Mortgage and Financial News From 2007-9-5 Page 7

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• Boston's housing market has company

  Boston Online - Here's one place Boston's housing market is not the biggest loser: House prices have fallen more in Detroit and San Francisco over the past year. According to Freddie Mac , one of the nation's largest buyers of home mortgages, second-quarter house ...
  2007-09-05 11:38:00

• Pending home sales drop to September '01 levels (The Arizona Republic)

  Economist believes home purchases aren't closing because mortgages have been falling through at the last moment.{b} Recent Valley home sales
  2007-09-05 08:11:22

• European Stocks Drop; Bradford & Bingley, Societe Generale Fall (Bloomberg.com)

  Sept. 5 (Bloomberg) -- European stocks snapped a five-day winning streak on concern that the increase in borrowing costs caused by the collapse of U.S. subprime mortgages will hurt banks' earnings.
  2007-09-05 10:06:25

• New York Mortgage Settling Repurchases (AP via Yahoo! Finance)

  Real estate investment trust New York Mortgage Trust Inc. said Wednesday it has settled 77 percent of loan repurchase requests that were outstanding when it reported second-quarter earnings Aug. 6.
  2007-09-05 03:03:46

• Canada's Dollar Drops as Credit Market Losses Dim Risk Appetite (Bloomberg.com)

  Sept. 5 (Bloomberg) -- The Canadian dollar fell for the first time in six days as concern increased that losses from U.S. subprime mortgages are spreading to credit markets, spurring investors to shun riskier assets.
  2007-09-05 02:02:20

• Asian Stocks Slide on Subprime Concerns; Mizuho Financial Drops (Bloomberg.com)

  Sept. 5 (Bloomberg) -- Asian stocks dropped for a second day after comments by a senior Japanese government official reignited concern losses from U.S. subprime mortgages will spread.
  2007-09-05 04:13:11

• Felix Weakens Over Honduras as Henriette Nears Mexico (Update1)

  Bloomberg - Sept. 5 (Bloomberg) -- Tropical Storm Felix is forecast to weaken over Central America today as it brings rain that may cause mudslides and flash floods. In the Pacific, Hurricane Henriette is crossing the Sea of Cortez, where it may strengthen as it ...
  2007-09-05 04:07:00

• Fitch Affirms SASCO Series 1997-LL1

  Forbes - Fitch Ratings has affirmed the following Structured Asset Securities Corp.'s (SASCO) commercial mortgage pass-through certificates, series 1997-LL1: -- $104.0 million class D at 'AAA'; -- $42.8 million class E at 'AAA'. -- Interest-only class X-1 ...
  2007-09-05 09:51:00

• Former Fed board member Gramlich dies of leukemia at 68; foresaw ...

  CNBC - ... consumers against predatory lending practices and toughen regulation of mortgage ... on the Fed board with Gramlich, said, "Those who knew him will miss not only his ... bank presidents in setting monetary policy through their control of interest rates. ...
  2007-09-05 11:24:00

• Some New York City Cabbies Strike Over New Technology (Update2)

  Bloomberg - ... they got two fare increases for all the owners agreeing to put in this technology, which we think is in everybody's interest ... The commission only authorizes yellow cabs with city-issued medallions to pick up hailing passengers. Mayor ...
  2007-09-05 08:32:00

• UPDATE 4-Bank of Canada keeps interest rates on hold

  Reuters - OTTAWA, Sept 5 (Reuters) - The Bank of Canada kept its key interest rate on hold on Wednesday, as ... from inflation-fighting to the possible impact on growth of the meltdown in the U.S. subprime mortgage market in the coming months. Not only ...
  2007-09-05 01:11:00

• Fitch Affirms Credit Suisse First Boston Mtge Securities Corp., Series ...

  Forbes - ... the remaining amortization will be directed, in the following order, to the trusts' $365.2 million mezzanine loan, then to $117.7 million in non-trust mezzanine loans, and finally to the trust's $50 million mortgage loan, which are all interest only ...
  2007-09-05 09:58:00

• Fitch Affirms Penn Mutual 1996-PML

  Forbes - Fitch Ratings has affirmed the Penn Mutual Life Insurance Company's (Penn Mutual) commercial mortgage pass-through certificates, series 1996-PML, as follows: --Interest-only class X-1 at 'AAA'; --Interest-only class X-2 at 'AAA'; --$182,309 class P ...
  2007-09-05 10:20:00

• Can dad deduct half of son's mortgage interest?

  Boston Online - Can dad deduct half of son's mortgage interest? Both names are on title but only one is on loan By Robert J. Bruss | September 5, 2007
  2007-09-05 11:17:00

• Loonie down as central bank holds line on interest rates; jobs data may hit markets (CP via Yahoo! Canada News)

  TORONTO (CP) - The Canadian dollar was lower Wednesday morning after the Bank of Canada announced it is leaving its key interest rate unchanged at 4.5 per cent and indicated some clouds on the horizon for the economy.
  2007-09-05 06:16:00

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