Editorial Results (free)
1. Home… Free?
- Thursday, October 15, 2015
Ray’s Take Wikipedia defines a mortgage-burning party as a 20th-century American custom that is the ritual burning of a paid-off mortgage document by homeowners often including a party in which extended family and friends are invited to celebrate.
2. Local Business Executives Upbeat as 2015 Gets Underway
- Tuesday, February 03, 2015
The latest Memphis Economic Indicator, a quarterly survey measuring general business sentiment, presented something of an upbeat trend in sentiment to kick off 2015.
The survey, which includes a set of six questions, asks participants to consider via a number scale, from positive to negative, how optimistic they are about the coming quarter.
3. Make Sure You Really Have Closure at Closing
- Saturday, January 24, 2015
The closing attorney is the final piece of the puzzle in a real estate transaction – and the most important. If the closing attorney fails in that role, the transaction might not occur, even if both parties – buyer and seller alike – sign every document.
4. Downside of Low US Mortgage Rates: Less Selling
- Monday, July 14, 2014
WASHINGTON (AP) — Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell.
5. Many Seek New Homes Near Cities But are Priced Out
- Thursday, June 12, 2014
WASHINGTON (AP) – City living has been a blessing for Tim Nelson.
The Phoenix lawyer moved downtown a few months ago into a new $389,000 home with a warehouse-style floor plan, a Jacuzzi tub and kitchen counters made of Caesarstone quartz. His favorite coffee spot is three blocks away. When the Arizona Diamondbacks play on Friday nights, he can watch postgame fireworks from his deck.
6. Boyle Celebrates 80 Years, Sponsors Art Exhibit
- Monday, March 18, 2013
Boyle Investment Co. turns 80 this year, and has partnered with the Memphis Brooks Museum of Art to celebrate.
7. Morgan Stanley Facing Discrimination Lawsuit
- Tuesday, October 16, 2012
NEW YORK (AP) – Morgan Stanley is being accused of discriminating against black homeowners and violating federal civil rights laws by providing strong incentives to a subprime lender to originate mortgages that were likely to go unrepaid.
8. Most Americans Say the Rich Don't Pay Enough Taxes
- Tuesday, August 28, 2012
WASHINGTON (AP) – As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are paying too little in taxes, according to a new survey.
9. US Homebuilder Confidence at 5-Year-High in August
- Thursday, August 16, 2012
LOS ANGELES (AP) – U.S. homebuilders grew more confident in the housing recovery in August, as many reported that prospects for sales are the best they've been since the home bubble burst five years ago.
10. US Economic Recovery is Weakest Since World War II
- Thursday, August 16, 2012
WASHINGTON (AP) – The recession that ended three years ago this summer has been followed by the feeblest economic recovery since the Great Depression.
Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years. An Associated Press analysis shows that by just about any measure, the one that began in June 2009 is the weakest.
11. US Housing Starts Rise Modestly to Start New Year
- Friday, February 17, 2012
WASHINGTON (AP) – Construction of single-family homes in the U.S. cooled off slightly in January after surging in the final month last year. But a rise in permits suggests builders are growing more confident that more buyers are ready to come off the sidelines.
12. Rate on 30-Year Mortgage Stays at Record 3.87 Pct.
- Friday, February 17, 2012
WASHINGTON (AP) – The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance.
13. Rate on 30-Year Mortgage Stays at Record 3.87 Pct.
- Friday, February 10, 2012
WASHINGTON (AP) – The average rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance.
Mortgage buyer Freddie Mac said Thursday the rate on the 30-year loan was unchanged at 3.87 percent. That's the lowest level on records dating back to the 1950s.
14. Rate on 30-Year Mortgage Falls to Record 3.87 Pct.
- Friday, February 03, 2012
WASHINGTON (AP) – The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
15. New-Home Purchases Fall, 2011 Worst Ever for Sales
- Friday, January 27, 2012
WASHINGTON (AP) – Fewer Americans bought new homes in December. The decline made 2011 the worst year for new-home sales on records dating back nearly half a century.
