Mortgage and Financial News From 2007-9-19 Page 17

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• Valley National Bancorp to Announce Third Quarter 2007 Earnings

  MSN MoneyCentral - Valley offers a wide range of deposit products, mortgage loans and cash management services to consumers and businesses including products tailored for the medical, insurance and leasing business. Valley's comprehensive delivery channels enable ...
  2007-09-19 08:44:00

• Daytime TV Rots Your Brain

  Boston Online - Mortgage loans are long-term products. If you are mired in an adjustable-rate or interest-only product, you are still mired in it. If you are developing a property for resale, that timeline is still long and those buyers are still skittish. Nothing ...
  2007-09-19 07:54:00

• Bank of America to Service Some American Home Loans

  Wall Street Journal - American Home Mortgage Investment Corp. has agreed to let Bank of America temporarily service 4,547 Freddie Mac mortgages, resolving a quarrel that the government-backed lender said put thousands of owners at "imminent risk" of losing their homes. In ...
  2007-09-19 10:17:00

• General Electric says to book 950 mln usd loss on mortgage unit

  Forbes - The decision came amid tightening credit amid a housing slump and problems in the sub-prime mortgage sector, where loans are given to people with patchy credit histories. GE is planning to book a loss of between 300 mln usd and 400 mln usd on the unit ...
  2007-09-19 09:20:00

• TGIC Leads Mortgage Insurer Gains on Rate Cut, Senate Action

  Bloomberg - A third positive is today's decision by the Office of Federal Housing Enterprise Oversight to allow Fannie Mae and Freddie Mac to buy more home loans, he said. Milwaukee-based MGIC Investment Corp., the largest U.S. mortgage insurer, rose $1 ...
  2007-09-19 11:36:00

• Wells Fargo Chairman Sees Mortgage Recovery

  CNBC - ... like it has arrived," Kovacevich said at a Bank of America conference in San Francisco monitored by Webcast. But he said prices on many securities have improved, and that once the market settles down, mortgage lenders will resume making home loans ...
  2007-09-19 10:53:00

• UPDATE 1-Wells Fargo chairman sees mortgage market recovery

  Reuters - But he said prices on many securities has improved, and that once the market settles down, mortgage lenders will resume making home loans that many investors now won't buy. San Francisco-based Wells Fargo, the nation's fifth-largest bank and second ...
  2007-09-19 12:19:00

• Morgan Stanley Profit Drops After Losses on LBO Loans (Update5)

  Bloomberg - In addition to being a mortgage provider, Saxon services home loans to people with patchy credit histories by collecting payments, maintaining records and foreclosing on delinquent borrowers. New York-based Merrill Lynch & Co., the third ...
  2007-09-19 12:26:00

• US SEC's Cox to testify at credit ratings hearing

  Reuters - The SEC does not directly regulate the origination and sale of mortgage loans, but it does regulate the securitized vehicles backed by mortgages, which are mostly sold to institutional investors. "We'll be describing the process that we're engaged ...
  2007-09-19 11:43:00

• Refinancing Boosts Mortgage Applications

  FOX News - Applications for home mortgages climbed for a third straight week as more borrowers sought to refinance loans on which payments may be about to rise, an industry group said Wednesday. The seasonally adjusted index of applications for home ...
  2007-09-19 09:27:00

• Mortgage insurers aided by regulatory moves

  Washington Post - ... including Genworth Financial (GNW.N), have said they expect to benefit from Fannie and Freddie's expansion. Genworth Chief Executive Michael Fraizer said in an interview earlier this month that Fannie and Freddie's share of all mortgage loans ...
  2007-09-19 11:07:00

• National Bank of Dubai launches offset home loans (Gowealthy)

  National Bank of Dubai (NBD) has announced the launch of NBD Offset Home Loans, the first offset mortgage product in the UAE.NBD Offset Home Loans, a mortgage loan with an associated high interest yielding current account, represents a milestone achievement in product innovation and sets new standards in customer benefits in addition to the market leading features of the successful NBD Home ...
  2007-09-18 10:49:55

• NBD launches offset home loans (AME Info)

  National Bank of Dubai has announced the launch of NBD Offset Home Loans, the first offset mortgage product in the UAE. The key feature of the loan is that the mortgage balance is offset by the credit balance in the current account, thus saving the customer interest and facilitating earlier repayment of the loan without being subjected to early repayment charges.
  2007-09-18 09:41:57

• GE to book 950 mln dlr loss on mortgage unit (AFP via Yahoo! News)

  General Electric expects to report a 950 million-dollar loss for the first nine months of 2007 at its subprime mortgage unit that it plans to close, a spokesman for the conglomerate said Wednesday.
  2007-09-19 10:42:43

• Mortgage insurers aided by regulatory moves (Reuters via Yahoo! News)

  Mortgage insurers' shares rose on Wednesday as investors saw them benefiting from regulatory moves that will boost their business.
  2007-09-19 11:07:38

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