Mortgage News Apr 2010

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What is the near-term future of mortgage rates?
Mortgage rates have been hovering slightly above their historic lows so far this year, and many potential homebuyers are wondering about their near-term direction and whether this is the time to make a ... (Thu, 01 Apr 2010 00:39:49 -0700)

Russian Mortgage Loans Plunged 77% Last Year, Bank Rossii Says
April 1 (Bloomberg) -- Russian mortgage lending plunged 77 percent in 2009 from the previous year, almost matching the level reached in 2006, even as signs of economic recovery became evident in the second half, the central bank said. (Thu, 01 Apr 2010 02:57:06 -0700)

Fair Home Loan Bureau Announces Home Loan Modification Attorneys Ensure the Utmost Success
FT. LAUDERDALE, FL--(Marketwire - 04/01/10) - The Fair Home Loan Bureau, a leading advocate of consumer rights, has announced that homeowners facing foreclosure, or falling behind on their mortgage payments, should retain a skilled attorney for bank loan modification . Such an expert can help ensure that homeowners are provided with all the benefits of the mortgage modification process. Many ... (Thu, 01 Apr 2010 03:00:00 -0700)

Mortgage Rate Trend Index
Each week, Bankrate.com surveys experts to gauge which way interest rates are headed on mortgages. (Thu, 01 Apr 2010 03:00:00 -0700)

Mortgage rates skyrocket
Despite low rates, home sales have declined. Will they pick up before the homebuyer tax credit ends? (Thu, 01 Apr 2010 03:00:00 -0700)

Fair Home Loan Bureau Announces Home Loan Modification Attorneys Ensure the Utmost Success
Fair Home Loan Bureau Has Today Announced That Homeowners Seeking Mortgage Loan Modification Should Retain a Skilled Attorney to Engender the Best Chance of Success (Thu, 01 Apr 2010 03:16:22 -0700)

Meeting addresses home loan troubles
Elizabeth Admire requested a home loan modification from the loan-servicing department of a national bank after her husband, Rick, developed terminal cancer. (Thu, 01 Apr 2010 03:23:03 -0700)

Mortgage rates skyrocket
Mortgage rates skyrocketed this week. The benchmark 30-year fixed-rate mortgage soared 12 basis points this week, to 5.23 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 01 Apr 2010 04:42:00 -0700)

County Home Improvement Loan Program
Burlington County receives an allocation of Community Development Block Grant funds each year from the Federal government. The Board of Chosen Freeholders has designated a portion of these funds to be made available through the Home Improvement Loan Program, which is administered by the Department of Economic Development. The Home Improvement Loan Program provides technical assistance to ... (Thu, 01 Apr 2010 06:39:23 -0700)

Mortgage-Bond Yields That Guide Loan Rates Rise to 3-Month High
April 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities rose to the highest since the end of last year, after the conclusion yesterday of the Federal Reserves unprecedented purchase of the debt. (Thu, 01 Apr 2010 07:17:33 -0700)

Freddie Mac: 30-year Mortgage Rate Rises Above 5%
Freddie Mac: 30-year Mortgage Rate Rises Above 5% (Thu, 01 Apr 2010 08:05:32 -0700)

Mortgage rates rise to 5.08%
Government bond purchases ended yesterday. (Thu, 01 Apr 2010 08:22:42 -0700)

This just in
Sam Hansen Gaylord-Hansen Mortgage Group The home lending environment has changed considerably in the past year. If you haven't noticed the financing process, whether buying or refinancing, it's gotten more complicated. Virtually every loan requires full documentation and full disclosure, so having an experienced loan origination team is key to successful closings. Gaylord-Hansen was formed in ... (Thu, 01 Apr 2010 09:39:54 -0700)

Mortgage-Bond Yields That Guide Loan Rates Rise to 3-Month High
April 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide home-loan rates rose to the highest in more than three months, after the Federal Reserve ended its unprecedented purchases of the debt yesterday. (Thu, 01 Apr 2010 10:02:40 -0700)

Mortgage rates near year's high
Freddie Macs weekly mortgage survey says 30-year fixed-rate mortgage (FRM) averaged 5.08 percent with an average 0.7 point for the week ending April 1, 2010, up from last week when it averaged 4.99 percent. Last year at this time, the... (Thu, 01 Apr 2010 10:12:18 -0700)

Will the government's affordable mortgage modification program work?
Certain parts of the US have been hit harder than others, but there are many people who currently owe quite a bit more on their homes than they are worth. (Thu, 01 Apr 2010 10:41:06 -0700)

Rise in Mortgage Rates No Surprise
Mortgage rates hit their highest levels since January this week as the Federal Reserve stopped buying mortgage-backed securities, but there's reason to think the housing market will be okay. (Thu, 01 Apr 2010 11:00:45 -0700)

Mortgage Rates on 30-Year U.S. Loans Rise to 5.08%
April 1 (Bloomberg) -- U.S. mortgage rates climbed to the highest level in almost three months as the Federal Reserve ended a program that helped cut borrowing costs for homebuyers. (Thu, 01 Apr 2010 11:07:25 -0700)

Our view on foreclosures: Get out of the business of mortgage modifications
Obama's housing plan helps irresponsible lenders and borrowers. (Thu, 01 Apr 2010 11:21:29 -0700)

