Mortgage and Financial News From 2008-2-13

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• New foreclosure plan not cure-all: FDIC chief

  Washington Post - Primary and second lien mortgages and home equity loans provided to subprime borrowers with poor credit histories, as well as more credit worthy borrowers, will be considered, according to the banks. The plan does not apply to loans in active ...
  2008-02-13 01:18:00

• Buy-to-let just 'a rich man's game'

  Daily Telegraph - Buy-to-let property investment is becoming "a rich man's game" with little space for the amateur speculator, the head of Britain's largest provider of second-home mortgages said yesterday. Buy-to-let now accounts for 12pc of gross mortgage advances ...
  2008-02-13 03:56:00

• Democrats Slam Subprime ‘Project Lifeline’ as Too Little, Too Late - CQPolitics.com

  Democrats Slam Subprime ‘Project Lifeline’ as Too Little, Too LateCQPolitics.com, DC - 4 hours agoDodd has suggested setting up a government-sponsored company to buy distressed mortgages or mortgage debt and work the mortgages into more-affordable loans. ...
  2008-02-13 02:06:00

• Op-Ed: Opportunity Knocks in 2008 - RisMedia.com (press release)

  Op-Ed: Opportunity Knocks in 2008RisMedia.com (press release), CT - 4 hours agoOne reason for the pull-back is the removal of speculators from the marketplace and the virtual disappearance of subprime mortgages by late 2007. ...
  2008-02-13 02:15:28

• AMP reports below par $985m profit - The Age

  AMP reports below par $985m profitThe Age, Australia - 4 hours agoAMP said in a statement that its balance sheet was strong, with a low level of gearing, and it had no direct exposure to subprime mortgages. ...
  2008-02-13 02:42:25

• AMP Profit Rises 8% as Pension Savings Increase Funds (Update2) - Bloomberg

  AMP Profit Rises 8% as Pension Savings Increase Funds (Update2)Bloomberg - 3 hours agoAMP's shares have slumped 25 percent this year amid declines in stock markets sparked by defaults on US subprime mortgages. ...
  2008-02-13 03:07:28

• Judicial Branch says it desperately needs more marshals, staff - Stamford Advocate

  Judicial Branch says it desperately needs more marshals, staffStamford Advocate, CT - 3 hours ago... an attorney, said lawmakers realize that the mortgage meltdown will likely have financial ramifications on the state as they craft changes to the second ...
  2008-02-13 03:11:40

• KOSPI Called For Positive Trade [] - RTT News

  KOSPI Called For Positive Trade []RTT News, NY - 3 hours agoThere are also provisions to make more expensive mortgages available through the Federal Housing Administration and government-sponsored enterprises. ...
  2008-02-13 03:28:35

• Buy-to-let just 'a rich man's game' - Telegraph.co.uk

  Buy-to-let just 'a rich man's game'Telegraph.co.uk, United Kingdom - 2 hours ago... "a rich man's game" with little space for the amateur speculator, the head of Britain's largest provider of second-home mortgages said yesterday. ...
  2008-02-13 04:04:37

• County Extension Service to offer estate planning workshop - South Alabamian

  County Extension Service to offer estate planning workshopSouth Alabamian, AL - 2 hours agoOn the second evening, they will cover reverse mortgages in estate planning and the various types of trusts. Some Medicaid law will also be discussed in ...
  2008-02-13 04:25:28

• Tax rebate checks just short-term boost, economists say - Chicago Tribune

  Tax rebate checks just short-term boost, economists sayChicago Tribune, United States - 2 hours agoThe payout, placing some $100 billion mostly in the hands of middle- and lower-income taxpayers, should modestly boost the nation's economy in the second ...
  2008-02-13 04:48:48

• AMP Drops After Chief Executive Warns of `Challenging Market' - Bloomberg

  AMP Drops After Chief Executive Warns of `Challenging Market'Bloomberg - 1 hour ago31 as defaults on US subprime mortgages sparked declines in stock markets. The shares dropped after Craig Dunn, reporting earnings for the first time since ...
  2008-02-13 05:07:53

• Helena attorney running for US House - Queen City News

  Helena attorney running for US HouseQueen City News, MT - 1 hour agoHe blames the nation’s current economic downturn on Rehberg’s consistent support for misguided policies that resulted in failed mortgages, provided tax cuts ...
  2008-02-13 05:22:52

• Tax rebate checks just short-term boost, economists say (Chicago Tribune)

  WASHINGTON — Even as President Bush signed a $168 billion stimulus bill Wednesday, kicking off the process of sending billions of dollars in rebates to American taxpayers, economists predicted the move will provide only a short-term boost for the struggling economy.
  2008-02-13 04:59:21

• AMP Drops After Chief Executive Warns of `Challenging Market' (Bloomberg.com)

  Feb. 14 (Bloomberg) -- AMP Ltd., the biggest provider of pension plans in Australia, said investors may refrain from putting cash into managed funds as they shun ``volatile'' financial markets.
  2008-02-13 05:09:50

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