Mortgage News Mar 2009

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O.C. lender getting back into home loan biz
Pacific Mercantile says timing is right to make home loans again. (Wed, 25 Mar 2009 14:24:57 GMT)

New Approach Needed for Mortgage Industry to Reach Struggling Homeowners Quickly
BEDFORD, Mass., March 25, 2009 -- The Obama Administration recently announced its Homeowner Affordability and Stability Plan, an $80 billion mortgage refinancing program. Since the plan was announced, mortgage lenders and loan servicers have been deluged with calls from distressed borrowers who are eager to understand whether they qualify to refinance or modify their existing loan. (Wed, 25 Mar 2009 14:48:15 GMT)

Making Your Way Through The Mortgage Market
The US mortgage market has taken a leap back in time. The flavor of the day is a 30-year fixed loan. Down payments are back in vogue. Good credit counts. Here's the information you need now to get a home loan. (Wed, 25 Mar 2009 15:18:54 GMT)

U.S. mortgage applications jump; rates at record low
U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday. (Wed, 25 Mar 2009 15:29:03 GMT)

Mortgage Rates Hit Record Lows, Refinancing Applications Jump
The Fed's moves have dragged rates down to 4.63 percent. (Wed, 25 Mar 2009 15:32:23 GMT)

More than a dozen arrested for mortgage fraud
FBI agents have made as many as 18 arrests today in connection with a mortgage fraud investigation, authorities said. Authorities are set to announce details of "Operation Madhouse" at a 3 p.m. press conference today at the Dirksen U.S. Courthouse. As many as 18 people had been arrested by noon, according to a spokeswoman for the U.S. attorney's office in Chicago. Among those charged in nine ... (Wed, 25 Mar 2009 16:33:39 GMT)

Refinancing drives big jump in mortgage applications
New Mortgage Bankers Association research shows that record low mortgage rates have spurred a big jump in new mortgage applications. (Wed, 25 Mar 2009 16:56:10 GMT)

Get the best refinancing deal
Mortgage rates are lower than 5% - but how can you get the best refinancing deal? (Wed, 25 Mar 2009 16:59:34 GMT)

Mortgage applications up on jump in refinancing
Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities. (Wed, 25 Mar 2009 17:32:14 GMT)

Md. Woman Pleads Guilty in Mortgage Fraud Scheme
A former exotic dancer accused of orchestrating a massive mortgage fraud scheme pleaded guilty in federal court in Greenbelt today, admitting that she played a central role in swindling desperate homeowners out of millions of dollars. (Wed, 25 Mar 2009 17:35:00 GMT)

Over 20 arrested in mortgage fraud investigation
Federal authorities swept the south suburbs this morning in a long-running mortgage fraud investigation that has resulted in the arrests of more than 20 people. (Wed, 25 Mar 2009 17:36:48 GMT)

Mortgage rates hit new lows
Mortgage rates not seen since the 1950s have sparked a tsunami of applications for refinancing as well as a slight uptick in new purchase loans, according to the latest weekly survey from the Mortgage Bankers Association. (Wed, 25 Mar 2009 17:56:44 GMT)

Mortgage applications up on jump in refinancing
Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities. The Mortgage Bankers Association said Wednesday its... (Wed, 25 Mar 2009 17:59:07 GMT)

YOUR MONEY: Does improvement of a refinance justify the cost?
Q: We have 24.5 years left on our 30-year fixed-rate mortgage. If we refinance, the monthly principal and interest would be about $10 less per month, but this would be on a 20-year, fixed-rate loan. (Wed, 25 Mar 2009 18:13:26 GMT)

Federal Home Loan Bank of Atlanta Declares No Dividend for Fourth Quarter 2008, Changes Future Dividend Guidance, ...
The Board of Directors of Federal Home Loan Bank of Atlanta has announced that the Bank will not pay a dividend for the fourth quarter of 2008. (Wed, 25 Mar 2009 18:53:00 GMT)

Repco Home cuts rate by 50 basis points
CHENNAI: Repco Home Finance, a subsidiary of Repco Bank, has decided to reduce home loan interest rates by 50 basis points with effect from April 1 for all existing clients who were sanctioned home loans before February, says a release. In ... (Wed, 25 Mar 2009 19:22:54 GMT)

Mortgage Refinance Boom May Aid Banks
Mortgage refinancings are expected to pick up this year, providing an incremental boost to banks still waiting for the housing market to rebound. (Wed, 25 Mar 2009 20:42:34 GMT)

Mortgage Rates
If you're looking to buy a home or refinance your mortgage, now may be the right time. Interest rates have dropped below five percent for many people wanting to make a move. (Wed, 25 Mar 2009 21:22:28 GMT)

24 arrested for mortgage fraud schemes
The undercover operation, in which law enforcement agents posed as home buyers seeking assistance in financing and closing fraudulent mortgages, yielded nine indictments, each one stemming from a fraudulent mortgage on a property in Chicago or surrounding suburbs. (Wed, 25 Mar 2009 23:31:46 GMT)

Mortgage applications up on jump in refinancing
Washington » Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities. (Thu, 26 Mar 2009 01:04:46 GMT)

