Mortgage News Nov 2009

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Bankrate: Mortgage Rates Hold Steady
The average conforming 30-year fixed mortgage rate was unchanged at 5.35 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.31 discount and origination points. (Thu, 05 Nov 2009 12:30:00 GMT)

Strodtman jurors get a mortgage lesson on Day 1
Strodtman jurors get a mortgage lesson on Day 1 Sharon Dunn A Weld District Court jury charged with determining whether a Greeley builder committed forgery and theft in a pattern of racketeering three years ago was left with two different impressions of the man Wednesday morning to kick off his three-week trial. Mark Strodtman, 52, is on trial for 11 counts of felony theft, 11 counts of forgery ... (Thu, 05 Nov 2009 13:10:29 GMT)

Bankrate: Mortgage Rates Remain Mostly Flat
Bankrate: Mortgage Rates Remain Mostly Flat (Thu, 05 Nov 2009 13:38:21 GMT)

Bank of Rajasthan slashes home loan rates to 7.5 pc
Mumbai, Nov 5 : Bank of Rajasthan has cut the home loan interest under its Apna Ghar Scheme to 7.5 per cent, effective from November nine. (Thu, 05 Nov 2009 15:58:06 GMT)

Mortgage-fraud sting nets dozens in Orlando area
In response to an "epidemic" amount of mortgage fraud in Florida, federal agents and prosecutors have spent the last nine months building cases against Realtors, brokers and other industry professionals. (Thu, 05 Nov 2009 16:09:01 GMT)

Pacific Mortgage Fund, a California-Based Private Lender, Provides $7.5M in Fundings in 1st Funding Tranche
Pacific Mortgage Fund is a private mortgage fund which makes 1st trust deed investments in commercial and luxury residential properties nationwide, focusing primarily on the West Coast. (Thu, 05 Nov 2009 16:10:00 GMT)

U.S. Mortgage Rates Fall for First Time in Four Weeks (Update2)
Nov. 5 (Bloomberg) -- Mortgage rates for 30-year fixed U.S. home loans fell for the first time in a month this week as the Federal Reserve pledged to keep its benchmark rate near zero. (Thu, 05 Nov 2009 16:18:12 GMT)

Mortgage rates drop below 5 percent: Freddie Mac
U.S. mortgage rates fell below 5 percent for the first time in three weeks, a key level that may boost home loan demand and help the hard-hit housing market recover, a closely watched mortgage survey showed Thursday. (Thu, 05 Nov 2009 16:18:42 GMT)

Mortgage rates drop below 5 percent: Freddie Mac
By Julie Haviv (Thu, 05 Nov 2009 16:18:42 GMT)

Northern Rock cuts mortgage rates again
Northern Rock the nationalised bank has cut its mortgage rates for the fourth time in just over a month. (Thu, 05 Nov 2009 16:33:23 GMT)

Strodtman jurors get a mortgage lesson on Day 1
Strodtman jurors get a mortgage lesson on Day 1 Sharon Dunn A Weld District Court jury charged with determining whether a Greeley builder committed forgery and theft in a pattern of racketeering three years ago was left with two different impressions of the man Wednesday morning to kick off his three-week trial. Mark Strodtman, 52, is on trial for 11 counts of felony theft, 11 counts of forgery ... (Thu, 05 Nov 2009 16:35:09 GMT)

Mortgage Fraud Risk Index Jumps 11 Percent, According to Verisk Analytics Subsidiary Interthinx
JERSEY CITY, N.J. -- Verisk Analytics subsidiary 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 ... (Thu, 05 Nov 2009 16:35:16 GMT)

Mortgage lenders ease deposit restrictions
Banks and building societies are starting to accept higher loan to value arrangements, but interest rates on these loans remain high. The minimum deposit requirement had soared to as high as 40 per cent in the wake of the subprime mortgage meltdown. (Thu, 05 Nov 2009 18:43:55 GMT)

Mortgage Rates Fall This Week; 30-Year Fixed At 4.98%-Freddie
Mortgage rates fell this week, with the average rate on 30-year fixed-rate mortgages retreating back below the psychologically significant 5% level, according to Freddie Mac's (FRE) weekly survey of mortgage rates. (Thu, 05 Nov 2009 18:48:43 GMT)

Mortgages: 30-year fixed-rate mortgage below 5%: Freddie Mac
Rates on 30-year fixed-rate mortgages average 4.98% for the week ending Nov. 5, down from 5.03% the previous week, says Freddie Mac’s weekly survey. (Thu, 05 Nov 2009 19:01:00 GMT)

Banks likely to retain home loan rates
Though the Reserve Bank of India has announced exit from its year-long accommodative monetary policy, major public and private sector banks seem to be inclined towards continuing their cheaper home loan schemes for some more time. (Thu, 05 Nov 2009 20:30:26 GMT)

State offering 22% home loan program
PHOENIX - The Arizona Department of Housing received $20 million from Washington and is using that money to help people buy foreclosed homes. The goal of the program is to get the massive amount of foreclosed homes off the books. You can get a loan for up to 22% of the value of the home and if you live there for a certain period of time you will never have to pay that money back. There are a few ... (Thu, 05 Nov 2009 20:37:29 GMT)

(AFX UK Focus) 2009-11-05 20:31 Fannie Mae program to turn homeowners into renters
WASHINGTON, Nov 5 (Reuters) - Major U.S. mortgage finance source Fannie Mae announced on Thursday a program aimed at turning struggling homeowners into renters in their own homes. The last-ditch program, to be known as Deed for Lease, is designed for borrowers who are facing foreclosure and have been unable to get a modification or refinance on their existing loan. Borrowers would transfer their ... (Thu, 05 Nov 2009 20:58:10 GMT)

