Mortgage and Financial News From 2007-12-13 Page 19

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  • Ill. AG probing Countrywide's lending practices (St. Louis Post-Dispatch)

    Illinois Attorney General Lisa Madigan is investigating the home loan unit of Countrywide Financial as part of the state's expanding inquiry into dubious lending practices that have trapped borrowers in high-cost mortgages they can no longer afford.
    2007-12-13 06:16:09
  • IPOs in Australia Fizzle as Losses in Uranium, Subprime Mount (Bloomberg.com)

    Dec. 13 (Bloomberg) -- Australian initial public offerings may lose money for a second straight year in 2008 as investors retreat from unprofitable commodity explorers and financial companies infected by losses from subprime mortgages.
    2007-12-12 03:45:55
  • Mortgages not to hit UAE bank profits much-cenbank (Reuters via Yahoo! Malaysia News)

    ABU DHABI, Dec 12 - Exposure to mortgages by banks in the United Arab Emirates is limited and will not affect their profits in 2007, the UAE central bank governor said on Wednesday.
    2007-12-12 09:01:46
  • Second rescue saves subprime casualty SachsenLB (Reuters via Yahoo! News)

    The German state and public banks clubbed together for the second time in five months to save subprime-stricken SachsenLB from collapse, heading off a blow to confidence in the country's financial system.
    2007-12-13 04:05:02
  • U.S. economic woes dominate trade talks

    Miami Herald - ... turned the tables on their American counterparts, saying the subprime mortgage ... industrial economy -- was, as Paulson said, ``central to each nation's interest and ... China to allow its currency to rise in value against the dollar -- not only for ...
    2007-12-13 01:17:00
  • Countrywide mortgage firm to help save Cleveland clients' homes

    Cleveland Plain Dealer - Countrywide Financial Corp., the nation's largest mortgage lender and a major player ... Mark Seifert, the group's executive director, expects Countrywide to reduce interest ... Seifert said Countrywide has reworked only about 30 loans for the group's ...
    2007-12-13 04:59:00
  • Market drops; worries over credit plan, Lehman

    Reuters - Key interbank lending rates showed only a slight reaction to the plan by the ... in credit markets that have tightened in response to the U.S. subprime mortgage ... Street plunged in reaction to the Fed's modest quarter-percentage point interest ...
    2007-12-13 07:36:00
  • FOREX Czech crown weakens on lower risk appetite, zloty and forint ...

    Forbes - ... from continuing concerns over the US economy and its battered sub-prime mortgage ... the crown's appreciation to ease in coming months, pushing the bank to up interest ... News and its third party content providers for your personal information only ...
    2007-12-13 06:25:00
  • Crisis has legs despite central bank endeavour

    International Herald Tribune - ... markets fizzled out on Thursday with experts saying the credit crisis would only ... the SNB said central banks alone could not solve the crisis, as it kept interest ... Countrywide Financial Corp , the largest U.S. home loan lender, said mortgage loan ...
    2007-12-13 06:46:00
  • Credit crisis concerns help drive markets lower

    Edmonton Sun - The agency also reported that Canada's overall labour productivity advanced a sluggish 0.2 per cent in the summer quarter, with the only growth occurring in services while manufacturing output per hour of work declined In New York, the Dow Jones ...
    2007-12-13 06:39:00
  • 'Straw buyers' ran up mortgage loan scam

    Chicago Sun-Times - In what authorities say is a symptom of the excesses in the subprime mortgage market, 15 people are charged with ... To get the high-interest loans, borrowers only had to verify they had a job, but did not have to verify their income. Straw buyers ...
    2007-12-13 01:53:00
  • Foreclosure bailout plan may help few (Bankrate.com via Yahoo! Finance)

    The mortgage interest rate freeze is targeted toward a relatively small group of homeowners whose situations meet very specific requirements.
    2007-12-13 03:00:00
  • Manipulating the Interest Rate: a Recipe for Disaster (Ludwig von Mises Institute)

    The turmoil in the US subprime mortgage market has developed into an international credit crisis.
    2007-12-13 06:51:38
  • Mortgage foreclosure bailout plan may help few (Bankrate.com)

    If you're a homeowner who has an adjustable-rate mortgage, you may already have been disappointed to discover that your situation doesn't qualify for the ARM interest-rate freeze that was announced with much fanfare last week. You're not alone.
    2007-12-13 06:07:21
  • Early mortgage payment could cut tax bill (Bankrate.com via Yahoo! Finance)

    Make your January mortgage payment by Dec. 31 and you'll have extra interest to deduct on your upcoming tax return.
    2007-12-13 03:00:00