Mortgage News Oct 2009
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Last of 7 charged pleads guilty in mortgage scheme
Associated Press - October 6, 2009 1:55 AM ET SEATTLE (AP) - The U.S. attorney's office in Seattle says the last of 7 people charged in a $47 million mortgage fraud scheme has pleaded guilty in... (Tue, 06 Oct 2009 06:03:08 GMT)
Last of 7 charged pleads guilty in mortgage scheme
The U.S. attorney's office in Seattle says the last of seven people charged in a $47 million mortgage fraud scheme has pleaded guilty in federal court. (Tue, 06 Oct 2009 06:12:01 GMT)
Cleveland Council Approves Flats Development Loan
Cleveland City council last night approved a 30 million dollar loan as part of a public funding package… to restart the stalled development on the East Bank of the Flats. Ideastream's Bill Rice reports. (Tue, 06 Oct 2009 06:36:32 GMT)
Lead Planet Integrates with Mortgage Leads with Leads360
Internet mortgage lead provider, LeadPlanet announces integration services with lead management guru, Leads360. The lead generation company believes that streamlining lead management is a critical part of the equation for success in today's challenging mortgage climate. [PR.com - October 06, 2009] (Tue, 06 Oct 2009 07:05:54 GMT)
Kingston to save thousands because of A+ bond rating
KINGSTON - An A+ from Wall Street financial analysts means extra savings for the municipality. Kingston council voted Monday to refinance the 15-year, $3.15 million 2004 series bond at a lower interest rate, saving the municipality $190,000. That's $25, (Tue, 06 Oct 2009 08:22:29 GMT)
Create DIY mortgage payment plan
If a lender won't agree to a weekly mortgage plan, it's easy to create your own DIY version. (Tue, 06 Oct 2009 10:00:00 GMT)
IBM to buy Bank of America mortgage servicing unit
IBM has signed a deal to buy the core operating assets of Bank of America's mortgage servicing unit Wilshire Credit Corporation. Financial terms of ... (Tue, 06 Oct 2009 10:05:30 GMT)
Yard sale's goal: Save family home from foreclosure
SALISBURY and mdash; The sign being waved along Route 110 is short and direct and not; and mdash; "Save Our Home Yard Sale." The sign is not an overstatement. If Bill and Tabitha Ralston can't raise another $5,000 soon, the Hayes Street home they've owned since 1995 will go up for auction on Oct. 15. (Tue, 06 Oct 2009 10:07:23 GMT)
Firm's Directors Sentenced In Md. Mortgage Fraud
Two top officers from a Maryland financial firm have been sentenced to prison for a multi-million-dollar mortgage fraud scheme. (Tue, 06 Oct 2009 11:13:35 GMT)
Before applying for auto or mortgage loans, do your research
(ARA) - While the number of auto and mortgage loans issued are down, and the effort it takes to get a good loan these days might seem daunting, there are signs that consumer lending is improving with positive economic reports. (Tue, 06 Oct 2009 11:42:29 GMT)
Create DIY mortgage payment plan
Dear Dr. Don, I currently have a mortgage with CitiMortgage and called to find out how I could break my monthly payment into weekly payments. (Tue, 06 Oct 2009 11:43:40 GMT)
National 30-year Fixed Mortgage Rate Falls Below 5.00%; Half of Borrowers Request Refinance Loans
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 4.96 (Tue, 06 Oct 2009 12:00:00 GMT)
Teres Solutions and RateGenius Bring Automated Auto Loan Refinancing to Credit Unions and Financial Institutions
AUSTIN, Texas----Teres Solutions™, Inc., one of the top providers of direct, indirect and merchant lending software to credit unions and financial institutions, today announced it has partnered with RateGenius to integrate the company’s direct-to-consumer auto loan refinancing solution with the Teres Solutions SAIL® lending platform. (Tue, 06 Oct 2009 13:00:00 GMT)
Banks brace for rise in first home owner delinquency
The rush of first home buyers taking advantage of Government cash incentives will result in headaches for banks over the next year as most brace for a surge in customers falling behind in payments. (Tue, 06 Oct 2009 13:24:11 GMT)
Home owners win right to sue banks over controversial mortgages
Home owners have won the right to sue Barclays and Bank of Scotland after they took out controversial mortgages that they claim are unfair. (Tue, 06 Oct 2009 13:57:00 GMT)
Last of 7 charged pleads guilty in mortgage scheme
Viktor Kobzar of Federal Way pleaded guilty Friday to conspiracy to commit bank fraud, mail fraud and wire fraud, and filing a false tax return. (Tue, 06 Oct 2009 13:58:36 GMT)
InterContinental Capital Group Heads West
PHOENIX, Ariz.----InterContinental Capital Group, an established east coast direct mortgage lender, is expanding its operations in western states by opening its first regional office in the Biltmore area of Phoenix. (Tue, 06 Oct 2009 15:16:00 GMT)
Final defendant in $47 million mortgage fraud pleads guilty
The seventh and final defendant in a $47 million mortgage fraud scheme has pleaded guilty to charges that he used "straw buyers" to defraud lending institutions. (Tue, 06 Oct 2009 15:20:43 GMT)
Major lenders cut mortgage rates
