General_News Information

Sallie Says Flowers Won't Renegotiate $25 Bn Buyout

The student lender said it has indications of interest from 10 financial institutions for new secured warehouse funding of over $30 billion. Further, Sallie Mae on Wednesday estimated its fourth-quarter earnings at 52 cents to 57 cents a share ...

More mortgage meltdown misery

Option ARM [adjustable rate mortgage] loans, a form of Alt-A loans, were sold primarily to prime and near-prime borrowers between 2004 and 2007. Based on borrowers’ safer credit scores, many loans involved little or no documentation and low ...

RPT-FEATURE-Spain's new middle classes slip into poverty

Their only income is his 1,280 euro dole, not enough to pay 1,300 euros on mortgage, consumer loan and credit card payments. They eat at the soup kitchen to save 150 euros a month to feed their three children. To head off such depression, Prime ...

RLPC-Porsche seeks to increase loan to 12.5 bln euros - bankers

Porsche was initially seeking to raise 12.5 billion euros - 10 billion euros to refinance an existing loan and a further 2.5 billion euros for general corporate purposes - but had to focus initially on the 10 billion euro refinancing after it met ...

Why this will not be a normal cyclical recovery

But, within two years, concerns over budget deficits and inflation may revive, compelling the Federal Reserve to raise interest rates and Congress to adopt deficit reduction steps. These actions, contractionary by definition, could occur before a ...

Bradford & Bingley considers asset sale

Some of its existing borrowers have high loan-to-value ratios or hold buy-to-let mortgages and so cannot refinance easily with other mortgage lenders. B&B, which was nationalised last September, says that without any asset sales, its £41.9bn ...

ANALYSIS-Pockets of strength push US housing market rebound

NEW YORK (Reuters) - The tide is turning in some parts of the long suffering U.S. housing market, with several regions, such as hard hit California, showing signs of life. Subprime lending to less creditworthy borrowers was widespread in California ...

House prices post first rise since 2007

LONDON (Reuters) - House prices rose for the first time since October 2007 in March, the Nationwide Building Society said on Thursday, but the lender cautioned against jumping to conclusions about a housing market rebound. Nationwide said house ...

Applications for US home loans surge

Applications for US mortgages surged last week as banks lowered borrowing costs after the Federal Reserve’s decision to buy Treasuries pushed interest rates to record lows. The Mortgage Bankers’ Association’s index of applications to buy a home ...

Lending to business begins to increase

Lenders tightened the terms for mortgage lending to households in the three months to mid-March but slightly increased lending to businesses, according the the Bank of England’s latest credit conditions survey. The survey, which looks at quarterly ...

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