MORTGAGE LOANS NEWS & INFORMATION
Monday, January 05, 2009
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LATEST MORTGAGE LOANS NEWS:

Mortgage rationing gets tougher
Mortgage lenders are continuing to demand larger deposits as they ration home loans to their customers.

Jumbo mortgage loan rates put damper on refinancing
While plunging mortgage rates have spawned a frenzy of refinancing, borrowers with larger, so-called jumbo loans are still seeing interest rates in the 7 percent range, prompting many to abandon refinancing plans altogether or resort to creative transactions.

Fed to Begin Buying Mortgage-Backed Securities
The program is aimed at driving down the price of mortgages and making home loans more available.

Lawmakers set new mortgage bankruptcy bill
WASHINGTON (Reuters) - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.

NY Fed begins purchasing mortgage securities
The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

Pink calls for more Libor loans
Pink Home Loans has urged more lenders to launch London Interbank Offered Rates linked mortgage products. ...

Peter Crabb: Bad loans still on banks' books will prolong recession
What happened to the $700 billion pail? Months ago, when President Bush said “our entire economy is in danger,” his administration asked for and received $700 billion to buy bad mortgage-backed loans off the books of U.S. banks.