Mortgage News Feb 2009
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Get set for the 8p-a-month mortgage as Bank of England prepares to slash interest rates to 1%
Get set for the 8p-a-month mortgage as Bank of England prepares to slash interest rates to 1% (Sun, 01 Feb 2009 00:19:38 GMT)
Lenders cite squeeze on savers as they seek to limit mortgage cuts
Mortgage lenders are moving to dampen hopes that the cut in the Bank of England base rate expected this week will lead at once to lower borrowing costs. (Sun, 01 Feb 2009 00:26:13 GMT)
Senate Republicans to push to lower mortgage rates, cut tax rates
Republicans will push to lower mortgage rates to 4 percent and cut the lowest tax rates when the Senate begins consideration of its economic stimulus plan Monday, Senate GOP Leader Mitch McConnell said Saturday. (Sun, 01 Feb 2009 03:59:45 GMT)
Obama pledges mortgage help, fight against CEO greed
WASHINGTON (Reuters) - U.S. President Barack Obama promised Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again." (Sun, 01 Feb 2009 04:19:37 GMT)
Own a home? What about a loan?
Stephenson County homeowners are eligible to apply for low-interest home improvement loans currently available through the U.S. Department of Agriculture Rural Development program, said Lorali Heintzelman, an area specialist for the USDA Rural Development office in Oregon. (Sun, 01 Feb 2009 04:58:51 GMT)
SBI goes for the kill, cuts home loan rate to 8%
Happy days are here again for home buyers as the bank freezes the rate for a year. In a move that may trigger a rate war, State Bank of India (SBI) today said it would charge 8 per cent interest on new loans for home buyers and small and medium enterprises for a year. (Sun, 01 Feb 2009 05:03:24 GMT)
SBI's bonanza, freezes home loan rate for 1 year
SBI will offer home loans at an interest rate of 8 per cent for one year. (Sun, 01 Feb 2009 06:06:36 GMT)
Loose Change: Should you pay off a reverse mortgage?
Loose Change: Should you pay off a reverse mortgage? (Sun, 01 Feb 2009 06:15:31 GMT)
Obama pledges to unfreeze credit, lower mortgage costs, loans for businesses to create jobs
WASHINGTON -- President Barack Obama promised to lower mortgage costs, offer job-creating loans for small businesses, get credit flowing and rein in free-spending executives as he readies a new strategy for spending billions from the second installment of the financial rescue plan. (Sun, 01 Feb 2009 06:19:56 GMT)
John Streb joins Luxury Mortgage
Veteran broker part of retail division expansion MILFORD — Local resident John Streb has joined Stamford-based Luxury Mortgage Corp, a mortgage-banking firm that has been lending throughout the United States for over a decade. Streb is part of the company’s continued expansion of its retail division, adding 15 top producing loan officers to its existing staff of mortgage professionals. (Sun, 01 Feb 2009 07:28:04 GMT)
Big lenders tighten their mortgage rules
Wells Fargo & Co., the second-largest U.S. home lender, and Taylor, Bean & Whitaker Mortgage Corp., the biggest privately held mortgage company, are raising credit score requirements and other standards for government-insured loans. (Sun, 01 Feb 2009 07:46:39 GMT)
State Bank of India cuts home loan rate again
MUMBAI, Feb 1 (Reuters) - State Bank of India , the country's largest commercial bank, said it will lower its home loan rates to 8 percent for new customers over the coming year, the second time it has reduced mortgage rates in as many months as the economy slows. (Sun, 01 Feb 2009 07:47:30 GMT)
State Bank of India cuts home loan rate again
MUMBAI, Feb 1 (Reuters) - State Bank of India , the country's largest commercial bank, said it will lower its home loan rates to 8 percent for new customers over the coming year, the second time it has reduced mortgage rates in as many months as the economy slows. (Sun, 01 Feb 2009 07:47:30 GMT)
Obama pledges mortgage help with new financial plan
Obama: "The stimulus package would save or create at least three million jobs". US President Barack Obama promised yesterday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again." (Sun, 01 Feb 2009 09:36:44 GMT)
Stockholders sue N.C. mortgage insurance company
Stockholders are suing a mortgage insurance company claiming it violated federal securities law. (Sun, 01 Feb 2009 11:58:18 GMT)
Refinancing is not for everyone
The average interest rate for a 30-year mortgage recently dipped below 5 percent, a level not seen since the Eisenhower administration. Not surprisingly, homeowners are scrambling to commemorate this historic event by refinancing their mortgages. (Sun, 01 Feb 2009 12:08:15 GMT)
SBI goes for the kill, cuts home loan rate to 8%
Happy days are here again for home buyers as the bank freezes the rate for a year. In a move that may trigger a rate war, State Bank of India (SBI) today said it would charge 8 per cent interest on new loans for home buyers and small and medium enterprises for a year. (Sun, 01 Feb 2009 12:18:30 GMT)
GOP: Lower income taxes, mortgage rates
(By David Lightman, McClatchy Newspapers) Republicans aim to lower mortgage rates to 4 percent and cut the lowest tax rates when the Senate begins considering its economic stimulus plan Monday, Senate GOP Leader Mitch McConnell said Saturday. In the party's weekly radio address, McConnell urged bipartisan cooperation. “Earlier this week, President Obama came to Capitol Hill to speak with ... (Sun, 01 Feb 2009 12:41:15 GMT)
Indian American gets 7 years jail for mortgage fraud
