Mortgage News Mar 2009

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Obama plan to prevent foreclosures enables more homeowners to refinance
Borrowers who have made their payments on time but are saddled with high interest rates may be eligible to refinance, despite decreases in their property values. Though the final operational guidelines of the Obama administration's foreclosure-avoidance programs won't be released until Wednesday, key details have begun to surface on the extraordinary refinancing opportunities that will be ... (Sun, 01 Mar 2009 02:31:28 GMT)

Union Bank cuts new home loan rate
Public sector lender Union Bank of India today reduced interest rates on new home loans by 25 to 100 basis points. Similarly, interest rates for new car loans were reduced by 125 to 150 basis points. (Sun, 01 Mar 2009 05:02:22 GMT)

Key Bank mortgage group aims to double volume
SYRACUSE - KeyBank is making a major push to grow its residential mortgage business throughout the country, including in the Northeast and Central New York. (Sun, 01 Mar 2009 05:06:57 GMT)

Washington Mutual kept mortgage payments kept so low, loan balances ballooned
During the great American housing bubble, many mortgage loans were made with little attention to borrowers' ability to repay over the long term. (Sun, 01 Mar 2009 05:11:44 GMT)

Washington Mutual kept mortgage payments kept so low, loan balances ballooned
During the great American housing bubble, many mortgage loans were made with little attention to borrowers' ability to repay over the long term. (Sun, 01 Mar 2009 05:13:47 GMT)

Mortgage rates low, but fees increasing
Mortgage rates are low, but getting them is going to cost you. (Sun, 01 Mar 2009 06:21:33 GMT)

Turner breaks from GOP to support mortgage bill
WASHINGTON — U.S. Rep. Mike Turner is the lone Republican signed on to a controversial piece of legislation that would allow judges to reduce mortgage debt for borrowers who file for bankruptcy. (Sun, 01 Mar 2009 06:22:24 GMT)

Mortgage rates drop, as lender fees go up
Mortgage rates are low, but getting them is going to cost you. New rules by Freddie Mac and Fannie Mae are upping the fees for borrowers with less than perfect credit, those in the mortgage industry say. (Sun, 01 Mar 2009 06:37:52 GMT)

Mortgage rates drop, as lender fees go up
Mortgage rates are low, but getting them is going to cost you. New rules by Freddie Mac and Fannie Mae are upping the fees for borrowers with less than perfect credit, those in the mortgage industry say. (Sun, 01 Mar 2009 06:39:13 GMT)

Mortgage bargains a mirage
Brian Wickert, a mortgage banker in Butler, Wis., prides himself on screening applicants carefully. That's why he was stunned when a customer who sailed through four home loans tried to do a refinancing in January, only to be rejected by three national lenders. (Sun, 01 Mar 2009 07:55:48 GMT)

Crystal awards CDBG funding for home improvement loans, senior transportation
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Sun, 01 Mar 2009 08:11:17 GMT)

Equity loan isn't credit card debt
Q: A member of my family has a large unpaid balance on his credit card. When he spoke to someone about credit counseling, he was told that they couldn't help since it was a home equity loan. Can you advise why they won't work with a home equity loan? (Sun, 01 Mar 2009 08:35:28 GMT)

Broker use of e-mail may endanger mortgage data
Seldom is so much private financial information packaged so neatly as when you apply for a mortgage. Yet a recent survey suggests that not all lenders may be handling that material as carefully as they should. The survey, conducted late last year by Wolters... (Sun, 01 Mar 2009 08:43:37 GMT)

Mortgage rates rise as confidence falls
Rates on 30-year fixed mortgages rose slightly last week amid sagging consumer confidence and lower sale prices for existing homes, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage increased to 5.07 percent from 5.04 percent the... (Sun, 01 Mar 2009 08:44:47 GMT)

Equity loan isn't credit card debt
Q: A member of my family has a large unpaid balance on his credit card. When he spoke to someone about credit counseling, he was told that they couldn't help since it was a home equity loan. Can you advise why they won't work with a home equity loan? (Sun, 01 Mar 2009 08:53:12 GMT)

Mortgage companies holding insurance checks
GALVESTON — Hurricane Ike victims are complaining that mortgage lenders are delaying rebuilding efforts by holding onto insurance payments. (Sun, 01 Mar 2009 11:09:13 GMT)

Union Bank cuts new home loan rate
Public sector lender Union Bank of India today reduced interest rates on new home loans by 25 to 100 basis points. Similarly, interest rates for new car loans were reduced by 125 to 150 basis points. (Sun, 01 Mar 2009 11:33:14 GMT)