The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.
16. Poor Year for Home Building Ends on Hopeful Note
- Friday, January 20, 2012
WASHINGTON (AP) – Builders ended 2011 with a third straight year of dismal home construction and the worst on record for single-family home building. But improvement at the end of the year lifted hopes for an eventual recovery.
17. Rate on 30-Year Mortgage Down to Record 3.88 Pct.
- Friday, January 20, 2012
WASHINGTON (AP) – The average rate on the 30-year fixed mortgage fell again this week to a record low. The eighth record low in a year is attracting few takers because most who can afford to buy or refinance have already done so.
18. Rate on 30-Year Mortgage Drops to Record 3.89 Pct.
- Friday, January 13, 2012
WASHINGTON (AP) – Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the historic rates.
19. Fixed Mtg. Rates End Year Above Record Lows
- Friday, December 30, 2011
WASHINGTON (AP) – Fixed mortgage rates rose slightly this week off their record lows. The year ends much like it began, with few people able to take advantage of the best rates in history.
20. Rise in Home Building Suggests Industry Turnaround
- Wednesday, December 21, 2011
WASHINGTON (AP) – A surge in apartment construction gave home builders more work in November. And permits, a gauge of future construction, rose largely because of a jump in apartment permits.
21. US Homebuilders Less Gloomy Despite Few Buyers
- Tuesday, December 20, 2011
WASHINGTON (AP) – Rising interest from would-be buyers is leaving U.S. homebuilders less pessimistic about the housing market. But tighter lending standards are still keeping many potential buyers from purchasing new homes.
22. Survey: Home Prices Down in Most Major US Cities
- Wednesday, November 30, 2011
WASHINGTON (AP) – U.S. home prices are falling again in most major cities after posting small gains over the summer and spring. The report suggests the troubled housing market remains weak and won't recover any time soon.
23. Sales of New Homes Up in October, But Prices Fall
- Tuesday, November 29, 2011
WASHINGTON (AP) – Americans bought slightly more new homes in October, a hopeful sign for the troubled housing market. But the median sales price fell to its lowest level of the year, and the overall sales pace is trailing last year's – the worst in half a century.
24. US Housing Starts Down Slightly in October
- Friday, November 18, 2011
WASHINGTON (AP) – U.S. builders started slightly fewer homes in October but submitted plans for a wave of apartments, a mixed sign for the struggling housing market.
Builders broke ground on a seasonally adjusted annual rate of 628,000 homes last month, the Commerce Department said Thursday. That's roughly half the 1.2 million that economists equate with a healthy housing market.
25. US Homebuilders Feel Less Pessimistic in November
- Thursday, November 17, 2011
WASHINGTON (AP) – U.S. homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon.
The National Association of Home Builders said Wednesday that its builder sentiment index rose to 20 in November. That's the highest level since May 2010 and only the second month the index has been at 20 or above in two years. The trade group cited low mortgage rates as a chief factor.
26. US Wealth Gap Between Young and Old is Widest Ever
- Tuesday, November 08, 2011
WASHINGTON (AP) – The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt.
27. US Builders Spent Slightly More in September
- Wednesday, November 02, 2011
WASHINGTON (AP) – U.S. builders spent slightly more in September on home construction, partially offsetting losses in public schools, roads and government offices.
Construction spending rose 0.2 percent in September from August to a seasonally adjusted annual rate of $787.2 billion, the Commerce Department said Tuesday. It was the second straight monthly increase.
28. Somerset Park Apartments Sell for $1.1 Million
- Tuesday, November 01, 2011
3425 Winchester Park Drive
Memphis, TN 38118
Sale Amount: $1.1 Million
29. Survey: Home Prices Up in Half of Major US Cities
- Wednesday, October 26, 2011
WASHINGTON (AP) — Home prices rose in August in half of major cities measured by a private survey, a sign that prices are stabilizing in some hard-hit portions of the country.
The Standard & Poor's/Case-Shiller index showed Tuesday that prices increased in August from July in 10 of the 20 cities tracked. That marked the fifth straight month that at least half of the cities in the survey showed monthly gains.
