Mortgage News Mar 2010

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Bank Sued for Seizing Pa. Woman's Home and Parrot
Bank of America sued for mistakingly repossessing Pittsburgh-area woman's home _ and parrot Repossession - Business - Mortgage - Financial Services - Loan (Wed, 10 Mar 2010 01:46:51 GMT)

Australian Home-Loan Approvals Fall Most in Decade (Update2)
March 10 (Bloomberg) -- Australian home-loan approvals unexpectedly fell in January by the most in almost a decade after central bank Governor Glenn Stevens raised borrowing costs and the government cut assistance to first-time buyers. (Wed, 10 Mar 2010 01:58:38 GMT)

Owner of Legacy Lending pleads guilty in $20 million mortgage scam
On March 2, in federal court in St. Paul, the 30-year-old part owner of Legacy Lending pleaded guilty to participating in a mortgage fraud scheme that involved 37 separate real estate transactions and $20 million in loan proceeds. (Wed, 10 Mar 2010 02:08:31 GMT)

Lights out on home-energy loan bill
Application denied. Salt Lake County won't get the chance to lend thousands of dollars in low-interest loans to homeowners who want to replace drafty windows, upgrade a furnace or put solar panels on the roof. (Wed, 10 Mar 2010 02:44:46 GMT)

U.S. indicts Md. man in mortgage fraud
GREENBELT, Md., March 9 (UPI) -- Authorities Tuesday arrested a Maryland man in what the Department of Justice called a massive mortgage fraud scheme that left victims homeless. (Wed, 10 Mar 2010 02:49:09 GMT)

Call to reform Home Choice Loan scheme
THE Government must abandon or reform the €500 million Home Choice Loan scheme as it is unrealistic, according to brokers. (Wed, 10 Mar 2010 02:58:04 GMT)

Owners of strip club where Sean Bell was killed nabbed in $2M mortgage fraud scam
THE MOTHER-AND-SON owners of the strip club where Sean Bell was killed were nabbed yesterday in a $2 million mortgage fraud scam. (Wed, 10 Mar 2010 04:32:00 GMT)

Trying to Save a Home From Foreclosure Can be Scary and Costly; New Loan Modification Software Eases the Pain
A loan modification arrangement can be the best approaches for saving a home from foreclosure. By adopting an early hands-on strategy and working with the bank or mortgage company, homeowners can often have their monthly payment adjusted. Our new loan modification software enables the homeowner to create bank ready loan documents for a fraction of the cost. (Wed, 10 Mar 2010 07:00:00 GMT)

Trying to Save a Home From Foreclosure Can be Scary and Costly; New Loan Modification Software Eases the Pain
A loan modification arrangement can be the best approaches for saving a home from foreclosure. By adopting an early hands-on strategy and working with the bank or mortgage company, homeowners can often have their monthly payment adjusted. Our new loan modification software enables the homeowner to create bank ready loan documents for a fraction of the cost. (PRWeb Mar 10, 2010) Read the full ... (Wed, 10 Mar 2010 08:18:55 GMT)

Former Rock pitchman launches mortgage company of his own
Best known for years as the pitchman of Rock Financial before a falling-out with his boss, Dan Gilbert, David Hall has launched a mortgage company in Birmingham called Hall Financial. (Wed, 10 Mar 2010 08:29:36 GMT)

Home-Equity Loans: What You Need To Know
A home-equity loan , also known as a second mortgage, lets homeowners borrow money by leveraging the equity in their homes. (Wed, 10 Mar 2010 09:09:24 GMT)

McCue Mortgage still in the family after 60 years
New Britain-based McCue Mortgage Co., the largest independently-owned mortgage lender in the state, celebrates 60 years in business this year. (Wed, 10 Mar 2010 11:13:39 GMT)

US MBA mortgage applications post meager weekly gains
FXstreet.com (Barcelona) - US MBA mortgage applications rose by 0.5% in the week ending on March 5, down from 14.6% growth during the previous week. The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. (Wed, 10 Mar 2010 12:16:19 GMT)

U.S. MBA Mortgage Applications Index Rose 0.5% Last Week
March 10 (Bloomberg) -- Mortgage applications in the U.S. rose for a second week, led by an increase in purchases that may indicate the renewal of a homebuyer tax credit is starting to invigorate demand. (Wed, 10 Mar 2010 12:30:51 GMT)

Home loan demand nudge higher in latest week
U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday. (Wed, 10 Mar 2010 12:42:50 GMT)

Airport watch for former mortgage broker
AN airport alert has been issued after one of the nation's biggest former mortgage brokers, who is under investigation, left the country. (Wed, 10 Mar 2010 13:00:00 GMT)

Club Kalua owners charged with mortgage fraud
The mother and son owners of the defunct strip club made infamous by the shooting of Sean Bell have been charged in a mortgage fraud case in Queens. (Wed, 10 Mar 2010 13:16:51 GMT)

U.S. MBA Mortgage Applications Index Rose 0.5% Last Week
March 10 (Bloomberg) -- Mortgage applications in the U.S. rose for a second week, led by an increase in purchases that may indicate the renewal of a homebuyer tax credit is starting to invigorate demand. (Wed, 10 Mar 2010 13:25:09 GMT)

