Mortgage and Financial News From 2007-9-14 Page 11

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  • Legislative bull's eye: Mortgage lenders, brokers

    CNN Money - It sometimes can be as high as six months' worth of mortgage payments. A YSP is the difference between the the lowest interest rate a borrower qualifies for, and the actual rate he gets. A broker's fee may be based on it. Prohibit steering borrowers ...
    2007-09-14 09:40:00
  • Northern Rock shares crash as customers queue

    Daily Telegraph - Ray Boulger, the senior technical manager at mortgage broker John Charcol, said: "Paragon is probably the one to worry about most. It has the closest business model to Northern Rock." Paragon, a buy-to-let mortgage specialist, saw its shares plummet ...
    2007-09-14 11:35:00
  • Bay Area home sales plunge to 15-year low

    San Francisco Gate - It's still very challenging," said San Carlos mortgage broker Kevin Clay. "We're restructuring loans, trying to squeeze it down so that borrowers get a conforming (under $417,000) first loan, because that's where the good rates are." Clay said certain ...
    2007-09-14 11:20:00
  • German Stocks End Three-Day Gain; Deutsche Bank Paces Declines

    Bloomberg - Interhyp AG tumbled after the mortgage broker cut its sales and profit forecasts. The DAX Index lost 38.23, or 0.5 percent, to 7,497.74, limiting this week's advance to 0.8 percent. DAX futures expiring in September fell 41.5, or 0.6 percent ...
    2007-09-14 09:04:00
  • Nebraska sues mortgage broker

    CNBC - LINCOLN, Neb. (AP) - The state of Nebraska has sued an Omaha-based mortgage broker and intends to revoke its license for what the state says were predatory lending practices. A news release from the state Attorney General's Office and Department of ...
    2007-09-14 10:52:00
  • Mortgage borrowers told not to panic (Reuters.co.uk)

    LONDON (Reuters) - Mortgage borrowers have little to fear, despite Northern Rock's need for an emergency loan from the Bank of England, industry experts said, though they believe liquidity problems could slow the property market.
    2007-09-14 03:43:06
  • Mortgage jobs disappearing (In Business Las Vegas)

    The slowdown in the Las Vegas housing market and challenging conditions in the mortgage industry have slimmed the ranks of Nevadans who hold mortgage licenses.
    2007-09-14 10:21:46
  • Battle brewing over mortgage liability (The Record)

    WASHINGTON -- Banks that package mortgage securities -- and the institutional investors who buy them -- are fearful that lawmakers could in the future make them legally responsible for fraud committed by lenders.
    2007-09-14 06:29:34
  • Mortgage fears again weigh on financials stocks (Market Watch)

    BOSTON (MarketWatch) -- Financial stocks were mixed Friday after renewed fears emerged in the mortgage market and broker downgrades triggered by forecasts of slower economic growth.
    2007-09-14 08:05:05
  • Broker snap: Mortgage banks take hammering (ShareCast via Yahoo! UK & Ireland Finance)

    Mortgage lenders took a pasting Friday following a warning from Northern Rock that full year profits will miss forecasts and its application to the Bank of England for emergency support.
    2007-09-14 12:40:08
  • Nebraska Sues Mortgage Broker, Alleging Predatory Practices (KETV 7 Omaha)

    A news release from the state Attorney General's Office and Department of Banking and Finance said the actions were being taken against Advantage Mortgage Service and its owners.
    2007-09-14 11:03:37
  • Nebraska Sues Mortgage Broker (AP via Yahoo! Finance)

    The state of Nebraska has sued an Omaha-based mortgage broker and intends to revoke its license for what the state says were predatory lending practices.
    2007-09-14 10:44:18
  • Credit crisis: consumer compensation scheme

    Guardian Unlimited - ... by the scheme include stocks and shares, unit trusts, personal pension plans and long-term investments such as mortgage ... If a customer has lost money through bad advice, and the organisation that gave the advice is no longer able to pay out, the ...
    2007-09-14 04:47:00
  • Northern Rock Short-Sellers Benefit as Bank's Stock Plunges

    Bloomberg - Northern Rock said today it sought emergency funding from the Bank of England after rising credit costs left the mortgage ... Heeding brokers' advice may have been costly. Simon Maughan and Mamoun Tazi, analysts at MF Global in London, two days ago ...
    2007-09-14 04:47:00
  • Five online property tips

    This is Money - Buy-to-let tips and advice • Beat the second home tax trap • Ten tips for buy-to-let • Guide to buy-to-let mortgages • ... Hometrack will give you an online valuation report, using the same system adopted by High Street banks and mortgage lenders ...
    2007-09-13 10:35:00