Mortgage News Jun 2009

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Nutritionist charged with mortgage fraud
The owner of a Silver Spring-based nutrition company has been charged with lying on mortgage applications to obtain nearly $600,000 in loans. (Mon, 01 Jun 2009 01:12:56 GMT)

David Beckham ends his loan spell to AC Milan with victory
His immediate future includes World Cup qualifying matches with England before his return to Galaxy in mid-July. Management changes for Milan makes the star's future with that team a little uncertain. David Beckham's Italian sojourn came to an end Sunday when he played the final game of his loan spell with AC Milan, a 2-0 victory over Fiorentina in Florence that secured a place in next season's ... (Mon, 01 Jun 2009 01:17:25 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 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. (Mon, 01 Jun 2009 01:45:11 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 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. (Mon, 01 Jun 2009 01:45:25 GMT)

Credit unions in alliance see mortgage volume rise
Credit unions that have joined a mortgage alliance between Fannie Mae and the National Association of Federal Credit Unions saw a 242 percent surge in residential mortgage lending volume in the first quarter, compared with the same period a year ago. (Mon, 01 Jun 2009 04:45:55 GMT)

Kenneth R. Harney: Attack on mortgage fraud
WASHINGTON — It may not have made a big splash on network news or in print, but for real estate it was the equivalent of a congressional declaration of war — a war against mortgage fraud. (Mon, 01 Jun 2009 06:24:45 GMT)

Rate hike can erode home loan savings
A home loan broker is warning that the substantial savings seen on mortgage repayments in the past year could be quickly reversed once the economy recovers from recession. The Reserve Bank of Austral (Mon, 01 Jun 2009 07:49:06 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. (Mon, 01 Jun 2009 07:49:59 GMT)

Velma and MyMortgageCommunity join forces to simplify marketing for mortgage professionals in one integrated online ...
The new Velma website delivers the "peanut butter and chocolate" of online services for mortgage professionals. Velma.com, a virtual marketing assistant and CRM system, and MyMortgageCommunity.com, a peak performance coaching and online community, have joined forces and released one integrated website (www.velma.com) and business entity designed to make marketing for mortgage originators both ... (Mon, 01 Jun 2009 08:05:00 GMT)

MPs' expenses: Jacqui Lait overclaimed on second home mortgage for three years
Jacqui Lait a former front bench Conservative MP overclaimed on her second home mortgage for three years and had to pay back more than £7000 after it was spotted by the fees office. (Mon, 01 Jun 2009 08:37:53 GMT)

30-year mortgage rates rise, poised to go higher
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. 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. Rates in Freddie Mac's survey have ... (Mon, 01 Jun 2009 09:58:46 GMT)

TransUnion.com: Mortgage Loan Delinquency Rates Rise for Ninth Straight Quarter, but at a Slower Pace
TransUnion.com released today the results of its analysis of trends in the mortgage industry for the first quarter of 2009 and the associated impact on the U.S. consumer. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data available on TransUnion's Web site. (Mon, 01 Jun 2009 10:08:00 GMT)

"Broke" Philippoussis serves up fault on loan payments
MELBOURNE (Reuters) - Australia's former Davis Cup stalwart Mark Philippoussis is in dire financial straits and being sued for defaulting on loan payments for his house, the former top 10 tennis player told local media. (Mon, 01 Jun 2009 12:11:10 GMT)

Economic Update - Mortgage Rate Worries Weigh on Housing Market
General Motors was in the news over the weekend before the largest bankruptcy in U.S. history (that is, its own), but more worrying for many policymakers, economists and ordinary borrowers is last week's sudden spike in mortgage interest rates. (Mon, 01 Jun 2009 12:31:41 GMT)

For Private Equity Industry, Mortgage Financing Main Challenge on Horizon
With the economy in the tank and credit markets frozen, fund sponsors have plenty to worry about, but as Ernst & Young L.L.P. concludes in a new report, their greatest issue is mortgage financing and the capacity to refinance maturing debt on commercial assets over the next 12 to 18 months. (Mon, 01 Jun 2009 12:31:51 GMT)

Low Mortgage Rates Going Away Fast
Americans who've held off buying a home or refinancing may have watched their ship come in -- and sail away again. Thirty-year fixed rate mortgages that had fallen to four-and-three-quarters-percent or lower have suddenly skyrocketed. (Mon, 01 Jun 2009 14:40:35 GMT)

Mortgage-Bond Yields Climb, Suggesting Higher Home-Loan Rates
June 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds climbed, after driving up interest rates on new home loans as they soared late last month. (Mon, 01 Jun 2009 15:22:26 GMT)

Report: Nevada leads in home-loan delinquencies
Another report Monday confirmed Nevada continues to lead the nation in home-loan delinquencies, with job losses locally offering little hope for improvement anytime soon. Mortgage borrower delinquency rates in the first quarter were highest in Nevada (11.61 percent) and Florida (11.01 percent). (Mon, 01 Jun 2009 15:43:14 GMT)

Mortgage-Bond Yields Climb, Suggesting Higher Home-Loan Rates
June 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds climbed, likely pushing up interest rates on new home loans after soaring last month and adding to the hurdles for a recovery in the housing market and economy. (Mon, 01 Jun 2009 16:22:11 GMT)

