Mortgage and Financial News From 2008-1-11 Page 01

Previous Day: 2008-01-10

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Morning Briefing
Raleigh News & Observer - House is scheduled today to vote on a bill that would alter some practices in the mortgage industry. The measure sets minimum lending standards and would prevent lenders or brokers from steering borrowers into loans that aren't best for them. The goal ...
2008-01-10 02:41:00
Bank of America to Acquire Countrywide for $4 Billion (Update8)
Bloomberg - Bank of America, Wells Fargo & Co., and other big mortgage lenders have reduced their loan purchases from independent mortgage brokers, citing credit concerns. ``There's a tendency for people to underappreciate the risk of the housing ...
2008-01-11 01:57:00
Appraiser sentenced to prison in mortgage fraud case
Philadelphia Enquirer - Darryl L. Cooper, 27, of Decatur was sentenced to 18 months in federal prison on Friday after pleading guilty in a scheme to defraud mortgage lenders submitting fraudulent appraisals on incomplete houses in Forsyth County. U.S. District Judge Thomas ...
2008-01-11 03:45:00
Banking concerns hammer Wall St
News.com.au - The buyout of Countrywide does solve one major problem in the troubled home lending market, but others remain. Our sense is that there will be more bailout mergers of severely troubled mortgage lenders before this is over.'' Share this ...
2008-01-11 10:54:00
City of Cleveland sues lenders over foreclosures
MSN MoneyCentral - Citigroup Ord Shs ( C ) Stock Quote , Chart , News , Add to Watchlist The city of Cleveland sued Wells Fargo and other mortgage lenders alleging that high-rate mortgages that have forced many into foreclosure and left entire neighborhoods in ruins ...
2008-01-11 03:09:00
Loan landscape changing
Boston Globe - The deal, made public yesterday, will combine the two largest mortgage lenders in Massachusetts. It also speeds the dismantling of a business model that made loans cheaper and easier to get than ever before - fueling an unsustainable home-buying boom ...
2008-01-11 10:47:00
RiskMetrics: a Decent Bet - Wall Street Journal
RiskMetrics: a Decent BetWall Street Journal - 2 hours agoThe latter list includes several regional lenders, such as North Carolina's BB&T and Wachovia. Insider buying isn'ta foolproof signal. ...
2008-01-11 09:01:03
Oh sure, now blame the consumer - Boston Globe
Oh sure, now blame the consumerBoston Globe, United States - 2 hours agoWhat if they found profiteering insurance and pharmaceutical corporations, unethical mortgage lenders seeking taxpayer bail-outs, and an astonishing ...
2008-01-11 09:30:39
Greenbacks for greenhouse gas - Boston Globe
Greenbacks for greenhouse gasBoston Globe, United States - 2 hours agoUS lenders' failure to foresee the subprime mortgage debacle that is now roiling financial markets does not speak well for their ability to take the long ...
2008-01-11 09:33:14
How the Rich Define Rich - Wall Street Journal
How the Rich Define RichWall Street Journal - 2 hours agoThe data from Countrywide Financial on loan delinquencies is instructive -- and watching these figures, and those from other lenders, will be an important ...
2008-01-11 09:34:11
Foreclosure-prevention town hall meeting at Oakland City Hall - San Francisco Chronicle
Foreclosure-prevention town hall meeting at Oakland City HallSan Francisco Chronicle, USA - 2 hours ago... agencies and legislators, will feature credit counselors, loan servicers and lenders offering on-site assistance and information on mortgage options. ...
2008-01-11 09:41:09
Answering key questions about BofA's purchase of Countrywide - San Francisco Chronicle
Answering key questions about BofA's purchase of CountrywideSan Francisco Chronicle, USA - 2 hours agoBankrate.com's McBride said the investors that buy mortgage-backed bonds determine the availability of capital, not lenders themselves. ...
2008-01-11 09:41:13
City's suit says lenders create 'public nuisance' - Boston Globe
City's suit says lenders create 'public nuisance'Boston Globe, United States - 1 hour agoNEW YORK - Merrill Lynch & Co., Goldman Sachs Group Inc., and Bank of America Corp. were among 21 banks and mortgage companies sued by the city of Cleveland ...
2008-01-11 10:01:14
Loan landscape changing - Boston Globe
Loan landscape changingBoston Globe, United States - 1 hour agoThe deal, made public yesterday, will combine the two largest mortgage lenders in Massachusetts. It also speeds the dismantling of a business model that ...
2008-01-11 10:01:14
Bank of America to buy Countrywide - Pioneer Press
Bank of America to buy CountrywidePioneer Press, MN - 1 hour agoThe laws, aimed at non-bank mortgage lenders, don't apply to banks. The purchase is expected to close in the third quarter, to be neutral to Bank of America ...
2008-01-11 10:05:58

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