Mortgage and Financial News From 2007-10-30 Page 4

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  • Highlights of RBI policy (rediff.com)

    Bank Rate, Repo Rate and Reverse Repo Rate kept unchanged The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholly or partially, is retained. CRR increased by 50 basis points to 7.5 per cent effective fortnight beginning November 10, 2007. GDP growth forecast retained at 8.5 per cent during 2007-08.
    2007-10-29 11:55:05

  • Credit Policy : Rates unchanged, CRR hiked (Business Standard India)

    Reserve Bank of India (RBI) today left all the key rates unchanged. The Bank Rate (6%), Repo Rate (7.75%) and Reverse Repo Rate (6%) have all been left unchanged in the half-yearly review of the monetary policy today.
    2007-10-29 11:47:18

  • Negative equity warning over 100% mortgages as repossessions set 'to jump 75%' (Evening Standard)

    House repossessions will rise by 75 per cent this year and as first-time buyers have been warned of the risk of negative equity, ahead of the worst property crisis for a decade.
    2007-10-30 03:44:39

  • Senior Alert: Reverse Mortgage Offers (KRGV-TV Texas)

    Senior citizens over the age of 62 whose homes carry little or no mortgage debt may receive offers for a specialized loan called a reverse mortgage. Under these arrangements, eligible homeowners are promised an up-front cash payout with no obligation to repay the loan.
    2007-10-30 10:46:33

  • Countrywide shareholders sue CEO Mozilo, board

    Reuters UK - ... at Countrywide reached a 5-year peak in March 2007, four months before the company posted a 33 percent drop in second ... which rising interest rates have forced tens of thousands of homeowners nationwide to default on adjustable-rate mortgages. ...
    2007-10-30 05:35:00

  • Seattle Bank Announces Board of Director Election Results

    Forbes - ... and financial services enable more than 375 member institutions to provide their customers with greater access to mortgages ... are subject to known and unknown risks and uncertainties, which are discussed in the Seattle Bank's Form 10-Q for second ...
    2007-10-30 02:58:00

  • UPDATE 6-UBS Q3 loss more than expected, Q4 seen better

    Reuters - UBS is the second global bank to report a third quarter loss after U.S. investment bank Merrill Lynch (MER.N: Quote , ... more than $20 billion on holdings in mortgage-backed securities which have been hit by a meltdown in U.S. subprime mortgages ...
    2007-10-30 02:08:00

  • Rock chief quits second job

    Guardian Unlimited - Rock chief quits second job Phillip Inman Tuesday October 30, 2007 The Guardian ... He denied any flaws in the bank's business model, which relied on wholesale funds to back its mortgages. He also denied his ...
    2007-10-30 01:22:00

  • Mud, sweat and tears

    Guardian Unlimited - ... technology means companies can reach only about 10% of deposits, but even that makes the Athabasca oil sands the second ... You can treble your salary, buy two homes, dig a swimming pool, pay off your mortgages 20 years earlier than anyone else and ...
    2007-10-30 05:14:00

  • Greenspan warns of further pain for US property prices

    Guardian Unlimited - These regions were hugely dependent on so-called "jumbo sub-prime" mortgages - loans which were over $417,000 and have now ... As such we suspect that the Fed will be cutting rates beyond today's meeting with rates possibly cut below 4% by the second ...
    2007-10-30 05:14:00

  • Merrill Begins C.E.O. Search

    New York Times - ... operating performance of its businesses, which the firm last week reported were performing well, apart from subprime mortgages ... O’Neal’s $46.4 million pay package made him Wall Street’s second-highest paid chief executive, behind Lloyd C ...
    2007-10-30 05:07:00

  • Help wanted: Merrill Lynch CEO

    CNN Money - ... reasons Merrill hasn't lined up anyone just yet to lead the firm out of the crisis sparked by large losses from junk mortgages ... And the new Merrill head won't be able to ignore the stock price for a second. If the stock continues to sag, Merrill will ...
    2007-10-30 03:48:00

  • Cramer's 'Mad Money' Recap: Bank on Banco Bradesco

    Street.Com - Lower interest rates are great for Brazil's banks, because "credit cards and mortgages are a recent discovery" for the country ... Second, it has fewer bad loans as a percentage of total loans. Third, BBD is the market leader in asset management ...
    2007-10-30 05:28:00

  • US: Departing CEO O'Neal to leave Merrill Lynch with exit package ...

    MSN UK News - O'Neal, the second-highest paid Wall Street CEO in 2006, retired from Merrill Lynch & Co. Inc. on Tuesday, almost a week ... by a US$7.9 billion (euro5.48 billion) third-quarter writedown, as the company revalued assets backed by shaky mortgages. O ...
    2007-10-30 01:03:00

  • How To Burn Down Your House

    Sky.com - On every occasion that I witnessed, properties were seized by providers of second mortgages, secured loans or subprime mortgages. So, don't automatically assume that your home is safe, simply because you are able to keep up repayments on your main ...
    2007-10-28 05:59:00

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