An Indian American, who attracted top Bollywood stars for his stage performaces in the US, has been sentenced to seven year imprisonment in a $33 mn mortgage fraud case. (Sun, 01 Feb 2009 15:59:42 GMT)
SBI goes for the kill, cuts home loan rate to 8%
Happy days are here again for home buyers as the bank freezes the rate for a year. In a move that may trigger a rate war, State Bank of India (SBI) today said it would charge 8 per cent interest on new loans for home buyers and small and medium enterprises for a year. (Sun, 01 Feb 2009 18:48:30 GMT)
Obama promises lower mortgage costs, new loans
WASHINGTON, D.C. -- President Barack Obama on Saturday promised to lower mortgage costs, offer job-creating loans for small businesses, get credit flowing and rein in free-spending executives as he readies a new road map for spending billions from the second installment of the financial rescue plan. | Video (Sun, 01 Feb 2009 19:16:49 GMT)
SBI goes for the kill, cuts home loan rate to 8%
Happy days are here again for home buyers as the bank freezes the rate for a year. In a move that may trigger a rate war, State Bank of India (SBI) today said it would charge 8 per cent interest on new loans for home buyers and small and medium enterprises for a year. (Sun, 01 Feb 2009 19:18:32 GMT)
Get ready for the 8p-a-month mortgage as Bank of England prepares to slash rates to 1%
Some homeowners could see their monthly mortgage payments drop as low as zero this week. (Sun, 01 Feb 2009 19:48:26 GMT)
Mortgage crisis spreads to more affluent areas of Silicon Valley
In almost every neighborhood in Santa Clara County, homeowners are increasingly falling behind on their mortgage payments — even in areas that were relatively untouched by the foreclosure crisis as recently as late 2007. Database: See deliquency rates for every Bay Area ZIP code More real estate news (Sun, 01 Feb 2009 23:10:52 GMT)
Virus would have crippled mortgage giant's servers, court told
MARYLAND - A fired Fannie Mae contract worker pleaded not guilty last Friday to charges he planted a virus designed to destroy all the data on the mortgage giant's 4,000 computer servers in the United States, according to federal prosecutors. (Mon, 02 Feb 2009 00:25:00 GMT)
Lower interest rates spur mortgage refinancing
COLUMBIA — Donna Keller and her husband Keith have lived in their Hallsville home for 14 years. Donna had been monitoring mortgage interest rates, and when they hit 5.75 percent in December, she knew it was time to call her loan officer. A week later the lender called and said mortgage rates had dropped to 5.25 percent. The Kellers exchanged their old rate of 7 percent for the 5.25 ... (Mon, 02 Feb 2009 01:04:30 GMT)
Brubaker bills seek mortgage reform
State Sen. Mike Brubaker is taking another crack at reforming the mortgage industry.Brubaker, a Warwick Township Republican, intends to reintroduce a pair of bills that together would protect whistle-blowers and prevent mortgage brokers from withholding key information from their customers.The senat... (Mon, 02 Feb 2009 04:55:32 GMT)
Finance: With interest rates low, bankers report a renewed interest in mortgage ‘refis’
Chuck Weber purchased his home in Altamont less than two years ago, with a 30-year mortgage and a fixed rate of 6.125 percent. (Mon, 02 Feb 2009 05:10:36 GMT)
Home refinancing applications reach five-year peak
Mike Leahy has felt the recent explosion in home refinancings from two sides. (Mon, 02 Feb 2009 05:15:07 GMT)
Don't Refinance Or Finance Your Home Without A Mortgage Document Review & Analysis From The Renown Mortgage Inspection ...
The Mortgage Inspection service is a mortgage document review and analysis that was created to insure individuals wishing to finance or refinance a home are not being cheated, or over charged before they close on a home loan or refinance. (Mon, 02 Feb 2009 07:01:00 GMT)
Virus would have crippled mortgage giant's servers, court told
MARYLAND - A fired Fannie Mae contract worker pleaded not guilty last Friday to charges he planted a virus designed to destroy all the data on the mortgage giant's 4,000 computer servers in the United States, according to federal prosecutors. (Mon, 02 Feb 2009 07:24:59 GMT)
South Africa: Mortgage Growth At Lowest in Five Years
Johannesburg — GROWTH in mortgage advances declined to its lowest level in five years, falling to 13,2% in December and continuing its fall from November's 14,9%. (Mon, 02 Feb 2009 07:44:53 GMT)
John Streb joins Luxury Mortgage
Veteran broker part of retail division expansion MILFORD — Local resident John Streb has joined Stamford-based Luxury Mortgage Corp, a mortgage-banking firm that has been lending throughout the United States for over a decade. Streb is part of the company’s continued expansion of its retail division, adding 15 top producing loan officers to its existing staff of mortgage professionals. (Mon, 02 Feb 2009 07:56:26 GMT)
Mobile home owners in Simi can receive loans for repairs
Owners of mobile homes in Simi Valley who want to make home repairs are now eligible to receive loans up to $10,000 from the city. Last week, the City Council extended rehabilitation loan policies to include the 800 or so owners of mobile homes in the city. (Mon, 02 Feb 2009 08:06:44 GMT)
Cut your housing payments
The average interest rate for a 30-year mortgage dipped below 5 percent in mid-January, a level not seen since the Eisenhower administration. Not surprisingly, homeowners are scrambling to commemorate this historic event by refinancing their mortgages. (Mon, 02 Feb 2009 08:13:36 GMT)
New Mortgage Loan Modification Website Launches - Modification.org Now Offering Free Advice on Lowering Mortgage ...
