Mortgage and Financial News From 2007-9-5 Page 4

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  • Reserve Bank of Australia Pledges Funds to Banks (Update2)

    Bloomberg - National Australia Bank Ltd., the nation's largest, moved A$6 billion ($4.9 billion) of loans onto its balance sheet after the unit holding some assets was unable to refinance in the short-term debt market, the Melbourne-based bank said in a ...
    2007-09-04 05:59:00

  • What People Can Do If Foreclosure Looms

    Wall Street Journal - ... mortgage -- the home's price when he paid for it. But he says he may soon start to fall behind, as he's been notified that his interest rate jumped to 11.5% from 8.5% in September, which will cost him an extra $400 a month. When he tried to refinance ...
    2007-09-05 06:55:00

  • Panic on Wall Street

    Salon - If you ran into trouble, you could just refinance your house, or borrow a few billion more dollars today to pay off the ... By Patrick Smith Panic on Wall Street You've heard about the home-loan bust, but do you know your derivatives from your ...
    2007-09-05 03:35:00

  • Mortgage broker survey finds 33 percent of home loans failed to close ...

    International Herald Tribune - ... to get financing for their new home, Popik said, noting that sales agreements often are contingent on buyers selling their current home. The survey also found that nearly half of borrowers with adjustable rate mortgages were not able to refinance ...
    2007-09-05 02:30:00

  • Refinance.com Introduces 24 Hour Hotline for FHA Advice

    Forbes - However, the available funds to refinance home mortgages have dried up due to Wall Street market factors beyond the borrowers' control. Refinance.com proposes that the FHA program, with a few modifications, is ideally positioned to help the majority ...
    2007-09-05 11:31:00

  • U.S. Economy: Pending Home Sales Drop Most on Record (Update4) (Bloomberg.com)

    Sept. 5 (Bloomberg) -- The number of Americans entering into contracts to buy previously owned homes plunged in July by the most since records began in 2001, worsening the two-year housing recession.
    2007-09-05 02:37:14

  • U.S. mortgage broker survey finds 33 pct of home loans failed to close last month (CP via Yahoo! Canada News)

    WASHINGTON (AP) - A third of U.S. home loans originated by mortgage brokers failed to close in August as investors shied away from riskier borrowers, a new survey says.
    2007-09-05 03:18:00

  • Mortgage broker survey finds 33 percent of home loans failed to close last month (San Jose Mercury News)

    WASHINGTON (AP) - A third of home loans originated by mortgage brokers failed to close in August as investors shied away from riskier borrowers, a new survey says.
    2007-09-05 04:50:08

  • Refinance.com Introduces 24 Hour Hotline for FHA Advice (PR Newswire via Yahoo! Finance)

    With FHA temporary rule changes in reaction to the sub prime mortgage market, Refinance.com, the nation's premier source for residential mortgage refinancing, announced the creation of an online resource for borrowers seeking to refinance their homes with an FHA refinance loan.
    2007-09-05 11:31:00

  • Fed urges loan companies to help prevent mortgage defaults

    KOMO-TV - Sheila Bair, chairman of the Federal Deposit Insurance Corp., said mortgage collectors have the ... have roiled financial markets in recent weeks as investors worried about whether the credit markets will be destabilized by a rising tide of bad loans
    2007-09-05 04:39:00

  • A Way Out Of Mortgage Mess

    Hartford Courant - Subprime mortgage lenders and brokers would have you believe they ... with a government bailout program that guarantees their bad ... prevent families of modest means from gaining access to credit. Democrats maintain that Mr. Bush's response to the mortgage ...
    2007-09-05 05:51:00

  • Splitsville for MGIC-Radian

    BusinessWeek - Worries about subprime roiled credit markets as the value of mortgage-backed investments has plummeted. Many of these trends have hurt MGIC and ... A further worry was that, as a result of the negotiations, "bad blood has been created between these two ...
    2007-09-05 02:23:00

  • MGIC, Radian Cancel Merger, Citing Market Conditions (Update6)

    Bloomberg - ... providing details about its businesses that may be ``particularly susceptible'' to turmoil in credit ... Radian's shares fell 73 percent since the deal was announced in February as mortgage insurers paid more to bail out lenders from bad loans.
    2007-09-05 02:52:00

  • County could lose millions because of credit downgrade

    Seattle Times - The nation's subprime-mortgage crisis has slammed into the halls of local government. Financial managers told the Metropolitan King County Council on Tuesday that credit-rating agencies have ... precedent for bailing out when an investment goes bad ...
    2007-09-05 10:05:00

  • ANZ's Eslake Says Australian Dollar-Yen May Fall on Subprime

    Bloomberg - ... dollar may slump 13 percent against the yen in two years as U.S. subprime mortgage ... chief economist, said at a client seminar in Tokyo yesterday. ``There's more bad ... one of its hedge funds that lost money on loans to U.S. homeowners with poor credit ...
    2007-09-05 05:43:00

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