Mortgage News Mar 2010

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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 17:02:35 GMT)

Follow the Money Links: How hard is it to get a mortgage these days?
Even if a borrower has good credit, there may be other stumbling blocks on the road to your 30-year fixed mortgage, according to the Wall Street Journal. Plus, other housing- and mortgage-related news links. (Mon, 15 Mar 2010 18:21:10 GMT)

Central Bank to buy out partners in mortgage subsidiary by month-end
Public sector Central Bank of India expects to complete the buyback of its mortgage finance subsidiary, Centbank Home Finance, by the end of the current financial year. (Mon, 15 Mar 2010 18:31:47 GMT)

Home Bank expands reach
Lafayette-based Home Bank has entered into an agreement with the Federal Deposit Insurance Corp. to purchase certain assets, deposits and liabilities of Statewide Bank, which has headquarters in Covington. (Mon, 15 Mar 2010 19:28:19 GMT)

Fitch Upgrades Home Capital Group; Outlook Stable
NEW YORK----Fitch Ratings has upgraded the long-term and short-term Issuer Default Ratings of Home Capital Group, Inc and its subsidiary, Home Trust Company to 'BBB/F2' from 'BBB-/F3'. (Mon, 15 Mar 2010 19:33:00 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 20:12:57 GMT)

Former Waynesville man convicted in $7.9 million mortgage scheme
DAYTON — A former Waynesville man was convicted of charges relating to a mortgage scheme that prosecutors said netted him more than $7.9 million and involved 57 property investors and 246 residential properties throughout greater Dayton.Gregory S. Chew, 42, was convicted Monday, March 15, after a 15-day trial in federal court. (Mon, 15 Mar 2010 20:49:10 GMT)

VU Law conference holds conference on subprime mortgage crisis
VALPARAISO | The Valparaiso University School of Law will host aMarch 26 conference delving into the causes and consequences of thesubprime mortgage crisis. “Anatomy of the Subprime Mortgage Crisis:Empirical Studies of Loan Document Data – a Symposium” will featurepresentations by nine scholars from around the country who willdiscuss their original empirical papers exploring the terms ... (Mon, 15 Mar 2010 20:55:02 GMT)

Cost of owning a home up slightly in late 2009; will continue to rise: RBC
TORONTO - Home prices will continue to rise this spring as buyers scramble to close deals ahead of expected higher interest rates, new mortgage rules and new taxes in two key markets. (Mon, 15 Mar 2010 21:12:00 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 21:15:11 GMT)

Fitch upgrades Home Capital Group ratings
Fitch Ratings has upgraded the long-term and short-term ratings of Toronto-based mortgage company, Home Capital Group, Inc. (Mon, 15 Mar 2010 21:33:11 GMT)

Mortgage approvals fall by half
Just 32,000 mortgages were approved in January compared to 62,800 in December, the CML said, as first-time buyers deserted the market The number of mortgages approved for house purchases fell by almost half in January, as the reintroduction of stamp duty on homes costing more than £125,000 hit the market, the Council of Mortgage Lenders (CML) said today. A total of 32,000 homebuyer loans worth ... (Mon, 15 Mar 2010 21:57:04 GMT)

Home loan company to fill 100 jobs at Kierland office
Loan Resolution Corp. expects to quadruple number of short sales through two major banks (Mon, 15 Mar 2010 22:43:01 GMT)

Junk Bond Avalanche Looms for Credit Markets
More than $700 billion of high-yield debt will mature over a three-year period beginning in 2012, raising worries about new loans, defaults and bankruptcies. (Mon, 15 Mar 2010 22:49:13 GMT)

Phil Capitano says he has paid mortgage
Kenner mayoral candidate Phil Capitano, target of a foreclosure lawsuit filed in January, said Monday he has brought his mortgage paymentsup to date. Phil Capitano"I paid it; it's all current," he said. JPMorgan Chase Bank started foreclosure proceedings against... (Mon, 15 Mar 2010 22:56:01 GMT)

Man sentenced in Arizona mortgage fraud scheme
PHOENIX (AP) — A Haitian man was sentenced Monday to nearly 17 years in prison for leading a mortgage fraud scheme in Phoenix that authorities say cost banks about $9.5 million. Federal prosecutors say 51-year-old Mario G. Bernadel was convicted last September on 19 counts related to mortgage fraud, including mail, wire and bank fraud plus transactional money laundering. Authorities say Bernadel ... (Tue, 16 Mar 2010 00:14:19 GMT)

Mortgage fraud nets man 17-year prison sentence
A Haitian man was sentenced Monday to nearly 17 years in prison for leading a mortgage fraud scheme in Phoenix that authorities say cost banks about $9.5 million. (Tue, 16 Mar 2010 00:41:35 GMT)

Mortgage refinancing penalties prompt backlash
Ombudsman for Banking Services sees spike in complaints from Canadians upset about size of penalties – or fees that weren't clearly disclosed (Tue, 16 Mar 2010 01:14:42 GMT)

sellers couldn't meet their obligation
The California Association of Realtors' 2009-2010 Survey of California Home Sellers reports 67 percent of all sellers in the state sold their homes due to difficulties in meeting their mortgage obligation. (Tue, 16 Mar 2010 02:35:51 GMT)

