Mortgage and Financial News From 2008-3-8 Page 01

Previous Day: 2008-03-07

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• US mortgage lender and county, European bank all point to new weakness ...

  International Herald Tribune - Thornburg Mortgage Inc. and a bond fund run by an affiliate of the Carlyle Group said lenders are demanding more money on finance lines. The requests, called margin calls, have yet to be fully met by each company.
  2008-03-06 07:26:00

• Carlyle unit says could see liquidity depleted

  Reuters - Carlyle added it had been notified that some of its Residential Mortgage-Backed Securities had been liquidated by lenders who had previously issued default notices to the company.
  2008-03-06 10:39:00

• Cities fight glut of vacant houses

  Baltimore Sun - Weary of lenders and wholesalers who don't show up to answer to housing code violations like unsecured doors and windows on ... economy before foreclosures began spiraling nationally, are moving to cut the number of houses left vacant when the mortgage ...
  2008-03-08 09:11:00

• Credit woes drive HK stocks to worst wk in six years

  Forbes - Private equity groups dealt with margin calls and mortgage lenders struggled with their financing. Sinopec, the day's worst blue-chip performer, skidded 7.7 percent to HK$7.56. Goldman Sachs (nyse: GS - news - people ) downgraded the ...
  2008-03-07 01:45:00

• Credit market woes hit stocks

  CNN Money - A report showing foreclosures hit an all-time high in the last 3 months of 2007 added to the day's jitters, sparking selling in government mortgage lenders Fannie Mae ( FNM ) and Freddie Mac ( FRE , Fortune 500
  2008-03-05 03:59:00

• Emotionally, there is no way to prepare for auction

  Middletown Journal - Mortgage lenders usually bid up to what they are owed on a property, Allen said. "Sometimes a person will bid $5 over the bank and win the property," he said.
  2008-03-08 08:13:00

• Surplus of fixes for mortgage crisis can't make up for shortage of ...

  CNBC - Fed Chairman Ben Bernanke this week urged banks and other mortgage lenders to trim the amounts of mortgages for distressed homeowners. Yet he acknowledged that even with some relief efforts already undertaken by the government and the banking ...
  2008-03-05 03:59:00

• Agency increases cap for mortgage backing

  Houston Chronicle - Finding a mortgage became a little easier Thursday after the Federal Housing Administration raised the cap on what it will back. The government agency, which allows lenders to make loans to people who otherwise couldn't afford to buy homes, raised ...
  2008-03-05 03:59:00

• Mortgage insurers take cue from retrenching lenders

  Chicago Tribune - WASHINGTON - First it was the lenders. Now it's the mortgage insurers: Product lines are being yanked off the real estate financing shelf, potentially squeezing large numbers of buyers and refinancers out of the marketplace. On Feb. 6, the oldest and ...
  2008-03-07 02:35:00

• Darling in 'cheaper mortgages plan'

  Western Telegraph - ... expensive than shorter-term deals, with rates of just below 6% typical, while the best deal available is 5.5%, compared with a market leading rate of 5.2% for a two-year fixed rate mortgage. Mr Darling is expected to outline moves to enable lenders to ...
  2008-03-08 10:15:00

• Many homeowners still trapped in Ameriquest loans

  Atlanta Journal Constitution - Ameriquest and its sister company, wholesale lender Argent Mortgage, together became the largest subprime mortgage lenders in the nation. Arnall had previously faced accusations that his company was mistreating consumers.
  2008-03-08 05:36:00

• Home-equity lenders less likely to OK refinancing

  Charleston Gazette - Approvals from home-equity lenders used to be routine, particularly if the borrower wasn't increasing the size of the mortgage as part of the transaction.
  2008-03-08 08:49:00

• No mercy shown to struggling homeowners

  News.com.au - HOMEOWNERS who fall behind in mortgage payments and face repossession are being charged up to $244 a day interest by lenders. Some non-bank lenders are threatening legal action when owners are as little as $600 in arrears, or just two to three months ...
  2008-03-08 05:00:00

• How government makes things worse

  Boston Globe - Mortgage lenders have been bankrupted, thousands of subprime homeowners have been foreclosed on, and countless would-be borrowers can no longer get credit.
  2008-03-08 09:25:00

• Countrywide Is Probed by FBI for Possible Fraud, Person Says

  Bloomberg - Countrywide is among at least 14 companies that the FBI is checking for possible accounting violations related to the subprime lending crisis, including mortgage lenders, housing developers and Wall Street firms that package loans as securities.
  2008-03-08 09:25:00

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