Mortgage and Financial News From 2008-2-14 Page 47

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• Fed chairman tells Congress business prospects are deteriorating (Pittsburgh Post-Gazette)

  WASHINGTON -- Federal Reserve Chairman Ben Bernanke told Congress today that the country's economic outlook had deteriorated and signaled that the central bank was ready to keep on lowering a key ...
  2008-02-14 09:16:05

• (AFX UK Focus) 2008-02-14 16:59 GMT: Bernanke says economic outlook is worse (Interactive Investor)

  WASHINGTON (AP) - 0214dv--bernanke--econ
  2008-02-14 09:36:30

• Foreclosures Hurt Housing Market Further (HispanicBusiness.com)

  A growing share of home sales are from foreclosures, especially in states hardest hit by the housing bust. In some parts of California lately, nearly 50 percent of home sales come from foreclosed houses.
  2008-02-14 09:43:52

• Quebec presents proposal for market-driven overhaul of forestry industry (MSN Money Canada)

  QUEBEC - The Quebec government is proposing an overhaul of the forestry industry that would end quotas for cutting rights in favour of a market-oriented system.
  2008-02-14 09:57:00

• (AFX UK Focus) 2008-02-14 17:21 GMT: London shares close flat, dragged back as NY falls on sombre Fed comments UPDATE (Interactive Investor)

  (Updating with full report)
  2008-02-14 09:57:41

• Senior Citizens Most Likely to be Targeted by Foreclosure Rescue Scams (Senior Journal)

  Feb. 13, 2008 – It should be no surprise that senior citizens are the target of the latest financial scam – foreclosure rescue scams.
  2008-02-14 10:06:09

• Freddie Mac alters rules to aid mortgage insurers (MENAFN)

  Freddie Mac alters rules to aid mortgage insurers
  2008-02-14 10:13:03

• Fed chairman tells Congress business prospects are deteriorating (The Times-Reporter)

  Updated at 11:25 a.m. WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke told Congress Thursday that the country's economic outlook has deteriorated and signaled that the central bank is ready to keep on lowering a key interest rate – as needed – to shore things up.
  2008-02-14 10:29:47

• Fed Chief: Outlook Bleak, More Cuts Likely

  CBS News - Bernanke said banks have lost so much money on bad mortgages that they are getting stingy - meaning credit for everyone else is getting more expensive ... He called on Congress to revamp mortgage giants Fannie Mae and Freddie Mac and modernize the ...
  2008-02-14 09:14:00

• Mortgage Professional

  Colleyville Courier - Historic Low Rates From Top Lenders - No Obligation, No SSN Required & Bad Credit OK. http://Refinance.LeadSteps.com/ Commercial Mortgage Education on DVD As a commercial mortgage lender, we recognized the need for this knowledge. Taped at a live ...
  2008-02-13 11:48:00

• A Labyrinthine Path to Justice

  Washington Post - Policing mortgage and credit-related fraud is the "number one priority" of the FBI's financial crimes unit, she added. FBI agents are ... misconduct, such as executives at lenders, builders and investment banks unloading shares of stock in advance of bad ...
  2008-02-14 06:36:00

• European Stocks Pare Rally on Bernanke Comments; UBS Declines

  Bloomberg - ... said additional writedowns were likely for banks and tighter credit will restrain growth. UBS AG tumbled to a 4-1/2 low in Zurich after the U.S. subprime mortgage crash ... There is clearly potentially further bad news,'' said Karim Bertoni ...
  2008-02-14 09:35:00

• Company Default Risk Falls as U.S. Sales, Japan Beat Forecasts

  Bloomberg - ... on U.S. mortgage insurers rose after Standard & Poor's yesterday cut its credit rating on Radian Group Inc., the third-largest U.S. mortgage insurer, and said it may downgrade others because of expected losses from reimbursing lenders that made bad ...
  2008-02-14 06:22:00

• New York's Dinallo Considers Splitting Bond Insurers (Update3)

  Bloomberg - The world's largest bond insurers may lose the AAA credit ratings they use to guarantee $2.4 billion of municipal and mortgage-backed debt ... result of potential downgrades to bond insurers and a tightening of credit markets that resulted from bad ...
  2008-02-14 08:16:00

• Banks to ask government to take bad loan risk: report

  Reuters - Banks to ask government to take bad loan risk: report ... Federal Housing Administration guarantee mortgage refinancings by some delinquent borrowers, said the report. The Credit Suisse plan would open the way for ...
  2008-02-14 06:50:00

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