Mortgage fraud cases swamp FBI
An explosion of mortgage fraud cases have stretched thin FBI resources for other white-collar investigations, according to bureau officials. (Thu, 26 Mar 2009 01:20:51 GMT)

DA: Ex-pol, dominatrix ran mortgage fraud scheme
A former Suffolk legislator, a Manhattan dominatrix and several other people were charged Wednesday in what Suffolk prosecutors said was a $50 million web of mortgage fraud that began in a Manhattan fetish club and ended with scores of pricey Southampton homes ownerless and in foreclosure. (Thu, 26 Mar 2009 01:32:42 GMT)

Chicago FBI makes arrests in mortgage fraud probe
FBI agents have made 24 arrests today in connection with a mortgage fraud investigation they dubbed "Operation Madhouse," authorities said. (Thu, 26 Mar 2009 02:25:51 GMT)

24 indicted in Chicago mortgage fraud case
CHICAGO, March 25 (UPI) -- Federal indictments handed up in Chicago accuse 24 people -- mostly mortgage loan industry professionals -- of fraud, prosecutors said Wednesday. (Thu, 26 Mar 2009 03:06:43 GMT)

Rahm Emanuel's profitable stint at mortgage giant
Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator. (Thu, 26 Mar 2009 03:25:57 GMT)

Rebound: Mortgage applications shoot up
Mortgage applications surged last week, coming mostly from borrowers wanting to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities. The Mortgage Bankers Association said yesterday that its weekly application index climbed 32.2 percent for the week ended March 20. The index came in at 1159.4, up from 876.9 a week earlier. (Thu, 26 Mar 2009 04:12:44 GMT)

Home loan and tax benefits
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it. Got a question for Harsh Roongta? (Thu, 26 Mar 2009 04:25:59 GMT)

Mortgage Applications Up on Jump in Refinancing
WASHINGTON (AP) - Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal R.... (Thu, 26 Mar 2009 05:15:56 GMT)

Mortgage fraud: 2 dozen arrested in federal sting
Undercover agents posed as buyers, sellers in Operation Madhouse Undercover operatives posing as buyers and sellers of suburban homes helped build a sweeping mortgage fraud case against brokers, appraisers, bankers, a loan officer and two attorneys, investigators said Wednesday. (Thu, 26 Mar 2009 05:25:52 GMT)

Low interest rates fuel mortgage-refinance applications
Mortgage applications surged last week, mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve disclosed plans to buy Treasury bonds and mortgage-backed securities. (Thu, 26 Mar 2009 07:13:00 GMT)

Mortgage applications rise as people look to refinance
WASHINGTON -- Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities. (Thu, 26 Mar 2009 07:15:12 GMT)

NEW: OâFallon offers seminar on home improvement loans
O’Fallon is offering a free seminar to help residents apply for the city’s Home Improvement Loan Program. The seminar is scheduled for 3 p.m. April 14 in the multipurpose room at City Hall. (Thu, 26 Mar 2009 07:15:31 GMT)

SoHo S&M club owners Donald MacPherson and Carrie Coakley tied to $50M mortgage ripoff
Mortgage scammers used dominatrixes and the owners of a renowned SoHo S&M parlor to pull off a $50 million fraud scheme involving dozens of properties in the Hamptons and the city. (Thu, 26 Mar 2009 09:23:54 GMT)

Rahm Emanuel's profitable stint at mortgage giant
Short Freddie Mac stay made him at least $320,000 Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator. (Thu, 26 Mar 2009 11:01:49 GMT)

Mortgage applications up as more refinance
Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities. (Thu, 26 Mar 2009 11:12:32 GMT)

How to qualify for a home loan
I’m 45 years old and a single mom with a 9-year-old son. We’ve been living with my parents for many years now and I think it’s about time I buy my own house. Am I too old to do this? I don’t have enough cash to buy a house so I will take out a housing loan. Do you think I will still be qualified given my age? (Thu, 26 Mar 2009 11:37:26 GMT)

DA says NY mortgage fraud had link to S&M club
Long Island prosecutors say a $50 million mortgage fraud scheme had ties to a sex fetish studio in Manhattan. (Thu, 26 Mar 2009 11:47:45 GMT)

Dominatrix Den Linked to $50M Mortgage Scam
Dominatrixes from a Manhattan S&M club were used to recruit people in a $50 million mortgage scam, police said. (Thu, 26 Mar 2009 12:03:57 GMT)

Leader of DC-area mortgage fraud pleads guilty
Federal prosecutors say 41-year-old Joy Jackson has pleaded guilty in a $35 million mortgage fraud scheme in the Washington area. (Thu, 26 Mar 2009 12:13:13 GMT)

DA says NY mortgage fraud had link to S&M club
Five people, including a former county legislator and a woman said to be a dominatrix, are facing charges they participated in a $50 million mortgage fraud scheme involving several dozen Hamptons properties over the past seven years. (Thu, 26 Mar 2009 14:01:46 GMT)

Motorists joins Federal Home Loan Bank
Motorists Mutual Insurance Co. has followed in the footsteps of other local insurers, joining the Federal Home Loan Bank of Cincinnati to access a quick pipeline to capital. (Thu, 26 Mar 2009 14:28:38 GMT)

