Posts Tagged ‘Economic Impact’

Look for higher fees as banks look for profits

Written by Leatherneck on September 16, 2007 under Archives, Economic Impact

Banks are trying to make a few dollar more by making changes. Bank of America recently raised ATM fees to $3 in most locations. The average ATM surcharge for non-customers was $1.64 in 2006, nearly double that in 1998, according to Bankrate.com. Banks are also boosting other fees, often assessing $35 fees on account overdrafts and $39 late fees on credit cards.

Value of Dollar Drops for Overseas Investors

Written by Timothy Blake on September 15, 2007 under Archives, Economic Impact, Editorial

One after another, the economists who took the lectern at last week’s monetary symposium at Jackson Hole, Wyoming, devoted themselves to the sub-prime debacle facing the American economy. There is the likelihood of plummeting house prices – one eminent professor talked of 40% declines, and their long-term effect on the dollar.

Mortgage Industry Keeps Cutting Workforce

Written by Leatherneck on September 09, 2007 under Archives, Economic Impact, Job Losses

More than 15,000 jobs have been eliminated this week alone, as IndyMac Bancorp, National City Corp. and Lehman Brothers Holdings Inc. announced reductions. More than 100 mortgage companies have sought buyers or halted lending since the start of 2006. Countrywide Financial Corp., the nation’s biggest mortgage company, may reduce its workforce by 10,000 to 12,000 in the next three months, a 20 percent cut.

Let the Foreclosures Begin

Written by Leatherneck on September 06, 2007 under Archives, Economic Impact, Foreclosure

It is about to begin as lenders and borrowers both sing the mortgage blues. Foreclosure numbers are in, and we must ask if any lenders are going to re-state their income or take bigger mark-downs as a result.

Personal Credit Hammered by Late Payments

Written by Timothy Blake on August 28, 2007 under Archives, Economic Impact

Dire predictions are circling about credit card woes in the future. When a payment, any payment, is reported late to the credit reporting companies, your credit card interest rate can jump to 28.9 percent or more. Your credit card may not be late, but if your home mortgage or car payment is late your credit card rate will reflect it.

« Older Entries
Newer Entries »

Our Sponsors

<
Our Partners Selected Articles


© Copyright 1998 - 2012 Mortgage Crisis Daily | 55 queries in 0.362 seconds.