Mortgage and Financial News From 2008-9-10 Page 3
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Gold, Silver Fall as Mortgage-Lender Rescue Spurs Dollar Gain - Bloomberg
Sept. 8 (Bloomberg) -- Gold fell, erasing earlier gains, as the U.S. government seizure of mortgage lenders Fannie Mae and Freddie Mac boosted the value of the dollar, reducing the appeal of the precious metal as an alternative asset. Silver declined ...
2008-09-08 11:59:00 -
Moody's cuts ResCap's debt rating closer to default - Reuters
NEW YORK, Sept 10 (Reuters) - Moody's Investors Service on Wednesday cut its ratings on Residential Capital LLC closer to default, citing consistent losses, weak liquidity and an impaired business franchise. ResCap, one of the hardest-hit U.S ...
2008-09-10 12:18:00 -
Forward-Looking Pending Homes Sales Index Sees Lackluster Performance (BuildingOnline)
The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors®.
2008-09-10 05:43:04 -
Mortgage brokers, real estate agents say interest rate drop is spurring activity (San Jose Mercury News)
This week's fast decline in mortgage interest rates has created a surge of activity at Silicon Valley mortgage companies, as homeowners ponder refinancing and buyers decide whether to lock in a loan rate.
2008-09-10 06:02:14 -
Television - Business (Scoop.co.nz)
In a surprise move, Reserve Bank Governor Alan Bollard has cut official interest rates by half a percentage point, taking them to 7.5 percent from 8 percent.
2008-09-10 06:03:17 -
Realtor Group Produces Video Explaining Why Fannie Mae and Freddie Mac Matter to You (BuildingOnline)
LOS ANGELES, CA -- The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has released "Fannie and Freddie: Why They Matter to You," a new video featuring C.A.R. Executive Vice President Joel Singer.
2008-09-10 06:13:24 -
Television - Business (Scoop.co.nz)
An update of the markets with Andrew Kelleher of ASB Securities.
2008-09-10 06:18:27 -
'Hostile' Lending Environment Weighs on Investors (The New York Sun)
The skies are ominous for real estate investors, especially those seeking financing. Take the failure last week of Silver State Bank of Henderson, Nev., which had about $2 billion in total assets. The bank's collapse — the 11th such failure so far this year — follows an announcement last month by the Federal Deposit Insurance Corp. that the number of banks on its "problem list" rose 30% during ...
2008-09-10 07:22:07 -
Lawyer, broker battle fraud accusations (Gloucester Daily Times)
Disbarred Gloucester lawyer Jon Conant is back before a judge this week and mdash; along with local real estate broker Angelo Zakas and mdash; as a Gloucester woman seeks to recover nearly $600,000 she invested in a fictitious marble mining operation in Vermont.
2008-09-10 07:52:12 -
Fed takeover a boon to mortgage rates - Lexington Herald-Leader
Sunday's federal takeover of mortgage lenders Fannie Mae and Freddie Mac has caused mortgage rates to fall to the lowest levels since May and sparked a surge in loan refinancings. Rumors of the pending takeover caused the average national interest ...
2008-09-10 01:51:00 -
Stocks end moderately higher as Street mulls Lehman plan; energy ... - Chicago Tribune
NEW YORK (AP) _ Stocks ended a temperamental session moderately higher Wednesday as investors bought up the stocks of energy, materials and consumer-staple companies, but remained cautious about the beleaguered financial sector. Bank and brokerage ...
2008-09-10 12:18:00 -
More NY grants aimed at subprime mortgage crisis - Forbes
New York Gov. David Paterson says almost $4.2 million in state grants have been awarded to nonprofit agencies to help address the subprime mortgage crisis. The money for home ownership assistance and foreclosure counseling, advocacy and legal ...
2008-09-10 01:30:00 -
U.S. Should `Level Playing Field' With Fannie Fees, Lender Says - Bloomberg
Sept. 10 (Bloomberg) -- Fannie Mae and Freddie Mac , the mortgage-finance companies taken over by the U.S. government, should stop charging different fees to guarantee loans from different lenders, the largest independent mortgage firm said. ``We're ...
2008-09-10 02:48:00 -
Advertisement starts (Tiscali)
million people live below the poverty line, while 30 percent of children are categorised as poor, Get Fair said.
2008-09-10 06:16:35 -
Television - Business (Scoop.co.nz)
An update of the markets with Andrew Kelleher of ASB Securities.
2008-09-10 06:18:27