Mortgage News Sep 2009
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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. (Tue, 15 Sep 2009 05:29:06 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. (Tue, 15 Sep 2009 08:01:47 GMT)
Home loan rates dive
Union Bank, Bank of India, ICICI Bank cut rates (Tue, 15 Sep 2009 09:27:28 GMT)
FSA bans mortgage broker for inadequate controls at his firm
The Financial Services Authority (FSA) has banned mortgage broker Arthur Kirk, trading as Grosvenor Mortgage Advice Centre, for failing to establish proper systems and controls at his business based in Manchester. (Tue, 15 Sep 2009 09:27:38 GMT)
Behind again after mortgage modification?
There are few options for someone in bankruptcy and who's already modified the mortgage once. (Tue, 15 Sep 2009 10:00:00 GMT)
Applying for Home Equity Loan Online Offers Fast Approval Time
FOR IMMEDIATE RELEASE: September 9, 2009 100 equity home loan financing will allow you to get hold of all the value your house has built up. You can use this money to finance home repairs or remodeling, college tuition, or consolidating your debts at decreased finance rates. By going online you can look for a mortgage lender and possibly attain a better deal on the interest rate and on... (Tue, 15 Sep 2009 10:00:37 GMT)
Taylor Bean's checks reportedly bouncing
By Fred Hiers Staff writer When Barbara Booher's $1,050 refund check arrived at her Tampa home last month, she thought the check was as good as cash, seeing as how it came from the company that serviced her home mortgage. (Tue, 15 Sep 2009 10:32:40 GMT)
Behind again after mortgage modification?
Dear Bankruptcy Adviser, I filed for Chapter 7 bankruptcy after I completed a loan modification with my mortgage company. Then, I fell two months behind with my payments. (Tue, 15 Sep 2009 11:42:43 GMT)
EU Extends Probe of ING’s Mortgage Risk Transfer Plan (Update1)
Sept. 15 (Bloomberg) -- The European Union extended its probe of ING Groep NV’s planned risk transfer of 21.6 billion euros ($31.5 billion) of mortgage assets to the Dutch government and said the portfolio may be overvalued. (Tue, 15 Sep 2009 11:49:34 GMT)
National 30-year Fixed Mortgage Rates Continue to Fall; Weekly Average Rates Below 5.00% in Some States
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.04 percent, down from 5.09 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. (Tue, 15 Sep 2009 12:01:00 GMT)
Siblings might need to refinance mom's mortgage
Question: Our elderly mother gave her three children equal interest in her home by filing three quitclaim deeds, so when she dies we'll own it equally. (Tue, 15 Sep 2009 12:08:34 GMT)
New First American CoreLogic Study Quantifies Consumer Benefit of Economic Stimulus Tied to Mortgage Rates
First American CoreLogic, a member of The First American Corporation family of companies and America's largest provider of advanced property and ownership information, analytics and services, today released a new study that measures the consumer impact of recent government actions to reduce mortgage rates. (Tue, 15 Sep 2009 12:32:00 GMT)
EU Extends Probe of ING’s Mortgage Risk Transfer Plan (Update2)
Sept. 15 (Bloomberg) -- The European Union extended its probe of ING Groep NV’s planned risk transfer of 21.6 billion euros ($31.5 billion) of mortgage assets to the Dutch government and said the portfolio may be overvalued. (Tue, 15 Sep 2009 13:00:58 GMT)
Residential Finance Corp. Names Douglas Harris as COO
COLUMBUS, Ohio----Residential Finance Corporation , an award-winning nationwide mortgage lender specializing in refinance has named Douglas Harris to the position of Chief Operating Officer. (Tue, 15 Sep 2009 14:22:00 GMT)
Minister sentenced to prison for mortgage fraud
EAST ST. LOUIS -- A federal judge in East St. Louis has ordered a southwestern Illinois minister to spend four years in federal prison and repay $142,000 in a mortgage fraud case. (Tue, 15 Sep 2009 14:25:35 GMT)
Mass. Mortgage Rates Fall Closer To 5 Percent
The average rate on a 30-year fixed mortgage in the state fell to 5.08 last week from 5.13 percent the week prior, according to online mortgage tracker Zillow. (Tue, 15 Sep 2009 15:16:06 GMT)
City police arrest four men in £9m mortgage fraud operation
The City of London Police has arrested four men in connection with a £9m mortgage fraud against a major insurance company. ... (Tue, 15 Sep 2009 15:42:08 GMT)
St Ledger moves to Middlesbrough on three-month loan
Middlesbrough have signed defender Sean St Ledger on a three-month loan from Preston. Related Stories UEFA overturns Eduardo's two-match ban Burley to remain on as Scotland boss Premier League plans home-grown quota Adebayor to learn if he will face charges Man City considering appeals after Adebayor charged (Tue, 15 Sep 2009 16:20:06 GMT)
St Ledger moves to Middlesbrough on three-month loan
Middlesbrough have signed defender Sean St Ledger on a three-month loan from Preston. Related Stories Man U and Chelsea in European action tonight Adebayor to learn if he will face charges Burley to remain on as Scotland boss Premier League plans home-grown quota Man City considering appeals after Adebayor charged (Tue, 15 Sep 2009 16:27:48 GMT)
