Mortgage and Financial News From 2009-7-10 Page 01
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NexBank enters home mortgage business - Birmingham Business Journal
NexBank SSB has launched a residential mortgage division. Tish Ashley, founder of the Funding Source is leading the venture. She and the dozen mortgage bank employees are now working from NexBank’s Granite Parkway office in Plano. The move allows ...
2009-07-10 02:59:00 -
Developer buys Yacht Club at Delray loan - Birmingham Business Journal
While a foreclosure lawsuit proceeds against the Yacht Club at Delray Beach, a New York developer recently bought the $18.8 mortgage from Orion Bank . A month after filing the foreclosure action against the developer, the Naples-based bank assigned ...
2009-07-10 12:15:00 -
Mortgage rate rises defy calls for fairer lending - Financial Times
Banks are refusing to cut mortgage costs for borrowers, and some are still pushing rates up, in spite of sharp falls in their own funding costs in recent weeks. Swap rates, which determine the price of fixed-rate lending, jumped at the beginning of ...
2009-07-10 01:26:00 -
Westpac to accept lower than 20pc mortgage deposit - New Zealand Herald
New Zealand's third-biggest bank, Westpac, has signalled that it is willing to lend to home-buyers with less than a 20 per cent deposit - but at a cost. The bank started an advertising campaign this week offering to lend more than 80 per cent of the ...
2009-07-10 04:25:00 -
Frank And Dodd Side With Mortgage Investors - Forbes
In the battle to stem foreclosures, two left-leaning policymakers have formed an unlikely alliance with mortgage investors. In a letter sent Friday afternoon to regulators including Treasury Secretary Timothy Geithner, Federal Deposit Insurance Head ...
2009-07-10 04:54:00 -
BANKS FACE NEW ATTACK OVER MORTGAGE FINES - Daily Express
CAMPAIGNERS have called on chief City watchdog the Financial Services Authority (FSA) to name and shame banks that hit struggling mortgage borrowers with huge fines for missing repayments. Consumer group Which? said the FSA should publish details of ...
2009-07-10 07:53:00 -
Restricted loans hit first-time buyers, says Bovis - The Herald
Restricted loans hit first-time buyers, says BovisThe HeraldHousebuilder Bovis Homes yesterday cautiously noted "signs of stabilisation" in the housing market but added its voice to concerns that restricted mortgage ...and more »
2009-07-10 06:06:28 -
Mixed signals from the US unnerve a twitchy Asia - IFR Asia
Mixed signals from the US unnerve a twitchy AsiaIFR AsiaIt is centralising its mortgage operations in Melbourne and cutting staff numbers in other regional centres. The news came at the same time as reports that ...
2009-07-10 06:16:36 -
Nationwide to broaden their horizons - Only Finance
Nationwide to broaden their horizonsOnly FinanceHigh street lender Nationwide have reintroduced their 125 per cent mortgage loans to selected customers, hinting at a revived property market. ...
2009-07-10 06:46:41 -
Chartwell's silver-haired lining - Globe and Mail
Globe and MailChartwell's silver-haired liningGlobe and MailHe notes that this consumer demographic has not been hurt by rising unemployment (they don't work); nor have they lost their homes (most are mortgage-free), ...
2009-07-10 07:02:57 -
Where Are the Loan Modifications? - New York Times
Where Are the Loan Modifications?New York TimesMy column tries to explore the various reasons the mortgage servicing industry has been so slow to modify large numbers of loans to help keep homeowners in ...
2009-07-10 07:11:46 -
PERSONAL FINANCE Property & Mortgages - Financial Times
PERSONAL FINANCE Property & MortgagesFinancial TimesThe Council of Mortgage Lenders (CML) still expects lending to fall by £5bn this year, although this is an improvement on earlier forecasts. ...and more »
2009-07-10 07:13:34 -
Short Stocks: AIG among top bets in late June - Reuters
Short Stocks: AIG among top bets in late JuneReuters... said in June its mortgage investment portfolio shrank by an annualized 9.9 percent rate in May, while delinquencies on loans it guarantees accelerated. ...and more »
2009-07-10 07:31:09 -
Borrowers hit with steep rise in home loans - Financial Times
Borrowers hit with steep rise in home loansFinancial TimesSome of Britain's biggest lenders have pushed up sharply the cost of popular fixed-rate mortgage deals, in defiance of ...and more »
2009-07-10 07:44:52 -
Mortgage Rules Exclude Even Good Risks - New York Times
Mortgage Rules Exclude Even Good RisksNew York TimesMortgage brokers say those who are being rejected for loans are often entrepreneurs who are used to taking risks. “They are chomping at the bit to get into ...and more »
2009-07-10 07:51:33