Mortgage and Financial News From 2007-12-25 Page 01
Previous Day: 2007-12-24
Return to the mortgage news archive home.
-
Lazard to advise Centro on debt
The Australian - More than $4 billion was wiped from Centro's market value last week after it slashed its earnings forecast and announced that the tightening in credit markets had made it impossible to refinance $3.9 billion worth of short-term debt. Lazard Carnegie ...
2007-12-25 04:48:00 -
Centro ready to sell assets
News.com.au - The company urgently needs to refinance $3.9 billion in current debt, out of total debt of $17.9 billion. Centro has already set up a data room, which is being used by the group's bankers to keep track of transactions. This data room will in time be ...
2007-12-25 05:49:00 -
Blame abounds for housing bust
The Washington Times - Of four homes for sale a week ago on Henry Watts Loop at Rippon Landing in Woodbridge, Va., two were foreclosures. As house prices fall, home equity is lost, making it hard for owners to sell or refinance adjustable loans that reset to reflect higher ...
2007-12-25 09:34:00 -
More than 13,000 New Yorkers receive settlements in predatory lending ...
Empire State News - ... restitution as a result of a $325 million settlement with Ameriquest Mortgage Co ... practices that Ameriquest may have used to encourage homeowners to refinance ... Eligibility was based on specific, objective information and data contained in the ...
2007-12-25 04:52:00 -
More than 13,000 New Yorkers receive settlements in predatory lending case (Mid-Hudson News)
Albany – More than $18 million is being distributed to 13,686 New Yorkers eligible to receive restitution as a result of a $325 million settlement with Ameriquest Mortgage Co. and its subsidiaries stemming from predatory loan practices.
2007-12-25 05:14:55 -
Cooking cheap not so easy in '08
NorthJersey.com - For cash-strapped consumers already beset by higher gasoline prices and escalating mortgage rates, the hits just keep on coming. This time, it's food. The sharp rise in food prices seen in 2007 is expected to be followed by another higher-than-normal ...
2007-12-25 11:47:00 -
How a development became a Housing debacle
St. Petersburg Times - Few would dispute that low mortgage-interest rates were the roots of the housing boom. For a decade they enhanced the buying power of every home shopper and renter. Then came 2002. "All of a sudden, you almost have to fight off the lenders," said ...
2007-12-25 09:05:00 -
Cooking cheap not so easy in '08 (The Record)
For cash-strapped consumers already beset by higher gasoline prices and escalating mortgage rates, the hits just keep on coming. This time, it's food.
2007-12-25 07:29:28 -
Santa's got a bag of loot for these characters
Denver Post - Now that he's no longer Fed chairman and the mortgage industry is imploding, he's warning that the housing bust could soon ... How about the Hot Wheels Blast and Crash Track Set? • Ed Mattar, convicted on fraud charges stemming from the 1998 ...
2007-12-25 01:56:00 -
Robert Weil close a marker of times
Long Beach Press-Telegram - ... attention of the DRE only when an agent has had a hand in a fraud, such as over- or under-reporting the price of a home. "The nature of the investigations is clearly changing," Pool said. "Now we're seeing more and more cases involving mortgage fraud ...
2007-12-22 03:54:00 -
Failed levy, new Target, fair move among top stories
Elk River Star News - Also, under Chapter 74, also effective as of Aug. 1, 2007, prepayment penalties became banned and borrowers were clearly given the right to sue for damages and costs if a broker or lender broke the law, meaning mortgage fraud is now clearly defined ...
2007-12-24 06:26:00 -
WASHINGTON, Dec. 25
Earthtimes - Mortgage fraud outpacing investigations WASHINGTON, Dec. 25 The number of reported mortgage fraud cases has climbed so quickly that U.S. federal investigators and prosecutors say they can't keep pace. Since 2005, reports of suspected mortgage fraud ...
2007-12-25 09:31:00 -
Mortgage writedowns wound Bear
The Australian - He also said capital ratios should be helped by expected declines in assets since Bear was originating fewer residential mortgages and had cut back its business of financing mortgage companies. Mr Cayne told employees that his confidence in the ...
2007-12-21 03:55:00 -
Temasek sees growth potential in Merrill Lynch
Straits Times - Merrill ousted its former CEO Stan O'Neal in late October after revealing nearly eight billion dollars in writeoffs, mainly related to ailing mortgage investments. Temasek controls some of Asia's best-known companies including Singapore Airlines ...
2007-12-25 08:01:00 -
Beleaguered Merrill Lynch raises $7.5bn with shares and assets sell ...
Times Online - ... in which sovereign funds have taken substantial stakes in Wall Street banks, which are nursing heavy losses from their investments in sub-prime mortgage debt. Citigroup, Morgan Stanley, UBS and Bear Stearns have sold stakes in their companies to ...
2007-12-25 01:20:00