Mortgage News Feb 2008

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It's a good time to refinance, but only if your credit score is high
The past few months have been lonely ones for mortgage lenders, but business is picking up. The phones are ringing, and banks don't have to give away doughnuts to attract customers. They've got something much more enticing to offer: rock-bottom mortgage rates. (Sun, 24 Feb 2008 08:09:03 GMT)

Times are tough for mortgage brokers
For those still in the industry, life is tough these days for mortgage brokers. (Sun, 24 Feb 2008 08:11:25 GMT)

Mortgage: Is it time for you to refinance?
Federal Reserve rate cuts are stirring up a flurry of phone calls to local mortgage brokers from homeowners looking to refinance. (Sun, 24 Feb 2008 08:13:08 GMT)

Consider less home instead of smaller loan
Daniel Mudd, chief executive of Fannie Mae, knows the feeling when a physician attends a party and a guest wants a diagnosis for a rash or some other unexplained ailment. (Sun, 24 Feb 2008 08:14:32 GMT)

DAVID MYERS: Interest adds up in 40-year mortgage
Dear David: I want to buy my first house but keep my payments as low as possible, because a lot of my income already goes toward making the minimum payments on my credit cards and auto loan. The mortgage broker that I am working with suggests that I take out a 40-year loan instead of a typical 30-year loan, because stretching the payments out over an extra 10 years will lower my monthly housing ... (Sun, 24 Feb 2008 08:21:05 GMT)

Mortgage crisis squeezes student loans
If you want to borrow a lot of money for college, you are not going to like what the mortgage mess is doing to you. The credit crunch has spread like a disease, infecting a broad range of loans. (Sun, 24 Feb 2008 08:25:23 GMT)

Mortgage insurance split eyed
| A seemingly arcane policy change by mortgage investor Freddie Mac sheds new light on issues of much broader concern for consumers: Do you really understand where the money is flowing -- all the nooks and crannies -- when you take out a mortgage and pay thousands of dollars in fees at settlement? (Sun, 24 Feb 2008 08:46:44 GMT)

Change affects mortgage-insurance split
An arcane policy change by mortgage investor Freddie Mac sheds new light on issues of much broader concern for consumers: Do you really understand where the money flows when you take out a mortgage and pay thousands of dollars in fees at settlement? (Sun, 24 Feb 2008 08:49:12 GMT)

Refinance mortgage to buy dream house on lake
Q -- We're a couple in our mid-50s whose children have both graduated from college. Our combined income is $175,000. (Sun, 24 Feb 2008 10:06:17 GMT)

Loose rules helped push refinancing
About 34 percent of all refinance loans for single-family homeowners in Iowa in 2006 were high-interest. Only nine states had a higher percentage. (Sun, 24 Feb 2008 10:07:08 GMT)

New home loan from Doha Bank and Capital Investment
24 February 2008 Doha - Capital Investment CEO Hafsa Al Alma and Doha Bank CEO, R Seetharaman recently announced a new financing agreement to offer a new home loan to buyers of Asteco's danatQatar. (Sun, 24 Feb 2008 10:16:25 GMT)

30-year mortgage rates rise
WASHINGTON (AP) — Rates on 30-year mortgages rose to the highest level in seven weeks, breaking above the 6 percent level. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.04 percent this past week,... (Sun, 24 Feb 2008 11:02:54 GMT)

Senate aims to ease mortgage troubles
The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. (Sun, 24 Feb 2008 11:20:32 GMT)

Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Sun, 24 Feb 2008 11:25:16 GMT)

Where ‘Mortgage’ Isn’t a Scary Word
A confluence of economic circumstances is blamed for the dismal performance of mortgage REITs, but a handful of them is thriving as the economy falters. (Sun, 24 Feb 2008 11:39:53 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? (Sun, 24 Feb 2008 12:10:14 GMT)

Bright spot for homeowners :Two new 2007 tax breaks help in struggle with mortgage payments.
In a year of bad mortgage news, there's a bright spot or two for homeowners: Foreclosure comes with a tax break, and 2007 mortgage insurance payments may be tax-deductible. (Sun, 24 Feb 2008 12:15:52 GMT)

Doha Bank and Capital Investment offer new home loan for danatQatar
Capital Investment CEO Hafsa Al Alma and Doha Bank CEO, R. Seetharaman recently announced a new financing agreement together with Asteco, to offer a new home loan to buyers of danatQatar. (Sun, 24 Feb 2008 12:53:19 GMT)

Mortgage crisis spills over into school loans
Associated Press - February 24, 2008 8:55 AM ET CONCORD, N.H. (AP) - New Hampshire financial experts who have been watching the growing subprime mortgage crisis are now predicting that parents... (Sun, 24 Feb 2008 14:10:21 GMT)

Consumers get little from cuts
So the Fed's interest rate cuts were supposed to make borrowing easier, right? If only that were so. Instead, jumbo mortgage rates are higher now than they were when the Fed began taking monetary action in September and have even shot up since the central bank's aggressive rate cuts late last month. That makes it harder for homeowners to refinance those loans. (Sun, 24 Feb 2008 14:17:34 GMT)