SBI extends teaser home loan plan till April 30
SBI has merged the two loan categories and reduced the spread to uniform 1.75 per cent. State Bank of India's borrowers may have to pay a tad higher interest under its dual-rate home loan scheme, which has been extended to April 30 this year. The bank is the only lender to extend the scheme. (Thu, 01 Apr 2010 11:39:16 -0700)

Jurors weigh fate of man accused of massive mortgage fraud scheme
A federal jury began deliberations Thursday to decide whether disbarred Bothell attorney Robert Ernest Brandt is guilty of conspiracy and wire fraud in connection with a massive mortgage fraud case that led to dozens of foreclosures and millions in losses to lenders. (Thu, 01 Apr 2010 11:45:14 -0700)

Fed ends mortgage-buying binge. April Fool?
On Wednesday, the Federal Reserve officially exited the mortgage-backed securities market, winding down a $1.25 trillion spending spree aimed at stabilizing the U.S. housing market. April Fool? With the housing market still incredibly weak, and mortgage rates expected to head higher, I have to question whether it will be a true exit -- or a revolving door. The goal of the Fed's intervention was ... (Thu, 01 Apr 2010 12:05:14 -0700)

Long-term mortgage rates rise
WASHINGTON, April 1 (UPI) -- Average interest rates for 30-year, fixed-rate mortgages rose in the week ending April 1, the U.S. Federal Home Loan Mortgage Corp. said Thursday. (Thu, 01 Apr 2010 12:19:29 -0700)

Gateway Funding Diversified Mortgage Services L.P. Announces New Mortgage Programs
Philadelphia - Gateway Funding Diversified Mortgage Services, L.P., a full service mortgage banker that focuses on a value-oriented philosophy, has announced the launch of the Gateway Funding First Step Pre-Approval Program. (Thu, 01 Apr 2010 12:40:51 -0700)

Mortgage-Bond Yields That Guide Loan Rates Rise to 3-Month High
April 1 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide home-loan rates rose to the highest in more than three months, after the Federal Reserve ended its unprecedented purchases of the debt yesterday. (Thu, 01 Apr 2010 15:22:28 -0700)

New mortgage rules drive demand for broker services
With interest rates climbing and new rules that crack down on who qualifies for a mortgage, first-time homebuyers are having to look harder for their first mortgage, meaning brokers' services are in demand, members of the profession say. (Fri, 02 Apr 2010 04:59:42 -0700)

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. (Fri, 02 Apr 2010 05:35:38 -0700)

Icahn buys the mortgage on Trump's Atlantic City casinos
Carl Icahn has bought the remaining half of the $500 million mortgage on the three Trump Entertainment Resorts casinos he's trying to buy out of bankruptcy. (Fri, 02 Apr 2010 06:33:09 -0700)

Icahn now owns whole mortgage on Trump casinos
Carl Icahn has bought the remaining half of the $500 million mortgage on the three Trump Entertainment Resorts casinos he's trying to buy out of bankruptcy. He also won a $10 million interest payment in the transaction. The billionaire investor, who... Carl Icahn - Trump Entertainment Resorts - Donald Trump - Bankruptcy - Business (Fri, 02 Apr 2010 06:44:59 -0700)

Icahn now owns entire mortgage on Trump's three Atlantic City casinos
ATLANTIC CITY Carl Icahn has bought the remaining half of the $500 million mortgage on the three Trump Entertainment Resorts casinos he's trying to buy out of bankruptcy. Mark Lennihan/AP PhotoBillionaire investor Carl Icahn, seen in this 2007 file... (Fri, 02 Apr 2010 06:47:22 -0700)

Mortgage-bond yields that guide loan rates rise
Yields on Fannie Mae and Freddie Mac mortgage securities that guide home-loan rates rose to the highest in more than three months, after the Federal Reserve ended its unprecedented purchases of the debt Wednesday. (Fri, 02 Apr 2010 06:57:42 -0700)

Icahn Now Owns Entire Mortgage on Trump Casinos
The billionaire investor Carl C. Icahn has bought the remaining half of the $500 million mortgage on the three Trump Entertainment Resorts casinos that he is trying to buy out of bankruptcy, The Associated Press reports . He also won a $10 million interest payment in the transaction. (Fri, 02 Apr 2010 07:16:18 -0700)

Jumpstart your loan mod
For the millions of Americans facing the possibility that sometime over the next 12 months they will lose their home, the one big idea put forth by the government and lenders to keep this awful inevitability from happening is the loan modification. (Fri, 02 Apr 2010 07:20:56 -0700)

Mortgage rates on 30-year loans rise to 5.08 percent
U.S. mortgage rates climbed to the highest level in almost three months as the Federal Reserve ended a program that helped cut borrowing costs for homebuyers. (Fri, 02 Apr 2010 08:14:27 -0700)

Homebuyers' pain, mortgage brokers' gain as tighter rules come into place
VANCOUVER, B.C. - The same things that are squeezing first-time homebuyers these days are creating a boom for mortgage brokers. (Fri, 02 Apr 2010 08:36:00 -0700)

Financial company Xceed Mortgage says HSBC Financial has sued the company in an Ontario court
TORONTO - Xceed Mortgage Corp. (TSX:XMC), a Toronto-based mortgage lender, says it has been served with a statement of claim filed by HSBC (Fri, 02 Apr 2010 08:52:29 -0700)

