AHM files for bankruptcy (AP)
AP - American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening. More »
No cash? No home loans for many.
WASHINGTON -- Home buyers again need their own money to close a deal. More »
Support grows for MLS consolidation
Survey: NAR members differ with MLS execs on ideal size for MLSs More »
Loan Standards Up As Defaults, Wall St. Hit Banks, Lenders (Investor's Business Daily)
Investor's Business Daily - Mortgage lenders are restricting credit to a wide range of borrowers amid rising home loan defaults, analysts say, a move likely to prolong the housing slump and sap economic growth. More »
US stocks rebound on credit hopes (FT.com)
FT.com - US stocks rebounded as financial shares gained ground on hopes that Fannie Mae (NYSE:FNM) and Freddie Mac - the giant government-sponsored mortgage companies - would help stabilise credit markets. More »
Swiss Re profit rises 45 percent (Reuters)
Reuters - Reinsurer Swiss Re said it had escaped the subprime crisis and that net profit rose by 45 percent in the second quarter, meeting expectations with the help of a large acquisition and low claims. More »
Clinton seeks aid for at-risk homeowners (AP)
AP - Presidential hopeful Hillary Rodham Clinton is calling for penalties on unscrupulous mortgage brokers who engage in predatory lending and a $1 billion federal fund to help homeowners avoid foreclosure. More »
Fed seen holding rates steady as mortgage pain deepens (AFP)
AFP - The Federal Reserve is widely expected to keep US interest rates on hold at its meeting Tuesday despite increasing concerns about America's troubled housing and mortgage markets, economists say. More »
Is mortgage market veering toward meltdown?
'Fantasy' that home prices only increase has been punctured More »
Mortgage mess creates bargains (Reuters)
Reuters - U.S. mortgage roadkill is fresh and ripe for the picking. Countrywide Financial Corp demonstrated that on Tuesday when it announced plans to buy five retail mortgage branches from HomeBanc Corp , which is exiting the business after its stock was delisted last week for trading around 30 cents a share. More »
Clinton proposes crackdown in mortgage market (Reuters)
Reuters - With the U.S. mortgage market in turmoil, Democratic presidential front-runner Sen. Hillary Clinton on Tuesday proposed clamping down on lending abuses and providing more aid to families who face losing their homes. More »
Fed keeps US rates on hold; acknowledges market turmoil (AFP)
AFP - The Federal Reserve announced Tuesday it was keeping US interest rates unchanged at 5.25 percent as it acknowledged concerns about tightening credit and a persistent housing market slump. More »
Nation - Tuesday (Investor's Business Daily)
Investor's Business Daily - Sen. Hillary Clinton, D-N.Y., proposed a $1 bil fund to help those at risk of foreclosure. She also wants to free up Freddie Mac and Fannie Mae to buy more mortgages. Senate Banking Committee Chairman Chris Dodd, D-Conn., and Sen. Charles Schumer, D-N.Y., also called for regulators to lift a cap on the firms' mortgage holdings. Both stocks rose. More »
Democrats call for action on mortgage crisis (FT.com)
FT.com - Influential Democratic senators on Tuesday called for Fannie Mae (NYSE:FNM) and Freddie Mac, the government-sponsored mortgage companies, to be given a bigger role in efforts to stabilise the troubled US mortgage market. More »
American Home Mortgage gets bankruptcy court OK (Reuters)
Reuters - American Home Mortgage Corp got bankruptcy court approval on Tuesday for debtor-in-possession financing to pay salaries and other costs as it shuts most businesses, as well as funding to keep its loan servicing unit temporarily in operation. More »
InmanTV: Commission vs. salaried agents
Redfin, John L. Scott CEOs square off on real estate business models More »
KHD Humboldt bags $110m Saudi contract
KHD Humboldt Wedag International Ltd. has been contracted by Saudi Arabia-based Arabian Cement Company to build a new cement production line with a capacity of 5,000 tonnes of clinker per day. The contract which amounts to approximately USD110 million, covers the design and equipment supply for Katrana Cement factory, including supply of mechanical, electrical and automation equipment for its production line for the new plant in Katrana, Jordan. More »
Developer to sell Amwaj homes
Sales of luxury homes in the Amwaj Gateway project, on Amwaj Island, are expected to begin after Ramadhan. The project is ahead of schedule, say developers. According to the Bahrain Tribune, they are likely to begin selling units in October, which should be ready for moving into by the end of 2009 More »
The Dunes on course
Dubai Soprts City has set 'The Dunes' for its official opening in December 2007, rapidly reaching completion. The golf course will be ready for golfers as DSC officials said they are planning to use the time between completion and opening to allow the course to mature, so that it will provide the highest quality playing experience. More »
$14bn Sama Dubai-Tunis tie up
Sama Dubai, the international investment arm of Dubai Holding has inaugurated its $14bn joint venture with the Tunisian government, reported WAM. Dubai Ruler HH Sheikh Mohammed bin Rashid Al Maktoum and Tunisian President Zine Al Abidine ben Ali led the opening of the 873 hectare project called The Century City and Mediterranean Gate. More »
Emaar completes Samarah project
Emaar International Jordan, the wholly-owned subsidiary of Dubai-based Emaar Properties, has completed the Presentation Centre of its $500m (JD354m) Samarah Dead Sea Golf & Beach Resort. The Resort is a mixed-use, master-planned community and will feature several Mediterranean-styled villas set amidst a retail centre and a Spa and Wellness Village. More »