Mortgage and Financial News From 2007-8-31 Page 17

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• News Minute: Bush to address credit crunch...Japanese stock market ...

  WDAM-TV - WHITE HOUSE (AP) - The housing slump and credit crunch that are worrying financial markets and homebuyers also have ... official says Bush today will discuss ways to help hundreds of thousands of hard-hit borrowers, many in the subprime mortgage ...
  2007-08-31 07:03:00

• Consumer bad debts soar

  Daily Telegraph - The amount British banks have been forced to write off as bad debt has jumped by ... in unsecured debt suggests the main stress is being felt by borrowers on credit ... Mortgage approvals continue to defy gravity," said Alan Clarke of BNP Paribas. "A ...
  2007-08-31 06:27:00

• Fed's assurances anticipated in Bernanke speech today

  Baltimore Sun - ... said this is because lenders can't be absolutely sure that the firms or institutions borrowing the money don't have some exposure to bad mortgage debt on their books. So, she said, one of Bernanke's chores will be to restore confidence to the credit ...
  2007-08-31 07:17:00

• Bush moves to stem mortgage defaults

  Seattle Times - ... today will propose a set of policies meant to help ease the wave of mortgage defaults ... new channel to borrowers," said Allen Fishbein, director of housing and credit ... said he hopes the administration's plan will not reward lenders that made bad ...
  2007-08-31 07:17:00

• No bias is found in credit scores

  Baltimore Sun - Credit scores are heavily used not only in home-mortgage underwriting and pricing, but in credit cards, auto loans ... minority census tracts show consistently higher incidences of bad performance than would be predicted" by their credit scores. On ...
  2007-08-31 07:17:00

• Freddie Mac net falls 45% as bad loans rise in 2Q

  Baltimore Sun - ... than $300 million in the second quarter to account for bad ... Freddie Mac said it recorded the provision for credit losses in the quarter because of problems with loans originated this year and last year.
  2007-08-31 07:17:00

• Mortgage brokers fall on tough times (USA Today)

  Mortgage brokers are leaving the business in droves as the crisis in subprime mortgages leads to fewer products to sell, tighter lending standards and a backlash from lenders who blame them for the meltdown.
  2007-08-31 04:18:44

• Stocks mixed on ongoing worries about U.S. economy, credit market (CP via Yahoo! Canada News)

  TORONTO (CP) - Stock markets drifted mainly lower Thursday morning as investors nibbled at profits amid more bad news from the U.S. mortgage sector.
  2007-08-30 02:48:00

• Credit unions may elude most subprime fallout (Milwaukee Journal Sentinel)

  Wisconsin credit unions beefed up reserves 14% during the past year to cover potentially bad debt, a new state report shows.
  2007-08-31 03:01:58

• Credit woes may hurt auto sales (Lansing State Journal)

  DETROIT - August car sales could be down 10 percent compared with a year ago as the mortgage credit crunch has homeowners feeling less secure and unwilling to sign on for yet another large monthly payment.
  2007-08-31 08:21:33

• Fund placed bad bets on mortgage companies (International Herald Tribune)

  Arnold Schneider's small-company mutual fund went from best to worst after three of his mortgage company holdings slumped 77 percent this year.
  2007-08-31 04:27:12

• Stock markets little changed on bad mortgage sector news, Wal Mart downgrade (CP via Yahoo! Canada News)

  TORONTO (CP) - Stock markets were little changed Thursday morning with investors disinclined to build on Wednesday's big gains in the face of more bad news from the U.S. mortgage sector.
  2007-08-30 03:40:00

• Make sure you can really afford that down payment

  Arlington Heights Daily Herald - The recent increases in mortgage rates have cut the amount potential buyers can borrow to make one of ... Many factors will be considered when applying for a mortgage, such as your income, liquid assets or current debt. Your credit report also is a ...
  2007-08-31 05:23:00

• Thornburg Mortgage Announces Offering of up to $500 Million of Series ...

  MSN MoneyCentral - The difference between the interest rates on its mortgage assets and its cost of funds, which excludes any premium amortization ... These forward-looking statements are based on current expectations, estimates and projections, and are not ...
  2007-08-30 10:24:00

• SKorean shares close sharply higher on hopes for subprime loan ...

  Forbes - ... closed sharply higher Friday on hopes that the US subprime mortgage ... forward to any hint of an immediate cut in US interest rates in a speech by Federal Reserve chairman Ben Bernanke later in the day.
  2007-08-31 07:03:00

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