Mortgage News Dec 2008

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Lessons Learned: Low-cost mortgage could be a big gift
December is dwindling down to a precious few days. Yet, there may still be time to power shop for a major family gift — a low-cost home mortgage. Fixed rates available on 30-year and 15-year loans are the lowest in a half century. (Fri, 12 Dec 2008 18:17:35 GMT)

Home Refinancing
One good thing about this awful economy is that if you’re looking to refinance your home, or buy a new one, mortgage rates have dropped. But closing costs are thousands of dollars. So how do you know if refinancing is worth your while? And when should you do it? (Fri, 12 Dec 2008 18:24:59 GMT)

Banks want subsidy to cut home loan rates
Public sector banks are likely to announce a 50 to 100 basis point cut in interest rates on home loans up to Rs 20 lakh. The government is also considering an interest subvention for loans below Rs 5 lakh. (Fri, 12 Dec 2008 18:56:42 GMT)

GGP Completes $896M in Refinancing Activity; Pays off $58M Rouse Bond
Mall REIT, General Growth Properties, Inc. (NYSE:GGP), announced today it completed $896 million in mortgage loan refinancing activity with maturities ranging from five to seven years. GGP said this activity is not related to the $900 million in debt... (Fri, 12 Dec 2008 19:50:59 GMT)

Federal Home Loan Bank of Atlanta Announces Fourth Quarter Dividend Guidance
Based upon currently available information, the Federal Home Loan Bank of Atlanta presently expects to pay an annualized dividend in the range of 0.00 to 1.00 percent for the quarter ending Dec. 31, 2008. (Fri, 12 Dec 2008 20:11:00 GMT)

Home loan package to be finalised next week
The package for extending home loans at affordable rates will be finalised early next week as the government is yet to decide on the issue of giving interest subsidy for loans below Rs 5 lakh. (Fri, 12 Dec 2008 20:14:34 GMT)

Rate cuts easing mortgage stress: HIA
The Housing Industry Association (HIA) says recent interest rate cuts have eased mortgage stress. (Fri, 12 Dec 2008 20:21:00 GMT)

Smarter home loan management
It is not the end of financial crisis management with just the banks lowering their interest rates for home loans. Harsh Roongta explains how one can go about ironing out the wrinkles in the home finance kitty. (Fri, 12 Dec 2008 20:26:51 GMT)

Mall owner refinances mortgage debt
Shares of Oxmoor Center and Mall St. Mathews owner General Growth Properties shot more than 25 percent higher after announcing that it had successfully refinanced $896 million of mortgage loans that were coming due. (Fri, 12 Dec 2008 20:45:15 GMT)

Home-loan workouts are floundering
Sixty percent are back in default. But opportunities abound for those who haven't gone upside-down. (Fri, 12 Dec 2008 23:44:21 GMT)

New York Times set to mortgage its building to ease cashflow through downturn
The New York Times is planning to sell or mortgage its headquarters to raise $225m. By Mark Sweney (Sat, 13 Dec 2008 00:58:01 GMT)

Home buyers look for their own bailout with a 4.5% mortgage rate
News that the Treasury Department is working on plans to stimulate real estate sales by lowering loan rates has the opposite effect because customers don't want to miss out. Could a 4.5% mortgage be your personal piece of the bailout pie? (Sat, 13 Dec 2008 01:24:27 GMT)

Refinancing? Start Process Now For Good Rate
Mortgage rates dropped to a four year low this week, causing a spike in loan applications. (Sat, 13 Dec 2008 01:39:05 GMT)

Should You Refinance Your Mortgage Now?
(Sat, 13 Dec 2008 02:06:57 GMT)

Mortgage woes limit housing complex’s options
The Rockford Housing Authority is $2.3 million in mortgage payments shy of taking aim at Concord Commons with a wrecking ball. But if the agency continues to make monthly payments at its current rate, 20 to 25 years may pass before it can even entertain options for redeveloping the site of 216 public housing units, RHA Executive Director Steven Anderson said. (Sat, 13 Dec 2008 04:15:28 GMT)

Weston Rep. Stripp announces new hotline for Mortgage foreclosure assistance
Residents facing mortgage problems such as unaffordable adjustable rates or delinquent payments can often prevent foreclosure, said Rep. John Stripp (R-135) in a recent release. “But it takes action on the part of the stressed-out mortgage holder,” he said. (Sat, 13 Dec 2008 05:01:03 GMT)

Abbey explains mortgage warning
The Abbey bank has to explain a letter it sent to some mortgage customers warning of the impact of lower house prices on their contracts. (Sat, 13 Dec 2008 05:12:56 GMT)

Home loan package to be finalised next week
The package for extending home loans at affordable rates will be finalised early next week as the government is yet to decide on the issue of giving interest subsidy for loans below Rs 5 lakh. (Sat, 13 Dec 2008 05:14:33 GMT)

Audit criticizes mortgage regulation
State lawmakers are criticizing Nevada's Division of Mortgage Lending after getting an audit that says the agency failed to adequately regulate mortgage companies. (Sat, 13 Dec 2008 06:08:50 GMT)

Lessons Learned: Low-cost mortgage could be a big gift
December is dwindling down to a precious few days. Yet, there may still be time to power shop for a major family gift — a low-cost home mortgage. Fixed rates available on 30-year and 15-year loans are the lowest in a half century. (Sat, 13 Dec 2008 06:33:05 GMT)

