04 Dec 2008 06:12:48 GMT)
Refinancing could save big money
HARLINGEN - Homeowners struggling to pay high-interest loans stand to save big money by refinancing their mortgages, mortgage brokers said Wednesday. "One of the big things right now is refinancing," said Robert Becerra of MTL Mortgage in Harlingen. (Thu, 04 Dec 2008 06:24:13 GMT)
Doris J. Dungey; Blogger Chronicled Mortgage Crisis
Doris J. Dungey, 47, an influential blogger who under the pseudonym Tanta wrote about the failing U.S. mortgage industry, died of ovarian cancer Nov. 30 at Ohio State University Medical Center in Columbus. She previously lived in Upper Marlboro. (Thu, 04 Dec 2008 08:53:26 GMT)
Mortgage rates continue to decline
Last week's plunge in mortgage rates led to a surge in refinance applications. And rates are even lower this week. (Thu, 04 Dec 2008 11:00:00 GMT)
Lower mortgage rates spur refinancing
The housing market may finally be getting some much-needed relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. (Thu, 04 Dec 2008 11:11:34 GMT)
Mortgage rates continue to decline
Last week's plunge in mortgage rates led to a surge in refinance applications. And rates are even lower this week. (Thu, 04 Dec 2008 11:49:21 GMT)
Low rates breathe life into mortgage market
A recent half-percentage-point drop in 30-year home loans is jolting a mortgage market that has been weighed down by a nose-diving economy and troubled credit markets. (Thu, 04 Dec 2008 11:59:53 GMT)
Treasury may be considering mortgage help
WASHINGTON, Dec. 4 (UPI) -- The U.S. Treasury Department is considering direct intervention in the mortgage industry to drive down costs and lift the market, officials said. (Thu, 04 Dec 2008 12:47:02 GMT)
Ahead of the Bell: Plan could cut mortgage rates
Financial industry lobbyists are pushing the Treasury Department to enact a plan that could help send mortgage interest rates to as low as 4.5 percent in an effort to shake up the moribund housing market. (Thu, 04 Dec 2008 12:49:02 GMT)
Bankrate: Mortgage rates fall further
NEW YORK (MarketWatch) -- Mortgage rates dipped again this week, with the average 30-year fixed mortgage rate falling from 5.97% to 5.92%, according to Bankrate.com's weekly national survey. The average 15-year fixed rate mortgage dropped to 5.67%, while the average jumbo 30-year fixed rate slumped to 7.46%. Adjustable mortgage rates were in on the act too, with the average one-year ARM sinking ... (Thu, 04 Dec 2008 13:00:20 GMT)
A Rush Into Refinancing as Mortgage Rates Fall
The Treasurys efforts to jump-start the housing market led to a surge in mortgage refinancing activity, and officials are considering new ways to entice buyers. (Thu, 04 Dec 2008 13:13:25 GMT)
Mortgage-Bond Yields Plunge, Suggesting Record Home-Loan Rates
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds tumbled to the lowest on record following reports that Treasury Secretary Henry Paulson is considering a plan to push home-loan rates down to 4.5 percent. (Thu, 04 Dec 2008 15:01:04 GMT)
Mortgage-Bond Yields Plunge, Suggesting Record Home-Loan Rates
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds tumbled to the lowest on record following reports that Treasury Secretary Henry Paulson is considering a plan to push home-loan rates down to 4.5 percent. (Thu, 04 Dec 2008 15:09:53 GMT)
A Rush Into Refinancing as Mortgage Rates Fall
The Treasurys efforts to jump-start the housing market led to a surge in mortgage refinancing activity, and officials are considering new ways to entice buyers. (Thu, 04 Dec 2008 16:14:43 GMT)
Mortgages: CORRECT: Mortgage rates plummet after Fed action
Mortgage rates for fixed-rate loans plummeted this week, after the Federal Reserve's actions to increase liquidity in the mortgage market, Freddie Mac's chief economist says. (Thu, 04 Dec 2008 16:36:46 GMT)
Fannie Mae, Freddie Mac Mortgage-Bond Yields Fall (Update1)
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds fell as Treasury Secretary Henry Paulson considers a plan to push home-loan rates down to 4.5 percent. (Thu, 04 Dec 2008 16:55:14 GMT)
TEXT: Fed Chief on Housing, Mortgage Markets
Federal Reserve Chairman Ben Bernanke spoke Thursday on the state of housing and mortgage markets. (Thu, 04 Dec 2008 17:23:28 GMT)
FDIC's Bair warns investors fighting loan changes
Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a "backlash" from Congress, the head of the FDIC said Thursday. (Thu, 04 Dec 2008 17:55:26 GMT)
