Mortgage and Financial News From 2007-10-5 Page 01

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  • Retirees vulnerable to reverse mortgage push

    Age - Another problem was default clauses in some reverse mortgage loans that could be triggered by simply forgetting to pay council rates. ... mortgage would not affect pension entitlements, had the lowest interest rate of any reverse mortgage and ...
    2007-10-05 02:23:00

  • Immigration And Housing: The Documented Link

    CNBC - ... on hold, laborers are finding themselves out of work and unable to make their mortgage ... Not surprisingly, Prince William County now has some of the highest foreclosure rates in the region. What’s strange is that in August, the region had the lowest ...
    2007-10-05 12:57:00

  • Dollar Gives Back Gains as Payrolls Rally Fades

    CNBC - ... slowing path and keep the Federal Reserve from possibly cutting interest rates. The ... decline in three years, after data showed Canada's unemployment rate was the lowest ... Since mid-August when a crisis in the U.S. subprime mortgage market practically froze ...
    2007-10-05 09:01:00

  • Washington Mutual Says Third-Quarter Profit Fell 75% (Update5)

    Bloomberg - Earnings may be the lowest since the fourth quarter of 1998 on $1.39 billion of bad-loan ... Washington Mutual shares have fallen 21 percent this year as mortgage delinquencies rose to a five-year high and foreclosure rates climbed to a record.
    2007-10-05 01:33:00

  • 5 Myths About Sick Old Europe

    Washington Post - Today, with the stock market jittery over Iraq , the mortgage crisis, huge budget and ... the 15 core nations of the European Union had per capita economic growth rates ... Even France , at 8 percent, is at its lowest rate in 25 years. That's still higher ...
    2007-10-05 06:55:00

  • Electric co-op raises rates; Customers to receive 4.17 percent increase (Delaware State News)

    GREENWOOD — Delaware Electric Cooperative customers are now paying higher rates. The utility’s board of directors at its Sept. 19 meeting unanimously approved a 4.17 percent increase that took effect Monday.
    2007-10-05 05:57:30

  • French gov't struggles to translate 'subprime'

    China Post - Therefore, the Commission ... advises French people to use the expression 'prets hypothecaires a haut risque' (high risk mortgage loans) which is a term already used by the banking industry," it said in a statement this week. But there have been few ...
    2007-10-05 07:02:00

  • Washington Mutual's Earnings To Suffer From Mortgage Woes

    Wall Street Journal - Washington Mutual Inc., one of the nation's largest mortgage originators, expects to set aside $975 million on a pretax basis in the third quarter to cover potential future loan losses and record a $150 million writedown on mortgage loans it planned ...
    2007-10-05 05:55:00

  • CREDIT CRUNCH

    CNBC - Supports more “face-to-face” financial counseling about mortgage risks and greater truth in lending disclosure to new home owners, as well as more money for low-cost Federal Housing Administration loans for home buyers. Calls subprime mortgage ...
    2007-10-05 06:34:00

  • JPMorgan, Bank of America May Write Down Buyout Loans (Update4)

    Bloomberg - Oct. 5 (Bloomberg) -- JPMorgan Chase & Co. and Bank of America Corp., the biggest arrangers of U.S. leveraged loans, may write down the value of their holdings by a combined $3 billion in the third quarter after surging mortgage defaults halted ...
    2007-10-05 01:55:00

  • Fremont says Mass. attorney general filed lawsuit

    Reuters - ... said on Friday the Massachusetts Attorney General filed a lawsuit alleging the California savings and loan engaged in unfair or deceptive practices in connection with origination and servicing of residential mortgage loans. Fremont said it is ...
    2007-10-05 12:21:00

  • Of Mutual Interest: Tech funds offer reasonable investment to cautious ...

    Seattle Post Intelligencer - Although the number is smaller than the $466 million investors put into tech funds in July, the gain is notable given the market gyrations in August amid concerns about the housing sector and souring mortgage loans. Despite strong returns from some ...
    2007-10-05 04:54:00

  • Attorney General Accuses Mortgage Lender Of Unfair Practices

    WCSH - Attorney General Martha Coakley's lawsuit against Fremont Investment and Loan comes three months after the state reached an agreement that restricted Fremont's ability to foreclose on its mortgage loans in Massachusetts. That agreement included a 90 ...
    2007-10-05 05:29:00

  • U.S. Consumer Borrowing Up $12.2 Billion in August (Update1)

    Bloomberg - Oct. 5 (Bloomberg) -- U.S. consumer borrowing rose more than forecast in August as Americans boosted spending with credit cards and other non-mortgage loans. Consumer credit increased $12.2 billion in August from the previous month, to $2.47 trillion ...
    2007-10-05 01:19:00

  • Fitch Affirms 4 Classes from MERIT Series 12-1 RMBS Issue

    Forbes - The collateral in the aforementioned transaction consists of conventional, one- to four-family fully amortizing first lien mortgage loans and manufactured housing (MH) installment sales contracts. The MH portion of the pool was originated by Dynex ...
    2007-10-05 01:40:00

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