Mortgage News Jan 2009

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Dewan Housing cuts home loan rates
CHENNAI: Dewan Housing Finance Corporation has announced a reduction in interest rates for both its new and existing customers. According to a release, the company will now offer home loans starting at 9.75 per cent variable interest rate for ... (Fri, 09 Jan 2009 22:02:55 GMT)

Should you Refinance Your Mortgage?
Interest rates have hit a 40-year low and many people have found they can save hundreds of dollars a month by refinancing. Antoinette Morgan knew now was the perfect time to trade in her old home loan. (Fri, 09 Jan 2009 22:40:25 GMT)

People Line Up To Refinance, Save Money
Mortgage rates are heading to historic lows. Some are offering a 4.5 percent rate on a 30-year loan. The rates dropped again and mortgage companies are getting real busy as people seek to refinance and save money. (Fri, 09 Jan 2009 22:53:43 GMT)

Industry rips Citigroup mortgage deal
A top bank industry group said it opposes an agreement between Citigroup and Democratic senators that would change bankruptcy law to help troubled mortgage borrowers avoid foreclosure. (Fri, 09 Jan 2009 23:05:14 GMT)

Lehman subprime mortgage unit files bankruptcy
NEW YORK, Jan 9 (Reuters) - BNC Mortgage LLC, a subprime mortgage unit of Lehman Brothers Holdings Inc , filed for bankruptcy protection on Friday, and like its parent plans to wind down operations. (Fri, 09 Jan 2009 23:12:59 GMT)

Many Tennesseans save big by refinancing their mortgages
30-year fixed mortgage rates are below 5%, the lowest in decades, and many are taking advantage. (Fri, 09 Jan 2009 23:35:36 GMT)

Bank industry slams lawmaker-Citi mortgage deal
WASHINGTON/NEW YORK (Reuters) - A top bank industry group said on Friday that it opposes an agreement between Citigroup Inc and Democratic senators that would rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, saying it could make home loans more expensive. (Sat, 10 Jan 2009 00:33:20 GMT)

With Home Loan Market in Flux, Paying Points Is Golden For Many
Current stresses in the home loan market have changed the ground rules for borrowers in many ways. (Sat, 10 Jan 2009 00:35:01 GMT)

Kenneth Harney on New Appraisal Standards
When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less than the $300 to $600 you're charged, perhaps half? (Sat, 10 Jan 2009 00:35:31 GMT)

Credit Score Important When Refinancing Mortgage
Though the Pittsburgh housing market has not experienced the major burst in the housing bubble unlike other parts of the country, Pittsburgh homeowners still struggle with mortgage refinancing. (Sat, 10 Jan 2009 03:59:35 GMT)

Boon to borrowers: Mortgage rates fall to 5 percent
The Federal Reserve’s plan to coax mortgage rates lower is working: rates on 30-year fixed loans fell for the 10th consecutive week to the lowest levels in decades, according to a recent Freddie Mac survey. What is not clear, however, is whether rates are attractive enough to lure a significant number of home buyers back into the ailing housing market. Interest rates on conforming mortgages ... (Sat, 10 Jan 2009 05:16:09 GMT)

Lessons Learned: Mortgage refi paid off
“He that can have patience can have what he will.” — Benjamin Franklin A salute to readers who called mortgage brokers, then took advantage of the bargain residential loan rates mentioned in my mid-December column. (Sat, 10 Jan 2009 06:34:17 GMT)

Will Loan Limits Rise?
If you?re in the market for a new home, especially in an area where housing prices are typically high, it might make sense to wait a few weeks. (Sat, 10 Jan 2009 07:11:19 GMT)

Woman gets probation in mortgage fraud scheme
LaDonna Mullins, 74, of Denver, was sentenced by U.S. District Judge Marcia S. Krieger on Friday to three years of probation for her part in a complex mortgage fraud scheme. (Sat, 10 Jan 2009 07:11:29 GMT)

Refinancing shoots through the roof
Prices for everything seem to be going up, but one bright spot has emerged for homeowners. “With the rates at the current levels there have been a big increase in refinancing,” said Edward J Stankunas, a certified mortgage banker with Prime Lending in Plano. (Sat, 10 Jan 2009 07:28:29 GMT)

Lower Rates Likely for Jumbo Mortgage Loans
Mortgage borrowers in the Washington area and a few other pricey markets may soon be able to tap into cheaper interest rates if they're taking out loans of up to $729,250. (Sat, 10 Jan 2009 07:52:41 GMT)

Thinking refi? Look into it now, experts advise
Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in the lowest rates in decades. (Sat, 10 Jan 2009 10:07:12 GMT)

Stirling Albion get Dundee Midfielder on loan
STIRLING Albion boss Allan Moore has secured the loan signing of Dundee United midfielder Ryan McCord until February 3. The flame-haired 19-year-old could make his debut in the home clash tomorrow (Saturday) with leaders Raith Rovers. (Sat, 10 Jan 2009 13:44:24 GMT)

Mortgage crisis spurs tougher rules for brokers
INDIANAPOLIS — Becoming a mortgage broker in Indiana used to be easy. Too easy. There were no background checks to weed out people convicted of financial crimes, no tests to see whether brokers actually took required classes and understood the complex mortgage world. (Sat, 10 Jan 2009 14:12:21 GMT)