Sector Snap: Toll 4Q, mortgage rates lift builders
Homebuilder stocks continued to rally Thursday, after one of the largest builders reported stronger-than-expected quarterly sales and 30-year mortgage rates dropped to their lowest level since January. (Thu, 04 Dec 2008 18:15:50 GMT)
FDIC's Bair warns investors fighting loan changes
Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a "backlash" from Congress, the head of the FDIC said Thursday. Sheila Bair, the chairman of the Federal Deposit Insurance Corp.,... (Thu, 04 Dec 2008 18:37:06 GMT)
Mortgage rates continue to fall
Mortgage rates fell this week, reaching levels not seen since January, as the government steps up its efforts to aid the ailing housing market. (Thu, 04 Dec 2008 19:05:29 GMT)
Corrections: Mortgage rates plummet after Fed action
A Dec. 4 MarketWatch report on average mortgage rates misstated the date when fixed-rate mortgage rates last experienced this large of a decline. See corrected story. (Thu, 04 Dec 2008 19:07:00 GMT)
FDIC chief Bair says investors fighting loan changes could provoke backlash from Congress
Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a (Thu, 04 Dec 2008 19:31:04 GMT)
Sector Snap: Mortgage insurers mostly rise
Shares of mortgage insurers mostly rose Thursday, as the Treasury Department weighs new plans to revive the sagging housing market, including potentially lowering mortgage rates. (Thu, 04 Dec 2008 20:13:15 GMT)
Frank: New Rule On CEO Pay,mortgage Securitization Ahead
Frank: New Rule On CEO Pay,mortgage Securitization Ahead (Thu, 04 Dec 2008 20:38:38 GMT)
Fannie Mae, Freddie Mac Mortgage-Bond Yields Tumble (Update2)
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds fell as Treasury Secretary Henry Paulson considers a plan to push home-loan rates down to 4.5 percent to curb the yearlong U.S. recession. (Thu, 04 Dec 2008 20:55:21 GMT)
Kashkari: Treasury considering mortgage rate plan
The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. (Thu, 04 Dec 2008 22:47:09 GMT)
Banks see surge in mortgage refinancing
A record number of people are rushing to refinance their homes. (Thu, 04 Dec 2008 23:18:49 GMT)
Treasury Eyeing Mortgage Plan
Financial industry pushes program aimed at lowering rates on 30-year mortgage to 4.5%, reviving battered housing market (Thu, 04 Dec 2008 23:54:28 GMT)
Mortgage plan shows increased gov't role
If you're looking for a mortgage, Uncle Sam may be the only game in town. (Thu, 04 Dec 2008 23:56:50 GMT)
Mortgage plan shows increased gov't role
If you're looking for a mortgage, Uncle Sam may be the only game in town. The government has already increased its share of the mortgage market to around 90 percent from around 55 percent last year as Wall Street licks its wounds from a sharp spike in defaults, and cash-strapped lenders shy away from almost any borrower who doesn't have platinum credit and a big down payment. (Thu, 04 Dec 2008 23:56:50 GMT)
Mortgage Rate Drop Causing Local Residents To Refinance
the average mortgage amount in Rockford is $139,000. (Fri, 05 Dec 2008 00:16:56 GMT)
MyState cuts home loan rates by .9 per cent
TASMANIA'S largest local financial institution MyState this morning announced a .9 per cent interest rate drop on all its home loans. (Fri, 05 Dec 2008 00:23:56 GMT)
Lower mortgage rates no silver bullet
Reducing mortgage rates to a historically low 4.5% may entice some home buyers out of the shadows, but it won't be enough to really spur housing sales, experts said. (Fri, 05 Dec 2008 00:35:26 GMT)
Mortgage plan shows increased gov't role
If you're looking for a mortgage, Uncle Sam may be the only game in town. The government has already increased its share of the mortgage market to around 90 percent from around 55 percent last year as Wall Street licks its wounds from a sharp spike in... (Fri, 05 Dec 2008 00:50:37 GMT)
Marin homeowners jump on low mortgage rates
Many Marin homeowners are rushing to refinance home loans, part of a national trend as borrowers seek to capitalize on tumbling mortgage rates. (Fri, 05 Dec 2008 01:02:39 GMT)
British banks tentative on mortgage plan
LONDON, Dec. 4 (UPI) -- Several British banks Thursday contradicted the government's claim that they had endorsed Prime Minister Gordon Brown's mortgage rescue plan. (Fri, 05 Dec 2008 01:19:20 GMT)
Don’t count on mortgage rates falling further
