Mortgage and Financial News From 2007-9-11 Page 12
Previous Day: 2007-09-10
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Wall Street holds gains on hopes interest rate cut is near (Detroit News)
NEW YORK -- Wall Street rose sharply Tuesday as investors grew more confident that the Federal Reserve will lower interest rates next week, even after its chairman gave no clues about the central bank's intentions. The Dow Jones industrials rose more than 130 points.
2007-09-11 12:52:36 -
Bernanke Says `Saving Glut' Still Helps Lower Rates (Update1) (Bloomberg.com)
Sept. 11 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the ``global saving glut'' is still helping to keep interest rates low, and they may not rise much even should the pool of excess capital dwindle in coming decades.
2007-09-11 08:19:46 -
Bernanke Says `Saving Glut' Still Helps Lower Rates (Update5) (Bloomberg.com)
Sept. 11 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the ``global saving glut'' is still helping to keep interest rates low, and they may not rise much in the event that the pool of excess capital dwindles in coming decades.
2007-09-11 12:34:41 -
Bernanke sees upward pressure on global rates (FT.com via Yahoo! News)
The rise in long-term real interest rates around the world over the past three years appears to be the result of increasing appetite for investment in developed nations and not any diminution of the "global savings glut" that originates in the developing world, Ben Bernanke said on Thursday.
2007-09-11 11:40:20 -
Bernanke: Current account gap cannot persist (Reuters via Yahoo! News)
Federal Reserve Chairman Ben Bernanke on Tuesday offered financial markets scant guidance on where U.S. interest rates may be heading in a speech in which he said the U.S. current account gap is unsustainable.
2007-09-11 01:44:07 -
Fifth Third Says It Has No Subprime Loans Outstanding (Update1)
Bloomberg - Our charge-off levels in both mortgage and home equity are higher than the norm and that's largely driven by conditions in ... Countrywide Shares Decline on Report Mortgage Lender Needs More Capital Three-Month Dollar Interbank Interest Rate ...
2007-09-11 11:38:00 -
Loans based on your home equity
Best Syndication - Do you want to cash the equity in your home? It’s very easy. You have to pledge your home to the lender and a big loan might be awaiting you. Every home has certain market value and if we deduct the unpaid mortgage balance, if any, we get the value ...
2007-09-11 11:17:00 -
Thornburg Mortgage Bankruptcy is Unlikely, UBS Says (Update1)
Bloomberg - Thornburg Mortgage Bankruptcy is Unlikely, UBS Says (Update1) By Jeff Kearns Sept. 11 ... the most in three weeks after UBS Investment Bank said the provider of jumbo home ... percent on Aug. 14 after five brokerages downgraded the stock on concern the lender ...
2007-09-11 07:42:00 -
1-800-CashOffer Announces Short Sale Service
Forbes - The home seller and investor complete a set of documents which are submitted to the mortgage lender, and the process begins to determine if the lender is willing to accept the amount offered for the house. According to 1-800-CashOffer CEO Jeremy ...
2007-09-11 06:02:00 -
UK subprime lender Victoria Mortgages goes into administration
CNBC - The FSA added that mortgage lender GMAC-RFC had offered to review potential completions for home purchase transactions due in the next three days, with a view to providing borrowers with a mortgage loan. Victoria Mortgages launched two years ago, with ...
2007-09-10 10:45:00 -
RPT-UPDATE 2-Mortgage brokers say most customers couldn't refi
Reuters - NEW YORK, Sept 11 (Reuters) - Some 57 percent of mortgage broker customers were ... are unable to refinance loans under tighter underwriting guidelines and as home ... in the weeks ahead, 14 percent of brokers said they had no available lender for ...
2007-09-11 11:46:00 -
Pender: When you get 'goodbye letter' from lender, call to verify
San Francisco Gate - Today I'll share more reader questions and comments on the mortgage meltdown. First up is Pam G. with a ... foreclosure, how long would that stay on their credit report? (In a short sale, the owner sells the home and remits the proceeds to the lender ...
2007-09-11 11:38:00 -
Countrywide Falls, ImClone Soars
Wall Street Journal - Countrywide Financial fell Tuesday on news the home-mortgage lender is putting together another bailout plan. ImClone jumped on strong study news. The Dow Jones Industrial Average gained 94.22, or 0.7%, to 13222.07, while the Nasdaq Composite Index ...
2007-09-11 07:35:00 -
Countrywide Shares Fall on Report Lender Needs Cash (Update1)
Bloomberg - Sept. 11 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage lender, fell as much as 5 percent in stock trading after the New York Post said a second multibillion-dollar bailout of the company is being negotiated. ``Countrywide is ...
2007-09-11 07:14:00 -
Fitch downgrades bonds issued on American Home Mortgage loans
Newsday - ... traders guidance on the likely performance of bonds and other transactions, has downgraded $16.2 million in "scratch and dent" bonds issued based on low-quality and risky loans issued by the defunct Melville-based lender American Home Mortgage. The ...
2007-09-11 12:07:00
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