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Stock Markets Plunge Worldwide |
| January 22nd, 2008 under Bond Market, Business, Economy, Finance, Market Update, Mortgage Blog, Stocks, Uncategorized, credit crunch. [ Comments: none ]
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LONDON (AP) — Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government’s stimulus plan to prevent a recession.
U.S. markets were closed for Martin Luther King Jr. Day, but the downbeat mood from last week’s market declines there circled through Europe, Asia and the Americas.
Read more…
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Mortgage Lender Jumped To His Death |
| January 19th, 2008 under Mortgage Blog, Mortgage News, Subprime lenders, Uncategorized, subprime meltdown. [ Comments: none ]
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AP
An executive of a collapsed subprime mortgage lender jumped to his death from a bridge Friday, shortly after his wife’s body was found inside their New Jersey home, authorities said.
The deaths of Walter Buczynski, 59, and his wife, Marci, 37 — the parents of two boys — were being investigated as a murder-suicide, according to [...]
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Lehman Shuts Down Aurora |
| January 17th, 2008 under Alt-A Mortgage, Mortgage Blog, Mortgage News, Secondary Mortgage Market, Subprime lenders, Uncategorized. [ Comments: none ]
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Aurora Loan Services’ parent company, Lehman Brothers, announced today that it will substantially reduce its resources and capacity in the U.S. residential mortgage origination space in light of the dislocation in the mortgage markets.
As a result, Lehman Brothers is suspending all Wholesale and Correspondent mortgage originations at Aurora.
Aurora will continue to originate loans through [...]
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The Chickens Are Coming Home To Roost |
| January 17th, 2008 under Housing Crash, Housing Market, Mortgage Blog, Uncategorized. [ Comments: none ]
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HINSDALE, Illinois (Reuters) - A house in this wealthy Chicago suburb is far beyond the reach of most Americans.
Unfortunately, Hinsdale may also now be too expensive for some of the people who already live here.
"There is a section of the population here that over-extended themselves to buy here and then keep up the facade of [...]
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Mortgage Broker Stabbed by a Disgruntled Client |
| January 6th, 2008 under Mortgage Blog, Mortgage Brokers, Mortgage News, Uncategorized. [ Comments: none ]
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And we thought the only thing “shady” loan officers and brokers needed to worry about were more regulations and finding a job. Now, it looks like some disgruntled clients may be looking for a pay back and it’s not just money they are looking for, it may mean murder.
Read more…
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Jobless Rate Hits 5 Percent |
| January 4th, 2008 under Economy, Mortgage Blog, Uncategorized. [ Comments: none ]
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WASHINGTON (AP) — Hiring practically stalled in December, driving the nation’s unemployment rate up to 5 percent, a two-year high. The new figures fan fears the economy could slide into a recession.
Last month, employers added the fewest new jobs to their payrolls in more than four years, said the jobs report released Friday by the [...]
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House prices to decline 5% in 2008 |
| January 4th, 2008 under Mortgage Blog, Real Estate, Uncategorized. [ Comments: none ]
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There is one big question looming for homeowners and commercial real-estate investors this year: How much worse will it get?
The past year was the most painful in decades for residential real estate, as defaults on loans to less-creditworthy borrowers created a broader credit squeeze. House prices fell, home ownership dropped, foreclosures soared, and the housing [...]
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