Carl Icahn Buys Mortgage on Trump Casinos
Billionaire Investor Gets Remaining Half of $500M Mortgage as He Tries to Buy Casinos Out of Bankruptcy (Fri, 02 Apr 2010 09:30:07 -0700)

Borrowers must make sure that prior, paid-off mortgages get released 'of record'
In this topsy-turvy world of mortgage financings, refinancings, bank failures, short sales and multiple mortgage assignments, borrowers often overlook the last step in these transactions, which could come back to haunt them. That last step is getting the prior, paid-in-full mortgage released "of... (Fri, 02 Apr 2010 14:58:15 -0700)

FBI, state raid Scottsdale mortgage modification firm
Firm says it's cooperating after FBI, attorney general serve warrants at Discount Mortgage Relief. (Fri, 02 Apr 2010 15:27:19 -0700)

Palladium Portfolio Company Wise Foods Receives The M&A Advisor's 'Refinancing of the Year' Award
Wise Foods, Inc. , one of the largest manufacturers of potato chips and salty snacks on the eastern seaboard, today announced that it has been awarded The M&A Advisor's 2010 "Refinancing of the Year" award for the successful refinancing of its credit facilities in 2009. (Fri, 02 Apr 2010 15:43:00 -0700)

Bank helps make mortgage a little less taxing
BANK of Scotland today launches a mortgage deal offering home-buyers half the cost of their annual council tax bill. (Fri, 02 Apr 2010 16:02:36 -0700)

Spotlight: Leeds BS five-year fixed rate mortgage
Leeds Building Society has launched a new five-year, fixed-rate mortgage at 4.59 per cent. There is no higher lending charge and you can pay off up to 10 per cent of the amount owed each year with no penalty. (Fri, 02 Apr 2010 16:12:04 -0700)

Fed Exits Mortgages; Investors Should Enter Cautiously
The Fed stopped its $1.25 trillion mortgage purchasing program designed to stabilize the housing market. Should small investors step in? (Fri, 02 Apr 2010 16:24:48 -0700)

Grapevine man sentenced for Collin County mortgage scheme
Federal prosecutors reached a plea deal with a Grapevine man responsible for defraud mortgage lenders using 24 Collin County properties. (Fri, 02 Apr 2010 20:32:46 -0700)

Mortgage Rates Rise in Past Week; Current 30-Year Fixed Rate Is 4.93 Percent
RISMEDIA, April 3, 2010The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.93%, up thirteen basis points from 4.80% compared to this same time last week. The 30-year fixed mortgage spiked late Wednesday at 4.98%, before leveling off (Fri, 02 Apr 2010 22:04:03 -0700)

Grapevine man sentenced for Collin County mortgage scheme
Federal prosecutors reached a plea deal with a Grapevine man responsible for defraud mortgage lenders using 24 Collin County properties. (Fri, 02 Apr 2010 22:17:46 -0700)

VT settles with Countrywide over home loans
MONTPELIER (AP) The Vermont Attorney General's office says a $100,000 settlement over the home loan practices of Countrywide Financial Corp. will be used to help people whose loans have been foreclosed on. ... - Times Argus Staff (Sat, 03 Apr 2010 00:15:32 -0700)

Icahn buys rest of mortgage on 3 Trump casinos
Carl Icahn has bought the remaining half of the $500 million mortgage on the three Trump Entertainment Resorts casinos he's trying to buy out of bankruptcy. (Sat, 03 Apr 2010 00:31:19 -0700)

ARM 'numbers' may add up to refinance
The numbers tied to an adjustable-rate mortgage tell you if a refinance adds up to savings. (Wed, 07 Apr 2010 03:00:00 -0700)

Home purchase loan demand steady as refis sink
U.S. mortgage rates spiked last week, slashing refinancing demand, while requests for home purchase loans held steady amid a final rush for federal tax credits, Mortgage Bankers Association data showed on Wednesday. (Wed, 07 Apr 2010 04:02:01 -0700)

U.S. MBA Mortgage Applications Index Declined 11% Last Week
April 7 (Bloomberg) -- Mortgage applications in the U.S. declined last week as the biggest jump in mortgage rates since June led to a fifth straight drop in refinancing. (Wed, 07 Apr 2010 04:37:24 -0700)

MBA: Mortgage Refinance Actvity Declines as Rates Rise
The Market Composite Index, a measure of mortgage loan application volume, decreased 11.0 percent on a seasonally adjusted basis from one week earlier. ... (Wed, 07 Apr 2010 06:04:34 -0700)

US home purchase loan demand steady as refinancing sinks
US home purchase loan demand steady as refinancing sinksUS home purchase loan demand steady as refinancing sinks (Wed, 07 Apr 2010 07:44:09 -0700)

Australias FirstMac to Sell RMBS to Refinance Notes
April 8 (Bloomberg) -- FirstMac Ltd., an Australian non- bank lender, will seek to refinance A$340 million ($315 million) of mortgage-backed securities, opting to pay a higher yield to encourage investors to take part in new sales. (Wed, 07 Apr 2010 19:56:53 -0700)

Real Money: Freddie Mac Completes Sale of a $1.1 Bil. Multifamily Mortgage-Backed Securities
Freddie Mac settled the $1.1 billion offering of its Series K-006 Structured Pass-Through Certificates, multifamily mortgage-backed securities. The K-006 Certificates are backed by 68 recently originated multifamily mortgages and are guaranteed by... (Thu, 08 Apr 2010 03:12:03 -0700)

