Mortgage and Financial News From 2007-12-14 Page 13
Previous Day: 2007-12-13
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FHA Legislation Will Help Homeowners, Economy, Says NAR
Forbes - Gaylord noted that FHA has made mortgage insurance widely available to individuals regardless of race, ethnicity or social status during periods of prosperity and economic depression. The FHA program makes it possible for higher risk yet creditworthy ...
2007-12-14 10:06:00 -
Richmond gets tout in e-mail (Richmond Times-Dispatch)
The Greater Richmond Partnership is trying to turn the turmoil in the finance, securities, insurance and mortgage industries to the region's advantage.
2007-12-14 08:14:24 -
Mortgage meltdown linked to fraud (Deseret Morning News)
The desire to make a "quick buck," along with extremely lax lending practices, are considered to be among the chief reasons for the recent decline in the nationwide mortgage and housing markets, according to a local title company executive
2007-12-13 11:47:52 -
Home Loan Insurers Turn to Reinsurers (AP via Yahoo! Finance)
Record numbers of mortgage defaults during the U.S. housing crisis are likely, for the first time, to trigger significant payments from lender-operated reinsurance companies that provide a backstop to traditional mortgage insurance.
2007-12-14 09:23:30 -
BofA named top retail mortgage originator (BizJournals)
Bank of America Corp. ranks as the top retail mortgage originator in the United States for the first nine months of 2007, according to a survey by Inside Mortgage Finance. (BAC) (WB)
2007-12-14 07:15:52 -
Provider plans insurance to cover rate rises (FT.com via Yahoo! News)
Property owners who are worried about higher mortgage payments could insure themselves against interest rate rises for just a few hundred pounds a year - but policies will only become available if the Treasury agrees to exempt this type of cover from income tax.
2007-12-14 09:25:15 -
Mortgage and insurance markets should be included in RDR, says FSCP (Money Marketing Online)
The mortgage and insurance markets should be incorporated into the retail distribution review, according to the Financial Services Consumer Panel. ...
2007-12-14 07:18:28 -
Mortgage insurance more affordable with tax breaks (Inside Bay Area)
MORTGAGE insurance used to be an ugly stepchild in the housing market, something borrowers had to get when they couldn't come up with a 20 percent down payment or swing a piggyback loan.
2007-12-14 05:40:08 -
Stocks Open Lower on Inflation Worries
Chicago Tribune - The Fed this week lowered interest rates and announced a plan to align with other key central banks and offer liquidity to pressed lenders around the world. But while it wants to stimulate the U.S. economy and make lending easier among banks wary of ...
2007-12-14 06:38:00 -
Six lenders slash mortgage rates
MyFinances.co.uk - Six mortgage providers have slashed standard variable rates (SVRs) following last week’s base rate cut with a further 31 making changes, independent figures show. The surprise move by the Bank of England prompted the largest lenders – Abbey ...
2007-12-14 09:16:00 -
Mortgage meltdown linked to fraud
Deseret News - Mortgage lenders and everybody involved in that process have to pay more attention to the transactions that they're making, the loans that they're making," said Heiner. He said the increase in fraudulent schemes occurred when speculators infused the ...
2007-12-14 06:24:00 -
A guide to the main house price surveys
Reuters UK - LONDON (Reuters) - House price inflation looks set to slow sharply in the coming months as mortgage lenders tighten their lending criteria in reponse to the credit squeeze. With several new reports every week, policymakers and economists have to ...
2007-12-13 11:57:00 -
The best stocks for 2008
CNN Money - His CGM Focus fund was up 66% through early December - while juicing his returns with short positions on Indymac and Countrywide Financial, mortgage lenders whose stocks have been circling the drain. With that kind of track record, we listened when ...
2007-12-14 07:14:00 -
Mortgage insurers call on reinsurance to help cover losses amid ...
CNBC - But virtually all the major mortgage lenders have captive reinsurance arrangements, according to Fitch Ratings analyst Thomas Abruzzo, who has noted in recent reports that the captive reinsurance offsets some of the risk that the mortgage insurers ...
2007-12-14 09:16:00 -
UK banks crack down on mortgage fraud
Financial Times - The Council for Mortgage Lenders is also cracking down, working with police to investigate the possibility that organised criminals are operating in the market. “We are identifying two or three times as many cases of possible fraud as we did in the ...
2007-12-14 09:08:00
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