Mortgage and Financial News From 2007-12-22 Page 16
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Fitch Rates Idaho Housing & Finance Association's $60MM 2007K Bonds
Forbes - ... program permits loans to be insured by the Federal Housing Administration (FHA), guaranteed by the Department of Veterans Affairs (VA) or the Rural Housing and Community Development Service (RHCD), or insured by a qualified private mortgage insurance ...
2007-12-21 02:01:00 -
Former Insurance Commissioner Seeks To Get Law License Reinstated (WDSU New Orleans)
Former Louisiana Insurance Commissioner Jim Brown, who served six months in federal prison for lying to the FBI about the settlement of state claims against a failed insurer while he was commissioner, wants his law license back.
2007-12-21 04:00:43 -
Insurers' woes could hit muni bond ratings (Los Angeles Times)
Mortgage losses may affect some firms' ability to pay claims. The financial troubles of major bond insurers are rattling the municipal bond market, where about half the bonds issued in recent years have carried private insurance -- including in California.
2007-12-22 12:13:58 -
Mortgage rules hinge on steadfast enforcement (The News & Observer)
The Federal Reserve's proposals this week to address deception and fraud in mortgage lending will all be for naught unless the states, the Fed and other federal agencies tighten their enforcement of the lending rules.
2007-12-22 12:32:19 -
First Horizon ups loan reserve
Memphis Business Journal - Georgia NAACP joins class action suit against mortgage lenders [Atlanta] Fed lowers rate based on economic 'uncertainty' [Memphis] Chamber event focuses on Memphis' future [Memphis] First Horizon National Corp. will increase its loan loss reserves in ...
2007-12-21 12:35:00 -
A vital safety valve for US lenders
Financial Times - Yet, when the mortgage securitisation markets froze this summer, the US did not see a string of embarassing failures – even though mortgage lenders such as Countrywide were flashing red on regulators’ screens. Why? Some US bankers like to ...
2007-12-20 10:27:00 -
Mortgage data points to slowdown
BBC Business - Mortgage lending dropped by 8% in November, providing more evidence of a weakening housing market, lenders said. Council of Mortgage Lenders (CML) data showed gross lending fell to £30.7bn in November, down from £33.5bn in October and £33.2bn in ...
2007-12-20 02:35:00 -
Moody's lowers GMAC's senior unsecured debt rating further into junk ...
CNBC - Like many other mortgage lenders, GMAC's Residential Capital has been hurt by rising delinquencies and defaults among borrowers. These problems have been especially prevalent among subprime mortgages _ loans given to customers with poor credit history
2007-12-21 10:26:00 -
analysts say: Higher Chinese interest rates no magnet for "hot money"
Xinhua News Agency - BEIJING, Dec. 21 (Xinhua) -- China's latest interest rate hike would have no easily quantifiable impact on the influx of so-called "hot money" as such funds would not be deposited in banks simply to earn higher rates, Dr. Ou Minggang, deputy chief ...
2007-12-21 03:09:00 -
China analysts scatter forecasts after rate rise
Reuters - BEIJING (Reuters) - China's latest interest rate rise means the central bank is at the end of its rate increase cycle. Or it means tightening is just cranking up, with more rises to come next year than initially expected. Such is the variance among ...
2007-12-20 09:54:00 -
National Briefing
Daily Herald - Fed auctions funds to commercial banks The Federal Reserve, working to combat the effects of a severe credit crunch, announced Friday it had auctioned another $20 billion in funds to commercial banks at an interest rate of 4.67 percent. Fed officials ...
2007-12-21 11:33:00 -
Chinese shares rise for third consecutive session despite interest ...
Xinhua News Agency - BEIJING, Dec. 21 (Xinhua) -- Chinese shares rose for the third day in a row on Friday, as investors shrugged off the sixth interest rate hike this year. The central bank raised the benchmark one-year deposit rate by 0.27 percentage points and the ...
2007-12-21 04:07:00 -
Market recovers 5,100 points after rate hike
China Economic Net - Chinese stocks have shrugged off the year's sixth interest rate hike as the major index gained for a third day and recaptured the 5100-point position by close of trading. The benchmark Shanghai Composite Index opened 27 points lower at 5015.19 due to ...
2007-12-21 05:57:00 -
Polish central banker Wasilewska says interest rate rise in Jan is ...
CNBC - WARSAW (Thomson Financial) - Poland's central bank is "very likely" to raise borrowing costs in January due to concerns over rising inflation, policymaker Halina Wasilewska-Trenkner said. "An interest rate hike in January is very likely," Wasilewska ...
2007-12-21 12:25:00 -
Barclays set to do battle with Bear Stearns
Daily Telegraph - ... lend Bear money in order that it might leverage the return for hedge fund investors. Barclays, acting as a leveraged counterparty, would not benefit from any increase in value in the fund, but rather its fee would come through a floating interest rate ...
2007-12-21 10:58:00