FORECLOSURE FUND: Offer up to $10 billion in government-backed mortgages for homeowners with burdensome post-2005 subprime loans on their primary residence. They would be eligible for new, manageable 30-year fixed-rate mortgages that reflect a home’s Read More

Shareholders of Countrywide Financial have voted for Bank of America ’s estimated $3 billion takeover of the struggling mortgage company. Many analysts and investors publicly wonder why Bank of America would buy the troubled mortgage lender, which Read More

DANNY BRAGG and his wife, Danika, who own a modern, four-bedroom home in San Bernardino County, are thinking of moving. They’re just not yet exactly sure where. He would like to go back to Texas, specifically to the Woodlands, a town less than 30 Read More

When Congress started fashioning a sweeping rescue package for struggling homeowners earlier this year, 2.6 million loans were in trouble. But the problem has grown considerably in just six months and is continuing to worsen. More than three million Read More

State charges five with mortgage fraud Boston Globe, United States - 18 hours ago State investigators yesterday said they broke up a mortgage fraud ring that involved bank employees creating fictitious or inflated account balances that … Massachusetts charges five in mortgage scam Reuters AG Coakley indicts five, including bankers, in alleged mortgage scam Bizjournals.com Five indicted for mortgage fraud Worcester Telegram MetroWest Daily News - Marshfield Mariner all 25 news articles

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Mortgage stress to hit 1m homes Sydney Morning Herald, Australia - 8 hours ago ALMOST one in 10 Australian households is suffering from mortgage stress, with the figure predicted to come close to 1 million homes within three months. … 900000 households face mortgage stress The Age all 107 news articles

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Reading mortgage broker asking court for leniency Lebanon Daily News, PA - 8 hours ago A former mortgage broker who pleaded guilty to fraud is asking a federal court for leniency. Seventy-two-year-old Wesley Snyder says a significant jail term …

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Mortgage Warehouse

This Mortgage Deal Will Tempt You Motley Fool UK, UK - Jun 27, 2008 But can the same be said of the Co-Op’s new three-year tracker mortgage? On the surface, this looks like a great deal. Not only is it fixed at 0.99% above … Bank launches new tracker mortgage - 27/06/2008 MoneyExpert Alliance and Leicester announce new tracker mortgage Mortgage Warehouse A&L launches tracker Mortgage Introducer Glasgow Daily Record - Moneyextra.com all 10 news articles

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TopNews

Lehman spent $190K lobbying on mortgage bills Forbes, NY - Jun 27, 2008 AP 06.27.08, 10:36 AM ET Lehman Brothers Holdings Inc. spent $190000 in the first quarter lobbying on several mortgage bills in Congress and other issues, … Congress passes Iraq war spending bill The Associated Press all 734 news articles

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What's next? Projects' future unclear after Mortgages Ltd. files … Bizjournals.com, NC - Jun 27, 2008 Now that Mortgages Ltd. has filed for Chapter 11 bankruptcy reorganization, there are questions in the real estate community about what might happen to some …

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Editorial: California must lead, not follow, on mortgages Sacramento Bee,  USA - 15 hours ago The current home mortgage meltdown has roots in the 1980s when Congress and the president deregulated the nation's financial institutions. …

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Home Move

House sales tumble as mortgages dry up Telegraph.co.uk, United Kingdom - Jun 27, 2008 Sales of homes below £200000 in London fell by more than 60pc, as banks and building societies withdrew their most generous mortgages and increased their … House sales fall by 50% guardian.co.uk British housing sales plunge 50 per cent Times Online Official figures show stagnant housing market Money High Street all 49 news articles

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Mortgages: cost of fixed-rate deals rises Telegraph.co.uk, United Kingdom - 19 hours ago By Daily Telegraph reporter Three major lenders have put up their mortgage rates as the cost of fixed-rate deals continued to rise. …

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Home Move

House sales tumble as mortgages dry up Telegraph.co.uk, United Kingdom - 19 hours ago Sales of homes below £200000 in London fell by more than 60pc, as banks and building societies withdrew their most generous mortgages and increased their … House sales fall by 50% guardian.co.uk British housing sales plunge 50 per cent Times Online Official figures show stagnant housing market Money High Street all 46 news articles

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Fitch may cut Wachovia's "AA-minus" debt rating Reuters - 16 hours ago N: Quote, Profile, Research), citing the bank's exposure to troubled mortgages in the battered California housing market. Though Wachovia built its loan … Fitch Mulls Wachovia Downgrade Wall Street Journal Wachovia Faces Fitch Ratings' Cut Tied to Home Loans (Update2) Bloomberg Fitch places Wachovia on review for downgrade Forbes Business Wire (press release) all 16 news articles

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Five indicted in alleged mortgage fraud Bizjournals.com, NC - 10 hours ago The eight-count indictment handed up Thursday alleged that the group "schemed to defraud mortgage lenders by submitting fraudulent loan applications in the … Attorney: 5 Charged In Mortgage Fraud Case KCRA.com all 7 news articles

