Mortgage News Jan 2010

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Pace of mortgage filings slows over the holidays
The pace of application activity for mortgages and to refinance existing home loans slows during the weeks before Christmas and New Year's Day, the latest data compiled by the Mortgage Bankers Association show. (Wed, 06 Jan 2010 12:15:40 GMT)

Firm tops mortgage best buy table
Alliance & Leicester was the most consistently competitive mortgage lender during the final quarter of 2009, research has shown. (Wed, 06 Jan 2010 12:42:05 GMT)

U.S. MBA Mortgage Applications Index Increased 0.5% Last Week
Jan. 6 (Bloomberg) -- Mortgage applications in the U.S. last week held near a six-month low as rising interest rates discouraged homeowners from refinancing. (Wed, 06 Jan 2010 12:46:10 GMT)

Mortgage demand near six-month low as rates jump
NEW YORK (Reuters) - Demand for U.S. mortgages held last week near six-month lows as the highest long-term borrowing costs since August stifled refinancing, a Mortgage Bankers Association survey showe... (Wed, 06 Jan 2010 13:36:23 GMT)

Community Preservation Corp. lends developers $989,000 to refinance rental properties
Syracuse, NY—The Community Preservation Corp. has loaned $989,000 to two developers to refinance 17 multi-family rental properties in Auburn, Geddes and Syracuse. (Wed, 06 Jan 2010 13:51:57 GMT)

Mortgage Applications Drop As Interest Rates Rise
(RTTNews) - Demand for mortgage applications sank to near six-month lows in the weeks ending December 25 and January 1, as interest rates climbed above five percent for the first time in eight weeks. (Wed, 06 Jan 2010 14:39:27 GMT)

Mortgage activity fell in week
WASHINGTON, Jan. 6 (UPI) -- The volume of applications for U.S. mortgages fell 22.8 percent in a week on a seasonally adjusted basis, an industry group said Wednesday. (Wed, 06 Jan 2010 15:44:05 GMT)

Mortgage-Bond Spreads Narrow to Lowest in More Than 17 Years
Jan. 6 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell to the lowest relative to benchmark rates in more than 17 years, as the Federal Reserve’s program to purchase $1.25 trillion of home-loan bonds bolsters the market. (Wed, 06 Jan 2010 16:02:40 GMT)

KHC Offers Lowest Home Loan Interest Rates In History
Gov. Steve Beshear Wednesday announced that the Kentucky Housing Corporation (KHC) will begin offering the lowest interest rates in its history thanks to President Obama’s Homeowner Affordability and Stability Plan. “With housing industry troubles leading nearly every newscast and topping nearly every paper for the last year, it’s rare to find a positive point to focus on,” said Beshear ... (Wed, 06 Jan 2010 16:21:04 GMT)

Mortgage Demand Near Six-Month Low as Rates Jump
Demand for mortgages held last week near six-month lows as the highest long-term borrowing costs since August stifled refinancing, a Mortgage Bankers Association survey showed on Wednesday. (Wed, 06 Jan 2010 17:39:34 GMT)

CWCapital Provides $17.8 Million Refinance Loan on Paradise Gardens
BOSTON----CWCapital, a subsidiary of CW Financial Services and a full-service, national lender to the multifamily and healthcare real estate industries, today announced that it has provided $17.8 million for the refinance of Paradise Gardens, a 200-unit multifamily property located in Kihei, Maui, Hawaii. (Wed, 06 Jan 2010 17:41:00 GMT)

Mortgage Activity Fell In Week
The volume of applications for U.S. mortgages fell 22.8 percent in a week on a seasonally adjusted basis, an industry group said Wednesday. Both the Market Composite Index and the Refinancing Index decreased in the week ending Dec. 25, the Mortgage Bankers Association said. (Wed, 06 Jan 2010 18:50:29 GMT)

Some Fed officials conflicted on mortgage program
Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates, bolster the housing market and keep the recovery going, according to a document released Wednesday. Minutes of the... Mortgage - Federal Reserve System - U.S. Housing Market - Business - United States (Wed, 06 Jan 2010 19:30:19 GMT)

Mortgage-Bond Spreads Narrow to Lowest in More Than 17 Years
Jan. 6 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell to the lowest relative to government notes in more than 17 years, as the Federal Reserve’s program to purchase $1.25 trillion of home-loan bonds bolsters the market. (Wed, 06 Jan 2010 19:33:02 GMT)

Some Fed officials conflicted on mortgage program
Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates, bolster the housing market and keep the recovery going, according to a document released Wednesday. (Wed, 06 Jan 2010 19:48:15 GMT)

Some Fed officials conflicted on mortgage-buying program
Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates, bolster the housing market and keep the recovery going. (Wed, 06 Jan 2010 19:49:35 GMT)

Some Fed officials conflicted on mortgage program
Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates and bolster the housing market, according to a document released Wednesday. (Wed, 06 Jan 2010 20:49:38 GMT)

Some Fed officials conflicted on mortgage program
Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates and bolster the housing market, according to a document released Wednesday. (Wed, 06 Jan 2010 21:12:16 GMT)

Mortgage-Bond Spreads Narrow to Lowest in More Than 17 Years
Jan. 6 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell to the lowest relative to government notes in more than 17 years, as the Federal Reserve’s program to purchase $1.25 trillion of home-loan bonds bolsters the market. (Wed, 06 Jan 2010 22:22:47 GMT)

