Mortgage News Oct 2007

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Mortgage lender to offer modified loans
LOS ANGELES (AP) - The nation's largest mortgage lender says it will begin offering borrowers refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 01:08:26 GMT)

Mortgage lender to offer modified loans
LOS ANGELES (AP) -- The nation's largest mortgage lender says it will begin offering borrowers refinancing or modifications on 16 billion dollars in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 01:10:12 GMT)

Countrywide to offer refinancing to borrowers in trouble
LOS ANGELES — Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday that it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 01:21:13 GMT)

Mortgage lender to offer modified loans
Associated Press - October 23, 2007 9:03 PM ET LOS ANGELES (AP) - The nation's largest mortgage lender says it will begin offering borrowers refinancing or modifications on $16 billion in loans... (Wed, 24 Oct 2007 01:23:42 GMT)

S&P May Cut Ratings of 207 Australian, NZ Mortgage-Backed Bonds
Oct. 24 (Bloomberg) -- Standard & Poor's may cut the credit ratings of 207 Australian and New Zealand residential mortgage- backed securities while it examines the creditworthiness of the insurer of the underlying home loans. (Wed, 24 Oct 2007 01:44:02 GMT)

S&P May Cut Australian, N.Z. Mortgage Bond Ratings (Update1)
Oct. 24 (Bloomberg) -- Standard & Poor's may cut the credit ratings of 207 Australian and New Zealand residential mortgage- backed securities as turmoil in the U.S. subprime market spreads to home loan insurers. (Wed, 24 Oct 2007 02:50:26 GMT)

Mortgage Lender To Help Customers Keep Homes
The nation's biggest mortgage lender has a new plan to help some homeowners keep their houses. (Wed, 24 Oct 2007 03:02:24 GMT)

Mortgage Lender To Help Customers Keep Homes
ORLANDO, Fla. -- The nation's biggest mortgage lender has a new plan to help some homeowners keep their houses. Countrywide will offer refinancing or modifications on $16 billion in loans that have recently reset to higher rates, or will next year. (Wed, 24 Oct 2007 03:06:59 GMT)

Mortgage industry slow to modify loans
LOS ANGELES | Countrywide Financial Corp. said Tuesday that it would offer borrowers refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 03:32:51 GMT)

Orphan Tigers Find New Home
SAN ANTONIO -- A pair of tigers were given a new home in San Antonio after being rescued from an unsanctioned shelter in Ohio. A white tiger and a golden tiger were dropped off at the Wild Animal Orphanage after a three-day ride from Ohio. (Wed, 24 Oct 2007 04:02:18 GMT)

Countrywide offers borrowers refinancing terms
LOS ANGELES (AP) - Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans whose interest rate is set to adjust by the end of 2008. Its shares fell more than 4 percent. (Wed, 24 Oct 2007 04:33:04 GMT)

Mortgage industry feels pressure to give borrowers even more help
LOS ANGELES — Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and foreclosures snowball,... (Wed, 24 Oct 2007 04:57:22 GMT)

Mortgage lenders pressured to offer borrowers relief
LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with... (Wed, 24 Oct 2007 05:21:16 GMT)

S&P May Cut Australian, N.Z. Mortgage Bond Ratings (Update2)
Oct. 24 (Bloomberg) -- Standard & Poor's may cut the credit ratings of 207 Australian and New Zealand residential mortgage- backed securities as turmoil in the U.S. subprime market spreads to home-loan insurers. (Wed, 24 Oct 2007 05:50:25 GMT)

As foreclosures surge, mortgage lenders pressured to offer borrowers relief
Countrywide Financial Corp., the nation's largest mortgage lender, said yesterday that it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 06:38:57 GMT)

Peak Home Loans Announces The Introduction Of FHA Express Home Loan
An FHA Express home loan offers great mortgage choices for those who may have trouble qualifying for other programs. FHA loans include new programs designed to help homeowners who are having trouble making payments because of an increase in their ARM, or those with poor to fair credit. For those with a rising ARM which could lead to foreclosure, take action immediately. (Wed, 24 Oct 2007 07:01:00 GMT)

Home Buying Still in the Cards for Many Self-Employed Americans, Bills.com CEO Stroh Says
Five things self-employed individuals must know to get a home mortgage loan. (Wed, 24 Oct 2007 07:01:00 GMT)

Countrywide Financial offers refinancing help
LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans whose interest rates are set to adjust by the end of 2008. Its shares fell more than 4 percent. (Wed, 24 Oct 2007 07:11:37 GMT)