Mortgage crisis spills over into school loans
New Hampshire financial experts who have been watching the growing subprime mortgage crisis are now predicting that parents and students will have more trouble borrowing to pay for college this year. (Sun, 24 Feb 2008 14:29:07 GMT)

Seldom-read home loan docs must change: experts
The papers that U.S. borrowers sign when buying a house are piled so high that few people read them all, and even fewer absorb the information. (Sun, 24 Feb 2008 15:09:34 GMT)

Seldom-read home loan docs must change: experts
WASHINGTON (Reuters) - The papers that U.S. borrowers sign when buying a house are piled so high that few people read them all, and even fewer absorb the information. (Sun, 24 Feb 2008 15:40:52 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Sun, 24 Feb 2008 17:40:05 GMT)

Where ‘Mortgage’ Isn’t a Scary Word
A confluence of economic circumstances is blamed for the dismal performance of mortgage REITs, but a handful of them is thriving as the economy falters. (Sun, 24 Feb 2008 20:39:51 GMT)

Mortgage pain on way
THE big banks are considering a top-up mortgage rate rise in addition to a Reserve Bank-sanctioned increase if, as expected, the official cash rate is lifted by a further 25 basis points early next month. (Sun, 24 Feb 2008 23:31:14 GMT)

Amid mortgage crisis, pets find Safe Haven at shelters
The mortgage crisis has claimed many homes across the Miami Valley, but animal shelters and humane societies are offering hope to people in danger of permanently losing pets. (Mon, 25 Feb 2008 00:58:54 GMT)

Where ‘Mortgage’ Isn’t a Scary Word
A confluence of economic circumstances is blamed for the dismal performance of mortgage REITs, but a handful of them is thriving as the economy falters. (Mon, 25 Feb 2008 03:38:50 GMT)

Mortgage refinance boom comes to Birmingham
Local mortgage lenders' refinance business is booming after numerous interest rate cuts by the Federal Reserve. (Mon, 25 Feb 2008 06:41:03 GMT)

Congress ponders more solutions to home-loan crisis
WASHINGTON -- Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market. (Mon, 25 Feb 2008 10:12:22 GMT)

Bank mortgage lending 'subdued'
Mortgage lending in January by the UK's biggest banks continued to be subdued, with remortgages dominating. (Mon, 25 Feb 2008 10:38:12 GMT)

Bank mortgage lending 'subdued'
Mortgage lending in January by the UK's biggest banks continued to be subdued, with remortgages dominating. (Mon, 25 Feb 2008 10:38:42 GMT)

Small banks upbeat over mortgage crisis
Smaller banks nationwide were “mildly optimistic” a few months ago about increasing mortgage lending this year because they have largely avoided the high-risk loan business, a survey released Thursday shows. (Mon, 25 Feb 2008 11:05:48 GMT)

UK January Mortgage Approvals Rise - BBA
(RTTNews) - UK mortgage approvals increased to 44,288 in January from 42,343 in December, the British Bankers' Association said Monday. Remortgaging totaled 79,016, up from 67,535 the previous month. (Mon, 25 Feb 2008 11:26:12 GMT)

Mortgage approvals pick up
LONDON (Reuters) - Mortgage approvals picked up from near record lows in January, the British Bankers' Association says, indicating an expected slowdown in the housing market may be less severe than some fear. (Mon, 25 Feb 2008 11:27:56 GMT)

Mortgage crisis spills over into school loans
CONCORD, N.H. (AP) — New Hampshire financial experts who have been watching the growing subprime mortgage crisis are now predicting that parents and students will have more trouble borrowing to pay for college this year. (Mon, 25 Feb 2008 11:27:56 GMT)

Congress To Grill Mortgage Executives
Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market. (Mon, 25 Feb 2008 11:31:30 GMT)

Mortgage approvals and lending pick up
Mortgage approvals picked up from near record lows in January, the British Bankers' Association said on Monday, indicating an expected slowdown in the housing market may be less severe than some fear. (Mon, 25 Feb 2008 11:32:00 GMT)

Consider less home instead of smaller loan
Daniel Mudd, chief executive of Fannie Mae, knows the feeling when a physician attends a party and a guest wants a diagnosis for a rash or some other unexplained ailment. (Mon, 25 Feb 2008 11:38:37 GMT)

Beat can go on loan, says Mowbray
West Brom boss Tony Mowbray is reportedly ready to let striker Craig Beattie leave The Hawthorns on loan in a bid to rediscover some form. (Mon, 25 Feb 2008 11:57:36 GMT)

Beat can go on loan, says Mowbray
West Brom boss Tony Mowbray is reportedly ready to let striker Craig Beattie leave The Hawthorns on loan in a bid to rediscover some form.Scotland star Beattie joined the Baggies from Celtic in a £1.25million deal last summer, but has failed to make an impact or hold down a first-team spot. (Mon, 25 Feb 2008 12:00:09 GMT)