Three major lenders cut their mortgage rates today in a further sign that competition is creeping back into the market. (Tue, 06 Oct 2009 15:33:11 GMT)
Last of 7 charged pleads guilty in mortgage scheme
The U.S. attorney's office in Seattle says the last of seven people charged in a $47 million mortgage fraud scheme has pleaded guilty in federal court. (Tue, 06 Oct 2009 15:34:58 GMT)
Major lenders cut mortgage rates
Three major lenders have cut their mortgage rates in a further sign that competition is creeping back into the market. (Tue, 06 Oct 2009 15:41:06 GMT)
Bear mortgage broker gets suspended sentence for failing to file state tax return
A Bear mortgage broker entered a guilty plea Monday in New Castle County Superior Court to tax charges filed by the State of Delaware. (Tue, 06 Oct 2009 15:51:24 GMT)
No loan, no problem: Builder perseveres with Parkland project
Centerline Homes hosts a grand opening this weekend for Parkland Reserve, a 168-home community off the Sawgrass Expressway in Parkland. The builder has 70 signed contracts and nine completed sales so far. (Tue, 06 Oct 2009 16:52:58 GMT)
California Hotel Foreclosures Triple in Travel Slump (Update1)
Oct. 6 (Bloomberg) -- Hotel foreclosures in California more than tripled in the first nine months of this year as business travelers and vacationers cut spending. (Tue, 06 Oct 2009 17:59:22 GMT)
Bass Buys Mortgages, Metals on Hyperinflation Fear (Update2)
Oct. 6 (Bloomberg) -- Kyle Bass , the hedge-fund manager who made $500 million in 2007 betting against subprime securities, is buying shorter-term debt and precious metals, anticipating hyperinflation will lead to higher interest rates. (Tue, 06 Oct 2009 18:36:37 GMT)
'Makeover' home left Gilbert family with extreme expenses
After the ''Extreme'' cameras went away, the Okvaths struggled to pay bills for dream home. (Tue, 06 Oct 2009 18:49:51 GMT)
Ask the RealtorPricing your home and placing the best offer
In the past 2 weeks I have submitted an offer on 2 homes and both times I did not get the home. My Realtor told me there were multiple offers. I am beginning to think that she is not working in my best interest as I cannot understand why in this market I would lose 2 homes. Is there a way to make my offers better than the others coming in and shouldn't my Realtor work harder to be sure I get a ... (Tue, 06 Oct 2009 19:02:18 GMT)
Arizonaâs prisons could be sold to raise cash
Before any of Arizona’s state prisons are sold, a certain amount of red tape must be cut. (Tue, 06 Oct 2009 19:23:47 GMT)
National 30-year Fixed Mortgage Rate Falls Below 5.00%; Half of Borrowers Request Refinance Loans
RISMEDIA, October 7, 2009—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 4.96%, down from 5.02% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell to 4.39% ... (Tue, 06 Oct 2009 20:34:03 GMT)
Fremont Marriott hotel in mortgage default, but open for business
FREMONT — A prominent Bay Area hotel, the Fremont Marriott Silicon Valley, has flopped into a $38 million-plus mortgage default, brutalized by a sour economy and feeble lodging market. (Tue, 06 Oct 2009 20:57:08 GMT)
Santa Clara County Association of REALTORS(R) Encourages Consumers to Find Legitimate Professionals for Loan ...
As home loan delinquencies, defaults, and foreclosures continue to occur, the Santa Clara County Association of REALTORS® urges homeowners who hope to modify the terms of their mortgage to work with a legitimate professional with relevant expertise. (Tue, 06 Oct 2009 21:40:00 GMT)
Mortgage rates cut by Rock and the Woolwich
Northern Rock yesterday slashed mortgage rates in a move experts said could inject further life into the housing market. (Tue, 06 Oct 2009 23:07:05 GMT)
Full service mortgage brokers tap into wealth accumulators
A preference for dealing with high-net-worth clients may see some financial planners miss out on securing the valuable next generation of clients, particularly if mortgage broking groups position themselves to provide advice in the wealth accumulation space. (Tue, 06 Oct 2009 23:21:25 GMT)
Hong Kong Mortgage Rates May Start Rising Mid-2010, HSBC Says
Oct. 7 (Bloomberg) -- Hong Kong’s mortgage rates, at their lowest in at least 19 years, may begin rising in the middle of next year, according to the head of the city’s second-biggest mortgage lender. (Tue, 06 Oct 2009 23:45:44 GMT)
Demand for home loans eases slightly
DEMAND for home loans eased for a second straight month in August, coming off the boil even before Tuesday's first official interest rate rise in 19 months. (Wed, 07 Oct 2009 00:36:00 GMT)
Demand for home loans eases
DEMAND for home loans has eased for a second straight month, coming off the boil even before yesterday's RBA interest rate rise. (Wed, 07 Oct 2009 00:51:36 GMT)
Hong Kong Mortgage Rates May Start Rising Mid-2010, HSBC Says
Oct. 7 (Bloomberg) -- Hong Kong’s mortgage rates, at their lowest in at least 19 years, may begin rising in the middle of next year, according to the head of the city’s second-biggest home-loan provider. (Wed, 07 Oct 2009 01:34:58 GMT)
Demand for home loans eases
Demand for home loans eased for a second straight month in August, coming off the boil even before Tuesday's first official interest rate rise in 19 months. (Wed, 07 Oct 2009 01:53:51 GMT)
