Mortgage and Financial News From 2008-4-29 Page 6
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BofA to target $40B in troubled mortgages - MSN MoneyCentral
Bank of America Corp. says it expects to modify or work out at least $40 billion in troubled mortgages after it closes on its acquisition of Countrywide Financial Corp. in the third quarter. BofA expects its efforts will keep about 265,000 customers ...
2008-04-29 06:07:00 -
Blanchflower says BoE must act to prevent recession - MSN UK News
EDINBURGH (Reuters) - Britain faces a real risk of recession and house prices could crash by more than 30 percent unless the Bank of England takes "aggressive" action, policy-maker David Blanchflower said on Tuesday. In direct contrast to Bank of ...
2008-04-29 01:09:00 -
BoE's Blanchflower dubs 50 billion pound rescue plan 'expensive ... - Forbes
LONDON (Thomson Financial) - The Bank of England's 50 billion pound plan to ease the liquidity drought is 'expensive', a rate-setter on the Bank said. Referring to the 'haircut', or spread, charged by the BoE when giving banks government debt in ...
2008-04-29 01:31:00 -
DiamondRock Hospitality Company Reports First Quarter Results (PR Newswire via Yahoo! Finance)
DiamondRock Hospitality Company today announced results of operations for its first fiscal quarter 2008, which ended on March 21, 2008. The Company is a lodging focused real estate investment trust that owns twenty premium hotels in North America.
2008-04-29 01:05:00 -
Reuters Business Summary (Reuters via Yahoo! Philippines News)
Cholesterol-drug rejection rips new gash in Merck
2008-04-29 01:08:23 -
Canada's Bonds Rise as Investors Seek Safety on Stock Decline (Bloomberg.com)
April 29 (Bloomberg) -- Canada's bonds rose, pushing down the 10-year yield the most in more than two weeks, after investors sought the safety of government debt as stocks fell and banks reported losses tied to U.S. subprime mortgages.
2008-04-29 01:17:33 -
Countrywide, GMAC Losses Underline U.S. Housing Slump (Update2) (Bloomberg.com)
April 29 (Bloomberg) -- Countrywide Financial Corp. and GMAC LLC, two of the nation's biggest home lenders, lost a combined $1.5 billion in the first quarter, adding to evidence that the housing slump has deepened.
2008-04-29 01:18:22 -
Countrywide Reports $893 Million Loss From Bad Loans (Update5) (Bloomberg.com)
April 29 (Bloomberg) -- Countrywide Financial Corp. , the mortgage lender that Bank of America Corp. plans to buy, reported a third straight quarterly loss as late payments and home foreclosures escalated.
2008-04-29 01:33:22 -
President, Congress Play 'Blame Game' Over Economy (KDKA Pittsburgh)
After months of upbeat talk on the economy, President George W. Bush now says times are tough for many Americans. But the president says don't blame him, blame the Congress.
2008-04-29 01:41:50 -
Berkshire Hills Reports 22% Earnings Growth and Record Quarterly Earnings and EPS (Centre Daily Times)
Berkshire Hills Bancorp (BHLB) reported a 22% increase in first quarter earnings to a record $6.0 million in 2008 from $4.9 million in 2007. First quarter earnings per share increased by 4% to a record $0.58 in 2008 compared to $0.56 in 2007. Berkshire is the parent of Berkshire Bank, America's Most Exciting Bank(SM).
2008-04-29 01:45:05 -
More Republicans back Democrats' housing rescue - International Herald Tribune
WASHINGTON : The Democrats' housing rescue plan is picking up converts among Republicans who are shrugging off White House objections after getting an earful from voters struggling to stave off foreclosure. The GOP support is coming from regions ...
2008-04-29 12:41:00 -
King denies £50bn lifeline will renew mortgages - Times Online
Mervyn King, the Governor of the Bank of England, today undercut claims by Alistair Darling that the Bank's £50 billion-plus lifeline to Britain’s lenders will end the mortgage logjam endangering the housing market. In an embarrassing blow to the ...
2008-04-29 09:13:00 -
No Assets? No Problem. - Forbes
You probably thought nothing-down mortgage loans disappeared in the wake of the American subprime lending crisis , which has ensarled much of the world in a credit crunch . They didn't. Even more surprising, many Americans can still buy homes with ...
2008-04-29 12:41:00 -
Market latest: Australia - ninemsn
The highest mortgage rates in almost 12 years are beginning to pare back house and home unit prices in Sydney but Australia's biggest city remains the nation's most expensive for residential property. Sydney apartment prices dropped by 2.5 per cent ...
2008-04-29 07:55:00 -
Stocks edge lower with investors wary of consumer data, Fed - Newsday
NEW YORK - Stocks edged lower in early trading Tuesday ahead of a report that's expected to show another decline in consumer confidence this month. The Conference Board releases its April survey of consumer confidence at 10 a.m. EDT. The consensus ...
2008-04-29 07:55:00