Mortgage and Financial News From 2008-5-15 Page 5
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Fitch Takes Various Rating Actions on 7 Bear Stearns Alt-A ... - Forbes
--Structured Asset Mortgage Investments II Trust, Series 2007-AR5 --Structured Asset Mortgage Investments II Trust, Series 2007-AR7 A spreadsheet detailing Fitch's rating actions on the transactions in question is available on the Fitch Ratings web ...
2008-05-15 02:38:00 -
So-called jumbo loans still hard to get - ScrippsNews
Higher loan limits, set by the federal government as part of an economic stimulus package early this year, were supposed to make jumbo loans more affordable in expensive housing markets. Rates finally have come down on these so-called "jumbo ...
2008-05-15 02:16:00 -
Prospects of cheaper loans hit as inflation forecast sends Libor ... - Times Online
Hopes of imminent cuts in new mortgage rates were dashed yesterday as the Bank of England’s inflation judgment sent money market interest rates soaring for a second successive day. Three-month sterling Libor, the benchmark rate used to price many ...
2008-05-15 02:31:00 -
Barclays dramatically increases share of new mortgage lending - Daily Telegraph
Barclays has dramatically increased its share of new mortgage lending in the UK since Northern Rock took itself out of the market and other banks have become increasingly reluctant to lend. Woolwich is taking market share from other lenders The bank ...
2008-05-15 12:51:00 -
Fitch Affirms $581.3MM from 3 Green Tree & Lake Country 2005-2006 ... - StreetInsider.com
Fitch Ratings has taken the following rating actions on Green Tree Mortgage Loan Trust mortgage pass-through certificates. Unless stated otherwise, any bonds that were previously placed on Rating Watch Negative are removed from Rating Watch Negative ...
2008-05-15 12:22:00 -
Bernanke: Banks must get better at foreseeing risk - San Diego Union-Tribune
WASHINGTON – Commercial banks and other financial institutions need to beef up their ability to detect and protect themselves against risks like the credit and mortgage debacles, Federal Reserve Chairman Ben Bernanke said Thursday. The trio of ...
2008-05-15 09:59:00 -
Lampert buys stakes in Centex, KB Home, PHH (INO News)
(AP:NEW YORK) Billionaire investor and Sears Holdings Corp. Chairman Edward Lampert acquired shares of two homebuilders and a mortgage lender during the first quarter and added a 6-million-share stake in student lender SLM Corp., according to a quarterly regulatory filing.
2008-05-15 03:20:24 -
Kiwibank ambush takes rates below 9% (NZCity)
Kiwibank has once again ambushed its bigger competitors this morning, cutting its two-year fixed mortgage rate by 0.3 percent. It is now down to 8.99 percent, the first time two-year loans have been below 9 percent in six months.
2008-05-15 03:24:32 -
BofA CFO backs accounting method (The Charlotte Observer)
Bank of America Corp.'s Chief Financial Officer Joe Price on Thursday said the Charlotte bank backs "fair-value" accounting that has required banks to take big writedowns due to the falling value of mortgage-related investments. During a speech at the Chicago Federal Reserve Bank, Price acknowledged this so-called "mark-to-market accounting" is making things worse for banks by making them take ...
2008-05-15 03:32:04 -
Record Second Quarter Earnings Reported by Meta Financial Group (PR Newswire via Yahoo! Finance)
Meta Financial Group reported diluted earnings per share of $1.16 for the second quarter of 2008 on net income of $3.0 million.
2008-05-15 03:33:00 -
Beware the Dreaded Piggyback Loan (NYTimes.com via Yahoo! Finance)
So-called piggyback loans have been highly vulnerable to homeowners who walk away when property values fall.
2008-05-15 03:37:46 -
Judge Says Countrywide Officers Must Face Suit by Shareholders (NYTimes.com via Yahoo! Finance)
Directors and officers of Countrywide, the beleaguered mortgage lender, will have to answer shareholder accusations of insider trading and a failure to monitor lending practices.
2008-05-15 03:38:16 -
Top Scoops (Scoop.co.nz)
Three days after the Chicago Sun-Times reported that Aiham Alsammarae, the former electricity minister convicted of corruption in Iraq, put up $2.7 million in property to help raise $8.5 million to free Tony Rezko from jail in Chicago, the Times reported that Alsammarae had contributed six times to Obama's presidential campaign.
2008-05-15 03:39:44 -
Dispute hangs up housing rescue deal (AP via Yahoo! News)
Negotiations on a homeowner rescue package that could help half a million strapped borrowers get government-backed mortgages hit a snag Thursday over how to pay for the plan.
2008-05-15 03:47:17 -
Fitch Rates Massachusetts HFA $11MM Housing Bonds 2008A Block III ´AA-´ (wallstreet:online AG)
Fitch Ratings has assigned an ´AA-´ rating to Massachusetts Housing Finance Agency´s
2008-05-15 03:48:52