Ready to buy? Check out this mortgage glossary
Now is absolutely one of the best times to purchase or refinance a home in the past two years. In spite of the gloom and doom talk about the stock market and our impending economic crisis, if you’ve even had a passing thought about buying or refinancing, you should at least check it out. (Sat, 13 Dec 2008 06:41:43 GMT)

Kenneth Harney: Don't count on US-backed 4.5% mortgage money
Could a 4.5 percent mortgage be your personal piece of the bailout pie? (Sat, 13 Dec 2008 07:21:13 GMT)

Columbia developer trying to refinance
General Growth Properties, the owner of several regional malls and Columbia's master developer, said yesterday it was trying to refinance two loans worth $900 million. (Sat, 13 Dec 2008 08:30:33 GMT)

Columbia developer trying to refinance
General Growth Properties, the owner of several regional malls and Columbia's master developer, said yesterday it was trying to refinance two loans worth $900 million. (Sat, 13 Dec 2008 08:34:16 GMT)

Should you refinance your mortgage now?
Today's new, lower rates could drop even further, says mortgage maven Keith Gumbinger. If you've got a jumbo ARM, you might want to wait (Sat, 13 Dec 2008 09:11:51 GMT)

With mortgage rates in flux, some wait
What to do if you've found a house at a great price and you're ready to apply for a mortgage but don't want to miss out on potentially lower rates. (Sat, 13 Dec 2008 10:11:19 GMT)

Banks want subsidy to cut home loan rates
Public sector banks are likely to announce a 50 to 100 basis point cut in interest rates on home loans up to Rs 20 lakh. The government is also considering an interest subvention for loans below Rs 5 lakh. (Sat, 13 Dec 2008 11:29:42 GMT)

Home loan package to be finalised next week
The package for extending home loans at affordable rates will be finalised early next week as the government is yet to decide on the issue of giving interest subsidy for loans below Rs 5 lakh. (Sat, 13 Dec 2008 11:59:24 GMT)

How to get your dream home loan
Tough new loan rules requiring homebuyers to stump up 20 per cent of the cost of a house should not stop those who are serious about getting onto the property ladder. (Sat, 13 Dec 2008 15:17:05 GMT)

Should You Refinance Your Mortgage Now?
Applications for mortgage refinancing tripled in early December on news that the U.S. Federal Reserve will buy up to $600 billion of mortgage debt. (Sat, 13 Dec 2008 16:12:00 GMT)

Home loan package to be finalised next week
The package for extending home loans at affordable rates will be finalised early next week as the government is yet to decide on the issue of giving interest subsidy for loans below Rs 5 lakh. (Sat, 13 Dec 2008 19:15:34 GMT)

Smarter home loan management
It is not the end of financial crisis management with just the banks lowering their interest rates for home loans. Harsh Roongta explains how one can go about ironing out the wrinkles in the home finance kitty. (Sat, 13 Dec 2008 21:27:13 GMT)

4 face charges in mortgage fraud
RALEIGH — Five people have been charged with a $6million mortgage-fraud scheme in Columbus County, the U.S. Attorney Office in Raleigh announced on Friday. (Sun, 14 Dec 2008 05:13:20 GMT)

Mortgage fraud is booming business for prosecutors
SACRAMENTO, Calif. — Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing raveling of the nation's mortgage-backed security mess. (Sun, 14 Dec 2008 06:21:08 GMT)

Lessons Learned: Low-cost mortgage could be a big gift
December is dwindling down to a precious few days. Yet, there may still be time to power shop for a major family gift — a low-cost home mortgage. Fixed rates available on 30-year and 15-year loans are the lowest in a half century. (Sun, 14 Dec 2008 06:36:05 GMT)

Remortgaging Now Could Avoid Future Mortgage Debt, Says Think Money
Financial solutions company Think Money have said that remortgaging in the near future could help homeowners to reduce their outgoings and avoid falling into mortgage arrears - an increasing problem for British households - and added that mortgage rates could become even lower if the Bank of England lower the base rate further, as predicted. (Sun, 14 Dec 2008 07:01:00 GMT)

For some, mortgage delinquency just a game
Are homeowners purposely falling behind on their mortgage payments to qualify for cheaper home loans? Economists, lenders and other housing experts are concerned that programs to bail out troubled homeowners might have an unintended consequence: encouraging people to miss payments so they can qualify for programs that ease loan terms. (Sun, 14 Dec 2008 07:08:05 GMT)

Mortgage modifications may be option if facing foreclosure
Foreclosure — the word sends chills and worries through the air as many homeowners are juggling rising household expenses, including the mortgage payment, with a downturn in the economy. (Sun, 14 Dec 2008 07:22:10 GMT)

Weigh your needs when deciding loan options
Question: We are buying a second home in Arizona and are debating whether to combine the loan with our first mortgage on our home in the Seattle area or having two loans. (Sun, 14 Dec 2008 08:10:22 GMT)

Possibility of lower mortgage rate makes some reluctant to buy now
Kenneth Harney -- Nation's Housing Could a 4.5 percent mortgage be your personal piece of the bailout pie? (Sun, 14 Dec 2008 08:30:43 GMT)

Good time to consider refinancing home
Is now the best time to refinance? Now is certainly a good time to look at refinancing your home. Mortgage rates have come down dramatically but they are still relatively high in relation to the 10-year Treasury note. (Sun, 14 Dec 2008 08:31:06 GMT)