Mortgage relief program popular, arduous
A year after the federal government launched the Homeowner Affordability and Stability Plan, interest in the government's mortgage relief program is still strong. (Tue, 16 Mar 2010 03:06:54 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. (Tue, 16 Mar 2010 03:09:53 GMT)

Batemon: Feds not likely to pay off loan for Veterans Home
PELL CITY — St. Clair County Commission Chairman Stan Batemon said Monday it’s doubtful a local loan for the construction of the new Veterans Home could be paid off with federal dollars. (Tue, 16 Mar 2010 03:41:51 GMT)

Man’s mortgage scam in Phoenix costs banks $9.5 million
Officials said the Haitian man ran the mortgage fraud scheme from 2005 to 2007. (Tue, 16 Mar 2010 04:00:35 GMT)

California tax relief for forgiven mortgage debt delayed by politics
Sacramento-area residents are almost certain to get state tax relief for 2009 forgiven mortgage debt – eventually. (Tue, 16 Mar 2010 05:59:26 GMT)

Warning over mortgage fraud rise
Lenders have been urged to be on their guard against rising levels of mortgage fraud as the economy picks up. (Tue, 16 Mar 2010 06:42:31 GMT)

Junk Bond Avalanche Looms for Credit Markets
When the Mayans envisioned the world coming to an end in 2012 — at least in the Hollywood telling — they didn’t count junk bonds among the perils that would lead to worldwide disaster, Nelson D. Schwartz writes in The New York Times. (Tue, 16 Mar 2010 06:45:58 GMT)

Lenders warned on mortgage fraud
Lenders were urged today to be on their guard against rising levels of mortgage fraud as the economy picks up. (Tue, 16 Mar 2010 06:53:52 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. (Tue, 16 Mar 2010 06:58:26 GMT)

Fight against mortgage fraud steps up
With nearly £144 billion in mortgages loaned in the last year, this presents an attractive target for criminals. The NFA estimates that the annual value of mortgage fraud is £1 billion, and without continued cooperation, that figure could increase. (Tue, 16 Mar 2010 08:20:51 GMT)

Candidate has home facing foreclosure
An Indio home owned by Riverside County supervisor candidate Gary Jeandron is in the early stages of foreclosure after a failure to pay $11,807, county property records show. (Tue, 16 Mar 2010 08:30:42 GMT)

Jeandron: Indio home foreclosure to be resolved soon
Riverside County supervisor candidate Gary Jeandron is in the early stages of foreclosure after failing to pay $11,807 on his Indio home, county property records show. (Tue, 16 Mar 2010 08:35:20 GMT)

Refinance likely, thanks to equity cushion
Owning a first home free and clear should boost the odds of getting a refinance on a second home. (Tue, 16 Mar 2010 10:00:00 GMT)

Gov’t-owned home guaranty firm eyes sale of P5.5B bonds
Government-owned Home Guaranty Corp. (HGC) says it is eyeing the sale of P5.5 billion worth of bonds in the domestic capital market in April to pay off its debts and beef up its reserves. (Tue, 16 Mar 2010 10:15:53 GMT)

Mortgage report finds state ranks high in bad loans
The Feb. 2010 Mortgage Monitor report, released by Lender Processing Services Inc., shows that while delinquency rates in the U.S. have risen to historic highs, the pace of deterioration has slowed. (Tue, 16 Mar 2010 10:59:25 GMT)

National Fraud Authority warns against rise in mortgage fraud
In a report published today, called Working Together to Stop Mortgage Fraud, the NFA says the public and private sector should join forces to more effectively respond to new fraud threats. (Tue, 16 Mar 2010 11:14:12 GMT)

Radnet to Sell Bonds as Yield Spreads Narrow: New Issue Alert
March 16 (Bloomberg) -- Radnet Inc. , the owner of outpatient diagnostic imaging centers, plans to issue bonds as narrowing yield spreads and falling interest rates lure borrowers to the U.S. corporate debt market. (Tue, 16 Mar 2010 11:24:36 GMT)

Winger loan deal blocked
MATCH winner Nick Ross almost followed follow fellow youngsters Graeme Shinnie, Gavin Morrison and Shane Sutherland out on loan, it emerged yesterday. (Tue, 16 Mar 2010 13:12:20 GMT)

Man Sentenced in Mortgage Fraud Scheme
A Haitian man was sentenced to nearly 17 years in prison for leading a mortgage fraud scheme in Phoenix that authorities say cost banks about $9.5 million. (Tue, 16 Mar 2010 14:02:39 GMT)

Man sentenced in Arizona mortgage fraud scheme
A Haitian man was sentenced Monday to nearly 17 years in prison for leading a mortgage fraud scheme in Phoenix that authorities say cost banks about $9.5 million. (Tue, 16 Mar 2010 14:34:39 GMT)

Regulators: Maine home foreclosures keep rising
Maine banking regulators say home foreclosures in the state are continuing to increase. But they also report a substantial increase in first-time mortgages. (Tue, 16 Mar 2010 15:11:30 GMT)

Mortgage payoff in a divorce
Can split trigger due-on-sale clause? Can split trigger due-on-sale clause? DEAR BENNY: My wife and I are in the process of getting a divorce. I am prepared to give her the family home so that our children will not be disrupted any more than they already are. (Tue, 16 Mar 2010 16:19:20 GMT)

