Mortgage News Dec 2008
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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. (Wed, 17 Dec 2008 01:58:46 GMT)
Fed cut might have little impact on mortgage rates
The Federal Reserve took unprecedented steps Tuesday to bolster the crumbling economy that could ease interest rates on credit cards and other short-term loans but might have little impact on the mortgage market that ignited the crisis. In a surprise move,... (Wed, 17 Dec 2008 03:05:36 GMT)
IRS helps homeowners sell or refinance by easing tax liens
The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes. (Wed, 17 Dec 2008 04:03:19 GMT)
IRS to lower hurdle for distressed home sales, refinancing
The agency offers to be more lenient with homeowners facing liens on their property for delinquent taxes. The Internal Revenue Service said Tuesday that it would try to make it easier for homeowners in financial straits to refinance or sell their homes. (Wed, 17 Dec 2008 05:03:49 GMT)
Declining mortgage rates lure would-be homebuyers
If you've been thinking about buying a house or refinancing your mortgage, now might be the time. Thirty-year fixed-rate mortgages are now available in Fargo-Moorhead for less than 5 percent, local bankers say. Advertisement: ROAD WOLF MOTORCYCLE SPECS $65 Oil Change @ Road Wolf Motorcycles Text this to your phone and bring it in to Road Wolf Motorcycles and receive an oil change for ... (Wed, 17 Dec 2008 06:35:51 GMT)
Home loan sops to help DDA allottees
The new DDA flat buyers, who will pay between Rs 700,000 and Rs 77 lakhs (Rs 7.7 million), will gain from the 9.25 per cent interest rate ceiling on new home loans of up to Rs 20 lakhs (Rs 2 million). But a majority of the existing borrowers of private and public sector banks and housing finance companies will miss out on the government-driven initiative. (Wed, 17 Dec 2008 08:12:11 GMT)
Low rates spur mortgage inquiries
Lower interest rates boost consumer interest in mortgage loans, especially refinancings. (Wed, 17 Dec 2008 08:16:21 GMT)
Pressure on Rock 'makes mortgage famine worse'
MINISTERS have been accused of making a national mortgage famine worse by forcing Northern Rock to shut off new lending. (Wed, 17 Dec 2008 08:52:27 GMT)
Loan package fuels bank funds
The special home loan package announced by public sector banks boosted returns of banking sector-dedicated funds for the week to Monday. Banking funds registered 4.75 per cent average returns over the week. (Wed, 17 Dec 2008 12:15:16 GMT)
Refinancing drives mortgage applications up: MBA
Mortgage applications climbed last week, a trade group said on Wednesday, driven by demand for loans to refinance as government interventions helped drive down borrowing costs. (Wed, 17 Dec 2008 12:20:35 GMT)
Refinancing drives US mortgage applications up-MBA
NEW YORK, Dec 17 (Reuters) - U.S. mortgage applications climbed last week, a trade group said on Wednesday, driven by demand for loans to refinance as government interventions helped drive down borrowing costs. (Wed, 17 Dec 2008 12:24:07 GMT)
IRS to help homeowners refinance or sell homes
IRS to help homeowners refinance or sell homes WASHINGTON The Internal Revenue Service said yesterday that it will try to make it easier for homeowners in financial straits to refinance or sell their homes. The plan announced by IRS Commissioner Doug Shulman would speed up a process in which a financially distressed homeowner may request that a federal tax lien be made secondary to liens by the ... (Wed, 17 Dec 2008 12:48:05 GMT)
Refinancing drives mortgage applications up: MBA
NEW YORK (Reuters) - Mortgage applications climbed last week, a trade group said on Wednesday, driven by demand for loans to refinance as government interventions helped drive down borrowing costs. (Wed, 17 Dec 2008 12:50:22 GMT)
Refinancings continue to surge, Mortgage Bankers' data show
Filings to refinance existing mortgages pace a seasonally adjusted 2.9% increase in overall mortgage applications last week compared to the prior week, according to the Mortgage Bankers Association’s latest survey. (Wed, 17 Dec 2008 12:59:00 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. (Wed, 17 Dec 2008 12:59:28 GMT)
Overdue mortgage debt in Russia soars more than 6-fold in 9 mths - CB
MOSCOW. Dec 17 (Interfax) - Overdue debt on mortgage loans soared 6.2-fold to 5 billion rubles, or to 0.5% of total mortgage debt in January-September, the Central Bank said in its latest Banking Statistics Bulletin. (Wed, 17 Dec 2008 13:03:52 GMT)
U.S. MBA’s Mortgage Applications Index Rose 2.9% Last Week
Dec. 17 (Bloomberg) -- Mortgage applications in the U.S. increased 2.9 percent last week as more homeowners refinanced to take advantage of lower interest rates. (Wed, 17 Dec 2008 13:05:28 GMT)
Refinancings continue to surge, Mortgage Bankers' data show
