Mortgage News May 2010

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New report: Florida second in nation for loan modifications
Florida's borrowers in trial and permanent loan modificaitons, representing 12.3 percent of the nation's total. For the second month in a row, Florida had the second highest number of loan-mortgage modifications among the states under the Obama Administration's Making Home Affordable program in April. (Mon, 17 May 2010 15:11:02 -0700)

New report: Florida second in nation for loan modifications
Florida's borrowers in trial and permanent loan modifications represent 12.3 percent of the nation's total. For the second month in a row, Florida had the second highest number of loan-mortgage modifications among the states under the Obama Administration's Making Home Affordable program in April. (Mon, 17 May 2010 15:27:06 -0700)

Refinancing? You may need new tactic
The cash-out mortgage refinance has fallen out of fashion. Thanks to rock-bottom interest rates, the cash-in refinance is now in vogue. (Mon, 17 May 2010 15:50:11 -0700)

Home Front: Permanent loan modifications rising slowly in Sacramento
Slightly more than 5,000 struggling borrowers in El Dorado, Placer, Sacramento and Yolo counties have received permanent mortgage modifications, reports the newest look at April loan modification data from the U.S. Treasury Department . (Mon, 17 May 2010 16:49:12 -0700)

More homeowners dropping out of mortgage aid 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.As of last month, more than 299,000 homeowners had received permanent loan modifications a 13 percent increase from March, including 14,890 homeowners in the Chicago metropolitan area, the Treasury Department said ... (Mon, 17 May 2010 17:31:41 -0700)

A fight for the hero's home: One loan-modification saga
She has heard a variety of excuses, and dealt with months of what she says are stall tactics. Now the wife of a slain soldier is about to lose her home to a company that took millions from taxpayers. (Mon, 17 May 2010 17:48:06 -0700)

More homeowners dropping out of mortgage aid 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.As of last month, more than 299,000 homeowners had received permanent loan modifications a 13 percent increase from March, including 14,890 homeowners in the Chicago metropolitan area, the Treasury Department said ... (Mon, 17 May 2010 22:31:57 -0700)

MWP Loan Finder Debuts a Quick and Easy Method to Refinancing Home Loans
Founder of MWPLoanFinder.com, Mary Porter is pleased to announce the launch of her web stores brand-new, interactive blog, MWPLoanFinderBlog.com. Created as a counterpart to her website, the blog will feature posts about the latest news in the world of finance as well as define common terminology used in finance to keep customers educated and informed. Stop in today for a free financial quote! (Tue, 18 May 2010 00:00:00 -0700)

Five ways to do successful home loan mod
There's no simple formula for homeowners to follow in completing a loan modification. Housing counselors agree, it's a long, frustrating process. But they say there are certain things you can do to give yourself a better chance at lower payments. (Tue, 18 May 2010 00:01:23 -0700)

Wells Fargo to restructure family's home loan
A Sanford woman says lending giant Wells Fargo has stopped foreclosure proceedings against her family and is restructuring their home loan. The Fayetteville Observer featured Linda Coombs and her family in a story Saturday. (Tue, 18 May 2010 03:25:24 -0700)

There's no such thing as 'VA home loan'
I hope this column can help clear up the misconception that many veterans have about the so-called VA home loan. The actual name of the program is the Home Loan Guaranty, which is what it really does. The Department of Veterans Affairs does not give home loans to veterans or anyone else. (Tue, 18 May 2010 03:51:17 -0700)

Loan sharks break into couple's house, cart away goods for not settling loan
Tuesday, May 18th, 2010 18:38:00 KUALA LUMPUR: Loan sharks were believed to have broken into a couple's house at the People's Housing Project (PPR) in Raya Permai, Sungai Besi and cart away electronic items, for a delay in settling a loan, taken just two weeks ago. The victim, Yong Chong Ling, 28, said on Friday she and her husband returned home after spending two days at her sister's house in ... (Tue, 18 May 2010 03:54:47 -0700)

Chase slow to process Summit woman's mortgage refinance
Frank H. Conlon/For The Star-LedgerKristina Ricicki has been fighting with Chase over a fee she paid to refinance the mortgage for her Summit home. Kristina Ricicki wanted in on the refinance boom. She bought her Summit condo in 2004 with... (Tue, 18 May 2010 04:13:02 -0700)

Home Depot 1Q net income up on seasonal items
Home Depot Inc.'s fiscal first-quarter net income surged 41 percent as shoppers snatched up seasonal items and the number of customer transactions rose. (Tue, 18 May 2010 04:37:38 -0700)

More Homeowners Home Loan Modifications Denied, Announces American Residential Law Group
According to American Residential Law Group, an increasing number of homeowners have had their home mortgage modification denied. (Tue, 18 May 2010 05:00:00 -0700)

EILEEN AMBROSE 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. (Tue, 18 May 2010 05:28:54 -0700)

PRESS RELEASE: Fitch: Kion Mortgage Finance PLC Ratings
PRESS RELEASE: Fitch: Kion Mortgage Finance PLC Ratings (Tue, 18 May 2010 06:04:59 -0700)

Illinois Mutual Life Insurance Company Joins the Federal Home Loan Bank of Chicago
The Federal Home Loan Bank of Chicago welcomes Illinois Mutual Life Insurance Company as its newest member. (Tue, 18 May 2010 07:40:00 -0700)

