Home Builders Hire Some Jumbo Lobbying Help (CQPolitics.com)
CQPolitics.com - The National Association of Home Builders is bringing out the big guns for its lobbying battle on the housing bill.
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KB Home 2Q loss widens on sales slump, charges (AP)
AP - KB Home’s latest quarterly results capped a week of discouraging trends for the homebuilding sector Friday.
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Massachusetts charges five in mortgage scam (Reuters)
Reuters - Massachusetts authorities on Friday
charged a mortgage broker and four employees of U.S. financial
institutions, including Bank of America Corp, with creating a
mortgage-fraud ring that relied on phony savings-account
statements.
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Resolution scraps investment plan for Bradford & Bingley (AFP)
AFP - British investment group Resolution said Friday it had abandoned its funding plan for home-loans provider Bradford & Bingley because of opposition from management at the group it sought to buy.
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KB Home posts deeper loss (Reuters)
Reuters - KB Home , the No. 5 U.S. home
builder, posted a deeper quarterly loss on Friday on tumbling
revenue as the United States faced its deepest housing slump in
decades.
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Mozilo Exits Under a Cloud
Angelo Mozilo, slated to step down as Countrywide’s chief executive on Tuesday, is departing with a devalued reputation partly because he stayed too long and at times ran the publicly traded mortgage lender as if it were his own company.
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KB Homes: ‘Persistently Poor Demand’
KB Home’s quarterly loss nearly doubled as prices fell amid a continuing housing downturn and credit crisis.
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Tennis’s Wilander Lists Home in Sun Valley
Tennis’s Mats Wilander has listed his home in Idaho for $8.5 million … In Washington, a manufacturing executive has listed a condominum for what may be the city's highest-ever price for an apartment … plus more. Photos
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Renovators in Limbo
Lenders are cutting off more home-equity lines of credit and limiting new ones. These cutbacks are crimping homeowners’ plans for costly improvements and dinging the remodeling industry.
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Post Properties Finds No Takers
Post’s stock fell much further than the overall market Thursday after announcing that “all potential bidders” had withdrawn from its five-month sale process.
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