Archive for 'Mortgage'
More than one million British risk to be left without a roof over the head!
8 February 2008More than one million British will experience difficulties with refunding mortgage credits, if economy deceleration will force banks to continue toughening of lending money criteria, is said in the sixth annual «Forecast of financial risks», made the British Financial Services Authority (FSA).
FSA emphasizes three high risk factors, which can force homeowner to declare mortgage credit [...]
Deutsche Bank will get seven towers on Manhattan for debts
5 February 2008Deutsche Bank has got the right to dispose of seven skyscrapers on Manhattan which were left as a deposit to the credit given by the organization in February, 2007 to businessman Harry Macklowe.
The businessman has bought towers for seven billions dollars, having borrowed from Deutsche Bank 5,8 billion dollars and 1,2 billion dollars from [...]
FBI has concerned with the American credits
1 February 2008Federal Bureau of Investigation has started criminal inquest concerning 14 companies within the framework of the investigation concerning the crisis in the market of substandard mortgage credits.
The Wall Street Journal writes, referring to FBI representatives, the companies are not named, but suspicions in swindle at all steps of mortgage credits securitization are checked.
Earlier it was [...]
Swiss bank UBS closes its U.S Unit
30 January 2008UBS, the largest bank of Switzerland, closes the proprietary unit in the USA, engaged in investments of fixed income, informs Bloomberg. This measure is an attempt to lower risks by closing divisions with a low level of income and engaged in risky operations, such as allowance of credits in the United States. Also, the bank [...]
Middle February Russia will raise mortgage bank-rates and make requirements more rigid
25 January 2008Agency on mortgage housing crediting takes measures on strengthening of the mortgage market in Russia against the background of world mortgage crisis. This agency belongs to the state fully, from creation on the basis of the government’s decision up to a full share holding.
The initial installment will be increased from 10 up to 20 percent, [...]
EBRD: Russian mortgage is unreliable and inconvenient
22 January 2008Russian legislation is one of the most inconvenient for development of mortgage lending in Europe. To such conclusion came analytics of the European Bank for Reconstruction and Development in the report “Mortgage in transitional economies”.
Authors of the report cleared up compliance of legislation and application of mortgage law in Central and East Europe, and also [...]
The Russian bank will lend out money in yens
18 January 2008Bank of Moscow has declared launch of the program of mortgage lending in Japanese yens. For the nearest three months they are going to lend out for the sum of 30-35 million dollars, declared the managing director of Bank of Moscow Alla Tsytovich. The crediting rate will make six interests per annum.
Under this program [...]
Mortgage crisis in the USA knocks Russia (Part 2)
17 January 2008A number of Russian banks have experienced problems with liquidity. Long-term credits inside the country were frequently lent out on short-term credits taken abroad in hope for their refinancing. However mortgage crisis in the USA has overset these plans. Russian investors unexpectedly were sought for. Having lost an opportunity of being loaned up abroad, banks [...]
Mortgage crisis in the USA knocks Russia (Part 1)
9 January 2008The economy has lost cheap credits, the companies have postponed IPO, and banks have experiences problems with liquidity.
The main event for the world economy last year was mortgage crisis in the USA, which at once has developed into “credibility gap” of financial institutions in the world market. Artificial stimulation of the American economy - [...]
US Authorities Have Toughened Rules Of Lending Out Mortgage Loans
26 December 2007US Federal Reserve System has offered new rules of lending out mortgage loans.
These measures are aimed to cut volumes of high-risk mortgage credits.
In particular, new rules ban lending out credits to persons who cannot documentary confirm the declared level of their income.
Also the creditor will be obliged to set up a [...]
