Mortgage and Financial News From 2008-7-15 Page 9

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• UAE mortgage market set for massive growth (Mena Report)

  The UAE mortgage market is set for a surge in growth as investors are becoming increasingly reliant on mortgages to purchase property, says Chris Dommett, CEO of leading independent mortgage advisor, John Charcol Dubai.
  2008-07-15 06:22:36

• Financial Firms May Spread Panic to Broader Market - RTTNews Daily Market Analysis (Nasdaq)

  (RTTNews) - The major U.S. index futures are pointing to a sharply lower opening on Tuesday. Panic seems to be the overwhelming sentiment in the markets, as nobody is able to fathom the depth of the credit market crisis.
  2008-07-15 06:30:04

• In Bad Economy, Life Is Good For Repo Man (NBC 6 Miami)

  FORT LAUDERDALE, Fla. -- In a bad economy, fun is often the first casualty. For James Hedrick, that means it's a busy time in his line of work. He's one of those dreaded repo men.
  2008-07-15 06:31:15

• In bad economy, life is good for the repo man (Seattle Times)

  In a bad economy, fun is often the first casualty.
  2008-07-15 06:39:01

• In Bad Economy, Life Is Good For The Repo Man (WPBF Palm Beach)

  A South Florida-based marine repossession company has tripled its business in the past three years as owners default on their loans.
  2008-07-15 06:43:38

• National City reassures investors (Traverse City Record-Eagle)

  Shares of National City Corp. plunged Monday amid broad fears about the health of the nation's regional banks, and the company was forced to issue a statement reassuring investors of its soundness.
  2008-07-15 07:08:33

• Federal Reserve tightens mortgage rules (San Jose Mercury News)

  Faced with an expanding housing crisis, federal officials took steps to shore up the nation's largest sources of mortgage funds at the same time they issued stiffer mortgage rules to prevent a repeat of the subprime debacle.
  2008-07-15 07:11:32

• Fed's Bernanke set for congressional grilling - Houston Chronicle

  For Federal Reserve Chairman Ben S. Bernanke, events keep getting in the way. The chairman is seeing his efforts at using forecasts to map an anti-inflation strategy shoved aside by the need to contain immediate damage to the economy, Fed watchers ...
  2008-07-15 04:29:00

• U.K. Inflation Rate Jumps to Record, Housing Falls (Update1) - Bloomberg

  July 15 (Bloomberg) -- U.K. inflation accelerated to the fastest pace in at least 11 years and the housing slump worsened, making it harder for the Bank of England to stave off a recession by cutting interest rates. Consumer prices climbed 3.8 ...
  2008-07-15 04:36:00

• Taxpayers would pay for mortgage giants' failures - The Columbus Dispatch

  Federal Reserve Chairman Ben Bernanke is becoming the lender of last resort for institutions in trouble because of the mortgage meltdown. WASHINGTON -- Now that the federal government has thrown a lifeline to mortgage giants Fannie Mae and Freddie ...
  2008-07-15 03:10:00

• Fed slaps new rules on mortgage lenders - Los Angeles Times

  Subprime mortgages, designed for borrowers with low incomes or poor credit, carry above-market interest rates to compensate investors for the added risk of default. Among other measures, the new rules bar misleading advertising practices, including ...
  2008-07-15 01:23:00

• Westpac hikes interest rates - News.com.au

  Westpac last of big four to hike mortgage rates It's the bank's sixth rate increase since January More interest rates news in our special secion WESTPAC has joined its major rivals by lifting its standard variable mortgage rate by 14 basis points ...
  2008-07-15 01:23:00

• Washington throws long lifeline - Boston Globe

  The federal government's rescue plan for mortgage-market linchpins Fannie Mae and Freddie Mac got off to a promising start yesterday. An open checkbook can still buy a lot of goodwill. Good thing, too. In 2008, the year of the government bailout, no ...
  2008-07-15 02:13:00

• The Fannie-Freddie Frenzy: Pros Chime In (BusinessWeek Online via Yahoo! UK & Ireland Finance)

  Here, a compilation of various reactions from Wall Street strategists, economists, and key financial bloggers
  2008-07-15 05:30:18

• Arrow Reports a Significant Increase in Earnings and Strong Asset Quality Ratios (PR Newswire via Yahoo! Finance)

  Arrow Financial Corporation announced operating results for the three and six-month periods ended June 30, 2008.
  2008-07-15 05:37:00

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