Mortgage and Financial News From 2007-8-23 Page 14

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  • Home sales fall for the second quarter; what goes on here? (The Sauk Prairie Eagle)

    SAUK PRAIRIE AREA - The bad news is, over the second quarter home sales fell 10.8 percent nationally and 7.2 percent in Wisconsin. Home sales in the Midwest dropped 8.4 percent.The good news is, the median price of a home in Wisconsin increased 1.2 percent to $168,000.Wisconsin's housing market may have softened, but Roger Rushman, chairman of the Wisconsin Realtors Association says Wisconsin is ...
    2007-08-22 03:58:24
  • FDIC eyes markets, banks as troubled mortgages up (Reuters via Yahoo! News)

    The Federal Deposit Insurance Corporation, which insures bank deposits, said on Wednesday it is keeping a close eye on the unpaid real estate loans that are piling up at U.S. banks and thrifts.
    2007-08-22 07:19:13
  • German Second-Quarter Growth Slowed on Construction (Update3) (Bloomberg.com)

    Aug. 23 (Bloomberg) -- German economic growth slowed in the three months through June, led by the biggest decline in construction spending in a decade.
    2007-08-23 07:37:59
  • Corporate bonds market - Russian agencies held hostage by U.S. mortgages (Interfax)

    MOSCOW. Aug 23 (Interfax) - The crisis on the U.S. mortgage market has fueled a radical reassessment of risks on international stock exchanges and led to investors fleeing en masse from the corporate bonds sector, particularly subprime mortgage loans, to more conservative financial instruments.
    2007-08-23 12:33:41
  • Bank earnings suffer in second quarter (Market Watch)

    WASHINGTON (MarketWatch) -- Bank earnings dropped by 3.4% in the second quarter of the year as troubled loans for real estate continued to pile up and net interest margins narrowed, the Federal Deposit Insurance Corp. reported Wednesday.
    2007-08-22 02:36:34
  • Larimer Co Credit Union Goes Into Conservationship (CBS4 Denver)

    Faced with mounting delinquencies in second mortgages and construction loans, Norlarco Credit Union, Larimer County's largest, has been placed under the control of federal regulators.
    2007-08-23 11:27:00
  • German Second-Quarter Growth Slowed on Construction (Update1) (Bloomberg.com)

    Aug. 23 (Bloomberg) -- German economic growth slowed in the three months through June, led by a decline in construction. Construction spending fell 4.8 percent in the second quarter from the first, the Federal Statistics Office in Wiesbaden said today.
    2007-08-23 07:08:33
  • Mortgages Lead Biggest Rise in Late Loans Since 1990 (Update2) (Bloomberg.com)

    Aug. 22 (Bloomberg) -- U.S. banks and thrifts suffered the biggest increase in late loan payments in 17 years as more homeowners fell behind on mortgages, the Federal Deposit Insurance Corp. said.
    2007-08-22 08:10:34
  • With more mortgages past due, foreclosures are expected to surge (Sun-Sentinel)

    With more mortgages past due, foreclosures are expected to surge U.S. banks and thrifts suffered the biggest increase in late loan payments in 17 years as more homeowners fell behind on mortgages, the Federal Deposit Insurance Corp. said.
    2007-08-23 07:20:51
  • Late loans soar on troubled mortgages: FDIC (Washington Post)

    WASHINGTON (Reuters) - The Federal Deposit Insurance Corporation said on Wednesday delinquent loans at U.S. banks jumped 36 percent to $66.9 billion in the second quarter, the biggest quarterly increase since 1990, largely fueled by unpaid real estate loans.
    2007-08-23 12:20:39
  • Suit: African-Americans targeted in 'lemon' home sales

    New York Daily News - It's a nightmare we're still trying to cope with," said Sylvia Gibbons, who contends United Mortgage pressured her and her ... exclusively with minorities out of the biased perception that those individuals would be especially vulnerable to fraud ...
    2007-08-23 06:08:00
  • Court: Nacchio Can Remain Free on Bond

    Fort Lauderdale Sun-Sentinel - In a related case, Nacchio and four other ex-executives of Qwest Communications International Inc. are named in a civil fraud lawsuit filed by the Securities and Exchange Commission. The SEC case is not expected to be set for trial until 2009. More ...
    2007-08-23 09:57:00
  • It's Out of Bernanke's Reach

    BusinessWeek - Subprime mortgage lending, where the trouble started, will probably take the longest to recover. The problem there is rampant fraud by borrowers and lenders alike. Fed officials hope to see clear improvement in market functioning by the next meeting ...
    2007-08-23 05:25:00
  • Banking Industry Awards Winnipeg Police Officers' Fight Against Bank ...

    CNW Group - It is alleged that the group was responsible for committing sophisticated bank break-ins as well as mortgage fraud, credit card fraud, debit card fraud and material goods fraud. The group's leader is also accused of stealing the Koechert Pearl ...
    2007-08-22 01:54:00
  • Everything local, every day

    MSNBC - A broker calls offering you a mortgage with guaranteed low monthly payments. An investment opportunity arrives in the mail ... Thousands of people nationwide fall victim to fraud, scams and identity theft every year. In 2006, 674,354 people reported ...
    2007-08-23 03:30:00