Mortgage News Mar 2010

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1 Day Left To Cash In On NACA Mortgage Event
There's just one day left to cash in on a once-in-a-lifetime chance to lower mortgage rates. (Mon, 01 Mar 2010 00:53:49 GMT)

Lloyds sees mortgage share fall
Owner of Halifax admits rise in homeowners struggling to repay loans but bank has fewer borrowers in negative equity Lloyds Banking Group, which owns the country's biggest home loan lender, Halifax, suffered a fall in its share of the mortgage market last year. As it admitted that almost 80,000 of its mortgage customers were more than three months behind with their payments, the group said its ... (Mon, 01 Mar 2010 01:17:05 GMT)

Chatzky: It's time to lock in mortgage rates, avoid longer-term CDs
If you have a variable-rate credit card, an adjustable-rate mortgage that's reset or a savings account, you've probably noticed that your interest rates have gone down - in some cases, by quite a bit. (Mon, 01 Mar 2010 02:30:00 GMT)

New home owners forced to 'pay for previous occupant's green loan'
Future home owners would be forced to pay for solar panels fitted to their homes by previous occupants, Ed Miliband is expected to announce. (Mon, 01 Mar 2010 07:43:28 GMT)

Mortgage approvals down, lending up 
Mortgage approvals fell slightly more than expected in January but consumer and mortgage lending picked up more than forecast, Bank of England figures showed on Monday. (Mon, 01 Mar 2010 09:37:00 GMT)

Mortgage rates rise to 5.05%
Rates for 30-year home loans rose above the 5 percent threshold for the first time in three weeks, but remained near historically low levels. The average rate on a 30-year fixed rate mortgage was 5.05 percent last week, up from 4.93 percent a week earlier, mortgage finance company Freddie Mac said Thursday. (Mon, 01 Mar 2010 09:40:38 GMT)

Mortgage approvals drop sharply
Figures revealing a sharp drop in mortgage approvals in January confirm the UK housing market made a slow start to the year. (Mon, 01 Mar 2010 09:49:28 GMT)

How Washington stuck us with the wrong incentives
Terry Savage: Personal responsibility is at the heart of a democracy. We know thatself-interest ensures survival. If a society creates perverseincentives, individuals are certain to be motivated to act in their ownbest interest. So we must fix the financial incentives to make surethat self-interest and social responsibility once again coincide. If you're one of millions who has a mortgage and ... (Mon, 01 Mar 2010 10:01:57 GMT)

Mortgage approvals worse than expected 
Consumer and mortgage lending rose faster than expected in January, though mortgage approvals dipped due to tax changes and poor weather, Bank of England figures showed on Monday. (Mon, 01 Mar 2010 10:28:00 GMT)

U.K. Mortgage Approvals Dropped to Eight-Month Low in January
March 1 (Bloomberg) -- U.K. mortgage approvals dropped in January by more than economists forecast to an eight-month low, adding to evidence that the housing-market recovery may be losing momentum. (Mon, 01 Mar 2010 11:19:17 GMT)

Mortgage approvals drop sharply
Figures revealing a sharp drop in mortgage approvals in January have confirmed that the UK housing market made a slow start to the year.The Bank of England said that the number of home loans approved ... (Mon, 01 Mar 2010 11:35:17 GMT)

Monitoring mediators: There’s very little oversight for influx of mortgage modification companies
John O’Boyle/The Star-LedgerWhen the monthly mortgage payment rose on his Hasbrouck Heights homes, Juan Paulino turned to a mortgage modification company. When Juan Paulino bought his three-bedroom ranch in Hasbrouck Heights in 2005, he took out the only loan... (Mon, 01 Mar 2010 12:13:08 GMT)

Mortgage task force to probe foreclosures, fraud
The popular notion that Buffalo weathered the mortgage meltdown better than most cities is attracting the attention of federal prosecutors who don't buy it. (Mon, 01 Mar 2010 12:33:21 GMT)

Homeowners Say Banks Keep Them Underwater by Spurning Loan Program Rules
A slew of struggling homeowners are coming forward with complaints about the way banks are operating under a federal loan modification program announced last year by the Obama administration. (Mon, 01 Mar 2010 12:41:12 GMT)

Drop in U.K. Mortgage Approvals Raises Outlook For More QE
U.K. mortgage approvals for January fell to an eight month low of 48,198 following 58,2223 in December. Economist were looking for a decline to 50,000 as credit standards remain tight, despite the quantitative easing efforts from the BoE. (Mon, 01 Mar 2010 12:55:00 GMT)

Bid to Curb Mortgage Tax Break Falters
The latest effort to scale back some tax deductions on mortgage interest, one of the nation's most-enduring tax breaks, is finding little support in Congress. (Mon, 01 Mar 2010 14:42:51 GMT)

TD Bank Wants to Pay Off Your Mortgage
CHERRY HILL, N.J. and PORTLAND, Maine , March 1 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, will pay off someone's mortgage up to $250,000 . (Logo: http://www.newscom.com/cgi-bin/p ) TD Bank understands what home ownership means to many Americans, and that dream is typically the most expensive to maintain. TD Bank wants to let ... (Mon, 01 Mar 2010 15:05:00 GMT)

Dodd, Shelby eye competing plans for mortgage regs
Senate Banking Committee Chairman Christopher Dodd has dropped plans for a separate, stand-alone agency to protect consumers against credit-card and mortgage fraud in a bid to restart stalled reform legislation. (Mon, 01 Mar 2010 16:15:40 GMT)