UK January Mortgage Approvals, Lending Increase - BBA
(RTTNews) - UK's mortgage approvals for house purchases increased significantly in January, the British Bankers' Association said Monday. The number of mortgage approvals increased to 44,288 in January from 42,343 in December. However, mortgage approvals fell 31.3% from the previous year. (Mon, 25 Feb 2008 12:57:00 GMT)

Spitzer Among Governors Urging Feds to Act on Mortgage Crisis
Washington (AP) -- Governor Eliot Spitzer was one of many U.S. governors who called this weekend on the Bush Administration to deliver a comprehensive solution to the ongoing mortgage crisis. (Mon, 25 Feb 2008 13:13:02 GMT)

Spitzer Among Governors Urging Feds to Act on Mortgage Crisis
Washington (AP) -- Governor Eliot Spitzer was one of many U.S. governors who called this weekend on the Bush Administration to deliver a comprehensive solution to the ongoing mortgage crisis. (Mon, 25 Feb 2008 13:16:10 GMT)

Mortgage forgiveness tax forms available now
Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return. (Mon, 25 Feb 2008 13:31:04 GMT)

Community National Bank Hires Branch Manager, VP/Corporate Controller and SVP/Senior Loan Officer for Headquarters
Community National Bank (CNB) (stock symbol CBNY, OTCBB), Long Island's fastest growing commercial community bank, recently hired Branch Manager, Alba Spinelli, VP/Corporate Controller, Jay McConie, and SVP/Senior Loan Officer, Conrad Gunther, Jr., for CNB's corporate office in Great Neck, NY. (Mon, 25 Feb 2008 15:37:39 GMT)

Stronger mortgage data props up pound vs dollar
Sterling steadied versus the dollar on Monday as news of growing mortgage approvals eased concerns about a potentially sharp slowdown in the housing market. (Mon, 25 Feb 2008 15:44:00 GMT)

UK mortgage lending rises in January
Overall UK mortgage lending rose slightly in January, boosted by refinancings, but the number of new loans to homebuyers - considered a better guide to future housing demand - were down 31.3 per cent year on year, according to the latest data from the British Bankers' Association. (Mon, 25 Feb 2008 15:45:15 GMT)

Home sales, prices continue downward trend in January
Home sales and home prices continued to trend down in January, according to figures released this morning. (Mon, 25 Feb 2008 16:00:55 GMT)

Economic Opportunity Mortgage Gives Lower-Income Borrowers Terms That Make Home Ownership Affordable
SAN FRANCISCO----Borrowers with limited resources and little or no established credit have been able to buy homes without facing the risks of a subprime mortgage through the Economic Opportunity Mortgage program at Union Bank of California. (Mon, 25 Feb 2008 17:00:00 GMT)

Fitch Announces Various Rating Actions on Mortgage Insurers
Fitch Ratings today announced a number of negative rating actions on the mortgage insurance (MI) sector (see full list below). The actions are mainly driven by continued weakness in the U.S. mortgage markets, highlighted by marked deterioration in performance for mortgages backed by subprime and reduced or limited documentation (Alt-A) borrowers. (Mon, 25 Feb 2008 17:08:58 GMT)

Fitch Mulls Mortgage Insurance Downgrade
Fitch Ratings is considering slashing its rating on some of the biggest mortgage insurers in the country, saying Monday a spike in unpaid home loans is triggering more claims. (Mon, 25 Feb 2008 17:38:51 GMT)

Congress To Grill Mortgage Executives
Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market. In addition, lawmakers plan to question several high-profile mortgage and banking executives about industry-wide losses and lavish executive-compensation packages. (Mon, 25 Feb 2008 18:11:58 GMT)

Congress To Grill Mortgage Executives
Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market. In addition, lawmakers plan to question several high-profile mortgage and banking executives about industry-wide losses and lavish executive-compensation packages. (Mon, 25 Feb 2008 18:12:02 GMT)

Mortgage Rates Rise, Defying Expectations
With the economy slowing and the Federal Reserve Board cutting interest rates, mortgage rates were expected to come down a bit. That's not what's happened, though. Mortgage rates on 30-year fixed-rate loans have actually gone up over the last week. (Mon, 25 Feb 2008 19:34:19 GMT)

Vestin Realty Mortgage II Sets Dividend
Vestin Realty Mortgage II Inc. said Friday its board declared a regular monthly dividend of 10.6 cents per share. The real estate investment trust said the dividend is payable March 28 to shareholders of record March 7. (Mon, 25 Feb 2008 19:50:20 GMT)

Saxon Mortgage lays off 140 locally
Saxon Mortgage Services Inc. is set to decrease its Tampa presence by 140 people as early as Thursday as its parent company continues to scale back its residential mortgage business. (MS) (Mon, 25 Feb 2008 20:08:28 GMT)

Investors Optimistic About Home Sales
Even though existing home sales continued to slip the market seemed to like what it saw. (Mon, 25 Feb 2008 20:11:41 GMT)

Saxon Mortgage Laying Off 140 In Bay Area
TAMPA -- Saxon Mortgage is laying off 140 workers in the Tampa Bay area, according to documents the company filed today under the state's Worker Adjustment and Retraining Notification Act. (Mon, 25 Feb 2008 20:38:59 GMT)

