Mortgage and Financial News From 2008-1-11 Page 76

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  • State accuses Cape Coral-based infomercial maker of using ... - Orlando Sentinel

    State accuses Cape Coral-based infomercial maker of using ...Orlando Sentinel, FL - 44 minutes ago"Some have been taken for everything they have and they're having problems paying their mortgage because they've spent their nest egg. ...
    2008-01-11 02:49:02
  • Northern Rock Sells Some Assets To JP Morgan for $4.42 Billion - Wall Street Journal

    Northern Rock Sells Some Assets To JP Morgan for $4.42 BillionWall Street Journal - 44 minutes agoBy RAGNHILD KJETLAND UK mortgage lender Northern Rock PLC said Friday it had agreed to sell a portfolio of mortgages for £2.25 billion ($4.42 billion) to JP ...
    2008-01-11 02:49:56
  • Rocks sells off equity release arm - Mortgage Introducer

    Rocks sells off equity release armMortgage Introducer, UK - 43 minutes agoRepresenting 2 per cent of its mortgage business, the portfolio's assets earned net interest income of £34 million during the twelve months to 30 June 2007. ...
    2008-01-11 02:50:13
  • Deflation Economic Time-bomb As US Moves Towards Recession - The Market Oracle

    Deflation Economic Time-bomb As US Moves Towards RecessionThe Market Oracle, UK - 24 minutes agoThe banks have tightened up their lending standards, and jumbo loans (loans over $417000) are nearly impossible to get. So, why doesn't Schiller believe ...
    2008-01-11 03:09:16
  • CHRONOLOGY-Troubles at UK mortgage lender Northern Rock - Reuters

    CHRONOLOGY-Troubles at UK mortgage lender Northern RockReuters - 17 minutes ago... a first step to help the troubled lender repay loans from the Bank of England. Northern Rock, Britain's fifth-largest mortgage lender at its height, ...
    2008-01-11 03:16:35
  • George Osborne: Brown has failed to prepare Britain for tough times - Conservatives.com

    George Osborne: Brown has failed to prepare Britain for tough timesConservatives.com, UK - 8 minutes agoThe crunch came as US mortgage banks found that rising interest rates meant many vulnerable borrowers could not afford to service their credit - and so ...
    2008-01-11 03:25:38
  • Another rate cut is pledged (Portsmouth Herald)

    WASHINGTON — Federal Reserve Chairman Ben Bernanke pledged Thursday to slash interest rates yet again to prevent housing and credit problems from plunging the country into a recession.
    2008-01-11 03:12:20
  • Stocks Rise on Potential Countrywide Buy (Seattle Times)

    A volatile Wall Street advanced Thursday for the second day in a row, as investors found renewed confidence in a report that Bank of America Corp. is close to buying struggling mortgage lender Countrywide Financial Corp.
    2008-01-11 03:13:46
  • Fed Ready to Cut Interest Rates Again (Seattle Times)

    Federal Reserve Chairman Ben Bernanke pledged Thursday to slash interest rates as needed to prevent housing and credit problems from plunging the country into a recession.
    2008-01-11 03:16:38
  • Feds Seem to Favor Countrywide Buyout (Seattle Times)

    Bank of America's anticipated proposal to rescue mortgage lender Countrywide Financial Corp. would also come as a relief to federal regulators.
    2008-01-11 03:17:45
  • 2ND UPDATE: Paragon Fall 50% On Rights Issue; Rock Plans Portfolio Sale (Nasdaq)

    LONDON (Dow Jones) -- Shares in specialist U.K. mortgage lender Paragon Group tumbled more than 50% Friday after the company revealed plans for an emergency rights issue.
    2008-01-11 03:21:09
  • Analysts: Bank Of America Bid For Countrywide Likely Would Get Government's OK (New London Day)

    Washington — A buyout of hobbled mortgage lender Countrywide Financial likely would be approved by regulators, analysts say, because otherwise the company could file for
    2008-01-11 03:25:59
  • Baltimore Sues Subprime Lender Over Race (Washington Post)

    The city of Baltimore yesterday sued a major national lender for engaging in what it describes as abusive practices that have created a foreclosure crisis in black neighborhoods and eroded city coffers.
    2008-01-11 03:27:02
  • E-Trade Pushes Restructuring Plan (Washington Post)

    NEW YORK -- Troubled discount brokerage E-Trade Financial Corp. said Wednesday it is restructuring to reduce risk on its balance sheet, in a series of moves that helped lift its shares off their all-time lows.
    2008-01-11 03:27:33
  • Text of Fed Chairman Bernanke's Speech (Washington Post)

    -- Text of prepared remarks for Federal Reserve Chairman Ben Bernanke's speech on Thursday, as provided by the Federal Reserve.
    2008-01-11 03:28:33