Home Loan Demand Nudges Higher in Latest Week
The Mortgage Bankers Association reported mortgage applications increased last week. (Wed, 10 Mar 2010 13:38:27 GMT)

The home loan process
The loan application process. (Wed, 10 Mar 2010 13:59:47 GMT)

Firm starts mortgage reward scheme
Property services group Countrywide has launched a new reward scheme for mortgage customers. The group believes it is the first company in the property industry to give people who take out a mortgage or insurance policy loyalty points that can then be exchanged for discounts and vouchers. (Wed, 10 Mar 2010 14:11:53 GMT)

Home Loan Demand Nudges Higher
Mortgage applications nationwide nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed Wednesday. (Wed, 10 Mar 2010 14:55:55 GMT)

Home loan demand nudges higher in latest week
U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday. (Wed, 10 Mar 2010 15:00:52 GMT)

Mortgage rates decline
The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.76 percent, down four basis points from 4.8 percent at this same time last week. The 30-year fixed mortgage rate fluctuated between 4.76 and 4.82 during the past week.The rate for Washington dropped 5 basis points, from 4.82 percent to 4.77 percent. ... (Wed, 10 Mar 2010 17:04:09 GMT)

U.S. mortgage activity up slightly
WASHINGTON, March 10 (UPI) -- The volume of applications for U.S. mortgages rose slightly in the week, although long-term interest rates also rose, an industry group said Wednesday. (Wed, 10 Mar 2010 17:04:19 GMT)

Failed mortgage firm trustee allowed $50,000 in fees
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc. (Wed, 10 Mar 2010 17:38:41 GMT)

Warning for mortgage holders who just refinanced
If you've recently refinanced a mortgage loan, the Indiana Department of Insurance wants you to make a follow-up call. (Wed, 10 Mar 2010 17:45:11 GMT)

Fitch Takes Various Actions on Mortgage Capital Funding 1998-MC1
NEW YORK----Fitch Ratings revises the Recovery Rating , affirms the ratings and assigns a Rating Outlook to Mortgage Capital Funding, Inc.'s commercial mortgage pass-through certificates, series 1998-MC1, as follows: (Wed, 10 Mar 2010 20:37:00 GMT)

Manhattanite gets 3-9 years in Little Neck mortgage scam
A 35-year-old Manhattan man has been sentenced to prison for having used a forged power of attorney to unlawfully obtain a mortgage on his mother-in-law’s Little Neck condominium and steal more than $300,000, the Queens district attorney said.Shih Siang Shawn Liao, of 300 W. 110th St. in... (Wed, 10 Mar 2010 22:03:30 GMT)

District to save $136,000 on refinancing of bond
The Tamaqua Area School District will save $136,649 through the refinancing of $3.1 million on a series of general obligation bonds. (Wed, 10 Mar 2010 22:17:39 GMT)

Mortgage Rates Decline; Current 30-Year Fixed Rate Is 4.76%
RISMEDIA, March 11, 2010—The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.76%, down four basis points from 4.80% compared to this same time last week. The 30-year fixed mortgage rate fluctuated between 4.76 and 4.82 during the… (Wed, 10 Mar 2010 22:19:03 GMT)

Jersey City officer accused of lying to bank to get mortgage, FBI says
Brian Ragauckas admitted to the FBI that he intentionally left his Secaucus property off the mortgage application because he thought he wouldn’t qualify for the loan if he listed it, according to the release. (Wed, 10 Mar 2010 23:53:57 GMT)

Borrower's dilemma: pay credit card bill or mortgage?
Borrower's dilemma: pay credit card bill or mortgage? (Thu, 11 Mar 2010 00:52:04 GMT)

Mortgage broker may face felony charge in alleged assault in Bothell
King County prosecutors are considering filing a felony charge against a real-estate mortgage broker who allegedly assaulted a woman in downtown Bothell last month. (Thu, 11 Mar 2010 02:43:15 GMT)

Mortgage pain on the increase
The number of households facing mortgage stress has risen to a 16-month high as rising interest rates hit home. (Thu, 11 Mar 2010 03:24:01 GMT)

Mortgage pain on the increase
The number of households facing mortgage stress has risen to a 16-month high with increases in interest costs outweighing improvements on the jobs front. (Thu, 11 Mar 2010 03:30:34 GMT)

Former Nevada Businessman Indicted for Mortgage Fraud
A federal grand jury on Wednesday indicted a former Nevada investment company owner for mortgage fraud. (Thu, 11 Mar 2010 04:29:43 GMT)

Medical school costs, loan rates rise sharply
NPR reports on the high cost of medical school, focusing on one student, Sarah Rosen. The interest rate on her school loans "shot up to eight and a half percent, almost twice the rate [her parents] are paying after refinancing their mortgage." (Thu, 11 Mar 2010 04:52:33 GMT)

Topping-up on your home loan? There's a catch
If you are a home loan customer, top-up loans are for you in case you have additional requirement of loan for extension, renovation, etc. But is there a catch? (Thu, 11 Mar 2010 07:41:59 GMT)

