Mortgage and Financial News From 2008-4-29 Page 01
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Citigroup, RAMS eye A$ mortgage-backed debt: sources - Reuters
SYDNEY (Reuters) - Citigroup (C.N: Quote , Profile , Research ) and RAMS Home Loans Group Ltd (RHG.AX: Quote , Profile , Research ) are in discussions with investors about selling residential mortgage-backed securities (RMBS), sources said on Monday ...
2008-04-26 05:59:00 -
Bernanke May Have to Do More to Ease Jump in Bank Funding Costs - Bloomberg
April 30 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke may need to step up his effort to unfreeze bank funding markets as a surge in borrowing costs blunts the impact of the cash auctions the central bank introduced in December. The cost of ...
2008-04-29 09:09:00 -
Housing Minister criticises banks' hikes - News.com.au
Federal Housing Minister Tanya Plibersek has described as "not ideal" decisions by three of the country's biggest banks to raise home loan interest rates. The National Australia Bank, ANZ and Westpac have all lifted their standard variable mortgage ...
2008-04-29 07:58:00 -
Countrywide Loss Focuses Attention on Underwriting - Wall Street Journal
Countrywide Financial Corp. reported an $893 million loss for the first quarter, amid mounting evidence of serious problems with its underwriting of many home loans. A federal probe of Countrywide, the nation's largest mortgage lender, is turning up ...
2008-04-29 09:16:00 -
S&P Downgrades, Reviews $41 Billion of Alt-A Bonds (Update2) - Bloomberg
April 29 (Bloomberg) -- Standard & Poor's downgraded or put on review ratings on $41 billion of debt backed by Alt-A home loans, citing a jump in defaults since the beginning of the year. Ratings on 2,183 classes of securities created in 2006 were ...
2008-04-29 04:23:00 -
British mortgage total at 15-year-low - Forbes
The Bank of England said Tuesday that the number of home mortgages approved in March was the lowest in 15 years of record keeping, yet another sign of the slowdown in the once-booming housing market and the economy at large. The bank said the 64,000 ...
2008-04-29 10:11:00 -
Bush: I've No Magic Wand For Gas Prices (CBS News)
President Bush says Congress is blocking his proposals to deal with high gas prices and dragging its feet on legislation to make more student loans available and ease the mortgage crunch.
2008-04-29 10:00:02 -
GMAC posts loss of $598M (Detroit News)
General Motors will take a $288 million hit in the first quarter from mounting losses at GMAC LLC, the finance company still part-owned by the automaker, according to GMAC financial results released Tuesday.
2008-04-29 10:01:48 -
Is this the right time to buy a house? (rediff.com)
Deceleration of economic growth will impact purchasing power
2008-04-29 10:02:17 -
Bank Breaks Ranks To Cut Mortgage Costs (Ananova)
Royal Bank of Scotland has bucked the trend by cutting the cost of its fixed and tracker rate mortgages.
2008-04-29 10:05:06 -
Stories wanted from those impacted by financial crisis (The Press-Enterprise)
Are mortgage payments and soaring food and gas prices driving you into the ground financially? The Press-Enterprise is looking for families whose lifestyles have changed dramatically as home values drop and costs climb.
2008-04-29 10:05:43 -
Cape resident pounds pavement in search of work (The News-Press)
It's no secret that those looking for work are having trouble finding it.
2008-04-29 10:13:58 -
Major criminal cases in Klamath County (Herald and News)
"The complete printed edition, page by page, online." Several Klamath Basin families challenged themselves this week to go without watching any television shows and movies. They also eliminated computer games.
2008-04-29 10:14:40 -
Loonie being held down, analyst says - Montreal Gazette
The Bank of Canada will aggressively cut interest rates to bring down the Canadian dollar that is being held aloft by the country's relatively high interest rates and world oil prices, which hit a new record high of nearly $120 U.S. a barrel ...
2008-04-29 01:28:00 -
Saying Times Are Tough, Bush Urges Congress to Act - New York Times
WASHINGTON — With consumer confidence falling and gasoline and food prices at record highs, President Bush delivered an unusually dark assessment of the economy on Tuesday, saying the nation is in “very difficult times, very difficult.” There ...
2008-04-29 08:12:00