Bimini Mortgage Stock Down on Dividend Cut (AP via Yahoo! Finance) Shares of Bimini Mortgage Management Inc. fell sharply Wednesday after the company announced its dividend would be significantly lower than a year ago.read more...
US new home sales surge 6.5 percent in July to record Sales of new US homes jumped 6.5 percent in July to a record seasonally adjusted annual pace of 1.41 million, the Commerce Department The report defied predictions of a cooling
Real Estate May Be Peaking. Or Not. FUND investors who bet on real estate five years ago have been sitting pretty. The category has returned 18.8 percent a year, on average, over the five years through September,
Phone Companies and the Credit Bureaus But first you need to know about Johnny Fever and the Phone Police . I've seen a few comments on the big blogs this week referring to the classic "Run,
Interest Rate Roundup Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts.read more...
Still More Housing Bull "They're not making any more land!" The old saw suggests that we can tell if a lawyer is lying by watching to see if his lips are moving. via
“What they can’t enforce through regulation, they will try to accomplish through suing”
Regulators are trying to punish Wall Street for mortgage finance practices that expanded home ownership and spread risk among a host of new players but also may have duped borrowers and investors who supplied cash to fuel a housing boom that’s turned bust.
A handful of state securities regulators and a couple foreclosure-blighted cities have fired the opening shots with lawsuits trying to prove that investment banks and big lenders are guilty of more than just bad business decisions and failing to foresee looming mortgage troubles. Some regulators say greed and fraud underlie much of the subprime mortgage mess that has spread across the broader housing market, triggering a spike in foreclosures.
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