Mortgage News Nov 2008

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Bendigo Bank reduces fixed home loan rates
Bendigo and Adelaide Bank has announced a reduction in fixed interest home loan rates by up to 0.20%. (Sat, 01 Nov 2008 01:36:40 GMT)

Banks Alter Loan Terms to Head Off Foreclosures
JPMorgan Chase became the latest big bank to pledge to cut monthly payments, by lowering interest rates and temporarily reducing loan balances. (Sat, 01 Nov 2008 01:49:27 GMT)

JPMorgan expanding mortgage-modification program
JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure. JPMorgan's expanded program aims to help avoid foreclosures on an estimated $70 billion in loans, which could help as many as 400,000 customers. The New York-based banking giant has already modified about $40 ... (Sat, 01 Nov 2008 02:51:57 GMT)

Mortgage crisis enters fault phase
n Task force prepares to bust home buyers, brokers who lied on mortgage applications (Sat, 01 Nov 2008 03:02:09 GMT)

Mortgage crisis enters fault phase
n Task force prepares to bust home buyers, brokers who lied on mortgage applications (Sat, 01 Nov 2008 03:07:55 GMT)

JPMorgan expands mortgage controls
JPMorgan Chase & Co. is the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure. (Sat, 01 Nov 2008 05:39:58 GMT)

Mortgage borrowers warned of more woe
A new report shows that nearly one in five mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens. (Sat, 01 Nov 2008 06:51:28 GMT)

Are mortgage-backed securities still being issued?
A: Federal Reserve Chairman Ben Bernanke said private companies have basically stopped bundling mortgages into securities. Only Fannie Mae, Freddie Mac and Ginnie Mae -- all run by the U.S. government -- are doing it. Private companies accounted for half of the market for mortgage-backed securities in 2005 at the height of the housing boom. (Sat, 01 Nov 2008 08:38:02 GMT)

Home equity is gone for many mortgage holders
Almost 8 percent of Washington homeowners owe more on their mortgages than their home is worth, and another 11 percent are close to being in that position, a new report shows. It also reveals that almost a quarter of all U.S. mortgage holders are in danger of having no home equity — because they bought recently with little or no money down, or because refinanced to take out equity or because ... (Sat, 01 Nov 2008 09:20:03 GMT)

Capitas Group Mortgage Market analysis well received across Gulf region
Capitas Group's LLC recently released analysis of the Mortgage Market in the GCC region has been widely carried and well received by finance practitioners and by prominent print and online media in the region. (Sat, 01 Nov 2008 10:12:18 GMT)

Nev., Mich., Fla. Lead Mortgage 'Underwater' List
Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages. (Sat, 01 Nov 2008 14:52:24 GMT)

Nev., Mich., Fla. Lead Mortgage 'Underwater' List
Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages. (Sat, 01 Nov 2008 14:52:24 GMT)

Nev., Mich., Fla. Lead Mortgage 'Underwater' List
Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages. (Sat, 01 Nov 2008 14:52:24 GMT)

Nev., Mich., Fla. Lead Mortgage 'Underwater' List
Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages. (Sat, 01 Nov 2008 14:52:24 GMT)

Nev., Mich., Fla. Lead Mortgage 'Underwater' List
Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages. (Sat, 01 Nov 2008 14:52:24 GMT)

Nev., Mich., Fla. Lead Mortgage 'Underwater' List
Almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages. (Sat, 01 Nov 2008 14:52:24 GMT)

Mortgaging Off: The Present
Bernanke warns that U.S. home-loan system isn't working. (Sat, 01 Nov 2008 16:16:48 GMT)

Banks Alter Loan Terms to Head Off Foreclosures
JPMorgan Chase became the latest big bank to pledge to cut monthly payments, by lowering interest rates and temporarily reducing loan balances. (Sat, 01 Nov 2008 16:26:14 GMT)

Fighting Fear With Information
The mortgage world has suddenly become very frightening to many people who have no real reason to be frightened. (Sat, 01 Nov 2008 17:14:36 GMT)

Figuring Out Who Owns a Mortgage
NEW YORK -- When you write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. (Sat, 01 Nov 2008 17:14:46 GMT)

Keep Refinancing in the Family
Q: I am looking into refinancing my adjustable-rate mortgage to a fixed rate. During this process, my mother told me that she would lend me the $150,000 to pay off my existing loan and that I could pay her back at the current market rate for a 30-year fixed mortgage. This would provide her a stable investment and I could forego the closing costs, paperwork, appraisal, etc., associated with ... (Sat, 01 Nov 2008 17:14:56 GMT)

JPMorgan expanding mortgage-modification program
NEW YORK -- JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure. (Sat, 01 Nov 2008 19:46:52 GMT)

Mortgage holders warned over fixing rates
Mortgage brokers are recommending householders ignore banks' attempts to woo them on to two-year, fixed-rate mortgages, and instead take a punt bank rates will fall further. (Sat, 01 Nov 2008 19:48:27 GMT)

