Mortgage and Financial News From 2007-10-23 Page 8

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  • Countrywide Financial launches a $16 billion refinancing plan

    Forbes - ... the company said that it launched a $16 billion program offering borrowers the option to refinance or modify loans facing adjustable-rate mortgage ... The content on this site, including news, quotes, data and other information, is provided by AFX News ...
    2007-10-23 12:07:00
  • A Record Year for Layoffs in Finance (BusinessWeek)

    Wall Street is hacking jobs in huge numbers due to the subprime mortgage crisis and resulting credit crunch. The purge may not be over yet
    2007-10-22 09:21:04
  • $16B From Countrywide To Modify Loans (WCVB Boston)

    The nation's largest mortgage lender will begin offering refinancing or modifications on $16 billion in loans whose interest rate is set to adjust by the end of 2008.
    2007-10-23 03:50:08
  • Housing Agency Asked to Up Portfolio Cap (AP via Yahoo! Finance)

    For months, U.S. lawmakers and home-buyer groups have privately urged federal housing regulators to loosen portfolio limits on mortgage financiers Fannie Mae and Freddie Mac, according to letters obtained by Dow Jones Newswires.
    2007-10-23 10:24:58
  • NASA Photo Of Southern California Fires (Bayinsider)

    Protect yourself against a car with inaccurate mileage. More Details Do your homework first! LendingTree has expert articles and mortgage calculators to help you find the right refinance loan. Complete our simple, secure online request and compare up to 4 offers. No fees, no obligation!
    2007-10-23 11:16:29
  • American Home Mortgage sues Bank of America for $25 million on loan ...

    CNBC - PHILADELPHIA - American Home Mortgage Investment Corp. is suing Bank of America Corp., alleging that it reneged on coverage of ... was one of four "swap" protectors, committed to making sure investors don't go unpaid because of changing interest rates or ...
    2007-10-23 01:40:00
  • Holiday shopping: Expect more deals

    CNN Money - According to the ICSC, personal income, a major factor in predicting spending rates, remains strong. However the embattled housing and mortgage markets, as well as higher energy prices, will cause consumers to tighten their purse strings. And ...
    2007-10-23 12:14:00
  • Costello warns banks against rates rises

    Australian Broadcasting Corp. - Mr Costello says the banks must not use the subprime mortgage collapse in the US as a reason to hike up rates. (File photo) (ABC) Federal Treasurer Peter Costello has warned the banks not to use the United States mortgage crisis as an excuse to lift ...
    2007-10-23 11:10:00
  • Countrywide offers to help with bad mortgages

    MSNBC - As subprime mortgages made from 2005 through the first half of 2007 defaulted at increasing rates, bonds backed by those mortgages began to lose value. More than 50 mortgage lenders have gone out of business this year. A seizure in the global credit ...
    2007-10-23 01:19:00
  • Lenders Slow to Rescue Failing Mortgages

    Forbes - Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. But as defaults and ...
    2007-10-23 02:23:00
  • U.S. lawmakers to mull subprime bankruptcy relief

    Reuters - Proponents of the reform say their plan can help control a growing wave of foreclosures as borrowers -- particularly subprime borrowers with damaged credit -- see their mortgage rates increase in coming months. In one scenario envisioned by Merrill ...
    2007-10-23 02:02:00
  • Costello puts banks on notice over rates

    News.com.au - BANKS have no justification for raising interest rates because of the US sub-prime mortgage crisis, Treasurer Peter Costello says. With a federal election in less than five weeks and an interest rate rise perhaps a fortnight away, Mr Costello has put ...
    2007-10-23 02:16:00
  • Lawmakers to mull subprime bankruptcy relief

    Washington Post - Proponents of the reform say their plan can help control a growing wave of foreclosures as borrowers -- particularly subprime borrowers with damaged credit -- see their mortgage rates increase in coming months. In one scenario envisioned by Merrill ...
    2007-10-23 02:02:00
  • Iraq war's creeping costs

    CNN Money - Iraq war's creeping costs Even at $415 billion, the war's pricetag doesn't threaten to derail the economy. But it's making a stealthy appearance in mortgage rates, fuel prices and other indicators.
    2007-10-23 02:23:00
  • Aussie mortgage rates jump

    News.com.au - MORTGAGE interest rates will rocket to 8.55 per cent next year - the highest since 2000 - according to property forecasters. The latest property market outlook, released yesterday by mortgage insurers PMI and analysts BIS Shrapnel, finds no relief ...
    2007-10-23 11:53:00