Mortgage and Financial News From 2007-8-21 Page 15

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  • Capital One Financial to close residential mortgage business

    International Herald Tribune - During the first six months of 2007, GreenPoint was the 23rd largest mortgage company after making $12.3 billion in loans, a 30 percent drop from the period a year ago, according to Inside Mortgage Finance, a trade publication. Although GreenPoint ...
    2007-08-21 10:21:00

  • Firm shuts mortgage unit, cuts 1,900 jobs

    Buffalo News - GreenPoint, based in Novato, Calif., specializes in no-documentation and Alt-A mortgage loans for borrowers with slightly better credit than subprime borrowers. Fairbank said that market has seen a “significant reduction in liquidity and continuing ...
    2007-08-21 10:42:00

  • Ahead of the Bell: S&Ls financial health

    Boston Globe - Thrifts make mortgage loans and take in savings deposits. They are not big players in the especially troubled subprime mortgage sector of loans made to borrowers with riskier credit. But as housing woes spread beyond the subprime sector, investors are ...
    2007-08-21 10:49:00

  • US boosting loans to lenders

    Boston Globe - As the housing crisis worsens and the Federal Reserve has swooped into the market to ensure liquidity, the 12 regional banks are making more cash available to banks and thrifts that make mortgage loans. Created by Congress during the Depression, the ...
    2007-08-21 07:07:00

  • Capital One Closes GreenPoint Mortgage

    The Ledger - GreenPoint, based in Novato, Calif., specializes in no-documentation and "Alternative A" mortgage loans - geared for those with slightly better credit than subprime borrowers. As the nation's housing market has cooled, mortgage lending industry has ...
    2007-08-21 09:52:00

  • Fannie, Freddie could help to stimulate jumbo mortgage loans

    San Francisco Gate - Some lawmakers are calling on Congress to stimulate the moribund jumbo-loan market by letting Fannie Mae and Freddie Mac purchase substantially larger loans on homes in high-cost metro areas. Today, Fannie and Freddie can purchase single-family loans ...
    2007-08-21 11:11:00

  • Lenders demand that bankrupt American Home hand over loans it services (Tacoma News Tribune)

    American Home Mortgage Holdings Inc. has “started to get bombarded” with demands from its lenders that it hand over home loans it’s servicing, an attorney for the company said Monday.
    2007-08-21 08:24:04

  • Capital One Closes GreenPoint Mortgage, Idling 1,900 (Update2) (Bloomberg.com)

    Aug. 20 (Bloomberg) -- Capital One Financial Corp. shut its GreenPoint Mortgage unit today, saying that weak demand from investors who buy residential home loans made it too hard to turn a profit. About 1,900 jobs will be lost.
    2007-08-20 10:44:47

  • Capital One shuts wholesale mortgage unit, cutting 1900 jobs (Market Watch)

    SAN FRANCISCO (MarketWatch) -- Capital One Financial said late Monday that it is closing its wholesale mortgage business and cutting 1,900 jobs as the credit card giant loses confidence in the profitability of originating home loans, then selling them in secondary markets.
    2007-08-20 11:19:37

  • Capital One to shutter GreenPoint Mortgage (UPI)

    U.S. bank holding company Capital One Financial Corp. said Monday it would shut down its GreenPoint mortgage unit that specialized in "non-conforming" loans.
    2007-08-20 11:29:09

  • Fannie, Freddie could help to stimulate jumbo mortgage loans (Addict 3D)

    Some lawmakers are calling on Congress to stimulate the moribund jumbo-loan market by letting Fannie Mae and Freddie Mac purchase substantially larger loans on homes in high-cost metro areas.
    2007-08-21 07:50:20

  • EU inquiry deadline for Merrill Lynch, Abbey National Mortgage Loans Sept 18 (Sharewatch)

    BRUSSELS (Thomson Financial) - The European Commission said the deadline for its inquiry into Merrill Lynch & Co Inc and Banco Santander Central Hispano unit Abbey National's proposed joint venture in mortgage loans services is set for Sept 18.
    2007-08-20 10:28:32

  • Fannie, Freddie could help to stimulate jumbo mortgage loans (San Francisco Chronicle)

    Some lawmakers are calling on Congress to stimulate the moribund jumbo-loan market by letting Fannie Mae and Freddie Mac purchase substantially larger loans on homes in high-cost metro areas. Today, Fannie and Freddie can purchase single-family loans up to $...
    2007-08-21 07:35:53

  • Hurricane Dean Slams Into Mexico, May Regain Strength in Gulf

    Bloomberg - Five-day forecasts show Dean crossing the Gulf and making its second Mexican landfall at approximately 8 a.m. tomorrow near Veracruz state, a producer of coffee, sugarcane and vegetables. In Chetumal, on the border of Belize, Mexicans took ...
    2007-08-21 06:17:00

  • Mixed grades on Fed move

    Chicago Tribune - Although Monday marked only a second day, in trading terms, since Bernanke and fellow policymakers ratcheted a key interest ... They said worries remain about a global freeze-up in the ability to borrow money, especially for mortgages and high-risk ...
    2007-08-21 06:53:00

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