Mortgage and Financial News From 2008-9-30 Page 9

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  • Home loan costs jump beyond 10% benchmark - Sophia Echo

    The annual percentage rate (APR), used to calculate total costs of contracting and servicing a loan, on Bulgaria’s lev-denominated housing loans exceeded the 10 per cent mark in August, an increase of 1.32 percentage points year-on-year, central ...
    2008-09-30 03:19:00

  • The Last Trillion-Dollar Commitment - American Enterprise Institute

    The government takeover of Fannie Mae and Freddie Mac was necessary because of their massive losses on more than $1 trillion of subprime and Alt-A investments, almost all of which were added to their single-family book of business between 2005 and ...
    2008-09-30 12:59:00

  • 18 Tough Questions (and Answers) About the Bailout - Time

    Traders work on of the floor of the New York Stock Exchange. Not entirely clear. Paulson and Bernanke described it as a way to jumpstart trading in mortgage securities for which there's no market at the moment, thus allowing banks to clean up their ...
    2008-09-30 12:30:00

  • I'm a bail-out sceptic - Guardian Unlimited

    Spend in haste; repent at leisure. With minds concentrated by fears of another 1930s-style Great Depression, America's political leaders developed, virtually overnight, a $700bn bail-out plan to resuscitate the country's rapidly deflating financial ...
    2008-09-30 02:25:00

  • Thomson Financial Europe AM at a glance share guide: Stocks, oil fall - Forbes

    STOCKS: Wall Street's worst fears came to pass Monday, when the government's financial rescue plan failed in Congress and stocks plunged precipitously -- hurtling the Dow Jones industrials down nearly 7 percent. The almost 780-point decline was the ...
    2008-09-29 10:47:00

  • Stocks rally as Bush pushes revived bailout - International Herald Tribune

    U.S. lawmakers and President George W. Bush eased pressure on financial markets on Tuesday by starting work to revive a $700 billion (388 billion pound) bailout plan to stem a credit crisis that has spread beyond Wall Street to claim more European ...
    2008-09-30 01:56:00

  • Michigan Rep. Miller demands that certain accounting practices be ... - Detroit Free Press

    WASHINGTON – U.S. Rep. Candice Miller is calling for the elimination or suspension of some current accounting practices as a way to improve the situation on Wall Street. One of nine Michigan members of Congress who voted against a $700-billion ...
    2008-09-30 12:30:00

  • US bail-out: What will happen if the deal is not implemented - Daily Telegraph

    But the Legislative Proposal for Treasury Authority to Purchase Mortgage-Related Assets now hangs in the balance, with no guarantee that it will win Congressional approval. So what happens if the biggest bailout in history is not implemented? The ...
    2008-09-30 10:43:00

  • No bailout, here's Plan B - CNN Money

    NEW YORK (CNNMoney) -- A day after the House's surprise defeat of a $700 billion financial rescue bill, talk is growing louder about alternative government steps that could help battered credit markets and stave off broader problems in the economy ...
    2008-09-30 01:20:00

  • For outraged public, bailout bill is a matter of distrust - Seattle Times

    House Minority Leader John Boehner, R-Ohio, center, and Rep. Adam Putnam, R-Fla., right, talk with reporters Monday after the financial bailout package failed in a House vote. TIM SLOAN / AFP/GETTY IMAGES House Speaker Nancy Pelosi, D-Calif., walks ...
    2008-09-30 02:25:00

  • Feds settle discrimination case with Alabama bank - MSN MoneyCentral

    MONTGOMERY, Ala. (AP) - The Justice Department has reached a settlement with Alabama-based First Lowndes Bank, which was accused of charging its black customers higher mortgage interest rates than white borrowers. Under the settlement announced ...
    2008-09-30 10:21:00

  • in Sub-Prime Loans As Fannie Mae CEO - Lucianne.com

    James A. Johnson--the man chosen by Sen. Barack Obama to lead his vice presidential search committee---served as head of the Federal National Mortgage Association, or ''Fannie Mae,'' from 1991 to 1998, receiving a reported $21 million in compensation ...
    2008-09-30 01:20:00

  • Institutional confidence is basic to recovery - Seattle Times

    REJECTION of a $700-billion bailout plan on Monday means the House of Representatives must immediately start over. Passage of a financial-rescue package that attempts to restore institutional confidence in the nation's lending and credit system is ...
    2008-09-30 02:25:00

  • Fitch Affirms Walter Mortgage Company's Subprime Servicer Rating at ... - Forbes

    This rating action reflects WMCo's seasoned management team, adequate loan administration procedures, and competent default management practices. WMCo is a wholly owned indirect subsidiary of Walter Industries, Inc. WMCo's servicing portfolio ...
    2008-09-30 10:50:00

  • We're back to the world of tight credit and miserly banks - Seattle Post Intelligencer

    The banking crisis is getting worse and it will go on getting worse until the authorities, principally in the United States but also in Britain and Europe, take full charge and start to help rebuild confidence in the world banking system. The longer ...
    2008-09-30 12:51:00

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