American Home sues BofA unit over loan losses
American Home Mortgage Investment Corp., a subprime lender under bankruptcy protection, sued a unit of Bank of America Corp. over losses tied to the value of $1.62 billion in loans.American Home sold the loans to a pair of special purpose entities the lender set up in 2004, Broadhollow Funding and Melville Funding. Under so-called swap agreements, Bank of America N.A. agreed to cover losses ... (Wed, 24 Oct 2007 07:12:34 GMT)

Nonprofits fight ban on home loan `gifts'
The government next week will close a home-financing loophole it says has contributed to foreclosures and has put a federal housing assistance program in jeopardy. Yet it will be business as usual for two nonprofit organizations whose core mission is to help sellers funnel down payments to buyers. The U.S. Department of Housing and Urban Development granted AmeriDream Inc. and Nehemiah ... (Wed, 24 Oct 2007 07:14:25 GMT)

American Home sues BofA unit over loan losses
American Home Mortgage Investment Corp., a subprime lender under bankruptcy protection, sued a unit of Bank of America Corp. over losses tied to the value of $1.62 billion in loans.American Home sold the loans to a pair of special purpose entities the lender set up in 2004, Broadhollow Funding and Melville Funding. Under so-called swap agreements, Bank of America N.A. agreed to cover losses ... (Wed, 24 Oct 2007 07:16:47 GMT)

Home Buying Still in the Cards for Many Self-Employed Americans, Bills.com CEO Stroh Says
Five things self-employed individuals must know to get a home mortgage loan. (PRWeb Oct 24, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/UHJvZi1Mb3ZlLUluc2UtTG92ZS1UaGlyLVplcm8= (Wed, 24 Oct 2007 07:17:53 GMT)

Mortgage lenders urged to help borrowers
Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and foreclosures snowball, the mortgage industry is under increasing pressure to do even more to help financially strapped borrowers hang on to their ... (Wed, 24 Oct 2007 07:20:08 GMT)

Sub-prime loan mess just greed
Back when I was buying a home, my Realtor said the rule of thumb for monthly payments was 1 percent of your loan, plus property taxes. (Wed, 24 Oct 2007 07:21:51 GMT)

Mortgage firms lend a helping hand
But industry's under pressure to do more. In coming months, two million adjustable-rate loans are due to reset. Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 07:27:24 GMT)

Peak Home Loans Announces The Introduction Of FHA Express Home Loan
An FHA Express home loan offers great mortgage choices for those who may have trouble qualifying for other programs. FHA loans include new programs designed to help homeowners who are having trouble making payments because of an increase in their ARM, or those with poor to fair credit. For those with a rising ARM which could lead to foreclosure, take action immediately.Whether it's necessary to ... (Wed, 24 Oct 2007 07:46:36 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? (Wed, 24 Oct 2007 08:17:04 GMT)

Merrill takes $7.9B mortgage hit
Merrill Lynch & Co. Inc. took a $7.9 billion writedown in the third quarter due to bad mortgage bets, well exceeding its initial estimates and raising questions about whether the worst is over for the Wall Street firm. (Wed, 24 Oct 2007 08:26:54 GMT)

Mortgage lenders pressured to offer borrowers relief
Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and foreclosures snowball, the mortgage industry is under increasing pressure to do even more. (Wed, 24 Oct 2007 09:40:57 GMT)

Ahead of the Bell: Mortgage Applications
Investors trying to gauge the impact of the housing market's slump on mortgage applications will be watching Wednesday for industry data tracking home loan volumes. (Wed, 24 Oct 2007 10:07:24 GMT)

Ahead of the Bell: Mortgage Legislation
Banking regulators, mortgage industry lobbyists and activists will come to Capitol Hill on Wednesday to discuss major changes to mortgage industry laws, as the industry copes with a surge in defaults. (Wed, 24 Oct 2007 10:09:34 GMT)

Ross OKd to buy unit of American Home Mortgage
Wilbur L. Ross Jr., who became a billionaire by investing in failed steel and textile companies, won approval to buy the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. for as much as $500 million. (Wed, 24 Oct 2007 10:18:53 GMT)

BBVA Third-Quarter Profit Rises on Spain Loan Revenue (Update2)
Oct. 24 (Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA, Spain's second-biggest bank, said profit rose 19 percent in the third quarter on higher lending revenue in its home market. (Wed, 24 Oct 2007 10:45:28 GMT)

Refinance applications up 4% last week, MBA survey shows
CHICAGO (MarketWatch) -- The volume of mortgage applications filed last week rose just slightly, driven by an increase in refinance applications, the Mortgage Bankers Association said on Wednesday. (Wed, 24 Oct 2007 11:06:28 GMT)

No. 1 mortgage lender to offer relief
Countrywide Financial, the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 11:17:50 GMT)

Mortgage applications edge higher, rates plunge
NEW YORK (Reuters) - Mortgage applications barely advanced last week even as interest rates sank to their lowest levels since May, an industry group said on Wednesday, largely reflecting the increasing difficulty borrowers face to obtain a loan as banks tighten lending standards. (Wed, 24 Oct 2007 11:22:07 GMT)

