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11/13/2008 News For:

ginniemae Mortgage

US shifts rescue away from buying toxic mortgage assets   US authorities shifted the focus of a massive financial rescue plan, scrapping plans to buy up toxic mortgage assets and calling for help in restoring credit outside the banking sector.

Many mortgage indictments seen under Obama  WASHINGTON Reuters - Federal criminal probes into mortgage lending will likely produce many indictments under Barack Obama's presidency, legal experts said on Wednesday.

U.S. to simplify mortgage disclosure rules  Prospective home buyers would get a simpler way to understand often-confusing mortgage terms under new rules by the federal government.

US shifts rescue away from buying toxic mortgage assets   US authorities Wednesday shifted the focus of a massive financial rescue plan, scrapping plans to buy up toxic mortgage assets and calling for help in restoring credit outside the banking sector.

Rep Frank targets mortgage service legal pacts   Congress needs to tackle legal obstacles that prevent mortgage servicing companies from doing more to help distressed borrowers stay in their homes, the head of a U.S. congressional committee said on Wednesday.

Mortgage Situation 'Requires Legislation,' Frank Says   House Financial Services Chairman Barney Frank said Wednesday that Congress should take up legislation to make it easier to renegotiate troubled mortgages, citing what he called a lack of cooperation from mortgage servicers.

Irish mortgage lender writes off Iceland losses   Ireland's major mortgage provider, Irish Life & Permanent PLC, slashed its profit forecast Wednesday chiefly because of lost investments in the nationalized banks of Iceland.

Rep. Frank targets mortgage servicer legal pacts   Legislation is needed to address mortgage servicing companies' failure to do enough to help distressed borrowers stay in their homes, the head of a key U.S. congressional committee said on Wednesday.

Rep Frank: mortgage servicer legislation needed   The chairman of a key U.S. congressional committee said on Wednesday that legislation is needed to address mortgage servicing companies' failure to modify more distressed mortgages and reduce foreclosures.

Shares of mortgage originator PHH climb   Shares of PHH Corp. rose Wednesday after a Keefe, Bruyette & Woods analyst said the mortgage originator's liquidity remains strong, and concerns to the contrary are unwarranted.