Mortgage News Feb 2010

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More Countries to Follow Asia on Mortgage Caps, Geoghegan Says
HSBC Holdings Plc Chief Executive Officer Michael Geoghegan said more countries will adopt the mortgage lending caps that protected Asia during the collapse in the U.S. and U.K. housing markets. (Mon, 01 Feb 2010 03:21:46 GMT)

More Countries to Follow Asia on Mortgage Caps, Geoghegan Says
Feb. 1 (Bloomberg) -- HSBC Holdings Plc Chief Executive Officer Michael Geoghegan said more countries will adopt the mortgage lending caps that protected Asia during the collapse in the U.S. and U.K. housing markets. (Mon, 01 Feb 2010 03:31:00 GMT)

Mortgage troubles move upward
Regional foreclosure filings surged 63% in 2009, tripling the increases seen in California and the nation as mortgage trouble rippled into previously unaffected areas, according to a real estate report released Thursday. (Mon, 01 Feb 2010 04:17:56 GMT)

More Countries to Follow Asia on Mortgage Caps, Geoghegan Says
HSBC Holdings Plc Chief Executive Officer Michael Geoghegan said more countries will adopt the mortgage lending caps that protected Asia during the collapse in the U.S. and U.K. housing markets. (Mon, 01 Feb 2010 05:42:21 GMT)

Suit Proceeds Against Attorneys Accused of Facilitating Mortgage 'Doomed to Failure'
A New York judge has allowed an action to go forward against two attorneys and others who are accused of facilitating a $629,000 mortgage for a waitress who earned less than $25,000 a year. (Mon, 01 Feb 2010 08:03:05 GMT)

U.K. Mortgage Approvals Unexpectedly Fell in December (Update1)
Feb. 1 (Bloomberg) -- U.K. mortgage approvals unexpectedly dropped in December for the first time in more than a year, a sign the housing-market recovery may struggle to keep up momentum. (Mon, 01 Feb 2010 09:54:28 GMT)

Instant View - Mortgage approvals fall in December 
Mortgage approvals unexpectedly fell in December, the first drop since November 2008, Bank of England figures showed on Monday. (Mon, 01 Feb 2010 10:03:00 GMT)

Mortgage approvals dip in December 
Mortgage approvals unexpectedly fell in December, the first drop since November 2008, suggesting the last year's rebound in the housing market may be petering out, though there was a surprise increase in consumer lending, Bank of England figures showed on Monday. (Mon, 01 Feb 2010 10:10:00 GMT)

U.K. December Mortgage Approvals Dip
U.K. December Mortgage Approvals Dip (Mon, 01 Feb 2010 10:17:22 GMT)

HK mortgage loans in negative equity fall in Q4 2009
HONG KONG, Feb 1 (Reuters) - The estimated number of residential mortgage loans (RMLs) in negative equity in Hong Kong fell 44 percent to 466 cases at the end of December from 835 cases at the end of September as property prices rose, data from the Hong Kong Monetary Authority showed. (Mon, 01 Feb 2010 10:23:16 GMT)

Double standard in mortgage walkaways
Tishman Speyer Properties walks away from 11,232 Manhattan apartments because it can't pay its mortgage. That's good business. Rick Gilson, a college custodial supervisor in South Dakota, wants to walk away from the mortgage on his mobile home. If he does, he'll be a deadbeat. (Mon, 01 Feb 2010 10:33:15 GMT)

More Countries to Follow Asia on Mortgage Caps, Geoghegan Says
Feb. 1 (Bloomberg) -- HSBC Holdings Plc Chief Executive Officer Michael Geoghegan said more countries will adopt the mortgage lending caps that protected Asia during the collapse in the U.S. and U.K. housing markets. (Mon, 01 Feb 2010 10:46:06 GMT)

Can't refinance without mortgage
You can't fund renovations with a refinance if there's no outstanding mortgage on the house. (Mon, 01 Feb 2010 11:00:00 GMT)

New home loan modification rules coming
Need a home loan modification? In June, homeowners must provide financial documents upfront. (Mon, 01 Feb 2010 11:00:00 GMT)

New home loan modification rules coming
If you want to get a modification to prevent foreclosure, soon you will have to supply financial documents upfront -- including paycheck stubs and an income tax form. (Mon, 01 Feb 2010 11:42:49 GMT)

Can't refinance without mortgage
Dear Dr. Don, We are planning to remodel/renovate our house. We paid off our mortgage in the middle of last year and don't have any major debts other than our monthly expenses, which we put on one credit card. Our FICO scores are in the 800s. (Mon, 01 Feb 2010 11:43:28 GMT)

USDA triples direct loan funds available for low income families buying homes
The local USDA Rural Development office is looking for very low and low-income families to qualify for a home loan. (Mon, 01 Feb 2010 15:11:51 GMT)

LandMar Group's parent company files Chapter 11 reorganization plan
Crescent Resources LLC expects to emerge early in the second calendar quarter of 2010 with an improved balance sheet featuring an outstanding secured debt load lightened by about $1 billion -- scaled back to about $465 million. The company also is seeking proposals for $125 million to $150 million in exit financing to refinance borrowings and provide working capital. (Mon, 01 Feb 2010 16:03:11 GMT)

Mortgage approvals dip in December
Mortgage approvals for house purchase fell for the first time in 13 months during December, prompting speculation that the housing market recovery may be running out of steam. (Mon, 01 Feb 2010 16:11:51 GMT)

