Mortgage News Jun 2009

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Banks take CBA lead on loan rates
Westpac and NAB follow CBA in lifting fixed-term home loan rates. (Mon, 15 Jun 2009 14:36:14 GMT)

Mortgage delinquencies grew in April
Mortgage delinquencies grew in April (Mon, 15 Jun 2009 15:11:31 GMT)

Mortgage Industry in Idaho Cleans House
Consider the present upheaval in the mortgage industry as a "sifting the chaff from the wheat" kind of process. With the impurities weeded out of the industry, the businesses and individuals still standing are stronger and more refined. (Mon, 15 Jun 2009 16:24:02 GMT)

Decline of Jumbo Loans Hurting Mortgage Lenders
MORTGAGE LENDERS AROUND he state agree that the $8,000 ax credit for first-time home-buyers is making a difference, although it will be a couple more months before they know just how much. (Mon, 15 Jun 2009 16:24:13 GMT)

Patience Required to Navigate Home Loan Refinance Process
Jun. 15--If you know you're headed for trouble with your mortgage or you already are there, brace yourself. (Mon, 15 Jun 2009 16:24:42 GMT)

Rising mortgage rates dampen home builder sentiment in June
Homebuilder sentiment slipped in June, a private survey showed Monday, as higher mortgage rates and an ongoing credit crunch damped expectations for the sector. (Mon, 15 Jun 2009 17:39:20 GMT)

Don't handcuff your mortgage
Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. (Mon, 15 Jun 2009 17:44:02 GMT)

Barclays Capital Hires Yarnold for Non-Agency Mortgage Credit
June 15 (Bloomberg) -- Barclays Capital, the securities arm of Barclays Plc , hired Adam Yarnold as a managing director to run its “ non-agency ” mortgage credit business. (Mon, 15 Jun 2009 17:52:21 GMT)

Mortgage-Bond Yields Fall for Third Day, Pointing to Rate Drop
Yields on Washington-based Fannie Mae’s current-coupon 30- year fixed-rate mortgage bonds dropped 0.17 percentage point to 4.75 percent as of 11:35 a.m. in New York, the low since June 3, data compiled by Bloomberg show. (Mon, 15 Jun 2009 18:38:57 GMT)

John Watson elected president of Texas Mortgage Bankers Assoc.
The Texas Mortgage Bankers Association has elected a new president for the 2009 to 2010 term, John Watson. Watson’s term started on May 6, when he was installed during the TMBA annual convention. (Mon, 15 Jun 2009 19:52:48 GMT)

Mortgage-Bond Yields Fall for Third Day, Pointing to Rate Drop
June 15 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell for a third day from the highest level since the Federal Reserve said it would buy home-loan bonds, suggesting interest rates on home loans may decline. (Mon, 15 Jun 2009 20:08:56 GMT)

Banks take CBA lead on raising home loan rates
Westpac and National Australia Bank have followed the Commonwealth Bank in lifting their fixed-term home loan rates in the wake of the storm unleashed by the country's largest lender raising the price of its standard variable mortgages. (Mon, 15 Jun 2009 20:31:57 GMT)

Mortgage-Bond Yields Fall for Third Day, Pointing to Rate Drop
June 15 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell for a third day from the highest level since the Federal Reserve said it would buy home-loan bonds, suggesting interest rates on home loans may decline. (Mon, 15 Jun 2009 20:37:47 GMT)

30-year Mortgage Rate Drops To 5.52 Percent
Interest rates on US 30-year fixed-rate mortgages fell to 5.52 percent late Monday after hovering at 5.67 percent on Friday, according to real estate Web site Zillow.com. (Mon, 15 Jun 2009 21:07:29 GMT)

Banks take CBA lead on loan rates
Westpac and NAB follow CBA in lifting fixed-term home loan rates. (Mon, 15 Jun 2009 21:11:42 GMT)

Don't handcuff your mortgage
Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. (Mon, 15 Jun 2009 21:25:18 GMT)

Mortgage lending licensing changing
Associated Press - June 15, 2009 6:05 PM ET OKLAHOMA CITY (AP) - A state official says the Oklahoma mortgage industry will soon be under a new regulatory system, providing better protection for... (Mon, 15 Jun 2009 22:23:04 GMT)

Mortgage lending licensing changing
OKLAHOMA CITY — A state official says the Oklahoma mortgage industry will soon be under a new regulatory system, providing better protection for consumers. (Mon, 15 Jun 2009 22:52:01 GMT)

AG holds mortgage fraud summit
The Texas Attorney General Greg Abbott noticed that in the current forclosure crisis, desperation has left many vulnerable to mortgage fraud. (Mon, 15 Jun 2009 23:04:29 GMT)

Westpac, NAB increased fixed home loan rates
Westpac and the National Australia Bank have followed the lead of the Commonwealth Bank by increasing the interest rate on their fixed home loans. Westpac’s one-year fixed term home loan has increased (Mon, 15 Jun 2009 23:40:57 GMT)

Issa seeks documents on VIP mortgage deals
The top Republican on the House Oversight panel is seeking all documents related to a high-profile VIP program at now-defunct mortgage lender... (Tue, 16 Jun 2009 00:43:50 GMT)

