Mortgage and Financial News From 2007-10-3 Page 01
Previous Day: 2007-10-02
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Democrats call for "mortgage czar," borrower aid
Reuters - Harry Reid, the Senate Majority Leader, and Nancy Pelosi, the speaker of the House of Representatives, called for the current limit on Fannie Mae and Freddie Mac investments to be lifted so the mortgage finance companies can buy more troubled home ...
2007-10-03 04:13:00 -
Balestrino Puts Federated in Mortgage Bonds, Beating Corporates
Bloomberg - ... the top-performing fund with similar investment objectives, has less than 1 percent of its $1.8 billion in mortgage bonds. It has risen 7.3 percent in 2007. Thrown Out The Federated fund's biggest holding is Federal Home Loan ...
2007-10-03 10:04:00 -
BIA of New York City Members Elected to National Association of Home ...
Forbes - With the turmoil in the home mortgage market stifling the rebound of new home sales, it will be very beneficial for the home owners and buyers of New York City to have these four highly experienced professionals fighting for them on the national ...
2007-10-03 05:50:00 -
Credit Crunch May Affect Accounting
Forbes - Mounting defaults on risky home-mortgage loans to subprime borrowers have rattled investors in mortgage-backed securities, and the anxiety has quickly spread to other sectors, including high-yield junk bonds, debt issued in leveraged buyouts and even ...
2007-10-03 02:18:00 -
Borrowers hit with rate rises
News.com.au - IN A further sign that the global funding crisis is continuing to hurt Australian home borrowers, a string of non-bank lenders have increased mortgage rates. While the most significant price moves came from RAMS on Tuesday, three other lenders - RESI ...
2007-10-03 10:32:00 -
Banks reduce credit lines to H&R Block mortgage unit
Reuters - Banks reduced and closed out warehouse lines of credit, which H&R Block's Option One Mortgage Corp used to temporarily finance home loans made to consumers. H&R Block has struggled to sell the Option One unit as rising defaults force mortgage ...
2007-10-03 09:49:00 -
Democrats call for mortgage 'tsar'
MSNBC - Democratic leaders in the US Congress called on Wednesday for the appointment of a "mortgage tsar" to co-ordinate government response to the home loan crisis. Harry Reid, Senate majority leader, and Nancy Pelosi, speaker of the House of ...
2007-10-03 10:39:00 -
Governor to sign mortgage-related bills
Daily Pilot - SACRAMENTO -- With Californians facing a torrent of mortgage defaults and home foreclosures, Gov. Arnold Schwarzenegger said Wednesday that he would sign three bills aimed at protecting homeowners and increasing affordable housing. The bills would ...
2007-10-03 09:57:00 -
UAE mortgage lending soars (AME Info)
Mortgage lending in the UAE nearly doubled to Dhs45.7bn in the second quarter due to the continued influx of foreign investors in the country's real estate market, reported Emirates Today citing figures from the UAE Central Bank. Outstanding home loans increased an annual 97% at the end of June, while annual mortgage lending growth in the first quarter was 86%.
2007-10-03 09:26:36 -
Democrats call for mortgage ‘tsar’ (Financial Times)
Democratic leaders in the US Congress called on Wednesday for the appointment of a “mortgage tsar” to co-ordinate government response to the home loan crisis.
2007-10-03 09:03:06 -
Governor to sign mortgage-related bills (Los Angeles Times)
They are aimed at protecting homeowners and increasing affordable housing but would not stop foreclosures for current borrowers. With Californians facing a torrent of mortgage defaults and home foreclosures, Gov. Arnold Schwarzenegger said Wednesday that he would sign three bills aimed at protecting homeowners and increasing affordable housing.
2007-10-03 05:44:00 -
More mortgage layoffs: Bear Stearns firing 310 workers (USA Today)
Bear Stearns said Wednesday it is laying off 310 workers and fusing its two mortgage businesses, after turmoil in the home loan industry contributed to a dramatic slide in the investment bank's profit this summer.
2007-10-03 11:48:56 -
Lawmakers ask Bush to appoint 'mortgage czar' (USA Today)
Former Federal Reserve chairman Alan Greenspan defended the U.S. subprime mortgage market, arguing the repackaging and sale to investors of risky home loans not the loans themselves was to blame for the current global credit crisis.
2007-10-03 07:35:16 -
US jobs figures to test markets euphoria
MSNBC - ... stock market sell-offs around the globe and raised the risk of a recession, setting the stage for the Fed to cut interest rates ... One of the distinguishing characteristics of the current upturn has been the slower pace of both business capital ...
2007-10-03 12:10:00 -
State Farm to reduce homeowner rates by 9%
Miami Herald - ... the largest private insurer of homes in Florida, agreed to lower homeowner rates ... several issues regulators had raised recently, including the company's current ... The refund will include 5 percent simple interest. The settlement also resolves an ...
2007-10-03 06:47:00
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