Mortgage News May 2009

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Mortgage broker who fled to Jamaica appears in federal court Tuesday
A South Florida mortgage broker who fled to Jamaica in 2006 appeared this morning before a Fort Lauderdale federal judge on charges she masterminded a multimillion dollar mortgage fraud conspiracy. (Tue, 19 May 2009 14:57:39 GMT)

Beazer Mortgage to refund millions to NC borrowers
North Carolina banking officials say Beazer Mortgage Corp. will refund $2.5 million to more than a thousand borrowers to settle claims it violated state lending laws. (Tue, 19 May 2009 15:01:56 GMT)

Law Students’ Work on Refinance Project Keeps Shaw’s Plaza Open
For the second time in 10 years, students in a Yale Law School clinic played a major role in the revitalization of New Haven's Greater Dwight neighborhood - this time, by overseeing the $11.5 million refinancing of the Shaw's Shopping Center on Whalley Avenue (Tue, 19 May 2009 15:31:50 GMT)

Small Banks See Opportunity in Mortgages
Small banks see an opportunity as bigger competitors are buried under an avalanche of mortgage refinancing and loan restructuring work. (Tue, 19 May 2009 15:42:30 GMT)

Housing Market and Real Estate Headlines
Since mortgage lenders are offering record low rates, many people are considering refinancing. But there are some things to keep in mind when looking for a bank that will work for you. (Tue, 19 May 2009 15:44:27 GMT)

NAACP FILES LANDMARK LAWSUIT AGAINST MAJOR HOME MORTGAGE COMPANIES FOR DISCRIMINATORY LENDING
The NAACP filed suit in Los Angeles federal court against 14 of the country’s largest lenders, alleging systematic, institutionalized racism in sub-prime home mortgage lending. This is the first known lawsuit that challenges such lending practices on a broad scale. (Tue, 19 May 2009 15:54:12 GMT)

FTC Obtains Court Order Halting Deceptive Mortgage Relief Internet Ads; Marketers Falsely Claimed to Operate ...
At the Federal Trade Commission's request, a federal district court issued an order to stop an Internet-based operation that pretends to operate "MakingHomeAffordable.gov," the official Web site of the federal Making Home Affordable program for free mortgage loan assistance. (Tue, 19 May 2009 15:56:29 GMT)

Pag-Ibig home financing loan increased to P3 million
CEBU, Philippines – Pag-IBIG Fund has increased the loan for the Pag-IBIG Fund End-User Home Financing Program from P2 million to P3 million effective last April 1, 2009. (Tue, 19 May 2009 16:14:31 GMT)

Ways 2 Save: Refinancing Your Car
Most of us have at least thought about refinancing our home to get a better interest rate. It's something banks and credit unions are seeing a lot of these days. But what about refinancing your car? (Tue, 19 May 2009 17:37:07 GMT)

Beazer Mortgage to refund millions to N.C. borrowers
Beazer Mortgage Corp., a subsidiary of Atlanta-based Beazer Homes USA, will pay $2.5 million in restitution to about 1,600 North Carolina borrowers, according to a settlement with the state's Office of the Commissioner of Banks. (Tue, 19 May 2009 18:10:05 GMT)

4 arrested in Shelbyville mortgage fraud case
Four persons have been arrested in a $30 million mortgage fraud scheme involving some 300 homes in Shelbyville. Charged with bank fraud and money laundering were Roger Dwight Ritch, 52, of Shelbyville; William Thomas McMahan, 52, of Murfreesboro; Jonathan B. (Tue, 19 May 2009 18:31:37 GMT)

MPs face cap on mortgage claims
MPs will have the amount they can claim for mortgage or rent capped at £1,250 a month, under proposed reforms. (Tue, 19 May 2009 18:54:51 GMT)

US House OKs Housing Bill In 367-54 Vote
WASHINGTON -(Dow Jones)- The House of Representatives voted overwhelmingly Tuesday to approve a bill to bolster U.S. banks and revamp federal home-mortgage programs, taking the measure one step closer to being signed into law by U.S. President Barack Obama. (Tue, 19 May 2009 19:53:18 GMT)

House Passes Mortgage Bill, Expands FDIC Credit Line (Update1)
May 19 (Bloomberg) -- The U.S. House of Representatives approved mortgage legislation that will help the Federal Deposit Insurance Corp. rebuild the insurance fund at a faster pace and reduce an emergency assessment on lenders. (Tue, 19 May 2009 20:23:58 GMT)

Home loan at 8% Mumbai, May 19:
The Union Bank of India today froze interest rates for new home loans up to Rs 50 lakh at 8 per cent for one year. The scheme will be applicable for loans taken up to September 30, 2009. After one year, the rate will go back to floating rates till the loan is fully repaid, the bank said. (Tue, 19 May 2009 20:57:28 GMT)

Congress Passes Mortgage Bill, Expanding FDIC Borrowing Powers
May 19 (Bloomberg) -- Congress passed mortgage legislation that will help the Federal Deposit Insurance Corp. rebuild the insurance fund at a faster pace and reduce an emergency fee on lenders, sending the bill to President Barack Obama . (Tue, 19 May 2009 23:18:56 GMT)