Australian Home-Loan Approvals Drop for Second Month (Update2)
Oct. 7 (Bloomberg) -- Australian home-loan approvals fell in August for a second straight month as demand from first-time house buyers cooled. (Wed, 07 Oct 2009 01:54:32 GMT)
Abuses found in reverse-mortgage marketing
Reverse mortgages, which let seniors cash out home equity, have the potential to spawn another subprime-style financial crisis, according to a report released today. "We're seeing some of the same types of abuses that happened in the subprime market -... (Wed, 07 Oct 2009 02:30:19 GMT)
Teres Solutions and RateGenius Bring Automated Auto Loan Refinancing to Credit Unions and Financial Institutions
AUSTIN, Texas--Teres Solutions™, Inc., one of the top providers of direct, indirect and merchant lending software to credit unions and financial institutions, today announced it has partnered with RateGenius to integrate the company’s direct-to-consumer auto loan refinancing solution with the Teres Solutions SAIL® lending platform. (Wed, 07 Oct 2009 03:25:43 GMT)
Debate on consumer protection - Our view: How the banking lobby tries to undermine loan reform
Our view on consumer protection: How the banking lobby tries to undermine loan reform New financial watchdog could curb abusive practices, limit fine print. In Washington, it's always easier to kill a new idea than to promote one. And that's... (Wed, 07 Oct 2009 04:22:00 GMT)
Fannie, Freddie plan to aid mortgage banks: report
U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter. (Wed, 07 Oct 2009 05:05:33 GMT)
Murrieta City Council approves loan for low-income homeowner
Murrieta officials threw a low-income resident a lifeline Tuesday, unanimously approving a $14,000 loan to help that condominium owner pay off a tax that nearly forced them into foreclosure. (Wed, 07 Oct 2009 05:44:57 GMT)
Television advert ban for loan company offering interest rate of 2300 per cent
A television advert for a loan company has been banned after it failed to mention that customers could be hit with an interest rate of more than 2300 per cent. (Wed, 07 Oct 2009 06:03:57 GMT)
Fixed loan users 'fall before rate rise'
Home buyers locking in their mortgage repayment levels against future rate rises became an even smaller minority before the latest rate increase, data shows. (Wed, 07 Oct 2009 06:24:51 GMT)
Hong Kong Mortgage Rates May Start Rising Mid-2010, HSBC Says
Oct. 7 (Bloomberg) -- Hong Kong’s mortgage rates, at their lowest in at least 19 years, may begin rising in the middle of next year, according to the head of the city’s second-biggest home-loan provider. (Wed, 07 Oct 2009 06:52:47 GMT)
Banks keep families guessing
A DAY after the Reserve Bank raised the official cash rate, homeowners are still anxiously waiting to see what effect it will have on repayments. (Wed, 07 Oct 2009 07:30:00 GMT)
Abuses found in reverse-mortgage marketing
Reverse mortgages, which let seniors cash out home equity, have the potential to spawn another subprime-style financial crisis, according to a report released Tuesday. "We're seeing some of the same types of abuses that happened in the subprime market -... Sponsored Topics: Reverse mortgage - Home equity - Subprime lending - Loan - Mortgage (Wed, 07 Oct 2009 07:45:09 GMT)
PRESS RELEASE: Fitch Reviews Assumptions for Covered Bonds Secured By Commercial Mortgage Loans
Fitch Ratings-London/Frankfurt-07 October 2009: Fitch Ratings has kept or placed the mortgage covered bonds of nine German banks "Under Analysis" as it reviews its assumptions for assessing the credit quality of commercial mortgage loans in the respective cover pools. (Wed, 07 Oct 2009 09:04:45 GMT)
PRESS RELEASE: Fitch Affirms Ratings of Covered Bonds Issued Under 17 Programmes; 11 Remain Under Analysis
Fitch Ratings-London/Frankfurt-07 October 2009: Fitch Ratings has today affirmed the ratings of the covered bonds issued under 17 programmes related to 16 issuers which had been under analysis since 7 July 2009 pending the implementation of the agency's new refinancing cost assumptions. (Wed, 07 Oct 2009 09:18:41 GMT)
Fannie, Freddie Aid Mortgage Banks: Report
Fannie Mae and Freddie Mac are in the process of introducing a program that will help independent mortgage banks acquire short-term credit for financing home loans, a report says. (Wed, 07 Oct 2009 09:19:28 GMT)
Fannie and Freddie Said to Plan Mortgage Bank Aid
Freddie Mac and Fannie Mae , the U.S. government-controlled mortgage finance companies, are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, The Wall Street Journal reported, citing people familiar with the matter. (Wed, 07 Oct 2009 10:15:58 GMT)
Report: Fannie, Freddie Plan to Aid Mortgage Banks
Report: Fannie, Freddie Plan to Aid Mortgage Banks (Wed, 07 Oct 2009 10:57:19 GMT)
U.S. mortgage applications at 4-month high
U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday. (Wed, 07 Oct 2009 11:04:49 GMT)
Week-to-week mortgage applications up 16.4%: MBA
