Mortgage and Financial News From 2007-8-19
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Fitch Comments on U.S. Life Insurance Exposure to Subprime Markets
Forbes - Fitch's review of the general account investment portfolios for U.S. life insurers indicates that direct exposure to problematic subprime and Alt-A residential mortgage collateral is relatively limited in the aggregate and largely concentrated in the ...
2007-08-17 04:02:00 -
We pay on our own for car insurance; why not health care?
Free Lance-Star - If you own or rent a home, and your mortgage company or landlord allows it, you don't have to have homeowners insurance at all. Your house burns down, it's on you. The house never burns down--well, you saved that insurance money. Similarly with life ...
2007-08-19 04:54:00 -
Rules get tighter for mortgage lending
AZCentral.com - Other borrowers could get in with nothing down and without paying private mortgage insurance by using 80/20 or piggyback loans. The 20 percent was typically a home-equity loan that covered the down payment. Lenders also cut back on the income ...
2007-08-17 01:46:00 -
SUBPRIME FALLOUT
Dallas Morning News - Mortgage lenders will look for customers to verify they have "at a bare minimum" two months' worth of mortgage, insurance and tax payments in reserves, Mr. Green said. For a customer looking to take out a "jumbo" mortgage – a loan for more than $417 ...
2007-08-19 03:57:00 -
Piggyback mortgage securities get the chop at Moody's (MENAFN)
Piggyback mortgage securities get the chop at Moody's
2007-08-18 07:23:09 -
Fed urged to protect future mortgage borrowers (MENAFN)
Fed urged to protect future mortgage borrowers
2007-08-18 11:07:29 -
Mortgage pinch causes domino effect of pain (USA Today)
The problems in the mortgage industry are having a domino effect in the real estate market. Increasingly, first-time home buyers are getting shut out of the market, and that hurts move-up buyers. Homeowners are also having more trouble refinancing their escalating adjustable-rate loans, and that is increasing the number of foreclosures and the supply of homes on the market.
2007-08-17 07:37:46 -
Your mortgage, deposits still safe at Countrywide (Sun-Sentinel)
Financial turmoil at Countrywide Financial Corp. , the biggest U.S. mortgage lender, might have many people wondering if their home loans are in trouble. And what about funds deposited in Countrywide's affiliated savings and loan operation, Countrywide Bank?
2007-08-18 07:18:16 -
Better safe than sorry with renter's insurance (WALB Albany)
Albany -- In order to get a mortgage, you have to have homeowner's insurance. But many renter's don't get policies. With hurricane season picking up, it's a good time for renter's to consider changing that. Renters insurance protects all the contents in your apartment including appliances.
2007-08-17 01:46:31 -
N.J. orders mortgage lender to stop taking on loans without funding (BizJournals)
The New Jersey Department of Banking and Insurance Thursday ordered mortgage lender Aegis Wholesale Corp. to stop taking applications and closing on loans without funding.
2007-08-16 06:17:21 -
Mortgage insurer Radian draws on credit line, faces lawsuits (phillyburbs.com)
PHILADELPHIA - Radian Group Inc., one of the nation's largest mortgage insurers, has drawn down half its credit line and faces shareholder lawsuits accusing the company of securities violations.
2007-08-19 03:09:59 -
Flood insurance lapses for some (The Daily Iberian)
Flooding from hurricanes, flash floods and tropical weather systems is a high possibility for Iberia Parish residents. Many residents have aquired flood insurance since Hurricane Rita struck almost two years ago.
2007-08-19 04:49:03 -
Home prices drop for fourth straight quarter
CNN Money - Home sales have fallen in many markets, inventories have stretched to a nearly eight-month supply, and new-home builders have been reporting big losses. Mortgage rates rose from about 6.17 percent at the beginning of April to about 6.67 percent by the ...
2007-08-15 12:55:00 -
Tighter rules on housing finance to battlers
News.com.au - Up to 45 per cent of Australian home loans are sold through mortgage brokers acting for banks, non-bank lenders and others, according to ... Ex bankrupt?' ' pensioner? ' are words in advertising which ought to make them aware that interest rates will ...
2007-08-19 04:11:00 -
Fed's 'symbolic' move helps calm Wall Street
Chicago Tribune - ... to do so if necessary, the Fed opted not to change short-term interest rates, its ... next week unnerve investors anew by disclosing that its heavily leveraged mortgage ... Home > Nation/World
2007-08-18 09:23:00