Daddy?s Home, and a Bit Lost
As the economy shifts, couples cope with the loss of a Wall Street salary and the fact that dad is suddenly home a lot. (Sat, 10 Jan 2009 17:20:21 GMT)

Home builders seek action on incentives
North Carolina home builders have joined a nationwide call for quick congressional action on a plan designed to stimulate housing sales by offering home buyers new tax and loan incentives. (Sat, 10 Jan 2009 20:00:32 GMT)

How mortgage and savings providers are reacting to the base rate cut
This month's 0.5 percentage point cut in the Bank of England base rate brings interest rates to their lowest level in history, but the cost of mortgages may not necessarily fall in line with it. Here's a round-up of what lenders have said so far about mortgage rates. We will be updating it over the comings days. Halifax is to cut its standard variable rate (SVR) by 0.25%, to 4.50% with ... (Sun, 11 Jan 2009 00:13:30 GMT)

Credit Score Important When Refinancing Mortgage
Though the Pittsburgh housing market has not experienced the major burst in the housing bubble unlike other parts of the country, Pittsburgh homeowners still struggle with mortgage refinancing. (Sun, 11 Jan 2009 01:44:12 GMT)

Credit Score Important When Refinancing Mortgage
Though the Pittsburgh housing market has not experienced the major burst in the housing bubble unlike other parts of the country, Pittsburgh homeowners still struggle with mortgage refinancing. (Sun, 11 Jan 2009 01:44:12 GMT)

Credit Score Important When Refinancing Mortgage
Though the Pittsburgh housing market has not experienced the major burst in the housing bubble unlike other parts of the country, Pittsburgh homeowners still struggle with mortgage refinancing. (Sun, 11 Jan 2009 01:44:12 GMT)

Credit Score Important When Refinancing Mortgage
Though the Pittsburgh housing market has not experienced the major burst in the housing bubble unlike other parts of the country, Pittsburgh homeowners still struggle with mortgage refinancing. (Sun, 11 Jan 2009 01:44:12 GMT)

Credit Score Important When Refinancing Mortgage
Though the Pittsburgh housing market has not experienced the major burst in the housing bubble unlike other parts of the country, Pittsburgh homeowners still struggle with mortgage refinancing. (Sun, 11 Jan 2009 01:44:12 GMT)

Home equity tapped out? Here are income options for seniors
Possibilities include downsizing your home, selling assets, working longer and taking out a reverse mortgage. Each has its challenges and risks. The safety net is almost gone, the nest egg is cracking. (Sun, 11 Jan 2009 02:14:41 GMT)

Brazil, Ecuador resolve dispute over loan payments
Ecuador has paid Brazil back payments on a loan for the construction of a controversial hydroelectric project, apparently ending a diplomatic dispute that lasted months. (Sun, 11 Jan 2009 02:58:51 GMT)

Ecuador pays Brazil back payments on controversial loan; Brazil ambassador returning to Quito
SAO PAULO, Brazil - Ecuador has quietly made overdue payments to Brazil on a loan for the construction of a controversial hydroelectric project, possibly ending a monthslong diplomatic dispute, Brazil's foreign ministry said Saturday. (Sun, 11 Jan 2009 03:15:58 GMT)

Falling values devour equity
Enticed by the lowest mortgage rates in decades, many Inland Southern California homeowners are eager to refinance to lower their monthly house payments. (Sun, 11 Jan 2009 04:29:49 GMT)

Good, bad news surrounds refinancing
For those of you thinking of refinancing a home, there's good news and bad news. (Sun, 11 Jan 2009 05:14:40 GMT)

Refinancing popular as mortgage rates fall, but experts urge caution
There isn't much good news in this battered economy, but the recession is bringing a welcome break to some homeowners. Interest rates have dropped to historic lows, and many are taking advantage of this by refinancing their mortgages. (Sun, 11 Jan 2009 05:48:20 GMT)

Ways to Wealth: Reverse mortgage can be a relief, but read the small print
Cathy and Alan: We have had our house for sale for more than seven months without any offers. We are downsizing and are wondering about using a reverse mortgage to fund our smaller house. Do you have any thoughts on this? (Sun, 11 Jan 2009 06:10:17 GMT)

Lessons Learned: Mortgage refi paid off
“He that can have patience can have what he will.” — Benjamin Franklin A salute to readers who called mortgage brokers, then took advantage of the bargain residential loan rates mentioned in my mid-December column. (Sun, 11 Jan 2009 06:35:07 GMT)

Refinancing a 'no-brainer'
SIOUX CITY -- Looking to free up cash by refinancing their homes at the lowest rates in a generation, tri-state homeowners have flooded area lender offices in recent weeks. (Sun, 11 Jan 2009 06:40:06 GMT)

Refinancing shoots through the roof
Prices for everything seem to be going up, but one bright spot has emerged for homeowners. “With the rates at the current levels there have been a big increase in refinancing,” said Edward J Stankunas, a certified mortgage banker with Prime Lending in Plano. (Sun, 11 Jan 2009 07:28:29 GMT)

McKinney mortgage scam goes federal
An unsealed indictment reveals Brent Timothy Baird will face federal charges for allegedly scamming investors and homeowners on the brink of collapse in a mortgage fraud scheme. (Sun, 11 Jan 2009 07:29:22 GMT)

