Mortgage and Financial News From 2007-9-4 Page 12

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• Thornburg Mortgage continues raising cash to fend off mortgage turmoil

  CNBC - NEW YORK - Thornburg Mortgage again sought a buffer from turmoil in the mortgage market, borrowing $1.44 billion and using a pool of home loans as collateral. The loan deal was made in tandem with Thornburg's $500 million sale last week of a special ...
  2007-09-04 09:24:00

• Bush acts on home loan crisis

  Dallas Morning News - WASHINGTON – Criticizing what he called excesses in the lending industry, President Bush on Friday announced a series of measures designed to prop up, but not bail out, homeowners who are struggling to meet the rising cost of their mortgage loans ...
  2007-09-04 08:26:00

• MFA Mortgage Investments, Inc. Announces Public Offering of

  MSN MoneyCentral - These forward-looking statements are subject to various risks and uncertainties, including, but not limited to, those relating to: changes in interest rates and the market value of MFA's MBS; changes in the prepayment rates on the mortgage loans ...
  2007-09-04 05:34:00

• Mortgage servicers urged to head off foreclosures

  Reuters - Renegotiating loan terms can be tricky in the U.S. mortgage market because most home loans are securitized and sold to investors, so the originating lender has no stake in the credit. Often, the main point of contact for the borrower is the servicer ...
  2007-09-04 01:05:00

• Canadian Tire ramps up mortgage banking

  Reuters - The new account, offered by subsidiary Canadian Tire Bank, lets customers combine mortgage, checking and savings accounts, plus loans and credit card balances, into one account, so they can pay down loans, or borrow when they need cash. The ...
  2007-09-04 12:44:00

• LBOs still to finance as mortgage market struggles

  Reuters - Slumping investor demand for mortgage-backed securities also led to the biggest monthly rise ever in mortgage related loans by Federal Home Loan Bank system to its members in August. Outstanding collateralized loans to the FHLB's 8,100 member ...
  2007-09-04 01:27:00

• Federal Home Loan bank mortgage 'advances' surge

  Reuters - NEW YORK, Sept 4 (Reuters) - Mortgage-related loans by the Federal Home Loan Bank system surged 17 percent in August, the FHLB's office of finance said on Tuesday. Outstanding collateralized loans to the FHLB's 8,100 member financial institutions ...
  2007-09-04 09:16:00

• Shares of most mortgage lenders rise

  CNN Money - Shares of most mortgage lenders rise Accredited Home draws takeover offer but fights for higher price; Thornburg Mortgage closes two deals allowing it to resume financing home loans.
  2007-09-04 10:06:00

• UPDATE 2-Federal Home Loan bank mortgage 'advances' surge

  Reuters - NEW YORK, Sept 4 (Reuters) - Mortgage-related loans by the Federal Home Loan Bank system to members rocketed at an "unprecedented" rate in August as an upheaval in credit markets shut off the dominate funding sources of recent years, the FHLB's ...
  2007-09-04 12:44:00

• Bank profits down 3.4 percent in 2Q

  US News and World Report - Total past-due loans jumped by 10.6 percent, to $6.4 billion, and nearly half the increase came from home mortgage loans. In the largest jump since 1996, 824 financial institutions reported net losses for the quarter, up from 600 a year earlier ...
  2007-09-04 12:44:00

• Lender NovaStar to cut back on new loans, pulls stock offering amid ...

  International Herald Tribune - KANSAS CITY, Missouri : Mortgage lender NovaStar Financial Inc. said Tuesday it was all but eliminating sales of new loans and will lay off more than 30 percent of its work force as it deals with continued deterioration in the mortgage market. It ...
  2007-09-04 11:54:00

• News & Analysis : Banking

  Street.Com - The Santa Fe, N.M., jumbo mortgage lender said the financing is collateralized by $1.44 billion of the company's prime hybrid adjustable rate mortgage loans in the publicly registered Thornburg Mortgage Securities Trust 2007-4. The company first ...
  2007-09-04 11:40:00

• FHLB's loans to banks up 16.6 percent

  CNBC - WASHINGTON (AP) - Low-cost lending to financial institutions by the Federal Home Loan Bank system jumped 16.6 percent in August, the system's finance arm said Tuesday, As the upheaval in the mortgage market worsened last month and the Federal Reserve ...
  2007-09-04 12:01:00

• Despite nationwide credit crunch, local credit unions not cutting back on loans (Elizabethton Star)

  In spite of a mortgage loan crunch nationwide, credit unions in Elizabethton are not cutting back on mortgage loans. "We are growing," said Kathy Campbell, President and CEO of Northeast Community Credit Union. "Our mortgage loans have grown about 11 percent so far this year.
  2007-09-04 10:16:12

• Thornburg Mortgage battles mortgage turmoil (KOB-TV Albuquerque)

  NEW YORK (AP) – Thornburg Mortgage has again sought a buffer from turmoil in the mortgage market. The Santa Fe-based mortgage lender is borrowing $1.44 billion and using a pool of home loans as collateral.
  2007-09-04 09:49:59

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