Mortgage and Financial News From 2007-10-31 Page 01

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• Housing woes and credit crunch take a toll on minorities, especially ...

  Free Lance-Star - Information released under the 2006 Home Mortgage Disclosure Act and compiled by Compliance Technologies and Genworth Financial shows that 39 percent of the loans made for purchases by minorities were subprime, compared with 18 percent of loans for ...
  2007-10-31 09:23:00

• State agencies investigate Simpson firm

  Daily Advance - He blamed the move on a 34 percent decline in Medicaid payments since last spring, and a sharp downturn in the real estate market that hurt his American Home Mortgage business. AHHS receives its income from Medicaid, the health insurance program for ...
  2007-10-31 08:33:00

• Federal Home Loan Bank of San Francisco Releases September 2007 Cost ...

  Forbes - Changes in interest rates on adjustable rate mortgage loans offered by many financial institutions are tied to changes in the COFI. Although the Federal Home Loan Bank of San Francisco makes a good faith effort to be accurate in the calculation and ...
  2007-10-31 03:18:00

• Japanese Stocks Climb After Federal Reserve Lowers U.S. Rates

  Bloomberg - The U.S. economy unexpectedly expanded at a 3.9 percent annualized pace in the third quarter, easing concern the housing slump and subprime mortgage defaults will drag the nation into recession. Economists had forecast growth to slow to 3.1 percent ...
  2007-10-31 05:49:00

• Political solutions

  The Washington Times - Congress and the Bush administration are currently vying with each other to come up with a solution to the housing crisis, brought on by widespread defaults on home mortgage loans — especially defaults by those who took out risky "subprime" loans. ...
  2007-10-31 09:23:00

• Banks 'beaten for mortgages'

  Daily Telegraph - Moneyfacts said customers would be much better off seeking out small building societies than big-name banks for their home loans. The website's mortgage expert, Julia Harris, said: "It is shocking to see that so few of the top-priced mortgage deals ...
  2007-10-31 08:55:00

• Four of 10 U.S. Shoppers Say They Will Spend Less for Holidays

  Bloomberg - Higher prices for milk and gasoline along with rising mortgage payments and shrinking home values have pinched consumer spending. Shoppers are also uneasy about the safety of imported products after recalls of millions of lead-tainted toys as well as ...
  2007-10-31 09:30:00

• Targeted funds don't fit all investors

  Dallas Morning News - A worker who retires without paying off a home mortgage should be more cautious than one who has no mortgage. A lower-income worker with Social Security benefits, a pension and a mortgage-free home can be more aggressive than a high-income worker who ...
  2007-10-31 09:09:00

• BLESSING FOR FAMILY: Project makes home a gift

  Detroit Free Press - ... Orion home foreclosed. Oakland County Executive L. Brooks Patterson, who is dealing with his own tragedy, wants to ease some of the family's pain. He's mobilizing friends and business owners to give them some help in the form of a new home, mortgage ...
  2007-10-31 06:57:00

• Fewer first-timers

  News.com.au - Fewer first-home buyers entering the market First-home buyer mortgage up 124 per cent since 1991 Fewer Australians own their home outright FEWER first-home buyers are getting into the market, leading to a shortfall in the number of first-home ...
  2007-10-31 10:35:00

• First-home buyers shy from market

  News.com.au - And, while first-home buyers are billed as Australia's most debt-ridden homeowners, the average first-home buyer mortgage was $223,000 in 2005-06 -- less than the average $231,000 borrowed by households moving into subsequent homes. Since 1991, a ...
  2007-10-31 07:50:00

• Lawsuits mount for State Street over investment losses tied to ...

  CNBC - For example, as of the end of July, the Bond Market Fund "had invested more than 27 percent of the portfolio in asset-backed securities comprised of home equity loans" in the mortgage industry's subprime segment, the lawsuit says. In late August ...
  2007-10-31 09:38:00

• Fitch Rates $834.1MM Morgan Stanley Mortgage Loan Trust Mtge P-T Ctfs ...

  Forbes - The mortgage loans were primarily originated or acquired by Morgan Stanley Credit Corporation, American Home Mortgage Corp., and National City Mortgage Co. Fitch's rating definitions and the terms of use of such ratings are available on the agency's ...
  2007-10-31 01:52:00

• No Ombudsman in American Home Bankruptcy

  Forbes - The judge presiding over the bankruptcy of American Home Mortgage Investment Corp. on Wednesday denied requests from some homebuyers to appoint a consumer privacy ombudsman. Paula Rush of Churchville, Md., and two other women who obtained mortgages ...
  2007-10-31 03:40:00

• Man says he robbed bank because he was behind on mortgage (Birmingham News)

  A Remlap man is being held in federal custody on an armed bank robbery charge after confessing that he robbed a Pinson bank Oct. 9 because he was behind on his home mortgage payments.
  2007-10-31 01:38:23

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