Mortgage and Financial News From 2008-3-31 Page 6
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Northern Rock Slides To Loss In FY07; Expects Significant Loss In FY08 - Update (Nasdaq)
(RTTNews) - Monday, UK mortgage lender Northern Rock Plc (NHRKF.PK) reported that it slipped to a loss in its fiscal 2007 from a profit last year, mainly reflecting exceptional costs related to its strategic review and the impact of deteriorating market conditions.
2008-03-31 05:17:01 -
Bush prods Congress before Europe trip (AP via Yahoo! News)
On his way out of the country, President Bush stopped long enough Monday to tell Congress what to do what while he was away: pass legislation he wants on matters of trade, housing and terrorist surveillance.
2008-03-31 05:28:02 -
Northern Rock swings to loss, hopes to break even in 2011 (Market Watch)
Northern Rock, the nationalized U.K. mortgage lender, swung to a net loss of 199 million pounds ($398 million) in 2007, and doesn’t expect to break even for another four years.
2008-03-31 05:35:20 -
Daly City foreclosure rate highest in county (The San Francisco Examiner)
Daly City's large number of immigrants buying their first homes is driving up the rate of foreclosures in San Mateo County, according to housing experts.
2008-03-31 03:12:32 -
ABCP buyback too big for broker (The Globe and Mail)
Canaccord Capital Inc.'s capital position would be severely affected if it were to buy back the $269-million in frozen commercial paper its clients hold, but the company is working on a plan that would see clients receive a portion of their money back, according to an internal e-mail.
2008-03-31 03:13:25 -
Is the US financial market mature? (rediff.com)
The '90s' dotcom bubble and the recent mortgage crisis raise doubts about the maturity of the US financial market.
2008-03-31 03:13:59 -
Our view: Slowing foreclosures drags out mortgage crisis (Eagle-Tribune Online)
There's a fine line between government action aimed at helping in a crisis and unwarranted interference in free markets. A bill supported by state Rep. William Lantigua, D-Lawrence, and others to create a six-month moratorium on foreclosures crosses that line.
2008-03-31 03:15:55 -
Restoring rating system is part of solution (Salem Statesman Journal)
"... let me assert my firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance."
2008-03-31 03:26:18 -
Irish Feb Private Sector Credit +15.6%, Lowest Since 2003 (The Forex Market)
DUBLIN (Dow Jones)--The rate of Irish private sector credit growth slowed in February, rising 15.6% on the year, which was the slowest rate of growth since September 2003 and was down from revised 16.6% growth in January, the Central Bank of Ireland said Monday.
2008-03-31 03:28:34 -
New mortgage programs kicking in (The Santa Rosa Press Democrat)
NORTH BAY In mid February, Congress and President Bush raised the caps on federally backed mortgages, hoping to provide relief to high priced housing markets such as the North Bay.
2008-03-31 03:30:02 -
Trichet, King May Support Fed as Ammunition Runs Low (Update1) (Bloomberg.com)
March 31 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke has so far shouldered most of the burden of saving the global economy and financial markets. He may be about to get more help.
2008-03-31 03:34:31 -
Eliminate Credit Card Debt (The Bradford Era)
(ARA) - You've heard the old adage, pay down your credit card debt each month to avoid the nasty interest rate charges and fees that result from revolving balances.
2008-03-31 01:16:49 -
CREDIT SQUEEZE (The Sarasota Herald-Tribune)
As the Federal Reserve takes interest rates lower, credit card rates continue to soar.
2008-03-31 01:38:39 -
Buyers' revenge: Trashing house after foreclosure (Baltimore Sun)
Eddy Buompensiero noticed eight pairs of shoes outside the door of the modest house on Mother of Pearl Street, evidence that the former owners were still living there even though the bank had foreclosed.
2008-03-31 01:44:13 -
U.S. Treasury set to announce regulatory overhaul (Reuters.co.uk)
WASHINGTON (Reuters) - Treasury Secretary Henry Paulson will reveal in full sweeping new plans on Monday for streamlining a hodgepodge of regulation faulted for permitting the U.S. mortgage crisis to balloon into a full-blown economic threat.
2008-03-31 02:04:29