Mortgage and Financial News From 2007-12-5 Page 6

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• Treasury to unveil mortgage plan details

  MSNBC - President Bush Thursday is set to unveil details of a plan to help head off a wave of mortgage foreclosures hitting homeowners whose adjustable-rate loans are resetting to monthly payment they can’t afford. Under terms of an agreement hammered out ...
  2007-12-04 03:54:00

• TransLand Wins Dismissal of Ch 11 Case

  Forbes - Bankruptcy Court in Orlando to dismiss the involuntary bankruptcy case after TransLand agreed to sell off mortgage loans to pay back the banks. The banks, along with Federal Trust (amex: FDT - news - people ) Bank, filed an ...
  2007-12-05 11:21:00

• Mortgage CDO Liquidates at Below 25 Cents on Dollar (Update1)

  Bloomberg - CDOs repackage assets such as subprime-mortgage bonds or buyout loans into new securities with varying risks. Credit- default swaps for asset-backed bonds offer payments if the debt isn't repaid as expected, in return for regular insurance-like ...
  2007-12-05 03:53:00

• Experts say saving more or paying down other debt may be better than ...

  CNBC - Bob Walters, chief economist of Quicken Loans, an online mortgage lender based in Livonia, Mich., said homeowners need to ask themselves what the very best use of a spare dollar could be. Look at your mortgage interest rate, say 6 percent, he said ...
  2007-12-05 02:27:00

• Lobbyists hope Bush rate-freeze plan prevents Democrats' bankruptcy ...

  CNBC - Led by Treasury Secretary Henry Paulson, the plan developed by federal regulators and banking executives would ask mortgage servicers to voluntarily freeze rates on subprime loans made to borrowers with weak credit. Details will be unveiled Thursday. ...
  2007-12-05 03:03:00

• Prudential Mortgage Cap originates $232.9M affordable housing loans yr ...

  Forbes - SAN FRANCISCO (Thomson Financial) - Prudential Mortgage Capital Co., a unit of Prudential Financial Inc. , said Wednesday it originated $232.9 million year-to-date in affordable housing loans. Prudential Mortgage said it had $56.5 billion in assets ...
  2007-12-05 12:11:00

• Fitch Affirms 11 Classes From 2 Truman Capital Mortgage Loan Trust ...

  Forbes - The collateral for the above series consists of performing, sub-performing and re-performing fixed- and adjustable-rate mortgage loans, secured by first and second liens on residential properties. All of the loans are serviced by GMAC Mortgage ...
  2007-12-05 07:39:00

• Bush set to unveil plan to battle mortgage crisis

  International Herald Tribune - ... Henry Paulson has worked closely with the investor trade group -- the American Securitization Forum -- as well as mortgage servicers and lenders to nail down a comprehensive plan to modify troubled loans. Under the plan put forward by mortgage ...
  2007-12-05 04:00:00

• Fitch Affirms 5 RMBS Classes from 1 UBS MARM Securitization

  Forbes - As of the November 2007 distribution date, the pool factor (i.e., current mortgage loans outstanding as a percentage of the initial pool) is approximately 35% and the transaction is seasoned 39 months. Further information regarding current ...
  2007-12-05 02:27:00

• American Home Mortgage Holdings' lenders seek to sell construction ...

  CNBC - American Home Mortgage Holdings' lenders seek to sell construction loans ... WASHINGTON - American Home Mortgage Holdings Inc.'s secured lenders are seeking bankruptcy court ...
  2007-12-05 02:27:00

• Wary of Risk, Bankers Sold Shaky Mortgage Debt

  New York Times - As the subprime loan crisis deepens, Wall Street firms are increasingly coming under scrutiny for their role in selling risky mortgage-related securities to investors. Many of the home loans tied to these investments quickly defaulted, resulting in ...
  2007-12-05 07:06:00

• Fitch Affirms 28 RMBS Classes from 5 Citicorp Mortgage Securities Inc ...

  Forbes - The mortgage loans consist of 12-30-year fixed-rate mortgages extended to prime borrowers and are secured by one- to four-family residential properties. As of the November distribution date, the transactions are 13 to 28 months seasoned and the pool ...
  2007-12-05 08:36:00

• FBI to Focus On Area Mortgage Loan Fraud

  Washington Post - In another case, Jerold Levert, a Cleveland accountant, was sentenced to 10 years in prison for mail fraud as part of a wide-ranging scheme in which he manufactured documents to help customers get mortgage loans they otherwise would not have qualified ...
  2007-12-05 06:52:00

• Democratic candidates weigh in on mortgage crisis (Washington Post)

  NEW YORK (Reuters) - Democratic presidential candidates seized on the U.S. mortgage crisis on Wednesday, with Hillary Clinton and John Edwards offering competing plans to help millions of people facing steep rate hikes or loss of their homes.
  2007-12-05 05:10:00

• Bush set to unveil plan to battle mortgage crisis (Washington Post)

  WASHINGTON (Reuters) - President George W. Bush is expected to unveil a plan on Thursday to help struggling American homeowners avoid foreclosure, addressing a mortgage crisis that risks tipping the U.S. economy into recession and has shaken financial markets around the world.
  2007-12-05 07:09:47

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