Mortgage and Financial News From 2007-11-16 Page 6

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  • Senior Lending Network Spokesperson Robert Wagner Speaks at NRMLA ...

    Forbes - Wagner's presentation entitled, "Lessons Learned from my Promotion of Reverse Mortgages," was held on Wednesday, November 14. Wagner is the spokesperson for Lender Lead Solutions' national consumer education campaign, Senior Lending Network. Wagner ...
    2007-11-16 05:53:00

  • Union files proposals with Lennar, TOUSA

    South Florida Business Journal - The first, filed with financial service and mortgage holding companies including Washington Mutual and the Bear Stearns Cos. , would require disclosure of the types of mortgages bought and sold and their value. The second would limit and disclose ...
    2007-11-16 12:19:00

  • Solano home sales dip 51 percent

    MSN MoneyCentral - Solano's 51.4 percent decline to 309 new and resale houses sold from 636 in October 2006 was the second-worst in the nine ... Home purchases financed with mortgages of more than $417,000, known as jumbo loans, dropped in half, DataQuick said. Homes ...
    2007-11-16 01:16:00

  • Man Charged In Pittsburgh-Area Mortgage Scheme

    Pittsburgh Channel - He is also accused of "unlicensed second mortgage lending." According to a civil suit, Platts would assign himself mortgages without seller consent or a license, which cost victims more than $1 million. Platts is also accused of filing unfounded legal ...
    2007-11-16 01:31:00

  • U.S. IPOs Falter as RWE, NTK Holdings Delay Offerings (Update1)

    Bloomberg - RWE, Germany's second-biggest utility, postponed raising as much as $1.5 billion in a share sale by Voorhees, New Jersey ... Financial shares have been battered by losses on securities tied to mortgages made to homeowners with poor credit histories ...
    2007-11-16 01:59:00

  • French Stocks Slip; Dexia, Credit Agricole Fall; L'Oreal Gains

    Bloomberg - Concerns that losses related to subprime mortgages in the U.S. will spread sent banking stocks lower. Credit Agricole shares slipped for a second day, losing 52 cents, or 2.2 percent, to 23.27 euros. The stock was cut to ``neutral'' from ...
    2007-11-16 09:56:00

  • Fannie Mae's Fall Speeds Up Crazy Train

    Street.Com - Second, we need Fannie Mae to step up the buying of mortgages out there to provide more liquidity. If there are regulatory issues, though, the regulators aren't going to let that happen. The Fortune.com story on Fannie's accounting changes could ...
    2007-11-16 11:15:00

  • Huntington Bancshares Taking $300M Charge

    Street.Com - The company attributed its problems to the deteriorating real estate and mortgage market, as well as the increase in delinquencies involving mortgages originated in 2005 and 2006, particularly for second-lien, or home equity loans. Franklin Credit ...
    2007-11-16 02:35:00

  • ARM Borrowers Keep Moving to Fixed-Rate Loans

    Street.Com - Of borrowers refinancing out of 15-year fixed-rate mortgages, 58% switched to 30-year fixed rate mortgages. That's up from 53% in the second quarter and is the highest rate since Freddie began tracking this data in 2002. Conversely, only 5% of ...
    2007-11-16 11:22:00

  • Fannie Under Fire Over Accounting Change

    Salon - Shares of Fannie, the largest U.S. buyer and backer of home mortgages, tanked for the second day in a row on Friday, even as executives tried to assuage skeptical Wall Street analysts in a conference call. The stock, which fell $2.35, or 5.5 percent ...
    2007-11-16 02:49:00

  • Fannie Mae Declines on Concern About Credit Losses (Update4)

    Bloomberg - The companies profit by holding mortgages and mortgage bonds as investments and by charging a fee to guarantee and package loans as securities. They see losses when defaults and foreclosures rise. Third-Quarter Loss The ...
    2007-11-16 02:21:00

  • Attorney General files suit to stop realty company

    Pittsburgh Post-Gazette - The Pennsylvania Attorney General today accused a North Hills real estate company and its president of a massive scam that accumulated nearly $3 million in fraudulent legal filings and second mortgages in Allegheny, Beaver and Butler counties and ...
    2007-11-16 12:41:00

  • State accuses real estate company president of W. Pa. scam

    Philadelphia Inquirer - Corbett accused Platts and his companies of getting more than $2 million in payments from consumers related to real estate sales and of extending or receiving at least 113 second mortgages, valued at more than $1.2 million, though they lacked ...
    2007-11-16 03:39:00

  • Bankinter Shares Surge on Speculation About Takeover (Update1) (Bloomberg.com)

    Nov. 16 (Bloomberg) -- Bankinter SA, the Spanish lender with two-thirds of its loan book in mortgages, added the most in almost eight years in Madrid trading on speculation that it may be the target of a takeover bid.
    2007-11-16 07:43:51

  • Asian Currencies: Peso Weakens on Rate Cut; Rupiah Declines (Bloomberg.com)

    Nov. 17 (Bloomberg) -- The Philippine peso fell to the lowest in more than a week after the central bank lowered borrowing costs for a second straight month, reducing the nation's interest-rate advantage over the Federal Reserve's rate.
    2007-11-16 03:57:54

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