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Delaware Mortgage and Bank News
Fannie bailout? Hold on a second (CNN Money)
The frenzied trading in shares of Fannie Mae and Freddie Mac seems to assume the government will soon ride to the rescue of the mortgage giants.
Wed, 20 Aug 2008 19:49:38 GMT.
American Home to pay fraction of bankruptcy claims (Washington Post)
NEW YORK (Reuters) - American Home Mortgage Investment Corp (AHMIQ.PK), which was among the largest U.S. home loan providers before seeking bankruptcy protection a year ago, said it will pay unsecured creditors no more than 5.9 cents on the dollar as it liquidates assets.
Wed, 20 Aug 2008 19:41:02 GMT.
American Home says unsecured creditors will get virtually nothing (International Herald Tribune)
Shareholders will get nothing, the failed mortgage lender told a bankruptcy court.
Tue, 19 Aug 2008 17:53:41 GMT.
Lenders to pay the price for 'liar loans' (The Philadelphia Inquirer)
In the mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and [no] assets."
Tue, 19 Aug 2008 07:37:55 GMT.
Fatal Crash Closes Route 13 In Delaware (NBC 10 Philadelphia)
A motorcyclist died after colliding with a minivan near Red Lion Road.
Mon, 18 Aug 2008 15:03:10 GMT.
M&T Bank shares slip on "Hold" rating (AP via Yahoo! Finance)
Shares of M&T Bank Corp. slipped Monday as a Lehman Brothers analyst reiterated a "Hold" rating on the shares, noting that losses tied to a mortgage lending business are expected to continue in the third quarter.
Tue, 19 Aug 2008 00:22:40 GMT.
Lenders One Enlists Web.com as New Preferred Partner (Business Wire via Yahoo! Finance)
ST. LOUIS----Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, announced that it has partnered with Web.com , a company specializing in online marketing services for small and medium-sized businesses, to provide Lenders One members with Web site design, local search marketing and search engine optimization.
Tue, 19 Aug 2008 12:00:00 GMT.
Inflation soars to 27-year high (The Columbus Dispatch)
As if we needed more evidence that tough times persist, a trifecta of government reports out yesterday showed that inflation is making almost everything cost more, fewer homes are being built and unemployment continues unabated in central Ohio.
Wed, 20 Aug 2008 10:16:36 GMT.
MDA To Combine DataQuick and MindBox with Lending Solutions (T-Net British Columbia)
Vancouver, BC, August 20, 2008--(T-Net)--MacDonald Dettwiler announced the integration of two of its U.S. businesses into the MDA Lending Solutions organization.
Wed, 20 Aug 2008 15:52:30 GMT.
CENTRAL NY BUSINESS NEWS (The Post-Standard)
? Pneumonia deaths high at 2 area hospitals Two Central New York hospitals have higher than average death rates for pneumonia patients, according to the federal government.
Wed, 20 Aug 2008 11:28:13 GMT.