Mortgage News May 2009

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Hibs end loan of Genoa forward Steven Pinau
Hibs on loan forward Steven Pinau is today on his way back to Italy, after his loan deal expried. The 21-year-old French striker spent the season on loan from Serie A side Genoa, but has not been handed a chance to shine by boss Mixu Paatelainen. (Mon, 25 May 2009 18:56:48 GMT)

ADF, Sorouh Announce New Mortgage Product
ABU DHABI - Abu Dhabi Finance, or ADF, and Sorouh Real Estate PJSC, have announced an exclusive new mortgage product for customers at four of the real estate developer’s projects. (Mon, 25 May 2009 20:01:42 GMT)

Bruce Garlitz Joins HomeBanc as Mortgage Loan Officer
TAMPA - Tampa-based HomeBancorp, Inc. has named Bruce Garlitz as Mortgage Loan Officer for HomeBanc. He is based in the bank's Lakewood Ranch office, located at 6230 University Parkway, Suite 101, in Sarasota. (Mon, 25 May 2009 23:35:08 GMT)

SBA Community and Patriot Express Loan Workshop
The workshop is designed for anyone looking to secure a small business loan. The SBA Community Express Loan Program does not require financial statements or collateral, and there is no pre-payment penalty. Full-time, part-time, or home-based businesses are eligible for the loan. (Tue, 26 May 2009 00:14:37 GMT)

Marinaleda Journal: A Job and No Mortgage for All in a Spanish Town
The mayor of Marinadela boasts that his town, with its municipal housing program and bustling farming cooperative, is a Communist oasis that people are flocking to. (Tue, 26 May 2009 02:01:59 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. (Tue, 26 May 2009 02:28:47 GMT)

Mortgage loan targets repairs
Via Homes and Sun American Mortgage Co. are offering a loan called the Federal Housing Administration Section 203K loan that bundles the purchase and renovation of a fixer-upper home into a single mortgage payment. (Tue, 26 May 2009 03:23:39 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. (Tue, 26 May 2009 05:25:35 GMT)

Mortgage-interest deduction cuts proposed but not likely
Because it has become fashionable lately to denigrate the rich (that is, anybody who has more money than you do), it isn't terribly surprising that the proposed federal budget would whack the mortgage-interest deduction for couples earning more than $250,000. (Tue, 26 May 2009 07:04:47 GMT)

POKIN AROUND: Time to refinance? The real value of a home
Early this month I agreed to pay a man $425 to spend a couple of minutes looking at my house so he could tell me a few days later that it had depreciated $20,000 in value. (Tue, 26 May 2009 07:29:42 GMT)

(AFX UK Focus) 2009-05-26 08:20 Spanish mortgage lending falls 37.4 pct in March
MADRID, May 26 (Reuters) - Spanish mortgage lending dropped 37.4 percent year-on-year in March, a slower rate of decline than the 47.5 percent fall recorded in February, government data showed on Tuesday. March mortgage lending fell to 6.244 billion euros ($8.72 billion), the National Statistics Institute reported. (Reporting by Jason Webb; editing by Sarah Morris) ($1=.7158 Euro) Keywords: ... (Tue, 26 May 2009 07:30:46 GMT)

Home piano out of tune with digital age
Giovanni Lovatelli and his family lucked into a long-term loan of a 1948 baby grand piano when a friend moved to New York years ago. (Tue, 26 May 2009 07:58:05 GMT)

Nearly seven in 10 would-be first-time buyers lose hope of ever owning home
In spite of falling house prices and low interest rates, 65% remain convinced that property ladder is beyond their reach Almost seven in 10 would-be first-time buyers have given up hope of ever owning their own home, according to new research that underlines consumers' deep pessimism about the housing market. Despite falling house prices and record low interest rates, 65% of non-homeowners still ... (Tue, 26 May 2009 08:09:46 GMT)

Mortgage Lending Comes Back to Life
Residential mortgage lending is rising, a sign the economy is on the mend. (Tue, 26 May 2009 08:32:22 GMT)

(AFX UK Focus) 2009-05-26 08:58 UPDATE 1-Spanish mortgage lending falls 37.4% y/y in March
MADRID, May 26 (Reuters) - Spanish mortgage lending dropped 37.4 percent year-on-year in March, taking new loans to the lowest level seen in records dating back to January 2003, National Statistics Institute data showed on Tuesday. March mortgage lending fell to 6.244 billion euros ($8.72 billion), the institute said. The decline was slower than the 47.5 percent fall from a year earlier in ... (Tue, 26 May 2009 08:34:22 GMT)

Mortgage lending falls by 9% in April
• Mortgage lending is 60% less than same month last year • Fall follows slight increase in lending seen in March Gross mortgage lending fell back to £10.4bn in April, a drop of 9% compared with the previous month and 60% down on last April, figures showed today. The Council of Mortgage Lenders (CML) said the figures were affected by Easter falling in April this year, but added that during both ... (Tue, 26 May 2009 08:43:05 GMT)

