Mortgage News Jan 2009
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US MBA Mortgage Survey Table Of Current Interest Rates
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 5.43 1.05 5.22 -2 19 -38 15-Year Fixed 5.27 1.13 4.98 -1 19 -5 ARM, 1-Yr Tsy 5.97 0.06 5.96 6 -19 26 FHA 203 (b) 5.43 1.15 5.23 2 16 -37 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 28 Jan 2009 12:03:21 GMT)
Mortgage applications plunge as interest rates stick
Applications for home mortgages cratered to levels not seen since November last week as rates held stubbornly above record lows engineered by the Federal Reserve earlier this month, according to an industry group. (Wed, 28 Jan 2009 12:17:15 GMT)
Mortgage applications dropped 38.8% last week: MBA
Mortgage applications fall a seasonally adjusted 38.8% in the week ended Jan. 23 compared with the prior week, Mortgage Bankers Association data show, as interest rates charged on fixed-rate mortgages decline slightly. (Wed, 28 Jan 2009 12:21:56 GMT)
(AFX UK Focus) 2009-01-28 12:15 U.S. mortgage applications plunged last week -MBA
NEW YORK, Jan 28 (Reuters) - Applications for U.S. home mortgages cratered to levels not seen since November last week as rates held stubbornly above record lows engineered by the Federal Reserve earlier this month, according to data from an industry group on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity plunged by 38.8 percent to ... (Wed, 28 Jan 2009 12:34:32 GMT)
Mortgage Applications Dropped 38.8% Last Week: MBA
Applications filed for mortgages last week fell a seasonally adjusted 38.8% from the prior week, the Mortgage Bankers Association reported Wednesday. Interest rates charged on fixed-rate mortgages declined slightly over the week. (Wed, 28 Jan 2009 12:49:50 GMT)
U.S. MBA’s Mortgage Applications Index Fell 39% Last Week
Jan. 28 (Bloomberg) -- Mortgage applications in the U.S. slumped last week by the most in 16 years as refinancing plunged. The Mortgage Bankers Association’s index fell 39 percent, the most since 1993, to 732.1 for the week ended Jan. 23. The group’s refinance gauge declined 48 percent, also the most in 16 years, and the purchase measure decreased 2.9 percent. (Wed, 28 Jan 2009 12:56:19 GMT)
California Mortgage Defaults Drop
California mortgage defaults hit lowest in a year, the temporary result of a procedural change that took effect in September (Wed, 28 Jan 2009 13:36:48 GMT)
Mortgage Applications Plunge Nearly 39 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume decreased almost 39 percent last week, as refinance activity sank nearly 50 percent. (Wed, 28 Jan 2009 14:18:45 GMT)
Moran to Head IT at Federal Home Loan Bank of SF
Ned Moran was named CIO of San Francisco-based financial institution. Federal Home Loan Bank of San Francisco has appointed Ned Moran SVP and chief information officer. (Wed, 28 Jan 2009 14:30:02 GMT)
Wells Fargo Mortgage Applications Jump 158%
Wells Fargo Mortgage Applications Jump 158% (Wed, 28 Jan 2009 14:39:50 GMT)
Mortgage applications plunge
Applications fall as home prices continue to drop and mortgage rates hold above earlier record lows. (Wed, 28 Jan 2009 14:43:02 GMT)
U.S. MBA’s Mortgage Applications Index Fell 39% Last Week
Jan. 28 (Bloomberg) -- Mortgage applications in the U.S. slumped last week by the most in 16 years as refinancing plunged. The Mortgage Bankers Association’s index fell 39 percent, the most since 1993, to 732.1 for the week ended Jan. 23. The group’s refinance gauge declined 48 percent, also the most in 16 years, and the purchase measure decreased 2.9 percent. (Wed, 28 Jan 2009 14:46:44 GMT)
Tampa Real Estate: Find Your Dream Home
Buying a home will be a huge decision that you make since you will be committed to the mortgage loan for plenty of years to come. Plenty of potential buyers are not scared of this idea. (Wed, 28 Jan 2009 15:01:33 GMT)
Jumbo-Loan, Home-Equity Delinquencies Spiked In December
Delinquencies on U.S. residential mortgage-backed securities ended 2008 on a high point, though not the one wanted by investors or those waiting for housing woes to bottom, as Standard & Poor's Ratings Service said rates continued to climb in December. (Wed, 28 Jan 2009 15:33:44 GMT)
Mortgage Rates Up, Refinancing Applications Down
The Mortgage Bankers Association's refinancing index fell by nearly 50 percent from a week earlier. (Wed, 28 Jan 2009 15:55:35 GMT)
