Mortgage News Jan 2010

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Homebuyer pleads guilty in mortgage fraud case
The first homebuyer has agreed to plead guilty in a growing mortgage fraud case involving expensive Union County homes. (Sat, 16 Jan 2010 05:18:03 GMT)

Can Loan Modifications Cause Trouble Down the Road?
RISMEDIA, January 16, 2010—(MCT)—The last thing many troubled homeowners want to hear is that they could be denied a car loan after they get a chance to modify their home loan. But credit scores can get dinged after a home… (Sat, 16 Jan 2010 05:34:03 GMT)

Permanent home loan modifications jump in Idaho
The number of homeowners approved for federal mortgage modification program has doubled in the past month, but borrowers still are complaining about how banks are responding (or not) to their requests for help. (Sat, 16 Jan 2010 06:22:55 GMT)

U.S. home refinancing demand soars first week of 2010
NEW YORK -- U.S. mortgage applications rose during the first week of 2010, reflecting a surge in demand for home refinancing loans as interest rates dropped, data from an industry group showed on Wedn... (Sat, 16 Jan 2010 07:12:00 GMT)

Profits slide at Xceed Mortgage
Canadian mortgager Xceed Mortgage Corp. posted a 50% slide in fourth quarter profit Thursday on sharply lower revenues. For the quarter ended Oct. 31, the company earned a profit of $800,000 (3 c... (Sat, 16 Jan 2010 07:14:31 GMT)

Mortgage shoppers opt for caution
The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving... (Sat, 16 Jan 2010 08:22:10 GMT)

Profit soars at JPMorgan, but bank still has loan-loss worries
JPMorgan Chase & Co. earned more than analysts expected in the fourth quarter, but it set aside nearly $2 billion to cover consumer loan losses as one in 10 American workers remained unemployed. (Sat, 16 Jan 2010 10:06:35 GMT)

U.S. mortgage relief aids 7% of applicants
ASSOCIATED PRESS WASHINGTON - The Obama Administration's mortgage relief plan provided help to only 7 percent of borrowers who signed up last year - another black mark for the struggling program. The plan was announced with great fanfare 11 months ago, but has done little to stem the foreclosure crisis or its drag on home prices. This week RealtyTrac Inc. reported that a record 2.8 million ... (Sat, 16 Jan 2010 12:51:08 GMT)

Home Buyer Tax Credit Loan Offer
The Mortgage Bankers Association reports there's an added incentive for some homebuyers. (Sat, 16 Jan 2010 14:39:37 GMT)

Federal mortgage modification plan disappointing so far
The Obama administration announced Friday that its much-lauded mortgage modification plan has had a disappointing start, helping far fewer Americans stay in their homes than originally hoped. (Sat, 16 Jan 2010 16:28:00 GMT)

U.S. Mortgage Plan Aided 7 Percent of Borrowers
Only about 66,500 homeowners have received permanent relief out of the 900,000 who have enrolled. (Sat, 16 Jan 2010 19:00:46 GMT)

Sentencing Reset For Trio In Mortgage Fraud Case
Sentencing is rescheduled for three men who pleaded guilty to charges in an alleged mortgage fraud case. (Sat, 16 Jan 2010 19:35:28 GMT)

Federal mortgage modification plan disappointing so far
Red tape and limited savings are hampering the much-lauded $75-billion mortgage modification plan. A new round of government help may be on the way as foreclosures are expected to reach 3 million in 2010. (Sat, 16 Jan 2010 21:57:06 GMT)

HUD subpoenas 15 mortgage companies
The U.S. Department of Housing and Urban Development said it is taking a closer look at 15 mortgage companies to determine why they had... (Sun, 17 Jan 2010 00:03:37 GMT)

Book Review: More Mortgage Meltdown by Whitney Tilson
By Jacob Wolinsky. I have been doing a series of book reviews on the financial crisis. To see my six previous reviews click here. My latest book is More Mortgage Meltdown by Whitney Tilson and Glenn Tongue. Whitney Tilson helped author Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger Read more » » (Sun, 17 Jan 2010 02:02:47 GMT)

What a Mortgage Will Really Cost
Shopping for a mortgage has just gotten simpler: Lenders are now required to use easy-to-understand forms providing basic loan terms and good-faith estimates of closing costs. (Sun, 17 Jan 2010 03:33:09 GMT)

Mortgage rates slide, stay above recent low
Rates for 30-year home loans edged lower for the second straight week, a report said Thursday, but remained above last month's record lows. The average rate on a 30-year fixed mortgage was 5.06 percent last week, down from 5.09 percent a week earlier, mortgage company Freddie Mac said. (Sun, 17 Jan 2010 08:08:09 GMT)

Mortgage lenders exploit a loophole in HUD's new 'good faith estimate' rules
Many are sidestepping the legal requirements for accurate disclosures of fees and settlement charges by using 'work sheets' and 'loan scenario' forms. The federal government's efforts to eliminate settlement cost surprises for home mortgage applicants may have opened the door to a new -- and potentially costly -- set of consumer problems. (Sun, 17 Jan 2010 08:12:12 GMT)

Only 7% of borrowers got mortgage relief help
WASHINGTON — The Obama administration’s mortgage relief plan provided help to only 7 percent of borrowers who signed up last year, another black mark for the struggling program. (Sun, 17 Jan 2010 08:15:41 GMT)

Second Thoughts: Think Twice Before Applying For New Home Loan
Tempted to apply for a second mortgage? Many homeowners view a second mortgage through rose-colored windows, especially if they've overspent or accumulated a stack of bills or credit-card debt. (Sun, 17 Jan 2010 08:28:33 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, 17 Jan 2010 09:07:28 GMT)

