Mortgage and Financial News From 2008-7-11 Page 7
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Fannie and Freddie worries, record oil slam Wall St - CNBC
NEW YORK - Stocks tumbled on Friday as fears about the stability of the top two home financing providers Freddie Mac and Fannie Mae, combined with oil at a record above $147, clouded the economic outlook. Friday's slide capped a tumultuous week, in ...
2008-07-11 01:37:00 -
UAL to record $2.6B to $2.7B in 2Q charges - USA Today
NEW YORK (AP) — United Airlines parent UAL said it will record $2.6 billion to $2.7 billion in accounting charges in the second quarter, according to a regulatory filing Friday. The largest chunk is a noncash impairment charge of between $2.2 ...
2008-07-11 12:26:00 -
Lehman shares plunge again - CNN Money
NEW YORK (CNNMoney.com) -- Shares of Lehman Brothers got socked yet again Friday, ending sharply lower just a day after the Wall Street firm provided more details about last quarter's nearly $3 billion loss. Lehman ( LEH , Fortune 500 ) shares ...
2008-07-11 01:30:00 -
Investors Run For Oil And Gold - Forbes
Investors worried Friday that U.S. mortgage lenders Fannie Mae and Freddie Mac would need a government bailout, sending them to hedge their bets against inflation with oil and gold. The increased threat of further conflict in the Middle East ...
2008-07-11 01:37:00 -
Capital Research, Legg Added to Freddie Mac Holdings (Update1) - Bloomberg
July 11 (Bloomberg) -- Capital Research Global Investors and Legg Mason Inc. raised their stakes in Freddie Mac in the first quarter, only to watch the value of the second-largest U.S. mortgage company fall more than 69 percent since March 31 ...
2008-07-11 01:23:00 -
Halifax signals mortage market upturn with interest rate cut - Daily Telegraph
Britain’s biggest lender cut rates by as much as 0.57 percentage points yesterday, a signal that the worst of the mortgage market turmoil could be over, according to experts. It is the second time in a fortnight that Halifax has changed its rates ...
2008-07-11 01:30:00 -
MARKET SNAPSHOT: U.S. Stocks End With Weekly Losses On Fannie, Freddie Trouble (Nasdaq)
U.S. stocks on Friday lapsed back into the cellar to close with weekly losses after a late-day burst into positive turf that followed reports that Federal Reserve Chairman Ben Bernanke offered the central bank's discount window to battered mortgage lenders Fannie Mae and Freddie Mac.
2008-07-11 01:45:54 -
Need Help Saving Your Home? (4:41pm) (CBS 6 Richmond)
The foreclosure rescue moving through Congress would let financially strapped homeowners who would normally be considered too debt-ridden to qualify for safe, government-insured mortgages refinance their home loans through the Federal Housing Administration to get more affordable loans with lower monthly payments.
2008-07-11 01:47:03 -
Benefits of foreclosure rescue (Las Vegas Sun)
Fri, Jul 11, 2008 (1:39 p.m.)
2008-07-11 01:47:12 -
Freddie, Fannie shares down on talk of gov't aid (AP via Yahoo! Finance)
Shares of Fannie Mae and Freddie Mac sank, then recovered somewhat, on a gut-wrenching Friday as investors tried to ascertain whether the government will soon intervene to shore up confidence in the troubled mortgage finance companies.
2008-07-11 01:48:49 -
Real Estate Close-Up: Las Vegas (The Washington Times)
Las Vegas has the distinction of having one of the worst housing markets in the country. But now that slump, along with job losses and high fuel prices, is infecting Sin City's commercial real estate market, sending vacancies in all sectors sky high.
2008-07-11 01:52:09 -
GE profit falls, meets estimates, sells loan unit (AP via Yahoo! Finance)
General Electric Co. reverted to form with no big surprises in its latest earnings report, and investors shocked by an unexpected profit shortfall three months ago showed their appreciation.
2008-07-11 01:52:48 -
Citi sells German retail biz to Credit Mutuel for $8 bn (The Economic Times)
Citigroup is selling its German retail business to France’s Credit Mutuel for more than $8 billion as the biggest US bank continues to grapple with the global markets crisis.
2008-07-11 01:54:59 -
Statement by Freddie Mac, July 11, 2008 (PR Newswire via Yahoo! Finance)
Freddie Mac is adequately capitalized, highly liquid and an essential part of the nation's housing system. We are in the process of finalizing our results and we estimate that at June 30, 2008, we will have a substantial capital cushion above the 20% mandatory target surplus established by our regulator, the Office of Federal Housing Enterprise Oversight and a much greater surplus above the ...
2008-07-11 01:56:00 -
Stocks end lower amid worries on Fannie, Freddie (AP via Yahoo! Finance)
Wall Street's angst over the ongoing fallout from the credit crisis made for a turbulent end to a volatile week Friday -- stocks tumbled, soared and then turned south again as investors tried to assess the dangers faced by the country's biggest mortgage financiers, Fannie Mae and Freddie Mac.
2008-07-11 01:57:13