Mortgage and Financial News From 2007-11-30
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SITRONICS Signs Loan Agreement with Dresdner Bank AG
Forbes - The proceeds of the loan will be used to refinance certain current liabilities of SITRONICS and also to finance the working ... SITRONICS has developed strategic alliances in its home markets with Cisco Systems, STMicroelectronics, Infineon and ...
2007-11-30 07:59:00 -
U.S. lumber 2008 outlook dim as housing woes persist
Reuters - Lumber prices have eroded this year in tandem with slowing demand from home builders and it is difficult to gauge how far ... standards have shut out some buyers and made it very difficult for those with resetting adjustable rate mortgages to refinance.
2007-11-30 07:59:00 -
Bernanke, Paulson: Giving Traders What They Want
CNBC - ... millions of "piggyback" loans done in the last few years, where an original mortgage was combined with a home equity loan, often at 100% of the value of the house. If high loan to value ratio loans start deteriorating, and banks will not refinance ...
2007-11-30 05:57:00 -
Grassroots TV station manager cites low pay for resignation
Glenwood Springs Post Independent - And though he plans to refinance, Anderson will leave the valley for a new home in Marina, Calif., by the end of the year. Masters said he is grateful for Anderson’s years of service. He said it just might be time for him to spread his wings. “He ...
2007-11-30 07:45:00 -
New-Home Sales Post Modest Gain Because Prior Month Revised Down
Wall Street Journal - Separately, in just the latest report of falling house prices, the federal Office of Federal Housing Enterprise Oversight said its quarterly measure of home prices, based on sales and refinance transactions of houses with mortgages under $417,000 ...
2007-11-29 03:46:00 -
Mortgage payment going up
Newsday - Vivian says she knows she's in a tough spot because her home is now worth less than her $400,000 mortgage. And her husband's credit isn't very good, she says, so lenders are not willing to refinance her mortgage. She sent a hardship letter to her ...
2007-11-30 08:06:00 -
Calif. Democrats push mortgage reforms
CNBC - The bills would: -- Ban prepayment penalties that are sometimes applied when home owners refinance into more affordable loans. -- Increase state oversight of lenders and require them to create a uniform way of dealing with delinquent mortgages. ...
2007-11-30 07:59:00 -
White House: too soon to discuss subprime loan plan
Reuters - Those included a tax-relief proposal to make it easier for some homeowners to refinance their home loans. Economists have become increasingly concerned about the impact of the mortgage crisis, centered on subprime loans extended to riskier borrowers ...
2007-11-30 07:38:00 -
BCE deal faces hurdles, but none too high to jump over
Globe and Mail - Home National British Columbia Prairies Ontario Quebec Atlantic Politics Education World Americas Europe Asia-Pacific Africa-Mideast ... Or they could increase the equity they commit to the deal and refinance later. This has happened in other recent deals. Of ...
2007-11-30 03:49:00 -
Many factors determine home loans (Moorpark Acorn)
For months now we have all heard the doom and gloom about the tightening of credit markets and how difficult it is to either purchase or refinance a home loan. And while it is true that lending standards are no longer as loose as before, most lenders still understand that every loan application tells a story.
2007-11-29 10:01:23 -
Market Report: A&L buoyed by talk of Santander bid interest
The Independent - Although some traders believe a bid at this stage in the credit crunch is unlikely, with some believing that the sub-prime mortgage crisis has more bad news to deliver, the talk gave the sector added momentum. A&L firmed 38.5p to 635.5p, while ...
2007-11-28 04:08:00 -
For Abu Dhabi and Citi, Credit Crisis Drove Deal
New York Times - ... another $8 billion to $11 billion charge related to bad subprime mortgage investments, which could wipe out its fourth-quarter profit. As a result, it offered Abu Dhabi generous terms to get its money. Both sides were driven together by the credit ...
2007-11-27 03:55:00 -
Housing market feels first pinch of credit squeeze
Times Online - ... the housing market would be hit by the fallout from the credit ... in reports from many independent experts. The number of mortgage approvals for house purchases last month reached its lowest level since the start of 2005, in an omen of further bad ...
2007-11-29 01:15:00 -
Financial units' dividends feeling credit crisis
Akron Beacon Journal - Financial units' dividends feeling credit crisis Published on Friday, Nov 30 ... are facing a potential capital crunch due to the rapid decline in their mortgage ... quarter, largely due to its need to set aside $1.2 billion to account for bad ...
2007-11-30 01:54:00 -
Md. foreclosures spike; new laws, aid advised
Baltimore Sun - Maryland needs to change its mortgage laws, improve outreach to vulnerable borrowers ... to the governor will require changes in Maryland law "to rein in bad players and ... from subprime loans, those offered to borrowers who have less than optimal credit ...
2007-11-30 12:14:00