U.S. Fixed Mortgage Rate Falls to Lowest on Record (Update2)
March 26 (Bloomberg) -- The U.S. 30-year fixed mortgage rate fell to 4.85 percent, the lowest on record, on a government plan to increase purchases of mortgage-backed bonds and buy as much as $300 billion of Treasuries. (Thu, 26 Mar 2009 15:23:30 GMT)

Mortgage rates hit new lows
Mortgage rates not seen since the 1950s have sparked a tsunami of applications for refinancing as well as a slight uptick in new purchase loans, according to the latest weekly survey from the Mortgage Bankers Association. (Thu, 26 Mar 2009 15:37:25 GMT)

U.S. mortgage rates drop to new low: Freddie Mac
U.S. mortgage rates fell to record lows again this week, feeding demand for refinancings, as a result of government efforts to reduce rates to levels that will help the hard-hit housing market begin to recover. (Thu, 26 Mar 2009 15:38:01 GMT)

Obama points to refinancing to help struggling homeowners get lower mortgage payments
WASHINGTON - As rates on 30-year mortgages fall to their lowest levels on record, President Barack Obama is pointing to refinancing as a lifeline for homeowners being stung by plunging home values. (Thu, 26 Mar 2009 16:15:30 GMT)

Ohio's Motorists Mutual Joins Federal Home Loan Bank
Motorists Mutual Insurance Company (Motorists) of Columbus, Ohio, reported it has been approved for membership at Federal Home Loan Bank of Cincinnati (FHLBank). With $1.2 billion in assets ... (Thu, 26 Mar 2009 16:26:15 GMT)

Mortgage rates at 52-year low
Home mortgage rates dropped to a 52-year low this week, according to a report released Thursday, in the wake of the government's announcement that it will buy more than $1 trillion in debt. (Thu, 26 Mar 2009 16:29:24 GMT)

Mortgage Rates Drop to Record Low
Freddie Mac survey says mortgage rates fall to lowest in 38 years after Fed aids market (Thu, 26 Mar 2009 16:59:01 GMT)

Mortgage Rates Set New Record Lows
Long-term mortgage rates fell to new all-time lows this week following a move by the Federal Reserve to buy up more than $1 trillion dollars in assets, according to Freddie Mac’s (FRE) weekly mortgage-rate survey released Thursday. (Thu, 26 Mar 2009 17:39:57 GMT)

Club owner guilty plea in mortgage fraud
A onetime secret owner in an exclusive Chicago nightclub has pleaded guilty to mortgage fraud schemes that defrauded banks out of as much as $1 million on loans to 28 Chicago area homes. Darrell Rodgers pleaded guilty Wednesday, the same day federal prosecutors announced charges against two dozen others in a sweeping mortgage fraud investigation that included undercover agents posing as crooked ... (Thu, 26 Mar 2009 17:41:30 GMT)

YOUR MONEY: Does improvement of a refinance justify the cost?
Q: We have 24.5 years left on our 30-year fixed-rate mortgage. If we refinance, the monthly principal and interest would be about $10 less per month, but this would be on a 20-year, fixed-rate loan. (Thu, 26 Mar 2009 17:43:26 GMT)

SBI goes ‘green’ with its home loans
Mumbai, March 26 State Bank of India has introduced a new home loan product that will make other banks go green with envy. (Thu, 26 Mar 2009 18:25:35 GMT)

Club owner pleads guilty in mortgage fraud
A onetime secret owner in an exclusive Chicago nightclub has pleaded guilty to mortgage fraud schemes that defrauded banks out of as much as $1 million on loans to 28 Chicago area homes. (Thu, 26 Mar 2009 18:38:45 GMT)

7 charged in Seattle $46M home loan fraud case
SEATTLE -- A grand jury has returned a 40-count indictment against seven people accused of running a mortgage fraud scheme in Seattle's suburbs. Those charged include the operators of Kobay Financial Corp., Nationwide Home Lending and Emerald City Escrow, all... (Thu, 26 Mar 2009 18:41:18 GMT)

Mortgage rates set record again
WASHINGTON, March 26 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages set a record low for the second consecutive week, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 26 Mar 2009 19:02:47 GMT)

7 charged in Wash. with $46M mortgage fraud scheme
A grand jury has returned a 40-count indictment against seven people accused of running a mortgage fraud scheme in Seattle's suburbs. (Thu, 26 Mar 2009 19:11:08 GMT)

Low rates spark mortgage activity
Homeowners are finding their way to the fax machine in a rush to refinance mortgages while interest rates are at historic lows, a U.S. bankers group said.The Mortgage Bankers Association said interest rates for 30-year fixed-rate mortgages fell to 4.63 percent in the week ending March 20, the lowest since they began tracking the figure in 1990, USA Today reported Thursday.In the week, ... (Thu, 26 Mar 2009 19:29:58 GMT)

U.S. Fixed Mortgage Rate Falls to Lowest on Record (Update2)
March 26 (Bloomberg) -- The U.S. 30-year fixed mortgage rate fell to 4.85 percent, the lowest on record, on a government plan to increase purchases of mortgage-backed bonds and buy as much as $300 billion of Treasuries. (Thu, 26 Mar 2009 20:29:58 GMT)

