JOSEPH J. PENBERA: What Obama needs to hear on job creation Nov 20, 2009
There are now thousands of examples of banks stifling credit, discouraging refinancing, and ripping the American taxpayer off via complicity with government agencies. The credit climat 00004000 e for small business -- which has been the biggest job creator over the past several decades -- is as bad as it has ever been. (Fresno Bee -- Opinion)
Lawmakers grapple with state’s budget deficit Nov 20, 2009
Friday November 20, 2009. Lawmakers grapple with state s budget deficit , Assistant Editor11/19/2009. (Queens Chronicle, NY)
Stronger dollar, weak economic data punish stocks Nov 20, 2009
Financing Options: Need help financing or refinancing a home. Stronger dollar, weak economic data punish stocks. (USA Today -- Money)
As pensions dried up, four firms paid top execs $49.5M Nov 19, 2009
Financing Options: Need help financing or refinancing a home. As pensions dried up, four firms paid top execs $49. (USA Today -- Money)
Citi raises salaries for some execs, not CEO Nov 19, 2009
Financing Options: Need help financing or refinancing a home. Citi raises salaries for some execs, not CEO. (USA Today -- Money)
Madoff yacht, boats sold for more than $1M Nov 18, 2009
Financing Options: Need help financing or refinancing a home. Auction of Madoff boats and car raises more than $1M. (USA Today -- Money)
Real estate group looks on bright side Nov 18, 2009
Commercial buildings have lost half their value, he said, and billions in commercial loans coming due but with no prospect for refinancing. With the recession reducing demand, many tenants and owners are on life support. (San Diego Union-Tribune)
Simon Property Mulls Buying General Growth Mall Assets With Lazard Hiring Nov 18, 2009
Between now and the end of February, Simon has no standing in the bankruptcy court and its only when General Growth gets much farther into the process of refinancing its secured debt and its unsecured debt and its claims on the equity " before Simon might be able to bid, Sullivan said. Logical Buyer Simon Property has been raising money through debt and equity sales and preserving capital by paying 80 percent of its in stock. The mall owner in August sold $500 million of senior... (Bloomberg -- US)
Dallas economist: Commercial real estate sector will experience decline, but not as deep as in the 1980s Nov 18, 2009
I don t think the overhang of commercial real estate is as threatening to the economy or to financial institutions as all the residential mortgage backed securities, but it is still a big number," he said. Chuck Dannis, president of Dallas real estate appraisal firm , elaborated on the sector's struggles saying the problem lies in the fact that many mortgage-backed securities will be maturing in the next year or two. Generally, when they mature, someone comes in and refinances the loan, Dannis... (Dallas Business Journal, TX)
Interagency task force to target financial fraud Nov 18, 2009
Financing Options: Need help financing or refinancing a home. Interagency task force to target financial fraud. (USA Today -- Money)
Car Shopping Advice Nov 18, 2009
Find out what's involved in refinancing your car loan and see if it's right for you. Car Shopping. (Pensacola News Journal)
All 'Bull': Madoff's yacht, boats sail onto auction block Nov 17, 2009
Financing Options: Need help financing or refinancing a home. All 'Bull': Madoff's yacht, boats sail onto auction block. (USA Today -- Money)
Payback for GM Nov 16, 2009
By at least one analysis, it is the highest annual rate of inflation for drug prices since 1992," writes the NYT. The rate that U.S. businesses are filing for bankruptcy finally , as credit lines are reopened and businesses greatly grab those lifelines to refinance with new debt, the WSJ reports. But don't get too excited: "Many analysts worry the refinancing wave is just 'kicking the can' down the road, without fundamentally fixing companies' deeper problems. Among weaker companies, about $1. (Slate)
Mortgage applications up 3% Nov 13, 2009
Refinancing tightened its hold on the majority of mortgage activity, expanding its market share for all applications last week to 71. 5 percent from 66. (Baltimore Business Journal, MD)
FBI: Fla. lawyer's alleged Ponzi scheme likely exceeds $1 billion Nov 13, 2009
Financing Options: Need help financing or refinancing a home. Suspected Ponzi scheme in Florida could top $1B. (USA Today -- Money)
Blockbuster Loss Grows as Sales Drop Nov 13, 2009
Blockbuster spent the better part of the year in a round of capital raising and debt refinancing to alleviate a cash-flow crunch and is turning its attention to growth in the fourth quarter, Chairman and Chief Executive Jim Keyes told analysts. Keyes reiterated that the company would stay focused on its stores and asked analysts for patience while new revenue sources, including rental kiosks, games-by-mail and on-demand rentals, take hold. (ABC News -- Business)
Crossett Board Approves Christmas Bonuses Nov 13, 2009