Don't handcuff your mortgage
Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. (Tue, 16 Jun 2009 04:58:43 GMT)

N.J. mortgage license means fees, classes, test
The only requirement to be a mortgage-loan sales person in New Jersey is payment of a $100 registration fee, but that will soon change. (Tue, 16 Jun 2009 05:32:49 GMT)

Mortgage lenders to increase fixed rate deals
Two of Britain's biggest mortgage lenders have announced they were increasing the cost of their fixed rate mortgage deals following steep rises in wholesale funding costs. (Tue, 16 Jun 2009 06:25:14 GMT)

Q&A with Jill Marty, HomeStreet Bank Business booming for mortgage lender
It’s been a busy spring at Seattle-based HomeStreet Bank as people take advantage of low interest rates and depressed home prices to buy new houses or refinance their old mortgages. (Tue, 16 Jun 2009 07:17:41 GMT)

Mortgage crystal ball 'murky'
It was only a matter of time before interest rates turned higher. They could hardly get much lower! So recent increases in mortgage rates and bond yields have many homeowners wondering how high rates will go, how soon, and what they should do to save the most money. (Tue, 16 Jun 2009 08:37:34 GMT)

Money Management: Is this a good time to refinance?
The most current observation is more than 5 hours old, please try again later. Interest rates often fall during tough economic times. That’s good news for homeowners who would like to shave a few dollars off their monthly mortgage payments. (Tue, 16 Jun 2009 09:58:48 GMT)

Mortgage lending licensing changing
A state official says the Oklahoma mortgage industry will soon be under a new regulatory system, providing better protection for consumers. (Tue, 16 Jun 2009 10:06:49 GMT)

FSA bans mortgage broker for self-cert fraud
The FSA has banned its fourth mortgage broker in six weeks for fraudulent mortgage activities. ... (Tue, 16 Jun 2009 10:23:08 GMT)

FSA bans South London mortgage broker for fraud
The Financial Services Authority (FSA) has banned Tooting-based mortgage broker Guiliano Chianelli for declaring false and misleading information about his income in order to obtain a mortgage. (Tue, 16 Jun 2009 10:26:50 GMT)

Cash-out home loan refinance sensible
Dear Dr. Don, I currently owe $37,281 on my mortgage. I have about seven to eight years left to pay. The interest rate is 6.125 percent. I just took out a car loan for five years. The interest rate is 5.99 percent and the loan is for $26,131. I need approximately $26,000 to fix up my house. (Tue, 16 Jun 2009 11:42:46 GMT)

It is time to lock in your mortgage?
Ottawa — Jas Grewal's reaction to the recent runup in interest rates was to abandon a sweetheart of a variable-rate mortgage in favour of a safer, but more expensive, fixed-rate mortgage. (Tue, 16 Jun 2009 12:18:18 GMT)

Factors in rising mortgage rates aren't all bad
If you haven't refinanced your mortgage yet, you may be wishing that you hadn't procrastinated so long. (Tue, 16 Jun 2009 12:25:16 GMT)

LendingTree expands product offering
LendingTree has launched a product it says will help banks and mortgage companies retain customers who seek to refinance. (TREE) (Tue, 16 Jun 2009 14:05:04 GMT)

Business Briefs
Gary Axelsen has been appointed mortgage loan representative at Rabobank, N.A., said Steve Harding, regional president. Axelsen is based in the bank’s office at 899 W. Grand Ave., Grover Beach, and is responsible for mortgage loans and refinancing in the Five Cities area. (Tue, 16 Jun 2009 14:24:32 GMT)

Fed Chooses Collateral Monitor For Commercial Mortgage Bonds
NEW YORK -(Dow Jones)- The Federal Reserve has chosen a collateral monitor for new and existing commercial mortgage bonds in a program through which it offers investors cheap loans to buy such bonds. (Tue, 16 Jun 2009 15:12:30 GMT)

Oklahoma's mortgage lending licensing changing
A state official says the Oklahoma mortgage industry will soon be under a new regulatory system, providing better protection for consumers. (Tue, 16 Jun 2009 15:13:19 GMT)

Of EMI and home loan
Of EMI and home loan (Tue, 16 Jun 2009 15:27:50 GMT)

Air Canada asks Ottawa for C$200 million loan
Cash-strapped Air Canada has approached the government for a loan, Finance Minister Jim Flaherty said on Tuesday as the airline works against the clock to stave off possible bankruptcy. (Tue, 16 Jun 2009 16:16:04 GMT)

Obama to take on mortgage market
WASHINGTON, June 16 (UPI) -- The Obama administration is set to tell U.S. mortgage lenders they must keep a portion of loans they sell to share in the risks, a Treasury spokesman said. (Tue, 16 Jun 2009 17:03:02 GMT)

Six Sellers Indicted in Slavic Village Mortgage Fraud Case
Cuyahoga County's Mortgage Fraud Task Force has quietly indicted six more people in the ongoing investigation into a massive mortgage fraud scheme in Cleveland's hard hit Slavic Village neighborhood. As part of our ongoing series, Facing the Mortgage Crisis, ideastream®'s Mhari Saito reports. (Tue, 16 Jun 2009 19:04:13 GMT)