AIG Replaces Nutt as Chief of Money-Losing Mortgage Insurer
June 1 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S., has replaced William Nutt as chief executive officer of its mortgage guaranty unit after the business posted eight straight quarterly losses. (Mon, 01 Jun 2009 17:04:23 GMT)

UK prime RMBS mortgage arrears on the up
Arrears in prime residential mortgage backed securities rose in the first quarter of this year with Bank of Scotland’s arrears leading the way. ... (Mon, 01 Jun 2009 17:06:55 GMT)

Federal Home Loan Bank of San Francisco Awards $30.3 Million in Affordable Housing Program Grants in Six States
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today awarded $30.3 million in Affordable Housing Program grants in the first round of the 2009 competition. The AHP grants, awarded to 42 projects that address the unique needs of individual communities, will produce 2,558 affordable housing units in Arizona, California, Illinois, Nevada, Texas, and Washington. (Mon, 01 Jun 2009 18:00:00 GMT)

AIG Replaces Nutt as Chief of Mortgage Insurance Unit (Update1)
June 1 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S., replaced the head of its mortgage insurance unit as the company weighs whether to shut the money-losing business. (Mon, 01 Jun 2009 18:09:36 GMT)

Task force tackles Valley mortgage fraud
Mortgage fraud has increased so dramatically in the San Joaquin Valley that a task force of federal, state and local agencies has been formed to fight back. (Mon, 01 Jun 2009 18:12:44 GMT)

Task force tackles Valley mortgage fraud
Mortgage fraud has increased so dramatically in the San Joaquin Valley that a task force of federal, (Mon, 01 Jun 2009 18:17:44 GMT)

How to get a low-interest rate loan
On paper it seems like the perfect time to refinance. The average rate on a 30-year fixed mortgage recently hit a 20-year low when it fell below 5% in mid-March. And the Fed has said that it will spend $300 billion to buy back government-backed Treasury bonds; that will probably keep loan rates low for months to come. (Mon, 01 Jun 2009 19:01:00 GMT)

AIG Names Martinez Head Of Mortgage Insurance Unit
AIG Names Martinez Head Of Mortgage Insurance Unit (Mon, 01 Jun 2009 19:17:43 GMT)

Mortgage-Bond Yields Climb, as Cycle With Treasuries Returns
June 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds climbed, likely pushing up interest rates on new home loans after soaring last month and adding to the hurdles for a recovery in the housing market and economy. (Mon, 01 Jun 2009 19:22:27 GMT)

Are You Ready for Round II of the Mortgage Meltdown?
A troubling report on the mortgage crisis has far-reaching implications. (Mon, 01 Jun 2009 19:53:10 GMT)

AIG names new chief of mortgage insurance unit
NEW YORK—American International Group Inc. on Monday named Eric Martinez Jr. to head United Guaranty Corp., AIG’s mortgage insurer. Mr. Martinez succeeds William V. Nutt, who has left the company, as chief executive officer of Greensboro, N.C.-based United Guaranty. (Mon, 01 Jun 2009 20:04:51 GMT)

The Hidden Costs Of Home Ownership
Mortgage lenders dont factor the extra costs into your loan amount. Make sure you save for the "little" things. (Mon, 01 Jun 2009 21:37:13 GMT)

Mortgage-Bond Yields Climb as Cycle With Treasuries Returns
June 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage bonds soared, likely pushing up interest rates on new home loans after soaring last month and adding to the hurdles for a recovery in the housing market and economy. (Mon, 01 Jun 2009 21:37:50 GMT)

Defendant in largest mortgage fraud could get retrial
A loan officer convicted in one of the largest mortgage-fraud cases in central Ohio history could receive a new trial on two of seven guilty verdicts returned last year by a federal-court jury. (Mon, 01 Jun 2009 22:39:03 GMT)

Senior Management Changes at the Federal Home Loan Bank of San Francisco
SAN FRANCISCO----David Martens, Senior Vice President, Enterprise Risk Management, has been appointed Director of Internal Audit by the Bank's Board of Directors. The Board has also appointed Robert Shovlowsky as Senior Vice President, Credit and Collateral Risk Management. (Mon, 01 Jun 2009 23:29:00 GMT)

Redstone has record-breaking quarter for mortgage lending
The nationwide slump in the housing market seems to have skipped over North Alabama-- one credit union is breaking its own records for mortgage lending. (Tue, 02 Jun 2009 00:20:17 GMT)

AIG Replaces Nutt as Chief of Mortgage Insurance Unit (Update2)
June 1 (Bloomberg) -- American International Group Inc. , the insurer bailed out by the U.S., replaced the head of its mortgage insurance unit as the company weighs whether to shut the money-losing business. (Tue, 02 Jun 2009 00:48:22 GMT)

Division Mortgage
Division Mortgage Group in Billings has been offering first time homebuyers their $8,000 tax credit upfront since February. (Tue, 02 Jun 2009 01:38:37 GMT)

Mortgage lending hits eight-year low
Bankers' association figures suggest housing market 'is over the worst' as homebuying activity picks up Mortgage lending from high street banks slumped to an eight-year low in April, the British Bankers' Association (BBA) said today , but there were also signs of an increase in homebuying activity. Net lending, which takes into account repayments, increased by £2.7bn over the month, down from ... (Tue, 02 Jun 2009 01:48:52 GMT)

