Mortgage and Financial News From 2008-7-11 Page 01
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Housing crunch drags UK close to recession... - Gulf Daily News
LONDON: Ten years ago, Britain tried to talk itself into a recession - and failed. The worry is that it might succeed this time. Back then, the economy was under the gun because of another financial crisis - one that started in Asia and spread to ...
2008-07-11 08:04:00 -
Regulators Seize IndyMac - Huffingtonpost.com
Compare 08:41 PM EST 08:34 PM EST 07:59 PM EST 07:10 PM EST 07:09 PM EST 06:56 PM EST 06:38 PM EST and 08:41 PM EST 08:34 PM EST 07:59 PM EST 07:10 PM EST 07:09 PM EST 06:56 PM EST 06:38 PM EST versions LOS ANGELES — IndyMac Bank's assets were ...
2008-07-11 05:48:00 -
U.S. seizes IndyMac as financial troubles spread - International Herald Tribune
WASHINGTON : U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history. California-based IndyMac, which specialized in a ...
2008-07-11 08:25:00 -
Fannie Mae, Freddie Mac Turmoil Pose New Economic `Headwind' - Bloomberg
July 12 (Bloomberg) -- The slides in Fannie Mae and Freddie Mac , the largest providers of U.S. mortgage financing, threaten to deepen the economic slowdown by curbing credit to a housing industry already in its worst recession in 25 years. The two ...
2008-07-11 09:08:00 -
Bank 'likely' to keep interest rate at 5% - Metro.co.uk
Homeowners and businesses hoping for an interest rate cut as economic gloom mounts are unlikely to gain any cheer from Bank of England policymakers today. Fears over rising inflation mean the Bank's Monetary Policy Committee (MPC) is likely to leave ...
2008-07-10 01:14:00 -
Regulators Take Over Failing Mortgage Lender - Washington Post
Federal regulators yesterday took over struggling mortgage lender IndyMac Bank , the second-largest failure ever of a U.S. financial institution. IndyMac, which staggered this week under a run on deposits, will reopen on Monday under federal control ...
2008-07-11 08:33:00 -
No relief for homeowners as interest rates are held at 5% for third ... - Daily Mail
The Bank of England held interest rates at five per cent today, providing little relief to homeowners and businesses battling to cope with increasing economic gloom. Borrowing costs have now not been changed by the Bank's Monetary Policy Committee ...
2008-07-10 03:59:00 -
Stock Markets Rally After Early Morning Sell-Off: Fannie Mae, Freddie ... - Washington Post
Senior government officials prepared emergency steps yesterday to rescue troubled mortgage giants Fannie Mae and Freddie Mac but stopped short after a campaign of public statements eased immediate concerns about the stability of the institutions. But ...
2008-07-11 08:25:00 -
Raise rates as quickly as possible - Fed's Hoenig - Reuters India
KANSAS CITY, Mo. (Reuters) - The Federal Reserve should raise interest rates toward their "neutral" setting as quickly as reasonably possible to prevent high inflation taking root, a top Fed policy-maker said on Wednesday. "To the extent that the ...
2008-07-09 02:08:00 -
ECB says current rates will help ensure medium-term price stability - CNBC
FRANKFURT (Thomson Financial) - The European Central Bank said its current level of interest rates will help it achieve its medium-term price stability goal. The ECB raised its main refinancing rate to 4.25 percent from 4.00 percent at its July 3 ...
2008-07-10 01:07:00 -
IndyMac Seized by U.S. Regulators; Schumer Blamed for Failure (Bloomberg.com)
July 12 (Bloomberg) -- IndyMac Bancorp Inc. became the second- biggest federally insured financial company to be seized by U.S. regulators after a run by depositors left the California mortgage lender short on cash.
2008-07-11 09:56:30 -
Could Freddie and Fannie be fini? / ON YOUR STREET: Intervention by feds may have huge impact on homeowners and ... (San Francisco Chronicle)
The worsening plight of Fannie Mae and Freddie Mac set off alarm bells this week, as the ailing government-sponsored enterprises threaten to drag down the housing market further. The congressionally chartered companies were created to increase home ownership...
2008-07-11 10:03:55 -
U.S. Senate passes mortgage-rescue bill (Fort Worth Star-Telegram)
The plan faces revisions from the House and opposition from the White House.
2008-07-11 10:04:59 -
Local housing market could get even tighter (Fort Worth Star-Telegram)
As concern about mortgage buyers increases, the local housing market could get even tighter for buyers and sellers.
2008-07-11 10:05:39 -
U.S. Senate passes mortgage-rescue bill (Fort Worth Star-Telegram)
By JULIE HIRSCHFELD DAVIS WASHINGTON — A mortgage rescue to help hundreds of thousands of struggling homeowners avoid foreclosure and get more affordable, safer loans passed the Senate overwhelmingly Friday, but it faces a bumpy road amid continuing turmoil in the housing market. The 63-5 vote reflected a keen interest by Democrats and Republicans to send election-year help to distressed ...
2008-07-11 10:08:30