Great Oak Lending Partners Ranked 10th in US for Reverse Mortgage Production
TIMONIUM, MD--(Marketwire - 03/16/10) - Great Oak Lending Partners , a trusted mortgage company servicing the Mid-Atlantic, today announced that it has been ranked # 10 nationwide for reverse mortgage production and volume for the month of February, as recorded by the monthly HECM endorsement reports. The company was also recognized as the top ranked company in the state of Maryland. This ... (Tue, 16 Mar 2010 16:24:00 GMT)

Great Oak Lending Partners Ranked 10th in US for Reverse Mortgage Production
Top Ranked Company in Maryland; Grows Market Share by 4910 Percent (Tue, 16 Mar 2010 16:34:24 GMT)

Southern California home prices rise 10% in February
Led by double-digit jumps in coastal areas, the median sales price for the region reaches $275,000. The number of homes sold was nearly flat, up only 0.8%. Southland home prices jumped 10% in February compared with the same month last year as foreclosure sales dropped significantly. San Diego and Orange counties made particularly strong gains. (Tue, 16 Mar 2010 17:31:25 GMT)

Fighting Blight in the City One Home at a Time
A federal grant program is helping Fresno to fight blight in the city, one home at a time. The city's working on a plan to give older neighborhoods a facelift. Fresno buys foreclosed and abandoned homes, renovates them and then sells them. It’s part of the Neighborhood Stabilization Program (NSP), a U.S. Department of Housing and Urban Development (HUD) program, which provides targeted emergency ... (Tue, 16 Mar 2010 18:16:12 GMT)

Fed Affirms Plan to End Mortgage Intervention
The Federal Reserve’s move to stop buying mortgage-backed securities shows a degree of confidence that it can eliminate that pillar of support without undermining the nation’s economic recovery. (Tue, 16 Mar 2010 18:42:17 GMT)

Student bears loss of parents, faces mortgage
Imagine a teenager enduring the heartache of losing both parents. Then imagine having to bear the weight of those deaths every day. Such is the plight of 18-year-old Eric Oliver, a Leyden High School District 212 senior, who bravely dealt with the loss of his parents, Nancie and Alan Oliver, and has managed to pay the monthly mortgage on his childhood home. (Tue, 16 Mar 2010 18:48:26 GMT)

Mortgage Rates Rise Slightly; Current 30-Year Fixed Rate is 4.78%, According to Zillow(R) Mortgage Rate Ticker
The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.78 percent, up two basis points from 4.76 percent compared to this same time last week. The 30-year fixed mortgage rate rose and fell the past week with a Monday spike to 4.85 percent. (Tue, 16 Mar 2010 18:49:00 GMT)

Fed To End $1.25 Trillion Mortgage Buys Mar 31 As US Economy Improves
Fed To End $1.25 Trillion Mortgage Buys Mar 31 As US Economy Improves (Tue, 16 Mar 2010 18:55:12 GMT)

Heslop looking for home
On loan midfielder hoping to have found a home at Luton (16/03/2010 17:13:52) (Tue, 16 Mar 2010 19:14:06 GMT)

UPDATE: Fed To End Mortgage Buys Mar 31 As US Economy Gains
UPDATE: Fed To End Mortgage Buys Mar 31 As US Economy Gains (Tue, 16 Mar 2010 19:54:05 GMT)

How Much Will Mortgage Rates Rise When Fed Ends Support?
Mortgage rates, which many feared would rise sharply when the Fed stops propping up the market, may not budge much, analysts say (Tue, 16 Mar 2010 20:12:38 GMT)

Commercial mortgage group spent $130,000 lobbying
The Commercial Mortgage Securities Association, which represents buyers and sellers of investments backed by commercial real estate loans, spent $130,000 in the fourth quarter of last year to lobby the federal government on banking regulations and other issues, according to a disclosure form. (Tue, 16 Mar 2010 20:37:38 GMT)

Is it time to refinance?
Is it time to refinance? St. Clair County — I am often asked when would be a good time to refinance a home mortgage. A good answer to this question can change daily. There are many variables that must be considered when analyzing this situation. (Tue, 16 Mar 2010 20:40:12 GMT)

HARP Could Be Music to Homeowners' Ears, Says Informa Research Services
CALABASAS, Calif.----Even though national average mortgage rates have been hovering below 5.25% for the past month or so, many borrowers have not refinanced their current home loan, even though their current rate may be over 6%. (Tue, 16 Mar 2010 22:05:00 GMT)

Mortgage bankers group spent $596K lobbying in 4Q
The Mortgage Bankers Association spent $596,000 in the fourth quarter of last year to lobby the federal government on banking regulations and other issues, according to a disclosure form. (Tue, 16 Mar 2010 22:12:53 GMT)

sellers couldn't meet their obligation
The California Association of Realtors' 2009-2010 Survey of California Home Sellers reports 67 percent of all sellers in the state sold their homes due to difficulties in meeting their mortgage obligation. (Tue, 16 Mar 2010 22:13:57 GMT)

Refinancing your mortgage: why, how, when?
You may be thinking about refinancing your mortgage. Mortgage rates are fairly low right now, so why not take advantage of them? But is that really a good idea? Let’s take a closer look at the why, how and when of mortgage refinancing. (Tue, 16 Mar 2010 22:14:14 GMT)

