Mortgage and Financial News From 2007-10-9 Page 7

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  • Bank of England throws Northern Rock another lifeline by loosening ...

    Guardian Unlimited - Mr Sants said its lending was similar to other banks, but he agreed the regulator should have been more forceful in its dealings with Northern Rock after it saw the bank relied heavily on securitising its mortgage loans with other financial ...
    2007-10-09 04:34:00

  • IMF Concerned With Global Credit Squeeze

    Newsday - WASHINGTON - The recent global credit squeeze caused by the meltdown of risky U.S. mortgage loans may test the ability of the world's economy to keep expanding, the International Monetary Fund said Wednesday. The IMF also said government policymakers ...
    2007-10-09 05:10:00

  • Maine attorney general files complaint against mortgage lender

    CNBC - The company and the couple persuaded the borrowers' aunt and uncle to guarantee the loan without explaining the terms of the guarantee, according to the complaint. The loan is now in foreclosure. "Mortgage loans should only be made when the consumer ...
    2007-10-09 02:54:00

  • Thornburg's Low Loans (Forbes)

    Losses on mortgage disposals exceed previous estimate.
    2007-10-09 03:02:10

  • Exco Resources Closes Purchase Of Additional 45% Interest In Canyon ...

    RTT News - 10/9/2007 2:40:52 PM Tuesday, Thornburg Mortgage Inc. (TMA), a sub-prime lender, said it has revised its estimates on ... funded during the third quarter, which resulted from fundings made during September 2007 for which the mortgage interest rate had ...
    2007-10-09 11:41:00

  • Market Spotlight: CDOs remain weak

    CNBC - ... once high-flying collateralized debt obligation sector remains rocky due to its continuing exposure to below prime ... There is even renewed interest in lower-rate, higher-yielding junk bonds, which also were shunned during the credit market turbulence
    2007-10-09 09:54:00

  • Read the GOP debate transcript

    Detroit Free Press - We have a lot of ground to cover today, so in the interest of time, let's get right to it. Maria? BARTIROMO: OK, Chris. Senator ... low levels of unemployment, but Michigan is seeing ongoing, high levels of unemployment, almost twice the national rate. ...
    2007-10-09 04:42:00

  • Knight Capital Sets Up $140M Credit Line

    Forbes - The interest rate paid on these lines will represent a certain spread over the prime lending rate or the federal funds rate, depending on how much debt Knight Capital Group carries. JPMorgan Chase & Co. is the administrative agent of the bank group ...
    2007-10-09 06:26:00

  • Consumer spending to hit ‘3-year low’

    Times Online - The Treasury also pointed to the five interest-rate rises since August 2006, which it said “can be expected to impact on growth ... With a “more uncertain” global economic outlook as a result of the US sub-prime mortgage crisis, the Treasury gives ...
    2007-10-09 03:30:00

  • Pound Declines on View Economic Slowdown May Trigger Rate Cut

    Bloomberg - The implied yield on the three-month December 2007 interest- rate futures contract has fallen 25 basis points since the beginning ... the British economy remains strong and well positioned to deal with increased global insecurity,'' according to Prime ...
    2007-10-09 07:16:00

  • Northern Rock Soars on Buyout Hopes

    BusinessWeek - Stricken by the credit crisis, the British lender draws interest from U.S. private ... The lobby group argued that the rate charged for using the Bank of England's ... The Prime Minister said he was concerned about potential job losses at Northern ...
    2007-10-09 01:07:00

  • Westfield not worried over surging dollar

    News.com.au - WESTFIELD managing director Steven Lowy has brushed off the Australian dollar's latest leap and chance of another interest rate ... is not as rosy, with the UK government this week cutting growth forecasts and the US still suffering from the sub-prime ...
    2007-10-09 02:54:00

  • Cash it in

    CNN Money - You pay yourself back with interest - typically at the prime rate plus one percentage point. Tax alert If you don't pay back the loan in five years, you'll owe income taxes and a 10% penalty (you have longer if you used the money to buy a home). What ...
    2007-10-09 05:29:00

  • Mortgage Loan Busting Techniques

    Best Syndication - Our £100’000 mortgage would therefore translate into 22’000’000 Yen with an interest rate of maybe 2.0%, (i.e. the Japanese prime rate plus 0.9% banking interest). We would effectively reduce our monthly outgoings to a mere £166.67 and save ...
    2007-10-09 03:59:00

  • Fed rate-cut decision unanimous

    BBC Business - The US Federal Reserve voted unanimously for last month's half point interest rate cut, minutes from the decision making meeting ... This has been particularly pronounced in the sub-prime sector where borrowers were offered loans they were unable to ...
    2007-10-09 12:45:00

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