Mortgage Rates Rise for Third Consecutive Week
RISMEDIA, June 17, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased last week to 5.72%, up from 5.48% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Meanwhile, rates for 15-year fixed mortgages rose to 5.18% from ... (Tue, 16 Jun 2009 19:58:05 GMT)

Local mortgage rates climbing
Local mortgage rates have climbed to their highest level in more than six months. (Tue, 16 Jun 2009 21:44:00 GMT)

Interest Rate Spike Thwarting Refinancing Efforts for Local Home buyers
Interest rates have gone up dramatically in the last few weeks. (Tue, 16 Jun 2009 21:51:52 GMT)

New Consumer Agency Would Revamp Mortgage Oversight
WASHINGTON -(Dow Jones)- A proposed new consumer protection agency would have vast powers to overhaul U.S. mortgage lending practices, upending current federal rules aimed at protecting home buyers. (Tue, 16 Jun 2009 22:11:20 GMT)

Lenders, Law Enforcement Meet on Mortgage Fraud
Law enforcement, banks and financial institutions shared concerns and solutions at a summit on mortgage fraud held in Austin yesterday. Mortgage fraud has become the fastest growing white collar crime. Consumers are often victims, but Jim Daross of the Texas Attorney General's office says lending institutions have also become big targets. (Tue, 16 Jun 2009 23:50:12 GMT)

Don't handcuff your mortgage
Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. (Wed, 17 Jun 2009 00:55:19 GMT)

R.I. Supreme Court suspends lawyers license
Paul B. McCarthy, who practiced law with now-disbarred attorney Pasquale A. Scavitti, will lose his law license for two months in connection with an illegal mortgage refinancing. (Wed, 17 Jun 2009 01:02:37 GMT)

Second broker arrested in widespread mortgage fraud case
WHEAT RIDGE - Two brothers, both mortgage brokers, are suspected of forging loan paperwork leading to foreclosures around the Denver metro area. (Wed, 17 Jun 2009 01:40:02 GMT)

Where to for home loan rates?
OPINION There is a lot of head scratching going on over the future of home loan rates this week. As I said last week the Reserve Bank is saying its base official cash rate is likely to stay around the 2.5% mark until 2010 and home loan rates should stay down. (Wed, 17 Jun 2009 02:38:26 GMT)

Where to for home loan rates?
There is a lot of head scratching going on over the future of home loan rates this week. (Wed, 17 Jun 2009 02:52:58 GMT)

Four area residents charged in mortgage fraud cases
Four people were charged in separate mortgage fraud cases yesterday in federal court. (Wed, 17 Jun 2009 04:44:35 GMT)

Don't handcuff your mortgage
Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. (Wed, 17 Jun 2009 05:55:18 GMT)

Bligh compares state debt to mortgage
Premier Anna Bligh says Queenslanders should view the state's debt as a mortgage, not a hefty credit card bill. (Wed, 17 Jun 2009 07:39:30 GMT)

BORROWING 'TIL THE NATION BREAKS?
MILLIONS of homeowners hoping to take advantage of government-guaranteed mortgage refinancing have gotten a rude awakening. In the last two months, mortgage rates have jumped from 4.8 percent to 5.8 percent, wiping out billions of dollars in... (Wed, 17 Jun 2009 10:37:13 GMT)

U.S. mortgage applications plunge to near seven-month low
U.S. mortgage applications fell for a fourth consecutive week, with overall demand plunging to its lowest level in nearly seven months, data from an industry group showed on Wednesday. (Wed, 17 Jun 2009 11:05:48 GMT)

U.S. mortgage applications plunge to near seven-month low
By Julie Haviv (Wed, 17 Jun 2009 11:05:48 GMT)

Mortgage filings fall, though rates improve: MBA
Homeowners fail to take advantage of lower interest rates to refinance their mortgages, the latest weekly data compiled by the Mortgage Bankers Association show. The weakness in refinancings accounts for much of the latest drop in overall filings for mortgages, down 15.8% in the week ended June 12 from the prior week. (Wed, 17 Jun 2009 11:07:33 GMT)

GOP Could Get Dodd Mortgage Documents
Documents associated with U.S. Sen. Christopher Dodd's much discussed "VIP" loans with defunct mortgage giant Countrywide Financial could become generally available, if a ranking Republican in the U.S. House of Representatives has his way. (Wed, 17 Jun 2009 11:08:53 GMT)

As rates rise, mortgage applications tumble
U.S. mortgage applications fell for a fourth consecutive week, with overall demand plunging to its lowest level in nearly seven months, data from an industry group shows. (Wed, 17 Jun 2009 11:45:02 GMT)

MPs to investigate mortgage problems
The Treasury Select Committee has called on the mortgage industry to give evidence for an upcoming enquiry into the problems facing the UK mortgage market. ... (Wed, 17 Jun 2009 11:52:01 GMT)