8 Things To Consider Before Walking Away From Your Mortgage
A desperate couple in Illinois considers a "strategic foreclosure." Brett Arends urges them to consider their options first. (Tue, 16 Mar 2010 22:36:01 GMT)

PIMCO: End of mortgage buys form of tightening
The end of the Federal Reserve's program of purchasing $1.25 trillion of mortgage-backed securities at the end of March is a form of tightening monetary policy, the chief of the largest U.S. bond fund manager said on Tuesday. (Tue, 16 Mar 2010 22:50:50 GMT)

Federal Home Loan Bank Sues Over Mortgage Securities (Update1)
March 16 (Bloomberg) -- The Federal Home Loan Bank of San Francisco said it sued nine securities dealers in an effort to rescind purchases of $19.1 billion in private-label residential mortgage-backed securities. (Tue, 16 Mar 2010 23:53:02 GMT)

(AFX UK Focus) 2010-03-17 00:29 UPDATE 1-Jones Lang hires mortgage trio from CB Richard Ellis
By Ilaina Jonas (Wed, 17 Mar 2010 00:58:08 GMT)

Boynton Beach couple, Delray Beach man indicted in mortgage scam
Boynton Beach couple, Delray Beach man indicted in mortgage scam (Wed, 17 Mar 2010 01:35:02 GMT)

Half of home loans snubbed
More than 50 percent of home loan applications are still being declined despite many banks relaxing their credit criteria. (Wed, 17 Mar 2010 02:56:13 GMT)

Federal Home Loan Bank Sues Over Mortgage Securities (Update3)
March 16 (Bloomberg) -- The Federal Home Loan Bank of San Francisco sued nine securities dealers alleging they misled it about the credit quality and risks of loans behind $19.1 billion in private-label residential mortgage-backed securities. (Wed, 17 Mar 2010 03:05:50 GMT)

Floridian indicted in mortgage fraud scheme in Texas
A Florida resident has been charged with orchestrating a mortgage fraud scheme involving 114 houses in the Dallas area and around Texas that cost banks and other lenders more than $20 million. (Wed, 17 Mar 2010 03:16:34 GMT)

One family's nightmare struggle to keep their home
Marianne Gentry, 66, lives with her disabled husband and desperately ill son. And they're about to get kicked out of their home. (Wed, 17 Mar 2010 04:11:20 GMT)

One family's nightmare struggle to keep their home
Marianne Gentry, 66, lives with her disabled husband and desperately ill son. And they're about to get kicked out of their home. (Wed, 17 Mar 2010 04:15:40 GMT)

Home loan plan thrives
Mortgage agency offers low interest rates for first-time borrowers (Wed, 17 Mar 2010 04:21:18 GMT)

S. Africa Banks Reject 50% of Mortgage Applications, BusRep Says
March 17 (Bloomberg) -- South African banks are rejecting 50 percent of home loan applications even as the lenders loosened credit criteria, Business Report said, citing Saul Geffen, chief executive officer of ooba, a mortgage originator. (Wed, 17 Mar 2010 06:21:06 GMT)

Fed Affirms Plan to End Mortgage Intervention
The Federal Reserve on Tuesday affirmed its plan to stop buying mortgage-backed securities, expressing a degree of confidence that it could eliminate that pillar of support without undermining the nation’s economic recovery, Sewell Chan reports in The New York Times. (Wed, 17 Mar 2010 07:15:58 GMT)

US real estate: HARP to assist in mortgage refinancing
In the United States, national average mortgage rates have been below 5.25% for the past month or so, but many borrowers have not refinanced their current home loan, even though their current rate may be over 6%. Some 4.2 million homeowners who refinanced their mortgages last year are saving an average of $2,600 annually, AimLoan.com informed via a press release of Informa Research Services, Inc ... (Wed, 17 Mar 2010 08:08:03 GMT)

Mortgage arrears cases fall by 4%
Total number of mortgages in arrears in 2009 below predictions, as government continues to promote options available to struggling borrowers The number of borrowers behind with mortgage repayments fell by 4% in the last quarter of 2009, as low interest rates continued to help homeowners meet their monthly bills, figures showed today. By the end of last year 378,000 mortgage accounts were in ... (Wed, 17 Mar 2010 09:12:27 GMT)

Tips From A VA Loan Mortgage Expert
LowVARates.com professional loan specialists share valuable loan tips and discuss in detail the process of getting a VA Home Loan. LowVARates specializes in providing VA Loans for the men and women of the U.S. Armed Forces. (PRWeb Mar 17, 2010) Read the full story at http://www.prweb.com/releases/va (Wed, 17 Mar 2010 09:46:00 GMT)

CashCall Mortgage Advises Consumers: 'Never Pay Closing Costs'... Traditional Lenders Upset That Industry Secret ...
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. (Wed, 17 Mar 2010 10:15:00 GMT)

U.S. MBA Mortgage Applications Index Fell 1.9% Last Week
March 17 (Bloomberg) -- Mortgage applications in the U.S. fell last week, led by a slump in purchases, a sign an extension of a tax credit for homebuyers has yet to spur demand. (Wed, 17 Mar 2010 11:30:57 GMT)

US Mortgage Applications Down 1.9% Last Week -MBA
US Mortgage Applications Down 1.9% Last Week -MBA (Wed, 17 Mar 2010 11:51:40 GMT)