GREENVILLE — Lenders said Thursday that Upstate homeowners are backing out of mortgage refinancing deals after hearing of a proposal floated by lobbyists that could cut rates even more, even though the proposal might never come to pass. Bankers and mortgage lenders said they received numerous calls on the news that financial industry lobbyists are urging the U.S. Treasury to lower rates, ... (Fri, 05 Dec 2008 05:11:03 GMT)
Rush to re-fi as mortgage rates drop
Mortgage rates experienced their largest one-week decline in 27 years, the mortgage finance giant Freddie Mac reported Thursday, spurring a surge in refinance applications in Minnesota and across the country that spanned the Thanksgiving week. (Fri, 05 Dec 2008 06:30:42 GMT)
Mortgage plan raises hopes, red flags
Lenders said Thursday that Upstate homeowners are backing out of mortgage refinancing deals after hearing of a proposal floated by lobbyists that could cut rates even more, even though the proposal might never come to pass. (Fri, 05 Dec 2008 07:13:10 GMT)
Uncertain impact of US push to cut mortgage rates
Another week, another proposal to shore up plummeting US home values. This time, the US Treasury Department is considering a plan to dramatically push down mortgage rates, which it hopes will stimulate demand for new homes. (Fri, 05 Dec 2008 08:00:00 GMT)
Staying Afloat in today's economy by refinancing
The housing market may be getting some much-needed relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. (Fri, 05 Dec 2008 08:33:09 GMT)
FDIC's Bair warns investors fighting loan changes
WASHINGTON -- Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a "backlash" from Congress, the head of the FDIC said Thursday. (Fri, 05 Dec 2008 08:58:12 GMT)
Loan trio ready for home debuts
Eastbourne Borough's three new loan signings are set to make their home debuts as they welcome relegation threatened Northwich Victoria to Priory Lane tomorrow. (05/12/2008 10:21:43) (Fri, 05 Dec 2008 10:34:08 GMT)
Answers to 6 key refinance questions
Dr. Don Taylor answers 6 key frequently asked question about the mortgage refinancing process. (Fri, 05 Dec 2008 11:00:00 GMT)
Professor: Mortgage help unfair but needed
SAN DIEGO, Dec. 5 (UPI) -- Some homeowners who make their mortgage payments on time say they are irritated that the U.S. government is helping others who don't. (Fri, 05 Dec 2008 12:45:12 GMT)
Kashkari: Treasury considering mortgage rate plan
WASHINGTON -- The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. (Fri, 05 Dec 2008 13:12:21 GMT)
Mortgage plan shows increased gov't role
WASHINGTON -- If you're looking for a mortgage, Uncle Sam may be the only game in town. (Fri, 05 Dec 2008 13:47:59 GMT)
Rush to re-fi as mortgage rates drop
Mortgage rates experienced their largest one-week decline in 27 years, the mortgage finance giant Freddie Mac reported Thursday, spurring a surge in refinance applications in Minnesota and across the country that spanned the Thanksgiving week. (Fri, 05 Dec 2008 14:27:18 GMT)
A rush into refinancing as mortgage rates fall
(From The New York Times ) The housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers. (Fri, 05 Dec 2008 15:25:59 GMT)
More than 1 in 10 Texas mortgage holders face home loss
More than one in 10 Texan mortgage holders are facing the loss of their home. A just-released report on nationwide mortgage delinquency and foreclosure says that Texas is one of the top 10 states for late loan payments. (Fri, 05 Dec 2008 15:35:28 GMT)
Mortgage Delinquencies, Foreclosures Rise to Record (Update2)
Dec. 5 (Bloomberg) -- One in 10 Americans fell behind on their mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled. (Fri, 05 Dec 2008 16:24:00 GMT)
Mortgage Datapoint of the Day
Who can get a 123% loan-to-value mortgage these days? George W Bush, that's who! He's just taken out a $3,074,239 loan from Community National Bank in Midland, Texas, to buy an 8,500 bungalow in Dallas which was appraised at $2.5 million earlier this year. (Fri, 05 Dec 2008 16:31:17 GMT)
Fed Rule Would Expand Home Loan Disclosure Requirements
WASHINGTON -(Dow Jones)- The Federal Reserve Board Friday proposed changes to its consumer protection regulations that could make way for borrowers to get clearer, more timely information on more types of home loans. (Fri, 05 Dec 2008 16:52:35 GMT)
Lower mortgage rates no silver bullet
Reducing mortgage rates to a historically low 4.5% may entice some homebuyers out of the shadows, but it won't be enough to really spur housing sales, experts said. (Fri, 05 Dec 2008 17:26:00 GMT)
Brother, Can You Spare A Mortgage Payment?
