Mortgage News Mar 2009

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Culp scheduled to be sentenced for mortgage scam
A former South Bend police officer is scheduled to appear in court today to be sentenced for a mortgage lending scam. (Fri, 13 Mar 2009 12:07:30 GMT)

Refinancing your house could save you money, now or in the future
If you're looking to save money in the long run or even increase your cash flow in the short term, refinancing your house could be a step in the right direction. (Sun, 15 Mar 2009 07:06:29 GMT)

Check out refinance programs for breaks on payments
"Sue" wants to lower her mortgage payments. She's wondering whether she can take advantage of the refinancing provisions of the new Homeowner Affordability and Stability Plan, which is aimed at Fannie Mae and Freddie Mac mortgages. (Mon, 16 Mar 2009 03:56:53 GMT)

Federal Home Loan Bank of Atlanta's Q4 earnings fall 39%
Federal Home Loan Bank of Atlanta has reported a net income of $74.6 million for the fourth quarter ended December 31, 2008, a 39.2% decrease from $122.7 for the fourth quarter ended December 31, 2007. (Mon, 16 Mar 2009 11:41:23 GMT)

LIC Housing cuts home loan rates
Leading mortgage financier LIC Housing Finance on Monday cut its home loan rates by 75 basis points for existing customers effective from April 1. (Mon, 16 Mar 2009 14:10:53 GMT)

LIC Housing slashes home loan rates by 0.75%
MUMBAI: Leading mortgage financer, LIC Housing Finance on Monday cut its home loan rates by 0.75 per cent for existing customers effective from April 1. (Mon, 16 Mar 2009 15:39:59 GMT)

LIC arm slashes home loan rates
Mumbai, March 16: LIC Housing Finance Ltd today reduced interest rates for existing home loan borrowers by 75 basis points. (Mon, 16 Mar 2009 22:00:34 GMT)

Confusion Plagues Those Looking For Mortgage Help
Mortgage lenders are getting flooded with calls from homeowners wondering if they can refinance or modify their mortgages under President Obama's new plan to stop foreclosures. Two weeks after details of the program were announced, there is still a lot of confusion about it. (Tue, 17 Mar 2009 03:30:45 GMT)

Mortgage Fraud Up As Credit Tightens
Mortgage fraud jumped by 26 percent last year even though fewer loans were issued nationwide, and Maryland ranked among the top five states with the most serious problems, according to an industry study released yesterday. (Tue, 17 Mar 2009 04:00:00 GMT)

Mortgage Loan Modification Now Cheaper and Easier Thanks to ModificationSoft.com
A new online service, ModificationSoft.com, is making it easier and more cost-effective for homeowners to modify their own mortgage loan. The unique do-it-yourself mortgage loan modification portal is designed to help homeowners lower their mortgage payment, save thousands of dollars over the life of their loan--and avoid foreclosure. (Tue, 17 Mar 2009 07:01:00 GMT)

Banks tightening restrictions for lending
Marion Township resident Richard Pybus said he didn't understand what the issue was when he tried refinancing the mortgage on his second home in West Branch through his local bank. (Tue, 17 Mar 2009 09:04:15 GMT)

Help available for struggling homeowners
The "Making Home Affordable" initiative put in place by President Barack Obama's administration the week of March 2 offers opportunities to some Americans whose homes are held by Fannie Mae and Freddie Mac to refinance or modify their monthly mortgage payments. (Tue, 17 Mar 2009 09:12:45 GMT)

LICHF cuts home loan rates by 75 bps
LIC Housing Finance (LICHF) has announced a reduction of 75 basis points in its home loan rates for existing customers across all maturities. “The incremental cost of funds have come down to around 8.25-8.75 per cent, as against over 11 per cent in October. (Tue, 17 Mar 2009 11:44:01 GMT)

DJ DGAP-Adhoc: Colonia Real Estate AG: Successfully refinancing northern German real estate portfolio
Colonia Real Estate AG / Contract 17.03.2009 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. (Tue, 17 Mar 2009 12:30:29 GMT)

Paying off mortgage yields aggravation
North Aurora couple doesn't get full credit for payment from GMAC Lynn Garner wasn't exactly thrilled with her GMAC mortgage. After sparring with the finance company for months over insurance issues, the North Aurora resident decided in January she had seen enough. (Tue, 17 Mar 2009 12:35:40 GMT)

17.03.2009 - DJ DGAP-Adhoc: Colonia Real Estate AG: Successfully refinancing northern German real estate portfolio
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. (Tue, 17 Mar 2009 13:04:48 GMT)

Mortgage Refinance Loan Specialist Residential Finance Corp. Chosen as Finalist in Corporate Caring Awards
COLUMBUS, Ohio----Residential Finance Corporation , a nationwide mortgage lender specializing in FHA refinance loans, was chosen as a finalist in Business First's 13th Annual Corporate Caring Awards. (Tue, 17 Mar 2009 14:55:00 GMT)

Not All Mortgage Investments are Toxic, Fund Manager Says
While the idea of a fund investing completely in mortgage-backed securities might at its surface come across as less than attractive, Ginnie Mae mortgage securities are a type of mortgage-related investment with an explicit government guarantee making them as safe as the U.S. Treasuries, Ballantine said. (Tue, 17 Mar 2009 16:05:42 GMT)

