Mortgage and Financial News From 2007-10-24 Page 23
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No. 1 mortgage lender to offer relief
Miami Herald - Countrywide Financial, the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or ... Wells Fargo, with a mortgage servicing portfolio of $1.41 trillion at the end of June, declined to say how many home ...
2007-10-24 04:07:00 -
Ahead of the Bell: Mortgage Legislation
CNBC - ... lawmakers push for new laws to limit the kind of abusive lending practices that, they say, fed a boom in home loans to ... The nation's largest mortgage lender, Countrywide Financial Corp., said Tuesday it will begin calling borrowers to offer ...
2007-10-24 03:16:00 -
Ross OKd to buy unit of American Home Mortgage
Newsday - ... buy the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. for as much as $500 million. U.S. Bankruptcy Judge Christopher Sontchi in Wilmington, Del., yesterday approved Ross' purchase of the unit after the Melville-based lender ...
2007-10-24 02:48:00 -
Can we prevent my son's home from being repossessed?
Guardian Unlimited - Q My son has an interest-only mortgage with a well-known lender. He suffers from bad depression, which is placing him in financial difficulties, and I have explained to him the danger of his house being repossessed and how the lender would sell it to ...
2007-10-24 01:00:00 -
American Home sues BofA unit over loan losses (The Charlotte Observer)
American Home Mortgage Investment Corp., a subprime lender under bankruptcy protection, sued a unit of Bank of America Corp. over losses tied to the value of $1.62 billion in loans.American Home sold the loans to a pair of special purpose entities the lender set up in 2004, Broadhollow Funding and Melville Funding. Under so-called swap agreements, Bank of America N.A. agreed to cover losses ...
2007-10-24 12:06:39 -
Lender throws lifeline to borrowers (News Interactive)
AMERICA'S biggest mortgage lender, Countrywide Financial, sought to throw a lifeline to tens of thousands of stretched borrowers overnight as home foreclosures spike across the country.
2007-10-23 02:30:00 -
Couple sues subprime lender (The Times of Northwest Indiana)
LOWELL | A Lowell couple is suing their subprime mortgage lender in Hammond federal court in an attempt to rescind their $126,000 home-equity loan, alleging the company did not disclose the terms of the deal.
2007-10-24 01:25:54 -
Ross OKd to buy unit of American Home Mortgage (Newsday)
Wilbur L. Ross Jr., who became a billionaire by investing in failed steel and textile companies, won approval to buy the loan-servicing unit of bankrupt American Home Mortgage Investment Corp. for as much as $500 million.
2007-10-24 03:14:21 -
Mortgage Lender To Help Customers Keep Homes (WESH 2 Orlando)
ORLANDO, Fla. -- The nation's biggest mortgage lender has a new plan to help some homeowners keep their houses. Countrywide will offer refinancing or modifications on $16 billion in loans that have recently reset to higher rates, or will next year.
2007-10-23 08:16:08 -
No. 1 mortgage lender to offer relief (Miami Herald)
Countrywide Financial, the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008.
2007-10-24 04:19:51 -
Housing decline hurting big lenders
Herald Tribune - Lenders liked making these loans because they could earn higher commissions on them, and investors liked buying them because they bore higher interest rates than conventional loans. "Hedge funds and other investors bought large packages of these loans ...
2007-10-21 05:53:00 -
Tuesday 23rd October , 2007
Post-Courier - Were the cuts too generous to high income earners? – “We’re still working our way through it.” Would the cuts put pressure on interest rates? – “We're still working our way through the numbers on that.” The wisdom of obstinately ...
2007-10-23 10:13:00 -
Rising prices a worry for Aussie economy
New Zealand Herald - SYDNEY - Australian producer prices rose faster than expected last quarter, led by higher food and construction costs, fuelling concerns consumer inflation could accelerate enough to provoke another hike in interest rates. Yesterday's figures showed ...
2007-10-23 01:12:00 -
Could the markets regain their record highs by the year's end?
Times Online - But despite the strong bounce, experts gathered at The Sunday Times investment roundtable last week said that now is not the time to pile back into shares. Concerns about the global economy, interest rates and a slump in the UK housing market ...
2007-10-20 05:54:00 -
Road to nowhere
Chicago Sun-Times - ... Jim Cramer, CNBC's markets pundit, was cheering the Federal Reserve's decision on September 19th to cut short-term interest rates. ... was half over I had collared a bewildered clerk and she was leading me to the store's sound system, to pop out the CD ...
2007-10-24 02:55:00