Super to pay off mortgage
We are retired and considering using our super to pay off our mortgage. Is this a good idea? (Wed, 20 May 2009 03:06:05 GMT)

A Battle Plan for Refinancing Your Mortgage
There has rarely been a better time to refinance your home, but the process has never been more difficult. Here's what you need to know before you apply. (Wed, 20 May 2009 04:09:48 GMT)

CDBG program helps Hopkins residents with home
Remodeling a home can be costly, but low- to moderate-income residents in Hopkins have an option for financial assistance. The city receives funds each year to operate its Housing Rehabilitation Loan and Grant Program. (Wed, 20 May 2009 06:47:40 GMT)

Be sure to protect yourself when refinancing home
With near-record low interest rates a lot of people are refinancing their mortgage, but before you do you need to know how to protect yourself should you become the victim of fraud. (Wed, 20 May 2009 09:19:50 GMT)

Reconsider refinance if move is likely
Ask yourself where you want to live before making other important decisions about a mortgage. (Wed, 20 May 2009 10:00:00 GMT)

Lloyds' new mortgage: marketing ploy or real help for firsttime buyers?
Will Lloyds TSB's new "Lend a Hand" mortgage help firsttime buyers afford a property? We asked the experts what they thought. (Wed, 20 May 2009 11:00:50 GMT)

Lloyds launches 95% mortgage
Lloyds TSB has launched a new mortgage specifically aimed at first-time buyers who have not been able to save up a large enough deposit to finance their house purchase. (Wed, 20 May 2009 11:13:54 GMT)

Mortgage fees row MP 'was misled'
A Wirral Labour MP hits back in the row over his mortgage expenses, insisting he has "done nothing wrong". (Wed, 20 May 2009 11:21:15 GMT)

Mortgage applications rose 2.3% last week: MBA
The volume of mortgage applications filed last week rose a seasonally adjusted 2.3% compared with the week before, as mortgage rates fell, the Mortgage Bankers Association reports. (Wed, 20 May 2009 11:22:33 GMT)

Lloyds offers 95% mortgage - with a catch
Lloyds TSB today became only the fourth high street lender to offer a mortgage to first-time buyers with just a 5% deposit, but the deal comes with a catch. (Wed, 20 May 2009 11:33:43 GMT)

US Mortgage Applications Rose 2.3% Last Week: MBA
The volume of mortgage applications filed last week rose a seasonally adjusted 2.3% compared with the week before as mortgage rates fell, the Mortgage Bankers Association reported Wednesday. (Wed, 20 May 2009 11:42:32 GMT)

Payment reduction and refinancing
The federal government's Making Home Affordable program is intended to help current homeowners remain in their homes even if they are struggling to make their mortgage payment. (Wed, 20 May 2009 11:42:36 GMT)

Don't let PMI stop you from refinancing
Dear Dr. Don, I am confused about whether I should refinance. I have a 30-year, fixed-rate mortgage at 6.75 percent interest. My wife and I would like to move into a bigger home. We have three kids at home plus a mother-in-law. (Wed, 20 May 2009 11:43:13 GMT)

Mortgage Rate Search
Whether you're wondering if you have enough equity to qualify for the best rates, or you're concerned that you're too far upside-down to refinance under the Home Affordable Refinancing plan, the loan-to-value ratio is important. (Wed, 20 May 2009 11:43:25 GMT)

U.S. MBA Mortgage Applications Index Rose 2.3 Percent Last Week
May 20 (Bloomberg) -- Mortgage applications in the U.S. gained last week, helped by lower rates that enticed homeowners to seek refinancing. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan rose 2.3 percent to 915.9 in the week ended May 15, from 895.6 the week before. (Wed, 20 May 2009 12:07:14 GMT)

Mortgage Applications Jump Over 2 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume ticked up over 2 percent last week, as refinance activity jumped over 4 percent. (Wed, 20 May 2009 12:32:10 GMT)

Rising fines for mortgage fraud
Fines levied by the City watchdog against individuals for mortgage fraud overtake levels for the whole of 2008. (Wed, 20 May 2009 12:35:03 GMT)

Mortgage Applications Up Nationwide As Interest Rates Drop
Mortgage applications rose last week, reflecting an increase in demand for home refinancing loans as interest rates trekked lower, data from an industry group showed Wednesday. (Wed, 20 May 2009 13:28:22 GMT)

U.S. mortgage applications rise
Low interest rates spur demand for home refinancing, but home purchase loans, which indicate actual sales, fall (Wed, 20 May 2009 13:33:10 GMT)

U.S. mortgage applications rise
NEW YORK — U.S. mortgage applications rose last week, reflecting an increase in demand for home refinancing loans as interest rates trekked lower, data from an industry group showed Wednesday. (Wed, 20 May 2009 13:33:28 GMT)

MBA: Mortgage activity on the rise
Lower interest rates appear to be luring more homeowners to the table to refinance. (Wed, 20 May 2009 15:35:56 GMT)