FHA raises insurable mortgage ceiling
The maximum mortgage amounts that can be insured by the Federal Housing Administration are rising as of 2009, the U.S. Department of Housing and Urban Development said. (Sun, 11 Jan 2009 07:38:14 GMT)

Paying Down Mortgage Faster Only Makes Sense Sometimes
With the markets so dicey, many people who come into extra cash wonder whether they should avoid stocks and bonds and use the money to pay down their mortgage instead. (Sun, 11 Jan 2009 07:53:01 GMT)

Homeowners refinance at lower mortgage rates
Tim McManus, a homeowner in Sacramento's Pocket area, has a first mortgage at 6 percent and a second at 7.75 percent. He has been watching as rates decline and hopes he'll be able to refinance at 4.5 percent. When state employee Tim McManus of Sacramento peers into the future, he sees 4.5 percent interest. "I'm hoping it will go down more. One more drop," says the Pocket homeowner ... (Sun, 11 Jan 2009 08:05:34 GMT)

Refinancing primer
Thirty-year fixed mortgage rates have fallen to 5 percent and below, prompting interest from homeowners in refinancing. For those in the right situation, refinancing can offer substantial long-term savings. But not everyone is eligible or will benefit. • Don't bother if it doesn't lower your current interest rate by at least one percentage point. • Don't bother if you want to refinance ... (Sun, 11 Jan 2009 08:05:44 GMT)

Fudging on income can hinder refinance
Question: We run our own business and even though we have pretty good cash flow to pay our bills, our income tax return shows very little taxable profit. This makes it difficult for us to qualify for loans. How can we refinance to take advantage of today's low mortgage rates? (Sun, 11 Jan 2009 08:09:48 GMT)

Appraisers unhappy with new code of conduct
When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less '” maybe just half '” of the $300 to $600 you're charged on your settlement sheet? Should you know who pockets the rest, or that cut-rate fees are too low to attract the most experienced, highly trained appraisers? These and other questions are at the core of a swirling ... (Sun, 11 Jan 2009 08:11:02 GMT)

Shore Mortgage to add territory and workers
All is not grim in southeastern Michigan's real estate business, despite depressed housing values and frequent foreclosures. Birmingham-based Shore Mortgage is on a hiring blitz. (Sun, 11 Jan 2009 08:20:41 GMT)

Home equity decline forces tough choices for retirement nest eggs
The safety net is almost gone, the nest egg is cracking. Many Americans have recently found themselves changing retirement plans after losing a substantial amount of home equity as the housing market and the overall U.S. economy struggle. These folks face years of living on fixed incomes from pensions, 401(k)s or IRAs, and Social Security, but don't have the time to recover their losses. ... (Sun, 11 Jan 2009 08:21:05 GMT)

State Mortgage Relief Programs Helping Only A Few
n examination of Connecticut's mortgage relief programs shows that only a small fraction of homeowners have qualified for aid that was meant to reach many more families.The state programs are so narrow and carry so many restrictions that getting approval is nearly impossible. (Sun, 11 Jan 2009 10:56:38 GMT)

Good credit score no longer ensures getting great rate on loan
Q: I purchased a home in 2005 in Pensacola, Fla., expecting to move there. I then had a change and moved more than 500 miles away, to Brevard County, Fla. (Sun, 11 Jan 2009 12:36:52 GMT)

Historic rates spur mortgage savings
It's never been this inexpensive to borrow money to buy a home. Mortgage rates dropped for the 10th straight week, reaching historic lows. And applications for mortgages are up nearly 30 percent over last year, according to data from the Mortgage Bankers Association. The mortgage industry and the mortgage process are changing along with the rates. "Anything people thought they knew two ... (Sun, 11 Jan 2009 15:50:08 GMT)

Bank bosses discuss mortgage plan
The government could be set to step in and guarantee mortgage lending under a plan being discussed this weekend. (Sun, 11 Jan 2009 17:47:41 GMT)

Home Price Depreciation Slowed in November, Says JP Morgan
Banking giant JP Morgan said an analysis of loan performance data reveals that home price depreciation slowed in November. The company forecast that prices may stablize by the end of 2009. (Sun, 11 Jan 2009 17:56:41 GMT)

Who does the appraisal, and how much they're paid, matter
When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less -- maybe just half -- of the $300 to $600 you're charged on your settlement sheet? Should you know who pockets the rest or that cut-rate fees are too low to attract the most experienced, highly trained appraisers? (Sun, 11 Jan 2009 19:59:31 GMT)

Mortgage Matters: Smart borrowers do homework before they refinance
Another flurry of refinance activity took place last week as the federal government started to make good on its promise of purchasing $500 billion in mortgage-backed securities. (Mon, 12 Jan 2009 00:10:53 GMT)

Mortgage Modification: Do They Deliver?
San Diego 6 News gets an insider look at how one "mortgage modification" firm operates. (Mon, 12 Jan 2009 00:50:42 GMT)

Man fined for burgling cousin's home
An unemployed security guard who had fallen on tough times broke into his cousin's home and sold the goods he stole, Tauranga District Court was told today. (Mon, 12 Jan 2009 03:58:17 GMT)

Man fined for burgling cousin's home
An unemployed security guard who had fallen on tough times broke into his cousin's home and sold the goods he stole, Tauranga District Court was told today. (Mon, 12 Jan 2009 04:11:11 GMT)