MPs' expenses: Alan Duncan cleared of breaking rules with mortgage claims
Shadow prisons minister cleared of breaking the rules on expenses by a committee of MPs despite failing to produce mortgage documents. (Thu, 05 Nov 2009 21:33:38 GMT)

Ohio Attorney General Richard Cordray and mortgage serving company exchange lawsuits
Ohio Attorney General Richard Cordray and a mortgage servicing company filed dueling lawsuits Thursday over state allegations that the firm misled and gouged borrowers while restructuring their loans. (Thu, 05 Nov 2009 22:22:18 GMT)

14. ABM: No price war in mortgage rates pricing
PETALING JAYA: The Association of Banks in Malaysia (ABM) has refuted there was a price war brewing in the pricing of mortgage rates. (Fri, 06 Nov 2009 00:05:14 GMT)

No price war in mortgage rates pricing
PETALING JAYA: The Association of Banks in Malaysia (ABM) has refuted there was a price war brewing in the pricing of mortgage rates. Responding to an English daily quoting research house HwangDBS Vic... (Fri, 06 Nov 2009 02:00:19 GMT)

Mortgage rates dip below 5 percent
Rates for 30-year home loans dipped below 5 percent this week after rising for three straight weeks. The average rate fell to 4.98 percent from 5.03 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates had hovered below 5 percent for nearly a month until inching upward two weeks ago. They hit a record low of 4.78 percent in the spring but are still attractive for people ... (Fri, 06 Nov 2009 02:40:52 GMT)

Mortgage fraud case appears headed to jury in Jackson County Circuit Court
The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.Jurors likely will begin deliberations today after lawyers give their closing arguments in Jackson County Circuit Court.Wilson, 38, and Williams, 46, are... (Fri, 06 Nov 2009 04:25:54 GMT)

Mortgage lender Fannie Mae posts nearly $19 bn loss
Washington, Nov 6 (DPA) US mortgage lender Fannie Mae said Thursday that it would seek $15 billion in federal aid, after posting its ninth consecutive quarterly loss. (Fri, 06 Nov 2009 05:51:12 GMT)

South Korea says mortgage loan growth slows in Oct
SEOUL, Nov 6 (Reuters) - South Korea said on Friday that growth in mortgage lending slowed for a third consecutive month in October in the wake of government regulatory measures aimed at averting a property price bubble. (Fri, 06 Nov 2009 07:11:34 GMT)

Mortgage rate returns to sub-5 percent territory
The nation's benchmark mortgage rate is back below 5 percent. (Fri, 06 Nov 2009 09:38:36 GMT)

Mortgage Rates Down
Rates for 30-year home loans dipped below 5 percent this week after rising for three straight weeks. The average rate fell to 4.98 percent from 5.03 percent a week earlier, mortgage company Freddie Mac said Thursday. (Fri, 06 Nov 2009 11:26:06 GMT)

Ohio alleges mortgage servicer failing to modify loans
Ohio officials are suing a mortgage-service company that they say has failed to help borrowers modify loans and save their homes. It's the second such suit filed by the state this year, and it prompted legal action by the company in response. (Fri, 06 Nov 2009 11:38:14 GMT)

Ex-broker pleads guilty in mortgage case
Associated Press - November 6, 2009 6:54 AM ET ATLANTA (AP) - A former real estate broker has pleaded guilty to charges that he committed mortgage fraud, operated a real estate investment scam... (Fri, 06 Nov 2009 11:59:15 GMT)

Mortgage rates for 30-year loans drop to 4.98%
NEW YORK — Mortgage rates for 30-year fixed U.S. home loans fell for the first time in a month this week as the Federal Reserve pledged to keep its benchmark rate near zero. (Fri, 06 Nov 2009 13:10:07 GMT)

Former Georgia Mortgage Broker Pleads Guilty To $20 Million Mortgage Fraud
Edward William Farley, 47, of Hoschton, Ga., has pleaded guilty in federal district court to committing a mortgage fraud, a real estate investment “Ponzi” scam involving over 150 victims, a check-kiting scheme and a bankruptcy fraud. (Fri, 06 Nov 2009 13:35:10 GMT)

30-year mortgages dip below 5% again
The average interest in a Freddie Mac survey of lenders is 4.98%, down from 5.03% a week ago. The fixed rate on a 15-year mortgage drops slightly to 4.4%. The average interest rate on traditional 30-year fixed-rate mortgages fell back below 5% this week, Freddie Mac said Thursday. (Fri, 06 Nov 2009 13:48:31 GMT)

SBI extends 8 pc home loan scheme to March 2010
Mumbai, Nov 6 (PTI) India's largest lender State Bank of India has extended its special home loan scheme at 8 per cent interest rate by over four months to March 31, 2010, a move which would provide relief to small home loan borrowers. (Fri, 06 Nov 2009 13:54:12 GMT)

SBI extends home loan campaign
Mumbai, Nov 6 : Bringing cheer to home loan seekers, the State Bank of India today announced extension of its My Home Campaign offering lower interest rates till March 31, 2009. (Fri, 06 Nov 2009 15:14:52 GMT)

