Mortgage News Aug 2007

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Get Extra Cash By Refinancing Your Car
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 13 Aug 2007 08:19:42 GMT)

Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Mon, 13 Aug 2007 08:20:02 GMT)

Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Mon, 13 Aug 2007 08:37:36 GMT)

How Did the Mortgage Crisis Rise?
The slide started innocuously in April after New Century Financial, a mortgage lender whose principle borrowers were Americans with less-than-stellar credit, filed for bankruptcy protection. (Mon, 13 Aug 2007 09:01:17 GMT)

Asian Central Banks Refrain From Extra Cash Injection (Update3)
Aug. 13 (Bloomberg) -- Asian central banks refrained from joining U.S. and European counterparts in pumping additional cash into their markets, reflecting confidence fallout from subprime mortgage losses can be contained without their help. (Mon, 13 Aug 2007 09:18:25 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Mon, 13 Aug 2007 09:37:47 GMT)

Mortgage industry is returning to roots
Analysts say turmoil has made lenders cautious about risks. While the disruption roiling the mortgage financing industry may seem like panic, some market veterans say it is actually a return to normal following a period of excess. (Mon, 13 Aug 2007 09:39:42 GMT)

Sub-prime mortgage crisis hits US shares
US markets dropped sharply towards the back end of last week, undoing gains made on Tuesday and Wednesday, due to renewed concerns over the effect of the sub-prime mortgage crisis on the US economy. In Europe, central banks have pumped money into the markets to prevent a credit crunch. (Mon, 13 Aug 2007 10:06:42 GMT)

Mortgage reset
If your mortgage resets, you can refinance or sell. Even people who can't afford the new payment have options. Can't afford reset payment? Options exist (Mon, 13 Aug 2007 11:32:27 GMT)

Mortgage woes hit OAPs
A FIFTH of all retired homeowners still have a mortgage that has not been paid off, new research has revealed. (Mon, 13 Aug 2007 12:09:39 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 13 Aug 2007 13:23:56 GMT)

Got a Mortgage Problem? Don't Ignore It. Pick Up the Phone
Steps to take if you can't meet your monthly mortgage payment. (Mon, 13 Aug 2007 13:31:33 GMT)

Dems take on mortgage meltdown
In the wake of the subprime mess, Democratic presidential candidates are grabbing hold of the issue and offering their own solutions. And the problem, according to many of them, lies with the mortgage broker. (Mon, 13 Aug 2007 15:16:44 GMT)

Fannie, Freddie stocks fall after mortgage plea rejected
WASHINGTON (MarketWatch) -- Shares of mortgage-finance giants Fannie Mae and Freddie Mac fell Monday following a decision on Friday by the companies' regulator to reject Fannie's request to buy more home loans to prop up the sagging mortgage market. (Mon, 13 Aug 2007 15:25:32 GMT)

U.S. mortgage, housing markets seen caught in 'vicious cycle'
BOSTON (MarketWatch) -- Problems in the nation's mortgage and housing markets are feeding off each other and creating a "vicious cycle," analysts at Stifel Nicolaus & Co. said Monday. (Mon, 13 Aug 2007 15:40:57 GMT)

Mortgage resets: Record bill coming due
More than two million subprime adjustable rate mortgages are poised to reset at much higher rates in coming months, worsening an already suffering housing market. (Mon, 13 Aug 2007 15:45:00 GMT)

State pensions have a stake in mortgage market
COLUMBUS - Count Ohio's five public employee pension funds among those watching the volatile mortgage investment industry. (Mon, 13 Aug 2007 15:45:29 GMT)

Housing loan on tap
Housing authorities will ask the City Council on Tuesday for a loan to begin construction on a 22-unit development that would help nearly a dozen low-income families buy a home, officials say. (Mon, 13 Aug 2007 17:55:33 GMT)

Impac Mortgage Falls on Delayed Report
Shares of Impac Mortgage Holdings Inc. plunged Monday after the mortgage lender delayed its second-quarter financial report due to market volatility and to incorporate a May 2007 acquisition. (Mon, 13 Aug 2007 18:16:09 GMT)

Trend of tighter mortgage standards continues: Fed
WASHINGTON (MarketWatch) -- U.S. banks continued to tighten their standards for approving mortgage loans in the spring and early summer months, the Federal Reserve said Monday. (Mon, 13 Aug 2007 18:55:21 GMT)

Mortgage borrowers look for stability
Freddie Mac, the government sponsored enterprise created to add liquidity to home-mortgage markets, reported Monday that borrowers with adjustable rate mortgages (ARMs) are overwhelmingly choosing to switch to fixed-rate loans when they refinance. (Mon, 13 Aug 2007 19:01:29 GMT)

Federal Reserve finds banks tightening standards on subprime mortgage
A majority of the nation's banks have tightened lending standards on subprime mortgages, the Federal Reserve said Monday in a survey that provided further evidence of the spreading problems in mortgage lending. (Mon, 13 Aug 2007 19:39:30 GMT)

Use C.A.R.E. when refinancing A.R.M.
EDMOND — Beginning in 2002, mortgage interest rates plummeted to 30-year historic lows. Some of these rates were in the 4 percent range. These low rates created a massive refinance boom that lasted for more than three years. (Mon, 13 Aug 2007 20:16:05 GMT)

