Mortgage and Financial News From 2007-9-26 Page 14

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  • Mortgages harder to get for local borrowers (Seattle Post-Intelligencer)

    Lenders who previously approved mortgages to people with bad credit, no down payment and little or no documentation of income now are refusing loans if even one of those three factors is questionable. This is true even in Seattle.
    2007-09-25 11:01:18

  • Credit-card delinquencies fall in second quarter: ABA (Market Watch)

    CHICAGO (MarketWatch) -- Credit-card delinquencies fell slightly during the second quarter, even during a time that some consumers struggled to keep up with their mortgage payments, according to the American Bankers Association's Consumer Credit Delinquency Bulletin released Wednesday.
    2007-09-26 09:58:49

  • Gold Thoughts

    Safe Haven - No broad based economic need for a 50 basis point interest rate cut was evident. Only purpose of rate cut was to aid investment banks and mortgage brokers. Further, that interest rate cut is now politically impossible to reverse without a ...
    2007-09-26 05:58:00

  • Foreclosures drag down home sales

    Boston Online - The explosion in home foreclosures and a tightening in mortgage lending dragged down ... At open houses, he said, "very often I'm the only person there." Rivers is ... including jumbo loans, which experienced about a 1 percentage point interest rate ...
    2007-09-26 06:06:00

  • Third Annual Survey of America's ''Financial IQ'' Shows Understanding ...

    Forbes - One in five Americans (22 percent) claim they do not know the interest rate on their mortgage. "Things like ... Bad credit not only means you will pay more in interest, it can also affect your ability to get a job, rent an apartment - even ...
    2007-09-26 09:55:00

  • Little interest in troubled British home lender

    The Australian - ... its rescue by the Bank of England, the widespread assumption was that the mortgage ... But raising the necessary financing would only be the first step. The cost of ... Such a book might attract the interest of financial investors, such as Christopher ...
    2007-09-26 12:04:00

  • A Tax Credit For Every Problem

    Forbes - Clinton wasn't the only Presidential candidate proposing tax breaks last week. Rival Sen. Barack Obama (D-Ill) proposed a new tax credit for workers, a new mortgage interest credit for those who don't itemize and a special tax exemption for up to $50 ...
    2007-09-26 12:04:00

  • BoE says no one wanted 3-month loan

    Reuters UK - ... offer of a 3-month loan on Wednesday in a sign credit conditions are easing and because the money only came at a punishing interest rate. ... strapped and might precipitate the kind of crisis that engulfed Northern Rock this month -- the mortgage lender ...
    2007-09-26 10:23:00

  • Anatomy Of A Ratings Downgrade

    BusinessWeek - ... they gave high grades to most of the mortgage-backed bonds whose values have since plunged. Investors consider two main variables when assessing a bond: its price and the interest payments it generates. The agencies say their ratings reflect only the ...
    2007-09-26 06:49:00

  • Fitch Affirms Bear Stearns 2006-PWR13

    Forbes - Fitch has affirmed Bear Stearns Commercial Mortgage Securities Trust's commercial mortgage pass-through certificates ... Interest-only class X-1 at 'AAA'; --Interest-only class X-2 at 'AAA'; --$65.4 million class B at 'AA'; --$29.1 million class ...
    2007-09-26 08:22:00

  • Pulaski Financial Executive Resigns

    MSN MoneyCentral - ... vice president whose primary role was overseeing the bank's residential mortgage ... including changes in general business and economic conditions, changes in interest ... Forward-looking statements speak only as of the date they are made, and the ...
    2007-09-26 09:55:00

  • Dodge warns of inflated housing market

    Globe and Mail - Dodge met with executives from Canadian Mortgage and Housing Corp. (CMHC) to complain about new incentives by the housing agency to encourage interest-only mortgages and mortgages with amortization periods of up to 35 years. CMHC said at the time ...
    2007-09-26 08:57:00

  • Call to split US credit ratings agencies

    Financial Times - ... structure, as opposed to the current issuer-funded setup that may have raised conflict-of-interest issues that contributed to the subprime mortgage ... The executive said it was the only one that allowed ratings agencies to develop costly ratings ...
    2007-09-26 12:46:00

  • SEC eyes more disclosure for rating firms

    CNN Money - The hearing was called in the wake of the recent subprime mortgage crisis and credit ... The agencies contend that they only issue opinions, and that their ratings aren ... of the agencies - especially when it comes to handling conflicts of interest. The SEC ...
    2007-09-26 11:56:00

  • Fitch Ratings Affirms BSCMSI 2004-PWR4 (Business Wire via Yahoo! Finance)

    CHICAGO----Fitch Ratings has affirmed Bear Stearns Commercial Mortgage Securities Trust 2004-PWR4 as follows: $68.5 million class A-1 at 'AAA'; $106 million class A-2 at 'AAA'; $630.9 million class A-3 at 'AAA'; Interest-only class X at 'AAA'; $19.1 million class B at 'AA'; $8.4 million class C at 'AA-'; $14.3 million class D at 'A'; $9.6 million class E at 'A-'; $9.6 million class F at 'BBB+'; ...
    2007-09-26 08:19:00

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