Refinancing a 'no-brainer'
SIOUX CITY -- Looking to free up cash by refinancing their homes at the lowest rates in a generation, tri-state homeowners have flooded area lender offices in recent weeks. (Mon, 12 Jan 2009 04:55:06 GMT)

U.S. mortgage meltdown linked to 2005 bankruptcy law
There’s no shortage of blame for the mortgage crisis that drove the economy into the ditch. But here’s a fresh culprit: the 2005 bankruptcy reform act. (Mon, 12 Jan 2009 05:26:23 GMT)

Home loan applications pile up
A “tremendous” surge in residential mortgage applications is a welcome boost not only for a battered industry, but also for an economy looking for liquidity. (Mon, 12 Jan 2009 05:42:32 GMT)

Lessons Learned: Mortgage refi paid off
“He that can have patience can have what he will.” — Benjamin Franklin A salute to readers who called mortgage brokers, then took advantage of the bargain residential loan rates mentioned in my mid-December column. (Mon, 12 Jan 2009 06:34:46 GMT)

Refinancing shoots through the roof
Prices for everything seem to be going up, but one bright spot has emerged for homeowners. “With the rates at the current levels there have been a big increase in refinancing,” said Edward J Stankunas, a certified mortgage banker with Prime Lending in Plano. (Mon, 12 Jan 2009 06:43:30 GMT)

McKinney mortgage scam goes federal
An unsealed indictment reveals Brent Timothy Baird will face federal charges for allegedly scamming investors and homeowners on the brink of collapse in a mortgage fraud scheme. (Mon, 12 Jan 2009 06:45:02 GMT)

Hud Approves $777 Million in loan insurance for Capital Health Hospitals
Capital Health System President and CEO Al Maghazehe announced this week that the U.S. Department of Housing and Urban Development made a commitment to insure a loan to Capital Health System to construct its new hospital in Hopewell Township and provide extensive renovations to the Fuld Campus in Trenton. The... (Mon, 12 Jan 2009 07:37:23 GMT)

Low loan rates attract some home buyers
Mortgage rates are dropping to near record lows, enticing new homebuyers into the fray and possibly signaling an end to falling home prices. (Mon, 12 Jan 2009 09:37:54 GMT)

BOE: UK Average 2-Year Fixed Mortgage Rate Drops To 2.5-Year Low
LONDON -(Dow Jones)- The average monthly interest rate at U.K. lenders on a two-year fixed-rate mortgage for 75% of the value of the property on which it is secured fell to its lowest level for more than two and a half years in December, Bank of England figures showed Monday. (Mon, 12 Jan 2009 10:22:41 GMT)

Not Everyone Enjoying Low Mortgage Rates
The government is pushing interest rates on home loans down to their lowest levels in more than 35 years. That's helped a lot of people who've refinanced save hundreds of dollars a month on their mortgage payments. But a lot of people can't qualify for those low rates. And it's not just those with bad credit. People with more expensive homes are also being left out. (Mon, 12 Jan 2009 10:24:59 GMT)

Sell short, refinance, but try not to lose you home
Every day, hundreds of people in Central Florida continue to slip into the foreclosure whirlpool and spiral downward toward the day they may have to leave their home. What should you do if you are on the verge of getting a foreclosure notice? (Mon, 12 Jan 2009 10:54:03 GMT)

Lloyds TSB and C&G to cut mortgage rates
UK-based Lloyds TSB Group along with its subsidiary Cheltenham & Gloucester has announced that it will reduce its standard variable mortgage rate by the full 0.5%, to a new rate of 3.5%, effective February 1, 2009. (Mon, 12 Jan 2009 10:56:20 GMT)

Federal Home Loan Bank of Boston appoints new chairman
The board of directors of the Federal Home Loan Bank of Boston has elected Jan Miller to a two-year term as chair of the board. (Mon, 12 Jan 2009 10:58:35 GMT)

5 steps to a successful refinance
Paying close attention to these five steps can help ensure a successful mortgage refinance. (Mon, 12 Jan 2009 11:00:00 GMT)

Taiwan Mulls Setting Up A Home-Loan Repayment Guarantee Fund
TAIPEI -(Dow Jones)- Taiwan's Cabinet said Monday it is considering setting up a home-loan repayment guarantee fund to stimulate the island's housing market. (Mon, 12 Jan 2009 11:23:22 GMT)

Lending a hand: Help is out there for refinancing
SIERRA VISTA — With long-term fixed-rate mortgages at their lowest in over three decades, many homeowners may soon be looking at refinancing their mortgage. (Mon, 12 Jan 2009 11:36:17 GMT)

5 steps to a successful refinance
As mortgage rates dip to multiyear lows, many homeowners wonder if a new loan could save them money. Others fear the rate on their adjustable-rate mortgages might move up significantly and crave the certainty of a fixed-rate loan. (Mon, 12 Jan 2009 11:53:05 GMT)

Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, My mortgage is at 9 percent. I owe $170,000 on the property, but the market value is down to about $135,000. I realize I have no equity for a refinance, but can I recast the mortgage for a lower interest rate if I maintain the same term of the loan? (Mon, 12 Jan 2009 11:53:55 GMT)

Over 300 Mortgage-Related Failures
The number of non-bank mortgage companies to close eased last year, but bank and credit union failures soared, according to data tracked at the Mortgage Graveyard, a journal of failed, ailing and acquired lenders. (Mon, 12 Jan 2009 12:00:00 GMT)

