Mortgage and Financial News From 2008-1-18 Page 26

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  • Texas thriller: The runaway grand jury (Miami Herald)

    The highest reaches of the Texas judicial system were consumed Friday by a real-life legal thriller that could be titled "The Runaway Grand Jury."
    2008-01-18 03:19:40

  • Ambac Insurance Loses AAA Ranking at Fitch Ratings (Update6) (Bloomberg.com)

    Jan. 18 (Bloomberg) -- Ambac Financial Group Inc. became the first bond insurer to lose its AAA rating after Fitch Ratings downgraded the company. Ambac Assurance Corp. was lowered two levels to AA and may be reduced further, New York-based Fitch said today in a statement.
    2008-01-18 03:21:45

  • Look who's bailing out Wall Street

    CNN Money - Look who's bailing out Wall Street The nation's biggest lenders are getting massive capital infusions from foreign investors ... Devastated by tightening credit markets and the mortgage mess, Wall Street firms have sent out an S.O.S. Their cries have ...
    2008-01-18 10:07:00

  • Washington Mutual swings to loss

    Marketwatch - WaMu, one of the largest mortgage lenders in the U.S., has been hit hard by the housing crisis. The company said in December it would cut 3,150 jobs, slashed its dividend and raised $2.9 billion by selling new securities. The shares have slumped more ...
    2008-01-18 11:54:00

  • 370,000 homeowners aided in second half of '07

    Boston Globe - NEW YORK (Reuters) - An alliance of mortgage counselors, lenders and servicing companies on Friday said the industry helped 370,000 homeowners avert foreclosure in the second half of 2007. The number is "significantly higher" than initially thought ...
    2008-01-18 08:41:00

  • Loan-rescue group says aid is increasing

    BusinessWeek - A coalition of lenders, investors and nonprofit groups -- dubbed Hope Now --was created in October to address soaring mortgage defaults and home foreclosures that have hobbled Wall Street banks and sent stock indexes plummeting. Final results for ...
    2008-01-18 01:49:00

  • Sub-prime heat hits India; IndyMac cuts jobs

    Economic Times - NEW DELHI: The sub-prime impact is far from over. One of the largest independent mortgage lenders in the US, IndyMac Bancorp, has decided to cut down staff with its temporary and outsourcing vendors by 27%, mainly in India. Currently, three service ...
    2008-01-18 11:19:00

  • Paulson calls mortgage modifications 'promising'

    Detroit News - Hope Now, which includes Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co., said that lenders reached agreements with 250,000 borrowers on repayment plans in the second half of 2007. Mortgage companies also made 120,000 loan modifications.
    2008-01-18 10:21:00

  • UPDATE 2-Hope Now - 370,000 US homeowners aided in 2nd half

    Reuters - The Hope Now alliance of mortgage counselors, lenders and servicing companies said on Friday the industry's letter-writing campaign led 16 percent of borrowers contacted to call their loan servicer. It said that was more than five times the ...
    2008-01-18 12:37:00

  • New York panel rethinks securities oversight

    International Herald Tribune - ... commission was formed in May, but its work has taken on new prominence in light of the turmoil in the subprime mortgage market. Wall Street brokerage firms have announced more than $100 billion in write-downs, and firms ranging from mortgage lenders ...
    2008-01-18 01:42:00

  • Disastrous Dow tumbles again

    CNN Money - Stocks have tumbled so far this year on worries about the threat of recession, with investment banks, mortgage lenders, home builders, retailers and other areas of the market affected by the collapsing housing and credit markets. Year-to-date as of ...
    2008-01-18 02:46:00

  • Commercial-Mortgage-Bond Protection Costs Surge (Correct)

    Bloomberg - Einhorn's funds at Greenlight have been ``broadly-short credit-sensitive names,'' he said, declining to say whether that includes commercial-mortgage bond, lenders or borrowers. The extra yield that investors seek over benchmarks on ...
    2008-01-18 01:20:00

  • Sub-prime heat hits India; IndyMac cuts jobs - Economic Times

    Sub-prime heat hits India; IndyMac cuts jobsEconomic Times, India - 2 hours agoOne of the largest independent mortgage lenders in the US, IndyMac Bancorp, has decided to cut down staff with its temporary and outsourcing vendors by 27%, ...
    2008-01-18 12:05:28

  • Palomar Chief Sees Structured Credit Opportunities - Hedgeworld (subscription)

    Palomar Chief Sees Structured Credit OpportunitiesHedgeworld (subscription), NY - 2 hours ago... collateralized debt obligations, the difficulties in evaluating them and their relationship with the other troubled mortgage lenders began to emerge. ...
    2008-01-18 12:23:13

  • Hope Now says 5% of subprimes helped - CNNMoney.com

    Hope Now says 5% of subprimes helpedCNNMoney.com - 2 hours agoThe coalition of lenders, investors and nonprofit groups - dubbed Hope Now -was created in October in response to soaring defaults and foreclosures that ...
    2008-01-18 12:26:34

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