Plan for Lockport neighborhood put on hold without federal loan
LOCKPORT -- The $8.5 million makeover of a run-down city neighborhood is off, at least for this year, after the developers lost out on a $2 million low-interest federal loan. (Sun, 17 Jan 2010 12:11:44 GMT)

U.S. home refinancing demand soars first week of 2010
NEW YORK -- U.S. mortgage applications rose during the first week of 2010, reflecting a surge in demand for home refinancing loans as interest rates dropped, data from an industry group showed on Wedn... (Sun, 17 Jan 2010 12:12:40 GMT)

Profits slide at Xceed Mortgage
Canadian mortgager Xceed Mortgage Corp. posted a 50% slide in fourth quarter profit Thursday on sharply lower revenues. For the quarter ended Oct. 31, the company earned a profit of $800,000 (3 c... (Sun, 17 Jan 2010 12:15:34 GMT)

Mortgage shoppers opt for caution
The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving... (Sun, 17 Jan 2010 12:17:34 GMT)

WENGER WEIGHS UP WILSHERE LOAN
Jack Wilshere - set for loan move. Arsene Wenger has ruled out letting Jack Wilshere join FC Twente as Bolton Wanderers prepare to discuss a loan deal for the Arsenal youngster. (Sun, 17 Jan 2010 12:29:57 GMT)

U.S. home refinancing demand soars first week of 2010
NEW YORK -- U.S. mortgage applications rose during the first week of 2010, reflecting a surge in demand for home refinancing loans as interest rates dropped, data from an industry group showed on Wedn... (Sun, 17 Jan 2010 13:42:43 GMT)

Profits slide at Xceed Mortgage
Canadian mortgager Xceed Mortgage Corp. posted a 50% slide in fourth quarter profit Thursday on sharply lower revenues. For the quarter ended Oct. 31, the company earned a profit of $800,000 (3 c... (Sun, 17 Jan 2010 13:45:03 GMT)

Mortgage shoppers opt for caution
The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving... (Sun, 17 Jan 2010 13:47:14 GMT)

National 30-Year Fixed Mortgage Rate Falls Back under 5.00%
RISMEDIA, January 18, 2010—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased six basis points last week to 4.99%, down from 5.05% the week prior, according to the Zillow Mortgage Rate Monitor, compiled… (Sun, 17 Jan 2010 18:04:03 GMT)

Permanent TSB to hike mortgage rates
Permanent TSB is to increase mortgage rates by an expected 0.5 per cent for its standard variable rate borrowers by early next month. (Sun, 17 Jan 2010 18:04:17 GMT)

Homeowners opt to flee instead of fight as loan modifications start to lose luster
Homeowners opt to flee instead of fight as loan modifications start to lose luster (Sun, 17 Jan 2010 18:58:03 GMT)

Banks say no to uniform home loan rate cut
Banks say no to uniform home loan rate cutBanks say no to uniform home loan rate cut (Sun, 17 Jan 2010 23:40:32 GMT)

Home-buying program for speakers of Cantonese offered in Quincy
Quincy Community Action Programs and the Quincy Housing Authority will, on Feb. 27 and 28, conduct a workshop for first-time home buyers who speak Cantonese. (Sun, 17 Jan 2010 23:59:29 GMT)

World Cup 2010 Exclusive: Socceroo Bruce Djite Admits No Guarantees In Loan Move
Socceroo Bruce Djite says there is no assurance that his loan move from Genclerbirligi to fellow Turkish Super League outfit Diyarbakirspor will bring first-team football but that the chance of getting regular game time was reason enough to move just six months out from the 2010 World Cup in South Africa. (Mon, 18 Jan 2010 03:22:09 GMT)

New mortgage rules curb closing-cost surprises
Buying a home should be a joyful experience, but all too often, the mortgage settlement process leaves consumers confused, angry and paying more than they anticipated. (Mon, 18 Jan 2010 03:45:02 GMT)

First-time Home Buyers Can Get Up to $20,000 in Down Payment Assistance.
First-time home buyers in Idaho can now get up to $20,000 dollars in down payment assistance. (Mon, 18 Jan 2010 04:53:18 GMT)

Refinance at low interest rate and pay off mortgage faster
Q: I owe $130,000 on my home mortgage at an interest rate of 6.125 percent. I will be retiring in five years and would like to pay down this mortgage as aggressively as possible while I am still working. I will be unable to pay the entire balance. (Mon, 18 Jan 2010 04:56:59 GMT)

World Cup 2010 Exclusive: Socceroo Bruce Djite Admits No Guarantees In Loan Move
Socceroo Bruce Djite says there is no assurance that his loan move from Genclerbirligi to fellow Turkish Super League outfit Diyarbakirspor will bring first-team football but that the chance of getting regular game time was reason enough to move just six months out from the 2010 World Cup in South Africa. (Mon, 18 Jan 2010 09:52:09 GMT)

Loan Modification Recipients Fall Short, Drop Out (Update1)
Jan. 15 (Bloomberg) -- About 25 percent of homeowners who received trial loan modifications through President Barack Obama’s main foreclosure prevention plan are failing to keep up with their new reduced payments, the Treasury Department said. (Mon, 18 Jan 2010 10:13:50 GMT)

Mortgage milestone passed
Figures from moneysupermarket.com show available mortgage products have increased for the third month in a row. However this is a far cry from pre credit crunch conditions. (Mon, 18 Jan 2010 10:20:41 GMT)

