Mortgage and Financial News From 2009-7-14 Page 01
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Mass. to let home buyers borrow on $8G tax credit - Boston Herald
Boston Herald General Economics Reporter Jay Fitzgerald has been a journalist and blogger for years. He's now the general economics reporter for the Boston Herald . M assachusetts thinks it’s found a faster way to get an $8,000 federal tax credit ...
2009-07-14 11:01:00 -
Business Briefs for July 15 - Richmond Times-Dispatch
MINNEAPOLIS -- The Department of Housing and Urban Development has awarded $9.7 million in grants in Virginia to quickly rehouse families who have no homes or prevent them from becoming homeless. The funding, provided through the economic stimulus ...
2009-07-14 11:01:00 -
Wells quietly sells $600 million in troubled subprime loans - Birmingham Business Journal
Wells Fargo sold $600 million in mostly non-performing subprime loans to Irvine, Calif.-based Arch Bay Capital , National Mortgage News reported, citing sources familiar with the sale. The industry publication said the loans sold for 35 cents on the ...
2009-07-14 05:32:00 -
Banking giants CBA and Westpac get tough on brokers - The Australian
THE nation's two biggest banks are rolling out schemes to deal with mortgage brokers, with the Commonwealth Bank's more onerous requirements causing distress among some brokers. Commonwealth, as revealed in The Australian yesterday, has written to ...
2009-07-14 07:55:00 -
Forensic loan audits - San Francisco Examiner
Homeowners struggling to make their mortgage payments, but who have not yet missed a payment, are now eligible to have their loans modified. However, these modifications are hard to get, as lenders see no reason to modify a loan that is not in ...
2009-07-14 03:52:00 -
AIG Sells Loans to Credit Suisse for as Much as $975 Million - Bloomberg
July 15 (Bloomberg) -- American International Group Inc. ’s consumer lender will receive as much as $975 million selling mortgage-backed certificates to Credit Suisse Group AG after losing access to its usual sources of funding. The loans have a ...
2009-07-14 10:54:00 -
Banking giants get tough on mortgage brokers - News.com.au
THE independence of mortgage brokers may be threatened by the big banks forcing them to write a minimum number of loans or face "reaccreditation" classes costing up to $500. At the same time, Westpac (wbc.ASX: Quote , News ) is rolling out a scheme ...
2009-07-14 10:11:00 -
The Victim Who Wasn't There - Baltimore City Paper
Baltimore City PaperThe Victim Who Wasn't ThereBaltimore City PaperHe appears to be part of a mortgage-fraud scheme that stretches across four states and involves a politically connected representative of New York's Sikh ...
2009-07-14 11:09:54 -
Past Is Prologue - Baltimore City Paper
Past Is PrologueBaltimore City PaperAnd here in Baltimore, the mortgage lender Wells Fargo is charged with steering black families into subprime loans before the collapse of the housing market ...
2009-07-14 11:09:56 -
Pennsylvanians rally for pay, support of arts - Tribune Review
Pennsylvanians rally for pay, support of artsTribune Review"You got a car payment. You got a mortgage payment," she said. Kearse said she isn't taking advantage of loans offered to state employees. "I'm qualified. ...and more »
2009-07-14 11:13:01 -
Inflation or Deflation? - Daily Reckoning - Australian Edition
Inflation or Deflation?Daily Reckoning - Australian EditionThe banks have gotten trillions in loans and guarantees. The feds have been trying to prop up households too. They recently approved 125% mortgage ...and more »
2009-07-14 11:21:01 -
Investors Say 'Tarnished' Fed Shouldn't Oversee Systemic Risk - Bloomberg
Investors Say 'Tarnished' Fed Shouldn't Oversee Systemic RiskBloombergThe debate on overhauling the regulations is occurring after a year of shocks on Wall Street sparked by the collapse of the subprime mortgage market and the ...
2009-07-14 11:22:38 -
County offers warning on advance fee scams - Tampa Bay Newspapers
County offers warning on advance fee scamsTampa Bay NewspapersMany of these loan offers are advertised to consumers through unsolicited e-mails offering mortgage refinancing, debt consolidation and elimination, ...
2009-07-14 11:26:33 -
US Tightens Its Derivatives Vise - Wall Street Journal Blogs
US Tightens Its Derivatives ViseWall Street Journal BlogsCredit-default swaps are effectively insurance contracts designed to protect investors against losses on bonds or loans. The contracts are now more often ...and more »
2009-07-14 11:34:45 -
Household loans grow most in 17 months in May - Korea Herald
Household loans grow most in 17 months in MayKorea HeraldSouth Korean lenders' household loans grew at the fastest clip in 17 months in May as mortgage lending rose sharply, the central bank said Wednesday, ...
2009-07-14 11:35:43