Mortgage News May 2009

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Buy-to-let mortgage market shrinks
The buy-to-let mortgage market has shrunk by 95% in the past two years, making life increasingly difficult for amateur landlords, research has shown. (Wed, 06 May 2009 00:12:24 GMT)

2 Milpitas mortgage brokers get prison for fraud
Associated Press - May 5, 2009 8:14 PM ET MILPITAS, Calif. (AP) - Two former Milpitas mortgage brokers have been given lengthy prison sentences for stealing $8 million from fraudulent sub-prime... (Wed, 06 May 2009 00:26:58 GMT)

2 Milpitas mortgage brokers get prison for fraud
Two former Milpitas mortgage brokers have been given lengthy prison sentences for stealing $8 million from fraudulent sub-prime loans. Esperanza Valverde and Herman Covarrubias each were convicted in October of multiple counts of grand theft and forgery.... (Wed, 06 May 2009 00:38:47 GMT)

New loan-approval steps creating controversy
There's a lot of anger in the home-loan industry right now over a new regulation that is described as trading one slave master for a new and worse (Wed, 06 May 2009 00:45:10 GMT)

Buy-To-Let Mortgage Market Shrinks By 95%
The buy-to-let mortgage market has shrunk by 95% in the past two years - making life increasingly difficult for amateur landlords, research has showed. (Wed, 06 May 2009 00:46:33 GMT)

2 Milpitas mortgage brokers get prison for fraud
Two former Milpitas mortgage brokers have been given lengthy prison sentences for stealing $8 million from fraudulent sub-prime loans. (Wed, 06 May 2009 02:25:04 GMT)

Senate Defeats TARP Amendments to Move Mortgage Bill Forward
May 6 (Bloomberg) -- The U.S. Senate defeated amendments that would have put greater restrictions on the Treasury’s $700 billion Troubled Asset Relief Program as Congress pushes for passage of a broader revamping of mortgage modification laws. (Wed, 06 May 2009 04:00:30 GMT)

Woolwich cuts mortgage rates
Woolwich has cut more than half of its mortgage rates and relaunched deals for those with a smaller deposit. (Wed, 06 May 2009 06:18:20 GMT)

Good borrowers can get mortgage recast
Delinquent borrowers are not the only homeowners eligible for a recast of their mortgage. (Wed, 06 May 2009 10:00:00 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, 06 May 2009 11:03:34 GMT)

U.S. mortgage applications up despite jump in rates
U.S. mortgage applications rose last week even as interest rates jumped to their highest levels since mid-March, data from an industry group showed on Wednesday. (Wed, 06 May 2009 11:25:34 GMT)

Good borrowers can get mortgage recast
Dear Dr. Don, What do you mean when you talk about a "recast" of your mortgage ? Is that a rate adjustment? (Wed, 06 May 2009 11:43:26 GMT)

Mortgage Applications Up 2% In Spite Of High Rates
Mortgage Applications Up 2% In Spite Of High Rates (Wed, 06 May 2009 11:59:14 GMT)

Mortgage applications up 2%, led by purchases
CHICAGO (MarketWatch) -- The number of mortgage applications rose 2% in the week ending May 1, the Mortgage Bankers Association said Wednesday, with borrowers seeking both more refinance and home-purchase loans. (Wed, 06 May 2009 12:37:33 GMT)

Mortgage Applications Up 2 Percent Last Week
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume edged up slightly last week, as refinance activity ticked up over 1 percent. (Wed, 06 May 2009 12:48:39 GMT)

U.S. mortgage applications up despite jump in rates
U.S. mortgage applications rose last week even as interest rates jumped to their highest levels since mid-March, data from an industry group showed on Wednesday. (Wed, 06 May 2009 13:17:04 GMT)

Associated Bank to defer mortgage payments up to 12 months for unemployed customers
Associated Bank announced Wednesday it will allow certain unemployed customers to defer their monthly mortgage payment for up to 12 months. (Wed, 06 May 2009 16:03:15 GMT)

Mortgage applications, rates up
Applications for refinancing and new purchases for the week ended May 1 were up more than 43 percent from a year before, according to the Mortgage Bankers Association’s weekly survey. On a week-over-week basis, applications increased 2.4 percent, even as rates and points both moved higher. (Wed, 06 May 2009 16:19:31 GMT)

Senate moves toward easing mortgage terms
Trying to curb home foreclosures, the Senate is poised to pass legislation that would make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Wed, 06 May 2009 17:56:08 GMT)

Senate moves toward easing mortgage terms
WASHINGTON -- Trying to curb home foreclosures, the Senate is poised to pass legislation that would make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. The legislation, expected to pass today,... (Wed, 06 May 2009 18:19:32 GMT)