U.S. home refinancing demand soars first week of 2010
NEW YORK -- U.S. mortgage applications rose during the first week of 2010, reflecting a surge in demand for home refinancing loans as interest rates dropped, data from an industry group showed on Wedn... (Mon, 18 Jan 2010 10:56:07 GMT)

Profits slide at Xceed Mortgage
Canadian mortgager Xceed Mortgage Corp. posted a 50% slide in fourth quarter profit Thursday on sharply lower revenues. For the quarter ended Oct. 31, the company earned a profit of $800,000 (3 c... (Mon, 18 Jan 2010 10:58:18 GMT)

Credit card may beat home equity loan
Credit card debt may trump a home equity loan for a couple planning a home improvement project. (Mon, 18 Jan 2010 11:00:00 GMT)

Mortgage shoppers opt for caution
The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving... (Mon, 18 Jan 2010 11:00:08 GMT)

Credit card may beat home equity loan
Dear Dr. Don, I have a question about whether to use a home equity loan to finance a home improvement project. My husband and I want to do some landscaping projects in our backyard this coming summer. (Mon, 18 Jan 2010 11:42:00 GMT)

Hull City snap up Egypt striker Zaki on loan
Hull City have announced they have signed Egypt international Amr Zaki on loan from Zamalek FC. The wantaway striker, who former Wigan boss Steve Bruce labelled "the most unprofessional player" he had ever worked with, has joined the Tigers until the end of the season. (Mon, 18 Jan 2010 12:06:58 GMT)

Tigers seal Zaki loan switch
Hull City have completed the signing of Egypt international striker Amr Zaki on loan from Zamalek until the end of the season. The 26-year-old scored 11 goals in 32 appearances during a loan spell with Wigan Athletic last season and has been linked with a return to England on several occasions. (Mon, 18 Jan 2010 12:22:49 GMT)

Former Wigan striker Zaki agrees to join Hull on loan until the end of the season
Amr Zaki has agreed to join relegation threatened Hull City on loan until the end of the season. The Egyptian international is missing the Africa Cup of Nations through injury. (Mon, 18 Jan 2010 12:46:00 GMT)

Hull City snap up Egypt striker Zaki on loan
Hull City have announced they have signed Egypt international Amr Zaki on loan from Zamalek FC. The wantaway striker, who former Wigan boss Steve Bruce labelled "the most unprofessional player" he had ever worked with, has joined the Tigers until the end of the season. (Mon, 18 Jan 2010 14:07:18 GMT)

/C O R R E C T I O N from Source - Timbercreek Mortgage Investment Corporation/
Timbercreek Asset Management Inc. , on behalf of Timbercreek Mortgage Investment Corporation , is pleased to announce a Non-Brokered Private Placement of 200,000 Class B Shares at $10 per Class B Share effective January 15, 2010. (Mon, 18 Jan 2010 15:09:00 GMT)

Zenit pull out of Pavlyuchenko deal as Tottenham reject Russians' loan bid
Zenit St Petersburg have pulled out of the race to sign Russia striker Roman Pavlyuchenko. Tottenham rejected the Russians' bid to take him on loan for the rest of the season. (Mon, 18 Jan 2010 15:09:19 GMT)

(AFX UK Focus) 2010-01-18 14:54 BRIEF-DnB NOR raises mortgage lending rates
OSLO, Jan 18 (Reuters) - Norway's DnB NOR said: * Raises mortgage lending rates by 25 basis points (Reporting by Oslo newsroom) Keywords: DNBNOR MORTGAGE/ (Mon, 18 Jan 2010 15:14:02 GMT)

Zanoski Returned On Loan From AHL Albany
The Gwinnett Gladiators announced today that forward Tom Zanoski has been returned on loan from the Albany River Rats of the AHL. He went scoreless and recorded two penalty minutes in two games with the River Rats. It was Zanoski's second call-up to the AHL this season, after he appeared in eight games with the Binghamton Senators from December 15 to January 12. In 25 games with the Gladiators ... (Mon, 18 Jan 2010 17:11:18 GMT)

Clearer mortgage documents make shopping easier
Shopping for a mortgage gets easier this year with new, simple-to-understand good-faith estimate forms that all lenders are now required to use -- making it less of a hassle for consumers to compare loan costs. (Mon, 18 Jan 2010 17:15:50 GMT)

KBank-SMC loan tie-up for low-income earners
Kasikornbank is seeking to lend to low-income home-buyers by passing on the loans to the Secondary Mortgage Corp. (Mon, 18 Jan 2010 17:27:52 GMT)

Mortgage Principal Reduction: Why "Re-Equifying" Borrowers Could Exacerbate The Mortgage Mess
What's Your Reaction? Many critics of the Obama administration's mortgage loan-modification program say it won't work because it doesn't do enough to address "negative equity," the plight of people who owe more on their home loans than the current value of those properties. (Mon, 18 Jan 2010 19:29:24 GMT)

Welsh Capital sets up refinancing for Park ’N Go
Minnetonka-based Welsh Capital announced that the recent closing of a $6.675 million, fixed-rate refinancing of the Park ’N Go facility at 7901 International Drive in Bloomington. (Mon, 18 Jan 2010 20:28:02 GMT)

$65 million refinancing completed for downtown office tower
Mortgage banking firm Holliday Fenoglio Fowler L.P. said Monday that it has completed a $65 million refinancing for 1700 Pacific office tower in downtown Dallas. (Mon, 18 Jan 2010 21:12:02 GMT)

