Mortgage News Sep 2009

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Judge rules on first step in Stamford mortgage trial
STAMFORD -- A mortgage broker who helped two Stamford brothers refinance two West Main Street properties for more than $1 million breached his duty to them and committed unfair trade practices, a (Thu, 10 Sep 2009 03:11:59 GMT)

Obama's $50B mortgage relief program takes off
Washington -- The Obama administration's $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start: Nearly one in five eligible homeowners have been offered help so far. (Thu, 10 Sep 2009 05:12:51 GMT)

BofA, Wells Fargo step up mortgage modifications
A month after being shamed for helping relatively few borrowers, the two big banks report big gains. Among all lenders nationwide, more than 360,000 homeowners have gotten relief. The sluggish $75-billion federal mortgage relief program got a boost from Wells Fargo & Co. and Bank of America Corp., both of which stepped up their efforts last month to modify home loans. (Thu, 10 Sep 2009 05:21:16 GMT)

Obama administration's $50 billion mortgage relief program gains traction
The Obama administration's $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start. Nearly one in five eligible homeowners has been offered help, the Treasury Department said. (Thu, 10 Sep 2009 06:02:00 GMT)

The New Mortgage Business: More Than Just Loans
For several years, growth in the mortgage industry was expansive. Mortgage brokers and mortgage bankers enjoyed more than modest profits. As industry professionals, mortgage loan originators enjoyed higher than average incomes. (Thu, 10 Sep 2009 08:03:00 GMT)

Repossessions drop, but mortgage payments lag
Substantially fewer homes were repossessed in August than in July, but just as many Americans were behind on their mortgage payments, according to a report released Thursday. (Thu, 10 Sep 2009 08:15:36 GMT)

Mortgage-relief program speeding up
The Obama administration's $50 billion mortgage-relief program is finally picking up speed after a sluggish and disappointing start: Nearly one in five eligible home owners has been offered help so far. (Thu, 10 Sep 2009 09:28:57 GMT)

Xceed Mortgage Reports Fiscal 2009 Third-Quarter Results
Xceed Mortgage Corporation , a Canadian provider of insured mortgages, today announced its financial results for the fiscal 2009 third-quarter and first nine months ended July 31, 2009. (Thu, 10 Sep 2009 10:00:00 GMT)

National home equity loan averages
Here are the average home equity rates from Bankrate's weekly survey of large banks and thrifts. (Thu, 10 Sep 2009 10:00:00 GMT)

Mortgage rates inch downward
Mortgage rates inched downward this week, landing at 5.4 percent. The benchmark 30-year fixed-rate mortgage declined 1 basis point to 5.4 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 10 Sep 2009 10:12:00 GMT)

Zeus Mortgage Overcomes Recession Odds, Secures Impressive Spot in Annual "2009 Inc. 5000 List"
HOUSTON----Zeus Mortgage, a leading mortgage lender, today announced it has secured the ranking of 848th in the “2009 Inc. 5000” list, Inc. Magazine’s annual list of the 5,000 fastest growing privately held businesses in America. (Thu, 10 Sep 2009 11:00:00 GMT)

Home loan seekers can save up to Rs 10,000 on EMIs
NEW DELHI: Home loan seekers can save up to Rs 10,000 on their monthly repayments for one year as the government on Thursday approved 1% interest subsidy for houses that cost less than Rs 20 lakh. (Thu, 10 Sep 2009 11:08:52 GMT)

SIB announces new home loan scheme
Kerala-based South Indian Bank (SIB) has announced a new low-rate housing loan scheme with fixed rate of interest for the first three years. (Thu, 10 Sep 2009 11:30:43 GMT)

ICICI Bank launches special offer for new home loans
The Government today announced interest rate subsidy of one per cent for housing loans up to Rs 10 lakhs and earmarked Rs 1,000 crore for the scheme. Private sector lender ICICI Bank on Wednesday said it has launched new home loan schemes at lower interest rates for new borrowers. (Thu, 10 Sep 2009 11:32:27 GMT)

Mortgage rates show modest change
The average 30-year fixed mortgage rate inched lower to 5.40 percent, according to Bankrate.com's weekly national survey released Thursday. The average 30-year fixed mortgage has an average of 0.34 discount and origination points. (Thu, 10 Sep 2009 12:13:22 GMT)

Bankrate: Fixed Mortgage Rates Make Slight Moves
Bankrate: Fixed Mortgage Rates Make Slight Moves (Thu, 10 Sep 2009 12:30:21 GMT)

Cuyahoga County starts down-payment loan program for homebuyers
People who are in the market to buy a home could be getting some help from the county in making that purchase. Tuesday, Cuyahoga County will kick off a program that will loan up to $40,000 to homebuyers for down... (Thu, 10 Sep 2009 12:51:18 GMT)

SIB announces new home loan scheme
Kerala-based South Indian Bank has announced a new low-rate housing loan scheme with fixed rate of interest for the first three years. (Thu, 10 Sep 2009 13:26:14 GMT)

Dimond Kaplan & Rothstein, P.A. Investigates Bank of America's Recommendations to Refinance Home Mortgages and Invest ...
WEST PALM BEACH, Fla. -- The securities law firm of Dimond Kaplan & Rothstein, P.A. announced today that it is investigating claims relating to investment losses suffered due to Bank of America's recommendations that home owners refinance their home mortgages and use the proceeds to invest in stocks, bonds, futures, commodities, or hedge funds. (Thu, 10 Sep 2009 14:30:00 GMT)

