AP - Homebuilder Centex Corp. said Monday its fiscal fourth-quarter profit fell 49 percent due to a drop in home closings, in what the company called one of the most difficult housing markets in 25 years. Read More…
Reuters - Centex Corp. , the nfourth-largest U.S. home builder, on Monday reported a nwider-than-expected quarterly loss as it scrambled to deal with nthe real-estate slowdown by selling off land that was ndecreasing in value and exiting the sub-prime lending and ncommercial contracting businesses. Read More…
FT.com - Deutsche Bank (NYSE:DB) has joined the ranks of creditors and investors filing legal claims against New Century Financial (NYSE:NEW), the bankrupt US subprime mortgage lender. Read More…
Data released today from the National Association of Realtors reveals the shifting nature of the real estate market. The number of homes purchased as investment property fell sharply, down 28.9% to 1.65 million last year, from a record 2.32 million…n Read More…
Reuters - Subprime mortgage lenders created a surge nin delinquencies in the past year by repeatedly breaking their nown underwriting guidelines to capture business, analysts said non Monday. Read More…
AFP - US consumers limited spending growth in March amid a lingering housing market slump and high gasoline prices, even as their personal incomes remained robust, new government figures showed Monday. Read More…
In the spring of 2006, with reports of computer hacks, lost laptops, nand other precursors to identity theft increasing, President Bush nappointed an Identity Theft Task Force to investigate nthe problem and suggest solutions. nn Read More Nownn Read More…
Reuters - National City Corp. , a large nU.S. Midwest regional bank, on Monday said first-quarter profit nfell 30 percent, hurt by pressure in its mortgage operations nand rising credit losses. Read More…
FT.com - The housing market is showing signs of cooling, but consumers have entered the new tax year in a fairly upbeat mood, reports released on Monday showed. Read More…
Reuters - Commercial real estate investors and nexecutives believe private equity firms will continue buying up nlarge portfolios of properties over the next year, according to na survey released on Monday. Read More…