(AFX UK Focus) 2010-02-10 12:17 STOCKS NEWS-Home loan demand drops despite drop in rates Stocks on the move (Wed, 10 Feb 2010 12:43:21 GMT)
U.S. MBA Mortgage Applications Index Decreased 1.2% Last Week Feb. 10 (Bloomberg) -- Mortgage applications in the U.S. fell last week, reflecting a drop in purchases. The Mortgage Bankers Association’s index fell 1.2 percent in the week ended Feb. 5. The group’s purchase gauge decreased 7 percent, while the refinancing gauge rose 1.4 percent. (Wed, 10 Feb 2010 13:10:11 GMT)
Home Loan Demand Drops Despite Dip in Rates The Mortgage Bankers Association reported home loan applications fell last week despite a drop in rates. (Wed, 10 Feb 2010 13:36:35 GMT)
Home loan demand drops despite drop in rates U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, an industry group said on Wednesday. (Wed, 10 Feb 2010 14:45:49 GMT)
Home loan demand drops despite drop in rates NEW YORK (Reuters) - U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, an industry group said on Wednesday. Featured Advertiser Comcast Business Class Look at your bill and find out how much your business can save with Comcast Business Class. Internet, Phone & TV for $99. Learn More ... (Wed, 10 Feb 2010 14:45:49 GMT)
Home Loan Demand Drops Despite Dip in Rates U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, data from an industry group showed o... (Wed, 10 Feb 2010 15:10:54 GMT)
Recently Discovered Flaw in Recording System Clouds Titles on Previously Foreclosed Properties The modern system of mortgage refinancing and assignments created during the housing boom has left behind a wave of title defects on properties that have ever had a foreclosure in their history, due to a loophole in the property records recording system. This has been detected on a number of properties currently in foreclosure, and found to have been uncorrected on properties previously ... (Wed, 10 Feb 2010 15:15:45 GMT)
U.S. home loan demand drops despite drop in rates U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December (Wed, 10 Feb 2010 15:15:56 GMT)
Mortgage rates to rise as Mervyn King rules out liquidity scheme extension The Bank of England Governor Mervyn King has said that the mortgage special liquidity scheme will not be extended. (Wed, 10 Feb 2010 15:26:57 GMT)
FTC hopes to fight mortgage fraud To combat fraud, the U.S. Federal Trade Commission seeks to ban foreclosure rescue and mortgage-modification-services companies from charging upfront fees.Under a proposed FTC rule, the companies could get paid only after providing the services. Companies also would have to tell consumers the total amount they will have to pay and that there is no guarantee the lender will agree to change the ... (Wed, 10 Feb 2010 16:16:16 GMT)
U.S. home loan demand drops despite drop in rates NEW YORK -- U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, an industry group said We... (Wed, 10 Feb 2010 17:24:53 GMT)
Mortgage activity down slightly WASHINGTON, Feb. 10 (UPI) -- The volume of applications for U.S. mortgages dropped slightly in a week ending Feb. 5 on a seasonally adjusted basis, an industry group said Wednesday. (Wed, 10 Feb 2010 17:50:11 GMT)
CBI unearths Rs 2 crore home loan 'scam' in Bhopal Bhopal, Feb 10 (PTI) CBI today claimed to have unearthed a home loan scam worth Rs two crore involving two bank officials and equal number of builders here. (Wed, 10 Feb 2010 18:36:53 GMT)
Prieskorn, Laho plead not guilty in mortgage fraud case Michael Prieskorn pleaded not guilty this morning to charges stemming from an alleged massive mortgage fraud scheme that authorities say brought him more than $5 million during the height of the housing boom. (Wed, 10 Feb 2010 19:01:17 GMT)
Mortgage rates remain steady Dave Dieter/Huntsville TimesMortgage applications slipped 1.2 percent last week compared to the previous week, the Mortgage Bankers Association reported. (Wed, 10 Feb 2010 19:35:26 GMT)
Bernanke eases fears that Fed will drive up mortgage rates Federal Reserve Chairman Ben Bernanke said Wednesday that he doesn't expect the central bank will sell its huge trove of mortgage securities in the short term, easing concerns that such a move would raise borrowing costs for home buyers. (Wed, 10 Feb 2010 19:45:37 GMT)
Newington council to hold hearing on refinancing bond issues By SUSAN CORICA Correspondent (Wed, 10 Feb 2010 19:53:40 GMT)
Current Mortgage Rates and Why You Should Pay Attention to Mortgage Rates at Par - FreeRateUpdate.com LOS ANGELES, CA--(Marketwire - February 10, 2010) - A par rate is what a savvy and qualified consumer will receive on any given day with a standard 1 point in origination. Par rates are typically 1/4 percent below national averages reported by Bankrate.com and Freddie Mac. Less savvy borrowers often receive rates 1/4 percent higher than what they are well qualified for because they are not aware ... (Wed, 10 Feb 2010 20:09:22 GMT)