American Home Settles With Indymac
American Home Mortgage Investment Corp. says Indymac Bancorp Inc. has agreed to complete by March 3 a deal to take over 83 loan offices idled by American Home's collapse into bankruptcy last year. (Mon, 25 Feb 2008 21:35:39 GMT)

Is your adjustable rate mortgage about to adjust?
Is your adjustable rate mortgage about to adjust? We want to hear what your plans are for coping with this event. Contact Ben Werner business reporter at The State at (803) 771- 8509 or by e-mail at bwerner@thestate.com . Please leave a day time phone number. (Mon, 25 Feb 2008 21:52:50 GMT)

Man awarded Ninth Ward home slated to be sentenced for loan fraud
Robert Green lost his home, two family members and the neighborhood he loved to Hurricane Katrina and has been one of only a handful of people to return to the Lower 9th Ward since the storm. (Mon, 25 Feb 2008 22:21:56 GMT)

Mortgage fraud nets man 8 years in prison
TAMPA -- The point person for a multimillion-dollar mortgage and construction fraud scheme was sentenced Friday to eight years in prison. Bradford C. Peck, 31, pleaded guilty to multiple counts of racketeering and conspiracy to commit racketeering. A former Hillsborough... (Mon, 25 Feb 2008 22:25:14 GMT)

Surprise! Home Sales Spark Hope
Even though existing home sales continued to slip the market seemed to like what it saw. (Mon, 25 Feb 2008 23:02:52 GMT)

Governors Discuss Mortgage Crisis
WASHINGTON--Governor Eliot Spitzer met with Governors from across the country in Washington to build a plan to protect homeowners from the ongoing mortgage crisis. (Mon, 25 Feb 2008 23:07:42 GMT)

Amid Mortgage Mess, Auto Loans Also Lag
Like a burgeoning traffic jam, the nation's subprime mortgage fiasco is spilling over into many arteries of consumer life. (Mon, 25 Feb 2008 23:54:06 GMT)

Schwarzenegger presses federal government on mortgage assistance, infrastructure
WASHINGTON - Concluding a busy, two-day trip, Gov. Arnold Schwarzenegger said Monday he lobbied federal officials for mortgage relief for California homeowners, the continuation of a border security program and more money for roads and levees, "even though that's not a very sexy issue. (Tue, 26 Feb 2008 00:00:18 GMT)

Fresh home loan approvals sink close to decade-low
The number of fresh mortgages approved for house purchase by the big UK banks remained close to a decade-low in January, industry figures revealed yesterday, reinforcing economists' forecasts of significant falls in house prices this year. (Tue, 26 Feb 2008 00:09:10 GMT)

Remortgages fuel small jump in home loan figures for January
Some good news for the housing market emerged yesterday, as the British Bankers' Association reported "exceptionally strong" demand for funds to remortgage property. That would suggest that the credit crunch may not be affecting those refixing their mortgages quite yet, contrary to some of the more gloomy predictions about their plight. (Tue, 26 Feb 2008 01:34:46 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? (Tue, 26 Feb 2008 02:51:08 GMT)

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? (Tue, 26 Feb 2008 04:06:02 GMT)

New bill addresses growing trend of mortgage foreclosures
Governor Kaine has sent a bill to the legislature to address the growing trend of mortgage foreclosures. Southwest Virginia Senator Phil Puckett is carrying the bill. (Tue, 26 Feb 2008 05:06:00 GMT)

Subprime loans by big banks and small brokers set up home mortgage meltdown
Large lenders, small brokers fed home loan frenzy Some of the largest subprime lenders in the United States found fertile ground in South Florida . (Tue, 26 Feb 2008 05:09:33 GMT)

Saxon To Cut 140 Mortgage Employees
Saxon Mortgage is laying off 140 workers in the Tampa Bay area, according to documents the company filed Monday under the state's Worker Adjustment and Retraining Notification Act. (Tue, 26 Feb 2008 05:19:39 GMT)

Stimulus plan can help with jumbo mortgages
Daniel H. Mudd, chief executive of Fannie Mae, knows the feeling when a physician attends a party and a guest wants a diagnosis for a rash or some other unexplained ailment. In Mudd’s case, people want to know about the housing market. Often they ask him if it’s a good time to refinance their mortgage loan. (Tue, 26 Feb 2008 06:12:23 GMT)

NJ Mortgage and Refinance Company Achieves Double Digit Growth in Challenging 2007 Market
NJ mortgage and refinance company helps first-time home buyers and experienced home owners improve their financial situation with competitive rates, fast approvals and closings, adjustable rate loans, reverse mortgages, and many other flexible loan products to meet buyers' individual needs. (Tue, 26 Feb 2008 07:01:00 GMT)

Utah County home sales
Unsold new-house inventories skyrocket 256 percent Grace Leong Existing home sales in Utah County plunged in January as the ongoing subprime lending crisis and tighter home loan standards priced many marginal buyers out of the market, exacerbating what is already the slowest month of the year. (Tue, 26 Feb 2008 07:20:02 GMT)