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Mortgages Rise Slightly Wall Street Journal - Jun 26, 2008 WASHINGTON — Home-mortgage rates drifted up this week, with adjustable-rate mortgages climbing the most, Freddie Mac reported Thursday. … Business events scheduled for the coming month Forbes Rates on 30-year mortgages rise to 6.45 percent The Associated Press Mortgage Rates Inch Even Higher TheStreet.com Reuters - United Press International all 150 news articles

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WASHINGTON (AP) - The Investment Company Institute spent almost $1.6 million in the first quarter to lobby on measures to address the housing and credit crises, and other issues, according to a recent disclosure form. The trade group lobbied on Read More

Massachusetts securities regulators levied civil charges of fraud and dishonest conduct against UBS AG’s investment-banking and brokerage divisions, the first allegations to come out of the bevy of state and federal investigations into the breakdown Read More

WASHINGTON - Congress expected to be on break until July 8; Treasury bill auction. KANSAS CITY, Mo. - H&R Block Inc. releases fourth-quarter financial results. TUESDAY, July 1 NEW YORK - The Institute for Supply Management releases its manufacturing Read More

Forty-eight workers at HSBC Mortgage Services’ Chesapeake facility are losing their jobs. HSBC Mortgage Services notified state officials of the layoffs this week. The notice says the layoffs are effective Aug. 17 and are due to a permanent reduction Read More

MSN Money UK

As bad as it gets: mortgage expert lets a ray of light into the … guardian.co.uk, UK - Jun 25, 2008 Britain's mortgage market appears to be in meltdown, with first-time buyers going on strike and lenders joining them. Only a week ago, First Direct was … Major lenders raise mortgage rates The Press Association Fixed-rate home loans hit 10-year high Telegraph.co.uk Rates on two-year fixed mortgages top 7% Finance Markets guardian.co.uk - The Press Association all 41 news articles

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Ill. sues mortgage lender over misleading mortgages St. Louis Post-Dispatch,  United States - Jun 25, 2008 By Michael Sorkin Thousands of consumers signed mortgages they did not understand, could not afford and could not get out of, Illinois Attorney General Lisa … Beyond FoA: What’s Fair When Granting Favors to Friends and Family? Wall Street Journal Blogs Bank of America to cut 7500 jobs post-merger Reuters Countrywide faces lawsuit over 'deceptive' US sub-prime lending guardian.co.uk Reuters - guardian.co.uk all 1,625 news articles

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C-Ville Weekly

Spotlight: Credit and home values CNNMoney.com - 3 hours ago With delinquencies and defaults still rising _ especially for mortgages given to customers with poor credit _ prime mortgages following Fannie Mae and … Fannie Mae, Freddie Mac portfolios jump, for now guardian.co.uk Approval Is Near for Bill to Help US Homeowners New York Times UPDATE 2-Fannie Mae, Freddie Mac portfolios jump, for now Reuters Inman.com (subscription) - Builder Magazine all 180 news articles

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CHARLOTTE, N.C. — Bank of America said Thursday it will cut about 7,500 jobs after it closes its acquisition of mortgage lender Countrywide Financial Corp. The job cuts amount to about 12.5 percent of the combined companies’ mortgage, home equity Read More

(AP) - Rising defaults and foreclosures and an oversupply of homes are more likely to stunt a real estate recovery than tighter mortgage standards, lenders say. “I think improvement (in the real estate market) can occur while standards are still this Read More

Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures. Freddie Mac, the mortgage company, reported Read More

CALABASAS, Calif./BANGALORE, June 25 (Reuters) - Countrywide Financial Corp shareholders approved on Wednesday the company’s merger with Bank of America Corp, even as the largest U.S. mortgage lender faced at least two state lawsuits targeting its Read More

With Michigan at the forefront of the nation’s housing predicament, it’s not surprising that the Legislature is looking for easy answers to the problem before it slides into its summer recess. There are currently 11 lending-related bills awaiting Read More

HSBC Mortgages to lay off 48 in Chesepeake The Associated Press - 7 hours ago (AP) — Forty-eight workers at HSBC Mortgage Services' Chesapeake facility are losing their jobs. HSBC Mortgage Services notified state officials of the …

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Los Angeles Times

Ill. sues mortgage lender over misleading mortgages St. Louis Post-Dispatch,  United States - Jun 25, 2008 By Michael Sorkin Thousands of consumers signed mortgages they did not understand, could not afford and could not get out of, Illinois Attorney General Lisa … At Countrywide's End, an Emotional CEO BusinessWeek Bank of America to cut 7500 jobs post-merger Reuters Countrywide faces lawsuit over 'deceptive' US sub-prime lending guardian.co.uk Forbes - Charlotte Observer all 1,477 news articles

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Mortgage Rates Inch Even Higher TheStreet.com - 9 hours ago Mortgage rates inched up again over the past week as the markets questioned whether the Federal Reserve would lift its key interest-rate target to thwart … US 30-year mortgage rates rise slightly this week Reuters US mortgage rates rise: Freddie Mac MarketWatch US mortgage rates up slightly last week United Press International Housing Wire - KMEG 14 all 122 news articles

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