Mortgages: How one bad debt can send your loan chances into freefall
Pamela Allen earns more than £50,000 a year, but the only mortgage she can get is at 12.75%. Rupert Jones reveals how home buyers with minor blots in their credit history are struggling to find loans As the recession continues to bite, the number of people with less-than-perfect credit histories is rising rapidly. But, at the same time, many of the mortgage companies catering for such people ... (Tue, 26 May 2009 08:44:05 GMT)

Is an offset mortgage the right deal for you?
If you are despairing of ever getting decent returns on your savings an offset mortgage could be the answer to your woes. (Tue, 26 May 2009 08:59:44 GMT)

Pay points if mortgage horizon is long
The longer an owner plans to stay in a mortgage, the more sense it makes to pay discount points. (Tue, 26 May 2009 10:00:00 GMT)

Pay points if mortgage horizon is long
Dear Dr. Don, We have lived in our home for eight years and plan to stay at least 12 (years) to 20 years more. We are currently three years into a refinanced 30-year mortgage at 5.88 percent. (Tue, 26 May 2009 11:42:56 GMT)

First home buyer index climbs
There's some better news on the home affordability front, with the first home buyer index climbing to its best level in 7 years. (Tue, 26 May 2009 11:53:47 GMT)

PCLender.com Web-Based Mortgage Software Enhances Seamless Integration With NYLX Product and Pricing Engine
PCLender.com, the leader in enterprise, Web-based mortgage software, and NYLX, the mortgage industry's leading provider of product eligibility and best-execution loan pricing solutions, announce the completion of an enhanced integration between the PCLender.com mortgage lending platform and the NYLX product eligibility and pricing platform. (Tue, 26 May 2009 12:00:00 GMT)

PCLender.com Web-Based Mortgage Software Enhances Seamless Integration With NYLX Product and Pricing Engine
Midwest Mortgage Capital Uses PCLender.com and NYLX to Increase Profitability and Capacity to Grow (Tue, 26 May 2009 12:04:23 GMT)

How to save thousands on your mortgage payments
You can save big money without refinancing. The secret: change the way you make your monthly payment. (Tue, 26 May 2009 12:10:41 GMT)

Hong Kong New Mortgage Loans Drown Down Increase In April
(RTTNews) - Tuesday, the Hong Kong Monetary Authority said in a report that the value of new residential mortgage loans drawn down increased 19.3% month-on-month in April, compared with the 25.5% growth in the previous month. (Tue, 26 May 2009 12:33:32 GMT)

Mortgage rates fall to 4.82%
Mortgage rates remain low as the Federal Reserve continues to make moves to keep them that way. (FRE) (Tue, 26 May 2009 12:49:46 GMT)

Economic Report: U.S. home prices still falling at record pace
U.S. home prices fall a record 19.1% in the first quarter compared with a year earlier, according to the national Case-Shiller home price index. (Tue, 26 May 2009 13:37:53 GMT)

Freddie Mac to Sell Its First Multifamily Mortgage-Backed Bonds
May 26 (Bloomberg) -- Freddie Mac , the mortgage-finance company under government control, plans to sell about $1 billion of guaranteed securities backed by mortgages on multifamily properties in its first offering of the debt. (Tue, 26 May 2009 14:37:41 GMT)

Home insulation to stimulate economy
The Government will unveil tomorrow a home insulation subsidy scheme for private home owners to be funded via councils, banks and power companies. Home owners will be able to get a loan from the government for insulation on homes... (Tue, 26 May 2009 17:05:31 GMT)

Fremont Bank Processing $113 Million in Mortgage Loans Through New "Making Home Affordable" Refinance Program
FREMONT, Calif.----In its ongoing effort to provide affordable mortgages to families who have experienced a steep decline in home value, Fremont Bank , a leading full-service community bank in Northern California, is one of the first banks in the nation to fund new mortgages through President Obama's "Making Home Affordable" refinance program. (Tue, 26 May 2009 17:15:00 GMT)

Zillow: Mortgage rates fall in Pennsylvania, rise nationally
The average rate for a 30-year, fixed-rate mortgage dropped below 5 percent last week in Pennsylvania, but was up slightly nationwide, according to mortgage rate Web site Zillow.com. (Tue, 26 May 2009 18:41:30 GMT)

Mortgage Loan Audit May be Last Resort for Tough Loan Modifications and Investment Properties
It seems that investment properties, second homes, and jumbo mortgage loans are turned down for modification almost immediately, in the absence of leverage against the lender, like a failing mortgage loan document audit. [PR.com - May 26, 2009] (Tue, 26 May 2009 18:55:04 GMT)

Home Insulation affordability?
It is thought many homeowners will not be able to access a home insulation subsidy because they can't afford the initial cost outlay. (Tue, 26 May 2009 19:48:13 GMT)