Spencer J. Lumia Joins HomeBanc as Mortgage Loan Officer
TAMPA, FL--(Marketwire - November 6, 2009) - Tampa-based HomeBancorp, Inc. has named Spencer J. Lumia as Mortgage Loan Officer for HomeBanc. He is based in HomeBanc's Rocky Point office in Tampa, located at 7650 Courtney Campbell Causeway. Mr. Lumia brings to HomeBanc more than seven years of mortgage lending experience. He has a Bachelor's degree in Marketing from The University of South ... (Fri, 06 Nov 2009 15:15:27 GMT)

SBI extends 8% home loan scheme to March 2010
India's largest lender State Bank of India (SBI) has extended its special home loan scheme at 8 per cent interest rate by over four months to March 31, 2010, a move which would provide relief to small home loan borrowers. (Fri, 06 Nov 2009 15:15:46 GMT)

National City Mortgage to adopt PNC name
National City Mortgage to adopt PNC name (Fri, 06 Nov 2009 16:06:56 GMT)

Mortgage lender seeks US$15b (Business Times
WASHINGTON: US state-controlled mortgage lender Fannie Mae posted another multibillion-dollar quarterly loss on Thursday and said it needed an additional US$15 billion in taxpayer funds.(US$1 = RM3.41) (Fri, 06 Nov 2009 16:16:29 GMT)

Ex-broker pleads guilty in mortgage case
A former real estate broker has pleaded guilty to charges that he committed mortgage fraud, operated a real estate investment scam and was involved in a check-kiting scheme and bankruptcy fraud. (Fri, 06 Nov 2009 16:53:18 GMT)

Do you have a reverse mortgage?
If you have a reverse mortgage on your home, are considering getting one, or have decided not to get (Fri, 06 Nov 2009 18:49:34 GMT)

CORRECT: Wells Fargo Says Loan Modifications Help Home Prices
("Wells Fargo CEO: Bank's Loan Modifications Help Home Prices," published at 12:46 p.m. EST, incorrectly described the rates of foreclosures in pools of mortgages serviced by Wells Fargo and other large mortgage servicers in the third paragraph. The correct version follows.) (Fri, 06 Nov 2009 19:34:11 GMT)

Insurers Win Regulator Relief on Home-Loan Securities (Update2)
Nov. 6 (Bloomberg) -- MetLife Inc. , the biggest U.S. life insurer, and smaller rivals won capital relief as regulators agreed to disregard ratings by firms such as Standard & Poor’s when evaluating holdings of securities tied to home loans. (Fri, 06 Nov 2009 20:12:27 GMT)

AIG Taps Treasury for $4.2 Billion for ILFC, Mortgage Insurer
Nov. 6 (Bloomberg) -- American International Group Inc. , the insurer rescued by the U.S., tapped the Treasury Department for another $4.2 billion to help restructure its money-losing mortgage guarantor and the plane unit it’s trying to sell. (Fri, 06 Nov 2009 20:55:39 GMT)

Even with bad credit it may be time to refinance
Even with bad credit it may be time to refinance By BOB KIEBER special to the daily Over the past 12 months I have been busy with many clients who have refinanced their home mortgage. They have reduced their monthly payments, reduced their nontax deductible debt and consolidated mortgages. The one thing in common with most of these homeowners is the fact that most of them have a stellar credit ... (Fri, 06 Nov 2009 21:05:29 GMT)

Facilitating home-buying process is a passion for loan officer from Gates
Mortgage loan officer Michael Davis is a firm believer that Rochester is one of the best places in America to be a homeowner and raise a family. (Fri, 06 Nov 2009 22:21:05 GMT)

Freddie Mac posts $5 billion loss
Freddie Mac , the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing. (Sat, 07 Nov 2009 00:00:47 GMT)

Mortgage finance giant loses $6.3B, won't seek new aid
WASHINGTON – US mortgage finance giant Freddie Mac said Friday it lost $6.3 billion for shareholders in the third quarter but would not seek any additional bailout funds from the government. (Sat, 07 Nov 2009 01:48:11 GMT)

More mortgage pain as WA giants raise rates
WA's two most prominent mortgage lenders have followed the lead of the big four banks and raised their loan interest rates. (Sat, 07 Nov 2009 01:55:10 GMT)

Impac Mortgage Holdings, Inc. Announces Upcoming Release of Third Quarter 2009 Earnings and Conference Call
IRVINE, Calif., Nov. 6 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings, Inc. (Pink Sheets: IMPM), a Maryland corporation, or the "Company," announces the scheduling of a conference call an... (Sat, 07 Nov 2009 02:51:01 GMT)

Mortgage President Admits to Fraud
A mortgage-firm owner could face up to 30 years behind bars after pleading guilty to cheating a Sabine Parish bank out of $2.9 million. (Sat, 07 Nov 2009 03:25:56 GMT)

New HUD rules aim to get rid of closing cost surprises
Starting Jan. 1, loan charges and settlement fees will be spelled out on a revised version of the good-faith estimates form that borrowers are supposed to get after their mortgage applications. Remember the bad old days of 11th-hour mortgage cost shocks and mystery junk-fee charges? Remember when the "good-faith estimates" your lender gave you upfront said closing costs would be about $2,000 ... (Sat, 07 Nov 2009 04:18:01 GMT)

Even with bad credit it may be time to refinance
Even with bad credit it may be time to refinance By BOB KIEBER special to the daily Over the past 12 months I have been busy with many clients who have refinanced their home mortgage. They have reduced their monthly payments, reduced their nontax deductible debt and consolidated mortgages. The one thing in common with most of these homeowners is the fact that most of them have a stellar credit ... (Sat, 07 Nov 2009 04:51:11 GMT)