Arrests in mortgage fraud probe
Seven people from County Durham are arrested as part of an investigation into a multimillion-pound mortgage fraud. (Mon, 01 Mar 2010 17:18:52 GMT)

Motive for home sellers was unaffordable loan
Feb. 28--Two-thirds of California home sellers last year put their houses on the block because they couldn't make their mortgage payments, the California Association of Realtors said Thursday. (Mon, 01 Mar 2010 17:36:27 GMT)

TransUnion: Mortgage delinquencies hit new record
TransUnion said Monday that customers at least 60 days past due on their mortgage payments rose to a new record in the fourth quarter. (Mon, 01 Mar 2010 17:51:03 GMT)

TransUnion: Auto loan delinquencies decline in 4Q
TransUnion said Monday that customers at least 60 days past due on repaying auto loans fell 6 percent during the fourth quarter compared with the same period a year earlier. The 60-day delinquency rate on auto loans dropped to 0.81 percent. The delinquency... Mortgage - TransUnion - Loan - Business - United States (Mon, 01 Mar 2010 18:30:10 GMT)

Statement by Michael J. Williams President and Chief Executive Officer on the Extension of the Home Affordable ...
Thousands of families have already received much-needed relief under the Home Affordable Refinance Program, and extending HARP for another year will enable us to help even more families achieve a more affordable mortgage. Â Fannie Mae's Refi Plus program has given borrowers new options for refinancing, and more than 329,000 loans have been delivered to Fannie Mae through the Refi Plus ... (Mon, 01 Mar 2010 19:04:00 GMT)

Mortgage company PHH returns to yearly profit
Mortgage company PHH Corp. on Monday reported that it returned to a profit in the fourth-quarter as the company cut costs and the volume of its loans grew. (Mon, 01 Mar 2010 19:08:21 GMT)

Government extends refinance program a year
The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value. (Mon, 01 Mar 2010 19:36:15 GMT)

B of A home loan office opens in Albany
Bank of America Home Loans has opened a new branch in Albany.The company will host an Open House on Thursday (Mon, 01 Mar 2010 20:04:50 GMT)

U.S. extends mortgage refinance program
The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value. (Mon, 01 Mar 2010 20:35:00 GMT)

Judge orders $10,000 fines in mortgage scheme complaint
A Weld District Court judge has ruled in favor of eight Latino residents in their civil rights complaints against a former Greeley real estate agency its mortgage company for targeting Latino homebuyers with deceptive practices. The families last year filed civil rights complaints JS Real Estate and co-owners Mark Strodtman and Dean Juhl, their assistant, Flora Carmona, and mortgage brokers ... (Mon, 01 Mar 2010 20:46:04 GMT)

‘Second mortgage’ scam reported in Bonita
Detectives are investigating a mortgage fraud scheme in Bonita Springs. (Mon, 01 Mar 2010 20:47:12 GMT)

Chicago nursing home wants nonprofit to take over
The owners of a troubled Chicago nursing home say they want to sell or lease the building to a nonprofit that could run it as a mental illness treatment center — a move quickly criticized by advocates of supportive housing. (Mon, 01 Mar 2010 22:51:28 GMT)

Hundreds cram into Palm Beach County convention center on final day of loan modification marathon
Hundreds cram into Palm Beach County convention center on final day of loan modification marathon (Tue, 02 Mar 2010 00:24:02 GMT)

Mortgage data, politics hit pound
LONDON, March 2 – Lenders approved fewer mortgages in January, data showed on Monday, exacerbating a slide in sterling despite otherwise upbeat figures on consumer credit, mortgage lending and manufacturing activity. Political uncertainty was already weighing on the pound, with a national election due by June and markets worrying about whether the next government will be able to tackle the ... (Tue, 02 Mar 2010 00:30:35 GMT)

White House extends refinancing program for troubled homeowners
The Obama administration announced Monday that borrowers with little or no equity in their homes will have another year to take advantage of a refinancing program that so far has made little progress. (Tue, 02 Mar 2010 03:52:07 GMT)

Mortgage aid program extended to June 2011
WASHINGTON - The Obama administration announced Monday that borrowers with little or no equity in their homes will have another year to take advantage of a refinancing program that so far has made lit... (Tue, 02 Mar 2010 04:08:34 GMT)

Homeowners expecting mortgage rate rise
Homeowners can expect to pay just under $50 more a month on an average-sized mortgage after the Reserve Bank raised its cash rate for the first time this year. (Tue, 02 Mar 2010 04:21:56 GMT)

Abu Dhabi steps in to cut cost of home loans
01 March 2010 ABU DHABI // The Government has stepped in to reduce the cost of home loans in the capital. Buyers can now obtain mortgages at 5.75 per cent interest, compared with current rates of more than 8 per cent, a saving of Dh2,450 (US$667) a month on a typical Dh2 million loan. (Tue, 02 Mar 2010 05:05:23 GMT)

Credit check
Because you have to pay interest on a loan over years and decades, that means you will end up paying a lot more money for your house or condo than what you paid the seller. You have to take advantage of every break to reduce your mortgage balance and the amount of time it will take to pay off your home. And that means it's a good idea to take a good hard look at that loan at least once a year. (Tue, 02 Mar 2010 05:13:03 GMT)

China banks told to take hard look at mortgage risk
BEIJING, March 2 (Reuters) - China's banking watchdog has sent a fresh reminder to banks to be stricter in their assessment of mortgage loans, the latest in a series of moves to slow lending and head off a property market bubble. (Tue, 02 Mar 2010 07:15:50 GMT)

