Mortgage and Financial News From 2007-10-15 Page 2

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  • S&P Downgrades $4.6 Billion of 2005 Subprime Bonds (Update1)

    Bloomberg - Many borrowers will be unable to meet their debt payments and may be unable to refinance, leading to rising delinquencies, S&P said. ``It is more about delinquencies than actual losses,'' said Robert Pollsen, an S&P subprime bond ...
    2007-10-15 03:37:00

  • Top Wall Street banks haggle over rescue plan for SIVs

    The Independent - The value of the longer-term assets collapsed when Amer-icans started defaulting on mortgage debts in record numbers, and as the short-term debt comes due over the coming months, SIVs are finding it hard to find outside investors to refinance them ...
    2007-10-15 05:03:00

  • Housing decline expected to last to 2009

    Boston Globe - Cook and Lund expressed support for legislation that aims to infuse more cash into the market and give lenders more leeway to help at-risk homeowners refinance. Some lawmakers, mostly Democrats, have been pressing regulators to allow Freddie and ...
    2007-10-15 04:49:00

  • 5:46 am

    Guardian Unlimited - Weaker home prices seen during the housing bust have made it more difficult for some subprime borrowers to refinance out of loans that offered low ``teaser'' rates but jumped to much higher rates, resulting in payment shocks. Delinquencies on these ...
    2007-10-15 08:24:00

  • Dunedin raises $60m in bonds (Stuff)

    Dunedin City Treasury, an arm of the city council's holding company, has raised $60 million in 10-year bonds to refinance debt and for general corporate purposes.
    2007-10-15 01:18:05

  • The American Dream Foreclosed

    New York Times - ... percent over the same period in 2006, according to Long Island Profiles, a real estate information ... She took an extra job to make the payments, but then decided to refinance to get a lower interest rate and reduce her mortgage payment.
    2007-10-13 05:56:00

  • What price the Rock?

    The Independent - ... torrid day for the bank, a microcosm of the blizzard of conflicting information and ... For one, it must secure a financing package of up to £30bn to refinance the £13bn ... All the published metrics suggest that it has a high-quality mortgage book ...
    2007-10-15 04:13:00

  • Fed Chair Says U.S. Housing Slump Will Be Drag on Economy

    FOX News - Yet, with the limited information seen since the central bank's September meeting ... have been forced out of business and some investors in those and related mortgage ... housing bust have made it more difficult for some subprime borrowers to refinance ...
    2007-10-15 04:56:00

  • Bernanke: Housing woes to slow growth

    BusinessWeek - Yet, with the limited information seen since the central bank's September meeting ... have been forced out of business and some investors in those and related mortgage ... housing bust have made it more difficult for some subprime borrowers to refinance ...
    2007-10-15 05:53:00

  • Tax cuts 'could put pressure on interest rates'

    News.com.au - INCREASED spending sparked by the Government's tax cuts could put upward pressure on interest rates in the medium term ... People from low income and middle income may use the tax cut to help pay for the home mortgage; however high income earners ...
    2007-10-15 06:00:00

  • Canada 2008 growth outlook cut, rates on hold

    San Diego Union-Tribune - Canada 2008 growth outlook cut, rates on hold ... comes after a credit crunch in financial markets this summer that was triggered by crisis in the U.S. subprime mortgage market
    2007-10-15 05:25:00

  • Rates set to hold during campaign

    The Australian - John Howard said yesterday he expected voters to pass judgment on the five rate rises since the last election, which have lifted standard variable mortgage rates from 7.05 per cent to 8.3 per cent. "I take responsibility for everything that adversely ...
    2007-10-15 11:27:00

  • End of easy credit points to fundamental shift for property market

    International Herald Tribune - But now much securitized mortgage debt from the United States is suspected of being worthless because of rising defaults by subprime borrowers - those with shaky credit histories - and by those whose adjustable mortgage rates just shot up. That is ...
    2007-10-15 12:10:00

  • Two Long Island residents arrested in identity theft scheme

    Newsday - Investigators discovered victims had applied for a home mortgage at the same company, but didn't take out a mortgage because rates were very high. Police searched the mortgage company, but it wasn't clear if it was involved in the scheme, and it wasn ...
    2007-10-15 05:10:00

  • Housebuilders' resilience put to the test

    Reuters UK - But analysts warn that with mortgage rates rising, buyers' confidence ebbing and banks tightening lending procedures, the outlook is darker than a couple of years ago and things could get worse for building stocks before they get better. "It's ...
    2007-10-15 05:43:00

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