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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
 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, [...]
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 [...]
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 [...]