U.K. Home-Loan Delinquencies Worse Than for Subprime (Update1)
May 20 (Bloomberg) -- Delinquencies on some U.K. non- conforming home loans exceed those by subprime borrowers in the U.S., and losses on the securities they back are accelerating, according to independent research firm CreditSights Inc. (Wed, 20 May 2009 16:37:20 GMT)

AARP, Altria Group, Kraft, PhRMA, Shell Oil, Toyota, and Federal Home Loan Bank of San Francisco among Distinguished ...
No Related Stories at this time! (Wed, 20 May 2009 16:54:44 GMT)

Caja Madrid to Skip Interest on Mortgage Bonds as Defaults Soar
May 20 (Bloomberg) -- Caja Madrid, Spain’s second-largest savings bank, will skip a total of 1.12 million euros ($1.5 million) of interest payments on its mortgage-backed bonds this week, making it the nation’s first lender to succumb to soaring home-loan defaults. (Wed, 20 May 2009 17:15:17 GMT)

Caja Madrid Mortgage Bond to Skip Interest on Arrears (Update1)
May 20 (Bloomberg) -- Caja Madrid, Spain’s second-largest savings bank, will skip a total of 1.12 million euros ($1.5 million) of interest payments on mortgage-backed bonds this week, the nation’s first real-estate debt to succumb to soaring home-loan defaults. (Wed, 20 May 2009 17:53:17 GMT)

Mortgage applications rise as interest rates drop
Mortgage applications rose last week, reflecting an increase in demand for home refinancing as interest rates fell, an industry group said Wednesday. (Wed, 20 May 2009 19:14:06 GMT)

Fannie Mae names new family mortgage business head
Fannie Mae on Wednesday named Karen Pallotta, a 19-year veteran of the government-backed mortgage guarantor, to head its single-family mortgage business, beginning June 1. (Wed, 20 May 2009 19:14:08 GMT)

FBI using wiretaps to sniff out mortgage fraud
A recently created FBI team is setting priorities on mortgage fraud investigations, and the bureau is using undercover operations, wiretaps and computer technology to get evidence of economic crimes, the agency's chief said Wednesday. (Wed, 20 May 2009 19:36:06 GMT)

Compare mortgage rates: Find rates in your area
Rates can vary by location. Select the closest city or enter the ZIP code for where you're looking to get a mortgage. To get an estimated payment enter the approximate amount you plan to borrow. Rates are quoted on expectation of either a 5% or 20% down payment. (Wed, 20 May 2009 20:12:36 GMT)

MP made claim for 'non-mortgage'
A Tory whip claimed mortgage interest on his constituency home even though the house had not had a mortgage on it. (Wed, 20 May 2009 21:20:00 GMT)

Obama signs mortgage bill into law
President Barack Obama said homeowners facing foreclosure would have a second chance under a measure he signed into law on Wednesday, but he added consumers still must live within their means. The law encourages banks to spare homeowners from foreclosure and... Related: Barack Obama - White House - East Room - Foreclosure - Mortgage (Wed, 20 May 2009 21:38:18 GMT)

Obama Signs Homeowner Assistance, Mortgage Fraud Crackdown Laws
(RTTNews) - President Barack Obama Wednesday signed what he called a pair of "landmark" bills to protect hardworking Americans, crack down on mortgage fraud and seek to prevent a recurrence of the present financial crisis. (Wed, 20 May 2009 23:16:56 GMT)

House votes to expand veterans' home loan program
The proposal would make home loans from the Oregon War Veterans' Fund available to all military veterans, not just those who went to war. (Thu, 21 May 2009 00:04:38 GMT)

Vail Valley mortgage environment is still changing
Not long ago, people applying for a mortgage in the Vail Valley essentially needed a pulse and a stopwatch. Times have changed. (Thu, 21 May 2009 00:17:19 GMT)

Federal Home Loan Bank of Seattle Announces First Quarter 2009 Financial Results
SEATTLE----Today, the Federal Home Loan Bank of Seattle filed its first quarter 2009 Form 10-Q with the Securities and Exchange Commission . The Seattle Bank reported a net loss of $16.2 million for the three months ended March 31, 2009, a decrease of $47.7 million from net income of $31.5 million for the same period in 2008. (Thu, 21 May 2009 00:45:00 GMT)

3 Plead Guilty in Kansas City-area Mortgage Scam
Three more people have pleaded guilty in a $12.6 million mortgage scam in the Kansas City-area. (Thu, 21 May 2009 03:21:47 GMT)

Inside the fiasco that led to the mortgage mess
By the end of 2008, a record 5.4 million homeowners were delinquent on their mortgages or in foreclosure. Over the course of six months, Dateline NBC spoke to Countrywide insiders about the unethical practices that led to their institution's collapse, and whistleblowers who explained how the U.S. got into the mortgage mess. (Thu, 21 May 2009 05:51:07 GMT)

