Result Page 61 for Mortgage news & latest pictures from ibtimes.com

In subprime mess, lenders of little help

Some borrowers with poor credit got little help, even as it became clear many would struggle to keep up with their payments.

New mortgage measure could help borrowers compare

Consumers could benefit from a new way to compare the cost of home loans. A dynamic annual rate (DAR) could bring greater transparency to the costs of servicing a mortgage, according to research published by the Council of Mortgage Lenders (CML).

Mortgage applications rise in latest week

Applications for home mortgages climbed for a third straight week as more borrowers sought to refinance loans on which payments may be about to rise, an industry group said on Wednesday.

Regulator relaxes Fannie, Freddie investment rules

Fannie Mae and Freddie Mac, the biggest sources of U.S. housing finance, can buy $20 billion more in subprime mortgages under rules unveiled on Wednesday to help revive a market crippled by tighter lending standards.

More news

Home loan demand rises as interest rates tumble

Mortgage applications rose for a second straight week, fueled by demand for home loans as interest rates sank to their lowest since May, an industry group's figures showed Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, rose 5.5 percent for the week ended September 7.

Deluge of mortgage interest rate resets ahead

Many less creditworthy borrowers may lose their homes when interest rates on a flood of adjustable-rate subprime mortgages reset next month.

Most broker customers couldn't refinance: poll

Some 57 percent of mortgage broker customers were unable to refinance their adjustable-rate loans to avoid higher monthly payments in August, suggesting the U.S. housing slump may worsen, according to a national survey on Tuesday.

H&R Block to fire 575 Option One mortgage staff

H&R Block Inc, the largest U.S. tax preparer, said on Tuesday it will fire 575 workers at its Option One Mortgage Corp subprime lending unit, on top of 615 job losses announced on May 15.

Fannie, Freddie abide by subprime rules

Mortgage finance giants Fannie Mae and Freddie Mac are abiding by rules that require them to avoid buying risky subprime loans, the companies' regulator said on Monday.

IndyMac Bancorp to cut 1,000 jobs

IndyMac Bancorp Inc, one of the largest independent U.S. mortgage lenders, plans to cut 1,000 jobs and halve its dividend, and may report a third-quarter loss, as loan volumes decline and credit markets remain tight.

Lehman to fire another 850 workers in mortgages

Lehman Brothers Holdings Inc said on Thursday it will fire another 850 workers, or about 3 percent of its work force, as it scales back its mortgage lending efforts globally.

Mortgages entering foreclosures at record high

The rate of home loans entering the foreclosure process rose to a record high in the second quarter of 2007, driven largely by failing subprime mortgages, an industry trade group said on Thursday.

Collapse of an Empire

Flips and scams blamed in Southern Californian housing decline

Accredited Home soars 43 pct on new takeover bid

Accredited Home Lenders Holding Co shares rose 43 percent on Friday after Lone Star Funds said it was prepared to buy the subprime mortgage lender at a lower price than it previously agreed to pay.

Jumbo mortgage troubles push ARM rates higher

Concerns about creditworthiness in the U.S. mortgage market have helped to push up rates on so called jumbo mortgages, and rates on adjustable-rate mortgages saw a record rise this week.

Subprime inflicts new damage as banks seek cash

New evidence of damage wrought by the U.S. mortgage sector surfaced in the United States and Europe on Wednesday while banks demanded a record amount of cash at a euro zone money market auction.

Home loan demand slumps despite lower rates

U.S. mortgage applications fell for a second consecutive week, reflecting a drop in demand for home purchase and refinancing loans even as interest rates sank, an industry group said on Wednesday.

CIT Group closes mortgage unit, takes charge

CIT Group Inc, the consumer and commercial finance company, on Tuesday said it has closed its mortgage lending operations, the latest to abandon the sector amid difficult market conditions.

Flips and scams blamed in California housing decline

Bhaviesh and Varsha Shah bought their dream home in a new development east of Los Angeles two years ago, planted flowers around an emerald lawn and picked out wicker furniture for sitting outside on cool afternoons.

Subprime crisis will boost mortgage insurers

Private mortgage insurance firms that saw their business shrivel during the subprime lending bonanza of 2005-2006 are set to win back market share if they can weather the current mortgage crisis.

Mortgage crisis widens at Accredited, HSBC, Lehman

The U.S. mortgage and credit crisis deepened on Wednesday, as Accredited Home Lenders Holding Co, HSBC Holdings Plc and Lehman Brothers Holdings Inc announced a total of 3,400 job cuts, as concern mounted about the longer-term impact on the economy.

Fed cash not reaching mortgage players forcing sales

The Federal Reserve's attempts to provide liquidity in the past few days are not reaching the players who need it since they cannot borrow directly from the central bank, leaving the $7.2 trillion U.S. mortgage bond market struggling to clear the volumes being offered.

Toll Brothers quarterly profit falls sharply

Toll Brothers on Wednesday reported sharply lower quarterly profit amid tightening credit standards that the builder said would likely to shrink the number of potential home buyers.

Accredited Home halts lending, to cut 1,600 jobs

Accredited Home Lenders Holding Co said on Wednesday it has stopped taking loan applications and will cut 1,600 jobs, citing turmoil in the subprime mortgage industry. Accredited said it will close substantially all of its retail lending business, consisting of 60 branches and five central support operations.

MORTGAGE

Pages