30. Rate on 30-Year Fixed Mortgage Falls to 4.11 Pct.
- Friday, October 21, 2011
WASHINGTON (AP) – The average rate on the 30-year fixed mortgage was nearly unchanged this week after rising sharply last week.
Freddie Mac said Thursday that the rate on the 30-year loan edged down to 4.11 percent from 4.12 percent last week. The week before, it fell to 3.94 percent. That's the lowest rate ever, according to the National Bureau of Economic Research.
31. Rate on 30-Year Fixed Mortgage Rises to 4.12 Pct.
- Friday, October 14, 2011
WASHINGTON (AP) – The average rate on the 30-year fixed mortgage rose sharply this week after falling below 4 percent for the first time in history.
Freddie Mac said Thursday that the rate on the 30-year fixed loan rose to 4.12 percent. That's up from 3.94 percent last week, the lowest rate ever according to the National Bureau of Economic Research.
32. New-Home Sales Fell in August for 4th Month
- Tuesday, September 27, 2011
WASHINGTON (AP) – Sales of new homes fell to a six-month low in August. The fourth straight monthly decline during the peak buying season suggests the housing market is years away from a recovery.
33. Rate on 30-Year Mortgage Falls to Record 4.09 Pct.
- Friday, September 16, 2011
WASHINGTON (AP) – Fixed mortgage rates fell to the lowest level in six decades for the second straight week. But few Americans can take advantage of the historically low rates.
Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage fell to 4.09 percent this week, down from 4.12 percent. That's the lowest rate seen since 1951.
34. 30-Year Mortgage Falls to 4.12 Pct., Record Low
- Friday, September 09, 2011
WASHINGTON (AP) – Fixed mortgage rates fell this week to the lowest levels in six decades. But few Americans can take advantage of the rates to refinance or buy a home.
The average rate for the 30-year fixed mortgage fell to 4.12 percent, down from 4.22 percent, Freddie Mac said Thursday. It's the lowest level on records dating back to 1971. Freddie Mac said the last time rates were cheaper was 1951, when most long-term home loans lasted just 20 or 25 years.
35. U.S. New-Home Sales Fall, 2011 Could be Worst Year Yet
- Wednesday, August 24, 2011
WASHINGTON (AP) – Sales of new homes fell for the third straight month in July, a sign that housing remains a drag on the economy. If the current pace continues, 2011 would be the worst year for new-home sales in nearly half a century.
36. US Home Builders Remain Pessimistic in August
- Tuesday, August 16, 2011
WASHINGTON (AP) – U.S. homebuilders are just as pessimistic about the depressed housing market as they were two years ago.
The National Association of Home Builders said Monday that its index of builder sentiment in August was unchanged at 15. The index has been below 20 for all but one month during the past two years.
37. Mortgage Rates Fall Again, 30-Year Near Record Low
- Friday, August 12, 2011
WASHINGTON (AP) – Fixed mortgage rates fell to at or near record lows. That's good news for the few who can afford to buy a home or are able to refinance. But the rates have done little to lift the ailing housing market.
38. Construction Spending Rises 0.2 Percent
- Tuesday, August 02, 2011
WASHINGTON (AP) – U.S. builders began work on more office buildings, shopping centers and hotels in June, pushing construction spending higher for a third straight month. But even with the gains, activity remains at depressed levels.
39. Layoffs, Housing Data Point to Chronic Problems
- Friday, June 24, 2011
WASHINGTON (AP) – Sour reports Thursday on the number of people who sought unemployment benefits and buyers of new homes illustrate what Federal Reserve Chairman Ben Bernanke acknowledged Wednesday: Many factors weighing on the economy are proving to be more chronic than first imagined.
40. Homebuilders Missing Out on Economic Recovery
- Wednesday, May 18, 2011
WASHINGTON (AP) – For homebuilders, it hardly feels like an economic recovery. Nearly two years after the recession ended, the pace of construction is inching along at less than half the level considered healthy. Single-family home building, the bulk of the market, has dropped 11 percent in that time.