Mortgage-Bond Spreads Narrow to Lowest in More Than 17 Years
Jan. 6 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell to the lowest relative to Treasuries in more than 17 years, narrowing further on news Federal Reserve officials last month reiterated they may favor expanding their program to purchase $1.25 trillion of home-loan debt. (Wed, 06 Jan 2010 22:31:02 GMT)

Invesco Mortgage plans public offer of 7M shares
Real estate investment trust Invesco Mortgage Capital Inc. said Wednesday it plans to offer 7 million shares of common stock for sale to the public. (Wed, 06 Jan 2010 22:54:10 GMT)

China Targets ‘Moderate’ Loan Growth After 2009 Credit Boom
Jan. 7 (Bloomberg) -- China’s central bank said it will target “moderate” loan growth in 2010, adding to signs that policy makers won’t allow a repeat of last year’s record expansion in credit. (Thu, 07 Jan 2010 01:31:06 GMT)

Rabbi Shmuley Boteach: Mortgage Ignominy at JP Morgan Chase
When it comes to screwing the American tax payer into foreclosure and out of funds designed to alleviate his mortgage burden, JP Morgan Chase emerges as the great celestial black hole. (Thu, 07 Jan 2010 06:02:23 GMT)

Sun Hung Kai Said to Seek HK$5 Billion, Five-Year Club Loan
Sun Hung Kai Properties Ltd., the world’s biggest developer by market value, is seeking a five- year loan of up to HK$5 billion ($645 million) to refinance debt, according to three people familiar with the matter. (Thu, 07 Jan 2010 10:04:38 GMT)

Last chance to refinance below 5%
If you want to refinance your mortgage into a loan with a sub-5% interest rate, better hurry. Your window of opportunity is closing fast. (Thu, 07 Jan 2010 10:08:11 GMT)

Mortgage refinance is personal choice
A mortgage refinance requires the borrower to crunch numbers and make personal choices. (Thu, 07 Jan 2010 11:00:00 GMT)

Free job-loss mortgage insurance?
Insurance -- often for free -- can pay your mortgage in the event you lose your job. (Thu, 07 Jan 2010 11:00:00 GMT)

PC distributes loan cheques to Delhi slum dwellers
New Delhi, Jan 7 (PTI) To help slum dwellers start their business and gain educational benefits, Home Minister P Chidambaram distributed loan cheques to the needy in the national capital. (Thu, 07 Jan 2010 11:53:22 GMT)

UK's biggest mortgage lender says house prices rose 1 percent in December
LONDON - U.K. house prices rose 1 percent in December, ending the year 1.1 percent higher than at the end of 2008, the country's biggest mortgage lender said Thursday. (Thu, 07 Jan 2010 11:57:07 GMT)

Bankrate: Mortgage Rates Move Lower
The average conforming 30-year fixed mortgage decreased this week to 5.26 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.43 discount and origination points. (Thu, 07 Jan 2010 12:30:00 GMT)

Mortgage firm fined by watchdog
A County Down mortgage broker is fined for failures which led to fraudulent mortgage applications being submitted to lenders. (Thu, 07 Jan 2010 12:38:14 GMT)

Bankrate: Fixed Mortgage Rates Slip In Latest Week
Bankrate: Fixed Mortgage Rates Slip In Latest Week (Thu, 07 Jan 2010 13:05:45 GMT)

Invesco Mortgage to Offer 7M Shares
Invesco Mortgage Capital Inc. will commence a public offering of 7 million shares of its common stock. It will grant the underwriters a 30-day option to purchase up to 1.05 million additional shares to cover over-allotments. (Thu, 07 Jan 2010 14:59:06 GMT)

BRIEF-Soccer-Sporting keeper Stojkovic joins Wigan on loan
Wigan Athletic have completed the loan signing of Sporting Lisbon's Serbia goalkeeper Vladimir Stojkovic to the end of the Premier League season. (Thu, 07 Jan 2010 15:01:15 GMT)

Delinquencies improve; home equity an exception
While overall consumer-loan delinquencies fall, home-equity loans remain an area of concern, latest data compiled by the American Bankers Association show. (Thu, 07 Jan 2010 15:16:00 GMT)

Freddie Mac: Benchmark Mortgage Rates Decline
Freddie Mac: Benchmark Mortgage Rates Decline (Thu, 07 Jan 2010 15:35:15 GMT)

Mortgage Rates on 30-Year U.S. Loans Fall to 5.09% (Update2)
Jan. 7 (Bloomberg) -- Mortgage rates in the U.S. fell for the first time in five weeks, lowering borrowing costs and offering a boost to potential buyers. (Thu, 07 Jan 2010 16:00:53 GMT)

Mortgages: After late-year rise, mortgage rates ease
Mortgage rates drop this week, an about face after weeks of creeping up. (Thu, 07 Jan 2010 16:01:00 GMT)

Rates on 30-year home loans fall to 5.09 percent
Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month's record lows. (Thu, 07 Jan 2010 16:26:20 GMT)

30-year fixed mortgage rate inches downward, first decline in a month
Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month's record lows. The average rate on a 30-year fixed mortgage was 5.09 percent this week, down from 5.14 percent a... (Thu, 07 Jan 2010 17:28:08 GMT)

HOME PAGE
Teaser rate home loans may spell trouble Fixed for now, the floating rate segment could upset your calculations. There is a possibility that the recent home loan schemes offering fixed-cum-floating rates could lead to a ‘payment shock' ... (Thu, 07 Jan 2010 18:34:41 GMT)

