Mortgage and Financial News From 2007-9-19 Page 01

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• S. Florida housing costs rise 8.4%

  Miami Herald - For the second time in a row, Miami-Fort Lauderdale area costs for rent, mortgage payments and insurance had their highest annual increase in 25 years, government inflation data released Wednesday shows. Last month, such shelter costs increased 8.4 ...
  2007-09-19 10:10:00

• Synovus Opens Bank in Mobile, Alabama

  MSN MoneyCentral - It offers a wide array of consumer and commercial financial products, including checking, savings, investment accounts, loans, in addition to trust services, mortgage financing, brokerage and insurance services. As a community bank, Coastal Bank ...
  2007-09-19 08:01:00

• Law Firm Says Partner to Be Indicted

  Chicago Tribune - Lerach, 61, and Weiss targeted some of the nation's largest companies in litigation, including AT&T, Lucent, WorldCom, Sears, Roebuck, Microsoft, Prudential Insurance and Lincoln Savings & Loan. Lerach acknowledged making secret payments to ...
  2007-09-19 05:55:00

• MGIC sells part of Sherman Financial Group

  Reuters - Last: NEW YORK, Sept 19 (Reuters) - MGIC Investment Corp (MTG.N: Quote , Profile , Research ) said on Wednesday its Mortgage Guaranty Insurance Corp. subsidiary (MGIC) sold a portion of its interest in Sherman Financial Group LLC to an entity owned ...
  2007-09-19 03:18:00

• MGIC, Radian sell part of Sherman stakes

  Boston Globe - MILWAUKEE -- MGIC Investment Corp.'s said Wednesday that its Mortgage Guaranty Insurance Corp. unit sold an interest in Sherman Financial Group LLC, representing about 16 percent of Sherman's equity, for about $240.8 million. The Milwaukee mortgage ...
  2007-09-19 05:05:00

• Why home loan insurance is good

  Rediff.com - But financial planners say that a pure mortgage insurance is not always necessary. Says Suresh Sadagopan of Ladder 7 financial services, "One can opt for a term plan instead of a mortgage insurance product." His reasoning is that more often than not ...
  2007-09-19 06:46:00

• Macquarie to Sell Debt Backed by Australian Mortgages (Update1)

  Bloomberg - Sept. 20 (Bloomberg) -- Macquarie Bank Ltd. plans to sell Australia's first mortgage-backed bonds in two months, offering ... House Passes Extension of Terror Insurance With Veto-Proof Majority AMP Appoints Craig Dunn to Succeed Andrew Mohl as ...
  2007-09-19 10:06:00

• U.S. Senate banking panel passes FHA reform

  Reuters - WASHINGTON, Sept 19 (Reuters) - The U.S. Senate Banking Committee on Wednesday voted to reform the Federal Housing Administration and allow the mortgage insurance program to help more homeowners in danger of losing their homes. The Federal Housing ...
  2007-09-19 11:15:00

• Senate banking panel OK's housing admin reform

  Boston Globe - WASHINGTON (Reuters) - The Senate Banking Committee on Wednesday voted to overhaul the Federal Housing Administration and allow the mortgage insurance program to help more homeowners in danger of losing their homes. The FHA was set up in 1934 during ...
  2007-09-19 11:07:00

• Bear Stearns analyst says short-sellers in mortgage insurance could ...

  CNBC - NEW YORK - A Bear Stearns analyst said Wednesday short-sellers in the mortgage insurance industry could face a squeeze now that the Federal Reserve has cut its target for interest rates. The Fed on Tuesday cut its target for the federal funds rate ...
  2007-09-19 04:48:00

• UPDATE 1-US mortgage insurers aided by regulatory moves

  Reuters - Both Fannie and Freddie require home buyers who borrow more than 80 percent of their home's value to provide some form of protection, generally mortgage insurance. That, coupled with the Federal Reserve's half-point rate cut on Tuesday, are ...
  2007-09-19 11:43:00

• MGIC Investment Sells Portion of Sherman Joint Venture

  Forbes - MILWAUKEE, Sept. 19 /PRNewswire-FirstCall/ -- MGIC Investment Corporation (NYSE: MTG) announced that today its Mortgage Guaranty Insurance Corporation subsidiary (MGIC) sold a portion of its interest in Sherman Financial Group LLC (Sherman) to an ...
  2007-09-19 03:04:00

• Millions in U.S. have no life insurance (AP via Yahoo! News)

  Millions of Americans have no life insurance or are seriously underinsured and that could translate to big financial problems for their loved ones if they die unexpectedly.
  2007-09-19 03:49:43

• Why home loan insurance is good (rediff.com)

  The choice for the home buyer is clear - either get adequate life cover or a mortgage insurance product.
  2007-09-19 09:14:03

• Net Worth: Mortgage insurance has often gotten piggybacked away (Addict 3D)

  I've been getting questions recently on mortgage insurance and figured this is a good day to answer some of them. Patricia P. asks, "Would you comment on the role of mortgage insurance in connection with the troubles in the mortgage market.
  2007-09-19 10:28:48

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