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

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• Accredited Home trades $1 bln loans

  Reuters - Last: NEW YORK, Aug 21 (Reuters) - Accredited Home Lenders Holding Co (LEND.O: Quote , Profile , Research ), a struggling subprime mortgage lender, on Tuesday said it has agreed to trade $1 billion of loans under a 90-day purchase agreement with an ...
  2007-08-21 03:21:00

• Sub-prime fallout weighs on firms

  BBC News - In the UK, Northern Rock quantified its exposure to US sub-prime mortgages, with £200m invested in US collateralised debt obligations (CDOs) and £75m in US home equity mortgage-backed securities (MBS). These investments represented just 0.24% of ...
  2007-08-21 03:50:00

• Thrifts hit by housing market problems

  BusinessWeek - Mortgage delinquencies and home foreclosures have skyrocketed this year, causing layoffs at banks and mortgage lenders, such as Countrywide Financial Corp. and Capital One Financial Corp. Delinquencies rose to 1.26 percent of single-family mortgages ...
  2007-08-21 04:33:00

• Mortgage menagerie has chickens, goats, bulls

  Daily Oklahoman - No. The kind of bull that, when somebody slings too much of it, somebody else is liable to pithily observe: "Lordy, it's gettin' deep in here.” Well, we all better roll up our britches legs, because this home mortgage bull got deep and it's liable ...
  2007-08-21 12:37:00

• Congress reacts

  MSNBC - Fresh data showing a continuing rise in home foreclosures renewed debate in Washington Tuesday over whether the government has responded adequately to the meltdown of the mortgage market and the resulting turmoil in the financial system. U.S ...
  2007-08-21 04:40:00

• ANZ Bank 'still anticompetitive' on mortgages

  News.com.au - ANZ Bank has been accused of anticompetitive mortgage broking, after legal action from the competition watchdog over alleged price-fixing. The accusation from Brisbane-based mortgage broker Refund Home Loans revolves around money given to customers ...
  2007-08-21 04:19:00

• Lenders besiege troubled American Home

  Chicago 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. Meanwhile, Countrywide Financial Corp., the nation's largest ...
  2007-08-21 06:53:00

• Mortgage company may reopen this week

  MLive.com - The Charter Funding closure follows the collapse earlier this month of American Home Mortgage Investment Corp., which operated an American Home Mortgage lending office on Whites Road in Kalamazoo. The Melville, N.Y.-based lender entered Chapter 11 ...
  2007-08-21 02:24:00

• Mortgage woes have local impact

  Knoxville News Sentinel - A Countrywide Banking and Home Loans office in Glendale, Calif., is shown in an April photo. According to reports, the nation’s largest mortgage lender has begun laying off staff as part of its effort to ride out the credit crunch rocking the home ...
  2007-08-21 03:29:00

• Capital One to shutter mortgage-banking unit, cut 1,900 jobs

  MSN MoneyCentral - The company said it plans to continue originating and selling mortgage loans through its home loans division and bank branches where it has direct interactions with customers and doesn't rely on brokers. Executives say this will provide greater ...
  2007-08-21 02:17:00

• On The Move For Tuesday, Aug. 21

  Forbes - Major movement Tuesday in the retail sector following second-quarter earnings announcements from some of the nation's largest discount chains and office supply providers. But first, the nation's largest home mortgage lender is on the move as rumors ...
  2007-08-21 05:16:00

• Cash infusion made available to mortgage lenders

  Arizona Daily Star - WASHINGTON — The Federal Home Loan Bank System has increased low-cost lending to financial institutions in an effort to bolster credit stability. As the housing crisis worsens and the Federal Reserve has swooped into the market to ensure liquidity ...
  2007-08-21 01:05:00

• Accredited Home selling $1 billion mortgage loans

  Washington Post - NEW YORK (Reuters) - Struggling subprime mortgage lender Accredited Home Lenders Holding Co (LEND.O) on Tuesday said it agreed to sell $1 billion of home loans to an unnamed investor, a move it said would limit its exposure to margin calls ...
  2007-08-21 03:36:00

• Mortgage lender abolishes 500 jobs (The Plain Dealer)

  Los Angeles- Countrywide Financial Corp., the nation's largest mortgage lender, said Monday it has eliminated about 500 jobs as it tries to ride out problems from a credit crunch that has rocked the home loan industry.
  2007-08-21 01:23:50

• Countrywide cuts 500 mortgage jobs (Atlanta Journal-Constitution)

  Countrywide Financial Corp., the nation's largest mortgage lender, said Monday it has eliminated about 500 jobs as it tries to ride out problems from a credit crunch that has rocked the home loan industry. The company said the cuts came in the subprime lending unit of its Wholesale Lending Division and its Full Spectrum Lending unit, which handles mortgages given to customers with minor credit ...
  2007-08-21 10:25:51

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