When to switch your home loan lender
H ave a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Anil Rego, will answer it. Got a question for Anil Rego? Please write to us at getahead@rediff.co.in with the subject line as Home loan query for Anil Rego . (Tue, 02 Jun 2009 03:28:22 GMT)

Leading Attorney Blasts Federal Government's Efforts to Stop Home Foreclosures
Joseph Hoats, a leading Loan Modification Attorney and founder of Home Stability warns Americans on verge of Foreclosure to be wary of Government Bail-Out programs supposedly designed to assist struggling homeowners. (Tue, 02 Jun 2009 07:01:00 GMT)

Leading Loan Modification Attorney Blasts Federal Government's Efforts to Stop Home Foreclosures
Joseph Hoats, a leading Loan Modification Attorney and founder of Home Stability warns Americans on verge of Foreclosure to be wary of Government Bail-Out programs supposedly designed to assist struggling homeowners. (Tue, 02 Jun 2009 07:01:00 GMT)

Leading Loan Modification Attorney Blasts Federal Government's Efforts to Stop Home Foreclosures
Joseph Hoats, a leading Loan Modification Attorney and founder of Home Stability warns Americans on verge of Foreclosure to be wary of Government Bail-Out programs supposedly designed to assist struggling homeowners. (Tue, 02 Jun 2009 07:01:00 GMT)

Leading Attorney Blasts Federal Government's Efforts to Stop Home Foreclosures
Joseph Hoats, a leading Loan Modification Attorney and founder of Home Stability warns Americans on verge of Foreclosure to be wary of Government Bail-Out programs supposedly designed to assist struggling homeowners. (PRWeb Jun 2, 2009) Read the full story at http://www.prweb.com/releases/mo (Tue, 02 Jun 2009 07:10:04 GMT)

Mortgage rates: Interest rates have edged up since last week
Mortgage rates have ticked up since last week, a local economist said Monday, but are still at historic lows. (Tue, 02 Jun 2009 08:18:26 GMT)

New trial possible in mortgage-fraud case
A loan officer convicted in one of the largest mortgage-fraud cases in central Ohio history could receive a new trial on two of seven guilty verdicts returned last year by a federal-court jury. (Tue, 02 Jun 2009 08:24:34 GMT)

Instant View - Mortgage approvals higher than expected 
Mortgage approvals for house purchase were slightly higher than expected in April, but were still at a level that points to further house price falls, official data showed on Tuesday. (Tue, 02 Jun 2009 08:58:00 GMT)

Mortgage approvals higher in April 
Mortgage approvals for house purchase were slightly higher than expected in April, but still at a subdued level that points to further house price falls, official data showed on Tuesday. (Tue, 02 Jun 2009 09:12:00 GMT)

Mortgage approvals rise for the third month in a row to highest level for more than a year
Mortgage approvals rise for the third month in a row to highest level for more than a year (Tue, 02 Jun 2009 09:23:47 GMT)

Home loan advisers to register with state
In an effort to slow a surge in lending scams, state Attorney General Jerry Brown yesterday issued a directive requiring foreclosure consultants to register with the state and post a $100,000 bond by July 1. (Tue, 02 Jun 2009 09:29:57 GMT)

UK housing market activity ticks up as mortgage approvals rise
A fifth straight rise in mortgage approvals offers some hope for the UK housing market. (Tue, 02 Jun 2009 10:24:41 GMT)

Mortgage Approvals Continue To Rise
UK mortgage approvals have risen for the third month in a row during April, but economists have warned further falls in house prices are expected. (Tue, 02 Jun 2009 10:28:05 GMT)

Futures Rise Ahead of Home Data
Stock futures were pointing toward a slightly higher open Tuesday as Wall Street waits for the release of pending home sales later this morning. (Tue, 02 Jun 2009 11:33:57 GMT)

Mortgage approval rates inch up again in April
The rate of new mortgage approvals climbed higher again in April, according to the Bank of England, which suggests the UK property market is improving. (Tue, 02 Jun 2009 11:59:05 GMT)

Mortgage approvals jump boosting hopes that housing crash is over
The number of people being given a mortgage has increased once again which suggest the worst of the property crash is over. (Tue, 02 Jun 2009 12:04:58 GMT)

How to Get a Home Loan After Bankruptcy
If you've suffered a bankruptcy, that doesn't necessarily mean you can't get a home loan. (Tue, 02 Jun 2009 15:47:42 GMT)

Attorneys' Title Guaranty Fund Co-Sponsoring Second "Fix-Your-Mortgage" Event This Saturday, June 6, at Chicago State ...
Attorneys' Title Guaranty Fund, Inc., the City of Chicago and Neighborhood Housing Services of Chicago, in partnership with the MacArthur Foundation and State Farm are sponsoring a second "Fix-Your-Mortgage" event Saturday, June 6th at Chicago State University, 9501 South King Drive from 9 a.m. to 12 noon. More than 500 homeowners are expected to attend and receive help saving their homes from ... (Tue, 02 Jun 2009 16:00:00 GMT)

