Mortgage and Financial News From 2007-9-30 Page 9
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BSP may ease policy rates soon – officials
ABS-CBN - ... ng Pilipinas (BSP) Governor Amando Tetangco Jr. said over the weekend that the decision of the US Federal Reserve Board to cut its primary policy rates was the critical signal that the market needed in the wake of the crisis in the US home mortgage ...
2007-09-30 11:23:00 -
U.S. new-homes sales tumble in August
Seattle Times - WASHINGTON — New-homes sales tumbled in August to the lowest level in seven years ... The hope is that lower rates will induce more spending and investment and thus ... Hedge funds and other investors in subprime-related mortgage securities got clobbered
2007-09-26 05:54:00 -
Mortgages cause sleepless nights
Stuff - The survey of social attitudes asked those with home loans if they were concerned that rising mortgage interest rates might make it ... to the Real Estate Institute of New Zealand's latest figures, residential sales volumes have dropped to the lowest ...
2007-09-30 08:53:00 -
Rates on 30-year mortgages rise for second consecutive week after ...
Columbus Telegram - ... for adjustable-rate loans continues to decline, hitting its lowest level since March 2003, according to the Mortgage Bankers Association. Borrowers facing the prospect of having their initial low “teaser” ARM loans reset to sharply higher rates ...
2007-09-30 08:10:00 -
ING wins from online bank failure
BBC Business - NetBank is the latest casualty of the US home loans slump, hurting banks. Georgia-based NetBank suffered severe losses in 2006 primarily from mortgage defaults, a lack of proper risk controls and fewer home loan originations, according to a ...
2007-09-30 07:48:00 -
Serving the communities of:
Livingston Parish News - As bad mortgage loans in the housing sector have threatened to have a domino impact on the U.S. economy, the Federal Reserve Board has stepped in to head off a recession by lowering interest rates. It's a familiar move and some would say the Fed was ...
2007-09-30 01:15:00 -
Scam Alert: Foreclosure help is con in disguise
Modesto Bee - HOW IT WORKS: As mortgage loans reset and refinancing options dwindle, more home- owners fear they're on the verge of foreclosure. But not all deals to rescue troubled home- owners are legitimate. Housing experts warn they're seeing a proliferation ...
2007-09-30 02:40:00 -
Mortgage defaults put NetBank in receivership
MSNBC - EverBank in July completed its acquisition of NetBank's mortgage servicing business, and the FDIC said Friday that EverBank will purchase about $700 million in mortgage loans. "Customers of NetBank should have confidence and security knowing that they ...
2007-09-27 05:53:00 -
Explosion in high-priced student loans sow seeds of trouble for U.S ...
CNBC - ... in Rocky Hill, Conn., faces paying $1,600 a month on his student loan on top of a $2,300 mortgage payment and $1,500 on the loan he took out to start his practice. His credit record remains solid but he owes more than $300,000 in student loans as he ...
2007-09-30 10:40:00 -
Fed rate cut is becoming 'Bernanke conundrum'
San Diego Union-Tribune - When the Federal Reserve lowered interest rates this month, critics complained that Fed Chairman Ben Bernanke was bailing out homeowners who should never have taken out all those wacky no-down-payment, no-documentation, no-fixed-rate mortgage loans ...
2007-09-30 06:44:00 -
En bloc sellers, foreigners drive up home loans (Straits Times)
HOME loans shot up in August at the fastest pace in over two years as more en bloc sellers bought existing properties and foreigners opted to buy instead of rent.
2007-09-30 06:53:15 -
Taking Stock: Third quarter unkind to many local firms
Columbian - The tumult during the quarter included the continued stagnation of the housing market, the Federal Reserve cutting the prime interest rate more than expected and the U.S. dollar's continued devaluation against other currencies. Hilton Inc. weathered ...
2007-09-29 10:41:00 -
RBA to meet as dollar thunders
The Australian - Economists are saying the Reserve Bank could have contemplated an interest rate rise this week, had it not been for the credit ... strong credit numbers on Friday, suggest the Australian economy has suffered no ill-effects from the global sub-prime ...
2007-09-30 06:58:00 -
Microcredit movement tackling poverty one tiny loan at a time
San Francisco Gate - ... for those with no collateral, microloans are an alternative to banks, where interest ... Melissa Faith Klar, a San Francisco art dealer, is a prime example. She has raised ... Graham, who also works pro bono, said the repayment rate worldwide is very high ...
2007-09-30 05:32:00 -
Rates rise may just delay recession
News.com.au - DID the US Federal Reserve head Ben Bernanke "blink" when he slashed interest rates a ... just servicing the loans, far less ever repaying them - the so-called "sub-prime ... Its statement on the rate cut has to be about the most insipid and unconvincing ...
2007-09-30 01:07:00