Mortgage and Financial News From 2008-2-27 Page 4

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• Derry officials: Reverse mortgage not income

  Union Leader - Last year, 15 residents 65 or older were denied exemptions because of income; three of them had reverse mortgages, CFO Frank Childs said. Officials changed the policy this month after receiving word that it's up to individual communities to decide ...
  2008-02-26 08:48:00

• Standard Chartered Net Rise 23% on Hong Kong, India (Update1)

  Bloomberg - Feb. 26 (Bloomberg) -- Standard Chartered Plc, the only U.K. bank trading higher than a year ago, said second-half profit ... South Korea had a $155 million mark to market loss related to mortgages. ``We are not satisfied with our performance in Korea ...
  2008-02-26 02:11:00

• Why Big Law Is Bracing For a Leaner 2008

  Wall Street Journal - At Orrick, Herrington & Sutcliffe LLP, the firm's major practice in securitizations, or the packaging of mortgages and other loans into securities, was less active in the second half of last year.
  2008-02-24 03:57:00

• UK buy-to-let lending up 16 pct year-on-year in H2 2007 - CML

  Forbes - The CML reported total buy-to-let lending came to 24.1 bln stg in the second half of 2007, up from 21.2 bln in the first half and 20.8 bln in the same period a year earlier. This helped bring the total number of outstanding buy-to-let mortgages past ...
  2008-02-26 02:18:00

• Kill the competition: Visa's $18bn IPO ... Raid on City lawyers ...

  Times Online - Citigroup may suffer its second successive quarterly loss because of more writedowns tied to subprime mortgages, Meredith Whitney, a leading analyst, said.
  2008-02-25 11:34:00

• Tips on getting home loans

  Detroit News - No-money-down mortgages will be harder to find and more expensive. Don Taylor / Bankrate.com ... With this option, a second mortgage is taken out at the same time you close on the first mortgage.
  2008-02-24 03:57:00

• An expensive case of Grid lock

  Guardian Unlimited - That effectively means an end to Nationwide doing business with first-time buyers, especially in the capital - and many second-timers too. The ending of supersize mortgages is also squarely aimed at those trying to get their first foot on the housing ...
  2008-02-25 11:55:00

• Mortgages & homes - Buy to let

  This is Money - ... capital growth failed to dent the huge appetite for residential property investing, with outstanding buy-to-let mortgages now worth £122bn - up from £95bn at the end of 2006. The buy-to-let market saw the rate of growth fall back in the second half ...
  2008-02-26 08:02:00

• Most U.S. Stocks Fall, Led by Utilities, Drugmakers; Banks Gain

  Bloomberg - Financial shares also gained after regulators allowed Fannie Mae and Freddie Mac to buy more mortgages. ... Goldman rose $8.10, or 4.7 percent, to $180.80 for the second-biggest gain in the S&P 500.
  2008-02-27 01:59:00

• UPDATE 2-Citigroup may post 1st-qtr loss - Oppenheimer

  Reuters South Africa - NEW YORK, Feb 25 (Reuters) - Citigroup Inc (C.N: Quote , Profile , Research ) may suffer its second straight quarterly loss because of more write-downs tied to subprime mortgages, risky corporate debt and consumer loans, Oppenheimer & Co analyst ...
  2008-02-24 03:57:00

• Foreclosure bill faces Senate test

  CNN Money - Community and consumer advocates counter those numbers by pointing out that no substantial premium attaches to second-home mortgages, which judges are allowed to adjust.
  2008-02-24 03:57:00

• MBIA Will Halt Asset-Backed Business, Split Units (Update3)

  Bloomberg - MBIA increased its reserve for claims related to second- lien mortgages by $100 million for a total of $200 million less than a week after reporting its fourth-quarter results.
  2008-02-24 03:57:00

• Hammerson chief warns of drop in commercial property prices

  Times Online - Hammerson wrote down the value of its own portfolio during its second half to December 31 by 5.5 per cent, equivalent to a ... Also in Property & Mortgages
  2008-02-26 01:43:00

• Exclusive Interview with Franz J. T. Lee: Venezuela and the USA

  Centre des Médias Alternatifs du Québec - At the same time, the banks stepped in and credit cards were raining down like manna from the sky; furthermore, second mortgages and refinancing began to play havoc with this buffer class; like the USA itself, deeper and deeper, millions are ...
  2008-02-27 02:20:00

• HBOS slides but remains positive

  Daily Telegraph - Investors were further spooked by an unexpected £7.1bn exposure to US Alt-A mortgages, classified as one notch above sub-prime ... interest margins fell to 1.63pc from 1.72pc after being eroded in the first half by fierce competition and in the second ...
  2008-02-27 03:53:00

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