Mortgage and Financial News From 2008-2-3 Page 48

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• Bank losses are driving woes for the S&P 500 (Philly.com)

  NEW YORK - It doesn't take highly paid Wall Street analysts to figure out why corporate earnings are trending toward their worst performance in six years.
  2008-02-03 01:34:29

• Grim times shaping election (Toronto Star)

  Kristin Jones tries the front door of the YMCA in Voorhees Township, located in southern New Jersey's Camden County. It's locked. A sign says operations have been "suspended."
  2008-02-03 01:36:23

• Business Milestones

  Winston-Salem Journal - Tristone Community Bank’s Cherly LeVan was named the Mortgage Lender of the Year for 2007 by the board of directors of the Winston-Salem Mortgage Lenders Association. ■ Forsyth Medical Center earned a Bronze Award for Initial Performance ...
  2008-02-03 12:51:00

• FORECLOSURES: Hitting at home

  Chronicle-Telegram - In the last six years, mortgage lenders and banks have filed 10,267 property foreclosures with the Lorain County Clerk of Courts. According to data from RealtyTrac, which monitors the housing market, Ohio finished 2007 with the sixth-worst ...
  2008-02-03 12:01:00

• Reverse mortgages need warning

  Baltimore Sun - Areverse mortgage can be a financial lifeline, but consumer advocates are worried that some people are taking them out with too many strings attached. Some lenders inappropriately push older homeowners to the products or sell them additional high ...
  2008-02-03 12:23:00

• Negotiating the mortgage maze

  Boston Globe - ... Milewski said, would have to increase their own borrowings to finance the increased mortgage demand, borrowings that would likely come at higher rates simply because of the limited supply of money. Those costs would be passed onto consumers. Lenders ...
  2008-02-03 12:01:00

• TIC loan record:Spotless

  San Francisco Gate - In this sense, the TIC lending success story may be a model for other lenders looking to create new mortgage products. The bottom line is that someone pays - in this case it's homeowners paying a premium (through higher interest rates, higher credit ...
  2008-02-02 11:54:00

• Whole ZIP codes defined as 'high risk'

  Morning Call - | Critics call it the new redlining: Many of the country's largest mortgage lenders are imposing loan restrictions in entire counties or ZIP codes that they rank as risky or ''declining.'' On Jan. 25, Countrywide Bank sent mortgage brokers a list ...
  2008-02-03 12:01:00

• A mortgage crisis that didn't have to be

  Philadelphia Inquirer - Mortgage lenders did not have to push poisonous adjustable-rate loans at homeowners when they knew the individuals could not afford them. Wall Street investment banks did not have to ignore the poison, while bundling the mess into the esoteric bonds ...
  2008-02-02 11:54:00

• MARKET PULSE - Hartford Courant

  MARKET PULSEHartford Courant, United States - 1 hour agoA surge in home foreclosures is sapping profit at lenders and the insurers that protect them from borrower defaults. Banks have written off $110 billion on ...
  2008-02-03 12:05:34

• Many shoes will drop in subprime mortgage mess - Ventura County Star

  Many shoes will drop in subprime mortgage messVentura County Star, CA - 1 hour agoBy Paul Orfalea and For the past few months, America's subprime mortgage drama has dominated the news, but its threat to the overall economy puzzles some ...
  2008-02-03 12:06:49

• Real Estate Investors see Home Foreclosures as a Money Making ... - Emailwire

  Real Estate Investors see Home Foreclosures as a Money Making ...Emailwire - 1 hour agoLenders prefer to sell the mortgage at a lower price to investors than allow the value to depreciate while the property sits idle. ...
  2008-02-03 12:07:55

• Jeff Kaller will be in Chicago, IL to Lead two full-day Workshops ... - Emailwire

  Jeff Kaller will be in Chicago, IL to Lead two full-day Workshops ...Emailwire - 1 hour agoMortgage lenders would rather sell houses prior to foreclosure at a price below actual value than be left holding depreciated property especially in an ...
  2008-02-03 12:08:05

• Home equity borrowers get iced out - Denver Post

  Home equity borrowers get iced outDenver Post, CO - 1 hour agoCountrywide, the nation's largest mortgage lender, sent out 122000 such letters, including an undisclosed number to Colorado, in the past week. ...
  2008-02-03 12:09:14

• Prime time to step into the real estate market? - HeraldNet

  Prime time to step into the real estate market?HeraldNet, WA - 1 hour agoFirst-time buyers can find loans with low or no down payment required, low private-mortgage insurance and rates that are comparable to those found in the ...
  2008-02-03 12:12:23

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