Federal Home Loan Bank of Indianapolis Announces Second Quarter 2007 Financial Filing
INDIANAPOLIS, Aug. 13, 2007 -- The Federal Home Loan Bank of Indianapolis announced today its second quarter 2007 10-Q filing with the Securities and Exchange Commission . (Mon, 13 Aug 2007 21:01:57 GMT)

Homeowners Refinancing with Fixed Rate Mortgages
U.S. homeowners who refinanced their mortgages overwhelmingly switched to fixed-rate mortgages, U.S. mortgage-finance giant Freddie Mac said Monday. (Mon, 13 Aug 2007 21:08:40 GMT)

Home loan standards tightened
Washington — A majority of the nation's banks have tightened lending standards on subprime mortgages, the Federal Reserve said Monday in a survey that provided further evidence of the spreading problems in mortgage lending. The Fed said it found that 56.3 percent of banks responding to a survey reported they had tightened their lending standards for subprime mortgages, loans offered to borrowers ... (Mon, 13 Aug 2007 22:32:36 GMT)

Credit-Ratings Firms and the Mortgage Monster
Fortune magazine Editor-at-Large Bethany McLean talks with Robert Siegel about credit-ratings firms and the mortgage-backed security monster they've helped create. (Mon, 13 Aug 2007 23:36:15 GMT)

Somerfield refinancing delayed
Robert Tchenguiz has been forced to delay the refinancing of supermarket chain Somerfield amid turmoil in the credit markets. (Tue, 14 Aug 2007 01:33:40 GMT)

ETF INVESTING: Mortgage REIT Fund Hammered By Credit Crunch
BOSTON (Dow Jones) -- Talk about bad timing. An exchange-traded fund designed to track real estate investment trusts that specialize in residential and commercial loans has been socked by the problems gripping the mortgage market. (Tue, 14 Aug 2007 01:47:20 GMT)

Aegis Mortgage Corp. files for bankruptcy
Aegis Mortgage Corp. filed for bankruptcy in Delaware on Monday, seeking protection from its creditors. (Tue, 14 Aug 2007 01:58:46 GMT)

Housing loan on tap
Housing authorities will ask the City Council on Tuesday for a loan to begin construction on a 22-unit development that would help nearly a dozen low-income families buy a home, officials say. (Tue, 14 Aug 2007 02:15:07 GMT)

Rams Says U.S. Credit Markets Threaten to Cut Profit (Update2)
Aug. 14 (Bloomberg) -- Rams Home Loans Group Ltd., an Australian mortgage lender that sold stock last month, said the shakeout in global debt markets may cut earnings. Its shares slumped, making Rams the nation's worst initial public offering this year. (Tue, 14 Aug 2007 03:33:25 GMT)

Rams Says U.S. Credit Markets Threaten to Cut Profit (Update5)
Aug. 14 (Bloomberg) -- Rams Home Loans Group Ltd., an Australian mortgage lender that sold stock last month, said the shakeout in global debt markets may cut earnings. Its shares slumped 23 percent, making it the nation's worst initial public offering this year. (Tue, 14 Aug 2007 06:22:20 GMT)

Mortgage market tightens for all
1/83/8 The slowing flow of money for mortgage loans is starting to affect people with good jobs and good credit. Mortgage lenders are tightening standards as investors provide less money for new loans. Last week's widespread market turmoil was triggered by investors worried about growing mortgage delinquencies, and uncertainty about how those problems would ripple through the economy. (Tue, 14 Aug 2007 07:14:38 GMT)

School's In: Home Loan U Educates Consumers Before Shopping for a Mortgage
With all the turmoil in the mortgage market, it is more important than ever that consumers be informed and educated about the entire lending process and are diligent in selecting a reputable lender. To help with this, Quicken Loans, one of the nation's largest mortgage lenders, has recently created Home Loan U, a series of personal finance education guides that are available as free downloads at ... (Tue, 14 Aug 2007 07:22:55 GMT)

Banks tell Fed of drop in mortgage loan demand
Banks reported softer demand for mortgage and commercial loans in the three months ending in July, the Federal Reserve said Monday, adding to evidence that the pace of economic growth has slowed. (Tue, 14 Aug 2007 07:32:36 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Tue, 14 Aug 2007 08:20:31 GMT)

Burdening Your Retirement With A Mortgage
One of retirement's great promises is the thrill of kissing that monthly mortgage payment goodbye. But don't start puckering up just yet. Lately, there has been a shift in thinking that has seen many financial planners suggest that retirees continue to carry a mortgage into and throughout retirement. (Tue, 14 Aug 2007 08:31:54 GMT)

Cost of buying home going up
Finding a mortgage in the Louisville area is getting tougher, and more expensive. In the past week or so, mortgage brokers and bankers say lending standards have tightened dramatically, making it more difficult for those with patchy credit to buy a new home or take out an equity loan on their current residence. (Tue, 14 Aug 2007 09:47:54 GMT)

How mortgage troubles affect you
CHICAGO — It has been an eventful couple of weeks for the mortgage industry, and it's easy to see why more than a few consumers watching at home could be confused, wondering what the developments mean for their own finances. (Tue, 14 Aug 2007 10:11:42 GMT)

