Mortgage and Financial News From 2007-12-30 Page 3

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• Stock market ends stunning year, uncertainties abound

  Xinhua News Agency - Beijing is struggling to keep inflation in check and could continue to raise interest rates. Also, the mortgage crisis in the US has raised the risk of a recession that might sap demand for Chinese exports. Jason Zhou, 37, is among the ...
  2007-12-30 04:42:00

• Private lending tipped to push up interest rates

  News.com.au - But higher rates appear to have slowed down the take-up of new home loans compared with the first half of 2007. Total ... Brothers Australia chief economist Stephen Roberts said jitters in financial markets, stemming from the US sub-prime mortgage ...
  2007-12-30 08:31:00

• Savers pay the price of mortgage crisis

  Times Online - Savers were dealt a blow after it emerged that Halifax, Nationwide and Bradford & Bingley are to cut savings rates by more than a quarter-point after the base-rate cut this month. The decision by Halifax and Bradford & Bingley to cut some savings ...
  2007-12-30 01:36:00

• Clinton proposal on foreclosures could help Utah homeowners

  Salt Lake Tribune - Obama introduced legislation targeting mortgage fraud, and Edwards is backing legislation to prevent predatory lending. In various forums, Republican candidates Mitt Romney and Rudy Giuliani have argued that tax cuts would strengthen the economy ...
  2007-12-27 03:55:00

• Editorial: State auditors out to lunch

  San Francisco Examiner - Why not also work with the attorney general’s office to outline how the two offices can work together to prosecute mortgage fraud. Neither office could return information by press time about the number of outstanding cases against lenders, but we ...
  2007-12-27 03:55:00

• Mortgage meltdown: Follow-up on candidates for foreclosure

  San Francisco Gate - Belief that fraud ran rampant in the mortgage lending system is strong, but few have been held accountable to date. That can be seen on a small scale in the four Bay Area stories: While all four homeowners allege that fraud or misrepresentation ...
  2007-12-29 03:53:00

• Mortgage meltdown: Follow-up on candidates for foreclosure (San Francisco Chronicle)

  Foreclosures reshaped the U.S. economic landscape in 2007. A year ago, losing a house to bank repossession still seemed like a rare event, confined to people enduring unfortunate personal circumstances - job loss, divorce, illness, death of a wage earner. But...
  2007-12-30 07:14:39

• Merill Lynch hit with suit

  Silicon Valley - Former shareholders of First Republic Bank sued Merrill Lynch on Friday, alleging the company hid billions of dollars in subprime mortgage-related losses while the two companies' combination was pending. The suit, filed in New York, seeks class ...
  2007-12-29 12:58:00

• Class-action lawsuits soar as investors try to recoup credit losses

  Times Online - ... credit crunch sparked a 58 per cent rise this year in class-action lawsuits filed by American shareholders against companies ... over the bank’s operations “while Morgan Stanley exposed itself to the highly risky and tenous subprime mortgage market ...
  2007-12-30 04:13:00

• Rising unemployment in December confirms deep recession

  India Daily - The rising unemployment rate from 4.4 to 4.8 in any business cycle sends a serious warning signal. Residential construction has fallen for seven consecutive quarters, weakening job growth as builders, mortgage companies and manufacturers reduce staff
  2007-12-30 11:13:00

• Can you bet on our 2008 tips?

  Daily Telegraph - Despite upbeat guidance, it's likely that the UK's largest mortgage lender will be affected by the credit crisis and a decline in mortgage growth. GlaxoSmithKline (£12.81) - BUY GSK is one of the most innovative drug companies around and has several ...
  2007-12-30 03:45:00

• Australia Mortgage-Backed Bond Sales Fall 87% to Three-Year Low

  Bloomberg - The slump in demand cut three straight years of growth in Australia's mortgage-backed debt market and thwarted predictions from companies including Standard & Poor's that sales would rise to a record A$60 billion. Investors concerned about losses ...
  2007-12-29 03:53:00

• Alliance & Leicester's pre-Christmas mortgage trio

  MyFinances.co.uk - Alliance & Leicester is unveiling three new mortgage deals before Christmas in the shape of residential, buy-to-let and PlusMortgage products. The mortgage lender is also cutting the standard variable rate (SVR) for existing customers by 0.2 ...
  2007-12-30 03:02:00

• Corporate Earnings: A 2008 Bright Spot?

  BusinessWeek - For housing, the hope is more limited: that the deep decline finally ends in home prices and housing and mortgage activity. The tough housing market has hurt not just homebuilders but other companies that rely on consumer spending. According to ...
  2007-12-30 06:22:00

• Unemployment May Rise, Factories Slow: U.S. Economy Preview

  Bloomberg - Residential construction has fallen for seven consecutive quarters, weakening job growth as builders, mortgage companies and manufacturers reduce staff. The collapse of the subprime mortgage market in August hastened firings at financial ...
  2007-12-30 11:56:00

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