Mortgage and Financial News From 2008-1-3 Page 11

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• Irwin Financial expects to lose $15 million to $20 million in fourth ...

  CNBC - However, when the mortgage industry plunged into distress in 2007, buyers for home-equity loans grew scarce. More of these loans are not being repaid, the bank said. Plus, the bank expects to record costs of $5 million in the fourth quarter and less ...
  2008-01-03 02:14:00

• RAMS completes sale deal with Westpac

  News.com.au - RAMS Home Loans Group, Australia's first high profile victim of the subprime mortgage crisis, says it's completed its brand and distribution sale to Westpac. From today, RAMS Home Loans Group will be renamed RHG Ltd, the company said. RAMS also said ...
  2008-01-03 06:32:00

• S&P Downgrades $3.68B in Mortgage CDOs

  Forbes - Standard & Poor's Ratings Services on Thursday downgraded $3.68 billion in investments backed by home loans as mortgage credit quality disintegrates, the ratings agency said Thursday. S&P cut its rating on 89 tranches of collateralized-debt ...
  2008-01-03 12:41:00

• Fitch Downgrades $46.8MM from Meritage Mortgage Corp. 2004-1

  Forbes - The mortgage loans were originated by Meritage Mortgage Corp. Fitch will closely monitor the relationship between XS and monthly losses for those transactions in the upcoming months. If the losses continue to exceed XS, the ratings will be reassessed
  2008-01-03 08:45:00

• National Australia to Raise Mortgage Rates on Subprime Fallout - Bloomberg

  National Australia to Raise Mortgage Rates on Subprime FalloutBloomberg - 3 hours ago4 (Bloomberg) -- National Australia Bank Ltd., the nation's biggest, said it will raise interest rates on home loans to recoup higher funding costs amid ...
  2008-01-03 04:54:16

• 10 market predictions for a glum '08 - MSN Money

  10 market predictions for a glum '08MSN Money - 3 hours agoExpect at least one major bank to fail in 2008 as high-risk mortgage and business loans made in the mid-2000s by more than 2500 US financial institutions ...
  2008-01-03 04:56:08

• Wall Street Eyes Several Key Economic Reports Released Thursday - WCSH-TV

  Wall Street Eyes Several Key Economic Reports Released ThursdayWCSH-TV, ME - 3 hours ago(NBC) -- More and more Americans are making late payments on consumer loans according to the American Bankers Association. The delinquency rate is now at ...
  2008-01-03 04:59:40

• Bank of England pressured for new rate cuts as credit crunch hits ... - This is London

  Bank of England pressured for new rate cuts as credit crunch hits ...This is London, UK - 2 hours agoA study by the Bank revealed a sharp rise in the number of people being turned down for mortgages, loans and credit cards. It said British banks and finance ...
  2008-01-03 05:15:07

• RAMS completes sale deal with Westpac - Sydney Morning Herald

  RAMS completes sale deal with WestpacSydney Morning Herald, Australia - 2 hours agoRAMS Home Loans Group Ltd, Australia's first high profile victim of the subprime mortgage crisis, says it has completed the sale of its brand and ...
  2008-01-03 05:15:33

• Regulators intensify mortgage inquiry - BusinessWeek

  Regulators intensify mortgage inquiryBusinessWeek - 2 hours agoLast June, two hedge funds at Bear Stearns Cos. collapsed after making bad bets in investments linked to subprime loans made to borrowers with shaky credit. ...
  2008-01-03 05:31:10

• Franklin Credit Management Enters Into Debt Restructuring With ... - Biloxi Sun Herald

  Franklin Credit Management Enters Into Debt Restructuring With ...Biloxi Sun Herald,  USA - 2 hours ago... engaged in the servicing and resolution of performing, reperforming and nonperforming residential mortgage loans, today announced that on December 28, ...
  2008-01-03 05:37:56

• Architecture Professor Calls for Mobile Homes to go Green - AZoBuild

  Architecture Professor Calls for Mobile Homes to go GreenAZoBuild, Australia - 2 hours ago"That means someone who in the past could afford only a single-wide trailer with a 15-year chattel mortgage would pay less money per month to own a really ...
  2008-01-03 05:41:27

• National Australia Bank Raises Mortgage Rates (Update1) - Bloomberg

  National Australia Bank Raises Mortgage Rates (Update1)Bloomberg - 2 hours agoNational Australia, the country's second-biggest provider of mortgages, raised its interest rate for home loans that don't have a fixed rate by 12 basis ...
  2008-01-03 05:53:42

• Franklin Credit Management Enters Into Debt Restructuring With ... - FOX News

  Franklin Credit Management Enters Into Debt Restructuring With ...FOX News - 1 hour ago"We have a proven ability to assess mortgage portfolios, especially those containing loans to difficult borrowers, including strong capabilities in ...
  2008-01-03 06:00:19

• No reason to think a US recession in the cards for '08 - China Post

  No reason to think a US recession in the cards for '08China Post, Taiwan - 1 hour ago... venture capital funds, mortgage brokers and the housing sector. "But to the rest of the non-financial sector they are making all the good loans they can ...
  2008-01-03 06:00:25

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