Mortgage and Financial News From 2008-2-7 Page 11

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• NAB buys $1b of RHG mortgages

  News.com.au - NATIONAL Australia Bank (NAB) said it had acquired about $1 billion of mortgages originated by RHG at net asset value. RHG owns the closed mortgage book of the former RAMS Home Loans Group. RAMS sold its brand and distribution business and all the ...
  2008-02-07 05:57:00

• GMAC Posts $724 Million Loss as Mortgage Loans Sour (Update6)

  Bloomberg - Feb. 5 (Bloomberg) -- GMAC LLC, the auto and mortgage lending company 49 percent owned by General Motors Corp., posted a $724 million fourth-quarter loss as more than one of every 10 homeowners fell behind on their mortgage payments. The net loss ...
  2008-02-04 03:59:00

• UPDATE 1-OFHEO's DeMarco-Mortgage delinquencies on the rise

  Reuters - NEW YORK, Feb 7 (Reuters) - Serious mortgage delinquencies are rising on subprime loans to a rate not seen since the 2001 recession, and have spread well beyond riskier loans to areas previously deemed much safer, a top housing regulator said. Edward ...
  2008-02-07 12:28:00

• Alabama National BanCorporation Announces Intent to Delist from NASDAQ

  Forbes - Commercial mortgage services, including the origination of permanent commercial real estate mortgage loans for various lenders, are provided by Byars and Company, a division of First American Bank. Brokerage services are provided to customers ...
  2008-02-07 03:27:00

• OFHEO Criticizes Mortgage Proposal

  Washington Post - Funding one $600,000 mortgage takes as much capital as funding three $200,000 loans, James B. Lockhart III, head of an agency that oversees the federally chartered mortgage companies, told the Senate Banking Committee. The economic stimulus package ...
  2008-02-07 07:30:00

• The Rise of the Mortgage 'Walkers'

  Wall Street Journal - Fitch Ratings, while telling investors last Friday to expect additional "widespread and significant downgrades" on $139 billion worth of subprime loans, has cited a new factor in their "worsening performance." "The apparent willingness of borrowers ...
  2008-02-07 07:23:00

• National Australia Buys A$1 Billion of Rams Home Loan Mortgages - Bloomberg

  National Australia Buys A$1 Billion of Rams Home Loan MortgagesBloomberg - 1 hour ago... credit markets have increased funding costs and caused the bank to raise its mortgage interest rates two times this year. The sale reduces Rams's loan ...
  2008-02-07 06:38:53

• A solid salvage job - Business Spectator

  A solid salvage jobBusiness Spectator, Australia - 1 hour agoThe quality of its assets – its mortgage portfolio – was never in question. The portfolio is full of performing domestic home loans with mortgage insurance. ...
  2008-02-07 06:38:58

• Bond Raters in Effort to Repair Credibility - New York Times

  Bond Raters in Effort to Repair CredibilityNew York Times, United States - 1 hour ago... the value of securities backed by such loans has plummeted. Major banks have taken more than $130 billion in write-downs related to mortgage investments ...
  2008-02-07 06:43:19

• Abbey to push into the savings market - Telegraph.co.uk

  Abbey to push into the savings marketTelegraph.co.uk, United Kingdom - 1 hour agoThe lender passed on the Bank of England's quarter-point rate cut to customers on standard variable rate loans yesterday. Santander hit its annual ...
  2008-02-07 06:55:30

• Fannie Mae & Freddie Mac 's Plan To Ease The Housing Crisis - Nightly Business Report

  Fannie Mae & Freddie Mac 's Plan To Ease The Housing CrisisNightly Business Report, FL - 1 hour ago... buy home loans from banks and other lenders, then bundle them into securities. Together they now hold or guarantee nearly $5 trillion in mortgage debt. ...
  2008-02-07 06:57:56

• Australia Plans Measures Forcing Banks To Cut Exit Fees For Borrowers - RTT News

  Australia Plans Measures Forcing Banks To Cut Exit Fees For BorrowersRTT News, NY - 1 hour agoThe government's move followed the increase in mortgage interest rates by major banks in response to a 25bps hike in OCR by the Reserve Bank of Australia on ...
  2008-02-07 06:58:12

• MBIA boosts stock offer to $1 billion - CNNMoney.com

  MBIA boosts stock offer to $1 billionCNNMoney.com - 1 hour ago... but as the number of mortgage defaults has increased, ratings agencies have worried bonds backed by the troubled loans will also default, triggering an ...
  2008-02-07 07:11:59

• OFHEO Criticizes Mortgage Proposal - Washington Post

  OFHEO Criticizes Mortgage ProposalWashington Post, United States - 1 hour agoFunding one $600000 mortgage takes as much capital as funding three $200000 loans, James B. Lockhart III, head of an agency that oversees the federally ...
  2008-02-07 07:16:05

• Business wire briefs --02/08/2008 - Press-Enterprise

  Business wire briefs --02/08/2008Press-Enterprise, CA - 1 hour agoThe complaint, filed Wednesday in Los Angeles Superior Court, also names as a defendants KB Home Mortgage Co., Countrywide Home Loans Inc., Countrywide KB ...
  2008-02-07 07:16:08

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