Mortgage and Financial News From 2007-10-19 Page 12

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  • UPDATE: Chairman Quits At Troubled U.K. Lender Northern Rock (Nasdaq)

    LONDON (Dow Jones) -- Matt Ridley, chairman of stricken U.K. mortgage lender Northern Rock, has resigned, the bank announced Friday. He will be replaced by Bryan Sanderson, a former chairman of health insurance firm BUPA and emerging markets-focused bank Standard Chartered .
    2007-10-19 10:09:22

  • Nigeria: Yar'Adua Decries State of Mortgage System (AllAfrica.com)

    President Umaru Musa Yar'Adua has expressed displeasure over the poor state of Nigerian mortgage system which, he said, is not developed enough to meet the housing needs of Nigerians.
    2007-10-19 06:26:42

  • Unlicensed Mortgage Loan Officers Keep Going and Going (Washington Post)

    Recently, I've been reporting on a company that two states - Maryland and Georgia -- have said is operating without a license to originate mortgage loans. Given the current state of the mortgage industry, I think it's important to expose such companies.
    2007-10-19 04:57:57

  • Buyers need two types of title insurance (Lawrence Journal-World)

    Q: I am purchasing my first home. My mortgage broker says I should purchase two different title-insurance policies — one for the bank and the other for me — but I think he is only trying to increase his profits by selling me “extra” insurance that I do not need. What do you think?
    2007-10-18 10:07:03

  • FSA fines Minel for lifetime mortgage selling failures (Banking Business Review)

    The Financial Services Authority of UK has fined The Minel Group, a mortgage and general insurance intermediary, GBP10,500 for exposing consumers to the risk of being sold an unsuitable equity release mortgage.
    2007-10-19 03:01:03

  • View the Latest Independent Annual Forecasts for the UK Mortgage ...

    PR Inside - Moreover, niche mortgage lenders, particularly sub-prime lenders, have raised their prices following the US sub-prime mortgage debacle. Despite expected lower lending levels in the last few months, the fact that the mortgage market delivered a record ...
    2007-10-19 04:12:00

  • Wachovia earnings hurt by credit market

    CNN Money - Investors expressed concern then, and continue to do so today, skeptic if the bank's $24 billion purchase last year of one of the country's largest mortgage lenders was a smart bet. But bank executives say the doubters are wrong and insist the ...
    2007-10-19 09:35:00

  • UPDATE 1-RESEARCH ALERT-Friedman cuts BankUnited, FirstFed

    Reuters - The brokerage said it believed most thrifts and mortgage lenders will trade below their book value until the market sees stabilizing credit trends. Friedman said the eroding credit trends were likely to put significant pressure on all mortgage ...
    2007-10-19 07:40:00

  • Russo vows to get tough on lenders

    Oakland Tribune - Russo said he believes Oakland was targeted a few years ago by predatory lenders — mortgage brokers offering loans requiring little money down and with variable interest rates earmarked to reset to high rates two or three years into the loan to ...
    2007-10-19 07:40:00

  • The minimum on mortgage loans

    MLive.com - He's on the right track. Mortgage lenders and brokers are subject to a patchwork of federal and state rules. There should be national standards that set minimum requirements to protect borrowers, lenders and investors against future meltdowns. The ...
    2007-10-19 07:40:00

  • Gross mortgage lending falls by 12% in September (Banking Business Review)

    Gross mortgage lending fell by nearly 12% in September compared with August, to an estimated GBP30 billion according to new data from the Council of Mortgage Lenders of UK.
    2007-10-19 03:00:53

  • Homeowners face challenging mortgage market (Reuters.co.uk)

    LONDON (Reuters) - Mortgage hunters are facing increasingly tough times as the market shrinks and lenders re-assess risk.
    2007-10-19 01:27:10

  • Jackson: Lenders prey on minorities in Detroit (Detroit News)

    Accusing unscrupulous lenders of targeting Detroit minorities for subprime loans, the Rev. Jesse Jackson on Thursday called for a moratorium on foreclosures and increased regulation of the mortgage industry.
    2007-10-18 11:05:29

  • Lenders balk at Patrick foreclosure program (Boston Globe)

    Governor Deval Patrick's foreclosure-prevention program, which he unveiled yesterday, has so far failed to win broad support from mortgage lenders.
    2007-10-19 02:46:13

  • Clarkston Financial Corporation Reports Q3 & 9-Month Results

    MSN MoneyCentral - Factors that may cause such a difference include: changes in interest rates and interest-rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulations ...
    2007-10-19 07:11:00

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