Mortgage rates jump this week
WASHINGTON (AP) - The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market - a threat to the fragile recovery in the housing market. And if you wanted to refinance at a super-low rate, you may have missed ... (Thu, 08 Apr 2010 04:06:09 -0700)

Record-low mortgage rates a thing of the past
ASSOCIATED PRESS WASHINGTON - The era of record-low mortgage rates is over. The average rate nationally on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market - a threat to the fragile recovery in the housing market. And if you wanted to refinance at a super-low rate ... (Thu, 08 Apr 2010 04:19:31 -0700)

Bankrate: Mortgage Rates Rise Following Job News
Mortgage rates increased for a third straight week, with the average conforming 30-year fixed mortgage rising to 5.35 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.47 discount and origination points. (Thu, 08 Apr 2010 04:30:00 -0700)

Do I have to pay taxes on forgiven mortgage debt?
Did you lose your house to foreclosure this year? Did your lender forgive some of your mortgage debt because you sold it for less than it was worth? If so, you could be facing a big tax hit. (Thu, 08 Apr 2010 10:31:00 -0700)

Home loan rates spike
WASHINGTON The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. (Thu, 08 Apr 2010 10:45:20 -0700)

Federal Home Loan Bank of San Francisco Allocates More than $14 Million to First-Time Homebuyer Programs
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco has allocated $14.6 million to its 2010 Workforce Initiative Subsidy for Homeownership and Individual Development and Empowerment Account first-time homebuyer programs. (Thu, 08 Apr 2010 13:18:00 -0700)

Glimcher Completes Refinancing of 2010 Mortgage Debt Maturities
COLUMBUS, Ohio----Glimcher Realty Trust announced today that it recently closed on a ten-year, $55.0 million mortgage loan secured by The Mall at Johnson City located in Johnson City, Tennessee. (Thu, 08 Apr 2010 13:46:00 -0700)

Mortgage Rates Jump After Fed Removes Support.
Freddie Mac reports that 30-year home mortgage rates have jumped to 5.21%, up from 5.08% the previou (Thu, 08 Apr 2010 16:01:23 -0700)

Borrowers shun fixed-rate mortgages
Mortgage refinancing is running at a two-year high and borrowers continue to shun fixed-rate mortgages, according to research conducted in March. (Thu, 08 Apr 2010 23:08:49 -0700)

FirstMac launches $350m RMBS refinancing, source says
Non-bank lender's issue top-rated tranche marketed at 140 to 145 bp over BBSW. 9 Apr 2010 6:37 PM (Fri, 09 Apr 2010 01:48:51 -0700)

Individual loan market stagnates
VietNamNet Bridge The individual loan market, including mortgages, home improvement loans and consumer loans, has failed to ignite due to consumer concerns over high borrowing costs, vague lending conditions and fears of jeopardising collateral. (Fri, 09 Apr 2010 02:05:42 -0700)

Great rate? Forget mortgage refinance
If you have a great mortgage rate, a refinance is a poor way to build an emergency fund. (Fri, 09 Apr 2010 03:00:00 -0700)

Vecchietta masterpiece goes back home on loan
A fifteenth century masterpiece on loan from Aberdeen Art Gallery has gone on show at a major exhibition of Early Renaissance Art in Siena, Italy. 2010/04/09 12:00:55 (Fri, 09 Apr 2010 04:23:41 -0700)

Mortgage rates on upswing; local bankers believe it's sign of growing strength in economy
If homeowners or potential homebuyers did not cash in on those record low mortgage rates during the past year or so, it's too late now. (Fri, 09 Apr 2010 08:29:59 -0700)

Commercial mortgage delinquencies rise in March
Delinquencies for U.S. commercial mortgage-backed securities surged in March, driven mostly by financial troubles at a pair of affordable-housing complexes in New York, Fitch Ratings said Friday. (Fri, 09 Apr 2010 10:25:27 -0700)

Federal Home Loan Bank of New York Announces $250 Million in Disaster Relief Funds
NEW YORK, April 9 /PRNewswire-USNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today that, in response to the damage done to many local communities due to recent severe weather, the FHLBNY has committed to provide up to $250 million in disaster relief loans to begin the process of rebuilding communities designated by FEMA as disaster areas. The funds are being made ... (Fri, 09 Apr 2010 11:32:00 -0700)

The Hindu Business Line : NHB plans to revive home loan securitisation
The liquidity generated from securitisation could be channelled to originate fresh home loans. National Housing Bank (NHB) is planning to revive the market for securitisation of home loans to help banks and housing finance companies overcome asset-liability mismatches. (Fri, 09 Apr 2010 12:54:45 -0700)

Indictments issued for NH owners of mortgage firm
Associated Press - April 9, 2010 4:15 PM ET CONCORD, N.H. (AP) - The owners of a defunct mortgage lender and a servicing company in New Hampshire have been indicted on federal fraud... (Fri, 09 Apr 2010 13:21:24 -0700)

Great rate? Forget Mortgage Refinance
Does it make sense to refinance into a longer-term mortgage in order to build an emergency fund? (Fri, 09 Apr 2010 13:47:05 -0700)

Have You Been Denied A Home Loan?
Fair Housing advocates in the Miami Valley say they are seeing unfortunate trends in lending that leave people in some neighborhoods unable to borrow money to fix up or refinance their homes. (Fri, 09 Apr 2010 14:20:10 -0700)

