Mortgage and Financial News From 2007-9-6 Page 29
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Lenders run tougher checks on borrowers' past
Financial Times - Borrowers are facing tough-er credit checks as lenders try to minimise the risk of defaults following last month's market turmoil. Subprime mortgage lenders have been quick to raise interest rates in recent weeks and, while rates for mainstream ...
2007-09-05 07:02:00 -
Fed Governor Edward M. Gramlich
Washington Post - Much earlier, as chairman of the Neighborhood Reinvestment Corp., he had urged lawmakers to better protect consumers against predatory lending practices and toughen the regulation of mortgage lenders and banks, calling the mortgage process "confusing ...
2007-09-05 10:44:00 -
Treasury to tighten grip on lenders
Raleigh News & Observer - WASHINGTON - Amid tightening credit, rising mortgage defaults and calls for more scrutiny of larger investors, a Treasury Department official told Congress on Wednesday his agency is reviewing rules with an eye toward more regulation of the financial ...
2007-09-06 12:24:00 -
Credit issuers tread with caution
Miami Herald - The stream of credit offers that has filled consumers' mailboxes in recent years may be slowing just a bit. Although credit card issuers and other companies that lend to consumers have escaped the barrage of defaults that mortgage lenders have ...
2007-09-05 11:48:00 -
Credit Card Companies Let Go of Largesse
The Ledger - NEW YORK - The stream of credit offers that has filled consumers' mailboxes in recent years may be slowing just a bit. Although credit card issuers and other companies that lend to consumers have escaped the barrage of defaults that mortgage lenders ...
2007-09-06 02:55:00 -
Local bank ads criticize other lenders
Boston Globe - Trying to turn the ongoing credit crunch to their advantage, some Massachusetts banks are ramping up their criticism of other mortgage lenders. From advertisements that slam Wall Street's "over-zealous investments" in subprime loans to conversations ...
2007-09-06 12:53:00 -
Sen. Dodd proposes mortgage reform bill (Reuters via Yahoo! Asia News)
WASHINGTON (Reuters) - The chairman of the U.S. Senate Banking Committee unveiled legislation on Wednesday that would prohibit mortgage brokers and lenders from steering borrowers to high-cost loans.
2007-09-05 11:43:50 -
Tough Plastic: Lenders quietly change terms of offers (Winston-Salem Journal)
The stream of credit offers that has filled consumers' mailboxes in recent years may be slowing just a bit. Although credit-card issuers and other companies that lend to consumers have escaped the barrage of defaults that mortgage lenders have suffered, they are nonetheless being more careful about whom they lend to, and under what terms.
2007-09-05 11:14:32 -
Sen. Dodd proposes mortgage reform bill (Washington Post)
WASHINGTON (Reuters) - The chairman of the Senate Banking Committee unveiled legislation on Wednesday that would prohibit mortgage brokers and lenders from steering borrowers to high-cost loans.
2007-09-05 01:56:40 -
Local bank ads criticize other lenders (Boston Globe)
Trying to turn the ongoing credit crunch to their advantage, some Massachusetts banks are ramping up their criticism of other mortgage lenders.
2007-09-06 02:58:49 -
Tight labour market fuels interest rate fears
News.com.au - A TOTAL of 31,900 people found employment in August, with a tight labour market adding fuel to expectations that interest rates will rise anytime soon. The unemployment rate was steady at a seasonally adjusted 4.3 per cent in August from July ...
2007-09-05 10:08:00 -
London shares open firmer, BoE rate decision and possible statement in ...
Forbes - Later today, the Bank of England could well issue its first statement alongside an unchanged interest rate decision in more than eight years today, relaying its view about the liquidity squeeze hitting the UK financial system. Under normal ...
2007-09-06 01:43:00 -
JGB futures edge up, ECB rate meeting in focus
Reuters - TOKYO, Sept 6 (Reuters) - Japanese government bond futures edged up on Thursday, inching closer to an 18-month high ahead of a European Central Bank interest rate decision that could reinforce the view that the Bank of Japan will sit tight on ...
2007-09-06 12:24:00 -
Indonesian central bank keeps key rate unchanged at 8.25 pct
Forbes - JAKARTA (Thomson Financial) - The Indonesian central bank said Thursday its board has decided to keep its benchmark interest rate unchanged at 8.25 percent for the second straight month as consumer inflation picks up. 'We see inflationary pressures ...
2007-09-05 11:48:00 -
Japanese Two-Year Notes Advance Before Europe's Rate Decision
Bloomberg - Sept. 6 (Bloomberg) -- Japan's two-year notes advanced on speculation the European Central Bank will leave interest rates unchanged today, increasing pressure on the Bank of Japan to keep borrowing costs from rising this month. ECB policy makers will ...
2007-09-05 11:34:00