Mortgage News Apr 2009

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Yakima Ranks 5th Nationwide in Growing Home Mortgage Loans
YAKIMA, Wash.- Yakima is ranked fifth nationwide in growing home mortgage loans. Loan officers say this shows that consumers in Yakima have better credit. (Tue, 14 Apr 2009 00:02:55 GMT)

Meltdown 101: Is there a downside to mortgage aid?
It's welcome relief for homeowners struggling with mortgage payments. (Tue, 14 Apr 2009 01:24:05 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. (Tue, 14 Apr 2009 01:24:05 GMT)

British charity pledges aid for poor -- at home
A British charity known for its work in poverty- and crisis-hit hotspots around the globe is turning its attention closer to home -- giving aid to the growing poor in credit-crunched Britain. (Tue, 14 Apr 2009 02:01:56 GMT)

S & T Bank to offer mortgage program
S & T Bank, has set aside $20 million for a special mortgage program through certain builders and land developers, the Indiana, Pa., bank said Monday. (Tue, 14 Apr 2009 04:02:33 GMT)

Making Home Affordable program could help many
The new federal Making Home Affordable program comes as welcome relief for homeowners struggling with mortgage payments. (Tue, 14 Apr 2009 04:04:04 GMT)

Charity pledges aid for poor -- at home
A charity known for its work in poverty- and crisis-hit hotspots around the globe is turning its attention closer to home -- giving aid to the growing poor in credit-crunched Britain. (Tue, 14 Apr 2009 05:20:31 GMT)

SBI extends cheap loan offer till Sep
Under the scheme, which was earlier valid till April end, SBI had frozen the interest rate on new home loans at 8 per cent during the first year, while the cost of auto loans was fixed at 10 per cent during the first year. Subsequently, the interest rate was to be revised to the prevailing rate. Extending the scheme by five months, the bank said top-up loans for home loan customers that are ... (Tue, 14 Apr 2009 05:56:55 GMT)

Bank of Queensland cuts home loan rates
Bank of Queensland has cut its standard variable rate on mortgages by 0.1 percentage points, in line with other banks. BoQ said its new standard variable rate on home loans would drop to 5.89 per cen (Tue, 14 Apr 2009 06:36:06 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. (Tue, 14 Apr 2009 06:52:25 GMT)

Free Mortgage or Loan Modification Leads with All Voice Broadcasting or Direct Mail Marketing
kellymediagroup.com Kelly Media announced today that are offering free internet mortgage or loan modification leads with all voice broadcasting campaigns targeting loan workout, refinance and FHA mortgage loans. KMG announced that they are all committed to internet lead generation and direct marketing campaigns and the offer for free leads indicates their commitment to your business success long ... (Tue, 14 Apr 2009 07:13:22 GMT)

Man gets 4 years for mortgage fraud
DELAWARE, Ohio -- An Upper Arlington man sentenced to four years in prison for his role in a multimillion-dollar mortgage-fraud scheme blamed his actions on a gambling habit. (Tue, 14 Apr 2009 08:23:40 GMT)

Save the Children pledges aid for poor -- at home
Save the Children is known for its work in poverty- and crisis-hit hotspots around the world. But the British charity is now turning its attention closer to home -- giving aid to the growing poor in the credit-crunched country. (Tue, 14 Apr 2009 08:46:05 GMT)

House Mortgage Lending Rises 4% In February
Mortgage approvals for home purchase rose 4% in February, the Council of Mortgage Lenders has announced. (Tue, 14 Apr 2009 08:48:00 GMT)

House Mortgage Lending Rises 4% In February
The number of loans approved for home purchase rose 4% in February, the Council of Mortgage Lenders has announced. (Tue, 14 Apr 2009 09:35:00 GMT)

Taxes shouldn't sway refinance decision
Taxes shouldn't be the tail wagging the dog when weighing mortgage refinance options. (Tue, 14 Apr 2009 10:00:00 GMT)

Housing market recovery hope as mortgage lending jumps 4%
Housing market recovery hope as mortgage lending jumps 4% (Tue, 14 Apr 2009 10:33:55 GMT)

Mortgage lending stabilises
New lending for home purchases picked up slightly in February but remains only about a third of the average activity for that month seen during the peak years of the housing boom between 2002 and 2007, according to the Council of Mortgage Lenders. (Tue, 14 Apr 2009 11:01:17 GMT)

Mortgage lending creeps higher
The number of loans for home purchases jumped 4% in February from the month before, according to new data from the Council of Mortgage Lenders (CML). (Tue, 14 Apr 2009 11:16:00 GMT)

Mortgage lending on the up in February
Mortgage lending rose by four per cent in February according to the Council of Mortgage Lenders (CML). (Tue, 14 Apr 2009 11:22:25 GMT)

