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Banking News

Indian boxers confident for Commonwealth Boxing Championship
Indian pugilists are confident of a title-winning show at the fifth Commonwealth Boxing Championship, to be organized at the Talkatora Stadium in national capital New Delhi from Friday....
New Delhi hosts first invitational archery contest before Commonwealth Games
The second day of the first invitational archery contest saw lively marksmanship by participants at the newly set up Yamuna Sports Complex in New Delhi on Wednesday....
60-year-old woman helps nab burglars
A 60-year-old woman who helped police nab burglars at her home in New Zealand said that she was furious like a mother angry at her child on seeing the thieves, a media report said....
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Financial News

The World's Billionaires
Carlos Slim Helu takes the No. 1 spot on Forbes' annual list of the world's richest as a record 164 billionaires return to the ranking amid the global economic recovery....
Bill Gates No Longer World's Richest Man
Carlos Slim Helu takes No. 1 spot on Forbes World's Billionaires list as a record 164 10-figure titans return to the ranking amid the global economic recovery....
The Richest People In America
America's richest get poorer for the fifth time in 27 years....
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Mortgage Rates News

Small Cut in LTV Could Have Big Impact on FHA
The commissioner of the Federal Housing Administration gave testimony before the House Financial Services Subcommittee on Housing and Community Opportunity.

The commissioner highlighted suggestions by some to raise the minimum downpayment on all FHA loans to 5 percent.

"Such a policy change would reduce the volume of loans endorsed by FHA by more than 40 percent," he said....
FHA Testimony Addresses LTVs, Suspensions
In testimony before the U.S. House of Representatives, the Mortgage Bankers Association's president and chief executive officer outlined his group's position on the Obama Administration's package of Federal Housing Administration reforms.

He told lawmakers that the administration seeks to give FHA the authority to nationally suspend a lender based of the performance of one of its regional branches.

But he said FHA needs to think twice before making such a move.

He also warned about an across-the-board decrease in FHA loan-to-values....
2006 & 2007 Vintage Drive Jumbo Deterioration
The 60-day delinquency rate on securitized prime jumbo mortgages increased 30 basis points between January and February, Fitch Ratings reported.

Fitch said delinquency on jumbo loans securitized during 2006 and 2007 was three times as bad as the rate on pre-2005 issuances.

Moody's Investors Service said last month that it downgraded 32 tranches from 2005, 2006 and 2007 residential mortgage-backed securities because of "rapidly deteriorating performance of jumbo pools in conjunction with macroeconomic conditions."...
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