The Hindu Business Line : Teaser rate home loans may spell trouble
Boon or bane? There is a possibility that the recent home loan schemes offering fixed-cum-floating rates could lead to a ‘payment shock' for borrowers. (Thu, 07 Jan 2010 18:39:04 GMT)

‘Raise tax sop on home loan interest payment’
The Budget 2010-11 should increase the tax exemption limit against the interest payment on home loan and rental income, said real estate compamies on Thursday. (Thu, 07 Jan 2010 20:38:12 GMT)

$156 Million Refinancing Arranged by HFF for Eight-Property, Four-State Multi-Housing Portfolio
CHICAGO----The Chicago office of HFF announced today it has arranged a $156 million refinancing for an eight-property, 2,306-unit multi-housing portfolio in Indiana, Kentucky, Tennessee and Virginia. (Thu, 07 Jan 2010 23:13:00 GMT)

‘Raise tax sop on home loan interest payment’
The Budget 2010-11 should increase the tax exemption limit against the interest payment on home loan and rental income, said real estate compamies on Thursday. (Fri, 08 Jan 2010 01:38:12 GMT)

Owner of 2 Rochester hotels walks away from mortgage
Sunstone Hotel Investors Inc. is forfeiting two Rochester hotels, and nine others across the United States, to Massachusetts Mutual Life Insurance Co. after stopping payments on a $246 million mortgage, the latest example of a commercial real estate owner giving up a money-losing asset to a lender. (Fri, 08 Jan 2010 01:42:13 GMT)

Family Criticizes Mortgage Relief Company
A metro Atlanta family says they are deeper in debt after paying a mortgage relief company hundreds of dollars to avoid foreclosure. (Fri, 08 Jan 2010 04:09:12 GMT)

Mortgage holders urged to switch lenders
Home buyers and mortgage holders can save hundreds of dollars per month by abandoning the big four banks and using smaller lenders, a mortgage broker says. (Fri, 08 Jan 2010 04:24:00 GMT)

Teachers buys AIG's Canada mortgage insurance unit
Ontario Teacher's Pension Plan has started the new year with a new acquisition. The pension plan announced that it's the lead sponsor to buy American International Group Inc's (AIG) Canadian mortgage ... (Fri, 08 Jan 2010 05:57:29 GMT)

Refinancing drives mortgage activity
Mortgage activity rose last week to the highest level in about two months, mainly from borrowers locking in low mortgage rates by refinancing, the Mortgage Bankers Association said recently. (Fri, 08 Jan 2010 06:14:04 GMT)

'Teaser home loan rates pose payment shocks'
The teaser home loan rate, the interest rate which is set artificially low for the initial period, could give a 'payment shock' to borrowers as the equated monthly installment (EMI) shot up on lenders charging regular interest rates, according to Fitch officials. (Fri, 08 Jan 2010 08:08:09 GMT)

Credit do's & don'ts before a refinance
Before you refinance, take certain actions -- and avoid others -- to boost your credit score. (Fri, 08 Jan 2010 11:00:00 GMT)

CashCall Mortgage and Its 'Free Closer' Beat the Big Banks... Again: Company Offers 30-Year, 4.875% Fixed-Rate ...
ANAHEIM, Calif.----Just when America’s largest banks thought they had cornered the market, CashCall Mortgage beats their supposedly low rates yet again. This time, CashCall gives consumers a low fixed-rate of just 4.875% with zero points and zero closing costs. (Fri, 08 Jan 2010 11:15:00 GMT)

Mortgage rate ends monthlong upward trend
The nation's benchmark mortgage rate has fallen for the first time in a month. (Fri, 08 Jan 2010 11:30:00 GMT)

Homerica Mortgage collects gifts for Blythedale
Homerica Mortgage Corp. raised more than $1,000 and collected hundreds of toys for the Blythedale Children's Hospital in Valhalla. (Fri, 08 Jan 2010 11:42:02 GMT)

Credit do's & don'ts before a refinance
Your decisions in the weeks before refinancing can have a crucial effect on your credit score, according to Carolyn Warren, a mortgage industry professional and the author of "Homebuyers Beware," which examines mortgage and credit insider secrets. (Fri, 08 Jan 2010 11:42:10 GMT)

Home equity loan or line of credit?
Home equity loan or line of credit? �� ( 01:58 ) Knowing how you'll be using the money will help you decide which type of home equity debt is best. (Fri, 08 Jan 2010 11:43:00 GMT)

Mortgage lenders launch new tracker and fixed-rate deals
interest rates might be heading in 2010 and whether it would be better to take out a fixed-rate mortgage or a tracker/discounted deal.A lot hinges on what happens to the Bank of England base rate, and... (Fri, 08 Jan 2010 11:52:31 GMT)

Roger Lowenstein: The Case For Walking Away From Your Mortgage
What's Your Reaction? John Courson, president and C.E.O. of the Mortgage Bankers Association, recently told The Wall Street Journal that homeowners who default on their mortgages should think about the "message" they will send to "their family and their kids and their friends." (Fri, 08 Jan 2010 12:17:22 GMT)

Mortgage rates dip
Following four straight weeks of increases, 30-year fixed-mortgage rates fell to an average 5.09 percent this week, mortgage giant Freddie Mac said Thursday, reducing costs for home buyers. Last week the rate averaged 5.14 percent; a year ago the rate was 5.01 percent. The average 15-year fixed mortgage rate dipped 0.4 percent to 4.5 percent, while the average five-year adjustable-rate mortgage ... (Fri, 08 Jan 2010 13:20:50 GMT)

