Mortgage and Financial News From 2007-12-12 Page 8

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• Stocks close higher, investors unconvinced by moves to alleviate ...

  Edmonton Sun - RATES ... wake of multibillion-dollar losses from a rising tide of defaults on U.S. mortgage ... while the chief executive of rival Bank of America Corp. said he expects current ...
  2007-12-12 01:36:00

• DJ US MBA Mortgage Survey Table Of Current Interest Rates

  FXStreet.com - Copyright 2007 Dow Jones & Company, Inc. The Dow Jones content is the property of Dow Jones or its licensors, and is protected by copyright and other intellectual property laws. If you are an individual, you agree not to store, copy, reproduce ...
  2007-12-12 03:49:00

• Fed Historian Meltzer Says Greenspan Is `Too Easy on Himself'

  Bloomberg - ... Federal Reserve Chairman Alan Greenspan ignored warnings about the Fed's low interest rates that fueled real estate speculation and the current ... But he found all kinds of other reasons'' to blame for the housing and mortgage problems today ...
  2007-12-12 03:09:00

• Outlook For '08 Predictions: Housing, Mozilo And Buffett

  CNBC - 8) The Paulson plan to freeze certain subprime mortgage rates will have little effect on the current crisis in credit and will fail to stave off the bulk of foreclosures. We will also begin to hear and see more stories of borrowers trying to game the ...
  2007-12-12 09:54:00

• Credit Crisis Prompts Fed to Roll Back Rates Again

  New York Times - While the Fed has rarely changed interest rates between meetings in recent years ... will not be repaid, given the defaults and foreclosures spreading in the mortgage ... One Fed governor, Randall Kroszner, even declared on Nov. 16 that “the current ...
  2007-12-12 03:16:00

• Union Bank Offers New Two Step Mortgage Loan as an Attractive ...

  MSN MoneyCentral - ... to make interest only payments during this time to better manage their cash flow and potentially maximize their home ... We feel this product will have a fairly wide appeal as both a purchase and refinance loan option since borrowers only need to ...
  2007-12-12 03:37:00

• IPOs in Australia Fizzle as Losses in Uranium, Subprime Mount

  Bloomberg - Rams, which marketed home loans with the slogan ``No deposit? No worries!'' was forced to sell its brand and branch network to Westpac Banking Corp. in November after failing to refinance A$6.1 billion ($5.3 billion) of short-term loans. The lender ...
  2007-12-12 03:30:00

• Wife Of Christie Wilson's Killer Arrested

  CBS 13/CW31 Sacramento - The IRS arrested Jean Garcia yesterday on charges of filing false loan documents to refinance the Garcia's Auburn home, cashed out the equity in the home and then filed for bankruptcy. According to the court documents, the investigation into Jean ...
  2007-12-12 11:27:00

• Murderer's wife lied to raise refi money for his defense, feds say

  San Francisco Gate - District Court in Sacramento with wire fraud and money laundering for allegedly lying on two loan applications in December 2005 to refinance the home where she lives with her husband, Mario Garcia. A Sacramento County jury convicted Mario Garcia of ...
  2007-12-12 03:30:00

• Fort Pierce Soldier Killed In Iraq Comes Home (WPBF Palm Beach)

  The visitation and funeral for Captain Adam Snyder, who was killed in Iraq last week, will be held this week at his church outside Fort Pierce.
  2007-12-12 07:20:15

• Young Couple Slain In Detroit Home (ClickOnDetroit)

  A young couple is found slain in their home.
  2007-12-12 06:25:31

• WaMu Shares Fall on Outlook Worries

  Chicago Tribune - SEATTLE - Washington Mutual shares tumbled in early trading Tuesday amid concerns over its exposure to turmoil in the mortgage and credit markets. Shares of the nation's largest savings and loan slid more than 8 percent a day after it said it would ...
  2007-12-11 11:21:00

• Wall St indexes rise led by energy stocks

  Reuters - ... stocks outweighed concern that a Federal Reserve-led plan to dissolve the credit ... spark a rally in financial stocks, due to persistent anxiety about growing mortgage ... Fed yesterday didn't provide enough liquidity, but then you got a series of bad ...
  2007-12-12 01:57:00

• Citigroup's Pandit Vows `Front-to-Back' Cost Overhaul (Update4)

  Bloomberg - ... may cut costs and sell assets to shore up capital in the face of growing mortgage ... Citigroup's credit rating -- currently AA from Standard & Poor's -- is being ... The bank's Tier 1 capital -- a cushion against bad loans that's monitored by ...
  2007-12-12 02:26:00

• Central bankers take high-stakes economic gamble

  Guardian Unlimited - Banks have taken a $50 billion hit from bad loans, primarily tied to the U.S. subprime mortgage market, and analysts expect billions more in losses. ... The Fed's most recent survey of senior loan officers found credit terms tightening well beyond the ...
  2007-12-12 10:29:00

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