Mortgage and Financial News From 2007-10-25 Page 8

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  • Bank of America quits wholesale mortgage business (Reuters via Yahoo! News)

    Bank of America Corp on Thursday said it will stop offering home mortgages through brokers by the end of the year, resulting in a loss of 700 jobs, so that it may focus on lending directly to consumers.
    2007-10-25 03:57:24

  • Radian Issues Statement

    MSN MoneyCentral - mortgage and financial services sectors, Radian noted that the company has a strong ... during the third quarter, including the sale of the Sherman interest for ... undue reliance on these forward-looking statements, which are current only as ...
    2007-10-25 03:25:00

  • Fitch Affirms Wachovia Bank Commercial Mortgage Securities Trust ...

    Forbes - Fitch Ratings affirms Wachovia Bank Commercial Mortgage Securities Trust, series 2006-C28, as follows: --$33.3 million ... Interest-only class IO at 'AAA'; --$359.5 million class A-M at 'AAA'; --$278.6 million class A-J at 'AAA'; --$22.5 million ...
    2007-10-25 12:34:00

  • Fitch Rates Wells Fargo's $602MM P-T Ctfs, Series 2007-AR5

    Forbes - Approximately 86.26% of the mortgage loans are interest-only loans, which require only payments of interest until the month following the first adjustment date. The mortgage loans have an aggregate principal balance of approximately $604,977,737 as ...
    2007-10-25 02:42:00

  • Capstead Mortgage Corporation Announces Third Quarter 2007 Results and Deployment of Common Share Offering Proceeds (FinanzNachrichten)

    Capstead Mortgage Corporation ( Nachrichten ) (NYSE:CMO) today reported a loss of $3,148,000 for the quarter ended September 30, 2007 compared to earnings of $5,774,000 for the second quarter of 2007. After considering preferred share dividends, Capstead lost $0.43 per diluted common share for the third quarter of 2007 compared to earnings for the second quarter of 2007 of $0.04 per diluted ...
    2007-10-25 02:04:26

  • New Findings in Preventing Latino Home Foreclosures

    Forbes - ... market players, and community advocates on how to prevent Latino home ... Washington, DC; and Northern Virginia, areas with both high rates of foreclosure ... I am committed to addressing the mortgage crisis, and I commend CHCI's HOGAR ...
    2007-10-25 09:06:00

  • US joint congressional committee estimates 2 mln home foreclosures by ...

    CNBC - WASHINGTON (Thomson Financial) - Roughly 2 mln home foreclosures could occur between 2007 and 2009, destroying nearly 71 bln usd of housing wealth in the US, if problems in the subprime mortgage ... unless action is taken, subprime foreclosure rates are ...
    2007-10-25 09:35:00

  • Genworth Financial Reports Third Quarter Net Operating Earnings ...

    Forbes - ... instability, foreign exchange rate fluctuations, unexpected changes in unemployment rates, deterioration in economic conditions or decline in home price appreciation, unexpected increases in mortgage insurance default rates or ...
    2007-10-25 01:09:00

  • Mortgage crisis taking a toll on pets

    WIS-TV - NATIONAL (NBC) - The impact of high interest rates and home foreclosures is making its way into animal shelters. Officials at the Escondido Humane Society in California say they are receiving 20 to 30 calls a day from people who need to give up their ...
    2007-10-25 10:53:00

  • Sony swings to profit, raises forecast

    Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics ... really know what will happen with the U.S. market and currency rates. There are still some big uncertainties here.” Sony said it expected turmoil in the U.S. subprime mortgage ...
    2007-10-25 08:16:00

  • Slight Boost Reported For New Home Sales

    CBS News - AP) New home sales posted an unexpected increase in September. Analysts, however ... summer when lenders started tightening loan conditions in the face of rising mortgage ... go into foreclosure over the next 18 months as initially low introductory rates ...
    2007-10-25 02:14:00

  • Brazil Billionaire Runs $1.7 Trillion in UBS Assets (Update1)

    Bloomberg - That loss came from one of the bank's hedge funds, which had invested in U.S. subprime mortgage securities. By the ... crisis led investors to shun riskier emerging-market assets and the Brazilian central bank had to raise interest rates to ...
    2007-10-25 09:06:00

  • ABX Indexes Plunge Amid Release of Monthly Delinquency Reports

    Bloomberg - Subprime borrowers face limited opportunities to refinance out of adjustable-rate loans because of falling home prices and a collapse of the mortgage market amid the highest default rates on record. Third-quarter issuance of securities ...
    2007-10-25 12:34:00

  • MBIA Plunges After Stock Buyback Halted, First Loss (Update3)

    Bloomberg - ... company reported its first loss, ended a share buyback and failed to quell speculation it will write down more of its mortgage ... bonds, loans, currencies and commodities, or linked to specific events such as changes in the weather or interest rates ...
    2007-10-25 01:45:00

  • Mortgage, Terror Woes Figure Big Into Stress

    ABC News - Americans may be significantly more stressed than they were five years ago, and concerns over home mortgage rates could be a big part of the problem. The American Psychological Association's (APA) 2007 Stress in America poll, released Wednesday ...
    2007-10-25 01:52:00

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