Mortgage and Financial News From 2008-3-9 Page 4

Previous Day: 2008-03-08

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• Mortgage Newsletter

  Colleyville Courier - 150,000 Loan for $391/month - Refinance, Home Equity and Purchase. Historic Low Rates From Top Lenders - No Obligation, No SSN Required & Bad Credit OK.
  2008-03-09 10:21:00

• OTC business (The Hindu)

  Credit derivatives are a part of the over-the-counter or OTC business — they are not like exchange-traded derivatives in equities and bonds. The OTC derivatives business consists of interest rate swaps, exchange rate swaps, equity-linked swaps, property derivatives and other complex products.
  2008-03-09 01:04:20

• Economic Stimulus Package Generates Mixed Response from Industry (Multi-Housing News)

  Washington D.C.-- Kieran P. Quinn, CMB, chairman of the Mortgage Bankers Association (MBA) praised the Bush administration’s new stimulus package, announced this week, that includes housing provisions designed to help borrowers and stabilize the housing and mortgage markets.
  2008-03-09 06:02:09

• Mortgage lenders see more borrowers give up (USA Today)

  On the front lines in the mortgage foreclosure crisis, lender and loan servicer Dennis Lauria says his deepest losses are from borrowers who owe more than their homes are worth and simply mail in the keys, rather than try to work out a new payment plan.
  2008-03-09 08:06:38

• Australian banks to feel pinch from credit crisis (Reuters Finance News, Australia via Yahoo!7 Finance)

  SYDNEY, March 10 (Reuters) - Australian banks, known for their conservative lending, have long benefitted from solid credit and economic growth, but troubles at highly geared firms, such as Allco Finance AFG.AX, are set to change the prospects.
  2008-03-09 08:13:11

• US recession fears to hit Asian shares

  Stockhouse Canada - Meanwhile, in more bad news out of credit markets, mortgage lender Thornburg Mortgage said that its survival hangs in balance because it cannot meet its own lenders' demands for $US610 million of cash or collateral
  2008-03-08 03:56:00

• Mortgage Mess Is Not All Bad In Maine

  WLBZ 2 - According to Melinda Boehm of the Mortgage Bankers Association of Maine, if you've got good credit and a job, it is no more difficult for you to get a loan than it was before.
  2008-03-06 03:58:00

• Rules changed to keep big exec bonuses

  MSNBC - Despite being hard hit by the housing and mortgage slump, some companies ... That’s the result when you take out the bad stuff that could drag down ... filing that its board changed the executive pay structure to exclude certain credit ...
  2008-03-06 03:58:00

• Thornburg Can't Meet Margin Calls, Survival in Doubt (Update5)

  Bloomberg - No one has had anything bad to say about Thornburg; they have served the good-quality, high end of the ... Standard & Poor's said this week that the credit quality of Thornburg's mortgage portfolio ``remains extremely sound.'' Bill Gross , who ...
  2008-03-07 03:36:00

• Lenders face jeopardy as market flattens

  Financial Times - ... increased tightening of underwriting standards and increases in bad debt mitigation, such as repossession," warns Michael Helsby, banking analyst at Morgan Stanley. The fundamental question is how the credit squeeze will impact the cost of mortgage ...
  2008-03-07 10:52:00

• Stocks Falter

  Washington Post - ... an attempt to get the nation's credit machine running again. Every sector but utilities, which increased 0.1 percent, declined this week, according to Standard & Poor's. Driving down financial stocks was continued bad news coming from the mortgage ...
  2008-03-07 07:32:00

• Isakson pushes tax credit to attract buyers

  Atlanta Journal Constitution - Q. Why would it be a mistake (to give bankruptcy judges the ability to change terms of mortgage credit) ... To attract money back to mortgages, the rates would have to go back up, which would be bad for consumers.
  2008-03-06 03:58:00

• Mortgage Rates Change In the Blink of an Eye

  Washington Post - The average rate on a 30-year, fixed-rate mortgage to people with sound credit was 6.875 percent on Thursday, up from 6 percent on Feb. 29 ... During the day Thursday and Friday, traders on international financial markets dealt with a barrage of bad ...
  2008-03-07 08:36:00

• Credit crisis seen lasting until after summer

  International Herald Tribune - BRUSSELS : The global credit crisis stemming from the U.S. subprime mortgage woes may last until after summer holidays in Europe, longer than ... of portfolios immediately we are opting for short-term pain and we are not sweating our bad credit over ...
  2008-03-08 02:56:00

• CREDIT WRAPUP 2-Thornburg in danger; WaMu takes ratings hit

  Forbes - ... offered in upcoming Term Auction Facility auctions, announced in December to help counter the credit crunch that resulted from last year's mortgage ... The bad news on jobs was sharply contrary to Wall Street economists' forecasts that 25,000 jobs ...
  2008-03-07 03:36:00

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