Gloria L. Kotschevar Joins HomeBanc as Mortgage Loan Officer
TAMPA, FL--(Marketwire - January 8, 2010) - Tampa-based HomeBancorp, Inc. has named Gloria L. Kotschevar as Mortgage Loan Officer for HomeBanc. She is based in HomeBanc's Bonita Springs office, located at 24830 South Tamiami Trail, Suite 3500. Ms. Kotschevar brings to HomeBanc more than 30 years of mortgage lending experience. She can be reached at (239) 444-6603 or gloria ... (Fri, 08 Jan 2010 15:14:44 GMT)

Firm Capital Mortgage Investment Trust: Confirmation of Special Year-End Distribution Amount and Reminder to ...
TORONTO, ONTARIO--(Marketwire - Jan. 8, 2010) - Firm Capital Mortgage Investment Trust (the "Trust") (TSX:FC.UN) confirmed its previously announced special year-end distribution of $0.105 per unit. The December and special year-end distribution which total $0.183 per unit, will be payable on January 15, 2010 to Unitholders of record on December 31, 2009. The special year-end distribution ... (Fri, 08 Jan 2010 16:15:37 GMT)

UPDATE: Crown Castle Offers $1.9 Billion Refinancing Of Notes
NEW YORK -(Dow Jones)- Crown Castle International Corp. (CCI) is in the market with a refinancing of $1.9 billion in senior secured notes, according to term sheet. (Fri, 08 Jan 2010 17:18:34 GMT)

UPDATE: Crown Castle Offers $1.9 Billion Refinancing Of Notes
UPDATE: Crown Castle Offers $1.9 Billion Refinancing Of Notes (Fri, 08 Jan 2010 18:05:45 GMT)

Stuy town to miss multi-million dollar loan payment
A politician says a real estate partnership that paid a record price for two of New York City’s biggest apartment complexes has indicated it will miss a multimillion dollar loan payment. New York City Councilman Dan Garodnick lives in one of the massive Manhattan mini-cities, called Stuyvesant Town and... (Fri, 08 Jan 2010 18:56:03 GMT)

Mortgage Rates Remain Steady This Week, Says Informa Research Services
CALABASAS, CA--(Marketwire - January 8, 2010) - After months of remaining low, mortgage rates began to rise slowly during the closing weeks of 2009. However, according to the Informa Research Services, a subsidiary of Informa plc ( LSE : INF ), this week, rates held steady for the second week in a row with the national average rate on a 30-year fixed mortgage at 5.33% ( http://www ... (Fri, 08 Jan 2010 18:59:02 GMT)

Teachers buys AIG's Canada mortgage insurance unit
Ontario Teacher's Pension Plan has started the new year with a new acquisition. The pension plan announced that it's the lead sponsor to buy American International Group Inc's (AIG) Canadian mortgage ... (Fri, 08 Jan 2010 20:37:45 GMT)

Local News>Mortgage bank going after Scott family assets - KES appoints new liquidator
Jamaica Mortgage Bank (JMB), one of the several big creditors owed money by KES Development Limited, is going after personal holdings of Hugh Scott and his wife Elesa, the directors of the failed real estate firm. (Fri, 08 Jan 2010 20:52:31 GMT)

30-year rates slip to 5.09 percent
The average rate on a 30-year, fixed-rate mortgage was 5.09 percent this week, down from 5.14 percent a week earlier, the mortgage company Freddie Mac said Thursday. (Fri, 08 Jan 2010 21:12:52 GMT)

6 Years For Mortgage Broker In SF Elderly Fraud
A former Southern California mortgage broker was sentenced to six years in prison Friday for defrauding an 86-year-old San Francisco woman out of $140,000. (Fri, 08 Jan 2010 21:22:28 GMT)

Mortgage fraud ringleader gets prison, forfeits cars, yachts
The ringleader of a $47 million mortgage fraud scheme was sentenced Friday to five years in prison, and he and his co-defendants were ordered to forfeit luxury cars, a yacht and bank accounts worth millions. (Fri, 08 Jan 2010 22:18:31 GMT)

Deduct reverse mortgage interest when house is sold
Q: I have a reverse mortgage. Each month interest is computed and added to the unpaid balance. While this interest is not "paid" by virtue of a monthly payment as in a regular mortgage, I wonder if the addition of it to the outstanding balance constitutes "payment" by the Internal Revenue Service? In other words, can I use the accrued interest each year as a deduction? And, if not, when can that ... (Fri, 08 Jan 2010 22:29:47 GMT)

Owners of Stuyvesant Town to Default on Mortgage
The owners of Stuyvesant Town and Peter Cooper Village have announced that they'll default on their mortgage. The sprawling Manhattan property was purchased by Tishman Speyer and Black Rock Realty f.... (Sat, 09 Jan 2010 00:04:34 GMT)

Mentally ill inmates fall through cracks: Van Loan
The tragic case of Ashley Smith is a "perfect example" of policy failure across different levels of government and various ministries, says Public Safety Minister Peter Van Loan. (Sat, 09 Jan 2010 00:58:34 GMT)

Auto loan market thawing
NEW YORK — For car buyers, four words mean the difference between going home in a new sedan or their old clunker: Your loan is approved. (Sat, 09 Jan 2010 03:10:31 GMT)

NMLS Consumer Access website may help protect mortgage shoppers from unscrupulous loan originators
The database of companies and individuals will tell consumers whether the person they're working with has had his or her license suspended or revoked in another state, for example. Mortgage shoppers will have a new tool that will go a long way toward protecting them from being ripped off by unscrupulous loan originators when they gain admission this month to a growing nationwide database of ... (Sat, 09 Jan 2010 03:18:28 GMT)

