Mortgage and Financial News From 2007-11-7 Page 13

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  • NY state probe of mortgage conflicts hits Fannie Mae, Freddie Mac (The Post-Star)

    ALBANY, N.Y. - New York Attorney General Andrew Cuomo's subpoenas to government-sponsored lenders Fannie Mae and Freddie Mac sent another shock into the home mortgage industry where he said conflicts of interests are costing consumers thousands of dollars because of inflated appraisals.
    2007-11-07 02:58:27

  • Mortgage Brokers President Accused of Sexual Assault (KTAR 92.3 Phoenix)

    The president of the Arizona Association of Mortgage Brokers was arrested Tuesday by Buckeye police on one count of sexual assault. Police lieutenant Mark Mann said Stan Lund assaulted a woman at a Christmas party at his home two years ago.
    2007-11-07 02:08:45

  • Mortgage Traders to Lead Bonus Declines in 2008, Johnson Says (Bloomberg.com)

    Nov. 7 (Bloomberg) -- Mortgage-traders' bonuses may drop by as much as 15 percent after rising U.S. subprime home-loan defaults sparked a slump in demand for the securities, compensation consultant Johnson Associates Inc. said.
    2007-11-07 02:39:57

  • Banks Fight Home Loan Bankruptcy Bill (AP via Yahoo! Finance)

    Mortgage lenders are fighting lawmakers' efforts to enable bankrupt borrowers to reduce the size of their home loans, arguing this change would magnify the housing crisis by driving up interest rates.
    2007-11-07 02:30:44

  • Cuomo subpoenas Fannie, Freddie in mortgage probe (USA Today)

    New York Attorney General Andrew Cuomo announced Wednesday that his office was sending subpoenas to Fannie Mae and Freddie Mac as part of his expanding probe of the home mortgage industry.
    2007-11-07 12:36:43

  • Let rising dollar run its course, economists say

    Globe and Mail - Right now, [Australia and New Zealand] are just booming." Still, both have substantial current account deficits, he ... McGuinty calls for lower interest rates to curb soaring loonie 11:52 AM 73 9. RCMP lay charge in Mountie shooting 12:58 PM 10. China ...
    2007-11-07 09:02:00

  • Stocks tumble as fears on oil and inflation mount

    Financial Times - ... investors worried about whether the Federal Reserve would be able to cut rates in ... as central banks in continental Europe and the UK meet today to consider interest ... an abrupt escalation in oil prices”, could not be ruled out under current trends ...
    2007-11-07 01:27:00

  • Interest-rate rise for our own good, says Peter Costello

    News.com.au - I'm quite happy to say ... what I indicated in the last election campaign was that I believed that our policies would keep interest rates lower than Labor policies. "That is still my view." Assessing the current economic situation, Mr Howard said the ...
    2007-11-06 06:29:00

  • UK house prices set to fall

    Channel 4 News - Although national house prices have continued to soar against a background of higher interest rates, the current boom has been uneven regionally. "The latest figures show an exceptionally buoyant market in Northern Ireland and continued strength in ...
    2007-11-07 09:31:00

  • Safe landing after engine fell off a plane in Cape Town

    Talk Radio 702 - Trade and Industry Minister Mandisi Mpahlwa says the current energy supply and demand challenges facing the country are of great concern. In recent weeks, energy giant Eskom has been forced to conduct loadshedding nationwide in a bid to reduce demand ...
    2007-11-07 09:38:00

  • New record low for dollar

    Miami Herald - One day before the European Central Bank and the Bank of England decide on interest rates, the euro gained more than one cent ... initially introduced on financial markets in 1999 - has risen from a low of 82 U.S. cents in October 2000 to its current ...
    2007-11-07 01:20:00

  • McGuinty says high-flying loonie hurting Ontario economy

    CBC News - Ontario wants the federal government to lower interest rates in an effort to curb the soaring Canadian loonie. The current federal interest-rate policy is "designed to cater to a super-heated petro-dollar" originating with Alberta's oil boom ...
    2007-11-07 09:24:00

  • VIX Rises to Highest Since Fed's Rate Reduction on GM, Dollar

    Bloomberg - Nov. 7 (Bloomberg) -- U.S. options rose to the highest since the day before the Federal Reserve reduced interest rates in ... Investors perceive the current cycle of high equity market uncertainty to be more persistent than normally,'' Mikkelsen ...
    2007-11-07 12:30:00

  • No housing rebound this year: United Tech

    Reuters - CHICAGO (Reuters) - The housing sector is unlikely to recover from its current slump before the fourth quarter of 2008 ... The U.S. housing market has slowed sharply over the past two years, with higher interest rates and slowing demand taking a toll ...
    2007-11-07 11:40:00

  • Another interest rate rise on horizon

    The Australian - The rate increase was the sixth since the last election in 2004 and the 10th in the current policy tightening cycle. Interest rates are at their highest since July 1996 and the average standard variable mortgage is now at 8.57 per cent. The pricing ...
    2007-11-07 06:25:00

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