Mortgage and Financial News From 2008-5-29 Page 01
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Too few borrowers talk to lenders: Treasury's Steel - Reuters
WASHINGTON (Reuters) - Too many distressed American borrowers are still reluctant to talk to their mortgage lenders about changing their loan terms because of a lack of financial education, a top U.S. Treasury official said on Wednesday. Robert Steel ...
2008-05-28 06:16:00 -
House price data adds confusion to an already volatile market - Daily Telegraph
The 2.5pc fall in Nationwide's monthly house price index could hardly have been worse for the UK's beleaguered homeowners - unfortunately, worse is exactly what it was. Dig below the seasonally adjusted figures and the raw data reveal that the ...
2008-05-29 10:57:00 -
Mortgage-Broker Study Finds High Fees Charged - Wall Street Journal
The home-mortgage industry takes advantage of consumers' confusion to charge some people much higher fees than others, according to a study prepared for the Department of Housing and Urban Development. The study by Susan Woodward, a former chief ...
2008-05-29 08:48:00 -
Mortgage Insurers Report Monthly Jump In Mortgage Defaults - CNN Money
CHICAGO -(Dow Jones)- Home loans reported as delinquent to a mortgage insurer trade group surged in April, when a major home lender tightened up its policy for reporting past-due mortgages. The Mortgage Insurance Companies of America said Friday that ...
2008-05-29 09:09:00 -
Banknotes: Customer service rankings of BofA, Wachovia (The Charlotte Observer)
In another set of customer service rankings out this week, Bank of America Corp. knocked crosstown rival Wachovia Corp. out of the top spot. The annual survey, released Thursday by J.D. Power and Associates, polled more than 3,000 consumers who had recently obtained a home equity loan or line of credit. On a 1,000-point scale, Bank of America scored the highest with 811. Wachovia, which had ...
2008-05-29 09:13:30 -
PSC gives Duke OK for nuclear spending (The State)
Duke Energy customers in South Carolina could be on the hook for up to $64.4 million in development costs for two nuclear reactors the Charlotte utility is considering building in Cherokee County. The S.C. Public Service Commission voted unanimously Thursday to allow Duke Energy to spend up to $230 million from 2005 through 2009 studying, designing and preparing the site for the project. The ...
2008-05-29 09:19:38 -
10 crucial steps to short-sale buying (The Nashua Telegraph)
There are very few active buyers in the real estate market these days -- but every one of them seems to be looking to buy a foreclosure or a short sale. ...
2008-05-29 09:19:50 -
New Overdue Home Loans Swamp Effort to Fix Mortgages in Default (Bloomberg.com)
May 30 (Bloomberg) -- Newly delinquent mortgage borrowers outnumbered people who caught up on their overdue payments by two to one last month, a sign that nationwide efforts to help homeowners avoid default may be failing.
2008-05-29 09:29:21 -
April insured mortgage defaults rise (EARTHtimes.org)
NEW YORK (Reuters) - Defaults on privately insured mortgages rose sharply in April, showing homeowners continue to struggle to keep up with loan payments.
2008-05-29 09:45:21 -
AmTrust Bank to reduce work force by 5 percent in all markets (Akron Beacon Journal)
AmTrust Bank will be cutting its work force by 5 percent, the Cleveland bank said Thursday in a news release. The financial institution, formerly known as Ohio Savings Bank, said it had been taking ''proactive measures to manage through the economic conditions that have affected the housing markets, with reduced loan volume across the country. As a result, the organization has undertaken a ...
2008-05-29 10:43:01 -
Cape home buying opportunity knocks (Cape Cod Times)
The Cape Codder Resort in Hyannis will host one six regional Opportunity Knocks housing fairs being held in the state tomorrow for aspiring homeowners.
2008-05-29 11:10:27 -
By Jon Stewart News-Post Staff (The Frederick News-Post)
MYERSVILLE -- A gathering to boost support for a Middletown chamber attracted about 40 people to Musket Ridge Golf Club on Wednesday afternoon. A group of Middletown area business professionals is working to have the chamber up and running by September.
2008-05-29 11:13:11 -
UK May inflation expectations hit new record - YouGov/Citigroup poll ... - FXStreet.com
LONDON (Thomson Financial) - The UK public's expectations of inflation hit another new high in May, giving rate-setters further cause for concern, a survey by Citigroup and pollsters YouGov showed. The general public's median expectation for CPI ...
2008-05-28 04:35:00 -
Most recent economic data 'pointing down' Havard's Feldstein - Marketwatch
WASHINGTON (MarketWatch) -- The most recent data show that the U.S. economy is shrinking, said prominent economist Martin Feldstein. "I would say the indicators in general are pointing down...virtually every indicator is headed down," Feldstein said ...
2008-05-29 11:44:00 -
Investors increase bets on US rate rise - Financial Times
Investors increased their bets on Wednesday that rising oil prices would force the Federal Reserve to raise US interest rates this year, pushing the yield on the 10-year Treasury bond above 4 per cent for the first time since January. The move came ...
2008-05-28 01:47:00