Mortgage News Feb 2009

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Window open till Dec. 1 for home buyers' tax credit
Stimulus bill increases the incentive to $8,000 and removes the all-important repayment requirement. Now that Congress has fixed the crucial flaw in last year's home-purchase tax credit, who will be able to make use of the new and improved version? And what about timing: How long do buyers have to find a house and close the deal to qualify? (Sun, 22 Feb 2009 02:57:23 GMT)

Hockey deflects blame on Coalition for home loan pain
The Federal Opposition has rejected the suggestion that the previous Coalition government is to blame for homebuyers who have been locked into high fixed term interest rates. (Sun, 22 Feb 2009 03:15:00 GMT)

Low Mortgage Rates Will Cost You
Mortgage rates are low, but getting a home loan will still cost you thanks to new rules by Freddie Mac and Fannie Mae. (Sun, 22 Feb 2009 03:41:17 GMT)

Appeal set in mortgage flipping case
JACKSON — A New Orleans appeals court is scheduled to hear arguments in March from three people convicted in a mortgage-fraud scheme in Mississippi. (Sun, 22 Feb 2009 05:14:53 GMT)

Hockey deflects blame on Coalition for home loan pain
The Federal Opposition has rejected the suggestion that the previous Coalition government is to blame for home owners who have been locked into high fixed term interest rates. (Sun, 22 Feb 2009 06:07:24 GMT)

Federal plan may forestall foreclosures
Some homebuyers and homeowners may benefit from the stimulus package and another plan aimed at preventing foreclosures. The Homeowner Affordability and Stability Plan unveiled Wednesday aims to help those struggling to pay or a refinance a mortgage. (Sun, 22 Feb 2009 07:17:06 GMT)

Crystal awards CDBG funding for home improvement loans, senior transport
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Sun, 22 Feb 2009 08:15:46 GMT)

U.S. describes alleged Sacramento-area mortgage fraud
Lawrence "Lee" Loomis still lives in his $1.9 million Granite Bay home, but Loomis Wealth Solutions, whose alleged worth fell from $10 million to $1,700, is now closed. The largest mortgage fraud case in the history of the Sacramento region is playing out in federal court this month, amid allegations that a Roseville firm fleeced hundreds of investors nationwide for at least $100 ... (Sun, 22 Feb 2009 08:20:11 GMT)

In our opinion: Mortgage relief necessary, unfortunately
The goal of the Obama administration's $75 billion mortgage relief plan is to keep as many as 9 million Americans from losing their homes to foreclosure. (Sun, 22 Feb 2009 08:24:40 GMT)

Keep records of extra mortgage payments
Q: I was reading in one of your columns about paying off your mortgage faster by making an extra payment each year. You said to make sure your coupon clearly indicates you are making an extra payment. I did this at the end of 2008, but didn't know whether it... (Sun, 22 Feb 2009 08:25:58 GMT)

Mortgage rates fall again
Rates on 30-year-fixed mortgages fell last week, declining along with bond yields amid easing concerns over inflation due to the still-slowing economy, Freddie Mac said last week. The average rate on a 30-year fixed mortgage dropped to 5.04 percent last week... (Sun, 22 Feb 2009 08:27:09 GMT)

Consumer Loan Rates
Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat. (Sun, 22 Feb 2009 09:04:25 GMT)

Family allowed to remain in home as mortgage fraud case proceeds
Question: Whatever happened to Debbie Aurelio and her family, who lost title to their Ewa Beach home and faced eviction after allegedly being swindled by mortgage scammers? (Sun, 22 Feb 2009 11:41:27 GMT)

HOW B'KLYN WOMAN KEPT HER HOME
Aquila Rose got a $475,000 mortgage from Fremont Investment & Loan for her Flatbush home in January 2007 and made exactly one payment before defaulting. When Fremont started a foreclosure action on Oct. 15 that year, it seemed like a slam dunk -... (Sun, 22 Feb 2009 11:52:12 GMT)

THE LOAN RANGER
While the Obama administration battles to keep people from losing their homes, one Florida lawyer said she has a better answer to the toxic mortgage epidemic sweeping the country - fight back against the loan servicers and banks that are improperly... (Sun, 22 Feb 2009 11:52:32 GMT)

A national Mortgage Strike
This is a discussion on A national Mortgage Strike within the Economy forums, part of the Topical Discussion category on Politics.ie . Originally Posted by yehbut_nobut 1) Mine isn't 2) It's not about not paying ever - it's about witholding repayments to ... (Sun, 22 Feb 2009 11:57:10 GMT)

Mortgage fraud schemer awaits sentence
MANSFIELD -- A man facing prison after pleading guilty to mortgage fraud scheme could get a lesser sentence for cooperating with the U.S. District Attorney's office on related prosecutions. (Sun, 22 Feb 2009 12:04:36 GMT)

Walking away from mortgage more common despite pitfalls
Benjamin McNelley said he loathed the idea of walking away from the mortgage on his four-bedroom house in Fauquier County, Va. (Sun, 22 Feb 2009 13:22:16 GMT)

SBI’s interest scheme to trigger home loans runs into a cautious market
COMMENT ON THIS ! Your Views! Home loan borrowers in the eastern metropolis may have a reason to smile: the country’s largest lender, the State Bank of India, has introduced an interest subvention scheme that hopes to trigger sales, (and not prices) in the badly-bruised real estate sector. (Sun, 22 Feb 2009 15:05:19 GMT)

