Mortgage and Financial News From 2008-1-1 Page 34

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  • Insured mortgage defaults set record high (Triangle Business Journal)

    More than 61,000 insured mortgage holders were at least 60 days late on their payments in November, the highest number ever recorded, according to statistics from the Mortgage Insurance Cos. Of America.
    2007-12-31 04:11:29

  • Nov. mortgage defaults hit high (Daily Press)

    Mortgage insurers saw defaults rise to a new monthly record in November, according to data published Monday 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, according to the Mortgage Insurance Companies of America. It was the highest monthly number since May 1999, when ...
    2008-01-01 01:18:30

  • BIZ BRIEFS: Mortgage defaults remain high (Sarasota Herald-Tribune)

    Mortgage insurers saw defaults rise to a new monthly record in November, data published by an industry trade group shows. Mortgage insurance companies such as PMI Group Inc. and MGIC Investment Corp.
    2008-01-01 01:34:47

  • Private mortgage insurance defaults reach a record (BizJournals)

    The default rate on privately insured mortgages rose in November to the highest level since records have been kept by the Mortgage Insurance Cos. of America, according to a Reuters report Monday.
    2007-12-31 10:40:46

  • Area housing market still slipping

    Miami Herald - ... extremely low interest rates set to increase within a year or two. But if easy credit helped fuel soaring home prices in recent years, sellers now must combat a national crackdown by lenders. Jeff Kaufman, a senior vice president of SunTrust Mortgage ...
    2007-12-31 11:57:00

  • IPOs on parade — except here

    Seattle Times - First Financial converted from a mutual ownership structure and went public in October, just as the national mortgage crisis was eroding the shares of many home lenders. The stock, which began trading at $11.73, closed the year at $9.84, down 16.1 ...
    2007-12-31 11:57:00

  • Awaiting the effects of the rate cut

    MyFinances.co.uk - Michael Coogan, director general of the Council of Mortgage Lenders (CML) explained, "A reduction in interest rates is exactly what the market needs and will benefit consumers, this will reduce the risk of payment shock for the 1.4 million borrowers ...
    2007-12-31 11:07:00

  • Private mortgage insurance defaults reach a record

    MSN MoneyCentral - Private mortgage insurance is required by most lenders when homeowners do not pay at least a 20 percent down payment on a loan. The insurance is paid by borrowers to ensure that the primary lender gets paid even if the loan defaults. The group's ...
    2007-12-31 02:17:00

  • Fair Isaac's new score: Hospital bill-paying

    Minneapolis 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. The new MedFICO score, being designed with the help of Minneapolis ...
    2007-12-30 03:59:00

  • Defaults on insured mortgages up 35% in Nov.

    Philadelphia Inquirer - And higher claims activity may result in some [mortgage insurance] companies' needing to raise money." Mortgage insurance compensates lenders for losses on bad loans as falling home prices make it harder for borrowers to refinance. A trade group ...
    2007-12-31 11:57:00

  • New Laws In the New Year

    WXXA - Also, there's now a mandatory pneumonia vaccination starting with children born this year. They'll need it in order to attend any child care center or nursery school. Finally, new standards are in place for mortgage lenders. They'll now have to ...
    2008-01-01 01:23:00

  • A Look Back at the Year's Winners and Losers

    Washington Post - Thanks to the meltdown of the subprime mortgage industry in 2007, mortgage lenders face new federal restrictions on their lending practices, mostly imposed by the Federal Reserve, and are likely to shoulder even more written by Congress this year. Drug ...
    2007-12-31 08:08:00

  • Colliding forces spin the markets

    Seattle Times - Mortgage lenders, not surprisingly, bore the brunt of the downturn; the sector was off 39.3 percent in the fourth quarter alone and finished the year down 50.3 percent. But even at other financial institutions, exposure — or feared exposure — to ...
    2007-12-31 11:57:00

  • NEW LAWS TAKING FLIGHT IN NEW YEAR

    New York Post - Another property-related law requires all mortgage lenders to register with the state Banking Department. It was passed in response to the subprime crisis. "You can do almost anything to the American people and they don't lift up their heads, but you ...
    2008-01-01 01:16:00

  • Survey: New year will hammer homebuilders, mortgage lenders

    MSN MoneyCentral - The housing crisis fuels the top three industries predicted to be distressed in 2008, according to a new survey. Sixty percent of respondents to the Turnaround Management Association's annual Trend Watch Poll say homebuilders will be hit with the ...
    2007-12-31 03:15:00

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