Mortgage and Financial News From 2008-7-14 Page 7
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Fannie-Freddie bailout puts taxpayers on hook (Inside Bay Area)
n Companies' shares sag on Wall Street as other banks falter and fall
2008-07-14 04:57:06 -
Customers swamp IndyMac to withdraw money (AP via Yahoo! Finance)
Worried customers with deposits in excess of insured limits flooded IndyMac Bank branches on Monday, demanding to withdraw as much money as they could or get answers about the fate of their funds.
2008-07-14 04:57:29 -
Unsafe as Houses - Times Online
“Opening doors” was once the slogan of the US Federal National Mortgage Association, colloquially known as Fannie Mae. American taxpayers now face the displeasing irony of playing an involuntary role in keeping the doors open at Fannie Mae and ...
2008-07-14 12:51:00 -
Investors in mortgage groups Freddie Mac and Fannie Mae take flight - Times Online
Shares in Freddie Mac and Fannie Mae continued their downward spiral yesterday as investors reacted to an emergency announcement from the US Government on Sunday night that could significantly dilute their holdings. Freddie and Fannie's shares were ...
2008-07-14 01:20:00 -
Dollar gains on U.S. mortgage finance rescue plan - Reuters
NEW YORK (Reuters) - The dollar clambered back from a near-record low against the euro on Monday after the United States announced an emergency plan to restore investor confidence in mortgage finance companies Fannie Mae (FNM.N: Quote , Profile ...
2008-07-14 02:38:00 -
HUD secretary details new mortgage assistance (The Kansas City Star)
Housing Secretary Steve Preston said Monday that a newly expanded federal mortgage program would help thousands of struggling borrowers get safer, more affordable loans.
2008-07-14 03:17:40 -
Why You Should You Care About The Mortgage Bailout (WOAI San Antonio)
You may make your mortgage payment each month to your local bank, but chances are good your mortgage is actually owned by Fannie Mae or Freddie Mac.
2008-07-14 03:19:55 -
Freddie Mac, Fannie May Fallout Affects Availability Of Home Loans (NBC4 Washington, D.C.)
The Federal Reserve and the Treasury Department's efforts to brace slumping mortgage giants Fannie Mae and Freddie Mac are affecting loans available to home buyers.
2008-07-14 03:20:38 -
Fed's plan to curb shady mortgage practices (INO News)
The Federal Reserve Monday adopted new rules to crack down on dubious home-lending practices. Here's a run down of some of the provisions.
2008-07-14 03:32:26 -
NYC trial begins for Haitian paramilitary leader (Miami Herald)
A former Haitian paramilitary leader once widely feared in his country was accused at trial Monday of becoming a common white-collar criminal once he fled to the United States.
2008-07-14 03:33:19 -
Spanish Bank Pays $2.6 Billion for British Lender (NYTimes.com via Yahoo! Finance)
Banco Santander, the largest Spanish bank, will pay about £1.3 billion, or $2.6 billion, to acquire the struggling British mortgage lender Alliance & Leicester.
2008-07-14 03:36:56 -
Move to Shore Up Fannie and Freddie Doesn’t Halt Fall in Shares (NYTimes.com via Yahoo! Finance)
Wall Street fell a day after the administration announced a plan to help restore confidence in the mortgage finance companies. But key Democratic leaders expressed support for the plan.
2008-07-14 03:36:56 -
Fed's war against shady home loans - CNN Money
NEW YORK (CNNMoney.com) -- The Federal Reserve unanimously approved new mortgage lending rules Monday in a crackdown on shady practices - particularly those involving subprime loans made to borrowers with weak credit. The agency made several ...
2008-07-14 01:27:00 -
World stocks mixed on U.S. mortgage plan - San Diego Union-Tribune
LONDON – World markets were mixed Monday as investors took in news of U.S. government moves to prop up ailing mortgage financiers Fannie Mae and Freddie Mac. European markets rose in early afternoon trading in the region on sentiment that ...
2008-07-14 06:53:00 -
Fed stiffens restrictions on mortgage lenders - Los Angeles Times
WASHINGTON -- The nation's central bank clamped down hard Monday on mortgage lenders, issuing new rules designed to curb the kind of shady practices that led to the subprime mortgage crisis. Among the new rules is a restriction on the use of the word ...
2008-07-14 12:01:00