Mortgage and Financial News From 2007-10-12 Page 21
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Citigroup shakes up management
Washington Post - ... which last week forecast 60 percent declines in third-quarter earnings amid bad ... banks to take big writedowns on mortgages and other loans after the subprime mortgage ... at Merrill Lynch, global fixed income head Osman Semerci and structured credit ...
2007-10-12 01:43:00 -
TheStar.com | Business | Credit crunch hits home with mortgage hikes
Toronto Star - As Ontarians were heading to the polls this week, some of Canada's biggest banks were quietly hiking residential mortgage rates, a sign that banks continue to grapple with the credit crunch. Fears over bad loans, rising funding costs and slowing ...
2007-10-12 01:29:00 -
Banks' reports expected to shed light on health of credit markets (Market Watch)
SAN FRANCISCO (MarketWatch) -- With some of the nation's largest banks already warning of multi-billion-dollar write-downs, next week's start to third-quarter earnings season will serve as another chance for investors to gain clues about where the meltdown in credit markets stands.
2007-10-11 07:56:16 -
M&T's profit falls 5.3% as bad loans double (Baltimore Sun)
M&T Bank Corp., one of the first lenders to disclose that defaults were spreading beyond subprime mortgages this year, said yesterday that its third-quarter profit fell 5.3 percent as bad loans doubled and the company lost money on its investment in a Florida financial firm.
2007-10-12 12:41:44 -
Credit crunch hits home with mortgage hikes (Toronto Star)
As Ontarians were heading to the polls this week, some of Canada's biggest banks were quietly hiking residential mortgage rates, a sign that banks continue to grapple with the credit crunch.
2007-10-12 01:50:52 -
Business Briefs: Oct. 10, 2007 (The Record Searchlight)
• Senior Expo to be held at Gottschalks • Fundraiser benefits trip to Cambodia • Learn truth about reverse mortgages • Home loan office opens in Redding
2007-10-11 06:07:09 -
India's Production Grew More Than Expected in August (Update2)
Bloomberg - Rising industrial production has helped India's economy expand at a record 8.6 percent average pace since 2003, the second ... State Bank of India, the country's largest commercial bank, and other lenders this week cut some rates on mortgages and other ...
2007-10-12 12:39:00 -
European Growth Will Rebound in Third Quarter, Institutes Say
Bloomberg - ... noting the ``deepening'' U.S. housing slump and its impact on financial markets. ``Growth should, however, recover from its second- quarter weakness,'' they said, citing improving private consumption. Defaults on U.S. subprime mortgages ...
2007-10-11 08:11:00 -
US home foreclosures double
Financial Times - ... which compiles housing data. California had the largest number of foreclosures, with 51,259, and Florida was second, with ... Issuance of adjustable rate mortgages, the cause of many of the defaults among subprime home buyers, dropped 76 per cent ...
2007-10-11 11:49:00 -
Foreclosures ease in September but remain far above rate in 2006
Chicago Tribune - Despite the sequential decline, the September figure represents the second-highest total for filings in a single month ... Some properties might have received more than one notice if the owners have multiple mortgages. Typically, borrowers must be 60 ...
2007-10-11 11:49:00 -
UPDATE 2-US commercial paper outstanding rises 2nd week-Fed
Reuters - NEW YORK, Oct 11 (Reuters) - U.S. commercial paper outstanding rose for a second straight week on the biggest increase in financial issuance since July, although securities backed by loans like mortgages continued to struggle. The overall size of the ...
2007-10-11 11:24:00 -
Worst of U.S. subprime troubles are ahead, S&P chief economist says
International Herald Tribune - Foreclosures begun on subprime loans rose to 2.72 percent in the second quarter, the highest level in more than six years, the Mortgage Bankers Association said last month. New foreclosures on all types of loans, including mortgages given to the most ...
2007-10-11 11:49:00 -
Countrywide Says Bad Mortgages Rise, New Loans Fall (Update4)
Bloomberg - Mortgages funded by the Calabasas, California-based company last month declined to $21 billion. Countrywide's ... Nationwide foreclosures set a record in the second quarter, according to the Mortgage Bankers Association, and doubled in ...
2007-10-11 01:55:00 -
M&T's profit falls 5.3% as bad loans double
Baltimore Sun - M&T Bank Corp., one of the first lenders to disclose that defaults were spreading beyond subprime mortgages this year, said ... between what the bank pays on deposits and charges for loans - narrowed to 3.65 percent from 3.67 percent in the second ...
2007-10-12 12:10:00 -
Countrywide chief Angelo R. Mozillo to be investigated by US regulator ...
Times Online - The second time, in February, when they hit a high of $45.03, the number jumped to 580,000, according to regulatory filings ... Also in Property & Mortgages
2007-10-11 04:25:00