Mortgage and Financial News From 2008-3-5 Page 6

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  • UPDATE 2-US House Democrats eye gov't mortgage buyouts bill

    Reuters South Africa - UPDATE 2-US House Democrats eye gov't mortgage buyouts bill ... The goal would be to have the lenders ... recognize their losses," Frank told reporters.
    2008-03-05 10:52:00

  • It’s crunch time for borrowers

    Times Online - HUNDREDS of thousands of borrowers have been warned that they will be frozen out of the top new mortgage deals as the clampdown on lending by Britain’s major banks and building societies gathers pace. Brokers have warned that lenders are becoming ...
    2008-03-01 03:57:00

  • Analyst says Thornburg may go bankrupt

    MSN MoneyCentral - Shane Jr. pointed out in a note to investors that Thornburg, which issues mortgage loans too big for government-sponsored companies to buy, has faced $570 million in "margin calls" -- or lenders demanding their money back -- in the past few weeks.
    2008-03-05 12:17:00

  • Ben Says It Like It Is

    BusinessWeek - Bernanke is calling on lenders and mortgage securities investors to renegotiate problem loans or to let borrowers out from under them. Bernanke said the number of such subprime mortgage workouts rose from around 250,000 in the third quarter of 2007 ...
    2008-03-05 01:22:00

  • Fed tells banks to report mortgage restructurings under HOPE NOW ...

    CNBC - Earlier today, Treasury Secretary Henry Paulson, speaking to a group of economists, said he would be pushing hard to see, in the next month or so, consistent progress and consistent reporting of banks', mortgage lenders' and mortgage servicers' loan ...
    2008-03-03 12:34:00

  • Critics Debate New Mortgage Aid

    Washington Post - Though Longbrake is responsible for monitoring the progress of the initiative, he said his assessment was based on his understanding of how mortgage lenders have traditionally operated and not on specific data.
    2008-03-03 09:31:00

  • Credit crunch hits buy-to-let sector

    International Herald Tribune - Instructions to let residential properties fell in the fourth quarter of 2007 -- the first decline since the Royal Institution of Chartered Surveyors (RICS) started its survey in 1998 -- as lenders tighten their criteria and the range of mortgage ...
    2008-03-05 04:07:00

  • First Magnus' liquidation plan approved

    CNBC - First Magnus was among a number of mortgage lenders forced to seek shelter in Chapter 11 amid a slump in the U.S. housing market and resulting credit crunch.
    2008-03-05 02:48:00

  • Organised crime turning to mortgage fraud

    The Independent - The FSA said it had received more than 200 referrals from lenders suspicious about potentially fraudulent mortgage brokers over the past 18 months.
    2008-03-05 03:59:00

  • Banks Willing to Rework Mortgages

    Forbes - Countrywide is among the dozens of mortgage lenders that have battled a spike in mortgage defaults and foreclosures, especially in subprime loans.
    2008-03-05 03:02:00

  • Merrill quits subprime lending, cuts 650 jobs

    Boston Globe - Dozens of mortgage lenders have closed or slashed staffing in the last year because of the U.S. housing slump. Three other Wall Street banks -- Bear Stearns Cos , Lehman Brothers Holdings Inc and Morgan Stanley -- have also ...
    2008-03-05 02:48:00

  • Fed's Bernanke Urges Mortgage Industry to Prevent More Foreclosures

    Stockhouse Canada - Federal Reserve Chairman Ben Bernanke, speaking in Orlando to a community banking conference, said that even though mortgage lenders and servicers have scaled up their efforts, more can and should be done to work with troubled borrowers.
    2008-03-05 02:26:00

  • Buy-to-let boom may be stalling

    BBC Business - But this contradicted recent figures from mortgage lenders, which suggested the buy-to-let market was thriving. "Access to the buy-to-let market became harder for would-be landlords as mortgage products became scarce," said Rics.
    2008-03-05 04:42:00

  • Paulson resists calls for drastic US mortgage measures

    Guardian Unlimited - He said he was far more in favor of the Treasury-backed "Hope Now" efforts by mortgage lenders and servicers to try to voluntarily renegotiate terms that enable borrowers to keep up their payments.
    2008-03-05 03:52:00

  • Q&A: How mortgage grading system would work

    Financial Times - The Council of Mortgage Lenders echoes this concern, saying anything that implied “driving a wedge between asset qualities” risked making investors more cautious about the overall quality of UK mortgages than the low level of defaults justified.
    2008-03-05 05:40:00

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