Repair, mortgage firms sued for fraud
Mark Diamond accused of coordinating scheme aimed at elderly, African-Americans The Illinois Attorney General's office filed suit in Cook County Circuit Court Tuesday against a Chicago man and five home repair and mortgage companies for allegedly defrauding 36 Chicago homeowners, including two who have lost their homes to foreclosure as a result of the actions. (Tue, 15 Sep 2009 16:38:55 GMT)
Brazil Developing Secondary Mortgage Market as Housing Recovers
Sept. 15 (Bloomberg) -- Brazil is beginning to develop a secondary mortgage market after the housing industry averted collapse, Itau Unibanco Holding SA real estate analyst David Lawant said. (Tue, 15 Sep 2009 16:41:24 GMT)
‘First Home’ progress report: 2,000 contracts approved
The National SMEs Loan Guarantee Fund (FNGCIMM) had processed and remitted to banks guarantee contracts for a total number of 1,950 beneficiaries of the ‘First Home’ programme by last Monday, and is currently working on 656 more applications. (Tue, 15 Sep 2009 19:34:32 GMT)
Let us know if you're planning to use city and county assistance for home ownership
Local government reporter TaMaryn Waters is looking to talk to first-time home buyers who are hoping to use city and county financial loan assistance. The city made plans to change the down-payment assistance available for interested home-owners. During the Aug. 19 meeting, city commissioners approved to decrease the maximum amount of money a first-time home-owner could receive. The loan would ... (Tue, 15 Sep 2009 19:51:54 GMT)
Man, 5 firms accused of home repair, mortgage fraud
A Chicago man and five home-repair and mortgage companies stripped nearly $1.3 million in equity from the homes of at least 36 older people and African-American residents of the city's South and West sides, the state attorney general's office said today. Mark Diamond and the five financing and home-repair companies defrauded homeowners and stripped equity from the homes, according to a lawsuit ... (Tue, 15 Sep 2009 21:52:26 GMT)
Mortgage relief program growing
But many lenders slow to participate 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 so far. (Tue, 15 Sep 2009 23:49:06 GMT)
IRS issues rules to ease mortgage refinancing
WASHINGTON (AP) — The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. The rules would allow commercial loans that are part of investment pools known as Real Estate Mortgage Investment Conduits, or REMICs, to be refinanced without triggering tax penalties for investors. The investment pools were ... (Wed, 16 Sep 2009 00:01:19 GMT)
IRS issues rules to ease mortgage refinancing
The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. (Wed, 16 Sep 2009 00:38:23 GMT)
Should I pay out my HECS or increase my mortgage repayments?
Q. I am a 27 year old teacher, single, and I've been working full time since last year. I have a $30,000 HECS debt, although have paid some HECS over the past year, and have just taken on a $240,000 mortgage for my first home. (Wed, 16 Sep 2009 03:17:58 GMT)
When can I use my super to pay off my mortgage?
Q. You suggested that it would be beneficial to access superannuation after age 60 to pay off a mortgage. I am 63 years old and continue to work full time with average income and a small mortgage. (Wed, 16 Sep 2009 03:18:08 GMT)
Former Madison County homebuilder charged in mortgage fraud scheme
JACKSON, MS (WLBT) - A former Madison County home builder is facing charges in a mortgage fraud scheme. A federal grand jury returned a four count indictment against Seneca Ontario McField. (Wed, 16 Sep 2009 04:10:08 GMT)
Let us know if you're planning to use city and county assistance for home ownership
Local government reporter TaMaryn Waters is looking to talk to first-time home buyers who are hoping to use city and county financial loan assistance. The city made plans to change the down-payment assistance available for interested home-owners. During the Aug. 19 meeting, city commissioners approved to decrease the maximum amount of money a first-time home-owner could receive. The loan would ... (Wed, 16 Sep 2009 06:09:21 GMT)
Home loan modifications fall short of number promised
Thousands of homeowners who attended the Save the Dream event in Columbia six months ago still haven't gotten the lower mortgage payments that Neighborhood Assistance Corp. of America promised it could arrange for most attendees. (Wed, 16 Sep 2009 06:29:39 GMT)
Moody’s Cuts Hong Kong Mortgage Corp. Rating to Aa2 (Update1)
Sept. 16 (Bloomberg) -- Hong Kong Mortgage Corp. had its credit ratings cut by Moody’s Investors Service because the government’s ability to provide support during crises is constrained by its own debt. (Wed, 16 Sep 2009 07:52:12 GMT)
Moody's Downgrades Hong Kong Mortgage's Ratings
Moody's Downgrades Hong Kong Mortgage's Ratings (Wed, 16 Sep 2009 07:59:51 GMT)
Woolwich offers mortgage at 1.98pc
