Mortgage News May 2010

Feb 2012 | Jan 2012 | Dec 2011 | Nov 2011 | Oct 2011 | Sep 2011 | Aug 2011 | Jul 2011 | Jun 2011 | May 2011 | Apr 2011 | Mar 2011 | Feb 2011 | Jan 2011 | Dec 2010 | Nov 2010 | Oct 2010 | Sep 2010 | Aug 2010 | Jul 2010 | Jun 2010 | May 2010 | Apr 2010 | Mar 2010 | Feb 2010 | Jan 2010 | Dec 2009 | Nov 2009 | Oct 2009 | Sep 2009 | Aug 2009 | Jul 2009 | Jun 2009 | May 2009 | Apr 2009 | Mar 2009 | Feb 2009 | Jan 2009 | Dec 2008 | Nov 2008 | Oct 2008 | Sep 2008 | Aug 2008 | Jul 2008 | Jun 2008 | May 2008 | Apr 2008 | Mar 2008 | Feb 2008 | Jan 2008 | Dec 2007 | Nov 2007 | Oct 2007 | Sep 2007 | Aug 2007 | Jul 2007 | Jun 2007 | May 2007 | Apr 2007 | Mar 2007 | Feb 2007 | Jan 2007 | Dec 2006 | Nov 2006 | Oct 2006 | Sep 2006 | Aug 2006 | Jul 2006 | Jun 2006 | May 2006 | Apr 2006 | Mar 2006 | Feb 2006

Previous 1 2 3 4 Next

Shelby: Bank bill should include mortgage firms
A Democratic plan to rein in the financial industry is flawed because it fails to tighten control over two large government-sponsored mortgage companies blamed for creating a demand for risky loans and inflating the housing bubble, a leading GOP senator on banking issues says. (Sat, 08 May 2010 16:49:12 -0700)

How to Appraise Home Appraisers
In today's real estate market, the home appraiser plays a vital role in the sale of a house. Here are some tips on what to look for when hiring one. (Sat, 08 May 2010 17:20:00 -0700)

Mortgage fraud difficult to spot: Mountie
Mortgage fraud is one of the toughest to spot and investigate, an RCMP officer with experience in the field says. (Sat, 08 May 2010 17:22:59 -0700)

HOUSING: Homeowner left with big bill, trashed credit, after rejection for federal loan modification
When Fallbrook homeowner Armando Robles was rejected for apermanent mortgage modification, he was disappointed ---- but thatwas nothing compared to how he felt when he discovered his creditrating was trashed and he was stuck with a "catch up" bill for$10,500 piled high with interest and late fees. (Sat, 08 May 2010 20:10:02 -0700)

Shelby: Bill should include mortgage firms
WASHINGTON (AP) -- A Democratic plan to rein in the financial industry is flawed because it fails to tighten control over two large government-sponsored mortgage companies blamed for creating a demand for risky loans and inflating the housing bubble, a leading GOP senator on banking issues says. The legislation "touches nearly every corner of the economy," Alabama Sen. Richard Shelby said in the ... (Sat, 08 May 2010 20:30:36 -0700)

Fed taking steps to unload assets without triggering meltdown
Having waged a battle against financial mayhem for the past two years, the Federal Reserve is tentatively declaring victory. As it guaranteed debt and swapped cash for all sorts of assets, the Fed's balance sheet grew -- from about $850 billion in assets before the crisis to about $2.3 trillion this spring. The binge included the purchase of $1.25 trillion of mortgage-backed securities issued by ... (Sat, 08 May 2010 20:54:26 -0700)

Va. ranks in Top 10 for mortgage fraud
Va. earns dubious distinction Va. in top 10 in fraud on mortgages Smart crooks, sloppy mortgage banking, shady appraisers and consumers who fibbed on their application. These actions helped push Virginia into the top 10 worst states for mortgage fraud in 2009. The LexisNexis Mortgage Asset Research Institute, which issued the mortgage-fraud report, said Virginia ranked 10th in 2009 for the first ... (Sat, 08 May 2010 21:07:41 -0700)

More Valley homeowners walk out on mortgages
In areas hardest hit by plunging real-estate values -- including the San Joaquin Valley -- some people who can afford their mortgage are opting to walk away from their loan and let their bank repossess the house. (Sat, 08 May 2010 21:32:58 -0700)

Improper disposal of hundreds of loan applications raises security concerns
The financial and personal details of about 300 property-loan applicants were compromised when confidential documents were mistakenly tossed into an outdoor waste bin (Sat, 08 May 2010 23:13:43 -0700)

American Dream Of Home Ownership Is Still In Reach To Millions
"Despite the fact that mortgage lenders across the country have tighten their lending guidelines, raised minimum credit score requirements and slightly increased the average home buyer's needed down payment, the American dream of home ownership is still in reach to millions of potential home buyers", says James N. Rivers, Author of the new book "You Can Achieve The American Dream...With The ... (Sun, 09 May 2010 00:00:00 -0700)

Teacher's loan lowered down payment amout
Broker name: John Holmgren, Holmgren & Associates, Oakland Property type: A three-bedroom, one bath home Oakland Appraised value: $500,000 Borrowing amount: $400,000 first mortgage; $85,000 second mortgage Loan type: A CalSTRS (California State Teachers'... Mortgage - Business - Financial Services - California - Down payment (Sun, 09 May 2010 00:28:51 -0700)

Search FT.com
Not since the global financial crisis began in 2008 has there been such a sense of urgency in Spain about the need to restructure the countrys struggling network of unlisted savings banks, according to Spanish bankers and financial analysts. (Sun, 09 May 2010 09:35:41 -0700)

