Mortgage and Financial News From 2007-8-31 Page 01

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  • Bush Moves Against Home Financing Crisis

    CBS News - CBS/AP) When Florida real estate was red-hot, Pam Calciano thought a $400,000 second home was a good investment. Not any ... step in today, offering a new plan that would allow families in default because of rising payments to refinance into mortgages ...
    2007-08-31 10:48:00

  • Lender restrict risky loans

    Boulder County Business Report - With regard to second mortgages, the risk is especially high for investors during a time of record-high foreclosures. In most cases, first mortgages get priority to seize the home should the borrower default. Troubles to obtain refinancing or home ...
    2007-08-31 04:43:00

  • Bush plan seen as "Band-Aid" for consumers

    Reuters - Bush's proposals to help homeowners burdened with subprime mortgages they can't afford are a "Band-Aid" that will offer U.S ... You always have to start with that second thing and then say, 'How do we bridge these people into that new market?' ...
    2007-08-31 07:34:00

  • Bush outlines proposals to help homeowners with risky mortgages

    Fox 6 - WHITE HOUSE (AP) - President Bush has outlined the administration's first effort to deal with an expected wave of mortgage defaults fueled by the mortgage crisis. The initiatives, which are not aimed at bailing out lenders or speculators, are ...
    2007-08-31 03:31:00

  • Wall St up as Bush offers subprime help

    Financial Times - Freddie Mac , the government-backed mortgage company, also recouped some of the losses it bore on Thursday after reporting a 45 per cent plunge in second-quarter net income on a $320m loss on new mortgages. Its shares gained 3.7 per cent on the day ...
    2007-08-31 07:49:00

  • DJIA Leaders & Laggards: HD HON

    Boston Globe - ... Depot shares rose $1.27, or 3.4 percent, to finish at $38.31 after President Bush proposed help for homeowners with risky mortgages Also rising were shares of Hewlett Packard Co., which gained 91 cents to end at $49.35. Intel Corp. rose for a second day ...
    2007-08-31 09:29:00

  • Bush to Expand Government Role to Deal With Subprime (Update4)

    Bloomberg - Aug. 31 (Bloomberg) -- President George W. Bush will today announce steps the administration says will help people with subprime mortgages keep their homes. Bush will let the Federal Housing Administration, which insures mortgages for low- and middle ...
    2007-08-31 12:03:00

  • Defaults on Insured Mortgages Up 28%, Industry Says (Update1)

    Bloomberg - Defaults on Insured Mortgages Up 28%, Industry Says (Update1) By Josh P. Hamilton Aug. 31 (Bloomberg) -- Defaults by U.S ... PMI Group Inc., the second largest, rose $1.44, or 4.8 percent, to $31.37. The Walnut Creek, California-based insurer ...
    2007-08-31 03:24:00

  • Freddie Mac Profit Cut by Half

    Washington Post - Freddie Mac yesterday reported that its second-quarter profit fell by nearly half, in part because it set aside more money to cover expected losses from defaults on mortgages. The financial results were another indicator of the deterioration in the ...
    2007-08-31 10:59:00

  • Bush outlines plans for helping pay mortgages

    AZCentral.com - ... initiatives, which are not aimed at bailing out lenders or speculators, are designed to help homeowners with risky mortgages ... The Commerce Department reported Thursday that the gross domestic product grew at an annual rate of 4 percent in the second ...
    2007-08-31 07:13:00

  • Stocks finish higher after Bernanke, Bush speeches on credit markets ...

    CNBC - ... their gains after President Bush spoke about details of a plan to help borrowers facing trouble paying their mortgages. "You've ... Church said the market was helped by Friday's economic figures as well as a stronger-than-expected reading on second ...
    2007-08-31 08:24:00

  • Freddie Mac reports 45 percent drop in second-quarter profit due to ...

    Worldnews.com - WASHINGTON - Freddie Mac, the nation's second-largest buyer and guarantor of home mortgages, said Thursday its second-quarter profit fell 45 percent as it had to record larger provisions on its books for bad loans. The McLean, Va.-based company said ...
    2007-08-31 05:26:00

  • Freddie Mac Earnings Drop 45% (New York Times)

    The nation?s number 2 buyer and backer of home mortgages saw a 45 percent drop in second-quarter profits after setting aside $300 million to account for bad loans.
    2007-08-31 03:13:34

  • Freddie Mac Profit Cut by Half (Washington Post)

    Freddie Mac yesterday reported that its second-quarter profit fell by nearly half, in part because it set aside more money to cover expected losses from defaults on mortgages.
    2007-08-31 03:26:04

  • Bush to outline proposals to help homeowners with risky mortgages from losing homes (WTVG-TV Toledo)

    The president on Friday was to talk about several initiatives and reforms to help homeowners with risky mortgages keep their homes, a senior administration official said Thursday. Bush also was to discuss efforts to prevent these kinds of problems from arising in the future.
    2007-08-31 02:36:01

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