Illinois Mutual Life Insurance Company Joins the Federal Home Loan Bank of Chicago
read more (Tue, 18 May 2010 07:51:11 -0700)

Home Loan Modification Program Slowly Helping
The push for loan modifications across South Florida is paying off for thousands of homeowners. Around 13,000 South Florida homeowners have been granted permanent lower monthly mortgage payments through President Obama's foreclosure prevention program, according to CBS4 news partner the Miami Herald. (Tue, 18 May 2010 08:05:25 -0700)

Taubman Centers to refinance construction loan on Partridge Creek
Bloomfield Hills-based Taubman Centers Inc. (NYSE:TCO) will refinance its construction loan on the Mall at Partridge Creek with a $77 million CMBS loan, according to industry reports. (Tue, 18 May 2010 09:08:09 -0700)

Firm Capital Mortgage Investment Trust Announces Monthly Cash Distributions
Firm Capital Mortgage Investment Trust (the "Trust") (TSX: FC.UN), announced its monthly cash distribution of $0.078 per unit for the Unit holders of record as per the following: read more (Tue, 18 May 2010 09:21:36 -0700)

DAVE BARNACLO JOINS ROSS MORTGAGE AS DIRECTOR OF ASSOCIATE BRANCH DEVELOPMENT
CINCINNATI Dave Barnaclo has joined the Cincinnati, Ohio office of Ross Mortgage Corporation as the director of associate branch development. Tim Ross, president of Ross Mortgage Corporation, made the announcement. (Tue, 18 May 2010 10:33:02 -0700)

Business : SCB launches new mortgage facility
DUBAI Standard Chartered Bank (SCB) has launched a new mortgage facility in the UAE after customer-based research highlighted high-net-worth individuals did not have access to a mortgage offering that met with their needs. (Tue, 18 May 2010 12:24:49 -0700)

Take This Mortgage and Shove It!
New research could show a way to curb strategic foreclosures. (Tue, 18 May 2010 12:34:26 -0700)

(AFX UK Focus) 2010-05-18 20:13 US 30-yr mortgage rates drop in latest week-Zillow
By Julie Haviv (Tue, 18 May 2010 12:35:07 -0700)

LS woman pleads guilty to mortgage fraud conspiracy
A Lees Summit woman and former real estate agent pleaded guilty in federal court to her role in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Lees Summit and Raymore, according to Beth Phillips, United States Attorney for the Western District of Missouri. (Tue, 18 May 2010 15:33:05 -0700)

Five Ozarks residents sentenced for their roles in $1.2 million mortgage scheme
Five Ozarks residents were sentenced in federal court Monday for their part in a $1.2 million mortgage scheme. (Tue, 18 May 2010 17:25:16 -0700)

3 charged in downtown condo mortgage case
Three Houston area residents were arrested in connection with alleged mortgage fraud at a condo building in downtown Houston. (Tue, 18 May 2010 17:42:54 -0700)

3 area residents charged in mortgage case
Three Houston-area residents have been indicted in connection with alleged mortgage fraud at a condo building in downtown Houston. (Tue, 18 May 2010 22:57:54 -0700)

Schumacher Homes Offers FHA Loan Financing Deals for New Home Construction
Schumacher Homes, with its nearly two decade track record of quality home construction, is pleased to offer consumers this special custom home financing opportunity with as little as 3.5% down. (Wed, 19 May 2010 00:01:00 -0700)

Tips for getting a mortgage loan modification
Getting a mortgage loan modification takes work. Experts suggest tips that can lead to success. (Wed, 19 May 2010 03:00:00 -0700)

Is it wrong to walk away from a mortgage you can still pay?
More people are walking away from their homes not because they can't make the mortgage payments, but because they no longer want to. But is it the moral thing to do? (Wed, 19 May 2010 03:10:52 -0700)

Bowling Green loan firm fined for appraisal violation
A mortgage loan company in Bowling Green has been fined $1,000 by the Ohio Department of Commerces division of financial institutions for attempting to influence an appraisal of a house in Toledo on which the mortgage was being refinanced. Limes Financial Funding Ltd. of 990 West Poe Rd. has agreed to pay the fine for the incident in May, 2008, involving appraiser Dan Bukowski. Mr. Bukowski was ... (Wed, 19 May 2010 03:36:34 -0700)

US: MBA Mortgage Applications fall slightly over last week
FXstreet.com (Barcelona) - Mortgage applications fell modestly by 1.5% the week ending May 14 compared to a rise of 3.9% the week prior. The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. (Wed, 19 May 2010 04:05:32 -0700)

Low Rates Lead To Mortgage Overpayment Rise
Twice as many people with a variable rate mortgage are made overpayments on their loans last year than in 2008, the UK's biggest mortgage lender has said. (Wed, 19 May 2010 04:15:49 -0700)

U.S. MBA Mortgage Applications Index Fell 1.5% Last Week
May 19 (Bloomberg) -- The number of mortgage applications in the U.S. dropped last week, depressed by the biggest plunge in purchases since 1997, as the expiration of a homebuyers tax credit drove away buyers. (Wed, 19 May 2010 04:29:04 -0700)

Tips for getting a mortgage loan modification
Getting a mortgage loan modification might seem like a quest only a mythic hero could achieve. After all, the ranks of those who've lost homes in foreclosure dwarf the number of homeowners who've received mortgage help. (Wed, 19 May 2010 04:39:01 -0700)

