Mortgage News Jun 2010

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Ex-Radnor manager must repay $29K
RADNOR Radnor Townships Board of Commissioners voted last week to settle on the balance of a $175,000 home loan it made to its embattled former manager in 2001. (Tue, 01 Jun 2010 02:12:49 -0700)

Mortgage Services III, LLC Continues Growth and Expansion with Acquisition of Complete Mortgage, Inc.
Mortgage Services III, LLC is expanding its Home Loan Division into the Greater Milwaukee area. Mortgage Services III, LLC of Bloomington, IL is pleased to announce the acquisition of Complete Mortgage, Inc., of Sussex, Wisconsin. (Tue, 01 Jun 2010 03:04:00 -0700)

Mortgage Services III, LLC Continues Growth and Expansion with Acquisition of Complete Mortgage, Inc.
read more (Tue, 01 Jun 2010 03:19:34 -0700)

Region's first GCC mortgage summit set to open in Bahrain
The Region's first GCC Mortgage Summit is set to open in the Kingdom on June 2 (Wednesday) at The Gulf Hotel and will bring more than 100 international firms and professionals to the capital city of Manama. (Tue, 01 Jun 2010 03:56:56 -0700)

Radnor settles with former manager over outstanding home loan
Radnor Townships Board of Commissioners voted Monday to settle on the balance of a $175,000 home loan it made to its embattled former manager in 2001. (Tue, 01 Jun 2010 04:56:12 -0700)

PNC Mortgage Offers New Online Resource Center to Assist Consumers with Home Mortgage Decisions
New Site Provides Information, Calculators and Online Experts at Your Fingertips (Tue, 01 Jun 2010 05:00:00 -0700)

Mortgage bankers group spent $714K lobbying in 1Q
The Mortgage Bankers Association spent $714,000 in the first quarter to lobby the federal government on banking regulations, housing and foreclosure policy and other issues, according to a disclosure form. (Tue, 01 Jun 2010 09:05:31 -0700)

Variable rate mortgage holders unphased by moderate interest rate hikes so far
TORONTO - Diana Dobrusevski isn't losing any sleep over rising interest rates in fact the first-time homeowner who secured a discounted variable rate mortgage just before the credit crunch hit says she's confident her choice will keep saving her money. (Tue, 01 Jun 2010 11:33:00 -0700)

Mortgage rates at lowest level of year?
Associated Press, WASHINGTON Mortgage rates have fallen to the lowest level of the year as investors poured money into the safe haven of U.S. government securities. (Tue, 01 Jun 2010 12:04:38 -0700)

The refinance dance
Interest rates are at historically low levels. But should you refinance that mortgage? The classic refinance candidate is somebody who maybe has a 30-year fixed-rate mortgage and wants to go to a lower rate and reduce their monthly payments. (Tue, 01 Jun 2010 12:16:00 -0700)

GBP/USD: Trading the Change in U.K. Mortgage Approvals
With the recovery in the U.K. gathering pace, a rise in mortgage lending is likely to reinforce an improved outlook for future growth, which could support the recent rebound in the GBP/USD. (Tue, 01 Jun 2010 12:43:00 -0700)

Pimco Buying Bullet-Proof Australian Mortgage-Backed Bonds
June 2 (Bloomberg) -- Bonds backed by Australian home loans offer value as returns outweigh the risk on notes that are close to bullet-proof AAA, according to Pacific Investment Management Co., manager of the worlds biggest debt fund. (Tue, 01 Jun 2010 18:39:24 -0700)

Mortgage rates on the rise again
A new survey says more than four out of five home buyers feel comfortable with their debt, but another hike in interest rates might get Canadians squirming next time theyre polled (Tue, 01 Jun 2010 19:32:01 -0700)

Defence HomeOwner scheme closes July 1
Former defence force members and reservists have until July 1 to seek a subsidised home loan under the old Defence HomeOwner scheme. (Tue, 01 Jun 2010 20:23:46 -0700)

U.K. April Mortgage Approvals Rise to Four-Month High
June 2 (Bloomberg) -- U.K. mortgage approvals rose to a four-month high in April as warmer weather and the ending of a transaction tax on house purchases for some first-time buyers helped boost demand. (Wed, 02 Jun 2010 02:05:39 -0700)

Mortgage lending edges higher
Mortgage lending crept up in April compared to the previous month, according to figures from the Bank of England. (Wed, 02 Jun 2010 02:23:04 -0700)

Mortgage lending edges higher
Mortgage lending crept up in April compared to the previous month, according to figures from the Bank of England. (Wed, 02 Jun 2010 02:25:50 -0700)

Home loan dispute has a happy ending
Philani Luthuli turned to Consumer Watch for help in resolving a dispute with Standard Bank home loans. (Wed, 02 Jun 2010 04:23:39 -0700)

Home loan dispute has a happy ending
Philani Luthuli turned to Consumer Watch for help in resolving a dispute with Standard Bank home loans. He and his late wife bought a home in Zakariyya Park, Joburg, in May, 2004, with a 20-year home loan from Standard Bank, and paid their instalment every month via debit order. (Wed, 02 Jun 2010 04:32:20 -0700)

