Mortgage News Mar 2010

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Loan Modification: Don't Get Your Hopes Up
Bank of America said it will reduce the debts of some people who are underwater on their mortgages. But the impact of this and other mortgage modification programs will be limited. (Wed, 24 Mar 2010 18:42:18 GMT)

WATCH: Tamra Slagle Shares Mortgage Struggle
Her bill went up $600 per month, but mortgage lender wouldn't modify the loan. (Wed, 24 Mar 2010 18:48:22 GMT)

PMI Leads Mortgage Insurer Rally as BofA Waives Loans (Update1)
PMI Group Inc. led mortgage insurers higher after Bank of America Corp. said it will forgive $3 billion of home loan principal for 45,000 borrowers. (Wed, 24 Mar 2010 18:48:54 GMT)

BofA to start reducing mortgage principal
Bank of America, the nation's largest mortgage lender, announced a program Wednesday to offer homeowners who owe significantly more than their homes are worth the opportunity to have their loan balances reduced. (Wed, 24 Mar 2010 18:56:56 GMT)

Can you still get a 5% mortgage?
There's still time to get a 5% mortgage -- but the window is closing. (Wed, 24 Mar 2010 19:19:59 GMT)

Bank of America to offer home loan write-downs
Under pressure from Massachusetts Attorney General Martha Coakley, Bank of America Corp. on Wednesday said it would offer about $3 billion in loan forgiveness to about 45,000 troubled homeowners. (Wed, 24 Mar 2010 19:32:17 GMT)

Bank of America to reduce mortgage principal for some homeowners
The $3-billion program involves borrowers with certain adjustable-rate loans written by Countrywide Financial, which BofA acquired in 2008. Bank of America Corp. said Wednesday that it would offer to erase $3 billion in principal over a five-year period for homeowners with certain adjustable-rate mortgages written by Countrywide Financial Corp., the aggressive Calabasas mortgage giant that BofA ... (Wed, 24 Mar 2010 20:04:25 GMT)

BofA to start reducing mortgage principal
Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. (Wed, 24 Mar 2010 20:08:44 GMT)

BofA to start reducing mortgage principal
Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. The bank, the largest mortgage servicer in the country, said Wednesday it will forgive up to 30 percent of some customers' total mortgage balance. (Wed, 24 Mar 2010 20:08:44 GMT)

Top tips for mortgage reductions
WITH interest rates increasing again the secret to financial security is making your money work for you. (Wed, 24 Mar 2010 20:14:49 GMT)

Mortgage-Bond Yields That Guide Loans Soar Most Since December
Yields on Fannie Mae and Freddie Mac mortgage securities jumped the most in almost four months as rates on benchmark U.S. government notes soared after a record- tying Treasury auction, signaling rising borrowing costs for new home loans. (Wed, 24 Mar 2010 20:16:44 GMT)

Mortgage Rates Remain Flat; Current 30-Year Fixed Rate is 4.80%
RISMEDIA, March 25, 2010—The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80%, up two basis points from 4.78% compared to this same time last week. The 30-year fixed mortgage rate rose over the weekend, with a Sunday… (Wed, 24 Mar 2010 20:34:03 GMT)

Bank of America to offer home loan write-downs
Bank of America to offer home loan write-downsBank of America to offer home loan write-downs (Wed, 24 Mar 2010 20:59:09 GMT)

Bank of America to Reduce Mortgage Balances
The bank said that it would begin forgiving some mortgage debt of borrowers in danger of losing their homes. (Wed, 24 Mar 2010 21:17:50 GMT)

Summary Box: BofA to reduce mortgage principal
THE PLAN: Beginning in May, some Bank of America customers' total mortgage balance could be reduced up to 30 percent. (Wed, 24 Mar 2010 21:49:11 GMT)

Fitch Ratings Affirms LB-UBS Commercial Mortgage Trust 2003-C1
NEW YORK----Fitch Ratings affirms, assigns Loss Severity ratings and Outlooks to LB-UBS Commercial Mortgage Trust commercial mortgage pass-through certificates, series 2003-C1 as follows: (Wed, 24 Mar 2010 21:50:00 GMT)

BofA to start reducing mortgage principal
Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. (Wed, 24 Mar 2010 22:29:16 GMT)

Bank of America to Reduce Mortgage Balances
Bank of America , under pressure to keep distressed borrowers from losing their homes, said Wednesday that it would begin forgiving some of their mortgage debt, The New York Times’s David Streitfeld and Louise Story report. (Wed, 24 Mar 2010 22:31:08 GMT)

The Fight for the Middle Class: Mortgage Mess
Those in trouble are getting no help from banks. Mortgage - Financial services - Business - Refinancing - Middle Class (Thu, 25 Mar 2010 00:03:22 GMT)

RBA Lowe Says Mortgage Rates Still Below Average
RBA Lowe Says Mortgage Rates Still Below Average (Thu, 25 Mar 2010 00:52:25 GMT)

Walking away from underwater mortgage has consequences
Purposely defaulting on a mortgage may be a very rational personal finance decision, but it's not without major consequences. (Thu, 25 Mar 2010 03:13:06 GMT)