Defense argues there were no damages in mortgage fraud case
Defense lawyers in a weeklong mortgage fraud case argued Friday no one suffered any damage as part of what prosecutors say was a plot to scam lenders."All the witnesses that had anything to say about loss said they didn't have... (Sat, 07 Nov 2009 04:56:21 GMT)

Putting 'good faith' back in closing
Remember the bad old days of 11th-hour mortgage settlement cost shocks and mystery junk fees? Remember when the "good-faith estimates" your lender gave you upfront said closing costs would be about $2,000, but somehow they ballooned to $3,500 on the final settlement sheet? (Sat, 07 Nov 2009 05:00:00 GMT)

Days of surprise closing fees are about to be over
Remember the bad old days of 11th-hour mortgage settlement cost shocks and mystery junk-fee charges? (Sat, 07 Nov 2009 05:01:40 GMT)

Surprise mortgage fees set to come to an end soon
Remember when the “good-faith estimates” your lender gave you upfront said closing costs would be about $2,000, but somehow they ballooned to $3,500 on the final settlement sheet? Worse yet, you had to come up with the extra money to handle the surprise costs, or the home purchase or refinancing could not proceed. Those days are still here—consumers continue to be unprotected from closing cost ... (Sat, 07 Nov 2009 05:17:15 GMT)

Freddie Mac posts US$5 billion loss
NEW YORK, Nov 7 — Freddie Mac, the second largest provider of US residential mortgage funding, yesterday posted a loss of US$5 billion (RM17.5 billion) in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing. Increases in the value of securities Freddie Mac held over the period helped buoy its net worth, however, erasing its need to ... (Sat, 07 Nov 2009 05:48:12 GMT)

Former Taylor Bean customers find mortgage checks not being credited
Some ex-Taylor Bean customers find their cashed mortgage checks not credited. (Sat, 07 Nov 2009 08:31:20 GMT)

Freddie Mac posts US$5 billion loss
NEW YORK, US (Reuters) - Freddie Mac (FRE.N) (FRE.P), the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of US$5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing. (Sat, 07 Nov 2009 09:09:56 GMT)

Sunday November 08 2009
NEW YORK, Nov 7 — Freddie Mac, the second largest provider of US residential mortgage funding, yesterday posted a loss of US$5 billion (RM17.5 billion) in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing. (Sat, 07 Nov 2009 18:24:22 GMT)

Axis Bank’s home loan exhibitions
CHENNAI: Axis Bank is organising “home for all” expo at major locations across the country. This follows the tremendous success of a similar expo organised last year. These expositions will showcase a wide array of properties, ... (Sat, 07 Nov 2009 19:05:31 GMT)

Tax bill snafu: Refund or Bridgeport windfall?
BRIDGEPORT -- It's like clockwork. Twice a year, the bank holding the mortgage for the house at 394 Fairview Ave. pays the city the taxes owed. But what happens when they overpay? (Sat, 07 Nov 2009 19:37:42 GMT)

Money Talk: Consider these factors before refinancing loan
Dear Liz: When does it make sense to refinance a home? I have a 30-year, fixed-rate jumbo loan. The loan is just over 2 years old with a rate of 6.5 percent. Should I refinance to 5.75 percent with zero points? (Sat, 07 Nov 2009 21:37:58 GMT)

'Paid in full' but left in a lurch
Borrowers face foreclosure after title company fails to pay off original mortgages In early April, Jeff Franson refinanced his mortgage, switching it from Chase to SecurityNational Mortgage Co. (Sat, 07 Nov 2009 23:57:15 GMT)

James Overstreet: Mortgage Crisis II looming?
The bear lurking $@ in the market continues to be the mortgage crisis — and it’s poised to attack again. Defaulting subprime mortgages mauled the economy in 2008, triggering the economic meltdown. Less risky mortgages (Alt-A and Option ARM loans) are scheduled to reset next year and in 2011. So the economy faces increasing foreclosures, higher housing inventories and more bank losses ... (Sun, 08 Nov 2009 03:33:07 GMT)

Nonprofit loan fund gets boost
Before the New Hampshire Community Loan Fund began lending to low-income residents 25 years ago, owning a manufactured home and the land it sat on was tricky. Short-term, high-interest loans made it nearly impossible. (Sun, 08 Nov 2009 06:23:54 GMT)

Harney: New rules will help limit last-minute jumps in closing costs
Remember the bad old days of 11th-hour mortgage settlement cost shocks and mystery junk-fee charges? (Sun, 08 Nov 2009 07:13:16 GMT)

The refinancing quandary: Mortgage rates are low, but not everyone should jump
Mortgage rates are once again below 5 percent. Should you refinance? Nationally, the average rate for 30-year fixed-rate home loans fell to 4.97 percent in the week that ended Oct. (Sun, 08 Nov 2009 07:15:37 GMT)

New HUD rules aim to get rid of closing cost surprises
Starting Jan. 1, loan charges and settlement fees will be spelled out on a revised version of the good-faith estimates form that borrowers are supposed to get after their mortgage applications. Remember the bad old days of 11th-hour mortgage cost shocks and mystery junk-fee charges? Remember when the "good-faith estimates" your lender gave you upfront said closing costs would be about $2,000 ... (Sun, 08 Nov 2009 08:04:46 GMT)

Facilitating home-buying process is a passion for loan officer from Gates
Mortgage loan officer Michael Davis is a firm believer that Rochester is one of the best places in America to be a homeowner and raise a family. (Sun, 08 Nov 2009 08:07:05 GMT)