Rashmi Airan-Pace, Noted Real Estate Attorney, Says Homeowners Should be Cautious about Mortgage Audits MIAMI----Rashmi Airan-Pace, a partner with the law firm of Airan2, Airan-Pace & Crosa, P.A, is cautioning homeowners to be wary of using a mortgage audit as a foreclosure avoidance tool. (Wed, 10 Feb 2010 20:28:00 GMT)
Lawmakers: Resolve probes of mortgage firms promptly Legislators appear to be growing impatient with the pace of federal and state investigations into Financial Resources Mortgage Inc. and CL&M Inc., the failed Meredith firms that allegedly bilked investors in an $82 million Ponzi scheme. (Wed, 10 Feb 2010 21:23:42 GMT)
Fannie Mae Mortgage Buyout Plans Depress High-Coupon Bonds High-coupon mortgage bonds guaranteed by Fannie Mae and Freddie Mac fell after the government-supported home-financing companies said they would step up purchases of delinquent loans from their securities to cut expenses. (Wed, 10 Feb 2010 22:31:09 GMT)
Fannie Mae Mortgage Buyout Plans Depress High-Coupon Bonds Investors who buy bonds for more than face value risk losses from the repurchases because they get fewer interest payments than they may have estimated. Fannie Mae and Freddie Mac would pay missed interest to bondholders if they didn’t repurchase the loans. (Thu, 11 Feb 2010 00:17:40 GMT)
Hungary’s Mortgage Plan May Fail to Limit Foreign Debt Burden Feb. 11 (Bloomberg) -- The Hungarian central bank’s plan to encourage local currency lending and reduce one of the region’s main financial risks may fail because it lacks incentives for banks, economists at Aegon, Nomura and RBC Capital said. (Thu, 11 Feb 2010 00:54:33 GMT)
Worth Noting in business: Kern Schools to open home loan and investment center and more Kern Schools Federal Credit Union plans to open a Home Loan and Investment Center Feb. 22 at the Town and Country shopping center at Stockdale Highway and Coffee Road. The site will house mortgage loan consultants and investment advisors with Kern Schools. (Thu, 11 Feb 2010 01:53:21 GMT)
Banks ‘helping 30,000 mortgage holders’ BANKS are working with thousands of home owners struggling to keep up with their mortgage repayments. (Thu, 11 Feb 2010 02:29:28 GMT)
Sun Hung Kai Said to Boost 5-Year Loan to Up to HK$15 Billion Feb. 11 (Bloomberg) -- Sun Hung Kai Properties Ltd ., the world’s biggest developer by market value, is seeking to boost a loan to refinance debt to as much as HK$15 billion ($1.93 billion), according to two people familiar with the matter. (Thu, 11 Feb 2010 03:21:24 GMT)
Mortgage officials try exits softer than foreclosures Seeking alternatives to the nation's struggling foreclosure prevention efforts, federal and mortgage industry officials increasingly are looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction. (Thu, 11 Feb 2010 05:00:00 GMT)
Battling Home Loan Challenges Getting a loan isn’t what it used to be. A couple of local lenders told Fox 9, they’re only able to help about one in every five clients. Qualifying for new government programs to modify or refinance is another difficult situation. (Thu, 11 Feb 2010 06:15:42 GMT)
Think before walking away from mortgage I’m increasingly getting questions from homeowners who can afford their monthly mortgage payment, have no reason or plans to move, and yet they wonder if they should walk away from their home because the value has dropped. (Thu, 11 Feb 2010 08:16:01 GMT)
Mortgage rates unchanged Mortgage interest rates barely budged this week. When they will rise depends on the Fed. (Thu, 11 Feb 2010 11:00:00 GMT)
Mortgage Rate Trend Index Each week, Bankrate.com surveys experts to gauge which way interest rates are headed on mortgages. (Thu, 11 Feb 2010 11:00:00 GMT)
Mortgage rates unchanged Mortgage rates barely budged this week. The benchmark 30-year fixed-rate mortgage remained at 5.15 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.44 discount and origination points. (Thu, 11 Feb 2010 11:42:00 GMT)
Ratios dictate home mortgage fate Dear Dr. Don, I am 39 years old and about to buy my first home. I am looking at a house that costs $250,000 and am planning to go for an FHA loan when selecting a home mortgage. According to my loan officer, the monthly payment is going to be $2,100, not including utilities. (Thu, 11 Feb 2010 11:43:21 GMT)
MPs launch follow-up mortgage inquiry Following its report into mortgage arrears and access to mortgage finance, published in August 2009, the committee is seeking evidence on the number of homeowners in mortgage arrears, the number of homeowners who have had their properties repossessed, and forecasts for the trend in mortgage arrears and repossessions over the medium-term. (Thu, 11 Feb 2010 11:59:23 GMT)
Hungary’s Mortgage Plan May Fail to Curb Foreign Debt (Update2) Feb. 11 (Bloomberg) -- The Hungarian central bank’s plan to encourage local currency lending and reduce one of the region’s main financial risks may fail because it lacks incentives for banks, economists at Aegon, Nomura and RBC Capital said. (Thu, 11 Feb 2010 11:59:30 GMT)
