Top News

U.S. probes Fannie, Freddie - CNN - - companies connected to the mortgage crisis under investigation over the past year. Over the past year as the housing market cratered, the FBI has opened a wide-ranging probe of companies across the financial services industry, from mortgage lenders to
Wachovia: Just the Plum Citigroup Needed - BusinessWeek - - him was to simply stack '$1 billion bills' on the table until the target relented. Now, though, it's Wachovia (WB) that is being taken over, and its buyer, Citigroup (C), got Wachovia's core banking franchise for a mere buck a share, as the Federal
Financial rescue 101 - CNN Money - - again by letting the U.S. Treasury buy up their troubled assets, most of which are tied to the housing market crash. After much contentious debate and the addition of several taxpayer protections to the bill, the House is scheduled to vote on the
The question now: Will it work? - USA Today - - being close to failure,' said Camden Fine, president of the more than 5,000-member Independent Community Bankers of America. "Mortgage rates could fall. Typically, mortgage rates float about 2 percentage points above the yield on the 10-year Treasury

Sales Rise, but So Does Supply - Wall Street Journal Online - - WASHINGTON -- Existing-home sales climbed in July, rising more than expected, but inventories expanded and prices kept dropping. Home resales rose to a 5.00 million annual rate, a 3.1% increase from June's revised 4.85 million annual pace, the National...
Markets need more regulation, Fed told - USA Today - - JACKSON HOLE, Wyo. - Financial markets need to be more tightly regulated to prevent financial crises and quash perceptions that some firms are too big to fail and will be rescued by the government, central bankers and economists suggested at the Federal...

Foreclosure filings surge 55% over July '07 - USA Today - - WASHINGTON - The number of homeowners stung by the slumping housing market jumped last month as foreclosure filings were 55% higher than a year ago, according to data released Thursday. Nationwide, more than 272,000 homes received at least one
Prime mortgages get hit - CNN Money - - Prime mortgages are starting to record disturbingly high default rates, which could slow any potential housing recovery. The delinquency rate for prime mortgages worth less than $417,0000 was 2.44% in May, compared with 1.38% during May of 2007, accord...
Foreclosures rise; new - USA Today - - WASHINGTON - Foreclosure notices more than doubled from a year ago, but sales of new single-family homes were stronger than expected in June, falling just 0.6% to a 530,000 annual pace, two separate reports showed Friday. BIG SPENDER: Foreclosure filin...
WaMu: We have $50 billion in liquidity - CNN - - Washington Mutual's stock dove more than 13% Friday morning but recovered after the battered savings and loan confirmed that it had beefed up its liquidity. WaMu spokesman Derek Aney said in an email to CNNMoney.com that the company had 'increased our...
Will The Housing Bill Work? - NPR - - the Senate is expected to lend its approval to a major bill aimed at bolstering the battered U.S. housing market. Economists dislike the bill.

Market News

Real Estate Weekly: In some cases, no matter how low the price homes aren't cheap - MarketWatch - - We all know that local housing markets have been struggling. But buying a house for a buck? Apparently, a home is being sold for $1 in Detroit a move that will cost the bank $10,000, according to a report in The Detroit News. The property is a few b...
Flagstar Bank Selects ServiceLink as National Appraisal Company - Forbes.com - - Pittsburgh-based ServiceLink, a leading provider of origination and default services and the national mortgage services platform of Fidelity National Financial (NYSE:FNF) has been selected as a national appraisal vendor for Flags tar Bank. ServiceLink is...
Several Insurers Could See Big Fannie, Freddie Losses - Insurance Journal - - A handful of insurers holding equity in U.S. home-funding giants Fannie Mae and Freddie Mac could see big losses if a federal takeover wipes out the value of the agencies' common and preferred stock, as some investors fear. 'There are a handful (of insu...