Countrywide Moves to Ease Mortgage Misery
On the eve of the mortgage rate resets for a swath of subprime and prime mortgages, Countrywide Financial on Oct. 23 unveiled a new program that will help up to 82,000 homeowners avoid foreclosure by allowing them to refinance or modify their mortgage loans. But analysts say that the program, which the company's COO called an "unprecedented remedy" in a press release, is just calling public ... (Wed, 24 Oct 2007 12:08:41 GMT)

Mortgage Volume Increases Slightly
Mortgage application volume increased less than 1 percent during the week ending Oct. 19, according to the Mortgage Bankers Association. (Wed, 24 Oct 2007 12:21:15 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Wed, 24 Oct 2007 13:26:10 GMT)

Merrill Jumps Despite Mortgage-Related Writedowns
Stock jumps despite revelation of $5.5B mortgage-related writedowns. (Wed, 24 Oct 2007 14:00:05 GMT)

Mortgage lenders pressured to offer relief
LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adj (Wed, 24 Oct 2007 14:12:04 GMT)

Despite rate plunge, mortgage applications little changed
Mortgage applications barely advanced last week even as interest rates sank to their lowest levels since May, an industry group said Wednesday, largely reflecting the increasing difficulty borrowers face to obtain a loan as banks tighten lending standards. (Wed, 24 Oct 2007 14:35:29 GMT)

Merrill Lynch results walloped by 7.9-billion-dollar mortgage loss
Merrill Lynch, the Wall Street investment bank, said Wednesday it was taking a sharper-than-expected writeoff of 7.9 billion dollars for losses in its mortgage activities in the third quarter. (Wed, 24 Oct 2007 14:40:52 GMT)

Bill tightening mortgage rules wins support from regulators
WASHINGTON (MarketWatch) -- A bill that would require licensing mortgage originators and standards for subprime mortgages won support from two federal banking regulators Wednesday. (Wed, 24 Oct 2007 14:51:27 GMT)

Sector Snap: Mortgage Lenders
Shares of home lenders plunged Wednesday after Merrill Lynch & Co. reported its portfolio of mortgage debt lost much more value than the investment bank thought it would. (Wed, 24 Oct 2007 15:44:46 GMT)

As foreclosures surge, mortgage lenders pressured to offer borrowers relief
Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 15:49:32 GMT)

Home loan report: Not good news for borrowers
People looking to take out a new home loan or refinance an existing one face some bad news all around at the moment. (Wed, 24 Oct 2007 16:27:07 GMT)

Judge Tells Homeowners, New Mortgage Holders To Work Together
Wednesday morning a federal judge in Philadelphia threw out a ruling that had temporarily protected homeowners who had been affected by the sudden closure of Personal Financial Management, a local mortgage company. (Wed, 24 Oct 2007 17:00:02 GMT)

Has the Mortgage Crisis Finally Peaked?
Existing-home sales were down 8% in September, but the National Association of Realtors claims mortgage availability is finally improving (Wed, 24 Oct 2007 19:51:37 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, 24 Oct 2007 20:53:33 GMT)

No. 1 mortgage lender to offer relief
Countrywide Financial, the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Wed, 24 Oct 2007 22:02:46 GMT)

Goddard: Beware of mortgage-rescue scams
Terry Goddard is worried about mortgage-rescue fraud and wants homeowners to be careful. Arizona's attorney general is warning troubled homebuyers to steer clear of scam artists who promise to stop foreclosure proceedings, keep owners in their homes and provide a little cash in the process. There's a catch, he says. (Thu, 25 Oct 2007 01:01:04 GMT)

Home sales plunge in September
Sales of existing homes in the Bay Area and California plummeted in September and prices sank as the subprime mortgage crisis and resulting credit crunch put a squeeze on would-be home buyers, a state real estate trade group reported Wednesday. The trend was... (Thu, 25 Oct 2007 07:20:24 GMT)

On your side? As mortgage lenders feel pressure to help borrowers, little is being done
LOS ANGELES (AP) -- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Thu, 25 Oct 2007 07:26:33 GMT)

Countrywide to offer ARM refinance deals
LOS ANGELES -- Countrywide Financial Corp., the nation's largest mortgage lender, said it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. (Thu, 25 Oct 2007 07:56:38 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 25 Oct 2007 08:30:55 GMT)

U.K. Mortgage Approvals Fall In September - BBA
(RTTNews) - U.K. mortgage approvals for house purchases stood at 52,685 in September, down from 61,051 in August, the British Bankers' Association, or BBA, indicated Thursday. House purchase approvals dropped 27% from the previous year, the lowest September number since 2000, the report said. (Thu, 25 Oct 2007 09:56:19 GMT)