Top mortgage lender mulls bankruptcy
Thornburg Mortgage says it may file for Chapter 11 protection if it can't meet financial obligations. (Tue, 17 Mar 2009 16:06:04 GMT)

Terra Firma writes down EMI by half
Terra Firma Capital Partners is attempting to buy back about €6bn ($7.8bn) worth of outstanding mortgage-backed debt the UK buyout firm used to refinance its German residential property portfolio in 2006. The move follows a collapse in securitised bond prices that has provided issuers with opportunities to snap up debt at a discount. (Tue, 17 Mar 2009 16:39:36 GMT)

More homeless over mortgage debt
A growing number of people are made homeless through mortgage default or rent arrears, statistics have shown. (Tue, 17 Mar 2009 18:00:06 GMT)

Thornburg Mortgage may file Chapter 11 bankruptcy
Thornburg Mortgage Inc , a large and troubled provider of "jumbo" mortgage loans, on Tuesday said it may file for Chapter 11 bankruptcy protection. (Tue, 17 Mar 2009 18:12:52 GMT)

SBI draws pvt bank customers with home loan at 8% interest
Hyderabad, March 17 The special housing loan schemes launched recently by State Bank of India at 8 per cent interest rate have triggered migration of customers of some private banks to SBI. (Tue, 17 Mar 2009 18:53:41 GMT)

Preston Trail Village gets refinancing
Preston Trail Village gets refinancing (Tue, 17 Mar 2009 19:19:50 GMT)

Should you refinance?
With interest rates near or at record lows, many people are wondering if this is a good time to refinance. Our experts offer some guidance in helping you decide. (Tue, 17 Mar 2009 20:40:53 GMT)

Home Loan Affordability report from interest.co.nz
Home loan affordability steady at best level in 4 years, but trend improving The New Zealand Housing Affordability measure from interest.co.nz was largely unchanged in February as a small rise in the median house price offset the benefits of another fall in mortgage rates. (Tue, 17 Mar 2009 20:49:59 GMT)

To refinance or not to refinance
Home mortgage rates have dipped across the country. So is now a good time to take advantage of them and refinance? (Tue, 17 Mar 2009 21:05:49 GMT)

Home Loan Modification Can Be Free; Some Fee-Based Services Illegal
CHARLOTTE, N.C. -- Cancer is what pushed Clarissa Henderson into financial straits that threatened her mortgage. She's hardly alone in a time when foreclosures are at historic highs. So she was thrilled when a company called to offer loan modification, until she heard how much it would cost. (Tue, 17 Mar 2009 21:43:42 GMT)

Mortgage freeze for jobless
HOME owners who lose their jobs will be thrown a lifeline by the nation's biggest mortgage lender. (Tue, 17 Mar 2009 22:10:00 GMT)

Cox: Money to be disbursed to victims of deceptive mortgage loans
Attorney General Mike Cox announced today that $9.9 million from a 2008 Countrywide Financial settlement following a lawsuit over questionable loan practices will be disbursed to victims of deceptive mortgage loans, local governments and charities. (Tue, 17 Mar 2009 23:37:28 GMT)

Banks battle over home loan 'holiday'
RIVAL banks say there is nothing new in CBA's offer of home loan repayment "holidays" to customers who lose their jobs. (Tue, 17 Mar 2009 23:40:00 GMT)

Banks battle over home loan 'holiday'
RIVAL banks say there is nothing new in CBA's offer of home loan repayment "holidays" to customers who lose their jobs. (Tue, 17 Mar 2009 23:40:00 GMT)

Cities To Benefit From Obama's Housing Plan
In these 10 places, mortgage relief could be efficient economic stimulus. (Tue, 17 Mar 2009 23:44:48 GMT)

Mortgage lenders have cheap loans, but local borrowers are still scarce
Nationally, the financial industry is facing the uncertainty of tight credit markets, government bailouts, plummeting share prices and looming bankruptcies. Despite those problems, however, local mortgage lenders say loans are plentiful and relatively cheap — even if borrowers are scarce. (Tue, 17 Mar 2009 23:54:53 GMT)

New Mortgage Help Center Opens
Thousands of struggling homeowners may get the mortgage help they need now that one bank has set up help centers in the Bay Area and nationwide. (Wed, 18 Mar 2009 00:35:50 GMT)

Choice urges mortgage freeze caution
Consumer group Choice says customers need to be wary of the Commonwealth Bank's offer to defer mortgage payments. (Wed, 18 Mar 2009 02:28:27 GMT)

Devil in detail of CBA's mortgage freeze
A mortgage freeze for people in financial difficulty sounds good, but the deferred interest quickly adds up. (Wed, 18 Mar 2009 02:38:37 GMT)

Home loan bar set at an all-time high
Borrowers are having to jump through hoops when they apply for home loans, as banks and other mortgage providers continue to tighten their lending criteria. (Wed, 18 Mar 2009 04:05:22 GMT)

SDL considers refinancing bonds at lower interest rate
School District of Lancaster plans to take advantage of the recent drop in interest rates to save up to $600,000 by refinancing nearly $16 million in debt.The SDL board Tuesday approved a resolution enabling the administration to refinance two bonds when market conditions are favorable enough to sav... (Wed, 18 Mar 2009 05:14:03 GMT)

Mortgage fraud falls in Utah
Utah's dubious distinction as one of the top states for mortgage fraud is over, at least for the time being. (Wed, 18 Mar 2009 06:07:25 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, 18 Mar 2009 06:26:21 GMT)