Gold Star Mortgage Financial doubling offices, hiring in downturn
While the mortgage industry experiences its toughest times in decades, Gold Star Mortgage Financial Group of Ann Arbor is growing. (Sun, 14 Dec 2008 08:33:29 GMT)

Special home loan package likely on Monday
MUMBAI: The much-awaited details of the incentives for home loan borrowers up to Rs 20 lakh are likely to be made public on Monday. (Sun, 14 Dec 2008 08:34:33 GMT)

Mortgage fraud a booming business for prosecutors
SACRAMENTO, Calif. -- Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the unraveling of the nation's mortgage-backed security mess. (Sun, 14 Dec 2008 09:41:01 GMT)

Two Rivers loan practices draw fire
TWO RIVERS The president of the Two Rivers City Council is calling for changes to the committee responsible for approving and administering business loans through the citys Revolving Loan Fund. (Sun, 14 Dec 2008 10:17:36 GMT)

Widespread mortgage fraud keeps the prosecutors busy
Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing unraveling of the nation's mortgage-backed security mess. (Sun, 14 Dec 2008 14:32:35 GMT)

Home sales aren't in the basement, but not raising the roof either
To a degree, new home construction in Greater Lafayette is following a disappointing national trend, taking a downward spiral to lows not seen in more than a decade. (Sun, 14 Dec 2008 19:40:30 GMT)

Home owners could be forced to pay back thousands of pounds on their mortgages
Home owners could be forced to pay back thousands of pounds of their mortgage if property prices fall too sharply it has been disclosed. (Sun, 14 Dec 2008 21:10:37 GMT)

Smarter home loan management
It is not the end of financial crisis management with just the banks lowering their interest rates for home loans. Harsh Roongta explains how one can go about ironing out the wrinkles in the home finance kitty. (Sun, 14 Dec 2008 22:12:13 GMT)

Banks ready with rate relief for home buyers
New Delhi, Dec. 14: Banks are keen to offer home loans at an interest rate of 9.25-9.75 per cent for amounts ranging from Rs 5 lakh to Rs 20 lakh. (Sun, 14 Dec 2008 22:16:46 GMT)

Mortgage fraud keeps prosecutors busy
Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing unraveling of the nation's mortgage-backed security mess. (Sun, 14 Dec 2008 22:16:52 GMT)

Huntsman Budget Contains Mortgage Relief
Gov. Jon Huntsman's new budget proposes the government purchase of mortgaged-backed securities held by Utah lenders. Utah Housing Corp. President Bill Erickson says the plan will help find buyers for some of the 4,000 unsold new houses on the market in Utah, by making more mortgage funding available. "It's harder for buyers to get a mortgage, so our attempt is to develop an alternative source of ... (Mon, 15 Dec 2008 00:10:09 GMT)

A Second Mortgage Disaster On The Horizon?
The mortgage mess that touched off the financial meltdown is far from over, with a second wave of expected defaults on the way that could deepen the bottom of this recession. Scott Pelley reports. (Mon, 15 Dec 2008 02:00:06 GMT)

Prime mortgage arrears worst for 8 years
Prime mortgage borrowers are struggling to keep up their payments – the proportion of top-quality loans held in asset-backed securities that are at least one month in arrears has risen 50 per cent. (Mon, 15 Dec 2008 02:12:36 GMT)

Cox Joins Home Federal Bank In Yankton
Home Federal Bank has announced the addition of Stacey Cox as business banker in their Yankton Main branch. Cox will be responsible for business development, business relationship management, commercial loans, lines of credit, and commercial real estate in Yankton and the surrounding communities. (Mon, 15 Dec 2008 02:53:26 GMT)

Free Mortgage Crisis Hotline Offered In S.D.
PIERRE — The Homeownership Education Research Organization (HERO), an affiliate of South Dakota Housing Development Authority (SDHDA), recently announced that a toll-free South Dakota Mortgage Crisis Hotline is now available to connect homeowners directly to certified default and foreclosure counselors across the state. (Mon, 15 Dec 2008 04:10:29 GMT)

State banks to unveil special home loan plan-paper
MUMBAI, Dec 15 (Reuters) - State-run banks will unveil special home loan plans on Monday as part of the federal government's stimulus package, the Economic Times newspaper reported. (Mon, 15 Dec 2008 05:03:29 GMT)

State banks to unveil special home loan plan-paper
MUMBAI, Dec 15 (Reuters) - State-run banks will unveil special home loan plans on Monday as part of the federal government's stimulus package, the Economic Times newspaper reported. (Mon, 15 Dec 2008 05:03:29 GMT)

Struggling homeowners not tapping mortgage services
Distressed mortgage borrowers have numerous avenues for assistance as they face financial burdens related to their home loans and the down housing market. (Mon, 15 Dec 2008 06:28:38 GMT)

Lessons Learned: Low-cost mortgage could be a big gift
December is dwindling down to a precious few days. Yet, there may still be time to power shop for a major family gift — a low-cost home mortgage. Fixed rates available on 30-year and 15-year loans are the lowest in a half century. (Mon, 15 Dec 2008 06:34:37 GMT)