I stole back my repossessed home: How one woman became a squatter in her own house
Samantha was an interior designer for stars and royalty. But after a series of disasters, she's ended up a squatter in her own £1.6m home. (Mon, 12 Jan 2009 13:03:36 GMT)

Mortgage Refinancing
BJ Sellers, Vice President of Certified Mortgage Planners, stopped by FOX 35 Monday morning with some tips about mortgage refinancing. (Mon, 12 Jan 2009 13:06:59 GMT)

Treasurys Fall, Losing Appeal To Corporate, Mortgage Debt
Treasurys Fall, Losing Appeal To Corporate, Mortgage Debt (Mon, 12 Jan 2009 13:58:36 GMT)

Consumer Advocate Ralph R. Roberts Reveals the Top Five Dos and Donts of Loan Modification
DETROIT----Ralph R. Roberts, consumer advocate and spokesperson for Federal Loan Modification Law Center, LLP, today revealed the top five do’s and don’ts of loan modification. Since losing one of his own homes to foreclosure in the late 1970s, Roberts has made it his life’s mission to prevent unnecessary home foreclosures. (Mon, 12 Jan 2009 14:00:00 GMT)

Mortgage Lending Jobs Thrive as Other Sectors Dive
With home loan rates at record lows, hiring by mortgage lenders surges. (Mon, 12 Jan 2009 14:02:33 GMT)

Lennar denies making improper loan to executive
No. 2 U.S. homebuilder Lennar Corp said on Monday that its chief operating officer had not received a mortgage on his home from the company and denied treating its joint ventures like a "Ponzi scheme." (Mon, 12 Jan 2009 14:41:04 GMT)

Should You Refinance?
Yes – if you plan to stay awhile. But homeowners should consider alternative ways to save money long-term, writes Brett Arends. (Mon, 12 Jan 2009 15:00:48 GMT)

Refinancing tips
Use a refinancing to reduce monthly payments, consolidate debt, tap built-up equity or switch mortgage products. Shop around among brokers and lenders to find the best deals or seek a 'loan modification' from your current lender. (Mon, 12 Jan 2009 15:49:03 GMT)

AMI briefs Cable for mortgage debate
The Association of Mortgage Intermediaries has written to Liberal Democrat Shadow Chancellor Vince Cable warning him of dire consequences if “effective measures” for the mortgage market aren’t implemented immediately. ... (Mon, 12 Jan 2009 16:07:55 GMT)

Indiana Sets New State Record For Mortgage Modifications
INDIANA (Indiana's NewsCenter) - A record number of Hoosiers are trying to save their homes from foreclosure by modifying their mortgages. The Homeowners Preservation Foundation says there were 5,000 mortgage modifications statewide during the third quarter of last year. (Mon, 12 Jan 2009 16:27:23 GMT)

Refinancing home may be smart idea
The economic turmoil of 2008 has left few bright spots, but here's one: Mortgage rates have plummeted. Rates on 30-year, fixed loans are hovering around 5 percent -- the lowest level since Freddie Mac began tracking rates in 1971. Some economists predict a further slide in rates once Barack Obama becomes president and rolls out an economic rescue plan. (Mon, 12 Jan 2009 16:30:48 GMT)

Five Tips for Borrowing From Home Equity
Home prices have fallen and lending restrictions have tightened up, but there are still times when dipping into your home equity is the right move. (Mon, 12 Jan 2009 16:36:47 GMT)

Pittsburgh-based commercial mortgage banker HFF cuts 12 percnt of its workforce
A Downtown Pittsburgh-based commercial mortgage banker is scaling back amid one of the worst real estate markets in recent memory. (HFF) (Mon, 12 Jan 2009 16:49:04 GMT)

Great Wolf shares fall on mortgage loan concerns
Shares of Great Wolf Resorts Inc. sank on Monday after the company announced another short-term extension for its Mason, Ohio-based resort's mortgage loan, but at slightly less favorable terms for the company. (Mon, 12 Jan 2009 18:17:41 GMT)

Kaka urges Beckham to extend Milan loan
Brazilian star Kaka is leading the campaign for David Beckham to stay at Italian giants AC Milan beyond his agreed loan spell. (Mon, 12 Jan 2009 18:48:39 GMT)

Lennar Denies Improper Loan to Executive
Lennar , the second-largest hombuilder in the nation, said on Monday that its chief operating officer had not received a mortgage on his home from the company and denied treating its joint ventures like a “Ponzi scheme,” Reuters reported. (Mon, 12 Jan 2009 19:17:53 GMT)

9,000 Virginians Could get Mortgage Relief (2:49pm)
RICHMOND, Va. (AP) - Attorney General Bob McDonnell says a settlement with Countrywide Financial could provide some mortgage relief for some of the lender's Virginia customers. (Mon, 12 Jan 2009 19:55:25 GMT)

Revving Mortgage Market Seen Stalling in '09
13 January 2009 The first half of 2008 was an exceptionally successful period for the mortgage market, which saw a 67 percent increase in loans issued from the same period a year earlier, according to a report from the Agency for Housing Mortgage Lending. (Mon, 12 Jan 2009 21:14:33 GMT)