Norman Hill, district financial manager, said although the district is beginning to see a savings from the closing of two campuses and a savings in debt service savings from the refinancing of bonds, a decrease in state funds from student loss is also reflected in the budget. However, Hill said,"As we go throughout the year, although we're losing money in the school district, we are being able to curtail and bring our expenditures in line with the loss, and I think we will be able to stabilize... (Hamburg Ashley County Ledger, AR)
Want an introduction? Try the 5.16 percent home loan Nov 13, 2009
Home Loans, Lowest Rate Mortgage, Refinancing Australia - SMH. You are here. (Sydney Morning Herald -- Sport)
No progress made on deficit reduction Nov 12, 2009
He singled out Senate Democrats for being unwilling to suggest any spending cuts, instead favoring more one-time actions to boost revenue, such as refinancing bonds. That s what got this state into such a huge hole, he said. (Buffalo Business First, NY)
Knights ride to rescue veterans widow Nov 12, 2009
The final hurdle to refinancing was acquiring homeowners insurance. An inspection yielded problems with the roof that would require repairs before the home could be insured. (McKinney Courier-Gazette, TX)
U.S. Chamber, Obama clash over business issues Nov 11, 2009
Financing Options: Need help financing or refinancing a home. U.S. Chamber, Obama clash over business issues. (USA Today -- Money)
Chase adding 1,200 mortgage officers Nov 11, 2009
The workers are needed as the company aggressively goes after new home mortgage business and customers refinancing their home loans. Through organizational changes and additional systems, the company has boosted its loan capacity, said Dave Lowman, head of home lending at Chase. (MSNBC -- Business)
Stocks end mixed after surge as dollar rises Nov 11, 2009
Financing Options: Need help financing or refinancing a home. Stocks end mixed after surge as dollar rises. (USA Today -- Money)
Paterson battles for state budget cuts Nov 10, 2009
The key suggestion is refinancing bonds the state issued years ago after a class-action settlement against tobacco companies. Democrats believe the state can generate $500 million by refinancing the bonds ... Refinancing tobacco bonds] is a nonstarter for me because it does not exist. (Albany Business Review, NY)
Bloomington passes tax levy $2 million lower than recommended Nov 10, 2009
The council unanimously approved refinancing two of its bonds in an attempt to give the city some cash for emergencies. The city will put $2. (The Pantagraph newspaper)
Default notices rising in upper echelon ZIPs Nov 10, 2009
Big-ticket jumbo mortgages are shunned by lenders, which closes off refinancing. Most of the government-backed loan modification efforts are focused on the lower end. (San Francisco Chronicle -- Business)
Cheap money spurs stock gains; Dow hits '09 high Nov 10, 2009
Financing Options: Need help financing or refinancing a home. The Dow Jones industrial average has stormed to its highest level in more than a year. (USA Today -- Money)
Cleaning up closing costs Nov 10, 2009
Worse yet, you had to come up with the extra money to handle the surprise costs or the home purchase or refinancing could not proceed. Those days are still here - consumers continue to be unprotected from closing cost shocks or intentional lowballing of fees - but in about eight weeks the situation should change dramatically. (San Francisco Chronicle -- Business)
Bids on a boatload of Madoff's stuff will help his Ponzi victims Nov 10, 2009
Financing Options: Need help financing or refinancing a home. Madoff items to be auctioned to reimburse victims. (USA Today -- Money)
Stock volatility is back, a sign of an aging bull? Nov 10, 2009
Financing Options: Need help financing or refinancing a home. Stock volatility is back, a sign of an aging bull. (USA Today -- Money)
High refinancing level eases debt fears Nov 10, 2009
Financial Times FT.com. All times are London time. (FT.com -- Markets)
Weak dollar pushes gold above $1,100 an ounce Nov 10, 2009
Financing Options: Need help financing or refinancing a home. Weak dollar pushes gold above $1,100 an ounce. (USA Today -- Money)
Fed: Banks Eye Tighter Terms On Credit Cards Nov 10, 2009
Banks, in another special question, said they were extending commercial real-estate loans more often than refinancing them. They cited lower originations and decreased draw on revolving credit lines as main reasons for a decline in commercial and industrial loans this year. (Click2Houston, TX)
Corporate bond market likely to expand Nov 10, 2009
The accompanying difficulty in refinancing debt which many companies faced because of the global financial crisis meant securing funds became more important, even if it meant paying more for it. Reserve Bank of Australia head of domestic markets John Broadbent said local companies had returned to issue bonds in 2009, mainly to replace bank loans, which had became much more expensive and harder to obtain. (Sydney Morning Herald -- Business)
