Copyright (c) 2008 Yahoo! Inc. All rights reserved. http://news.yahoo.com/i/2121 Business - Real Estate en-us Mon, 12 May 2008 22:10:24 GMT 5 142 18 http://news.yahoo.com/i/2121 http://us.i1.yimg.com/us.yimg.com/i/us/nws/th/main_142b.gif http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/mbia_dc nm/20080512/mbia_dc Reuters Mon, 12 May 2008 22:10:24 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/mbia_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080512/2008_05_12t142029_450x307_us_mbia.jpg?x=130&y=88&q=85&sig=Mfcar5J5lsVcEoLH4e8nQw--" align="left" height="88" width="130" alt="A sign advertises an open house for sale in Alexandria, Virginia, April 6, 2008. (Jonathan Ernst/Reuters)" border="0" /></a>Reuters - MBIA Inc , the world's largest bond insurer, posted a quarterly loss of $2.4 billion on Monday as it took charges on billions of dollars of exposure to bonds linked to subprime mortgages.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/mbia_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080512/2008_05_12t142029_450x307_us_mbia.jpg?x=130&y=88&q=85&sig=Mfcar5J5lsVcEoLH4e8nQw--" align="left" height="88" width="130" alt="photo" title="A sign advertises an open house for sale in Alexandria, Virginia, April 6, 2008. (Jonathan Ernst/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080512/ap_on_bi_ge/mortgage_wrap ap/20080512/mortgage_wrap AP Mon, 12 May 2008 20:38:38 GMT 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. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080512/ap_on_go_co/housing_deal_glance ap/20080512/housing_deal_glance AP Mon, 12 May 2008 19:30:55 GMT AP - Major provisions of a House-passed housing rescue bill aimed at heading off foreclosures and stabilizing the market. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080512/ap_on_bi_ge/earns_indymac ap/20080512/earns_indymac AP Mon, 12 May 2008 16:21:02 GMT AP - IndyMac Bancorp Inc. swung to a loss in the first quarter as deteriorating credit markets forced the mortgage lender to lower the value of mortgage-backed securities, and warned Monday it would not post a profitable quarter in 2008. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/afp/20080512/ts_alt_afp/britainhongkongusbankingcompanyearningshsbc afp/20080512/britainhongkongusbankingcompanyearningshsbc AFP Mon, 12 May 2008 12:37:01 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/afp/20080512/ts_alt_afp/britainhongkongusbankingcompanyearningshsbc"><img src="http://d.yimg.com/us.yimg.com/p/afp/20080512/capt.cps.ndq34.120508143522.photo00.photo.default-300x512.jpg?x=76&y=130&q=85&sig=5Z9sUyJAiNbmdnXA.o2Eyw--" align="left" height="130" width="76" alt="Logo of HSBC in the Kwun Tong district in Hong Kong on May 2008. Global bank HSBC has said that first-quarter profits climbed, despite writing off an additional 3.2 billion dollars (2.07 billion euros) from its exposure to the US subprime housing market slump(AFP/File/Mike Clarke)" border="0" /></a>AFP - Global bank HSBC said Monday that first-quarter profits climbed, despite taking a 3.2-billion-dollar (1.6 billion pound) from its exposure to the US subprime housing market slump.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/afp/20080512/ts_alt_afp/britainhongkongusbankingcompanyearningshsbc"><img src="http://d.yimg.com/us.yimg.com/p/afp/20080512/capt.cps.ndq34.120508143522.photo00.photo.default-300x512.jpg?x=76&y=130&q=85&sig=5Z9sUyJAiNbmdnXA.o2Eyw--" align="left" height="130" width="76" alt="photo" title="Logo of HSBC in the Kwun Tong district in Hong Kong on May 2008. Global bank HSBC has said that first-quarter profits climbed, despite writing off an additional 3.2 billion dollars (2.07 billion euros) from its exposure to the US subprime housing market slump(AFP/File/Mike Clarke)" border="0"/></a></p><br clear="all"/> (AFP) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080512/ap_on_bi_ge/britain_hsbc ap/20080512/britain_hsbc AP Mon, 12 May 2008 11:10:39 GMT AP - HSBC Holdings PLC said Monday that first-quarter profit was better than a year ago, despite a $3.2 billion write-down on subprime mortgage assets in the United States. