Mortgage News Apr 2009

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Fixed Mortgage Rate in U.S. Rises to 4.87%, Freddie Mac Says
April 9 (Bloomberg) -- Fixed U.S. mortgage rates rose last week, ending a four-week streak of declines driven by Federal Reserve Chairman Ben Bernanke ’s plan to boost the housing market. (Thu, 09 Apr 2009 15:42:11 GMT)

Mortgage rates tick up from record lows
Rates on 30-year mortgages inched higher this week after two straight weeks of record lows, but still remained at attractive levels for borrowers looking to refinance their home loans. (Thu, 09 Apr 2009 16:01:54 GMT)

Obama Touts Benefits of Mortgage Refinancing
(RTTNews) - President Barack Obama Thursday met with several families who have recently refinanced their homes in an event designed to highlight the administration's efforts to address the housing crisis. (Thu, 09 Apr 2009 16:12:41 GMT)

Mortgage rates tick up from record lows
Rates on 30-year mortgages inched higher this week after two straight weeks of record lows, but still remained at attractive levels for borrowers looking to refinance their home loans. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-... (Thu, 09 Apr 2009 16:28:56 GMT)

Millions can reduce their mortgage payments, Obama says
As many as 9 million Americans can now take advantage of lower mortgage rates and save money by refinancing their home loans, President Barack Obama tells a housing-finance roundtable. (Thu, 09 Apr 2009 16:32:49 GMT)

Mortgage Rate in U.S. Rises to 4.87%, Freddie Says (Update1)
April 9 (Bloomberg) -- Fixed U.S. mortgage rates rose last week, ending a four-week streak of declines driven by Federal Reserve Chairman Ben S. Bernanke ’s plan to boost the housing market in part by buying mortgage-backed securities. (Thu, 09 Apr 2009 17:15:05 GMT)

Mortgage rates snap 4-week fall
Home mortgage rates were slightly higher this week, snapping a 4-week streak of declines, said a report released Thursday. (Thu, 09 Apr 2009 17:16:50 GMT)

Hornets say they will accept NBA loan
The Hornets have decided to take advantage of an NBA loan program despite having by far their best season at the ticket office ... (Thu, 09 Apr 2009 17:53:18 GMT)

Obama: 'Take Advantage' Of Low Mortgage Rates
Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of record low mortgage rates by refinancing their homes. (Thu, 09 Apr 2009 17:55:23 GMT)

Obama: Timing right for millions to refinance
Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Thu, 09 Apr 2009 18:34:06 GMT)

Obama highlights refinancing programs
Low interest rates and expanded eligibility combined to create extraordinary jumps in the rate of mortgage refinancings, U.S. President Barack Obama said.What you've seen now is rates are as low as they've been since 1971, Obama said Thursday after attending a round-table meeting on housing refinancing. Three-quarters of the American people get their mortgages through a Fannie Mae- (and) Freddie ... (Thu, 09 Apr 2009 18:43:44 GMT)

Obama: Timing right for home refinancing
Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Thu, 09 Apr 2009 19:37:41 GMT)

Obama says time is right for refinancing mortgages
WASHINGTON — Declaring “good news” in the midst of an economic meltdown, President Barack Obama today urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Thu, 09 Apr 2009 20:49:32 GMT)

Housing chief says refinancing program is working
Citing low mortgage rates and increases in refinancing numbers, U.S. Housing Secretary Shaun Donovan said yesterday that the two-month-old Making Home Affordable program was beginning to work. (Thu, 09 Apr 2009 22:31:05 GMT)

Crackdown on Home Loan Scams
The government has a new plan to combat the growing number of home loan scams. (Thu, 09 Apr 2009 22:46:10 GMT)

Lenders See Surge In Refinancing
Mortgage lenders said they're seeing a surge of refinancing as interest rates approach historic lows. (Thu, 09 Apr 2009 22:54:21 GMT)

Realty Q&A: Time to refinance? You've got to run the numbers
Question: I have a two-year-old, 15-year cash-out refi in Texas. It’s now considered a home equity loan, at 6.5%. I am thinking that it does not make sense for me to refinance again at 5% to save $170 per month because I would have to pay two additional years on the back end. (Fri, 10 Apr 2009 00:17:49 GMT)

Obama makes pitch for low mortgage rates
He is not a mortgage broker. But for a time today, President Obama seemed to be playing one on television, urging Americans not to miss out on rock-bottom refinancing rates. From his perch in the Roosevelt Room of the White House, the president donned his... (Fri, 10 Apr 2009 00:54:22 GMT)

Is Now the Time for You to Refinance?
Obama urges people to take advantage of low mortgage rates. (Fri, 10 Apr 2009 01:37:57 GMT)

Government ignites surge in mortgage refinancing
As refinancings rise, hardest-hit still await relief WASHINGTON — In an economic round table with homeowners, President Barack Obama said Thursday that the government's efforts to drive down interest rates have fueled a surge in mortgage refinancing—putting money into many homeowners' pockets during the current crisis. (Fri, 10 Apr 2009 03:13:01 GMT)