Calif. congresswoman: I'm up-to-date on home loans
A California congresswoman whose house temporarily went into foreclosure has paid up the delinquent home loans, she said Friday. (Sat, 01 Nov 2008 20:17:41 GMT)

Cheaper home loan hope in RBI rate cut
Mumbai, Nov. 1: Interest rates on loans for housing, cars and a range of household goods seemed all set to go down after the Reserve Bank of India today trimmed a key short-term lending rate — the repo — by half a percentage point to 7.5 per cent. (Sat, 01 Nov 2008 22:08:19 GMT)

Support for distressed mortgage borrowers
Finance Minister Michael Cullen has exchanged letters with each of the country's largest mortgage lending banks which outline the approach that banks will take into account when handling mortgage customers facing servicing problems in the challenging economic times ahead. (Sun, 02 Nov 2008 00:16:39 GMT)

Future Fund 'cannot bail out' mortgage funds
FUTURE Fund chairman David Murray says it is not the role of the $63 billion fund to bail out troubled mortgage-based investment funds. (Sun, 02 Nov 2008 02:35:00 GMT)

Future Fund 'cannot bail out' mortgage funds
FUTURE Fund chairman David Murray says it is not the role of the $63 billion fund to bail out troubled mortgage-based investment funds. (Sun, 02 Nov 2008 02:35:00 GMT)

Future Fund 'cannot bail out' mortgage funds
FUTURE Fund chairman David Murray says it is not the role of the $63 billion fund to bail out troubled mortgage-based investment funds. (Sun, 02 Nov 2008 02:35:00 GMT)

Future Fund "can't save mortgage funds"
Future Fund chairman David Murray says it is not the role of the $63 billion fund to bail out troubled mortgage-based investment funds. Some mortgage-based investment funds have had to be frozen after they experienced an exodus of funds, following the federal government's guarantee of bank deposits. (Sun, 02 Nov 2008 02:42:14 GMT)

Future Fund 'can't bail out mortgage funds'
Future Fund chairman David Murray says it is not the role of the $63 billion fund to bail out troubled mortgage-based investment funds. (Sun, 02 Nov 2008 06:01:01 GMT)

City may loan funds for Scooter and ATV shop
A scooter and ATV distribution center will be one step closer to calling Nacogdoches home if city commissioners approve a loan to the business at their regular meeting Tuesday night. (Sun, 02 Nov 2008 06:37:12 GMT)

Rules have changed for locking in loan rates
Loan rates have been swinging as widely as the stock market. After the longer process of loan approval, when do you lock the loan rate? Will your 6.5 percent fixed-rate loan go up if you don't lock it today or should you gamble on the hope of a possible tick downward? (Sun, 02 Nov 2008 08:23:47 GMT)

Homeowners may have to sit tight
Q: My wife and I bought our house at the top of the market in 2004. With the plan to stay in Florida for three years, a 5/1 adjustable-rate mortgage, (80/20) with a home equity line of credit was the perfect choice, since we weren't planning on staying long, and didn't have the down payment. (Sun, 02 Nov 2008 08:40:54 GMT)

New law helps veterans secure guaranteed loans
BULLHEAD CITY - Veterans with conventional home loans now have new options for refinancing to a Department of Veterans Affairs guaranteed home loan. (Sun, 02 Nov 2008 10:30:05 GMT)

JPMorgan will expand mortgage modifications
NEW YORK -- JPMorgan Chase & Co. is the latest major bank to beef up its mortgage-modification efforts as the government also considers a plan to help homeowners avoid foreclosure. (Sun, 02 Nov 2008 10:58:22 GMT)

30-year mortgage rates shoot to 6.46%
WASHINGTON – Rates on 30-year mortgages spiked last week as the tumult in financial markets continued to be felt in housing finance. (Sun, 02 Nov 2008 11:17:48 GMT)

Banks still chasing families for mortgage debts after repossession
Desperate families are being chased for mortgage debts even years after their homes have been repossessed. (Sun, 02 Nov 2008 11:24:21 GMT)

Obama calls McCain mortgage plan ill-advised
DAYTON, Ohio — Democrat Barack Obama told a campaign audience Thursday that Republican John McCain’s mortgage buyout plan would cost taxpayers billions of dollars and reward bad behavior by lenders. (Sun, 02 Nov 2008 11:40:46 GMT)

Newberry names new chair to mortgage commission
Lexington Mayor Jim Newberry named a new person Friday to chair his Commission on Mortgage Lending Practices, which will examine concerns that the city's black borrowers are steered to higher-cost loans. The new chairwoman will be Judy "J.J." Jackson, the University of Kentucky's vice president of institutional diversity. The original chairman, DeAndre McGinnis Mitchell, resigned last ... (Sun, 02 Nov 2008 12:18:17 GMT)

30-year mortgage rates rise sharply
WASHINGTON, D.C. (AP) - Rates on 30-year mortgages spiked last week as the tumult in financial markets continued to be felt in housing finance. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.46 percent last week, up from 6.04 percent the previous week. (Sun, 02 Nov 2008 12:37:46 GMT)

