Mortgage News Oct 2009
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IberiaBank opens new mortgage offices in Ala., Ga.
IberiaBank Corp. has opened three new mortgage offices in Alabama and two in Georgia. The company recently acquired the assets and liabilities of CapitalSouth Bank, a Birmingham, Ala.-based company shut by federal regulators. (Fri, 23 Oct 2009 17:23:46 GMT)
IberiaBank opens new mortgage offices in Ala., Ga.
IberiaBank Corp. has opened three new mortgage offices in Alabama and two in Georgia. The company recently acquired the assets and liabilities of CapitalSouth Bank, a Birmingham, Ala.-based company shut by federal regulators. The Alabama offices are in... Sponsored Topics: Alabama - Georgia - United States - Business - Birmingham Alabama (Fri, 23 Oct 2009 17:45:19 GMT)
IberiaBank opens new mortgage offices in Ala., Ga.
IberiaBank opens 5 new mortgage offices in Alabama, Georgia; now has 43 offices in 10 states (Fri, 23 Oct 2009 17:49:20 GMT)
Oversight panel launching probe into mortgage lenders
The House Oversight and Government Reform Committee has launched a wide-ranging investigation into mortgage lenders. Read more... (Fri, 23 Oct 2009 18:21:40 GMT)
Local home foreclosures on the rise
Foreclosures and home loan defaults continued to rise through the third quarter of the year, creating the potential for more available properties to meet strong buyer demand in the region, experts and real estate agents said. (Fri, 23 Oct 2009 19:01:50 GMT)
House panel's probe targets big mortgage lenders
A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking information from some of the biggest U.S. companies to determine if they used deceptive practices to lure borrowers into the housing boom. (Fri, 23 Oct 2009 20:02:10 GMT)
Congress to investigate mortgage lenders
WASHINGTON, Oct. 23 (UPI) -- A Congressional panel has opened an investigation into U.S. mortgage lenders to explore their role in the financial crisis and possible influence-peddling. (Fri, 23 Oct 2009 20:08:55 GMT)
Old credit disputes can scuttle loan
Could a little-known and potentially controversial practice by mortgage giants Fannie Mae and Freddie Mac kill or stall your next loan application? Absolutely. (Fri, 23 Oct 2009 20:11:34 GMT)
House Panel's Probe Targets Big Mortgage Lenders
House panel investigating role of mortgage lenders in crisis; subpoenas Countrywide Financial (Fri, 23 Oct 2009 20:16:40 GMT)
House panel's probe targets big mortgage lenders
WASHINGTON (AP) — A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking... (Fri, 23 Oct 2009 20:26:17 GMT)
Oversight panel to subpoena Countrywide mortgage documents
The House Oversight and Government Reform Committee majority and minority are negotiating the details of a subpoena for documents related to Countrywide Financial Corp.'s "VIP" mortgage program, a step forward in a probe that has been stalled by partisan squabbling. (Fri, 23 Oct 2009 20:59:51 GMT)
How big a gamble, if you don't pay the mortgage?
What happens if you don't pay the mortgage? We all talk about what ifs . (Fri, 23 Oct 2009 22:38:18 GMT)
Refinancing aid reaches few ailing homeowners
Less than 3 percent of "underwater" borrowers decide that the benefits of a new loan through government program are worth the closing costs. (Sat, 24 Oct 2009 01:09:28 GMT)
Credit account dispute could stall mortgage application
Fannie Mae and Freddie Mac, seeking to prevent fraud, have been kicking such applications back to lenders for manual underwriting. Could a little-known and potentially controversial practice by mortgage giants Fannie Mae and Freddie Mac kill or stall your next loan application? Absolutely. (Sat, 24 Oct 2009 02:17:30 GMT)
Little-known practice can trip up mortgage request
Picture this scenario: You’ve got outstanding credit scores close to 800 and solid equity in your home. All you want is to refinance your current mortgage to take advantage of today’s rock-bottom interest rates. By any measure, your application should rocket through your lender’s system and get you a great rate. But your bank says: Sorry. We can’t do your loan. Fannie Mae’s automated ... (Sat, 24 Oct 2009 04:15:42 GMT)
First-time homebuyers receiving a tax credit can take advantage of loan
To be eligible, must close on home by Nov. 30. Trenton, NJ - With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and ... (Sat, 24 Oct 2009 07:00:30 GMT)
Loan program for first-time homebuyers ending soon
Must close on home by Nov. 30 deadline Trenton With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and other ... (Sat, 24 Oct 2009 07:05:42 GMT)
Home and real estate seminars
Seminars describe how to buy a program, a home-improvement loan program and real estate careers. In addition, an adult community is holding an open house. (Sat, 24 Oct 2009 07:06:05 GMT)
Title agent gets 4 years for 14 mortgage scams
Without Karen Axline, local lenders would not have lost $4.5 million from 14 mortgage scams, a Franklin County prosecutor alleged yesterday. (Sat, 24 Oct 2009 08:07:39 GMT)
Filling in the Road Home aid gap: an editorial
