Mortgage and Financial News From 2007-9-18

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  • Acting Banking Secretary Urges Lawmakers to Act Swiftly on Mortgage ...

    Forbes - ... of Banking Steve Kaplan told lawmakers today that Pennsylvania needs better laws to protect consumers from abusive mortgage ... Kaplan testified before the Senate Banking and Insurance Committee this morning on four bills that would allow the Department ...
    2007-09-18 06:58:00
  • Sony Scales Back Insurance IPO Amid Credit Turmoil (Update3)

    Bloomberg - Sept. 18 (Bloomberg) -- Sony Corp. scaled back the proposed size of its insurance unit's initial public offering, the biggest in Japan this year, after U.S. subprime mortgage defaults roiled global financial stocks. Shares of Sony Financial Holdings ...
    2007-09-18 02:26:00
  • Northern Rock, Rivals' Shares Rise on State Guarantee (Update4)

    Bloomberg - Federal Deposit Insurance Corp. insures deposits worth as much as $100,000. Northern Rock had 800,000 mortgage customers and made 17.4 billion pounds of home loans in the first half, up 37 percent from a year earlier. 125% Mortgages ...
    2007-09-18 08:10:00
  • Don't Bet the Ranch

    Smart Money - WITH $4.1 BILLION in net worth as of June 30, the mortgage-insurance company Radian Group ( RDN ) might have seemed cushioned from the mayhem unleashed by the unfolding deterioration in the U.S. residential mortgage market. But it hasn't turned out ...
    2007-09-18 09:50:00
  • Merrill Lynch, Abbey National mortgage loans jv cleared by EU

    Forbes - The venture will focus on the provision of non-conforming mortgage loans in the UK and the intermediation of insurance related products for these loans. nina.chestney@thomson.com nc/ms1 COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights ...
    2007-09-18 03:38:00
  • Newly Launched LoanInsights, Inc. Revolutionizes Mortgage Process ...

    Market Wire - The LoanInsights web-based platform generates a combination of loan results, allowing homebuyers to avoid paying mortgage insurance and thus reducing monthly payments. The loans are displayed in the optimal combination, regardless of whether they ...
    2007-09-18 04:56:00
  • BancorpSouth's Lindsey Named One of Banking's Most Innovative CIOs

    Forbes - Headquartered in Tupelo, Mississippi, BancorpSouth, Inc., is a $13.2 billion financial holding company that operates 290 commercial banking, mortgage, insurance, trust and broker/dealer locations in Alabama, Arkansas, Florida, Louisiana, Mississippi ...
    2007-09-18 08:45:00
  • House considers bill expanding government backing of mortgage loans

    Forbes - It also includes language that would prevent mortgage insurance premiums from rising unless an increase were needed to cover the cost of claims. The bill would also allow FHA to back pricier loans in states like California, New York and Massachusetts ...
    2007-09-18 08:31:00
  • House Pushing Mortgage Insurance Plan

    CBS News - (AP) Looking to help homeowners avoid foreclosure, the Democratic-controlled House wants to insure mortgages and provide affordable housing grants well beyond limits favored by the Bush administration. The House bill would allow the Federal Housing ...
    2007-09-18 10:04:00
  • Merrill Lynch, Abbey National mortgage loans jv cleared by EU (Sharewatch)

    BRUSSELS (Thomson Financial) - The European Commission said it has cleared Merrill Lynch & Co Inc and Banco Santander Central Hispano unit Abbey National's proposed joint venture in mortgage loans services.
    2007-09-18 02:32:36
  • Credit cards hide mortgage pressures (The Australian)

    THE number of households in severe mortgage stress will balloon by more than half by next June, because the depth of the problem is masked by desperate borrowers obtaining new credit cards to free up money to make home loan repayments.
    2007-09-18 07:00:00
  • British mortgage banks gain as government pledges support (Market Watch)

    LONDON (MarketWatch) -- A pledge by the British government to stand behind troubled mortgage lender Northern Rock helped restore confidence in the shares of London-listed mortgage banks on Tuesday, with the broader market also moving higher.
    2007-09-18 02:03:44
  • House pushing mortgage insurance plan (AP via Yahoo! News)

    Looking to help homeowners avoid foreclosure, the Democratic-controlled House wants to insure mortgages and provide affordable housing grants well beyond limits favored by the Bush administration.
    2007-09-18 08:44:24
  • Sony Reduces Insurance Unit IPO to 320 Billion Yen (Update2) (Bloomberg.com)

    Sept. 18 (Bloomberg) -- Sony Corp. cut the size of its insurance unit's initial public offering, the biggest in Japan this year, after U.S. subprime mortgage defaults roiled global financial stocks.
    2007-09-18 12:32:15
  • Sony Scales Back Insurance IPO Amid Credit Turmoil (Update3) (Bloomberg.com)

    Sept. 18 (Bloomberg) -- Sony Corp. scaled back the proposed size of its insurance unit's initial public offering, the biggest in Japan this year, after U.S. subprime mortgage defaults roiled global financial stocks.
    2007-09-18 02:34:17