BLOG WATCH
4% solution "In the midst of the recent stimulus debate, an innovative Republican proposal emerged that would allow banks to refinance mortgage loans at fixed interest rates as low as 4%. But if you missed it, it's understandable. It was... (Sun, 01 Mar 2009 11:34:18 GMT)

LOWERING MORTGAGE RATES IS NOT THAT EASY
Dear John: Why can't the government lower mortgage rates for everyone to 2.5 percent? Not only would that help honest people, but it would also ease the payments of the "ignorant" mortgage holders. How about lowering or doing away with the payroll... (Sun, 01 Mar 2009 11:47:33 GMT)

Union Bank cuts new home loan rate
Public sector lender Union Bank of India today reduced interest rates on new home loans by 25 to 100 basis points. Similarly, interest rates for new car loans were reduced by 125 to 150 basis points. (Sun, 01 Mar 2009 12:03:29 GMT)

Time to buy? Low mortgage rates, prices makes this a great time for buyers who qualify
Low interest rates on mortgage loans have resulted in a lot of refinancing, which helps borrowers improve their cash flow and banks generate revenue to offset loan losses. (Northwest Arkansas Times) (Sun, 01 Mar 2009 13:35:14 GMT)

Obama plan will open opportunities for refinancing
(By Kenneth Harney) Though the final guidelines of the Obama administration's foreclosure-avoidance programs won't be released until Wednesday, key details are surfacing on the extraordinary refinancing opportunities available to an estimated 4-5 million homeowners whose mortgages are owned or guaranteed by Fannie Mae and Freddie Mac. Under the Obama plan, borrowers who have made their monthly ... (Sun, 01 Mar 2009 13:47:28 GMT)

>Joined Mortgage After Break UP
I split up with my ex 6 months ago. I said its over. He moved out quite soon after that. We have joined mortgage. We both put deposit down of £12 500 each. (Sun, 01 Mar 2009 17:47:44 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Sun, 01 Mar 2009 20:04:57 GMT)

Education loan worth Rs 26,000 cr given to students: PC
Tiruchirapalli, Mar 1(UNI) About 15 lakh students were given educational loan to tune of Rs 26,000 crore across the country, Union Home Minister P Chidambaram said. (Sun, 01 Mar 2009 22:19:40 GMT)

General Finance Mortgage Commentary (Amended)
Welcome to the second fortnightly General Finance Mortgage Commentary for 2009. We aim to keep you informed on developments at General Finance, Home Loans and the mortgage market in general. (Sun, 01 Mar 2009 23:31:10 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Mon, 02 Mar 2009 01:10:26 GMT)

Yorkshire Building Society reduces mortgage costs
UK-based Yorkshire Building Society has reduced the costs of its 60% and 75% loan-to-value mortgage range. (Mon, 02 Mar 2009 01:34:48 GMT)

Late mortgage payments hit record levels
Households are finding it harder to pay debts on time, with the number of subprime mortgage holders falling behind on payments at its highest ever. Standard & Poor’s, the credit rating agency, examined the performance of loans bundled into securities – bonds or notes – and sold to investors. (Mon, 02 Mar 2009 03:10:32 GMT)

Loans flow to surviving banks, mortgage firms
Low interest rates and vastly fewer competitors mean that the banks and mortgage companies that are still open are seeing a giant increase in mortgage lending and home loan refinance business. (Mon, 02 Mar 2009 05:05:02 GMT)

San Antonio lenders say jury still out on Obama’s housing plan
State and local banking officials say, at this point, they are uncertain how the mortgage refinancing and modification provisions in President Barack Obama’s recently unveiled housing program will affect homeowners in the state and in San Antonio. (Mon, 02 Mar 2009 05:06:12 GMT)

Obama mortgage plan divides Oregon lenders
While banking organizations welcome federal efforts to help troubled homeowners, some banks and mortgage lenders aren’t quite as accommodating. (Mon, 02 Mar 2009 05:09:19 GMT)

Jordan Mortgage Refinance Co. to lend JD5m to Capital Bank to refinance housing loans
Jordan Mortgage Refinance Co. to lend JD5m to Capital Bank to refinance housing loans (Mon, 02 Mar 2009 07:03:50 GMT)

Fighting Foreclosure
Mortgage Counselors will get more details this week on President Obama's plan to give stimulus money to help families facing foreclosure. The money is expected to reach between 7 and 9 million families struggling to make their payments. Based on preliminary information, counselors believe the program will help homeowners who want to refinance but have not been able to because of dropping ... (Mon, 02 Mar 2009 07:21:51 GMT)

Crystal awards CDBG funding for home improvement loans, senior transportation
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Mon, 02 Mar 2009 08:10:47 GMT)

Instant View - Mortgage approvals steady and PMI weaker 
British mortgage approvals for house purchase were steady on the month, while the rise in mortgage lending was much lower than expected, the Bank of England said on Monday. (Mon, 02 Mar 2009 09:46:00 GMT)

