Mortgage and Financial News From 2008-1-2 Page 21
Previous Day: 2008-01-01
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Building societies 'best value' - The Press Association
Building societies 'best value'The Press Association - 35 minutes agoThe group said HSBC offered the cheapest standard variable mortgage, saying someone who had a £50000 home loan with the bank would have paid a total of ...
2008-01-02 05:25:00 -
Existing home sales up, overall picture bleak (Siskiyou Daily News)
AP Economics Writer WASHINGTON - Sales of previously owned homes nudged up in November, but that didn’t improve the broader picture of a feeble housing market racked by record-high foreclosures and harder-to-get credit.
2008-01-02 04:48:47 -
Striking a balance in monetary objectives (China Daily)
Effective from December 21, the one-year benchmark deposit rate was increased by 27 basis points to 4.14 percent while the one-year lending rate was up by 18 basis points to 7.47 percent. This was the sixth interest rate rise announced by the People's Bank of China in 2007.
2008-01-02 05:02:59 -
Choosing the correct loan type (Reno Gazette-Journal)
Despite the recent calamity in the home-loan arena, home lenders today continue to offer three basic mortgage types:
2008-01-02 05:04:50 -
News in Brief (The Martha's Vineyard Times)
Oak Bluffs police and fire personnel arrived at a house on 9 Beacon Avenue at 5 pm New Year's Day, in response to a report of a fire and domestic violence.
2008-01-02 05:35:38 -
Seasonal spending to boost insolvent cases (Financial Times)
Excessive consumer spending over Christmas is likely to trigger a third of the expected personal insolvencies in the first quarter of 2008, according to a new study.
2008-01-02 05:39:53 -
More seniors looking to reverse mortgages to make ends meet
Arkansas City Traveler - In fiscal year 1990, 157 reverse mortgage loans were insured by the U.S. Department of Housing and Urban Development. By fiscal year 2007, which ended Sept. 30, that number had grown to 107,558, according to the National Reverse Mortgage Lenders ...
2008-01-02 12:42:00 -
National City cutting its dividend 49%, slashing 900 jobs
14 WFIE - The bank has already cut 3,400 jobs companywide and put sharp restrictions on new mortgage loans. National City has been hit hard in recent months because of rising mortgage delinquencies and defaults amid severe declines in the housing market. ...
2008-01-02 02:29:00 -
National City CEO sees housing pressure all year
Reuters - Earlier Wednesday, National City slashed its common stock dividend by 49 percent, and said it will eliminate 900 jobs as it stops making home loans through brokers. It has cut 3,400 jobs, largely mortgage-related, since the middle of 2007. ...
2008-01-02 12:42:00 -
Home loans jump 98.1% Jan-Nov - Brazil
Business News Americas - ... rose 24.8% to 179bn reais in January-November 2007 compared to the same period in the previous year. Regulations say banks must devote 65% of savings deposits to housing loans. Brazil's financial institutions granted 9.34bn reais in mortgage loans ...
2008-01-02 08:39:00 -
REIT, Hotel Stocks Knocked Down
Street.Com - While General Growth Properties' core mall property fundamentals remain solid -- with 5% expected net operating income growth over the next two years -- the company will face problems refinancing some of the $2.8 billion in mortgage loans maturing in ...
2008-01-02 11:16:00 -
Seven states join Internet system for tracking mortgage brokers, more ...
CNBC - But their market share is likely to slip this year, as the industry returns to more traditional loans backed by government-sponsored mortgage giants Fannie Mae and Freddie Mac. Those loans have typically been the business of mortgage banks, not ...
2008-01-02 10:26:00 -
PHH scraps deal to sell itself to GE, Blackstone
Philadelphia Inquirer - PHH Mortgage, which formerly did business as Cendant Mortgage, is among the top 10 originators of residential mortgage loans in this country. PHH Arval, the fleet management subsidiary, accounts for more than two-thirds of company sales and is the No ...
2008-01-02 01:46:00 -
Mixed Messages About Maine Mortgage Foreclosures
Lincoln County News - For Maine, subprime mortgage loans originated in 1999, Maine has the highest cumulative foreclosure in New England, more than one in five (20.9 percent). Also, Maine subprime loans serviced by the Mortgage Bankers Association between 2003 and 2005 ...
2008-01-02 11:02:00 -
37 charged in mortgage scam
Fort Bend Star - After an extensive investigation 37 people were charged for their part in an alleged scam to fraudulently obtain mortgage loans worth $5.6 million. The scheme, allegedly spearheaded by Obbie Toliver Sr. and Joyce Toliver, involved a recruiter finding ...
2008-01-02 12:13:00
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