CitiFinancial to pay $1.25 million for mortgage disclosure violations
CitiFinancial, a Baltimore-based consumer finance unit of Citigroup, agreed to pay $1.25 million in penalties for not fully disclosing its mortgage transactions to the federal government, state regulators announced Wednesday. (Thu, 25 Mar 2010 04:00:00 GMT)

New homes sales fall, durable orders up in February
Sales of newly built homes fell for a fourth straight month to a record low in February, but another rise in new orders for durable goods offered assurance the economic recovery was on course. (Thu, 25 Mar 2010 04:10:23 GMT)

BofA Subsidiary Agrees to $3 Billion Home Loan Modification Deal
Massachusetts Attorney General Martha Coakley has brokered a $3 billion loan modification deal with Bank of America subsidiary Countrywide Financial Corp. The settlement builds on Countrywide's 2008 agreement with 43 other state attorneys general and the District of Columbia, which called for Countrywide to modify loans for certain delinquent borrowers and builders. In a statement, Coakley noted ... (Thu, 25 Mar 2010 04:17:51 GMT)

New BofA Plan Will Lower Mortgage Principal
Bank of America launched a new mortgage-modification program that, for the first time, proposes reducing the principal on loans. It's the most ambitious program yet. (Thu, 25 Mar 2010 09:34:32 GMT)

Mortgage rates jump up
Attractive mortgage rates may be ending after weeks of near-record lows. Watch the bond yields. (Thu, 25 Mar 2010 10:00:00 GMT)

Mortgage Rate Trend Index
Each week, Bankrate.com surveys experts to gauge which way interest rates are headed on mortgages. (Thu, 25 Mar 2010 10:00:00 GMT)

SBI may tweak its 8% home loan scheme after Mar 31
Home-loan borrowers may yet have a reason to cheer. (Thu, 25 Mar 2010 10:00:55 GMT)

"Octomom" Given Days to Avoid Foreclosure
Mortgage Holder says Family Defaulted on $450,000 Payment; Porn Company Offers to Pay in Exchange for a Shoot (Thu, 25 Mar 2010 10:12:22 GMT)

SBI may tweak its 8% home loan scheme after Mar 31
State Bank of India, has hinted that it may consider retaining its much-talked-about 8 per cent home loan scheme, albeit with slight modifications in the product (Thu, 25 Mar 2010 10:16:07 GMT)

Is Your Bond Fund Partying Like It's 1993?
Mortgage derivatives are back. The question is whether they are better. (Thu, 25 Mar 2010 11:00:00 GMT)

Bankrate: Mortgage Rates Nudge Higher
Mortgage rates were modestly higher this week, with the average conforming 30-year fixed mortgage rising to 5.11 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.41 discount and origination points. (Thu, 25 Mar 2010 11:30:00 GMT)

Mortgage Rate Trend Index
Will rates rise or remain relatively unchanged? Experts and Bankrate analysts provide their insights. (Thu, 25 Mar 2010 11:42:56 GMT)

Own a Home? Mortgage Help May Be on Way
The Treasury Department today will announce changes to the Obama administration's embattled $75 billion Home Affordable Modification Program (HAMP) to help owners facing foreclosures. Mortgage - Foreclosure - United States Department of the Treasury - Presidency of Barack Obama - United States (Thu, 25 Mar 2010 12:19:55 GMT)

Gov't adds consumer protections in mortgage plan
The Obama administration is enacting protections to ensure homeowners are treated consistently under its mortgage relief program after complaints from consumer advocates. (Thu, 25 Mar 2010 13:51:33 GMT)

Bank of America Will Cut Mortgage Loan Amount for Underwater Homes
Plan comes after Mass. settles with Bank of America-owned Countrywide lender. Bank of America - Bank of America Home Loans - Business - Mortgage - Financial Services (Thu, 25 Mar 2010 14:17:01 GMT)

Will porn and PETA be octomom's latest saviors?
Nadya Suleman's octuplets have brought her plenty of fame, but fortune appears to be another story. Her father, Ed Doud, has defaulted on a $450,000 balloon payment on a half-million dollar house he bought last year for the family to live in, mortgage holder Amer Haddadin said Wednesday. (Thu, 25 Mar 2010 14:25:54 GMT)

HK's new mortgage loans down 10.1 pct in February
Hong Kong's new mortgage loans drawn down in February dropped 1.5 percent to 17.1 billion HK dollars, while new loans approved fell 10.1 percent to 26.6 billion HK dollars, the city's Monetary Authority said Thursday. The drop in approved new loans was due to reductions of 1.5 billion HK dollars or 49.1 percent in primary market transaction approvals and of 1.6 billion HK dollars or 7.2 percent ... (Thu, 25 Mar 2010 14:38:34 GMT)

Long-term mortgage rates rise slightly
WASHINGTON, March 25 (UPI) -- Average interest rates for 30-year, fixed-rate mortgages rose slightly in the week ending March 25, the U.S. Federal Home Loan Mortgage Corp. said. (Thu, 25 Mar 2010 14:49:40 GMT)

Freddie Mac: 30-year Fixed-rate Mortgage Edges Up
Freddie Mac: 30-year Fixed-rate Mortgage Edges Up (Thu, 25 Mar 2010 14:52:45 GMT)

Mortgages: 30-year fixed-rate mortgage remains under 5%
Mortgage rates inch higher, following bond yields, but the 30-year fixed-rate mortgage manages to stay just below the 5% level. (Thu, 25 Mar 2010 15:00:40 GMT)