Mortgage Rates Soar to 5-Month Highs
At the beginning of the year, the average 30-year, fixed-rate mortgage was 1.41 percentage points higher than the yield on the 10-year Treasury. This week, the difference was 1.49 percentage points. (Fri, 09 Apr 2010 14:47:05 -0700)

Indictments issued for NH owners of mortgage firm
The owners of a defunct mortgage lender and a servicing company in New Hampshire have been indicted on federal fraud charges. (Fri, 09 Apr 2010 14:58:34 -0700)

Home refinancing means re-inspection
Some homeowners recovering from the flood make have another challenge. (Fri, 09 Apr 2010 15:41:21 -0700)

Mortgage hikes may force struggling homeowners to fix rates
WITH announcements yesterday that Bank of Ireland and EBS Building Society are to raise interest rates, many homeowners are wondering whether now may be the time to fix their mortgage. (Fri, 09 Apr 2010 18:37:47 -0700)

Mortgages: Why It May Be Time to Refinance Your Loan
With interest rates on the rise, more homeowners are asking that question. The answer depends, in part, on how long they plan to live in their current home. (Fri, 09 Apr 2010 20:22:54 -0700)

To protect minorities from higher loan fees, policy takes aim at the top
A new Obama administration policy that gets tough on home-mortgage discrimination is drawing kudos from consumer advocates, along with expressions of serious concern from lawyers who represent lenders and brokers. (Fri, 09 Apr 2010 21:00:00 -0700)

Obama administration adopts get-tough stance on mortgage bias
The Justice Department takes aim at brokers who overcharged minority applicants for loans during the housing boom, along with the companies that purchased those loans. A new Obama administration get-tough policy on home mortgage discrimination is drawing kudos from consumer advocates, along with expressions of serious concern from lawyers who represent lenders and brokers. (Fri, 09 Apr 2010 21:00:38 -0700)

Obama mortgage policy draws kudos and concern
A new Obama administration get-tough policy on home mortgage discrimination is drawing kudos from consumer advocates, along with expressions of serious concern from lawyers who represent lenders and brokers. (Fri, 09 Apr 2010 21:11:34 -0700)

Grapevine man sentenced for Collin County mortgage scheme
Federal prosecutors reached a plea deal with a Grapevine man responsible for defraud mortgage lenders using 24 Collin County properties. (Fri, 09 Apr 2010 22:44:26 -0700)

Saudi Arabia's first mortgage law could boost housing demand by 50 per cent
The Kingdom of Saudi Arabia is set to enact a new mortgage law within the next few months which has the potential to increase housing demand by as much as 50 per cent. (Sat, 10 Apr 2010 03:21:01 -0700)

Great rate? Forget mortgage refinance
Dear Dr. Don, I am considering a home mortgage refinance . This is more financial planning than anything else. My wife and I are both 57 years old. (Sat, 10 Apr 2010 03:42:20 -0700)

10pc home loan fear
MORTGAGE rates are predicted to hit a horror 10 per cent in the next two years as the Reserve Bank lifts rates to prevent runaway inflation. (Sat, 10 Apr 2010 03:55:00 -0700)

Mortgage rates climb significantly
WASHINGTON - The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent last week. (Sat, 10 Apr 2010 23:07:24 -0700)

How to buy your own home without a home loan
All it requires is to begin early and a bit of discipline. Here's a to-do list for those in who want to buy their own home without going for a home loan. (Sun, 11 Apr 2010 06:42:26 -0700)

Australian February Home-Loan Approvals Decline 1.8%
April 12 (Bloomberg) -- Australian home-loan approvals fell in February for a fifth straight month after central bank Governor Glenn Stevens boosted borrowing costs and the government cut grants to first-time buyers. (Sun, 11 Apr 2010 19:37:39 -0700)

Mortgage Bonds Weather End of Feds Purchases: Credit Markets
April 12 (Bloomberg) -- Yields on mortgage bonds with government-backed guarantees fell relative to U.S. government debt in the first full week of trading after the Federal Reserve ended its unprecedented purchase program, bolstering credit for housing as the economy begins to create jobs. (Sun, 11 Apr 2010 21:08:18 -0700)

Big Four Aussie Banks Used Financial Crisis to Expand Control Over Mortgage Market
Does this leave the Big Four exposed to just one incredibly important asset class? Well at least two of the Big Four might lose some sleep over it at night. Commonwealth Bank has 65% of its loan book tied up in household mortgages, according to Eric Johnston in the Age . (Sun, 11 Apr 2010 22:09:55 -0700)

$2.7B in Office Mortgage Bonds Due by 2015
Nearly $3 billion worth of mortgage bonds tied to office buildings in Orange County is coming due in the next five years, with about $200 million due this year alone, according to local market trackers. (Mon, 12 Apr 2010 01:30:30 -0700)

BNP Home Loan to Sell 1 Billion Euros of 10-Year Covered Bonds
April 12 (Bloomberg) -- BNP Paribas Home Loan Covered Bonds will sell 1 billion euros of 10-year notes, according to a banker involved in the transaction. (Mon, 12 Apr 2010 03:32:37 -0700)

Mortgage-rate rise means borrowers' party is almost over
Without announcing last call, Canadian banks have taken the punch bowl away from the mortgage party that millions have enjoyed, and hangovers are looming. (Mon, 12 Apr 2010 04:07:09 -0700)

