Mortgage and Financial News From 2007-12-19 Page 15

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  • Mortgage applications tumble, MBA says

    CNN Money - Refinance volume tumbled 27.3 percent during the week, while purchase volume fell 10.6 percent. Refinance applications accounted for 53.2 percent of total mortgage applications, down from 57.6 percent during the prior week. The index peaked at 1,856.7 ...
    2007-12-19 05:06:00

  • Yen Rises Against Dollar, Euro as Stocks Fall on Risk Aversion

    Bloomberg - The Mortgage Bankers Association said its index of applications to buy a home or refinance a loan fell 19.5 percent. The euro fell to $1.4381, near a seven-week low, from $1.4414 yesterday after ECB President Jean-Claude Trichet signaled ...
    2007-12-19 05:35:00

  • Level 3 sells part of Vyvx to DG

    BusinessWeek - DG FastChannel said it will pay for the deal using a $145 million, six-year credit facility and a two-year, $65 million bridge loan from BMO Capital Markets. The company will use some of the funds to refinance its existing $85 million senior credit ...
    2007-12-19 06:03:00

  • Overleveraged Centro Properties Says It's Still Viable

    Forbes - To refinance maturing short-term facilities and ultimately to reduce the group's gearing ratio, Centro may sell its managed funds or assets, place assets into a joint venture or raise funds through a new equity issue. As the second-largest shopping ...
    2007-12-19 06:39:00

  • Fitch Downgrades Centro NP (formerly New Plan Excel Realty Trust) to ...

    Forbes - CNP has negotiated an extension on its maturing facilities to Feb. 15, 2008; however, given the current state of the credit markets, there is a great deal of uncertainty surrounding CNP's ability to refinance this indebtedness. Centro NP bondholders ...
    2007-12-19 07:29:00

  • Your House Isn't the Cash Cow It Once Was

    Street.Com - Lenders generally won't refinance properties with such high levels of debt. We asked financial experts what homeowners should consider before borrowing from their equity in the present declining market, and what they should know about the equity ...
    2007-12-19 09:17:00

  • Rivals swoop on Centro assets

    News.com.au - Centro saw $6 billion wiped off its market value earlier this week after announcing on Monday that it had been unable to refinance $3.9 billion of maturing debt in the wake of the US credit crisis. Centro has until February 15 to renegotiate one ...
    2007-12-19 11:26:00

  • PRESS DIGEST-Australian Business News - Dec 20

    Reuters UK - Chief executive, Paul Simhauser, said the company had no need to refinance anything until 2009, but believed it could benefit by combining its asset-level debt into one package. Babcock & Brown Power shares dropped A12 cents to A$2.45 yesterday ...
    2007-12-19 12:09:00

  • UPDATE 2-Tembec refinancing gives debtholders bulk of firm

    Reuters - Last: OTTAWA, Dec 19 (Reuters) - Canadian forest-products company Tembec Inc (TBC.TO: Quote , Profile , Research ) said on Wednesday that its board is recommending a recapitalization plan that will see debtholders end up with 95 percent of the ...
    2007-12-19 10:50:00

  • Californians say mortgage freeze plan little help

    Reuters - With the market just automatically bottoming on us like this, we can't refinance," said Crawford, who commutes 70 miles each way to her transit authority job in more expensive Oakland, Calif. The plan brokered by Treasury Secretary Henry Paulson to ...
    2007-12-19 11:40:00

  • Five regional banks to set up $125 mln fund-Boston Fed

    Reuters - The Boston Fed said five banks -- Citizens Bank, Sovereign Bank, TD Banknorth, Webster Bank, and Bank of America (BAC.N: Quote , Profile , Research ) -- are announcing the fund to help some subprime loan borrowers in the region refinance their loans. ...
    2007-12-19 11:54:00

  • Ventas Prevails in Litigation

    Forbes - ... patients; (i) the results of litigation affecting the Company; (j) changes in general economic conditions and/or economic conditions in the markets in which the Company may, from time to time, compete; (k) the Company's ability to pay down, refinance ...
    2007-12-19 12:16:00

  • Foreclosure filings up 68% in November

    Chicago Tribune - But many borrowers have been unable to afford the increased payments that come with the resets, and falling housing prices have made it harder to refinance or sell. A flood of rate resets for such loans has helped drive up the number of home loan ...
    2007-12-19 12:44:00

  • Schumer says tighter rules needed for mortgage brokers (Market Watch)

    WASHINGTON (MarketWatch) -- Mortgage brokers should operate under tighter regulations and states should be allowed to use bonds to refinance subprime loans, Sen. Charles Schumer, D-N.Y., said Wednesday.
    2007-12-19 09:20:04

  • Mortgage applications tumble, MBA says (CNN Money)

    Industry trade group's weekly survey says refinance and purchase volumes also declined sharply.
    2007-12-19 04:53:23

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