Refinancing sought for stadium's bonds
Facing a run-up in interest rates on bonds sold to pay for Lucas Oil Stadium, the state is looking to refinance. (Tue, 26 Feb 2008 07:52:44 GMT)

Subprime loans by big banks and small brokers set up home mortgage meltdown
Large lenders, small brokers fed home loan frenzy Some of the largest subprime lenders in the United States found fertile ground in South Florida. (Tue, 26 Feb 2008 08:05:27 GMT)

NJ Mortgage and Refinance Company Achieves Double Digit Growth in Challenging 2007 Market
NJ mortgage and refinance company helps first-time home buyers and experienced home owners improve their financial situation with competitive rates, fast approvals and closings, adjustable rate loans, reverse mortgages, and many other flexible loan products to meet buyers' individual needs. (PRWeb Feb 26, 2008) Read the full story at http://www.prweb.com/releases/2008/02/prweb722264.htm (Tue, 26 Feb 2008 08:24:46 GMT)

AG Suthers goes to court over mortgage ads
Colorado Attorney General John Suthers has targeted alleged false advertising and other deceptive mortgage-industry practices in a complaint filed in Denver District Court. (Tue, 26 Feb 2008 08:33:06 GMT)

BWC launches mortgage partnership
BWC Mortgage Services, moving to combat a rough housing market, announced an alliance late last week with several mortgage companies to create a new lending entity that can originate more than $2 billion a year in home loans. (Tue, 26 Feb 2008 11:27:14 GMT)

Hodes to spearhead mortgage crisis: Roundtable talks included bankers, mortgage lenders
CONCORD -- Paul Hodes' goal of finding a clear solution to the home mortgage crisis proved elusive Monday. ... - By KEVIN LANDRIGAN Telegraph Staff (Tue, 26 Feb 2008 11:40:02 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? (Tue, 26 Feb 2008 11:55:25 GMT)

Bill addresses growing trend of mortgage foreclosures
Governor Tim Kaine has sent a bill to the legislature to address the growing trend of mortgage foreclosures. Southwest Virginia Senator Phil Puckett is carrying the bill. (Tue, 26 Feb 2008 12:34:33 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, 26 Feb 2008 12:55:08 GMT)

HSH Sues UBS Over Mortgage Losses
Germany's HSH Nordbank said Tuesday it is suing Swiss bank UBS for $275 million in damages over losses stemming from mortgage securities gone bad. (Tue, 26 Feb 2008 13:11:19 GMT)

Mortgage deal would require independent appraisals: report
New York Attorney General Andrew Cuomo is working on a deal with mortgage giants Fannie Mae and Freddie Mac that would call for their lending partners to have independent home appraisals, according to published reports Tuesday. (Tue, 26 Feb 2008 13:58:28 GMT)

Is a financial planner trying to swindle my mom?
Question: My 63-year-old mother earns about $1,200 a month, has $90,000 in savings and, as a result of a recent refinancing, has a $90,000 30-year mortgage. In three years she will begin collecting an estimated $1,300 a month from Social Security. (Tue, 26 Feb 2008 15:25:00 GMT)

Refinance or Abandon
In spite of mortgage rates hovering around a 5-year low, thousands of troubled homeowners believe their only choice is to flee their home and face foreclosure. But with such inviting interest rates why are homeowners electing to surrender their property instead of simply refinancing? (Tue, 26 Feb 2008 15:47:00 GMT)

Is a financial planner trying to swindle my mom?
Question: My 63-year-old mother earns about $1,200 a month, has $90,000 in savings and, as a result of a recent refinancing, has a $90,000 30-year mortgage. In three years she will begin collecting an estimated $1,300 a month from Social Security. A financial adviser suggests she put $60,000 into a variable annuity that is guaranteed to double in value in 10 years. Is this a good idea? --David, ... (Tue, 26 Feb 2008 15:54:05 GMT)

The magic number for getting a loan
From mortgages to refinancing and home equity lines of credit -- it's getting harder for people to qualify for a loan. And that makes your credit score even more vital. (Tue, 26 Feb 2008 16:15:57 GMT)

Subprime Woes Hit N.D. Home Buyers
Problems in the subprime mortgage industry are being felt in North Dakota's first-time home-buyer program and could affect other housing programs as well, officials say. (Tue, 26 Feb 2008 16:42:07 GMT)

Fitch Rates PECO Energy Co. First Mortgage Bonds 'A'
Fitch Ratings has assigned a rating of 'A' to the $500 million, 5.35% first and refunding mortgage bonds issued by PECO Energy Co. (PECO). The bonds mature March 1, 2018. The Rating Outlook is Stable. Net proceeds will be used to refinance commercial paper and for other general corporate purposes. (Tue, 26 Feb 2008 16:53:05 GMT)

Ex-IndyMac exec plans KC-area mortgage branches
Steve Landes bought an undisclosed minority interest in Indiana-based Stonegate Mortgage Corp. and plans to open branch offices in the Kansas City area. (Tue, 26 Feb 2008 17:24:16 GMT)

