International Business News - WM http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif The Standard & Poor's 500 Index rose Tuesday, lifted by lower oil prices and a rise in shares of insurer MGIC Investment Corp. The S&P 500 gained 21.39 points to 1,273.70 after Federal Reserve Chairman Ben Bernanke said the central bank might extend its lending efforts to investment banks. http://www.ibtimes.com/articles/20080708/s-p-500-leaders-laggards-mtg-odp-mbi-emc-wm-x.htm Tue, 08 Jul 2008 17:03:16 EDT Signs are emerging that the U.S. housing market's long slump is likely to fester through the summer, and the real estate market may not recover for at least another year. http://www.ibtimes.com/articles/20080708/housing-market-slump-seen-stretching-further.htm Tue, 08 Jul 2008 16:37:09 EDT A measurement of pending home sales fell to the third-lowest reading on record in May as the housing market's recovery continued to prove elusive. The National Association of Realtors' seasonally adjusted index of pending sales for existing homes fell 4.7 percent to 84.7 from an upwardly revised April reading of 88.9. The index was 14 percent below year-ago levels. http://www.ibtimes.com/articles/20080708/pending-home-sales-fall-4-7-percent.htm Tue, 08 Jul 2008 11:05:16 EDT The May reading of an index that tracks pending U.S. home sales is forecast to dip after posting an unexpected increase a month earlier. The National Association of Realtors' report on pending home sales is scheduled to be released Tuesday at 10 a.m. EDT. http://www.ibtimes.com/articles/20080708/ahead-of-the-bell-pending-home-sales.htm Tue, 08 Jul 2008 06:09:59 EDT The pace of the mortgage industry's efforts to assist troubled borrowers declined in May, as critics questioned lenders' progress in aiding U.S. homeowners facing foreclosure. http://www.ibtimes.com/articles/20080702/pace-of-mortgage-aid-by-industry-dropped-in-may.htm Wed, 02 Jul 2008 16:05:16 EDT Late payments on consumer loans dipped slightly in the first three months of the year, but remained at a level not seen since the early 1990s. The American Bankers Association said Wednesday that late payments on a broad sample of consumer loans fell to 2.62 percent in the January-March quarter, down from 2.65 percent in the last quarter of 2007. http://www.ibtimes.com/articles/20080702/late-payments-on-consumer-loans-dipped-in-1q.htm Wed, 02 Jul 2008 12:32:54 EDT Mortgage application volume rose 3.6 percent during the week ended June 27, according to the trade group Mortgage Bankers Association's weekly application survey. http://www.ibtimes.com/articles/20080702/mortgage-application-volume-rises-off-2008-low.htm Wed, 02 Jul 2008 07:19:13 EDT Industry data to be released Wednesday will show whether home loan applications fell for the third straight week as mortgage rates continued to rise. The Mortgage Bankers Association is scheduled to report its index of mortgage application volume for the week ended June 27 at 7 a.m. EDT. Application volume has fallen to lowest level since late 2001 as interest rates have surged over the past month. http://www.ibtimes.com/articles/20080702/ahead-of-the-bell-mortgage-applications.htm Wed, 02 Jul 2008 06:11:28 EDT A research report released Tuesday by Keefe, Bruyette & Woods Inc. says banks would need to raise as much as $30 billion in new capital to cover a further sharp downturn in credit performance. http://www.ibtimes.com/articles/20080701/analysts-banks-might-need-extra-30b-in-capital.htm Tue, 01 Jul 2008 14:35:41 EDT Uncertainty about the scope and timing of credit losses at banks has led to widely divergent analyst earnings estimates, and recovery in the sector might not occur until 2010, analysts said Monday. http://www.ibtimes.com/articles/20080630/analyst-earnings-estimates-for-banks-widen.htm Mon, 30 Jun 2008 15:39:43 EDT Washington Mutual Inc., the nation's largest savings and loan, said Monday it replaced the president of its retail banking division, James Corcoran. Stephen Rotella, WaMu's chief operating officer and president, took over Corcoran's job of overseeing the thrift's 2,500 or so branches and its online banking operations on an interim basis as of June 27. http://www.ibtimes.com/articles/20080630/washington-mutual-replaces-retail-banking-exec.htm Mon, 30 Jun 2008 17:45:39 EDT Just as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores. http://www.ibtimes.com/data/articleimgs/81772-cardpartner-inc.jpg http://www.ibtimes.com/articles/20080628/credit-scores-hit-by-card-limits.htm http://www.ibtimes.com/articles/20080628/credit-scores-hit-by-card-limits.htm Sat, 28 Jun 2008 06:56:13 EDT Washington Mutual Inc., the nation's biggest savings and loan, spent $270,000 in the first quarter lobbying on banking, mortgage and regulatory issues, according to a recent disclosure form. http://www.ibtimes.com/articles/20080626/washington-mutual-spent-270-000-lobbying-in-1q.htm Thu, 26 Jun 2008 16:29:39 EDT Banks and thrifts may be forced to raise more capital as the ratio of non-performing assets in their portfolios rises, according to Friedman, Billings, Ramsey analyst Paul J. Miller. http://www.ibtimes.com/articles/20080626/fbr-analyst-banks-may-have-to-raise-more-capital.htm Thu, 26 Jun 2008 14:39:23 EDT Continued concern about deterioration in the credit markets has shares of financial-services firms tumbling Thursday, with most slipping more than broader market indexes. http://www.ibtimes.com/articles/20080626/sector-snap-financial-services-shares-fall.htm Thu, 26 Jun 2008 13:54:57 EDT An industry group's report due Thursday is expected to show that sales of existing homes rose by more than 2 percent in May, an indication that buyers may finally be taking advantage of sharply discounted prices. http://www.ibtimes.com/articles/20080626/ahead-of-the-bell-existing-home-sales.htm Thu, 26 Jun 2008 06:08:28 EDT The tenants evacuated from a Philadelphia apartment complex won't be moving back. About 200 residents of the Lindley Court Apartments in the Logan section of the city were ordered out Saturday by the city due to unsanitary conditions. http://www.ibtimes.com/articles/20080625/displaced-philadelphia-tenants-to-be-relocated.htm Wed, 25 Jun 2008 14:59:33 EDT Washington Mutual Corp., the country's largest savings and loan, says its shareholders have approved a $7 billion investment from private equity group TPG and other institutional investors. http://www.ibtimes.com/articles/20080625/washington-mutual-shareholders-ok-7b-investment.htm Wed, 25 Jun 2008 13:15:24 EDT Mortgage application volume fell 9.3 percent during the week ended June 20, according to the trade group Mortgage Bankers Association's weekly application survey. http://www.ibtimes.com/articles/20080625/mortgage-application-volume-falls-9-3-percent.htm Wed, 25 Jun 2008 07:23:17 EDT Industry data to be released Wednesday will show whether home loan applications fell again last week as mortgage rates continued to rise. The Mortgage Bankers Association is scheduled to report its index of mortgage application volume for the week ended June 20 at 7 a.m. EDT. Application volume has been hovering at lows not seen since 2002 as interest rates surge. http://www.ibtimes.com/articles/20080625/ahead-of-the-bell-mortgage-applications.htm Wed, 25 Jun 2008 06:12:34 EDT