Homebuilder pleads guilty to role in mortgage fraud conspiracy
A homebuilder Thursday pleaded guilty in federal court to his role in a $12.6 million mortgage fraud conspiracy involving upscale homes in Raymore and Lees Summit. (Fri, 10 Apr 2009 03:19:14 GMT)

Obama says timing right for millions to refinance
Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. "We are at a time where people can really take advantage of this," Obama said, seated with a handful of homeowners who have already lowered their bills. (Fri, 10 Apr 2009 03:55:51 GMT)

Obama says timing right for millions to refinance
WASHINGTON -- Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. "We are at a time where people can really take advantage of this," Obama said, seated with... (Fri, 10 Apr 2009 03:55:51 GMT)

Obama Extols Impact of Lower Mortgage Rates
President Obama touted his administration's efforts to lower mortgage interest rates in a round-table discussion yesterday with Washington-area homeowners who have benefited from refinancing into more affordable loans. (Fri, 10 Apr 2009 04:00:00 GMT)

$3 billion surprise: Mortgage refinancing boosts bank for quarter
It's unclear whether Wells Fargo & Co. has experienced the worst of the financial meltdown. But a surge in mortgage refinancing during the first quarter had bank executives boldly expressing their confidence yesterday with projections of a record $3 billion in earnings. (Fri, 10 Apr 2009 04:16:09 GMT)

Wall Street jumps on mortgage resurgence
Mortgage lending is making a surprising comeback in the United States, thanks mainly to low interest rates and the disappearance of ''irrational'' lenders.Yesterday, Wells Fargo and Co. WFC-N stunned investors by saying it expects to report a record profit of $3-billion (U.S.) in the first quarter, owing to a surge in its mortgage business. The bank said it handled $190-billion worth of mortgage ... (Fri, 10 Apr 2009 07:04:34 GMT)

Mortgage Relief Options Already Available In NZ
This week the Australian Government announced that it had brokered a new deal with Australia's four largest banks to provide 'mortgage holidays' to borrowers who face financial hardship after losing their job. (Fri, 10 Apr 2009 09:32:00 GMT)

Wall Street jumps on mortgage resurgence
Mortgage lending is making a surprising comeback in the United States, thanks mainly to low interest rates and the disappearance of "irrational" lenders. (Fri, 10 Apr 2009 10:15:03 GMT)

Obama pushes refinancing
WASHINGTON(AP)--Declaring “good news” in the midst of an economic meltdown, President Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Fri, 10 Apr 2009 11:05:50 GMT)

Obama refinancing would be bad move, experts say
As President Barack Obama on Thursday talked up the economic benefits from the wave of home refinancing sweeping the nation, a mortgage broker said he and First Lady Michelle Obama would likely do well to stand pat with the 30-year mortgage they have on their stately mansion in Chicago. (Fri, 10 Apr 2009 11:08:42 GMT)

Obama cites low rates, urges home refinancing
WASHINGTON — Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Fri, 10 Apr 2009 11:28:00 GMT)

Falling home values may trigger PMI
Dear Dr. Don, My home was purchased for $328,000 with a 30-year, fixed-rate loan at 5.88 percent more than five years ago. The lender did not require private mortgage insurance. The mortgage balance is now $292,000. (Fri, 10 Apr 2009 11:51:05 GMT)

30-year mortgage rates rise slightly
Average rate still below 5 percent Rates on 30-year mortgages inched higher this week after two straight weeks of record lows, but still remained at attractive levels for borrowers looking to refinance their home loans. (Fri, 10 Apr 2009 12:34:00 GMT)

Easy lending to hurt first-home buyers
FIRST-HOME buyers are being warned that generous loan criteria could land them in financial stress, after revelations that the top four banks will lend up to $465,000 to a purchaser on a salary of $70,000 a year. (Fri, 10 Apr 2009 14:00:00 GMT)

The Untold Story of Lender Captive Mortgage Reinsurers
Captive mortgage reinsurers thought they had it good, but eventually the mismatch between loss reserves and losses caught up with them. (Fri, 10 Apr 2009 14:40:10 GMT)

Old Bridge man pleads guilty in $80M mortgage scam
An Old Bridge man pleaded guilty Thursday to leading a Ponzi scheme that defrauded victims out of more than $80 million through his real estate investment company, federal authorities said. Wayne Puff, 61, founder and president of NJ Affordable Homes, appeared in federal court and admitted to bilking hundreds of investors and mortgage lenders during the nearly 8-year scam, acting U.S. Attorney ... (Fri, 10 Apr 2009 15:18:52 GMT)

Housing chief says refinancing program is working
Citing low mortgage rates and increases in refinancing numbers, U.S. Housing Secretary Shaun Donovan said yesterday that the two-month-old Making Home Affordable program was beginning to work. (Fri, 10 Apr 2009 16:01:20 GMT)

Scrappy Mortgage Blogger Fights Bad Court Ruling
A reader points us to this Citizen Media Law Project report on an unlikely new front in the battle for press freedom and an unlikely freedom fighter. A court in New Hampshire’s Rockingham County recently ordered the website Mortgage Lender Implode-O-Meter and its owner and editor Aaron Krowne to disclose the source of a chart it published showing a company called The Mortgage Specialists’s 2007 ... (Fri, 10 Apr 2009 16:11:45 GMT)

