Mortgage and Financial News From 2008-3-13 Page 01

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  • Home sales, prices continue slide

    San Francisco Gate - ... slowing for about two years, but the downturn hit full stride last summer as escalating defaults tied to subprime mortgages ... It's the second lowest regional sales total in the two decades the La Jolla (San Diego County) research firm has tracked ...
    2008-03-12 05:55:00

  • Morgan Stanley exec tainted by trade losses quits

    Reuters - ... Wall Street over more than two decades and a significant money maker for the world's second-largest investment bank. Based on that success, Shear was promoted by Cruz in 2005 to become head of all fixed-income trading, which includes bonds, mortgages ...
    2008-03-11 02:43:00

  • Foreclosure vultures get wings clipped by House panel

    Charlotte Sun-Herald - Another group of potential targets are homeowners who are in default on their mortgages but not so far in arrears that the ... The bill also raises mortgage fraud to a second-degree felony. "My guess is the bad actors in this business are the bad ...
    2008-03-13 09:08:00

  • All doom & gloom from here

    News.com.au - People with mortgages are the least upbeat, but rising food and fuel costs are also making their impact felt. ... However, he said inflation will remain uncomfortably high, keeping interest rates around these levels until the second half ...
    2008-03-11 06:25:00

  • Fed Hopes to Ease Strain on Economic Activity

    New York Times - WASHINGTON — Impelled to take extraordinary measures for the second time in less than a week, the Federal Reserve moved ... warned that the new infusion of money might not be enough to fill the hole caused by the losses on ill-conceived mortgages ...
    2008-03-12 04:41:00

  • Auckland Airport Shareholders Endorse Canada's Offer (Update2)

    Bloomberg - It is the airport's second suitor in the past year, after Dubai Aerospace Enterprise withdrew its bid for a majority stake ... Global equity markets have slid since August as rising defaults in U.S. subprime mortgages crimped the amount of credit ...
    2008-03-13 05:18:00

  • High gold prices give old jewelry new luster

    Miami Herald - With people buckling under high gas prices, sinking stock portfolios and mortgages they can't pay, the opportunity to sell ... At Barclays Jewelers, in downtown's Seybold Building (billed as the second largest jewelry building in the country), Noel ...
    2008-03-13 09:29:00

  • Economy hit on multiple fronts

    Boston Globe - That was the second such drop in the past three months, a pattern consistent with the onset of a recession. ... Poor's predicted that financial companies are nearing the end of the massive write-downs in the value of subprime mortgages ...
    2008-03-13 09:08:00

  • Freddie not planning another stock sale

    CNN Money - Buddy Piszel, chief financial officer of the nation's second-largest U.S. buyer and guarantor of home mortgages, told shareholders and analysts at a conference that "there is no dilutive capital raising planned.
    2008-03-12 11:07:00

  • Freddie Mac in market soon for new CEO - CEO Syron

    Reuters - NEW YORK, March 12 (Reuters) - Freddie Mac (FRE.N: Quote , Profile , Research ), the second-biggest provider of funding for U.S. home mortgages, is nearly ready to search for a new chief executive officer and split the roles of CEO and chairman ...
    2008-03-12 09:56:00

  • Bush to Urge `Confidence' in Economy, Not New Stimulus Package

    Bloomberg - A surge in defaults on mortgages to higher-risk borrowers spurred the collapse of the U.S. home loan market. ... Checks are scheduled to arrive in mailboxes beginning the second week of May.
    2008-03-13 09:36:00

  • Rubenstein Sees No Wall Street `Animus' Over Bond-Fund Collapse

    Bloomberg - The blowup comes after LBOs ground to a halt because investors, hurt by losses on subprime mortgages , backed away from debt used to finance deals. Announced LBOs dropped by two-thirds to $204 billion in the second half of 2007 from the first six ...
    2008-03-13 09:43:00

  • Florida worst state for mortgage fraud, again

    MSNBC - The competition to be first in fraud is getting stiffer as the housing downturn persists and agencies nationwide report more suspect mortgages, according to industry data released Thursday. Nevada ranked second in mortgage fraud, up from No. 6 a year ...
    2008-03-13 05:11:00

  • A 1930s Loan Rescue Lesson

    Washington Post - The 1920s featured many interest-only loans, balloon payments, frequent second mortgages, the assumption of rising house prices and trust in the easy availability of the next refinancing.
    2008-03-13 09:08:00

  • Mortgage rates climb to 6.13%

    Boston Globe - Rates on 30-year mortgages dropped below 6 percent in the second week of January and stayed there for six weeks as the economic slowdown stirred concerns about a possible recession.
    2008-03-13 09:08:00

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