Halmosi returns home on loan
Hull City midfielder Peter Halmosi has rejoined Hungarian side Szombathelyi Haladas on loan until the end of the season. (Mon, 01 Feb 2010 17:11:06 GMT)

Will changes to government's mortgage mod program help at all?
The Treasury is introducing new rules to its mortgage modification program. (Mon, 01 Feb 2010 17:23:12 GMT)

Court: Mortgage valid despite wife’s failure to sign
A mortgage was valid and enforceable against a wife who actively participated in a mortgage transaction with her husband even though she didn’t sign the loan documents as a co-borrower, the Minnesota Court of Appeals has ruled. (Mon, 01 Feb 2010 18:42:30 GMT)

ANALYSIS-Soccer-Top Brazil strikers head home eyeing World Cup
Ronaldo, Adriano, Fred and now Robinho, Brazil's four strikers at the 2006 World Cup, have returned home looking to revive their careers and earn a place at this year's finals in South Africa. (Mon, 01 Feb 2010 19:02:53 GMT)

HFF Arranges $45M Refinancing For Brookline Office
The Boston office of Holliday Fenoglio Fowler, L.P. (HFF) has arranged a $45 million first mortgage loan for a 155,896-square-foot office building in Brookline's Brookline Village. (Mon, 01 Feb 2010 20:25:56 GMT)

Fewer banks imposing new loan hurdles; demand low
Fewer banks are erecting new hurdles for people and businesses to get loans, a fresh sign credit problems are easing. In a quarterly survey released Monday, the Federal Reserve found that "commercial banks generally ceased tightening standards on many loan types" at the end of last year. (Mon, 01 Feb 2010 21:07:36 GMT)

Refinance Volumes and HAMP Modifications Increase in December 2009
RISMEDIA, February 2, 2010—Fannie Mae and Freddie Mac initiated more than 485,000 mortgage loan modifications through December 2009, under the Administration’s Home Affordable Modification Program (HAMP). Total refinance volume increased in December, including those under the Home Affordable Refinance Program… (Mon, 01 Feb 2010 21:19:03 GMT)

Former Mortgage Company President Gets 13 Years' Prison For $30 Million Fraud at HUD, Riverside
LawFuel.com - US Attorney - RIVERSIDE, California – The former president of Mortgage One Corporation in Hesperia was sentenced this afternoon to 13 years in federal prison for defrauding theUnited States Department of Housing and Urban Development and private lenders by fraudulently obtaining hundreds of federally insured loans and selling those mortgages to private lenders in a scheme that ... (Mon, 01 Feb 2010 23:23:16 GMT)

Anworth Mortgage plans stock buyback
Anworth Mortgage Asset Corp., which invests in securities backed by the government and mortgage financiers Fannie Mae and Freddie Mac, said Monday it plans to buy back up to 5.85 million shares of its common stock under a new repurchase authorization. (Mon, 01 Feb 2010 23:37:28 GMT)

Mortgage troubles move upward
Regional foreclosure filings surged 63% in 2009, tripling the increases seen in California and the nation as mortgage trouble rippled into previously unaffected areas, according to a real estate report released Thursday. (Mon, 01 Feb 2010 23:47:57 GMT)

Housing market hit by mortgage dip
FRESH doubt has been cast over the housing market recovery after the first slump in mortgage approvals for more than a year. (Tue, 02 Feb 2010 00:12:02 GMT)

Home loan guide
Everything you need to know about your home loan, including repayments calculators, stamp duty estimators and savings plans. (Tue, 02 Feb 2010 04:23:51 GMT)

Will mortgage rates rise soon?
For the past year, we ve seen mortgage interest rates remain at or near record lows. But, soon we could see the housing recovery tested by rising rates. (Tue, 02 Feb 2010 05:14:54 GMT)

Home repair resources underutilized
WAVERLY — The Village of Waverly has been offering a low-interest loan to low-to-moderate-income property owners needing to make necessary home repairs for the later half of this decade. However, few homeowners have yet to take advantage of this Community Development Block Grant program. (Tue, 02 Feb 2010 06:15:37 GMT)

Double standard in mortgage walkaway
NEW YORK (AP) -- Tishman Speyer Properties walks away from 11,232 Manhattan apartments because it can't pay its mortgage. That's good business. Rick Gilson, a college custodial supervisor in South Dakota, wants to walk away from the mortgage on his mobile home. If he does, he'll be a deadbeat. (Tue, 02 Feb 2010 06:25:02 GMT)

Reverse mortgage presentation held at Warwick Senior Center
WARWICK - If you are 62 or older and live in your own home, a reverse mortgage loan could improve your financial situation but it’s not for everyone. (Tue, 02 Feb 2010 07:58:18 GMT)

Could return of career-linked mortgage rates help first-time buyers?
CAREER-LINKED mortgage rates should be offered by lenders to help aspiring buyers get a foot on the housing ladder, a leading estate agent urged last night. (Tue, 02 Feb 2010 08:14:12 GMT)

Fewer banks impose new loan hurdles
Fewer banks are placing new hurdles for people and businesses to get loans, a fresh sign credit problems are easing. In a quarterly survey released Monday, the Federal Reserve found that "commercial banks generally ceased tightening standards on many loan... Business - Federal Reserve System - Commercial bank - Loan origination - Federal Reserve (Tue, 02 Feb 2010 08:31:03 GMT)

