Mortgage and Financial News From 2008-10-6 Page 01
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Lenders face huge hit on mortgages fraudulently obtained by crime ... - Times Online
Britain’s mortgage lenders may be sitting on hundreds of millions of pounds of worthless loans fraudulently obtained by criminals to support drug manufacturing, illegal immigration and money-laundering. Bradford & Bingley, the buy-to-let mortgage ...
2008-08-29 05:54:00 -
Feds Urge Lenders To Refinance - CBS News
The federal government has started a program to encourage mortgage lenders to refinance high-interest subprime loans rather than foreclosing. Wyatt Andrews reports. Flash Player is required to view video on CBSNews.com Windows Media Player is ...
2008-09-10 11:09:00 -
Mortgage Lending Hits Three-Year Low in Britain - BusinessWeek
The August drop reflects the depressed level of house sales—half last year's figure—and deep disquiet about the future Mortgage lending sunk to a three year low during August with just £21.8 billion advanced, the Council of Mortgage Lenders said ...
2008-09-17 05:53:00 -
Gross mortgage lending down 36 percent - Reuters UK
LONDON (Reuters) - Gross mortgage lending fell 12 percent in August and 36 percent on the year, the Council of Mortgage Lenders said on Thursday. That put the total at 21.8 billion pounds, the lowest monthly figure since April 2005 and the lowest ...
2008-09-18 02:50:00 -
Soybeans rise after bailout of mortgage lenders - Forbes
Soybean prices rose Monday after a government bailout of Fannie Mae and Freddie Mac boosted expectations that the economy will improve and demand for commodities will grow. Soybeans for December delivery rose 15 cents to settle at $11.92 a bushel on ...
2008-09-08 03:26:00 -
Mortgage lending hits three-year low - Guardian Unlimited
Mortgage lending fell to its lowest level in more than three years in August, as uncertainty among lenders and consumers gathered pace, figures showed today. A total of £21.8bn was advanced to borrowers during the month - a 12% fall from July and 36 ...
2008-09-17 05:53:00 -
U.K.'s largest mortgage lenders in merger talks - CNN Money
WASHINGTON, D.C. (AP) -- HBOS PLC and Lloyds TSB PLC were in advanced talks about a merger, the British Broadcasting Corp. reported Wednesday as HBOS shares again came under heavy selling pressure in the market. Neither company would comment on what ...
2008-09-16 05:54:00 -
Big UK mortgage lenders talk merger - CNN Money
LONDON (AP) -- Embattled mortgage lender HBOS PLC confirmed Wednesday that it is in advanced talks about being taken over by Lloyds TSB PLC in what would be a further reshaping of the financial industry amid the credit crisis. The brief announcement ...
2008-09-16 05:54:00 -
Search the Archives (Kansas State Collegian)
This article is the first in a two-part series on the ongoing financial crisis on Wall Street. Today’s piece will focus on the underlying causes of the problem; Monday’s piece will examine the proposed government bailout plan and the implications of the crisis as a whole.
2008-10-06 10:49:43 -
Australia Cuts Rate by Most Since 1992; Asian Stocks Rebound (Bloomberg)
Oct. 7 (Bloomberg) -- Australia's central bank cut its benchmark interest rate by one percentage point, the most since a recession in 1992, triggering a rebound in Asian stocks on speculation other countries will follow to unlock credit markets.
2008-10-06 11:01:10 -
BofA to modify troubled Countrywide mortgages (Whittier Daily News)
About 125,000 California homeowners stand to benefit from a loan modification program aimed at keeping them in their homes.
2008-10-06 11:05:52 -
Europe governments go their own way on crisis (KYIV Post)
www.nytimes.com In response to the global financial meltdown, European leaders have been unable to coordinate their response.
2008-10-06 11:09:12 -
Credit unions appear to avoid turmoil (Lawrence Journal-World)
The national economy is in turmoil, but a relative calm exists at state and local credit unions.
2008-10-06 11:17:55 -
With bailout package in doubt, consumers, businesses could feel a pinch (Kane County Chronicle)
For Steven McCormick, Monday’s vote did not mark the end of the world.
2008-10-06 11:18:33 -
Central Banks Inject Cash, Slash Rates to Ease Credit Crunch (Bloomberg)
Oct. 7 (Bloomberg) -- Central banks pumped more than $11 billion into money markets and Australia slashed interest rates by the most in 16 years, seeking to ease a credit freeze threatening to tip the world economy into recession.
2008-10-06 11:19:08