Shelter your mortgage and investments and don't forget redundancy cover
With the new government's economic policy far from certain, it would be wise to protect mortgage, income and investments We may be a step closer to knowing who is going to govern the UK for the next couple of years or at least months but the future for the economy, and how it will affect our personal finances, is still uncertain. Many people seem to have been delaying spending decisions ... (Sun, 09 May 2010 09:47:05 -0700)

Banks to chase parents on mortgage guarantees
Banks are preparing to pursue the parents of defaulting mortgage borrowers, who have guaranteed their childrens homeloans. (Sun, 09 May 2010 10:05:13 -0700)

St Laurence: Applause turns to calls for blood
Investors are up to their necks in St Laurence without a paddle, owed $250 million. Where did the money go? Roeland van den Bergh reports. (Sun, 09 May 2010 10:12:19 -0700)

Cashpoints: Mortgage lending slows in March
This week's top news stories Virginia Wallis answers your homebuying questions Ten of the best free things to do this summer This week's top stories Mortgage lending slowed sharply in March compared to the previous month, according to latest Bank of England figures, in a sign that the housing market recovery could be running out of steam. Nearly 4 million graduates and students face ... (Sun, 09 May 2010 10:42:17 -0700)

Mortgage Rates at Lowest Level in 6 Weeks
RISMEDIA, May 10, 2010Freddie Mac recently released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.00% with an average 0.7 point for the week ending May 6, 2010, down from last (Sun, 09 May 2010 11:11:48 -0700)

Do homework before choosing home loan
Should you buy a home -- even a great bargain -- if you have only $1,000 for the down payment? (Mon, 10 May 2010 03:00:00 -0700)

Drop in late mortgage payments is first since 2006
The rate of late mortgage payments dropped in the first quarter for the first time since 2006, according to credit reporting agency TransUnion. (Mon, 10 May 2010 05:54:03 -0700)

Mortgage Holders Owing More Than Homes Are Worth Rise to 23%
May 10 (Bloomberg) -- More than a fifth of U.S. mortgage holders owed more than their homes were worth in the first quarter as repossessions climbed to a record, according to Zillow.com. (Mon, 10 May 2010 06:18:57 -0700)

Walking Away From Your Mortgage On Principle
The number of strategic defaults is rising, which could put a damper on housing's recovery. (Mon, 10 May 2010 09:00:45 -0700)

Americas Watchdog Endorses Lenox Financial As A Smart Mortgage Alternative
Americas Watchdog is endorsing Lenox Financial as a smart mortgage alternative. (Tue, 11 May 2010 00:01:00 -0700)

Americas Watchdog Endorses Lenox Financial As A Smart Mortgage Alternative
Americas Watchdog is endorsing Lenox Financial as a smart mortgage alternative. The Lenox Financial approach is simple-they charge a slightly higher interest rate, and they pick up the thousands of dollars in allowable closing costs for doing the mortgage transaction. The group says," this is a good way to finance or refinance-or purchase a home-for the average high credit-very high credit ... (Tue, 11 May 2010 00:15:08 -0700)

Advantages of a pre-approved home loan
A pre-approved housing loan is essentially an in principle sanction given by a bank for a particular loan amount. A fairly robust process is followed by the banks to determine the loan amount. (Tue, 11 May 2010 01:22:38 -0700)

Mortgage defaults show signs of slowing
TransUnion says serious delinquencies fell slightly in the first quarter. Fitch says serious delinquencies on subprime loans packaged into mortgage-backed securities fell a second month in a row. Two reports released Monday raise hope that the country's tide of home-loan defaults may finally be starting to recede, but the picture is far from clear. (Tue, 11 May 2010 04:50:15 -0700)

Spouse's Bad Credit Creates Mortgage Mess
With home lending still tight, mortgage brokers are seeing more borrowers whose partners have bad credit. (Tue, 11 May 2010 05:23:17 -0700)

Federal Home Loan Bank of Atlanta Declares First Quarter 2010 Dividend
ATLANTA , May 11 /PRNewswire/ -- The Board of Directors of Federal Home Loan Bank of Atlanta (the Bank) has approved an annualized dividend rate for the first quarter of 2010 of 0.26 percent. The dividend rate is equal to average three-month LIBOR for the period of Jan. 1, 2010 to March 31, 2010 , and is applicable to capital stock held during that period. The dividend will be credited to ... (Tue, 11 May 2010 07:34:00 -0700)

Mortgage Meltdown: How Banks Silenced Whistleblowers
In-house investigators said bank officials ignored their warnings of mortgage fraud. Mortgage fraud - Mortgage - Business - Financial Services - United States (Tue, 11 May 2010 08:02:25 -0700)

Mortgage hunters get temporary reprieve
The Greek debt crisis has led to an unexpected - but likely brief - dip in fixed mortgage rates at most Canadian banks. (Tue, 11 May 2010 09:33:30 -0700)

Understanding Lender-Required Flood Insurance
Having to buy flood insurance shouldnt be a surprise. Find out what you need to know when purchasing or refinancing a house. (Tue, 11 May 2010 10:02:59 -0700)

Mortgage break fees 'reasonable'
Home owners hoping for compensation from their bank after being stung with high mortgage break fees may be out of luck after an investigation by the competition watchdog found most banks were charging reasonable fees.The Commerce... (Tue, 11 May 2010 10:20:41 -0700)

Federal Housing Finance Agency Approves Fed Home Loan Bank of Atlantas Severance Payment to Ex-CEO Richard Dorfman ...
By citybizlist Staff ATLANTA -- The Federal Home Loan Bank of Atlanta has received the Federal Housi... (Tue, 11 May 2010 10:45:15 -0700)

