Mortgage and Financial News From 2008-6-17 Page 01
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Just When You Thought It Was Safe To Get In The Water - BusinessWeek
A new breed of animal has entered the real estate market the Property Shark. The latest results for Southern California from DataQuick Information Services show what’s going on. The media price in May fell a staggering 27% from $505,000 to $370,000 ...
2008-06-17 09:58:00 -
Senators Deny Knowing Of Home Loan Favoritism - Washington Post
Senate banking committee Chairman Christopher J. Dodd said yesterday that he knew he was part of a "VIP" mortgage program offered by Countrywide Financial , but he said he was not aware that the privilege included waiving fees that regular customers ...
2008-06-17 07:42:00 -
N.Rock seen investigating former board - Reuters UK
LONDON (Reuters) - The new management at Northern Rock, the mortgage bank nationalised in February, has launched an investigation to see if legal action should be brought against the former board, the Financial Times reported. Executive Chairman Ron ...
2008-06-17 10:34:00 -
U.S. mortgage group has broad homeowner aid plan - Reuters
WASHINGTON, June 16 (Reuters) - HOPE NOW, the umbrella group for leading U.S. mortgage firms aiming to help troubled homeowners, on Tuesday will release principles it says will help them avoid foreclosure, it said on Monday. HOPE NOW was formed in ...
2008-06-16 01:53:00 -
Dodd defends VIP mortgage deal (Connecticut Post)
WASHINGTON — U.S. Sen. Chris Dodd and his wife knew that they were VIPs of Countrywide when they refinanced two mortgages in 2003 but never questioned what that designation meant.
2008-06-17 09:40:07 -
Minnesota Housing Creates a Web-Based Loan Management System With ILOG's BRMS, Reducing Loan Eligibility Process to 15 ... (PR Newswire via Yahoo! Finance)
ILOG® today announced that Minnesota Housing, a state agency committed to financing affordable housing opportunities for low and moderate-income Minnesota residents, is using ILOG JRules®, a key offering in ILOG's Business Rule Management System product line, to automate its interest rate commitment, loan eligibility and loan approval processes.
2008-06-17 10:00:00 -
Leveling Foreclosure Rate Could Signal Local Turnaround (The Memphis Daily News)
Foreclosures rose nearly 50 percent nationwide in May compared to the same month a year ago, but locally they increased only 4.9 percent. And foreclos....
2008-06-17 10:09:54 -
After Bear is it Goldman? (India Daily)
The perception in the market place is clear. Lloyd Blankfein, a 53-year-old former gold salesman, now the Goldman Chairman has shielded Goldman for a long time that the firm is in strong footing.
2008-06-17 10:30:06 -
More News (Gazette.Net)
Many Prince George’s County residents just like Adams are feeling the effects of a troubled economy and looking for ways to save as grocery, gas and tax bills rise, and the housing market slumps.
2008-06-17 10:32:05 -
US stocks decline on fresh financial woes (New Kerala)
New York, June 18: US stocks were led lower Tuesday by financial firms still struggling with the effects of the ongoing mortgage crisis.
2008-06-17 10:33:11 -
Subprime lessons: banks must have cash cushion (Gulf Times)
BASEL, Switzerland: The lessons of the subprime crisis are that banks must have big cash cushions to absorb such shocks, tighten up risk incentives and be open about their risk exposure, the top forum for global central banking said yesterday.
2008-06-17 10:52:43 -
Lenders lift Sensex to 1-week high; rupee edges higher (Gulf Times)
MUMBAI: Indian stocks rose to their highest in more than a week yesterday, led by lenders on speculation advance company tax payments underscored accelerating profit growth.
2008-06-17 10:53:18 -
Legg Mason funds take more hits - Baltimore Sun
Legg Mason Inc., which has already committed almost $2 billion to shore up money market funds hit by the mortgage meltdown, will take another hit to bail out investors in closed-end funds hurt by the collapse of the market for so-called auction-rate ...
2008-06-17 09:08:00 -
Emerging FX-Asia gains on Fed rate views, peso at 2-week high - Reuters India
SINGAPORE, June 18 (Reuters) - Asian currencies extended their gains on Wednesday, led by the Philippine peso, as investors raised their long bets on regional currencies amid doubts over how much the Federal Reserve might raise interest rates this ...
2008-06-17 09:01:00 -
Dollar firms after weak US data - News.com.au
THE dollar was firmer at noon as the worst US housing starts data in 17 years weighed down the US currency and expectations of more US rate rise in the near term declined. At 12 noon AEST, the Australian dollar was trading at $US0.9438/44, up from ...
2008-06-17 07:35:00