AP - Shares of mortgage financiers Fannie Mae and Freddie Mac stabilized Tuesday, a day after plunging over worries the pair might need billions of dollars in new capital if a new accounting rule is put into effect.
A fee for finding lost money
A tracer firm says it’s found $14,000 in lost assets for us. Do I pay them the fee they want, or do I even trust them?
I’ve had many clients come to me saying they were paying their old adviser somewhere in the neighborhood of 1% a year. Arguably, that might be appropriate, especially if the adviser provided a valuable service. However, when I show them that they were paying 3% or more in total fees, they are usually stunned.
Invest to win 2007
Money Magazine’s new list of best mutual funds. Plus: 5 perfect money makeovers.
Fannie, Freddie shares gain after OFHEO comments (Reuters)
Reuters - Shares of Fannie Mae and Freddie Mac , the two largest providers of U.S. mortgage finance, rose after their regulator said on Tuesday that they should have adequate returns to raise capital.
Stocks rise modestly on oil decline, Bernanke talk (AP)
AP - Wall Street struggled to notch a gain Tuesday amid sinking oil prices, with investors still jittery about the ailing financial system and weak economy ahead of second-quarter earnings.
Last week, the federal government began sending out more than $100 billion in “tax rebates” to millions of Americans in an effort to stimulate the sluggish economy. More Info…
Money Magazine turns 35. Find out what’s changed since the first issue hit the stands and what’s to come for the next 35 years. More Info…
Reuters - Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening in 2008 or 2009, according to a research note from the firm.
Second annual edition…Money Magazine and Salary.com sought out the best jobs for anyone ready for a new challenge.
The only 7 investments you need
It’s a tough market, but that doesn’t mean you need more weapons for your portfolio. Now more than ever, don’t complicate your strategy. Simplify it.
Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.
Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.
The worst isn’t over for Miami, Phoenix, and hard hit areas of California, which are all forecast to see big home price drops in the next 12 months. More Info…
Whether you’re buying or selling, the real estate game has changed. To win, you’ve got to learn a new playbook.
Money 70: Best funds
Use these picks to fill any hole in your portfolio.
Why your tax rate is going up
Last week, the federal government began sending out more than $100 billion in “tax rebates” to millions of Americans in an effort to stimulate the sluggish economy.
Save or Splurge: A buying guide
To get the most for your money, you need to know two things: when it’s worth paying extra and when the budget choice is good enough. Money magazine shows you how.
Cities set for steep losses
The worst isn’t over for Miami, Phoenix, and hard hit areas of California, which are all forecast to see big home price drops in the next 12 months.
AFP - The US House of Representatives has approved a bill that lawmakers hope could stem the tide of home foreclosures due to the subprime mortgage crisis, but it faces a presidential veto.
Smart picks and sure strategies for today’s uncertain market
IndyMac loss steeper than expected, shares fall (Reuters)
Reuters - IndyMac Bancorp Inc , one of the largest independent U.S. mortgage lenders, posted a first-quarter loss on Monday as it wrote down bad mortgages and grappled with the cost of cutting jobs and closing offices.
Mortgage cos. reveal damage from housing crisis (AP)
AP - Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over.
AIG sees no signs of mortgage asset market rebound yet (Reuters)
Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.
If you can’t convince your contractor brother-in-law to help with your next project, you need the next best thing: Here are the 3 best sources.
National City nears investment of $6 billion to $7 billion: sour (Reuters)
Reuters - Subprime mortgage-hit National City , a large U.S. Midwest regional bank, is close to getting a $6-$7 billion injection from a group of investors led by private equity firm Corsair Capital, a source familiar with the transaction said on Sunday.
What’s next for real estate
Reports on 380 home markets across the country. See latest prices, forecasts, and other key stats.
Invest to win 2007
Money Magazine’s new list of best mutual funds. Plus: 5 perfect money makeovers.
Best jobs in America
Second annual edition…Money Magazine and Salary.com sought out the best jobs for anyone ready for a new challenge.
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