Mortgage and Financial News From 2008-1-11 Page 10
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Fears About Economy Worsen Debt Crisis Grows; Top Mortgage Firm Sold ...
Washington Post - New indications emerged yesterday that the spiraling subprime mortgage crisis is spreading from home loans to credit cards, potentially ... Countrywide Financial for $4 billion, a bargain-basement price for the nation's largest mortgage lender, which ...
2008-01-11 08:17:00 -
Countrywide Bonds Beat Stocks After Takeover Offer (Update2)
Bloomberg - Bank of America, the largest U.S. bank by market value, agreed today to buy Calabasas, California-based Countrywide for about $4 billion, taking over the biggest mortgage lender during the worst housing slump in more than 20 years. Charlotte, North ...
2008-01-11 03:16:00 -
For CEOs, failure can be lucrative
Los Angeles Times - You are here: LAT Home > Business News ... Compare Castello's situation with that of Angelo Mozilo, the well-tanned chief exec of mortgage lender Countrywide Financial Corp.
2008-01-11 07:12:00 -
Debt Crisis Grows; Top Mortgage Firm Sold at a Bargain - Washington Post
Debt Crisis Grows; Top Mortgage Firm Sold at a BargainWashington Post, United States - 1 hour agoBank of America agreed yesterday to buy the troubled Countrywide Financial for $4 billion, a bargain-basement price for the nation's largest mortgage lender ...
2008-01-11 07:38:10 -
US Federal Reserve chairman warns of recession danger, promises ... - World Socialist Web Site
US Federal Reserve chairman warns of recession danger, promises ...World Socialist Web Site, MI - 1 hour agoOn Friday, Bank of America announced a deal to buy Countrywide Financial, the nation’s largest mortgage lender. Countrywide is facing bankruptcy due to the ...
2008-01-11 08:08:15 -
Inquiry Focuses on Withholding of Data on Loans - New York Times
Inquiry Focuses on Withholding of Data on LoansNew York Times, United States - 1 hour agoBy VIKAS BAJAJ and JENNY ANDERSON An investigation into the mortgage crisis by New York State prosecutors is now focusing on whether Wall Street banks ...
2008-01-11 08:08:30 -
Mortgage fraudster gets one year in jail - Edmonton Journal
Mortgage fraudster gets one year in jailEdmonton Journal, Canada - 1 hour agoThe $393279 that banks and other mortgage lenders lost on home loans that Brito obtained through trickery has never been repaid. ...
2008-01-11 08:17:26 -
UK lenders show some resilience - ic Wales
UK lenders show some resilienceic Wales, United Kingdom - 1 hour agoDATA released this week showed that affordability in the mortgage market continued to show some resilience to tightening credit market conditions in ...
2008-01-11 08:18:43 -
Foreclosures jump 51% in Milwaukee County - Milwaukee Journal Sentinel (subscription)
Foreclosures jump 51% in Milwaukee CountyMilwaukee Journal Sentinel (subscription), WI - 1 hour ago"Compounding the issue, many lenders have tightened lending standards in the wake of the subprime mortgage crisis and skyrocketing mortgage defaults, ...
2008-01-11 08:18:45 -
Bank of America's acquisition of Countrywide is a positive step ... - Kansas City Star
Bank of America's acquisition of Countrywide is a positive step ...Kansas City Star, MO - 1 hour agoBy ALAN ZIBEL AP Countrywide Financial had generated much anxiety among investors because of its size — it was the largest US mortgage lender for much of ...
2008-01-11 08:19:43 -
Financial sector's troubles send stock plunging - Kansas City Star
Financial sector's troubles send stock plungingKansas City Star, MO - 57 minutes agoBank of America Corp. agreed to buy Countrywide Financial Corp. for $4 billion, a deal that rescues the country’s largest mortgage lender but pays less than ...
2008-01-11 08:24:54 -
Durbin trying to bail out people on verge of losing their homes - Bloomington Pantagraph
Durbin trying to bail out people on verge of losing their homesBloomington Pantagraph, USA - 54 minutes agoThe legislation would allow those facing foreclosure to go to bankruptcy court, where a judge and lender would negotiate an affordable monthly payment. ...
2008-01-11 08:27:51 -
Housing slowdown inspires gimmicks - San Jose Mercury News
Housing slowdown inspires gimmicksSan Jose Mercury News, USA - 42 minutes ago... that mortgage lenders • The seller of a $760000 home on East Hemlock Avenue in Sunnyvale offered to pay up to $20000 worth of a buyer's closing costs. ...
2008-01-11 08:39:49 -
GAIL MARKSJARVIS: Could mortgage problems have been headed off by ... - San Luis Obispo Tribune
GAIL MARKSJARVIS: Could mortgage problems have been headed off by ...San Luis Obispo Tribune, CA - 38 minutes agoHomeowners didn't have to overdose on mortgage debt they couldn't afford. Mortgage lenders didn't have to push poisonous adjustable-rate loans at homeowners ...
2008-01-11 08:43:38 -
GAIL MARKSJARVIS: Could mortgage problems have been headed off by ... - The Olympian
GAIL MARKSJARVIS: Could mortgage problems have been headed off by ...The Olympian, WA - 36 minutes agoThe mistakes banks and brokers made with mortgage-related bonds have left a lingering credit crunch, or a reluctance by lenders to make affordable loans to ...
2008-01-11 08:45:36
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