Mortgage and Financial News From 2007-9-17 Page 17

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  • Fannie, Freddie market share may hit 70 pct-Lehman

    Reuters - ... Fannie Mae (FNM.N: Quote , Profile , Research ) and Freddie Mac (FRE.N: Quote , Profile , Research ), the top providers of funding for U.S. residential mortgages, will likely boost their share of the mortgage bond market by 40 percent in the second half ...
    2007-09-17 09:15:00

  • European Bonds Gain on Speculation Credit-Market Rout to Spread

    Bloomberg - Sept. 17 (Bloomberg) -- European government bonds rose for a second day on speculation a squeeze in the credit markets sparked by losses on U.S. subprime mortgages will spread. The European Central Bank last week signaled it will keep supporting ...
    2007-09-17 08:54:00

  • Citigroup Buys ACC Assets, CIT Shuts Unit: Subprime Scorecard

    Bloomberg - Foreclosures set a record in the second quarter and overdue payments on U.S. subprime mortgages rose to the highest level in five years, according to the Mortgage Bankers Association. That's made investors who buy mortgages reluctant to bid, and ...
    2007-09-17 08:54:00

  • National City Takes Another Hit

    Street.Com - Loan sale revenue will include the effects of mark-to-market losses on Alt-A and closed end second mortgages held for sale, as well as losses from 'scratch and dent' sales and higher recourse reserves," the company said in the filing. On the bright ...
    2007-09-17 08:39:00

  • Northern Rock Stock Tumbles Further Amid Run on Bank (Update6)

    Bloomberg - The last time the Bank of England bankrolled a U.K. lender was after the 1973 collapse of Cedar Holdings, a pioneer of second mortgages. `Insolvency Crisis' Alliance & Leicester Plc and Bradford & Bingley Plc, which also depend on ...
    2007-09-17 10:20:00

  • National City projects 3Q loss

    MSN MoneyCentral - The Cleveland-based bank said loan-sale revenue will include the effects of marking down the value of some second mortgages held for sale. The company has had difficulty selling mortgage-backed securities as a result of the turmoil in the credit ...
    2007-09-17 06:16:00

  • Singapore says local financial firms' exposure to risky US mortgages ...

    CNBC - ... local financial institutions do not offer mortgages to subprime customers, but have investments in collateralized debt obligations _ complex bundles of debt repackaged as securities _ 25 percent of which contain U.S. subprime mortgages, Second ...
    2007-09-17 06:38:00

  • Local banks' exposure to US sub-prime market is small: Tharman (Channel NewsAsia)

    SINGAPORE: As the exposure of Singapore banks to the US sub-prime mortgage market came under the spotlight in Parliament on Monday, Second Minister for Finance Tharman Shanmugaratnam assured lawmakers that the local banks' exposure is small, relative to their capital base.
    2007-09-17 07:29:39

  • Tories still a threat to economic stability - Burnham (The Labour Party)

    "David Cameron is talking about financial regulation today, but he is yet to explain how this is compatible with the proposals he published just one month ago to scrap all regulation and protections on mortgages.
    2007-09-17 09:02:20

  • China to raise downpayments for 2nd homes -sources (Reuters via Yahoo! Malaysia News)

    BEIJING, Sept 17 - China will soon raise the downpayment requirement for people buying their second home to 40 percent, in an effort to curb speculation in the red-hot property market, banking and regulatory sources said on Monday.
    2007-09-17 03:14:13

  • At Nasdaq, Obama Delivers Main Street Speech to Wall Street Crowd (The New York Observer)

    The mixed reviews Barack Obama got from his audience this morning may have been just what he was looking for. In midtown to deliver a speech to Wall Street executives at the Nasdaq corporate headquarters, he talked about financial policy from a distinctly consumer point of view, focusing on how to protect people with mortgages and credit card customers and workers affected by years of free ...
    2007-09-17 08:56:44

  • Home buying no easy feat in the valley (Vail Daily)

    EAGLE COUNTY - Lauren Bolton, 26, had never felt so sick to her stomach in her entire life. She had just taken out two mortgages on a Brett Ranch condo that was out of her price range. She had finally gotten a loan, despite not having any loan history, based on credit score.
    2007-09-17 10:30:11

  • Singapore: Singapore Says Local Financial Firms' Exposure To Risky US Mortgages Small, Contained (Sinchew)

    SINGAPORE: Singapore's exposure to U.S. subprime mortgage markets is small and contained, officials said Monday (17 Sept), but warned that a resulting slowdown in major economies will affect the city-state's growth.
    2007-09-17 02:21:56

  • Mortgage banks suffer second day of losses (FT.com via Yahoo! News)

    London equities fell further on Monday, with mortgage banks making fresh losses on worsening fears for the implications of the US subprime debt crisis on funding within the financial system .
    2007-09-17 01:06:49

  • Northern Rock crisis - your questions answered

    ITV - I currently have a Northern Rock mortgage - interest only - and was wondering how it could affect people in my situation if the bank went bust! I am tied in at a rate till the end of 2008 with a penalty if paid up. - If the worst happened and the bank ...
    2007-09-17 05:26:00

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