Rates drop, and so do home sales
Home sales are crashing and investors are losing billions of dollars on bad home loans. In all, it spells great news for mortgage rates. (Thu, 25 Oct 2007 10:00:00 GMT)

Mortgage approvals slide in September
Mortgage approvals fell an annual 27 percent in September to their lowest for that month in seven years, a survey showed on Thursday, suggesting higher interest rates and the credit crunch are starting to bite. (Thu, 25 Oct 2007 10:03:00 GMT)

UK mortgage approvals fall
The number of mortgage approvals for home purchase was 27 per cent lower in September than the same month last year and their value was 21 per cent lower, according to figures released on Thursday by the British Bankers' Association. (Thu, 25 Oct 2007 10:10:10 GMT)

Mortgage approvals slow in September
Mortgage approvals in the UK fell during September, a survey revealed today, providing further evidence that higher interest rates and turmoil in financial markets has rattled buyers. (Thu, 25 Oct 2007 10:15:06 GMT)

U.S. mortgage toll could keep soaring
Economists say the meltdown in the U.S. mortgage market could, all told, cost financial firms and investors $400 billion. That is far more than the roughly $240 billion that the U.S. savings and loan crisis of the early 1990s cost. (Thu, 25 Oct 2007 10:53:02 GMT)

MBIA Reports First Loss on Slump in Mortgage Debt (Update1)
Oct. 25 (Bloomberg) -- MBIA Inc., the world's biggest bond insurer, reported its first-ever quarterly loss after writing down the value of mortgage-related debt it guarantees. (Thu, 25 Oct 2007 11:27:41 GMT)

Tumble in mortgage lending fuels housing fears
Mortgage lending slumped 27pc last month, sparking a very real risk of a correction in the UK housing market, according to industry experts. (Thu, 25 Oct 2007 12:02:31 GMT)

Has the Mortgage Crisis Finally Peaked?
In recent months, mortgage issues have been a main force hampering home sales but, according to a new report from the National Association of Realtors, mortgage availability is finally improving -- even as home sales continue to slide. (Thu, 25 Oct 2007 12:08:41 GMT)

FBR's 3Q Loss Grows on Mortgage Weakness
Investment banking firm Friedman, Billings, Ramsey Group Inc. said Thursday its third-quarter losses widened due to the weakening of the mortgage market. (Thu, 25 Oct 2007 12:25:07 GMT)

MBIA Reports First Loss on Slump in Mortgage Debt (Update1)
Oct. 25 (Bloomberg) -- MBIA Inc., the world's biggest bond insurer, reported its first-ever quarterly loss after writing down the value of mortgage-related debt it guarantees. (Thu, 25 Oct 2007 12:35:43 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 25 Oct 2007 13:10:14 GMT)

Mortgage rates fall
Fears of a slowing economy over the next few months helped push mortgage rates lower, Freddie Mac reported Thursday. (Thu, 25 Oct 2007 14:42:04 GMT)

Injury halts De Vries loan spell
Leicester striker Mark De Vries' loan spell at Leeds is curtailed after he suffered a broken toe. (Thu, 25 Oct 2007 14:44:01 GMT)

Bank mortgage lending slumps
There was a slump in fresh mortgage lending by some of the UK's biggest banks last month. (Thu, 25 Oct 2007 14:52:03 GMT)

Federal Home Loan Bank of Cincinnati Announces Results of Director Elections
CINCINNATI, Oct. 25, 2007 -- The Federal Home Loan Bank of Cincinnati's board of directors announced the results of the FHLBank's 2007 director elections. A new director was elected from Ohio, and the board reappointed two Tennessee directors who stood for election without opposition. (Thu, 25 Oct 2007 15:02:06 GMT)

CORRECT: U.S. mortgage rates drop
CHICAGO (MarketWatch) -- Mortgage rates fell this week, due to worries about slower economic growth, Freddie Mac's chief economist said on Thursday. (Thu, 25 Oct 2007 15:07:37 GMT)

Economy worries hold down mortgage rates
Mortgage rates were held lower by worries over a slowing economy and a continuing housing slump, the Freddie Mac Primary Mortgage Survey said Thursday. (Thu, 25 Oct 2007 15:26:46 GMT)

First Banks sees Q3 profit fall 50% on loan market decline
First Banks Inc.'s third-quarter net income dropped nearly 50 percent as a result of unstable market conditions surrounding subprime loan products and declining market conditions in its land acquisition, development and construction loan portfolios. (Thu, 25 Oct 2007 16:58:45 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, 25 Oct 2007 18:37:19 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Thu, 25 Oct 2007 18:52:01 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Thu, 25 Oct 2007 21:06:56 GMT)