Sector Snap: Mortgage Lenders
Shares of mortgage lenders were mixed Tuesday after an index showed home prices sank drastically in the fourth quarter. The Standard & Poor's/Case-Shiller Indices showed home prices declined 8.9 percent in the fourth quarter, the biggest decline in the index's 20-year history. (Tue, 26 Feb 2008 18:26:33 GMT)

HSH Sues UBS Over Mortgage Losses
Germany's HSH Nordbank said Tuesday it is suing Swiss bank UBS for $275 million in damages over losses stemming from mortgage securities gone bad. (Tue, 26 Feb 2008 18:28:43 GMT)

Pair face 14 counts in mortgage-fraud case
After two indictments yesterday, Delaware County authorities said more people could be charged as part of a multimillion dollar mortgage-fraud ring. Gihan “Gigi” Zalat, 40, and Scott S. McCann, 45, both of Columbus, were charged in identical 14-count indictments yesterday. (Tue, 26 Feb 2008 18:48:44 GMT)

Pair face 14 counts in mortgage-fraud case
After two indictments yesterday, Delaware County authorities said more people could be charged as part of a multimillion dollar mortgage-fraud ring. (Tue, 26 Feb 2008 18:49:44 GMT)

Statement by the Press Secretary
WASHINGTON----As the housing market continues to transition, President Bush is helping responsible homeowners across America through a series of targeted actions. This past fall, he announced the creation of FHASecure - a program which gives HUD's Federal Housing Administration greater flexibility to help Americans by offering more home mortgage financing and refinancing options. (Tue, 26 Feb 2008 19:16:00 GMT)

Democrats say state needs to help homeowners facing foreclosure
Douglas and Kathleen Bastian are desperate to save their Hamden home, but say they've had no luck in refinancing their adjustable rate mortgage, currently set at an unaffordable 14 percent. (Tue, 26 Feb 2008 19:30:48 GMT)

Legislators Focus Attention On Mortgage Issues
Democratic legislators say the state needs to do more to help thousands of mortgage-holders facing serious delinquency and others whose adjustable rates are poised to climb. (Tue, 26 Feb 2008 20:36:14 GMT)

Statement by the Press Secretary
As the housing market continues to transition, President Bush is helping responsible homeowners across America through a series of targeted actions. This past fall, he announced the creation of FHASecure - a program which gives HUD's Federal Housing Administration (FHA) greater flexibility to help Americans by offering more home mortgage financing and refinancing options. Today, the President ... (Tue, 26 Feb 2008 20:42:22 GMT)

Loan Summit Softens Md. Lawmakers' Tones
Maryland officials -- who last week said out-of-state mortgage loan companies could have their licenses yanked if they didn't improve customer service -- softened their rhetoric considerably Tuesday after meeting with seven of the companies behind closed doors. (Tue, 26 Feb 2008 21:34:11 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, 26 Feb 2008 22:55:05 GMT)

Loan Summit Ends With Promises To Meet Again, Little Else
Maryland officials who took a hard-line approach on out-of-state mortgage loan companies last week soften their rhetoric considerably after meeting with seven of the companies behind closed doors. (Tue, 26 Feb 2008 22:59:27 GMT)

Uganda: Holes in Land Bill Will Kill Mortgage Finance
The bill's principal objective is "to consolidate the law relating to mortgages, to repeal the Mortgage Act Cap 229 and also certain provisions relating to Mortgages in the Registrar of Articles Act, Cap 230. (Tue, 26 Feb 2008 23:20:10 GMT)

Vestin Realty Mortgage II, Inc. Announces the Postponement of a Possible Merger with Vestin Realty Mortgage I, Inc.
Vestin Realty Mortgage II, Inc. (Nasdaq:VRTB) a real estate investment trust (the "Company") (Tue, 26 Feb 2008 23:42:49 GMT)

Attorney General Cracks Down On Mortgage Fraud
The Colorado Attorney General's Office is cracking down on mortgage fraud. The target: ads from mortgage brokers. The ads have been appearing in newspapers. The attorney general's office is investigating 13 companies. (Wed, 27 Feb 2008 02:18:27 GMT)

Decision on waiver of farmers loan soon: Patil
Sangli, Maharashtra, Feb 25: Maharashtra Deputy Chief Minister R R Patil today said the centre's decision to waive off farmers loan is expected soon. (Wed, 27 Feb 2008 02:21:45 GMT)

Bush Vows to Veto a Mortgage Relief Bill
President Bush sided with banks and mortgage lenders on Tuesday, threatening to veto a bill being offered by Senate Democrats. (Wed, 27 Feb 2008 05:59:26 GMT)

Kane County fights mortgage schemes
The increasingly common crime of mortgage fraud and related schemes have prompted Kane County officials to step up communication with homeowners. (Wed, 27 Feb 2008 06:35:25 GMT)

Availed of home loan? Take care of property papers
Want a home loan for your dream house? Chances are that banks may misplace your house documents, leaving you high and dry. (Wed, 27 Feb 2008 07:24:23 GMT)

