Mortgage Applications Slide Down 7.6 Percent Last Week
According to the Mortgage Bankers Association’s weekly application survey new mortgage applications were down 7.6 percent during the week ending December 21st.
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Archive for December, 2007
October Home Prices Suffer Record Drops
A national home price gauge released today showed that prices of existing single-family homes recorded their biggest annual drop in October.
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Billionaire Joseph Lewis Takes on More Stake in Bear Stearns
Today Joseph Lewis disclosed in a regulatory filing that he has just increased his stake in Bear Stearns to 9.57 percent.
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Banks Abandon Plan for Super SIV
Citigroup, Bank of America, annd JPMorgan Chase abandon their plan to create a 100 billion dollar super fund designed to unblock the credit markets.
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Posted by Ryan Fiore on Dec 21 2007 under Bank of America, Citigroup, JPMorgan Chase, Mortgage Lending
Freddie Mac to Sell 5 Billion in Bills
Freddie Mac announced today that it plans to sell 5 billion dollars in reference bills next week.
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MBIA Announces High Mortgage Exposure
MBIA Inc, the world’s largest bond insurer, announced today that it had guaranteed 8.1 billion dollars of the riskiest mortgage securities
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Posted by Ryan Fiore on Dec 20 2007 under Bad Credit, Housing Market, Investing in Real Estate, Mortgage Lending
Bush Signs off on a Bill that Gives Relief to Struggling Homeowners
President Bush announced today that he signed into law a bill that will waive taxes for many homeowners that must restructure their mortgages as they face foreclosure.
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Bear Stearns re-hires mortgage trader
Bear Stearns announced today that they would rehire Russell Middleton as a trader for its mortgage-backed securities desk.
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Posted by Ryan Fiore on Dec 19 2007 under Bear Stearns, Mortgage Lending
NovaStar CEO to Retire
NovaStar Financial announced late today that Scott Hartman, Chairman, CEO, and Co-Founder of Novastar, will leave the company to retire.
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Posted by Ryan Fiore on Dec 19 2007 under Housing Market, Mortgage Lending
New Single Family Construction at a 16 Year Low
New home construction in the US fell 3.7 percent in November putting construction of single family homes at the lowest level in more than 16 years.
Posted by Ryan Fiore on Dec 18 2007 under Home Builders, Housing Market