Woolwich has become the second lender in two weeks to launch a mortgage with a rate of less than 2pc. (Wed, 16 Sep 2009 08:54:03 GMT)
Mortgage broker sued
Attorney General Lisa Madigan on Tuesday sued mortgage broker Mark Diamond and five home-repair and mortgage companies for allegedly stripping nearly $1.3 million in equity from 36 homeowners, mostly elderly African Americans, on the West and South sides. (Wed, 16 Sep 2009 09:01:38 GMT)
Mortgage News - Three Types of Home Loans for First Time Home Buyers
FOR IMMEDIATE RELEASE: September 11, 2009 There are various loan programs available to the first-time home buyer. There are certain ones that can benefit the first time home buyer more than the others. Government loan programs are usually the best for down payment amounts and decent interest rates. These programs include the FHA, USDA, and VA ... (Wed, 16 Sep 2009 09:15:40 GMT)
Woolwich lowers mortgage rate
The Woolwich today became the second lender in two weeks to launch a mortgage with a rate of less than 2 per cent. (Wed, 16 Sep 2009 10:03:31 GMT)
Mortgage applications fell 8.6% last week: MBA
The volume of mortgage applications filed last week fell a seasonally adjusted 8.6% compared with the week before, according to the Mortgage Bankers Association. (Wed, 16 Sep 2009 11:31:00 GMT)
Woolwich drops mortgage rate
The Woolwich today became the second lender in two weeks to launch a mortgage with a rate of less than 2 per cent. Related Stories Energy firm invests £1.23m and doubles jobs BAE to axe 1,100 defence workers O’Brien directors ‘backed INM deal he opposes’ 120 new jobs announced by direct marketing company Northern Ireland’s dole queue lengthens (Wed, 16 Sep 2009 11:38:11 GMT)
Mortgage rationing 'may continue'
The mortgage market is unlikely to improve significantly in the short-term despite wholesale funding costs falling to a record low, commentators have said. (Wed, 16 Sep 2009 11:56:06 GMT)
TaxWatch: IRS to mine mortgage-deduction data to snag cheats
The mortgage-interest deduction claimed by millions of homeowners every year may prove to be a useful window for the IRS to peek into taxpayers’ income situation -- and potentially reap millions of dollars in unpaid taxes. (Wed, 16 Sep 2009 12:11:20 GMT)
TaxWatch: IRS to mine mortgage-deduction data to snag cheats
The mortgage-interest deduction claimed by millions of homeowners every year may prove to be a useful window for the IRS to peek into taxpayers’ income situation -- and potentially reap millions of dollars in unpaid taxes. (Wed, 16 Sep 2009 12:15:50 GMT)
IRS To Mine Mortgage-deduction Data To Snag Cheats
IRS To Mine Mortgage-deduction Data To Snag Cheats (Wed, 16 Sep 2009 12:30:11 GMT)
Big Changes in Southern California Home Sales
For months the big story was how fast California home sales were rebounding as investors snapped up cheap, foreclosed homes. Now the sales and price trends are reversing. (Wed, 16 Sep 2009 12:58:01 GMT)
MBA: Mortgage Applications Decrease Last Week
(RTTNews) - Mortgage application volume decreased 8.6 percent last week as refinancing and purchase applications both fell. (Wed, 16 Sep 2009 13:46:45 GMT)
The Secret Test That Ensures Lenders Win on Loan Mods
by Alexandra Andrews and Emily Witt “NPV Test: Failed.” That was the red-lettered verdict on the computer screen of a CitiMortgage negotiator in June. The result: An 83-year-old widow in Illinois was denied a loan modification through the Obama administration’s Making Home Affordable program, even though the employee admitted in an e-mail, “I am unable to come up with a reason for the denial ... (Wed, 16 Sep 2009 13:58:01 GMT)
National Mortgage Demand Drops, Supply Caps Improvement
Demand for home loans nationwide fell as fixed mortgage rates rose last week in a banking period shortened by the Labor Day holiday, the Mortgage Bankers Association said on Wednesday. (Wed, 16 Sep 2009 14:01:01 GMT)
FBI says has over 2,600 mortgage fraud cases pending
The Federal Bureau of Investigation has more than 2,600 mortgage fraud cases pending as of July 31, most of which involve losses of over than $1 million, FBI Director Robert Mueller said on Wednesday in prepared remarks to the U.S. Senate Judiciary Committee. (Wed, 16 Sep 2009 14:36:33 GMT)
U.S. mortgage demand drops, supply caps improvement
Demand for U.S. home loans fell by more than 8 percent as fixed mortgage rates rose last week in a banking period shortened by the Labor Day holiday, the Mortgage Bankers Association said on Wednesday. (Wed, 16 Sep 2009 14:51:53 GMT)
FBI mortgage fraud probes grow to 2,600 cases
The Federal Bureau of Investigation's caseload for mortgage fraud has continued to grow as homeowners cope with the shattered housing market, FBI Director Robert Mueller told the U.S. Congress on Wednesday. (Wed, 16 Sep 2009 15:21:18 GMT)
IRS to Mine Home Loan Deduction Data to Snag Tax Cheats
The mortgage-interest deduction claimed by many homeowners may be a useful window for the IRS to peek into taxpayers' income situation -- and potentially reap millions of dollars in unpaid taxes. (Wed, 16 Sep 2009 15:44:57 GMT)
Could you have an illegal mortgage and not know it?
