DATA SNAP: UK June Mortgage Lending +GBP21.5B, Highest Ever (The Forex Market)
LONDON (Dow Jones)--U.K. mortgage lending surged to an all-time high in June, although the pickup was due to high levels of re-mortgaging activity, the British Bankers Association said Thursday....more...Mortgage group relocates to Hudson (The Nashua Telegraph)
HUDSON ? Maple Ridge Mortgage Services LLC of Nashua is moving to Hudson. Tinkham Realty Inc. has announced the sale of a 10,000 square foot office building at 225 Derry Road to the company. ......more... Alliance & Leicester Profit Falls 13% on Bad Loans (Update1) (Bloomberg.com)
July 27 (Bloomberg) -- Alliance & Leicester Plc, a U.K. commercial and consumer bank, said first-half profit declined 13 percent, missing estimates as bad loans increased. The company said lending at U.K. banks will slow in the second half....more... Asian Stocks Fall From Record on U.S. Economy; Kospi Advances (Bloomberg.com)
July 25 (Bloomberg) -- Asian stocks fell, led by Toyota Motor Corp. and Taiwan Semiconductor Manufacturing Co., after the largest U.S. mortgage lender said home-loan losses are increasing....more... Oxford Gains Subprime Bidding Authority (Business Wire via Yahoo! Finance)
HOUSTON----Oxford Funding has recently been given authority to bid directly with a top tier mortgage lender to purchase under performing subprime residential and commercial loans. Oxford Funding Corporation buys under performing subprime loans at significant discounts, and then rehabilitates them for sale at substantial margins....more... Subprime fallout touches commercial real estate (Las Cruces Sun-News)
As mentioned in prior articles, the subprime mortgage fallout is affecting all areas of real estate. Even commercial properties are being subjected to tightening underwriting standards. What does this imply?...more... Asian Stocks Fall From Record on U.S. Economy; Kospi Advances (Bloomberg.com)
July 25 (Bloomberg) -- Asian stocks fell, led by Toyota Motor Corp. and Taiwan Semiconductor Manufacturing Co., after lower-than-expected earnings from the largest U.S. mortgage lender fueled concern a housing slump is spreading....more... Asian Stocks Fall From Record on U.S. Housing Concern, Metals (Bloomberg.com)
July 25 (Bloomberg) -- Asian stocks fell, led by Toyota Motor Corp. and Samsung Electronics Co., after lower-than- expected earnings from the largest U.S. mortgage lender fueled concern a housing slump is spreading....more... U.S. existing home sales, loan applications fall (Reuters via Yahoo! News)
The pace of sales of U.S. existing homes fell in June to a four-and-a-half-year low and mortgage applications fell last week as grim news continues to shake the housing sector....more... |