BofA Completes Nearly 33,000 Permanent Home Loan Modifications
Bank of America said it has provided almost 33,000 permanent home loan modifications to homeowners struggling to keep up with mortgage payments. The modifications have been made under the federal government's Home Affordable Modification Program (HAMP). (Mon, 12 Apr 2010 07:55:59 -0700)

GMAC to sell European mortgage business
GMAC Financial Services said Monday it struck a deal to sell its European mortgage operations to a New York asset management firm, bringing it closer to its goal of withdrawing from the home lending business. (Mon, 12 Apr 2010 12:24:45 -0700)

GMAC to sell European mortgage business
NEW YORK -- GMAC Financial Services said Monday it struck a deal to sell its European mortgage operations to a New York asset management firm, bringing it closer to its goal of withdrawing from the home lending business. (Mon, 12 Apr 2010 12:24:45 -0700)

Washington Mutual created 'mortgage time bomb,' Senate panel says
The failed bank made subprime loans it knew were likely to go bad and then packaged them into risky securities, investigators say. Before Washington Mutual collapsed in the largest bank failure in U.S. history, its executives knowingly created a "mortgage time bomb" by making subprime loans they knew were likely to go bad and then packaging them into risky securities, a congressional ... (Mon, 12 Apr 2010 14:23:10 -0700)

BoA, JP Morgan & Wells Fargo profits to dim on home equity loan loss
Bank of America Corp, JPMorgan Chase & Co and Wells Fargo & Co may have to set aside an additional $30 billion to cover possible losses on home equity loans, an amount almost equal to analysts' estimates of profit at the three banks this year. (Mon, 12 Apr 2010 14:40:17 -0700)

State Bank, HDFC witness surge in home loan offtake
Momentum is back in the home loan market with offtake picking up faster in the last two quarters of the financial year compared to the first two for the two largest lenders - HDFC and State Bank of India. (Mon, 12 Apr 2010 14:48:32 -0700)

Mortgage broker charged in $2.8M fraud
A Bethesda man is due in federal district court on Friday to answer charges that he ripped off lenders, his own relatives and others for more than $2.8 million in a mortgage fraud scheme. (Mon, 12 Apr 2010 15:26:39 -0700)

WaMu Executives Knew Of Rampant Mortgage Fraud And Failed To Act
What's Your Reaction? One of the central unanswered questions of the financial crisis is whether bank executives knew fraud was rampant within their mortgage loans. (Mon, 12 Apr 2010 15:32:41 -0700)

Home loan demand drops
Demand for home loans continued to wane in February, even before the two latest interest rate increases. (Mon, 12 Apr 2010 15:55:27 -0700)

Aussie looks beyond CBA
AUSSIE Home Loans boss John Symonds is once again spreading his wings to find new funding for an expansion of his house-branded mortgage business. (Mon, 12 Apr 2010 16:32:31 -0700)

Senate probe finds fraud in WaMu mortgage lending
The mortgage lending operations of Washington Mutual Inc., the biggest U.S. bank ever to fail, were threaded through with fraud, Senate investigators have found. (Mon, 12 Apr 2010 18:46:10 -0700)

Banks Resist Plans to Reduce Mortgage Balances
An official at JPMorgan Chase said mortgage reductions could reward households for taking on more debt than they could afford and was simply unworkable. (Mon, 12 Apr 2010 21:02:59 -0700)

Bank of America to detail loan aid before Congress
Bank of America's top mortgage executive will release sobering details of home-loan delinquencies, including that "hundreds of thousands of customers" haven't made a payment in more than a year. (Mon, 12 Apr 2010 21:15:23 -0700)

Booths Dimensional Doubles Money in Mortgage Insurer Holdings
April 13 (Bloomberg) -- David Booth s Dimensional Fund Advisors reaped gains of more than 100 percent this year by investing in mortgage insurers that rallied on speculation that home-loan delinquencies would subside. (Mon, 12 Apr 2010 21:37:52 -0700)

Homebuyers scramble as mortgage rates jump
WASHINGTON The era of record-low mortgage rates is over. (Mon, 12 Apr 2010 21:50:59 -0700)

Rates pressure hits first home buyers, young families
New home buyers and young families are the most likely to be hit with mortgage stress as the Reserve Bank continues to lift rates. (Mon, 12 Apr 2010 22:04:08 -0700)

Md. lawmakers approve foreclosure mediation bill
ANNAPOLIS Lawmakers gave final approval Monday to requiring mediation between borrowers facing foreclosure and mortgage lenders, while two bills cracking down on sex offenders were still being negotiated in the waning hours of the legislative session. (Mon, 12 Apr 2010 22:36:02 -0700)

The National Mortgage Complaint Center Will Help Homeowners With Home Loan Payment Issues With Their Bank
Effective immediately the National Mortgage Complaint Center will assist any US homeowner who has a legitimate complaint against their home loan mortgage servicing company, or mortgage bank loan payment center, for a modest fee. (Tue, 13 Apr 2010 00:01:00 -0700)

Guilt admitted in suit answer
In his answer to a civil complaint accusing him of racketeering, Joseph A. Garretson admitted he shouldn't have been making mortgage refinancing loans. (Tue, 13 Apr 2010 00:01:58 -0700)