Mortgage troubles, even after losing in foreclosure
Local experts say foreclosures have displaced nearly 90,000 Minnesotans from their homes since 2005, and more people will likely go through foreclosure this year. Those who lose their homes might be surprised that some of their mortgage debt may linger even after the home is lost. (Thu, 11 Mar 2010 09:09:50 GMT)

Xceed Mortgage Reports Fiscal 2010 First-Quarter Financial Results
Xceed Mortgage Corporation , a Canadian provider of insured mortgages, today announced its financial results for the fiscal 2010 first quarter ended January 31, 2010. All references to quarters or years are for the fiscal periods and all currency amounts are in Canadian dollars unless otherwise noted. (Thu, 11 Mar 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 Mar 2010 11:00:00 GMT)

CashCall Mortgage Explains Why You Should 'Never Pay Closing Costs'... Traditional Lenders Upset That Industry Secret ...
ANAHEIM, Calif.----A recent radio ad by CashCall Mortgage seems to have struck a nerve with many competitors in the lending business. The commercial urges consumers ‘never to agree to pay closing costs,’ particularly for those refinancing at the same outstanding balance. (Thu, 11 Mar 2010 11:15:00 GMT)

Mortgage audit won't help loan modification
Most people facing foreclosure simply want to get reduced payments so that they can afford to keep their homes. Mortgage audits, supporters contend, can help by uncovering mistakes or legal violations in loan documents, giving homeowners a bargaining chip in negotiations with lenders. (Thu, 11 Mar 2010 11:42:20 GMT)

Donovan heading home to Los Angeles after loving life as an Everton loan star
On-loan forward Landon Donovan believes his short-term spell with Everton has been a success as he prepares for his final match with the club this weekend. (Thu, 11 Mar 2010 12:24:09 GMT)

(AFX UK Focus) 2010-03-11 11:58 UPDATE 1-Xceed Mortgage swings to Q1 net loss
March 11 (Reuters) - Insured mortgages provider Xceed Mortgage Corp swung to a first-quarter loss, hurt by negative fair-value adjustments related to its discontinued business line of uninsured mortgages. (Thu, 11 Mar 2010 12:28:29 GMT)

Research and Markets: Mortgage Lending in Poland 2010-2012
DUBLIN----Research and Markets has announced the addition of the "Mortgage Lending in Poland 2010-2012" report to their offering. (Thu, 11 Mar 2010 13:09:00 GMT)

Mortgage rates fall to 4.95%
Mortgage applications rose 0.5 percent. (Thu, 11 Mar 2010 15:34:06 GMT)

Mortgage Rates on 30-Year U.S. Loans Fall to 4.95% (Update2)
March 11 (Bloomberg) -- Mortgage rates in the U.S. declined for a second consecutive week as the number of home-loan applications rose. The rate for 30-year fixed mortgages fell to 4.95 percent for the week ended today from 4.97 percent, Freddie Mac said in a statement. (Thu, 11 Mar 2010 15:52:44 GMT)

Freddie Mac: 30-yr Fixed-rate Mortgage Rate Slips
Freddie Mac: 30-yr Fixed-rate Mortgage Rate Slips (Thu, 11 Mar 2010 15:54:28 GMT)

Mortgages: 30-year fixed-rate mortgage averages 4.95%
30-year fixed-rate mortgage averages 4.95%, Freddie Mac reports. (Thu, 11 Mar 2010 16:01:31 GMT)

Mortgage rates remain below 5 percent
Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire. The average rate on a 30-year fixed rate mortgage was 4.95... Mortgage - Fixed rate mortgage - Financial Services - Business - United States (Thu, 11 Mar 2010 16:15:33 GMT)

Long-term mortgage rates down slightly
WASHINGTON, March 11 (UPI) -- Average interest rates for 30-year, fixed-rate mortgages held under 5 percent in the week ending March 11, the U.S. Federal Home Loan Mortgage Corp. said. (Thu, 11 Mar 2010 16:20:24 GMT)

Mortgage rates remain below 5%, fall to 4.95%
Mortgage rates held below the 5% threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire. (Thu, 11 Mar 2010 16:33:20 GMT)

BofA ‘Comfortable’ Bank Can Absorb Home-Equity Losses (Update1)
March 11 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Brian Moynihan said the lender, the biggest in the U.S., can absorb losses on its $149 billion home-equity loan portfolio even after the four-year slump in housing prices . (Thu, 11 Mar 2010 16:38:54 GMT)

Mortgage Rates Remain Below 5 Percent
Rates on 30-year fixed mortgages fall to 4.95 percent, weeks before Fed exit Mortgage - United States - Business - Financial Services - Connecticut (Thu, 11 Mar 2010 16:46:41 GMT)

Federal Home Loan Bank of Atlanta's Affordable Housing Effort Is Creating Thousands of Jobs and Supporting Municipal ...
The Federal Home Loan Bank of Atlanta's affordable housing funds are a significant driver of job growth, housing production, and expanded tax bases, according to a research study recently completed by The Hendrickson Company and The Shimberg Center for Housing Studies at the University of Florida. (Thu, 11 Mar 2010 17:03:00 GMT)