Mortgage lending on the up
The number of mortgages taken out by people buying a home rose by 4 per cent during February, figures show. A total of 24,300 loans for house purchase were advanced during the month, up from 23,400 in January, the Council of Mortgage Lenders said. (Tue, 14 Apr 2009 12:06:47 GMT)

Ohioan linked to mortgage fraud ring gets 4 years
A Columbus, Ohio-area man has been sentenced to four years in prison for his role in what authorities say was a multimillion-dollar mortgage fraud ring. (Tue, 14 Apr 2009 14:45:08 GMT)

Canada Mortgage Rates Not Likely to Fall Further, Soper Says
April 14 (Bloomberg) -- Mortgage rates in Canada’s aren’t likely to fall further, said Phil Soper , chief executive officer of Brookfield Real Estate Services. (Tue, 14 Apr 2009 15:57:47 GMT)

Canada Mortgage Rates Not Likely to Fall, Soper Says (Update1)
April 14 (Bloomberg) -- Mortgage rates in Canada, which have plunged by almost 50 percent in the last year, aren’t likely to fall further, said Phil Soper , chief executive officer of Brookfield Real Estate Services Fund. (Tue, 14 Apr 2009 15:58:27 GMT)

Refinancing Upside To Down Economy
More homeowners are jumping at the chance to trim their mortgage payments by hundreds of dollars. (Tue, 14 Apr 2009 16:14:42 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. (Tue, 14 Apr 2009 17:55:29 GMT)

Phila. gets $10M in Federal Home Loan Bank funds
Philadelphia has received nearly $10 million in affordable housing grants for the construction and rehabilitation affordable housing from the Federal Home Loan Banks of Pittsburgh and San Francisco. (Tue, 14 Apr 2009 18:16:39 GMT)

Britain sees uptick in mortgage activity
LONDON, April 14 (UPI) -- The Council of Mortgage Lenders in Britain said new loans for home buyers jumped 4 percent in February, indicating a possible turnabout in the housing market. (Tue, 14 Apr 2009 19:17:06 GMT)

Mortgage rates unlikely to fall further: Brookfield
Mortgage rates in Canada, which have plunged by almost 50% in the last year, aren’t likely to fall further, said Phil Soper, chief executive of Brookfield Real Estate Services Fund. (Tue, 14 Apr 2009 19:28:58 GMT)

Mortgage help is on the way
By May 3, homeowners who want to refinance can work with any lender that can qualify them. (Tue, 14 Apr 2009 19:32:54 GMT)

Government to leave mortgage breaks to banks
The Government has ruled out an accord with banks over mortgage holidays to ease homeowners through hard times. (Tue, 14 Apr 2009 20:25:11 GMT)

Cape woman sentenced in mortgage fraud
A former Cape Coral woman was sentenced to more than three years in prison for her role in a $30 million mortgage fraud scheme. (Tue, 14 Apr 2009 22:20:19 GMT)

Mortgage rates unlikely to fall further: Brookfield
Mortgage rates in Canada, which have plunged by almost 50% in the last year, aren’t likely to fall further, said Phil Soper, chief executive of Brookfield Real Estate Services Fund. (Tue, 14 Apr 2009 23:17:19 GMT)

School in arrears on mortgage forecloses
HALLANDALE BEACH, Fla., April 14 (UPI) -- The Charter School Institute's southern branch in Hallandale Beach, Fla., suffered foreclosure Monday because it had fallen behind on its $300,000 mortgage. (Tue, 14 Apr 2009 23:17:54 GMT)

Ex-mortgage broker held in murder also accused in scam
A former Nesconset mortgage broker already accused of having his business partner killed was charged Tuesday with bilking clients out of tens of thousands of dollars. (Wed, 15 Apr 2009 01:36:32 GMT)

Mortgage lifelines remain out of reach
Low rates frustrating those who can't refinance. (Wed, 15 Apr 2009 03:21:46 GMT)

Montgomery Council Approves Loan Program to Make Houses More Energy Efficient
An innovative home energy loan program designed to encourage Montgomery County residents to make their houses more energy efficient without breaking the bank was approved yesterday by the county council. (Wed, 15 Apr 2009 04:00:00 GMT)

Arrests over alleged car loan scam
THREE men have been charged over an alleged car loan scam police believe is linked to a major Sydney crime syndicate. (Wed, 15 Apr 2009 04:33:00 GMT)

Answers to ease fears on mortgage program
It's welcome relief for homeowners struggling with mortgage payments. (Wed, 15 Apr 2009 06:37:26 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. (Wed, 15 Apr 2009 07:02:15 GMT)

Rakeen signs mortgage financing agreement with Bank of Baroda for Bab Al Bahr project
Rakeen has announced that it has expanded the mortgage financing facility of the Bab Al Bahr project after it recently signed an agreement with Bank of Baroda to offer mortgage financing to investors and property buyers of the groundbreaking development. (Wed, 15 Apr 2009 09:36:30 GMT)