The National Mortgage Complaint Center Will Help Homeowners With Home Loan Payment Issues With Their Bank
Effective immediately the National Mortgage Complaint Center will assist any US homeowner who has a legitimate complaint against their home loan mortgage servicing company, or mortgage bank loan payment center, for a modest fee. The group says, "Hundreds of thousands of honest US homeowners have been cheated by their home loan service center, or bank mortgage payment center, and we think they ... (Tue, 13 Apr 2010 00:23:21 -0700)

Senate finds fraud in Washington Mutual mortgage lending
Senate investigators say they found that the mortgage lending operations of Washington Mutual, the biggest U.S. bank ever to fail, were threaded through with fraud. (Tue, 13 Apr 2010 00:27:52 -0700)

Tapping nest egg for mortgage is risky
Tapping into a nest egg to pay down the mortgage could put your retirement at risk. (Tue, 13 Apr 2010 03:00:00 -0700)

Mortgage lending rose by 12pc in February, says CML
Mortgage advances rose by 12pc in just one month to the end of February this year, according to figures released by the Council of Mortgage Lenders. (Tue, 13 Apr 2010 03:09:43 -0700)

Mortgage applications at pre-recession levels
Mortgage applications at pre-recession levels according to Countrywide. (Tue, 13 Apr 2010 03:09:44 -0700)

Mortgage Rates Start Inching Higher
The Federal Reserve has stopped buying up mortgages, something it began doing during the financial crisis to prop up the housing sector. Mortgage rates have been creeping up in recent days. The Fed has promised to step back in if the market encounters serious problems, but analysts are hoping the market can function again on its own. (Tue, 13 Apr 2010 03:30:13 -0700)

Panel: WaMu created 'mortgage time bomb'
The failed bank made subprime loans it knew were likely to go bad and then packaged them into risky securities, investigators say. Before Washington Mutual collapsed in the largest bank failure in U.S. history, its executives knowingly created a "mortgage time bomb" by making subprime loans they knew were likely to go bad and then packaging them into risky securities, a congressional ... (Tue, 13 Apr 2010 06:02:56 -0700)

Booths Dimensional Wins Wager on Mortgage Insurers
April 13 (Bloomberg) -- David Booth s Dimensional Fund Advisors reaped gains of more than 100 percent this year by investing in mortgage insurers that rallied on speculation that home-loan delinquencies would subside. (Tue, 13 Apr 2010 07:06:54 -0700)

Refinance Now, If You Can
Some are urging homeowners to refinance their mortgages now, before interest rates rise even higher. But many face serious hurdles on the road to a refinance. (Tue, 13 Apr 2010 07:32:26 -0700)

Mortgage-Bond Yields That Guide Loan Rates Fall to 3-Week Low
April 13 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide home-loan rates declined to the lowest in three weeks, signaling falling financing costs after a recent increase. (Tue, 13 Apr 2010 08:37:24 -0700)

Good faith estimate: New home loan form confuses borrowers
For anyone buying a home this spring, beware: There could be some kinks with the paperwork. (Tue, 13 Apr 2010 10:05:29 -0700)

Top banking executives skeptical of need for home loan reductions
WASHINGTON - Top banking industry executives say they are skeptical about helping troubled borrowers by forgiving a portion of their debt. The executives are telling lawmakers they are reducing the amount that troubled borrowers owe on their home loans only in limited cases. (Tue, 13 Apr 2010 10:10:31 -0700)

Banking execs skeptical on mortgage reductions
Top banking industry executives are skeptical about helping troubled borrowers by forgiving a portion of their debt. The executives told lawmakers on Tuesday they are reducing the amount that troubled borrowers owe on their home loans only in limited cases.... Mortgage - Loan - Bank - Business - Financial Services (Tue, 13 Apr 2010 10:29:59 -0700)

Royal Bank Says It Will Raise Canada Fixed Mortgage Rates 0.25%
April 13 (Bloomberg) -- RBC Royal Bank said in a Canada News Wire statement its raising its fixed mortgage rates by 0.25 percent effective April 14. (Tue, 13 Apr 2010 10:47:21 -0700)

Change in mortgage rules may turn off investors
New mortgage rules coming into effect on Monday will have a limited impact on first-time homebuyers, but it will hurt those looking to buy properties to flip for a profit or generate revenue. All of the changes that will occur on April 19, as part of the new rules announced federal Finance [...] (Tue, 13 Apr 2010 11:15:43 -0700)

National and State Mortgage Rates Fall Sharply Over Past Week; Current 30-Year Fixed Rate is 4.88%, According to ...
The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.88 percent, down twenty basis points from 5.08 percent compared to this same time last week. The 30-year fixed mortgage rate rose last week, spiking Sunday at 5.05 percent before falling to 4.88 percent Monday. (Tue, 13 Apr 2010 11:35:00 -0700)

Harrahs Offers 13% Yield on Boosted Sale of New Debt
April 13 (Bloomberg) -- Harrahs Entertainment Inc. increased the size of a planned note sale by 50 percent to $750 million as the worlds biggest casino owner seeks to capitalize on the ending of a two-year slump in Las Vegas gambling. (Tue, 13 Apr 2010 11:37:34 -0700)

KCK man, Leawood woman sentenced in $14 million mortgage plot
A federal judge today sentenced a Kansas City, Kan. man and a Leawood woman to jail for their role in a $14 million scheme to fraudulently obtain mortgage loans, authorities said. Terrence L. Cole, 44, of Kansas City, Kan., was sentenced to 37 months in prison and ordered to pay more than $2 million in restitution. Victoria Bennett, 36, of Leawood, was sentenced to two years in prison and ... (Tue, 13 Apr 2010 12:52:38 -0700)