Global stocks muted as credit concerns remain
World stock markets experienced mixed fortunes on Tuesday as concerns lingered about a global credit squeeze sparked by the crisis in the US home loan sector. (Tue, 14 Aug 2007 11:17:24 GMT)

Ahead of the Bell: Thornburg Mortgage
Four analysts downgraded Thornburg Mortgage Inc. on Tuesday, saying the mortgage lender will probably have to sell off some of its loans to stay afloat. (Tue, 14 Aug 2007 11:28:19 GMT)

Insider Trading at American Home?
Michael Strauss , the founder and chief executive of American Home Mortgage Investment (ahmiq.pk.PK), has faced a swarm of problems in recent months. One of the biggest, fastest-growing mortgage lenders in the country, its shares had slipped from a high of $36.40 last December to $10.47 by late July as the housing crisis deepened. (Tue, 14 Aug 2007 12:08:40 GMT)

Countrywide says mortgage loans rose in July
Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday said July mortgage loan fundings rose from a year earlier. (Tue, 14 Aug 2007 12:15:27 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Tue, 14 Aug 2007 13:25:27 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Tue, 14 Aug 2007 13:37:39 GMT)

Mortgage Hunting Hard in Wild Market
More than half of all banks in a Federal Reserve survey say they have tightened their lending standards in the subprime mortgage market — it's affecting even those with good credit. CBS News Interactive: Eye On The Economy (Tue, 14 Aug 2007 14:00:00 GMT)

Mortgage Hunting Hard in Wild Market
As foreclosures are increasing, it's becoming much harder to get a mortgage. More than half of all banks in a Federal Reserve survey say they have tightened their lending standards in the subprime mortgage market — it's affecting even those with good credit. CBS News Interactive: Eye On The Economy (Tue, 14 Aug 2007 14:00:00 GMT)

More banks tightening home-loan standards
WASHINGTON — More banks have tightened lending standards on subprime mortgages, the Federal Reserve said Monday in a survey that provided further evidence of spreading problems. (Tue, 14 Aug 2007 14:40:27 GMT)

Federal Home Loan Bank of Atlanta Announces Second Quarter 2007 Operating Highlights and Third Quarter 2007 Dividend ...
Federal Home Loan Bank of Atlanta today announced financial results for the quarter ended June 30, 2007, as well as dividend guidance for the third quarter of 2007. (Tue, 14 Aug 2007 14:57:00 GMT)

Federal Home Loan Bank of Atlanta Loss
The Federal Home Loan Bank of Atlanta, one of 12 district banks of the FHLB, said Tuesday its second-quarter profit fell 13 percent due to drops in both net interest income and other income. (Tue, 14 Aug 2007 15:54:19 GMT)

Thornburg Mortgage's shares fall after analyst downgrades
BOSTON (MarketWatch) -- Shares of mortgage lender Thornburg Mortgage Inc. were down 40% in afternoon trading Tuesday, weakening as the company faces margin calls and liquidity pressures and as more Wall Street analysts downgraded the stock. (Tue, 14 Aug 2007 16:25:41 GMT)

Moody's Downgrades Thornburg Mortgage
Credit rating agency Moody's Investors Service downgraded the senior unsecured debt and preferred stock ratings of mortgage lender Thornburg Mortgage Inc., and also placed a negative outlook on the company. (Tue, 14 Aug 2007 16:46:15 GMT)

Countrywide Leads Mortgage Shares Lower on Liquidity Concerns
Aug. 14 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage company, led shares of home lenders lower on concern bankers will cut off cash as foreclosures and overdue payments surge nationwide. (Tue, 14 Aug 2007 17:25:47 GMT)

Find A Good Mortgage In Grim Market
It's becoming much harder to get a mortgage because of problems with the so-called subprime mortgage market. More than half of all banks in a Federal Reserve survey say they have tightened their lending standards. (Tue, 14 Aug 2007 17:30:12 GMT)

Thornburg Mortgage sees stock tumble
Shares in Santa Fe-based Thornburg Mortgage dropped Tuesday over concerns involving rising defaults in the mortgage industry. (Tue, 14 Aug 2007 18:08:10 GMT)

THE RATINGS GAME: Thornburg Mortgage's Shares Fall After Analyst Downgrades
BOSTON (Dow Jones) -- Shares of mortgage lender Thornburg Mortgage Inc. fell as much as 29% Tuesday morning, weakening as the company faces margin calls and liquidity pressures and as more Wall Street analysts downgraded the stock. (Tue, 14 Aug 2007 18:18:43 GMT)

Aegis Mortgage Files for Chapter 11
Aegis Mortgage Corp., which last week stopped making new loans and laid off a substantial portion of its staff, has filed for Chapter 11 bankruptcy protection. (Tue, 14 Aug 2007 19:14:19 GMT)

Market Spotlight: Mortgage Market
Rising delinquency and foreclosure rates among mortgages, specifically subprime mortgages, have investors and investment banks scurrying to reassess the value of those loans held in portfolios or of securities backed by the loans. (Tue, 14 Aug 2007 19:16:36 GMT)

