Mortgage and Financial News From 2007-11-20 Page 11

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• Bank of Canada still wary of inflation, Duguay says

  Globe and Mail - Duguay offered no indication the bank will reduce interest rates in its next ... disorder in debt markets, provoked by the collapse of the U.S. high-risk mortgage ... Buyers of barred cars can drive home, but no farther 1:23 AM 120 2. Loonie nibbles ...
  2007-11-20 11:03:00

• Stocks Sink After Fed Minutes Release

  Newsday - Home Delivery ... meeting gave investors little hope that the central bank will lower interest rates ... in the financial sector, because of the bad bets they made on mortgages and mortgage ...
  2007-11-20 12:14:00

• Stocks End Higher After Seesaw Day

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... volatile session mostly higher Tuesday after investors, still jittery about mortgage ... their Oct. 30-31 meeting, Fed policy makers said their decision to lower rates for ...
  2007-11-20 01:33:00

• Dollar Declines to Record Low Versus Euro, Swiss Franc on Rates

  Bloomberg - ... gained on speculation a group of six Arab nations will change their fixed exchange rates from the U.S. currency. Freddie Mac, the second-largest mortgage ... Exxon Mobil Gains U.S. Building Permits Fall to Lowest Since 1993; Single-Home ...
  2007-11-20 08:18:00

• Freddie Mac shares dive as mortgage giant's losses mount (AFP via Yahoo! News)

  Shares in Freddie Mac, one of the biggest players in the troubled US mortgage sector, plummeted Tuesday after the mortgage finance giant revealed worse-than-expected losses of 2.0 billion dollars.
  2007-11-20 02:02:20

• Huntington lending partner reviewing Franklin loans

  MSN MoneyCentral - One of Huntington Bancshares Inc.'s partner lenders is reviewing its credit relationship with Franklin Credit Management Corp. as the borrower faces potential mortgage-related losses. Milwaukee-based Marshall & Ilsley Corp. (NYSE:MI) told investors ...
  2007-11-20 08:11:00

• Countrywide Denies Bankruptcy Rumors

  Street.Com - Concerns about the state of the mortgage arena have caused an overall drop in confidence about debt securities that have been underwritten by banks and mortgage firms that have ties to unsavory mortgage loans. The bad mortgage paper has unsettled ...
  2007-11-20 01:55:00

• Dr. Howard B. Slaughter, Jr., Re-Appointed to the Pennsylvania Housing ...

  Forbes - Since its creation in 1972, it has generated more than eight billion dollars for 140,000 single family mortgage loans and 80,000 rental units, while saving the homes of nearly 41,000 families from foreclosure. SOURCE Pennsylvania Housing Finance ...
  2007-11-20 12:07:00

• U.S. Homebuilders Fall on Concerns About Mortgage Availability

  Bloomberg - Nov. 20 (Bloomberg) -- U.S. homebuilders fell in New York trading on concern home loans may be harder to get after Freddie Mac, the second-biggest buyer of mortgages, said it needs capital. Standard Pacific Corp. and Pulte Homes Inc. led a Standard ...
  2007-11-20 11:31:00

• Countrywide Sinks on Downgrade

  Street.Com - Freddie Mac's news is troublesome because it is one of the largest purchasers of residential mortgage loans. These loans are considered less risky, because the GSEs require strict documentation on the mortgages and do not purchase some of the more ...
  2007-11-20 11:03:00

• US mortgage saviour in capital trouble

  The Australian - Freddie Mac, like fellow government sponsored entity Fannie Mae, helps banks free up funds for new mortgage loans by buying existing loans and repackaging them for sale in capital markets. It also buys and guarantees mortgage-backed securities. The ...
  2007-11-20 02:09:00

• Wachovia hires Dan Dixon to lobby federal government on residential ...

  CNBC - It would ban lenders from making loans that borrowers can't repay, establish a nationwide licensing system for mortgage brokers and make Wall Street banks that package mortgage securities into investments liable for violations of lending laws. But the ...
  2007-11-20 01:40:00

• Hanover Capital Mortgage Holdings Announces 2007 Third Quarter Results ...

  PR Newswire - The Company has seen increases in the level of losses on the underlying mortgage loans in its Subordinate MBS portfolio compared to its historical experience. However, these delinquencies still remain relatively low, as the Company's underlying ...
  2007-11-20 01:40:00

• Freddie Mac sets aside $1.2 billion in third quarter for bad home ...

  International Herald Tribune - Freddie Mac said it made the provision for credit losses in the July-September period because of defaults on home loans, which "reflects the significant deterioration of mortgage credit." The $2 billion loss for McLean, Virginia-based Freddie Mac ...
  2007-11-20 01:40:00

• ByDesign Financial Solutions Hosts Visit by Governor Schwarzenegger to ...

  Forbes - Governor Schwarzenegger is the first to spur servicers to publicly commit to modifying loans in a streamlined and scalable manner. "We applaud the Governor's work to bring mortgage lenders to the table," said Martha Lucey, president and CEO of ...
  2007-11-20 02:02:00

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