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State helps with mortgages, points (Queens Courier)
The State of New York Mortgage Agency (SONYMA) recently increased the maximum purchase price nearly 20 percent for mortgages it would back in New York City and surrounding counties, through December 15.
Brokers see rise in high-net-worth mortgages (Money Marketing Online)
Over a third of brokers have seen an increase in the number of mortgages they arrange over £500,000 in the past few years, according to Bank of Scotland. ...
Liquidators of Bear Stearns funds lose court appeal (Washington Post)
NEW YORK (Reuters) - Representatives of two collapsed Bear Stearns Cos Inc (BSC.N) hedge funds linked to risky mortgage investments have lost a court appeal seeking to have the funds liquidated in the Cayman Islands instead of in the United States.
Canadian Imperial Has Second Straight Loss on Debt Writedowns (Bloomberg.com)
May 29 (Bloomberg) -- Canadian Imperial Bank of Commerce , the country's fifth-largest bank, posted a loss for the second consecutive quarter after taking about C$2.5 billion ($2.54 billion) in pretax writedowns on investments tied to U.S. subprime mortgages.
Profile of a (maybe) recession (The Christian Science Monitor via Yahoo! News)
Optimism has grown this month that the United States may escape a recession. But don't haul out the ticker tape just yet.
How To Pay For That Housing Bill (Forbes)
Diverting funds from Fannie and Freddie will lower costs, but big risks remain.
Government Aid for First-Time Home Buyers (Smart Money)
With easy money mortgages dried up, first-time buyers look to the government for help.
Mortgage lender pleads guilty (Bucks County Courier Times)
A former Bucks attorney admitted stealing from area residents who thought he was refinancing their mortgages.
Mortgage woes scar banks (The Cincinnati Enquirer)
Stocks including Fifth Third's were battered on new concerns that regional banks underestimated the cost of bad mortgages.
Libor is set for overhaul as its credibility is challenged (St. Louis Post-Dispatch)
LONDON — The benchmark interest rate for at least $347 trillion of derivatives and 6 million U.S. mortgages is set for its biggest shakeup in a decade on concern that banks misquoted their true borrowing costs.