Bank cash plan 'not mortgage aid' (BBC News) A £50bn loan plan for UK banks was not designed to "kick-start" the mortgage market, the Bank of England head says.read more...
Fink ready to write a new chapter for BlackRock (FT.com via Yahoo! News) In Liar's Poker, author Michael Lewis chronicled the dramatic rise and fall of the mortgage-backed bond desk at Salomon Brothers during the bull market of the 1980s. Many of
Fat-cat housing dilemma (Reg Req'd) SANTA ROSA, Calif. Just beyond the Safeway parking lot, my early morning walk takes me into an older housing development.via
Mortgage rates skyrocket (Bankrate.com via Yahoo! Finance) Mortgage rates skyrocketed this week as Wall Street tried to discern the ever-shifting contours of the bailout.read more...
Owner of home building biz in it for the long haul (Reg Req'd) Without so much as lifting a hammer, Justin Wood builds about 20 houses at a time.read more...
Decor 2 Ur Door... And Your Dorm "It literally reminded me of a cinderblock tomb" Decor 2 Ur Door... And Your Dorm Wellington mom and interior designer Robin McDonald was horrified when viewing her oldest daughter
“I do think it’s important to observe what happens going forward”
Countrywide Financial Corp. said Tuesday its second-quarter profit shrank by nearly a third as softening home prices led to rising delinquencies and mortgage defaults among the most creditworthy borrowers.
The huge mortgage lender was forced to take impairment charges as it braced for the possibility of more people failing to make their mortgage payments.
Countrywide also said the market will become increasingly challenging as loan production subsides while lenders compete with one another more fiercely. Read more
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