How the Macphersons saved their home
A couple faces hard choices after their mortgage payment skyrockets ClaverackThe cozy log home sits among the trees, alongside a creek and the river of traffic that is Route 9H. John Macpherson built this house in 1975. This year, he almost lost it. Like so many other Americans in this time of rising foreclosure rates, Macpherson and his wife, Anne, found themselves with a mortgage they ... (Sun, 02 Nov 2008 16:43:55 GMT)

IDBI Bank to sell home loan arm
Leading lender IDBI Bank has decided to sell its housing loan subsidiary, IDBI Homefinance (IHFL), unlike its earlier plan to merge the unit with itself, and may invite bids from potential buyers soon, a top bank executive has said. (Sun, 02 Nov 2008 18:55:01 GMT)

Modifications lift sagging mortgage industry
With lending tight and mortgage jobs scarce, many brokers and bankers are joining the booming mortgage modification industry. Modifications, which often involve lowering a loan’s interest rate or principal, or extending a loan’s duration, have taken off since the start of the housing meltdown. (Sun, 02 Nov 2008 22:59:11 GMT)

How To Squeeze More Money From Your Home
If you're looking to unload your property and finding few buyers, there are alternatives to dropping the price below what's palatable. (Sun, 02 Nov 2008 23:11:50 GMT)

Mortgage problems have local impact
COLUMBIA COUNTY — Some indicators suggest county homeowners have not been untouched by the national mortgage foreclosure crisis. (Mon, 03 Nov 2008 04:31:19 GMT)

Northeast Florida home builders awaiting piece of big rescue pie
Home builders say they're still waiting for the cavalry. (Mon, 03 Nov 2008 05:39:37 GMT)

USA Mortgage adds staff to handle increased outsourcing from banks
At a time when the financial sector is faced with a mountain of layoffs, Creve Coeur-based USA Mortgage actually has added 42 employees within the past four months and continues to tack on more. (Mon, 03 Nov 2008 06:15:34 GMT)

Homeowners 'underwater' with negative equity in their homes
Here’s a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. (Mon, 03 Nov 2008 07:01:35 GMT)

Lawsuit claims mortgage firm defrauded Florida homeowners
TAMPA — State investigators have filed a civil lawsuit in Hillsborough County alleging a company named United States Mortgage Crisis Center orchestrated a fraudulent scheme involving purported reductions in mortgage payoffs for a fee. (Mon, 03 Nov 2008 08:01:53 GMT)

Well-funded mortgage firms moving in for kill
Seismic changes in the mortgage business have some well-capitalized North Texas operations seizing a chance to expand in that industry. (Mon, 03 Nov 2008 08:09:05 GMT)

Loan underwriter recalls pressure
As a senior mortgage underwriter, Keysha Cooper was proud of her ability to detect fraud and other problems in a loan application. But as a senior mortgage underwriter at Washington Mutual during the late, great mortgage boom, Cooper says she found herself in a vise. (Mon, 03 Nov 2008 08:32:51 GMT)

Home Capital Reports Solid Third Quarter Results: Net Income of $27.9 Million, up 22.3% for the Quarter; Return on ...
Home Capital Group Inc. today announced positive financial results for the third quarter of 2008. Despite continued financial market turmoil, the Company's core business activities including residential and commercial mortgage lending, CMHC-insured Mortgage-Backed Securities, and Visa lending all generated solid earnings growth and returns. (Mon, 03 Nov 2008 11:00:00 GMT)

Don't use plastic to pay down mortgage
Using credit cards to pay down $70,000 on a mortgage would be a big mistake in many ways. (Mon, 03 Nov 2008 11:00:00 GMT)

Mortgage securities brought on chaos
NEW YORK . When you sit at your kitchen table and write your monthly mortgage check, your signature may be the first stop on a journey that takes your money to the other side of the world. Chances are, your bank has resold your mortgage and the Chinese government, a teachers' pension fund in Holland, even one of your own mutual funds could own a slice of it. Thousands of investors could ... (Mon, 03 Nov 2008 11:07:27 GMT)

Five Home-buying Myths
(ARA) - As first-time homebuyers grow curious about the home-buying process, they often turn to friends and family for advice about purchasing a home. While these sources can provide useful tips and information, they also may perpetuate some common home-buying myths. (Mon, 03 Nov 2008 11:27:54 GMT)

A.I.G. Unit to Tap Fed’s Commercial Paper Facility
American International Group ’s aircraft leasing unit has been approved to participate in the Federal Reserve’s commercial paper funding facility, Reuters reported. (Mon, 03 Nov 2008 11:38:15 GMT)

Expert: Steve Bucci
Dear Debt Adviser, I have a mortgage of $213,000 on a home valued at $276,000. My credit score is 713. I'm wondering if I would be better off to max out all my credit cards -- the combined limit total is approximately $70,000 -- and pay down my mortgage? Can you advise? (Mon, 03 Nov 2008 11:52:35 GMT)

