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Author Archives: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

Mortgage Applications Down Last Week

The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending August 8, 2008 today, showing the number of mortgage applications was down only slightly compared to the previous week.

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Fed Holds First Auction With Extended Maturity

On Monday, the Federal Reserve auctioned $25 billion in loans to banks, for the first time lengthening the pay-back period from 28 days to 84. The extension marks the central bank’s latest initiative to provide financial institutions with extra capital to combat the current credit crisis and climbing mortgage losses.

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Zaio Appoints Kirchmeyer as President

Zaio Corporation’s CEO Douglas Vincent announced last week the appointment of James A. Kirchmeyer as president of the company, which provides approximately 500 lenders nationwide with appraisal services through its real estate database and technology.

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UPDATE: Wachovia to Cut 600 More Jobs than Earlier Announced

Wachovia Corporation said yesterday in its quarterly filing with the Securities and Exchange Commission (SEC), that it will cut 600 more jobs than it previously projected. The cuts are part of Wachovia’s efforts to reduce expenses to combat losses tied to troubles with mortgage lending.

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