Former suburban man charged with mortgage fraud
A former southwest suburban resident wanted in connection with a massive mortgage fraud scheme has surrendered to the FBI following an international manhunt. (Tue, 26 May 2009 19:52:52 GMT)

Federal Home Loan Bank of Boston Appoints Edward A. Hjerpe, III as New President and CEO
The Board of Directors of the Federal Home Loan Bank of Boston announced today the appointment of Edward A. Hjerpe, III as president and chief executive officer of the Bank. (Tue, 26 May 2009 20:10:00 GMT)

TODAY’S DEALS: HFF Arranges $5.8M Refinancing for 220-Unit Rental Community, and Other Transactions
Dallas--The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $5.8 million refinancing for Seatree Apartments ( pictured ), a 220-unit multifamily community in southeast Houston. (Tue, 26 May 2009 20:35:40 GMT)

Mortgage Scheme Suspect Jailed
Darryl Underwood has turned himself in to jail. Underwood is accused of a multi-million dollar mortgage scheme that many Richmonders say, cost them their homes. (Tue, 26 May 2009 20:35:53 GMT)

Koster sues Gateway Mortgage Modification
Missouri Attorney General Chris Koster on Tuesday sued a St. Louis company that allegedly failed to offer the foreclosure relief and mortgage modifications it promised to Missourians. (Tue, 26 May 2009 20:50:29 GMT)

Freddie Mac to Sell Multifamily Mortgage Securities (Update1)
May 26 (Bloomberg) -- Freddie Mac, the mortgage-finance company under government control, plans to sell about $1 billion of guaranteed securities backed by multifamily loans made in the past year in its first offering of the type of debt. (Tue, 26 May 2009 21:07:31 GMT)

Money 911: Desperate to refinance a mortgage?
TODAY’s financial editor Jean Chatzky, CNBC's Carmen Wong Ulrich and "Start Late, Finish Rich" author David Bach offer timely financial advice to viewers in need. (Tue, 26 May 2009 23:43:49 GMT)

Gather the facts when refinancing
Interest rates have been falling since August 2008 and many people are taking advantage of the falling interest rates by refinancing their mortgages. (Wed, 27 May 2009 00:53:46 GMT)

Home purchases on rebound, say Realtors
The average selling price of a Stark County home went from $73,384 in January to $101,136 in April, almost a 38 percent increase, according to figures from the Stark County Association of Realtors. (Wed, 27 May 2009 01:52:11 GMT)

Illinois man arrested for mortgage fraud
OAK LAWN, Ill. (AP) - A suburban Chicago man wanted by the FBI for mortgage fraud has turned himself in after an international manhunt. (Wed, 27 May 2009 03:48:45 GMT)

Why is refinancing a mortgage so expensive?
I'm in the process of refinancing the mortgage on my home. Again. (Wed, 27 May 2009 03:55:41 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. (Wed, 27 May 2009 05:11:25 GMT)

Regency Homebuilders Files Loan for Six Homes
Regency Homebuilders LLC has filed a $1.2 million construction loan through Triumph Bank to build homes on six lots in three subdivisions. The loan, d.... (Wed, 27 May 2009 05:12:02 GMT)

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. (Wed, 27 May 2009 05:40:11 GMT)

Metro home prices slide at slower pace Decline of Atlanta home prices slowing
Metro Atlanta home prices kept falling in March, but the pace of decline slowed a bit, according to a closely watched index. (Wed, 27 May 2009 05:51:40 GMT)

Mortgage broker faces more theft charges
A Mission district mortgage broker who targeted Spanish-speaking clients has left a rising toll of theft victims in his wake, prosecutors said Tuesday. (Wed, 27 May 2009 06:30:09 GMT)

Protecting your biggest investment
Interest rates have fallen sharply in the past six months, prompting questions about refinancing. How much will you save if you "break" a closed mortgage to get a lower rate? (Wed, 27 May 2009 08:36:58 GMT)

April British Net Mortgage Growth At 8-year Low
April British Net Mortgage Growth At 8-year Low (Wed, 27 May 2009 09:17:28 GMT)

Survey tames mortgage closing costs
Bankrate's closing cost survey can protect homeowners from paying above-market mortgage fees. (Wed, 27 May 2009 10:00:00 GMT)

Mortgage Investors Drop Fight Against Obama
Holders of mortgage-backed securities are embracing the revamped version of the Hope for Homeowners program. (Wed, 27 May 2009 10:12:01 GMT)

Mortgage Nightmare: Who Owns My Loan?
Many homeowners face a constant shuffle of mortgage servicers and owners. (Wed, 27 May 2009 10:12:26 GMT)

Dhanalakshmi Bank launches spl home loan product
Private sector Dhanalakshmi Bank today said that it has launched a special home loan product, Privilege Home Loan, targeted at select employees of top-rated corporates, PSUs, registered trusts and societies. (Wed, 27 May 2009 10:27:16 GMT)