US Mortgage Applications Continue to Fall as Rates Remain High
The weekly release of the MBA Mortgage Applications index showed new filings for loans decreased for the fourth consecutive time. (Wed, 17 Jun 2009 11:53:38 GMT)

U.S. MBA Mortgage Applications Index Fell 16 Percent Last Week
June 17 (Bloomberg) -- Mortgage applications in the U.S. fell last week to the lowest level since November as the jump in borrowing costs over the last month caused refinancing to plunge further. (Wed, 17 Jun 2009 12:03:53 GMT)

U.S. MBA Mortgage Applications Index Fell 16 Percent Last Week
June 17 (Bloomberg) -- Mortgage applications in the U.S. fell last week to the lowest level since November as the jump in borrowing costs over the last month caused refinancing to plunge further. (Wed, 17 Jun 2009 13:03:58 GMT)

Rise in rates hammers mortgage applications
U.S. mortgage applications fell for a fourth consecutive week, with overall demand plunging to its lowest level in nearly seven months, data from an industry group showed on Wednesday. (Wed, 17 Jun 2009 13:04:25 GMT)

U.S. Mortgage Applications Index Fell 16% Last Week (Update1)
June 17 (Bloomberg) -- Mortgage applications in the U.S. fell last week to the lowest level since November as a jump in borrowing costs discouraged refinancing and threatened to deepen the housing slump. (Wed, 17 Jun 2009 13:14:02 GMT)

U.S. Mortgage Applications Index Fell 16% Last Week (Update1)
June 17 (Bloomberg) -- Mortgage applications in the U.S. fell last week to the lowest level since November as a jump in borrowing costs discouraged refinancing and threatened to deepen the housing slump. (Wed, 17 Jun 2009 13:21:50 GMT)

Borrowers ignore best home loan deals
AUSTRALIAN home loan borrowers are paying an extra $2.7 billion a year in repayments because they don't shop around. (Wed, 17 Jun 2009 14:01:00 GMT)

Fund's home loan portfolio for sale
After suspending its housing loan program for over two years now, the Retirement Fund board of trustees has decided to let go of the program and voted to sell it to a third-party operator. (Wed, 17 Jun 2009 14:03:43 GMT)

Mortgage-Bond Yields Fall for Fifth Day From This Year’s High
June 17 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined for the fifth day, tracking a drop in rates on benchmark U.S. Treasuries and suggesting further declines in interest rates on new home loans. (Wed, 17 Jun 2009 15:07:57 GMT)

2010 Home Price and Mortgage Rate Outlook: 5 Things to Know
Big-bank economists outline their projections for home prices, mortgage rates, and economic growth. (Wed, 17 Jun 2009 15:45:23 GMT)

No California Foreclosure Moratorium But You Can Save Your Home With Loan Modification Programs in Los Angeles and ...
The new "foreclosure moratorium laws" do not guarantee homeowners a loan modification and will do little to stop a trustee sale. (Wed, 17 Jun 2009 16:37:00 GMT)

2nd brother arrested in alleged Wheat Ridge mortgage fraud
The second of two brothers under investigation for alleged mortgage fraud was arrested Tuesday by the Wheat Ridge Police Department, accused of falsifying financial information of a potential (Wed, 17 Jun 2009 17:07:32 GMT)

Mortgage applications sink despite drop in rates
Mortgage loan applications decreased 15.8% in the week ended June 12, according to a survey by the Mortgage Bankers Association released Wednesday. (Wed, 17 Jun 2009 17:16:08 GMT)

Mortgage applications fall again
The number of mortgage and refinancing applications fell last week — the fourth consecutive weekly drop. (Wed, 17 Jun 2009 17:56:21 GMT)

GOP seeks Countrywide mortgage documents
WASHINGTON, June 17 (UPI) -- A Republican lawmaker says he's seeking records relating to a defunct "VIP" mortgage loan program associated with U.S. Sen. Christopher Dodd, D-Conn. (Wed, 17 Jun 2009 18:28:09 GMT)

Morgan Stanley to Sell Repackaged Commercial Mortgage Debt
June 17 (Bloomberg) -- Morgan Stanley is selling about $210 million in securities backed by a single commercial mortgage bond, according to a person familiar with the sale. (Wed, 17 Jun 2009 19:22:27 GMT)

Mortgage refinancing options are becoming more attractive
In an effort to jumpstart the economy, lenders working with the U.S. government have implemented several programs and policies, including the Homeowner Affordability and Stability Program, to help you better manage your loans. (Wed, 17 Jun 2009 19:25:42 GMT)

MBA: Mortgage applications fall again
The number of mortgage and refinancing applications fell last week for the fourth consecutive week. (Wed, 17 Jun 2009 19:50:19 GMT)

Mortgage-Bond Yields Fall for Fifth Day, Signaling Lower Rates
June 17 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined for a fifth day, tracking a drop in rates on benchmark U.S. Treasuries and suggesting further declines in borrowing costs for new home loans. (Wed, 17 Jun 2009 19:52:27 GMT)