Mortgage Rates Rise Modestly to 4.87%
Freddie Mac has released its weekly mortgage survey. (Fri, 10 Apr 2009 16:32:23 GMT)

Westpac offers 'mortgage holiday' to struggling homeowners
Westpac is the first bank in New Zealand to follow Australia's lead and offer 12-month mortgage holidays. The decision is part of the bank's new set of measures to help financially stressed customers. (Fri, 10 Apr 2009 16:35:58 GMT)

Westpac offers 'mortgage holiday' to struggling homeowners
Westpac is the first bank in New Zealand to follow Australia's lead and offer 12-month mortgage holidays. The decision is part of the bank's new set of measures to help financially stressed customers. Australia's biggest banks... (Fri, 10 Apr 2009 17:14:31 GMT)

Lenders relax mortgage criteria
Borrowers who have been frozen out of the mortgage market for many months are beginning to see the landscape thaw, as banks ease criteria and display a renewed appetite for lending. (Fri, 10 Apr 2009 19:00:38 GMT)

Obama says timing right to refinance
Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Fri, 10 Apr 2009 20:49:58 GMT)

Chase opens center to help hard-hit mortgage holders
Mortgage giant JPMorgan Chase opened a home ownership center in metro Atlanta on Friday to help families struggling to stay in their homes. (Fri, 10 Apr 2009 21:04:57 GMT)

Logan community, businesses pay woman's mortgage for 'Greater Good'
LOGAN, Utah (ABC 4 News) - Businesses and generous donors are stepping forward to help pay off the mortgage of a Logan woman and raised money to help others. (Fri, 10 Apr 2009 21:47:29 GMT)

Cache Valley community, businesses pay woman's mortgage for 'Greater Good'
LOGAN, Utah (ABC 4 News) - Businesses and generous donors stepped forward to help pay the mortgage of a Logan woman and raised money to help others. (Fri, 10 Apr 2009 22:02:29 GMT)

IMF, Turkey to meet soon over loan deal
The International Monetary Fund said Friday it would meet Turkish authorities soon to finalise a long-delayed standby loan which reportedly could be reach 45 billion dollars. (Fri, 10 Apr 2009 23:11:27 GMT)

£995 RBS mortgage fee under fire
Royal Bank of Scotland is charging mortgage customers a £995 arrangement fee which cannot be refunded even if the deal does not go ahead, The Herald has learned. (Fri, 10 Apr 2009 23:22:48 GMT)

Is Refinancing Right For You?
Declaring "good news" in the midst of an economic meltdown, President Barack Obama urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Sat, 11 Apr 2009 00:08:43 GMT)

Despite Guilty Plea, Neighborhood Still Hurt by Mortgage Fraud
Despite GA metro home builder pleaded guilty on Friday for his role in a $12.6 million mortgage fraud scam that residents in Lee's Summit and Raymore say left a lasting impact on their neighborhoods. (Sat, 11 Apr 2009 00:21:53 GMT)

Mortgage Assistance Fair scheduled
The Weld Forclosure Coalition will host a Mortgage Assistance Fair next week which will include foreclosure prevention workshops. (Sat, 11 Apr 2009 01:23:27 GMT)

Uncle Sam wants you to refinance!
President Obama is now urging nearly 9-million American homeowners to take advantage of record low mortgage rates. (Sat, 11 Apr 2009 02:24:44 GMT)

Reverse mortgage variation is aimed at seniors looking to downsize
Borrowers may sell their current residence and use a reverse mortgage to buy a new one in a single transaction. That Ralph and Plum Smith bought a house last month in Brookings, Ore., is not terribly remarkable, at least not until you learn that he's 84 and she's 77. But what is even more noteworthy is that the couple didn't pay cash for their new $240,000 home, yet they will have no mortgage ... (Sat, 11 Apr 2009 02:27:19 GMT)

The mortgage maze
1/83/8 DALLAS | Spring typically is when people start shopping for a home. And with interest rates dropping to record lows, now is an attractive time to refinance or to buy a home - provided you can qualify for a loan. (Sat, 11 Apr 2009 02:58:22 GMT)

30-year mortgage rates increase to 4.87 percent
Rates on 30-year mortgages inched higher this week after two straight weeks of record lows, but still remained at attractive levels for borrowers looking to refinance their home loans. (Sat, 11 Apr 2009 05:17:08 GMT)

O'Fallon offers seminar about home repair assistance
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, 11 Apr 2009 06:35:11 GMT)

Foreclosure Coalition to host mortgage help fair
The Weld Foreclosure Coalition will host a Mortgage Assistance Fair next week, which will include foreclosure prevention workshops. (Sat, 11 Apr 2009 07:22:14 GMT)

SURVIVING THE RECESSION / Healthy Hornets take loan
The Hornets have decided to take advantage of an NBA loan program, but it has nothing to do with poor financial health, according to the team. The Hornets are having by far their best season at the ticket office since moving to New Orleans in 2002, thanks to... (Sat, 11 Apr 2009 07:51:48 GMT)

