MORTGAGE

U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday.

A spike in U.S. mortgage rates drove down total home loan applications last week as demand for refinancing shriveled to the lowest level since November, the Mortgage Bankers Association said on Wednesday.

The 10-year Treasury, the benchmark rate which mortgage rates are priced off, have risen significantly over the past month - from under 3 percent and now closely approaching 4 percent. Mortgage rates will follow similar patterns and could soon top 5.5 percent on a conforming 30-year fixed rate on average.

Fitch Ratings on Monday said it expects to keep its top rating on the most senior commercial mortgage-backed securities for the

John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.

John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.

Interest rates on U.S. 30-year fixed-rate mortgages surged 0.38 percentage point in the latest week, reaching its highest level since the week ending Dec. 11, 2008, according to a survey released on Thursday by home funding company Freddie Mac (FRE.N).

Nine people have been indicted on charges of conspiring to defraud Washington Mutual Bank and DLJ Mortgage Capital Inc, a unit of Credit Suisse Group AG, in a $92 million mortgage fraud scheme, prosecutors said on Thursday.

The U.S. economy's recovery may have stalled after data on Wednesday showed half a million private sector jobs were lost in May and mortgage applications fell last week as rising interest rates frightened away buyers.

Defaults on privately insured U.S. mortgages fell to a six-month low in April, providing evidence that deterioration in the nation's housing market may be slowing.

A pickup in U.S. home sales has kindled hopes for a housing recovery, but plunging prices, rising unemployment and a new wave of foreclosures are clouding prospects for a quick end to the American real estate debacle.

One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.

One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.

Iris Martin is not a banker, real estate lawyer or mortgage broker. She is a former psychotherapist specializing in transformative psychology.

Freddie Mac, one of the largest providers of funding for U.S. housing, is set to break ground on its first bond backed by commercial mortgages, a source familiar with the offering said on Friday.

U.S. mortgage applications rose last week, reflecting an increase in demand for home refinancing loans as interest rates trekked lower, data from an industry group showed on Wednesday.

Whitney Tilson, the outspoken founder of hedge fund T2 Partners LLC, is girding for a deeper mortgage market meltdown after being singed in his first foray into the credit crisis' most toxic of securities -- subprime bonds.

Redwood Real Estate Partners, Inc said on Wednesday it launched a fund to buy up to $500 million in distressed residential real estate amid an expected surge in bank-owned properties.

A money manager owned by Canada's Manulife Financial Corp is seeking to fire one of the largest subprime mortgage companies in the United States, claiming that Carrington Mortgage Services is unfairly tarnishing some bonds.

The Obama administration on Thursday tweaked its housing rescue plan by increasing incentives for mortgage lenders to slash the payments for homeowners in the worst-hit markets.

Commercial mortgage bondholders took some comfort after a judge overseeing General Growth Properties' bankruptcy stopped short of a move that they say would have undermined the structures of their securities.