Mortgage and Financial News From 2007-9-5 Page 11

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  • US mortgage applications climb, ARM share shrivels

    Reuters - U.S. pending home sales fell 12.2 pct in July NEW YORK, Sept 5 (Reuters) - Applications for U.S. home loans rose last week, while the highest adjustable rate mortgages in over six years cooled the once-torrid sector, an industry group's data showed ...
    2007-09-05 07:13:00

  • Pending Home Sales Sink In July

    CBS News - Some home purchases aren't closing because mortgage loans have been "falling through at the last moment," Yun said in a statement. The real estate trade group found the biggest year-over-year pending sales declines in western states, which dropped 21 ...
    2007-09-05 11:24:00

  • Consumers seeing changes in credit card, other loan terms due to ...

    CNBC - The dollar amounts involved in credit lines and consumer loans are much smaller _ often a fraction of a typical mortgage _ and defaults haven't been as worrisome. "What's driving what's happening in the mortgage market is the increase in delinquencies ...
    2007-09-05 11:53:00

  • MGIC, Radian scrap deal amid mortgage storm

    MSN MoneyCentral - But since then, shares of both companies have lost more than half their value amid a downturn in mortgage and housing markets, fueling rising losses in the loans and bonds they insure. As a result of the crunch in mortgage and corporate debt ...
    2007-09-05 12:21:00

  • FDIC expects 1.5 mln borrowers to have problems paying mortgage UPDATE

    Forbes - WASHINGTON (Thomson Financial) - The Federal Deposit Insurance Corporation is anticipating that 1.5 mln borrowers will be unable to make their mortgage payments after interest rates on their loans reset in the coming months, according to FDIC ...
    2007-09-05 11:24:00

  • UPDATE 2-US mortgage applications climb, ARM share shrivels

    Reuters - NEW YORK, Sept 5 (Reuters) - Applications for U.S. home loans rose slightly last week, but the highest adjustable mortgage rates in over six years shrank demand for those loans to the lowest level since June 2003, Mortgage Bankers Association data ...
    2007-09-05 09:51:00

  • Sen. Dodd proposes mortgage reform bill

    Boston Globe - WASHINGTON (Reuters) - The chairman of the U.S. Senate Banking Committee unveiled legislation on Wednesday that would prohibit mortgage brokers and lenders from steering borrowers to high-cost loans. The reform measure is meant to curb some of the ...
    2007-09-05 11:53:00

  • Need a mortgage with those tools?

    Globe and Mail - The giant chain of more than 1,100 stores is launching a bank account product in three markets that bundles together customers' mortgage, chequing and savings accounts, as well as loans and credit card balances with the promise of allowing consumers ...
    2007-09-05 11:24:00

  • Delta Financial prices securitization

    Reuters - Last: Sept 5 (Reuters) - Delta Financial Corp. (DFC.O: Quote , Profile , Research ) said it priced a securitization backed by $900 million in mortgage loans, which was materially less favorable than in past quarters due to market conditions. The ...
    2007-09-05 07:21:00

  • Former Fed governor Gramlich dies at 68

    Washington Post - He added that Gramlich particularly wanted to contribute to finding a solution to credit troubles stemming from problems with subprime mortgage loans to less credit-worthy borrowers who now are defaulting in growing numbers. "In the subprime area, he ...
    2007-09-05 11:03:00

  • Gov't Official: Hit To Economy Not Over

    CBS News - Among other things, it would expand existing borrower protections under law to cover high-cost mortgage loans, and prohibit "balloon" payments and prepayment penalties on them. In the current home-loan crisis, steep prepayment penalties have made it ...
    2007-09-05 11:31:00

  • With subprime doubt about, summer market blues persist

    International Herald Tribune - So when markets entered an exceptionally rocky period following the collapse of two Bear Stearns funds with exposure to bad U.S. mortgage loans, many investors and bankers just stepped back to monitor the markets and wait until September, when the ...
    2007-09-05 12:07:00

  • Bank Millennium to award mortgage loans of around 3.96 bln zlotys in ...

    Forbes - WARSAW (Thomson Financial) - Polish mid-sized Bank Millennium expects to award mortgage loans worth around 3.96 bln zlotys in the second half, or similar in value to what it sold in the first six months of this year, one of its managers was quoted as ...
    2007-09-05 06:16:00

  • Fitch Affirms SunTrust Mortgage Residential Servicer Rating at 'RPS2'

    Forbes - As of June 30, 2007, the company serviced 934,473 residential mortgage loans totaling over $150 billion. STM's management has indicated its plans for future growth are concentrated on internal strategies, including expanding market share in ...
    2007-09-05 09:58:00

  • Delta Financial prices mortgage bundle

    CNN Money - WOODBURY, N.Y. (AP) -- Mortgage lender Delta Financial Corp. said Wednesday it bundled together for sale a security backed by $900 million in mortgage loans, increasing its ability to borrow money to originate loans. However, the company said the ...
    2007-09-05 07:42:00

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