Mortgage and Financial News From 2008-1-3 Page 32

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• Stoner to lead Regions commercial real estate division (bizjournals.com via Yahoo! Finance)

  The former head of LaSalle Bank's local office, Sandy Stoner, has joined Regions Financial Corp. to lead its commercial real estate division for the St. Louis area, Regions announced Thursday.
  2008-01-03 01:08:52

• IRS Rules on Taxpayer Privacy (AP via Yahoo! Finance)

  Tax preparers will have to make the fine print a little less fine and obtain customer consent for offshore work under new Internal Revenue Service rules aimed at giving taxpayers more control over their private information.
  2008-01-03 01:17:13

• Head of State Street Unit Steps Down (NYTimes.com via Yahoo! Finance)

  State Street set aside $618 million to cover costs associated with its investment unit, which has been hurt by exposure to subprime mortgages, and replaced the head of the unit, William Hunt. .
  2008-01-03 01:39:18

• Australia's NAB to raise variable home loan rate

  Reuters - The increase is in response to the rising wholesale borrowing costs faced by lenders as a fallout from U.S. subprime mortgage crisis. "We have been absorbing the sustained increase in global funding costs for about five months now. This change is ...
  2008-01-03 01:02:00

• Bush on housing: Congress should do more

  CNN Money - Borrowers with FHA-insured loans - which they get from private lenders as they would any other mortgage - pay a small premium to the FHA every month. The FHA, in turn, uses those premiums to cover the lender in the event of foreclosure and requires ...
  2008-01-03 10:53:00

• Lake County mortgage foreclosures continue to soar

  Orlando Sentinel - After a brief, holiday lull, mortgage companies and other lenders resumed their efforts to seize Lake County properties from delinquent borrowers with renewed zeal. More than two dozen mortgage-foreclosures were filed Tuesday, the first day of ...
  2008-01-03 12:12:00

• Bankruptcy filings soar in 2007

  CNBC - Democrats say legislation allowing judges to do so could help more than 500,000 homeowners avoid foreclosure, while Republicans and the mortgage industry say expanding this power would make lenders far more reluctant to extend home loans. Copyright ...
  2008-01-03 11:51:00

• Wolters Kluwer Financial Services Acquires the Assets of Stewart ...

  Forbes - Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit http://www.WoltersKluwerFS.com. Wolters ...
  2008-01-03 12:19:00

• Banks may announce more job cuts

  CNN Money - And even after waves of job cuts among the mortgage lenders and investment firms gambling on high-risk debt, Challenger expects the sector to continue to suffer. "Job cuts in the financial sector declined in November and December, but major job-cut ...
  2008-01-03 09:49:00

• Assembly leaders propose $180M subprime relief package

  MSN MoneyCentral - The grants would be reserved for those homeowners who are actively engaged with lenders or loan servicers in developing work-out arrangements or modifying the mortgage. Lenders also would be required to participate in alleviating the debt. The bill ...
  2008-01-03 11:15:00

• Assembly leaders propose $180M subprime relief package - Bizjournals.com

  Assembly leaders propose $180M subprime relief packageBizjournals.com, NC - 2 hours ago... or loan servicers in developing work-out arrangements or modifying the mortgage. Lenders also would be required to participate in alleviating the debt. ...
  2008-01-03 11:11:04

• Bush on housing: Congress should do more - CNNMoney.com

  Bush on housing: Congress should do moreCNNMoney.com - 2 hours agoBorrowers with FHA-insured loans - which they get from private lenders as they would any other mortgage - pay a small premium to the FHA every month. ...
  2008-01-03 11:12:25

• Can Iowa caucuses help reverse the Bush legacy? - BloggingStocks

  Can Iowa caucuses help reverse the Bush legacy?BloggingStocks - 1 hour agoAnd his drive to increase home ownership -- supported by subprime mortgage lenders like Ameriquest -- has contributed to tens of billions of write-downs by ...
  2008-01-03 11:28:12

• Good times ahead for savers - EveryInvestor

  Good times ahead for saversEveryInvestor, UK - 1 hour agoWe’ve already seen lenders withdraw two-thirds of the mortgage offers they had available to less creditworthy borrowers six months ago. ...
  2008-01-03 11:41:57

• Acceleration clause - kjrh.com

  Acceleration clausekjrh.com, OK - 1 hour agoWhen you take out a mortgage to purchase a home, as the borrower, you agree to make regular monthly payments to the lender. If you don't make those payments ...
  2008-01-03 11:57:39

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