Mortgage and Financial News From 2007-8-21 Page 21
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Countrywide ads tout safety amid report of layoffs
Reuters - Like many mortgage lenders, Countrywide has struggled with rising delinquencies and foreclosures, and an unwillingness among bankers to extend credit, and among investors to buy the loans it makes. Analysts have said difficult market conditions may ...
2007-08-21 12:05:00 -
Buyers for distressed mortgage debt scarce, but they exist, despite ...
Thunder Bay Chronicle-Journal - The exodus of buyers from the markets where mortgage lenders raise money has brought an entire industry to its knees. More than 50 lenders have gone bankrupt, and entire swaths of the industry have suddenly disappeared. Nearly all lenders say the ...
2007-08-20 10:18:00 -
Fed opens cash spigot as mortgage lenders reel from credit crisis -
Worldnews.com - 1 hour, 8 minutes ago NEW YORK (AFP) - Goldman Sachs, considered one of Wall Street's most prestigious investment banks , said Monday it had joined with other investors in a three-billion-dollar bailout of a ... NEW YORK (AP) - Executives of ...
2007-08-20 07:26:00 -
National City Rating Raised, Stock Stays Down
Forbes - In our view, traditional mortgage lenders should benefit from this crisis as they increase market share as the mortgage market becomes less cluttered with irrational competitors,†Chan said. For Chan, traditional mortgage lenders are banks and ...
2007-08-20 10:39:00 -
What if my mortgage lender goes bankrupt?
MSNBC - What happens if my mortgage lender goes broke? With so many lenders in financial trouble, I’m starting to wonder what will happen to my current loan if my lender declares bankruptcy. I’ve been assuming that the lender would have creditors and ...
2007-08-21 12:34:00 -
Societies losing mortgage share
Times Online - Additional figures from the Council of Mortgage Lenders showed gross lending rose to a July record. Bernard Clarke, of the CML, said: “The lending performance has been stronger in the banking and specialist sectors than in the building society ...
2007-08-20 07:33:00 -
Lenders 'bombard' American Home Mortgage
Newsday - The bankruptcy proceedings for Melville-based American Home Mortgage have been complicated by lenders "bombarding" the company with demands that it hand over loans it's servicing, an attorney for the company said Monday. Addressing U.S. Bankruptcy ...
2007-08-20 10:39:00 -
Northern Rock moves to allay investor worries
MSN MoneyCentral - Northern Rock has in recent months been hit by the growing gap between the Bank of England's base interest rate, which mortgage lenders use to set their prices, and the cost of funding loans through the wholesale markets. This has prompted ...
2007-08-21 04:08:00 -
Surge in remortgaging helps UK lending hit record high
The Independent - Mortgage lending soared to a record high in July, despite a squeeze in the sub-prime end of the market. The Council of Mortgage Lenders said yesterday that borrowers were rushing to remortgage in a climate of rising interest rates. However, at least ...
2007-08-21 12:48:00 -
As lenders tighten mortgage standards, credit unions stay the course
Marketwatch - CHICAGO (MarketWatch) -- As many mortgage lenders tighten loan underwriting standards and interest rates on jumbo mortgages rise, consumers may be able to find a friend in their credit union. One reason: Many (although not all) of the mortgage loans ...
2007-08-21 12:41:00 -
Capital One and the mortgage domino effect
CNN Money - Nearly 120 mortgage lenders in the past nine months have closed their doors, declared bankruptcy or been sold off to the highest bidder, including stock darlings like New Century Financial and private equity-owned businesses like Aegis. That's about ...
2007-08-20 11:36:00 -
Federal Home Loan Bank System opening cash spigots to mortgage lenders ...
San Diego Union-Tribune - WASHINGTON – The Federal Home Loan Bank system has increased low-cost lending to financial institutions in an effort to bolster credit stability. As the housing crisis worsens and the Federal Reserve has swooped into the market to ensure liquidity ...
2007-08-20 08:59:00 -
KKR sells off $5.1bn in mortgage securities (eFinancial News)
Dire pronouncements about the sub-prime mortgage market have led to a raft of asset sales as banks, financial firms and mortgage lenders including KKR Financial scurried to offload the offending securities or raise money to deal with the fallout.
2007-08-21 04:15:26 -
Group urges lenders to work with borrowers (Daily Bulletin)
LONG BEACH - Leaders of the California Association of Mortgage Brokers urged lenders to be more responsive to borrowers in trouble on their mortgages at a news conference Thursday at their state convention.
2007-08-20 09:35:59 -
Lenders attack American Home (Long Island Business News)
American Home Mortgage Holdings Inc. has "started to get bombarded" with demands from its lenders that it hand over home loans it's servicing.
2007-08-21 01:21:37