Mortgage and Financial News From 2007-8-23 Page 6

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  • Fitch assumes more mortgage defaults

    Boston Globe - Fitch hiked the likelihood of default in its model by 20 percent to better reflect the risks of the current mortgage market, which has been marked by deteriorating home prices and decaying credit quality. Also, Fitch will dock companies for ...
    2007-08-23 03:48:00

  • On The Move For Thursday, Aug. 23

    Forbes - Shares of Countrywide Financial are soaring after Bank of America announced late yesterday it’s buying $2 billion in shares of the nation’s largest home mortgage lender. Shares of the company rose more than 8% in early trading. Shares of Lehman ...
    2007-08-23 03:40:00

  • Sector Snap: Mortgage lenders rally

    Boston Globe - NEW YORK -- Shares of mortgage lenders climbed Thursday a day after Bank of America Corp. said it invested $2 billion in Countrywide Financial Corp. , alleviating a funding crisis at the nation's largest home lender. Shares of Thornburg Mortgage Inc ...
    2007-08-23 05:28:00

  • Rates on 30-year mortgage rates sink

    Boston Globe - WASHINGTON -- Rates on 30-year mortgages sank this week to their lowest point since late May, providing a little ray of sunlight for would-be home buyers. Freddie Mac , the mortgage company, reported Thursday that 30-year, fixed-rate mortgages ...
    2007-08-23 05:49:00

  • HSH Nordbank says has 1.8 bln eur exposure to US mortgage market, is ...

    Forbes - HAMBURG (Thomson Financial) - HSH Nordbank AG, a state-owned bank, said it has no liquidity problem and its indirect exposure to the US home mortgage market totals 1.8 bln eur, all of which are asset-backed securities of high quality. The bank also ...
    2007-08-23 11:30:00

  • Layoffs grow in mortgage industry

    Detroit Free Press - Sygit notes that Franklin Mortgage Funding, a subprime lender in Southfield, laid off 120 people earlier this year, Aegis in Troy let 25 people go three weeks ago, American Home Mortgage laid off 25 employees at its Farmington Hills underwriting ...
    2007-08-23 01:03:00

  • Mortgage Stocks Rally on News of Countrywide Investment

    CNBC - Shares of Thornburg Mortgage , Accredited Home Lenders Holding and other mortgage stocks were trading higher Thursday after Bank of America made a $2 billion investment in Countrywide Financial . By late morning, Thornburg shares were trading up 4.8 ...
    2007-08-23 03:55:00

  • Sector Snap: Mortgage Lenders Rally (AP via Yahoo! Finance)

    Shares of mortgage lenders climbed Thursday a day after Bank of America Corp. said it invested $2 billion in Countrywide Financial Corp., alleviating a funding crisis at the nation's largest home lender.
    2007-08-23 05:11:46

  • Expert says home mortgage problems don't affect most people (The Times of Northwest Indiana)

    MERRILLVILLE | Many business analysts blamed the home mortgage industry for last week's stock market plunge.
    2007-08-23 06:44:24

  • Housing woes hit high end too

    CNN Money - BankRate.com reports that the average tariff on jumbo loans soared to 7.35% nationally in August, and many mortgage brokers are reporting figures that exceed 8%. Increased rates on big home loans translate to a substantial decline in buying power ...
    2007-08-23 04:09:00

  • Home loan demand surges as interest rates dive -

    Worldnews.com - By Julie Haviv 16 minutes ago NEW YORK (Reuters) - U.S. mortgage applications rose for the first time in three weeks as interest rates fell sharply and demand surged for home purchase and refinance loans, an industry group said on Wednesday. The ...
    2007-08-23 01:24:00

  • The Bank of Japan's Even Keel

    BusinessWeek - The Bank of Japan's Even Keel The BOJ opts not to raise ultra-low interest rates amid the U.S. subprime mortgage crisis, even though they may encourage risky investments by Kenji Hall
    2007-08-23 04:02:00

  • Wall Street shares decline again

    BBC Business - Sub-prime default levels have risen to record highs over the past year in the face of higher US mortgage rates, raising fears that this could hamper credit availability in the broader market, beyond the home loan sector. The Fed has now injected ...
    2007-08-23 05:14:00

  • Fitch Rates Morgan Stanley Capital I Trust 2007-IQ15

    Forbes - Morgan Stanley Capital I Trust 2007-IQ15, commercial mortgage pass-through certificates are rated by Fitch Ratings as follows: --$61,700,000 Class A-1 'AAA'; --$278,738,000 Class A-1A 'AAA'; --$227,400,000 Class A-2 'AAA'; --$72,800,000 Class A-3 ...
    2007-08-23 04:38:00

  • More than 40,000 jobs lost in mortgage mess

    Miami Herald - For five years, the nation's housing market was booming and mortgage companies grew quickly. But as home values declined and interest rates rose, rising delinquencies and defaults -- especially in subprime mortgages -- have pounded lenders who couldn ...
    2007-08-23 01:53:00

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