Mortgage and Financial News From 2007-8-29 Page 21
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RBL-issued loans, used to refinance other credits (Nine O'Clock)
Individuals that entered savings-loan contracts with Raiffeisen Housing Bank (RBL) can contract loans for refinancing or covering other mortgage-real-estate loans contracted from other banks, a RBL communiqué informs.
2007-08-28 08:31:56 -
Coast Bank files suit against mortgage company (Bradenton Herald)
After being hit with a barrage of lawsuits from angry borrowers and shareholders, Coast Bank of Florida has fired its own legal salvo against a mortgage company it says failed to purchase more than $20 million in construction loans.
2007-08-28 07:58:23 -
Housing pain
Financial Times - The seizure in the credit markets was triggered by the crisis in subprime mortgages. That in turn spread fear round the world ... But Tuesday’s Case-Shiller index, showing that US house prices fell 3.2 per cent year-on-year in the second quarter ...
2007-08-28 09:11:00 -
Fears of illegal development following Greek forest fires
Financial Times - Mortgage lending jumped 25 per cent in the first five months of this year, according to the central bank. An Athens banker said yesterday: "Demand for first-home mortgages may be starting to slow but the market in second-home loans is more buoyant ...
2007-08-28 06:12:00 -
Wall St falls as banks sell off
MSN MoneyCentral - Citigroup, the largest US bank, dropped 1.3 per cent to to $47.18, Lehman Brothers, the biggest underwriter of US bonds backed by mortgages, lost 2.4 per cent to $56.35 and Bear Stearns, the second-largest bond underwriter, was down 2.8 per cent to ...
2007-08-28 10:37:00 -
Fed members saw economic risk from financial markets at August 7 ...
FXStreet.com - They thought the markets for securities backed by sub-prime and other mortgages would "recover over time" but that credit standards would be tighter. However, it appeared to the FOMC members that people with good credit were not having trouble getting ...
2007-08-29 12:17:00 -
Home prices fall sharply in second quarter; Detroit posts worst ...
Detroit News - NEW YORK -- U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor's ... Since then, lenders have made it more difficult for some people to get mortgages by tightening standards just as foreclosures ...
2007-08-28 07:02:00 -
LandAmerica to Cut 1,100 Jobs as Mortgages Dwindle; Will Buy Back ...
Stockhouse Canada - Aug. 28 (Bloomberg) -- LandAmerica Financial Group Inc., the Richmond, Virginia-based title insurer, said it will eliminate 1,100 jobs in the second half of 2007 to reduce costs as mortgage originations decline. LandAmerica will also buy back 1.5 ...
2007-08-28 10:37:00 -
Your Money: Home-equity loans tougher to get
USA Today - Walters says investors have backed away from second mortgages for the same reason they've abandoned jumbo mortgages (those that exceed $417,000). Because investment mortgage giants Freddie Mac and Fannie Mae won't buy jumbos or second mortgages ...
2007-08-27 12:55:00 -
Minutes from the Federal Reserve meeting
CNN Money - ... with strong balance sheets, although late in the period some evidence pointed to diminishing availability of jumbo mortgages. Broad stock price indexes declined substantially, on net, over the intermeeting period despite generally solid second ...
2007-08-28 11:34:00 -
Market for reverse mortgages could be worth $8B, says N.Z. company
680 News - ... have been $2.3 million or 16.3 cents per unit, an increase of 47.1 per cent or 45.5 per cent per unit over the second quarter of 2006. According to its financial report for 2006, Home Equity Income Trust originated $104.6 million in new mortgages last ...
2007-08-28 09:18:00 -
Scotiabank earnings up 10 percent on retail bank boost
Reuters Canada - ... BNS.TO: Quote ) reported a better-than-expected 10 percent rise in third-quarter earnings on Tuesday as its Canadian retail bank raked in fees from wealth management products and won market share in mortgages and retail deposits. Canada's second ...
2007-08-28 06:26:00 -
UPDATE 4-Retail operations help boost Scotiabank earnings
Reuters - ... topped forecasts with a 10 percent rise in third-quarter earnings on Tuesday as its Canadian retail operation raked in fees from wealth management products and won market share in mortgages and retail deposits. Canada's second-biggest bank by ...
2007-08-28 09:11:00 -
Nationwide completes Portman merger
Guardian Unlimited - Nationwide is now the UK's second largest provider of residential mortgages. The UK's largest building society, Nationwide, today completed its merger with the Portman. The union, between the UK's biggest and third biggest societies, means the end of ...
2007-08-28 11:45:00 -
Home Buyers Forced to Change Tactics
Washington Post - Home values fell in 15 of 20 large metropolitan areas in the second quarter from a year earlier, according to a report yesterday from S&P/Case-Shiller. They fell 7 percent in the Washington area. About 24 percent of mortgages granted in the District ...
2007-08-29 03:09:00