Mortgage and Financial News From 2008-1-11 Page 18

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• Countrywide deal could boost industry

  Boston Globe - The threat to homeowners isn't over yet, either, analysts say, as 1.8 million subprime mortgages made to borrowers with poor ... They've got to reverse what Countrywide has done," said Robert Gnaizda, the group's general counsel. The Countrywide deal ...
  2008-01-11 03:37:00

• Nightly News’ Spreads Fear Over Reverse Mortgages

  News Busters - Never underestimate the power of the media when it comes to taking something completely legitimate and distorting its image as if it is some shady racket. The January 10 "NBC Nightly News" gave that impression about reverse mortgages - a special type ...
  2008-01-11 12:53:00

• Editorial Commentary: A long slog ahead for US economy - Seattle Post Intelligencer

  Editorial Commentary: A long slog ahead for US economySeattle Post Intelligencer - 1 hour agoPrudently looser monetary policy will help, but cannot reverse the credit cycle or the bursting of the housing bubble. Nor will modest fiscal stimulus of ...
  2008-01-11 05:09:19

• Seniors seek property-tax relief (Hazelwood-Bridgeton Journal)

  Paul Meyer moved to Florissant 32 years ago. He is now paying more than three times as much in property taxes as he did back then.
  2008-01-11 10:36:43

• Republican Debate Transcript, Myrtle Beach, South Carolina (Foreign Relations)

  This debate between Republican presidential candidates was held in Myrtle Beach, South Carolina on January 10, 2008. It was hosted by Fox News.
  2008-01-11 11:24:47

• Countrywide, BofA deal could be confidence boost for industry (San Francisco Chronicle)

  Bank of America's $4.1 billion rescue of Countrywide Financial could help stem economic turmoil by giving global investors more confidence in the battered U.S. mortgage industry. It also bolsters arguments that government intervention isn't the only...
  2008-01-11 01:12:21

• Countrywide Deal Could Boost Industry (AP via Yahoo! Finance)

  Bank of America's $4.1 billion rescue of Countrywide Financial could help stem economic turmoil by giving global investors more confidence in the battered U.S. mortgage industry.
  2008-01-11 02:18:51

• What Hillary would do tomorrow, if she could (Salon.com)

  The action candidate lays out her plan for an immediate boost for the economy. Her timing couldn't be better.
  2008-01-11 03:30:30

• JPMorgan Eying WaMu?

  Street.Com - BofA's rescue of Countrywide , which pairs the second-largest U.S. bank with the top mortgage lender in the nation, may ... BofA is the mortgage lender's 9-million-strong borrower base and its steady flow of fees from some $1.5 trillion of mortgages ...
  2008-01-11 02:33:00

• Wells Fargo, BofA, others sued by city of Cleveland over foreclosures

  MSN MoneyCentral - The city of Cleveland sued Wells Fargo and other mortgage lenders alleging that high-rate mortgages that have forced many into ... Cleveland is the second major city this week to sue Wells Fargo. (NYSE: WFC) The San Francisco bank also faces litigation ...
  2008-01-11 03:16:00

• Mortgage rates fall under 6%, a recent rarity

  Philadelphia Inquirer - WASHINGTON - Rising worries about a weak economy pushed rates on 30-year mortgages below the 6 percent mark this week for only the second time in more than two years. Freddie Mac, the mortgage company, reported yesterday that 30-year, fixed-rate ...
  2008-01-11 12:00:00

• Harney: Mortgage industry failing to help distressed borrowers

  San Jose Mercury News - It is also bringing to light impediments to quick resolutions that may surprise some borrowers, such as the presence of home equity lines or second mortgages on the property. People with popular "piggyback" combinations of first and second mortgages ...
  2008-01-11 11:05:00

• Fishing Boats, Surfboards and Not a High-Rise in Sight

  New York Times - And there are no mortgages here. “Everything we sell is cash,” Ms. Cole said. Most second homes are clustered in subdivisions at the western end of town or just out of town, to the east. That’s where corporations like Puerto Escondido Habitat ...
  2008-01-11 10:30:00

• DAILY DIGEST

  San Francisco Gate - Rising worries about a weak economy pushed rates on 30-year mortgages below the 6 percent mark for only the second time in more than two years. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 5.87 ...
  2008-01-11 05:22:00

• Wells Fargo, others sued by city of Cleveland over foreclosures

  MSN MoneyCentral - The city of Cleveland has sued Wells Fargo & Co. and other mortgage lenders alleging that high-rate mortgages have forced many ... Cleveland is the second major city this week to sue Wells Fargo (NYSE: WFC); the San Francisco bank also faces litigation ...
  2008-01-11 03:16:00

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