Banks make refinancing harder
By MARCELLA KREITER CHICAGO, Jan. 27 (UPI) -- At least two U.S. banks have tightened mortgage rules, making it virtually impossible for anyone with a second mortgage to refinance, a broker said Tuesday. (Wed, 28 Jan 2009 16:01:03 GMT)
Mortgage applications drop in week
The volume of applications for U.S. mortgages decreased by a seasonally adjusted 38.58 percent in the week ending Jan. 23, an industry group said.The Market Composite Index, which measures mortgage loan application volume, fell from 1,195.3 to 732.1, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also fell, dropping 2.9 percent to 294.3, the MBA said.The average ... (Wed, 28 Jan 2009 17:07:01 GMT)
First Tennessee sells 22% of first lien mortgage portfolio
First Tennessee Bank N.A. has sold $14 billion of first lien mortgage loans to an unidentified buyer. (FHN) (Wed, 28 Jan 2009 17:12:49 GMT)
Mortgage Rates Up, Refinancing Applications Down
The Mortgage Bankers Association's refinancing index fell by nearly 50 percent from a week earlier. (Wed, 28 Jan 2009 17:15:44 GMT)
EMEA commercial mortgage-backed securities markets to remain dull in 2009
(RTTNews) - The issuance of commercial mortgage-backed securities, CMBS, in Europe, the Middle East and Africa or EMEA for short, is likely to remain muted in 2009, the Moody's Investors Service said Wednesday. (Wed, 28 Jan 2009 17:19:13 GMT)
Federal Home Loan Bank of Atlanta to Award $3.6 Million for Housing in Alabama
Federal Home Loan Bank of Atlanta announced today that it will award $3.6 million to fund 9 affordable housing developments in Alabama. (Wed, 28 Jan 2009 17:29:00 GMT)
Low-interest home repair loans available
Homeowners in Stephenson County are eligible to apply for low interest home improvement loans, thanks to a United States Department of Agriculture (USDA) Rural Development program. A Rural Development repair loan is similar to a home improvement loan. The money must be used to improve or modernize homes, make them safer and more sanitary, or remove health and safety hazards. (Wed, 28 Jan 2009 18:43:42 GMT)
First Tennessee sells $14B in first-lien mortgage loans
First Tennessee Bank N.A. has sold $14 billion of first lien mortgage loans to an undisclosed buyer, the bank announced. (FHN) (Wed, 28 Jan 2009 19:46:29 GMT)
Record Low Mortgage Rates =Many Home Owners Refinancing
One bright spot in these otherwise dark economic times might be mortgage rates, which have dipped to historic lows. There are no shortage of applicants hoping to refinance according to Joe Curatolo, a financial planner with Georgetown Capitol Group in Williamsville. (Wed, 28 Jan 2009 20:21:06 GMT)
USDA Rural Development Reducing Home Loan Interest Rate
The U.S. Department of Agriculture Rural Development agency is reducing its interest rate on direct home loans to 4.375 percent. The change is effective on February 1st. (Wed, 28 Jan 2009 20:57:54 GMT)
With rates at historical lows, now is the time to refinance
With rates at historical lows, now is the time to refinance your home! Primary Residential Mortgage is a nationwide lender servicing 47 states with 245 branches and has been in business since 1998. As a full-service mortgage company not encumbered by debt, they can offer the lowest rates and closing costs. (Wed, 28 Jan 2009 21:32:41 GMT)
Mexico Housing Bank Sees MXN20 Billion In Mortgage Bonds In 2009
MEXICO CITY -(Dow Jones)- Mexican housing development bank Sociedad Hipotecaria Federal said Wednesday it expects around 20 billion pesos ($1.42 billion) in mortgage-backed securities to be issued this year in the local market. (Wed, 28 Jan 2009 21:34:13 GMT)
Fed warns of deepening slump, may move on mortgage rates
The Federal Reserve on Wednesday kept its benchmark lending rate near zero and said that it's likely to stay that way for some time, as it also signaled new efforts to lower home-mortgage rates. In an unusually detailed statement, it warned of a grim economic outlook. (Wed, 28 Jan 2009 22:59:36 GMT)
REGION: Former Rancho Santa Fe couple indicted on mortgage fraud
SAN DIEGO ---- A federal indictment unsealed in San Diego on Wednesday charges a husband and wife with mortgage fraud, false statements on loan applications, bankruptcy fraud, contempt of court, perjury and money laundering in connection with a Rancho Santa Fe home purchased in 2004. (Thu, 29 Jan 2009 03:33:26 GMT)
Should you prepay your home loan?