John Price, president and CEO, Federal Home Loan Bank of Pittsburgh
John Price, president and CEO, Federal Home Loan Bank of Pittsburgh, describes the financial climate as “a very dizzying time.” His career includes a stint in the Nixon White House as special assistant for urban affairs and 29 years at what is now JPMorgan Chase, New York City. He joined FHLBank in January 2006. FHLBank is one of 12 federal home loan banks. It provides low-cost funding and ... (Mon, 15 Dec 2008 06:54:50 GMT)

The interest rate will be set for five years, and borrowers will be required to pay 10% of the value of the home loan ...
State Bank of India Chairman O.P. Bhatt was quoted as saying that the PSU banks will cap the interest rate at 8.5% for home loans up to Rs5lakhs. The interest rate will be set for five years, and borrowers will be required to pay 10% of the value of the home loan as a down-payment, Bhatt added. (Mon, 15 Dec 2008 07:04:04 GMT)

Second-home loan restrictions may soon be lifted
Restrictions on financial institutions issuing loans to second-home buyers may soon be relaxed, Shanghai Securities News reported on Dec 15. (Mon, 15 Dec 2008 08:00:25 GMT)

New Zealand's Housing Affordability Shows Record Improvement On Lower Mortgage Rates
(RTTNews) - A sharp reduction in mortgage rates drove to a record improvement in New Zealand's housing affordability in November to its best level in three and a half years, the Wizard Home Loans Affordability report showed Monday. (Mon, 15 Dec 2008 08:08:22 GMT)

New Zealand's Housing Affordability Shows Record Improvement On Lower Mortgage Rates
(RTTNews) - A sharp reduction in mortgage rates drove to a record improvement in New Zealand's housing affordability in November to its best level in three and a half years, the Wizard Home Loans Affordability report showed Monday. (Mon, 15 Dec 2008 08:08:22 GMT)

Mortgage rates are down, but can they fall further?
Mortgage rates have been on the decline, but speculation is rife that rates are headed still lower. I spoke Friday with Scott Ractliffe, president of the Tennessee Mortgage Bankers Association, about whether now is the right time to refinance or consider a home loan. (Mon, 15 Dec 2008 08:23:14 GMT)

Refinancing A Silver Lining For Some
HARRISONBURG - Chris Grefe is getting a piece of the government bailout. Well, not really, but he is benefiting from the billions of dollars the Federal Reserve plans to pour into the struggling mortgage giants Fannie Mae and Freddie Mac. (Mon, 15 Dec 2008 08:36:12 GMT)

Creating A Tax-Deductible Canadian Mortgage
The way that mortgages are treated in the Canadian tax code is slightly different than in the U.S. One main difference is that the interest on a mortgage for a principal private residence in Canada is not tax deductible . However, no taxes are payable on any capital gains upon selling the home. (Mon, 15 Dec 2008 09:00:36 GMT)

State-owned Indian banks cut home loan rates
(RTTNews) - Public sector banks on Monday announced a maximum interest of 8.5% for home loans up to Rs 5.00 lakh, while those between Rs 5-20 lakh would be offered at 9.25%. They have also said that the banks will not charge processing fees and pre-payment charges for loans up to Rs 20 lakh, and would also provide free insurance cover. (Mon, 15 Dec 2008 09:38:49 GMT)

Lower rates causing jump in new loan and refi customers
SANTA CRUZ -- As interest rates drop, local loan officers are seeing a big jump in the number of applications for mortgage refinancing and new home loans, mirroring a nationwide phenomenon. (Mon, 15 Dec 2008 09:48:48 GMT)

Home loan package to benefit common man: IBA
As part of the IBA package, housing loans up to Rs 500,000 and between Rs 500,000 and Rs 20 lakhs would attract a maximum interest rate of 8.5 per cent and 9.25 per cent, respectively, for the first five years. To a question on possible increase in disbursal of home loans after implementation of the package, he said the numbers could be gauged in a fortnight. (Mon, 15 Dec 2008 10:41:58 GMT)

Bancolombia divests mortgage loans
Bancolombia has sold mortgage loans in Pesos to Titularizadora Colombiana amounting to approximately $65.6 million. (Mon, 15 Dec 2008 10:57:11 GMT)

Mortgage woes require a pro's help
Millions of Americans are in mortgage trouble. Fortunately, a lot of help is available right now. (Mon, 15 Dec 2008 11:00:00 GMT)

7 golden home loan rules
Interest rate cuts on home loans are once again the talk of the town. Even as public sector banks today announced rate cuts on home loans below Rs 5 lakh and Rs 20 lakh private sector banks are likely to follow suit. (Mon, 15 Dec 2008 11:14:41 GMT)

Free Mortgage Crisis Hotline Offered In S.D.
PIERRE — The Homeownership Education Research Organization (HERO), an affiliate of South Dakota Housing Development Authority (SDHDA), recently announced that a toll-free South Dakota Mortgage Crisis Hotline is now available to connect homeowners directly to certified default and foreclosure counselors across the state. (Mon, 15 Dec 2008 11:24:39 GMT)

The Homeowner Mortgage Support Scheme
How does this work? It effectively lets struggling homeowners take a ‘mortgage holiday’ if they lose their job or part of their income, by letting them defer interest payments for up to two years. The government acts as guarantor if the borrower then defaults. (Mon, 15 Dec 2008 11:41:13 GMT)

Home loan package to benefit common man: IBA
Justifying the threshold of Rs 20 lakh for interest rate relief announced for home loan borrowers, Indian Banks Association (IBA) today said the package will take care of housing requirements of the common man. (Mon, 15 Dec 2008 13:10:10 GMT)

