Mortgage and Financial News From 2008-2-26 Page 15

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  • Bankrupt lendor stole millions, trustee alleges

    Honolulu Advertiser - Lull told investors that he was making "bridge loans" to real estate customers who could not qualify for conventional mortgage loans, and that the loans eventually would be repaid.
    2008-02-26 08:24:00

  • Correction - Fitch Announces Various Rating Actions on Mortgage ...

    Forbes - ... Fitch is also monitoring the performance of ORI's consumer credit indemnity (CCI) program which is underwritten by Old Republic Insurance Company and consists of first loss coverage to pools of primarily second lien residential mortgage loans.
    2008-02-24 03:57:00

  • Pimco's Gross: Inflation Hurts Treasuries Appeal

    CNBC - William Gross, chief investment officer for Pacific Investment Management Co, said that value is returning to other parts of the U.S. bond market, particularly in highly rated mortgage agency securities and government-guaranteed small business loans.
    2008-02-26 05:46:00

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

    Bloomberg - Spreads on so-called current- coupon agency mortgage securities, whose yields determine interest rates for prime loans below $417,000, have reached the highest since the 1980s, according to UBS AG.
    2008-02-26 09:14:00

  • UPDATE: Sonic Auto, Group 1 Earnings Fall; Tough '08 Seen

    CNN Money - Both companies are struggling with a slowing U.S. economy as consumers, pinched by home mortgage loans, rising gasoline prices and company cutbacks, are putting off vehicle purchases.
    2008-02-26 08:52:00

  • Lenders in South Florida fed mortage frenzy with risky home loans

    Fort Lauderdale Sun-Sentinel - Mortgage industry representatives defend the loans, saying no one could predict that so many borrowers would default on their loans. "People say, 'Oh, subprime,' like they're some disease," said Tom Kelly, a spokesman for retail financial services ...
    2008-02-26 09:49:00

  • Home Prices Down 1.3 Percent in Q4

    Forbes - The OFHEO index is calculated solely using mortgage loans of $417,000 or less that are bought or backed by Fannie Mae or Freddie Mac. That excludes properties bought with some of the riskier types of home loans that went sour last year.
    2008-02-26 08:52:00

  • Who gets the biggest mortgage-interest tax break? Wealthy homeowners.

    CNBC - The interest you pay on your mortgage of up to $1 million and home equity loans of up to $100,000 is almost always tax deductible. But that deduction is only available if you itemize your deductions _ that is, break out your deductible expenses, such ...
    2008-02-26 09:14:00

  • Aid on home loans sought

    Los Angeles Times - The proposal, part of the Foreclosure Prevention Act embraced by leading Democratic lawmakers, would allow judges to ease the terms of mortgage loans during bankruptcy proceedings.
    2008-02-26 07:33:00

  • FDIC report shows weaknesses in American banking industry (Small Business Times)

    The annual report released today by Federal Deposit Insurance Corp. (FDIC) confirmed the gloom of the American banking industry, showing that profits at the banks and thrifts it insures fell to a 16-year low in the fourth quarter of 2007.
    2008-02-26 09:44:35

  • O'Malley Meets With Loan Servicers (CBS 13 Baltimore)

    Governor Martin O'Malley and other Maryland officials are meeting with loan servicers in an attempt to improve customer service.
    2008-02-26 09:45:22

  • Home Prices Plummet, Foreclosures Rise as Housing Slump Deepens (Bloomberg.com)

    Feb. 26 (Bloomberg) -- U.S. home prices plummeted at the end of last year and bank seizures of property almost doubled in January, indicating the housing slump is deepening.
    2008-02-26 09:51:40

  • Commercial real estate stays above subprime fray (International Herald Tribune)

    The outlook for commercial real estate isn't pretty, but it also may not be as ugly as some expect it to be.
    2008-02-26 09:51:59

  • ALL BUSINESS: A tale of two real estates (AP via Yahoo! News)

    Some on Wall Street are betting that commercial real estate will turn out to be the "next subprime" mortgage mess. Not necessarily.
    2008-02-26 10:08:50

  • Expected loan losses drag down U.S. bank earnings (KPLC Lake Charles)

    By John Poirier and Karey Wutkowski WASHINGTON (Reuters) - Anticipating higher loan losses, U.S. banks and thrifts set aside record amounts of money last year, driving down their...
    2008-02-26 10:10:41

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