1-year sentence for Dearborn appraiser in mortgage fraud
A 25-year-old Dearborn real estate appraiser was sentenced to a year in prison Tuesday in connection with his role in a multimillion-dollar mortgage fraud scheme. (Wed, 18 Mar 2009 07:31:01 GMT)

SUSAN TOMPOR: Mortgage scams still out there
As consumers hear about new ways to get loan modifications, they should avoid the old mortgage scams, too. (Wed, 18 Mar 2009 07:34:51 GMT)

How to pay off your home loan faster
Most people who have taken a home loan would love nothing more than not to have to put that EMI (equated monthly installment) in their bank every month. (Wed, 18 Mar 2009 07:54:32 GMT)

Mortgage fraud hits all-time high
Reported incidents of mortgage fraud in the U.S. are at an all-time high and increased by 26 percent from 2007 to 2008, the Mortgage Asset Research Institute reported Tuesday. (Wed, 18 Mar 2009 08:46:15 GMT)

Mortgage applications rose 21.2% last week: MBA
With homeowners keen to capitalize on attractive refinancing rates, the volume of mortgage applications filed for the week ended March 13 rises a seasonally adjusted 21.2% from the week before, Mortgage Bankers Association data show. A surge in refinancings also had paced applications activity in the week ended March 6. (Wed, 18 Mar 2009 11:02:59 GMT)

U.S. mortgage applications spike on refinance demand
U.S. mortgage applications surged in the latest week, driven by a spike in demand for refinancing as the average rate on 30-year fixed-rate home loans fell, the Mortgage Bankers Association said on Wednesday. (Wed, 18 Mar 2009 11:12:00 GMT)

U.S. mortgage applications spike on refinance demand
U.S. mortgage applications surged in the latest week, driven by a spike in demand for refinancing as the average rate on 30-year fixed-rate home loans fell, the Mortgage Bankers Association said on Wednesday. (Wed, 18 Mar 2009 11:12:31 GMT)

(AFX UK Focus) 2009-03-18 11:15 US mortgage applications spike on refinance demand
NEW YORK, March 18 (Reuters) - U.S. mortgage applications surged in the latest week, driven by a spike in demand for refinancing as the average rate on 30-year fixed-rate home loans fell, the Mortgage Bankers Association said on Wednesday. Refinancing applications jumped 30 percent in the week ended March 13 as the borrowing rate dipped 0.07 percentage point to 4.89 percent, tying the record low ... (Wed, 18 Mar 2009 11:40:10 GMT)

Real Deal: Lower Mortgage Rates
Are the current low mortgage rates too good to be true? Michelle Buckman has the answer. (Wed, 18 Mar 2009 11:53:04 GMT)

Thornburg Mortgage May File Chapter 11 Bankruptcy
Thornburg Mortgage , a large and troubled provider of “jumbo” mortgage loans, on Tuesday said it may file for Chapter 11 bankruptcy protection. (Wed, 18 Mar 2009 12:04:22 GMT)

U.S. MBA’s Mortgage Applications Index Increased 21% Last Week
March 18 (Bloomberg) -- Mortgage applications in the U.S. increased last week as lower borrowing costs led to a surge in refinancing. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan rose 21 percent to 876.9 in the week ended March 13, the highest in two months, from 723.4 the prior week. (Wed, 18 Mar 2009 12:12:25 GMT)

Mortgage Applications Jump Over 21 Percent In Latest Survey
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume rose over 21 percent last week, as refinance activity jumped nearly 30 percent. The move was facilitated by a drop in interest rates across the board, encouraging homeowners to refinance. (Wed, 18 Mar 2009 12:44:36 GMT)

Mortgage applications up as refinancing increases
Mortgage applications jumped last week, as low interest rates fueled refinancing activity. The Mortgage Bankers Association said Wednesday its weekly application index climbed 21.2 percent for the week ended March 13. (Wed, 18 Mar 2009 14:05:24 GMT)

Mortgage application volume jumps last week as refinancing activity climbs on lower rates
A trade industry survey shows mortgage applications jumped last week, as low interest rates fueled refinancing activity. (Wed, 18 Mar 2009 14:11:47 GMT)

Mortgage applications up as refinancing increases
(AP:WASHINGTON) Mortgage applications jumped last week, as low interest rates fueled refinancing activity. The Mortgage Bankers Association said Wednesday its weekly application index climbed 21.2 percent for the week ended March 13. The index came in at 876.9, up from 723.4 a week earlier. (Wed, 18 Mar 2009 14:13:07 GMT)

Mortgage Refinance Loan Specialist Residential Finance Corp. Chosen as Finalist in Corporate Caring Awards
Residential Finance Corporation (RFC) {http://www.residentialfinance.co a nationwide mortgage lender specializing in FHA refinance loans, was chosen as a finalist in Business First’s 13th Annual Corporate Caring Awards. (Wed, 18 Mar 2009 15:09:19 GMT)

Low rates lead to mortgage application, refinancing surge
WASHINGTON -- Mortgage applications jumped last week, as low interest rates fueled refinancing activity. The Mortgage Bankers Association said today its weekly application index climbed 21.2 percent for the week ended March 13. The index came in at 876.9, up... (Wed, 18 Mar 2009 15:53:39 GMT)

