Mortgage and Financial News From 2008-7-12 Page 9
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What's next for Fannie, Freddie? (San Diego Union-Tribune)
The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the “for sale” sign in the yard.
2008-07-12 03:19:49 -
GOP leaders oppose eliminating income tax (Sentinel & Enterprise)
BOSTON (AP) -- The Massachusetts Republican Party is so concerned with excessive state spending, it publicized Sen.
2008-07-12 03:23:13 -
Stocks, dollar slide on latest credit crisis fear (Washington Post)
NEW YORK (Reuters) - Fear the two largest U.S. mortgage finance companies are in such poor health that they need a government bailout pushed financial markets lower on Friday, although stocks pared losses as officials began to talk of safety-net moves for the ailing sector.
2008-07-12 03:23:40 -
City jobless rate dips to 5.6% (The Sudbury Star)
Tens of thousands of Canadians, most of them in Ontario, lost their full-time jobs or were forced into part-time work last month as the country's economy showed signs of retreating, two Statistics Canada reports suggest. Friday's much-dreaded jobs report was even worse than forecast, with the country losing [...]
2008-07-12 03:28:33 -
Bus service for Maltby and Clearview? (Everett Herald)
Brenda Tritt lives in Lake Stevens, works in Clearview and can't take the bus to her job. It isn't that Tritt, a waitress at the Clearview Cafe, needs her car while she's working. It's just that for anyone going to Clearview or Maltby, there's no bus to take.
2008-07-12 03:43:29 -
Banking regulators take over IndyMac - Detroit Free Press
The Office of Thrift Supervision says it has closed mortgage lender IndyMac Bank. The banking regulator said Friday it has transferred IndyMac's operations to the Federal Deposit Insurance Corp. after determining the thrift is unlikely to meet ...
2008-07-12 12:15:00 -
BMO limits amortization to 35 years - Edmonton Journal
TORONTO - Bank of Montreal said Friday it will stop offering 40-year mortgages, making it one of the first of Canada's big banks to act on planned changes to federal mortgage-insurance rules. BMO, Canada's fourth largest bank, said that effective ...
2008-07-12 01:55:00 -
Borrowers advancing their claim with fake paperwork - Guardian Unlimited
The net seems to be tightening on dodgy mortgage brokers - but what about dodgy borrowers? What are the lies people tell to get mortgages? What happens if they get caught? Does anyone get caught? A spokesman for City watchdog the Financial Services ...
2008-07-12 01:55:00 -
PMI Provides Update on Paid Claims Guidance, Quality of New Insurance ... - Forbes
WALNUT CREEK, Calif., July 10 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: PMI) (the "Company" or "PMI") today provided a mid-year update to its paid claims guidance, the quality of new business written and the claims paying financial ...
2008-07-10 12:06:00 -
Administration seeks to calm fears over Fannie Mae, Freddie Mac - Los Angeles Times
WASHINGTON -- The Bush administration scrambled Friday to calm speculation that the government would be forced by the housing crisis to take over Fannie Mae and Freddie Mac, but shares of the mortgage giants tumbled anyway and yanked down the overall ...
2008-07-11 11:46:00 -
Deal announced on flooding insurance (The Business EDP 24)
The insurance industry and the government yesterday announced an agreement to ensure householders are able to obtain protection against flooding. Insurers have pledged to continue providing protection to any property deemed to have a risk of less than one in 75 from flooding.
2008-07-12 01:17:54 -
Regulators Seize Mortgage Lender (NYTimes.com via Yahoo! Finance)
IndyMac Bancorp, one of the country’s largest mortgage lenders, was a star in the subprime era.
2008-07-12 01:38:30 -
INDYMAC MORTGAGE CO. SEIZED BY FEDS (New York Post)
IndyMac Bancorp Inc., the second-biggest independent US mortgage company in 2007, was seized by federal regulators after it failed to raise cash amid the worst housing crisis since the Great Depression. The Federal Deposit Insurance Corp. will run...
2008-07-12 01:51:38 -
Aid for Fannie, Freddie studied (Louisville Courier-Journal)
Wall Street and Washington wrestled yesterday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market.
2008-07-12 01:56:40 -
Steady Freddie or Fannie in a sling? (Chicago Sun-Times)
Fannie and Freddie sound like the couple next door. But if you're a homeowner, they're closer to you than that. Fannie Mae and Freddie Mac are the common names for two companies that guarantee or hold about $5 trillion in U.S. home loans, or half of the nation's mortgage debt.
2008-07-12 02:03:39