Lloyds Banking to Allow Extra Mortgage Repayments Until 2011
Lloyds Banking Group Plc, Britain’s biggest home-loan lender, will allow customers to increase mortgage repayments without penalty, as the bank seeks to cut its 1.03 trillion-pound ($1.55 trillion) balance sheet. (Thu, 11 Mar 2010 18:52:44 GMT)

Mortgage pain on the increase
The number of households facing mortgage stress has risen to a 16-month high with increases in interest costs outweighing improvements on the jobs front. (Thu, 11 Mar 2010 20:35:39 GMT)

New mortgage form delivers mixed message
Designed by the U.S. Department of Housing and Urban Development to help borrowers better understand the terms of their mortgage loans, the new three-page form has been a required part of the mortgage application process since Jan. 1. (Thu, 11 Mar 2010 21:02:34 GMT)

McCue Mortgage still in the family after 60 years
New Britain-based McCue Mortgage Co., the largest independently-owned mortgage lender in the state, celebrates 60 years in business this year. (Thu, 11 Mar 2010 22:38:42 GMT)

Average 30-year mortgage rate drops to 4.95%, Freddie Mac says
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. (Fri, 12 Mar 2010 01:01:44 GMT)

Man accused of masterminding mortgage fraud is denied bail reduction.
James B. Duncan, accused of masterminding a $142 million mortgage and securities fraud based in Murrieta, Thursday was denied a reduction of his $5 million bail by a judge who said Duncan poses a threat to public safety. (Fri, 12 Mar 2010 03:28:40 GMT)

Count, Mortgage Choice break off talks
Secret talks between Count Financial and Mortgage Choice about combining their respective mortgage businesses have been called off. (Fri, 12 Mar 2010 04:06:05 GMT)

Mortgage lending slumps by half
Mortgage lending to people buying a home dived by 49% during January following the end of the Government's stamp duty holiday, figures have shown. Only 32,000 loans, worth £4.7 billion, were advanced during the month, around half the level seen during December, the Council of Mortgage Lenders said. (Fri, 12 Mar 2010 10:11:56 GMT)

Mortgage lending halves as tax break ends
Mortgage lending to people buying a home dived by 49 per cent during January following the end of the Government's stamp duty holiday, figures showed today. (Fri, 12 Mar 2010 10:17:30 GMT)

Refinance may limit financial flexibility
Reduced financial flexibility may be the price for a home refinance that lowers your mortgage rate. (Fri, 12 Mar 2010 11:00:00 GMT)

UK home loans fall by half in January
The value of home mortgage advances in January fell by half from December, when there was a late rush to complete deals before a tax break ended at the New Year, the Council of Mortgage Lenders said Friday. The value of home mortgages in January was 4.7... Mortgage - Loan - Business - Financial services - Council of Mortgage Lenders (Fri, 12 Mar 2010 11:00:13 GMT)

Mortgage lending plunges by almost 50% after end of stamp duty holiday
Only 32,000 loans, worth £4.7 billion, were advanced during the month, around half the level seen during December, the Council of Mortgage Lenders said. (Fri, 12 Mar 2010 11:33:57 GMT)

Mortgage age
An Aviva survey has found that 12.5 per cent of homeowners between 65 and 74 still have a mortgage. This is not surprising as there will be a substantial minority of homeowners aged over 65 who can still afford a mortgage or have chosen to take out a lifetime mortgage with interest rolled up. (Fri, 12 Mar 2010 11:59:32 GMT)

Bulgaria February Mortgage Credit Shoots Up 9%
Bulgaria's mortgage credit market rose by 9% in February, when compared to January, as the result of new credit products and positive media presentation of offers. (Fri, 12 Mar 2010 12:20:16 GMT)

BofA mortgage modifications jump in March
Bank of America Corp completed 20,666 mortgage modifications in March under a U.S. government-backed program, up 61 percent from February, the bank said on Friday. (Fri, 12 Mar 2010 16:52:02 GMT)

Bank Of America Sharply Boosts Mortgage Changes In Past Month
Bank Of America Sharply Boosts Mortgage Changes In Past Month (Fri, 12 Mar 2010 16:54:26 GMT)

McCue Mortgage still in the family after 60 years
New Britain-based McCue Mortgage Co., the largest independently-owned mortgage lender in the state, celebrates 60 years in business this year. (Fri, 12 Mar 2010 18:36:25 GMT)

Gov't mortgage plan aids 16 percent of borrowers
The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, while hundreds of thousands of homeowners remain in limbo. The Treasury Department says that as of last month, about... Mortgage - United States Department of the Treasury - Presidency of Barack Obama - Business - United States (Fri, 12 Mar 2010 19:30:30 GMT)

Gov't Mortgage Plan Aids 16 Percent of Borrowers
Obama mortgage plan provides assistance to nearly 16 percent of borrowers who signed up Mortgage - United States - Business - Financial Services - Loan (Fri, 12 Mar 2010 19:31:21 GMT)