Bill gets bigger in mortgage fraud case
A Weld District Court judge has ruled in favor of eight Greeley-area Latino residents in their civil rights complaints against owners of a former Greeley real estate agency and its mortgage company for targeting Latino homebuyers with deceptive practices. The families last year filed civil rights complaints against JS Real Estate and co-owners Mark Strodtman and Dean Juhl, their assistant, Flora ... (Tue, 02 Mar 2010 08:10:33 GMT)

Arrests in mortgage fraud inquiry
DETECTIVES investigating what is alleged to be the UK’s biggest mortgage fraud have made a further seven arrests in the region. (Tue, 02 Mar 2010 08:13:36 GMT)

TOM WALSH: To survivors like Quicken go the spoils
With home prices still sagging and foreclosures still rampant in many parts of the country, how is it that Dan Gilbert, founder and chairman of Livonia-based Quicken Loans, can say, "We had a record year, by far, in every category in 2009 -- revenue, mortgage volume, profitability, everything"? (Tue, 02 Mar 2010 08:25:15 GMT)

Bill imposes restrictions on mortgage loan practices
PHOENIX -- State senators agreed Monday to try to protect Arizonans against the kind of mortgage practices that got so many into trouble in the first place.SB 1288 imposes new restrictions on what are called "high-cost home loans.'' These are... (Tue, 02 Mar 2010 10:52:22 GMT)

Fixing 3 common FHA loan snags
Borrowers face potential roadblocks to securing an FHA loan. Here's how to move past them. (Tue, 02 Mar 2010 11:00:00 GMT)

Home sweet homeowner tax breaks
Owning a home offers lots of benefits, including ways to reduce your tax bill. (Tue, 02 Mar 2010 11:00:00 GMT)

First Direct in good health as mortgage share increases
BANKING giant HSBC saw its share of the UK mortgage market nearly double during 2009, helped by a strong performance at Leeds-based First Direct. (02/03/2010 11:51:08) (Tue, 02 Mar 2010 12:04:08 GMT)

Government launches green home loan revolution
James Murray, BusinessGreen , Tuesday 2 March 2010 at 12:39:00 Pay As You Save scheme, new energy efficiency standards and legal obligations for power companies intended to slash domestic emissions The government today set out its vision for reducing carbon emissions from Britain's homes, unveiling wide-ranging plans designed to accelerate the roll out of energy efficiency measures, improve ... (Tue, 02 Mar 2010 12:50:51 GMT)

Home loans up by $50
HOME buyers will have to find another $50 a month, on average, after the RBA increased rates for the fourth time since October. (Tue, 02 Mar 2010 13:00:00 GMT)

Fannie, Freddie Mortgage Refinance Program Extended
An Obama administration program aimed at helping homeowners whose homes have declined in value get new loans (called HARP) has been extended another year, a key housing regulator said Monday. (Tue, 02 Mar 2010 14:44:22 GMT)

Chicago nursing home wants nonprofit to take over
The owners of a troubled Chicago nursing home say they want to sell or lease the building to a nonprofit that could run it as a mental illness treatment center — a move quickly criticized by advocates of supportive housing. (Tue, 02 Mar 2010 16:00:59 GMT)

Rs 25 cr to curb home loan frauds
Agencies Mumbai, Mar 2: Fraudsters would soon find it difficult to raise multiple loans against the same property with the budget setting aside Rs 25 crore for a Central Electronic Registry. (Tue, 02 Mar 2010 16:37:41 GMT)

FSA fines and bans Bromley mortgage broker for submitting fraudulent mortgage applications
The Financial Services Authority (FSA) has fined Bromley mortgage broker, Dele MacAulay, £115,157 for knowingly submitting nine fraudulent mortgage applications for himself, his wife, and his brother. (Tue, 02 Mar 2010 17:06:06 GMT)

Lawmakers eye home loan restrictions
State senators agreed Monday to try to protect Arizonans against the kind of mortgage practices that got so many into trouble in the first place. (Tue, 02 Mar 2010 17:47:12 GMT)

Faced with an underwater mortgage: the moral choice to pay
An underwater mortgage -- or owing more than a house is worth -- is still a debt obligation. If too many people walk away and default, even if they can make payments, America will face a moral crisis. (Tue, 02 Mar 2010 17:56:16 GMT)

Canada Mortgage and Housing Corporation: British Columbia Housing Starts to Increase
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2010) - Housing starts will increase in 2010 and 2011, according to the Canada Mortgage and Housing Corporation's (CMHC's) Housing Market Outlook Report published today. Total housing starts 1 in British Columbia will be in the range of 20,200 to 24,500 homes this year, up from 16,077 starts in 2009. (Tue, 02 Mar 2010 18:07:00 GMT)

Mortgage banker joins Seacoast bank in Palm Beach County
PALM BEACH COUNTY —Ruth Derewyanko has joined Seacoast National Bank as mortgage banking officer in Palm Beach County. Derewyanko has 37 years of experience, including as residential mortgage loan officer for national financial institutions. (Tue, 02 Mar 2010 18:30:00 GMT)

Mortgage Broker Sentenced To 2 Years For Fraud
A 41-year-old Brooklyn Center mortgage broker was sentenced to two years in prison Tuesday for one count of money laundering and one count of wire fraud. (Tue, 02 Mar 2010 19:34:32 GMT)

