Mortgage and Financial News From 2008-2-17 Page 2

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• Congress looks into reverse mortgages as abuses begin to appear

  Palm Beach Post - ... greater the home value, the more cash that can be made available as a lump sum, monthly payout or line of credit. When reverse mortgage ... Bad practices may proliferate simply because the industry is expanding so rapidly. The total number of active ...
  2008-02-17 08:59:00

• Day of reckoning for subprime-hit banks

  Reuters - ... 2007 results and try to account for the full scale of the subprime-spawned credit ... were burned by the market turmoil that began with defaulting U.S. subprime mortgage ... Banks buried in bad debts have less leeway to lend to the consumers and ...
  2008-02-17 12:02:00

• What to do if you're about to lose your home

  News.com.au - According to Veda, the credit agency, there has been a 35 per cent increase in the ... Q ) I am struggling to meet my mortgage payments. What are my options? ( A ) There ... I think it is a combination of being keener to recoup bad debts and the ...
  2008-02-17 02:46:00

• CBA sends debt doctors in

  News.com.au - ... doctors into two troubled companies as the bank faces an escalation in bad debt. CBA has exposure to a number of businesses that have been hit hard by the global credit ... 6. Dollar firmer amid greenback weakness 7. Plundering super to pay the mortgage 8 ...
  2008-02-17 01:56:00

• Card Sharks

  Forbes - Then again, so were mortgage brokers. Fierce competition in the credit card business and a wave of huge mergers concentrated the industry in the hands of a few major players: Citigroup (nyse: C - news - people ), JPMorgan Chase (nyse ...
  2008-02-14 03:54:00

• National Rock

  Wall Street Journal - ... evolved yet again when the government announced yesterday that it would nationalize the stricken mortgage lender. The move is the least bad of ... back into the private sector as soon as it is right to do so," which presumably is as soon as credit ...
  2008-02-17 07:47:00

• Fair Isaac retooling its damaged FICO tool

  Minneapolis Star Tribune - ... are designed to measure an individual consumer's risk, to gauge the credit worthiness of pooled mortgage-backed securities. Greene calls that "a misapplication of the FICO score." For Fair Isaac, the criticism of its signature product comes at a bad ...
  2008-02-17 01:56:00

• Brown faces Northern Rock critics

  News.com.au - ... facing questions over its economic competence after nationalising Northern Rock, the beleaguered mortgage lender that fell victim to the global credit ... The government's decision was acknowledged in the British press today as probably "the least bad ...
  2008-02-17 07:11:00

• Now we will all feel pain of the credit crunch

  The Independent - Indeed, its business model – borrowing short term in the credit market to fund a rapid increase in its mortgage business – was much commented upon ... some banks to be more reckless but that is unfair on their prudent counterparts and setsa bad ...
  2008-02-17 02:54:00

• Mortgage News

  Colleyville Courier - Historic Low Rates From Top Lenders - No Obligation, No SSN Required & Bad Credit OK. http://Refinance.LeadSteps.com/ What Is A Mortgage Info Get Info on What Is A Mortgage from 14 search engines in 1. http://www.info.com/ Commercial Mortgage Education on ...
  2008-02-17 03:51:00

• From Foreclosure Signs to Auto Repo Lots

  Washington Post - But those with bad credit are facing rising rates and being forced to put more money down on cars. Some may not be able to get a credit card or auto loan as banks, spooked by the mortgage mess, have been reassessing the risk of making loans. "It's ...
  2008-02-17 09:06:00

• ANZ bank warns that 2008 earnings likely to be hurt by fallout from US ...

  International Herald Tribune - ... are likely to be hurt this fiscal year by fallout from the global tightening of credit. ANZ said it plans to take higher provisions for potential bad debts ... Australian banks do not have any direct U.S. subprime mortgage exposure, but traders said ANZ ...
  2008-02-17 06:28:00

• ANZ Drops as CEO Says Credit `Bloodbath' Cuts Profit (Update2)

  Bloomberg - The U.S. subprime mortgage collapse that's spread through credit markets may lead to $400 billion of write-offs from financial institutions around ... manage the equivalent of $500 million, including ANZ shares, at White Funds Management in Sydney. ``Bad ...
  2008-02-17 10:03:00

• Clinton Issues Economic Plan (The San Francisco Examiner)

  MILWAUKEE ( Map , News ) - Democrat Hillary Rodham Clinton's campaign released a 13-page blueprint for fixing the economy Monday, detailing the former first lady's plans to achieve universal health care, address the home foreclosure crisis and develop jobs for the middle class.
  2008-02-17 09:05:30

• From Foreclosure Signs to Auto Repo Lots (Washington Post)

  Reina Bolanos got a loan for her used Honda Odyssey in 2006 on what appeared to be favorable terms: $16,000 without a down payment. Though the 8 percent rate was high, Bank of America offered to spread the loan over six years to keep the monthly payments down.
  2008-02-17 09:25:04

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