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Tracker mortgages axed after Bank of England announces cuts

Mortgage providers have axed tracker mortgages despite Gordon Browns call for lenders to forward cuts in interest rates.

Treasury? mulls backing mortgages

The federal government may start guaranteeing home mortgages to persuade lenders to ease the monthly financial burden on struggling homeowners, Federal Deposit Insurance Corp. Chairman Sheila C. Bair said yesterday.

Canada buys up mortgages and central bank lends more

The Canadian government will buy up C$50 billion (27 billion pounds) more in insured mortgages from banks as part of a series of steps announced on Wednesday to improve the availability of long-term credit. Skip related content

Canada buys up mortgages, central bank lends more

TORONTO (Reuters) - The Canadian government will buy up to another C$50 billion ($41 billion) in insured mortgages from banks as part of a series of steps announced on Wednesday to improve the availability of long-term credit.

Canada buys up mortgages, central bank lends more

TORONTO (Reuters) - The Canadian government will buy up to another C$50 billion ($41 billion) in insured mortgages from banks as part of a series of steps announced on Wednesday to improve the availability of long-term credit.

Ottawa buys up mortgages, central bank lends more

TORONTO (Reuters) - The federal government will buy up to another C$50 billion ($41 billion) in insured mortgages from banks as part of a series of steps announced on Wednesday to improve the availability of long-term credit.

Citigroup to modify mortgages for distressed borrowers

NEW YORK: Citigroup has joined a growing list of U.S. financial institutions offering to modify the terms of mortgages for distressed borrowers, announcing a program to help thousands of people meet their monthly payments while reducing the bank's potential for larger losses as the economy erodes.

Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program

In testimony Thursday on Capitol Hill, Federal Deposit Insurance Corp. chairman Sheila Bair provided the first public update on the FDIC’s loan modification program put into place at IndyMac Federal Bank since it was introduced roughly two months ago. The agency took over IndyMac in July, and announced the loan modification program on Aug. 20; Bair has said that FDIC analysts estimated that 40,000 or so of the 60,000 mortgages more than 60 days in arrears at IndyMac would qualify for a loan modification under the program.

Fed winners and losers

When the Federal Reserve meets, we all have questions: What does it mean to me? Will my mortgage rate go up or down? Is this a good time to refinance? Bankrate is here to help. We've looked at five categories -- mortgages, home equity loans, auto loans, credit cards and certificates of deposit -- to determine if the Fed's moves made you a winner or a loser. Here's a look at mortgages:

As mortgages soured, executives cashed out

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Nationwide limits cheap mortgages

One of the UK's biggest mortgage lenders, the Nationwide, will stop all new mortgage borrowing on its standard variable rate (SVR).

Treasury Considers Backing Mortgages: FDIC Proposal Aims to Help Homeowners

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Banks competing online for mortgages

INTEREST rates may be plummeting but there\'s always a way to get an even better deal from a mortgage lender - especially as home sales have been falling off a cliff.

THE number of fresh mortgages approved by the big UK banks for house purchase in September was only modestly higher than August's record low and down 57% on a year earlier - signalling further residential property market weakness.

Seasonally-adjusted data published yesterday by the British Bankers' Association showed the number of loans approved by the major banks for house purchase rose from 21,342 in August to 23,422 last month.

FDIC Details Plan To Alter Mortgages: Treasury Opposes Using Bailout Funds For Proposal to Ease Monthly Payments

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Bank bailout adds £100 to mortgages

Bailing out failed Icelandic banks and Bradford & Bingley has added £108 a year to every mortgage, a finance chief said yesterday.

U.S. federal govt may start guaranteeing home mortgages

enders to ease the monthly financial burden on struggling homeowners, Federal Deposit Insurance Corp. Chairman Sheila Bair said Thursday.

FDIC head: U.S. must persuade lenders to modify mortgages

(Reuters)—One of the United States’ top banking regulators said on Thursday the government must do more to guarantee mortgage loans in order to persuade lenders to modify their terms and help ward off a potential wave of foreclosures.

Banks stand to make ?3.9 billion from high lending rates on loans and mortgages

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Bank PHB seeks FMB reorganisation

As Mortgages PHB, a subsidiary of Bank PHB was launched over the weekend with a promise to bring a new lease of life to Nigeria’s fast growing mortgage banking industry, its Group Managing Director Mr. Ignatus G. Igbaka has called on the Federal Government to re-organise the Federal Mortgage Bank, since banks are in the best position to financial mortgage institution.

Citigroup joins the mortgage modification nation

Citigroup, which owns about 1.5 million mortgages nationwide with a balance of about $175 billion, is stepping up its mortgage modification efforts, reports the Los Angeles Times' E. Scott Reckard.

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