CDBG program helps Hopkins residents with home
Remodeling a home can be costly, but low- to moderate-income residents in Hopkins have an option for financial assistance. The city receives funds each year to operate its Housing Rehabilitation Loan and Grant Program. (Thu, 21 May 2009 06:43:16 GMT)

Total mortgage lending falls back
The amount of money lent to home owners by mortgage lenders fell back again in April, the Council of Mortgage Lenders says. (Thu, 21 May 2009 09:03:14 GMT)

MPs' expenses: Michael Fallon claimed £8300 too much in mortgage expenses
Michael Fallon a senior Conservative MP claimed £8300 too much in expenses for the mortgage on his second home. (Thu, 21 May 2009 09:38:11 GMT)

Mortgage rates up slightly
The benchmark 30-year fixed mortgage rose to 5.24 percent, according to Bankrate's weekly survey. (Thu, 21 May 2009 10:00:00 GMT)

FOR MORTGAGE PROBLEMS, JUST CALL A PROFESSIONAL
A few months ago, a reader phoned because he was upset with a major bank. "I should just get my gun and go down there," I remember him saying. His sister was having trouble with the bank that held the mortgage to her Long Island home. She... (Thu, 21 May 2009 10:36:09 GMT)

Mortgage lending eases in April
Mortgage lending fell by 9% in April from the previous month and by 60% compared with the same time last year, according the Council of Mortgage Lenders (CML). (Thu, 21 May 2009 11:16:00 GMT)

(AFX UK Focus) 2009-05-21 12:18 BASIS POINT-Foster's tapping market for US$300 mln loan
HONG KONG, May 21 (Reuters Basis Point) - Foster's Group Ltd , Australia's largest brewer, is the latest Australian corporate to seek funding from Asian banks as it looks to raise $300 million in three-year financing, banking sources said. With liquidity constrained in their home market, Australian corporates have been targeting Asian bank liquidity in recent weeks. Foster's loan arrives in Asia ... (Thu, 21 May 2009 11:30:42 GMT)

Mortgage lending down again
Mortgage lending has fallen again, suggesting it is too early to talk about a housing market recovery. (Thu, 21 May 2009 11:43:14 GMT)

Mortgage lending falls by 9% in April
The total amount of mortgage lending fell by 9 per cent during April, dampening hopes that the housing market is on the road to recovery, according to figures from the Council of Mortgage Lenders. (Thu, 21 May 2009 11:58:55 GMT)

Federal Home Loan Bank of Pittsburgh Implements Rockall’s Collateral Management System
STOC offers enterprisewide, real-time operational capability to value, monitor and manage collateral of all types and for all lines of business. (Thu, 21 May 2009 14:01:27 GMT)

Mortgage rates tick up; 30-year at 5.24%
Are mortgage rates on the way up or down? It depends on whom you ask. (Thu, 21 May 2009 14:10:55 GMT)

Mortgage interest rates drop slightly
WASHINGTON, May 21 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell slightly in the week ending May 21, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 21 May 2009 14:48:00 GMT)

3 plead guilty in Kansas City-area mortgage scam
Three more people have pleaded guilty in a $12.6 million mortgage scam in the Kansas City-area. Acting U.S. Attorney Matt J. Whitworth announced Wednesday that 35-year-old Steven M. (Thu, 21 May 2009 15:03:48 GMT)

Freddie Mac: 30-year Mortgage Average Edges Down
Freddie Mac: 30-year Mortgage Average Edges Down (Thu, 21 May 2009 15:04:38 GMT)

Federal Home Loan Bank of Atlanta Provides Credit Support for Tax-Exempt Municipal Bonds to Stimulate Community ...
Federal Home Loan Bank of Atlanta today announced that it recently utilized new authority approved by Congress to provide letters of credit for non-housing-related tax-exempt bond transactions, stimulating community economic development and lowering the cost of borrowing for public finance projects. (Thu, 21 May 2009 15:13:00 GMT)

£1bn rescue bill could force home loan rates up
£1bn rescue bill could force home loan rates up (Thu, 21 May 2009 15:39:57 GMT)

Mortgage rates dip, remain above record lows
Low rates have sparked a surge in refinancing activity. (Thu, 21 May 2009 15:53:40 GMT)

Mortgage Rates Fall in U.S. for 30-Year Fixed Loans (Update2)
May 21 (Bloomberg) -- Fixed mortgage rates for 30-year U.S. home loans fell for the first time in three weeks as a Federal Reserve program of buying home-loan securities reduced rates. (Thu, 21 May 2009 16:18:35 GMT)

Freddie Mac: U.S. Mortgage Rates Fell in Latest Week
U.S. mortgage rates fell in the latest week, trekking closer to a record low set last month. (Thu, 21 May 2009 17:06:17 GMT)

Mortgage claim MP will stand down
Labour MP Ben Chapman says he will not seek re-election after reportedly claiming allowances for mortgage interest he no longer paid. (Thu, 21 May 2009 17:29:42 GMT)

Mortgage rates dip, remain above record lows
Rates on 30-year mortgages inched down this week, remaining below 5% for the tenth consecutive week, and just above record lows. (Thu, 21 May 2009 18:06:38 GMT)

