Mortgage and Financial News From 2007-10-18 Page 32
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Chancellor's warning to homeowners as IMF predicts devastating crash
This is London - The FSA said ten per cent of interest-only borrowers have no idea how they will pay back the money when the time comes, with many simply relying on a buoyant housing market to add equity to their home. Mortgage brokers have also been encouraging ...
2007-10-18 12:17:00 -
Mortgage claims send MGIC into loss
Financial Times - Mortgage insurers help reimburse home lenders when borrowers default. Bail-out costs had more than tripled to $602.3m as house prices tumbled, making it harder for lenders to recover losses by selling properties, MGIC said. Curt Culver, chief ...
2007-10-17 07:24:00 -
Risky assets in debt market, DBRS says
Globe and Mail - ... portion of Canada's commercial paper market are at risk because of its ties to the controversial U.S. residential mortgage ... Re/Max sees home sales slowing in 2008 while prices rise 6% 17/10/07 7:37 AM 8 7. Samaritans bring in new blood to save their ...
2007-10-18 12:10:00 -
S&P downgrades 1,713 classes of mortgage-backed securities
Allentown Morning Call - The downgraded securities represent more than 6 percent of the $371.9 billion of subprime, alt-A and home equity mortgage-backed securities S&P rated during the first half of 2007. The mass review of loans was prompted by similarities between the 2007 ...
2007-10-18 12:10:00 -
Sakakibara Says Dollar May `Plunge,' Forcing Response (Update2)
Bloomberg - The Federal Reserve may follow its Sept. 18 interest rate reduction with a further cut before the end of the year to stem fallout from subprime mortgage defaults, Sakakibara said. It is likely to keep the target for the overnight lending rate between ...
2007-10-17 11:06:00 -
Black Monday: Never again?
Los Angeles Times - Home & Garden ... This summer, during the market sell-off triggered by the sub-prime mortgage meltdown and resulting credit crunch, some ...
2007-10-17 11:56:00 -
WaMu doesn't expect to see woes end soon
Seattle Times - Like other big mortgage players, WaMu has been hit by sagging home prices and higher mortgage rates, which make refinancing more expensive and less attractive; and the evaporation of the secondary market for all but plain-vanilla mortgages, which has ...
2007-10-18 12:10:00 -
Mortgage war:
News.com.au - AN $8billion merger deal will pit Ray White's mortgage broker arm against Aussie Home Loans and Mortgage Choice in a new war for home buyer dollars. The company's mortgage broking arm, eMOCA and mortgage broker X Inc Finance yesterday announced they ...
2007-10-17 06:05:00 -
Wells Fargo plans grand opening
Frederick News-Post - Wells Fargo Home Mortgage will hold a grand opening at its new building from 11 a.m. to 2 p.m., Oct. 25. The 300,000-square-foot building will house 1,500 employees. The $50 million project at Riverside Corporate Park was constructed by Morgan-Keller ...
2007-10-17 10:52:00 -
'Green' mortgage could save you money
Daily Telegraph - In addition, the N & P plants 40 trees for every home bought with a green mortgage, in forests in Lincolnshire and Leicestershire. So, as yet only a few companies offer genuinely "green" mortgages. But with business booming at the Ecology Building ...
2007-10-17 08:57:00 -
New-home building off 10.2%
Philadelphia Inquirer - That massive cut in ratings created an uneasiness among investors that mortgage-sector problems still were worsening. However, JPMorgan Chase & Co., despite losses from souring home loans and tough-to-sell corporate debt, posted earnings yesterday ...
2007-10-17 11:56:00 -
Home affordability at record low
News.com.au - Affordability index 8.3 per cent lower in a year Typical first home buyers in mortgage stress Investigation : How has the housing crisis hit you? RELENTLESS rises in interest rates and sky high house prices around Australia have pushed housing ...
2007-10-17 11:49:00 -
Mortgage woes won't end soon, group says
Rocky Mountain News - BOSTON - The nation's more than $2 trillion home mortgage business won't halt its current slide anytime soon, with mortgage originations expected to fall 18 percent next year and decline another 6 percent in 2009, the Mortgage Bankers Association ...
2007-10-17 10:52:00 -
Mortgage Originations Expected to Plunge (Washington Post)
BOSTON -- The nation's more than $2 trillion home mortgage business won't halt its current slide anytime soon, with mortgage originations expected to fall 18 percent next year and decline another 6 percent in 2009, the Mortgage Bankers Association predicts.
2007-10-17 01:54:38 -
Allied Home Mortgage Capital Corporation Announces New FHA Hotline (PrimeNewswire via Yahoo! Finance)
HOUSTON, Oct. 17, 2007 -- Allied Home Mortgage Capital Corporation has provided another tool to help Allied Branches succeed in a changing market. FHA is the product that will qualify the most borrowers now with the demise of subprime loans.
2007-10-17 12:31:05