Mortgage and Financial News From 2008-2-8

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  • FBI: Dozens Indicted In Mortgage Fraud Scheme (NBC 5 Chicago)

    Twenty-five people have been charged in one of biggest mortgage fraud schemes ever prosecuted in the area, the FBI announced Friday.
    2008-02-08 10:45:14
  • (AFX UK Focus) 2008-02-08 18:23 GMT: UPDATE: Pianalto says subprime reaction shouldn't 'suffocate' credit (Interactive Investor)

    (updates with more from speech)
    2008-02-08 10:50:28
  • Analyst: Fannie Mae Faces Worse Credit (AP via Yahoo! Finance)

    Shares of Fannie Mae fell Friday as a Morgan Stanley said he expects it to report decaying credit quality in its portfolio, a worrying sign that the meltdown in subprime lending may be spilling over into prime mortgage.
    2008-02-08 10:52:21
  • Fitch Rates $118MM RALI 2008-QR1 (Business Wire via Yahoo! Finance)

    NEW YORK----Fitch rates RALI, series 2008-QR1 as follows:
    2008-02-08 10:54:00
  • Monmouth Real Estate Investment Corporation Reports Three-Month Earnings (PR Newswire via Yahoo! Finance)

    Monmouth Real Estate Investment Corporation reported net loss applicable to common shareholders of or per common share for the three months ended December 31, 2007, as compared to net income applicable to common shareholders of $1,525,000 or $0.07 per common share for the three months ended December 31, 2006.
    2008-02-08 10:54:00
  • Capstead Mortgage Corporation Announces Exercise of Underwriters' Over-Allotment Option Related to Its Recently Closed ... (Business Wire via Yahoo! Finance)

    DALLAS----Capstead Mortgage Corporation announced today that the underwriters of its recent public offering of 8 million shares of common stock, which closed on February 1, 2008, have exercised their option to purchase 600,000 additional shares of the total 1.2 million share over-allotment at the public offering price of $15.50 per share less underwriting discounts and commissions.
    2008-02-08 10:55:00
  • Capstead Mortgage Corporation Announces Exercise of Underwriters' Over-Allotment Option Related to Its Recently Closed ... (Finanzen.net)

    Capstead Mortgage Corporation (NYSE: CMO) announced today that the underwriters of its recent public offering of 8 million shares of common stock, which closed on February 1, 2008, have exercised their option to purchase 600,000 additional ...
    2008-02-08 10:58:33
  • Bank of America Says Buy Euro, Sell Dollar on U.S. Rate Cuts

    Bloomberg - ... euro and sell the dollar because the Federal Reserve needs to lower interest rates ... It was at $1.4487 in New York late yesterday, when it touched $1.4440, the lowest ... benchmark from 1999 until August, when the collapse of the U.S. subprime- mortgage ...
    2008-02-08 12:02:00
  • The high rise tightens its grip

    Globe and Mail - At just under 21,550, new low-rise sales were at their lowest level ever, and ... high-rise sales, such as buyers taking advantage of record low interest rates, and ... average of $515,325 in 2007, according to data released this week by Canada Mortgage ...
    2008-02-08 07:05:00
  • UPDATE 2-Canada housing starts soar 20 percent in January

    Forbes - ... housing starts figures have yet to be released, but in December ground-breaking on U.S. homes was the at the lowest level ... Historically low mortgage rates, solid employment and income growth as well as a high level of consumer confidence continue to ...
    2008-02-08 08:16:00
  • India's Sensex Falls a Fourth Week on Inflation, Rate Outlook

    Bloomberg - ... in inflation may limit the central bank's ability to reduce interest rates. ICICI Bank Ltd., the nation's most valuable bank, fell to its lowest in more than three months. Housing Development Finance Corp., the Indian mortgage lender ...
    2008-02-08 04:27:00
  • Canada's jobless rate drops

    Forbes - The January jobless rate is down from 6 percent in December and the lowest since November 1974. Another sign of a stronger economy came from the housing sector. Canada Mortgage and Housing Corp. reported that moderate mortgage rates, solid employment ...
    2008-02-08 08:38:00
  • ECB leaves interest rates unchanged, pressure remains

    Xinhua News Agency - ... Pressure remains on the European Central Bank (ECB) to cut interest rates in the ... said the euro zone unemployment stood at 7.2 percent in December, the lowest level ... big decline, as what happened in the United States. The U.S. subprime mortgage ...
    2008-02-08 05:32:00
  • BOE cuts rate, ECB holds rate - CCTV

    BOE cuts rate, ECB holds rateCCTV, China - 2 hours agoSeveral mortgage lenders quickly announced that they would pass on the full cut to borrowers. The Bank of England's decision to cut rates was widely ...
    2008-02-08 07:58:43
  • Geoff Foster, Daily Mail. - This is Money

    Geoff Foster, Daily Mail.This is Money, UK - 2 hours agoNervous selling ahead of the results on February 20 left mortgage bank Alliance & Leicester 65p down at 588p. Reflecting their exposure to depressed equity ...
    2008-02-08 08:01:46