A new website located at www.Modification.org is now live and is helping American Homeowners drastically reduce monthly mortgage payments, lower interest rates, reduce their principal balance and avoid foreclosure with their Mortgage Loan Modification Service. This Loan Modification Company offers an Attorney backed Loan Modification Program in all 50 states and a 100% Satisfaction, Money ... (Mon, 02 Feb 2009 08:21:43 GMT)
Area lenders swamped with refinance requests
Historically low interest rates have sent Helenans rushing to local banks, credit unions and mortgage brokers to refinance their home loans. (Mon, 02 Feb 2009 08:47:07 GMT)
Refinancing may not wipe out PMI
Refinancing will not be enough to help a homeowner eliminate her private mortgage insurance payments. (Mon, 02 Feb 2009 11:00:00 GMT)
Hong Kong's Residential Mortgage Loans In Negative Equity Surge In December Quarter
(RTTNews) - Monday, results of a survey released by the Hong Kong Monetary Authority showed that the number of residential mortgage loans or RMLs in negative equity increased to 10,949 cases at the end of December from 2,568 at the end of September. (Mon, 02 Feb 2009 11:18:22 GMT)
Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, I was wondering if refinancing my house at the new lower rates would rid me of private mortgage insurance. I am at 86 percent loan-to-value right now on a $264,000 loan at 5.75 percent. (Mon, 02 Feb 2009 11:49:51 GMT)
Biggest U.S. Mortgage Lenders
Residential mortgage originations during 2008 at Wells Fargo & Co. were higher than at any other U.S. lender, according to an analysis of earnings data by http://www.MortgageDaily.com. (Mon, 02 Feb 2009 12:00:00 GMT)
PMS ditch ‘mortgage’ moniker
Premier Mortgage Service has dropped its mortgage name to now become just PMS. ... (Mon, 02 Feb 2009 12:44:48 GMT)
Mortgage interest 'could reach 8p'
More than 1,000 homeowners could be left paying interest of just 8p a month on their mortgage if the Bank of England base rate is cut again this week. (Mon, 02 Feb 2009 13:05:32 GMT)
Over 1,000 homeowners set to pay just 8p a month mortgage interest
More than 1,000 homeowners could be left paying interest of just 8p a month on their mortgage if the Bank of England base rate is cut again this week, it emerged today. (Mon, 02 Feb 2009 13:07:52 GMT)
Wells Fargo Tops Mortgage Rankings
Wells Fargo Tops Mortgage Rankings (Mon, 02 Feb 2009 13:55:30 GMT)
Ramping up mortgage lending
Univest National Bank and Trust Co. is looking to triple its volume in 2009, with the establishment of a dedicated mortgage banking business line. (Mon, 02 Feb 2009 14:19:44 GMT)
Fannie Mae and Freddie Mac Can Help Ease Mortgage Crisis With Streamline Refinances, Expert Says
A new Fannie Mae/Freddie Mac refinance program could bring significant relief for the mortgage crisis. According to Rodney Anderson, the nation's #1 producer of FHA and VA loans, initiating streamline refinances for Fannie Mae and Freddie Mac will enable more homeowners to transition into quality loans, which would not only prevent future foreclosures, defaults and delinquencies, but would also ... (Mon, 02 Feb 2009 15:04:00 GMT)
Mortgage counseling Tuesday
Today is the deadline to register for a Mortgage Default Counseling and Foreclosure Clinic being offered Tuesday evening in Charlotte. The clinic, which is free and open to the public, is sponsored by United Family Services, along with the N.C. Housing Finance Agency. It will be from 6-8 p.m. at United Family Services, 601 East Fifth Street in Charlotte. Counselors from United Family Service's ... (Mon, 02 Feb 2009 15:26:08 GMT)
Numbers missing a mortgage payment double in a year
The number of people missing a mortgage payment has almost doubled in a year new research has revealed. (Mon, 02 Feb 2009 15:39:54 GMT)
Wayne County sheriff to halt mortgage foreclosure sales
DETROIT -- Wayne County Sheriff Warren Evans announced today that his office will halt all mortgage foreclosure sales. (Mon, 02 Feb 2009 15:49:10 GMT)
Upper St. Clair man pleads guilty to mortgage fraud
An Upper St. Clair man pleaded guilty today to his role in a mortgage fraud scheme that involved millions of dollars in bogus transactions. (Mon, 02 Feb 2009 17:15:57 GMT)
Dodd To Refinance Questionable Mortgages
Sen. Dodd says he'll refinance two mortgages he received through a VIP program from Countrywide Financial Corp., which is accused of giving favorable loan terms to some lawmakers. (Mon, 02 Feb 2009 18:17:09 GMT)
Dodd says he'll refinance Countrywide loans
Senate Banking Committee Chairman Chris Dodd, whose two mortgages with a troubled lender are under a Senate ethics investigation, said Monday he will refinance them. (Mon, 02 Feb 2009 18:30:49 GMT)
Dodd Promises To Refinance Questionable Mortgages
Senate Banking Committee Chairman Chris Dodd, whose two mortgages with a troubled lender are under a Senate ethics investigation, said Monday he will refinance them. Dodd said he sought no special treatment from Countrywide Financial Corp., when he refinanced his Washington and East Haddam, Conn., homes in 2003. (Mon, 02 Feb 2009 18:35:23 GMT)
Dodd Says He Will Refinance VIP Mortgages
Connecticut Sen. Chris Dodd says he sought no special treatment from Countrywide, but will refinance mortgages he received through a VIP program. (Mon, 02 Feb 2009 18:46:24 GMT)