Filings to refinance existing mortgages pace a seasonally adjusted 2.9% increase in overall mortgage applications last week compared to the prior week, according to the Mortgage Bankers Association’s latest survey. (Wed, 17 Dec 2008 13:06:46 GMT)
Declining mortgage rates lure would-be homebuyers
If you’ve been thinking about buying a house or refinancing your mortgage, now might be the time. Thirty-year fixed-rate mortgages are now available in Fargo-Moorhead for less than 5 percent, local bankers say. (Wed, 17 Dec 2008 13:10:37 GMT)
UPDATE: Refinancings Continue To Surge, Mortgage Bankers' Data Show
WASHINGTON (Dow Jones) -- Filings to refinance existing mortgages paced a seasonally adjusted 2.9% increase in overall mortgage applications last week compared to the prior week, the Mortgage Bankers Association's latest survey showed. (Wed, 17 Dec 2008 13:23:17 GMT)
UPDATE: Refinancings Continue To Surge, Mortgage Bankers' Data Show
WASHINGTON (Dow Jones) -- Filings to refinance existing mortgages paced a seasonally adjusted 2.9% increase in overall mortgage applications last week compared to the prior week, the Mortgage Bankers Association's latest survey showed. (Wed, 17 Dec 2008 13:23:17 GMT)
Refinancings Continue To Rise, Mortgage Bankers Data Show
Filings to refinance existing mortgages paced a seasonally adjusted 2.9% increase in overall mortgage applications last week from the week before, the Mortgage Bankers Association's latest survey showed. (Wed, 17 Dec 2008 13:23:37 GMT)
(AFX UK Focus) 2008-12-17 13:39 Refinancing drives US mortgage applications up-MBA
By Lynn Adler (Wed, 17 Dec 2008 13:43:59 GMT)
Refinancing Boosts Mortgage Applications
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume rose last week, boosted by a surge in refinancing. Applications increased nearly 3 percent from the previous week, and were up over 37 percent compared with the same week a year ago. (Wed, 17 Dec 2008 13:54:18 GMT)
Refinancing drives US mortgage applications up-MBA
NEW YORK, Dec 17 (Reuters) - U.S. mortgage applications climbed last week, a trade group said on Wednesday, driven by demand for loans to refinance as government interventions helped drive down borrowing costs. (Wed, 17 Dec 2008 13:55:54 GMT)
Mortgage Refinance Online
There are many different reasons people choose to refinance their mortgages. These reasons range from a desire to get lower mortgage payments, to draw money from their equity to use for home improvements or to consolidate debt, to gain flexibility, or to change from a variable rate to a fixed rate. (Wed, 17 Dec 2008 14:05:26 GMT)
Refinancing drives mortgage applications up as rates fall
Mortgage applications climbed last week, driven by refinancings, as borrowing costs fell, the Mortgage Bankers Assocation said Wednesday. (Wed, 17 Dec 2008 15:03:33 GMT)
Home loan rate flat after Fed cut and headed lower
An aggressive rate cut by the Federal Reserve on Tuesday did little to lower U.S. home loan costs, but the Fed's promise to expand a massive mortgage debt purchase program if needed should push rates down. (Wed, 17 Dec 2008 15:31:08 GMT)
Home loan rate cuts and YOU
Here's how the cut in interest rates on home loans announced on December 15 by the Indian Banks' Association is likely to have an impact on you. (Wed, 17 Dec 2008 17:14:20 GMT)
Controversial Mortgage Index Is Postponed
Can more information be a dangerous thing? That seems to be the question hovering over Markit , the financial information company that, according to TheStreet.com, has postponed the launch of a new index that would track the market for prime mortgage securities in the United States. (Wed, 17 Dec 2008 17:47:50 GMT)
Mortgage applications climb 2.9 percent
Mortgage application volume jumped last week, fueled by borrowers seizing on lower rates to refinance home loans, the Mortgage Bankers Association said Wednesday. (Wed, 17 Dec 2008 18:19:31 GMT)
Mortgage applications rise in week
The volume of applications for U.S. mortgages increased last week, rising by a seasonally adjusted 2.9 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, rose from 817.7 to 841.4 in the week ending Dec. 12, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also increased, up 6.5 percent to 4,156, the MBA ... (Wed, 17 Dec 2008 19:07:18 GMT)
Mortgage applications climb 2.9%
Associated Press - December 17, 2008 2:03 PM ET WASHINGTON (AP) - Borrowers taking advantage of lower rates to refinance home loans sent mortgage application volume higher last week. (Wed, 17 Dec 2008 19:13:26 GMT)
Lower rates boost mortgage applications 2.9 percent
Mortgage application volume jumped last week, fueled by borrowers seizing on lower rates to refinance home loans, the Mortgage Bankers Association said today. (Wed, 17 Dec 2008 19:13:40 GMT)
Rockford mortgage company’s CEO to resign
Anthony D’Agostino, Commercial Mortgage & Finance’s chief executive officer, will resign from the company at year’s end in the midst of its efforts to reorganize and emerge from bankruptcy protection. (Wed, 17 Dec 2008 19:15:31 GMT)
Mortgage applications climb 2.9%
