US mortgage lender slashes jobs (BBC News) Countrywide, the biggest US mortgage lender, will cut up to 20% of its staff, as business slumps.read more...
Fidelity's Reynolds urges automatic 401(k) enrollment Fidelity Investments' chief operating officer, Robert Reynolds, said Thursday that companies should automatically enroll workers in 401 plans to help them save for retirement -- an idea that looks to
Democrats Propose Measure To Help Subprime Borrowers Sen. Charles Schumer and Rep. Barney Frank say they will move to allow Fannie Mae and Freddie Mac to temporarily increase their portfolios to help borrowers with subprime loans refinance
GMAC Commercial Mortgage Corporation Provides $70 Million in Refinancing for a New York Office Building (Business Wire via Yahoo! Finance) GMAC Commercial Mortgage Corporation has provided $70,000,000 in fixed-rate refinancing for a New York, N.Y., office building.read more...
Oil price slide leads declines on TSX, NY higher ahead of earnings reports The Toronto stock market moved lower Tuesday morning, led by a drop in energy stocks as oil prices fell sharply.Commentread more...
American Home hit as mortgage fallout widens (Boston Globe) American Home Mortgage Investment Corp. shares fell 15 percent after the company's loans attracted few bids from investors, fueling concern that losses at subprime lenders are spreading to higher-rated credits.read
LONDON (Thomson Financial) – Net mortgage lending picked up in June after dropping for three consecutive months, while mortgage approvals and consumer credit remained steady since May, figures from the Bank of England showed today.
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