'Mortgage meltdown' spawns damage control
The Texas Association of Mortgage Brokers is trying to calm consumers' fears over what many have come to call the "mortgage meltdown." (Tue, 14 Aug 2007 19:35:56 GMT)

Impac Mortgage Swings to 2Q Loss
Impac Mortgage Holdings Inc., a real-estate investment trust, said Tuesday it swung to a loss in the second quarter, hurt partly by higher delinquencies and a collapsing mortgage funding market. (Tue, 14 Aug 2007 21:12:26 GMT)

Mortgage Woes Force Thornburg To Delay Dividend
Lender will hold off payments, after plummeting mortgage values drastically reduced the worth of its holdings. (Tue, 14 Aug 2007 21:23:39 GMT)

Thornburg Mortgage delays dividend as stock plunges
Thornburg Mortgage on Tuesday delayed payment of its 68 cent-per-share quarterly dividend to Sept. 17 from Aug. 15, citing "significant disruptions" in the mortgage market. (Tue, 14 Aug 2007 21:35:48 GMT)

Mortgage Group Spent $2.1M Lobbying
The Mortgage Insurance Companies of America spent more than $2.1 million in the first half of 2007 to lobby the federal government, according to a disclosure form. (Tue, 14 Aug 2007 21:59:35 GMT)

US mortgage lender delays dividend amid credit crunch
A leading US mortgage lender that specializes in high-quality, adjustable-rate jumbo loans to homebuyers on Tuesday postponed a dividend payment because of the turmoil in financial markets. (Tue, 14 Aug 2007 23:03:53 GMT)

Aftermarket Movers: Thornburg Mortgage
Shares of Thornburg Mortgage Inc. rose sharply in Tuesday's aftermarket trading session, after the company postponed its second-quarter dividend as the mortgage industry continues to be hurt by a credit crunch. (Tue, 14 Aug 2007 23:16:24 GMT)

Woes of mortgage lender Northern Rock could affect borrowers
Hammered by a liquidity crisis and with little control of its destiny, will the mortgage lender's woes be shared by homeowners? (Tue, 14 Aug 2007 23:41:28 GMT)

Trading Is Halted in Shares of Mortgage Lender
Trading was halted yesterday in shares of the lender Thornburg Mortgage Asset after they plunged 47 percent, the most since their 1993 initial public offering. Earlier, five brokerage firms downgraded the stock and Moody?s Investors Service cut its debt rating amid turmoil in the home loan market. (Wed, 15 Aug 2007 01:11:33 GMT)

Mortgage Fraud Suspect Faces Sex Offender Charges
There are new developments in an ongoing KCRA 3 investigation into mortgage fraud. (Wed, 15 Aug 2007 01:51:58 GMT)

Piatt County senior citizen living project gains 2 million loan
MONTICELLO - The recent approval of a 2 million loan from the U.S. Department of Agriculture has advanced plans for construction of an assisted living facility in Piatt County. (Wed, 15 Aug 2007 05:44:31 GMT)

The new look of mortgage lending
Wall Street and mortgage companies have entirely changed the face of home loan lending in the past 30 days. Here's a look at the emerging landscape: (Wed, 15 Aug 2007 07:16:09 GMT)

At Mortgage Banks, `Going Concerns,' Going, Gone: Jonathan Weil
Aug. 15 (Bloomberg) -- You think your job is tough? Think about the poor schlimazels from Deloitte & Touche LLP who blessed the books at American Home Mortgage Investment Corp., mere months before it went belly up. (Wed, 15 Aug 2007 07:43:14 GMT)

Mortgage crunch has even wealthy buyers scrambling for credit
Mortgage woes have moved upstream, landing even in tony neighborhoods. The credit crunch now is hitting home buyers from all walks of life, not just subprime borrowers with poor credit. That in turn could mean fewer buyers - and lower prices. For instance, a... (Wed, 15 Aug 2007 07:57:16 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Wed, 15 Aug 2007 08:19:33 GMT)

Ahead of the Bell: Mortgage Applications
Investors on Wednesday will get the latest look at how home loan applications are faring as lenders shut their doors and credit dries up for mortgages. (Wed, 15 Aug 2007 10:23:18 GMT)

Mortgage applications up 3.4% last week: MBA survey
CHICAGO (MarketWatch) -- The volume of applications filed seeking mortgages increased at a seasonally adjusted 3.4% last week compared to the prior week, according to the Mortgage Bankers Association's weekly survey. (Wed, 15 Aug 2007 11:25:31 GMT)

U.S. MBA's Mortgage Applications Index Rose 3.4% Last Week
Aug. 15 (Bloomberg) -- Mortgage applications gained 3.4 percent last week to the highest level in almost three months, showing there is still demand to buy homes. (Wed, 15 Aug 2007 11:25:34 GMT)

Mortgage Application Volume Rises
Mortgage application volume rose 3.4 percent during the week ending Aug. 10, according to the industry trade group Mortgage Bankers Association's weekly application survey. (Wed, 15 Aug 2007 11:34:34 GMT)

European stocks plunge on credit squeeze fears
Europe's main stock markets tumbled again on Wednesday as investors were gripped by concerns over a potential global credit crunch sparked by the troubled US home loan sector. (Wed, 15 Aug 2007 11:46:58 GMT)