MPs' expenses: Mark Hendrick admits estimating claims for mortgage interest
Mark Hendrick a Labour MP admitted "estimating" the amount of mortgage interest he paid on his second home when claiming on his taxpayerfunded parliamentary allowances. (Wed, 27 May 2009 10:38:01 GMT)

U.S. mortgage applications sink 14%
Higher loan rates dampen demand for refinancing, dragging down total loan applications last week. (Wed, 27 May 2009 11:16:15 GMT)

Mortgage applications fell 14.2% last week: MBA
Mortgage applications filed last week fell a seasonally-adjusted 14.2% last week, compared with the week before, as rates on 30-year fixed-rate mortgages ticked up, according to the Mortgage Bankers Association’s weekly survey. (Wed, 27 May 2009 11:37:43 GMT)

UK mortgage lending at 8-year low in April
Net mortgage lending in Britain hit the lowest level in eight years in April while savings growth remained subdued, the British Bankers Association said Wednesday, suggesting the Bank of England's massive cash injections into the economy have yet to boost credit activity. (Wed, 27 May 2009 11:41:00 GMT)

real estate
With historically low rates, many homeowners are watching closely for the right time to refinance their mortgages. Those with good credit may well recall being showered with praise by a mortgage broker during the initial purchase for that solid credit score. (Wed, 27 May 2009 11:42:56 GMT)

Mortgage lending at eight-year low
Mortgage lending slumped to an eight-year low during April but there were further signs that activity in the housing market has stabilised, figures showed today. (Wed, 27 May 2009 11:53:54 GMT)

U.S. MBA Mortgage Applications Index Fell 14 Percent Last Week
May 27 (Bloomberg) -- Mortgage applications in the U.S. declined last week, led by a plunge in refinancing as lending rates rose. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped 14 percent to 786 in the week ended May 22, from 915.9 the week before. (Wed, 27 May 2009 12:03:27 GMT)

Mortgage Madness Inspires Two New Books
Alyssa Katz NYU journalism professor AUTHOR Edmund L. Andrews New York Times reporter Macro: Katz traces the crisis's roots to the twin push for lower-income homeownership and securitized-mortgage deregulation. point of view Micro: Andrews explains the crisis using the story of the everyman -- himself -- and how he came to buy more house than he could afford. Rueful surprise at how no one ... (Wed, 27 May 2009 12:14:00 GMT)

Mortgage Applications Tumble Over 14 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume tumbled over 14 percent last week, as refinance activity plunged nearly 19 percent. (Wed, 27 May 2009 12:41:52 GMT)

Mortgage applications sink as rates rise
The highest home loan rates in more than two months drained demand for refinancing last week, dragging total mortgage applications to the lowest level since early March, the Mortgage Bankers Association said on Wednesday. (Wed, 27 May 2009 13:17:57 GMT)

U.S. MBA Mortgage Applications Index Fell 14 Percent Last Week
May 27 (Bloomberg) -- Mortgage applications in the U.S. declined last week, led by a plunge in refinancing as lending rates rose. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped 14 percent to 786 in the week ended May 22, from 915.9 the week before. (Wed, 27 May 2009 13:38:57 GMT)

Mortgage refinancing activity down 19%
Mortgage refinancing was down 18.9 percent last week from the previous week, according to the Mortgage Bankers Association’s weekly mortgage applications survey released Wednesday. (Wed, 27 May 2009 14:04:15 GMT)

Deutsche Bank Plans First Mortgage Pfandbriefe Issue (Update1)
May 27 (Bloomberg) -- Deutsche Bank AG , Germany’s biggest bank, plans to sell its first so-called mortgage pfandbriefe after the European Central Bank’s policy to buy 60 billion euros ($83.7 billion) of covered bonds revived investor interest. (Wed, 27 May 2009 14:07:52 GMT)

Mortgage Applications Sink As Loan Rates Rise
The highest home loan rates in more than two months drained demand for refinancing last week, dragging total mortgage applications to the lowest level nationwide since early March, the Mortgage Bankers Association said on Wednesday. (Wed, 27 May 2009 14:28:30 GMT)

US existing home sales climb in April
US existing home sales climbed 2.9 percent in April, rebounding from a decline in the prior month, as plummeting prices drew buyers, the National Association of Realtors reported Wednesday. (Wed, 27 May 2009 15:54:01 GMT)

Mortgage-refinancing company accused of violating Missouri Do Not Call List
Mortgage-refinancing company accused of violating Missouri Do Not Call List (Wed, 27 May 2009 16:12:23 GMT)

Mortgage rescues up in April
Nearly 270,000 troubled homeowners were issued mortgage workouts in April, according to a regular industry report released Wednesday. That was up from about 250,000 in March. (Wed, 27 May 2009 16:53:00 GMT)

Mortgage rescues up in April
Nearly 270,000 troubled homeowners were issued mortgage workouts in April, according to a industry report released Wednesday. That was up from about 250,000 in March. (Wed, 27 May 2009 17:01:25 GMT)

