Mortgage and Financial News From 2008-6-11 Page 01
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A cold market for jumbo loans shows signs of a thaw - Los Angeles Times
When the federal government enacted rules in February to help borrowers get big mortgages, Rick Garcia hoped he'd finally be able to refinance his West Hills home. The 35-year-old veterinarian started looking for a new mortgage six months ago but ...
2008-06-11 09:44:00 -
Prisoner gets longer sentence for bay area fraud - St. Petersburg Times
Story Tools TAMPA — A former Hillsborough County mortgage broker already in prison for committing fraud in Chicago received a second federal sentence on Wednesday for pulling off a similar scam in the Tampa Bay area. Luis Javier Uribe, 28, of ...
2008-06-11 08:04:00 -
Oil prices grease stocks' big fall - Los Angeles Times
NEW YORK -- A sharp rebound in oil prices sent the stock market into its latest tailspin Wednesday, as worries mounted that the Federal Reserve might have to raise interest rates to stem inflationary pressures. The Dow Jones industrial average lost ...
2008-06-11 09:08:00 -
US steps in to ensure students find loans - Boston Globe
NEW YORK - A US program to support college-education lenders is ensuring students will get the government-backed financial aid they need for the 2008-2009 academic year, after a seizure in the credit markets threatened the flow of funding. At ...
2008-06-11 09:08:00 -
Mortgage cloud's silver lining: Tighter lending will head off abuses - Cleveland Plain Dealer
If there's anything good to come out of the mortgage mess that has devastated homeowners and crippled the economy in the past year, it will be a crackdown on lending that will prevent a lot of abuse in the future. That was a resounding theme ...
2008-06-11 04:00:00 -
This Bud May Be for the Belgians - BusinessWeek
After weeks of mulling an offer for Anheuser-Busch ( BUD ), Belgian brewer and soft drinks giant InBev made an unsolicited offer to acquire the U.S. parent company of Budweiser beer for $65 a share, or $46 billion. The St.Louis brewer reported on ...
2008-06-11 05:05:00 -
Lampert Puts Money On Housing Rebound - Wall Street Journal
Billionaire hedge-fund manager Edward S. Lampert is placing new bets on a U.S. housing recovery, buying stakes in beaten-up home builders, mortgage lenders and a home-improvement retailer. Mr. Lampert's ESL Investments Inc., which owns half of ...
2008-06-11 08:47:00 -
The man who beat the SEC - CNN Money
Low-fee investing: Goldstein works out of his basement in New York's Westchester County, so he takes client meetings nearby at the Pleasantville Diner. The king of closed-end funds: Goldstein (right) with his partners in Bulldog Investors - Andrew ...
2008-06-11 04:33:00 -
The Future of Remarketing - Auto Remarketing
PHOENIX — At the recent iRemarketing conference, one of the presentations took an interesting turn, looking in the rearview mirror to see where technology was a decade ago, where it is today and where it may be in another 10 years. Leading the ...
2008-06-11 01:52:00 -
Dangers of an Underreported CPI - New American
Free PDF of NAU Issue The Consumer Price Index (CPI) measures the average price of consumer goods and services purchased by households. The government uses the CPI to “calculate inflation.” Changes over the past 40 years to the CPI “to better ...
2008-06-11 10:17:00 -
UPDATE 1-Fed's Kroszner:consumers may need more protections - Reuters
CLEVELAND, June 11 (Reuters) - U.S. Federal Reserve Board Governor Randall Kroszner said on Wednesday that requiring more disclosures about some features of complex credit products may not be enough to protect consumers, and it may be better to ban ...
2008-06-11 12:54:00 -
Average Washington wage: $44,721 - Seattle Post Intelligencer
The average annual wage in Washington grew 5 percent last year to $44,721. That growth rate fell short of the 5.4 percent jump from 2006 to 2007. The jump translates to an extra $42 per week, according to the Employment Security Department. The ...
2008-06-11 03:10:00 -
Aggressive marketing campaign for mortgage insurance - Barbados Advocate
THE City of Bridgetown Credit Union Limited (C.O.B) is embarking on an aggressive marketing campaign to encourage members with mortgages or loans, or those looking to get either of the two, to avail themselves of their new insurance offering. On ...
2008-06-11 05:55:00 -
Tanger Outlets closes on $235 million term loan - CNN Money
NEW YORK (Associated Press) - Outlet-center operator Tanger Factory Outlet Centers Inc. said Wednesday it closed on a $235 million unsecured three-year term loan. Proceeds will be used to repay the company's only remaining mortgage loan, with a ...
2008-06-11 02:42:00 -
Wife mortgaged to loan shark - Times of India
BEHRAMPORE: You could call it Bengal’s heart of darkness. Unable to repay a loan he had taken for his wedding, a Murshidabad man ‘mortgaged’ his wife and vanished. For two years, the woman was allegedly raped and kept confined in the ...
2008-06-11 03:39:00