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Latest Mortgage News

House OKs mortgage rescue (CNN Money)
The House on Wednesday voted 272-152 to pass sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.

Marshall Loeb's Daily Money Tip: Four tips to help you qualify for a mortgage today (Market Watch)
Qualifying for a mortgage is certainly not as easy as it used to be. The turmoil that has gripped the housing and the credit markets has led to lenders tightening their approval standards. But while it is more difficult to qualify, it is not impossible.

A Mortgage Rescue Strains Calculations (New York Times)
The proposed government rescue of the nationâ€™s two mortgage finance giants should appear on the federal budget as a $25 billion expense, the independent Congressional Budget Office said on Tuesday, but officials conceded that there was no way to really know what, if anything, a bailout might cost taxpayers.

Mortgage insurers jump on hopes for Fannie, Freddie legislation (Market Watch)
Mortgage insurers jump on hopes that new legislation supporting Fannie Mae and Freddie Mac will help stabilize the housing market.

Wash. state to revoke license of mortgage company (AP via Yahoo! Finance)
Washington state plans to revoke the license of a California mortgage broker. The state Department of Financial Institutions said an investigation has found Sacramento-based Paramount Equity Mortgage Inc. engaged in deceptive lending practices.

Mortgage Lobby Replaces President (Washington Post)
The Mortgage Bankers Association, which has been losing members and cutting staff because of the steep decline in the U.S. housing market, replaced its president yesterday with a longtime industry executive.

Thornburg Mortgage begins stock exchange offer (AP via Yahoo! Finance)
Mortgage lender Thornburg Mortgage Inc. on Wednesday began an exchange offer for four classes of its preferred stock, as part of its efforts to remain in business.

US mortgage rates increase again (BBC News)
The cost of taking out a mortgage in the US rises again following fears over two key lenders, consumer figures indicate.

Mortgage rate rise spurs housing worries (UPI)
NEW YORK, July 23 (UPI) -- Rising home mortgage rates may add another burden to the faltering U.S. housing market, analysts say.

IAC to take $170 million charge for mortgage, real estate units (CNET)
Internet giant says it will write down charges related to its mortgage and real estate businesses because of the housing crisis.