41. New-Home Construction Increases 7.2 Pct. in March
- Wednesday, April 20, 2011
WASHINGTON (AP) – Builders broke ground on more new homes last month, giving the weak housing market a slight boost at the start of the spring buying season.
Home construction rose 7.2 percent in March from February to a seasonally adjusted 549,000 units, the Commerce Department said Tuesday. Building permits, an indicator of future construction, rose 11.2 percent after hitting a five-decade low in February.
42. Home Preservation Workshop on Saturday
- Monday, April 04, 2011
A home preservation event is slated for April 9 to help families avoid foreclosure.
The workshop is being presented by Shelby County Trustee David Lenoir, the Memphis alumnae chapter of Delta Sigma Theta Sorority Inc. and Southwest Tennessee Community College.
43. Home Prices Falling in Most Major US Cities
- Wednesday, March 30, 2011
NEW YORK (AP) – Home prices are falling in most major U.S. cities, and the average prices in four of them are at their lowest point in 11 years. Analysts expect further prices declines in most cities in the coming months.
44. More People Signed Contracts to Buy Homes in Feb.
- Tuesday, March 29, 2011
WASHINGTON (AP) – More Americans signed contracts to buy homes in February, but sales were uneven across the country and not enough to signal a rebound in the housing market.
Sales agreements for homes rose 2.1 percent last month to a reading of 90.8, according to the National Association of Realtors' pending home sales index released Monday. Sales rose in every region but the Northeast.
45. Rate on 30-Year Fixed Mortgage Rises to 4.81 Pct.
- Friday, March 25, 2011
NEW YORK (AP) – Fixed mortgage rates edged up this week, but even 30-year rates below 5 percent have done little to boost home sales.
Freddie Mac said Thursday the average rate on the 30-year fixed mortgage rose to 4.81 percent from 4.76 percent the previous week. It hit a 40-year low of 4.17 percent in November.
46. New-Home Construction Plunges in February
- Thursday, March 17, 2011
WASHINGTON (AP) – Builders broke ground last month on the fewest homes in nearly two years and cut their requests for permits to start new projects to a five-decade low. The decline in construction activity is the latest evidence that the housing industry is years away from a recovery.
47. Dim Homebuilder Outlook Improves Slightly
- Wednesday, March 16, 2011
WASHINGTON (AP) — Homebuilders' pessimistic outlook improved slightly this month, but it remains dim amid falling home prices and a weak pace of construction.
The National Association of Home Builders said Tuesday that its index of industry sentiment for March improved slightly to 17. That's the first gain in five months, after four straight readings of 16. Any reading below 50 indicates negative sentiment about the market. The index hasn't been above that level since April 2006.
48. Good Deals on New Homes to be Had This Spring
- Wednesday, March 09, 2011
LOS ANGELES (AP) – The spring home-selling season is under way, and homebuyers have more leverage this year to get price discounts and other perks on new homes than in years past.
It's the busiest time for homebuilders, which means they are under less pressure to lower prices. They typically reserve the best bargains for the fall, when they look to thin their slate of unsold homes.
49. New-Home Sales in January Drop 12.6 Pct
- Friday, February 25, 2011
WASHINGTON (AP) — Sales of new homes fell significantly in January, a dismal sign after the worst year for that sector in nearly a half-century.
New-home sales dropped to a seasonally adjusted rate of 284,000 homes last month, the Commerce Department said Thursday. That's down from 325,000 in December and less than half the 600,000-a-year pace that economists view as healthy.
50. Homebuilders Have Grim View of Housing Market
- Wednesday, February 16, 2011
WASHINGTON (AP) – Homebuilders have yet to see a turnaround in the housing market after the worst year for new-home sales in a half-century.
The National Association of Home Builders said Tuesday that its index of builder sentiment for February remained unchanged for the fourth straight month at 16. Any reading below 50 indicates negative sentiment about the market. The index hasn't been above that level since April 2006.
51. Shifting Gears
- Monday, February 07, 2011
Memphis has long been a real estate town.