Woman Sentenced To Prison In Mortgage Scam
SAN ANTONIO -- A San Antonio woman convicted with her husband of bilking mortgage lenders out of $1.67 million has been sentenced to more than six years in prison. (Sun, 22 Feb 2009 15:23:32 GMT)

How to stay afloat if your mortgage is worth more than your house
Paying down debt faster is a good idea only after building up savings Homeowners who bought at the peak of the real estate bubble may now be facing one nagging question: Should they try to pay down their mortgage faster? (Sun, 22 Feb 2009 15:25:33 GMT)

HUD's Donovan defends mortgage relief
Housing and Urban Development Secretary Shaun Donovan defended the Obama administration’s mortgage relief plan, arguing it could help as many as 5... (Sun, 22 Feb 2009 16:46:53 GMT)

Is Now a Good Time to Refinance Your Mortgage?
Mortgage rates continue to drop and 30-year fixed mortgages are averaging just over 5%. These rates are significantly lower than just a few years ago, so those of you who... (Sun, 22 Feb 2009 16:50:15 GMT)

Real Estate: Mortgage fees go up as rates go down, so watch the bottom line
Mortgage rates are low, but getting them is going to cost you. (Sun, 22 Feb 2009 17:47:28 GMT)

Decline father-in-law as mortgage broker
My father-in-law has proposed that he become our mortgage broker. (Sun, 22 Feb 2009 18:32:36 GMT)

Appeal to be heard in Laurel mortgage flipping
A New Orleans appeals court is scheduled to hear arguments in March from three people convicted in a mortgage fraud scheme in Mississippi. The case involved alleged ringleader Richard Lucas and two others who were sentenced for their roles in the mortgage flipping scheme. (Sun, 22 Feb 2009 20:19:46 GMT)

N Rock to launch mortgage sales drive
Northern Rock is to embark on a £14bn mortgage sales drive to resuscitate Britain’s sluggish housing market, fuelled by a hefty injection of fresh government funding for the state-owned lender to be announced on Monday. (Sun, 22 Feb 2009 22:13:31 GMT)

Rock to revive mortgage lending
Nationalised bank Northern Rock is to revive its mortgage business by taking on up to £14bn in new loans by 2011. (Sun, 22 Feb 2009 22:19:31 GMT)

Northern Rock plans new mortgage lending
State-owned Northern Rock bank plans to increase its mortgage lending by up to 14 billion pounds over the next two years, a Treasury official said on Sunday. (Sun, 22 Feb 2009 22:38:00 GMT)

Bid to boost mortgage market with £14bn deal for lending
Northern Rock, the state-owned bank, is to make a major return to the mortgage market with an increase in lending of up to £14bn in the next two years, the Treasury announced last night. (Mon, 23 Feb 2009 00:07:33 GMT)

Nationalized UK bank to expand mortgage book
Britain's government is throwing nationalized lender Northern Rock back into the home loan business in a bid to spur the market for mortgages, a government official said Sunday. (Mon, 23 Feb 2009 01:05:59 GMT)

Put retirement nest egg first, then pay loan or build savings
Dear Liz: We have about $800 extra each month after paying bills, but we aren't sure we're doing the right thing with it. Should we pay down our adjustable-rate, maxed-out home equity line of credit? Or do we put it toward our savings, which has only $5,000 right now? (Mon, 23 Feb 2009 02:19:06 GMT)

UK & World News: Rock plans £14bn mortgage lending
An additional £14 billion in mortgage lending over the next two years by the nationalised Northern Rock bank is expected to be announced. (Mon, 23 Feb 2009 03:04:31 GMT)

Rock plans £14bn mortgage lending
An additional £14 billion in mortgage lending over the next two years by the nationalised Northern Rock bank is expected to be announced. It is understood the bank will make an extra £5 billion in loans this year with a further £9 billion in 2010. (Mon, 23 Feb 2009 03:30:47 GMT)

Fitch: Australia Bks Well Placed To Handle Mortgage Defaults
SYDNEY -(Dow Jones)- Australia's banks are well placed to handle a rise in household mortgage defaults but their ability to secure funding remains vulnerable to shocks, Fitch Ratings said Monday. (Mon, 23 Feb 2009 03:48:06 GMT)

Refinancings offer lift to home-loan market
The more creative home lending packages available just a year ago may be a thing of the past, but mortgage companies in San Antonio are still booking loans. (Mon, 23 Feb 2009 05:11:59 GMT)

Rwanda: KCB to Venture Into Mortgage Financing in Country
Kigali — Rwanda's mortgage industry is not fully exploited with only two banks, Commercial Bank of Rwanda (BCR) and the Rwanda Housing bank as the main players. (Mon, 23 Feb 2009 07:11:40 GMT)

Is refinancing your mortgage a viable option?
Refinancing a mortgage usually comes down to one simple question -- is it financially beneficial for you to do so? This requires a few pieces of information, and you must weigh the immediate and long-term benefits. (Mon, 23 Feb 2009 08:06:20 GMT)

Crystal awards CDBG funding for home improvement loans, senior transport
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Mon, 23 Feb 2009 08:10:25 GMT)

Northern Rock to ramp up mortgage lending
Nationalised bank Northern Rock plans to ramp up its mortgage lending over the next two years as part of a new set of measures by the Government to pull the economy from a deep recession. (Mon, 23 Feb 2009 08:19:35 GMT)

