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Financial News
Fitch Downgrades 3 Classes of GMAC 1998-C1; Assigns Stable Outlooks - Businesswire.com
NEW YORK--( BUSINESS WIRE )--Fitch Ratings has downgraded GMAC Commercial Mortgage Securities, Inc.'s commercial mortgage pass-through certificates, series 1998-C1 as follows: --$25.2 million class H to 'B' from 'BB-'; Outlook Stable; --$14.4 million ...

BSkyB to raise $600 million in bond issue - CNN Money
NEW YORK (Associated Press) - Satellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses. BSkyB, whose biggest shareholder is Rupert ...

Movers roundup: General Growth Properties, Akamai - Boston Globe
WASHINGTON (AP) -- Shares of troubled mall owner General Growth Properties Inc. fell Thursday after The Wall Street Journal reported the company has hired bankruptcy attorneys as it struggles to refinance debt. NEW YORK (AP) -- Akamai Technologies ...

General Growth hires as debt adviser - Arlington Heights Daily Herald
General Growth Properties Inc., the real-estate investment trust that said this month it might file for bankruptcy, hired law firm Sidley Austin as financial adviser as it seeks to refinance $27.3 billion in debt. "General Growth Properties has hired ...

FDIC debt plan may spur $50 bln/month issuance-BofA - Reuters
NEW YORK, Nov 21 (Reuters) - Changes being mulled to an FDIC debt guarantee program for U.S. banks could smooth the way for several hundred billion dollars of top-rated bank debt issuance, Bank of America said in a new report. The Federal Deposit ...

New York Times Cuts Dividend by 74% - Street.Com
Late Thursday the publisher of the the Boston Globe , the International Herald Tribune and its flagship paper lowered its dividend to 6 cents from 23 cents amid a worsening advertising slump. The sector has struggled as consumers and advertisers ...

Qwest CFO Sees Strong Cash Flow, Financial Liquidity - CNN Money
NEW YORK -(Dow Jones)- Qwest Communications International Inc. (Q) Chief Financial Officer Joseph Euteneuer assured Wall Street that the company was generating enough free cash and had enough "levers" to pull to cover its debt. The Denver ...

Amgen, J.M. Smucker, Ligand: U.S. Equity Movers (Correct) - Bloomberg
Nov. 21 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading . Stock symbols are in parentheses, and share prices are as of 1:20 p.m. in New York. Metal producers advanced as gold headed for the biggest weekly gain ...

BE Aerospace, Citigroup, Foot Locker, Image: U.S. Equity Movers - Bloomberg
Nov. 21 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading . Stock symbols are in parentheses, and share prices are as of 10:20 a.m. in New York. AngloGold Ashanti Ltd. American depositary receipts (AU US) rose 28 ...

UPDATE 1-Cemex in talks with five banks to refinance debt - Reuters
MONTERREY, Mexico, Nov 14 (Reuters) - Cemex, the world's No. 3 cement maker, said on Friday it was in talks with five banks to refinance part of its debt. Cemex (CMXCPO.MX: Quote , Profile , Research , Stock Buzz )(CX.N: Quote , Profile , Research ...

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Today's Mortgage Terms starting with J

  • Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
  • Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.

    View all Terms
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