Mortgage and Financial News From 2007-11-30 Page 11

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  • Collapse in mortgage deals for sub-prime buy-to-let landlords

    Times Online - The sub-prime buy-to-let mortgage market has virtually collapsed after the summer’s credit crunch with lenders withdrawing almost 90 per cent of deals. According to Moneyfacts, the price comparison website, more than half of buy-to-let deals for ...
    2007-11-30 12:38:00
  • US STOCKS-Dow, S&P 500 jump on housing plan, Fed Nasdaq dips

    Reuters - Banks and mortgage lenders were the standouts following a report that the U.S. Treasury will soon unveil a plan to help stem the subprime mortgage crisis. The interest-rate-sensitive plays, including Citigroup Inc (C.N: Quote , Profile , Research ...
    2007-11-30 01:43:00
  • Insured Home Mortgage Defaults Highest Since 2001 (Update4)

    Bloomberg - The surge in home foreclosures is sapping profit at lenders as well as mortgage insurers including MGIC Investment Corp., the biggest, and No. 2 PMI Group Inc., which reported their first quarterly losses as public companies last month. Borrowers who ...
    2007-11-30 12:24:00
  • Market At The Bottom? Signs Appear Positive

    CNBC - 3-- Treasury Secretary Paulson is working on a plan where mortgage lenders would voluntarily refrain from resetting ARMs when the teaser rate expires. If Paulson doesn't act, the Congress might. The Senate Judiciary Committee is holding a hearing next ...
    2007-11-30 01:28:00
  • UPDATE 1-Dealers test market with subprime bond lists

    Reuters - Treasury is expected to next week announce a plan with top mortgage lenders and servicers that will freeze payments for many subprime borrowers facing higher rates that would otherwise send them into foreclosure. Soaring defaults on subprime ...
    2007-11-30 12:24:00
  • ABX Indexes Rise as Treasury Seeks Plan to Stem Foreclosures

    Bloomberg - Nov. 30 (Bloomberg) -- ABX indexes tied to subprime-mortgage bonds rose, a sign the perceived risk of owning the securities improved after U.S. Treasury Secretary Henry Paulson negotiated a plan with lenders to curb record foreclosures among subprime ...
    2007-11-30 07:52:00
  • US subprime plan faces hurdles

    Financial Times - The plan, being discussed by the Treasury department and other regulators, along with mortgage lenders, servicers and investors, is des­igned to forestall a potential crisis when introductory “teaser” rates on nearly $400bn (€272bn, £194bn ...
    2007-11-30 12:02:00
  • Lending.com Improves Processing Time and Increases Profitability with ...

    Forbes - Over 1,400 realtors surveyed by Realty Times say the number one reason for missed closing dates is due to underwriting delays. Lending.com, one of the leading online mortgage lenders announced today they will be integrating with the nation's industry ...
    2007-11-30 09:39:00
  • Bush seeks bank deal to ease housing crisis

    Guardian Unlimited - The White House is close to a deal with US mortgage lenders to ease repayments for thousands of cash-strapped homeowners in an attempt to limit the economic and political damage wreaked by millions of home foreclosures. Talks are under way with a ...
    2007-11-30 10:22:00
  • U.S. stocks up, bonds slip on rates, mortgage plan

    Reuters UK - The technology-laced Nasdaq fell after a disappointing outlook from Dell Inc (DELL.O: Quote , Profile , Research ) but mortgage lenders, bond insurers and homebuilding stocks that have been battered by the fallout over subprime lending posted double ...
    2007-11-30 01:07:00
  • GLOBAL MARKETS-Stocks up, bonds slip on rates, mortgage plan

    Reuters - The technology-laced Nasdaq fell after a disappointing outlook from Dell Inc (DELL.O: Quote , Profile , Research ) but mortgage lenders, bond insurers and homebuilding stocks that have been battered by the fallout over subprime lending posted double ...
    2007-11-30 12:45:00
  • Sen. Dodd offers cooperation on mortgage plan

    CNBC - Dodd's letter came as Paulson was said to be hammering out a plan with mortgage lenders to freeze interest rate payments for many troubled subprime mortgage borrowers, with the goal being to help them avoid losing their homes. Many borrowers in ...
    2007-11-30 01:00:00
  • Kroszner Urges Mortgage Lenders to Modify Loan Terms (Update1)

    Bloomberg - Nov. 30 (Bloomberg) -- Federal Reserve Governor Randall Kroszner urged the financial industry to ``go further than it has'' in its efforts to rewrite mortgages of borrowers at risk of default and foreclosure. ``It would behoove the industry to go ...
    2007-11-30 01:43:00
  • Newsom asks lenders to offer more help to those facing foreclosure (San Francisco Chronicle)

    San Francisco has emerged relatively unscathed from the mortgage crises sweeping the nation, but a coalition of city leaders is predicting that reality may soon change. To deal with it, the group called on major subprime lenders Thursday to change the way...
    2007-11-30 12:34:15
  • Rate-Freeze Plan Pumps Lenders (TheStreet.com)

    Mortgage lenders sizzle on a report about a plan to temporarily suspend variable interest rate resets.
    2007-11-30 08:11:10