Mortgage and Financial News From 2008-2-12 Page 48
Previous Day: 2008-02-11
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Bush administration announces program to help embattled homeowners threatened with foreclosure (MSN Money Canada)
WASHINGTON - U.S. homeowners threatened with foreclosure would in some instances get a 30-day reprieve under an initiative the Bush administration announced Tuesday.
2008-02-12 11:56:50 -
FHLBank Pittsburgh Announces Earnings for 2007; Quarterly Dividend Declared (wallstreet:online AG)
The Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) announces financial results for the
2008-02-12 11:59:39 -
Bush Throws Mortgage Holders 'Project Lifeline' (CBS 13 Sacramento)
The Bush administration, trying to deal with a worsening housing slump, announced a new initiative Tuesday aimed at helping homeowners about to lose their homes. For qualified homeowners, it will put the foreclosure process on hold for 30 days.
2008-02-12 12:05:53 -
Lenders unveil effort to reach homeowners facing foreclosure (South Florida Business Journal)
Six mortgage servicers -- including several of the biggest lenders in South Florida -- along with the U.S. Department of the Treasury on Tuesday announced a program to stave off foreclosure for delinquent borrowers, in an attempt to address the housing industry downturn and subprime market meltdown. (BAC) (C) (CFC) (JPM) (WM) (WFC)
2008-02-12 12:06:33 -
Banks to pause delinquent mortgage foreclosures (KPLC Lake Charles)
By Patrick Rucker and David Lawder WASHINGTON (Reuters) - Six top mortgage companies on Tuesday launched a new program aimed at staving off foreclosure for seriously delinquent...
2008-02-12 12:08:14 -
Program Unveiled To Help Financially Strapped Homeowners (KRXI-TV Reno)
Homeowners threatened with foreclosure would in some instances get a 30-day reprieve under an initiative the Bush administration announced Tuesday.
2008-02-12 12:11:50 -
Foreclosures Hurt Housing Market Further (Greenwich Time)
WASHINGTON -- A growing share of home sales are from foreclosures, especially in states hardest hit by the housing bust. In some parts of California lately, nearly 50 percent of home sales come from foreclosed houses.
2008-02-12 12:14:02 -
Major lenders put freeze on foreclosures
CNN Money - He cited FHASecure , which is refinancing many adjustable rate mortgage borrowers into government insured fixed rate loans; a five-year rate freeze , brokered by the Treasury Department, for many subprime ARM borrowers; and the provisions of the ...
2008-02-12 10:56:00 -
Home loans slump more than 20%
MSN UK News - There was fresh evidence of a cooling housing market after figures showed the number of home loans slumped by more than 20% in December. The Council of Mortgage Lenders (CML) said there were 62,000 loans over the month - 22% below November's 78,000 ...
2008-02-12 03:47:00 -
Warren Buffett to the rescue
CNN Money - However, Buffett's plan wouldn't help bond insurers with their most troubled securities - collateralized debt obligations, many of which were backed by subprime mortgage loans. Phil Dow, director of equity strategy at RBC Dain Rauscher, pointed out ...
2008-02-12 07:57:00 -
IndyMac Posts Loss, Says It Has Adequate Reserves (Update3)
Bloomberg - ... mortgages, curtailed home loans last year that didn't meet standards that would make them eligible for sale to government- chartered companies including Fannie Mae or Freddie Mac, the two biggest sources of mortgage money. `Jumbo' Loans ...
2008-02-12 09:52:00 -
UPDATE 4-IndyMac posts $509 million loss on mortgage woes
Forbes - ... its dividend indefinitely Tuesday, but expects to be profitable sooner than expected as it recovers from soaring mortgage ... IndyMac set aside $2.38 billion for bad loans, quadruple its year-earlier reserves, and up 71 percent from the end of ...
2008-02-12 10:13:00 -
Lenders to pause delinquent mortgage foreclosures
Boston Globe - The effort would cover all types of home loans, unlike an earlier plan aimed at freezing interest rates for subprime mortgage holders who cannot afford rates that reset to higher levels. The plan is being undertaken by six mortgage lenders that ...
2008-02-12 10:13:00 -
Plan aimed at forestalling foreclosures
Forbes - The Mortgage Bankers Association reported that at least 1.3 million home mortgage loans were either seriously delinquent or in foreclosure at the end of the July-September quarter. Private economists are forecasting that the number of foreclosures ...
2008-02-12 10:49:00 -
Credit Suisse Net Falls on SF1.3 Billion Writedowns (Update9)
Bloomberg - Fourth-quarter revenue fell 13 percent to 9.4 billion francs, with investment-banking down 36 percent to 3.9 billion francs after markdowns of leveraged loans, mortgage-backed securities and collateralized debt obligations. Pretax profit ...
2008-02-12 09:45:00
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