If you can afford to make larger payments towards your home loan, perhaps because of a promotion or because of a bonus, then making prepayments towards your home loan is a very good idea as it will save you a lot of money over the term of the loan. (Thu, 29 Jan 2009 03:48:25 GMT)
Govt to talk to Kiwibank about mortgage break fee
Finance Minister Bill English says Kiwibank can expect to hear from the Government about its high mortgage loan break fees. (Thu, 29 Jan 2009 04:50:18 GMT)
Fliers will promote mortgage counseling
The area Mortgage Relief Efforts group will start a pilot program next month to put fliers promoting mortgage counseling with workers' pay slips. (Thu, 29 Jan 2009 06:09:51 GMT)
Coffee Break: First Tennessee Bank will sell mortgage services
First Tennessee Bank has agreed to sell mortgage servicing rights on $14 billion of first mortgage loans owned or securitized by Fannie Mae or Freddie Mac. (Thu, 29 Jan 2009 06:10:01 GMT)
MortgageLoan.com Gives Real Estate and Mortgage Brokers Online Marketing Toolkit
Today MortgageLoan.com announces one of the Web's largest real estate and mortgage marketing tool kits. Real estate and mortgage brokers are seeking to engage and acquire customers in smarter ways on the Internet.MortgageLoan.com's marketing widgets help real estate professionals deliver the information that their customers want before talking about buying or refinancing a home. (Thu, 29 Jan 2009 07:01:00 GMT)
Eagan man sentenced in mortgage fraud
An Eagan man who defrauded people of more than $1 million in a mortgage scheme has been sentenced to more than seven years in prison. (Thu, 29 Jan 2009 07:25:34 GMT)
REGION: Former Rancho Santa Fe couple indicted on mortgage fraud
SAN DIEGO ---- A federal indictment unsealed in San Diego on Wednesday charges a husband and wife with mortgage fraud, false statements on loan applications, bankruptcy fraud, contempt of court, perjury and money laundering in connection with a Rancho Santa Fe home purchased in 2004. (Thu, 29 Jan 2009 08:33:26 GMT)
Mortgages: The ABCs Of Refinancing
Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many common reasons why homeowners refinance: the opportunity to obtain a lower interest rate; the chance to shorten the term of their mortgage; the desire to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa; the opportunity to tap a home's equity in order to ... (Thu, 29 Jan 2009 09:13:33 GMT)
When to refinance your mortgage
As mortgage rates plunge, it becomes more tempting to refinance. Find out if such a move makes sense for you. (Thu, 29 Jan 2009 11:00:00 GMT)
Mortgage rates fall below 5.5 percent
Although mortgage rates are low, home inventory levels remain high. How come? (Thu, 29 Jan 2009 11:00:00 GMT)
When to refinance your mortgage
The chance to refinance a mortgage at a lower interest rate is sure to get a homeowner's attention. But it's not always the right decision. Having bragging rights at the neighborhood picnic isn't a reason to refinance. Instead, it's good to put some thought behind the timing of your decision. (Thu, 29 Jan 2009 11:44:36 GMT)
Mortgage rates fall below 5.5 percent
Mortgage rates fell back under 5.5 percent this week. (Thu, 29 Jan 2009 11:44:54 GMT)
Questions to ask before refinancing
With mortgage rates near record low, is it time to refinance? Find out if it will benefit you. (Thu, 29 Jan 2009 11:45:46 GMT)
Coventry sign Henderson on loan
Coventry City sign teenage winger Jordan Henderson on loan from Premier League Sunderland. (Thu, 29 Jan 2009 11:48:01 GMT)
Bankrate: Mortgage Rates Slide Lower
Mortgage rates fell versus one week ago, with the average 30-year fixed mortgage rate now 5.48 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.29 discount and origination points. (Thu, 29 Jan 2009 12:30:00 GMT)
Homeowners refinance at lower mortgage rates
When California state employee Tim McManus peers into the future, he sees 4.5 percent interest. (Thu, 29 Jan 2009 13:16:08 GMT)
Fannie Mae IT contractor indicted for planting malware; Mortgage giant didn't revoke server privileges
A former Fannie Mae IT contractor has been indicted for planting a virus that would have nuked the mortgage agency's computers, caused millions of dollars in damages and even shut down operations. How'd this happen? The contractor was terminated, but his server privileges were not. Rajendrasinh Makwana... (Thu, 29 Jan 2009 14:57:27 GMT)
Cheap home, repair loans available
A loan program to assist Wisconsin residents with home purchases and with home improvements has been announced by the United States Department of Agriculture (USDA) Rural Development. (Thu, 29 Jan 2009 15:28:40 GMT)