U.S. MBA Mortgage Applications Index Increased 0.9% Last Week
June 2 (Bloomberg) -- An index of mortgage applications in the U.S. rose for the second consecutive week as gains in refinancing cushioned a plunge in purchases following the end of a government tax incentive. (Wed, 02 Jun 2010 04:44:29 -0700)

BofA Opens Mortgage Centers
A customer-friendly measure from BofA. (Wed, 02 Jun 2010 05:10:10 -0700)

Home-Buying Loan Demand Falls for Fourth Week
The Mortgage Bankers Association said demand for home loans fell last week. (Wed, 02 Jun 2010 05:34:04 -0700)

The 20-Year Mortgage Alternative
More jumbo-loan borrowers are refinancing into 20-year loans, which now carry attractive interest rates. (Wed, 02 Jun 2010 06:50:52 -0700)

Radnor settles with former manager over outstanding home loan
Radnor Townships Board of Commissioners voted Monday to settle on the balance of a $175,000 home loan it made to its embattled former manager in 2001. (Wed, 02 Jun 2010 08:30:44 -0700)

Radnor settles with former manager over outstanding home loan
Radnor Townships Board of Commissioners voted Monday to settle on the balance of a $175,000 home loan it made to its embattled former manager in 2001. (Wed, 02 Jun 2010 10:11:46 -0700)

U.S. pending home sales at 6-month high, loan demand falls
U.S. pending home sales hit a six-month high in April but falling demand for home loans pointed to ebbing activity in the vital housing market due to the expiration of a popular tax credit for buyers. (Wed, 02 Jun 2010 11:07:52 -0700)

Dump The Mortgage Interest Deduction
There's no evidence that the subsidy increases home ownership, and the benefits largely go just to (Wed, 02 Jun 2010 14:09:58 -0700)

Mortgage Holders Seize Four Seasons Dallas
Investors holding the $183 million mortgage on the Four Seasons Resort and Club Dallas now own the property after prevailing in a foreclosure auction this week. (Wed, 02 Jun 2010 21:06:59 -0700)

Tax sops on home loans
The Income Tax Act, 1961 provides tax benefits for assessees that have home loans. Typically a home loan is repaid to the bank/lender in monthly installments. (Wed, 02 Jun 2010 23:13:55 -0700)

Home equity loan rates: June 3, 2010
Here are the average home equity rates from Bankrate's weekly survey of large banks and thrifts. (Thu, 03 Jun 2010 03:00:00 -0700)

Mortgage rates rise off lows
Rates are rising from all-time lows, but mortgage pros say buyers still can find great deals. (Thu, 03 Jun 2010 03:00:00 -0700)

Shanghai Bad Loan Ratio to Rise on Home Prices Drop
June 3 (Bloomberg) -- Shanghai banks ratio of delinquent home mortgages may more than quadruple if property prices in Chinas wealthiest city plunge 30 percent, according to the nations banking regulator. (Thu, 03 Jun 2010 03:07:39 -0700)

Mortgage rates rise off lows
Mortgage rates rose slightly off their record lows. The benchmark 30-year fixed-rate mortgage rose 3 basis points this week, to 4.95 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 03 Jun 2010 04:34:35 -0700)

BofA's Mortgage Forgiveness on Track
BofA makes progress on mortgage forgiveness. (Thu, 03 Jun 2010 05:16:18 -0700)

Mortgage rates rise in latest week: Bankrate
BOSTON (MarketWatch) -- The average rate on a 30-year fixed mortgage rose to 4.95% this week from 4.92% the previous week, Bankrate said Thursday. The average 15-year fixed mortgage rose to 4.36% from 4.34%. "Nervous investors and tenuous financial markets kept a lid on mortgage rates," Bankrate said. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move ... (Thu, 03 Jun 2010 06:00:41 -0700)

Mortgage rates up from yearly lows, Freddie Mac says
NEW YORK (AP) Rates on 30-year fixed mortgages ticked up this week from the lowest level of the year. (Thu, 03 Jun 2010 08:55:26 -0700)

Guggenheim Ousts Bank of America as Mortgage Funds Take Control
June 3 (Bloomberg) -- Guggenheim Structured Real Estate replaced Bank of America Corp. as the servicer on debt tied to hotel company MeriStar Hospitality Corp. as investors seek to gain control of loan restructurings amid surging defaults. (Thu, 03 Jun 2010 10:57:24 -0700)

Refinance loan application volume at its highest level
Todays mortgage rates remain near record lows, and that has lit a fire under refinance activity. Jim Sahnger, a mortgage consultant with Palm Beach Financial Network in Stuart, Fla., says hes noticed a significant uptick in home loan activity as rates have fallen. People recognize the great value that exists, he says. (Thu, 03 Jun 2010 18:39:45 -0700)

87% of Home Buyers Plan to Use an FHA Loan, Mostly for Down-Payment Reasons
A new survey conducted by the Home Buying Institute revealed that most home buyers plan to use an FHA home loan to finance their purchase. Eighty-seven percent of respondents were in favor of the FHA option. (Fri, 04 Jun 2010 00:00:00 -0700)

Should you refinance, or hang tight?
Do today's low mortgage rates make it the right time to refinance? It depends on your situation. (Fri, 04 Jun 2010 03:00:00 -0700)

