Mortgage and Financial News From 2008-9-5 Page 01
Previous Day: 2008-09-04
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A Con Game In Pinstripes - Washington Post
We're entering that exciting phase of any financial crisis when the lawsuits come fast and furious, criminal charges are lodged, and Wall Street firms agree to pay hundreds of millions of dollars for having snookered their customers once again. In ...
2008-09-04 06:16:00 -
GMAC Financial cutting 5,000 jobs, ceasing wholesale mortgage ... - Minneapolis Star Tribune
Ford sales dive in August as auto slump continues Factory orders see wide gains led by aircraft Struggling mortgage lender ResCap to cut 5,000 jobs SEC accuses 2 brokers of $1B subprime fraud GMAC subsidiary ResCap closing retail mortgage operations ...
2008-09-03 09:49:00 -
Real estate fraud alert offered (Milwaukee Journal Sentinel)
Homeowners have a new safeguard against fraud with a service that notifies them about property transactions done in their name in Milwaukee, Daneand Winnebago counties.
2008-09-05 06:58:00 -
Reuters Business Summary (Reuters via Yahoo! Philippines News)
U.S. to take control of mortgage giants: reports WASHINGTON - The U.S. government plans to put troubled mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported on Friday. The Wall Street Journal reported earlier on Friday that the U.S. Treasury Department is close to finalizing a plan to ...
2008-09-05 08:43:01 -
Consumer Watch: The Top 10 consumer complaints (Chattanooga Times Free Press)
A number of folks have asked me to relate top consumer complaints (since almost every person seems to experience at least one personal “favorite”). Each year, a few of the same old, same old appear on this survey list — seems like these companies would get the message, doesn’t it?
2008-09-05 09:22:32 -
Former mortgage lender gets 18 years (Bradenton Herald)
BARTOW - A former vice president for a subprime lender has been sentenced to 18 years in prison for mortgage fraud, racketeering and grand theft.
2008-09-05 09:48:57 -
Feds charge ex-cop, appraiser in real estate fraud case (Detroit News)
A former Detroit police officer and a city appraiser are among three defendants named in a $2.1 million mortgage fraud and real estate "flipping" indictment.
2008-09-05 10:09:12 -
Roosevelt Wilson named Communicator of the Year (Tallahassee Democrat)
Publisher Roosevelt Wilson has been named Communicator of the Year by the Capital Chapter of the Florida Public Relations Association for his efforts to enhance community awareness and knowledge of important local issues.
2008-09-05 11:10:51 -
Swedish c.bank raises rates but signals end to hikes - Guardian Unlimited
STOCKHOLM, Sept 4 (Reuters) - Sweden's central bank raised its key interest rate by a quarter percentage point to 4.75 percent on Thursday as it focused on above-target inflation rather than slowing economic growth. A narrow majority of economists ...
2008-09-04 02:17:00 -
Ford says scandal's end shifts focus back to city, economy - Detroit Free Press
Ford Motor Co. Executive Chairman Bill Ford, who also heads two organizations dedicated to regional economic development, told the Free Press today that metro Detroit can begin refocusing on the future now that the scandal with Detroit Mayor Kwame ...
2008-09-05 05:25:00 -
Fed Fans Small-Cap Flames - Forbes
The Federal Reserve has injected a tremendous amount of liquidity into our monetary system. In less than a year, the Federal Open Market Committee has reduced the federal funds rate from 5.25% to 2%. This is a tremendous reduction in a relatively ...
2008-09-05 04:27:00 -
Rangel Was Unaware Of No-Interest Loan - Washington Post
Rep. Charles B. Rangel (D-N.Y.) did not know that the Caribbean resort villa he purchased 20 years ago was financed with a no-interest mortgage from the developer and has generated $75,000 in income that he should have reported on tax and financial ...
2008-09-05 06:22:00 -
Inflation easing but no all-clear - ECB bankers - Forbes
FRANKFURT/VIENNA, Sept 5 (Reuters) - Euro-zone inflation has probably passed its peak but the European Central Bank cannot let down its guard against a wage-price spiral, ECB policymakers said on Friday. After leaving interest rates on hold at 4.25 ...
2008-09-05 08:35:00 -
Shying Away From N.Y. Loans (New York Times)
Fannie Mae and Freddie Mac have said they would not buy subprime loans from New York because of a new law exposes them to too much risk and cost.
2008-09-05 09:52:48 -
Business Briefs (Long Beach Press-Telegram)
Business issues and events around the world and nation.
2008-09-05 10:04:11