Freddie Mac launches campaign for mortgage assumption refunds
Freddie Mac opened a drive to seek refunds for homeowners who paid high assumption fees on mortgages it underwrites. Executive VP William R. Thomas Jr. said the firm lacks power to force refunds but warned lenders could be barred from future Freddie Mac business. The effort follows a Cleveland Plain Dealer series reporting overcharges, with typical refunds around 400 dollars.
MENTIONED IN THIS ARTICLE
Washington
Federal Home Loan Mortgage Corp
William R. Thomas Jr
Freddie Mac
Thomas
Cleveland Plain Dealer
Federal Home Loan Bank Board
Summer slump drags markets as stocks retreat again
The New York stock market slipped for the second straight session amid a quiet trading day. The Dow fell 8.64 to 1,184.25 while aerospace and auto shares led declines and volume rose on the NYSE.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Aerospace Group
Lockheed
Northrop
Grumman
United Technologies
Kmart
Woolworth
Federated Department Stores
Associated Dry Goods
MCI Communications
Federal Communications Commission
MCI
American Telephone & Telegraph
At&t
DuPont
Wall Street Journal
Cincinnati Milacron
Merrill Lynch
Cincinnati
Milacron
Building starts off 10 percent decline in July
The value of newly started construction dropped 10 percent in July to 17 billion dollars, ending a two month surge. The F W Dodge index fell to 137 from 151, with residential down 15 percent and non residential, public works slipping 7 and 8 percent respectively.
MENTIONED IN THIS ARTICLE
New York
F.W. Dodge Division
McGraw-Hill Information Systems
George A. Christie
F.W. Dodge
Automatic dividend reinvestment gains shareholding appeal
A rising number of firms offer dividend reinvestment plans letting stockholders automatically buy more shares with dividends. Moody's reports 531 firms offering plans, up 43 percent from 1977, while Georgeson & Co. notes 1,300 programs serving about 6 million accounts. Plans reduce costs for issuers and are attractive to long term investors.
MENTIONED IN THIS ARTICLE
Skip Wollenberg
Associated Press
New York
Moody's Investors Service Inc
Georgeson & Co. Inc
Robert Swadesh
Swadesh
IPS May Need Second Letter On Rate Increase Filing
Iowa Public Service faces a challenge to its proposed 19.9 million electric rate boost. The Consumer Advocate Office says IPS must warn customers about a final rate increase rather than interim changes and notes a proposed average residential charge rise of about 13.7 percent with an Oct. 1 collection date. A motion seeks to reject the filing.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa Public Service
Consumer Advocate Office
IPS
Sioux City
James Maret
Government sale of Chrysler stock purchase options planned
Washington officials say bids will be taken soon for government held warrants to buy 14.4 million Chrysler Corp. shares. Warrants arose from a loan guarantee program and will go to the highest bidder with limits. Buyers must resell in smaller batches unless Chrysler buys. No single buyer may acquire more than 10 percent on resale.
MENTIONED IN THIS ARTICLE
Washington
Chrysler Corp
Treasury
Chrysler
New car sales rise 22 percent in mid August
U S automakers report a 22.4 percent jump in mid August sales from a year earlier with 161 104 cars sold from Aug 11 20, as inventories stay constrained. GM Ford Chrysler AMC and VW show varied gains and declines amid record shortages and outlook for year end.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Volkswagen of America Inc
John Hammond
Data Resources Inc
Lexington
Mass
Hammond
General Motors Corp
Ford Motor Co
Chrysler Corp
American Motors Corp
American Honda Manufacturing Co. Inc
Ford
Chrysler
AMC
Honda
Nissan raises 1984 truck prices and shifts models
Nissan U S A announces a 1.4 percent average price increase on 1984 model trucks with the regular-bed base price dropping to 5995 while other models rise. Deluxe base climbs to 7195 and standard equipment increases apply. 1984 Maxima cars ship with about 5 percent higher prices, including 111,399 for the four door and 12,700 for the wagon.
MENTIONED IN THIS ARTICLE
Detroit
Nissan U
Bob Thomas
Nissan
RV sales jump 40 percent in first half of year
Recreation Vehicle Industry Association reports 189,700 RVs shipped through June, up 39.7 percent from the same period in 1982. President David J. Humphreys predicts 1983 could top the 1978 peak, with 526,300 vehicles sold that year if trends continue.
MENTIONED IN THIS ARTICLE
Detroit
United States
Recreation Vehicle Industry Association
Association
Chantilly
David J. Humphreys
Also Mentioned on This Page
Freddie Mac Lauches
Congress
Freddie Mace
Renault
Cedar Rapids
Center Point Road
Barron’s
Exchange
Standard & Poor
S&p
Consumer Advocate
Commission
Helein, Inc
Hartford
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