Mortgage and Financial News From 2008-1-8 Page 11

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• Countrywide shares tumble, mortgage lender denies bankruptcy rumors

  CNBC - Countrywide, like many in the mortgage industry, has suffered as more customers have defaulted on home loans, particularly on those made to borrowers with questionable repayment histories. The Calabasas, California-based company reported a $1.2 ...
  2008-01-08 01:32:00

• Credit market fears open the way for Buffett

  Financial Times - In recent years, bond insurers moved into areas other than municipal bonds, guaranteeing structured debt backed by assets such as mortgage loans. In 2006, some $199.4bn of US municipal bond issuance was insured, against $341.5bn of asset-backed ...
  2008-01-08 03:27:00

• Bank to lay off 60 workers, mostly in Farmington Hills

  Detroit Free Press - ... Republic Bancorp will lose their jobs over the next few months. Citizens Republic CEO Bill Hartman says many of the employees affected work in Farmington Hills. The company is contracting with a New Jersey-based firm to process its mortgage loans.
  2008-01-08 11:31:00

• Banco Macro Announces Share Buy Back

  MSN MoneyCentral - ... of the shares of the Bank, the current international macroeconomic context and the fluctuations in the capital market in general) following the reduction of prices in international markets triggered by the crisis facing the subprime mortgage loans ...
  2008-01-08 03:05:00

• Mavent Appoints Jason Connolly Senior Vice President of Sales and ...

  Forbes - Mavent's automated compliance engine reviews mortgage loans in less than 10 seconds for compliance with nearly 300 federal, state and local consumer protection laws, including: predatory lending laws, usury, fee limits, prepayment penalty ...
  2008-01-08 12:56:00

• Fitch Affirms 4 & Downgrades 2 RMBS Classes from ABN AMRO 2003-12

  Forbes - The trust is secured by conventional, 30-year fixed-rate mortgage loans. All of the loans were originated by ABN AMRO Mortgage Group, Inc. Washington Mutual Mortgage Securities Corp. (rated 'RPS2+' by Fitch) acts as servicer. For additional ...
  2008-01-08 01:04:00

• Moody's cuts 126 classes of Alt-A RMBS ratings

  Reuters - NEW YORK, Jan 8 (Reuters) - Moody's Investors Service slashed the ratings on 126 classes of residential mortgage-backed securities supported by Alternative-A loans on Tuesday, issued by Impac Mortgage, Deutsche Bank and Bear Stearns. The rating ...
  2008-01-08 02:08:00

• Flagstar Bank Launches DocVelocity to Help Mortgage Brokers and ...

  Forbes - Flagstar Bank originates loans nationwide and is one of the leading originators of prime residential mortgage loans. For more information, please visit http://www.flagstar.com. About Capsilon Corporation Capsilon Corporation is a leading provider of ...
  2008-01-08 01:32:00

• Mortgage bankers lobby asks for accounting relief

  Reuters - WASHINGTON, Jan 8 (Reuters) - The largest trade group representing the U.S. mortgage industry on Tuesday told U.S. accounting rulemakers that lenders need to use more flexible bookkeeping if they are to save home loans headed for foreclosure. The ...
  2008-01-08 03:20:00

• Regions Financial stock tumbles after addition to bank's reserves - Trading Markets (press release)

  Regions Financial stock tumbles after addition to bank's reservesTrading Markets (press release), CA - 1 hour ago... other regional and national banks that have added to fourth-quarter loan loss reserves, mostly related to loans to home builders and mortgage problems. ...
  2008-01-08 05:19:06

• PRESS DIGEST - Hong Kong - Jan 9 - Reuters

  PRESS DIGEST - Hong Kong - Jan 9Reuters - 1 hour agoDBS expects Hong Kong's total mortgage loans to increase by a further HK$50 billion this year. -- Lily Chiang, chairwoman of the Hong Kong General Chamber ...
  2008-01-08 05:21:45

• City to Sue Lender For Alleged Discrimination - ABC2 News

  City to Sue Lender For Alleged DiscriminationABC2 News, MD - 1 hour agoA single mother with a lone income, Tawanda Ross is two mortgage payments behind, and she fears her lesson in purchasing real estate may come too late to ...
  2008-01-08 05:28:10

• Bear Stearns shares decline - BusinessWeek

  Bear Stearns shares declineBusinessWeek - 1 hour ago... loans. Aside from the writedowns, Bear Stearns had two hedge funds worth billions of dollars collapse in July that were heavily invested in the mortgage ...
  2008-01-08 05:32:54

• Schwartz Takes the Helm at Bear Stearns - Wall Street Journal

  Schwartz Takes the Helm at Bear StearnsWall Street Journal - 1 hour ago"We probably have the lightest inventory of leveraged loans in the industry," he said, but undesirable loan commitments remain an issue. On the mortgage ...
  2008-01-08 05:48:49

• Housing: A Fresh Jolt of Bad News - BusinessWeek

  Housing: A Fresh Jolt of Bad NewsBusinessWeek - 1 hour ago... Stuart Plesser says the recent slowdown in mortgage purchases by government-sponsored enterprises could put stress on the company's loan funding. ...
  2008-01-08 06:07:48

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