Mortgage and Financial News From 2007-12-13 Page 11

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• ANALYSIS-Mulled asset index could roil Alt-A loan market

  Forbes - Introduced in 2006, the popular ABX index was designed to add liquidity to the marketplace and provide a vehicle for hedging subprime mortgage risks. The index is based on derivatives that are tied to home loans made to consumers with risky or weak ...
  2007-12-13 01:20:00

• Morgan Stanley's Chammah Replaces Top Sales Managers (Update1)

  Bloomberg - Morgan Stanley is slated to announce fourth-quarter results next week, and analysts are expecting the firm to report its first quarterly loss because of writedowns on mortgage securities. The average estimate of eight analysts surveyed by Bloomberg ...
  2007-12-13 11:40:00

• Shares of MGIC Investment fall as Goldman Sachs analyst downgrades ...

  CNBC - Mortgages, especially subprime mortgages given to customers with poor credit history and home equity products, have increasingly gone into default in recent months. MGIC Investment pays out insurance claims to investors when mortgage borrowers fail ...
  2007-12-13 11:33:00

• Stocks Slide After Wholesale Prices Jump

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E-mail Newsletters People ... A slowdown in the housing market remains a concern for Wall Street, as do spiking mortgage defaults that have made banks ...
  2007-12-13 01:06:00

• Lehman Earnings Drop 12% After Mortgage Writedown (Update6)

  Bloomberg - Lehman has eliminated 2,500 mortgage-related jobs and shut its subprime lending unit, BNC Mortgage LLC, in August after U.S. foreclosures rose to a record. BNC, which was making more than $2 billion of home loans a month last year, cut lending to ...
  2007-12-13 01:13:00

• Countrywide Financial funds more mortgage loans in November than ...

  CNBC - CALABASAS, Calif. - Countrywide Financial Corp. said Thursday mortgage fundings rose in November from October. The increase in loans came even as conditions in the mortgage debt markets appeared to deteriorate further, home prices remained mired in a ...
  2007-12-13 07:58:00

• Reverse Mortgage Law Has Unhappy Birthday at Senate Aging Hearing

  Senior Journal - First make reverse mortgage lenders compare their product with other conventional home mortgage products – such as the home equity line of credit. This one act would reduce the future number of reverse mortgages and the problems ...
  2007-12-13 10:35:00

• Win a Home: Win a House America Encourages Brighter Real Estate Future

  Forbes - Win a House America is providing a real opportunity for individuals to own a home without selling their soul to mortgage brokers or banks. Traditional financial institutions scrutinize credit scores, and for many, are never good enough. So, how does ...
  2007-12-13 10:43:00

• Mortgage Rates Climb This Week

  Chicago Tribune - WASHINGTON - Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last ...
  2007-12-13 12:23:00

• 1-800-SELL-NOW Says Rise in Existing-Home Sales Forecast by National Association of Realtors(R) is on the Money but ... (PR Newswire via Yahoo! Finance)

  Forget the "For Sale" sign in the front yard. The subprime mortgage meltdown is forcing home sellers to find new ways to attract buyers. Enter 1-800-SELL-NOW, a national real estate investment specialist which holds the contrarian view that excellent investment opportunities exist for those with liquidity and creativity to refine the seller's message.
  2007-12-13 08:22:00

• Amlak Finance voted as 'Best Mortgage Finance Company' at Islamic Business & Finance Awards 2007 (AME Info)

  In a move dubbed by industry experts as another testament to its leading position in the market, Amlak Finance PJSC, the largest publicly listed finance company and pioneer in home finance in the United Arab Emirates (UAE), was awarded the prize for the 'Best Mortgage Finance Company' at the Islamic Business & Finance Awards 2007, held in Dubai.
  2007-12-13 03:08:29

• Reverse Mortgage Law Has Unhappy Birthday at Senate Aging Hearing (Senior Journal)

  Dec. 13, 2007 – Yesterday was the twentieth anniversary of the law establishing the reverse mortgage program, which allows Americans age 62 or older to transfer their home equity into a monthly income.
  2007-12-13 11:04:45

• Mortgage Rates Climb This Week (San Francisco Chronicle)

  Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of...
  2007-12-13 09:19:42

• Allied Home Mortgage Capital Corporation Opens New Branch Office in Toms River (PrimeNewswire via Yahoo! Finance)

  TOMS RIVER, N.J., Dec. 13, 2007 -- Allied Home Mortgage Capital Corporation has opened a new branch in Toms River, NJ. The branch is the second in the city and the fifty-second in the state.
  2007-12-13 01:15:33

• Allied Home Mortgage Capital Corporation Opens New Branch Office in Baltimore (PrimeNewswire via Yahoo! Finance)

  BALTIMORE, Dec. 13, 2007 -- Allied Home Mortgage Capital Corporation has opened a new branch in Baltimore, Md.
  2007-12-13 01:14:57

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