Mortgage-Bond Yields Fall for Fifth Day, Signaling Lower Rates
June 17 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities declined for a fifth day, tracking a drop in rates on benchmark U.S. Treasuries and suggesting further declines in borrowing costs for new home-loans. (Wed, 17 Jun 2009 20:13:29 GMT)

Mortgage applications fall again
The number of mortgage and refinancing applications fell last week for the fourth consecutive week. (Wed, 17 Jun 2009 21:16:12 GMT)

Wall Street Calls Obama's Mortgage-Market Debt Plan a Burden
June 17 (Bloomberg) -- The Obama administration’s plan to shore up the market for mortgage bonds by forcing banks to keep some on their books faces resistance on Wall Street, as bankers call the measure burdensome and a hindrance to new lending. (Wed, 17 Jun 2009 21:28:51 GMT)

Mortgage Yields Climb for First Day in Five; Rates May Rise
June 17 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities rose for the first day in five, suggesting interest rates on new home loans will resume their climb. (Wed, 17 Jun 2009 23:13:44 GMT)

Bank of America Is Marketing Commercial Mortgage Debt (Update1)
June 17 (Bloomberg) -- Bank of America Corp. and Morgan Stanley are marketing securities backed by commercial mortgage bonds. Bank of America is selling $368 million in debt backed by nine commercial mortgage bonds, according to a person familiar with the offering. (Wed, 17 Jun 2009 23:28:31 GMT)

Mortgage Rates Expected to Rise
SPRINGDALE — Mortgage interest rates of 4.5 percent have come and gone in recent weeks, prompting a flurry of refinance activity, but economists said the tide is turning as rates creep higher amid inflation fears. (Wed, 17 Jun 2009 23:54:15 GMT)

FOXBusiness: Mortgage Applications Plunge
NEW YORK--U.S. mortgage applications fell for a fourth consecutive week, with overall demand plunging to its lowest level in nearly seven months, data from an industry group showed on Wednesday. (Thu, 18 Jun 2009 00:03:04 GMT)

Rate rise hammers mortgage applications
US mortgage applications fell for a fourth consecutive week, with overall demand plunging to its lowest level in nearly seven months, data from an industry group showed. (Thu, 18 Jun 2009 00:07:05 GMT)

Home loan affordability improves
The BNZ Home Loan Affordability measure improved in May from April, which was the first monthly improvement in 2009. A slight fall in the median house price and flat interest rates helped reduce the proportion of after-tax pay needed to service a ... (Thu, 18 Jun 2009 00:12:39 GMT)

Home loans become more affordable - study
For the first time this year, the dream of owning a home has moved within the reach of average New Zealanders, instead of moving further away. The BNZ Home Loan Affordability measure improved in May from April, which was the first... (Thu, 18 Jun 2009 01:02:38 GMT)

TSB cuts home loan rate
TSB Bank is cutting its two-year fixed home loan rate to 5.99 percent to stimulate demand for home loans. (Thu, 18 Jun 2009 06:08:08 GMT)

TSB cuts home loan rate
TSB Bank is cutting its two-year fixed home loan rate to 5.99 percent to stimulate demand for home loans. The Taranaki-based trust-owned bank, which returns its profits to the community, said it funds its mortgage lending entirely from deposits, which have been increasing. (Thu, 18 Jun 2009 06:08:26 GMT)

TSB cuts home loan rates to under 6pc
TSB Bank is cutting its two-year fixed home loan rate to 5.99 per cent to stimulate demand for home loans. The Taranaki-based trust-owned bank, which returns its profits to the community, said it funds its mortgage lending entirely... (Thu, 18 Jun 2009 07:15:17 GMT)

Mortgage fraud probe nets 2nd arrest
The second of two brothers under investigation for alleged mortgage fraud was arrested Tuesday by the Wheat Ridge Police Department, accused of falsifying financial information of a potential property buyer. (Thu, 18 Jun 2009 07:15:48 GMT)

Mortgage Rates Expected to Rise
SPRINGDALE — Mortgage interest rates of 4.5 percent have come and gone in recent weeks, prompting a flurry of refinance activity, but economists said the tide is turning as rates creep higher amid inflation fears. (Thu, 18 Jun 2009 07:40:50 GMT)

Mortgage lending down 58 percent year-on-year in May 
Gross mortgage lending fell 58 percent year-on-year to 10.3 billion pounds in May, the Council of Mortgage Lenders said on Thursday. (Thu, 18 Jun 2009 08:47:00 GMT)

Mortgage lending falls back again
Mortgage lending fell back in May, according to the latest figures from the Council of Mortgage Lenders. (Thu, 18 Jun 2009 09:35:52 GMT)

Mortgage lending eases in May
Mortgage lending eased in May from the month before and is 58% lower than the same time last year, figures showed today. (Thu, 18 Jun 2009 10:04:00 GMT)

UK retail sales, mortgage data hurt recovery hopes
Retail sales and mortgage lending in Britain dropped in May, dampening hopes that an economic recovery is under way, while government borrowing hit a record high due to the cost of massive stimulus measures, official data showed Thursday. (Thu, 18 Jun 2009 10:53:26 GMT)

