Mortgage and Financial News From 2008-3-4 Page 7

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  • Bernanke: US housing slump could get worse (The Herald)

    Ben Bernanke, the chairman of the Federal Reserve, yesterday warned that the worst US housing slump in 25 years would worsen as foreclosures increase and he urged banks to forgive portions of mortgages for more borrowers whose home values have plunged.
    2008-03-04 04:21:28
  • Battling farmers told: quit the land (Whyalla News)

    FEDERAL drought relief is keeping inefficient farmers on the land and it is time to stop the handouts, the Government's top agricultural forecaster declared yesterday.
    2008-03-04 04:21:35
  • Fool's gold for Brown? Criticism mounts over sale of precious metal (Guardian Unlimited)

    With the price up 250%, many are questioning Brown's decision as chancellor to sell half of Britain's gold reserves
    2008-03-04 04:26:38
  • Housing market slowing in Europe (BBC News)

    House price growth across Europe slowed sharply in the second half of 2007, according to a report.
    2008-03-04 04:35:36
  • SE Financial Corp. Announces First Quarter 2008 Results (Centre Daily Times)

    SE Financial Corp. (trading symbol: SEFL) (the "Company"), the holding company for St. Edmond's Federal Savings Bank, announced a net loss of $27.6 thousand for the three months ended January 31, 2008 as compared to a net loss of $68.8 thousand for the same period in the prior year.
    2008-03-04 04:37:54
  • New car sales drop as exports achieve record (Daily Dispatch)

    RECORD vehicle exports and truck sales in February helped cushion a 15% crash in new car sales from a year ago.
    2008-03-04 04:40:58
  • Reuters Canada Business Summary (The Globe and Mail)

    OTTAWA (Reuters) - In its first interest rate decision under new Governor Mark Carney, the Bank of Canada sounded a gloomy warning on the U.S. economy on Tuesday by slashing its key rate by a half point, the biggest cut since 2001, and signaling more to come.
    2008-03-04 04:46:21
  • Global economic future uncertain: RBA (North Queensland Register)

    The Reserve Bank of Australia (RBA) says the global economic situation remains uncertain. RBA assistant governor of economic Malcolm Edey says there is "significant uncertainty" in the outlook for global growth.
    2008-03-04 04:57:57
  • Forest City Closes $100 Million Refinancing for the Promenade ...

    Forbes - Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) today announced that it has closed on a $100 million loan with The Prudential Insurance Company of America to refinance The Promenade Bolingbrook, a 736,000 square-foot open-air town center in ...
    2008-03-03 04:35:00
  • Fitch Rates Mattel's $350MM Sr Unsecured Notes 'BBB'

    Forbes - Fitch has assigned a rating of 'BBB' to the $350 million note due 2013 by Mattel, Inc. which is expected to be issued this week. The funds will be used to refinance commercial paper and for general corporate purposes.
    2008-03-04 10:46:00
  • Families flock to foreclosure fairs

    Forbes - One couple said the same broker who had written their loan in 2005 promising he would help them refinance it to a 30-year fixed rate when the teaser rate of two percent expired refused to take their calls.
    2008-03-04 03:18:00
  • Banks could do more, Fed boss says

    News.com.au - The Fed chairman told representatives of the Independent Community Bankers of America that in instances where it is not possible to refinance a home loan, the "next-best solution" may be some type of loss-mitigation arrangement between a lender and a ...
    2008-03-04 01:52:00
  • ABC extends trading freeze, sale talks

    News.com.au - One analyst last week also told The Courier-Mail the business itself appeared solid, was unlike other financial engineers and did not need to continually refinance.
    2008-03-04 03:18:00
  • US Q4 home prices drop; 1st consecutive drop since 1982

    Reuters - The financial market turmoil that started in the third quarter continued into the fourth, making it harder to get mortgage financing for a home purchase or refinance and foreclosures continued to rise, putting additional stress on the inventory of ...
    2008-03-04 01:16:00
  • Bernanke Urges Banks to Forgive Portion of Mortgages (Update6)

    Bloomberg - In the past, homeowners could refinance, though that option is now ``largely'' gone because sales of bonds backed by subprime mortgages ``have virtually halted,'' Bernanke said. ``This situation calls for a vigorous response.
    2008-03-04 03:10:00