Mortgage and Financial News From 2007-8-30 Page 18

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  • Mizuno Says Loan Crisis Shows Why Rates Need to Rise (Update2) (Bloomberg.com)

    Aug. 30 (Bloomberg) -- The Bank of Japan needs to raise interest rates to prevent excess borrowing that helped trigger the U.S. subprime mortgage crisis and ensuing financial-market turmoil, central bank board member Atsushi Mizuno said.
    2007-08-30 04:05:07

  • Mizuno Says Loan Crisis Shows Why Rates Need to Rise (Update3) (Bloomberg.com)

    Aug. 30 (Bloomberg) -- Japan needs to raise interest rates to prevent the kind of excess borrowing that helped trigger the U.S. subprime mortgage crisis, central bank board member Atsushi Mizuno said.
    2007-08-30 05:05:11

  • RBS dismisses CDO executive and six others as crunch bites

    Times Online - RBS aggressively and profitably marketed CDOs – packages of sub-prime mortgages and other asset-backed securities – both ... If successful, it may be able to reverse the wind-down. Morgan Stanley, Merrill Lynch and Lehman Brothers helped Cheyne ...
    2007-08-29 07:58:00

  • Big banks boom in sub-prime turmoil

    The Australian - ... household borrowing as brokerage firms, hedge funds and private equity groups used funding from the capital markets to get into traditional banking businesses, such as mortgages and corporate loans. That trend could now be about to reverse. "What the ...
    2007-08-28 09:54:00

  • Yields plummet on short-term Treasury bills

    Marketwatch - ... held no good news for debt markets. The Mortgage Bankers Association's weekly report showed the number of mortgage applications filed last week slipped 4.0% from the previous week, while the average interest rate on one-year adjustable-rate mortgages ...
    2007-08-29 10:07:00

  • Fading American dream of homeownership fuels rentals

    USA Today - The company has started marketing to homeowners who have fallen behind on their mortgages. It's also offering moving ... Now, the reverse is true. If the homeownership rate falls over the next two years from 68.2% back to its 2002 level of 67.9 ...
    2007-08-30 04:12:00

  • Alternatives to Long Term Care Insurance

    Insurance News Net - Reverse mortgages allow seniors to convert part of the equity in their homes into tax-free income without moving out of their homes, taking out new mortgage loans or losing control of their assets. The income can then be used to fund LTCi premiums.  ...
    2007-08-29 06:25:00

  • N.Z. company comes to Canada to tackle market for reverse mortgages

    680 News - TORONTO (CP) - New Zealand-based Senior's Money International has announced it is setting up shop in Canada to offer "reverse mortgages" in competition against the Canadian Home Income Plan reverse mortgages offered by Home Equity Income Trust (TSX ...
    2007-08-28 06:12:00

  • Fading American dream of homeownership fuels rentals (USA Today)

    Chris Ervin is renewing his lease at the Kirkway Apartments outside Detroit. He and his wife, Rachel, are thinking about moving out of state, and they know that if they bought a house now, it could take six to nine months to sell it because the area's real estate market is so depressed.
    2007-08-30 04:42:37

  • Property Finance major player in reverse mortgage market (NZPA via Yahoo!Xtra News)

    A company controlled by collapsed finance company Property Finance was a major player in New Zealand's fledgling reverse mortgage market.
    2007-08-30 04:52:38

  • Reverse mortgage shop set up by N.Z. company (Toronto Star)

    New Zealand-based Senior's Money International has announced it's setting up shop in Canada to offer "reverse mortgages" that will compete against the Canadian Home Income Plan product offered by Home Equity Income Trust.
    2007-08-29 08:44:30

  • IIFCL to issue bonds to RBI for $5 bn funding

    Economic Times - The ministry of finance has shot down the RBI proposal to refinance the offshore subsidiary of IIFCL to fund infrastructure projects. The proposal is a test case for other banks and several corporates that have floated insurance JVs and are looking ...
    2007-08-30 03:29:00

  • US CREDIT-Altria swaps may benefit longer term from spinoff

    Reuters - Chairman and chief executive Louis Camilleri also said during a conference call that the company would tender for $4 billion in Altria debt before the spinoff and refinance that debt. [ID:nN29354277] "Over the long term, we see 5-year CDS ...
    2007-08-29 08:27:00

  • Petitions to foreclose soar

    Boston Globe - They are finding it more difficult to refinance and resell, so more foreclosures are making it to the auction process." Petitions to foreclose are the first step in the foreclosure process and do not always end in actual foreclosure, the Warren Group ...
    2007-08-29 08:34:00

  • Fitch assigns investment grade "BBB" rating to Macy's $350 million ...

    CNBC - Macy's plans to use proceeds from the offering to refinance short-term borrowings and for general corporate purposes. Fitch said the rating reflects Macy's size and scope as the largest department store operator in the U.S., as well as its successful ...
    2007-08-29 08:20:00

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