Debt Linked to Buyouts Tightens the Economic Vise
The new owners then saddled the companies with the billions of dollars of debt used to buy them. But now, The New York Times’s Andrew Ross Sorkin and Michael J. de la Merced write, many of the loans and bonds sold to finance the deals are about to come due at the worst possible time. (Mon, 03 Nov 2008 12:07:10 GMT)

Spain: government announces mortgage aid
Spain's government has unveiled a plan to help families struggling to make their mortgage payments and reward businesses that hire new workers amid the financial crisis. (Mon, 03 Nov 2008 12:29:48 GMT)

CHECKLIST: Contact lender fast over mortgage problems
If you are behind in your mortgage payments, contact your lender immediately to find out if they can help, said Wanda Hardy, president of Credit Worthy, a financial education organization serving Burlington, Camden, Gloucester and Cumberland Counties. (Mon, 03 Nov 2008 12:40:25 GMT)

Spain: government announces mortgage aid
Spain's government has unveiled a plan to help families struggling to make their mortgage payments and reward businesses that hire new workers amid the financial crisis. Prime Minister Jose Luis Rodriguez Zapatero has announced the plan at a news conference Monday. The measures will allow unemployed workers to postpone part of their mortgage payments, with a limit of 500 euros ($640) a month, ... (Mon, 03 Nov 2008 12:49:50 GMT)

More mortgage rate cuts forecast
More banks and building societies are expected to reduce their mortgage rates this month than did in October if the official cost of borrowing is cut again on Thursday, commentators said. (Mon, 03 Nov 2008 12:57:12 GMT)

Spain: government announces mortgage aid
Associated Press - November 3, 2008 7:43 AM ET MADRID, Spain (AP) - Spain's government has unveiled a plan to help families struggling to make their mortgage payments and reward businesses that... (Mon, 03 Nov 2008 12:58:38 GMT)

Spain: government announces mortgage aid
Spain's government has unveiled a plan to help families struggling to make their mortgage payments and reward businesses that hire new workers amid the financial crisis. Prime Minister Jose Luis Rodriguez Zapatero has announced the plan at a news conference... (Mon, 03 Nov 2008 13:00:39 GMT)

German Bank Seeks $10.5 Billion in Bailout Aid
Commerzbank on Monday became the first commercial lender in Germany to accept government cash, while several other European banks reported poor earnings. (Mon, 03 Nov 2008 13:04:40 GMT)

Spain unveils mortgage relief plan for families
Spain's socialist government will permit about a half-million families to delay some of their mortgage payments for two years in an effort to stimulate Spain's economy. (Mon, 03 Nov 2008 13:53:41 GMT)

Spain: government announces mortgage aid
Spain's government, grappling with soaring unemployment and an economy buffeted by the global credit crunch, announced a plan Monday to help families make mortgage payments and reward businesses that hire. (Mon, 03 Nov 2008 13:59:07 GMT)

Spain Lets Jobless Postpone Half of Mortgage Payments (Update2)
Nov. 3 (Bloomberg) -- Spain will allow unemployed workers to put off paying half their monthly mortgage payments for two years, Prime Minister Jose Luis Rodriguez Zapatero said today, part of a series of measures aimed at softening the impact of a shrinking economy. (Mon, 03 Nov 2008 15:19:19 GMT)

MFA Mortgage swings to $48M profit in 3Q
MFA Mortgage Investments Inc., a real estate investment trust that purchases mortgage securities, said Monday it swung to a profit in the third quarter as the company benefited from lower borrowing costs. (Mon, 03 Nov 2008 15:42:56 GMT)

Hunt leaves Bolton in loan move
Birmingham City sign Bolton Wanderers right-back Nicky Hunt on a one-month loan deal. (Mon, 03 Nov 2008 15:55:37 GMT)

MFA Mortgage Investments swings to 3rd-quarter profit of $48 million as borrowing costs drop
NEW YORK (AP) - MFA Mortgage Investments Inc., a real estate investment trust that purchases mortgage securities, said Monday it swung to a profit in the third quarter as the company benefited from lower borrowing costs. (Mon, 03 Nov 2008 16:08:16 GMT)

Central Bank Buying of U.S. Mortgage Debt to Halve, Report Says
Nov. 3 (Bloomberg) -- Foreign central banks and sovereign investment funds will halve their net purchases of U.S. agency mortgage securities as falling U.S. trade deficits and oil prices cut into reserves, according to Bank of America Corp. (Mon, 03 Nov 2008 18:32:11 GMT)

Capstead Mortgage Corporation Declares November Dividend on Its $1.26 Cumulative Convertible Preferred Stock, Series B ...
The Board of Directors of Capstead Mortgage Corporation (NYSE: CMO) announced today that it will pay (Mon, 03 Nov 2008 19:02:40 GMT)

Fed's latest survey finds tighter loan standards
By MARTIN CRUTSINGER Banks tightened up further on all sorts of lending, from home mortgages to credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy. The Federal Reserve said Monday that its latest quarterly survey of bank lending practices found high numbers of banks reporting tighter credit standards across a broad range of loan ... (Mon, 03 Nov 2008 19:20:22 GMT)