Former Mortgage Broker Pleads Guilty to Pyramid Scheme Thefts
ELLSWORTH — A man accused of bilking investors in his mortgage business pleaded guilty to two counts of theft by deception Tuesday in Hancock County Superior Court. (Tue, 02 Mar 2010 19:36:04 GMT)

ReadyPrice Rolls Out Mortgage Decision Engine
ReadyPrice ( www.readyprice.com ), a business-to-business technology-driven solutions provider for the residential mortgage industry, announced that it is rolling out its innovative marketplace and decision engine to members of the California Association of Mortgage Professionals (CAMP, www.cambweb.org ) state-wide. (Tue, 02 Mar 2010 19:51:57 GMT)

Rockford family able to stay in their home after getting their Mortgage Modified
Jose Torres shares his experience on what it takes to get your mortgage modified. (Tue, 02 Mar 2010 19:58:47 GMT)

2 years in prison for mortgage broker who scammed clients of $800k
A 41-year-old Brooklyn Center mortgage broker was sentenced to two years in prison Tuesday for defrauding clients out of more than $800,000. Terry L. Lemke, owner of All Metro Title, was sentenced in federal court in St. Paul after pleading guilty in August to wire fraud and money laundering. (Tue, 02 Mar 2010 20:15:57 GMT)

Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.80%, According to Zillow Mortgage Rate Ticker
The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80 percent, down four basis points from 4.84 percent compared to this same time last week. The 30-year fixed mortgage rate peaked at 4.87 percent late last week before hovering below 4.80 percent over the weekend. (Tue, 02 Mar 2010 20:21:00 GMT)

FHFA Extends Refinance Program
RISMEDIA, March 3, 2010—Federal Housing Finance Agency (FHFA) Acting Director Ed DeMarco announced the extension of the Home Affordable Refinance Program (HARP), a refinancing program administered by Fannie Mae and Freddie Mac, to June 30, 2011. The program is a… (Tue, 02 Mar 2010 21:04:04 GMT)

Jacksonville mortgage delinquencies around 10 percent
Mortgage delinquencies of 60 days or more were 2.2 percent at the end of 2006 — a figure that grew to 10.3 percent by the close of 2009, according to TransUnion LLC, a company that maintains credit histories on about 500 million people internationally. (Tue, 02 Mar 2010 21:15:13 GMT)

ReadyPrice Rolls Out Mortgage Decision Engine
ReadyPrice ( www.readyprice.com ), a business-to-business technology-driven solutions provider for the residential mortgage industry, announced that it is rolling out its innovative marketplace and decision engine to members of the California Association of Mortgage Professionals (CAMP, www.cambweb.org ) state-wide. (Tue, 02 Mar 2010 21:40:07 GMT)

Help is available for some under water homeowners who want to refinance
Help is available for some under water homeowners who want to refinance (Tue, 02 Mar 2010 22:39:02 GMT)

Federal Home Loan Bank of Seattle Names William V. Humphreys of Corvallis, Oregon, as Chairman of the Board of Directors
SEATTLE----The Federal Home Loan Bank of Seattle today announced the election of William V. Humphreys as chairman of the Seattle Bank’s Board of Directors and the re-election of Craig E. (Tue, 02 Mar 2010 22:50:00 GMT)

Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.80%, According to Zillow Mortgage Rate Ticker
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey. (Tue, 02 Mar 2010 23:19:12 GMT)

Miami Real Estate Buyer Tips: All About Fixed-Rate Mortgage
When it comes to non-conventional loans, the two most common choices you can make are ARM or Adjustable-Rate Mortgage and the Fixed-Rate Mortgage. (Wed, 03 Mar 2010 00:07:26 GMT)

1,000 homeowners refused mortgage interest aid each month
STRUGGLING homeowners facing huge debt are being refused mortgage interest aid at a rate of 1,000 a month, according to the country’s leading housing agency. (Wed, 03 Mar 2010 01:12:05 GMT)

Mortgage rates on 30-year loans rise to 5.05 percent
U.S. mortgage rates climbed for the first time in three weeks, increasing borrowing costs as new home sales slumped to the lowest level on record. (Wed, 03 Mar 2010 02:25:50 GMT)

Convicted loan shark robbed in North Stamford home invasion
Identification Bureau officer Kevin McKay, right, photographs tire treads in the driveway of 20 Brushwood Road in north Stamford where Stamford Police were investigating a report of a home invasion. (Wed, 03 Mar 2010 02:36:24 GMT)

Brooklyn Center mortgage broker gets two years in prison for fraud
A 41-year-old Brooklyn Center mortgage broker was sentenced on Tuesday to two years in prison for defrauding clients of more than $800,000. Terry L. Lemke, owner of All Metro Title, was sentenced in federal court in St. Paul after pleading guilty in August to wire fraud and money laundering. (Wed, 03 Mar 2010 03:44:07 GMT)

Dubai Fund Defaults on $300 Million NYC Mortgage, WSJ Reports
March 2 (Bloomberg) -- Istithmar World Capital, the Dubai-government investment fund’s private-equity unit, defaulted on the $300 million mortgage for the former Knickerbocker Hotel site in New York City and handed the property over to lender Danske Bank A/S, the Wall Street Journal reported. (Wed, 03 Mar 2010 05:05:54 GMT)

Sparks explains $500K loan
MONTGOMERY — State Agriculture Commissioner Ron Sparks sought to end questions Friday about a $500,000 personal loan he reported to his Democratic campaign for governor by explaining that it was a bank loan personally guaranteed by him. (Wed, 03 Mar 2010 05:06:26 GMT)