5 ordered to pay in mortgage fraud case
Five people were sentenced in federal court Monday and ordered to pay restitution for their parts in a $1.2 million mortgage fraud scheme. (Wed, 19 May 2010 04:40:24 -0700)

MBA: Mortgage Purchase Applications 'Plummet' to 13 Year Low
The Market Composite Index, a measure of mortgage loan application volume, decreased 1.5 percent on a seasonally adjusted basis from one week earlier.... (Wed, 19 May 2010 04:51:06 -0700)

US Mortgage Application Volume Fell 1.5% Last Week -MBA
US Mortgage Application Volume Fell 1.5% Last Week -MBA (Wed, 19 May 2010 05:05:59 -0700)

Loan demand to buy homes sinks to 13-year low
Demand for loans to buy U.S. homes shriveled to a 13-year low last week, following the expiration of federal tax credits, while near-record low mortgage rates stoked refinancing, the Mortgage Bankers Association said on Wednesday. (Wed, 19 May 2010 07:56:51 -0700)

Mortgage Demand Sinks To 13-Year Low
National demand for loans to buy homes shriveled to a 13-year low last week, following the expiration of federal tax credits, while near-record low mortgage rates stoked refinancing, the Mortgage Bankers Association said on Wednesday. (Wed, 19 May 2010 08:05:12 -0700)

"Mortgage Grade(SM)" Launches to Help Consumers Find the Best Mortgage for Which They Qualify
SAN FRANCISCO, CA--(Marketwire - 05/19/10) - Home-Account, Inc., the company behind Refinance.com that's been praised by The New York Times, BusinessWeek and CNET for fairness, accuracy and consumer advocacy, today announced the syndicated availability on leading mortgage-related sites of Mortgage Grade(SM) , a free, easy-to-use, consumer-oriented analytics service that helps homeowners find and ... (Wed, 19 May 2010 11:22:00 -0700)

"Mortgage Grade(SM)" Launches to Help Consumers Find the Best Mortgage for Which They Qualify
Home-Account, Inc., the company behind Refinance.com that's been praised by The New York Times, BusinessWeek and CNET for fairness, accuracy and consumer advocacy, today announced the syndicated availability on leading mortgage-related sites of Mortgage Grade(SM), a free, easy-to-use, consumer-oriented analytics service that helps homeowners find and lock in the lowest-cost mortgages for which ... (Wed, 19 May 2010 11:34:40 -0700)

"Mortgage Grade(SM)" Launches in Syndication on Leading Mortgage Sites
SAN FRANCISCO, CA--(Marketwire - 05/19/10) - Home-Account, Inc., the company behind Refinance.com that's been praised by The New York Times, BusinessWeek and CNET, today announced the availability in syndication of Mortgage Grade(SM) , a free, easy to use analytics service that helps homeowners find the lowest-cost mortgages for which they qualify. Mortgage Grade is syndicated to leading ... (Wed, 19 May 2010 11:50:00 -0700)

"Mortgage Grade(SM)" Launches in Syndication on Leading Mortgage Sites
Home-Account, Inc., the company behind Refinance.com that's been praised by The New York Times, BusinessWeek and CNET, today announced the availability in syndication of Mortgage Grade(SM), a free, easy to use analytics service that helps homeowners find the lowest-cost mortgages for which they qualify. Mortgage Grade is syndicated to leading mortgage-oriented websites to help those sites build ... (Wed, 19 May 2010 12:04:20 -0700)

Summary Box: Mortgage delinquencies increase
MORTGAGE TROUBLES RISE: More than 10 percent of homeowners had missed at least one mortgage payment at the end of March, a record high the Mortgage Bankers Association says. (Wed, 19 May 2010 12:37:37 -0700)

Mortgage delinquencies drag on economic recovery
The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments. (Wed, 19 May 2010 13:09:23 -0700)

SBP extends its teaser loan scheme
State Bank of Patiala has extended its teaser rate scheme of 8% on Home Loan and also re-introduced Ezee Car Loan Scheme till 30 th June, 2010. (Wed, 19 May 2010 13:59:04 -0700)

Congressman Gus Bilirakis offers mortgage help
Having problems making your mortgage payment? Lenders and housing counselors will offer advice at a free home foreclosure assistance workshop Saturday from 10 a.m. to 1 p.m. at Freedom High School. (Wed, 19 May 2010 15:08:06 -0700)

Summary Box: Mortgage sale details divide Fed
LOTS OF VIEWS: Federal Reserve officials at their April meeting were divided over when the Fed should start shedding some of its vast portfolio of mortgage securities. There's also the challenge of doing it in a way that doesn't jack up mortgage rates. (Wed, 19 May 2010 15:31:18 -0700)

Delinquent-loan numbers may signal economic recovery
The tide of home-loan delinquencies finally may be ebbing, with the Mortgage Bankers Association reporting Wednesday that the combined percentage of home loans in foreclosure or with at least one payment past due declined to 14 percent in the first quarter of this year from 15.02 percent in the fourth quarter of 2009. (Wed, 19 May 2010 18:57:44 -0700)

10% of homeowners missed a mortgage payment in Q1
The number of homeowners who missed at least one payment on their mortgage surged to a record in the first quarter of the year. (Wed, 19 May 2010 19:37:37 -0700)

