Mortgage and Financial News From 2007-12-18 Page 12

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  • Highlights of Proposed Mortgage Reform

    BusinessWeek - Prohibit lenders from paying mortgage brokers "yield spread premiums" that exceed the amount the consumer had agreed in advance the broker would receive. A yield spread premium is the fee paid by a lender to a broker for higher-rate loans. ...
    2007-12-18 01:43:00
  • Fed Endorses Home Mortgage Protections

    Forbes - Mortgage lenders worried that the Fed plan was too tough and could crimp customers' choices. "We worry that some of the product restrictions could make it harder for bankers to tailor products for their customers and communities and result in some ...
    2007-12-18 02:40:00
  • UPDATE 5-Fed proposes mortgage rules to protect borrowers

    Reuters - WASHINGTON, Dec 18 (Reuters) - Lenders will have to confirm that a borrower can afford a mortgage before making a loan under protections proposed by the Federal Reserve on Tuesday, following defaults and losses on U.S. subprime mortgages this year ...
    2007-12-18 02:40:00
  • Fed proposes mortgage rules to protect borrowers

    CNBC - WASHINGTON - Lenders will have to confirm that a borrower can afford a mortgage before making a loan under protections proposed by the Federal Reserve on Tuesday, following defaults and losses on U.S. subprime mortgages this year. The proposals are ...
    2007-12-18 02:40:00
  • NAACP: Bailout Mortgage Plan Is Too Little Too Late for the Majority of African American Borrowers; Amended NAACP ... (Marketwire via Yahoo! Finance)

    The National Association for the Advancement of Colored People, which filed a class action lawsuit in July against a dozen major subprime lenders alleging institutionalized racism in lending practices, says President George Bush's plan to freeze introductory mortgage rates for five years won't help the majority of African Americans who have already been victimized by discriminatory lending ...
    2007-12-18 02:32:00
  • Fed staff proposes new mortgage protections (KPLC Lake Charles)

    WASHINGTON (Reuters) - U.S. lenders would have to determine that a borrower can afford a mortgage before making the loan under a Federal Reserve staff proposal on new regulations released on...
    2007-12-18 08:09:19
  • Fed Takes on Mortgage Crisis (R News)

    WASHINGTON, DC — The Federal Reserve is devising a plan aimed at tackling the mortgage crisis. Among planned changes are limits on penalties mortgage lenders can place on sub prime borrowers who pay off their loans early.
    2007-12-18 11:26:04
  • Federal Reserve looking at ways to end subprime mortgage abuses (WLBT 3 Jackson)

    WASHINGTON (AP) - The Federal Reserve is looking at a plan that seeks to protect borrowers from shady mortgage practices. The proposal from Fed staff members includes barring lenders from making loans to people without verification of income.
    2007-12-18 09:06:02
  • Fed proposes new mortgage protections for consumers (Environmental News Network)

    WASHINGTON (Reuters) - U.S. lenders would have to determine that a borrower can afford a mortgage before making the loan under a Federal Reserve staff proposal on new regulations released on Tuesday. The proposed rules, which will be considered later on Tuesday by the Fed board, would also require that borrowers get details on their brokers' compensation and be billed monthly for escrow. If the ...
    2007-12-18 08:07:00
  • Fed cracks down on lenders (CNNMoney.com via Yahoo! Finance)

    The Federal Reserve on Tuesday proposed a much stricter set of rules for mortgage lenders as part of the central bank's effort to avert abusive lending.
    2007-12-18 01:56:00
  • Fed staff proposes new mortgage protections (Reuters via Yahoo! News)

    U.S. lenders would have to determine that a borrower can afford a mortgage before making the loan under a Federal Reserve staff proposal on new regulations released on Tuesday.
    2007-12-18 06:47:55
  • Fed proposes mortgage rules to protect borrowers (Reuters via Yahoo! News)

    Lenders will have to confirm that a borrower can afford a mortgage before making a loan under protections proposed by the Federal Reserve on Tuesday, following defaults and losses on U.S. subprime mortgages this year.
    2007-12-18 02:46:10
  • You better watch out for a tough Christmas

    News.com.au - A major report released yesterday showed there would be no relief from sky-high petrol prices and there were fresh warnings about food prices and interest-rate hikes in the new year. The warnings came as the Australian share market plunged again ...
    2007-12-18 01:00:00
  • Bank seen cutting interest rates twice in 2008

    Reuters UK - LONDON (Reuters) - UK economic growth will slow even more next year than thought just a month ago as the housing market cools and consumers grapple with debt, leading to two more Bank of England interest rate cuts, a Reuters poll shows. The monthly ...
    2007-12-18 06:12:00
  • Slovak central bank keeps main interest rate unchanged at 4.25 pct, as ...

    Forbes - PRAGUE (Thomson Financial) - The Slovak central bank (NBS) today left its main interest rate unchanged at 4.25 pct for an eighth consecutive month, sticking with a cautious approach on inflation as it prepares to adopt the euro in 2009. The decision ...
    2007-12-18 02:30:00