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USA, Mortgage Timeline Tuesday, April 24 Bookmark and Share     Author
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  US banks in mortgage settlement  5 of the biggest US banks have agreed to provide $25bn in assistance to homeowners to settle claims over improper foreclosure practices Freddie Mac chief found dead  Washington: 41-year-old David Kellermann, the acting chief financial officer of struggling mortgage giant, has been found dead Another top European bank falters   Germany: Germany's 2nd-largest mortgage lender, Hypo Real Estate, is teetering on the brink of collapse after a banking consortium withdrew from talks Asian Markets jump on US mortgage deal  Japan: Shares in Asia have rallied after the US government said that it was taking over troubled Freddie Mac and Fannie Mae US takes over key mortgage firms
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Real Estate Main Event: US takes over key mo...
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B. 2013-02-04 US 'will sue' Standard & Poor's New York
C. 2013-01-07 US bank to pay $12bn settlement North Carolina
D. 2009-04-22 Freddie Mac chief found dead Washington
E. 2008-10-04 Another top European bank falters Germany
2008-09-07 US takes over key mortgage firms Washington
6. 2008-07-26 Senate approves housing bill U.S. Senate
H. 2008-07-13 US moves to bolster lending firms Washington
8. 2008-06-19 FBI holds 406 for mortgage fraud FBI

US bank to pay $12bn settlement
US 'will sue' Standard & Poor's

year 2013 Top ^

  New York: Standard & Poor's says it is to be sued by US government over the credit ratings agency's assessment of mortgage bonds before the financial crisis
  North Carolina: Bank of America has agreed to pay US government mortgage agency Fannie Mae $3.6bn to settle claims relating to residential home loans

year 2012 Top ^


year 2009 Top ^


year 2008 Top ^

  Washington: US financial officials have outlined plans for the government to take over Freddie Mac and Fannie Mae, the largest bail-outs in US history
Aug.8 Fannie Mae unveils loss of $2.3bn  Problems in the US housing market have pushed mortgage finance company into the red Jul.26 Senate approves housing bill  U.S. Senate: The Senate has approved a $300bn rescue fund designed to prop up battered housing market. It may also be used to bail out the mortgage giants Jul.13   US moves to bolster lending firms  Washington: The government has announced sweeping measures to shore up the nation's largest mortgage finance companies, Freddie Mac and Fannie Mae Jul.11 Mortgage firms' shares slump
  Shares in Freddie Mac and Fannie Mae have fallen by more than 40% in early trading amid concerns for the future of the companies
Jun.19 FBI holds 406 for mortgage fraud  The Justice Department was pursuing 144 cases. The arrests include estate agents and loan originators, who help homebuyers to take out loans Apr.18   Bank 50bn mortgage rescue plan  London: The Bank of England will next week unveil a plan to swap government bonds for British banks' mortgages Mar.19 Bank shares plunge in market turmoil   United Kingdom: Britain's biggest mortgage lender Halifax Bank of Scotland saw shares dive nearly 20% before recovering Jan.15   Citigroup's $9.8bn sub-prime loss  New York: The banking giant has reported a $9.83bn net loss for the last 3 months of 2007 caused by a $18.1bn exposure to bad mortgage debt

year 2007 Top ^

Sep.7 Mortgage lender Countrywide slashes jobs  California: Chief Executive Angelo Mozilo: Countrywide Financial was being forced to cut up to 12,000 jobs, 1/5 of its staff Aug.9   Mortgage concerns hit US markets
  The share indexes tumbled amid fears that a wobble in the mortgage market may prompt a global credit crunch. Dow Jones fell 199.24
 The subprime mortgage crisis caused by a dramatic rise in mortgage delinquencies and foreclosures in the United States triggered the financial crisis, with major adverse consequences for banks and financial markets around the globe. The result has been a decline in the capital of banks and USA government sponsored enterprises, tightening credit around the world

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