Former Gov. Kathleen Blanco's administration designed the Road Home program with a central flaw. The program calculated grants based on the market value of properties at the time of the storm, meaning tens of thousands of beneficiaries in poor... (Sat, 24 Oct 2009 11:04:08 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Sat, 24 Oct 2009 11:06:15 GMT)
FSA's new mortgage rules: what the experts say
Industry reaction to the City watchdog's latest regulations governing mortgage lending The Financial Services Authority's new rules on mortgage lending have been broadly welcomed, although there are concerns the measures could threaten a solid recovery in the housing market. The British Bankers' Association "When they offer mortgages, the UK's high street banks pay particular attention to their ... (Sat, 24 Oct 2009 16:08:02 GMT)
Q&A: FSA mortgage lending reforms
The FSA has tightened the lending criteria for would-be homebuyers. Find out how this impacts on your plans A series of changes aimed at making the mortgage market "work better" were unveiled by the Financial Services Authority (FSA) today. We look at what they mean for borrowers. I'm hoping to buy my first home. Will this affect me? There is not much that will make it easier for first-time ... (Sat, 24 Oct 2009 16:08:12 GMT)
Mortgage lending shows 'modest improvement'
CML figures show mortgage lending rose to £12.5bn in September, but remains well below levels seen 12 months ago Gross mortgage lending rose slightly to £12.5bn in September, up 2% on August's £12.3bn. But despite the increase the figure is still down by 27% compared with September last year, according to figures published today by the Council of Mortgage Lenders (CML). Gross lending during the ... (Sat, 24 Oct 2009 16:08:32 GMT)
Homework essential in buying your first home
(ARA) - Are you considering taking the plunge and buying your first home? If so, you’re not alone. Across the country, owning a home still represents the American dream for many and the opportunity to buy your first home couldn’t be better. (Sat, 24 Oct 2009 16:20:16 GMT)
Mortgage fraud seminar in Lee attended by people scammed out of houses
The Fort Myers area was and is Ground Zero for mortgage foreclosures and mortgage fraud. Now, it is a center of mortgage rescue fraud, said Armando Fanna, field office director for the Housing and Urban Development agency in South Florida. (Sat, 24 Oct 2009 19:14:43 GMT)
Mortgage fraud seminar in Lee attended by people scammed out of houses
NORTH FORT MYERS — Every mortgage rescue fraud case he’s seen has had one common denominator, Chuck Holland told a room full of people in Lee County on Saturday. At a community forum on the housing crisis, Holland, a financial crimes investigator in the Florida Office of the Attorney General in Tampa, said every scam he’s seen includes the person pulling the scam offering advice not to make ... (Sat, 24 Oct 2009 19:31:18 GMT)
Mortgage fraud seminar in Lee County
Every mortgage rescue fraud case he's seen has had one common denominator, Chuck Holland told a room full of people in Lee County on Saturday. (Sat, 24 Oct 2009 21:47:12 GMT)
If Lenders Say ‘The Dog Ate Your Mortgage’
Judges are scrutinizing the methods lenders have used in foreclosures. One ruling eliminated a mortgage debt because the lender didn’t prove it held the note. (Sat, 24 Oct 2009 22:04:40 GMT)
FLYNN: With a missed loan payment, know who to talk to
Everyone these days seems to have a horror story to tell about a lost or misapplied loan payment. The likely explanation is downsizing, changes in regulatory law and aging computer systems — not greedy lenders. Regardless of cause, if you... (Sat, 24 Oct 2009 22:11:58 GMT)
Julian Knight: These hiked up mortgage fees – what a fix
Buried in the Bank of England's most recent report into lending trends – yes, I do need to get out much more – is both good and bad news. Let's have the supposed good news first; the Bank reckons the mortgage market is about to get more competitive and interest rates will fall. However, the Bank states that its discussions with lenders have highlighted "increased mortgage fees in the coming ... (Sat, 24 Oct 2009 23:04:26 GMT)
Hundreds Show Up For Mortgage Help
Mortgage foreclosures are still a problem, and they’re a particularly large problem in Southern Maryland. (Sun, 25 Oct 2009 00:11:12 GMT)
HK may scrap mortgage insurance scheme
THE Hong Kong Monetary Authority may scrap a programme that offers mortgage insurance for investment properties as the city's central bank tries to prevent a real estate bubble. (Sun, 25 Oct 2009 01:03:49 GMT)
Loan-shark runner, 16, gets four years
A TEENAGE girl will now spend the next four years behind bars for her first criminal offences - helping loan sharks do their dirty work. (Sun, 25 Oct 2009 01:04:49 GMT)
First-time home buyers offered $8,000 tax credit
The door of opportunity is closing on a home buying program. (Sun, 25 Oct 2009 03:06:49 GMT)
Cherishing memories, burning the mortgage
Fairview United Methodist Church made the last two payments on its mortgage this summer. (Sun, 25 Oct 2009 05:12:23 GMT)
Forum answers mortgage questions
Some so-called financial advisors have told homeowners to stop paying their mortgage so they can seek help from the federal government. (Sun, 25 Oct 2009 05:28:48 GMT)
