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Manhattan Apartment Prices Skid 13 To 19 Percent
Apartment prices in the typically resilient Manhattan market plunged in the second quarter by the largest annual amount in decades, data released Thursday showed.
U.S. Mortgage Rates Drop to 5.32%, Freddie Mac Says
Mortgage rates in the U.S. fell this week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum.
problembanklist.com | mortgagenews
Qualified Buyers Only For Troubled Banks | Problem Bank List
Despite 52 failed banks in 2009 and many more to follow, Sheila Bair, FDIC Chairman, has wisely chosen to restrict private capital investments in failed banks to qualified buyers only. In mid May of this year, Ms.
problembanklist.com | mortgagenews
Large CDO Losses Blamed for 7 More Bank Closures | Problem Bank List
There were seven more failed banks this week on July 2, 2009 as detailed below: 2009 has now seen a total of 27 more failed banks than occurred for all of 2008. The latest 7 banking closures by the FDIC brings total banking failures for 2009 to 52.
VIDEO: Fannie and Freddie to Refinance Mortgages With Loan-to-Value Ratios of 125%
Struggling homeowners may soon be getting more help from Uncle Sam. Housing and Urban Development Secretary Shaun Donovan announced today that Fannie Mae and Freddie Mac will begin refinancing mortgages with loan-to-value ratios of 125 percent.
www.bloomberg.com | mortgagenews
Beazer to Settle Fraud Case for Up to $53 Million
Beazer Homes USA Inc . agreed to pay as much as $53 million to the government and homeowners to resolve allegations of mortgage fraud, the Justice Department said.
www.bloomberg.com | mortgagenews
Banks `Burned Once' by Mortgage Bonds Increase Holdings 6% as Prices Rise
Banks are buying the mortgage-backed bonds that hobbled the global financial system, helping to sustain higher prices for the debt, according to Federal Reserve data, investors and traders.
problembanklist.com | mortgagenews
How One Troubled Bank Survived With Special Help | Problem Bank List
Many US officials at the Treasury and Federal Reserve have criticized Japan's policy of propping up Zombie banks and therefore prolonging their banking crisis. The theory was that the weakest banks made the worst lending decisions and should be allowed to fail instead of being subsidized with taxpayer dollars. Consider the case of Central ...
America's Most Troubled Luxury Neighborhoods
The collapse in prices has finally come to your neighborhood, too, Mr. Comfortable. Has the housing market scraped bottom? Not in some of the wealthier neighborhoods--places like New York City's Greenwich Village, Santa Monica, Calif.
Did Homeowners Cause The Great Recession?
The person who caused the current world recession can be found not on Wall Street or the city of London, but instead could be you, and your next-door neighbor--the people who put so much of their savings and credit to buy a house.
www.businessweek.com | mortgagenews
A Tough New World For Global Banking - BusinessWeek
Financial institutions face a barrage of challenges to their business and financial profiles, including further losses and regulatory reform Midway through 2009, global banks can expect to experience further losses, which are now emanating from the more predictable loan portfolios.
problembanklist.com | mortgagenews
Only Four States Have Almost Half Of All Foreclosures - What Happened? | Problem Bank List
The FDIC Economic Landscape Report details how the out of control lending mania created the perfect housing storm. The largest housing bust in US history centers in four states which had the largest housing price increases and are now suffering the consequences of a boom gone bust.
Administration sends Congress consumer legislation
President Barack Obama asked Congress on Tuesday to create a new agency to police the fine print on consumer products like credit cards and mortgages and determine what fees, penalties and interest rates are fair.
Six people are indicted on mortgage-frau
New Jersey Attorney General Anne Milgram today unveiled three separate mortgage fraud indictments, including a $1.15 million conspiracy to steal identities for fraudulent loans and credit cards.
Mortgage approvals up for fourth month in a row - Bank of England
The number of mortgages approved for house purchase rose for the fourth month in a row during May as buyers continued to return to the property market, figures showed today.
NY Times, McClatchy honored at Loeb Awards
McClatchy & Co., one of the companies hardest hit by the crisis in the newspaper industry, was honored Monday for its coverage of the economic meltdown.
Wary Banks Hobble Toxic-Asset Plan
The government's plan to enable banks to dump troubled assets is facing troubles of its own.
mortgagedfuture.com | mortgagenews
Will There Be A TARP 2 If Bank Losses Expand? | Mortgaged Future
Since the beginning of the year, major banks have raised over $200 billion in capital, far in excess of the $75 billion of new capital that the government stress tests had called for. The market prices of major bank stocks have recovered dramatically since March, indicating that Wall Street investors see a recovery in the banking industry.
JPMorgan, Citigroup Expand in a Jumboa Home Mortgages (Update2)
JPMorgan Chase & Co. and Citigroup Inc. are expanding in jumbo mortgages used to buy the most expensive homes, helping revive a market that shriveled amid a three-year jump in homeowner defaults.
Good Time To Refinance Term Life Insurance
The window might be quickly closing on consumers' opportunity to refinance at great rates - not their home mortgages, but their term life insurance, experts say.