Fed: Banks tighten loan standards
Federal Reserve finds high number of banks enforcing more stringent standards on loans from home mortgages to credit cards. (Mon, 03 Nov 2008 19:24:56 GMT)

Fed's latest survey finds tighter loan standards
WASHINGTON (AP) — Banks tightened up further on all sorts of lending from home mortgages to credit cards and business loans as the worst financial crisis in seven decades took a bigger toll on the economy. The Federal Reserve says its latest quarterly survey of bank lending practices found high numbers of banks reporting tighter credit standards across a broad range of loan products. The Fed ... (Mon, 03 Nov 2008 19:25:28 GMT)

Fed's latest survey finds tighter loan standards
Banks tightened up further on all sorts of lending, from home mortgages to credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy. The Federal Reserve said Monday that its latest quarterly survey of... (Mon, 03 Nov 2008 19:31:17 GMT)

Fed's latest survey finds tighter loan standards
Banks tightened up further on all sorts of lending, from home mortgages to credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy. (Mon, 03 Nov 2008 20:09:53 GMT)

Home loan defaults on the rise
MUMBAI: Defaults on housing loans are said to be on the rise, with individuals facing the brunt of the high interest rate regime. (Mon, 03 Nov 2008 20:12:57 GMT)

Recession rears ugly head, global auto sales shrink
Corporate results and outlooks worsened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies continued to weaken and consumer credit, and available cash, dried up. (Mon, 03 Nov 2008 20:34:21 GMT)

Fitch Affirms Bank of America´s Commercial Mortgage Servicer Ratings
Fitch Ratings affirms Bank of America´s commercial mortgage primary servicer rating of ´CPS1-´, (Mon, 03 Nov 2008 21:00:40 GMT)

Banks tighten up loan standards
Survey of bank lending practices found high numbers of banks reporting tighter credit standards across a broad range of loan products. (Mon, 03 Nov 2008 21:10:14 GMT)

Survey: Banks Tighten Loan Standards
Banks tightened up further on all sorts of lending, from home mortgages to credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy. (Mon, 03 Nov 2008 21:57:08 GMT)

Recession rears ugly head, global auto sales shrink
Corporate results and outlooks darkened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies weakened and consumer credit dried up. (Mon, 03 Nov 2008 22:52:36 GMT)

Home loan defaults on the rise
MUMBAI: Defaults on housing loans are said to be on the rise, with individuals facing the brunt of the high interest rate regime. (Mon, 03 Nov 2008 23:43:31 GMT)

German bank seeks $10.5 billion in bailout aid
Commerzbank on Monday became the first commercial lender in Germany to accept government cash, while several other European banks reported poor earnings. (Mon, 03 Nov 2008 23:56:50 GMT)

Expectations lowered for mortgage aid program
WASHINGTON -- The government expects only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over (Tue, 04 Nov 2008 00:26:26 GMT)

Jeremy Warner: Dividend concession revitalises Lloyds merger with HBOS
After much Downing Street lobbying, Lloyds TSB appears to have secured the right to resume dividend payments next year – that is, provided it manages to find a way of refinancing or otherwise paying off the preference capital it is receiving as part of the Government's banking bailout. (Tue, 04 Nov 2008 01:41:57 GMT)

Spain attempts to stimulate market with mortgage holidays for jobless
Spain became the first European country to introduce a mortgage moratorium for the unemployed yesterday in a move that could put pressure on neighbouring countries to follow suit. (Tue, 04 Nov 2008 01:50:08 GMT)

Fed's latest survey finds tighter loan standards
WASHINGTON -- Banks tightened the spigots further on all sorts of lending, from home mortgages to credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy. (Tue, 04 Nov 2008 02:13:44 GMT)

Government sees fewer getting mortgage relief
The government expects only 20,000 troubled borrowers will apply to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 02:21:53 GMT)

Close to Home: Not feeling so good in Augusta, Ga.
Augusta, Ga.'s slogan is "We Feel Good," based on the 1965 hit record by James Brown, who grew up in the city. Unfortunately the song doesn't fit the housing market, as the economic slump has put a cloud over home sales. (Tue, 04 Nov 2008 03:11:57 GMT)

Small-Business Adviser: Brace yourself for tougher loan scrutiny
Given the tightening credit market, what can I do to increase my chances of getting a business loan? (Tue, 04 Nov 2008 03:27:01 GMT)

Response slow to mortgage swap program
WASHINGTON | The government expects only 20,000 troubled borrowers to apply to refinance into more affordable home loans by next fall under a mortgage aid program approved over the summer. (Tue, 04 Nov 2008 03:27:22 GMT)

Newark man found guilty in mortgage-fraud case
NEWARK, Ohio - A Licking County man has been convicted of conning more than a dozen families out of their homes through mortgage fraud. Harry Blausey, 67, of Newark, was indicted in March after more than 14 people said they signed the deeds of their homes to him as a way to avoid foreclosure. (Tue, 04 Nov 2008 03:37:31 GMT)