Mortgages: Mortgage rates move little this week: Freddie Mac
Mortgage rates barely moved this week, and the average 15-year fixed-rate mortgage didn’t change at all, according to Freddie Mac’s weekly survey. (Thu, 29 Jan 2009 16:06:46 GMT)
30-year mortgage rates fall but remain above 5 percent
The average rate on a 30-year fixed mortgage dipped to 5.10 percent this week from 5.12 percent last week. At this time last year, the 30-year, fixed-rate mortgage averaged 5.68 percent. (Thu, 29 Jan 2009 16:13:40 GMT)
Mortgage interest rates hold steady
WASHINGTON, Jan. 29 (UPI) -- U.S. mortgage interest rates held close to steady in the week ending Jan. 29, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 29 Jan 2009 16:49:20 GMT)
Mortgage Rates Tick Lower in Weekly Survey
Mortgage rates fell slightly this week and remain near record lows but it’s not clear if the cheaper financing will spark buying even as new home sales plunged to the lowest rate on record last month. (Thu, 29 Jan 2009 16:54:49 GMT)
Freddie Mac Says Mortgage Rate Fell to 5.10 Percent (Update1)
Jan. 29 (Bloomberg) -- The average U.S. rate on a 30-year fixed mortgage fell this week as government data showed the economic recession is deepening. (Thu, 29 Jan 2009 17:14:54 GMT)
30-year mortgage rates fall this week
Rates on 30-year mortgages edged down this week, but remained above 5 percent, Freddie Mac reported Thursday. The average rate on a 30-year fixed mortgage dipped to 5.10 percent this week from 5.12 percent last week. (Thu, 29 Jan 2009 17:29:45 GMT)
USDA Rural Development Reducing Home Loan Interest Rates
Marianna – The U.S. Department of Agriculture Rural Development agency is reducing its interest rate on direct home loans to 4.375 percent. The change is effective on February 1st. (Thu, 29 Jan 2009 17:38:03 GMT)
Banks hang tough over home loan 'break' fees
Bank chiefs are resisting pressure to be lenient with customers wanting to break fixed-term mortgage agreements. Rapid falls in floating interest rates and new fixed rates have meant many are left locked into higher payments. (Thu, 29 Jan 2009 18:22:07 GMT)
Mortgage modifications hit a record in Dec.; rates dip
Mortgage companies modified a record 122,000 loans in December to try to avoid foreclosures, an industry group said Thursday. (Thu, 29 Jan 2009 19:54:22 GMT)
Mortgage rates slide in sour housing market
Mortgage rates fell over the past week, benefiting from the Federal Reserve's pledge to take all necessary action to stimulate the economy. (Thu, 29 Jan 2009 21:43:19 GMT)
Mortgage rates jump to 5%
Mortgage rates climbed back up to 5% in Orange County amid bad housing and economic news. (Thu, 29 Jan 2009 22:33:39 GMT)
Lending Is Changing; Getting A Mortgage May Take Bank Visit
Mortgage brokers are now nearly as stressed as homeowners, having lost both customers and lending options. (Thu, 29 Jan 2009 23:11:40 GMT)
Low interest rates leading to more refinancing
With mortgage interest rates at all time lows, homeowners are looking to refinance. It's keeping appraisers busy, but there is no guarantee owners will get the low rates. (Thu, 29 Jan 2009 23:14:26 GMT)
Fed Buys Mortgage Bonds, Confronts Treasury Yields (Update2)
Jan. 29 (Bloomberg) -- The Federal Reserve bought $16.8 billion of Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds, as the central bank’s program aimed at keeping home-loan rates low confronts rising Treasury yields. (Fri, 30 Jan 2009 00:16:03 GMT)
Hong Kong Budget May Extend Home Loan Relief, Morning Post Says
Jan. 30 (Bloomberg) -- Hong Kong’s government may extend the duration of tax relief for interest paid on home loans in next month’s budget, the South China Morning Post said today, citing people close to the city’s government it didn’t identify. (Fri, 30 Jan 2009 01:48:02 GMT)
Mortgage rates drop slightly to 5.1 percent
McLEAN, Va. — Rates on 30-year mortgages edged down this week, but remained above 5 percent, Freddie Mac reported Thursday. The average rate on a 30-year fixed mortgage dipped to 5. (Fri, 30 Jan 2009 02:18:50 GMT)
Reality check: Govt seeks home loan data
Ahead of acting finance minister Pranab Mukherjee's meeting with public sector bank chiefs on Monday, the government has asked state-owned lenders to submit data on home loans sanctioned by them since December 15. (Fri, 30 Jan 2009 04:18:15 GMT)
Refinancing not always right decision
The chance to refinance a mortgage at a lower interest rate is sure to get a homeowner's attention. But it's not always the right decision. ... (Fri, 30 Jan 2009 05:25:03 GMT)
Glink: Is it ethical for mortgage borrowers to break locked-in loans?