Proposal would let homeowners talk to one person only when trying to head off foreclosure
HARTFORD — Judiciary Committee leaders Monday expressed support for a bill that would require mortgage lenders to assign a single case manager to each borrower facing foreclosure. (Wed, 03 Mar 2010 06:36:02 GMT)

HKMA Set Minimum on Home Mortgage Rates, ICBC Says (Update1)
The Hong Kong Monetary Authority told lenders to price new home loans above its “reference rate,” as concerns grow that a price war may further erode their profit margins, a bank executive said. (Wed, 03 Mar 2010 07:09:07 GMT)

Jacksonville mortgage delinquencies rise above 10 percent
The number of Jacksonville homeowners who have fallen behind on mortgage payments rose steadily over the past three years and today stands at more than 10 percent, according to a national credit monitoring company. (Wed, 03 Mar 2010 07:42:12 GMT)

Special prosecutor for Leary rejected
An Allen Superior Court judge denied a request to appoint a special prosecutor in the case of Todd Leary, a former Indiana University basketball player and radio commentator charged with 17 felonies in connection with a mortgage funds scheme. (Wed, 03 Mar 2010 08:17:00 GMT)

Mortgage foreclosures balloon
SPRINGFIELD - The number of mortgage foreclosures completed in Springfield rose 76.74 percent to 76 in January compared to 43 in January 2009. (Wed, 03 Mar 2010 08:39:33 GMT)

Feds could make decision in days on crucial loan to bring Suniva to Thomas Township, Saginaw Future leader says
Saginaw County could find out soon if solar manufacturer Suniva will get a loan it says it needs to build in Thomas Township. The U.S. Department of Energy is expected to provide an answer within a month to the high-tech... (Wed, 03 Mar 2010 10:20:45 GMT)

Convicted loan shark robbed in North Stamford home invasion
Identification Bureau officer Kevin McKay, right, photographs tire treads in the driveway of 20 Brushwood Road in north Stamford where Stamford Police were investigating a report of a home invasion. (Wed, 03 Mar 2010 10:46:26 GMT)

Fair Home Loan Bureau Announces New Information About Home Loan Modification
AKRON, OH--(Marketwire - 03/03/10) - According to recent statistics, as many as eight million households may be in danger of foreclosure across the United States. This is a sure sign that mortgage industry woes have not ended their downturn. However, the Fair Home Loan Bureau (FHLB) has announced new information concerning loan modification for homeowners in danger of losing their homes ... (Wed, 03 Mar 2010 11:00:00 GMT)

Fair Home Loan Bureau Announces New Information About Home Loan Modification
Fair Home Loan Bureau Has Today Announced New Information for Homeowners Seeking a Means to Remain in Their Current Home Through Mortgage Loan Modification (Wed, 03 Mar 2010 11:12:32 GMT)

Mortgage Intelligence Holdings urge DA’s to beat the FSA fee deadline.
Sally Laker, Managing Director, Mortgage Intelligence Holdings comments: “We have seen a huge surge in the number of Appointed Representative enquiries from Directly Authorised advisers recently who are seriously considering this route as a means to controlling their costs and cementing their future business success. (Wed, 03 Mar 2010 12:06:00 GMT)

US mortgage applications grow, reversing 3 weeks of declines
FXstreet.com (Barcelona) - US mortgage applications grew by 14.6% in the week ending on February 26. This rise reverses three straight weeks of decline. (Wed, 03 Mar 2010 12:16:34 GMT)

Fixed-rate deals hit mortgage rates
Mortgage rates continued to fall with the launch of two new market-leading deals. The Co-operative Financial Services is offering a two-year fixed rate mortgage of 3.19%, taking it straight to the top of the best buy tables. (Wed, 03 Mar 2010 12:27:01 GMT)

U.S. MBA Mortgage Applications Index Increased 15% Last Week
March 3 (Bloomberg) -- Mortgage applications in the U.S. rose last week for the first time in a month as lower borrowing costs boosted purchases and refinancing. (Wed, 03 Mar 2010 12:37:28 GMT)

28,000 in mortgage arrears
More than 28,000 homeowners are three months behind with mortgage repayments, official figures have revealed. Related Stories Kray's criminal record unearthed Man quizzed over gangster murder 70 food jobs destined for Dundalk Parkinson accepts libel damages Woman grounded after scan refusal (Wed, 03 Mar 2010 13:04:34 GMT)

Sparks explains $500K loan
MONTGOMERY — State Agriculture Commissioner Ron Sparks sought to end questions Friday about a $500,000 personal loan he reported to his Democratic campaign for governor by explaining that it was a bank loan personally guaranteed by him. (Wed, 03 Mar 2010 13:07:32 GMT)

Refinance aid extended until June 2011 for owners upside-down in their homes
Refinance aid extended until June 2011 for owners upside-down in their homes (Wed, 03 Mar 2010 13:37:03 GMT)

Lawmaker ready to loan state funds to Heritage
South Carolina lawmakers are defending a proposal to loan the state's only PGA tournament $10 million as budget writers cut deeply into spending for basic programs like health care for the state's disabled residents. (Wed, 03 Mar 2010 13:57:43 GMT)

Convicted loan shark robbed in North Stamford home invasion
Identification Bureau officer Kevin McKay, right, photographs tire treads in the driveway of 20 Brushwood Road in north Stamford where Stamford Police were investigating a report of a home invasion. (Wed, 03 Mar 2010 14:49:24 GMT)

