Mortgage and Financial News From 2008-1-9 Page 17

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• Ex-Executive Shifts Tone About A.I.G. (NYTimes.com via Yahoo! Finance)

  Maurice R. Greenberg, former chief executive of the American International Group, said a group he represents did not intend to solicit proxies from A.I.G. shareholders.
  2008-01-09 06:40:15

• Diamond Bank Listed on London Stock Exchange (This Day)

  Diamond Bank Plc made history yesterday across the shores of the land as it became the first West African Bank to be listed on the Professional Securities Market (PSM) of the London Stock Exchange (LSE).
  2008-01-09 06:40:51

• What to Know If Your Mortgage Lender Goes Belly Up

  Street.Com - Dozens of other mortgage lenders that cater to borrowers with less-than-stellar credit are in a similar fix. This raises important questions for borrowers: What do you do if your mortgage is with one of these sinking companies? Or worse, what if ...
  2008-01-09 08:45:00

• Countrywide shares plunge on foreclosure news

  Financial Times - Mortgage lenders in the US have been hit by falling prices on homes, rising defaults and the higher costs of accessing credit to finance mortgage loans. Countrywide has been badly hit because it was a leading originator of subprime loans and loans to ...
  2008-01-09 02:50:00

• Government tells mortgage lenders to pass interest rate cuts on to ...

  Daily Mail - Gordon Brown and Alistair Darling have warned mortgage lenders they should pass on interest rate cuts to homeowners. The Prime Minister said the firms had a "duty" to pass on the cuts after it emerged almost one in five had not done so. Their ...
  2008-01-09 03:26:00

• Home builder shares fall on lending concerns

  Reuters - Last: BOSTON (Reuters) - Shares of U.S. home builders tumbled to fresh five-year lows on Wednesday as investors worried that rising defaults at mortgage lenders could further hurt home sales. The slide came a day after No. 5 builder KB Home (KBH.N ...
  2008-01-09 02:35:00

• Subprime Mortgage Crisis Causing African-Americans to Experience ...

  Forbes - Racial Bias of Subprime Mortgage Lenders Accounts for 40% Difference in Losses Between Whites and People of Color /ADVANCE/ BOSTON, Jan. 15 /PRNewswire-USNewswire/ -- A new report says the subprime mortgage crisis will cause African-Americans to ...
  2008-01-09 12:34:00

• UAE firms defy debt credit crunch - GulfNews

  UAE firms defy debt credit crunchGulfNews, United Arab Emirates - 3 hours agoThe pipeline of bond issues and syndicated borrowings from the UAE remained strong in the second half of last year although the subprime mortgage crisis in ...
  2008-01-09 02:40:24

• More Bad News For Countrywide - Banking Times

  More Bad News For CountrywideBanking Times, UK - 3 hours agoby Stewart Douglas Troubled US mortgage lender Countrywide Financial has today announced that its loan volumes had fallen by 44% over the course of December ...
  2008-01-09 02:45:08

• Mortgage ace up Brown’s sleeve when the polls beckon - The Herald

  Mortgage ace up Brown’s sleeve when the polls beckonThe Herald, UK - 1 hour agoWere the Bank of England to cut UK interest rates again this lunchtime, what chance all mortgage lenders would pass the impact, in full, on to borrowers? ...
  2008-01-09 04:06:00

• Simmering distrust delays liquidity revival - Financial News Online US

  Simmering distrust delays liquidity revivalFinancial News Online US, UK - 1 hour ago"We saw it in the UK where Northern Rock’s situation started to affect other smaller UK banks and mortgage companies. Concerted central bank action has ...
  2008-01-09 04:07:00

• PI Policy Activity To Increase, Says Flaxman - Insurance Daily

  PI Policy Activity To Increase, Says FlaxmanInsurance Daily, UK - 1 hour ago“Insurers are also seeing more evidence of mortgage fraud, driven particularly by organised crime syndicates, where professional advisers may have been ...
  2008-01-09 04:28:58

• Marks & Spencer shares plunge after poor sales - The Business Magazine

  Marks & Spencer shares plunge after poor salesThe Business Magazine, UK - 1 hour agoFurthermore, a recent survey from the Bank of England showed that lenders have dramatically increased the stringency of their credit checks - indicating ...
  2008-01-09 04:30:52

• Governor Spitzer's State of The State - Hudson Valley Press

  Governor Spitzer's State of The StateHudson Valley Press, NY - 54 minutes agoNew York alone cannot solve a problem of this scale – one created by unscrupulous lenders and a massive federal regulatory failure. ...
  2008-01-09 04:50:53

• Audit finds lax regulation of mortgage lenders - Business Gazette

  Audit finds lax regulation of mortgage lendersBusiness Gazette, MD - 53 minutes agoby Kevin J. Shay | Staff Writer Maryland’s financial regulation office issued licenses to mortgage lenders without proper review by supervisors and did not ...
  2008-01-09 04:51:29

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