Risk-based pricing notices could cut mortgage fees and interest rates
Rules finalized by the Federal Trade Commission and the Federal Reserve will require lenders to alert loan applicants when a problem with their credit files might trigger excessive costs. For mortgage applicants and home buyers, it's been a six-year wait, but the Federal Trade Commission and the Federal Reserve finally have come out with consumer credit protection rules first required by ... (Sat, 09 Jan 2010 03:18:38 GMT)

Boston Fed Chief Expects Mortgage Rates To Rise This Spring
The chief of the Federal Reserve Bank of Boston said Friday he expects mortgage rates to rise by as much as three-quarters of a percentage point in the coming months as a result of the Fed's ending a program that supports the housing market. (Sat, 09 Jan 2010 04:44:12 GMT)

Stuy Town Fears Lowered Quality Of Life As Landlords Miss Mortgage Payment
Tenants at Stuyvesant town and Peter Cooper Village, the largest middle class housing complexes in Manhattan, were concerned Friday about their area's upkeep, now that their landlords cannot make mortgage payments. (Sat, 09 Jan 2010 04:53:11 GMT)

Business Digest: Mortgage delinquencies up at Fannie Mae and Freddie Mac
MORTGAGE FINANCING Delinquent home loans at government-controlled mortgage finance giants Fannie Mae and Freddie Mac surged 20 percent from July through September, according to a new report by the companies' regulator, the Federal Housing Finance Agency. (Sat, 09 Jan 2010 05:00:00 GMT)

Auto loan market thawing
NEW YORK — For car buyers, four words mean the difference between going home in a new sedan or their old clunker: Your loan is approved. (Sat, 09 Jan 2010 08:25:31 GMT)

AIG sells Canadian mortgage insurer to pension group
American International Group Inc., the insurer rescued by the U.S., agreed to sell its Canadian mortgage guarantor to a group led by the Ontario Teachers' Pension Plan as the firm scales back bets tied to home loans. (Sat, 09 Jan 2010 09:27:50 GMT)

Some Fed officials conflicted on mortgage program
WASHINGTON — Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates and bolster the housing market, according to a document released Wednesday. (Sat, 09 Jan 2010 09:35:14 GMT)

Peter Boutell, Lending a Hand: Cash: the key ingredient for a mortgage
Mortgage approvals are based on a borrower's income, credit and cash available. The income must not only be adequate but stable, which basically means that the borrower has a steady two-year history of work in the same field. (Sat, 09 Jan 2010 09:46:00 GMT)

Malaga to take Caicedo on loan
Malaga have reached an agreement with Manchester City to take Ecuador striker Felipe Caicedo on loan for the remainder of the season, the Primera Division club have announced. (Sat, 09 Jan 2010 12:04:38 GMT)

MALAGA TO TAKE CAICEDO ON LOAN
Caicedo - heading to Malaga. Malaga have reached an agreement with Manchester City to take Ecuador striker Felipe Caicedo on loan for the remainder of the season, the Primera Division club announced today. (Sat, 09 Jan 2010 12:33:47 GMT)

Free mortgage counseling Monday at Senior Center
Housing counselors from the Washoe County Senior Law Project will be at the Carson City Senior Center starting at 1 p.m. Monday to provide free assistance to those who are experiencing difficulty paying their mortgage. The counselors will help homeowners determine if they are eligible for a modification from the Obama administration's mortgage modification program. For those who have already ... (Sat, 09 Jan 2010 12:36:50 GMT)

Malaga to take Caicedo on loan
Malaga have reached an agreement with Manchester City to take Ecuador striker Felipe Caicedo on loan for the remainder of the season, the Primera Division club have announced. Related Stories Wigan match called off Wenger warns off Spanish giants Fergie: My choice not to splash cash Pearson calls for salary cap West Ham match postponed (Sat, 09 Jan 2010 13:05:17 GMT)

Malaga seal Caicedo loan capture
Malaga have reached an agreement with Manchester City to take Felipe Caicedo on loan until the summer, the La Liga club announced on Saturday. (Sat, 09 Jan 2010 13:10:26 GMT)

Dave Ramsey: No credit score, no mortgage?
Dear Dave, I’ve never had a credit card or a bank loan, so I really don’t have any established credit. What should I do when it comes to a cell phone contract or establishing utility service? Also, what will happen if I try to get a mortgage loan at some point? (Sat, 09 Jan 2010 15:56:56 GMT)

Malaga to take Caicedo on loan
Malaga have reached an agreement with Manchester City to take 21-year-old Ecuador striker Felipe Caicedo on loan for the remainder of the season. (Sat, 09 Jan 2010 16:11:02 GMT)

Stuy Town Owners Seek to Reneogtiate Mortgage
The owners of Stuyvesant Town and Peter Cooper Village say they're working to re-negotiate the terms of their loan, after announcing that they'll default on their mortgage. REPORTER: The property w.... (Sat, 09 Jan 2010 16:19:46 GMT)

Felipe Caicedo joins struggling Malaga on loan
Malaga have agreed a deal to take Manchester City striker Felipe Caicedo on loan until the end of the season. (Sat, 09 Jan 2010 16:24:58 GMT)

Last-gasp Arsenal grab home draw with Everton
A stoppage-time equaliser by Tomas Rosicky secured a 2-2 draw for Arsenal at home to Everton on Saturday as the Londoners missed the chance to move within a point of Premier League leaders Chelsea. (Sat, 09 Jan 2010 17:35:00 GMT)