Mortgage apps climb for 2nd week
But analysts warn number is misleading as potential borrowers file multiple applications. (Wed, 15 Aug 2007 12:01:29 GMT)

For Island residents, loan crisis hits home
STATEN ISLAND, N.Y. -- Homeowners from Huguenot to Mariners Harbor and Rosebank told stories yesterday of living on the brink of foreclosure and financial ruin because of bad subprime loans -- the same kind of sour mortgages rocking Wall Street this week. (Wed, 15 Aug 2007 12:14:12 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Wed, 15 Aug 2007 13:25:28 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Wed, 15 Aug 2007 13:26:09 GMT)

Out of the Gate: Thornburg Mortgage
Shares of Thornburg Mortgage Inc. rebounded after the opening bell Wednesday following a calamitous sell-off of the struggling mortgage lender's stock on Tuesday. (Wed, 15 Aug 2007 14:04:57 GMT)

Minorities worry more about housing slump: poll
African-Americans and Hispanics are far more worried than whites about declining U.S. house prices, and are three times more likely to say it is getting tougher to obtain a home loan, a Reuters/Zogby poll released on Wednesday shows. (Wed, 15 Aug 2007 14:10:11 GMT)

KKR Financial Sells $5.1 Billion in Mortgage Loans (Update1)
Aug. 15 (Bloomberg) -- KKR Financial Holdings LLC shares dropped as much as 39 percent after the firm sold $5.1 billion of mortgage loans for a net loss of about $40 million amid plummeting prices for securities linked to U.S. home loans. (Wed, 15 Aug 2007 14:10:44 GMT)

Mortgage Application Volume Rises
However, MBA's chief economist warns rise in volume could be deceiving of the true mortgage landscape (Wed, 15 Aug 2007 14:31:33 GMT)

Home prices drop for fourth straight quarter
The price of a typical home in the United States continues to drop but at a slower pace, according to a new survey. (Wed, 15 Aug 2007 14:31:49 GMT)

Mortgage applications rise, may be temporary
Mortgage applications rose to a three-month peak last week, driven by a rush to buy or refinance homes before lenders clamp down harder and approve fewer loans, analysts and a trade group said on Wednesday. (Wed, 15 Aug 2007 15:29:22 GMT)

How Tight Are Mortgage Underwriting Standards, Really?
Felix Salmon submits: The WSJ's Jonathan Karp wants to tell us "How the Mortgage Bar Keeps Moving Higher", in the words of his headline. After all, he says, "mortgage lenders are tightening standards, even for borrowers with strong credit". (Wed, 15 Aug 2007 15:41:45 GMT)

Thornburg rebounds, mortgage stocks shaky
Shares of Thornburg Mortgage Inc. rebounded Wednesday from the previous day's dramatic sell-off, but a downgrade of industry leader Countrywide Financial Corp. highlighted ongoing anxieties about the U.S. credit market. (Wed, 15 Aug 2007 16:01:29 GMT)

Canada Mortgage Agency Says Home Starts to Drop Through 2008
Aug. 15 (Bloomberg) -- Canada's federal housing agency said home starts will decline this year and next because of higher housing costs and mortgage rates, while sales of existing homes and spending on renovation will keep rising. (Wed, 15 Aug 2007 16:06:34 GMT)

Think You're Paying Too Much on Your Car Loan?
(ARA) - You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. (Wed, 15 Aug 2007 16:07:36 GMT)

KKR Financial Sells $5.1 Billion in Mortgage Loans (Update2)
Aug. 15 (Bloomberg) -- KKR Financial Holdings LLC shares dropped as much as 39 percent after the firm sold almost half its mortgage loans for a net loss of $40 million and may have more losses as prices fall on bonds linked to U.S. home loans. (Wed, 15 Aug 2007 16:25:37 GMT)

Home prices drop for fourth straight quarter
The typical U.S. home fell in price during the three months ended June 30. The median single-family house sold for $223,800, 1.5 percent less than a year ago. Condo prices rose 1.0 percent to a median of $$226,800. (Wed, 15 Aug 2007 16:31:29 GMT)

Home builders' perceptions of market lowest since 1991
Home builders are getting increasingly pessimistic about future sales, a real estate trade group said Wednesday, as prospective buyers become more wary of jumping into a struggling housing market. (Wed, 15 Aug 2007 18:13:46 GMT)

Mortgage Lenders Look to Tighten Purse Strings
Amid a shaky U.S. mortgage market, lending guidelines are changing quickly. Norman Calvo, president of Universal Mortgage in New York City, talks about the market and his company's approach. (Wed, 15 Aug 2007 18:51:21 GMT)

US private equity giant says mortgage losses may hit 290 mln dlrs
KKR Financial Holdings, an affiliate of US private equity giant Kohlberg Kravis Roberts and Co., said Wednesday it would lose 40 million dollars from the sale of a mortgage portfolio, but warned its losses could balloon to 290 million dollars. (Wed, 15 Aug 2007 20:03:16 GMT)

