Mortgage and Financial News From 2007-10-17 Page 4

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  • End risky deals, Chancellor tells lenders

    Daily Telegraph - Mortgage lenders have been warned by the Chancellor to stop giving money to people ... If lenders take a more robust view of what they are doing that is not a bad ... sector, as banks and building societies withdrew loans for people with poor credit ...
    2007-10-17 06:19:00

  • Senator tells credit bureaus to drop freeze fees

    Boston Globe - The association's membership includes credit and mortgage reporting agencies, collection services companies and tenant and ... Last year, 8.4 million Americans were victims of identity theft and many were left with a bad credit report, which ...
    2007-10-17 02:59:00

  • Yen Near Two-Week High Versus Dollar on Rising Credit Concerns

    Bloomberg - Yen Near Two-Week High Versus Dollar on Rising Credit Concerns By Bo Nielsen and ... If the housing market is bad enough to tip the U.S. into recession then it will ... Poor's lowered ratings on $23.4 billion of subprime and Alternative-A mortgage ...
    2007-10-17 04:54:00

  • Washington Mutual's 3rd-quarter profit shrinks 72 percent

    Seattle Post Intelligencer - ... as sagging home prices made it harder for borrowers to pay their bills and hurt the value of the bank's portfolio of mortgage ... Mutual last year socked away $967 million to prepare for borrowers defaulting on their debt, mostly mortgages and credit ...
    2007-10-17 05:08:00

  • Senator tells credit bureaus to drop freeze fees (Reuters via Yahoo! News)

    Sen. Charles Schumer on Wednesday threatened legislative action unless U.S. credit bureaus stop charging fees for freezing a consumer's credit history report to prevent identity theft.
    2007-10-17 02:08:27

  • J.P. Morgan profit, stock rise; housing to stay weak (Market Watch)

    NEW YORK (MarketWatch) -- J.P. Morgan Chase said third-quarter net income rose 2% despite more than $1.5 billion of write-downs and losses due to risky corporate lending and falling mortgage values. By contrast, rival Citigroup on Monday said that its profit for the same period fell 57% after accounting for previously announced write-downs for bad loans and other credit issues. J.P. Morgan's ...
    2007-10-17 06:26:09

  • US banks' profits hit

    News.com.au - As trends over the last four or five years start to play in reverse, it becomes a difficult environment for banks to manage ... Clearly, weakness in the housing market and higher delinquencies in mortgages remains a headwind for the banking industry ...
    2007-10-16 01:27:00

  • Regional Banks' Earnings Hurt by Housing

    CNBC - ... and other U.S. regional banks Tuesday reported disappointing third-quarter results, hurt by mounting losses from mortgages and ... As trends over the last four or five years start to play in reverse, it becomes a difficult environment for banks to manage ...
    2007-10-16 10:21:00

  • GREEN THUMB

    Wall Street Journal - This kind of mortgage amounts to a bet that the dollar won't weaken much more or that it will reverse direction. Though common in Europe, foreign-currency mortgages are novel in the U.S. Some banks, including HSBC Holdings PLC, have offered foreign ...
    2007-10-12 05:57:00

  • CircleLending to Become Virgin Money USA

    FOX News - CircleLending now has $200 million in loans on its books _ ranging from short-term loans for debt refinancing or other personal needs, to reverse home mortgages and small business expenses. Because borrower and lender know one another, loans typically ...
    2007-10-14 05:54:00

  • Seniors Money International Announces Canadian Board of Directors

    CNW Group - Globally, the company specializes in the business of reverse mortgages, working within a strong, stable financial organization with over $650 million in loans under administration. Seniors Money Canada is the Canadian operation of Seniors Money ...
    2007-10-17 06:52:00

  • Richer homeowners find reverse mortgages useful

    Biloxi Sun Herald - Reverse mortgages have been a popular tool for cash-strapped retirees, but wealthier folks are finding ways to use them, too. With a mansion worth $21 million, a wealthy retiree near Philadelphia decided the most logical way to access that cash and ...
    2007-10-17 01:47:00

  • ANOTHER FINE MESS (The Slatin Report)

    About a month ago, speaking on a panel before the Association of Foreign Investors in Real Estate (AFIRE), I had a distinctly lonely feeling. At the time, the industry, the press, the politicians, and the markets were in full cry about the "subprime debacle."
    2007-10-17 08:36:38

  • Lender Lead Solutions Announces Expansion of LIBOR Product Offerings (Business Wire via Yahoo! Finance)

    MELVILLE, N.Y.----Lender Lead Solutions, a comprehensive reverse mortgage services company, announced today a LIBOR Flex Margin Advantage product line, expanding its LIBOR offerings.
    2007-10-17 11:05:00

  • Richer homeowners find reverse mortgages useful (Naples Daily News)

    Reverse mortgages have been a popular tool for cash-strapped retirees, but wealthier folks are finding ways to use them, too. With a mansion worth $21 million, a wealthy retiree near Philadelphia decided the most logical way to access that cash and improve his standard of living was to take out a reverse mortgage on the house and invest the money for more income.
    2007-10-17 04:28:43

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