Wells Fargo, Baltimore in talks after mortgage suit
Wells Fargo & Co said on Friday it is in talks with Baltimore officials that could avert further litigation by that city over the bank's mortgage lending practices. (Fri, 12 Mar 2010 19:31:44 GMT)

Mortgage relief aid reaches few homeowners
The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, and hundreds of thousands of homeowners are in limbo without an answer. (Fri, 12 Mar 2010 19:36:15 GMT)

Treasury says 1 million homeowners in loan modifications
An Obama administration program to help struggling homeowners modify their mortgages has more than one million active borrowers, though fewer than 10 percent have obtained permanent loan modifications, according to a Treasury Department report released on Friday. (Fri, 12 Mar 2010 19:38:16 GMT)

Mortgage interest rates down for second week as home loan applications rise
Mortgage interest rates declined for a second consecutive week as the number of home loan applications rose. (Fri, 12 Mar 2010 19:57:31 GMT)

Real Estate Weekly: Risk of mortgage defaults still high, but dropping
Americans’ risk of defaulting on their mortgages is still high, but is at its lowest point since 2005. (Fri, 12 Mar 2010 20:15:41 GMT)

Gov't mortgage plan aids 16 percent of borrowers
The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, while hundreds of thousands of homeowners remain in limbo. (Fri, 12 Mar 2010 20:16:53 GMT)

Government mortgage plan aids 16% of borrowers
The Obama administration's mortgage relief plan has helped only about 16% of borrowers who signed up since its launch last year, while hundreds of thousands of homeowners remain in limbo. (Fri, 12 Mar 2010 20:56:26 GMT)

Some tax issues to consider on mortgage write-downs
With the Obama administration and private lenders actively considering mortgage principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued a new advisory to taxpayers who receive -- or seek to receive -- such assistance. The IRS gets involved in... (Fri, 12 Mar 2010 21:03:03 GMT)

2nd UPDATE: Pelosi: To Pair Health-Care, Student-Loan Bills
2nd UPDATE: Pelosi: To Pair Health-Care, Student-Loan Bills (Fri, 12 Mar 2010 21:09:15 GMT)

Lloyds aids mortgage overpayments
UK mortgage lender Lloyds Banking Group is encouraging borrowers to pay off up to 20% of their mortgages early. (Sat, 13 Mar 2010 00:04:16 GMT)

Average 30-year mortgage rate drops to 4.95%, Freddie Mac says
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. (Sat, 13 Mar 2010 00:11:00 GMT)

Mortgage rates on 30-year U.S. loans fall to 4.93 percent
U.S. mortgage rates fell to a two- month low, spurred by a Federal Reserve program to support home sales by lower borrowing costs. (Sat, 13 Mar 2010 02:53:15 GMT)

Report: Home-loan burden lightens
WASHINGTON — The number of borrowers falling behind on their mortgage payments dropped sharply at the end of last year, a sign the foreclosure crisis is beginning to ebb. (Sat, 13 Mar 2010 03:01:40 GMT)

Lender blames escrow shortage for $400 increase in monthly mortgage payment
Q: We have owned our house for many years, and the lender has always escrowed money to pay our real estate taxes and insurance. This year, we received a notice from the lender that our monthly mortgage payment will increase by over $400 because there is an escrow shortage. Can we cancel the escrow... (Sat, 13 Mar 2010 03:09:50 GMT)

Permanent mortgage loan modifications rise 50% in Chicago area
The number of Chicago-area homeowners who have received permanent mortgage loan modifications under the federal Home Affordable Modification Program increased by 50 percent in February, but the pace at which temporary modifications are being granted appears to be slowing. (Sat, 13 Mar 2010 03:22:38 GMT)

Bond refinancing saves Tamaqua Area $137K
Tamaqua Area school directors will save the district about $137,000 by refinancing a bond issue that originally paid for the Tamaqua Area Middle School.School directors unanimously voted to refinance about $3.1 million in outstanding general obligation (Sat, 13 Mar 2010 03:34:47 GMT)

Nabbing a Bargain-Basement Mortgage Before Rates Rise
Is it time to rush out and buy a house before mortgage rates go up? Rates are expected to rise at least modestly during the rest of this yearbut the rise could be much steeper. (Sat, 13 Mar 2010 03:34:51 GMT)

Borrowers in foreclosure prevention plan losing mortgage aid
About 90,000 distressed borrowers have lost their mortgage aid under the government's foreclosure prevention plan, and many more are at risk of losing the help, according to Treasury Department data released Friday. (Sat, 13 Mar 2010 05:00:00 GMT)

Jumbo Mortgage Market Beginning to Thaw
RISMEDIA, March 13, 2010—(MCT)—Phil Kelly had 18 more months to go before the fixed rate on his $2.5 million mortgage became adjustable. But when Kelly, a former computer executive living in Rancho Santa Fe, California learned he could knock his interest… (Sat, 13 Mar 2010 05:19:03 GMT)

Colo. Senate backs shift in oversight of mortgage lenders
The Colorado Senate approved an amendment to a mortgage regulation bill Friday that would strip Division of Real Estate Director Erin Toll of her authority to regulate mortgage lenders and replace it with a board to be appointed by the governor. (Sat, 13 Mar 2010 08:04:11 GMT)

