Posts filed under 'Mortgage Loans'
Why Bailouts Stink and Why We Need Them - BusinessWeek
Congress and the White House moved with surprising speed (measured by Washington legislative time, of course) last month to pass a bill aimed at bailing out the U.S. housing and mortgage markets. Like all legislation these days, the 694-page bill
Merrill’s chief defends recent sale - International Herald Tribune
John Thain said he had to do something to stop the bleeding at Merrill Lynch. A week after he stunned Wall Street by selling billions of dollars of toxic mortgage investments for pennies on the dollar, Thain defended his decision on Monday, saying he
August 5th, 2008
U.S. mortgage applications plunge in MBA survey - Providence Business News
WASHINGTON The number of mortgage applications filed nationwide plummeted last week to its lowest level this year, the Mortgage Bankers Association said today in its weekly report. The trade group s seasonally adjusted Market Composite Index
Q: What exactly will the legislation do? - MSNBC
A: It will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home’s current value. The FHA will insure a total of $300 billion of the loans over a three-year period
July 31st, 2008
National Australia Cuts Bond Sale as Investors Balk (Update2) - Bloomberg
July 29 (Bloomberg) — National Australia Bank Ltd. , the nation’s biggest by assets, slashed a planned A$850 million ($812 million) bond sale by two-thirds after credit-market losses triggered a three-day, 19 percent slump in the stock. The
Merrill Lynch forced to take emergency action ahead of writedown - Times Online
Merrill Lynch sought to bolster its balance sheet and reduce its risk last night when it announced moves to raise $8.5 billion ( 4.27 billion) and the sale of $11.1 billion worth of high-risk mortgage-backed securities. The group said it would
July 29th, 2008
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