Home loans becoming expensive
25 October 2009 Rising house prices and rising interest rates during the last month have conspired to weaken home loan affordability. (Sun, 25 Oct 2009 06:04:27 GMT)
First-time homebuyers receiving a tax credit can take advantage of loan
To be eligible, must close on home by Nov. 30. Trenton, NJ - With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and ... (Sun, 25 Oct 2009 06:53:57 GMT)
House panel's probe targets big mortgage lenders
WASHINGTON — A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking information from some of the biggest U.S. companies to determine if they used deceptive practices to lure borrowers into the housing boom. (Sun, 25 Oct 2009 06:57:07 GMT)
Loan program for first-time homebuyers ending soon
Must close on home by Nov. 30 deadline Trenton With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and other ... (Sun, 25 Oct 2009 07:04:21 GMT)
Mortgage rates climb; 5% seen for first time in month
Rates for 30-year home loans have inched up, hitting 5 percent for the first time in nearly a month after bond yields edged up. (Sun, 25 Oct 2009 07:07:27 GMT)
Credit account dispute could stall mortgage application
Fannie Mae and Freddie Mac, seeking to prevent fraud, have been kicking such applications back to lenders for manual underwriting. Could a little-known and potentially controversial practice by mortgage giants Fannie Mae and Freddie Mac kill or stall your next loan application? Absolutely. (Sun, 25 Oct 2009 07:15:47 GMT)
One simple way parents with good credit can help children build theirs
Adding your son as an authorized user to a credit card doesn't mean giving him access to the account. Instead, your card history is simply added to his credit reports, assuming your issuer agrees. Dear Liz: My credit scores are good (over 800 when I refinanced my mortgage last year). I was thinking of listing my son, who is 14, as an authorized user of my credit cards to start establishing his ... (Sun, 25 Oct 2009 07:15:58 GMT)
Panel probes deceptive home-loan practices
WASHINGTON — A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking information from some of the biggest U.S. companies to determine if they used deceptive practices to lure borrowers into the housing boom. (Sun, 25 Oct 2009 07:20:29 GMT)
Past credit disputes can kill mortgage loans
Could a little-known and potentially controversial practice by mortgage giants Fannie Mae and Freddie Mac kill or stall your next loan application? Absolutely. Picture this scenario: You've got outstanding credit scores close to 800 and solid equity in your... (Sun, 25 Oct 2009 07:32:46 GMT)
Chart: National mortgage rates
National mortgage rates 30-year fixed 5.00% 0.7 points Last week: 4.92% Month: 5.04% Year: 6.04% 15-year fixed 4.43% 0.6 points (Sun, 25 Oct 2009 07:37:26 GMT)
Credit notation might kill new loan
Could a little-known practice by mortgage giants Fannie Mae and Freddie Mac kill or stall your next loan application? Absolutely. (Sun, 25 Oct 2009 07:54:07 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, 25 Oct 2009 08:03:03 GMT)
Home loan affordabilty drops
Home loan affordability is at its worst level since December last year due to rising house prices and interest rates, according to a BNZ survey. (Sun, 25 Oct 2009 08:23:51 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Sun, 25 Oct 2009 09:14:06 GMT)
HOME LOAN FINANCIAL ANNOUNCES DIVIDEND
COSHOCTON -- Home Loan Savings Bank Financial Corporation of Coshocton has announced a cash dividend in the amount of 20 cents per share payable to shareholders of record as of Oct. 30 on Nov. 13. (Sun, 25 Oct 2009 12:11:13 GMT)
Participants in a $12.8 million loan program have yet to close on a single home
Palm Beach County has $12.8 million in federal money to lend to home-buyers in an effort to decrease surplus housing. (Sun, 25 Oct 2009 17:41:15 GMT)
Florida Interagency Mortgage Task Force Hosts Community Forum on Housing Issues
FT. MYERS, FL – The Attorney General’s Office and the Florida Interagency Mortgage Task Force today hosted a Ft. Myers community forum to discuss the housing crisis. (Sun, 25 Oct 2009 20:38:34 GMT)
Home Loan Affordability Worst Since late 20008
Rising house prices and interest rates combined in September to weaken home loan affordability to its worst level since December 2008, the BNZ Home Loan Affordability measure shows. (Sun, 25 Oct 2009 23:57:07 GMT)
NAB raised fixed-term loan rates
THE NAB today joined the other big banks in signalling raises for fixed-interest loan rates. (Mon, 26 Oct 2009 02:27:00 GMT)
Stop complaining about Clydesdale mortgage saga
Clydesdale made a mistake and compensated you. It's now up to you to resolve your remaining concerns Two years ago, I used money inherited from my mother's estate to switch to an interest-only offset mortgage at Clydesdale Bank. I wanted to keep the capital in the savings account and use the interest earned to pay the mortgage interest. It soon became apparent that this set-up was not working as ... (Mon, 26 Oct 2009 02:50:26 GMT)
Green loan debate heats up in Vail Valley
