Mortgages and Loans help
“We don’t see this market turning around anytime soon”
NEW YORK : The worse the news got, the better the stocks performed. Early in the week, investors seemed to believe that the Federal Reserve, with its unprecedented slashing of interest rates, could revive the … via International Herald Tribune
“We see this continuing in 2008. With business the way it is, this is the way we adapt. We have clear priorities to invest in our stores.”
Home Depot Inc., the largest U.S. home improvement retailer, said it’s cutting 500 of its headquarters staff, or 10%, to lower costs and weather a slowing housing market that has hurt its sales. via MarketWatch
A 21-year-old monkey is stealing the spotlight at the Fort Worth Stock Show and Rodeo. via WRC Washington DC Channel 4
“The effect of these reserving and impairment activities on our capital position will be more than offset by the successful completion of our capital plan, which will increase our capital position by well over $2 billion”
MBIA Inc. reported write-downs of $3.5 billion on souring credit derivatives in the fourth quarter Thursday, raising the possibility that the world’s largest bond insurer could lose its top credit rating.
Continued weakness in the bond insurance market may put struggling banks in a precarious position. Banks, which have reduced portfolio values by more $140 billion during the second half of 2007 in a deteriorating mortgage market, might be forced to take further write-downs tied to bonds insured by companies like MBIA. Read more
“The prices for lesser-grade borrowers has widened rather significantly”
As bad news about the financial system piles up, trust the pillar of investing is being buried.
The most recent fears are tied to the potential failure of bond insurers, the companies that back the funding for hospitals, schools and other public works. A meltdown there could deliver another devastating blow to battered banks and force higher taxes on homeowners.
That has made it difficult for the Federal Reserve even with its aggressive rate cuts recently to restore confidence and quash the volatility and uncertainty. Read more
Mortgage brokers who haven’t fled the industry or been forced out are in survival mode. They’re coping with little or no business as the economy slows, accusations that they’re to blame for the mortgage meltdown, stricter lending standards and the threat of new regulations.
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Housing slump has thousands leaving the field Mortgage brokers who haven’t fled the industry or been forced out are in survival mode.
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HONOLULU —FBI Director Robert Mueller said Thursday that the agency is committed to investigating and prosecuting companies involved in mortgage fraud and other violations in connection with home loans made to risky borrowers.
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FBI Director Robert Mueller said Thursday that the agency is committed to investigating and prosecuting companies involved in mortgage fraud and other violations in connection with home loans made to risky borrowers.
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Mortgage brokers who haven’t fled the industry or been forced out are in survival mode. They’re coping with little or no business as the economy slows, accusations that they’re to blame for the mortgage meltdown, stricter lending standards and the threat of new regulations. “The general consensus is we’re all holding on by our fingernails,” says Melbourne, Fla.-based mortgage broker Ritch …
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