Mortgage and Financial News From 2008-4-8 Page 4
Previous Day: 2008-04-07
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Radian Group: considering range of options after S&P downgrade to 'BBB' (Sharewatch)
SAN FRANCISCO (Thomson Financial) - Following the company's downgrade by Standard & Poor's, Radian Group Inc. late Tuesday said it is in talks with the government sponsored enterprises and banks and is considering a range of options, including a possible public offering of its stock as well as capital infusions from outside parties.
2008-04-08 03:42:42 -
(AFX UK Focus) 2008-04-08 23:15 GMT: PMI Group: claims paying resources unaffected by S&P downgrade (Interactive Investor)
SAN FRANCISCO (Thomson Financial) - PMI Group Inc. said late Tuesday its claims paying resources are unaffected by Standard & Poor's downgrade of the company's ratings.
2008-04-08 03:48:27 -
Freddie Mac Requires Remediation Plan From PMI Mortgage Insurance Co. After Ratings Downgrade (PR Newswire via Yahoo! Finance)
PMI Mortgage Insurance Co. , a Freddie Mac-approved mortgage insurer, has notified Freddie Mac that it was downgraded by Standard & Poor's from AA to A+.
2008-04-08 03:49:00 -
Tips for last-minute tax filers (WAVY 10)
"Maybe people haven't gotten their documents together, maybe they've been busy, waiting until the last minute. But, we seem to be getting a lot more phone calls late this year."
2008-04-08 03:50:29 -
S&P Cuts Ratings on 4 Mortgage Insurers (AP via Yahoo! Finance)
Standard & Poor's Ratings Services late Tuesday slashed its credit ratings on four mortgage insurers because of concerns that rising unemployment and falling home prices could lead to more defaults and drag down the companies' earnings.
2008-04-08 03:54:06 -
MGIC Comments on Standard & Poor's Rating Action (PR Newswire via Yahoo! Finance)
MGIC Investment Corporation has been notified by Standard and Poor's that it has lowered the insurer financial strength rating of the company's principal subsidiary, Mortgage Guaranty Insurance Corporation , from AA- to A with a negative outlook.
2008-04-08 03:55:00 -
Murky future in House for Senate housing fix (CNNMoney.com via Yahoo! Finance)
The Senate is poised to pass a $15 billion package of housing measures intended to stabilize the housing market.
2008-04-08 01:55:00 -
Fed Officials Saw Contraction in Economy `Likely' (Update4) (Bloomberg.com)
April 8 (Bloomberg) -- Federal Reserve officials anticipated that the economy would shrink in the first half of the year, with some concerned about ``a prolonged and severe economic downturn.''
2008-04-08 01:57:47 -
(AFX UK Focus) 2008-04-08 21:48 GMT: Industry groups make push on housing (Interactive Investor)
WASHINGTON (AP) - Even supporters acknowledge that the Senate's housing bill is a partial fix for growing problems in the residential real estate market.
2008-04-08 02:01:01 -
Financial losses may swell to $945 bn: IMF (Express India)
The International Monetary Fund said financial losses stemming from the US mortgage crisis may approach $1 trillion, citing a "collective failure" to predict the breadth of the crisis.
2008-04-08 02:03:15 -
No deposit ... no mortgage (The New Zealand Herald)
Home buyers with no deposit wanting 100 per cent finance will now find it extremely difficult, if not impossible, to get a mortgage.
2008-04-08 02:04:16 -
Fitch Downgrades $4.9B in Mortgage Bonds (AP via Yahoo! Finance)
Fitch Ratings slashed its rating on at least $4.9 billion in mortgage bonds on Tuesday because the ratings agency assumes more home loans will not be repaid.
2008-04-08 02:05:14 -
Scotland has yet to feel the crunch (The Herald)
Like many homeowners living with the words "credit crunch" ringing in their ears, Jeremy Jones was more than a little nervous about putting his flat up for sale.
2008-04-08 02:06:23 -
Who let the dogs out? (Express India)
Credit rating agencies failed with their due diligence. Remember the age-old proverb, "One bad apple spoils the barrel"? Even if there was a single subprime borrower, the entire security should have been rated as non-investment grade
2008-04-08 02:10:29 -
U.S. Stocks Fall on Profit Concern; Washington Mutual, AMD Drop (Bloomberg.com)
April 8 (Bloomberg) -- U.S. stocks fell the most in seven days after the first signs of quarterly earnings disappointed investors, Washington Mutual Inc. slashed its dividend and some Federal Reserve officials warned of a prolonged recession.
2008-04-08 02:12:54