A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy. (Fri, 05 Dec 2008 17:30:07 GMT)
Brother, Can You Spare A Mortgage Payment?
A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy. (Fri, 05 Dec 2008 17:30:07 GMT)
Late mortgage payments and foreclosures hit record
Late mortgage payments and the rate of home loans in foreclosure rose to record highs in the third quarter, threatening to escalate as the recession erases jobs and further strains homeowners, the Mortgage Bankers Association said on Friday. (Fri, 05 Dec 2008 17:57:31 GMT)
Mortgage Delinquencies, Foreclosures Rise to Record (Update3)
Dec. 5 (Bloomberg) -- One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled. (Fri, 05 Dec 2008 19:17:34 GMT)
Treasury's Plan for Mortgage Rates Could Be Costly
Critics say the plan to lower mortgage rates could cost $25 billion a year, or more (Fri, 05 Dec 2008 19:28:34 GMT)
Home loan troubles break records again
A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. (Fri, 05 Dec 2008 21:00:11 GMT)
Is Now The Time To Buy A House Or Refinance?
Mortgage rates are close to the lowest they've been in nearly 20 years — but they could fall further. So when is the right time to buy or refinance, and what could drive down rates? Experts weigh in. (Fri, 05 Dec 2008 21:57:37 GMT)
Real Estate Weekly: Mortgage refinancing gets more attractive -- if you're approved
The large drop in mortgage rates last week caused a surge in mortgage applications, with refinance applications making up most of the activity, according to the Mortgage Bankers Association. (Fri, 05 Dec 2008 22:51:56 GMT)
Late mortgage payments and foreclosures hit record
NEW YORK (Reuters) - Late mortgage payments and the rate of home loans in foreclosure rose to record highs in the third quarter, threatening to escalate as the recession erases jobs and further strains homeowners, the Mortgage Bankers Association said on Friday. (Sat, 06 Dec 2008 02:34:35 GMT)
Home loan troubles break records again
WASHINGTON -- A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy. (Sat, 06 Dec 2008 02:35:07 GMT)
U.S. home loan woes again break records
A record 1 in 10 U.S. homeowners with a mortgage was either at least a month behind on payments or in foreclosure at the end of September, as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. The percentage of... (Sat, 06 Dec 2008 04:20:37 GMT)
Refinancing Your Mortgage
(Sat, 06 Dec 2008 04:45:50 GMT)
Falling mortgage rates encourage refinancing
Mortgage rates have dipped to unusually low levels, but few have noticed in the noise and confusion of the recession and the holidays. (Sat, 06 Dec 2008 06:40:34 GMT)
Home loan troubles break record
WASHINGTON – A record one in 10 American homeowners with a mortgage was either at least a month behind on the payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. Photo caption: A foreclosure sign stands on top of a sale sign outside a home for sale in the Denver suburb of Lakewood, Colo. Photo ... (Sat, 06 Dec 2008 08:14:30 GMT)
U.S. home loan woes again break records
A record 1 in 10 U.S. homeowners with a mortgage was either at least a month behind on payments or in foreclosure at the end of September, as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. The percentage of... (Sat, 06 Dec 2008 08:51:16 GMT)
Bernanke Stirs Pot On Home Loan Help
The government needs to move much more aggressively to help people avoid losing their homes to foreclosure, Federal Reserve Chairman Ben S. Bernanke said yesterday, trying to boost efforts that had stalled in recent weeks. (Sat, 06 Dec 2008 09:21:18 GMT)
Mortgage rates fall and fuel another refinancing boom
Refinancing activity accounted for 69.1 percent of all mortgage applications submitted two weeks ago, up from 49.3 percent the week before. (Sat, 06 Dec 2008 10:12:19 GMT)
MORTGAGE 'FALL BEHINDS' REACH AN ALL-TIME HIGH
One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world's largest economy shed jobs and real-estate prices tumbled. The share of mortgages 30 days or more overdue rose to a... (Sat, 06 Dec 2008 10:22:11 GMT)
Record 1-in-10 mortgage payers falling behind
A record 1-in-10 American homeowners with a mortgage was either at least a month behind on payments or in foreclosure at the end of September as the source of housing-market pressure shifted from risky loans to the crumbling U.S. economy. (Sat, 06 Dec 2008 11:00:33 GMT)
