Bernanke Urges Action to Slow Foreclosures
Bloomberg is reporting Bernanke Urges Action to Slow Jump in U.S. Home Foreclosures. Bernanke, in a speech in New York yesterday, also reiterated his call for lenders to forgive portions of mortgages for some struggling homeowners. He said proposals should be “tightly targeted” at borrowers at greatest risk of losing their properties, and avoid providing an incentive for defaults. “Realistic public and private-sector policies must take into account the fact that traditional foreclosure-avoidanc
Countrywide, BOFA Deal on the Rocks?
Countrywide, BOFA Deal on the Rocks? 05May08 A Friedman, Billings, and Ramsey analyst threw a wrench in the proposed merger between Bank of America and Countrywide today, claiming that the Charlotte-based bank should just walk away, Bloomberg reported. FBR analyst Paul Miller warned that the nation s largest bank should abandon the Countrywide deal because write-downs tied to the lender s mortgage debt could be as high as $30 billion as delinquencies continue to rise. He also cut his
Value to unlock: Banks are starting to find buyers for mortgage … - Financial Times
H ow are the mighty fallen. This time last year, as global financial markets were just beginning to feel the pinch from record late payments and rising defaults on risky US home loans, more than 2,000 anxious mortgage bankers and investors gathered …