Kaliningrad should keep mortgage program for young families - Putin
MOSCOW, February 2 (Itar-Tass) - Russian Prime Minister Vladimir Putin believes it is necessary to keep in the Kaliningrad region the mortgage program for young families. Putin said so at a meeting with Kaliningrad region governor Georgy Boos on Monday. (Mon, 02 Feb 2009 18:49:07 GMT)
Dodd Says He'll Refinance Countrywide Mortgages
Senator Dodd says he will refinance two mortgages he has with Countrywide that are under Senate ethics investigation. (Mon, 02 Feb 2009 19:09:49 GMT)
UPDATE:US Sen Dodd: I Acted 'Properly' On Suspect Mortgage Loans
WASHINGTON -(Dow Jones)- The chairman of the U.S. Senate Banking Committee said Monday he didn't seek special rates and didn't act inappropriately over mortgage loans tied to a special VIP program at now-defunct Countrywide Financial Corp. (Mon, 02 Feb 2009 19:33:36 GMT)
Cowen Joins BOK Financial Mortgage Affiliate
LendingTree and Wachovia veteran Ben Cowen named present of Mortgage Search & Acquisition. (Mon, 02 Feb 2009 19:49:54 GMT)
Quaresma joins Chelsea on loan from Inter
Chelsea have signed Portugal winger Ricardo Quaresma on loan from Inter Milan until the end of the season, the Premier League club said on Monday. (Mon, 02 Feb 2009 19:52:38 GMT)
Dodd Says He Will Refinance His Countrywide Mortgages (Update1)
“We will refinance our homes and, in an abundance of caution, we will be seeking a third party to negotiate the new loan terms on our behalf,” Dodd said today at a news conference in Hartford, Connecticut. (Mon, 02 Feb 2009 20:14:59 GMT)
Senator Dodd to refinance two Countrywide mortgages
Democratic Sen. Christopher Dodd said on Monday he will refinance two mortgages that he took out in 2003 under Countrywide Financial Corp's VIP program and later triggered a Senate ethics investigation. (Mon, 02 Feb 2009 20:40:01 GMT)
Have home loan? EMIs are set to fall
NEW DELHI: If fresh home loan borrowers had reason to celebrate on Saturday when State Bank of India (SBI) cut its rate to 8%, existing borrowers too can look forward to paying lower EMI very soon. (Mon, 02 Feb 2009 20:55:53 GMT)
Republicans push low-rate mortgage in U.S. stimulus
Republican lawmakers want a fiscal stimulus bill of nearly $900 billion to include a provision that would drive down mortgage rates to as low as 4 percent in an effort to jumpstart the moribund housing market. (Mon, 02 Feb 2009 21:41:31 GMT)
Dodd Says He Will Refinance His Countrywide Mortgages (Update1)
“We will refinance our homes and, in an abundance of caution, we will be seeking a third party to negotiate the new loan terms on our behalf,” Dodd said today at a news conference in Hartford, Connecticut. (Mon, 02 Feb 2009 21:57:04 GMT)
PSBs mull capping home loan rate at 8%
The Indian Banks' Association would review the response of borrowers towards the SBI scheme after three weeks and if it finds that there has been a good response, other banks will follow suit. (Mon, 02 Feb 2009 22:06:39 GMT)
Dodd refinancing 2 personal Countrywide loans
Senate Banking Committee Chairman Chris Dodd said Monday he will refinance two personal home mortgages from a troubled national lender that are being investigated by a Senate ethics panel. (Mon, 02 Feb 2009 22:26:19 GMT)
Dodd to Refinance Countrywide Loans After Criticism (Update2)
Feb. 2 (Bloomberg) -- U.S. Senator Christopher Dodd and his wife will refinance mortgages with Countrywide Financial Corp. amid criticism they got preferential terms from the lender blamed for helping trigger the subprime crisis. (Mon, 02 Feb 2009 22:41:15 GMT)
Dodd releases mortgage information
HARTFORD -- Facing a record-low approval rating and partisan claims of sweetheart mortgage deals in 2003, a contrite U.S. Sen. Chris Dodd on Monday finally let reporters review hundreds of pages of (Mon, 02 Feb 2009 23:09:42 GMT)
S&P Cuts Hundreds Of Mortgage Certificates To Default Rating
Standard & Poor's Ratings Services cut its ratings to default on hundreds of classes of mortgage pass-through certificates from U.S. subprime residential mortgage-backed securities transactions, Alternative-A RMBS transactions and closed-end second-lien RMBS transactions. (Mon, 02 Feb 2009 23:18:07 GMT)
GOP wants mortgage relief, tax cuts in stimulus
Senate Republicans pressed for mortgage relief as well as larger tax cuts Monday as debate opened on the emergency economic stimulus measure atop President Barack Obama's agenda. Democrats came under pressure to reduce spending in the bill. (Mon, 02 Feb 2009 23:30:37 GMT)
Dodd says he'll refinance Countrywide loans
Senate Banking Committee Chairman Chris Dodd, whose two mortgages with a troubled lender are subject of a Senate ethics investigation, said Monday that he will refinance them. (Mon, 02 Feb 2009 23:40:08 GMT)
Federal Home Loan Bank's rating under review
(Reuters) — Moody's Investors Service on Monday said it may cut the Federal Home Loan Bank of Chicago's subordinated debt rating on concern that capital shortfalls could jeopardize interest payments. Losses on the bank's portfolio of residential mortgage-backed securities and interest-rate ... (Mon, 02 Feb 2009 23:54:11 GMT)
Lawsuits target home loan appraisals
Twin federal lawsuits accuse Countrywide and Wells Fargo of a home-appraisal moneymaking scheme. (Tue, 03 Feb 2009 01:14:55 GMT)
