Mortgage and Financial News From 2007-12-18 Page 11

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  • Fed endorses home mortgage protections (AP via Yahoo! News)

    The Federal Reserve moved Tuesday to protect home buyers from dubious lending practices, its most sweeping response to a mortgage meltdown that has forced record numbers of people from their homes.
    2007-12-18 02:44:34

  • Fed plans revamp of mortgage rules (FT.com via Yahoo! News)

    The Federal Reserve on Tuesday announced an extensive shake-up of US mortgage regulation that it hopes will reduce abuses and pave the way for a revival in the subprime lending industry.
    2007-12-18 01:15:11

  • The PMI Group, Inc. Applauds Congressional Action to Extend Tax Deductibility for Mortgage Insurance Premiums (PR Newswire via Yahoo! Finance)

    The PMI Group, Inc. applauds Congress for passage of new legislation extending a tax provision that enables low- to moderate-income homebuyers to deduct the cost of mortgage insurance premiums from their federal income tax returns until 2010.
    2007-12-18 03:00:00

  • Congress Takes Important Step to Address Housing Crisis; Votes to Extend Mortgage Insurance Tax Deductibility for New ... (PR Newswire via Yahoo! News)

    WASHINGTON, Dec. 18 /PRNewswire-USNewswire/ -- The U.S. House of Representatives today voted to help many troubled homeowners and potential homebuyers looking for an affordable mortgage, making mortgage insurance premiums tax deductible for all mortgages originated for the next three years. The Senate passed this legislation last week by unanimous consent. Mortgage insurance first became tax ...
    2007-12-18 02:42:00

  • Fed staff proposes new mortgage protections

    Reuters - WASHINGTON (Reuters) - U.S. lenders would have to determine that a borrower can afford a mortgage before making the loan under a Federal Reserve staff proposal on new regulations released on Tuesday. The proposed rules, which will be considered later ...
    2007-12-18 07:38:00

  • Fed proposes new mortgage protections

    Reuters - WASHINGTON (Reuters) - The Federal Reserve Board on Tuesday proposed new protections for high-cost mortgage borrowers to avoid a repeat of the loose lending standards that have put many Americans at risk of losing their homes. U.S. lenders would have ...
    2007-12-18 11:20:00

  • Stocks muster gains

    CNN Money - Elsewhere on the housing front, the Federal Reserve proposed a much stricter set of rules for mortgage lenders as part of the central bank's effort to combat shady lending practices. Stocks had slumped Monday and the previous week on worries about the ...
    2007-12-18 01:50:00

  • Home Buyers to Get New Protections Under Fed Plan

    CNBC - Consumers would get a host of new protections from unscrupulous or abusive mortgage lenders under a set of consumer-protection rules the Federal Reserve is considering today. CNBC.com will air a tape-delayed version of the rare open hearing at about ...
    2007-12-18 07:02:00

  • Fed Meeting: Why This "Insider" Left A Little Hungry

    CNBC - The new proposals offered today to change the current HOEPA (Home Ownership and Equity Protection Act) regulations that govern mortgage lenders are lengthy and complicated and not at all unexpected given what we’ve heard from previous Fed hearings ...
    2007-12-18 10:37:00

  • Thornburg Mortgage to Pay a Dividend, Replaces CEO (Update2)

    Bloomberg - Larry has been the driving force behind Thornburg Mortgage's evolution into one of the nation's premier residential mortgage lenders,'' Garret Thornburg said in a separate statement. Thornburg halted its dividend in October after ...
    2007-12-18 06:40:00

  • Fed unveils plan to curb shady lending

    MSNBC - Fed policymakers also are considering requiring financial disclosures to borrowers early enough to use while shopping for a mortgage. Lenders could not charge fees — except for a fee to obtain a credit report — until after the consumer receives ...
    2007-12-18 01:28:00

  • EU push for more mortgages

    Boston Globe - BRUSSELS, Belgium— Europeans would save money if they could pick mortgage providers from other countries -- but European Union nations must also make it easier for lenders to repossess homes, the European Commission said Tuesday. Home buyers would ...
    2007-12-18 10:15:00

  • US Fed proposes changes to mortgage lending rules

    Reuters - The Fed's Board of Governors voted 5-0 to issue the rules that would apply to all mortgage lenders, including those not regulated by the U.S. central bank. The public will be allowed 90 days to comment on the proposed changes to the rules ...
    2007-12-18 11:05:00

  • Fed Plans to Tighten U.S. Mortgage Rules After Crisis (Update5)

    Bloomberg - Bernanke is aiming to preserve the Fed's consumer- protection role after Democratic lawmakers blamed it for lax oversight and introduced legislation to set rules for mortgage lenders. Today's proposals received mixed responses from legislators ...
    2007-12-18 11:34:00

  • Fed plans revamp of mortgage rules

    Financial Times - Most of the rules create obligations for mortgage lenders rather than the brokers, as these larger institutions have a greater incentive to play by the rules. Top officials believe that investors are so distrustful of subprime mortgage securities ...
    2007-12-18 01:07:00

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