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JPMorgan Chase cutting 9,200 jobs at recently acquired Washington ... - Newsday
NEW YORK (AP) _ JPMorgan Chase & Co. said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the nation's largest bank to fail amid the ongoing credit crisis. Of the 9,200 jobs ...

Hedge fund Greenwich sues Countrywide over mortgage accord - Los Angeles Times
Countrywide Financial Corp., the lender bought by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims that an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The hedge fund said investors ...

Fannie, Freddie Mortgage-Bond Spreads Retrace Fed-Sparked Gains - Bloomberg
Dec. 3 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds widened relative to U.S. Treasury notes, retracing gains from the past week as investors anticipated an increase in the amount of securities. The difference between ...

Mortgage-Bond Holders Get Voice - Wall Street Journal
The push to modify troubled mortgage loans has created headaches for many investors who hold mortgage-backed securities. For bond investor William Frey, it is turning into a business. Mr. Frey has started to represent investors in their discussions ...

Treasury 30-Year Yield Drops to Record Low With Fed to Buy Debt - Bloomberg
Dec. 3 (Bloomberg) -- Thirty-year Treasury bond yields fell to record lows for a third consecutive day after the Federal Reserve said it plans to make weekly purchases of the debt of mortgage issuers to drive borrowings costs lower. Yields have ...

Grais & Ellsworth LLP Files Class Action Against Countrywide on Behalf ... - Earthtimes
NEW YORK , Dec. 3 /PRNewswire/ -- Grais & Ellsworth LLP has filed a class action against Countrywide Financial Corporation on behalf of thousands of investors in 374 securitization trusts to which Countrywide sold subprime and Alt-A mortgage loans ...

Countrywide Sued by Fund Over $8.4 Billion Loan Deal - Daily Business Review
ountrywide Financial Corp., the home lender acquired by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors. The hedge fund claims ...

Investors sue Countrywide to force loans purchase - Tehran Times
NEW YORK (Reuters) -– A group of bond investors sued Bank of America (BAC.N)-owned Countrywide Financial on Monday demanding that Countrywide buy every mortgage loan for which it agrees to reduce payments under a predatory lending settlement deal ...

Locals share memories of the Great Depression - Greenwich Time
Tony Dipreta speaks about his experiences in the Great Depression recently at The Greenwich Senior Center. Charles Prete's family had groceries delivered each week by a local store, even during the Great Depression when times were tough and there ...

When times were tough: Seniors say downturn doesn't stack up to ... - Stamford Advocate
GREENWICH - When he was a kid, Charles Prete's family had groceries delivered each week by a local store, even during the Great Depression, when times were tough and there wasn't any money to pay for them. "My father always wanted to put food on the ...

Today's Mortgage Terms starting with H

Home Equity Line of Credit: A type of revolving credit in which your home is used as collateral.

Home Equity Loan: A revolving line of credit or loan based on the equity in the mortgagor's property. The property is the collateral for the loan, which is usable for any purpose.

Housing and Urban Development (HUD): A U.S. government agency created to introduce federal housing and community development programs; manages the Federal Housing Administration.

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