US private equity giant says mortgage losses may hit 290 mln dlrs
KKR Financial Holdings, an affiliate of US private equity giant Kohlberg Kravis Roberts and Co., said Wednesday it would lose 40 million dollars from the sale of a mortgage portfolio, but warned its losses could balloon to 290 million dollars. (Wed, 15 Aug 2007 20:07:14 GMT)

Fed opens cash spigot as mortgage lenders reel from credit crisis
The Federal Reserve injected more cash into the stressed US financial system Wednesday as some mortgage lenders said they were reeling from a broadening credit crisis. (Wed, 15 Aug 2007 21:46:59 GMT)

Subprime mortgage woes infect commercial paper market
SAN FRANCISCO (MarketWatch) -- Subprime mortgage problems have spread across so much of the credit market that they've begun to cause disruptions in the commercial paper market, which provides a lot of the short-term fuel that keeps corporate America running. (Wed, 15 Aug 2007 22:25:21 GMT)

Homeowners Aiming to Refinance Hit Mortgage Rut
Mortgage applications have risen for the second straight week, with borrowers getting out of adjustable-rate loans in a bid to escape volatility in the financial markets. But mortgage-industry troubles are hanging up homeowners seeking to refinance. (Wed, 15 Aug 2007 23:32:29 GMT)

Homeowners Aiming to Refinance Hit Mortgage Rut
Mortgage applications have risen for the second straight week, with borrowers getting out of adjustable-rate loans in a bid to escape volatility in the financial markets. But mortgage-industry troubles are hanging up homeowners seeking to refinance. (Wed, 15 Aug 2007 23:36:21 GMT)

Bankcruptcy scare for Countrywide, biggest US home lender, as mortgage securities shunned
The global credit crunch led to further sharp falls in the share prices of mortgage lenders on both sides of the Atlantic, while industrial metals tumbled amid a mounting fears of a slowdown. (Wed, 15 Aug 2007 23:57:28 GMT)

RAMS extends note refinancing due to credit squeeze
SYDNEY, Aug 16 (Reuters) - Australian mortgage lender RAMS Home Loans Group Ltd. said on Thursday it had extended the refinancing period for A$6.17 billion ($5.1 billion) in maturing notes. (Thu, 16 Aug 2007 00:47:20 GMT)

HFA Says It Benefited From Exposure to U.S. Subprime Mortgage
Aug. 16 (Bloomberg) -- HFA Holdings Ltd., an Australian hedge fund manager that manages more than $3 billion, said its funds have benefited from the turmoil in the U.S. subprime mortgage market. (Thu, 16 Aug 2007 01:22:40 GMT)

RAMS extends note refinancing, shares plunge
SYDNEY, Aug 16 (Reuters) - Australian mortgage lender RAMS Home Loans Group Ltd. said on Thursday it had extended the refinancing period for A$6.17 billion ($5.1 billion) in maturing notes, slicing its share value in half. (Thu, 16 Aug 2007 01:40:33 GMT)

UPDATE 1-RAMS extends note refinancing, shares plunge
SYDNEY, Aug 16 (Reuters) - Australian mortgage lender RAMS Home Loans Group Ltd. RHG.AX said on Thursday it had extended the refinancing period for A$6.17 billion ($5.1 billion) in maturing notes, slicing its share value in half. (Thu, 16 Aug 2007 01:42:05 GMT)

If You Have an Adjustable Rate Mortgage, Why You Need to Refinance Now
(ARA) - When you signed up for that adjustable rate loan a few years back, it probably seemed like a deal too good to pass up. But fast forward to the present, and you're probably starting to get a little nervous. (Thu, 16 Aug 2007 01:54:00 GMT)

RAMS shares tumble 60% on loan refinancing delays
SYDNEY, Aug 16 (Reuters) - Shares is Australian mortgage lender RAMS Home Loans Group Ltd. extended losses to trade down about 60 percent after it said lack of market liquidity led to a delay in refinancing its extendible commercial paper loans. (Thu, 16 Aug 2007 01:57:17 GMT)

Digger: Ridsdale in a wrangle over Cardiff's £30m loan
Digger: The mystery over Cardiff's finances has deepened as Hammam and Ridsdale allegedly battle over a £30m loan. (Thu, 16 Aug 2007 02:18:06 GMT)

Rams shares plummet on funding troubles
Australian mortgage lender RAMS Home Loans Group Ltd. said on Thursday it had extended the refinancing period for A$6.17bn ($5.1bn) in maturing notes, slicing its share value in half. (Thu, 16 Aug 2007 02:33:49 GMT)

If you can't get a home loan?
My daughter is 18 and working full time, earning $34,000 gross per annum. She can't get a home loan on this salary. Do you think it is a good idea for her to borrow funds for say 12 months to invest in the share market paying interest only, then see what financial situation she is in after that time? Can you recommend a financial company who can accommodate her? (Thu, 16 Aug 2007 02:54:00 GMT)

Maryland Halts Firm's No-Pay Mortgage Offers
The Maryland attorney general took legal action yesterday against a Laurel company that offered homeowners mortgage-free living through a complex investment program. (Thu, 16 Aug 2007 03:41:10 GMT)

