Mortgage News Nov 2009

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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 their home loans. (Tue, 10 Nov 2009 19:18:59 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 their home loans. (Tue, 10 Nov 2009 19:21:47 GMT)

JPMorgan Chase to hire 1,200 mortgage officers
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. (Tue, 10 Nov 2009 19:28:13 GMT)

Judge issues injunction against Dallas mortgage-relief operator
Judge issues injunction against Dallas mortgage-relief operator (Tue, 10 Nov 2009 19:36:50 GMT)

Treasury says 650,000 in trial home loan workouts
About 20 percent of struggling U.S. 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 19:56:41 GMT)

PennyMac’s Kurland Plans New Effort in Mortgage Originations
Nov. 10 (Bloomberg) -- PennyMac Mortgage Investment Trust , the buyer of troubled housing debt, expects to start purchasing newly issued loans and packaging them into bonds by the middle of next year, Chief Executive Officer Stanford Kurland said. (Tue, 10 Nov 2009 20:07:37 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. (Tue, 10 Nov 2009 20:16:34 GMT)

Chase to Hire 1,200 Mortgage Officers to Help Families Buy, Refinance Homes
RISMEDIA, November 11, 2009—Chase, one of the nation’s leading home lenders, announced that it plans to hire 1,200 mortgage loan officers by the end of 2010, increasing the sales force 60% to help more Chase customers finance home purchases or reduce their monthly payments through refinances. “We have made a number ... (Tue, 10 Nov 2009 21:29:01 GMT)

J.P. Morgan to hire mortgage officers in Michigan
The Michigan market of New York-based J.P.Morgan Chase will hire 16 new mortgage officers this year and plans additional hiring for next year, Mary Kay Bean, the bank’s senior communications officer in Detroit, said Tuesday. (Tue, 10 Nov 2009 22:28:19 GMT)

PennyMac’s Kurland Plans New Effort in Mortgage Originations
Nov. 10 (Bloomberg) -- PennyMac Mortgage Investment Trust , the buyer of troubled housing debt, expects to start purchasing newly issued loans and packaging them into bonds by the middle of next year, Chief Executive Officer Stanford Kurland said. (Tue, 10 Nov 2009 22:55:25 GMT)

Chase to Hire 1,200
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 refinance their home loans. Through organizational changes and additional systems, the company has... (Tue, 10 Nov 2009 23:50:51 GMT)

Mesa man pleads guilty in mortgage fraud scheme
Authorities say a Mesa man has pleaded guilty for his role in a mortgage fraud scheme. (Wed, 11 Nov 2009 00:38:24 GMT)

Help on home loans makes progress
Lenders in the government's Making Home Affordable program have extended mortgage modifications to about 650,000 borrowers since April. (Wed, 11 Nov 2009 02:21:51 GMT)

20 percent of eligible homeowners have signed up for mortgage relief
More than 650,000 homeowners, or 20 percent of those eligible for a federal mortgage relief program, had signed up as of October for trials lasting up to five months, the Treasury Department said Tuesday. The modifications reduce monthly payments to more affordable levels. (Wed, 11 Nov 2009 03:52:03 GMT)

Report says 1 in 5 is on mortgage relief
The Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says, but... (Wed, 11 Nov 2009 04:20:33 GMT)

Federal mortgage relief plan reaches 1 in 5 borrowers
WASHINGTON — The Obama administration’s mortgage relief program has reached one in five eligible homeowners, a government report says, but most of those borrowers are on temporary trial plans that have yet to be made final. (Wed, 11 Nov 2009 05:01:28 GMT)

5 pct. of Americans plan to buy a home next year
Just one in 20 Americans say they plan to buy a home within the next year, and they're most likely to be 34 years old or younger and living in the South or West, according to a survey released Wednesday. (Wed, 11 Nov 2009 05:01:37 GMT)

Trial mortgage modifications offered to nearly 1 million
Lenders in the government's Making Home Affordable program have extended mortgage modifications to more than 650,000 delinquent borrowers since April a fifth of those eligible, the government reported Tuesday. (Wed, 11 Nov 2009 06:27:04 GMT)

San Diego Real Estate and Mortgage Firm, Catalyst Direct Funding, Announces Official Grand Opening
Catalyst Direct Funding recently opened its doors. The niche firm offers mortgage lending, mortgage refinancing and investment planning services in San Diego. (Wed, 11 Nov 2009 07:00:00 GMT)

Federal mortgage relief reaching 1 in 5 borrowers
The Obama administration's mortgage-relief program has reached one in five eligible homeowners, a government report says, but most of those borrowers are on temporary trial plans that have yet to be made final. (Wed, 11 Nov 2009 08:17:04 GMT)

The Council of Mortgage Lenders predicts gloomy future for mortgage borrowers
The CML remains unimpressed by the bank restructuring and reckons that many borrowers will struggle to get a mortgage. (Wed, 11 Nov 2009 08:20:59 GMT)

Mortgage relief program sees few permanent takers
The Obama administration’s mortgage relief program has reached 1 in 5 eligible homeowners, a government report says, but most of those borrowers are on temporary trial plans that have yet to be made final. (Wed, 11 Nov 2009 08:25:08 GMT)

