Mortgage and Financial News From 2007-10-24 Page 22
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Countrywide to offer relief on some loans
Fort Worth Star-Telegram - On Tuesday, the company said it will discuss possible loan changes with borrowers who are current on loans but whose interest rates will automatically reset at a higher level soon. The lender said it intends to refinance about $10 billion in loans ...
2007-10-24 02:33:00 -
Eurozone growth loses momentum, says PMI
Financial Times - However, Mr Weber's views do not appear to be widely shared among ECB members – reinforcing expectations that ECB interest rates will remain at the current 4 per cent for some time. The purchasing managers' indices are regarded as good forward ...
2007-10-24 01:58:00 -
Lenders pressured to help homeowners (The Plain Dealer)
Los Angeles- Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday that it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008.
2007-10-24 01:55:01 -
Barometer: Interest rates knock Gauteng economy (Mail and Guardian)
The Gauteng economy is slowing down as several industries experience a drop in business-activity levels, said the Gauteng Business Barometer (GBB). Spokesperson Mike Schüssler said the GBB for September dipped by 7% to 140 index points when compared with the same month last year.
2007-10-23 07:40:31 -
Eurozone growth loses momentum , says PMI (FT.com via Yahoo! News)
Eurozone economic growth has lost further momentum this month, according to a closely-watched survey that may reinforce the case for the European Central Bank keeping interest rates firmly on hold.
2007-10-24 02:05:24 -
Rising interest rates rattling European real estate sector - S&P (Sharewatch)
MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said European real estate sector has begun to rattle under rising interest rates and the recent financial market turmoil.
2007-10-23 09:32:48 -
VNBA calls for further cuts of deposit interest rates (Vietnam Net)
VietNamNet Bridge – Commercial banks, tired of the interest rate race, have lowered interest rates on VND deposits over the past month. However, the Vietnam Banking Association (VNBA) is still calling for further cuts as the current rates are higher than the ones banks promised to apply in April.
2007-10-23 06:38:19 -
UPDATED: Delaware mortgage woes rise
Delaware Online - A "Lender Foreclosure Home Acution!" sign sits in front of a home for sale in Spring Valley, Calif., earlier this month. Bloomberg News/JACK SMITH This article originally said the value of 552 loans expected to go into foreclosure is $660 million ...
2007-10-23 01:40:00 -
Hub group, Countrywide in deal
Boston Globe - Boston housing activist Bruce Marks has persuaded Countrywide Financial Corp. , the nation's largest mortgage lender, to let his ... Among the early beneficiaries was Dina Allen, who was on course to lose her Dorchester home. Allen makes about $4,700 a ...
2007-10-24 12:25:00 -
Asian Stocks Drop on Merrill Lynch Profit Concern, Led by Canon
Bloomberg - ... add $2.5 billion more in writedowns in the wake of the U.S. subprime mortgage crisis. ... lenders lower on concern more losses related to investments backed by U.S. home ... SinoPac Financial Holdings Co., a Taipei-based lender, fell 1 percent to NT$14.6 ...
2007-10-24 03:02:00 -
Countrywide, Critic Join to Help Borrowers
Wall Street Journal - Countrywide, the nation's largest home-mortgage lender by volume, has reached an agreement with Neighborhood Assistance Corp. of America to restructure loans for people at risk of losing their homes, Countrywide and the NACA said. The agreement is ...
2007-10-23 06:55:00 -
BBVA Third-Quarter Profit Rises on Spain Loan Revenue (Update2)
Bloomberg - ... profit rose 19 percent in the third quarter on higher lending revenue in its home ... compared with a 1 percent decline at Banco Santander SA, Spain's biggest lender ... lending growth in the region to 15 percent from 16.1 percent in June as mortgage ...
2007-10-24 03:31:00 -
Couple sues subprime lender
NWI.com - LOWELL | A Lowell couple is suing their subprime mortgage lender in Hammond federal court in an attempt to rescind their $126,000 home-equity loan, alleging the company did not disclose the terms of the deal. Kerry and Susan Burke argue the New ...
2007-10-23 10:37:00 -
Seminar targets home loan `paralysis'
Miami Herald - Seminar targets home loan `paralysis' ... For homeowners falling behind on their mortgage payments, the fear factor helps ... locally, these are the tools lenders would prefer to use. ''Any reputable lender ...
2007-10-23 11:56:00 -
American Home sues BofA unit over loan losses
Charlotte.com - American Home Mortgage Investment Corp., a subprime lender under bankruptcy protection, sued a unit of Bank of America Corp. over losses tied to the value of $1.62 billion in loans.American Home sold the loans to a pair of special purpose entities ...
2007-10-23 11:13:00