Mortgage and Financial News From 2007-10-18 Page 6

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  • Court approves American Home Mortgage refund of loan fees (Newsday)

    A bankruptcy judge has cleared the way for American Home Mortgage Investment Corp. to refund up to $650,000 in application fees and other mortgage costs it collected from more than 1,000 customers who never got their loans because of the company's collapse into bankruptcy.
    2007-10-18 04:44:11

  • Shares of mortgage lenders slip on Thornburg loss, NovaStar sale of ...

    CNBC - NEW YORK - Shares of mortgage lenders sank Wednesday after one home lender reported a steep loss for the third quarter and another's sale of its rights to collect mortgage payments did little to rally confidence in the company's viability. Thornburg ...
    2007-10-17 12:50:00

  • Mortgage Lending Sees Big Drop

    Ananova - Even though High Street lending is soaring, people are cutting back on borrowing through mortgages, said the Council of Mortgage Lenders. While lending typically fell between August and September, the fall was more than double the 5% drop that was ...
    2007-10-18 04:17:00

  • The spending spree goes on as shoppers shrug off property woes

    Times Online - As a result, sales volumes rose by 6.3 per cent over the year to September, the highest rate since 2004. But at the same time, figures from the Council of Mortgage Lenders showed that gross mortgage lending rose by a meagre 2.5 per cent in September ...
    2007-10-18 03:48:00

  • Xceed Arranges New Mortgage Securitization Facility

    CNW Group - About Xceed Xceed is one of a new breed of alternative residential mortgage lenders in Canada. Xceed helps Canadians fulfill their aspirations of home ownership. Its borrowers range from those who have solid credit and income histories, but ...
    2007-10-18 02:51:00

  • Shops shrug off markets' turmoil

    Daily Telegraph - ... economy grew more strongly in the third quarter than the Monetary Policy Committee expected, interest rates look likely to stay on hold until next year." The housing market, however, showed signs of cooling. Data from the Council of Mortgage Lenders ...
    2007-10-18 04:45:00

  • Analyst Actions: Washington Mutual, Citrix Systems, IMS Health

    BusinessWeek - Analyst Paul Miller says he now believes credit trends are eroding much faster in this weakening housing market than he previously anticipated, and will put significant pressure on all mortgage lenders' earnings. Miller says WaMu's third quarter EPS ...
    2007-10-18 01:10:00

  • PMI Falls on Expected Loss From Borrower Defaults (Update3)

    Bloomberg - The cost of paying claims to mortgage lenders is expected to increase fivefold from the same period a year earlier to about $350 million, Walnut Creek, California-based PMI said in a statement today. Stagnant home prices make it harder for banks to ...
    2007-10-18 02:36:00

  • Housing gloom casts a shadow over FTSE

    Times Online - Two days of bad news on housing depressed the FTSE 100’s builders and lenders, among others. Following up Wednesday’s warning from the International Monetary Fund that the UK was heading for a house price slump, the Council of Mortgage Lenders ...
    2007-10-18 02:58:00

  • Mortgages slump by £30bn, says CML

    The Independent - Borrowing for home loans slumped 12 per cent in September, with members of the Council of Mortgage Lenders making advances worth £30bn less than in August. The CML said yesterday that while lending last month was up 2.5 per cent on September 2006 ...
    2007-10-18 03:55:00

  • Mortgage snub rate leaps 60% (Financial Times)

    The number of borrowers rejected by mortgage lenders has leapt in the past six months as it has become more difficult for financially insecure house buyers to borrow.
    2007-10-18 02:55:29

  • Darling pleads for mortgage lenders to show caution (Edinburgh Evening News)

    CHANCELLOR Alistair Darling today rapped irresponsible mortgage lenders for fuelling an "unsustainable" boom in house prices.
    2007-10-18 04:23:38

  • Brazil's real gains to 7-yr high, stocks end up

    Reuters - Last: SAO PAULO, Oct 18 (Reuters) - Brazil's currency rose to a seven-year high and stocks edged higher on Thursday a day after the central bank left the local benchmark interest rate unchanged, enhancing the allure of local debt to foreigners. The ...
    2007-10-18 01:39:00

  • Dollar Poised for Second Weekly Drop Versus Euro on Fed Outlook

    Bloomberg - Interest-rate futures traded on the Chicago Board of Trade show a 70 percent chance the Fed will lower its target rate for overnight loans between banks a quarter-percentage point to 4.5 percent this month, following a half-point cut on Sept. 18. The ...
    2007-10-18 05:00:00

  • Astoria Financial expects better profit margin after Fed rate cut

    CNBC - NEW YORK - Astoria Financial Corp. said Thursday the Federal Reserve's decision to cut its target for interest rates will bolster the bank's profit margin. Astoria Financial, which operates 86 branches in New York and Long Island, reported its profit ...
    2007-10-18 06:15:00

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