Mortgage and Financial News From 2008-8-25 Page 01
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U.S. seizes IndyMac Bank - Baltimore Sun
LOS ANGELES - IndyMac Bank's assets were seized by federal regulators yesterday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. The bank is the largest regulated thrift to fail and ...
2008-08-24 11:27:00 -
Home sales rise 3.1% in July, Realtors group says - Los Angeles Times
WASHINGTON -- Sales of existing homes rose 3.1% in July, surpassing expectations, as buyers snapped up deeply discounted properties in parts of the country hit hardest by the housing bust. The number of unsold properties hit an all-time high, however ...
2008-08-25 07:18:00 -
Written OK required for 'short sale' - AZCentral.com
Question: Two months ago, I signed a contract to purchase a home in Peoria for $178,000. The amount of the seller's mortgage was $200,000, so the contract was contingent on the seller's mortgage lender approving a "short sale," because the seller's ...
2008-08-24 01:21:00 -
2 plead not guilty to data scam at Countrywide - International Herald Tribune
LOS ANGELES : A former senior analyst for Countrywide Home Loans and another man have pleaded not guilty in an alleged scam to download and sell customer data from the mortgage lender. Ex-Countrywide employee Rene L. Rebollo Jr. of Pasadena and Wahid ...
2008-08-25 05:59:00 -
Asian Stocks Fall on Credit Concerns, Earnings; Banks Decline - Bloomberg
Aug. 26 (Bloomberg) -- Asian stocks fell, led by financial companies, on renewed speculation widening credit-market losses will dent earnings growth. Mitsubishi UFJ Financial Group Inc. slumped 3.1 percent in Tokyo after Credit Suisse Group said ...
2008-08-25 09:12:00 -
JGB futures inch up as credit jitters hit stocks - Guardian Unlimited
TOKYO, Aug 26 (Reuters) - Japanese government bond futures climbed towards a four-month high on Tuesday as renewed worries about the health of the U.S. financial sector spooked investors and spurred selling of stocks. Gains were limited after JGBs ...
2008-08-25 06:42:00 -
Economic recovery still a long way off, Bank of England chief warns - Daily Telegraph
The world economy has a "long way to go" before it recovers from the worst crisis since the 1970s, the deputy governor of the Bank of England has warned. Charles Bean said that there is little prospect of an economic recovery until well into next ...
2008-08-25 03:22:00 -
Hungary to keep 3 pct inflation target -report - Forbes
BUDAPEST, Aug 25 (Reuters) - Hungary's central bank and finance ministry are likely to retain the country's 3 percent medium-term inflation target, daily Nepszabadsag reported on Monday. The two bodies have marked the end of August as a deadline for ...
2008-08-25 12:27:00 -
Home Sales Rise but Risks Persist - Wall Street Journal
U.S. sales of previously owned homes rose a healthy 3.1% in July from the previous month, but growing inventories of unsold homes and rising mortgage interest rates continue to thwart a full housing-market recovery. DAILY ECONOMICS NEWSLETTER Sign up ...
2008-08-25 08:15:00 -
Woolworths expects growth to slow - News.com.au
GROCERY giant Woolworths has admitted economic uncertainty will hold back growth in the current year despite a 25.7 per cent jump in its 2007/08 annual profit. Woolworths (wow.ASX: Quote , News ) today reported a net profit of $1.63 billion for the ...
2008-08-25 06:42:00 -
Interest rates set to fall - News.com.au
INTEREST rates will fall over the next year but are unlikely to drop to the lows seen at the start of the decade, economic forecaster BIS Shrapnel says. In its Long Term Forecasts, 2008 to 2023 report, BIS Shrapnel has tipped a return to strong ...
2008-08-24 02:54:00 -
General Reader Forums - Manhattan Mercury
Bob, "What if" a plumber went into a home where there was smoking?" Would he be required to work there? That's the weakest excuse for an argument I've ever heard! Are you kidding me? That has nothing logical to do with the present petition for ...
2008-08-25 04:30:00 -
Dollar mixed in thin European trading - Marketwatch
LONDON (MarketWatch) -- The dollar extended its momentum from last week, gaining ground against the euro Monday as conviction grew among investors and traders that U.S. interest rates are likely to remain on hold. The British pound was the standout ...
2008-08-25 04:30:00 -
Brokered CDs Pose Risks, Rewards - Smart Money
CERTIFICATES OF DEPOSIT bought through a brokerage usually offer higher yields and can afford some welcome liquidity, but they come with pitfalls, especially if the issuing bank goes belly up. When you buy a CD directly from a bank, you're opening an ...
2008-08-25 12:44:00 -
Dollar mixed vs. rivals in recent ranges - Marketwatch
, , ) , which tracks the greenback against a trade-weighted basket of currencies, stood at 76.819, narrowly up from 76.813 in late North American trading on Friday. "For now, we expect range-trading and consolidation to continue, but we believe that ...
2008-08-25 01:41:00