MCAN Mortgage Corporation reports first quarter earnings
MCAN Mortgage Corporation reported net income of $4.8 million for the first quarter of 2010, down from $6.4 million a year earlier. Earnings per share for the quarter were $0.33 compared to $0.45 last year. (Tue, 11 May 2010 11:53:00 -0700)

Fifth man pleads guilty in mortgage fraud case
A fifth man has pleaded guilty to a charge connected to a $4.2 million mortgage fraud conspiracy involving the Cape Coral police chief's son. James J. O'Brien pleaded guilty Monday to one count of loan and credit application fraud, which carries a maximum sentence of 30 years in prison and a fine of up to $1 million. He entered into a plea deal May 4 with federal prosecutors. (Tue, 11 May 2010 12:36:31 -0700)

MCAN Mortgage first quarter profits drop 25 per cent to $4.8 million
TORONTO - MCAN Mortgage Corp. (TSX:MKP) said its profits dropped by 25 per cent to $4.8 million in the first quarter, primarily due to lower mortgage interest and fee income. (Tue, 11 May 2010 12:57:00 -0700)

Underwater In Your Mortgage? What You Can Do
John Matarese reports on the latest options for homeowners who owe more on their mortgages than their home is worth. (Tue, 11 May 2010 13:21:17 -0700)

Ask Andy: Auto refinancing
You can refinance your car loan just like your mortgage. Well, ALMOST like your mortgage. Ask Andy because there are rules. (Tue, 11 May 2010 14:15:18 -0700)

Starting the Conversation on Fannie and Freddie
Reforming Fannie and Freddie is surely a good idea, but one likely consequence is higher-priced mortgages (Tue, 11 May 2010 14:53:01 -0700)

Post Office launches mortgage deals for first time buyers
The Post Office today increased its assault on the mortgage market with the launch of a range of deals for first-time buyers. (Tue, 11 May 2010 16:12:06 -0700)

Free help available for home loan modifications
MOSES LAKE If you dont want to go it alone when applying for a lower mortgage payment, free help is available. The application process for a home loan modification is lengthy and often takes many phone calls. (Tue, 11 May 2010 16:25:15 -0700)

Home loan modification helps couple
MOSES LAKE After applying and reapplying about 18 times, a Moses Lake couple significantly lowered their mortgage payment through the federal Making Home Affordable Program. (Tue, 11 May 2010 16:26:55 -0700)

Home-loan-swap window to help beat rate hikes
The government may seek changes in the prepayment rules to enable a home loan borrower to shift to cheaper lenders if his bank raises interest rates soon after disbursing the loan. (Tue, 11 May 2010 16:43:24 -0700)

Former Phoenix loan officer sentenced for mortgage fraud
The woman was part of a scheme using fraudulent loan documents and home loan straw buyers. (Tue, 11 May 2010 16:45:18 -0700)

Ex-Liberal official named in mortgage suit
A massive alleged mortgage fraud based in Calgary has touched the ranks of Alberta's Liberal party, CBC News has learned. (Tue, 11 May 2010 19:11:20 -0700)

S Korean stocks close down on worries over U.S. mortgage agency
South Korean stocks closed lower Tuesday, after showing signs of recovery in the previous session, on financial concerns over Fannie Mae, or the Federal National Mortgage Association of the United States, local analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) went down 7.39 points, or 0.44 percent, to close at 1,670.24, the bourse operator Korea Exchange (KRX) said. Seoul ... (Tue, 11 May 2010 19:41:22 -0700)

Home loan approvals drop
There has been a fall in the number of owner-occupier home loans approved during March. (Tue, 11 May 2010 19:45:42 -0700)

Rising rates hit home loan approvals
There has been a fall in the number of owner-occupier home loans approved during March. (Tue, 11 May 2010 20:13:25 -0700)

Mortgage modification nightmare
RICHMOND, VA (WWBT) Looking to 'lower' your mortgage payment? Are you close to foreclosure and need help? Ads like those are everywhere, but many companies are putting home owners, deeper in debt. So, who can you trust? (Tue, 11 May 2010 20:18:06 -0700)

Australian March Home-Loan Approvals Decline 3.4%
May 12 (Bloomberg) -- Australian home-loan approvals fell in March for a sixth straight month after central bank Governor Glenn Stevens boosted borrowing costs and the government cut grants to first-time buyers. (Tue, 11 May 2010 20:48:02 -0700)

Canyon National Bank team member offers expertise in Native American loan programs
PALM SPRINGS, Calif. As one of the initial Canyon National Bank owners, the Agua Caliente Band of Cahuilla Indians (with current ownership of nearly 42 percent of the banks outstanding stock), provided the catalyst for Lacy Conways intent to become part of the CNB mortgage team. (Tue, 11 May 2010 21:06:08 -0700)

Aust bonds firmer after home loan data
The Australian bond market closed firmer on Wednesday as investors reduced their expectations of future rate rises after data showed home loan commitments had slumped to a nine-year low. (Wed, 12 May 2010 01:18:30 -0700)

States: Let taxpayers cover your mortgage
Unemployed? Owe more on your mortgage than your home is worth? Your state might one day pay your mortgage. (Wed, 12 May 2010 02:33:40 -0700)

U.S. MBA Mortgage Applications Index Increased 3.9% Last Week
May 12 (Bloomberg) -- The number of mortgage applications in the U.S. rose last week, led by a rebound in refinancing as long-term borrowing costs dropped below 5 percent for the first time in two months. (Wed, 12 May 2010 04:21:15 -0700)

Emergency fund may calm home equity fears
Dear Dr. Don, I currently own a high-end home in California with a first mortgage at 5.75 percent ( conventional loan ) and a home equity line of credit currently at 2.75 percent. The total for both loans is approximately $740,000 but I'm not upside down in the home. (Wed, 12 May 2010 04:34:55 -0700)