Fitch Withdraws 1 Class from 1 GMAC Home Equity Loan Trust, Series 2002-HE3
NEW YORK----Fitch Ratings has taken the following rating action on the GMAC Home Equity Loan Trust listed below: (Wed, 06 May 2009 18:23:00 GMT)

Senate moves toward easing mortgage terms
Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. The bill, passed 91-5, also would give banks a break by reducing fees they must pay... Related: Mortgage - Foreclosure - Business - Financial services - Australian Senate (Wed, 06 May 2009 18:23:18 GMT)

Senate moves toward easing mortgage terms
Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Wed, 06 May 2009 18:32:31 GMT)

Senate moves toward easing mortgage terms
Trying to curb home foreclosures, the Senate is poised to pass legislation that would make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Wed, 06 May 2009 18:41:52 GMT)

Senate moves toward easing mortgage terms
(AP:WASHINGTON) The Senate has voted to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Wed, 06 May 2009 19:33:48 GMT)

Senate passes safe-harbor mortgage-modification bill
The U.S. Senate approved so-called safe-harbor mortgage legislation aimed at making it easier for struggling homeowners to refinance and shielding loan-servicing companies from lawsuits. (Wed, 06 May 2009 21:08:40 GMT)

Economy - Wednesday
Demand for home loans rose 2% in the week ended May 1, the Mortgage Bankers Assoc. said. Applications for loans to buy a home gained 5%; refinancing activity edged up 1.2%. That's despite higher mortgage rates. Mortgage applications are down 6% over the last four weeks. (Wed, 06 May 2009 22:59:59 GMT)

Senate OKs mortgage help for some
The Senate has voted 91-5 to make it easier for homeowners with poor credit to switch to a cheaper, government-backed mortgage. In exchange, banks would get a break on the fees they pay to insure deposits. The legislation does not contain a provision that President Obama had promised to push through Congress: granting bankruptcy judges the power to lower a homeowner's mortgage payment. Banks ... (Wed, 06 May 2009 23:50:02 GMT)

Congress moves toward easing mortgage terms
Washington » Trying to curb home foreclosures, the Senate voted Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Thu, 07 May 2009 00:08:01 GMT)

Senate votes to ease mortgage terms
Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Thu, 07 May 2009 01:08:48 GMT)

Report says mortgage lenders helped fuel global economic crisis
PASADENA - A new report places failed mortgage lender IndyMac Bancorp Inc. among the top 25 lenders whose subprime loans are largely blamed for triggering the global economic meltdown. (Thu, 07 May 2009 01:31:58 GMT)

Senate moves toward easing mortgage terms
Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. The bill, passed 91-5, also would give banks a break by encouraging reduced fees they must pay for the government to insure deposits. (Thu, 07 May 2009 02:22:31 GMT)

Senate moves toward easing mortgage terms
Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. The bill, passed 91-5, also would give banks a break by encouraging reduced fees they must pay for the government to insure deposits. (Thu, 07 May 2009 04:31:57 GMT)

Home improvement program goes before committee today
A city committee is set to consider dueling proposals about funding a citywide home improvement loan program. (Thu, 07 May 2009 05:24:30 GMT)

ANZ boss advises against fixed home loan rates
ANZ chief executive Mike Smith says mortgage holders should not fix home loan rates yet, predicting interest rates will continue to fall. Mr Smith was addressing the Australian Institute of Company D (Thu, 07 May 2009 06:10:57 GMT)

Homeowners Find Loan Modification Slow Going
The Obama administration has begun doling out the first chunk of $75 billion to several banks nationwide to help struggling homeowners stay in their homes. The Making Home Affordable program was designed to help lenders offset the cost of modifying home loans. (Thu, 07 May 2009 09:32:55 GMT)

Do you qualify for the refinance plan?
The federal government, Fannie Mae and Freddie Mac spell out the rules for the refinance program. (Thu, 07 May 2009 10:00:00 GMT)

Mortgage analysis
Why did mortgage rates move up or down this week? Bankrate senior reporter Holden Lewis explains. (Thu, 07 May 2009 10:00:00 GMT)

Mortgage lenders relax loan terms
Mortgage lenders have started to relax slightly the requirements they lay down for granting a home loan, figures indicate. (Thu, 07 May 2009 10:03:38 GMT)

Mortgage scheme branded a failure
A FLAGSHIP £200 million mortgage rescue scheme has failed to help a single family facing repossession anywhere in the region, the Government has admitted. (Thu, 07 May 2009 10:41:02 GMT)

HOPEWELL TOWNSHIP: FHA mortgage deal for hospital makes history
The Federal Housing Administration recently announced that it has finalized a deal to insure a $756 million mortgage for Capital Health Systems. (Thu, 07 May 2009 11:07:11 GMT)

