Mortgage and Financial News From 2007-11-13 Page 7

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  • Silicon Valley, S.F. home sales forecast better than many parts of ...

    Silicon Valley - ... jobs at a respectable pace" he said, which might soften the landing for home prices there in the face of high foreclosure rates. ... said a combination of pent-up demand and greater availability of conventional mortgage products will help nudge home ...
    2007-11-13 03:14:00

  • Sept. pending home sales rose 0.2 pct: NAR

    Reuters - The association's senior economist Lawrence Yun noted that favorable mortgage interest rates are available. "Contrary to perceptions, conventional mortgages are widely available at favorable interest rates for the bulk of home buyers," he said. Even ...
    2007-11-13 12:37:00

  • Yen May Extend Decline as Stock Gains Spur High-Yield Purchases

    Bloomberg - ... on mortgage-related assets. ``The yen is under pressure again,'' said Robert Fullem, vice president of U.S. corporate currency sales at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. The Bank of Japan ``isn't in a hurry to raise rates ...
    2007-11-13 02:31:00

  • Dream Home or Dream On: Part II (WVLT-TV Knoxville)

    Foreclosures. Rate hikes. Falling values. Are fears of the mortgage meltdown preventing you from trading up, or jumping into, a home of your own, even though East Tennessee has plenty of choices, and decent loan rates?
    2007-11-13 01:45:39

  • Millionaire Factory emerges from first half with bulging net profits

    Times Online - The bank restated that it had no exposure to sub-prime mortgage loans in the United States, no material-problem credit exposures, no exposures to structured investment vehicles and US$300 million (£145 million) holdings of collateralised debt ...
    2007-11-13 02:31:00

  • Mayor Kilpatrick Announces Quicken Loans to Move Headquarters with 4 ...

    Forbes - Mayor Kwame M. Kilpatrick and Dan Gilbert, Chairman of Quicken Loans, the nation's largest online retail mortgage lender, announced today the company will relocate its headquarters to downtown Detroit, bringing 4,000 new economy jobs to the city. "We ...
    2007-11-13 12:01:00

  • What You Need to Qualify for a Mortgage

    Street.Com - Only folks with pristine credit histories could qualify for such loans these days -- "if they could even find one," Gumbinger says. "Most of them are extinct." Instead, lenders are offering more straightforward deals and requiring their borrowers to ...
    2007-11-13 01:20:00

  • City war game that ended in a battle to save Northern Rock

    Guardian Unlimited - By 2006 it was parcelling up £5bn of mortgage loans every three months and selling them through a complex offshore operation it called Granite. In January the bank began lending at breakneck speed. With interest rates at historic lows, everyone was ...
    2007-11-13 06:06:00

  • Moody's cuts 81 Goldman Sachs RMBS classes

    Reuters - NEW YORK, Nov 13 (Reuters) - Moody's Investors Service cut 81 classes of residential mortgage-backed securities deals supported by Alternative A mortgage loans issued by Goldman Sachs from 2006 and late 2005. The collateral backing the issues ...
    2007-11-13 01:41:00

  • Delay for new rules aimed at stopping abusive loans

    Boston Globe - BOSTON -- Attorney General Martha Coakley is delaying new regulations cracking down on the mortgage industry after lenders raised objections. Many of the new rules were scheduled to take effect Thursday. But Coakley is pushing the effective date back ...
    2007-11-13 09:31:00

  • Behind the credit crunch

    Guardian Unlimited - Complex investments such as structured investment vehicles (Sivs) and collateralised debt obligations (CDOs) are at the heart of the credit crisis. Critics say Northern Rock turned itself into a giant Siv as it parcelled up its mortgage loans and ...
    2007-11-13 06:06:00

  • American Home Mortgage Investment Corp. seeks approval to borrow $35M ...

    CNBC - That means the rest of American Home's assets, including mortgage loans available for sale and a savings and loan, American Home Bank of Chicago, will not be pledged as collateral. Ross has made $50 million in Chapter 11 financing available to ...
    2007-11-13 01:13:00

  • Fitch Affirms 65 RMBS Classes from 21 Wells Fargo Mortgage Backed ...

    Forbes - The underlying collateral for Wells Fargo Asset Securities Corp. transactions consists of prime fixed and adjustable-rate mortgage loans secured primarily by one- to four- family residential properties. All of the mortgage loans were generally ...
    2007-11-13 03:29:00

  • Countrywide mortgage production tumbles

    MSNBC - LOS ANGELES - Countrywide Financial Corp. said Tuesday its level of home loan production fell by almost half last month from the same month last year, while the percentage of delinquent loans rose as the mortgage lender continued to grapple with the ...
    2007-11-13 03:57:00

  • Quicken Loans to move HQ to Detroit (UPI)

    Retail home mortgage lending firm Quicken Loans Inc. will move its headquarters and 4,000 workers to downtown Detroit, the company said Tuesday.
    2007-11-13 08:50:54

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