Woman pleads guilty in mortgage case
A Savannah woman has pleaded guilty to wire fraud in connection with what federal prosecutors call a mortgage fraud scheme. (Tue, 02 Jun 2009 16:41:19 GMT)

Federal Home Loan Bank of Seattle Announces First Interstate Bank as Recipient of 2009 Community Spirit Award
SEATTLE----The Federal Home Loan Bank of Seattle has named First Interstate Bank, headquartered in Billings, Montana, as the recipient of the Seattle Bank's 2009 Community Spirit Award. (Tue, 02 Jun 2009 17:24:00 GMT)

THDA lowers mortgage rates on loan programs
NASHVILLE — The Tennessee Housing Development Agency has lowered interest rates on three of its mortgage loans in addition to offering the $8,000 federal stimulus tax credit for first-time home buyers. (Tue, 02 Jun 2009 18:20:29 GMT)

Mortgage approvals rise in Britain
LONDON, June 2 (UPI) -- The Bank of England said Tuesday that mortgage approvals rose sharply in April compared to March. (Tue, 02 Jun 2009 18:47:50 GMT)

Mortgage fraud charges against gas stations operator dropped
A year after Chaudhry Asif Rana was charged in federal court with mortgage fraud, all charges have been dropped against him, according to federal court documents. (Tue, 02 Jun 2009 18:57:50 GMT)

No more using Kiwisaver for mortgage payments
There will be no more using KiwiSaver money to help with mortgage repayments. (Tue, 02 Jun 2009 18:59:17 GMT)

Mortgage delinquencies seen rising through 2009
The rate at which people are falling behind on their mortgage payments went up for the ninth straight quarter in the first three months of 2009, and is expected to keep rising through the end of the year, according to credit reporting agency TransUnion. (Tue, 02 Jun 2009 21:38:35 GMT)

Mortgage delinquencies seen rising through 2009
The rate at which people are falling behind on their mortgage payments went up for the ninth straight quarter in the first three months of 2009, and is expected to keep rising through the end of the year, according to credit reporting agency TransUnion.... Related: TransUnion - Mortgage - Credit score - Business - Credit bureau (Tue, 02 Jun 2009 21:53:40 GMT)

2 guilty in mortgage scheme
ST. LOUIS -- Two local men on Tuesday pleaded guilty to running a mortgage scheme that fraudulently pumped up the price of over 250 properties and cost lenders between $7 million and $20 million, the U.S. Attorney's office said. (Tue, 02 Jun 2009 22:20:46 GMT)

Mortgage rates inch above 5%
Mortgage rates have been at histo (Tue, 02 Jun 2009 23:49:50 GMT)

Mortgage arrears hit 10-year low
MORTGAGE arrears decreased in the first quarter as cuts to interest rates and the Federal Government's stimulus payments offset the debt binge that traditionally takes place at Christmas. (Wed, 03 Jun 2009 00:12:00 GMT)

Mortgage arrears fall on lower interest rates
Mortgage arrears decreased in the first quarter as cuts to interest rates and the federal government's stimulus payments offset the debt binge that traditionally takes place at Christmas. (Wed, 03 Jun 2009 00:30:54 GMT)

El Monte woman convicted in Santa Fe Springs loan scam got $1 million in loan proceeds
LOS ANGELES - A real estate agent from Santa Fe Springs was convicted for scheming with her sister to falsify home loan applications (Wed, 03 Jun 2009 02:02:54 GMT)

Buyers May Need To Act Fast For Low Mortgage Rates
We've been hearing about historic low mortgage rates for months now, but they could be going away if buyers don't act quickly enough. CBS 2's Vince Gerasole explains why some analysts say those sitting on the fence may want to hurry. (Wed, 03 Jun 2009 03:47:25 GMT)

"7 on Your Side": Avoiding mortgage fraud
For Mineola mother, Martha McGinnis it's been months of mortgage mayhem. She is afraid of losing her home. She reached out to Apply 2 Save. Now, she's out nearly $1,000. (Wed, 03 Jun 2009 03:52:07 GMT)

Mortgage rates inch back up
Mortgage rates have been at historic lows for about six months, but there are a few early signs they (Wed, 03 Jun 2009 04:04:50 GMT)

Sentencing is Aug. 20 in home-loan scheme
A Memphis real estate appraiser will be sentenced in federal court Aug. 20 after pleading guilty in a home-loan scheme. (Wed, 03 Jun 2009 05:13:57 GMT)

Mortgage arrears decrease in Q1
Mortgage arrears decreased in the first quarter as cuts to interest rates and the federal government's stimulus payments offset the Christmas debt binge. (Wed, 03 Jun 2009 05:41:45 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. (Wed, 03 Jun 2009 07:40:09 GMT)

Mortgage arrears decrease
Austalian mortgage arrears have decreased in the first quarter. (Wed, 03 Jun 2009 08:08:47 GMT)

Banks boost mortgage rates
Canada's biggest banks are hiking key mortgage rates at a time when the bond market is worried about risk and the longer-term threat of inflation. (Wed, 03 Jun 2009 08:45:42 GMT)