Senate passes mortgage aid bill
WASHINGTON - Trying to curb home foreclosures, the Senate voted yesterday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Thu, 07 May 2009 11:22:12 GMT)

Partial mortgage payment is risky
Dear Dr. Don, What would happen if I paid my interest and principal payment without making the escrow payment for two months? My mortgage payment is currently 30 days past due, and I want to at least show that I am making an attempt to stay current on my mortgage. (Thu, 07 May 2009 11:42:56 GMT)

Mortgage holders urged not to rush into fixed home loan rates
ANZ Banking chief executive Mike Smith has warned mortgage holders not to fix their home loan rates yet, saying interest rates may continue to fall. (Thu, 07 May 2009 13:59:04 GMT)

Hold fire on fixing home loans
ANZ chief executive Mike Smith has warned mortgage holders not to fix their home loan rates yet, saying interest rates may continue to fall. (Thu, 07 May 2009 14:00:00 GMT)

U.S. Fixed 30-Year Mortgage Rate Rises, Freddie Says (Update1)
May 7 (Bloomberg) -- The average U.S. rate on a 30-year fixed mortgage rose for the first time in four weeks, ending a streak of declines spurred by a Federal Reserve plan to buy mortgage-backed securities. (Thu, 07 May 2009 14:23:55 GMT)

In South Florida, boom-era home buyers sinking in mortgage debt
Though the South Florida housing market is showing faint signs of recovery as sales rise, homeowners are still sinking in mortgage debt that exceeds the value of their property - a sign that more foreclosures may be on the horizon. (Thu, 07 May 2009 14:29:09 GMT)

Mortgages: Mortgage rates rise off record lows
Mortgage rates rose this week after news reports suggested the economy may be approaching the bottom of the recession, Freddie Mac’s chief economist said on Thursday. (Thu, 07 May 2009 14:49:09 GMT)

Home loan program for seniors needs $798M rescue
Falling home prices have forced the government to ask Congress for a taxpayer subsidy to prop up a program that lets senior citizens take out reverse mortgages. (Thu, 07 May 2009 15:36:47 GMT)

Home loan program for seniors needs $798M rescue
Falling home prices have forced the government to ask Congress for a taxpayer subsidy to prop up a program that lets senior citizens take out reverse mortgages. (Thu, 07 May 2009 15:36:47 GMT)

Fixed Mortgage Rates Rise in U.S., Freddie Mac Says (Update2)
May 7 (Bloomberg) -- Fixed U.S. mortgage rates rose for the first time in four weeks, ending a streak of declines spurred by a Federal Reserve plan to buy mortgage-backed securities. (Thu, 07 May 2009 15:48:48 GMT)

Home loan program for seniors needs $798M rescue
Associated Press - May 7, 2009 11:43 AM ET WASHINGTON (AP) - Falling home prices have forced the government to ask Congress for a taxpayer subsidy to prop up a program that lets senior citizens... (Thu, 07 May 2009 15:58:50 GMT)

Associated adds mortgage protection for unemployed
Associated Bank launched a new initiative Wednesday that will defer monthly mortgage payments for up to 12 months for borrowers who lose their jobs. The Extended Deferral Program for Unemployed Borrowers is part of Associated’s multifaceted program to help customers avoid foreclosure. (Thu, 07 May 2009 17:23:23 GMT)

U.S. commercial property faces default decade: report
At least two-thirds of the $410 billion of U.S. commercial mortgage-backed securities (CMBS) loans that mature from this year through 2018 are not likely to qualify for refinancing, according to a report by Deutsche Bank. (Thu, 07 May 2009 17:51:18 GMT)

Mortgage rates rise, shy of record low
Rates on 30-year mortgages inched up this week after matching an all-time record low a week earlier. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages rose to 4.84 percent this week, down from an average of 4.78 percent last week. (Thu, 07 May 2009 18:07:54 GMT)

Commercial Mortgage Delinquencies in U.S. Rise to 11-Year High
May 7 (Bloomberg) -- Commercial mortgage delinquencies in the U.S. climbed to the highest level in at least 11 years in April as scarce credit made it difficult for landlords to refinance loans, according to property research firm Trepp LLC. (Thu, 07 May 2009 18:21:38 GMT)

Mortgage rates rise, shy of record low
Rates on 30-year mortgages inched up this week after matching an all-time record low a week earlier. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages rose to 4.84 percent this week, down from an average of... Related: Freddie Mac - Mortgage - Tax rate - Mortgage Refinancing Rates - Mortgage Rates Predictions (Thu, 07 May 2009 18:38:42 GMT)

Lawyer harassed over loan he did not take
TEMERLOH: A lawyer and his family are living in fear, having been mistakenly targeted by loan sharks at their home in Taman Siva, Mentakab yesterday. (Thu, 07 May 2009 19:00:07 GMT)