Instant View - Mortgage approvals steady 
Mortgage approvals for house purchase were steady on the month, while the rise in mortgage lending was much lower than expected, the Bank of England said on Monday. (Mon, 02 Mar 2009 10:00:00 GMT)

Mortgage lending growth weak as credit crunch bites
Mortgage lending rose by much less than expected in January and approvals for home loans held near a record low, in a sign that house prices may have much further to fall. (Mon, 02 Mar 2009 10:04:00 GMT)

Mortgage approvals levelling out
Mortgage approvals in January were steady at 31,000, according to the latest figures from the Bank of England. (Mon, 02 Mar 2009 10:07:22 GMT)

Punishing fraud in the mortgage-lending crisis
The FBI must make its way through 66,000 reports of potential bank fraud, a daunting task aided by a new regional task force that could yield successes like the Bellevue loan officer headed to prison for one of the largest home-mortgage scams in Western Washington. A timely solution in this region comes by way of a task force made up of local, state and federal investigators. (Mon, 02 Mar 2009 10:18:24 GMT)

Experts ponder threshold for mortgage help
Under its new mortgage-relief plan, the Obama administration is staking a claim that most homeowners facing foreclosure should be able to pay 31 percent of their gross income for a mortgage. (Mon, 02 Mar 2009 10:44:39 GMT)

Plan to limit mortgage deduction draws fire
Any effort to change the tax-deduction rules for mortgage interest, as President Obama has proposed in his budget, is guaranteed to bring the housing industry to its feet, shaking its fists. (Mon, 02 Mar 2009 11:00:28 GMT)

Mortgage Lending Dives By More Than 60%
Mortgage lending dived by more than 60% during January to just one 10th of its level 12 months ago, figures showed. (Mon, 02 Mar 2009 11:14:00 GMT)

Do-It-Yourself Loan Modification Tool Now Available for Distressed Homeowners with Launch of “LoanModDVD”
Millions of Americans today are seeing their American Dream go up in smoke as home values plummet and they suddenly find themselves upside-down on their mortgages. While many are forced to foreclose on their properties, others try to work with lenders to modify their loans. They quickly find that the loan modification process is complex and hard to navigate, so they often turn to high-priced ... (Mon, 02 Mar 2009 11:24:29 GMT)

Mortgage rescue plan gives local Realtors hope
President Obama's recently announced mortgage rescue plan, along with a sliver of good housing and foreclosure news in Marion County, is giving local Realtors and bankers a little hope about the distressed marketplace. (Mon, 02 Mar 2009 11:42:13 GMT)

More sub prime mortgage assets downgrades than ever before, says S&P
Rating agency Standard & Poor’s has witnessed a “clear deterioration” in the performance of U.K. nonconforming mortgage loans throughout 2008. ... (Mon, 02 Mar 2009 11:44:59 GMT)

Net mortgage lending down 60%
Net mortgage lending fell by over 60% in January to £690m, while total borrowing from individuals rose by the smallest amount on record, according to figures from the Bank of England. (Mon, 02 Mar 2009 12:44:00 GMT)

Federal Home Loan Bank Signs 63,000 Square Foot Lease At Piedmont's Chicago Aon Center
ATLANTA and CHICAGO, March 2, 2009 -- Piedmont Office Realty Trust announced today that Federal Home Loan Bank will relocate its Chicago-based employees from 111 E. Wacker to the 17th and 18th floors of neighbouring Aon Center. (Mon, 02 Mar 2009 13:00:00 GMT)

Home-Account launches mortgage-finding service
If you want to get out from under your mortgage, this service may help. For a fee. (Mon, 02 Mar 2009 13:06:17 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Mon, 02 Mar 2009 13:10:58 GMT)

Stimulus Bill Raises Loan Limit for Reverse Mortgages
The new economic stimulus bill signed into law by President Obama raises the HECM loan limits for reverse mortgages, which will expand the amount of home equity that seniors can either turn into retirement income or use to offset investment losses. (Mon, 02 Mar 2009 13:55:05 GMT)

British mortgage lending slumps in Jan
Mortgage lending across Britain fell 60 percent during January as deep interest rate cuts failed to kick start the country's stagnant housing market, according to official data released Monday. (Mon, 02 Mar 2009 14:17:54 GMT)

CEO of mortgage giant Freddie Mac resigns
WASHINGTON (AP) — Mortgage giant Freddie Mac says Chief Executive David Moffett is resigning. (Mon, 02 Mar 2009 14:59:02 GMT)