Mortgage Applications Spike on Refinance Demand
NEW YORK (Reuters) - Mortgage applications surged in the latest week, driven by a spike in demand for refinancing as the average rate on 30-year fixed-rate home loans fell, the Mortgage Bankers Association said on Wednesday. (Wed, 18 Mar 2009 16:23:52 GMT)

Mortgages: Fed has pushed mortgage rates lower, but 5% looks like bottom
The Federal Reserve’s efforts to lower mortgage rates, generally considered successful on Wall Street and in the central bank’s own corridors, may have hit a wall as a surge in refinancing has discouraged lenders from lowering rates even more. (Wed, 18 Mar 2009 16:33:33 GMT)

Mortgage applications up as refinancing increases
A trade industry survey shows mortgage applications jumped last week, as low interest rates fueled refinancing activity. (Wed, 18 Mar 2009 16:34:17 GMT)

U.S. MBA’s Mortgage Applications Index Increased 21% (Update1)
March 18 (Bloomberg) -- Mortgage applications in the U.S. increased last week as lower borrowing costs led to a surge in refinancing. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan rose 21 percent to 876.9 in the week ended March 13, the highest in two months, from 723.4 the prior week. (Wed, 18 Mar 2009 16:42:37 GMT)

Americans Refinance
As rates fall, mortgage applications rise, but few are for home purchases. (Wed, 18 Mar 2009 17:01:32 GMT)

U.S. mortgage applications spike on refinance demand
U.S. mortgage applications surged last week, driven by a spike in demand for refinancing as the average 30-year fixed-rate home loan rate fell, the Mortgage Bankers Association said on Wednesday. (Wed, 18 Mar 2009 17:08:26 GMT)

Mortgage applications up, refinancing increases
WASHINGTON - Mortgage applications jumped last week, as low interest rates fueled refinancing activity. (Wed, 18 Mar 2009 17:11:30 GMT)

(AFX UK Focus) 2009-03-18 17:20 UPDATE 1-US mortgage applications spike on refinance demand
By Lynn Adler (Wed, 18 Mar 2009 17:22:48 GMT)

EDE to sell $75 million in 1st mortgage bonds
Empire District Electric Co. said Wednesday it plans to sell $75 million of its first mortgage bonds in a public offering. (Wed, 18 Mar 2009 18:27:19 GMT)

U.S. Stocks Gain on Fed Plans to Buy Mortgage Bonds, Treasuries
March 18 (Bloomberg) -- U.S. stocks gained after the Federal Reserve said it will buy $750 billion in mortgage securities and $300 billion in longer-term Treasury bonds to help shore up the financial system. (Wed, 18 Mar 2009 18:42:31 GMT)

Home Builders Rise On Fed Mortgage Plan
Home Builders Rise On Fed Mortgage Plan (Wed, 18 Mar 2009 18:52:12 GMT)

Axis Bank to curtail personal loan portfolio
The home loan segment has not been largely impacted by the recession and has rather been witnessing a good growth. (Wed, 18 Mar 2009 18:56:23 GMT)

U.S. Stocks Gain on Fed Plans to Buy Mortgage Bonds, Treasuries
March 18 (Bloomberg) -- U.S. stocks gained as the Federal Reserve said it will buy as much as $750 billion in mortgage securities and $300 billion in longer-term government bonds to help shore up the financial system. Treasuries surged and the dollar weakened versus the euro. (Wed, 18 Mar 2009 18:57:34 GMT)

Mortgage Refinance Loan Specialist Residential Finance Corp. Chosen as Finalist in Corporate Caring Awards
Residential Finance Corporation (RFC) {http://www.residentialfinance.co a nationwide mortgage lender specializing in FHA refinance loans, was chosen as a finalist in Business First’s 13th Annual Corporate Caring Awards. (Wed, 18 Mar 2009 19:16:37 GMT)

U.S. Stocks Gain on Fed Plans to Buy Mortgage Bonds, Treasuries
March 18 (Bloomberg) -- U.S. stocks gained as the Federal Reserve said it will buy as much as $750 billion in mortgage securities and $300 billion in longer-term government bonds to help shore up the financial system. Treasuries surged, sending yields on 10-year notes down the most since 1962. (Wed, 18 Mar 2009 19:27:15 GMT)

US mortgage apps spike on refinancing
US mortgage applications surged last week, driven by a spike in demand for refinancing as the average 30-year fixed-rate home loan rate fell, the Mortgage Bankers Association said overnight. (Wed, 18 Mar 2009 19:40:17 GMT)

Mortgage rates likely to sink on Fed actions
If you've got a good job, solid credit and your home's value hasn't fallen dramatically, you're likely to benefit from the Fed's action to help drive mortgage rates to historic lows. (Wed, 18 Mar 2009 23:19:05 GMT)

Mortgage rates likely to sink on Fed actions
If you've got a good job, solid credit and your home's value hasn't fallen dramatically, you're likely to benefit from the Federal Reserve's extraordinary action Wednesday to help drive mortgage rates to historic lows and revive the U.S. housing market. (Wed, 18 Mar 2009 23:23:36 GMT)

Survey: Mortgage servicers back Obama plan
Mortgage servicers who handle more than three-fourths of the nation's home loans intend to participate in the Obama administration's mortgage-modification program, according to a survey by the nonprofit group Acorn. (Thu, 19 Mar 2009 00:31:07 GMT)

