Mortgage and Financial News From 2008-2-21 Page 9

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  • Candidates Differ on Housing

    Wall Street Journal - The proposal wouldn't apply to mortgages on second homes or investment properties. Mr. Obama said the proposal was shortsighted because it would make lenders less willing to approve new loans or modify existing ones.
    2008-02-19 07:30:00

  • Dresdner Rescues $19 Billion SIV, Follows Citigroup (Update10)

    Bloomberg - K2, named after the world's second-highest mountain in the Himalayas, was started in 1999 by Paul Clarke and Alan Harley ... The fund has no ``direct exposure'' to securities backed by subprime or midprime debt, the mortgages made to U.S. homeowners ...
    2008-02-21 11:00:00

  • ANALYSIS-UBS keeps Ospel more as lightning rod than chairman

    Forbes - ... Swiss bank's history could go higher were ratcheted up last week when UBS revealed that its exposure to risky U.S. mortgages ... But a swift writedown could force UBS into a second fund-raising exercise to protect its capital ratios, possibly entailing ...
    2008-02-21 10:10:00

  • Manhattan real estate firm buys second Albany office building

    Albany Business Journal - The Heights Real Estate Co. of Manhattan has bought another office tower in downtown Albany, N.Y., this one a 10-story building at 100 State St. that cost $3.5 million. The deal closed today. The seller was Galesi Management Corp. in Rotterdam. The ...
    2008-02-21 08:29:00

  • UPDATE 2-Reuters Summit-US seeks private sector fix for housing

    Forbes - Christopher Dodd of Connecticut that the government consider creating a special fund to buy up distressed mortgages did not ... The group has said it helped modify some 870,000 loans in the second half of last year.
    2008-02-21 12:47:00

  • Jumbo mortgages: The best deals

    CNN Money - Home prices have fallen 10% or more in once-hot markets, and interest rates on mortgages of $417,000 or less have sunk to ... Take out a second mortgage Say you need to borrow $800,000 to finance the purchase of your new home but intend to repay $400 ...
    2008-02-17 03:58:00

  • SocGen posts record Q4 loss after trading hit

    Reuters - PARIS (Reuters) - Societe Generale (SOGN.PA: Quote , Profile , Research ), France's second-biggest listed bank, posted a ... latest leading bank to post weak results as the world's financial sector reels from losses related to U.S. subprime mortgages.
    2008-02-21 12:40:00

  • Morgan Stanley Hires DeRegt for Risk Oversight Role (Update3)

    Bloomberg - Mack, 64, is now stepping up efforts to police risk-taking after bad bets on securities tied to subprime mortgages led to a $9.4 billion writedown and a quarterly loss he described as ``embarrassing.'' Morgan Stanley, the second-biggest U.S ...
    2008-02-21 01:09:00

  • Rates on 30-year mortgages rise

    Buffalo News - Rates on 30-year mortgages rose to the highest level in seven weeks, breaking above the 6 percent level. ... death leaves many mourning their best friend Two Depew firefighters injured in Transit Hill Plaza blaze Budwey’s is second ...
    2008-02-21 12:26:00

  • Caisse de depot takes C$1.9 billion provision on ABCP

    Reuters Canada - The second component is C$469 million of provisions on U.S. subprime mortgages with a face value of C$782 million. "For most of the amount ($1.4 billion), the probability of recovery at maturity is deemed high, in particular because it is not ...
    2008-02-21 11:00:00

  • SunTrust Sheds Piggyback Program

    Street.Com - ... by Oppenheimer & Co., has opted to eliminate indefinitely its combo loan program, according to mortgage brokers that TheStreet.com has contacted. Combo loans -- otherwise known as piggyback loans -- are a package of first and second mortgages ...
    2008-02-21 09:34:00

  • Auction Debt Succumbs to Bid-Rig Taint as Citi Flees (Update3) (Bloomberg.com)

    Feb. 21 (Bloomberg) -- The collapse of the auction-rate bond market, where state and local governments go to raise cash, demonstrates that regulators are no match for Wall Street.
    2008-02-21 11:29:02

  • Couple puts up 'sold' sign after a 14-month process (The Oregonian)

    GRESHAM -- Vicki Olson was ecstatic when her house in Gresham's Hunters Highland neighborhood sold last month after 436 days on the market, freeing her from the heavy burden of two mortgages -- one for that home and a second for the new West Linn home Olson and her husband had already purchased.
    2008-02-21 11:29:50

  • Caisse de depot takes C$1.9 billion provision on ABCP (MSN Money Canada)

    TORONTO (Reuters) - Quebec's public pension fund manager Caisse de depot et placement said on Thursday that it took a C$1.9 billion provision in fiscal 2007 on C$12.6 billion of investments in asset backed commercial paper.
    2008-02-21 11:42:00

  • PMI Group Spent $400k Lobbying Congress (AP via Yahoo! Finance)

    PMI Group Inc. spent $400,000 in 2007 to lobby on making mortgage insurance a permanent tax deduction and expanding federal mortgage offerings.
    2008-02-21 01:39:10

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