Mortgage and Financial News From 2008-1-24 Page 14

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  • Economic diversity will weather slump (Sonoma Index-Tribune)

    Rocky times are ahead for Sonoma County, but the diversity of its economy will hold it together until the crisis passes. That's the opinion of Dr. Steve Cochrane, senior managing director of Moody's Economy.com , who addressed a sold-out crowd at the fifth annual State of the County breakfast in Rohnert Park Wednesday.
    2008-01-24 06:57:53

  • Webster May Turn To More Job Cuts (Hartford Courant)

    Bank Is Focusing On Future Growth There could be more job cuts at Webster Financial Corp.
    2008-01-24 07:08:29

  • Wall Street Extends Its Rebound (IWon - Money)

    NEW YORK (AP) — Wall Street scored its second straight big advance Thursday after economic figures suggested the job market is holding up and as lawmakers agreed on measures that could ease concerns about consumer spending.
    2008-01-24 07:11:06

  • Full text of Deval Patrick's State of the State Address (Boston Globe)

    Governor Deval L. Patrick Addresses the State of the Commonwealth House Chamber State House, Boston Thursday, January 24, 2008
    2008-01-24 07:31:12

  • Text of Gov. Patrick's State of the State speech (Boston Globe)

    Text of Gov. Deval Patrick's State of the State address on Thursday, as prepared for delivery:
    2008-01-24 07:31:22

  • (AFX UK Focus) 2008-01-25 02:57 GMT: Hong Kong shares sharply higher on bargain-hunting after Wall St gains - UPDATE (Interactive Investor)

    HONG KONG (Thomson Financial) - Hong Kong shares were sharply higher in early trade Friday as investors hunted for bargains after Wall Street extended its gains overnight.
    2008-01-24 07:31:29

  • A Gathering Storm

    Time - As houses got more and more expensive, mortgage lenders extended loans that were bigger and bigger in relation to borrowers' incomes. "People can't spend 200% of their income on mortgages," quipped Stiglitz. The only way for this trend to continue ...
    2008-01-24 09:17:00

  • Cashpoints: Darling backs down over capital gains tax

    Guardian Unlimited - Mortgage lending fell to its lowest level in more than two-and-a-half years in December, as the credit crunch continued to affect the property market, the Council of Mortgage Lenders said today. Story in full On Guardian Unlimited Money More on mortgage ...
    2008-01-24 07:22:00

  • Nehemiah Corporation of America Reaches $1 Billion Milestone in ...

    Forbes - The Program reported substantial growth in 2007 as banks and mortgage lenders abandoned risky products once promoted to low and moderate income families and returned to the stability and affordability of mortgage products offered in conjunction with ...
    2008-01-24 09:10:00

  • Record lows for mortgage approvals

    Financial Times - The BBA measures mortgages approved by banks only, accounting for around 60 per cent of the total, but its figures corroborate data released last week by the Council of Mortgage Lenders showing gross mortgage lending fell last month to its lowest ...
    2008-01-24 03:12:00

  • Time To Refi?

    CBS News - If the Fed lowers rates again next week as expected, some mortgage lenders may again be overrun by a surge in volume of refinancing requests. This can delay the closing process and cost borrowers in the form of lost interest rate locks resulting in ...
    2008-01-24 08:34:00

  • IndyMac says Moody's pulls rating at its request

    Reuters - Like many mortgage lenders, IndyMac has lost money as more borrowers fall behind on their home loans. On Jan 15, it announced plans to cut 2,403 jobs, or 24 percent of its work force, and said it expected to be profitable in the second half of 2008 ...
    2008-01-24 11:54:00

  • Fitch Downgrades IndyMac

    Street.Com - IndyMac, one of the few remaining independent mortgage lenders at this point, had maintained a single B rating from Moody's for its holding company, while its bank subsidiary had a D-minus rating when it came to financial strength. Moody's also rated ...
    2008-01-24 01:42:00

  • Tempus comment: The cutting edge

    Times Online - It can come as no surprise that mortgage lenders suffered a slowdown in business last month. The seizure in the credit markets left some lenders struggling to balance their books, and in some cases they simply didn't have the cash to lend to would-be ...
    2008-01-24 11:33:00

  • New mortgage refinancing boom under way

    BusinessWeek - Mortgage lenders tend to peg their rates instead to the yield on the 1-year Treasury note or 3-month London Interbank Offered rates. However, the Fed's action was a response to worrisome economic and credit market developments that also have been ...
    2008-01-24 02:03:00

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