Mortgage News Jun 2009

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Calyx Software Recognized as Top 50 Service Provider by Mortgage Technology Magazine
DALLAS----Calyx® Software®, the preferred mortgage solution provider for banks, credit unions, mortgage bankers and brokers, has been selected as one of the 2009 Top 50 Service Providers by Mortgage Technology. (Thu, 25 Jun 2009 11:50:00 GMT)

Home loans office opens in Crestline
CRESTLINE -- Despite today's shaky housing market, a new home mortgage loan business offers options to purchase, build and refinance homes. (Thu, 25 Jun 2009 11:50:44 GMT)

Bankrate says 30-yr. mortgage rate rises
NEW YORK (MarketWatch) -- The average 30-year fixed mortgage rate was slightly higher this week, rising to 5.80%, according to Bankrate.com's weekly national survey Thursday. The average 30-year fixed mortgage has an average of 0.45 discount and origination points. The average 15-year fixed rate mortgage inched lower to 5.16%, while the average jumbo 30-year fixed rate pushed above the 7% mark ... (Thu, 25 Jun 2009 12:04:09 GMT)

Advice for the 'quick turnaround' home seller
The right price is key to those who must sell in hurry Are you unemployed but have been lucky to land a good job in another state? Yet is it financially imperative that you sell your current home to buy again in the new city? (Thu, 25 Jun 2009 12:37:01 GMT)

Bankrate Says 30-yr. Mortgage Rate Rises
Bankrate Says 30-yr. Mortgage Rate Rises (Thu, 25 Jun 2009 12:38:33 GMT)

Invesco Mortgage reduces size of public offering
Invesco Mortgage Capital Inc. is scaling back the size of its initial public offering to 8.5 million shares from 20 million shares, according to a regulatory filing submitted Thursday. (Thu, 25 Jun 2009 14:49:01 GMT)

Mortgages: Mortgage rates settle down after volatile month
Mixed economic reports on the state of the housing market caused mortgage rates to move little or remain flat this week, Freddie Mac’s chief economist said on Thursday, following four weeks of volatile ups and downs. (Thu, 25 Jun 2009 14:52:33 GMT)

National Home Loan Advocates is Helping Consumers Get Their Best Mortgage Terms
National Home Loan Advocates announces new services to help consumers avoid mortgages that have inflated fees, interest rates that are too high, and home loans that contain predatory terms. (Thu, 25 Jun 2009 15:00:00 GMT)

US FHFA:30-Year Average Mortgage Interest Rate Rises To 4.88% In May
WASHINGTON -(Dow Jones)- Average interest rates for conventional 30-year, fixed-rate mortgage loans of $417,000 or less rose one basis point to reach 4.88% in May, the U.S. Federal Housing Finance Agency said Thursday. (Thu, 25 Jun 2009 17:58:17 GMT)

Mortgage rates tick up, remain above lows
Rates for 30-year home loans edged up this week, remaining above record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.42 percent, up from 5.38 percent a week earlier, mortgage company Freddie Mac said Thursday. (Thu, 25 Jun 2009 18:37:02 GMT)

Mortgage rates tick up, remain above lows
Rates for 30-year home loans edged up this week, remaining above record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.42 percent, up from 5.38 percent a week earlier, mortgage company Freddie Mac said Thursday. "Mixed... Sponsored Topics: Freddie Mac - Mortgage - Tax rate - Mortgage Rates Predictions - Low Mortgage Rate Refinance (Thu, 25 Jun 2009 18:53:19 GMT)

Mortgage rates mixed in week
WASHINGTON, June 25 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages rose in the week ending June 25, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 25 Jun 2009 19:02:50 GMT)

Radian Guaranty Implements Program to Assist Homeowners Refinance to Lower Interest Rates
PHILADELPHIA----Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc. , announced today the launch of a program which helps qualify borrowers for traditional refinances on loans not currently serviced by their present lender - even with today's declining home process and tighter lending standards. (Thu, 25 Jun 2009 19:15:00 GMT)

Home loans, grants available from USDA 06-25-09
By TOMMY YOUNG Herald Staff Writer Residents can get assistance with applications and information about housing loan and grant programs when the U.S. Department of Agriculture Rural Development hosts a home ownership workshop from 9 a.m. to 1 p.m. Friday at City Hall, 901 Broadway. (Thu, 25 Jun 2009 19:32:40 GMT)

Mortgage-Bond Yields Decline to Lowest in More Than Three Weeks
June 25 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined to the lowest in more than three weeks, signaling that interest rates on new home loans will likewise fall and ease the U.S. housing slump. (Thu, 25 Jun 2009 19:52:30 GMT)

Dalton Distressed Mortgage Fund Is Finding Opportunities
NEW YORK -(Dow Jones)- Some people still make a gagging sound when Steve Persky mentions the word "subprime." That's why he said he thinks it's time to invest in distressed mortgage loans. (Thu, 25 Jun 2009 19:56:20 GMT)

LOCK STEPS
Getting a good rate on a mortgage is a little like telling a joke -- timing is crucial. Right now, rates are favorable for anybody qualified for a mortgage or a refinancing. Yesterday, the rate for a 30-year fixed mortgage was 5.41 percent... (Thu, 25 Jun 2009 20:05:13 GMT)

Mortgage-Bond Yields Decline to Lowest in More Than Three Weeks
June 25 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined to the lowest in more than three weeks, signaling that interest rates on new home loans will likewise fall and ease the U.S. housing slump. (Thu, 25 Jun 2009 20:23:55 GMT)

