Mortgage and Financial News From 2007-12-6 Page 12

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  • Brian Fallow: Plenty of bad news in bank's message

    New Zealand Herald - Two-year fixed mortgage rates are already the highest they have been for nine years. And with world financial markets in the grip of a credit crunch, driving up the ... Brian Fallow: Plenty of bad news in bank's message No interest rate relief 'for ...
    2007-12-06 03:37:00

  • Deal reached with US mortgage industry for 5-year rate freeze

    Fort Lauderdale Sun-Sentinel - To qualify, residents must be living in their homes and current on their mortgage ... The bad part of this is that it's not going to help people who need help the ... as 2 million subprime mortgages -- loans provided to borrowers with spotty credit ...
    2007-12-06 02:33:00

  • ECB Holds Steady After BoE Cuts Key Rate

    Philadelphia Inquirer - ... about either a dramatic slowing of growth prospects or an impairment of credit ... Most of the uncertainty in the markets traces back to the subprime mortgage debacle that originated in the United States and snaked worldwide because the bad loans had ...
    2007-12-06 03:30:00

  • Canadian Imperial Plunges on Additional Writedowns (Update8)

    Bloomberg - ... the bank said it may take additional writedowns on investments tied to the U.S. mortgage ... A C$456 million pretax gain from the lender's stake in the Visa Inc. credit-card company boosted earnings. CIBC set aside C$132 million for bad loans, up from ...
    2007-12-06 02:47:00

  • British Economy Headed for Perfect Storm?

    BusinessWeek - And the Financial Services Authority has warned of the "very real prospect" of the global credit crunch getting much worse. It is that bad. ... It began with the collapse of the US sub-prime mortgage market and the housing crash there, problems ...
    2007-12-06 01:00:00

  • MBIA: Got Cash?

    Forbes - ... insure mortgage-backed debt, which has come under pressure as the subprime fallout all but wiped out mortgage credit. The credit ... Ambac management has recently been making its case to the public as to why the situation is not as bad as it seems ...
    2007-12-06 03:52:00

  • Subprime blame game

    CNN Money - ... 4 million homeowners are in danger of losing their homes, many because of bad ... The huge increase in mortgage originations, including a spike in refinancings, during ... Critics also charge that many borrowers, especially minorities, whose credit scores ...
    2007-12-06 02:04:00

  • Sixty-One Economists Sign Letter Opposing Subprime Mortgage Bail Out

    Forbes - Congress advising against "excessive new regulations or federal interventions" to deal with credit repricing in the subprime mortgage market. ... with fewer choices when seeking to buy a home and potentially increasing taxpayer exposure for bad loans ...
    2007-12-06 11:12:00

  • Fannie sets $25 share price for stock offering

    CNN Money - ... keeping a close eye on the offerings, as they gauge the damage inflicted by the turmoil this year in the credit ... Washington-based Fannie warned investors Wednesday that its losses would mount next year from bad mortgages. Its mortgage investments ...
    2007-12-06 03:44:00

  • The subprime mess is just the beginning of the credit crunch.

    Slate - ... a deal under which mortgage lenders would cut ... bottom line under the spreading credit woes. With this action, the market seems to have concluded, the negative effects of the subprime mess may finally be contained.
    2007-12-06 03:16:00

  • Stocks close up after Bush reveals plan

    MSNBC - ... cut when the Federal Reserve meets Tuesday, which could help reinvigorate the slowing economy and loosen up the tight credit ... The plan was worked out between the Treasury Department, mortgage lenders and banks, and could help about 1.2 million ...
    2007-12-06 01:07:00

  • Subprimes: From Bad to Worse (Newsweek)

    The mortgage mess isn't causing our worsening economic condition; it's a symptom of a far more serious problem.
    2007-12-06 04:16:55

  • When a Public Offering Goes Bad Down Under (New York Times)

    A failed I.P.O. in the Australian mortgage industry may offer some lessons for the American market.
    2007-12-06 03:03:28

  • Bush To Announce Mortgage FreezeDay Test (New London Day)

    — President Bush will announce this afternoon an agreement with major mortgage firms to freeze interest rates for five years for financially troubled homeowners — a plan advocates say will help forestall a major foreclosure crisis but some conservatives say amounts to a bailout of people who made bad financial decisions.
    2007-12-06 06:39:47

  • Mortgage rate freeze reached (AP via Yahoo! News)

    The Bush administration offered hope to beleaguered homeowners Thursday with a five-year freeze in loan rates for those who qualify, even as the number of bad mortgages jumped to the highest level ever.
    2007-12-06 04:32:16

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