4 Steps To Attaining A Mortgage
If you're serious about buying a home, cleaning up your credit should be the first item on your agenda. After going through your credit report , identifying, paying off and closing most of your credit cards, your next step is to shop for a mortgage . In this article, we'll go over the preliminary steps of getting pre-qualified and/or pre-approved for a mortgage, and then we examine the different ... (Wed, 11 Nov 2009 09:12:45 GMT)

How do I know if I should refinance my mortgage?
How do I know if I should refinance my mortgage? The typical rule of thumb is that if you can reduce your current interest rate by 0.75-1% or higher then it might make sense to consider a refinancing move. (Wed, 11 Nov 2009 09:14:56 GMT)

UK mortgage lending rises in September
The number of house purchase loans advanced in the U.K. in September rose 2 percent from August, the third consecutive monthly increase, the Council of Mortgage Lenders said Wednesday. (Wed, 11 Nov 2009 10:21:37 GMT)

5 pct. of Americans plan to buy a home next year
Just one in 20 Americans say they plan to buy a home within the next year, and they're most likely to be 34 years old or younger and living in the South or West, according to a survey released Wednesday. (Wed, 11 Nov 2009 11:32:26 GMT)

Is IRA good source of mortgage cash?
Dear Dr. Don, My husband is 66 years old and is thinking of withdrawing $160,000 from his IRA to pay off our mortgage. Are we responsible for taxes and penalties on this withdrawal? (Wed, 11 Nov 2009 11:42:10 GMT)

Bank Tabungan:Plan Up To IDR1 Trillion Mortgage Backed Securities Next Year
JAKARTA -(Dow Jones)- Indonesian state mortgage provider PT Bank Tabungan Negara said Wednesday it plans to issue between IDR500 billion and IDR1 trillion (up to $100 million) worth of mortgage-backed securities next year. (Wed, 11 Nov 2009 12:03:29 GMT)

Iran Says U.K. to Loan 2,500-Year-Old Cylinder for Three Months
Nov. 11 (Bloomberg) -- Britain has agreed to loan the 2,500-year-old Cyrus Cylinder to Iran for three months, Iran’s state television reported today. The British Museum wouldn’t confirm the report. (Wed, 11 Nov 2009 12:58:20 GMT)

JPM Chase to Add Home Loan Officers
JPMorgan Chase & Co. is planning to hire 1,200 home loan officers by the end of next year, which would boost its sales force by 60% at a time when industrywide volume is expected to drop by as much. (Wed, 11 Nov 2009 13:22:16 GMT)

Poll: Five percent of Americans plan to buy a home next year
Just one in 20 Americans say they plan to buy a home within the next year, and they're most likely to be 34 years old or younger and living in the South or West, according to a survey released Wednesday. (Wed, 11 Nov 2009 13:33:23 GMT)

FoxBusiness: JPMorgan to Hire 12K Mortgage Officers- FoxBusiness: Gold at Record High as Dollar Slides
JPMorgan Chase & Co. (JPM) said Tuesday it will hire a total of 1,200 new mortgage loan officers through the end of 2010 across the nation as the bank continues to work through waves of mortgage refinancings and a housing market on the mend. (Wed, 11 Nov 2009 15:04:37 GMT)

Mortgage Approvals Continue To Rise
The number of loans for house purchases in September rose by 2% following a dip the previous month, according to the Council of Mortgage Lenders. (Wed, 11 Nov 2009 15:35:12 GMT)

Mortgage Approvals Continue To Rise
The number of loans for house purchases in September rose by 2% following a dip the previous month, according to the Council of Mortgage Lenders. There was a total of 50,600 loans given out during t... (Wed, 11 Nov 2009 17:50:50 GMT)

Abq. Woman Enters Guilty Plea In Mortgage Fraud
A three year investigation into mortgage fraud has ended with a guilty plea entered by an Albuquerque woman. (Wed, 11 Nov 2009 18:45:21 GMT)

Reserve Bank urges refrain from return to riskier mortgage lending
There has been a warning from the Reserve Bank to the banking sector not to return to the riskier mortgage lending practices of the past. (Wed, 11 Nov 2009 18:47:37 GMT)

Home Loan Modification Experts Home Rescue LLC Receives Better Business Bureau Accreditation
Maryland based home loan modification advisers Home Rescue LLC has received its BBB accreditation in October 2009. From a scale of A+ to F, the company has been awarded an A- rating with points reduced only because the company is relatively new and has been operational since July 2008. However, the fact that Home Rescue LLC is a new company founded during the new rules of the home economy ... (Wed, 11 Nov 2009 19:20:11 GMT)

Affordable Refinance Program
The Home Affordable Refinance Program is one option to consider if you or someone you know is having difficulty making your monthly mortgage payment. Sacramento Realtor Julie Jalone, owner of MagnumOne Realty in Roseville explains this program and other options. (Wed, 11 Nov 2009 20:02:58 GMT)

ProPublica: Mortgage Modification Program: The Latest Numbers
By Paul Kiel, ProPublica. The administration’s $75 billion mortgage modification program is meant to help 3 million to 4 million homeowners avoid foreclosures. The latest... (Wed, 11 Nov 2009 22:18:04 GMT)