Mortgage Experts Offer Five Reasons to Refinance Your Home Now
SAN MATEO, CA--(Marketwire - 02/02/10) - Mortgage experts from Bills.com, the leading resource for free, objective and expert money advice, today advised that consumers considering a home refinance should begin the process now. Further, the company reported that the most frequently asked question of its Ask Bill expert advice center concerned home refinancing rates and recommendations. "Market ... (Tue, 02 Feb 2010 13:06:00 GMT)

Loan assistance available through Dept. of Agriculture
Midland County residents in need of a loan to either buy or repair a home might qualify for help from from the U.S. Department of Agriculture. (Tue, 02 Feb 2010 13:20:34 GMT)

Mortgage Experts Offer Five Reasons to Refinance Your Home Now
Bills.com Reports Refinancing as One of Consumers' Top Concerns (Tue, 02 Feb 2010 13:20:51 GMT)

Mortgage Deduction In Crosshairs Again
The Obama administration proposes to raise $291 billion over the next decade by reducing the amount by which wealthy families can cut their tax bills by claiming itemized deductions for mortgage interest payments and other write-offs. (Tue, 02 Feb 2010 15:10:55 GMT)

Member Advantage Mortgage Makes Easy Transition to New RESPA Regulations Using XetusOne Loan Origination System
PALO ALTO, CA--(Marketwire - 02/02/10) - Member Advantage Mortgage ( www.memberadvantagemortgage.com ), based in Ada, Mich., with assets of $4 million, started the new year with a stress-free transition to the new RESPA regulations with the use of Palo Alto, CA-based Xetus' ( www.xetus.com ) XetusOne Loan Origination System. "The transition ... (Tue, 02 Feb 2010 16:00:00 GMT)

Member Advantage Mortgage Makes Easy Transition to New RESPA Regulations Using XetusOne Loan Origination System
As Lenders Tackle the Difficult Task of Compliance With New RESPA Regulations, XetusOne Provides a User-Friendly Solution (Tue, 02 Feb 2010 16:06:50 GMT)

USDA triples direct loan funds available for low income families buying homes
The local USDA Rural Development office is looking for very low and low-income families to qualify for a home loan. (Tue, 02 Feb 2010 16:18:23 GMT)

Will you save in the long run? Refinancing 101
Today’s low interest rates may look tempting, but how do you know if refinancing is really worth it? Real estate expert Barbara Corcoran breaks down the basics for homeowners. (Tue, 02 Feb 2010 16:34:57 GMT)

USDA triples direct loan funds available for low income families buying homes
The local USDA Rural Development office is looking for very low and low-income families to qualify for a home loan. (Tue, 02 Feb 2010 16:37:19 GMT)

San Francisco Mortgage Fraud Closings Draw Crowd
Some experienced white-collar hands assembled for closings Monday in one of the few federal mortgage fraud cases to hit a Northern California jury. Judy Yeung, a woman well known in San Francisco political circles, is accused of using straw buyers to obtain fraudulent mortgages totaling $6.5 million. Her case is fairly representative of the DOJ's local mortgage fraud docket; since the housing ... (Tue, 02 Feb 2010 17:00:20 GMT)

Myers Internet Chooses LoanSifter to Enhance Mortgage POS Eligibility and Pricing
MILWAUKEE and APPLETON, Wis., Feb. 2 /PRNewswire/ -- Myers Internet, a website provider for mortgage originators and real estate professionals, announced today its strategic alliance with LoanSifter, the leading provider of web-based product and pricing tools. (Tue, 02 Feb 2010 17:18:36 GMT)

Mortgage Technology Trends for 2010
The pace of M&A activity in the mortgage technology market picked up in 2009 and is expected to continue in 2010. (Tue, 02 Feb 2010 18:16:05 GMT)

Big four banks hold loan rates
The big four banks say they will hold standard variable home loan rates steady after the Reserve Bank mentioned bank mortgage rates as a major reason for leaving the cash rate unchanged. (Tue, 02 Feb 2010 18:46:30 GMT)

Mortgage troubles move upward
Regional foreclosure filings surged 63% in 2009, tripling the increases seen in California and the nation as mortgage trouble rippled into previously unaffected areas, according to a real estate report released Thursday. (Tue, 02 Feb 2010 18:47:56 GMT)

Treasury Weighs New Test for Loan Modifications, Official Says
The U.S. Treasury Department is considering changes to its “net present value” test used to determine whether lenders can write off mortgage principal for borrowers seeking more affordable loan terms. (Tue, 02 Feb 2010 18:51:36 GMT)

Home buyers' negotiating power gains: Zillow
Home buyers in much of the United States paid thousands of dollars below asking prices in December and for the first time in 11 months gained negotiating power, real estate website Zillow.com said on Tuesday. (Tue, 02 Feb 2010 19:18:10 GMT)

The Bell Tolls for Co-ops
Governor Paterson has a gift for Mayor Bloomberg in his proposed budget: more than $50 million a year from the under-tapped resource that is the city's co-op housing market. In the governor's cross hairs are loans for co-ops, which have long been free of taxation while taxes on equivalent condos and houses run between 2.05 percent and 2.175 percent of any mortgage. The budget seeks to allow the ... (Tue, 02 Feb 2010 19:32:18 GMT)