More mortgage applicants are rushing to lock in attractive sub-5% rates on 30- and 15-year fixed-rate home loans, the latest data compiled by the Mortgage Bankers Association show. The group says the average rate on 30-year fixed-rate mortgages has now been below the 5% mark for three consecutive week, and the latest rate on 15-year mortgages -- 4.32% -- is the lowest since it began conducting ... (Wed, 07 Oct 2009 11:15:50 GMT)
U.S. MBA Mortgage Applications Index Rose 16 Percent Last Week
Oct. 7 (Bloomberg) -- Mortgage applications in the U.S. rose last week to the highest level since May as near record- low borrowing costs boosted refinancing and sent purchases to a 10-month high. (Wed, 07 Oct 2009 11:36:43 GMT)
Mortgage applications at 4-month high as rates fall
Mortgage applications surged last week to their highest level since mid-May as consumers sought to take advantage of the lowest interest rates in months, The Mortgage Bankers Association said Wednesday. (Wed, 07 Oct 2009 12:40:27 GMT)
U.S. MBA Mortgage Applications Index Rose 16 Percent Last Week
Oct. 7 (Bloomberg) -- Mortgage applications in the U.S. rose last week to the highest level since May as near record- low borrowing costs boosted refinancing and sent purchases to a 10-month high. (Wed, 07 Oct 2009 12:41:56 GMT)
NAB gets green light for Challenger home loan deal
NATIONAL AUSTRALIA BANK will move quickly to complete its acquisition of Challenger Financial Group's mortgage management business after the competition watchdog removed one of the last significant regulatory hurdles confronting the $385 million deal. (Wed, 07 Oct 2009 13:12:53 GMT)
Mortgage applications surge to 4-month high
U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday. (Wed, 07 Oct 2009 13:53:27 GMT)
Unspoken Risk of Second Mortgage Meltdown: Today's Outrage
Here we go again with all the regulatory silence and wishful thinking by banks that preceded the first mortgage meltdown. Meltdown part II could be in the making as defaults rise in the commercial real estate sector. (Wed, 07 Oct 2009 14:01:26 GMT)
Mortgage applications jump
Mortgage applications surged last week as interest rates on home loans remained low, an industry group said Wednesday. (Wed, 07 Oct 2009 14:06:24 GMT)
Mortgage Applications At 4-Month High; Rates Fall
National mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed Wednesday. (Wed, 07 Oct 2009 14:16:06 GMT)
Latvia Mortgage Proposal Isn’t Linked to Lats, Government Says
Oct. 7 (Bloomberg) -- A proposal by Latvian Prime Minister Valdis Dombrovskis to cap mortgage holders’ liability, which would limit losses in the event of a devaluation, has nothing to do with the currency, the premier’s spokeswoman said. (Wed, 07 Oct 2009 14:29:43 GMT)
Miami leads nation in home-loan delinquency
A quarter of all home loans in the Miami area were 90 days or more past due in August, a significant distress signal as depressed home prices and high unemployment kept homeowners under pressure. (Wed, 07 Oct 2009 14:44:09 GMT)
SBA Disaster Loan Outreach Centers Close for Holiday; Urges Return of Disaster Loan Applications Before October 13
FRANKFORT, Ky.----The two SBA Disaster Loan Outreach Centers in Louisville will be closed on Monday, October 12 in observance of the federal holiday. Both offices will reopen on Tuesday, October 13 and cease operations at the close of business on Thursday, October 15, 2009. (Wed, 07 Oct 2009 15:34:00 GMT)
Free loan clinics offered through chamber, SBA
The chamber, along with the Small Business Administration, is sponsoring two SBA Loan Clinics. After a business plan, the next step is to attend this free clinic on Oct. 14 from 5:30 to 7:30 p.m. and again on Nov. 4 from 5:30 to 7:30 pm. (Wed, 07 Oct 2009 15:54:49 GMT)
Latvia ‘on the Edge’ After Mortgage Plan, Cicero’s Oates Says
Oct. 7 (Bloomberg) -- Latvia’s plan to limit mortgage holders’ liability has damaged the Baltic country’s chances of convincing investors it can meet the terms of its bailout and avoid a devaluation, said James Oates , chief executive officer of investment company Cicero Capital. (Wed, 07 Oct 2009 16:45:05 GMT)
Mortgage activity rises in week
WASHINGTON, Oct. 7 (UPI) -- The volume of applications for U.S. mortgages increased 16.4 percent last week as interest rates fell, an industry trade group said. (Wed, 07 Oct 2009 18:14:05 GMT)
Mortgage rate falls below 5 percent
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 4.96 percent, down from 5.02 percent the week prior, according to the mortgage tracker. Rates for 15-year fixed mortgages fell to 4.39 percent from 4.42 percent, and adjustable rate mortgages fell to 3.85 percent, down from 3.94 the week prior. ... (Wed, 07 Oct 2009 18:49:24 GMT)
Interest on home loan dips further
CHENNAI: An interest rate war is brewing in the home loan segment this festive season. Development Credit Bank (DCB) and GIC Housing are offering home loans below the psychological 8% level. (Wed, 07 Oct 2009 19:08:52 GMT)
Mortgage rates below 5 percent fuel re-fi boom
Every dollar counts in this economy. Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. (Wed, 07 Oct 2009 19:58:26 GMT)
Mortgage rates below 5 percent fuel re-fi boom
Every dollar counts in this economy. (Wed, 07 Oct 2009 19:58:26 GMT)