Bankrate: Mortgage Rates Reverse Course
Mortgage rates pulled back sharply this week, with the average 30-year fixed mortgage rate falling to 5.76 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.43 discount and origination points. (Thu, 18 Jun 2009 11:30:00 GMT)

Bankrate: Fixed Mortgage Rates Dip In Latest Week
Bankrate: Fixed Mortgage Rates Dip In Latest Week (Thu, 18 Jun 2009 12:19:16 GMT)

Counselor: Educating home buyers can prevent future crises
CLEARFIELD -- Bertha, who asked that only her first name be used, purchased a home on her own for the first time in 2005. The mother of four who is now raising a grandson said she signed a loan document she didn’t understand. (Thu, 18 Jun 2009 12:45:57 GMT)

Mortgage lending falls back again
Mortgage lending fell back in May, according to the latest figures from the Council of Mortgage Lenders. (Thu, 18 Jun 2009 13:51:03 GMT)

Europe must refinance $3.9 trln in 2009-12
LONDON - European companies must refinance a $3.9 trillion debt mountain over the next three years, casting a dark cloud over the tentative signs of economic recovery in the region, Standard & Poor’s said on Thursday. (Thu, 18 Jun 2009 13:59:27 GMT)

Fund's home loan portfolio for sale
After suspending its housing loan program for over two years now, the Retirement Fund board of trustees has decided to let go of the program and voted to sell it to a third-party operator. (Thu, 18 Jun 2009 14:07:53 GMT)

U.S. Mortgage Rates Drop to 5.38%, Freddie Mac Says (Update1)
June 18 (Bloomberg) -- Fixed U.S. mortgage rates fell for the first time in four weeks easing concern higher borrowing costs would discourage refinancing and deepen the housing slump. (Thu, 18 Jun 2009 14:23:58 GMT)

U.S. Mortgage Rates Drop to 5.38%, Freddie Mac Says (Update1)
June 18 (Bloomberg) -- Fixed U.S. mortgage rates fell for the first time in four weeks easing concern higher borrowing costs would discourage refinancing and deepen the housing slump. (Thu, 18 Jun 2009 14:50:36 GMT)

Springdale Condo Owner Told He Can't Refinance
Condominiums are becoming more difficult to buy and refinance these days. It's all part of an effort to limit risky lending. Local 12 Troubleshooter Howard Ain says this came as quite a surprise to one area man. (Thu, 18 Jun 2009 15:05:55 GMT)

Mortgages: Mortgage rates tumble after three-week jump
After hitting their highs for the year following a three-week run-up, mortgage interest rates charged on popular mortgages ease nearly a quarter of a percentage point on the heels of good inflation news, Freddie Mac reports. (Thu, 18 Jun 2009 15:07:51 GMT)

Mortgage rates fall from recent high
Interest rates on 30-year fixed-rate mortgages dropped 0.21 percentage point in the latest week, retreating sharply from a seven-month high that cut into weekly mortgage applications. (Thu, 18 Jun 2009 15:17:33 GMT)

Get ready to pounce on lower mortgage rates
After a recent spike seen in mortgage rates, some consumers are wondering whether they’ve missed their chance to refinance into an ultra-low rate. Fear not. (Thu, 18 Jun 2009 15:52:33 GMT)

Mortgage rates retreat
Home mortgage rates sank sharply last week, retreating from a recent run-up that peaked the previous week. The 30-year fixed slipped to 5.76% from 5.95%, according to a report released Thursday. (Thu, 18 Jun 2009 16:24:04 GMT)

Mortgage rates fall back from 7-month high
Rates for 30-year home loans fell back this week after soaring to the highest level in seven months a week earlier. The average rate for a 30-year fixed mortgage was 5.38 percent this week, down from 5.59 percent a week earlier, mortgage company Freddie Mac said. (Thu, 18 Jun 2009 16:35:47 GMT)

Mortgage rates fall back from 7-month high
The average rate for a 30-year fixed mortgage was 5.38 percent this week, down from 5.59 percent a week earlier, mortgage company Freddie Mac said. (Thu, 18 Jun 2009 16:40:39 GMT)

Is This a Good Time to Refinance?
Interest rates often fall during tough economic times. That’s good news for homeowners who would like to shave a few dollars off their monthly mortgage payments. That’s because when interest rates fall, it’s time to consider refinancing your mortgage loan. (Thu, 18 Jun 2009 18:31:41 GMT)

U.S. mortgage rates fall in week
WASHINGTON, June 18 (UPI) -- Interest rates for U.S. mortgages fell in the past week in part due to low inflation, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 18 Jun 2009 19:02:50 GMT)

Corrections: Pouncing on low mortgage rates
A MarketWatch story on June 18 about the prospects for lower mortgage rates incorrectly reported loan officer Dan Green’s business affiliation. He works in Cincinnati for Waterstone Mortgage, a Wisconsin-based lender. (Thu, 18 Jun 2009 19:08:03 GMT)

Video: Home-Loan Shoppers: Dive In On Dips
After months of record lows, mortgage rates are volatile and look likely to rise, making life difficult for home-loan shoppers. Still, on a historical basis mortgages are a good deal right now. (June 18) (Thu, 18 Jun 2009 20:19:30 GMT)