Australian Mortgage Defaults to Climb on Rate Rises, Fitch Says
Feb. 3 (Bloomberg) -- Rising interest rates will trigger defaults on Australian home loans and commercial mortgages, causing deterioration in the quality of assets underpinning mortgage-backed bonds, according to Fitch Ratings. (Tue, 02 Feb 2010 19:43:32 GMT)

Mortgage Rates Hold Steady; Current 30-Year Fixed Rate is 4.87%, According to Zillow Mortgage Rate Ticker
Thirty-year fixed mortgage rates on Zillow Mortgage Marketplace are currently 4.87 percent, up two basis points from 4.85 percent at this time last week. The 30-year fixed mortgage rates hovered between 4.80 and 4.90 percent for most of the past week, peaking just above 4.90 percent on Sunday. (Tue, 02 Feb 2010 20:05:00 GMT)

Pastors Charged With Mortgage Fraud
State prosecutors say a small church in New Castle County is at the center of a mortgage rescue fraud scheme. (Tue, 02 Feb 2010 20:36:56 GMT)

Football's quandary: When a loan is the best way to avoid debt
It seems somewhat ironic that in these tough economic times, caused in many ways by bad credit, the best way to sum up football's latest transfer window is the word "loan." (Tue, 02 Feb 2010 20:46:03 GMT)

Could Cars Have Contributed to Mortgage Meltdown?
Study of foreclosures in three cities finds those who don't have access to mass transit and are more dependent on the cars they own are more likely to default on their mortgage. (Tue, 02 Feb 2010 20:55:31 GMT)

Could Cars Have Contributed to Mortgage Meltdown?
Study of foreclosures in three cities finds those who don't have access to mass transit and are more dependent on the cars they own are more likely to default on their mortgage. (Tue, 02 Feb 2010 21:15:45 GMT)

Big banks hold loan rates steady
The big four banks say they will hold standard variable home loan rates steady. (Tue, 02 Feb 2010 22:57:06 GMT)

Australian Mortgage Defaults to Climb on Rate Rises, Fitch Says
Feb. 3 (Bloomberg) -- Rising interest rates will trigger defaults on Australian home loans and commercial mortgages, causing deterioration in the quality of assets underpinning mortgage-backed bonds, according to Fitch Ratings. (Tue, 02 Feb 2010 23:43:45 GMT)

10 Dade residents charged with mortgage fraud
Ten Miami-Dade residents were charged in a $24 million mortgage fraud scheme late last month. Those indicted are Yamil L. Herrera, 38, Alain C. Hernandez, 41, Ricelda M. Hernandez, 44, Maria G. Herrera, 40, Samantha Portales, 43, Edel Martinez, 37, Osiris Garcia, 41, Silvio De Paz, 46, all of Miami; and Ana G. Blanco, 35 and Luis R. Martinez, 42, both of Hialeah. (Tue, 02 Feb 2010 23:44:48 GMT)

Del. pastors charged with mortgage fraud
State prosecutors say a small church in New Castle County is at the center of a mortgage rescue fraud scheme. (Wed, 03 Feb 2010 00:17:19 GMT)

Bank of China raises mortgage rates -paper
BEIJING, Feb 3 (Reuters) - Bank of China , the country's third largest bank by market capitalisation, has raised mortgage rates offered to first-home buyers, the Beijing News reported on Tuesday. (Wed, 03 Feb 2010 02:37:49 GMT)

Foreclosure counseling available
A major owner of distressed mortgages has arranged with a nonprofit counseling center in Ontario to screen its delinquent clients in Riverside and San Bernardino counties to see if their homes can be saved from foreclosure with help from the Obama administration's mortgage refinancing and modification program. (Wed, 03 Feb 2010 02:39:47 GMT)

China's ICBC says no change in discount mortgage rates
BEIJING, Feb 3 (Reuters) - Industrial & Commercial Bank of China (ICBC) , the world's biggest bank by market capital, said its preferential mortgage rates for first-home buyers remains unchanged. (Wed, 03 Feb 2010 03:10:11 GMT)

Bank of China pulls back preferential mortgage policy
BEIJING, Feb 3 (Reuters) - Bank of China , the country's third-largest bank by market capitalisation, said on Wednesday it had cut a discount on mortgage rates offered to home buyers, in an effort to optimise lending structures. (Wed, 03 Feb 2010 03:35:55 GMT)

(AFX UK Focus) 2010-02-03 03:51 Bank of China pulls back preferential mortgage policy
BEIJING, Feb 3 (Reuters) - Bank of China, the country's third-largest bank by market capitalisation, said on Wednesday it had cut a discount on mortgage rates offered to home buyers, in an effort to optimise lending structures. Beijing allowed lenders to offer 30 percent discount on mortgage rates to first-home buyers in late 2008 to boost property sales at the height of the global financial ... (Wed, 03 Feb 2010 04:13:36 GMT)

Loan assistance available through Dept. of Agriculture
Midland County residents in need of a loan to either buy or repair a home might qualify for help from from the U.S. Department of Agriculture. (Wed, 03 Feb 2010 06:36:14 GMT)

More U.S. consumers pay credit card before mortgage: study
More and more U.S. consumers are giving greater priority to paying credit card debt than making a mortgage payment, showing increased financial duress, according to a report released on Wednesday. (Wed, 03 Feb 2010 08:43:21 GMT)

