Mortgage and Financial News From 2007-10-8 Page 4

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  • Big Dig house on the market for $2.1M

    Boston Business Journal - The house that the Big Dig built is up for sale. Located atop a hill in Lexington, Mass., the 4,000-square-foot home is being sold by William Raveis Real Estate, Mortgage & Insurance and is listed for $2.1 million. The house was built four years ago ...
    2007-10-08 12:11:00

  • Ellington Freezes Withdrawals From Two Mortgage Funds (Update3)

    Bloomberg - Derivatives linked to subprime-mortgage bonds offer payments if the securities aren't paid off as expected, in return for regular insurance-like premiums. To contact the reporters on this story: Jody Shenn in New York at jshenn ...
    2007-10-08 05:54:00

  • Stock Upgrades, Downgrades From TheStreet.com Ratings

    Street.Com - MBIA ( MBI - Cramer's Take - Stockpickr ), a mortgage insurance company, has been upgraded to buy. The company has seen robust revenue growth, expanding profit margins, an increase in stock price during the past year, notable return on equity and ...
    2007-10-08 12:54:00

  • Market Street Mortgage lays off 182 (Business Journal of Tampa Bay)

    It could be the sign for the end for Market Street Mortgage Corp. as its Clearwater facility intends to lay off 182 employees. It is unclear how many employees were working there, but the company had nearly 600 employees overall.
    2007-10-08 12:13:11

  • Homeowner finds mortgage carousel ride scary (The Palm Beach Post)

    The worst housing slump in 16 years has produced a subprime mortgage meltdown, widespread layoffs and record foreclosures.
    2007-10-08 06:54:29

  • Societe Generale Insurance to set up operations in Russia (Insurance Business Review)

    Russias banking regulator has granted Sogecap the necessary approval to finalize the takeover of Soyuznik, a company specialized in means of payment insurance, and to set up a life insurance company, Sogecap Life Insurance.
    2007-10-08 06:43:14

  • Ellington Freezes Withdrawals From Two Mortgage Funds (Update2) (Bloomberg.com)

    Oct. 8 (Bloomberg) -- Ellington Management Group LLC, the Old Greenwich, Connecticut-based hedge-fund firm that focuses on mortgage securities, suspended client redemptions from two funds because it's too hard to value their assets.
    2007-10-08 04:04:26

  • Clinton Turns to Economic Issues

    Wall Street Journal - Clinton endorsed several ideas pending in Congress, temporarily raising the caps on Fannie Mae's and Freddie Mac's portfolios so they can provide more mortgage capital to lenders. She also called for allowing state housing-finance agencies to use ...
    2007-10-08 06:37:00

  • WE ARE IN A BAD FIX

    OpEdNews.com - US mortgage lenders, voracious as ever for "more," had extended loans to the default-income group, who, were in turn hit by bad economic management. Credit card issuers followed suit to bloat consumer fantasies, and banks tightened the noose with ...
    2007-10-08 02:41:00

  • Lenox Financial Mortgage

    WBBM - This is typically enough money that we can pay your closing costs and still have money left over for our company as well! After refinancing with most lenders you will roll thousands of dollars in closing costs into your mortgage that will take you ...
    2007-10-08 05:11:00

  • Silver lining for buy-to-let owners

    Daily Telegraph - Traditionally, buy-to-let mortgage lenders required monthly rental incomes to total at least 130 per cent of mortgage payments. So if your payments were £800 a month, you needed to collect at least £1,040 rent. Now rental cover can be as low as 115 ...
    2007-10-08 11:06:00

  • Foreclosure Nation

    CBS News - What I witnessed on the steps of the County Courthouse in Stockton, California struck me as strange and sad and worrying…particularly if you think the worst is over in America’s mortgage meltdown. An agent for lenders stood on the courthouse ...
    2007-10-08 02:34:00

  • MFAA introduces hardship assistance

    Nine MSN - The Mortgage and Finance Association of Australia (MFAA) has introduced measures to encourage non-bank lenders, mortgage managers and brokers to assist borrowers in financial difficulty. Under the new provisions, MFAA members can consider varying the ...
    2007-10-08 05:19:00

  • The American Dream in Reverse

    New York Times - Federal regulators and Treasury officials are urging mortgage lenders and mortgage servicers to do their utmost to modify loan terms for at-risk borrowers, but saying “please” hasn’t worked. To be effective, modifications must reduce a loan’s ...
    2007-10-08 04:00:00

  • Lenders First Choice Launches LFC WebClose(SM), Allowing Borrowers to Securely Close Loans Over the Internet (Business Wire via Yahoo! Finance)

    SIMI VALLEY, Calif.----Lenders First Choice , a national provider of mortgage closing solutions including title insurance and settlement services, has launched LFC WebClose, an interactive closing solution that allows borrowers to close their loans online, from anywhere Internet access is available.
    2007-10-08 06:00:00

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