Mortgage and Financial News From 2007-9-7 Page 13

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  • Yen Advances as Carry Trades Reverse on Stock Market Declines (Bloomberg.com)

    Sept. 7 (Bloomberg) -- The yen rose, heading for a weekly gain against 14 of the 16 most-active currencies, as declines in Asian stock markets prompted investors to shun the risk of trades funded with loans in Japan.
    2007-09-07 12:21:24

  • Yen Advances as Carry Trades Reverse on Stock-Market Declines (Bloomberg.com)

    Sept. 7 (Bloomberg) -- The yen headed for second week of gains and almost erased this year's losses as declines in stock markets prompted investors to shun the risk of trades funded with loans in Japan.
    2007-09-07 05:03:43

  • Reverse mortgage becoming popular (Honolulu Advertiser)

    Even in the midst of a housing recession, one segment of the mortgage market has been booming: reverse mortgages, which provide a line of credit or monthly payments to seniors 62 or older, using an existing home as collateral.
    2007-09-07 06:06:50

  • Parent Care Says Informed Elderly Can Avoid Mortgage Scams Thru the Safe Harbor of Reverse Mortgages (PRWeb via Yahoo! News)

    Confronted by rising costs that need to be met on fixed incomes, many elderly are seeking loans using their homes as collateral. Many have become unwitting prey to scam artists and put their most valued asset at risk. Reverse mortgages from legitimate sources may be a good option for many but an expert urges careful consideration before signing on the dotted line.
    2007-09-07 12:01:00

  • Parent Care Says Informed Elderly Can Avoid Mortgage Scams Thru the Safe Harbor of Reverse Mortgages (PRWeb)

    Confronted by rising costs that need to be met on fixed incomes, many elderly are seeking loans using their homes as collateral. Many have become unwitting prey to scam artists and put their most valued asset at risk. Reverse mortgages from legitimate sources may be a good option for many but an expert urges careful consideration before signing on the dotted line. (PRWeb Sep 7, 2007) Post ...
    2007-09-07 12:06:13

  • Seniors Money Canada to market reverse mortgages (Toronto Star)

    A subsidiary of Seniors Money International of New Zealand will market reverse mortgages in Canada under the name Seniors Money Canada. A Sept. 1 column incorrectly used the name Seniors Income.
    2007-09-07 01:51:03

  • Key buyers to stay away from mortgage market

    Reuters - U.S. banks, the second-largest investors, have balance sheet constraints. With the market's key accounts sidelined, the roughly $7 trillion market, which includes the subprime sector, is susceptible to falling prices due to a narrower investor base. ...
    2007-09-06 05:35:00

  • Japan's Two-Year Notes Complete Weekly Gain on BOJ Rate Outlook

    Bloomberg - Lenders began the process of seizing properties on 0.65 percent of U.S. mortgages in the second quarter, an all-time high, the Mortgage Bankers Association said yesterday. In the first quarter, that figure was 0.58 percent. The percentage of subprime ...
    2007-09-07 12:09:00

  • Record Number of Homes Entered Foreclosure in Second Quarter

    Wall Street Journal - Total loans past due rose to 2.73% in the second quarter, up from 2.58% in the first quarter and 2.29% in the second quarter of 2006. For prime adjustable-rate mortgages, 4.15% were past due, up 54% from the second quarter of 2006. Also, the number of ...
    2007-09-06 05:57:00

  • European Bank Stocks Decline, Led by UBS, Barclays; BHP Rises

    Bloomberg - The Mortgage Bankers Association said yesterday lenders started to seize properties on 0.65 percent of U.S. mortgages in the second quarter, up from 0.58 percent in the first quarter. Asian stocks fell, set for their first weekly loss in ...
    2007-09-07 12:30:00

  • Australian Commodity Stocks Advance, Led by BHP; Banks Slide

    Bloomberg - Late payments by subprime borrowers surged to one out of every seven loans and lenders began seizing properties on 0.65 percent of U.S. mortgages in the second quarter, an all-time high, the Mortgage Bankers Association said in a report today. The ...
    2007-09-06 11:47:00

  • Foreclosures climb to a record high

    Boston Globe - Lenders began the process of seizing properties on 0.65 percent of US mortgages in the second quarter, an all-time high, the Mortgage Bankers Association said in a report yesterday. In the first quarter, that figure was 0.58 percent. In Massachusetts ...
    2007-09-06 07:51:00

  • Hong Kong's Stocks Decline for 2nd Day; HSBC, China Mobile Drop

    Bloomberg - The share of all U.S. mortgages entering foreclosure increased to 0.65 percent in the second quarter, a record, from 0.58 percent in the first quarter, the Mortgage Bankers Association said yesterday. The percentage of subprime, or higher risk ...
    2007-09-06 10:29:00

  • Alesco loses 10% of debt income

    Philadelphia Inquirer - Alesco Financial Inc. said it would not receive income from two of its investments because of weakness in the subprime-mortgage market. The two investments in securities backed in part by risky second-lien mortgages accounted for $1.9 million - or ...
    2007-09-06 11:54:00

  • Light at the End of the Subprime Tunnel

    BusinessWeek - The percentage of U.S. mortgages entering the foreclosure process set a record in the second quarter of 2007, even before the late-summer subprime meltdown, the Mortgage Bankers Assn. announced on Sept. 6. The group's chief economist, Douglas Duncan ...
    2007-09-06 11:40:00

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