MBA: Mortgage Purchase Applications Decrease
The Market Composite Index, a measure of mortgage loan application volume, increased 3.9 percent on a seasonally adjusted basis from one week earlier. ... (Wed, 12 May 2010 04:36:11 -0700)

Home refinancing demand jumps as rates drop
U.S. mortgage applications rose last week, reflecting a jump in demand for home refinancing loans as interest rates reached their lowest level since mid-March, data from an industry group showed on Wednesday. (Wed, 12 May 2010 04:47:18 -0700)

Home refinancing demand jumps as rates drop
By Julie Haviv (Wed, 12 May 2010 04:47:18 -0700)

US Home Refinancing Demand Jumps as Rates Drop
The Mortgage Bankers Association said mortgage applications rose last week. (Wed, 12 May 2010 05:45:25 -0700)

Market Commentary and Intraday News
(RTTNews) - U.S mortgage demand increased again last week, led by a bounce-back in refinance applications and interest rates hitting their lowest levels since mid-March. (Wed, 12 May 2010 06:14:22 -0700)

Mortgage Rates Fall on Turmoil in Europe
Rates ended at 5.01% last Friday, down from 5.15% at the beginning of the week. (Wed, 12 May 2010 07:16:01 -0700)

Home Refinancing Demand Jumps As Rates Drop
Mortgage applications rose nationwide last week, reflecting a jump in demand for home refinancing loans as interest rates reached their lowest level since mid-March, data from an industry group showed on Wednesday. (Wed, 12 May 2010 07:50:33 -0700)

Senate votes to bar mortgage kickbacks, liar loans
The Senate on Wednesday voted to end mortgage kickbacks and so-called "liar loans," two lending practices that played a role in the meltdown of the subprime mortgage market. (Wed, 12 May 2010 07:53:10 -0700)

Prosecutors and SEC reportedly taking aim at Morgan Stanley for Goldman-style deals in mortgage market
Morgan Stanley may be the next target in a widening federal investigation into whether Wall Street firms played investors for suckers by creating designed-to-fail mortgage securities and betting against them. The Wall Street Journal reports that federal prosecutors have launched an inquiry into two Morgan-designed collateralized debt obligations pegged to the mortgage market that the bank took ... (Wed, 12 May 2010 08:33:32 -0700)

Feds look at Morgan Stanley's Goldman-style mortgage deals
The Newsroom - Morgan Stanley may be the next target in a widening federal investigation into whether Wall Street firms played investors for suckers by creating designed-to-fail mortgage securities and betting against them. The Wall Street Journal reports that federal prosecutors have launched an inquiry into two Morgan-designed collateralized debt obligations pegged to the mortgage market ... (Wed, 12 May 2010 08:39:53 -0700)

Justice investigating mortgage-related transactions at Morgan Stanley
The Justice Department is investigating mortgage-related transactions put together by Morgan Stanley, the latest sign that the Obama administration is intensifying its examination of prominent Wall Street firms, federal law enforcement officials said Wednesday. Morgan Stanley - Business - Wall Street Journal - Allegedly Unethical Firms - Wall Street (Wed, 12 May 2010 09:09:00 -0700)

Senate wades into mortgage finance in bank bill
The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the U.S. Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort. (Wed, 12 May 2010 09:22:33 -0700)

Feds look at Morgan Stanley's Goldman-style mortgage deals
Morgan Stanley may be the next target in a widening federal investigation into whether Wall Street firms played investors for suckers by creating designed-to-fail mortgage securities and betting against them. The Wall Street Journal reports that federal prosecutors have launched an inquiry into two Morgan-designed collateralized debt obligations pegged to the mortgage market, against which the ... (Wed, 12 May 2010 10:25:28 -0700)

Senate votes to rein in mortgage lenders
Taking aim at deceptive lending, the Senate on Wednesday voted to ban mortgage brokers and loan officers from getting greater pay for offering higher interest rates on loans, and to require that borrowers prove they can repay their loans. (Wed, 12 May 2010 10:54:12 -0700)

Senate Votes to Rein in Mortgage Lenders
Taking aim at deceptive lending, the U.S. Senate on Wednesday voted to ban mortgage brokers and loan officers from getting greater pay for offering higher interest rates on loans, and to require that borrowers prove they can repay their loans. (Wed, 12 May 2010 11:38:43 -0700)

Senate tackles mortgage finance in bank bill
The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort. (Wed, 12 May 2010 12:21:10 -0700)

Prosecutors seek mortgage fraud ring victims
Federal prosecutors are looking for dozens of victims of a $12 million mortgage fraud operation run by an ex-Huntington Harbour resident and others..Edward Seung Ok, 44, targeted homeowners all over southern California facing foreclosure,... (Wed, 12 May 2010 12:25:50 -0700)

Homeowners pick fixed-rate, shorter terms
WASHINGTON, May 12 (UPI) -- The U.S. Federal Home Loan Mortgage Corp. said borrowers refinancing their mortgages in the first quarter chose fixed-rate contracts 95 percent of the time. (Wed, 12 May 2010 12:50:54 -0700)

Senate votes to rein in mortgage lenders
Taking aim at deceptive lending, the Senate on Wednesday voted to ban mortgage brokers and loan officers from getting greater pay for offering higher interest rates on loans, and to require that borrowers prove they can repay their loans. (Wed, 12 May 2010 15:21:37 -0700)

Free help available for home loan modifications
MOSES LAKE If you dont want to go it alone when applying for a lower mortgage payment, free help is available. The application process for a home loan modification is lengthy and often takes many phone calls. (Wed, 12 May 2010 16:11:19 -0700)