Palm Desert expands energy loan program
There will be no early-morning lines at Palm Desert City Hall on Monday when the city restarts its energy loan program with $6 million and new rules so more residents can apply. (Wed, 03 Feb 2010 09:37:47 GMT)

On loan Robinho wants permanent move to home club Santos
London, Feb 3 : Ace striker Robinho has admitted that he would love to make his loan move to Santos permanent. (Wed, 03 Feb 2010 09:46:59 GMT)

Which type of mortgage is best?
Shopping for a mortgage? Ask these questions about type of loan to fees and interest. (Wed, 03 Feb 2010 11:00:00 GMT)

Chinese mortgage rates rise as loan clampdown bites
BEIJING: A major Chinese bank has raised mortgage rates in one of the first signs of how a government lending clampdown is rippling through the economy and could tame turbo-charged growth but spook investors, according to Reuters. (Wed, 03 Feb 2010 11:31:26 GMT)

U.S. mortgage demand at six-week highs on refinance wave
Demand for U.S. home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday, (Wed, 03 Feb 2010 12:07:36 GMT)

Week-to-week mortgage applications up 21%: MBA
Applications filed for home loans for the week ended Jan. 29 increase a seasonally adjusted 21% from the week before, Mortgage Bankers Association data show. But the trade group expects rates on mortgages to drift higher as the Federal Reserve makes good on its vow to end purchases of mortgage-backed securities next month. (Wed, 03 Feb 2010 12:15:40 GMT)

Mortgage demand at six-week highs on refinance wave
Demand for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday, (Wed, 03 Feb 2010 12:26:59 GMT)

Mortgage demand at six-week highs on refinance wave
By Lynn Adler (Wed, 03 Feb 2010 12:26:59 GMT)

(AFX UK Focus) 2010-02-03 12:25 STOCKS NEWS US-Mortgage demand at 6-week high on refinance wave
Stocks on the move (Wed, 03 Feb 2010 12:42:59 GMT)

More consumers pay credit card before mortgage: study
More and more consumers are giving greater priority to paying credit card debt than making a mortgage payment, showing increased financial duress, according to a report released on Wednesday. (Wed, 03 Feb 2010 12:57:41 GMT)

Home loan wars
A NEW generation of lenders are set to challenge the major banks, with three players flagging big moves on discount home loans. (Wed, 03 Feb 2010 13:00:00 GMT)

Laurel man pleads guilty in mortgage fraud case
A Laurel man pleaded guilty Tuesday in a mortgage fraud case that left a lender with a $428,000 loss, the federal government said. Olu Campbell, 29, formerly known as Oluseun Oshosanya, was once a loan officer and a building contractor and used that background to engineer three fraudulent purchases of Baltimore homes in 2008. In two of the cases, Campbell and an associate applied for mortgages ... (Wed, 03 Feb 2010 13:01:36 GMT)

U.S. MBA Mortgage Applications Index Increased 21% Last Week
Feb. 3 (Bloomberg) -- The number of mortgage applications in the U.S. rose 21 percent last week to the highest level in more than a month as refinancing rebounded. (Wed, 03 Feb 2010 13:10:35 GMT)

Mortgage Applications Increased 21%
The number of mortgage applications in the U.S. rose 21 percent last week to the highest level in more than a month as refinancing rebounded. (Wed, 03 Feb 2010 13:21:56 GMT)

Mortgage Demand at Six-Week Highs on Refinance Wave
A report from the Mortgage Bankers Association, showed demand for home loans hit a six-week high. (Wed, 03 Feb 2010 14:03:13 GMT)

Mortgage Demand Jumps 21 Percent As Refinancing Spikes
(RTTNews) - Demand for U.S. mortgages jumped to its highest levels in more than a month last week, rising 21 percent as demand for refinance applications spiked, according to the Mortgage Bankers Association. (Wed, 03 Feb 2010 14:08:55 GMT)

Mortgage demand at six-week highs on refinance wave
NEW YORK (Reuters) - Demand for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association... (Wed, 03 Feb 2010 14:52:05 GMT)

Study: Consumers Pay Credit Card Before Mortgage
A new study shows that consumers give greater priority to paying credit card debt than making a mortgage payment, (Wed, 03 Feb 2010 15:47:55 GMT)

Mortgage activity rises in week
WASHINGTON, Feb. 3 (UPI) -- The volume of applications for U.S. mortgages rose 21 percent in a week on a seasonally adjusted basis, an industry group said Wednesday. (Wed, 03 Feb 2010 16:23:31 GMT)

2 more sentenced in Indy mortgage fraud scheme
Two men have been sentenced for their roles in an Indianapolis mortgage fraud scheme. A federal judge sentenced 46-year-old Kevin Lafavers to nearly three years in prison and ordered him to pay $1.5 million in restitution Tuesday. (Wed, 03 Feb 2010 16:45:10 GMT)

Guilty Verdict in San Francisco Mortgage Fraud Case
One mortgage fraud prosecution has shown, once again, why the feds just love wiretaps. Judy Yeung, the former head of American Educational Foundation International, was found guilty Tuesday on several counts of wire fraud and witness tampering. According to juror Ken Hughes, the government's key witnesses had varying credibility issues because of their history of deception before cooperating ... (Wed, 03 Feb 2010 18:30:30 GMT)

Banks to review teaser home loan plans in March
The country’s top lenders today said they would review the future of fixed-cum-floating rate schemes in March. (Wed, 03 Feb 2010 18:30:43 GMT)