Freddie Mac Increases Support for Ailing Home Loan Market
Freddie Mac increased its support for the nation's ailing home loan market in October, in part playing the role the government desired when it seized the mortgage finance giant. (Sat, 06 Dec 2008 11:57:53 GMT)
Mortgage security rates fall after Fed action
NEW YORK -- Rates on Fannie Mae and Freddie Mac debt fell Tuesday _ a promising sign that homeowners' mortgage rates could decline, too _ after the Federal Reserve said it will buy up to $600 billion in mortgage-backed assets. (Sat, 06 Dec 2008 11:58:52 GMT)
Mortgage applications post largest gain ever
NEW YORK (Reuters) - Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday. (Sat, 06 Dec 2008 12:04:54 GMT)
U.S. working on affordable mortgage plan: sources
WASHINGTON (Reuters) - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday. (Sat, 06 Dec 2008 12:05:15 GMT)
Treasury Weighs Action on Mortgage Rates
The Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates and stimulate the moribund housing market, according to sources familiar with the proposal. (Sat, 06 Dec 2008 12:08:14 GMT)
Home loan troubles break records again
WASHINGTON -- A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. (Sat, 06 Dec 2008 12:18:31 GMT)
Home-loan picture is grimmer
(By Alan Zibel, Associated Press) A record one in 10 American homeowners with a mortgage were either a month or more behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. The percentage of loans at least a month overdue or in foreclosure was up from 9.2 percent in the April-June quarter ... (Sat, 06 Dec 2008 12:51:09 GMT)
Tips on whether to refinance your mortgage
The Federal Reserve's decision to buy up mortgaged-backed securities has caused mortgage rates to fall and created new opportunities. But it has also raised a question: Should you refinance your mortgage now? (Sat, 06 Dec 2008 15:40:35 GMT)
Mortgage Delinquencies, Foreclosures Rise to Record (Update3)
Dec. 5 (Bloomberg) -- One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled. (Sat, 06 Dec 2008 19:30:10 GMT)
Halifax defies Brown on mortgage rate cut
The country's biggest lender, Halifax, last night remained unrepentant about not passing on the full one percentage point cut to mortgage rates, despite intense pressure from Gordon Brown. The lender, part of HBOS, is receiving an £11.5bn government bail-out. It is being rescued by Lloyds TSB in which the taxpayer is expected to own around 40% when the controversial deal completes next year. ... (Sat, 06 Dec 2008 20:12:25 GMT)
Gary Umholtz joins RPM Mortgage
Gary Umholtz, longtime Sonoma loan consultant, has joined RPM Mortgage in their Sonoma Office at 827 Broadway. Umholtz is a senior loan consultant who has earned numerous awards for superior performance, volume and most importantly, customer satisfaction. (Sun, 07 Dec 2008 01:08:24 GMT)
Soft landings in home loan crash
Having trouble paying your mortgage? The public and private sectors keep coming up with foreclosure prevention programs, and last week, Fed Chairman Ben Bernanke urged them to devise even more. Unfortunately, no two programs are alike and the rules keep... (Sun, 07 Dec 2008 03:35:37 GMT)
Closing on Mortgage by Dec. 31 Could Earn Big Deductions
Weak housing prices are a seller's nightmare, but a boon for buyers able to scoop up a bargain. Although most expenses connected with buying a home are not deductible, there's a big exception when it comes to points paid to get a mortgage. Each point is 1 percent of the mortgage amount. So if you pay two points on a $200,000 mortgage, that's $4,000. (Sun, 07 Dec 2008 04:15:32 GMT)
Government main mortgage player
WASHINGTON - If you're looking for a mortgage, Uncle Sam may be the only game in town. (Sun, 07 Dec 2008 05:01:52 GMT)
Closing on Mortgage by Dec. 31 Could Earn Big Deductions
Weak housing prices are a seller's nightmare, but a boon for buyers able to scoop up a bargain. Although most expenses connected with buying a home are not deductible, there's a big exception when it comes to points paid to get a mortgage. Each point is 1 percent of the mortgage amount. So if you... (Sun, 07 Dec 2008 05:56:51 GMT)
Mortgage rates drop, prompting many to refinance homes — if they qualify
At last, borrowers are getting a break. (Sun, 07 Dec 2008 08:11:08 GMT)
Home loan troubles break records again
WASHINGTON — A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. (Sun, 07 Dec 2008 08:15:07 GMT)
