Mortgage and Financial News From 2007-10-31 Page 12

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  • Fed cuts rates to 4.5% (CNN Money)

    The Federal Reserve lowered the target for a critical short-term interest rate by a quarter of a point Wednesday, citing continued concerns about weakness in the housing market.
    2007-10-31 11:26:21

  • Siren song of slots is only too familiar

    Baltimore Sun - The slots debate reminds me of the way many people wanted to get lower mortgage payments using variable-rate and interest-only loans ("Slots referendum call renews debate," Oct. 28). They liked the idea of more money in their pockets. Did they ...
    2007-10-31 04:41:00

  • S.D. has fewer risky home loans

    Rapid City Journal - SIOUX FALLS -- South Dakota and North Dakota have the lowest rate of subprime home loans in the nation, according to the Mortgage Bankers Association's National Delinquency Survey. H.S. Football: Cavs corral Wildcats (116) H.S. Football: Cavs bust ...
    2007-10-31 09:27:00

  • 'Money Market Funds Hold Billions in Subprime Debt' - Bloomberg ...

    Forbes - Indeed, "Unbeknownst to most investors, some of the largest money market funds are putting their cash into one of the riskiest debt investments in the world; collateralized debt obligations backed by subprime mortgage loans," according to Bloomberg ...
    2007-10-31 04:05:00

  • What will tax relief do for real estate?

    Miami Herald - Villamil adds that the economic slowdown and credit crunch spurred by problems with subprime mortgage loans have created ''a perfect storm'' for residential real estate. ''Portability will help on the margins,'' he says, ``but I think it will be minor
    2007-10-31 05:31:00

  • Fed Rate Cut Could Enliven Feeble Economy

    NPR News - Subprime mortgage loans are issued to those with poor credit. But that only proved to ensnare consumers in a web debt. Most of them were given adjustable-rate loans to mortgage home that were too costly. And once the loans began to adjust upward ...
    2007-10-31 09:27:00

  • Japan's leading securities brokerage firms reported lower Q2 revenues ...

    Forbes - S&P said due to the yen's appreciation, stagnant stock market, negative effects of the meltdown of US subprime mortgage loans, and limitations in hedging opportunities, trading revenues decreased across all three securities brokerages as a result of ...
    2007-10-31 04:48:00

  • Rising Prices Widen Gap Between Rich and Poor

    Der Spiegel - Existing loans, such as mortgage loans, become cheaper relative to income. Besides, high earners can shift their assets to inflation-proof investments like gold or other precious metals. The public continues to welcome low interest rates. Haven't they ...
    2007-10-31 09:20:00

  • JPMorgan Chase Mortgage Volume Increases

    Forbes - JPMorgan Chase attributed the increase in mortgage origination volume to its ability to rely on in-house cash to fund loans. Typically mortgage lenders pool mortgages together and sell them to investors in the secondary markets to replenish their cash ...
    2007-10-31 08:23:00

  • Irwin Financial 3rd-quarter loss widens on mortgage market and rising ...

    CNBC - COLUMBUS, Ind. - Small business and home equity lender Irwin Financial Corp. said Wednesday its third-quarter losses widened due to a tightening secondary mortgage market, declining origination volume and rising provisions for bad loans. Irwin ...
    2007-10-31 06:57:00

  • Fitch Upgrades Bank of America's Commercial Mortgage Servicer Ratings

    Forbes - The primary servicer rating upgrade is based on B of A's demonstrated ability to effectively service mortgage loans in commercial mortgage-backed securities (CMBS) transactions while substantially growing its servicing portfolio. The upgrade also ...
    2007-10-31 09:42:00

  • JPMorgan Chase mortgage volume increases (FinanzNachrichten)

    NEW YORK (AP) - Amid a weakening housing market, JPMorgan ( Nachrichten / Aktienkurs ) Chase&Co. said Wednesday its third-quarter mortgage and home equity origination volume increased 35 percent.
    2007-10-31 05:52:05

  • Irwin Financial 3Q Loss Grows (AP via Yahoo! Finance)

    Small business and home equity lender Irwin Financial Corp. said Wednesday its third-quarter losses widened due to a tightening secondary mortgage market, declining origination volume and rising provisions for bad loans.
    2007-10-31 06:52:47

  • JPMorgan Chase Mortgage Volume Increases (AP via Yahoo! Finance)

    Amid a weakening housing market, JPMorgan Chase & Co. said Wednesday its third-quarter mortgage origination volume increased 35 percent.
    2007-10-31 08:22:53

  • Mortgage Inflation: How Bad Is Bad? (The Motley Fool)

    When adjustable-rate loans adjust upward, prepare for a shock.
    2007-10-31 09:38:04

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