Mortgage and Financial News From 2008-2-8 Page 38

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• Govt announces review of bank exit fees (Merredin Wheatbelt Mercury)

  Unhappy home-loan borrowers will soon find it easier to shift their accounts with the corporate watchdog set to press banks to provide cheaper loan exit fees and clearer advice.
  2008-02-08 11:29:50

• ANZ lifts standard variable rate (Queanbeyan Age)

  ANZ Banking Group Ltd has lifted the interest rate on its standard variable home loans by 25 basis points to 9.02 per cent. The latest increase comes after the 25 basis point lift in the official cash rate announced by the Reserve Bank of Australia (RBA) on Tuesday.
  2008-02-08 11:30:33

• Bill Would Cap Payday Loan Interest Rates At 36 Percent (KMGH 7 Denver)

  State lawmakers are considering a proposal to limit what payday lenders can charge their customers and stop people from being able to get multiple short-term loans.
  2008-02-08 11:35:00

• Credicorp Fourth-Quarter Profit Rises on Loans (Update2)

  Bloomberg - Mortgage loans increased at the slowest rate, 30 percent. Operating expenses rose 36 percent to $151.8 million as chief executive officer Raimundo Morales Dasso focused on adding branch offices, ATMs and personnel. ``Costs remain well ...
  2008-02-05 03:58:00

• Covered bonds won't replace securitization - BofA

  Reuters - Like mortgage-backed securities, the cash flow off a pool of loans "covers" a covered bond. But since the underlying loans stay on the issuer's balance sheet, lenders may reduce the kind of risk-taking that led to the the mortgage meltdown, Federal ...
  2008-02-08 10:25:00

• Bear Stearns Makes $1 Billion Bet on Subprime Market Decline

  Bloomberg - Feb. 8 (Bloomberg) -- Bear Stearns Cos., the U.S. securities firm that posted its first-ever loss last quarter on mortgage writedowns, is betting more than $1 billion that subprime home loans and bonds will continue to decline. The wager, a ``short ...
  2008-02-08 07:55:00

• Coastal Banking Company Reports Fourth Quarter and Year-End 2007 ...

  MSN MoneyCentral - The wholesale division originates primarily full-documentation, conforming mortgage loans that are pre-sold into the secondary market. Net income for the year ended Dec.31, 2007, was $2.6 million, or $0.97 in diluted earnings per share, compared to ...
  2008-02-08 09:35:00

• Congress eyeing reverse loans

  Chicago Tribune - WASHINGTON - Now that the subprime mortgage business has crashed, many lenders are reviving their incomes by persuading older homeowners to take out reverse mortgages. Many retirees report being pleased with their reverse mortgages, but consumer ...
  2008-02-08 05:24:00

• Sector Snap: Mortgage Insurers fall

  MSN MoneyCentral - Mortgage insurers have struggled as mortgages, especially subprime loans given to customers with poor credit history, have increasingly defaulted in recent months. That rise in defaults has forced insurers to pay out a growing number of claims. ...
  2008-02-08 09:42:00

• FBI: Dozens Indicted In Mortgage Fraud Scheme

  NBC5 - The buyers were not qualified to obtain the financing necessary to complete these transactions and were aided by the loan officers in securing mortgage loans through the use of false employment, income and asset information during the application ...
  2008-02-08 10:32:00

• Colo. Bill Would Cap Payday Loan Rates - Forbes

  Colo. Bill Would Cap Payday Loan RatesForbes, NY - 53 minutes agoLinda Medlock of Denver said that when she needed $900 to pay her mortgage because of a problem with her refinancing, she borrowed $500 from two different ...
  2008-02-08 10:07:03

• Wholesale Inventories Increase More Than Expected In December - RTT News

  Wholesale Inventories Increase More Than Expected In DecemberRTT News, NY - 51 minutes ago... Council for Mortgage Lenders said Friday. The Council noted that 27100 homes were taken over by lenders in 2007, as people failed to repay home loans. ...
  2008-02-08 10:08:48

• Putin Says Russia Would Respond To The Challenges Of A New Arms ... - RTT News

  Putin Says Russia Would Respond To The Challenges Of A New Arms ...RTT News, NY - 51 minutes agoThe Council for Mortgage Lenders noted that 27100 homes were taken over by lenders in 2007, as people failed to repay home loans. The figure was the highest ...
  2008-02-08 10:08:49

• Pound Advances Versus Euro, Uncertain Against Dollar And Yen - RTT News

  Pound Advances Versus Euro, Uncertain Against Dollar And YenRTT News, NY - 51 minutes agoThe Council for Mortgage Lenders noted that 27100 homes were taken over by lenders in 2007, as people failed to repay home loans. The figure was the highest ...
  2008-02-08 10:08:49

• British banks set for bumber profits - Guardian Unlimited

  British banks set for bumber profitsGuardian Unlimited, UK - 49 minutes agoHutson notes that annualised mortgage growth is around 10% compared with five years of growth in the low- to mid-teens. The slowdown in home loans follows a ...
  2008-02-08 10:10:55

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