Latest News in Home, Mortgages, and Loans – Dec 7, 2007

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US SWAPS-Spreads swell on solid data, mortgage hedging
Reuters – The recent safe-haven rally in Treasuries made home loans less valuable because lower yields, benchmarks for most U.S. mortgage rates, lead to faster mortgage prepayments. As a result, mortgage companies would not have collected all the interest …

Offer: Lousy credit? Buy somebody else’s
Los Angeles Times – You are here: LAT Home > Business News … Are there people out there who are going to say that it’s mortgage fraud?” he said … that have agreed to add TradeLine customers’ names to the records of loans …

MGIC to limit coverage of risky loans
CNBC – The insurer also is putting in some geographic restrictions in places like California and Florida — two areas hard-hit by the mortgage crisis. MGIC will insure loans up to 95 percent of a home’s value, meaning they won’t insure homes with no equity …

Calderon Boosts Mexico’s Mortgage-Backed Bond Market (Update2)
Bloomberg – Mexico’s mortgage bond market has grown 87 percent this year to $4.9 billion, accounting for about 6 percent of Mexico’s $81 billion of outstanding home loans. The U.S. mortgage market, by comparison, totals $10 trillion. Mexico’s market …

CEO Book Club

Forbes – How America’s biggest companies hire and motivate their retail sales employees, from the man who’s worked at most of them. Auto Insurance Quotes Car Insurance Quotes Credit Card Processing Credit Cards Ecommerce Hosting Health Insurance Leads Home …

Lending oversight overdue for reform
Baltimore Sun – The cowboys were the mortgage brokers, who handle most Maryland home loans and who by definition have a fleeting relationship with the borrower. Brokers had huge incentives to issue loans people couldn’t afford, bury bombs in the fine print and pretty …

For Bush, a Political Calculus in Forging Ahead on Mortgage Aid
Washington Post – … to homeowners facing foreclosure involves a careful political calculation — that the American dream of owning a home is … The number of foreclosures in the third quarter hit a record, and the percentage of mortgage loans behind on payments reached the …

Mortgage pinch hasn’t slowed consumer credit use
Houston Chronicle – That slowdown has reflected tighter bank lending conditions as a serious slump in housing has sent home prices falling and increased the level of mortgage defaults. For September, auto loans actually shrank at an annual rate of 1.3 percent following a …

Mortgage aid plan puts limit on relief
Baltimore Sun – Have less than 3 percent equity in the home ? Be unlikely to qualify for refinancing … The Mortgage Bankers Association said yesterday that the share of loans that lenders were trying to foreclose on reached a record high this summer: about 1 …

Bush’s Bad Mortgage Medicine
Forbes – Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E-mail Newsletters … According to analysis by Barclays Capital, the “freezer-teaser” plan applies to just 240,000 subprime loans. The Mortgage Bankers …

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