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

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  • Accredited Home to cut 1,600 jobs; halts lending (Reuters via Yahoo! News)

    Accredited Home Lenders Holding Co 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.
    2007-08-22 05:22:29

  • Job losses spike as US mortgage firms feel downturn (AFP via Yahoo! News)

    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.
    2007-08-22 05:43:43

  • Mortgage Lenders Move to Cut Costs (Washington Post)

    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.
    2007-08-22 06:00:41

  • Mortgage lender Quality Home Loans files for bankruptcy (The Daily Record)

    WASHINGTON - Wholesale mortgage lender Quality Home Loans became the latest victim of the subprime home loan crisis, filing for Chapter 11 protection.
    2007-08-22 04:13:16

  • HSBC scraps mortgage fees, raises rates

    Worldnews.com - HSBC has removed fees on its standard mortgages in an attempt to simplify the market , but critics warn that you could still save money by going for a deal with lower interest rates. The HSBC deal will be available to new and existing customers ...
    2007-08-22 01:11:00

  • UPDATE 1-HSBC to close Indiana mortgage office

    Reuters - Investors are worried HSBC will rack up more mortgage-related losses in the second half of this year when several billion dollars worth of those loans reset at higher interest rates amid a slumping U.S. housing market. Earlier this year, HSBC ...
    2007-08-22 03:42:00

  • Travidia Chosen to Power Mortgage Finder Directory Service on ...

    Market Wire - ... America, Europe, South Africa and Eurasia, today announced that washingtonpost.com has selected Travidia's AdScripter technology to power its Mortgage Finder Directory , a special advertising database that lets users find and compare mortgage rates in ...
    2007-08-22 04:32:00

  • Ind.: HSBC to cut 600 mortgage jobs

    Boston Globe - U.S. mortgage foreclosure rates jumped 93 percent last month compared to July 2006. Higher interest rates and weaker home values have hampered homeowners, especially those with higher-risk subprime mortgages. Lenders, in turn, have tightened standards ...
    2007-08-22 02:37:00

  • Schumer says Fed, Treasury must do more to help mortgage borrowers

    Forbes - ... the Federal Reserve, the Treasury Department and other federal offices today that they must do more to ensure troubled borrowers are able to pay off their mortgages once their adjustable interest rates rise, and that a destabilizing wave of mortgage ...
    2007-08-22 05:00:00

  • Business Events Scheduled for Thursday

    Forbes - WASHINGTON - Labor Department reports on weekly jobless claims, 8:30 a.m. TOKYO - Bank of Japan policy board meeting. WASHINGTON - Freddie Mac, the mortgage company, reports on mortgage rates. NEW YORK - Barnes & Noble Inc. expected to release second ...
    2007-08-22 04:53:00

  • US builder hit by mortgage woes

    BBC Business - ... said chairman and chief executive Robert Toll. The firm said it would now be reducing house production until the current oversupply was over. The crisis in the sub-prime sector has been caused by record defaults over the past year as mortgage rates ...
    2007-08-22 04:39:00

  • Homescape(R) Announces Partnership with Bankrate To Offer Mortgage ...

    Forbes - Now, in addition to over 2 million listings, we offer our users valuable information regarding mortgage rates and the financial aspects of buying a home." Homescape's Mortgage section will allow consumers to search for a home loan product that will ...
    2007-08-22 04:03:00

  • Mortgage applications fall 5.5%; rates tick up

    USA Today - NEW YORK (Reuters) — Applications for residential mortgages fell last week for the first time in three weeks, weighed down by a sharp drop in demand for both home-purchase and refinancing loans, an industry group said Wednesday. The Mortgage ...
    2007-08-22 12:43:00

  • Travidia Chosen to Power Mortgage Finder Directory Service on washingtonpost.com (Marketwire via Yahoo! Finance)

    Travidia, Inc., the leader in digital marketing services for newspapers in North America, Europe, South Africa and Eurasia, today announced that washingtonpost.com has selected Travidia's AdScripter technology to power its Mortgage Finder Directory, a special advertising database that lets users find and compare mortgage rates in the Washington, D.C. metro area submitted by advertisers.
    2007-08-22 04:35:00

  • Schumer says Fed, Treasury must do more to help mortgage borrowers (Sharewatch)

    WASHINGTON (Thomson Financial) - Senator Charles Schumer of New York warned the Federal Reserve, the Treasury Department and other federal offices today that they must do more to ensure troubled borrowers are able to pay off their mortgages once their adjustable interest rates rise, and that a destabilizing wave of mortgage defaults will follow if nothing is done.
    2007-08-22 04:56:20

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