Mortgage and Financial News From 2007-10-17 Page 19

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  • Commodity Traders Drive Hiring Amid Credit Shakeout (Update2)

    Bloomberg - The Standard & Poor's 500 Index, the benchmark for U.S. stocks, rallied 8.5 percent, held back by shares of banks, securities firms, mortgage lenders and homebuilders. Citigroup Inc., the biggest U.S. bank, is down 20 percent this year. ...
    2007-10-17 07:14:00

  • Paulson, Bernanke warn on housing slump

    Globe and Mail - The next shoe to drop could be the job market as housing-related industries lay off workers, including builders and mortgage lenders, he added. Holden Lewis, author of the Mortgage Matters blog said he has never seen the mood so glum at the Mortgage ...
    2007-10-17 05:48:00

  • Five ways to beat mortgage fees

    News.com.au - If you can't save up a full 20 per cent deposit, it's worth looking into guarantor options or hunting down lenders that allow a 15 per cent deposit with mortgage insurance.'' 3. Shop around and negotiate. "Upfront mortgage fees can run to as much as ...
    2007-10-17 06:02:00

  • Consumer inflation rises at fastest pace in 4 months

    Minneapolis Star Tribune - ... also fell sharply in September, dropping by 7.3 percent to 1.226 million units. Housing sales, which had set records for five straight years, have been slumping since 2006, a downturn that has intensified in recent months as mortgage lenders have ...
    2007-10-17 06:31:00

  • New home construction plummets lower than expected

    Chicago Tribune - Housing sales, which had set records for five straight years, have been slumping since 2006, a downturn that has intensified in recent months as mortgage lenders have tightened standards for getting loans in response to soaring defaults. Both Federal ...
    2007-10-17 06:02:00

  • September housing starts, permits fall to 14-year lows

    USA Today - ... says two out of three Americans expect home prices to stay the same or drop in the next year. Home sales, which set records for five straight years, have been slumping since 2006, a downturn that has intensified in recent months as mortgage lenders ...
    2007-10-17 07:28:00

  • Housing construction plunges

    BusinessWeek - That decline has intensified in recent months as mortgage lenders have tightened standards for giving loans in response to soaring defaults. The higher defaults and the inability of prospective buyers to qualify for mortgages have contributed to ...
    2007-10-17 08:25:00

  • Further fall in US home building

    BBC Business - The data put the number of new homes constructed at a seasonally adjusted annual rate of 1.19 million units. Permit requests fell to 1.23 million. House sales have been in decline since 2006 and the situation has been exacerbated as mortgage lenders ...
    2007-10-17 06:59:00

  • Colorado Mortgage Lenders Association

    Denver Business Journal - The Colorado Mortgage Lenders Association was founded in 1956 as the state trade association for the mortgage industry. The membership is comprised of companies, corporations and agencies whose business interests revolve around the mortgage lending ...
    2007-10-17 06:45:00

  • MGIC Posts First Loss on Writedown of Subprime Unit (Update5)

    Bloomberg - MGIC fell the most in two months in New York trading after the company reported third-quarter costs of $602.3 million, more than three times as much as a year earlier, to cover losses by the mortgage lenders it insures. Chief Executive Officer Curt ...
    2007-10-17 08:25:00

  • Shine On You Crazy Dimon

    Street.Com - Some 160 mortgage lenders have gone out of business or significantly retrenched their operations over the past two years -- and the news keeps getting worse. On Tuesday, the nation's biggest independent mortgage lender, Countrywide ( CFC - Cramer's ...
    2007-10-17 08:04:00

  • Mortgage demand climbs as rates hold steady

    USA Today - ... mortgage applications last week were 12.0% above their year-ago level. Some market analysts say mortgage application data has been inflated in recent months as prospective borrowers file multiple applications to obtain a single loan. Mortgage lenders ...
    2007-10-17 05:05:00

  • Thornburg loses $1B on mortgage woes

    CNN Money - Typically, mortgage lenders rely on secondary markets to sell current loans to fund future mortgages. With investors avoiding jumbo loans, Thornburg Mortgage was forced to slash the price on its loans just to sell them. The company decided not to pay ...
    2007-10-17 05:48:00

  • Lenders withdraw mortgage deals

    BBC Business - UK lenders have withdrawn 40% of their mortgage deals in the past three months, according to the financial information company Moneyfacts. Most of that has been due to the collapse of the market for sub-prime mortgages, with 54% of those policies ...
    2007-10-17 06:59:00

  • 40% of mortgage products off market (Channel 4)

    The number of mortgage products available has fallen by 40% during the past three months as lenders respond to the global credit crunch, a financial information group said.
    2007-10-17 04:26:04

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