Mortgage and Financial News From 2007-12-6 Page 2

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  • What the Mortgage Deal Does and Doesn't Do (NPR)

    President Bush announced a deal with the mortgage industry Thursday to freeze interest rates for up to five years for borrowers with subprime mortgages. The deal is a "breakthrough" to some and a "menace" to others. Here, a look at what deal does and doesn't do.
    2007-12-06 05:12:40

  • Helping American Families Keep Their Homes

    Forbes - The FHA is also on track to start charging mortgage insurance premiums based on the individual risk of each loan, using traditional underwriting standards. Risk-based pricing will expand access and enable FHA to help even more ...
    2007-12-06 11:20:00

  • Mortgage bond insurer seeks more cash as it battles to maintain AAA ...

    Times Online - ... risk “sub-prime” home loans to use up so much of MBIA’s cash that it will be unable to make good all the payments required on some of the mortgage bonds it insures. Other large mortgage bond insurers, such as Ambac, Security Capital Insurance ...
    2007-12-06 02:18:00

  • 'Piggyback' Loans Allowed by Freddie Fed Mortgage Risks

    Washington Post - For a glimpse of the risks that infected the mortgage business in recent years, consider a small slice of what happened at ... mortgages that cover more than 80 percent of a home's value -- unless the loan comes with a safety net, such as an insurance ...
    2007-12-06 09:28:00

  • Flood insurance definitely a moneymaker for our banks

    Miami Herald - • Further to Debra Leibowitz's feedback in Action Line Dec. 4: Purchasing flood insurance is a major moneymaker for the banks. For the last two years, my mortgage holder, Bank of America, has told me that it's willing to buy it for me. This year ...
    2007-12-06 12:24:00

  • A.M. Best Assigns and Affirms Ratings of Service Life & Casualty ...

    Forbes - ... company's overall decline in credit insurance premiums, narrow operating profile, exposure to regulatory issues in the shrinking auto related credit insurance business and combined high level of alternative investments, such as real estate, mortgage ...
    2007-12-06 01:28:00

  • The PMI Group, Inc. Endorses New Foreclosure Prevention Initiative

    Forbes - Through its wholly and partially owned subsidiaries, PMI offers residential mortgage insurance and credit enhancement products, financial guaranty insurance, and financial guaranty reinsurance. PMI has operations in Asia, Australia and New Zealand ...
    2007-12-06 11:34:00

  • Countrywide Applauds Mortgage Freeze Plan

    Forbes - ... and flood determinations; offers banking services which include depository and home loan products; conducts fixed income securities underwriting and trading activities; provides property, life and casualty insurance; and manages a captive mortgage ...
    2007-12-06 02:33:00

  • Credit squeeze expected

    Arlington Heights Daily Herald - The MGIC mortgage insurance premium increases, which were scheduled for announcement the first week of December, are expected to have the heaviest impacts on borrowers making down payments of less than 3 percent and whose FICO scores are below 660 ...
    2007-12-06 10:11:00

  • Bluestone Raises Yield to Sell Subprime Mortgage Debt (Update2)

    Bloomberg - Non-conforming borrowers don't meet traditional bank lending criteria on credit certification or loan size and don't qualify for mortgage insurance. Subprime loans are made to people with weak credit or high debt. To contact the reporter ...
    2007-12-05 03:53:00

  • Ex-UnitedHealth CEO Settles With SEC

    Newsday - He also agreed to give up use of the company plane and company-funded life and health insurance he would have been eligible ... Delta Financial to file for bankruptcy Bush mortgage plan could help some Punchlines Long Beach students suspended after fight ...
    2007-12-06 09:21:00

  • Battle Lines Form Over Mortgage Plan

    Wall Street Journal - ... furniture, and that's the first time you call your lenders, then you're probably too late," said Steve Bartlett, president of the Financial Services Roundtable, a trade association of the country's 100 largest banks, mortgage servicers, insurance ...
    2007-12-06 08:09:00

  • Bluestone Sells Subprime Bonds at Record High Yields (Update3)

    Bloomberg - Non-conforming borrowers don't meet traditional bank lending criteria on credit certification or loan size and don't qualify for mortgage insurance. Subprime loans are made to people with weak credit or high debt. Final 2007 Sale ...
    2007-12-06 10:25:00

  • Local business briefs: Another indictment in a mortgage fraud case (The Kansas City Star)

    A federal grand jury has charged a seventh defendant in the $14 million mortgage fraud case in which two others already have pleaded guilty. The defendant, 38-year-old Ronald E. Brown Jr. of Kansas City, faces one count each of conspiracy to commit mortgage fraud, interstate transportation of stolen funds, money laundering and wire fraud.
    2007-12-06 08:39:47

  • Bluestone Raises Yield to Sell Subprime Mortgage Debt (Update2) (Bloomberg.com)

    Dec. 7 (Bloomberg) -- Bluestone Group Ltd., an Australian mortgage lender to borrowers who don't meet bank rules, raised the premium paid to buyers fivefold to sell A$400 million ($350 million) of bonds backed by subprime and non-conforming loans.
    2007-12-06 08:45:07

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