Is Any Company Safe from Subprime Related Lawsuits?
Monday, June 30th, 2008…He cites as examples appraisers, “fee hungry” mortgage brokers, and
real estate agents who participated in putting home buyers into subprime
mortgages they could not afford.
There may also be, as Lenckus
puts it, an unknown number of “widget manufacturers”
which bought various mortgage- backed financial instruments as
investments that must now be devalued. This will impact the company’s
bottom line and provide an impetus for shareholder suits.
Even
companies that did not invest in subprime instruments
may be vulnerable…
Treasury’s Paulson Says Fed’s Role Must be as a Stabilizer
Monday, June 30th, 2008Speaking to journalists en route to Berlin, Treasury Secretary
Henry Paulson said that his speech on July 2 will focus
on the Federal Reserve’s role as a macro stability regulator.
Paulson said that speech will focus on the Federal Reserve’s process
for intervening in financial affairs and that any
intervention by the Fed must be paired with market discipline.
How Much House Can You Afford?
Monday, June 30th, 2008Debt-to-Income Ratios
To determine your maximum mortgage amount, lenders use guidelines called debt-
Dallas Fed Mfg Index Declines in June
Monday, June 30th, 2008Texas business activity declined further in June
according to the Dallas Fed’s manufacturing report on Monday, whose
business activity index fell to -24.1 from May’s -10.3.
“Several indicators for current conditions declined from May levels
and turned negative,” read the report. “Despite June’s slowdown, more
than a third of manufacturers responding to the survey expect increases
in production and volume of new orders six months from now.”
What You Need To Know About Mortgage Loans
Sunday, June 29th, 2008Majority of loans are . The fee charged against your credit card is an unsecured loan. The individua
Canada housing market
Friday, June 27th, 2008Conditions in the Canadian housing market remain “favorable,” with overall prices risin
A (house) hunting we will go…
Thursday, June 26th, 2008If you google home mortgage you’ll come up with about 23,800,000 results. That’s a lot
You Can Avoid Foreclosure and Keep Your Home
Thursday, June 26th, 2008Losing a home can be financially and personally devastating. Here’s information to help you ke
And Yet the Sale of Countrywide is Going to Happen
Thursday, June 26th, 2008The sale of Countrywide Mortgage to Bank of America
absorbed another blow this week as three states took legal action against
the lender.
The attorneys general of California and Illinois and the Washington
State department that regulates financial institutions all filed
lawsuits against Countrywide on Tuesday alleging variations on
the theme of mortgage fraud.
In addition to the three new lawsuits, other legal
problems for Countrywide continue to surface…
Fed Creates Two New Entities for Risk Management and Communication
Thursday, June 26th, 2008The New York Fed created two new entities on Thursday in an effort to
improve the bank’s risk management and communications
among regional and community banks.
The Communications Group “was created in recognition of the increasing
roles and responsibilities of the communications and regional and
community affairs area in the Bank…