VAIL VALLEY, Colorado - If Eagle County voters approve an energy "smart loan" program this fall, will participants be able to re-sell their Vail Valley homes? (Mon, 26 Oct 2009 03:42:59 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Mon, 26 Oct 2009 05:44:06 GMT)
10 things that can kill a home loan
Just having a pulse isn't enough to get approved for a mortgage anymore. But knowing the rules ahead of time can help you steer clear of any potholes. (Mon, 26 Oct 2009 06:52:46 GMT)
First-time homebuyers receiving a tax credit can take advantage of loan
To be eligible, must close on home by Nov. 30. Trenton, NJ - With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and ... (Mon, 26 Oct 2009 06:55:42 GMT)
Loan program for first-time homebuyers ending soon
Must close on home by Nov. 30 deadline Trenton With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and other ... (Mon, 26 Oct 2009 07:06:10 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. (Mon, 26 Oct 2009 08:06:18 GMT)
Russia's mortgage lending market to recover in 2012
RBC, 26.10.2009, Moscow 11:39:21. The total volume of mortgage loans in 2012 may exceed the pre-crisis level and amount to RUB 818bn (approx. USD 28.21bn) and reach RUB 1.676 trillion (approx. (Mon, 26 Oct 2009 09:01:31 GMT)
Extra payments cut mortgage by 12 years
Diverting a little extra cash into your mortgage can save you tens of thousands of dollars. (Mon, 26 Oct 2009 10:00:00 GMT)
Mortgage madness
Federal Reserve vice chairman Donald Kohn believes that prices of mortgage-backed securities are likely to fall when the Fed eventually begins selling mortgage-backed securities (MBS) from its portfolio, according to a MarketNews International report by Steven K Beckner last Thursday. (Mon, 26 Oct 2009 10:12:14 GMT)
Sheffield Utd seek loan deal for Man City striker Ball
Sheffield United are chasing Manchester City striker David Ball. The Mirror says Ball is wanted on loan by injury-hit Sheffield United boss Kevin Blackwell. read more (Mon, 26 Oct 2009 10:22:27 GMT)
Tax bill stops Friend loan deal
Southend's bid to extend the loan deal of George Friend falls through because of the club's outstanding tax bill. (Mon, 26 Oct 2009 10:26:29 GMT)
Mortgage modification may be credit downer
Dear Debt Adviser, I have a question in regard to debt. My wife and I are currently in the process of modifying our mortgage. However, as soon as we started the modification process, our credit card limit was reduced significantly. Will a mortgage modification affect our credit? (Mon, 26 Oct 2009 10:27:00 GMT)
Green loan debate heats up in Vail Valley
VAIL VALLEY, Colorado - If Eagle County voters approve an energy "smart loan" program this fall, will participants be able to re-sell their Vail Valley homes? (Mon, 26 Oct 2009 11:46:39 GMT)
Mortgage lenders braced for a crackdown on home loans
The mortgage market in Northern Ireland and the rest of the UK is about to get shaken-up. The Financial Services Authority — which regulates mortgages — has announced new controls designed to prevent unsustainable house price bubbles being repeated. Related Stories A question of money: Paying bills on a holiday home in the republic (Mon, 26 Oct 2009 11:56:39 GMT)
Mortgage lenders braced for a crackdown on home loans
The mortgage market in Northern Ireland and the rest of the UK is about to get shaken-up. The Financial Services Authority — which regulates mortgages — has announced new controls designed to prevent unsustainable house price bubbles being repeated. Related Stories Warm relief this winter A question of money: Cash ISA: top up or buy new? A question of money: Using a cash machine to withdraw ... (Mon, 26 Oct 2009 12:01:12 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Mon, 26 Oct 2009 14:14:13 GMT)
S&P Offers Residential Mortgage Data
New data feed provides information about mortgage originations and performance. (Mon, 26 Oct 2009 14:39:50 GMT)
AnswerMine Launches Mortgage Analytics Service
AnswerMine Group has released the Mortgage Analytics Service, an analytics-based solution for targeted mortgage restructuring, mortgage portfolio valuation and risk management. (Mon, 26 Oct 2009 15:14:40 GMT)
Nationwide to Raise 3.5 Billion Pounds From Mortgage Securities
Oct. 26 (Bloomberg) -- Nationwide Building Society, the U.K.’s biggest customer-owned lender, is raising 3.5 billion pounds ($5.1 billion) in Britain’s second public sale of mortgage-backed securities in a year. (Mon, 26 Oct 2009 15:37:52 GMT)
PRESS RELEASE: Fitch Rates Azerbaijan Mortgage Fund BB
Fitch Ratings-London/Istanbul/Moscow-26 October 2009: Fitch Ratings has today assigned Azerbaijan Mortgage Fund under the Central Bank of Azerbaijan ("AMF") Long-term foreign and local currency ratings of 'BB' respectively. The Outlooks on the ratings are Stable. (Mon, 26 Oct 2009 16:48:43 GMT)
Beckham's loan is nearly '100 per cent'
AC Milan CEO Adriano Galliani says that David Beckham's return to the club on loan from the Los Angeles Galaxy in January is nearly "100 per cent" certain. (Mon, 26 Oct 2009 18:27:06 GMT)
Program to alert mortgage holders about loan scams launches nationwide
A nationwide information program to alert struggling mortgage holders to loan modification scams was launched Monday in Los Angeles - an area where 14 percent of homeowners are facing foreclosure. (Mon, 26 Oct 2009 19:07:02 GMT)
