Mortgage News Jul 2009

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Mortgage lending hits a historic low
MORTGAGE lending has hit a historic low while credit card lending has slumped to 2006 levels, according to the Central Bank. (Wed, 01 Jul 2009 01:04:48 GMT)

Leading Canterbury mortgage broker moves to Viva
Leading Christchurch Mortgage broker Niki Olds has moved to new mortgage broking company Viva Home Loans. (Wed, 01 Jul 2009 01:59:33 GMT)

Cape man gets 22 years for mortgage fraud scam
A Cape Coral man was sentenced in federal court Monday to serve 22 years in prison and pay millions of dollars in restitution for a 2005-06 mortgage fraud scheme. Ronald Luczak, 37, was sentenced by U.S. District Judge John Steele, and must pay about $5.9 million in restitution to victims of the scheme, according to the U.S. Attorney's Office. (Wed, 01 Jul 2009 04:12:04 GMT)

SBI cuts home loan rates for first 3 years
With real estate prices dropping, action is hotting up in the home loan market. State Bank of India, the country's largest lender, said on Tuseday that it had improved upon its home loan scheme and would offer home loans starting at 8 per cent in the first year before rising 100-150 basis points in the second and third years. (Wed, 01 Jul 2009 04:45:27 GMT)

Just six families helped by government Mortgage Rescue Scheme
Britain is facing a reposession timebomb Vince Cable warned yesterday as it emerged just six families have been helped by the Government's Mortgage Rescue Scheme. (Wed, 01 Jul 2009 06:21:33 GMT)

Home loan tips
Home loan expert Harsh Roongta advises readers on what they should do if they are prepaying their home loans. (Wed, 01 Jul 2009 06:29:37 GMT)

Indictments announced in mortgage fraud cases
Although the nation's beleaguered housing market is showing signs of stabilizing, Attorney General Anne Milgram warned potential homeowners on Tuesday that mortgage fraud in still rampant in New Jersey. (Wed, 01 Jul 2009 07:18:07 GMT)

US MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Wed, 01 Jul 2009 11:05:09 GMT)

Week-to-week mortgage applications off 18.9%: MBA
Lower interest rates fail to rouse homeowners to consider refinancing their mortgages, fresh data compiled by the Mortgage Bankers Association show. The volume of mortgage applications filed in the week ended June 26 drops a seasonally adjusted 18.9% from the week before. (Wed, 01 Jul 2009 11:22:43 GMT)

Mortgage applications at 7-month low
Industry group says requests for home loans fell 18.9% last week as borrowing costs increase. (Wed, 01 Jul 2009 11:39:33 GMT)

Use mortgage broker for land refinance
Dear Dr. Don, We purchased a 1920s home (900 square feet) in Missouri with 145 acres back in 2003 for $180,000. We are in the process of putting up a pole barn with living quarters (3,000 square feet, with heat and a concrete floor) on the property. (Wed, 01 Jul 2009 11:42:36 GMT)

U.S. MBA Mortgage Applications Index Fell 19 Percent Last Week
July 1 (Bloomberg) -- Mortgage applications in the U.S. fell last week by the most since February as refinancing slumped to the lowest level in seven months. (Wed, 01 Jul 2009 11:48:21 GMT)

Mortgage Applications Fall to 7-Month Low
Mortgage Applications Fall to 7-Month Low (Wed, 01 Jul 2009 12:13:30 GMT)

US real estate markets in deep trouble - Mortgage applications in the U.S. falling very fast
The Mortgage applications in the U.S.is falling very fast signaling deep trouble in US real estate markets. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped close to 20 percent to 445 in the last week of june from 548 the prior week. (Wed, 01 Jul 2009 13:00:10 GMT)

U.S. mortgage applications fall to 7-month low
U.S. mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30 percent, data from an industry group showed on Wednesday. (Wed, 01 Jul 2009 13:54:22 GMT)

First Federal Bank of California Nears $1 Billion in Home-Loan Modifications; Its Workout Success Rate Outpaces Banks ...
LOS ANGELES----May figures show that First Federal Bank of California, a wholly owned subsidiary of FirstFed Financial Corp. , has now modified nearly $1 billion worth of home mortgages, enabling more than 2,000 California families to avert foreclosure. (Wed, 01 Jul 2009 14:00:00 GMT)

Mortgage Applications Fall Last week, Refinance Tumble
The Mortgage Bankers Association reported Wednesday that its index for total U.S. mortgage applications fell 18.9% for the week ended June 26. Refinance applications fell 30% during the period. (Wed, 01 Jul 2009 14:54:14 GMT)

Banks Sustain Higher Prices for Mortgage Debt That Hobbled Them
July 1 (Bloomberg) -- Banks are buying the mortgage-backed bonds that hobbled the global financial system, helping to sustain higher prices for the debt, according to Federal Reserve data, investors and traders. (Wed, 01 Jul 2009 14:56:22 GMT)

U.S. Mortgage Applications Fall 19%, Defying Government Efforts
July 1 (Bloomberg) -- Mortgage applications in the U.S. fell last week by the most since February, defying efforts by President Barack Obama ’s administration to revive the housing market. (Wed, 01 Jul 2009 15:48:41 GMT)