Commercial Mortgage Delinquencies in U.S. Rise to 11-Year High
May 7 (Bloomberg) -- Commercial mortgage delinquencies in the U.S. climbed to the highest level in at least 11 years in April as scarce credit made it difficult for landlords to refinance loans, according to property research firm Trepp LLC. (Thu, 07 May 2009 20:18:55 GMT)

House OKs anti-predatory mortgage bill
Predatory mortgage practices faulted for damaging the global economy and financial markets are one step closer to tighter restrictions. (Thu, 07 May 2009 20:22:34 GMT)

House Passes Mortgage Overhaul Aimed at Curbing Predatory Lending
As Congress works to help struggling homeowners and stabilize the housing industry, the House on Thursday passed legislation to set mortgage standards and to curb some lending practices brought to light by the market's implosion. (Thu, 07 May 2009 20:25:20 GMT)

House Passes Mortgage Overhaul Aimed at Curbing Predatory Lending
As Congress works to help struggling homeowners and stabilize the housing industry, the House on Thursday passed legislation to set mortgage standards and to curb some lending practices brought to light by the market's implosion. (Thu, 07 May 2009 20:25:20 GMT)

Home loan program for seniors needs $798M rescue
Falling home prices have forced the government to ask Congress for a $798 million taxpayer subsidy to prop up a program that lets senior citizens tap the equity in their homes. (Thu, 07 May 2009 21:01:08 GMT)

Mortgage rates up after record
WASHINGTON — Rates on 30-year mortgages inched up this week after matching an all-time record low a week earlier.Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages rose to 4. (Thu, 07 May 2009 22:02:14 GMT)

Swing-District Members Overwhelmingly Back Mortgage Bill
A bill the House passed Thursday that sets mortgage standards and aims to curb predatory lending proved popular with swing-district members. (Thu, 07 May 2009 22:55:18 GMT)

Starwatch consumer | Mortgage rates inch up
Mortgage rates inched up this week but still remained near record lows. The average for a 30-year fixed-rate mortgages rose to 4.84 percent, from 4.78 percent last week. The 15-year fixed average rose from 4.48 percent to 4.51 percent, and five-year adjustables rose from 4.8 percent to 4.9 percent. Rates on one-year adjustables rose from 4.77 percent to 4.78 percent. (Fri, 08 May 2009 03:25:45 GMT)

FHA Seeks $800 Million From Congress to Cover Reverse Mortgage Losses
Because of falling home values, the Federal Housing Administration plans to ask Congress for nearly $800 million in taxpayer money to buttress a mortgage program for seniors. (Fri, 08 May 2009 04:00:00 GMT)

Loan delinquency is juvenile
Admit it: You've toyed with the idea of skipping your monthly mortgage payment just so you'd qualify for one of those special loan "modifications" that... (Fri, 08 May 2009 04:07:46 GMT)

Howard Hanna sets record for mortgage applications
Howard Hanna Mortgage Services set a record for mortgage applications in April with 1,106 and with volume of $164.88 million, a 74 percent increase over the same month last year. (Fri, 08 May 2009 05:03:21 GMT)

Costly lesson: Psychologist less trusting after apparent mortgage fraud ordeal
CHICO -- Gale Dixon Brown began refinancing her spacious west Chico home in early January, but now in early May she is out nearly $12,000 and no closer to having a new loan. (Fri, 08 May 2009 07:10:41 GMT)

Fixed mortgage rates fall
Fixed mortgage rates fell for a third consecutive week, matching the record low reached earlier this month, driven by Federal Reserve Chairman Ben S. Bernanke's plan to buy home-loan securities to bolster the housing market. (Fri, 08 May 2009 07:10:43 GMT)

What mortgage scam victim did wrong, and right
CHICO -- A Chico woman who appears to have been swindled out of nearly $12,000 in a recent mortgage refinance scam made some naive mistakes she would never repeat, but also did some things right, and they may help her recover her loss. (Fri, 08 May 2009 07:10:51 GMT)

Home-loan program for seniors coming up short
— Falling home prices have forced the government to ask Congress for a taxpayer subsidy to prop up a program that lets senior citizens take out reverse mortgages. (Fri, 08 May 2009 07:25:22 GMT)

Mortgage modifications are happening. Get yours
Two months ago, Ivan Coleman was struggling, his mortgage payment having ballooned to $1,200 - more than half his income. Starting June 1, his monthly payment will fall to $725. (Fri, 08 May 2009 10:19:42 GMT)

Mortgage fix may hurt your credit score
Homeowners who cannot pay the mortgage may be desperate to get rid of their obligation. There are many options available -- refinance, loan modification, short sale, deed-in-lieu of foreclosure, foreclosure or bankruptcy. (Fri, 08 May 2009 11:42:16 GMT)