Will his plan for cheaper solar send profits through the roof? Nov 9, 2009
Financing Options: Need help financing or refinancing a home. SolarCity aims to make solar power more affordable. (USA Today -- Money)
Buffett Says `Credit Crisis Has Abated' After Berkshire's Profit Triples Nov 9, 2009
Refinancing costs for municipalities and the riskiest corporate borrowers plunged, reducing the chance Omaha, Nebraska-based Berkshire will have to pay out on protection it sold against defaults. After a profit increase, Berkshire is risking its AAA credit grade by borrowing about $8 billion for the purchase of Fort Worth, Texas-based Burlington, a deal Buffett called an all-in wager on the U.S. economy. (Bloomberg -- US)
BUFFETT: Railroad business is 'in tune with the future' Nov 9, 2009
Financing Options: Need help financing or refinancing a home. Buffett: Railroad business is 'in tune with the future. (USA Today -- Money)
Freddie Mac Posts $5 Billion Loss Nov 8, 2009
In order to ease the terms of loans under the Obama administration's Making Home Affordable refinancing program, the companies must buy the mortgages out of securities, and write down their value. Seeking alternatives to foreclosures also means bad loans sit on their books longer. (ABC News -- Wire)
Governments Woeful Handling of the Petroleum Sector Nov 7, 2009
The fact is therefore inescapable that though the NPP Government was able to clean up the books of TOR by repackaging and refinancing the debt with bonds, the cumulative effect of the under recoveries during the height of the of the World Market Prices and the stock losses for a three-month inventory, the NPP Governments tax waivers and reductions, interest on TOR overdraft, exchange losses resulting from the depreciation of the cedi is what has now become famously known as the TOR Debt.... (Ghana Web, Ghana)
Megha Mittal Meets Escada Workers in Munich, Says She Supports CEO Saelzer Nov 7, 2009
Escada, whose dresses are worn by actress and socialite Paris Hilton, filed for bankruptcy Aug. 13 after holders of only about half its bonds backed a refinancing, derailing a plan to obtain a bank loan and raise capital. Textile Magnates Daughter. (Bloomberg -- Germany)
Stocks inch up despite jump in jobless rate; Dow up 3% for week Nov 7, 2009
Financing Options: Need help financing or refinancing a home. Stocks inch up despite jump in jobless rate; Dow up 3% for week. (USA Today -- Money)
Stocks jump on positive economic data; Dow back above 10,000 Nov 6, 2009
Financing Options: Need help financing or refinancing a home. Stocks rally on drop in jobless claims, upbeat Cisco forecast. (USA Today -- Money)
Hyatt, Ancestry.com successes show IPO market mending Nov 6, 2009
Financing Options: Need help financing or refinancing a home. Hyatt, Ancestry. (USA Today -- Money)
Starbucks profit beats estimates; business picks up Nov 6, 2009
Financing Options: Need help financing or refinancing a home. Starbucks profit beats estimates; business picks up. (USA Today -- Money)
European, British central banks leave rates alone Nov 6, 2009
"The November ECB monetary policy meeting should culminate in the widely expected decision of keeping the main refinancing rate at 1%," Ideaglobal analysts said in a Thursday research note. "No changes in terms of the nonstandard monetary policy operations are on the cards." Nonstandard measures are the ECB's version of quantitative easing. (USA Today -- Money)
Toys R Us preps bond to takeout CMBS Giraffe; potential IPO in the wings, sources say Nov 5, 2009
Bank of America and Deutsche Bank arranged the CMBS issues in 2005 during Toys LBO and are rumored to be preparing to launch the refinancing as early as this week, according to multiple sources. The mortgages on the properties in question continue to perform well, but with CMBS markets in deep freeze, refinancing the debt that way is not an option. (FT.com -- Markets)
Tewksbury local aid slashed Nov 5, 2009
At a show cause hearing for Maverick s Restaurant on Main Street, Maverick s representatives said the restaurant is in the process of refinancing. They asked the selectmen for a two-week delay until they pass papers, and said the town of Tewksbury will be paid in full, with all back taxes. (Tewksbury Advocate, MA)
Madoff accountant pleads guilty, says he's sorry Nov 4, 2009
Financing Options: Need help financing or refinancing a home. Madoff accountant pleads guilty, says he's sorry. (USA Today -- Money)
Regulators OK Plan for PG&E Recovery Nov 3, 2009
"We just gave PG&E 10 early Christmas gifts Although the reorganization's overall cost to ratepayers promises to be hefty, they are likely to see lower electricity bills in the years ahead. That's because rates shot up to unprecedented levels -- twice the national average -- during the 2000-01 energy debacle. Energy experts noted that ratepayers would have been in for even more savings if PG&E hadn't elected to file for bankruptcy protection and hadn't won so many concessions from the PUC.... (Yahoo News -- Utility Industry Deregulation)
