Mortgage and Financial News From 2007-12-19 Page 12

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  • Fed passes reforms to combat subprime mortgage crisis (The Christian Science Monitor via Yahoo! News)

    The federal regulatory process to fix some of the worst mortgage abuses is now moving ahead with greater speed.
    2007-12-19 01:00:00

  • Fed Moves to Block Shady Mortgage Practices (Jefferson City News Tribune)

    The Federal Reserve is looking at a plan that seeks to protect borrowers from shady mortgage practices. The proposal from Fed staff members includes barring lenders from making loans to people without verification of income.
    2007-12-19 10:11:02

  • Fed loans banks $20 billion (AP via Yahoo! News)

    Cash-strapped banks took the Federal Reserve up on its offer of $20 billion in short-term loans to help them overcome credit problems, but the interest rate wasn't as low as some had hoped.
    2007-12-19 03:14:22

  • Fed tries to curb excesses in loans (Boston Globe)

    The Federal Reserve moved yesterday to limit mortgage industry practices that led to an explosion in foreclosures, including paying bonuses to brokers for selling loans with higher interest rates and charging penalty fees to borrowers for refinancing at lower rates.
    2007-12-19 12:50:17

  • U.S. Stocks Fall, Led by Retailers, Railroads; Target Slumps

    Bloomberg - Morgan Stanley wrote down its subprime-infected mortgage holdings by a greater-than ... Falling interest rates signaled that actions by central banks in Europe and North ... offered rate, or Euribor, dropped 0.07 percentage point to 4.81 percent, the lowest ...
    2007-12-19 02:25:00

  • Sallie Shares Plunge After CEO Talks

    Forbes - ... are mounting on student loans, while credit-market tremors similar to those linked to the mortgage ... Standard & Poor's rates the company's debt 'BBB+,' the third-lowest investment-grade rating. Lord promised more details at an investor meeting in ...
    2007-12-19 02:39:00

  • Sallie Mae Posts Record Drop as Lord Lacks Details (Update5)

    Bloomberg - ... the biggest since the company went public in 1983, left the stock at its lowest ... Meanwhile, the collapse of the subprime-mortgage market has driven up the cost of ... Standard & Poor's rates the senior unsecured debt at Baa1, three levels above ...
    2007-12-19 02:32:00

  • State housing market dips again: November sales volume drops 15.4 ...

    Patriot Ledger - ... market continued to struggle in November, with home sales dropping to their lowest ... home buyers, said the Federal Reserve’s efforts to reduce interest rates should ... and you’ve priced it right, you still have to fight the subprime (mortgage ...
    2007-12-19 07:37:00

  • Msnbc panel sees slow growth but no recession

    MSNBC - Auto sales slumped in November, and some automakers and analysts predict sales in 2008 could drop to their lowest level ... By freezing adjustable rates for five years, the plan simply postpones the problem that will hit the economy when mortgage rates ...
    2007-12-19 02:25:00

  • Yen Rises Against Euro on Bets Subprime Losses Will Deepen

    Bloomberg - ... 19 (Bloomberg) -- The yen rose against the euro on speculation that subprime mortgage ... England's December meeting showed policy makers voted 9-0 to reduce interest rates ... euro fell against the dollar after German business confidence dropped to the lowest ...
    2007-12-19 08:48:00

  • Trichet Signals No Room to Cut Rates; German Confidence Drops

    Bloomberg - Trichet Signals No Room to Cut Rates; German Confidence Drops By Gabi Thesing Dec ... prevent a cut in borrowing costs as German business confidence fell to the lowest ... Losses stemming from subprime mortgage foreclosures will probably reach $300 billion ...
    2007-12-19 04:45:00

  • Asia Day Ahead: S&P Lowers Outlook on Ambac, MBIA (Update1)

    Bloomberg - ... against the euro, pound and Australian dollar on speculation that subprime mortgage ... signaled faster inflation will prevent policy makers from cutting interest rates ... The Ifo research institute said its business climate index dropped to the lowest in ...
    2007-12-19 01:49:00

  • Pound Falls to Below $2 on Speculation BOE to Add to Rate Cut

    Bloomberg - ... three months on speculation the Bank of England will keep cutting interest rates ... time in two years on Dec. 6 to prevent the collapse of the U.S. subprime-mortgage ... The pound fell to $1.9952, the lowest since Sept. 20, and traded at $1.9980 at 3:35 ...
    2007-12-19 12:59:00

  • Yen May Extend Gains Versus Euro on Concern About Credit Losses

    Bloomberg - ... its gains against the euro and pound as speculation increased that subprime mortgage ... The Bank of Japan will keep the lowest borrowing costs among industrialized nations ... get funds in a country with low borrowing costs and buy assets where rates are ...
    2007-12-19 02:17:00

  • Yen Rises Versus Euro, Pound on Concern Over Subprime Losses

    Bloomberg - ... against the euro, pound and Australian dollar on speculation that subprime mortgage ... England's December meeting showed policy makers voted 9-0 to reduce interest rates ... the dollar started today after German business confidence dropped to the lowest in ...
    2007-12-19 01:49:00

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