Mortgage and Financial News From 2007-9-10 Page 14

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  • Fitch Affirms 7 & Downgrades 2 Classes of Finance America Mortgage ...

    Forbes - The collateral in the transaction consists of first lien and second lien, fixed-rate and adjustable-rate residential mortgage loans. HomeEq Servicing Corp. is the servicer, and is rated 'RPS1' by Fitch. The affirmations reflect a stable relationship ...
    2007-09-10 12:01:00

  • Genworth CEO says crisis helps mortgage insurance

    Reuters - Fannie and Freddie's share of all mortgage loans underwritten rose to 70 percent in August from below 35 percent in June 2006, according to Genworth statistics, as a credit crunch in home lending kept many lenders out of the market. Because they ...
    2007-09-10 01:05:00

  • Schumer Proposes Lifting Mortgage Caps

    Forbes - Last month, the companies' federal regulator rejected requests to ease the caps on mortgage loans or mortgage securities they can hold in their portfolios. In a letter to Schumer released Monday, James B. Lockhart, director of the Office of Federal ...
    2007-09-10 01:48:00

  • BRT Realty Trust Declares Regular Quarterly Cash Dividend to ...

    Forbes - -- Due to non-payment of interest due on August 1st and September 1st from borrowers on four first mortgage loans held by BRT in the aggregate original principal amount of $66,350,000, on which there is presently $44,785,000 outstanding, BRT will ...
    2007-09-10 01:48:00

  • Thornburg May Buy Up to $4 Billion of Discounted Mortgage Bonds (Bloomberg.com)

    Sept. 10 (Bloomberg) -- Thornburg Mortgage Inc., the home lender that sold $20.5 billion of mortgage bonds at a loss last month to ease a cash shortage, now plans $3 billion to $4 billion of purchases to take advantage of low prices.
    2007-09-10 12:33:42

  • Sector Glance: Mortgage Lenders Mixed (AP via Yahoo! Finance)

    Shares of mortgage lenders were mixed Monday as Countrywide Financial Corp.'s stock continued to be weighed down on news of job cuts, while other stocks recovered as the broader market wavered before ending the day relatively flat.
    2007-09-10 01:51:57

  • Wachovia CEO: Mortgage Business Is Good (AP via Yahoo! Finance)

    Wachovia Corp. is grabbing more mortgage business as a result of the recent shakeout in the industry, Chief Executive G. Kennedy Thompson said Monday.
    2007-09-10 02:04:10

  • U.S. mortgage companies face sharp job cuts (International Herald Tribune)

    A high percentage of U.S. real estate loan officers and mortgage brokers may be fired as the market slows amid a credit crunch.
    2007-09-10 12:55:20

  • IBM Mortgage Unit Accelerates Market Presence (Marketwire via Yahoo! Finance)

    IBM Lender Business Process Services, Inc., a wholly owned subsidiary of IBM specializing in mortgage origination services, announced today that it was recently approved by the U.S. Department of Housing and Urban Development to conduct mortgage origination services for federally insured Federal Housing Administration loans. It has also obtained regulatory approvals and licenses to provide these ...
    2007-09-10 05:00:00

  • Bill would let Fannie, Freddie buy more loans (Market Watch)

    WASHINGTON (MarketWatch) -- Mortgage-buyers Fannie Mae and Freddie Mac would be able to buy more loans in an effort directed at helping both subprime borrowers and high-cost home markets under a bill introduced Monday by Sen. Charles Schumer.
    2007-09-10 11:00:42

  • IBM mortgage unit approved for federal loans (Crain's New York Business)

    IBM Lender Business Process Services Inc. was approved to provide technology services on Federal Housing Administration loans.
    2007-09-10 12:27:10

  • All talk, not enough action

    Hong Kong Standard - Instead, the economy's prospects have darkened amid interest-rate hikes and turmoil in global credit markets. Bush arguably offered the most animated APEC quote. He told Australia's deputy prime minister, Mark Vaile, "we're kicking ass" in Iraq ...
    2007-09-10 12:37:00

  • Mortgage companies should modify loans, not foreclose, panel says

    Columbus Dispatch - Subprime loans typically are offered to consumers with less-than-ideal credit histories and carry interest rates higher than market-rate, or "prime," loans. Ohio has the third-largest number of homes in foreclosure in the nation, according to ...
    2007-09-10 12:23:00

  • 'We' have reason to be nervous

    News.com.au - We are only just beginning to understand that the ripples from the US sub-prime meltdown have run further and longer than ... That's delivered the Clayton's virtual reality interest rate hike we had to have. Or something like that. But also not so ...
    2007-09-10 08:12:00

  • Q&A on possible recession

    Seattle Times - A: Last week's weak employment report put pressure on the Fed to lower a key interest rate now at 5.25 percent. Many economists believe the Fed will slice this rate by one-quarter or one-half percentage point on Sept. 18. If it does, the prime lending ...
    2007-09-10 01:05:00

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