Mortgage Window Shopping - 5 Tips for Prospective Home Buyers
RISMEDIA, June 26, 2009-(MCT)-After a recent spike seen in mortgage rates, some consumers are wondering whether they've missed their chance to refinance into an ultra-low rate. Fear not: While the conforming 30-year fixed-rate mortgage hit a daily average of 5.81% last Thursday, it averaged 5.53% on Tuesday, said Keith Gumbinger, vice president ... (Thu, 25 Jun 2009 20:42:25 GMT)

Mortgage-Bond Yields Decline to Lowest in More Than Three Weeks
June 25 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined to the lowest in more than three weeks, signaling that interest rates on new home loans will fall and ease the U.S. housing slump. (Thu, 25 Jun 2009 23:19:03 GMT)

Mortgage criteria tightened
ELKO — Mortgages are harder to get these days because of tougher requirements, and the high rate of foreclosures in the Las Vegas and Reno areas has hurt all of Nevada, but people shouldn’t be discouraged, said Andy Morris of Eagle Home Mortgage. (Thu, 25 Jun 2009 23:51:17 GMT)

Japan mortgage crisis to explode
ANAEMIC exports, a struggling domestic economy and a plunge in bonuses could trigger Japan's version of the subprime mortgage crisis (Fri, 26 Jun 2009 00:27:00 GMT)

S.Korea asks banks to control mortgage loan growth
SEOUL, June 26 (Reuters) - A South Korean regulator has advised banks to refrain from home-backed lending, an official said on Friday, with stable borrowing costs and loosened rules over property transactions starting to drive home prices higher. (Fri, 26 Jun 2009 01:52:08 GMT)

Couple’s €44,000 mortgage exit fee upheld
A RULING that a financial institution was entitled to charge a €44,000 exit fee to a couple seeking to switch to a variable rate mortgage doesn’t bode well for householders considering a similar move. (Fri, 26 Jun 2009 02:09:10 GMT)

Three former Portland-area mortgage brokers face fraud charges
A federal grand jury charged three former Portland-area mortgage brokers with fraud on Wednesday. Joel D. Surprenant, Michael Duc Han and Benjamin Lucian Lucescu all were charged with one count of obtaining mortgage loans through materially false and fraudulent pretenses.... (Fri, 26 Jun 2009 02:45:12 GMT)

Home purchase was made easy
A grateful thank you to Alex Diehl of Village Escrow, Leslie Boyd of Loan Warehouse and Lorene Johnson of Willis Allen real estate for being a fantastic, efficient group of people to work with. They made the job of purchasing a home seamless. Thank you for all your hard work. The Reynolds family... (Fri, 26 Jun 2009 02:59:51 GMT)

Featured Advertiser
Mortgage Rates at 4.55% APR. Refinance Now & Save $1000s! $250,000 Mortgage for $874/mo. No Closing Cost Options. Get 4 FREE Quotes! (Fri, 26 Jun 2009 04:00:00 GMT)

When it comes to mortgage rates and buying a home, now is the time
FALLBROOK With the spring home-buying season in full bloom and great prices and low interest rates available, theres no shortage of real estate prognosticators urging Americans to buy, sell or refinance. President Barack Obama believes now is as good a time as any in the past 40 years to buy or refinance a home. I think for so many people around this country, the essence of the American Dream is ... (Fri, 26 Jun 2009 04:14:58 GMT)

TODAY’S DEALS: HFF Arranges $23.28M Refinancing for 260-Unit Rental Community, and Other Transactions
Rancho Cucamonga, Calif.--HFF (Holliday Fenoglio Fowler, L.P.) recently arranged a $23.28 million refinancing for Ironwood Apartments ( pictured ), a 260-unit multifamily community in Rancho Cucamonga, Calif. (Fri, 26 Jun 2009 06:23:58 GMT)

Mortgage criteria tightened
ELKO — Mortgages are harder to get these days because of tougher requirements, and the high rate of foreclosures in the Las Vegas and Reno areas has hurt all of Nevada, but people shouldn’t be discouraged, said Andy Morris of Eagle Home Mortgage. (Fri, 26 Jun 2009 06:52:20 GMT)

Home Front: Despite programs meant to help, many homeowners still frustrated
Day in and day out since 2007, callers who struggle with mortgages throughout the Sacramento region, those who can't sleep for worrying, who want to stay with houses that have lost $150,000 in value, have phoned Home Front to fret and express a common sentiment. (Fri, 26 Jun 2009 07:03:48 GMT)

WRAPUP 1-S.Korea asks banks to control mortgage loan growth
* Banks advised to restrain home-backed loans (Fri, 26 Jun 2009 07:04:16 GMT)

Home loan: Rates on 30-year, fixed mortgages still edging higher
Rates for 30-year home loans edged up this week, remaining above record lows reached over the spring, Freddie Mac said Thursday. (Fri, 26 Jun 2009 07:25:09 GMT)

InteliFlo launches web-based mortgage sourcing system
IntelliFlo has released its new integrated web-based mortgage sourcing system within its front, middle and back office solution, Intelligent Office. ... (Fri, 26 Jun 2009 09:37:11 GMT)

Mortgage Rates Climb
Rates for 30-year home loans edged up this week, remaining above record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.42 percent, up from 5.38 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates on 30-year mortgages fell to a record low of 4.78 percent earlier this year. But then they rose... (Fri, 26 Jun 2009 10:02:21 GMT)

Ombudsman backs lender in mortgage case
The Financial Services Ombudsman has found in favour of a financial institution which is charging a young couple €44,000 in fees to change from a fixed to a variable rate mortgage. (Fri, 26 Jun 2009 11:08:25 GMT)

