Mortgage and Financial News From 2008-1-30 Page 23

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• Pressure for new rate cut as mortgage loans plunge

  Daily Mail - The Bank of England is under "intense pressure" to cut interest rates next week as further evidence emerged of a major meltdown in the UK's mortgage market. And the clamour increased when the U.S. Federal Reserve cut interest rates last night by 0.5 ...
  2008-01-30 02:25:00

• Immigrants hit hard by slowdown, subprime crisis

  Reuters - And almost half of the mortgage loans in the hands of Hispanics are subprime, making them especially vulnerable to the housing downturn. "Economic conditions are deteriorating and many immigrants now can't work those extra hours or find that second ...
  2008-01-30 01:28:00

• Mortgage-related bank losses to top $265-billion: S&P

  Globe and Mail - Credit rating agency also is considering slashing ratings on more than $500-billion of investments tied to bad mortgage loans ... Read the full article Please let us know if this reader’s comment breaks the editor's rules and is obscene, abusive ...
  2008-01-30 03:36:00

• Commercial mortgage market faces shortfall

  Globe and Mail - A form of bond comprised of commercial mortgage loans that are packaged and sold to investors, CMBS issuance went from $200-million in 1998 to $4.8-billion in 2006. That came to an abrupt halt late last year, when defaults on subprime mortgages in ...
  2008-01-30 03:58:00

• Fitch Affirms 30 Classes from 5 Merrill Lynch Mortgage Investor Trusts

  Forbes - The underlying collateral for the above transactions consist primarily of fixed- and adjustable-rate, conventional, fully amortizing, first lien residential mortgage loans extended to Prime and Alt-A borrowers. The mortgage loans were either ...
  2008-01-30 02:03:00

• US: S and P considers downgrading more than US$500 billion in ...

  MSN UK News - Standard and Poor's Ratings Services is considering slashing its rating on more than US$500 billion (euro337.6 billion) of investments tied to bad mortgage loans, the ratings agency said Wednesday. The massive downgrade would threaten a broad swath ...
  2008-01-30 02:53:00

• S&P Mulls $500B in Mortgage Downgrades

  Newsday - NEW YORK - Standard & Poor's Ratings Services is considering slashing its rating on more than $500 billion of investments tied to bad mortgage loans, the ratings agency said Wednesday. The massive downgrade would threaten a broad swath of the world's ...
  2008-01-30 03:44:00

• FBI mortgage fraud probes triple - Newsday

  FBI mortgage fraud probes tripleNewsday, NY - 56 minutes agoMany of those investigations involve traditional mortgage-type frauds where the creditworthiness of the mortgage-loan applicants is exaggerated by ...
  2008-01-30 04:24:13

• S&P cuts, may cut up to $534 billion of subprime bonds - Reuters

  S&P cuts, may cut up to $534 billion of subprime bondsReuters - 56 minutes agoThe ratings action affects 6389 classes of US residential mortgage-backed securities backed by first-lien subprime loans and 1953 ratings from 572 global ...
  2008-01-30 04:24:30

• Housing slump catches up to Charlotte - Charlotte Observer

  Housing slump catches up to CharlotteCharlotte Observer, NC - 52 minutes ago"We know people are having a hard time getting loans, and the economy is so bad," she said. And they're competing with all the new houses around. ...
  2008-01-30 04:28:26

• FBI in 'high-firepower' inquiry over subprime crisis - Scotsman

  FBI in 'high-firepower' inquiry over subprime crisisScotsman, United Kingdom - 51 minutes agoBy KEVIN DRAWBAUGH AN FBI criminal investigation into the subprime mortgage crisis in the United States was last night hailed as "high-firepower" by one ...
  2008-01-30 04:29:37

• Quaint Oak Bancorp, Inc. Announces Fourth Quarter and Year-End ... - Primenewswire (press release)

  Quaint Oak Bancorp, Inc. Announces Fourth Quarter and Year-End ...Primenewswire (press release), CA - 43 minutes ago... in the residential mortgage one-to-four family non-owner occupied category, which grew $4.0 million or 33.5%, and in commercial real estate loans which ...
  2008-01-30 04:37:45

• Slow the land rush to fire zones - Marketplace

  Slow the land rush to fire zonesMarketplace, CA - 41 minutes agoWe make loans and grants to developers in dangerous places, pick up the tab for federal mortgage insurance on buildings set in fire traps, then pay for the ...
  2008-01-30 04:39:44

• Bill to stem foreclosures fails in state Senate - Los Angeles Times

  Bill to stem foreclosures fails in state SenateLos Angeles Times, CA - 37 minutes ago... have required mortgage servicers to try to confer with borrowers, either in person or on the telephone, in an attempt to modify loans so people could ...
  2008-01-30 04:43:28

• Pushing the limit - Seattle Post Intelligencer

  Pushing the limitSeattle Post Intelligencer - 32 minutes agoTo recap, the conforming loan limit is the maximum loan government-backed mortgage giants Fannie Mae and Freddie Mac may buy. "Jumbo" loans above the cap ...
  2008-01-30 04:48:12

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