Mortgage and Financial News From 2007-9-29 Page 15
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Greenspan has compelling, socially beneficial reasons to speak up
My West Texas - As the mortgage markets continue to work through their difficulties and the Federal Reserve lowers interest rates more significantly than anticipated, Alan Greenspan has ... When he has something to say, it can only benefit the financial markets to ...
2007-09-29 12:04:00 -
Mortgage Meltdown: What Does It Mean?
E-Commerce Times - In addition, there is a new mortgage instrument out that permits the buyer to borrow money and make no principal payments for a certain number of years: interest-only mortgages. This new type of mortgage grants credit to people who heretofore would ...
2007-09-28 08:05:00 -
AP Business NewsBrief at 1:09 a.m. EDT
CNBC - ... data raised expectations that the Federal Reserve Bank would again lower interest ... was shut down by the government on Friday because of an excessive level of mortgage ... Many believe it's only a matter of time before oil begins a seasonal price ...
2007-09-28 10:10:00 -
Wall St weaker amid economic data
MSNBC - The S&P 500 hit a record level in mid-July, only to tumble nearly 10 per cent as ... in August and catalysed by the Federal Reserve's 50 basis point cut in interest ... and home finance stocks have been hit hardest as home sales fell and mortgage ...
2007-09-28 11:07:00 -
Analysts see drop in auto sales in Sept.
Denver Post - Jesse Toprak, chief economist for the auto information site Edmunds.com, predicts Honda Motor Co. will be the only automaker to report an increase in sales, helped by the arrival of the new 2008 Honda Accord. Automakers are scheduled to report ...
2007-09-28 03:36:00 -
FDIC shuts down NetBank due to defaults
Denver Post - ... an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an excessive level of mortgage ... While some Internet-only banks are successful, he said, operating one without retail branches can be a difficult strategy ...
2007-09-28 03:36:00 -
Sub-primers could be sunk
The Sun - HOMEOWNERS with bad credit ratings could face losing their homes after claims that repayment costs could soar by up to 60 per cent. A borrower with an £85,000 interest only mortgage could be shelling out £500 today - but it could rise to £800 as ...
2007-09-28 05:30:00 -
Dade audit cites lax controls at poverty agency
Miami Herald - A Miami-Dade anti- poverty agency exercised little control over millions of dollars in low-interest loans ... In one case, a buyer's mortgage on a $115,000 home was only $15,000 after trust subsidies. At least half the homes were to be sold to low ...
2007-09-28 11:57:00 -
Small gains despite roiling market
Seattle Times - ... that goes almost entirely to the Federal Reserve, whose unexpectedly large interest ... As mortgage defaults climbed, those securities looked riskier and riskier. "There was ... Online retailers, though, not only avoided the woes of their brick-and-mortar ...
2007-09-29 12:04:00 -
Fitch Takes Various Ratings Actions on MLMI, Series 1997-C2 (Business Wire via Yahoo! Finance)
NEW YORK----Fitch Ratings takes various rating actions on Merrill Lynch Mortgage Investors, Inc.'s commercial mortgage pass-through certificates, series 1997-C2 as follows: $700,159 class J downgraded to 'C/DR6' from 'C/DR5'. $12.0 million class H downgraded to 'CCC' from 'B-' and assigns a Distressed Recovery rating of 'DR2'; Interest-only class IO affirmed at 'AAA'; $31.1 million class D ...
2007-09-28 01:47:00 -
Fitch Ratings Affirms Banc One/FCCC, Series 2000-C1 (Business Wire via Yahoo! Finance)
NEW YORK----Fitch affirms Banc One /FCCC, commercial mortgage pass-through certificates, series 2000-C1 as follows: Interest-only class X at 'AAA'; $7.0 million class G at 'AAA'; $15.0 million class H at 'AA'.
2007-09-28 10:55:00 -
Fitch Ratings Affirms Merrill Lynch Mortgage Trust, Series 2004-Key2 (Business Wire via Yahoo! Finance)
NEW YORK----Merrill Lynch Mortgage Trust, series 2004-KEY2, commercial mortgage pass-through certificates are affirmed by Fitch Ratings as follows: $21.9 million class A-1 at 'AAA'; $260.3 million class A-1A at 'AAA'; $193.7 million class A-2 at 'AAA'; $92.1 million class A-3 at 'AAA'; $345.7 million class A-4 at 'AAA'; Interest-only class XC at 'AAA' Interest-only class XP at 'AAA'; $26.5 ...
2007-09-28 08:16:00 -
Fitch Ratings Affirms DLJ Commercial Mortgage Corp. Series 1998-CF1 (Business Wire via Yahoo! Finance)
NEW YORK----Fitch affirms DLJ Commercial Mortgage Corp.'s commercial mortgage pass-through certificates, series 1998-CF1 as follows: $58.5 million class A-1B 'at AAA'; Interest-only classes CP and S at 'AAA'; $50.4 million class A-2 at 'AAA'; $50.3 million class A-3 at 'AAA'; $41.9 million class B-1 at 'AAA'; $10 million class B-3 at 'AAA'; $27.1 million class B-4 at 'A'; $6.3 million class B-7 ...
2007-09-28 10:41:00 -
Soaring prices dampen August home resales
Globe and Mail - ... could argue that even if a cooling of sales extends into next year, it will be offset by the strong take-up rates ... Forty-year amortizations have already become the most popular term with mortgage applicants as home prices continue to rise, according ...
2007-09-28 05:38:00 -
China Sets New Mortgage Rules To Curb Rising Home Loans, Property ...
All Headline News - The People's Bank of China and the China Banking Regulatory Commission said one new rule requires people with more than one mortgage to pay higher down payments and interest rates on home loans. Banking regulators also banned refinancing of existing ...
2007-09-28 05:16:00