Mortgage applications fall to 7-month low
Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%, data from an industry group showed on Wednesday. (Wed, 01 Jul 2009 16:35:38 GMT)

U.S. Mortgage Applications Fall 19%, Defying Obama (Update1)
July 1 (Bloomberg) -- U.S. mortgage applications fell last week by the most since February, defying efforts by President Barack Obama ’s administration to revive the housing market. (Wed, 01 Jul 2009 16:36:47 GMT)

Fannie, Freddie to expand refinance program: source
Fannie Mae and Freddie Mac will expand their foreclosure-prevention efforts and refinance homeowners whose loan-to-value ratio is 125 percent, an administration source said on Wednesday. (Wed, 01 Jul 2009 16:38:24 GMT)

Mortgage Applications at 7-Month Low
Refinancing activity is very sensitive to mortgage rates and has thus come down sharply in recent weeks. (Wed, 01 Jul 2009 16:47:33 GMT)

Obama widens mortgage refi program
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part. (Wed, 01 Jul 2009 16:54:44 GMT)

Mortgage Applications Dip to 7-Month Lows--Even as Rates Fall
The Mortgage Bankers Association has released its most-recent mortgage applications survey. (Wed, 01 Jul 2009 17:15:20 GMT)

(AFX UK Focus) 2009-07-01 17:50 Fannie, Freddie to expand refinance program-source
WASHINGTON, July 1 (Reuters) - Fannie Mae and Freddie Mac will expand their foreclosure-prevention efforts and refinance homeowners whose loan-to-value ratio is 125 percent, an administration souce said on Wednesday. Under current rules, the mortgage finance companies may refinance only borrowers whose mortgage loan-to-value ratio is 105 percent. The new policy is intended to aid more struggling ... (Wed, 01 Jul 2009 17:17:54 GMT)

(AFX UK Focus) 2009-07-01 18:14 UPDATE 1-US mortgage agencies expand refinance plan-official
WASHINGTON, July 1 (Reuters) - Mortgage finance companies Fannie Mae and Freddie Mac will expand their efforts to prevent foreclosures, and refinance borrowers whose loan-to-value ratio is as high as 125 percent, an administration official said on Wednesday. Under current rules, the mortgage finance companies may only refinance borrowers whose mortgage loan-to-value ratio is no greater than 105 ... (Wed, 01 Jul 2009 17:33:42 GMT)

Program Change Makes More Nevadans Eligible for Refinancing
Nevadans who are up to 125 percent underwater on their mortgage but current on their house payments may now qualify for President Obama's home refinancing program. (Wed, 01 Jul 2009 18:52:07 GMT)

Fannie, Freddie To Let More Borrowers Refinance
Fannie, Freddie To Let More Borrowers Refinance (Wed, 01 Jul 2009 18:59:01 GMT)

Obama extends mortgage refinancing program
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part. (Wed, 01 Jul 2009 19:06:00 GMT)

Beazer settles $50M mortgage fraud case
Resolves allegations of improper mortgage activities. Separately, SEC alleges former exec Michael Rand manipulated the homebuilder's results. (Wed, 01 Jul 2009 19:09:13 GMT)

U.S. raises home refi plan's loan-to-value ceiling to 125%
The Obama administration today eased eligibility rules for its Home Affordable Refinance Program , lifting the maximum loan-to-value ratio to 125% from 105%. (Wed, 01 Jul 2009 20:41:58 GMT)

Home Loan Bank awards grants
The Federal Home Loan Bank has awarded $5.4 million in affordable housing grants in five states. (Wed, 01 Jul 2009 21:16:04 GMT)

Fannie, Freddie ease terms for mortgage refinance
The Obama administration on Wednesday expanded its foreclosure prevention efforts to help a greater number of underwater homeowners refinance their mortgages. (Wed, 01 Jul 2009 21:57:34 GMT)

Fannie, Freddie ease terms for mortgage refinance
By Patrick Rucker (Wed, 01 Jul 2009 21:57:34 GMT)

New Home Loan Aid May Help Banks
The Obama administration's expansion of an aid program to underwater home borrowers could be a short-term boon to banks. (Wed, 01 Jul 2009 22:02:35 GMT)

(AFX UK Focus) 2009-07-01 23:12 UPDATE 3-Fannie, Freddie ease terms for mortgage refinance
By Patrick Rucker (Wed, 01 Jul 2009 22:33:33 GMT)

Beazer to pay up in mortgage fraud case
Beazer Homes USA said Wednesday it has agreed to pay up to $55 million in restitution and expenses related to a mortgage fraud scheme in North Carolina. Federal authorities agreed not to prosecute the company as long as terms are met. (Wed, 01 Jul 2009 22:46:16 GMT)

Fannie And Freddie To Expand Mortgage Rescue
Government allows more troubled borrowers to qualify for a refinancing program run by the mortgage financiers. (Wed, 01 Jul 2009 23:09:02 GMT)

White House to Expand Mortgage Refinancing Program
The Obama administration announced yesterday that it would loosen the eligibility requirements for a program aimed at helping borrowers with no equity in their homes to refinance into cheaper mortgages. (Thu, 02 Jul 2009 01:15:13 GMT)