Sweetening the Pot for Home Buyers
The economic stimulus package includes a tax credit for first-time home buyers of up to $8,000 the tax credit is expected to have only a limited impact in spurring housing sales. (Sat, 11 Apr 2009 08:22:09 GMT)

Want to refinance? These tips can help you navigate the tricky mortgage terrain
Before you decide whether to try to refinance to lower the payments on your house, check your goals and current mortgage situation. Whether to apply is a complicated decision that has been compounded by the sagging real-estate market. (Sat, 11 Apr 2009 09:08:17 GMT)

Jumbo mortgage rates decline, but availability is spotty
The average 30-year fixed-rate jumbo mortgage averaged 6.5 percent for the week that ended March 27 — the lowest since May 2007, according to HSH Associates, a publisher of consumer loan information. (Sat, 11 Apr 2009 09:08:27 GMT)

Judge voids mortgage held by LBM
WORCESTER - A federal bankruptcy court judge has voided a mortgage held by a controversial Marlboro "hard-money" lending company, ruling the firm failed to extend the loan contract within the required five-year time limit. (Sat, 11 Apr 2009 11:14:59 GMT)

Forget fees; you can get free mortgage-relief help
Q: The interest rate on my loan just adjusted to 9.25 percent last month. We are upside down on our house by 5 percent, so we aren't sure we can refinance. (Sat, 11 Apr 2009 14:54:37 GMT)

Counting the cost of mortgage holidays
A 12-month mortgage holiday - or a brand-spanking new kitchen and bathroom? As Prime Minister John Key persuades the nation's banks to offer struggling homeowners one-year breaks on paying off their mortgages, figures reveal the enormous cost in taking the "holiday from hell". (Sat, 11 Apr 2009 16:34:16 GMT)

Couple's mortgage break for 'stress relief'
When Brady Smith and Frances Ward go on holiday to Europe in June they will also take a break from paying the mortgage. Smith, 23, works as a builder in South Auckland. Ward is 25 and works in freight tracking. The couple had heard of friends taking a mortgage holiday and asked their broker. (Sat, 11 Apr 2009 16:34:56 GMT)

Couple's mortgage break for 'stress relief'
When Brady Smith and Frances Ward go on holiday to Europe in June they will also take a break from paying the mortgage. Smith, 23, works as a builder in South Auckland. Ward is 25 and works in freight tracking. The couple had heard... (Sat, 11 Apr 2009 17:14:16 GMT)

Counting the cost of mortgage holidays
A 12-month mortgage holiday - or a brand-spanking new kitchen and bathroom? As Prime Minister John Key persuades the nation's banks to offer struggling homeowners one-year breaks on paying off their mortgages, figures reveal the enormous... (Sat, 11 Apr 2009 17:14:26 GMT)

Solon: More indictments in mortgage fraud schemes
A mother and daughter were among four people indicted earlier this week for their parts in another Solon mortgage fraud scheme. Carol Smith, 67, and Sharon Cox, 47, both of Aurora, allegedly helped a third woman obtain a mortgage... (Sat, 11 Apr 2009 18:44:05 GMT)

Make your savings work for you with an offset mortgage
to get a decent rate on your savings these days. The typical no-notice account pays a measly 0.66%, according to Moneyfacts. But if you have a mortgage as well as savings, there is a way to get a better deal. (Sat, 11 Apr 2009 19:20:02 GMT)

UAE mortgage market stabilising
The mortgage market in the UAE is beginning to stabilise, with loan-to-value ratios now between 70% and 85%. According to an Emirates Business 24/7 report, these ratios deter speculators who want to get into the market with just a small deposit. (Sat, 11 Apr 2009 19:21:37 GMT)

Weekly CEO Buys Highlight: General Steel Holdings Inc, Conseco Inc, Vestin Realty Mortgage II ...
Last week's top stocks that were bought by their CEOs were General Steel Holdings Inc, Conseco Inc, Vestin Realty Mortgage II Inc, and Keithley Instruments Inc. According to GuruFocus Insider Data , these are the largest CEO buys during the past week. General Steel Holdings Inc ( GSI ): Chairman & CEO, 10% Owner Zuo Sheng Yu Bought 90,000 Shares Chairman & CEO, 10% Owner of General Steel ... (Sat, 11 Apr 2009 20:39:06 GMT)

Schumer warns NY homeowners of refinancing dangers
Associated Press - April 11, 2009 4:45 PM ET NEW YORK (AP) - Sen. Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of... (Sat, 11 Apr 2009 20:55:17 GMT)

Schumer Warns of Refinancing Risks
Homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators, said Sen. Charles Schumer (D-NY). The senator said Saturday they're the same predators who pushed subprime loans that contributed to the economic crisis. (Sat, 11 Apr 2009 21:32:23 GMT)

Schumer warns NY homeowners of refinancing dangers
Sen. Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. (Sat, 11 Apr 2009 21:32:44 GMT)

Is mortgage offsetting the way to beat the rates blues?
A succession of Bank of England base rate cuts has fundamentally altered the personal finance landscape. It may now be possible for some lucky souls to pay virtually nothing in mortgage interest rates, but for others the effects of the Bank's emergent resuscitation of the economy is less clear cut. (Sat, 11 Apr 2009 23:20:23 GMT)