Low-income families to get home-buying help
Published: Feb 3, 2010 - UPDATED: 1:52 p.m. Twenty low-income families in East Baton Parish will get help with closing costs and down payments through a $200,000 Federal Home Loan of Bank of Dallas grant program overseen by Habitat For Humanity. (Wed, 03 Feb 2010 20:03:31 GMT)

More moving mortgage bill to bottom of pile
More and more consumers are giving greater priority to paying credit card debt than making a mortgage payment, showing increased financial duress, according to a report. (Wed, 03 Feb 2010 20:36:15 GMT)

Lender Processing Services' January 2010 Mortgage Monitor Report Shows Loan Delinquency Rates Have Surpassed 10 Percent
The January 2010 Mortgage Monitor report, released by Lender Processing Services, Inc. , a leading provider of mortgage performance data and analytics, showed that home loan delinquency rates in the U.S. have now surpassed 10 percent. (Wed, 03 Feb 2010 21:05:00 GMT)

Mortgage demand at six-week highs on refinance wave
A growing number of couples are receiving funds from parents or grandparents to purchase a home. In the right situation, loaning mortgage money to family members can benefit both parties (Wed, 03 Feb 2010 21:06:24 GMT)

5 Reasons Why Refinancing May Be a Good Option Now
RISMEDIA, February 4, 2010—Mortgage experts from Bills.com, one of the leading resources for free, objective and expert money advice, advised that consumers considering a home refinance should begin the process now. Further, the company reported that the most frequently asked question… (Wed, 03 Feb 2010 21:34:33 GMT)

Plan to cut mortgage principal pitched to Congress
A group of influential mortgage investors is intensifying efforts to encourage a new phase to U.S. housing stability plans that would give homeowners ability and incentive to pay their loans. (Wed, 03 Feb 2010 22:33:53 GMT)

Investor Convicted Of Fraud, Witness Tampering In Mortgage Scheme
SAN FRANCISCO -- A San Francisco real estate investor has been convicted in federal court of fraud and witness tampering in connection with a $6.5 million mortgage loan scheme. (Wed, 03 Feb 2010 23:10:40 GMT)

Consumers paying credit card over mortgage
When faced with a financial crisis, consumers more often are opting to pay their credit-card bills first before turning to their mortgage payments, according to a report released by Trans Union Wednesday. (Wed, 03 Feb 2010 23:11:58 GMT)

US mortgage demand rises
NEW YORK - DEMAND for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday. Applications to buy homes and refinance loans jumped last week to mid-December levels as average 30-year mortgage rates held near 5 per cent. (Thu, 04 Feb 2010 00:51:28 GMT)

Love Funding Closes $7,958,400 Refinance Loan for Dogwood Forest of Dunwoody Assisted Living Facility
Detroit , Mich. , Feb. 3, 2010… Love Funding, a national mortgage-banking firm, is pleased to announce the closing of a $7,958,400 refinance loan for Dogwood Forest of Dunwoody, an assisted living facility located in Sandy Springs , Ga. Mickey Rist, Senior Loan Originator in Love Funding’s Detroit office, and Bruce Gerhart, Midwest Regional Manager in Love Funding’s Cleveland office, originated ... (Thu, 04 Feb 2010 01:38:11 GMT)

Tulare County Mortgage hosts Time Home buyer's fair
Tulare County Mortgage Services will be hosting a free first time home buyer’s fair, 6:30-7:30 p.m. Feb. 16 at 144 S. L St., Tulare. One hour seminar given by Sharon O Shiman and Debbie Warkentin will provide information on qualifying for a mortgage loan. (Thu, 04 Feb 2010 02:11:08 GMT)

Chinese bank up mortgage rates
BEIJING: A major Chinese bank has raised mortgage rates in one of the first signs of how a government lending clampdown is rippling through the economy and could tame turbo-charged growth but spook in... (Thu, 04 Feb 2010 02:59:13 GMT)

USDA triples direct loan funds available for low income families buying homes
The local USDA Rural Development office is looking for very low and low-income families to qualify for a home loan. (Thu, 04 Feb 2010 04:47:30 GMT)

Mitsubishi UFJ Shares Fall as Bad-Loan Charges Rise (Update2)
Feb. 4 (Bloomberg) -- Mitsubishi UFJ Financial Group Inc. , Japan’s largest bank by market value, declined in Tokyo trading as bad-debt charges rose at a unit in California and a consumer- lending subsidiary at home. (Thu, 04 Feb 2010 04:55:40 GMT)

Loan program being modified
Amid criticism that loan modification programs aren't working, the federal government is pushing lenders to streamline efforts to lower mortgage payments for troubled borrowers. (Thu, 04 Feb 2010 05:00:00 GMT)

Help! I cant pay my home loan
What to do if you cant afford your mortgage payments. (Thu, 04 Feb 2010 09:12:56 GMT)

Shanghai Bad-Loan Ratio Would Triple With 10% Home Price Drop
Feb. 4 (Bloomberg) -- Shanghai banks ’ ratio of delinquent mortgages would almost triple should prices in China’s second- most expensive property market fall 10 percent, according to the nation’s banking regulator. (Thu, 04 Feb 2010 09:59:54 GMT)

Live chat: Will loan rates move up post CRR hike?
Home loan chat with Harsh Roongta (Thu, 04 Feb 2010 10:46:10 GMT)