L.A. warned of loan modification scams
Los Angeles city leaders are launching a campaign against loan modification scams. (Mon, 26 Oct 2009 19:50:33 GMT)
New York Mortgage Trust 2009 Third Quarter Conference Call Scheduled for Wednesday November 4, 2009
New York Mortgage Trust, Inc. is scheduled to report financial results for the three and nine months ended September 30, 2009 after the close of market on November 3, 2009. (Mon, 26 Oct 2009 20:05:00 GMT)
Four Seasons New York Loan Placed on S&P Watch for Downgrade
Oct. 26 (Bloomberg) -- Commercial real estate debt backed by four luxury hotels including the Four Seasons in New York may be downgraded by Standard & Poor’s because of a drop in cash flow from the properties. (Mon, 26 Oct 2009 21:32:57 GMT)
5 charged with torturing Calif. home loan agents
Prosecutors say five people have been charged in Los Angeles with torturing and robbing two men they thought falsely promised to save their home from foreclosure. (Mon, 26 Oct 2009 21:57:05 GMT)
Couple get federal prison time in mortgage fraud
The former president of GreatStone Mortgage and his wife, an officer in the now-defunct company, were sentenced to federal prison today for their role in a $79 million Ponzi scheme. (Mon, 26 Oct 2009 22:00:05 GMT)
5 charged with torturing Calif. home loan agents
5 charged with torturing, robbing California loan modification agents hired to save home (Mon, 26 Oct 2009 22:14:17 GMT)
5 Charged With Torturing Home Loan Agents
LOS ANGELES --Five people are charged with torturing and robbing two loan modification agents they thought falsely promised to save their home from foreclosure. (Mon, 26 Oct 2009 23:09:52 GMT)
Mortgage originator PHH Corp. names Jerome J. Selitto chief executive officer, president
MT. LAUREL, N.J. - Mortgage originator PHH Corp. said Monday that it named Jerome J. Selitto as president and CEO and a director, effective immediately. (Mon, 26 Oct 2009 23:45:43 GMT)
U.S. judge appoints trustee to run Thornburg Mortgage
WILMINGTON, Delaware (Reuters) - A bankruptcy judge appointed a trustee to take over the liquidation of Thornburg Mortgage after it was discovered former executives were using staff and equipment to l... (Mon, 26 Oct 2009 23:52:51 GMT)
Torture charged in L.A.-area mortgage rescue case
As Los Angeles housing advocates launched a campaign warning of mortgage rescue scams, a couple hit by foreclosure are charged with torturing two loan-modification agents they suspected of fraud, authorities said on Monday. (Tue, 27 Oct 2009 00:24:17 GMT)
U.S. judge appoints trustee to run Thornburg Mortgage
A bankruptcy judge appointed a trustee to take over the liquidation of Thornburg Mortgage after it was discovered former executives were using staff and equipment to launch a start-up venture. (Tue, 27 Oct 2009 01:08:02 GMT)
Torture charged in LA-area mortgage rescue case
As Los Angeles housing advocates launched a campaign warning of mortgage rescue scams, a couple hit by foreclosure are charged with torturing two loan-modification agents they suspected of fraud (Tue, 27 Oct 2009 01:20:57 GMT)
Home loan agents tortured
A COUPLE hit by mortgage foreclosure have been charged with torturing two loan-modification agents they suspected of fraud. (Tue, 27 Oct 2009 01:28:38 GMT)
LA couple charged with torturing home loan agents
As Los Angeles housing advocates launched a campaign warning of mortgage rescue scams, a couple hit by foreclosure are charged with torturing two loan-modification agents they suspected of fraud (Tue, 27 Oct 2009 01:36:11 GMT)
CALL FOR ACTION: Mortgage fraud protection promises
A promise to protect homeowners from mortgage fraud could be a problem itself. (Tue, 27 Oct 2009 02:25:42 GMT)
5 charged with beating, robbing loan agents
A couple and three associates are held on $1-million bail in attack. A La Cañada Flintridge couple trying to save their home from foreclosure were arrested along with three others on suspicion of beating, torturing and robbing a pair of loan modification agents they believed had done nothing to help them rescue the residence. (Tue, 27 Oct 2009 02:59:02 GMT)
First-home buyers' demand fades
First-home buyers are losing interest in the loan market as the Federal Government reduces financial assistance for their housing purchase. (Tue, 27 Oct 2009 04:09:31 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Tue, 27 Oct 2009 05:59:39 GMT)
Ex-worker testifies on mortgage scam
WHITE PLAINS — A former employee of an accused mortgage scammer based in southern Orange County told a federal jury Monday about a slick script that was used to keep inquisitive, would-be customers from questioning the company's sales pitch. (Tue, 27 Oct 2009 06:10:13 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, 27 Oct 2009 06:24:24 GMT)
Home loan trapped in bank's failure
When Richard and Caroline Rapp of Ray Township closed on their home construction loan in August, they felt certain they would soon realize their 14-year dream to live in a barrier-free home. Construction began a few weeks later, and just as their builder was to take the first draw of $65,000 for foundation and other work, Warren Bank was seized by federal regulators on Oct. 2. (Tue, 27 Oct 2009 07:30:07 GMT)
