Mortgage and Financial News From 2008-2-14 Page 57
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What is affordable? (Cadillac News)
Betty and Neal Finney live comfortably at Kirtland Terrace. Not only do they live near a lot closer to stores and doctor offices than when they lived in Tustin, but they have many friends right down the hall from them.
2008-02-14 05:15:40 -
UBS won't support failing auction-rate securities (The Star-Ledger)
UBS AG won't buy auction-rate securities that fail to attract enough bidders , joining a growing number of dealers stepping back from the $300 billion market, said a person with direct knowledge of the situation.
2008-02-14 05:36:05 -
Local & State Headlines (The Albany Herald)
ALBANY — Albany Realtors and home builders are joining their efforts in a bid to educate the public about buying a home this year.
2008-02-14 05:38:55 -
Home selling prices keeping taxes propped (The Vicksburg Post)
It's possible that a decline in a home's selling price could lead to a lower assessment and property taxes, but that's not what's happening in Warren County.
2008-02-14 06:25:30 -
UBS Won't Support Failing Auction-Rate Securities (Update3) (Bloomberg.com)
Feb. 14 (Bloomberg) -- UBS AG won't buy auction-rate securities that fail to attract enough bidders, joining a growing number of dealers stepping back from the $300 billion market, said a person with direct knowledge of the situation.
2008-02-14 06:47:28 -
BofA boss defends mortgage securities practice
MSNBC - Those products included collateralized debt obligations, a complex security often backed by subprime mortgage loans — or those given to customers with poor credit histories. Banks and others fell into a "follow-the-leader" exercise, Lewis said, in ...
2008-02-12 03:57:00 -
Oxford Funding Hedge Fund Featured in Houston Business Journal
Forbes - ... squeeze continues to widen, banks and lending firms have divested millions of dollars worth of their debt holdings and created opportunities for OXFD to scour the market for the best performing mortgage notes. Oxford has been scooping up these loans ...
2008-02-14 05:32:00 -
MBIA Says It Can Weather Slump, Doesn't Need Bailout (Update2)
Bloomberg - CDOs repackage assets such as mortgage bonds and buyout loans into new securities with varying risk. As the value of some CDOs plummet, ratings companies are pressing the insurers to add more capital. MBIA last month reported a fourth ...
2008-02-14 05:46:00 -
Bad Loans, Bad Banks, Bad Bush
Washington Post - Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. Some were misrepresenting the terms of loans, making loans without ...
2008-02-13 08:49:00 -
Freddie Mac Adjusts PMI Eligibility
Forbes - Freddie Mac said the new rules restrict how much risk insurers can lay off to lenders via complex arrangements where lenders and insurers share risk on pools of loans bundled under separate trusts. The new rules will keep mortgage insurers from ...
2008-02-14 05:32:00 -
Stock futures moderately higher ahead of unemployment reading ...
CNBC - The Wall Street Journal reported Thursday that some banks are floating proposals before members of Congress that would have the federal government assume some of the risk from troubled loans. In other corporate news, federal regulators sued Cephalon ...
2008-02-14 04:20:00 -
Paulson Foreshadows Proposals to Tighten Loan Rules (Update1)
Bloomberg - His bill includes a provision to hold mortgage-bond investors responsible for loans that violate the law. Similar legislation passed by the House in November would hold companies that sell mortgage-backed securities responsible for bad ...
2008-02-14 05:46:00 -
Hope Now: When loan workouts don't work out
CNN Money - The second category are true mortgage modifications, which involve rewriting the loans to lower interest rates or slash balances. Often, an ARM's interest rate is frozen so that it doesn't reset higher. Neither approach is working well, says Marks ...
2008-02-14 05:32:00 -
Marriott International Reports Solid Fourth Quarter Results
MSN MoneyCentral - ... 60 million for maintenance capital spending, $525 million to $575 million for capital expenditures and acquisitions, $175 million to $200 million for timeshare development, $15 million to $25 million in new mezzanine financing and mortgage loans ...
2008-02-14 03:30:00 -
UBS, Hit by Mortgage Risk, Sees Hard Year Ahead
CNBC - Swiss bank UBS has revealed $26.6 billion in exposure to risky U.S. mortgages distinct from subprime loans, increasing its vulnerability to the global credit crisis and sending its shares sharply lower. Shares in the bank, which declined to say if it ...
2008-02-14 04:27:00
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