New York Mortgage Trust downgraded to market perform (New Ratings) NEW YORK, September 20 (newratings.com) - Analysts at Friedman Billings downgrade New York Mortgage Trust Inc ( NKZ.BER ) from "outperform" to "market perform." The target price is set to
Asia Day Ahead: Fed to Take on Mortgage-Backed Debt (Update1) (Bloomberg.com) March 12 (Bloomberg) -- U.S. stocks rallied the most in five years after the Federal Reserve said it will pump $200 billion into the financial system to shore up banks
Economy Expanded 2.6 Percent in the Second Quarter, Weaker Than Estimated The U.S. economy grew at an annual rate of 2.6 percent in the second quarter, less than previously estimated, as business spending, consumer demand and homebuilding slowed.Commentread more...
Mortgage Company Pulls Out Of Promised Loans (WCVB TheBostonChannel.com via Yahoo! News) Hundreds of homebuyers in Massachusetts learned that their mortgage company is backing out on the deal during the final stages of the home-buying process.read more...
County's boom times catalyst for e-recording Keeping track of land transactions is nothing new to the county. Records at the County Clerk's Office show deeds have been recorded in Monmouth since the county was established in
New York Mortgage Trust Reports First Quarter 2007 Results (PR Newswire via Yahoo! Finance) New York Mortgage Trust, Inc. , a self-advised real estate investment trust engaged in the investment in and management of high credit quality residential adjustable rate mortgage loans and
“The problem is some of these mortgages were just phenomenally bad”
Could the housing market’s woes spread to bonds held in mutual funds by millions of ordinary investors?
Some experts and hedge fund investors who have made big bets that the mortgage crisis will worsen are saying that’s exactly what will happen. Some bond funds that invest in riskier short-term debt already have been whacked by soaring default rates on bonds backed by subprime loans made to borrowers with weak credit.
Critics charge that Standard & Poor’s, Moody’s Investors Service and Fitch Ratings routinely give triple-A ratings the safest rating there is to far too many mortgage-backed bonds backed by subprime home loans. Read more
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