Schumer warns of mortgage predators
Senator Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. (Sat, 11 Apr 2009 23:35:46 GMT)

EIB approves Olympics loan
LONDON (Reuters) - The European Investment Bank (EIB) has approved a 255 million pound loan to help fund construction of the 2012 London Olympic Games Village. (Sun, 12 Apr 2009 00:18:06 GMT)

Reverse mortgage variation is aimed at seniors looking to downsize
Borrowers may sell their current residence and use a reverse mortgage to buy a new one in a single transaction. That Ralph and Plum Smith bought a house last month in Brookings, Ore., is not terribly remarkable, at least not until you learn that he's 84 and she's 77. But what is even more noteworthy is that the couple didn't pay cash for their new $240,000 home, yet they will have no mortgage ... (Sun, 12 Apr 2009 00:21:50 GMT)

Schumer warns homeowners to beware of refinancing predators
Sen. Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. The senator says they're the same predators who pushed subprime loans that contributed to the economic crisis.... (Sun, 12 Apr 2009 01:35:52 GMT)

Off the Agenda: Councilman grills payday-loan lobbyist
Temperatures shot up as high as a payday-loan interest rate last week when Salt Lake City Councilman J.T. Martin grilled a series of industry representatives on their motives. (Sun, 12 Apr 2009 03:18:07 GMT)

Do You Qualify for Federal Mortgage Assistance Programs?
QHow can I find out whether I will qualify for help with my mortgage under the Obama administration's plan? (Sun, 12 Apr 2009 04:00:00 GMT)

Know what it will cost you to refinance
If you’re dreaming about refinancing your home because mortgage rates are low, first learn the costs and fees so that you don’t get gouged. Paula Sherman, lending protection coordinator for Housing Op portunities Made Equal in Richmond, said that if you have excellent credit and a pristine payment history, you definitely should be able to negotiate lower fees. (Sun, 12 Apr 2009 04:18:48 GMT)

Homeowners refinancing in droves
Homeowners are taking advantage of historically low interest rates to refinance their homes in numbers not seen since early in the housing boom. Mortgage giant Fannie Mae said last week it refinanced $77 billion in loans in March, its best month for such activity since 2003. (Sun, 12 Apr 2009 05:23:01 GMT)

Neal Rubin: Shore Mortgage rewards contest winners' responsibility
Nobody whined. I didn't see all 112 winning entries in the Shore Mortgage contest, but in the ones I read, the recurring theme was responsibility, not recrimination. (Sun, 12 Apr 2009 05:25:29 GMT)

Sen. Chuck Schumer warns of scams involving home refinancing
NEW YORK Sen. Charles Schumer warns homeowners who are taking advantage of low mortgage rates by refinancing to beware of predators. (Sun, 12 Apr 2009 06:11:31 GMT)

SBI may extend 8 pct home loan rate -report
MUMBAI, April 12 (Reuters) - State Bank of India , the country's top bank, may extend its 8 percent rate on home loans until September, the Economic Times newspaper reported on Sunday, citing unnamed sources. (Sun, 12 Apr 2009 06:19:21 GMT)

SBI may extend 8 pct home loan rate -report
MUMBAI, April 12 (Reuters) - State Bank of India , the country's top bank, may extend its 8 percent rate on home loans until September, the Economic Times newspaper reported on Sunday, citing unnamed sources. (Sun, 12 Apr 2009 06:19:21 GMT)

UAE mortgage market stabilising, say experts
12 April 2009 The UAE mortgage market is stabilising as loan-to-value ratios (LTVs) settle in the 70 to 85 per cent range, say banking experts. (Sun, 12 Apr 2009 06:19:30 GMT)

O'Fallon offers seminar about home repair assistance
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, 12 Apr 2009 06:51:41 GMT)

(AFX UK Focus) 2009-04-12 07:34 SBI may extend 8 pct home loan rate -report
MUMBAI, April 12 (Reuters) - State Bank of India, the country's top bank, may extend its 8 percent rate on home loans until September, the Economic Times newspaper reported on Sunday, citing unnamed sources. In February, SBI lowered home loan rates to 8 percent for new customers available until April 30. "The proposal has been forwarded to the chairman's office and approvals for the extension ... (Sun, 12 Apr 2009 06:53:18 GMT)

Reverse mortgage event planned, again
Organizers are hoping that people will show up at another planned reverse mortgage event (Sun, 12 Apr 2009 07:16:51 GMT)

Tribune exclusive report: Mortgage exec faces fraud claims
In February, Mike Wilson a Santa Maria mortgage business owner with many San Luis Obispo County cl (Sun, 12 Apr 2009 07:26:16 GMT)

Schumer Warns NY Homeowners of Refinancing Dangers
NEW YORK (AP) - Senator Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. (Sun, 12 Apr 2009 07:26:43 GMT)

New reverse mortgage opens options for seniors
Imagine for a moment buying a home in the Bay Area with a large cash down payment - say 40 percent or so - and never having to make another mortgage payment. That in essence is what Robert and Sara Bone are doing with their purchase of a $250,000 condominium... (Sun, 12 Apr 2009 07:40:42 GMT)