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/hsbc_dc nm/20080512/hsbc_dc Reuters Mon, 12 May 2008 10:49:25 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/hsbc_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080512/2008_05_12t083247_450x254_us_hsbc.jpg?x=130&y=73&q=85&sig=p49YOc2QLMKjG4eh9lRJOA--" align="left" height="73" width="130" alt="Passengers on a bus pass a branch of HSBC in London May 12, 2008. (Luke MacGregor/Reuters)" border="0" /></a>Reuters - Europe's biggest bank HSBC Holdings said its profit in the first quarter was ahead of a year ago as growth in Asia helped counter over $5 billion in hits from bad debts on U.S. home loans and asset writedowns.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/hsbc_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080512/2008_05_12t083247_450x254_us_hsbc.jpg?x=130&y=73&q=85&sig=p49YOc2QLMKjG4eh9lRJOA--" align="left" height="73" width="130" alt="photo" title="Passengers on a bus pass a branch of HSBC in London May 12, 2008. (Luke MacGregor/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080512/ap_on_bi_ge/earns_pmi_group ap/20080512/earns_pmi_group AP Mon, 12 May 2008 13:36:20 GMT AP - Mortgage insurer PMI Group Inc. said Monday it swung to a first-quarter loss from year-ago profit, due to hefty payouts on default claims and charges to write off its investment in bond insurer FGIC. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080512/bs_nm/hsbc_trading_dc nm/20080512/hsbc_trading_dc Reuters Mon, 12 May 2008 08:38:48 GMT Reuters - Europe's biggest bank HSBC Holdings said its profit in the first quarter was ahead of a year earlier as growth in Asia and elsewhere helped counter another big hit for bad debts on U.S. home loans. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080511/us_nm/jackson_colony_dc nm/20080511/jackson_colony_dc Reuters Sun, 11 May 2008 20:55:01 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080511/us_nm/jackson_colony_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080511/2008_05_11t155415_450x267_us_jackson.jpg?x=130&y=77&q=85&sig=EB8gNPFmsyxFuYYeAC_aaA--" align="left" height="77" width="130" alt="Michael Jackson fans sit near a banner outside Jackson's Neverland Ranch near Los Olivos, California on June 16, 2005. (Lucas Jackson/Reuters)" border="0" /></a>Reuters - Entertainer Michael Jackson said on Sunday a foreclosure sale on his Neverland Ranch set for this week was averted after a loan on the California property was sold to Colony Capital, a large real estate investment firm.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080511/us_nm/jackson_colony_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080511/2008_05_11t155415_450x267_us_jackson.jpg?x=130&y=77&q=85&sig=EB8gNPFmsyxFuYYeAC_aaA--" align="left" height="77" width="130" alt="photo" title="Michael Jackson fans sit near a banner outside Jackson's Neverland Ranch near Los Olivos, California on June 16, 2005. (Lucas Jackson/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080511/us_nm/california_foreclosures_dc nm/20080511/california_foreclosures_dc Reuters Sun, 11 May 2008 12:52:50 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080511/us_nm/california_foreclosures_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080511/2008_05_11t132059_344x450_us_california_foreclosures.jpg?x=99&y=130&q=85&sig=kI7POYqxoKtX91r318kYiQ--" align="left" height="130" width="99" alt="Shawn Forgaard poses with his wife Shauna, infant son Chase and their dog Hudson in front of their Santa Cruz, California home in this self-portrait photo released to Reuters May 10, 2008. Forgaard, a 37-year-old software company manager, bought one home for his family to live in and nine more as investments. He stands to lose all the investment houses in the mortgage meltdown but says he has come away wiser from the experience. (Shawn Forgaard/Handout/Reuters)" border="0" /></a>Reuters - A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080511/us_nm/california_foreclosures_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080511/2008_05_11t132059_344x450_us_california_foreclosures.jpg?x=99&y=130&q=85&sig=kI7POYqxoKtX91r318kYiQ--" align="left" height="130" width="99" alt="photo" title="Shawn Forgaard poses with his wife Shauna, infant son Chase and their dog Hudson in front of their Santa Cruz, California home in this self-portrait photo released to Reuters May 10, 2008. Forgaard, a 37-year-old software company manager, bought one home for his family to live in and nine more as investments. He stands to lose all the investment houses in the mortgage meltdown but says he has come away wiser from the experience. (Shawn Forgaard/Handout/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/afp/20080509/bs_afp/usbankingcompanystructurecitigroup afp/20080509/usbankingcompanystructurecitigroup AFP Fri, 09 May 2008 21:34:31 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/afp/20080509/bs_afp/usbankingcompanystructurecitigroup"><img src="http://d.yimg.com/us.yimg.com/p/afp/20080509/capt.cps.ndc62.090508233345.photo00.photo.default-512x357.jpg?x=130&y=90&q=85&sig=HxQ.6Hpph8OsQF.sglgnNQ--" align="left" height="90" width="130" alt="A pedestrian walks by a Citibank office in San Francisco. US banking giant Citigroup has said it plans to shed about 400 billion dollars in assets over the next two to three years as it tries to recover from the subprime mortgage crisis.