Five Top Tips For Taking Out A Personal Loan
Alison Hunt gives some tips for choosing the right personal loan. (Thu, 25 Oct 2007 21:07:24 GMT)

BofA to exit wholesale mortgage business
Following a huge third-quarter decline, the company plans to exit the wholesale mortgage business and cut about 700 jobs. (Thu, 25 Oct 2007 21:26:54 GMT)

BofA to exit wholesale-mortgage business
Bank of America Corp. will exit its consumer wholesale-mortgage business, a move that will eliminate 700 jobs. (Thu, 25 Oct 2007 22:20:04 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. (Thu, 25 Oct 2007 22:36:35 GMT)

BofA to exit consumer mortgage wholesale business
In addition to scaling back its investment banking operations, Bank of America (BAC) is exiting the wholesale mortgage business and eliminating about 700 jobs, bank officials said Thursday. (Thu, 25 Oct 2007 22:42:37 GMT)

BofA to exit mortgage wholesale business
In addition to scaling back its investment banking operations, Bank of America Corp. is exiting the wholesale mortgage business and eliminating about 700 jobs, bank officials said Thursday. (Thu, 25 Oct 2007 23:06:36 GMT)

Federal Home Loan Bank of San Francisco Reports Third Quarter Operating Results
SAN FRANCISCO----The Federal Home Loan Bank of San Francisco today announced that its third quarter 2007 net income was $135 million, compared to $140 million in the third quarter of 2006. (Thu, 25 Oct 2007 23:33:00 GMT)

Fresh fall in loan approvals for home buying
The number of mortgage approvals for home purchases fell by 27 per cent last month, compared with September 2006, and their value was down 21 per cent, according to figures released on Thursday by the British Bankers' Association (BBA). (Fri, 26 Oct 2007 00:55:18 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. (Fri, 26 Oct 2007 01:08:57 GMT)

DBS's Third-Quarter Profit Rises 11% on Loan Growth (Update2)
Oct. 26 (Bloomberg) -- DBS Group Holdings Ltd., Southeast Asia's biggest bank by assets, posted an 11 percent increase in third-quarter profit, beating analysts' estimates as loan growth accelerated on demand from homebuyers. (Fri, 26 Oct 2007 03:35:53 GMT)

DBS's Third-Quarter Profit Rises 11% on Loan Growth (Update3)
Oct. 26 (Bloomberg) -- DBS Group Holdings Ltd., Southeast Asia's biggest bank by assets, posted an 11 percent increase in third-quarter profit, beating analysts' estimates as loan growth accelerated on demand from homebuyers. (Fri, 26 Oct 2007 04:35:55 GMT)

Caught in the Mortgage Spiral, FBR Triples Its 3rd-Quarter Loss
Friedman Billings Ramsey Group, the Washington area's largest investment bank, said its losses tripled in the third quarter compared with a year ago following declines in the mortgage market and the sale of a subprime mortgage lender. (Fri, 26 Oct 2007 05:43:33 GMT)

Home loan rates tipped to hit 8.65%
Borrowers are tipped to cop even steeper lending rates if the Reserve Bank of Australia (RBA) raises interest rates next month. (Fri, 26 Oct 2007 05:48:11 GMT)

Utah announces mortgage fraud task force
Utah ranks as one of the biggest hot spots in the country for mortgage fraud and several high-profile cases have brought recent attention to the issues. To help combat the problem, state and federal officials announced a new task force that will target mortgage fraud schemes. Gov. (Fri, 26 Oct 2007 07:24:29 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? (Fri, 26 Oct 2007 08:58:55 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 26 Oct 2007 09:37:41 GMT)

BofA job cuts hit wholesale mortgage business
Bank of America Corp. on Thursday provided new details on 3,000 planned job cuts, saying it will eliminate 700 of the positions in the wholesale mortgage business. The Charlotte bank informed affected employees Thursday. Processing centers in Dallas; Richmond, Va.; and two California cities -- Brea and Rancho Cordova -- will be the hardest hit. The rest of the cuts are spread around the country, ... (Fri, 26 Oct 2007 10:29:21 GMT)

Citing fraud, state closes loan broker
State banking regulators shut down New England Merchants Corp. on Wednesday, charging that the Arlington mortgage firm inflated incomes of borrowers on loan applications and used unlicensed loan brokers. (Fri, 26 Oct 2007 10:45:57 GMT)

Bank to end loans to mortgage brokers
CHARLOTTE - Bank of America Corp. , the second-biggest US bank, plans to stop making loans to mortgage brokers by year-end, a move that will cut 700 jobs, the bank said yesterday. (Fri, 26 Oct 2007 11:02:50 GMT)