Apparently a majority of Florida attorneys say homeowners are not typically the first to realize they have a mortgage with terms that violate their consumer rights, such as hidden fees or balloon payments they were not told about at signing.... (Wed, 16 Sep 2009 16:22:58 GMT)
IRS issues rules to ease mortgage refinancing
The rules would allow commercial loans that are part of investment pools known as Real Estate Mortgage Investment Conduits, or REMICs, to be refinanced without triggering tax penalties for investors. (Wed, 16 Sep 2009 17:30:51 GMT)
Fed, IRS try to limit problem loans in commercial real estate
The Federal Reserve is stepping up its scrutiny of commercial real estate loans at smaller banks, which have seen delinquency rates double in the past year. At the same time, the IRS issued rules Tuesday designed to make it easier to refinance some commercial real estate loans, to try to curb the number of defaults. (Wed, 16 Sep 2009 17:53:03 GMT)
Nationwide 7.7% loan demands more than perfection
A squeaky-clean record and a top Experian rating doesn't guarantee a best-rate deal, as Rupert Jones reports Help! I've got a perfect credit record, so why won't they give me their best personal loan rate? That was the question posed this week by Michael Ramsey*, who has been left scratching his head after he applied for Nationwide's best-buy 7.7% APR rate, but was knocked back. When he checked ... (Wed, 16 Sep 2009 18:17:21 GMT)
FDIC names first winning bidder in program to back private buys of toxic mortgage assets
WASHINGTON - The Federal Deposit Insurance Corp. has named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets. (Wed, 16 Sep 2009 18:21:23 GMT)
Refinancing may lead to tax savings
I am planning on refinancing yet this year. Is there anything that I should consider now as I think ahead about tax season? (Wed, 16 Sep 2009 19:14:47 GMT)
InnVest Real Estate Investment Trust Announces 2010 Mortgage Refinancing
TORONTO, CANADA-- - InnVest Real Estate Investment Trust announced today that it has successfully refinanced a $177 million mortgage for a 3 year term at an interest rate of 7.5%. The mortgage, secured by 40 limited service hotels, was originally scheduled to mature in July 2010. (Wed, 16 Sep 2009 21:00:14 GMT)
InnVest Real Estate Investment Trust Announces 2010 Mortgage Refinancing
TORONTO, CANADA--(Marketwire - Sept. 16, 2009) - InnVest Real Estate Investment Trust ("InnVest")(TSX:INN.UN) announced today that it has successfully refinanced a $177 million mortgage for a 3 year term at an interest rate of 7.5%. The mortgage, secured by 40 limited service hotels, was originally scheduled to mature in July 2010. Following this transaction, InnVest's overall interest rate on ... (Wed, 16 Sep 2009 21:08:53 GMT)
One Newspaper Company Finds Salvation In Mortgage Foreclosures
The old saying in the news biz goes: "If it bleeds, it leads." Newspaper publisher Dolan Media has found its own way to profit from the carnage in the mortgage industry. (Wed, 16 Sep 2009 23:03:33 GMT)
Mortgage broking regulation to follow financial planning's lead
Mortgage broking industry likely to adopt a fact finding and Statement of Advice process: Paratore. (Thu, 17 Sep 2009 00:21:05 GMT)
Katene: Student Loan Scheme Amendment Bill
I rise to take a very brief call as the issue of student loan repayment is a significant one, facing the nation. It is a collective challenge, as the mountain of debt is threatened to grow to $15 billion by 2014. (Thu, 17 Sep 2009 01:46:29 GMT)
SRA unveils mortgage fraud probe
The Solicitors Regulation Authority is to examine the role played by solicitors in mortgage fraud as it marshalls its resources to tackle the escalating problem. The SRA claimed its investigations have already led to frauds worth several million pounds being thwarted. Over the next year the SRA’s mortgage fraud project will seek to profile the involvement of solicitors and make recommendations ... (Thu, 17 Sep 2009 02:21:35 GMT)
Speech: Katene - Student Loan Repayment Bonus Bill
I rise to take a very brief call as the issue of student loan repayment is a significant one, facing the nation. It is a collective challenge, as the mountain of debt is threatened to grow to $15 billion by 2014. But as other speakers have pointed out ... (Thu, 17 Sep 2009 02:38:15 GMT)
BNZ claims the lowest floating home loan rate
The Bank of New Zealand has fired its next shot in the battle for the lowest floating rate home loan, announcing cuts of up to 31 basis points on some of its loans. (Thu, 17 Sep 2009 04:07:18 GMT)
Mass. lags on mortgage fraud probes
The number of active mortgage fraud cases in Massachusetts quadrupled from the first to second quarter of 2009, but the Bay State is well behind other states when it comes... (Thu, 17 Sep 2009 04:26:01 GMT)
Loan modifications disappoint homeowners
Thousands of Arizona families are finding home loan modifications are not easing their financial troubles. A nationwide study found 27 percent of modifications in early 2009 ended up with higher - instead of lower - monthly payments. (Thu, 17 Sep 2009 07:24:11 GMT)
Mortgage rationing 'likely to continue'
The mortgage market is unlikely to improve significantly in the short term despite wholesale funding costs falling to a record low commentators say. (Thu, 17 Sep 2009 08:34:59 GMT)
Fenced in
Teresa and Len Horstman have never missed a mortgage payment. They have excellent credit, a six-figure income and more than 30 percent equity in their house. But when they tried to refinance their Galloway home this summer, they were turned down. (Thu, 17 Sep 2009 08:38:47 GMT)
Toxic mortgage assets auctioned off by FDIC
The Federal Deposit Insurance Corp. yesterday named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets. (Thu, 17 Sep 2009 09:25:57 GMT)
State officials arrest mortgage brokers involved in scam
LOS ANGELES – Last week agents with state Attorney General Edmund G. Brown Jr.'s office arrested three people involved in a refinancing scam, some of whom also were involved in a property reassessment scam that was sent out to property owners around Lake County and the rest of the state. (Thu, 17 Sep 2009 09:38:43 GMT)
Mortgage rates edge lower
After the Fed announced it has a slightly optimistic outlook for recovery, mortgage rates dipped. (Thu, 17 Sep 2009 10:00:00 GMT)
Underwater: Keep paying mortgage?
