HOUSTON MORTGAGE MONITOR (Houston Chronicle) INDIVIDUAL LENDER RATES The mortgage interest rate list represents a sampling of rates as quoted by lenders in the Houston market on Friday. Rates, which may change on
Trio plead guilty in mortgage fraud scheme (Greensboro News-Record) GREENSBORO -- Two High Point businessmen and a Greensboro real estate lawyer have pleaded guilty in connection with a mortgage fraud scheme involving more than 20 properties.read more...
How to Find the Right Contractor or Home Improvement Professional for the Job Now that temperatures are warming up, people are once again thinking about home improvement projects they need to get done outside.read more...
Mortgage lending hits three-year low, says CML (Guardian Unlimited) Amount lent to borrowers has dropped 36% over the past 12 months, says Council of Mortgage Lendersread more...
New mortgage finance, real estate firm lies in wait for an upturn (North Bay Business Journal) SANTA ROSA ? Simpac Financial ? a 6-month-old mortgage and real estate brokerage and property management company ? is quietly expanding, taking over another office on Santa Rosa's Old Courthouse
Mortgage meltdown strikes at Morgan Stanley (USA Today) In a sign Wall Street's troubles are far from over, Morgan Stanley announced a $3.6 billion fourth-quarter loss, driven largely by a $9.4 billion write-down of mortgage-related investments.read more...
“That drove a panic in the marketplace, and customers who had no reason to be concerned got concerned and moved their money away”
E-Trade Financial Corp. posted a hefty loss for the fourth quarter on Thursday as the struggling discount brokerage dumped a book of risky investments at a steep discount.
In an illustration of how the mortgage industry crisis has spread to other types of companies, the New York-based brokerage in November said it sold a $3 billion portfolio of mortgage debt to Citadel Investment Group at a $2.2 billion loss.
Hampered by that sale, E-Trade lost $1.71 billion, or $3.98 per share, in the fourth quarter, after a profit of $176.7 million, or 40 cents per share, in the fourth quarter of 2006. Analysts surveyed by Thomson Financial forecast a smaller loss of $2.90 per share. Read more
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