PR mortgage company probed for alleged $19M fraud
Federal authorities raided the offices of a Puerto Rico mortgage company Wednesday to investigate an alleged fraud totalling nearly $20 million. (Wed, 27 May 2009 17:31:14 GMT)

Mortgage-Bond Yields Soar, Jeopardizing Fed’s Housing Effort
Yields on Washington-based Fannie Mae’s current-coupon 30- year fixed-rate mortgage bonds climbed to 4.3 percent as of 10:25 a.m. in New York, the highest since March 10 and up from 3.94 percent on May 20, data compiled by Bloomberg show. (Wed, 27 May 2009 18:39:02 GMT)

Mortgage refinancing activity down 19%
Mortgage refinancing was down 18.9 percent last week from the previous week, according to the Mortgage Bankers Association’s weekly mortgage applications survey released May 27. (Wed, 27 May 2009 18:56:19 GMT)

Mortgage-Bond Yields Jump, Jeopardizing Fed’s Housing Effort
Yields on Washington-based Fannie Mae’s current-coupon 30- year fixed-rate mortgage bonds climbed to 4.51 percent as of 2:17 p.m. in New York, the highest since Dec. 5 and up from 3.94 percent on May 20, data compiled by Bloomberg show. (Wed, 27 May 2009 19:03:19 GMT)

Treasury Yields Surge From Mortgage Hedging
Treasury Yields Surge From Mortgage Hedging (Wed, 27 May 2009 19:17:48 GMT)

Federal Home Loan Bank of Seattle Announces Availability of $2.6 Million of Affordable Housing Program (AHP) Funding
SEATTLE----The Federal Home Loan Bank of Seattle today announced the availability of at least $2.6 million in subsidy for affordable rental and owner-occupied housing through the bank's 2009 Affordable Housing Program . (Wed, 27 May 2009 19:23:00 GMT)

Mortgage Bonds Fall; Home Buyers, Investors Eye Rising Rates
NEW YORK -(Dow Jones)- Mortgage bonds guaranteed by Fannie Mae (FNM) and Freddie Mac (FRE) sold off Wednesday as two key stakeholders in the market - investors and homeowners - weighed the impact of rising interest rates. (Wed, 27 May 2009 19:27:11 GMT)

Knapp Haven secures $2.86 million loan
Knapp Haven Nursing Home in Chetek will receive a $2.86 million Rural Development loan funded by the American Recovery and Reinvestment Act for construction and renovation. (Wed, 27 May 2009 20:02:48 GMT)

Home-grown terrorism alive and well: Van Loan
As U.S. Homeland Security Secretary Janet Napolitano issued yet another mea culpa for misstating that some 9/11 terrorists came from Canada, her Canadian counterpart said Wednesday that homegrown terrorism is alive and well in Canada. (Wed, 27 May 2009 20:05:05 GMT)

U.S. Commercial-Mortgage Defaults Set to Increase, Reis Says
May 27 (Bloomberg) -- U.S. delinquency and default rates for loans sold as commercial mortgage-backed securities probably will continue to increase this year amid rising office, retail and apartment vacancies, research firm Reis Inc. (Wed, 27 May 2009 20:33:53 GMT)

Good News on the Mortgage Mess
Mortgage bond prices have rebounded and refinancing is reducing problem securities. Now improved disclosure is identifying the worst loans (Wed, 27 May 2009 21:20:06 GMT)

Mortgage-Bond Yields Jump, Jeopardizing Fed’s Housing Effort
Yields on Washington-based Fannie Mae’s current-coupon 30- year fixed-rate mortgage bonds climbed to 4.55 percent as of 3:15 p.m. in New York, the highest since Dec. 5 and up from 3.94 percent on May 20, data compiled by Bloomberg show. (Wed, 27 May 2009 21:22:36 GMT)

Understanding Mortgage Impound Accounts
Home buyers with low down payments may get stuck with higher mortgage payments. Find out what you get for the extra money. (Wed, 27 May 2009 21:31:28 GMT)

Mortgage-Bond Yields Jump, Jeopardizing Fed’s Housing Effort
May 27 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds rose for a fourth day, after exceeding for the first time yesterday their levels before the Federal Reserve announced it would expand purchases to drive down interest rates on loans. (Wed, 27 May 2009 22:23:56 GMT)

Northeast posts 9.6 pct March home sales decline
Home sales in the Northeast declined more than any other region in the country in April as job losses took their toll, the National Association of Realtors said Wednesday. (Wed, 27 May 2009 23:17:20 GMT)

Mortgage-Bond Yields Jump, Jeopardizing Fed’s Housing Effort
May 27 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds rose for a fourth day, after exceeding for the first time yesterday their levels before the Federal Reserve announced it would expand purchases to drive down interest rates on new loans. (Wed, 27 May 2009 23:33:27 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, 28 May 2009 05:26:25 GMT)

