June mortgage approvals rise (Reuters.co.uk) LONDON (Reuters) - Mortgage approvals rose to their highest level in five months in June although growth in credit card lending slowed sharply to its weakest pace in nearly 12
Break-ups increase mortgage stress (Central Midlands & Costal Advocate) NEW research linking divorce with mortgage stress and the home affordability crisis comes as consumer advocates warn of loan sharks targeting divorcees.read more...
In Real Estate Fever, More Signs of Sickness Matt Marshman watched it happen in one Germantown neighborhood in February. Each house that went up for sale cost about $15,000 more than the last. And the houses were
WHY THE MARKET'S GOING NUTS / PANIC SPREADS: Mortgage problems infect Wall Street and stocks around the world (San Francisco Chronicle) The great mortgage crisis of the summer of 2007 has slopped over into nearly every nook and cranny of the financial markets, laying low stocks that until a month ago
San Antonio Attorney Allan B. Polunsky Honored With Mortgage Banking Industry Award (PR Newswire via Yahoo! Finance) San Antonio attorney Allan B. Polunsky has earned the Distinguished Service Award from the Texas Mortgage Bankers Association for his outstanding work and commitment to the mortgage banking industry.read
Is the down payment too big? That mostly depends on how conservative an investor you are, says Dr. Don.read more...
“The result is a larger write-down of these assets than initially anticipated.”
Merrill Lynch & Co., the world’s biggest brokerage, on Wednesday said the summer’s credit crisis triggered a bigger-than-expected $7.9 billion writedown during the third quarter.
Bad bets on mortgage securities and leveraged loans used for corporate takeovers caused it to post its first loss in six years. The blow makes Merrill Lynch the hardest-hit investment bank on Wall Street amid the recent market turmoil.
Merrill Lynch reported a loss after paying preferred dividends of $2.31 billion, or $2.82 per share, compared to a profit of $3 billion, or $3.50 per share, a year earlier. Revenue, after factoring in some of its losses, fell 94 percent to $577 million from $9.83 billion a year earlier. Read more
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