Mortgage and Financial News From 2008-1-8 Page 4

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• US recession may not take big toll on China: experts (Channel NewsAsia)

  WASHINGTON : Experts say a US recession will dampen China's surging exports but the impact on the world's most populous nation, which is taking steps to cool down a red-hot economy, may be limited.
  2008-01-08 09:33:33

• Money mistakes can add up (The Myrtle Beach Sun News)

  1/83/8 NEW YORK | Here, from Consumer Reports, are six common mistakes that can each cost you $1 million - and advice on how to avoid them: Investing too conservatively during retirement. If you follow conventional wisdom and, as you approach retirement, shift money out of stocks into more stable investments you could miss many opportunities.
  2008-01-08 09:38:03

• US recession may not take big toll on China (China Daily)

  WASHINGTON - A US recession will dampen China's surging exports but the impact on the world's most populous nation, which is taking steps to cool down a red-hot economy, may be limited, experts say.
  2008-01-08 10:01:12

• Countrywide shares tumble amid signs of prolonged housing slump (Savannah Morning News)

  LOS ANGELES - Shares of Countrywide Financial Corp., the nation's largest mortgage lender, sank to an all-time low Tuesday as a major homebuilder offered a grim outlook for industry and signals that the Bush administration is growing more concerned about rising mortgage defaults.
  2008-01-08 10:02:07

• It's ‘touch and go’ whether MPC will cut interest rates

  IC Wales - Lending figures last week showed that the number of mortgages approved for people moving home fell to a three-year low during ... approvals for house purchase had fallen and added to mounting evidence that the housing market is going into reverse. ...
  2008-01-08 12:03:00

• Wells Fargo sued by Baltimore over foreclosures

  Contra Costa Times - The lawsuit alleges that Wells Fargo targeted black neighborhoods for deceptive lending practices -- a practice known as reverse redlining, which is prohibited under the federal Fair Housing Act. For example, it claims that mortgages for homes worth ...
  2008-01-08 02:29:00

• Bear Stearns may become takeover target amid unrest

  International Herald Tribune - Bear Stearns, however, is reeling after recording its first loss ever in the fourth quarter because of subprime mortgages. ... Hedge funds or other private financial companies could consider acquiring Bear Stearns in the form of a reverse merger to ...
  2008-01-08 05:57:00

• City: Wells Fargo preyed on poor

  MSNBC - The lawsuit alleges that San Francisco-based Wells Fargo targeted black neighborhoods by using reverse redlining, which is prohibited under the federal Fair Housing Act. For example, it claims that mortgages for homes worth $75,000 or less — most ...
  2008-01-08 12:56:00

• Stocks tumble as trading day nears end

  MSNBC - Investors awaited official word that the chief executive of Bear Stearns Cos., which has suffered huge losses from losing bets on mortgages, was leaving the investment bank. The Wall Street Journal reported that CEO James Cayne is expected to retain ...
  2008-01-08 12:13:00

• Home Equity Income Trust Reports Record Mortgage Originations for 2007 - Canada NewsWire (press release)

  Home Equity Income Trust Reports Record Mortgage Originations for 2007Canada NewsWire (press release), Canada - 15 hours agoDuring 2007, the Trust's total portfolio of reverse mortgages grew by 16% to approximately $708 million. "We are extremely excited with our performance ...
  2008-01-08 06:18:34

• Baltimore lawsuit will accuse bank of predatory lending practices - Examiner.com

  Baltimore lawsuit will accuse bank of predatory lending practicesExaminer.com - 15 hours agoBaltimore officials allege the bank sold higher-interest subprime mortgages to blacks more frequently than to whites, in a practice known as reverse ...
  2008-01-08 06:23:47

• Peso rises to 40.75/dollar - Inquirer.net

  Peso rises to 40.75/dollarInquirer.net, Philippines - 13 hours ago“Furthermore, financial inflows should reverse when prices do start to fall, amplifying any downside. We expect oil prices to eventually fall back to $60-70 ...
  2008-01-08 08:57:30

• Lender Lead Solutions Introduces Fixed Rate HECM Reverse Mortgage - Reuters

  Lender Lead Solutions Introduces Fixed Rate HECM Reverse MortgageReuters - 11 hours agoLender Lead Solutions' fixed rate HECM reverse mortgage product eliminates rate fluctuations, therefore eliminating interest rate risk. ...
  2008-01-08 10:10:40

• Schaeffer's Daily Market Blog - Schaeffers Research

  Schaeffer's Daily Market BlogSchaeffers Research, OH - 9 hours ago... a racially motivated practice known as "reverse redlining," which is prohibited by the Fair Housing Act. The suit claims that mortgages for homes worth ...
  2008-01-08 12:01:40

• Sun West Mortgage Launches Web-based FHA and Reverse Mortgage ... - Eworldwire (press release)

  Sun West Mortgage Launches Web-based FHA and Reverse Mortgage ...Eworldwire (press release), NJ - 9 hours ago8, 2008 --- Sun West Mortgage Company, Inc. successfully launched its free comprehensive FHA and reverse mortgage web-based training series. ...
  2008-01-08 12:43:56

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