Mortgage and Financial News From 2008-2-27 Page 01

Previous Day: 2008-02-26

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• Home sales fall a record 40%

  Baltimore Sun - ... which means it would take 14 months to sell all those homes at the current pace if ... Interest rates for "jumbo" loans of more than $417,000 are hovering about a ... President Bush said he would sign this week should help because it includes mortgage ...
  2008-02-26 03:55:00

• Fannie Mae Posts Nearly $3.6B Loss in 4Q

  North County Times - ... of its fourth-quarter losses stemmed from investments it made based on the assumption that falling interest rates would cause mortgage ... If current market conditions continue or worsen, the company said, it may have to raise new capital by selling off ...
  2008-02-26 03:55:00

• HIGHLIGHTS-Remarks by BOJ's Mizuno in Oita, southern Japan

  Forbes - Stocks and exchange rates continued to make unstable movements in February. ... Current macroeconomic conditions are much different from back then. ... heightening on mounting risks to U.S. growth, the prolonged U.S. subprime mortgage ...
  2008-02-26 03:55:00

• Countrywide sued over 'excessive' fees on defaults

  Reuters - The lawsuit, filed on Monday, accuses the embattled number-one U.S. mortgage lender ... it to charge delinquent homeowners for the costs of bringing their loans current ... showed Countrywide has arrangements with attorneys for flat-fee, per-case rates ...
  2008-02-26 03:55:00

• House OKs pay raise

  Journal & Sunday Journal - Per diem pay rates would also increase from $115 to $131, and increases would ... I feel like it really hurts us,” Yoder said, adding the current pay rate makes ... In addition to serving in Charleston, Miller works for a mortgage company, and ...
  2008-02-27 08:40:00

• European Stocks, U.S. Futures Decline; Asian Shares Advance

  Bloomberg - ... slid on speculation Bernanke will indicate the Fed is prepared to keep lowering interest rates in his ... lender said second-half profit fell 8.9 percent as the company wrote down the value of subprime mortgage-related investments. ``Current ...
  2008-02-27 02:17:00

• Asian stocks fall as weak Japanese data bolster fears of global slump ...

  Forbes - ... the slowing economy than inflation, bolstering expectations it will cut rates ... High oil prices were behind an unexpected widening of the South Korean current ... to take billions of dollars in further writedowns on leveraged loans and mortgage ...
  2008-02-27 09:51:00

• Business investment grows as rates soar

  West Online - This is good news for jobseekers, but for aspiring first home buyers and those already struggling to pay off a mortgage ... He said that if capital expenditure continued at current rates, it was very unlikely that GDP growth would slow to an annual ...
  2008-02-27 09:44:00

• Time to refinance may have passed

  Winston-Salem Journal - ... when looking to refinance, most especially, ‘Is it going to benefit your current financial situation?’” he said. Historically, interest rates are still low. Church said that rates were 11 percent or more when he entered the mortgage business in ...
  2008-02-27 10:41:00

• Commercial real estate plunge? Don't bet on it

  St. Petersburg Times - ... betting that commercial real estate will turn out to be the "next subprime" mortgage ... estimates commercial real estate prices could drop 21 to 26 percent from current ... Even if that rate goes up, it isn't anywhere near the double-digit default rates ...
  2008-02-27 09:15:00

• Congress weighs housing lifeline - Debate could begin Tuesday

  Times Reporter - The plan would allow an estimated 8 million homeowners with “upside-down” mortgages to refinance into government-backed loans covering the home’s current value.
  2008-02-25 02:15:00

• Aid on home loans sought

  Los Angeles Times - The last thing potential homeowners, and those looking to refinance into new loans, need in this market is higher mortgage ... to reorganize an individual's debt, but it does not give them authority to fundamentally alter a person's primary home ...
  2008-02-26 01:00:00

• How not to rescue home loans

  Christian Science Monitor - The various proposals could end up rewarding unwise buyers and investors, tap taxpayers' money, and harm growth in home ... Owners whose house values are now less than their mortgages could refinance such loans if the lender saw a risk of the ...
  2008-02-26 04:49:00

• Refinancing sought for stadium's bonds

  Indianapolis Star - A credit crisis on Wall Street, triggered last year by high delinquencies on subprime home mortgages, led to investors ... projected 4 percent interest rate on which the stadium's $704 million construction budget was based, the state will refinance ...
  2008-02-25 11:48:00

• Mortgage brokers 'holding on'

  Baltimore Sun - The broker's job [was] to find warm bodies who are interested in trying to buy or refinance a home." Still, consumer groups and some state officials insist industry and government efforts to date haven't gone far enough.
  2008-02-24 03:57:00

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