Mortgage rates hit record low, Silicon Valley refinancing applications surge
Most recent survey shows they hit 4.85 percent, the lowest since at least 1971. Local brokers report a surge in refinance applications.    Real estate news (Fri, 27 Mar 2009 01:34:45 GMT)

Mortgage rates hit historic lows; stocks rally again
Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Apart from that, stocks surged again Thursday, buoyed by strong reports from consumer products companies Best Buy, ConAgra and Dr Pepper Snapple. The Dow Jones industrials rose nearly 175 points. Mortgages The mortgage finance giant ... (Fri, 27 Mar 2009 02:33:53 GMT)

Federal Home Loan bank forgoes dividend
The Federal Home Loan Bank of Atlanta has announced it will not pay a dividend for the fourth quarter of 2008, a move designed to shore up the bank's capital reserves amid losses tied to mortgage-backed securities. The bank, a government-chartered cooperative owned by its member banks, typically returns up to 90 percent of its profits to its 1,200 members throughout the Southeast. The bank ... (Fri, 27 Mar 2009 03:00:51 GMT)

Remembering the 'good old' home loan days
There's an old country-western song called "In the Good Old Days, When Times Were Bad." I think about that refrain now, when the media tells us how hard it is to get a home loan as a result of the world financial collapse. (Fri, 27 Mar 2009 06:13:19 GMT)

7 indicted in state's biggest mortgage-fraud scheme
Federal agents say they have dismantled the largest mortgage-fraud conspiracy in state history by indicting seven people on charges they bilked banks and other financial institutions out of $48 million, pocketing more than $9 million to fund lavish lifestyles that included matching Lamborghini sports cars. (Fri, 27 Mar 2009 07:22:55 GMT)

Falling mortgage rates spur surge in Sacramento refinancing
Sacramento-area mortgage lenders reported high call volumes this week, as mortgage rates fell to their lowest levels since 1971, according to mortgage giant Freddie Mac. (Fri, 27 Mar 2009 07:35:41 GMT)

Mortgage delinquency creeps higher in commercial sector
Commercial real estate hasn't been as heavily besieged with mortgage delinquencies as the residential sector, but an upward trend shows it's something bankers are monitoring closely. (Fri, 27 Mar 2009 09:59:04 GMT)

Mortgage rate at record low
WASHINGTON - Rates on 30-year mortgages nationwide fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said yesterday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week from 4.98 percent last week. It was the lowest in the history of Freddie ... (Fri, 27 Mar 2009 10:07:14 GMT)

Average 30-year fixed mortgage rate hits record low 4.85%
Long-term mortgage rates set a record low this week, translating into hundreds of dollars in monthly savings for home buyers. (Fri, 27 Mar 2009 10:56:03 GMT)

Be wary of mortgage scam artists
As consumers hear about new ways to get loan modifications, they should avoid the old mortgage scams, too. (Fri, 27 Mar 2009 12:01:11 GMT)

Interest rates are falling -- should you refinance?
Should you refinance your mortgage to take advantage of falling interest rates? Here are some answers on interest rates and getting a new mortgage. Lots of people are talking about 4 percent, down from today’s 4.98 percent average. (Fri, 27 Mar 2009 14:10:35 GMT)

Mortgage withdrawal fee introduced
The Woolwich has introduced a new £150 fee for people who pull out of mortgage applications part way through the process. (Fri, 27 Mar 2009 15:05:32 GMT)

FBI Says Mortgage Fraud Cases Are Rising Rapidly
The FBI says it has seen its mortgage fraud cases balloon to more than 2000. FBI Director Robert Mueller told Congress on Wednesday, the thousands of financial fraud investigations now underway are putting a strain on the bureau's ability to fight other crimes. (Fri, 27 Mar 2009 16:05:13 GMT)

Employees see mortgage cover pulled
A large insurer has been accused of “outrageous” behaviour after cancelling mortgage insurance policies held by at least 70 customers as unemployment rises. (Fri, 27 Mar 2009 16:56:21 GMT)

Mortgage Originations May Double to $3.1 Trillion (Update1)
March 27 (Bloomberg) -- Mortgage originations may double to $3.1 trillion this year as historically low interest rates and looser financing standards at Fannie Mae and Freddie Mac lure more borrowers, Bank of America Corp. analysts said. (Fri, 27 Mar 2009 17:09:14 GMT)

Mortgage Originations May Double to $3.1 Trillion (Update2)
March 27 (Bloomberg) -- Mortgage originations may double to $3.1 trillion this year as historically low interest rates and looser financing standards at Fannie Mae and Freddie Mac lure more borrowers, Bank of America Corp. (Fri, 27 Mar 2009 18:28:12 GMT)

Mortgage Rates as ‘Good as It’s Going to Get,’ Koskinen Says
March 27 (Bloomberg) -- Mortgage rates are “probably as good as it’s going to get” and Americans thinking about buying a house should do so now, Freddie Mac interim-Chief Executive Officer John A. Koskinen said. (Fri, 27 Mar 2009 20:24:03 GMT)

