Archive for the ‘Lending Loan’ Category

July 25th, 2008

AOL to sell Xdrive, close photo and mobile sites

AOL is scrapping some online destinations but will push others harder in an attempt to improve its finances, according to internal memos. Among those products to be shuttered are Bluestring, a site to share videos, music, and photos; Xdrive, a general-purpose online storage service; and AOL Pictures, where people could store and share photos, according [...]

July 21st, 2008

Freddie Mac Mulls $10 Billion Share Sale, WSJ Says

Freddie Mac may raise as much as $10 billion by selling new shares to investors, the Wall Street Journal reported, citing people familiar with the situation. The government-backed U.S. mortgage finance company’s plan to raise cash, which comes after regulatory actions spurred a two-day recovery in its shares, might avoid an immediate government rescue and [...]

July 20th, 2008

Countrywide Settles Lending Suit in Pennsylvania

Countrywide Home Loans has agreed to pay $325,000 to the Chapter 13 bankruptcy trustee in Pittsburgh, settling a matter that accused the lender of abusive practices in almost 300 mortgage loans overseen by the court.
Skip to next paragraph. The settlement, which has been filed with the court and must be approved by the federal judge [...]

July 19th, 2008

Barclays Investors Buy 19% of Shares on Sale in Offer

Barclays Plc, the U.K.’s fourth- biggest bank, said shareholders bought 19 percent of the shares they were offered as part of the lender’s 4.5 billion-pound ($9 billion) fundraising. Shareholders agreed to buy 753 million pounds of the 4 billion pounds of stock available to them, the London-based bank said in a statement today. Barclays will [...]

July 15th, 2008

NAB increases home loan interest rates

NATIONAL Australia Bank has become the latest bank to turn the screws on homeowners, hiking its standard variable rate by 15 basis points to 9.61 per cent.
The new rate, which takes effect from tomorrow, will add just over $7 to the weekly repayments on a $300,000 mortgage taken out over 30 years.
NAB is playing [...]

July 1st, 2008

Vacation How to Plan the Trip of a Lifetime

In 2007, we traveled with a small group of six for three months to Eastern Europe, planning our trip along the way. This year, we traveled to the Middle East with a group of 20 where everything was already planned out for us. No, it wasn’t like the infamous 1969 movie If It’s Tuesday, It [...]

June 5th, 2008

Blitz on predatory lenders

PREDATORY non-bank lenders and mortgage brokers could face hefty fines, and even jail, under a move towards a national system of regulation proposed by the Federal Government.
The Government has released a green paper outlining areas where the states will transfer powers to the Commonwealth, to ensure better protection for “mum and dad” investors and mortgage [...]

May 27th, 2008

Mexican Peso To Gain To 10.3 Per Dollar By June, Citigroup Says

 Mexico’s peso will rally through June on speculation the Federal Reserve will keep the benchmark U.S. lending rate at 2 percent this year, helping maintain the yield advantage of Mexican assets, Citigroup Inc. said.
The peso will rise to 10.3 against the dollar by June, Joel Virgen, an economist at Citigroup’s Banamex unit in Mexico City, [...]

May 17th, 2008

Banks Set To Push Home Loans

Banks are mapping out strategies to garner a larger slice of the home loans market as intense competition continues to exert downward pressure on interest rates.
CIMB Bank Bhd head of retail banking Peter England said: “There certainly has been a significant increase in competition in the Malaysian banking sector in recent years and this has [...]

April 20th, 2008

Inflation Heading To 4 Per Cent

Struggling home owners can expect a long wait for relief from high mortgage interest rates because inflation is heading for 4 per cent this year, and when rates do fall it may not be much, economists say.
Annual inflation was 3.4 per cent in the March year, according to latest figures, Lending Person but is [...]