Mortgage and Financial News From 2007-8-19 Page 28
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Credit-Rating Companies Under Scrutiny After Stocks Tumble
Donga.com - In the aftermath of the U.S. sub-prime mortgage crisis, the trustworthiness of world-renowned credit-rating companies has fallen under suspicion. The European Union (EU) blamed the world’s top three credit-rating companies, Moody’s, S&P, and ...
2007-08-17 05:56:00 -
Tucson's First Magnus Financial cuts off loan funding, sends
MSN MoneyCentral - First Magnus Financial Corp., one of the nation's largest privately held mortgage companies has fallen victim to the mortgage industry meltdown. The Tucson company's Web site and phone service say First Magnus will not fund any future mortgage loans ...
2007-08-16 12:54:00 -
Companies: Countrywide Financial Corp
CNBC - However, Friday's move was expected to help with a severe cash crunch facing many businesses, including mortgage companies, which are having trouble getting loans for short-term financing needs. In a statement explaining the action, the Fed said that ...
2007-08-17 04:09:00 -
This financial crisis isn't over yet
Daily Telegraph - Spurred on by hefty commissions, and a load of bunkum about "building dreams", US mortgage companies became reckless, diluting their credit checks. An on-line cottage industry prospered, providing false references for mortgage applicants. Yet, as ...
2007-08-18 11:46:00 -
Higher Caps Urged For Fannie, Freddie
Washington Post - Leading Democrats pressed their case yesterday to give Fannie Mae and Freddie Mac a larger role in the troubled mortgage markets, arguing that the two companies should be allowed to buy bigger mortgages and more of them. The market upheaval has ...
2007-08-18 03:54:00 -
Higher Caps Urged For Fannie, Freddie (Washington Post)
Leading Democrats pressed their case yesterday to give Fannie Mae and Freddie Mac a larger role in the troubled mortgage markets, arguing that the two companies should be allowed to buy bigger mortgages and more of them.
2007-08-18 01:51:30 -
Mortgage fallout may make it tougher to qualify (Los Angeles Times)
WASHINGTON -- The mortgage credit crunch is not only affecting interest rates that home buyers are quoted, but also is triggering changes in less visible areas such as minimum credit scores, geographic location and types of properties, even controls on who orders credit reports.
2007-08-18 07:01:49 -
American Mortgage runs out of money, lays off most of staff (Daily Local News)
MELVILLE, N.Y. (AP) — Some companies fade away over time. American Home Mortgage Investment Corp. is disappearing right before its 7,000 employees' eyes. The latest victim of the subprime mortgage implosion has run out of money, and now its workers have run out of time.
2007-08-17 06:37:20 -
Fallout from mortgage mess (Seattle Times)
The mortgage credit crunch not only is affecting interest rates that homebuyers are quoted but is triggering changes in less-visible areas...
2007-08-18 07:29:20 -
Mortgage crisis may hurt sales this fall (Boston Globe)
The escalating mortgage crisis is expected to further depress house sales and prices in Massachusetts during the fall selling season as some potential buyers' loan applications are rejected or buyers delay making a purchase to see whether prices fall farther.
2007-08-18 08:44:53 -
Credit-Rating Companies Under Scrutiny After Stocks Tumble (donga.com)
In the aftermath of the U.S. sub-prime mortgage crisis, the trustworthiness of world-renowned credit-rating companies has fallen under suspicion. The European Union (EU) blamed the world’s top three credit-rating companies, Moody’s, S&P, and Fitch for being late to respond to the sub-prime crisis.
2007-08-17 06:06:06 -
Mortgage crisis hits home in N.C. (News 14 Carolina)
HUNTERSVILLE, N.C. -- The Federal Reserve cut its key discount rate by 0.5 percent Friday morning. That, coupled with North Carolina’s new rules for mortgage lending companies means getting a home loan is getting more difficult.
2007-08-17 09:45:44 -
The cautionary tale of Aegis Mortgage's bankruptcy (Fortune via Yahoo! Finance)
Buyout firms like to present themselves as a can't-fail combination of operational genius and financial support that can heal sick businesses and create thriving companies. But sometimes, as in the case of Aegis Mortgage, genius fails and bankruptcy is declared.
2007-08-17 08:33:00