Moffett resigning as chief executive of mortgage giant Freddie Mac
WASHINGTON - The top executive of Freddie Mac is quitting after less than six months on the job as the company continues to hemorrhage from mortgage losses and plans to ask the government for up to $35 billion in additional aid. (Mon, 02 Mar 2009 15:05:58 GMT)

Head of US mortgage giant Freddie Mac quits
The embattled US mortgage finance giant Freddie Mac, put under government control in September to avoid collapse, said Monday its chief executive will step down this month. (Mon, 02 Mar 2009 15:15:43 GMT)

Watch Out For Mortgage Scams
The Tennessee Division of Consumer Affairs is warning homeowners to watch out for mortgage scams. (Mon, 02 Mar 2009 16:46:11 GMT)

Washington Post Magazine: Talk to Me
As callers to a hotline plead for help to keep their homes, a former mortgage loan officer-turned-credit counselor listens, and understands. (Mon, 02 Mar 2009 17:00:00 GMT)

Rural Development home loan rates drop
Effective March 1, the interest rate on USDA Rural Development home loans has been reduced to 4 percent. Home prices are at the lowest level in years. Low prices and the rate decrease make this an excellent time for eligible families to purchase a home in rural areas through the USDA Rural Development program, said Randy Griffith, director of Single Family Housing Programs for USDA Rural ... (Mon, 02 Mar 2009 17:47:11 GMT)

Mortgage fraudster pleads guity
DELAWARE, Ohio -- An Upper Arlington man charged last year in a multimillion-dollar mortgage-fraud scheme pleaded guilty today, Delaware County Prosecutor Dave Yost said in a news release. (Mon, 02 Mar 2009 17:54:26 GMT)

East Coast storm postpones House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led U.S. House of Representatives to push back its schedule, including a possible vote on Tuesday on a home mortgage bill. (Mon, 02 Mar 2009 19:21:11 GMT)

DEMO 09: Home-Account is Trying to Replace Your Mortgage Broker
To my mind the most intriguing launch at this morning's session of DEMO was Home-Account.com, which is aiming to demystify the mortgage process and make it easy to refinance your home without a mortgage broker. (Mon, 02 Mar 2009 19:27:00 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Mon, 02 Mar 2009 19:31:16 GMT)

DEMO 09: Home-Account is Trying to Replace Your Mortgage Broker
New Web service tries to match home owners with banks to make it easier to finance a home. (Mon, 02 Mar 2009 20:12:00 GMT)

IDBI Bank cuts home loan, deposit rates
On the heels of leading state-owned banks cutting their lending rates, IDBI Bank today slashed its home loan rates by up to one per cent for new customers effective from tomorrow. (Mon, 02 Mar 2009 20:32:57 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Mon, 02 Mar 2009 21:11:22 GMT)

Treasurer McCord: Low-Interest Loan Program for Energy Efficient Home Improvements Saves PA Families Money
Treasurer Rob McCord today announced that the Pennsylvania Treasury Department will continue to make energy conservation and efficiency measures more affordable for households across the Commonwealth through the expansion of the Keystone Home Energy Loan Program, or Keystone HELP. (Mon, 02 Mar 2009 22:31:00 GMT)

Request for zoning changes on hold
The Maywood Plan Commission/Zoning Board of Appeals recommended a change to the 40-year-old village zoning code that would remove potential barriers in getting a loan or refinancing a mortgage on a house. (Tue, 03 Mar 2009 00:08:41 GMT)

MBIA Posts $1.16 Billion Loss on Mortgage-Bond Costs (Update1)
March 2 (Bloomberg) -- MBIA Inc. , the bond insurer that split its guarantee business in two, posted a fourth-quarter net loss of $1.16 billion amid mortgage-bond costs. (Tue, 03 Mar 2009 00:15:08 GMT)

Consumer Banking: Can't pay mortgage? Some modification offers hurt more than help
Your lender refuses to grant relief from your costly mortgage, and you’re desperate. Should you respond to any of the growing number of television ads, mailings or phone calls touting loan modifications? (Tue, 03 Mar 2009 00:17:38 GMT)

California Hsg Fin Agy's Mortgage Revenue Bond Outlook Revised To Negative On Deteriorating Real Estate Market
Standard & Poor's Ratings Services revised its outlook to negative from positive and affirmed its 'AA-' long-term rating on California Housing Finance Agency's (CalHFA) home mortgage revenue bond (HMR (Tue, 03 Mar 2009 01:04:15 GMT)

Two Fallen Mortgage Giants Are Unlikely to Be Restored
The mortgage giants not only are heavily indebted to the government, but they give lawmakers a tool to influence the policy market. (Tue, 03 Mar 2009 01:17:39 GMT)

Two fallen U.S. mortgage giants are unlikely to be restored
Fannie Mae and Freddie Mac not only are heavily indebted to the U.S. government, but they give lawmakers a tool to influence the policy market. (Tue, 03 Mar 2009 02:10:12 GMT)