The Homeowner Bailout That's Working
Obama's complicated modification program has been ineffectual, but a straightforward effort to lower mortgage rates has borne fruit. (Wed, 11 Nov 2009 22:42:22 GMT)

Recent mortgage lending rises come to a halt
The Council of Mortgage Lenders has said the recent rise in mortgage lending to home buyers has levelled off. (Thu, 12 Nov 2009 00:27:46 GMT)

L&G Mortgage Club celebrates 15th anniversary
The Club was conceived in 1995, the first of its kind, and has grown to be one of the biggest in the market, with over 8,000 members. It leads the way in broker procuration fees and is still the only mortgage club to offer fees on exchange of contracts, thereby helping financial advisers with their cash flow. (Thu, 12 Nov 2009 00:37:01 GMT)

HLF stirs waters, cuts HDB home loan rates
Hong Leong Finance (HLF) has slashed its HDB home loan rates in a bid to undercut the competition amid a low interest rate environment, but it seems some banks might have been even quicker on the draw. (Thu, 12 Nov 2009 00:57:30 GMT)

Mortgage boost for first-timers
MORTGAGE lending crept up in September as more first-time buyers benefited from the temporary rise in the stamp duty threshold, the Council of Mortgage Lenders (CML) h (Thu, 12 Nov 2009 01:02:15 GMT)

Mortgage lending drops but rate of decline slows
MORTGAGE lending dropped again during the third quarter of this year, but the quarterly rate of decline has slowed significantly since last year, prompting hope that the market may soon pick up. (Thu, 12 Nov 2009 02:05:11 GMT)

Home loan lost in never-never land
Dear Greg: Soon after purchasing our house in Avalon Park in 2006, we saw our property value steadily decrease. It's now valued 40 percent less than what we paid for it. Additionally, my wife left her job to finish school, and we just had our first baby. After the Help for Homeowners/Making Home Affordable program was announced by the White House, I researched the program and its requirements ... (Thu, 12 Nov 2009 04:17:06 GMT)

CalPERS probes loan to build deal maker's mansion
Documents show Alfred Villalobos received a loan through a partnership set up by CIM, a Hollywood real estate developer into which he helped steer millions of the pension fund's dollars. With the fortune he has made using his connections with public pension funds, it's hardly a surprise that Alfred J.R. Villalobos owns a sprawling, 9,100-square-foot home overlooking the emerald-blue waters of ... (Thu, 12 Nov 2009 06:34:17 GMT)

Home loan: Benefit from prepayment
Public sector banks charge 1 to 1.5 percent as prepayment penalty on the outstanding loan amount and in the case of private banks it is between 2 and 4 percent. (Thu, 12 Nov 2009 06:52:34 GMT)

OP Mortgage Bank Offers Price Guidance on Five-Year Covered Bond
Nov. 12 (Bloomberg) -- OP Mortgage Bank, a unit of OP- Pohjola Group Central Cooperative, is selling five-year covered bonds that may be priced to yield 40 to 45 basis points more than the benchmark mid-swap rate, according to a banker involved in the transaction. (Thu, 12 Nov 2009 08:52:29 GMT)

Guyasuta VFD refinancing mortgage through township
In a deal similar to one that failed this summer, O'Hara Council has agreed to refinance the $240,000 mortgage held by Guyasuta Volunteer Fire Department.  read more » (Thu, 12 Nov 2009 09:15:24 GMT)

EBS Mortgage Finance to Sell 1 Billion Euros of Covered Bonds
Nov. 12 (Bloomberg) -- EBS Mortgage Finance, a unit of EBS Building Society, plans to sell 1 billion euros of three-year covered bonds, according to a banker involved in the transaction. (Thu, 12 Nov 2009 10:53:00 GMT)

National home equity loan averages
Here are the average home equity rates from Bankrate's weekly survey of large banks and thrifts. (Thu, 12 Nov 2009 11:00:00 GMT)

There's no free lunch when refinancing
Skipping a payment during the mortgage refinance process results in having to pay up later. (Thu, 12 Nov 2009 11:00:00 GMT)

Mortgage rates near record low
While rates are a hair away from an all-time low, borrowers still need to meet high standards. (Thu, 12 Nov 2009 11:00:00 GMT)

UPDATE: UK CML Upgrades Mortgage, Housing Market Forecasts
LONDON (Dow Jones)--Record low interest rates continue to aid U.K. home owners in their ability to meet their monthly mortgage payments as the number of mortgage payment arrears fell in the third quarter of 2009, data showed Thursday. (Thu, 12 Nov 2009 11:01:19 GMT)

Loan collection agent attacked in Newtownards
Chairman of Ards DPP Councillor Mervyn Oswald has appealed to the general public to remain vigilant after a loan collection agent was assaulted in Newtownards last week. Related Stories Delegation travel to London for ambitious cruise ship plan Community grants available Residents oppose plans for 40-bed nursing home Bangor women visit Republican Museum ASDA parking scheme aims to ease congestion (Thu, 12 Nov 2009 11:06:29 GMT)

Mortgage rates near record low
Mortgage rates are near historic lows, but lenders continue to make it harder to get a home loan. The benchmark 30-year fixed-rate mortgage fell 16 basis points, to 5.19 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 12 Nov 2009 11:42:00 GMT)

