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Newsdesk | Volume 2 | Issue 70 October 09, 2007
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Top Stories
WaMu
expects 75% earnings drop - CNN Money - 6 hours ago
- SEATTLE (AP) -- Washington Mutual Inc. said Friday that
the weak housing market and the recent mortgage crunch
will lead to a 75 percent drop in its third-quarter net
income, making it the latest financial institution to
warn investors that it took a ma...
S&P:
Washington Mutual Outlook Stable - Forbes.com - 52 minutes
ago - Standard & Poor's Ratings Services is no longer
considering boosting Washington Mutual Inc.'s debt rating,
the credit rating agency said Monday, citing a grimmer outlook
for the bank's profit through next year. S&P affirmed
its 'A-/A-2' rating on Washin...
FDIC: Freeze ARM rates - CNN - Oct 5 - NEW YORK (CNNMoney.com)
-- The heat on U.S. mortgage lenders and servicers was turned
up a few degrees this week when the country's chief bank
regulator publicly proposed that they permanently freeze
interest rates on subprime adjustable-rate mortgages...
Good Risks Get Credit Again, but Home Sales Spiral Lower
- US News - Yesterday - Lower mortgage rates, more Wall
Street deals, new stock market records: On the surface,
it looks as if the Federal Reserve not only calmed the credit
panic but 'reloaded the punch bowl with vodka,' says Tom
Taulli, author of The Complete M & A Handbook...
American Home scraps auction - CNN Money - Oct 6 - PHILADELPHIA
(Dow Jones/AP) -- Bankrupt lender American Home Mortgage
Investment Corp. has cancelled a scheduled Friday auction
of its mortgage loan servicing business, and said it will
seek court approval to sell the operation to billionaire
investor W...
Market News
BasePoint
Launches Unique Early Payment Default Solution to Reduce
Losses - Business Wire - 3 hours ago - CARLSBAD, Calif.--(BUSINESS
WIRE)--BasePoint Analytics, a leading provider of predictive
analytic fraud and risk management solutions, today announced
the availability of BasePoint EPD" alert. The new Early
Payment Default (EPD) solution is a statistica...
Best Places For Real Estate Deals - Forbes.com - Yesterday
- Home sales have sunk to their lowest levels since 2001.
Investors are jumping ship, foreclosures are mounting and
lenders are exercising caution. Still, there are areas of
the county where it makes sense for some to buy. That's
because, in a market slum...
Real Estate Weekly: Real Estate Weekly -- Oct. 5 - MarketWatch
- Oct 5 - Estate Weekly -- Oct. 5 - MarketWatch Real Estate
latest news
REAL ESTATE WEEKLY This week's Real Estate stories By
MarketWatch Last Update: 4:46 PM ET Oct 5, 007 This summer,
the corner of the country where home-improvement projects
ap...
Weakest U.S. Housing Markets - Forbes.com - Oct 5 -
How much longer can real estate in already depressed areas
decline in value? At least another year. In fact, it's reasonable
to expect 8% to 9% median home sale price decreases through
2008 in Detroit, Riverside, Calif., and Las Vegas, currently
the thr...
Countrywide, other benefactors of job fund lay off employees
- AOL.com - Oct 7 - AUSTIN, Texas (AP) - When Countrywide
Financial Corp. announced it was bringing 7,500 jobs to
Texas in a deal with Gov. Rick Perry's job-creation fund,
the governor proclaimed the company a 'crowning jewel' deserving
$20 million in taxpayer money. That...
Technology News
Cyberhomes.com:
Get School Data, Commute Times Before You Move - App
Scout - Oct 5 - Ziff Davis Home| Contact Us | Advertise
| Link to Us | Reprints | Magazine Subscriptions | Newsletters
| RSS Feeds | Tech Shop | Tech Encyclopedia | PC Downloads
| Tech Webcasts | Tech Podcasts | Tech Video | Ziff Davis
Media International 1UP| AppScout...
Calyx Software Updates WebCaster Web Site Service -
Business Wire - Oct 4 - Latest Version Includes New Design
Templates, Additional Loan Calculators SAN JOSE, Calif.--(BUSINESS
WIRE)--Calyx Software, the mortgage industrys leading provider
of loan marketing, originating and processing software,
announced the latest release of...