Rams Home Loans Fails to Refinance A$6 Billion Debt (Update2)
Aug. 16 (Bloomberg) -- Australia's Rams Home Loans Group Ltd. failed to refinance A$6.17 billion ($5 billion) of short-term debt as buyers shun credit markets on concern that subprime losses will deepen. (Thu, 16 Aug 2007 03:48:25 GMT)

Closing Attorneys See Red Over HomeBanc Mortgage's Bad Checks
Dozens of Atlanta-area real estate closing attorneys are scrambling after receiving $20 million or more in bounced checks last month from HomeBanc Mortgage Corp. Although Georgia law requires lawyers to wait until checks have cleared before closing a mortgage, in practice most real estate closing attorneys don't wait for the money to clear, instead closing when they have a check in hand. Now, ... (Thu, 16 Aug 2007 04:14:29 GMT)

Australian lender fails to refinance 5 billion US dlrs debt
Australian home loan group RAMS said Thursday it had failed to refinance 6.17 billion dollars (five billion US) in debt as fallout from a US mortgage credit crunch starved the market of liquidity. (Thu, 16 Aug 2007 05:04:00 GMT)

Home Wrecker
Marina mobile home park residents call for citywide rent control. Cindy Virtue sorts through a pile of bills and loan statements inside her spacious, white-carpeted house in Lazy Wheel Mobile Home Park and fishes out a petition. (Thu, 16 Aug 2007 05:13:05 GMT)

The President of the Federal Home Loan Bank of NY to Address the Subprime Mortgage Crisis at The American College
Alfred A. DelliBovi, President of the Federal Home Loan Bank of New York will share his economic insights with the public into the subprime mortgage crisis as part of "Subprime: (Thu, 16 Aug 2007 07:01:00 GMT)

Australian lender fails to refinance 5 billion US dlrs debt
SYDNEY (AFP) - Australian home loan group RAMS said Thursday it had failed to refinance 6.17 billion dollars (five billion US) in debt as fallout from a US mortgage credit crunch starved the market of liquidity. (Thu, 16 Aug 2007 07:10:00 GMT)

Freeholders likely to OK debt refinancing plan
The Burlington County Board of Freeholders indicated Wednesday it will approve the county bridge commission's refinancing of the construction debt for the Evergreens retirement center in Moorestown. (Thu, 16 Aug 2007 07:14:57 GMT)

KKR could lose $290 million on mortgage bonds
The investment firm's stock plummets 31% on the news that its debt-backed securities are declining in value. KKR Financial Holdings, a publicly traded debt-investment firm managed by an affiliate of private equity giant Kohlberg Kravis Roberts & Co., said Wednesday that it could lose as much as $290 million because of a decline in the value of mortgage-backed bonds it owns. The company's stock ... (Thu, 16 Aug 2007 07:21:49 GMT)

Australian lender fails to refinance 5 billion US dlrs debt
Signage from Australian home loans group RAMS is displayed in Sydney, 16 August. RAMS said 16 August it had failed to refinance 6.17 billion Australian dollars (five billion USD) in debt as fallout from a US mortgage credit crunch starved the market of liquidity. (Thu, 16 Aug 2007 07:22:09 GMT)

Net Worth: Answers to common questions about the mortgage crisis
As the mortgage market worsens, I'm getting more questions from readers concerned about their home loans and bank accounts. I'll answer a few today. Q: Tim B. asks, "What happens if the holder of your mortgage is one of these cash-strapped companies or even... (Thu, 16 Aug 2007 07:23:58 GMT)

The President of the Federal Home Loan Bank of NY to Address the Subprime Mortgage Crisis at The American College
Alfred A. DelliBovi, President of the Federal Home Loan Bank of New York will share his economic insights with the public into the subprime mortgage crisis as part of "Subprime: Where is the Security?" at the Frank M. Engle Lecture from 1:30 p.m. to 3 p.m. in the La Grassa Auditorium at The American College's Bryn Mawr, Pa. campus on October, 3, 2007. Admission is free, but seating is limited. ... (Thu, 16 Aug 2007 07:38:32 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Thu, 16 Aug 2007 08:19:36 GMT)

Rams Home Loans Fails to Refinance A$6 Billion Debt (Update7)
Aug. 16 (Bloomberg) -- Australia's Rams Home Loans Group Ltd. failed to refinance A$6.17 billion ($5 billion) of short-term U.S. loans, forcing the lender to seek emergency funding. (Thu, 16 Aug 2007 08:33:25 GMT)

Thornburg, American Home Mortgage, Countrywide Financial: Analyzing the Analysts
Tate Dwinnell submits: It was mighty amusing to see the sell ratings on Thornburg Mortgage from Citigroup and AG Edwards yesterday. Oh OK, right got it. Now I should no longer hold TMA and dump it. (Thu, 16 Aug 2007 09:52:39 GMT)

Rams Home Loans Fails to Refinance $5 Billion of Debt (Update8)
Aug. 16 (Bloomberg) -- Australia's Rams Home Loans Group Ltd. failed to refinance A$6.17 billion ($5 billion) of short- term U.S. loans, forcing the lender to seek emergency funding. (Thu, 16 Aug 2007 09:55:34 GMT)