Citibank reduces mortgage prime rate by 50 basis points
Citibank reduces mortgage prime rate by 50 basis pointsCitibank reduces mortgage prime rate by 50 basis points (Wed, 15 Apr 2009 10:28:12 GMT)

Mortgage lending shows signs of stabilising
New lending for home purchases picked up slightly in February but remains only about a third of the average activity for that month seen during the peak years of the housing boom between 2002 and 2007, according to the Council of Mortgage Lenders. (Wed, 15 Apr 2009 10:31:17 GMT)

US MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Wed, 15 Apr 2009 11:04:33 GMT)

Mortgage applications fell 11% last week: MBA
The volume of mortgage applications filed last week fell a seasonally adjusted 11% compared with the week before, even as mortgage rates dropped, the Mortgage Bankers Association reports. (Wed, 15 Apr 2009 11:32:59 GMT)

UPDATE: Mortgage Applications Fell 11% Last Week: MBA
CHICAGO (Dow Jones) -- The volume of mortgage applications filed last week fell a seasonally adjusted 11% compared with the week before, even as mortgage rates dropped, the Mortgage Bankers Association reported on Wednesday. (Wed, 15 Apr 2009 11:45:13 GMT)

Mortgage applications dip
Even as U.S. home loan rates held steady, the MBA says applications to refinance and purchase homes fell in the week including Passover and Good Friday. (Wed, 15 Apr 2009 11:45:59 GMT)

U.S. MBA Mortgage Applications Index Fell 11 Percent Last Week
April 15 (Bloomberg) -- The number of mortgage applications in the U.S. fell last week for the first time in more than a month, indicating any stabilization in housing will be slow to materialize even as borrowing costs drop. (Wed, 15 Apr 2009 11:57:33 GMT)

Mortgage Applications Slip 11 Percent In Latest Survey
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume fell 11 percent last week, as refinance activity slid nearly 11 percent. The decline in applications comes despite a drop in interest rates across the board, which usually encourages mortgage activity. (Wed, 15 Apr 2009 12:57:43 GMT)

Mortgage applications down during holidays
Mortgage applications were down about 11 percent from the prior week in the Mortgage Bankers Association survey for the week ended April 10. (Wed, 15 Apr 2009 13:53:39 GMT)

Mortgage activity declines in week
The volume of applications for U.S. mortgages decreased last week, falling by a seasonally adjusted 11 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, fell from 1,250.6 to 1,113.2 in the week ending April 10, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also declined, dropping 11.3 percent to 264.1, ... (Wed, 15 Apr 2009 13:59:58 GMT)

Professor found guilty in mortgage fraud scheme
MURFREESBORO, Tenn. -- Federal prosecutors say a nursing professor has been found guilty in a million-dollar mortgage fraud scheme and will be sentenced in federal court this summer. (Wed, 15 Apr 2009 14:41:57 GMT)

Mortgage rejections increase fourfold
Figures suggest almost one in 10 mortgage applications that meet a lender's criteria prior to submission are being rejected. (Wed, 15 Apr 2009 14:50:08 GMT)

Veteran Bagwell to lead RBC's local mortgage unit
RBC Bank’s Cliff Bagwell was recently appointed to regional manager of mortgage for North and Central Alabama. (Wed, 15 Apr 2009 15:52:38 GMT)

Mortgage lifelines remain out of reach
Near-record-low mortgage rates are frustrating many homeowners who can't refinance because home values have dropped in their neighborhood. (Wed, 15 Apr 2009 16:21:51 GMT)

US Treasury Survey Shows Mortgage Lending Up Among TARP Banks
WASHINGTON -(Dow Jones)- Mortgage lending grew among the top 21 banks getting government aid, the Treasury Department said. Treasury on Wednesday released results from its monthly bank lending survey for February. (Wed, 15 Apr 2009 17:28:43 GMT)

Royal Caribbean gets loan commitments for world's largest cruise ship
Lifting a cloud of uncertainty from its premier new ship project, Royal Caribbean Cruises said Wednesday it has gotten the loan commitments it needs to pay for the Oasis of the Seas. (Wed, 15 Apr 2009 18:51:35 GMT)

Author advises dump your mortgage, transform yourself
Iris Martin is not a banker, real estate lawyer or mortgage broker. She is a former psychotherapist specializing in transformative psychology. (Wed, 15 Apr 2009 20:13:05 GMT)

Author advises dump your mortgage, transform yourself
Iris Martin is not a banker, real estate lawyer or mortgage broker. (Wed, 15 Apr 2009 20:13:05 GMT)

6 companies to get $9.9B under mortgage program
The Obama administration on Wednesday named the first six companies participating in a $75 billion program designed to help millions of struggling homeowners avoid foreclosure. The administration said the companies _ including some of the mortgage industry's... (Wed, 15 Apr 2009 21:14:37 GMT)