Mailbag: Refinance to pay off credit cards
Dear Benny - We will soon have our mortgage paid off. Our home is valued at $120,000. Unfortunately, we owe about $50,000 in credit-card debt. I took early Social Security and work part time. My husband will take full Social Security next March and continue to work full time. So we had planned to pay extra on the debt with his Social Security check and the fact that we will no longer have a ... (Sun, 08 Nov 2009 08:10:48 GMT)

HAMP offers a quick way to reduce mortgage payments
The frequently used adage of "if it seems too good to be true, it probably is" almost always holds true. But the saying is proving false for many participants in the government's new Home Affordable Modification Program, known as HAMP. (Sun, 08 Nov 2009 08:16:54 GMT)

A mortgage modification might hurt your credit rating
Like many people considering a mortgage modification, David L. of Oakland, Calif., wonders how it will affect his credit score. (Sun, 08 Nov 2009 08:24:45 GMT)

Rates on 30-year loans fall below 5 percent
Rates for 30-year home loans dipped below 5 percent last week after rising for three straight weeks. The average rate fell to 4.98 percent from 5.03 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates had hovered below 5 percent for... (Sun, 08 Nov 2009 08:33:35 GMT)

Bank of Maharasthra cuts loan, deposit rates
Taking cue from bigger banks, state-run Bank of Maharashtra (BoM) has slashed its home and vehicle loan rates and reduced deposit rates across various maturities. (Sun, 08 Nov 2009 11:00:42 GMT)

National mortgage rates
National mortgage rates 30-year fixed 4.98% 0.7 points Last week: 5.03% Month: 4.87% Year: 6.20% 15-year fixed 4.40% 0.6 points (Sun, 08 Nov 2009 11:22:27 GMT)

Bank of Maharasthra cuts loan, deposit rates
Mumbai, Nov 8 (PTI) Taking cue from bigger banks, state-run Bank of Maharashtra has slashed its home and vehicle loan rates and reduced deposit rates across various maturities. (Sun, 08 Nov 2009 11:54:12 GMT)

Real Estate: The anatomy of an eviction
When we go to a closing, the settlement officer explains to the buyer the terms of their mortgage and the buyer's responsibilities regarding their loan. In a nutshell, you often hear those terms described with the phrase, "If you pay you stay, if you don't you won't." (Sun, 08 Nov 2009 12:31:52 GMT)

Default notices rising in upper echelon ZIPs
Mortgage distress is rising in affluent areas around the Bay Area, according to a Chronicle analysis of foreclosure notices. In upscale communities such as Los Altos, Greenbrae and Alamo, where median prices top $1 million, about twice as many households... San Francisco Bay Area - Foreclosure - United States - Los Altos California - California (Sun, 08 Nov 2009 13:44:18 GMT)

Mortgage rates fall for first time in four weeks
Mortgage rates for 30-year fixed U.S. home loans fell for the first time in a month this week as the Federal Reserve pledged to keep its benchmark rate near zero. (Sun, 08 Nov 2009 17:07:44 GMT)

Business : Central Bank Drafting New Mortgage Lending Rules
ABU DHABI — The Central Bank of the UAE is working on drafting new rules to regulate mortgage loans, protect consumers of financial services besides formulating a law for wholesale banking business in the country, said Sultan bin Nasser Al Suwaidi, Governor of the Central Bank. (Sun, 08 Nov 2009 19:22:22 GMT)

Mortgage finance company narrows debt
Government-controlled mortgage finance company Freddie Mac has said it doesn’t want more federal cash even with another quarter of losses. (Mon, 09 Nov 2009 01:42:36 GMT)

Australia Home-Loan Approvals Rise Most in Six Months (Update2)
Nov. 9 (Bloomberg) -- Australian home-loan approvals rose in September by the most in six months, reinforcing the central bank’s decision to increase interest rates last week for a second straight month. (Mon, 09 Nov 2009 01:43:30 GMT)

Home loan approvals jump sharply
Buyers borrow at much higher rate than expected. (Mon, 09 Nov 2009 02:50:46 GMT)

WA leads home loan surge
Rising rates have not stopped West Aussies buying a home, with almost 8000 home loans approved in September. (Mon, 09 Nov 2009 02:52:24 GMT)

Last minute rush fuels home loan surge
The number of new home loans issued surged again in September, as first home buyers raced into the market to beat the reduction in the First Home Owners Grant. (Mon, 09 Nov 2009 02:56:08 GMT)

Freddie Mac loses $6.3B but says it doesn't need more federal cash
Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion. (Mon, 09 Nov 2009 03:08:47 GMT)

Australia Home-Loan Approvals Rise Most in Six Months (Update3)
Nov. 9 (Bloomberg) -- Australian home-loan approvals rose by the most in six months, increasing the central bank’s scope to raise interest rates for a third time this year. (Mon, 09 Nov 2009 04:43:38 GMT)

Time may be up on mortgage fraud cases
Prosecutors may have let too much time pass to indict nearly two dozen people arrested three and a half years ago and charged with a massive mortgage fraud scheme at a Southeastern Clarke County subdivision, some defense attorneys say. (Mon, 09 Nov 2009 05:03:00 GMT)

Home loan surge temporary - economists
The number of home loans surged in September after two straight months of decline, as first home buyers flocked to the market ahead of the October 1 roll back of the first home owner grant. (Mon, 09 Nov 2009 05:28:01 GMT)

