Mortgage and Financial News From 2007-11-30 Page 2

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  • MetroCorp Announces the Appointment of Krishnan Balasubramanian to Its ...

    MSN MoneyCentral - HOUSTON, Nov. 30, 2007 (PRIME NEWSWIRE) -- The Board of Directors of MetroCorp Bancshares, Inc. (the "Company") (Nasdaq ... for loan, deposit and other financial services and increase loan delinquencies and defaults; (2) changes in the interest rate ...
    2007-11-30 02:54:00

  • Lenders urged to freeze subprime rates

    Seattle Post Intelligencer - WASHINGTON -- The Treasury Department is leaning on mortgage lenders to temporarily freeze the interest rates on subprime loans ... little to help troubled borrowers because few of them would be able to switch to a conventional mortgage with a lower rate ...
    2007-11-29 03:53:00

  • Attempt to freeze subprime interest rates could lead to investor ...

    Forbes - ... that need to be resolved before a government-led agreement can be worked out to freeze lower interest rates on sub-prime ... testified in California today that about 3 pct of the 7.9 mln loans backed by Wells Fargo are sub-prime adjustable rate ...
    2007-11-30 12:31:00

  • Treasury Sec'y Paulson working with regulators, bank execs to develop ...

    San Diego Union-Tribune - ... The Bush administration is working behind the scenes with industry on a plan to extend lower, introductory interest rates on home loans before they reset at higher levels amid hints by Fed Chairman Ben Bernanke of another cut in a key interest rate ...
    2007-11-30 09:46:00

  • Wall St ends mixed as investors eye rate cuts

    News.com.au - Wall Street read that as meaning fresh interest rate cuts are imminent. "Financial shares were higher on speculation the Government will cut borrowing costs and negotiate a deal with banks to fix interest rates on sub-prime mortgages," said Al ...
    2007-11-30 02:54:00

  • UPDATE 1-Sen. Dodd offers cooperation on mortgage plan

    Reuters - Dodd's letter came as Paulson was said to be hammering out a plan with mortgage lenders to freeze interest rate payments for many troubled subprime mortgage borrowers, with the goal being to help them avoid losing their homes. Many borrowers in ...
    2007-11-30 12:53:00

  • UPDATE 1-Subprime plan aims to avoid disrupting market-OFHEO

    Reuters - ... are focusing in on restructuring "2-28" and "3-27" subprime loans, 30-year mortgages that start with low "teaser" interest ... If they can't make the teaser rate mortgage payments, this is not going to help," he said. During the five-year U.S ...
    2007-11-30 01:21:00

  • Treasury close to subprime aid plan: sources

    Reuters - Industry representatives and regulators are still thrashing out details of who would qualify for the interest rate amnesty and how long to extend the fixed-rate period of the loans. Mortgage industry representatives want to limit mortgage relief ...
    2007-11-30 02:18:00

  • Treasury Secretary working with regulators, bank execs to develop loan ...

    San Diego Union-Tribune - ... mortgage industry, trying to combat a massive wave of foreclosures, are hammering out a proposal to temporarily freeze interest ... stabilizes and home prices are no longer falling, it will be easier for homeowners to refinance their adjustable rate loans ...
    2007-11-30 03:44:00

  • Paulson, banks work on loan plan

    AZCentral.com - The talks come amid hints from Federal Reserve Chairman Ben Bernanke of another cut in a key interest rate to keep the economy from sliding into a recession. Treasury Secretary Henry Paulson and other top regulators met Thursday with loan servicing ...
    2007-11-30 07:12:00

  • Paulson: Working quickly for U.S. subprime relief

    Reuters - Paulson said the effort to help homeowners was aimed at those borrowers who could make their current payments but would struggle if their mortgage interest rate were to spike. "We're focused on those in the center -- the middle group -- that are ...
    2007-11-30 03:37:00

  • UPDATE 5-US Treasury near deal to aid struggling homeowners

    Reuters - In his interview Friday, Paulson said the Treasury initiative was aimed at the "middle group" of borrowers who have the financial ability to own a home but could not survive a big interest rate increase. "We're focused on those in the center ...
    2007-11-30 03:52:00

  • Fed's Kroszner calls for standardized sub-prime loan workout process ...

    Forbes - ... was announced, but Paulson is scheduled to speak at a housing forum on Monday afternoon and there is speculation he will announce a plan then that could include delaying the impending upward interest rate resets on hundreds of thousands of sub-prime ...
    2007-11-30 11:19:00

  • Henry Paulson close to a deal with banks to stave off sub-prime rate ...

    Times Online - Henry Paulson, the US Treasury Secretary, is close to agreeing a deal with banks and regulators to freeze interest payments that are due to rise next year for many holders of high-risk sub-prime mortgages, which altogether represent loans of $362 ...
    2007-11-30 12:38:00

  • Bernanke's US rate cut hope lifts share markets

    News.com.au - ... Joshua Williams said the economic figures suggested a confident attitude that would keep domestic demand up, and with it a greater risk of an interest rate rise. "Australian firms and households appear to have largely ignored the first sub-prime ...
    2007-11-30 06:50:00

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