Freddie Mac: Fixed Mortgage Rates Inch Lower
Freddie Mac: Fixed Mortgage Rates Inch Lower (Thu, 10 Sep 2009 14:44:41 GMT)

Refinance of New Mortgage Often Costly
A decision to refinance a mortgage less than 1 year old can turn into an expensive proposition. (Thu, 10 Sep 2009 14:45:11 GMT)

Mortgages: Mortgage rates fall slightly: Freddie Mac
Mortgage rates fall slightly this week, keeping rates low and prompting more homeowners to refinance, Freddie Mac’s chief economist said. (Thu, 10 Sep 2009 15:00:40 GMT)

Xceed Mortgage posts Q3 loss of $7.5M, reverses year-ago profit of $1.5M
TORONTO - Xceed Mortgage Corp. (TSX:XMC) had a $7.5 million loss in its third quarter, offsetting gains in the first half of the year and reversing year-ago profits. (Thu, 10 Sep 2009 16:09:00 GMT)

Mortgage rates edge down, still above record lows
(AP:WASHINGTON) Rates for 30-year home loans ticked down for the second-straight week, remaining close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.07 percent this week, down from 5.08 percent a week earlier, mortgage company Freddie Mac said Thursday. (Thu, 10 Sep 2009 16:17:27 GMT)

Mortgage rates edge down, still above record lows
WASHINGTON (AP) — Rates for 30-year home loans ticked down for the second-straight week, remaining close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.07 percent this week, down from 5.08 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates, while above the record low of 4.78 percent hit in the spring, are still at attractive ... (Thu, 10 Sep 2009 16:17:27 GMT)

Xceed Mortgage posts Q3 loss of $7.5M, reverses year-ago profit of $1.5M
TORONTO - Xceed Mortgage Corp. (TSX:XMC) had a $7.5 million loss in its third quarter, offsetting gains in the first half of the year and (Thu, 10 Sep 2009 16:23:42 GMT)

Mortgage delinquency rates on rise
The percentage of U.S. commercial and multifamily mortgages past due rose during the second quarter, according to the Mortgage Bankers Association. (Thu, 10 Sep 2009 17:04:42 GMT)

Mortgage rates change little
Long-term mortgage rates were little changed this week and remain well below year-ago levels. (FRE) (Thu, 10 Sep 2009 17:29:23 GMT)

Mortgage-Bond Yields Decline to Three-Month Low; Rates May Drop
Sept. 10 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined to the lowest in more than three months, signaling that interest rates on new-home loans will retreat further and bolster the U.S. housing market. (Thu, 10 Sep 2009 18:06:48 GMT)

U.S. Bank pilots a low-cost ‘green’ home-equity loan
Minneapolis-based U.S. Bank is testing a new home-equity loan and line of credit program in Colorado that offers customers a three-eighths percent rate reduction for qualified “green” home improvement projects. (Thu, 10 Sep 2009 18:28:08 GMT)

GENERATION MORTGAGE COMPANY NAMES SCOTT PETERS PRESIDENT AND CHIEF EXECUTIVE OFFICER
ATLANTA - Generation Mortgage Company has named Scott Peters president and chief executive officer. (Thu, 10 Sep 2009 19:08:31 GMT)

6 Questions To Ask Before You Refinance
Refinancing your mortgage can be a quick way to save on payments, but its not for everyone. (Thu, 10 Sep 2009 20:59:08 GMT)

Mortgage-Bond Yields Decline to Three-Month Low; Rates May Drop
Sept. 10 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined to the lowest in more than three months, signaling that interest rates on new-home loans will retreat further and bolster the U.S. housing market. (Thu, 10 Sep 2009 21:55:06 GMT)

BofA, Wells Fargo step up mortgage modifications
A month after being shamed for helping relatively few borrowers, the two big banks report big gains. Among all lenders nationwide, more than 360,000 homeowners have gotten relief. The sluggish $75-billion federal mortgage relief program got a boost from Wells Fargo & Co. and Bank of America Corp., both of which stepped up their efforts last month to modify home loans. (Thu, 10 Sep 2009 23:00:57 GMT)

Mortgage lenders fail to pass on savings
Interest rates on fixed-rate mortgages are rising despite a falling inter-bank rate, according to Bank of England figures The cost of borrowing between banks fell in August, but lenders are not passing on the savings to mortgage customers on fixed-rate deals, figures showed today. Data from the Bank of England showed the average interest rate charged on a five-year fixed-rate mortgage with a ... (Fri, 11 Sep 2009 00:06:53 GMT)

Mortgage payments are lowest for seven years
Mortgage payments are lowest for seven years (Fri, 11 Sep 2009 01:31:12 GMT)

Mortgage Rates Fall
Rates for 30-year home loans ticked down for the second-straight week, remaining close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.07 percent this week, down from 5.08 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates, while above the record low of 4.78 percent hit in the... (Fri, 11 Sep 2009 03:39:24 GMT)

State workshop brings attention to mortgage program
State officials are touring the places in Illinois hardest hit by the mortgage crisis to help struggling owners keep their homes. (Fri, 11 Sep 2009 06:21:05 GMT)

Tucson's StoneWater Mortgage selling assets including software
Caliber Funding LLC has agreed to buy the software platform and other assets of Tucson-based StoneWater Mortgage in a move that could reshape home lending in Arizona and beyond. (Fri, 11 Sep 2009 07:32:58 GMT)