Fitch Downgrades 8 Classes of Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16
NEW YORK----Fitch Ratings has downgraded and assigned Rating Outlooks, Loss Severity ratings and Recovery Ratings to Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16 commercial mortgage pass-through certificates as follows: (Thu, 25 Mar 2010 15:11:00 GMT)

Mortgage rates inch up but still below 5 percent
Mortgage rates moved slightly higher but remained just below 5 percent this week, as a Federal Reserve program that has maintained rates near record lows prepares to end. (Thu, 25 Mar 2010 15:22:15 GMT)

Mortgage refinancing applications in decline in the United States
The Mortgage Bankers Association in the United States reported on Wednesday that mortgage applications fell by 4.2% for the second week in a row during the week that ended March 19, according to Examiner.com. The biggest decline came in refinancing applications, which dropped by 7.1%. The share of applicants who are refinancing rather than financing a home purchase dropped to 65%. The average ... (Thu, 25 Mar 2010 17:23:03 GMT)

Fitch Takes Action on 4 Empire Home Loan & 2 Keystone Transactions
NEW YORK----Fitch Ratings has downgraded to 'C' 14 classes in four Empire Home Loan and two Keystone Owner Trust residential mortgage backed security transactions listed below. The affected classes have an aggregate balance of approximately $9 million. (Thu, 25 Mar 2010 17:29:00 GMT)

GBP/USD: Trading the Change in U.K. Mortgage Approvals
Mortgage approvals in the U.K. are expected to weaken to an annualized pace of 46.5K in February from 48.2K in the previous month, and the data could weigh on the exchange rate as policy makers continue to see a risk for a protracted recovery. (Thu, 25 Mar 2010 18:38:00 GMT)

SBI may extend teaser home loan
Despite RBI's reservation on teaser scheme, in which banks offer home loan to the new borrowers at lower interest rate than that to the old or existing customers, State Bank of India (SBI) indicated at extending its special home loan scheme beyond March 31. (Thu, 25 Mar 2010 18:52:09 GMT)

Federal Home Loan Bank of Atlanta Declares Fourth Quarter 2009 Dividend
The Board of Directors of Federal Home Loan Bank of Atlanta has approved an annualized dividend rate for the fourth quarter of 2009 of 0.27 percent. The Bank also announced that it will not repurchase activity-based excess capital stock outstanding as of the end of the fourth quarter of 2009. (Thu, 25 Mar 2010 19:52:00 GMT)

Search FT.com
One of the features of the US mortgage market is that homeowners can take out a new mortgage at any point and repay the old one without penalty. Low rates, therefore, are usually accompanied by a refinancing boom as homeowners switch mortgage deals to cut their monthly repayments. (Thu, 25 Mar 2010 20:00:59 GMT)

Half of U.S. Home Loan Modifications Default Again (Update1)
More than half of U.S. borrowers who received loan modifications on delinquent mortgages defaulted again after nine months, according to a federal report. (Thu, 25 Mar 2010 20:01:34 GMT)

SBI may extend teaser home loan beyond Mar
The State Bank of India on Thursday hinted at extending its special home loan scheme, which offers 8% lending rate, with.... (Thu, 25 Mar 2010 20:45:05 GMT)

U.S. expands mortgage program
By Jim Puzzanghera | The Obama administration on Thursday announced changes to its controversial initiative to ease home foreclosures, expanding public outreach and eligibility in response to sharp criticism that the $75 billion program had been ineffective. (Thu, 25 Mar 2010 20:51:05 GMT)

30-year fixed mortgage rates rise slightly
The average rate offered by lenders this week increases to 4.99% from 4.96% last week. The average rate on 15-year fixed loans edges up to 4.34%. Interest rates offered by mortgage lenders edged higher this week, with the typical rate on a 30-year fixed home loan at 4.99%, up from 4.96% last week, Freddie Mac said Thursday in its weekly report. (Thu, 25 Mar 2010 22:34:25 GMT)

Obama to push mortgage help for jobless
The Obama administration plans to overhaul how it's tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments. (Thu, 25 Mar 2010 22:36:15 GMT)

Administration To Expand Mortgage-altering Effort
Administration To Expand Mortgage-altering Effort (Thu, 25 Mar 2010 23:06:35 GMT)

U.S. to require mortgage payment cuts
WASHINGTON, March 25 (UPI) -- The White House is set to announce it will require U.S. lenders to cut or eliminate mortgage payments for unemployed borrowers, officials said Thursday. (Fri, 26 Mar 2010 00:19:27 GMT)

Mortgage relief efforts lagging, Obama to shift gears
WASHINGTON — Fresh on the heels of criticism for its handling of the mortgage crisis, the Obama administration Friday will announce new measures to keep struggling homeowners in their homes, especially those who now owe more than their houses are worth. (Fri, 26 Mar 2010 00:25:00 GMT)

White House to announce housing aid Friday
The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt of homeowners who owe more than their home is worth, sources familiar with the plan said on Thursday. (Fri, 26 Mar 2010 01:44:07 GMT)

U.S. Said to Widen Homeowner Aid, Subsidize Mortgage Reductions
The Obama administration plans to announce programs to help homeowners avoid foreclosure, including subsidies for borrowers who owe more than their home is worth. (Fri, 26 Mar 2010 01:48:29 GMT)