13 charged in mortgage-fraud ring
Thirteen people were indicted today in connection with a $9 million mortgage-fraud scheme involving central Ohio properties. It took more than a year for local, state and federal investigators in a task force to unravel the complex scheme, authorities say. More than 30 properties were involved. (Thu, 02 Jul 2009 03:54:28 GMT)

Fewer miss mortgage repayments in sign of economy's strength
The rate of missed repayments by mortgage holders actually fell in the latest survey - another sign that the economy is stabilising. (Thu, 02 Jul 2009 05:45:52 GMT)

Leader of mortgage-fraud operation convicted.
Uto Essien, the ringleader of a multimillion-dollar mortgage-fraud operation, was convicted by an Adams County jury Wednesday. (Thu, 02 Jul 2009 07:16:53 GMT)

New mortgage rules could help more borrowers
The Obama administration on Wednesday broadened its refinance program for underwater borrowers, those who owe more than their homes are worth. Now, borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac and are current on their payments... Sponsored Topics: Fannie Mae - Freddie Mac - Refinancing - Business - Mortgage loan (Thu, 02 Jul 2009 07:39:30 GMT)

13 charged in mortgage-fraud ring
Thirteen people were indicted yesterday in connection with a $9 million mortgage-fraud scheme involving central Ohio properties. (Thu, 02 Jul 2009 07:54:02 GMT)

Mortgage applications fall 19 percent
US mortgage applications fell last week by the most since February, defying efforts by President Barack Obama's administration to revive the housing market. (Thu, 02 Jul 2009 07:58:04 GMT)

Bankrate: Fixed Mortgage Rates Drop In Latest Week
Bankrate: Fixed Mortgage Rates Drop In Latest Week (Thu, 02 Jul 2009 12:28:30 GMT)

Eligibility for home refinance program is expanded
The Obama administration eases rules, lifting the maximum loan-to-value ratio to 125%, in an attempt to make refinancing available to more people whose homes are worth less than their mortgages. The Obama administration eased eligibility rules Wednesday for its Home Affordable Refinance program, lifting the maximum loan-to-value ratio to 125% from 105%. (Thu, 02 Jul 2009 12:29:01 GMT)

CalSTRS Searching for Home Loan Program Servicing Firm
SACRAMENTO, Calif.----The California State Teachers' Retirement System is searching for a firm to be the master servicing agent for its home loan program. The selected firm will assist CalSTRS employees in daily operations, record keeping and in the development of execution strategies. (Thu, 02 Jul 2009 13:20:00 GMT)

Freddie Mac: 30-year Fixed-rate Mortgage At 5.32%
Freddie Mac: 30-year Fixed-rate Mortgage At 5.32% (Thu, 02 Jul 2009 14:29:10 GMT)

U.S. Mortgage Rates Drop to 5.32%, Freddie Mac Says (Update1)
July 2 (Bloomberg) -- Mortgage rates in the U.S. fell this week, easing concern the Federal Reserve plan to lower rates by purchasing mortgage-backed securities was losing momentum. (Thu, 02 Jul 2009 14:59:35 GMT)

Mortgages: Mortgage rates continue fall from mid-June peak
Rates on the 30-year fixed-rate mortgage fell this week, averaging 5.32%, a quarter of a percentage point lower than they averaged at their mid-June peak, Freddie Mac reported on Thursday. (Thu, 02 Jul 2009 15:08:13 GMT)

Mortgage rates slide
Home mortgage rates retreated last week, with the 30-year fixed slipping to 5.7% from 5.8% the week prior, according to a report from a financial data aggregator released Thursday. (Thu, 02 Jul 2009 15:09:31 GMT)

U.S. Mortgage Rates Drop to 5.32%, Freddie Mac Says (Update2)
July 2 (Bloomberg) -- Mortgage rates in the U.S. fell this week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum. (Thu, 02 Jul 2009 15:59:39 GMT)

Freddie Mac: Mortgage rates take short dip
Rising mortgage rates reversed course this week, with long-term rates falling slightly. Freddie Mac's weekly report says 30-year fixed-rate mortgages averaged 5.32 percent this week, down from last week's average of 5.42 percent. A year ago, 30-year mortgages were averaging 6.35 percent, although rates fell below 5 percent earlier this year. (FRE) (Thu, 02 Jul 2009 18:31:53 GMT)

HUD secretary announces mortgage refinancing help
Housing and Urban Development Secretary Shaun Donovan, calling Nevada "ground zero" in the world of foreclosures, has announced an expansion plan to curb the housing market crisis. (Thu, 02 Jul 2009 18:56:16 GMT)

Beazer to pay $50M for mortgage fraud
CHARLOTTE, N.C., July 2 (UPI) -- U.S. home builder Beazer Homes USA agreed to pay $50 million to settle various mortgage fraud abuse charges, court records show. (Thu, 02 Jul 2009 19:47:50 GMT)

Mexico Housing Fund Infonavit Sells MXN2.6 Billion In Mortgage Bonds
MEXICO CITY -(Dow Jones)- Mexico's government-run housing fund Infonavit said Thursday that it sold 2.6 billion pesos ($195.7 million) in mortgage-backed securities in its second issuance this year. (Thu, 02 Jul 2009 20:11:20 GMT)

