Mortgage and Financial News From 2007-9-28 Page 9
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Freedom Bank Opens Mortgage Loan Origination Department
Forbes - John T. Rohrback, President & CEO, announced the opening of their Mortgage Loan Origination Department. He stated: "At a time when many mortgage companies are closing their doors, Freedom Bank recognizes there is a continuing need for mortgage ...
2007-09-28 11:04:00 -
Regulators shut online bank NetBank due to mortgage defaults
USA Today - While dozens of mortgage companies have closed due to soaring defaults of home loans made to borrowers with weak credit, those problems previously had occurred among non-bank lenders such as New Century Financial. NetBank is federally regulated. The ...
2007-09-28 01:49:00 -
Poorest could see mortgage payments shoot up 60% (Guardian Unlimited)
Business & money: Credit ratings agency warns British mortgage holders coming off fixed rate mortgages to expect 'payment shock'.
2007-09-28 08:51:12 -
Regulators shut online bank NetBank due to mortgage defaults (USA Today)
An online bank based in the Atlanta suburbs with $2.5 billion in assets was shut down by the government on Friday because of an unsustainable level of mortgage defaults.
2007-09-28 02:25:32 -
Freedom Bank Opens Mortgage Loan Origination Department (Business Wire via Yahoo! Finance)
FAIRFAX, Va.----John T. Rohrback, President & CEO, announced the opening of their Mortgage Loan Origination Department. He stated: "At a time when many mortgage companies are closing their doors, Freedom Bank recognizes there is a continuing need for mortgage financing."
2007-09-28 11:00:00 -
Mortgage Meltdown: What Does It Mean? (E-Commerce Times)
As of this writing, the financial markets are in turmoil due to extremely high delinquencies on so-called sub-prime mortgages. These are the mortgages made in the last few years by aggressive mortgage banking companies that were able to "bundle" the risky debts into packages and then sell them to mutual funds and other institutional investors.
2007-09-28 05:05:17 -
Broker Action For Friday, Sept. 28
Forbes - KB Home had a rough summer, but one analyst believes the home builder is now right on track. On Wednesday, KB Home said sales plunged 32% in the last quarter as the mortgage meltdown depressed demand. While KB Home isn’t in the clear yet, a ...
2007-09-28 08:19:00 -
Candidates divided over vision for San Anselmo
Marin Independent Journal - But attorney Ford Greene and mortgage broker Casey Logwood painted a picture of a town in which the government has lost touch with its citizens. "There's a divide between the current council and business community and the great majority of citizens ...
2007-09-28 12:58:00 -
HOME WRECK
New York Post - September 28, 2007 -- Home prices are skidding at their fastest rate in 37 years as the housing recession scattered more industry leaders into retreat and possible bankruptcy. The big discount mortgage broker, Foxtons, said it will pull out of the U ...
2007-09-28 01:46:00 -
Cheers! Sox fans divided by Cubs
Chicago Sun-Times - White Sox diehards such as mortgage broker Joe Cuttone aren't willing to cut the Cubs any slack. ''All my family members are Cubs fans except for me,'' Cuttone said before the Sox' game Wednesday against the Kansas City Royals. ''So, no, I'm not ...
2007-09-28 01:53:00 -
LendingTree probe snares Cornelius man
MSN MoneyCentral - The complaint alleges Hershey bought and sold LendingTree stock on insider knowledge that the mortgage broker was in negotiations to be sold to IAC/InterActiveCorp. His illicit trading profits totaled more than $14,000, the SEC says. According to the ...
2007-09-28 08:12:00 -
Financing Your Business with Home Equity
MSNBC - As long as your home has appreciated in value, there will be a bank or mortgage broker who wants to loan you money in the form of either a home equity loan or line of credit right up to your credit limit. It's in their best interest because they make ...
2007-09-28 01:20:00 -
Northern Rock refuses to tighten lending rules
Guardian Unlimited - If the customer agrees to a five year fixed rate deal they can qualify for a loan worth six times their income, said mortgage broker London & Country. Northern Rock's shares dropped 7% to 179p today on news that its overdraft with the Bank of England ...
2007-09-28 10:50:00 -
Mortgage lending growth slows again (RTÉ News)
Figures from the Central Bank show that growth in residential mortgage lending slowed again in August, having fallen to a five-and-a-half-year low in July.
2007-09-28 03:53:02 -
Broker tips: Antofagasta, Kazakhmys, Vedanta, Sainsbury's, A&L, BT (ShareCast)
LONDON (SHARECAST) - Selected miners are weaker after UBS downgraded some of the sector’s heavyweights following recent outperformance. It has cut Chilean copper giant Antofagasta to ‘sell’ from ‘neutral’ as it remains more expensive than most of its UK listed peers, although the broker maintained its 700p price target.
2007-09-28 04:23:56
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