Bank of Rajasthan cuts mortgage loans by 100 bps
MUMBAI, Nov 12 (Reuters) - Private sector lender Bank of Rajasthan said on Thursday it has cut mortgage loans by 100 basis points to 12.5 percent. (Thu, 12 Nov 2009 11:57:04 GMT)

MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Thu, 12 Nov 2009 12:01:19 GMT)

Reform mortgage law so that repossession is last resort says Teather
“No Government programme has ever been as inappropriately named as the Mortgage Rescue Scheme," said the Liberal Democrat Shadow Housing Minister. (Thu, 12 Nov 2009 12:01:20 GMT)

Home-purchase mortgage filings plummet: MBA
Refinancings account for the lion's share of mortgage applications filed last week, as the volume of applications for the purchase of a home hits a nine-year low, the latest data from the Mortgage Bankers Association show. (Thu, 12 Nov 2009 12:15:50 GMT)

OP Mortgage Bank to Raise 1.25 Billion Euros From Covered Bonds
Nov. 12 (Bloomberg) -- OP Mortgage Bank, a unit of OP- Pohjola Group Central Cooperative, is selling 1.25 billion euros of five-year covered bonds that will be priced to yield 40 basis points more than the benchmark mid-swap rate, according to a banker involved in the transaction. (Thu, 12 Nov 2009 12:22:49 GMT)

"Main Street" Mortgage Lenders: FHA Critical to Housing Market
WASHINGTON----Community Mortgage Lenders of America today sent a letter to the United States Congress urging continued support for the Federal Housing Administration . The letter is co-signed by a broad coalition of housing finance, consumer, and local government groups. (Thu, 12 Nov 2009 12:30:00 GMT)

(AFX UK Focus) 2009-11-12 12:21 RPT-US mortgage refinancing up but buying demand sinks
By Lynn Adler (Thu, 12 Nov 2009 12:44:05 GMT)

J.D. Power and Associates Reports: Satisfaction With Primary Mortgage Lenders Declines as Time From Application to ...
The average time required to approve and close a loan has increased in 2009 compared with 2008, fueling a decline in overall customer satisfaction with primary mortgage lenders, according to the J.D. (Thu, 12 Nov 2009 13:00:00 GMT)

Bankrate: Mortgage Rates Lowest Since April
Bankrate: Mortgage Rates Lowest Since April (Thu, 12 Nov 2009 13:24:36 GMT)

(AFX UK Focus) 2009-11-12 13:04 STOCKS NEWS US-Mortgage refinancing up, but demand sinks: MBA
Stocks on the move (Thu, 12 Nov 2009 13:28:59 GMT)

Mortgages: Long-term mortgage rates lowest in five weeks
Mortgage rates fall this week, with long-term mortgage rates hitting their lowest levels in five weeks. (Thu, 12 Nov 2009 16:01:11 GMT)

Freddie Mac: 30-year Fixed-rate Mortgage Falls
Freddie Mac: 30-year Fixed-rate Mortgage Falls (Thu, 12 Nov 2009 16:23:32 GMT)

Alabama bank halts mortgage lending
The second-largest thrift in Alabama is suspending mortgage lending amid hefty third-quarter losses as real-estate values moved lower and foreclosure rates turned higher. (Thu, 12 Nov 2009 16:58:35 GMT)

Alabama Bank Halts Mortgage Lending
New South Federal halts mortgage lending amid 3rd-quarter losses, higher foreclosure rates Foreclosure - Mortgage - Business - Financial Services - United States (Thu, 12 Nov 2009 17:16:31 GMT)

Mortgage Rates in U.S. Decline for Second Week (Update2)
Nov. 12 (Bloomberg) -- Mortgage rates for 30-year fixed U.S. home loans fell to the lowest in five weeks, providing a boost to potential buyers and those who want to refinance. (Thu, 12 Nov 2009 17:28:53 GMT)

Refinancing Borrowers Continue To Move To Fixed-Rate Loans
Borrowers refinancing their mortgages continued to turn to fixed-ate loans in the third quarter amid low mortgage rates regardless of the type of prior mortgage, according to Freddie Mac (FRE). (Thu, 12 Nov 2009 19:04:22 GMT)

Mortgage rates drop in week
WASHINGTON, Nov. 12 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell to a five-week low in the week ending Nov. 12, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 12 Nov 2009 19:14:15 GMT)

Mortgage Activity Up With Rates Mixed
The volume of applications for U.S. mortgages increased last week, rising by a seasonally adjusted 3.2 percent, an industry group said. Refinancing activity also increased, rising 11.3, the Mortgage Bankers Association said. (Thu, 12 Nov 2009 19:20:02 GMT)

Pace of Mortgage Help Rising but Still Slow
Swamped with homeowners looking for help, Bank of America shows bumps in Obama mortgage plan Bank of America - Business - Financial services - United States - Goldman Sachs (Thu, 12 Nov 2009 20:17:01 GMT)

