Mortgage and Financial News From 2008-3-16 Page 2

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  • Big surprise behind some city foreclosures

    Minneapolis Star Tribune - About three-quarters of the area's homes that were sold by the sheriff went into foreclosure even before the mortgage's interest ... But so far individuals in their houses and their communities are the only ones who have paid the price," Cox said.
    2008-03-13 05:54:00

  • LV at center of mortgage-fraud bull's-eye Official says feds come 'in ...

    Las Vegas Review Journal - I think this is only the tip of the iceberg, not just in Las Vegas but all around the ... Within weeks, mortgage companies sell loans to each other, sometimes increasing interest rates along the way, he said.
    2008-03-15 01:53:00

  • Industry opposition stalls reverse mortgage regulation bill

    Yuma Daily Sun - HB 2506 contains requirements for disclosures of all terms, including interest rates and fees. ... Turk said lenders are willing to absorb those costs - but only if they are assured that the mortgage will be in existence for at least two ...
    2008-03-15 05:59:00

  • AP Business NewsBrief at 7:12 p.m. EDT

    CNBC - ... the Fed said it would pump up to $200 billion into the system by taking mortgage ... meeting with President Bush and the Federal Reserve weighs another deep interest ... The most recent available statistics suggest that only about 30 percent of ...
    2008-03-16 03:49:00

  • JPMorgan Chase Buys Bear Stearns for $270 Million (Update1)

    Bloomberg - That business is probably the only piece left of the company with value after the mortgage market collapsed last year, analysts have said. ... buyers, such as Royal Bank of Scotland Group Plc and HSBC Holdings Plc , which had expressed interest ...
    2008-03-16 05:15:00

  • Investors await Bear impact, Fed meeting

    Forbes - ... said it would pump up to $200 billion into the system by taking mortgage ... the paralysis in the credit markets -- including a series of interest rate cuts and steps to inject hundreds of billions of dollars into the banking system -- have had only ...
    2008-03-16 03:35:00

  • Fed takes new steps to ease crisis

    Forbes - The interest rate will be 3.25 percent and a range of collateral will be accepted to ... The 'discount' rate cut announced Sunday covers only short-term loans that ... Financial institutions have racked up multibillion-dollar losses when mortgage ...
    2008-03-16 05:15:00

  • Mortgage stress hits rich

    News.com.au - AUSTRALIA'S mortgage crisis is deepening and for the first time threatening to ... sales and foreclosures, as consumers struggle under the weight of higher interest ... To date, the delinquency on most loans has only crept up to just above 1 per ...
    2008-03-13 05:54:00

  • Stock market losses mounting

    News.com.au - ... the imbeded "land mine" was that JP's didna have a dime and the Federal reserve is Lending it the mortgage. I give thanks that they are only ... Unless action is taken now to curb debt it won't be long before the US won't be able to pay interest on the ...
    2008-03-16 07:38:00

  • Property auction clearance rates plummet

    News.com.au - ... the clearance rate dropped below the psychologically important 50 per cent mark, with only ... The fact that we have 300,000 families likely to lose their homes this year because of interest rate rises and 750,000 families coming under extreme mortgage ...
    2008-03-16 07:38:00

  • Spread pain or jobs will go

    News.com.au - Everybody spends, but only some people pay a mortgage," Mr Richardson said. "By just using interest rates to tackle inflation, only outer suburban Australia wears the pain.
    2008-03-16 07:24:00

  • Jumbo mortgage loan rates coming down slowly

    San Francisco Gate - No matter what the Federal Reserve does to grease the credit wheels, it seems that mortgage lending just keeps getting ... 15-, 20-, 30- and-40-year fixed-rate, fully amortizing mortgages; 30-year fixed-rate mortgages with 10-year interest-only ...
    2008-03-16 03:20:00

  • Despite Fed's action, mortgage rates not dropping

    Fort Lauderdale Sun-Sentinel - Walter Carney, 62, talked to a mortgage broker about whether he should try to refinance his 10-year , interest-only loan on the three-bedroom home in West Palm Beach that he and his wife, Pat, bought six years ago for $252,000.
    2008-03-16 09:04:00

  • OPINION: Bear Stearns's Fallout Hits the Fed

    Washington Post - The "no-doc," interest-only, no-money-down mortgage turns out to have been a kind of universal American business model. It wouldn't be so bad if the United States were not the issuer of the world's reserve currency.
    2008-03-16 05:22:00

  • Bail-out for banks and Spitzer charges linked

    Scoop - ... the norm, the ‘sub-prime’ mortgage and it’s variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home ...
    2008-03-16 04:46:00

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