Family names like Belz, Boyle, Clark, Fogelman, Loeb, Snowden and Wilkinson – to name a few – have become synonymous not only with local commercial and industrial development but also with the city’s business fortunes and cultural identity.
52. May Home Sales Dip as Housing Market Struggles
- Wednesday, June 23, 2010
WASHINGTON (AP) — The housing market may be on the verge of taking another plunge that could weaken the broader economic recovery.
Sales of previously occupied homes dipped in May, even though buyers could receive government tax credits. And nearly a third of sales in May were from foreclosures or other distressed properties. That means home prices could soon be heading down after stabilizing over the past year.
53. Home Sales Surge in Southern Cities
- Friday, April 23, 2010
MIAMI (AP) - March home sales climbed nearly 19 percent in the South as buyers scrambled to claim federal tax credits and take advantage of affordable prices.
There were 160,000 sales of previously occupied homes last month in the South, which also saw prices increase more than 5 percent to $154,800, the National Association of Realtors said Thursday. The last time prices rose in the South on a year-over-year basis was June 2008.
54. New Home Sales Drop 11 Percent in January, New Low
- Thursday, February 25, 2010
WASHINGTON (AP) - Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
55. Housing Slump Won’t Hinder MAAR Centennial
- Tuesday, February 16, 2010
As a head of the local trade organization for real estate professionals for 26 years, Jules Wade has seen plenty of ups and downs in the industry.
Wade, who joined the Memphis Area Association of Realtors in 1981 and became its executive vice president in 1984, understands the cyclical nature of the industry.
56. SEC Accuses 3 Ex-New Century Execs of Fraud
- Tuesday, December 08, 2009
WASHINGTON (AP) – Federal regulators on Monday accused three former top executives of collapsed mortgage lender New Century Financial Corp. of fraud, saying they misled investors as the company's subprime loan business was failing in 2006.
57. US Thrifts Earn $4M in Q2
- Thursday, August 27, 2009
WASHINGTON (AP) – U.S. thrifts eked out a $4 million profit in the second quarter, but the number of troubled institutions continued to rise, the government reported Wednesday.
The Office of Thrift Supervision said the small profit in the April-June period marked the industry's first positive earnings since the third quarter of 2007. It compared to a loss of $5.4 billion in the year-ago period, and $1.62 billion in the first quarter of this year.
58. Obama Spells Out Major Financial Rules Overhaul
- Thursday, June 18, 2009
WASHINGTON (AP) - President Barack Obama proposed sweeping new "rules of the road" for the nation's financial system Wednesday, casting the changes as a critically important response to the economic crisis and the greatest regulatory transformation since the Great Depression.
59. US Economy Sinks at 5.7 Percent Pace in Q1
- Monday, June 01, 2009
WASHINGTON (AP) – The U.S. economy declined at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year.
However, many analysts say activity isn’t shrinking nearly as much now as the downturn flashes signs of letting up.
60. BancorpSouth Eludes Economic Snares
- Monday, May 04, 2009
Not every bank these days is confronted with sagging or nonexistent profitability, a souring loan portfolio and relying on Uncle Sam’s charity.
Tupelo, Miss.-based BancorpSouth Inc. almost doubled its net income in the first quarter compared to the end of 2008. The 133-year-old regional bank, which operates a handful of branches in Memphis, saw a pickup in its mortgage business and is one of the few in the area taxpayer money isn’t supporting.
61. Fed Sees Signs Recession May be Easing
- Thursday, April 30, 2009
WASHINGTON (AP) - The Federal Reserve said Wednesday it sees signs the recession is easing and that the economic outlook has "improved modestly" since last month.
Against that backdrop, Fed Chairman Ben Bernanke and his colleagues left a key interest rate at a record low of between zero and 0.25 percent, and decided against taking any new steps to shore up the economy.
62. Fed to Weigh Options To Revive Economy
- Tuesday, April 28, 2009
WASHINGTON (AP) – As the recession grinds on, Federal Reserve policymakers will open a two-day meeting today to make a fresh assessment of economic conditions, review the effectiveness of programs in place and weigh whether they need to expand or change them.
