Mortgage and Financial News From 2007-9-14 Page 2

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• Times have gotten tougher for mortgage lending giant (Wisconsin State Journal)

  LOS ANGELES -- Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation 's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust. To survive, it 's been forced to borrow billions of ...
  2007-09-14 10:49:59

• Legislative bull's eye: Mortgage lenders, brokers (CNN Money)

  The subprime crisis has put lawmakers under pressure to do something not only to help homeowners who could lose their homes but also to nail the guys who created the mess.
  2007-09-14 09:56:00

• Countrywide caught in mortgage spiral (AP via Yahoo! News)

  Countrywide Financial Corp. grew from a two-man startup in 1969 to become the nation's leading mortgage lender by deftly riding out housing boom-and-bust cycles. This time around, however, the ride has been a lot rougher, leaving the company in a scramble to regain its footing as the housing market has turned from boom to bust.
  2007-09-14 03:51:56

• Fed cut to interest rates could bring consumers lower borrowing costs, stock rally (San Jose Mercury News)

  NEW YORK (AP) - Wall Street players aren't the only ones with a lot riding on whether the Federal Reserve cuts interest rates on Tuesday - Main Street could also see some pretty dramatic benefits.
  2007-09-14 02:23:01

• Fit interest-only loan term with holding period (Bankrate.com via Yahoo! Finance)

  Interest-only loan improves monthly cash flow of rental property, says Dr. Don.
  2007-09-14 03:00:00

• HSBC unit faces American lawsuit alleging racism in mortgage prices

  Times Online - ... higher mortgage rates to black people than to their white counterparts. Lawyers for Suyapa Allen are seeking the right to bring a class action against the bank for allegedly discriminating against black borrowers by offering more expensive home loans ...
  2007-09-14 02:41:00

• Hovnanian holding 3-day home sale this weekend

  Reuters - Higher interest rates for home buyers who bought at low introductory rates and a credit crunch spurred by rising defaults have swelled the supply of homes for sale. Dozens of U.S. mortgage lenders have curtailed lending this year as defaults soared ...
  2007-09-14 02:05:00

• Europe Rocked By Northern Rock

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... The sight of British mortgage lender Northern Rock going cap in hand to the Bank of ... Tuesday when the United States Federal Reserve decides on American interest rates ...
  2007-09-14 12:54:00

• Consumer Confidence Tumbles in September

  US News and World Report - Still many are counting on the Federal Reserve to cut interest rates next week. Such a move could give people and companies ... Credit problems in mortgage and other markets make it likely the worst housing slump in 16 years will persist well into 2008 ...
  2007-09-14 01:36:00

• Markets Shudder at Central Bank Bailout of Major British Lender

  Washington Post - Problems in the U.S. home mortgage market, where default rates have reached a record following a period of loose lending to buyers with suspect credit, have prompted thousands of layoffs in the industry and led to substantial losses at hedge funds ...
  2007-09-14 09:07:00

• Forget the Bank of England: Uncle Sam is calling the tune now

  Guardian Unlimited - That same day, Britain's two biggest mortgage lenders, Halifax and Abbey, announced they were increasing the rates on many of their tracker home loans. Both upped the rates by between 0.1% and 0.2% for new customers. Up until this week, the impact of ...
  2007-09-14 08:39:00

• Stocks Flat Ahead of Fed Meeting

  US News and World Report - Make Missoulian.com your home page Get Firefox! ... focused on the ramifications of the Federal Reserve's decision on interest rates ... England touched off concerns about the viral nature of problems in the U.S. mortgage ...
  2007-09-14 04:00:00

• Hyped home prices persist

  Palm Beach Post - That's where the market should be at, based on the fundamentals that we are looking at - population density, the ratio of home prices to incomes and mortgage rates." Global Insight economists try to explain home-price variations - the difference ...
  2007-09-14 09:22:00

• Dodge says he should have driven rates up 'harder'

  Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics World Americas ... Bank of Canada Governor David Dodge says he should have driven up interest rates ... to the disruption stemming from rising defaults on payments by U.S. subprime mortgage ...
  2007-09-14 02:48:00

• Bank of England aids big mortgage lender

  Los Angeles Times - ... Uneasy customers formed lines outside Britain's fifth-largest mortgage lender Friday ... Their mortgages are very competitive because they used money markets to get rates ... Selling a home without an agent comes with risks, rewards - Bank of England aids ...
  2007-09-14 05:18:00

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