Mortgage and Financial News From 2008-12-12 Page 01
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BANKS URGED TO PASS ON INTEREST CUT - Daily Express
Pressure is mounting on banks to pass on the full benefits of the interest rate cut to struggling homeowners and businesses. The Government is urging all banks and building societies to help their customers after only a handful of lenders said they ...
2008-12-04 05:57:00 -
Fair play to card holders - Guardian Unlimited
Credit card companies this week pledged to end the practice of imposing overnight interest hikes on customers. Following warnings from the government, they agreed a new set of fair principles. The move follows a credit card summit held by consumer ...
2008-12-12 05:54:00 -
Money managers brace for unorthodox Fed - Khaleej Times
NEW YORK – The U.S. Federal Reserve will stretch the boundaries of monetary policy to shore up the economy but a direct purchase of equities is unlikely, money managers told the Reuters Investment Outlook Summit this week. The Federal Open Market ...
2008-12-12 09:36:00 -
Home loan package to be finalised next week - Business Standard
Bankers met in Delhi yesterday to discuss the package. “There are many norms and details including fiscal support that need to be fine-tuned. The government is working on them and a detailed scheme will be ready early next week,” a senior Indian ...
2008-12-12 09:58:00 -
Police probe loan broker's actions - Miami Herald
After years of writing millions of dollars in mortgages based on bogus information, Homestead broker Yvette Valdes is under investigation by the county's fraud task force. Miami-Dade detectives said they will start examining Valdes' records, a day ...
2008-12-09 01:59:00 -
Surjit S Bhalla: Defining Moments - Or Getting It - Business Standard
It is a relief that both the people and the government get it. The people were first bombarded by the terrorists, and closely following, the most irresponsible and just plain bad reporting by the media. When will it be the case that anchors, and TV ...
2008-12-12 09:58:00 -
Mortgage fraud gets loan officer 5 years in prison - Statesman Journal
PORTLAND — A former loan officer has been sentenced to more than 5 years in federal prison for his role in a mortgage fraud scheme that prosecutors say involved nearly 70 different properties. A federal judge also ordered 50-year-old Marty Ray ...
2008-12-08 03:21:00 -
ECB confident it has power to fight downturn - Financial Times
The European Central Bank could deploy exceptional monetary measures even if interest rates fell to zero, a senior policymaker has argued, indicating that the ECB feels it still has plenty of ammunition to fight the economic downturn. Athanasios ...
2008-12-12 07:56:00 -
Homeowners fighting foreclosure are new victims of fraud - Fort Lauderdale Sun-Sentinel
South Florida's home prices have gone south, but mortgage fraud hasn't. Law enforcement and corporate officials alike are bracing for a new wave of cases as the market falters. As scores of loans go bad, some Florida legislators back a bill that ...
2008-12-08 11:50:00 -
Lower Sibor attracts buyers - Straits Times
INSTALMENTS for many home loan borrowers are set to fall after the all-important interest rate at which banks lend funds to one another nosedived to about 0.9 per cent this month. Many home loan packages are pegged to this rate - known as the three ...
2008-12-12 06:16:00 -
Base rate cut takes its toll - Guardian Unlimited
Nationwide this week launched a new online savings account paying a slightly higher rate of interest than its popular e-Savings offering, but with limited withdrawals. Those opening an e-Savings Plus internet-only account will be rewarded with an ...
2008-12-12 05:54:00 -
New Bubble, Same Old Frauds (Forbes)
Enron and Worldcom, Madoff and Dreier. Is anyone really surprised?
2008-12-12 03:10:55 -
US Attorney's Office charge five locals in mortgage fraud (WWAY 3 Wilmington)
Submitted by WWAY on 12 December 2008 - 5:35pm. READ MORE: The US Attorney's Office is charging five local people in connection to mortgage fraud.
2008-12-12 03:39:29 -
Former UK Player Accused Of Mortgage Fraud (The Kentucky Post)
HOUSTON (AP) - Former Kentucky basketball player Dirk Minniefield has been charged in an alleged $10 million mortgage scheme in the Houston area. The 47-year-old former NBA player was arrested Tuesday at his home by FBI agents after a federal indictment was unsealed.
2008-12-12 03:50:35 -
Rocky Session Ends With Narrow Gains (Forbes)
Wall Street finished in the black for the week despite automaker fears.
2008-12-12 04:11:57