'Liar loans' threaten to prolong mortgage crisis (AP via Yahoo! Singapore News) In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets.read more...
Motorola N. America Sales Strong As Nokia Struggles Largest Private Cos. People World's Richest People 100 Top Celebrities 400 Richest Americans Best Paid CEOs Places Best Places Personal Finance Estate Planning Funds Philanthropy Retirement Strategies Taxes ...read more...
CFieldstone Mortgage Unit Files Ch 11 (AP via Yahoo! Finance) A housing lender acquired nine months ago by Credit-Based Asset Servicing and Securitization LLC has sought bankruptcy protection, highlighting the growing toll of the subprime-mortgage crisis.read more...
Mortgage applications up slightly last week, MBA data show (Market Watch) Last week's volume of mortgage applications shows slight improvement, increasing a seasonally adjusted 2.8% compared with the week before, Mortgage Bankers Association data show.
Overruns under fire The Middletown High School building project has been under a watchful eye of many - residents, community groups and officials - for the past few years as the dream appeared
GMAC-RFC Sells A$302.8 Million Mortgage-Backed Debt (Update1) (Bloomberg.com) May 23 (Bloomberg) -- GMAC-RFC Australia Ltd. , a unit of U.S. auto and home-loan lender GMAC LLC , raised A$302.8 million ($290 million) by selling non-conforming residential mortgage-backed bonds.read
Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.
The Commerce Department reported Friday that new-home sales tumbled by 9 percent in November from October to a seasonally adjusted annual rate of 647,000. That was the worst showing since April 1995, when the pace of sales was 621,000.
The sales pace for November was much weaker than economists were expecting. They were predicting sales in the weakest sector of the economy to drop by around 1.8 percent, to a pace of 715,000. Read more
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