Three sentenced in mortgage fraud scheme
Three South Floridians have been sentenced for their participation in a mortgage fraud scheme. (Mon, 12 Jan 2009 21:22:43 GMT)

Homeowners Rush To Refinance At Lower Rates
To get the best deal on your mortgage, experts urge borrowers not to wait for a better rate. (Mon, 12 Jan 2009 22:32:03 GMT)

Refinancing widespread as interest rates plunge
RALEIGH – Bankers and mortgage brokers in North Carolina say that while the housing market is still slow, they're being flooded with calls by people looking to save money by locking into a lower rate. (Mon, 12 Jan 2009 22:47:54 GMT)

Got Credit? Debt Market Starts To Thaw As Mortgage Rates Fall, Spreads Narrow
Mortgage rates are falling to record lows, key credit measures have improved, and corporate bond sales have started off strong in the new year. (Tue, 13 Jan 2009 00:09:47 GMT)

UK mortgage lenders not immune to further negative rating actions
Moody's Investors Service took several rating actions on UK mortgage lenders in 2008, the vast majority of them in a negative direction. In a new Special Comment, Moody's says that further rating acti (Tue, 13 Jan 2009 02:23:06 GMT)

Mortgage relief is reaching few who need it
(By Christina Rexrode, crexrode@charlotteobserver.com) Harold and Monica McKenzie were thrilled when they heard about a legal settlement requiring their mortgage lender, Countrywide Financial, to make its loans more affordable for hundreds of thousands of customers. They thought the settlement might help them keep their Kannapolis house, where they live with their two daughters and pet ... (Tue, 13 Jan 2009 05:03:33 GMT)

Jury recommends life without parole for man who raped, killed woman in 2004
Convict in rape, killing of loan officer in 2004 avoids death penalty When the bank loan officer arrived to find the crack-addicted youth burglarizing her Imperial Point home, he strangled and raped her. (Tue, 13 Jan 2009 05:13:29 GMT)

Lending a hand: Help is out there for refinancing
SIERRA VISTA — With long-term fixed-rate mortgages at their lowest in over three decades, many homeowners may soon be looking at refinancing their mortgage. (Tue, 13 Jan 2009 06:06:17 GMT)

Reverse mortgage seminar for seniors to be held Wednesday
Reverse mortgage seminar to be held (Tue, 13 Jan 2009 06:17:05 GMT)

Synovus, Comerica Brace for Commercial Real Estate Loan Bust
Jan. 13 (Bloomberg) -- Synovus Financial Corp., Comerica Inc. and Huntington Bancshares Inc. are among regional banks that may face a second wave of real-estate loan losses, this time for shopping centers and residential construction projects. (Tue, 13 Jan 2009 06:30:14 GMT)

Man charged in $7G theft
WOODBURY HEIGHTS A man recently charged with assaulting a Gloucester Township police officer was arrested Friday and charged with taking nearly $7,000 from a South Carolina couple seeking to refinance a mortgage. (Tue, 13 Jan 2009 06:31:43 GMT)

HouseRebate.com Now Offering Short Sale Program: Sell Your Home at No Cost and Avoid Foreclosure
New "Short Sale" program aids homeowners to avoid foreclosure. Consumers can now sell their home at no cost even if the outstanding loan balance is greater than the value of their home. For consumers that do not want to sell their home, a free loan modification kit is available. (Tue, 13 Jan 2009 07:01:00 GMT)

McKinney mortgage scam goes federal
An unsealed indictment reveals Brent Timothy Baird will face federal charges for allegedly scamming investors and homeowners on the brink of collapse in a mortgage fraud scheme. (Tue, 13 Jan 2009 07:31:15 GMT)

Puncheon rejoins MK Dons on loan
Plymouth Argyle winger Jason Puncheon rejoins MK Dons on loan after being recalled just before Christmas. (Tue, 13 Jan 2009 09:14:23 GMT)

Charges laid in alleged Ponzi scheme: Former mortgage broker shuttered business in '04; police put fraud at $1.9
A former St. John's businessman - whose mortgage brokerage shuttered in 2004 in the wake of hundreds of thousands of dollars in civil judgments and two licence suspensions by provincial regulators - is now facing a raft of fraud charges in relation to an alleged $1. (Tue, 13 Jan 2009 12:16:24 GMT)

Federal Home Loan Bank Of Seattle To Report Capital Deficiency
The Federal Home Loan Bank of Seattle said it will likely report a risk-based capital deficiency as of Dec. 31 caused by unrealized losses from its private- label mortgage-backed securities investments. (Tue, 13 Jan 2009 14:23:57 GMT)

Mortgage rates fall below 5% in U.S., N.C.
The average interest rate for a 30-year fixed-rate mortgage fell below 5 percent last week, prompting many homeowners to investigate refinancing options, according to a report released Tuesday by real estate Web site Zillow.com. (Tue, 13 Jan 2009 14:49:02 GMT)

Seattle FHLB Likely Short of Capital on Mortgage Debt (Update1)
Jan. 13 (Bloomberg) -- The Federal Home Loan Bank of Seattle joined its San Francisco counterpart in suspending dividends and “excess” stock repurchases, after the declining value of mortgage bonds likely led to a regulatory capital shortfall. (Tue, 13 Jan 2009 15:33:19 GMT)