CBA reduces variable home loan by 0.58%
Commonwealth Bank of Australia Ltd has reduced its standard variable home loan interest rate by 58 basis points. The move follows the Reserve Bank of Australia's (RBA) decision on Tuesday to cut the cash rate by a larger than expected 75 basis points to 5.25 per cent. (Tue, 04 Nov 2008 04:12:19 GMT)

HOUSING: Expectations lowered for new mortgage aid program
WASHINGTON ---- The government expects that only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 04:28:29 GMT)

Aaround the nation | Mortgage aid program's projections shrink
WASHINGTON Mortgage aid program's projections shrink The government expects only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 05:29:21 GMT)

Few homeowners take refinancing offer
The government expects only 20,000 troubled borrowers will apply to refinance into more affordable home loans by next fall under a mortgage aid program passed by lawmakers in the summer. (Tue, 04 Nov 2008 07:41:00 GMT)

Homeowner bailout gets slow response
The government may get only 20,000 troubled borrowers to refinance into more affordable home loans by next fall under a mortgage-aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 07:49:34 GMT)

Fewer expected to use mortgage aid program
The government expects only 20,000 troubled borrowers will apply to refinance into more affordable mortgages by next fall under a new program passed by lawmakers over the summer. The $300 billion "Hope for Homeowners" program was begun Oct. 1. Designed by... (Tue, 04 Nov 2008 08:32:38 GMT)

Survey finds banks tightening loan standards
Banks tightened the spigots further on all sorts of lending, from home mortgages to credit cards and business loans, as the worst financial crisis in seven decades took a bigger toll on the economy. The Federal Reserve said Monday that its latest quarterly... (Tue, 04 Nov 2008 08:32:58 GMT)

Few homeowners seeking federal refinancing aid
WASHINGTON – The government expects only 20,000 troubled borrowers to apply to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 08:40:50 GMT)

Mortgage aid idea falling short
ASSOCIATED PRESS WASHINGTON — The government expects only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 09:37:01 GMT)

Newark man guilty in mortgage-fraud case
NEWARK, Ohio -- A Licking County man has been convicted of conning more than a dozen families out of their homes through mortgage fraud. (Tue, 04 Nov 2008 11:08:55 GMT)

Abbey raises mortgage rates
One of the largest mortgage lenders in the UK has pre-empted a cut to UK interest rates by raising variable mortgage rates. From Wednesday Abbey will increase its two and three year tracker rates, which mirror the movements of the Bank of England base rate, by up to 0.5 per cent. (Tue, 04 Nov 2008 11:12:26 GMT)

PRESS RELEASE: Fitch Upgrades One Argo Mortgage Tranche To AA
Fitch Ratings-London-04 November 2008: Fitch Ratings has Tuesday upgraded one tranche of the Italian RMBS deal Argo Mortgage 2 S.r.l. (Argo 2) to 'AA' from 'AA-' (AA minus), as detailed below, and affirmed the remaining two tranches in the series. (Tue, 04 Nov 2008 11:18:06 GMT)

Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, We bought a home in California four years ago at $450,000. Our only option at the time was a five-year adjustable-rate mortgage. I would like to refinance to a 30-year fixed-rate mortgage, but am unable to do so because we are now upside down on the loan. (Tue, 04 Nov 2008 11:52:45 GMT)

Despite National Trends, Mortgage Market Stable in Rochester
Rochester, N.Y. -- While a survey from the Federal Reserve said banks are tightening up lending, local mortgage broker Jerry Frate said that trends hasn't really affected the Rochester area. (Tue, 04 Nov 2008 12:04:11 GMT)

SAVE THE DATE: Reverse mortgage seminars scheduled
The South Jersey Federal Credit Union in Deptford has scheduled two free reverse mortgage seminars: Thursday at the YMCA of Burlington County, 59 Centerton Road, Mount Laurel; and Dec. 6 at the Ramada Inn, 2216 West Landis Ave., Vineland. (Tue, 04 Nov 2008 12:11:11 GMT)

EU nations clear emergency rescue loan for Hungary
EU governments on Tuesday cleared a 6.5 billion euro ($8.3 billion) loan for Hungary, part of an international package to rescue the country's economy in the wake of the financial crisis. (Tue, 04 Nov 2008 12:42:46 GMT)

EU nations clear emergency rescue loan for Hungary
EU governments on Tuesday cleared a 6.5 billion euro ($8.3 billion) loan for Hungary, part of an international package to rescue the country's economy in the wake of the financial crisis. It is the first time the European Union has used a crisis fund set up... (Tue, 04 Nov 2008 12:46:34 GMT)

Tucsonan gets 16 months for $13 million mortgage scam
A Tucson man was sentenced Monday to 16 months in federal prison for his role in a $13 million mortgage scam. (Tue, 04 Nov 2008 12:51:50 GMT)