U.S. Mortgage Rates Slip to 5.32%
U.S. mortgage rates dropped in the latest week, a move that bodes well for the hard-hit U.S. housing market, which has been showing signs of a recovery. (Thu, 02 Jul 2009 20:28:30 GMT)

SBI offers two new home loan schemes
SBI has launched two new home loan schemes, SBI Easy Home Loan and SBI Advantage Home Loan, with processing fee for both waived till September 30. (Thu, 02 Jul 2009 21:04:05 GMT)

Illness figures into mortgage fraud plea deal
A Kansas City man who fled to Canada being indicted on mortgage fraud charges in 2007 pleaded guilty today. Jason Todd Morgan, 42, who has been in custody since his arrest earlier this year, pleaded guilty in U.S. District Court in Kansas City to three counts of wire fraud. (Thu, 02 Jul 2009 23:36:48 GMT)

Las Vegas: HUD secretary announces mortgage refinancing help
LAS VEGAS (AP) — Housing and Urban Development Secretary Shaun Donovan, calling Nevada “ground zero” in the world of foreclosures, has announced an expansion plan to curb the housing market crisis. (Fri, 03 Jul 2009 00:09:45 GMT)

S&P: Global Diversification Keeps Housing And Mortgage Industries In Parallel Declines, Says Report
The global housing industry and mortgage markets continue to decline in parallel as they have since mid-2007, according to a Standard & Poor's Ratings Services report published today. Overall, we expe (Fri, 03 Jul 2009 02:21:41 GMT)

Right time to go for a home loan?
In a chat with readers on July 1, home loan expert Harsh Roongta said readers must go for a home loan now if they are planning to buy their dream homes. (Fri, 03 Jul 2009 05:59:01 GMT)

Freddie Mac Increases Relief Refinance Mortgage Loan-to-value Ratio
Agnitio is a privately owned company with venture ... Cryptomathic is one of the world's leading provide ... (Fri, 03 Jul 2009 06:44:22 GMT)

Five good tips for mortgage shoppers
After a recent spike in mortgage rates, some consumers have been wondering whether they've missed their chance to refinance into an ultra-low rate. Fear not: While the conforming 30-year fixed-rate mortgage has been bumping around the mid-5 percent-range, it's possible that rates could continue to fall. (Fri, 03 Jul 2009 09:11:16 GMT)

Mortgage repayment quickens
Homeowners in the UK paid back a record amount of their outstanding mortgage debt during the first three months of 2009. (Fri, 03 Jul 2009 09:19:39 GMT)

Ohio mortgage rates creep up for week, Ky. drops
Mortgage rates in Ohio inched up over the week, while Kentucky’s fell slightly, according to Zillow.com. (Fri, 03 Jul 2009 09:25:37 GMT)

Refinancing aid expands to more people
WASHINGTON - The government will allow more distressed borrowers who owe more than their homes are worth to be eligible for refinancing assistance under an Obama administration housing rescue program. (Fri, 03 Jul 2009 09:37:30 GMT)

Repayment of UK mortgage debt accelerates in 1Q
U.K. homeowners paid down mortgage debt in the first quarter at the fastest rate in a year, shrinking the pool of money available for retail spending, the Bank of England said Friday. (Fri, 03 Jul 2009 10:37:49 GMT)

Prudent Brits Knock £8bn Off Mortgage Debt
British homeowners poured a record £8.14bn into paying down their mortgage debt during the first quarter of the year, latest figures show. (Fri, 03 Jul 2009 11:04:47 GMT)

Halabi Companies Fail to Fix $1.9 Billion Mortgage Bond Default
July 3 (Bloomberg) -- Investor Simon Halabi ’s real-estate companies failed to remedy a default on 1.15 billion pounds ($1.9 billion) of commercial mortgage bonds. (Fri, 03 Jul 2009 11:33:55 GMT)

Halabi Companies Fail to Fix Mortgage Bonds Default (Update1)
July 3 (Bloomberg) -- Investor Simon Halabi ’s real-estate companies failed to remedy a default on 1.15 billion pounds ($1.9 billion) of commercial mortgage bonds at a time when, according to Fitch Ratings, “pretty much” all such European deals would breach loan-to-value conditions if they were tested. (Fri, 03 Jul 2009 11:37:36 GMT)

UK homeowners pay back a record £8.1bn of mortgage debt
UK homeowners repaid a record amount of mortgage debt in the first quarter of the year in the latest sign that the credit crunch is forcing Britons off a decadelong spending splurge. (Fri, 03 Jul 2009 11:41:54 GMT)

Home Equity Loan Rate Search
Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted June 24, 2009. (Fri, 03 Jul 2009 11:43:16 GMT)

Mortgage debts down by £8bn as house prices fall
UK homeowners reduced their mortgage debt by a record £8.14bn during the first quarter of the year, figures showed today. Related Stories Vodafone ends three-year exile with Carphone Warehouse deal Biochips and wood chips are top award winners Green technology ‘could help create 250,000 jobs’ Belfast tourism boosted by euro bonanza Bankers warned over risk taking (Fri, 03 Jul 2009 12:11:53 GMT)

Managers head to court in mortgage fund battle
THE battle for the rights to oversee City Pacific's flagship First Mortgage Fund is likely to be decided in the courts, with the embattled Gold Coast finance group saying yesterday that a unit-holder vote to remove it as the manager had failed by a hair's breadth. (Fri, 03 Jul 2009 14:19:24 GMT)

