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Million-dollar U.S. housing loans surge to record level
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Banks are handing out mortgages of as much as $10 million to the wealthy in record numbers while first-time homebuyers struggle to get loans. Erin Gorman, managing director at Bank of New York Mellon Corp., said she's fielding more requests for home loans of at least $2 million than ever before. She recently provided a mortgage of more than $6 million for a client's purchase of a second property ...
 
Million-dollar US home loans surge
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Banks are handing out mortgages of as much as $10 million to the wealthy in record numbers while first-time homebuyers struggle to get loans.Erin Gorman, managing director at Bank of New York Mellon, said she's fielding more requests...
 
Want to invest like Bill Gross? Buy mortgages
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Bond king Bill Gross has been on a bit of a buying binge, sinking more than $90 million of his own money into four of his asset management company’s funds since April in an iconoclastic bet that ultra-low interest rates are here to stay and that mortgages are a hot asset.
 
30-Year Fixed Mortgage Rates Rise Slightly; Current Rate is 4.04%, According to Zillow Mortgage Rate Ticker
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SEATTLE -- The 30-year fixed mortgage rate on Zillow(R) Mortgages is currently 4.04 percent, up seven basis points from this time last week. The 30-year fixed mortgage rate steadily rose last week, peaking ...
 
Why We Need Subprime Mortgages For A Healthy Housing Market
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The phrase "subprime mortgage" conjures up images of the shady lending practices of the early 2000s, but the reality is that subprime loans are a vital part of a healthy housing market
 
Citigroup to pay $7B in subprime mortgages probe
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WASHINGTON (AP) — Citigroup has agreed to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said "shattered lives" and contributed to the worst financial crisis in decades, the Justice Department said Monday.
 
Australian Regulators Watch as Debt Drives Up Prices: Mortgages
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Central banks from Scandinavia to the U.K. to New Zealand are sounding the alarm about soaring mortgage debt and trying to curb risky lending. In Australia, where borrowing is surging, regulators are just watching.
 
Housing Buoyed by 20-Year High for Vet’s Loans: Mortgages
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America’s fragile housing recovery is getting a boost from military buyers like Air Force Staff Sgt. Claude Hunter using VA mortgages as the U.S. draws down troops after more than a decade of combat in Iraq and Afghanistan.
 
Notes from American Capital earnings call
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Finding valuations somewhat "stretched" in 15-year mortgages, American Capital ( AGNC +0.1% ) CIO Gary Kain takes holdings of that paper down to 38% of the total portfolio as of the end of Q2, from 48% at the end of Q1. The money goes into 30-year mortgages, with that allocation rising to 57% from 46%. Webcast and presentation slides Looking ahead, management continues to see agency MBS as ...
 
Untapped demand: Islamic mortgages
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Despite Islamic mortgages being seen as an exciting and flourishing sector a decade ago demand for ‘home purchase plans’ is dampening, brokers have warned.