KB Home's Quarterly Loss Narrows
KB Home's Quarterly Loss Narrows (Fri, 26 Jun 2009 12:54:22 GMT)

Freddie Mac May portfolio shrank annualized 9.9 pct
Freddie Mac , the second-largest U.S. home funding company, on Friday said its mortgage investment portfolio shrank by an annualized 9.9 percent rate in May, while delinquencies on loans it guarantees accelerated. (Fri, 26 Jun 2009 13:24:18 GMT)

City Pacific digs in over First Mortgage management role
Gold Coast finance group City Pacific disputes claims that it has lost the right to manage the $630 million First Mortgage Fund to Balmain Trilogy. (Fri, 26 Jun 2009 14:21:51 GMT)

Arizona investigating mortgage firms for fraud
Arizona Attorney General Terry Goddard said the state is investigating more than 50 mortgage modification and refinancing firms his office has received complaints about for ripping off consumers. (Fri, 26 Jun 2009 15:13:27 GMT)

Three Former Portland-Area Mortgage Brokers Face Fraud Charges
Jun. 26--A federal grand jury charged three former Portland-area mortgage brokers with fraud on Wednesday. (Fri, 26 Jun 2009 16:23:53 GMT)

This Weeks Poll
Which of these is your favorite ride? AMARILLO -- Now's the time to refinance your home if you still haven't. Experts say the rate is still pretty low. It's at 5.375 for a 30-year mortgage. (Fri, 26 Jun 2009 16:33:34 GMT)

Mortgage firm found guilty
CONCORD – An Amherst woman has won a $40,000 judgment against a mortgage giant after a judge ruled the firm harassed her by making at least 200 collection calls to her home in a year. (Fri, 26 Jun 2009 16:44:56 GMT)

Ask Barbara: Don't pass on an opportunity to buy a lottery home
Q: I was picked by lottery to purchase an NYC-subsidized home about a year ago. It is a multifamily home in Brooklyn. We are finally near to closing, but I am not sure if I should continue with this purchase because of the econ. (Fri, 26 Jun 2009 17:08:18 GMT)

GBP/USD: Trading the U.K. Mortgage Approvals Report
U.K. mortgage approvals increased to a yearly high of 43K in June, with household confidence improving during the same period, and the data suggests that the downturn in the housing is nearing a bottom as the government takes extraordinary steps to steer the economy out of the worst recession since World War II. (Fri, 26 Jun 2009 17:52:00 GMT)

Home loans, grants available from USDA 06-25-09
By TOMMY YOUNG Herald Staff Writer Residents can get assistance with applications and information about housing loan and grant programs when the U.S. Department of Agriculture Rural Development hosts a home ownership workshop from 9 a.m. to 1 p.m. Friday at City Hall, 901 Broadway. (Fri, 26 Jun 2009 18:17:26 GMT)

Three Borrowers Win Loan Payments from Columbia Credit Union
VANCOUVER, Wash.----Three lucky borrowers will win loan payments for a year from Columbia Credit Union in Southwest Washington. The three grand prizes cover 12 months of mortgage payments, home equity payments or auto loan payments. (Fri, 26 Jun 2009 18:22:00 GMT)

First Bank closes Lumina Mortgage
By Wayne Faulkner wayne.faulkner@StarNewsOnline.com First Bank on Friday shut down Lumina Mortgage Co. and folded the mortgage bank’s functions and business into its own operations. Customers in the process of getting a mortgage, however, should be unaffected, said Mark Vernon, a loan originator at Lumina’s main office, 219 Racine Drive. (Fri, 26 Jun 2009 18:37:15 GMT)

US Regulators Seek Comment On Rule For Modified Mortgage Loans
WASHINGTON -(Dow Jones)- U.S. regulators are seeking public comment on a rule for mortgage loans modified under a Treasury Department plan to help homeowners. (Fri, 26 Jun 2009 18:56:38 GMT)

National City Mortgage faces possible cuts
As a part of its merger with National City Corp., PNC Financial Services Group Inc. has decided to keep National City Mortgage in Miami Township, but the mortgage loan servicing operation might experience some job losses. (PNC) (Fri, 26 Jun 2009 19:01:11 GMT)

U.S. home loan fix group optimistic as problems rise
The U.S. housing market hasn't been this bleak in generations, yet HOPE NOW chief Faith Schwartz is still plenty optimistic. (Fri, 26 Jun 2009 20:06:00 GMT)

GBP/USD: Trading the U.K. Mortgage Approvals Report
U.K. mortgage approvals increased to a yearly high of 43K in June, with household confidence improving during the same period, and the data suggests that the downturn in the housing is nearing a bottom as the government takes extraordinary steps to steer the economy out of the worst recession since World War II. At the same time, BoE Deputy Governor Charles Bean said lending practices may ... (Fri, 26 Jun 2009 20:08:21 GMT)

Invesco Mortgage Closes Lower On First Day Of Trading
Invesco Mortgage Capital Inc. (IVR) drew a slightly negative reaction from investors on its first day of trading Friday amid a broad market downturn. (Fri, 26 Jun 2009 20:56:10 GMT)

Mortgage REITs Are Back In Style
Wall Street is pitching investors on buying heavily discounted mortgage-backed securities. (Fri, 26 Jun 2009 21:15:05 GMT)

W.J. Bradley Mortgage merges with Arizona firm
An Arizona company has merged its operations with a Denver mortgage giant. (Fri, 26 Jun 2009 21:47:58 GMT)

MORTGAGE REFINANCING
To find extra spending money, try looking in your house. (Sat, 27 Jun 2009 01:41:12 GMT)