Mortgage aid plan may lower monthly payments for some
Changes to a program for struggling homeowners are expected to tell lenders to temporarily lower mortgage payments for jobless borrowers. (Fri, 26 Mar 2010 01:58:15 GMT)

$1.7 million to help Ariz. fight mortgage scams
Arizona will get nearly $2 million in federal money this year to combat mortgage scammers that experts say helped push the state into a housing bust and can hinder its recovery. (Fri, 26 Mar 2010 02:51:15 GMT)

White House adjusts mortgage relief program
White House adjusts mortgage relief program (Fri, 26 Mar 2010 03:10:47 GMT)

Unemployed and 'underwater' to get mortgage relief
Under fire to do more to stop the foreclosure crisis, the Obama administration will announce Friday new steps to help the unemployed and those who are "underwater" with a bigger mortgage than their home is worth. (Fri, 26 Mar 2010 03:19:59 GMT)

How important is mortgage insurance?
Odds are if you’re paying a mortgage, you’ve received offers for mortgage protection insurance. It comes in several forms, but it typically covers your mortgage if you lose your job or become disabled, or it pays off your mortgage when you die. Would you benefit from mortgage protection insurance? Or is it just another way for your mortgage company to siphon extra money out of your wallet each ... (Fri, 26 Mar 2010 03:55:06 GMT)

Pecan Grove Funeral Home, bank agree to partial settlement on loan claims
Attorneys for Pecan Grove Funeral Home and a bank that is suing it negotiated a partial settlement of their differences Thursday, causing a hearing in 170th State District Court in Waco to be canceled. (Fri, 26 Mar 2010 05:12:49 GMT)

Enhanced mortgage relief on the way
The Obama administration plans to overhaul how it is tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed, senior officials said Thursday. (Fri, 26 Mar 2010 06:37:54 GMT)

Thinking of walking away from your mortgage?
If you own a house that’s now worth a lot less than what you owe on your mortgage, and you’re thinking of walking away, you are not alone. Nearly one-quarter of U.S. mortgages, or about 11 million loans, are “underwater,” i.e. the houses are worth less than the balance of their loans. (Fri, 26 Mar 2010 07:08:48 GMT)

White House to modify home-loan program
The Obama administration on Thursday announced changes to its controversial initiative to ease home foreclosures, expanding public outreach and eligibility in response to sharp criticism that the $75 billion program had been ineffective. Among the changes to... Foreclosure - Presidency of Barack Obama - White House - President - United States (Fri, 26 Mar 2010 07:30:20 GMT)

SBI may tweak 8% home loan scheme after Mar 31
Home-loan borrowers may yet have a reason to cheer. (Fri, 26 Mar 2010 07:31:05 GMT)

Mortgage-relief revisions aim to take it easier on homeowners
After complaints from consumer advocates, the Obama administration is overhauling its mortgage relief program. Among the changes announced by the Treasury Department, mortgage companies will have to evaluate all borrowers who have missed at least two payments to see if they are eligible for the $75 billion program. The companies also must not foreclose until homeowners are found ineligible or ... (Fri, 26 Mar 2010 09:01:42 GMT)

Your mortgage deductions interest the IRS
If you were one of the eager buyers during the housing boom who purchased with a "no income verification" mortgage, or if you tapped cash when lenders let you use your home as an ATM, you're lucky if you have been able to stretch your budget to meet mortgage payments. (Fri, 26 Mar 2010 11:43:23 GMT)

PRESS RELEASE: Fitch: Business Mortgage Finance Series
PRESS RELEASE: Fitch: Business Mortgage Finance Series (Fri, 26 Mar 2010 11:52:55 GMT)

Is a Short Sale Right for You?
Home prices have dropped as much as 50% in some parts of the country, and many readers in those areas keep asking what they can do to stop the bleeding? In my last article, I described various strategies available to lower your monthly mortgage payments. But what options do you have if you are so far underwater that refinancing is not feasible and you are desperate to get out from under? The ... (Fri, 26 Mar 2010 12:08:46 GMT)

Credit union files suit over mortgage tax
A local credit union has sued New York state, claiming federally chartered credit unions and their customers should not have to pay a "mortgage recording tax" when they loan or borrow money for their homes. (Fri, 26 Mar 2010 12:11:28 GMT)

White House expanding mortgage-relief program
The Obama administration lays out adjustments to be made in its $75 billion mortgage-modification program, with the aim of assisting a greater number of unemployed homeowners avoid foreclosure. (Fri, 26 Mar 2010 12:45:50 GMT)

Obama expands mortgage modification effort
Under fire to do more to stop the foreclosure crisis, the Obama administration announced new mortgage modification steps on Friday to help the unemployed and those who are "underwater" with a bigger loan than their home is worth. (Fri, 26 Mar 2010 13:05:09 GMT)

How To Have A Pre-Approved Mortgage Loan In Buying A Home In Boca Raton Real Estate
There are many people who want to own a home but do not have enough money to buy one. But if you really want to get a home of your own, there are heaps of ways on how to get one. (Fri, 26 Mar 2010 13:37:37 GMT)