MPs' expenses: Alice Mahon's £20000 loan for new doors paid off by the public
The House of Commons fees office allowed Alice Mahona former Labour MP to repay a £20000 home improvement loan using her parliamentary expenses. (Wed, 03 Jun 2009 08:55:43 GMT)

MPs' expenses: Lord Tyler claimed for mortgage then 'sold' flat to his daughter
Lord Tyler of Linkinhorne a Liberal Democrat peer used taxpayers' money to pay the mortgage interest on his familyowned flat in Westminster - and then sold his share to his daughter a month after he quit as an MP. (Wed, 03 Jun 2009 10:24:30 GMT)

Bangkok Post : PM calls meeting on rice mortgage
Prime Minister Abhisit Vejjajiva has called a meeting of the National Rice Policy Committee on Thursday to consider extending the crop mortgage scheme in the face of farmers' demands for increased quotas. (Wed, 03 Jun 2009 10:32:14 GMT)

Mortgage filings drop as fixed rates jump: MBA
Homeowners thought better of refinancing their mortgages as interest charged on fixed-rate home loans jumped in the final week of May, the latest data compiled by the Mortgage Bankers Association show. The seasonally adjusted 16.2% week-to-week drop in overall application volumes stemmed from a 24.1% decrease in refinancing activity. (Wed, 03 Jun 2009 11:22:43 GMT)

U.S. MBA Mortgage Applications Index Fell 16 Percent Last Week
June 3 (Bloomberg) -- Mortgage applications in the U.S. dropped last week as the biggest jump in mortgage rates in seven months pushed down refinancing. (Wed, 03 Jun 2009 11:39:46 GMT)

Is it the Right Time to Refinance Your Home?
Oklahoma City's mortgage companies continue to hear from concerned customers looking to lower their monthly payments, but as the sluggish economy starts to pick back up mortgage rates are creeping up as well. (Wed, 03 Jun 2009 12:08:14 GMT)

Demand for U.S. mortgages falls
U.S. mortgage applications fell last week, reflecting a plunge in demand for home refinancing loans as interest rates surged to their highest levels since late-January, data from an industry group showed on Wednesday. (Wed, 03 Jun 2009 12:10:28 GMT)

Mortgage Applications Tumble Over 16 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume tumbled over 16 percent last week, including an adjustment for the Memorial Day holiday. On an unadjusted basis, the Index plunged 32.5 percent. (Wed, 03 Jun 2009 13:02:33 GMT)

U.S. MBA Mortgage Applications Index Fell 16 Percent Last Week
June 3 (Bloomberg) -- Mortgage applications in the U.S. dropped last week as the biggest jump in mortgage rates in seven months pushed down refinancing. (Wed, 03 Jun 2009 13:21:41 GMT)

U.S. jobs, mortgage data cloud recovery hopes
The U.S. economy's recovery may have stalled after data on Wednesday showed half a million private sector jobs were lost in May and mortgage applications fell last week as rising interest rates frightened away buyers. (Wed, 03 Jun 2009 13:37:28 GMT)

Higher Rates Taking Toll on Home Loan Demand: GMAC CEO
Higher interest rates are exacting a severe toll on home loan demand and U.S. housing prices are not near a bottom, according to the chief executive of one of the country's largest lenders. (Wed, 03 Jun 2009 13:46:13 GMT)

Treasuries Rise After Mortgage, Jobs Reports as Fed to Buy Debt
June 3 (Bloomberg) -- Treasuries rose for a second day after U.S. mortgage applications dropped last week and a private report showed employers cut more jobs than expected last month. (Wed, 03 Jun 2009 13:52:21 GMT)

Mortgage applications sink
As rates jump, home refinancing demand drops off, according to a report from the Mortgage Bankers Association. (Wed, 03 Jun 2009 14:18:50 GMT)

Federal Home Loan Bank of Atlanta Declares No Dividend for First Quarter 2009
The Board of Directors of Federal Home Loan Bank of Atlanta has announced that the Bank will not pay a dividend for the first quarter of 2009. (Wed, 03 Jun 2009 16:29:00 GMT)

Mortgage Applications Down as Rates Surge Higher
Mortgage applications fell last week, reflecting a plunge in demand for home refinancing loans as interest rates surged to their highest levels since late January, data from an industry group showed on Wednesday. (Wed, 03 Jun 2009 16:30:56 GMT)

Mortgage Applications Fall as Interest Rates Rise
Mortgage loan applications fell last week as interest rates inched up, according to industry data released today. (Wed, 03 Jun 2009 17:54:56 GMT)

Mortgage Bankers: Refinancing demand slackens
As interest rates move higher, new numbers from the Mortgage Bankers Association show that the demand for home refinancing is dropping. (Wed, 03 Jun 2009 18:05:04 GMT)

Interest-free down payment loans available to east San Fernando Valley home buyers
The Los Angeles Community Redevelopment Agency is making interest-free down payment loans available to prospective home buyers in the eastern San Fernando Valley who qualify for a mortgage loan but need help with up-front money, city leaders announced today. (Wed, 03 Jun 2009 18:11:38 GMT)

Major Jump In Mortgage Rates Hasn't Hurt Home Sales - Yet
The recent surge in mortgage rates hasn't put a crimp in the housing recovery so far, but some economists think it could if rates head much higher. (Wed, 03 Jun 2009 18:12:52 GMT)