Helen Mirren - Mirrens Mortgage Pretence
DAME HELEN MIRREN once had to pretend to be engaged to persuade a bank to give her a mortgage. The British actress admits she was unable to get on the property ... (Tue, 04 Nov 2008 12:53:54 GMT)

'Hope' adjusts scope of its reach
$300 billion program expects a fraction of eligible homeowners to apply for aid. The government expects only 20,000 troubled borrowers will apply to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Tue, 04 Nov 2008 13:36:09 GMT)

Banks ask for credit card debt forgiveness
WASHINGTON -- With defaults on credit card debt spiraling amid a global financial downturn, banks already reeling from the mortgage crisis are losing billions more from unpaid credit card bills. (Tue, 04 Nov 2008 15:59:16 GMT)

Santander's Abbey hikes tracker mortgage rates
Abbey, the mortgage bank owned by Spain's Banco Santander , said it would raise repayment rates on its tracker loans by up to 0.5 of a percentage point to new customers from Wednesday. (Tue, 04 Nov 2008 16:36:00 GMT)

Mortgage rates climb in Colorado
Mortgage rates rose to an average of 6.16 percent in Colorado last week, up 4.5 percent from the previous week, according to Zillow Mortage Rate Monitor data released Tuesday. (Tue, 04 Nov 2008 18:34:47 GMT)

HOME PAGE
RBI gives banks long rope on home loans portfolio Bid to prevent assets from being downgraded on restructuring. Mumbai, Nov. 4 Anticipating possible deterioration in home loan portfolios of scheduled commercial banks (SCBs), the Reserve Bank of India has extended the guidelines pertaining to ... (Tue, 04 Nov 2008 18:41:22 GMT)

Arrests Made In Mortgage Loan Scam
Two mortgage company employees are under arrest in connection with a mortgage loan scam against a senior citizen. (Tue, 04 Nov 2008 18:52:20 GMT)

Home builders lobbied for housing aid in 3Q
The home building industry's trade association spent $852,689 lobbying in the third quarter in support of bills aimed at propping up homeowners facing foreclosure and making it easier for would-be homeowners to buy, according to a recent disclosure form. (Tue, 04 Nov 2008 19:10:27 GMT)

U.S. 10-Year Notes Gain as Mortgage Debt Investors Buy Them
Nov. 4 (Bloomberg) -- U.S. 10-year notes gained as investors in mortgage-backed debt purchased the securities to help protect their portfolios against declining interest rates. (Tue, 04 Nov 2008 20:17:17 GMT)

Visionet Systems Upgrades its VisiRetention offering to facilitate HUD's Hope for Homeowners (H4H) Program
CRANBURY, N.J.----In response to the HUD bailout plan for US Mortgage industry, Visionet is offering an updated version of its VisiRetention solution to facilitate HUD’s Hope for Homeowners refinancing. (Tue, 04 Nov 2008 20:41:00 GMT)

Visionet Systems Upgrades its VisiRetention offering to facilitate HUD´s Hope for Homeowners (H4H) Program
In response to the HUD bailout plan for US Mortgage industry, Visionet is offering an updated version (Tue, 04 Nov 2008 20:46:28 GMT)

Visionet Systems Upgrades its VisiRetention offering to facilitate HUD's Hope for Homeowners (H4H) Program
In response to the HUD bailout plan for US Mortgage industry, Visionet is offering an updated version of its VisiRetention solution to facilitate HUD's Hope for Homeowners (H4H) refinancing. VisiRetention was first made available during the re-fi boom of 2005. VisiRetention can be up-and-running in a client's environment in just four to six weeks. (Tue, 04 Nov 2008 20:53:24 GMT)

Treasuries Gain as Mortgage Debt Investors Buy 10-Year Notes
Nov. 4 (Bloomberg) -- Treasuries rose, led by 10-year notes, as investors in mortgage-backed debt purchased the securities to help protect their portfolios against declining interest rates. (Tue, 04 Nov 2008 21:02:17 GMT)

Treasuries Gain as Mortgage Debt Investors Buy 10-Year Notes
Nov. 4 (Bloomberg) -- Treasuries rose, led by 10-year notes, as investors in mortgage-backed debt purchased the securities to help protect their portfolios against declining interest rates. (Tue, 04 Nov 2008 21:27:21 GMT)

Arrests made in mortgage loan scam
Two Proserve Mortgage Company employees have been arrested and a third remains at large in what Attorney General Catherine Cortez Masto said was an alleged scheme to file a loan against a senior citizen's wishes. (Tue, 04 Nov 2008 21:37:44 GMT)

Home, car loan rates set to fall
Statesman News Service NEW DELHI, Nov. 4: Happy days are here again for high-spending consumers who have taken, or are intending to take, home, car and other personal loans. (Tue, 04 Nov 2008 21:46:07 GMT)

Another $800 Million Of Hard-To-Sell Mortgage Debt On Auction Block
NEW YORK -(Dow Jones)- New lists of assets for sale circulated credit markets Tuesday, with $800 million of mortgage bonds put on the auction block. (Tue, 04 Nov 2008 22:01:14 GMT)