Treasury Sets $9.9 Billion Cap for Home Loan Modification Plan
April 15 (Bloomberg) -- The U.S. Treasury set a cap of $9.9 billion in government reimbursements for the first six companies participating in a new federal program aimed at modifying mortgages and stemming foreclosures. (Wed, 15 Apr 2009 21:27:49 GMT)

FHFA's Lockhart: Mortgage Servicer Safe Harbor Not Needed
WASHINGTON -(Dow Jones)- The Obama administration's plan to combat the foreclosure crisis can succeed without shielding mortgage servicers from investor lawsuits, Federal Housing Finance Agency Director James B. Lockhart said Wednesday. (Wed, 15 Apr 2009 21:57:36 GMT)

6 companies to get $9.9 billion under mortgage program
WASHINGTON -- The Obama administration on Wednesday named the first six companies participating in a $75 billion program designed to help millions of struggling homeowners avoid foreclosure. The administration said the companies -- including some of the mortgage industry's biggest... (Wed, 15 Apr 2009 22:12:01 GMT)

Loan Modification Process Riddled with Problems
If you're one of the thousands of valley residents dealing with stubborn mortgage companies, you're not alone. Customers who want a loan modification are learning it's a lot harder to get help than they think. (Wed, 15 Apr 2009 22:30:23 GMT)

6 companies to get $9.9 bn under mortgage program
6 companies to get $9.9 bn under mortgage program6 companies to get $9.9 bn under mortgage program (Wed, 15 Apr 2009 22:55:43 GMT)

Meltdown 101: Is there a downside to mortgage aid?
NEW YORK (AP) - 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? (Wed, 15 Apr 2009 23:29:55 GMT)

One-pence mortgage
A couple in Britain pays almost nothing for the mortgage on their house. (Thu, 16 Apr 2009 00:23:05 GMT)

Six Lenders to Get Home Loan Aid
The Obama administration said the $9.9 billion the companies would receive was meant to encourage mortgage companies to lower borrowers? monthly bills. (Thu, 16 Apr 2009 01:39:38 GMT)

Lenders To Get Billions In Home Loan Aid
The Obama administration named the first six companies participating in a $75 billion program designed to help millions of struggling homeowners avoid foreclosure. (Thu, 16 Apr 2009 02:28:39 GMT)

Australand Shares Rise on A$350 Million Refinancing (Update1)
April 16 (Bloomberg) -- Australand Property Group , the Australian unit of Singapore’s CapitaLand Ltd., rose to the highest in more than five months in Sydney trading after saying it got approvals from three banks for refinancing debt. (Thu, 16 Apr 2009 02:43:03 GMT)

Refinancing Deal May Save Low-Cost Housing in Brooklyn
Senator Charles E. Schumer called the Starrett City proposal a ?groundbreaking? agreement that could serve as a model for other subsidized housing complexes in New York. (Thu, 16 Apr 2009 03:35:34 GMT)

Six Lenders Join Mortgage Program
The Treasury Department said yesterday that it has signed contracts with six major mortgage lenders to participate in the Obama administration's $75 billion foreclosure prevention effort. (Thu, 16 Apr 2009 04:00:00 GMT)

U.S. mortgage business reviving
Belinda Hollins used to consider herself the "queen of subprime." The Kansas City-area mortgage broker rode the boom, then held on through the bust. (Thu, 16 Apr 2009 05:10:00 GMT)

Six Firms Join Mortgage Program
(RTTNews) - The U.S. Treasury Department Wednesday signed contracts with six major mortgage lenders to participate in the Obama administration's USD 75 billion program to help millions of struggling homeowners avoid foreclosure, reports say. (Thu, 16 Apr 2009 05:27:22 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. (Thu, 16 Apr 2009 06:20:25 GMT)

Royal Caribbean gets loan commitments for world's largest cruise ship
Lifting a cloud of uncertainty from Royal Caribbean Cruises' premier new ship project, the company said Wednesday it has the loan commitments it needs to pay for the Oasis of the Seas. (Thu, 16 Apr 2009 07:07:50 GMT)

Low rates can mean big savings when refinancing
Dear Action Line: The investment pundits say now is the time to refinance your mortgage and get one of those historically low interest rates. How do I go about this? — S.B., Tulsa. (Thu, 16 Apr 2009 07:45:48 GMT)

Northern Rock Mortgage Bonds Fall as U.K. Encourages Lending
April 16 (Bloomberg) -- U.K. government efforts to boost real-estate lending through Northern Rock Plc are hurting mortgage-backed bonds in the rescued bank’s 31 billion-pound ($47 billion) Granite trust, according to bankers. (Thu, 16 Apr 2009 08:34:42 GMT)