Local victims of subprime mortgage meltdown heard
Western New York has largely escaped the biggest impact of the subprime mortgage meltdown that has hammered the nation, but that doesn’t mean all its residents are spared. (Fri, 26 Oct 2007 11:03:56 GMT)

Mortgage crisis brings rush of bills
Distress in the mortgage market is stirring up a wave of new relief bills on Capitol Hill, including one that would allow homeowners to tap into their retirement accounts - penalty-free - to bring their loans current or to refinance. (Fri, 26 Oct 2007 11:51:57 GMT)

Countrywide Financial swings to loss of $1.2 billion on weakening mortgage market
Countrywide Financial Corp., the largest U.S. mortgage lender, said Friday it swung to a loss of more than $1 billion (€700 million) in the third quarter on to rising loan-loss provisions, writedowns and dwindling origination volume. (Fri, 26 Oct 2007 13:06:01 GMT)

M&T Bank-NYC Provides $250M for NYC Mixed-Use Community's Refinancing
New York--M&T Bank-NYC has arranged $250 million for the refinancing of New York-based JEMB Realty's Herald Towers, a trio of 25-story buildings located in Manhattan at 50 West 34th St. The buildings, situated in Herald Square within walking distance of Penn Station and the Empire State Building, contain 693 apartments as well as several retailers, including clothing stores Gap and Forever 21. (Fri, 26 Oct 2007 13:06:34 GMT)

FOX411: Jackson Defaults on $23M Loan
Creditors threaten to take Michael Jackson's Neverland Ranch if he doesn't pay up on $23 million loan (Fri, 26 Oct 2007 13:23:27 GMT)

Mortgage woes force quarterly loss for Countrywide
LOS ANGELES — Countrywide Financial Corp., the nation’s largest mortgage lender, said Friday it swung to a loss of more than $1 billion in the third quarter as mortgage market woes forced it to set aside millions in loan-loss provisions and writedowns, and the lender originated fewer loans. (Fri, 26 Oct 2007 13:42:58 GMT)

Mortgage rates fall to lowest level in six weeks
Rates on 30-year mortgages fell to the lowest level in six weeks as financial markets grew more hopeful that the Federal Reserve will boost the sluggish economy by cutting interest rates further. (Fri, 26 Oct 2007 14:16:43 GMT)

U.S. Home Vacancies Rise to Record as Loan Foreclosures Surge
Oct. 26 (Bloomberg) -- A record 17.9 million U.S. homes stood empty in the third quarter as lenders took possession of a growing number of properties in foreclosure. (Fri, 26 Oct 2007 14:57:30 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 26 Oct 2007 15:53:19 GMT)

US mortgage firm sees $1.2bn loss
US mortgage giant Countrywide Financial sees more than $1bn in quarterly losses - but improved forecasts send shares surging. (Fri, 26 Oct 2007 16:23:39 GMT)

California home-loan default numbers set record
Chart: Default notices by county A record number of California homeowners entered the foreclosure process in the third quarter, a real estate information service reported today. (Fri, 26 Oct 2007 18:34:46 GMT)

Mortgage woes propel Calif. foreclosures to record
Mortgage lenders launched more than 70,000 foreclosure proceedings in California in the third quarter, marking a record for the state, where many housing markets are slumping amid mortgage market turmoil, according to a report released on Friday. (Fri, 26 Oct 2007 18:51:09 GMT)

Mortgage Woes Likely to Linger Into 2008
In all phases of the mortgage industry this week, from the people who make the loans to the people who insure them, the news was bad -- and most of them expect it to get worse. (Fri, 26 Oct 2007 19:23:36 GMT)

Mortgage woes propel Calif. foreclosures to record
SAN FRANCISCO (Reuters) - Mortgage lenders launched more than 70,000 foreclosure proceedings in California in the third quarter, marking a record for the state, where many housing markets are slumping amid mortgage market turmoil, according to a report released on Friday. (Fri, 26 Oct 2007 19:37:41 GMT)

Mortgage giant has huge quarter loss
Countrywide Financial, the mortgage giant and massive subprime loan victim, reported a third-quarter loss of $1.2 billion Friday. (Fri, 26 Oct 2007 19:56:06 GMT)

Official Calls for Home Loan Oversight
A top banking regulator said Friday the federal government and states should work together to create uniform regulations for mortgage lenders in the wake of surging home loan defaults. (Fri, 26 Oct 2007 20:56:29 GMT)

California's Home-Loan Defaults Rise to Decade High (Update2)
Oct. 26 (Bloomberg) -- California mortgage defaults more than doubled in the third quarter to the highest level in more than a decade as the housing slump battered homeowners. (Fri, 26 Oct 2007 21:06:05 GMT)