Strong home loans support rate rise case
Home-loan demand jumps as first-home buyers rush to take advantage of government handouts, keeping the market on edge for a possible rate rise next month. (Mon, 09 Nov 2009 06:22:24 GMT)

UAE CB drafting new mortgage lending rules
UAE CB drafting new mortgage lending rules (Mon, 09 Nov 2009 06:22:45 GMT)

County plans foreclosure workshop
MOUNT HOLLY - When the county last offered a mortgage foreclosure workshop for residents in August, about 70 residents showed up looking for help. (Mon, 09 Nov 2009 06:58:34 GMT)

Australia Home-Loan Approvals Rise Most in Six Months (Update3)
Nov. 9 (Bloomberg) -- Australian home-loan approvals rose by the most in six months, increasing the central bank’s scope to raise interest rates for a third time this year. (Mon, 09 Nov 2009 07:31:02 GMT)

Mortgage rates fall to 4.98%
WASHINGTON - Rates for 30-year home loans dipped below 5 percent last week after rising for three straight weeks. The average rate fell to 4.98 percent from 5.03 percent a week earlier, mortgage company Freddie Mac said Thursday. (Mon, 09 Nov 2009 07:37:24 GMT)

First Time Buyers Rush to FreeHomeRefi.com as U.S. Home Buyer Tax Credit Is Extended
IRVINE, CA--(Marketwire - 11/09/09) - The Federal Housing Tax Credit of $8,000 for first-time home buyers has been extended, prompting many home buyers to apply with FreeHomeRefi.com, a leading home refinance consumer advocate that also specializes in home purchase loans with no lenders fees. "While most people know us for our incredible home refinancing with no lenders fees or closing costs, we ... (Mon, 09 Nov 2009 11:00:00 GMT)

Unwise to skip second mortgage payment
Some homeowners mistakenly think they can avoid making second-mortgage payments. (Mon, 09 Nov 2009 11:00:00 GMT)

Soldier waiting for mortgage lender to cooperate
A Florida man who fraudulently obtained a $120,000 mortgage on a soldier's Mount Clemens house wants to take responsibility and repay his debt but is waiting on cooperation from the mortgage company. (Mon, 09 Nov 2009 11:10:18 GMT)

First Time Buyers Rush to FreeHomeRefi.com as U.S. Home Buyer Tax Credit Is Extended
IRVINE, CA--(Marketwire - November 9, 2009) - The Federal Housing Tax Credit of $8,000 for first-time home buyers has been extended, prompting many home buyers to apply with FreeHomeRefi.com, a leading home refinance consumer advocate that also specializes in home purchase loans with no lenders fees. "While most people know us for our incredible home refinancing with no lenders fees or closing ... (Mon, 09 Nov 2009 11:16:07 GMT)

'Home loan surge temporary'
The number of home loans surged in September after two straight months of decline. (Mon, 09 Nov 2009 11:25:55 GMT)

Unwise to skip second mortgage payment
Dear Dr. Don, Can a second mortgage foreclose even if the first mortgage is current? My second mortgage is wholly unsecured, meaning the value of my home is less than the balance of my first mortgage. What can the second mortgage lender do if I cannot afford to pay them? (Mon, 09 Nov 2009 11:42:48 GMT)

First-home loan frenzy
LOAN approvals have surged as first-home buyers rush to take advantage of government grants before the First Home Owners Boost expires on December 31. (Mon, 09 Nov 2009 11:47:20 GMT)

First-home loan frenzy
LOAN approvals have surged as first-home buyers rush to take advantage of government grants before the First Home Owners Boost expires on December 31. (Mon, 09 Nov 2009 11:50:24 GMT)

Mortgage Layoffs Outpace Hirings According to MortgageDaily.com Q3 Report
Growth in mortgage servicing jobs was not enough to keep headcount in the mortgage sector from falling, according to the MortgageDaily.com Third Quarter Mortgage Employment Analysis. (Mon, 09 Nov 2009 12:00:00 GMT)

Dubai’s Next Bond Will Be ‘Well Received,’ Ruler Says (Update2)
Nov. 9 (Bloomberg) -- Dubai’s second half of a $20 billion bond program will be “well received,” and those who doubt the unity of Dubai and Abu Dhabi should “shut up,” the emirate’s ruler Sheikh Mohammed Bin Rashid Al-Maktoum said. (Mon, 09 Nov 2009 12:35:16 GMT)

Do you have a reverse mortgage?
If you have a reverse mortgage on your home, are considering getting one, or have decided not to get (Mon, 09 Nov 2009 14:11:49 GMT)

Goldman Sachs Said to Manage Sale of Commercial Mortgage Debt
Nov. 9 (Bloomberg) -- Goldman Sachs Group Inc. is underwriting $400 million of bonds backed by an Ohio real estate company’s shopping centers in the first sale to tap a U.S. program to unlock lending in the commercial mortgage market. (Mon, 09 Nov 2009 14:52:36 GMT)

Federal Home Loan Bank of Atlanta Boosts Housing Market with Disbursement of More Than $9.4 Million in First-time ...
Federal Home Loan Bank of Atlanta announced today that it has disbursed in excess of $9.4 million to more than 1,000 recipients through its 2009 First-time Homebuyer Program , providing critical and timely economic support to the housing market. (Mon, 09 Nov 2009 16:08:00 GMT)

