Archive for August, 2008
Mortgage fraud adds to Bradford & Bingley’s woes
Bradford & Bingley plunged into a £26.7m loss in the first half of the year after it was hit by a rise in mortgage arrears and fraud.
Arrears continued to rise and the outlook remained uncertain as the housing market continued to decline, the troubled lender reported today.
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FRB: Press Release–Annual adjustment of fee-based trigger for additional mortgage loan disclosures
The Federal Reserve Board on Tuesday published its annual adjustment of the dollar amount of fees that triggers additional disclosure requirements under the Truth in Lending Act for home mortgage loans that bear rates or fees above a certain amount.
The dollar amount of the fee-based trigger has been adjusted to $583 for 2009 based on [...]
August 2008 Issue of Condé Nast Portfolio
New York — On June 12, senior editor Daniel Golden disclosed on Portfolio.com that Senators Christopher Dodd and Kent Conrad, among others, were involved with Countrywide Financial in a V.I.P.-loan scandal. In the August issue of Condé Nast Portfolio, Golden takes an exclusive and comprehensive look inside former Countrywide C.E.O. Angelo Mozilo’s secret effort [...]
Read Full Post | Make a Comment ( None so far )Fairinvestment.co.uk reports prepaid credit cards no longer just for bad credit histories
As the credit crunch hits the UK, Fairinvestment.co.uk, leading online comparison site, announces that prepaid credit cards are no longer just for people who have bad credit histories, and could be the answer to those who are looking for the functionality of a credit card but want to avoid the risk of debt.
“A prepaid credit [...]
BrightSale Urges Zero Cost Solution for Housing Crisis
Calls on Government to allow SIPPs to Invest in Residential UK Property to Boost the Housing Market
Gordon Brown and Alistair Darling are under enormous pressure to relieve some of the downwards pressure on the UK housing market. But their options appear to be severely limited. Sir James Crosby’s recent report pretty much killed the idea [...]
Consumer Online Behaviour Is Being Changed By Financial Worries
Brands that fail to embrace and engage in online consumer dialogues are set be amongst those most severely affected by the expected economic downturn.
Released today, research conducted by e-consultancy, Logan Tod and immediate future, reveals that 64% of respondents will reduce their spending generally in view of the deteriorating economic climate. However, 56% said that [...]
Home loans: Mortgage approvals plunge by 65%
The crisis facing Britain’s housing market was highlighted yesterday by figures showing that mortgage approvals have plummeted 65% in the past 12 months while buy-to-let lending has also declined sharply this year.
Only 22,448 mortgages were approved last month, compared with 64,184 in July last year, as lenders continued to restrict mortgage availability and the value [...]
Bankrate: Mortgage Rates Fall But Spreads at 22-Year High
Mortgage rates retreated, with the average conforming 30-year fixed mortgage rate falling to 6.66
percent. According to Bankrate.com’s weekly national survey of large
lenders, the average 30-year fixed mortgage has an average of 0.4 discount
and origination points.
The average 15-year fixed rate mortgage popular for refinancing dropped
to 6.18 percent, while the average jumbo 30-year fixed rate is now [...]
NetMore America Appoints Forward Thinking Mortgage Industry Leader
NetMore an expanding regional mortgage lender, announced today the addition of Lisa Schreiber to its executive management team as the
Company’s new Chief Strategy Officer responsible for defining and
implementing the Company’s vision and strategy to build NetMore into the
next generation mortgage banker. Ms. Schreiber joins NetMore with more than
22 years of extensive mortgage industry experience including [...]
Investors to look elsewhere as BTL sector shrinks
The buy-to-let property boom has come to an end, according to investment company Skandia, as falling house prices, higher mortgage costs and slow rental growth are causing investors to pull out of the market. It is expected that beleaguered buy-to-let investors will pull £18 billion out of the property market in the next few years [...]
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