Getting a Mortgage Without Perfect Credit
The government keeps promoting programs designed to help existing homeowners refinance their mortgages at a lower rate, as well as get perspective buyers into homes. In other words, Uncle Sam says he's here to help. "Phooey," say homeowners and prospective homeowners, who keep complaining that it is ridiculously hard to get a mortgageor refinance one. Can both sides be right? Unfortunately, yes ... (Wed, 17 Mar 2010 12:08:44 GMT)

When Will Mortgage Rates Go Up?
Over the last several months, I've written a lot about the current state of residential real estate, and the opportunities made available by the combination of lower housing prices and falling interest rates. As we approach the end of this year's residential real estate buying-and-selling season, this is a good time to start thinking about what might lie ahead. (Wed, 17 Mar 2010 12:08:44 GMT)

NexMed Bolsters Its Cash Reserve with $1.4 Million Infusion from Successful Mortgage Refinancing on Its New Jersey ...
SAN DIEGO----NexMed, Inc. , a specialty CRO with a pipeline of products based on the NexACT® technology, announced today that it raised $1.4 million in gross proceeds from refinancing the mortgage on its manufacturing facility in New Jersey. (Wed, 17 Mar 2010 12:30:00 GMT)

Injury ends Welbeck's loan
Danny Welbeck has made a premature return to Manchester United after picking up a knee injury while on loan at Preston North End. Welbeck needs an operation after sustaining the injury in training ahead of the recent home game against Cardiff City. (Wed, 17 Mar 2010 13:23:29 GMT)

Home repair loans offered in Avon
In an effort to aid homeowners and preserve the city’s historical architecture, Avon and the Cleveland Restoration Society are partnering to provide an alternative financing option for home repair and improvement projects. The city entered into CRS’s Heritage Home Loan Program. (Wed, 17 Mar 2010 14:25:29 GMT)

New mortgage rules leave homebuyers confused
Confused about Canada's new rules governing mortgages? Read on (Wed, 17 Mar 2010 15:30:42 GMT)

U.S. mortgage activity down slightly
WASHINGTON, March 17 (UPI) -- The volume of applications for U.S. mortgages dropped slightly in the week, although long-term interest rates also dropped, an industry group said Wednesday. (Wed, 17 Mar 2010 16:49:26 GMT)

Eau Claire mortgage lender can't repay $9 million
A former state revenue official who owns a mortgage lending company has filed for bankruptcy protection. (Wed, 17 Mar 2010 17:12:39 GMT)

Bailout watchdog to audit gov't mortgage program
The federal bank bailout watchdog is planning to scrutinize the formula used by mortgage companies to evaluate borrowers for the Obama administration $75 billion mortgage relief program. (Wed, 17 Mar 2010 17:12:49 GMT)

Bailout watchdog to audit gov't mortgage program
The federal bank bailout watchdog is planning to scrutinize the formula used by mortgage companies to evaluate borrowers for the Obama administration $75 billion mortgage relief program. Neil Barofsky, the special inspector general for the Troubled Asset... Neil Barofsky - Mortgage - United States - Bailout - Financial services (Wed, 17 Mar 2010 18:15:09 GMT)

GOP Claims Mortgage Rescue Books Are Cooked
Is a program designed to help homeowners with mortgage burdens or is the program just a temporary fix? Mortgage - Business - Financial services - United States - Foreclosure (Wed, 17 Mar 2010 19:32:14 GMT)

Mortgage Rates Rise Slightly; Current 30-Year Fixed Rate is 4.78%
RISMEDIA, March 18, 2010—The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.78%, up two basis points from 4.76% compared to this same time last week. The 30-year fixed mortgage rate rose and fell the past week with… (Wed, 17 Mar 2010 19:34:03 GMT)

Obama Overstates Loan Modification Success, Republicans Say
The Obama administration is inflating the success of programs to prevent foreclosures by skewing data on loan modifications and revising the goals, according to House Republicans. (Wed, 17 Mar 2010 20:05:14 GMT)

Obama Overstates Loan Modification Success, Republicans Say
March 17 (Bloomberg) -- The Obama administration is inflating the success of programs to prevent foreclosures by skewing data on loan modifications and revising the goals, according to House Republicans. (Wed, 17 Mar 2010 21:40:39 GMT)

Workshop offers Coachella Valley homeowners on-the-spot mortgage options
Homeowners in the Coachella Valley and across Riverside and San Bernardino counties who have mortgages through Wells Fargo and Wachovia Mortgage will have an opportunity to get "on-the-spot" options for their mortgages during a three-day workshop that begins Saturday. (Wed, 17 Mar 2010 23:43:25 GMT)

Ex-Met Dykstra sues bank over reneged home loan
Former Mets and Phillies star Lenny Dykstra has sued JP Morgan Chase & Co. Inc. for $100 million, saying he didn't get the loan he needed when he bought hockey great Wayne Gretzky's California home. (Thu, 18 Mar 2010 00:00:37 GMT)

Homeowners Pounce On Low Mortgage Interest Rates
The Stoberts of Brackenridge have just refinanced their home.  Taking advantage of lower interest rates, they are saving lots of money – about $300 to $400 a month.  Mortgage broker Justin Police says rates -- now averaging 4.86 percent on a 30-year mortgage -- are not likely to get much lower. (Thu, 18 Mar 2010 00:31:25 GMT)