First American gambled, lost on Mercury expansion - Inman - - Dispute over Colorado subsidiaries lands in court Bookmarking Sites Story Tools Sponsored by: First American Corp. could wind up with little to show for bankrolling the growth of the title and escrow subsidiaries of Mercury Companies Inc. to the tune of...
08/13/08 Mortgage Applications Decrease Slightly In Latest MBA Weekly Survey - Mortgage Bankers Association - - Welcome to MBA. The Refinance Index decreased 4.2 percent to 1074.6 from previous week and the seasonally adjusted Purchase Index remained unchanged. The Conventional Purchase Index decreased 1.2 percent while the Government Purchase Index (largely FHA...
Fannie Mae sweetens loan workouts - Inman - - Fannie follows Freddie, boosts workout incentives Fannie Mae has boosted incentives for loan servicers who engage in workouts with troubled borrowers that help them avoid foreclosure, including repayment plans, loan modifications, short sales and deeds-...
Subprime Today: Wachovia's commercial loans stir worries - MarketWatch - - Bank of England: No U.K. growth for next year The Bank of England said Wednesday there may not be any economic growth in the U.K. over the next year in a projection that assumes no hike in interest rates for two years. Mortgage applications down 1.5% l...
Toll sees sharp decline in 3Q homebuilding revenue - BusinessWeek - - woes, Toll's balance sheet and cash position remain strong and the company should be well positioned when the housing market recovers. Buoyed investors sent Toll shares up 20 cents to $20.84 on Wednesday. Toll was ranked the 13th largest homebuilder for
West Virginia sues Countrywide over mortgages - Forbes.com - - (Adds Bank of America comment, complaint details, byline) NEW YORK (Reuters) - West Virginia sued Countrywide Financial Corp (nyse: CFC - news - people ) accusing the mortgage lender, now owned by Bank of America (nyse: BAC - news - people ) , of making..

Real Estate Weekly: Cash-out refinancing picks up, but lower rates are the attraction - MarketWatch - - Don't miss these top stories: Cash-out refinancing, which many argue drove a lot of consumer spending in the housing boom years, has fallen off -- but it hasn't fallen off a cliff. Freddie Mac said this week that two-thirds of loans it owned that we...
Realty Check: The Pulse of Housing - CNBC - - Extract not available.
Executive Title Insurance Services, Inc. Changes Name to Stewart Title - Business Wire - - Southwest Florida title company aligns under national Stewart Title brand FORT MEYERS, Fla.--(BUSINESS WIRE)--With 11 locations, Executive Title Insurance Services, Inc. has served the title industry needs of southwest Florida for the past 27 years. Tod...
Old Republic Int'l falls to 2nd-quarter loss - AP via MSN Money - - CHICAGO (AP) - Old Republic International Corp. said Thursday that it moved to a loss in the second quarter, missing Wall Street's estimates, due to continued weakness in the insurer's mortgage guaranty and title insurance lines. For the period ended Ju...
LandAmerica Financial's ratings on negative watch - S&P - Forbes.com - - Services said it placed its 'A-' counterparty credit and financial strength ratings on LandAmerica Financial Group Inc.'s (LFG) title insurance operations on negative watch, following the announcement of unfavourable operating results by LandAmerica's
Ohio Department of Insurance Amends Rule Concerning Annual Review of Title Insurance Agent Escrow Accounts - Ohio Department of Insurance - - Extract not available.
Feds Seize Two More Banks - Consumer Affairs - - for Financial Crisis • IndyMac Cuts Staff, Trims Mortgage Operations • Consumer Delinquencies Rise in First Quarter • Existing Home Sales Rose in May • California Sues Countrywide For Mortgage Deception • Metro Home Values Drop Again in April
Downey Financial's rating cut to 'BB+/B'; on negative watch - S&P - Forbes.com - - 'BBB-/A-3', signalling the possibility of a further downgrade citing increasing concerns about the substantial negative effect California's deteriorating housing market is having on the company's credit performance, financial profile and capitalization.