Mortgage and Financial News From 2008-2-16 Page 11

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• Merchants of Misery: Debt collection is one of the UK's fastest-growing industries (Independent)

  Debt collection agencies and bailiffs are raking in unprecedented sums from Britain's growing mountain of personal finance misery, an Independent on Sunday investigation has found. Last year the agencies and bailiffs pursued no fewer than 20 million cases and the methods they used to squeeze money from people are so aggressive that experts ranging from the Citizens' Advice Bureau (CAB) to ...
  2008-02-16 04:05:24

• Sale and rent back: Who will protect the needy who've sold up for a song? (Independent)

  As money gets tighter for Britons, so mortgage repayments can quickly become unmanageable, leading homeowners to take desperate measures to avoid repossession. With so much at stake, "sale and rent back" schemes can start to look attractive.
  2008-02-16 04:12:56

• The debt advice that adds to the problem (Independent)

  Figures from the Council of Mortgage Lenders show that about 130,000 people in the UK are three months or more behind with their mortgage repayments.
  2008-02-16 04:13:26

• NY regulators eager to consider FGIC proposal to separate its muni ...

  CNBC - State Insurance Superintendent Eric Dinallo, who has spoken sympathetically about FGIC's need for a split of its municipal insurance business, said he hopes that won't happen to other mortgage insurers. He said talks are going well with the other bond ...
  2008-02-15 02:20:00

• Insurance Securities Market Is Next To Face Big Credit Test

  Free Internet Press - The market for default insurance, like the subprime mortgage securities market, is a product of good economic times and has boomed in recent years. In 2000, $900 billion of credit insurance contracts changed hands. Since then, the face value of ...
  2008-02-16 01:00:00

• A Split-Up of Insurers of Bonds Is Considered

  New York Times - Regulators and bankers racing to bolster troubled bond insurance companies are considering splitting the firms into two parts: one for safe municipal debt and the other for riskier mortgage-related securities. Proponents of the idea say such a step ...
  2008-02-16 08:28:00

• MGIC Swings to $1.5B Loss in 4Q

  Baltimore Sun - Home buyers typically must get mortgage insurance when they put down less than 20 percent of their home's value. When they miss payments, the insurers pay lenders. If homes end up in foreclosure, both lenders and insurers lose money. Stuart Plesser ...
  2008-02-12 03:57:00

• You can bet your life this policy will end in tears

  The Independent - There are too many echoes of what has happened in the mortgage market to ignore, and insurance industry players, finance experts and politicians are among those with a queasy, uneasy feeling that we might be watching the beginnings of something bad ...
  2008-02-16 03:59:00

• Why we’ll all pay for the tax-free life of UK’s super-rich - Sunday Herald

  Why we’ll all pay for the tax-free life of UK’s super-richSunday Herald, UK - 5 hours agoYou pay your mortgage out of your net income; they use buy-to-let and deduct mortgage interest from their tax. No wonder you can't afford a house. ...
  2008-02-16 01:01:42

• Ailing Experian to sell Pricegrabber website - Times Online

  Ailing Experian to sell Pricegrabber websiteTimes Online, UK - 5 hours agoThe value of websites that help consumers find cheaper utility suppliers and insurance has also tumbled. EW Scripps, the American media company, ...
  2008-02-16 01:26:29

• SA is ‘under-insured by R10-trillion’ - The Times

  SA is ‘under-insured by R10-trillion’The Times, South Africa - 5 hours agoSabir Sheikh, life insurance adviser for mortgage broker BondBusters.co.za, said when most people were struggling to pay their debts, often the first thing ...
  2008-02-16 01:33:40

• US stocks mixed after downbeat economic news - Channel News Asia

  US stocks mixed after downbeat economic newsChannel News Asia, Singapore - 5 hours ago... through the financial markets and causing difficulties for big bond insurance firms that insured securities linked to complex mortgage investments. ...
  2008-02-16 01:55:45

• Maguire Properties’ Orange County Buildings 72% Full - Orange County Business Journal

  Maguire Properties’ Orange County Buildings 72% FullOrange County Business Journal, CA - 4 hours agoThe two buildings are set to be joined at the campus in a few months by the opening of Pacific Life Insurance Co.’s nine-story tower that runs alongside the ...
  2008-02-16 02:25:14

• Teresa Hunter: Mixed messages and our trillion pound pensions bill - Scotsman

  Teresa Hunter: Mixed messages and our trillion pound pensions billScotsman, United Kingdom - 2 hours agoYet the life insurance industry says because we won't ditch bacon butties we are all getting fatter and dying younger. Which is it? ...
  2008-02-16 04:03:48

• Insurance Securities Market Is Next To Face Big Credit Test - Free Internet Press

  Insurance Securities Market Is Next To Face Big Credit TestFree Internet Press, NY - 1 hour agoThe market for default insurance, like the subprime mortgage securities market, is a product of good economic times and has boomed in recent years. ...
  2008-02-16 04:57:28

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