30-Year Mortgage Rates Hold Steady on Fed Moves, Survey Finds
Long-term mortgage rates held steady for the week ended May 21 as moves by the government to keep rates low continue to take effect, according to Freddie Mac’s (FRE) latest survey. (Thu, 21 May 2009 18:33:48 GMT)

Mortgage rates 'all over the map'
Home mortgage rates were mixed this week, with the average 30-year ticking higher, according to a report released Thursday. (Thu, 21 May 2009 20:33:54 GMT)

Local conferences to detail mortgage modification
Millions of homeowners are facing foreclosure, including thousands who are Northern California residents, falling behind on their mortgage or simply finding themselves facing financial problems because of the economic downturn. (Thu, 21 May 2009 23:10:35 GMT)

Realty Q&A: Expanding home-buyer tax credit to all is on table
Is there any possibility that the tax credit for first-time home buyers will be expanded to also include repeat purchasers who already own a house but would like to move up? (Thu, 21 May 2009 23:22:43 GMT)

For One Reporter, a Personal Journey Through the Mortgage Meltdown
In the latest report of his Making Sen$e series, Paul Solman talks to New York Times economics reporter Ed Andrews, who chronicles his personal tale of the mortgage crisis in "Busted: Life Inside the Great Mortgage Meltdown." (Fri, 22 May 2009 01:43:16 GMT)

Board That Punishes Problem Mortgage Lenders Called Ineffective
The board in charge of sanctioning mortgage lenders who violate Federal Housing Administration policies is ineffective and slow at a time when the volume of loans backed by the agency is exploding, according to an inspector general's report scheduled for release today. (Fri, 22 May 2009 03:53:30 GMT)

Local conferences to detail mortgage modification
Millions of homeowners are facing foreclosure, including thousands who are Northern California residents, falling behind on their mortgage or simply finding themselves facing financial problems because of the economic downturn. (Fri, 22 May 2009 05:26:25 GMT)

30-year mortgage rates fall slightly
Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dipped slightly to 4.82 percent this week, down from an average of 4.86 percent last week. (Fri, 22 May 2009 07:03:33 GMT)

Mortgage lending rates fall further in recession
Mortgage lending continued to weaken during April after falling to an eight-year low in March, a Bank of |England report has said. (Fri, 22 May 2009 08:05:58 GMT)

Alliance ? Leicester relaxes mortgage lending criteria
Alliance ? Leicester is to reduce the size of the deposit that borrowers need to qualify for its best mortgage rates. (Fri, 22 May 2009 08:49:52 GMT)

Mortgage rate inches down in Ohio, up in Ky.
Mortgage rates fell slightly in Ohio over the week, and rose in Kentucky, with both states remaining above the national average, according to Zillow.com. (Fri, 22 May 2009 10:10:38 GMT)

30-year fixed mortgage rates decline to 4.82%
Fixed mortgage rates for 30-year U.S. home loans fell for the first time in three weeks as a Federal Reserve program of buying home-loan securities reduced rates. (Fri, 22 May 2009 11:00:01 GMT)

U.S. mortgage rates fall again
Mortgage rates remain low as the Federal Reserve continues to make moves to keep them that way. (FRE) (Fri, 22 May 2009 15:17:23 GMT)

Mortgage rates 'to rise' because of FSCS costs say building societies
Six out of 10 building societies think they will have to raise their mortgage rates to cover the cost of compensating savers of failed banks. (Fri, 22 May 2009 16:19:58 GMT)

Federal Home Loan Bank of Pittsburgh deploys Rockall collateral management system
Rockall Technologies announced today that the Federal Home Loan Bank of Pittsburgh has implemented Rockall's Systematic Tracking of Collateral (STOC) ... (Fri, 22 May 2009 16:35:00 GMT)

TALF Use for Home-Loan Debt Poses Hurdles, Fed Official Says
May 22 (Bloomberg) -- A Federal Reserve official said the central bank faces challenges in expanding its Term Asset-Backed Securities Lending Facility to residential mortgage-backed securities, a key facet of the U.S. plan to lift prices and rid banks of the devalued bonds to boost lending. (Fri, 22 May 2009 17:39:51 GMT)

Mortgage Investors Fear Safe Harbor Law
The quiet passage of a loan modification law unnerves investors. (Fri, 22 May 2009 19:13:37 GMT)

New home appraisal rules: Good or bad for customers, appraisers?
A new rule intended to prevent fraudulent appraisals has many in the real estate industry fuming, and some complain it's boosting the cost of having an expert evaluate a home. At the urging of the New York State Attorney General, as of May 1, McLean, Va.,-based Freddie Mac and Washington, D.C.,-based Fannie Mae will no longer purchase mortgages from loan originators that do not adopt the Home ... (Fri, 22 May 2009 19:37:56 GMT)

