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Citigroup nears compromise on some home loans (AP via Yahoo! News)
Citigroup Inc. is in advanced talks with lawmakers on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures, a person briefed on the matter said Thursday.
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Merrill Said to Seek Buyers for EU138 Million of Buyout Loans (Bloomberg)
Jan. 8 (Bloomberg) -- Merrill Lynch & Co. sought bids for 138 million euros ($190 million) of high-risk, high-yield loans used to fund leveraged buyouts, according to two people with knowledge of the matter.
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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.
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Citigroup nears compromise on home loans (SouthtownStar)
Citigroup Inc. is in advanced talks with lawmakers on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures, a person briefed on the matter said today.
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Alliance Bank: Credit card loans to grow further (Business Times (Malaysia))
ALLIANCE Bank Malaysia Bhd expects credit card loans to grow further despite the slowing economy. The bank, which now has 6 per cent of the country's credit card market, has launched its latest card that offers half the annual interest charge, among others. It plans for more launches this year.
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Autoworkers union begins discussing concessions needed so GM, Chrysler can keep gov't loans (Minneapolis-St. Paul Star Tribune)
DETROIT - United Auto Workers union bargaining officials are arriving in Detroit this week to begin discussing wage and benefit concessions they must make so General Motors Corp. and Chrysler LLC can keep their federal loans.
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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.
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Fewer apply for home loans; credit line delinquencies increase (Los Angeles Times)
The average interest rate for 30-year mortgages rises, while rates for 15-year and adjustable-rate loans fall. Fewer Americans applied for mortgages last week and more have been missing payments on their home equity lines of credit, according to surveys released Wednesday.
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BLACK'S APOLLO OWED $2B IN BACK LOANS FROM LYONDELL (New York Post)
Apollo Management, the private-equity firm led by Leon Black, holds about $2 billion of loans from Lyondell Chemical, which filed for bankruptcy protection, people with direct knowledge of the matter said. Apollo is now a member of a lending...
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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.
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