Mortgage rates up from record lows
Rates on 30-year mortgages inched higher last week after two straight weeks of record lows, but still remained at attractive levels for borrowers looking to refinance their home loans. Freddie Mac said Thursday that average rates on 30-year fixed-rate... Presented By: You Need the Speed of Norton 2009 Introducing the revolutionary Norton Internet Security 2009. With a one-click, one-minute ... (Sun, 12 Apr 2009 07:41:32 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, 12 Apr 2009 08:04:28 GMT)

Tribune exclusive report: Mortgage exec faces fraud claims
In February, Mike Wilson — a Santa Maria mortgage business owner with many San Luis Obispo County clients and real estate investments — was washed overboard from his motor boat in cold, stormy waters off the coast of Ventura. Wearing only a T-shirt, shorts and tennis shoes, Wilson thrashed in 6-foot swells for five hours before the Coast Guard rescued him — almost dead from hypothermia and ... (Sun, 12 Apr 2009 08:23:48 GMT)

Home Loan Bank rides storm
Squeezed by lower interest rates in 2008, wholesale lender Federal Home Loan Bank of Cincinnati was still the fourth-most profitable among its 12 peers last year. (Sun, 12 Apr 2009 09:37:39 GMT)

City to purchase Senator Theatre's mortgage
City agrees to purchase historic theater's mortgage With little more than a week remaining before the auction of the historic Senator Theatre, Baltimore officials have agreed to purchase the mortgage on the property and either sell or lease it in the future. (Sun, 12 Apr 2009 10:30:04 GMT)

Schumer Warns NY Homeowners Of Refinancing Dangers
Sen. Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. He said they're the same lenders who pushed subprime loans that contributed to the economic crisis. (Sun, 12 Apr 2009 12:02:15 GMT)

30-year mortgage rates edge up to 4.87 percent
Rates on 30-year mortgages inched higher last week after two straight weeks of record lows, but still remained at attractive levels for borrowers looking to refinance their home loans. (Sun, 12 Apr 2009 12:04:48 GMT)

Schumer warns NY homeowners of refinancing dangers
Senator Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. The senator says they're the same predators who pushed subprime loans that contributed to the economic crisis. (Sun, 12 Apr 2009 12:29:01 GMT)

Schumer Warns Homeowners of Refinancing
Sen. Charles Schumer is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. The senator says they're the same predators who pushed subprime loans that contributed to the economic crisis. (Sun, 12 Apr 2009 13:02:23 GMT)

Alarm over first-home 'time bomb'
THE rush of first-home buyers is emerging as a bad-debt time bomb for banks with government cash incentives for new homeowners driving about a quarter of all new mortgage applications for banks. (Sun, 12 Apr 2009 14:11:54 GMT)

Local Grandmother’s Club burns another mortgage
Residents at the Grandmother’s Club Mobile Home Park in Arroyo Grande burned the mortgage for a 20-unit apartment complex in Northern California on Monday, 15 years after the Grandmother’s Club borrowed $1 million to build the housing complex. (Sun, 12 Apr 2009 14:19:42 GMT)

All News... Mortgage lending up by 16 per cent
The number of mortgage approvals made by banks went up in February, industry figures have shown. Loans for new house purchases rose by 16 per cent on the previous month to 28,179, according to the latest data from the British Bankers Association. (Sun, 12 Apr 2009 15:01:47 GMT)

Homeowners refinancing in droves
Homeowners are taking advantage of historically low interest rates to refinance their homes in numbers not seen since early in the housing boom. Mortgage giant Fannie Mae said last week it refinanced $77 billion in loans in March, its best month for such activity since 2003. (Sun, 12 Apr 2009 15:53:00 GMT)

Home refinances surge as rates fall
Record-low mortgage rates, as low as 4.75 percent, are bringing local homeowners out in record numbers to refinance. (Sun, 12 Apr 2009 17:17:08 GMT)

Joint J.P. Morgan and Fujitsu Consulting Australian Mortgage Industry Report
First home buyers borrowing too much money at artificially low interest rates will be more sensitive to the inevitable future rises in unemployment and interest rates, according to a new mortgage industry report. [Wired by: PressReleaseNetwork.com] (Sun, 12 Apr 2009 19:27:16 GMT)

Claims mortgage margins increasing
The big banks are allegedly making $450 dollars a year more from an average home mortgage than before the global financial crisis. (Sun, 12 Apr 2009 20:31:21 GMT)

Claims mortgage margins increasing
An analysis has revealed that the major banks are on average making $450 a year more from each home mortgage today than before the global financial crisis. (Sun, 12 Apr 2009 20:34:29 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, 12 Apr 2009 20:57:09 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, 12 Apr 2009 21:01:41 GMT)

Heading for home: Historic rates and a boost from government are helping first-time buyers seek a new base
To Don Olsen, a recent UW-Madison graduate who will start at UW's Law School in the fall, it makes more sense to buy a house than rent for three more years. And because of the new $8,000 federal tax credit for first-time home buyers, good only on purchases in 2009, it makes the most sense to buy now, he said. (Mon, 13 Apr 2009 00:43:42 GMT)

