Mortgage and Financial News From 2008-6-3 Page 9
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Bad debts at the Bradford & Bingley - BBC News
In the first few months of the year it has actually lost money, which is very unusual for a mortgage bank. And it is having to shore up its finances to the tune of £400m. But it is the lender's bad debt figures, located towards the back of its 11 ...
2008-06-02 06:03:00 -
Wachovia Forces Out Its Chief - New York Times
G. Kennedy Thompson spent 32 years building the Wachovia Corporation into one of the nation’s biggest banks. But late last Thursday, as problems at Wachovia continued to worsen, the company’s chairman gave Mr. Thompson the bad news: his career at ...
2008-06-03 07:27:00 -
B&B sounds alarm for buy-to-let lenders - International Herald Tribune
LONDON : A sudden rise in bad debts at Bradford & Bingley (B&B) has set alarm bells ringing in Britain's buy-to-let mortgage sector, even if most of the lender's troubles lie with poor loans it is buying from others. Monday's trading update from B&B ...
2008-06-03 08:32:00 -
ANALYSIS-Burned mortgage investors seek 'high-touch' healers - Forbes
NEW YORK (Reuters) - Mortgage investors, watching homeowners default on their loans in record numbers, are fighting back to limit the losses on their assets. Dire forecasts for the slump in the U.S. housing market have spurred investors to turn up ...
2008-06-03 09:08:00 -
U.S. Stocks Rise on Bernanke Outlook, Growth in Factory Orders - Bloomberg
June 3 (Bloomberg) -- U.S. stocks rose, rebounding from their biggest drop in a week, after Federal Reserve Chairman Ben S. Bernanke predicted the economy will grow without boosting inflation and factory orders unexpectedly increased. General ...
2008-06-03 08:25:00 -
FIDELITY INDEPENDENT ADVISER PUBLISHER DISCUSSES ECONOMY FOR SECOND ... - PR Inside
WILLIAMSTOWN, Massachusetts, JUNE 3-Donald R. Dion, Jr., the president and chief investment officer of Dion Money Management and publisher of The Fidelity Independent Adviser (www.fidelityadviser.com) , and Linda A. Duessel, the equity market ...
2008-06-03 08:46:00 -
Sector Snap: Homebuilders up after Toll's results - CNBC
NEW YORK - Housing stocks increased Tuesday after luxury homebuilder Toll Brothers Inc. reported its second-quarter loss beat Wall Street's expectations. Early Tuesday, Toll said it lost $93.7 million, or 59 cents per share, in the second quarter ...
2008-06-03 08:53:00 -
EU economy chief warns of tighter credit despite calmer financial ... - International Herald Tribune
LUXEMBOURG : The European economy is starting to see the evidence of tighter credit conditions as banks count the real cost of recent losses and become more cautious in lending out money, a senior EU official said Tuesday. Europe has so far avoided ...
2008-06-03 08:32:00 -
Fannie Mae Redemption - MSN MoneyCentral
WASHINGTON, June 3 /PRNewswire-FirstCall/ -- Fannie Mae FNM will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amounts ...
2008-06-03 05:54:00 -
U.S. Retail Sales Rise Less Than Forecast, ICSC Says (Update2) - Bloomberg
June 3 (Bloomberg) -- A retail industry group lowered its May sales estimate for the second time as gasoline prices continued to climb toward $4 a gallon. U.S. retailers' sales at stores open at least a year probably advanced 0.5 percent to 1.5 ...
2008-06-03 06:37:00 -
Stock futures up slightly before Bernanke speech - CNBC
NEW YORK - Wall Street headed for a modestly higher opening Tuesday as investors awaited a speech from Federal Reserve Chairman Ben Bernanke on the U.S. economy. Bernanke's speech out of Barcelona, Spain, is scheduled to begin at 9 a.m. Eastern time ...
2008-06-03 05:26:00 -
Stock futures up slightly as Bernanke speaks - Newsday
NEW YORK - Wall Street headed for a modest rebound Tuesday after Federal Reserve Chairman Ben Bernanke reiterated that he expects the economy to improve later this year. After the central bank's recent interest rate cuts, loans to banks and tax ...
2008-06-03 06:23:00 -
The buy-to-let boom goes bust - The Independent
The number of private lenders unable to keep up with their mortgage payments has jumped by 50 per cent, according to Bradford & Bingley The first signs of a collapse in Britain's buy-to-let property market emerged yesterday as Bradford & Bingley, the ...
2008-06-03 05:47:00 -
Bernanke Says Rates `Well Positioned' for Growth, Stable Prices (Bloomberg.com)
June 3 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said that interest rates are ``well positioned'' to promote growth and stable prices, and that policy makers are ``attentive'' to the impact of the falling dollar.
2008-06-03 06:28:41 -
Do Your Best to Prepare for the Worst (Business Wire via Yahoo! Finance)
BIRMINGHAM, Ala.----A disaster, such as a hurricane or tornado, can take a devastating toll on personal or business life. While ensuring physical safety and security is an important part of any disaster plan, keeping an up-to-date financial checklist can go a long way towards ensuring peace of mind once the storm clears.
2008-06-03 06:30:00