Home, car loan rates may not rise
The Reserve Bank on Tuesday increased a key statutory deposit ratio for banks to 25 per cent but the move is not expected to push interest rates up. RBI left other key policy rates and ratios unchanged. Due to this, it is unlikely that banks will banks hike their auto, home and education loan rates in the near term. (Tue, 27 Oct 2009 08:11:57 GMT)
(AFX UK Focus) 2009-10-27 08:20 Spain August mortgage lending drops 24.2 pct y/y
MADRID, Oct 27 (Reuters) - Spanish mortgage lending dropped 24.2 percent year-on-year in August, compared to a 33.9 percent annual decline in July, the National Statistics Institute said on Tuesday. The rate of decline compared with a record 56.2 percent drop in April. July mortgage lending totalled 5.865 billion euros ($8.82 billion), while the average value of mortgages approved during the ... (Tue, 27 Oct 2009 08:26:58 GMT)
Spain Mortgage Lending Decreases In August
(RTTNews) - Mortgage lending in Spain dropped 24.2% year-on-year to EUR 5.87 billion in August, the National Statistics Institute said Monday. Month-on-month, mortgage lending decreased 13.4%. (Tue, 27 Oct 2009 09:38:54 GMT)
Judge Appoints Trustee to Run Thornburg Mortgage
A bankruptcy judge appointed a trustee to take over the liquidation of Thornburg Mortgage after it was discovered former executives were using staff and equipment to launch a start-up venture. (Tue, 27 Oct 2009 10:15:58 GMT)
Leadbay appointed to Mortgage Intelligence panel
To support the launch Leadbay will be running an exclusive offer for mortgage Intelligence Appointed Representatives and Directly Authorised members. All Mortgage Intelligence members who purchase Leadbay’s fixed priced Leadbundles will receive an additional 20% of leads completely free. (Tue, 27 Oct 2009 10:21:04 GMT)
Mortgage scheme aids three people
A mortgage scheme designed to help people facing repossession in Yorkshire has only been able to help three people in nine months. (Tue, 27 Oct 2009 10:34:19 GMT)
Thirty-Year Fixed Mortgage Rates Continue to Decline; Most State Rates Now Below 5.00%
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased ten basis points last week to 4.87 percent, down from 4.97 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. (Tue, 27 Oct 2009 11:00:00 GMT)
Woman gets 4 years for mortgage fraud
COLUMBUS -- A Granville title agent was sentenced to four years in prison Friday for her role in a mortgage-fraud scheme after she had pleaded guilty to 10 felony counts of theft, falsification and money laundering. (Tue, 27 Oct 2009 11:03:13 GMT)
Low Rates Cause Surge in Refinance Loan Requests on Zillow(R) Mortgage Marketplace
With mortgage rates reaching historic lows, Zillow Mortgage Marketplace reports a surge in refinance request activity within its free marketplace for custom mortgage quotes. (Tue, 27 Oct 2009 12:01:00 GMT)
Hong Kong New Mortgage Loans Drawn Down Increase In September
(RTTNews) - Tuesday, the Hong Kong Monetary Authority said in a report that the new mortgage loans drawn down rose 17% month-on-month in September, compared to the 23.3% fall in the previous month. (Tue, 27 Oct 2009 12:24:58 GMT)
Nationwide Sets Size, Yield on Silverstone U.K. Mortgage Bonds
Oct. 27 (Bloomberg) -- Nationwide Building Society will issue 3.5 billion pounds of Silverstone 2009-1 mortgage-backed notes in three parts, according to a banker involved in the transaction. (Tue, 27 Oct 2009 12:39:00 GMT)
Obama Loan Modification Laws and "Home Affordable Modification Program" Not Helping Homeowners Quick Enough
A Loan Modification can be the only answer for homeowners facing foreclosure. Homeowners should educate themselves on the benefits of a Do It Yourself Loan Modification www.UsLoanModificationLaw.com helps home owners in this process. [PR.com - October 27, 2009] (Tue, 27 Oct 2009 13:20:54 GMT)
United Community's Loss Widens
The company posted its fifth-straight quarterly net operating loss of $43.7 million. (Tue, 27 Oct 2009 13:24:25 GMT)
Mortgage Fraud Risk Index Jumps 11 Percent
AGOURA HILLS, Calif.----Interthinx released its quarterly Mortgage Fraud Risk Report today, covering data collected during the third quarter of 2009. The report, which includes an analysis of the state of mortgage fraud nationally and indices for the four most common types of mortgage fraud, indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the ... (Tue, 27 Oct 2009 15:03:00 GMT)
Oscar F. Angulo Joins HomeBanc as Mortgage Loan Officer
TAMPA, FL--(Marketwire - October 27, 2009) - Tampa-based HomeBancorp, Inc. has named Oscar F. Angulo as Mortgage Loan Officer for HomeBanc. He is based in HomeBanc's Brandon loan production office, located at 659 West Lumsden Road. Mr. Angulo brings to HomeBanc several years of mortgage lending experience. He has a Bachelor's degree in Public Relations from Eastern Kentucky University, and his ... (Tue, 27 Oct 2009 15:33:09 GMT)
Family First Federal Credit Union Adds Brent Wasmer and Jon Meier to Executive Team
OREM, Utah----Family First Federal Credit Union today announced the hiring of Brent K. Wasmer as vice president and chief operations officer , and Jon K. Meier as mortgage manager. (Tue, 27 Oct 2009 16:52:00 GMT)
