Select Your Bank In A Wise Way
July 24, 2008
Most of us will have at least one bank account in a bank. Yes no one will store all his or her money at home these days. However, one thing you should understand is that the function of a bank is more than a place to store your money. As a result, you should try to select your bank wisely. Choosing a bank is just like shopping. You have to compare prices in various shops. You may need to visit shop after shop before you actually purchase. This is also true when you are choosing your bank. You may... Read more »
Mortgage Interest Rates Fall Again
July 24, 2008
For the second week in a row mortgage rates have fallen. For those that don’t read my updates regularly I wanted to give a short background on what rates have been doing. From the end of April to the beginning of June 30 year mortgage rates hovered around 6 percent. Then during the month of June 30 year mortgage interest rates rose peaking out at 6.45 at the end of June. But since then rates have fallen through the month of July ot 6.26. So we are not down to 6 but rates have come down... Read more »
Washington Mutual Bank: Growing Through Good Times and Bad
July 18, 2008
Washington Mutual (Wamu) Bank is a business that goes by the old adage, “If you’re not growing, you’re dying.” Wamu has a very long history coming into modern times of mergers, buy outs, and the type of expansion that have kept them a growing and thriving business through both good and bad economic times. Any bank that is capable of this type of consistent growth usually shows a history of good decisions and the type of solid foundation that indicates an admirable business... Read more »
Washington Mutual Bank: A Long History with the Community
July 18, 2008
Washington Mutual Bank, better known as WaMu, is one of the largest banks in the United States. Originally based in the Washington state area, WaMu has since expanded to be a national company that even has its stock actively traded on the American stock market. One of the aspects of this history that makes this bank especially interesting is the fact that they are constantly on the forefront of innovation. There are many examples of Washington Mutual being one of the first banks to experiment with... Read more »
Bend Oregon Mortgage Defaults Skyrocket
July 18, 2008
The Bend Bulletin reported Sunday that the Bend Oregon real estate market is not doing well. There were 788 notices of default filed in Deschutes County for the first six months of 2008. A notice of default occurs when the mortgage lender files a notice of foreclosure. Lenders generally file notices after a borrower is two to three months behind on their payments. As foreclosures increase lenders tend to file notices sooner to try and cut their losses. There were 192 notices of default filed in... Read more »
How Safe is Personal Online Banking?
July 17, 2008
As the use of the Internet continues to expand, more banks and thrifts are using the convenience and ease of the Web to offer products and services, as well as enhance communication with customers. According to the Federal Deposit Insurance Corporation (FDIC), the Internet offers the potential for safe, convenient ways to shop for financial services and conduct banking business - 24/7. However, to ensure safe banking, customers need to be educated in making good decisions that protect them from costly... Read more »
Bradford & Bingley - How To Bungle A Share Issue
July 16, 2008
The problems besetting Bradford and Bingley started on 14 April 2008 when it denied reports that it intended to raise funds through a rights issue of new shares and sought to reassure depositors, shareholders and the market that it had a strong capital and liquidity base. On 22 April, Mr Stephen Crawshaw, the Chief Executive, stated that he saw ‘excellent growth’ during the first quarter of 2008 and that the bank was well funded. However, on 14 May, B&B announced a rights issue,... Read more »
US Banks Are In Trouble
July 16, 2008
In recent times, the status of our economy has really been questioned. From the weakening of the American dollar to an increasing amount of debt, the countries current financial crisis has continued to dwell and even breed. Now, in recent weeks, concerns are being rose up about the status of our banks. From local institutions to corporate lending companies, companies are feeling the effect all across the board. One of the nations largest companies to close in recent history, Indymac, symbolizes the... Read more »
IndyMac Bank Failure is a Clear Warning
July 15, 2008
Hard times are on the way as evidenced by the collapse of IndyMac. In what will probably turn out to be the most expensive bank failure ever, troubled mortgage lender IndyMac Bank was taken over by federal regulators on Friday, July 11, 2008. All operations of the Pasadena, Calif.-based bank, once one of America’s largest home lenders, were shut down at 3 p.m. by the Office of Thrift Supervision and transferred to the Federal Deposit Insurance Corp ( FDIC). It is estimated that with the takeover... Read more »
Online Banking and E-Commerce: Terms and Definitions
July 9, 2008
Access to information and entertainment, credit and financial services, and products from every corner of the world is greater than earlier generations could ever have imagined. Thanks to the Internet, consumers may order products, download games and music, or conduct online banking 24 hours a day. However, the flip side is that the Internet also affords online scammers, hackers, and identity thieves access to personal computers, information, finances, and much more. According to the Federal Trade... Read more »
