Featured on OwnHomeStyle.com.
Webster Financial plans to stop issuing home loans through brokers …
CNBC – WATERBURY, Conn. – Webster Financial Corp. plans to stop issuing mortgage loans through brokers or other intermediaries, focusing instead on lending directly, the bank said Friday. Webster unveiled a plan to reorganize and streamline its mortgage …
Fitch Downgrades $974M in Mortgage Bonds
Forbes – Fitch Ratings cut its rating on $973.9 million in bonds backed by mortgage debt because the agency assumes more people will fail to repay their home loans. Fitch downgraded bonds sold by WMC Mortgage Corp. and NC Capital Corp. These bonds derive …
Fitch Rates FHASI $265MM Mortgage P-T Ctfs, Series 2007-6
Forbes – All of the mortgage loans were originated or acquired in accordance with First Horizon Home Loans underwriting guidelines. The trust, First Horizon Mortgage Pass-Through Trust 2007-6, was created for the sole purpose of issuing the certificates. For …
Grim November for New-Home Sales
New York Times – Home loans have been harder to come by after lenders tightened their standards in response to the summer?s subprime mortgage crisis. Americans now appear to be holding out for real estate prices to drop even further in 2008, creating a buyers …
US new-home sales plunge to lowest level in more than 12 years …
International Herald Tribune – New-home sales tumbled 9 percent in November from October to a seasonally adjusted annual sales pace of … A lot of borrowers are being disqualified for loans. If you can’t qualify for a mortgage the game is over. For those who do qualify, it takes …
UPDATE 1-Connecticut’s Webster Fin’l sets mortgage cutbacks
Reuters – … banks based in New England, said on Friday it will close its wholesale and correspondent mortgage lending businesses, resulting in a loss of 100 jobs. The company said the job cuts will allow it to focus on retail banking and on making home loans …
Australia’s RAMS Home Loans wins extensions for 750 mln aud warehouse …
Forbes – SYDNEY (Thomson Financial) – Troubled Australian mortgage provider RAMS Home Loans Group Ltd said Friday it has gained extensions on 750 million Australian dollars in warehouse facilities that were due to mature on Monday. A fully drawn 500 million …
Mortgage rates rise at largest banks
MSN MoneyCentral – Central Pacific Home Loans also offered a 6 percent 30-year loan with 1.625 points, up from 5.625 percent and 2.25 points last week. Nationally, a 30-year fixed-rate mortgage averaged 6.17 percent with an average 0.5 point, according to mortgage giant …
New home sales slump; business activity up
Reuters – New single-family home sales dropped 9 percent to an … Rising mortgage delinquencies and foreclosures have roiled financial markets in recent months as a host of securities tied to those failing loans lost value.
Treasury prices higher after report shows new home sales at a 12-year …
San Diego Union-Tribune – … Treasury prices rallied Friday, pushing yields lower after news that new home … The shortfall was linked to a tough mortgage-writing environment and came despite … Lower premiums for the loans that banks make to each other signals that banks are …