Developer asks city for another loan, of $19.2 million
CIM Group says it needs more money to complete Midtown Crossing, a long-delayed shopping center anchored by Lowe's. The loan would be repaid from various taxes generated by the project. Stung by the recession, one of the most prominent developers in Los Angeles is turning to the city for an additional $19.2 million to bring a long-delayed Lowe's Home Improvement store to Mid-City. (Wed, 19 May 2010 23:47:24 -0700)

Mortgage Data Leaves Bankers Uncertain of Trend
Any way you look at it, extraordinary numbers of people are having trouble paying their mortgage. What is less clear is the extent to which the problem is getting worse, better or is simply holding its own. (Wed, 19 May 2010 23:58:36 -0700)

Fading of inflation keeps rates low and makes it cheaper to buy a car or refinance a mortgage
WASHINGTON - It's a good time to buy a car, refinance a mortgage, hit the road or shop for clothes. Invest in a saving account? Forget it. Consumer inflation has all but disappeared, the government reported Wednesday. (Thu, 20 May 2010 01:58:59 -0700)

Mortgage event rescues 7,000
More than 7,000 homeowners at risk of foreclosure were able to land same-day mortgage modification or forbearance agreements with lenders at a five-day, 24-hour-a-day home Save-A-Thon event that concluded at McCormick Place on Monday, planners said. Most of the agreements were mortgage modifications, according to the nonprofit Neighborhood Assistance Corp. of America, which held the event that ... (Thu, 20 May 2010 02:01:32 -0700)

Licensed moneylenders watched closely to prevent loan sharking
MORE licensed moneylenders have set up shop here in the last two years, but this is not due to loan sharks trying to escape tougher laws against them, Senior Minister of State for Law and Home Affairs Ho Peng Kee said yesterday. (Thu, 20 May 2010 02:07:30 -0700)

Mortgage defaults a drag on economic recovery
The mortgage crisis is dragging on the economic recovery as more home owners fall behind on their payments. (Thu, 20 May 2010 02:21:46 -0700)

'Cash-in' refinance activity skyrockets
Homeowners chasing low mortgage rates have made the "cash-in" refinance the latest rage. (Thu, 20 May 2010 03:00:00 -0700)

Mortgage rates plunge to all-time low
Europe's debt crisis helps push mortgage rates to their lowest level in more than a half-century. (Thu, 20 May 2010 03:00:00 -0700)

Supersaver does not need mortgage recast
A homeowner who paid thousands in extra principal payments doesn't need a mortgage recast. (Thu, 20 May 2010 03:00:00 -0700)

Florida had the second highest number of loan-mortgage modifications among the states
By Harriet Johnson Brackey, Sun Sentinel, Fort Lauderdale, Fla. For the second month in a row, Florida had the second highest number of loan-mortgage modifications among the states under the Obama administration's Making Home Affordable program in April. (Thu, 20 May 2010 03:13:11 -0700)

Bankrate: Mortgage Rates Hit Record Low
Mortgage rates continue to drop this week, with the average conforming 30-year fixed mortgage rate falling to 4.96 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.50 discount and origination points. (Thu, 20 May 2010 04:30:00 -0700)

Mortgage rates plunge to all-time low
Mortgage rates fell this week to the lowest level in generations. The benchmark 30-year fixed-rate mortgage fell 11 basis points this week, to 4.96 percent, according to the Bankrate.com national survey of large lenders. (Thu, 20 May 2010 04:34:41 -0700)

Mortgage Rates Fall Below 5%, Survey Says
Mortgage Rates Fall Below 5%, Survey Says (Thu, 20 May 2010 05:06:56 -0700)

Fading of inflation keeps rates low and makes it cheaper to buy a car or refinance a mortgage
WASHINGTON (AP) It's a good time to buy a car or refinance a mortgage, thanks to super-low inflation and interest rates. (Thu, 20 May 2010 06:50:28 -0700)

U.S. mortgage rates sink further
Continued uncertainty in Europe and low inflation at home push the average interest rate for a 30-year loan to 4.84%, Freddie Mac survey shows. Mortgage rates continued their slide toward record lows this week as fallout from the European debt crisis and dormant inflation proved to be boons for Americans buying or refinancing homes. (Thu, 20 May 2010 18:47:26 -0700)

VA Home Loan Program Remains Healthy Despite Housing Market Woes
read more (Fri, 21 May 2010 06:21:39 -0700)

Loan fund for green home-fixes on track
KITTERY, Maine In time for fall home improvement plans, residents in six southern York County towns are soon expected to be able to apply for a low-interest loan available through a federal grant. (Fri, 21 May 2010 11:18:01 -0700)

The Mortgage Professor: 'Lease-to-own' arrangements gain traction in shaky market
To see if there has been any significant change in readers' interests since the onset of the financial crisis, I recently compared the Web pages that visitors to my Web site looked at in April, as compared to the pages they accessed in April 2006 just before it began. Mortgage - Financial services - Business - United States - Loan (Fri, 21 May 2010 21:00:00 -0700)

Anger at the root of mortgage default problem, study finds
Memo to the bank: Take this money-sucking, underwater house and shove it! Go ahead and wreck my credit for years to come. I'm walking away, no matter what. Mortgage - United States - Business - Financial Services - Loan (Fri, 21 May 2010 21:00:00 -0700)