F.I.S.H. Out of Water: Art Work Gets New Home at the San Antonio Museum of Art on Loan from San Antonio River Foundation
SAN ANTONIO, TX.- One of the city’s new famed long eared sunfish will make its way to the San Antonio Museum of Art on Monday, June 29, as the San Antonio River Foundation loans this iconic work of art from Donald Lipski’s F.I.S.H. installation under IH-35 to the museum for all to see up-close in a new context and space. (Sat, 27 Jun 2009 02:12:09 GMT)

Plan for best deal as mortgage rates slump
CHICAGO | After a recent spike seen in mortgage rates, some consumers are wondering whether they've missed a chance to refinance into an ultra-low rate. (Sat, 27 Jun 2009 02:46:24 GMT)

Two Banks Re-enter the Jumbo Mortgage Business
JPMorgan Chase and Citigroup are expanding their “jumbo” mortgage businesses used to buy the most expensive homes. (Sat, 27 Jun 2009 04:10:03 GMT)

Starwatch Consumer | Mortgage estimate lowered; Samsung defends patents
Mortgage volume forecast for year is chopped The Mortgage Bankers Association slashed its 2009 estimate for mortgage volume by 27 percent because of higher interest rates and the slow start to the government-support refinance program. (Sat, 27 Jun 2009 04:17:32 GMT)

Lessons Learned: NIFA's mortgage bridge loan for first-time buyers
Back in April, a tax preparer told me that several of his clients were eager to help children or grandchildren take advantage of the new federal tax credit available to first-time home buyers. (Sat, 27 Jun 2009 05:44:54 GMT)

Banker says timing right to add mortgage business
Amid one of the slower housing and tighter mortgage markets the country has seen, Wallis State Bank has entered the mortgage. (Sat, 27 Jun 2009 05:52:31 GMT)

Is it time for underwater homeowners to be given a get-out-of-debt-free card?
Some housing experts believe there is no alternative but outright forgiveness of a substantial chunk of mortgage debt for many people who are at risk of foreclosure. Government and private-lender attempts to stem the home foreclosure crisis so far have mostly focused on loan modifications or refinancing -- giving borrowers a temporary or permanent reduction in their monthly payments. (Sat, 27 Jun 2009 06:22:00 GMT)

Mortgage applications rebound
Mortgage applications in the U.S. increased a week ago for the first time in a month as purchases climbed, adding to evidence the market is stabilizing. (Sat, 27 Jun 2009 09:17:11 GMT)

Mortgage interest volatility
Mortgage interest volatility By FRANK DUNNE JR. Interest rates are significantly more volatile than home values and an uptick of a point or two can take a home out of your affordability range in a heartbeat. “And they go up a lot faster than they come down,” said Alan Perry of Coastal States Bank’s Mortgage Division. (Sat, 27 Jun 2009 14:02:55 GMT)

Without a job, buying a home is problematic
Q. My husband and I live on the East Coast and are trying to relocate to the Midwest. I have contacted a buyer broker in our new state and have been prequalified by a national lender (in the local East Coast office near where I live) for a home purchase in our new state. I also have a hefty cash down payment ready to use for a house purchase. (Sat, 27 Jun 2009 14:47:54 GMT)

The Important Details Of Buying A Home In Miami Real Estate
Miami real estate offers homebuyers and investors the opportunity to acquire a quality home that fits well with your specifications and budget. There are thousands of homes for you to choose from -- single family homes to condos, and townhouses to vacation properties. (Sat, 27 Jun 2009 18:02:52 GMT)

Web tips useful in buying a home
According to statistics published in 2008 by the National Association of Realtors, 87 percent of all home buyers used the Internet as an information source in their search for a home. Frankly, I am surprised it's not even higher than that. (Sat, 27 Jun 2009 18:51:00 GMT)

Potential home buyers struggle to obtain loans
Even though local real estate agents and mortgage advisors believe now is a great time to purchase a new home, potential home buyers are still finding it extremely difficult to get home loans. (Sat, 27 Jun 2009 23:52:42 GMT)

MONEY: Is now a good time to refinance?
Q: Is now a good time to refinance your mortgage? (Sun, 28 Jun 2009 03:03:15 GMT)

Energy Efficiency Loan & Rebate Program created Keystone State wants to help make the home energy efficient
Energy Efficiency Loan & Rebate Program created Keystone State wants to help make the home energy efficient (Sun, 28 Jun 2009 03:10:15 GMT)

Don't try to outguess swings in mortgage rates
After a recent spike in mortgage rates, some consumers are wondering whether they've missed their chance to refinance into an ultra-low rate. (Sun, 28 Jun 2009 05:10:38 GMT)

Lessons Learned: NIFA's mortgage bridge loan for first-time buyers
Back in April, a tax preparer told me that several of his clients were eager to help children or grandchildren take advantage of the new federal tax credit available to first-time home buyers. (Sun, 28 Jun 2009 05:45:24 GMT)

Home buyers find deals in tough times
Sean Hamilton has rented a home in Tooele for years. Recently, however, Hamilton and his wife, Dina, decided it was time to purchase a home for their family of five. (Sun, 28 Jun 2009 05:53:04 GMT)

Tougher prison terms for mortgage schemes
Average sentences for mortgage fraud convictions have increased from 24 months since 2004 to between 50 and 55 months currently. MIAMI — To neighboring residents, the string of rapid-fire sales at a Coral Gables home was emblematic of the cause and consequences of South Florida's housing bust. (Sun, 28 Jun 2009 06:00:12 GMT)