Nationalized UK bank to expand mortgage book
Britain's government will let nationalized lender Northern Rock increase its home loan business in a bid to spur the mortgage market, the Treasury chief said Monday. (Mon, 23 Feb 2009 08:55:27 GMT)

Alistair Darling: Northern Rock to resume new mortgage lending
Alistair Darling says that Northern Rock will resume new mortgage lending as a stateowned "good bank". (Mon, 23 Feb 2009 09:14:12 GMT)

Mortgage fees go up as rates go down, so watch the bottom line
Mortgage fees go up as rates go down, so watch the bottom line (Mon, 23 Feb 2009 09:16:18 GMT)

Henderson to extend Coventry loan
On-loan winger Jordan Henderson hopes to stay at Coventry City until the end of the season. (Mon, 23 Feb 2009 09:49:54 GMT)

Mortgage 2000 exits mortgage sourcing
Mortgage 2000 is exiting the mortgage sourcing market and transferring users to Mortgage Brain. ... (Mon, 23 Feb 2009 10:59:48 GMT)

Northern Rock to re-enter home loan market
Northern Rock lost £1.4bn last year as it announced it would increase its existing government loan to help fund £14bn of new mortgage lending and kick start the housing market. (Mon, 23 Feb 2009 12:04:01 GMT)

Fed May Need to Recast TALF to Revive Commercial Real Estate
Feb. 23 (Bloomberg) -- The Federal Reserve may need to loosen the terms of a new $1 trillion credit initiative aimed at averting a meltdown in commercial mortgage-backed securities, analysts and industry representatives said. (Mon, 23 Feb 2009 12:37:43 GMT)

Northern Rock relaunched to boost mortgage market
NORTHERN Rock will today be re-launched as a ‘good bank’ with around £14bn to boost mortgage lending. (Mon, 23 Feb 2009 12:41:03 GMT)

Northern Rock announces £1.4bn loss as it makes return to mortgage market with 90% deals
Northern Rock today announced it faces a £1.4billion loss for 2008 as it returned to the mortgage market with loans of up to 90 per cent. (Mon, 23 Feb 2009 12:41:57 GMT)

Northern Rock scraps executive bonuses as bank resumes new mortgage lending
Northern Rock executives are to have their cash bonuses scrapped and pay frozen as part of the nationalised bank's plan offer up to £14bn in new mortgage lending. (Mon, 23 Feb 2009 12:44:33 GMT)

Wealth beats frugality
Most nights when the phone rings, I can count on hearing a salesman's well-oiled pitch to sell me credit, or credit cards, or lines of credit or a mortgage refinancing deal. (Mon, 23 Feb 2009 13:47:44 GMT)

Mortgage Rates Level Off This Week
Capping a steady climb since mid-January, interest rates on 30-year fixed-rate mortgages (FRMs) shed 0.14 percentage points this week to an average of 5.33%, according to the BankingMyWay.com Rate Index. (Mon, 23 Feb 2009 15:16:41 GMT)

Bolasie extends Barnet loan deal
Barnet secure the services of on-loan Plymouth winger Yannick Bolasie for a further month. (Mon, 23 Feb 2009 15:37:41 GMT)

HSBC mortgage applications double
HSBC today said its mortgage applications had doubled during February as it launched two new longer-term fixed rate deals. (Mon, 23 Feb 2009 15:48:45 GMT)

HSBC mortgage applications double
HSBC has said its mortgage applications had doubled during February as it launched two new longer-term fixed rate deals. The group attributed the doubling in application requests from levels recorded during the previous month to the introduction of its 2.99% two-year fixed rate mortgage. (Mon, 23 Feb 2009 16:35:52 GMT)

Scooter Accident Kills Mortgage Broker
A Fort Collins developer and mortgage broker has been killed in a motor scooter accident. (Mon, 23 Feb 2009 16:47:58 GMT)

REAL ESTATE: Mortgage Fees Go Up As Rates Go Down, So Watch The Bottom Line
CHICAGO (Dow Jones) -- Mortgage rates are low, but getting them is going to cost you. New rules by Freddie Mac and Fannie Mae are upping the fees for borrowers with less than perfect credit, those in the mortgage industry say. (Mon, 23 Feb 2009 16:50:05 GMT)

Laurel woman obtains dream of home ownership
Friday, February 13, 2009 was not a day of superstition day for Annie Buckhalter. It was the day that she had been hoping and praying for; the day that she finalized and closed her home loan application. Buckhalter’s home will be built on South 19th Street by Ridgeway Construction Company. (Mon, 23 Feb 2009 18:04:28 GMT)

£14billion Northern Rock mortgage deal will not help first time buyers
Northern Rock will not try to help firsttime buyers as part of a £14 billion package of new mortgage lending. (Mon, 23 Feb 2009 18:15:11 GMT)

Obama Mortgage Plan Reflects ‘Denial,’ JPMorgan Says (Update1)
Feb. 23 (Bloomberg) -- Investors should avoid subprime- mortgage bonds because the Obama administration’s $75 billion home-loan plan, focused on lowering payments and not principal, is unlikely to succeed, according to JPMorgan Chase & Co. (Mon, 23 Feb 2009 18:45:26 GMT)

