Impac Mortgage posts $2 bln loss in 2007 on credit woes (Reuters)
May 21, 2008
Reuters - Impac mortgage Holdings Inc , a struggling mortgage lender, said it lost $2.05 billion in 2007, largely because of mounting credit losses tied to higher delinquencies and defaults as the housing market slumped.
Meeting Minutes Say FOMC Doesn't Want to Ease Even if U.S. Growth Slows
May 21, 2008
In unusually explicit language, the minutes of the Federal
Open Market Committee’s (FOMC) April 29-30 meeting said the
decision to cut rates at the last meeting was “a close
call” and that policy-makers will be reluctant to further cut
rates even in the face of negative growth.
Hurricane Coverage May Also Fall Victim to Credit Crunch
May 21, 2008
The mortgage crisis has created yet another concern that could
directly impact homeowners and, strangely enough, it is Mother Nature.
A.M. Best Company, a full-service credit rating organization for the
financial industries has raised speculation that the credit
crunch may affect the ability of insurers and reinsurers to
cover claims resulting from coastal disasters.
Economy Is Slowing, But Fed Won't Likely Cut Rates Again
May 21, 2008
Stockhouse reports that the Fed is likely to stop lowering short-term interest rates, even though it lowered economic expectations.
Quizzle Is Fun, Declares Baltimore Sun
May 21, 2008
Baltimore Sun reporter Eileen Ambrose reviews the new Quicken Loans home budgeting and home finance tool, Quizzle. Ambrose calls it “fun,” and likes the free credit report and Quizzle score, analyzing your personal financial health.
Mortgage Activity Dips Natinowide In Latest Survey
May 21, 2008
For the week ending May 16, 2008, the Mortgage Bankers Association Weekly Mortgage Applications Survey report showed that overall mortgage application activity fell 7.8 percent.
Fed's Warsh Urges Policy Makers to Focus on Inflation
May 21, 2008
Kevin Warsh, a voting member of the Federal Reserve Board, signalled
concerns about inflation and said fellow Fed members need to be
cautious in cutting rates.
Interest Rates Still Moving Within a Narrow Range; Applications Down
May 21, 2008
Mortgage rates continued to move within a tight range
during the week ended May 15 according to results from Freddie Mac’s
Primary Mortgage Market Survey.
Wednesday's Events: FOMC Minutes, DOE Oil Inventories
May 21, 2008
Canadian CPI and the FOMC minutes are the highlights
of the North American economic events, but with crude oil surging to new
record highs on Wednesday morning, the Department of Energy’s weekly oil
inventories are not to be ignored.
MBA Mortgage Applications Fall 7.8% in Week Ending May 16
May 21, 2008
Weekly mortgage applications in the United States
fell in the week ending May 16, according to data from the Mortgage
Bankers’ Association (MBA) on Wednesday, which said applications declined
by 7.8% week-over-week.
Manhattan Up Close: Counting Classroom Seats in a Booming City
May 21, 2008
While class sizes in the city as a whole have dropped in recent years, they have risen in certain areas, in part because of a boom in residential development. IT’S BAT MAN TO YANKS’ RESCUE In A-god they trust. It is no surprise when you […]