Mortgage and Financial News From 2007-12-23 Page 7
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Sarkozy Gears Up for Labor Rehaul
Philadelphia Inquirer - An income tax credit has also been introduced for new mortgage-holders. New tax breaks and financing initiatives have been introduced to encourage small companies, and businesses of all sizes are hailing plans to raise a tax credit for research and ...
2007-12-23 12:18:00 -
AP Business NewsBrief at 3:06 p.m. EST
CNBC - Scripps recently announced plans to split into two companies, with current CEO Kenneth Lowe to head the new Scripps Networks Interactive. Gov't Tries to Contain Mortgage Crisis news://newsclip.ap.org/D8TNB5JO0@news.ap.org WASHINGTON (AP) _ After a slow ...
2007-12-23 12:11:00 -
Enforcement of mortgage rules spotty
Wichita Eagle - Spottily regulated mortgage brokers and non-bank lenders got a pass from companies that securitized loans and sold them. No one was accountable anywhere along the investment chain, yet everyone profited, for a while. Legislation passed by the House of ...
2007-12-23 08:43:00 -
Map for success
Akron Beacon Journal - His first deal came quickly, boosted by a law that had been passed requiring banks and mortgage companies to take out flood insurance for at-risk properties before selling those mortgages to another lender. Overnight, the companies responsible for ...
2007-12-23 11:57:00 -
Sales of New Houses in U.S. Probably Fell: U.S. Economy Preview
Bloomberg - Weak home construction is rippling across the economy, reducing demand for housing materials, appliances and furniture, while also weakening job growth as builders, mortgage companies and manufacturers reduce payrolls. Another report from ...
2007-12-23 06:49:00 -
Scripps Executive Expects Growth
Chicago Tribune - Scripps recently announced plans to split into two companies, with current CEO Kenneth Lowe to head the new Scripps Networks Interactive. E.W. Scripps, to be headed by Boehne, will include newspapers in 17 U.S. markets and 10 broadcast television ...
2007-12-23 12:04:00 -
Washington's Mortgage Crisis Debate (Time Magazine)
2007-12-23 10:03:36 -
Gov't Tries to Contain Mortgage Crisis (AP via Yahoo! Malaysia News)
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year.
2007-12-23 11:08:00 -
Congress mulling ways to spur weak U.S. economy
Guardian Unlimited - The administration helped broker a mortgage industry plan to temporarily freeze rates on some mortgages facing resets in coming years, but critics have said it is too little, too late.
2007-12-23 07:39:00 -
Variable-rate mortgage staggers veteran on fixed income
Denver Post - I found Lawrence Garza crying in the kitchen of his empty home at 5560 S. Windermere St. in Littleton. Garza, 61, said his cousin's husband, the mortgage broker, had put him into an adjustable-rate mortgage in 2004. Garza remembers signing some of ...
2007-12-21 03:55:00 -
Late payment
Raleigh News & Observer - For example, institutions still can pay a mortgage broker bonuses for signing up borrowers for higher interest loans even though the borrowers qualify for less expensive ones. Called yield-spread premiums, these kickbacks, for that's what they are ...
2007-12-23 08:51:00 -
Daily News finds deadbeat dad
New York Daily News - In 2000, King, a wealthy Dallas mortgage broker, was jailed under a rarely used federal law that criminalizes deadbeat parents who skip states to avoid paying for a year or more than $5,000. Only then did King fork over $170,000 for Nathalie. A year ...
2007-12-22 11:39:00 -
Elder abuse a hidden national epidemic
Oakland Tribune - She leaves the wheelchair-bound senior alone in a house full of rats while she goes on a $75,000 shopping spree — buying herself a champagne-colored Hummer. After her arrest, she gets a mortgage broker to bring her loan documents in jail so she ...
2007-12-23 10:38:00 -
Senate offers new hope for struggling homeowners
Daily Pilot - Skeens, head broker at Carteret Mortgage Corp. in Waldorf, Md., said that the FHA is far more lenient on credit history issues than any of its competitors and that it routinely funds applicants who have prior bankruptcies and foreclosures With a zero ...
2007-12-23 11:49:00 -
Clicking the Way to Mortgage Savings
New York Times - ... got around to tightening mortgage lending standards, hoping to eliminate some of the practices that have made borrowing to buy a home so confounding and costly. Many of the Fed’s changes make sense, especially those that require hidden broker fees ...
2007-12-23 11:42:00