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Mortgage News for Friday - January 16, 2004

More Mortgage News
• Bond prices rise, yields drop as investors bet mortgage loans will be repaid
• Mortgage interest rates drop to six-month low
• Mortgage, Insurance Scam Broken
• Remortgaging posts record debt
• Clearwater, Fla., Loan-Processing Center for Washington Mutual Will Close
• Wachovia generates 23% more in quarter
• Financial Firm Relocates to Fort Mill, S.C.
• £600m-a-day mortgage bonanza
• Bank mega-merger likely won't cost N.O. any jobs
• What's required raise my credit score and get a mortgage?
• Freeserve joins with The MarketPlace for mortgages
• 2 face possibility of losing licenses for equity stripping
• JPM chief says NY job losses insignificant
• Housing market still sizzling
• End mortgage uncertainties
• Hawaii mortgages rates drops below 5.4%
• Houston mortgage brokerage company bought
• HUD helps WIN group
• Study places BB&T 2nd in nation for home-mortgage customer satisfaction
• Low income homebuyers wanted
• UK mortgage market hits new high
• Mortgage Express announces product manager
Mortgage News
Bank mega-merger likely won't cost N.O. any jobs - 2004-01-16
The proposed merger of J.P. Morgan Chase and Bank One will remove 10,000 jobs during the next three years but is not expected to take jobs from the New Orleans area.

Chase Manhattan Mortgage Corp. has a mortgage office in Metairie and satellite offices in Baton Rouge and Monroe. Chase also has a 1,000-person mortgage-processing center in Monroe. It does not have retail branches in Louisiana as it does in Texas.
Read the full story at NOLA Live
 
What's required raise my credit score and get a mortgage? - 2004-01-16
Dear Dr. Don,
I recently eliminated $35,000 in credit card debt. I currently have $5,000 in debt and no car payment. Due to my high credit card debts in the past, I have a credit score of 620.

What are my chances of getting a home loan for $220,000 with an interest rate of 7.5 percent or better?
Rick Redemption
Read the full story at Bankrate.com
 






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