Mortgage and Financial News From 2007-11-16 Page 18

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• UnitedHealth Leads $14.7 Billion in U.S. Bond Sales (Update1)

  Bloomberg - Nov. 16 (Bloomberg) -- UnitedHealth Group Inc., the largest U.S. provider of medical insurance, and Citigroup Inc. led ... CDOs repackage assets such as mortgage bonds or buyout loans into new securities with varying degrees of risk. ...
  2007-11-16 06:43:00

• County home prices, sales fall in October

  Santa Rosa Press Democrat - Buyers who can’t make a 20 percent down payment likely must buy mortgage insurance. Fewer lenders are offering loans to finance part of the down payment to avoid mortgage insurance. Monthly payments fall Still, interest rates are favorable. Combined ...
  2007-11-16 05:53:00

• More banks post big mortgage losses

  Miami Herald - Checking to see which bank is revealing billion-dollar losses in its portfolio has become something of a daily routine on Wall Street. On Thursday, traders fretted about Barclays' multibillion-dollar writedown over their morning coffee. The British ...
  2007-11-16 04:41:00

• Fortis Declines as Dexia Provokes Subprime Concern (Update1)

  Bloomberg - Fortis earlier this month reported an unexpected decline in third-quarter profit on an increase in borrowing costs following the rise in U.S. subprime mortgage defaults and because of a gain in U.K. flood-insurance claims. The company, based in ...
  2007-11-16 05:45:00

• Losses May Wipe $2 Trillion of Lending, Goldman Says (Update2)

  Bloomberg - Exclusive Worldwide Regions Markets Economy Politics Industries Consumer Energy Finance Health Care Insurance Real Estate Technology ... The likely mortgage credit losses pose a significantly bigger macroeconomic risk than generally recognized,'' Hatzius wrote ...
  2007-11-16 04:12:00

• Goldman Sees Subprime Cutting $2 Trillion in Lending (Update4)

  Bloomberg - Exclusive Worldwide Regions Markets Economy Politics Industries Consumer Energy Finance Health Care Insurance Real Estate Technology ... The likely mortgage credit losses pose a significantly bigger macroeconomic risk than generally recognized,'' Hatzius wrote ...
  2007-11-16 05:53:00

• Nurses' strike drags on in Appalachia (AP via Yahoo! News)

  Jerry Blevins has stood for weeks on a picket line with his fellow nurses, thinking about his mortgage, his tearful wife, his four children.
  2007-11-16 06:27:07

• Man indicted in mortgage fraud probe

  Philadelphia Enquirer - Robin S. Ligon faces 27 counts of mail and wire fraud in what a federal indictment describes as a complicated scheme to defraud mortgage lenders with falsified documents that inflated both borrower incomes and the value of some local properties ...
  2007-11-15 11:55:00

• Bond Prices Slip as Stock Futures Signal Rebound

  CNBC - Worries about mortgage lenders' exposure to the deteriorating housing market bolstered the bid for Treasuries Thursday. Early on Friday, S&P 500 stock index futures pointed to a higher opening, as credit market concerns were offset by expectations ...
  2007-11-16 04:55:00

• How They Voted: Mortgage Lender Bill

  Guardian Unlimited - The 291-127 roll call Thursday by which the House passed a bill that would make mortgage lenders responsible for discovering whether borrowers can repay and fine them for steering people toward risky subprime loans. A ``yes'' vote is a vote to pass ...
  2007-11-15 03:55:00

• Do-it-yourself craze breaks venerable home magazine

  Chicago Tribune - Such passivity might have been dreadfully gauche in the era of house flipping and drive-though mortgage lenders. But as the market steadily slows to the pace of a three-toed sloth, we would do well to remember the lesson that House & Garden ...
  2007-11-16 03:36:00

• House price growth to hit zero in 2008

  MSN UK News - Lower buy-to-let demand is also likely to take the steam out of the market. Nationwide's forecast is similar to that of the Council of Mortgage Lenders which is predicting house price inflation will slow to 1 percent next year. (Reporting by Christina ...
  2007-11-16 06:35:00

• Detroit's woes augur ill for US

  BBC News - The number of homes in the city "foreclosed" - or repossessed by mortgage lenders - is among the highest in the country. The city's charities are getting busier, a sign of economic distress. At Gleaners Community Food Bank, a charity which provides ...
  2007-11-16 03:29:00

• House passes bill to get tougher on subprime mortgage lenders

  NewsWatch 50 - CAPITOL HILL (AP) - With the ongoing credit crisis, Congress is hoping to get tough with mortgage lenders to prevent more foreclosures from taking place. The House has voted to force lenders to get licenses, and make them responsible for determining ...
  2007-11-16 02:11:00

• Schumer bill targets mortgages' fine print

  Rochester Democrat and Chronicle - Schumer, D-N.Y., announced Thursday that he had introduced a bill to require mortgage lenders to provide a single page in readable type showing the interest rate, the monthly payment, the dates when the interest rate can change and what the rate and ...
  2007-11-16 01:35:00

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