Time to Refinance, or Hang Tight?
Should you take advantage of the recent low mortgage rates and refinance? It depends on your situation. (Fri, 04 Jun 2010 05:25:09 -0700)

Low mortgage rates spark refinancing 'boomlet'
Jun. 4--Sarah and Joshua Donaldson wanted to help themselves and others -- war-weary others -- and a refinanced mortgage was the key to both. (Fri, 04 Jun 2010 08:43:26 -0700)

The Hindu Business Line : Major banks build up home loan market share
Even as growth in the home loan market stayed in the single digit in 2009-10, larger banks managed to expand their market share in this segment, by edging out smaller players. (Sat, 05 Jun 2010 11:34:49 -0700)

FAMU law students educate Pine Hills residents on loan-modification scams
Orlando's Pine Hills neighborhood has one of the highest foreclosure rates in Central Florida PINE HILLS Louvon Roberson didn't face foreclosure when she paid a local company to modify her home loan, but because money was going to be tight for a few months due to upcoming knee surgery, she needed lower mortgage payments. (Sat, 05 Jun 2010 20:30:37 -0700)

Low mortgage rates: what's the catch? --
It is quite interesting that the commercial banks are scrambling to generate mortgage business through unprecedented low interest rates. When last did we see rates as low as 6.75 per cent on residential mortgages? (Sat, 05 Jun 2010 22:23:02 -0700)

Home financing continues to be pose challenge in Reno area
Four years after the Reno-Sparks housing market reached its boisterous peak, lenders continue to handle mortgages with the same caution exercised by witnesses to a wild party gone bad. (Sat, 05 Jun 2010 23:15:41 -0700)

After shopping for a home, tired buyers often make poor mortgage choices
New research suggests that buyers' minds are so taxed after they go through the ordeal of finding a house that they often rush into the next step applying for a loan and make poor choices. (Sun, 06 Jun 2010 00:20:34 -0700)

Mortgage should be changed during, not after, divorce
Q: If I file a quitclaim deed on the home that I bought with my ex-husband, will I be relieved of any credit harm? He was supposed to refinance the mortgage after our divorce and take me off it but didnt. Now he is three months behind on the house payment and my credit is in the toilet. (Sun, 06 Jun 2010 03:45:56 -0700)

Home loan rates likely to rise
Home loan rates are expected to rise as the base rate regime comes into effect from July 1. (Sun, 06 Jun 2010 11:39:16 -0700)

Mortgage holders can afford rate rises
A SURVEY has found that most mortgage holders can afford for rates to rise a further one per cent. (Sun, 06 Jun 2010 18:10:42 -0700)

China to Apply Tighter Second Mortgage Rules to Non-Residents
June 7 (Bloomberg) -- China will apply its tighter second- home mortgage policies to loan applicants who fail to provide proof of at least one year of local social security contributions or tax payments, the government said. (Sun, 06 Jun 2010 21:40:49 -0700)

Radnor settles with former manager over outstanding home loan
Radnor Townships Board of Commissioners voted Monday to settle on the balance of a $175,000 home loan it made to its embattled former manager in 2001. (Sun, 06 Jun 2010 23:24:24 -0700)

Mortgage modification jitters? Seek help
If you can't nail down a mortgage modification, ask a credit counselor for assistance. (Mon, 07 Jun 2010 03:00:00 -0700)

Amortization loan calculator helps
Purchasing a home could be the biggest purchase you make during your lifetime. (Mon, 07 Jun 2010 03:00:00 -0700)

Reward for paying mortgage? $33,950 bill
A homeowner who pays the mortgage dutifully is in a bind, thanks to plunging condo values. (Mon, 07 Jun 2010 03:00:00 -0700)

Mortgage rates remain near record lows
American homebuyers are benefiting from the economic turmoil in Europe, which has helped drive mortgage rates back down near record lows. (Mon, 07 Jun 2010 04:15:47 -0700)

Mortgage modification jitters? Seek help
Dear Debt Adviser, After working with the bank for more than a year, we were denied a mortgage modification . The bank is trying to put us in another program to repay the loan that we are behind on. (Mon, 07 Jun 2010 04:35:04 -0700)

Mortgage modification jitters? Seek help
If you can't nail down a mortgage modification, ask a credit counselor for assistance. (Mon, 07 Jun 2010 05:40:19 -0700)

Amortization loan calculator helps
Purchasing a home could be the biggest purchase you make during your lifetime. (Mon, 07 Jun 2010 05:40:39 -0700)

Radnor settles with former manager over outstanding home loan
Radnor Townships Board of Commissioners voted Monday to settle on the balance of a $175,000 home loan it made to its embattled former manager in 2001. (Mon, 07 Jun 2010 05:52:08 -0700)

Compare 8 home improvement financing choices
As a contractor matches a saw to the cut, match your home improvement financing choice to the job at hand (Mon, 07 Jun 2010 08:16:29 -0700)

Compare 8 home improvement financing choices
As a contractor matches a saw to the cut, match your home improvement financing choice to the job at hand (Mon, 07 Jun 2010 08:25:59 -0700)

High-Yielding Mortgage Stocks Move Higher on Analyst Commentary
The Mortgage Investment Stocks Index is moving up by 0.7%. (Mon, 07 Jun 2010 08:35:00 -0700)