British homeowners reduce their mortgage debt by record £8bn as interest rates fall
Britain's mortgage payback boom is continuing as homeowners repay a record amount of their property debt, new figures show. (Fri, 03 Jul 2009 14:52:23 GMT)

Mortgage rates fall slightly
Rising mortgage rates reversed course this week, with long-term rates falling slightly. Freddie Mac's weekly report says 30-year fixed-rate mortgages averaged 5.32 percent this week, down from last week's average of 5.42 percent. A year ago, 30-year mortgages were averaging 6.35 percent, although rates fell below 5 percent earlier this year. (Fri, 03 Jul 2009 16:03:04 GMT)

Local mortgage broker gets national post
CORPUS CHRISTI — Pair, the president of Mortgage Associates-Corpus Christi, recently was elected president of the National Association of Mortgage Brokers. He will be influential in legislation that might impact the Coastal Bend as well as the rest of the country. (Fri, 03 Jul 2009 16:35:24 GMT)

Co-op Bank pays mortgage borrowers
Some Co-operative Bank borrowers, who are already enjoying ultra-low mortgage rates, have seen the cost of their home loans drop below zero as a result of dividends paid by the mutual to its members. (Fri, 03 Jul 2009 18:14:55 GMT)

MPs' expenses: Alan Duncan claimed £63000 in mortgage 'flip'
Tory MP claimed for mortgage on designated second home even though he owned the property outright. (Fri, 03 Jul 2009 21:21:23 GMT)

British homeowners reduce their mortgage debt by record £23bn in a year as interest rates fall
Britain's mortgage payback boom is continuing as homeowners repay a record amount of their property debt, figures show. (Sat, 04 Jul 2009 00:51:53 GMT)

Shop Around for That Refinance, but Don't Delay
QI am shopping to refinance my condominium mortgage of about $400,000. The outstanding loan balance is $160,000, and my credit is stellar. In order to refinance with my current lender, they want $2,200 in closing costs. I just financed with this lender three years ago, and there seems to be no special benefit for refinancing with them again. I don't understand why they wouldn't want to keep a ... (Sat, 04 Jul 2009 03:54:37 GMT)

The Mortgage Professor
Some of the most difficult questions I receive from readers concern the relationship between making extra mortgage payments and refinancing. (Sat, 04 Jul 2009 04:00:00 GMT)

Eagan man sentenced for stealing from mortgage firm
An Eagan man faces more than eight years in prison for stealing from the Burnsville mortgage company where he worked. Michael R. Sauve, 43, was sentenced Thursday to 98 months, double the time called for by Minnesota sentencing guidelines. (Sat, 04 Jul 2009 04:48:30 GMT)

Protesters demand mortgage help from loan firms
PHILADELPHIA (AP) — Protests are planned in more than a dozen cities across the country to demand that a group of mortgage companies who benefited from federal bailout money participate in a government program designed to prevent foreclosures. (Sat, 04 Jul 2009 06:44:57 GMT)

Owe more than your home is worth? You can still refinance, but it's complicated
The federal government's Home Affordable Refinance program is designed to help homeowners refinance their mortgages, even if they owe slightly more than their home is worth. B ut it applies only to loans owned or guaranteed by Fannie Mae or Freddie Mac and the rules are complex. (Sat, 04 Jul 2009 09:09:25 GMT)

Loan companies, bankers in West Michigan make extra effort to stop foreclosures
Home Repair Services says more clients are successful in averting foreclosure. (Sat, 04 Jul 2009 10:15:29 GMT)

MP appointed to clean up Tory expenses claimed £63,000 in mortgage 'flip' on house he already owned
The senior MP appointed by David Cameron to clean up Conservative MPs’ expenses has claimed £63,000 in mortgage interest on a home he owned outright for more than a decade. (Sat, 04 Jul 2009 10:38:05 GMT)

Halabi Companies Fail to Fix Mortgage Bonds Default (Update1)
July 3 (Bloomberg) -- Investor Simon Halabi ’s real-estate companies failed to remedy a default on 1.15 billion pounds ($1.9 billion) of commercial mortgage bonds at a time when, according to Fitch Ratings, “pretty much” all such European deals would breach loan-to-value conditions if they were tested. (Sat, 04 Jul 2009 11:10:53 GMT)

What to know before refinancing
The Federal Reserve's decision to buy up mortgaged-backed securities caused mortgage rates to fall and created new opportunities. Should you refinance your mortgage now? Before you rush to refi, take a few minutes to determine if it's the right move for you. (Sat, 04 Jul 2009 11:42:16 GMT)

Philippoussis home fails to sell
Former tennis ace Mark Philippoussis suffers setback in his fight to pay off more than $1.3 million in debts with his Williamstown home failing to sell at auction. (Sat, 04 Jul 2009 14:30:08 GMT)

Mortgage lien kept in limbo for a spell
Dear Fixer: After paying off our mortgage with Fifth Third Bank, they issued a release of lien to the Lake County, Ind., recorder's office with the incorrect spelling of my husband's last name. I have checked with the recorder's office and the release of lien has been recorded with the name of John Core instead of Gore. The source document from Fifth Third is incorrect and cannot be ... (Sat, 04 Jul 2009 14:50:23 GMT)