Mortgage-backed securities to come under stress as house prices decline
IRISH residential mortgage-backed securities are expected to come under severe pressure as house prices continue to plummet. (Thu, 18 Mar 2010 00:45:44 GMT)

DROP IN HOME SALES UNDERSCORES FRAGILE RECOVERY ACCORDING TO FANNIE MAE'S ECONOMIC & MORTGAGE MARKET ANALYSIS GROUP
ATTENTION EDITOR BUSINESS DESK WASHINGTON, Mar. 18 /PRNewswire-AsiaNet/ -- Consumer Spending Shows Promise Despite Low Levels Of Consumer Confidence Housing activity is expected to rebound later this year but at a slower pace than previously projected according to the March 2010 Economic Outlook released today by Fannie Mae's (NYSE: FNM) Economics & Mortgage Market Analysis Group. (Thu, 18 Mar 2010 02:32:06 GMT)

Batemon: Feds not likely to pay off loan for Veterans Home
PELL CITY — St. Clair County Commission Chairman Stan Batemon said Monday it’s doubtful a local loan for the construction of the new Veterans Home could be paid off with federal dollars. (Thu, 18 Mar 2010 03:57:32 GMT)

Home loan deductions: Some myth busters
Contrary to popular opinion, there is no overall restriction of Rs 1,50,000 on the interest payable on a loan taken to acquire/construct a house property or in respect of more than one property. (Thu, 18 Mar 2010 05:25:27 GMT)

Townhall Meeting to Raise Homeowners' Concerns Against Practices of Banks in Home Loan Modification and Foreclosure
Homeowners In Action, a local grassroots movement concerned about the lack of fairness and transparency in bank practices, announced today that a town hall meeting will be held at the Martin Luther King, Jr. Library in San Jose on Saturday, March 20, in order to raise homeowners’ concerns against the secretive and ineffective practices of banks in home loan modification and foreclosure. (Thu, 18 Mar 2010 07:01:00 GMT)

GOP: US overstates loan modifications
The Obama administration is inflating the success of programs that prevent foreclosures by skewing data on loan modifications and revising the goals, according to House Republicans. (Thu, 18 Mar 2010 09:28:43 GMT)

Gross mortgage lending fell 6 pct y/y in Feb - CML
British gross mortgage lending fell 6 percent year-on-year to 9.2 billion pounds in February, the Council of Mortgage Lenders said on Thursday. (Thu, 18 Mar 2010 09:44:00 GMT)

Mortgage lending 'up in February'
UK mortgage lending increased in February as the fluctuation in the housing market continues, lenders say. (Thu, 18 Mar 2010 09:49:39 GMT)

Mortgage rates continue to drop
The 30-year fixed mortgage declined for the third week, setting another low in 2010. (Thu, 18 Mar 2010 10:00:00 GMT)

Pay down mortgage or increase savings?
Keep paying on your mortgage to snag the tax benefit and bump up savings with extra cash. (Thu, 18 Mar 2010 10:00:00 GMT)

U.K. Feb. Gross Mortgage Lending Up 6%: CML
U.K. Feb. Gross Mortgage Lending Up 6%: CML (Thu, 18 Mar 2010 10:05:40 GMT)

300 workers protest student-loan legislation
Sallie Mae, which owns the Pioneer Credit Recovery debt collection firm, is raising concerns about student- loan reform legislation that might be packaged with the health care bill in Congress, saying its provisions could lead to lost jobs. (Thu, 18 Mar 2010 11:08:44 GMT)

Mortgage lending up
Mortgage lending recovers in February after January's dip. (Thu, 18 Mar 2010 11:28:42 GMT)

Bankrate: Mortgage Rates Post Mixed Results
Mortgage rates barely budged this week, with the average conforming 30-year fixed mortgage inching lower to 5.07 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.38 discount and origination points. (Thu, 18 Mar 2010 11:30:00 GMT)

Mortgage rates continue to drop
Mortgage rates remain anchored to historically low levels. But fewer borrowers are taking advantage. The benchmark 30-year fixed-rate mortgage fell 1 basis point this week, to 5.07 percent, according to the Bankrate.com national survey of large lenders. (Thu, 18 Mar 2010 11:42:29 GMT)

Pay down mortgage or increase savings?
Dear Debt Adviser, My question is regarding paying off some balance on my mortgage versus putting additional money in the bank. Here are the numbers: I have two home loans. (Thu, 18 Mar 2010 11:43:01 GMT)

RI salon owner sentenced in mortgage fraud case
A Rhode Island salon owner who had faced up to 30 years in prison for participating in a $1.7 million mortgage scam has instead been sentenced to one day behind bars and six months of home confinement. (Thu, 18 Mar 2010 12:02:57 GMT)

Bonyan Closes EGP 185 Million Loan for Designopolis
Bonyan for Development and Trade announced today that it has finalized arrangements for an EGP 185 million syndicated loan to finalize the completion of Designopolis, the first furniture and home accessories mega-mall in the Middle East and North Africa. (Thu, 18 Mar 2010 12:05:39 GMT)

Mortgage Rates Mixed, Says Bankrate
Mortgage Rates Mixed, Says Bankrate (Thu, 18 Mar 2010 12:21:35 GMT)