Murphy plugs $8,000 credit to put buyers in first home
NEW BRITAIN — Claribel Rosado said she and her husband, Eddie were excited about being able to buy their new home on Rhodes Street. (Mon, 13 Apr 2009 01:34:04 GMT)

The scheme had caused a flutter in the market, sparking competition in the banking and home finance space.
The special home loan package offered by State Bank of India (SBI) earlier this year is likely to be extended by another five months up to September . Under the scheme, valid from February onwards, interest rate was capped at 8% for one year. (Mon, 13 Apr 2009 04:15:09 GMT)

Mortgage brokers bearing brunt of blame for housing debacle
Mortgage brokers have been a vital cog in the housing machine, but they are shouldering a growing burden in addition to the recession and a market bust – scorn. (Mon, 13 Apr 2009 04:25:44 GMT)

Surviving mortgage brokers start to expand
The weak housing market has slammed Albuquerque’s mortgage brokerage businesses. There were 589 licensed mortgage companies in Bernalillo County at the market peak in 2006. Today there are just over 200. (Mon, 13 Apr 2009 04:26:34 GMT)

Eyes on ‘refi’s: Lenders reluctant to re-hire despite refinance frenzy
In mid-December, Gerald Grubb, owner of Southern Cross Mortgage in High Point, sent a letter to 150 previous clients he thought might be interested in refinancing their homes. The letters touted the record-low interest rates, at that time about 4.75 percent on a 30-year note (Mon, 13 Apr 2009 04:28:14 GMT)

Brian J. O'Connor: Don't delay, time is now to refinance
Good things come to those who wait, and if you've been waiting to refinance your mortgage, this is about as good as things are going to get. (Mon, 13 Apr 2009 05:39:44 GMT)

New York Mortgage Company Announces New Low Rate Refinancing
Great Northern Mortgage Corp., an established New York mortgage company, now offers assistance to apply for Obama's "Making Home Affordable Program" refinance opportunity along with other services, such as loan modifications. (Mon, 13 Apr 2009 07:01:00 GMT)

TrainingPro Announces Education Partnership with Allied Home Mortgage Capital Corporation
TrainingPro, the national leader in mortgage education, recently announced a partnership with Allied Home Mortgage Capital Corporation to be the company's exclusive mortgage education provider for its thousands of mortgage professionals across the country. (Mon, 13 Apr 2009 07:01:00 GMT)

Rochester Historical Society under fire over furniture loan
The Rochester Historical Society has loaned some artifacts to the new owners of the society's own home — causing concern among some. (Mon, 13 Apr 2009 07:10:52 GMT)

O'Fallon offers seminar about home repair assistance
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, 13 Apr 2009 07:16:49 GMT)

Fed Economists Say Mortgage Changes May Not Stem Foreclosures
April 10 (Bloomberg) -- Policies aimed at easing home-loan terms for troubled borrowers may not be as effective in preventing foreclosures as more-direct aid to homeowners, Federal Reserve economists found. (Mon, 13 Apr 2009 09:29:59 GMT)

Prepayment fees put refinance on hold
It's tough to justify a refinance that will cost the homeowner $11,300 in prepayment fees. (Mon, 13 Apr 2009 10:00:00 GMT)

Prepayment fees put refinance on hold
Dear Dr. Don, We refinanced our house at 9.8 percent for two years just to keep us in the house. We have a prepayment penalty of $11,300 if the mortgage is paid off before this October. (Mon, 13 Apr 2009 10:21:25 GMT)

Lawyer Blames Mortgage Companies for Foreclosures
The nation's economic crisis has led to job loss and default for thousands of Americans. Others are saddled with a mortgage that has terms which are impossible to meet. One local real estate attorney represents many who are in this situation and he says he's only found one way to communicate with mortgage companies - to sue them!  (Mon, 13 Apr 2009 10:26:06 GMT)

Banker: Don't wait for mortgage rates to keep dropping
The last time mortgage rates took a nose dive almost five years ago, Carl Walls refinanced his home and never looked back, even when rates fell a little more a few months later. The president of Florida Citizens Bank in Ocala made the move even though it wasn't his bank making the refinance offer. (Mon, 13 Apr 2009 10:39:27 GMT)

Bankers hope loan trickle opens spigot
John Hunt is seeing a "trickle" of an increase in the number of people coming to his Ocala bank and asking for home mortgages. And while a trickle doesn't sound like much, a trickle could be a lifeline this spring to the county's floundering real estate market. (Mon, 13 Apr 2009 10:39:57 GMT)

Heavy interest on home loan? Switch lenders
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? (Mon, 13 Apr 2009 10:56:35 GMT)

Homeowners warned of refinancing dangers
Sen. Charles E. Schumer, D-N.Y., is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. (Mon, 13 Apr 2009 11:03:11 GMT)

Student loan repayment bonus policy extended
Student loan borrowers will qualify for a voluntary repayment bonus whether they are based in New Zealand or overseas, Tertiary Education Minister Anne Tolley announced today. (Mon, 13 Apr 2009 12:11:56 GMT)

Obama: Timing right for millions to refinance
Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. (Mon, 13 Apr 2009 13:46:09 GMT)

