Mortgage and Financial News From 2007-8-18 Page 10

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  • Mortgage crisis may hurt sales this fall

    Boston Globe - The mortgage industry's difficulties began early this year and came to a head last week when the nation's largest mortgage lender ... The squeeze is being keenly felt in two important segments of the home buying population: first-time buyers with little ...
    2007-08-18 06:31:00

  • Another Santa Cruz lender goes dark

    Santa Cruz Sentinel - It's the second time in two weeks that Santa Cruz has seen a national lender shut down. American Home Mortgage, which had 7,000 employees, closed its Ocean Street office this month. Some of American Home Mortgage's 18 local employees had moved to ...
    2007-08-18 11:50:00

  • First Magnus, big mortgage lender, halts loans

    MSN MoneyCentral - NEW YORK (Reuters) - First Magnus Financial Corp., one of the largest independent U.S. mortgage lenders, said on Thursday it has stopped funding home loans and taking mortgage loan applications because investors are not buying its loans. First Magnus ...
    2007-08-16 09:18:00

  • Turmoil Unsettles Mortgage Lender

    Ananova - The latest financial sell-off across the globe has come after US investor fears on the possibility of problems at big home lender groups such as Countrywide Financial. In London, mortgage lender Northern Rock was one of the worst hit stocks as ...
    2007-08-18 01:59:00

  • Ira Epstein & Company Weekly Metal Report (GoldSeek.com)

    As I began writing this weeks’ report, which I am doing after 1:00 P.M. CST, I noticed that last Thursday the market broke hard also. Metals did so again today. I hope this does not become a regular Thursday event.
    2007-08-16 09:21:27

  • AUTOMOBILE DONATIONS (Sag Harbor Express)

    Dvar. Maximize your IRS deductions and help teens in crisis. Call
    2007-08-17 04:11:44

  • The Fed Response (Washington Post)

    Washington Post business columnist Steven Pearlstein discussed how the Fed handled the financial market turmoil.
    2007-08-17 06:21:29

  • Countrywide Bank works to reassure clients (Los Angeles Times)

    Seeking to prevent a run on deposits, the head of Countrywide Bank offered assurances Friday that customers' accounts were unaffected by the troubles of its parent company, Countrywide Financial Corp.
    2007-08-18 04:21:49

  • Subprime lender NovaStar firing 37 percent of staff (Washington Post)

    NEW YORK (Reuters) - NovaStar Financial Inc , a subprime mortgage lender, said on Friday it will fire about 500 employees, or 37 percent of its work force, as it reduces home loans, given tough capital markets conditions.
    2007-08-17 06:07:19

  • Mortgage mayhem doesn't seem to be contagious for other types of credit (The Record)

    There is a severe credit crunch in the home mortgage market, but there should be few problems for consumers seeking other types of credit, such as car and personal loans, experts said Friday.
    2007-08-18 05:54:45

  • National mortgage lender cuts nearly all of its employees (KVOA Tucson)

    TUCSON, Ariz. -- First Magnus Financial Corp., a national mortgage lender that is suspending operations, says it has laid off 99 percent of its nearly 6,000 employees nationwide and...
    2007-08-18 01:11:54

  • Pay Down the Balance or Sit Tight and Invest? (Washington Post)

    Q: I am 58 and recently bought the home in which my wife and I plan to spend the rest of our lives. We paid points to reduce the rate on the 30-year, fixed-rate mortgage to 4.75 percent. I am feeling insecure, though. The payment is affordable now, but I plan to retire in seven years, and then my income will drop. At that point, my property taxes will almost certainly be higher, as well.
    2007-08-17 09:19:38

  • Mortgage lender lays off nearly 6,000 (El Paso Times)

    TUCSON, Ariz.—First Magnus Financial Corp., a national mortgage lender that is suspending operations, says it has laid off 99 percent of its nearly 6,000 employees nationwide and closed all of its more than 300 offices.
    2007-08-18 03:41:37

  • Subprime lender NovaStar firing 37 percent of staff (Reuters via Yahoo! News)

    NovaStar Financial Inc , a subprime mortgage lender, said on Friday it will fire about 500 employees, or 37 percent of its work force, as it reduces home loans, given tough capital markets conditions.
    2007-08-17 10:13:16

  • Changing the Cd’A skyline (Spokane Journal of Business)

    A homegrown Coeur d’Alene architectural and development firm is doing its share to shape the Lake City skyline. this decade, now is developing the 20-story, $50 million Parkside mixed-use tower nearby.
    2007-08-17 07:13:37

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