Understanding Mortgage Impound Accounts
Did you think that when you stopped renting and started owning, you'd finally get your deposit back for good? Think again. When you buy a house with a down payment of less than 20%, your lender may require you to make a deposit on your homeowners insurance , private mortgage insurance, any required additional insurance (like flood insurance) and your property taxes . (Learn more about home ... (Thu, 28 May 2009 08:06:35 GMT)

Northeast posts 9.6% March home sales decline
NEW YORK -- Home sales in the Northeast declined more than any other region in the country in April as job losses took their toll, the National Association of Realtors said Wednesday. (Thu, 28 May 2009 08:23:08 GMT)

Refinance could reduce tax deduction
Weigh several factors before a mortgage refinance, including a potentially reduced tax deduction. (Thu, 28 May 2009 10:00:00 GMT)

Pay off mortgage before retiring
Dear Debt Adviser, I have asked several people this question, and I hope you can give me an answer. I owe $70,000 on my mortgage with an interest rate of 5.75 percent fixed, and I owe 11 more years. I want to shorten the time of repayment due to retirement in nine years. (Thu, 28 May 2009 11:42:26 GMT)

Good News on the Mortgage Mess
Smart shoppers for used cars know how to avoid lemons. Now buyers of residential mortgage-backed securities are likewise learning how to distinguish the bad from the good. That bodes well for healing housing finance. (Thu, 28 May 2009 12:08:43 GMT)

Mortgage rates: 30-year still rising
Home mortgage rates jumped in the most recent week, pulled higher by rising Treasury yields, according to a report released Thursday. (Thu, 28 May 2009 13:01:05 GMT)

Maturing Debt and Refinance Risk Top Concerns for Real Estate Private Equity Fund Sponsors, According to New Survey by ...
Mortgage financing and the ability of fund sponsors to refinance maturing debt on commercial properties in the next 12 to 18 months is the single most important concern in today's market, according to results of a survey of more than 40 major funds released today by Ernst & Young LLP. (Thu, 28 May 2009 14:04:00 GMT)

Koster Sues Refinancing Telemarketer
(Jefferson City, MO) Attorney General Chris Koster has filed suit to stop a mortgage-refinancing company from calling and soliciting business from Missourians who had previously placed their names on the state's No-Call List. (Thu, 28 May 2009 14:07:00 GMT)

Mortgage Rates Rise for 30-Year U.S Fixed Loans (Update2)
May 28 (Bloomberg) -- Fixed mortgage rates for 30-year U.S. home loans climbed to the highest since March as the Federal Reserve’s plan to lower the cost of home loans flagged. (Thu, 28 May 2009 15:24:16 GMT)

Mortgage delinquencies hit record high in Q1
A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the Mortgage Bankers Association said Thursday. (Thu, 28 May 2009 15:24:43 GMT)

Mortgage Delinquencies, Foreclosures, 30-Year Rates Increase
May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum. (Thu, 28 May 2009 16:04:10 GMT)

New-home sales almost flat as mortgage delinquencies spread
The government says new U.S. home sales were almost flat last month, indicating that the housing market's recovery will likely be a slow and gradual process. (Thu, 28 May 2009 16:20:54 GMT)

Northeast posts 9.6 pct March home sales decline
Home sales in the Northeast declined more than any other region in the country in April as job losses took their toll, the National Association of Realtors said Wednesday. (Thu, 28 May 2009 17:03:39 GMT)

Fixed mortgage rates rise, remain near record lows
Fixed mortgage rates climbed with government bond yields in the past week to stand about 1/8 percentage point above record lows, Freddie Mac said on Thursday. (Thu, 28 May 2009 17:49:35 GMT)

Mortgage rates rise, remain below 5 pct
Rates on 30-year home loans rose this week and were poised to go higher as investors demanded higher rates for long-term government debt, which is closely tied to mortgage rates. (Thu, 28 May 2009 18:00:28 GMT)

Mortgage rates rise, remain below 5 pct
WASHINGTON -- Rates on 30-year home loans rose this week and were poised to go higher as investors demanded higher rates for long-term government debt, which is closely tied to mortgage rates. (Thu, 28 May 2009 18:00:28 GMT)

Mortgage Delinquencies, Foreclosures, Rates Increase (Update1)
May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to fix the housing slump lost momentum. (Thu, 28 May 2009 18:33:54 GMT)

Mortgage rate rise thwarts some refinancing plans
Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. But like many homeowners, he waited for rates to fall... Related: Freddie Mac - Mortgage - Business - Government debt - United States (Thu, 28 May 2009 18:38:18 GMT)

Mortgage Delinquencies, Foreclosures, Rates Increase (Update2)
May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March this week as the government’s effort to fix the housing slump lost momentum. (Thu, 28 May 2009 18:52:04 GMT)