Hong Kong Negative-equity Home Mortgage Loans Quadruple
Hong Kong Negative-equity Home Mortgage Loans Quadruple (Tue, 03 Feb 2009 01:40:13 GMT)
Mixed results for program that offers mortgage help
HARTFORD -- Members of the legislature's Banks Committee learned Monday that parts of their emergency mortgage assistance program have succeeded but others are not helping enough homeowners. (Tue, 03 Feb 2009 03:00:19 GMT)
Mortgage rates 'under review'
Australia's biggest four home loan lenders are reviewing their are reviewing their mortgage rates after the central bank cut the cash rate. (Tue, 03 Feb 2009 04:28:01 GMT)
Mortgage rates 'under review'
Australia's biggest four home loan lenders are reviewing their are reviewing their mortgage rates after the central bank cut the cash rate. (Tue, 03 Feb 2009 04:28:10 GMT)
Banks say mortgage rates under review
AUSTRALIA'S biggest four home loan lenders are reviewing their mortgage rates after the central bank cut the cash rate. (Tue, 03 Feb 2009 04:36:07 GMT)
Mortgage industry doing fine; refinancing up 400%-500% at one local firm
While home sales sputtered last year in the midst of a national recession, the federal government’s aggressive moves to prop up the economy spurred a year-end boom in mortgage refinancing that has carried over into 2009, and left some firms scrambling to keep up with demand. (Tue, 03 Feb 2009 05:07:44 GMT)
Senate Republicans push mortgage relief
GOP lawmakers also want to cut the two lowest tax brackets WASHINGTON ? Senate Republicans pressed for mortgage relief as well as larger tax cuts Monday as debate opened on the emergency economic stimulus measure atop President Barack Obama's agenda. Democrats came under pressure to reduce spending in the bill."What we can't do is let very modest differences get in the way" of swift enactment ... (Tue, 03 Feb 2009 05:09:58 GMT)
Mortgage relief, tax cuts urged for plan
A top Republican called for more mortgage relief and additional tax cuts in President Barack Obama’s economic-stimulus package as Democrats said privately that they will drop items that have drawn bipartisan criticism. Senate Minority Leader Mitch McConnell, R-Ky., told reporters yesterday that “a stimulus bill must fix the main problem first, and that’s housing.“ He said Republicans would offer ... (Tue, 03 Feb 2009 05:10:43 GMT)
Upper St. Clair man pleads guilty in mortgage scheme
An Upper St. Clair man pleaded guilty Monday to his role in a mortgage fraud scheme that involved millions of dollars in bogus transactions and prompted the creation of a special task force to investigate such cases in Western Pennsylvania. (Tue, 03 Feb 2009 05:12:57 GMT)
Database: See how many homes in your San Francisco Bay Area ZIP code are worth less than the mortgage
Wondering how bad the housing crisis is in your Bay Area neighborhood? Search our database by ZIP code to see how many homes are worth less than the mortgage. You'll also see the proportion of homes that were sold in the last year at a loss or through a foreclosure or short sale. (Tue, 03 Feb 2009 05:33:25 GMT)
Dodd refinancing 2 personal Countrywide loans
Dodd refinancing two Countrywide loans (Tue, 03 Feb 2009 06:13:41 GMT)
Refinancing requires high credit score, home value
Low mortgage rates are making it an attractive time to refinance, but local lenders say homeowners are finding tougher lending requirements. (Tue, 03 Feb 2009 06:35:55 GMT)
Real Estate Portal Helps Home Buyers, Home Sellers and Real Estate Investors During Down Market
Real Estate expert offers online home buying tips, home selling tips, mortgage loan guides, foreclosure guides and real estate investment tips for buyers and sellers looking to take advantage of unique real estate market conditions. (Tue, 03 Feb 2009 07:01:00 GMT)
Area lenders swamped with refinance requests
Historically low interest rates have sent Helenans rushing to local banks, credit unions and mortgage brokers to refinance their home loans. (Tue, 03 Feb 2009 07:02:00 GMT)
Mortgage lending rebounds in December
Mortgage lending doubled during December, but the figure was only a quarter of the level seen 12 months earlier, the Bank of England said today. Net lending, which strips out redemptions and repayments, was £1.9bn during the month – up from November's depressed level of £834m. But the figure was well down on lending levels in December 2007 when net lending totalled £7.72bn. The number of ... (Tue, 03 Feb 2009 08:15:48 GMT)
Briefly: Dodd to release Countrywide mortgage documents
Connecticut Sen. Chris Dodd announced he would release documents relating to his 2003 mortgage from Countrywide. (Tue, 03 Feb 2009 08:19:09 GMT)
Racial bias remains in Ohio mortgage lending, says report on 2007 data
Higher-income blacks in Ohio were denied home loans in 2007 at a rate higher than lower-income whites, numbers that point to a continuing trend of racial bias in mortgage lending, a study by the Cleveland-based Housing Research & Advocacy Center... (Tue, 03 Feb 2009 09:56:37 GMT)
FLAC criticises new code for mortgage lenders
The Free Legal Advice Centre is criticising new government plans for the regulation of mortgage lenders. (Tue, 03 Feb 2009 11:04:23 GMT)
Dodd Releases Personal-mortgage Files
Hartford - Sen. Christopher J. Dodd will refinance the mortgages he and his wife secured from Countrywide Financial Corp., he said Monday, as he (Tue, 03 Feb 2009 11:39:11 GMT)