Senate tackles mortgage finance in bank bill
The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort. (Wed, 12 May 2010 16:42:16 -0700)

Senate votes to ban certain bonuses for mortgage brokers, loan officers
The legislation prohibits payments for signing borrowers to higher interest rates and more onerous terms than those for which the borrowers were qualified. The U.S. Senate voted Wednesday to ban certain bonus payments to mortgage brokers and loan officers, cutting off what experts have called one of the key causes of the nation's mortgage meltdown. (Wed, 12 May 2010 19:22:14 -0700)

Illinois mortgage defaults hit six-month high
Almost 20,000 homes repossessed this year Illinois homeowners received more mortgage default notices in April than in any month since October, and more than 75 percent of those filings were in the six-county Chicago area. (Wed, 12 May 2010 20:21:09 -0700)

Senate votes to ban certain bonuses for mortgage brokers, loan officers
The legislation prohibits payments for signing borrowers to higher interest rates and more onerous terms than those for which the borrowers were qualified. The U.S. Senate voted Wednesday to ban certain bonus payments to mortgage brokers and loan officers, cutting off what experts have called one of the key causes of the nation's mortgage meltdown. (Wed, 12 May 2010 21:42:29 -0700)

U.S. Prosecutors, SEC Probe Mortgage Bond Deals, WSJ Reports
U.S. federal prosecutors and the Securities and Exchange Commission are cooperating in a preliminary criminal probe into whether banks misled investors about their participation in mortgage-bond deals, the Wall Street Journal said, citing a person familiar with the matter. (Wed, 12 May 2010 23:52:40 -0700)

Crisis cut U.S. minority mortgage access: study
America's financial crisis disproportionately cut access to conventional mortgage loans for minority communities compared to predominantly white neighborhoods, according to a study released on Thursday. (Thu, 13 May 2010 00:51:36 -0700)

U.K. Mortgage Repossessions Declined in First Quarter, CML Says
May 13 (Bloomberg) -- U.K. home repossessions declined 7.5 percent in the first quarter as record-low interest rates helped more households meet their mortgage obligations, the Council of Mortgage Lenders said. (Thu, 13 May 2010 02:50:43 -0700)

Mortgage rates fall to 2010 low
Despite near record-low mortgage rates, is the housing market permanently past its prime? (Thu, 13 May 2010 03:00:00 -0700)

Bankrate: Mortgage Rates Decline Amid Market Volatility
Mortgage rates were down for the third week in a row, with the average conforming 30-year fixed mortgage rate falling to 5.07 percent, according to Bankrate.com's weekly national survey. (Thu, 13 May 2010 04:30:00 -0700)

Mortgage rates fall to 2010 low
Mortgage rates fell to their low point for the year. The benchmark 30-year fixed-rate mortgage fell 5 basis points this week, to 5.07 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 13 May 2010 04:34:36 -0700)

Should you refinance, or hang tight?
Dear Dr. Don, In April 2008, I refinanced my first and second mortgages into a 3/1 adjustable-rate mortgage at 5.125 percent. I intended to move before the mortgage rate adjusted in 2011. With the housing market's collapse, my home's value has decreased dramatically. (Thu, 13 May 2010 04:36:31 -0700)

Cuomo investigating 8 banks over mortgage securities
A person familiar with the matter says the New York attorney general is investigating eight banks to determine whether they misled ratings agencies about mortgage securities. Attorney General Andrew Cuomo is trying to figure out if banks provided the agencies with false information in order to get better ratings on... (Thu, 13 May 2010 04:41:14 -0700)

AP: N.Y. AG is probing 8 banks over mortgage securities
New York's attorney general has launched an investigation into eight banks to determine whether they misled ratings agencies about mortgage securities, according to a person familiar with the investigation. (Thu, 13 May 2010 04:54:09 -0700)

Free help available for home loan modifications
MOSES LAKE If you dont want to go it alone when applying for a lower mortgage payment, free help is available. The application process for a home loan modification is lengthy and often takes many phone calls. (Thu, 13 May 2010 09:11:52 -0700)

Mortgage rates drop for fifth consecutive week
Interest rates hit their lowest level this year, mortgage company Freddie Mac says. The average rate for a 30-year fixed loan is 4.93%. The European debt crisis is helping to drive down rates. Interest rates on mortgages have declined for a fifth straight week, with 30-year fixed-rate loans dropping below 5% to the lowest level of the year, Freddie Mac said in its weekly survey of lenders. (Thu, 13 May 2010 11:42:28 -0700)

Mortgage rates drop and "cash in" is the new refinance
Greece is the word. Greek's troubles have been the focal point of economic uncertainty and helped mortgage rates improve the first week of May. For how long, is anybody's guess. Even moderately good news may assuage investor concerns and help stocks at the expense of bonds. (Thu, 13 May 2010 22:49:40 -0700)

Queens prosecutors broke up mortgage scam ring that preyed upon city's Guyanese community
A ring of mortgage scammers preyed on the city's Guyanese community, promising to help strapped homeowners out of debt while actually stealing the equity they had. Queens prosecutors broke up the four-year fraud this week, charging 17 people who allegedly. (Fri, 14 May 2010 00:17:00 -0700)

Business briefs: Renal Advantage to refinance debt
Renal Advantage Inc., a closely held provider of outpatient dialysis services part-owned by Welsh, Carson, Anderson & Stowe, is seeking $305 million of bank debt to pay a dividend and refinance debt. (Fri, 14 May 2010 00:19:19 -0700)

Is it time to refinance your mortgage?
Mortgage applications, which include both purchase and refinance loans, are on the rise as borrowers seek to lock in rates near historical lows. (Fri, 14 May 2010 11:05:31 -0700)