Mortgage Modifications Double in December 2009
RISMEDIA, January 19, 2010—(MCT)-After a month of intense pressure on banks and other mortgage servicers, the Obama administration recently reported improvement in its much-criticized program to reduce mortgage payments to stave off foreclosures. The number of temporary loan modifications that had been… (Mon, 18 Jan 2010 21:34:04 GMT)

Can Loan Modifications Cause Trouble Down the Road?
RISMEDIA, January 19, 2010—(MCT)-The last thing many troubled homeowners want to hear is that they could be denied a car loan after they get a chance to modify their home loan. But credit scores can get dinged after a home… (Mon, 18 Jan 2010 21:34:34 GMT)

Stephen Colbert Takes On The 'Walk Away From Your Mortgage' Movement (VIDEO)
With an increasing number of people walking away from their underwater mortgages, there's much discussion among the chattering classes about so-called strategic defaults. Conservatives critics, meanwhile, suggest walking out on your mortgage is akin to breaking your word. (Mon, 18 Jan 2010 21:44:14 GMT)

250,000 mortgage holders face hike
AS many as 250,000 homeowners on standard variable loans may soon be forced to pay out at least an extra €76.50 per month on mortgage repayments. (Tue, 19 Jan 2010 00:58:29 GMT)

New rules aim to reduce home buyers' confusion at closing table
New rules aim to reduce confusion and ultimately save home buyers money. The new rules will make the home buying process more consistent, more transparent and hopefully more reliable. (Tue, 19 Jan 2010 02:37:12 GMT)

Atlanta Family Gets Mortgage Relief
Metro Atlanta family gets mortgage relief after CBS Atlanta News asks the tough questions. (Tue, 19 Jan 2010 03:24:23 GMT)

Guinness Wealth Managers Avoid Corporate Bonds, Prefer Stocks
Jan. 19 (Bloomberg) -- The managers of the Guinness brewing family’s fortune are putting more money into stocks and avoiding government and corporate bonds because of concern about rising debt in places such as the U.K. (Tue, 19 Jan 2010 03:46:33 GMT)

Springville Playhouse losing home
Pulling the rug out from under one local theater company may feel like breaking two legs, but in reality, it could mean a new start. Utah’s longest-running community theater troupe, the Springville Playhouse, is losing its home after 45 years of performing in the basement of the Springville City Library. The library will be torn down and rebuilt as the final development of a three step plan to ... (Tue, 19 Jan 2010 04:02:38 GMT)

Home loan program aims to keep city workers living in Mountain View
Buying homes in Mountain View could get easier for city employees, under a plan set to be reviewed tonight by the city council (Tue, 19 Jan 2010 04:22:21 GMT)

Mortgage shoppers opt for caution
The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving... (Tue, 19 Jan 2010 04:51:26 GMT)

Bank of America May Post Loss on TARP Payment, Loan Defaults
Jan. 19 (Bloomberg) -- Bank of America Corp ., the largest U.S. lender, may report its third loss in the past five quarters as its new chief executive officer tallies costs from consumer loan defaults and repaying bailout funds. (Tue, 19 Jan 2010 06:10:50 GMT)

Bank of America May Post Loss on TARP Payment, Loan Defaults
Bank of America Corp., the largest U.S. lender, may report its third loss in the past five quarters as its new chief executive officer tallies costs from consumer loan defaults and repaying bailout funds. (Tue, 19 Jan 2010 06:33:32 GMT)

Mortgage costs fall to five-year low
Percentage of income needed to cover monthly interest payments falls to 12%, the Council of Mortgage Lenders says The cost of servicing a mortgage fell to its lowest level in five years in November, figures showed today, with the biggest winners being home movers. Figures from the Council of Mortgage Lenders (CML) show falling interest rates and house prices, and lenders' demands for larger ... (Tue, 19 Jan 2010 07:02:35 GMT)

Mortgage rates cut as lenders rush to beat competition
Homebuyers have the pick of cheap fixed rate mortgages Homebuyers looking for a low-cost short term fixed rate mortgage will find themselves in luck, with increased competition driving rates down. A number of providers have launched attractively priced mortgages in the past couple of weeks, suggesting January will see a continuation of the downward trend in pricing. According to the latest Bank ... (Tue, 19 Jan 2010 07:03:14 GMT)

New home loans up 1,600% in Shanghai
Mainland banks in Shanghai's red-hot housing market lent 99.58 billion yuan (RM48.67 billion) in new mortgages last year, up dramatically from 5.8 billion yuan in 2008, as home seekers rushed to buy and prices hit new highs. (Tue, 19 Jan 2010 07:45:10 GMT)

Sleaze watchdog to rule on George Osborne's mortgage claims
The House of Commons sleaze watchdog is expected to decide today whether Shadow Chancellor George Osborne should face any reprimand or penalty over allegations that he over-claimed mortgage payments on his second home. (Tue, 19 Jan 2010 08:04:38 GMT)

Government mortgage plan aids 7 percent of borrowers
WASHINGTON — The Obama administration's mortgage relief plan provided help to only 7 percent of borrowers who signed up last year, another black mark for the struggling program. (Tue, 19 Jan 2010 09:05:19 GMT)

U.K. Dec. RPI Excld. Mortgage Interest Payments Up 3.8% Annually, Consensus 3.5%
(RTTNews) - U.K. Dec. RPI Excld. Mortgage Interest Payments Up 3.8% Annually, Consensus 3.5% (Tue, 19 Jan 2010 09:38:50 GMT)