Mortgage Rates Close to ‘Bottoming,’ Koskinen Says (Update1)
March 27 (Bloomberg) -- Mortgage rates are “probably as good as it’s going to get” and the housing market is likely to rebound sooner than some forecasts, Freddie Mac interim Chief Executive Officer John A. Koskinen said. (Fri, 27 Mar 2009 21:08:36 GMT)

Low mortgage rates encourage homeowners
Inquiries about refinancing loans up in Valley. (Fri, 27 Mar 2009 21:27:36 GMT)

AG Obtains Injunction Against Mortgage Company
Florida's Attorney has filed an injunction against a so-called mortgage "rescue" company in Miami that has allegedly charged thousands of dollars in illegal up-front fees to consumers looking for help to avoid foreclosure on their homes. (Fri, 27 Mar 2009 22:00:52 GMT)

Refinance Without An Appraisal
If you want to take advantage of historic low interest rates and don't have enough equity in your home to refinance, there may still be an option for you. (Fri, 27 Mar 2009 22:08:45 GMT)

Low 'teaser' mortgage rates entice, but beware
The low "teaser" mortgage rates are back. But should home buyers take advantage of them? At the height of the real estate boom, builders peddled adjustable-rate mortgages with low teaser rates as a way to reel in potential buyers struggling to afford a home. (Fri, 27 Mar 2009 23:04:24 GMT)

Couple charged with mortgage fraud
A Midvale couple was charged Friday with more than a dozen second-degree felonies for allegedly running a mortgage scheme. Utah Financial president Brendan Tyler Cassity, 36, and his wife, Olivia Cassity, 29, were each charged with 15 counts of communications fraud, one count of racketeering (Fri, 27 Mar 2009 23:33:27 GMT)

New Tax Laws Provide Incentives for Home Buyers
Did you buy a home last year? Are you planning to buy one now that interest rates are so low? Are you a first-time buyer? Did you buy in the District? (Sat, 28 Mar 2009 02:27:01 GMT)

Religion news: Woodlands Lutheran Church burns Ministry Center mortgage
Reports of fires are not usually good news, but Woodlands Lutheran Church and School in Montverde is celebrating a recent one — the burning of a mortgage. (Sat, 28 Mar 2009 02:40:14 GMT)

Midvale couple faces mortgage fraud charges
SALT LAKE CITY (ABC 4 News) - A Utah couple is facing serious mortgage fraud charges. Brendan and Olivia Cassity of Midvale are accused of running a lucrative mortgage fraud... (Sat, 28 Mar 2009 02:45:20 GMT)

New mortgage plans bring back old scams
1/83/8 As consumers hear about new ways to get loan modifications, they should avoid the old mortgage scams, too. Consumers should be wary of anyone who calls you out of the blue and offers some sort of rescue plan, according to Kathy Williams, a housing official in Oakland County, Mich. And she warned that more scam artists could be calling. (Sat, 28 Mar 2009 03:20:42 GMT)

Is now the time to refinance?
NEW ORLEANS - Home mortgage rates have tumbled to the kind of lows not seen in decades. New Orleans Lakeview homeowner Keith Durham hopes to refinance to take advantage of the lower mortgage rates. (Sat, 28 Mar 2009 04:10:10 GMT)

?Cashing Out? Is Now Harder
Getting a mortgage is hard enough in this market. Trying to get cash out through a mortgage refinancing may be even more difficult. (Sat, 28 Mar 2009 04:53:16 GMT)

Business briefs: 30-year mortgage has a steady week
SOUTHWEST FLORIDA -- The average rate for a conventional 30-year fixed mortgage on a owner-occupied, single-family home with 20 percent down and zero points on Friday afternoon was 5 percent, which is the same it has been all week, Sarasota's Sentinel Mortgage reported. Rates can vary considerably. The final rate that a borrower would pay may be... (Sat, 28 Mar 2009 05:10:17 GMT)

Low mortgage rates, affordable South Florida homes spur jump in buying, refinancing
New U.S. program to help 'underwater' owners refinance Falling home prices and the lowest mortgage interest rates in 57 years are powering up a boom in mortgage lending. (Sat, 28 Mar 2009 07:18:29 GMT)

OâFallon offers seminar on home improvement loans
O’Fallon is offering a free seminar to help residents apply for the city’s Home Improvement Loan Program. The seminar is scheduled for 3 p.m. April 14 in the multipurpose room at City Hall. (Sat, 28 Mar 2009 07:30:17 GMT)

Mortgage rates lowest since '50s
The benchmark 30-year fixed-rate mortgage fell 10 basis points, to 5.19 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Sat, 28 Mar 2009 10:05:17 GMT)

MORTGAGE RATES AT BOTTOM
Mortgage rates are "probably as good as it's going to get" and the housing market is likely to rebound sooner than some forecasts, Freddie Mac interim CEO John Koskinen said. "Mortgage rates, if they go down at all further, it's going to be... (Sat, 28 Mar 2009 10:29:32 GMT)

Pa.-based brokerage offers 'worry-free' mortgage
It’s become the trend from car companies and apartment complexes, trying to ease the troubled minds of consumers into making a big-ticket purchase. Now a Pittsburgh-based mortgage company is offering “income protection ” in case its borrowers lose their jobs. (Sat, 28 Mar 2009 14:10:10 GMT)