6 Questions To Ask Before You Refinance
Refinancing your mortgage can be a great way to save money, but it's not a sure thing. Before you take the plunge, ask yourself these six questions and ensure that you aren't making a major money mistake. (Fri, 11 Sep 2009 08:03:41 GMT)

McKenna targets mortgage schemes
Washington Attorney General Rob McKenna has teamed up with federal agencies to shut down mortgage scams that prey on homeowners at risk of foreclosure. "Some homeowners were losing... (Fri, 11 Sep 2009 08:13:26 GMT)

Mortgage rates edge down; still higher than record lows
WASHINGTON — Rates for 30-year home loans ticked down for the second-straight week, remaining close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.07 percent this week, down from 5.08 percent a week earlier, mortgage company Freddie Mac said Thursday. (Fri, 11 Sep 2009 08:51:40 GMT)

7 steps to get the best car loan rate
Negotiating a car loan is not that simple as dealers tend to price in manufacturers' and financiers' discount into the interest rate. Here is a step-by-step process to negotiate the best car loan deal. (Fri, 11 Sep 2009 09:27:31 GMT)

Senior mortgage protection measure passes
The Assembly passed approved legislation to prevent money lenders from preying on senior citizens, late Wednesday.Despite lobbying by the banking industry, legislation by Senator Lois Wolk, D-Davis, to prevent money lenders from selling seniors complex, expensive, and unnecessary reverse mortgage (Fri, 11 Sep 2009 09:30:54 GMT)

Grassroots support could help change new appraisal rules
Since May 1 homebuyers who took out a mortgage (or those getting a refinance) have been subject to the now-infamous Home Valuation Code of Conduct (known as the HVCC). (Fri, 11 Sep 2009 11:48:06 GMT)

Vero Fashion Outlets to stay open, mortgage holder says
If the owner of Vero Fashion Outlets mall doesn’t answer a $32.15-million mortgage foreclosure lawsuit by Sept. 16, it could lose the right to defend itself in the case, according to attorneys. If so, a judge could order the outdoor mall at Interstate 95 and State Road 60 -- the first large mall in the county -- to be sold. “We plan to stay open during the foreclosure and after,” said West Palm ... (Fri, 11 Sep 2009 12:23:32 GMT)

Xceed Mortgage's dream of becoming a bank take step forward
TORONTO - Xceed Mortgage Corp. (TSX: XMC), originally a specialist in lending to home buyers who don't qualify for loans from Canada's big (Fri, 11 Sep 2009 12:39:43 GMT)

Xceed Mortgage closer to becoming a bank
Xceed Mortgage Corp., originally a specialist in lending to home buyers who don't qualify for loans from Canada's big financial institutions, is proceeding with plans to become a deposit-taking bank. (Fri, 11 Sep 2009 13:23:24 GMT)

FHA Home Loans- Financing your Home with an FHA Loan Can Allow for Lower Down Payment
FOR IMMEDIATE RELEASE:September 7, 2009 When you are in the market to buy a home, your first step should be to find out what range you need to be within for prices. Applying for a pre-approval for a home loan can help you find out what range you should stay within when house hunting. Your pre-approval will be calculated by a combination of your credit history, annual income, and the amount... (Fri, 11 Sep 2009 14:46:24 GMT)

Trio charged in massive mortgage re-fi scam
The sales manager of a Los Angeles mortgage company and two associates were jailed Friday morning in lieu of $2 million bail each on charges that they defrauded dozens of borrowers out of nearly $1 million. (Fri, 11 Sep 2009 14:52:02 GMT)

Real estate Q&A: What's the smallest down payment for a home loan?
In our first Ask a Real Estate Professional post, Louis Spagnuolo of WCS Lending in Boca Raton addresses adjustable-rate mortgages, down payments and other issues. (Fri, 11 Sep 2009 15:38:57 GMT)

Simi man arrested in alleged mortgage scam
Simi Valley man arrested in alleged mortgage scam. (Fri, 11 Sep 2009 15:54:16 GMT)

Mortgage Service Firms Offer More Relief, but Not a Lot
Sep. 10--WASHINGTON -- Major mortgage service companies boosted the number of trial modifications they offered to distressed homeowners in August, the government reported Wednesday, but the workouts still cover only a small fraction of the delinquent loans that are eligible for help. (Fri, 11 Sep 2009 16:25:50 GMT)

Urban League offers free help Saturday for those caught in foreclosure or mortgage crisis
If you're facing foreclosure or having mortgage troubles and want some free advice, head to the Urban League of Palm Beach County Saturday. (Fri, 11 Sep 2009 16:48:40 GMT)

Local mortgage fraud ringleader gets 30 years
The ringleader of a multimillion-dollar mortgage fraud ring was sentenced this morning to 30 years in the Colorado Department of Corrections. (Fri, 11 Sep 2009 16:49:33 GMT)

3 men arrested in SoCal mortgage fraud scam
LOS ANGELES (AP) - A Simi Valley man and 2 of his associates have been arrested and accused of stealing nearly $1 million from more than 70 people trying to refinance their homes. (Fri, 11 Sep 2009 17:11:58 GMT)

