Mortgage and Financial News From 2008-5-14 Page 3
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Bill would make new loan caps permanent - Oakland Tribune
Local congressman Jerry McNerney, D-Pleasanton, has penned legislation to change the current federally-backed Freddie Mac, Fannie Mae and Federal Housing Administration loan limits from temporary to permanent. The loans from the Federal Home Loan ...
2008-05-14 03:51:00 -
Sydney mortgage squeeze sets mark for Swan's Budget relief - News.com.au
THE needs of struggling Sydney households fighting Australia's highest living costs have dictated the shape of the first Labor Budget in more than a decade. The Budget also funds a Sydney-specific capital works program that tackles the failures of ...
2008-05-13 03:09:00 -
Need to know - Times Online
Inflation The Bank of England, in its latest quarterly Inflation Report , dampened prospects that interest rates will fall as quickly as markets hope. The Bank gave warning that inflation could rise to near 4 per cent if interest rates fell in line ...
2008-05-14 04:41:00 -
New York Mortgage Trust Announces Correction to its Previously Issued ... - Forbes
NEW YORK, May 14 /PRNewswire-FirstCall/ -- New York Mortgage Trust, Inc. (the "Company" or "NYMT") (OTC Bulletin Board: NMTR), a self-advised real estate investment trust (REIT), made the following announcements today: Corrections to Previously ...
2008-05-14 04:12:00 -
Freddie loses $151M in 1Q, CEO says mortgage damage is manageable ... - International Herald Tribune
WASHINGTON : Freddie Mac beat Wall Street's expectations in the first quarter, but the mortgage finance company did not vanquish concerns about its ability to weather the U.S. housing bust. Changes in accounting practices helped McLean, Virginia ...
2008-05-14 02:46:00 -
FHA Chief Criticizes Rescue Plan - US News and World Report
While most government officials scratch and claw for more authority, Federal Housing Administration Commissioner Brian Montgomery is pouring cold water on a housing rescue plan that would make his agency the linchpin of an expanded federal effort to ...
2008-05-13 03:02:00 -
US consumer prices edge up in April, energy steady - Forbes
WASHINGTON (Reuters) - U.S. consumer prices rose less than expected in April as energy prices paused after their recent surge, easing inflation fears. The modest 0.2 percent rise in prices reported on Wednesday gives the Federal Reserve latitude to ...
2008-05-14 09:10:00 -
Foreclosures Climb 65% as Loan Workouts Fall Short (Update3) - Bloomberg
May 14 (Bloomberg) -- U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short. More than 243,300 properties were in some stage of foreclosure ...
2008-05-14 09:10:00 -
GM will need over $9 billion in new financing: Lehman - Reuters South Africa
Wed May 14, 2008 12:04pm ET DETROIT (Reuters) - General Motors Corp (GM.N: Quote , Profile , Research ) will need to raise over $9 billion in financing over the next two years to refinance existing debt and to offset projected cash losses in its auto ...
2008-05-14 09:53:00 -
Pa. foreclosures rise 37 percent in April - Forbes
The number of homes facing foreclosure in Pennsylvania rose more than one-third in April as compared to the same month last year, a research company said. A total of 3,266 Pennsylvania homes received at least one foreclosure-related filing in April ...
2008-05-14 02:18:00 -
Freddie Mac loss widens less than feared - Guardian Unlimited
NEW YORK, May 14 (Reuters) - Freddie Mac posted a smaller-than-expected quarterly loss on Wednesday and the second-biggest U.S. home-financing company said it would raise capital to expand its business, sparking a rally in its shares. Freddie Mac ...
2008-05-14 10:21:00 -
National banks adjusting weak housing market - CNBC
NEW YORK (AP) - The sharp downturn in the housing market took banks by surprise, but they are beginning to recover, banking executives said Wednesday at an investor conference. Washington Mutual Inc. President and Chief Operating Officer Stephen ...
2008-05-14 12:16:00 -
Editorial Comment: The asset price controversy - Financial Times
One market bubble may be an accident; two in the space of a decade begins to look like carelessness. After the internet bubble that burst in 2000, and last year’s collapse of a credit and house price bubble, every sane central banker around the ...
2008-05-14 12:52:00 -
Seminar on understanding reverse mortgages Wednesday - Ithaca Journal
A free seminar, “Understanding Reverse Mortgages,” will be offered from noon to 1 p.m. Wednesday at Cooperative Extension, 615 Willow Ave. David Stoyell, from the Office for the Aging, will explain both the benefits and possible pitfalls ...
2008-05-13 05:43:00 -
Plus--The big "change" Dem backers have in mind. - Slate
What "change" may mean: Dave Weigel of Reason describes the confident union push for "card check" legislation in the next Democratic administration. This is a much more significant issue than the manufactured debate over a gas tax holiday ( sorry ...
2008-05-14 11:04:00