CME Lumber Review: Traders Ignore Mortgage Data
KANSAS CITY (Dow Jones)--Chicago Mercantile Exchange lumber futures traders Wednesday ignored a 16.4% rise in mortgage loan applications and took prices to new contract lows. (Wed, 07 Oct 2009 20:03:58 GMT)
Mortgage rates below 5 percent fuel re-fi boom
Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. (Wed, 07 Oct 2009 20:08:15 GMT)
Mortgage applications jump
Mortgage loan applicatoins rose 16.4 percent last week, while applications to refinance jumped 18.2 percent, the Mortgage Bankers Association reported. (Wed, 07 Oct 2009 20:20:26 GMT)
Mortgage rates below 5 percent fuel re-finance boom
ASSOCIATED PRESS Every dollar counts in this economy. Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. Refinance applications climbed 18 percent from the previous week, the Mortgage Bankers Association reported Wednesday, as rates on 30-year home loans dropped to their lowest level in four months to 4.89 percent ... (Wed, 07 Oct 2009 21:01:08 GMT)
Latvia ‘on the Edge’ After Mortgage Plan, Cicero’s Oates Says
Oct. 7 (Bloomberg) -- Latvia’s plan to limit mortgage holders’ liability has damaged the Baltic country’s chances of convincing investors it can meet the terms of its bailout and avoid a devaluation, said James Oates , chief executive officer of investment company Cicero Capital. (Wed, 07 Oct 2009 21:14:32 GMT)
Pag-IBIG Fund OKs loan payment moratorium
Vice President Noli de Castro has announced a three-month moratorium on loan payments to the Home Development Mutual Fund, better known as Pag-IBIG Fund, as additional relief assistance for members whose homes were damaged by Tropical Storm “Ondoy” (international codename: Ketsana). (Wed, 07 Oct 2009 21:51:18 GMT)
Home loan drop off 'to be expected'
Tasmania's Housing Industry Association (HIA) is not overly worried by a drop in new home lending. (Wed, 07 Oct 2009 21:51:45 GMT)
Low mortgage rates fuel refinancing boom
Every dollar counts in this economy.Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. (Wed, 07 Oct 2009 21:57:13 GMT)
Mortgage rates below 5 percent fuel re-fi boom
Every dollar counts in this economy. Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. Refinance applications climbed 18 percent from the previous week, the Mortgage Bankers... Sponsored Topics: Mortgage - Refinancing - Interest rate - Business - Financial Services (Wed, 07 Oct 2009 22:45:59 GMT)
Mortgage Meltdown author Whitney Tilson to speak in Key Biscayne
Investor and market analyst Whitney Tilson, author of Mortgage Meltdown: 6 Ways to Profit in These Bad Times, will host a meeting Thursday to discuss his analyses of the housing and economic crises and the value-investing philosophy. (Wed, 07 Oct 2009 23:27:08 GMT)
ANZ raises home loan rates
ANZ bank is raising its standard variable home loan rate by 25 basis points in response to the Reserve Bank's official rate rise. (Thu, 08 Oct 2009 01:25:42 GMT)
ANZ lifts home loan interest rate
ANZ has become the first of Australia's major banks to pass on the RBA's 25-point rise on its variable mortgage interest rate. (Thu, 08 Oct 2009 02:06:51 GMT)
Mortgage Servicing Firms Have Met Administration's Goals: Source
Mortgage servicing companies are expected to report Thursday that they have started trial mortgage modifications for about 500,000 struggling homeowners under the Obama Administration’s foreclosure prevention program, achieving an Administration goal a month ahead of schedule. (Thu, 08 Oct 2009 02:10:49 GMT)
NAB increases home loan rates
NAB is the latest bank to pass on the Reserve Bank's interest rate hike, lifting its home loan rates by 25 basis points. (Thu, 08 Oct 2009 03:26:00 GMT)
Mortgage rates below 5 percent fuel refinancing boom
Refinance applications climbed 18 percent from the previous week, the Mortgage Bankers Association reported Wednesday, as rates on 30-year home loans dropped to their lowest level in four months to 4.89 percent. (Thu, 08 Oct 2009 03:34:35 GMT)
Mortgage rates below 5% fuel refinance boom
Every dollar counts in this economy. (Thu, 08 Oct 2009 04:03:17 GMT)
(AFX UK Focus) 2009-10-08 05:38 UPDATE 1-Australia's ANZ, NAB raise home-loan rates
SYDNEY, Oct 8 (Reuters) - Two of Australia's major home lenders, Australia and New Zealand Banking Corp and National Australia Bank, raised mortgage rates on Thursday, passing on this week's official rate hike in full. The big four commercial banks, which also include Westpac Banking Corp and Commonwealth Bank of Australia , are under political pressure to pass on no more than the 25 basis ... (Thu, 08 Oct 2009 05:13:25 GMT)
Big banks lift home loan rates
AUSTRALIA'S biggest banks have announced they will follow the Reserve Bank's lead and increase their home loan interest rates by 25 basis points. (Thu, 08 Oct 2009 05:47:00 GMT)
Drop in mortgage rates spurs refinancing
When Dawn Williams closes Friday on the deal to refinance her home, she'll be saving more than $100 a month on her mortgage. (Thu, 08 Oct 2009 07:05:40 GMT)
"Making Home Affordable Programs" Have Slow Start Caused by Confusion of Loan Modification Laws Between Tax Payers and ...