Mortgage Bankers: Refinancing demand slackens
As interest rates move higher, new numbers from the Mortgage Bankers Association show that the demand for home refinancing is dropping. (Wed, 03 Jun 2009 18:38:14 GMT)

Five indicted in mortgage fraud scheme that targeted banks and home sellers
A federal grand jury in Seattle has indicted five people in an alleged mortgage-fraud scheme that prosecutors say involved dozens of falsified real-estate sales used to scam banks and innocent sellers in the Puget Sound area out of at least $18 million in loans. (Wed, 03 Jun 2009 18:48:13 GMT)

U.S. Refinancing Tumbles as Window Closes: Chart of the Day
June 3 (Bloomberg) -- Applications to refinance mortgages have tumbled since fixed, 30-year mortgage rates began moving up from a historic low at the end of April as the recession showed signs of easing. (Wed, 03 Jun 2009 18:53:57 GMT)

Study: Mortgage modifications decline
WASHINGTON, June 3 (UPI) -- Mortgage modifications among struggling U.S. homeowners dropped sharply in May compared to April, a university study said. (Wed, 03 Jun 2009 19:02:53 GMT)

Mortgage applications fall, rates rise
The rise in interest rates caused mortgage applications to plunge last week, according to the Mortgage Bankers Association. (Wed, 03 Jun 2009 19:12:19 GMT)

Mortgage applications fall, rates rise
The rise in interest rates caused mortgage applications to plunge last week, according to the Mortgage Bankers Association. (Wed, 03 Jun 2009 21:46:30 GMT)

US mortgage applications down
US mortgage applications fell last week, reflecting a plunge in demand for home refinancing loans as interest rates surged to their highest levels since late January. (Wed, 03 Jun 2009 22:24:06 GMT)

Federal Home Loan Bank of Seattle faces further scrutiny
The Federal Home Loan Bank of Seattle could face further federal regulatory restrictions and may have to come up with a formal plan to bulk up its diminished capital levels. (Thu, 04 Jun 2009 00:26:29 GMT)

5 indicted in mortgage fraud scheme
Associated Press - June 3, 2009 8:45 PM ET SEATTLE (AP) - In Seattle ... a federal grand jury has indicted five people in an alleged mortgage-fraud scheme. (Thu, 04 Jun 2009 00:57:15 GMT)

N.Y. City Attorney Arrested for Mortgage Fraud, Forgery
An attorney with the New York City Law Department who had a gambling problem was arrested Tuesday for mortgage fraud that involved inventing a lawsuit and forging the signature of a bankruptcy judge. Hugh Zuber, an assistant corporation counsel who works in the special federal litigation division, allegedly used the Corporation Counsel's office for a meeting with one of his victims in one of two ... (Thu, 04 Jun 2009 02:38:10 GMT)

Mortgage experts answer questions
Can I buy a house with no money down? Should I refinance my loan? Brian Whetzel, manager of the C&F Mortgage branch in Fredericksburg's Celebrate Virginia South, and Joanna Butler, a loan officer there, answered about 20 questions on these and other mortgage-loan-related topics in Tuesday's installment of Money Talk$.... (Thu, 04 Jun 2009 05:19:12 GMT)

Mortgage default rate low in Abilene
Home mortgage defaults seem to be much less of a problem around Abilene than across the country, a spot check of local lenders indicates. (Thu, 04 Jun 2009 06:09:00 GMT)

Refinancing drives mortgage activity
Even as the housing market continues its lackluster performance, the number of mortgages filed with the county has climbed in the first five months of the year, driven by a surge of refinancing activity. (Thu, 04 Jun 2009 06:15:14 GMT)

ICICI Bank home, auto loans to get cheaper
MUMBAI: The country's largest private sector lender, ICICI Bank, on Thursday slashed its benchmark lending rate by 50 basis points to 15.75 per cent, a move that would benefit the bank's home, auto, consumer and corporate loan borrowers. (Thu, 04 Jun 2009 08:54:13 GMT)

Mortgage rates shoot up
The 30-year fixed-rate mortgage rose to 5.65 percent, according to Bankrate's weekly survey. (Thu, 04 Jun 2009 10:00:00 GMT)

End of refi boom no worry for big banks
The refinancing tide has ebbed, but mortgage profits for the nation's biggest banks are in no danger of drying up. (Thu, 04 Jun 2009 10:03:40 GMT)

Government to wage all out war to wipe out loan shark menace - Hishammuddin
PUTRAJAYA: The government will wage an all out war to wipe out the menace of loan sharks (Ah Long) since they are also known to be involved in drug trafficking, prostitution, gangsterism and other illegal activities, said minister of Home Affairs Datuk Seri Hishammuddin Tun Hussein. (Thu, 04 Jun 2009 10:22:07 GMT)

Planning to take a home loan? Read this
Home loan expert Harsh Roongta advices borrowers on points to consider before going to a home loan lender. (Thu, 04 Jun 2009 10:30:10 GMT)

Mortgage applications fall, rates rise
The rise in interest rates caused mortgage applications to plunge last week, according to the Mortgage Bankers Association. (Thu, 04 Jun 2009 11:02:04 GMT)