Community One strives to help buyers become homeowners
Ray Harvey, co-owner of Community One Financial, says some homebuyers have been hurt by bad experiences with mortgage companies in the past, but he wants to change that. (Tue, 13 Apr 2010 13:13:07 -0700)

JPMorgans Mortgage Losses Not Curtailed, Bove Says: Airtime
JPMorgan Chase & Co., the second- biggest U.S. bank by assets, may show further losses in its prime and subprime mortgage portfolios when it reports first- quarter earnings, according to analyst Dick Bove. (Tue, 13 Apr 2010 13:18:22 -0700)

Demand Surges For Agency Mortgage Bonds As Cash-Rich Buyers Return
Demand Surges For Agency Mortgage Bonds As Cash-Rich Buyers Return (Tue, 13 Apr 2010 13:55:22 -0700)

Booths Dimensional Wins Wager on Mortgage Insurers
April 13 (Bloomberg) -- David Booth s Dimensional Fund Advisors reaped gains of more than 100 percent this year by investing in mortgage insurers that rallied on speculation that home-loan delinquencies would subside. (Tue, 13 Apr 2010 13:58:53 -0700)

Assistant Secretary for Financial Institutions Michael S. Barr Remarks to the Mortgage Bankers Association As Prepared ...
Just over one year ago, when President Obama took office, the financial system was teetering on the edge. A failing financial system threatened to drag the economy into the depths of another Great Depression. (Tue, 13 Apr 2010 14:12:52 -0700)

Mortgage-Bond Yields That Guide Loan Rates Fall to 3-Week Low
April 13 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide home-loan rates declined to the lowest in three weeks, pushing financing costs lower after a recent increase. (Tue, 13 Apr 2010 14:13:37 -0700)

2 sentenced for roles in mortgage fraud scheme
Two eastern Kansas residents have been sentenced for their roles in a $14 million mortgage fraud scheme targeting low-income and inexperienced home buyers. (Tue, 13 Apr 2010 14:52:54 -0700)

Good faith estimate: New home loan form confuses borrowers
For anyone buying a home this spring, beware: There could be some kinks with the paperwork. (Tue, 13 Apr 2010 16:06:31 -0700)

Commercial Mortgage REITs Thriving As Debt Markets Open
Commercial Mortgage REITs Thriving As Debt Markets Open (Tue, 13 Apr 2010 17:10:04 -0700)

Gov't Report: Mortgage Relief Plan Broken
As millions of homeowners remain underwater, big banks say they're doing enough. Middle class - United States - President - Mortgage - Barack Obama (Tue, 13 Apr 2010 17:19:02 -0700)

Redwood Trust set on mortgage-backed securities
Is a Marin County real estate investment trust about to ride back into the valley of death of far more than 600? According to the Wall Street Journal, Mill Valley's Redwood Trust Inc. looks set to put "at least" $200 million of residential mortgage-backed... Real estate - Wall Street Journal - Business - Mortgage-backed security - Investment trust (Tue, 13 Apr 2010 17:30:09 -0700)

Saline County Health Department negotiates new, money-saving mortgage agreement
After taking a series of steps in the Tuesday, April 13, board meetings of both the Saline County Health Department and Saline Public Health Fund Inc., the health department now has a new, better mortgage agreement on its facility. (Tue, 13 Apr 2010 19:59:15 -0700)

RBC mortgage rates up again, rental suite rules looming
Royal Bank kicked off another round of mortgage rate increases Tuesday, one week before new rental suite rules arrive that will make owning a home in Vancouver even more difficult. (Tue, 13 Apr 2010 20:28:24 -0700)

US home loan mods can ruin credit scores
AMERICAN CANYON, California - With a baby on the way, Rad Castro was already having trouble with his monthly $4,400 mortgage. He got a loan modification under the governments Home Affordable Modification Program, or HAMP, last year. (Tue, 13 Apr 2010 20:30:08 -0700)

Banks Resist Plans to Reduce Mortgage Balances
In a rebuff to the Obama administration, two big banks on Tuesday drew a line in the sand on cutting the mortgage balances of beleaguered homeowners, saying that the tool would be applied sparingly. (Tue, 13 Apr 2010 23:00:58 -0700)

Redwood Trust set on mortgage-backed securities
Is a Marin County real estate investment trust about to ride back into the valley of death of far more than 600? According to the Wall Street Journal, Mill Valley's Redwood Trust Inc. looks set to put "at least" $200 million of residential mortgage-backed... Real estate - Wall Street Journal - Business - Mortgage-backed security - Investment trust (Wed, 14 Apr 2010 00:30:10 -0700)

Good faith estimate: New home loan form confuses borrowers
For anyone buying a home this spring, beware: There could be some kinks with the paperwork. (Wed, 14 Apr 2010 01:44:54 -0700)

ECB May Limit Riskier Securities Used as Collateral for Loans
April 14 (Bloomberg) -- The European Central Bank may limit the amount of risky assets financial companies can post as collateral for loans as it seeks to cut holdings of securities blamed for worsening the recession, according to analysts at Citigroup Inc., Nomura International Plc and Barclays Capital. (Wed, 14 Apr 2010 02:07:29 -0700)

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