Stage set for mortgage refinancing
The Federal Reserve’s commitment to buy hundreds of billions of dollars of US Treasuries and mortgage securities on Wednesday set the stage for a wave of mortgage refinancing that could boost bank revenues and spur consumer spending, said analysts. (Thu, 19 Mar 2009 00:54:54 GMT)

Fed to Expand Mortgage Debt Program: UBS
(RTTNews) - Fed officials announced significant further expansion of the Fed balance sheet in the statement released after the FOMC meeting, including "$300 billion of longer-term Treasury securities over the next six months" and an expansion of the mortgage debt purchase program to $1.450 trillion in total ($1.25 trillion in agency MBS and $200 billion in direct agency debt) from the $600 ... (Thu, 19 Mar 2009 02:58:13 GMT)

DA Investigating Possible Home Loan Scam
Robert Morin is believed to have scammed at least 15 homeowners out of their payments, says the Bexar County District Attorney's Office. (Thu, 19 Mar 2009 02:59:42 GMT)

Home Refinancing Decision Takes Some Care
Mortgage broker Anita Padilla, president of Megastar Holdings in Cherry Creek, is plenty busy with home refinancing negotiations. Many Coloradans are trying to save money right now by refinancing their mortgages. Rates have slipped below 5 percent, which used to be unheard of. So, when is it a good time to refinance? (Thu, 19 Mar 2009 03:43:53 GMT)

LETTER: Set home loan interest at 4 percent
Set home loan interest at 4 percent (Thu, 19 Mar 2009 05:08:11 GMT)

Free Home Loan Modification Help
We showed what can happen when homeowners pay thousands up front to a loan modification company. Here's the kicker... you can get the exact same information for free! John Schwada has the video report. (Thu, 19 Mar 2009 06:31:29 GMT)

Bottlenecks remain in mortgage stream
The Federal Reserve's move to increase its purchases of mortgage- backed securities is expected to drive rates below 5 percent, but consumers wanting to refinance may have a tough time taking advantage of it, according to local mortgage lenders. (Thu, 19 Mar 2009 06:45:38 GMT)

Sacramento homebuyers rush to refinance at lower rates
Lower borrowing costs triggered a new spike in U.S. mortgage applications last week as borrowers including thousands in California and the Sacramento region rushed to refinance home loans. (Thu, 19 Mar 2009 07:12:04 GMT)

Mortgage lending slides further
The slump in mortgage lending continued in February, with lending down 60% on a year ago, the mortgage lenders' body says. (Thu, 19 Mar 2009 09:57:32 GMT)

Mortgage Lending Falls To Eight-Year Low
Gross mortgage lending fell to £9.9bn last month, the lowest monthly figure since February 2001, latest industry figures show. (Thu, 19 Mar 2009 10:18:00 GMT)

Mortgage lending down 60 pct year on year in Feb 
Gross mortgage lending fell 60 percent from a year ago in February to 9.9 billion pounds, the lowest since February 2001, the Council of Mortgage Lenders said on Thursday. (Thu, 19 Mar 2009 10:24:00 GMT)

UK mortgage lending hits 8-year low in February
Mortgage lending fell to the lowest level in eight years in February, typically the slowest month of the year for home loans, the Council of Mortgage Lenders said Thursday. (Thu, 19 Mar 2009 10:30:38 GMT)

Mortgage Rates May Fall to Lowest Since WWII on Fed Purchases
March 19 (Bloomberg) -- U.S. mortgage rates may fall to the lowest since World War II after the Federal Reserve announced plans to buy up to $300 billion of Treasuries and increase purchases of mortgage-backed bonds. (Thu, 19 Mar 2009 11:16:30 GMT)

U.K. Mortgage Lending Drops to Lowest Since 2001, CML Says
March 19 (Bloomberg) -- U.K. mortgage lending fell to an eight-year low in February as the financial crisis prompted banks to withhold funds from the property market, the Council of Mortgage Lenders said. (Thu, 19 Mar 2009 11:35:28 GMT)

Government helps homeowners refinance
If you're looking for a way to refinance your mortgage, you might want to consider a loan that's backed by the Federal Housing Administration or, if you're a U.S. military veteran, the U.S. Department of Veterans Affairs. (Thu, 19 Mar 2009 11:43:22 GMT)

Federal website offers mortgage aid information
Struggling homeowners who are confused about whether they qualify for help under the Obama administration's mortgage plan have a new website to turn to. A government website scheduled to launch overnight -- MakingHomeAffordable.gov -- is supposed to make it easy... (Thu, 19 Mar 2009 11:48:45 GMT)

Obama administration launches mortgage aid Website
The Obama administration on Thursday launched a new Website to provide information to home owners about its mortgage modification and refinancing programs. (Thu, 19 Mar 2009 13:50:37 GMT)

Mortgages: Average 30-year mortgage falls below 5% to near-record low
Rates on fixed-rate mortgages dropped to near record lows this week, with the 30-year fixed-rate mortgage making an encore appearance below 5%, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday. (Thu, 19 Mar 2009 14:47:59 GMT)

Mortgage Rates for 30-Year Fixed Loans Fall to 4.98 Percent
March 19 (Bloomberg) -- The average U.S. rate on a 30-year fixed mortgage fell this week as the Federal Reserve announced it would double purchases of mortgage debt as part of its effort to lower rates and lure homebuyers to the market. (Thu, 19 Mar 2009 14:57:30 GMT)

