Mortgage and Financial News From 2008-5-9 Page 7
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AIG posts 1Q loss of $7.8B, plans to raise $12.5B in capital - Newsday
NEW YORK - American International Group Inc. said Thursday it swung to a $7.81 billion loss in the first quarter because of losses tied to credit swaps and mortgage-related operations and that it plans to raise a total of $12.5 billion in new cash to ...
2008-05-08 02:03:00 -
Bush Threatens Vetoes Save Email Print - WHSV
The White House again says President Bush will veto rival House and Senate Iraq funding bills, even after Democrats made spending concessions designed to win the president's signature. White House budget office director Jim Nussle said Thursday that ...
2008-05-09 02:42:00 -
Housing aid bill faces veto by President Bush - Associated Press
WASHINGTON (AP) -- Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the backing of many congressional ...
2008-05-09 01:38:00 -
Home repossession orders up 17 percent - Reuters UK
LONDON (Reuters) - Court orders for mortgage repossessions in England and Wales surged an annual 17 percent in the first three months of the year to 27,530, the Ministry of Justice said on Friday. Orders were 9 percent higher than in the final three ...
2008-05-09 02:28:00 -
Homeowners strain to see price bottom - Baltimore Sun
I 'll admit it: When home prices were soaring in my neighborhood, it made me feel really smart. Like so many millions of other homeowners, we concluded that we chose the right house in the right neighborhood at the right time. And as the years went ...
2008-05-09 12:12:00 -
Corporate earnings roundup - Los Angeles Times
American International Group Inc., the world's largest insurer, posted its largest quarterly loss Thursday and said it would raise $12.5 billion to strengthen its balance sheet. The result marked the second consecutive quarter AIG posted record ...
2008-05-08 11:57:00 -
Senate passes mortgage bill - Newsday
HARTFORD, Conn. - A bill that aims to help struggling homeowners caught up in the subprime mortgage mess is headed to Gov. M. Jodi Rell for her signature. The Senate unanimously passed the bill Wednesday, the final day of the 2008 session. The House ...
2008-05-07 01:57:00 -
House OKs bill to ease mortgage pressures - Seattle Times
WASHINGTON — Hoping to throw a rescue line to at least 500,000 families in danger of losing their homes, the House on Thursday approved legislation that seeks to expand the availability of mortgages insured by the federal government. The House vote ...
2008-05-09 12:19:00 -
2 charged with looting millions in mortgage scams - Newsday
Two Brooklyn men were arrested yesterday on federal charges that they used their defunct mortgage company to pull a series of ripoffs, including $44 million involving over 250 home loans funded by Fannie Mae , the federally sponsored pool of home ...
2008-05-08 11:50:00 -
AIG posts record loss on bad debt - BBC Business
AIG, the world's largest insurer, has posted its biggest ever quarterly loss due to its continuing exposure to bad US mortgage debt. Reporting its results for the first three months of 2008, AIG made a net loss of $7.81bn (£4bn), compared with a ...
2008-05-09 01:09:00 -
Latest News - dBusinessNews.com
Women in eDiscovery™ Elects National Board of Directors; Marks One Year Anniversary MINNEAPOLIS, MN – May 8, 2008 – Women in eDiscovery ... Vital Images Launches the ViTAL Enterprise MINNEAPOLIS -- Vital Images, Inc. , a worldwide leader in ...
2008-05-08 05:02:00 -
Preying on the elderly - The State
After two trips to the bank, where an 80-year-old woman had withdrawn about $8,000 she planned to send to a Jamaican scam artist to claim a prize, Mount Pleasant police stepped in and stopped the scam. In the Midlands, a university retiree lost more ...
2008-05-08 08:01:00 -
Double-Bubble Trouble in Commercial Real Estate: Gene Sperling - Bloomberg
May 9 (Bloomberg) -- Josef Ackermann , chief executive officer of Deutsche Bank AG, summed up the debate over the global economy at a meeting I recently attended: It's either the beginning of the end or the end of the beginning. In taking stock of ...
2008-05-08 11:50:00 -
Maverick hedge fund sees more U.S. bank failures - Reuters
NEW YORK, May 8 (Reuters) - Maverick Capital, the $14 billion hedge fund group headed by industry veteran Lee Ainslee, expects a wave of failures among regional U.S. banks slammed by mortgage defaults, a senior Maverick executive said. As a result ...
2008-05-08 03:08:00 -
Warning on slow mortgage recovery - BBC News
Mr Cornish says that building societies - which raise a chunk of funds from depositors - do not have the same reliance on wholesale funding as some of the major mortgage banks or Northern Rock did before it hit trouble. Building societies benefited ...
2008-05-07 11:30:00