Word Of The Year: Bailout

Word of the Year: Bailout

"Bailout" was looked up so often at Merriam-Webster's online dictionary site that the publisher named it the 2008 Word of the Year. Defined as "a rescue from financial distress," "bailout" prompted hundreds of thousands of online lookups within just a…

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The Email That Set Off A Storm

The Email that Set Off a Storm

The CEO of mortgage company Countrywide Financial Corp. didn't make many friends when he dismissed a customer's complaint as "disgusting." Angelo Mozilo, CEO of the beleaguered company, accidentally hit "reply" instead of "forward" when he received a customer e-mail from…

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Bailout Bill

Bailout Bill

Who wins with the new housing bailout bill that is expected to pass in the next few days? Pretty much everyone (except, possibly, the U.S. taxpayer). The massive giveaway applies not only to overextended borrowers and their mortgage lenders but…

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Fannie And Freddie

Fannie and Freddie

With troubled mortgage businesses Fannie Mae and Freddie Mac (owners of about half of the mortgages in America) dominating the news, people are asking, "Yes, but how is this going to affect me?" This New York Times article provides a…

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Zippy Cheats And Tricks

Zippy Cheats and Tricks

I've heard stories of how unscrupulous mortgage brokers may have pushed their customers into bad loans, but now OregonLive.com has uncovered a JPMorgan Chase memo titled "Zippy Cheats and Tricks." Wow, the audacity is amazing. The memo tells agents how…

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Interest Rates And Mortgages

Interest Rates and Mortgages

You'd think the Fed's recent move to cut interest rates would also cut mortgage rates, right? Not necessarily. As this article from Yahoo/CNNMoney.com explains, long-term mortgage rates are mostly tied to the 10-year Treasury yield, not short-term rates as set…

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