International Business News - CFC http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The May reading of an index that tracks pending U.S. home sales is forecast to dip after posting an unexpected increase a month earlier. The National Association of Realtors' report on pending home sales is scheduled to be released Tuesday at 10 a.m. EDT. http://www.ibtimes.com/articles/20080708/ahead-of-the-bell-pending-home-sales.htm Tue, 08 Jul 2008 06:09:59 EDT The pace of the mortgage industry's efforts to assist troubled borrowers declined in May, as critics questioned lenders' progress in aiding U.S. homeowners facing foreclosure. http://www.ibtimes.com/articles/20080702/pace-of-mortgage-aid-by-industry-dropped-in-may.htm Wed, 02 Jul 2008 16:05:16 EDT Industry data to be released Wednesday will show whether home loan applications fell for the third straight week as mortgage rates continued to rise. The Mortgage Bankers Association is scheduled to report its index of mortgage application volume for the week ended June 27 at 7 a.m. EDT. Application volume has fallen to lowest level since late 2001 as interest rates have surged over the past month. http://www.ibtimes.com/articles/20080702/ahead-of-the-bell-mortgage-applications.htm Wed, 02 Jul 2008 06:11:28 EDT Florida's attorney general alleged Tuesday that Countrywide Financial Corp., the nation's largest mortgage lender, engaged in deceptive practices that left borrowers in the state with mortgages they couldn't afford. http://www.ibtimes.com/articles/20080701/fla-ag-says-countrywide-deceived-borrowers.htm Tue, 01 Jul 2008 15:47:18 EDT Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE http://www.ibtimes.com/articles/20080701/ford-constellation-apple-among-big-movers.htm Tue, 01 Jul 2008 16:53:50 EDT Fitch Ratings said Tuesday it maintained its ratings on Countrywide Financial Corp. after Bank of America Corp. completed its acquisition of the mortgage lender. http://www.ibtimes.com/articles/20080701/fitch-maintains-countrywide-financials-ratings.htm Tue, 01 Jul 2008 12:18:04 EDT Credit ratings agency Standard & Poor's said Tuesday it raised its ratings on Countrywide Financial Corp. to match those of Bank of America Corp. Countrywide now carries a counterparty rating of "AA," considered investment grade. Countrywide was previous rated "BB+," considered junk status. http://www.ibtimes.com/articles/20080701/countrywide-ratings-upgraded-by-standard-poors.htm Tue, 01 Jul 2008 11:55:49 EDT Bank of America Corp. completed its purchase of Countrywide Financial Corp. Tuesday, making the Charlotte-based bank the nation's leading mortgage originator and servicer. http://www.ibtimes.com/articles/20080701/bofa-completes-deal-for-countrywide-financial.htm Tue, 01 Jul 2008 18:04:03 EDT Florida will be taking legal action against Countrywide Financial Corp. for what Attorney General Bill McCollum calls misleading and unfair trade practices. http://www.ibtimes.com/articles/20080630/florida-attorney-general-sues-lender-countrywide.htm Mon, 30 Jun 2008 17:51:16 EDT Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE http://www.ibtimes.com/articles/20080627/bank-of-america-kb-home-among-big-movers.htm Fri, 27 Jun 2008 17:20:30 EDT Bank of America said Thursday it will cut about 7,500 jobs after it closes its acquisition of mortgage lender Countrywide Financial Corp. The job cuts amount to about 12.5 percent of the combined companies' mortgage, home equity and insurance businesses, after the purchase is completed next week. http://www.ibtimes.com/data/articleimgs/80529-bank-of-america-countrywide.jpg http://www.ibtimes.com/articles/20080627/bofa-to-cut-7-500-jobs-after-countrywide-deal.htm http://www.ibtimes.com/articles/20080627/bofa-to-cut-7-500-jobs-after-countrywide-deal.htm Fri, 27 Jun 2008 05:29:17 EDT The Dow Jones industrial average plunged Thursday, and all 30 component stocks declining following a new surge in oil prices and concerns about key sectors of the economy, including the financial, high-tech and automotive sectors. http://www.ibtimes.com/articles/20080626/djia-leaders-laggards-gm-bac-c-axp.htm Thu, 26 Jun 2008 16:38:05 EDT Bank of America said Thursday it will cut about 7,500 jobs after it closes its acquisition of mortgage lender Countrywide Financial Corp. The job cuts amount to about 12.5 percent of the combined companies' mortgage, home equity and insurance businesses, after the purchase is completed next week. http://www.ibtimes.com/articles/20080626/bofa-to-cut-7-500-jobs-after-countrywide-deal-closes.htm Thu, 26 Jun 2008 16:37:14 EDT Standard & Poor's CapitalIQ tracks deal spreads, or the difference between the offer price and the deal's current value. CapitalIQ reports that in June the following five buyouts had the highest spreads, as of June 4. http://www.ibtimes.com/articles/20080626/deltas-northwest-buyout-leads-deal-spreads-list.htm Thu, 26 Jun 2008 14:31:21 EDT Continued concern about deterioration in the credit markets has shares of financial-services firms tumbling Thursday, with most slipping more than broader market indexes. http://www.ibtimes.com/articles/20080626/sector-snap-financial-services-shares-fall.htm Thu, 26 Jun 2008 13:54:57 EDT Countrywide Financial Corp. shares fell sharply Thursday even as shareholders approved a $2.8 billion sale of the troubled mortgage lender to Bank of America Corp. http://www.ibtimes.com/articles/20080626/countrywide-shareholders-approve-sale-to-bofa.htm Thu, 26 Jun 2008 12:54:46 EDT A foreclosure rescue plan that has broad bipartisan support stalled in the Senate on Wednesday in a dispute over taxes. Democrats and many Republicans were pushing for quick approval of the bill, which would allow the government to back $300 billion in new, cheaper mortgages for debt-ridden homeowners facing foreclosure. http://www.ibtimes.com/articles/20080626/housing-foreclosure-rescue-bill-stalls-in-senate.htm Thu, 26 Jun 2008 08:21:02 EDT An industry group's report due Thursday is expected to show that sales of existing homes rose by more than 2 percent in May, an indication that buyers may finally be taking advantage of sharply discounted prices. http://www.ibtimes.com/articles/20080626/ahead-of-the-bell-existing-home-sales.htm Thu, 26 Jun 2008 06:08:28 EDT Countrywide Financial Corp.'s shareholders cleared the way Wednesday for the company to be taken over by Bank of America Corp., even as officials in two states filed lawsuits claiming the distressed mortgage lender misled borrowers into taking on risky home loans. http://www.ibtimes.com/articles/20080625/countrywide-shareholders-approve-takeover-by-bofa.htm Wed, 25 Jun 2008 18:02:53 EDT Washington Gov. Chris Gregoire on Wednesday accused Countrywide Financial Corp. of discriminatory and predatory lending practices that targeted minority borrowers. http://www.ibtimes.com/articles/20080625/wash-governor-goes-after-countrywide-financial.htm Wed, 25 Jun 2008 16:49:34 EDT