Lawmakers Ready To Loan Money To Heritage Tourney
Some South Carolina lawmakers are ready to loan state money to the Heritage golf tournament if it cannot find a new sponsor. (Wed, 03 Mar 2010 15:07:04 GMT)

New mortgage rules could fuel current market
Home sales in the Barrie area could be heating up following last month's announcement by the federal government that new mortgage rule changes are coming to discourage cash-light buyers and speculators.[...] (Wed, 03 Mar 2010 15:38:17 GMT)

Mortgage activity rises on lower rates
WASHINGTON, March 3 (UPI) -- The volume of applications for U.S. mortgages rose in the week as long-term interest rates dropped, an industry group said Wednesday. (Wed, 03 Mar 2010 15:53:29 GMT)

UPI NewsTrack Business
Markets rise on slower job losses ... ADP says job losses slowed in February ... Mortgage activity rises on lower rates ... Blockbuster launches rent-to-own policy ... News from United Press International. (Wed, 03 Mar 2010 16:29:17 GMT)

U.S. Mortgage Rate Drop Below 5% Stirs Demand
U.S mortgage rates retreated below 5 percent last week, propping up demand for home loans after purchase applications sank to a nearly 13-year low in the prior week, the Mortgage Bankers Association said Wednesday. (Wed, 03 Mar 2010 16:29:22 GMT)

Cape chief's son, four others, take mortgage fraud plea deal
Five people, including the son of Cape Coral Police Chief Rob Petrovich, are taking plea deals on mortgage fraud charges. (Wed, 03 Mar 2010 16:32:12 GMT)

Research and Markets: An Essential Report on Mortgage Banking in the US
DUBLIN----Research and Markets has announced the addition of the "Mortgage Banking" report to their offering. (Wed, 03 Mar 2010 17:00:00 GMT)

Son of Cape Coral Police Chief among 5 pleading to mortgage fraud
Five people, including the son of Cape Coral Police Chief Rob Petrovich, are taking plea deals on mortgage fraud charges.The five men made a plea agreement with federal prosecutors on six charges including conspiracy to commit fraud and money laundering. The five men have been identified as Troy Bossert, Tyler Forrey, Ryan O'Brien, Stephen Petrovich and Steven Reese.According to the plea ... (Wed, 03 Mar 2010 17:45:00 GMT)

Mortgage rates fall as new fixed-rate deals launched
Mortgage rates have continued to fall with the launch of two new market-leading deals. (Wed, 03 Mar 2010 17:47:28 GMT)

Home loan program extended to police, fire, ems workers
A program designed to provide low-interest loans to teachers who are first-time home buyers has been expanded to include law enforcement officers, firefighters and first-responder emergency medical staff. (Wed, 03 Mar 2010 18:03:38 GMT)

Cape Coral police chief's son, a police sergeant, three others to plead to $4.2M mortgage fraud scheme
FORT MYERS —The son of Cape Coral's police chief and a sergeant were charged today with conspiring to commit bank and wire fraud and money laundering in connection with a $4.2 million mortgage fraud scheme.Detective Steve Petrovich, 34, the son of Chief Rob Petrovich, and Sgt. James O’Brien, 35, who were placed on administrative duty in September pending the outcome of the federal investigation ... (Wed, 03 Mar 2010 20:46:00 GMT)

Cape Coral police chief's son, a police sergeant, three others to plead to $4.2M mortgage fraud scheme
Detective Steve Petrovich, son of Cape Coral Police Chief Rob Petrovich, a sergeant and others agree to accept plea deals in a federal mortgage fraud case (Wed, 03 Mar 2010 20:59:43 GMT)

Sparks explains $500K loan
MONTGOMERY — State Agriculture Commissioner Ron Sparks sought to end questions Friday about a $500,000 personal loan he reported to his Democratic campaign for governor by explaining that it was a bank loan personally guaranteed by him. (Wed, 03 Mar 2010 21:06:23 GMT)

State Home Loan Program Expanded
A state program created to provide home loans to teachers is now expanded to include firefighters, law enforcement officers and first-responders. (Wed, 03 Mar 2010 22:30:24 GMT)

Overcoming Loan Problems When Buying Rochester Homes
Home-buying has no definitive experience. Each homebuyer may breeze through the process perfectly while others may face challenges along the way. (Wed, 03 Mar 2010 22:31:22 GMT)

Colorado senator investigated for mortgage fraud
The Colorado Division of Real Estate is investigating allegations that a state senator and the mortgage company where he works engaged in false advertising. Division Director Erin Toll says state investigators believe Republican Sen. Ted Harvey and the company where he works as a mortgage broker, American Home Funding, misled customers with an advertising flyer that looks like a government tax ... (Wed, 03 Mar 2010 22:39:50 GMT)

Colo. Senator Investigated For Mortgage Fraud
A Colorado state senator and the mortgage company where he works are being investigated for allegedly misleading consumers by sending out advertising flyers that look like official tax documents, a state official said Wednesday. Investigators believe Republican Sen. Ted Harvey and American Home Funding — the Greenwood Village company where he works as a broker — violated state laws by sending ... (Wed, 03 Mar 2010 23:01:48 GMT)

Colo. senator investigated for mortgage fraud
DENVER—A Colorado state senator and the mortgage company where he works are being investigated for allegedly misleading consumers by sending out advertising flyers that look like official (Wed, 03 Mar 2010 23:29:06 GMT)