With backlog continuing to grow, Dolan's mortgage default business is booming
BUSINESS AGENDA With backlog continuing to grow, Dolan's mortgage default business is booming By Brad Allen | Monday, Nov 9, 2009 The grim consumer trend of growing late house payments and Dolan Media’s strong financial performance offer resounding evidence that we haven’t turned the corner yet on mortgage defaults. (Mon, 09 Nov 2009 16:38:47 GMT)

About Real Estate: Co-signing mortgage for kids is not a decision to be taken lightly
b (Mon, 09 Nov 2009 16:58:55 GMT)

Make money in 2010: Your home
The outlook: After three years of slumping house prices, the end of the real estate bust may finally be in sight. Home sales are rising, inventories are shrinking, and most economists believe values nationwide will hit bottom in the second half of the year -- but not before falling another 5% to 10% first. (Mon, 09 Nov 2009 17:50:05 GMT)

Paladin Strategic Partners, LLC Acquires a Controlling Interest in the HomeSaver Mortgage Management, LLC
Paladin Strategic Partners announced today the acquisition of a controlling interest in HomeSaver Mortgage Management, LLC . (Mon, 09 Nov 2009 18:03:00 GMT)

UPDATE -- Strodtman trial continues with mortgage broker testimony
UPDATE -- Strodtman trial continues with mortgage broker testimony Sharon Dunn Testimony in the three-week mortgage fraud trial of Mark Strodtman continued this morning, with defense cross-examination of Charles Brandt, a mortgage broker who testified on Friday for the prosecution under an immunity agreement. Strodtman is on trial for 11 counts of forgery, 11 counts of theft and one count of ... (Mon, 09 Nov 2009 18:13:10 GMT)

Military Loan Program Expands
A state-run loan program is expanding to help Illinois service members when their deployments end. State Treasurer Alexi Giannoulias announced Monday that Illinois National Guard and U.S. Military Reserve members now will be eligible for low-interest loans of up to $10,000 when they return home. (Mon, 09 Nov 2009 18:13:57 GMT)

BofA extends $184B credit in third quarter
Bank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain. (Mon, 09 Nov 2009 19:02:10 GMT)

Construction company owner charged in mortgage fraud scheme
WAXHAW, N.C. -- A local construction company owner is now charged in a mortgage fraud scheme targeting expensive homes in Waxhaw. (Mon, 09 Nov 2009 20:09:33 GMT)

4 NYC homeowners sue over mortgage program
Associated Press - November 9, 2009 3:05 PM ET NEW YORK (AP) - Four New York City homeowners have filed a lawsuit charging they were denied access to a federal home-refinancing program. (Mon, 09 Nov 2009 20:22:34 GMT)

Fla. AG sues 2 companies in alleged mortgage scams
Florida attorney general's office sues 2 companies for alleged mortgage scams (Mon, 09 Nov 2009 20:24:09 GMT)

11/9 Grand Opening for New Mortgage Company in Beaumont
Beaumont is home to a new mortgage company in Southeast Texas. Keller Williams Realty held a ribbon cutting ceremony Monday morning for its grand opening. (Mon, 09 Nov 2009 20:50:50 GMT)

UPDATE -- Mortgage broker said he, too, received kickbacks
UPDATE -- Mortgage broker said he, too, received kickbacks Sharon Dunn The mortgage broker who worked almost exclusively with a Greeley builder to fund home sales in the Gateway lakes subdivision for almost three years told a Weld District Court j ury on Monday that he accepted kickbacks for his own home. Charles Brandt spent the morning on the stand under cross examination by Mark Strodtman's ... (Mon, 09 Nov 2009 21:13:44 GMT)

4 NYC homeowners sue over mortgage program
Four New York City homeowners have filed a lawsuit charging they were denied access to a federal home-refinancing program. (Mon, 09 Nov 2009 21:32:24 GMT)

4 NYC homeowners file lawsuit charging they were denied access to mortgage program
NEW YORK - Four New York City homeowners have filed a lawsuit charging they were denied access to a federal home-refinancing program. The plaintiffs are homeowners in Brooklyn and Queens who have mortgages serviced by Aurora Loan Services. (Mon, 09 Nov 2009 21:34:53 GMT)

4 NYC homeowners sue over mortgage program
NEW YORK — Four New York City homeowners have filed a lawsuit charging they were denied access... (Mon, 09 Nov 2009 21:49:22 GMT)

4 NYC homeowners sue over mortgage program
Four New York City homeowners have filed a lawsuit charging they were denied access to a federal home-refinancing program. The plaintiffs are homeowners in Brooklyn and Queens who have mortgages serviced by Aurora Loan Services. They are charging that Aurora... Brooklyn - Queens - United States - New York - New York City (Mon, 09 Nov 2009 22:15:39 GMT)

4 NYC homeowners sue over mortgage program
Four New York City homeowners have filed a lawsuit charging they were denied access to a federal home-refinancing program. The plaintiffs are homeowners in Brooklyn and Queens who have mortgages serviced by Aurora Loan Services. They are charging tha... (Mon, 09 Nov 2009 22:42:54 GMT)

UPDATE -- Mortgage broker said he, too, received kickbacks
UPDATE -- Mortgage broker said he, too, received kickbacks Sharon Dunn The mortgage broker who worked almost exclusively with a Greeley builder to fund home sales in the Gateway lakes subdivision for almost three years told a Weld District Court j ury on Monday that he accepted kickbacks for his own home. Charles Brandt spent the morning on the stand under cross examination by Mark Strodtman's ... (Mon, 09 Nov 2009 23:08:57 GMT)