Banks and Taxpayers blame the confusion and constant change of the States' different Loan Modifications Laws for the "Making Home Affordable Programs" thus far a unsuccessful start. Banks and Financial Institutions are having difficulty training employees to process the loan modification requests in light of these new Loan Modification Laws. Taxpayers are also having difficulty keeping up with ... (Thu, 08 Oct 2009 07:05:56 GMT)
JPMorgan, Goldman Seek Profit Amid Mortgage Insurer ‘Distress’
Oct. 8 (Bloomberg) -- JPMorgan Chase & Co. and Goldman Sachs Group Inc. are investors in a firm that agreed to buy assets and hire workers from money-losing mortgage insurer Triad Guaranty Inc. (Thu, 08 Oct 2009 07:22:12 GMT)
As mortgage rates fall, more people refinance
Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. (Thu, 08 Oct 2009 07:26:04 GMT)
Homeowners scramble to refinance mortgages
Every dollar counts in this economy. Homeowners hustled last week to refinance their mortgages after interest rates fell below 5% for the first time since May. Refinance applications climbed 18% from the previous week, the Mortgage Bankers Association reported Wednesday, as rates on 30-year home loans dropped to their lowest level in four months to 4.89%. (Thu, 08 Oct 2009 07:34:20 GMT)
Loan officer gets prison, probation
A former mortgage loan officer's new home will have bars on the windows. (Thu, 08 Oct 2009 09:06:39 GMT)
Mortgage rates fuel refinancing boom
Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. (Thu, 08 Oct 2009 09:55:30 GMT)
What to do when your mortgage is rejected
Your mortgage application has been rejected. Fear not: Here are some tips to deal with it. (Thu, 08 Oct 2009 10:00:00 GMT)
Mortgage Crisis Shuffles Toward Fancier Locales
A super-prime mortgage crisis? Payments will rocket upwards on millions of well-off mortgage holders. (Thu, 08 Oct 2009 10:15:18 GMT)
Latvia ‘on the Edge’ After Mortgage Plan, Oates Says (Update1)
Oct. 8 (Bloomberg) -- Latvia’s plan to cap mortgage holders’ liability has damaged the Baltic state’s chances of convincing investors it can meet the terms of its bailout and avoid a devaluation, said James Oates , chief executive officer of investment company Cicero Capital. (Thu, 08 Oct 2009 10:22:05 GMT)
Mortgage rates fall below 5% :Rate triggers boom in refinancing.
Every dollar counts in this economy. (Thu, 08 Oct 2009 11:04:14 GMT)
Low rates lead to mortgage shift
An estimated 100,000 people a month are benefiting from a drop in their mortgage bills as interest rates remain low. (Thu, 08 Oct 2009 12:05:35 GMT)
Mortgage holders in refinancing mood
With every dollar being counted in US households, homeowners have been refinancing their mortgages. (Thu, 08 Oct 2009 12:46:15 GMT)
JPMorgan, Goldman Seek Profit Amid Mortgage Insurer ‘Distress’
Oct. 8 (Bloomberg) -- JPMorgan Chase & Co. and Goldman Sachs Group Inc. are investors in a firm that agreed to buy assets and hire workers from money-losing mortgage insurer Triad Guaranty Inc. (Thu, 08 Oct 2009 12:52:56 GMT)
Some things to consider before you refinance
WASHINGTON - Don't look now but mortgage rates are really, really low — practically at record low levels. Homeowners who still have adequate equity might want to jump on this and refinance one more ... (Thu, 08 Oct 2009 13:24:30 GMT)
Mortgage rates below 5 percent fuel refinancing boom
Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. Refinance applications climbed 18 percent from the previous week, the Mortgage Bankers Association said Wednesday, as rates on 30-year home loans dropped to 4.89 percent, their lowest level in four months. (Thu, 08 Oct 2009 13:27:06 GMT)
Mortgage modification program ahead of schedule, White House says
The $75-billion Making Home Affordable program, after a fitful start, has helped 500,000 borrowers get their payments lowered, the administration says. The Obama administration today said its much-criticized program to help homeowners avoid foreclosure had met its initial target of 500,000 trial mortgage modifications about a month ahead of schedule, touting the news as a sign the effort is ... (Thu, 08 Oct 2009 15:19:12 GMT)
Freddie Mac: 30-yr Mortgage Average Still Falling
Freddie Mac: 30-yr Mortgage Average Still Falling (Thu, 08 Oct 2009 15:26:09 GMT)
(AFX UK Focus) 2009-10-08 16:19 REFILE-Geithner says loan modifications progam accelerating
WASHINGTON, Oct 8 (Reuters) - Some half million American families are now participating in a home loan modification program initiated by the Obama administration to try to slow the rate of foreclosures, Treasury Secretary Timothy Geithner said on Thursday. In a telephone call with selected reporters ahead of release of a regular report on the program, he said about 40 percent of those eligible ... (Thu, 08 Oct 2009 15:26:48 GMT)
Mortgage rates at or near record lows
WASHINGTON, Oct. 8 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell in the week, remaining below 5 percent, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 08 Oct 2009 15:44:05 GMT)
Mortgage Rates in U.S. Fall to 4.87%, Freddie Says (Update2)
Oct. 8 (Bloomberg) -- Mortgage rates for 30-year fixed U.S. home loans fell for the second consecutive week, pushing borrowing costs to near record lows. (Thu, 08 Oct 2009 15:46:59 GMT)