Colorado Senator Investigated For Mortgage Fraud
A Colorado state senator and the mortgage company where he works are being investigated for allegedly misleading consumers by sending out advertising flyers that look like official tax documents, a state official said Wednesday. (Thu, 04 Mar 2010 00:11:01 GMT)

Ted Harvey Investigated For Mortgage Fraud After Proposing Legislation To Curb Mortgage Regulations
What's Your Reaction? DENVER -A Colorado state senator and the mortgage company where he works are being investigated for allegedly misleading consumers by sending out advertising flyers that look like official tax documents, a state official said Wednesday. (Thu, 04 Mar 2010 01:15:13 GMT)

Nearly one in 25 mortgage holders 90 days in arrears
ALMOST one out of every 25 mortgage holders have fallen more than 90 days behind in monthly repayments, with many people facing serious risk of losing their family home. (Thu, 04 Mar 2010 02:18:38 GMT)

Thousands facing a mortgage timebomb
Thousands of homeowners in Northern Ireland are facing massive mortgage payment shortfalls, financial experts have warned. Some householders who took out endowment policies when they bought their properties could even be forced to sell up because of the stock market slump. Related Stories Payout for girl bitten by circus monkey Irishman jailed over child porn at Dutch airport Ulster Grand ... (Thu, 04 Mar 2010 02:49:04 GMT)

Intrawest denies reports of refinancing deal
An official with the parent company for Whistler Blackcomb (WB) this week denied numerous reports that a deal had been reached that would see Fortress Investment Group LLC retain control of Vancouver-based resort company Intrawest, saying talks with (Thu, 04 Mar 2010 04:08:44 GMT)

Five enter plea deals in mortgage fraud case
The Cape Coral police chief's son, along with four others, entered into plea deals Wednes-day over criminal charges tied to a mortgage fraud conspirac. (Thu, 04 Mar 2010 05:03:42 GMT)

Suit arises out of Thornburg Mortgage collapse
Get FREE Daily Headlines by email! Former executives with Thornburg Mortgage and the Santa Fe company's law firm are accused in a lawsuit of conspiring to use the bankrupt company's assets to start up a secret new business. (Thu, 04 Mar 2010 05:05:50 GMT)

Sparks explains $500K loan
MONTGOMERY — State Agriculture Commissioner Ron Sparks sought to end questions Friday about a $500,000 personal loan he reported to his Democratic campaign for governor by explaining that it was a bank loan personally guaranteed by him. (Thu, 04 Mar 2010 05:07:36 GMT)

Home loan rates begin climbdown
After maintaining high mortgage rates for more than a year, banks and finance companies in the UAE are finally reducing their home loan rates and relaxing their lending criteria. (Thu, 04 Mar 2010 06:20:53 GMT)

Witness: Mortgage name not the same
A former Clinton homeowner was called to testify Wednesday as prosecutors to try to prove a Ridgeland-based mortgage broker and two associates were behind a $9 million mortgage fraud scheme. (Thu, 04 Mar 2010 07:13:10 GMT)

The Fixer: Mortgage meltdown has many facets
Team Fixer has received lots of letters over the past several months from readers worried about foreclosure. Sometimes the cause is a job loss, or a serious medical issue, or the fact that credit card bills have piled up too high. Sometimes it's all three at once. (Thu, 04 Mar 2010 10:15:56 GMT)

Accused mortgage scammer Raghunath nailed after being on lam
An accused mortgage scammer, whose run from the law was featured in the Daily News this week, was captured in Brooklyn on Wednesday. (Thu, 04 Mar 2010 10:20:00 GMT)

Which type of mortgage is best?
Shopping for a mortgage? Ask questions about the type of loan, fees and interest rate. (Thu, 04 Mar 2010 11:00:00 GMT)

Mortgage rates drop back
Rates retreated a bit and refi applications surged as homeowners prepare for higher rates. (Thu, 04 Mar 2010 11:00:00 GMT)

Mortgage rates drop back
Mortgage rates didn't move much this week; they have remained confined within a narrow range for the last month and a half. The benchmark 30-year fixed-rate mortgage slipped 3 basis points this week, to 5.12 percent, according to the Bankrate.com national survey of large lenders. (Thu, 04 Mar 2010 11:42:00 GMT)

ICICI Bank stops special home loan scheme, hikes rates
The bank hiked its auto loan rates by up to 0.5 per cent. (Thu, 04 Mar 2010 11:56:22 GMT)

Colo. Senator Investigated for Mortgage Fraud
DENVER (AP) - The Colorado Division of Real Estate is investigating allegations that a state senator and the mortgage company where he works engaged in false advertising. (Thu, 04 Mar 2010 12:38:09 GMT)

Borrowers Aren't Beating A Path To Lenders' Doors
Despite low mortgage interest rates, many homeowners are not refinancing. Falling home prices mean current owners have little equity and are nervous about trying — and failing — to get a loan approved. The Obama administration has extended a program to make refinancing easier. (Thu, 04 Mar 2010 12:44:03 GMT)

ICICI, HDFC hike auto loan rates, end teasers
Mortgage major HDFC and ICICI Bank also discontinued with their special home loan schemes, which offer lower interest (teaser) rate for the first few years of the credit period. (Thu, 04 Mar 2010 12:46:09 GMT)

ICICI Bank hikes auto loan rates by upto 0.5%
MUMBAI: In a clear signal of a rising interest rate regime, ICICI Bank, on Thursday said it has hiked its auto loan rates by up to 0.5 per cent and withdrawn its 8.25 per cent special home-loan scheme. (Thu, 04 Mar 2010 13:04:41 GMT)