WASHINGTON (AP) - Borrowers taking advantage of lower rates to refinance home loans sent mortgage application volume higher last week. The Mortgage Bankers Association says its application index rose 2.9% -- to 841.4 from a revised 817.7 a week earlier. (Wed, 17 Dec 2008 19:20:02 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. (Wed, 17 Dec 2008 19:28:52 GMT)
Loan package fuels bank funds
The special home loan package announced by public sector banks boosted returns of banking sector-dedicated funds for the week to Monday. Banking funds registered 4.75 per cent average returns over the week. (Wed, 17 Dec 2008 19:29:22 GMT)
IDBI shortlists 7 buyers for home loan subsidiary
Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. (Wed, 17 Dec 2008 20:28:39 GMT)
Mortgage market rebounds as trade gap narrows
The moribund U.S. mortgage market showed signs of life last week even before the Fed announced unconventional steps to revive the economy, while a key trade measure improved in the third quarter. (Wed, 17 Dec 2008 20:49:42 GMT)
Home loans cheapen after Fed steps in
The Federal Reserve's promise to expand a massive mortgage debt buying program pushed U.S. home loan rates to at least 5-year lows on Wednesday, putting them on track to hit the lowest levels in four decades. (Wed, 17 Dec 2008 22:10:00 GMT)
Mortgage rates are near 4.5%, a historic low
Mortgage rates are at or near historic lows, dropping quickly in the last couple days, spurring more homeowners to refinance at rates now hovering around 4.5%. (Wed, 17 Dec 2008 22:26:03 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. (Wed, 17 Dec 2008 22:43:07 GMT)
Mortgage applications climb 2.9%
WASHINGTON (AP) - Borrowers taking advantage of lower rates to refinance home loans sent mortgage application volume higher last week. The Mortgage Bankers Association says its application index rose 2.9% -- to 841.4 from a revised 817.7 a week earlier. (Wed, 17 Dec 2008 23:28:39 GMT)
A refinancing rush as interest rates come down
-- Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. (Thu, 18 Dec 2008 00:16:02 GMT)
Fed says it will buy $600 billion in mortgage-related assets
WASHINGTON (AP)—The Federal Reserve says it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the financial crisis. The Fed says it will purchase up to $100 billion in direct obligations from mortgage giants Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks. It also will purchase another $500 billion in mortgage-backed securities, pools of ... (Thu, 18 Dec 2008 01:04:23 GMT)
Ed McMahon’s Mortgage Sold, Ending Foreclosure Risk (Update1)
Dec. 17 (Bloomberg) -- Ed McMahon ’s mortgage was bought by a Foreclosure Trackers Inc. investor, ending the risk the former “Tonight Show” sidekick would be foreclosed on, and allowing him to keep living in his estate near Beverly Hills, California. (Thu, 18 Dec 2008 01:24:05 GMT)
Ed McMahon’s Mortgage Sold, Ending Foreclosure Risk (Update2)
Dec. 17 (Bloomberg) -- Ed McMahon ’s mortgage was bought by an investor, ending the foreclosure risk for the former “Tonight Show” sidekick and allowing him to keep living in the estate near Beverly Hills, California. (Thu, 18 Dec 2008 02:09:06 GMT)
Mortgage Rates Continue To Fall, UBS Says
(RTTNews) - According to the weekly Mortgage Bankers' Association survey, fixed mortgage rates fell again in the week ended Dec 12, note the analysts at UBS. Fifteen-year fixed rates fell 16 bps to 4.93 percent after falling a cumulative 69 bps in the previous two weeks, and 30-year rates dropped 26bps to 5.18 percent after -54bps in the previous two weeks. (Thu, 18 Dec 2008 03:07:49 GMT)
A refinancing rush as interest rates come down
Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. (Thu, 18 Dec 2008 04:56:39 GMT)
A refinancing rush as interest rates come down
Mortgage brokers reported a surge of calls from borrowers seeking to take advantage of the Fed's extraordinary decision. Some brokers were quoting mortgage rates of close to 4.5 percent for people with strong credit and hefty down payments. (Thu, 18 Dec 2008 05:01:55 GMT)
IDBI shortlists 7 buyers for home loan subsidiary
Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. (Thu, 18 Dec 2008 05:13:58 GMT)
Mortgage refinancing soars as interest rates dive
Mortgage rates are falling fast, and Americans are rushing to refinance their home loans, according to the Mortgage Bankers Association. (Thu, 18 Dec 2008 05:40:16 GMT)
What lower mortgage rates mean to you
The Federal Reserve's efforts to fight the financial crisis are bringing down interest rates, setting the stage for more homeowners to consider refinancing their mortgages and putting some money back in their pockets. Here are answers to common questions about mortgage rates. (Thu, 18 Dec 2008 05:57:57 GMT)
Lower rates spark refinancing mortgage boom
Dave Anderson recently called his mortgage broker and said to keep in touch as rates inch downward. (Thu, 18 Dec 2008 07:18:31 GMT)
