Mortgage and Financial News From 2008-2-23
Previous Day: 2008-02-22
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Q&A: Northern Rock and Granite
BBC News - This seems a wise precaution in view of the credit crunch, which has called the viability of all mortgage-backed bonds into question. ... to claims for help from other UK banks whose earnings have been hit by bad debts from their mortgage-backed ...
2008-02-21 04:05:00 -
Flat market not so bad, Realtors say
Rapid City Journal - Flat market not so bad, Realtors say Rapid City housing market bucks nationwide trend ... can get a 30-year fixed-rate loan for about 5.75 percent, according to Vern Burress at Affiliated Mortgage in Rapid City. However, he said credit ...
2008-02-21 07:18:00 -
Profits up at ‘prudent’ Lloyds TSB
IC Wales - ... and Gloucester and Scottish Widows, reported lower levels of customer defaults, with bad ... to the credit woes, it had limited exposure to investments affected by the tightening in credit conditions and the collapse of America’s sub-prime mortgage ...
2008-02-23 01:10:00 -
UPDATE 2-Citigroup provides $500 mln credit to hedge funds
Reuters - ... Citigroup Inc (C.N: Quote , Profile , Research ) said on Friday it has provided a $500 million line of credit to ... Plus Strategies lost 52 percent in the fourth quarter, its first three months in existence, after making bad bets on mortgage ...
2008-02-21 03:53:00 -
Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish
Bloomberg - The foreclosure rate, at 1.69 percent of all U.S. homeowners, is the highest since the Mortgage Bankers Association began tracking it in 1993. The foreclosure rate for subprime borrowers, who have bad or incomplete credit and whose mortgages ...
2008-02-21 09:23:00 -
Banks buck up with rising fees (The Myrtle Beach Sun News)
Banks are being pummeled by bad loans and the weakening economy. Now they are passing on some of the pain to consumers. Across the country, banks have begun jacking up fees charged for using automated teller machines and dipping account balances into the red, while also imposing fees on a wider range of transactions. Earlier this month, for example, J.P. Morgan Chase & Co. started charging ...
2008-02-22 09:27:11 -
Citigroup provides $500 million credit to hedge funds (The Times of India)
Last week, Citigroup said it had suspended withdrawals from another fixed-income hedge fund, CSO Partners, following a 10 percent loss in November.
2008-02-22 09:41:26 -
Profits up at ‘prudent’ Lloyds TSB (icWales)
BANKING giant Lloyds TSB shrugged off the credit market turmoil that has rocked many of its rivals as it posted a 6% hike in annual profits to £3.92bn.
2008-02-22 10:59:54 -
Buffett sees value, ups stakes in Wells, USB (MENAFN)
Buffett sees value, ups stakes in Wells, USB
2008-02-23 12:34:01 -
The guys who had a gut feeling for risk (The Globe and Mail)
Inside his boardroom, Prem Watsa keeps an unusual artifact: a bronze bust of Sir John Templeton, the 95-year-old legend of value investing. The item was a 50th birthday gift for the chairman of Fairfax Financial Holdings Ltd.
2008-02-23 03:06:11 -
Mall Requires Chaperones for Teens (R News)
A new parental accompaniment policy at the Mall at Greece Ridge will go into effect in the next thirty days. The details have not been finalized ,but teenagers as old as 19 could be banned on Friday and Saturday nights unless they are being supervised by a parent.
2008-02-23 03:45:46 -
Banks try to ease burden on borrowers (The Charlotte Observer)
Faced with rising foreclosures among their customers, Charlotte's big banks have been ramping up efforts to work with borrowers struggling to make their mortgage payments. Bank of America and Wachovia are adding staff to work with homeowners and have restructured thousands of loans. Bank of America is part of a national initiative that is offering to pause the foreclosure process for some ...
2008-02-23 03:54:32 -
Press Gaggle by Scott Stanzel
Forbes - Q Scott, is the administration considering a new program to purchase and refinance billions of dollars of mortgages in danger ... Congressman John Shadegg became the first of the 29 Republicans who announced his retirement to reverse his decision last ...
2008-02-22 09:11:00 -
Exeter briefs
Portsmouth Herald - Free seminars on reverse mortgages If you or a loved one are 62 or older, a homeowner and interested in learning about reverse mortgages, attend a free seminar hosted by Heather L.
2008-02-22 02:38:00 -
Baby Boomers Reveal Financial and Retirement Concerns
Insurance News Net - For all their advantages, reverse mortgages can cost more than traditional loans because of the monthly interest added to the principal loan balance. In time, the compounded amount of interest owed will substantially increase but won’t be ...
2008-02-21 01:16:00