Council likely to back clinic mortgage
South Bruce Peninsula council seems ready to have the town guarantee a $1.1 million mortgage for the Sauble Beach Medical Clinic, a move that isn't coming fast enough for Carl Noble, the chairman of the not-for-profit clinic's board.[...] (Thu, 04 Mar 2010 13:07:58 GMT)

Bankrate: Mortgage Rates Dip Down
Mortgage rates moved lower this week, with the average conforming 30-year fixed mortgage dipping to 5.12 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.39 discount and origination points. (Thu, 04 Mar 2010 13:34:00 GMT)

Mortgage Rates Dip: Bankrate
Mortgage Rates Dip: Bankrate (Thu, 04 Mar 2010 14:25:48 GMT)

U.S. mortgage rates drop in week
WASHINGTON, March 4 (UPI) -- Average interest rates for 30-year, fixed-rate mortgages fell to less than 5 percent in the week ending March 4, the U.S. Federal Home Loan Mortgage Corp. said. (Thu, 04 Mar 2010 15:38:19 GMT)

Mortgage rates fall to 4.97%
March 4 -- U.S. mortgage rates declined, lowering borrowing costs as the housing markets recovery shows signs of slowing. (Thu, 04 Mar 2010 15:51:03 GMT)

Freddie Mac: Benchmark Mortgage Rate Dips Below 5%
Freddie Mac: Benchmark Mortgage Rate Dips Below 5% (Thu, 04 Mar 2010 15:55:10 GMT)

Mortgage Rates on 30-Year U.S. Loans Fall to 4.97% (Update2)
U.S. mortgage rates declined, lowering borrowing costs as the housing market’s recovery shows signs of slowing. (Thu, 04 Mar 2010 16:04:45 GMT)

Mortgage Rates on 30-Year U.S. Loans Fall to 4.97% (Update2)
March 4 (Bloomberg) -- U.S. mortgage rates declined, lowering borrowing costs as the housing market’s recovery shows signs of slowing. The rate for 30-year fixed U.S. home loans fell to 4.97 percent for the week ended today from 5.05 percent, mortgage finance company Freddie Mac said in a statement. (Thu, 04 Mar 2010 16:17:36 GMT)

Danish Mortgage Banks Boost March Bond Sales to Lure Buyers
March 4 (Bloomberg) -- Nykredit Realkredit A/S, the biggest Danish mortgage lender, will auction 53 billion kroner ($9.7 billion) of adjustable-rate bonds starting today, its most aggressive effort to wean investors off annual year-end sales. (Thu, 04 Mar 2010 16:52:38 GMT)

Stocks falter after drop in pending home sales
Stocks clung to a tight range Thursday after an unexpected drop in pending home sales raised new concern about the economy. (Thu, 04 Mar 2010 18:11:11 GMT)

Mortgage Repurchase Requests on Rise
Banks are facing a wave of requests to repurchase troubled mortgage loans in yet another ripple effect from the housing bust. (Thu, 04 Mar 2010 18:16:05 GMT)

Trustee sues ex-Thornburg Mortgage execs for theft
Four top executives of Thornburg Mortgage improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit. (Thu, 04 Mar 2010 19:51:58 GMT)

The Fed-backed mortgage market
The US Federal Reserves' initiatives are currently propping the US mortgage market (Thu, 04 Mar 2010 20:14:42 GMT)

Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.80%
RISMEDIA, March 5, 2010—The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80%, down four basis points from 4.84% compared to this same time last week. The 30-year fixed mortgage rate peaked at 4.87% late last week before… (Thu, 04 Mar 2010 20:19:03 GMT)

First Foundation Bank Announces Ultra Access Home Loans
IRVINE, CA--(Marketwire - 03/04/10) - First Foundation Bank announced today a preferred provider referral program with San Francisco-based Bay Equity LLC to offer home mortgages through its Ultra Access Home Loan Program. Ultra Access Home Loans are available to First Foundation bank clients to meet financing needs for conforming and jumbo conforming properties, with competitive fixed and ... (Thu, 04 Mar 2010 20:57:00 GMT)

AIG Settles U.S. Claims of Black Mortgage Fee Bias (Update1)
March 4 (Bloomberg) -- AIG Federal Savings Bank and Wilmington Finance Inc. settled claims by the U.S. Department of Justice that they broke the law by allowing wholesale mortgage brokers to charge higher direct broker fees to black borrowers. (Thu, 04 Mar 2010 21:05:18 GMT)

Is Mortgage Refinancing a Loser's Game?
With the average homeowner mortgage lasting well less than 10 years before it is refinanced or paid off, it's no wonder Americans are so lacking in home equity. (Thu, 04 Mar 2010 21:15:00 GMT)

1st-time home buyers in Glendale may qualify for down payment loan
First-time home buyers who are planning to purchase a home in Glendale may be eligible for a loan up to $10,000 through the American Dream Down payment Initiative program. Glendale’s Community Revitalization Division is sponsoring the program to... (Thu, 04 Mar 2010 21:22:42 GMT)

Commercial mortgage terms will likely loosen in second half of 2010
The good news from the commercial mortgage market is that there’s a market at all. In 2009, the business virtually disappeared as most lenders fell victim to the capital markets breakdown and to lending terror. (Thu, 04 Mar 2010 21:42:30 GMT)

Ottawa locks in the mortgage
With rates forecast to rise, government plans to refinance more debt than expected this year to lock in lower borrowing costs (Thu, 04 Mar 2010 22:28:42 GMT)

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