Your home loan guide
Everything you need to know about your home loan, including repayments calculators, stamp duty estimators and savings plans. (Tue, 03 Mar 2009 02:15:22 GMT)

IDBI Bank cuts home loan, deposit rates
On the heels of leading state-owned banks cutting their lending rates, IDBI Bank today slashed its home loan rates by up to one per cent for new customers effective from tomorrow. (Tue, 03 Mar 2009 02:17:56 GMT)

Mortgage giants likely to remain in government hands
Despite assurances that the takeover of Fannie Mae and Freddie Mac would be temporary, the giant mortgage companies will most likely never fully return to private hands, lawmakers and company executives are beginning quietly to acknowledge. (Tue, 03 Mar 2009 03:23:19 GMT)

Home loan guide
Everything you need to know about your home loan, including repayments calculators, stamp duty estimators and savings plans. (Tue, 03 Mar 2009 03:45:12 GMT)

Home loan guide
Everything you need to know about your home loan, including repayments calculators, stamp duty estimators and savings plans. (Tue, 03 Mar 2009 03:48:10 GMT)

IDBI Bank cuts home loan, deposit rates
On the heels of leading state-owned banks cutting their lending rates, IDBI Bank today slashed its home loan rates by up to one per cent for new customers effective from tomorrow. (Tue, 03 Mar 2009 03:48:53 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Tue, 03 Mar 2009 04:41:34 GMT)

Still good time to buy home: lender
Home loan lender Resi Mortgage Corporation says it is a good time to consider buying property, despite the central bank deciding to keep interest rates unchanged on Tuesday. (Tue, 03 Mar 2009 04:54:59 GMT)

Mortgage delinquencies up for 8th straight quarter
The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. (Tue, 03 Mar 2009 05:01:53 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Tue, 03 Mar 2009 05:03:07 GMT)

Woman pleads in mortgage scheme
A Fayetteville woman could spend up to five years in prison after pleading guilty to her role in a mortgage fraud scheme. Terri J. Hart, 46, pleaded guilty to conspiracy to commit wire fraud in federal court Monday. (Tue, 03 Mar 2009 05:05:36 GMT)

Mortgage delinquencies up for 8th straight quarter
The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. (Tue, 03 Mar 2009 05:11:54 GMT)

Mortgage delinquencies up for 8th straight quarter
The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. The credit reporting agency said its database shows delinquencies _... (Tue, 03 Mar 2009 05:45:26 GMT)

Still good time to buy home: lender
HOME loan lender Resi Mortgage Corporation says it is a good time to consider buying property, despite the decision to keep interest rates unchanged on Tuesday. (Tue, 03 Mar 2009 06:38:00 GMT)

Mortgage giants likely to remain in government hands
Despite assurances that the takeover of Fannie Mae and Freddie Mac would be temporary, the giant mortgage companies will most likely never fully return to private hands, lawmakers and company executives are beginning quietly to acknowledge. (Tue, 03 Mar 2009 06:39:29 GMT)

Crystal awards CDBG funding for home improvement loans, senior transportation
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Tue, 03 Mar 2009 07:50:27 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Tue, 03 Mar 2009 08:11:07 GMT)

Fees building up costs to obtain lowest mortgage rates
New fees also being tacked on to home loans — Mortgage rates are low, but getting them is going to cost you. (Tue, 03 Mar 2009 08:18:49 GMT)

Connecticut man pleads guilty to mortgage fraud
A 63-year-old Shelton man has pleaded guilty to charges involving a mortgage fraud scheme. Federal prosecutors say William Athan pleaded guilty on Monday to charges stemming from his role in a $3.6 million scheme. (Tue, 03 Mar 2009 11:38:24 GMT)

Citigroup to Lower Some Mortgage Payments
Citigroup to lower mortgage payments for some homeowners that are out of work (Tue, 03 Mar 2009 11:56:24 GMT)

Citigroup to lower some mortgage payments
Struggling bank Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. The struggling bank makes the move as President Barack Obama... (Tue, 03 Mar 2009 12:14:25 GMT)

How Does a 4 Percent Mortgage Sound?
TV finance gurus suggest 4 percent mortgages for all but experts doubtful. (Tue, 03 Mar 2009 12:23:26 GMT)

Mortgage Delinquencies up for 8th Straight Quarter
TransUnion data shows mortgage delinquencies up in last 3 months of 2008 for 8th straight qtr (Tue, 03 Mar 2009 12:26:04 GMT)

Citigroup to lower some mortgage payments
Struggling bank Citigroup says it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. (Tue, 03 Mar 2009 12:35:30 GMT)