Guinness Wealth Managers Avoid Corporate Bonds, Prefer Stocks
Jan. 19 (Bloomberg) -- The managers of the Guinness brewing family’s fortune are putting more money into stocks and avoiding government and corporate bonds because of concern about rising debt in places such as the U.K. (Tue, 19 Jan 2010 09:47:33 GMT)

Treasury Delay on Bank Home-Equity Debt Imperils Housing Pickup
Jan. 19 (Bloomberg) -- The U.S. Treasury Department has failed to win agreements to get struggling borrowers’ home- equity debt reworked, among the biggest roadblocks to reducing foreclosures that may reach a record 3 million this year. (Tue, 19 Jan 2010 11:54:17 GMT)

VA Mortgage Lender Gives Back To Soldiers and Veterans
Some 250 employees of iFreedom Direct Corporation, a top-twenty national VA mortgage company, have made a difference with two very personal donations. The employees gave generously with payroll deductions to make up the collective donation to the Navajo Code Talkers Association and a phone home project for Utah soldiers serving in Afghanistan. (Tue, 19 Jan 2010 12:00:00 GMT)

National 30-Year Fixed Mortgage Rate Remains Below 5.00% for Second Straight Week
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased five basis points last week to 4.94 percent, down from 4.99 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. (Tue, 19 Jan 2010 13:00:00 GMT)

Home loan program aims to keep city workers living in Mountain View
Buying homes in Mountain View could get easier for city employees, under a plan set to be reviewed tonight by the city council. (Tue, 19 Jan 2010 13:06:06 GMT)

Roosevelt ("BJ") McKitty Joins HomeBanc as Mortgage Loan Officer
TAMPA, FL--(Marketwire - January 19, 2010) - Tampa-based HomeBancorp, Inc. has named Roosevelt ("BJ") McKitty as Mortgage Loan Officer for HomeBanc. He is based in HomeBanc's Rocky Point office, located at 7650 Courtney Campbell Causeway, Suite 150 in Tampa. Mr. McKitty brings to HomeBanc more than 20 years of mortgage lending experience. He can be reached at (813) 749-2949 or bj ... (Tue, 19 Jan 2010 15:35:24 GMT)

Mass. Mortgage Rates Back Below 5 Percent
The average rate for a 30-year fixed mortgage in the state fell below 5 percent last week to 4.98 percent, down from 5.03 percent the prior week, according to online mortgage tracker Zillow. (Tue, 19 Jan 2010 15:55:55 GMT)

Home repair resources underutilized
WAVERLY — The Village of Waverly has been offering a low-interest loan to low-to-moderate-income property owners needing to make necessary home repairs for the later half of this decade. However, few homeowners have yet to take advantage of this Community Development Block Grant program. (Tue, 19 Jan 2010 16:37:07 GMT)

The Best Mortgage for You
For anyone shopping for a mortgage these days the choice is pretty simple: the straightforward, old-fashioned 30-year, fixed-rate deal is the best. A quick look shows the 15-year, fixed loan isn't quite cheap enough. And the various adjustable-rate loans..... Well, don't waste your time. Now, if you already have an adjustable loan, or ARM, you may be thrilled with the way things are turning out ... (Tue, 19 Jan 2010 17:17:47 GMT)

No More Loan For Lowry
Villa left-back Shane Lowry is unlikely to return to Plymouth, according to Argyle boss Paul Mariner. The 20-year-old defender recently completed a three-month loan spell at Home Park and made 13 appearances for the Championship strugglers. (Tue, 19 Jan 2010 17:35:57 GMT)

Mortgage-Bond Leverage Reaches 10-to-1, Markets Heal (Update1)
Jan. 19 (Bloomberg) -- Wall Street firms are loosening terms of their lending to mortgage-bond investors as markets heal, an RBS Securities Inc. executive said. (Tue, 19 Jan 2010 18:02:37 GMT)

A look at mortgage term life insurance
A potential "helping hand" for a homeowner's heirs. No one wants to saddle their heirs with the hard choice of paying off an unsettled mortgage or selling or losing a home. A mortgage term life insurance policy can provide relief in such a dilemma. Simply put, this is a term life policy designed for homeowners. If you die owing a huge sum to a mortgage lender, the proceeds from the policy will ... (Tue, 19 Jan 2010 18:09:03 GMT)

Georgetown Savings Bank Commits $1.5M For Veterans’ Loan Program
Georgetown Savings Bank has been named an approved lender of MassHousing's "A Home for the Brave" loan program for local veterans. The Georgetown-based bank has committed $1.5 million to the innovative loan program for veterans, according to a statement. (Tue, 19 Jan 2010 18:10:56 GMT)

Citigroup loses $7.8B in 4Q
The big banks are showing they can still make money, even as Main Street struggles -- though not from lending, refinancing homes or other bread-and-butter business. Instead, they're doing what Wall S... (Tue, 19 Jan 2010 18:44:14 GMT)

FundWatch: Fund manager sees another crash in home prices
Tom Forester is worried about another fall in the housing market -- and given his track record, it’s worth listening to his concerns. (Tue, 19 Jan 2010 20:01:10 GMT)

Treasury Delay on Home-Equity Debt Imperils Housing (Update1)
Jan. 19 (Bloomberg) -- The U.S. Treasury Department has failed to win agreements to get struggling borrowers’ home- equity debt reworked, among the biggest roadblocks to reducing foreclosures that may reach a record 3 million this year. (Tue, 19 Jan 2010 20:52:37 GMT)