Mortgage lending falls by 50%
Mortgage lending fell to £12.4bn in January, a drop of 52% compared with the same month last year, figures showed today. The Council of Mortgage Lenders (CML) said total gross lending last month was at its lowest level since April 2001 after falling by 8% from December to January. Last week, the CML said the number of mortgages taken out by people buying a home had reached a 34-year low ... (Mon, 23 Feb 2009 18:53:26 GMT)

Toll Brothers program covers mortgage for new buyers who lose jobs
High-end homebuilder Toll Brothers Inc. is offering a mortgage protection plan that will cover a buyer’s mortgage for up to six months if there is a job loss, the company said. (TOL) (Mon, 23 Feb 2009 19:10:27 GMT)

Mortgage lending slows at Northern Trust
Northern Trust Corp. continues to make new consumer mortgages, but the pace of residential loan originations at the Chicago-based institution has slowed in recent months, according to the first monthly survey released by the U.S. Treasury into lending trends at the 20 biggest recipients of government funds. (Mon, 23 Feb 2009 19:40:35 GMT)

Northern Rock to lift lending
Northern Rock, the mortgage bank taken over by the British government last year, said Monday it would increase its home loan business, part of the government's effort to stimulate the country's depressed housing market. (Mon, 23 Feb 2009 19:42:57 GMT)

The Hindu Business Line : Home loan frauds haunting public sector banks
Bankers say that if one considers the PSBs home loan push in 2007, 2008 and 2009, the home loan fraud could now be in the region of Rs 1,000 crore. Mumbai, Feb. 23 When the economy is in fine fettle, banks develop the proclivity to let their guard down. (Mon, 23 Feb 2009 20:13:02 GMT)

U.S. Attorney leading crackdown on mortgage fraud in Maryland
U.S. Attorney Rod J. Rosenstein announced an ambitious effort Friday to crack down on mortgage fraud, combining people and information from federal, state and local agencies to share information and prosecute the network of mortgage industry firms preying upon unwitting homeowners. (Mon, 23 Feb 2009 20:22:26 GMT)

US House Mortgage 'Cram-Down' Bill Lacks Obama Restrictions
WASHINGTON -(Dow Jones)- Strapped homeowners won't need to prove they complied with requests for basic information from their mortgage servicer before having their mortgage debts reduced by a bankruptcy judge, under legislation heading for a U.S. House vote this week. (Mon, 23 Feb 2009 22:18:18 GMT)

Home Federal Savings and Loan Association Appoints New President and Chief Operating Officer
SHREVEPORT, La.----Home Federal Bancorp, Inc. of Louisiana , the "mid-tier" holding company of Home Federal Savings and Loan Association , announced today the appointment of James R. (Mon, 23 Feb 2009 22:39:00 GMT)

Obama Mortgage Plan Reflects ‘Denial,’ JPMorgan Says (Update1)
Feb. 23 (Bloomberg) -- Investors should avoid subprime- mortgage bonds because the Obama administration’s $75 billion home-loan plan, focused on lowering payments and not principal, is unlikely to succeed, according to JPMorgan Chase & Co. (Mon, 23 Feb 2009 22:56:37 GMT)

Jumbo Mortgages, Jumbo Headaches
Washington is trying to ease the mortgage crisis by helping people refinance home loans, but one group is being left out: borrowers with loans too big to qualify for government backing. (Tue, 24 Feb 2009 02:47:16 GMT)

HDFC is charging around 2% if a borrower prepays the loan within three years of disbursement.
Mortgage giant HDFC has made it expensive for home borrowers choosing to switch over to another bank. The institution has started charging borrowers up to 3% of the outstanding loan if they decide to prepay their loans by borrowing from another lender. (Tue, 24 Feb 2009 03:18:38 GMT)

Mortgage industry sees increasing demand
RALEIGH – The housing market might still be struggling, but business is booming for the mortgage industry. With interest rates low, many homeowners are refinancing their mortgage to save money. That has mortgage companies working around the clock to keep up with skyrocketing demand. (Tue, 24 Feb 2009 03:24:50 GMT)

How To Protect Your Mortgage
Low interest rates. Cash out at 95 percent. Late payments accepted on your mortgage. Deceptive sales tactics may get you in over our head when it comes to paying for... (Tue, 24 Feb 2009 03:44:24 GMT)

Chillicothe Council Opens Door For Mortgage Crisis Funds
The funds authorized in October from the federal program to counter the mortgage crisis, the " Neighborhood Stabilization Program ," are finally coming to Chillicothe. (Tue, 24 Feb 2009 03:45:42 GMT)

Carlsbad Real Estate Group cleared in mortgage probe
The Colorado Division of Real Estate has completed its investigation of California-based Carlsbad Real Estate Group, and found "no discernible evidence" that the company had violated Colorado mortgage broker law. (Tue, 24 Feb 2009 04:20:27 GMT)

Obama’s Mortgage Plan for Fannie, Freddie May Face Legal Snag
Feb. 24 (Bloomberg) -- President Barack Obama’s plan to use mortgage-finance companies Fannie Mae and Freddie Mac to refinance as many as 5 million loans may face legal challenges over whether the administration is overstepping its authority. (Tue, 24 Feb 2009 05:00:01 GMT)

Maiden & Bennett to Hold Refinancing Seminar
The Law Offices of Maiden & Bennett and local lending and refinancing professionals will present a free public seminar titled “Is Refinancing Righ.... (Tue, 24 Feb 2009 06:04:55 GMT)