New Ideas In Congress, But Not All Have Traction
Distress in the mortgage market is generating a wave of relief bills on Capitol Hill, including one that would allow homeowners to tap into their retirement accounts -- penalty-free -- to bring their loans current or to refinance. (Fri, 26 Oct 2007 21:17:28 GMT)

BofA to exit wholesale-mortgage business
Bank of America Corp. will exit its consumer wholesale-mortgage business, a move that will eliminate 700 jobs. (BAC) (Fri, 26 Oct 2007 21:35:06 GMT)

Countrywide Financial reports Q3 loss of $1.2B on mortgage woes
LOS ANGELES - Countrywide Financial Corp. lost US$1.2 billion in the third quarter, but its shares soared Friday after the largest U.S. mortgage lender said it expects to be profitable this quarter and next year. (Fri, 26 Oct 2007 23:29:00 GMT)

Mortgage industry facing more troubles
In all phases of the mortgage industry this week, from the people who make the loans to the people who insure them, the news was bad - and most of them expect it to get worse. Things have gotten so tough, title insurer Stewart Information Services Corp. said it could not cut costs fast enough in August and September to keep up with the plummeting market. The company has already made "significant ... (Sat, 27 Oct 2007 05:13:10 GMT)

Court gives first nod to refinancing
Warren Fiscal Court gave first-round approval Thursday morning to clearing the way for refinancing bonds on the Kentucky TriModal Transpark. Magistrates voted 5-0 to approve a new interlocal agreement between the city, county and two county-created agencies linked to the transpark. (Sat, 27 Oct 2007 06:19:12 GMT)

Home loan defaults soaring
Beth Flure thought last week was overwhelming when some East Coast banks sent her 11 new foreclosed houses to sell. (Sat, 27 Oct 2007 07:08:05 GMT)

Kenneth Harney: Relief measures for mortgage meltdown
WASHINGTON — Distress in the mortgage market is stirring up a wave of new relief bills on Capitol Hill, including one that would allow homeowners to tap into their retirement accounts — penalty-free — to bring their loans current or to refinance. (Sat, 27 Oct 2007 07:25:38 GMT)

Biggest home lender says it's mending
LOS ANGELES — Just a couple of months ago, worries that the home loan crisis would sink Countrywide Financial Corp., the nation's largest mortgage lender, sent customers bolting to yank their savings from the company's banking subsidiary. (Sat, 27 Oct 2007 07:25:48 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. (Sat, 27 Oct 2007 08:13:45 GMT)

Mortgage lender loses $1B in 3Q
Countrywide Financial Corp., the nation's largest mortgage lender, said Friday that it swung to a loss of more than $1 billion in the third quarter. Mortgage market woes forced it to set aside millions in loan-loss provisions and writedowns, and the lender originated fewer loans. It was the first quarterly loss for the Calabasas, Calif.-based lender in 25 years. (Sat, 27 Oct 2007 08:14:59 GMT)

California mortgage defaults hit record
With home sales plummeting, values sliding and mortgage companies newly picky about who can refinance, more California homeowners than ever before faced foreclosure last quarter. (Sat, 27 Oct 2007 08:44:54 GMT)

Lawmakers face painful reality in loan crisis
Washington- If you want to see a Democratic or Republican congressman squirm, mention a multibillion-dollar bailout for the housing market crisis. The apparent discomfort contrasts with reality: most risky home loans made near the end of the housing boom can't be salvaged. (Sat, 27 Oct 2007 08:56:13 GMT)

Mortgage industry facing more troubles
In all phases of the mortgage industry this week, from the people who make the loans to the people who insure them, the news was bad — and most of them expect it to get worse. (Sat, 27 Oct 2007 10:00:32 GMT)

Questions and answers about the mortgage market
WASHINGTON — Mortgages are complicated, and lending markets are in flux right now, but savvy, well-positioned consumers still can get the loans they need to buy, build or refinance a home. (Sat, 27 Oct 2007 13:21:23 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? (Sat, 27 Oct 2007 13:21:35 GMT)

Top Classifieds
With home sales plummeting, values sliding and mortgage companies newly picky about who can refinance, more California homeowners than ever before faced foreclosure last quarter. (Sat, 27 Oct 2007 15:39:22 GMT)

Mortgage woes propel Calif. foreclosures to record
SAN FRANCISCO (Reuters) - Mortgage lenders launched more than 70,000 foreclosure proceedings in California in the third quarter, marking a record for the state, where many housing markets are slumping amid mortgage market turmoil, according to a report released on Friday. Mortgage lenders filed 72,571 notices of default against delinquent borrowers from July through September, up 34.5 percent ... (Sat, 27 Oct 2007 16:26:26 GMT)

