Mortgage and Financial News From 2010-9-26 Page 01
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Opinion: Walking away from a mortgage might make sense - San Jose Mercury News
But nothing was sacred to the mortgagers who hawked predatory loans and the banks who sold loans to the highest bidder. In fact, Morgan Stanley, one of the major traders in mortgage-backed securities, recently walked away from several of its San Francisco ...
2010-09-26 01:56:00 -
Raters Ignored Proof of Unsafe Loans in Securities, Panel Is Told - New York Times
Wall Street was placing many of the troubled loans into bundles known as mortgage securities. “We went to the ratings agencies and said, ‘Wouldn’t this information be great for you to have as you assign tranche levels of risk?’ ” Mr. Johnson ...
2010-09-26 10:20:00 -
Government offers short refinancing for homes
Real estate experts say homeowners who take advantage of the program are likely to see their credit scores suffer.
2010-09-26 07:03:13 -
Labour to reveal state-backed mortgages plan
A RADICAL plan for state-backed mortgages to help struggling borrowers buy their own home is expected to be revealed by the Labour Party in the coming weeks.
2010-09-26 07:14:01 -
House prices fall in every region of UK...Even London succumbs to mortgage drought
The average cost of a home dropped by 0.4 per cent during September to £157,600, against the background of a mortgage famine and falling confidence.
2010-09-26 07:56:31 -
Thank God for Bailouts
Considering the Labor Government's record when it comes to government construction programs, we would like to issue the following warning: Do not go bush walking. You may be run over by a tractor laying fibre optic cable for the NBN trials.
2010-09-26 09:24:24 -
Raters Ignored Proof of Unsafe Loans, Panel Is Told
Agencies that assessed risk in mortgage pools dismissed evidence that many loans were dubious, according to testimony given to an investigative panel.
2010-09-26 10:35:25 -
Battle on mark-to-market rules gathers steam
Some are predicting the disappearance of jobs, many say they fear another banking crisis.
2010-09-26 10:53:32 -
Second loan turns into a foreclosure nightmare
Her attorneys say the lender imposed illegal fees and violated lending laws
2010-09-26 11:01:19 -
HP adjudged as best in agriculture sector: CM
Dharamshala, Sep 27 : Twelve per cent of Himachal Pradesh's budgetary provisions have been earmarked to strengthen the agriculture sector during the current financial year, Chief Minister Prem Kumar Dhumal said.
2010-09-26 11:03:37 -
Local News
SALEM — Blessed, humbled and thankful aptly described the feelings expressed by Scot and Missy McClelland for the place they now call home.
2010-09-26 11:04:59 -
CT Bank Profits, Bad Loans Both Up
More Connecticut banks are seeing profit growth — up 55 percent in the second quarter over the year ago period — but their loan portfolios can’t seem to shake the recession, data shows.
2010-09-26 11:13:45 -
JPMorgan Based Home Foreclosures on Faulty Court Documents, Lawyers Claim
JPMorgan Chase & Co . faces a legal challenge next month that could cast doubt on thousands of foreclosures after a mortgage executive at the bank said she didn’t verify documents used to justify home seizures.
2010-09-26 11:24:53 -
Foreclosure Flaws May Delay Recovery by Slowing Home-Price Fall
Howard Cohen hasn’t paid the loan on his Tukwila, Washington, home in a year, and when he heard that Ally Financial Inc.’s GMAC Mortgage unit was suspending foreclosure evictions in 23 states, it gave him hope.
2010-09-26 11:54:05 -
Citigroup, Massey, David Jones, Kagan, Enron, Goldman in Court News
Norges Bank, Norway’s central bank, sued Citigroup Inc. along with Chief Executive Officer Vikram Pandit and Chairman Richard Parsons over $835 million in losses in Citigroup stock and bonds.
2010-09-26 11:54:53