Mortgage and Financial News From 2007-9-4 Page 2

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  • Bank governor plans to eliminate loan interest (Financial Times)

    Iran's new central bank governor, appointed yesterday, says he has a plan to eliminate interest rates on loans, in order to encourage "real and genuine" banking services - a move that left bankers fearful about greater government interference.
    2007-09-04 06:41:53

  • Bank set to leave interest rates on hold (Reuters via Yahoo! UK & Ireland News)

    Interest rates are certainly not going up this month, say economists, and after five hikes since August 2006, they may not climb any further this year.
    2007-09-04 08:13:00

  • 2nd Circuit: Lender Bear Stearns Not Required to Provide Notice of ...

    Law.com - ... its doors in 1999, National Finance originated and resold mortgages and home ... In August 1999, the mortgage company's misappropriations -- which by that point ... by Bear Stearns "was indeed substantial but no more than was needed for a lender ...
    2007-09-04 07:32:00

  • Quality Home Loans Sells 100% Stake to Hedge Fund Manager ...

    Forbes - AGOURA HILLS, Calif., Sept. 4 /PRNewswire/ -- Quality Home Loans (Quality), the country's leading residential hard money lender, announced that it has agreed ... it to capitalize on its position as the market leader in the hard money residential mortgage ...
    2007-09-04 03:00:00

  • President Bush's proposal targets an obscure tax

    Newark Star-Ledger - How can I possibly owe tax when I'm making no profit and losing all the equity in my home?When you took out your mortgage, the lender gave you money, but you weren't taxed on it because an offsetting obligation -- your debt -- was created at the same ...
    2007-09-04 09:41:00

  • Large Sub-Prime Lender Closes

    WPVI - Ameriquest was once the nation's largest sub-prime lender. Also on the mortgage front the Federal Reserve is urging loan companies to work with borrowers in danger of defaulting on their home mortgages. The feds want companies to modify loan terms ...
    2007-09-04 03:36:00

  • Accredited Home Lenders slashes jobs, stops making loans San Diego

    Worldnews.com - San Diego's Accredited Home Lenders said Wednesday it would slash 1,600 jobs nationwide and stop making new mortgage loans as it struggles to survive the meltdown in the subprime mortgage market . From today's U-T The lender, which specializes in ...
    2007-09-04 07:03:00

  • American Home Mortgage gets final approval for $50M bankruptcy loan

    CNBC - As the Chapter 11 lender, Ross will be one of the first to be paid off from American Home's sale of its remaining operations in bankruptcy. Bank of America, as agent for the failed mortgage company's senior secured bank lenders, will also be at the ...
    2007-09-04 03:07:00

  • Accredited Home to pay 61-cent dividend on preferred shares of REIT ...

    CNBC - SAN DIEGO - Subprime mortgage lender Accredited Home Lenders Holding Co. said Tuesday it declared a quarterly cash dividend of about 61 cents per share for preferred shares of subsidiary Accredited Mortgage Loan REIT Trust. The dividend will be paid ...
    2007-09-04 07:50:00

  • Bankrupt Quality Home Loans says finds buyer

    Reuters - NEW YORK, Sept 4 (Reuters) - Quality Home Loans, a subprime mortgage lender that filed for Chapter 11 bankruptcy protection two weeks ago, said on Tuesday it agreed to be acquired by hedge fund manager Michael Klein for an undisclosed price. Klein is ...
    2007-09-04 03:29:00

  • American Home Gets Final OK on $50M Loan (AP via Yahoo! Finance)

    American Home Mortgage Investment Corp. won final court approval Tuesday to borrow $50 million to finance its Chapter 11 bankruptcy liquidation.
    2007-09-04 03:01:00

  • NovaStar Auditor Raises Doubt About Lender's Survival (Update2) (Bloomberg.com)

    Sept. 4 (Bloomberg) -- NovaStar Financial Inc., the home lender trying to outlast the subprime shakeout by conserving cash, abandoned plans to raise $101.2 million after its auditor said the company may not survive. The shares fell 18 percent.
    2007-09-04 10:03:43

  • NovaStar Auditor Raises Doubt About Lender's Survival (Update1) (Bloomberg.com)

    Sept. 4 (Bloomberg) -- NovaStar Financial Inc. canceled a rights offering designed to raise $101.2 million for the subprime mortgage lender and said its auditor expressed doubt about the company's survival. The shares fell as much as 18 percent.
    2007-09-04 08:04:03

  • NovaStar Auditor Raises Doubt About Lender's Survival (Update5) (Bloomberg.com)

    Sept. 4 (Bloomberg) -- NovaStar Financial Inc., the home lender trying to outlast an industry shakeout by conserving cash, abandoned plans to raise more than $100 million after its auditor said the company may not survive. The shares fell 16 percent.
    2007-09-04 01:49:03

  • Housing slump hits mortgage firms, realtors (Reuters via Yahoo! News)

    New fallout from the U.S. housing slump hit mortgage and real estate companies on Tuesday as subprime lender NovaStar Financial Inc and title insurer First American Corp announced job cuts and NovaStar's auditor expressed doubt the company will survive.
    2007-09-04 12:44:16

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