Mortgage and Financial News From 2008-3-3 Page 6

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  • Program offers tips to keep your home

    Akron Beacon Journal - At the Borrower Outreach Day, there will be speakers giving information on a wide variety of issues, from property taxes to should one refinance to short sale/short payoff to reverse mortgages to rebuilding your credit.
    2008-03-03 05:39:00

  • New Margin Calls Could Sink Thornburg

    Street.Com - ... continue its business in the current manner," the company said in a statement. Last Wednesday, Thornburg was able to meet the first round of margin requirements on its reverse repurchase agreements, primarily for securities tied to Alt-A mortgages ...
    2008-03-03 08:45:00

  • Stocks decline on weak economic data

    MSNBC - Layton became chairman of the New York-based broker in November after it reported huge losses related to investments in risky mortgages. E-Trade rose 15 cents, or 3.5 percent, to $4.43.
    2008-03-03 12:06:00

  • Thornburg Back From the Brink

    Forbes - Presumably, Thornburg's CMOs were attractive to whoever bought them because the risks were known and its mortgages were of relatively high quality. Since Feb 28, Thornburg has been faced with around in maturing $270 million in reverse repurchase ...
    2008-03-03 03:04:00

  • Financials weigh on TSX as data shows economy in contraction in Dec.; N.Y. lower (MSN Money Canada)

    TORONTO - The Toronto stock market was slightly lower late Monday morning as big gains in commodity stocks were balanced by losses in the financial sector, while data showed the American economic slowdown put the Canadian economy into reverse at the end of 2007.
    2008-03-03 09:40:39

  • Club News (The Observer)

    AARP chapter in New Mexico, No. 663, holds its monthly meetings at Meadowlark Senior Center at 1:15 p.m. on the third Wednesday of each month. So far speakers have addressed ID theft, Rio Rancho’s focus on those over 50, gardening, and reverse mortgages and nursing homes.
    2008-03-03 10:17:25

  • Desjardins Takes C$116 Million Writedown on ABCP (Update1) (Bloomberg.com)

    March 3 (Bloomberg) -- Desjardins Group, Canada's biggest credit union, wrote down the value of its asset-backed commercial paper holdings by C$116 million ($118 million) in the fourth quarter, its second writedown in four months.
    2008-03-03 10:29:02

  • Companies try to steer investors’ view on mark-to-market accounting (Wichita Falls Times Record News)

    NEW YORK (AP) — Financial firms plagued by massive write-downs on their mortgage-related debt are trying to convince investors their fortunes aren’t as desperate as they seem.
    2008-03-03 12:56:50

  • Thornburg Back From the Brink (Forbes)

    Mortgage lender sells some assets at the end of a rough day.
    2008-03-03 03:12:07

  • Reverse Mortgages Coming Under Media Fire for Actions by Some Lenders (Senior Journal)

    March 3, 2008 – Reverse Mortgages, designed to help older people use the equity in their homes to finance their retirement, have enjoyed mostly praise in these first few years of the program designed by the government and featuring a government guarantee.
    2008-03-03 03:21:22

  • Thornburg labors to reduce danger of defaults (BizJournals)

    Thornburg Mortgage Inc. announced Monday afternoon the sale of $920 million in adjustable-rate mortgage debt. The transaction could rescue the company from $270 million in margin calls that had it eyeing potential defaults and had at least one analyst warning of possible bankruptcy. (TMA)
    2008-03-03 05:12:18

  • PMI Expects $236 Million Loss in U.S. Mortgage Units (Update1) (Bloomberg.com)

    March 3 (Bloomberg) -- PMI Group Inc., the Walnut Creek, California-based insurer, said its U.S. mortgage insurance units had a net loss of about $236 million in the fourth quarter.
    2008-03-03 03:06:58

  • Q&A: Mortgage squeeze tightening (BBC News)

    What do the latest changes in the mortgage market mean for first-time buyers?
    2008-03-03 04:00:27

  • Women face charges of fraud totaling $23.5M (The Indianapolis Star)

    Two women have been arrested on fraud charges and at least three residential appraisers face uncertain futures after state and federal officials tracked more than $23.5 million in loans made on three dozen high-dollar homes in the Indianapolis metropolitan area.
    2008-03-03 05:01:20

  • (AFX UK Focus) 2008-03-04 01:16 GMT: Banks bide time on Basel II launch (Interactive Investor)

    WASHINGTON (AP) - Major U.S. banks aren't rushing to take advantage of the greater flexibility in risk management allowed by the so-called Basel II accord, a bank regulator said Monday.
    2008-03-03 05:25:18

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