63. Fed to Buy Up to $300B Long-Term Treasury Bonds
- Thursday, March 19, 2009
WASHINGTON (AP) - The Federal Reserve announced Wednesday it will spend up to $300 billion over the next six months to buy long-term government bonds, a new step aimed at lifting the country out of recession by lowering rates on mortgages and other consumer debt.
64. With Key Rate Near Zero, Fed Scopes Out Options
- Thursday, March 19, 2009
WASHINGTON (AP) - With a key interest rate already near zero, Federal Reserve policymakers are weighing what other tools they can use to jolt the country out of recession.
Fed Chairman Ben Bernanke and his colleagues resume their two-day meeting Wednesday, and at its conclusion they are all but certain to leave a key bank lending rate at a record low to try to bolster the economy, which has been stuck in a recession since December 2007.
65. Obama Defends Tackling Many Problems at Same Time
- Wednesday, March 18, 2009
WASHINGTON (AP) - President Barack Obama pushed back Tuesday against criticism that he's trying to take on too many issues at once, defending a $3.6 trillion budget that seeks to shore up the economy while also overhauling health care, energy and education.
66. Bernanke Says Regulatory Overhaul Needed
- Wednesday, March 11, 2009
WASHINGTON (AP) - The nation's financial rule book must be rewritten to prevent a repeat of the global economic crisis now gripping the United States and other countries, Federal Reserve Chairman Ben Bernanke said Tuesday.
67. No Pink Slips for Bailed-Out Bank Execs
- Wednesday, January 28, 2009
WASHINGTON (AP) – They’ve been bailed out, but not kicked out.
At banks receiving federal bailout money, nearly nine out of every 10 of the most senior executives from 2006 are still on the job, according to an Associated Press analysis of regulatory and company documents.
68. Obama Will Broaden Bailout Spending
- Tuesday, January 13, 2009
WASHINGTON (AP) - President-elect Barack Obama's top economic adviser told congressional leaders Monday that the incoming president would broaden goals for using the remaining $350 billion financial bailout and insure transparency and oversight.
69. Economy Declined 0.5 Percent in Third Quarter
- Friday, December 26, 2008
WASHINGTON (AP) - As the longest recession in a quarter century intensifies, analysts believe the small decline in economic activity in the third quarter has worsened significantly in the current fourth quarter.
70. Newspapers to Sell Buildings, But Who's Buying?
- Wednesday, December 24, 2008
NEW YORK (AP) - With revenue plunging as readers and advertisers flee to the Web, many newspaper companies have turned to selling off their buildings to raise money or save on costs. But now that option may be drying up too, as frozen credit markets make commercial real estate deals scarce.
71. Car, Home Buyers Could Benefit from Fed Rate Cut
- Thursday, December 18, 2008
WASHINGTON (AP) - Consumers trying to buy a house or finance a car loan could be the big winners as a result of the Federal Reserve's decision to slash its target interest rate to nearly zero and take other steps to battle the financial crisis and worsening recession.
72. Fed Considers Ways To Keep Economy Afloat
- Wednesday, December 17, 2008
WASHINGTON (AP) – With the recession dragging down consumer prices and home construction, the Federal Reserve on Tuesday slashed a key interest rate to an all-time low in a desperate bid to stem the country’s economic slide.
73. SEC Adopts New Rules for Credit-Rating Agencies
- Thursday, December 04, 2008
WASHINGTON (AP) - Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street's credit-rating industry, widely faulted for its role in the subprime mortgage debacle and ensuing credit crisis.
74. Bernanke: Lower Interest Rates are "Feasible"
- Tuesday, December 02, 2008
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year.
75. Government Announces New Loan Programs
- Wednesday, November 26, 2008
WASHINGTON (AP) – The federal government, still struggling to manage a severe financial crisis, unveiled two new programs Tuesday that will provide $800 billion to try to help unfreeze the market for consumer debt from home mortgages to credit cards.