TALF for Home-Loan Debt Poses Hurdles, Official Says (Update2)
May 22 (Bloomberg) -- A Federal Reserve official said the central bank faces challenges in expanding its Term Asset-Backed Securities Lending Facility to residential mortgage-backed securities, a key facet of the U.S. plan to boost prices and rid banks of devalued bonds to increase lending. (Fri, 22 May 2009 19:44:39 GMT)

N.J. puts home buyer tax credit loan on hold
Lisa Fleisher/The Star-LedgerFor sale signs in Bergen CountyNew Jersey has hit the brakes on a program that would provide up-front funds for home buyers eligible for an $8,000 federal stimulus tax credit. The state says it is waiting on guidance... (Fri, 22 May 2009 19:49:31 GMT)

LI loan officer charged in mortgage scam
As a Garden City loan officer, Anita Bareja approved applications like the one from a purported sales manager earning $15,000 a month, prosecutors said Friday. (Fri, 22 May 2009 20:04:18 GMT)

First-Time Home Buyers Can Turn Tax Credit Into Cash
The $8,000 federal tax credit for first-time home purchasers is about to morph into a ready-cash down payment source, thanks to a federal policy change. (Fri, 22 May 2009 20:36:30 GMT)

Spotlight: Lloyds TSB Lend a hand mortgage
Lloyds TSB's new Lend a Hand mortgage is designed to help first-time buyers onto the property ladder as it is available for loans up to 95 per cent of the property ladder. The rate is fixed at 4.39 per cent for three years – which is highly competitive and there is a £995 arrangement fee. (Fri, 22 May 2009 23:17:37 GMT)

The Mortgage Professor: Some People Are Just Meant to Be Renters
Some people are not cut out to be homeowners. I call them NOHOs. What distinguishes them is not their income, their mobility, or where they live -- rather, it is how they live. (Sat, 23 May 2009 01:12:54 GMT)

Bridge loan, cash advance are new uses for tax credit
The $8,000 federal tax credit for first-time home purchasers is about to morph into a ready-cash down payment source, thanks to a new federal policy change. (Sat, 23 May 2009 04:04:13 GMT)

Local conferences to detail mortgage modification
Millions of homeowners are facing foreclosure, including thousands who are Northern California residents, falling behind on their mortgage or simply finding themselves facing financial problems because of the economic downturn. (Sat, 23 May 2009 05:25:35 GMT)

ABB leader in mortgage credit placement within KFW program
156 clients got mortgage credits totaling AMD 931.8 million. (Sat, 23 May 2009 08:12:55 GMT)

Mortgage trouble? Contact approved HUD agencies
Maybe the mortgage-delinquency notices are just starting to arrive after a missed payment or two. Or maybe foreclosure is starting to look... (Sat, 23 May 2009 09:22:27 GMT)

Mortgage rates rise slightly
Since March, mortgage rates have held fairly steady. That streak didn't end this week, when mortgage rates moved modestly in both directions. (Sat, 23 May 2009 09:30:26 GMT)

Personal Finance Q. & A.: Buying down home loans lowers monthly house payments
Q. I saw an ad in the newspaper for a new home subdivision. The builder was offering buy-down loans as an incentive. What is a buy-down loan? (Sat, 23 May 2009 09:31:47 GMT)

Lenders urged to give more help to mortgage defaulters
MORTGAGE lenders should show more understanding when dealing with missed repayments during the recession, a Lothians MSP has said. (Sat, 23 May 2009 10:04:25 GMT)

N.J. puts home buyer tax credit loan on hold
Lisa Fleisher/The Star-LedgerFor sale signs in Bergen CountyNew Jersey has hit the brakes on a program that would provide up-front funds for home buyers eligible for an $8,000 federal stimulus tax credit. The state says it is waiting on guidance... (Sat, 23 May 2009 10:49:27 GMT)

Pa. Dept. of Banking Suspends Mortgage Broker's License
The state banking department has suspended the license of a Philadelphia mortgage broker. (Sat, 23 May 2009 12:00:14 GMT)

Buyers expand home options
An increasing number of prospective home buyers in the Atlanta area are including foreclosures on their list of homes they are willing to consider. And that represents a major change in the way both buyers and their agents do business. (Sat, 23 May 2009 18:47:34 GMT)

Lloyds TSB launches 95% LTV mortgage
Deal requires 5% deposit and an additional 20% sum locked away in a Lloyds savings account Lloyds TSB has launched a 95% loan-to-value (LTV) mortgage for first-time buyers with a rate of 4.39%, fixed for three years, and a fee of £995. However, buyers wanting to take advantage of the "Lend a hand" deal will not only need to come up with a minimum 5% deposit, they will also need to find another ... (Sat, 23 May 2009 19:19:00 GMT)

FLYNN: MERS keeps track of mortgage loan owner
If you've taken out a mortgage loan recently, you may have been puzzled that, in your documents, something called Mortgage Electronic Registration Systems Inc. (MERS) was named as the owner of your loan. (Sat, 23 May 2009 23:03:48 GMT)

