NYT: In Mortgage Ad, Two Wrongs Don't Make a Right
For more: http://s.nyt.com/u/meT7
The ING Direct loan is called a 5/1 Orange Mortgage, and as of early September, it came with a 3.25 percent interest rate for the first five years and a projected interest rate of 3.375 percent for the 25 years after that. But that is not right, in any number of ways.

NYT: Changes on Reverse Mortgages Will Alter Fee Structure
For more: http://s.nyt.com/u/meTo
Starting Monday, the program will introduce a reverse mortgage product known as the Saver, which will nearly eliminate one of the biggest upfront fees that borrowers are required to pay. But the program will also make changes in its standard reverse mortgages that will significantly increase certain costs but, in some cases, make more money available.

NYT: Bank of America to Freeze Foreclosure Cases
For more: http://s.nyt.com/u/meTD
It is the third major lender in the last two weeks to freeze foreclosures in the 23 states [including Kentucky] where the process is controlled by courts.

NYT: Foreclosures Slow as Document Flaws Emerge
For more: http://s.nyt.com/u/meEb
Even lenders with no known problems are expected to approach defaulting homeowners more cautiously and look more aggressively for resolutions short of outright eviction.

NYT: JPMorgan Suspending Foreclosures
For more: http://s.nyt.com/u/mtqZ
In a sign that the entire foreclosure process is coming under pressure, a second major mortgage lender said that it was suspending court cases against defaulting homeowners so it could review its legal procedures.

Fannie Mae offers a break to service people
For more: http://bit.ly/aN9Utd
Injured members of the military can reduce or suspend their mortgage payments for up to six months through a new program with Fannie Mae.

NYT: Raters Ignored Proof of Unsafe Loans, Panel Is Told
For more: http://s.nyt.com/u/mrbZ
Details of what Wall Street firms knew about the loans they were selling to investors, and when they knew it, are still trickling out in regulatory actions and private lawsuits.