Elvis investors all shook up after defaulting on mortgage
A group of investors who had planned to build an Elvis-themed resort on the Strip could be forced to sell their property because of a default on a $475 million mortgage loan. (Thu, 16 Apr 2009 09:58:12 GMT)

Mortgage rates edge lower
The 30-year fixed-rate mortgage dipped to 5.18 percent in Bankrate's weekly survey. (Thu, 16 Apr 2009 10:00:00 GMT)

Should you skip your mortgage payment?
Being delinquent on your mortgage won't necessarily improve your odds of a loan modification. (Thu, 16 Apr 2009 10:00:00 GMT)

Hong Kong’s Government Triples Revolving Loan to Mortgage Unit
April 16 (Bloomberg) -- The Hong Kong government tripled the size of a revolving loan to its unit that buys home loans from local banks, in a move to boost mortgage lending and real estate prices. (Thu, 16 Apr 2009 10:24:52 GMT)

FSA bans and fines mortgage broker £100,000 for fraud
The Financial Services Authority (FSA) has banned a South London mortgage broker and fined him £100,000 for his knowing involvement in the submission of false mortgage applications. (Thu, 16 Apr 2009 10:29:46 GMT)

Bankrate: Mortgage Rates Inch Lower
Mortgage rates were down slightly this week, with the average 30-year fixed mortgage rate dipping to 5.18 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.44 discount and origination points. (Thu, 16 Apr 2009 11:30:00 GMT)

Should you skip your mortgage payment?
If you've been tempted to skip a few mortgage payments to try to convince your lender to modify your loan, you may want to resist that temptation. (Thu, 16 Apr 2009 11:59:20 GMT)

Bankrate: Fixed Mortgage Rates Decline In Latest Week
Bankrate: Fixed Mortgage Rates Decline In Latest Week (Thu, 16 Apr 2009 12:11:29 GMT)

Mortgage broker banned
A mortgage broker is banned and fined £100,000 by the regulator for being involved in submitting false applications. (Thu, 16 Apr 2009 12:35:12 GMT)

Freddie Mac: Fixed Mortgage Rates Decline In Latest Week
Freddie Mac: Fixed Mortgage Rates Decline In Latest Week (Thu, 16 Apr 2009 14:41:19 GMT)

Mortgages: 15-year fixed-rate mortgage, 5-year ARM fall to record lows
Rates on fixed-rate mortgages dropped this week, with the benchmark 30-year fixed-rate mortgage averaging 4.82%, according to Freddie Mac’s weekly survey, released on Thursday. (Thu, 16 Apr 2009 14:53:23 GMT)

U.S. fixed mortgage rate falls to 4.82 percent
Mortgage applications in the U.S. fell last week for the first time in more than a month. (Thu, 16 Apr 2009 15:17:06 GMT)

Mortgage rates fall, shy of record lows
Rates on 30-year mortgages dipped this week after rising a week earlier, and remain just above record lows. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages fell to 4.82 percent this week, down from an average of 4.87 percent last week. (Thu, 16 Apr 2009 15:39:17 GMT)

Mortgage rates fall to just shy of record lows
Mortgage finance giant Freddie Mac said today that average rates on 30-year fixed-rate mortgages fell to 4.82 percent this week, down from an average of 4.87 percent last week. Rates have been below 5 percent for five consecutive weeks. (Thu, 16 Apr 2009 16:37:29 GMT)

Mortgage rates ease
Mortgage rates fell slightly this week and appear to be settling into a range near historically low levels, according to a national survey released Thursday. (Thu, 16 Apr 2009 17:11:43 GMT)

Mortgage Rates Fall, Foreclosure Rates Rise to Record
RealtyTrac and Freddie Mac release information on foreclosures and mortgage rates, Thursday. (Thu, 16 Apr 2009 17:56:07 GMT)

Federal tax credit advances loan budget amendment adopted
The state Senate Ways and Means Committee unanimously adopted an amendment to the state budget authorizing the state to invest $25 million in a short-term loan program in order to provide a cash advance on the federal, first-time home buyers' tax credit, allowing potential home buyers to utilize the tax credit as down payment when closing the sale of their first home instead of receiving a ... (Thu, 16 Apr 2009 18:51:10 GMT)

House panel sets April 23 mortgage bill hearing
The U.S. House of Representatives Financial Services Committee said on Thursday it will hold a hearing on April 23 on a bill to overhaul mortgage industry practices and curb predatory lending. (Thu, 16 Apr 2009 19:24:04 GMT)

Mortgage Cram-Down Stalls in Senate, May Be Revised (Update1)
April 16 (Bloomberg) -- Senate Democrats are scaling back legislation that would let bankruptcy judges alter mortgage terms because lawmakers don’t have enough votes for passage, a spokesman for Senate Majority Leader Richard Durbin said. (Thu, 16 Apr 2009 19:36:59 GMT)