Pay down the credit card, then the home equity loan
Credit card interest rates are usually much higher than those charged on home equity lines of credit, and bringing down a card balance can help your credit scores more. Dear Liz: We have credit card debt and a home equity line of credit. Which should we pay down when we get extra money? The credit card total is $15,000 and the home equity line balance is $44,000. (Sun, 07 Dec 2008 08:19:08 GMT)
Soft landings in home loan crash
Having trouble paying your mortgage? The public and private sectors keep coming up with foreclosure prevention programs, and last week, Fed Chairman Ben Bernanke urged them to devise even more. Unfortunately, no two programs are alike and the rules keep... (Sun, 07 Dec 2008 08:20:46 GMT)
Lower rates spark wave of refinancing
Mortgage bankers find selves busy as people rush to save. (Sun, 07 Dec 2008 08:29:54 GMT)
Things to do when your mortgage is paid
Q: I paid my mortgage off in late May. What should I expect to see in the way of documents? How do I really know it is complete? A: When you borrowed money to buy or refinance your home, you signed a mortgage document or a deed of trust. The latter is more... (Sun, 07 Dec 2008 08:35:07 GMT)
Exec had mortgage racket down to an art
Orson Benn, once a vice president at the nation's largest subprime lender, spent three years during the height of the housing boom tutoring Florida mortgage brokers in the art of fraud. (Sun, 07 Dec 2008 09:10:18 GMT)
Consumer Loan Reports
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, 07 Dec 2008 09:12:20 GMT)
Mortgage 'fix' not helpful to troubled homeowners
With one in 10 American mortgage-holders at least one month behind on their payments, the Treasury Department is coming up with yet another “fix” for the Great American Mortgage Crisis – which, not surprisingly, will do little to directly help current mortgage-holders. (Sun, 07 Dec 2008 11:16:21 GMT)
Special package for home loan borrowers up to Rs 20 lakh: Govt
The government said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakhs (Sun, 07 Dec 2008 12:47:58 GMT)
Special package for home loan borrowers
In order to boost the troubled housing sector, the government today said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakhs and promised measures that would accelerate the "growth trajectory". (Sun, 07 Dec 2008 12:55:06 GMT)
Exec had mortgage racket down to an art
Orson Benn, once a vice president at the nation's largest subprime lender, spent three years during the height of the housing boom tutoring Florida mortgage brokers in the art of fraud. (Sun, 07 Dec 2008 14:28:56 GMT)
Special package for home loan borrowers
In order to boost the troubled housing sector, the government on Sunday said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakh (Rs 2 million) and promised measures that would accelerate the "growth trajectory." (Sun, 07 Dec 2008 15:41:50 GMT)
Homeowners refinance, put savings in piggy banks
When mortgage rates dropped to the lowest levels in almost a year, Warren Zeger seized the opportunity to slash $720 off his monthly mortgage payment by refinancing his home in Potomac, Md. (Sun, 07 Dec 2008 18:36:45 GMT)
AP IMPACT: How mortgage giant Freddie Mac waged a war of influence that co-opted Congress
WASHINGTON - When the Washington Nationals played their first-ever baseball game in the nation's capital in April 2005, two congressmen who oversaw mortgage giant Freddie Mac had choice seats — courtesy of the very company they were supposed to be keeping an eye on. (Sun, 07 Dec 2008 18:39:32 GMT)
Homeowners refinance, put savings in piggy banks
When mortgage rates dropped to the lowest levels in almost a year, Warren Zeger seized the opportunity to slash $720 off his monthly mortgage payment by refinancing his home in Potomac, Md. Just don't expect him to spend the savings. "I'd love to tell you I'm going to spend it to help prop up the economy, but we've tightened our belts," said Zeger, 61, a retired attorney. "I plan on ... (Sun, 07 Dec 2008 18:45:01 GMT)
Homeowners refinance, put savings in piggy banks
When mortgage rates dropped to the lowest levels in almost a year, Warren Zeger seized the opportunity to slash $720 off his monthly mortgage payment by refinancing his home in Potomac, Md. Just don't expect him to spend the savings. "I'd love to tell you I'm... (Sun, 07 Dec 2008 19:05:48 GMT)
