Mortgage and Financial News From 2007-11-3 Page 11
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Citigroup, the world's biggest bank, is drawn into global credit ...
Guardian Unlimited - ... this weekend, leading to speculation of a top-level management upheaval as credit ... Wall Street sources have accused Merrill of temporarily shifting billions in mortgage ... In a bad outlook for motorists already facing fuel prices around £1 a litre on ...
2007-11-02 11:08:00 -
Analysts issue mortgage warning
Seattle Times - ... as one widely watched analyst said investment banks face $10 billion or more in write-downs this quarter from bad mortgage debt ... The downgrades and the commentary renewed fears of a repeat of August, when stocks sank, credit markets locked up and ...
2007-11-03 12:06:00 -
Debt warnings renew fears of banking crisis (The Philadelphia Inquirer)
NEW YORK - Wall Street turned on itself yesterday, as one widely watched analyst said investment banks face $10 billion or more in write-downs this quarter from bad mortgage debt, and another downgraded much of the banking sector on similar fears. The downgrades and the commentary renewed fears of a repeat of August, when stocks sank, credit markets locked up, and banks slashed the value of ...
2007-11-03 01:06:16 -
Banks downgraded on writedown warnings (The Charlotte Observer)
Wall Street turned on itself Friday, as one widely watched analyst said investment banks face $10 billion or more in writedowns this quarter from bad mortgage debt, and another downgraded much of the banking sector on similar fears. The downgrades and the commentary renewed fears of a repeat of August, when stocks sank, credit markets locked up and banks slashed the value of their investment ...
2007-11-03 12:09:41 -
Banks' bad numbers suggest good audits (The Charlotte Observer)
Corporate auditing firms are showing signs that they learned their lesson from the bad old days of Enron and WorldCom. And if they are holding companies' feet to the flames on questionable accounting moves, that's nothing but good news for investors. This has to do with how companies value their risky mortgage assets. Auditors are collectively saying they will take a hard-line approach to how ...
2007-11-03 12:09:10 -
Bad mortgage debt weighs on Wall Street (Daily Press)
Wall Street turned on itself Friday, as one widely watched analyst said investment banks face $10 billion or more in write downs this quarter from bad mortgage debt, and another downgraded much of the banking sector on similar fears.
2007-11-03 01:20:49 -
Mortgage credit-score fraud still unchecked (Seattle Times)
Credit-score inflation schemes for mortgage applicants haven't been reined in, worsening industry problems.
2007-11-03 12:25:27 -
Fed cuts by quarter-point, says that may be enough
Marketwatch - ... remain unsettled or if it appears the economy is slowing unduly. At the same time, the statement would allow them to reverse ... downs by Wall Street brokerage firms from their holdings of sophisticated derivative products linked to subprime mortgages ...
2007-10-30 05:57:00 -
Reserve Bank's decision fails to rate
The Australian - The reverse rule would apply if you were already in mortgageville. An interest rate move would put at risk the great ... Translation: those without mortgages are generally Labor voters, and will answer any question that pits Rudd against Howard ...
2007-11-01 05:55:00 -
Mold problem proves costly (Pittsburgh Post-Gazette)
Q. I am a single middle-aged woman with my 92-year-old mother living with me and recently put an offer on a house. ...
2007-11-02 09:18:21 -
Truth Squad: Reverse Mortgages (KBCI Boise)
Local banks and mortgage companies are pushing a unique mortgage loan that sounds more like you just won the lottery. Instead of making monthly payments, you get monthly payments, and you don't have to pay it back. They're called reverse mortgages, but you need to proceed with caution.
2007-11-02 03:54:43 -
Intercontinental Exchange October Trading Jumps 24% (Update1)
Bloomberg - The Federal Reserve cut the benchmark overnight lending rate between banks on Oct. 31 for a second time as increased defaults on home mortgages and tightening credit markets have increased concern about a slowdown in U.S. economic growth. CME Group ...
2007-11-02 01:36:00 -
Citigroup Chief Is Set to Exit Amid Losses
New York Times - ... and discuss the possibility of another write-off, just weeks after announcing large losses related to subprime mortgages and ... Prince would become the second chief executive to lose his job in the wake of the subprime mortgage problems. Earlier this ...
2007-11-03 01:39:00 -
Quest Reports Its Financial Results for Third Quarter 2007 and ...
Market Wire - At September 30, 2007, the real estate mortgages were located as follows: 43% in British Columbia, 44% in Alberta, 11% in Ontario and 2% in other; and 93% were first mortgages and 7% were second mortgages. As at September 30, 2007, the Company's loan ...
2007-11-02 04:49:00 -
Fannie CEO earned $12.5M in 2006
Boston Globe - Washington-based Fannie Mae, which is the largest U.S. buyer and guarantor of home mortgages and the second-largest U.S. financial institution after Citigroup , saw its profit tumble 36 percent in 2006. Fannie Mae has been remaking itself and catching ...
2007-11-02 01:50:00