Mortgage relief not a given A loan-alteration push falls far short of the numbers needing help.
The Obama administration's foreclosure prevention program shed some of the almost 1.1 million borrowers who arranged trial loan modifications through February, the Treasury Department reported. (Sat, 13 Mar 2010 08:06:22 GMT)

Tamaqua Area school district to save $137,000 by refinancing bond
TAMAQUA - Tamaqua Area school directors say they will save the district about $137,000 by refinancing a bond issue that originally paid for the Tamaqua Area Middle School. School directors unanimously voted to refinance about $3.1 million in outstanding (Sat, 13 Mar 2010 09:21:58 GMT)

Borrowers wait for home loan help
WASHINGTON -- Hundreds of thousands of homeowners are in limbo waiting to find out if they will be accepted for the Obama administration's foreclosure prevention program. (Sat, 13 Mar 2010 10:04:27 GMT)

The Home-Credit Derby Has Its Price
Federal tax credits for home buyers are some of the best deals aroundbut you'll have to jump through some hoops to get one before the deadline. (Sat, 13 Mar 2010 15:00:57 GMT)

Leicester 1 Cardiff 0: On-loan Waghorn keeps Bluebirds grounded
Leicester got their Coca-Cola Championship play-off challenge back on track with victory against top-six rivals Cardiff thanks to on-loan striker Martin Waghorn. (Sat, 13 Mar 2010 21:09:50 GMT)

Bill Jamieson: Renewed worries for UK housing market as mortgage funding dries up
WITH an election just weeks away, it is remarkable that very little has yet been said by the main parties on the state of the UK mortgage and housing market. It is an eerie si (Sun, 14 Mar 2010 00:12:00 GMT)

Bill Jamieson: Renewed worries for UK housing market as mortgage funding dries up
WITH an election just weeks away, it is remarkable that very little has yet been said by the main parties on the state of the UK mortgage and housing market. It is an eerie silence, and one I do not expect to last once the election campaign proper gets under way. (Sun, 14 Mar 2010 00:18:19 GMT)

‘Mortgage Financing Risks High Inflation’
Management of Diamond Bank Plc has said the rising inflationary rate in the country is having adverse impact on the operations of mortgage business. (Sun, 14 Mar 2010 02:00:16 GMT)

Remember Yvonne? She's waiting for a fourth loan modification
Three times she has gotten a loan modification, three times it has been taken back I first talked to Yvonne McBride-Acosta of Sunrise in October. Her situation was bad. (Sun, 14 Mar 2010 03:23:14 GMT)

Now best time to buy or refinance?
As the economy slowly begins to recover, changes are takingplace in the housing market that experts said indicate the besttime to buy a home or refinance an existing mortgage may benow. (Sun, 14 Mar 2010 03:29:10 GMT)

Almost 20% of area mortgages will see rate changes in 2010-11
Pop quiz: A homeowner is paying $1,900 a month on a $400,000 adjustable-rate mortgage that's due to reset sometime this year. How much will that person pay once the mortgage resets? (Sun, 14 Mar 2010 04:33:36 GMT)

Prince William County home assessments level off
The residential housing market in some Prince William County neighborhoods is beginning to recover after being plagued by foreclosures and plunging home values. (Sun, 14 Mar 2010 05:00:00 GMT)

More consumers pay credit card, but not mortgage
CHICAGO — U.S. consumers are starting to look like a frugal, debt-fearing lot as they pay down billions of dollars in credit-card obligations. But an alarming trend is emerging: A small but growing number of people are skipping mortgage payments in favor of paying their credit card bills. (Sun, 14 Mar 2010 06:28:09 GMT)

Marysville couple buys, renovates a home with help from little-used loan program
MARYSVILLE — For some time, Larry Iverson had been looking for a fixer-upper. But as home prices continued to climb, even places with serious problems were priced out of Iverson’s reach. (Sun, 14 Mar 2010 07:17:24 GMT)

Will mortgage rates rise? Fed action only part of the picture
Question: We have been hearing that mortgage rates will go up after March 31st because the Federal Reserve will stop buying mortgage bonds. Is this true? How does that work? (Sun, 14 Mar 2010 07:18:14 GMT)

GMAC's mortgage arm will be tough to unload
ResCap, the mortgage lending subsidiary of GMAC, "has been a millstone around the company's neck" in the words of GMAC Chief Executive Michael Carpenter. But disposing of ResCap without crippling GMAC's automotive lending business or adding to GMAC's $17.2-billion debt to the U.S. Treasury Department won't be easy. (Sun, 14 Mar 2010 07:30:46 GMT)

Owner of Legacy Lending pleads guilty in $20 million mortgage scam
On March 2, in federal court in St. Paul, the 30-year-old part owner of Legacy Lending pleaded guilty to participating in a mortgage fraud scheme that involved 37 separate real estate transactions and $20 million in loan proceeds. (Sun, 14 Mar 2010 07:38:52 GMT)