Mortgage rates up for first time in 2010
Mortgage rates rose a bit, and deadlines loom for the homebuyer tax credits and Fed actions. (Thu, 04 Feb 2010 11:00:00 GMT)

USDA triples direct loan funds available for low income families buying homes
The local USDA Rural Development office is looking for very low and low-income families to qualify for a home loan. (Thu, 04 Feb 2010 11:19:08 GMT)

Mortgage rates up for first time in 2010
For the first time this year, mortgage rates went up in Bankrate's weekly survey. The benchmark 30-year fixed-rate mortgage rose 2 basis points this week, to 5.15 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. (Thu, 04 Feb 2010 11:42:00 GMT)

Bankrate: Mortgage Rates Inch Higher
The streak of four straight weekly declines in mortgage rates was broken this week. According to Bankrate.com's weekly national survey, the average conforming 30-year fixed mortgage rate rose to 5.15 percent. (Thu, 04 Feb 2010 12:30:00 GMT)

Mortgage Rates Inch Higher: Bankrate
Mortgage Rates Inch Higher: Bankrate (Thu, 04 Feb 2010 13:03:52 GMT)

Cumbrian MP repays mortgage interest cash
Workington MP Tony Cunningham has repaid £2,718 in mortgage interest that he received in Parliamentary expenses for his London flat. (Thu, 04 Feb 2010 13:10:12 GMT)

GMAC Reports Record Loss on Home Mortgage Defaults (Update2)
GMAC Inc., the auto and home lender controlled by the U.S. government, posted a record quarterly net loss, driven by the declining value of mortgage assets. (Thu, 04 Feb 2010 14:23:44 GMT)

Freddie Mac: Benchmark Mortgage Rate Up To 5.01%
Freddie Mac: Benchmark Mortgage Rate Up To 5.01% (Thu, 04 Feb 2010 15:28:09 GMT)

Mortgages: 30-year mortgage climbs above 5%
Rates on fixed-rate mortgages rose slightly this week, with the 30-year fixed-rate mortgage averaging just higher than 5%, according to Freddie Mac's weekly survey of conforming mortgage rates. (Thu, 04 Feb 2010 15:46:50 GMT)

Report finds loan delinquencies soaring
JACKSONVILLE, Fla. — The January 2010 Mortgage Monitor report, released by Lender Processing Services Inc. (LPS), showed that home loan delinquency rates in the U.S. have now surpassed 10 percent. (Thu, 04 Feb 2010 15:58:45 GMT)

Mortgage Rates on 30-Year U.S. Loans Rise to 5.01% (Update2)
Feb. 4 (Bloomberg) -- Mortgage rates in the U.S. rose for the first time in five weeks, threatening to slow the housing market’s recovery as government incentives near expiration. (Thu, 04 Feb 2010 16:00:53 GMT)

Holloway Lodging Real Estate Investment Trust Announces $10.5 Million Mortgage Refinancing
Holloway Lodging Real Estate Investment Trust announced today that it has obtained commitments to refinance mortgages on its Radisson Suite Hotel Halifax and Holiday Inn Express Halifax properties in Nova Scotia . (Thu, 04 Feb 2010 16:23:00 GMT)

Mortgage rates edge up slightly
Rates on 30-year fixed mortgages rose slightly this week, inching above 5 percent, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage was 5.01 percent this week, up from 4.98 percent last week. (Thu, 04 Feb 2010 16:54:25 GMT)

Mortgage rates edge up slightly
Rates on 30-year fixed mortgages rose slightly this week, inching above 5 percent, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage was 5.01 percent this week, up from 4.98 percent last week. Last year at this time, the average rate for... Mortgage - Freddie Mac - Fixed rate mortgage - Tax rate - Business (Thu, 04 Feb 2010 17:15:39 GMT)

GMAC Reports Record Loss on Home Mortgage Defaults (Update2)
Feb. 4 (Bloomberg) -- GMAC Inc. , the auto and home lender controlled by the U.S. government, posted a record quarterly net loss, driven by the declining value of mortgage assets. (Thu, 04 Feb 2010 18:46:01 GMT)

UPDATE:SEC Settles With State Street On Subprime Mortgage Charges
UPDATE:SEC Settles With State Street On Subprime Mortgage Charges (Thu, 04 Feb 2010 19:13:29 GMT)

Turf loan a go
BATH — By the slimmest of margins Wednesday night, the Bath City Council authorized a $300,000 loan to help fund the installation of artificial turf at McMann Field, home of several Morse High School sports teams. (Thu, 04 Feb 2010 20:04:04 GMT)

Loan Modification Denied By Chase For Now Barred Reason
What's Your Reaction? On the Saturday before Thanksgiving, Lesa Herron of Santa Rosa, Calif., opened a letter from Chase Home Finance. She'd been denied a permanent modification under the federal government's loan-mod program, Chase said, because "Your hardship is not of a permanent nature." (Thu, 04 Feb 2010 20:15:50 GMT)

Economy Rockford: The Clock is Ticking on Refinancing at Record Low Rates
Studies show roughly three out of four mortgage applications were for refinancing during much of December. (Thu, 04 Feb 2010 21:13:47 GMT)

Mortgage investors try to regroup after meltdown
The financial wizards who concocted the complicated mortgage-linked investments that nearly brought down the world economy are trying to come back from the dead. (Thu, 04 Feb 2010 21:22:53 GMT)