Obama administration launches mortgage aid Website
The Obama administration today launched a new Website to provide information to home owners about its mortgage modification and refinancing programs. (Thu, 19 Mar 2009 15:20:01 GMT)

Fed action sends mortgage rates below 5%
Less than a day after the Federal Reserve said it would double its purchases of mortgage debt, fixed rates on conforming 30-year mortgages fell well below 5 percent, and there's thought rates may stay there for a while. A check of local lenders' Web sites show rates ranging from 4.625 percent to 4.75 percent, not including points. (Thu, 19 Mar 2009 15:50:20 GMT)

Mortgage Modification Plan Needs Changes, TCW Tells Treasury
March 19 (Bloomberg) -- TCW Group Inc., the money manager overseeing more than $100 billion, has lobbied the Treasury Department to change the U.S. mortgage-modification plan to include better protections for bond investors and taxpayers, Chief Investment Officer Jeffrey Gundlach said. (Thu, 19 Mar 2009 15:59:32 GMT)

Fed Moves Hit Mortgage Rates, Oil Prices
Moves made by the Federal Reserve Wednesday effectively pump more than $1 trillion into the credit markets. The initial impact seems to be on mortgage rates and oil prices. (Thu, 19 Mar 2009 16:31:43 GMT)

U.S. mortgage rates fall in week
WASHINGTON, March 19 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell close to an all-time low in the week ending March 19, the Federal Home Loan Mortgage Corp. said. (Thu, 19 Mar 2009 17:02:43 GMT)

GE Capital Sees $558M In '09 Losses For U.K. Mortgage Unit
GE Capital Sees $558M In '09 Losses For U.K. Mortgage Unit (Thu, 19 Mar 2009 18:06:02 GMT)

Mortgage Rates May Fall to WWII Low on Fed Purchases (Update2)
March 19 (Bloomberg) -- U.S. mortgage rates may fall to the lowest since World War II on the Federal Reserve’s plan to buy up to $300 billion of Treasuries and increase purchases of mortgage-backed bonds. (Thu, 19 Mar 2009 19:38:29 GMT)

Fed move may drive home loan rates to post-war low
US mortgage rates may fall to the lowest since World War II on the Federal Reserve’s plan to buy up to $300 billion of Treasuries and increase purchases of mortgage-backed bonds. (Thu, 19 Mar 2009 20:10:53 GMT)

Buy A Home In 2009, Claim A Credit For 2008
Surprise: First-time home buyers can get the new $8,000 tax credit early. (Thu, 19 Mar 2009 20:24:49 GMT)

Does Canara Bank's new home loan scheme, make sense?
LIC Housing Finance continues to be the cheapest but the Canara Bank scheme is worth considering also, since it offers fixed interest rates for the first 5 years. (Thu, 19 Mar 2009 20:38:50 GMT)

Fed Balance Sheet Jumps to $2.1 Trillion on Mortgage Purchases
March 19 (Bloomberg) -- The size of the Federal Reserve’s balance sheet climbed 8.8 percent to $2.07 trillion in the past week as the central bank snapped up mortgage-backed securities in its campaign to lower U.S. home-loan rates. (Thu, 19 Mar 2009 21:00:33 GMT)

Mortgage rates are low. So are approval rates
Mortgage interest rates are already flirting with record lows and the Federal Reserve's move to buy up government debt will send those rates even lower. But it doesn't look like it will get any easier for borrowers - even those with good credit. (Thu, 19 Mar 2009 21:44:29 GMT)

Fed drives down mortgage rates; inflation may loom
Mortgage rates tumbled to historic lows Thursday after the Federal Reserve's sudden decision to print $1.2 trillion and pump it into the economy, a move that also triggered warning signs of inflation — a weaker dollar and the highest oil prices of the year. (Thu, 19 Mar 2009 22:22:45 GMT)

Fed drives down mortgage rates; inflation may loom
WASHINGTON -- Mortgage rates tumbled to historic lows Thursday after the Federal Reserve's sudden decision to print $1.2 trillion and pump it into the economy, a move that also triggered warning signs of inflation _ a weaker dollar and the highest oil prices of the year. (Thu, 19 Mar 2009 22:22:45 GMT)

Mortgage Rates Hit Record Low: Time to Refinance?
Thank Ben Bernanke for breaking the 5% mortgage-rate barrier. The Federal Reserve announced plans Wednesday to purchase up to $300 billion in Treasury securities over the next six months and an additional $750 billion of mortgage-backed securities through the end of the year. The 10-year Treasury, a benchmark for 30-year fixed mortgage rates, dropped 50 basis points on the news. In turn, rates ... (Thu, 19 Mar 2009 22:23:34 GMT)

TaxWatch: IRS audits of mortgage-interest deduction focus on large sums
Some readers of my previous column were alarmed to learn they may have attracted the attention of the IRS, which is ramping up audits of taxpayers who take too large a mortgage-interest deduction. (Thu, 19 Mar 2009 22:47:49 GMT)

Fed Drives Down Mortgage Rates; Inflation May Loom
Mortgage rates fall after Fed pumps out $1.2T, but dollar suffers and oil prices rise (Thu, 19 Mar 2009 23:13:31 GMT)

IRS Audits Of Mortgage-interest Deduction Focus On Large Sums
IRS Audits Of Mortgage-interest Deduction Focus On Large Sums (Thu, 19 Mar 2009 23:48:23 GMT)

