S&P index shows home prices post third-straight monthly gain in JulySeptember 30th, 2009 Index shows home prices rose for 3rd month in JulyNEW YORK — Home prices rose for the third month in a row in July, new data Tuesday showed, more proof a fragile housing recover is underway. The Standard & Poor's/Case-Shiller home price index of 20 major cities rose 1.2 percent from June to a reading of 143.05.
S&P index shows home prices post sixth straight month of year-over-year improvementSeptember 30th, 2009 Index shows home prices increase from June to JulyNEW YORK — A closely watched index of home prices shows year-over-year improvement for the sixth month in a row and prices in all 20 cities rose from June to July. The Standard & Poor's/Case-Shiller home price index of 20 major cities released Tuesday rose 1.2 percent from June.
Fed examiners stepping up oversight of commercial real estate loans at smaller banksSeptember 16th, 2009 Fed tightens review of commercial real estate riskWASHINGTON — The Federal Reserve is stepping up its scrutiny of commercial real estate loans at smaller banks, where delinquency rates have risen sharply. Instead of reviewing individual banks, Fed examiners are comparing results across the industry to better assess broader risks, a Fed official said Wednesday.
IRS issues rules making it easier to refinance some commercial real estate mortgagesSeptember 15th, 2009 IRS issues rules to ease mortgage refinancingWASHINGTON — The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. The rules would allow commercial loans that are part of investment pools known as Real Estate Mortgage Investment Conduits, or REMICs, to be refinanced without triggering tax penalties for investors.
Federal Reserve imposes restrictions on banks in Nebraska and Missouri and their ownerSeptember 3rd, 2009 Federal Reserve imposes restrictions on 2 banksOMAHA, Neb. — The Federal Reserve has imposed restrictions on two correspondent banks in Nebraska and Missouri owned by Midwest Independent Bancshares Inc.
Fitch: Banks face more difficult credit trends amid exposure to commercial real estate lossesAugust 21st, 2009 Fitch: Banks face more difficult credit trendsNEW YORK — Fitch Ratings analysts said Friday they expect U.S. banking companies to continue to face rising credit costs and a difficult operating environment in the coming months.
Regions cut to Hold from Buy, analyst cites share price surge, commercial real estate concernsAugust 20th, 2009 Ahead of the Bell: Regions FinancialNEW YORK — Regions Financial Corp. was downgraded Wednesday by an analyst because a recent surge in its share price brought it in line with expectations, and the regional bank could still face steep losses from commercial real estate exposure.
Philly newspapers file Ch. 11 reorganization plan, hope to emerge debt-freeAugust 20th, 2009 Philly newspapers file debt-free bankruptcy planPHILADELPHIA — Philadelphia's two large daily newspapers hope to emerge from bankruptcy protection debt-free by paying creditors $67 million in cash and real estate to settle nearly $400 million in debt. Philadelphia Newspapers filed its reorganization plan Thursday, six months after filing for Chapter 11 bankruptcy.
Commercial real estate market woes seen as drag on US economic recoveryAugust 12th, 2009 Recession and debt drag on commercial real estateLOS ANGELES — Even as the housing market starts to show signs of recovery, fortunes for commercial real estate are looking increasingly grim — and that could spell trouble for the fragile U.S. banking sector.
Lending across consumer, commercial lines flat in May for banks that received bailout fundsJuly 16th, 2009 Lending flat in May among top banks in bailoutNEW YORK — Lending among the biggest banks to receive government bailout funds was flat in May as the worsening recession led to efforts to pay off debt, the U.S. Treasury said.
Fed official says central bank stepping up focus on commercial real estate loansJuly 9th, 2009 Fed focused on commercial loansWASHINGTON — A Federal Reserve official says the central bank is paying extra attention to banks' books as losses from sour commercial real estate loans keep mounting. Jon D. Greenlee, associate director of the Fed's division of banking supervision, says in remarks prepared for a Congressional hearing Thursday that the central bank has stepped up training of its bank examiners so they are ready to deal with rising losses from the commercial real estate industry.
Experts, lawmakers warn of mushrooming crisis in commercial real estateJuly 9th, 2009 Commercial real estate woes growWASHINGTON — Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday. "The commercial real estate time bomb is ticking," said Rep.
Widely watched index shows home prices down by 18.1 pct. in April, but trend is stabilizingJune 30th, 2009 Home prices post 18.1 percent annual drop in AprilNEW YORK — A key housing index shows a clear trend that home price declines are moderating. The Standard & Poor's/Case-Shiller index released Tuesday showed home prices in 20 major cities tumbled by 18.1 percent from April 2008.
Investors show no appetite for Fed program to bolster commercial real estate loansJune 17th, 2009 Commercial real estate loans draw no interestWASHINGTON — Investors showed no appetite for commercial real estate loans in the debut of a government plan intended to boost their availability. The Federal Reserve Bank of New York said it received no investor requests for loans by Tuesday's deadline.
Schwarzenegger acknowledges poor economy makes this a bad time to sell California's assetsJune 13th, 2009 Schwarzenegger: A bad time to sell state assetsSACRAMENTO, Calif. — Gov. Arnold Schwarzenegger says it's the wrong time to consider putting California landmarks up for sale — less than a month after he proposed doing just that.
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