Mortgage and Financial News From 2008-2-10 Page 52

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  • How could so many people afford homes at peak of boom?

    Press Democrat - But no one ever explained it to these folks," said Marty McCormick, owner of McCormick and Co., a Santa Rosa mortgage broker. Powerful forces were at work to undermine the lending system's checks and balances. As home sales accelerated, lenders battled ...
    2008-02-09 11:17:00

  • (KIMBERLY P. MITCHELL/Detroit Free Press)

    Detroit Free Press - But their broker at Citizens First Mortgage called last week and said if they didn't close by Jan. 31, they would lose the zero-down option. The rush to close on zero-down deals is the result of a letter that mortgage backer Fannie Mae sent to lenders ...
    2008-02-10 12:21:00

  • Mortgage values are a mystery in bond funds

    Allentown Morning Call - Scheidt said he is concerned because he thinks some mutual funds are using ''stale prices'' on some of the mortgage-related bonds -- prices derived from a call to a broker weeks earlier. In the recent market, with few -- if any -- buyers interested ...
    2008-02-10 12:07:00

  • Subset of ARMs set to 'detonate' - Arizona Daily Star

    Subset of ARMs set to 'detonate'Arizona Daily Star, AZ - 1 hour ago"We call them neutron loans because they're like a neutron bomb," said Brock Davis, a broker with US Express Mortgage Corp. in Las Vegas. ...
    2008-02-09 11:10:12

  • Tucson should be OK if the economy tanks - Arizona Daily Star

    Tucson should be OK if the economy tanksArizona Daily Star, AZ - 1 hour agoBroker profits were guaranteed, regardless of whether the loans were paid back. It is this multitrillion dollar flood of Asian-, Arab- and European-owned ...
    2008-02-09 11:10:45

  • Rules for mortgages squeezing buyers - Rochester Democrat and Chronicle

    Rules for mortgages squeezing buyersRochester Democrat and Chronicle, NY - 54 minutes agoThe last quarter of 2007 was particularly slow, brokers said, but sales picked up in January and could gather steam because of mortgage rates that are at ...
    2008-02-10 12:05:36

  • Hidden Threat In Bond Funds - Hartford Courant

    Hidden Threat In Bond FundsHartford Courant, United States - 53 minutes ago... he thinks some mutual funds are using "stale prices" on some of the mortgage-related bonds — prices derived from a call to a broker weeks earlier. ...
    2008-02-10 12:06:26

  • Aussie ARM can pay off - Denver Post

    Aussie ARM can pay offDenver Post, CO - 52 minutes ago... in your account to work for you (by drawing upon the balance in your account to calculate principal and interest)," said mortgage broker Kurt Rogers. ...
    2008-02-10 12:08:01

  • 2 commissioners tackle ethics on volunteer boards - Charlotte Observer

    2 commissioners tackle ethics on volunteer boardsCharlotte Observer, NC - 52 minutes agoBroaddus was among the five -- she is a mortgage broker and commercial real estate agent. In February, Lane pushed to require board members to sign ...
    2008-02-10 12:08:01

  • Days of zero-down mortgages over - Detroit Free Press

    Days of zero-down mortgages overDetroit Free Press, United States - 51 minutes agoMany counties in Michigan and other states are considered declining markets by mortgage companies and banks. That means mortgage brokers cannot sell the ...
    2008-02-10 12:08:58

  • Five mortgage blunders newbies should avoid - MiamiHerald.com

    Five mortgage blunders newbies should avoidMiamiHerald.com, FL - 45 minutes agoAsk each mortgage broker about what is negotiable. One fee that's up for discussion is the origination fee. See if you can get a zero origination fee, ...
    2008-02-10 12:14:40

  • Five mortgage blunders newbies should avoid (Miami Herald)

    House-hunting is fun (at first) when you're armed with your list of must-haves. You need three bedrooms, and popcorn ceilings are deal breakers. Picky? Perhaps, but you feel prepared. Along with knowing you detest split-level ranch homes, you also need to be ready to take on a monster loan.
    2008-02-10 12:15:23

  • Rules for mortgages squeezing buyers (Rochester Democrat and Chronicle)

    The changing guidelines in mortgage lending are impacting the real estate market.
    2008-02-10 12:21:58

  • Mortgage values are a mystery in bond funds (The Morning Call)

    Take a look at your bond mutual funds.
    2008-02-10 12:29:27

  • Hidden Threat In Bond Funds (Hartford Courant)

    Take a look at your bond mutual funds.
    2008-02-10 12:33:21

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