Mortgage and Financial News From 2007-9-5 Page 12

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

    (adds details) 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 Chairwoman Sheila Bair.
    2007-09-05 10:15:09

  • Delta Financial discounts loans to raise capital (Newsday)

    Delta Financial Corp., the troubled Woodbury-based subprime lender, said Wednesday it has bundled together for sale bonds backed by $900 million in mortgage loans, a move the company hopes will increase its ability to borrow money to originate more loans.
    2007-09-05 07:35:24

  • Our view on mortgage meltdown: How did bundles of risky loans get 'AAA' ratings? (USA Today)

    Our view on mortgage meltdown: How did bundles of risky loans get 'AAA' ratings? Credit rating agencies act more like lap dogs than watchdogs. Let's see, where have we heard this before? An industry that is supposed to provide independent...
    2007-09-04 09:22:00

  • Delta Financial prices mortgage bundle (CNN Money)

    The security is backed by $900 million in mortgage loans; company says pricing less favorable than in past quarters.
    2007-09-05 08:00:15

  • Sen. Dodd proposes mortgage reform bill (Reuters via Yahoo! News)

    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.
    2007-09-05 11:43:50

  • Delta Financial Announces Securitization Backed by $900 Million in Mortgage Loans (Business Wire via Yahoo! Finance)

    WOODBURY, N.Y.----Delta Financial Corporation announced that it has priced a securitization, backed by $900 million of mortgage loans, through its subsidiary, Renaissance Mortgage Acceptance Corp. -- the Renaissance Home Equity Loan Trust 2007-3.
    2007-09-05 04:00:00

  • Bank Millennium to award mortgage loans of around 3.96 bln zlotys in H2 (Sharewatch)

    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 saying.
    2007-09-05 05:15:00

  • Indian Communists Protest Naval Exercise Boosting U.S. Ties

    Bloomberg - Prime Minister Manmohan Singh's Congress party-led coalition has 226 seats in the 545-seat lower house, or Lok Sabha, 47 short of a majority. That shortfall is bridged by the communists, with their 59 seats. To contact the reporters on this ...
    2007-09-05 12:33:00

  • Rates on hold amid credit fears

    BBC News - ... with a surge in defaults on loans given to borrowers with weak or nonexistent credit histories - known as the sub-prime ... Analysts now say there is a greater chance the US Federal Reserve will cut the benchmark interest rate from 5.25% at its next ...
    2007-09-05 08:47:00

  • London Underground Resuming Service After Strike Ends (Update3)

    Bloomberg - Prime Minister Gordon Brown yesterday urged the strikers to return to work saying the dispute had caused ``enormous'' trouble. `Nightmare' Commuters agreed. ``It's a nightmare,'' said Ricky Cichon, a National Health Service senior ...
    2007-09-05 03:46:00

  • Hong Kong-listed property stocks rally on hopes for interest rate c

    Forbes - The prime rate is expected to fall another 25 basis points to 7 percent by early 2008. Under normal market conditions, bank interest rates in Hong Kong would follow the Fed's policy easing due to the Hong Kong dollar peg system, so a rate cut in the ...
    2007-09-05 03:39:00

  • BOC leaves Overnight Rate on hold at 4.50%

    FXStreet.com - BOC leaves Overnight Rate on hold at 4.50% Wed, Sep 5 2007, 13:19 GMT http://www.fxstreet.com FXstreet.com (Barcelona ... Fundamental Reports Fundamental Market View World Interest Rates Economic Indicator Reports Interest Rate Reports Technical Analysis ...
    2007-09-05 06:52:00

  • Brown Shirts March in Budapest as Gyurcsany Condemns `Fascists'

    Bloomberg - Prime Minister Ferenc Gyurcsany last week condemned anti-Semitism and homophobia and said he will make it a crime to incite racial hatred. Police last year blamed nationalists for turning anti- government protests into the worst riots in 50 years ...
    2007-09-05 04:00:00

  • Central bank holds steady on interest rate

    Globe and Mail - ... The global credit crunch has shoved the Bank of Canada to the sidelines, prompting the central bank to hold its key interest rate ... We think that once all is said and done, the bank will conclude that the U.S. sub-prime market does not pose all that big ...
    2007-09-05 11:17:00

  • Hawk's wariness hints at rate pause in Europe

    Marketwatch - Weber is widely considered the uber-hawk of the European Central Bank's 19-member governing council, and based on comments like that, many economists now expect the ECB to hold off on a quarter-point interest rate hike that as little as month ago ...
    2007-09-05 09:37:00

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