European regulations threaten crucial £140m government loan
• EU rules threaten to delay crucial government loan • Sheffield firm could lose key manufacturing contract European rules on state aid are delaying the completion of a crucial £140m government loan, which would allow British manufacturers to help build new nuclear reactors at home and abroad. Lord Mandelson's business department is hoping Sheffield Forgemasters International will have the ... (Thu, 12 Nov 2009 20:19:31 GMT)

Mortgage applications at 9-year low
Mortgage applications for home purchases fell to a nine-year low last week, despite a decrease in interest rates for 30-year, fixed-rate mortgages. (Thu, 12 Nov 2009 20:25:20 GMT)

Maximize Mortgage Strategies at HMB Library
By Joe Toschik: The Bay Area chapter of SOFA (Society for Financial Awareness) will be presenting the program MAXIMIZING THE RIGHT MORTGAGE STRATEGY at the Half Moon Bay Library on Sunday November 15th at 2:00PM.  This program will focus on what to look for in a foreclosure, how to evaluate your refinancing options, and other timely mortgage concerns and strategies. (Thu, 12 Nov 2009 20:46:18 GMT)

Looking to refinance? Watch your credit score
Thinking again refinancing your mortgage? If your credit score isn’t stellar, think again. Home mortgage lenders use credit scores when determining refinance eligibility, and applicants with sub-700 credit scores may be denied. (Thu, 12 Nov 2009 20:46:59 GMT)

Looking to refinance? Watch your credit score
Thinking again refinancing your mortgage? If your credit score isn’t stellar, think again. Home mortgage lenders use credit scores when determining refinance eligibility. (Thu, 12 Nov 2009 20:49:13 GMT)

Homebuilders slide on mortgage applications report
Shares of homebuilders slid Thursday after the Mortgage Bankers Association said the volume of mortgage loan applications filed to purchase homes dropped last week to the lowest level in nine years. (Thu, 12 Nov 2009 21:02:38 GMT)

US Home Loan Advocates Demand Doubles
WESTLAKE VILLAGE, Calif.----US Home Loan Advocates, Inc. , the only loan modification company in California endorsed nationwide by the National Association of Mortgage Brokers , reports business has doubled since the passage of Senate Bill 94. (Thu, 12 Nov 2009 22:58:00 GMT)

Home Loan Investment Bank of Warwick gets $10 million infusion
Home Loan Investment Bank of Warwick gets capital to help cover losses from loans (Thu, 12 Nov 2009 23:17:15 GMT)

Pace of mortgage help rising but still slow
Swamped with homeowners looking for help, Bank of America shows bumps in Obama mortgage plan (Fri, 13 Nov 2009 01:08:05 GMT)

Home purchase loan applications are at a low not seen since 2000, report says
Buyers are few despite interest rates dropping to their lowest point in five weeks, according to the Mortgage Bankers Assn. But there's plenty of refinancers. Mortgage interest rates are at their lowest levels in five weeks, and not surprisingly, more people are seeking home loans, two surveys from big industry players show. (Fri, 13 Nov 2009 03:47:49 GMT)

First home buyers hit by grant reduction
A reduction in the first home buyers grant and tighter lending conditions have made it harder for first time home buyers to get a home loan, a broker says. (Fri, 13 Nov 2009 05:09:01 GMT)

Fixed-rate mortgage at 5-week low
It got cheaper to buy a house this week. The average rate for a 30-year fixed-rate mortgage fell to 4.91 percent, the lowest level in five weeks, and down from 4.98 percent last week and 6.14 percent a year earlier.That's according to the weekly report from mortgage giant Freddie Mac . On a $200,000 mortgage, the year-over-year decline takes the monthly payment down $154.49 to $1,062.67 from $1 ... (Fri, 13 Nov 2009 11:22:02 GMT)

Home buyers hit by grant reduction
A reduction in the first home buyers grant has made it harder for first time home buyers to get a home loan. (Fri, 13 Nov 2009 11:27:13 GMT)

Mortgage lending drops but rate of decline slows
MORTGAGE lending dropped again during the third quarter of this year, but the quarterly rate of decline has slowed significantly since last year, prompting hope that the market may soon pick up. (Fri, 13 Nov 2009 11:36:55 GMT)

Loan pair back to boost Town
Shrewsbury Town loan stars Waide Fairhurst and Jamie Devitt have both beaten a sickness bug in time for tomorrow's crunch League Two clash at home to Torquay. (Fri, 13 Nov 2009 12:14:34 GMT)

Miami Mortgage Rescue Firm's Vanishing Act
A South Florida mortgage rescue company that once promised to save your home is accused of taking clients' cash and vanishing into thin air. (Fri, 13 Nov 2009 12:18:57 GMT)

Jon Pain addresses mortgage industry on FSA's mortgage market review proposals
Speaking at the Council of Mortgage Lenders’ Annual Conference, Jon Pain, the Financial Services Authority’s (FSA) managing director of Supervision, said it is important to acknowledge that although the mortgage market worked well for many, it failed for a significant minority. (Fri, 13 Nov 2009 13:06:05 GMT)

How the regulator views the mortgage market
I welcome this opportunity to speak to you about our Mortgage Market Review, which we believe is an important and substantial review and we welcome your continued engagement with it. It is also a pleasure to be back at a CML event, and it is good to see some familiar faces here today. (Fri, 13 Nov 2009 13:06:15 GMT)