Family to sell cave home on eBay
A Missouri family says the credit crunch has forced them to put up for sale the 17,000-square-foot home they created in a cave.Curt Sleeper told the St. Louis Post-Dispatch he and his family, like so many others, are victims of the credit crunch. He has been unable to obtain mortgage refinancing for the cave.We don't want to move, he said. But we need to protect our equity. We put everything we ... (Tue, 24 Feb 2009 07:04:03 GMT)

Crystal awards CDBG funding for home improvement loans, senior transport
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Tue, 24 Feb 2009 07:41:08 GMT)

VA Loan Desk Launches Eye in the Storm Blogs From War Veterans and Creates an Online Sensation
VA Loan Desk is not only making waves online with its efforts to offer American war veterans secure financial loans to purchase or refinance a home, but now they are streamlining mouthwatering blogs written by infantrymen returning from the front lines of today's troubled regions around the world. (Tue, 24 Feb 2009 08:00:00 GMT)

Home 'saviors' can make a mortgage mess
Ferdinand Bristol, owner of a small home-repair business, lost most of his livelihood in the housing crash and feared his small home on Dewey Street in Hollywood would be next. After seeing a television ad, he turned to Outreach Housing, which enrolled him in a plan that reduced his mortgage payment by almost $500 a month. (Tue, 24 Feb 2009 08:20:59 GMT)

Mortgage approvals up in January
The number of mortgage approvals across the UK rose slightly in January, says the British Bankers' Association. (Tue, 24 Feb 2009 09:52:13 GMT)

January Mortgage Lending Down By A Fifth
Mortgage lending fell by more than a fifth during January but there was a slight increase in the number of mortgages approved for house purchase, new figures show. (Tue, 24 Feb 2009 10:31:00 GMT)

Divorcing wife discovers loan for $150,000
How's this for a nasty divorce tactic: Take your estranged spouse's ID and have someone else use it to obtain a $150,000 loan. That's what authorities say happened in Warren County's Hamilton Township. (Tue, 24 Feb 2009 10:32:30 GMT)

Mortgage approvals rise in January
UK mortgage approvals rose slightly in January as banks granted 23376 loans for house purchases industry figures have revealed. (Tue, 24 Feb 2009 10:44:12 GMT)

CORRECT:UK Jan Net Mortgage Lending +GBP2.9B Vs Dec +GBP3.3B
("*UK Jan Net Mortgage Lending GBP2.9B Vs Dec GBP3.3B - BBA," and "*UK Jan Net Mortgage Lending GBP2.9B Vs Dec GBP3.3B - BBA," published 0930 GMT, and "=DATA SNAP: UK Jan Net Mtge Lending GBP2.9B Vs Dec GBP3.3B-BBA," published 0934 GMT, failed to say that mortgage lending had increased by the amounts specified in the headlines. (Tue, 24 Feb 2009 10:46:54 GMT)

Mortgage approvals up again
Mortgage approvals rose a little in January, the second monthly improvement in a row, although the figure was still 43% lower than the same time last year. (Tue, 24 Feb 2009 11:01:00 GMT)

Mortgage lending up and savings down
Mortgage lending rose in January – although growth is still slowing – while savings levels dropped. (Tue, 24 Feb 2009 11:33:49 GMT)

UK Mortgage Approvals Increase In January
(RTTNews) - The number of mortgage approvals for house purchase increased to 23,376 in January from 22,416 recorded in the previous month, the British Bankers' Association said Tuesday. (Tue, 24 Feb 2009 11:47:48 GMT)

Weak retail market hurts General Growth's results
Shopping mall owner General Growth Properties Inc., which is struggling to stave off bankruptcy and refinance billions in debt, on Monday reported lower-than-expected fourth-quarter funds from operations, as the weak economy crimped retail rents. (Tue, 24 Feb 2009 11:50:14 GMT)

FHA Refinance Specialist Residential Finance Corp. Explains How Obama's Stimulus Plan May Affect Your Mortgage
COLUMBUS, Ohio----Now that President Barack Obama's $787 Billion Economic Stimulus Bill has been signed into law and will take effect on March 4, many American homeowners are anxiously wondering how this bill may affect the housing market. (Tue, 24 Feb 2009 13:00:00 GMT)

Jumbo mortgages, jumbo headaches
(From The Wall Street Journal ) Washington is trying to ease the mortgage crisis by helping people refinance into home loans with better terms. But one group is being left on the sidelines: borrowers with loans too big to qualify for government backing. ( Registration required ) (Tue, 24 Feb 2009 14:12:55 GMT)

Home Economy: Refinancing 101
Did you refinance your mortgage during the days when credit was free and easy, when offers to “unlock” the value of your home arrived on nearly a daily basis? (Tue, 24 Feb 2009 15:37:58 GMT)

Final Week to Submit Applications. After Deadline, Money Will Go Unclaimed. Shore Mortgage 'We Understand' Program, ...
Shore Mortgage, a Michigan-based lender specializing in conventional loans for the past 25 years, today announced the final week of the company's own economic stimulus program that benefits the "forgotten" yet conscientious homeowner who is current with their financial obligations and who applies for the money for his/her primary residence. (Tue, 24 Feb 2009 16:13:00 GMT)

Home prices post record annual decline in 4th qtr.
Home prices tumbled by the steepest annual rate on record in the fourth quarter, two housing indexes showed Tuesday, and the pace of decline continued to gain speed in all but a handful of battered cities. (Tue, 24 Feb 2009 16:45:07 GMT)