Goverment mortgage plan aids 16 percent of borrowers
WASHINGTON — The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, and hundreds of thousands of homeowners are in limbo without an answer. (Sun, 14 Mar 2010 08:02:23 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, 14 Mar 2010 08:03:16 GMT)

More consumers pay credit card, but not mortgage
U.S. consumers are starting to look like a frugal, debt-fearing lot as they pay down billions of dollars in credit-card obligations. But an alarming trend is emerging: A small but growing number of people are skipping mortgage payments in favor of payin (Sun, 14 Mar 2010 08:09:40 GMT)

Real Estate: Next wave of ARMs primed for resets in 2010-11
Pop quiz: A homeowner is paying $1,900 a month on a $400,000 adjustable-rate mortgage that's due to reset sometime this year. How much will that person pay once the mortgage resets? (Sun, 14 Mar 2010 08:49:46 GMT)

Homeowners tap their home equity
John Hale's four-bedroom house near Seattle is worth about $2 million and is 90 percent paid for. It still took him nine months to find a bank that would give him a $250,000 home equity line of credit. (Sun, 14 Mar 2010 09:15:17 GMT)

Jefferson, Orleans to roll out new low-interest loan programs
With interest rates expected to rise, the finance authorities of Jefferson and Orleans parishes have recaptured federal housing recovery money that was set to expire late last year and are dedicating it to new low-interest loan programs to help... (Sun, 14 Mar 2010 10:20:18 GMT)

Sunrise woman's story shows what's wrong with loan modifications
Three times she has gotten a loan modification, three times it has been taken back I first talked to Yvonne McBride-Acosta of Sunrise in October. Her situation was bad. (Sun, 14 Mar 2010 11:40:56 GMT)

DONOVAN LOAN DEFINITELY OVER
Donovan - returns to the United States. Everton have confirmed forward Landon Donovan's loan spell has officially ended and the American will return to Los Angeles Galaxy. (Sun, 14 Mar 2010 13:05:27 GMT)

Everton Confirm Landon Donovan's Premier League Loan Spell Is Definitely Over
Everton have confirmed that Landon Donovan will definitely be returning to the Los Angeles Galaxy and will not extend his loan spell on Merseyside any further. (Sun, 14 Mar 2010 16:07:48 GMT)

Soccer Capsules: Donovan says loan shows he can play at top level
LIVERPOOL, England — Landon Donovan says his 10-week loan from Major League Soccer to English Premier League club Everton has shown he can play at the highest level. (Sun, 14 Mar 2010 22:56:33 GMT)

The Home-Credit Derby Has Its Price
Federal tax credits for home buyers are some of the best deals aroundbut you'll have to jump through some hoops to get one before the deadline. (Mon, 15 Mar 2010 02:09:48 GMT)

Filipinos urged to join Home Development Fund
DOHA: Overseas Filipino Workers (OFWs) in Qatar are now obliged with a new law to register with the Philippine government’s Home Development Mutual Fund (HDMF) or more popularly known as Pag-IBIG fund. (Mon, 15 Mar 2010 03:20:21 GMT)

City home programs offer free subsidies
CHARLESTON, W.Va. -- Folks just dont believe Zora Rogers when she offers them free money. "Its funny when I tell people that," said Rogers, home program supervisor in the citys Mayors Office of Economic and Community Development (MOECD). She run... (Mon, 15 Mar 2010 03:53:13 GMT)

Commercial Mortgage Debt Rallies as TALF Ending: Credit Markets
March 15 (Bloomberg) -- Commercial mortgage-backed bond returns are accelerating as the Federal Reserve ends support for the $700 billion market, showing growing confidence that loan defaults won’t derail the economic recovery. (Mon, 15 Mar 2010 03:55:38 GMT)

Homebuyers rush to beat tax credit deadline
Zachary and Elva Clevenger house-shopped for two years before deciding that now was the time to buy. Prices and mortgage rates had come down. And the clock was ticking on the $8,000 tax credit for first-time buyers. (Mon, 15 Mar 2010 04:04:21 GMT)

Owner of Legacy Lending pleads guilty in $20 million mortgage scam
On March 2, in federal court in St. Paul, the 30-year-old part owner of Legacy Lending pleaded guilty to participating in a mortgage fraud scheme that involved 37 separate real estate transactions and $20 million in loan proceeds. (Mon, 15 Mar 2010 06:53:53 GMT)

Will mortgage rates rise? Fed action only part of the picture
Question: We have been hearing that mortgage rates will go up after March 31st because the Federal Reserve will stop buying mortgage bonds. Is this true? How does that work? (Mon, 15 Mar 2010 07:16:42 GMT)

South Africa : Hogan - Eskom Loan Crucial for Economic Development
Cape Town — If the World Bank chose not to approve the $3.75-billion loan to help build two new power stations, we can "essentially say goodbye to our country", said Minister of Public Enterprises Barbara Hogan in Pretoria today. (Mon, 15 Mar 2010 08:19:46 GMT)

Few homeowners helped by mortgage aid
The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, while hundreds of thousands of homeowners remain in limbo. (Mon, 15 Mar 2010 08:33:48 GMT)