Mortgage rates fall after weekly increases
WASHINGTON — Rates for 30-year home loans fell back this week after soaring to the highest level in seven months a week earlier.The average rate for a 30-year fixed mortgage was 5. (Thu, 18 Jun 2009 22:17:14 GMT)

Mortgage-Bond Yields Rise for Second Day, Suggesting Rate Rise
June 18 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities rose for a second day, exceeding increases in benchmark Treasuries and suggesting a recent decline in interest rates on new home loans is reversing. (Thu, 18 Jun 2009 23:07:18 GMT)

Mortgage Trap Mires NYT Economics Reporter in Debt, Fear: Books
June 19 (Bloomberg) -- To get a feel for how much further U.S. home prices may fall, pick up Edmund L. Andrews’s “Busted: Life Inside the Great Mortgage Meltdown.” (Thu, 18 Jun 2009 23:32:08 GMT)

TSB Bank leads the way to lower home loan costs
New Zealand-owned TSB Bank today reduced its 2 year fixed-rate home loans to a nationwide low of 5.99% per annum. Managing director Kevin Rimmington said the bank remained unaffected by the comings and goings on worldwide financial markets – and was determined to pass the benefits of this on to New Zealanders. (Fri, 19 Jun 2009 01:59:33 GMT)

S.Korea FSS hints at tighter home loan regulations
SEOUL, June 19 (Reuters) - An official at a South Korean financial watchdog said on Friday that the authorities would tighten home loan regulations if bank lending surged to a point that drove up property prices. (Fri, 19 Jun 2009 03:30:38 GMT)

S.Korea FSS hints at tighter home loan regulations
SEOUL, June 19 (Reuters) - An official at a South Korean financial watchdog said on Friday that the authorities would tighten home loan regulations if bank lending surged to a point that drove up property prices. (Fri, 19 Jun 2009 03:30:38 GMT)

Mortgage foreclosures heading through the roof
The Obama administration's $75 billion program to reduce foreclosures has been beset by backlogs and delays, leading many overstretched homeowners to complain about unreturned phone calls and inaccurate information from lenders, while others say they were denied help for reasons that weren't clear. (Fri, 19 Jun 2009 03:42:05 GMT)

Starwatch consumer | Mortgage rates decline
Mortgage rates fall Rates for 30-year home loans fell back this week after soaring to the highest level in seven months a week earlier. The average rate for a 30-year fixed mortgage was 5.38 percent this week, down from 5.59 percent a week earlier, mortgage company Freddie Mac said. (Fri, 19 Jun 2009 03:51:29 GMT)

(AFX UK Focus) 2009-06-19 04:45 S.Korea FSS hints at tighter home loan regulations
SEOUL, June 19 (Reuters) - An official at a South Korean financial watchdog said on Friday that the authorities would tighten home loan regulations if bank lending surged to a point that drove up property prices. "It's true that home-backed loans are rising fast. We will take (tightening) action promptly if mortgage loans are deemed to be at a high-risk level," Lee Seok-keun, head of the ... (Fri, 19 Jun 2009 04:00:43 GMT)

(AFX UK Focus) 2009-06-19 04:45 S.Korea FSS hints at tighter home loan regulations
SEOUL, June 19 (Reuters) - An official at a South Korean financial watchdog said on Friday that the authorities would tighten home loan regulations if bank lending surged to a point that drove up property prices. "It's true that home-backed loans are rising fast. We will take (tightening) action promptly if mortgage loans are deemed to be at a high-risk level," Lee Seok-keun, head of the ... (Fri, 19 Jun 2009 04:16:52 GMT)

Home Front: State's mortgage crisis creeps beyond subprime territory
New numbers released this week by the California Department of Corporations show the mortgage crisis is moving higher up the food chain. (Fri, 19 Jun 2009 07:02:47 GMT)

30-year mortgage rates down
Rates for 30-year home loans fell back this week after soaring to the highest level in seven months a week earlier. The average rate for a 30-year fixed mortgage was 5.38 percent this week, down from 5.59 percent a week earlier, mortgage company Freddie Mac said. (Fri, 19 Jun 2009 07:05:29 GMT)

HOUSING CRISIS FALLOUT: Loan firm's scam may cost family their home
A Westland family thought they were doing the right thing by signing up with Hope Now Modifications LLC for a loan modification late last year. Hope Now Modifications LLC of New Jersey was shut down and its assets frozen in March. But that was too late for the Boyds, who are days away from losing their home. (Fri, 19 Jun 2009 07:54:37 GMT)

Simply Money: Relief refinance mortgages
Here are answers to questions about 105 percent loans to current mortgage holders, and whether people can get a one-time payment of $250 if they're on Social Security. (Fri, 19 Jun 2009 09:41:53 GMT)

Rams to lift fixed home loan rates
Rams Home Loans says it will raise interest rates on some of its fixed home loans. (Fri, 19 Jun 2009 09:51:41 GMT)