Mortgage investors try to regroup after meltdown
The financial wizards who concocted the complicated mortgage-linked investments that nearly brought down the world economy are trying to come back from the dead. Thousands of them trooped to a conference center eight miles south of the nation's capital this... Mortgage - Business - Financial Services - United States - Investment (Thu, 04 Feb 2010 21:46:10 GMT)

2nd UPDATE:SEC Settles With State Street On Subprime Mortgage Charges
2nd UPDATE:SEC Settles With State Street On Subprime Mortgage Charges (Thu, 04 Feb 2010 21:58:09 GMT)

GMAC Reports Record Loss on Home Mortgage Defaults (Update3)
Feb. 4 (Bloomberg) -- GMAC Inc. , the auto and home lender controlled by the U.S. government, posted a record quarterly net loss, driven by the declining value of mortgage assets. (Thu, 04 Feb 2010 22:55:57 GMT)

How troubled mortgage insurer Radian redeemed itself
Tomorrow marks three years since Philadelphia mortgage insurer Radian Group Inc. announced a $5.5 billion deal to be bought by competitor MGIC Investment Corp. (Fri, 05 Feb 2010 00:02:00 GMT)

9 NYC Residents Targeted In Major Mortgage Scam
Imagine paying your mortgage off and then suddenly finding out you once again owe big bucks for your home. That's exactly what happened to a Brooklyn woman, and she's not alone. One of the victims scammed was Robert Booker. Another was senior citizen Jean Kemp. "I was furious. I was absolutely furious. I was upset and everything else," she told CBS 2. (Fri, 05 Feb 2010 00:26:56 GMT)

Turf loan a go
BATH — By the slimmest of margins Wednesday night, the Bath City Council authorized a $300,000 loan to help fund the installation of artificial turf at McMann Field, home of several Morse High School sports teams. (Fri, 05 Feb 2010 01:04:04 GMT)

Remodeling your home without home equity
Kelly Hess and her husband, David, spent $8,000 in April remodeling the outside of their Dallas house, and they paid for it without a home-equity loan. They tapped their “house savings account” to replace the roof and install an 8-foot-high wooden fence in the backyard of the four-bedroom brick ranch house they bought in 2006. The Hesses prove there are other ways to pay for home improvements ... (Fri, 05 Feb 2010 03:10:48 GMT)

Official says Fed might buy more mortgage-backed securities
The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, Federal Reserve Bank of New York President William C. Dudley said in two new interviews. (Fri, 05 Feb 2010 05:00:00 GMT)

Whitney in collaborative home ownership initiative
Whitney National Bank is participating in a collaborative effort with Habitat for Humanity and the Federal Home Loan Bank of Dallas to provide homeownership opportunities to low-income households in St. Tammany Parish. (Fri, 05 Feb 2010 06:36:53 GMT)

Mortgage rates up but still a deal
Long-term home mortgage rates inched up this week, but they're still at bargain levels.The average 30-year, fixed-rate mortgage climbed to 5.01 percent from 4.98 percent last week, mortgage giant Freddie Mac said Thursday.The average 15-year, fixed-rate mortgage edged up to 4.40 percent from 4.39 percent.Five-year, adjustable rate mortgages also rose to 4.27 percent from 4.25 percent, while the ... (Fri, 05 Feb 2010 10:15:49 GMT)

Mortgage activity soars
Mortgage applications shot up more than 21 percent last week, compared with the previous week, but were down about 11 percent from the same week last year, the Mortgage Bankers Association reported. (Fri, 05 Feb 2010 10:24:59 GMT)

Mortgage insurance won't last forever
Mortgage insurance premium payments will not hound a homeowner forever. (Fri, 05 Feb 2010 11:00:00 GMT)

Don't overlook tax break of mortgage points
Don't overlook the points you paid to get a lower mortgage rate. They can be a useful tax break. (Fri, 05 Feb 2010 11:00:00 GMT)

FSA Bans Mortgage Director for Failing to Separate Client Funds
Feb. 5 (Bloomberg) -- A director of a U.K. subprime mortgage company was banned from holding a senior financial position over claims that he failed to properly separate client accounts. (Fri, 05 Feb 2010 12:50:30 GMT)

Dark outlook for first home buyers
Analysts say first home buyers will find it harder to get a foothold in the residential property market. (Fri, 05 Feb 2010 12:55:05 GMT)

Match-winner Nathan's eager for home comforts
LIVERPOOL loan star Nathan Eccleston admits he is champing at the bit ahead of his Huddersfield Town home debut against Carlisle United tomorrow (kick-off 3pm. (05/02/2010) (Fri, 05 Feb 2010 13:11:04 GMT)

The hot housing and mortgage edition
Is it best to go with a variable-rate or fixed-rate mortgage, is there a bubble in home prices and a close-up of Vancouver and Toronto markets (Fri, 05 Feb 2010 13:14:25 GMT)

Georgia gov proposes creating mortgage fraud unit
The Georgia Bureau of Investigation could soon get the power to investigate allegations of mortgage fraud under a new proposal being pitched by Gov. Sonny Perdue. (Fri, 05 Feb 2010 16:25:09 GMT)

New refinancing trend is cash in instead of cash out
Thinking of cashing out some equity when you refinance your mortgage? That used to be what millions of homeowners did when they needed extra money. (Fri, 05 Feb 2010 17:52:28 GMT)

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