Abbey cutting mortgage rates (Channel 4)
One of the UK’s biggest lenders announced it was cutting some of its mortgage rates in response to the Bank of England’s liquidity scheme.
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Utica board debates progress in school review Eight weeks after the New York Commission of Investigation released findings of its review into the Utica school district's $8.85 million building project of 1998, board members and the community
Never, Ever Ordinary You know you're not in an ordinary Lake Shore Drive apartment when you're ferried up in an elevator whose door is decorated with a replica of Picasso's "The Dream" suspended
India raises key short-term lending rate on inflation concern The Reserve Bank of India announced a surprise 0.25 points hike in key short-term lending rates to 5.0 percent on concern that high oil prices will stoke inflation in Asia's
Free credit reports now available Florida residents can order their credit reports three ways: By going online at www.annualcreditreport.com . The report will appear right away after entering information.via
CalHFA Additional Benefit for Borrowers Makes Mortgage Payments in Cases of Job Loss (Business Wire via Yahoo! Finance) SACRAMENTO, Calif.----Dec. 6, 2005--When you purchase a home and use a loan and mortgage insurance from the California Housing Finance Agency , you get something extra: peace of mind.read
Bank of England Hopes Gilt Works The BOE's King launched a historic intervention plan that will allow U.K. banks to swap assets for gilts. But will it work?read more...
April 30th, 2008
April 30th, 2008
Fed Cuts Key Rate By Quarter-Point
“Financial markets remain under considerable stress and tight credit conditions and deepening housing contractions are likely to weigh on economic growth over the next few quarters”
The Federal Reserve has cut a key interest rate by a quarter-point, a smaller move than the aggressive easing it undertook earlier this year. via WBNS
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April 30th, 2008
Study Finds That Subprime Mortgage Crisis Has Spurred More Securities Lawsuits (Canadian Business)
WASHINGTON (AP) – The ongoing housing slump and subprime mortgage crisis have sent more unhappy shareholders to federal court. The number of securities class action suits filed last year increased to 163, up from 109 in 2006, according to a study released Tuesday by PricewaterhouseCoopers.
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April 30th, 2008
Fitch Affirms $114.4MM & Downgrades $35.6MM from 3 Meritage Mortgage . Loan Trust Subprime Deals (InfoBolsa)
Loan Trust Subprime Deals 28/04/2008 17:22:00 Business Wire Fitch Ratings has taken the following rating actions on Meritage Mortgage Loan Trust mortgage pass-through certificates.
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April 30th, 2008
Fitch Affirms $114.4MM & Downgrades $35.6MM from 3 Meritage Mortgage (2º) (InfoBolsa)
Loan Trust Subprime Deals 28/04/2008 17:22:00 Business Wire Deal Summary—Originators: Meritage Mortgage Corporation (100%)—60+ day Delinquency: 33.85%—Realized Losses to date (% of Original Balance): 3.41% Meritage Mortgage Loan Trust 2004-2—$1.2 million class M-1 affirmed at AA+ ;—$30.3 million class M-2 affirmed at AA+ ;—$20.2 million class M-3 affirmed at AA ;—$14.7 million …
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April 30th, 2008
Carney warns about loosening mortgage standards (CTV.ca)
Bank of Canada governor Mark Carney is concerned about the loosening standards in the Canadian mortgage system, particularly the growing popularity of mortgages amortized over a 40-year period.
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April 30th, 2008
Mortgage rates creep up again (Bankrate.com)
Mortgage rates moved up modestly again this week. The benchmark 30-year fixed-rate mortgage increased 5 basis points, to 6.16 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point.
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April 30th, 2008
H&R Block Closes Sale of Option One Mortgage Servicing Business to Affiliate of WL Ross & Co. LLC. (Centre Daily Times)
H&R Block Inc. (NYSE:HRB) today announced that it closed the sale of the mortgage loan servicing business of its Option One Mortgage Corporation (“OOMC”) subsidiary effective April 30, 2008. As previously announced, the purchaser was American Home Mortgage Servicing, Inc. (“American Home”), an affiliate of WL Ross & Co. LLC. Proceeds of the transaction at closing were approximately $1.3 billion.
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April 30th, 2008
H&R Block closes sale of mortgage unit (AP via Yahoo! Finance)
H&R Block Inc. closed the sale of mortgage-loan servicing unit Option One to an affiliate of billionaire investor Wilbur Ross, the tax preparer said Thursday.
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April 30th, 2008
BoC governor Carney warns about loosening mortgage standards in Canada (Canadian Business)
Julian Beltrame, The Canadian Press April 30, 2008 – 6:12 p.m. OTTAWA - Bank of Canada governor Mark Carney is concerned about the loosening standards in the Canadian mortgage system, particularly the growing popularity of mortgages amortized over a 40-year period.
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