Key-rate cut sparks rush to refinance
Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. (Thu, 18 Dec 2008 07:28:00 GMT)
Mortgage applications climb 2.9%
Mortgage application volume jumped last week, fueled by borrowers seizing on lower rates to refinance home loans, the Mortgage Bankers Association said Wednesday. (Thu, 18 Dec 2008 08:12:00 GMT)
Drop in mortgage rates spurs refinancing
Mortgage rates have fallen significantly in the last couple of days, spurring more refinancing at fixed rates. Mortgage firms said rates were hovering below 5% Wednesday after the Federal Reserve said Tuesday it will back mortgage-related bonds. (Thu, 18 Dec 2008 08:29:02 GMT)
Americans refinance as rates fall below 5 percent
CHARLOTTE - Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. Within hours, he had locked in a rate of about 4.6 percent. He'll save about $160 on his monthly payment. ... (Thu, 18 Dec 2008 09:41:49 GMT)
Fed move may prompt mortgage refinancing
Dramatic actions by the Federal Reserve Bank to slash interest rates to nearly zero and pump money into mortgages have set the table for a wave of mortgage refinancing that could save money for millions of homeowners and be a boon for banks. (Thu, 18 Dec 2008 09:41:54 GMT)
Mortgage arrears 'to hit 500,000'
Mortgage lenders predict the recession will lead to a huge rise in arrears among their borrowers in 2009. (Thu, 18 Dec 2008 10:13:00 GMT)
Mortgage Rates Left in Dust by Treasury Yields, Failed Lenders
While the average rate on a fixed 30-year mortgage fell to 5.18 percent last week from 6.47 percent in October, according to Mortgage Bankers Association data, the historical relationship between home loans and mortgage bonds shows rates should be at least half a percentage point lower. (Thu, 18 Dec 2008 10:40:17 GMT)
Big Plunge In Mortgage Lending
Mortgage lending fell more sharply than expected last month, diving 22% from October to November, latest figures show. (Thu, 18 Dec 2008 10:46:00 GMT)
Homeowners lock in low mortgage rates
Mortgage brokers reported a surge of calls from borrowers seeking to take advantage of extraordinarily low rates. Some brokers were quoting mortgage rates of close to 4.5 percent. (Thu, 18 Dec 2008 11:02:55 GMT)
Mortgage lending plummets
Mortgage lending plunged to a new low last month as lenders predict the number of homeowners in arrears for over three months could hit half a million in 2009. (Thu, 18 Dec 2008 11:23:00 GMT)
UK Gross Mortgage Lending Drops In November
(RTTNews) - Thursday, UK's Council of Mortgage Lenders' or CML said gross mortgage lending dropped 22% month-on-month to an estimated GBP14.6 billion in November. From the previous year, it was a decline of 51%. (Thu, 18 Dec 2008 12:14:03 GMT)
Borrowers rushing to refinance loans as rates drop
Homeowners around the country are scrambling to refinance their mortgages at the lowest rates since the early 1960s as the economy staggers through what's likely to be the worst recession in decades. (Thu, 18 Dec 2008 12:45:13 GMT)
IDBI shortlists 7 buyers for home loan subsidiary
Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. (Thu, 18 Dec 2008 12:59:09 GMT)
Mortgage rates spur torrent of refinances
(By Alan Zibel, Associated Press) Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5percent. Within hours, he had locked in a rate of about 4.6percent. He'll save about $160 on his monthly ... (Thu, 18 Dec 2008 13:03:03 GMT)
Mortgage rates spur torrent of refinances
(By Alan Zibel, Associated Press) Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5percent. Within hours, he had locked in a rate of about 4.6percent. He'll save about $160 on his monthly ... (Thu, 18 Dec 2008 13:05:59 GMT)
What the Mortgage Bailout Means For You
On Dec. 6, Treasury Secretary Henry Paulson, with the support of President George W. Bush, unveiled a plan to aid certain homeowners who face the prospect of higher mortgage rates in the next few years. Paulson worked with banks and other mortgage companies to develop the initiative, and thanked them for their involvement. "We have worked through an evolving process to help minimize the impact ... (Thu, 18 Dec 2008 13:08:44 GMT)
Rush to refinance as mortgage rates drop
Homeowners around the country are scrambling to refinance their mortgages at the lowest rates since the early 1960s as the economy staggers through what's likely to be the worst recession in decades. (Thu, 18 Dec 2008 14:04:18 GMT)
Mortgage rates at 37-year low: average 5.19% for 30 years
Rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market to spur home sales and refinancings. (Thu, 18 Dec 2008 15:58:59 GMT)
Hilltop Community Bank becomes member of Federal Home Loan Bank
WELCOME TO THE FED -- Hilltop Community Bank with offices in Summit, New Providence, Berkeley Heights and Madison, recently became a member and shareholder in the Federal Home Loan Bank, which will enhance Hilltop's ability to make loans in its... (Thu, 18 Dec 2008 16:04:25 GMT)
