Mortgage and Financial News From 2007-10-15 Page 21
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New strategies for college help
Chicago Sun-Times - ... aid available to the poorest students, as well as to lower interest rates for some ... Pell grants made to the lowest income students increase from $4,310 in 2007 to $5 ... graduate with huge debt burdens -- larger than their parents' original mortgage. As a ...
2007-10-15 01:47:00 -
Subprime mortgage industry meltdown (Bankrate.com)
As the federal government reviews ways to avoid future problems in subprime lending, one thing is clear: There's plenty of blame to go around for today's woes.
2007-10-15 05:27:27 -
Euro rates ease further as U.S. banks prepare bail-out (Reuters via Yahoo! UK & Ireland News)
Euro zone lending rates marked fresh two-month lows on Monday as money markets stabilised further on the day a trio of top U.S. investment banks joined forces to prop up the battered commercial paper market.
2007-10-15 07:16:00 -
Dai-ichi Life to Boost Investment in Japanese Bonds (Update1)
Bloomberg - Top-rated securities backed by mortgage loans sold by Japan Housing Finance Agency in September offered a 2.13 percent coupon. That's 43 basis points more than the 1.7 percent coupon on benchmark 10-year government bonds. A basis point is 0.01 ...
2007-10-15 02:37:00 -
Lake City Bank Reports Performance
MSN MoneyCentral - ... Total cash and cash equivalents 42,204 119,699 Securities available for sale (carried at fair value) 321,163 296,191 Real estate mortgage loans held for sale 875 2,175 ...
2007-10-15 03:56:00 -
Lender Lead Solutions Introduces Equity Plus Advantage Reverse Loan ...
Consumer Electronics Net - The addition of the product expands upon the company's existing line of Home Equity Conversion Mortgage (HECM) loans and pricing options through its Flex-Margin Advantage(TM) program. With Equity Plus Advantage, seniors with higher home values are ...
2007-10-15 06:33:00 -
Japan's Nomura to exit US residential mortgage-backed securities ...
Forbes - TOKYO (Thomson Financial) - Japan's Nomura Holdings Inc said Monday it will exit the residential mortgage-backed securities (RMBS) market in the US in view of ballooning losses stemming from US subprime home loans. Japan's biggest brokerage also said ...
2007-10-15 03:41:00 -
Sugar Creek bank bucks trend on mortgage loans
Kansas City Star - “The slump in the market opened a door of opportunity for us to grow and expand,” said Michael Thomson, co-CEO of American Sterling Bank. A bank in Sugar Creek has rushed into the nation’s crumbling mortgage market as others have fled. By ...
2007-10-12 05:57:00 -
UPDATE 4-Nomura to exit U.S. residential mortgage securities
Reuters - Nomura is the latest global investment bank forced to swallow bigger losses on products tied to to U.S. mortgage market, which was thrown into turmoil this year by rising defaults on subprime home loans. It now expects to post a group pretax ...
2007-10-15 04:39:00 -
Rock plunges as it confirms talks
Financial Times - ... the bank had to turn to the Bank of England to remain solvent. The MPs are expected to concentrate on the Newcastle-based bank’s practice of using short-term money raised in wholesale markets to balance its books against longer term mortgage loans.
2007-10-15 01:40:00 -
One of the Nation's Largest Insurance Providers Teams With 3t Systems ...
Forbes - The banking operation offers a full range of consumer products including deposit and small business products, credit cards, mortgage, home equity and vehicle loans. 3t Systems and Mortgage Cadence's suite of products have empowered the organization by ...
2007-10-15 02:58:00 -
Mortgage rejections climb 60 per cent
Times Online - The number of rejected mortgage applications has increased by 60 per cent in the past six months. More than 738,000 home loans were turned down by mortgage firms since March as banks and building societies enforce stricter lending conditions ...
2007-10-15 05:00:00 -
How a Bed-Ridden Maryland Mortgage Broker Effortlessly Raked in $48 ...
Forbes - In spite of the current loss of available credit from sub-prime lenders, sub-prime borrowers can still get financing through the very same 'sub-prime' mortgage loan officers they've always relied upon! Via FHA loans!" "This whole 'credit crunch' is ...
2007-10-15 04:53:00 -
UPDATE 1-HSBC says has not joined talks for US mortgage fund
Reuters - London-based HSBC's charge for bad debt was US$6.35 billion in the first half of the year, up 63 percent from the US$3.89 billion hit it took a year earlier, as it suffered from loans to the hard-hit U.S. subprime mortgage sector. In September, HSBC ...
2007-10-15 05:14:00 -
Nomura to shutter U.S. mortgage business
BusinessWeek - Nomura's woes follow a string of losses at major U.S. and European banks from exposure to risky loans made to individuals with poor credit histories. Mortgage-backed securities are created by bundling together these home loans and repackaging them as ...
2007-10-15 05:29:00