Mortgage firm shifts affiliation, reassures clients
PITTSFIELD — While state banking regulators have shut down the parent corporation of a Pittsfield mortgage company, the local office of New England Merchants will continue operating under a new affiliation with an Agawam-based mortgage firm, according to the chief broker there. (Sat, 27 Oct 2007 18:02:39 GMT)

Mortgage payments never late, but foreclosure still looms
Q: Even though we've never missed -- or been late with -- a payment on our $78,000 mortgage, my wife and I are being threatened with default and foreclosure. (Sat, 27 Oct 2007 19:02:40 GMT)

SBI launches Reverse Mortgage Loan in Gujarat
Country's largest public sector lender State Bank of India (SBI) has launched two new schemes - Reverse Mortgage Loan and SBI Home Cash - for people in Gujarat. (Sat, 27 Oct 2007 21:14:16 GMT)

Loan tenure depends on age
The length of your home loan tenure is a function of your age. The maximum tenure provided by banks ranges from 20-25 years. You may consult your bank and request for an increase in the loan tenure. (Sat, 27 Oct 2007 22:46:36 GMT)

Commercialbank offers mortgage loan for Danat
Staff Reporter INTERNATIONAL property services firm, Asteco, will offer buyers of Danat Qatar apartments, a new innovative mortgage scheme provided by Commercialbank, according to a company official. (Sat, 27 Oct 2007 23:14:02 GMT)

Area banks increase loan-loss reserves as 'bubble' bursts
Banks doing business in the Madison area are boosting their reserves against loan losses, and bankers say they are seeing more financial stress among developers of residential properties and contractors such as electricians and plumbers who work on housing projects. "What we have here is somewhat the bursting of the real estate bubble, " said Don Wilson, chief financial officer of Amcore ... (Sun, 28 Oct 2007 00:51:20 GMT)

Watch out for tricks in 'magic' mortgage
A new kind of mortgage can, as if by magic, make a 30-year mortgage disappear in half the time, or so the lenders claim. And that's what readers are telling me, just before asking whether it is too good to be true. (Sun, 28 Oct 2007 01:36:23 GMT)

Top Classifieds
With home sales plummeting, values sliding and mortgage companies newly picky about who can refinance, more California homeowners than ever before faced foreclosure last quarter. (Sun, 28 Oct 2007 02:23:48 GMT)

Dark skies ahead for mortgage industry
NEW YORK — In all phases of the mortgage industry this week, from the people who make the loans to the people who insure them, the news was bad — and most of them expect it to get worse. Things have gotten so tough, title insurer Stewart Information Services Corp. said it could not cut costs fast enough in August and September to keep up with the plummeting market. The company has already made ... (Sun, 28 Oct 2007 04:09:11 GMT)

Most say home loan bailout unrealistic
Most risky home loans made near the end of the housing boom can't be salvaged. (Sun, 28 Oct 2007 05:50:37 GMT)

Refinance or get a second?
Borrower needs $50,000 to pay debts, improve property Question: My house is worth $400,000. The balance of my 5.5% first mortgage is $270,000, and I need $50,000 to pay off debts and make improvements. I spoke to three mortgage brokers, and all advised me to refinance my first mortgage for about $325,000. I was thinking that I would just take a second mortgage for $50,000, but the brokers all ... (Sun, 28 Oct 2007 07:09:50 GMT)

Mortgage fallout may hit first-time buyers
It's a lot tougher for first-time home buyers to secure a mortgage these days. (Sun, 28 Oct 2007 08:20:43 GMT)

Consumer loan and savings rates
Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing. (Sun, 28 Oct 2007 09:04:27 GMT)

Insurance may boost your mortgage payment
When you're calculating how much your monthly payment will be on your new home, here's another number you may have to include: mortgage insurance. (Sun, 28 Oct 2007 09:32:52 GMT)

Want a Mortgage? Start by Settling Your Score
(ARA) - Anyone who's been denied credit may feel the old adage "you can't fight city hall" should be replaced by a new axiom: "You can't fight the credit system." But not only can you fight, if you're even thinking about applying for a mortgage in the future, you almost certainly need to. (Sun, 28 Oct 2007 09:38:32 GMT)

Want a Mortgage? Start by Settling Your Score
(ARA) - Anyone who's been denied credit may feel the old adage "you can't fight city hall" should be replaced by a new axiom: "You can't fight the credit system." But not only can you fight, if you're even thinking about applying for a mortgage in the future, you almost certainly need to. (Sun, 28 Oct 2007 09:38:39 GMT)

'Line-of-credit mortgage' creates an illusion
A new kind of mortgage can, as if by magic, make a 30-year mortgage disappear in half the time. (Sun, 28 Oct 2007 10:15:57 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? (Sun, 28 Oct 2007 10:23:11 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? (Sun, 28 Oct 2007 10:37:42 GMT)

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