A few weeks ago, I answered a question from a reader who was applying for a mortgage. (Fri, 30 Jan 2009 06:15:32 GMT)
Need more from your home loan? Here's help
To avail a top up loan, factors like your repayment capacity based on your income and commitment towards any other loans other than your home loan etc, will be factored in (Fri, 30 Jan 2009 07:33:15 GMT)
Instant View - Mortgage approvals show surprise rise in December
Lenders approved more home purchase loans than expected in December and mortgage lending rose more than three times faster than analysts predicted, Bank of England data showed on Friday. (Fri, 30 Jan 2009 09:55:00 GMT)
UK mortgage lending doubles in December
Mortgage lending more than doubled in Britain in December compared to the previous month but remained at very low levels due to the economic crisis, figures from the Bank of England showed Friday. (Fri, 30 Jan 2009 10:19:35 GMT)
Need more from your home loan? Here's help
To avail a top up loan, factors like your repayment capacity based on your income and commitment towards any other loans other than your home loan etc, will be factored in (Fri, 30 Jan 2009 10:48:14 GMT)
Pound Set for Record Monthly Gain Against Euro on Mortgage Data
Jan. 30 (Bloomberg) -- The pound climbed against the euro, set for a record monthly advance, after a government report showed U.K. mortgage approvals unexpectedly rose in December. (Fri, 30 Jan 2009 10:59:20 GMT)
Weigh taxes before prepaying mortgage
Knowing the after-tax return on your investments helps determine whether it makes sense to prepay the mortgage. (Fri, 30 Jan 2009 11:00:00 GMT)
U.K. Mortgage Approvals Stay Close to Decade-Low (Update2)
Jan. 30 (Bloomberg) -- U.K. mortgage approvals stayed close to the lowest level since at least 1999 in December as banks rationed lending, deepening the property market slump. (Fri, 30 Jan 2009 11:07:40 GMT)
Small rise in mortgage approvals
New mortgage approvals for home buyers rose a touch last month, according to the latest Bank of England figures, although they were still the second lowest on record. (Fri, 30 Jan 2009 12:32:00 GMT)
Mortgage approvals edge up from record low
Mortgage lending rose three times faster than expected in December after approvals edged up from November's record low, but economists said Friday's data did not herald a housing market turn-around. (Fri, 30 Jan 2009 12:33:00 GMT)
Refinancing doesn't cut all costs
The average interest rate for a 30-year mortgage dipped below 5 percent recently, a level not seen since the Eisenhower administration. Not surprisingly, homeowners are scrambling to commemorate this historic event by refinancing their mortgages. (Fri, 30 Jan 2009 12:37:32 GMT)
Mortgage lending recovers from historic lows
Figures from the Central Bank show that residential mortgage lending recovered a little in December from historic lows seen the previous two months. Mortgages increased by €281m in December, leaving the average monthly increase for the year of just €676m. (Fri, 30 Jan 2009 12:47:03 GMT)
Capmark Arranges $3.4 Million to Refinance Hibiscus Mobile Home Community in Mount Dora, Florida
Capmark Finance Inc. (Capmark Finance) originated $3,400,000 in fixed-rate, permanent debt through its Fannie Mae DUS® program for the refinance of Hibiscus Mobile Home Community, an age-restricted "55-plus" manufactured home community in Mount Dora, Fla. (Fri, 30 Jan 2009 13:25:00 GMT)
The key to refinancing today is the equity you have
The key to refinancing today is the equity you have (Fri, 30 Jan 2009 15:00:35 GMT)
PBJ poll: Mortgage holiday needed
A majority of the responders to last week’s Business Pulse survey said Congress should adopt a one-year mortgage holiday. (Fri, 30 Jan 2009 18:23:00 GMT)