Wealth Check: How do I make the most of my mortgage cuts?
The patient Nadia Kassas, 27, hopes to make savings on her monthly bills after taking out a base rate tracker mortgage and benefiting from a series of dramatic interest rate cuts. (Sat, 23 May 2009 23:11:55 GMT)

Freddie Mac: Mortgage rates fall again
Mortgage rates remain low as the Federal Reserve continues to make moves to keep them that way. (FRE) (Sun, 24 May 2009 02:47:56 GMT)

How to get a bank loan for your business
Getting a bank loan for your business may be more difficult than usual in today’s troubled economy. However, if you give your bank a thorough, organized, and well-supported loan proposal, you’ll increase your chances of getting the money your business needs. (Sun, 24 May 2009 03:32:01 GMT)

Francis W. McGuire: Veterans are eligible for home loan benefit
"Gather around their sacred remains and garland the passionless mounds above them with choicest flowers of springtime ... Let us in this solemn presence renew our pledges to aid and assist those whom they have left among us as sacred charges upon the Nation's gratitude -- the soldier's and sailor's widow and orphan." (Sun, 24 May 2009 04:21:44 GMT)

Local conferences to detail mortgage modification
Millions of homeowners are facing foreclosure, including thousands who are Northern California residents, falling behind on their mortgage or simply finding themselves facing financial problems because of the economic downturn. (Sun, 24 May 2009 05:25:48 GMT)

'A deal with the devil' Student speaks of students' loan ordeal
STACI-ANN regrets going to the Students' Loan Bureau for assistance to finance her tertiary education.She claims her peace of mind has been disturbed since she graduated from the Northern Caribbean University (NCU) four years... (Sun, 24 May 2009 05:27:45 GMT)

Refinancing? Weigh all the factors
Question: My husband and I own a home in Everett free and clear. We also own a home we rent out in Richland, which we purchased in November 2005 on a 30-year mortgage at 6.75 percent interest. We owe approximately $167,000 on the rental home. (Sun, 24 May 2009 07:09:52 GMT)

Veterans can apply for easy mortgage refinancing
One of the best -- and easiest -- streamline refinance programs is available to consumers who now have a loan guaranteed by the U.S. Department of Veterans Affairs. (Sun, 24 May 2009 07:11:14 GMT)

FHA allows lenders to 'monetize' home buyer tax credit
Eligible purchasers who apply for mortgages insured by the agency may soon be able to get bridge loans or cash advances -- up to $8,000 -- that they can use for the down payment or closing costs. The $8,000 federal tax credit for first-time home buyers is about to morph into a ready-cash down payment source, thanks to a new federal policy change. (Sun, 24 May 2009 07:15:16 GMT)

Refinancing jumps as 30-year mortgage rates dip to 4.82%
Rates on 30-year mortgages inched downward last week, remaining below 5 percent for the 10th-consecutive week and just above record lows. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dipped slightly to 4.82 percent last week, down from an average of 4.86 percent the previous week. (Sun, 24 May 2009 07:18:00 GMT)

Mortgage rates dip, but not to record lows
Rates on 30-year mortgages inched downward last week, remaining below 5 percent for the 10th consecutive week and just above record lows. Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dipped slightly to 4.82 percent from an... (Sun, 24 May 2009 07:26:23 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, 24 May 2009 08:04:52 GMT)

To balance retirement with mortgage, weigh options
Q: I've been in my house for 10 years of a 30-year mortgage. If I refinance with another 30 years, then I will be paying for a total of 40 years. But I would save $309 in monthly payments, which I could in turn put toward retirement. (Sun, 24 May 2009 08:50:11 GMT)

First-home buyers borrow big
THE average loan size for first-home buyers rose by $52,000 in the past two years, raising fears incentives are inflating the market. (Sun, 24 May 2009 14:00:00 GMT)

First-home buyers slide into world of pain
THE average loan size for first-home buyers has risen by $52,000 - or 23 per cent - in the past two years. (Sun, 24 May 2009 14:01:00 GMT)

First-home buyers slide into world of pain
THE bad-debt time bomb is ticking for first-home buyers with their average loan sizes skyrocketing in the past two years. (Sun, 24 May 2009 14:01:00 GMT)

1-in-4 O.C. home buyers use federal loan program
FHA program becomes popular in Orange County (Sun, 24 May 2009 18:27:18 GMT)

News and Features for Rio Rancho, New Mexico
When interest rates are low, most homeowners like to refinance their mortgage to save money. Rio Rancho city officials are no different. Wanting to save the taxpayers money, they’ve taken advantage of low interest rates to refinance bonds. (Sun, 24 May 2009 20:13:58 GMT)

'Big Two' hog mortgage growth - report
A report obtained by The Australian newspaper has shown that Australia's two banking behemoths - Commonwealth Bank/BankWest and Westpac/St George Bank - have taken a combined 85 per cent of the 'big four' mortgage growth during the March quarter. (Sun, 24 May 2009 21:12:17 GMT)

'Big Two' hog mortgage growth - report
Commonwealth Bank/BankWest and Westpac/St George Bank have a stranglehold on the mortgage sector, according to a new report. (Sun, 24 May 2009 21:22:11 GMT)

