Mortgage and Financial News From 2008-1-12

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  • Lollipop Economics 101 (Newsweek)

    An 'economic stimulus' package would be less about altering the unemployment rate and more about influencing voters' views of vying politicians.
    2008-01-12 11:21:20
  • Cloud on horizon for buoyant dairying (Stuff)

    Higher debt servicing costs are only the start of unhappy flow-on effects for New Zealanders from the US credit crunch.
    2008-01-12 11:47:54
  • Lifelines in a sea of debt (Stuff)

    Post-Christmas debt blues spark a loan-consolidation rush starting in February when credit-card statements start arriving in letterboxes, but the wrong moves could end up doing more harm than good for borrowers.
    2008-01-12 11:48:04
  • Inflated risk of tougher times (Stuff)

    Over the first two trading days of 2008, the US sharemarket fell to the level it began 2007 with meaning that investing in the world's largest market last year was pretty much a waste of time.
    2008-01-12 11:50:32
  • Lavish Payout, Perks for Failed Mortgage CEO

    ABC News - ... calendar 2006, the latest period available for review in Securities and Exchange Commission filings, Mozilo took home ... Subprime Rescue: Bank of America Buys Mortgage Lender Countrywide
    2008-01-10 03:53:00
  • Rays of Light on the Horizon

    Barron's Online - Jerry Baker, president of Memphis' First Horizon National, has abandoned his bank's grand ambition of creating a big, national mortgage business -- to focus on building a more formidable lender in its home state of Tennessee. Of course, he's pulling ...
    2008-01-12 08:27:00
  • Countrywide employees are nervous

    Los Angeles Times - ... estimated that he has already lost about 4% of his business because of recent layoffs and transfers at the mortgage lender. In September, Countrywide said it would cut as many as 12,000 jobs as the downturn in the housing market and chaos in the home ...
    2008-01-12 09:03:00
  • No quick fix for those with mortgage troubles

    St. Petersburg Times - WASHINGTON - The rolling tsunami of home-loan delinquencies and foreclosures is exposing serious problems in the mortgage industry's capacity to quickly handle ... In a short sale, the lender agrees to accept less than the principal balance owed by ...
    2008-01-12 08:27:00
  • State reins in lender

    Boston Herald - S tate regulators are pulling the plug on a Norwood mortgage firm they say used forged ... For instance, Mass Lending allegedly gave one lender a fake bank letter ... News tips | Electronic edition | Browser upgrade | Home ...
    2008-01-12 07:37:00
  • Citigroup May Turn to Alwaleed, China for Cash to Offset Losses

    Bloomberg - Mortgage Writedowns The lender may report a fourth-quarter loss of $4.21 billion on Jan. 15, according to a survey of 17 analysts by Bloomberg. The bank may take almost $19 billion of writedowns on its mortgage-related investments ...
    2008-01-12 10:14:00
  • Britain's home values top $8 trillion - Earthtimes

    Britain's home values top $8 trillionEarthtimes, UK - 4 hours ago... equity continues to outweigh mortgage debt by a three to one margin, said Martin Ellis, chief economist at Halifax, Britain's largest mortgage lender. ...
    2008-01-12 06:47:29
  • Should You Buy These Stocks Now? - The Money Times

    Should You Buy These Stocks Now?The Money Times, India - 4 hours agoBut focusing on the top picks from the best lenders seems like a way to profit handsomely if things go well, while avoiding getting singed too badly if ...
    2008-01-12 06:51:46
  • The Market and Individual Responsibility - PoliGazette

    The Market and Individual ResponsibilityPoliGazette, Netherlands - 3 hours agoI hardly think any loan officer or mortgage salesman has to pull any kind of trickery on someone looking to buy a home in the “sub prime” market. ...
    2008-01-12 07:42:01
  • Bank of America’s Chief Makes Big Bet - New York Times

    Bank of America’s Chief Makes Big BetNew York Times, United States - 3 hours agoBy CHARLES DUHIGG Paul Sakuma/AP The mortgage giant Countrywide Financial Corporation was brought to its knees by the weakening housing market. ...
    2008-01-12 08:06:11
  • All about home and mortgage loans - Financial Express

    All about home and mortgage loansFinancial Express, India - 1 hour agoIn both cases, the property is mortgaged to the lender. If the money received from a mortgage loan is used for business purposes, the interest can be ...
    2008-01-12 09:39:07