Home Loan Trapped in Bank's Failure: Work Halts on Barrier-Free House
Oct. 27--When Richard and Caroline Rapp of Ray Township closed on their home construction loan in August, they felt certain they would soon realize their 14-year dream to live in a barrier-free home. (Tue, 27 Oct 2009 17:21:20 GMT)
S&P May Downgrade Several Mortgage Insurers
S&P May Downgrade Several Mortgage Insurers (Tue, 27 Oct 2009 17:41:12 GMT)
Research and Markets: 2010 U.S. Mortgage & Non-Mortgage Brokers Industry Report
DUBLIN----Research and Markets has announced the addition of the "2010 U.S. Mortgage & Non-Mortgage Brokers Industry Report" report to their offering. (Tue, 27 Oct 2009 18:00:00 GMT)
MetLife, Lincoln May Avoid Commercial Mortgage Losses (Update1)
Oct. 27 (Bloomberg) -- MetLife Inc. , the biggest U.S. life insurer, and Lincoln National Corp. will probably sidestep commercial-mortgage losses because their biggest loans are “handily” below property values, Barclays Plc said. (Tue, 27 Oct 2009 18:46:05 GMT)
S&P May Downgrade Several Mortgage Insurers
SAN FRANCISCO -- Standard & Poor's said Tuesday it may downgrade the ratings of several mortgage insurers because of a longer than expected loss cycle. S&P said it may downgrade Old Republic Internat... (Tue, 27 Oct 2009 18:54:01 GMT)
Libby Mitchell: Hustled
Recently, my husband and I were taken for $465. Not by a guy named Lefty, or Madoff, but rather by a mortgage lender, who is probably your mortgage lender too: CitiMortgage. (Tue, 27 Oct 2009 19:24:52 GMT)
Couple charged with torturing loan agents
GLENDALE, Calif., Oct. 27 (UPI) -- A California couple facing foreclosure on their home kidnapped, beat and tortured two loan modification agents they had hired to help them, prosecutors say. (Tue, 27 Oct 2009 19:25:36 GMT)
5 Charged With Torturing Home Loan Agents
LOS ANGELES --Five people are charged with torturing and robbing two loan modification agents they thought falsely promised to save their home from foreclosure. (Tue, 27 Oct 2009 19:39:21 GMT)
Low Rates Cause Surge in Refinance Loan Requests on Zillow Mortgage Marketplace
RISMEDIA, October 28, 2009—With mortgage rates reaching historic lows, Zillow Mortgage Marketplace reports a surge in refinance request activity within its free marketplace for custom mortgage quotes. In the first half of October 2009, as mortgage rates dropped below 5%, consumer interest in refinancing soared. The number of refinance requests for ... (Tue, 27 Oct 2009 20:49:04 GMT)
Expenses review leak: No more mortgage payments
MPs will not be allowed to claim for mortgage interest payments on their second homes under Sir Christopher Kelly's review of expenses, it has been reported. (Tue, 27 Oct 2009 21:06:52 GMT)
NY Fed Rejects 5 CMBS, Accepts 81 For TALF Program
NEW YORK -(Dow Jones)- The Federal Reserve Bank of New York Tuesday announced which existing commercial mortgage-backed securities would be eligible for cheap funding under its Term Asset-Backed Loan Facility. (Tue, 27 Oct 2009 21:48:42 GMT)
Rep. Towns subpoenas documents dealing with sub-prime mortgage scandal
A Brooklyn lawmaker last week issued a subpoena seeking information on a mortgage company that had given him two mortgages and allegedly contributed to last year’s sub-prime financial meltdown.Rep. Edolphus Towns, who chairs the House Committee on Ov... (Tue, 27 Oct 2009 22:11:33 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Tue, 27 Oct 2009 22:14:07 GMT)
Mortgage Fraud Task Force Raids Title Company
A Henderson title and escrow office was the focus of a raid by the Nevada Attorney General's Office. Mortgage fraud investigators took over the office Tuesday morning to investigate. (Tue, 27 Oct 2009 23:59:53 GMT)
First home buyers drop-off
Business from first home buyers has dropped off dramatically says mortgage broker Loan Market Group. (Wed, 28 Oct 2009 00:09:54 GMT)
MP mortgage 'ban' splits opinion
Reactions to reports MPs will be banned from claiming the cost of mortgage interest payments on second homes. (Wed, 28 Oct 2009 01:02:56 GMT)
Mortgage exes ban to hit MPs
SLEAZE busters will ban MPs from claiming mortgage expenses if they live near London (Wed, 28 Oct 2009 03:02:54 GMT)
10 Queens residents busted in mortgage fraud
Just one week after federal investigators busted an alleged mortgage fraud scheme that affected several Queens properties, federal prosecutors indicted 41 individuals last Thursday, including 10 Queens residents, for reportedly raking in $64 million in a similar scandal. (Wed, 28 Oct 2009 06:17:40 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. (Wed, 28 Oct 2009 06:36:27 GMT)
Loan program for first-time homebuyers ending soon
Must close on home by Nov. 30 deadline Trenton With the Nov. 30 deadline looming for prospective first-time homebuyers to purchase a home and receive the benefit of the federal government’s $8,000 tax credit, the New Jersey Housing and Mortgage Finance Agency (HMFA), is reminding New Jersey residents that the agency is offering a loan to assist with closing costs, down payments and other ... (Wed, 28 Oct 2009 07:09:08 GMT)
Colorado AG files complaint against mortgage firm.