7 Simple Steps to a Dirt-Cheap Mortgage
How to get today's lowest financing costs for home buying or mortgage refinancing. (Thu, 28 May 2009 19:15:06 GMT)

Starting Points receives loan for shelter
A $105,000 loan from Forward Community Investments to Starting Points, Inc., will allow for the rehabilitation of an existing seven-bedroom home that will provide shelter for the homeless in Chippewa Falls. (Thu, 28 May 2009 19:29:47 GMT)

Mortgage rate rise thwarts some refinancing plans
Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. (Thu, 28 May 2009 21:17:31 GMT)

Mortgage rate rise thwarts some refinancing plans
Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. But like many homeowners, he waited for rates to fall further. Now, he’s worried he missed his chance. (Thu, 28 May 2009 21:32:52 GMT)

Mortgage delinquencies hit record high in Q1
A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the Mortgage Bankers Association said Thursday. (Thu, 28 May 2009 21:44:15 GMT)

Drag Me to Hell (2009)
The most popular movies among NYTimes.com readers. Evil Dead director Sam Raimi takes the helm for this spook-a-blast shocker about an ambitious L.A. loan officer who incurs the wrath of a malevolent gypsy by refusing to grant her an extension on her home loan. (Thu, 28 May 2009 22:22:54 GMT)

Mortgage rate rise thwarts some refinancing plans
NEW YORK — Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4. (Thu, 28 May 2009 23:40:51 GMT)

Too Late To Refinance Your Mortgage?
Mortgage rates at some lenders spiked by as much as 1 percent on Wednesday and saw little relief on Thursday, according to mortgage brokers. (Fri, 29 May 2009 01:30:02 GMT)

6 punished in Dallas-area mortgage fraud case
Charges against two men have been dismissed, while six other people were sentenced to federal prison or received probation in a mortgage fraud case brought by federal prosecutors in 2007. (Fri, 29 May 2009 02:57:03 GMT)

State Library's New Home To Meet Green Standards
LITTLE ROCK — The state library will go green later this year when the agency moves into its new home, a familiar old structure retrofitted to meet specific environmental standards, the state building director said Thursday. (Fri, 29 May 2009 03:02:36 GMT)

Mortgage rate rise thwarts some refinancing plans
Mortgage rates at some lenders spiked by as much as 1 percent on Wednesday and saw little relief on Thursday, according to mortgage brokers. (Fri, 29 May 2009 03:03:56 GMT)

Home loan demand up, personal loans down
There is further evidence of strong demand for home loans but continuing signs that people are trying to rein in the amount of credit they have. (Fri, 29 May 2009 04:02:32 GMT)

Tax Credit to Come Upfront for First-Time Home Buyers
Housing and Urban Development Secretary Shaun Donovan will announce details Friday on the Obama Administration's new plan to allow some first-time home buyers to get upfront cash for a down payment on a house through the government’s new $8,000 tax credit for new home buyers, housing industry sources said. (Fri, 29 May 2009 04:22:08 GMT)

Should I pay off my car loan with a home-equity loan?
Advantages and disadvantages for swapping one form of credit with another. (Fri, 29 May 2009 04:25:51 GMT)

Starting Points receives loan for shelter
A $105,000 loan from Forward Community Investments to Starting Points, Inc., will allow for the rehabilitation of an existing seven-bedroom home that will provide shelter for the homeless in Chippewa Falls. (Fri, 29 May 2009 05:45:27 GMT)

Eight amusing facts about your home loan
Here's why you must read your home loan agreement with your home loan lender carefully. (Fri, 29 May 2009 06:28:12 GMT)

Veterans and FHA Home Owners Waiting to Refinance Better Act Now - Interest Rates are Rising
Veterans and FHA home owners may have been waiting for the right time to refinance their VA loan or FHA loan. (Fri, 29 May 2009 07:01:00 GMT)

Elk Grove cop, 2 others accused of mortgage fraud
An Elk Grove police officer allegedly lied on his mortgage and refinance applications to obtain loans with cash equity totaling tens of thousands of dollars, according to an affidavit in Sacramento's federal court. (Fri, 29 May 2009 07:03:19 GMT)

Jumping mortgage rates cloud future
Rates on 30-year home loans rose this week and were poised to go higher as investors demanded higher rates for long-term government debt, which is closely tied to mortgage rates. (Fri, 29 May 2009 09:27:55 GMT)

Feds bust ring in $10M mortgage scam
The feds busted up a $10 million mortgage scam that had left city and Long Island homeowners facing eviction. (Fri, 29 May 2009 10:00:00 GMT)

Mortgage rates gone wild
With mortgage rates suddenly skyrocketing, what should potential homebuyers do? (Fri, 29 May 2009 10:00:00 GMT)

Slow start for mortgage help plan
Only two households in England have been given help in the first four months of a multi-million pound mortgage rescue scheme. (Fri, 29 May 2009 10:47:40 GMT)

