Mortgage and Financial News From 2008-2-26 Page 11

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• Time to resolve monoline mess

  Financial Times - ... as guaranteeing low-risk securities issued by US municipalities, they also guaranteed structured bonds backed by mortgages ... The second half of its plan – to split in two, with one part taking the municipal bond business and the other the ...
  2008-02-26 11:37:00

• Don't stretch too much for 2nd home

  Detroit Free Press - The first thing to understand is that second-home mortgages carry interest rates that can be about half a percentage point higher than those on primary residences.
  2008-02-24 11:56:00

• TEXT: Kohn's Speech on U.S. Economy and Monetary Policy

  CNBC - ... In the first half of 2007, investors became concerned about the likely performance of many subprime adjustable-rate mortgages ... unit sales of new motor vehicles weakened.  Total industrial production rose just 0.1 percent in January for a second ...
  2008-02-26 10:11:00

• Bernanke Fails to Cut Loan Rates for Most Americans (Update1)

  Bloomberg - ... more than half a percentage point during the past four weeks to 6.04 percent, according to Freddie Mac, the world's second ... About a third of the loans are adjustable-rate mortgages, according to the Federal Housing Finance Board.
  2008-02-26 09:14:00

• Goldman, Lehman May Not Have Dodged Credit Crisis (Update4)

  Bloomberg - Merrill Lynch & Co. analyst Guy Moszkowski today cut his estimate for Goldman's first-quarter earnings for the second time this month, citing growing losses from assets outside residential mortgages.
  2008-02-26 10:11:00

• UPDATE 1-US Q4 home prices drop; 49 states see prices fall

  Reuters - The all transactions decline from the second to third quarter of last year was 0.4 percent. The OFHEO data involves homes whose mortgages are valued at $417,000 or below, as it measures variations in the values of loans that can be financed by ...
  2008-02-26 11:08:00

• U.S. Home Foreclosures Jump 90% as Mortgages Reset (Update5)

  Bloomberg - ... and those unable to meet rising payments on adjustable-rate loans drove foreclosure filings to the highest since August and the second-highest since RealtyTrac started keeping records three years ago. About $460 billion of adjustable mortgages are ...
  2008-02-26 12:56:00

• MBIA unit's "Aaa" rating affirmed by Moody's (Reuters via Yahoo! News)

  Moody's Investors Service on Tuesday ended its immediate threat to cut the top "Aaa" rating of MBIA Inc.'s insurance unit, staving off the prospect of more bank losses and market declines.
  2008-02-26 12:16:39

• Asia Day Ahead: U.S. Stocks Rise; Foreclosures Jump 90% in U.S. (Bloomberg.com)

  Feb. 27 (Bloomberg) -- U.S. stocks rose, capping the biggest three-day advance this year, on International Business Machines Corp.'s $15 billion buyback plan and better-than- forecast earnings at retailers.
  2008-02-26 12:25:59

• Press Briefing by Dana Perino (Centre Daily Times)

  James S. Brady Press Briefing Room
  2008-02-26 01:39:25

• Asia Day Ahead: U.S. Home Foreclosures Jump 90% (Update1) (Bloomberg.com)

  Feb. 27 (Bloomberg) -- U.S. stocks gained for a third day as International Business Machines Corp.'s $15 billion buyback, higher retail earnings and rising commodity prices bolstered confidence profits will hold up even as the economy slows.
  2008-02-26 01:40:59

• Mortgage pain on way

  Ballarat Courier - THE big banks are considering a top-up mortgage rate rise in addition to a Reserve ... that another rate increase could not be ruled out given the difference in interest ... That only added to the pressures being faced by the banks, which turn to the ...
  2008-02-24 11:54:00

• FEATURE-Ohio on front line in U.S. housing meltdown

  Forbes - Local officials said stricter state and federal regulation of mortgage lenders could have prevented mass foreclosures in ... Federal Savings, a unit of TFS Financial Corp (nasdaq: TFSL - news - people ), never sold the interest-only or ...
  2008-02-24 11:56:00

• Subprime: Crime of the New Century

  Insurance News Net - The only thing worse than putting your cash into a bank CD earning a pittance is accelerating the pay-off of your mortgage. It's the equivalent of lending your money to the bank at zero interest, strengthening the bank's balance sheet and rewarding ...
  2008-02-26 09:14:00

• Mortgages & homes - Mortgage features

  This is Money - They now need 25% or more - or face an extra 0.2% of interest. The rise only affects new borrowers and wipes out the ... If people sign up with this, they're still getting their mortgage at a lower interest rate than those who signed up for a ...
  2008-02-25 08:25:00

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