Mortgage and Financial News From 2008-1-22 Page 14

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  • Federal Rate Cut May Be Music To The Ears Of Some - CBS 4

    Federal Rate Cut May Be Music To The Ears Of SomeCBS 4, FL - 2 minutes agoThe economic changes have convinced some South Floridians to refinance their homes. "We saw this morning that rates are being lowered, so we want to take ...
    2008-01-22 08:12:37
  • Calif. lawmaker seeks to ban certain types of risky mortgages (San Francisco Chronicle)

    A state legislator on Wednesday will introduce a lending-regulation bill that seeks to mandate the obvious _ that people who want to buy a home can actually afford the mortgage, property taxes and insurance. The prevalence of exotic mortgages that put...
    2008-01-22 06:55:45
  • Fed tries to grease the economy's wheels (USA Today)

    Here's a look at how the Fed's action will affect different sectors of the economy:
    2008-01-22 07:07:40
  • Florida attorney general sues foreclosure rescue firm (Sun-Sentinel)

    Attorney General Bill McCollum has sued a South Florida-based foreclosure rescue company, alleging the firm defrauded dozens of homeowners, and is seeking legislation to strength protections for those facing foreclosure.
    2008-01-22 07:16:31
  • Lawmaker Proposes Ban On Risky "Designer" Mortgages (News10 Sacramento)

    A state lawmaker wants to ensure that borrowers can afford a mortgage, homeowners insurance and property taxes before lenders qualify them for home loans.
    2008-01-22 07:35:38
  • Fed's move reflects concern (USA Today)

    The Federal Reserve's biggest interest rate cut in 18 years Tuesday likely will lower some borrowing costs for consumers, but it is unlikely to be a panacea for all of the economy's ills and means that savers will face lower returns on their money.
    2008-01-22 07:56:12
  • Default notices jump by more than 100 percent in both Inland counties in fourth quarter (The Press-Enterprise)

    Foreclosures soared to new records in Riverside and San Bernardino counties in the last month of 2007, with an increasing number of homeowners hard-pressed by mortgages resetting at higher rates and declining home values.
    2008-01-22 08:06:46
  • Many local investors are anxious (Rocky Mountain News)

    Erik Davidson believes "irrational complacency" is giving way to "irrational despondency."
    2008-01-22 08:07:21
  • Subprime Bank Losses Reach $133 Billion, Led by Merrill: Table

    Bloomberg - ... writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans, at more than 20 of the world's largest banks and securities firms. The charges stem from the collapse of the U.S. subprime mortgage ...
    2008-01-22 11:50:00
  • Glum forecaster sees bad going to worse

    Wall Street Journal - Glum forecaster sees bad going to worse ... is threatened by three ugly bears," he said, predicting a meltdown in the subprime-mortgage market, rising oil prices and an end to cheap credit would ...
    2008-01-22 11:21:00
  • Bank of China faces losses

    Worldnews.com - Bank of America profit plunges Canada Dot Com Profits at the Bank of America fell 95 per cent in the latest quarter as the bank, which has a big Ottawa call centre, was hit hard by the U.S. credit crunch and bad mortgage loans. The bank ... ...
    2008-01-22 01:51:00
  • Stocks Pare Some Losses After Fed Cut

    Allentown Morning Call - And stocks have been falling steeply for months because of the ongoing housing, mortgage and credit crisis and its impact on the overall economy; many investors believe much more is needed to right the markets and the economy. The rate cut helped ...
    2008-01-22 12:25:00
  • UPDATE 2-Wachovia 4th-qtr profit sinks 98 pct

    Forbes - NEW YORK (Reuters) - Wachovia Corp (nyse: WB - news - people ), the fourth-largest U.S. bank, on Tuesday said quarterly profit fell a larger-than-expected 98 percent, hurt by a surge in bad loans and credit losses amid mortgage and capital markets ...
    2008-01-22 05:45:00
  • U.S. stocks pare losses after Fed cuts rates

    MSNBC - ... rate cut might not be enough to stoke an economy pummeled by soaring mortgage ... Last year, the prime worry was the tight credit markets; now, the bigger concern is ... Recession question now becoming ‘How bad?’
    2008-01-22 08:36:00
  • Federal Reserve's rate cut good for some home-loan borrowers, bad for ...

    CNBC - Experts say it is, especially for borrowers with ARMs and good credit who don't ... There's no guarantee, though, that mortgage rates will keep falling as the Fed cuts ... interest rates result in lower yields for savings accounts and CDs and are bad ...
    2008-01-22 01:51:00