Sean Woodward claims £100k for mortgage
Millionaire Secretary of State Shaun Woodward claimed £100,000 in mortgage interest on one of his flats it has been revealed as the row over MPs’ allowances was spectacularly reignited today. (Fri, 08 May 2009 12:05:28 GMT)

£100K mortgage claim by Woodward
NI Secretary Shaun Woodward claimed £100,000 to help pay his mortgage interest, according to leaked expenses details. (Fri, 08 May 2009 12:10:11 GMT)

Mortgage holders urged to fix rates
Borrowers should take advantage of low fixed-rate mortgages before interest rates start rising again, mortgage brokers have advised. The Bank of England monetary policy committee (MPC) left the base rate unchanged at 0.5% yesterday, and this is expected to be its strategy for several months to come. (Fri, 08 May 2009 12:12:15 GMT)

£100K mortgage claim by Woodward
NI Secretary Shaun Woodward claimed £100,000 to help pay his mortgage interest, according to leaked expenses details. (Fri, 08 May 2009 12:19:56 GMT)

Home-loan program for seniors coming up short
-- Falling home prices have forced the government to ask Congress for a taxpayer subsidy to prop up a program that lets senior citizens take out reverse mortgages. (Fri, 08 May 2009 12:36:07 GMT)

Scottish Mortgage's investments hit by 'fear and panic'
Scottish Mortgage Investment Trust saw its net asset value plunge last year as the company's fund manager was caught on the hop by markets that were gripped by fear and panic. (Fri, 08 May 2009 13:54:00 GMT)

US Federal Reserve Adopts Final Rules on Mortgage Disclosures
WASHINGTON -(Dow Jones)- The Federal Reserve on Friday adopted final rules governing disclosures for all U.S. mortgage loans. The rules, proposed in December 2008, are meant to ensure consumers get cost information early in the mortgage process. (Fri, 08 May 2009 15:26:42 GMT)

Media Advisory: Minister Van Loan Will Make an Announcement Related to the Security Infrastructure Pilot Program
TORONTO, ONTARIO--(Marketwire - May 8, 2009) - The Honourable Peter Van Loan, Minister of Public Safety, will be joined by the Honourable Peter Kent, Minister of State of Foreign Affairs. A brief question and answer period will follow. Members of the media are invited to attend. /T/ Date: Sunday, May 10, 2009 Time: 9:30 a.m. EDT Location: Lipa Green Building for Jewish Community Services - Home ... (Fri, 08 May 2009 16:09:08 GMT)

NIB sticks to mortgage rate stance
National Irish Bank says it will not be passing on yesterday's quarter-point interest rate cut from the European Central Bank to its variable rate mortgage customers. Holders of tracker mortgages automatically benefit from the cut. (Fri, 08 May 2009 17:08:25 GMT)

Home lenders trim short-term fixed rates
Home loan borrowers will be pleased to see more lenders trimming their short-term fixed mortgage rates, but the moves in the past ten days have been small. (Fri, 08 May 2009 17:12:17 GMT)

Fed tightens mortgage-disclosure rules
The Federal Reserve said Friday it has approved final mortgage-disclosure rules aimed at making sure consumers receive cost information earlier in the application process. (Fri, 08 May 2009 18:37:33 GMT)

Ohio mortgage rate falls over week
Mortgage rates in Ohio fell three points over the week, according to Zillow.com., but remained above the national average. (Fri, 08 May 2009 18:55:48 GMT)

Love Funding closes refinance loan for housing complex
Love Funding, a national mortgage-banking firm, said Friday its St. Louis office closed a $4.27 million refinance loan for Lake Broadway Townhomes, a 58-unit market-rate, multifamily housing complex located in Columbia, Mo. (Fri, 08 May 2009 19:46:07 GMT)

Metro Atlanta loan defaults increasing
Defaults on loans better than subprime have increased at a faster pace than subprime defaults, thanks to job losses and plunging home values in metro Atlanta. (Fri, 08 May 2009 21:52:36 GMT)

Bill would spend $532 million to fight mortgage fraud
In a move that received little notice, Congress this week sent to President Obama a bill to appropriate $532 million to investigate mortgage and securities fraud. (Fri, 08 May 2009 21:59:00 GMT)

SCOTT BURNS: Reducing your mortgage through extra payments
There is no reason for you to pay a third party to help you pay your mortgage off early. You can do it for free, in your spare time at home. (Fri, 08 May 2009 23:11:05 GMT)

New FICO site helps borrowers seeking loan modifications
The joint state and federal crackdown on outfits that fail to deliver on promises to help troubled homeowners negotiate loan modifications should be enough to scare the dickens out of anyone who is considering third-party interventions. (Sat, 09 May 2009 02:01:06 GMT)