Attorney General beefs up fight against mortgage fraud
U.S. Attorney General Eric Holder delivered more resources to fight mortgage fraud in Arizona and across the nation Thursday, saying $8 million will be used to beef up investigation teams this spring. (Fri, 26 Mar 2010 14:03:21 GMT)

Californians may have to pay tax on canceled mortgage debt
An estimated 35,000 California taxpayers may be left owing state tax for 2009 on something the federal government does not consider taxable. (Fri, 26 Mar 2010 14:20:58 GMT)

Obama housing plan seeks to reduce mortgage debt
The Obama administration on Friday announced a $14 billion effort to try to stem a rising tide of home foreclosures by giving lenders incentives to erase some mortgage debt and slash mortgage payments for the unemployed. (Fri, 26 Mar 2010 14:42:35 GMT)

Mortgage Insurers Surge On Obama Modification Plan
Mortgage Insurers Surge On Obama Modification Plan (Fri, 26 Mar 2010 15:36:35 GMT)

Paralegal Sentenced in Manhattan Federal Court to Three Years in Prison for Role in Multimillion-Dollar Mortgage Fraud ...
NEW YORK, March 26 /PRNewswire-USNewswire/ -- Preet Bharara, the United States Attorney for the Southern District of New York, announced that Marina Dubin, a real estate paralegal, was sentenced yesterday to two concurrent three-year prison sentences in connection with her involvement in a multimillion-dollar, sub-prime mortgage fraud scheme and another foreclosure rescue scheme. Dubin, 33, of ... (Fri, 26 Mar 2010 15:53:00 GMT)

Obama Mortgage Bailouts Get Boost After Criticism
With the country's foreclosure crisis worsening, the Obama administration today announced sweeping changes to their embattled $75 billion mortgage modification program in an effort to help struggling keep their homes. The changes come amidst increasing criticism for the program, which has been blasted by Democrats, Republicans, and non-partisan government watchdogs. The administration wants to ... (Fri, 26 Mar 2010 16:16:42 GMT)

Mortgage relief for unemployed borrowers
The Obama administration announced new ways Friday to tackle the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed.Washington Post staff writer Renae Merle, and Andrew Jakabovics, Associate Director for Housing and Economics at the Center for American Progress, took questions on the proposal and ... (Fri, 26 Mar 2010 17:00:00 GMT)

U.S. Plans Big Expansion in Effort to Aid Homeowners
The Obama administration on Friday announced broad initiatives to provide more assistance to homeowners who are behind on their mortgage or owe more than their house is worth. (Fri, 26 Mar 2010 17:13:07 GMT)

New Mortgage-Aid Plan Still Fails Consumers
President Obama's mortgage-relief program fell short on many fronts. (Fri, 26 Mar 2010 18:00:55 GMT)

Enhanced mortgage relief on the way
WASHINGTON - The Obama administration plans to overhaul how it is tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed, senior officials said Thursday. (Fri, 26 Mar 2010 19:36:25 GMT)

US govt unveils $14 bn plan to cut mortgage debt
US govt unveils $14 bn plan to cut mortgage debtUS govt unveils $14 bn plan to cut mortgage debt (Fri, 26 Mar 2010 19:59:39 GMT)

Answers to questions about new mortgage aid plan
The Obama administration on Friday announced a major reworking of its troubled $75 billion plan to prevent foreclosures. The revamped program is now designed to aid jobless homeowners and people who owe more on their mortgages than their homes are worth. Here'... Mortgage - Foreclosure - Presidency of Barack Obama - Business - United States (Fri, 26 Mar 2010 21:15:40 GMT)

New mortgage plan still has holes, White House concedes
WASHINGTON — The White House Version 2.0 mortgage-relief plan announced on Friday is a recognition that the moribund housing sector poses a grave threat to the nation's economic recovery. By the administration's own admission, however, the effort may save at best only a third of the homes facing foreclosure in coming years. (Fri, 26 Mar 2010 21:58:00 GMT)

Take two: Gov't tries new fix for mortgage crisis
The government's bold new plan to stem the foreclosure crisis aims to succeed where previous efforts have fallen flat. Yet just as before, the odds are long, and many struggling borrowers won't qualify. In theory, the effort unveiled Friday would help... Foreclosure - Subprime mortgage crisis - Business - Mortgage - Real estate (Fri, 26 Mar 2010 22:29:59 GMT)

Fed tweaks mortgage help
The federal government Friday tweaked its mortgage programs aimed at helping struggling homeowners, focusing on the unemployed and those who owe more than their home is worth. (Fri, 26 Mar 2010 22:37:01 GMT)

Principal reductions might help mortgage crisis
The rules changed dramatically this week, bringing the possibility of principal reductions to the forefront. One week ago, if you owed more than your house was worth, you couldn't refinance your mortgage (unless you had a bucket of cash to bring to the table). You also would have to be very lucky to convince your lender to reduce your debt, if you needed a loan modification. (Fri, 26 Mar 2010 22:53:50 GMT)

Personal Finance Daily: Don't get excited about mortgage-modification plan
If you’re unemployed for a long time, as so many are these days, a mortgage modification is not going to help for long.. (Fri, 26 Mar 2010 23:00:40 GMT)