Bank of America's mortgage firm slapped with fine
A top mortgage company bought by Bank of America was ordered Monday to pay a 108-million-dollar penalty to settle claims it charged excessive fees to stricken homebuyers, US authorities said. (Mon, 07 Jun 2010 10:07:02 -0700)

Foreclosure tricks cost Countrywide $108 million
Mortgage lender Countrywide Home Loans Inc. agreed to pay $108 million Monday to settle an FTC case that said the company charged homeowners facing foreclosure with inflated service fees. (Mon, 07 Jun 2010 11:17:37 -0700)

When to stop paying mortgage insurance?
How long do you have to pay mortgage insurance? Mortgage broker Dennis C. Smith of Stratis Financial in Huntington Beach says he has been getting that question a lot lately. He answers it in his blog. He writes: Many of our mortgages include... (Mon, 07 Jun 2010 14:45:07 -0700)

Teaser loans may get extension
Teaser loans that insulate home loan borrowers from interest rate fluctuations in the initial years is here to stay with the... (Mon, 07 Jun 2010 15:11:35 -0700)

HSBC Fixed Rates Prove Popular Ahead of OCR
HSBCS Home Loan Campaign is proving popular as it continues to include the lowest fixed term home loan rates currently available in the market# at a time when people are seeking certainty ahead of forecast OCR increases over the next six months. (Mon, 07 Jun 2010 20:01:42 -0700)

It's a prime time to refinance mortgages
If you're not in the market for a new home, then you probably haven't been paying attention to mortgage rates. Maybe you should. (Mon, 07 Jun 2010 21:47:13 -0700)

Stiff curbs hit property picks
The stiffer home loan criteria for second-home buyers, devised to strengthen the recent property curbs, have further hurt mainland real estate shares. (Tue, 08 Jun 2010 00:30:03 -0700)

Mortgage brokers fall short in protecting info: watchdog
Mortgage brokers still have a ways to go in protecting the personal information of their customers, the privacy commissioner said Tuesday. (Tue, 08 Jun 2010 09:29:42 -0700)

Five ways to get a mortgage if you don't have a big deposit
The mortgage market may have relaxed a little recently, but there has been little cheer for first-time buyers. (Tue, 08 Jun 2010 09:48:02 -0700)

Privacy watchdog prods mortgage brokers
Mortgage brokers still have a ways to go in protecting the personal information of their customers, Canada's privacy commissioner says. (Tue, 08 Jun 2010 12:06:15 -0700)

Canada privacy czar slaps mortgage data security
Canada's mortgage brokers are not doing enough to protect the personal information of their customers from theft and misuse, the country's privacy czar said in her annual report on Tuesday. (Tue, 08 Jun 2010 12:15:35 -0700)

Thirty-Year Fixed Mortgage Rate Hits Record Low; Current 30-Year Fixed Rate is 4.58%, According to Zillow(R) Mortgage ...
read more (Tue, 08 Jun 2010 12:36:43 -0700)

Privacy watchdog prods mortgage brokers
Mortgage brokers still have a ways to go in protecting the personal information of their customers, Canada's privacy commissioner says. (Tue, 08 Jun 2010 13:50:20 -0700)

Mortgage deals
Should you take a fixed or variable rate? (Tue, 08 Jun 2010 16:23:01 -0700)

Australian Home-Loan Approvals Fall for Seventh Month
June 9 (Bloomberg) -- Australian home-loan approvals fell in April for a seventh straight month, adding to evidence the Group of 20s most aggressive round of interest-rate increases has cooled demand among first-time buyers. (Tue, 08 Jun 2010 18:54:24 -0700)

Home loans fall to nine-year low
NEW home loan commitments have fallen to a nine-year low as rising interest rates dampen demand, economists say. (Tue, 08 Jun 2010 22:16:16 -0700)

Mortgage rescue scammers target vulnerable homeowners
From a news release: OH NeighborWorks Groups Launch First Statewide Anti-Scam Initiative Ohio Alert! Day June 9 4304 N. Lockwood Ave., Toledo - 10 a.m. Toledo, Ohio Neighborhood Housing Services (Wed, 09 Jun 2010 03:51:37 -0700)

US: MBA Mortgage Applications plummet the week ended June 4th
FXstreet.com (Barcelona) - The dive in mortgage applications by 12.2% comes on the back of 2 weeks of increases, as gains in refinancing cushioned a plunge in purchases following the end of a government tax credit worth $8,000 per prospective homebuyer. (Wed, 09 Jun 2010 04:20:32 -0700)

Bovis Homes Launches New Mortgage With Barclays
Bovis Homes Launches New Mortgage With Barclays (Wed, 09 Jun 2010 05:00:20 -0700)

Mortgage group spent $1.1M in 1st-qtr lobbying
The Mortgage Insurance Companies of America spent about $1.1 million to lobby the federal government on housing and other issues in the first three months of this year, according to a disclosure report. (Fri, 11 Jun 2010 17:25:37 -0700)

Home loan modification mess
The federal Home Affordable program is falling short on its promise of meaningful mortgage relief for homeowners affected by the economic downturn. (Fri, 11 Jun 2010 18:08:52 -0700)