Wells Fargo, Other Lenders Tighten Government-Mortgage Rules
Jan. 30 (Bloomberg) -- Wells Fargo & Co ., the second-largest U.S. home lender, and Taylor, Bean & Whitaker Mortgage Corp., the biggest privately held mortgage company, are raising credit score requirements and other standards for government-insured loans. (Fri, 30 Jan 2009 19:45:20 GMT)
Feds allege plot to destroy Fannie Mae mortgage records
A fired Fannie Mae contract worker pleaded not guilty today to charges he planted a virus designed to destroy all the data on the mortgage giant's 4,000 computer servers nationwide, according to federal prosecutors. (Fri, 30 Jan 2009 20:08:05 GMT)
Home Builders Support Bank Share in GSEs' Loan-Buy Risk
Private-sector institutions that benefit from the government's secondary market support should share in the interest rate and credit risk with Fannie Mae and Freddie Mac, a National Association of Home Builders task force says. (Fri, 30 Jan 2009 20:55:17 GMT)
Does It Pay To Refinance?
Refinancing isn't always the best move. Here are some things to consider before you decide to redo your mortgage. (Fri, 30 Jan 2009 21:08:54 GMT)
As home equity declines, cash-out refinancing ebbs
U.S. homeowners took out $17.5 billion in home equity in the fourth quarter by refinancing their mortgages, the lowest amount since the first quarter of 2001, Freddie Mac said Friday. (Fri, 30 Jan 2009 21:23:52 GMT)
As home equity declines, cash-out refinancing ebbs
McLEAN, Va. -- U.S. homeowners took out $17.5 billion in home equity in the fourth quarter by refinancing their mortgages, the lowest amount since the first quarter of 2001, Freddie Mac said Friday. Sixty-two percent of all refinance loans in... (Fri, 30 Jan 2009 21:32:14 GMT)
Wells Fargo, Others Tighten Government-Mortgage Rules (Update1)
Jan. 30 (Bloomberg) -- Wells Fargo & Co ., the second-largest U.S. home lender, and Taylor, Bean & Whitaker Mortgage Corp., the biggest privately held mortgage company, are raising credit score requirements and other standards for government-insured loans. (Fri, 30 Jan 2009 22:14:46 GMT)
Wells Fargo, Others Tighten Government-Mortgage Rules (Update1)
Jan. 30 (Bloomberg) -- Wells Fargo & Co ., the second-largest U.S. home lender, and Taylor, Bean & Whitaker Mortgage Corp., the biggest privately held mortgage company, are raising credit score requirements and other standards for government-insured loans. (Fri, 30 Jan 2009 22:15:17 GMT)
Federal Home Loan Bank of San Francisco Releases December 2008 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced January 30, 2009, that the 11th District Monthly Weighted Average Cost of Funds Index for December 2008 is 2.757%. (Fri, 30 Jan 2009 23:06:00 GMT)
Database: Search Silicon Valley mortgage deliquencies by ZIP code
See how many homeowners in your Silicon Valley ZIP code are more than 90 days behind in making their mortgage payments. The searchable database shows deliquencies have soared in some neighborhoods in the last year. (Fri, 30 Jan 2009 23:26:32 GMT)
Many refinancing to free up cash each month
The mortgage market is going back to the drawing board, and that could mean more money in your pocket. (Fri, 30 Jan 2009 23:29:27 GMT)
How the credit crunch has affected UK mortgage lending
UK homeowners are increasingly struggling to keep up mortgage payments and most new mortgage mortgage business is going to refinance existing loans, data released by the Financial Services Authority in January shows. (Fri, 30 Jan 2009 23:44:22 GMT)
Low rates could help to cut mortgage debt
While the government wants us to spend, smart mortgage borrowers are using the interest rate cuts to overpay into their mortgages and reduce their debt. (Sat, 31 Jan 2009 00:14:21 GMT)
Is It In Your Best Interest?
