Mortgage and Financial News From 2008-9-10 Page 9
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US government takes on big role in mortgage market (Park Hills Daily Journal)
WASHINGTON (AP) — Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market.
2008-09-10 06:28:09 -
Assessors Say Property Values Strong In Slumping Economy (The Cape Cod Chronicle)
HARWICH – Property values here are stable, deputy assessor David Scannell told selectmen Monday night during a tax classification hearing in which selectmen agreed to assess all properties at the same rate. Scannell said the anticipated tax rate is $6.25 per $1,000 valuation, a 3.3 percent increase.
2008-09-10 07:46:13 -
Lehman licks wounds on UK home loans (Reuters via Yahoo! UK & Ireland News)
Lehman Brothers' plan to sell $4 billion (2.3 billion pounds) of British mortgages as part of a survival strategy follows an aggressive bet on riskier UK mortgages in the last three years that has misfired.
2008-09-10 09:29:00 -
Lehman licks wounds on UK home loans (Interactive Investor)
Wed 10 Sep, 2008 16:29
2008-09-10 09:43:13 -
Fannie, Freddie Takeover Jolts Preferred Market as Prices Fall - Bloomberg
Sept. 10 (Bloomberg) -- Treasury Secretary Henry Paulson 's takeover of Fannie Mae and Freddie Mac is roiling the market for preferred securities. Prices of fixed-rate preferred stock fell an average of 9 cents to 71.5 cents on the dollar this week ...
2008-09-10 12:44:00 -
Lehman Faces Mounting Pressures - Wall Street Journal
Lehman Brothers Holdings Inc. came under mounting pressure Tuesday after hopes faded for an investment deal with a Korean bank, helping to trigger a 45% fall in the firm's shares. Lehman's troubles mark the latest installment in the worst financial ...
2008-09-10 02:52:00 -
Fannie Mae and Freddie Mac takeovers hits home - New York Daily News
Freddie Mac, with headquarters in McLean, Va., and sister mortgage giant Fannie Mae now have a new boss: the federal government. In its most drastic attempt yet to shore up the collapsing housing market, the government officially took control of ...
2008-09-06 05:59:00 -
Stocks head for higher open after sell-off, ahead of quarterly results ... - Allentown Morning Call
NEW YORK (AP) _ U.S. stocks headed for a moderately higher open Wednesday a day after a sell-off and as investors awaited an announcement from Lehman Brothers Holdings Inc. about its plans to shore up its balance sheet. Unease about the No. 4 U.S ...
2008-09-10 03:57:00 -
Lehman on the brink - what will it cost you? (New York Daily News)
Want a federal bailout? Get in line. Lehman is far from the only financial institution in trouble. The FDIC says it's closely watching 117 problem banks at risk of insolvency. Those banks control about $78 billion in assets. What will more bailouts cost the taxpayer?
2008-09-10 08:07:17 -
The Hidden Bailout Of $1.4 Trillion In Fannie / Freddie Credit-Default Swaps (GoldSeek.com)
Something extraordinary happened on Monday, September the 8 th , 2008. The government takeover of Fannie Mae and Freddie Mac triggered the pending settlement of $1.4 trillion in credit-default swaps.
2008-09-10 09:04:27 -
Democrats pushing 2nd stimulus package (KABC-TV Los Angeles)
Democrats are trying to push a second stimulus package through Congress.
2008-09-10 09:08:02 -
Ship Finance In Gibraltar (Mondaq)
Gibraltar, by virtue of its excellent geographical location, is one of the most historically renowned and important ports in Europe.
2008-09-10 09:19:20 -
Could Another Stimulus Check Be Coming? (WCVB Boston)
Congressional Democrats say another stimulus is in order.
2008-09-10 09:20:17 -
Lehman tries to soothe Wall Street with asset sale (The Arizona Republic)
Banking firm plans to sell a majority stake in its prized investment management business.
2008-09-10 09:40:12 -
Florida deals singe area banks - Chicago Tribune
Palatine -based First Bank and Trust Co. of Illinois , which bills itself as "Chicago's Step Ahead Bank," is suing two Florida developers in Broward County , claiming that a $7.8 million loan it made in October 2006 for a four-story, 11-unit ...
2008-09-09 11:53:00