FDIC's Bair Calls For Better US Mortgage Market Rules (Nasdaq) WASHINGTON -(Dow Jones)- The current problems in the mortgage and credit markets are ample evidence that more rules are needed to police the home mortgage market, Federal Deposit Insurance Corp.
Analyst cuts rating on Ambac Financial on mortgage worries (AP via Yahoo! Finance) An analyst cut his rating on bond insurer Ambac Financial Group Inc. Friday after the company said it lost $1.66 billion during the first quarter amid rising mortgage-related losses.read
Homeowners face 2 bln pound mortgage lock-in (Tiscali) In January, the Financial Services Authority (FSA) gave lenders until the end of February to justify their high mortgage exit fees, also called "discharge", "vacating" or "sealing" fees.read more...
FTSE ends above 5,100 for first time in 3 years The FTSE 100 index closed at a fresh 3-year high on Thursday, ending above 5,100 points for the first time since May 2002, with banks leading for a second session
Habitat group ready to build home in town Seeing a family move into a house he helped build is a reward all its own, volunteer Geoff Taylor said.via
Jobs grow moderately The East Bay had moderate job growth in May and the region's unemployment rate dropped to 4.5 percent, signaling the area continues to participate in a recovering national economy.via
An Alpharetta man arrested in June in an alleged mortgage scam targeting the home of former Atlanta Braves player Ron Gant was sentenced Thursday in Boston to five years in federal prison for conspiring to defraud a Waltham, Mass., company out of $12 million, authorities said.
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