NYC homeowners sue mortgage company
Four Brooklyn and Queens residents are suing Aurora Loan Services, alleging the company denied them access to a federal home-financing program. (Mon, 09 Nov 2009 23:18:59 GMT)

4 NYC homeowners sue over mortgage program
4 NYC homeowners file lawsuit charging they were denied access to mortgage program (Mon, 09 Nov 2009 23:40:15 GMT)

Mortgage Choice propels Count profit 150% higher
Count Financial said it expects its first-half net profit for 2009-10 to be 150 per cent above the previous corresponding result due to its turnaround of Mortgage Choice. (Tue, 10 Nov 2009 00:29:46 GMT)

Mortgage market cools in October: index
The mortgage market contracted in October after buyers were spooked by the first increase in interest rates in 19 months, a survey found. (Tue, 10 Nov 2009 03:44:25 GMT)

Horizon City Man Says Mortgage Company Took His Money
A Horizon City man claims a mortgage company took advantage of him at the most vulnerable time in his life. (Tue, 10 Nov 2009 03:51:30 GMT)

Mortgage market cools as rate rise spooks
The mortgage market contracted 11.5 per cent in October, according to a survey. (Tue, 10 Nov 2009 03:52:24 GMT)

Pair from Jackson found guilty of racketeering in mortgage fraud case
Angelo Surveo Williams and Teresa Marie Wilson were found guilty Monday of racketeering and using false pretenses to acquire $20,000 or more after a weeklong mortgage fraud case.Racketeering, the most serious charge, carries a maximum penalty of 20 years in... (Tue, 10 Nov 2009 04:56:24 GMT)

Military loan program expanding in Illinois
State Treasurer Alexi Giannoulias is expanding a state-operated loan program that aims to help military veterans regain their financial footing once they return home from deployment. (Tue, 10 Nov 2009 06:10:58 GMT)

Lessons learned: Going back to mortgage finance basics
09 November 2009 CAIRO: With Egypt's demand for affordable housing growing and a thirst for the development of the mortgage industry, the American Chamber of Commerce hosted an event yesterday to bring the lessons learned from the US housing boom and subsequent collapse to Egypt. (Tue, 10 Nov 2009 06:20:39 GMT)

Thirty-Year Fixed Mortgage Rates Stable at Near-Record Lows
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased two basis points last week to 4.84 (Tue, 10 Nov 2009 13:00:00 GMT)

US Treasury Releases State Data On Home-Loan Adjustments
WASHINGTON -(Dow Jones)- The U.S. Treasury Department on Tuesday released state-specific data on its trial home-loan modification program that shows California is the leading state with more than 134,000 active modifications. (Tue, 10 Nov 2009 16:03:50 GMT)

Chase to Hire 1,200 Mortgage Officers to Help Families Buy, Refinance Homes
ISELIN, N.J.----Chase, one of the nation’s leading home lenders, today announced that it plans to hire 1,200 mortgage loan officers by the end of 2010, increasing the sales force 60 percent to help more Chase customers finance home purchases or reduce their monthly payments through refinances. (Tue, 10 Nov 2009 16:05:00 GMT)

Mortgage-modification plan reaches 1 in 5 eligible borrowers, report says
WASHINGTON — After a slow start, the Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says. (Tue, 10 Nov 2009 16:47:33 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
(AP:ISELIN, N.J.) JPMorgan Chase says it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales force. The workers are needed as the company aggressively goes after new home mortgage business and customers refinancing their home loans. (Tue, 10 Nov 2009 18:09:46 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
ISELIN, N.J. (AP) - JPMorgan Chase says it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales force. The workers areneeded as the company aggressively goes after new home mortgage business and customers refinancing their home loans. (Tue, 10 Nov 2009 18:09:56 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
JPMorgan Chase said Tuesday it will hire 1,200 mortgage loan officers by the end of next year, a 60% increase in its sales force. (Tue, 10 Nov 2009 18:10:33 GMT)

U.S. Says Mortgage Help Reaching More Homeowners
After a slow start, the Obama administration’s mortgage relief program has reached one in five eligible homeowners, a government report said. (Tue, 10 Nov 2009 18:15:46 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
JPMorgan Chase & Co. said Tuesday it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales force. The workers are needed as the company aggressively goes after new home mortgage business and customers refinancing... Business - JPMorgan Chase - Mortgage loan - Financial Services - Refinancing (Tue, 10 Nov 2009 18:17:08 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
Associated Press - November 10, 2009 1:05 PM ET ISELIN, N.J. (AP) - JPMorgan Chase says it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales... (Tue, 10 Nov 2009 18:17:16 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
JPMorgan Chase to hire 1,200 mortgage officers by end of 2010 to boost new loans, refinancing (Tue, 10 Nov 2009 18:54:42 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
JPMorgan Chase & Co. said it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales force. (Tue, 10 Nov 2009 19:08:57 GMT)

Treasury Says 650,000 In Trial Home Loan Workouts
About 20 percent of struggling homeowners eligible for loan workouts have entered into a trial modification, but it is unclear how many of them will be able to keep the lower payments permanently, the Treasury Department said on Tuesday. (Tue, 10 Nov 2009 19:10:55 GMT)

Chase to hire 1,200 mortgage officers
JPMorgan Chase & Co. said Tuesday it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales force. The workers are needed as the company aggressively goes after new home mortgage business and customers refinancing their home loans. Through organizational changes and additional systems, the company has [...] (Tue, 10 Nov 2009 19:12:00 GMT)

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