Spouse's bad credit creates mortgage mess
Underwriting guidelines prevent lenders from making a 'real-life review' of a couple's creditworthiness. Only the lower of the two credit scores determines mortgage rates. (Fri, 14 May 2010 11:05:41 -0700)

Mortgage-Bond Yields That Guide Loans Fall to Five-Month Low
May 14 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide home-loan rates fell to the lowest in five months as U.S. Treasuries gained on concern that the sovereign debt crisis will stunt economic growth. (Fri, 14 May 2010 15:24:25 -0700)

Fitch Affirms JP Morgan Commercial Mortgage Finance Corp. 1997-C5; Assigns Outlooks & LS Ratings
NEW YORK----Fitch Ratings affirms, assigns Loss Severity ratings and Outlooks to J.P. Morgan Commercial Mortgage Finance Corp.'s mortgage pass-through certificates, series 1997-C5, as follows: (Fri, 14 May 2010 15:52:00 -0700)

Control yourself: Resist new credit before closing home loan
If you're thinking about applying for a home mortgage later this spring, here's some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing. (Fri, 14 May 2010 16:50:35 -0700)

Man gets 42 months in prison for Hillsborough mortgage fraud
His mortgage scam cost a struggling Hillsborough veteran his house. (Fri, 14 May 2010 20:14:42 -0700)

The Mortgage Professor: Five inescapable truths about financial disasters
Since financial disasters are entirely man-made, in principle they should be easier for governments to deal with than natural disasters, which cannot be controlled, right? Actually, I don't think so. Financial disasters are less predictable than natural disasters. Those who expose the financial... Mortgage - United States - Business - Financial services - Arizona (Fri, 14 May 2010 21:00:00 -0700)

Personal Finance: Find the best rate for your mortgage
Find the best rate for your mortgage Home mortgage refinancing remains an attractive option for ho (Fri, 14 May 2010 22:00:42 -0700)

Unity Bank To Host Mortgage and Small Business/Commercial Loan Seminar in Clinton
Unity Bank, headquartered in Clinton, N.J., will host a residential mortgage and small business/commercial lending seminar at its Clinton headquarters on Wednesday, May 19, 2010 from 6:00 p.m. to 8:00 p.m.. (Sat, 15 May 2010 00:00:00 -0700)

City to launch home loan program for residents
Desert Hot Springs Redevelopment Agency will launch a new down payment assistance program aimed at increasing home ownership in the city. (Sat, 15 May 2010 01:27:23 -0700)

Mortgage arrears fall, but warnings of hard times ahead
The number of mortgage borrowers behind with their repayments surprisingly fell in the first quarter of 2010 according to the Council of Mortgage Lenders (CML). (Sat, 15 May 2010 16:08:08 -0700)

Mortgage rates drop to lowest level this year
WASHINGTON (AP) - Mortgage rates fell this week to the lowest level of the year, as rates fell on U.S. government securities. Fixed-mortgage rates closely track interest rates paid on long-term Treasury bonds. (Sat, 15 May 2010 23:03:12 -0700)

Mortgage rates hit low for year
Mortgage rates fell last week to the lowest level of the year, as rates fell on U.S. government securities. (Sun, 16 May 2010 00:15:59 -0700)

Money Talk: Will student debt hurt mortgage application?
New, stricter lending standards could limit the size of the home loan that a former graduate student can get. Dear Liz: I recently completed a master's degree in counseling and am now paying student loans. I am punctual and consistent in my payments. How does having a $30,000 outstanding student loan look to home lenders? We recently sold our home and are planning to purchase another. (Sun, 16 May 2010 01:15:59 -0700)

Lenders likely to order second, last-minute credit report before closing on a mortgage
Changes taking effect June 1 are part of Fannie Mae's 'loan quality initiative' to cut down on slipshod underwriting and fraud by borrowers. If you're thinking about applying for a home mortgage this year, here's some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing. (Sun, 16 May 2010 01:16:29 -0700)

Phoenix home-loan modification delayed for many
The government's 15-month-old home-loan modification program has disappointed many. (Sun, 16 May 2010 01:56:42 -0700)

Find best rate to refinance mortgage
Home mortgage refinancing remains an attractive option for homeowners looking to save money on monthly payments or possibly avoid foreclosure. (Sun, 16 May 2010 03:03:42 -0700)

Do homework before choosing home loan
Dear Dr. Don, We are first-time homebuyers looking at a foreclosed home worth about $50,000. We have a somewhat small budget and can only make a small down payment of $1,000 or less (more like $500). We were told we should go with a 30-year, interest-only fixed-rate home loan , since we need small monthly payments and intend to sell it in probably five to 10 years. (Sun, 16 May 2010 04:34:50 -0700)

Phoenix home-loan modification delayed for many
The federal government's 15-month-old home-loan modification program has not been the foreclosure rescue plan many Phoenix-area homeowners expected. Slow lender response, piles of paperwork and drawn-out trial periods have frustrated many struggling homeowners. (Sun, 16 May 2010 08:01:23 -0700)

Parent bailouts to trigger CAT mortgage bill
Defaulting mortgage borrowers will face substantial tax liabilities if their banks invoke parental guarantees to get their money back or minimise losses. (Sun, 16 May 2010 10:06:03 -0700)

PolitiFact: Democrats misquote McCollum on subprime mortgage crisis
Florida Democrats say a recent mortgage fraud community forum hosted by Attorney General Bill McCollum was little more than a political stunt crafted to help the Republican running for governor. (Sun, 16 May 2010 17:51:31 -0700)

