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Mortgage News

News on Mortgage continually updated from thousands of sources around the net.

2 hrs ago | Express India

Freddie Mac posts $5 bn loss

Reuters Posted: Saturday, Nov 07, 2009 at 1524 hrs IST Updated: Saturday, Nov 07, 2009 at 1524 hrs IST New York: Freddie Mac, the second largest provider of US residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.

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Related Topix: Home, Mortgage, Personal Finance

10 hrs ago | www.washingtonpost.com | mortgagenews

Fed losing support for bank oversight role

Key Democratic lawmakers are threatening to dismantle the Obama administration's plans to place the Federal Reserve at the heart of efforts to overhaul the financial regulatory system

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13 hrs ago | problembanklist.com | mortgagenews

Fourth Largest Banking Failure Of 2009 Costs FDIC $1.4 Billion | Problem Bank List

Regulators closed 5 additional failed banks today. The largest failed bank of the week was United Commercial Bank, San Francisco, CA which had $11.2 billion in assets. United Commercial was the 4th largest banking failure this year in terms of total assets and the fifth largest in terms of total loss to the FDIC.

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Related Topix: California, MO

13 hrs ago | The Plain Dealer

You've seen the TV ads. So what is Ally Bank?

Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.

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Related Topix: Home

Fri Nov 06, 2009

CBS News

Analysis: 10 Percent Jobless Is Obama's New World

For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent.

1 comment

Related Topix: US Politics, US News, 2008 Presidential Election, Barack Obama, George Bush, Home, Opinion

The Age

Fannie Mae seeks $16.5b in aid after loss

US state-controlled mortgage lender Fannie Mae posted another multibillion-dollar quarterly loss and said it needed an additional $US15 billion in taxpayer funds.

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Related Topix: Home, Mortgage, Personal Finance

Clover Herald

Ahead of the Bell: Consumer Credit

Consumers likely reduced their borrowing for an eighth straight month in September, as layoffs continue and credit remains tight.

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Related Topix: Home

www.latimes.com | mortgagenews

Fannie Mae to allow borrowers in foreclosure to lease back homes

The mortgage giant's move is part of an attempt by lenders to keep a wave of foreclosed properties from slamming a housing market that has shown some signs of recovery.

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Related Topix: Financial Services, Fannie Mae, Foreclosures, Home, Mortgage, Personal Finance, Home Listing, Housing

Cleveland.com

Ohio Attorney General Richard Cordray and mortgage serving company exchange lawsuits

Ohio Attorney General Richard Cordray and a mortgage servicing company filed dueling lawsuits Thursday over state allegations that the firm misled and gouged borrowers while restructuring their loans.

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Related Topix: Ohio, Home, Mortgage, Personal Finance, Cuyahoga County, OH

Thu Nov 05, 2009

CBS 5

Student Loan Debt Burdens Recent Grads

It's a scary time to be a recent college graduate. Jobs are scarce and many grads are sitting on mountains of debt.

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Related Topix: Becker College, Home, Mortgage, Personal Finance, Family, Kids, Boston University

Seattle Times

Bank of England faces key stimulus decision

The Bank of England's injection of 175 billion pounds into the economy hasn't yet pulled Britain out of recession, and the central bank now faces a difficult decision on whether to raise the stakes.

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Related Topix: Home

New York City's Hometown Newspaper - ...

Time to buy? Mortgage rates drop below 5%

A half-renovated Victorian era home is offered for sale in the Angelino Heights neighborhood.

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Related Topix: Personal Finance, Home, Mortgage, Walpole, MA

Mortgage Fraud News

Woman charged with ID Theft and mortgage fraud

In the following press release Michigan Attorney General Mike Cox today announced that his office has filed charges against a Wyoming, MI woman accused of defrauding the Michigan State Housing Development Authority by fraudulently obtaining a mortgage, defaulting on that mortgage and leaving taxpayers to pick up the ta b. Maria Antonia Franks ...

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Related Topix: Home, Mortgage, Personal Finance, Wyoming, MI

Wed Nov 04, 2009

RTE Business

Fed sees rates near zero for extended period

The US Federal Reserve tonight expressed growing confidence that an economic recovery was building, even though it stuck to its commitment to keep borrowing costs near zero for 'an extended period'. As expected, the Fed kept its benchmark federal funds rate unchanged in a range of zero to 0.25%, and said the US economy had 'continued to pick up' ...

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Related Topix: Home, Ben Bernanke

Examiner.com

GMAC Financial Services 3Q loss narrows

GMAC Financial Services, the main lender for General Motors Co. and Chrysler Group LLC, said Wednesday its loss narrowed to $767 million in the third quarter, as its auto lending unit made money while its home mortgage unit reported another loss.

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Related Topix: Home, Mortgage, Personal Finance, US News, US Treasury

Thepress.co.uk

Northern Rock says it expects a 'significant improvement' despite losses in mortgage arrears

Nationalised Northern Rock has said that it expected a "significant improvement" in second-half trading as growth in mortgage arrears slowed.

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Related Topix: Home, 9

SanLuisObispo.com

Fed likely to keep key interest rate at record low

Faced with lurking dangers to the budding recovery, Federal Reserve policymakers are sure to leave a key interest rate at a record low to entice Americans to spend more and help the economic turnaround gain traction.

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Related Topix: Ben Bernanke, Home, Mortgage, Personal Finance

Tue Nov 03, 2009

RDBMagazine.com

Rate of refinance activity slows in September

Fannie Mae and Freddie Mac refinanced more than 3.5 million mortgage loans in 2009 through September of this year.

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Related Topix: Personal Finance, Home, Mortgage

BBC News

Bank 'optimistic' despite loss

The bank said there is room for 'cautious optimism' Northern Bank has reported a loss of 7.5m for the third quarter of 2009.

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Related Topix: Home

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