Mortgage and Financial News From 2008-2-19 Page 7

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  • Rock mortgage book 'being shrunk'

    BBC Business - Northern Rock's mortgage book is already being reduced in size ahead of a move to public ownership, according to a mortgage broker. Ray Boulger, from mortgage brokers John Charcol, predicted that the mortgage book would be cut by 50% in the next two ...
    2008-02-19 09:00:00

  • Three lenders scrap 125% mortgage deals as criticism increases

    Guardian Unlimited - Melanie Bien, a director at mortgage broker Savills Private Finance, said: "The death knell for 125% loan-to-value (LTV) mortgage products was sounded when the government nationalised Northern Rock. How can the government be seen to encourage ...
    2008-02-19 03:56:00

  • Four companies chosen to bid for Absolut

    Daily Telegraph - ... for control of Vin & Sprit, the owner of Absolut Vodka, is hotting up after the Swedish government chose four companies ... 15bn programme which will see the government sell off stakes in telecoms operator TeliaSonera, Nordea Bank, mortgage lender ...
    2008-02-19 03:27:00

  • Duff & Phelps Investment Management Co. Provides Information on ...

    MSN MoneyCentral - In addition, the assets that support the preferred shares are primarily stocks and bonds of electric, gas, and communications companies and currently have no direct mortgage exposure. All three funds are in compliance with the asset coverage ...
    2008-02-19 02:58:00

  • UPDATE 1-Abu Dhabi state fund plans aerospace, energy buys

    Reuters - Mubadala chief operating officer Waleed al-Muhairi said the ongoing credit crisis, triggered by massive subprime mortgage defaults in the United States, has sapped liquidity from companies, providing good investment opportunities for those with ...
    2008-02-19 02:23:00

  • Subprime lawsuits seen hitting more industries

    Reuters - NEW YORK (Reuters) - Investor lawsuits spurred by the U.S. subprime crisis likely will spread beyond the financial and housing sectors, as more companies reveal writedowns linked to bad mortgage investments, a shareholder lawyer said on Tuesday ...
    2008-02-19 09:36:00

  • ALL BUSINESS: Better pension disclosure

    Boston Globe - Plenty of toxic mortgage-related debt is probably there; it's just buried from investors' view. Blame current accounting rules that only require companies to disclose the basics about their pension plans. That allows them to release the broadest of ...
    2008-02-19 02:58:00

  • Sen. Kohl taking shot at predatory lenders

    Green Bay Press-Gazette - Kohl said the legislation would help lawyers in states without mortgage fraud laws to help victims get their homes back. It may also allow states to create stronger laws than the federal legislation. While Kohl's legislation is aimed at the ...
    2008-02-19 05:40:00

  • ECONOMY: More U.S. Banks Agree to Stall Home Repossessions

    Inter Press Service - Some are suing lenders in hopes of recouping lost taxes and money spent on cleaning up foreclosed homes that, plaintiffs say, the mortgage companies should maintain. Other suits involve alleged predatory lending. The city of Baltimore, in the ...
    2008-02-19 03:49:00

  • Defense Contractor Sentenced to 12 Years for Bribery

    Washington Post - Wilkes, 53, was convicted in November of 13 felony crimes including bribery, conspiracy and fraud for giving the gifts to ... The government said Wilkes showered Cunningham with more than $700,000 in perks -- including $500,000 for a mortgage, $100,000 ...
    2008-02-19 05:50:00

  • Credit Suisse's CDO headache

    CNN Money - UBS ( UBS ) alone has taken over $19 billion in writedowns for its mortgage exposure. Combining the $2.85 billion charge with the announcement of $1.89 billion in writedowns last week, Credit Suisse has now reduced the value of its fixed-income holdings ...
    2008-02-19 02:51:00

  • Wheeling and dealing

    Boston Globe - Mortgage companies and real estate agents are drowning in homes. Between January and November 2007, lenders seized 6,970 properties from homeowners delinquent on mortgage payments, more than double the level in 2006. That does not include an unknown ...
    2008-02-19 11:38:00

  • Credit Suisse Catches Subprime Virus

    Newsday - GENEVA - After seeming to have skirted the worst of the mortgage issues plaguing the financial sector, Credit Suisse revealed ... Several traders are being investigated, but an outright fraud had not been detected, he said. "There are no discrepancies ...
    2008-02-19 01:33:00

  • Regulators' Subprime Mortgage Cases

    Chicago Tribune - ... municipal bond insurers MBIA Inc. and Ambac Financial Group Inc. , seeking information on how much the firms disclosed to cities and towns about their exposure to mortgage-related investments. On Feb. 1, Galvin accused Merrill Lynch & Co. of fraud and ...
    2008-02-18 01:19:00

  • UPDATE 2-US mortgage alliance to offer foreclosure "pause"

    Forbes - The move expands an initiative announced last week by the top six mortgage lenders called "Project Lifeline" to dozens of other companies that now represent about 90 percent of the subprime mortgage market and nearly 70 percent of the entire mortgage ...
    2008-02-19 12:21:00

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