Citigroup to lower some mortgage payments
Struggling bank Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners for three months as part of a new program to help the unemployed. (Tue, 03 Mar 2009 12:50:41 GMT)

Citigroup to lower some mortgage payments
Struggling bank Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months in a program to help the jobless. (Tue, 03 Mar 2009 13:00:21 GMT)

Toyota seeks government loan
The world's top automaker applies for a $2.1 billion loan backed by the Japanese government to keep its finance arm competitive. (Tue, 03 Mar 2009 13:03:11 GMT)

Citigroup to lower some mortgage payments
Struggling bank Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. (Tue, 03 Mar 2009 13:05:00 GMT)

Getting lower mortgage rate is going to cost you
New costs also being tacked on to home loans Mortgage rates are low, but getting them is going to cost you. (Tue, 03 Mar 2009 13:29:22 GMT)

Citigroup to lower some mortgage payments
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. (Tue, 03 Mar 2009 14:16:01 GMT)

It can pay to buy a new home now
Thinking about buying new home in today's beaten-down real estate market? You could end up with as much as $18,000 in government tax credits stemming from proposals to jump-start the economy.    Luxury Orinda development walloped by loan default Real estate (Tue, 03 Mar 2009 14:25:18 GMT)

Mortgage delinquencies up for 8th straight quarter
The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. The credit reporting agency said its database shows delinquencies — or the percentage of mortgage holders at least 60 days behind on [...] (Tue, 03 Mar 2009 15:11:30 GMT)

At-Home MLM, Loan and Insurance Officers and Other Homesourcers May Double in 2009
B2B salespeople show increased interest in at-home Virtual Call Centers, according to CallFire.com, a hosted Virtual Call Center and Voice API provider. (Tue, 03 Mar 2009 16:00:00 GMT)

Treasury, Fed launch loan program, eye expansion
The U.S. Federal Reserve and Treasury on Tuesday extended a new securities loan program to include equipment and vehicle fleet leases and said a future expansion to $1 trillion may also include some of the riskier mortgage and debt securities now plaguing banks. (Tue, 03 Mar 2009 16:36:56 GMT)

Citigroup Cuts Mortgage Payments for Jobless
Citigroup announced a new plan Tuesday that gives the recently unemployed temporary relief on their mortgage payments. (Tue, 03 Mar 2009 17:15:52 GMT)

Citi offers $500 mortgage to some unemployed
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. The struggling bank makes the move as President Barack Obama looks to lenders to adjust the way loans are handled. (Tue, 03 Mar 2009 17:59:22 GMT)

Connecticut man pleads guilty to mortgage fraud
A 63-year-old Shelton, Conn., man has pleaded guilty to charges involving a mortgage fraud scheme. Federal prosecutors say William Athan pleaded guilty on Monday to charges stemming from his role in a $3.6 million scheme. (Tue, 03 Mar 2009 18:28:55 GMT)

Canada mortgage sector in cyclical downturn: Harper
Canada's mortgage sector is in a cyclical downturn, but is not facing the same kinds of problems as its counterpart in the United States, Prime Minister Stephen Harper said on Tuesday. (Tue, 03 Mar 2009 19:43:24 GMT)

Cram-Down Mortgage Measure Compromise Being Reached, Hoyer Says
March 3 (Bloomberg) -- Mortgage “cram-down” legislation that stalled last week is being changed to require that homeowners exhaust all other options before they could use bankruptcy to reduce their loan payments, House Majority Leader Steny Hoyer said. (Tue, 03 Mar 2009 20:11:46 GMT)

Obama to test home loan do-overs
Mortgage modifications have a bad rap, yet President Obama is depending on them to stop the foreclosure crisis. (Tue, 03 Mar 2009 20:18:01 GMT)

Cram-Down Mortgage Bill Compromise Likely, Hoyer Says (Update1)
March 3 (Bloomberg) -- Mortgage “cram-down” legislation that stalled in Congress last week will likely be changed to add requirements for homeowners to exhaust all options before they could use bankruptcy to reduce their loan payments, House Majority Leader Steny Hoyer said. (Tue, 03 Mar 2009 21:00:05 GMT)

Cram-Down Mortgage Bill Compromise Likely, Hoyer Says (Update1)
March 3 (Bloomberg) -- Mortgage “cram-down” legislation that stalled in Congress last week will likely be changed to add requirements for homeowners to exhaust all options before they could use bankruptcy to reduce their loan payments, House Majority Leader Steny Hoyer said. (Tue, 03 Mar 2009 21:01:44 GMT)

FDIC Cheif: Thousands of Mortgage Fraud Cases Under Investigation
(Washington, DC) -- More than four-thousand cases of alleged mortgage fraud are under investigation by the Federal Deposit Insurance Corporation. (Tue, 03 Mar 2009 21:15:09 GMT)

