Highlights
A collection of news and information related to Mortgages published by Tribune Company sources.
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Home Depot hammered by housing market
The Home Depot Inc. said Tuesday that its second-quarter profit sank 24 percent and reiterated its downbeat outlook for the year amid a weak housing market that shows no signs of recovery. For the three months ending Aug. 3, the nation's largest home...Tags: Parkway Properties Incorporated, Wachovia Corp., Financial and Business Services, Orange County Convention Center, House and Home
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Consumers feel fallout from Fannie Mae, Freddie Mac
The Associated PressJeff Jaye, a mortgage broker in Northern California, used to rely on homeowners looking to refinance their loans for more than two-thirds of his business. Today, he rarely bothers with those applications because he knows most homeowners can't qualify...Tags: Fannie Mae, Credit Ratings, Freddie Mac, Financial and Business Services
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"Liar loans" threaten to prolong mortgage crisis
In the mortgage industry they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job and [no] assets." The nation's...Tags: Financial and Business Services, Freddie Mac, Moody's Corporation, Fannie Mae, American Home Mortgage
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Doubts On Raising Capital Hinder Fannie And Freddie
Associated PressAs mortgage financiers Fannie Mae and Freddie Mac struggle with continuing credit losses, their ability to raise needed capital is uncertain and, analysts say, is complicated by the possibility of a government bailout of the two companies. "We're in...Tags: Government, Paul Miller, Fannie Mae, Heads of State, Freddie Mac
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Government no white knight
Re the Aug. 12 letter, "Mortgage Mess": The letter writer wants the government to ride to the defense of "families ... sucked in by unscrupulous lenders" who are "thrown out of their homes through no fault of their own." What? He laments that the low... -
Loan giants revisited by bailout talk
From wire reportsWhether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality. Amid renewed concern that...Tags: Federal Reserve, Government, Henry M. Paulson, Public Finance, Society
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Savers taking a beating — quietly
Associated PressTwo giant mortgage companies get into hot water over risky investments. The government steps in to throw them a lifeline should they need it. Hundreds of thousands of Americans buy homes more expensive than they can afford. Congress approves a rescue...Tags: National Government, Government, Federal Reserve, Henry M. Paulson, University of Chicago
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Bankrupt AHM to repay some creditors 5.9% of debt
emi.endo@newsday.comUnsecured creditors are to be repaid no more than 5.9 percent of what they are owed by bankrupt American Home Mortgage Investment Corp., Bloomberg News is reporting. Using cash from the sale of its assets, the former Melville-based company will pay...Tags: Melville, American Home Mortgage Investment Corporation, American Home Mortgage, Bankruptcy
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Southern California home sales jump 13.8% in July
Los Angeles Times Staff WriterSouthern California home sales rose last month for the first time in nearly three years, as steep discounts lured buyers back into a market where values have tumbled 31% over the last year. Sales volume was up 13.8% overall from a year earlier, with...Tags: Condos and Houses, Foreclosures, Freddie Mac, Financial and Business Services, Real Estate Buyers
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Stocks Fall on Inflation Data, Financial Worries
Associated PressNEW YORK -- Wall Street fell sharply for a second straight session Tuesday after a hefty jump in wholesale inflation and a drop in new home construction gave investors more reason to believe an economic recovery is far off. The Dow Jones industrial...Tags: Federal Reserve, Alcoa Incorporated, Securities, Financial Markets, General Electric Company
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Mortgage lenders to offer foreclosure-prevention counseling Thursday
Sentinel Staff WriterFrom Countrywide Financial to Wells Fargo, major mortgage lenders are set to offer free foreclosure-prevention counseling Thursday at a free seminar in the Orange County Convention Center, organizers said this week. The in-person counseling is...Tags: EMC Corporation, Foreclosures, HSBC Holdings Plc, Fannie Mae, Orange County (Florida)
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Market Jittery About Bailout
Associated PressWhether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality. Amid renewed concern that...Tags: Federal Reserve, Family, Fannie Mae, Society, Freddie Mac
Aug 20, 2008
|Story| Orlando Sentinel
Aug 20, 2008
|Story| South Florida Sun-Sentinel
Aug 20, 2008
|Story| Newsday
Aug 20, 2008
|Story| Associated Press
Aug 20, 2008
|Story| South Florida Sun-Sentinel
Aug 19, 2008
|Story| Baltimore Sun
Aug 19, 2008
|Story| Baltimore Sun
Aug 19, 2008
|Story| Newsday
Aug 19, 2008
|Story| Los Angeles Times
Aug 19, 2008
|Story| KTLA-TV
Aug 19, 2008
|Story| Orlando Sentinel
Aug 19, 2008
|Story| Associated Press
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