Mortgage and Financial News From 2007-11-2 Page 8

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  • Dems urge faster response to mortgage mess

    MSNBC - Gwen Moore, D-Wis., said that she was troubled that mortgage lenders were moving too slowly to reach out to at-risk borrowers to start the process of refinancing mortgages. “What are you doing to use the bully pulpit to get institutions more on ...
    2007-11-02 11:41:00

  • Mortgage lenders boost savings rates

    Reuters UK - LONDON (Citywire) - The credit crunch is producing some cracking rates for savers as mortgage lenders, unable to borrow in the short term wholesale market, move to pick up retail deposits. Nationwide, Bradford & Bingley, Birmingham Midshires, Saga ...
    2007-11-02 10:51:00

  • Sector Snap: Mortgage Insurers (AP via Yahoo! Finance)

    Shares of mortgage insurers on Friday continued a plunge that has gone on almost uninterrupted since the mortgage crisis began unfolding earlier this year.
    2007-11-02 08:50:53

  • Key figures in mortgage fraud conspiracy plead guilty (Minneapolis-St. Paul Star Tribune)

    The principal players behind a giant mortgage fraud conspiracy that beset several southern Twin Cities suburbs and cast a pall over the area's housing market pleaded guilty to felony charges today in U.S. District Court. Michael Parish, 62, president and owner of Parish Marketing and Development Corp., admitted to constructing the wide-ranging conspiracy that bilked lenders on nearly 200 ...
    2007-11-02 02:32:26

  • H&R Block says lenders have reduced, terminated Option One credit lines again (The Kansas City Star)

    H&R Block Inc. today said lenders have again reduced or terminated their credit lines to its Option One Mortgage Corp. subprime mortgage lending unit, to now $825 million.
    2007-11-02 08:37:44

  • Lenders cut financing for Block mortgage unit (bizjournals.com via Yahoo! Finance)

    H&R Block Inc. said in filings Thursday that two warehouse financing lines for its Option One Mortgage Corp. were reduced in size and that two others terminated.
    2007-11-02 11:19:29

  • Mortgage lenders boost savings rates (Reuters.co.uk)

    LONDON (Citywire) - The credit crunch is producing some cracking rates for savers as mortgage lenders, unable to borrow in the short term wholesale market, move to pick up retail deposits.
    2007-11-02 11:09:45

  • Canadian Dollar Reaches Record as Local Job Growth Accelerates

    Bloomberg - The central bank on Oct. 16 left its main interest rate unchanged and cut its 2008 economic growth forecast, citing the drag on exports from a U.S. housing slowdown and a higher currency. The currency declined the most in two weeks ...
    2007-11-02 01:00:00

  • Desperate dollar plumbs depths

    Financial Times - The dollar plumbed fresh depths this week as a rate cut from the US Federal Reserve kicked away more yield support for the beleaguered currency. The Fed trimmed interest rates by 25 basis points to 4.5 per cent after its policy meeting on Wednesday ...
    2007-11-02 11:41:00

  • World markets slide following Wall Street losses on concerns about U.S ...

    San Diego Union-Tribune - LONDON – Stock markets in Europe and Asia dropped Friday, tracking earlier losses on Wall Street as investors worried about a possible end to U.S. interest rate cuts and a slowing American economy. The FTSE-100 index in London dropped 1 percent to ...
    2007-11-02 11:34:00

  • Latest credit crumble clashes with Fed view

    Reuters - The pronouncement accompanying this week's quarter percentage point interest rate cut contained a message for the markets: Unless the economy weakens notably, we're done easing policy for now. But traders don't seem to be listening. In fact, the ...
    2007-11-02 12:46:00

  • Loonie tops $1.07, hitting record

    Globe and Mail - The loonie hit a record Friday, jumping 2 full cents after a stronger-than-expected jobs report dimmed the odds of an interest-rate cut. The Canadian dollar, already the world's best-performing major currency this year, rose as high as $1.0717 Friday ...
    2007-11-02 12:10:00

  • Interest-rate cuts: a slow stimulus

    Christian Science Monitor - This feature requires a newer version of Macromedia Flash Player and javascript-enabled browser. Reporter Ron Scherer explains how an interest rate cut by the Federal Reserve benefits consumers. New York - Thanks to the Federal Reserve's interest ...
    2007-11-02 07:59:00

  • Fed Casts Shadow Over Year-End Rally

    CNBC - NEW YORK - Prospects for a year-end rally dimmed this past week right along with the chances of another interest rate cut, and that has investors wondering if the bull market can be saved. Investors enter November with some considerable doubts about ...
    2007-11-02 02:33:00

  • Wall St Week Ahead: For stocks, Fed chief in the spotlight

    Reuters - Last: NEW YORK, Nov 2 (Reuters) - Investors banking on more interest-rate cuts may get some clues about what comes next from Federal Reserve Chairman Ben Bernanke, who testifies before the Joint Economic Committee of Congress on Thursday. "Clearly ...
    2007-11-02 02:26:00

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