Mortgage rates low in Abilene, but refinancing market not buzzing with activity
Mortgage rates in Abilene are as low as theyve been in 20 years, said Lisa Boyce, branch manager and loan officer for City Bank Mortgage. (Fri, 11 Jun 2010 18:21:00 -0700)

How to overcome refinancing hurdles
Applications for refinancing that would not have encountered hurdles in years past don't go so smoothly anymore, as the real estate bust and economic downturn have created new obstacles for borrowers. (Sat, 12 Jun 2010 04:40:47 -0700)

Mortgage application volume falls 12.2%
WASHINGTON - The number of customers applying for a mortgage to purchase a property fell to the lowest level in 13 years last week, a sign the housing market is struggling without government incentives. (Sat, 12 Jun 2010 23:12:04 -0700)

Mortgage law, more support for SMEs 'needed'
Gulf oil producers need to introduce mortgage laws that should involve government incentives to control the real estate sector and prevent damaging speculation, a key Saudi investment company said yesterday. (Sat, 12 Jun 2010 23:29:24 -0700)

FHN's Home Loan Modification Services Helps Reducing Monthly Home Mortgage Payments That Can Prevent Foreclosure ...
U.S. housing bubble has left many homeowners in mortgage crisis, but the Home Loan Modification Services of FHN Realty & Appraisal offers a practical solution. The New York based Real Estate company backed by law firm helps homeowners in financial hardship to restructure their loans and avoid foreclosure. (Sun, 13 Jun 2010 00:05:00 -0700)

FHN's Home Loan Modification Services Helps Reducing Monthly Home Mortgage Payments That Can Prevent Foreclosure ...
U.S. housing bubble has left many homeowners in mortgage crisis, but the Home Loan Modification Services of FHN Realty & Appraisal offers a practical solution. The New York based Real Estate company backed by law firm helps homeowners in financial hardship to restructure their loans and avoid foreclosure. (PRWeb Jun 13, 2010) Read the full story at http://www.prweb.com/releases ... (Sun, 13 Jun 2010 00:19:11 -0700)

Client inherited parents' home - and its troubles
Mortgage broker: June David, Guarantee Mortgage, SoMa Property type: A three-bedroom, two-bath home in Outer Richmond Appraised value: $725,000 Borrowing amount: $495,000 Loan type: A 30-year fixed Federal Housing Authority refinance loan Rate: 5.5 percent... Federal Housing Administration - Mortgage - Refinancing - Mortgage broker - Business (Sun, 13 Jun 2010 00:23:07 -0700)

Nocera: Wake-Up Time for a Dream
Sheila Bair, the chairwoman of the Federal Deposit Insurance Corporation , began her week with a bit of honest heresy, the kind that only she, among all the bank regulators, seems willing to utter in the wake of the financial crisis. (Sun, 13 Jun 2010 23:57:37 -0700)

The National Mortgage Complaint Center Expands Its Title Insurance & Mortgage Junk Fee Initiative For Homeowners ...
The National Mortgage Complaint Center is one of the leading US advocates on the topic of predatory mortgage lending. (Mon, 14 Jun 2010 00:00:00 -0700)

The National Mortgage Complaint Center Expands Its Title Insurance & Mortgage Junk Fee Initiative For Homeowners ...
The National Mortgage Complaint Center is one of the leading US advocates on the topic of predatory mortgage lending. The group is offering to do a free HUD-1 Settlement Statement review for any US homeowner in California, or any other state, with the goal being, how much they were overcharged with junk mortgage fees, for homeowners who have refinanced, or financed their home within the last ... (Mon, 14 Jun 2010 00:17:16 -0700)

BAY launches new campaign to tap home refinancing market KRUNGSRI Refinance offers 0% interest for 6 months
The Bank of Ayudhya Public Company Limited (BAY) launches KRUNGSRI Refinance, a home refinancing campaign that offers 0% interest for six months plus a waiver of refinancing fees, in a move to capture (Mon, 14 Jun 2010 02:03:03 -0700)

How to overcome refinancing hurdles
Refinancing your mortgage can be a struggle. These tips will help you through it. (Mon, 14 Jun 2010 03:00:00 -0700)

Before refinancing, consider this
Low interest rates have many thinking of refinancing mortgages document.write (" "); Just when you thought home mortgage rates couldn't go any lower, they have. Rates recently hit new 50-year lows and are registering well below 5 percent for a 30-year fixed mortgage. (Mon, 14 Jun 2010 03:47:12 -0700)

Home equity loans, HELOCs tough to find
Today's homeowners are finding it far more difficult to obtain a home equity loan or line of credit. Lenders scrambling to cover losses are tightening standards and taking a close look at housing values . Fewer homeowners now qualify for home equity products, and experts say uncertainty in the housing market is only exacerbating the problem. (Mon, 14 Jun 2010 04:40:47 -0700)

Using a home equity loan to pay off mortgage may not be best alternative
Q. I have a home-equity loan with an extra line of credit at a lower interest rate than my mortgage. Can I use this line of credit to pay off the mortgage? Borrower A. You can, yes. The real... (Mon, 14 Jun 2010 05:09:58 -0700)

