Mortgage and Financial News From 2008-6-30 Page 01
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Florida sues Countrywide - CNN Money
TALLAHASSEE, Fla. (AP) -- Countrywide Financial Corp., the nation's largest mortgage lender, was sued Monday by Florida Attorney General Bill McCollum for misleading and unfair trade practices. The 12-page suit also named Countrywide Chief Executive ...
2008-06-30 03:31:00 -
U.K. Real-Estate Stocks Post Worst Performance in Two Decades - Bloomberg
July 1 (Bloomberg) -- U.K. real-estate stocks had their worst performance in more than 20 years in the second quarter as property values dropped and rents for new office leases fell for the first time in more than four years. The FTSE-350 Real Estate ...
2008-06-30 09:50:00 -
Countrywide's Mozilo exits stage a fallen hero - Los Angeles Times
Angelo Mozilo will step down Tuesday as the head of Countrywide Financial Corp., the company he founded 39 years ago and built into the largest mortgage lender in the U.S. A victim of the mortgage meltdown, Countrywide is being acquired by Bank of ...
2008-06-30 08:17:00 -
Brokers stay neutral on Babcock - News.com.au
BABCOCK & Brown Ltd (B&B) should reap enough from the planned sale of wind power assets to pay down debt and meet its calendar 2008 earnings guidance, a brokerage said. B&B (bnb.ASX: Quote , News ) yesterday agreed with its lenders to reduce its ...
2008-06-30 08:17:00 -
The Obamas and their Mortgage - American Thinker
Sweetheart mortgage loans to Senators are much in the news of late , with calls for increased scrutiny of the solons' dealings with their mortgage lenders. In this spirit, I took a look at some of the publicly available information on Senator and Mrs ...
2008-06-30 09:57:00 -
Malibu investors left high and dry - Los Angeles Times
Investors put up $6.4 million for loans to build on parcels in Malibu, including this one on Corral Canyon Drive. The lots, however, may have been undevelopable and the investors are wondering where their money went. 'Hard-money' lenders are trying ...
2008-06-30 09:57:00 -
Australia's Mortgage-Backed Bond Sales Plunge to Record Low - Bloomberg
July 1 (Bloomberg) -- Australian sales of bonds backed by mortgages slumped to a record low in the first half as the fallout from the U.S. housing market collapse reduced demand for the assets and issuers were forced to pay higher yields. Companies ...
2008-06-30 10:26:00 -
Ask the Biz Brain - Newark Star-Ledger
It's typical for short-term CD rates to be less than longer-term deposits. Savers are willing to give up some yield to have a shorter maturity, or conversely require a higher yield to invest in the longer-term CD. Currently, however, CD rates are ...
2008-06-28 05:56:00 -
Canada boasts more millionaires - Windsor Star
A soaring number of Canadian families are now worth more than $1 million, a leap that is changing notions of wealth and what it means to be a millionaire in this country today. By 2005, 1.1 million families were worth $1 million or more -- that is ...
2008-06-30 12:43:00 -
BIS: Global Economy May Be Close To "Tipping Point" - FXStreet.com
BASEL -(Dow Jones)- The global economy may be close to a "tipping point" that could see it enter a slowdown so severe that it transforms the current period of rising inflation into a period of falling prices, the Bank for International Settlements ...
2008-06-30 03:13:00 -
Safe picks for CD returns - The Daily Advertiser
With a conventional certificate of deposit, you receive a set interest rate for a specific period, typically three months to five years. As long as you don't take your money out before the CD matures, you get back your principal and all the interest ...
2008-06-30 12:29:00 -
Bank rates - Detroit Free Press
Major Michigan financial institutions were surveyed last week to determine the interest rates they charge for loans, and APYs they pay for savings deposits. Rates were quoted as of Friday. APYs on deposit accounts are based on the minimum amount to ...
2008-06-29 12:01:00 -
Sarkozy in combative mood as France takes the EU helm - Hindustan Times
President Nicolas Sarkozy was in combative mood as France assumed leadership of the European Union, criticizing the bloc's trade chief and warning Europe's central bank against hiking interest rates. Some analysts have questioned whether Sarkozy's ...
2008-06-30 08:10:00 -
Mortgage ruling could shock U.S. banking industry - Guardian Unlimited
LOS ANGELES, June 30 (Reuters) - A lawsuit filed by a Wisconsin couple against their mortgage lender could have major implications for banks should a U.S. appeals court agree that borrowers can cancel their loans en masse when their lenders violate a ...
2008-06-30 11:49:00 -
Wachovia's Pick-a-Pay Pullback (BusinessWeek)
The bank takes away its minimum payment feature on mortgages, a clear sign that a further surge in defaults is inevitable
2008-06-30 05:13:24