Help for Those Struggling To Pay the Mortgage
If you can't afford your monthly mortgage payment and you can't refinance, a loan modification may keep you in your home. (Sat, 04 Jul 2009 16:50:04 GMT)

New refinance rules should help in Arizona
The federal government's easing of eligibility requirements for its home-loan refinancing program should allow more Arizonans to reduce their monthly mortgage payments. (Sat, 04 Jul 2009 17:39:26 GMT)

Pending Home Sales Record Fourth Straight Monthly Gain
Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®. (Sat, 04 Jul 2009 23:58:12 GMT)

Local mortgage broker gets national post
Pair elected president of the National Association of Mortgage Brokers (Sun, 05 Jul 2009 00:35:24 GMT)

Mortgage forgiveness may be next
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. (Sun, 05 Jul 2009 04:11:00 GMT)

Mortgage forgiveness may be next
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. (Sun, 05 Jul 2009 05:29:24 GMT)

Protesters demand mortgage help from loan firms
PHILADELPHIA (AP) — Protests are planned in more than a dozen cities across the country to demand that a group of mortgage companies who benefited from federal bailout money participate in a government program designed to prevent foreclosures. (Sun, 05 Jul 2009 05:59:51 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, 05 Jul 2009 08:04:12 GMT)

Mortgage rate fall to help end-users
05 July 2009 Lower property mortgage rates will help end-users generate enough liquidity to buy into the UAE real estate sector, developers, bankers and analysts told Emirates Business. (Sun, 05 Jul 2009 08:10:04 GMT)

Taxpayers on hook for questionable loan
By Megan Rolland Staff writer Records show the chairman of a state-funded entity designed to provide black-owned businesses with financing secured a $250,000 loan. He then defaulted on it, leaving taxpayers holding much of the debt. (Sun, 05 Jul 2009 10:03:33 GMT)

Mortgage rates dip slightly
Rates for 30-year home loans inched downward last week, but still remain above record lows posted during the spring, Freddie Mac said Thursday. The average rate for a 30-year fixed mortgage was 5.32 percent last week, below the previous week's average of... (Sun, 05 Jul 2009 10:09:48 GMT)

Tilson Talks Mortgage Default
With Alexandra Zendrian and Whitney Tilson. (Sun, 05 Jul 2009 10:13:00 GMT)

Importance of Planning In Buying a Miami Real Estate Home
Because of the numerous selections of residential properties in Miami real estate, it is hard for an individual to pick the best home for them. In order to get assurance that you are getting what you need, you have to come up with your list of specifications. (Sun, 05 Jul 2009 12:18:13 GMT)

Forget fun - we just want a home
SOUTH Australians are prepared to sacrifice holidays, entertainment, a car upgrade and even their beloved sports team to realise the goal of home ownership. (Sun, 05 Jul 2009 12:49:11 GMT)

Tory expenses clean-up MP Alan Duncan 'flips 2nd home'
Top Tory Alan Duncan claimed £63,000 in mortgage interest on his designated second home - even though he had owned the property outright for over a decade, it was claimed yesterday. (Sun, 05 Jul 2009 13:03:00 GMT)

Mortgage rates down in Colorado
Mortgage rates have dropped eight basis points in Colorado from a week ago, Zillow Mortgage Marketplace said Sunday. (Sun, 05 Jul 2009 18:49:59 GMT)

TEMECULA: City's first-time home buyer program draws interest
TEMECULA ---- Falling prices have sparked new interest in the city's First Time Home Buyer Program. (Sun, 05 Jul 2009 22:52:06 GMT)

Only six families have benefited from mortgage rescue scheme, says minister
Programme had been intended to help 6,000 families facing repossession Only six families have so far been saved from losing their homes by the government's mortgage rescue scheme, a minister admitted today. Ian Austin, a junior communities minister, confirmed the figure in a debate in Westminster Hall on the £285m scheme that was launched in January with the intention of helping 6,000 families ... (Sun, 05 Jul 2009 23:20:01 GMT)

Property expert: Will an existing mortgage affect my new application?
Q I am renting out my house as I was unable to find a buyer. I switched my mortgage to a "consent to lease" deal and my letting agent has found me a tenant. Now in rented accommodation myself, my problem is that I do not know what I will be able to borrow when I look to buy somewhere else to live. When working out how much I can borrow against my salary is it simply a case of subtracting what I ... (Sun, 05 Jul 2009 23:20:09 GMT)

Mortgage repayments hit record levels
Falling house prices and tightened lending criteria have reduced remortgaging and seen homeowners pay back a record £8.1bn Homeowners reduced their mortgage debts by a record £8.1bn in the first quarter of this year, figures from the Bank of England showed today. Falling house prices and tightened lending criteria have made remortgaging to release equity less easy or attractive for borrowers ... (Sun, 05 Jul 2009 23:20:58 GMT)

Home Federal lands hearing
Home Federal Savings Bank, which fought racial redlining in the mortgage industry in Detroit in the 1940s and 1950s, has won a preliminary victory as it now fights the federal government. (Mon, 06 Jul 2009 00:08:24 GMT)

