Mortgage and Financial News From 2007-12-18 Page 7

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  • Fed Taking Steps To Clean Up Mortgage Lending Practices

    HULIQ.com - Mortgage fraud has also played a big role in the decisions that government agencies are making to tighten lending guidelines. Bernanke said, lack of “market discipline” during a years long housing boom which has been followed by an almost two ...
    2007-12-18 03:09:00

  • Specter, Casey ask banks for info in Pa. mortgage fraud case (Centre Daily Times)

    Pennsylvania's U.S. senators and a congressman are asking banks to tell them what steps are being taken to help families affected by a massive mortgage fraud case.
    2007-12-18 10:50:34

  • Democrats propose to license mortgage brokers

    News-Democrat - House Democrats want to require mortgage brokers to be licensed by the state. Democrats say mortgage brokerage companies currently are licensed under federal law, but the individual brokers are not. Their proposal also would require brokers to ...
    2007-12-18 01:57:00

  • Congress Approves Fuel Economy Mandate

    Los Angeles Times - Pelosi and Senate Majority Leader Harry Reid of Nevada acknowledged that they didn't get all they wanted -- unable to push through a tax package that would have rolled back $13.5 billion in tax breaks for oil companies and used the money to help spur ...
    2007-12-18 01:43:00

  • Industry Seethes As FCC's Martin Sets New Curbs

    Wall Street Journal - It has urged mortgage companies to give some subprime borrowers a break, and this week it is expected to propose caps on flights at New York's Kennedy Airport to ease overcrowding. "I genuinely believe that we need to be removing legacy regulations ...
    2007-12-18 01:50:00

  • Investment rescue fund imminent

    CNN Money - NEW YORK (AP) -- The rescue fund being created to reduce banks' losses in mortgage-backed securities should launch in the ... For the most part, companies hope that their copious ad spending will boost their image with consumers. These campaigns had ...
    2007-12-18 02:26:00

  • Goldman scores but shows strains

    CNN Money - ... in a conference call following the earnings release, Goldman's Viniar said the company took writedowns on its mortgage ... For the most part, companies hope that their copious ad spending will boost their image with consumers. These campaigns had ...
    2007-12-18 03:02:00

  • Rumours of a trading downturn forces Goldman Sachs shares lower

    Guardian Unlimited - The new rules would bar mortgage companies from extending credit without making extensive checks on customers' income and ability to make repayments - even after introductory discount rates have expired. Contact us | Print | Clip | Share | Email ...
    2007-12-18 09:47:00

  • Back In Black

    Forbes - Mortgage companies were mixed on the Fed's new rules. The largest U.S. home lender, Countrywide Financial (nyse: CFC - news - people ), fell 23 cents, or 2.4%, to $9.18. Thornburg Mortgage (nyse: TMA - news - people ...
    2007-12-18 02:33:00

  • SoCal home prices see biggest annual drop in 20 years in November

    San Francisco Gate - The housing slump-driven mortgage meltdown has squeezed lenders' ability to make jumbo loans that exceed $417,000 — the current limit on the amount that government-backed mortgage companies Fannie Mae and Freddie Mac will buy from lenders. Those ...
    2007-12-18 02:54:00

  • PROFNET EXPERT & DAILY TOPIC ALERTS: Business & Technology

    CNBC - The mortgage companies avoid foreclosures, and people keep their homes. And, this means no bailout using taxpayer money. It's a win-win for everyone involved. The government should use all of its authorized power to prosecute any and all unscrupulous ...
    2007-12-18 12:03:00

  • Georgia Lawyers Sue HomeBanc

    Forbes - Homebuyers who thought they had approved mortgages went to real estate closings only to find there was no loan and no cash in the accounts of mortgage companies, who had been shut off by lenders. Wall Street acted swiftly to pull its money out when ...
    2007-12-18 01:43:00

  • Defaults Poised to Quadruple as Companies Sinking to Junk Surge (Bloomberg.com)

    Dec. 18 (Bloomberg) -- U.S. corporate defaults probably will quadruple next year after the number of companies that lost their investment-grade credit ratings rose at the fastest pace since 2003.
    2007-12-18 05:43:33

  • More in metro Atlanta seek mortgage help (Atlanta Journal-Constitution)

    With the nation's attention focused on two separate proposals unveiled in recent weeks designed to help borrowers stay in their houses, the Consumer Credit Counseling Service of Greater Atlanta says more mortgage holders who are behind on their payments are seeking help.
    2007-12-18 05:28:13

  • Thornburg Mortgage names CEO, reinstates dividend (Reuters via Yahoo! News)

    Thornburg Mortgage Inc said on Tuesday that it promoted its chief operating officer to CEO and reinstated a quarterly dividend despite ongoing turmoil in the mortgage market.
    2007-12-18 04:48:35

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