Mortgage and Financial News From 2007-12-13
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Survival key theme at housing forum
San Diego Union-Tribune - Over the next year, home prices, which have dropped about 11 percent since their ... knows the end is nowhere near” on housing's downturn, and positive mortgage ... have not dropped more than other places and that its default and foreclosure rates ...
2007-12-13 03:12:00 -
Digital Camera Essentials
NetGuide Web - There’s a bit of belt-tightening going on a around New Zealand at the moment. Rising mortgage rates are putting the squeeze on home owners, fuel prices are steadily increasing and personal tax cuts aren’t on the agenda. But don’t ...
2007-12-13 04:23:00 -
Asia-Pacific's Economy Likely to Slow
Associated Press - Make Missoulian.com your home page Get Firefox! ... slowdown in the U.S. economy and potential spillover from the subprime mortgage ... include further tightening of global credit, abrupt changes in exchange rates and ...
2007-12-13 05:42:00 -
A grand move, but big enough?
News.com.au - Macquarie Bank interest rate strategist Rory Robertson held out a torch of hope to home owners. He said the major banks may independently announce a top-up in headline mortgage rates, wiping out any need for the RBA to increase interest rate to 7 per ...
2007-12-13 05:56:00 -
HBOS Writes Down Assets, Says Retail Profit to Drop (Update4)
Bloomberg - HBOS had the biggest drop in more than four years of London trading after Finance Director Phil Hodkinson told analysts on a conference call that increased funding costs are offsetting higher rates on mortgage loans. Profit margins will fall more ...
2007-12-13 02:43:00 -
Happy New Year?
Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... Tuesday the Fed cut rates by another .25%, hoping to reignite the credit markets ... PNC Bank said it was writing down $1.5 billion of commercial mortgage holdings. The ...
2007-12-13 02:57:00 -
Libor Stays at 7-Year High as Credit Squeeze Persists (Update1)
Bloomberg - It averaged 25 basis points in the first half of the year, before U.S. subprime-mortgage losses contaminated money markets. Rates at their highest since December 2000 suggest the first coordinated central bank action since the Sept. 11 ...
2007-12-13 05:35:00 -
Sallie Mae Lowers Its Profit Forecast for 2008
The Ledger - Defaults are rising on student loans, and credit-market tremors similar to those linked to the mortgage crisis have begun to show up in the $85 billion student-loan market. Last Friday, First Marblehead Corp., which packages student loans for sale to ...
2007-12-13 02:50:00 -
WestLB owners push merger with Helaba
MSNBC - The smallest of Germany's Landesbanken, with headquarters in Leipzig, had to be bailed out by fellow public banks this summer after buying American mortgage-backed securities in grand style and then getting caught up in the US home loans crisis. To ...
2007-12-13 04:02:00 -
Lehman Beats Estimates After Limiting Mortgage Losses (Update1)
Bloomberg - Lehman plans to eliminate 2,500 mortgage-related jobs and shut its subprime lending unit, BNC Mortgage LLC, in August as U.S. foreclosures rose to a record. BNC, which was making more than $2 billion of home loans a month last year, cut lending to ...
2007-12-13 05:49:00 -
Countrywide November loan funding drops 40 percent
CNBC - The lender said average daily loan application activity was $1.9 billion in November, a 32 percent decline from a year earlier. The company's mortgage loan pipeline, or loans in process, was $42.6 billion at November 30, down from $62 billion a ...
2007-12-13 05:49:00 -
Hong Kong shares close sharply lower as Fed scheme sparks credit ...
Forbes - Investors sold down properties as they set aside local banks' announcements yesterday of a 25 basis point cut in their prime rates, a move widely expected to encourage more purchases of apartments with cheaper mortgage loans. Cheung Kong (other-otc ...
2007-12-13 02:43:00 -
Company Profile For Korea Exchange Bank
Reuters UK - Korea Exchange Bank (the Bank) is a financial and banking service provider. The Bank's offerings are organized in two main groups. Its personal finance services include deposits, trusts, mortgage loans, unsecured personal loans, loans secured by ...
2007-12-12 11:08:00 -
Security Capital Assurance Ltd Provides Additional Commentary on Fitch ...
Forbes - ... of equity pursuant to the company's capital plan; higher risk of loss in connection with obligations guaranteed by the Company due to recent deterioration in the credit markets stemming from the poor performance of subprime residential mortgage loans ...
2007-12-13 05:35:00 -
Auto loan delinquencies take a huge jump
Detroit News - First came housing loans and the subprime-mortgage crisis. Now, signs of stress are creeping into another key consumer area: auto loans. Delinquencies in the auto-loan market are ticking up to their highest level in several years. Lenders are ...
2007-12-13 12:41:00