Mortgage and Financial News From 2008-11-4 Page 01
Previous Day: 2008-11-03
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Mortgage approvals ... bmi deal: Tempus at lunchtime - Times Online
It's nice to see mortgage figures rising rather than falling for a change, but economists are adamant that today's slight lift in mortgage approvals for new house purchases is not an indication of recovery in the market. Some 33,000 home loans were ...
2008-10-29 09:09:00 -
Simple California law cuts foreclosures 50% in Los Angeles - Bloggingstocks.com
How cutthroat have mortgage lenders been? I'd say on the pirates-and-vikings level, if data from Los Angeles this month is any indication. After a new law went into effect in early July requiring lenders to contact homeowners and attempt to avoid ...
2008-11-04 02:43:00 -
Sweden approves $200 billion bailout plan - MSNBC
STOCKHOLM, Sweden - Sweden’s Parliament has approved a 1.5 trillion kronor ($200 billion) rescue package for the nation’s financial sector. The measure allows the government to give the money in credit guarantees to banks and mortgage lenders to ...
2008-10-29 06:39:00 -
Wall Street's extreme sport: Financial engineering - International Herald Tribune
Today's economic turmoil, it seems, is an implicit indictment of the arcane field of financial engineering — a blend of mathematics, statistics and computing. Its practitioners devised not only the exotic, mortgage-backed securities that proved so ...
2008-11-04 10:35:00 -
Slow Mortgage Start - Wall Street Journal
The federal government's latest effort to help financially distressed homeowners is getting off to a slow start. Lenders filed just 42 applications to refinance troubled mortgages under the federal Hope for Homeowners program in the two weeks after ...
2008-11-04 11:18:00 -
Homeowners rights bill failing to gain support (The Business Journal of Phoenix)
Proposition 201, dubbed the “homeowners bill of rights” is failing to win support from Arizona voters.
2008-11-04 10:58:45 -
Ventas Reports $0.69 Per Diluted Share Third Quarter Normalized FFO (wallstreet:online AG)
Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") said today that third quarter
2008-11-04 11:03:11 -
Financial Engineering, Wall Street?s Extreme Sport (New York Times)
The models of risk modeling used on Wall Street failed to keep pace with the growth in complex securities, experts say.
2008-11-04 11:06:28 -
Bank Pressured For Big Rate Cut (Ananova)
Bank of England rate-setters meet today under pressure to deliver the biggest cut in interest rates for more than 15 years.
2008-11-04 11:39:17 -
(AFX UK Focus) 2008-11-05 05:19 How U.S. stock sectors could fare in an Obama administration (Interactive Investor)
NEW YORK, Nov 4 (Reuters) - Barack Obama swept to the White House on Tuesday, leading a Democratic electoral land slide that expanded the party's majorities in both chambers of Congress. That puts the focus on how key market sectors, including alternative energy, healthcare, defense and finance will fare under his policies. Below is a snapshot of analysts' views on what could influence sectors ...
2008-11-04 11:50:40 -
'Underwater' Need Not Mean Foreclosure - Wall Street Journal
What does being "underwater" in your house really mean? Probably not that you're drowning. The number of underwater homeowners -- those who owe more on their mortgages than their home is now worth -- has been growing sharply since 2006 as real-estate ...
2008-11-04 05:56:00 -
GM's Sales Further Compromised By Tightening At GMAC - CNN Money
DETROIT -(Dow Jones)- Troubles at GMAC Financial Services have put General Motors Corp. (GM), which relies heavily on the lender to sell vehicles, at a disadvantage as the auto maker battles sinking sales. GM, which on Monday announced a whopping 45 ...
2008-11-04 03:47:00 -
Wells Fargo to lay off Fort Mill workers - WCNC
FORT MILL, S.C. -- Wells Fargo & Co. will lay off workers at its mortgage center in Fort Mill, the bank confirmed to the Charlotte Observer on Tuesday. The mortgage servicing center has about 1,600 employees. San Francisco-based Wells Fargo, which ...
2008-11-04 03:47:00 -
I Vote No Confidence in Congress - Wall Street Journal
It's the day after a historic election and I can't help but worry. I'm one of those people who are pessimistic about the near- and medium-term prospects for our financial markets and our economy. I'm not pessimistic about our country or our ...
2008-11-04 07:29:00 -
Blame high oil prices for recession, CIBC says - Globe and Mail
OTTAWA — Forget blaming the global recession on dubious mortgage practices in the United States - blame high oil instead, says Jeff Rubin, chief economist at CIBC World Markets. “The recent spike in oil prices doesn't seem to get any credit for ...
2008-11-03 01:47:00