Homeowners refinance, put savings in piggy banks
-- When mortgage rates dropped to the lowest levels in almost a year, Warren Zeger seized the opportunity to slash $720 off his monthly mortgage payment by refinancing his home in Potomac, Md. (Sun, 07 Dec 2008 19:18:23 GMT)
Special package for home loan borrowers
In order to boost the troubled housing sector, the government today said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakhs and promised measures that would accelerate the "growth trajectory". (Sun, 07 Dec 2008 20:56:49 GMT)
Mortgage Agency Gets $7.3Bln
08 December 2008 The government will provide the Agency for Housing Mortgage Lending with 200 billion rubles ($7.2 billion) to support the mortgage market, Finance Minister Alexei Kudrin said Friday. (Sun, 07 Dec 2008 21:01:57 GMT)
Homeowners refinance and stash savings away
When mortgage rates dropped to the lowest levels in almost a year, Warren Zeger seized the opportunity to slash $720 off his monthly mortgage payment by refinancing. (Sun, 07 Dec 2008 21:35:04 GMT)
Home loan borrowers await goodies
New Delhi, Dec. 7 (PTI): The government today said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakh. (Sun, 07 Dec 2008 22:01:37 GMT)
Schumer warns of new mortgage scams
Chuck Schumer says scammers may try to take advantage of the recent drop in mortgage rates. (Mon, 08 Dec 2008 00:02:06 GMT)
FHA To Recapitalise Mortgage Arm
FHA Homes Limited, the mortgage arm of the Federal Housing Authorityis to be recapitalised and listed on the Nigerian Stock Exchange within 12 months, acting Managing Director of the Authority,Mr. Jube Jemide has promised. (Mon, 08 Dec 2008 00:20:00 GMT)
AP IMPACT: How mortgage giant Freddie Mac waged a war of influence that co-opted Congress
When the Washington Nationals played their first-ever baseball game in the nation's capital in April 2005, two congressmen who oversaw mortgage giant Freddie Mac had choice seats - courtesy of the very company they were supposed to be keeping an eye on. The Nationals tickets were bargains for Freddie Mac, part of a well-orchestrated, multimillion-dollar campaign to preserve its largely ... (Mon, 08 Dec 2008 00:34:59 GMT)
Falling mortgage rates offer chance
It's hard to believe that less than nine months ago this column featured suggestions for people facing big mortgage rate rises. Now, with floating mortgage rates falling fast, the advice is quite different. (Mon, 08 Dec 2008 01:03:25 GMT)
HSBC to increase mortgage lending
HSBC offered a boost to the beleaguered mortgage market after it revealed it planned to increase lending to UK homeowners by a fifth. (Mon, 08 Dec 2008 01:18:31 GMT)
Mortgage rates dip, then 'boom'
The battered mortgage brokers whoand#39;ve spent the last year under the dark cloud of a credit crunch found a bright spot just before Thanksgiving when interest rates dropped almost half a percentage point. (Mon, 08 Dec 2008 01:30:37 GMT)
HSBC to double mortgage lending
HSBC on Sunday bucked the trend for banks to pull out of the shrinking mortgage market by announcing plans to make £15bn ($22bn) of loans to UK homeowners next year – double the equivalent amount it lent last year. (Mon, 08 Dec 2008 02:28:16 GMT)
Special package for home loan borrowers
In order to boost the troubled housing sector, the government today said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakhs and promised measures that would accelerate the "growth trajectory". (Mon, 08 Dec 2008 03:12:01 GMT)
Refinancing Your Mortgage
(Mon, 08 Dec 2008 03:36:50 GMT)
Special package for home loan borrowers
In order to boost the troubled housing sector, the government today said public sector banks would soon unveil a package for those seeking home loans of up to Rs 20 lakhs and promised measures that would accelerate the "growth trajectory". (Mon, 08 Dec 2008 04:12:40 GMT)
Not just your mortgage: Other household costs go through roof
CHICAGO — Much attention has been given to homeowners struggling to make their mortgage payments but other household costs are also hammering both homeowners and renters alike, according to the Center for Housing Policy. (Mon, 08 Dec 2008 04:16:19 GMT)
When Lower Mortgage Rates Don't Boost House Prices
There's been some very good commentary in recent days about whether a reduction in mortgage interest rates might help boost house prices. Counterintuitively, the answer seems to be that there's a good chance it won't: ... (Mon, 08 Dec 2008 05:01:25 GMT)