N.Z. Central Bank Sees Scope for Lower Home-Loan Interest Rates
July 6 (Bloomberg) -- New Zealand banks have scope to lower variable home-loan interest rates further, the Reserve Bank said today in an analysis of lending trends. (Mon, 06 Jul 2009 00:19:04 GMT)

Penampang cops must act on loan sharks, says MCA
Kota Kinabalu: Penampang police have been urged to step up action against the Ah Long (loan sharks) menace in the State. This in one of the five resolutions passed at the MCA Youth Annual General Meeting (AGM) here, last Friday. (Mon, 06 Jul 2009 01:33:41 GMT)

Mortgage rate concerns repeated
6 July 2009 The Reserve Bank is reiterating floating mortgage rates are too high. (Mon, 06 Jul 2009 01:41:17 GMT)

Floating mortgage rates too high: Reserve Bank
The Reserve Bank is reiterating floating mortgage rates are too high. The bank has today released an analysis of retail banks'; interest rate margins. The report says their fixed mortgage rates are, on balance, reasonable, but... (Mon, 06 Jul 2009 02:14:58 GMT)

Paralyzed woman’s family wants her back home
BRISTOL — It’s now been a month and a half since Bristol resident Dawn Cole was paralyzed in a car accident in Uganda. Since then, she has been in a Kenya hospital, while her medical bills mount and her family tries to get her home. (Mon, 06 Jul 2009 02:15:00 GMT)

Home loan levels near long-term norm
HOME LOAN activity is returning to normal levels, but the sector could be affected by a lack of choice facing consumers. (Mon, 06 Jul 2009 03:30:00 GMT)

Small Business Mortgage Woes
One Stateline small business owner is doing her best to avoid foreclosure. But says she's having a hard time getting the mortgage modifications she needs to pull out of debt. (Mon, 06 Jul 2009 04:06:52 GMT)

Floating mortgage margins need scrutiny
Federated Farmers intends to meet with the major trading banks to discover why there is a disparity between farm mortgage interest rates and residential home loans. (Mon, 06 Jul 2009 04:29:43 GMT)

Mortgage forgiveness may be next
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. (Mon, 06 Jul 2009 05:28:34 GMT)

Key calls on Reserve Bank for mortgage solutions
If the Reserve Bank has any ideas on how to get banks to drop their floating mortgage rates then the Government would be willing to consider them, Prime Minister John Key said today. (Mon, 06 Jul 2009 06:34:39 GMT)

Mortgage relief slow in coming for strapped homeowners
Deanna Skinner lives in her dream house in east Everett. But when she and her husband divorced last year, they knew they'd have to sell -- and at a time when the real estate market was crumbling. (Mon, 06 Jul 2009 07:15:08 GMT)

TEMECULA: City's first-time home buyer program draws interest
TEMECULA ---- Falling prices have sparked new interest in the city's First Time Home Buyer Program. (Mon, 06 Jul 2009 07:43:02 GMT)

AFG says mortgage market normalising
The home mortgage market is returning to its long-term normal activity levels but could be affected by a lack of choice among lenders, says leading broker AFG. (Mon, 06 Jul 2009 08:36:29 GMT)

(AFX UK Focus) 2009-07-06 09:22 UPDATE 1-South Korea says to toughen home-backed lending
SEOUL, July 6 (Reuters) - South Korea will toughen mortgage lending by broadening tight loan ceilings to the whole of Seoul and surrounding cities from Tuesday, a regulator said on Monday, amid signs of possible asset price bubbles. The move by the Financial Supervisory Service (FSS) follows a survey by the Bank of Korea, which showed South Korean banks were more willing to expand lending to ... (Mon, 06 Jul 2009 08:48:58 GMT)

Refinancing change offers help for more in Vegas
The Obama administration’s announcement that it is loosening equity requirements for mortgage refinancing provides sizable relief for homeowners in Las Vegas, where so many loans are underwater. The question is, will it be enough? (Mon, 06 Jul 2009 09:10:10 GMT)

Reverse mortgage can help seniors buy new, smaller home
Terry Savage: Americans have learned a tough lesson: Your home is not your piggy bank. However, there is a reward for those who did build equity in their homes: In their senior years, their home can provide a monthly stream of tax-free income, or a lump sum of cash to spend as they wish, while remaining safely in their home. Or it can provide a source of financing for a new, smaller home. It's ... (Mon, 06 Jul 2009 09:50:48 GMT)

1st Monarch Mortgage takes runner-up spot By PHOTO SUBMITTED
1st Monarch Mortgage’s 8-and-under softball team recently captured second place honors in the Marysville Junior Baseball/Softball Association season-end tournament. Team members are, front row, Aaliyah Siders. (Mon, 06 Jul 2009 11:09:13 GMT)

Khir Toyo's palatial new home in the spotlight
SHAH ALAM : DAP’s Sekinchan assemblyman Ng Suee Lim has accused former Mentri Besar Datuk Seri Dr Mohd Khir Toyo of having spent an estimated RM24mil on a palatial home in Section 7 here. (Mon, 06 Jul 2009 11:19:24 GMT)