Big rush here for home refinancing
For homeowners, refinancing a mortgage with historically low interest rates can be an easy way to put some extra money in their pockets.And with some rates dipping below 5 percent in recent days, many people are jumping at the chance."We've gotten just bombarded with calls to all of our loan off... (Thu, 18 Dec 2008 16:10:19 GMT)
Mortgage rates fall to 37-year low
Mortgage rates fell this week, with the 30-year fixed mortgage sinking to its lowest rate in 37 years as the Federal Reserve cut interest rates to historic lows. (Thu, 18 Dec 2008 16:20:28 GMT)
Freddie Mac says mortgage rates at 37-year low, spurring historic refinancing opportunity
WASHINGTON - Rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market. (Thu, 18 Dec 2008 16:31:56 GMT)
Mortgage rates at 37-year low
WASHINGTON -- Rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market. (Thu, 18 Dec 2008 17:32:50 GMT)
Mortgage tips amidst down economy
Amidst all the dismal economic news these days, we have what might be a bright spot for your future. Thursday morning on 2une In we discussed whether it's time to refinance your home or get mortgage payment insurance. (Thu, 18 Dec 2008 17:53:46 GMT)
Mortgage Rates Left in Dust by Treasuries, Failures (Update3)
While the average rate on a fixed 30-year mortgage fell to 5.18 percent last week from 6.47 percent in October, according to Mortgage Bankers Association data, the historical relationship between home loans and mortgage bonds shows rates should be at least half a percentage point lower. (Thu, 18 Dec 2008 18:03:01 GMT)
Watch Out For "Junk" Mortgage Fees
So many fees are tacked on to a mortgage, that its easy to pay more than you have to. (Thu, 18 Dec 2008 18:17:12 GMT)
PC holds out hope of cut in home loan floating rates
COMMENT ON THIS ! Your Views! There may be good news in the offing for those bothered by high floating home loan rates. (Thu, 18 Dec 2008 18:40:06 GMT)
IDBI shortlists 7 buyers for home loan subsidiary
Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. (Thu, 18 Dec 2008 18:43:42 GMT)
IDBI shortlists 7 buyers for home loan subsidiary
Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. (Thu, 18 Dec 2008 18:58:21 GMT)
Fed’s deep rate cuts encouraging mortgage refinancing applications
Tony Jabon had sent an e-mail to his mortgage broker by 10 a.m. Wednesday. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve’s decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. (Thu, 18 Dec 2008 19:00:43 GMT)
Homeowners rush to refinance
Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. (Thu, 18 Dec 2008 19:00:49 GMT)
Buy Subprime-Mortgage Bonds on Government Action, JPMorgan Says
Dec. 18 (Bloomberg) -- Investors should buy originally top- rated subprime-mortgage bonds because the government is lowering borrowing rates and taking other steps that will end home-price declines next year, a JPMorgan Chase & Co. analyst said. (Thu, 18 Dec 2008 19:10:16 GMT)
Mortgage rates fall; Unemployment data still weak
Mortgage rates are falling as this week's dramatic action by the Federal Reserve provides a boost to the dismal housing market, but the nation's unemployment rolls are stuck at historically high levels amid a deepening recession. (Thu, 18 Dec 2008 19:26:45 GMT)
IDBI shortlists 7 buyers for home loan subsidiary
Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. (Thu, 18 Dec 2008 19:29:38 GMT)
Walking away from a mortgage no longer unthinkable
Diane Shackle found it gut-wrenching to walk away from a mortgage she took out in times that were better for both her and the U.S. economy. (Thu, 18 Dec 2008 20:42:57 GMT)
Mortgage refis wanted but tough to come by
With mortgage rates plunging, lenders are providing last-minute holiday shoppers with the chance at an unexpected stocking-stuffer: refinance applications. (Thu, 18 Dec 2008 20:44:31 GMT)
Mortgage Rates at 37-Year Low
The Federal Reserve's rate cut this week had an impact on mortgage rates, dropping them to levels not seen in over three decades. (Thu, 18 Dec 2008 21:06:17 GMT)
Banks told to help old home loan borrowers
New Delhi, Dec. 18: The Centre today said it was talking to banks to ensure that existing borrowers also benefited from the home loan relief package announced this week. (Thu, 18 Dec 2008 21:25:29 GMT)
Mortgage Rates Left in Dust by Treasuries, Failures (Update4)
While the average rate on a fixed 30-year mortgage fell to 5.18 percent last week from 6.47 percent in October, according to Mortgage Bankers Association data, the historical relationship between home loans and mortgage bonds shows rates should be at least half a percentage point lower. (Thu, 18 Dec 2008 22:15:08 GMT)
Mortgage rates fall for seventh week
WASHINGTON, Dec. 18 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell for the seventh straight week, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 18 Dec 2008 22:19:20 GMT)
Meltdown 101: Is it time to refinance a mortgage?