Bought a home in last 7 years? You could become upside down
An expert hashes out ways to avoid foreclosing on your home. (Mon, 13 Apr 2009 13:58:31 GMT)

Mortgage Servicer Role May Weigh on Banks
The refinancing boom could hit fees banks collect from home borrowers for collecting monthly payments and other administrative functions. (Mon, 13 Apr 2009 13:58:37 GMT)

Sam J. Salvaggio Joins HomeBanc as Senior Vice President, Regional Mortgage Manager
TAMPA, FL--(Marketwire - April 13, 2009) - Tampa-based HomeBancorp, Inc. has named Sam J. Salvaggio as Senior Vice President, Regional Mortgage Manager for HomeBanc. He is based in the bank's Rocky Point office in Tampa, located at 7650 Courtney Campbell Causeway, Suite 150. Mr. Salvaggio brings to HomeBanc more than 24 years of mortgage banking experience. He has a Bachelor's degree in Finance ... (Mon, 13 Apr 2009 14:05:39 GMT)

Local Grandmother’s Club burns another mortgage
Residents at the Grandmother’s Club Mobile Home Park in Arroyo Grande burned the mortgage for a 20-unit apartment complex in Northern California on Monday, 15 years after the Grandmother’s Club borrowed $1 million to build the housing complex. (Mon, 13 Apr 2009 14:19:43 GMT)

Homeowners warned of refinancing dangers
Sen. Charles E. Schumer, D-N.Y., is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators. (Mon, 13 Apr 2009 14:24:27 GMT)

Grand Bank opens mortgage center
FLOWOOD — Grand Bank has opened a new mortgage lending center in Flowood. Grand Bank CEO Edward J. Langton said the main reasons for opening the new location is the need to provide convenience and more loan options to local residents. (Mon, 13 Apr 2009 16:04:38 GMT)

Mortgage Fraud at All-Time High
April 7, 2009 (SmartPros) Reported incidents of mortgage fraud in the U.S. are at an all-time high and increased by 26 percent from 2007 to 2008 according to a new report released by the Mortgage Asset Research Institute (MARI). (Mon, 13 Apr 2009 17:41:08 GMT)

Former broker sentenced to four years in prison in mortgage-fraud case
An Upper Arlington man who pleaded guilty last month to participating in a multimillion-dollar mortgage-fraud scheme was sentenced today to four years in prison. Scott McCann, 46, pleaded to eight felony charges as part of a plea deal with prosecutors: three counts of engaging in a pattern of corrupt activity and five counts of money laundering. (Mon, 13 Apr 2009 18:38:40 GMT)

Cal Water Prices $100 Million of First Mortgage Bonds
SAN JOSE, CA--(Marketwire - April 13, 2009) - California Water Service Group ( NYSE : CWT ) announced today that California Water Service Company ("Cal Water"), a wholly-owned subsidiary of California Water Service Group, priced an offering of $100,000,000 in aggregate principal amount of its 5.875% First Mortgage Bonds due 2019, Series LL. The bonds will mature on May 1, 2019, and interest on ... (Mon, 13 Apr 2009 18:49:49 GMT)

Wells Fargo May Need $50 Billion in Capital, KBW’s Cannon Says
April 13 (Bloomberg) -- Wells Fargo & Co., the second- biggest U.S. home lender, may need $50 billion to pay back the federal government and cover loan losses as the economic slump deepens, according to KBW Inc.’s Frederick Cannon. (Mon, 13 Apr 2009 19:27:23 GMT)

Man Gets 4 Years, Fine For Role In Mortgage Fraud Ring
An Upper Arlington man is sentenced for his role in what authorities said was a multimillion-dollar mortgage fraud ring. (Mon, 13 Apr 2009 20:20:53 GMT)

Ohioan linked to mortgage fraud ring gets 4 years
DELAWARE, Ohio (AP) - A Columbus-area man has been sentenced to four years in prison for his role in what authorities say was a multimillion-dollar mortgage fraud ring. (Mon, 13 Apr 2009 20:46:48 GMT)

IMF approves $735 mln standby loan for Costa Rica
The International Monetary Fund said Monday it had approved a 735-million-dollar standby loan for Costa Rica to help it weather the global financial and economic crisis. (Mon, 13 Apr 2009 21:42:20 GMT)

Meltdown 101: Is there a downside to mortgage aid?
By CANDICE CHOI NEW YORK (AP) -- It's welcome relief for homeowners struggling with mortgage payments. (Mon, 13 Apr 2009 21:53:48 GMT)

Meltdown 101: Struggling homeowners get mortgage help, but are there strings attached?
NEW YORK - It's welcome relief for homeowners struggling with mortgage payments. The new federal program to let people refinance or modify their mortgages is expected to help millions of Americans lower monthly payments and avoid foreclosure. So what strings are attached? (Mon, 13 Apr 2009 22:07:17 GMT)

Meltdown 101: Is there a downside to mortgage aid?
It's welcome relief for homeowners struggling with mortgage payments. The new federal program to let people refinance or modify their mortgages is expected to help millions of Americans lower monthly payments and avoid foreclosure. So what strings are... (Mon, 13 Apr 2009 22:14:57 GMT)

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