Mortgage and Financial News From 2007-8-29
Previous Day: 2007-08-28
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Mortgage review sessions get borrowers to City Hall
Union Leader - MANCHESTER – Interest was high yesterday at free information sessions on mortgage issues, with people showing up at City Hall before ... We hope by being here, people will get out in front so they can go back to their lenders and refinance if that is ...
2007-08-29 03:02:00 -
Thornburg Returns $5.1M Owed To Wachovia That Was Subject Of Suit (KOAT Albuquerque)
Santa Fe-based Thornburg Mortgage has returned $5.1 million it owed Wachovia's banking unit from an unwound series of derivatives transactions.
2007-08-28 07:03:28 -
Mortgage review sessions get borrowers to City Hall (New Hampshire Union Leader)
Interest was high yesterday at free information sessions on mortgage issues, with people showing up at City Hall before the scheduled start of discussions with New Hampshire Banking Department officials.
2007-08-29 04:03:06 -
Homeowners share subprime horror stories
New York Daily News - The scandal of homebuyers relying on subprime mortgage loans has hit hard and deep in the Bronx. A panel of legislators last week heard horror stories of residents near homelessness. Particularly hard hit have been large areas of the north Bronx ...
2007-08-28 06:23:00 -
Calls grow louder for international overview of U.S. markets
International Herald Tribune - Some financial institutions are managing the risk from nontraditional mortgage loans by following more prudent underwriting, the U.S. Federal Deposit Insurance Corporation said in September 2006, while some are "spreading the risk of these products ...
2007-08-28 06:12:00 -
UK mortgage approvals decline
Financial Times - The number of mortgages approved by lenders fell in July, adding to evidence that higher borrowing costs are cooling the housing market. The British Bankers’ Association said there were 66,965 loans approved for house purchase last month, 11 per ...
2007-08-29 01:43:00 -
Flagstar Declares Cash Dividend
Forbes - At June 30, 2007, Flagstar operated 156 banking centers in Michigan, Indiana and Georgia and 73 home loan centers in 19 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans. SOURCE ...
2007-08-28 10:58:00 -
Court OKs Sale of HomeBanc Mortgages
CNBC - Like other mortgage companies that have recently gone under, Atlanta-based HomeBanc is swiftly selling assets, including mortgage loans it agreed to fund before seeking bankruptcy protection. As of June 30, HomeBanc's assets totaled $5.1 billion with ...
2007-08-28 10:15:00 -
Fitch Affirms All Classes of Morgan Stanley 1998-XL1
Forbes - The certificates are collateralized by five mortgage loans, government securities that support the defeasance of two of the original loans and partial defeasance of two other loans (32.8%), and one real estate owned property (REO), The Charlestowne ...
2007-08-28 06:33:00 -
Aftershocks From The Subprime Quake
Forbes - Our [multifamily] caseloads have more than doubled since last year," reports Keith Aurzada, a Powell Goldstein attorney who almost exclusively represents large lenders dealing with delinquent mortgage loans. "In the next six months you will see a ...
2007-08-28 09:04:00 -
Bad decisions do not deserve state help
Tribune Chronicle - Ohio is among states hit hardest by the bursting bubble of adjustable-rate mortgage loans. A task force appointed by Gov. Ted Strickland to look into how state government should respond is recommending dramatic, expensive action. At some point ...
2007-08-29 03:38:00 -
CIT Group closes mortgage unit, cuts 550 jobs (Reuters via Yahoo! News)
CIT Group Inc , the consumer and commercial finance company, said on Tuesday it has closed its mortgage lending operations, resulting in the loss of 550 jobs across 25 offices.
2007-08-28 03:52:17 -
CIT Group closes mortgage unit, takes charge (Reuters via Yahoo! News)
CIT Group Inc , the consumer and commercial finance company, on Tuesday said it has closed its mortgage lending operations, the latest to abandon the sector amid difficult market conditions.
2007-08-28 03:41:28 -
CIT Group closes mortgage unit, cuts 550 jobs (Washington Post)
NEW YORK (Reuters) - CIT Group Inc (CIT.N), the consumer and commercial finance company, said on Tuesday it has closed its mortgage lending operations, resulting in the loss of 550 jobs across 25 offices.
2007-08-28 04:35:34 -
One Mortgage Lender, at Least, Is Hiring (New York Times)
IndyMac Bancorp said it had hired more than 600 former employees of the American Home Mortgage Investment Corporation and might hire 250 more.
2007-08-29 02:12:23