Mortgage and Financial News From 2008-1-31 Page 12

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  • Mortgage brokers just hanging on (The Press-Enterprise)

    Mortgage brokers who haven't fled the industry or been forced out are in survival mode nationwide.
    2008-01-31 08:15:43

  • Closed Doors: Mortgage brokers, blamed for housing-market woes, try to rebuild image as thousands in field lose jobs (Winston-Salem Journal)

    Mortgage brokers who haven't fled or been forced out of the industry are in survival mode. They're coping with little or no business as the economy slows, accusations that they're to blame for the mortgage meltdown, stricter lending standards and the threat of new regulations. Efforts to persuade would-be customers that they're ethical and helpful abound. "The general consensus is we're all ...
    2008-01-31 08:18:17

  • Stocks Rally in Defiance of Bad News (NYTimes.com via Yahoo! Finance)

    Wall Street was sharply higher as investors shrugged off concerns about problems in the bond insurance industry.
    2008-01-31 08:40:03

  • (AFX UK Focus) 2008-02-01 04:21 GMT: Australia's central bank to raise interest rates due to inflation - economists (Interactive Investor)

    SYDNEY (Thomson Financial) - Australia's central bank is expected to raise interest rates to a 12-year high next week as rising inflation outweighs concerns about the recent turmoil in global financial markets and the increasingly bleak outlook for the US economy, economists said Friday.
    2008-01-31 08:48:02

  • JPMorgan Scales Back Home-Equity Lending

    Street.Com - The company, citing the Mortgage Bankers Association, garners an 11% share of total originations, up from 6% a year earlier, according to a presentation that discusses fourth-quarter earnings. Mortgage originations, which excludes home-equity loans ...
    2008-01-31 02:38:00

  • Florida probes Countrywide over subprime loans

    CNBC - Bank of America Corp is expected to compete its $4.4 billion purchase of Countrywide in the third quarter. The mortgage lender, which lost more than $1.6 billion in the second half of 2007, essentially stopped making subprime home loans ...
    2008-01-31 02:45:00

  • Insight: Spain’s banks weather credit crisis

    Financial Times - Spanish lenders are now furtively turning their mortgage loans into privately placed bonds to use these as collateral to get access to liquidity from the European Central Bank. Meanwhile, the cost of buying insurance against default for medium ...
    2008-01-31 02:09:00

  • New $20B subprime bailout on the table

    CNN Money - Senator Chris Dodd, the committee chair, said he is working to create a Home Ownership Preservation Corporation, which would purchase mortgage securities that are backed by at-risk, subprime loans from lenders and investors. This corporation would ...
    2008-01-31 02:38:00

  • How to keep the roof over your head

    Daily Telegraph - Abbey, for example, raised the interest rate on its tracker mortgage for 100 per cent loans by 1.15 percentage points a fortnight ago. Jonathan Cornell of Hamptons International, the mortgage broker, suggests making regular lump-sum overpayments if ...
    2008-01-31 07:17:00

  • House Stimulus Plan Hits Partisan Wall in Senate

    NPR News - The House package would temporarily increase the size of mortgage loans — known as the conforming loan limit — that Fannie Mae and Freddie Mac can purchase: from the current $417,000 to a maximum of $729,750. It would also permanently raise the ...
    2008-01-31 03:57:00

  • Fannie and Freddie

    Financial Times - Congress is breaking out its blunt instruments. A stimulus package just passed by the House of Representatives would allow Fannie Mae and Freddie Mac , the government-sponsored re-packagers of mortgages, to buy jumbo mortgage loans valued at up to ...
    2008-01-31 02:52:00

  • Senior US senator presses mortgage relief bill

    Forbes - Specter's bill would give bankruptcy judges only narrow latitude to adjust with mortgage loans. Current law allows bankruptcy judges to restructure most consumer loans like credit cards and car payments. But they are prohibited from tinkering with ...
    2008-01-31 03:42:00

  • Stocks Rally in Defiance of Bad News - New York Times

    Stocks Rally in Defiance of Bad NewsNew York Times, United States - 1 hour agoIndeed, market participants remain concerned that the insurers will renege on their guarantees of bonds linked to subprime home loans, potentially leaving ...
    2008-01-31 06:28:09

  • Florida investigating Countrywide's marketing practices - Sun-Sentinel.com

    Florida investigating Countrywide's marketing practicesSun-Sentinel.com, FL - 1 hour agoDubious lending practices in the past few years have fueled a mortgage crisis that is rippling across the US economy and forcing record numbers of people ...
    2008-01-31 06:30:33

  • S&P may cut US$534 bil. of subprime bonds - China Post

    S&P may cut US$534 bil. of subprime bondsChina Post, Taiwan - 1 hour agoIt will now concentrate on RMBS transactions supported by Alt-A and prime mortgage loan collateral over the next few weeks and hopes to release its results ...
    2008-01-31 06:35:44

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