With mortgage rates sinking to the lowest level since the early 1960s, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments. (Thu, 18 Dec 2008 22:36:47 GMT)
Walking away from a mortgage no longer unthinkable
CHICAGO -- Diane Shackle found it gut-wrenching to walk away from a mortgage she took out in times that were better for both her and the U.S. economy. (Thu, 18 Dec 2008 22:50:56 GMT)
Borrowers rushing to refinance loans as rates drop
WASHINGTON -- Homeowners around the country are scrambling to refinance their mortgages at the lowest rates since the early 1960s as the economy staggers through what's likely to be the worst recession in decades. Mortgage brokers are already reporting a surge of calls from borrowers trying to take advantage of the Federal Reserve's extraordinary actions this week. Meanwhile, President-elect ... (Thu, 18 Dec 2008 23:54:20 GMT)
Americans saving money by refinancing their mortgages
Refinancing your mortgage may save you money after the Federal Reserve dropped interest rates this week to a historic low. (Fri, 19 Dec 2008 00:16:53 GMT)
Foreclosure Prevention Fraud Worries Home Experts
Yusuf Salaam thought everything would be fine when he signed a renegotiated home loan agreement with his mortgage lender, American Servicing Company (ASC). (Fri, 19 Dec 2008 00:50:14 GMT)
As Becks heads to AC and Finnan goes to Spurs here's Sportsmail's guide to the 10 best loan signings
As David Beckham prepares to join AC Milan for one of the most high-profile loan signings in football history, Sportsmail looks at some of the players who have made an impact playing away from home. (Fri, 19 Dec 2008 00:52:20 GMT)
Fiserv Enhances Home Retention Solutions to Help Banks Automate Loan Workout Process
Enhancements support new streamlined government loan modification program. (Fri, 19 Dec 2008 04:00:02 GMT)
Fiserv Enhances Home Retention Solutions to Help Banks Automate Loan Workout Process
Enhancements support new streamlined government loan modification program. (Fri, 19 Dec 2008 04:03:13 GMT)
Only state-run banks have so far cut home loan rates after the Reserve Bank slashed key lending rates by 250 basis ...
The government will ensure that banks lower home loan rates for even existing borrowers while paring rates for new borrowers, home minister P Chidambaram said in Parliament on Thursday. (Fri, 19 Dec 2008 04:04:04 GMT)
As mortgage rates drop, experts advise close look at options
Mortgage rates are the lowest level since the '60s. (Fri, 19 Dec 2008 04:58:10 GMT)
Rates are low — is it time to refinance a mortgage?
With mortgage rates sinking to the lowest level in decades, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments. Should you be doing the same? (Fri, 19 Dec 2008 06:09:45 GMT)
Mortgage rates hit 37-year low; refinancing boom seen
Published: Dec 19, 2008 - Page: 1A - UPDATED: 12:05 a.m. Rates on 30-year fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market. (Fri, 19 Dec 2008 06:24:26 GMT)
Fed’s deep rate cuts encouraging mortgage refinancing applications
Tony Jabon had sent an e-mail to his mortgage broker by 10 a.m. Wednesday. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve’s decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. (Fri, 19 Dec 2008 06:44:26 GMT)
Refinancing brisk business / Industry having trouble keeping up with demand
OGDEN -- Mortgage rates are at or near record lows, prompting a rush of refinancing and other activity that has Utah brokers scrambling to keep up with demand. (Fri, 19 Dec 2008 07:11:44 GMT)
Mortgage rates fall but could be lower
Americans seeking mortgages aren't getting the full benefit of record-low yields on Treasurys and government-supported mortgage bonds, blunting U.S. efforts to curb the housing crisis. (Fri, 19 Dec 2008 07:38:07 GMT)
Mortgage refinancing soars
People are taking advantage of falling interest rates by refinancing their homes, according to mortgage officials. The Mortgage Bankers Association's seasonally adjusted application index rose 2.9 percent to 841.4 in the week ended Dec 12. Refinance volume rose 6.5 percent last week, while the purchase volume fell 4.5 percent. Those numbers track the total value of outstanding mortgages. (Fri, 19 Dec 2008 08:08:51 GMT)
Is it time to refinance a mortgage?
Meltdown 101: Is it time to refinance a mortgage? WASHINGTON -- With mortgage rates sinking to the lowest level since the early 1960s, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments. (Fri, 19 Dec 2008 08:15:45 GMT)
Mortgage rates at 37-year low
WASHINGTON---- Rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market. (Fri, 19 Dec 2008 10:08:02 GMT)
Mortgage woes causing some to walk away
You know the financial outlook is glum when the mortgage brokers who arrange loans have quit paying their own debts. (Fri, 19 Dec 2008 10:17:50 GMT)
Early mortgage payment could cut tax bill
Make your January mortgage payment by Dec. 31 and you'll have extra interest to deduct on your upcoming tax return. (Fri, 19 Dec 2008 11:00:00 GMT)
Head of firm pleads guilty in mortgage fraud
The head of a Lanham company that promised to help people facing foreclosure but instead used their homes to steal millions of dollars through a series of complicated mortgage fraud schemes pleaded guilty yesterday in U.S. District Court in Greenbelt to conspiracy to commit mail and wire fraud. Jennifer McCall, the 47-year-old chief executive of Metropolitan Money Store Corp. is the fifth of ... (Fri, 19 Dec 2008 11:48:01 GMT)
Loan Modification with Money Back Guarantee offered to Arizona Homeowners by LoanModificationAZ.com
PHOENIX----LoanModificationAZ.com is providing immediate help to Arizona home owners in hardship situations by stopping the foreclosure process through an array of modification options: Loan Modifications or Loan Restructuring Repayment Plan Reinstatement Short Sale Deed-in-lieu of Foreclosure Loan Forbearance (Fri, 19 Dec 2008 12:36:00 GMT)
Mortgage Rates at 40-Year Low
People at the Lenders Network, which specializes in home mortgage loans and refinancing, say that their phones have been ringing off the hook because mortgage rates are the lowest they've been in 40 years. (Provided by News 13) (Fri, 19 Dec 2008 13:38:33 GMT)
Meltdown 101: Is it time to refinance a mortgage?