3 men arrested in SoCal mortgage fraud scam
A Simi Valley man and two of his associates have been arrested and accused of stealing nearly $1 million from more than 70 people trying to refinance their homes. California Attorney General Jerry Brown said Friday that 44 charges have been filed against... Sponsored Topics: Jerry Brown - California Attorney General - California - Simi Valley - United States (Fri, 11 Sep 2009 17:44:59 GMT)

3 Men Arrested In SoCal Mortgage Fraud Scam
A Simi Valley man and two of his associates have been arrested and accused of stealing nearly $1 million from more than 70 people trying to refinance their homes. (Fri, 11 Sep 2009 18:02:17 GMT)

Redevelopment Agency’s Housing Enhancement Loan Program (HELP) Spurs Home, Community Improvements in 11 of City’s 17 ...
San Ysidro man first in project area to receive HELP loan for home improvements, Grantville residents now eligible for HELP loans When Michael Fleming needed to rehabilitate his nearly 70-year-old home, he was at his wit’s end. He didn’t know where he’d get the money. Now, thanks to the Housing Enhancement Loan Program (HELP) offered by The [...] (Fri, 11 Sep 2009 19:13:06 GMT)

Obama's mortgage relief program growing
The Obama administration's $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start: Nearly early one in five eligible homeowners have been offered help so far. (Fri, 11 Sep 2009 20:10:05 GMT)

FDIC urges mortgage help for unemployed
The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills. (Fri, 11 Sep 2009 20:27:51 GMT)

FDIC urges mortgage help for unemployed
The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills. Under the FDIC's recommendations, borrowers' monthly... Sponsored Topics: Mortgage - Federal Deposit Insurance Corporation - Business - Financial services - United States (Fri, 11 Sep 2009 20:59:59 GMT)

FDIC urges mortgage help for unemployed
WASHINGTON (AP) — The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills. Under the FDIC's recommendations, borrowers' monthly payments would be reduced for at least six months. The aid would apply to borrowers who have lost their jobs or those who ... (Fri, 11 Sep 2009 21:02:20 GMT)

Obadeyi Loan Extended
The 19 year old, on loan from Bolton will now remain at the County Ground until at least the middle of October. He scored in Swindon's last home game, a 2-1 win over Southend. (Fri, 11 Sep 2009 22:10:44 GMT)

FDIC pushes mortgage help for jobless
Some unemployed homeowners at risk for foreclosure could get a temporary break on their mortgage payments under a plan being pushed by the FDIC. (Fri, 11 Sep 2009 23:00:32 GMT)

L.A. mortgage brokers are accused of stealing nearly $1 million
The California attorney general's office says that beginning in 2007, the three co-workers conspired to forge clients' signatures on phony refinance documents and pocket fees based on bigger loans. Three Southern California mortgage brokers have been arrested on suspicion of stealing nearly $1 million from borrowers seeking to adjust their home loans. (Sat, 12 Sep 2009 01:36:16 GMT)

Make sure your mortgage doesn’t limit your quality of life
I’ve heard you say that your mortgage payment shouldn’t be more than 25 percent of your take-home pay. Does this figure include taxes and insurance, or just principal and interest? (Sat, 12 Sep 2009 01:49:00 GMT)

Mortgage problems are walloping Americans' credit scores
Late payments, delinquencies, short sales and foreclosures are on the rise -- and so are the number of borrowers seeing their credit scores plummet, according to scoring company VantageScore Solutions When you do a short sale of a house, or modify the mortgage, is there much of an effect on your credit score? What if you walk away from the mortgage altogether? (Sat, 12 Sep 2009 02:01:28 GMT)

How you handle mortgage woes affects your credit
When you do a short sale of a house, or modify the mortgage, is there much of an impact on your cred (Sat, 12 Sep 2009 04:02:41 GMT)

How you handle mortgage woes can hammer credit
A scoring company created by the three national credit bureaus—Equifax, Experian and TransUnion—has some eye-opening numbers. VantageScore Solutions LLC, whose risk-prediction scores are now being used by some of the largest mortgage companies and banks, has found that the way consumers handle their mortgage problems can have profound effects on their credit scores. (Sat, 12 Sep 2009 04:07:40 GMT)

Homeowner first to benefit from housing economic recovery loan
When Craig Lackay received the keys to his new home in August, he became the first Frederick resident to own a house through the new Neighborhood Conservation Initiative loan (Sat, 12 Sep 2009 06:02:28 GMT)

Mortgage fraud bills sent to Schwarzenegger
As financial carnage from the housing crash continues across California, state lawmakers have sent several bills that crack down on mortgage fraud to Gov. Arnold Schwarzenegger's desk. (Sat, 12 Sep 2009 07:03:34 GMT)

Mortgage rate remains just above 5 percent
The nation's benchmark mortgage rate has edged down for a second consecutive week, remaining just above 5 percent. (Sat, 12 Sep 2009 09:28:07 GMT)

Alleged partner in mortgage scam accused of heading fake settlement company
CLIFTON PARK — Susan Laverne, one of three people charged in a $2.3 million mortgage fraud scheme last week, is also facing charges in Albany County Court that she pocketed money designated to pay off people’s mortgages. (Sat, 12 Sep 2009 09:36:22 GMT)

Alleged mortgage fraudster wasn’t new to the business
CLIFTON PARK — Susan Laverne, one of three people charged in a $2.3 million mortgage fraud scheme last week, is also facing charges in Albany County Court that she pocketed money designated to pay off people’s mortgages. (Sat, 12 Sep 2009 17:47:15 GMT)