On its face, deciding whether it's worth it to refinance your mortgage seems simple enough. (Sat, 31 Jan 2009 03:11:35 GMT)
Chattanooga: Mortgage refinancing booms
Some mortgage lenders say interest rates that have dropped to among the lowest in history are drawing homeowners to refinance their loans. (Sat, 31 Jan 2009 05:05:56 GMT)
John Streb joins Luxury Mortgage
Veteran broker part of retail division expansion MILFORD — Local resident John Streb has joined Stamford-based Luxury Mortgage Corp, a mortgage-banking firm that has been lending throughout the United States for over a decade. Streb is part of the company’s continued expansion of its retail division, adding 15 top producing loan officers to its existing staff of mortgage professionals. (Sat, 31 Jan 2009 07:45:25 GMT)
Database: Search San Francisco Bay Area mortgage delinquencies by ZIP code or county
See how many homeowners in your San Francisco Bay Area ZIP code are more than 90 days behind in making their mortgage payments. The searchable database shows delinquencies have soared in some neighborhoods in the last year. (Sat, 31 Jan 2009 07:53:09 GMT)
Refinancing spikes as interest rates drop to record lows
Many people are taking advantage of record low interest rates that have gotten as low as 4.75 percent. Mortgage companies and banks are seeing a spike, up to 50 percent in some cases, of people wanting to refinance their home loans to lock in these low rates. (Sat, 31 Jan 2009 08:08:45 GMT)
Mortgage lending levels double
MORTGAGE lending doubled in December but was still only a quarter of the level seen a year earlier. (Sat, 31 Jan 2009 08:18:21 GMT)
Arizona Firm's Loan Modification Program Offers Help To Struggling Homeowners
As more and more homeowners search for solutions to their housing problems, Arizona Loan Modification firm AdjustMyLoan.com offers an affordable loan modification program designed to lower their clients monthly mortgage payments. With NO UPFRONT FEE'S and a FREE LOAN MODIFICATION CONSULATION, AdjustMyLoan.com is stopping the Arizona foreclosure crisis one home at a time! (PRWeb Jan 31, 2009) ... (Sat, 31 Jan 2009 08:21:49 GMT)
Obama pledges mortgage help with new financial plan
U.S. President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again." (Sat, 31 Jan 2009 11:06:00 GMT)
Obama pledges mortgage help with new financial plan
President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again." (Sat, 31 Jan 2009 11:07:01 GMT)
Refinancing not always best choice
The chance to refinance a mortgage at a lower interest rate is sure to get a homeowner's attention. But it's not always the right decision. (Sat, 31 Jan 2009 11:13:02 GMT)
Cash-out refinancing ebbs
McLEAN, Va. (AP) -- U.S. homeowners took out $17.5 billion in home equity in the fourth quarter by refinancing their mortgages, the lowest amount since the first quarter of 2001, Freddie Mac said Friday. (Sat, 31 Jan 2009 12:02:24 GMT)
Obama pledges mortgage help with new financial plan
WASHINGTON (Reuters) - U.S. President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again." (Sat, 31 Jan 2009 12:34:18 GMT)
Obama pledges mortgage help
In his weekly radio address, the president said he will soon unveil a plan that will help lower mortgage costs and revive lending. (Sat, 31 Jan 2009 13:12:59 GMT)
SBI freezes home loan interest rate at 8 pc for one year
MUMBAI: Country's largest lender State Bank of India today announced freezing interest rates on new home loans at eight per cent for a period of one year. (Sat, 31 Jan 2009 13:25:12 GMT)
SBI freezes home loan interest rate for one year
MUMBAI: Country's largest lender State Bank of India on Saturday announced freezing interest rates on new home loans at eight per cent for a period of one year. (Sat, 31 Jan 2009 13:38:20 GMT)
When refinancing doesn’t work
As 30-year mortgages continue to hover around the 5 percent mark, interest in refinancing has remained high. (Sat, 31 Jan 2009 14:11:51 GMT)
Obama promises lower mortgage costs, new loans
President Barack Obama on Saturday promised to lower mortgage costs, offer job-creating loans for small businesses, get credit flowing and rein in free-spending executives as he readies a new road map for spending billions from the second installment of the financial rescue plan. The White House is deciding how to structure the remaining half of the $700 billion that Congress approved ... (Sat, 31 Jan 2009 14:57:00 GMT)