It's not a waste of money to make mortgage payments on a home that is sinking in value. (Thu, 17 Sep 2009 10:00:00 GMT)
Ark. AG heads to Washington to talk mortgage fraud
Arkansas Attorney General Dustin McDaniel is part of a group of 11 attorneys general who will meet with top Cabinet officials to discuss mortgage fraud. (Thu, 17 Sep 2009 10:24:27 GMT)
Low-interest loans offered for Kentwood home repairs
KENTWOOD -- The city Housing Commission is accepting applications for low-interest home rehabilitation loans.... (Thu, 17 Sep 2009 10:55:38 GMT)
Mortgage rates mixed for week
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, 17 Sep 2009 12:43:47 GMT)
Gov't considers crackdown on loan help payments
The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans. Government officials say scammers seeking to take advantage of... Sponsored Topics: Government agency - Mortgage - United States - Business - Government (Thu, 17 Sep 2009 14:45:49 GMT)
Mortgage Rates in U.S. Decline for Third Week, Reaching 5.04%
Sept. 17 (Bloomberg) -- Mortgage rates for 30-year fixed U.S. home loans fell for the third consecutive week amid signs the housing market may be stabilizing and the recession is over. (Thu, 17 Sep 2009 14:50:04 GMT)
Freddie Mac: Fixed Mortgage Rates Decline Again
Freddie Mac: Fixed Mortgage Rates Decline Again (Thu, 17 Sep 2009 14:51:57 GMT)
Mortgage rates edge lower
Mortgage rates were almost flat this week, falling just slightly, despite a declaration by the chairman of the Fed that the recession is probably over. (Thu, 17 Sep 2009 15:42:00 GMT)
30-Year Mortgage Rates Fall to 5.04%
Mortgage rates for 30-year fixed U.S. home loans fell for the third consecutive week, another factor stoking belief that the housing market is poised for a rebound. (Thu, 17 Sep 2009 16:36:27 GMT)
Mortgage rates edge down, still above record lows
(AP:WASHINGTON) Rates for 30-year home loans edged down for the third-straight week and are close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.04 percent, down from 5.07 percent a week earlier, mortgage company Freddie Mac said Thursday. (Thu, 17 Sep 2009 16:46:29 GMT)
Mortgage rates edge down, still above record lows
WASHINGTON (AP) — Rates for 30-year home loans edged down for the third-straight week and are close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.04 percent, down from 5.07 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 attractive for people looking to ... (Thu, 17 Sep 2009 17:16:55 GMT)
Mortgage rates edge down, but remain above record lows
The average rate for a 30-year fixed mortgage was 5.04 percent, down from 5.07 percent a week earlier, mortgage company Freddie Mac said Thursday. (Thu, 17 Sep 2009 17:21:59 GMT)
Caution urged on mortgage rate drop
Top economists are warning potential home buyers to proceed with caution as another bank drops its variable mortgage rate to the lowest in 40 years.BNZ announced yesterday a 0.26 drop in its TotalMoney variable housing rate, making... (Thu, 17 Sep 2009 17:38:22 GMT)
Gov't considers crackdown on loan help payments
The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans. (Thu, 17 Sep 2009 17:58:53 GMT)
The life of a mortgage is long: Choose carefully
According to the Federal Reserve Board, the best way to avoid overpaying for a mortgage is to shop around. (Thu, 17 Sep 2009 18:09:57 GMT)
Gov't considers crackdown on loan help payments
WASHINGTON (AP) — The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans. Government officials say scammers seeking to take advantage of borrowers in danger of default often charge upfront fees of $1,000 to $3,000 for help with loan modifications that rarely ... (Thu, 17 Sep 2009 18:15:32 GMT)
Gov't Considers Crackdown on Loan Help Payments
Regulators consider ban on upfront payments for loan help; file charges against 2 firms (Thu, 17 Sep 2009 18:18:02 GMT)
Positive Changes in U.S. Mortgage Activity
Mortgage rates for 30-year fixed U.S. home loans fell to the lowest since May amid signs the housing market may be stabilizing and the recession is over. (Thu, 17 Sep 2009 18:28:42 GMT)
Banks Profit on Obama Mortgage Plan
Bank mortgage profits surged remarkably once the Obama administration's housing plan was implemented, according to a report on Thursday . (Thu, 17 Sep 2009 18:31:05 GMT)
Home Capital says Canada real estate mkt improving
The chief executive of Home Capital Group Inc , which mainly underwrites residential mortgages, said on Thursday the Canadian real estate market is on the mend. (Thu, 17 Sep 2009 18:44:00 GMT)
Mortgage rates edge down, still above record lows
People looking to buy a home or refinance have an added incentive to do so. (Thu, 17 Sep 2009 19:47:21 GMT)
Good Time To Get Loan -- If You Can Get One
It's a good time to borrow money for a home, car or small business. (Thu, 17 Sep 2009 20:11:01 GMT)
Fed’s Assets Rise to Most Since May on Mortgage-Debt Purchases
