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Mortgage News for Thursday - January 15, 2004

More Mortgage News
• U.S. Mortgage Rates Decreased to 5.66 Percent
• Mortgage Player National City to restate past results
• Washington Mutual to shut East Bay loan-processing center
• Property Valuations Sees Big Increase
• Mortgage Player Countrywide becomes primary dealer with Fed
• Former Owner of Norfolk, Va., Hotel Recieves Jail Sentence for Mortgage Scam
• Council Agrees On Consensus for Affordable Housing Resolution
• Improve credit score before applying for a mortgage
• TCF Financial: interest rates negatively affect lending revenue
• Ohio Agency Investigates Actions of Defunct Westerville Mortgage Firm
• Prices of Manhattan Apartments Expected to Climb Upward This Year
• Why Housing Should Stay Robust
• Can we afford buy-to-rent?
• County housing sizzled in '03
• Lowest inflation in four years
• What's our best mortgage alternative?
• Should you go for a piggyback mortgage?
• Reasons for mortgage refinancing
• Tips to get out of debt
• More advice on avoiding mortgage-insurance fees
• San Diego Median $405,000 Highest Ever
• HomeBanc does $5.9 billion in mortgage loans in 2003
• US consumer debt hits record levels
• New home construction explodes
• Florida Civil Suit Can Go Ahead in Mortgage Fraud Case Despite Criminal Probe ( )
• Mortgage insurance player will take a $96M charge
• Anworth Mortgage Asset Corporation Posts Earnings of $0.36 Per Share for the Fourth Quarter of 2003
• Availent to Buy First Texas Residential Mortgage
Mortgage News
Council Agrees On Consensus for Affordable Housing Resolution - 2004-01-15
City Councilwoman Kathryn E. Leonard wanted to push the state into easing its demand that the city replace every unit of affordable housing gone during the redevelopment of Tonomy Hill.

They voted 5 to 1 against a resolution that would have threatened city support for future phases of Tonomy redevelopment if the Rhode Island Housing and Mortgage Finance Corporation didn't take a more active role in finding substitute affordable housing outside Newport.
Read the full story at Miami Herald
 
Improve credit score before applying for a mortgage - 2004-01-15
Q: What is regarded as a subprime credit score? And what kind of interest rates can I get with, say, a 650 credit score?

A: Right now, you're on the border between a great rate (typically 650 to 680 and up) and a sub-prime loan. Some lenders will throw you a bone and give you A- status, while others will consider you sub-prime.

You might also try a lender that keeps their mortgages in-house as investments. This is also known as a portfolio lender.
Read the full story at Los Angeles Times
 






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