Low rates jump-start refinance activity
The mortgage industry is still suffering the effects of the financial meltdown of last fall. (Tue, 03 Mar 2009 21:20:50 GMT)

Naples council may kill two loan programs for city employees
A program to help Naples employees improve their computer skills at home could be on the chopping block today. Naples City Council will be asked to repeal a program that helped city employees purchase personal computers and software for home use. The program is one of two employee loan programs that will be discussed during today’s meeting. The personal computer purchase plan was updated in ... (Tue, 03 Mar 2009 22:57:13 GMT)

At-Home MLM, Loan and Insurance Officers and Other Homesourcers May Double in 2009
B2B salespeople show increased interest in at-home Virtual Call Centers, according to CallFire.com, a hosted Virtual Call Center and Voice API provider. (PRWeb Mar 3, 2009) Read the full story at http://www.prweb.com/releases/20 (Tue, 03 Mar 2009 23:07:15 GMT)

Interest rate drop good time to shop for mortgage, loan
Joe Bell says it’s an incredible time to be in the market for a consumer loan or mortgage. The Bank of Canada cut its key short-term interest rate about as low as it can go Tuesday in an effort to spark recovery from a recession.[...] (Tue, 03 Mar 2009 23:12:15 GMT)

Citigroup to lower some mortgage payments
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. (Wed, 04 Mar 2009 00:03:50 GMT)

Refinancing Getting Harder for Some Homeowners in the Stateline
More and more home refinancing applications are getting denied as local home values plummet. (Wed, 04 Mar 2009 00:32:52 GMT)

Mortgage payments lateness surges
CHICAGO (AP) - The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. (Wed, 04 Mar 2009 01:21:46 GMT)

Democrats to Temper Mortgage Relief Bill
House Democrats have reached an agreement to narrow the impact of legislation allowing bankruptcy judges to modify troubled mortgages. (Wed, 04 Mar 2009 02:51:13 GMT)

Woman sues after refinancing home 7 times in 3 years
SPOKANE - A Spokane woman is suing a mortgage company, claiming the company got her to refinance her home seven times over a three year period. Anne Tissue is 78-years-old and she's only been managing her own finances for about ten years. (Wed, 04 Mar 2009 02:54:59 GMT)

Mortgage Bill Language Undermines Protections, Critics Say
A quiet effort to pass legislation increasing protections for mortgage borrowers has provoked opposition from banking trade groups and members of Congress, who say the bill will have unintended consequences and that the idea deserves public debate. (Wed, 04 Mar 2009 03:35:40 GMT)

Mortgage companies holding insurance checks
GALVESTON — Hurricane Ike victims are complaining that mortgage lenders are delaying rebuilding efforts by holding onto insurance payments. (Wed, 04 Mar 2009 04:24:12 GMT)

Foreclosures drove up 2008 U.S. home sales: index
Foreclosures drove U.S. home sales up 7 percent in 2008 after a 40 percent plunge the prior year, with eligible buyers lured by deep discounts and low loan rates, according to real estate data company Radar Logic. (Wed, 04 Mar 2009 05:16:35 GMT)

Fees building up costs to obtain lowest mortgage rates
New fees also being tacked on to home loans — Mortgage rates are low, but getting them is going to cost you. (Wed, 04 Mar 2009 05:58:19 GMT)

Mortgage Delinquencies Up for 8th Straight Quarter
CHICAGO (AP) - The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period.... (Wed, 04 Mar 2009 06:12:07 GMT)

Thailand Outlook Channel
In an effort to help consumers during the economic crisis, the Islamic Bank of Thailand has launched a project to help pay off mortgage loans and refinance credit cards and personal loans, with the largest loans being up to 110 percent. (Wed, 04 Mar 2009 06:49:54 GMT)

Refinance mortgage at lower rates
With lower interest rates on home mortgages, it's possible that refinancing your loan could save you money each month. (Wed, 04 Mar 2009 07:50:22 GMT)

Crystal awards CDBG funding for home improvement loans, senior transportation
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Wed, 04 Mar 2009 07:51:38 GMT)

Citigroup drops mortgage payments to $500 to help unemployed
Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average o (Wed, 04 Mar 2009 08:09:23 GMT)

Citigroup to cut mortgage payments for some unemployed customers
Payments will fall to $500 for three months for borrowers who qualify under the lender's test program. Other banks may use it as a model. Citigroup Inc. on Tuesday promised to cut monthly mortgage payments temporarily to $500 for some homeowners who have been fired or laid off -- a test program bank officials say could become a model for other banks if it proves successful. (Wed, 04 Mar 2009 08:15:47 GMT)