GMAC Boosts Home Lending, Will Add 1,000 Workers, Marano Says
April 16 (Bloomberg) -- GMAC LLC, the auto and home lender that was bailed out to save General Motors Corp. , said its mortgage unit is benefiting from an increase in refinancing and jumbo loans and is hiring 1,000 people to handle the workload. (Thu, 16 Apr 2009 19:49:24 GMT)

San Francisco Area Home Prices Fall Record 46 Percent (Correct)
(Corrects prices in eighth paragraph.) April 16 (Bloomberg) -- San Francisco Bay Area home prices fell a record 46 percent in March from a year earlier as foreclosures drove more than half the sales in the region. (Thu, 16 Apr 2009 21:10:32 GMT)

Mortgage rates fall shy of record
WASHINGTON — Rates on 30-year mortgages dipped this week after rising a week earlier, and remain just above record lows.Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages fell to 4. (Thu, 16 Apr 2009 22:17:14 GMT)

Government says refinance
President Obama is encouraging Americans to refinance to avoid foreclosure and to save potentially thousands of dollars with a new mortgage. (Thu, 16 Apr 2009 23:20:55 GMT)

GMAC mortgage unit: We're hiring again
GMAC LLC, the General Motors Corp financing affiliate that received a government bailout, said its mortgage unit is hiring 1,000 people to handle a surge in refinancings and jumbo loans. (Fri, 17 Apr 2009 01:18:53 GMT)

Dallas-Fort Worth home foreclosures hit record high
Home foreclosure filings in the Dallas-Fort Worth area have risen to a record high, with more than 5,500 properties facing forced sale next month. (Fri, 17 Apr 2009 03:01:55 GMT)

Starwatch consumer | Mortgage rates fall
Fixed mortgage rates fell this week, driven by the Federal Reserve’s plan to buy home loan securities to boost the housing market. (Fri, 17 Apr 2009 03:51:07 GMT)

When to prepay a home loan
Q I owe $100,000 on my mortgage, which charges 5.875 percent interest. I'd like to pay this off, but friends say doing so will cost me the... (Fri, 17 Apr 2009 04:21:48 GMT)

Although the March 31 deadline set by Reserve Bank of India for receiving loan restructuring applications has expired, ...
Banks are taking a considerate view on home loan repayment by borrowers who have lost their jobs, thereby helping them retain their homes. (Fri, 17 Apr 2009 04:25:46 GMT)

GMAC Follows Wells Fargo Into ‘Warehouse’ Mortgage Resurgence
April 17 (Bloomberg) -- GMAC LLC , the auto and home lender that required a $6 billion government lifeline last year to stay afloat, said it’s taking advantage of record low interest rates by issuing more loans through independent mortgage bankers. (Fri, 17 Apr 2009 07:51:49 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. (Fri, 17 Apr 2009 07:58:20 GMT)

Want loan to start your own business?
Term loan is the most common type of loan available for small and medium entrepreneurs, SMEs, in India. (Fri, 17 Apr 2009 08:51:48 GMT)

30-year fixed mortgage average rate falls to 4.82 percent
Mortgage rates decline Most mortgage rates slid this week, according to mortgage giant Freddie Mac. The average 30-year, fixed-rate mortgage fell to 4.82 percent from 4.87 percent last week, and the average 15-year, fixed-rate mortgage slid to 4.48 percent from 4.54 percent. The average five-year adjustable-rate mortgage also dropped to 4.88 percent from 4.93 percent, while the average one-year ... (Fri, 17 Apr 2009 09:49:57 GMT)

Germany launches takeover bid for troubled mortgage lender
Berlin - The German government's state banking fund launched its bid on Friday to take full control of troubled mortgage lender Hypo Real Estate (HRE). The Financial Market Stabilization Fund (SoFFin) said its cash offer of 1.39 euros (1.82 dollars) ... (Fri, 17 Apr 2009 10:17:49 GMT)

Home Sweet Home: Beware of foreclosure rescue scams and fees
Like many homeowners facing foreclosure, Sandi Stewart says she'll do just about anything to keep her Lakeland home. (Fri, 17 Apr 2009 11:31:51 GMT)

Mortgage fraud case draws new guilty plea
Another defendant charged in the mortgage fraud case involving mortgage broker John Dimitrion pleaded guilty to conspiracy yesterday in federal court. (Fri, 17 Apr 2009 11:39:36 GMT)

Negative Equity to Hit 15% of U.K. Mortgage Holders (Update1)
April 17 (Bloomberg) -- The U.K. housing-market slump may leave almost a sixth of mortgage-holders with loans that exceed the value of their home, Sanford C. Bernstein & Co. said. (Fri, 17 Apr 2009 11:48:54 GMT)

