Mortgage and Financial News From 2007-10-5 Page 2

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  • As the housing market declines, 'Mortgage Confidential' is must ...

    St. Louis Post-Dispatch - Reed covers everything from where the money for mortgage loans really comes from to closing costs to refinancing to the various loan choices available. The greatest service Reed provides is acting as an interpreter. "Mortgage Confidential" is like ...
    2007-10-05 08:21:00

  • Washington Mutual Sees 3rd-Qtr Profit Down 75 Pct

    Reuters UK - NEW YORK (Reuters) - Washington Mutual Inc (WM.N: Quote , Profile , Research ), one of the largest U.S. mortgage lenders, said on Friday it expects a 75 percent drop in third-quarter earnings due to losses and write-downs on mortgage loans and ...
    2007-10-05 05:22:00

  • Mass. AG sues mortgage lender

    MSN MoneyCentral - The office of Massachusetts Attorney General Martha Coakley said Friday that it has filed a lawsuit against California-based Fremont General and Fremont Investment and Loan, a subprime lender that originated thousands of loans in the Bay State. The ...
    2007-10-05 11:17:00

  • R&G Financial Corporation Updates Status of Certain Mortgage Banking ...

    Forbes - The Company also announced that on September 28, 2007, R&G Mortgage completed the sale of a residential mortgage loan portfolio, primarily sub- performing and non-performing mortgage loans, for approximately $64 million to a private investor and used ...
    2007-10-05 02:23:00

  • Savings and loans diverge from Bank's base rate (FT.com via Yahoo! News)

    Rates for personal loans, mortgages and savings are now moving independently of the base rate set by the Bank of England, which was this week held at 6.75 per cent.
    2007-10-05 10:30:19

  • Accountability sought for mortgage brokers (The Record Searchlight)

    WASHINGTON -- Mortgage brokers, under fire for steering borrowers into high-cost home loans, are a prime target of fair-lending legislation soon to be unveiled on Capitol Hill.
    2007-10-05 06:52:08

  • Consumers mistakenly believe it's a bad time to get good mortgage (Minneapolis-St. Paul Star Tribune)

    The term "mortgage meltdown" has become so commonplace -- on TV, in headlines and even casual conversations -- that you might assume that this is a tough time to get a mortgage. But the reality is starkly different: Mortgage money is plentiful, the majority of mortgage products remain relatively unaffected by troubles in the subprime segment, and interest rates for 30-year fixed-rate loans ...
    2007-10-05 01:08:45

  • Mortgage Training, Education Contemplated (Hartford Courant)

    A task force studying subprime mortgages in Connecticut expects to recommend new training and education requirements for mortgage officers and programs to assist borrowers who have these more risky loans, Gov. M. Jodi Rell said Friday.
    2007-10-05 11:19:37

  • California tightens rules for mortgage lenders (The Fresno Bee)

    Mortgage companies will have to do a better job warning prospective California home buyers about the kind of risky loans that have led to tens of thousands of defaults and foreclosures, under a bill signed Friday by Gov. Arnold Schwarzenegger.
    2007-10-05 06:51:01

  • Wall Street to Alberta: Don't be ‘so stupid'

    Globe and Mail - ... same guys who brought down the real state market with their greed for sub-prime ... Remember that corporate America does not have one iota of interest in the public good ... That rate of inflation on infrastructure spending is beyond what we can afford ...
    2007-10-05 05:44:00

  • ECB leaves rate at 4% as rise threatens growth

    Economic Times - Politicians including Italian prime minister Romano Prodi and his Luxembourg counterpart Jean-Claude Juncker have ... There is no way there will be a signal of an interest-rate cut,” said Kenneth Broux, an economist at Lloyds TSB Group in ...
    2007-10-05 03:35:00

  • Carney's Goldman Years May Help Him at Bank of Canada (Update2)

    Bloomberg - Prime Minister Stephen Harper yesterday picked Mark Carney, a finance ministry official and former Goldman investment ... The crisis prompted the bank to step back from a forecast interest-rate increase last month, and officials will probably leave ...
    2007-10-05 01:26:00

  • Economy Didn't Need Fed's Help

    Forbes - ... Ben Bernanke last month, it was the central banker who blinked and lowered interest ... As a succession of multibillion-dollar write downs from the sub-prime mortgage ... for a cut as large as the Fed made--half a percentage point in the Fed Funds rate ...
    2007-10-05 04:03:00

  • Subprime meltdown to have limited impact here: Shome

    Economic Times - ... or accelerate the rate of growth. It would be naive for the global financial community to relax thinking that issues like the US subprime would not recur. Chris Wood, MD and equity strategist with CLSA, observed that the easing of interest rates ...
    2007-10-05 03:56:00

  • 401(k) Loans: At Your Own Risk

    Wall Street Journal - Borrowers must repay the loan plus interest, which is typically set at one or two percentage points above the prime rate. While plans vary, the most you can borrow is the lesser of 50% of your vested balance or $50,000. Employees usually must repay ...
    2007-10-05 07:24:00

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