Rams Home Loans Fails to Refinance $5 Billion of Debt (Update8)
Aug. 16 (Bloomberg) -- Australia's Rams Home Loans Group Ltd. failed to refinance A$6.17 billion ($5 billion) of short- term U.S. loans, forcing the lender to seek emergency funding. (Thu, 16 Aug 2007 10:03:25 GMT)

Finding an affordable first home
Question: I'm 27, make about $50,000 a year, and I still live at home. I've got about $80,000 in CDs and a money-market account, another $22,000 in a 401(k) and Roth IRA, and I have no debt. My problem is that the housing prices where I live in Silicon Valley are just way too expensive for me to be able to buy anything. What do you think I should do? - Keith, San Jose, California (Thu, 16 Aug 2007 10:31:29 GMT)

KKR Financial Plunges on Mortgage Losses
KKR Financial Holdings LLC, a unit of buyout giant Kohlberg Kravis Roberts & Co., said Wednesday it could lose over $200 million on leveraged investments in mortgage-backed securities, causing its shares to plunge 31% to $10.52. (Thu, 16 Aug 2007 11:10:36 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Thu, 16 Aug 2007 13:40:39 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Thu, 16 Aug 2007 13:54:07 GMT)

Mortgage rates rise for first time in four weeks
Mortgage rates rose for the first time in four weeks, Freddie Mac reported Thursday. (Thu, 16 Aug 2007 14:46:49 GMT)

U.S. mortgage rates tick up
CHICAGO (MarketWatch) -- Mortgage rates moved up slightly this week, in line with 10-year Treasury rates, Freddie Mac's chief economist said on Thursday. (Thu, 16 Aug 2007 15:10:32 GMT)

World Markets Fall Again on Loan Worries
Global stock markets tumbled again Thursday, battered by persistent worries about U.S. housing loan problems and potential damage to the global economy. (Thu, 16 Aug 2007 16:59:38 GMT)

Mortgage Rates Rise Slightly
Rates on 30-year mortgages edged up slightly this week after falling for three straight weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.62 percent. (Thu, 16 Aug 2007 17:16:02 GMT)

First Magnus mortgage stops lending
First Magnus, a large U.S. mortgage lender based in Tucson, said Thursday that it has stopped funding home loans and taking mortgage loan applications, citing the "collapse of the secondary mortgage market." (Thu, 16 Aug 2007 17:35:20 GMT)

Freddie Mac mortgage rates up
Freddie Mac-asssisted mortgage rates were up across the board this week, a turnaround from a week ago, a report says. (Thu, 16 Aug 2007 18:04:48 GMT)

What a Customer Needs to Get a Mortgage
With the mortgage market in upheaval, fewer borrowers are qualifying for loans -- and those who do need all-but-pristine documentation and credit histories. (Thu, 16 Aug 2007 18:07:28 GMT)

Home loan rules toughened
RALEIGH -- Gov. Mike Easley today approved new restrictions on home loans. (Thu, 16 Aug 2007 18:07:38 GMT)

Mortgage Rates Rise Slightly
WASHINGTON -- Rates on 30-year mortgages edged up slightly this week after falling for three straight weeks. (Thu, 16 Aug 2007 18:21:21 GMT)

30-year mortgage rates edge up after falling for 3 weeks
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.62%. That was up from 6.59% last week, which had been the lowest level since early June. (Thu, 16 Aug 2007 18:27:28 GMT)

Mortgage firm First Magnus Financial halts lending operations
Magnus, which has billed itself as a top privately held mortgage company, is another casualty of the nation's credit crunch. (Thu, 16 Aug 2007 18:43:47 GMT)

Prudential Mortgage Capital Closes $25.8 Million Loan for Fisher Building Apartments
CHICAGO----Prudential Mortgage Capital Company announced today that it has closed a $25.8 million refinancing loan for the Fisher Building, a high-rise apartment complex in Chicago, on behalf of Fannie Mae DUS. (Thu, 16 Aug 2007 18:50:00 GMT)

First Magnus Halts Loans, Citing `Collapse' of Mortgage Market
Aug. 16 (Bloomberg) -- First Magnus Financial Corp., the second-largest privately held U.S. mortgage company, stopped lending after bids for its home loans disappeared. (Thu, 16 Aug 2007 19:11:21 GMT)

US mortgage giant Countrywide borrows 11.5 bln dollars
Countrywide Financial Corp., the leading US mortgage lender, said Thursday it borrowed 11.5 billion dollars from 40 banks to boost its stressed finances, sending shock waves through the markets. (Thu, 16 Aug 2007 19:33:47 GMT)

Ex-Councilwoman Found Guilty In Mortgage Fraud Trial
Former Kansas City Councilwoman Saundra McFadden-Weaver was found guilty Thursday on mortgage fraud charges. (Thu, 16 Aug 2007 19:42:03 GMT)

North Carolina Acts to Rein in Reckless Home Lending
As the disastrous consequences of reckless subprime lending continue to mount, North Carolina lawmakers are standing up for homeowners by making it tougher to offer abusive home loans. Earlier this month, the North Carolina Home Loan Protection Act (HB 1817) passed the State Senate 33-15 and the State House 113-0. Today Governor Mike Easley, a strong supporter of the bill, held a signing ... (Thu, 16 Aug 2007 20:14:00 GMT)

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