Mortgage and Financial News From 2007-10-16 Page 12

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  • CONTINUED: Two weeks work for a fridge?

    MSNBC - A 1975 Census report showed that only 8.9 percent of mortgage holders spent 35 percent or more of their income — including insurance, property taxes, and utilities — on housing. The number of households spending half their income on housing ...
    2007-10-16 08:41:00

  • Wells Fargo & Company Profile

    Denver Business Journal - Sign-up Now for a Free Test Drive of a New Sales Prospecting and Leads subscription services. Wells Fargo & Company is a diversified financial services company with $540 billion in assets, providing banking, insurance, investments, mortgage and ...
    2007-10-16 10:07:00

  • Complete Financial Solutions Enters into a Definitive Agreement to ...

    Forbes - ... We couldn't have found a better bank, or group of people, if we had looked forever," and "This acquisition will relieve our mortgage originators of the multiple state licensing burden, plus allow them to offer insurance products to our mortgage ...
    2007-10-16 10:50:00

  • U.S. Banking Panel Drifts as Dodd Focuses on Presidential Run

    Bloomberg - Dodd's committee, which has jurisdiction over the Fed, and the mortgage, hedge-fund and insurance industries, has approved 14 bills this year. They include measures covering port security, protecting students from unfair lending practices and ...
    2007-10-16 10:57:00

  • African Immigrant Waits in Jail

    Newsday - Kambo said the family has given up its health insurance and is struggling to pay the mortgage. "At the end of the day, even if you win, it's a mess. Your credit is ruined. Your career is ruined," Kambo said. "They are using this as a means to force ...
    2007-10-16 12:37:00

  • Louisiana Business Shorts: Historic Homes, Ginnie Mae, Foreclosures ...

    Bayou Buzz - Administered by HUD's Federal Housing Administration (FHA), this mortgage insurance program is geared toward borrowers who have good credit, but who may not have made all of their payments on time because of resetting interest rates. For the first ...
    2007-10-16 10:28:00

  • Radian Falls After Bernanke Sees Longer Housing Slump (Update1)

    Bloomberg - ... Bloomberg) -- Radian Group Inc., whose planned sale to larger rival MGIC Investment Corp. collapsed last month, led mortgage ... Purchases Malpractice Insurer SCPIE Holdings for $281 Million Ritchie Life Insurance Funds Win Time to File ...
    2007-10-16 09:52:00

  • Paulson says housing 'most significant risk' to economy, no recession ...

    Forbes - To accomplish this, the GSEs must work closely with their private mortgage insurance company partners in the development of new products.' Paulson said the GSEs have some additional capacity to provide liquidity in the market, but did not directly ...
    2007-10-16 10:35:00

  • Allstate Must Testify In Fla. Insurance Probe (WPBF Palm Beach)

    Florida's insurance regulators have subpoenaed the Allstate companies for a January hearing when they can explain what state officials call runaway profits.
    2007-10-16 10:57:13

  • Paulson: Subprime help needed - but no bailout

    CNN Money - NEW YORK (CNNMoney.com) -- Treasury Secretary Hank Paulson is walking a fine line, pushing the need to help troubled mortgage borrowers without rewarding past risky behavior. "I have no interest in bailing out lenders or property speculators. Still ...
    2007-10-16 10:43:00

  • Mortgage Scam Letters Arrive in Fairfax County

    WTOP Radio - Susan Jones of the county's consumer affairs bureau says the letters are from mortgage lenders and brokers offering consumer loans. "They're basically saying you can get money out of equity in your home or get this big lump sum. They're targeting ...
    2007-10-16 08:27:00

  • S&P flags up funding problems for small banks

    Daily Telegraph - Britain's specialist mortgage lenders remain threatened by the crunch in the credit markets as the lack of demand for mortgage securitisations undermines their funding models, the ratings agency Standard & Poor's said. Sub-prime customers face a ...
    2007-10-16 03:26:00

  • Don't scrimp on your mortgage payments

    Biloxi Sun Herald - Often inflexible approaches offered by mortgage lenders who are following bureaucratic process and procedures laid down by investors and regulators that need to be updated. Let me caution you to be sure to make each payment exactly as scheduled and in ...
    2007-10-16 08:41:00

  • Paulson Plans to Review Off-Balance Sheet Bank Units (Update2)

    Bloomberg - Bank regulators last month called on mortgage lenders to stave off foreclosures by cutting or postponing home payments for cash-strapped borrowers. `Some Time Yet' ``The ongoing housing correction is not ending as quickly as ...
    2007-10-16 10:35:00

  • UPDATE 4-Wells Fargo profit hurt by credit pressures

    Reuters - Wells Fargo is the nation's No. 5 bank and one of its largest mortgage lenders. "It was a tough environment," Chief Financial Officer Howard Atkins said in an interview. "Credit markets seized up, and the housing market took another downturn." In ...
    2007-10-16 10:21:00

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