2007-08
18 06:30:55Fed approves cut in discount loan rate
WASHINGTON (AP) - 0817b--fed--markets
The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis.
2007-08
18 04:24:55Stocks rebound on discount rate cut
NEW YORK (AP) -
0817b--Wall-
Street
0817dv--closing-
bell
Stocks barreled higher Friday after the Federal Reserve did what Wall Street was clamoring for and cut its key discount rate a half percentage point. The move quelled investors' credit worries at least for the time being and sent the Dow Jones industrials up about 230 points.
2007-08
18 04:11:06Radian draws on credit, faces lawsuits
PHILADELPHIA (AP) - Radian Group Inc., one of the nation's largest mortgage insurers, has drawn down half its credit line and faces shareholder lawsuits accusing the company of securities violations.
2007-08
18 02:27:12Radian draws on credit line, faces suits
PHILADELPHIA (AP) - Radian Group Inc., one of the nation's largest mortgage insurers, has drawn down half its credit line and faces shareholder lawsuits accusing the company of securities violations.
2007-08
18 00:06:51Mortgage mess creates lending drought
SAN FRANCISCO (AP) - Mortgage broker Ed Smith Jr. has been arranging home loans for 24 years and it's never been tougher for him to close a deal than during the past few weeks of turmoil.