Housing: REDAN to Float Mortgage Firm
Real Estate Development Association of Nigeria (REDAN) yesterday said it plans to establish a primary mortgage institution to facilitate its participation in the country's mass housing development. (Sun, 24 May 2009 23:43:39 GMT)

UK & World News: 200,000 could look to loan sharks
Around 200,000 people could be forced to turn to loan sharks because they cannot borrow money from legal sources, a think tank has warned. (Sun, 24 May 2009 23:51:16 GMT)

Almost 12,000 people receiving state mortgage assistance
ALMOST 12,000 people are receiving state assistance to help pay their monthly mortgage bills. (Mon, 25 May 2009 01:01:01 GMT)

Arrest made in widening mortgage fraud case
WHEAT RIDGE - Investigators say a mortgage broker forged documents and doctored numbers to get people into homes and loans they couldn't afford, leading to a string of foreclosures. (Mon, 25 May 2009 02:10:23 GMT)

Hidden fees can ruin that 'low, low' rate
A number of months ago I wrote about how interest rates were actually being calculated and how it was catching borrowers off guard when they applied for a mortgage. At the time, it was more about people who were calling in for those “low, low advertised rates” only to find out that due to their particular situation, the rates they received were much higher. I attempted to explain why people were ... (Mon, 25 May 2009 04:00:15 GMT)

Average first-home loan jumps
The average loan for first-home buyers has jumped by 23 percent over the past 2 years, renewing fears that government incentives are over-inflating property prices. (Mon, 25 May 2009 04:27:07 GMT)

Officials seeking ways to shore up housing section
Federal officials still are tinkering with different ways they can use President Barack Obama's $75 billion housing plan to help financially struggling homeowners and prop up the ailing housing sector. The cornerstone of the program encourages lenders to either refinance o... (Mon, 25 May 2009 04:39:50 GMT)

Ocean Bank looks to make waves in Boston market
When Massachusetts Mutual Life Insurance Co. wanted to refinance two office buildings in Boston’s Financial District, the insurer turned to Ocean Bank for a mortgage. (Mon, 25 May 2009 04:51:59 GMT)

Local conferences to detail mortgage modification
Millions of homeowners are facing foreclosure, including thousands who are Northern California residents, falling behind on their mortgage or simply finding themselves facing financial problems because of the economic downturn. (Mon, 25 May 2009 05:25:35 GMT)

Bridge to a new home
The $8,000 federal tax credit for first-time home purchasers is about to morph into a ready-cash down payment source, thanks to a new federal policy change. (Mon, 25 May 2009 06:09:45 GMT)

Growing numbers of people 'forced to borrow money from loan sharks'
More than 35000 extra people will be forced to turn to loan sharks because they cannot borrow money from legal sources a thinktank report has warned. (Mon, 25 May 2009 06:26:57 GMT)

Nigeria: Housing - Redan to Float Mortgage Firm
The Real Estate Development Association of Nigeria (REDAN) said it plans to establish a Primary Mortgage Institution to facilitate its participation in the mass housing development in the country. (Mon, 25 May 2009 07:33:10 GMT)

Nigeria: Housing - Redan to Float Mortgage Firm
Abuja — Real Estate Development Association of Nigeria (REDAN) yesterday said it plans to establish a primary mortgage institution to facilitate its participation in the country's mass housing development. (Mon, 25 May 2009 09:01:42 GMT)

Besheer on real estate: Is a reverse mortgage right for you?
Elderly Americans who have a strong desire to remain in their homes but are facing financial demands may look to a reverse mortgage to help them out. A reverse mortgage is a loan that allows senior homeowners to covert some of the equity in their home into cash or a monthly income. (Mon, 25 May 2009 09:44:06 GMT)

Facing foreclosure? Modify your mortgage, local real estate experts say
Local real estate experts are reaching out to homeowners fearing foreclosure with options to avoid losing their homes. (Mon, 25 May 2009 11:05:27 GMT)

Average first-home loan up
New research suggests the average loan for first-home buyers has jumped by 23 percent over the past two years. (Mon, 25 May 2009 11:09:55 GMT)

Refinancing? What You Should Know
Refinancing now can be a boon or a boondoggle. (Mon, 25 May 2009 12:13:01 GMT)

Refinancing deal keeps O'Hara fire department open
The offer will save Guyasuta $60,000 over 10 years. (Mon, 25 May 2009 15:02:40 GMT)

Fort Lauderdale Real Estate: Home Buying Checklist
In order to be reminded of all the things that you need to do, you have to make a checklist. So if it will be your first time with Fort Lauderdale real estate bas a home buyer you have to make your checklist. (Mon, 25 May 2009 15:33:30 GMT)

A Perfect Home Purchase In Tampa Foreclosure Simple Tips
Tampa foreclosures offers quality homes available for purchase at the lowest possible price. Average homebuyers looking for a quality home in Tampa might want to consider the option of picking out a foreclosed property to avoid compromising their finances. (Mon, 25 May 2009 15:47:51 GMT)

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