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Washington Mutual to help homeowners refinance subprime loans
MSN MoneyCentral - The Seattle-based thrift established a borrowers’ assistance program to help its homeowners who are current on their existing loans, but are anticipating payment increases, to apply for new discounted fixed-rate loans or other eligible mortgage
Source: news.moneycentral.msn.com

Congress looks for solution on foreclosures
Eagle-Tribune - According to the Mortgage Bankers Association, 119 out of every 10,000 home loans were at some step in the foreclosure process at the end of last year. That’s an increase over previous quarters, but not a record. On the other hand, 54 out of every 10
Source: www.eagletribune.com

ResMae Gets Interim OK to Boost Lending
MSN MoneyCentral - This is a very positive sign,” DeFranceschi said, referring to ResMae’s need for more liquidity as it continues to produce home loans. Mortgage mills like ResMae operate by borrowing money from big backers, making loans and selling the loans back to
Source: news.moneycentral.msn.com

Beat Rising Rates With Nontraditional Mortgage
Best Syndication - To address this dilemma, mortgage lenders have introduced a new crop of “affordability” loans, and homebuyers are turning to them as a means to comfortably manage their home financing over the long run. These nontraditional loan products are designed
Source: bestsyndication.com

First Trust/FIDAC Mortgage Income Fund Declares Monthly
MSN MoneyCentral - The Fund pursues these investment objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund’s sub-adviser, offer an
Source: news.moneycentral.msn.com

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