Freddie Mac: 30-year Mortgage Rate Mostly Flat
Freddie Mac: 30-year Mortgage Rate Mostly Flat (Thu, 18 Mar 2010 14:36:23 GMT)

(AFX UK Focus) 2010-03-18 14:39 Bonyan raises $34 million loan to finish mall
CAIRO, March 18 (Reuters) - Egypt's Bonyan for Development and Trade said on Thursday it had raised 185 million Egyptian pounds ($34 million) in a syndicated loan to complete a furniture and home accessories mall it is building near Cairo. The first phase of the mall, called Designopolis, in Sixth of October City on the western outskirts of Cairo is scheduled to open within three months, Bonyan ... (Thu, 18 Mar 2010 14:42:15 GMT)

Mortgages: 30-year fixed-rate mortgage averages 4.96%
Rates on fixed-rate mortgages moved very little this week, with 30-year fixed-rate mortgages averaging 4.96%, according to the latest Freddie Mac survey of conforming mortgage rates. (Thu, 18 Mar 2010 14:46:26 GMT)

Mortgage rate on 30-year U.S. loans little changed
Mortgage rates in the U.S. were little changed this week as lenders awaited the end of the Federal Reserve's $1.25 trillion program to support the housing market by purchasing securities backed by home loans. (Thu, 18 Mar 2010 15:09:12 GMT)

U.S. mortgage interest rates up slightly
WASHINGTON, March 18 (UPI) -- Average interest rates for 30-year, fixed-rate mortgages rose slightly in the week ending March 18, the U.S. Federal Home Loan Mortgage Corp. said. (Thu, 18 Mar 2010 15:14:05 GMT)

Mortgage rate little changed
Mortgage rates in the U.S. were little changed this week as lenders awaited the end of the Federal Reserves $1.25 trillion program to support the housing market by purchasing securities backed by home loans. (Thu, 18 Mar 2010 15:19:26 GMT)

Classes aid 1st-time home buyers
Working In Neighborhoods is offering free classes to first-time home buyers interested in learning more about mortgages, the loan application process, what to look for during a home inspection, and working with a realtor. The nine-hour certificate class meets the criteria for a first-time home buyer grant and incentive programs such as the American Dream Down Payment Initiative. (Thu, 18 Mar 2010 15:26:44 GMT)

Investigation results in mortgage fraud indictments of two Denver-area men
Two men have been indicted by the federal grand jury in Denver in a mortgage fraud scheme that allegedly scammed financial institutions and commercial mortgage lenders. (Thu, 18 Mar 2010 15:47:58 GMT)

Mortgage rates still below 5 percent
Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at or near record lows. The average rate on a 30-year fixed rate mortgage edged up to 4.96 percent this week... Mortgage - Federal Reserve System - Fixed rate mortgage - Tax rate - Financial Services (Thu, 18 Mar 2010 16:00:35 GMT)

Loan deal close for Robins
Swindon manager Danny Wilson is poised to complete the signing of an unnamed player on loan on Friday. (Thu, 18 Mar 2010 16:26:17 GMT)

Mortgage rates still below 5%
Mortgage rates held below the 5% threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates near record lows. (Thu, 18 Mar 2010 16:37:29 GMT)

Mortgage rate on 30-year U.S. loans little changed
Mortgage rates in the U.S. were little changed this week as lenders awaited the end of the Federal Reserve's $1.25 trillion program to support the housing market by purchasing securities backed by home loans. (Thu, 18 Mar 2010 20:24:33 GMT)

Time Coming For Commercial Mortgage Market To Stand On Its Own
Time Coming For Commercial Mortgage Market To Stand On Its Own (Thu, 18 Mar 2010 21:21:10 GMT)

US mortgage rates still below 5%
Mortgage rates held below the five per cent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at or near record lows. (Thu, 18 Mar 2010 21:24:47 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. (Thu, 18 Mar 2010 22:59:55 GMT)

Home sales dip, prices rise in Bay Area
The volume of Bay Area home sales dipped in February compared with a year ago, while the median price continued to rise, according to a real estate report released on Thursday. "The increase in the median reflects just how odd things were a year ago," said... San Francisco Bay Area - Real estate - California - United States - Metro Areas (Fri, 19 Mar 2010 01:00:20 GMT)

2 Texas Attorneys Indicted in $20 Million Mortgage Fraud Case
Two Texas attorneys are among 40 people indicted in connection with an alleged $20 million mortgage fraud involving 114 houses. The federal indictment alleges that Daniel Ayers and Anthony Flores, who owned and operated Ayers & Flores, were part of a group of real estate agents, property finders, mortgage brokers, escrow officers, property appraisers and "straw buyers" who were solicited to ... (Fri, 19 Mar 2010 03:31:00 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. Yet many others with experience in the field say that, in most cases, a mortgage audit is no bargain at all. “We ... (Fri, 19 Mar 2010 03:40:08 GMT)

Mortgage Fraud Defendant Gets 5-Month Sentence
Family defrauded in mortgage scheme still struggling to get back full ownership of Ewa Beach home. (Fri, 19 Mar 2010 03:44:08 GMT)

Gross mortgage lending fell 6 pct y/y in Feb - CML 
British gross mortgage lending fell 6 percent year-on-year to 9.2 billion pounds in February, the Council of Mortgage Lenders said on Thursday. (Fri, 19 Mar 2010 04:38:00 GMT)