Obama home-foreclosure relief: Do I qualify for a mortgage refinance?
Here's a look at who qualifies for a mortgage refinance under President Obama's new home-foreclosure relief plan. (Fri, 26 Mar 2010 23:14:11 GMT)

Answers to Questions About New Mortgage Aid Plan
Answers about how the new foreclosure-prevention plan will work and who will benefit Foreclosure - Business - Real estate - Mortgage - Federal Housing Administration (Fri, 26 Mar 2010 23:17:01 GMT)

Obama housing plan seeks to reduce mortgage debt
The Obama administration on Friday announced a $14 billion effort to try to stem a rising tide of home foreclosures by giving lenders incentives to erase some mortgage debt and slash mortgage payments for the unemployed. (Fri, 26 Mar 2010 23:46:33 GMT)

U.S. revamps program to aid those in mortgage trouble
U.S. revamps program to aid those in mortgage trouble (Sat, 27 Mar 2010 02:13:55 GMT)

New mortgage relief plan could help Inland area, experts say
In yet another push to halt the flood of foreclosures, the Obama administration Friday unveiled a plan that for the first time would temporarily lower mortgage payments for some unemployed homeowners and provide incentives for lenders to reduce mortgage balances. (Sat, 27 Mar 2010 02:58:47 GMT)

Why mortgage lenders charge overages, and why they may stop
Bank of America earlier this year delivered the following message to its loan officers: "Policy Change: Effective with initial locks on or after Jan. 21, 2010, overages will not be allowed on either purchase or refinance transactions." (Sat, 27 Mar 2010 04:00:00 GMT)

Mortgage interest rates continue to rise
Mortgage interest rates rose for a second consecutive week as property sales showed falling demand for homes. (Sat, 27 Mar 2010 04:00:00 GMT)

Broker charged, accused of mortgage refinancing swindle
The owner of a loan brokerage business in Mulberry is accused of swindling a client of $35,000 that the client was owed from a refinanced mortgage. (Sat, 27 Mar 2010 06:12:10 GMT)

White House offers new mortgage aid plan
The Obama administration unveiled new measures Friday aimed at getting lenders to reduce the principal balances on problem mortgages and to refinance "underwater" borrowers who owe more than their homes are worth with government-sponsored loans. (Sat, 27 Mar 2010 08:26:11 GMT)

New home loan plan :It's aimed to help jobless, those who owe more than house worth.
WASHINGTON -- Under pressure to stem the foreclosure crisis, the Obama administration launched a plan Friday to reduce the amount some troubled borrowers owe on their home loans and give jobless homeowners a temporary break. (Sat, 27 Mar 2010 11:04:04 GMT)

USEC, Areva each could get loan guarantees
What looked to be a two-company race between USEC's American Centrifuge project in Piketon and French-based Areva's Idaho enrichment project for a $2 billion federal loan guarantee might end with both projects taking home the prize. (Sat, 27 Mar 2010 11:41:27 GMT)

Canara Bank enters reverse mortgage
Canara Bank has introduced a new retail lending product, Canara Jeevan , a reverse mortgage loan scheme for senior citizens. (Sat, 27 Mar 2010 18:35:57 GMT)

Answers to questions about new federal mortgage relief
The Obama administration on Friday announced new provisions to the Making Home Affordable program designed to assist unemployed homeowners who can't make their mortgage payments, underwater homeowners who owe more on their loans than their homes are worth, and those behind on their payments and seeking loan modifications. (Sat, 27 Mar 2010 19:04:19 GMT)

Experts expect mortgage rates to climb
The Patriot Ledger’s economic advisory panel say it’s a safe bet that interest rates will start heading upward again after the Federal Reserve ends its campaign of buying mortgage-backed securities on April 1. (Sat, 27 Mar 2010 19:27:56 GMT)

Local bank halts mortgage loans
Beach First Bank, which has several locations throughout the Grand Strand tells NewsChannel 15 that they will no longer offer mortgage loans. (Sat, 27 Mar 2010 23:13:42 GMT)

Money Helpdesk: Take care when borrowing back mortgage overpayments
IHAVE an interest-only mortgage to which I can make overpayments at any time, without incurring a penalty. (Sun, 28 Mar 2010 00:16:45 GMT)

The Launching of Idaho Home Buyer Site
Boise - Idaho loan officer Corey Chase, a specialist in Idaho home loans in Boise, sees an increase in market share for websites that attract buyers to be able to get up to date Idaho Home Buyer information. (Sun, 28 Mar 2010 00:54:51 GMT)

PMI Leads Mortgage Insurer Rally as BofA Waives Loans (Update2)
March 24 (Bloomberg) -- PMI Group Inc . led mortgage insurers higher after Bank of America Corp. said it will forgive $3 billion of home loan principal for 45,000 borrowers. (Sun, 28 Mar 2010 01:12:52 GMT)

Mortgage-Bond Yields That Guide Loans Soar Most Since December
March 24 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities jumped the most in almost four months as rates on benchmark U.S. government notes soared after a record- tying Treasury auction, signaling rising borrowing costs for new home loans. (Sun, 28 Mar 2010 01:27:24 GMT)

Woman Convicted Of Mortgage Fraud
A 47-year-old Tyler woman was sentenced to 18 months in federal prison on Wednesday for a mortgage fraud scheme. (Sun, 28 Mar 2010 03:24:22 GMT)

