Mortgage and Financial News From 2007-8-25 Page 12
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Buy-to-let less profitable but still popular
Financial Times - ... than 18 months ago because of interest rate rises. This means a typical landlord may buy a property on a 5 per cent gross yield, but receive only a 3.5 per cent net yield after costs such as maintenance and voids - well below a typical mortgage rate. ...
2007-08-25 01:55:00 -
Credit crisis changes rules for getting a mortgage
Fort Lauderdale Sun-Sentinel - You can still get a mortgage, even if your credit isn't great or you have only a small down payment, but you'll have a harder time qualifying for it. ... If you're borrowing a lot, expect to repay more. Interest rates have gone up significantly on jumbo ...
2007-08-25 02:59:00 -
Subprime mortgage issuers test appetite for risk
Reuters - NEW YORK (Reuters) - Subprime mortgage issuers have had to boost yields and credit support levels to lure wary ... There's only been some soft interest in 'AA'" issues." said Mike Kagawa, portfolio manager, Payden & Rygel Investments in Los Angeles.
2007-08-24 11:10:00 -
Mortgage ads show no sign of credit woes
Boston Globe - ... placed on the Internet and in newspapers, often right next to the very stories chronicling the meltdown of the mortgage ... So is it wrong to market no-money-down, interest-only, or other alternative mortgages to people with poor credit? "There's ...
2007-08-25 04:47:00 -
Mortgage ads skip reality (Pioneer Press)
On aol.com this week, the Internet-based loan company Lending Tree offered "bad credit options" and a $425,000 loan for only $1,376 a month. And Countrywide Financial Corp., the nation's largest lender, declared "Bad Credit? Call Today. Refinance or Tap into Your Home's Equity" in an online ad from its Full Spectrum Lending Division.
2007-08-25 05:28:26 -
Noticias Infobolsa / Titulares (InfoBolsa)
Fitch Affirms 1345 Avenue of the Americas & Park Avenue Plaza Trust, . Series FB 2005-1 Series FB 2005-1 24/08/2007 20:05:00 Business Wire US0301371037 Fitch Ratings has affirmed Series FB 2005-1, commercial mortgage pass-through certificates as follows: --$85.3 million class A-2 at AAA ; --Interest-only class X-1 at AAA ; --$364.1 million class A-3 at AAA ; --$26 million class B at AA ; --$28 ...
2007-08-24 08:22:40 -
As mortgage industry retrenches, industry job cuts surpass 40,000 (Madison Daily Leader)
CHARLOTTE, N.C. (AP) -- At the North Carolina offices of mortgage lender HomeBanc Corp., Archie Clark is the only employee left. But in a few days, he'll be gone, too.
2007-08-24 09:28:21 -
Local Lenders Slip Despite Positive News
Los Angeles Business Journal - Shares in local mortgage lenders dipped Friday as credit concerns and tight lending standards outweighed a surprising up-tick in national home sales for the month of July. The Commerce Department reported Friday that home sales across the country ...
2007-08-24 09:59:00 -
Group: Bad Credit Threatening US Economy
Forbes - The market turmoil began earlier this year, when mortgage lenders like New Century Financial Corp. and H&R Block Inc.'s Option One Mortgage Corp. unit reported their clients were missing payments on their home loans more frequently. This led the Wall ...
2007-08-25 04:18:00 -
Wachovia Sues Thornburg Mortgage for $5.1 Million
CNBC - It said then the asset sales will stabilize the company's ability to meet its financing obligations and continue its mortgage lending operations. Mortgage lenders have increasingly had trouble financing their operations as investors panic about the ...
2007-08-24 07:28:00 -
Mortgage lenders cut back on subprime
Globe and Mail - Some of Canada's biggest subprime mortgage lenders are pulling out of areas of the business, at least temporarily, indicating that problems in the commercial paper market have spilled over to affect some Canadian consumers. Until recently, Canada's ...
2007-08-25 12:36:00 -
Big Chinese banks catch subprime flu / Investors dump shares after lenders disclose major holdings of mortgage-backed ... (San Francisco Chronicle)
After appearing immune to the turmoil engulfing the mortgage market in the United States, China suffered its first serious setback on Friday from exposure to subprime loans. Investors punished China's flagship lender, Bank of China, after it disclosed the...
2007-08-25 04:19:53 -
Mortgage lenders cut back on subprime (The Globe and Mail)
Some of Canada's biggest subprime mortgage lenders are pulling out of areas of the business, at least temporarily, indicating that problems in the commercial paper market have spilled over to affect some Canadian consumers.
2007-08-25 12:56:57 -
HSBC breaks interest-free graduate promise
Daily Telegraph - Instead, graduates have been hit with 9.9 per cent interest rate on their overdrafts, which can amount to £149 a year. The bank also offered them the option of joining a “premium†banking account, at the cost of £120 per year. The about-face by ...
2007-08-24 05:55:00 -
State treasurer to offer interest rate reductions for loans to flood ...
Mansfield News Journal - MANSFIELD — Ohio Treasurer Richard Cordray will give priority consideration to businesses and farmers hurt by recent flooding in Ohio when they apply for interest rate reductions on their bank loans through the treasurer’s Small Business Linked ...
2007-08-24 08:11:00