Mortgage and Financial News From 2008-6-26 Page 9
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Did Bear Fool the Street, Too? (BusinessWeek)
Prosecutors are probing whether two hedge fund managers misled banks as well as investors
2008-06-26 07:45:14 -
FNC(R) Technology to Streamline Appraisal Process for DC-Based Bank (PR Newswire via Yahoo! Finance)
The largest financial institution founded, owned, and headquartered in the Washington-Baltimore metropolitan area will use FNC® technology to streamline its multi-channel appraisal process at the wholesale, retail, and servicing levels.
2008-06-26 08:03:00 -
Lenders agree to fee settlement (Edwardsville Intelligencer)
An Illinois state court has approved a class action settlement against Accredited Home Lenders for overcharging on fees.
2008-06-26 08:38:57 -
Fleetwood Reports Financial Results for Fiscal 2008 Fourth Quarter ... - MSN MoneyCentral
Consolidated revenues for the quarter declined 26 percent to $363.5 million from $488.3 million in last year's fourth quarter. Benefiting from profitable asset dispositions, the Company reported $18.0 million in consolidated operating income compared ...
2008-06-26 02:57:00 -
ING Direct to intensify attack on Australia banks - Reuters
SYDNEY (Reuters) - Australia's sixth-largest home lender, Dutch-owned ING Direct, aims to almost double its market share in three or four years as its online business model makes deeper inroads into the major local banks. ING Direct, a unit of Dutch ...
2008-06-26 01:59:00 -
As bad as it gets: mortgage expert lets a ray of light into the market ... - Guardian Unlimited
An eco show home in Wallington, Surrey. Ray Boulger of John Charcol mortgage brokers said there were reasons for optimism. Photograph: Cate Gillon/Getty Images Britain's mortgage market appears to be in meltdown, with first-time buyers going on ...
2008-06-26 07:07:00 -
California Atty. Gen. Jerry Brown sues Countrywide - Los Angeles Times
The nation's largest mortgage lender, Countrywide Financial, and its founder, Angelo Mozilo, above, are being sued by California and Illinois for allegedly misleading consumers into taking on risky home loans. Shareholders, meanwhile, are scheduled ...
2008-06-25 09:56:00 -
FACTBOX-Global interest rates in 2008 - Reuters
LONDON, June 24 (Reuters) - Denmark's central bank raised its key one-week interest rate by 10 basis points on May 16 to 4.35 percent from 4.25 percent. As a result, the average rate set by 11 leading central banks -- the five that decide monetary ...
2008-06-24 03:21:00 -
Fed is signaling aggressive rate cuts are over, unclear about when ... - Minneapolis Star Tribune
WASHINGTON - The Federal Reserve's aggressive period of cutting interest rates to keep the country from falling into a recession is over. That point is in general agreement. The trouble starts when you try to figure out what period the Fed has now ...
2008-06-26 12:26:00 -
Fed Sounds Inflation Alarm, Moves Toward Rate Rise (Update1) - Bloomberg
June 26 (Bloomberg) -- The Federal Reserve is sounding the alarm on inflation without committing to raise interest rates. The Federal Open Market Committee left its benchmark rate at 2 percent yesterday and said ``upside risks'' to prices have picked ...
2008-06-26 01:45:00 -
Commercial-Mortgage Bond Sales May Reach 12-Year Low (Update2) - Bloomberg
June 26 (Bloomberg) -- Sales of bonds backed by commercial real estate loans may fall to the lowest level since at least 1996 as investor demand for the debt slumps. Commercial-mortgage backed securities offerings dropped to $12.2 billion in the ...
2008-06-26 05:56:00 -
BoE's King-dollar pegs add to inflation pressure - Forbes
LONDON, June 26 (Reuters) - Inappropriately low interest rates in countries that peg their currencies to the dollar are helping to fuel commodity price inflation, Bank of England Governor Mervyn King said on Thursday. Worries over global inflation ...
2008-06-26 06:31:00 -
Bank policymakers soothe rate concerns - International Herald Tribune
LONDON : Bank of England policymakers calmed market expectations of early interest rate rises, saying on Thursday that they wanted to avoid a marked economic slowdown which might pull the inflation rate below target. While several Monetary Policy ...
2008-06-26 04:51:00 -
Banks should fear a rate hike - CNN Money
NEW YORK (CNNMoney.com) -- If the outlook for the banking industry worsens in the months ahead, the Federal Reserve may have something to do with it. Members of the Fed's policy-setting committee, which left interest rates untouched Wednesday, left ...
2008-06-26 04:51:00 -
UK rate-setters confirm they considered rate hike at June 5 meeting - Forbes
LONDON (Thomson Financial) - Rate-setters at the Bank of England confirmed that they considered raising interest rates at their most recent meeting but held back for a variety of reasons. Tim Besley, viewed as the most hawkish member of the nine ...
2008-06-26 04:51:00