Mortgage and Financial News From 2007-10-9 Page 10

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  • Fitch Rates Utah Housing Corp 2007 Series F Bonds

    Forbes - Fitch Ratings has assigned the following ratings to Utah Housing Corporation's (the corporation) 2007 series F single-family mortgage bonds: --$14 million class I variable-rate bonds 'AAA/F1+'; --$15.75 million class I fixed-rate bonds 'AAA'; --$1 ...
    2007-10-09 01:35:00

  • Fed members all backed bold rate cut

    Washington Post - Without such a move, policy-makers were afraid that tightening credit conditions and the deepening housing slump that had been triggered by a spike in mortgage foreclosures would lead to "significant weakness" in business activity and hiring. Also ...
    2007-10-09 01:28:00

  • Dollar Falls Versus Euro as Fed Minutes Boost Riskier Assets

    Bloomberg - Housing markets ``remained exceptionally weak,'' the minutes said, and ``the faster pace of foreclosures as subprime mortgage rates reset was also seen as posing a downside risk'' to residential real estate. Housing starts fell to a 12 ...
    2007-10-09 01:28:00

  • Fed Left Plans for Further Cuts Dependent on Data (Update4)

    Bloomberg - Housing markets ``remained exceptionally weak,'' the minutes said, and ``the faster pace of foreclosures as subprime mortgage rates reset was also seen as posing a downside risk'' to residential real estate. Housing starts fell to a 12 ...
    2007-10-09 01:21:00

  • UPDATE 3-Thornburg Mortgage says loss widens; shares fall

    Reuters - ... to $286 million from the $262 million anticipated in mid-August based on revised market value prices, and estimated a $16 million loss on loans approved before jumbo rates rose to match rising funding costs. "The global dislocation of the mortgage ...
    2007-10-09 02:26:00

  • Fitch Rates $196.7MM MASTR Alternative Loan Trust 2007-HF1 Mtge P-T ...

    Forbes - Mortgage Asset Securitization Transactions, Inc. (MASTR) Alternative Loan Trust 2007-HF1, mortgage pass-through certificates, is rated by Fitch Ratings as follows: --$196,706,646 classes 1-A-1, 1-A-2, 2-A-1 through 2-A-3, 3-A-1, 3-A-2, 4-A-1 through ...
    2007-10-09 12:38:00

  • Treasuries Fall as Fed Decided Further Cuts Depended on Markets

    Bloomberg - Housing markets ``remained exceptionally weak,'' the minutes said, and ``the faster pace of foreclosures as subprime mortgage rates reset was also seen as posing a downside risk'' to residential real estate. ``Until you see a turnaround ...
    2007-10-09 01:57:00

  • Fed cut rates to limit damage from credit turmoil (Reuters via Yahoo! News)

    Concern that a credit crunch and financial market disarray could hit the U.S. economy prompted the Federal Reserve to cut interest rates sharply last month, even though it was unclear how serious any damage could be.
    2007-10-09 01:27:06

  • Most fixed mortgage rates fell in September (Reuters.co.uk)

    LONDON (Reuters) - Most fixed mortgage rates fell last month, data from the Bank of England shows, suggesting households are not being unduly squeezed by the recent credit market turmoil.
    2007-10-09 08:27:09

  • SIGNONSANDIEGO NEWS SERVICES

    San Diego Union-Tribune - Brent Wilkes, 53, is charged with conspiracy, honest services wire fraud, bribery of a public official, money laundering ... New York mortgage banker John Michael is charged with obstruction of justice for allegedly attempting to influence and impede ...
    2007-10-09 04:10:00

  • IMF warns on growth as policymakers debate

    San Diego Union-Tribune - S&P forecast total subprime mortgage defaults could reach $150 billion while its chief economist David Wyss told a news conference in Mumbai: 'We underestimated the extent to which fraud was occurring in the industry.' In a sign of continued euro zone ...
    2007-10-09 07:16:00

  • Minor suspect speaks out in bribery probe

    Dallas Morning News - Rashad said he wasn't worried about being wrapped into the corruption case until March 2006, when he was told there was a warrant for his arrest on mortgage fraud charges. When he surrendered, he got a quick introduction to an FBI agent who had not ...
    2007-10-09 12:28:00

  • Sallie Mae files lawsuit against suitors

    Sacramento Business Journal - Sallie Mae sues buyout group [Baltimore] Analysts: BofA looks at $1B mortgage write-off [Greensboro] Fitness center owner is guilty of bank fraud [Charlotte] Sallie Mae sues buyout consortium [Charlotte] Investor group revises Sallie Mae buyout offer ...
    2007-10-09 08:35:00

  • Investment Fraud Probe Expands to Raleigh

    WRAL - Posted: Oct. 8 8:35 p.m. Updated: Today at 12:06 a.m. Raleigh — A Charlotte man is being investigated for fraud after authorities became suspicious that a mortgage investment scheme was not as good a deal as advertised. Search warrants released in ...
    2007-10-09 05:07:00

  • S&P says underestimated extent of mortgage fraud

    Reuters - MUMBAI, Oct 9 (Reuters) - The chief economist of Standard and Poor's said on Tuesday that the ratings agency had underestimated the extent of fraud in the U.S. mortgage industry. "We underestimated the extent to which fraud was occurring in the ...
    2007-10-09 12:07:00

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