Mortgage and Financial News From 2007-9-27 Page 12

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  • BEA to raise mortgage rate amid squeeze

    Hong Kong Standard - A week after leading lenders lowered borrowing costs in response to the latest cut in the US Federal Reserve's fed funds rate, Bank of East Asia (0023) said yesterday it will raise its home mortgage interest rate by 25 basis points from next month ...
    2007-09-27 12:38:00

  • No subprime-style crisis on cards for UK -Moody's

    Reuters - However, "clearly we are entering a period of negative sentiment with regard to the UK mortgage market," he said, with lenders reporting growing levels of arrears and problem loans even before the turmoil of the summer. Continued... © Reuters ...
    2007-09-27 12:09:00

  • Freddie Mac Pays $50 Million to End SEC Fraud Probe (Update2)

    Bloomberg - The companies make money by holding mortgage assets and on guarantees of mortgage-backed securities they create out of loans from primary lenders. Under today's agreement, Glenn, also a former chief operating officer and vice-chairman ...
    2007-09-27 02:11:00

  • Turmoil stokes savings rates, dents confidence

    Reuters UK - LONDON (Reuters) - A war in the savings market has intensified, amid a global credit crunch that has hit Northern Rock and caused a string of lenders to raise their mortgage rates. Savers are continuing to reap the rewards of the squeeze that has ...
    2007-09-27 01:07:00

  • Goldman Sachs tiptoeing into the bear camp

    Daily Telegraph - He expects US house prices to drop 7pc in 2007 and another 7pc in 2008, as mortgage lenders shut off credit to chunks of the market. "The US is often a leading indicator for what happens in the rest of the world". Mr Berezin said construction booms ...
    2007-09-27 10:01:00

  • Rep. Frank's mortgage bill calls for broad reforms, strengthened ...

    CNBC - Frank has said all year that he plans to introduce comprehensive legislation that would overhaul regulation of mortgage lending, arguing that many lenders found ways to operate outside of the existing regulatory structure. But Frank, who frequently ...
    2007-09-27 08:13:00

  • Infosys Gets a Lift

    Street.Com - ... as problems in the credit and mortgage markets shake their clients in the financial services industry. Many of the big banks that outsource their IT functions have seen investors lose enthusiasm for the debt products they package for mortgage lenders ...
    2007-09-27 10:51:00

  • Credit Crunch Yet To Hit Mortgages

    Ananova - Mortgage lenders say there should be enough money to lend to people looking for homes despite the current turmoil in credit markets. The availability of mortgages was unchanged during the three months to mid-September, and the amount of money they ...
    2007-09-27 11:48:00

  • Prediction: Mortgage foreclosures will get worse

    Salem News - Tina Brooks, state undersecretary of Housing and Community Development, told a Statehouse hearing that tighter regulation of mortgage lenders would curb the abusive practices that have led to the spike of foreclosures. "We haven't seen the worst yet ...
    2007-09-27 09:03:00

  • FTSE ends up on Northern Rock bid talk

    MSN UK News - Shares in housebuilders also rose with the recovery in the mortgage lenders. Barratt Developments added 3.7 percent, Persimmon advanced 4.7 percent and Taylor Wimpey climbed 6.6 percent. Private equity firm 3i added 1.2 ...
    2007-09-27 01:35:00

  • US 30-year mortgage up in latest week -Freddie Mac

    Reuters - Lenders also charged 0.6 percent on the one-year ARM, down from 0.9 percent last week. Freddie Mac is a mortgage finance company chartered by Congress that buys mortgages from lenders and packages them into securities to sell to investors or to ...
    2007-09-27 12:24:00

  • American Home Mortgage places blame on others for 564 bounced property ...

    CNBC - While lenders were able to seize their funds, American Home Mortgage refused to relay vital account information that would have allowed Freddie Mac to pay property taxes on the accounts. Mortgage servicers typically collect property tax payments each ...
    2007-09-27 12:52:00

  • Rep. Barney Frank mulls mortgage reform: document (Reuters via Yahoo! News)

    Mortgage servicers would bear some liability for failing loans and some broker incentives would be banned under a bill being drafted by the head of the U.S. House Financial Services Committee, according to an outline of the legislation obtained by Reuters.
    2007-09-27 11:39:23

  • Lenders could take chance to cut proc fees (Money Marketing Online)

    Mortgage lenders could use the current market problems to cut the cost of acquisition and reduce procuration fees for brokers.
    2007-09-27 02:24:36

  • Sector Snap: Mortgage Lenders (Sharewatch)

    NEW YORK (AP) - Shares of mortgage lenders were mixed Thursday after a report showed sales of new homes continued to slump last month.
    2007-09-27 11:45:48

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