Mortgage rates remain below 5 percent
Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday. (Thu, 08 Oct 2009 15:59:58 GMT)
Mortgage rates remain below 5 percent
Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage was 4.87 percent, down from 4.94 percent last week, Freddie... Sponsored Topics: Mortgage - Freddie Mac - Fixed rate mortgage - Business - Refinancing (Thu, 08 Oct 2009 16:16:09 GMT)
Obama mortgage modification relief program hits 500,000 goal early
The Obama administration said Thursday that 500,000 homeowners have had their loans modified under its mortgage relief plan, reaching a goal set over the summer. (Thu, 08 Oct 2009 16:37:49 GMT)
Mortgage rates rush to refinance
By J.W. ELPHINSTONE The Associated Press Every dollar counts in this economy. Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May. (Thu, 08 Oct 2009 16:41:23 GMT)
Obama Claims Progress on Mortgage Mess
Though critics say it's too little, US claims mortgage modification progress. (Thu, 08 Oct 2009 18:02:20 GMT)
(AFX UK Focus) 2009-10-08 19:01 US GOVTS: Treasury Says 500K+ Trial Loan Mods In Progress
Washington, Oct 08 2009 (IFR) - The Treasury Department and the Housing and Urban Development (HUD) Department today announced that more than 500,000 trial loan modifications are currently under way through the Making Home Affordable (MHA) program (Thu, 08 Oct 2009 18:28:38 GMT)
500,000 helped by Obama mortgage rescue
Loan servicing companies have put 500,000 troubled borrowers into trial mortgage modifications, the Obama administration said Thursday. (Thu, 08 Oct 2009 18:36:14 GMT)
Treasury Hails Milestone in Home Loan Modifications
Half a million troubled homeowners have seen their loan payments lowered under an Obama administration program. (Thu, 08 Oct 2009 19:42:19 GMT)
Mortgage Rates Continue to Ease
Long-term mortgage rates drop for the fourth straight week, approaching their lowest levels since record-keeping began in 1971, Freddie Mac says. (Thu, 08 Oct 2009 21:30:45 GMT)
Goldman Gives Loan to Stoke Commercial Mortgage Bonds (Update1)
Oct. 8 (Bloomberg) -- Developers Diversified Realty Corp. , an Ohio real estate company, received a $400 million loan from a Goldman Sachs Group Inc. unit in a possible first step toward restarting the commercial-mortgage bond market. (Thu, 08 Oct 2009 21:55:04 GMT)
Feds bust $9M mortgage scam
Federal prosecutors today foreclosed on a $9 million mortgage scam, busting a dozen brokers, loan officers and attorneys who used fake identities and false documents to buy a string of properties in New York and Long Island. Using fake drivers licens... (Thu, 08 Oct 2009 23:27:24 GMT)
Mortgage rates decline
Average rates for 30-year home loans stayed below 5 percent for the second consecutive week, kick-starting refinancing activity, Freddie Mac said. (Thu, 08 Oct 2009 23:46:08 GMT)
Ex-teacher on trial for sex crimes once gave student car loan, complainant testifies
A former Kenner Collegiate teacher on trial for a slew of sex-related crimes once had three teenage males living at his home and gave a male student a hefty car loan, court heard Thursday.[...] (Thu, 08 Oct 2009 23:50:44 GMT)
Australia Mortgage Bond Freeze Aids Top Banks as Lenders Falter
Oct. 9 (Bloomberg) -- Australia’s small mortgage lenders are losing market share to the nation’s four biggest banks as they struggle to fund themselves with bonds backed by home loans. (Fri, 09 Oct 2009 01:58:11 GMT)
Mortgage modification program hits target early
Reaching the 500,000 mark shows that Making Home Affordable plan is working, Obama administration says -- The Obama administration said Thursday that its much-criticized program to help homeowners avoid foreclosure had met its initial target of 500,000 trial mortgage modifications about a month ahead of schedule, touting the news as a sign the effort is gaining momentum. (Fri, 09 Oct 2009 02:45:47 GMT)
Watchdog Doubts Obama Mortgage Plan
Administration effort to help millions of homeowners avoid foreclosure may simply delay mortgage defaults for many • Bernanke: No Reason to Boost Interest Rates Now • 'It's Unemployment, Stupid' Potential 2010 GOP Slogan • LIVESHOTS: Big Box Stores | Retail Jobs | Hospitals (Fri, 09 Oct 2009 04:47:53 GMT)
PhillyDeals: What to do about home loans and government involvement
'We as a nation need to ask and answer some hard questions about what we want out of our housing-finance system," Edward J. DeMarco, acting boss of the agency that regulates Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, told the Senate Banking Committee yesterday. (Fri, 09 Oct 2009 06:00:00 GMT)
Australia Mortgage Bond Freeze Aids Top Four Banks (Update1)
Oct. 9 (Bloomberg) -- Australia’s small mortgage lenders are losing market share to the nation’s four biggest banks as they struggle to fund themselves with bonds backed by home loans. (Fri, 09 Oct 2009 06:12:52 GMT)
Ex-teacher on trial for sex crimes once gave student car loan, complainant testifies
A former Kenner Collegiate teacher on trial for a slew of sex-related crimes once had three teenage males living at his home and gave a male student a hefty car loan, court heard Thursday.[...] (Fri, 09 Oct 2009 08:38:15 GMT)