AG casts wide net in mortgage suits
New Mexico's attorney general is going after everyone from mortgage brokers to banks after accusing them of mortgage frauds that took advantage of two homeowners now facing foreclosure. (Sat, 09 May 2009 02:34:55 GMT)

Voted: Mortgage scams
Bill increases penalties for mortgage fraud and doubles investigators (Sat, 09 May 2009 03:06:44 GMT)

Danbury mortgage company not only thrives, but expands
DANBURY -- When competitors were closing up shop, the founders of Creative Mortgage Financing continued to thrive. (Sat, 09 May 2009 03:14:16 GMT)

The Steps to Mortgage Modification
I have been inundated with letters from borrowers who, for any number of reasons, can no longer afford their mortgage payment, although they could afford a lower payment. They want help getting their mortgages modified. (Sat, 09 May 2009 04:00:00 GMT)

There's More to Refinancing Than Just Lowering Your Interest Rate
With mortgage interest rates near a 50-year low, homeowners are very interested in refinancing. (Sat, 09 May 2009 04:00:00 GMT)

Having some mortgage trouble? Here's help
Maybe the mortgage-delinquency notices are just starting to arrive after a missed payment or two. Or maybe foreclosure is starting to look like a distinct possibility. (Sat, 09 May 2009 04:24:46 GMT)

Mortgage Market Shows Signs of Life
Mirroring the trend that residential sales established in April, mortgage activity showed signs of improvement last month as the spring home buying se.... (Sat, 09 May 2009 05:08:03 GMT)

Ben Bradshaw: Mortgage bill paid on home partowned by boyfriend
Ben Bradshaw a junior health minister switched his second home allowance to enable him to pay the full mortgage interest on a more expensive London terrace house he owned jointly with his civil partner. (Sat, 09 May 2009 06:40:48 GMT)

Peter Boutell, Lending a Hand: No credit crisis in mortgage lending
Despite what you may read in the papers or see on TV, the mortgage industry is making loans and lots of them. (Sat, 09 May 2009 08:51:03 GMT)

Court branches out on mortgage foreclosure cases
The faltering economy is having an effect on how foreclosure cases are being handled in Lake County courts.Due to a nearly 100 percent increase in foreclosures, the 19th Judicial Circuit has announced that it will begin hearing cases in local branch courts.Beginning in June, uncontested mortgage foreclosure cases will be heard in the Park City Branch Court, 301 S. Greenleaf Ave., on select ... (Sat, 09 May 2009 09:20:01 GMT)

Do home improvements boost the value of your property?
Longer daylight hours at this time of year prompt many home owners to tackle DIY projects - but which ones will add most value to their property? (Sat, 09 May 2009 09:38:40 GMT)

Low mortgage rates offer opportunity for refinancing
Are you among the lucky homeowners who still have substantial equity in your property and a stable job, but are short on cash for crucial expenses? If so, now may be a prudent time to refinance your mortgage and take cash out. (Sat, 09 May 2009 10:40:49 GMT)

An Emphasis on Simplicity
Bank of America recently introduced a new Web site that features a ?Home Loan Guide? and a loan with an all-inclusive closing fee. (Sat, 09 May 2009 13:21:51 GMT)

Obama Throws Refinancing Curve Ball
President's assertion that refinancing mortgage loans equates to tax cut isn't that cut and dry • NASA Privatizes Some of Space Program | PHOTOS (Sat, 09 May 2009 13:26:29 GMT)

Unemployment Rate Threatens Obama's Jobs Goal- Obama Throws Mortgage Refinancing Curveball
President Obama has vowed to create 3.5 million jobs by 2010. But the latest unemployment report shows Obama will have his work cut out for him. (Sat, 09 May 2009 17:11:29 GMT)

Peter Boutell, Lending a Hand: No credit crisis in mortgage lending
Despite what you may read in the papers or see on TV, the mortgage industry is making loans and lots of them. (Sat, 09 May 2009 18:15:24 GMT)

Senate votes to ease mortgage terms
WASHINGTON — Trying to curb home foreclosures, the Senate voted Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. (Sat, 09 May 2009 18:20:02 GMT)

Detroit councilman walks away from his mortgage
Around the country, the practice, sometimes referred to as 'mortgage walking' or 'jingle mail,' appears to be growing. But for Detroit Councilman Kwame Kenyatta, the decision could do more than hurt his credit rating. It could hurt his bid for mayor. (Sat, 09 May 2009 19:01:47 GMT)

See whether you can get mortgage relief available to 9 million American homeowners
The following are key excerpts from the federal government's Q&A about the new program that the Obama administration says should cut mortgage bills for up to 9 million Americans who are having troubling making their monthly payments. (Sat, 09 May 2009 19:28:40 GMT)

