Lending Agencies Restart Burma Loan Programs

Posted on 28 Jan 2013 In: loan

Lending Agencies Restart Burma Loan ProgramsNews from Voice of America:International lending agencies have agreed to restart loan programs for Burma after a 25 year break, rewarding that nation for reforms introduced since the end of a military dictatorship in 2011.

The Asian Development Bank and the World Bank said Monday that Burma’s existing $ 900 million debt to the two agencies will be restructured, allowing them to offer additional loans in the future. 

Burma became ineligible for new development loans in 1987, when its then-military rulers stopped paying down existing debts. 

But, the reformist government that […] Continue Reading…

Mortgage Rates Rolled Back 4 Months Of Win; What’s Next For Markets?News from The Mortgage Reports:Mortgage rates and markets change constantly. Stay 100% current by taking The Mortgage Reports by email each day. Click here to get free email alerts, or subscribe to the RSS feed in your browser.

Last week was a rough one for mortgage rate shoppers. Mortgage rates of all types jumped, moving to multi-month highs.
In a holiday-shortened week of trading, the Fannie Mae 30-year 3.0% coupon moved -21/32 to close at 103.5; and FHA and VA mortgage rates worsened, too, as […] Continue Reading…

Mortgage-modification program still has a long way to go

Posted on 27 Jan 2013 In: loan

Mortgage-modification program still has a long way to goNews from Washington Post:
Alfreda Williams has been on the front lines for a long time, shepherding people through some tough battles.
Williams is a senior foreclosure counselor for HomeFree-USA, one of the many agencies across the country approved by the Department of Housing and Urban Development to help people save their homes if possible. Williams has seen the ugly side of the expensive and predatory mortgages that helped create the housing crash we’ve been trying to recover from for the last several years.

“The hardest thing for me […] Continue Reading…

ECB Says Banks to Make 137 Billion-Euro Loan Repayment Next WeekNews from Bloomberg:
The European Central Bank said 278 banks will hand back 137.2 billion euros ($ 184.4 billion) of its three-year loans next week at the first opportunity for early repayment.
That compares with the median forecast of 84 billion euros in a Bloomberg News survey of economists. Some 150 billion euros of the first three-year loan, which totaled 489 billion euros, will be given back early as banks continue to repay the funds over coming weeks, according to the survey.
The Frankfurt-based central bank […] Continue Reading…

San Bernardino County abandons eminent domain mortgage plan

Posted on 24 Jan 2013 In: loan

San Bernardino County abandons eminent domain mortgage planNews from Los Angeles Times:
San Bernardino County and two of its cities abandoned a plan that would use eminent domain to seize troubled mortgages and write down debt for homeowners.
A Joint Powers Authority that the county and the cities formed last year to study the idea voted unanimously on Thursday to shelve the proposal. Greg Devereaux, county chief executive and chairman of the authority, said the group decided to give up on the idea due to a lack of public support.
“We are taking that off the table,” […] Continue Reading…

HSH.com Weekly Mortgage Rates Radar: Mortgage Rates Rise Slightly This WeekNews from San Francisco Chronicle:
HSH.com releases its latest Weekly Mortgage Rates Radar showing a slight increase in mortgage rates from the previous week. The Weekly Mortgage Rates radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).
Foster City, CA (PRWEB) January 23, 2013
Rates on the most popular types of mortgages rose slightly, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming […] Continue Reading…

Brightoil Has ‘Healthy’ Cash Available After Loan-Term BreachNews from Bloomberg:
Brightoil Petroleum Holdings Ltd. (933), Singapore’s third-largest supplier of marine fuel, said it has a “healthy” amount of cash available, and operations haven’t been affected by a breach of its loan agreement.
The company is applying for waivers with its banks to prevent possible default on loans, Ella Mak, a Hong Kong-based spokeswoman, said by telephone today.
Brightoil has breached the interest-coverage ratio covenant on at least one loan relating to vessel financing, the company said in a statement on Jan. 16. It also expects to have […] Continue Reading…

Djibril Cisse leaves QPR on loan to Al Gharafa

Posted on 20 Jan 2013 In: loan

Djibril Cisse leaves QPR on loan to Al GharafaNews from Yahoo! Sports:QPR striker Djibril Cisse has joined Al Gharafa on loan until the end of the season.The Frenchman had scored four goals in 21 appearances for the Rs in 2012-13 but was deemed a surplus to new manager Harry Redknapp’s requirements following the signing of Loic Remy from Marseille.Remy scored his first goal for his new club in Saturday’s 1-1 draw with West Ham, with Jay Bothroyd and Junior Hoilett edging Cisse out for a space on the bench.The…………… […] Continue Reading…

IMF in loan talks with Tunisia: senior official

Posted on 19 Jan 2013 In: loan

IMF in loan talks with Tunisia: senior officialNews from Al-Arabiya:IMF director for the MENA, Masood Ahmed, said that he expected progress during the negotiation with Tunisia on a loan program to recuperate the economy amid crisis-hit euro zone and domestic political disputes. (Reuters)

The International Monetary Fund has begun negotiations with Tunisia on a loan program and is reviewing budget measures in Egypt before it moves forward with talks on a crucial $ 4.8 billion funding deal, a senior IMF official said on Friday.Masood Ahmed, IMF director for the Middle East and North Africa, […] Continue Reading…

New rules cut link between mortgage terms, brokers’ fees

Posted on 19 Jan 2013 In: loan

New rules cut link between mortgage terms, brokers’ feesNews from Washington Post:
In the years before the financial crisis, mortgage originators were rewarded with bonuses and higher pay for steering millions of Americans into risky and unsustainable home loans.
Starting next January, however, brokers’ and loan officers’ compensation will no longer be based on the terms of the mortgages they originate, according to new guidelines released Friday by the Consumer Financial Protection Bureau.

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Steven Mufson
Some former hostages have bee…………… continues on Washington Post
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