Mortgage and Financial News From 2008-1-1 Page 28

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  • Prepare for a global economic downturn but not a disaster

    Stockhouse Canada - There are many other parts of the credit market that were subject to hype similar to that of subprime mortgages, for example ... This time many of those mechanisms work in reverse. The housing markets in the US and several other economies are headed for ...
    2008-01-01 11:10:00

  • Sub-prime problem not as big as made out to be

    Business Standard - ... linked to subprime mortgages ... Second, most subprime borrowers aren’t going to default. Suppose even one in four does and lenders recover somewhat more than half the mortgage amount. A fourth of $1.3 trillion in subprime mortgages is $325 billion ...
    2008-01-01 11:39:00

  • Defaults on insured mortgages hit record level

    MSN MoneyCentral - The pace of defaults on privately insured mortgages soared almost 35 percent, reaching the highest level since the data was ... as a popular practice to avoid mortgage insurance fell out of favor. During the bubble, lenders often extended a second ...
    2007-12-31 02:17:00

  • PHH Scraps Sale to GE, Blackstone After Lenders Balk (Update3)

    Bloomberg - ... Inc. and Affiliated Computer Services Inc. collapsed in 2007, after losses from securities tied to subprime mortgages cut ... Leveraged buyouts declined to $203.4 billion in the second half from $583.7 billion in the first six months as the subprime ...
    2008-01-01 11:17:00

  • New laws of 2008 affect taxes, borrowing, vaccines, bingo (The Post-Standard)

    Albany It just got harder for New Yorkers to get stuck with unaffordable mortgages and to be trapped in waylaid planes on tarmacs. It's also now easier for some to pay their property taxes and for people to play bingo without facing a misdemeanor charge.
    2008-01-01 02:11:05

  • Existing home sales post increase (Daily Press)

    The annualized pace of 5 million units in November is the second-lowest since 1999. Sales of previously owned homes nudged up in November, but that didn't improve the broader picture of a feeble housing market racked by record-high foreclosures and harder-to-get credit.
    2008-01-01 08:48:08

  • Defaults on mortgages reach record (Winston-Salem Journal)

    WASHINGTON Mortgage insurers saw defaults rise to a new monthly record in November, according to data published yesterday by an industry trade group. Defaults, defined as loans 60 or more days late, rose in November to more than 61,000 industrywide - up 35 percent from the same month a year earlier - the Mortgage Insurance Cos. of America said. It was the highest monthly number since May 1999, ...
    2008-01-01 12:12:46

  • U.S. subprime fiasco derails corporate bonds in the second half (The Globe and Mail)

    The Canadian bond market was caught up in the U.S. subprime mortgage fiasco in the second half of 2007, and in the bond world that meant terrible returns for investors in corporate bonds, but good news for holders of government securities.
    2008-01-01 12:20:21

  • 2007 market is a tale of up and down times

    Detroit News - It not only burst but flooded Wall Street in red ink, prompting two interest rates cuts just to keep the global capital ... besides keeping your investments fully diversified, the only approach is to expect the unexpected. While oil and the mortgage ...
    2008-01-01 08:47:00

  • News Minute: Huckabee looks back on decision...Floats and planes ...

    WDAM-TV - Food & Nutrition Exercise For Women Only Horoscopes Aries Taurus Gemini Cancer Leo Virgo ... Stocks post final loss of the year...Oil prices slip...Mortgage defaults hit record ... Associated Press - January 1, 2008 12:03 PM ET SERGEANT BLUFF, Iowa (AP) - Mike ...
    2008-01-01 06:38:00

  • Adult's holiday deflated by 'children-only' gift rule (The Record)

    Q. I'm responding to a letter in your column from "Christmas Grinch," the childless aunt who was upset because her sister declared that their gift exchange would now be "children only."
    2008-01-01 01:14:40

  • Fair Isaac's new score: Hospital bill-paying (Minneapolis-St. Paul Star Tribune)

    DALLAS - Mortgage lenders aren't the only ones showing more interest in your credit score these days -- the health industry is creating its own score to judge your ability to pay.
    2007-12-31 08:46:39

  • Wall Street Journal errs on M&I dividend

    Milwaukee Journal Sentinel - Make Us Your Home Page | Subscriptions ... MGIC's "performance trends continue to be negatively impacted by issues within the residential mortgage markets, and expect higher delinquency rates ...
    2007-12-31 10:36:00

  • Legg Mason pays up to protect SIVs

    The Washington Times - Travel Civil War Obituaries Friday Home Guide Auto Weekend Employment Tourist Guide ... commercial paper market to invest in longer-dated securities ranging from mortgage ... debt, some backed by subprime mortgages, which are defaulting at record rates ...
    2008-01-01 10:06:00

  • Home sales nudge up, but little reason to celebrate

    Orlando Sentinel - A dip in 30-year mortgage rates in November probably helped give nationwide existing-home sales the small boost last month, the association suggested. Yun thought the small increase could be taken as a sign that the market might be stabilizing. More ...
    2008-01-01 09:01:00

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