Mortgage and Financial News From 2007-10-30 Page 9

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  • Mortgage approvals drop 20 per cent in latest sign of slowdown (Belfast Telegraph)

    Further evidence of a slowdown in the housing market came yesterday as the Bank of England revealed figures showing that the number of mortgage approvals for home purchase fell from 108,000 in August to 102,000 in September, the lowest since July 2005. The number of approvals is down 20 per cent on the year.
    2007-10-30 05:22:41

  • UBS Swings to Loss, Facing Subprime Problems

    CNBC - UBS is the latest high-profile bank to take a big write-down on exposures to investments linked to U.S.  mortgage loans to people with patchy credit histories. The loss was larger than a Reuters poll of 14 analysts giving an average forecast of a 668 ...
    2007-10-30 06:58:00

  • Personal Loans For Your Immediate Financial Needs

    Best Syndication - Secured personal loans are loans given with your home as mortgage. In the case of secured personal loans, the interest rates demanded by the lenders will be lower and the loan simple and easier to manage. On the other hand, in case of default on the ...
    2007-10-30 12:56:00

  • GE Cuts Most Mortgage Staff

    Street.Com - ... said in September that it had roughly $1 billion in mortgage assets on its books and it was "aggressively" trying to sell WMC. GE spokesman Russell Wilkerson says there's still a "decent number of employees" at WMC and it still has loans on its books
    2007-10-30 12:42:00

  • Interest rates push credit defaults skyward

    News.com.au - The spike was revealed yesterday in a study by Veda Advantage, which showed a 35.5 per cent rise in defaults across credit card debt, personal loans and mortgages. NSW mortgage belt suburbs -- mainly in the central coast and western Sydney -- are ...
    2007-10-30 02:01:00

  • PMI Posts First Loss on Rising Home Borrower Defaults (Update3)

    Bloomberg - Premium revenue rose 20 percent to $256.8 million as the number and size of the loans insured by PMI increased. Mortgage insurers are selling more coverage as lenders seek to lower their risk and make loans attractive to investors. ...
    2007-10-30 10:55:00

  • Fitch Affirms PMI's IFS Rtg, Downgrades Debt Rtgs & Revises Outlook to ...

    Forbes - ... particularly on loans within specific geographies such as California and Florida as well as with certain types of loans, particularly subprime adjustable-rate mortgages and very high loan-to-value loans. As has been the case for other mortgage ...
    2007-10-30 11:45:00

  • MRU Holdings, Inc. Names John P. Derham as Chief Marketing Officer

    Forbes - John joins MRU Holdings as a seasoned expert with nearly 20 years of marketing and business development experience in credit cards and mortgage loans both domestically and abroad. His diverse marketing background coupled with a highly analytical ...
    2007-10-30 05:04:00

  • Southwest Georgia Financial Corporation Announces Earnings for the ...

    MSN MoneyCentral - Also, the level and timing of recognizing income from the mortgage banking business is dependent on many factors related to originating and closing relatively large commercial mortgage loans, and therefore can fluctuate from quarter to quarter ...
    2007-10-30 11:38:00

  • Heritage Capital Credit Corporation Expands Product Line to Include ...

    Forbes - HCPC) announces the expansion of its commercial mortgage products and its funding sources. The Company has established a new ... funding sources will include other conduit lenders, national banks and REITs that fund traditional commercial loans. These ...
    2007-10-30 11:38:00

  • US treasury calls on Congress to move housing-related legislation

    Forbes - Congress's Joint Economic Committee last week reiterated the importance of passing legislation to modernize the Federal Housing Authority (FHA) so that entity can insure larger mortgage loans. It also said Congress needs to approve legislation that ...
    2007-10-30 09:22:00

  • Sector Glance: Mortgage Insurers

    CNBC - The Walnut Creek, Calif.-based insurer writes policies protecting lenders from losing money when borrowers miss payments on home loans. PMI reported $372.8 million in losses from bad mortgage credit during the quarter. Plus, the company set aside ...
    2007-10-30 01:32:00

  • UPDATE 1-Moody's to complete ratings of 500 CDOs this week

    Reuters - The latest action comes as rivals Standard & Poor's and Fitch Ratings begin another round of reassessing misjudged ratings on subprime mortgage loans. Moody's on Tuesday began its second series of rating cuts or warnings for further cuts on at ...
    2007-10-30 01:39:00

  • Traders bet commercial mortgages to follow subprime

    Reuters - Hedge funds and other traders that have profited from huge drops in an index tied to home mortgage loans made to people with weak credit are now aiming at sister indexes based on loans for office buildings and hotels. That strategy challenges the view ...
    2007-10-30 01:54:00

  • Fitch Rates $823.9MM Thornburg Mortgage Securities Trust Series 2007-5

    Forbes - The mortgage pool for group 1 consists primarily of 919 recently originated, adjustable rate, conventional, first lien, one-to four-family, residential mortgage loans, a substantial majority of which have original terms to maturity of 30 years. As of ...
    2007-10-30 01:18:00

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