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Credit default swaps ushered in global financial crisis - Post-TribunePrevious stories in the series can be found online at www.post-trib.com. Today’s story focuses on credit default swaps and mortgage-backed securities. What they are Credit default swaps made their debut in financial markets in 1995. They are like ...
ArcelorMittal, USW, reach agreement - NWITimes.comBURNS HARBOR | The United Steelworkers and ArcelorMittal reached an agreement Wednesday eliminating the forced layoffs of 2,444 hourly workers at its Burns Harbor plant. Paul Gipson, president of United Steelworkers Local 6787, said the company and ...
Bankers in China also feeling financial crisis - Post-TribuneSHANGHAI, China -- Foreign banks in China feel the impact of the mortgage crisis in the United States. Because the government banks handle any business mortgage, these foreign banks handle the risk of home lending. Former Valparaiso University ...
No job, bad mortgage - out of luck - CNN MoneyNEW YORK (CNNMoney.com) -- All the foreclosure prevention plans announced to date will do little to help the next wave of delinquent homeowners, who can't make their monthly payments because they've lost their jobs. But something needs to be done for ...
VU delegation to China makes contacts - Post-TribuneHANGZHOU, China -- The trip to China is winding down for the delegation of business and civic leaders Valparaiso University sponsored through its Confucius Institute. Those who went are seeing results, although not necessarily through the official ...
HSBC Strains While It Tries To Help Out Homeowners - Wall Street JournalIn early 2007, HSBC Holdings PLC was one of the first big banks hit by what became a global tidal wave of subprime-mortgage woes. Now there's a new problem: Changing the terms of some shaky loans has failed to keep borrowers from defaulting. The U.K ...
A False Fix for the Mortgage Crisis - The Washington Independent.comAs the government, housing advocates and banks like Citigroup and JPMorgan Chase struggle to streamline loan modifications and stave off foreclosures, one tactic keeps coming back to life as a sure-fire weapon: the 90-day mortgage moratorium. In ...
'Hope for Homeowners' gets a slow start - CNN MoneyNEW YORK (Money) -- Everyone agrees that the only way to fix the financial crisis is to fix the housing market. Yet hundreds of billions of taxpayer dollars are being used to shore up failing banks. So far, efforts to stem the tide of foreclosures ...
1st Source Reports Growth in Operating Income - Inside Indiana BusinessSouth Bend-based 1st Source Corporation (Nasdaq: SRCE), parent company of 1st Source Bank, is reporting an increase in operating income for the third quarter of 2008, from $6.13 million in 2007 to $10.06 million. However, the company says its net ...
Finally, a Bailout for Homeowners? - The Washington Independent.comAs foreclosures continue at a record pace, homeowners in trouble have watched the government devise a $700-billion rescue plan for Wall Street, buy shares in nine major banks and extend credit to insurance companies like AIG. What they haven’t seen ...
Today's Mortgage Terms starting with T
Term: The period of time in which a loan must be paid off.
Truth-In-Lending Act: Federal law demanding a full written disclosure of the credit terms of a mortgage incorporating a standard format.
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