Mortgage and Financial News From 2007-8-20 Page 9

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  • Thornburg sells assets to cut risk

    Reuters - NEW YORK (Reuters) - Mortgage lender Thornburg Mortgage Inc (TMA.N: Quote , Profile , Research ) said on Monday it sold more than 35 percent of its assets and reduced its borrowings to cut its risk, and cautioned that the investors that buy its home ...
    2007-08-20 02:40:00

  • Layoffs at country's largest mortgage lender, report says

    Chicago Tribune - Countrywide Financial Corp., the nation's largest mortgage lender, has begun laying off staff as part of its effort to ride out the credit crunch that has rocked the home loan industry, according to a report published Monday. The job cuts occurred in ...
    2007-08-20 01:28:00

  • Mass layoffs at lender

    Newsday - After weeks of troubling news and near-silence from official spokesmen, American Home Mortgage Investment Corp. announced last night that it would shutter most of its operations and lay off more than 6,250 workers, including at least 1,300 of its 1 ...
    2007-08-20 08:35:00

  • Thornburg sells $20.5B in securities

    Boston Globe - Margin calls have forced a number of lenders into bankruptcy in recent weeks, among them American Home Mortgage and HomeBanc Corp. Thornburg said it would realize a capital loss of $930 million for the September quarter as a result of the mortgage ...
    2007-08-20 01:42:00

  • Former home owners find foreclosure can have unintended tax ...

    International Herald Tribune - NEW YORK: Two years ago, William Stout lost his home in Allentown, Pennsylvania, to foreclosure when he could no longer make the payments on his $106,000 mortgage. Wells Fargo offered the two-bedroom house for sale on the courthouse steps. No bidders ...
    2007-08-20 09:53:00

  • Weiss Research Advises Consumers How to Survive Today's Housing and ...

    Forbes - Five Tips for Home Buyers and Sellers JUPITER, Fla., Aug. 20 /PRNewswire/ -- Although housing and mortgage markets are sinking quickly, consumers buying or selling a home who take prompt protective action can greatly improve their chances for a ...
    2007-08-20 01:57:00

  • Simple Solutions to Home Buying Challenges (Benton Evening News)

    (ARA) - Home ownership is central to the American dream. And the good news is, it's a dream that can easily become reality. That's because today's lenders offer a variety of products to fit virtually every borrower's needs, points out Michael A. Drury, senior vice president of mortgage lending for M&T Bank Mortgage Division . Finding the right lending partner can make home buying easy and ...
    2007-08-20 09:22:47

  • Weiss Research Advises Consumers How to Survive Today's Housing and Mortgage Crisis (PR Newswire via Yahoo! Finance)

    Although housing and mortgage markets are sinking quickly, consumers buying or selling a home who take prompt protective action can greatly improve their chances for a positive outcome, according to Mike Larson, real estate analyst at Weiss Research, Inc.
    2007-08-20 01:59:00

  • Scottish Widows Bank launches key worker mortgage (Money Marketing Online)

    Scottish Widows Bank has launched a new key worker mortgage as a rival to the Government’s own Open Market Homebuy scheme. The product will give key workers the opportunity to buy their own home outright, rather than just part owning it.
    2007-08-20 11:57:19

  • Mortgage borrowers, brokers face tougher rules (Courier-Post)

    Mortgage broker Ed Smith Jr. has been arranging home loans for 24 years and it's never been tougher for him to close a deal than during the past few weeks of turmoil.
    2007-08-20 07:15:51

  • Layoffs at country's largest mortgage lender, report says (Chicago Tribune)

    Countrywide Financial Corp., the nation's largest mortgage lender, has begun laying off staff as part of its effort to ride out the credit crunch that has rocked the home loan industry, according to a report published Monday.
    2007-08-20 02:07:53

  • Thornburg Sells Some Mortgage Securities to Revive Home Lending (Bloomberg.com)

    Aug. 20 (Bloomberg) -- Thornburg Mortgage Inc., forced to stop taking home-loan applications earlier this month because of a cash crunch, said it sold $20.5 billion of mortgage-backed securities as part of a plan to return to ``business as usual.''
    2007-08-20 01:10:39

  • UPDATE 2-KKR Financial in $500 mln stock, rights offer

    Reuters - KKR Financial, an affiliate of buyout firm Kohlberg Kravis Roberts & Co, said it recently sold $5.1 billion of residential mortgage assets and interest rates swaps, which will result in a $40 million loss. It said it now owns about $5.8 billion in ...
    2007-08-20 12:52:00

  • UK July gross mortgage lending hits new July record-high of 34.4 bln ...

    Forbes - The CML said the strong level of mortgage lending is being driven by a large number of people re-mortgaging to try and get a better deal in case interest rates rise any further. The BoE has raised rates five times since August last year to their ...
    2007-08-20 09:46:00

  • Awesome Low Mortgage Rates & Payments

    Colleyville Courier - Get $300,000 for Only $1,187/Month or $200,000 for Only $765/Month. See the complete Mortgage Newsletter you can use as-is, or change any way you want. We even provide articles and art. Download a sample today. Already own your own UK property and ...
    2007-08-19 10:40:00

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