Mortgage and Financial News From 2008-2-27 Page 7

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

  Chicago Tribune - ... to 90 percent of its fourth-quarter losses stemmed from investments it made based on the assumption that falling interest rates would cause mortgage values to appreciate. Shares of Washington-based Fannie, the largest U.S. buyer and backer of home ...
  2008-02-27 01:44:00

• Fannie Mae Introduces HomeSaver Advance(TM) Mortgage Workout Option ...

  MSN MoneyCentral - Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates.
  2008-02-27 01:52:00

• Fannie, Freddie pelted with dismal 4Q forecasts; shares fall after ...

  CNBC - They lost $1.4 billion and $2 billion, respectively, the third quarter of 2007 as mortgage defaults mounted and they were forced to set aside billions of dollars to account for sour loans.
  2008-02-25 02:08:00

• Hyperion Bank Appoints Construction Lending Senior VP

  Biloxi Sun Herald - He has originated over $800,000,000 in commercial loans while working as a direct lender and a mortgage banker. "Frank's varied experience in commercial real estate, land, land improvement, construction, renovation and joint ventures adds another ...
  2008-02-27 12:19:00

• Stocks Finish Mixed in Choppy Session

  Forbes - ... Freddie Mac - the biggest sources of financing for U.S. home loans - helped give the market some ballast after the government removed restrictions on the size of their portfolios. That offered a chance for an easing of the extremely tight mortgage ...
  2008-02-27 02:27:00

• Bernanke Calls Plan to Buy Mortgages `Worthwhile' (Update2)

  Bloomberg - The Fed chairman acknowledged regulators made ``mistakes'' in mortgage-market oversight and said he is working ``very hard ... Frank, a Massachusetts Democrat, yesterday unveiled a $15 billion proposal that would let the government buy loans to help ...
  2008-02-27 02:27:00

• Feeble growth projected for Georgia in 2008

  Atlanta Journal Constitution - Dhawan said that the key problem for growth remains credit — the meltdown in lending that started with subprime mortgage problems in mid-2007. Loans are the lubricant of a growing economy.
  2008-02-27 01:30:00

• Wells Fargo CEO gets 2 mln stock options

  Reuters - Results were hurt by a weak fourth quarter as more borrowers missed payments on mortgages and home equity loans. Wells Fargo is the second-largest U.S. mortgage lender.
  2008-02-27 01:23:00

• Fitch Downgrades 7 Classes of LaSalle Small Balance CMBS Securities ...

  Forbes - Fitch Ratings downgrades and assigns distressed recovery ratings to LaSalle Commercial Mortgage Securities, Inc. commercial ... The downgrades are the result of additional specially serviced loans and increased loss expectations since Fitch's last ...
  2008-02-27 01:52:00

• National City Mortgage Closing San Diego Office

  San Diego Business Journal - National City will continue to make home loans, just not through independent mortgage brokers, Kemper says. The company maintains 230 retail mortgage branches and 1,400 retail bank branches.
  2008-02-27 01:37:00

• Stocks end day mixed after early rally

  CNBC - Investors initially sent shares sharply higher as regulators allowed the mortgage companies Fannie Mae and Freddie Mac to buy more loans. Federal Reserve Chairman Ben Bernanke also lifted stocks when he told Congress the central bank will remain ...
  2008-02-27 01:30:00

• Fitch Places $97B of SF CDOs on Watch Negative on Worsening Mortgage ...

  Raleigh News & Observer - Other factors considered in the Rating Watch Negative process included the worse-than-expected and still rising level of negative credit migration of Alternative-A (Alt-A) mortgage loans.
  2008-02-27 12:47:00

• UPDATE 2-Wells Fargo: Over 200 markets face housing trouble

  Reuters - NEW YORK, Feb 27 (Reuters) - Wells Fargo & Co (WFC.N: Quote , Profile , Research ), the second-largest U.S. provider of home loans, has identified more than 200 troubled housing markets nationwide, showing how the mortgage crisis has spread beyond a ...
  2008-02-27 02:27:00

• Freddie, Fannie caps lifted

  CNBC - NEW YORK (Reuters) - The government on Wednesday lifted limits on the amount the two largest mortgage finance companies can invest in home loans, a move that could unleash billions more dollars to stabilize the housing market and fend off a possible ...
  2008-02-27 01:37:00

• Senate Dems Stick To Controversial Bankruptcy Change

  CBS News - Durbin (D-Ill.), would change the bankruptcy code to allow judges to modify primary residential mortgage loans for certain homeowners. Proponents say it could provide a last-chance way for some 600,000 families to keep their homes.
  2008-02-27 01:23:00

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