Ronald Lipman: Notarized statement didn't secure loan
An unsecured loan to a bankrupt friend facing foreclosure won't be repaid with proceeds from sale of the property. (Sun, 16 May 2010 19:12:53 -0700)

The most misunderstood mortgage
What would you call a mortgage program where more than 86 percent of eligible borrowers think that they do not qualify; only 10 percent of eligible borrowers actually have the program; and, the majority of lenders do not fully understand the program? (Sun, 16 May 2010 19:28:38 -0700)

Pelham firm on federal government's radar for loan
WAYNE CAMPBELL Tribune Staff PELHAM A company named after a small hawk received feed to fly in its search for markets Friday. Accipiter Radar Technology Inc., known for its bird-detection systems at airports, received a $1.6- million loan from the federal government's Community Adjustment [...] (Sun, 16 May 2010 20:54:08 -0700)

Mortgage aid firm eyes job site in Silver City
A Chicago-based investment firm specializing in foreclosure-prevention services is considering buying a downtown building to accommodate as many as 100 employees, according to Mayor Charles Crowley and U.S. Rep. Barney Frank, D-Mass. (Sun, 16 May 2010 20:56:42 -0700)

Government to cover 25 percent of leaky home repair bill
The Government is relying on local mayors to support a multi-billion rescue package for leaky home owners. (Sun, 16 May 2010 21:11:03 -0700)

Amy Hoak's Home Economics: More homeowners choose to default on loans
Strategic defaults are on the rise as more borrowers who are underwater on their home loans decide its not worth it to stay current on their payments each month. That trend could have repercussions for the housing market, and for borrowers, in the future. (Sun, 16 May 2010 21:13:59 -0700)

Mortgage borrowing 'recovering'
Mortgage borrowing by house buyers is recovering, the Council of Mortgage Lenders says. (Mon, 17 May 2010 02:19:49 -0700)

How to overcome refinancing hurdles
Refinancing your mortgage can be a struggle. These tips will help you through it. (Mon, 17 May 2010 03:00:00 -0700)

HARP refinance: one homeowner's success story
How six months of tenacity -- and a little screaming -- earned a HARP refinance for one homeowner. (Mon, 17 May 2010 03:00:00 -0700)

Homeowner should resist ARM refi
Uncertain about selling? If so, resist the lure of an adjustable-rate mortgage refinance. (Mon, 17 May 2010 03:00:00 -0700)

Before you refinance a home
Is refinancing your home the best option for you? Read on to learn more about refis. (Mon, 17 May 2010 03:00:00 -0700)

HARP refinance: one homeowner's success story
A HARP refi isn't always fast and easy. Ask Joseph DeLucia, who got a mortgage refinance under the Home Affordable Refinance Program. From application to closing, the process took six months. (Mon, 17 May 2010 04:34:45 -0700)

Refinancing Rule of 5s: Deciding If Refinancing Is Worth It
Have you heard? Mortgage rates hit their lowest point of the year last week. Wow, every time I think they can't go any lower and just have to start climbing soon, rates go down. Again. That probably has many of you wondering whether it's worth it to refinance your mortgage when it's probably already at an enviable rate by historical standards. Mortgage - Refinancing - Financial services ... (Mon, 17 May 2010 07:32:36 -0700)

HMU sells loan notes to fund utility projects
HARLAN -- Bids came in lower than expected for two electric capital loan note sales that will fund the Harlan Municipal Utilities underground project and new office building, as well as refinance loan debt in an effort to save dollars. (Mon, 17 May 2010 08:20:09 -0700)

Gov't mortgage plan aids 25 percent of borrowers
The Obama administration's main mortgage assistance plan has provided permanent relief to 25 percent of borrowers enrolled, but nearly as many have dropped out. (Mon, 17 May 2010 10:00:32 -0700)

Dropouts rise in home loan modification program
The number of homeowners dropping out of the Obama administration's main mortgage assistance plan is growing, and is now almost equal to the number who have received permanent relief. (Mon, 17 May 2010 10:13:58 -0700)

A Case for Ending the Mortgage Interest Deduction
Last week Shaun Donovan, who runs the Department of Housing and Urban Development, said that it might make sense to modify the mortgage interest tax deduction. Sacrilege! (Mon, 17 May 2010 10:23:00 -0700)

Borrowers flunking out of trial mortgage modifications
The number of troubled homeowners falling out of President Obama's foreclosure rescue plan soared in April. (Mon, 17 May 2010 10:24:18 -0700)

Gov't mortgage plan aids 25 percent of borrowers
The Obama administration's main mortgage assistance plan has provided permanent relief to 25 percent of borrowers enrolled, but nearly as many have dropped out. The Treasury Department says that as of last month, 299,000 homeowners out of 1.2 million who... Mortgage - Presidency of Barack Obama - United States Department of the Treasury - Business - United States (Mon, 17 May 2010 10:37:22 -0700)

Mortgage Plan Provides Permanent Relief
WASHINGTON (AP) - The Obama administration's main mortgage assistance plan has provided permanent relief to 25 percent of borrowers enrolled, but nearly as many have dropped out. The Treasury Department says that as of last month, 299,000 homeowners out of 1.2 million who started the program since its March 2009 launch had received permanent loan modifications. Under the program, banks reduce ... (Mon, 17 May 2010 10:57:13 -0700)

WSJ:Nearly 25% Of Borrowers Fall Out Of Loan-Modification Plan
WSJ:Nearly 25% Of Borrowers Fall Out Of Loan-Modification Plan (Mon, 17 May 2010 11:06:04 -0700)

Home resales cool in April, listings climb
Canadian home resales slowed in April from the previous month while new listings climbed, suggesting the country's real estate market could soon start to cool after a year of surging prices. (Mon, 17 May 2010 11:12:07 -0700)