Fund Manager Sees Another Crash In Home Prices
Fund Manager Sees Another Crash In Home Prices (Tue, 19 Jan 2010 21:24:22 GMT)

National 30-Year Fixed Mortgage Rate Remains Below 5.00% for Second Straight Week
RISMEDIA, January 20, 2010—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased five basis points last week to 4.94%, down from 4.99% the week prior, according to the Zillow Mortgage Rate Monitor, compiled… (Tue, 19 Jan 2010 21:34:03 GMT)

Mortgage-Bond Leverage Reaches 10-to-1, Markets Heal (Update1)
Jan. 19 (Bloomberg) -- Wall Street firms are loosening terms of their lending to mortgage-bond investors as markets heal, an RBS Securities Inc. executive said. (Tue, 19 Jan 2010 21:52:58 GMT)

Citigroup To Return Mortgage Operations To Retail Business
NEW YORK -(Dow Jones)- One year after stripping its entire mortgage business from its retail bank, Citigroup Inc. (C) is rethinking that decision. (Tue, 19 Jan 2010 22:03:55 GMT)

Commercial Mortgage-Backed Debt Sales to Stay Below $15 Billion
Sales of commercial mortgage-backed securities will likely remain below $15 billion in 2010 as borrowers struggle with declining property values, according to analysts at Barclays Capital and JPMorgan Chase & Co. (Tue, 19 Jan 2010 22:18:32 GMT)

5/3 lending stable in Nov.
Fifth Third Bancorp reported Tuesday it extended $5.4 billion worth of credit in November, in a monthly lending disclosure as part of its participation in the Troubled Asset Relief Program, which invested $3.4 billion in the Cincinnati-based regional bank. Total monthly lending was unchanged from the $5.4 billion lent in October. The bank reported total mortgage lending dipped 5.9 percent to $1 ... (Tue, 19 Jan 2010 22:44:46 GMT)

U.S. Bank customers use federal mortgage relief plan
Minneapolis-based U.S. Bank is now helping about 25 percent of the borrowers eligible for a federal plan to reduce their mortgage payments. (Tue, 19 Jan 2010 23:39:49 GMT)

Mortgage shoppers opt for caution
The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving... (Tue, 19 Jan 2010 23:51:30 GMT)

On Your Side: Housing assistance can push you over the fence when buying a home
First-time buyers can receive down payment assistance from the department by qualifying. In Augusta, people who make less than $31,100 per year can qualify. For families, the qualifying amount is $35,500 or less. They must also be previously approved for a home loan. (Wed, 20 Jan 2010 01:18:06 GMT)

Citigroup To Return Mortgage Operations To Retail Business
gave the strongest indication yet that Citi intends to keep more than just a toe in the mortgage business. He also sent a signal that mortgages are attractive assets, rather than just toxic waste t... (Wed, 20 Jan 2010 01:35:43 GMT)

FHA Raises Premiums, Down Payments Amid Mortgage Delinquencies
The cost of a government-guaranteed mortgage will be more expensive for U.S. homebuyers as the Federal Housing Administration raises insurance rates and tightens credit-score rules to combat a rise in delinquencies. (Wed, 20 Jan 2010 03:03:53 GMT)

Osborne faces order to repay his expenses: Rebuke for Shadow Chancellor over mortgage
A report by Parliament's sleaze watchdog is expected to reprimand the Shadow Chancellor after concluding he broke Commons rules - albeit unintentionally - by overclaiming on his mortgage. (Wed, 20 Jan 2010 03:56:05 GMT)

Harder to get an Uncle Sam mortgage
It's going to be harder to get a government-backed mortgage from now on. (Wed, 20 Jan 2010 04:42:12 GMT)

Foreclosure proceedings stopped: Valley Mortgage’s Lochmiller arrested
Federal authorities arrested Valley Investments [known locally as Valley Mortgage] Philip Rand Lochmiller Sr., 61, Wednesday in Colorado. (Wed, 20 Jan 2010 04:51:35 GMT)

Dynex Capital refinances some of its commercial mortgage-backed securities holdings
A Richmond real estate investment trust has re-entered the market for one of the most troubled of financial assets. Dynex Capital Inc. has refinanced some of its commercial mortgage-backed securities holdings, the company disclosed yesterday evening. At the same time, Dynex said it is now eligible to participate in a federal loan program meant to pump new life into the $700 billion market for ... (Wed, 20 Jan 2010 05:07:54 GMT)

Stop these teaser loan rates, please!
People who cannot afford long-term higher rate home loans are lured by these teaser rates, only to rue their fate later, says Business Standard. (Wed, 20 Jan 2010 06:12:27 GMT)

FHA Raises Down Payments, Premiums Amid Mortgage Delinquencies
Jan. 20 (Bloomberg) -- The Federal Housing Administration is raising insurance rates and tightening credit-score rules to combat a rise in delinquencies , making a government-guaranteed mortgage more expensive for U.S. homebuyers. (Wed, 20 Jan 2010 06:37:31 GMT)

Homeowner's behavior a mortgage factor
BIRMINGHAM, Ala., Jan. 20 (UPI) -- A mortgage borrower's personal traits and behaviors, not just income or credit scores, affect the ability to repay the mortgage, U.S. researchers suggest. (Wed, 20 Jan 2010 06:53:21 GMT)

Westpac tightens mortgage criteria
Westpac Banking Corporation has tightened its mortgage loan criteria and realigned its funding towards high-quality mortgage intermediaries. (Wed, 20 Jan 2010 07:53:58 GMT)