Half of U.S. Home Loan Modifications Default Again (Update1)
March 25 (Bloomberg) -- More than half of U.S. borrowers who received loan modifications on delinquent mortgages defaulted again after nine months, according to a federal report. (Sun, 28 Mar 2010 03:51:22 GMT)

Mortgage pools need some sunshine
This month, the Federal Home Loan Bank of San Francisco sued a throng of Wall Street companies that sold the agency $5.4 billion in residential mortgage-backed securities during the height of the mortgage melee. (Sun, 28 Mar 2010 03:54:22 GMT)

Regional banks report increase in '09 mortgage lending
A handful of south-central Idaho banks reported one of theirbest years on record in 2009 for mortgage lending, fueled primarilyby low interest rates and homebuyer incentives. (Sun, 28 Mar 2010 05:56:25 GMT)

Mortgage rates climb but remain below 5%
Mortgage rates moved slightly higher but remained just below 5 percent last week, as a Federal Reserve program that has maintained rates near record lows prepares to end. (Sun, 28 Mar 2010 07:09:56 GMT)

How important is mortgage insurance?
Mortgage insurance is It's simply life insurance that pays your mortgage if a certain event, such as death, disability or job loss occurs. (Sun, 28 Mar 2010 07:12:25 GMT)

Who will be helped and how by revised mortgage program
The Obama administration on Friday announced a major reworking of its troubled $75 billion plan to prevent foreclosures. The revamped program is now designed to aid jobless homeowners and people who owe more on their mortgages than their homes are worth. (Sun, 28 Mar 2010 07:32:56 GMT)

Bahrain mortgage market reaches $1.4bn
28 March 2010 MANAMA: The size of the mortgage market in Bahrain reached $1.4 billion by the end of last month, making it one of the comparatively stable realty markets in the GCC (Gulf Cooperation Council). (Sun, 28 Mar 2010 08:05:46 GMT)

Bill requiring mortgage mediation passes in House
Maryland lawmakers passed a bill Saturday to require mediation between borrowers facing foreclosure and their mortgage lenders. The bill requires an application for loan modification to be sent to all homeowners 45 days before a foreclosure action is filed. It must include information on programs and counseling help. Homeowners also would not give up any rights to challenge the foreclosure when ... (Sun, 28 Mar 2010 08:19:02 GMT)

What You Need To Know About Obama's New Mortgage Aid Plan
WASHINGTON – The Obama administration on Friday announced a major reworking of its troubled $75 billion plan to prevent foreclosures. The revamped program is now designed to aid jobless homeowners and people who owe more on their mortgages than their homes are worth. (Sun, 28 Mar 2010 19:45:09 GMT)

Mortgage default in Australia: nature, causes and social and economic impacts
Creator:  Mike Berry Creator:  Tony Dalton Creator:  Anitra Nelson This report presents and analyses primary data gathered from a survey of defaulting mortgagors and a number of follow-up interviews, in order to better understand the factors mainly responsible for borrowers falling into mortgage repayment difficulties. Social Policy (Sun, 28 Mar 2010 20:04:58 GMT)

Taxpayer-funded mortgage assistance makes profit for claimants
Millions of pounds of taxpayers’ money will be used to overpay mortgages after the Chancellor extended the Government’s mortgage rescue scheme for another six months at a fixed rate of 6.08 per cent. (Sun, 28 Mar 2010 21:06:35 GMT)

Answers about how Obama's mortgage aid plan works
A look at the details of the Obama administration's revamped program to prevent home foreclosures. (Mon, 29 Mar 2010 00:01:32 GMT)

Expanded mortgage aid should cut foreclosures
The Obama administration's revamped mortgage program may help more borrowers keep their homes and avert drastic price drops from foreclosures. (Mon, 29 Mar 2010 00:01:57 GMT)

New home sales drop
New home sales slide, as rising interest rates and the end of the housing stimulus deterred buyers. Victoria, though, posted a big jump in turnover. (Mon, 29 Mar 2010 01:10:38 GMT)

Mortgage Modification Program: 12 Million Households 'At-Risk'
What's Your Reaction? Friday's announcement that the administration is overhauling its mortgage modification program to encourage principal forgiveness shows they understand that unless folks have equity in their homes, mortgage defaults will continue in huge numbers. (Mon, 29 Mar 2010 01:29:29 GMT)

How can I decide whether refinancing my mortgage is right for me?
Mortgage rates are at historic lows, making the option of refinancing your home loan more popular for many reasons ranging from trimming your payment to reducing your interest costs. Before deciding to take the plunge, consider how long you plan to live in the house to see whether you can recover the costs associated with refinancing before selling it. Members of the Financial Planning ... (Mon, 29 Mar 2010 02:14:13 GMT)

Californians may have to pay tax on canceled mortgage debt
Federal law spares sellers any tax on debt canceled in a short sale, foreclosure or loan modification. But state law has not been extended to apply to mortgage debts canceled in 2009. (Mon, 29 Mar 2010 03:28:15 GMT)

Mortgage-banking veteran Bott leads FHA foreclosure-prevention effort
Vicki Bott hastily uprooted her husband, their three children, two dogs and a motor home from Austin to join the Federal Housing Administration six months ago and helped unveil the Obama administration's plan to revamp its faltering foreclosure-prevention efforts last week. (Mon, 29 Mar 2010 04:00:00 GMT)

