Mortgage and Financial News From 2007-10-12 Page 5

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  • U.S. urges vigilance over credit markets

    Boston Globe - Financial markets across the world had a rollercoaster ride as mortgage defaults in the U.S. subprime sector froze dealings in complex financial products related to those problem loans. This prompted cash injections by the U.S. Federal Reserve and ...
    2007-10-12 02:51:00

  • Interthinx(R) Acquires NIA Consulting

    Earthtimes - NIA Consulting conducts forensic audits on defaulted mortgage loans and aggregates data from its detailed mortgage loan audit reports. Currently, data from NIA's detailed audits is stored for use during investigations to determine commonalities and ...
    2007-10-12 11:52:00

  • UPDATE 1 - Global defaults to reach 4.5-5.5 pct by 08-Barclays

    Reuters - Lending standards have already tightened for commercial mortgage loans, and that is likely to be followed by more tightening in business, or commercial and industrial loans, Barclays said. "Credit markets have certainly turned the corner," helped ...
    2007-10-12 06:58:00

  • Hedge funds enter mortgage arena

    Boston Globe - PHILADELPHIA -- Hedge funds and private equity investors are gaining a foothold in the business of mortgage loan servicing as ... From a consumer perspective, it's an improvement to have these loans in a mainstream bank," said John Taylor, chief ...
    2007-10-12 03:19:00

  • Paulson & Co. Gives $15 Million to Borrower Advocates (Update1)

    Bloomberg - The change would further devalue securities based on home loans to borrowers with poor credit. Bets on rising subprime-mortgage defaults helped New York-based Paulson & Co. more than double its assets this year, to $21 billion. ``Losses ...
    2007-10-12 02:36:00

  • A Subprime Bet for Paulson?

    BusinessWeek - We just invested because we saw that the subprime loans underlying these mortgage backed securities were unsound," Waldorf said. Day says the $15 million contribution, disclosed on Oct. 11, comes with "no strings attached" and will be used to finance ...
    2007-10-12 05:00:00

  • Beazer Opens The Door To Litigation

    Forbes - The company said that the amount of its liability will depend on the number of FHA-insured loans originated by Beazer Mortgage Corporation, the percentage of such loans in which misrepresentations or fraud may have occurred, and the default rate ...
    2007-10-12 04:38:00

  • Salt River adds tribal financial services

    AZCentral.com - Partnered with Salt River Business Owners Association, National Bank of Arizona and TruWest Credit Union, the non-profit lender also will offer business and mortgage loans. Loans and expertise for home improvement and custom-built homes within the ...
    2007-10-12 04:38:00

  • Germany welcomes draft hedge fund code

    MSN MoneyCentral - Berlin's preoccupation with the opacity of the hedge fund sector has receded into the background since this summer's credit squeeze cast light on other risk factors for financial markets, such as securitised mortgage loans. The near-collapse and ...
    2007-10-12 02:36:00

  • Mortgage landscape changing

    Minneapolis Star Tribune - Just six months ago, home buyers with borderline credit, questionable income and no money down could easily snag a mortgage. Today lenders are playing it safe in response to increasing problems with subprime sweetheart loans and recent state ...
    2007-10-12 05:07:00

  • Texas AG proposes measures to protect homeowners

    MSN MoneyCentral - Provide long-term solutions for borrowers with adjustable-rate mortgage loans. Mitigate first, collect second. Create an in-house resolution committee to address consumer complaints. Improve communication with consumers. Waive applicable ...
    2007-10-12 12:13:00

  • Codelco Says U.S. Copper Demand Unhurt by Subprime-Loan Losses

    Bloomberg - Oct. 12 (Bloomberg) -- Codelco Executive President Jose Pablo Arellano said demand for copper hasn't been hurt by the losses on so-called subprime mortgage loans in the U.S. Copper has jumped 27 percent this year as the weak dollar and low stockpiles ...
    2007-10-12 10:47:00

  • The O.C. Mortgage Bust

    Washington Post - They are tied to mortgage companies that made loans to subprime borrowers -- people with spotty credit-- using money from Wall Street . During the boom years, these companies prospered by hiring salespeople to aggressively push their loans to ...
    2007-10-12 06:33:00

  • Countrywide Bad Loans Rise, Cuts Nearly 5,000 Jobs

    Reuters UK - NEW YORK (Reuters) - Countrywide Financial Corp (CFC.N: Quote , Profile , Research ) said on Thursday it funded 44 percent fewer mortgage loans in September as it tightened lending standards, while delinquencies increased and foreclosures more than ...
    2007-10-12 05:00:00

  • 401(k) loans come with caveats (USA Today)

    The credit crunch has dried up many loans, forcing debt-burdened Americans to seek other options. One easy-to-use alternative is a 401(k) loan. But be aware: It isn't necessarily a wise choice for most people.
    2007-10-12 01:07:00

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