(AFP/Getty Images/File/Justin Sullivan)" border="0" /></a>AFP - Citigroup, reeling from the subprime mortgage crisis, said Friday it plans to sell roughly 400 billion dollars in assets in a streamlining reorganization aimed at restoring the US banking giant to profit.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/afp/20080509/bs_afp/usbankingcompanystructurecitigroup"><img src="http://d.yimg.com/us.yimg.com/p/afp/20080509/capt.cps.ndc62.090508233345.photo00.photo.default-512x357.jpg?x=130&y=90&q=85&sig=HxQ.6Hpph8OsQF.sglgnNQ--" align="left" height="90" width="130" alt="photo" title="A pedestrian walks by a Citibank office in San Francisco. US banking giant Citigroup has said it plans to shed about 400 billion dollars in assets over the next two to three years as it tries to recover from the subprime mortgage crisis.(AFP/Getty Images/File/Justin Sullivan)" border="0"/></a></p><br clear="all"/> (AFP) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/pl_nm/usa_housing_congress_dc nm/20080509/usa_housing_congress_dc Reuters Fri, 09 May 2008 19:46:25 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/pl_nm/usa_housing_congress_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080509/2008_05_08t172904_450x368_us_usa_housing_congress.jpg?x=130&y=106&q=85&sig=BzZqLfHH55lvskp6yYKcwA--" align="left" height="106" width="130" alt="Prospective buyers visit an open house in Alexandria, Virginia, April 6, 2008. The House of Representatives on Thursday approved a bill to create a $300 billion mortgage-insurance fund and provide billions more in homeowner aid to stabilize a housing market shaken by a wave of foreclosures. (Jonathan Ernst/Reuters)" border="0" /></a>Reuters - The White House on Friday set out terms for a possible deal on a housing market rescue plan, as a sweeping package backed by the House of Representatives was on its way to an uncertain greeting in the Senate.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/pl_nm/usa_housing_congress_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080509/2008_05_08t172904_450x368_us_usa_housing_congress.jpg?x=130&y=106&q=85&sig=BzZqLfHH55lvskp6yYKcwA--" align="left" height="106" width="130" alt="photo" title="Prospective buyers visit an open house in Alexandria, Virginia, April 6, 2008. The House of Representatives on Thursday approved a bill to create a $300 billion mortgage-insurance fund and provide billions more in homeowner aid to stabilize a housing market shaken by a wave of foreclosures. (Jonathan Ernst/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/countrywide_stock_dc nm/20080509/countrywide_stock_dc Reuters Fri, 09 May 2008 19:39:39 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/countrywide_stock_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080509/2008_05_09t153908_450x343_us_countrywide_stock.jpg?x=130&y=99&q=85&sig=ObhiPbVcLVqgMTfFfv9PSw--" align="left" height="99" width="130" alt="A Countrywide branch location is seen in Burlington, Massachusetts May 5, 2008. (Brian Snyder/Reuters)" border="0" /></a>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.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/countrywide_stock_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080509/2008_05_09t153908_450x343_us_countrywide_stock.jpg?x=130&y=99&q=85&sig=ObhiPbVcLVqgMTfFfv9PSw--" align="left" height="99" width="130" alt="photo" title="A Countrywide branch location is seen in Burlington, Massachusetts May 5, 2008. (Brian Snyder/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/usa_housing_mortagecredit_goldman_dc nm/20080509/usa_housing_mortagecredit_goldman_dc Reuters Fri, 09 May 2008 19:25:36 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/usa_housing_mortagecredit_goldman_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080509/2008_05_09t152444_450x281_us_usa_housing_mortagecredit_goldman.jpg?x=130&y=81&q=85&sig=lkNNqF1vGkzjCG8QTVlc6w--" align="left" height="81" width="130" alt="A foreclosed home is seen in Chicago January 28, 2008. (John Gress/Reuters)" border="0" /></a>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.