Housing chief has £60,000 interest-free home loan
Whitehall's top mandarin for housing is receiving an interest-free home loan funded by the taxpayer, the Evening Standard can reveal. Peter Housden, the £195,000-a-year Permanent Secretary at the Department for Communities and Local Government , gets the perk on his £1.4million home in Blackheath which he bought seven years ago for £620,000. (Wed, 04 Mar 2009 10:03:53 GMT)

NEW CHARGE IN MORTGAGE PLOT
The alleged mastermind in a $10 million mortgage scam - in which convicts and jobless people were recruited from halfway houses as straw property buyers - has been charged in a new, $1 million investment scheme, authorities said. In this latest... (Wed, 04 Mar 2009 11:24:03 GMT)

Democrats reach deal on mortgage relief bill
For key moderate Democrats in the House, giving debt-strapped homeowners the right to seek mortgage modifications in bankruptcy court had to be a last resort. (Wed, 04 Mar 2009 12:03:02 GMT)

Mortgage applications fell 12.6% last week: MBA
The volume of mortgage applications filed in the last week of February drops a seasonally adjusted 12.6% compared with the week before, as interest rates charged on fixed-rate mortgages again nudge higher, Mortgage Bankers Association data show. (Wed, 04 Mar 2009 12:28:38 GMT)

U.S. MBA’s Mortgage Applications Index Fell 13% Last Week
March 4 (Bloomberg) -- Mortgage applications in the U.S. dropped last week as higher mortgage rates curbed refinancing and purchases. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan decreased 13 percent to 649.7 in the week ended Feb. 27 from 743.5 a week earlier. (Wed, 04 Mar 2009 12:29:45 GMT)

U.S. MBA’s Mortgage Applications Index Fell 13% Last Week
March 4 (Bloomberg) -- Mortgage applications in the U.S. dropped last week as higher mortgage rates curbed refinancing and purchases. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan decreased 13 percent to 649.7 in the week ended Feb. 27 from 743.5 a week earlier. (Wed, 04 Mar 2009 12:41:09 GMT)

U.S. mortgage demand off before Obama rescue details
NEW YORK (Reuters) - Applications for loans to buy U.S. homes and to refinance existing mortgages fell for the second straight week, the Mortgage Bankers Association said on Wednesday, as consumers awaited for specific details on President Barack Obama's housing stimulus plan. (Wed, 04 Mar 2009 12:56:31 GMT)

Bankers say many homeowners refinancing as rates drop
MAHOMET – Madeline Hoeft watched mortgage rates fall and saved more than $300 a month on her house payment by refinancing. "It pays to watch the market," said Hoeft, who bought a home at Mahomet's Lakes at Riverbend subdivision four years ago. (Wed, 04 Mar 2009 13:13:22 GMT)

Mortgage Applications Slump Over 12 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume slid over 12 percent last week, as refinance activity slumped over 15 percent and interest rates increased across the board. (Wed, 04 Mar 2009 13:48:10 GMT)

Democrats reach deal on mortgage relief bill
For key moderate Democrats in the House, giving debt-strapped homeowners the right to seek mortgage modifications in bankruptcy court had to be a last resort. (Wed, 04 Mar 2009 14:57:03 GMT)

Looking for a Mortgage? Check Out the F.H.A.?s Rules
A primer on how to qualify for a mortgage backed by the Federal Housing Administration. (Wed, 04 Mar 2009 15:58:41 GMT)

Federal Financial Regulatory Agencies Endorse "Making Home Affordable" Loan Modification Program
(RTTNews) - After details of the "Making Home Affordable" loan modification program were released earlier in the day Wednesday, federal financial regulatory agencies released a statement in support of the program. (Wed, 04 Mar 2009 16:19:50 GMT)

Eastern European home buyers face pain from foreign currency loan; banks face losses
KIEV, Ukraine - After Ukraine's currency collapsed in the global meltdown, so did Valery Ilyin's household finances — and, he fears, his family's dream of a bigger home. (Wed, 04 Mar 2009 17:21:07 GMT)

Obama's Home Loan Relief Plan Details Emerge
Called "Making Home Affordable," the program begins immediately, and is expected to save up to four million families from foreclosure. (Wed, 04 Mar 2009 18:50:54 GMT)

Mortgage applications fall as refinancing slips
Mortgage applications fell last week, as refinancing activity slowed. The Mortgage Bankers Association said Wednesday its weekly application index fell 12.6 percent for the week ended Feb. 27. (Wed, 04 Mar 2009 21:18:28 GMT)

Mortgage applications fall as refinancing slips
(AP:WASHINGTON) Mortgage applications fell last week, as refinancing activity slowed. (Wed, 04 Mar 2009 21:33:28 GMT)

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