Mortgage and Financial News From 2008-8-21 Page 01
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Get ready for a mortgage maze - Minneapolis Star Tribune
The first time Jeff and Dana Prottas applied for a mortgage they weren't surprised that they might have to jump through a few hoops to get an OK from the bank, so they worked hard to improve their credit score. So when they backed away from a ...
2008-08-20 05:58:00 -
Central Bankers at Retreat May See Few Options to Fix Economy - Bloomberg
Aug. 22 (Bloomberg) -- The world's top central bankers gather at their annual U.S. mountainside symposium today with a sense there's not much more they can do to repair credit markets and rescue the global economy. Reports in the last week showing a ...
2008-08-21 10:00:00 -
Mortgage Giants, Market Tied in Crisis - Washington Post
Fannie Mae and Freddie Mac are giants of the mortgage finance industry. But to investors, they're rapidly shrinking. And as they struggle, they're taking the housing market with them, reinforcing a downward spiral in which their troubles translate ...
2008-08-21 09:24:00 -
Bank of England Hints at Rate Cut - BusinessWeek
by Sean O'Grady A glimmer of hope for hard-pressed businesses and homeowners emerged from the latest minutes of the Bank of England Monetary Policy Committee (MPC)—with some observers predicting a cut in interest rates by the end of the year as ...
2008-08-21 01:32:00 -
UPDATE 1-Australia's NAB vows to follow official rate cut - Forbes
SYDNEY, Aug 21 (Reuters) - Australia's biggest bank on Thursday said it would pass on any cut in official interest rates to customers, lessening the need for a more aggressive easing by the country's central bank. National Australia Bank (nyse: NAB ...
2008-08-20 10:16:00 -
30-Year Mortgages Dip Slightly to 6.47 Percent (The Memphis Daily News)
WASHINGTON (AP) - Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July.Freddie Mac, the mortgage company, reported Th....
2008-08-21 10:05:31 -
Walk-Away Buyers Add to Housing Woes (The Lakeland Ledger)
How bad are the new housing start numbers' Horrid.
2008-08-21 10:13:44 -
Worst is yet to come for British banks (International Herald Tribune)
The most probable outcome from the crash in both residential and commercial real estate markets is a long, strength-sapping credit crunch alongside repeated dividend cuts and capital increases.
2008-08-21 10:23:37 -
Unsettling NASD, Merrill-Goldman-Deutsche Agree: Compliance (Bloomberg.com)
Aug. 22 (Bloomberg) -- John F. Mangan Jr. , the former hedge-fund manager who two days ago won a civil insider-trading case brought by the U.S. government, will seek to undo a previous settlement with private-sector Wall Street regulator NASD.
2008-08-21 10:37:35 -
Switch to CPI clouds outlook for inflation (Business Day)
THE treasury’s decision to shift SA’s inflation target to a broader measure of consumer prices next year makes sense, given imminent changes in the way the costs of goods and services are calculated.
2008-08-21 11:00:17 -
Bad Begets Worse (Washington Post)
Fannie Mae and Freddie Mac are giants of the mortgage finance industry. But to investors, they're rapidly shrinking.
2008-08-21 11:05:07 -
Landlords take heat on illegal dwellings (Herald News)
Paul Ramirez says that a hefty mortgage payment each month has forced him to rent out rooms in his Hope Avenue property, which he purchased two years ago in Passaic.
2008-08-21 11:11:40 -
Insurers get OK to raise rates (The Clarion-Ledger)
State Farm and Allstate insurance companies have been approved for rate increases, with policyholders on the Mississippi Gulf Coast to get hit the hardest.
2008-08-21 11:32:13 -
Fannie, Freddie fallout hitting home - Seattle Times
Fannie, Freddie fallout hitting home Fannie Mae and Freddie Mac may or may not need a government bailout, but the turmoil surrounding the mortgage-finance companies' decline has already meant four things for borrowers: higher interest rates, more ...
2008-08-20 12:04:00 -
Green Bankshares Declares Regular Quarterly Dividend of $0.13 Per ... - MSN MoneyCentral
Green Bankshares, Inc. GRNB , the holding company for GreenBank, today announced that its Board of Directors has declared a regular quarterly dividend of $0.13 per share, payable on September 24, 2008, to shareholders of record as of September 9 ...
2008-08-20 04:22:00