Mortgage and Financial News From 2008-3-13 Page 5

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  • Fed to Lend $200 Billion, Accept Mortgage Securities (Update10)

    Bloomberg - The central bank also said March 7 that it would make $100 billion available through repurchase agreements, where the Fed loans cash in return for assets including mortgage debt.
    2008-03-11 04:02:00

  • NJ latest to target mortgage woes

    Forbes - TRENTON, N.J. (AP) - New Jersey lawmakers are moving to cut mortgage foreclosures by imposing a six-month moratorium on ... The legislation unveiled Tuesday is meant to help homeowners combat problems with subprime loans typically given to those ...
    2008-03-11 03:05:00

  • Sales, dollar plunge; oil soars

    CNBC - The proposals were aimed at correcting a variety of abuses from mortgage brokers who pushed prospective buyers into loans they could not afford, Wall Street investment firms that aggressively packaged the mortgages in securities, and credit rating ...
    2008-03-13 02:27:00

  • Small funds face credit squeeze as prime brokers withdraw financial ...

    Times Online - Like CCC, Peloton was invested in high-quality assets, whose credit quality had not been expected to fall in the wake of the collapse in values of sub-prime mortgage securities – loans extended to borrowers with patchy repayment histories.
    2008-03-13 04:28:00

  • Stocks Surge as Fed Offers a Boost

    Washington Post - Nor did the move by the central bank address the underlying weakness of the economy triggered by widespread exposure to failing subprime mortgage loans, though the initiative did blunt the immediate threat: a run from even the safest high-grade bonds
    2008-03-11 08:13:00

  • The Economy: Beyond 'R' words

    Seattle Post Intelligencer - The root of the current crisis is the mortgage meltdown. So far the policy focus has been on the rescue of banks and individuals from those loans.
    2008-03-13 05:18:00

  • What the U.S. Can Learn From Japan's 'Lost Decade'

    NPR News - It was not until the late 1990s that the Japanese government stepped in and began forcing banks to come clean about bad loans. By contrast, U.S. banks have already swallowed large write-offs for losses on subprime mortgage deals.
    2008-03-13 06:16:00

  • Fed's rescue plan gets praise for its imagination

    USA Today - Reflecting the global nature of the credit crisis, which has spread from mortgage loans to a wide variety of financial products, the Fed also increased existing "swap lines" with the European Central Bank and the Swiss National Bank.
    2008-03-10 05:58:00

  • Credit crisis hits Netherlands

    People's Daily Online - The international credit crisis has struck the Dutch mortgage market with one of the country's biggest foreign mortgage lenders stopping providing loans, Dutch paper the Financieele Dagblad reported Thursday. U.S. mortgage company GMAC, which has a ...
    2008-03-13 06:52:00

  • US financial chiefs urge reform

    News.com.au - Analysts say lax lending standards led some mortgage firms to grant home loans to tens of thousands of borrowers who did not have the means to meet their mortgage payments when interest rates increased.
    2008-03-13 02:41:00

  • Mortgage application fees may rise on appraisal reform

    CNN Money - Since these two companies account for more than 70% of all mortgage loans, virtually all lenders will comply with the guidelines. Inflated home appraisals were a big part of what helped fuel the current housing bubble.
    2008-03-12 01:13:00

  • White House Offers Plan to Ward Off Credit Crises

    New York Times - Paulson said growing market problems were caused by a series of factors, including mortgage brokers who pushed risky loans on homeowners, conflicts of interest at credit-rating agencies, bond underwriters that loosened standards, and financial ...
    2008-03-13 08:25:00

  • Origen Financial Announces Fourth Quarter and Full Year 2007 Results ...

    Earthtimes - Credit tightening and resulting asset repricing has impacted companies like Origen that had no direct exposure to sub-prime mortgage loans. We have been subjected to margin calls and market value adjustments on our credit facilities despite our ...
    2008-03-13 08:03:00

  • Bimini Capital Management Reports Fourth Quarter 2007 Results

    Forbes - Having taken punches squarely on the chin in the first half of the year, we kept fighting our way through the unprecedented turmoil in the secondary market for mortgage loans and the general upheaval in global credit markets.
    2008-03-13 03:02:00

  • Fed plan not a housing, mortgage market cure

    Reuters - The program announced by the Federal Reserve on Tuesday frees up money for mortgage loans and dealer bond buying in the two markets paralyzed by limited funding and fears of bank failures, economists and analysts say.
    2008-03-11 05:07:00

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