Mortgage and Financial News From 2008-3-14 Page 01
Previous Day: 2008-03-13
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Wolseley hit by fear of new issue to cut debt
Times Online - ABN Amro, the house broker, struck the hardest blow, giving warning that Wolseley’s net debt could rise to three times ... However, Standard & Poor’s statement that the end of mortgage asset writedowns was in sight and US plans to buy up sub-prime ...
2008-03-13 04:43:00 -
Company Bond Risk Soars as Carlyle Fund Edges Toward Collapse
Bloomberg - March 13 (Bloomberg) -- The cost of protecting corporate bonds from default soared to a record after Carlyle Group's mortgage ... North America Investment Grade index climbed 6 basis points to 188 and earlier traded at a record 197, according to broker ...
2008-03-13 02:48:00 -
London traders told stop dealing with Bear
MSN UK News - Credit Suisse had also stopped trading with Bear Stearns, a London-based equities broker said. ... the latest in the Fed's efforts to soothe financial markets in response to a widening credit crisis spurred by rising mortgage ...
2008-03-14 04:42:00 -
Fed Acts on Wall St. Domino Theory
New York Times - Bear Stearns was one of the first firms to experience a direct blow from the subprime mortgage crisis when two of its hedge ... A manager at one hedge fund that uses Bear Stearns as its prime broker said his firm had been nervously watching the ...
2008-03-14 08:02:00 -
End in sight to subprime mortgage writedowns: S&P
MSN MoneyCentral - The Amex Securities Broker/Dealer index , which includes investment banks and brokerages, shed nearly 5 percent before ... S&P also said some subprime mortgage write-downs are larger than any reasonable estimate of actual losses.
2008-03-13 11:56:00 -
Tarpon winner says door-to-door paid off
St. Petersburg Times - The 44-year-old mortgage broker said she was "very, very excited" to get started. Among her priorities as a commissioner will be to work to preserve Tarpon Springs' historic buildings, fix up local roads and recruit new businesses downtown, Slattery ...
2008-03-12 09:09:00 -
FACTBOX-Regulators propose U.S. mortgage rules revamp
Reuters - Strengthen government oversight of mortgage lenders and brokers; create nationwide broker licensing across the states -- Urge regulators and their financial institutions to build more capital reserves against risky investments.
2008-03-13 08:22:00 -
Las Vegas couple face federal charges in mortgage fraud case
MSNBC - LAS VEGAS - A Las Vegas real estate broker and her husband are facing federal charges they made millions of dollars orchestrating a mortgage fraud scheme. U.S. Attorney for Nevada Gregory Brower says Eve Mazzarella, 30, and her husband, Steven Grimm ...
2008-03-13 05:54:00 -
Doors slam on mortgage deals
Financial Times - Borrowers looking for new mortgages are being thrown into complete chaos as deals they have agreed with their broker disappear from the market just hours before applications were to be signed. Many are now facing unaffordable increases to mortgage ...
2008-03-14 08:16:00 -
Regulation to the Rescue
Washington Post - It endorsed nationwide mortgage broker licensing -- as a House-approved bill already would require. The report blessed a European practice under which mortgage lenders hold equivalents of their securitized loans in their own portfolios, so that they ...
2008-03-14 09:14:00 -
HUD plan would overhaul mortgage disclosure form
Boston Globe - The mortgage broker industry had been expected to oppose the proposal because it also calls for lenders' payments to brokers, known as yield-spread premiums, to be disclosed to borrowers before they go to settlement.
2008-03-14 09:06:00 -
Case study: Dilemma as tracker offer disappears (Financial Times)
After days of scouring the market for the best deal, Jane Green had finally settled on a remortgage offer. She had scheduled an appointment with her mortgage broker and was ready to sign up to a competitively priced two-year tracker loan with Scottish Widows Bank.
2008-03-14 08:01:46 -
Plain-talk disclosures proposed (Los Angeles Times)
Mortgage disclosure forms, long considered baffling, incomprehensible and misleading, are about to get an overhaul, federal officials promised Friday.
2008-03-14 08:05:27 -
Plan calls for more transparency (Colorado Springs Gazette)
WASHINGTON - Prospective homebuyers would get easierto-understand information on mortgage terms and save an estimated average of $700 in closing costs under a proposal unveiled Friday by President Bush.
2008-03-14 08:29:22 -
Doors slam on mortgage deals (Financial Times)
Banks that have long fought each other to win mortgage customers, are now, unusually, taking steps to repel them. Some are withdrawing entire mortgage ranges with very little notice and many are increasing interest rates to levels that are demonstrably unattractive.
2008-03-14 08:32:01
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