Mortgage and Financial News From 2007-10-26 Page 9

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  • Lenders May Go for a Piece of the Future (Washington Post)

    When a mortgage borrower can't make payments, the servicing agent should help the owner of the mortgage resolve the problem in the way that is least costly to the owner. The usual method is foreclosure, but an alternative is to modify the loan contract to make the payment more affordable.
    2007-10-26 01:56:10

  • Mortgage industry pushes for e-mortgages (The Plainfield Sun)

    The dream of today's mortgage lenders and brokers: paperless e-mortgages. The Internet and the digital era have opened the door to almost everything else - why not replace those piles of mortgage paper documents with a fast and easy paperless digital system? It could save a lot of time, money and frustration. But there are formidable problems in its development.
    2007-10-26 02:00:50

  • Mortgage woes propel Calif. foreclosures to record (Washington Post)

    SAN FRANCISCO (Reuters) - Mortgage lenders launched more than 70,000 foreclosure proceedings in California in the third quarter, marking a record for the state, where many housing markets are slumping amid mortgage market turmoil, according to a report released on Friday.
    2007-10-26 12:42:18

  • Countrywide's premarket surge lifts shares of other mortgage lenders (Sharewatch)

    NEW YORK (Thomson Financial) - Mortgage lenders are getting a lift in premarket trading Friday, after Countrywide Financial Corp. said it expected to return to profitability in the fourth quarter.
    2007-10-26 06:16:42

  • With inflation monster tame, Fed can manage risk

    Reuters - CHICAGO (Reuters) - With inflation pressures relatively tame for now, the Federal Reserve appears to have a wide-open window to pursue a "risk management" interest rate policy that insures against a steep economic downturn created by the housing ...
    2007-10-26 12:54:00

  • Euroshares close higher, logging weekly gain on solid results, rate ...

    CNBC - LONDON (Thomson Financial) - Europe's leading exchanges ended higher, wrapping up a positive week for the markets, helped by a number of positive earnings reports and growing expectations the US Federal Reserve will cut interest rates next week. The ...
    2007-10-26 08:58:00

  • GLOBAL MARKETS-Stocks rally, dollar slips, oil near high

    Reuters - NEW YORK, Oct 26 (Reuters) - The prospect of a U.S. interest rate cut next week to spur a slowing economy lifted world stock markets on Friday, dragged the dollar to record lows, and put some downward pressure on U.S. Treasury prices. U.S. stocks ...
    2007-10-26 12:11:00

  • Mexico Central Bank Unexpectedly Raises Rate to 7.50 Percent

    Bloomberg - Oct. 26 (Bloomberg) -- Mexico's central bank unexpectedly raised its benchmark interest rate by a quarter percentage point after a report showed core inflation quickened more than expected. The five-member board lifted the benchmark rate to 7.50 ...
    2007-10-26 07:25:00

  • Toronto stocks shoot up on U.S. rate cut hopes

    Reuters - TORONTO, Oct 26 (Reuters) - The Toronto Stock Exchange's main index rose on Friday, with all sectors except energy climbing on expectations of a U.S. interest rate cut, while metal prices boosted materials stocks. The S&P/TSX composite index
    2007-10-26 10:02:00

  • Colombian Central Bank Keeps Key Rate at 9.25 Percent (Update1)

    Bloomberg - Colombia's peso has gained almost 7 percent since the Fed lowered the benchmark U.S. interest rate a half-percentage point to 4.75 percent on Sept. 18. Colombia's overnight lending rate is almost double the U.S. rate. The peso rose 0.8 ...
    2007-10-26 12:04:00

  • Mexico's Peso Gains to Three-Month High After Bank Raises Rate

    Bloomberg - The Bank of Mexico's unexpected decision to increase the benchmark interest rate a quarter-percentage point to 7.5 percent fueled the biggest one-day increase in the currency since the U.S. Federal Reserve cut borrowing costs in September. Mexican ...
    2007-10-26 12:32:00

  • US RATE FUTURES-Pare losses after weak U Mich

    Reuters - CHICAGO, Oct 26 (Reuters) - U.S. short-term interest rate futures remained lower on Friday but trimmed their earlier losses after a key survey of consumer sentiment for October was weaker than expected. Futures fully price a one-quarter percent ease ...
    2007-10-26 10:16:00

  • UPDATE 1-Toronto stocks rise on metals, U.S. rate-cut view

    Reuters - TORONTO, Oct 26 (Reuters) - The Toronto Stock Exchange's main index charged higher on Friday morning, lifted by expectations of a U.S. interest rate cut and broadly bullish commodity prices. The benchmark index was powered primarily by financial ...
    2007-10-26 11:14:00

  • US stock market soars on rate-cut hopes

    News.com.au - WALL Street shares posted strong gains today as investors appeared to brush off record high oil prices in favour of upbeat earnings news and mounting hopes of a central bank interest rate cut. The Dow Jones Industrial Average finished up a robust 134 ...
    2007-10-26 02:20:00

  • TREASURIES-Bonds steady, rate-cut hopes offset stock rally

    Reuters - NEW YORK, Oct 26 (Reuters) - U.S. Treasuries were narrowly mixed in choppy trading on Friday, as expectations the Federal Reserve would cut interest rates next week offset a stock rally that cooled safe-haven demand for low-risk bonds. Investors ...
    2007-10-26 12:32:00

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