Mortgage fraud can be a federal crime
Question: To whom should I report fraudulent information added to my mortgage application? Answer: Because most traditional mortgages are insured through the Department of Housing and Urban Development, invested in by Fannie Mae or Freddie Mac, or involve federally regulated financial institutions, any false or altered information in mortgage applications, appraisals, inspections and closing ... (Sun, 28 Jun 2009 06:09:50 GMT)

Keep after your home equity line of credit lender when refinancing your mortgage
If your rate-lock period is within two to three weeks of expiring and your subordination request hasn't been approved, call the HELOC lender and ask that it be given top priority. Dear Liz: I'm in a potentially bad situation with my home equity line of credit. I'm trying to refinance my primary mortgage and would save nearly $150 a month. But the HELOC lender is dragging its feet on agreeing to ... (Sun, 28 Jun 2009 07:07:30 GMT)

30-year loan rates inch up amid mixed reports
Rates for 30-year home loans edged up last week, remaining above record lows reached over the spring. (Sun, 28 Jun 2009 07:19:02 GMT)

Why lenders demand title insurance
Q: We are in the final steps of completing a refinance of our barely year-old $410,000 mortgage. We were pleased with the interest-rate drop, and our local bank was generous in dropping many of the junk fees associated with a refinance. However, we are being... (Sun, 28 Jun 2009 07:23:58 GMT)

30-year mortgage rates inch upward
Rates for 30-year home loans edged up last week, remaining above record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.42 percent, up from 5.38 percent a week earlier, mortgage company Freddie Mac said Thursday. "Mixed... (Sun, 28 Jun 2009 07:24:58 GMT)

Good Time To Refinance Term Life Insurance
The window might be quickly closing on consumers' opportunity to refinance at great rates — not their home mortgages, but their term life insurance, experts say. (Sun, 28 Jun 2009 07:27:20 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, 28 Jun 2009 08:04:08 GMT)

30-year fixed mortgage rate up slightly; other rates dip
The benchmark 30-year, fixed-rate mortgage edged up four basis points to 5.8 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in last week's survey had an average total of 45 discount and origination points. (Sun, 28 Jun 2009 08:23:53 GMT)

Is a reverse mortgage a reversal of fortune?
Reverse mortgages are becoming a popular option for senior citizens who want to free up the equity in their homes, turning it into cash to supplement their fixed incomes. A different type of home loan, a reverse mortgage is generally only available to ho (Sun, 28 Jun 2009 08:31:45 GMT)

Local mortgage activity drops as interest rates rise
County mortgage brokers said business has leveled off significantly as interest rates rise above 5 percent amid fears of inflation. According to Freddie Mac, a 30-year, fixed-rate mortgage averaged 5.38 percent last week. (Sun, 28 Jun 2009 11:41:28 GMT)

Tougher prison terms for mortgage schemes
Average sentences for mortgage fraud convictions have increased from 24 months since 2004 to between 50 and 55 months currently. MIAMI — To neighboring residents, the string of rapid-fire sales at a Coral Gables home was emblematic of the cause and consequences of South Florida's housing bust. (Sun, 28 Jun 2009 13:25:13 GMT)

MORTGAGE OPERATIONS MERGE A STRATEGY FOR GROWTH
SCOTTSDALE – As the mortgage industry continues to face challenges, Scottsdale-based State Mortgage has recently aligned its operations with Denver-based W.J. Bradley Mortgage Capital Corporation, in order to strengthen its position in the market and poise the company for growth once again. (Sun, 28 Jun 2009 15:17:17 GMT)

Geelong cases of mortgage stress shoot up by 40 per cent
GEELONG'S peak financial crisis counsellors say they have seen the number of mortgage-stress cases shoot up by as much as 40 per cent this year. (Sun, 28 Jun 2009 17:37:41 GMT)

New program helps manage student loan debt
Repaying a student loan could soon be a little less painful. (Sun, 28 Jun 2009 18:29:31 GMT)

New federal student loan program to cap monthly payments based on income
NEW YORK -- Repaying a student loan could soon be a little less painful. Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. (Sun, 28 Jun 2009 23:23:07 GMT)

MORTGAGE OPERATIONS MERGE A STRATEGY FOR GROWTH
SCOTTSDALE – As the mortgage industry continues to face challenges, Scottsdale-based State Mortgage has recently aligned its operations with Denver-based W.J. Bradley Mortgage Capital Corporation, in order to strengthen its position in the market and poise the company for growth once again. (Sun, 28 Jun 2009 23:32:17 GMT)

'It was sure nice to be home!'
CASTINE, Maine ? The State of Maine training ship returned to its home port Saturday, marking the completion of Maine Maritime Academy cadets? mandatory 60-day training cruise. Crowds were on … (Mon, 29 Jun 2009 00:09:07 GMT)

Hong Kong Banks ‘Killing Themselves’ in Mortgage War (Update1)
June 29 (Bloomberg) -- Hong Kong high school teacher Chris Poon’s dream of buying his first apartment was dashed in December when banks refused to fund more than 50 percent of the HK$3.5 million ($450,000) purchase. (Mon, 29 Jun 2009 02:59:42 GMT)

Local mortgage activity drops as interest rates rise
County mortgage brokers said business has leveled off significantly as interest rates rise above 5 percent amid fears of inflation. Paul W. Gillespie — The Capital George Matthews, owner of A-1 Mortgage in Annapolis, stands among files of clients. (Mon, 29 Jun 2009 03:09:08 GMT)

