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Mortgage News for Thursday - January 29, 2004

More Mortgage News
• Rates likely to remain near current levels
• Freddie Mac Capital Requirement Increased
• IndyMac says 4th-qtr net higher, mortgage share up
• NetBank drops 10% after earnings warning
• House price increases 'slowing down'
• Fed modifies wording on interest rate plans
• Mortgage Rates Around the Country Higher
• Whittier, Calif.-Based Bank Holding Company Posts Drop in Quarterly Profits
• Japan Banks Mizuho, Sumitomo Mitsui to Lower Mortgage-Loan Rates
• Lender says house-price rises will taper
• Mortgage requests drop
• Borrowers beware: Interest Rates will rise again
• Executives at U.K. Insurer Aware They Were Mis-Selling Mortgage Endowments
• Adelaide Mortgage Bank forsees strong year
• Advantages of home ownership touted
• Home is usually protected during bankruptcy
• Prophets of doom can't stop house prices
• Sales of new homes lower by 5 percent
• Council approves housing program
• Mortgage rate hike expected
• E-Loan replaces president after difficult fourth quarter
• Mortgage Corp. has five year agreement
• $1 million allocated for housing programs
• FHLB mortgage finance program grows rapidly in '03
• FREDDIE MAC UNVEILS OFHEO ACTION CONCERNING CAPITAL SURPLUS
• Midland Loan Services Activates Enterprise! Loan Management System
Mortgage News
$1 million allocated for housing programs - 2004-01-29
One million dollars will be provided for housing programs in the city of Coon Rapids this year.
The funds, to be shared among five programs designed to maintain and improve the housing stock in the city, will come from the Coon Rapids Mortgage Assistance Foundation.

“The program does not duplicate currently available non-city funded housing programs,” said Lyle Haney, president of the mortgage assistance foundation.
Read the full story at Coon Rapids Herald
 
FHLB mortgage finance program grows rapidly in '03 - 2004-01-29
The Federal Home Loan Bank of Chicago said the mortgage finance program it manages expanded w sharply in 2003, funding more than $72.1 billion of loans -- up 158 percent from a year ago.

The Mortgage Partnership Finance (MPF) program, started in 1997 by FHLB-Chicago, competes with the much larger mortgage securitization programs of Fannie Mae, Freddie Mac and the Government Mortgage Association in the secondary U.S. mortgage market.
Read the full story at Reuters via Forbes
 






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