2 convicted in large NJ mortgage fraud scheme
NEWARK — A federal jury in New Jersey has convicted two men in a multimillion-dollar mortgage fraud and property flipping scheme involving homes in Paterson. (Sat, 09 Jan 2010 19:41:15 GMT)

Couple ‘fortifies’ home against loan sharks
SINGAPORE, Jan 10 — Step out of the lift on the 10th floor and you see a dozen notices in English and Chinese. They are plastered on the walls and ceiling of a corridor leading to a four-room flat in Sengkang. One notice reads: “Ex-owner... has moved out... for a year plus. Please stop disturbing us, thanks!” (Sat, 09 Jan 2010 23:45:25 GMT)

Early payment mortgage schemes dissected
Mortgage broker answers question on paying off a loan early. (Sun, 10 Jan 2010 00:12:12 GMT)

Fed's Rosengren sees mortgage rate rise in spring
U.S. home loan rates could rise by as much as three-quarters of a percentage point in the spring as the Federal Reserve ends its mortgage bonds purchase program, a top Fed policymaker said in an interview published on Saturday. (Sun, 10 Jan 2010 00:30:40 GMT)

Former mortgage broker sentenced in elder abuse scam
Staff report | Former Southern California mortgage broker John McTaggart was sentenced Friday to six years in prison for defrauding an 86-year-old San Francisco woman out of $140,000. The woman signed up for a reverse mortgage from an Orange County company; McTaggart, an employee, persuaded the... (Sun, 10 Jan 2010 00:33:57 GMT)

DAVE RAMSEY: You can get home loan with no credit
SAN ANGELO, Texas —Dear Dave: I’ve never had a credit card or a bank loan, so I really don’t have any established credit. What should I do when it comes to a cell phone contract or establishing utility service? Also, what will happen if I try to get a mortgage loan at some point?— MatthewDear Matthew: There’s usually no exception on cell phone contracts or utility service. Chances are you’ll ... (Sun, 10 Jan 2010 02:16:00 GMT)

Fed's Rosengren sees mortgage rate rise in spring
NEW YORK (Reuters) - U.S. home loan rates could rise by as much as three-quarters of a percentage point in the spring as the Federal Reserve ends its mortgage bonds purchase program, a top Fed policym... (Sun, 10 Jan 2010 03:05:31 GMT)

Home loan rates tipped for upward move
US home loan rates could rise by as much as three-quarters of a percentage point as soon as April. (Sun, 10 Jan 2010 04:57:26 GMT)

Home sales' uphill climb
Aaron Jacobs' home search spanned a year and involved exhaustive research, dozens of tours and a lot of second-guessing. (Sun, 10 Jan 2010 05:00:00 GMT)

Ellen James Martin: Making that refinance happen in 2010
Smart Moves: Practical real estate advice (Sun, 10 Jan 2010 08:12:25 GMT)

NMLS Consumer Access website may help protect mortgage shoppers from unscrupulous loan originators
The database of companies and individuals will tell consumers whether the person they're working with has had his or her license suspended or revoked in another state, for example. Mortgage shoppers will have a new tool that will go a long way toward protecting them from being ripped off by unscrupulous loan originators when they gain admission this month to a growing nationwide database of ... (Sun, 10 Jan 2010 08:14:27 GMT)

Risk-based pricing notices could cut mortgage fees and interest rates
Rules finalized by the Federal Trade Commission and the Federal Reserve will require lenders to alert loan applicants when a problem with their credit files might trigger excessive costs. For mortgage applicants and home buyers, it's been a six-year wait, but the Federal Trade Commission and the Federal Reserve finally have come out with consumer credit protection rules first required by ... (Sun, 10 Jan 2010 08:14:57 GMT)

Mortgage rate falls to 5.09%
WASHINGTON — Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month’s record lows. The average rate on a 30-year fixed mortgage was 5.09 percent this week, down from 5.14 percent a week earlier, mortgage company Freddie Mac said Thursday. (Sun, 10 Jan 2010 08:18:42 GMT)

SUSAN TOMPOR: Forecast calls for higher mortgage rates
Most economists expect the Federal Reserve to keep short-term rates low through much of the year. But mortgage rates, which began an uptick late in 2009, are likely to be a different matter. "The risks are clearly tilted toward an environment of higher rates," said Greg McBride, senior financial analyst for Bankrate.com. (Sun, 10 Jan 2010 08:28:59 GMT)

30-year home loan rates drop to 5.09 percent
Rates for 30-year home loans inched downward last week, the first decline in a month, but remained above last month's record lows. The average rate on a 30-year fixed mortgage was 5.09 percent last week, down from 5.14 percent a week earlier, mortgage company... (Sun, 10 Jan 2010 08:32:26 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, 10 Jan 2010 09:07:45 GMT)

Teachers buys AIG's Canada mortgage insurance unit
Ontario Teacher's Pension Plan has started the new year with a new acquisition. The pension plan announced that it's the lead sponsor to buy American International Group Inc's (AIG) Canadian mortgage ... (Sun, 10 Jan 2010 10:20:32 GMT)

China Tightens Home-Loan Guidance, Reaffirms Downpayment Ratio
Jan. 10 (Bloomberg) -- China said it will step up guidance on property lending and seek to counter speculative capital arriving from abroad amid mounting risks of asset-price bubbles in the world’s third-largest economy. (Sun, 10 Jan 2010 11:44:53 GMT)

