Mortgage and Financial News From 2008-2-27 Page 18

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  • Fannie Has $3.55 Billion Fourth-Quarter Loss Amid Housing Slump

    Bloomberg - The publicly traded companies profit by holding mortgages and mortgage bonds as investments and by charging a fee to guarantee and package loans as securities.
    2008-02-27 05:45:00

  • Fannie Mae posts $3.6 billion loss

    CNBC - Rising delinquencies and foreclosures have led the companies to write down values of mortgage securities they own and increase reserves to cover their guarantees of payment on bonds held by investors.
    2008-02-27 05:38:00

  • Lending companies cut online advertising

    ZDNet - It's no wonder with companies like LendingTree and Countrywide struggling in a housing crisis. From January 2006 to January 2007, credit and mortgage advertisers raised their spending by 24 percent, but this year, their spending has risen only 3 ...
    2008-02-27 03:58:00

  • U.K. Stocks Drop, Led by HBOS, Alliance & Leicester; BA Falls (Bloomberg.com)

    Feb. 27 (Bloomberg) -- U.K. stocks declined, led by HBOS Plc. The U.K.'s biggest mortgage lender dropped the most since the company was formed in 2001 after saying corporate lending is slowing and profit margins are declining.
    2008-02-27 05:41:17

  • Help hard to get for troubled U.S. home owners (Muzi)

    As the U.S. housing crisis deepens, major lenders say they will help borrowers avoid foreclosure, but nonprofit groups and others say their actions are not living up to their promises.
    2008-02-27 05:42:18

  • MainSource Financial Group and 1st Independence Financial Group, Inc. Announce Definitive Agreement (Marketwire via Yahoo! Finance)

    MainSource Financial Group, Inc., Greensburg, Indiana, 1st Independence Financial Group, Inc., and 1st Independence Bank, Inc., a wholly owned subsidiary of 1st Independence, jointly announced today the signing of a definitive agreement on February 26, 2008, to merge 1st Independence into MainSource. As a result of the merger, 1st Bank will become a wholly owned subsidiary of MainSource. The ...
    2008-02-27 05:43:00

  • Fannie Has $3.55 Billion Fourth-Quarter Loss Amid Housing Slump (Bloomberg.com)

    Feb. 27 (Bloomberg) -- Fannie Mae, the largest source of money for U.S. home loans, posted a $3.55 billion loss in the fourth quarter as the failure of homeowners to keep up with their mortgage payments dragged down the value of the company's assets.
    2008-02-27 05:51:35

  • Fannie Mae posts $3.6 billion loss (Washington Post)

    NEW YORK (Reuters) - Fannie Mae , the largest provider of financing for U.S. home loans, on Wednesday reported a $3.6 billion quarterly loss as the housing slump deepened.
    2008-02-27 05:56:28

  • (AFX UK Focus) 2008-02-27 13:18 GMT: Paris shares down lunchtime hit by earnings disappointments; Bouygues leads way (Interactive Investor)

    PARIS (Thomson Financial) - Share prices were lower at lunchtime as a series of disappointments on the European corporate earnings front dragged on investor sentiment, adding to the negative mood generated by spiralling oil prices and a weak dollar. Bouygues was the main faller in the CAC-40 index, after the construction group missed consensus estimates with its ful-year earnings figures.
    2008-02-27 05:56:38

  • European Stocks, U.S. Futures Decline; Asian Shares Advance (Bloomberg.com)

    Feb. 27 (Bloomberg) -- European stocks dropped for the first time this week after record oil prices and earnings reports from HBOS Plc and Bouygues SA reignited concern that profits will slump as inflation accelerates.
    2008-02-27 05:58:19

  • Clinton promotes clean energy jobs in blue-collar Ohio town

    Cleveland Plain Dealer - Obama wants a tax credit covering 10 percent of annual mortgage interest payments for "struggling homeowners" and a fund for mortgage fraud victims.
    2008-02-25 03:56:00

  • Real Estate Foreclosures Forecast to Double

    OpEdNews.com - Creative new adjustable rate mortgages and subprime loans have acted to artificially inflate housing markets in the majority of states throughout the country combined with an epidemic of mortgage fraud.
    2008-02-26 08:09:00

  • Across the area

    Augusta Chronicle - Mortgage fraud earns man 6 months in jail An Evans man must serve six months in federal prison for mortgage fraud, a judge ruled Monday. Daniel Goodwin, 42, must pay $25,710 in restitution, spend four months in home detention once he is released and ...
    2008-02-26 12:41:00

  • Oil prices fluctuate in narrow range after climbing toward $100 a ...

    Minneapolis Star Tribune - NEW YORK - Oil prices fluctuated slightly Monday after climbing close to $100 a barrel earlier in the session. ... signs of recession Mosaic has perfect formula for growth Miami still has some catching up to do Come again! Sept. 9: Mortgage fraud ...
    2008-02-25 07:42:00

  • Fitch Announces Various Rating Actions on Mortgage Insurers

    Forbes - Additionally, this phenomenon has created an incentive to 'walk away' from mortgage debt for those borrowers whose current estimated home values are below their current mortgage balances. Fraud has also played a key role.
    2008-02-25 09:01:00

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