How to keep your home if you lose your job
Programs offered by the government and loan servicers can offer help, but only if you ask for it Few words sting like the ones that inform you that you're being laid off -- especially today, with jobs so hard to come by. If you're a homeowner, the blow of a job loss can be even worse. (Sat, 12 Sep 2009 17:53:44 GMT)

L.A. mortgage brokers are accused of stealing nearly $1 million
The California attorney general's office says that beginning in 2007, the three co-workers conspired to forge clients' signatures on phony refinance documents and pocket fees based on bigger loans. Three Southern California mortgage brokers have been arrested on suspicion of stealing nearly $1 million from borrowers seeking to adjust their home loans. (Sat, 12 Sep 2009 18:45:57 GMT)

Loan modification scams on the rise
VICTORVILLE • The number of California home foreclosures for 2009 is expected to exceed the 240,000 repos of 2008, making worried homeowners ripe for the picking of unscrupulous loan modification companies, according to executives with the (Sat, 12 Sep 2009 19:17:02 GMT)

Mortgage problems are walloping Americans' credit scores
Late payments, delinquencies, short sales and foreclosures are on the rise -- and so are the number of borrowers seeing their credit scores plummet, according to scoring company VantageScore Solutions When you do a short sale of a house, or modify the mortgage, is there much of an effect on your credit score? What if you walk away from the mortgage altogether? (Sun, 13 Sep 2009 02:21:56 GMT)

The value of your home: Million-dollar mansions lost a small percentage while working-class homes lost a big one
For all but a tiny fraction of Palm Beach County homeowners, the question isn't whether your home lost value last year. It's how much it lost - what percentage burst with the housing bubble. (Sun, 13 Sep 2009 02:43:34 GMT)

Special FHA loans include money for home repairs
Don't have the money to fix up or improve that house you want to buy? A streamlined version of a federal government loan that allows buyers to tack on home rehab costs to a mortgage might be an option. While FHA's 203(k) loan has been around for years - including its streamlined cousin that allows for limited repairs of up to $35,000 - the program has been talked up recently with the amount of ... (Sun, 13 Sep 2009 04:06:50 GMT)

Dave Ramsey: How much mortgage can you afford?
Dear Dave: I’ve heard you say that your mortgage payment shouldn’t be more than 25 percent of your take-home pay. Does this figure include taxes and insurance, or just principal and interest? (Sun, 13 Sep 2009 04:11:22 GMT)

FDIC urges mortgage help for unemployed
WASHINGTON (AP) — The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills. (Sun, 13 Sep 2009 04:12:14 GMT)

Banks failing on mortgage relief
SACRAMENTO, Calif. — James Seeley, a machine shop supervisor at the University of California, Davis, just wants a modified mortgage that he and his wife, Sandi, can better afford. (Sun, 13 Sep 2009 05:43:30 GMT)

Alleged mortgage fraudster wasn’t new to the business
CLIFTON PARK — Susan Laverne, one of three people charged in a $2.3 million mortgage fraud scheme last week, is also facing charges in Albany County Court that she pocketed money designated to pay off people’s mortgages. (Sun, 13 Sep 2009 06:02:55 GMT)

30-year mortgage rates edge down on government efforts
Rates for 30-year home loans ticked down for the second-straight week, remaining close to record lows reached over the spring. (Sun, 13 Sep 2009 07:09:11 GMT)

'Mortgage foreclosure rescue' firms likely are scams
Dear Action Line: What can you tell me about 'mortgage foreclosure rescue firms?' We are about to be foreclosed on, and my husband is taking notes off late-night TV ads from these firms saying they can ... (Sun, 13 Sep 2009 07:28:38 GMT)

National mortgage rates
National mortgage rates 30-year fixed 5.07% 0.7 points Last week: 5.08% Month: 5.29% Year: 5.93% 15-year fixed 4.50% 0.7 points (Sun, 13 Sep 2009 07:33:06 GMT)

Mortgage woes' impact on credit scores
When you do a short sale of a house, or modify the mortgage, is there much of an impact on your credit score? What if you walk away from the mortgage altogether? A scoring company created by the three national credit bureaus - Equifax, Experian and... (Sun, 13 Sep 2009 07:35:39 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, 13 Sep 2009 08:02:46 GMT)

Mortgage broker allegedly bilked upwards of $5M from unsuspecting clients
He was a mortgage broker who could be trusted. (Sun, 13 Sep 2009 08:19:31 GMT)

Woman makes maternity home for Metro East her mission
MADISON — Susan Hoff believes that God doesn't shut one door without opening another, and now she's praying that he keeps the second one open long enough for her to move in. Hoff wants to operate a home in the Metro East for pregnant women, but getting started hasn't been an easy process. (Sun, 13 Sep 2009 08:41:05 GMT)

Mortgage broker allegedly bilked upwards of $5M from unsuspecting clients
He was a mortgage broker who could be trusted. He was best man at Harry Herbert's wedding, after convincing him to move from Scotland following a friendship that began after a chance meeting on a QE2 cruise. (Sun, 13 Sep 2009 09:03:51 GMT)

What's included in mortgage payment?
Dear Dave, I've heard you say that your mortgage payment shouldn't be more than 25 percent of your take-home pay. Does this figure include taxes and insurance, or just principal and interest? Anonymous Dear Anonymous, That figure includes taxes and insurance. Just remember, the whole idea is to make sure your house payment is manageable. You don't want to have so much money going toward ... (Sun, 13 Sep 2009 09:56:53 GMT)

