Friedman, Billings, Ramsey Group Inc. reported $124.2 million in subprime losses during the first quarter. At Countrywide Financial Corp., pretax earnings plunged to $100 in the first quarter. Indymac reported first quarter net income of $60 million from its consumer mortgage banking business, down 22 percent from the fourth quarter.
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Millennium Funding Group has notified its customers it will stop residential originations. The latest action will leave more than 100 employees without a job. Loans already in process will be funded until May 11, the message said.
Original post by MortgageDaily.com - Mortgage News Headlines
Consumer confidence is at its highest for six months despite fears over rising interest rates, which have cooled the housing market
Original post by MortgageDaily.com - Mortgage News Headlines
Royal London, the country’s largest mutual life insurer, is in talks to combine with one of its smaller rivals Royal Liver in a deal that could value the latter at £400m
Original post by MortgageDaily.com - Mortgage News Headlines
Production was $14.4 billion during the first quarter, according to National City Corp.’s financial supplement to its earnings report. Volume was higher than the prior quarter, the Cleveland based company reported. Excluding First Franklin, fundings also exceeded the first quarter 2006.
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Millions of motorists are being ripped off by insurers cashing in on ‘hidden’ charges, it is claimed today.
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A price cut from EDF Energy came under immediate fire from market watches who said the cut would leave customers disappointed
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Energy firm EDF Energy finally joined the price war in the sector today by cutting gas bills for customers by 10% - but made no change to its electricity prices
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There are such stringent conditions you’re unlikley to be able to buy that nice home on the edge of the campus, says the College Money Guru.
Original post by MortgageDaily.com - Mortgage News Headlines
Money market mutual funds are usually safe, but they’re not insured, says Dr. Don.
Original post by MortgageDaily.com - Mortgage News Headlines