Home equity loans, HELOCs tough to find
Home equity loans and HELOCs are much harder to get these days. But the situation is not hopeless. (Mon, 14 Jun 2010 05:19:05 -0700)

Tim Vickery: North Korea could stifle Brazil by sitting back and guarding counter
Three of them have since returned home, Robinho on a short term loan to Santos, but for the first time ever the entire Brazil World Cup squad has European club experience. All 23 players are familiar to the global soccer audience. Their opening opponents on Tuesday, on the other hand, are "the mystery men" of North Korea -- and the meeting of the known and the unknown could be one of the most ... (Mon, 14 Jun 2010 06:26:09 -0700)

Police search for man wanted in loan and mortgage scam
Calgary police are looking for a man in relation to a mortgage and loan scam. It is alleged that the suspect offered a loan to an elderly couple in 2006 totalling $84 thousand while using their home as collateral. He also charged an interest rate of 65 percent and then tried to foreclose on the home. However, under the criminal code, it is illegal to charge more than 60 per cent interest. Thirty ... (Mon, 14 Jun 2010 12:19:40 -0700)

Fitch Downgrades 7 Classes of CSFB Mortgage Securities Corp. 2001-CP4; Assigns LS Ratings
NEW YORK----Fitch Ratings has downgraded and assigned Loss Severity ratings or Recovery Ratings to Credit Suisse First Boston Mortgage Securities Corp. 2001-CP4, as indicated: (Mon, 14 Jun 2010 12:22:00 -0700)

Associated Bank Mortgage Lending Representatives Receive 2010 FIVE STAR Mortgage Professional Award
Five mortgage professionals at Associated Bank were recently recognized by Milwaukee Magazine for exceeding customers' expectations, as each received the 2010 FIVE STAR Mortgage Professional Award. (Mon, 14 Jun 2010 13:13:00 -0700)

HOPE Mortgage Co. ordered to cease and desist
Dept.of Financial Institutions prohibits in Ky. FRANKFORT, Ky. The Kentucky Department of Financial Institutions (DFI) issued a cease and desist order against a mortgage company called Home Ownership Possibilities for Everyone LLC (HOPE) in Louisville, Ky. (Mon, 14 Jun 2010 13:36:05 -0700)

Loan scams Calgary seniors of home: police
An elderly couple are in the process of losing their Calgary home after agreeing to take out a series of loans at a high interest rate - a scheme police allege was against the law. (Mon, 14 Jun 2010 14:13:45 -0700)

Treasury 10-Year Yield to Drop Below 3%, Deutsche Bank Says
June 14 (Bloomberg) -- The yield on the 10-year U.S. Treasury note will fall below 3 percent in the coming months, a level last touched in April 2009, as investors flee risk in the wake of Europes sovereign debt crisis, Deutsche Bank AG said. (Mon, 14 Jun 2010 14:20:41 -0700)

Crime Consumer loan firm exec receives threatening letter
The vice president of major consumer loan firm Takefuji Corp has received a threatening letter and a bullet enclosed in an envelope, police said Monday. (Mon, 14 Jun 2010 15:13:06 -0700)

California Mortgage Company Fined $20,000 for Deceptive Solicitation Letters
State regulators say Nationwide Mortgage Concepts LLC sent letters designed to fool Arkansans into believing Nationwide had an affiliation with the Office of Veterans Affairs. (Mon, 14 Jun 2010 17:08:42 -0700)

Mortgage fraud case nets 10 more
Ten people, including a former Wachovia banker, have agreed to plead guilty in the Waxhouse Investigation, a widening federal mortgage fraud case involving homes in pricey Mecklenburg and Union county subdivisions. (Mon, 14 Jun 2010 18:32:56 -0700)

Development director outlines plan to refinance Hampton Inn loan
The city faces a bulky $1 million final payment on the loan that helped finance the Hampton Inn in 2019, and Community Development Director Aane Aaby said he is hopeful that by then the city has enough hotel revenue in hand from developers that the payment wont be a burden. (Mon, 14 Jun 2010 20:25:03 -0700)

Huge home loan exit fees may be illegal
Non-bank lenders may be acting illegally when they charge borrowers exit fees of up to $14,000 for repaying variable rate home loans early. (Tue, 15 Jun 2010 07:08:35 -0700)

The FHA 203(k) Loan: A Home Repair Loan And Mortgage All In One
If youre looking at a fixer-upper, the Federal Housing Administration rehab loan may be the mortgage for you. (Tue, 15 Jun 2010 08:26:27 -0700)

CFBank opens mortgage office in Green
CFBank has opened an office for purchase and refinancing mortgages in Green. (Tue, 15 Jun 2010 10:17:55 -0700)

Home loan interest gets benefit
Home loan takers can rejoice. The revised discussion paper on the Direct Tax Code (DTC) has proposed to continue with the existing system of deducting interest payment (up to Rs 1.5 lakh) against home loan from total income before calculating the tax liability. (Tue, 15 Jun 2010 12:50:45 -0700)

RAMS clips fixed home loan rates
Home loan lender RAMS has cut its two- and three-year fixed interest rates, saying it wants to see increased competition in the sector. (Tue, 15 Jun 2010 15:16:05 -0700)