How to buy a home: Finding the right deal
If you feel you’re ready to make the plunge into real estate, the first thing you need to do is get preapproved. Loans that pay you When you are signing up for a loan, why not get one that pays you? If you get a mortgage through a credit union, you may be eligible for a rebate through the CU Realty program, which pays you part of a Realtors’ commission just for using one in the lender’s network. ... (Mon, 29 Jun 2009 03:42:34 GMT)

Mass appraisals like Bibb’s are an inexact science
A couple months ago, Sherree Quackenbush had her south Bibb County home appraised as part of a mortgage refinancing. (Mon, 29 Jun 2009 04:01:21 GMT)

Modest earners get student loan relief
Repaying a student loan could soon be a little less painful. (Mon, 29 Jun 2009 04:43:42 GMT)

Lessons Learned: NIFA's mortgage bridge loan for first-time buyers
Back in April, a tax preparer told me that several of his clients were eager to help children or grandchildren take advantage of the new federal tax credit available to first-time home buyers. (Mon, 29 Jun 2009 05:29:55 GMT)

Vail Valley: Here are some hints for a successful mortgage application
As many locals have recently discovered, getting approved for a loan these days is far more stringent than it once was. Gone are the days of stated income qualifications, when a good credit score and adequate equity would assure a prompt approval. (Mon, 29 Jun 2009 05:31:31 GMT)

Web tips useful in buying a home
According to statistics published in 2008 by the National Association of Realtors, 87 percent of all home buyers used the Internet as an information source in their search for a home. Frankly, I am surprised it's not even higher than that. (Mon, 29 Jun 2009 06:56:25 GMT)

Shopping for a mortgage? The best way to find a loan
When the easy money was flowing, you could get a great deal on a mortgage from just about anyone. But in today's credit-challenged world, all the avenues for finding a mortgage come with their own set of problems. (Mon, 29 Jun 2009 07:49:00 GMT)

Best way to find a home loan
When the easy money was flowing, you could get a great deal on a mortgage from just about anyone. But in today's credit-challenged world, all the avenues for finding a mortgage come with their own set of problems. (Mon, 29 Jun 2009 08:00:00 GMT)

Mortgage lending has weak rise in May
Mortgage lending rose by its weakest amount on record in May and mortgage approvals were broadly steady but weaker than expected, the Bank of England said on Monday. (Mon, 29 Jun 2009 08:42:00 GMT)

BSA gross mortgage lending falls 55 pct yy in May
Gross mortgage lending by British building societies stood at 1.540 billion pounds in May down 55 percent on the year, the Building Societies Association said on Monday. (Mon, 29 Jun 2009 08:47:00 GMT)

Property expert: What type of mortgage should we get?
Q We currently have no mortgage but have decided to move out of our existing home and buy two properties (one in Cornwall and one in Winchester). We therefore need a small mortgage of around £40,000, which we hope to pay off in two or three years (although it may take a little longer). We have looked at several deals, but we are concerned by the high front end costs. Should we go with an ... (Mon, 29 Jun 2009 08:52:37 GMT)

NatWest has change of heart over tragedy mortgage payout
Bank makes amends for mistake over insurance policy My fianc é and I took out an interest-only mortgage for £115,000 with NatWest in August 2007, with insurance for what I thought was life, accident, sickness and unemployment cover. Last March, my fianc é was killed in a road accident caused by a drunk driver. I phoned NatWest to claim but the adviser had trouble locating the insurance and ... (Mon, 29 Jun 2009 08:54:07 GMT)

Mortgage lending posts weakest rise 
Mortgage lending rose by its lowest amount on record in May and home loan approvals were weaker than expected, official data showed on Monday, in a sign that a housing market recovery is some way off yet. (Mon, 29 Jun 2009 09:04:00 GMT)

U.K. Mortgage Approvals Rise Less Than Forecast on Loan Squeeze
June 29 (Bloomberg) -- U.K. home-loan approvals climbed less than economists forecast last month as the credit squeeze led to the smallest increase in net mortgage lending since records began in 1993. (Mon, 29 Jun 2009 09:23:03 GMT)

U.K. Mortgage Approvals Rise Less Than Forecast (Update1)
June 29 (Bloomberg) -- U.K. home-loan approvals climbed less than economists forecast last month as the credit squeeze led to the smallest increase in net mortgage lending since records began in 1993. (Mon, 29 Jun 2009 09:37:01 GMT)

Dubai Properties LLC partners with Standard Chartered Bank to offer 'Easy Loan'
Dubai Properties LLC announced an alliance with Standard Chartered Bank to offer 'Easy Loan' mortgages - a funding option to prospective buyers and existing owners of residential units at the Executive Towers. (Mon, 29 Jun 2009 10:04:47 GMT)

U.K. Mortgage Approvals Rise the Least on Record in May
U.K. BoE May net mortgage lending was the weakest on record at GBP0.32, versus 0.91 bln in April and compared to a Reuters median forecast of 1.1 bln. Meanwhile, new mortgage approvals reached 43.4k in May (median 45k), compared to 43.2k in April. (Mon, 29 Jun 2009 10:08:41 GMT)

Dubai Properties LLC Partners with Standard Chartered Bank to offer 'Easy Loan'
As part of the 'Easy Loan', Standard Chartered Bank Standard Chartered Bank will directly evaluate the customer's property through independent surveyors and offer the finance with minimal documentation requirement from the client. (Mon, 29 Jun 2009 10:10:04 GMT)

Mortgage approvals hit 13-month best
Mortgage approvals for house purchase rose to a 13-month high in May, according to new figures released today. (Mon, 29 Jun 2009 10:51:00 GMT)