Other News
Lumber
mills feeling hit from slowdown in housing - Mass High
Tech - 6 hours ago - The U.S. housing market woes are taking
a toll on lumber production. For the first time since 2001,
Western lumber production declined in 2006, according to
production figures prepared by the Western Wood Products
Association. With housing starts droppi...
Real-Estate Agents Who Clean Your House and Run Errands
- Real Estate Journal - 9 hours ago - By June Fletcher
From Online Jonathan Marks makes his living as a real-estate
agent. Lately, he's been babysitting rats. With the housing
market in a dive and homes lingering unsold for months,
the relationship between real-estate agents and their clie...
Levitt & Sons leaving the Memphis housing market: Slowdown
clips big homebuilder - Mass High Tech - 6 hours ago
- Shelby County's second-largest homebuilder, of Tennessee
LLC, is leaving the market after parent company Levitt Corp.
made a decision to exit the state. Levitt entered the market
in 2004 by acquiring Memphis-based homebuilder Bowden Homes.
Levitt Corp....
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Newsdesk | Volume 2 | Issue 69 October 05, 2007
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Top Stories
House to vote on mortgage tax relief bill - CNN -
WASHINGTON (AP) -- House lawmakers are due to vote Thursday
on a bill that would allow homeowners to avoid paying
taxes on mortgage debt which gets forgiven as part of
a foreclosure or a modified loan. The bill by Rep. Charles
Rangel, D-N.Y., is expecte...
Stocks
slide ahead of jobs, earnings reports - USA Today -
Yesterday - Cars Event tickets Jobs Real estate Shop Online
degrees NEW YORK - Stocks extended their pullback Wednesday
as investors, retrenching from an optimistic stance early
in the week, awaited signs of how well corporate earnings
and the job market have held...
Mortgages:
U.S. mortgage rates drop as credit crunch begins to weigh
- MarketWatch - 59 minutes ago - Adjustable-rate mortgages
also trended down last week, with five-year Treasury-indexed
hybrid adjustable-rate mortgages averaging 6.11% for the
week, down from 6.15% last week. The ARM averaged 6.00%
a year ago.
Subprime
bailout backlash - CNN Money - 3 hours ago - Not everyone
favors helping troubled homeowners, lenders and investors
stung by the subprime crisis. NEW YORK (CNNMoney.com)
-- As the list of proposed remedies to the subprime crisis
has grown longer, the chorus against helping troubled
borrowers has g...
Market News
First
American makes buy in Florida - Los Angeles Business -
Oct 2 - A new owner has stepped in for Proxix Solutions,
and it's an owner who will relocate the geospatial services
provider to Texas. First American Corp. (NYSE: FAF) acquired
Proxix Solutions for an undisclosed amount Monday with plans
to integrate the compa...
Technology News
Listingbook
Works with Fort Myers MLS to Serve Buyers, Sellers; Opens
Area Office - Calibre Macro World - 39 minutes ago -
During the next two weeks, Listingbook will train hundreds
of real estate agents from the REALTOR(R) Association of
Greater Fort Myers and The Beach on the Listingbook system.
Listingbook's technology complements the Greater Fort Myers
group's multiple...
Is
Your Site Seen? - Commercial Investment Real Estate -
Oct 3 - These 10 tips can improve your companys visibility
online. As great a marketing tool as the Internet is, Web
sites that do not generate traffic may as well not exist.
To be effective marketing tools and income generators, Web
sites should promote not o...
Other News
Former
CB Richard Ellis Exec Pioneers Online Commercial Real Estate
Portal for Texas Residents - Calibre Macro World - 39
minutes ago - Wirta will be in Dallas on Oct 9th to launch
his first commercial real estate investment opportunity
located within the highly successful Firewheel area of Garland.
Real-Estate
Woes Help Apartment REITS - Real Estate Journal - 10
hours ago - By Alex Frangos From Online When the music stopped
in the residential-real-estate market, speculators who got
caught with unsold houses and condos began putting them
on the market as rentals. This 'shadow market' has made
investors jittery about price-...