Fed Buys $20 Billion of Mortgage Debt as Plan Grows (Update1)
March 19 (Bloomberg) -- The Federal Reserve bought a net $19.7 billion of Fannie Mae , Freddie Mac and Ginnie Mae mortgage bonds under a program aimed at pushing down home-loan rates that the central bank said yesterday it would expand. (Fri, 20 Mar 2009 00:29:34 GMT)

Interest Rates Prompt Homeowners To Refinance Mortgages
MADISON, Wis. -- Mortgage interest rates are tumbling after actions by the federal government, and that has homeowners scrambling to refinance. Refinancing has been on the rise for a while as interest rates have bounced up and down. (Fri, 20 Mar 2009 02:25:54 GMT)

AIG Unit Sues Countrywide for Misrepresenting Mortgage Loans
March 19 (Bloomberg) -- An American International Group Inc. unit sued Countrywide Financial Corp., accusing the mortgage lender of misrepresenting the underwriting standards of loans the company insured. (Fri, 20 Mar 2009 02:33:47 GMT)

Mortgage Rates May Fall to WWII Low on Fed Purchases (Update2)
March 19 (Bloomberg) -- U.S. mortgage rates may fall to the lowest since World War II on the Federal Reserve’s plan to buy up to $300 billion of Treasuries and increase purchases of mortgage-backed bonds. (Fri, 20 Mar 2009 02:44:56 GMT)

Refinance Fever
It is a two-headset day for mortgage banker Linda Davidson. She is crazy-busy fielding phone calls and walk-ins. All from people with the same question. "Should I refinance?" Davidson says the heavy traffic is due to yesterday's money-moving announcement by the Federal Reserve. It pledged to buy an additional 750- billion dollars in mortgage backed securities. Ensuring, Davidson says, that ... (Fri, 20 Mar 2009 02:57:08 GMT)

KWWL.com Extra: Making Home Affordable launches educational site
WATERLOO (KWWL) -- The government has a new program it claims will help 7-9 million Americans either refinance or modify their home loan. (Fri, 20 Mar 2009 03:01:55 GMT)

FTC to Draft New Curbs on Mortgage-Lending Abuse, Chairman Says
March 20 (Bloomberg) -- The U.S. Federal Trade Commission will use new authority to bar lending practices by mortgage brokers who have deceived and bilked borrowers, the agency’s chairman said. (Fri, 20 Mar 2009 04:01:00 GMT)

Local mortgage bankers field lots of calls
Mortgage rates tumble Local lenders see large increase in applications, calls after Fed’s action A day after the Federal Reserve announced a new stimulus plan for housing, local mortgage bankers said they could hardly keep up with calls from customers shopping for new mortgage loans or looking to refinance their mortgages. “We are seeing a big uptick in inquiries and applications,“ Alicia ... (Fri, 20 Mar 2009 04:23:30 GMT)

Fed move drives mortgage rates below 5%
Less than a day after the Federal Reserve said it would double its purchases of mortgage debt, fixed rates on conforming 30-year mortgages dropped as much as half a percentage point to well under 5 percent. (Fri, 20 Mar 2009 04:56:17 GMT)

Mortgage rates down to historic lows
Mortgage rates hit historic lows Thursday after the Federal Reserve decided to print $1.2 trillion and pump it into the economy, a move that also triggered warning signs of inflation - a weaker dollar and the highest oil prices of the year. The national... (Fri, 20 Mar 2009 07:30:37 GMT)

FTC to curb mortgage-lending abuse: report
The U.S. Federal Trade Commission (FTC) will use new authority to bar lending practices by mortgage brokers who have deceived borrowers, Bloomberg said, citing the FTC's chairman. (Fri, 20 Mar 2009 09:21:45 GMT)

White House launches Web site to help homeowners with mortgage payments, refinancing
WASHINGTON -- The Obama White House launched a new Web site, makinghomeaffordable.gov, to give homeowners a one-stop place to research options to reduce mortgage payments and prevent foreclosures. The new Web site offers free assistance to homeowners who may be in trouble -- or just want to take advantage of new programs to refinance at lower rates. It also helps find counselors to guide ... (Fri, 20 Mar 2009 09:38:17 GMT)

MORTGAGE RATES DROP
Mortgage rates fell to near-record lows yesterday, a day after the Fed said it would buy Treasury securities for the first time in more than four decades. The drop is expected to boost efforts to bring mortgage rates down to levels that will spur... (Fri, 20 Mar 2009 10:47:35 GMT)

Cox under scrutiny for giving $500K from mortgage settlement to parks
LANSING -- Michigan Attorney General Mike Cox is being questioned by Democrats for giving $500,000 from a settlement with mortgage lender Countrywide Financial Corp. to two Grand Rapids-area parks. (Fri, 20 Mar 2009 12:58:28 GMT)

Analysts: Mortgage rates near low point
WASHINGTON, March 20 (UPI) -- U.S. market analysts said historically low mortgage interest rates were unlikely to fall substantially further, in spite of federal intervention. (Fri, 20 Mar 2009 13:47:06 GMT)

Time to Buy a Home? Refinance?
Plenty of homes are now available due to the crumbling economy. And now, with a major flood of federal money, mortgage and refinance rates are tumbling. Mike Barz and Jan Jeffcoat this morning spoke with Paul Lueken with the Illinois Association of Mortgage Professionals. (Fri, 20 Mar 2009 13:56:19 GMT)