Mortgage fraud cases are booming
Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing unraveling of the nation's mortgage-backed security mess. (Mon, 15 Dec 2008 13:55:10 GMT)

Mortgage modifications may be option if facing foreclosure
Foreclosure — the word sends chills and worries through the air as many homeowners are juggling rising household expenses, including the mortgage payment, with a downturn in the economy. (Mon, 15 Dec 2008 14:37:09 GMT)

Prime mortgage borrowers struggle with payments report says
Mortgage borrowers with a good credit history are struggling to keep up with their payments a new report has disclosed. (Mon, 15 Dec 2008 14:55:47 GMT)

Financial crisis threatening CV community center
The Conestoga Valley Community Center may be forced to close at the end of January.Its directors are seeking loans from private investors and donations from members, and are trying to refinance a $1.3 million mortgage in a last-ditch effort to save the financially troubled recreation center.The cent... (Mon, 15 Dec 2008 16:40:16 GMT)

Mortgage paid off early at Ruth Hughes; hours extended
IMLAY CITY -- Officials at the Ruth Hughes Memorial Library have found a way to save taxpayers $56,000. Kristen Valyi-Hax, the library's director, proudly announced Thursday that thanks to community support, a mortgage has been paid off 10 years early. The debt is from 2002 or 2003. (Mon, 15 Dec 2008 17:48:04 GMT)

Prime mortgage arrears worst for eight years
Prime mortgage borrowers are struggling to keep up their payments – the proportion of top-quality loans held in asset-backed securities that are at least one month in arrears has risen 50 per cent. (Mon, 15 Dec 2008 18:12:46 GMT)

Wimer joins Mortgage Network Inc.
PORTSMOUTH – Mortgage Network, Inc., the largest independent mortgage company, also known as MNET Mortgage Corporation, recently announced that Karen Wimer has been named a senior loan officer at the Portsmouth, NH retail office located at 2456 Lafayette... (Mon, 15 Dec 2008 18:33:12 GMT)

No gain for old home loan customers
MUMBAI: Will existing customers benefit from the new home loan rates announced by public sector banks (PSBs)? Many existing home loan customers were asking that question on Monday. (Mon, 15 Dec 2008 18:39:59 GMT)

The Hindu Business Line : Home loan package: Most realtors disappointed
New Delhi, Dec. 15 The home loan package announced by public sector banks on Monday left the real estate industry a tad disappointed, as most realtors had expected steeper interest rate cuts. (Mon, 15 Dec 2008 19:10:44 GMT)

iEmergent Offers Simplified Versions of Market Intelligence Data for Mortgage Industry
iEmergent, a Des Moines, Iowa-based market research, forecasting and advisory services firm for the financial services, mortgage and real estate industries, issued specialized versions of its market data reports for lenders of all sizes who are interested in using affordable forecasting tools to improve performance. (Mon, 15 Dec 2008 19:56:17 GMT)

Govt banks lower home loan rates
Private banks say they’ll wait and watch. After a week of discussions, government-owned banks today lowered interest rates on new home loans up to Rs 20 lakh. (Mon, 15 Dec 2008 20:09:54 GMT)

Proposed 4.5% Mortgages Unlikely for Refinancing (Update1)
Dec. 15 (Bloomberg) -- A plan under consideration by the Treasury to push home-loan rates down to 4.5 percent will likely exclude refinancings to keep the U.S. budget from swelling further and to prevent disruptions in the mortgage-bond market, analysts at Barclays Capital Inc. and JPMorgan Chase & Co. said. (Mon, 15 Dec 2008 20:55:14 GMT)

Realtors cheer home loan sops
Real estate developers expect the concessional home loan package announced by public sector banks On Monday to bring down interest rates on home loans across categories and spur a further demand for housing from them. (Mon, 15 Dec 2008 21:02:30 GMT)

Maryland Department of Housing and Community Development cuts mortgage rates
Maryland’s housing department has cut the cost of its mortgage rates by three quarters of a percent, a move that comes as home sales in Greater Baltimore continue a downward descent and foreclosures increase across the state. (Mon, 15 Dec 2008 21:47:34 GMT)

Mortgage Crisis Help
Ben Little was laid off from his paving job without a paycheck this father of two is struggling to care for his family and keep his mortgage lender from taking his house. "I got like 25 days before I lose my house my two kids," said Little. Ben turned to the Pennsylvania Housing Finance Agency for help. "I've never seen anything like this market before this is historic quite truthfully," said ... (Mon, 15 Dec 2008 22:40:32 GMT)

Home loan rates cut
The Indian Banks Association (IBA) on Monday announced a special home loan scheme, aimed at borrowers in the Rs 5 lakh to Rs 20 lakh category. This is also expected to perk up the over-stressed realty market. (Mon, 15 Dec 2008 22:48:15 GMT)

AIG sells mortgage securities to Fed-backed vehicle
NEW YORK—American International Group Inc. life insurance units sold a pool of about $39.3 billion in residential mortgage-backed securities to a special purpose vehicle backed by the Federal Reserve Bank of New York, the insurer announced Monday. (Mon, 15 Dec 2008 23:37:01 GMT)

AIG Sells Estimated $39.3 Bln In Mortgage-backed Securities
AIG Sells Estimated $39.3 Bln In Mortgage-backed Securities (Mon, 15 Dec 2008 23:38:28 GMT)