Do you need mortgage protection insurance?
If you're wondering if you would benefit from this coverage, the answer is: It depends. (Mon, 15 Mar 2010 10:00:00 GMT)

Talking Money: Riding the interest-rate rollercoaster
If you have a variable rate credit card, an adjustable rate mortgage or a savings account, you've likely noticed that throughout this recession, your interest rates have gone down — in some cases, by quite a bit. (Mon, 15 Mar 2010 10:14:04 GMT)

Mortgage Originations Jump in 2009; Wells is Biggest
DALLAS , March 15 /PRNewswire/ -- Residential mortgage production increased by more than a third last year, according to MortgageDaily.com's Fourth Quarter 2009 Mortgage Lender Ranking . Wells Fargo & Co. was 2009's biggest lender. The analysis of year-over-year production indicated that last year's volume increased approximately 40 percent from 2008. The findings were based on data obtained ... (Mon, 15 Mar 2010 11:00:00 GMT)

It's Possible to Save BIG Regardless of Income
Elisabeth Leamy tackles the responses to her Savings Makeover and shares more tips on saving big on cell phone bills, mortgages, groceries and health insurance. (Mon, 15 Mar 2010 11:17:43 GMT)

Commercial Mortgage Debt Rallies as TALF Ending: Credit Markets
March 15 (Bloomberg) -- Commercial mortgage-backed bond returns are accelerating as the Federal Reserve ends support for the $700 billion market, showing growing confidence that loan defaults won’t derail the economic recovery. (Mon, 15 Mar 2010 11:22:31 GMT)

Lyondell to Sell Bonds as Junk Issuance Rises: New Issue Alert
March 15 (Bloomberg) -- Lyondell Chemical Co. is among borrowers marketing U.S. corporate bonds after sales of high- yield, high-risk debt reached the most since December amid signs the economic recovery is gaining strength. (Mon, 15 Mar 2010 11:37:44 GMT)

Marysville couple buys, renovates a home with help from little-used loan program
MARYSVILLE — For some time, Larry Iverson had been looking for a fixer-upper. But as home prices continued to climb, even places with serious problems were priced out of Iverson’s reach. (Mon, 15 Mar 2010 12:14:26 GMT)

Relevant Links
Mr Massawe said the project appraisal document prepared by the World Bank, BoT and Housing Ministry, puts the initial minimum capital for the mortgage at $4.4 million. (Mon, 15 Mar 2010 12:52:52 GMT)

Loan squeeze thwarts small-business revival
(From The Wall Street Journal ) Thomas Harrison, chief executive of Michigan Ladder Co., has a plan that would contribute to the U.S. economic recovery: Expand the 108-year-old company, adding at least 20 jobs in the process. His chances of getting the loan of $300,000 or more he needs to do so, though, depend in part on what happens to folks like home builder James Haeussler. (Mon, 15 Mar 2010 13:22:37 GMT)

BofA Mortgage Modifications Jump in February
Bank of America completed 20,666 mortgage modifications in February under a U.S. government-backed program, up 61 percent from January, the bank said on Friday. (Mon, 15 Mar 2010 13:58:34 GMT)

Nabbing a Bargain-Basement Mortgage Before Rates Rise
Is it time to rush out and buy a house before mortgage rates go up? Rates are expected to rise at least modestly during the rest of this yearbut the rise could be much steeper. (Mon, 15 Mar 2010 14:11:52 GMT)

CREA says February existing home sales rose 44 per cent from a year earlier
OTTAWA - Canadian home resales moved higher in February-setting new monthly records in both Ontario and Quebec - but the rebound is starting to lose some of its steam. (Mon, 15 Mar 2010 14:19:00 GMT)

CREA says February existing home sales rose 44 per cent from a year earlier
OTTAWA - Canadian home resales moved higher in February-setting new monthly records in both Ontario and Quebec - but the rebound is starting to (Mon, 15 Mar 2010 14:33:06 GMT)

BofA, Wells Fargo Mortgage Modifications Up In Feb.
Mortgage modifications at two of the nation's largest banks rose in February under a government-backed program, according to federal data. (Mon, 15 Mar 2010 14:55:55 GMT)

5 states rush plans for $1.5B in housing funds
The five states hardest hit by the foreclosure crisis have been given only weeks to plan how to spend $1.5 billion in federal funding announced by the Obama administration last month. (Mon, 15 Mar 2010 15:36:36 GMT)

US To Abstain From Eskom Loan Vote
The US government has reportedly indicated to the South African government that it would abstain from the Eskom World Bank loan vote in early April, Public Enterprises Minister Barbara Hogan said on Friday - the vote was expected to take place on either April 7 or April 8, 2010. (Mon, 15 Mar 2010 16:08:33 GMT)

Absa allows mortgage skip
SAs largest retail bank Absa is allowing HIV-infected clients to miss mortgage payments on its 110% home loan product. (Mon, 15 Mar 2010 16:12:56 GMT)

Absa allows mortgage skip
Absa, SA's largest retail bank, is allowing HIV infected clients to skip mortgage payments on its 110% home loan product. (Mon, 15 Mar 2010 16:19:31 GMT)

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