Mortgage and Financial News From 2007-12-25 Page 10
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Tattered Standard of Duty on Wall Street
New York Times - But the ordinary stockholders of the banks and mortgage companies are staggered. Entities that sought a marginally better return on their money and were sold exposure to the C.M.O.’s are pauperized because of the losses. And there are reports that ...
2007-12-22 03:54:00 -
Public giants in private markets
Christian Science Monitor - The mortgage crisis of 2007 has hit US financial companies hard. The latest firm to seek a foreign-government rescue is Morgan Stanley. On Dec. 18, it gave a 10 percent stake to a newly created arm of the Chinese government, China Investment ...
2007-12-24 12:17:00 -
Can Real Estate Companies in Michigan Recover From Recent Hard Hits?
pressbox.co.uk - Three years ago banks and mortgage companies were offering low interest rates on adjustable rate mortgages. Recently those interest rates have gone up causing mortgage payments to double and even triple. Add this with Michigan’s failing job market ...
2007-12-21 03:55:00 -
News Minute: Vatican celebrates...Final ground zero Mass...Fidel ready ...
WDAM-TV - The Latest in House and Home House & Home Main Today's Mortgage Rates Money This Week in Money Money Home For Small Businesses ... The two companies are in a neck & neck race for the title of world's top automaker. Copyright 2007 The Associated Press. All ...
2007-12-24 09:21:00 -
Attorney: Family of woman killed in Boston's Big Dig collapse agrees ...
Charleston Gazette - We hope that Bechtel and the other companies now show the same strength of character.'' The lawsuit claims tunnel contractors, subcontractors and others involved in the project were "negligent, grossly negligent and/or reckless in selecting and ...
2007-12-24 10:25:00 -
Analysis: White House Congress Fed scrambling to deal with mortgage crisis (Chesterton Tribune)
WASHINGTON (AP) — After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year.
2007-12-24 11:48:50 -
U.S. mortgage crisis may be replaced with credit card debt in 2008 (680 News)
The U.S. sub-prime mortgage crisis of 2007 may be replaced by the credit card crisis in 2008, as Americans have been falling behind in paying their bills, with credit defaults climbing by double digits.
2007-12-24 08:34:41 -
First-time buyers are scarcer than at any time for 30 years
Times Online - Richard Morea, technical director at London & Country mortgages, a mortgage broker, said: “In most cases, first-time buyers just can’t afford the mortgage repayments. House prices have simply left them behind.” Stamp duty, which is payable on ...
2007-12-21 03:55:00 -
No real estate crisis too big for Santa and elves
Tacoma News Tribune - She began her career in real estate as an agent, and later a broker with Kringle Kottages. Norbotten’s big break came when Santa himself promoted her to chief mortgage broker. She weathered the recession of 1982-83 and opened North Pole Mortgage ...
2007-12-24 07:45:00 -
From the first cup, success has overflowed
Houston Chronicle - I do a lot of business here," said Wagner, a mortgage broker. People-connector Manning said she's most proud of Starbucks as a people-connecting place, and it's certainly been that way for Wagner. He met his wife on a blind date there, and before ...
2007-12-23 03:53:00 -
Guilty plea in mortgage scam
Asbury Park Press - NEWARK — A former mortgage broker became the latest person to plead guilty in a wide-ranging scam run by a Mahwah real estate mogul. Frank Corallo, 34, of Wantage faces between 30 and 37 months when he is sentenced in April. He admitted in federal ...
2007-12-23 01:05:00 -
Merrill shores up capital by as much as $7.5 bln (Reuters via Yahoo! News)
Merrill Lynch & Co Inc shored up its capital base by as much as $7.5 billion after selling a stake to Singapore's government and an asset manager, and unloading much of a lending business, as it wrestles with huge subprime mortgage losses.
2007-12-24 12:11:29 -
No real estate crisis too big for Santa and elves (Tacoma News Tribune)
Betty Norbotten, president of North Pole Mortgage Services LLC, came to the Land of Santa after falling overboard on a Lindblad cruise of the fjords near Spitzbergen in the mid-1950s. She was rescued by a team of four reindeer who happened by on a low-level night training flight, and was taken to the workshop to recuperate. She began her career in real estate as an agent, and later a broker with ...
2007-12-24 06:38:49 -
Canadian Asset-Backed CP Market to Resume Trading (Update3)
Bloomberg - The Canadian market for asset-backed commercial paper sold by non-bank dealers seized up after losses by subprime-mortgage ... Crawford said that based on the advice of financial adviser JPMorgan Chase & Co., most of the restructured notes will ...
2007-12-24 08:14:00 -
Winners and losers from a wacky year
Lexington Herald-Leader - CEOs retired rich even as declining mortgage holdings shrunk their banks' assets by billions. O'Neal left Merrill ... on top of $6.5 billion it had already taken. Prince parted with $95 million. Their prizes: Investment advice ...
2007-12-24 11:51:00