Treasury Secretary Henry Paulson announced a new initiative under which major mortgage servicers, mortgage counselors, government officials and non-profit groups will coordinate their efforts to help struggling borrowers restructure their mortgage payments and stay in their homes.
Demand for applications to purchase US homes and refinance existing mortgages rose last week, after total loan requests fell the prior two weeks, an industry trade group said on Wednesday.
German insurer Allianz is sticking to its full-year earnings forecast despite the impact of a credit crisis that will weigh on the trading result at its Dresdner Bank unit in the third qarter, its finance chief told Boerse Online magazine.
Stocks ended higher after minutes from the Federal Reserve 's last meeting encouraged investors hoping for further rate cuts. "I don't think there is any question it's a good thing for stocks, it just reinforces the view from the investor's perspective that the Fed's there to save the day if necessary," said Michael Chren, portfolio manager at Allegiant Asset Management.
A loan from Citigroup would allow beleaguered British mortgage lender Northern Rock time to find a suitable investor, instead of nearly giving away its assets on a first come, first served basis, analysts said Monday.
People trying to sell their homes in Las Vegas -- one of America's hottest job and property markets over the past decade -- have seen their luck turn dramatically worse this year.
The $50 trillion market for credit default swaps is set to continue a five-year trend of breakneck growth and increasing sophistication after serving a vital role during the summer credit crisis.
As Oracle dashed around snapping up companies, SAP remained an aloof spectator. CEO Henning Kagermann insisted they would hold on to their number one spot in the business software market by growing organically. Today that policy has changed, and Kagermann is now chasing customers through acquisition.
Two major U.S. financial firms warned of more fallout from recent credit turmoil Friday, but resilience in the the jobs market bolstered investor sentiment.
Discussing leadership, motivation and career success with Jack Welch, former General Electric chairman & CEO.
Sickly credit markets and a worsening housing slump may force the Federal Reserve to cut interest rates again this month despite a less dire employment outlook.
Federal Reserve Vice Chairman Donald Kohn said Friday moderate growth should return to the U.S. economy after a period of weakness due to a prolonged housing slump and higher borrowing costs.
The global credit crisis is far from over and may come in waves, a source close to the Basel Committee on Banking Supervision said on Friday.
The U.S. Attorney's office in Brooklyn has begun examining the circumstances behind the implosion of two Bear Stearns subprime hedge funds, CNBC has learned.
Bear Stearns is seeing money return to the financial markets as fear created by this summer's credit crunch begins to ease, the firm's president said Thursday.
Citigroup is in talks with private equity firm Kohlberg Kravis Roberts on funding for the purchase of some of the leveraged loans on its balance sheet, the Financial Times reported on its Web site.
H&R Block the largest U.S. tax preparer, said on Wednesday bank lines at its Option One Mortgage Corp lending unit were terminated or reduced, as the subprime mortgage company reduces it lending volume.
Stocks ended lower on Wednesday as strong manufacturing data released this morning offset broad declines in the tech sector. "From a technical perspective, seeing this kind of pullback is not bad, you want to see consolidation and see some base build," said Sean Brodrick, senior commodities analyst at MoneyandMarkets.com.
Bear Stearns said on Wednesday it was cutting 310 jobs in its mortgage origination businesses as part of a reorganization of its mortgage operations.
Hard to say what the Dow really represents as a proxy for broader markets - but the S&P is not far from its all time high and that should send a clear enough signal that these equity markets want to go higher. The technicians like the longer term trend lines and so far there is no hint that we retest the August lows.