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/usa_housing_mortagecredit_goldman_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080509/2008_05_09t152444_450x281_us_usa_housing_mortagecredit_goldman.jpg?x=130&y=81&q=85&sig=lkNNqF1vGkzjCG8QTVlc6w--" align="left" height="81" width="130" alt="photo" title="A foreclosed home is seen in Chicago January 28, 2008. (John Gress/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/aig_dc nm/20080509/aig_dc Reuters Fri, 09 May 2008 18:43:37 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/aig_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080512/2008_05_12t154806_450x288_us_aig.jpg?x=130&y=83&q=85&sig=vyQ35pdlyoGbNzGQqjbZxw--" align="left" height="83" width="130" alt="A sign on an office building for AIG, American International Group, is pictured in Los Angeles, California May 8, 2008. (Fred Prouser/Reuters)" border="0" /></a>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.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/nm/20080509/bs_nm/aig_dc"><img src="http://d.yimg.com/us.yimg.com/p/nm/20080512/2008_05_12t154806_450x288_us_aig.jpg?x=130&y=83&q=85&sig=vyQ35pdlyoGbNzGQqjbZxw--" align="left" height="83" width="130" alt="photo" title="A sign on an office building for AIG, American International Group, is pictured in Los Angeles, California May 8, 2008. (Fred Prouser/Reuters)" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ft/20080509/bs_ft/fto050920081327143194 ft/20080509/fto050920081327143194 FT.com Fri, 09 May 2008 17:20:25 GMT FT.com - Fannie Mae (NYSE:FNM), the biggest buyer of US mortgages, this week demonstrated why it is the elephant in the room when it comes to the ranks of financial institutions deemed too big to fail. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/bw/20080509/bs_bw/may2008bw2008058637135 bw/20080509/may2008bw2008058637135 BusinessWeek Online Fri, 09 May 2008 12:08:41 GMT BusinessWeek Online - At the end of 2006 a new 4,000-square-foot home with a three-car garage in a small gated subdivision in Las Vegas sold for $1 million. On May 6 the bank that owns the now foreclosed property at 7604 Noche Oscura Circle agreed to sell it for $500,000 ($32,900 below the already discounted asking price). http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080509/ap_on_bi_ge/earns_germany_allianz ap/20080509/earns_germany_allianz AP Fri, 09 May 2008 11:34:46 GMT AP - German insurer Allianz SE said Friday first-quarter net profit fell 65 percent due to difficult market conditions as it wrote down $1.3 billion tied to the U.S. subprime crisis. http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080509/ap_on_go_co/congress_housing ap/20080509/congress_housing AP Fri, 09 May 2008 10:56:58 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080509/ap_on_go_co/congress_housing"><img src="http://d.yimg.com/us.yimg.com/p/ap/20080507/capt.0fd72865c21d4b01b6ce8d7db91f3e1c.pending_home_sales_caps105.jpg?x=130&y=105&q=85&sig=l3MDkY9V.b0Fr71PahsMrQ--" align="left" height="105" width="130" alt="Two men walk by two homes for sale in Palo Alto, Calif., Wednesday, May 7, 2008. An industry group said Wednesday that pending U.S. home sales dropped to a new low in March, signaling the housing slump has yet to bottom out even as the spring sell season gets under way. (AP Photo/Paul Sakuma)" border="0" /></a>AP - Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the backing of many congressional Republicans.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/realestate/*http://news.yahoo.com/s/ap/20080509/ap_on_go_co/congress_housing"><img src="http://d.yimg.com/us.yimg.com/p/ap/20080507/capt.0fd72865c21d4b01b6ce8d7db91f3e1c.pending_home_sales_caps105.jpg?x=130&y=105&q=85&sig=l3MDkY9V.b0Fr71PahsMrQ--" align="left" height="105" width="130" alt="photo" title="Two men walk by two homes for sale in Palo Alto, Calif., Wednesday, May 7, 2008. An industry group said Wednesday that pending U.S. home sales dropped to a new low in March, signaling the housing slump has yet to bottom out even as the spring sell season gets under way. (AP Photo/Paul Sakuma)" border="0"/></a></p><br clear="all"/> (AP)