Mortgage and Financial News From 2007-10-19 Page 6

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  • HSBC Is Sued Over Valuation Of Fund's Bonds

    Wall Street Journal - Real-estate investment trusts such as Luminent have suffered as defaults on riskier mortgage loans have shot up and the value of bonds backed by those loans has plummeted. Luminent's stock price has fallen more than 70% over the past three months. ...
    2007-10-19 05:06:00

  • Accredited Announces Plans to Delist and Deregister REIT Preferred ...

    Forbes - Accredited is in the business of originating, financing, securitizing, servicing, and selling non-prime mortgage loans secured by residential real estate. Founded in 1990, the company is headquartered in San Diego. Additional information may be found ...
    2007-10-19 02:07:00

  • Fitch Ratings Affirms 1 RMBS Class from Fidelity Funding 1997-1

    Forbes - The affirmation, affecting approximately $1.6 million of the outstanding certificates, reflects a stable relationship between credit enhancement and expected loss. The mortgage loans collateralizing series 1997-1 are serviced by Select Portfolio ...
    2007-10-19 12:05:00

  • Fitch Affirms $93.2MM & Downgrades $14.5MM from Meritage Mortgage Corp ...

    Forbes - The mortgage loans were originated by Meritage Mortgage Corp. The loans are serviced by Saxon Mortgage Services, Inc., rated 'RPS2+' by Fitch. Fitch will closely monitor the relationship between XS and monthly losses for those transactions in the ...
    2007-10-19 09:27:00

  • Dow drops 360 amid lackluster profits, credit concerns

    Minneapolis Star Tribune - ... the pace of the U.S. economy and the pace of earnings growth," said Art Hogan, chief market strategist at Jefferies & Co. Hogan noted that for much of the week investors focused on results from banks, which saw profits drop on souring mortgage loans ...
    2007-10-19 02:57:00

  • S&P Lowers Ratings on 1,413 U.S. RMBS Classes Backed by Subprime ...

    Forbes - NEW YORK, Oct. 19 /PRNewswire/ -- Standard & Poor's Ratings Services announced today that it has downgraded 1,413 of U.S. residential mortgage- backed securities (RMBS) backed by first-lien subprime mortgage loans that were issued from the beginning ...
    2007-10-19 11:58:00

  • 10% drop in net at Wachovia for mortgage troubles confirm the financial meltdown and banking troubles ahead (India Daily)

    Wachovia is primarily a retail bank involved in consumer and small business lending. The plummeting profit at Wachovia is another signal of deep trouble in the mortgage sector. Wachovia wrote down a record $1.3 billion for bad loans and mortgage-backed securities.
    2007-10-19 08:11:36

  • S&P Lowers Ratings on 1,413 U.S. RMBS Classes Backed by Subprime Mortgage Loans from the 4Q 2005 - 4Q 2006 (PR Newswire via Yahoo! Finance)

    Standard & Poor's Ratings Services announced today that it has downgraded 1,413 of U.S. residential mortgage- backed securities backed by first-lien subprime mortgage loans that were issued from the beginning of the fourth quarter of 2005 through the fourth quarter of 2006.
    2007-10-19 11:56:00

  • Your Money (The Daily Record)

    Whether you have made a conscious decision to move from a dual-income to a single-income situation or you find yourself in this position unexpectedly, there are actions you can take to minimize the financial impact.
    2007-10-19 03:17:40

  • First-time buyers pay over the odds (Money Observer)

    Housing associations are selling new-build part-rent/part-buy homes to financially stretched young adults at prices above the level paid by the association itself, Guardian Money has learned.
    2007-10-19 05:20:07

  • Group urging residents to consider flood threat (Bowling Green Daily News)

    There are just 58 flood insurance policies issued in Warren County, while there are some 1,400 structures in flood plains. Anyone who has a mortgage on property in a 100-year flood plain is required to have that flood insurance.
    2007-10-19 02:16:38

  • Persistence Pays Off When Loan Modification Saves House and Credit (Washington Post)

    A loan modification is a change in the loan contract agreed to by the lender and the borrower. The modifications getting attention now are those designed to reduce the payment burden on borrowers faced with impending interest rate increases that will make monthly payments unaffordable to them. Many are subprime borrowers.
    2007-10-19 02:11:42

  • Rurban Financial Corp. Reports 6.1 Percent Increase in Third Quarter ...

    MSN MoneyCentral - The recent 50 basis point reduction in the Federal Funds Discount Rate and the subsequent change in the prime rate should improve net interest income over the course of the next six to twelve months as our Bank is liability-sensitive. We had a number ...
    2007-10-16 05:59:00

  • Bridge Bancorp, Inc. Reports Increased Third Quarter 2007 Earnings

    Forbes - growth in net interest income of 13.3% for the third quarter and 5.5 ... volatility resulting from the continued fallout of sub-prime lending and the global liquidity crises. The Federal Reserve responded by lowering the targeted federal funds rate and ...
    2007-10-19 01:59:00

  • America's Forgotten War Against the Central Banks

    Safe Haven - Gold reached a peak of US$850 on Jan 21, 1980 amidst soaring interest rates. The U.S. Prime rate hit 20% in April 1980 and stayed there (with a brief dive in mid-1980) until the end of 1981. This resulted in a rush out of gold and back to U ...
    2007-10-19 02:50:00

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