Mortgage and Financial News From 2007-9-15 Page 15
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Tough words on mortgage fraud
Rocky Mountain News - Home buyers and owners refinancing mortgages are increasingly finding at the closings that their lender isn't honoring the deal they thought they had locked up. Throw in the record levels of foreclosures. Colorado's General Assembly this year passed ...
2007-09-14 10:55:00 -
Sterling Hit By Northern Rock Crisis
FXStreet.com - The sterling fell sharply after the Bank of England provide an unspecified amount of financial support to UK¡¯s fourth largest home mortgage lender, Northern Rock, which suffered losses from recent rising lending rates sparked by US subprime crunch ...
2007-09-15 02:22:00 -
Number of 'short' home sales is on rise
Nashville Tennessean - The only hitch: she had to wait more than five months for a bank to approve her offer. Minor bought a condo in what is known as a "short sale," where the lender holding a mortgage in default agrees to sell the home for less than what is owed, all to ...
2007-09-14 11:59:00 -
U.K. lender gets emergency aid
Hampton Roads Daily Press - The Bank of England provided emergency funding to U.K. mortgage lender Northern Rock PLC on Friday after the lender, citing the ... Home > Business > Business
2007-09-15 01:32:00 -
American Home stops using public relations firm
Newsday - Melville-based American Home Mortgage has decided to stop paying a high-priced crisis communications firm that creditors had objected to as "a waste," a lawyer for the bankrupt lender's committee of unsecured creditors said Friday. "Our understanding ...
2007-09-14 11:52:00 -
European Stocks Advance This Week; Telefonica, Veolia Increase
Bloomberg - Bank of Ireland Plc, the country's biggest mortgage lender, slid 7.1 percent. ``We would still shy away from financials,'' said Franz Wenzel, deputy director of investment strategy at Axa Investment Managers in Paris. Axa Investment Managers ...
2007-09-15 12:49:00 -
Pound Posts Weekly Drop as Northern Rock Stokes Market Concern
Bloomberg - Northern Rock, the U.K.'s third-biggest mortgage lender, gets a higher proportion of its funding from the money markets than ... European Bonds Decline Amid Central Bank Pledges on Liquidity, Inflation Northern Rock, U.K. Home Lender, Gets ...
2007-09-15 02:30:00 -
Ailing lender's checks bounce
Baltimore Sun - Checks sent out by the troubled American Home Mortgage Investment Corp. to pay the property taxes of more than 70 homeowners in the Baltimore metropolitan area have bounced, local officials said yesterday. Baltimore City received bad checks for 53 ...
2007-09-15 03:48:00 -
British mortgage lender hit by panic withdrawals (AFP via Yahoo! News)
Anxious customers of bank Northern Rock rushed to withdraw their savings on Friday, forming queues in front of branches after the lender was bailed out by the Bank of England.
2007-09-14 08:46:34 -
Mortgage lender boosts borrowing ability by $12B (The Record Searchlight)
CALABASAS (AP) -- Countrywide Financial Corp. boosted its borrowing capacity by $12 billion as the mortgage lender struggles to weather the slowdown in the housing market, the company said Thursday.
2007-09-14 07:35:07 -
Bank of England tries to stop a run on mortgage bank (USA Today)
Britain's financial authorities stepped in to rescue mortgage lender Northern Rock on Friday as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks. U.K. stocks sank on the news.
2007-09-14 01:23:57 -
BoE props up wounded mortgage lender (AAP via Yahoo!7 News)
Britain's financial authorities have stepped in to rescue mortgage lender Northern Rock as the group, fell victim to the sharp rise in borrowing costs.
2007-09-14 02:21:11 -
Britain bails out mortgage lender Northern Rock (Gulf Times)
LONDON: Britain’s financial authorities stepped in to rescue mortgage lender Northern Rock yesterday as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks.
2007-09-14 11:24:39 -
China takes to card culture
The Australian - Penetration rates remain well below those in comparable societies such as Taiwan and Hong Kong, leaving huge potential for ... mean 94 per cent of credit cardholders still pay off the balance of their cards before they have to make any interest payments ...
2007-09-14 08:25:00 -
Asian markets advance; Nikkei jumps nearly 2 percent, HK hits record
International Herald Tribune - TOKYO : Asian markets advanced Friday, buoyed by overnight gains on Wall Street amid hopes that the U.S. Federal Reserve will cut interest rates next week. Hong Kong soared to its third straight record close. In Tokyo, the benchmark Nikkei 225 index ...
2007-09-13 05:55:00