Senate Finally Acts to Help Borrowers
Reversing months of inaction in a single day, the Senate recently passed two major bills that could help thousands of homeowners struggling with unaffordable mortgages or heading for foreclosure.
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UPDATE: Jefferies & Co. Eyes Mortgage-Backed Securities Amid Turmoil (Nasdaq) SAN FRANCISCO (Dow Jones) -- Shrugging off any residual worries about the meltdown in the housing market, Jefferies & Co. is expanding into mortgage- backed securities, the Jefferies Group subsidiary
Flathead events center gets new roof Flathead County's new fairgrounds event center will be getting a new roof this week.via
Housing starts tumble Housing starts dropped a steeper-than-expected 17.1 per cent to their lowest level in a year and a half, suggesting Canada's red-hot housing market may be cooling.read more...
Bear Stearns falters serving hedge funds "The big funds want a relationship that cuts across the bank, where prime brokerage is an entry point for them for banking, financing and other services." Bear Stearns Cos.
M Stanley cuts 600 mortgage jobs (Financial Times) Morgan Stanley on Tuesday said it would cut 600 jobs as it restructured its mortgage business to reflect lower loan origination levels.read more...
GM sells the majority interest in mortgage group in $9 bil deal (The Arizona Republic) DETROIT - A day after offering buyouts worth thousands of dollars to its union workers, General Motors Corp., struggling with big losses, slow sales and high labor costs, said Thursday