Average 30-year mortgage rises to 4.91 percent
Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages rose to 4.91 percent this week, from an average of 4.82 percent a week earlier. (Fri, 29 May 2009 10:55:10 GMT)

Rise in mortgage rates thwarts some attempts to refinance home loans
NEW YORK -- Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. (Fri, 29 May 2009 10:57:58 GMT)

Realty Q&A: No federal mortgage help for second-home owners
Are there any new laws going into effect that would allow someone with a second home to refinance or adjust the mortgage? (Fri, 29 May 2009 11:07:33 GMT)

Mortgage rates gone wild
Mortgage rates went up swiftly this week, and some would-be borrowers lost out dearly because they had not locked while rates were extremely low. The question is: What should they do now? (Fri, 29 May 2009 11:42:53 GMT)

Rising mortgage rates pose new threat to economy
NEW YORK — If you were planning on buying a house or refinancing to take advantage of record low mortgage rates: Think again. Mortgage rates at some lenders spiked by as much as 1 percent Wednesday and saw little relief on Thursday, according to mortgage brokers. (Fri, 29 May 2009 13:55:21 GMT)

Did you miss the best chance to refinance?
Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4. 75 percent. Wald, an auto-body repairman... (Fri, 29 May 2009 13:56:25 GMT)

First-Time Home Buyer Tax Credit for Closing Will Move Market
WASHINGTON, DC--(Marketwire - May 29, 2009) - Consumers across the country can now take advantage of a Federal Housing Administration program to allow qualified home buyers to apply the $8,000 tax credit when purchasing a home. FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger downpayment above the ... (Fri, 29 May 2009 16:03:03 GMT)

Panel set up to tackle problem of loan sharks
KUALA LUMPUR: The Home Ministry has formed a working committee to review cases involving loan sharks and its victims. (Fri, 29 May 2009 16:09:49 GMT)

Mortgage-Bond Yields Tumble, Signaling Lower Home-Loan Rates
May 29 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds tumbled, likely pushing down interest rates on new home loans after a recent jump that added to signs the housing market and economy may not soon recover. (Fri, 29 May 2009 18:54:01 GMT)

Genworth Files for Canadian Mortgage Insurer IPO (Update1)
May 29 (Bloomberg) -- Genworth Financial Inc. , the insurer that failed to get a U.S. bailout, filed a plan to sell as much as 49 percent of its Canadian mortgage guarantor in an initial public offering. (Fri, 29 May 2009 19:00:56 GMT)

Mortgage rate rise thwarts some refinancing plans
Mortgage rates at some lenders spiked by as much as 1 percent on Wednesday and saw little relief on Thursday, according to mortgage brokers... (Fri, 29 May 2009 19:02:54 GMT)

Mortgage-Bond Yields Tumble, Signaling Lower Home-Loan Rates
May 29 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds tumbled, likely pushing down interest rates on new home loans after a climb that added to signs the housing market and economy may not soon recover. (Fri, 29 May 2009 19:06:38 GMT)

Mortgage rates staying above 5%
Mortgage rates burst past the 5% mark for a 30-year fixed-rate loan late in May, peaking at an average of 5.45% on Thursday. It was the highest level reached by mortgage rates this year, but on Friday they fell back to 5.27%. (Fri, 29 May 2009 19:46:05 GMT)

Bank Profits at Risk as Mortgage Rates Rise
Bank profits could take a hit as the federal government's heavy borrowing to combat the economic crisis have began to take their toll on mortgage rates. (Fri, 29 May 2009 20:02:33 GMT)

Mortgage-Bond Yields Tumble, Signaling Lower Home-Loan Rates
May 29 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds tumbled, pushing down interest rates on new home loans after a climb that added to signs the housing market and economy may not soon recover. (Fri, 29 May 2009 20:07:23 GMT)

Genworth Files for Canadian Mortgage Insurer IPO (Update2)
May 29 (Bloomberg) -- Genworth Financial Inc. , the insurer that failed to get a U.S. bailout, filed a plan to sell as much as 49 percent of its Canadian mortgage guarantor in an initial public offering. (Fri, 29 May 2009 21:16:20 GMT)

Mortgage-Bond Yields Tumble, Signaling Lower Home-Loan Rates
May 29 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds tumbled, pushing down interest rates on new home loans after a climb that added to signs the housing market and economy may not soon recover. (Fri, 29 May 2009 21:39:41 GMT)

Federal Home Loan Bank of San Francisco Releases April 2009 Cost of Funds Index
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco announced May 29, 2009, that the 11th District Monthly Weighted Average Cost of Funds Index for April 2009 is 1.380%. The index for March 2009 was 1.627%. (Fri, 29 May 2009 22:09:00 GMT)

Mortgage-Bond Yields Tumble, Signaling Lower Home-Loan Rates
May 29 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds tumbled, pushing down interest rates on new home loans after a climb earlier this week that added to signs the housing market and economy may not soon recover. (Fri, 29 May 2009 22:21:37 GMT)

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