AIG sells mortgage-backed securities portfolio
American International Group Inc. said Monday it sold its portfolio of residential mortgage-backed securities worth $39.3 billion to an entity backed by the U.S. government. (Mon, 15 Dec 2008 23:41:42 GMT)

AIG Sells Mortgage-Backed Securities to Fed Vehicle (Update1)
Dec. 15 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S. government, sold residential mortgage-backed securities with a face value of $39.3 billion to a facility funded by the Federal Reserve. (Mon, 15 Dec 2008 23:45:17 GMT)

AIG sells mortgage securities to Fed vehicle
American International Group Inc. said Monday its U.S. life insurance companies sold their interests in $39.3 billion worth of residential mortgage-backed securities to a vehicle owned by the Federal Reserve Bank of New York. (Tue, 16 Dec 2008 00:36:47 GMT)

AIG Sells Mortgage-Backed Securities to Fed Vehicle (Update2)
Dec. 15 (Bloomberg) -- American International Group Inc. sold residential mortgage-backed securities with a face value of $39.3 billion to a government-funded facility as the U.S. seeks to limit losses at companies that did business with the insurer. (Tue, 16 Dec 2008 00:50:11 GMT)

N.J. legislature approves mortgage foreclosure aid
Legislation to help struggling homeowners refinance their houses or continue to live there as tenants while they regroup financially has been approved in New Jersey. The Mortgage Stabilization and Relief Act cleared the Assembly and Senate today. It now heads... (Tue, 16 Dec 2008 00:56:13 GMT)

Mortgage renegotiator opens in CdA
A new Coeur d’Alene company has found a promising niche in mortgage loan modification just as Idaho and Washington officials are advising consumers to be cautious using such services. (Tue, 16 Dec 2008 01:06:00 GMT)

Middleton's Mortgage IT to close, lay off 72
Bad economic news continues. Mortgage IT, Inc. in Middleton has informed the state Department of Workforce Development that it plans to shut down its Middleton office, 1350 Deming Way."This mass layoff, which resulted from the severe economic conditions, will affect approximately 72 employees and is expected to be permanent," parent company Deutsche Bank said in a letter to the DWD. Founded in ... (Tue, 16 Dec 2008 01:09:30 GMT)

Realtors cheer home loan sops
Real estate developers expect the concessional home loan package announced by public sector banks On Monday to bring down interest rates on home loans across categories and spur a further demand for housing from them. (Tue, 16 Dec 2008 02:16:26 GMT)

Refinancing Your Home an Option with Rates Low
ATLANTA (MyFOX Atlanta) -- Potential home buyers sitting on the fence may now have a pretty good reason to take the plunge. Interest rates are now at historic lows. (Tue, 16 Dec 2008 03:52:27 GMT)

Home loan rules
Interest rate cuts on home loans are once again the talk of the town. Even as public sector banks today announced rate cuts on home loans below Rs 5 lakh and Rs 20 lakh private sector banks are likely to follow suit. (Tue, 16 Dec 2008 04:29:21 GMT)

Australian couple loses home via Facebook
You've been "superpoked" — and served. An attorney in Australia has used the popular networking Web site Facebook to notify a couple that they lost their home after defaulting on a loan. (Tue, 16 Dec 2008 05:00:51 GMT)

Australian couple loses home via Facebook
You've been "superpoked" and served. An attorney in Australia has used the popular networking website Facebook to notify a couple that they lost their home after defaulting on a loan. (Tue, 16 Dec 2008 05:07:55 GMT)

Developer GGP negotiating for an extension on $900 million in mortgage loans for 2 malls
Area mall owner and Columbia master developer General Growth Properties Inc. said yesterday that it is still negotiating for an extension of the maturity date on $900 million in mortgage loans for two Las Vegas malls. (Tue, 16 Dec 2008 08:30:43 GMT)

Q: What about these deals that offer to buy the house for my mortgage balance?
A: Mortgage financer Fannie Mae advises that such offers, which sometimes come with additional cash, could be a scam. (Tue, 16 Dec 2008 09:58:08 GMT)

Kouts wants to help with mortgage payments
KOUTS | With unemployment and foreclosures rising, the Town Council agreed to set aside some money from its share of the county economic development income tax for the next three years to provide mortgage relief to residents in need. (Tue, 16 Dec 2008 10:56:06 GMT)

Ready to Refinance or Waiting It Out? Set Your Target Mortgage Interest Rate at MortgageRateNotifier.com and Be ...
SAN ANTONIO----Just this month, The New York Times reported that mortgage rates are expected to fall to the mid-4% range and a refinancing boom won’t be far behind . MortgageRateNotifier.com wants Texas homeowners to be ready when that happens with its free mortgage rate notification service. (Tue, 16 Dec 2008 11:30:00 GMT)

Ready to Refinance or Waiting It Out? Set Your Target Mortgage Interest Rate at MortgageRateNotifier.com and Be ...
Just this month, The New York Times reported that mortgage rates are expected to fall to the mid-4% range and a refinancing boom won’t be far behind ( A Rush Into Refinancing as Mortgage Rates Fall ). MortgageRateNotifier.com wants Texas homeowners to be ready when that happens with its free mortgage rate notification service. (Tue, 16 Dec 2008 11:56:27 GMT)

