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11/10/2008 News For:

Bournemouth Mortgage Quote

GM says GMAC mortgage unit may not survive  DETROIT -- Bad news kept piling up for General Motors Corp. on Monday as its shares plunged to their lowest point in 60 years and the company said in a government filing that the mortgage unit of its finance arm may not survive.

US mortgage finance giant Fannie Mae posts 29 bln dlr loss   Fannie Mae, the US mortgage finance giant bailed out by the government, reported Monday a third-quarter loss of 28.99 billion dollars due to the slump in the real estate sector.

Nationwide's mortgage lending fell 72 pct in 1H   British lender Nationwide Building Society said Monday mortgage lending fell 72 percent in the first half of its financial year, as home buyers were deterred by a crashing property market and mortgage rates were boosted by the credit crunch.

St. Louis Blues contest pays mortgage or rent   The St. Louis Blues are responding to tight economic times with a fan bailout plan. The team announced Monday that at every remaining Saturday home game beginning Nov. 29, the organization will call the seat number of a fan and pay that person's mortgage or rent for four months, up to $4,000 total.

GM says GMAC mortgage unit may not survive  Bad news kept piling up for General Motors Corp. on Monday as its shares plunged to their lowest point in 60 years and the company said in a government filing that the mortgage unit of its finance arm may not survive. GM also said that Delphi Corp., its...

GM says its troubled GMAC mortgage unit might not survive  General Motors Corp. says the troubled mortgage industry and frozen credit markets have raised doubts that the mortgage business of its GMAC financial arm can survive.

Fannie Mae loses $29 bln on tax, mortgage charges  BOSTON MarketWatch -- Mortgage-finance giant Fannie Mae on Monday reported a $29 billion third-quarter loss as the company continued to get slammed by the housing crunch and the upheaval in credit markets.

Two St. Louis area men indicted by feds for mortgage fraud  Two area men have been indicted on 34 federal charges in a mortgage fraud scheme involving the sale of residential real estate in Sikeston, Mo., U.S. Attorney Catherine L. Hanaway announced today.

GM shares sink, says GMAC mortgage unit may not survive  Bad news kept piling up for General Motors today as its shares plunged to their lowest point in 60 years and the company said in a government filing that the mortgage unit of its finance arm may not survive.

Summary Box: Mortgage titan Fannie Mae may need government aid as losses rise   - THE RESULTS: Government-controlled mortgage giant Fannie Mae posted a $29 billion loss in the third quarter, mainly from a more than $21 billion tax-related charge. The company also lost more than $9 billion as a result of bad loans.