Home loan relief difficult to find
The federal mortgage relief program continues to encounter challenges in Nevada, even as the Obama administration announced Thursday that it has helped 500,000 homeowners nationwide. (Fri, 09 Oct 2009 08:51:20 GMT)
Mortgage relief on track, administration says
The Obama administration said Thursday that its mortgage relief effort has helped 500,000 homeowners, and officials maintain the program is on track despite its disappointing launch. The $50 billion program, started in March, is designed to reduce foreclosures by lowering borrowers' monthly payments to more affordable levels. The government still forecasts the program will help between 3 million ... (Fri, 09 Oct 2009 09:06:10 GMT)
Mortgage rates remain below 5 percent
McLEAN, Va. (AP) — Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage was 4.87 percent, down from 4.94 percent last week, Freddie Mac said. The last time rates for 30-year home loans were lower was the week ending May 21, when they averaged 4.82 ... (Fri, 09 Oct 2009 09:06:28 GMT)
Simply Money: Home equity loan issues
Should a borrower get a 30-year fixed loan to prevent an interest rate balloon or keep a home equity line of credit and draw against it for living expenses? (Fri, 09 Oct 2009 09:28:26 GMT)
Mortgage rates under 5% spur refinancing activity
McLEAN, Va. (AP)--Average rates for 30-year home loans stayed below 5 percent for the second-straight week, kick-starting refinancing activity, Freddie Mac said Thursday. (Fri, 09 Oct 2009 10:57:09 GMT)
Mortgage rates static in uncompetitive market
Mortgage rates remained broadly unchanged during September as the market continued to suffer from a lack of competition, figures showed today. (Fri, 09 Oct 2009 11:03:50 GMT)
Mortgage scam shut down
Federal prosecutors yesterday foreclosed on a $9 million mortgage scam, busting a dozen brokers, loan officers and attorneys who used fake IDs and false documents to buy properties in New York and Long Island. Using fake driver's licenses, bogus b... (Fri, 09 Oct 2009 11:18:09 GMT)
Mortgage worries dominate call-in
STOCKTON - Plunging home prices and the resulting surge in mortgage defaults and foreclosures have rattled the U.S. economy since late 2006 and early 2007. (Fri, 09 Oct 2009 11:38:38 GMT)
Commercial Mortgage Bonds May Be Back
Goldman Sachs Group may sell the first commercial-mortgage bond since June 2008 as it seeks to take advantage of an untapped Federal Reserve program, Bloomberg News reported. (Fri, 09 Oct 2009 12:01:28 GMT)
More build mortgage buffer with extra payments
MORTGAGE holders have seized the opportunity of lower interest rates to plough more money into paying off the principal of their loan, potentially saving thousands of dollars in interest payments. (Fri, 09 Oct 2009 13:16:26 GMT)
Treasury Hails Milestone in Home Loan Modifications
PETER S. GOODMAN Half a million troubled homeowners have seen their loan payments lowered under an Obama administration program. (Fri, 09 Oct 2009 14:27:52 GMT)
RBC raises residential fixed-rate mortgage rates by up to 0.35 percentage points
TORONTO - Royal Bank (TSX:RY) is raising its residential mortgage rates for fixed rate mortgages by up to 0.35 percentage points effective Saturday. (Fri, 09 Oct 2009 18:35:00 GMT)
£60m-worth of refunds on mortgage insurance
More than 1m holders of mortgage payment protection insurance (MPPI) policies are to receive refunds for premium increases that were unfairly imposed this year. (Fri, 09 Oct 2009 18:39:04 GMT)
RBC raises residential fixed-rate mortgage rates by up to 0.35 percentage points
TORONTO - Royal Bank (TSX:RY) is raising its residential mortgage rates for fixed rate mortgages by up to 0.35 percentage points effective (Fri, 09 Oct 2009 18:53:12 GMT)
Madison-area banks report plenty of refinancing business
Madison-area banks late last week also reported getting plenty of refinancing business since mortgage rates dropped below 5 percent. (Fri, 09 Oct 2009 19:56:08 GMT)
CashCall Mortgage Breaks the 4% Barrier: Offers Home Buyers a 15-Year Fixed Rate at 3.875% With no Upfront Fees
Finally, some good news for American families trying to find affordable mortgages. For the first time in decades, homebuyers can qualify for a fixed rate loan that's below 4%. CashCall Mortgage http://www.cashcall.com, one of this country's premiere consumer finance lenders, is the first and only lender to offer a 15-year, fixed rate mortgage at 3.875% . (Fri, 09 Oct 2009 20:09:00 GMT)
Grant pays SCAN mortgage
As the copy of SCAN's mortgage went up in smoke Wednesday, so too did more than $20,000 a year that the social-service agency had to dish out. Photo caption: Wendy Woehnker, left, Marlene Buesching, Bob Wagner and Dan Serban lead SCAN's mortgage-burning on Wednesday. Photo by Laura J. Gardner | The Journal Gazette (Fri, 09 Oct 2009 20:47:59 GMT)
Obama's home loan effort has doubters
Washington » The Obama administration's effort to help home -owners avoid foreclosure may not achieve its goal of helping 3 million to 4 million borrowers and may simply delay mortgage defaults for many, a government watchdog group says. (Fri, 09 Oct 2009 21:00:37 GMT)
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