Mortgage and Financial News From 2008-2-28 Page 13

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  • Stocks decline amid more downbeat data

    MSNBC - The stock market this week has been hit by a series of complex developments, including regulatory changes that should enable mortgage companies Fannie Mae and Freddie Mac to put badly needed liquidity into the housing sector.
    2008-02-28 07:17:00

  • Thornburg May Sell Securities to Meet Margin Calls (Update2)

    Bloomberg - Thornburg, which specializes in adjustable-rate loans of $417,000 or more, was one of more than 100 mortgage companies that halted loans or left the business in 2007.
    2008-02-28 06:48:00

  • Freddie Mac posts record loss

    Financial Times - Ofheo said on Wednesday it would maintain a 30 per cent regulatory capital surcharge for the mortgage companies, which led investors to worry that capital constraints would limit Fannie and Freddie’s ability to buy mortgages.
    2008-02-28 08:43:00

  • Press Conference of the President (White House News)

    President Bush on Thursday said, "Members should also act on a very urgent priority, and that is to pass legislation our intelligence officials need to quickly and effectively monitor terrorist communications. At issue is a dispute over whether telecommunications companies should be subjected to class-action lawsuits because they are believed to have helped defend America after the attacks of ...
    2008-02-28 09:38:26

  • Tetragon Financial Group Limited (TFG) - Release of Performance for Full Year 2007 (PR Newswire via Yahoo! Finance)

    Tetragon Financial Group Limited today announced its full year 2007 results and published its 2007 Annual Report.
    2008-02-28 09:40:00

  • Federal Regulators to Ease Rules on Fannie Mae and Freddie Mac (NYTimes.com via Yahoo! Finance)

    In a move that could help the housing market, a federal regulator said that it was removing limits on the investment portfolios of the two large mortgage buyers.
    2008-02-28 09:40:44

  • Europe to Review Rules After Bailouts of 2 Banks (NYTimes.com via Yahoo! Finance)

    European Union regulators said they would investigate whether bailouts of two German banks hit by the subprime lending crisis had violated rules on state aid.
    2008-02-28 09:40:45

  • Freddie Mac Posts $2.5 Billion Loss (NYTimes.com via Yahoo! Finance)

    Citing the “severe” housing downturn, the company revised its estimate of total credit losses for 2008 and 2009 to $2.2 billion and $2.9 billion, respectively.
    2008-02-28 09:40:49

  • Stocks Fall on Jobs Data and Bernanke Remarks (NYTimes.com via Yahoo! Finance)

    Wall Street dropped as investors, already concerned about a rise in unemployment claims, sold off when the Federal Reserve chairman pointed to troubles in the banking sector.
    2008-02-28 09:40:49

  • CIBC Has Quarterly Loss; Toronto-Dominion Net Slows (Update1) (Bloomberg.com)

    Feb. 28 (Bloomberg) -- Canadian Imperial Bank of Commerce reported the second-biggest loss in its 141-year history and Toronto-Dominion Bank posted its slowest profit growth in four quarters, as fallout from the collapse of the U.S. subprime mortgage market spreads north.
    2008-02-28 09:43:48

  • Papers stolen out of newsracks

    Cedar Creek Pilot - LAKE AREA — Thieves cleaned out 17 newsracks and stole more than 230 copies of the Feb. 14 edition of the Cedar Creek Pilot, General Manager Kathi Nailling announced this week. The lead story in that edition was “Three indicted for mortgage fraud ...
    2008-02-27 05:59:00

  • Candidate reps get earful on housing mess

    Crain's Cleveland Business - Obama’s ideas for easing the problem include giving tax credits covering 10% of a struggling homeowner’s annual mortgage interest payments and offering financial assistance for victims of mortgage fraud.
    2008-02-27 11:14:00

  • If a tree's owner falls ...

    Los Angeles Times - Now it's Las Vegas rules run amok -- and look where that's gotten us: a landscape littered with sub-prime mortgage catastrophes, leveraged debt, securities fraud and imperiled pension funds.
    2008-02-27 11:53:00

  • HOUSING HORRORS

    New York Post - He claimed his Stop Fraud Act would stop "mortgage brokers who are hoodwinking low-income borrowers into taking on loans they cannot afford." More precisely, that bill promises "to stop transactions which operate to promote fraud, risk and ...
    2008-02-25 03:56:00

  • R&SA hit with first claims for mortgage defaults

    Insurancetimes.co.uk - ProFin director Aaron Devitt said that as well as claims surrounding mortgage defaults and repossessions, R&SA had received claims centring on cases of mortgage fraud, whereby surveyors value a property at more than it is worth.
    2008-02-27 03:50:00

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