Mortgage and Financial News From 2007-10-3 Page 11

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  • Deutsche Bank expects to write down $3.1 billion in loans and assets

    International Herald Tribune - FRANKFURT : Deutsche Bank finally put a number on its losses from the home-lending crisis, saying Wednesday that it expected to write down $3.1 billion in loans and mortgage-backed assets. Its disclosure – after two very public warnings from the ...
    2007-10-03 07:52:00

  • Bush administration, Congress headed for fight over new mortgage debt ...

    Forbes - ... from an unexpected tax bill, the administration strongly believes this relief should be temporary to assist homeowners during the current mortgage market transition period and to avoid distorting consumer and lender decisions on new mortgage loans ...
    2007-10-03 09:03:00

  • Greenspan defends subprime loans (The News Journal)

    LONDON -- Former Federal Reserve Chairman Alan Greenspan defended the U.S. subprime mortgage market, arguing that the securitization of home loans for people with poor credit -- not the loans themselves -- is to blame for the global credit crisis.
    2007-10-03 12:54:23

  • Subprime loans defended (Worcester Telegram & Gazette)

    LONDON - Former Federal Reserve chairman Alan Greenspan defended the U.S. subprime mortgage market, arguing that the sale of home loans for people with poor credit - not the loans themselves - were to blame for the current global credit crisis.
    2007-10-03 01:48:33

  • Frost Mortgage partners with First Houston (BizJournals)

    Albuquerque's Frost Mortgage has partnered with mortgage banker First Houston Mortgage. Frost President and CEO Greg Frost said he will maintain his position and the company will keep its name as it originates loans for First Houston.
    2007-10-03 09:18:45

  • Mortgage lenders face subprime ‘traffic jam’ (Financial Times)

    US mortgage companies are being overwhelmed by the large numbers of homebuyers who need to renegotiate their loans to avoid default, creating a “subprime traffic jam” that could frustrate efforts by regulators to prevent foreclosures, experts say.
    2007-10-03 11:12:37

  • Democrats press for more aid to mortgage borrowers (Market Watch)

    WASHINGTON (MarketWatch) -- Top Senate and House Democrats pressed for more aid to subprime-mortgage borrowers Wednesday, saying that more funding is needed to prevent foreclosures, that Fannie Mae and Freddie Mac should be allowed to buy more loans, and other measures should be taken.
    2007-10-03 09:25:02

  • HSBC Mexico Sells Mortgage-Backed Bonds After Drought (Update1) (Bloomberg.com)

    Oct. 3 (Bloomberg) -- HSBC Mexico SA likely became the first non-government issuer to sell bonds backed by mortgage loans in Mexico after a two-month drought brought on by the collapse of the U.S. subprime mortgage market.
    2007-10-03 01:52:57

  • Democrats Want Fannie, Freddie to Buy Subprime Loans (Update2) (Bloomberg.com)

    Oct. 3 (Bloomberg) -- Fannie Mae and Freddie Mac, the largest U.S. mortgage-finance companies, would be allowed to expand their $1.5 trillion mortgage portfolio to buy subprime loans under a Democratic plan to help struggling borrowers.
    2007-10-03 01:34:38

  • Tame inflation allows rate freeze: Costello

    News.com.au - ... inflation, despite challenges such as high oil prices, is a factor allowing interest ... get back to normal after the fall-out from the collapse in the US sub-prime market ... Handy tips: Beat rising interest rates Reserve Bank: Analysts forecast rate rise ...
    2007-10-02 09:29:00

  • Uncertainty May Be ECB's New Code-Word

    CNBC - ... billion euros ($28.4 billion) worth of luxury items last year - and followed by more veiled requests from Italian Prime ... euro-zone economy was already slowing before the financial crisis begun, because of the stronger euro, the previous interest rate ...
    2007-10-03 09:39:00

  • Negotiation, communication can forestall foreclosures

    ScrippsNews - It's a penalty found in only found 2 percent of prime loans, according to the center. Advocates say even simple interest-rate changes could prevent 60 percent of the expected foreclosures -- one in five of all subprime mortgages over the past two ...
    2007-10-03 10:22:00

  • NRI deposits drop in Kerala banks

    New Kerala - The falling interest rate on non-resident deposits is the prime reason. Another reason is strengthening of the rupee against dollar. Non-resident Keralites have begun parking a portion of their funds in banks abroad. They have also started investing ...
    2007-10-03 08:20:00

  • Dollar Makes Slight Gains on Euro

    Forbes - Currency traders focused Wednesday on a series of reports from the U.S. for hints about future interest rate ... putting pressure on the ECB ahead of its meeting Thursday, when it is expected to hold the key rate steady at 4 percent. Italian Prime ...
    2007-10-03 10:22:00

  • Fixed-rate borrowers 'in for a big shock'

    This is Money - Credit-rating service Standard & Poor's says there are 80,000 people who are already classified as sub-prime whose fixed-rate ... On an individual basis it makes sense to charge those who are higher risk debtors a higher rate of interest. Yet this also ...
    2007-10-03 11:12:00

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