Mortgage and Financial News From 2007-10-29 Page 14

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  • PRESS DIGEST - New York Times - Oct. 29

    Reuters - In New York City neighborhoods hit hard by the subprime lending crisis, most loans that ended up in foreclosure came from three companies- Fremont Investment and Loan, WMC Mortgage, and the New Century Financial Corp (NEWCQ.PK: Quote , Profile , ...
    2007-10-29 10:27:00

  • Toshiba 2Q profit drops, sales rise

    Seattle Post Intelligencer - Toshiba said the outlook remains uncertain, citing worries about the future of the U.S. retail market and the subprime mortgage crisis. The U.S. economy is a major market for Japanese electronics companies. But the Tokyo-based manufacturer revised ...
    2007-10-29 11:32:00

  • We are letting housing fear get the best of us

    North Bay Business Journal - Sheila Blair of the Federal Deposit Insurance Corp., the federal bank regulator, is proposing that mortgage companies voluntarily rewrite performing subprime loans into fixed-rate mortgages and the lower variable rate. Meanwhile, we in the media and ...
    2007-10-29 09:44:00

  • Stocks Up on Optimism Over Rate Cut

    CNBC - The Federal Reserve Board will meet Wednesday and is widely expected to announce a quarter-point interest rate cut aimed at helping the economy amid the turmoil caused by the subprime mortgage fallout. Several companies, including one Dow component ...
    2007-10-29 07:57:00

  • Tax deferral not working as it was intended in Manatee County

    Herald Tribune - The mortgage companies will not allow anything to get in front of them," Profant said. "And taxes are a superior lien." Manatee County unanimously approved the program last October following vigorous lobbying by the Buehlers and other island business ...
    2007-10-29 11:46:00

  • Caterpillar Recession Warning Dismissed by Executives (Update1)

    Bloomberg - Mortgage Losses The 301 companies in the S&P 500 that had reported through Oct. 26 posted an average profit decline of 0.8 percent. Counting analysts' estimates for companies that haven't reported, average earnings may have fallen 1.6 ...
    2007-10-29 10:13:00

  • California home-loan defaults hit record

    Vacaville Reporter - Statewide, mortgage companies sent 72,571 notices of default to borrowers last quarter, according to DataQuick Information Systems, which collects the data from public records. That total easily exceeded the previous record, set in the first quarter ...
    2007-10-29 06:45:00

  • Fitch May Cut Credit Ratings on $36.8 Billion of CDOs (Update3)

    Bloomberg - Securities and Exchange Commission Chairman Christopher Cox last month said the commission is probing whether Wall Street pressured ratings companies to give top rankings for mortgage bonds. To contact the reporters on this story: Mark ...
    2007-10-29 11:53:00

  • Merrill mum on CEO's fate

    CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... also draw intense criticism for giving O'Neal an outsized final payday because of its association with the subprime mortgage ...
    2007-10-29 12:29:00

  • Merrill's own subprime warnings unheeded

    Reuters India - He covers mortgage companies for Merrill. O'Neal, who led the New York-based company through four consecutive years of record profit as housing boomed, will likely be ousted, according to published reports. Board sentiment on O'Neal apparently soured ...
    2007-10-29 12:22:00

  • Governor Rendell Launches Statewide Foreclosure Prevention Initiatives

    Forbes - Last December, the Banking Department issued a statement of policy to clearly define dishonest, fraudulent, illegal, unfair, unethical, negligent or incompetent conduct for mortgage companies under existing laws. The department is also supporting a ...
    2007-10-29 10:27:00

  • Tough sell in senior market (Los Angeles Times)

    Companies in Japan find that enticing the elderly to part with their money, aside from buying daily essentials, is a new and difficult challenge. When Hisashi Negishi retired, he paid off his mortgage and bought himself a $6,000 flat panel TV and a new car to last the rest of his life. That was two years ago. Since then, he hasn't bought much of anything.
    2007-10-29 12:24:09

  • Who gets your mortgage payments? (The Courier News)

    Just because you get a loan from a big-name bank doesn't mean that's who you're paying after you close on your house.The secondary mortgage market is a world all its own, experts say, with investors seeking higher yields buying mortgages from banks and savings and loan associations.
    2007-10-29 02:03:48

  • Mortgage Lenders Dismiss House Price Crash (The Motley Fool)

    Property prices will continue to rise over coming year - but only by a tiny margin, the Council of Mortgage Lenders predicted today.
    2007-10-29 12:11:36

  • American River Bank expands mortgage team with new hires (BizJournals)

    As mortgage companies shrink, close and disappear all over the area, American River Bank just beefed up its operation.
    2007-10-28 10:27:44

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