Mortgage and Financial News From 2008-2-23 Page 4

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  • You save to secure the best mortgage rate, and then the lender shifts the goalposts (Independent)

    Mortgage lenders could be set to raise rates by the back door, making changes to lending conditions that will force borrowers to pay more for a new home loan.
    2008-02-23 04:08:28

  • The rates are great but the future isn't Rock-solid (Independent)

    A key message to come out of last week's nationalisation of Northern Rock is that it could be very good news for savers.
    2008-02-23 04:10:28

  • You think you've got a bargain but you could have overpaid for your home (Independent)

    Should buyers beware of property developers bearing gifts? Against the backdrop of a stagnant housing market, tempting deals are proliferating. But first-timers, in particular, are being urged not to take these offers at face value.
    2008-02-23 04:13:59

  • Labour is the enemy in the new class war (Daily Telegraph)

    After winning the 1959 election, Harold Macmillan announced that "the class war is over" - and promptly formed a cabinet boasting four lords. Forty years later, Tony Blair produced a cover version of that gag. "The class war is over," he echoed, before popping back to the Commons to ban hunting with hounds.
    2008-02-23 04:23:16

  • US STOCKS-Talk of bond insurer rescue spurs late stock rally

    Reuters - The triple-A credit ratings of Ambac and rival MBIA have come under threat because of their exposure to risky mortgage bonds. That has forced banks to write down the value of holdings insured by the two companies.
    2008-02-21 03:53:00

  • No Bond Insurer Is An Island

    Street.Com - High-credit ratings are critical for these companies, which provide backstops and credit enhancements on securities from municipal bonds to funkier mortgage paper. Although MBIA -- the largest of the litter -- has raised some $2.5 billion in ...
    2008-02-20 03:54:00

  • Wall St traders set to weigh recession odds

    Gulf Times - American International Group is one of the companies being eyed by Wall Street for signs of any more mortgage-related losses. The world’s largest insurer is set to release results on Thursday.
    2008-02-23 02:04:00

  • Mitsubishi UFJ to Raise Stake in Singapore's Kim Eng (Update4)

    Bloomberg - Profit at Japan's three largest banks, including Mitsubishi UFJ, fell by at least 19 percent for the nine-month period ended Dec. 31. as they lost money on stakes in domestic consumer- finance companies and U.S. mortgage-related investments.
    2008-02-21 10:34:00

  • Cashing in on pollution

    CNN Money - Like all real estate firms, Cherokee has been affected by the subprime mortgage crisis, the resulting credit crunch and ... Regulators are striking back against a common strategy used by giant drug makers to block competition from generic companies ...
    2008-02-22 01:19:00

  • Small banks fairly positive on loans

    Forbes - WASHINGTON (AP) - Smaller banks nationwide were 'mildly optimistic' a few months ago about increasing mortgage lending this ... The community banks surveyed said they sold 11.5 percent of their home loans to the government-sponsored finance companies ...
    2008-02-21 02:35:00

  • Chelsea Clinton makes El Paso stop

    El Paso Times - ... said economic reforms spearheaded by her mother would include making tax cuts permanent, but only for people earning less than $250,000 a year; freezing an increase in adjustable-rate mortgage rates for five years; closing tax loopholes for companies ...
    2008-02-23 03:37:00

  • Bill would allow state office to share financial data with other ...

    Maryland Daily Record - The bill is meant to prevent financial crimes by sharing information about offenders as it becomes available, Rooney said, but that information could also be used to protect consumers from national mortgage companies in non-criminal circumstances.
    2008-02-21 03:32:00

  • Blue Chip fallout threatens third parties

    Stuff - That would place apartment owners in default of their mortgage obligations to keep their properties insured. Robinson said the insurance companies would normally contact the mortgagees (the banks) when a cancellation notice was issued and give them ...
    2008-02-23 06:36:00

  • British mortgage lender Northern Rock is nationalized

    USA Today - Britain's fifth-largest mortgage lender was rescued by loans from the Bank of England in September and the government also ... Such downsizing is standard for companies, publicly or privately owned, that obtain significant government aid for ...
    2008-02-22 04:46:00

  • UPDATE 2-Reuters Summit-US seeks private sector fix for housing

    Forbes - He acknowledged that it has been a challenge putting together an unwieldy group of mortgage companies and investors who were not used to working together to rescue homeowners.
    2008-02-21 12:47:00

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