Mortgage rates as low as 2 percent part of new program to help 9 million homeowners
The Obama administration kicked off a new program Wednesday that's designed to help up to 9 million borrowers stay in their homes through refinanced mortgages or loans that are modified to lower monthly payments.    Find out how you can get mortgage relief    More real estate news, databases (Sat, 09 May 2009 19:28:51 GMT)

Do you qualify for a new mortgage?
The Obama administration's new mortgage relief plan, launched Wednesday, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Are you one of them? (Sat, 09 May 2009 19:29:11 GMT)

Fed's move to unlock lending could send mortgage rates below 5 percent
The Federal Reserve threw more than a trillion dollars at the gridlocked credit and housing markets Wednesday. Mortgage rates were expected to drop well below 5 percent in response.    More real estate news (Sat, 09 May 2009 19:30:49 GMT)

Two Milpitas mortgage brokers sentenced in $8M theft, forgery case
Two Milpitas mortgage brokers who were convicted of multiple counts of grand theft and forgery in an $8 million fraud case involving sub-prime mortgages will spend most of the next two decades in state prison. (Sat, 09 May 2009 19:33:54 GMT)

Big effort underway to save family's dream home
HERNANDO COUNTY (Bay News 9) -- Volunteers are trying to help a family move into their Habitat for Humanity home in Brooksville. (Sat, 09 May 2009 20:12:33 GMT)

Exclusive: Confessions of a Mortgage Scammer
Mortgage crook admits crime, but blames banks for not "stopping the madness." (Sat, 09 May 2009 23:10:02 GMT)

Foreclosure provides a new home for CASA's foster children
WATSONVILLE -- When housing prices started to slide, advocates for foster children saw an opportunity to buy a home, replacing their cramped office space on the third floor of the former Watsonville hospital with a kid-friendly place. (Sun, 10 May 2009 01:30:43 GMT)

First home buyers feel pain
MORE than 1.3 million households are suffering mortgage stress despite low interest rates, a survey has found. First home buyers are feeling the pain most. (Sun, 10 May 2009 05:15:00 GMT)

Mortgage stress for one in four households
MORE than 1.3 million households are suffering mortgage stress despite low interest rates, a new survey has found. (Sun, 10 May 2009 06:32:00 GMT)

Mortgage stress affects one in four
MORE than 1.3 million households are suffering mortgage stress despite low interest rates, survey finds. (Sun, 10 May 2009 06:32:00 GMT)

Fed tightens mortgage-disclosure rules
Fed tightens mortgage-disclosure rules (Sun, 10 May 2009 07:09:25 GMT)

Qualify for loan, then pick a house
Question: Now that housing prices have dropped and mortgage rates are low, we have decided that we are finally ready to buy a home. What do we do first, where do we start? (Sun, 10 May 2009 07:10:59 GMT)

Mortgage issues clobber Genworth
RICHMOND, Va. -- Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer said it plans to sell up to 49 percent of its Canadian mortgage insurance business to raise cash. (Sun, 10 May 2009 07:17:26 GMT)

Paying a little extra can save money on home mortgage
Dear Action Line: What are some ways to bring down mortgage payments without refinancing? — L.T., Broken Arrow. Bankrate.com is a good source of information on everything from credit card rates to mortgage rates. Here are its tips on saving money on your mortgage and your house. (Sun, 10 May 2009 07:34:00 GMT)

Carney supports Mortgage Reform and Predatory Lending Act of 2009
FOR THE REVIEW WASHINGTON, D.C — Congressman Carney recently voted to stop the irresponsible mortgage loan practices that brought about the current housing crisis, according to a press release from his office. (Sun, 10 May 2009 07:35:42 GMT)

Mortgage rates up slightly from all-time low
Rates on 30-year mortgages inched up last week after matching an all-time record low a week earlier. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages rose to 4.84 percent last week from an average of 4.78... (Sun, 10 May 2009 07:46:14 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, 10 May 2009 08:03:49 GMT)

Loan defaults increasing
Defaults on loans better than subprime have increased at a faster pace than subprime defaults, thanks to job losses and plunging home values in metro Atlanta. (Sun, 10 May 2009 08:15:19 GMT)

Foreclosure provides a new home for CASA's foster children
WATSONVILLE -- When housing prices started to slide, advocates for foster children saw an opportunity to buy a home, replacing their cramped office space on the third floor of the former Watsonville hospital with a kid-friendly place. (Sun, 10 May 2009 08:36:55 GMT)

Study finds home loan rates differ for blacks, whites
Black homeowners in Tuscaloosa County are much more likely to pay higher interest rates than whites regardless of income and amount borrowed, a University of Alabama analysis of federal data shows. (Sun, 10 May 2009 08:45:03 GMT)

Bills target mortgage problems
WASHINGTON -- Congress took action on three bills last week responding to the mortgage crisis. (Sun, 10 May 2009 09:22:59 GMT)