$8 million in assets - and can't get a mortgage
The wealthy have money problems, too -- yeah they do. (Wed, 20 Jan 2010 08:57:12 GMT)

U.S. mortgage demand up for third week as rates drop
Demand for U.S. home loans rose last week for the third straight week as mortgage rates fell to a one-month low and stoked refinancing, an industry group said on Wednesday. (Wed, 20 Jan 2010 12:04:30 GMT)

U.S. mortgage demand up for third week as rates drop
By Lynn Adler (Wed, 20 Jan 2010 12:04:30 GMT)

Mortgage results in area mixed in '09
By JON CHAVEZ BLADE BUSINESS WRITER With bank lending for commercial projects drying up and residential refinancing hampered by a rash of delinquencies and foreclosures, mortgage activity in 2009 was mixed throughout northwest Ohio and southeast Michigan. The number of mortgages recorded last year dropped by 2 percent in Lucas County and by 4 percent in Monroe County. They were up in Wood and ... (Wed, 20 Jan 2010 12:14:21 GMT)

Mortgage applications rose 9.1% last week: MBA
Mortgage filings increase a seasonally adjusted 9.1% in the second week of January from the first week, mainly reflecting an uptick in refinancing activity, Mortgage Bankers Association data show. (Wed, 20 Jan 2010 12:15:50 GMT)

Canada Inflation Quickens Less Than Expected on Mortgage Costs
Jan. 20 (Bloomberg) -- Canada’s inflation accelerated less than economists expected last month, staying below the central bank’s target, with the rate restrained by lower costs for mortgage interest, natural gas and clothing. (Wed, 20 Jan 2010 12:34:24 GMT)

Canada Inflation Rise Blunted by Lower Mortgage Costs (Update1)
Jan. 20 (Bloomberg) -- Canada’s inflation accelerated less than economists expected last month, staying below the central bank’s target because of lower costs for mortgage interest, natural gas and clothing. (Wed, 20 Jan 2010 12:49:31 GMT)

Mass. Market: State legislature will be asked to tackle controversial home appraisal system
While Congress weighs potential fixes to a controversial new system for home appraisals, the Massachusetts Board of Real Estate Appraisers is crafting legislation to address this at the state level. This bill would regulate appraisal management companies – intermediaries that are increasingly called upon to assign appraisers for a refinancing or home closing. (Wed, 20 Jan 2010 13:13:29 GMT)

Stock futures fall as home construction drops
Stock futures are lower, pointing to a weaker opening, as the government says home construction fell unexpectedly last month. (Wed, 20 Jan 2010 13:49:10 GMT)

Home repair resources underutilized
WAVERLY — The Village of Waverly has been offering a low-interest loan to low-to-moderate-income property owners needing to make necessary home repairs for the later half of this decade. However, few homeowners have yet to take advantage of this Community Development Block Grant program. (Wed, 20 Jan 2010 14:36:29 GMT)

FHA Raises Premiums, Down Payments Amid Mortgage Delinquencies
The cost of a government-guaranteed mortgage will be more expensive for U.S. homebuyers as the Federal Housing Administration raises insurance rates and tightens credit-score rules to combat a rise in delinquencies. (Wed, 20 Jan 2010 14:48:42 GMT)

FHA mortgage loan standards tightened
Home buyers will find it a little more expensive to get a loan insured by the Federal Housing Administration, under changes announced this morning. (Wed, 20 Jan 2010 16:18:42 GMT)

Wells Fargo Reports Profit as Mortgage Banking Climbs (Update2)
Jan. 20 (Bloomberg) -- Wells Fargo & Co. , one of the two biggest U.S. home lenders in 2009, reported a fourth straight quarterly profit as revenue climbed from mortgage banking and costs declined from its purchase of Wachovia Corp. (Wed, 20 Jan 2010 16:22:35 GMT)

Mortgage activity rises in week
WASHINGTON, Jan. 20 (UPI) -- The volume of applications for U.S. mortgages rose 9.1 percent in a week on a seasonally adjusted basis, an industry group said Wednesday. (Wed, 20 Jan 2010 16:39:21 GMT)

FHA mortgage loan standards tightened
Home buyers will find it a little more expensive to get a loan insured by the Federal Housing Administration, under changes announced Wednesday. (Wed, 20 Jan 2010 17:09:07 GMT)

FHA Raises Down Payments, Premiums Amid Mortgage Delinquencies
Jan. 20 (Bloomberg) -- The Federal Housing Administration is raising insurance rates and tightening credit-score rules to combat a rise in delinquencies , making a government-guaranteed mortgage more expensive for U.S. homebuyers. (Wed, 20 Jan 2010 17:57:21 GMT)

Juve sign Italy midfielder Candreva on loan
Faltering Juventus signed Italy midfielder Antonio Candreva on loan on Wednesday to boost their dwindling midfield options. (Wed, 20 Jan 2010 18:01:36 GMT)

Mortgage pain persists for BofA, other big banks
In a sign that the U.S. banking sector's problems are far from over, lenders including Bank of America Corp reported falling bond trading revenue and mortgage lending weakness in the fourth quarter. (Wed, 20 Jan 2010 18:35:09 GMT)

30-year mortgage rate remains below 5%
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased five basis points last week to 4.94 percent, down from 4.99 percent the week prior, according to the Zillow Mortgage Rate Monitor.In Washington, the rate fell six basis points, from 5 percent to 4.94 percent. ... (Wed, 20 Jan 2010 18:43:42 GMT)