Home loan modifications prove to be a test of patience for some metro Detroit families
It takes stamina and patience to attempt a loan modification, say those who have tried. Here are two stories: Patsy McLean, 71, of Lincoln Park called her bank for information about a loan modification in December and said she ended up enrolled without her knowledge or consent. (Sun, 23 May 2010 01:43:16 -0700)

Mortgage Approved Has Easy to Understand Step by Step Guide for your Financial Freedom
Wonder what it would be like to have a home of your own and even a property that you could lend out. That would certainly be the end of your financial worries. Well you can actually Get Approved For Mortgage in the most easiest and quickest of manners possibly if you do all the right things. (Sun, 23 May 2010 16:29:05 -0700)

Home Mortgage Options
Have you been looking to buy a home? Wondering what are the best home mortgage options? In this article, you will soon discover the information you need to be able to find the best home mortgage options! (Sun, 23 May 2010 16:59:05 -0700)

Mortgage rates drop; many experts expect volatile year
Mortgage rates hit a new record low in the weekly Bankrate.com survey, with the average 30-year fixed-rate mortgage dropping 11 basis points, to 4.96 percent. The rate is the lowest in the nearly 25-year history of the weekly survey. (Sun, 23 May 2010 22:16:33 -0700)

Mortgage-rate rise means borrowers' party is almost over
EDMONTON Without announcing last call, Canadian banks have taken the punch bowl away from the mortgage party that millions have enjoyed, and hangovers are looming. (Sun, 23 May 2010 22:42:10 -0700)

Lenox Financial's Mortgage Concept Of Lender Paid Up Front Costs Worth A Look
Americas Watchdog is endorsing Lenox Financial's up front closing cost approach as ethical and a very sound approach for financing or refinancing a home. (Mon, 24 May 2010 00:00:00 -0700)

Lenox Financial's Mortgage Concept Of Lender Paid Up Front Costs Worth A Look
Americas Watchdog is endorsing Lenox Financial's up front closing cost approach as ethical and a very sound approach for financing or refinancing a home. The Lenox Financial approach is very simple--pay a slightly higher interest rate, and your closing costs get paid by the lender. The group says, "most homeowners do not have the $5000-$10,000 needed to close a home loan. With the Lenox ... (Mon, 24 May 2010 00:22:06 -0700)

Home equity loan may beat cash-out refinance
The math suggests one homeowner should choose a home equity loan over a cash-out refinance. (Mon, 24 May 2010 03:00:00 -0700)

Mortgage Loan Modification and Credit Scores
A mortgage loan modification can prevent foreclosure but inevitably will damage your credit. (Mon, 24 May 2010 05:49:26 -0700)

Home equity loan may beat cash-out refinance
The math suggests one homeowner should choose a home equity loan over a cash-out refinance. (Mon, 24 May 2010 05:49:43 -0700)

3 tips for using the mortgage GFE
Following these three tips for using good faith estimate can help you trim mortgage costs. (Mon, 24 May 2010 05:49:46 -0700)

Mortgage Rates: Up, No Wait Down
Once again, the wisdom of crowds doesn't look so smart. A few months ago the prevailing wisdom was that mortgage rates were headed up. Why? Well, for so many reasons. Government borrowing was going to push up interest rates. The economy was recovering. And of course, we were soon going to be hit by massive [...] (Mon, 24 May 2010 07:53:12 -0700)

FHA Home-Financing Volume Sign of Very Sick System
Loans guaranteed by the Federal Housing Administration, the U.S.-owned mortgage insurer, may be involved in more home-purchase transactions than borrowing financed by Fannie Mae and Freddie Mac. (Mon, 24 May 2010 09:38:29 -0700)

Mortgage Rates at New Lows, Thanks to Europe's Debt Crisis
"It's the best time in our generation to buy," says Mark Zandi, chief economist at Moody's. "Mortgage rates are so low and with homes prices down and lots of inventory, you couldn't pick a better time to buy or re-finance." (Mon, 24 May 2010 09:44:26 -0700)

Tax credit and low mortgage rates boost home sales
Economists expect slowdown in housing (Mon, 24 May 2010 10:10:06 -0700)

theGrio: Financial reform may not stop mortgage scams
Though the watchdog component of the new bill, the Consumer Financial Protection Bureau, will have an ability to develop and enforce new rules governing mortgage lending, it may end up doing little to protect consumers from mortgage-related scams, particularly those aimed at foreclosure rescue. (Mon, 24 May 2010 13:21:11 -0700)

Tax credit and low mortgage rates boost home sales
A now-expired homebuyer tax credit and low mortgage rates helped boost sales of previously occupied homes in April. The improvements aren't likely to last. (Mon, 24 May 2010 14:26:12 -0700)

Realtors back bill: Proposal aims to protect homeowners from lawsuits
May 24--SAN GABRIEL VALLEY -- Realtors are at odds with the banking industry over what they say is a loophole in state law that allows home mortgage lenders to sue borrowers for the loss in a home's value if the home was refinanced. (Mon, 24 May 2010 15:27:45 -0700)

Summary Box: Home sales rise but may soon fizzle
HOME SALES RISE: A now-expired homebuyer tax credit and low mortgage rates helped boost sales of previously occupied homes by 7.6 percent in April. (Mon, 24 May 2010 15:33:53 -0700)