(AFX UK Focus) 2009-02-24 16:43 UPDATE 1-US home prices post record Q4 drop, edge up in Dec-FHFA
NEW YORK, Feb 24 (Reuters) - Prices on U.S. single-family homes dropped a record 4.5 percent last quarter from a year earlier, though the pace of depreciation slowed, the Federal Housing Finance Agency said on Tuesday. The FHFA index that measures loan refinancings and home sales, which includes data back to 1975, dipped 0.2 percent in the latest quarter, the regulator said in a statement. Its ... (Tue, 24 Feb 2009 17:04:31 GMT)

(AFX UK Focus) 2009-02-24 16:43 UPDATE 1-US home prices post record Q4 drop, edge up in Dec-FHFA
NEW YORK, Feb 24 (Reuters) - Prices on U.S. single-family homes dropped a record 4.5 percent last quarter from a year earlier, though the pace of depreciation slowed, the Federal Housing Finance Agency said on Tuesday. The FHFA index that measures loan refinancings and home sales, which includes data back to 1975, dipped 0.2 percent in the latest quarter, the regulator said in a statement. Its ... (Tue, 24 Feb 2009 17:05:34 GMT)

Home prices post record annual decline in 4Q
Home prices tumbled by the steepest annual rate on record in the fourth quarter, two housing indexes showed Tuesday, and the pace of decline continued to gain speed in all but a handful of battered cities. (Tue, 24 Feb 2009 17:10:24 GMT)

Chillicothe Council Opens Door For Mortgage Crisis Funds
The funds authorized in October from the federal program to counter the mortgage crisis, the " Neighborhood Stabilization Program ," are finally coming to Chillicothe. (Tue, 24 Feb 2009 17:21:13 GMT)

Mortgage approvals up again
LONDON (SHARECAST) - Mortgage approvals rose a little in January, the second monthly improvement in a row, although the figure was still 43% lower than the same time last year. (Tue, 24 Feb 2009 18:01:00 GMT)

Upstate Young Republicans Plan Tea Party To Protest Mortgage Bailout
The Upstate Young Republicans are planning a tea party on the Reedy River on Friday, February 27. It’s part of a nationwide event after CNBC reporter Rick Santelli called for a Chicago Tea Party to protest the Obama administration’s mortgage bailout plan. (Tue, 24 Feb 2009 18:01:18 GMT)

For Mortgages, Paying Extra Doesn't Always Pay Off
Knocking a couple of years' worth of interest off your mortgage by making prepayments can save you a lot of money in the long run. But if you're planning to refinance your mortgage, consider skipping those prepayments and using that extra money to cover the refinance's upfront closing costs. (Tue, 24 Feb 2009 18:04:46 GMT)

Federal Home Loan Bank of Indianapolis Announces 2008 Fourth Quarter Financial Results
INDIANAPOLIS, Feb. 24, 2009 -- On February 24, 2009, the Federal Home Loan Bank of Indianapolis released its unaudited financial results for the quarter ended December 31, 2008. Net income increased to $45.3 million for the fourth quarter of 2008, compared to $37.9 million for the fourth quarter of 2007. (Tue, 24 Feb 2009 20:53:49 GMT)

Home prices post record annual decline in 4Q
Home prices tumbled by the worst annual rate on record in the fourth quarter, two housing indexes showed Tuesday, and the slope of decline steepened in all but a handful of battered cities. (Tue, 24 Feb 2009 21:26:38 GMT)

Fannie, Freddie Should Relax Loan-Modification Rules, FHFA Says
Feb. 24 (Bloomberg) -- Fannie Mae and Freddie Mac need to relax rules for a loan-modification program that promised to cut mortgage interest rates and lengthen terms for troubled borrowers, the chief economist for the companies’ regulator said. (Tue, 24 Feb 2009 21:56:42 GMT)

Recession makes cave-dwellers sell on eBay
Curt Sleeper and his family live in a Missouri cave. His mortgage has come due and he's trying to refinance. Because of the recession, they've put the cave on eBay. (Tue, 24 Feb 2009 22:36:17 GMT)

Congress Looks at Mortgage Modification Plans
In an effort to stem the rising foreclosure rate plaguing the economy, a House committee met today to learn more about the steps mortgage servicers are taking to assist homeowners. (Tue, 24 Feb 2009 23:12:26 GMT)

Mortgage Choice takes profit hit
MORTGAGE Choice reported a 22 per cent fall in profit as the listed home loan broker was effected by the slowing economy and housing finance sector. (Tue, 24 Feb 2009 23:14:00 GMT)

Mortgage Choice profit falls 22% as housing finance slows
Mortgage Choice has reported a 22% fall in profit as the listed home loan broker was affected by the slowing economy and housing finance sector. (Wed, 25 Feb 2009 00:32:18 GMT)

B.C.'s Plummeting Home Values Affect Eligibility for Lower Interest Rates
With interest rates at an all time low, mortgage brokers are being inundated with calls from optimistic homeowners looking to refinance at lower rates. Unfortunately a 10 to 15 per cent plunge in B.C.'s real estate market over the past year means refinancing to take advantage of lower interest rates is impossible for some. (Wed, 25 Feb 2009 00:37:00 GMT)