Student loan relief for modest earners
Date: 6/28/2009 5:55 PMBC-US--Student Loan Relief,1st Ld-Writethru/652Eds: ADDS background on program. Moving on general news and financial services.CANDICE CHOI,AP Personal Finance Writer (Mon, 29 Jun 2009 11:15:01 GMT)

Rendell signs 2 bills on mortgage fraud
Gov. Rendell today signed two bills designed to protect consumers from mortgage fraud. (Mon, 29 Jun 2009 11:30:00 GMT)

Mortgage approvals hit 13-month high
There were mixed signals from the mortgage market today as the Bank of England said the number of mortgages approved in May had reached a 13-month high, but net lending figures were at their lowest level in at least 16 years. (Mon, 29 Jun 2009 11:42:04 GMT)

2 mortgages haunt home dream
Dear Dr. Don, We currently own a home worth about $425,000 with an outstanding mortgage of about $290,000. We would like to start building a home on a parcel of land we own free and clear (valued at $85,000). We would like to build a $275,000 home on this property. (Mon, 29 Jun 2009 11:42:36 GMT)

Brubaker mortgage-fraud bill signed into law
The jailed former mortgage broker Wesley A. Snyder was able to keep his $29 million scam hush-hush, for a time, by withholding crucial information — namely account statements — from his clients.Such a practice will soon be illegal.Gov. Ed Rendell today signed into law a measure that bans... (Mon, 29 Jun 2009 14:33:24 GMT)

Another fall in mortgage lending
Mortgage lending by building societies contracted for the fifth month in a row during May as the sector continues to struggle to raise funding, figures show. (Mon, 29 Jun 2009 15:12:05 GMT)

Town & Country Bank agrees to strengthen loan portfolio, lending practices
Town & Country Bank has entered into an agreement with bank regulators to strengthen its loan portfolio and its lending practices. (Mon, 29 Jun 2009 15:31:53 GMT)

Mortgage approvals hit 13-month high
Mortgage approvals rise for fourth month in a row, but net lending dives to lowest recorded level There were mixed signals from the mortgage market today as the Bank of England said the number of mortgages approved in May had reached a 13-month high, but net lending figures were at their lowest level in at least 16 years. The Bank said the number of mortgages approved for house purchases rose ... (Mon, 29 Jun 2009 15:59:17 GMT)

Governor Rendell Signs Bills to Protect Homeowners From Mortgage Fraud
Governor Edward G. Rendell today signed a pair of bills to combat mortgage fraud by strengthening communication between homeowners and their lenders and encouraging employees at mortgage companies to report illegal activity. (Mon, 29 Jun 2009 16:30:00 GMT)

OCBC unveils new home loan package (Business Times
OCBC Bank (Malaysia) Bhd yesterday launched a new home loan package based on Mortgage Lending Rate (MLR). Called Ideal Mortgage, the package is priced more competitively than BLR-based ones and is flexible enough for borrowers to make a significantly lower investment outlay on their loans during the lock in period, the bank said in a statement. The MLR, currently set at 4.70 per cent, is OCBC ... (Mon, 29 Jun 2009 17:02:21 GMT)

New Plan Ties Reduced College Loan Payments to Income
Starting Wednesday, the federal Education Department will begin offering a repayment plan that lets college graduates reduce their loan payments, based on their income. (Mon, 29 Jun 2009 17:41:54 GMT)

OCBC unveils new home loan package (Business Times
OCBC Bank (Malaysia) Bhd yesterday launched a new home loan package based on Mortgage Lending Rate (MLR). (Mon, 29 Jun 2009 18:12:46 GMT)

US Banking Regulators Report Loan-Deposit Ratios
WASHINGTON -(Dow Jones)- North Dakota had the highest loan-to-deposit ratio of all states in the U.S., regulators said Monday. North Dakota's ratio was 172%. Second was Nevada, with 128%. (Mon, 29 Jun 2009 18:26:50 GMT)

Berks Ponzi scheme leads to new Pennsylvania mortgage laws
Gov. Ed Rendell today signed into law two mortgage fraud prevention bills spawned by the Wesley Snyder Ponzi scheme. (Mon, 29 Jun 2009 19:07:00 GMT)

Will rising mortgage rates swamp housing market?
After hovering around 5 percent for most of the last few months, the average rate on a 30-year fixed-rate mortgage has spiked to about 5.7 percent since the end of May. That’s nationwide. (Mon, 29 Jun 2009 19:10:19 GMT)

Loan argument fueled killings
Update: Police said today an argument over a loan is believed to be the cause of an apparent double-murder suicide in Forest Park this weekend. (Mon, 29 Jun 2009 19:21:39 GMT)

Cleveland Better Business Bureau Says to Beware Loan Mod Firms Offering Help
Northeast Ohio's Better Business Bureau is warning homeowners in trouble about "loan modification" companies that promise more than they can deliver. As part of our ongoing coverage...Facing the Mortgage Crisis, Mhari Saito reports. (Mon, 29 Jun 2009 19:49:07 GMT)

Bill To Prevent Mortgage Fraud
Governor Ed Rendell took steps today to fight mortgage fraud in the Keystone State. (Mon, 29 Jun 2009 21:06:44 GMT)

Pa. toughens laws to prevent mortgage fraud
HARRISBURG, Pa. (AP) - Pennsylvania has two new laws to combat mortgage fraud. Gov. Ed Rendell signed the two bills into law Monday as he was watched by victims of former mortgage broker Wesley Snyder, who was sentenced to 12 years in prison. (Mon, 29 Jun 2009 21:39:48 GMT)

Home loan prop for the poor
New Delhi, June 29: The government is planning a Rs 15,000-crore housing mortgage guarantee fund to cover home loans given to the urban poor. (Mon, 29 Jun 2009 22:42:16 GMT)

