Second Loans LinksUPDATE: Failure To Deal With Bad Loans May Extend Crisis-OECD (Nasdaq) PennyMac, Led by Ex-Countrywide Head, Sees Promise in Bad Loans (Bloomberg) Delinquent loans jump to record in 2008 (The Columbus Dispatch) Auto news in brief: Credit union loans grow (Detroit Free Press) GM May Not Require Further U.S. Loans to Survive (Update4) (Bloomberg) |
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UPDATE: Failure To Deal With Bad Loans May Extend Crisis-OECD (Nasdaq)LONDON -(Dow Jones)- The failure of the U.S. and European governments to remove bad loans from banks before they are recapitalized may prolong the financial crisis, the Organization for Economic Cooperation and Development said Thursday. Read more...PennyMac, Led by Ex-Countrywide Head, Sees Promise in Bad Loans (Bloomberg)Jan. 8 (Bloomberg) -- Stanford Kurland, the former Countrywide Financial Corp. president, says his new company’s purchase of $558 million in home loans issued by a failed Nevada bank will be a springboard for further growth. Read more...Delinquent loans jump to record in 2008 (The Columbus Dispatch)BOSTON -- Late payments on consumer loans in last year's third quarter hit the highest level since record-keeping began in 1980, the American Bankers Association said yesterday. Read more...Auto news in brief: Credit union loans grow (Detroit Free Press)General Motors Corp. and Chrysler LLC, trying to boost sales after getting emergency federal loans, on Wednesday broadened pilot incentive programs at credit unions to the entire United States. Read more...GM May Not Require Further U.S. Loans to Survive (Update4) (Bloomberg)Jan. 7 (Bloomberg) -- General Motors Corp. said it has enough government loans to cover its worst-case forecast for U.S. auto sales and won’t need more if the economy holds up. Read more... |
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