Mortgage and Financial News From 2007-10-29 Page 7

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• Fitch Downgrades 2 and Affirms 4 Classes from WMALT 2006-2

  Forbes - The collateral of the above transaction primarily consists of 15-year and 30-year fixed-rate mortgage loans extended to Alt-A borrowers and secured by first liens on single-family residential properties. The loans were originated by various ...
  2007-10-29 01:26:00

• Encomia CEO Nominated For 2007 Mortgage Technology Award

  Forbes - Houston-based Encomia enables mortgage lenders to more cost-effectively and efficiently originate mortgage loans by enabling lenders to process mortgage loans electronically, from end-to-end, on a large-scale basis, regardless of document format. The ...
  2007-10-29 10:49:00

• Jimmy Carter urges rescue for subprime borrowers

  CNBC - ... in Southern California as families took out mortgages with low introductory rates, which often would spike upward in two years. Los Angeles County, one of the wealthiest in the nation, showed a 144 percent rise in defaults on mortgage loans in the ...
  2007-10-29 05:15:00

• Mozilo, KB Home chief offer bleak forecast

  CNN Money - Countrywide said last week it would step up loan modifications and other efforts for some 82,000 adjustable mortgage loans slated to reset to a higher interest rate and higher monthly payments. Ross DeVol, director of regional economics for the ...
  2007-10-29 05:44:00

• Clayton Shares Continue Freefall

  Forbes - Clayton Holdings advises banks like Deutsche Bank and Morgan Stanley on how to buy mortgage loans, package them into bonds and sell those bonds to investors. As investors have soured on bonds backed by risky mortgages, the banks have sold fewer of ...
  2007-10-29 05:37:00

• Mortgage approvals at two-year low (FT.com via Yahoo! News)

  UK mortgage approvals fell in September to the lowest level in two years as the housing market cooled, but household borrowing rose more than expected, official data showed on Monday.
  2007-10-29 04:40:18

• Principal Real Estate Investors Announces New Regional Sales Managers for Principal Commercial Mortgage EdgeSM Program (Business Wire via Yahoo! Finance)

  DES MOINES, Iowa----Principal Real Estate Investors, the fourth largest manager of real estate assets in the U.S. based on tax-exempt assets under management1, is pleased to announce the addition of five new regional sales managers to Principal Commercial Mortgage EdgeSM, a new small balance loan program that originates, services and securitizes small balance commercial real estate loans on a ...
  2007-10-29 09:51:00

• NexBank Introduces Jumbo Mortgage (Business Wire via Yahoo! Finance)

  DALLAS----NexBank, SSB has introduced a jumbo mortgage product for home loans from $1.5 to $10 million, representing a shift for the bank, which has heretofore not focused on residential loans in this category.
  2007-10-29 08:14:00

• Students often overlook federal loans that are great deals (USA Today)

  In the Land of Oz, there are good witches and bad witches. Likewise, in the land of borrowing, there's good debt and bad debt. A home mortgage? Good debt, because the interest is tax-deductible, your home will likely rise in value over time, and you'll have a roof over your head. A credit card loan to buy a pair of designer sandals? Bad debt.
  2007-10-29 06:06:14

• A gloomy week in the mortgage industry means more troubles for borrowers seeking loans (Savannah Morning News)

  NEW YORK - In all phases of the mortgage industry this week, from the people who make the loans to the people who insure them, the news was bad - and most of them expect it to get worse.
  2007-10-28 10:07:08

• 'Ain't no stopping us now,' SNP leader taunts Brown

  Scotsman - ALEX Salmond taunted Gordon Brown yesterday, telling the Prime Minister he was powerless to stop the Scottish Government driving towards independence. The First Minister hit out at what he claimed was obstructionism and a clear financial squeeze ...
  2007-10-28 10:17:00

• Year-end tax review timely (6:53 a.m.)

  Las Cruces Sun-News - On the tax deduction side, you can prepay your January mortgage payment." Interest ... If your are charitably inclined, you have to calculate which year you want to make those donations in," Moore said. Brook ...
  2007-10-29 09:58:00

• LAUREL: Sussex land trust planning affordable housing

  Delmarva Daily Times - Mortgage payments and property taxes are the responsibility of the owners, who gain the tax benefits of the mortgage interest deduction. When a homeowner decides to sell, the land trust will appraise the home, calculate a resale price and either ...
  2007-10-29 02:28:00

• Firefighters Use Photos To Better Battle Blazes (WLWT-TV Cincinnati)

  The Butler County auditor recently began taking aerial photographs of the area for her officer, and West Chester and Ross Township fire departments decided to use the photos to help battle fires.
  2007-10-29 04:23:57

• Movers: Merrill Lynch, Yahoo, Boeing, Office Depot, RadioShack (BusinessWeek)

  Monday's stocks in the news
  2007-10-29 07:27:41

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