Mortgage and Financial News From 2007-11-22 Page 8

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  • UPDATE 3-Brit says full year on track, shares fall

    Reuters - LONDON, Nov 22 (Reuters) - UK-listed Brit Insurance (BRE.L: Quote , Profile , Research ) said on Thursday its full-year result ... of their value since the start of August, hit by wider fears of the financial sector's exposure to the subprime mortgage ...
    2007-11-22 12:05:00

  • Japan's Topix Stock Index's Drop Signals Bear Market (Update3)

    Bloomberg - Exclusive Worldwide Regions Markets Economy Politics Industries Consumer Energy Finance Health Care Insurance Real Estate Technology ... became the first of the world's 10 biggest stock markets to enter a bear market since the summer's U.S. subprime-mortgage ...
    2007-11-22 01:42:00

  • OECD: US mortgage losses could reach $300b

    Stockhouse Canada - The OECD warns that the worst of the US housing market downturn had not yet been seen and would continue to depress mortgage-related debt products and derivatives held by banks, hedge funds and insurance companies. 'We still have not hit the worst ...
    2007-11-22 09:20:00

  • MGIC Investment cut to 'A-' on challenging market conditions - S&P

    CNBC - MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services lowered its counterparty credit and financial strength ratings on Mortgage Guaranty Insurance Corp, MGIC Indemnity Co, and MGIC Australia Pty Ltd (collectively referred to as MGIC) to ...
    2007-11-20 03:56:00

  • World Markets Are Mixed on Thanksgiving

    San Francisco Gate - But concern over the exposure of insurance companies to the problems in the U.S. mortgage market dragged down the broader Topix index, which dipped 0.09 percent to 1,437.38 points. Finance Minister Fukushiro Nukaga and Bank of Japan board member Seiji ...
    2007-11-22 11:22:00

  • Japan's Nikkei index rises 0.3 percent in pre-holiday session; Topix ...

    International Herald Tribune - But concern over the exposure of insurance companies to the problems in the U.S. mortgage market dragged down the broader Topix index of all the Tokyo Stock Exchange First Section issues. The Topix fell 1.34 points, or 0.09 percent, to 1,437.38 points ...
    2007-11-22 09:20:00

  • NEWSLINE - BUSINESS

    Patriot Ledger - Eastern’s Equity Builder program offers grants to eliminate mandatory monthly mortgage insurance payments for loans with down payments that are smaller than 20 percent of a purchase price. The program also tries to help pay a portion of a qualified ...
    2007-11-22 04:55:00

  • Australia, Japan Bond Risk Rises to Record After CDO Downgrades

    Bloomberg - Exclusive Worldwide Regions Markets Economy Politics Industries Consumer Energy Finance Health Care Insurance Real Estate Technology ... and Japanese companies defaulting on their debt rose to the highest on record as downgrades on securities tied to mortgage ...
    2007-11-22 09:06:00

  • Global Derivatives Market Expands to $516 Trillion (Update1)

    Bloomberg - Exclusive Worldwide Regions Markets Economy Politics Industries Consumer Energy Finance Health Care Insurance Real Estate Technology ... have been turning to credit derivatives as a way to speculate on a growing risk of defaults amid record U.S. mortgage ...
    2007-11-22 09:06:00

  • MBA Study Finds Increase in FHA Premiums Would Result in Higher Rents (Multi-Housing News)

    Washington, D.C. —An increase in the Mortgage Insurance Premium (MIP) for the FHA multifamily financing program as proposed by the Department of Housing and Urban Development (HUD) will affect primarily affordable housing developments, according to a study by the Mortgage Bankers Association (MBA).
    2007-11-22 06:02:54

  • Japan's Nikkei index rises 0.3 percent (Lexington Herald-Leader)

    Japan's benchmark Nikkei stock index rose 0.3 percent in a pre-holiday session as the U.S. dollar rebounded against the yen from a 2 1/2-year low hit overnight. But concern over the exposure of insurance companies to the problems in the U.S. mortgage market dragged down the broader Topix index of all the Tokyo Stock Exchange First Section issues. The Topix fell 1.34 points, or 0.09 percent, to ...
    2007-11-22 06:27:57

  • Cerberus plans to merge Rock with US mortgage unit ResCap

    The Independent - ResCap, through a subsidiary called GMAC-RFS, is already one of the top 20 mortgage lenders in the UK, selling loans through independent financial advisers rather than through a network of branches like Northern Rock. Based in Bracknell, Berkshire ...
    2007-11-21 03:48:00

  • How Britain can avoid a subprime disaster

    Financial Times - All this is potentially bad news for mortgage lenders. Earlier this year, Northern Rock was expanding its lending rapidly with the help of mortgages that, in some cases, were at the extreme ends of loan-to-income and loan-to-value ratios. It was also ...
    2007-11-22 11:29:00

  • Sector roundup: Mortgage lenders suffer Freddie Mac's $2B loss; Google ...

    CNBC - NEW YORK (AP) _ Shares of mortgage lenders mostly fell Wednesday afternoon in the aftermath of Freddie Mac's $2 billion loss. NEW YORK (AP) _ Shares of Google Inc. rose and Yahoo Inc. declined Wednesday as comScore Inc. said that, compared with the ...
    2007-11-21 03:05:00

  • GMAC mulls options for troubled lending unit

    CNN Money - Like other mortgage lenders, ResCap has been struggling because the mortgage market has imploded. There had been speculation about whether Cerberus, through GMAC, would keep ResCap on its feet or let it go through bankruptcy. Also Wednesday, ResCap ...
    2007-11-22 08:16:00

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