How
to Get Proper Feedback - RIS Media - Oct 2 - RISMEDIA,
Oct. 2, 2007-Over the past year, sellers demand for feedback
on the showings of their homes has increased dramatically.
The change in the market has played a significant role in
this phenomenon. Two or three years ago when, in most areas,
home...
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Newsdesk | Volume 2 | Issue 67 September 28, 2007
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Top Stories
Senate grills credit raters | Agencies on the spot - CNN Money - Yesterday - NEW YORK (CNNMoney.com) -- Lawmakers grilled credit rating agency executives Wednesday about their role in the subprime mortgage meltdown, particularly their cozy relationship with issuers of some of the securities that soured during this summer's crisi...
Mortgage applications slide - USA Today - Yesterday - Cars Event tickets Jobs Real estate Shop Online degrees NEW YORK (Reuters) - Home loan applications slumped last week after climbing for three straight weeks, an industry group said Wednesday, as falling demand for home purchase loans overshadowed a fou...
KB Home Swings To Q3 Loss - Forbes.com - 31 minutes ago - Homebuilder KB Home swung to a loss in the third quarter and warned Thursday that the beleaguered housing market is likely to worsen next year. The Los Angeles-based company, one of the nation's biggest home sellers, reported a loss of $35.6 million, or...
Lennar Reports $514M Loss for Q3 - City Feet - Yesterday - Search for Miami Commercial Real Estate Wednesday, September 26, 2007 - MIAMI-With the housing market still reeling, locally based Lennar Corp. reported a $513.9-million loss, or $3.25 per diluted share, for the third quarter, in a conference call Tuesd...
New-Home Sales Tumble to 7-Year Low - Forbes.com - 39 minutes ago - New-homes sales tumbled in August to the lowest level in seven years, a stark sign that the credit crunch is aggravating an already painful housing slump. Sales of new homes dropped by 8.3 percent in August from July, the Commerce Department reported Th...
Mortgage rates jump - Fortune - 1 hour ago - NEW YORK (CNNMoney.com) -- Mortgage rates rose for the third consecutive week in a row, Freddie Mac reported Thursday. The government-sponsored loan buyer said the rate on a 30-year fixed-rate loan averaged 6.42 percent for the week ended Sept. 27, up f...
Market News
Title Insurance Task Force finishes evaluation and report - Office of the Insurance Commissioner - Sep 25 - OLYMPIA, Wash. The Title Insurance Review Task Force appointed earlier this year by Insurance Commissioner Mike Kreidler has completed a comprehensive evaluation of title insurance, how it works in real estate transactions and whether title insurance...
Fidelity National Real Estate Solutions Selects Pitney Bowes' Group 1 Software to Power Home Evaluation Website - Business Wire - Sep 25 - LANHAM, Md.--(BUSINESS WIRE)--Group 1 Software, Inc., a Pitney Bowes Company (NYSE:PBI), today announced that Fidelity National Real Estate Solutions (FNRES), a division of Fidelity National Financial, Inc. (NYSE:FNF), has selected Group 1 Softwares Geo...
New Bidders for Wendys Emerge - New York Times - 3 hours ago - Two new groups of bidders have emerged as Wendys International prepares to move into the second round of its sale process, according to press reports. The latest group to emerge includes Fidelity National Financial, a provider of title insurance that al...
Technology News
PropertyMaps.com Adds North Texas Region to Its Free Real Estate Search Site - Broker Agent News - Sep 25 - The free real estate Web site PropertyMaps.com makes real estate search in North Texas a breeze. (Sarasota, FL - September 20, 2007) - It's another check mark for real estate search site PropertyMaps.com, which has now added another region of the Lone...
Other News
Duke Realty to replace A.G. Edwards in S&P MidCap 400 - MarketWatch - Yesterday - Intraday data provided by Comstock, a division of Interactive Data Corp. and subject to terms of use. Historical and current end-of-day data provided by FT Interactive Data. More information on NASDAQ traded symbols and their current financial status. I...
