Mortgage and Financial News From 2007-9-18 Page 10

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  • Fed slashes U.S. interest rates to buffer economy (Reuters via Yahoo! News)

    The U.S. Federal Reserve on Tuesday slashed benchmark U.S. interest rates by a half-percentage point in a bold bid to buffer the economy from a housing slump and related financial market turbulence.
    2007-09-18 11:44:26

  • Fed slashes interest rates to buffer economy (Reuters via Yahoo! News)

    The Federal Reserve on Tuesday slashed U.S. interest rates by a hefty half-percentage point in a bold bid to shield the economy from a housing slump and financial turbulence, sparking a big rally on Wall Street.
    2007-09-18 04:22:12

  • Midwest homebuilder confidence lowest in U.S. (Crain's Chicago Business)

    (Crain's) - Homebuilder confidence in the Midwest is the lowest in the country, according to the National Association of Homebuilders. An index released Tuesday by the NAHB showed U.S. homebuilder sentiment fell for the seventh straight month in September, as tougher mortgage requirements ...
    2007-09-18 01:27:02

  • U.K. Inflation Rate Falls to Lowest Since March 2006 (Update2) (Bloomberg.com)

    Sept. 18 (Bloomberg) -- The U.K.'s inflation rate unexpectedly fell to the lowest since March 2006 last month, giving the Bank of England scope to reduce interest rates in response to any worsening of the credit-market rout.
    2007-09-18 03:28:37

  • U.K. Inflation Rate Falls to Lowest Since March 2006 (Update3) (Bloomberg.com)

    Sept. 18 (Bloomberg) -- The U.K.'s inflation rate unexpectedly fell last month to the lowest level since March 2006, giving the Bank of England scope to reduce interest rates in response to any worsening of the credit-market rout.
    2007-09-18 05:13:38

  • Fed cuts key rate by a half point to buffer economy

    International Herald Tribune - The Fed's course change has been under way since early August, when fears about huge losses on subprime mortgage loans and continued downturn in housing caused a much broader panic in credit markets. The resulting credit crunch has now affected all ...
    2007-09-18 02:29:00

  • E*Trade Rallies Past Mortgage Mess

    Forbes - The "deterioration in the mortgage market" forced the company to put aside $245 million for bad loans in the second half of 2007. Meanwhile, the company also expects to earmark another $100 million in the second half to address the devaluation of ...
    2007-09-18 03:12:00

  • UK mortgage market is Europe's largest, with housing prices that have ...

    CNBC - Council of Mortgage Lenders. While estimates for adjustable loans in the U.S. vary, Keith Gumbinger, vice president of HSH Associates, a consumer loan research firm, said about 35 percent of U.S. mortgages have some kind of variable rate _ from those ...
    2007-09-18 01:46:00

  • Bankrupt AHM says SEC is investigating it

    Newsday - He said the current situation included outstanding litigation that he deemed "normal" and a portfolio of mortgage loans and other financial assets that are "almost all encumbered" with liens that would allow more recent lenders to capture their ...
    2007-09-18 11:52:00

  • Helping savers and attending to credit risk

    Financial Times - Securitisation has pushed small savers to the back of the queue: while those Northern Rock customers were standing in the street outside, many of the bank’s mortgage loans were already pledged to wholesale lenders. And banking supervision is ...
    2007-09-18 02:22:00

  • UPDATE 1-Accredited Home posts big loss; survival in doubt

    Reuters - Accredited said quarterly net revenue totaled negative $134.6 million, including a $178.9 million loss from the sale of mortgage loans. Earlier this month, San Diego-based Accredited closed much of its lending operations, eliminating 1,600 of ...
    2007-09-18 02:08:00

  • House moves to expand mortgage help

    MSNBC - House moves to expand mortgage protection FHA could back refinanced loans for borrowers delinquent on payments ... WASHINGTON - Looking to help homeowners avoid foreclosure, the Democratic-controlled House on ...
    2007-09-18 03:33:00

  • Financial Plus Federal Credit Union Upgrades to FICS' Full Suite of ...

    Forbes - The credit union required a mortgage system that could handle a growing portfolio of mortgage loans, as well as handle selling loans to the secondary market and work efficiently with Fannie Mae's Desktop Underwriter. "When we began our search for a ...
    2007-09-18 09:28:00

  • Northern Rock crisis: avoidable or inevitable?

    Times Online - Sir, Old-fashioned building society practice is the very essence of “borrowing short to lend long” ( letters, Sept 18 ). On demand deposits from savers were used to finance long-term (20 years plus) mortgage loans. It worked because depositors ...
    2007-09-18 03:12:00

  • Impac Exits Alt-A Market, Cuts 144 Jobs

    CNBC - Mortgage lender Impac said it is cutting 144 jobs and completely exiting the alt-A lending market as the mortgage landscape continues to deteriorate. Nearly all loans Impac originated before the market troubles began were alt-A mortgages. Alt-A ...
    2007-09-18 01:39:00

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