Availed of home loan? Take care of property papers
New Delhi, Feb 27 : Want a home loan for your dream house? Chances are that banks may misplace your house documents, leaving you high and dry. (Wed, 27 Feb 2008 07:51:48 GMT)

Home-loan problems worsen
The number of homes facing foreclosure jumped 57 percent in January compared with a year ago, with lenders increasingly forced to take possession of homes they couldn't unload at auctions, a mortgage research firm said Monday. (Wed, 27 Feb 2008 08:06:26 GMT)

Derivates shell-game leaves mortgages "orphaned" -- stop paying your mortgage, keep your house
Worried about your mortgage? How about just not paying it? Some banks were so enthusiastic in playing subprime derivatives shell-games that they've literally lost the notes on the mortgages they "own," and can't prove that deadbeat homeowners owe them any money. (Wed, 27 Feb 2008 08:21:17 GMT)

HBOS hit as mortgage margins fall
LONDON (Reuters) - The biggest mortgage lender, HBOS Plc, posted a 3 percent rise in annual profit, just short of analysts' expectations, as margins in its core retail business were hit, sending its shares lower. (Wed, 27 Feb 2008 09:21:04 GMT)

HBOS hit as mortgage margins fall
The biggest mortgage lender, HBOS, posted a 3 percent rise in annual profit, just short of analysts' expectations, as margins in its core retail business were hit, sending its shares lower. (Wed, 27 Feb 2008 09:26:00 GMT)

HBOS hit as mortgage margins fall
Britain's biggest mortgage lender, HBOS Plc, posted a 3 percent rise in annual profit, just short of analysts' expectations, as margins in its core retail business were hit, sending its shares lower. (Wed, 27 Feb 2008 09:42:20 GMT)

HBOS hit as mortgage margins fall
LONDON (Reuters) - Britain's biggest mortgage lender, HBOS Plc, posted a 3 percent rise in annual profit, just short of analysts' expectations, as margins in its core retail business were hit, sending its shares lower. (Wed, 27 Feb 2008 10:08:35 GMT)

Bill to focus on easing penalty for paying off mortgages early
Penalties for paying off a mortgage early -- a difficulty for many borrowers trying to refinance high-interest loans -- would be reduced under a bill in the General Assembly. (Wed, 27 Feb 2008 11:02:14 GMT)

Ahead of the Bell: Mortgage Applications
Home-loan data to be released Wednesday will show whether mortgage applications declined for the third-straight week as interest rates rose. (Wed, 27 Feb 2008 11:14:39 GMT)

HBOS hit by mortgage margin fall
LONDON (Reuters) - HBOS , the biggest mortgage lender, said higher funding costs hit its margins last year and both financial and housing markets were set to stay tough, eclipsing a slim rise in profits and hammering its stock. (Wed, 27 Feb 2008 11:51:12 GMT)

Week-to-week refinancing applications down 30.4%: MBA
CHICAGO (MarketWatch) -- Mortgage applications filed last week dropped a seasonally adjusted 19.2% compared with the previous week, reflecting a plunge in homeowners pursuing refinancings, the Mortgage Bankers Association reported on Wednesday. (Wed, 27 Feb 2008 12:13:19 GMT)

Mortgage Application Volume Tumbles
Mortgage application volume tumbled 19.2 percent during the week ending Feb. 22, according to the Mortgage Bankers Association's weekly application survey. (Wed, 27 Feb 2008 12:18:38 GMT)

If mortgage hinges on a half-point, you're cutting it too close
| Daniel H. Mudd, chief executive of Fannie Mae , knows the feeling when a physician attends a party and a guest wants a diagnosis for a rash or some other unexplained ailment. (Wed, 27 Feb 2008 12:44:01 GMT)

Mortgage applications slide again
For the third week in a row, home finance applications fall as interest rates rise steadily. (Wed, 27 Feb 2008 13:09:05 GMT)

U.S. mortgage applications show lowest numbers this year
Applications for home mortgages sank to their lowest level this year, as rising long-term interest rates restrained inducements to refinance, an industry group's data showed on Wednesday. (Wed, 27 Feb 2008 13:42:47 GMT)

Fannie Mae posts $3.6 billion loss as loan delinquencies piled up
Fannie Mae on Wednesday said it lost nearly $3.6 billion in the fourth quarter of 2007 as home-loan delinquencies mounted. The company said it expects additional losses this year as the housing slump continues. (Wed, 27 Feb 2008 14:27:34 GMT)

Fannie Mae posts 4Q loss of US$3.6B as loan delinquencies mounted
WASHINGTON - Fannie Mae says it lost US$3.6 billion in the fourth quarter as home-loan delinquencies mounted. It also expects more losses this year. (Wed, 27 Feb 2008 14:35:00 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? (Wed, 27 Feb 2008 14:51:01 GMT)

Fannie Mae posts 4Q loss of US$3.6B as loan delinquencies mounted
WASHINGTON - Fannie Mae says it lost US$3.6 billion in the fourth quarter as home-loan delinquencies mounted. It also expects more losses this year. Fannie Mae is the largest U.S. buyer and backer of home loans. (Wed, 27 Feb 2008 15:46:47 GMT)