Obama promises lower mortgage costs, new loans
President Barack Obama on Saturday promised to lower mortgage costs, offer job-creating loans for small businesses, get credit flowing and rein in free-spending executives as he readies a new road map for spending billions from the second installment of the financial rescue plan. (Sat, 31 Jan 2009 15:22:55 GMT)
Martin Hawes : Take your focus off the mortgage
Conventional financial wisdom has long held that you should use any spare money - either lump sum or ongoing income - to pay off the mortgage. (Sat, 31 Jan 2009 15:26:18 GMT)
Obama promises lower mortgage costs
WASHINGTON — President Barack Obama today promised to lower mortgage costs, offer job-creating loans for small businesses, get credit flowing and rein in free-spending executives as he readies a new road map for spending billions from the second installment of the financial rescue plan. (Sat, 31 Jan 2009 16:18:00 GMT)
New Obama strategy could lower mortgage costs
The Obama administration will soon announce a new economic strategy that would lower mortgage costs and extend credit to small businesses, the President said in his weekly radio and Internet address on Saturday. (Sat, 31 Jan 2009 17:06:46 GMT)
SBI bonanza for home loan borrowers; 8% for one year
Mumbai, Jan. 31 State Bank of India, the country’s largest bank, has decided to pull out all stops to attract home loan and SME (small and medium enterprises) borrowers into its fold. (Sat, 31 Jan 2009 18:40:30 GMT)
SBI cuts home loan rates to 8%, other banks may follow
NEW DELHI: In a move that is likely to force other banks to bring down home loan rates, the State Bank of India on Saturday cut its floating home loan rate to 8% on all new loans, irrespective of the loan amount. The current rates range between 8.5% and 11%, depending on the loan amounts. (Sat, 31 Jan 2009 19:10:02 GMT)
SBI cuts home-loan rates
COMMENT ON THIS ! Your Views! State Bank of India (SBI) on Saturday slashed interest rates on new home loans to eight per cent. SBI is India’s largest bank and the rate cut is expected to result in all banks slashing home loan rates. (Sat, 31 Jan 2009 19:19:40 GMT)
Indian-American sentenced to 7 years in mortgage fraud case
Washington: An Indian-American known for his mega Bollywood shows in the U.S. has been sentenced to seven-year imprisonment in a $ 33 million mortgage fraud case. Vijay K. Taneja, 48, was found guilty by a Virginia Court of defrauding ... (Sat, 31 Jan 2009 19:31:57 GMT)
Obama pledges mortgage help with new plan
US President Barack Obama has promised to help reduce mortgage costs with a new plan to revive the financial system. (Sat, 31 Jan 2009 19:54:18 GMT)
SBI goes for the kill, cuts home loan rate to 8%
Happy days are here again for home buyers as the bank freezes the rate for a year. In a move that may trigger a rate war, State Bank of India (SBI) today said it would charge 8 per cent interest on new loans for home buyers and small and medium enterprises for a year. (Sat, 31 Jan 2009 21:03:40 GMT)
Stockholders sue NC mortgage insurance company
WINSTON-SALEM, N.C. — Stockholders are suing a mortgage insurance company claiming it violated federal securities law. (Sat, 31 Jan 2009 21:09:16 GMT)
SBI cuts home loan rates to 8%, other banks may follow
NEW DELHI: In a move that is likely to force other banks to bring down home loan rates, the State Bank of India on Saturday cut its floating home loan rate to 8% on all new loans, irrespective of the loan amount. The current rates range between 8.5% and 11%, depending on the loan amounts. (Sat, 31 Jan 2009 22:10:41 GMT)
Mortgage crisis spreads to more affluent areas of Silicon Valley
In almost every neighborhood in Santa Clara County, homeowners are increasingly falling behind on their mortgage payments — even in areas that were relatively untouched by the foreclosure crisis as recently as late 2007. Database: See deliquency rates for every Bay Area ZIP code (Sat, 31 Jan 2009 23:17:39 GMT)
Mike Garibaldi-Frick: Loosen Mortgage Lending Standards
It was announced today that Obama will soon reveal a new economic strategy that would lower mortgage costs. But, we also need more realistic qualifying... (Sat, 31 Jan 2009 23:38:56 GMT)
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