Finance and Economy | RISMedia

Foreclosure Activity Decreases 7% in November, Still up 28% from 2007

Wednesday, December 10th, 2008

RISMEDIA, Dec. 11, 2008-RealtyTrac®, an online marketplace for foreclosure properties, released its November 2008 U.S. Foreclosure Market ReportTM, which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 259,085 U.S. properties during the month, a 7 percent decrease from the previous month but ...

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GMAC Announces Plans to Become a Bank Holding Company

Wednesday, December 10th, 2008

RISMEDIA, Dec. 11, 2008-GMAC Financial Services (GMAC) announced that it has extended the early delivery time with respect to its separate private exchange offers and cash tender offers to purchase and/or exchange certain of its and its subsidiaries' (the "GMAC offers") and Residential Capital, LLC's (the "ResCap offers") outstanding notes ...

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Fannie Mae Provides New Servicer Flexibility to Help Borrowers Avoid Foreclosure

Tuesday, December 9th, 2008

RISMEDIA, Dec. 10, 2008-Fannie Mae announced a series of actions designed to help borrowers and loan servicers address potential mortgage problems and prevent unnecessary home foreclosures among the more than 18 million single-family loans owned or guaranteed by Fannie Mae. ...

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New Low Mortgage Rates Out of Reach

Monday, December 8th, 2008

RISMEDIA, Dec. 9, 2008(MCT)-Many of the would-be borrowers who have bombarded mortgage lenders with phone calls since interest rates dropped last week are finding they don't qualify for loans. ...

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Treasury Plan Gets Mixed Reaction from Housing Pros: State Perspective

Monday, December 8th, 2008

RISMEDIA, Dec. 9, 2008-(MCT)-There's nothing like record-low mortgage rates to excite potential home buyers. At least that's what the Treasury Department hopes. The government is reportedly considering a proposal to force 30-year fixed-rate mortgages to 4.5 percent in an attempt to draw more home buyers into the languishing market. ...

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Conference Board Employment Trends Index Signals More Strong Employment Declines to Come

Monday, December 8th, 2008

RISMEDIA, Dec. 9, 2008-The Conference Board Employment Trends Index (ETI)(TM) declined further in November. The index fell to 102.9, down 1.6 percent from the October revised figure of 104.5, and down over 13 percent from a year ago. ...

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Consumer Reports Survey: 56 Percent of Americans Think U.S. Needs to Help Citizens More in Tough Economy

Monday, December 8th, 2008

RISMEDIA, Dec. 9, 2008-Consumer Reports' latest national survey finds that more than half (56%) of respondents think that government hasn't done enough for them in these tough economic times. ...

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Are Sweeping Changes Coming for Mortgage Finance?

Sunday, December 7th, 2008

By Kevin G. Hall RISMEDIA, Dec. 8, 2008-(MCT/RISMedia)-Adding to a mounting chorus in the nation's capital that the Bush administration must do more to reverse the nationwide housing slump, Federal Reserve Chairman Ben Bernanke on Thursday spelled out several aggressive steps that government could take to fix the main cause of the recession.

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