Mortgage and Financial News From 2008-3-5 Page 10

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• Detroit City Council Rejects Water Rate Hikes (ClickOnDetroit)

  The Detroit City Council Tuesday overwhelmingly rejected a proposed water rate hike for the city and its suburbs.
  2008-03-05 12:29:25

• Investors Push Firm for Credit-Risk Data

  CFO.com - The ongoing credit crunch and subprime-mortgage saga has heightened investors' demand for knowing how much risk exposure their companies face. In response to investors' questions about Principal Financial Group's ties to bond insurers and mortgage ...
  2008-03-05 01:00:00

• Mortgage belt gets even tighter

  News.com.au - HOME buyers face their 12th consecutive interest rate rise, as the Reserve Bank reins in a booming economy at a time of rising housing costs and share market turmoil. As investors yesterday wiped almost $40 billion off the value of Australian shares ...
  2008-03-03 01:46:00

• Ambac Seeks $1.5 Billion in Stock, Equity Unit Sales (Update4)

  Bloomberg - Responding to pressure to shore up capital, Ambac cut its dividend last week and said it will suspend writing guarantees on debt, including mortgage-backed bonds, to bolster capital, echoing MBIA's plan.
  2008-03-05 11:49:00

• U.S. consumer bankruptcies leap 15 pct in February

  Forbes - But the 2008 estimate could go even higher "if this contagion affecting the home mortgage market continues," Gerdano said. Last week, Senate Republicans blocked a Democratic-written bill that would change federal bankruptcy laws to curb rising home ...
  2008-03-03 02:07:00

• Ex-BOE Governor George Sees Risk of `Further Shocks' (Update1)

  Bloomberg - The Bank of England and central banks around the world are struggling to push down market lending rates, which soared in August on concern about U.S. subprime mortgage losses and led to the run on U.K. lender Northern Rock Plc.
  2008-03-05 10:59:00

• Champions for Minority Homeownership Encouraged to Apply for HOPE ...

  Forbes - Father Vien The Nguyen, Mary Queen of Vietnam Church, New Orleans (Public Policy); and Berenice Gomez, Harvest Home Mortgage, Melville, N.Y. (Real Estate Brokerage)
  2008-03-05 07:45:00

• Ambac to issue $1.5-billion in new capital

  Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics Education ... largest U.S. bond insurer more funds to cover the billions of dollars of claims it could face after insuring subprime mortgage ...
  2008-03-05 12:17:00

• Trading Retirement Dollars for a Mortgage

  US News and World Report - It would be a way to pay the interest to myself (to my IRA), rather than to a mortgage company. ... penalty) up to $10,000 per individual or $20,000 per married couple toward what it considers the purchase of a "first home.
  2008-03-05 10:09:00

• Pacific West's New Lifetime Home Price Guarantee Starting to Overcome ...

  Forbes - The thing that will make home prices stop falling is the very same thing that will push mortgage rates higher," says Jim Svinth, chief economist at mortgage firm Lending Tree." (excerpted from Time Magazine, February 25 ...
  2008-03-05 01:36:00

• 14 Calif. counties get maximum FHA limit

  CNBC - The idea is to stoke investor demand for securities made up of more expensive mortgages -- so-called jumbo loans -- backed by Fannie and Freddie, the two biggest mortgage financers in the country. That would drive interest rates lower and spur home ...
  2008-03-05 11:34:00

• House Democrats eye government mortgage buyouts bill

  Washington Post - ... as the rate of new foreclosures hits record levels and millions of marginal borrowers struggle to make payments on home ... One of the tools that banks have to work with homeowners that are facing difficulty making a mortgage payments, in addition to ...
  2008-03-05 01:22:00

• Bernanke calls for mortgage forgiveness

  Stockhouse Canada - FEDERAL Reserve chairman Ben Bernanke, raising the level of urgency in dealing with the US housing crisis, has called on lenders to aid struggling home owners by reducing their principal - the sum of money they borrowed - to lessen the likelihood of ...
  2008-03-05 12:17:00

• Bernanke: Bankers, Heal Yourselves

  US News and World Report - Ben Bernanke made an attempt to prop up falling home prices yesterday when he told those community bankers in Orlando to, basically, eat the negative home equity of their mortgage borrowers. But Ed Yardeni notes that the Federal Deposit Insurance ...
  2008-03-05 11:56:00

• Q4 Home Price Drop 1st Straight Drop in 26 Yrs.

  Stockhouse Canada - NEW YORK -- U.S. home prices dropped in the fourth quarter, marking the first consecutive quarters of decline since 1982, Freddie Mac said on Tuesday. The second-largest U.S home funding company said its Conventional Mortgage Home Price Index, or ...
  2008-03-05 11:27:00

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