Want to modify mortgage? Get a trial run
As if a borrower didn't face enough hurdles in the quest for a mortgage modification, now there is another. It's the required "trial period" of the federal government's Home Affordable Modification program, and it may be a feature of other mortgage modifications as well. (Thu, 04 Jun 2009 11:42:24 GMT)

Time Running Out To Refinance
A recent spike in home loan rates has homeowners racing the clock to refinance before rates go even higher. (Thu, 04 Jun 2009 12:08:43 GMT)

Convergys Launches Loan Modification Solutions that Provide Mortgage Lenders with New Capabilities to Improve the ...
CINCINNATI----Convergys Corporation , a global leader in relationship management, today announced the immediate availability of new Convergys Loan Modification Solutions. The solutions enable mortgage service providers to quickly and effectively respond to heavy customer demand for refinancing by leveraging Convergys' skilled live agent assistance and award-winning self-service automation ... (Thu, 04 Jun 2009 14:08:00 GMT)

Nine accused of $92 million U.S. mortgage fraud scheme
Nine people have been indicted on charges of conspiring to defraud Washington Mutual Bank and DLJ Mortgage Capital Inc, a unit of Credit Suisse Group AG, in a $92 million mortgage fraud scheme, prosecutors said on Thursday. (Thu, 04 Jun 2009 14:16:51 GMT)

U.S. Indicts Nine in a $92 Million Mortgage Fraud (Update1)
June 4 (Bloomberg) -- Nine people were charged in a $92 million scheme to defraud Washington Mutual Bank and DLJ Mortgage Capital Inc., a unit of Credit Suisse Group AG , in connection with the development of properties in Brooklyn and Queens, New York. (Thu, 04 Jun 2009 14:48:37 GMT)

Bing: My own stress test
It all started when mortgage rates plummeted a few months ago. I read the papers and said to myself, "You're paying 6.75% on your loan for this apartment. Rates are in the high 4% range now. You should probably refinance." Since I always listen to myself on such matters, I decided to look into it. If I had known what I was in for, I would have slapped myself silly. Instead I let the bank do it. (Thu, 04 Jun 2009 14:48:50 GMT)

Freddie Mac: Fixed Mortgage Rates Climb
Freddie Mac: Fixed Mortgage Rates Climb (Thu, 04 Jun 2009 14:49:07 GMT)

Mortgages: Big jump in mortgage rates; 30-year hits 5.29%
Average rates on the 30-year fixed-rate mortgage hit a 25-week high after jumping more than a third of a percentage point this week. (Thu, 04 Jun 2009 14:52:53 GMT)

Mortgage rates surge above 5 percent for 1st time in 3 months
Mortgage finance giant Freddie Mac said today that average rates on 30-year fixed-rate mortgages rose to 5.29 percent this week, from an average of 4.91 percent a week earlier. (Thu, 04 Jun 2009 15:40:19 GMT)

Mortgage rates above 5 pct for 1st time in 3 mos
Rates on 30-year home loans surged above 5 percent for the first time in nearly three months this week as investors pushed up rates on long-term government debt, which is closely tied to mortgage rates. Mortgage finance giant Freddie Mac said Thursday that... Sponsored Topics: Freddie Mac - Mortgage - Business - Government debt - United States (Thu, 04 Jun 2009 15:53:39 GMT)

Mortgage rates rise in week
WASHINGTON, June 4 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages increased in the week ending June 4, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 04 Jun 2009 16:33:00 GMT)

U.S. Mortgage Rates Jump to Highest Since December (Update3)
June 4 (Bloomberg) -- Fixed U.S. mortgage rates jumped to the highest level this year, signaling the Federal Reserve’s plan to lower borrowing costs has stalled. (Thu, 04 Jun 2009 17:03:16 GMT)

U.S. Mortgage Rates Jump to Highest Since December (Update3)
June 4 (Bloomberg) -- Fixed U.S. mortgage rates jumped to the highest level this year, signaling the Federal Reserve’s plan to lower borrowing costs has stalled. (Thu, 04 Jun 2009 17:06:38 GMT)

Mortgage rates above 5 pct for 1st time in 3 mos
Rates on 30-year home loans surged above 5 percent for the first time in nearly three months this week as investors pushed up rates on long-term government debt, which is closely tied to mortgage rates. (Thu, 04 Jun 2009 17:12:03 GMT)

Mortgage-Rate Jump Undercuts Refinancing Demand
The sharp rise in rates is making mortgage refinancing less attractive for many homeowners. (Thu, 04 Jun 2009 18:30:06 GMT)

Mortgage Rates Highest Since December 2008
(New York, NY) -- Mortgage rates are moving up. Fixed-rate 30-year mortgages have spiked to their highest level in almost six months, to just under five-point-three percent for the week ending June 4th. (Thu, 04 Jun 2009 18:33:44 GMT)

Nine accused in $92 million New York mortgage fraud
Nine people have been indicted on charges of conspiring to defraud Washington Mutual Bank and DLJ Mortgage Capital, a unit of Credit Suisse Group, in a $92 million mortgage fraud, prosecutors said Thursday. (Thu, 04 Jun 2009 18:44:10 GMT)