Seattle FHLB Likely Short of Capital on Mortgage Debt (Update1)
Jan. 13 (Bloomberg) -- The Federal Home Loan Bank of Seattle joined its San Francisco counterpart in suspending dividends and “excess” stock repurchases, after the declining value of mortgage bonds likely led to a regulatory capital shortfall. (Tue, 13 Jan 2009 15:35:30 GMT)

Home Refinancing: Is Now The Time?
Mortgage rates are at a record low, homeowners looking to save money in this economy are asking if now is a good time to refinance. (Tue, 13 Jan 2009 16:23:08 GMT)

Deadline nears for Ada Habitat for Humanity home applications
Ada Habitat for Humanity is taking applications from low income and very low-income families in the Ada area to become Habitat homeowners. Habitat families are selected on the basis of housing need, ability to repay the home loan, and willingness to participate as a partner in Habitat’s ministry. (Tue, 13 Jan 2009 16:26:47 GMT)

Mortgage rates back below 5 percent
The average interest rate for a 30-year fixed-rate mortgage fell under 5 percent last week, prompting many homeowners to investigate refinancing options, according to real estate Web site Zillow.com. (Tue, 13 Jan 2009 17:15:50 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. (Tue, 13 Jan 2009 17:23:57 GMT)

Sector Snap: Mortgage insurers up despite outlook
Shares of private U.S. mortgage insurers rose Tuesday, despite a Fitch Ratings report warning it will be a difficult year with continued losses and capital demands. (Tue, 13 Jan 2009 17:24:50 GMT)

QUICK POLL
Will Obama’s Economic Recovery Plan Help CRE? FALLS CHURCH, VA-Deutsche Bank Berkshire Mortgage helped secure a $51-million Freddie Mac loan to refinance Fairfield Crossing, a 493-unit garden style apartment building here that is managed and partially owned by Zuckerman Gravely. (Tue, 13 Jan 2009 17:46:24 GMT)

Great Wolf shares fall on mortgage loan concerns
Shares of Madison-based Great Wolf Resorts Inc. sank on Monday after the company announced another short-term extension for its Mason, Ohio-based resort's mortgage loan, but at slightly less favorable terms for the company. Great Wolf shares dropped 62 cents, or 25.1 percent, to close at $1.85. The stock has lost more than three-fourths of its value in the past year, dropping more sharply in ... (Tue, 13 Jan 2009 18:24:20 GMT)

Home Refinancing: Is now the time?
Mortgage rates are at a record low, homeowners looking to save money in this economy are asking if now is a good time to refinance. (Tue, 13 Jan 2009 18:33:23 GMT)

The Wellness Community of CNJ Receives Check from Wells Fargo Program
The Wellness Community of CNJ (TWC-CNJ) has received $1,200.00, to date, in donations as a direct result of the Wells Fargo Home Mortgage "Sharing Advantage" Program. This program allows borrowers who purchase or refinance their home to direct Wells Fargo to donate to a 501 (c) (3) charity. (Tue, 13 Jan 2009 18:34:27 GMT)

Mortgage officer jailed for fraud
Dorchester mortgage officer Nicole Lyder pled guilty in Suffolk Superior Court on Monday to multiple charges that she fraudulently secured subprime mortgages for several unqualified home buyers. (Tue, 13 Jan 2009 18:34:58 GMT)

Seattle FHLB Likely Short of Capital on Mortgage Debt (Update2)
Jan. 13 (Bloomberg) -- The Federal Home Loan Bank of Seattle joined its San Francisco counterpart in suspending dividends and “excess” stock repurchases, after devalued mortgage bonds dropped its capital below a regulatory requirement. (Tue, 13 Jan 2009 18:53:26 GMT)

Dorchester woman sentenced to two years in mortgage scam
A Suffolk Superior Court judge has sentenced a Dorchester mortgage officer to two years in prison after the woman pleaded guilty to buffing up consumers' subprime-mortgage... (Tue, 13 Jan 2009 19:05:52 GMT)

Calls for 'floor' on mortgage rates
The Council of Mortgage Lenders has called for the introduction of a "floor" beyond which lenders would not be expected to reduce their mortgage rates. (Tue, 13 Jan 2009 19:18:31 GMT)

Time to refinance? Online tools can help
CHARLOTTE, N.C. -- With mortgage rates at a record low this could be a good time to refinance. But experts say before you do that, you need to sit down and crunch the numbers. (Tue, 13 Jan 2009 19:53:03 GMT)

Seattle FHLB Likely Short of Capital on Mortgage Debt (Update3)
Jan. 13 (Bloomberg) -- The Federal Home Loan Bank of Seattle said it will suspend dividends and “excess” stock repurchases, becoming the second of the government-chartered lending cooperatives to say its capital may be running low. (Tue, 13 Jan 2009 20:15:03 GMT)

SBS cuts floating mortgage rates
New Zealand's newest bank, SBS Bank, is undercutting its larger counterparts with a floating mortgage rate of 7.2 percent. (Tue, 13 Jan 2009 20:33:10 GMT)

California mortgage rates fall below 5%
The average interest rate for a 30-year fixed-rate mortgage fell below 5 percent last week, prompting many homeowners to investigate refinancing options, according to a report by real estate Web site Zillow.com. (Tue, 13 Jan 2009 20:35:35 GMT)