Dodd releases loan details
HARTFORD — U.S. Sen. Christopher Dodd and his wife, Jackie Clegg Dodd, Monday released financial documents on their two home mortgages and a financial analysis that puts their loan rates in the same ballpark as similar borrowers five years ago. (Tue, 03 Feb 2009 11:48:03 GMT)
Dodd Says He Will Refinance Two Controversial Mortgages
To stanch a political wound that has bled him for months, U.S. Sen. Christopher J. Dodd said Monday he will refinance two mortgages that are the subject of a Senate ethics investigation. (Tue, 03 Feb 2009 12:37:54 GMT)
Taxes dip for Commercial Mortgage creditors
Commercial Mortgage & Finance’s 1,400 creditors can’t access their investments because of the company’s bankruptcy filing, but they will get a break on their taxes. (Tue, 03 Feb 2009 12:45:28 GMT)
10 Appraisal Tips that Will Save You Time and Money on Your Mortgage Refinance
COLUMBUS, Ohio----Mortgage rates are at near-historic lows, but sinking home values are often lowering appraisals as well. If you are considering refinancing your home, what do you need to know about the appraisal process to help ensure that you get the best possible appraisal on your home? (Tue, 03 Feb 2009 13:00:00 GMT)
Mixed results for program that offers mortgage help
HARTFORD -- Members of the legislature's Banks Committee learned Monday that parts of their emergency mortgage assistance program have succeeded but others are not helping enough homeowners. (Tue, 03 Feb 2009 13:38:27 GMT)
Houston-Area Bank and Mortgage Professionals Adjust to Tighter Home Loan Requirements
New Freddie Mac and Fannie Mae policies have made credit scores much more important to Houston's mortgage lenders. In general, loan requirements have increased, and fees and down payment requirements are higher for lower scores. (Tue, 03 Feb 2009 14:45:00 GMT)
NIBC Bank Skips Option to Redeem EU200 Million of Mortgage Debt
Feb. 3 (Bloomberg) -- NIBC Holding NV, the Dutch investment bank whose owners include J.C. Flowers & Co., chose not to use an option to redeem 200 million euros ($256 million) of mortgage-backed bonds at their expected call date. (Tue, 03 Feb 2009 14:45:20 GMT)
Zillow: Colorado mortgage rates climbing
After dropping below 5 percent in early January, Colorado's average interest rate for a 30-year fixed-rate mortgage has been trending upward in recent weeks, and stood at 5.89 percent Tuesday, its highest level since November and well above the national average, according to real estate website Zillow.com. (Tue, 03 Feb 2009 15:10:56 GMT)
Pending home sales rise in December
Plunging home prices and low mortgage rates pushed homebuying activity higher in December, according to a regular industry report released on Tuesday. (Tue, 03 Feb 2009 15:11:45 GMT)
GOP wants tax, mortgage cuts in stimulus plan
WASHINGTON - Senate Republicans pressed for mortgage relief as well as larger tax cuts Monday as debate opened on the emergency economic stimulus measure atop President Barack Obama's agenda. (Tue, 03 Feb 2009 15:52:35 GMT)
Tennessee to screen mortgage loan officers
The Tennessee Department of Financial Institutions has gone online with Nationwide Mortgage Licensing, a federally mandated Internet-based system that allows mortgage companies and loan originators to apply for and manage their licenses electronically. (Tue, 03 Feb 2009 17:07:54 GMT)
Dodd discloses mortgage data, insists he got no preferential treatment
HARTFORD — U.S. Sen. Christopher J. Dodd said Monday that he intends to refinance two controversial loans he obtained in 2003 through a program that Countrywide Financial Corp.’s CEO set up for influential “friends.” (Tue, 03 Feb 2009 17:07:54 GMT)
Help! I'm behind on my mortgage: What can I do
If you have fallen behind on your mortgage payments, the U.S. Department of Housing and Urban Development suggests calling your lender as soon as possible to discuss options. (Tue, 03 Feb 2009 17:39:01 GMT)
Lawsuits target home loan appraisals
Twin federal lawsuits accuse Countrywide and Wells Fargo of a home-appraisal moneymaking scheme. (Tue, 03 Feb 2009 17:58:42 GMT)
Zillow: Ga. mortgage rates still lowest
Georgia’s average 30-year fixed mortgage rate was the lowest in America last week, but rose 1.6 percent, according to real estate Web site Zillow.com. (Tue, 03 Feb 2009 18:43:11 GMT)
Getting home loan still not easy
Despite interest rates are coming down, people are still finding it difficult to take a home loan. (Tue, 03 Feb 2009 19:35:04 GMT)
Tata Capital plans foray into home loan biz
Tata Group's financial services arm Tata Capital, which is raising Rs 500 crore through a debenture issue, is expected to start its home loan business by March this year. (Tue, 03 Feb 2009 20:18:33 GMT)
NAB cuts home loan rates
THE National Australia Bank has become the third of the big four Australian banks to pass on yesterday's official interest rate cut in full. (Tue, 03 Feb 2009 22:04:00 GMT)
Poll: Readers support mortgage moratorium
What’s a year without having to pay a mortgage? A prescription for economic recovery, according to the most recently completed Business Pulse Survey. (Tue, 03 Feb 2009 22:28:06 GMT)
Getting home loan still not easy
