Mortgage and Financial News From 2007-10-23 Page 27
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Reinsurance Group of America Reports Third-Quarter Results
MSN MoneyCentral - ... months excluding funds withheld 6.00% 5.79% Investment portfolio mix Cash and short-term investments 3.71% 2.05% Fixed maturity securities 54.76% 57.77% Mortgage loans ...
2007-10-22 02:03:00 -
Largest lender to redo $16B in loans
USA Today - Countrywide, (CFC) the nation's largest mortgage lender, says its program will help about 82,000 borrowers, mainly those with "subprime" credit. "Changes in the housing market have occurred, and the trends are weakening," David Sambol, Countrywide's ...
2007-10-22 09:48:00 -
Finance-Panel Head Seeks Mortgage-Law Overhaul
Wall Street Journal - Barney Frank (D., Mass.) introduced legislation that would, among other things, prohibit mortgage brokers, bankers and others from steering borrowers toward more-expensive loans in order to receive greater compensation. It would also prohibit ...
2007-10-22 06:57:00 -
Finance Panel's Chairman Seeks Overhaul of Mortgage Regulations
Wall Street Journal - Barney Frank (D., Mass.) introduced legislation that would, among other things, prohibit mortgage brokers, bankers and others from steering borrowers toward more-expensive loans in order to receive greater compensation. It would prohibit prepayment ...
2007-10-22 08:08:00 -
Frank introduces legislation designed to restrict abusive mortgage ...
San Diego Union-Tribune - Frank also said he plans a hearing on efforts by federal regulators to get mortgage service companies to modify loans due to reset at higher rates. “We're trying to get the current (mortgage) holders to let people out from under mortgages they can ...
2007-10-22 04:48:00 -
Bear Stearns, China's Citic agree to invest in each other
Boston Globe - His company has fallen as much as 37 percent this year in New York trading, beset by the collapse of the US subprime mortgage market. Surging defaults on loans to home buyers with poor credit histories pushed two of the firm's hedge funds into ...
2007-10-22 11:36:00 -
Thanh Nien
Thanhnien - Forced to curb loans to stock market speculators, banks in Ho Chi Minh City are now turning to the property market as they compete to offer attractive mortgage incentives to people looking to buy property. Commercial banks have been ordered by the ...
2007-10-22 11:07:00 -
Facing up to bad loans
International Herald Tribune - You don't know anything about the subprime mortgage loans that were sliced, diced and pureed to produce that mortgage-backed security, so you have to trust the seller - and the rating agency - when they assure you that it's an AAA investment. But in ...
2007-10-22 07:58:00 -
New bills restrict mortgage abuse
Detroit News - WASHINGTON -- Responding to chaos in the mortgage industry, U.S. lawmakers soon will consider a range of long-term measures designed to clamp down on abuses and require that lenders make loans that borrowers can afford to repay. The package ...
2007-10-22 10:46:00 -
Criticism rains down on mortgage industry
USA Today - Chetera Miller, a credit counselor for Neighborhood Housing Services of Chicago, has noticed that lenders are becoming more willing to cut deals with delinquent borrowers. She's been able to help eight homeowners restructure their loans over the past ...
2007-10-22 09:13:00 -
Valuing mortgage bonds: Don't ask, don't tell
CNN Money - The sins, he said, extend to prime mortgage loans, commercial real estate, and corporate lending. "The only difference between these areas and subprime residential is that we haven't seen the losses yet," says Einhorn. That makes him marvel at "how ...
2007-10-22 02:17:00 -
Mortgage-Backed Securities Volume Weak (AP via Yahoo! Finance)
Issuance of securities backed by subprime mortgages and home equity loans remains weak compared to recent history, as rising delinquencies and defaults among the loans continue to drag down the market.
2007-10-22 11:30:32 -
Mortgage protection bill introduced (UPI)
A bill that would require lenders to make loans borrowers can afford to repay was introduced Monday in the U.S. House of Representatives.
2007-10-22 06:12:06 -
Proposed mortgage rules face hurdles (Los Angeles Times)
Democrats' bill would tighten loan standards. Lenders warn of costs. Democrats introduced legislation Monday that would tighten an array of mortgage lending standards and require U.S. regulators to issue new rules ensuring that loans be made only to borrowers who can afford to repay them.
2007-10-22 09:53:40 -
New bills restrict mortgage abuse (Detroit News)
WASHINGTON -- Responding to chaos in the mortgage industry, U.S. lawmakers soon will consider a range of long-term measures designed to clamp down on abuses and require that lenders make loans that borrowers can afford to repay.
2007-10-22 10:57:55