FSA sees us as "drugdealers" claim mortgage lenders.
The Council of Mortgage Lenders says regulators see banks as "drugdealers" getting "consumer hooked on credit" (Fri, 13 Nov 2009 14:06:45 GMT)

FSA regards banks as "drugdealers" claim mortgage lenders
Regulator see banks as "drugdealers" getting "consumer hooked on credit" claims Council of Mortgage Lenders (Fri, 13 Nov 2009 14:08:43 GMT)

NH mortgage firm closes
A mortgage company in Meredith, N.H., has shut its doors without notifying its customers. Financial Resources Mortgage Company abruptly closed Monday. (Fri, 13 Nov 2009 14:53:46 GMT)

FSA treats mortgage lenders like 'drug dealers' says CML chief
Britain's financial regulators see lenders as "drugdealers at the school gates" the head of the Council of Mortgage Lenders CML said in an astonishing attack on the Financial Services Authority. (Fri, 13 Nov 2009 15:36:52 GMT)

Home Loan Bank gets $10M after 3Q loss
WARWICK – Troubled lender Home Loan Investment Bank F.S.B. posted a $13.3 million loss in the third quarter, weighed down by a mortgage portfolio riddled with problem loans that has already attracted the attention of federal regulators. (Fri, 13 Nov 2009 15:58:33 GMT)

High-risk mortgage lending rapped
Some specialist mortgage lenders are so reckless that as many as 60% of their borrowers are in arrears, the City regulator says. (Fri, 13 Nov 2009 16:35:12 GMT)

SCAM ALERT: Loan Modification Scams
SCAM ALERT | If you're in danger of losing your home, be careful who you choose to help you renegotiate your loan. (Fri, 13 Nov 2009 17:03:09 GMT)

Insurer Woodmen of the World sues US Bank for $30M in mortgage-backed securities losses
OMAHA, Neb. - Woodmen of the World wants U.S. Bank to pay nearly $30 million for investing some of the insurer's assets in risky mortgage-backed securities that plummeted in value instead of the conservative investments the bank promised. (Fri, 13 Nov 2009 19:03:23 GMT)

HDFC to buy 41% in education loan provider
The country's largest home loan player HDFC Ltd will acquire 41% stake in education loan provider company Credila Financial Services. (Fri, 13 Nov 2009 19:07:52 GMT)

What Is Mortgage Insurance -- And Is It Worth Buying?
What's Your Reaction? What is Mortgage Insurance and Do I Need it? (Associated Content) -- Mortgage insurance is a special insurance policy that pays your lender in the event that you stop making your mortgage payments. (Fri, 13 Nov 2009 20:16:39 GMT)

USDA Rural Development funds 1,000th guaranteed home loan in state
STERLING — “Being able to call some place home is not just for those people who have millions of dollars,” said Katie Barker. (Fri, 13 Nov 2009 20:32:06 GMT)

Vestin Realty Mortgage II Inc. (VRTB) CEO Michael V Shustek buys 35,000 Shares
By insider. President & CEO of Vestin Realty Mortgage II Inc. ( VRTB ) Michael V Shustek buys 35,000 shares of VRTB on 11/11/2009 at an average price of $2.5 a share. Read more » » (Fri, 13 Nov 2009 20:32:56 GMT)

Mortgage Risk Premiums At Pre-Crisis Levels
NEW YORK -(Dow Jones)- Agency mortgage-backed securities ended the day at their lowest risk premiums since before the failure of two Bear Stearns hedge funds in July 2007 set off a precipitous decline, according to FTN Financial. (Fri, 13 Nov 2009 22:34:07 GMT)

Families, Investors Sue Closed Mortgage Company
Allegations of fraud and missing money are being made after a Meredith, N.H., mortgage company closes down. (Fri, 13 Nov 2009 23:53:58 GMT)

First home owners struggle to get loans
A mortgage broker says a reduction in the first home buyers grant has made it harder to get a first loan. (Sat, 14 Nov 2009 00:07:25 GMT)

First home owners struggle to get loans
A mortgage broker says a reduction in the federal government's first home buyers grant and tighter lending conditions have made it harder for first-time home buyers to get a home loan. (Sat, 14 Nov 2009 00:11:01 GMT)

Seven indicted in massive mortgage-fraud scheme
Seven people face 53 counts of conspiracy, wire fraud and money laundering in a mortgage-fraud scheme involving more than 100 Northern California properties, federal prosecutors said Friday. (Sat, 14 Nov 2009 00:55:55 GMT)

Watchdog 'treats mortgage lenders like drug dealers'
Matthew Wyles: 'In the UK mortgage market as a whole, default rates and losses have been modest' (Sat, 14 Nov 2009 01:05:31 GMT)

Mexican Mortgage Company Hito Places MXN3 Billion In MBS
MEXICO CITY -(Dow Jones)- Mexican mortgage company Hito said Friday it placed 3 billion pesos ($230 million) in securities backed by mortgages granted by state workers housing fund Fovissste. (Sat, 14 Nov 2009 02:18:32 GMT)

30-year mortgage rates fall to 4.91%
Rates for 30-year home loans stayed below 5 percent for the second week in a row. (Sat, 14 Nov 2009 02:27:29 GMT)