With mortgage rates sinking to the lowest level since the early 1960s, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments. (Fri, 19 Dec 2008 14:43:45 GMT)
Federal Home Loan Bank of Indianapolis Announces $4.8 Million in Affordable Housing Grants
INDIANAPOLIS, Dec. 19, 2008 -- Milton J. Miller, President & CEO of the Federal Home Loan Bank of Indianapolis , has announced second round grants totaling $4.8 million under its Affordable Housing Program . (Fri, 19 Dec 2008 15:02:48 GMT)
Mortgage Rates Fall, Homeowners Look At ReFi
Mortgage rates are falling as this week's dramatic action by the Federal Reserve provides a boost to the dismal housing market. Brokers in the Denver area told CBS4 they've been flooded with calls as people inquire about refinancing. (Fri, 19 Dec 2008 15:20:58 GMT)
Housing Development Cuts Home Loan, Deposit Rates (Update1)
Dec. 19 (Bloomberg) -- Housing Development Finance Corp ., India’s biggest home mortgage provider, lowered the rate it charges for all loans and deposits by 50 basis points. (Fri, 19 Dec 2008 15:46:07 GMT)
Record low mortgage rates toss housing market a lifeline
With the $500 of monthly savings Jim Hennessy just gained by cutting the rate on his $417,000 mortgage in San Diego, he plans on rebuilding his beaten-up retirement savings and maybe even taking a cruise. (Fri, 19 Dec 2008 15:59:12 GMT)
Meltdown 101: Is It Time To Refinance A Mortgage?
Meltdown 101: Is It Time To Refinance A Mortgage? With mortgage rates sinking to the lowest level since the early 1960s, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments. (Fri, 19 Dec 2008 16:00:09 GMT)
Mortgage rates fall to 37-year low
Thirty-year fixed-rate mortgages interest rates fell to their lowest level on record, according to Freddie Mac’s Primary Mortgage Market survey released Thursday. (FRE) (Fri, 19 Dec 2008 16:43:13 GMT)
Record low mortgage rates toss housing a lifeline
With the $500 of monthly savings Jim Hennessy of San Diego gained by cutting the rate on his $417,000 mortgage, he plans to rebuild his beaten-up retirement account and maybe even take a cruise. (Fri, 19 Dec 2008 17:09:36 GMT)
PRESS RELEASE: Fitch Cuts EMF UK 08-1, Mortgage Funding 08-1
Fitch Ratings-London-19 December 2008: Fitch Ratings has downgraded four tranches of EMF-UK 2008-1 Plc and Mortgage Funding 2008-1 plc. The transactions have exposure to currency swaps previously provided by Lehman Brothers. (Fri, 19 Dec 2008 17:37:32 GMT)
Rush To Refinance -- Or Hold Off?
An expert offered his views, in light of plummeting mortgage rates, on The Early Show. (Fri, 19 Dec 2008 20:00:02 GMT)
Man indicted in mortgage fraud case
A federal grand jury has indicted a Draper man accused of mortgage fraud in a $1 million home purchase. (Fri, 19 Dec 2008 20:12:00 GMT)
ICICI holds out hope for old home loans
Mumbai, Dec. 19: Existing home loan borrowers of ICICI Bank can look forward to reduced EMIs in the days ahead, according to Chanda Kochhar who has been anointed as the successor to chief executive officer K.V. Kamath. (Fri, 19 Dec 2008 20:46:52 GMT)
Investors say proposed OneCap Mortgage settlement won't solve problems
About 45 investors, speaking by phone and in person at the Sawyer Building, today complained that a settlement proposed by troubled OneCap Mortgage and Mortgage Lending Commissioner Joe Waltuch will not solve their problems with the $400 million-asset hard-money lender. (Fri, 19 Dec 2008 21:31:20 GMT)
Homeowners Rush to Refinance
Mortgage interest rates have dipped to historic lows and hundreds of Vermonters are now looking to refinance. (Fri, 19 Dec 2008 23:35:00 GMT)
Record low mortgage rates toss housing a lifeline
With the $500 of monthly savings Jim Hennessy of San Diego gained by cutting the rate on his $417,000 mortgage, he plans to rebuild his beaten-up retirement account and maybe even take a cruise. (Fri, 19 Dec 2008 23:44:27 GMT)
Mortgage Rates At 40 Year Low
If you're thinking about buying a house or refinancing, now could be the best time to do it. Nationwide mortgage rates have hit a 40-year low dropping below five percent. (Sat, 20 Dec 2008 00:11:23 GMT)
Low Mortgage Rates May Mean Good Time To Refinance
If the interest rate on your current home mortgage is above 6.00 percent then you might be able to save thousands of dollars by refinancing your mortgage. That's because we are hitting record lows in home mortgage interest rates. (Sat, 20 Dec 2008 00:36:59 GMT)
Get Mortgage Relief at the Yellow Light Rather Than Red
Here's some good news for homeowners facing tough financial times: You no longer have to miss two to three months of payments before your mortgage company can modify the loan terms you can no longer afford. (Sat, 20 Dec 2008 01:22:31 GMT)
