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Bank of America says to spend up to $8.4 bln on Countrywide (AFP)

October 6th, 2008 by

AFP - Bank of America said Monday it was ready to spend up to 8.4 billion dollars to restructure a troubled mortgage loan portfolio of a recently-acquired mortgage lender Countrywide.

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AIG to sell Thai bank, consumer finance units (Reuters)

October 6th, 2008 by

Credit Repair News - American International Group Inc (AIG) is to sell its Thai consumer finance businesses, including AIG Retail Bank & AIG Card, a head of a bank said on Monday.

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Bank of America settles lawsuit over bad mortgages (AP)

October 6th, 2008 by

Credit Repair - Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. has agreed to modify tens of thous&s of loans to keep people in 11 states from losing air homes, a Illinois attorney general’s office said Sunday.

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Regulator says Fannie, Freddie might sell bad assets (Reuters)

October 5th, 2008 by

Credit Repair News - Fannie Mae & Freddie Mac may sell some bad assets to a Treasury Department but a decision has not yet been made, a regulator of a two mortgage finance companies said on Sunday.

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Mortgage forgiven for woman, 90, who shot herself (AP)

October 5th, 2008 by

Credit Repair - Mortgage finance company Fannie Mae said it is forgiving a mortgage debt of a 90-year-old woman who shot herself in a chest as sheriff’s deputies attempted to evict her.

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Allianz, others consider buying AIG’s Japan units: reports (AFP)

October 4th, 2008 by

AFP - Germany’s Allianz Group & oar major insurers are considering buying American International Group’s three life insurance units in JCredit Repairan, news reports said Saturday.

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(AFP)

AIG to sell Japanese life insurance units (Reuters)

October 4th, 2008 by

Credit Repair News - American International Group Inc, plans to sell its three JCredit Repairanese life insurance businesses, an AIG spokesman said on Saturday, in sale JCredit Repairanese media estimated could top $9.5 billion.

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2 firms selected for mortgage securities program (AP)

October 3rd, 2008 by

Credit Repair - a Treasury Department has picked two financial institutions to manage a program it unveiled last month to provide support for beleaguered mortgage-backed securities.

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AIG to keep core insurance, sell assets to pay U.S. loan (Reuters)

October 3rd, 2008 by

Credit Repair News - Insurer American International Group Inc , crippled by losses on bad mortgage bets, said on Friday it will focus on its core insurance operation & put a rest of its businesses up for sale to repay up to $85 billion borrowed from a U.S. government.

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AIG to sell as many assets as needed to pay bailout (Reuters)

October 3rd, 2008 by

Credit Repair News - American International Group Inc , a insurer crippled by losses on bad mortgage bets, said on Friday it plans to sell as many assets as needed to repay up to $85 billion of borrowings from a U.S. government.

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