IFC pledges to provide financing to local SMEs IFC Country Manager Vipul Bhagat disclosed in an interview that the investment arm of the World Bank is currently "negotiating" with a "private group" to provide financing support to SMEs.via
Two Alternatives to Foreclosure Many struggling borrowers may not qualify for the assistance in the housing legislation that is close to becoming law. So people facing foreclosure should familiarize themselves with two other options:
Mortgage broker accused of fraud (The Indianapolis Star) A 37-year-old Chicago man is charged with fraudulently obtaining more than $4 million worth of mortgage loans while he lived in Indianapolis.read more...
Fumes Force Evacuation of Northeast Building Authorities evacuated the International Business Mall in the 1800 block of New York Avenue after several people complained the gasoline smell was giving them headaches and nausea.via
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Lehman to cut 1,300 mortgage jobs (AP via Yahoo! News) Lehman Brothers Holdings Inc. on Thursday said it would cease wholesale mortgage lending in the U.S. because of the continued housing slump, a move that includes 1,300 jobs cuts
“As such there is no pending trigger of any facility conditions that would require immediate repayment”
A second Australian hedge fund has become caught up in the subprime mortgage fallout, with Absolute Capital telling investors it has suspended withdrawals from two funds until October due to a lack of liquidity … via Financial Times
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