2 Articles match "2006","Federal","New York"

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Subprime Market Sinking Further Into the Abyss
Borrowers began feeling the effects of those resets during the second half of 2006. The latest victim of its own success is New Century Financial Inc. based lender announced that it was the subject of a federal investigation into charges of accounting errors and stock trading, according to a Reuters report published Monday. The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Back to Wait and See for the Fed
The Federal Open Market Committee took the advice Wednesday of all the financial analysts and market watchers and did absolutely nothing with the short term Federal Funds Rate (FFR). After whittling away at the rate over time from a high of 5.25 percent back in August 2007 down to 2 percent last month, the Fed has decided to go back to the wait-and-see stance Chairman Ben Bernanke established when he first took over the reins of the agency back in August 2006. At that time former Fed Chairman Alan Greenspan had just finished adjusting the rate upward 17 consecutive times. Of
www.foreclosurepulse.com - Tuesday, December 16, 2008
READ MORE
  • The Best from RealtyTrac MORE
  • Subprime Market Sinking Further Into the Abyss
    Borrowers began feeling the effects of those resets during the second half of 2006. The latest victim of its own success is New Century Financial Inc. based lender announced that it was the subject of a federal investigation into charges of accounting errors and stock trading, according to a Reuters report published Monday. The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Back to Wait and See for the Fed
    The Federal Open Market Committee took the advice Wednesday of all the financial analysts and market watchers and did absolutely nothing with the short term Federal Funds Rate (FFR). After whittling away at the rate over time from a high of 5.25 percent back in August 2007 down to 2 percent last month, the Fed has decided to go back to the wait-and-see stance Chairman Ben Bernanke established when he first took over the reins of the agency back in August 2006. At that time former Fed Chairman Alan Greenspan had just finished adjusting the rate upward 17 consecutive times. Of
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE