Mortgage and Financial News From 2007-8-31
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What Does the Mortgage Meltdown Mean for Online Advertising?
ClickZ - A look at the top online advertisers suggests some lending companies continued to dedicate money to online advertisements in the early summer even as the home mortgage market encountered turmoil. In fact, Bankrate.com , an aggregator of loan rates and ...
2007-08-31 02:59:00 -
CMG Mortgage Honored for Marketing Excellence
Forbes - Interest saved equals more money for principal, so borrowers could build equity faster and own their home sooner - without changing their monthly budget. About CAMB: The California Association of Mortgage Brokers (www.cambweb.org) was established in ...
2007-08-31 03:57:00 -
Bush will propose mortgage assistance
The Washington Times - Some overstretched homeowners can't afford to refinance or even sell their home. Mortgage foreclosures and late payments are expected to worsen. Some 2 million adjustable-rate mortgages are to reset to higher rates this year and next. Steep penalties ...
2007-08-31 04:47:00 -
Tiptoe carefully on lenders' graveyard
St. Petersburg Times - Mortgage lenders seem to be checking out with alarming frequency this year in the Tampa Bay area. The funerary rolls include New Century, HomeBanc, First Magnus, GreenPoint and American Home Mortgage. Mortgage giant Countrywide is holding on, but it ...
2007-08-31 04:04:00 -
The social toll of the US home mortgage crisis
World Socialist Web Site - The following is the first in a two-part series. Home foreclosures in the US have reached near-epidemic scope and scale. In Detroit, there was one foreclosure filing for every 97 households in July alone, according to RealtyTrac.com, the largest ...
2007-08-31 03:49:00 -
Bush to outline subprime mortgage initiative
Boston Globe - The rising home-mortgage default rate has been seized upon by Democrats who say the Bush administration failed to make sure that regulators enforced rules that oblige lenders to make sure that borrowers could repay their loans. Hundreds of billions ...
2007-08-31 04:25:00 -
Accredited Home Buyout Offer Almost Cut in Half to $214 Million (Bloomberg.com)
Aug. 31 (Bloomberg) -- Accredited Home Lenders Holding Co., the subprime mortgage company that fired 60 percent of its workforce and stopped accepting new loan applications, has seen a buyout offer from Lone Star Funds drop almost in half to $214 million in less than three months.
2007-08-31 05:29:57 -
Bush to Offer Proposals To Ease Mortgage Crisis (Washington Post)
The Bush administration today will propose a set of policies meant to help ease the wave of mortgage defaults, according to senior administration officials. It is the administration's first broad effort to deal with the rising number of home foreclosures, which are widely forecast to increase in the...
2007-08-31 03:26:25 -
Investor Notice: Susman Heffner & Hurst LLP Has Filed Shareholder Class Action on Behalf of American Home Mortgage ... (FinanzNachrichten)
Susman Heffner&Hurst LLP has filed a class action on behalf of shareholders who purchased American Home Mortgage Investment Corp. ( Nachrichten ), ( “ AHM “ ) (OTC: AHMIQ.PK) common stock in AHM ' s April 30, 2007, secondary offering for four million (4,000,000) shares of AHM common stock at $23.80 per share.
2007-08-30 10:40:37 -
Home loan losses hit giant mortgage lender (Houston Chronicle)
Growing expected mortgage loan writeoffs were to blame as Freddie Mac reported a second quarter profit that was down 45 percent from a year ago. It is second-largest buyer and guarantor of home mortgages.
2007-08-30 01:58:46 -
American Home Mortgage says it needs a 'crisis' PR firm (Newsday)
Creditors are angry over a request by American Home Mortgage Holdings to hire a PR firm, accusing the bankrupt Melville lender of trying to put its "best face forward . . . concerning the failure of the company."
2007-08-30 11:12:21 -
MCLEAN, Va., Aug. 30 Long-term mortgage rates were down in the Freddie ...
Earthtimes - The 30-year fixed-rate mortgage averaged 6.45 percent with an average 0.5 point for this week, down from last week's 6.52. The 15-year FRM this week averaged 6.12 percent with an average 0.5 point, down from last week when it averaged 6.18 percent ...
2007-08-30 05:41:00 -
Bankruptcy up 60% in Minnesota
MSNBC - They use some of the mortgage to pay off credit card debts," he said "Then two years later, the [mortgage] rates are up and they owe new balances on their cards." Michael Hoverson, a Minneapolis bankruptcy attorney, said he has grown accustomed to ...
2007-08-31 03:49:00 -
Global credit squeeze will push up interest rates: ANZ
Sydney Morning Herald - Were that to be sustained [it] would lead to a rise in mortgage rates all other things being equal," the bank's chief executive, John McFarlane, said yesterday. "It really depends how long this is sustained. If it moves away quickly, which I doubt ...
2007-08-31 02:02:00 -
Bush Plans Steps to Help Ease the Mortgage Crisis
Washington Post - ... mortgage insurance program that would allow more people to refinance with FHA insurance if they have fallen behind on adjustable-rate mortgages, which offer low introductory rates that can later rise, sometimes doubling a monthly mortgage payment.
2007-08-31 03:42:00