Summary Box: Home sales rise but may soon fizzle
HOME SALES RISE: A now-expired homebuyer tax credit and low mortgage rates helped boost sales of previously occupied homes by 7.6 percent in April. MORTGAGE RATES FALL: Worries over the European debt crisis have sent investors into the safety of U.S. Treasury... (Mon, 24 May 2010 15:59:12 -0700)

Knicks' Curry ordered to pay $1.2 million debt
New York Knicks center Eddy Curry defaulted on a $570,000 personal loan while keeping up a lifestyle that included a $17,000-a-month suburban New York home, a $6,000-a-month personal chef and a dozen cars he'd bought for himself and relatives, a judge said. On Friday, a Manhattan court ordered Curry to pay $75,000 a month to lender Allstar Capital Inc. (Mon, 24 May 2010 16:05:25 -0700)

Existing-Home Sales Jump On Tax Credit
Home resales rose more than expected to a five-month high in April thanks to the expiring homebuyer tax credit, an industry report said Monday. But the glut of homes on the market grew, and sales should soon slow with the end of government support. (Mon, 24 May 2010 16:16:00 -0700)

Auto loan payments show sharp improvement in 1Q
Late payments on auto loans dropped sharply in the first three months of the year compared with the same period in 2009, reflecting both tighter lending standards and consumers' improved payment habits. The delinquency rate for payments that were 60 days or... Loan - Home - Personal Finance - Money Management - Financial services (Mon, 24 May 2010 17:44:02 -0700)

Paying off a mortgage is the best course
Paying off a mortgage is the best course (Mon, 24 May 2010 17:45:33 -0700)

Monthly mortgage repayments fall by 700
HOMEOWNERS are spending almost 700 less per month on their mortgage repayments, but experts said it has never been harder to get a home loan. (Mon, 24 May 2010 17:54:31 -0700)

WATCH: Historically Low Mortgage Rates
Last month real estate sales jumped 7.5 percent, while mortgage rate plunged. Mortgage - Real estate - Business - Financial Services - United States (Mon, 24 May 2010 18:38:09 -0700)

Tax credit, low mortgage rates boost home sales
Homebuyers rushed to take advantage of government incentives and low mortgage rates in April, giving the housing market its biggest boost in five months. (Mon, 24 May 2010 19:43:23 -0700)

San Diego mortgage defaults decreasing
Mortgage defaults dipped in San Diego County last month to their lowest level since January, as distressed-property owners found alternatives to foreclosure, MDA DataQuick reported Monday. (Mon, 24 May 2010 20:13:43 -0700)

Duisburg loan move positive for Nurembergs Vidosic
Dario Vidosic has admitted his loan move from German Bundesliga club Nuremberg to second division outfit Duisburg was a positive shift. The 23-year old, who scored a second-half equaliser for Australia in their 2-1 friendly win over New Zealand in Melbourne last night, said his move to Duisburg helped him develop his game further and gave him a solid base ahead of the Socceroos World Cup camp ... (Mon, 24 May 2010 20:59:13 -0700)

Richmond man gets five years for real estate fraud
A Richmond real estate promoter who cheated at least 22 investors and three banks out of nearly $2 million was sentenced to five years in prison yesterday. Robert S. Capehart, 55, also was ordered to pay $1,967,074 in restitution to 22 victims by U.S. District Judge James R. Spencer. Capehart admitted to falsifying mortgage applications, check kiting and defrauding investors in a Ponzi scheme. (Mon, 24 May 2010 21:04:39 -0700)

Paterson Submits Bill To Loan NYRA $25 Million
New York state is expected to loan the New York Racing Association $25 million to preserve thoroughbred racing seasons at Belmont, Saratoga and Aqueduct. (Mon, 24 May 2010 21:54:13 -0700)

Bank's red tape may cost widow her home
Ever since the great financial meltdown, we've received stories, too numerous to cite individually, from homeowners who have been caught in the squeeze. For example, finding their home equity lines cut without notice and with little explanation. Or, for one... Home equity - Business - Financial Services - United States - Red tape (Mon, 24 May 2010 21:59:11 -0700)

Tax credit, low mortgage rates lifted April home sales
WASHINGTON - A now-expired homebuyer tax credit and low mortgage rates helped boost sales of previously occupied homes in April. (Tue, 25 May 2010 00:18:21 -0700)

Low mortgage rates, tax credit lift home sales in April
Homebuyers rushed to take advantage of government incentives and low mortgage rates in April, giving the housing market its biggest boost in five months. (Tue, 25 May 2010 00:20:44 -0700)

Richmond man gets 5 yrs for mortgage fraud
Associated Press - May 25, 2010 4:35 AM ET RICHMOND, Va. (AP) - A Richmond man has been sentenced to five years in prison for a mortgage fraud scheme. (Tue, 25 May 2010 01:41:42 -0700)

Richmond man gets 5 yrs for mortgage fraud
RICHMOND, Va. (AP) - A Richmond man has been sentenced to five years in prison for a mortgage fraud scheme. U.S. District Judge James R. Spencer on Monday also ordered 55-year-old Robert S. Capehart to pay nearly $2 million in restitution. (Tue, 25 May 2010 01:48:06 -0700)