Government helps homeowners refinance
If you're looking for a way to refinance your mortgage, you might want to consider a loan that's backed by the Federal Housing Administration or, if you're a U.S. military veteran, the U.S. Department of Veterans Affairs. (Fri, 20 Mar 2009 15:31:40 GMT)

US Officials Warn Of Rising Mortgage Fraud
WASHINGTON -(Dow Jones)- Illegal property flipping, mortgage rescue scams and even mortgage-related identity theft are on the rise amid the current economic turmoil and collapse of the U.S. housing market, federal officials warned U.S. lawmakers Friday. (Fri, 20 Mar 2009 15:42:32 GMT)

Loan shark Paul Nicholson jailed for raping and blackmailing clients
A loan shark who raped, blackmailed and threatened his impoverished customers was jailed indefinitely today. (Fri, 20 Mar 2009 16:41:52 GMT)

Loan shark rapist jailed indefinitely
A loan shark who charged extortionate rates, used a baseball bat to enforce payments debts and demanded sexual favours from women debtors was jailed for an indefinite term on Friday. (Fri, 20 Mar 2009 17:26:00 GMT)

Loan shark who raped customer jailed indefinitely
Loan shark who raped an impoverished customer and forced thousands of pounds from vulnerable people jailed indefinitely. (Fri, 20 Mar 2009 17:47:22 GMT)

Delray title agent gets 8 years in prison for Broward mortgage fraud
A federal judge sentenced a South Florida title agent to eight years in prison today for his role in a multimillion-dollar mortgage fraud scheme in Broward County. (Fri, 20 Mar 2009 18:03:52 GMT)

New regulations will restrict mortgage loans
Plans to stabilise the UK banking sector could result in fewer mortgage deals for borrowers but improved rates for savers. (Fri, 20 Mar 2009 19:01:18 GMT)

Real Estate Weekly: First-time home buyers moved by tax credit -- if they know of it
The first-time home-buyer tax credit may be motivating some to take action and buy a home this spring, according to ZipRealty survey results released this week. Sixty-two percent of first-time buyers said that the $8,000 tax credit is giving them an incentive to buy in 2009. (Fri, 20 Mar 2009 19:47:54 GMT)

Crisis Prompts a Rush Back to the Mortgage Basics
Many borrowers have opted to spend far more than a third of their income on mortgage payments, a move that has led to an increase in foreclosures. (Fri, 20 Mar 2009 19:55:56 GMT)

Mortgage Rates At Lowest Levels Since 1960's
There's good news for potential homebuyers and those looking to refinance, mortgage rates are now at their lowest levels since the 1960's. This coming just one day after the Federal Reserve announced it would double its purchases of mortgage debt. (Fri, 20 Mar 2009 21:39:37 GMT)

The Next Mortgage Mess: Loan Servicing?
Claims of fraud in the subprime mortgage market illuminate a murky world. (Sat, 21 Mar 2009 00:24:47 GMT)

Interest Rates Low, Time Right For Refinancing Mortgage
Many homeowners looking to save some much-needed cash are looking to mortgage refinancing as an option. (Sat, 21 Mar 2009 00:52:46 GMT)

Mortgage Rates At Lowest Levels Since 1960's
There's good news for potential homebuyers and those looking to refinance, mortgage rates are now at their lowest levels since the 1960's. (Sat, 21 Mar 2009 03:09:37 GMT)

These Days, First-Time Home Buyers Are Primed to Cash In
In the nearly 16 years that I've been writing this column, I've never seen a better market in which to be a first-time home buyer. (Sat, 21 Mar 2009 04:00:00 GMT)

Bernanke Mortgage Rates Get 4% Handle First Time: Chart of Day
March 20 (Bloomberg) -- The lowest fixed mortgage rates on record may fall further after the Federal Reserve tripled its commitment to buy securities backed by conventional home loans. (Sat, 21 Mar 2009 04:14:25 GMT)

Mortgage rates hit record lows
People holding out for lower mortgage rates before buying or refinancing their homes were rewarded this week. The rate on a 30-year, fixed-rate mortgage fell below 5 percent to historic lows on the tails of the Federal Reserve's decision to funnel $1.2 trillion into the economy. The average rate for a 30-year fixed mortgage was 4.98 percent on Thursday, according to the latest information ... (Sat, 21 Mar 2009 04:41:51 GMT)

CalPERS home loans nearly tripled last year
A California Public Employees' Retirement System home-loan program nearly tripled in size from 2007 (Sat, 21 Mar 2009 07:12:43 GMT)

Loan shark rapist Paul Nicholson jailed indefinitely
A loan shark who raped an impoverished customer and threatened to petrol bomb a family was jailed indefinitely yesterday. (Sat, 21 Mar 2009 08:33:49 GMT)

When seeking mortgage, know what you can afford
You've heard that the housing market is definitely a buyer's market, but the question is, do you qualify for a mortgage? Sure, banks may have stricter lending rules, but it doesn't necessarily mean it's impossible to qualify for a mortgage. (Sat, 21 Mar 2009 08:46:32 GMT)

Walking away from a mortgage can make sense
In an economic environment like this one, the consequences of giving up on your mortgage may not be as painful as they were a few years ago. If you can't work things out with your lender, you probably won't be sued and you shouldn't receive a major tax bill either. (Sat, 21 Mar 2009 09:09:56 GMT)

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