Mortgage and Financial News From 2008-2-18 Page 14

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• What the Weak Housing Market Means for Your Taxes

  US News and World Report - Mortgage insurance. In a new break, begun for 2007 and scheduled to last at least through 2010, homeowners may now be able to deduct mortgage insurance premiums on new or refinanced mortgages. The deduction is taken on the 1040's Schedule A along ...
  2008-02-18 06:39:00

• Toshiba To Drop HD DVD Format (R News)

  It appears Blu-ray has won the high definition DVD war. The Wall Street Journal reports Toshiba plans to drop its HD DVD format this week. Toshiba said a final decision has not yet been made.
  2008-02-18 09:13:42

• The high price of loyalty (Daily Telegraph)

  Customer loyalty looks patently ridiculous when financial organisations don't think twice about jettisoning parts of their business that no longer look profitable, writes Emma Simon.
  2008-02-18 09:13:51

• Northern Rock competitors, miners boost European stocks (Market Watch)

  European shares rise, led by competitors of Northern Rock, after the British government said it would nationalize the embattled mortgage lender.
  2008-02-18 09:20:33

• (AFX UK Focus) 2008-02-18 16:55 GMT: Northern Rock chairman Sandler says turnaround to take years UPDATE (Interactive Investor)

  (Updates to add further detail, analyst reaction, background)
  2008-02-18 09:21:29

• Lohengrin Group Joins Broad Coalition to Sponsor 10th Annual National Consumer Protection Week (PR Newswire via Yahoo! Finance)

  Lohengrin Group has joined a group of federal, state, and local government agencies and national consumer advocacy organizations to launch the 10th annual National Consumer Protection Week , March 2-8, 2008.
  2008-02-18 09:31:00

• Bond Insurer Split May Trigger Lawsuits, Analysts Say (Update2) (Bloomberg.com)

  Feb. 18 (Bloomberg) -- Regulators' plans to break up bond insurers into ``good'' businesses covering municipal debt and ``bad'' businesses liable to subprime-related losses may trigger ``years of litigation,'' Bank of America Corp. analysts said.
  2008-02-18 09:43:52

• Nationalisation rocks Brown's reputation

  Financial Times - Gordon Brown will today face the media to explain how Britain - his vaunted beacon of stability in an uncertain world - has been forced to nationalise one of its biggest mortgage lenders after a saga lasting almost six months. The prime minister has ...
  2008-02-17 06:00:00

• Borrowers must pass tests to qualify for a rate freeze

  Baltimore Sun - The rate freeze and loan modification program, announced Dec. 6 at the White House, is a voluntary, nongovernmental effort by major lenders, mortgage servicers and bond investors to provide alternatives to foreclosure for homeowners facing ...
  2008-02-17 11:50:00

• BOE's Besley Says Tighter Credit May Curb Consumption (Update1)

  Bloomberg - U.K. mortgage approvals fell in December to the lowest since at least 1999. Lenders aren't passing on lower central bank rates in full. The cost of mortgages for 95 percent of the price of a property, fixed for 24 months, declined by 0.08 ...
  2008-02-18 07:21:00

• Banks help FTSE jump over 100

  Times Online - But the two big pure mortgage lenders, Alliance & Leicester — which reports on Wednesday and is expected to unveil a drop in profits — and Bradford & Bingley saw no uplift in sentiment. A&L was down 2p at 523p and Bradford & Bingley flat at 176.5p
  2008-02-18 02:35:00

• Northern Rock concerns weigh on sterling

  Financial Times - Mitul Kotecha at Calyon said the announcement raised questions about other troubled mortgage lenders who have seen their share prices drop dramatically over recent months and how far the government could stretch to help such lenders. “Over the next ...
  2008-02-17 09:27:00

• UK house prices rebound strongly in February

  Daily Telegraph - It is also taking longer to shift properties, as average time spent on the market before selling continues at a record high - of 93 days compared to 78 days a year ago. Mortgage lenders tightening their lending criteria is having the largest impact on ...
  2008-02-18 03:32:00

• As mortgage market tumbles, ad spending by lenders persists

  International Herald Tribune - The mortgage market in the United States may be in a historic upheaval, but mortgage companies continue to pump out upbeat advertisements. Countrywide Financial brags in its ads that "No one can do what Countrywide can" and that "Countrywide can show ...
  2008-02-17 10:10:00

• Britain to Nationalize Troubled Mortgage Lender

  New York Times - Darling commented on possible job cuts at the bank, which is the largest employer and one of the biggest mortgage lenders in the region. The chancellor plans to introduce legislation on Monday to bring the lender under government control. The bank ...
  2008-02-17 12:59:00

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