The Colorado attorney general's consumer-protection unit has filed a complaint against a Colorado Springs-based mortgage company and its top employees, claiming they engaged in deceptive practices. (Wed, 28 Oct 2009 07:18:01 GMT)
RPT-Aussie commercial mortgage market readies for 2010 revival
(Repeats to remove extraneous material in paragraph 10) (Wed, 28 Oct 2009 07:39:33 GMT)
PRESS RELEASE: Fitch: FSA UK Mortgage Market Review Could Hit Servicing
Fitch Ratings-London-28 October 2009: Fitch Ratings says today that proposed revisions to UK mortgage regulation relating to servicing practices, specifically arrears management, could have negative financial implications for mortgage customers instead of the intended benefits. (Wed, 28 Oct 2009 08:19:02 GMT)
PRESS RELEASE: Fitch: FSA UK Mortgage Market Review Positive; Unlikely to Affect RMBS Ratings
Fitch Ratings-London-28 October 2009: Fitch Ratings today views positively the main proposals set out in the UK Financial Services Authority's (FSA) Mortgage Market review (MMR) which include the use of a standardised approach to assessing consumers' ability to repay a mortgage - including verification of a borrower's income for new mortgages. (Wed, 28 Oct 2009 08:34:02 GMT)
Expenses review leak: No more mortgage payments
MPs will not be allowed to claim for mortgage interest payments on their second homes under Sir Christopher Kelly's review of expenses, it has been reported. (Wed, 28 Oct 2009 09:42:25 GMT)
MPs face ban on second home mortgage claims
MPs will not be allowed to claim mortgage interest costs on second homes and are to be barred from employing family members, according to leaks of a report into parliamentary expenses due next week. (Wed, 28 Oct 2009 11:05:00 GMT)
(AFX UK Focus) 2009-10-28 11:20 STOCKS NEWS US-Mortgage apps slump for third straight week: MBA
Stocks on the move (Wed, 28 Oct 2009 11:27:06 GMT)
U.S. mortgage applications slump
New York — U.S. home loan demand slid for the third straight week, the Mortgage Bankers Association said on Wednesday, with purchase applications the weakest since mid-May and refinancing requests at a two-month low. (Wed, 28 Oct 2009 11:31:35 GMT)
Mortgage applications slide
Mortgage applications fell last week for the third week in a row, even as interest rates edged lower, an industry group said Wednesday. (Wed, 28 Oct 2009 11:48:20 GMT)
Nationwide Mortgage-Backed Bonds Rise on First Day of Trading
Oct. 28 (Bloomberg) -- Nationwide Building Society’s new mortgage bonds rose on the first day of trading as the thaw in credit markets revives investor demand for asset-backed debt. (Wed, 28 Oct 2009 11:52:43 GMT)
Mortgage demand falls again in latest week
Mortgage applications dropped in the latest week as declining refinancing activity again weighed on the Mortgage Bankers Association index, according to data released Wednesday. (Wed, 28 Oct 2009 12:11:20 GMT)
Mortgage demand falls again in latest week
Mortgage applications dropped in the latest week as declining refinancing activity again weighed on the Mortgage Bankers Association index, according to data released Wednesday. (Wed, 28 Oct 2009 12:15:40 GMT)
Mortgage applications slump again as rates hold about 5%
Home loan demand slid for the third straight week, the Mortgage Bankers Association said Wednesday, with purchase applications the weakest since mid-May and refinancing requests at a two-month low. (Wed, 28 Oct 2009 12:38:37 GMT)
U.S. Futures Sag on Lower Loan Demand
Stocks are poised for a lower open after a report of falling home loan application volume. (Wed, 28 Oct 2009 13:03:06 GMT)
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