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Finance, Economy & Government Issues Archive


Mortgage Applications Surge

RISMEDIA, Dec. 7, 2007-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending November 30, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 791.8, an increase of 22.5% on a seasonally adjusted basis from 646.3 one week earlier. On an ...


Alliance Urges Bill with Higher CAFE, Tax Incentives, Appliance Standards

RISMEDIA, Dec. 7, 2007-This week, the Alliance to Save Energy urged members of the U.S. House of Representatives to adopt an energy package that will save American consumers money while also improving our environment and increasing our nation's energy security. ...


Regional Spotlight: Mortgage Delinquencies for Connecticut Rise

RISMEDIA, Dec. 7, 2007-The delinquency rate for mortgage loans on residential properties in Connecticut increased 60 basis points to 4.65% by the end of the third quarter of 2007 according to the Mortgage Bankers Association. The percentage of loans on which foreclosure was started during the quarter rose 12 basis ...


Poll: Americans Skeptical over Proposals to Rescue Subprime Mortgage Borrowers

RISMEDIA, Dec. 6, 2007-As the Bush administration huddles with major lenders to finalize a relief plan for subprime borrowers, new results from a survey conducted by Harris Interactive® on behalf of the National Taxpayers Union (NTU) warn against the government going too far. ...


Chase Hires Jim Flood as Manager for Home Lending in South Florida

RISMEDIA, Dec. 6, 2007-Chase, one of the nation's leading residential housing lenders, announced that mortgage professional Jim Flood has joined the company as area manager for Home Lending in South Florida ...


Bank of Canada Cuts Base Rate to 4.25%

RISMEDIA, Dec. 5, 2007-According to a report by MarketWatch, The Bank of Canada said it's cutting its target rate by a quarter-point to 4.25%, citing inflation figures that were below expectations and downside risks to the bank's inflation projection. ...


New HUD Data Shows Program Has Helped 33,000 Prevent Foreclosures

RISMEDIA, Dec. 4, 2007-In response to the Bush Administration's plan to help families avoid foreclosure, tens of thousands of homeowners are refinancing their exotic subprime loans with HUD's new government-backed mortgage product. HUD Secretary Alphonso Jackson announced that more than 33,000 borrowers have already refinanced their subprime home loans with ...


Subprime Crisis Exposes Deficiencies in Risk Management among Financial Institutions Globally

RISMEDIA, Dec. 4, 2007-The recent crisis in the subprime lending market exposed structural deficiencies in the financial system globally, particularly around the area of risk management. New research from TowerGroup finds that many financial institutions continue to view and manage risk in the traditional fashion -- as a threat that ...


Mortgage Applications Decrease In Latest MBA Weekly Survey

RISMEDIA, Nov. 26, 2007-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending November 16, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 681.7, a decrease of 3.6% on a seasonally adjusted basis from 707.3 one week earlier. On an ...


Employers to See Reduced Health-care Costs Next Year, Survey Shows

RISMEDIA, Nov. 26, 2007-(MCT)-Health-care cost inflation will moderate for the average employer next year as companies shift more costs to workers and promote wellness, according to a survey released last week. ...


Mortgage Applications Decrease In Latest MBA Weekly Survey

RISMEDIA, Nov. 26, 2007-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending November 16, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 681.7, a decrease of 3.6% on a seasonally adjusted basis from 707.3 one week earlier. On an ...


HUD to Take Over Rental Housing Assistance for Residents Affected by 2005 Hurricanes

RISMEDIA, Nov. 21, 2007-Nearly 30,000 residents affected by the 2005 Gulf Coast hurricanes will continue to receive housing assistance when the U.S. Department of Housing and Urban Development (HUD) assumes control of the Federal Emergency Management Agency's (FEMA) rental program on December 1, 2007. HUD continues to work with its ...


Inflation’s Return: Is it here to stay?

RISMEDIA, Nov. 20, 2007-(MCT)-Has a generation of steady or falling prices come to an end? ...


Regional Spotlight: New Campaign Helps Dreams Come True For Michigan Residents

RISMEDIA, Nov. 19, 2007-The Michigan State Housing Development Authority (MSHDA) and the Michigan Hispanic Caucus have announced the release of the latest in a series of tools aimed to make homeownership a reality for Michigan's Hispanic population. ...


Chase Opens Mortgage Office in Princeton, New Jersey

RISMEDIA, Nov. 12, 2007-Chase, one of the nation's leading residential housing lenders, announced the opening of its first mortgage office in Princeton, New Jersey. Chase also hired five mortgage professionals with a combined 92 years experience to support the new office at 821 Alexander Road East and the area. ...