Sept. 17 (Bloomberg) -- The Federal Reserve’s balance sheet expanded for a sixth straight week as the central bank purchased housing debt in a program aimed at reducing mortgage rates. (Thu, 17 Sep 2009 21:08:04 GMT)
Dallas-Fort Worth home foreclosure filings jump 34%
Much of the increase is due to loan modification programs, which have carried over foreclosure filings from previous months. (Thu, 17 Sep 2009 21:24:27 GMT)
Mortgage rates decline in week
WASHINGTON, Sept. 17 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages edged lower in the week ended Thursday, the Federal Home Loan Mortgage Corp. said. (Thu, 17 Sep 2009 22:29:05 GMT)
Mortgage rates drop to 5.04 percent
WASHINGTON — Rates for 30-year home loans edged down for the third-straight week and are close to record lows reached over the spring, providing an excellent opportunity for borrowers to save money by refinancing their home loans. (Thu, 17 Sep 2009 22:57:13 GMT)
Consider mortgage brokers in succession plans
There is an opportunity for 10 per cent to 15 per cent of active mortgage brokers to break into the financial planning world. (Fri, 18 Sep 2009 00:22:05 GMT)
Area home foreclosures return to near-record numbers
Lenders are reposting properties even though owners may be approved for loan modifications. (Fri, 18 Sep 2009 02:19:59 GMT)
Home loan affordability deteriorates
Rising house prices and interest rates combined in August to weaken home loan affordability to its worst level in 2009, the BNZ Home Loan Affordability measure shows. (Fri, 18 Sep 2009 02:42:27 GMT)
Mortgage Lender Could Face Fine For Allegedly Operating Without State License
A New Jersey-based mortgage lender alleged to have operated in Connecticut without a license could face a fine of up to $110,000. (Fri, 18 Sep 2009 03:02:20 GMT)
Attorneys General Meet To Tackle Mortgage Rescue Scams
Attorneys general from 12 states, including Connecticut, met with federal regulators and law enforcement officials in Washington Thursday to tackle the growing problem of mortgage rescue scams. (Fri, 18 Sep 2009 03:02:22 GMT)
Efficiency Kansas Loan Program helps residents, small businesses cut utility bills
A new program offering cheap money for energy-saving improvements is rolling out in Kansas. The Efficiency Kansas Loan Program, funded by the federal stimulus package, has started offering 15-year loans to homeowners and small businesses for improvements such as furnaces, air conditioners, insulation and windows that reduce energy usage. (Fri, 18 Sep 2009 03:39:50 GMT)
Bankrate: Jumbo Mortgage Rates Jump
NEW YORK, Sept. 17 /PRNewswire-FirstCall/ -- The average conforming 30-year fixed mortgage rate fell to 5.38 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.32 discount and origination points. (Fri, 18 Sep 2009 04:18:42 GMT)
Lowest since May, mortgage rates again flirt with 5%
The 30-year home loan rate has dipped to a 3-1/2-month low to flirt again with breaking below the 5% level. (Fri, 18 Sep 2009 05:56:09 GMT)
Hong Kong central banker sounds home-loan alarm
Hong Kong monetary authorities warn banks that current aggressive lending practices for residential mortgages are leaving them exposed to increased risks. (Fri, 18 Sep 2009 06:30:40 GMT)
ACORN's Illegal Alien Home Loan Racket
There's one thing more shocking than the illegal alien smuggling advice that an ACORN official in San Diego gave undercover journalists James O'Keefe and Hannah Giles. It's the illegal alien home loan racket that ACORN has already been operating with the full knowledge of the U.S. government. (Fri, 18 Sep 2009 07:00:00 GMT)
30-year mortgage rates drop to 5.04%
WASHINGTON — Rates for 30-year home loans edged down for the third straight week and are close to record lows reached over the spring, providing an excellent opportunity for borrowers to save money by refinancing their home loans. (Fri, 18 Sep 2009 07:02:40 GMT)
Kremlin Mortgage Goal ‘Out Of Reach’
When President Dmitry Medvedev laid out his ideal for mortgage lending last month, with banks “gladly giving out loans at 6 to 7 percent,” he was speaking to a receptive audience: workers at an airplane plant in Ulan-Ude. (Fri, 18 Sep 2009 08:23:36 GMT)
Mortgage rates near record low
WASHINGTON (AP) — Rates for 30-year home loans edged down for the third straight week and are close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.04 percent, down from 5.07 percent a week earlier, mortgage company Freddie Mac said Thursday. (Fri, 18 Sep 2009 08:51:41 GMT)
Summertime dip in mortgage lending
Mortgage lending fell by 13 per cent during August as the market suffered its usual seasonal dip, figures showed today. (Fri, 18 Sep 2009 09:02:40 GMT)
Summer drop in mortgage lending
UK mortgage lending shows a drop during August as the Council of Mortgage Lenders says that lenders remain 'prudent'. (Fri, 18 Sep 2009 09:04:06 GMT)
U.K. Six-Bank Mortgage Approvals Rise to 2009 High (Update1)
Sept. 18 (Bloomberg) -- U.K. mortgage approvals by the nation’s six biggest banks increased for a seventh month in August to the highest level this year, a sign the housing-market slump is easing. (Fri, 18 Sep 2009 09:08:11 GMT)