Home loan fee challenge
Non-bank lenders may be acting illegally when they charge borrowers exit fees of up to $14,000 for repaying variable rate home loans early, research has found. (Tue, 15 Jun 2010 18:22:40 -0700)

MBA Mortgage Applications Index in U.S. Increased 18% Last Week
June 16 (Bloomberg) -- An index of mortgage applications in the U.S. jumped 18 percent as refinancing rose to the highest level in a year and purchases increased for the first time in six weeks. (Wed, 16 Jun 2010 04:23:26 -0700)

Mortgage Application Volume Rises In Week Ended June 11
A report released by the Mortgage Bankers' Association said Wednesday that mortgage application volume rose a seasonally adjusted 17.7% in the week ended June 11th from the previous week. This marks the first increase in over a month. The increase reflected demand trickling in after the payback effect from the April 30 expiration of first time homebuyers' credit was felt in the past few weeks. (Wed, 16 Jun 2010 04:58:56 -0700)

Mortgage Demand Jumps After Tax Credit Payback
The Mortgage Bankers Association reported demand for home loans jumped to a five-month high. (Wed, 16 Jun 2010 05:03:00 -0700)

U.S. mortgage activity rises sharply
WASHINGTON, June 16 (UPI) -- The volume of applications for U.S. mortgages rose sharply in the week ending June 11 with interest rates mixed, an industry group said Wednesday. (Wed, 16 Jun 2010 08:46:45 -0700)

Mortgage applications rise nearly 18 percent
Mortgage applications rise nearly 18 percent as refinances, purchases grow (Wed, 16 Jun 2010 10:43:48 -0700)

Mortgage Applications Rise Nearly 18 Percent
Mortgage applications rise nearly 18 percent as refinances, purchases grow Mortgage - United States - Financial Services - Business - Loan (Wed, 16 Jun 2010 10:44:24 -0700)

Mortgage applications rise nearly 18 percent
The number of customers applying for mortgages jumped last week, a sign that the market could be stabilizing after dropping off sharply last month. Overall applications were up nearly 18 percent from a week earlier, the Mortgage Bankers Association said... Mortgage - Mortgage Bankers Association - Financial Services - Business - United States (Wed, 16 Jun 2010 11:05:37 -0700)

Mortgage Applications Rise Nearly 18 Percent
WASHINGTON (AP) - The number of customers applying for mortgages jumped last week, a sign that the market could be reviving after dropping off sharply last month. The Mortgage Bankers Association says overall applications were up nearly 18 percent from a week earlier. Applications to refinance home loans were up 21 percent to the highest level since May 2009. That's because buyers have been ... (Wed, 16 Jun 2010 11:10:43 -0700)

Mortgage applications rise nearly 18 percent
The number of customers applying for mortgages jumped last week, a sign that the market could be stabilizing after dropping off sharply last month. (Wed, 16 Jun 2010 11:54:39 -0700)

LOVE FUNDING CLOSES $6,388,700 REFINANCE LOAN FOR HARVARD OAKS TOWNHOMES
Detroit , Mich. , June 10, 2010 Love Funding, a national mortgage-banking firm, is pleased to announce the closing of a $6,388,700 refinance loan for Harvard Oaks Townhomes, a multifamily housing complex located in Shelby Township , Mich. Mickey Rist, Senior Loan Originator in Love Fundings Detroit office, and Bruce Gerhart, Midwest Regional Manager in Love Fundings Cleveland office ... (Wed, 16 Jun 2010 15:12:19 -0700)

Credit card debt worse than home loans
New research shows that credit card repayments have surpassed home loan repayments as the main form of household debt. (Wed, 16 Jun 2010 20:15:49 -0700)

Mortgage Rates Near Record Lows
I generally don't get too excited about little movements in interest or mortgage rates, but they are moving into record-low territory. It could truly be worth considering refinancing if you are going to stay in your home awhile. (Wed, 16 Jun 2010 21:17:17 -0700)

Mortgage fraud ring hit $100M, FBI says
Federal prosecutors in Detroit say a local crime ring ran a mortgage fraud scheme that cost lenders more than $100 million and was used to fund a lifestyle that included hot rod cars, international travel, palatial homes -- even a helicopter. (Wed, 16 Jun 2010 22:12:50 -0700)

Mortgage CEO charged with fraud
WASHINGTON The former chairman of a large mortgage lending company has been charged in a $1.9 billion fraud scheme that contributed to the failure of Colonial Bank, one of the nation's 50 largest banks before it was seized by regulators last year, the Justice Department said Wednesday. (Wed, 16 Jun 2010 22:13:21 -0700)

Mortgage company chairman indicted in 1.9billion dollars fraud scheme
Washington Jun 17 : The former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), Lee Bentley Farkas, was arrested last night in Ocala, U.S. and charged in a 16-count indictment for his alleged role in a more than 1.9 billion USD fraud scheme. (Wed, 16 Jun 2010 22:28:42 -0700)

Big loan arranger charged by feds
A grand jury has indicted the former CEO of what was once among the nation's largest independent home-loan providers on 16 counts of fraud. In documents filed in federal court in Virginia, prosecutors said Lee Bentley Farkas, the one-time chief executive of Taylor, Bean & Whitaker Mortgage Corp., caused more... (Wed, 16 Jun 2010 22:45:45 -0700)