Va. mortgage firm ordered to halt phone solicitations
The Howard County Office of Consumer Affairs has issued a cease-and-desist order to a Virginia-based mortgage company that has been making telephone solicitations to government employees for reduced-rate mortgages, the county announced yesterday. M&S Financial is not licensed in Maryland as a mortgage or consumer loan lender and had been using an automated dialing system that left recorded ... (Tue, 16 Dec 2008 12:03:01 GMT)

Govt banks lower home loan rates
Private banks say they’ll wait and watch. After a week of discussions, government-owned banks today lowered interest rates on new home loans up to Rs 20 lakh. (Tue, 16 Dec 2008 12:56:49 GMT)

Refinance Requests Up 230 Percent as Mortgage Rates Continue Downward Spiral
Year Rate Now at 4.98%, According to Zillow® Mortgage Rate Monitor (Tue, 16 Dec 2008 13:00:00 GMT)

NJ lawmakers approve mortgage foreclosure aid
Legislation to help struggling homeowners refinance their houses or continue to live there as tenants while they regroup financially has been approved in New Jersey. (Tue, 16 Dec 2008 13:09:11 GMT)

Realtors cheer home loan sops
Real estate developers expect the concessional home loan package announced by public sector banks On Monday to bring down interest rates on home loans across categories and spur a further demand for housing from them. (Tue, 16 Dec 2008 13:12:23 GMT)

Mortgage Bankers Association gives award
The Kentucky Housing Corporation and its director of homeownership programs, Brenda Walker, have received the 2008 President’s Award for Lifetime Achievement from the Mortgage Bankers Association of Louisville. (Tue, 16 Dec 2008 15:09:49 GMT)

AIG Sells Residential Mortgage-Backed Securities Portfolio to Government
American International Group's life insurance companies have sold residential mortgage-backed securities with a face value of $39.3 billion to the Federal Reserve Bank of New York (FRBNY) as part ... (Tue, 16 Dec 2008 15:14:54 GMT)

Fitch: Securitized-Mortgage Modifications To Surge
Some 15% of securitized mortgages made from 2005 to 2007 will be modified next year, predicts Fitch Ratings, as it expects investors to seek ways to limit further losses on residential mortgage-backed securities. (Tue, 16 Dec 2008 15:38:17 GMT)

Mortgage Lender Residential Finance Corp. Announces Latest Promotions
COLUMBUS, Ohio----Residential Finance Corporation , a nationwide mortgage lender specializing in refinance, today announced its latest round of promotions as the company continues to expand operations. (Tue, 16 Dec 2008 15:47:00 GMT)

Federal Home Loan Bank of Boston Elects Four Directors
The Federal Home Loan Bank of Boston announced the 2008 election results for its board of directors. The following directors' new terms will commence on January 1, 2009, and expire on December 31, 2012: (Tue, 16 Dec 2008 16:55:00 GMT)

Fitch Takes Various Rating Actions on GS Mortgage Securities Corp. II 1998-C1; Assigns Outlooks
NEW YORK----Fitch Ratings has lowered the Distressed Recovery rating on one class of GS Mortgage Securities Corp. II's commercial mortgage pass-through certificates, series 1998-C1, as follows: (Tue, 16 Dec 2008 17:28:00 GMT)

BlackRock Chosen by Fed to Manage AIG Mortgage Assets (Update1)
Dec. 16 (Bloomberg) -- BlackRock Inc. , the largest publicly traded asset manager in the U.S., has been selected by the New York Federal Reserve to run the facility that bought mortgage- backed securities from American International Group Inc. (Tue, 16 Dec 2008 17:30:36 GMT)

Nationwide in 95% mortgage market
Nationwide has announced plans to re-enter the 95% mortgage market but it will offer the deals only to its existing customers. The group said from Wednesday it would advance up to 95% of a property's value to existing mortgage customers who need to borrow more because they are moving home. (Tue, 16 Dec 2008 17:33:50 GMT)

Fitch Affirms Chase Commercial Mortgage Securities 2000-3; Assigns Stable Outlooks
CHICAGO----Fitch Ratings affirms Chase Commercial Mortgage Finance Corp., commercial mortgage pass-through certificates, series 2000-3 and assigns Rating Outlooks as follows: (Tue, 16 Dec 2008 18:23:00 GMT)

Realtors cheer home loan sops
Real estate developers expect the concessional home loan package announced by public sector banks On Monday to bring down interest rates on home loans across categories and spur a further demand for housing from them. (Tue, 16 Dec 2008 18:58:22 GMT)

IRS to help homeowners refinance or sell homes
The IRS is trying to make it easier for homeowners in financial straits to refinance or sell their homes. (Tue, 16 Dec 2008 19:07:00 GMT)

IRS to help homeowners refinance or sell homes
The IRS is trying to make it easier for homeowners in financial straits to refinance or sell their homes. (Tue, 16 Dec 2008 19:07:00 GMT)

U.S.-backed banks could be mortgage aid tool: sources
A network of government-backed lenders could become conduits for fresh mortgage financing under a plan being mulled by U.S. policy-makers, sources familiar with the plan said on Tuesday. (Tue, 16 Dec 2008 19:11:56 GMT)

IRS moves to help distressed homeowners refinance or sell homes
WASHINGTON - The IRS is trying to make it easier for homeowners in financial straits to refinance or sell their homes. The tax agency says it will speed up a process where federal tax liens do not inhibit efforts to refinance or restructure a mortgage loan. (Tue, 16 Dec 2008 19:16:57 GMT)

