Latest News in Home, Mortgages, and Loans – Dec 17, 2007

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BBVA Mexico unit places first mortgage-backed debt
Reuters – Last: MEXICO CITY, Dec 17 (Reuters) – The Mexican arm of Spain’s BBVA bank plans to pass $250 million worth of home loans to investors within the next few days, its first mortgage-backed debt issue in the country’s fast-growing housing industry. BBVA …

Delta Financial becomes next mortgage lender to file for bankruptcy …
CNBC – Turmoil in the secondary mortgage market that buys packaged home loans produced by companies such as Delta has made buyers scarce. Notified by its warehouse lenders that it had defaulted, Delta said it would file for bankruptcy protection. Shares in …

US regulator’s optimism over home loans
MSN MoneyCentral – There is no limit to the amount of money the Federal Home Loan Bank system can lend to support the mortgage finance industry as long as investors are willing to keep on buying its debt at moderate prices, said the system’s regulator. “I do not think …

AICCCA Says Mortgage Crisis Will Drive Consumers to Credit Counseling
CNBC – New home construction has slowed and mortgage credit has tightened. Uncertainty about the extent of bad mortgage loans has destabilized the multi-$trillion mortgage backed securities marketplace, depriving it of necessary liquidity. “Without …

31 indicted for home loan fraud

MSN MoneyCentral – … owner of Palm Bay Real Estate Appraisals; and Katherine Harris, former president and part owner of Floridian Home Title Corp., were charged with conspiracy to commit wire fraud and/or wire fraud for their roles in obtaining fraudulent mortgage loans …

Goldman Shines
Forbes – Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists … of the pressure on the financial market, which was hammered by the subprime mortgage … market for the risky investment vehicles created by the packaging of such loans …

Calls Grow for Housing Crisis Response
Forbes – Support is growing on several fronts in Washington for mortgage-industry reforms and homeowner-assistance programs with broader potential impact than the Bush administration’s plan to freeze interest rates on a small percentage of home loans. So far …

Mortgage company accused of ‘bait and switch’ advertising
MSN MoneyCentral – Linden Loans LLC has been accused by the Washington state Department of Financial Institutions of using “bait and switch” advertising. According to state officials, the Kirkland mortgage broker called itself in TV ads the “Home of the 1 percent …

Bears Capitulate as Treasuries Thwart Chart Watchers (Update3)
Bloomberg – He acknowledged in an interview last week that “trends have changed” since July, when subprime mortgage losses began to … The difference between the interest rate banks pay for three-month loans and government borrowing costs, called the TED …

Grand jury indicts 9 for mortgage fraud
Anchorage Daily News – U.S. Attorney Nelson Cohen said today that the charges reflect a widespread, three-year scheme to defraud 13 banks and home-loan mortgage companies. The alleged fraud encompassed 57 loans, netting more than $1.7 million in profits and more than $1 …

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