Mortgage lending rose 6pc in February says CML
The latest figures from The Council of Mortgage Lenders showed an increase in lending last month, after a fall in January. (Fri, 19 Mar 2010 06:50:44 GMT)

Home sales dip, prices rise in Bay Area
The volume of Bay Area home sales dipped in February compared with a year ago, while the median price continued to rise, according to a real estate report released on Thursday. "The increase in the median reflects just how odd things were a year ago," said... San Francisco Bay Area - Real estate - United States - California - Metro Areas (Fri, 19 Mar 2010 07:30:19 GMT)

Mortgage rates barely move
Mortgage rates showed little change this week, remaining below 5 percent, according to mortgage giant Freddie Mac .The average 30-year fixed-rate mortgage edged up to 4.96 percent from 4.95 percent last week. The average 15-year, fixed-rate mortgage rose to 4.33 percent from 4.32 percent.The average five-year, adjustable-rate mortgage climbed to 4.09 percent from 4.05 percent, and the average ... (Fri, 19 Mar 2010 09:01:45 GMT)

Woman irked after huge mortgage payment
A borrower who made a $45,000 home mortgage payment is angry with her bank's policies. (Fri, 19 Mar 2010 10:00:00 GMT)

February mortgage-lending peak
Mortgage lending edged higher in February after diving by a third during the previous month, figures showed yesterday. Related Stories Car industry shifts up a gear ahead of budget American body backs exchange scheme Stakes extra high for Darling’s next Budget Pru’s top man drops second job Could Myners be the man M&S is looking for? (Fri, 19 Mar 2010 10:20:49 GMT)

February mortgage-lending peak
Mortgage lending edged higher in February after diving by a third during the previous month, figures showed yesterday. Related Stories Regulator report met with firm criticism Good ‘samaritan’ deal sealed Car industry shifts up a gear ahead of budget American body backs exchange scheme Construction industry facing ‘huge problems’ (Fri, 19 Mar 2010 10:22:09 GMT)

Scope of TopDot Mortgage fraud widens
Included in indictment this week were Joseph Miller; Peter Hartofilis, Robert Hofler, and Steve Vento Four people were added this week to a federal indictment alleging mortgage fraud, widening the scope of the charges to include a Palm Beach Gardens attorney, a former Boca Raton bank vice president, and a Jupiter resident. (Fri, 19 Mar 2010 11:37:58 GMT)

A good case for refinancing
Q. I have a second home worth about $110,000 that has $57,000 remaining principal on a first mortgage at 6.375 percent with 11 years left on the loan. Our primary residence is paid off and worth about $320,000. I’d like... (Fri, 19 Mar 2010 12:13:08 GMT)

Credit scores can drop after getting loan help
Some homeowners who sign up for the government's mortgage assistance program are getting a nasty surprise: Lower credit scores. For borrowers who are making their payments on time but are on the verge of default, the Obama administration's loan modification... (Fri, 19 Mar 2010 15:15:39 GMT)

Government mortgage program may lower credit scores
Some homeowners who sign up for the government's mortgage assistance program are getting a nasty surprise: Lower credit scores. (Fri, 19 Mar 2010 15:18:53 GMT)

NRL struggling to secure home loan, despite code being on upswing
Negotiations between the NRL and banks to secure a loan to build new headquarters have stalled because of the code's 10-year history of near-zero cash balances. (Fri, 19 Mar 2010 16:33:19 GMT)

Home, auto loan rates to go up marginally: Bankers
Bankers said corporate, home and auto loans are expected to be dearer marginally following hike in key rates. RBI statement | Reactions | SBI hints lending rate hike (Fri, 19 Mar 2010 16:56:11 GMT)

Fraudster asked parents to pay back home loan
The ASB bank investment adviser who stole $17.8 million charged his parents interest on an $80,000 loan to move into a retirement home - then asked for the money back when the fraud was discovered. (Fri, 19 Mar 2010 17:41:27 GMT)

Minn. AG says two firms violated state mortgage law
State Attorney General Lori Swanson filed lawsuits today alleging that two companies have violated a new state law that prohibits firms from requesting advance payment when offering to help consumers modify mortgage terms. (Fri, 19 Mar 2010 17:42:39 GMT)

Salem mortgage broker gets 5 years in prison for fraud
FRONT PORCH BLOG: Julian James Ruiz III pleaded guilty to multiple counts of theft, mortgage fraud and tax evasion and was sentenced to 61 months in prison. (Fri, 19 Mar 2010 18:07:13 GMT)

Mom of octuplets may lose California home, mortgage holder says he is foreclosing
LA HABRA, Calif. - Octuplets mom Nadya Suleman could be kicked out of her Southern California home. Mortgage holder Amer Haddadin says he is starting foreclosure proceedings on the $565,000 La Habra residence because the family hasn't kept up the payments. (Fri, 19 Mar 2010 18:56:49 GMT)

Fed Ends Exemption Banks Aimed at Boosting Mortgage Liquidity
The Federal Reserve Board today removed an exemption it had given to six banks at the start of the financial crisis in 2007 aimed at boosting liquidity in financing markets for mortgage and asset-backed securities. (Fri, 19 Mar 2010 19:35:04 GMT)

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