VA Home Loan Discounts Available at Texas Military Healthcare Expo
LowVARates.com is attending the Military Healthcare Expo on June 23rd June 24th and offering military homeowners discounts on VA home loans. LowVARates.com is also giving away a FREE iPod to a lucky winner during the Expo. (Thu, 17 Jun 2010 00:01:00 -0700)

The National Mortgage Complaint Center Expands Its Free Title Insurance & Mortgage Junk Fee Inspection For All ...
Because most homeowners never really understand what they are being charged when they finance or refinance a home loan, the National Mortgage Complaint Center is offering to do a free HUD-1 Settlement Statement review for any US homeowner in California, with the goal being, how much they were overcharged with junk mortgage fees--provided the transaction occurred within the last year. The ... (Thu, 17 Jun 2010 00:16:55 -0700)

VA Home Loan Discounts Available at Texas Military Healthcare Expo
LowVARates.com is attending the Military Healthcare Expo on June 23rd June 24th and offering military homeowners discounts on VA home loans. LowVARates.com is also giving away a FREE iPod to a lucky winner during the Expo. (PRWeb Jun 17, 2010) Read the full story at http://www.prweb.com/releases/mi (Thu, 17 Jun 2010 00:17:05 -0700)

Mortgage help offered
Homeowners in areas of the Gulf of Mexico affected by the BP oil spill can get mortgage relief from Citigroup Inc. and government sponsored mortgage purchasers Fannie Mae and Freddie Mac. (Thu, 17 Jun 2010 01:54:31 -0700)

Mortgage fraud probe nets nearly 500 arrests
WASHINGTON - The Justice Department today announced a major crackdown on mortgage fraud, disclosing that investigators have made nearly 500 arrests since March. (Thu, 17 Jun 2010 03:11:00 -0700)

Bankrate: Mortgage Rates Still at Record Lows
Mortgage rates held at record low levels this week, with the average conforming 30-year fixed mortgage rate at 4.88 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.48 discount and origination points. (Thu, 17 Jun 2010 04:30:00 -0700)

Mortgage rates hold steady
Mortgage rates are remarkably favorable, with the 30-year fixed remaining unchanged from the previous week's record low. The benchmark 30-year fixed-rate mortgage remained 4.88 percent this week, according to the Bankrate.com national survey of large lenders. (Thu, 17 Jun 2010 04:41:39 -0700)

Interest Rate Roundup for June 17, 2010
Record-low mortgage rates did not budge this week. The average 30-year fixed-rate mortgage remained unchanged, at 4.88 percent. A basis point is one-hundredth of a percentage point. The rate remains the lowest in the nearly 25-year history of the weekly Bankrate survey. (Thu, 17 Jun 2010 04:42:20 -0700)

Mortgage Rates Hold Steady
Mortgage rates barely budged, but refinancing surged. Should you lock a rate now, or roll the dice? (Thu, 17 Jun 2010 06:18:48 -0700)

Stonegate Mortgage Corporation Hires Wholesale Regional Manager for the Texas Market
Stonegate Mortgage Corporation is one of the largest privately held mortgage lenders in the Central US. Started in Ohio in 1964, today were a leading originator of conventional loan products as well as FHA, VA and USDA loans with over $1 billion of origination volume since 2005 and a mortgage servicing portfolio in excess of $225 million. (Thu, 17 Jun 2010 07:00:00 -0700)

Loan firms warned over tactics
Loan companies are warned not to sue defaulting customers in different legal jurisdictions of the UK to the one they live in. (Thu, 17 Jun 2010 07:26:00 -0700)

Rural loan program offers assistance
GLENWOOD The eastern Glenwood home of Jim and Michaela Tighe features a plush green yard and two small flowerbeds, dotted with daisies, petunias and many other flora, the hard work of Michaela, the self-admitted green thumb of the family. (Thu, 17 Jun 2010 07:32:14 -0700)

US mortgage rates steady, 30-yr at 4.75%: Freddie
US mortgage rates steady, 30-yr at 4.75%: FreddieUS mortgage rates steady, 30-yr at 4.75%: Freddie (Thu, 17 Jun 2010 07:44:37 -0700)

Mortgage-Fraud Crackdown Brings 485 Arrests, U.S. Says
A nationwide mortgage-fraud crackdown that began in March has resulted in 485 arrests, the Justice Department said in a statement. (Thu, 17 Jun 2010 08:24:20 -0700)

Cincy mortgage rates hit 25-year low
Greater Cincinnati's average mortgage rate has hit a 25-year low for the second time in two weeks. Meanwhile, the national average rate on a 30-year fixed mortgages backed off from yearly lows this week, but still remain historically cheap. (Thu, 17 Jun 2010 08:37:59 -0700)

Freddie Mac: Mortgage rates up from yearly low
Mortgage finance company Freddie Mac says the average rate rose to 4.75 percent, up from 4.72 percent last week. (Thu, 17 Jun 2010 08:44:35 -0700)

Mortgage fraud is on the rise
Mortgage fraud increased by more than five percent in 2009 according to the FBI. (Thu, 17 Jun 2010 09:42:25 -0700)

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