'NYT' Blog Finds Amazing Jim Cramer Clip: He Called Andrew Cuomo a 'Genuine Communist' in 2007 for Mortgage Crackdown
NEW YORK Somehow Jon Stewart missed this one. The New York Times' City Room has posted a YouTube video of CNBC host Jim Cramer calling New York's Attorney General Andrew Cuomo a "genuine Communist" for his early crackdown on mortgage abuses, including Fannie Mae and Fannie Mac problems. (Sat, 28 Mar 2009 14:23:00 GMT)

Home Remodeling Loan Program Expanded
Now 33 communities participate in low-interest loan program (Sat, 28 Mar 2009 15:55:21 GMT)

99-year sentence for mortgage fraud
CORSICANA – A Henderson County woman has been sentenced to 99 years in prison for her role in a mortgage fraud scheme. On Tuesday, a Navarro County jury found the defendant, Kandace Yancy Marriott, 52, of Gun Barrel City, guilty of engaging in organized criminal activity. (Sat, 28 Mar 2009 17:56:36 GMT)

Central States Mortgage to begin liquidation
Mortgage banker Central States Mortgage Co., which closed its doors March 9, has voluntarily filed for receivership and plans to liquidate its assets. (Sat, 28 Mar 2009 20:27:59 GMT)

How to pay the mortgage if you lose your job
FOR homeowners, it's not bricks and mortar that keeps the roof over your head- it's the MORTGAGE. (Sun, 29 Mar 2009 01:03:19 GMT)

Beware: Mortgage scams still out there
As consumers hear about new ways to get loan modifications, they should avoid the old mortgage scams, too. (Sun, 29 Mar 2009 04:13:26 GMT)

Freddie Mac loan contractor, Ocwen Financial, has spotty record
Last month, Freddie Mac introduced a pilot program designed to guide 5,000 homeowners with high-risk mortgages through the loan-modification process, but it outsourced the job to a subprime loan servicer with a history of customer dissatisfaction and run-ins with the federal government. (Sun, 29 Mar 2009 04:21:54 GMT)

Mortgage refinancing activity up in Fresno
Interest rates are nearing record lows, and more families are trying to refinance their loans. Read comments (Sun, 29 Mar 2009 05:09:06 GMT)

Coping in tough times: Can you change your mortgage?
Q: We have been asking for a loan modification for our mortgage. We're 60 days behind on the payments. My lender says it can't be done. Is that true? (Sun, 29 Mar 2009 05:48:08 GMT)

Refi offer tempts, but closing cost is the catch
Q: I'm trying to decide whether I should refinance my mortgage. I received a letter from my mortgage company and the illustration is very impressive. My monthly principal and interest payment would decrease to $303.76 from $522.94. (Sun, 29 Mar 2009 06:04:57 GMT)

Mortgage rates "close to bottoming out"
Mortgage rates are "probably as good as it's going to get" and the housing market is likely to rebound sooner than some forecasts, Freddie Mac interim chief executive John A. Koskinen says. (Sun, 29 Mar 2009 06:36:01 GMT)

99-year sentence for mortgage fraud
CORSICANA – A Henderson County woman has been sentenced to 99 years in prison for her role in a mortgage fraud scheme. On Tuesday, a Navarro County jury found the defendant, Kandace Yancy Marriott, 52, of Gun Barrel City, guilty of engaging in organized criminal activity. (Sun, 29 Mar 2009 06:42:27 GMT)

Extra cash could pay off mortgage
Q: I have some extra money, and my question is, should I pay down or pay off my mortgage? I have about $100,000 left on the mortgage. The rate is about 6.5 percent. (Sun, 29 Mar 2009 07:05:14 GMT)

Mortgage fraud reports jump 26% amid clampdown
The mortgage industry, applying much more scrutiny after a tidal wave of defaults, reported a record number of mortgage fraud incidents last year, with Rhode Island making its first appearance as the nation's top fraud hot spot. The number of mortgage fraud... (Sun, 29 Mar 2009 07:23:00 GMT)

TOM WALSH: Program could help thaw out mortgage lending
In a nation still struggling to break the grip of a credit crisis, no local housing market is more hamstrung by the lack of mortgage financing than the city of Detroit. (Sun, 29 Mar 2009 07:29:04 GMT)

OâFallon offers seminar on home improvement loans
O’Fallon is offering a free seminar to help residents apply for the city’s Home Improvement Loan Program. The seminar is scheduled for 3 p.m. April 14 in the multipurpose room at City Hall. (Sun, 29 Mar 2009 07:31:04 GMT)

Consumer Loan Rates
Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat. (Sun, 29 Mar 2009 08:04:18 GMT)

It may be time to refinance
Anyone with an interest rate higher than 7 percent, or possibly even 6 percent, on a home mortgage should start having serious conversations with their lender or another bank about refinancing the loan, local experts say. (Sun, 29 Mar 2009 08:41:09 GMT)

Pay mortgage, not credit card
Dear Debt Adviser: I recently received a diagnosis of kidney failure that keeps me from working like I could before. I ended up borrowing money from my credit cards to pay my mortgage, but I'm now behind on the loan. My credit-card issuers kept on calling, and finally I settled for a lesser amount than what I owe them. Is it OK to use money from my 401(k) to pay off debt? I would like to get rid ... (Sun, 29 Mar 2009 10:10:02 GMT)