RAK Properties Obtains a 150 million USD loan from (IDO)
RAK Properties (PJSC), the leading property developer in Ras Al Khaimah has successfully obtained a loan from Investment & Development Office for an amount of USD 150 million to support and finance its projects. (Sun, 13 Sep 2009 10:25:24 GMT)

Barclays says UAE mortgage defaults unaffected by crisis
Despite a wave of layoffs, the bank said mortgage portfolio not hit by slowing economy. (Sun, 13 Sep 2009 10:46:26 GMT)

Squeeze on first home buyers
PRESSURE is set to squeeze first-home buyers as a combination of factors makes it even tougher to get a foot in the door of home ownership. (Sun, 13 Sep 2009 14:00:00 GMT)

First home blues
PRESSURE is about to intensify on first home buyers as a cocktail of factors makes it even tougher to get a foot in the door of home ownership (Sun, 13 Sep 2009 14:45:50 GMT)

Ariz. refinancing state property to balance budget
Faced with a state budget crisis that won't quit, Arizona lawmakers are offering to sell legislative buildings, prisons and other facilities that the state would then lease back, effectively taking out a mortgage on paid-for state property. (Sun, 13 Sep 2009 15:17:15 GMT)

Mortgage broker who allegedly bilked $5M seemed trustworthy
He was a mortgage broker who could be trusted. He was best man at Harry Herbert's wedding, after convincing him to move from Scotland following a friendship that began after a chance meeting on a QE2 cruise. (Sun, 13 Sep 2009 15:18:26 GMT)

Ariz. refinancing state property to balance budget
Faced with a state budget crisis that won't quit, Arizona lawmakers are offering to sell legislative buildings, prisons and other facilities that the state would then lease back, effectively taking out a mortgage on paid-for... (Sun, 13 Sep 2009 15:22:04 GMT)

Ariz. Refinancing State Property
Arizona lawmakers are offering to sell legislative buildings, prisons and other facilities that the state would then lease back to battle the state budget crisis. (Sun, 13 Sep 2009 17:15:29 GMT)

Ariz. refinancing state property to balance budget
PHOENIX (AP) - Faced with a state budget crisis that won't quit, Arizona lawmakers are offering to sell legislative buildings, prisons and other facilities that the state would then lease back, effectively (Sun, 13 Sep 2009 19:41:22 GMT)

New head of State Bar of California assails mortgage modification scammers
Los Angeles attorney Howard Miller lambastes lawyers who claimed to be offering help to homeowners facing foreclosure but did nothing except take their money. Crooked lawyers have long besmirched the profession's image, but the scale of their involvement in the loan modification scandals plaguing California homeowners has taken an unprecedented toll, the incoming president of the State Bar of ... (Mon, 14 Sep 2009 02:19:19 GMT)

League event offers mortgage aid, jobs
Hundreds of struggling Louisville homeowners could get help by speaking face-to-face with their mortgage companies at the Kentucky International Convention Center on Tuesday — and they might find a job in the same visit. (Mon, 14 Sep 2009 02:57:39 GMT)

2009 home foreclosures expected to exceed 2008
VICTORVILLE • The number of California home foreclosures for 2009 is expected to exceed the 240,000 repos of 2008, making worried homeowners ripe for the picking of unscrupulous loan modification companies, according to executives with the (Mon, 14 Sep 2009 03:17:02 GMT)

Westpac chops home loan interest rates
Westpac has cut some of its short term home loan interest rates with the biggest cut being made to its revolving credit product. The moves, according to www.mortgagerates.co.nz , give Westpac the best six-month rate in the market and places its 19 basis points below the main bank median rate for this term. (Mon, 14 Sep 2009 03:37:16 GMT)

Faster approval of federal housing loan applications
KOTA KINABALU : Sabah Housing and Real Estate Developers Association (Shareda) has hailed the Federal Housing Loan Division for setting up the Sabah branch. (Mon, 14 Sep 2009 03:56:08 GMT)

Lindgren Joins FCSAmerica’s Yankton Office
Matt Lindgren recently joined Farm Credit Services of America (FCSAmerica) in Yankton/Sioux City as a country home loan officer. He is responsible for marketing FCSAmerica’s Country Home Loans program throughout the area. Country Home Loans offers financing for construction of new homes, including lot purchases, and the purchase or refinance of existing homes in the country. (Mon, 14 Sep 2009 05:50:16 GMT)

(AFX UK Focus) 2009-09-14 06:51 Prudential gets OK for lending in Japan -source
TOKYO, Sept 14 (Reuters) - Prudential Financial Inc has won a licence for commercial real estate finance business in Japan, where it sees a growing demand for debt refinancing and to finance property transactions, a source said on Monday. Prudential Mortgage Capital Co, a commercial real estate finance unit of Prudential, won the licence on Aug. 28 and has started marketing the nonrecourse loan ... (Mon, 14 Sep 2009 06:12:18 GMT)

Tax credit prompts many young professionals to buy a home
We talk to several young professionals who decided to buy a home thanks to the $8,000 first-time home buyer tax credit. (Mon, 14 Sep 2009 07:06:35 GMT)