Mortgage rates on 30-year loans fall to 5.09 percent
Mortgage rates in the U.S. fell for the first time in five weeks, lowering borrowing costs and offering a boost to potential buyers. (Sun, 10 Jan 2010 13:49:29 GMT)

Auto loan market thawing
NEW YORK — For car buyers, four words mean the difference between going home in a new sedan or their old clunker: Your loan is approved. (Sun, 10 Jan 2010 13:51:40 GMT)

China Tightens Home-Loan Guidance, Reaffirms Downpayment Ratio
Jan. 10 (Bloomberg) -- China said it will step up guidance on property lending and seek to counter speculative capital arriving from abroad amid mounting risks of asset-price bubbles in the world’s third-largest economy. (Sun, 10 Jan 2010 16:10:11 GMT)

Minnesota mortgage bill resurfaces
ST. PAUL – Gene Sparrow couldn’t find anyone at his lender to discuss problems he had with monthly mortgage payments. (Sun, 10 Jan 2010 16:55:19 GMT)

Judith Haney Certified Real Estate Appraiser Teaches Alabama Homeowners About Mortgage Foreclosure Rescue Scams and ...
Mortgage foreclosure rescue fraud is on the rise, says Judith Haney, a 26-year veteran real estate appraiser. (Sun, 10 Jan 2010 16:59:00 GMT)

Teachers buys AIG's Canada mortgage insurance unit
Ontario Teacher's Pension Plan has started the new year with a new acquisition. The pension plan announced that it's the lead sponsor to buy American International Group Inc's (AIG) Canadian mortgage ... (Sun, 10 Jan 2010 18:52:52 GMT)

Carousel mortgage deadline tomorrow
The fight over $410 million in mortgages on the Carousel Center could come to a head Monday. (Sun, 10 Jan 2010 23:36:30 GMT)

China Tightens Mortgage Rules For Second Homes
China Tightens Mortgage Rules For Second Homes (Mon, 11 Jan 2010 01:20:05 GMT)

A million use credit card to pay mortgage
An estimated one million families have resorted to using credit cards to pay their mortgage or rent during the past year, research showed today. (Mon, 11 Jan 2010 04:06:52 GMT)

Dave Ramsey: Ways to get a home loan: Have great credit or no credit
Q: I've never had a credit card or a bank loan, so I really don't have any established credit. What should I do when it comes to a cell phone contract or establishing utility service? Also, what will happen if I try to get a mortgage loan at some point?A: There's usually no exception on cell phone contracts or utility service. Chances are you'll have to put up the deposit, and you'll probably ... (Mon, 11 Jan 2010 05:00:04 GMT)

Teachers buys AIG's Canada mortgage insurance unit
Ontario Teacher's Pension Plan has started the new year with a new acquisition. The pension plan announced that it's the lead sponsor to buy American International Group Inc's (AIG) Canadian mortgage ... (Mon, 11 Jan 2010 06:08:11 GMT)

Home-loan arrears rise with rates
AUSTRALIAN home-loan arrears nudged higher in October, the first increase in eight months, as rising interest rates and dwindling fiscal stimulus begin to hit borrowers, according to a survey by Stand... (Mon, 11 Jan 2010 06:25:41 GMT)

Poly Real Estate, Chinese Developers Fall on Home-Loan Guidance
Jan. 11 (Bloomberg) -- Poly Real Estate Group Co. declined among developers after the government said it will step up guidance on property lending and seek to counter overseas speculative capital. (Mon, 11 Jan 2010 07:00:59 GMT)

Is this the right time to prepay your home loan?
A common question that is asked these days by home loan borrowers is: Should I prepay my home loan? Here's how to make your decision. (Mon, 11 Jan 2010 07:02:27 GMT)

Nigeria : PMIs Move to Standardise Mortgage Documentation
The bid to boost the mortgage market in Nigeria and facilitate better service delivery has prompted operators of the Primary Mortgage Institutions (PMIs) in the country to initiate moves for the standardisation of existing documents for mortgages. (Mon, 11 Jan 2010 07:48:44 GMT)

District Council offer mortgage help
EAST Lindsey District Council is one of the first Councils in Lincolnshire to provide support to families through the Government's Mortgage Rescue Scheme. (Mon, 11 Jan 2010 08:15:14 GMT)

1m people pay mortgage using credit cards, says Shelter
The survey found that six per cent of respondents had paid their rent or mortgage by credit card in the past 12 months, suggesting a national figure of more than a million people. (Mon, 11 Jan 2010 09:14:12 GMT)

Poly, Chinese Developers Fall on Home-Loan Guidance (Update1)
Jan. 11 (Bloomberg) -- Poly Real Estate Group Co. led declines by China’s developers after the government said it will step up guidance on property lending and seek to curb inflows of speculative capital from abroad. (Mon, 11 Jan 2010 09:36:15 GMT)

You're more likely to get that car loan
NEW YORK -- For car buyers, four words mean the difference between going home in a new sedan or their old clunker: Your loan is approved. (Mon, 11 Jan 2010 09:48:13 GMT)

Shock at credit card mortgage use
Up to one million households have borrowed money on a credit card to pay their mortgage or rent over the past year, a charity's study suggests.Housing charity Shelter said this figure represented 6% o... (Mon, 11 Jan 2010 10:20:01 GMT)

Brazil May Ease Rules to Increase Mortgage Lending, Folha Says
Jan. 11 (Bloomberg) -- The Brazilian government is inclined to ease banking regulations concerning the use of savings deposits for mortgage lending, Folha de S. Paulo reported, without saying where it got the information. (Mon, 11 Jan 2010 10:55:40 GMT)

