News

2007

September

06
  • FCC may ban cable exclusivity deals. ederal regulators appear set to crack down on cable companies that sign exclusive deals with apartment and condominium buildings, denying residents the fruits of emerging pay-TV competition. Federal Communications Commission Chairman Kevin Martin is recommending…
  • Home-equity loans dry up. When James Chou's credit card debt began to spin out of control a few years ago, he turned to a home-equity loan to pay it off. It proved to be a wise choice. Interest rates…
05
  • No more credit line sharing. A sea change in credit scoring could deflate your magic number: Fair Isaac, which calculates the widely used FICO score, recently announced that it would no longer recognize authorized-user accounts. Popular with families, the accounts…
  • Piden flexibilidad a prestamistas. La Reserva Federal y otras agencias reguladoras pidieron ayer a las empresas prestamistas que sean flexibles con sus acreedores, para evitar que éstos se declaren insolventes en el pago de sus hipotecas. Las entidades emitieron…
02
  • Lock out 'mortgage protection' pitches. The meltdown among sub-prime mortgage lenders shows a particularly ugly side of the housing market - the business of selling high-risk financial products to people who may not be that financially savvy. Here's another: the…
  • Tax hit could follow home loss. In a package of proposals aimed at easing foreclosure worries for homeowners having trouble making their mortgage payments, President Bush called last week on Congress to temporarily make some borrowers exempt from a little-known tax…
  • Not your parents' mortgage market. A generation ago, banks took on deposits and lent that money to homebuyers who took out 30-year, fixed-rate mortgages. That changed when Wall Street got involved in recent decades. Investment banks provided capital to mortgage…
  • Even low-risk borrower suffering. Now that homeowners can no longer easily use their homes as ATM machines, they are turning back to credit cards. The latest figures from the Federal Reserve show that consumers increased their amount of outstanding…
01
  • Fed finds no bias in credit scores. In a report to Congress that is certain to generate controversy, the Federal Reserve Board says that credit scores vary "substantially" among racial and ethnic groups but that their use has made credit more available…

August

31
  • Mortgage brokers fall on tough times. Mortgage brokers are leaving the business in droves as the crisis in subprime mortgages leads to fewer products to sell, tighter lending standards and a backlash from lenders who blame them for the meltdown. Brokers…
  • FHA to help refi at-risk mortgages. Some homeowners with risky "subprime" adjustable-rate mortgages will be able to refinance before they lose their home to foreclosure, with the help of steps President Bush will announce Friday, senior administration officials said Thursday night.…
30
  • Mortgages are for paying off. African Americans are often the target of financial pitchmen trying to convince them they should never pay off their mortgages. Instead, the line goes, people should dig deeper into mortgage debt to purchase cars, fund…
  • Bernanke: Need new mortgage options. Federal Reserve Chairman Ben Bernanke suggested that policymakers look for ways to encourage a wider range of mortgages geared for borrowers who have been hard hit by the housing slump and credit crunch. Bernanke, in…
  • Plight for renters gets tougher. As the credit crunch shakes up the mortgage market, one group that's suffering some severe collateral damage doesn't own a home at all: renters. Already, one in four renters are paying more than half their…
29
  • Consumidores en apuros. La confianza de los consumidores se redujo en agosto debido a la turbulencia en los mercados financieros y a los requisitos más estrictos para obtener créditos, pero también a la dificultad que estos están enfrentando…
28
  • Blight moves in after foreclosures. Houses abandoned to foreclosure are beginning to breed trouble, adding neighbors to the growing ranks of victims. Stagnant swimming pools spawn mosquitoes, which can carry the potentially deadly West Nile virus. Empty rooms lure squatters…
  • California anti-class-action initiative withdrawn. A ballot initiative to limit class-action lawsuits was abruptly withdrawn from the state Attorney General's office today after the backers, a coalition of businesses and local governments, said the timing of the June 2008 election…
  • Home sales go from bad to worse. The news Monday from the National Association of Realtors was bad enough: Sales of existing homes fell in July to their slowest pace in five years. The glut of homes for sale is at a…
27
  • Mortgages remain for some homebuyers. What credit crunch? Home buyers with solid credit and money for a down payment are now better positioned than they were a few weeks ago. The average 30-year fixed mortgage rate is at a three-month…
 

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