Mortgages. Legal news and articles for October 31 - 31, 2011

Banks fit to pass on cash rates cutHickory man pleads guilty to mortgage fraudAlbertville Man Sentenced in Connection to Mortgage FraudFannie Mae: Mortgage Delinquencies Edge Down In SeptemberZillow Mortgage Marketplace to Launch on AOL Real Estate and DailyFinanceWall Street Halloweenies, old and newCommercial Mortgage Investors Have 'Reason to Smile', BofA SaysMortgages Still Out of Reach for Valley BuyersFederal Mortgage Overhaul Put on HoldWhat Mortgage is Best for You?Commercial Mortgage Investors Have 'Reason to Smile', BofA SaysBill Knight: Public health threatened by mortgage crisisMetLife Provides $725 Million in Financing for Manhattan Office BuildingsHARP Strikes A Sour ChordA realistic fix for the mortgage crisis

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Burlingame REALTOR Mary Ann Teixeira Says Fixed Rate Dip Below 4% May Motivate ...
San Francisco Chronicle (press release)October 3, 2011

With 30-year fixed mortgages rates still dropping, this is a great time to refinance-but is it a good time to buy? Mary Ann Teixeira believes these rock-bottom mortgage rates should be enticing to potential home buyers, especially renters. ...more »

Record Low Mortgage Rates Trigger Investors Jump in Real Estate
Housing PredictorOctober 3, 2011

Record low all-time mortgage rates combined with the lowest housing affordability rate in more than 20 years make it time to buy real estate for many investors. But if you're counting on getting a loan to make the deal work, obtaining a mortgage may be ...more »

Mortgages. News and Stories

Banks fit to pass on cash rates cut
Sydney Morning HeraldOctober 31, 2011

AUSTRALIA'S banks are flush with funds ahead of an expected cut in the Reserve Bank's cash rate today and in a position to pass on in full a saving to a typical mortgage holder of $49 a month. Prudential Regulation Authority figures show an extra $12.3 ...more »

Hickory man pleads guilty to mortgage fraud
Hickory Daily RecordOctober 31, 2011

According to a press release from the US Attorney's office, Bailey was involved with up to 154 HUD-insured mortgage loans from 2004 to 2008. Those loans were worth $16 million, and the losses surpassed $4.8 million. Bailey lured customers to Homes ...more »

Albertville Man Sentenced in Connection to Mortgage Fraud
Patch.comOctober 31, 2011

He received a $73000 kickback at closing (without AHCU's knowledge), and he took out second mortgages on two investment properties secured via phantom equity. The case against the three men was a result of investigation by the Internal Revenue ...more »

Fannie Mae: Mortgage Delinquencies Edge Down In September
Wall Street JournalOctober 31, 2011

Mortgage delinquencies on single-family homes edged down in September, according to a monthly report from mortgage market agency Fannie Mae (FNMA). September serious delinquencies on single-family residences fell to 4%, from 4.03% in August and 4.56% ...more »

Zillow Mortgage Marketplace to Launch on AOL Real Estate and DailyFinance
Sacramento BeeOctober 31, 2011

The sites' visitors will have easy access to important home financial information, such as mortgage calculators, real-time mortgage rates, and Zillow's innovative mortgage shopping experience, which allows users to compare personalized loan quotes and ...more »

Wall Street Halloweenies, old and new
Los Angeles TimesOctober 31, 2011

In another photograph, an arrow points the way to "Baum Estates" (perhaps the home of all those so-called zombie mortgages.) Other pictures show mock-ups of foreclosed homes. One young woman appears with a shopping cart and a sign, "WILL WORKE [FOR] ...more »

Commercial Mortgage Investors Have 'Reason to Smile', BofA Says
BusinessWeekOctober 31, 2011

Oct. 31 (Bloomberg) -- Securities tied to commercial property mortgages rose after European leaders reached an accord on the region's debt crisis and investors stepped up trading in lower-ranking bonds. The extra yield investors ...more »

Mortgages Still Out of Reach for Valley Buyers
LoanSafeOctober 31, 2011

Mortgage rates are hovering near historic lows, but that's offering little relief to Valley homeowners. Many of them have little or none of the equity that lenders require to refinance, mortgage brokers say. Mortgage interest rates reached an all-time ...more »

Federal Mortgage Overhaul Put on Hold
LoanSafeOctober 31, 2011

Jupiter homeowner Tony Tate wasted little time when a lower mortgage payment finally seemed within reach. He was on the phone with his lender less than 48 hours after President Obama flew to Las Vegas to tout a makeover of his Home Affordable Refinance ...more »

What Mortgage is Best for You?
Traverse City Record EagleOctober 31, 2011

If you're currently home shopping or planning to refinance, it's important to decide on a specific mortgage program. Let's take a look at some of the most popular loan programs out there to determine which will be the best fit for you. ...more »

Commercial Mortgage Investors Have 'Reason to Smile', BofA Says
BloombergOctober 31, 2011

Securities tied to commercial property mortgages rose after European leaders reached an accord on the region's debt crisis and investors stepped up trading in lower-ranking bonds. ...more »

Bill Knight: Public health threatened by mortgage crisis
Pekin Daily TimesOctober 31, 2011

Researchers warn of a looming health catastrophe in the wake of rising mortgage delinquencies and home foreclosures. The study is the first long-term survey of the effect the housing crisis is having on older Americans. Researchers focused on adults ...more »

MetLife Provides $725 Million in Financing for Manhattan Office Buildings
MarketWatch (press release)October 31, 2011

Through its real estate investments department, MetLife oversees a well diversified real estate portfolio of approximately $60 billion*, which is one of the largest in the US and consists of real estate equities, commercial mortgages and agricultural ...more »

HARP Strikes A Sour Chord
ForbesOctober 31, 2011

The interest rate on these mortgages in most instances is in excess of 6.5% but the homeowners do not qualify for refinancing at current interest rates as low as 4%. This means the homeowner is paying hundreds of dollars and in some instances thousands ...more »

A realistic fix for the mortgage crisis
Sacramento BeeOctober 31, 2011

President Obama recently announced that the federal government will take steps to reduce interest rates on mortgages for some existing homeowners. Unfortunately, that won't help millions of US homeowners already in foreclosure and ...more »

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