Mortgage and Financial News From 2007-12-12 Page 10

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  • Federal Reserve links with other central banks to deal with credit crunch (The Canadian Press via Yahoo! Canada News)

    WASHINGTON - The U.S. Federal Reserve announced Wednesday it is co-ordinating with other central banks, including the Bank of Canada, to deal with the global credit crunch that followed the U.S. subprime mortgage crisis.
    2007-12-12 06:51:00

  • US banks increase loss projections on mortgage credit crisis (EARTHtimes.org)

    New York - The country's second and fourth largest banks Wednesday delivered another serving of bad news on the US mortgage credit squeeze, increasing their loss projections for the second quarter. Bank of America Corporation head Kenneth Lewis said ...
    2007-12-12 09:56:20

  • Central banks pump emergency cash to ease credit crunch

    Monsters and Critics - ... to inject cash into the banking system to help fight the credit squeeze sparked by the meltdown in US subprime home mortgages ... The increase helped to reverse a slide in European stocks earlier in the day, which came in the wake of investor ...
    2007-12-12 08:28:00

  • A wealth of reflections

    Age - Reverse mortgages Reverse mortgages are one of the fastest-growing products on the market as retirees find themselves asset-rich and cash-poor. They are a superb tool when used in the right circumstances but I am concerned at reports that some older ...
    2007-12-12 05:07:00

  • Alternate ways to buy and sell a house

    A Current Affair - This option is available only to those who have paid off their mortgage, usually retirees. Click here for more information on reverse mortgages . Reverse auctions: This is where the roles of seller and buyer are reversed. In a normal auction, the ...
    2007-12-12 12:42:00

  • Senator May Drop Objections to FHA Bill

    Forbes - Tom Coburn, R-Okla., said his concerns about the legislation were "small" and primarily have to do with reverse mortgages. In an exchange with Sen. Charles Schumer, D-N.Y., on the floor of the Senate, Coburn suggested he may be amenable to limiting ...
    2007-12-12 10:37:00

  • Panel looks at reverse mortgages

    CNBC - WASHINGTON (AP) - On Wednesday, a Senate panel will examine the increasingly popular reverse mortgages and what lawmakers say are abusive sales practices that prey on senior citizens. The Senate Special Committee on Aging is holding a hearing set for ...
    2007-12-12 04:10:00

  • Economic gloom makes new election issue (AP via Yahoo! News)

    Americans have turned markedly gloomier about the economy in recent months, a shift that is reshaping a presidential campaign long dominated by the war in Iraq and national security concerns.
    2007-12-12 01:42:51

  • Central banks pump emergency cash to ease credit crunch - Summary (EARTHtimes.org)

    Frankfurt/Washington - The world's leading central banks said Wednesday they were launching further co-ordinated moves to inject cash into the banking system to help fight the credit squeeze sparked by the meltdown in US subprime home mortgages. The ...
    2007-12-12 08:42:48

  • Mortgage fix eluded lawmakers in 2001 (The Sacramento Bee)

    The state of California had a chance to curb lending practices that would later contribute to a crisis in subprime mortgages when it set out in 2001 to regulate so-called "predatory" loans.
    2007-12-12 12:13:57

  • Panel Looks at Reverse Mortgages (AP via Yahoo! Finance)

    On Wednesday, a Senate panel will examine the increasingly popular reverse mortgages and what lawmakers say are abusive sales practices that prey on senior citizens.
    2007-12-12 03:56:58

  • Stocks Jump as Fed Boosts Liquidity

    BusinessWeek - The Fed's first auction for $20 billion will take place on Dec. 17, with a second auction of up to $20 billion slated for ... to tight financial markets and are specifically targeting the Libor rate, on which most U.S. homeowner adjustable mortgages ...
    2007-12-12 11:55:00

  • Some of my favorite links from the past week:

    ESPN.com - But by the 90-second mark, they figured out what was going on and laughed in all the right places. In the end, Tyson was ... give a crap that the holidays are coming up and tens of thousands of writers are sweating out Christmas gifts and mortgages ...
    2007-12-12 01:14:00

  • Fed, ECB, Central Banks Work to Ease Credit Crunch (Update10)

    Bloomberg - Borrowing costs have climbed as mounting losses on securities linked to subprime mortgages caused lenders to conserve cash ... The second, on Dec. 20, will provide up to $20 billion. The central bank plans two more auctions, Jan. 14 and Jan. 28, with ...
    2007-12-12 12:45:00

  • European Stocks Drop; Barclays, SocGen, BHP Billiton Decline

    Bloomberg - Dec. 12 (Bloomberg) -- European stocks fell for a second day, led by banks and mining companies, after the U.S. Federal ... The index has fallen 7.1 percent from a 6 1/2-year high on June 1 on concern losses related to subprime mortgages in the U.S ...
    2007-12-12 05:57:00

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