Mortgage and Financial News From 2008-2-6 Page 6

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  • Freddie Mac spent $280,000 on lobbying

    CNBC - WASHINGTON (AP) - Mortgage finance company Freddie Mac paid Porterfield & Lowenthal $140,000 in the second half of 2007 to ... The loan limits would rise to $729,750 from $417,000 in high-cost markets to help increase the availability of mortgages. ...
    2008-02-06 02:38:00

  • How plump are our piggy banks?

    Pittsburgh Post-Gazette - National census data from 2005 indicates only 33 percent of American homes are free of mortgages. About 17 percent of county homeowners have taken out either a second mortgage or home equity loan, which does not appear to differ widely from national ...
    2008-02-06 08:57:00

  • Buffett sitting on his wallet

    Globe and Mail - Equity markets are not yet bargain-priced and there's more pain to come on Wall Street because of the debacle in U.S. mortgages, says Warren Buffett, the world's second-richest man. “I was 370 points giddier yesterday at the end of the day than at ...
    2008-02-05 03:58:00

  • N. Rock team fears Virgin name will sway government (EARTHtimes.org)

    LONDON (Reuters) - Paul Thompson, the man leading the bid to rescue Northern Rock from the inside, is worried the government might favor a rival proposal from businessman Richard Branson because of the power of his Virgin brand.
    2008-02-06 08:55:03

  • N. Rock team fears Virgin name will sway government (KPLC Lake Charles)

    By Steve Slater and Clara Ferreira-Marques LONDON (Reuters) - Paul Thompson, the man leading the bid to rescue Northern Rock (NRK.L) from the inside, is worried the government might...
    2008-02-06 10:06:21

  • Ratings agencies move to restore credibility

    Financial Times - Fitch is reviewing its rating processes by individual product category and this week proposed new methods for rating complex debt securities backed by corporate debt, revised its loss assumptions for subprime mortgages and launched its second review ...
    2008-02-06 03:50:00

  • Northern Rock team fears Virgin (TVNZ)

    Paul Thompson, the man leading the bid to rescue Northern Rock from the inside, is worried the government might favour a rival proposal from businessman Richard Branson because of the power of his Virgin brand.
    2008-02-06 12:08:42

  • MBIA to Raise Additional $750 Million of Capital (Update3)

    Bloomberg - The new estimate resulted from doubling a loss reserve for expected claims on bonds backed by second lien mortgages. ``What we see is an almost day-to-day change in the rules of the game,'' said Donald Light, an insurance analyst at ...
    2008-02-06 03:42:00

  • Leader of internal plan to save Northern Rock takes on Virgin (International Herald Tribune)

    Paul Thompson is worried the British government might favor the rival proposal from Richard Branson because of the power of his brand.
    2008-02-06 12:57:13

  • Westpac lifts home-loan rates

    News.com.au - WESTPAC Banking Corp is the second big bank this week to raise its variable mortgage interest rates, following an official ... Mortgages: Westpac lifts home-loan rates South Australia: Jobs for sacked Mitsubishi workers Nice one: Macquarie chief to pocket ...
    2008-02-06 03:42:00

  • Educate yourself before entering into reverse mortgage (Garden City Telegram)

    I have been noticing many commercials for reverse mortgages for those older than 62 years of age on the television and in "senior" magazines. What is a reverse mortgage?
    2008-02-06 12:58:41

  • Village of Penland developer pleads guilty

    MSN MoneyCentral - In June, Cooper won a court order against the Penland developers, who he contends used inflated appraisals and phony second mortgages to collect $100 million before abandoning the project. First Charter has said it was unaware Penland lot purchasers ...
    2008-02-06 12:15:00

  • Productivity Data Supports The Fed (Forbes)

    Q4 report, while less than stellar, indicates inflation is not as much of a threat as it appeared.
    2008-02-06 01:42:24

  • First Regional Bancorp Posts Successful Results for 2007 against ... - StreetInsider.com (subscription)

    First Regional Bancorp Posts Successful Results for 2007 against ...StreetInsider.com (subscription), MI - 6 hours agoFirst Regional has never been involved in the riskiest segments of real estate credit, such as sub-prime mortgages. Nonetheless, it appears likely that the ...
    2008-02-06 03:06:32

  • Prudential Financial Q4 Profit Drops 11%; Revenue Up; Guides FY08 ... - RTT News

    Prudential Financial Q4 Profit Drops 11%; Revenue Up; Guides FY08 ...RTT News, NY - 6 hours agoCommenting on the results, Chief Executive Officer and Chairman-elect John Strangfeld said: “Despite turbulent financial markets in the second half of 2007, ...
    2008-02-06 03:11:07

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