Richmond man gets 5 yrs for mortgage fraud
RICHMOND, VA. A Richmond man has been sentenced to five years in prison for a mortgage fraud scheme. U.S. District Judge James R. Spencer on Monday also ordered 55-year-old Robert S. Capehart to pay nearly $2 million in restitution. Capehart pleaded guilty to one count of mail fraud in February. (Tue, 25 May 2010 02:15:42 -0700)

Underachieving Knicks scrub Eddy Curry is cooked over $570,000 personal loan from Allstar Capital
Knicks scrub Eddy Curry is having trouble paying back a $570,000 personal loan because he's got so many bills. (Tue, 25 May 2010 03:50:21 -0700)

How Derivatives Made Your Mortgage Cheaper
The most common derivatives aren't the ones you've heard about at Goldman Sachs and AIG. Instead, they help keep down borrowing costs and product prices for consumers. (Tue, 25 May 2010 04:16:22 -0700)

Mortgage crisis has slowed, not decreased
MANSFIELD In Ohio, home foreclosures have stopped going up at a rapid rate -- but they are not decreasing, according to a report Wednesday by the Mortgage Bankers Association. (Tue, 25 May 2010 04:50:05 -0700)

Is Now the Time to Refinance Your Mortgage?
Mortgage rates are nearing a 50-year low. Is now the time to refinance your rates? Mellody Hobson, "Good Morning America's" personal finance expert, appeared on the show to answer that question. Mellody Hobson - Mortgage - Personal finance - Business - United States (Tue, 25 May 2010 05:07:49 -0700)

Home Prices Dropped in March
Home prices fall 0.5 percent from February to March. Real estate pricing - Real estate economics - Real estate - Business - Residential (Tue, 25 May 2010 06:42:38 -0700)

Home prices fall 0.5 percent from February to March, a sign of a softening housing market
Home prices fell in March from the previous month, a sign of a weakening housing market despite historically low mortgage rates and now-expired tax credits. (Tue, 25 May 2010 06:43:57 -0700)

Hey, Mortgage Industry: Nobody Trusts You
The mortgage banking industry knows its not the most popular kid on the block right now, but it tried to put a positive face on the state of the industry during a convention in New York on Monday. (Tue, 25 May 2010 06:51:58 -0700)

WATCH: Should You Refinance Your Mortgage?
Mellody Hobson explains what the low rates mean for homebuyers and owners. Mellody Hobson - Business - United States - Financial services - Mortgages (Tue, 25 May 2010 07:07:49 -0700)

Home prices drop 0.5% in March, S&P says
Home prices fell in March from the previous month, according to the Standard & Poor's/Case-Shiller 20-city home price index Tuesday, which posted a 0.5% drop from February. (Tue, 25 May 2010 07:39:22 -0700)

Mortgage-Bond Spreads Widen to Seven-Month High on More Supply
May 25 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide U.S. home-loan rates widened to a seven-month high relative to Treasuries as borrowing costs near record lows led to speculation that issuance will increase. (Tue, 25 May 2010 07:40:42 -0700)

Home Prices Down In Major Cities
Home prices fell 0.5 percent in March from the previous month, a sign of a weakening housing market despite historically low mortgage rates and now-expired tax credits. Prices in 13 of the 20 cities tracked by the index fell month over month. Only six metro areas recorded price gains. One, Boston, came in flat. (Tue, 25 May 2010 08:01:37 -0700)

WATCH: Should You Refinance Your Mortgage?
Mellody Hobson explains what the low mortgage rates mean for homebuyers and owners. Mellody Hobson - Mortgage - United States - Business - Financial services (Tue, 25 May 2010 08:06:39 -0700)

Home Buyers Should Celebrate the Greek Debt Crisis
As Europe descends into crisis, mortgage rates are falling, too United States - Mortgage - Wall Street Journal - Debt - Refinancing (Tue, 25 May 2010 08:20:44 -0700)

Are the Home Loan Banks Thinking About Mergers Again?
Every now and then, observers of the Federal Home Loan Banks raise the question of whether we need these institutions. Are such thoughts now percolating in Indianapolis? (Tue, 25 May 2010 08:36:59 -0700)

Despite record low mortgage rates, home prices continue to fall
Despite record low mortgage rates, home prices continue to fall (Tue, 25 May 2010 08:49:40 -0700)

Are the Home Loan Banks Thinking About Mergers Again?
Every now and then, observers of the Federal Home Loan Banks raise the question of whether we really need 12 of these odd, government-chartered institutions scattered around the country in a geographical pattern that probably made more sense in the 1930s. Are such thoughts now percolating in Indianapolis? (Tue, 25 May 2010 09:29:39 -0700)

Falling home prices raise fears of new bottom
The housing slump isn't over. Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5 percent in March from February, according to the Standard & Poor's/Case-Shiller 20-city index released Tuesday . (Tue, 25 May 2010 09:34:06 -0700)

VA Man Sentenced to Prison for Mortgage Fraud
A Richmond man has been sentenced to five years in prison for a mortgage fraud scheme. (Tue, 25 May 2010 09:46:04 -0700)

Home ownership costs will continue to rise as higher mortgage rates set in
TORONTO - The costs associated with home ownership in Canada will continue to rise this year and in 2011 as higher mortgage rates set in before there is any substantial drop in prices, two of Canada's major banks predicted Tuesday. (Tue, 25 May 2010 09:51:00 -0700)

