Mortgage and Financial News From 2007-9-20 Page 15

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• Fed, Treasury see boost in easing mortgage rules

  Reuters - WASHINGTON (Reuters) - The top two U.S. economic policymakers told Congress on Thursday that allowing the biggest home finance companies to buy larger loans could ease mortgage market strains, but should be coupled with tighter regulation of the ...
  2007-09-20 12:25:00

• More American Home bonds downgraded

  Newsday - More bonds from bankrupt American Home Mortgage have been downgraded. Fitch Ratings, the credit rating agency that has reviewed Melville-based American Home Mortgage's bonds as "subprime transactions," this week downgraded $1.2 billion in securities ...
  2007-09-20 08:29:00

• GE Money-Wizard Home Loans JV to invest $200 million in India (Calcutta News)

  Wizard India, a home loan joint venture between GE Money, General Electric's financial services arm, and Australian mortgage major Wizard Home Loans, will invest $200 million by 2011 in India, the companies announced here Thursday.
  2007-09-20 01:44:53

• GE Money-Wizard Home Loans JV to invest $200 million in India (IANS via Yahoo! India News)

  New Delhi, Sep 20 (IANS) Wizard India, a home loan joint venture between GE Money, General Electric's financial services arm, and Australian mortgage major Wizard Home Loans, will invest $200 million by 2011 in India, the companies announced here Thursday.
  2007-09-20 07:54:44

• 3 people charged in mortgage fraud case (Minneapolis-St. Paul Star Tribune)

  Three people associated with a suburban developer have been charged with racketeering and theft in a case alleging mortgage fraud based on property-flipping. The Hennepin County attorney's office filed eight charges each against the three defendants: Scott R. Rosenlund of Chaska, president of 10Spring, a home building and development company; Celeste Skaar of Orono, owner of New Day Capital, a ...
  2007-09-20 10:04:47

• Layoffs Rampant in the Mortgage Industry (NPR)

  American Home Mortage filed for bankruptcy last month after falling victim to the weak housing market. Aimee Waltz, a loan officer who recently lost her job with American Home Mortgage, says it's not just irresponsible lenders who've brought on the subprime mortgage crisis.
  2007-09-20 07:04:45

• Fed, Treasury see boost in easing mortgage rules (Reuters via Yahoo! News)

  The top two U.S. economic policymakers told Congress on Thursday that allowing the biggest home finance companies to buy larger loans could ease mortgage market strains, but should be coupled with tighter regulation of the firms.
  2007-09-20 12:25:46

• Business Minute: Stocks down...Bush notes unsettling times...Canadian ...

  WDAM-TV - WASHINGTON (AP) - Just two days after cutting interest rates, Federal Reserve Chairman Ben Bernanke (bur-NANG'-kee) tells a House panel that the credit crunch has created "significant market stress." He's also offering fresh assurances that ...
  2007-09-20 09:12:00

• Euro hits new record high against dollar

  New Straits Times - The euro on Thursday surged to a new record of 1.4065 dollars as a hefty cut to US interest rates took a toll on the US currency. Markets were also nervously awaiting statements on the American economy by US officials later in the day. The euro has ...
  2007-09-20 09:55:00

• Fitch Ratings Affirms Banco de Venezuela 'B+' IDR; Outlook Negative

  Forbes - Despite BV's successful expansion in consumer and middle market lending, lower interest rates (partially explained by the current system of ceilings and floors imposed by the government since mid 2005), the effect of the compulsory lending ...
  2007-09-20 07:17:00

• Bernanke's work may have only started

  BBC Business - And this week, he cut interest rates as economic activity and consumer confidence showed signs of weakening. In other wordsm ... Federal Reserve may come too late. But spare a thought for central bankers - navigating a safe path through the current ...
  2007-09-20 12:39:00

• Fears of dollar collapse as Saudis take fright

  Daily Telegraph - Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the ... and the rest of the world narrows rapidly, leaving America starved of foreign capital flows needed to cover its current ...
  2007-09-20 01:15:00

• Congress warned: Easy on loan fix

  CNN Money - ... announced it would raise the portfolio cap for both agencies to $735 billion, retroactive to July 1, 2007, roughly $7 billion above current caps. Bernanke outlined several initiatives that the Federal Reserve - which on Tuesday cut interest rates to ...
  2007-09-20 12:32:00

• Despite gains, gold lacks broad investor appeal

  Boston Globe - Greg Wilkins, chief executive of Barrick Gold Corp , the world's biggest gold producer, said on Wednesday current U.S. conditions of low interest rates and potential inflationary pressures were a "perfect storm" for gold prices. He also noted ...
  2007-09-20 11:06:00

• Despite housing, credit woes, Bush is optimistic about economy

  Detroit Free Press - buy paul's book, you know the guy who managed the fed for a couple years i heard he (greenie) had some interesting things to say about the current administrator, "mr. shrub." interest rates? heck, how about the debt? my kid's kids are already ...
  2007-09-20 11:28:00

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