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09/28/2007 Bank fails, regulators cite mortgage-related problems
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Federal regulators have shut down NetBank, an Internet bank with no physical branches, after the bank failed to rebound from "significant losses in 2006 primarily due to early payment defaults on loans sold, weak underwriting, poor documentation, a lack of proper controls, and failed business strategies," according to a Friday announcement.
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09/28/2007 California single-family starts down 35% from last year
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Single-family housing starts in California have fallen about 35 percent for the first eight months of the year compared to the same period last year, as measured by building permits issued, the California Building Industry Association reported this week.
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09/28/2007 Home construction spending rate nears 4-year low
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The residential construction spending rate declined for the 18th straight month in August, the U.S. Census Bureau announced today, hitting its lowest level since November 2003 and dropping 16.5 percent compared to August 2006.
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09/28/2007 Goodnight, Bob
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The thing about writers is that we tend to be cranky. The shift from looking inside -- to digging down to find all those wonderful thoughts and metaphors -- to dealing with the outside -- that ever-ringing phone -- is just too harsh, and it happens too often.
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09/28/2007 An agent's closer look at Zillow
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At Real Estate Connect I had a chance to sit down for a one-on-one interview with Rich Barton of Zillow. Love them or hate them, Zillow is now generating about two-thirds as much traffic as Realtor.com. Can your business afford to ignore such a powerful place to advertise for just pennies?
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09/28/2007 Real estate rates end night mixed
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Movement in long-term mortgage interest rates varied Thursday, and the
benchmark 10-year Treasury bond yield dipped to 4.57 percent.
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09/28/2007 KB reports $35.6 million loss in Q3
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Home builder KB Home (NYSE: KBH) on Thursday reported a net loss of $35.6 million in the third quarter ended Aug. 31, compared with net earnings of $153.2 million in the same quarter last year.
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09/28/2007 A sit down with the 'Blogfather'
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Dustin Luther is one of the original real estate bloggers and the driving force behind Rain City Guide, one of the oldest and most influential real estate blogs. Now working with Move Inc., Dustin keeps himself immersed in the worlds of social media and social networking as well as advocating how agents can connect with online communities.
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09/28/2007 Freddie Mac reaches $50 million settlement with SEC
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Calling it another milestone in putting an accounting and management scandal behind it, mortgage repurchaser Freddie Mac said Thursday it had reached a $50 million settlement with government regulators over the company's restatement of three years of earnings.
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09/28/2007 Mortgage Rates Up For Third Straight Week
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McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent with an average 0.5 point for the week ending September 27, 2007, up from last week when it averaged 6.34 percent. Last year at this time, the 30-year FRM averaged 6.31 percent.
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