Home: Top Dollar
When you sit down with a loan officer to fill out a mortgage applicationmaybe you're buying a home; maybe you're refinancing your mortgage, taking advantage of today's historically low interest ratesyou learn soon enough that loan underwriters demand exactitude when assessing the creditworthiness... (Tue, 25 May 2010 10:00:00 -0700)

Canberra tries to cut cost of mortgage securities
THE federal government is trying to drive down pricing on mortgage-backed securities as part of its efforts to lower funding costs for smaller banks and other lenders and thus increase competition. (Tue, 25 May 2010 10:21:04 -0700)

Home ownership costs will continue to rise as higher mortgage rates set in
The costs associated with home ownership in Canada will continue to rise this year and in 2011 as higher mortgage rates set in before there is any substantial drop in prices, two of Canadas major banks predicted today. (Tue, 25 May 2010 10:46:38 -0700)

California Leads States With Mortgage Interest Tax Deduction
Californians that claimed the mortgage interest rate deduction saved an average of almost $20,000 from their tax bill in 2008, according to a Tax Foundation analysis of new data from the IRS. The national average among the roughly one quarter of Americans who deducted mortgage interest from their taxes was $12,221. (Tue, 25 May 2010 10:50:58 -0700)

Mortgage rates at their lowest
If you're thinking about buying a house, now might be a good time. Mortgage rates are at the lowest level of the year right now. (Tue, 25 May 2010 13:33:07 -0700)

Mortgage-Bond Spreads Narrow After Rising on Supply Concern
Yields on Fannie Mae and Freddie Mac mortgage securities that guide U.S. home-loan rates fell relative to Treasuries, after spreads widened to a seven-month high as borrowing costs near record lows led to speculation that issuance will increase. (Tue, 25 May 2010 15:24:16 -0700)

Mortgage-Bond Spreads Narrow After Rising on Supply Concern
May 25 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities that guide U.S. home-loan rates fell relative to Treasuries, after spreads widened to a seven-month high as borrowing costs near record lows led to speculation that issuance will increase. (Tue, 25 May 2010 15:40:41 -0700)

San Jose council votes to make changes in controversial home-loan policy
Perk meant to lure top officials left taxpayers holding an underwater mortgage after police auditor was let go. (Tue, 25 May 2010 19:37:04 -0700)

San Jose council votes to make changes in controversial home-loan policy
Perk meant to lure top officials left taxpayers holding an underwater mortgage after police auditor was let go. (Tue, 25 May 2010 19:38:14 -0700)

Luxury home loan scam ends in jail
A woman dole recipient and a delivery man who posed as the owners of a luxury flat to apply for a HK$10 million mortgage loan were both jailed for three years yesterday. (Wed, 26 May 2010 00:25:16 -0700)

Don't miss opportunity to refinance
Mortgage rates this month have reached their lowest levels of 2010, meaning it's once again a great time to refinance a home loan. (Wed, 26 May 2010 00:30:35 -0700)

Spring mortgage lending 'subdued'
Little sign of traditional "spring bounce" as figures from leading UK banks show mortgage lending remained subdued in April. (Wed, 26 May 2010 02:11:41 -0700)

U.K. April Mortgage Approvals Rise to Four-Month High, BBA Says
May 26 (Bloomberg) -- U.K. mortgage approvals rose to a four-month high in April as the economic recovery gained traction, a report by the British Bankers Association showed. (Wed, 26 May 2010 03:35:48 -0700)

Home refinancing jumps while purchasing slumps
U.S. mortgage applications to refinance home loans jumped to a seven month high last week as rates neared record lows, but purchase demand remained stuck at a 13-year low. (Wed, 26 May 2010 04:00:34 -0700)

Home refinancing jumps while purchasing slumps
By Julie Haviv (Wed, 26 May 2010 04:00:34 -0700)

U.S. MBA Mortgage Applications Index Rose 11.3% Last Week
May 26 (Bloomberg) -- The number of mortgage applications in the U.S. rose last week by the most in a month as homeowners took advantage of borrowing costs close to a record low to refinance. (Wed, 26 May 2010 04:34:23 -0700)

Why you should not prepay your home loan
Instead of prepaying your home loan before the term ends it's better to invest the amount you would save on prepaying the loan and earn good returns on investing the same. (Wed, 26 May 2010 04:36:01 -0700)

Extra mortgage payments won't boost profit
Making extra mortgage payments will not increase the profit or loss when the home is sold. (Wed, 26 May 2010 05:19:36 -0700)

MBA: Mortgage Purchase Applications at 13 Year Low
The Market Composite Index, a measure of mortgage loan application volume, increased 11.3 percent on a seasonally adjusted basis from one week earlier ... (Wed, 26 May 2010 05:21:35 -0700)

US Home Refinancing Jumps While Purchasing Slumps
Tthe Mortgage Bankers Association said interest rates on 30-year fixed-rate mortgages, the most widely used loan, reached their lowest level since late-November 2009. (Wed, 26 May 2010 05:22:16 -0700)

US Home Refinancing Jumps While Purchasing Slumps
Tthe Mortgage Bankers Association said interest rates on 30-year fixed-rate mortgages, the most widely used loan, reached their lowest level since late-November 2009. (Wed, 26 May 2010 05:26:08 -0700)

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