UK mortgage lending rises in July
U.K. mortgage lending rose significantly in July for the second straight month but the market is likely to remain subdued for some time, the Council of Mortgage Lenders said Monday. (Mon, 14 Sep 2009 09:00:13 GMT)

Uncovering Troubled Mortgage Lenders Is Not Easy For Homebuyers
In the throes of the housing crisis, potential homebuyers should make sure they are not turning to mortgage brokers and lenders that have been disciplined by state regulators. However, consumers who need this information more than ever to protect themselves from predatory lenders and brokers have no easy way of obtaining it. (Mon, 14 Sep 2009 09:01:57 GMT)

Mortgage lending shows large increase
Mortgage lending for house purchase showed its first significant annual increase since early 2007 during July, figures revealed today. (Mon, 14 Sep 2009 09:02:40 GMT)

More home buyers researching online
STOCKTON - The last time housing prices were this low in San Joaquin County, real estate agents were filling up the gas tanks in their 1980 automobiles and taking their clients to home after home in an effort to narrow down desires and demands. (Mon, 14 Sep 2009 09:13:20 GMT)

UK mortgage lending rises in July
LONDON (AP) — U.K. mortgage lending rose significantly in July for the second straight month but the market is likely to remain subdued for some time, the Council of Mortgage Lenders said Monday. The number of loans for house purchases rose 24 percent from June to 56,000, and the value rose 27 percent to 7.5 billion pounds ($12.4 billion), the council said. The value of home purchase loans in ... (Mon, 14 Sep 2009 09:16:29 GMT)

Rise in mortgage lending
Mortgage lending for house purchase showed its first significant annual increase since early 2007 during July, figures have revealed. (Mon, 14 Sep 2009 09:26:36 GMT)

UK mortgage lending rises in July
U.K. mortgage lending rose significantly in July for the second straight month but the market is likely to remain subdued for some time, the Council of Mortgage Lenders said Monday. The number of loans for house purchases rose 24 percent from June to 56,000,... Sponsored Topics: Council of Mortgage Lenders - Loan - Business - Mortgage loan - Mortgage (Mon, 14 Sep 2009 09:29:59 GMT)

UK Mortgage Lending Rises in July
UK mortgage lending rises in July for 2nd straight month (Mon, 14 Sep 2009 09:31:30 GMT)

Help for mortgage scam victims
Homeowners may have little recourse if they're victims of a mortgage scam, but there is hope. (Mon, 14 Sep 2009 10:00:00 GMT)

Options after mortgage servicer fails?
The bankruptcy of a major loan servicer left a tangle of problems for homeowners. What can they do? (Mon, 14 Sep 2009 10:00:00 GMT)

Home-loan plan open to Salem-area residents
Salem residents will have two chances to learn about how they can access funds to be used as a down payment on the purchase of a single-family home. (Mon, 14 Sep 2009 10:19:34 GMT)

'Significant' Jump In Mortgage Lending
Mortgage lending for house purchase was 19% higher during July - but a separate report has warned that prices will take five years to hit 2007 levels. (Mon, 14 Sep 2009 11:15:44 GMT)

'Significant' Jump In Mortgage Lending
Mortgage lending for house purchase was 19% higher during July - but a separate report has warned that prices will take five years to hit 2007 levels. (Mon, 14 Sep 2009 11:15:44 GMT)

Options after mortgage servicer fails?
Bounced refund checks. Contradictory information about where to send mortgage payments. House payments that are supposed to be automatically debited but aren't. These are some of the issues faced by hundreds of thousands of former customers of Taylor, Bean & Whitaker. (Mon, 14 Sep 2009 11:42:10 GMT)

Mortgage lending 20pc higher than last year as market shows first real growth since 2007
Mortgage lending 20pc higher than last year as market shows first real growth since 2007 (Mon, 14 Sep 2009 12:03:41 GMT)

Are Britain's Scrooges Slowing Recovery?
Paul Coletti is always on the lookout for a deal. In February the 39-year-old BBC producer took advantage of historically low interest rates to refinance the mortgage on his two-bedroom flat. The accelerated monthly payments are 30% higher than they were before, leaving him less spending money to buy the indie rock albums he collects. But Coletti doesn't mind. "Now is the time to be paying off ... (Mon, 14 Sep 2009 12:08:43 GMT)

Reduce EMI and loan tenure, save money!
Whenever you take a loan, you have to pay interest on the borrowed amount. This interest is an expense. Higher the interest rate, higher the amount you pay towards interest. So you end up paying more towards the loan, thus making the purchase costly. Hence it is essential for you to reduce the amount you pay towards your EMI. (Mon, 14 Sep 2009 12:12:18 GMT)

Imps May Hit Loan Market
Simon Clark revealed that he may have the green light to bring in a loan player oor two in the coming days as the gravity of having a wafer thin squad begins to hit home. (Mon, 14 Sep 2009 13:38:45 GMT)

Plan to reduce mortgage expenses
THE long-awaited National Electronic Conveyancing System could save lenders up to $46 million in mortgage settlement costs a year, the LIXI Industry Forum heard last week. (Mon, 14 Sep 2009 14:00:00 GMT)

New home for old engine
HANCOCK - In July, the Quincy Mine Hoist Association brought back from New Jersey a locomotive which used to haul copper ore trains at the mine. The locomotive was donated back to the association by a company which changed its plans to use it to haul a tourist train at a state park. Because of a loan recently received by the association, the locomotive will have a new home. (Mon, 14 Sep 2009 14:43:14 GMT)