76. Greenspan Denies Blame for US Crisis, Admits Flaw
- Wednesday, November 05, 2008
WASHINGTON (AP) – Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation's economic crisis was his fault but conceded on Thursday that the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a "state of shocked disbelief."
77. Bernanke Explores Options for Housing Finance
- Monday, November 03, 2008
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke said Friday that the housing finance system being constructed following the collapse of the current system will need better safeguards to allow it to function during times of stress.
78. US Devising Home Refinance Aid Plan
- Friday, October 24, 2008
WASHINGTON (AP) – U.S. government regulators told Congress Thursday they are working on a plan that could help many distressed homeowners escape foreclosure in a global financial crisis that former Federal Reserve Chairman Alan Greenspan warned will get worse before it gets better.
79. IMF: World Economy to Slow Sharply, Led By US
- Thursday, October 09, 2008
WASHINGTON (AP) – The world economy will slow sharply this year and next, with the United States likely sliding into recession reflecting mounting damage from the most dangerous financial jolt in more than a half-century.
80. Consumer Prices Surge, Job Market Remains Strained
- Monday, August 18, 2008
WASHINGTON (AP) - Inflation is running at the fastest pace in 17 years, the job market is under further strain and foreclosure filings are surging.
A raft of gloomy economic data on Thursday represented a setback for those hoping to see signs of better times ahead and it may keep the Federal Reserve jammed between rising inflation and slowing growth.
81. AP Source: Grand Jury Investigating Lenders
- Friday, July 25, 2008
LOS ANGELES (AP) - A federal grand jury is investigating mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Bancorp Inc., a person familiar with the situation told The Associated Press on Thursday.
82. Credit Crunch Crimps Commercial Development
- Wednesday, July 23, 2008
With a vision of transforming downtown Seattle, the Clise family spent more than a century buying up key pieces of land. But the credit chaos has forced Al Clise to postpone his plans for a grand, 13-acre commercial and residential development.
83. Some Fed Policymakers Worried About 'Prolonged and Severe' Economic Downturn
- Thursday, April 10, 2008
WASHINGTON (AP) - Worries about a deep recession - not a shallow one - drove Federal Reserve policymakers to slash a key interest rate last month, meeting minutes show.
Even as the Fed battled in almost unprecedented fashion to stem a widening credit and housing slump, some members fretted over the possibility of a "prolonged and severe" economic downturn. It was in that environment that they voted - with two dissents - to cut its most important interest rate by three-quarters of a percentage point to 2.25 percent. That action capped the most aggressive Fed intervention in a quarter-century.
84. Housing Fallout Continues
- Monday, February 18, 2008
New data show 2007 was the worst year for new housing permits and home closings in Shelby County since the early 1980s, adding to the well-documented housing woes that stemmed from last year's subprime fallout and credit crunch.
85. FBI Investigating 14 Companies For Possible Subprime Fraud
- Thursday, January 31, 2008
WASHINGTON (AP) - The FBI on Tuesday said it is investigating 14 companies for possible accounting fraud, insider trading or other violations in connection with home loans made to risky borrowers.
86. Homebuilders Reconsider Wooing Buyers With Price Cuts on Fears of Downward Spiral
- Monday, November 19, 2007
NEW YORK (Dow Jones/AP) - When freebies like granite countertops and no-cost closings didn't woo back buyers, homebuilders began trying to outdo one another with bigger and better price cuts.
87. Bad Credit Bigger RiskThan Terrorism, Group Says
- Tuesday, August 28, 2007
Bad credit has supplanted terrorism as the gravest immediate risk threatening the economy, a key national research group reported Monday.
Borrowers' withering ability to pay their bills
88. American Home Mortgage: Insurers and Escrow Agents are Impeding Sales
- Friday, August 24, 2007
WASHINGTON (Dow Jones/AP) - American Home Mortgage Investment Corp. says insurance companies and escrow agents "unfamiliar" with bankruptcy law are impeding its efforts to sell foreclosed properties.