SBI cuts dealer financing rate by 0.5%, waives mortgage charges
SBI cuts dealer financing rate by 0.5%, waives mortgage chargesSBI cuts dealer financing rate by 0.5%, waives mortgage charges (Mon, 29 Jun 2009 22:44:52 GMT)

No uptake of €280k State home loan scheme
A GOVERNMENT plan to provide mortgages to people who have been rejected by the banks has cost €280,000 to administer – but as yet no loans have been drawn down under the scheme. (Tue, 30 Jun 2009 00:29:58 GMT)

Gov. Rendell Signs Mortgage Fraud Bills Into Law
Gov. Ed Rendell has signed two bills into law to crack down on mortgage fraud in Pennsylvania. (Tue, 30 Jun 2009 01:36:24 GMT)

Mortgage fraud bill signed
Wesley A. Snyder was able to keep his $29 million mortgage brokering scam hush-hush, for a time, by withholding crucial information — namely account statements — from his clients.Such a practice soon will be illegal.Gov. Ed Rendell on Monday signed into law a measure that bans mortgage b... (Tue, 30 Jun 2009 04:18:30 GMT)

BUSINESS OF THE WEEK: Wells Fargo Home Mortgage
Wells Fargo Home Mortgage is the Huntington Regional Chamber of Commerce Business of the Week for June 29, 2009. (Tue, 30 Jun 2009 04:28:34 GMT)

SBA 504 Loans Now Allow Refinancing of Small Business Debt
SBA Administrator, Karen Mills, announced that the new refinance regulations for the SBA 504 loan guarantee program have been implemented. The refinance provision for SBA 504 loans was part in the 2009 American Recovery & Reinvestment Act (ARRA) passed earlier this year. The new refinancing provisions will open up credit and potentially free up working capital for America's small businesses by ... (Tue, 30 Jun 2009 07:00:00 GMT)

Shoprate.com's New Mortgage Interest Rate Table Helps Consumers Find Up-to-Date Rates
To help consumers find the lowest mortgage rates in their area, Shoprate.com has developed a new mortgage interest rate table. This feature allows consumers to select the state, loan type and loan amount in which they are interested, and then view a full list of nearby loan providers. Consumers can even narrow down their results by city, type (fixed, adjustable, FHA or VA) and term. (Tue, 30 Jun 2009 07:01:00 GMT)

Judge's ruling in mortgage-lending case is days away
City's lawsuit advancing against Wells Fargo at stake Having heard what he called a "test run" of Baltimore's discriminatory lending claim against Wells Fargo on Monday, a federal judge said he will rule within days on whether the civil case can proceed to discovery - a process that could reveal the inner workings of one of the region's largest mortgage lenders. (Tue, 30 Jun 2009 07:51:10 GMT)

Two new mortgage fraud laws on books
HARRISBURG - Two state laws designed to prevent a repeat of a mortgage scandal were signed Monday by Gov. Ed Rendell. The laws will ensure that homeowners get more information about their mortgage terms and protect mortgage company employees who repor (Tue, 30 Jun 2009 08:19:41 GMT)

11 years without paying mortgage That’s how long Red Gold went on Center City Apartments, PHFA says
SHAMOKIN — The city housing authority’s acquisition of the mortgage for Center City Apartments appears to be an unprecedented action, at least for the Pennsylvania Housing Finance Agency (PHFA). (Tue, 30 Jun 2009 09:31:52 GMT)

LIC Hsg Fin cuts existing home loan rates by 50 bps
MUMBAI, June 30 (Reuters) - Mortgage lender LIC Housing Finance Ltd said on Tuesday it has cut interest rates for existing home loan borrowers by 50 basis points. (Tue, 30 Jun 2009 09:57:52 GMT)

LIC Hsg Fin cuts existing home loan rates by 50 bps
MUMBAI, June 30 (Reuters) - Mortgage lender LIC Housing Finance Ltd said on Tuesday it has cut interest rates for existing home loan borrowers by 50 basis points. (Tue, 30 Jun 2009 09:57:52 GMT)

N.J. Attorney General Anne Milgram plans to unveil mortgage-fraud indictments
APNew Jersey Attorney General Anne Milgram TRENTON -- New Jersey Attorney General Anne Milgram today plans to announce multiple indictments for mortgage fraud. Milgram and Criminal Justice Director Deborah L. Gramiccioni are scheduled to make the announcement at noon in... (Tue, 30 Jun 2009 10:09:24 GMT)

Mortgage advances to slow further
Despite interest rates having been cut by a total of 450 basis points since December last year, mortgage advances growth is expected to slow down further in the near term. (Tue, 30 Jun 2009 10:15:17 GMT)

Mortgage debt falls for second consecutive month
The Central Bank says the slump in the mortgage market has reached a historic low in the past month. Related Stories Sisters of Charity apologise for institutional abuse Economic activity down 8.5% in first quarter Begg slams suggested cuts in social welfare Court rejects challenge to NI Victims Commissioners Number of births hit 23-year high in 2006 (Tue, 30 Jun 2009 10:21:21 GMT)

Govt Mortgage Rescue Scheme has helped just six households
The number of struggling homeowners helped by the Government’s Mortgage Rescue Scheme was only six from January to May this year, figures revealed today. ... (Tue, 30 Jun 2009 10:37:11 GMT)

Research and Markets: An Essential Report on Mortgage Banking
DUBLIN----Research and Markets has announced the addition of the "Mortgage Banking" report to their offering. (Tue, 30 Jun 2009 11:02:00 GMT)

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