Mortgage originations revised to $2.78T
The Mortgage Bankers Association has raised its 2009 estimate of mortgage originations by $800 billion to a new total of $2.78 trillion. (Sun, 29 Mar 2009 10:30:33 GMT)

Home Builders Awaiting A Spring Thaw
Michael Scarpa admits that the home construction business these days can't measure up to the frenetic pace of a few years ago, but he's got (Sun, 29 Mar 2009 11:35:19 GMT)

AmeriCU Mortgage Opens Operations Center in Milwaukee
AmeriCU Mortgage, a leading provider of mortgage services to credit unions nationwide, has established an operations center in Milwaukee. The center, located in the Fairview Building at 10425 North Avenue, is currently staffed by 13 employees who are experienced in providing credit union support services. AmeriCU also hired 27 mortgage professionals throughout the State of Wisconsin and is ... (Sun, 29 Mar 2009 16:03:00 GMT)

Homeowners Can Stop Foreclosure with Loan Modifications, Forensic Loan Audits and Negotiated Mortgage Terms with US ...
Like all business, there are good and bad loan modification companies. One of the good modification companies is US mortgage mod with headquarters located in Philadelphia, PA. Us mortgage mod, llc provides foreclosure prevention services in addition to loan work-outs that reduce monthly mortgage payments. This truly helpful mortgage mitigation company has lawyers on staff and in to help maximize ... (Sun, 29 Mar 2009 16:42:32 GMT)

On the House: Home-loan modifier was no help
The last 2 1/2 years have been lousy for Morissa P. Wiley of Souderton, a single mother with two children. As a trained nurse working for a hospice that couldn't guarantee her the same number of hours week to week, Wiley, 30, was receiving wildly fluctuating paychecks. Then, she was diagnosed with cervical cancer. (Sun, 29 Mar 2009 17:31:44 GMT)

MFIs offer home loans
With the lending rates falling, it's not just the urban home buyers who are benefiting. MFIs are now rolling out home loan products to the poor in rural India (Sun, 29 Mar 2009 19:27:35 GMT)

Beware of mortgage modification scams
Anyone struggling to pay a mortgage should not have to pay upfront fees to debt counselors, attorneys or others to negotiate a mortgage modification. (Sun, 29 Mar 2009 19:48:32 GMT)

Ask yourself these questions regarding a reverse mortgage
According to the AARP, the five following questions should be answered by the homeowner before considering a reverse mortgage: (Sun, 29 Mar 2009 19:53:34 GMT)

Home's improper land-use designation hampering mortgage refinance attempts
Q. I'm trying to refinance through FHA, but my property is listed as a condominium on the Miami-Dade Property Appraiser's website, even though it is a twin home. (Sun, 29 Mar 2009 20:03:33 GMT)

Resilient mortgage book at Widows
Scottish Widows Bank has succeeded in keeping mortgage arrears to a tenth of the UK average and has posted a jump in profit for last year in spite of the housing market downturn. (Sun, 29 Mar 2009 22:06:46 GMT)

Twitter got me a mortgage
A TWO-line Twitter post pushed my mortgage application from the Commonwealth Bank's "to do" list to an urgent priority. (Mon, 30 Mar 2009 01:50:00 GMT)

Mortgage Help
Massive mortgage help is on the way to Chicago and you may want to mark your calendar for this one. The people from a group called Neighborhood Housing Services of Chicago are going to take applications Saturday, May 2nd. Byron Harlan explains…   (Mon, 30 Mar 2009 03:41:07 GMT)

Profile of a Local Mortgage Meltdown Survivor
These days real estate speculators are about as popular with taxpayers as Wall Street executives. These are people who bought homes to rent or flip, and now want mortgage bailouts from the government. The Obama Administration says no way,' that it's only helping responsible' homeowners. But what does responsible' really mean? WYPR's Cathy Duchamp [do-SHAWM] explores that question in a profile of ... (Mon, 30 Mar 2009 04:05:11 GMT)

Bi-Lo files for bankruptcy after it can't repay loan
Bi-Lo, one of the biggest grocery-store chains in the Charleston region, sought bankruptcy protection after it was unable to refinance or repay a large loan that came due last week. (Mon, 30 Mar 2009 04:13:09 GMT)

Lower mortgage rates attract owners, not buyers
With 30-year fixed mortgage rates diving below 5 percent, local lenders have been swamped with new refinancing business. (Mon, 30 Mar 2009 04:34:35 GMT)

Decline in mortgage rates sparks refinancing boom
Keith Luedeman is starting to fill some empty desks. (Mon, 30 Mar 2009 04:36:37 GMT)

Lenders handle new boom in mortgage refinancings
Mortgage lenders say calls and applications are up substantially as rates have fallen to near-record lows. (Mon, 30 Mar 2009 04:37:27 GMT)

Four ways to handle being upside down on your home
Say you put 20 percent down on a $600,000 home that's now valued at $400,000. After a few years of payments, you're upside down by $60,000. Steve Bucci, Bankrate.com's "Debt Adviser," has these tips: (Mon, 30 Mar 2009 05:40:53 GMT)

