Mortgage and Financial News From 2007-9-21 Page 12

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  • House panel weighs tax relief on mortgage debt (Reuters via Yahoo! News)

    Homeowners who lose their house to foreclosure would no longer face a federal tax bill for their unpaid mortgage debt under a bill being drafted in U.S. House of Representatives, a congressional aide said on Friday.
    2007-09-21 10:32:28
  • Why Mortgage Life Insurance is Not a Good Idea (Richfield Reaper)

    (ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services.
    2007-09-21 08:12:41
  • Clinton, Edwards Spar Over Lobbyists, Health Care at Debate

    Bloomberg - Bernanke, while railing against predatory mortgage lenders. The Fed Sept. 18 lowered its benchmark interest rate by a half point to protect the U.S. from sinking into a recession sparked by the housing-market collapse. `Good Grades' for ...
    2007-09-21 03:34:00
  • Homes squeeze hurting

    News.com.au - The Housing Industry Association said sales of new homes across Australia dropped 8.6 per cent in August. And the mortgage squeeze shows no sign of slowing down in Victoria. Supreme Court actions by lenders seeking to repossess land jumped by almost ...
    2007-09-21 07:52:00
  • US Treasury signals new liquidity boost

    The Australian - THE US yesterday signalled fresh steps to improve liquidity in credit markets and guard against future shocks to the global financial system. Hank Paulson, the US Treasury secretary, said government-backed mortgage lenders could play a role in ...
    2007-09-21 07:09:00
  • UK: Northern Rock shares open 4.2 percent higher

    MSN UK News - Northern Rock shares opened 4.2 percent higher at 193 pence (euro2.76, US$3.87), a day after falling 28 percent. Among other major U.K. mortgage lenders, Alliance & Leicester was up 0.7 percent, HBOS up 0.5 percent and Bradford & Bingley down 0.5 ...
    2007-09-21 12:28:00
  • Consumer spending rides out market turmoil

    Financial Times - Many economists expect market turbulence to cause a sharper downturn in consumer sentiment in September, as mortgage lenders pass on some of the increase in effective borrowing rates and as the images of savers queuing outside Northern Rock branches ...
    2007-09-21 05:00:00
  • Fed's cut won't affect mortgage rates directly

    Nashua Telegraph - Whenever the Fed cuts the federal funds rate, customers call mortgage lenders, eagerly expecting to take advantage of a drop in mortgage rates. By the time these phone calls are over, customers frequently feel disappointed and even suspicious. It ...
    2007-09-21 03:27:00
  • Hovnanian's Housing Hoedown

    MSNBC - At the same time, as I've told Fools in the past, I think we should wait until we see ear-to-ear smiles on the faces of the folks at mortgage lenders like Countrywide (NYSE: CFC) and Washington Mutual (NYSE: WM) before we place any buy orders on the ...
    2007-09-21 08:28:00
  • Northern Rock Shares Open 4.2 Pct Higher

    Forbes - Among other major U.K. mortgage lenders, Alliance & Leicester was up 0.7 percent, HBOS up 0.5 percent and Bradford & Bingley down 0.5 percent. Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast ...
    2007-09-21 01:32:00
  • Alliance & Leicester hike some of its mortgage rates as a result of ...

    This is London - The Council of Mortgage Lenders has also warned that the reduction in available funding could hit the supply of mortgages. But there are hopes that the problems could ease after the Bank of England said it would pump at least £10 billion into longer ...
    2007-09-21 07:09:00
  • Eurostocks Weekahead-Edgy investors seek answers from U.S. data

    Reuters - Financials, especially hard hit by a funding crunch, will remain in focus as troubles at Britain's Northern Rock (NRK.L: Quote , Profile , Research ) -- whose shares fell more than 56 percent this week -- sparked concerns that other mortgage lenders ...
    2007-09-21 07:59:00
  • Mortgage brokers attracting cowboys

    News.com.au - The rise of easy money and lenders who turned a blind eye to an applicant's shortfalls have played their part in the current global crisus sending shivers through the mortgage belt, writes Scott Pape . THIRTY years ago, people got dressed in their ...
    2007-09-21 07:45:00
  • HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs (Update2)

    Bloomberg - Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds, said this week the global credit shortage is easing even as smaller rivals Accredited Home Lenders Holding Co. and Impac Mortgage Holdings Inc. said they're being ...
    2007-09-21 09:32:00
  • Calyx Software Integrates AVM Providers Into Point

    Forbes - Used primarily by mortgage lenders to pre-screen, underwrite, originate, and enhance quality control, automated valuation models (AVMs) significantly reduce the amount of time and money it takes to assess a property's current market value. Using ...
    2007-09-21 05:29:00