Mortgage rates coming down, but there's risks in fixing too long
Mortgage rates are coming down, say ASB economists, making it risky to fix an interest rate for too long. In its Home Loan Rate Report, the bank lays out the pros and cons of taking out mortgages for varying terms. (Tue, 04 Nov 2008 23:07:44 GMT)

New York, Seattle, Miami Home Foreclosures Increase (Update1)
Nov. 4 (Bloomberg) -- New foreclosures rose 50 percent in New York City and more than doubled in Seattle in October from a year earlier as falling prices and stricter mortgage standards kept homeowners from selling or refinancing, PropertyShark.com said. (Tue, 04 Nov 2008 23:37:13 GMT)

Abbey raises tracker mortgage rate
One of Britain's biggest high-street lenders came under fire last night after it raised its variable mortgage rates for new borrowers in what appeared to be a pre-emptive move before tomorrow's widely expected Bank of England base rate cut. (Wed, 05 Nov 2008 00:02:11 GMT)

Abbey raises mortgage rates
One of the largest mortgage lenders in the UK has pre-empted a cut to UK interest rates by raising variable mortgage rates. From Wednesday, Abbey will increase its two and three-year tracker rates, which mirror the movements of the Bank of England base rate, by up to 0.5 percentage points. (Wed, 05 Nov 2008 00:12:25 GMT)

Popular sells assets of US mortgage subsidiary to Goldman Sachs affiliates
Popular, a provider of financial services, has completed the sale of the loan and servicing assets of its US mortgage subsidiary Popular Financial Holdings to various Goldman Sachs affiliates. (Wed, 05 Nov 2008 01:53:04 GMT)

Commonwealth Bank reduces home loan interest rates by 0.58%
The Commonwealth Bank announced that it was reducing its standard variable home loan interest rate by 0.58% pa. This cut in home loan interest rates follows the Bank's previous interest rate cut of 0. (Wed, 05 Nov 2008 02:08:06 GMT)

Excess funds in mortgage
Can I use these funds to buy shares and claim a tax deduction on interest (mortgage interest) payable? (Wed, 05 Nov 2008 02:57:28 GMT)

Westpac cuts home loan rates
WESTPAC has cut its home loan rates by 65 basis points, after the Reserve Bank yesterday cut the official interest rate by 0.75 percentage points to 5.25 per cent. (Wed, 05 Nov 2008 03:44:00 GMT)

Westpac cuts home loan rates
WESTPAC has cut its home loan rates by 65 basis points, after the RBA yesterday cut the official interest rate to 5.25pc. (Wed, 05 Nov 2008 03:44:00 GMT)

Westpac cuts home loan rates
WESTPAC has cut its home loan rates by 65 basis points, after the Reserve Bank yesterday cut the official interest rate by 0.75 percentage points to 5.25 per cent. (Wed, 05 Nov 2008 03:44:00 GMT)

Westpac cuts home loan rate by 65 basis points
SYDNEY, Nov 5 (Reuters) - Westpac Banking Corp will cut its standard variable home loan rate by 0.65 percentage points, Australia's fourth-biggest lender said in a statement on Wednesday. (Wed, 05 Nov 2008 03:45:12 GMT)

Westpac cuts home loan rates
WESTPAC has cut its home loan rates by 65 basis points following yesterday's rate cut by the Reserve Bank. (Wed, 05 Nov 2008 04:15:00 GMT)

Slow response for new mortgage aid program
The government expects that only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Wed, 05 Nov 2008 04:27:57 GMT)

Westpac cuts variable home loan rate
Westpac Banking Corporation on Wednesday lowered its standard variable home loan interest rate by 65 basis points. Westpac's new rate will be 7.71 per cent, effective November 10. (Wed, 05 Nov 2008 04:57:05 GMT)

Mortgage aid idea falling short
ASSOCIATED PRESS WASHINGTON — The government expects only 20,000 troubled borrowers will be able to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer. (Wed, 05 Nov 2008 06:07:34 GMT)

NAB cuts home loan rates
NAB has reduced its standard variable home loan rate by 62 basis points, a day after the Reserve Bank cut official interest rates by 0.75 of a percentage point. (Wed, 05 Nov 2008 06:29:00 GMT)

NAB cuts home loan rates
NAB has reduced its standard variable home loan rate by 62 basis points, a day after the Reserve Bank cut official interest rates by 0.75 of a percentage point. (Wed, 05 Nov 2008 06:29:00 GMT)

NAB cuts home loan rates
NAB has reduced its standard variable home loan rate by 62 basis points, a day after the Reserve Bank cut official interest rates by 0.75 of a percentage point. (Wed, 05 Nov 2008 06:29:00 GMT)

05-11-2008:- Central bank buying of US mortgage debt to halve
NEW YORK: Foreign central banks and sovereign investment funds will halve their net purchases of US agency mortgage securities as falling US trade deficits and oil prices cut into reserves, according to Bank of America Corp. (Wed, 05 Nov 2008 06:31:28 GMT)

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