Housing slowdown wipes 22pc off Mortgage profits
The home loan brokerage firm Mortgage Choice has reported a 22 per cent fall in profit because of the slowdown in the housing sector and broader economy. (Wed, 25 Feb 2009 01:37:00 GMT)

State seeks to expand mortgage help
HARTFORD -- State lawmakers are trying to expand on last year's Emergency Mortgage Assistance Program, which helped 15,000 state homeowners avoid foreclosure. (Wed, 25 Feb 2009 02:11:12 GMT)

Home Loan Bank sees 12% profit drop
The Federal Home Loan Bank of Cincinnati today reported a 12 percent decline in profit to $236 million in 2008, compared with $269 million in 2007. (Wed, 25 Feb 2009 02:31:30 GMT)

Home mortgage relief for millions of illegals
Illegal aliens can apply for mortgage relief under the Obama administration's $275 billion plan, according to immigration experts and a group the government will use to help homeowners modify loans. (Wed, 25 Feb 2009 02:45:31 GMT)

Home mortgage relief for millions of illegals
Illegal aliens can apply for mortgage relief under the Obama administration's $275 billion plan, according to immigration experts and a group the government will use to help homeowners modify loans. (Wed, 25 Feb 2009 02:47:05 GMT)

FACT CHECK: Obama's pledge to deny mortgage aid to undeserving seems at odds with the program
WASHINGTON - President Barack Obama's assurance Tuesday that his mortgage-relief plan will only benefit deserving homeowners appears to be a stretch. (Wed, 25 Feb 2009 03:26:50 GMT)

FACT CHECK: Obama's pledge to deny mortgage aid to undeserving seems at odds with the program
WASHINGTON (AP) — President Barack Obama 's assurance Tuesday that his mortgage-relief plan will only benefit deserving homeowners appears to be a stretch. (Wed, 25 Feb 2009 03:54:40 GMT)

Credit key to qualifying for home loan, instructor says
Though sound credit has always been important for first-time home buyers, a presenter said Tuesday, in the current economy those without good credit will find it’s nearly impossible to obtain a mortgage. (Wed, 25 Feb 2009 04:12:20 GMT)

Mortgage fraud suspect pleads not guilty
A Bethel Park man with ties to would-be Pittsburgh developer Bernardo Katz pleaded innocent Tuesday in federal court to participating in a mortgage fraud scheme. (Wed, 25 Feb 2009 05:03:01 GMT)

Mortgage redraw
Will redrawing the excess I've paid on my mortgage any tax implications when it does become an investment property? (Wed, 25 Feb 2009 05:08:08 GMT)

RBS and Lloyds 'will pledge to increase mortgage lending by £40bn'
RBS and Lloyds will this week pledge to increase new mortgage lending by more than £40bn as part of thelatest bank. (Wed, 25 Feb 2009 06:07:11 GMT)

Obama Stimulus and Housing Rescue Will Now Benefit Credit Loan Customers
Recently approved stimulus and home loan rescue programs set in motion by President Obama promise help for Credit Loan users. (Wed, 25 Feb 2009 07:01:00 GMT)

Crystal awards CDBG funding for home improvement loans, senior transport
Senior transportation and home improvement loan programs will benefit from this year's round of Community Development Block Grant funding in Crystal. (Wed, 25 Feb 2009 07:33:02 GMT)

Credit key to qualifying for home loan, instructor says
Though sound credit has always been important for first-time home buyers, a presenter said Tuesday, in the current economy those without good credit will find it’s nearly impossible to obtain a mortgage. (Wed, 25 Feb 2009 07:57:27 GMT)

Obama Stimulus and Housing Rescue Will Now Benefit Credit Loan Customers
Recently approved stimulus and home loan rescue programs set in motion by President Obama promise help for Credit Loan users. (PRWeb Feb 25, 2009) Read the full story at http://www.prweb.com/releases/20 (Wed, 25 Feb 2009 08:13:47 GMT)

What percentage of your income should be spent on your mortgage?
Under its new mortgage- relief plan, the Obama administration is staking a claim that most homeowners facing foreclosure should be able to pay 31 percent of their gross income for a mortgage. (Wed, 25 Feb 2009 08:27:42 GMT)

Miami man cleared of mortgage fraud
A Miami man who invested in a condo at a luxury waterfront high-rise was acquitted by a federal jury of conspiring in a $58 million mortgage fraud ring. (Wed, 25 Feb 2009 08:30:23 GMT)

Woman gets home detention for aiding mortgage fraud
STOCKTON - A federal judge has sentenced a 25-year-old Stockton woman to six months of home detention for her part in a mortgage fraud scheme, the U.S. Attorney's Office in Sacramento announced. (Wed, 25 Feb 2009 10:21:06 GMT)

Mortgage bankers respond to Obama plan
While the Mortgage Bankers Association agrees with the housing plan, they've also got suggestions. (Wed, 25 Feb 2009 11:00:00 GMT)

Mortgage bankers respond to Obama plan
Let people refinance their mortgages for a whole lot more than the house is worth, no matter who owns the loan. Loosen the money spigot even more. And tell homeowners to be patient, because it's going to take a while to refinance and modify every troubled mortgage. (Wed, 25 Feb 2009 11:44:59 GMT)

Mortgage applications fell 15.1% last week: MBA
Higher mortgage rates last week coincide with the volume of applications filed for home loans falling a seasonally adjusted 15.1% compared with the week before, Mortgage Bankers Association data show. (Wed, 25 Feb 2009 12:17:56 GMT)

