8 Articles match "2007","Credit","New York"

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• Subprime Market Sinking Further Into the Abyss
  
  The latest victim of its own success is New Century Financial Inc. which just last month was boasting an increase in loan production for January 2007 over numbers reported for the same month a year earlier. As a result, the lender’s stock on the New York Stock Exchange (Symbol = NEW) plummeted almost 70 percent. The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Back to Wait and See for the Fed
  
  percent back in August 2007 down to 2 percent last month, the Fed has decided to go back to the wait-and-see stance Chairman Ben Bernanke established when he first took over the reins of the agency back in August 2006. This move by the Fed is recognition of the fact that further increases in oil prices threaten the economy by pushing up prices in goods and services, according to the New York Times . The Federal Open Market Committee took the advice Wednesday of all the financial analysts and market watchers and did absolutely nothing with the short term Federal Funds Rate (FFR). After whittling away at the rate over time from a high of 5.25
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Rate Cut, Real GDP Are Some Positive News
  
  2007). More specifically, however, the Fed announcement highlighted a number of factors for its decision such as subdued household and business spending, soft labor markets, stressed out financial markets, tight credit conditions and the continuation of the housing contraction. percent during the first quarter of 2008, the same rate of increase as tracked for the fourth quarter 2007. One day after President Bush pointed the finger at Congress and told the American public to blame lawmakers for all of their recent financial woes, an inkling of actual positive news came out of Washington Wednesday with two announcements from government agencies.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosure "Megatrends"
  
  In a presidential year, Uncle Sam and politicians nationwide are rushing to unveil new and bolder schemes to unravel the foreclosure crisis. As federal, state and local government weighs in of the rising foreclosure mess, look for new plans to halt the foreclosure train wreck. Lawyers in California — for a fee, of course — will show you how to damage your credit history for a decade or more and “walk away” from your debt. Foreclosures are rising. Home prices are falling.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• High-End Foreclosures Rising Among Top Tier Homes
  
  High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind on their construction
  www.realtytrac.com - Tuesday, February 3, 2009
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• Long-Term Solution for Fannie and Freddie Dilemma
  
  billion direct line of credit with the U.S. The huge problems at Fannie Mae and Freddie Mac were supposed to be resolved with new management and revamped accounting, but no resolution could revolve a basic issue: Private mortgage buyers are always at a disadvantage when competing against Fannie Mae and Freddie Mac. If you believe in free markets and fair competition, the GSEs are a poke in the eye. "As long as Fannie and Freddies debt is backed by the full faith and credit of the U.S. Long-Term Solution for Fannie and Freddie Dilemma By Peter G. Miller 
  www.realtytrac.com - Tuesday, February 3, 2009
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• Don't Dump Investors
  
  See: From the New Deal, a Way Out of a Mess, The New York Times, Feb. Introducing the Hope Now program in 2007, President Bush said “weve got a role, the government has got a role to play — but it is limited. Theres no shortage of seminars, books and tapes which explain in glowing detail how you too can become rich with real estate, even if you lack experience, cash or credit. Don’t Dump Investors By Peter G. Miller    When it comes to bailing out giant banks, huge companies and massive stock brokerages theres no shortage
  www.realtytrac.com - Tuesday, February 3, 2009
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• No Mortgage Meltdown For These Banks
  
  Unlike virtually every other mortgage lender, Hudson doesn’t make option ARMs, doesn’t sell loans in the secondary market and doesn’t offer credit cards. told me, Hudson is really a “spread lender” that’s interested in two things: efficiency and credit quality. Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in
  www.realtytrac.com - Tuesday, February 3, 2009
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