First 'Solutions' forum at Sandusky State Theatre
SANDUSKY Who qualifies for refinancing? Is it possible to get out of an adjustable-rate mortgage? And what kind of incentives are available for a first-time homebuyer? (Mon, 30 Mar 2009 06:38:54 GMT)

OâFallon offers seminar on home improvement loans
O’Fallon is offering a free seminar to help residents apply for the city’s Home Improvement Loan Program. The seminar is scheduled for 3 p.m. April 14 in the multipurpose room at City Hall. (Mon, 30 Mar 2009 08:01:27 GMT)

It may be time to refinance
Anyone with an interest rate higher than 7 percent, or possibly even 6 percent, on a home mortgage should start having serious conversations with their lender or another bank about refinancing the loan, local experts say. (Mon, 30 Mar 2009 08:42:48 GMT)

Gross mortgage lending at £1.2 billion in February
Gross mortgage lending by building societies stood at 1.214 billion pounds in February compared with 3.861 billion pounds a year earlier, industry figures showed on Monday. (Mon, 30 Mar 2009 08:55:00 GMT)

Surprise mortgage approvals jump
Mortgage approvals unexpectedly jump in February, while consumers repay debt at record levels. (Mon, 30 Mar 2009 09:02:22 GMT)

GOOD TIMING, HARD WORK, AND A LOAN
If spring is a time for blooming, Homescapes, Carmel is definitely in season. The home accents store, run by brothers Thompson and Beau Lange, is branching out with a home and garden shop in Carmel. (Mon, 30 Mar 2009 09:03:33 GMT)

Instant View - Mortgage approvals higher than expected 
Mortgage approvals for house purchase, were higher than expected in February and consumers made their biggest net repayment of debt since records began in 1993, the Bank of England said on Monday. (Mon, 30 Mar 2009 09:04:00 GMT)

U.K. Mortgage Approvals Rise After Rate Reductions (Update1)
March 30 (Bloomberg) -- U.K. mortgage approvals rose in February as the Bank of England lowered interest rates, a sign the housing slump may be reaching a bottom. (Mon, 30 Mar 2009 09:20:26 GMT)

Mortgage deduction savings exaggerated
For many homeowners, the mortgage interest deduction doesn't significantly reduce income taxes. (Mon, 30 Mar 2009 10:00:00 GMT)

Green mortgages save on loan
Make your home energy efficient and get a break on your mortgage at the same time. (Mon, 30 Mar 2009 10:00:00 GMT)

Mortgage approvals leap 19% as buyers return to the market
Mortgage approvals leap 19% as buyers return to the market (Mon, 30 Mar 2009 10:04:05 GMT)

UK Mortgage Approvals Rise In February
(RTTNews) - Mortgage approvals in the UK totaled 37,937 in February, up from 31,791 in the previous month, a report from the Bank of England showed Monday. Economists expected mortgage approvals to come in at 34,000. (Mon, 30 Mar 2009 10:26:56 GMT)

U.K. House-Price Declines Slow, Mortgage Approvals Increase
March 30 (Bloomberg) -- U.K. house prices fell at the slowest pace in 10 months during March and mortgage approvals rose to the highest since May, suggesting the housing slump may be reaching a bottom. (Mon, 30 Mar 2009 10:34:54 GMT)

Nigeria: Meltdown - PMI Boss Proffers Mortgage Option
A mortgage banker has counselled Nigerians to invest in the real estate sector as a way out of the current global financial meltdown which has started taking its toll on the nation's economy. (Mon, 30 Mar 2009 11:06:49 GMT)

Federal Home Loan Bank of Seattle Announces 2008 Financial Results
SEATTLE----Today, the Federal Home Loan Bank of Seattle filed its 2008 Form 10-K with the Securities and Exchange Commission, which included its audited financial results for the year ending December 31, 2008. (Mon, 30 Mar 2009 11:19:00 GMT)

Green mortgages save on energy, loan costs
One of the best tools for making your dream home more affordable while saving on the cost of power, heating and cooling is the energy-efficient, or "green," mortgage. (Mon, 30 Mar 2009 11:35:55 GMT)

Mortgage broker banned for fraud
The FSA has banned a Walthamstow-based mortgage adviser for blatently risky fraudulent mortgage applications. ... (Mon, 30 Mar 2009 11:59:54 GMT)

UK mortgage data hints at housing market floor
British mortgage lending grew almost twice as fast as expected in February, and the number of mortgage approvals rose to its highest level for nearly a year, in a tentative sign the housing market may be nearing a floor. (Mon, 30 Mar 2009 13:35:36 GMT)

Foreclosures spike - so do mortgage-help plans
Lenders have helped an increasing number of mortgage borrowers to get current on payments and stay in their homes, but the tide of foreclosures is still rising. (Mon, 30 Mar 2009 14:08:07 GMT)

Fannie, Freddie May Aid Mortgage Banks
Fannie Mae and Freddie Mac may take on a new role in the housing market by providing money to cash-strapped mortgage banks, according to a news report. (Mon, 30 Mar 2009 14:42:20 GMT)

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