Mortgage stress hits 25% of households
More than 1.3 million households are suffering mortgage stress despite low interest rates, a new survey has found. (Sun, 10 May 2009 14:02:32 GMT)

Paying a little extra can save money on home mortgage
Dear Action Line: What are some ways to bring down mortgage payments without refinancing? — L.T., Broken Arrow. (Sun, 10 May 2009 17:22:10 GMT)

Mortgage stress is rife
A new survey's found more than one million households are suffering mortgage stress despite low interest rates. (Sun, 10 May 2009 20:05:16 GMT)

Households under mortgage stress
More than a million households are suffering mortgage stress despite low interest rates, a new survey has found. (Sun, 10 May 2009 20:22:15 GMT)

Weekly CFO Buy Highlights: Cavium Networks, Covanta Holding (CVA), MFA Mortgage Investments, ...
According to GuruFocus Insider Data , these are the largest CFO buys during the past week: Cavium Networks Inc. ( CAVM ), Covanta Holding Corp. ( CVA ), MFA Mortgage Investments Inc. ( MFA ), Nara Bancorp Inc. ( NARA), and First South Bancorp Inc ( FSBK ). Cavium Networks Inc. ( CAVM ): VP Finance & Admin CFO Arthur D Chadwick Bought 50,000 Shares VP Finance & Admin CFO of Cavium Networks Inc. ( ... (Sun, 10 May 2009 22:04:21 GMT)

Mortgage stress hits 25pc of Aussie households
More than 1.3 million households are suffering mortgage stress despite low interest rates, a new survey has found. Independent market analyst Datamonitor found that almost a quarter of mortgage holde (Sun, 10 May 2009 22:34:04 GMT)

Australians suffering mortgage stress
More than 1 million Australian households are suffering mortgage stress despite low interest rates, a new survey has found. (Sun, 10 May 2009 22:54:07 GMT)

1.3m feeling mortgage stress
MORE than 1.3 million households are suffering mortgage stress despite low interest rates, a new survey has found. (Sun, 10 May 2009 23:14:00 GMT)

Canstar Cannex Releases Home Loan Star Ratings
CANSTAR CANNEX has just released the latest Star Ratings for home loans in New Zealand. Attached is a copy of the Star Ratings and the media release, which are also published on www.canstar.co.nz (Mon, 11 May 2009 00:26:55 GMT)

IPPR calls for cap on mortgage lending
Strict new controls on mortgage lending are crucial if Britain is to avoid further house price bubbles in the future, a leading think tank with close links to the Government will say today. (Mon, 11 May 2009 01:03:05 GMT)

Mortgage rates moving back up
Procrastinators beware: Mortgage rates are beginning to rebound from record lows as the U.S. economy shows more and more signs of stabilizing. "Rates are still low,... (Mon, 11 May 2009 04:20:19 GMT)

Home loan quagmire
Bad debt at the Federal Housing Administration could send the nation's already wobbly economy into yet another tailspin, U.S. Rep. Stephen Lynch told the Herald in an... (Mon, 11 May 2009 04:20:49 GMT)

Carney supports Mortgage Reform and Predatory Lending Act of 2009
FOR THE REVIEW WASHINGTON, D.C — Congressman Carney recently voted to stop the irresponsible mortgage loan practices that brought about the current housing crisis, according to a press release from his office. (Mon, 11 May 2009 05:05:52 GMT)

Do homework before refinancing
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, 11 May 2009 05:44:55 GMT)

Chris Grayling claimed for London flat despite nearby constituency home: MPs expenses
Chris Grayling the shadow home secretary claimed thousands of pounds to renovate a flat in central London - bought with a mortgage funded at taxpayers' expense even though his constituency home is less than 17 miles from the House of Commons. (Mon, 11 May 2009 06:26:13 GMT)

Home cracked home / Layton man to North Salt Lake residents: 'Life goes on' after disruptive landslides
The Eggett family in 2006 lost their home at 1843 E. Sunset Drive in Layton when the parcel it was on slid 3 feet within a two-week period, creating a fissure that tore through the foundation of the home. (Mon, 11 May 2009 06:30:06 GMT)

Beware of 4 costly mortgage fees
Lenders are pumping up other charges to compensate for the lower interest rates that are luring many buyers back into the housing market. (Mon, 11 May 2009 07:01:36 GMT)

Travis to Raise 300 Million Pounds to Reduce Debt (Update1)
May 11 (Bloomberg) -- Travis Perkins Plc , the U.K. building materials supplier that owns the Wickes home-improvement chain, plans to raise 300 million pounds ($450 million) in a rights offering to help ride out the economic slump without breaking its loan agreements. (Mon, 11 May 2009 08:39:15 GMT)

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