Mortgage and Financial News From 2007-12-14 Page 6

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  • U.S. No.1 mortgage lender under investigation

    Xinhua News Agency - The investigation in Illinois, first reported in the New York Times, grew out of a probe into broker One Source Mortgage, which the state has charged with luring borrowers into loans they could not afford, according to the report. Countrywide ...
    2007-12-14 03:42:00

  • Fitch Affirms 11 & Downgrades 3 RMBS Classes from 3 JP-ALT Deals

    Forbes - The underlying collateral for the aforementioned transactions consist primarily of fixed and adjustable-rate, conventional, fully amortizing, first lien residential mortgage loans extended to Alternative A (Alt-A) borrowers. The mortgage loans were ...
    2007-12-14 02:59:00

  • Fitch Takes Rating Actions on WMALT 2006-3 Securitizations

    Forbes - The collateral of the above transaction primarily consists of 15-year and 30-year fixed-rate mortgage loans extended to Alt-A borrowers and secured by first liens on single-family residential properties. As of the December 2007 remittance date, the ...
    2007-12-14 11:24:00

  • Senate votes to expand mortgage program

    USA Today - The bill, which passed on a 93-1 vote, would loosen underwriting standards and raise the size of loans that may be insured by the Federal Housing Administration. The FHA has said the changes should enable it to help 200,000 troubled borrowers save ...
    2007-12-14 02:52:00

  • Ill., Calif. Investigating Countrywide

    Newsday - In all, the lender originated 125,431 mortgage loans in November, compared with 199,929 in the same month last year. Countrywide said some 6.34 percent of the loans in its servicing portfolio were delinquent last month, up from 4.57 percent in the ...
    2007-12-14 02:09:00

  • U.S. Housing Crash Deepens in 2008 After Record Drop (Update2)

    Bloomberg - Lehman analysts estimate almost 1 million mortgage loans will default in 2008, up from about 300,000 this year. ``We're only halfway through the housing shock,'' said Ethan Harris, chief U.S. economist at New York-based Lehman, the fourth ...
    2007-12-14 02:30:00

  • CMG's 'Accelerator' Mortgage Deserves a Second Look (Washington Post)

    Two years ago, I wrote a fairly critical piece about CMG Financial's Home Ownership Accelerator mortgage loan program. I have since taken a closer look at the complicated program and have decided that my initial review did not do it justice.
    2007-12-14 04:17:40

  • Senate Passes Mortgage Bail-Out Bill (KAUZ Wichita Falls)

    CAPITOL HILL (AP) - The Senate has passed a bill that could provide some relief to families facing steep increases in their mortgage payments. The measure, approved by a 93-1 vote, would allow the Federal Housing Administration to back refinanced loans for homeowners facing foreclosure because of the ballooning interest rates on their subprime mortgages.
    2007-12-14 11:11:11

  • Senate passes mortgage relief bill (KRGV-TV Texas)

    WASHINGTON (AP) - Senators have overwhelmingly approved a bill that would let the government back refinanced loans for tens of thousands of homeowners caught in the subprime mortgage crisis.
    2007-12-14 02:35:16

  • Senate votes to expand mortgage program (USA Today)

    The Senate moved Friday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
    2007-12-14 02:43:48

  • Dollar at Six-Week Highs as Data Dent Rate View

    CNBC - ... sales mean that it's less likely that the Federal Reserve will have to cut rates ... had fallen by nearly 1 percent to as low as $1.4487, its lowest in over a month as ... Moody's ratings downgrade of Citigroup, hit hard by its exposure to subprime mortgage ...
    2007-12-14 04:22:00

  • Rental vacancy rates in B.C. fall for fourth year in a row

    Vancouver Sun - ... as rental vacancy rates declined for the fourth consecutive year, statistics released Thursday by the Canada Mortgage and Housing Corporation say. The rental survey saw a decline of apartment rental rates in B.C. drop to one per cent, the lowest rate ...
    2007-12-14 01:02:00

  • U.S. Stocks Drop as Inflation Tops Forecasts; Retailers Slump

    Bloomberg - ... consumer spending and give the Federal Reserve less leeway to cut interest rates ... Inc., the world's largest hotel company, declined $2.33 to $31.49, the lowest price ... than $11 billion on Dec. 18, boosted by $4 billion from bets on subprime mortgage ...
    2007-12-14 02:45:00

  • Rates rise, after declining trend (KJCT 8 Grand Junction)

    WASHINGTON (AP) - Mortgage interest rates have risen over the past week. Freddie Mac says fixed-rate mortgages averaged 6.11% this week. That's up from 5.86% last week, the lowest in more than two years.
    2007-12-13 11:38:58

  • Mortgage rates head back up (Honolulu Advertiser)

    Freddie Mac, the mortgage company, reported yesterday that 30-year fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of 5.96 percent, which was the lowest in more than two years.
    2007-12-14 04:25:16

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