Mortgage and Financial News From 2008-7-11 Page 6
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When mortgages go bad - Los Angeles Times
The precipitous decline in the housing market handed Countrywide Financial to Bank of America on a platter, allowing the latter to buy more than $200 billion worth of Countrywide assets for $2.5 billion in stock. Still, skeptical investors have ...
2008-07-11 11:21:00 -
Wachovia, MGIC, AIG Fall on Fannie, Freddie Concerns (Update2) - Bloomberg
July 11 (Bloomberg) -- Wachovia Corp., Washington Mutual Inc. and MGIC Investment Corp. led banks and mortgage insurers lower on concern the government may be forced to rescue Fannie Mae and Freddie Mac. Wachovia, the fourth-largest U.S. lender ...
2008-07-11 01:37:00 -
Fannie, Freddie, Folly - Slate
California is to mortgage lending what Chicago is to pork bellies. For years, that meant it was a place with soaring house values; today, the foreclosure rate across the state is twice the national average and going up fast. Riverside County, outside ...
2008-07-11 03:03:00 -
Credit crunch could yet claim victims among big banks - Financial Times
At the end of Wall Street’s first quarter, two theories held considerable sway. The first was that the credit crunch was waning. The second was that the bulk of the pain was shifting from investment banks that were thought to have taken the worst ...
2008-07-11 12:19:00 -
Credit crisis roars FTSE 100 into a bear market - Daily Telegraph
Millions of families saw a significant fall in the value of their savings, pensions and other investments on Friday after the stock market suffered a torrid day and finished more than 20 per cent down on its peak last year. The FTSE closes 22 per ...
2008-07-11 01:37:00 -
FOREX-Dollar falls as credit woes cut Fed rate hike chances - Forbes
NEW YORK (Reuters) - The dollar fell broadly Friday as persistent worries about the stability of two U.S. mortgage finance giants were seen constraining the Federal Reserve's ability to raise interest rates this year. The greenback briefly got some ...
2008-07-11 01:45:00 -
6 Things You Need to Know About Fannie and Freddie (US News & World Report)
Could Uncle Sam take over the mortgage finance giants?
2008-07-11 01:07:56 -
FOREX-Dollar falls as credit woes cut Fed rate hike chances (Reuters via Yahoo! Singapore News)
* Dollar falls as credit fears further darken market mood
2008-07-11 01:38:32 -
'Middle class' millionaires facing foreclosure (San Francisco Business Times)
So-called middle class millionaires, those with $1 million to $10 million, say they expect to lose real estate to foreclosure in the year ahead, according to a recent survey conducted by Lewis Schiff, a co-author of The Middle Class Millionaire.
2008-07-11 02:44:02 -
Financial stocks set to lower S&P 500 earnings 13.5 percent during 2nd-qtr (Canadian Business)
Joe Bel Bruno July 11, 2008 - 5:05 p.m. NEW YORK (AP) - Investors already disheartened about the growing problems of the financial sector and the soaring price of oil are facing more depressing news with the release of second-quarter earnings reports.
2008-07-11 02:44:10 -
Treasurys fall on worries about Fannie, Freddie (San Francisco Chronicle)
Treasury bond prices slid sharply Friday on speculation that a massive government bailout of Fannie Mae and Freddie Mac could hurt the nation's triple-A credit rating. Concerns have been mounting this week that the two government-sponsored lenders need an...
2008-07-11 03:19:43 -
Peter G. Miller: Lenders unlikely to agree to cutting price more (San Antonio Express-News & KENS 5)
Q: Almost two months ago, I made a $260,000 offer on a short sale situation in Arizona. The first mortgage is for $400,000 and the second is for $100,000.
2008-07-11 03:23:00 -
Loan-Agency Woes Swell From a Trickle to a Torrent (NYTimes.com via Yahoo! Finance)
The rapid erosion of investors’ confidence has become a crisis for Fannie Mae and Freddie Mac, the two main backers of mortgage financing.
2008-07-11 03:36:53 -
The First American Corporation to Hold Second Quarter 2008 Conference ... - Forbes
The First American Corporation (NYSE: FAF), America's largest provider of business information, announced today that it will host a conference call on July 31, 2008, at 11 a.m. EDT. The call will follow the announcement of the company's second ...
2008-07-11 04:05:00 -
Dow deal helps stocks rise - Detroit News
NEW YORK -- Stocks fluctuated late Thursday as a multibillion dollar deal between Dow Chemical Co. and rival Rohm and Haas Co. partially offset concerns over the health of the financial sector and the rising price of oil. The Dow Jones industrial ...
2008-07-11 01:30:00