Leawood man pleads guilty in mortgage fraud
A defendant in a $14 million bank fraud indictment has pleaded guilty to mortgage fraud. Wildor Washington Jr., 39, of Leawood pleaded guilty to one count of conspiracy, seven counts of wire fraud and three counts of money laundering. (Sat, 14 Nov 2009 04:39:53 GMT)

Mortgage process: Both borrower and property must be approved
Mortgage process: Both borrower and property must be approved By BOB KIEBER special to the daily If you are considering the purchase of a property, your personal financial information is not the only important part of the mortgage process. The property itself is just as important as you. If either fails to meet the minimum requirements of the mortgage lender the deal is dead. Getting a mortgage ... (Sat, 14 Nov 2009 05:08:42 GMT)

Mortgage firm shutdown draws fire
An investigation is under way into the the closing of Financial Resources Mortgage Inc. in Meredith; Investors in New Hampshire, New York and Florida are worried about losing money. (Sat, 14 Nov 2009 05:10:11 GMT)

Mortgage company closes without notice
A mortgage company in Meredith has shut its doors without notifying its customers. (Sat, 14 Nov 2009 06:38:13 GMT)

N.H. mortgage firms closes, sparking investigation
MEREDITH, N.H. (AP) — New Hampshire officials say they are investigating the closure of a mortgage company in Meredith, N.H., that shut its doors without notifying its customers. (Sat, 14 Nov 2009 07:13:41 GMT)

USDA Rural Development funds 1,000th guaranteed home loan in state
STERLING — “Being able to call some place home is not just for those people who have millions of dollars,” said Katie Barker. (Sat, 14 Nov 2009 08:47:09 GMT)

Mortgage rates near record lows, still difficult to get home loan
Mortgage rates are near historic lows, but lenders continue to make it harder to get a home loan. (Sat, 14 Nov 2009 10:40:44 GMT)

Looking to refinance? Watch your credit score
Thinking again refinancing your mortgage? If your credit score isn’t stellar, think again. Home mortgage lenders use credit scores when determining refinance eligibility. (Sat, 14 Nov 2009 14:58:31 GMT)

Habitat for Humanity family burns mortgage note
After 13 years, one Danville woman owns her house free and clear. Bertha Glass burned the mortgage note in celebration Friday night. (Sat, 14 Nov 2009 15:06:39 GMT)

Refinancing Rates Near All-time Low
Refinance home loan rates are near all-time lows. The 30 year fixed-rate mortgage has been below 5-percent for five of the last seven weeks. Right now, it's averaging 4.91 percent. A year ago it was over 6-percent. Despite the low rates, the Mortgage Bankers Association says mortgage applications hit their lowest level in 9 years this week. (Sat, 14 Nov 2009 15:59:38 GMT)

Refinancing Rates Near All-time Low
Refinance home loan rates are near all-time lows. The 30 year fixed-rate mortgage has been below 5-percent for five of the last seven weeks. Right now, it's averaging 4.91 percent. A year ago it was over 6-percent. (Sat, 14 Nov 2009 16:03:57 GMT)

Home Builders (You Heard That Right) Get a Gift
Analysts say home builders will be among the biggest beneficiaries of a new tax break. (Sat, 14 Nov 2009 19:17:49 GMT)

First home buyers finding it tough
A reduction in the federal government's first home buyers grant has made it harder for first time home buyers to get a home loan, a mortgage broker says. (Sun, 15 Nov 2009 00:11:01 GMT)

Competition returns to home loan market
The past few weeks have seen a number of new mortgages and rate cuts, suggesting a loosening in the market and a welcome sign that competition is returning, but what are the real implications for homeowners? (Sun, 15 Nov 2009 00:12:16 GMT)

Is now a good time to consider refinancing my home mortgage?
Interest rates on mortages are at tantalizingly low levels -- around 5 percent for many fixed-rate mortgages and even lower for adjustable rate mortgages. Estimating how long you plan to live in your current home and figuring out how long it will take to break even after the cost of refinancing a mortgage are key considerations. Members of the Financial Planning Association of Greater Indiana ... (Sun, 15 Nov 2009 06:28:52 GMT)

Prepaying mortgage may not make financial sense
You should have, at a minimum, an emergency fund equal to three months' worth of basic expenses before you consider paying off a low-rate, potentially tax-deductible debt. Dear Liz: We refinanced our house in January for a 30-year fixed rate of 4.625%. We are paying about $513 a month extra toward the principal, which will allow us to pay off our mortgage in 16 years. (Sun, 15 Nov 2009 08:04:27 GMT)

Mortgage rates creep closer to low as market heals
Rates last week for 30-year home loans stayed below 5 percent for the second week in a row. The average rate fell to 4.91 percent from 4.98 percent a week earlier, mortgage company Freddie Mac said Thursday. (Sun, 15 Nov 2009 08:08:30 GMT)

30-year mortgage rates stay below 5%
Rates last week for 30-year home loans stayed below 5 percent for the second week in a row. The average rate fell to 4.91 percent from 4.98 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates hit a record low of 4.78 percent in the... (Sun, 15 Nov 2009 08:32:38 GMT)