IRS to help homeowners refinance or sell homes
The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes. (Tue, 16 Dec 2008 19:21:45 GMT)

Govt banks lower home loan rates
Private banks say they’ll wait and watch. After a week of discussions, government-owned banks today lowered interest rates on new home loans up to Rs 20 lakh. (Tue, 16 Dec 2008 19:26:42 GMT)

Realtors cheer home loan sops
Real estate developers expect the concessional home loan package announced by public sector banks On Monday to bring down interest rates on home loans across categories and spur a further demand for housing from them. (Tue, 16 Dec 2008 19:28:52 GMT)

Mortgage rates continue to decline in Pennsylvania and nationwide
Mortgage rates dropped yet again last week, with the national average for a 30-year fixed mortgage at 5.15 percent, according to real estate Web site Zillow.com. (Tue, 16 Dec 2008 19:29:26 GMT)

IRS to help homeowners refinance or sell homes
Tue, Dec 16, 2008 (11:42 a.m.) The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes. (Tue, 16 Dec 2008 19:57:54 GMT)

Crescenzi Sees Fed Plans Sending Mortgage Rates To 5%
Crescenzi Sees Fed Plans Sending Mortgage Rates To 5% (Tue, 16 Dec 2008 20:38:18 GMT)

National City’s mortgage fails to gain priority over liens on Petoskey Pointe property
In the latest development regarding the lawsuits against Petoskey Pointe developers, a circuit court judge denied a motion by National City Bank’s lawyers, who sought to establish their client’s mortgage as a priority over the lien claims against the property. (Tue, 16 Dec 2008 20:49:58 GMT)

Home loan sops to help DDA allottees
Many of the 5,238 individuals, whose names figured in the draw of lots by the Delhi Development Authority (DDA) On Tuesday could be among the first beneficiaries of the new home loan package announced by public sector banks. (Tue, 16 Dec 2008 20:58:48 GMT)

U.S.-backed banks could be mortgage aid tool: sources
WASHINGTON (Reuters) - A network of government-backed lenders could become conduits for fresh mortgage financing under a plan being mulled by U.S. policy-makers, sources familiar with the plan said on Tuesday. (Tue, 16 Dec 2008 21:12:48 GMT)

Will the Fed's Moves Help Lower Mortgage Rates? Analysts Mixed on Outlook
With its interest rate cut decision and policy pronouncements Wednesday, some analysts say the Federal Reserve reinforced the government’s commitment to continue supporting the mortgage and housing markets through lower mortgage rates – and that rates could be headed down even more. (Tue, 16 Dec 2008 22:08:38 GMT)

Mortgage-Bond Yields Fall to Record Lows as Fed May Buy More
Dec. 16 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds declined to record lows after the Federal Reserve said it may increase purchases of the securities, indicating home-loan rates will fall. (Tue, 16 Dec 2008 22:10:08 GMT)

Treasury not seeking to set mortgage rates at 4.5%, Paulson says
Treasury secretary says he isn’t contemplating a plan to set a 4.5%-target mortgage rate for new home loans, though he acknowledges working to lower mortgage rates. (Tue, 16 Dec 2008 22:37:26 GMT)

Mortgage-Bond Yields Fall to Record Lows as Fed May Buy More
Dec. 16 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds declined to record lows after the Federal Reserve said it may increase purchases of the securities in a move that may lower home-loan rates. (Tue, 16 Dec 2008 22:40:16 GMT)

BlackRock Chosen by Fed to Manage AIG Mortgage Assets (Update2)
Dec. 16 (Bloomberg) -- BlackRock Inc. , the largest publicly traded asset manager in the U.S., has been selected by the New York Federal Reserve to run the facility that bought mortgage- backed securities from American International Group Inc. (Tue, 16 Dec 2008 23:41:48 GMT)

South Korea says no risk of local mortgage crisis
SEOUL, Dec 17 (Reuters) - South Korea said on Wednesday it sees no risk of a U.S.-style mortgage crisis in the country, despite recently falling housing prices, because the country has long restricted home-backed loans. (Tue, 16 Dec 2008 23:44:35 GMT)

Home Buyers Turn to USDA for Mortgages
Home buyers in overbuilt exurbs are tapping an obscure home-loan program originally created to aid rural development. (Tue, 16 Dec 2008 23:52:49 GMT)

Mortgage-Bond Yields Fall to Record Lows as Fed May Buy More
Dec. 16 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds declined to record lows after the Federal Reserve said it may increase purchases of the securities, indicating home-loan rates may also soon fall to records. (Wed, 17 Dec 2008 00:09:21 GMT)

Mortgage-Bond Yields Fall to Record Lows as Fed May Buy More
Dec. 16 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds declined to record lows after the Federal Reserve said it may increase purchases of the securities, indicating home-loan rates may also soon fall to records. (Wed, 17 Dec 2008 00:10:11 GMT)

Federal Home Loan Bank of Seattle Announces Board of Director Election Results
SEATTLE----The Federal Home Loan Bank of Seattle today announced the election of Les AuCoin of Ashland, Oregon, and David F. Wilson of Ketchum, Idaho, to the Seattle Bank’s Board of Directors. (Wed, 17 Dec 2008 01:19:00 GMT)

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