6 steps to a lower prepayment penalty
It's not easy to waive these hefty loan fees, but this strategy could help reduce the costly sting. (Mon, 11 Jan 2010 11:00:00 GMT)

Small-Bank Crisis Far From Over
Small and regional banks remain most vulnerable to deeply troubled commercial real estate. (Mon, 11 Jan 2010 11:26:01 GMT)

Mortgage fraud is booming
It may have become more difficult for the person on the street to secure a mortgage in the UK, but the mortgage fraud industry is booming. Mortgage fraud accounted for 27% of all fraud in the finance and Insurance sector. (Mon, 11 Jan 2010 13:05:50 GMT)

Yorkshire BS launches mortgage range
Yorkshire Building Society has launched its lowest ever fixed rate mortgage at 3.19% along with a number of cuts across its range of fixed and tracker products of up to 0.60%. (Mon, 11 Jan 2010 13:06:20 GMT)

Carousel mortgage deadline today
The fight over $410 million in mortgages on the Carousel Center could come to a head Monday. (Mon, 11 Jan 2010 13:36:30 GMT)

Scottish Mortgage ends 2009 with a flourish
LONDON (SHARECAST) - Portfolio managers at Scottish Mortgage Investment Trust will have enjoyed their Hogmanay after the trust’s net asset value bounced 8% higher in the fourth quarter of 2009. (Mon, 11 Jan 2010 14:49:37 GMT)

Home Loan adds CEO to management
WARWICK – The troubled Home Loan Investment Bank, a Warwick-based federal saving bank that has grappled with a mortgage portfolio riddled with problem loans, has appointed financial services veteran Dennis F. Walsh as its new CEO. (Mon, 11 Jan 2010 16:58:31 GMT)

Strategic Mortgage Default: The Best Strategy?
If you voluntarily walk away your mortgage because you owe more than the home is worth, are you a bad person? Should you even care? (Mon, 11 Jan 2010 17:14:50 GMT)

Home-Mortgage Bonds ‘Leading the Pack’ as Securities Rally
Jan. 11 (Bloomberg) -- Prices for U.S. home-loan bonds without government-backed guarantees soared, pushing one class of debt almost 20 percent higher than a month ago. (Mon, 11 Jan 2010 17:23:12 GMT)

Houston Home Mortgage Company, MortgageSaver, Announces Site Redesign
HOUSTON, TX--(Marketwire - 01/11/10) - MortgageSaver, the premier source for Houston home mortgage loans, announces the launch of its redesigned website MortgageSaver.org. The new site matches visitors with mortgage brokers around the United States who can help with their real estate financing needs. Unlike many other lending services, MortageSaver makes the mortgage application process quick ... (Mon, 11 Jan 2010 17:25:00 GMT)

Houston Home Mortgage Company, MortgageSaver, Announces Site Redesign
HOUSTON, TX--(Marketwire - January 11, 2010) - MortgageSaver, the premier source for Houston home mortgage loans, announces the launch of its redesigned website MortgageSaver.org. The new site matches visitors with mortgage brokers around the United States who can help with their real estate financing needs. Unlike many other lending services, MortageSaver makes the mortgage application process ... (Mon, 11 Jan 2010 17:29:53 GMT)

Fitch: $47B Prime/Alt-A 2010 IO Loan Resets to Place Added Stress on U.S. ARM Borrowers
NEW YORK----Many U.S. prime and Alt-A mortgage borrowers that are making interest-only monthly payments will experience a payment shock over the next year due to a recasting of these IO loans to full principal and interest payments, according to Fitch Ratings. (Mon, 11 Jan 2010 17:48:00 GMT)

Committee to retire Davis family mortgage plans to raise $200,000 in 20 days
PELHAM — The Davis Family Mortgage Retirement Fund Committee, established in honor of fallen Pelham Police officer Philip Davis, set a goal Monday to retire the Davis family’s mortgage by raising $200,000 during the next 20 days. (Mon, 11 Jan 2010 18:09:19 GMT)

Error affects mortgage relief payments
Revenue says around 1,500 mortgage holders may not have received their most recent payment for mortgage interest tax relief. Revenue said this was due to an error in the information it provided to mortgage lenders about these customers. (Mon, 11 Jan 2010 18:26:52 GMT)

Hoenig Says Fed’s Mortgage Debt Purchases Should End in March
Jan. 11 (Bloomberg) -- Thomas Hoenig , president of the Federal Reserve Bank of Kansas City, said the central bank should end its purchases of mortgage debt as planned in March because the private market for the securities is “healing.” (Mon, 11 Jan 2010 19:30:52 GMT)

Fed's Hoenig: Mortgage Debt Buys Should End in March - Bloomberg
Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said the central bank should end its purchases of mortgage debt as planned in March because the private market for the securities is "healing," Bloomberg News reported on its Web site Monday. (Mon, 11 Jan 2010 19:46:19 GMT)

(AFX UK Focus) 2010-01-11 20:35 Fed's Hoenig: End mortgage debt buys on schedule
WASHINGTON, Jan 11 (Reuters) - A senior U.S. Federal Reserve official said on Monday that the U.S. economy is recovering modestly and persistently and the Fed should end its mortgage debt buying programs as planned. Kansas City Federal Reserve Bank President Thomas Hoenig told Bloomberg News that the Fed should consider raising its target rate for overnight interbank lending even with ... (Mon, 11 Jan 2010 20:57:59 GMT)

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