Mortgage and Financial News From 2008-3-6 Page 12

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• Report: Minorities Hit by Foreclosures

  Baltimore Sun - These companies' high-risk loans made up 20 percent of all loans in predominantly minority communities, compared with 4 ... Chief among them were New Century Mortgage Corp., WMC Mortgage Corp., Fremont Investment & Loan, and Argent Mortgage Co.
  2008-03-06 04:02:00

• European Stocks, U.S. Index Futures Decline; Asian Shares Rise

  Bloomberg - Carlyle Capital Corp., which invests in AAA rated mortgage securities, failed to meet margin calls and said today it received a notice of default, while Thornburg Mortgage Inc., a U.S. specialist in adjustable-rate loans too big to be sold to Fannie ...
  2008-03-06 04:02:00

• U.S. home foreclosures soar, jobless remain unemployed

  Reuters - The Mortgage Bankers Association on Thursday said too that the delinquency rate hit its highest since 1985 in the final three months of 2007. While the rate of failing loans swelled across most mortgages, it was led by a growing wave of subprime ...
  2008-03-06 09:24:00

• Ratings agencies must give banks confidence - Fed

  Forbes - WASHINGTON4 (Reuters) - Ratings agencies that underestimated the risk of failing subprime mortgage loans must now give confidence that they are doing a better job, Federal Reserve Vice Chairman Donald Kohn said on Tuesday. "It's important that people ...
  2008-03-04 10:24:00

• Carlyle Fund Gets Default Notice After Margin Calls (Update5)

  Bloomberg - Peloton, the London-based hedge-fund firm run by former Goldman Sachs Group Inc. partners, announced plans last week to liquidate its ABS Fund after ``severe'' losses on mortgage-backed debt and demands from banks to repay loans. Thornburg Mortgage ...
  2008-03-06 04:02:00

• Margin calls, defaults ravage mortgage REITs

  Marketwatch - Alt-A mortgages are home loans sold to borrowers with better credit than those who take out subprime mortgages, and they often require less information.
  2008-03-06 09:10:00

• Where have all the vulture subprime buyers gone?

  Reuters - With borrowers now defaulting on their loans and falling into foreclosure, hundreds of billions of dollars of subprime mortgage bonds have been downgraded and more are likely to come. Continued.
  2008-03-06 08:42:00

• Treasurys rise on rising credit fears

  Seattle Post Intelligencer - A margin call takes place when securities bought with borrowed money decline in value and lenders demand that investors either pay back their loans or sell securities to cover losses. For months there have been worries that margin calls on mortgage ...
  2008-03-06 09:32:00

• Sector snap: Mortgage insurers slide

  MSN MoneyCentral - An increase in missed payments on mortgage loans forced the insurer to pay more claims. The Walnut Creek, Calif.-based company also said it delayed filing its annual report because the company is waiting for Financial Guaranty Insurance Co., a ...
  2008-03-04 11:29:00

• Fla. helps push foreclosures to record high

  Miami Herald - ... outstanding loans but were responsible for 30 percent of new foreclosures in the three-month period ending Dec. 31, according to numbers released by the Mortgage Bankers Association. In Florida, 10.69 percent of borrowers with first lien home loans ...
  2008-03-06 08:42:00

• FDIC Statement on Reporting of Securitized Subprime Adjustable Rate ...

  Bank Info Security - ... Corporation (FDIC) strongly encourages state nonmember institution mortgage servicers to utilize the HOPE NOW alliance's loan modification and loss mitigation reporting standards for securitized adjustable rate subprime residential mortgage loans.
  2008-03-06 09:03:00

• Tecnisa and Caixa Economica Federal Sign R$ 1.5 Billion Financing ...

  Forbes - ... in Brazil, in line with its philosophy of transparency and high standards of corporate governance, hereby informs the market that it has entered into a partnership with Caixa Economica Federal to provide working capital loans and mortgage loans for ...
  2008-03-06 04:02:00

• Minorities Hit Hardest By Subprime Loans

  San Diego Channel - Minorities Hit Hardest By Subprime Loans Report Recommends Mortgage Reform ... A new report says subprime lenders that went out of business with the industry's collapse targeted minority ...
  2008-03-06 08:06:00

• Agency Mortgage-Bond Spreads Rise; Markets `Utterly Unhinged'

  Bloomberg - Carlyle Group's publicly traded mortgage bond fund , which raised $300 million in July and used loans to buy about $22 billion of agency mortgage securities, failed to meet margin demands and has received a notice of default.
  2008-03-06 09:24:00

• Foreclosures hit all-time high

  CNN Money - Although they represent only 7% of all outstanding mortgage loans, they accounted for 42% of foreclosure starts during the quarter. Delinquencies stood at 5.82% of outstanding mortgages, up from 5.59% during the three months ended September 30, 2007 ...
  2008-03-06 09:39:00

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