Mortgage and Financial News From 2007-10-5 Page 25
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30-year mortgage rate declines to 6.37%, first drop in 2 weeks
Baltimore Sun - The mortgage rates do not include add-on fees known as points. Thirty-year mortgages, 15-year and five-year mortgages all carried a nationwide average fee of 0.5 point while one-year adjustable-rate mortgages had an average fee of 0.6 point. A year ...
2007-10-05 12:11:00 -
30-year mortgage rates finally drop (Tacoma News Tribune)
WASHINGTON – Rates on 30-year mortgages fell this week after two consecutive increases, providing a break for potential home buyers and the beleaguered housing industry.
2007-10-05 01:29:59 -
U.S. Mortgage Rates Edge Lower: Freddie Mac (Nasdaq)
U.S. mortgage rates edged lower in the week ending Thursday, with the national average on the benchmark 30-year, fixed-rate loan hitting 6.37% vs. 6.42% a week earlier, Freddie Mac said in its weekly survey.
2007-10-04 08:21:10 -
CORRECT: U.S. mortgage rates edge lower: Freddie Mac (Market Watch)
CHICAGO (MarketWatch) -- U.S. mortgage rates edged lower in the week ending Thursday, with the national average on the benchmark 30-year, fixed-rate loan hitting 6.37% vs. 6.42% a week earlier, Freddie Mac said in its weekly survey. The 15-year, five-year hybrid adjustable-rate and one-year ARM also inched down. The declines follows three weeks in which rates on longer-term mortgages had risen. ...
2007-10-04 07:32:24 -
Investors vent anger amid fraud probe
Union - Investors vent anger amid fraud probe With mortgage company's accounts frozen, lenders and borrowers demand answers By Laura Brown, laurab@theunion.com » More from Laura Brown 12:01 a.m. PT Oct 5, 2007 Lenders and borrowers, many of them elderly ...
2007-10-04 11:57:00 -
Foreclosure Fraud: Lending Company Responds
KLAS-TV - A nationwide lending company based in California says it has been unfairly caught up in a mortgage fraud scheme. Best Rate Funding is a legitimate lending company and another victim in a wide-reaching greedy plot. Earlier this year the housing crisis ...
2007-10-04 07:18:00 -
Bulgarian Woman Masterminded Real Estate Fraud Ring in US
Sofia News Agency - Officials said the scheme was uncovered when the building's property manager became suspicious after seeing a similar story about a mortgage-flipping scheme in a south Chicago neighborhood and filed a complaint with the Mortgage Fraud Task Force in ...
2007-10-05 01:09:00 -
Bulgarian Woman Masterminded Real Estate Fraud Ring in US (Novinite.com)
Officials at the US state of Illinois have busted a real estate fraud ring, masterminded by a Bulgarian woman, Daily Herald newspaper reported.
2007-10-05 01:31:15 -
U.S. Stocks Gain, Led by Utilities; American Electric Rises
Bloomberg - Citi Investment Research analyst Bradley Ball said the mortgage-related companies represent ``buying opportunities'' because they have ``sound businesses and adequate liquidity and capital to manage through the tougher times'' in a research note to ...
2007-10-04 03:29:00 -
Ex-mortgage banker sued in investment fraud case
Reading Eagle - He said he also had never heard of Brauner or her supposed investment in his mortgage. He said he took out the mortgage in 1988 from Personal Financial Management, and it was owned since then by mortgage maker HSBC and the companies it had bought. ...
2007-10-04 08:58:00 -
Subprime Woes At Cerberus
BusinessWeek - In August, Aegis Mortgage, one of its portfolio companies, filed for bankruptcy. Four months earlier, Aegis co-founder and former CEO D. Richard Thompson, who was fired in October, 2006, sued Cerberus, claiming it mismanaged the business. (ResCap is ...
2007-10-04 10:38:00 -
U.S. Hiring Probably Rebounded in September on Government Jobs
Bloomberg - Firings at mortgage companies are also contributing to the slowdown in the labor market. Morgan Stanley, the second-biggest U.S. securities firm, said this week that it plans to cut 600 jobs after a decline in mortgage-related revenue led to lower ...
2007-10-04 09:55:00 -
Mortgage brokers urge fair new rules
Baltimore Sun - They argue that banks and mortgage companies create the loans and set the ground rules for how brokers are paid. They also say that any federal legislation that requires brokers to be licensed should apply to staff loan officers at banks and mortgage ...
2007-10-05 12:19:00 -
Property Insurers Cheapest Since 2000 on Mistaken Subprime Link (Bloomberg.com)
Oct. 5 (Bloomberg) -- It's better to be lucky than smart, unless you're Travelers Cos., Ace Ltd. or any of the dozens of property and casualty companies that investors assume are so dim that they must have invested in subprime mortgage debt.
2007-10-04 09:48:43 -
Mortgage brokers urge fair new rules (Baltimore Sun)
Loan crisis prompts bills in Congress Mortgage brokers, under fire for steering borrowers into high-cost home loans, are a prime target of fair-lending legislation soon to be unveiled on Capitol Hill.
2007-10-05 12:32:16