Mortgage and Financial News From 2008-7-12 Page 01
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Congress wrangles over bill to help fix mortgage mess - Seattle Times
WASHINGTON — A long-stalled mortgage rescue inched toward Senate passage only to be sent back to the House for more votes and negotiations to resolve disputes that are delaying help for hundreds of thousands of homeowners. By a vote of 84-12 on ...
2008-07-11 12:23:00 -
Regulators Seize Mortgage Lender - New York Times
The bank, once part of the Countrywide Financial Corporation, is the first major bank to shut its doors since the mortgage crisis erupted more than a year ago. (IndyMac is not related to Fannie Mae and Freddie Mac , the big mortgage finance companies ...
2008-07-11 05:55:00 -
Banks must be careful or An Post will reap the benefits - Independent
ALTHOUGH Bank of Ireland last week passed on the latest European Central Bank (ECB) rate rise to its mortgage customers, it also increased the interest paid on some of its savings accounts. Let's not be fooled though. With an increase of 0.35 ...
2008-07-12 08:53:00 -
The OTS Approves Taylor, Bean & Whitaker Mortgage Corp.'s Controlling ... - Forbes
After receiving approval by the Office of Thrift Supervision (OTS), in late June, Taylor, Bean & Whitaker Mortgage Corp. (TB&W) acquired a controlling interest in Platinum Bancshares, Inc. on July 9, 2008. William Leaming, the CEO of Platinum ...
2008-07-08 05:59:00 -
Age can play a role in your mortgage equation - Chicago Tribune
If you're over 55 and need a mortgage, the important thing to know is that lenders can't deny you a loan based on your age. But age can factor into your mortgage equation. An approaching retirement makes it important for the borrower to research a ...
2008-07-10 11:26:00 -
The fall of IndyMac - CNN Money
NEW YORK (CNNMoney.com) -- In what could turn out to be the most expensive bank failure ever, troubled mortgage lender IndyMac Bancorp Inc. was taken over by federal regulators on Friday. The operations of the Pasadena, Calif.-based thrift - once one ...
2008-07-12 04:21:00 -
Northern Rock makes life even harder for struggling borrowers - Guardian Unlimited
Northern Rock is using aggressive debt recovery tactics which are putting at unnecessary risk the homes of people struggling to pay back loans, say debt advice experts. The bank is rushing to take court proceedings against defaulters and is ...
2008-07-12 10:04:00 -
It’s a dog’s life (The Advertiser-Tribune)
Mila is a black Labrador. Age unknown. Likes to chase rabbits. Known to stop traffic. Now in the possession of the Seneca County Dog Warden. Needs a home.
2008-07-12 09:32:56 -
South Carolinians facing foreclosure get little help (Island Packet)
WASHINGTON -- South Carolinians in danger of losing their homes are getting little help from the state government in combating one of the nation's fastest-growing foreclosure rates.
2008-07-12 09:45:19 -
First build the nest egg, then purchase the nest (The Star-Ledger)
Mae is trying to take her financial future into her own hands. She's attending graduate school to better her education, and she wants to make some lifestyle changes in the near future.
2008-07-12 09:54:42 -
On the bubble (The Rhinelander Daily News)
As the stock market reacts to the potential collapse of the nation’s two largest mortgage institutions, Fannie Mae and Freddie Mac, the federal government is considering a plan to take over the two companies to provide a guarantee on the $5 trillion of debt they currently own or guarantee. In Rhinelander that news will come as confirmation to what people in small town America have known for ...
2008-07-12 10:02:56 -
Gloom descends on British property sector after boom years (The Economic Times)
Britain's once-booming housing market is slumping and faces the prospect of an even sharper downturn owing to the global credit crunch, according to economists.
2008-07-12 10:07:49 -
AP Financial NewsBrief at 12:53 a.m. EDT (INO News)
SAN DIEGO (AP) _ Barack Obama says there's "little doubt" the U.S. economy has moved into a recession, underscoring the need for a second economic stimulus package, steps to shore up the housing market and a long-term energy policy.
2008-07-12 10:15:03 -
The flip side - Chicago Tribune
T wo years ago, Jason Pietrucha read the foreclosure writing on the wall. The mortgage broker saw California 's growing default rate and prepared for the home-loan tsunami to hit Illinois. Switching to real estate sales, Pietrucha deals almost ...
2008-07-12 03:56:00 -
FSA to pursue Bradford & Bingley takeover - Daily Telegraph
The City regulator will accelerate efforts to broker a potential takeover of Bradford & Bingley once the mortgage lender's crisis-hit rights issue is completed, The Sunday Telegraph has learned. The Financial Services Authority (FSA) is understood to ...
2008-07-12 04:57:00