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Plans to Aid Borrowers Gain Steam - WSJ.com

Thursday, October 23, 2008
Wall Street Journal -
By DAMIAN PALETTA and MICHAEL M. PHILLIPS WASHINGTON -- The Bush administration is weighing a roughly $40 billion proposal to help forestall foreclosures, one of a series of ideas under consideration designed to address the root causes of the financial crisis. ...

U.S. mulls $40 bln plan to help forestall foreclosures: report | Politics | Reuters

Thursday, October 23, 2008
Reuters -
(Reuters) - The Bush administration is weighing a roughly $40 billion proposal to help forestall housing foreclosures, one of a series of ideas under consideration to address the root causes of the financial crisis, the Wall Street Journal reported. ...

U.S. Mulls Plan to Halt Foreclosures: Report - TheStreet.com

Thursday, October 23, 2008
TheStreet.com -
The Bush administration is considering a roughly $40 billion proposal to help forestall foreclosures, one of a series of ideas under consideration designed to address the financial crisis, the Wall Street Journal reports. ...

AFP: Financial crisis has culled worst US institutions: Bank of NY CEO

Oct 21, 2008
AFP -
FRANKFURT (AFP) — The financial crisis has provided a needed culling of weak US financial institutions and mortgage giants Fannie Mae and Freddie Mac should bow out in turn, a top New York banker said Tuesday. "What I like about where we are ...

Finance group predicts housing weakness

Oct 22, 2008
San Francisco Chronicle,  USA -
(10-21) 18:15 PDT SAN FRANCISCO -- The US housing market will continue to struggle until at least next summer, according to the Mortgage Bankers Association , which is meeting this week in San Francisco. ...

Across the nation | Freep.com | Detroit Free Press

Oct 22, 2008
Detroit Free Press, United States -
US House Republicans called on the Justice Department to broaden its probe into the collapse of the subprime mortgage market and look into allegations of wrongdoing by Fannie Mae and Freddie Mac executives. ...

More about the Moore amendment on Fannie and Freddie | KansasCity.com Prime Buzz

Wednesday, October 22, 2008
Kansas City Star, MO -
In the race for Congress in Kansas’ 3rd District Republican Nick Jordan’s campaign said it had found a “smoking gun” that proves the current Democratic congressman may have made the nation’s financial crisis worse. Jordan pointed to an amendment last year co-sponsored ...

Emergency grants help local charities - Washington Business Journal:

Wednesday, October 22, 2008
Bizjournals.com, NC -
A local charitable foundation announced 40 emergency grants to social service providers in the Washington region Wednesday, to help them cope with slimmer charitable giving and the freeze on grant giving by Fannie Mae and the Freddie Mac Foundation ...

Blunt: Democrats' Long History of Rewarding ACORN - MarketWatch

Wednesday, October 22, 2008
MarketWatch -
Long before Fannie Mae and Freddie Mac needed a taxpayer-funded bailout this summer, Congressional Democrats began pushing an "affordable housing trust fund ...

Wells Fargo, NACA Collaborate on Programs to Benefit At-Risk Mortgage Customers

Oct 17, 2008
WELT ONLINE, Germany -
Wells Fargo and the Neighborhood Assistance Corporation of America (NACA) today announced a joint initiative to help Wells Fargo homeowners behind on their ...

Calif.'s Boxer urges more help from mortgage firms - BusinessWeek

Oct 17, 2008
BusinessWeek -
Sen. Barbara Boxer on Friday pressed for action from 21 banks and lenders that an advocacy group has accused of insufficient support for at-risk homeowners in California. Boxer, D-Calif., sent letters to executives at the mortgage servicers urging ...

Charities attack Northern Rock repossession rate - 17 October 2008

Oct 17, 2008
Money Marketing, UK -
Credit and housing charities have hit out at Northern Rock for it’s “aggressive” repossession strategy. Credit Action, a debt advice charity, has accused Northern Rock of aggressively chasing those in arrears and do not offer enough flexible options to those ...

Northern Rock twice as likely to repossess

Oct 17, 2008
Finance Markets, UK -
by Gill Montia Credit Action is claiming that Northern Rock’s level of repossessions is twice that of its rivals. The debt charity is calling on the Treasury to intervene and insist that the nationalised lender responds more sympathetically to borrowers who fall behind with their ...

Tories lash out at government repossession policy - 17 October 2008

Oct 17, 2008
Mortgage Strategy, UK -
The Conservative party has attacked the government’s policy on repossessions claiming that it is mired in confusion. Government-backed lender Northern Rock has seen its repossessions rate soar by 68% between December 2007 and June 2008. But prime minister Gordon Brown ...

Bailout Bank Accused Of Aggressive Repossession Tactics (from The Herald )

Oct 17, 2008
The Herald, UK -
The UK Government was urged to act yesterday amid accusations that "nationalised" banks were using "aggressive" repossession tactics, despite being publicly funded. What did they expect? - public money grabbed and given to them without voter representation or participoation, ...

New boss defends Rock policy on repossessions - JournalLive

Oct 18, 2008
Journal Live, UK -
THE new chief executive of Northern Rock last night defended his bank after claims it has adopted a “hard-line” approach to repossessions. ...

Northern Rock accused of 'being aggressive' - Money Magic Mortgage Advice & Mortgage Specialists

Oct 18, 2008
Money Magic Mortgage News, UK -
Nationalised mortgage lender Northern Rock has been accused of pursuing aggressive repossession tactics, it has been reported. Charity Credit Action said the government owned bank is not flexible enough with customers falling behind with their mortgage repayments. There were ...

Northern Rock blasted for aggressive repossesions - mirror.co.uk

Oct 18, 2008
Mirror.co.uk, UK -
By Jason Beattie And Clinton Manning 18/10/2008 The state-owned bank was more likely to take back properties than any other lender, claimed Chris Tapp, director of charity Credit Action. He said: "As soon as people fall behind they have started ...

News & Star

Oct 18, 2008
News & Star, UK -
There can be few crises more traumatic for any family than finding itself homeless. So Northern Rock’s new, aggressive attitude to those falling behind with their mortgage repayments could cause misery for many Cumbrian households. The bank was always a popular option ...

Bank bosses hit back - Sunderland Echo

Oct 18, 2008
Sunderland Echo, UK -
Bosses at Northern Rock have reacted angrily to claims they are too quick to throw people out of their homes. And Prime Minister Gordon Brown has distanced himself from the row, saying the Government runs the nationalised bank at "arms length". Northern Rock's repossession policy ...

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