DHFL expects home loan rates to come down by 25-50 bps
As liquidity eases and inflation turns negative, Dewan Housing Finance Corporation today said it expects home loan rates to come down by 25-50 basis points in the near-term. (Fri, 19 Jun 2009 10:12:38 GMT)

Home loan rates to fall by 25-50 bps: DHFL
As liquidity eases and inflation turns negative, Dewan Housing Finance Corporation on Friday said it expects home loan rates to come down by 25-50 basis points in the near-term. (Fri, 19 Jun 2009 10:28:09 GMT)

40-year mortgages may not be good deal MORTGAGE RATES
It's true: A 40-year mortgage can make your monthly house payment more affordable. But mortgage brokers say such long-term loans generally aren't the best choice for most borrowers because they typically come with a higher interest rate and cost more in interest over the lifetime of the loan. ... (Fri, 19 Jun 2009 12:15:46 GMT)

Mortgage originator PHH says CEO steps down
Mortgage originator PHH Corp. on Friday announced the departure of its CEO and named an interim successor. Terence W. Edwards stepped down as president and CEO effective Wednesday. He will serve as an adviser to the PHH for up to six months to help with the leadership transition. (Fri, 19 Jun 2009 13:41:09 GMT)

Mortgage company's harassing calls to Amherst woman cost it $40,000
An Amherst woman who acted as her own lawyer has won a $40,000 judgment against a mortgage giant after a judge ruled that the firm harassed her by making at least 200 collection calls to her home in one year. ... (Fri, 19 Jun 2009 15:14:18 GMT)

Mortgage rates fall in Ohio, Ky.
Mortgage rates, following a national trend, dropped sharply in Ohio and Kentucky over the past week, according to Zillow.com. (Fri, 19 Jun 2009 15:55:44 GMT)

Mortgage Bankers Fight Obama Plan's 'Reverse Preemption'
WASHINGTON -(Dow Jones)- The Mortgage Bankers Association has weighed in against an Obama White House proposal to allow states to write tougher lending rules than the federal government. (Fri, 19 Jun 2009 15:56:21 GMT)

Obama Mortgage Refinancing Program May Expand, Lockhart Says
June 19 (Bloomberg) -- President Barack Obama ’s program to help more homeowners refinance may be expanded to include borrowers who owe more than 105 percent of their homes’ values, Federal Housing Finance Agency Director James Lockhart said. (Fri, 19 Jun 2009 16:18:17 GMT)

MBA: Outstanding Mortgage Debt Remains Unchanged in First Quarter
The level of commercial mortgage debt outstanding remained relatively unchanged in the first quarter, at $3.48 trillion, according to the Mortgage Bankers Association analysis of the Federal Reserve Board Flow of Funds data. (Fri, 19 Jun 2009 16:25:07 GMT)

Obama’s Mortgage Refinancing Program May Be Expanded (Update1)
June 19 (Bloomberg) -- Fannie Mae and Freddie Mac may get permission to begin refinancing mortgages with loan-to-value ratios above 105 percent as the Obama administration seeks to boost participation in its anti-foreclosure programs. (Fri, 19 Jun 2009 17:51:47 GMT)

Homeowners seeking mortgage loan modifications facing a huge logjam
Borrowers say they're waiting months and not getting any results If you want to change the terms of your mortgage -- officially called a loan modification -- you're facing a huge logjam. (Fri, 19 Jun 2009 17:59:46 GMT)

Giddyup, Mortgage Payments!
We’re all feeling the pinch of the recession, but a $14.5 million mortgage? Forget a pinch, that’s a straight up burn. (Fri, 19 Jun 2009 18:55:02 GMT)

As Mortgage Rates Move, Headaches Follow
When Jennifer and Sam Lam put a contract in on a home in late April, they had timed the deal perfectly, with mortgage rates hovering under 5 percent. After an inspection revealed structural problems, it took the couple only a few weeks to find another place -- this one a three-bedroom, 2 1/2 -bath Capitol Hill rowhouse with a basement rental. (Fri, 19 Jun 2009 19:01:55 GMT)

Repaying Your Home Loan Is Always a Safe Investment
One consequence of the financial crisis has been that repaying your mortgage has become increasingly attractive. Mortgage repayment is a riskless investment that yields a return equal to the interest rate on the repaid loan. If the loan carries a 6.125 percent rate, the borrower earns that rate on the balance repaid. The yields on other investments of comparable risk, including federal ... (Fri, 19 Jun 2009 20:12:20 GMT)

Securing a Mortgage Just Got Harder for Relocators
Real estate may be showing signs of a turnaround in many local markets, but the nation's largest mortgage players are continuing to ratchet up their underwriting rules, making home purchases more difficult for some buyers. (Fri, 19 Jun 2009 20:12:31 GMT)

California's Mortgage Crisis Creeps Beyond Subprime Territory
New numbers released this week by the California Department of Corporations show the mortgage crisis is moving higher up the food chain. (Fri, 19 Jun 2009 21:24:05 GMT)

Should You Refinance Your Mortgage When Interest Rates Drop?
Refinancing is a great way for many homeowners to improve their financial situation - but beware of the downsides. (Fri, 19 Jun 2009 21:37:31 GMT)

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