Falling mortgage rates have homeowners wondering about whether to refinance
With mortgage rates sinking, homeowners around the country are pondering an early holiday present: a refinanced mortgage with lower monthly payments. (Sat, 20 Dec 2008 04:26:44 GMT)
Low interest rates spur local mortgage refinancing rush
Mortgage bankers are slammed, as people seek to lock into 30-year conventional fixed-rate mortgage loans with interest rates at 5 percent or less. In recent years, the interest rate on such fixed-rate loans has hovered at about 6 percent. (Sat, 20 Dec 2008 05:03:19 GMT)
Oklahoma borrowers turn to home equity
More Oklahomans are tapping their homes for a home-equity line of credit, according to new Census Bureau estimates. The number of Oklahoma homeowners with a home-equity loan rose by one-third since 2000, according to an analysis of U.S. Census Bureau data by The Oklahoman.More than 49,900 of the estimated 947,000 homeowners in Oklahoma had a home-equity loan from 2005 to 2007. The data comes ... (Sat, 20 Dec 2008 06:00:31 GMT)
Fed’s deep rate cuts encouraging mortgage refinancing applications
Tony Jabon had sent an e-mail to his mortgage broker by 10 a.m. Wednesday. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve’s decision to cut its key interest rate to nearly zero and wanted to refinance to something lower than 5.5 percent. (Sat, 20 Dec 2008 06:44:13 GMT)
Delray Beach mortgage broker sentenced for wire fraud
A Delray Beach mortgage broker was sentenced Friday to two years and nine months in prison for his part in a wire-fraud operation that misappropriated more than $1.2 million from clients, according to the U.S. Attorney's Office. (Sat, 20 Dec 2008 08:12:41 GMT)
Walking away from a mortgage no longer unthinkable for many
CHICAGO — Diane Shackle found it gut-wrenching to walk away from a mortgage she took out in times that were better for both her and the U.S. economy. (Sat, 20 Dec 2008 08:14:17 GMT)
Low interest rates drive a new round of mortgage refinancing
Stable homeowners are behind the demand, but the trend isn't likely to boost the housing market. The phones are ringing off the hook again at home lenders' offices, thanks to the lowest interest rates since the early 1960s. But analysts say it won't do much to lift the depressed housing market. (Sat, 20 Dec 2008 08:33:53 GMT)
Woman gets 10-year term in $2.7M mortgage scam
A 50-year-old woman who aided her boyfriend in a $2.7 million mortgage scam so they could enjoy homes, luxury cars and boats was sentenced Friday to 10 years in state prison despite her claims of being influenced and abused by the ex-beau. (Sat, 20 Dec 2008 09:15:42 GMT)
Thrift store celebrates by roasting its mortgage papers
Dorothy Tapajna felt good the moment she saw the mortgage for her St. Vincent de Paul store go up in flames. It took about nine years to pay off the $95,000 owed on the society's operation at 696 King St. E. The funds were raised through store surpluses and donations. (Sat, 20 Dec 2008 09:49:43 GMT)
Should I refinance interest-only loan?
Should you refinance an interest-only loan? Dr. Don Taylor says finding the answer may be tricky. (Sat, 20 Dec 2008 11:00:00 GMT)
Borrowers look for mortgage modification
defined as 38 percent of the borrower's monthly gross income. Contact: Call the telephone number on your mortgage statement. Call (800) 848-9136. Call (866) 550-5705. (Sat, 20 Dec 2008 11:53:25 GMT)
LICHF slashes home loan rates
Close on the heels of public sector banks slashing their home loan rates, LIC Housing Finance, has announced a 1.75-2.25 per cent cut in its lending rates for home loans up to to Rs 20 lakh (Rs 2 million) from December 17. (Sat, 20 Dec 2008 12:26:50 GMT)
Woman gets 10-year term in $2.7M mortgage scam
A 50-year-old woman who aided her boyfriend in a $2.7 million mortgage scam so they could enjoy homes, luxury cars and boats was sentenced Friday to 10 years in state prison despite her claims of being influenced and abused by the ex-beau. (Sat, 20 Dec 2008 13:29:13 GMT)
Meltdown 101: Is it time to refinance a mortgage?
(By ALAN ZIBEL, AP Real Estate Writer) With mortgage rates sinking to the lowest level since the early 1960s, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments. Should you be doing the same? The depends mainly on what rate you have now and whether you're planning to move anytime soon. Experts advise taking a careful ... (Sat, 20 Dec 2008 13:33:03 GMT)
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