Michigan revives plan to refund 20% of mortgage interest for many first-time homebuyers
The revival of an old program geared toward helping first-time homebuyers or those buying in targeted communities could save new homeowners thousands of dollars. The Mortgage Credit Certificate program will refund 20 percent of the interest a borrower pays during... (Mon, 06 Jul 2009 12:14:26 GMT)

'Significant' business boost flagged by mortgage brokers
Mortgage brokers are predicting a "significant" pick up in business during the third quarter of the year as buyers return to the housing market, research showed today. (Mon, 06 Jul 2009 12:23:55 GMT)

Selling Your Tampa Real Estate Home
It will be stressful on your part when you are selling your Tampa real estate home. There are times that you cannot avoid committing mistakes. And most of the time finding solution for these mistakes is hard. (Mon, 06 Jul 2009 12:48:26 GMT)

Better Times at Hand for Mortgage Insurer
Richmond, Va.-based Genworth Financial says its U.S. mortgage insurance business was seeing positive results from the Obama Administration's Home Affordability Refinance Program (HARP). (Mon, 06 Jul 2009 13:05:45 GMT)

Khir Toyo denies home is worth RM24m, to sue Sekinchan rep
By Neville Spykerman SHAH ALAM, July 6 – Datuk Seri Dr Mohd Khir Toyo denied today that his new home here cost him RM24 million and threatened to sue Sekinchan Assemblyman Ng Swee Lim for making the claim. Instead, the Opposition leader said he had merely purchased the house worth RM3.5 million on two plots of land, with a bank loan from HSBC. The former mentri besar said the house was already ... (Mon, 06 Jul 2009 13:32:34 GMT)

ABMC Completes Refinancing of Its Line of Credit
KINDERHOOK, N.Y.----American Bio Medica Corporation today announced the successful execution of a new senior secured line of credit with Rosenthal & Rosenthal, Inc., a leading privately held financial services firm. (Mon, 06 Jul 2009 13:45:00 GMT)

Otis Bevel due in court Tuesday to be sentenced for mortgage fraud, conspiracy
Cuyahoga County JailOtis BevelCuyahoga County JailLeland Levert CLEVELAND — Otis Bevel will be sentenced Tuesday by Cuyahoga County Common Pleas Judge Joan Synenberg for mortgage fraud. Bevel, 49, of Shaker Heights, was a real estate broker. He, his family and... (Mon, 06 Jul 2009 15:18:53 GMT)

Aucklander snapped up in loan deal
The South Canterbury Rugby Union has announced its first Heartland loan player of the season after recruiting Aucklander Kayne Walstrum for their campaign. (Mon, 06 Jul 2009 17:07:37 GMT)

(AFX UK Focus) 2009-07-06 18:00 BRIEF-Moody's rates National Mortgage Agent VTB 001 notes
July 6 (Reuters) - National Mortgage Agent VTB: (Mon, 06 Jul 2009 17:32:03 GMT)

Protesters demand mortgage help from loan firms
PHILADELPHIA (AP) — Protests are planned in more than a dozen cities across the country to demand that a group of mortgage companies who benefited from federal bailout money participate in a government program designed to prevent foreclosures. (Mon, 06 Jul 2009 17:50:11 GMT)

Taxpayers on hook for questionable loan
By Megan Rolland Staff writer Records show the chairman of a state-funded entity designed to provide black-owned businesses with financing secured a $250,000 loan. He then defaulted on it, leaving taxpayers holding much of the debt. (Mon, 06 Jul 2009 18:08:22 GMT)

Md. Offers Website To Get Help On Mortgage
Homeowners should talk to a mortgage lender if they're about to fall behind on payments. (Mon, 06 Jul 2009 18:09:51 GMT)

Chris Griffith: Effort to protect consumer from bad appraisal creates havoc
One of the many protective measures that evolved from the housing downturn is the HVCC – Home Valuation Code of Conduct. It was developed by federal officials to protect consumers purchasing or refinancing homes by eliminating fraud and inflated appraisals. The effort was looked upon by some as little more than closing the barn door after the horses got out. n a nutshell, mortgage brokers may no ... (Mon, 06 Jul 2009 18:57:06 GMT)

CA Homeowners Falling for Mortgage Scam
In California, the Department of Real Estate reports an explosion of mortgage scams from 10 open cases a year ago to more than 750 this spring.    KCBS' George Harris reports (Mon, 06 Jul 2009 19:29:49 GMT)

Mortgage numbers drop to lowest level on record
The number of mortgage products on the market has dropped to its lowest level on record as home owners have just over 2000 deals to choose from. (Mon, 06 Jul 2009 19:32:22 GMT)

Gang behind attempt burglary of loan shark Paul Nicholson’s home up for sentencing
A GANG of four who tried to break into jailed loan shark Paul Nicholson’s £1m Delamere home will be sentenced tomorrow ( Tuesday). The group all pleaded guilty to conspiring to burgle the mansion on Golf Course Road at a hearing last month. (Mon, 06 Jul 2009 20:35:53 GMT)

Khir Toyo's palatial new home in the spotlight
(The Star) - DAP’s Sekinchan assemblyman Ng Suee Lim has accused former Mentri Besar Datuk Seri Dr Mohd Khir Toyo of having spent an estimated RM24mil on a palatial home... (Mon, 06 Jul 2009 21:08:46 GMT)

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