Mortgage and Financial News From 2008-7-20 Page 01
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Stephenville banks on solid ground - Stephenville Empire-Tribune
The national news has kept a watchful eye on Fannie Mae and Freddie Mac, two of the largest mortgage financiers in the country. But local banks seem to be insulated from the plunging market, at least for now. The Federal National Mortgage Association ...
2008-07-20 03:21:00 -
Treasury Secretary Paulson calls bank system secure - Los Angeles Times
Seeking to reassure a worried public, Treasury Secretary Henry M. Paulson Jr. said Sunday that the U.S. banking system was secure but other bank failures could follow the recent collapse of Pasadena-based IndyMac before the situation stabilized ...
2008-07-20 10:09:00 -
FDIC Faces Mortgage Mess After Running Failed Bank - Wall Street Journal
Federal officials heap much of the blame for the subprime mortgage mess on lenders, claiming they recklessly made too many high-cost home loans to borrowers who couldn't afford them. It turns out that the U.S. government itself was one of the lenders ...
2008-07-20 09:12:00 -
Financial problems touch Michigan - Detroit News
From the oldest financial institution in Oakland County to small-town thrifts and inner-city lenders, 28 banks and credit unions in Michigan have been labeled problematic, troubled or worse, according to a key financial rating service. While state ...
2008-07-20 09:48:00 -
Mortgage Interest Rate Comparison - Best Syndication
(Best Syndication News) Since November 2007 we have been conducting a survey of mortgage interest rates around the country (see the latest rates in a table below). We eliminate the larger national lenders or mortgage brokers including Quicken and ...
2008-07-19 05:53:00 -
Overseas investors take hard look at U.S. mortgage giants - International Herald Tribune
NEW DELHI : For more than a decade, Fannie Mae and Freddie Mac, the housing giants that make the American mortgage market run, have attracted overseas investors with a simple pitch: The securities they issue are just as good as the U.S. government's ...
2008-07-20 08:00:00 -
Boston Fed Tackles Foreclosure Crisis at Gillette Stadium - Wall Street Journal
The Federal Reserve Bank of Boston is trying to tackle the mortgage crisis by taking the problem to the field. Is that Ben Bernanke or Hank Paulson under there? (Getty Images) The Boston Fed is planning a foreclosure prevention workshop next month at ...
2008-07-17 05:55:00 -
Andy Oram Reports - American Reporter
CAMBRIDGE, Mass., Feb. 20, 2996 -- The rhetoric is whipping through the air in Washington and racing at a dizzying pace across the Internet, as highly publicized hearings on a "network neutrality" bill were held on February 7. Vint Cerf testified ...
2008-07-20 09:48:00 -
Economy posts record GDP growth - Times of Oman
MUSCAT — Smiles in Oman just got broader yesterday as the news that the country’s economy was expanding at record pace was broken by the Ministry of National Economy. The Directorate-General of Economic Statistics at the Ministry of National ...
2008-07-19 05:53:00 -
Don't put the entire caboodle in five-year CD - Elkhart Truth
Dear Mr. Berko: I have 60 shares of Office Depot stock that I bought in early 2006 for $38 that is trading now for $12. What's your take on this company? I also own 300 shares of Quest that I bought at $7 a share. Quest is now trading for $4. What's ...
2008-07-19 08:23:00 -
Real estate market struggles (The Morning Sun)
The outlook remains bleak for the central Michigan real estate market as Realtors try to explain to their sellers just exactly what they can do to sell their homes.
2008-07-20 07:19:38 -
Wachovia sues California mortgage firm over loans (BizJournals)
Struggling to manage its mortgage losses, Wachovia Corp. is suing a California mortgage lender for failing to buy back bad loans.
2008-07-20 09:25:15 -
Paulson Aims to Spur Covered Bonds by Sidestepping Congress (Bloomberg.com)
July 21 (Bloomberg) -- Treasury Secretary Henry Paulson , aiming to create a new source of U.S. mortgage financing, wants banks to start issuing covered bonds without waiting for legislation from Congress.
2008-07-20 09:50:48 -
Reuters Business Summary (Reuters via Yahoo! Singapore News)
Roche offers to buy out Genentech for $43.7 billion BASEL, Switzerland - Swiss drugmaker Roche Holding AG made an offer to acquire all outstanding shares in its U.S. partner Genentech Inc for $43.7 billion. Roche, which already owns 55.9 percent of Genentech, said on Monday it would offer $89 per share to buy up the remaining stake, a 9 percent premium to the biotech ...
2008-07-20 10:06:57 -
FDIC in mess over subprime loans-WSJ (Reuters via Yahoo! Philippines News)
July 21 (Reuters) - The Federal Deposit Insurance Corp, a regulator of U.S. banks, is itself embroiled in a mess related to subprime mortgages, the Wall Street Journal said on Monday, citing court documents.
2008-07-20 10:17:34