Lower Your Taxes: 10 Moves to Make Now Nov 3, 2009
Look out for this common mistake: If you refinanced your mortgage previously to benefit from lower rates and paid points then, refinancing now for any reason means you can claim on your 2009 return whatevers left of those remaining points. Many borrowers forget to deduct these points because they dont show up on the closing papers at a new refinancing. (CBS News)
Thanks for the ride ... and billions in fees Nov 1, 2009
Pivotally, Macquarie is being kicked out as manager of good MIG, ending the Macquarie-sourced deal-making, refinancings, revaluations and fee-ripping since MIG was renamed in 2000 ... Then a credit crisis made borrowing difficult, and a resulting asset deflation made revaluations for refinancing impossible. (Sydney Morning Herald -- Business)
No tax hike budget wins approval Oct 31, 2009
There was also an elimination of unused sick-day payouts, refinancing of bonds, expected sale of delinquent tax properties amounting to just under $1 million. Blanchfield said the budget uses reserve fund balances available by $241,000, but the money is mostly allocated to temporary projects that shouldn't return in future budgets, freeing them up again. (Albany Times Union)
paidContent: Media stocks are flying Oct 31, 2009
Grant Thornton notes Yell, Trinity Mirror () and Johnston Press amongst those to have turned around their market valuation, following refinancing and restructuring plans: may signal a re-bound to a more consistently positive sentiment for the media industry as a whole after over two years out of favour with the market. (The index excludes FTSE 100 and Micro Cap companies). (Guardian Unlimited -- Media)
As the New Orleans Arena's 10th anniversary is celebrated, its tremendous benefits are more than could have been expected Oct 31, 2009
UPDATED: 3 :28 a.m. CDT, October 31, 2009. Friday, October 30, 2009 By Jimmy Smith Staff writer. (Nola.com -- Sports)
Rite Aid Shareholder Coutu Says Chain May Need to Sell Some U.S. Stores Oct 31, 2009
That hindered the integration of the Brooks Eckerd stores into Rite Aid and increased the cost of refinancing debt, Coutu said. Rite Aid fell 4 cents to $1. (Bloomberg -- Canada)
Macquarie's core profits under pressure Oct 31, 2009
4 billion that are debt-laden and in need of refinancing. Macquarie will bank $50 million for co-operating with its departure as manager of the mature tollway fund, and separately clip 1 per cent of the funds market capitalisation on listing, as payment for acting as financial adviser on the deal: how it is able to advise on the deal when it is also a beneficiary is not explained. (Sydney Morning Herald -- Business)
The banks are rolling in it despite air of despondency Oct 31, 2009
They have put off for as long as possible long-term refinancing. Even though global credit markets are slowly thawing, rates are still higher than in 2007. (Sydney Morning Herald -- Business)
Stocks plunge as worries mount about recovery; Dow drops 250 Oct 31, 2009
Financing Options: Need help financing or refinancing a home. Stocks plunge as worries mount about recovery; Dow drops 250. (USA Today -- Money)
Receiver hopes to track down $1.5B for Stanford investors Oct 30, 2009
Financing Options: Need help financing or refinancing a home. Receiver hopes to track down $1. (USA Today -- Money)
Credit Creaks into Gear Oct 30, 2009
New Business October 29, 2009, 5:00PM EST. With a big boost from the feds, investors again like securities backed by assets like car loans but it'll take years for lending to flow freely. (BusinessWeek)
Tower Financial Corporation Reports Third Quarter Results Oct 30, 2009
The decrease in the residential portfolio was due to increased refinancing activity during the first nine months of 2009 combined with the Company's desire to sell these mortgages rather than hold them for both interest rate risk and fee income purposes ... 3 percent increase from the second quarter 2009, due to increased refinancing activity being experienced throughout the country. (Primezone Releases)
Kodak posts fourth straight quarterly loss Oct 30, 2009
Financing Options: Need help financing or refinancing a home. Kodak posts fourth straight quarterly loss. (USA Today -- Money)
Madoff victims paid $530M-plus so far, trustee says Oct 29, 2009
Financing Options: Need help financing or refinancing a home. Madoff victims paid $530M-plus so far, trustee says. (USA Today -- Money)
Pineland Marina faces foreclosure suit Oct 29, 2009
Owner claims he's just refinancing the property ... 9 million foreclosure lawsuit against Pineland Marina on Pine Island - but the owner said Monday he's just refinancing the property ... "I'm right in the middle of refinancing at the moment with the same lender.". (The News-Press -- Business)
2 who called financial crisis fear world of pain looms for stocks Oct 29, 2009
Financing Options: Need help financing or refinancing a home. Two economists see red flags again for stock market. (USA Today -- Money)
