Mortgage and Financial News From 2008-5-15 Page 01
Previous Day: 2008-05-14
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Metro Funding Corp. Aids Victims in New Orleans - PR Newswire
PARAMUS, N.J., May 14 /PRNewswire/ -- Metro Funding Corp. (MFC), a private asset-based commercial real estate lender was approached recently for a cash-out refinance loan from a borrower seeking additional working capital for her latest business ...
2008-05-14 06:54:00 -
New Jumbos Slow To Take Off; Can Better Rates Help Them Fly? (Investor's Business Daily via Yahoo! Finance)
Real estate in high-priced areas is finally becoming a little easier to buy or refinance, thanks to the jumbo conforming loan program approved by...
2008-05-15 02:51:41 -
Realty Q&A: Seller financing may move home more quickly, but beware (Market Watch)
I have a house with no mortgage. With the market the way it is, to sell it fast is it good for me to hold a mortgage? This way I could get someone to buy the house with no money down. I will only hold it for five years. Would this work for me?
2008-05-15 04:53:40 -
Realtors pushhousing bill (The Palm Beach Post)
Realtors came to Capitol Hill this week to urge passage of housing legislation, and they hardly could have timed it better.
2008-05-15 05:57:00 -
Moody's to reassess bond insurer FSA's exposures - Reuters
NEW YORK, May 14 (Reuters) - Moody's Investors Service on Wednesday said it will reassess the mortgage exposure of top rated bond insurer Financial Security Assurance in light of its worse-than-expected losses from mortgage bonds. If the review ...
2008-05-14 02:18:00 -
House sales fall as mortgage lending hits 33-year low - Belfast Telegraph
Britain's increasingly beleaguered housing market was hit by yet more bad news yesterday as mortgage providers said lending to home buyers had slumped to a 33-year low and one of the country's biggest builders warned of falling sales. The Council of ...
2008-05-14 03:05:00 -
Barclays Profit Falls After $3.3 Billion Writedown (Update4) - Bloomberg
May 15 (Bloomberg) -- Barclays Plc , the U.K.'s third-biggest bank, reported a drop in first-quarter earnings because of 1.7 billion pounds ($3.3 billion) of writedowns and said further losses from the credit markets are possible. Barclays fell 2 ...
2008-05-15 03:14:00 -
House-passed mortgage bill would put taxpayers on the hook - Kansas City Star
The housing bill passed recently by the U.S. House has a few good points. The program it creates would be voluntary. It would tighten regulation of the mortgage giants, Fannie Mae and Freddie Mac — something Congress has resisted for far too long ...
2008-05-12 05:55:00 -
Families hit as bank fees soar - News.com.au
The windfall comes from fees and charges including a 170 per cent increase in credit card fee income over the past five years. While struggling families drowned in personal debt, banks cashed in $10.5 billion worth of profits from the fees and ...
2008-05-15 05:37:00 -
Credit Agricole to Sell Assets, Says Litzler Resigns (Update3) - Bloomberg
May 15 (Bloomberg) -- Credit Agricole SA , France's third- largest bank by market value, changed the head of its investment bank and plans to sell 5 billion euros ($7.8 billion) of assets after losses tied to the U.S. subprime mortgage market ...
2008-05-15 07:07:00 -
Raising Capital Getting Harder For Banks (Investor's Business Daily via Yahoo! Finance)
Banks have raised $260 billion or so worldwide to offset subprime-mortgage related losses -- easing the credit crisis -- but must tap even more money to get back to business as usual.
2008-05-15 03:50:23 -
Downbeat outlook sends shiver to insurers (Financial Times)
Legal & General ’s gloomy comments about the outlook for the UK life and savings market sent a shiver through the insurance industry on Wednesday.
2008-05-15 04:24:14 -
Fed urged to control future asset bubbles (Financial Times)
The Federal Reserve should use regulatory powers aggressively and pro-actively to limit the threat from future asset price bubbles, Frederic Mishkin, one of the Fed’s governors, said on Thursday.
2008-05-15 04:29:09 -
Investec anticipates 12.5pc slump in UK house prices (Daily Telegraph)
Investec, the South African bank that last year bought Britain's sub-prime mortgage specialist Kensington Group, has warned that UK house prices will fall 12.5pc over the next two years.
2008-05-15 05:13:58 -
The stock of banks is low and it is easy to understand why (Daily Telegraph)
THE conventional wisdom in financial markets is that the time to move back into bank stocks is just after a slew of rights issues has depressed prices. In the past week, Royal Bank of Scotland, HBOS and Barclays have all fallen by around 10pc, and most of the banks in obvious need of capital due to credit losses have either announced or completed rights issues.
2008-05-15 05:16:42