NEW DELHI: Despite interest rates are coming down, people are still finding it difficult to take a home loan. Reason: Banks now insist that borrowers need to contribute 20-30% of the value of the property upfront, instead of 10-15% earlier. (Tue, 03 Feb 2009 22:55:12 GMT)
Teacher mortgage incentive bill dies
It is better to put money and energy toward boosting teacher salaries, said people who spoke out against a bill that would have implemented an educator mortgage incentive program. (Tue, 03 Feb 2009 23:43:05 GMT)
Mortgage Fraud Offenses Lead To 11 Arrests
CLEVELAND -- Cuyahoga County authorities have announced indictments in three cases of mortgage fraud. (Tue, 03 Feb 2009 23:54:19 GMT)
Guardian Trust investors approve Mortgage Fund wind down
Investors in the Guardian Trust Mortgage Fund have unanimously voted in favour of winding down the $249 million fund. Around 120 people turned out to vote in person at the Ellerslie Convention Centre in Auckland today. (Wed, 04 Feb 2009 00:22:22 GMT)
BankSA cuts home loan rate
WESTPAC'S BankSA has passed the Reserve Bank's full 1 per cent cut to its home loan customers today. (Wed, 04 Feb 2009 01:00:00 GMT)
Commonwealth Bank reduces home loan interest rates by 1.00%
The Commonwealth Bank announced that it will cut its standard variable home loan interest rate by 1.00% following the Reserve Bank of Australia's cut to the official cash rate. The Bank's new standard (Wed, 04 Feb 2009 03:09:58 GMT)
Conventional loan limit is a hurdle for high-end homes
Some frustrated consumers are discovering that today's lower mortgage interest rates don't apply to buying or refinancing higher-priced homes, sparking calls for help from Congress. (Wed, 04 Feb 2009 04:55:00 GMT)
Tata Capital plans foray into home loan biz
Tata Group's financial services arm Tata Capital, which is raising Rs 500 crore through a debenture issue, is expected to start its home loan business by March this year. (Wed, 04 Feb 2009 04:57:19 GMT)
Mortgage jobs are available
Nearly 200 more temporary—but relatively long-duration—jobs for mortgage professionals will be opening up in the Richmond area soon. Staffing firm Aerotek is looking for experienced mortgage processors and closers to help deal with a wave of refinancing, the Hanover, Md.-based company said. Aerotek is seeking to meet demand for mortgage processors and closers by early March. The jobs will last ... (Wed, 04 Feb 2009 05:41:58 GMT)
Tata Capital plans foray into home loan biz
Tata Group's financial services arm Tata Capital, which is raising Rs 500 crore through a debenture issue, is expected to start its home loan business by March this year. (Wed, 04 Feb 2009 05:42:16 GMT)
Second mortgage-related shock could hit Minnesota
Some experts say a second mortgage-related shock may be poised to hit Minnesota in the next two years. Experts say now is the time to prepare. (Wed, 04 Feb 2009 06:09:10 GMT)
Dodd says he'll refinance Countrywide loans
HARTFORD — Senate Banking Committee Chairman Chris Dodd, whose two mortgages with a troubled lender are under a Senate ethics investigation, said Monday he will refinance them. (Wed, 04 Feb 2009 06:23:26 GMT)
Contractors can exploit mortgage turmoil
With Barclays having announced their lowest ever fixed rate and Mortgage Express waiving all redemption penalties, the recent turmoil in the mortgage market is beginning to through up a number of potentially very profitable opportunities for contractors. (Wed, 04 Feb 2009 06:28:07 GMT)
Dodd discloses mortgage data, insists he got no preferential treatment
HARTFORD — U.S. Sen. Christopher J. Dodd said Monday that he intends to refinance two controversial loans he obtained in 2003 through a program that Countrywide Financial Corp.’s CEO set up for influential “friends.” (Wed, 04 Feb 2009 06:29:18 GMT)
Dodd releases details of sweetheart mortgage deals
HARTFORD, Conn. (AP) - Senate Banking Committee Chairman Chris Dodd, whose two mortgages with a troubled lender are subject of a Senate ethics investigation, said Monday that he will refinance them. (Wed, 04 Feb 2009 07:50:38 GMT)
China's ICBC to cut mortgage rate for best clients
BEIJING, Feb 4 (Reuters) - Industrial and Commercial Bank of China said on Wednesday that it would cut mortgage rates to 70 percent of benchmark lending rates for high-quality clients. (Wed, 04 Feb 2009 08:46:07 GMT)
LIC Housing Finance cuts home loan rates by 100 bps
LIC Housing Finance (LICHF) has slashed lending rates for new borrowers by 100 basis points across various loan categories. (Wed, 04 Feb 2009 08:57:09 GMT)
China's ICBC to cut mortgage rate for best clients
BEIJING, Feb 4 (Reuters) - Industrial and Commercial Bank of China said on Wednesday that it would cut mortgage rates to 70 percent of benchmark lending rates for high-quality clients. (Wed, 04 Feb 2009 09:01:59 GMT)
Citigroup, Pressured by FDIC, Expands Mortgage-Relief Program
Feb. 4 (Bloomberg) -- Citigroup Inc. , the U.S. bank forced to curb executive pay and slash stock dividends as a condition of its $346 billion bailout, now has to expand the use of a government mortgage-relief program to meet regulators’ demands. (Wed, 04 Feb 2009 10:01:16 GMT)
ANZ to lower variable home loan rates
Australia and New Zealand Banking Group has announced that it will lower the interest rate on its standard variable rate home loan by 1% pa following the Reserve Bank of Australias decision to reduce the cash rate. (Wed, 04 Feb 2009 11:34:26 GMT)