JAILED FINANCIER NAMED IN $92M MORTGAGE FRAUD
A jailed financier convicted of laundering bribes for a California congressman was hit with new federal charges today for orchestrating a $92 million mortgage fraud scheme in New York. An indictment unsealed today in Brooklyn federal court charges... (Thu, 04 Jun 2009 19:20:12 GMT)

ICICI cuts home loan rates by 0.5%
In a move that's expected to boost the flagging housing sector, ICICI Bank made its home loans cheaper by announcing a cut of half percentage point on its floating reference rate, the benchmark for floating rate loans. (Thu, 04 Jun 2009 19:48:28 GMT)

Mortgage rates soar
Home mortgage rates jumped in the most recent week, with the average 30-year fixed rate rising to 5.65%, according to a report released Thursday. (Thu, 04 Jun 2009 20:33:40 GMT)

Bond yields rise after better jobless claims data
Bond yields are heading higher again, a troubling trend for potential homebuyers or mortgage holders looking to refinance. (Thu, 04 Jun 2009 21:22:48 GMT)

Paul R. Ackerman Joins the Federal Home Loan Bank of San Francisco Board of Directors
SAN FRANCISCO----The Board of Directors of the Federal Home Loan Bank of San Francisco has selected Paul R. Ackerman to fill an open member director position on its Board, effective May 28, 2009. (Thu, 04 Jun 2009 21:29:00 GMT)

Mortgage Pioneer Accused Of Fraud
The Securities and Exchange Commission yesterday charged former Countrywide chief Angelo R. Mozilo, who ran the nation's largest subprime mortgage lender, with fraud, making him the most prominent executive accused of illegality in connection with the financial crisis. (Fri, 05 Jun 2009 01:58:22 GMT)

Mortgage rates rise to 6-month high above 5%
Mortgage rates have risen to their highest levels in six months, threatening to delay a housing turnaround by discouraging potential home buyers. (Fri, 05 Jun 2009 02:12:34 GMT)

Mortgage delinquencies up in Arizona
Arizona has the third-highest rate of mortgage delinquencies, according to a new study of credit-report files. (Fri, 05 Jun 2009 03:38:37 GMT)

ASB hikes longer term fixed home loan rates
ASB has raised its longer term home loan rates, with the five-year rate rising to 8 percent. (Fri, 05 Jun 2009 04:24:41 GMT)

Mortgage crisis robbing seniors of golden years
The worst economic crisis since the Great Depression has slashed home values and triggered an unprecedented surge in foreclosures across the nation. It's also taking an especially harsh toll on an often overlooked demographic: seniors who are retired or nearly so.Howard Weiss is 77 and scared. (Fri, 05 Jun 2009 06:39:36 GMT)

Mortgage rates surge to highest this year
U.S. mortgage rates jumped to their highest level this year, signaling the Federal Reserve's plan to lower borrowing costs has stalled... (Fri, 05 Jun 2009 07:15:27 GMT)

Mortgage rates top 5% again
Fixed U.S. mortgage rates jumped to the highest level this year, narrowing the window for homebuyers to get especially low rates. (Fri, 05 Jun 2009 07:40:58 GMT)

Bangkok Post : Govt mortgage for prawns
Prawn farmers from eight southern provinces who had blocked the Tinsulanonda bridge in Songkhla for two days dispersed peacefully on Friday afternoon after the government agreed to continue its prawn mortgage scheme. (Fri, 05 Jun 2009 10:47:14 GMT)

MORTGAGE-GO-ROUND
Despite President Barack Obama's new struggle to hold down soaring mortgage rates, he's being stymied by his own efforts to jumpstart the economy. The rate on a 30-year, fixed-rate mortgage this week surged to 5.29 percent, up from 4.91 percent... (Fri, 05 Jun 2009 10:55:44 GMT)

Rising mortgage rates may hamper housing recovery
Fixed US mortgage rates jumped to the highest level this year, signaling that the Federal Reserve's plan to lower borrowing costs has stalled. (Fri, 05 Jun 2009 11:00:01 GMT)

Realty Q&A: One owner's tale of mortgage-modification hell
Trying to get a mortgage modified is a long and arduous process, leaving tens of thousands of borrowers in the same baffling position -- frustrated and concerned they're not being heard. (Fri, 05 Jun 2009 12:22:43 GMT)

Convergys Launches Loan Modification Solutions that Provide Mortgage Lenders with New Capabilities to Improve the ...
Cincinnati - Conv ergys Corporation , a global leader in relationship management , today announced the immediate availability of new Convergys Loan Modification Solutions . The solutions enable mortgage service providers to quickly and effectively respond to heavy customer demand for refinancing by leveraging Convergys’ skilled live agent assistance and award-winning self-service automation ... (Fri, 05 Jun 2009 14:33:28 GMT)

Convergys Launches Loan Modification Solutions that Provide Mortgage Lenders with New Capabilities to Improve the ...
CINCINNATI----Convergys Corporation , a global leader in relationship management, today announced the immediate availability of new Convergys Loan Modification Solutions. The solutions enable mortgage service providers to quickly and effectively respond to heavy customer demand for refinancing by leveraging Convergys' skilled live agent assistance and award-winning self-service automation ... (Fri, 05 Jun 2009 14:44:00 GMT)

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