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Second Mortgage Loans Newssecond mortgage loansThat represents 2.8% of all outstanding loans, up from 1.4% of all loans during the same period a year ago, according to a report released Friday by the Mortgage Bankers Association (MBA). And 490,000 of the 45 million home mortgages serviced by MBA ... Read moreRecord 1.2 million homes hit by foreclosure - CNN MoneySpence Cole from Vancouver, Canada writes: And so ends the most recent cycle of free money, absent covenants and lending against expectations and promises rather than assets and cash flow. Given that it was access to cheap home equity loans that ... Read moreMortgage bailout aimed at stemming financial crisis - Globe and MailIn its most dramatic market intervention in years, the U.S. government seized two of the nation's largest financial companies, taking direct responsibility for firms that provide funding for around three-quarters of new home mortgages. Treasury ... Read moreU.S. Seizes Mortgage Giants - Wall Street JournalSept. 8 (Bloomberg) -- Washington Mutual Inc . plans to oust Kerry Killinger as chief executive officer after 18 years and replace him with Alan Fishman of Meridian Capital Group, the Wall Street Journal reported. An announcement is expected today ... Read moreWaMu to Replace CEO Killinger With Meridian's Fishman, WSJ Says - BloombergThe source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. In this May 9, 2008 file photo, a ... Read moreDelinquencies, foreclosures rise to more than 9 percent of US home ... - Grand Forks HeraldWASHINGTON (AP) -- Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles. With Congress returning this coming week ... Read moreAutomakers seek government loans - MSNBCSept. 8 (Bloomberg) -- Lehman Brothers Holdings Inc. Chief Executive Officer Richard Fuld shuffled the top ranks of his firm for the third time in four months as he negotiates with outside investors to shore up capital and sell mortgage assets ... Read moreLehman Shuffles Top Management for Third Time in Four Months - BloombergWASHINGTON — The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers ... Read moreHome loan troubles break records again - FOX NewsJAPANESE officials today hailed the US takeover of ailing mortgage giants Fannie Mae and Freddie Mac, saying the move would help contain trouble on global financial markets. "This will remove one factor causing instability in the US economy and have ... Read moreJapan welcomes US mortgage rescue - News.com.auWASHINGTON — The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers ... Read more |
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