Mortgage and Financial News From 2007-9-16 Page 11
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Lehman goes first
Financial Times - ... 16 per cent to justify its valuation of 1.6 times book. That is way below the first half’s 25 per cent but will still be tough to achieve given the fall out in Lehman’s core fixed income and mortgage markets and its exposure to leveraged loans.
2007-09-16 10:14:00 -
Credit crunch attracts a wave of opportunism
San Diego Union-Tribune - Thousands of homes in the county are expected to remain at risk of foreclosure through 2009, when interest rates on the last of those risky loans are scheduled for adjustments that could send mortgage payments skyrocketing. One reason for the ...
2007-09-16 07:36:00 -
Let's point fingers at subprime's real villains
San Diego Union-Tribune - John Browne, a former British parliamentarian who now writes the online Financial Intelligence Report from Florida, says the U.S. mortgage market is still full of “toxic waste” – loans that should never have been made and may never be repaid. A ...
2007-09-16 07:36:00 -
U.K. Props Up Mortgage Lender
Washington Post - ... reached a record high following a period of loose lending to less creditworthy buyers, have prompted thousands of layoffs in the industry and led to substantial losses at hedge funds and other financial firms with investments linked to mortgage loans ...
2007-09-14 08:00:00 -
Desperate debtors risk all with secured loans
Observer - ... of creditors, the lender of a secured loan takes second place to a mortgage lender, so if the home is repossessed and sold, the secured loan company would get its money back only when the mortgage had finally been paid off. Many 'consolidation loans ...
2007-09-16 04:30:00 -
Foreclosure rates linked to loan type, local economy
Baltimore Sun - To begin with, remember that mortgage delinquency problems only affect people with outstanding loans, and more than one out of three homeowners own their properties debt-free. Of the remaining two-thirds of all owners with active mortgage accounts ...
2007-09-16 08:19:00 -
Credit unions' loans raise red flag
Denver Post - It ranked 12th when mortgage loans were included. Lakewood-based Jeffco Credit Union has a higher level of "other real estate" loans than Norlarco, at 53.7 percent, a number that chief executive and president Kip Sharp attributed to high ...
2007-09-16 09:09:00 -
Report: UK bank was target of takeover proposals before bailout
CNBC - That was caused in part by U.S. banks making mortgage loans to Americans with poor credit histories. Under the Financial Services Compensation Scheme, deposits made by Britons of up to 31,700 pounds (US$63,900; ??46,000) at banks are guaranteed should ...
2007-09-16 09:52:00 -
No need for risky loans (The News & Observer)
After the legislature approved mortgage reforms aimed at curbing abusive lending practices and reducing foreclosures, I heard from readers who worried that the laws would make it harder for poor people to buy a home.
2007-09-15 11:49:08 -
Countrywide caught in mortgage spiral (Lexington Herald-Leader)
Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust. To survive, it's been forced to borrow billions of dollars, announce ...
2007-09-16 07:11:16 -
State laws on mortgage fraud, sex offenders and DUI offenders take effect (KTVK Phoenix)
PHOENIX -- Starting this week, Arizona will have one of the nation's tougher laws on mortgage fraud, a law that more closely tracks sex offenders and a law requiring first time drunken driving offenders to use interlock device.
2007-09-16 09:41:33 -
Mortgage mess could hit home for Oregonians (The Oregonian)
Homeowners in Oregon hold high-risk mortgage loans at a higher rate than those in most other states, potentially putting them -- and the state economy -- at greater risk of financial peril.
2007-09-16 12:03:35 -
Understanding Your Credit Score
Bradford Era - If your score is below 680, but above 560, you are considered "sub-prime." You will probably still have no trouble getting credit, but at a much higher interest rate. Scores below 560 make you undesirable to creditors. You can probably still get a ...
2007-09-16 06:46:00 -
Thursday, September 13
News.com.au - JAPANESE Prime Minister Shinzo Abe's shock resignation sent his ruling party scrambling to find a new leader who could ... LAST month's interest rate rise is expected to have limited impact on the retail industry because of the Government's income tax ...
2007-09-16 07:15:00 -
Sarkozy criticises ECB rate stance in sub prime storm
Zee News - Paris, Sept 16: French President Nicolas Sarkozy today resumed his campaign for lower interest rates in Europe as he issued thinly veiled criticism to the way the European Central Bank had handled the credit crisis. In an interview with the Le Monde ...
2007-09-15 09:21:00