Photographer Annie Leibovitz pawns her life's work for a £10m loan to pay her mortgage
Photographer Annie Leibovitz pawns her life's work for a £10m loan to pay her mortgage (Wed, 25 Feb 2009 12:32:36 GMT)

(AFX UK Focus) 2009-02-25 12:15 US mortgage applications down, led by refinancing
By Julie Haviv (Wed, 25 Feb 2009 12:34:41 GMT)

(AFX UK Focus) 2009-02-25 12:15 US mortgage applications down, led by refinancing
By Julie Haviv (Wed, 25 Feb 2009 12:35:27 GMT)

UPDATE: Mortgage Applications Fell 15.1% Last Week: MBA
CHICAGO (Dow Jones) -- Mortgage rates rose last week, coinciding with the volume of applications filed for home loans falling a seasonally adjusted 15.1% compared with the week before, the Mortgage Bankers Association said Wednesday. (Wed, 25 Feb 2009 12:48:24 GMT)

U.S. MBA’s Mortgage Applications Index Fell 15.1% Last Week
Feb. 25 (Bloomberg) -- Mortgage applications in the U.S. fell last week as higher borrowing costs tempered refinancing. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan decreased 15.1 percent to 743.5 in the week ended Feb. 20 from 875.3 in the prior week. (Wed, 25 Feb 2009 13:11:13 GMT)

Mortgage applications dip as rates rise
'People are still lacking the confidence to commit,' says expert. NEW YORK (Reuters) -- U.S. mortgage applications decreased last week, reflecting a sharp drop in demand for refinancing as mortgage rates ticked higher, an industry group said on Wednesday. (Wed, 25 Feb 2009 13:38:07 GMT)

(AFX UK Focus) 2009-02-25 13:45 STOCKS NEWS US-Mortgage applications fall, led by refinancing
Stocks on the move Real-Time Equity news U.S. stock market report (Wed, 25 Feb 2009 14:04:14 GMT)

Mortgage Applications Slump Over 15 Percent
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume slid over 15 percent last week, as the refinance index slumped over 19 percent and interest rates increased across the board. (Wed, 25 Feb 2009 14:04:17 GMT)

US Mortgage Applications Down, Led by Refinancing
U.S. mortgage applications fell last week, reflecting a sharp drop in demand for refinancing as mortgage rates ticked higher, an industry group said on Wednesday. (Wed, 25 Feb 2009 14:10:59 GMT)

GE Money says some loan 'break fees' remain
GE Money says the fee it is waiving for New Zealand mortgage customers who wish to break their home loan agreements early is only one of a number that it charges, and others will still apply. In a statement issued last week the... (Wed, 25 Feb 2009 16:00:57 GMT)

Mortgage applications drop in week
The volume of applications for U.S. mortgages decreased last week, falling by a seasonally adjusted 15.1 percent, an industry group said.The Market Composite Index, which measures mortgage loan application volume, fell from 875.3 to 743.5 in the week ending Feb. 20, the Mortgage Bankers Association said in a release Wednesday.The Refinance Index also decreased, falling 19.1 percent to 3,618, the ... (Wed, 25 Feb 2009 16:08:33 GMT)

Federal Home Loan Bank of Atlanta to Award More Than $5.8 Million for Affordable Housing in North Carolina
Federal Home Loan Bank of Atlanta announced today that it will award more than $5.8 million to help finance 541 affordable housing units in North Carolina. (Wed, 25 Feb 2009 16:29:00 GMT)

(AFX UK Focus) 2009-02-25 16:10 UPDATE 1-US mortgage applications down, led by refinancing
By Julie Haviv (Wed, 25 Feb 2009 16:35:43 GMT)

Raleigh man sentenced to 7 years in mortgage fraud case
A Raleigh man has been sentenced to 84 months in prison for his role in a mortgage fraud scheme, the U.S. Attorney’s office in Raleigh says. (Wed, 25 Feb 2009 16:42:35 GMT)

Bay Area Residents In Mortgage Fraud Indictment
Four Bay Area residents have been named in a mortgage fraud indictment issued by a federal grand jury in Sacramento. (Wed, 25 Feb 2009 19:21:38 GMT)

Bangkok Post : No reduction in SCB mortgage loan rate
Siam Commercial Bank has no plans to cut its mortgage loan rates, even though interest rates continue to decline. (Wed, 25 Feb 2009 20:23:51 GMT)

Mortgage lenders blamed for financial crisis
A joint resolution that assigns blame for the current financial crisis to federal mortgage agencies (including one created during the depression era) and calling for a halt in any further federal "bailout" efforts passed a House legislative committee Wednesday morning. (Wed, 25 Feb 2009 20:24:47 GMT)

Mortgage Bankers Respond to Obama Plan
Let people refinance their mortgages for a whole lot more than the house is worth, no matter who owns the loan. Loosen the money spigot even more. And tell homeowners to be patient, because it's going to take a while to refinance and modify every troubled mortgage. (Wed, 25 Feb 2009 20:32:02 GMT)

What percentage of your income should be spent on your mortgage?
Under its new mortgage- relief plan, the Obama administration is staking a claim that most homeowners facing foreclosure should be able to pay 31 percent of their gross income for a mortgage. (Wed, 25 Feb 2009 20:56:36 GMT)

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