Mortgage and Financial News From 2007-12-3 Page 28
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Crash that 'won't happen here' looms large (Money Observer)
The four most dangerous words in financial markets are supposed to be "it's different this time." But another four - "it won't happen here" - come a close second.
2007-12-03 01:19:17 -
Japan's Nikkei Falls on Yen, Spending Report; Canon Drops (Bloomberg.com)
Dec. 3 (Bloomberg) -- Japan's Nikkei 225 Stock Average fell, after the yen strengthened versus the dollar and a report showed corporate investment in the country fell for a second quarter amid concerns global economic growth is slowing.
2007-12-02 11:06:22 -
Moody's May Cut Ratings on $105 Billion of SIVs as Values Sink (Bloomberg.com)
Dec. 3 (Bloomberg) -- Moody's Investors Service is preparing the biggest credit rating cuts since subprime mortgages contaminated the bond market, foreshadowing losses for investments that pay Florida teachers and money market funds.
2007-12-02 09:57:42 -
Paulson Crafts Subprime Deal to Prevent Second Bush Recession (Bloomberg.com)
Dec. 3 (Bloomberg) -- U.S. Treasury Secretary Henry Paulson, struggling to prevent a second recession in the presidency of George W. Bush, will today discuss plans to keep troubled subprime borrowers from losing their homes.
2007-12-02 10:57:40 -
Plan to freeze some subprime mortgage rates Bush administration ...
Stockhouse Canada - ... mortgage lenders and servicers, and financial institutions holding subprime mortgage-backed securities to freeze the interest ... their homes if the maturity date of their mortgages were extended or the interest rates remained at the teaser rates. Only ...
2007-12-02 10:09:00 -
Adelaide Bank to lift mortgage rate
West Online - ... higher funding charges, due to the global credit crunch, to its network of mortgage ... The confirmation of the interest rate rise, which takes effect on Tuesday, followed ... by rejecting a $2.5 billion takeover proposal from Bank of Queensland Ltd only ...
2007-12-02 11:06:00 -
Hong Kong Stocks Edge Higher
Houston Chronicle - ... the market hinges largely on the U.S. central bank's decision next week on interest ... Federal Reserve will not only cut rates when it meets Dec. 11, but that the move ... said local property market is expected to continue to be strong due falling mortgage ...
2007-12-03 02:55:00 -
Harry Gross | Error by title clerk costs new owner
Philadelphia Daily News - We agreed that I could purchase my sisters' share, so I applied for a mortgage. The ... the title clerk made several phone calls, and concluded that the only taxes due ... I have always reported the interest on the bonds that I cashed on my income tax ...
2007-12-02 11:56:00 -
U.K. Rate Vote Splits Economists the Most Since 2004 (Update2)
Bloomberg - Concern about losses from the U.S. subprime mortgage markets has made banks reluctant ... meets monthly before the bank's decision and makes its own call on where the interest rate should be set, favored a cut in a 5-4 vote. The central bank has only ...
2007-12-03 02:12:00 -
Euroshares open lower, taking breather, Vivendi deal in focus UPDATE
Forbes - ... trading, taking a breather after gains seen last week, with Thursday's interest-rate ... today, the Virgin consortium has not yet agreed on the funding for the mortgage bank ... News and its third party content providers for your personal information only ...
2007-12-03 01:43:00 -
Mortgage rescue plan no solution for many
Seattle Times - The freezes would apply only to borrowers current on their mortgage payments but unable to afford loans when they adjust to higher interest rates and perhaps dramatically higher monthly payments. The Federal Deposit Insurance Corp. (FDIC) estimates ...
2007-12-03 12:10:00 -
London midmorning: Footsie turns south (ShareCast)
LONDON (SHARECAST) - Early gains lasted only briefly as weaker banks and mining heavyweights overshadowed a better performance from the retail sector ahead of Thursday’s UK interest rate decision.
2007-12-03 03:23:59 -
Fraud Investigators Brace for Arsons from Subprime Mortgage Crisis (Insurance Journal)
Insurance fraud investigators are girding for an expected rash of arsons by cash-strapped homeowners trying to avoid foreclosures and ballooning monthly payments as the subprime mortgage crisis deepen
2007-12-02 10:15:51 -
Bank in dilemma on interest rates (FT.com via Yahoo! News)
It's make your mind up time for the nine people who set interest rates. When the members of the monetary policy committee file into the Bank of England's lofty parlours on Wednesday at the start of their two-day meeting, the vote promises to be a nail-biter.
2007-12-02 12:05:12 -
Senator Clinton to urge freeze on foreclosures: report
Reuters - ... home foreclosures and a five-year freeze on the rates of adjustable rate mortgages, the Wall Street Journal reported in its online edition. Sources told Reuters on Friday that the U.S. Treasury Department was finalizing a similar plan with mortgage ...
2007-12-02 10:23:00