Mortgage and Financial News From 2008-2-12 Page 10

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  • Meadowbrook Insurance Reports Record Annual Net Income - HULIQ

    Meadowbrook Insurance Reports Record Annual Net IncomeHULIQ, NC - 13 minutes agoWhile our investment portfolio includes investments in mortgage-backed and agency-backed securities, we do not have any direct exposure to any sub-prime ...
    2008-02-12 09:09:10

  • Mortgage 'lifeline' falls short, critics say (Pittsburgh Tribune-Review)

    The Bush administration announced a program Tuesday aimed at helping homeowners stave off foreclosure, but critics say the plan will not solve the crisis.
    2008-02-12 09:07:27

  • Earlier Subprime Rescue Falters (WallStreet Journal via Yahoo! Finance)

    Initial steps to freeze interest rates or expedite refinancing for subprime borrowers appear to be having a limited impact on the mortgage crisis, stoking criticism of a new plan to help borrowers who are late on payments.
    2008-02-12 09:08:30

  • Commonwealth Bank's Profit Growth Slows, Shares Slump (Update4) (Bloomberg.com)

    Feb. 13 (Bloomberg) -- Commonwealth Bank of Australia, the nation's biggest mortgage lender, posted the slowest profit growth in more than three years as funding costs and provisions for bad debts increased. The shares fell to a 16-month low.
    2008-02-12 09:12:12

  • Lenders offer 30-day 'pause' on some foreclosures (The Palm Beach Post)

    Six of the nation's biggest lenders said Tuesday that they would grant a 30-day freeze on home foreclosures to certain delinquent borrowers, a White House-backed reprieve that offers only partial relief to troubled borrowers in Palm Beach County.
    2008-02-12 09:13:35

  • Rise In Foreclosures Hurts Prices Of Homes Sold In Hard-Hit States (The Tampa Tribune)

    A growing share of home sales are from foreclosures, especially in states hardest hit by the housing bust. In some parts of California lately, nearly 50 percent of home sales come from foreclosed houses.
    2008-02-12 09:14:50

  • The Mortgage Crisis | Lenders offer lifeline (The State)

    WASHINGTON — Six major lenders, worried about the deepening mortgage crisis, said Tuesday they would grant a 30-day freeze on many foreclosures in order to consider delinquent borrowers’ pleas for lower monthly payments. Standing with bank representatives, Treasury Secretary Henry Paulson said Project Lifeline is needed because the 2-year-old mortgage mess is still threatening to separate many ...
    2008-02-12 09:15:34

  • White House, lenders announce 'lifeline' for homeowners nearing foreclosure (The Press-Enterprise)

    The Bush administration Tuesday announced a program that would give people on the brink of losing their homes a 30-day reprieve to renegotiate their mortgages.
    2008-02-12 09:18:32

  • Stocks End Mixed on Economic Worries

    WTOP Radio - ... dismal week with a mixed performance Friday as investors grappled with fears about insurers of distressed mortgage-backed ... The biggest losers among the 30 Dow companies were financial companies American Express Co. and JPMorgan Chase & Co. Broader ...
    2008-02-09 02:49:00

  • AP TECHNOLOGY NEWS

    Ann Arbor News - Secretary-General Ban Ki-moon on Monday urged all nations to join private companies, civic groups and individuals this year ... AP) — Barry Diller's IAC/InterActiveCorp lost $369.9 million in the fourth quarter, on a big writedown at its mortgage ...
    2008-02-11 12:02:00

  • Reader Voices

    Bucks County Courier Times - It seems to me that all the mortgage companies in trouble with loans should act. I don't mean foreclose or reduce the amount of money owed, but a true redoing of the loan. Let the people who are in trouble start over without all those lawyers' fees ...
    2008-02-10 11:49:00

  • AIG sparks fears over European insurers

    Financial Times - The move reignited concerns that insurers may be the next group of companies to reveal big writedowns on securities affected by the US subprime mortgage market. Even with AIG’s losses, together with a $1.1bn loss at Swiss Re , and XL’s $1.5bn ...
    2008-02-12 03:07:00

  • Don't blame market breakdown on subprimes

    Christian Science Monitor - In the major markets, there is tremendous dependency on alternatives to the standard 30-year fixed-rate mortgage, which has created a dependency on the least scrupulous mortgage companies and lenders. The issue of affordability is not ...
    2008-02-12 09:30:00

  • Health-care execs testify National Century routinely overfunded ...

    Columbus Business Journal - National Century exec says colleagues lied to investors [Columbus] Mortgage crisis to slow growth in most metros [Buffalo] ... Two executives of health-care companies testified in the National Century Financial Enterprises Inc. trial Tuesday that the ...
    2008-02-12 03:57:00

  • Indymac Bancorp weathers first annual loss

    San Gabriel Valley Tribune - Perry sought to put Indymac's situation into perspective, however, by noting that more than 225 mortgage companies have failed nationwide and more than 100,000 jobs have been lost in the industry. And Countrywide Financial Corp., the nation's ...
    2008-02-12 03:57:00

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