Mortgage and Financial News From 2008-7-7 Page 01
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FACTBOX-Impact of rescue legislation for U.S. housing - Forbes
United States - WASHINGTON (Reuters) - This week the U.S. Senate is expected to pass legislation to create a $300 billion government fund that would guarantee failing mortgages before they hit foreclosure. Under the plan, the Federal Housing ...
2008-07-07 03:37:00 -
U.S. Pending Home Sales Probably Fell for Third Month in Four - Bloomberg
July 8 (Bloomberg) -- Americans signed fewer contracts to buy previously owned homes in May for the third month in four, a sign home prices have yet to touch bottom, economists said before a private report today. The index of pending home resales ...
2008-07-07 09:27:00 -
Stocks Reverse Lower on Inflation Concerns - BusinessWeek
Major U.S. stock indexes gave up earlier gains and were trading lower Monday afternoon despite a retreat in oil prices, as hawkish remarks by San Francisco Federal Reserve President Janet Yellen stoked worries about impending rate hikes that could ...
2008-07-07 10:58:00 -
Fidelity Reverse Mortgage Raises the Bar on Origination - Transworld News
Fidelity Reverse Mortgage, a reverse mortgage company headquartered in Denver, Colorado, is not a typical reverse mortgage lender. With the concerns plaguing the traditional mortgage market, many of those lenders are flocking to the reverse mortgage ...
2008-07-07 03:08:00 -
Mortgage rescue plan draws Senate support - Guardian Unlimited
WASHINGTON (AP) - A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections. The Senate voted 76-10 to advance the bill, a broad ...
2008-07-07 07:33:00 -
Wipe-out fear for Bradford & Bingley's investors - Daily Telegraph
When the Financial Services Authority hammered out a new rescue for Bradford & Bingley last week with a handful of City institutions, the urgent aim was to make sure the stricken buy-to-let lender did not go to the wall. But with B&B's shares falling ...
2008-07-07 07:26:00 -
Asian Markets Mostly Lower on Nagging Credit Concerns - CNBC
Asian markets were mostly lower with Japan and South Korea down sharply as financial firms were pressured by nagging credit concerns, while a drop in oil prices hurt energy firms. U.S. bank stocks slumped to their lowest level in a decade after ...
2008-07-06 05:54:00 -
Housing, the Subprime Mortgage Crisis and the Enduring Resilience of ... - US News and World Report
A year ago last month, I attended two international conferences, in Istanbul and Oxfordshire, England, that concentrated on the economy. The consensus was that there was a capital surplus around the world, with people looking desperately for places ...
2008-07-06 05:54:00 -
Time for Fannie, Freddie? - Wall Street Journal
Fannie Mae and Freddie Mac took another beating Monday, and investors may be wondering if it is time to buy shares in the government-sponsored mortgage buyers. But perhaps the right question is whether the common equity in Fannie and Freddie will ...
2008-07-07 05:46:00 -
Yen Gains on Speculation U.S. Mortgage Industry Losses to Widen - Bloomberg
July 8 (Bloomberg) -- The yen rose against the euro on speculation widening U.S. mortgage industry losses will prompt investors to pare holdings of higher-yielding assets funded with the Japanese currency. The yen also advanced against the Australian ...
2008-07-06 05:54:00 -
Jeremy Warner's Outlook: Think the unthinkable. Might bankers have to ... - The Independent
Hard to believe, but this time last year the boom was still in full swing. House prices in some parts of central London were rising at an annualised rate of more than 30 per cent, getting a mortgage was as easy as plucking fruit from a tree, and ...
2008-07-07 03:44:00 -
Credit Crisis Shakes Confidence In Student Loans - NPR News
Morning Edition , July 8, 2008 · For decades, the federal student loan program has helped tens of millions of students pay for college. For private lenders, issuing government-backed loans has been risk-free and profitable. For families, the program ...
2008-07-07 06:36:00 -
Mortgage Fears Depress Stocks at Fannie and Freddie - New York Times
As home prices decline and Washington struggles to end the economic malaise, Wall Street is starting to send a sobering message: The worst is yet to come. One of the strongest warning signs came Monday, when shares of the nation’s most important ...
2008-07-07 07:11:00 -
Market Report -- In Play (IMB) - MSN MoneyCentral
IndyMac Banc follow up: Regulators have advised co they are no longer "well capitalized" On co's corporate blog, IMB says "in this very difficult and challenging environment, any of the actions that we take to keep Indymac safe and sound ...
2008-07-07 01:57:00 -
U.S. Stocks Retreat, Led by Banks; Fannie, Freddie Shares Drop - Bloomberg
July 7 (Bloomberg) -- U.S. stocks fell, erasing a 111-point rally in the Dow Jones Industrial Average, as growing concern over Freddie Mac and Fannie Mae sparked a decline in financial companies that overshadowed an almost $4-a-barrel drop in oil ...
2008-07-07 01:49:00