Firm’s mortgage insurance business posts first profit in three years
Insurance giant American International Group Inc. said Friday it swung to a first-quarter profit as pre-tax earnings in its core operations more than doubled, and its mortgage-insurance arm posted its first growth in three years.
For the recent period, the New York firm /quotes/comstock/13*!aig/quotes/nls/aig (AIG 35.80, -0.96, [...]
Posts Tagged ‘news’
AIG swings to a first-quarter profit
May 7th, 2010 by Mortgage Writer
Tags: bank of america, business, economic recovery, economy, federal reserve, financial, mortgage, Mortgage Bankers, news, US Economy
more...Mortgage Fraud Rises For Fifth Consecutive Year
April 27th, 2010 by Mortgage Writer
Mortgage fraud increased in the U.S. for the fifth consecutive year, according to the Appraisal Institute. The institute, an organization of 25,000 real estate appraisers, reported a 7% increase in fraud reports from 2008 to 2009. The increase was sizable but much smaller than the 20%-plus jumps the market saw each year from 2005 to [...]
Tags: banks, financial, mortgage, mortgage rates, mortgages, news, US Economy
U.K. Bankers Shunned by Mortgage Lenders Turn to Private Banks
April 23rd, 2010 by Mortgage Writer
April 23 (Bloomberg) — Employees in London’s financial services industry are turning to private banks for luxury home loans as the biggest mortgage lenders are deterred by limits on cash bonuses.
Lending by private banks climbed by as much as 40 percent in the past year, according to Private Finance, a London-based broker that arranges mortgages [...]
Tags: financial, investors, mortgage, Mortgage Bankers, Mortgage Bankers Association, mortgage lenders, news
Geithner says parts of US economy “very strong”
April 22nd, 2010 by Mortgage Writer
Geithner cites “encouraging signs” on US economy. He says confident financial reform legislation will pass (Adds comments on legislation, context).
WASHINGTON, April 22 (Reuters) - U.S. Treasury Secretary Timothy Geithner says some parts of the U.S. economy are “very strong” and that the United States was rebounding from recession more quickly than most other major economies.
Geithner, [...]
Tags: business, economy, federal reserve, news, Obama, powerhouse, Treasury Department, treasurys, US Economy, wall street
Use Low Rate Mortgage to Maximize Home Purchase, Says Informa Research Services
April 20th, 2010 by Mortgage Writer
According to recent reports, mortgage rates have fallen for the first time in over a month. After jumping significantly a few weeks ago, they have now retreated back to record low levels, which could benefit first time home buyers and others who are in the market to purchase. Informa Research Services, a subsidiary of Informa [...]
Tags: home buyers, homeowners, mortgage, mortgage rates, news, Obama, real estate, US Economy
U.S. 30-year mortgage rates jump to 8-month high
April 8th, 2010 by Mortgage Writer
Rising bond yields sent U.S. 30-year mortgage rates to the highest level in eight months, home funding company Freddie Mac said on Thursday.
The 30-year loan rate average jumped to 5.21 percent in the week ended April 8 from 5.08 percent in the prior week and from 4.87 percent a year earlier.
The last time the long-term [...]
Tags: economy, federal reserve, mortgage, mortgage rates, news, US Economy
Greenspan Sees Economy and Job Growth Gaining Momentum
April 5th, 2010 by Mortgage Writer
Former Federal Reserve Chairman Alan Greenspan said Sunday that apart from the housing and commercial real estate markets, the economy is “showing some buoyancy,” and he expects the pace of job creation to pick up.
Greenspan said a number of factors are contributing to economic and employment momentum, including consumer spending and corporate capital investment. “The [...]
Tags: economy, economy recovered, jobs, money, news, US Economy
Mortgage rates fall for second straight week
January 26th, 2010 by Mortgage Writer
Rates for 30-year home loans edged lower for the second straight week, a report said Thursday, but remained above last month’s record lows.
The average rate on a 30-year fixed mortgage was 5.06 percent this week, down from 5.09 percent a week earlier, mortgage company Freddie Mac said.
Rates dropped to a record low of 4.71 percent [...]
Tags: Freddie Mac, mortgage, mortgage rates, mortgages, news
FHA raises fees, tightens loan standards
January 26th, 2010 by Mortgage Writer
The Federal Housing Administration is raising fees and tightening lending standards to shore up its strapped finances and avoid a taxpayer bailout.
The government agency has seen its losses rise with the foreclosure rate. Its reserves have sunk below the minimum level required by Congress. A healthy FHA is vital for the housing market because it [...]
Tags: borrowers, mortgage, news
Recession ‘worse than estimated’
November 30th, 2009 by Mortgage Writer
Chancellor Alistair Darling will say in his pre-Budget report that the economy performed worse in 2009 than he first predicted, Treasury sources have said.
Mr Darling is expected to say that the UK economy shrank by 4.75% this year - more than the 3.5% originally forecast in the Budget in March.
The adjustment follows the economy’s unexpectedly [...]
Tags: news, Office for National Statistics, treasury
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