Mortgage and Financial News From 2007-11-25 Page 6
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Virgin on verge of winning the race for Northern Rock
Times Online - Sir Richard Branson’s Virgin Group and his partners are poised to win control of Northern Rock, the stricken mortgage ... The Virgin consortium also includes Wilbur Ross, the American distressed debt investor, AIG, the insurance giant, Toscafund ...
2007-11-25 02:46:00 -
Reports: Northern Rock to name bidder
Miami Herald - Northern Rock PLC planned to name a consortium led by British tycoon Richard Branson's Virgin Group as its preferred bidder to buy the ailing mortgage lender, media reports said Sunday. Sky News and the British Broadcasting Corp. reported that ...
2007-11-25 02:03:00 -
New day dawns for VA mortgages
Contra Costa Times - VA mortgages do not require the private mortgage insurance that is usually necessary for loans with little or no down payment. The absence of PMI saves borrowers hundreds of dollars ...
2007-11-25 09:38:00 -
Insurers Face More Gloom
Wall Street Journal - Fund managers in Europe are shunning insurance stocks amid growing concerns the widening subprime-mortgage crisis could affect the sector, exerting more pressure on this year's already weak stock performance. Worry reached a fever pitch last week ...
2007-11-25 03:22:00 -
‘Health care reform?’ Hush! You’ll anger the Insurance Gods! (The State)
EVERYWHERE YOU GO in South Carolina, if there is a presidential candidate nearby (and they do seem to be everywhere), you’ll see people in red T-shirts that say “Divided We Fail.” That’s the AARP’s way of drawing the candidates’, and everyone else’s, attention to the organization’s belief that “All Americans should have access to affordable health care, including prescription drugs, and these ...
2007-11-24 09:19:28 -
Virgin set be named preferred bidder for Northern Rock (FT.com via Yahoo! News)
Sir Richard Branson's Virgin group last night emerged as the preferred bidder for Northern Rock as the auction for the stricken mortgage lender reached its climax.
2007-11-25 12:15:08 -
Homeowners get reprieve on flood insurance (Santa Maria Times)
Santa Maria homeowners who may have to buy expensive flood insurance have been given a reprieve by the slowly turning wheels of the federal bureaucracy.
2007-11-24 11:35:01 -
S&P Announces Rating Actions on Five Major Mortgage Insurers (Insurance Journal)
Standard & Poor's Ratings Services announced a number of rating actions, covering five mortgage guarantee insurers: Radian Group, Mortgage Guaranty Insurance PMI Group, Triad Guaranty and Old Repub
2007-11-25 09:44:32 -
Web site makes Realtors watch their (discriminatory) language
San Francisco Gate - Federal fair-housing laws, introduced in 1968 as part of the Civil Rights Act and amended in 1988, address real estate agents, owners, lenders, mortgage brokers and landlords who discriminate on the basis of six factors: color, religion, national ...
2007-11-25 04:09:00 -
Freddie and Fannie's Achilles' heel
CNN Money - Both troubled lenders need capital, but they cannot raise it in the way that many companies would. Fortune's Carol Loomis ... NEW YORK (Fortune) -- Mortgage giants Freddie Mac and Fannie Mae need capital - in today's credit crisis, there's no doubt ...
2007-11-25 02:46:00 -
Freddie Mac's Q3 Loss: Are the GSEs in Trouble?
Stockhouse Canada - ... entire mortgage industry depends on the mortgage GSEs to buy their loans/inject liquidity, the shaky finances of Freddie Mac (and in all likelihood Fannie Mae (FNM)) coupled with the credit crunch is just going to make it harder for mortgage lenders ...
2007-11-25 11:47:00 -
Study shows credit challenges ahead
Reuters UK - ... it increasingly difficult to get credit before Christmas despite a reduction in credit card borrowing in the past year, as lenders tighten their policies, a leading report said. Consumers will be further tested in the next year as fixed rate mortgage ...
2007-11-25 04:19:00 -
Shareholders take legal action against ratings agencies
Daily Telegraph - The bulk of the cases are related to the financial industry and involve mortgage lenders, fund managers and investment banks - notably Citigroup. However, other companies, such as property developers which help arrange mortgages, have also received ...
2007-11-25 04:40:00 -
Dollar Displaces Yen, Franc as Favorite for Funding Carry Trade
Bloomberg - Interest-rate futures on the Chicago Board of Trade show investors see a 58 percent probability that the U.S. benchmark will drop to 3.75 percent by March 31. Switzerland's key rate is 2.75 percent and Japan's is 0.5 percent. The dollar ...
2007-11-25 03:00:00 -
PRESS DIGEST - Singapore newspapers - Nov 26
Reuters UK - It has pushed down the real interest rate dramatically and is expected to drive the property market as buyers and borrowers take on more mortgages, which are costing them very little in real terms. - Inflation poses a bigger and more immediate threat ...
2007-11-25 03:36:00