Mortgage and Financial News From 2007-11-23 Page 6

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• The credit crunch is being overhyped – for now, anyway

  Fort Worth Business Press - Second, some of the securities into which the mortgages were packaged were so complex that the people selling and buying them didn’t understand, with hindsight anyway, what they were doing. As a result, it’s hard to determine the securities ...
  2007-11-23 01:22:00

• Australia's 13 Million Voters Choose Between Howard and Rudd

  Bloomberg - ... vote today to decide whether Prime Minister John Howard or Labor Party challenger Kevin Rudd is better for their mortgages ... Hong Kong came in second with 55,000. Australia's 1,600 troops in Iraq, whom Rudd has vowed to bring home, vote in Baghdad ...
  2007-11-23 02:55:00

• Peter G. Miller: Mortgage loan prepayments reduce the amount of principal (San Antonio Express-News)

  Q: I just joined a major lender, and I've been told that most of our mortgages are scheduled interest. This means if a borrower pays additional principal one month, it will be taken off the back end of the loan and the prepayment will not change the loan's amortization schedule.
  2007-11-23 03:12:33

• Freddie Mac Risks Larger Declines Than Forecast, Moody's Says (Bloomberg.com)

  Nov. 23 (Bloomberg) -- Freddie Mac, the second-largest U.S. mortgage-finance company, may have to report wider losses than it forecast as the slump in credit markets worsens, according to Moody's Investors Service.
  2007-11-23 05:12:41

• Bankers report slump in house loan approvals (The Herald)

  Ian McConnell FRESH mortgages approved by the big UK banks for house purchase crashed in October to their lowest level since comparable records began a decade ago - signalling a sharp slowdown in the residential property market.
  2007-11-23 04:11:45

• U.K. Bonds Gain for Third Week as Investors Seek Safest Assets (Bloomberg.com)

  Nov. 23 (Bloomberg) -- U.K. two-year government notes gained for a third week as concern finance industry losses deriving from U.S. subprime mortgages will widen stoked demand for the safest assets.
  2007-11-23 02:32:25

• Freddie Mac Risks Larger Credit Losses, Moody's Says (Update5) (Bloomberg.com)

  Nov. 23 (Bloomberg) -- Freddie Mac, the second-largest U.S. mortgage-finance company, may report wider losses than it forecast as the slump in credit markets worsens, Moody's Investors Service said.
  2007-11-23 10:42:51

• E*Trade Shares Rally on Report of Takeover Talks (Update4) (Bloomberg.com)

  Nov. 23 (Bloomberg) -- E*Trade Financial Corp., the second worst-performing stock in the Standard & Poor's 500 Index this year, rose 25 percent on a report the online brokerage is in talks to sell itself or part of its business.
  2007-11-23 01:15:54

• Australia's 13 Million Voters Choose Between Howard and Rudd (Bloomberg.com)

  Nov. 24 (Bloomberg) -- Australians around the world vote today to decide whether Prime Minister John Howard or Labor Party challenger Kevin Rudd is better for their mortgages, the booming economy and the global environment.
  2007-11-23 03:14:53

• Housing slump fears rise as new mortgages fall (Times Online Sunday)

  The rate of UK mortgages approvals fell by 16 per cent in October as the Government's controversial Home Information Packs discouraged sellers from putting their homes up for sale and higher interest rates put off buyers taking out home loans.
  2007-11-23 03:54:36

• Paulson Shifts on Mortgages

  Wall Street Journal - Defaults and foreclosures are increasing as borrowers -- many of whom got loans that allowed them to make no down payment or to initially pay interest only -- begin having trouble making their mortgage payments as higher rates kick in. Many ...
  2007-11-20 03:56:00

• Humble Revenue long overdue

  Times Online - The possibility of a more contrite Revenue emerging from the debacle is the only ... Libor, the interest rate at which banks are prepared to lend to one another, started ... still, lenders gave warning that there is no guarantee that they will lower mortgage ...
  2007-11-23 01:58:00

• Family says HSBC 'left our house to rot'

  Guardian Unlimited - ... she would not see the £7,296 again (it was paid back to her, with £894 interest ... Until recently, a trust was the only way to protect many family homes from the ... expensive) procedure usually saw the couple's joint tenancy split on the mortgage ...
  2007-11-23 04:00:00

• Australian election campaigning wraps up

  San Diego Union-Tribune - ... and India's hunger for the coal and other minerals dug from of the Outback without pushing up inflation and mortgage interest rates ... Howard, who embraced the issue only recently, has refused to join any global warming pact that does not include China ...
  2007-11-23 03:38:00

• Without name on title, mother has nothing if partner dies

  St. Petersburg Times - His name alone is on the mortgage and the deed, although they bought the house ... Does she understand that she has no legal interest in the property and upon her ... A: Because I do not practice law in your state, I will respond only to the ...
  2007-11-23 10:45:00

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