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