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

Previous Day: 2008-03-05

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• Optimistic about the stock market

  CNN Money - ... worst-case scenario based on a big further drop in home prices, leading to another round of major losses on subprime mortgages ... Next year, the Fed may have to reverse course and raise interest rates to prevent inflation from getting worse.
  2008-03-05 09:40:00

• More pain for home buyers

  News.com.au - You can bleat all you want, if you were counting on low 6% mortgages for the next 20 years you were dreaming. ... look at historical events in cycles such as this, it only prolongs the pain if you don't put the brakes on hard to reverse ...
  2008-03-04 03:53:00

• Thornburg slumps after multiple defaults

  Marketwatch - At the end of 2007, Thornburg had $9.2 billion of reverse repurchase agreements that matured during the first three months ... Alt-A mortgages are home loans sold to borrowers with better credit than those who take out subprime mortgages, and they often ...
  2008-03-06 07:30:00

• Crystal River Reports Fourth Quarter and Full Year 2007 Financial ...

  MSN MoneyCentral - The Company's Agency MBS are hybrid adjustable rate securities where the underlying mortgages have an initial fixed-rate ... preferred securities, (iii) funding facilities, which include warehouse lines and term bank facilities, and (iv) reverse ...
  2008-03-06 01:42:00

• Credit Swaps Thwart Fed's Ease as Debt Costs Surge (Update3)

  Bloomberg - Investors have shunned all but the safest government debt since subprime mortgages roiled credit markets. ... director of fixed-income and currency research at Baring Asset Management in London. ``Now we're seeing the reverse, except ...
  2008-03-06 09:32:00

• Stocks Slide on Fresh Credit Market Woes

  BusinessWeek - The notification from JPMorgan triggered cross-defaults under all of Thornburg's other reverse repurchase agreements and ... Subprime adjustable-rate mortgages represented 42% of loans in foreclosure.
  2008-03-06 08:42:00

• Mortgages & homes - House prices

  This is Money - Mortgages & homes - House prices ... Ireland - one of the leading nations for house price inflation until recently - saw prices reverse spectacularly, shifting ...
  2008-03-06 01:32:00

• South Bulletin Board

  Pittsburgh Post-Gazette - Lebanon -- A representative from Federated Mortgage Corp. will present a free seminar for adults age 60 and older titled, Reverse Mortgages Explained, at 10 a.m.
  2008-03-05 09:14:00

• South News Briefs

  Pittsburgh Post-Gazette - Lebanon, one of the sponsors, said the workshop will offer information for first-time home buyers, a report on the housing market, tips for avoiding predatory lending and resources on mortgage assistance and reverse mortgages.
  2008-03-06 03:34:00

• Thornburg off 51 percent on bankruptcy worry

  CNBC - Thornburg said the JPMorgan notification triggered defaults under its other reverse repurchase and secured loan agreements ... These include the higher-rated mortgages above $417,000, which Fannie Mae and Freddie Mac cannot buy and in ...
  2008-03-06 01:21:00

• Stocks drop amid credit concerns

  CNBC - Worries about credit moved to the fore of Wall Street's concerns after Thornburg Mortgage Inc. and a Carlyle Group bond fund disclosed troubles with investments backed by mortgages.
  2008-03-06 11:48:00

• Advisers Urge Older People to be Wary of Reverse Mortgages

  KYW News radio - Reverse mortgages, designed to help older people use the equity in their homes to finance their retirement, are not without problems. Independent advisers say they can be complex and expensive. The pitch sounds enticing: access to your home's equity ...
  2008-03-05 03:06:00

• Pros, cons and a pinch of fresh data

  Contra Costa Times - Reverse mortgages pros and cons: While I generally favor reverse mortgages for those older than 62 who tend to be house-rich and cash-poor, I definitely do not recommend that proceeds be used to purchase annuities or long-term-care insurance. My ...
  2008-03-06 12:52:00

• UPDATE: Thornburg Slumps After Defaults; Bear Cuts Shares To Underperform (Nasdaq)

  SAN FRANCISCO (Dow Jones) -- Thornburg Mortgage lost more than half its market value on Thursday after the mortgage lender said it defaulted on several financing agreements.
  2008-03-06 09:07:58

• Ian McAvity on the Economy: "Cockroaches are Coming out of the Closet" (Kitco.com)

  The Gold Report caught up with Ian McAvity, editor of Deliberations On World Markets, a technical newsletter now in its 35th year, covering precious metals, currencies and global equity markets.
  2008-03-06 09:10:19

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