Mortgage lending up but recovery is fragile
The housing market made further steps towards recovery today after mortgage lending showed its first annual increase since early 2007. (Mon, 14 Sep 2009 14:43:23 GMT)

Why Alt Media Beat the MSM to the Mortgage Crisis
Over recent months, The Audit and CJR have investigated how it was that business reporters failed to see the crisis in the mortgage and credit markets as it brewed and bubbled, even when evidence of its unsustainability was plain to see for those who chose to look. (Mon, 14 Sep 2009 15:17:58 GMT)

Wilbur Ross Sees 20% Return for Treasury-Backed Mortgage Fund
Sept. 14 (Bloomberg) -- Wilbur Ross , the billionaire investor in distressed assets, projected the highest return among four firms vying for as much as $200 million from Connecticut state pensions to buy troubled mortgage securities. (Mon, 14 Sep 2009 16:07:35 GMT)

Leeds in temporary mortgage halt
Leeds Building Society has withdrawn temporarily from the Irish mortgage market. The building society entered the Irish market in 2006. It said there would be no change for existing customers. But it said it would temporarily withdraw from accepting new business from September 14. (Mon, 14 Sep 2009 17:39:58 GMT)

Now, a loan mela to buy jewellery
Bangalore, Sept. 14 After automobile and home melas , consumers can now grab the bank’s lending hand at jewellery melas too — at a time when gold prices are rising to new highs. (Mon, 14 Sep 2009 18:38:32 GMT)

Couple sues to restore home equity loan
CUPERTINO, Calif., Sept. 14 (UPI) -- A California couple is suing their bank, JPMorgan Chase, for reducing their home equity line of credit from $160,000 to zero, court records show. (Mon, 14 Sep 2009 18:44:05 GMT)

Bank: Floyd Mayweather Jr. owes $167,192 on default auto loan
Just days before his fight against Juan Manuel Marquez, Las Vegas boxer Floyd Mayweather Jr. faces another potential distraction. JP Morgan Chase Bank filed suit in Clark County District Court against Mayweather, claiming he owes more than $167,000 on an auto loan that is in default. (Mon, 14 Sep 2009 20:01:54 GMT)

Home Depot To Develop Martha Stewart-brand Line
Home Depot To Develop Martha Stewart-brand Line (Mon, 14 Sep 2009 21:00:11 GMT)

Metro-east minister sentenced to four years in prison for mortgage loan fraud
A metro-east minister was sentenced Friday to four years in prison for federal mortgage loan fraud after he made fraudulent transactions to get a loan on a home in an exclusive Maryville neighborhood. (Mon, 14 Sep 2009 22:56:49 GMT)

Home Depot, Martha Stewart Team Up on Product Line
Home Depot (HD) and Martha Stewart Living Omnimedia (MSLO) said Monday they plan to develop a Martha Stewart Living brand of home-improvement products. (Mon, 14 Sep 2009 23:00:31 GMT)

Concord mortgage lender gets prison for fraud
Associated Press - September 14, 2009 7:24 PM ET SAN FRANCISCO (AP) - A Concord mortgage lender will serve time in federal prison after being convicted of what prosecutors say was a real estate... (Mon, 14 Sep 2009 23:32:53 GMT)

Mortgage lending sees annual growth
Mortgage lending has shown its first annual growth for more than two years and house prices are on the rise thanks to low interest rates and increasing economic confidence. (Tue, 15 Sep 2009 00:35:31 GMT)

Residential Finance Corp. Names Douglas Harris as COO
Residential Finance Corporation (RFC) (http://www.residentialfinance.co an award-winning nationwide mortgage lender specializing in refinance has named Douglas Harris to the position of Chief Operating Officer. (Tue, 15 Sep 2009 00:55:11 GMT)

Idaho Housing Agency's Series 1990F Single-Family Mortgage Bond Rating Revised To 'A+'
Standard & Poor's Ratings Services revised the rating on Idaho Housing Agency's single-family mortgage bonds, series 1990F, to 'A+' from 'AAA' based on the presence of a guaranteed investment contract (Tue, 15 Sep 2009 01:30:25 GMT)

Mortgage fraud on the rise
A Chesapeake homeowner contacted WAVY.com saying her loan modification went all wrong. Deborah, who asked that her real name not be revealed, said she was desperate to get her mortgage payments under control after falling behind. (Tue, 15 Sep 2009 02:18:57 GMT)

Seven New Rules: Forget About Stretching Financially With First Home
Ron Lieber Too many people bought too much house for too many years. But the roots of the mortgage contagion lie with all of us and our desire to own just a bit more house. (Tue, 15 Sep 2009 02:24:33 GMT)

Mortgage modifications make things worse for some
Tens of thousands of financially strapped homeowners who have asked lenders to lower their mortgage payments are instead winding up with higher monthly payments and larger debts on their homes. (Tue, 15 Sep 2009 03:22:36 GMT)

Mortgage Mishap: A Home Loan Nightmare
Kimberly and Lance Schrodt are venturing into new territory. They have a new dog, are newly married and they have a new mortgage. (Tue, 15 Sep 2009 04:15:13 GMT)

W Hotel has yet to get $10M city loan
Nearly four months after the city announced plans to issue a $10 million loan to the stalled W Hotel project, the money still hasn't been borrowed. The final piece... (Tue, 15 Sep 2009 04:26:30 GMT)

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