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Paulson: Redo Fannie, Freddie - Wall Street JournalWASHINGTON -- Treasury Secretary Henry Paulson suggested that Congress should consider replacing government-backed mortgage giants Fannie Mae and Freddie Mac with companies that would guarantee mortgages but not hold them as investments. Mr. Paulson ...
U.S. Banks Offer Mortgage Rates Below 5% as Fed Buys Securities - BloombergJan. 8 (Bloomberg) -- The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase & Co. is advertising 30-year mortgages as low as 4 ...
Mortgage, credit crises cost banks - Akron Beacon JournalBlogs: Akron Law Café: 2008 in Review: The Year Wall Street Died? Car Chase: Holiday Break: Good Time to Visit an Automotive Museum The Heldenfiles: Thursday Morning Notebook Patrick McManamon: In the spirit of the day … Browns Bulletin: ...
Treasury's 'guidelines' hint at more bank rescues - The Washington TimesThe Treasury has quietly opened the door to more bailouts of major banks like Citigroup that the department deems too big to fail, exposing taxpayers to potentially large losses on the banks' souring loan portfolios. In a little-noticed move on ...
News & Features Navigation - Minnesota Public RadioMinnesota Public Radio coverage of the foreclosure crisis. Photo: #Faith Burns has lived in this south Minneapolis home for 13 years, but must move out by May 6 because her mortgage is being foreclosed. Her attorney says she was sold a defective ...
Can't afford your home mortgage? Steps to get it modified - ABC 15 NewsHomeowners who can't afford their mortgage payments can get a better deal from their lender. But the process is complicated and potentially onerous, and concessions are offered only to borrowers who earn neither too much nor too little income to meet ...
Finance & law: 2008's top stories - San Jose Business JournalIn one of the first major events of the subprime mortgage crisis, Bank of America Corp. stepped in to buy struggling Countrywide Financial Corp. for $4 billion in stock. The move was widely seen as a deal shepherded by bank regulators who feared the ...
Euro Falls Against Dollar Before Jobless, Retail Sales Data - BloombergJan. 8 (Bloomberg) -- The euro fell against the dollar before data that may show the jobless rate rose and retail sales declined in the countries sharing the currency, bolstering speculation the European Central Bank will lower interest rates. The ...
Mortgage crisis spurs tougher rules for brokers - WTHRIndianapolis - For the second time in a week, thieves ripped an ATM out of a convenience store. Police made two arrests in connection with the case, and they believe the latest incident is related to a similar crime over the weekend. Investigators ...
IndyMac sale may finally happen today - Los Angeles Times BlogsA sale of Pasadena's IndyMac Federal Bank is likely to be announced later today, according to sources close to the savings and loan, the private investors acquiring it and the Federal Deposit Insurance Corp. The FDIC has been operating the former ...
Today's Mortgage Terms starting with N
Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.
Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.
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