Georgia’s Crescent Bank and Trust largest of seven to fail
Number of US failures now expected to exceed last year’s total
More than 100 banks in the US have now collapsed so far this year after another seven were taken over by regulators late on Friday – the same day that seven European banks failed a financial [...]
Posts Tagged ‘mortgages’
Seven more US banks collapse on day of Europe’s stress tests
July 24th, 2010 by HardMoney Writer
Tags: debt crisis, European Central Bank, European economy, financial market, financial system, investors, mortgages, us bank central
more...Purchases of U.S. Existing Homes Fell in June
July 22nd, 2010 by HardMoney Writer
Sales of U.S. previously owned homes fell in June for a second month, adding to evidence the market will slump as the effects of a federal tax credit fade.
Purchases of existing houses dropped a less-than-forecast 5.1 percent to a 5.37 million annual rate, figures from the National Association of Realtors showed today in Washington. The [...]
Tags: chief economist, economic recovery, foreclosures, home sales, homebuilder, housing market, mortgages, tax credit, us unemployment
Homebuilder Confidence in U.S. Falls to One-Year Low
July 19th, 2010 by HardMoney Writer
Builders in the U.S. turned more pessimistic in July than forecast, a sign the expiration of a government tax credit will depress home construction.
The National Association of Home Builders/Wells Fargo confidence index dropped to 14 this month, the lowest level since April 2009, from 16 in June, data from the Washington- based group showed today. [...]
Tags: foreclosure, home sales, homebuilder, leading economist, lenders, mortgage lenders, mortgages, tax credit, us unemployment, Wells Fargo
Financial reform bill another win for Obama, but will the public care?
July 16th, 2010 by HardMoney Writer
Following the Recovery Act and health-care reform, the newly approved financial reform bill shows that President Obama is adept at getting his agenda through Congress. But the American public cares about one thing right now: the economy.
Passage of financial regulatory reform signals another landmark legislative victory for President Obama, following the Recovery Act and health-care [...]
Tags: credit markets, economy, Fannie Mae, financial reform, financial regulator, financial system, Freddie Mac, loans, mortgages, obama, taxpayers, U.S. consumer, wall street
Hard Money Lending Booms in Tough Economy
July 12th, 2010 by HardMoney Writer
Hard money lenders, where the downtrodden and desperate seek money are having a field day in the current tough economy, reaping huge profits from clients, most of whom are just trying to get by from day to day.
The real estate market has been hit hard and many conventional mortgage lenders, including nearly 400 banks and [...]
Tags: economy, Fannie Mae, Financial Markets, foreclosures, Freddie Mac, global economic, hard money lender, hard money lenders, Hard Money Loans, hard money news, investments, mortgage lenders, mortgage loan, mortgages, real estate, real estate market
Fed’s Lacker: Economy Is Recovering Despite Weak Data
July 9th, 2010 by HardMoney Writer
The recent spate of weaker economic data doesn’t mean the U.S. recovery is faltering, and the Federal Reserve continues to get closer to the time when it will need to raise interest rates, a top central bank official said Thursday.
“The economy is still growing,” Federal Reserve Bank of Richmond President Jeffrey Lacker told Dow Jones [...]
Tags: central bank, chief economist, Dow Jones Industrial, economic recovery, European economy, Federal Reserve, interest rates, mortgages, subprime mortgage, unemployment rate, US Economy
Mortgage Bonds Booming
July 2nd, 2010 by HardMoney Writer
Residential mortgage bonds, the center of the financial crisis not long ago, are once again darlings of the financial market.
Investors are seeking out mortgage bonds backed by the U.S. government as a safe haven from the tumult of the global economy, a reversal of fortune that has helped drive mortgage rates for consumers to record [...]
Tags: consumers, Fannie Mae, financial crisis, financial market, Freddie Mac, global economic, home sales, homeowners, housing market, investors, mortgage rates, mortgages
Stocks rise as concerns about Europe ease
May 12th, 2010 by HardMoney Writer
NEW YORK — Stocks opened higher Wednesday as investors considered whether a $1 trillion bailout package would be enough to fix the Euro zone’s long-term debt problems.
The Dow Jones industrial average (INDU) gained 45 points, or 0.4%, in the early going. The S&P 500 index (SPX) added 6 points, or 0.5%, and the Nasdaq composite [...]
Tags: Commodities, eurozone economic, global economic, investors, mortgages, stock market, US Economy
Fed’s steps to assistance banking arrangement raise risks, too
September 14th, 2009 by HardMoney Writer
The state Reserve’s brave steps to deter the banking pains from fatigued stay lifetime deem injected also dangers case the fiscal system.
Analysts further dominion officials care that the nation’s biggest banks commit hold office emboldened to resume big league risk-taking on the standpoint that the Fed will produce acknowledged - again - to dissuade them [...]
Tags: economy, hard money, loans, mortgages, obama
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