FHA Seeks Higher Mortgage Insurance Premiums
The Federal House Administration announced Wednesday it will ask Congress for new authority to increase the mortgage insurance premiums it charges to home buyers, as well as enhanced power to regulate lenders. (Wed, 20 Jan 2010 18:58:15 GMT)

'GPS For Mortgage Pricing:' New Web Tool To Expose Abusive Mortgages By Revealing Zip Code-Level Averages For Interest ...
U.S. Homebuyers Now Empowered to Spot and Avoid Predatory Mortgages With Abusive Pricing; Private, Non-Commercial & Unbiased Consumer Tool Launched by Fair Mortgage Collaborative. WASHINGTON, Jan. (Wed, 20 Jan 2010 19:05:51 GMT)

Wells Fargo Reports Profit as Mortgage Banking Climbs (Update3)
Jan. 20 (Bloomberg) -- Wells Fargo & Co. , one of the two biggest U.S. home lenders in 2009, reported a fourth straight quarterly profit as revenue climbed from mortgage banking and costs declined from its purchase of Wachovia Corp. (Wed, 20 Jan 2010 19:40:42 GMT)

Banks pulled up for fine on home loan pre-pay
Competition watchdog CCI has asked about two dozen banks and housing finance companies, including HDFC, ICICI Bank, and LICHF, to explain their imposing penalty on borrowers for pre-payment of home loans. (Wed, 20 Jan 2010 20:37:12 GMT)

FHA increases premiums, tightens loan standards
Ever since home mortgage lenders tightened their standards, home buyers without much money for a down payment have turned to the Federal Housing Administration (FHA), which was far more lenient. (Wed, 20 Jan 2010 21:13:59 GMT)

FHA raises fees, tightens mortgage underwriting
The Federal Housing Administration says it would raise down-payment requirements, boost its mortgage-insurance premiums and tighten its loan underwriting practices in the face of rising foreclosures and delinquencies. (Wed, 20 Jan 2010 21:16:21 GMT)

FHA Raises Premiums, Down Payments Amid Mortgage Delinquencies
The cost of a government-guaranteed mortgage will be more expensive for U.S. homebuyers as the Federal Housing Administration raises insurance rates and tightens credit-score rules to combat a rise in delinquencies. (Wed, 20 Jan 2010 22:04:02 GMT)

Mortgage pain persists for BofA, Wells, U.S. Bancorp
In a sign that the U.S. banking sector's problems are far from over, lenders including Bank of America Corp reported falling bond trading revenue and mortgage lending weakness in the fourth quarter. (Wed, 20 Jan 2010 22:11:41 GMT)

How Wells Fargo Spins Profits From Mortgage Rate Hedges
NEW YORK -(Dow Jones)- The business of servicing mortgages typically turns out steady, if unexciting, profits. Wells Fargo & Co. (WFC), armed with some timely hedges, has lately turned it into a money machine. (Wed, 20 Jan 2010 22:34:25 GMT)

No sign of mortgage fund thaw
Mortgage funds now face the delicate balancing act of meeting the interests of both investors waiting for the sector's recovery and those still looking for an exit strategy. (Wed, 20 Jan 2010 22:51:14 GMT)

How Wells Fargo Spins Profits From Mortgage Rate Hedges
How Wells Fargo Spins Profits From Mortgage Rate Hedges (Wed, 20 Jan 2010 22:54:21 GMT)

Mortgage rates rise to highest in four months
Mortgage rates in the U.S. rose to the highest since August, raising the prospect that the budding housing recovery will stall as home buying becomes more costly. (Wed, 20 Jan 2010 23:17:28 GMT)

Modified loan on home can hurt
The last thing many troubled homeowners want to hear is that they could be denied a car loan after they get a chance to modify their home loan. (Wed, 20 Jan 2010 23:21:20 GMT)

FHA increases premiums, tightens loan standards
The Federal Housing Authority's (FHA) measures are expected to help replenish the agency's depleted capital reserves and quell rising delinquencies. The move to increase premiums and tighten loan standards could have an impact on low-income borrowers. (Wed, 20 Jan 2010 23:30:48 GMT)

Sallie Mae Posts $309 Million Profit, Loan Costs Fall (Update1)
Jan. 20 (Bloomberg) -- SLM Corp. , the largest U.S. student loan company, reported net income of $309 million in the fourth quarter, its second straight three-month profit following four periods of losses. (Thu, 21 Jan 2010 00:07:52 GMT)

Mortgage pain persists
CHARLOTTE/NEW YORK - IN A sign that the US banking sector's problems are far from over, lenders including Bank of America Corp reported falling bond trading revenue and mortgage lending weakness in the fourth quarter. Stock investors shrugged off some of the problems and focused on banks' improving credit quality, and shares of many major banks outperformed the broader market. But bond investors ... (Thu, 21 Jan 2010 01:21:56 GMT)

Taxes, Refinancing and Mortgage Modification: Four Useful Tips
----If you’re like most Americans, April 15 is not your favorite day of the year. The day the tax forms are due. With all of the economic upheaval, filing this year may be trickier than others, which weren’t all that easy in the first place. (Thu, 21 Jan 2010 09:35:00 GMT)

Thornhill makes Robins loan switch
Nottingham Forest midfielder Matt Thornhill has joined Cheltenham on a month`s loan. (Thu, 21 Jan 2010 10:48:42 GMT)

Mortgage rates move lower for 3rd week
While mortgage rates continue to drop, the cost of an FHA-insured mortgage is set to rise. (Thu, 21 Jan 2010 11:00:00 GMT)

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