FTC files charges of fraud against home loan service
The Federal Trade Commission has filed fraud charges against a San Marcos company for allegedly offering to help modify homeowners' loans if they pay up to $3,000 for a service that is usually free. (Fri, 18 Sep 2009 09:10:56 GMT)
DATA SNAP:CML:UK Aug Gross Mortgage Lending -13% At GBP12.6 Billion
LONDON -(Dow Jones)- U.K. gross mortgage lending in August was 13% lower than in July, the Council of Mortgage Lenders said Friday. (Fri, 18 Sep 2009 09:19:40 GMT)
Mortgage lending drops amid warnings it will remain 'subdued'
Mortgage lending dropped last month and is likely to remain subdued as borrowers still struggle to find affordable deals. (Fri, 18 Sep 2009 09:34:59 GMT)
US rates on 30-year loans drop to 5.04%
A US mortgage company says rates for 30-year home loans edged down for the third-straight week, providing an opportunity for borrowers to refinance their loans. (Fri, 18 Sep 2009 09:48:40 GMT)
Mortgage lending down 37 pct y/y in Aug -CML
Gross mortgage lending fell 37 percent year-on-year to 12.6 billion pounds in August, the Council of Mortgage Lenders said on Friday. (Fri, 18 Sep 2009 09:55:00 GMT)
Mortgage rates down, experts say now's the time to buy a home or refinance
WASHINGTON -- People looking to buy a home or refinance have an added incentive to do so. Rates for 30-year home loans have edged down for the third-straight week and are close to the record lows that were reached over the spring. (Fri, 18 Sep 2009 09:56:45 GMT)
Mortgage lending slips in August
LONDON (SHARECAST) - Mortgage lending fell 13% in August, according to the Council of Mortgage Lenders (CML), although experts weren’t surprised as the month often sees a dip. (Fri, 18 Sep 2009 10:20:25 GMT)
ACORN's Illegal Alien Home Loan Racket
http://www.JewishWorldReview.com | There's one thing more shocking than the illegal alien smuggling advice that an ACORN official in San Diego gave undercover journalists James O'Keefe and Hannah Giles. (Fri, 18 Sep 2009 10:42:58 GMT)
BlackRock’s Fink Says Obama Loan Rules Threaten Mortgage Market
Sept. 18 (Bloomberg) -- BlackRock Inc. Chairman Laurence Fink said Obama administration programs to help homeowners stave off foreclosure may hinder the recovery of the mortgage market while benefiting banks that own second loans on the properties. (Fri, 18 Sep 2009 11:15:48 GMT)
UK Gross Mortgage Lending Falls In August
(RTTNews) - Gross mortgage lending in the UK totaled GBP 12.6 billion in August, down 13% month-on-month, the Council of Mortgage Lenders said Friday. In July, lending totaled GBP 14.5 billion. Compared to the previous year, lending dropped 37% in August. (Fri, 18 Sep 2009 11:45:15 GMT)
Realty Q&A: Clearing up home buyer tax-credit confusion
I am very close to purchasing a condo with an FHA loan. I am a first-time buyer. How do I apply the credit towards my closing costs and down payment? Is there an IRS form I need to download? What are the steps to apply it to my closing costs? (Fri, 18 Sep 2009 12:07:54 GMT)
Johnson rules out loan swoop
Bristol City manager Gary Johnson has ruled out entering the loan market to bring in reinforcements to his injury-ravaged squad. (Fri, 18 Sep 2009 12:09:14 GMT)
BlackRock’s Fink Says Obama Loan Rules Threaten Mortgage Market
Sept. 18 (Bloomberg) -- BlackRock Inc. Chairman Laurence Fink said Obama administration programs to help homeowners stave off foreclosure may hinder the recovery of the mortgage market while benefiting banks that own second loans on the properties. (Fri, 18 Sep 2009 12:38:00 GMT)
15-year fixed mortgage rates hit a low
The average rate for a 30-year fixed mortgage this week was 5.04%, down from 5.07% a week earlier, mortgage company Freddie Mac said. (Fri, 18 Sep 2009 12:58:21 GMT)
Mortgage Lending Suffers Summer Slump
Mortgage lending fell by 13% in August as the market suffered its usual seasonal dip, the Council of Mortgage Lenders said. (Fri, 18 Sep 2009 13:02:02 GMT)
Mortgage Lending Suffers Summer Slump
Mortgage lending fell by 13% in August as the market suffered its usual seasonal dip, the Council of Mortgage Lenders says. (Fri, 18 Sep 2009 13:56:27 GMT)
Gov't home loan agency faces cash squeeze
The Federal Housing Administration said Friday that its financial cushion will sink below mandatory levels for the first time in its 75-year history, but officials insisted the agency won't need to be rescued. "Under no circumstance will any taxpayer bailout... Sponsored Topics: Federal Housing Administration - Loan - Business - United States - Financial Services (Fri, 18 Sep 2009 14:00:19 GMT)
LOAN DUO SET TO FACE FOXES
Watford will add loan signings Craig Cathcart and Heidar Helguson to their squad ahead of the home clash against Leicester on Saturday. (Fri, 18 Sep 2009 14:04:16 GMT)
FHA Mortgage Insurance Reserves to Fall Below 2% Rule (Update1)
