Mortgage and Financial News From 2007-9-12 Page 3

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  • Mortgage apps up in short week

    CNN Money - ... excluding fees, averaged 6.25 percent, down from 6.42 the previous week. Fixed 15-year mortgage rates fell to 5.9 percent from 6.10 percent in the previous week. The MBA's survey covers about 50 percent of all U.S. retail residential mortgage loans ...
    2007-09-12 04:21:00

  • Fitch Affirms 2 & Downgraded 6 from Bear Stearns ABS Trust 2005-1

    Forbes - The mortgage pool consists of fixed- and adjustable-rate mortgage loans secured by first and second liens on one- to four-family residential properties. At origination, approximately 13.68% of the loans may be subject to special rules, disclosure ...
    2007-09-12 02:00:00

  • U.S. Fed Says Minorities Denied Home Loans More Often (Update4)

    Bloomberg - The report indicated little change in the percentage of minority homeowners who rely on expensive mortgage credit. Black borrowers had high-cost loans 53.7 percent of the time last year, versus 54.7 percent in 2005. For Hispanic borrowers, it was 46 ...
    2007-09-12 02:50:00

  • Fitch Affirms 3 & Places 4 Classes of SABR 2005-FR1 on Rating Watch ...

    Forbes - The collateral on the transactions consist of 30 year fixed-rate and adjustable-rate mortgage loans secured by first- and second-lien deeds of trust on residential properties, all extended to subprime borrowers. All of the mortgage loans were ...
    2007-09-12 02:22:00

  • JER Investors Trust Inc. (NYSE: JRT) to Present at the Bank of

    MSN MoneyCentral - The Company's target investments include commercial mortgage backed securities, mezzanine loans and B-Note participations in mortgage loans, commercial mortgage loans and net leased real estate investments. JER Investors Trust Inc. is organized ...
    2007-09-12 01:25:00

  • Banks: Gauging the Subprime Spillover

    BusinessWeek - In turn, market prices for all loans—mortgage loans in particular—will remain highly uncertain. Third-quarter operating results for financial institutions will likely reflect the cost of this uncertainty. Our credit ratings continue to focus on ...
    2007-09-12 07:01:00

  • Fitch Affirms 2 & Downgrades 3 Classes from MLMI Trust Mortgage Loan ...

    Forbes - --Class M-2 downgraded to 'BBB+' from 'A'; --Class B-1 downgraded to 'BB' from 'BBB'; --Class B-2 downgraded to 'B- from 'BB', and assigned a Distressed Recovery (DR) rating of 'DR2' The trust fund consists primarily of sub-prime mortgage loans ...
    2007-09-12 02:36:00

  • First Horizon National Corp. Announces Further Reductions in Mortgage ...

    MSN MoneyCentral - First Horizon will continue to offer mortgage loans in these markets through First Horizon Home Loans. "This strategic shift will reduce our real estate exposure and position us appropriately for the expected ongoing contraction of the housing ...
    2007-09-12 03:05:00

  • Freddie Mac concerned about American Home Mortgage loans

    Newsday - Freddie Mac, a government-backed mortgage buyer, has filed court papers claiming bankrupt Melville-based lender American Home Mortgage's handling of the loans it continues to service have exposed more than 4,500 borrowers to increased tax liability ...
    2007-09-12 03:26:00

  • JPMorgan Cutting Some Mortgage Loans

    Street.Com - The New York banking company said in an internal memo on Wednesday that all mortgage loan locks and underwriting under the ChaseFlex "No Doc" or "No Ratio" programs must be completed by Sept. 19. As home prices soared over the last few years, Alt-A ...
    2007-09-12 04:38:00

  • Mortgage applications rose 5.5% last week: MBA (Market Watch)

    CHICAGO (MarketWatch) -- Volumes of mortgage applications filed last week were up a seasonally adjusted 5.5% as interest rates on loans to buy homes decreased, the Mortgage Bankers Association reported on Wednesday.
    2007-09-12 04:30:26

  • U.S. Federal Reserve Says Minorities Denied Loans More Often (Bloomberg.com)

    Sept. 12 (Bloomberg) -- Minority borrowers received higher- cost loans more frequently than white borrowers in 2006 and were denied loans more often, the U.S. Federal Reserve said in an analysis of mortgage lending practices in 2006.
    2007-09-12 08:48:42

  • U.S. Fed Says Minorities Denied Home Loans More Often (Update1) (Bloomberg.com)

    Sept. 12 (Bloomberg) -- Minority borrowers received higher- cost loans more frequently than whites in 2006 and were denied loans more often, the U.S. Federal Reserve said in an analysis of 2006 mortgage-lending practices.
    2007-09-12 09:18:52

  • Freddie Mac concerned about American Home Mortgage loans (Newsday)

    Freddie Mac, a government-backed mortgage buyer, has filed court papers claiming bankrupt Melville-based lender American Home Mortgage's handling of the loans it continues to service have exposed more than 4,500 borrowers to increased tax liability and possible foreclosure.
    2007-09-12 03:05:23

  • Aso, Abe's Likely Heir, Faces Sagging Economy, Emboldened Foes

    Bloomberg - Sept. 13 (Bloomberg) -- Taro Aso, the favorite to replace Shinzo Abe as Japan's next prime ... the economy on the whole returns to a condition allowing the central bank to normalize interest rates,'' Aso said. ``It's not as simple as saying a rate ...
    2007-09-12 04:31:00

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