Commonwealth Bank of Australia to reduce home loan interest rates
The Commonwealth Bank of Australia has announced that it will cut its standard variable home loan interest rate by 1% following the Reserve Bank of Australias cut to the official cash rate. (Wed, 04 Feb 2009 11:36:02 GMT)
US MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Wed, 04 Feb 2009 12:01:49 GMT)
US MBA Mortgage Survey Table Of Current Interest Rates
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 5.51 1.12 5.28 6 21 -33 15-Year Fixed 5.45 1.21 5.15 16 48 6 ARM, 1-Yr Tsy 6.11 0.07 6.09 14 19 48 FHA 203 (b) 5.61 1.03 5.43 20 33 -79 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 04 Feb 2009 12:02:30 GMT)
U.S. mortgage applications up as refinancing jumps
NEW YORK, Feb 4 (Reuters) - U.S. mortgage applications rose in the last week of January, reflecting a jump in demand for home refinancing loans even as interest rates rose to their highest levels since early December, data from an industry group showed on Wednesday. (Wed, 04 Feb 2009 12:17:03 GMT)
UPDATE: Week-to-Week Refinancing Applications Rise 15.8%: MBA
CHICAGO (Dow Jones) -- The volume of applications filed to refinance mortgages increased 15.8% last week compared with the week before, as applicants looked past higher mortgage rates, yet the Mortgage Bankers Association said Wednesday. (Wed, 04 Feb 2009 12:18:00 GMT)
Week-to-week refinancing applications rise 15.8%: MBA
Applicants eager to lock in lower rates give rise to a 15.8% increase in the number of applications filed to refinance existing mortgages compared with the week before, Mortgage Bankers Association data show. (Wed, 04 Feb 2009 12:21:56 GMT)
(AFX UK Focus) 2009-02-04 12:15 U.S. mortgage applications up as refinancing jumps
By Julie Haviv (Wed, 04 Feb 2009 12:34:18 GMT)
Mortgage applications rise
Despite the highest interest rates in more than a month, a refinancing surge sends mortgage applications up 8.6% in the last week of January. (Wed, 04 Feb 2009 12:41:45 GMT)
Refinancing pushes mortgage applications up as rates rise
Mortgage applications rose the last week of January, reflecting a jump in demand for home refinancing even as interest rates rose to their highest levels since early December, according to the Mortgage Bankers Assocaition's weekly report. (Wed, 04 Feb 2009 13:14:11 GMT)
Mortgage Applications Up 8.6%
Industry data released on Wednesday showed that mortgage application volume increased almost 9 percent last week, as the refinance index rose nearly 16 percent. (Wed, 04 Feb 2009 15:03:13 GMT)
Central States Mortgage sues founder, former execs on fraud claims
Central States Mortgage Co., one of the largest mortgage bankers in the state, has accused its founder and former chief executive officer along with four other former top employees of racketeering in a lawsuit that also alleges the five conspired to defraud the company of at least $15 million. (Wed, 04 Feb 2009 16:31:32 GMT)
Malkin Forgoes Funding Empire State Renovations With Mortgage
Feb. 4 (Bloomberg) -- New York developer Peter Malkin , faced with declining commercial real estate markets, has dropped plans to use a second mortgage on the Empire State Building to finance a $625 million renovation. (Wed, 04 Feb 2009 16:47:06 GMT)
Wells Fargo mortgage unit's bash in Vegas off
Wells Fargo & Co. has canceled plans to fly members of its mortgage unit to Las Vegas for a pricey 12-day stay following criticism from Capitol Hill that costly celebrations were inappropriate given that the bank has taken a federal cash infusion of $25... (Wed, 04 Feb 2009 16:50:58 GMT)
Federal Home Loan Bank of Atlanta to Award More Than $9.2 Million for Affordable Housing in Florida
Federal Home Loan Bank of Atlanta announced today that it will award more than $9.2 million to fund 18 affordable housing developments in Florida. (Wed, 04 Feb 2009 16:54:00 GMT)
Mortgage Refinancing Change Faces Hurdles, FHFA’s Lockhart Says
Feb. 4 (Bloomberg) -- Homeowners with Fannie Mae and Freddie Mac mortgages bigger than their property’s worth must wait for the companies and their regulator to assess the possible “unintended consequences” of allowing them to refinance into lower payments and related “hurdles,” Federal Housing Finance Administration Director James Lockhart said. (Wed, 04 Feb 2009 17:00:07 GMT)
UPDATE 1-U.S. mortgage applications up as refinancing jumps
NEW YORK, Feb 4 (Reuters) - U.S. mortgage applications rose in the last week of January, reflecting strong demand for home refinancing loans even as interest rates rose to their highest levels since early December, industry data showed on Wednesday. (Wed, 04 Feb 2009 17:03:03 GMT)
Mortgage Rates, Refinancing Applications Rise
The Mortgage Bankers Association's weekly survey was released Wednesday. (Wed, 04 Feb 2009 17:15:09 GMT)
Mortgage Refinancing Change Faces Hurdles, FHFA Says (Update1)
Feb. 4 (Bloomberg) -- Homeowners with Fannie Mae and Freddie Mac mortgages bigger than their property’s worth must wait for the companies and their regulator to assess the possible “unintended consequences” of allowing them to refinance into lower payments and related “hurdles,” Federal Housing Finance Agency Director James Lockhart said. (Wed, 04 Feb 2009 18:14:39 GMT)
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