The FHA isn’t in danger of failing, and the mortgage insurance fund will likely recover on its own within two years without any policy changes, Commissioner David H. Stevens told reporters on a conference call today. FHA is required by Congress to maintain a loan reserve ratio of at least 2 percent. (Fri, 18 Sep 2009 16:59:19 GMT)
Gov't home loan agency faces cash squeeze
The Federal Housing Administration said Friday that its financial cushion will sink below mandatory levels for the first time in its 75-year history, but officials insisted the agency won't need to be rescued. (Fri, 18 Sep 2009 18:04:23 GMT)
ING expects growth in mortgage portfolio (Business Times
ING Insurance Bhd anticipates its total mortgage portfolio to grow this year, backed by its latest fixed-rate home loan that offers the lowest rate. (Fri, 18 Sep 2009 18:51:02 GMT)
Chrysler executive Press sued over unpaid loan
Chrysler executive Jim Press has been sued by a California credit union for failing to repay more than $400,000 on a loan dating back to his stint as chief of Toyota Motor Corp's U.S. operations, court records show. (Fri, 18 Sep 2009 19:07:16 GMT)
National Mortgage Lender Launches Wholesale Lending Division
While many mortgage companies are contracting or shutting down amidst the economic downturn, Total Mortgage is expanding its loan origination platform to include a wholesale lending division. (Fri, 18 Sep 2009 19:24:21 GMT)
US mortgage insurer sounds cash alert
The Federal Housing Administration, the US government mortgage-insurer, warned on Friday that its cash cushion would dip below the limit set by Congress as the savaged housing market puts increasing strain on the fund. (Fri, 18 Sep 2009 20:12:46 GMT)
Gov't home loan agency faces money squeeze
The Federal Housing Administration is tightening rules for lenders after reporting that its financial cushion will sink below mandatory levels for the first time in its 75-year history. (Fri, 18 Sep 2009 21:05:43 GMT)
Wealth Check: 'How can I be free of a mortgage by the time I hit 50?'
Owen Wright, 23, is a graduate doing a PGCE teacher-training course at Oxford. He is single, and would like to be earning £30,000 in six years' time and able to own a nice house without a mortgage by the age of 50. He is worried that high unemployment will lead to fewer taxpayers and, in turn, less money available to pay teachers. (Fri, 18 Sep 2009 23:07:16 GMT)
Mortgage holders urged to fix terms
HOMEOWNERS should fix mortgage rates immediately to avoid getting stung if banks increase interest rates, according to banking analysts. (Sat, 19 Sep 2009 01:30:25 GMT)
IRS Issues Rules To Ease Mortgage Refinancing
The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. (Sat, 19 Sep 2009 02:19:40 GMT)
Feds plan to tinker with mortgage interest reporting
The Government Accountability Office wants lenders to add more details about mortgages on Form 1098, which would make it easier for the IRS to determine whether taxpayers are complying with the rules. Taxpayer problems in complying with the rules are legendary. Homeowners might have to answer up to seven questions just to determine if their mortgage interest is deductible. And that's only "if ... (Sat, 19 Sep 2009 02:38:08 GMT)
Nonprofit mortgage assistance falls short
Thousands of homeowners who attended the Save the Dream event in Columbia six months ago still haven't gotten the lower mortgage payments that Neighborhood Assistance Corp. of America promised it could arrange for most attendees. (Sat, 19 Sep 2009 03:04:16 GMT)
Clinic offers mortgage aid for free
Homeowners struggling to make mortgage payments and those who are worried about foreclosure can get help at a free foreclosure clinic in Conway next week. (Sat, 19 Sep 2009 03:04:16 GMT)
Loan officer admits guilt in mortgage fraud case
A loan officer for a Charlotte mortgage company has agreed to plead guilty in a mortgage fraud operation involving seven pricey Mecklenburg and Union county neighborhoods. (Sat, 19 Sep 2009 04:00:53 GMT)
U.S. home-loan agency faces money squeeze
The Federal Housing Administration is tightening rules for lenders after reporting that its financial cushion will sink below mandatory levels for the first time in its 75-year history. Officials, however, insisted yesterday that the agency won’t need a rescue. “Under no circumstance will any taxpayer bailout be needed,“ said David Stevens, the FHA’s commissioner. (Sat, 19 Sep 2009 04:09:16 GMT)
Experts: Mortgage Numbers Still Down, But Rebounding
It’s hard to find a mortgage banker who doesn’t appreciate the $8,000 first-time homebuyers federal tax credit. The program, set to expire Nov. 30 unl.... (Sat, 19 Sep 2009 05:05:31 GMT)
Mortgage Solutions Releases its New Do It Yourself Loan Modification System, Making it Easier Than Ever for Home ...
Mortgage Solutions has been working on a Do It Yourself Loan Modification Solution for the past few months and has just released a new DIY Loan Modification system, making it easier than ever for a distressed Home Owner to Modify thier own mortgage. (Sat, 19 Sep 2009 07:01:00 GMT)
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