Should you skip your mortgage payment?
If you've been tempted to skip a few mortgage payments to try to convince your lender to modify your loan, you may want to resist that temptation. ... (Fri, 17 Apr 2009 13:15:49 GMT)

John Rodgers, CEO of Prime Mortgage Lending Recognized in Top 200
APEX -- John Rodgers, CEO and President of Prime Mortgage Lending was recognized as one of the top 200 loan originators in the USA by Mortgage Originator Magazine. (Fri, 17 Apr 2009 14:47:17 GMT)

How to nab a low-rate home loan
On paper it seems like the perfect time to refinance. The average rate on a 30-year fixed mortgage recently hit a 20-year low when it fell below 5% in mid-March. And the Fed has said that it will spend $300 billion to buy back government-backed Treasury bonds; that will probably keep loan rates low for months to come. (Fri, 17 Apr 2009 15:57:03 GMT)

Sterling Savings Bank Extends Special Loan Program for Homebuyers
SPOKANE, Wash.----Sterling Savings Bank today announced it is extending its special loan program that offers a choice between receiving a lender contribution of up to 3 percent of the purchase price or a 3.875 percent, 30-year fixed mortgage rate on a new home. (Fri, 17 Apr 2009 16:06:00 GMT)

BB&T Beats Analysts Estimates as Loan Losses Moderate (Update3)
April 17 (Bloomberg) -- BB&T Corp., the largest U.S. commercial bank by deposits that hasn’t cut its dividend, rose as much as 9 percent in New York trading after it posted a first-quarter profit and the bank’s chief executive officer said loan losses may be moderating. (Fri, 17 Apr 2009 16:23:58 GMT)

GMAC Follows Wells Fargo Into ‘Warehouse’ Mortgage Resurgence
April 17 (Bloomberg) -- GMAC LLC , the auto and home lender that required a $6 billion government lifeline last year to stay afloat, said it’s taking advantage of record low interest rates by issuing more loans through independent mortgage bankers. (Fri, 17 Apr 2009 17:04:18 GMT)

Mortgage Fraud Crackdown Is Gathering Steam in Florida
The real estate boom gave rise to a host of scams. Now comes a surge of investigations to bring the perpetrators to justice (Fri, 17 Apr 2009 17:13:15 GMT)

Modifying a mortgage? Don't pay a fee
Question 1. My husband went to company who claims they work with the mortgage company and negotiate on your behalf "for a fee." They claim we as homeowners cannot do this on our own. Now I am beginning to think we made a very big mistake. -- Worried in Florida (Fri, 17 Apr 2009 18:41:53 GMT)

Mortgage Cramdown Compromise Could Be Near
Sen. Dick Durbin (D-Ill.), a prominent Congressional advocate of mortgage cramdown authority, is considering whether to accept a compromise version of the legislation early next week that would still face stiff opposition from financial institutions and Senate Republicans. (Fri, 17 Apr 2009 19:10:47 GMT)

Home Loan Modifiers Taking Office Space
Orange County's seeing another mortgage-related line of business pick up steam, thanks to the country's foreclosure crisis. Loan modification, foreclosure relief and related financial workout companies are by most accounts some of the fastest growing businesses in the county of late. (Fri, 17 Apr 2009 20:00:43 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: (Fri, 17 Apr 2009 20:11:42 GMT)

Is there a downside to mortgage aid?
NEW YORK (AP) - 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? (Fri, 17 Apr 2009 21:18:06 GMT)

Mortgage scammer sentenced to 13 years
Peter Affatati of Coral Springs has been sentenced to 13 years in federal prison for his role in an ambitious mortgage scheme. (Fri, 17 Apr 2009 21:59:48 GMT)

Ameriquest: A window into the mortgage meltdown
To help understand why the Obama administration is pushing for greater financial regulation, it may help to examine the case of Ameriquest Mortgage Co. (Fri, 17 Apr 2009 22:02:20 GMT)

Tips On Refinancing Your Mortgage
The good news in the house industry is that mortgage rates are hitting record lows. (Fri, 17 Apr 2009 22:05:20 GMT)

Taking Stock Before Refinancing Your Mortgage
With 30-year interest rates well below 5 percent and 15-year interest rates between 4 and 4.5 percent, it's time to start thinking seriously about refinancing your mortgage. (Fri, 17 Apr 2009 22:34:53 GMT)

John Rodgers, CEO of Prime Mortgage Lending Recognized in Top 200
APEX -- John Rodgers, CEO and President of Prime Mortgage Lending was recognized as one of the top 200 loan originators in the USA by Mortgage Originator Magazine. (Sat, 18 Apr 2009 01:34:48 GMT)

Mortgage industry changes throw new hurdles in borrowers' way
Fannie Mae and Freddie Mac are tacking on extra fees for many loan applicants, while some lenders are going even further in tightening underwriting rules. Mortgage rates and house prices are down -- which sounds great for buyers and refinancers. But mortgage industry underwriting and appraisal changes taking effect this month are putting new hurdles in the way of borrowers and loan officers. (Sat, 18 Apr 2009 01:37:35 GMT)