Conn. Families Struggling to Save Homes
Douglas and Kathleen Bastian are desperate to save their Hamden home, but say they've had no luck in refinancing their adjustable rate mortgage, currently set at an unaffordable 14 percent. (Wed, 27 Feb 2008 16:12:39 GMT)

Fannie, Freddie get mortgage relief
Fannie Mae and Freddie Mac shares soared as much as 16 percent Wednesday after the government-sponsored lenders' regulator removed limits on the growth of the companies' mortgage portfolios. (Wed, 27 Feb 2008 16:39:55 GMT)

Treasurys fall on mortgage relief hopes
Treasury prices fell Wednesday after regulators said they will lift limits on the investment portfolios for mortgage companies Fannie Mae and Freddie Mac, a move expected to bring new capital into the ailing housing market. (Wed, 27 Feb 2008 16:48:39 GMT)

Mortgage applications fall 19.2% as rates creep higher
WASHINGTON – The number of mortgage applications nationwide dropped last week, as interest rates continued to rise, the Mortgage Bankers Association reported today. (Wed, 27 Feb 2008 16:54:47 GMT)

Treasurys Fall on Mortgage Relief Hopes
Treasury prices fell Wednesday after regulators said they will lift limits on the investment portfolios for mortgage companies Fannie Mae and Freddie Mac, a move expected to bring new capital into the ailing housing market. The higher investment caps... (Wed, 27 Feb 2008 17:21:37 GMT)

Wall St lifted by mortgage support news
US stocks reversed course on Wednesday, shrugging off earlier losses after the regulator of government-chartered mortgage lenders announced plans that could support the ailing housing market. (Wed, 27 Feb 2008 18:00:16 GMT)

Fannie Mae posts $3.6 billion loss as loan delinquencies mounted
WASHINGTON -- Fannie Mae today said it lost nearly $3.6 billion in the fourth quarter of 2007 as home-loan delinquencies mounted. ... (Wed, 27 Feb 2008 18:22:23 GMT)

Wall St gains as government loosens home loan reins
Stocks gained on Wednesday on news that the government will let the two biggest U.S. home loan finance companies invest more money in the weak housing market in a move that could help revive the economy. (Wed, 27 Feb 2008 18:46:30 GMT)

Fannie Mae posts 4Q loss of $3.6 billion as loan delinquencies mounted
WASHINGTON (AP) – Fannie Mae says it lost $3.6 billion in the fourth quarter as home-loan delinquencies mounted. It also expects more losses this year. (Wed, 27 Feb 2008 19:04:50 GMT)

Mortgage interest rates go up again
Global credit market turmoil is tightening the squeeze on New Zealand households, with the country's largest bank, ANZ National, raising key mortgage interest rates once again in response to "severe" market conditions. (Wed, 27 Feb 2008 19:28:02 GMT)

S&P: Mortgage Bond Credit Worsens
The delinquency rate for a wide range of home loans that provide the payments for mortgage bonds has spiked in the past year, Standard & Poor's said Wednesday. (Wed, 27 Feb 2008 19:43:39 GMT)

City to reinstate mobile home repair loan plan
The Moorpark City Council unanimously voted Wednesday to reinstate a loan program that funds repairs on mobile homes in the city. (Wed, 27 Feb 2008 20:08:02 GMT)

Bush Vows to Veto a Mortgage Relief Bill
President Bush sided with banks and mortgage lenders on Tuesday, threatening to veto a bill being offered by Senate Democrats. (Wed, 27 Feb 2008 20:39:54 GMT)

Mortgage Rates Are Likely To Stay Stubbornly High
Regulators eased investment caps on Fannie Mae and Freddie Mac, but most experts say it won't push mortgage rates lower anytime soon. (Wed, 27 Feb 2008 21:39:20 GMT)

Fannie Mae Introduces HomeSaver Advance(TM) Mortgage Workout Option Designed to Help Delinquent Borrowers
Fannie Mae announced today that, as part of its HomeStay initiative to support its mortgage servicers as they provide at-risk borrowers with refinancing and loan workout assistance, it is offering a new option -- HomeSaver Advance. (Wed, 27 Feb 2008 21:58:00 GMT)

US regulator to deepen pockets of two mortgage finance firms
A US regulator on Wednesday said it would lift mortgage portfolio limits on two government-backed companies, raising the prospects of increased capital for the distressed housing market. (Wed, 27 Feb 2008 22:42:48 GMT)

Home affordability crisis 'to worsen'
There has been a renewed warning that home loan affordability is set to get worse this year. (Thu, 28 Feb 2008 00:50:00 GMT)

Japan Post Bank to Raise Holdings of Corporate, Mortgage Debt
Feb. 28 (Bloomberg) -- Japan Post Bank Co., the world's biggest-lender by assets, said it plans to increase investments in corporate bonds, mortgage-backed securities and syndicated loans from the fiscal year starting on April 1. (Thu, 28 Feb 2008 00:56:06 GMT)

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