Mortgage and Financial News From 2008-3-14 Page 9

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  • Lenders Face Still More Misery

    BusinessWeek - So it is unlikely to save mortgage lenders from the next wave of losses, those buried deep in the minutiae of balance sheets. A closer look at the books of big lenders reveals several weak spots that haven't yet shown up in the financial results.
    2008-03-12 09:37:00

  • Five are nabbed in $4M mortgage scheme

    Newark Star-Ledger - The five suspects, all charged with theft by deception and conspiracy, are accused of filing fraudulent mortgage applications that cost lenders more than $4 million in bad loans, said Monmouth County Prosecutor Luis Valentin.
    2008-03-14 12:45:00

  • New mortgage rules could clean up causes of US meltdown: Fed

    Raw Story - Bernanke said rules proposed by the Fed would strengthen oversight of mortgage lenders and protect consumers. "Far too much of the lending in recent years was neither responsible nor prudent," Bernanke said.
    2008-03-14 10:44:00

  • Borrowers Find What Citigroup Says Isn't What It Does (Update1)

    Bloomberg - Commercial mortgage lenders had not used the material adverse change clause, or MAC, to back out of commitments since the Sept. 11 attacks, and the case law on its invocation in mortgage lending has not been established, said Douglas Buck , a real ...
    2008-03-14 11:12:00

  • White House aims to simplify mortgage process

    CNN Money - Paulson's proposal covers regulations for mortgage lenders and other financial institutions as well as investors, regulators and Wall Street credit-rating agencies.
    2008-03-14 12:10:00

  • HUD wants mortgage costs made clear to borrowers

    USA Today - WASHINGTON (AP) — Mortgage lenders would be required to give better estimates of closing costs and improve disclosure of payments to mortgage brokers under rules proposed Friday by the Department of Housing and Urban Development. The new rules ...
    2008-03-14 12:10:00

  • Doubts seen over Jefferson County Ala. debt plan

    Reuters - Most county commissioners on Thursday praised the plan that would seek state authority to use excess sales tax revenues to help pay off obligations accumulated through interest-rate swaps based on bonds issued to finance the repair and expansion of ...
    2008-03-14 07:09:00

  • Bush Says Policy Makers to Take `Appropriate Steps' (Update6)

    Bloomberg - Defaults have continued to rise even as the Fed has cut the benchmark interest rate five times since September. ``I believe that we're a resilient economy,'' Bush said. ``In the long run, I'm confident our economy will continue to grow because ...
    2008-03-14 12:10:00

  • The Fed's Job Gets Trickier

    BusinessWeek - Yet, many economists have resisted forecasting a 75-basis-point easing, vs. a 50-basis-point move, on the assumption that a more cautious interest-rate path from here would be more prudent.
    2008-03-14 12:38:00

  • Stocks Tumble on Bank’s Troubles

    New York Times - The closely watched Consumer Price Index stayed flat in February after a dip in energy prices, opening the door for more aggressive interest rate cuts by the Federal Reserve.
    2008-03-14 12:10:00

  • Mexico stocks, peso drop on US economy worries

    Reuters - Heightened expectations of a significant interest rate cut at the next meeting of the U.S. Federal Reserve on March 18 are making the spread between Mexican and U.S. bonds more attractive to investors, one bond trader said.
    2008-03-14 12:10:00

  • Harvard's Feldstein Says U.S. Economy in Recession (Update1)

    Bloomberg - The economy may not respond quickly to Federal Reserve interest-rate cuts, and a package of tax rebates and investment incentives will offer only a temporary boost, he said.
    2008-03-14 12:02:00

  • Montreal Exchange sees May 30 carbon-trade launch

    Reuters - The Montreal bourse, which runs Canada's market for interest rate, index and equity derivatives, plans to run the Montreal Climate Exchange as a joint venture with the Chicago Climate Exchange.
    2008-03-14 10:01:00

  • Inflation under control - for now

    CNN Money - NEW YORK (CNNMoney.com) -- Consumer prices held steady in February, with milder-than-expected inflation giving the Federal Reserve some leeway in its interest rate-cutting campaign.
    2008-03-14 07:09:00

  • HUD wants mortgage costs made clear to borrowers

    USA Today - Brokers receive the premiums for steering customers toward certain lenders although consumer advocates argue that the practice prevents consumers from getting the most competitive interest rate and loan terms on mortgages.
    2008-03-14 12:10:00

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