Mortgage and Financial News From 2007-8-22 Page 7

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• RBI hikes CRR to 7%, leaves other key rates unchanged (Hindustan Times)

  India's key interest rates were kept unchanged as the country's central bank reviewed its monetary and credit policy for the current fiscal in the backdrop of some control over inflation.
  2007-08-22 04:02:29

• Accredited Home to cut 1,600 jobs; halts lending

  Washington Post - NEW YORK (Reuters) - Accredited Home Lenders Holding Co (LEND.O) said on Wednesday it will shut most of its mortgage business to help survive turmoil in subprime lending, and eliminate 1,600 jobs, or 62 percent of its work force. The mortgage lender ...
  2007-08-22 05:29:00

• HSBC to close Indiana mortgage office, lay off 600

  Worldnews.com - American Home Mortgage to shut down CNN American Home Mortgage to shut down Nation's 10th largest mortgage lender to close as housing slump drags on; 7,000 workers to lose their jobs . August 3 2007: 3:56 AM EDT NEW YORK (Reuters) -- American Home ... ...
  2007-08-22 03:20:00

• Mortgage Experts Launch 'Better Mortgage Bureau,' A Free Service to ...

  Forbes - We see an industry that needs trust and reliability today as much as home builders need bricks and mortar." At a time when mortgage fraud is reaching near epidemic proportions, consumers now for the first time will have a way to check the credentials ...
  2007-08-22 12:57:00

• Accredited Hibernates

  Forbes - Earlier this month, American Home Mortgage (other-otc: AHMIQ - news - people ) cut its staff from 7,000 strong to just 750, the company also announced that it will only maintain its thrift and servicing businesses. (See: "How Long ...
  2007-08-22 05:08:00

• Job losses spike as US mortgage firms feel downturn

  Raw Story - Mortgage industry layoffs rose Wednesday and have jumped dramatically of late as surging home foreclosures and a credit squeeze force home lenders across America to scale back business. Ailing mortgage companies have announced thousands of job cuts ...
  2007-08-22 06:12:00

• NAHREP, Wells Fargo To Co-Host Hispanic Home Buying Empowerment ...

  Forbes - DES MOINES, Iowa, Aug. 22 /PRNewswire/ -- Wells Fargo Home Mortgage and the National Association of Hispanic Real Estate Professionals (NAHREP) will host "Financial Education Empowers Everyone" Sept. 16 to mark Hispanic Heritage Month. The seminar ...
  2007-08-22 11:24:00

• Accredited Home Lenders shuts down much of its US business, no ...

  International Herald Tribune - SAN DIEGO: Accredited Home Lenders Holding Co. will slash its work force by more than half and stop accepting new mortgage applications in the U.S. as it struggles to survive in the troubled home lending industry, the company said Wednesday. San ...
  2007-08-22 05:51:00

• Indymac Announces Return to the Prime Jumbo Home Loan Market

  MSN MoneyCentral - Indymac Bank's home mortgage products consist primarily of single family, first lien mortgages, 90% of which are saleable to the GSEs (Fannie Mae, Freddie Mac, or Ginnie Mae) today. In addition, Indymac offers jumbo, full-documentation home loans ...
  2007-08-22 04:32:00

• Troubled Tucson mortgage lender files for bankruptcy

  AZCentral.com - American Home Mortgage quit writing home loans Aug. 3 and filed for bankruptcy protection three days later. Last week, regional mortgage lender HomeBanc Corp. filed for bankruptcy protection in U.S. Bankruptcy Court in Delaware. Leading lender ...
  2007-08-22 05:22:00

• FDIC Keeps Sharp Eye on Banks as Mortgage Defaults Rise

  CNBC - U.S. banks saw second-quarter earnings fall 3.4 percent to $36.7 billion from $38 billion in the year-ago period. Non-current home mortgage loans -- those overdue by 90 days or more -- totaled $27.5 billion at the end of the second quarter. That was ...
  2007-08-22 03:49:00

• Bank profits slide amid mortgage defaults

  MSNBC - Total past-due loans jumped by 10.6 percent, to $6.4 billion, and nearly half the increase came from home mortgage loans. FDIC officials acknowledged that more details of the housing market stress will show up in results for the current quarter. The ...
  2007-08-22 06:12:00

• Mortgage applications fall in latest week

  MSNBC - NEW YORK - Applications for residential mortgages fell last week for the first time in three weeks, weighed by a sharp drop in demand for home-purchase and refinancing loans, an industry group said on Wednesday. The Mortgage Bankers Association said ...
  2007-08-22 04:39:00

• American Home Mortgage Files for Bankruptcy (Builder Online)

  American Home Mortgage Investment Corp.
  2007-08-21 06:47:36

• Accredited Home Lenders shuts mortgage business (The Arizona Republic)

  San Diego-based subprime lender will cut workforce, close 65 branches. Comapny wil honor the loans it has committed to finance.{l} Reagor's real estate blog{b} Quality Home Loans files for bankruptcy{b} First Magnus Financial files for bankruptcy
  2007-08-22 03:12:57

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