O'Hara council to refinance fire department mortgage
In a deal similar to one that failed this summer, O'Hara Council has agreed to refinance the $240,000 mortgage held by Guyasuta Volunteer Fire Department. (Sun, 15 Nov 2009 09:52:44 GMT)

Marina Square homebuyers to take advantage of Abu Dhabi Finance's latest mortgage solution
Abu Dhabi Finance, one of the Emirate's fastest growing new home finance providers, is celebrating its first birthday with the launch of a special mortgage solution called 'Advantage'. (Sun, 15 Nov 2009 10:05:48 GMT)

Pace of mortgage help rising but still slow
Mortgage servicing companies have the complex task of figuring out if millions of borrowers qualify for mortgage modifications. And there has been some progress lately getting homeowners sign up. Mortgage - Business - Borrower - Financial Services - United States (Sun, 15 Nov 2009 17:21:25 GMT)

Hoschton man pleads guilty to $20 million mortgage fraud
Edward William Farley, 47, entered his plea on Thursday in a federal district court. (Sun, 15 Nov 2009 22:27:02 GMT)

Australian mortgage arrears in decline
New survey suggests Australian mortgage holders are handling the downturn better than expected. (Sun, 15 Nov 2009 23:06:35 GMT)

U.K. Home Sellers Reduced Asking Prices by 1.6% in November
Nov. 16 (Bloomberg) -- U.K. home sellers reduced asking prices in November for the first time in three months as demand for property dwindled before the year-end Christmas holidays, Rightmove Plc said. (Mon, 16 Nov 2009 02:15:53 GMT)

Sooke potholes mortgage up in smoke
The Land Conservancy of B.C. is hoping heavy rains and wind won’t dampen spirits — literally — at a symbolic “burning of the mortgage” for Sooke potholes. (Mon, 16 Nov 2009 05:32:27 GMT)

Sooke potholes mortgage up in smoke
The Land Conservancy of B.C. is hoping heavy rains and wind won't dampen spirits - literally - at a symbolic "burning of the mortgage" for Sooke potholes Monday. (Mon, 16 Nov 2009 05:38:14 GMT)

Mortgage Deal Pricing 'Unfair', Say 60% of Brits
Both first-time buyers and home owners feel that mortgage deals are not currently being fairly priced, according to results from a new survey. (Mon, 16 Nov 2009 07:01:00 GMT)

Urgent-Don't Refinance or Close a New Mortgage Without Using the Mortgage Inspection Service to Avoid Overcharges
Americas Watchdog created the Mortgage Inspection Service to prevent homeowners from being over charged, when they finance or refinance a home loan. (Mon, 16 Nov 2009 07:01:00 GMT)

Sakan Finance to enter the Mortgage market in Dec. with LE 150 million
15 November 2009 After becoming the first mortgage finance company to obtain a license from the newly formed Egyptian Financial Supervision Authority (EFSA), Sakan Finance is currently preparing to make its services available to the general public before the end of 2009, the company said in a statement. (Mon, 16 Nov 2009 07:05:31 GMT)

30-year mortgage rates remain below 5 percent
WASHINGTON - Rates last week for 30-year home loans in the U.S. stayed below 5 percent for the second week in a row. The average rate fell to 4.91 percent from 4.98 percent a week earlier, mortgage company Freddie Mac said Thursday. (Mon, 16 Nov 2009 07:22:50 GMT)

Mortgage crisis is a mounting problem
Frustration is mounting in the Lower Hudson Valley as more homeowners face foreclosure and yet report feeling as though they are running in circles when it comes to negotiating more affordable mortgage payments. (Mon, 16 Nov 2009 07:49:49 GMT)

Urgent-Don't Refinance or Close a New Mortgage Without Using the Mortgage Inspection Service to Avoid Overcharges
Americas Watchdog created the Mortgage Inspection Service to prevent homeowners from being over charged, when they finance or refinance a home loan. Think the mortgage industry has cleaned up its act? Think again. According to the group,"our Mortgage Inspection Service is the oldest, most quoted, and reputable mortgage document inspection service, or mortgage review service in the United States ... (Mon, 16 Nov 2009 08:15:19 GMT)

U.K. Home Sellers Reduced Asking Prices by 1.6% in November
Nov. 16 (Bloomberg) -- U.K. home sellers reduced asking prices in November for the first time in three months as demand for property dwindled before the year-end Christmas holidays, Rightmove Plc said. (Mon, 16 Nov 2009 08:40:12 GMT)

Loan program targets Ike's impact on businesses
A Hurricane Ike loan program could help make a difference in whether a small business survives and can keep people employed, its supporters hope. (Mon, 16 Nov 2009 10:01:24 GMT)

Legal aid rarely used in foreclosure cases
Few homeowners facing foreclosure are availing themselves of the help available at Queens Legal Services. PHOTO BY EVAN WEXLER Pierre Morel, a Queens homeowner with $245,000 in mortgage debt, keeps his stretch-marked leather briefcase close at hand. (Mon, 16 Nov 2009 10:25:48 GMT)

Do you qualify for a jumbo mortgage?
Many lenders are offering jumbo mortgages now, but requirements are stricter. (Mon, 16 Nov 2009 11:00:00 GMT)

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