Mortgage and Financial News From 2008-1-28

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  • Steer breaks out of Cincinnati-area slaughterhouse (Detroit Free Press)

    CINCINNATI — Searchers on the ground and in a sheriff's department helicopter Monday were looking for an Angus steer that postponed its date with a slaughterhouse by bolting out a gate that had been inadvertently left open.
    2008-01-28 06:25:24

  • Confidence in the future guaranteed

    Minot Daily News - In the early ‘70s we never saw the lenders or realtors, but in the early ‘80s we saw a secondary market created as a local bank sold their bundled services (i.e., mortgages) to larger mortgage companies who wanted (mandated) title insurance and ...
    2008-01-28 12:54:00

  • Religious leaders challenge Bush

    Jordan Times - The group also expressed concern about the current economic downturn triggered by the sub-prime mortgage market meltdown. de Vries called attention to “the extraordinary levels of deceit” by banks and mortgage companies, and charged that “no ...
    2008-01-28 12:26:00

  • Pay property taxes by Thursday to avoid delinquent penalties

    El Paso Times - Even if we have seen more foreclosures, we still have mortgage companies paying the taxes," he said. "Property taxes remain the most reliable source of revenue for our (government) entities." Gustavo Reveles Acosta may be reached at greveles ...
    2008-01-28 01:51:00

  • 3 On Your Side: Managing Your Money

    CBS 3 Philadelphia - Most banks and mortgage companies have programs designed to help, but, "we see a lot of people who are 60 days or more delinquent on their mortgage," Hasson said. She added, "if you come in earlier, it just opens up the door to more options." ...
    2008-01-28 01:51:00

  • Musgrave and Markey look forward to State of the Union

    Coloradoan - We also need to be looking at the housing industry and talking more about helping homeowners renegotiate loans and regulating brokers and mortgage companies more.” Musgrave also said she expects Bush to speak on the Iraq war. “I believe the ...
    2008-01-28 01:16:00

  • Rate cut, stimulus plan could restart housing

    Reuters - The two companies are federally mandated to keep mortgage funds flowing. The two events could stabilize a beleaguered housing sector that has hacked away more than 1 percentage point from economic growth, professors and economists said. With ...
    2008-01-28 03:53:00

  • U.S. Economy: New-Home Sales Drop to 12-Year Low (Update3)

    Bloomberg - The accord includes a provision allowing Fannie Mae and Freddie Mac, the largest U.S. mortgage finance companies, to temporarily buy mortgages of as much as $729,750, exceeding the current $417,000 federal limit. Sales of previously owned ...
    2008-01-28 02:13:00

  • Regulators push for bond insurance

    MSN MoneyCentral - Existing bond insurers including Ambac Financial Group Inc. and MBIA Inc. have been hit hard by guarantees they wrote on complex mortgage-related securities known as collateralized debt obligations. The companies rely on having AAA ratings, but those ...
    2008-01-28 11:21:00

  • Microsoft Media Reputation Leads Among 100 Largest U.S. Companies for ...

    Forbes - Media coverage of financial services companies was dogged by issues such as the subprime mortgage crisis and the weakening economy, heading into what could be a tough 2008," Bullock said. "And home improvement companies also suffered from unfavorable ...
    2008-01-28 06:56:00

  • Mozilo to hand back $37.5m

    Financial Times - He is to testify before Congress next week at a hearing on the compensation of executives at companies with big subprime mortgage problems. Mrs Clinton has called Mr Mozilo’s pay “outrageous” and accused him of being “one of the principal ...
    2008-01-28 03:03:00

  • Merrill's Fakahany to Depart After Subprime Losses (Update2)

    Bloomberg - Since the First Franklin acquisition closed, more than 100 mortgage companies have gone out of business, declared bankruptcy or put themselves up for sale. Merrill has had to slash jobs at San Jose, California-based First Franklin and write off about ...
    2008-01-28 01:59:00

  • When mortgage rates drop, calls increase

    Rockford Register-Star - The telephone lines at local banks and mortgage companies eased their ringing a bit Monday as 30-year mortgage rates inched upward from last week’s lows not seen since 2005. Thanks to a faltering economy and expectations that the Federal Reserve ...
    2008-01-28 11:35:00

  • '5m miss credit card repayments' - The Press Association

    '5m miss credit card repayments'The Press Association - 1 hour agoCredit card companies are raking in millions of pounds in penalty fees as one in five customers misses a repayment, figures show. Around 11% of cardholders, ...
    2008-01-28 04:15:29

  • Fetting to replace Mason as CEO at Legg - Daily Record (subscription)

    Fetting to replace Mason as CEO at LeggDaily Record (subscription), MD - 1 hour agoLegg’s shares dropped 23 percent last year after subprime mortgage bonds caused the value of its structured investment vehicles, or SIVs, to plummet, ...
    2008-01-28 04:17:31

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