Mortgage approvals hit 9-month low 
Mortgage approvals fell to their lowest level in nine months in February, Bank of England figures showed on Monday, in another sign that the recovery in the housing market is stalling. (Mon, 29 Mar 2010 09:08:00 GMT)

Mortgage Approvals At Nine-Month Low
British mortgage approvals fell to their lowest level in nine months in February. (Mon, 29 Mar 2010 09:30:54 GMT)

UK mortgage approvals fall to nine-month low
British mortgage approvals fell to their lowest level in nine months in February, Bank of England figures showed on Monday, in another sign that the recovery in the housing market is stalling. (Mon, 29 Mar 2010 09:38:14 GMT)

(AFX UK Focus) 2010-03-29 10:21 UPDATE 1-UK mortgage approvals hit 9-month low in Feb
LONDON, March 29 (Reuters) - British mortgage approvals fell to their lowest level in nine months in February, Bank of England figures showed on Monday, in another sign that the recovery in the housing market is stalling. The Bank of England said mortgage approvals numbered 47,094 in February, down from 48,099 in January and well below the figure of almost 60,000 reached in November when people ... (Mon, 29 Mar 2010 09:43:36 GMT)

U.K. Mortgage Approvals Declined to Nine-Month Low (Update3)
U.K. mortgage approvals unexpectedly fell to a nine-month low in February, adding to signs that credit constraints are impeding the housing market’s recovery. (Mon, 29 Mar 2010 09:56:07 GMT)

Bank Makes Commitment To Loan Program
ORLANDO, Fla. — The Independent Community Bankers of America (ICBA) appreciates ICBA member First Dakota National Bank, Yankton, for making a significant commitment of loan capital to support the ICBA iHELP program as an originating lender. ICBA iHELP is a low-cost, private lending program that will help community bank customers achieve their higher-education goals. Launched in November 2009 ... (Mon, 29 Mar 2010 09:58:46 GMT)

Tenet appoints ex-Mortgage Next MD Gemma Harle
Harle will be responsible for TenetLime’s mortgage, protection and general insurance offering and the delivery of its new partnership approach, working with both appointed representative and directly-authorised advisers. (Mon, 29 Mar 2010 09:59:12 GMT)

Vanished equity will sink refinance hopes
Great credit won't boost the chances of a refinance if a borrower has no equity. (Mon, 29 Mar 2010 10:00:00 GMT)

Company Says 3.3 Million Student Loan Records Stolen
Data on 3.3 million borrowers was stolen from a nonprofit company that helps with student loan financing. (Mon, 29 Mar 2010 11:10:08 GMT)

Nonprofit company says 3.3 million student loan records stolen
Data on 3.3 million borrowers was stolen from a nonprofit company that helps with student loan financing. The theft occurred on March 20 or 21 from the headquarters of Educational Credit Management Corp. (ECMC), which services loans when student borrowers enter bankruptcy. The data was contained on portable media, said the organization, which is a dedicated guaranty agency for Virginia, Oregon ... (Mon, 29 Mar 2010 11:30:20 GMT)

Company Says 3.3 Million Student Loan Records Stolen
Data on 3.3 million borrowers was stolen from a nonprofit agency that helps with student-loan financing. (Mon, 29 Mar 2010 11:40:12 GMT)

Mortgage lending falls to nine-month low, Bank of England figures show
Homebuyer mortgage approvals fell for the third month in a row, continuing the current slowdown in the property market. (Mon, 29 Mar 2010 11:41:20 GMT)

Discount points on home purchase
Do the math before deciding whether to pay discount points when you buy a home. (Mon, 29 Mar 2010 11:43:34 GMT)

Company says 3.3M student loan records stolen
IDG News Service - Data on 3.3 million borrowers was stolen from a nonprofit company that helps with student loan financing. The theft occurred on March 20 or 21 from the headquarters of Educational Credit Management Corp. (ECMC), which services loans when student borrowers enter bankruptcy. (Mon, 29 Mar 2010 11:57:34 GMT)

ConsumerFinanceReport.com Announces Site Enhancement with Addition of a Suite of Mortgage Payment Calculators and ...
ConsumerFinanceReport.com introduces new set of financial tools designed to help consumers easily identify optimum mortgage refinancing and payment scenarios (Mon, 29 Mar 2010 12:00:00 GMT)

Company says 3.3 million student loan records stolen
Data on 3.3 million borrowers was stolen from a nonprofit company that helps with student loan financing. (Mon, 29 Mar 2010 12:02:59 GMT)

Mortgage approvals fall
But there is good news for borrowers. According to the figures, the average rate on mortgages advanced in February fell to 3.83%, from 3.90% in January, and has declined each month from 4.34% last August. The largest falls have been on shorter-term fixed rates. (Mon, 29 Mar 2010 12:05:40 GMT)

U.K. Mortgage Approvals Slump to Nine-Month Low, Making Case for More QE.
U.K. mortgage approvals unexpectedly fell to 47,100 against expectations for a rise to 48,400 from 48,100 the month prior. It was the lowest number of new loans in nine months as banks continue to employ tight lending standards. (Mon, 29 Mar 2010 12:23:00 GMT)

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