Spike seen in number of homeowners who lost federal mortgage aid
The number of homeowners who lost their mortgage aid under a federal foreclosure prevention program nearly doubled last month, according to Treasury data released Monday. (Mon, 17 May 2010 11:22:00 -0700)

City director over home improvement program resigns
The director of the troubled Anniston Development Department has resigned in the midst of an investigation by the Department of Housing and Urban Development into the oversight of the city departments home improvement loan program. (Mon, 17 May 2010 11:34:32 -0700)

Will low rates spur spring home sales?
Interest rates still at rock bottom. Will that spark spring home sales? You can thank the Greeks. In a development that really wasnt expected just a month ago , when the Federal Reserve stopped propping up the mortgage backed securities market, interest rates have actually been falling of late. (Mon, 17 May 2010 11:43:51 -0700)

More drop out of mortgage modification program
The number of homeowners dropping out of the Obama administration's main mortgage assistance plan is growing, and is now almost equal to the number who have received permanent relief. (Mon, 17 May 2010 11:54:37 -0700)

Risky Mortgage Securities Safer Haven as Europe Roils Markets
May 17 (Bloomberg) -- U.S. debt investors would have been better off eschewing high-yield company bonds in favor of risky mortgage securities before Europes sovereign-debt crisis intensified this quarter. (Mon, 17 May 2010 11:55:45 -0700)

Greece's debt crisis pushes down mortgage rates here
Many consumers may not be able to take advantage Eileen Ambrose: Many home owners may not be able to take advantage (Mon, 17 May 2010 12:48:30 -0700)

Greece's debt crisis pushes down mortgage rates here
Many consumers may not be able to take advantage Blame Greece's debt crisis for contributing to the recent drop in your stock portfolio, but give it credit for something that could benefit consumers: lower mortgage rates. (Mon, 17 May 2010 12:51:21 -0700)

Number Of Wells Fargo Trial Mortgage Modifications Falls
Number Of Wells Fargo Trial Mortgage Modifications Falls (Mon, 17 May 2010 13:05:09 -0700)

Lawyer advises leaky home clients against package
The package to help fix leaky homes is not good enough, a lawyer for leaky home owners says. (Mon, 17 May 2010 13:12:36 -0700)

Permanent home-loan modifications under Obama program jump 30% in April
But nearly a quarter of trial modifications have been canceled, largely because they had been granted without verifying the homeowners' income. A verification requirement takes effect June 1. The Obama administration said Monday that its program to prevent foreclosures gained ground in April as more homeowners won permanently reduced monthly payments. (Mon, 17 May 2010 13:45:45 -0700)

U.S. Mortgage Program Stalling, Data Shows
After growing during the winter months, the number of homeowners enrolling in a program to lower their payments was flat in April. (Mon, 17 May 2010 13:50:08 -0700)

HFF Arranges $13.2M for Herndon Office Building
HFF has arranged a $13.2 million first mortgage refinancing for Dulles Creek, an 87,562-square-foot,... (Mon, 17 May 2010 13:51:48 -0700)

Fitch Takes Various Actions on Key Commercial Mortgage 2007-SL1
NEW YORK----Fitch Ratings downgrades, assigns Loss Severity ratings and Rating Outlooks to Key Commercial Mortgage Securities Trust 2007-SL1 as follows: (Mon, 17 May 2010 13:57:00 -0700)

Wells Fargo April Mortgage Modifications Decline
Wells Fargo mortgage modifications fall in April, as thousands slip out of US program (Mon, 17 May 2010 14:31:46 -0700)

Personal Finance Daily: So you want to rip up your mortgage contract
A small but growing portion of mortgage-loan defaults are from homeowners who can afford to make their monthly payment but choose not to because their home's value has fallen off a cliff and they've decided to invest their money elsewhere (Mon, 17 May 2010 14:44:13 -0700)

Previous 1 2 3 4 Next

---

Feb 2012 | Jan 2012 | Dec 2011 | Nov 2011 | Oct 2011 | Sep 2011 | Aug 2011 | Jul 2011 | Jun 2011 | May 2011 | Apr 2011 | Mar 2011 | Feb 2011 | Jan 2011 | Dec 2010 | Nov 2010 | Oct 2010 | Sep 2010 | Aug 2010 | Jul 2010 | Jun 2010 | May 2010 | Apr 2010 | Mar 2010 | Feb 2010 | Jan 2010 | Dec 2009 | Nov 2009 | Oct 2009 | Sep 2009 | Aug 2009 | Jul 2009 | Jun 2009 | May 2009 | Apr 2009 | Mar 2009 | Feb 2009 | Jan 2009 | Dec 2008 | Nov 2008 | Oct 2008 | Sep 2008 | Aug 2008 | Jul 2008 | Jun 2008 | May 2008 | Apr 2008 | Mar 2008 | Feb 2008 | Jan 2008 | Dec 2007 | Nov 2007 | Oct 2007 | Sep 2007 | Aug 2007 | Jul 2007 | Jun 2007 | May 2007 | Apr 2007 | Mar 2007 | Feb 2007 | Jan 2007 | Dec 2006 | Nov 2006 | Oct 2006 | Sep 2006 | Aug 2006 | Jul 2006 | Jun 2006 | May 2006 | Apr 2006 | Mar 2006 | Feb 2006

online health insurance | realtor | vehicle donation information | long term elder care | pet loss site | skin care | find alternative medicine | here | gift | nightlife guide | online loan finder | cars | real estate builder | wedding service directory | cool UK site | click here | directory of realtors | security home | plastic surgery site | Bankruptcy Guide | accounting site | buy insurance | addiction treatment centers | mortgages | car rental site