Mortgage and Financial News From 2007-9-9 Page 5
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Bond Funds May Be Next to Feel Subprime Shockwaves
CNBC - Critics charge that Standard & Poor's, Moody's Investors Service and Fitch Ratings routinely give triple-A ratings -- the safest rating there is -- to far too many mortgage-backed bonds backed by subprime home loans. "The rating agencies just ...
2007-09-09 12:31:00 -
US real estate
Financial Times - Real estate investors have long made the most of a red-hot market for commercial mortgage-backed securities. As with leveraged loans for the private equity industry, lax lending standards have underpinned cheap financing on transactions where debt ...
2007-09-09 11:55:00 -
OPEC unlikely to cut oil production
CNN Money - Subprime mortgage lenders have cut loans to prospective U.S. home buyers, feeding a housing slump that has stoked fears among energy investors of a wider economic slowdown and reduced demand for oil and gasoline. The Paris-based International Energy ...
2007-09-09 01:57:00 -
Bond funds could get hit by mortgage mess
MSNBC - ... borrowers with weak credit. Critics charge that Standard & Poor’s, Moody’s Investors Service and Fitch Ratings routinely give triple-A ratings — the safest rating there is — to far too many mortgage-backed bonds backed by subprime home loans.
2007-09-09 03:23:00 -
Foreclosure 'Tax' Is Next Mortgage Crisis (TheStreet.com)
Unless Congress acts quickly, millions will be taxed on 'forgiven' mortgage debt.
2007-09-09 09:07:58 -
Bond funds could get hit by mortgage mess (MSNBC)
Could the housing market’s woes spread to bonds held in mutual funds by millions of ordinary investors? Some experts — and hedge fund investors who have made big bets that the mortgage crisis will worsen — are saying that’s exactly what will happen.
2007-09-09 03:54:12 -
Report: Company had more nontraditional loans in growth areas (KVOA Tucson)
TUCSON, Ariz. -- A newspaper's analysis indicates that a Tucson-based mortgage company had a relatively high percentage of nontraditional loans in several high-growth areas of Arizona...
2007-09-09 09:50:58 -
First Magnus Had More High Risk Loans in Growth Areas (KTAR 92.3 Phoenix)
A newspaper's analysis indicates that a Tucson-based mortgage company had a relatively high percentage of nontraditional loans in several high-growth areas of Arizona before it collapsed.
2007-09-09 10:20:11 -
Study finds minorities often get riskier mortgage loans (WZZM 13 Grand Rapids)
A study shows blacks and Latinos in the Lansing, Mich., area are more likely than whites to get high-cost, subprime loans when they buy or refinance homes.
2007-09-09 04:30:37 -
Bloomberg Markets October 2007
Bloomberg - On Friday, the Federal Reserve lowered the interest rate it charges to banks to 5.75 percent from 6.25 percent in an attempt to ... The Credit Suisse Group Institutional Money Market Fund Prime Portfolio held 8 percent of its $22.8 billion of assets in ...
2007-09-09 01:50:00 -
Local share market braces for plunge
News.com.au - A cut would be the first in four years and a dramatic turnaround from the interest rate rise ordered in August. The Australian economy has so far weathered the sub-prime fallout and produced stunning GDP results last week, which showed growth of 0.9 ...
2007-09-09 03:30:00 -
APEC Turns Into the Bin Laden, Kim Jong-Il Show: William Pesek
Bloomberg - Instead, the economy's prospects have darkened amid interest-rate hikes and turmoil in global credit markets. Bush arguably offered the most animated APEC quote. He told Australia's deputy prime minister, Mark Vaile, ``we're kicking ass'' in ...
2007-09-09 02:54:00 -
Next in line for subprime hit: Bonds?
CNN Money - ... and Exchange Commission said Friday it had launched a review of what the three agencies' ratings mean and whether conflicts of interest were created if they gave advice to sellers of mortgage debt. Credit rating agencies say their role is to rate the ...
2007-09-09 01:07:00 -
Farmers fear losing properties
The Australian - Come next year, when you want to refinance for another season, you don't have the equity to move forward." Mr Freeman said the community wanted the banks to negotiate and pointed to another looming crisis. Farmers who have taken out futures contracts ...
2007-09-09 07:30:00 -
Halabi facing £70m bill
Times Online - Speculation is growing that Halabi may decide to refinance the portfolio – whose properties house a number of top companies including UBS, Aviva and JP Morgan – or sell one or two assets to repay the loan. It is believed that property agents have ...
2007-09-08 04:57:00