Mortgage and Financial News From 2008-3-11 Page 01

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  • Stocks start week with more losses

    The Washington Times - Mortgage lenders dropped after Thornburg Mortgage was downgraded by Jefferies & Co., and Countrywide Financial was reported to be under investigation for securities fraud.
    2008-03-11 05:14:00

  • The grim reality of economic truths

    Online Journal - Standard & Poor's Ratings Services said its rating outlook on US homebuilders remains emphatically negative and it believes a recovery is not yet in sight, as six of the nation's largest mortgage lenders have temporarily stopped foreclosure ...
    2008-03-11 09:10:00

  • Australian Consumer Confidence Plunges to 15-Year Low (Update5)

    Bloomberg - Gloom over the increases in interest rates has probably been compounded by additional mortgage-rate increases by lenders,'' said Bill Evans , Westpac's Sydney-based chief economist. ``This development takes even more pressure off the Reserve Bank to ...
    2008-03-11 10:57:00

  • Carlyle Capital Corporation Continuing Discussions with Major Lenders

    Forbes - Due to recent turmoil in the market for mortgage-backed securities, the Company's lenders have significantly reduced the amount they are willing to lend against the Company's portfolio of U.S. government agency AAA-rated residential mortgage-backed ...
    2008-03-09 10:02:00

  • Fed takes boldest action since the Depression to rescue US mortgage ...

    Daily Telegraph - ... the boldest action since the 1930s, accepting $200bn of housing debt as collateral to prevent an implosion of the mortgage ... It followed the melt-down of the US chartered agencies -- Fannie Mae, Freddie Mac, and other lenders -- which together ...
    2008-03-11 09:10:00

  • Asian markets up on cash boost

    BBC Business - In the UK, mortgage lenders announced a sharp slowdown in the number of home loans that are being approved due to the difficulties that many banks face raising funds on commercial money markets.
    2008-03-11 09:53:00

  • Australian consumer confidence plunges to lowest since 1993 as ...

    CNBC - They indicate that the Reserve Bank's last rate hike, combined with further independent (rate rises) from the mortgage lenders, may have finally slowed demand such that inflationary pressures will ease.
    2008-03-11 10:07:00

  • Hong Kong shares end morning higher on Fed move to ease credit crunch

    Forbes - The Dow Jones Industrial Average finished 3.6 percent higher to settle at 12,156.81 on Tuesday after the Fed announced the measure as part of a worldwide effort to help banks and mortgage lenders.
    2008-03-11 10:00:00

  • PRESS DIGEST - Wall Street Journal - March 12

    Reuters - Struggling mortgage lenders are seeing a rebound in business as they originate loans backed by the FHA, a government mortgage agency. * Japan's Upper House of Parliament voted down the government's proposal to name Toshiro Muto as the next governor of ...
    2008-03-11 10:50:00

  • Subprime woes, with a British accent

    Chicago Tribune - But many mortgage lenders, operating on thin margins in a competitive market and having trouble accessing cash in the tight credit market, have elected not to pass on the rate reduction.
    2008-03-11 09:53:00

  • As defaults rise, banks tightening loan rules (The Clarion-Ledger)

    The loan you qualify for on Monday might be out of reach on Tuesday.
    2008-03-11 11:11:23

  • Fed opens a bag of tricks (Cape Cod Times)

    WASHINGTON — Ben Bernanke is stretching hard for new ideas to relieve the nation's painful credit crunch.
    2008-03-11 11:13:00

  • Broken Dreams: Has crisis plunged us into recession? (Gaylord Herald Times)

    GAYLORD — National headlines are grim as the housing market collapse persists, the number of foreclosures keeps climbing, and, in turn, consumers tighten their belts and cut back on their spending.
    2008-03-11 11:15:08

  • Shattered Dreams: Sheriff’s sales climb across Michigan (Gaylord Herald Times)

    PETOSKEY — At first glance, the paperwork proliferating on an Emmet County Building bulletin board might seem mundane. But it hints at a trying process that growing numbers of Northern Michigan homeowners have been facing: foreclosure.
    2008-03-11 11:15:29

  • Market woes not as severe for local housing industry (Edwardsville Journal)

    Interest rates have dropped, the inventory of houses for sale has flourished and everyone agrees it's a buyer's market.
    2008-03-11 11:20:42

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