Mortgage and Financial News From 2007-9-24 Page 6

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  • Asian Markets Are Mostly Higher, Australia Sets Record

    CNBC - Hong Kong blue chips fell tracking losses on Wall Street, as HSBC Holdings dropped on news that profit at Germany's largest bank, Deutsche Bank, may be hit by subprime mortgage investments. Hong Kong-listed shares in mainland companies, or H shares ...
    2007-09-24 08:56:00
  • Court victories worry big lenders

    East African Standard - After years of arbitrarily altering contractual interest rates on loans and imposing penalties on defaulters — customary practices now argued to be illegal — banks and mortgage companies are having to deal with a growing legal backlash. Lenders ...
    2007-09-24 01:17:00
  • Fitch: Rating Pressure Continues to Mount for U.S. Mortgage REITs

    Forbes - Despite the use of longer-term, match-funded CDO financing by mortgage REITs and other finance companies, a majority of these companies continue to utilize short-term, floating-rate financing, creating a mismatch of longer-term, fixed-rate assets and ...
    2007-09-24 08:31:00
  • Second Curve reports 5 pct IndyMac Bancorp stake

    Reuters - Brown has been hurt this year by other bets on mortgage companies, including "subprime" lenders that offer home loans to people with poor credit. Second Curve's portfolio has included, among other companies, Accredited Home Lenders Holding Co (LEND ...
    2007-09-24 09:57:00
  • 3 accused of swindling homes from seniors

    Detroit News - We will work it out with the mortgage companies." According to Hammoud and Worthy, in the past two years Wayne County has prosecuted 45 cases of identify theft and deed fraud, with victims being fleeced by a variety of thieves, including family ...
    2007-09-24 10:33:00
  • Oil Below $81 As Gulf Production Resumes

    Baltimore Sun - On Friday, concerns about a tropical depression that was then moving across Florida prompted several gas and oil companies to evacuate hundreds of workers from offshore rigs and suspend about a quarter of the Gulf of Mexico's daily oil and gas ...
    2007-09-24 04:59:00
  • IMF demands financial markets reform

    Times Online - It said that the process of financial innovation needed to be re-examined, particularly whether mortgage companies lacked the incentive to monitor the risks to their securitised loans. Ratings agencies were another source of concern, it said, as they ...
    2007-09-24 02:43:00
  • Countrywide alters terms of 35,000 mortgages

    AZCentral.com - Treasury Department and Federal Reserve have urged mortgage companies to stave off foreclosures by cutting or postponing payments for cash-strapped homeowners. Lenders have eased terms on about 1 percent of subprime mortgages nationally, Moody's ...
    2007-09-24 05:42:00
  • Countrywide to modify loans

    News.com.au - Countrywide, based in Calabasas, California, overhauled its lending practices to focus on smaller, safer loans that mortgage companies Fannie Mae and Freddie Mac will buy. The company's shares have fallen by more than half this year as Countrywide ...
    2007-09-24 06:04:00
  • Countrywide to help 35,000 stay in homes

    St. Petersburg Times - Treasury Department and Federal Reserve have urged mortgage companies to cut or postpone payments for cash-strapped homeowners. Moody's Investors Service said lenders have eased terms on only about 1 percent of subprime mortgages nationally ...
    2007-09-24 09:17:00
  • Pa. Proposes Sweeping Mortgage Reform (KDKA Pittsburgh)

    Pennsylvanians may get some help in response to the mortgage crisis that's sweeping the country.
    2007-09-24 05:25:00
  • Mortgage crisis may spread (Lancaster Online)

    Michelle Weaver's phone started ringing a few days after 800 families learned their finances had been fried by the collapse of mortgage broker Wesley A. Snyder.It hasn't stopped.Weaver, of Manheim Township, isn't a therapist, a financial expert or an attorney. She's simply one of hu...
    2007-09-24 09:57:29
  • Miners up but Northern Rock down

    Daily Telegraph - ... rise in the morning was driven by bargain hunters, while others were hoping for news of a bid for the beleaguered mortgage ... Broker comment lifted Marks & Spencer 25 to 592p after Deutsche Bank recommended the shares as a buy before news of ...
    2007-09-24 04:09:00
  • Candidates debate affordable housing and development policy

    MSN MoneyCentral - Trudy Jones, a commercial broker with Grubb & Ellis | New Mexico who is running unopposed for the District 8 seat being ... people afford homes, which caused some surprised murmuring in the audience in light of the recent problems in the mortgage ...
    2007-09-24 04:09:00
  • Mortgage broker settles false advertising charges with Ariz.

    AZCentral.com - Attorney General Terry Goddard today announced a $95,000 settlement with Lenox Financial Mortgage, LLC, an Atlanta-based mortgage broker. The settlement resolves allegations that the company violated the Arizona Consumer Fraud Act by failing to ...
    2007-09-24 05:42:00