Mortgage and Financial News From 2008-1-24 Page 42

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  • Key House lawmaker Frank says regulation needed to steady financial ...

    Forbes - He said the center of the problem is that mortgage loans were securitized, which cut the link between the lender and the borrower, meaning borrowers now have much less interest in whether these loans would be repaid. 'The answer to that is not to do ...
    2008-01-24 01:35:00
  • Mortgage approvals hit by credit crunch

    Times Online - Mortgage approvals hit by credit crunch Home loans plunged to a record low in December as potential buyers hesitated in the face of higher interest rates
    2008-01-24 01:35:00
  • UPDATE 1-NY regulator: fixing bond insurers will take time

    Reuters - Bond insurers are wobbly after having guaranteed principal and interest payments on a series of repackaged subprime mortgage loans and other debt. Expected losses from those guarantees are surging, forcing the insurers to raise more capital. Ambac ...
    2008-01-24 01:35:00
  • Fitch Rates Alaska HFC $80.9MM Home Mtge Revs 2008 A 'AA+'

    Forbes - Bond proceeds will be used to purchase new qualified mortgage loans under this program. All loans purchased with tax-exempt bonds will be qualified first-time homebuyer loans. The master indenture authorizes the purchase of insured or guaranteed (if ...
    2008-01-24 01:20:00
  • Stimulus package: What's in and out (El Paso Times)

    Congressional leaders have reached a deal with the White house on a bipartisan economic stimulus package that is expected to move swiftly through Congress and give most tax filers rebates of $600 to $1,200.
    2008-01-24 01:50:25
  • U.S. Stocks Advance on Earnings, Government Stimulus Package (Bloomberg.com)

    Jan. 24 (Bloomberg) -- U.S. stocks staged their biggest two-day rally since November after Xerox Corp. and Lockheed Martin Corp. reported profit that topped analysts' estimates and lawmakers agreed on a plan to pay tax rebates to families.
    2008-01-24 01:51:04
  • Wall St. U-Turn Pulls U.S. Stocks Out of Nosedive (Washington Post)

    The stock market soared yesterday afternoon, capping a remarkably volatile day, as new efforts by key players in the U.S. financial system aim to raise enough cash to guard against some of the fallout of the credit crisis.
    2008-01-24 01:51:27
  • How To Handle a Cash Crunch (Benton Evening News)

    (ARA) - In the world of living paycheck to paycheck, unforeseen expenses create a very stressful situation. Whether the car breaks down, the water heater blows a leak or your dog needs emergency surgery from eating the hallway rug, finding a way to get out of the red gets harder every day.
    2008-01-24 01:53:21
  • New Mortgage Refinancing Boom Under Way (AP via Yahoo! Finance)

    This week's surprise rate cut by the Federal Reserve not only held Wall Street and investors in thrall, it's also kicked into high gear a rush by homeowners across the country to refinance their mortgages at today's lower rates.
    2008-01-24 01:54:04
  • ESB Financial Corporation Announces Earnings for Fourth Quarter and 2007 Year End (Business Wire via Yahoo! Finance)

    ELLWOOD CITY, Pa.----ESB Financial Corporation , the parent company of ESB Bank, today announced earnings of $0.61 per diluted share on net income of $7.7 million for the year ended December 31, 2007, compared to earnings of $0.83 per diluted share on net income of $10.6 million for the year ended December 31, 2006.
    2008-01-24 01:56:00
  • Congress Unveils Economic Stimulus Deal (IWon - Money)

    WASHINGTON (AP) — Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
    2008-01-24 01:56:01
  • E-Trade Posts $1.7 Billion Loss for 4Q (IWon - Money)

    NEW YORK (AP) — E-Trade Financial Corp. posted a hefty loss for the fourth quarter on Thursday as the struggling discount brokerage dumped a book of risky investments at a steep discount.
    2008-01-24 01:56:33
  • Mortgage approvals drop further

    BBC Business - Analysts have renewed calls for the Bank of England to cut interest rates. 'Weakness' The overall ... The CML said gross lending fell 25% in December to reach £22.6bn, the lowest monthly figure since May 2005. "Mortgage lending weakened notably ...
    2008-01-24 04:02:00
  • Statewide Median Price Off a Fraction for the Year

    Forbes - There are many choices for buyers and mortgage rates are the lowest in several years increasing the affordability for some buyers." The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 6.14 percent in ...
    2008-01-24 04:59:00
  • Gold Futures Top $900 as Dollar Drops; Platinum Jumps to Record

    Bloomberg - The dollar fell to the lowest ever against the euro last year as a housing slump and losses in the subprime mortgage market forced the Fed to reduce borrowing costs 1 percentage point. In 2007, the ECB raised rates 0.5 percentage point to 4 percent ...
    2008-01-24 10:50:00