In hock for a Hockney: 12,500 amateur collectors sign up to art loan scheme
If you imagined your appreciation of Anish Kapoor’s latest sculpture to be limited to an afternoon trip to Tate Modern’s Turbine Hall, or that it was only the nation’s wealthiest who could afford to place a David Hockney etching or a Banksy print above their mantelpiece, you appear not to have made use of a loan scheme that allows ordinary mortals to purchase art. (Sat, 18 Apr 2009 02:53:54 GMT)

Local realty group to cover mortgage payments for buyers who lose their job
ELKHART — It's an industry first in Indiana: lose your job, and your Realtor will make your mortgage payment for you. The question now: will it help turn the local housing market around? (Sat, 18 Apr 2009 03:05:26 GMT)

Want a Second Home? Save Up.
Getting a mortgage for a home these days can be tough, and getting one for a second home can be even tougher. (Sat, 18 Apr 2009 03:22:32 GMT)

Home, real estate seminars
Learn how to buy homes or foreclosed properties, get a rehab loan or find a career in the real estate field. (Sat, 18 Apr 2009 07:15:09 GMT)

Borrowers spend less than a third on mortgage payments in 12 months
Borrowers are spending less than a third of their monthly wage packet on their mortgage compared to half last year according to Britain's biggest mortgage lender. (Sat, 18 Apr 2009 07:15:19 GMT)

Mortgage promo for Abu Dhabi buyers
Rakbank has launched a mortgage finance deal for buyers of properties in Abu Dhabi. (Sat, 18 Apr 2009 07:19:58 GMT)

Tri-City's refinancing deal falls through
A plan to get Tri-City Healthcare District out from under $58.4 million in debt fell apart this week after a major bank withdrew from the refinancing deal. (Sat, 18 Apr 2009 09:16:18 GMT)

Key facts about the federal loan modification program
Here are some questions and answers on concerns people might have about the federal Making Home Affordable program. (Sat, 18 Apr 2009 09:18:22 GMT)

Mortgage options are available to buy a home in today's market
Q: I've never owned a home and have so-so credit. I earn $1,000 per week after taxes. I am eligible for a Veteran's Administration loan but I'm having trouble getting a mortgage. Who can I talk to that can help me? (Sat, 18 Apr 2009 09:31:47 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, 18 Apr 2009 09:45:14 GMT)

Web site offers mortgage help
FICO, owner of the credit-scoring formula that many lenders use in making mortgage decisions, is now helping homeowners figure out if they can keep them. The Minneapolis-based credit-rating company is unveiling a new Web site today, mortgagereliefonline.com, to help struggling homeowners avoid foreclosure. Borrowers complete a confidential online form and should find out within seconds whether ... (Sat, 18 Apr 2009 09:45:24 GMT)

Skipping a mortgage payment to gain leverage won't get you anywhere
If you've been tempted to skip a few mortgage payments to try to convince your lender to modify your loan, you may want to resist that temptation. Whether your goal is to stave off foreclosure or just make your payments more affordable, experts say... (Sat, 18 Apr 2009 10:05:25 GMT)

However, when it comes to affordability whether you are waiting for prices to come down or take a home loan, or even ...
With the economic downturn hitting the housing sector hard, the people aspiring to buy homes must continue to wait and watch. (Sat, 18 Apr 2009 11:25:47 GMT)

8 things to do before refinancing your home
With 30-year interest rates below 5 percent, and 15-year interest rates between 4percent and 4.5 percent, it's time to start seriously thinking about refinancing your mortgage. (Sat, 18 Apr 2009 11:57:03 GMT)

Wagenhals joins Reverse Mortgage
Seniors Reverse Mortgage, Inc., a reverse-mortgage broker headquartered in Pleasant Hill, has announced Ron W. Wagenhals as the companyís Salinas and Monterey-area reverse mortgage consultant. (Sat, 18 Apr 2009 12:10:19 GMT)

Mortgage rates fall, shy of record lows
By ALAN ZIBEL WASHINGTON — Rates on 30-year mortgages dipped this week after rising a week earlier, and remain just above record lows. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages fell to 4.82 percent this week, down from an average of 4. (Sat, 18 Apr 2009 13:17:35 GMT)

Is refinancing a good idea?
-- The number of local homeowners wanting to refinance has increased significantly, according to Bobbie Dyer, assistant vice president for Wells Fargo in Brevard County. (Sat, 18 Apr 2009 17:31:58 GMT)

Is there a downside to mortgage aid?
It's welcome relief for homeowners struggling with mortgage payments. (Sat, 18 Apr 2009 19:59:53 GMT)

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