89. Amid Market Crisis, Some Mortgage Lenders Go Into Hibernation and Hope to Survive
- Thursday, August 23, 2007
NEW YORK (AP) - As the mortgage shakeout forces dozens of home lenders into bankruptcy, some are merely going into something like suspended animation - shutting down temporarily and hoping to escape intact once the crisis has run its course.
90. Attorneys Employ Creative Methods To Stem Foreclosures
- Tuesday, August 14, 2007
WASHINGTON (Dow Jones/AP) - A bankruptcy filing alone may not be enough to help homeowners stave off a foreclosure for good, but it does buy attorneys like O. Max Gardner III time to come up with creative ways to help them keep their homes.
91. American Home Mortgage Files For Bankruptcy Protection
- Tuesday, August 07, 2007
NEW YORK (AP) - American Home Mortgage Corp. filed for bankruptcy protection on Monday, the latest casualty of a mortgage industry that has plunged into distress.
The Melville, N.Y.-based company's request for Chapter 11 bankruptcy protection - filed in bankruptcy court in Wilmington, Del. - caps a tumultuous 10 days for what was in 2006 the nation's 10th-biggest home lender.
92. News Analysis: Nobody Should Act Surprised by the Housing Market Collapse
- Monday, July 30, 2007
NEW YORK (AP) - Century 21 Real Estate's CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a "pity party" is gripping the housing industry right now.
Many recent home buyers are expressing shock that their properties may be worth a lot less than when they bought them. CEOs like Countrywide Financial Corp.'s Angelo Mozilo are claiming that "nobody saw" the deterioration of real estate values coming, and are pointing fingers at others for causing this mess. And Wall Street seems to only now be waking up to the implications of mortgage securities imploding.
93. Archived Article
- Tuesday, March 13, 2007
33 Humphrey Center Drive
Memphis, TN 38120
Sale Amount: $8.9 million
Sale Date: Feb. 8, 2007
Buyer: W2005 New Century Hotel Portfolio LP
94. Kobernus Joins MAAR As Governmental Affairs Director
- Wednesday, August 02, 2006
Aubrie Rhodes Kobernus has joined Memphis Area Association of Realtors (MAAR) as governmental affairs director. Kobernus received a master's degree in business administration from George Washington University in Washington, D.C., in May 2006. While pursuing her degree, she interned with NeighborWorks America and New Century Financial Corp., focusing on the mortgage and housing industry.
95. Archived Article: Lead
- Thursday, March 10, 2005
By Andy Meek
Tipton Housing Market Remains Steady
County sees growth as more residents cross Shelby border
The Daily News
You dont have to remind Chuck Hurt Sr. that Tipton Countys residential market is booming.
96. Archived Article: Trends
- Monday, October 18, 2004
Hispanic Businesses Flourish in Memphis
The Daily News
Cristina Michta, a Spanish teacher at the Grizzlies Academy in Memphis, is busier these days than shes ever been. She divides her time between teaching Spanish an...
97. Archived Article: Real Focus
- Tuesday, May 04, 2004
Realtors Work to Meet Needs of Foreign Buyers
The Daily News
Making up to a 40 percent down payment and paying 30 percent interest couldnt make for a happy homebuying experience. At the very least, its a far cry from the...
98. Archived Article: Home (lead)
- Wednesday, March 05, 2003
Realtors looking for buyers in hot housing market
Realtors looking for buyers in hot housing market
By STACEY WIEDOWER
The Daily News
With low mortgage interest rates, a healthy inventory of local listings and continued record-setting na...
99. Archived Article: Marketplace
- Monday, February 10, 2003
Professional attire squeezing out the casual look
Professional attire squeezing out the casual look
By ANDREW BELL
The Daily News
Professional dress is making a comeback, and as it does, suit stores and tailors are the main financial ben...
100. Archived Article: Real Focus
- Tuesday, December 24, 2002
Residential real estate market enjoys record year
Residential real estate market enjoys record year
By STACEY WIEDOWER
The Daily News
A lot of Mid-Southerners are getting exceptionally big Christmas gifts this year too big to fit under t...