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Read the latest Mortgage market news. Learn about mortgage rate changes, mortgage programs and new mortgage market players. Stay informed to know what to expect from the lender and what the lender will expect from you.
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Mortgage News
.Tue, 18 Nov 2008 17:58:09 GMTPaulson says bailout not for mortgage guarantees (AP via Yahoo! News) Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring home foreclosures.
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.Tue, 18 Nov 2008 20:12:31 GMTIllinois AG Madigan sues mortgage rescue firms (AP via Yahoo! Finance) Illinois Attorney General Lisa Madigan is warning struggling homeowners about mortgage rescue companies. Madigan on Tuesday announced that she's filed seven new lawsuits against businesses she says offered false hope to homeowners trying to keep their homes.
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.Wed, 19 Nov 2008 04:17:27 GMTSave on Your Home Mortgage (KAMR Amarillo)AMARILLO -- The housing market has crashed around the rest of the country. But here in Amarillo, the market's great. We're considered the fourth best real estate market in the nation. And you can get an even better deal by saving on your mortgage. We have some Smart Money tips.
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.Tue, 18 Nov 2008 11:23:53 GMTBank Bond Risk at One-Month High as TARP Hurts Mortgage Assets (Bloomberg)Nov. 18 (Bloomberg) -- The cost of protecting bank bonds from default rose to the highest in almost a month as prices of mortgage-linked securities tumble following Treasury Secretary Henry Paulson's changes to the Troubled Asset Relief Program.
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.Tue, 18 Nov 2008 20:18:05 GMTHSBC closing wholesale mortgage business, cutting 225 jobs in Depew (The Buffalo News)HSBC Mortgage Corp. is shutting down its wholesale and correspondent lending division, cutting 225 local jobs as it shifts its focus to direct lending to consumers instead of through brokers.
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.Tue, 18 Nov 2008 18:31:14 GMTSuthers cracks down on mortgage ads (BizJournals)Three Colorado mortgage brokers have reached settlements with state Attorney General John Suthers to end what Suthers called the “deceptive use of teaser rates in mortgage-loan advertisements” in Denver newspapers.
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.Tue, 18 Nov 2008 22:22:22 GMTAG Madigan sues mortgage rescue firms (ABC 7 Chicago)Struggling homeowners should be warned about mortgage rescue companies, according to Attorney General Lisa Madigan.
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.Tue, 18 Nov 2008 22:22:12 GMTCutbacks Announced at HSBC Mortgage Corporation (WGRZ-TV Buffalo)More bad news for the Western New York economy with the announcement Tuesday of layoffs in the local mortgage industry. HSBC Mortgage Corporation (USA) gave 225 employees 60 days notice that their positions are being eliminated.
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.Wed, 19 Nov 2008 01:32:32 GMTMortgage broker sentenced to year's home confinement (News Transcript)AFreehold mortgage broker was sentenced to 12 months of home confinement as part of a five-year term of probation on Nov. 13 for his guilty plea to a charge of bank fraud for submitting fraudulent documents in support of a $367,500 residential mortgage loan application, U.S. Attorney Christopher J. Christie announced.
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.Tue, 18 Nov 2008 16:59:00 GMTThorpe enters mortgage game (Daily Telegraph)OLYMPIAN Ian Thorpe has become a mortgage broker with a business that makes banks bid for your home loans.
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