Mortgage and Financial News From 2007-12-12 Page 2

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  • Fitch Affirms Assured Guaranty's 'AAA' IFS Rtg Following Review of ...

    PR Inside - Assured Guaranty Corp. Assured Guaranty (UK) Ltd. --Insurer financial strength (IFS) at 'AAA'. Assured Guaranty Re Ltd.a Assured Guaranty Re Overseas Ltd. Assured Guaranty Re Mortgage Insurance Company --IFS at 'AA'. Assured Guaranty Ltd. --$150 ...
    2007-12-12 03:09:00
  • AIG's ratings affirmed, unit upgraded to 'AA+', outlook stable - S&P

    Forbes - Somewhat offsetting these strengths is the group's substantial exposure to the US residential mortgage market through various insurance and financial services subsidiaries,' it added. TFN.newsdesk@thomson.com npr/ukn COPYRIGHT Copyright Thomson Financial ...
    2007-12-12 09:57:00
  • Wolters Kluwer Financial Services to Help Mortgage Servicers Implement Loan Modification Programs (PR Newswire via Yahoo! Finance)

    Wolters Kluwer Financial Services announced today the company can now help mortgage servicers modify distressed subprime borrowers' adjustable rate mortgages to make payments more affordable and avoid costly foreclosures.
    2007-12-12 08:44:00
  • Flood of insurance claims begins over NW storms (The World)

    PORTLAND — In storm-ravaged parts of the Northwest, home and business owners are beginning to file insurance claims — a process that could be complicated by whether severe winds or floods did the damage.
    2007-12-12 11:10:30
  • House price fall 'accelerating'

    BBC News - But with more than a million homeowners moving off cheap fixed-rate mortgages in the coming year this is unlikely to make a difference on its own to the expense of borrowing a mortgage. This week the Council of Mortgage Lenders (CML) reported that ...
    2007-12-12 09:07:00
  • Gold & Mortgage Failure Avalanche (Kitco.com)

    An avalanche comes in 2008. Its wreckage will hit both the USEconomy and banking world. The greatest deception in the bank sector this year has been the misrepresentation of the mortgage debacle as a subprime problem.
    2007-12-12 11:12:39
  • Insurance expert criticizes Blue Cross rate calculations (Detroit Free Press)

    LANSING — A national insurance expert today testified at a consumer hearing that Blue Cross Blue Shield of Michigan used flawed, inappropriate methods to determine proposed rate hikes at issue in a consumer challenge.
    2007-12-12 10:56:50
  • Report blames lenders for mortgage repossessions

    International Herald Tribune - LONDON : Irresponsible decisions and aggressive tactics to recover arrears by mortgage lenders, together with poor advice from brokers have left thousands of people facing homelessness, a report said on Wednesday. Citizens Advice said the dream of ...
    2007-12-11 04:00:00
  • Banks pump billions into crisis-hit markets

    Daily Telegraph - The unexpected move raised hopes that Britain's mortgage lenders, who rely on the markets for funding, will now be able to cut the cost of borrowing for hard-pressed home owners. Many banks and building societies have still not passed on last week's ...
    2007-12-12 10:32:00
  • Steel Defends Mortgage Freeze Criteria (AP via Yahoo! Finance)

    A Treasury Department official deflected criticism Wednesday that the requirements for President Bush's mortgage modification plan are too narrow to help enough struggling homeowners.
    2007-12-12 08:08:38
  • Skip the 20% Down Payment (The Motley Fool via Yahoo! News)

    Conventional wisdom holds that it's best to buy a home by paying 20% of its price up front. That spares the buyer the expense of private mortgage insurance (PMI), and provides lower monthly payments to boot. Now that the subprime lending crisis has erupted, hurting profits in investment firm Bear Stearns (NYSE: BSC - News), homebuilders like Pulte Homes (NYSE: PHM - News), and lenders such as ...
    2007-12-12 08:54:11
  • Bill targets mortgage lenders

    The State - South Carolina mortgage lenders could face stricter licensing rules and more oversight — an effort to cut fraud and foreclosure — under a bill proposed by state lawmakers Wednesday. The proposal is one of 97 in a second batch of bills ready for ...
    2007-12-12 08:16:00
  • Nigeria: NDIC Begins N100,000 Deposit Insurance Cover for MFBs, PMIs So (AllAfrica.com)

    The managing director of Nigeria Deposit Insurance Scheme (NDIC), Alhaji Ganiyu Ogunleye, has disclosed that, beginning from January, 2008, the corporation would extend the deposit insurance coverage of N100,000 per depositor to Microfinance Banks (MFBs) and Primary Mortgage Institutions (PMIs).
    2007-12-12 12:27:29
  • Indymac Bancorp sinks to more than 14-year low, mortgage lenders slide (Sharewatch)

    NEW YORK (Thomson Financial) - Shares of mortgage lenders tumbled Wednesday, underperforming the broader market with Indymac Bancorp. Inc. plummeting to its lowest level in more than 14 years.
    2007-12-12 09:15:49
  • Record Money: Lenders' Praise Flies In Face Of Mortgage Chaos (Daily Record)

    LAST week, the UK's mortgage lenders got together and celebrated the industry's long and heroic history of success.
    2007-12-12 09:46:04