U.K. 2009 Mortgage Repossessions Highest In 14 Years: CML (RTTNews) - Thursday, the Council of Mortgage Lenders said the number of houses repossessed by British lenders increased 15% in 2009 to the highest level since 1995. Total number of possessions rose to 46,000 in 2009 from 40,000 in 2008. However, this was lower the CML's most recent forecast of 48,000 and significantly smaller than the 75,000 forecast at the start of the year. (Thu, 11 Feb 2010 12:09:59 GMT)
England & Wales Mortgage Repossession Orders Fall In Q4 (RTTNews) - Thursday, U.K.'s Ministry of Justice said courts in England and Wales issued 42% fewer repossession orders in the fourth quarter of 2009 compared to the previous year. There were 16,928 mortgage possession claims led to orders on a seasonally adjusted basis, down 15% on quarter. (Thu, 11 Feb 2010 12:10:20 GMT)
Bankrate: Mortgage Rates Mostly Lower Rates for most mortgage products retreated this week, but not the average conforming 30-year fixed mortgage, which remained at 5.15 percent, according to Bankrate.com's weekly national survey. (Thu, 11 Feb 2010 12:30:00 GMT)
Choosing between refinancing or loans to pay for home repairs Q. My home is in need of a new roof as well as some other home improvement projects. Should I refinance (my current loan is at 5.75 percent) and take out additional monies? Or is it better to take out... (Thu, 11 Feb 2010 13:13:08 GMT)
Canada May Toughen Mortgage Lending Rules, Globe and Mail Says Feb. 11 (Bloomberg) -- Canada may toughen lending rules to make banks use stricter guidelines for evaluating mortgage borrowers, aiming to keep consumers from taking on too much debt, the Globe and Mail reported. (Thu, 11 Feb 2010 14:34:25 GMT)
One Expert Tells Borrowers: Walk Away From Your Mortgage Mortgage defaults are up 15 percent since last year and an astonishing 1-in-409 homes received a foreclosure notice this January. That's 315,716 homes. And at least one in three homeowners owe more on their homes than their homes are worth. One expert says just walk away. Foreclosure - Business - Mortgage - United States - Financial services (Thu, 11 Feb 2010 14:53:28 GMT)
Wolters Kluwer Financial Services Helps Mortgage Lenders Embrace Enhanced H4H Program MINNEAPOLIS----In response to recent enhancements to the federal government’s HOPE for Homeowners program, Wolters Kluwer Financial Services has updated its comprehensive library of H4H mortgage documents and consumer education materials. (Thu, 11 Feb 2010 14:57:00 GMT)
Hungary’s Mortgage Plan Needs Support to Reach Goal (Update3) Feb. 11 (Bloomberg) -- The Hungarian central bank’s plan to encourage local currency lending and reduce one of the region’s main financial risks needs further supportive measures to reach its goals, economists at Aegon, Nomura and RBC Capital said. (Thu, 11 Feb 2010 14:59:27 GMT)
Mortgage rates dropped in week WASHINGTON, Feb. 11 (UPI) -- Average interest rates for 30-year fixed-rate mortgages fell below 5 percent in the week ending Feb 11, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 11 Feb 2010 15:35:06 GMT)
Freddie Mac: 30-year Mortgage Rate Falls Under 5% Freddie Mac: 30-year Mortgage Rate Falls Under 5% (Thu, 11 Feb 2010 15:37:05 GMT)
Mortgage Rates on 30-Year U.S. Loans Fall to 4.97% (Update2) Feb. 11 (Bloomberg) -- Mortgage rates in the U.S. fell for the fifth time in six weeks, making home purchases and refinancing more affordable. (Thu, 11 Feb 2010 16:00:58 GMT)
WATCH: Should You Dump Your Mortgage? One expert encourages some home owners to walk away from their mortgage. Mortgage - Business - United States - Financial services - Connecticut (Thu, 11 Feb 2010 16:34:42 GMT)
Is It Wrong To Walk Away From A Mortgage Deep Underwater? Mortgage defaults are up 15 percent since last year and an astonishing 1-in-409 homes received a foreclosure notice this January. That's 315,716 homes. And at least one in three homeowners owe more on their homes than their homes are worth. One expert says just walk away. Mortgage - Foreclosure - Business - United States - Financial Services (Thu, 11 Feb 2010 16:54:28 GMT)
Reverse mortgages can offer home loan option Reverse mortgages may be used for more than income in old age.To be sure, a reverse mortgage can be a way to live off the equity in a house while still being able to live in it for the rest of a person’s life, but it can also be a way to finance buying a new home, said David Harder, a senior adviser at 1st Reverse Mortgage USA, during this week’s meeting of the Morgan County Board of Realtors. (Thu, 11 Feb 2010 17:12:29 GMT)
30-year Mortgage Rate Falls Under 5% SAN FRANCISCO -- Freddie Mac said Thursday the 30-year fixed-rate mortgage average fell from the previous week to 4.97% with an average 0.7 point for the week ending Feb. 11. In the previous period, ... (Thu, 11 Feb 2010 17:12:54 GMT)
Old Trafford used as collateral in recent bond issue Manchester United included its stadium, Old Trafford, as security in a recent bond issue that raised £504 million to refinance the club’s debt.
