News

2007

September

11
  • BBB warns of shady foreclosure rescue firms. Kent and Kimberly Leser had a lousy weekend. They moved their three children and the last of their belongings out of their house and into the home of Kent’s parents. The Leser family lost
09
  • Some mortgage originators skip state licensing. Concerned about mortgage fraud and predatory lending practices, many states have toughened their laws by requiring loan officers or originators to undergo extensive background checks and show proof of professional experience and training. Still, attracted
07
  • Foreclosure proceedings set record. With a warning that the worst is yet to come, the Mortgage Bankers Association said Thursday that lenders began foreclosure proceedings on a record number of homes this spring. The turmoil in the mortgage market
  • Contagio de crisis ‘subprime’. Los propietarios de casas que están batallando para lidiar con los fuertes incrementos en sus pagos de hipoteca ajustable fueron golpeados con un número récord de noticias de embargos durante la primavera,
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
 

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