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FDIC will guarantee up to $1.4T in bank debt - Associated Press
WASHINGTON (AP) -- Federal regulators will guarantee as much as $1.4 trillion in U.S. banks' debt in a bid to get the distressed financial system pumping again. They also took steps Friday to make it easier for private investors to buy banks seized ...

HUD issues new mortgage rules to help consumers shup for lower-cost ... - Louisiana Weekly
New 'Good Faith Estimate' will help borrowers save nearly $700 For the first time in more than 30 years, the U.S. Department of Housing and Urban Development on Wednesday issued long-anticipated mortgage reforms that will help consumers to shop for ...

State mortgage-assistance program seen as falling short of ... - New London Day
Laura Lillian Dickerson sits in the kitchen of her historic Cooke House condo in Norwich late last month. Dickerson, who obtained a sub-prime mortgage to purchase the unit, has been unable to get any help from the state is now facing foreclosure ...

Hard times and long lines for Southern Californians - Los Angeles Times
TOSS-UP: Volunteer Shannon Amparan organizes bags of fruit before a food giveaway at Montebello Park. About 5,000 people showed up. Thousands turn out for separate offerings of free food and mortgage help. Some leave empty-handed. Some sought a cart ...

Citigroup Pays for a Rush to Risk - Blueridgenow.com
“Our job is to set a tone at the top to incent people to do the right thing and to set up safety nets to catch people who make mistakes or do the wrong thing and correct those as quickly as possible. And it is working. It is working.” Click to ...

Banking Regulator Played Advocate Over Enforcer - Washington Post
James Gilleran, former director of the Office of Thrift Supervision, said the agency's goal is to "allow thrifts to operate with a wide breadth of freedom from regulatory intrusion." (By Michael Springer -- Bloomberg News) The benefits were clear ...

Toxic Bear Stearns Mortgage Paper Performing Well - Seekingalpha.com
Don’t look now, but that $30 billion in toxic Bear Stearns mortgage paper the government guaranteed back in March is cash-flowing nicely, thanks very much. From Reuters: Speaking at the Reuters Global Finance Summit, BlackRock President Robert ...

Keeping the faith in a bad economy - Newark Star-Ledger
Rabbi Benjamin Adler hasn't felt particularly helpful lately. Older couples have been talking to him about their vanishing retirement accounts because of the recent havoc in the stock market, and the spiritual leader of White Meadow Temple in ...

Bank regulator played advocate not enforcer - MSNBC
When Countrywide Financial felt pressured by federal agencies charged with overseeing it, executives at the giant mortgage lender simply switched regulators in the spring of 2007. The benefits were clear: Countrywide's new regulator, the Office of ...

As US banks retreat, credit unions step up loans - Economic Times
On November 5, the US Mortgage Bankers Association said its seasonally adjusted mortgage applications index fell in the week ending October 31 to its lowest level since December, 2000. Analysts have said that with the jobless rate at a 14-year high ...

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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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