Home-loan program shut down
Families may be in lurch after city closes assistance plan that went $6 million over budget. (Mon, 08 Dec 2008 06:52:06 GMT)
Free Home Loan Modification Kit Available To Distressed Home Owners
A free home loan modification kit available to distressed home owners so they can stay in their homes. Many banks are now offering loan modifications to their existing lenders. You can reduce your loan payments by 25% or more and save your home. (Mon, 08 Dec 2008 07:01:00 GMT)
FHB Profit Growth to Stagnate in 2009 as Mortgage Lending Slows
Dec. 8 (Bloomberg) -- Foldhitel es Jelzalogbank Nyrt. , Hungary’s second-biggest mortgage lender, said profit will stagnate next year as the mortgage market shrinks amid the country’s worst recession in fifteen years. (Mon, 08 Dec 2008 07:40:42 GMT)
HSBC Holdings Reportedly To Up U.K. Mortgage Lending Funding
HSBC Holdings Reportedly To Up U.K. Mortgage Lending Funding (Mon, 08 Dec 2008 08:08:08 GMT)
HSBC to increase mortgage lending
Those looking to buy homes got a boost after the bank said it will increase mortgage lending by a fifth. (Mon, 08 Dec 2008 08:26:13 GMT)
Free Home Loan Modification Kit Available To Distressed Home Owners
A free home loan modification kit available to distressed home owners so they can stay in their homes. Many banks are now offering loan modifications to their existing lenders. You can reduce your loan payments by 25% or more and save your home. (PRWeb Dec 8, 2008) Read the full story at http://www.prweb.com/releases/loan_modification_kit/modify_loan/prweb1713214.htm (Mon, 08 Dec 2008 08:27:15 GMT)
Mortgage stress hitting high end of town
Despite a string of recent interest rate cuts, mortgage stress is beginning to take its toll on wealthier Australians, according to leading consultancy firm Deloitte. (Mon, 08 Dec 2008 08:37:00 GMT)
Many not spending mortgage savings
When mortgage rates dropped to the lowest levels in almost a year, Warren Zeger seized the opportunity to slash $720 off his monthly mortgage payment by refinancing his home in Potomac, Md. (Mon, 08 Dec 2008 08:57:48 GMT)
Home loan troubles breaking records
WASHINGTON — A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted from risky loans to the crumbling U.S. economy. (Mon, 08 Dec 2008 10:20:13 GMT)
Refi boom might not follow bailout
A dramatic drop in mortgage rates has motivated some homeowners to wonder if they should refinance. A better question might be: Are they able to refinance? (Mon, 08 Dec 2008 11:00:00 GMT)
Jumbo mortgage deadline looms
Some mortgage borrowers are about to get squeezed by the shrinking of something called the jumbo conforming limit. (Mon, 08 Dec 2008 11:00:00 GMT)
HSBC pledges to up mortgage lending
HSBC has pledged to increase its mortgage lending in 2009 by 20 per cent. (Mon, 08 Dec 2008 11:39:18 GMT)
Mortgage holder challenges exit fee in court
A Victorian mortgage holder has lodged what may be a precedent-setting legal action over a $12,000 exit fee which her lender threatened if she switched home loans. (Mon, 08 Dec 2008 11:58:42 GMT)
HSBC promises huge mortgage investment
HSBC has predicted it could increase its gross mortgage market share by more than 10 per cent in 2009 as it pledges to up its UK mortgage budget by 20 per cent. ... (Mon, 08 Dec 2008 12:23:00 GMT)
Schumer warns of new mortgage scams
WASHINGTON — Sen. Charles Schumer says the recent drop in mortgage rates means scammers may try to take advantage of homeowners looking to save money in a recession by refinancing. (Mon, 08 Dec 2008 12:41:05 GMT)
Details may be scarce at 2nd meeting for Commercial Mortgage investors
Although early discussions have begun on a plan for Commercial Mortgage & Finance to emerge from bankruptcy protection, investors shouldn’t expect to get much information on the talks at this week’s creditors meeting. (Mon, 08 Dec 2008 12:45:30 GMT)
NYTCo Wants To Raise Up To $225 Million From Mortgage Or Sale-Lease Of Times HQ
Last month, The New York Times Company board cut the Sulzberger family take-home pay—and increased the flow of money to the company—by cutting dividends. This week, according to the NYT, it's planning to mortgage or even work a sales-lease on the family "home": up to $225 million on the 58 percent of the Times Tower owned by the company. (Mon, 08 Dec 2008 13:27:03 GMT)
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