Mortgage and Financial News From 2008-2-13 Page 10

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• UPDATE: MGIC Seeks Capital Boost As Mortgage Crisis Spawns Losses - CNNMoney.com

  UPDATE: MGIC Seeks Capital Boost As Mortgage Crisis Spawns LossesCNNMoney.com - 55 minutes agoMortgage lenders may have made riskier loans in recent years because they knew that after they sell the assets on to other investors in a securitization, ...
  2008-02-13 09:32:15

• Paulson, Testifying With Bernanke, Foreshadows New Loan Rules - Bloomberg

  Paulson, Testifying With Bernanke, Foreshadows New Loan RulesBloomberg - 53 minutes agoThe process magnified losses on subprime mortgage-linked securities because it reduced the incentive for lenders to ensure that borrowers could repay their ...
  2008-02-13 09:34:48

• Forgoing foreclosure - Knoxville News Sentinel

  Forgoing foreclosureKnoxville News Sentinel, TN - 48 minutes agon A deteriorating housing market means people who are unable to make payments can't sell their home to get out from under the mortgage. ...
  2008-02-13 09:39:25

• Housing sales hit 20-year low - Long Beach Press-Telegram

  Housing sales hit 20-year lowLong Beach Press-Telegram, CA - 48 minutes ago"Even though mortgage rates are still so low, it's hard for people to get loans," he said. "The lenders are extremely risk averse. ...
  2008-02-13 09:39:40

• City moves to acquire foreclosed properties - Boston Globe

  City moves to acquire foreclosed propertiesBoston Globe, United States - 46 minutes agoMenino met with several of the largest mortgage companies last month. The meeting produced a draft agreement in which the lenders pledged to improve ...
  2008-02-13 09:41:22

• Morgan Stanley cuts 1000 jobs - Boston Globe

  Morgan Stanley cuts 1000 jobsBoston Globe, United States - 46 minutes ago... Co. to set up units making home loans to UK borrowers and packaging them into securities. The bank also bought mortgage lenders in Italy and Russia. ...
  2008-02-13 09:41:23

• Builder arrested in pot scheme - Palm Beach Post

  Builder arrested in pot schemePalm Beach Post,  United States - 46 minutes agoWhen lenders called to verify that mortgage applicants, whom the family had recruited as farmers, did in fact work for Global Home Builders Inc., ...
  2008-02-13 09:41:52

• District a shining example of promised 'change' By Tom Knott - Washington Times

  District a shining example of promised 'change' By Tom KnottWashington Times, DC - 40 minutes ago... just as everyone should have the right to a home-mortgage bailout. It is just not fair that a "predatory" lender talked you into buying a house that you ...
  2008-02-13 09:47:38

• SB County median home values dive under $300000, DataQuick reports - Press-Enterprise

  SB County median home values dive under $300000, DataQuick reportsPress-Enterprise, CA - 39 minutes agoBut the FHA, unlike the subprime lenders, will demand proof that the borrowers can afford their mortgages, he added. "I think we are on the slow road to ...
  2008-02-13 09:48:13

• California home prices still unaffordable - San Francisco Chronicle

  California home prices still unaffordableSan Francisco Chronicle,  USA - 33 minutes agoMore than half of homeowners with a mortgage exceed that level in California, according to a 2006 survey by the US Census Bureau. The lack of affordability ...
  2008-02-13 09:54:11

• On the brink of foreclosure? - Bradenton Herald

  On the brink of foreclosure?Bradenton Herald,  United States - 25 minutes agoSome lenders who took adjustable-rate mortgages found themselves unable to meet their mortgage payment when their rate adjusted upward.
  2008-02-13 10:02:40

• Credit group takes on HOPE - Pioneer Press

  Credit group takes on HOPEPioneer Press, MN - 24 minutes agoHPF was founded by Bruce Paradis, former chief executive of Residential Capital, the troubled mortgage lender in Bloomington that's part of GMAC in Detroit. ...
  2008-02-13 10:03:24

• Project Lifeline may be reprieve - commercialappeal.com (subscription)

  Project Lifeline may be reprievecommercialappeal.com (subscription), TN - 21 minutes agoLenders lose money when, for example, they take a home with a $100000 mortgage on it, which is worth $80000 on the market. But a couple of aspects of ...
  2008-02-13 10:06:41

• Business briefs - Long Beach Press-Telegram

  Business briefsLong Beach Press-Telegram, CA - 15 minutes agoThe New York-based company said it will close its UK business that issues home loans and scale back its US mortgage business. The company and hundreds of ...
  2008-02-13 10:12:20

• Hope in avoiding foreclosure - DetNews.com

  Hope in avoiding foreclosureDetNews.com, MI - 12 minutes agoShe works part time in between home-schooling two of their three children. Together, the couple save everything they can to pay their $841 mortgage, ...
  2008-02-13 10:15:11

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