Now may be a good time to refinance
Mortgage rates are at a record low, and homeowner looking to save money in this economy are asking if now is a good time to refinance. (Tue, 13 Jan 2009 20:37:13 GMT)

Revving Mortgage Market Seen Stalling in '09
13 January 2009 By Yelena Khutornykh / Vedomosti The first half of 2008 was an exceptionally successful period for the mortgage market, which saw a 67 percent increase in loans issued from the same period a year earlier, according to a report from the Agency for Housing Mortgage Lending. (Tue, 13 Jan 2009 21:02:29 GMT)

ShareChat News: Longer term home loan rates start dropping
Mainstream banks are starting to lower longer term fixed home loan rates. Westpac was the first to move last week and ANZ National has now followed suit. ANZ National has lowered rates for both its banks today with falls of 10 to 89 basis points for rates of more than two years maturity. (Tue, 13 Jan 2009 21:56:10 GMT)

National Bank, ANZ drop mortgage rates ahead of OCR
ANZ and National Bank have announced they are dropping their fixed-term mortgage rates ahead of the next Official Cash Rate (OCR) announcement. (Tue, 13 Jan 2009 22:33:17 GMT)

Low mortgage interest rates prompt refinancing rush
The inauguration is one week away, and with that comes hope for an improved economy. (Tue, 13 Jan 2009 22:58:29 GMT)

Treasury Bought $21.8 Billion of Mortgage Securities Last Month
Jan. 13 (Bloomberg) -- The Treasury Department bought $21.8 billion of Fannie Mae and Freddie Mac home-loan securities in December, bringing its purchases under a program aimed at reducing mortgage costs to $71.5 billion last year. (Tue, 13 Jan 2009 23:55:19 GMT)

Memphis mortgage rescue company agrees to stop 'illegal practices'
Memphis mortgage rescue company Patrick & Patrick Loss Mitigation Services has agreed to stop what the Tennessee Attorney General charged in a Nov. 18 lawsuit were illegal activities. (Wed, 14 Jan 2009 00:39:38 GMT)

Australia’s Home-Loan Approvals Rise After Rate Cuts (Update1)
Jan. 14 (Bloomberg) -- Australian home-loan approvals rose in November after the central bank extended the biggest round of interest-rate cuts since the economy was last in a recession in 1991. (Wed, 14 Jan 2009 01:09:19 GMT)

New home buyers boost loan approvals
THE number of home-loan approvals increased in November as buyers took advantage of the lowest interest rates in almost five years. (Wed, 14 Jan 2009 01:15:00 GMT)

Australia’s November Home-Loan Approvals: Summary (Table)
Jan. 14 (Bloomberg) -- Following are Australia’s home-loan figures for November released by the Australian Bureau of Statistics in Sydney. Note: Figures are seasonally adjusted. Percent changes for investment loans are calculated by Bloomberg News. (Wed, 14 Jan 2009 01:39:08 GMT)

Should you refinance? And other links...
Should you refinance? That's the question It's Only Money will tackle in Sunday's column. Wall Street Journal columnist Brett Arends offers his advice. There are other factors to consider, even if mortgage rates fall further, as Five Cent Nickel suggests.... (Wed, 14 Jan 2009 01:54:50 GMT)

Tough Tips: Seven Rules for Refinancing
Amid the mortgage mess, Suze Orman and Michael Moskowitz share their advice. (Wed, 14 Jan 2009 02:29:02 GMT)

Australian Home-Loans Rise on First-Buyers’ Demand (Update2)
Jan. 14 (Bloomberg) -- Australian home-loan approvals rose in November, led by first-home buyers, after the central bank extended the biggest round of interest-rate cuts since the economy was last in a recession in 1991. (Wed, 14 Jan 2009 03:02:18 GMT)

Stats show home loan bounce
THE number of new South Australian home loans rose 4.7 per cent in November, official figures show. (Wed, 14 Jan 2009 03:30:00 GMT)

Stats show home loan bounce
THE number of new South Australian home loans rose 4.7 per cent in November, official figures show. (Wed, 14 Jan 2009 03:30:00 GMT)

Home loans rise as first-time buyers return
Home-loan approvals rose in November as first-home buyers upped their market share, offering a glimmer of hope for a battered sector. (Wed, 14 Jan 2009 04:58:00 GMT)

Federal Home Loan Bank of Seattle sees capital shortfall
The Federal Home Loan Bank of Seattle said it will suspend dividends and "excess" stock repurchases, becoming the second of the government-chartered... (Wed, 14 Jan 2009 08:16:05 GMT)

Q: My landlord is in financial trouble over his mortgage. Are his tenants in danger?
A: If the landlord's mortgage is handled by Fannie Mae, yesterday's announcement by the government-sponsored enterprise could keep a roof over any renters' heads. (Wed, 14 Jan 2009 09:58:08 GMT)

Home loans safe - SAHL
The SA Home Loans CEO sees no risk of major fallout in securitised home loan portfolios. (Wed, 14 Jan 2009 11:25:02 GMT)

Co-operative Bank to launch new five-year fixed rate mortgage
UK-based The Co-operative Bank has announced that it is launching a new five-year fixed rate mortgage at a rate of 4.49% for loan-to-value up to 60%, on January 14, 2009. (Wed, 14 Jan 2009 11:27:42 GMT)

US MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Wed, 14 Jan 2009 12:08:23 GMT)

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