Mortgage and Financial News From 2007-10-17 Page 28
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Could Gore Kill Iowa?
Slate - ... economist/blogger Tyler Cowen said he didn't think the subprime mortgage crisis was ... crisis because a) it was the story of the moment; b) economic news is always bad ... few things the Republicans, and Bush's policies, might be able to take some credit ...
2007-10-17 01:09:00 -
Tokyo shares end morning lower amid resurgence of bad debt fears ...
Forbes - ... on Wall Street, where a plan by major US banks to set up a fund to help credit markets recuperate revived worries about bad debt. The financial sector led the declines after Nomura Holdings Inc said Monday it will exit the residential mortgage-backed ...
2007-10-15 09:14:00 -
China stalks Bear Stearns
New York Daily News - ... went bankrupt and lost billions of dollars on bad bets in the subprime mortgage industry. Bear Stearns' profits were among those hardest hit by rising delinquencies and defaults among subprime mortgages - loans given to customers with poor credit ...
2007-10-16 10:31:00 -
3 Largest Banks Team on Rescue Fund
Baltimore Sun - ... up to create a rescue fund of sorts -- potentially as large as $100 billion -- to help bail out troubled global credit ... That followed a crisis in the mortgage industry, as people defaulted on their home loans at a skyrocketing rate. It caused a ...
2007-10-15 04:49:00 -
Stocks fall on credit woes
Akron Beacon Journal - Stocks fall on credit woes U.S. mortgage losses push bank earnings lower; tech companies down on concerns over oil prices By Kate ... Despite the bad news, the stock market is holding together, or at least, it's not in a downward-spiral sinking ...
2007-10-16 10:17:00 -
How the World Works
Salon - But then came the housing bust, and the subsequent revelation that complex financial instruments whose value was tied to the likelihood that people with bad credit and no documented income would regularly make their mortgage payments, might be, hmm ...
2007-10-16 03:29:00 -
Sanyo gives up on chip unit sale amid credit crunch
Boston Globe - Rising defaults in the U.S. subprime mortgage sector and a backlog of unsyndicated ... approached to provide funds, Merrill Lynch , has also been hit by the credit crisis. On October 5, Merrill said it would write down $5.5 billion for bad bets on ...
2007-10-16 11:43:00 -
Sanyo gives up on chip unit sale amid credit crunch (Reuters via Yahoo! News)
Sanyo Electric Co Ltd has given up on the sale of its microchip unit after private equity buyer Advantage Partners LLP failed to secure funds for the deal in tougher credit markets, dealing a blow to its share price.
2007-10-16 10:28:53 -
Wells Fargo hit by bad debt (BBC News)
Wells Fargo, the fourth-largest US bank, reveals its exposure to bad mortgage debt totals $490m.
2007-10-16 08:53:25 -
Bernanke has warning for Wall Street
CNN Money - ... to appropriately value subprime and jumbo mortgages. Investors looking for a sign that the Fed may cut rates again at the conclusion of a two-day meeting on October 31 may be disappointed though. He indicated that the Fed "was prepared to reverse the ...
2007-10-14 05:54:00 -
Branson set to hear from Northern Rock
MSN UK News - Virgin Money would reverse into the current public company," Branson said. "We're obviously hopeful the current shareholders ... The idea is to allow consumers to save money on commissions while garnering the tax deductions on mortgages that are normally ...
2007-10-16 02:10:00 -
Dollar sheds value on rate cuts
DAWN Group - The rupee managed to reverse its overnight weakness in the inter bank market on the second trading day as it gained four ... 38 yen, a gain of 0.4 percent from 116.96 yen and its highest level since a credit crisis sparked by losses on US mortgages ...
2007-10-16 10:46:00 -
New Branson venture helps keep it in the family
MSNBC - CircleLending now has $200 million in loans on its books — ranging from short-term loans for debt refinancing or other personal needs, to reverse home mortgages and small business expenses. Because borrower and lender know one another, loans ...
2007-10-15 12:31:00 -
Calendar -- Des Moines
Des Moines Register - Understand the basics about reverse mortgages. Wells Fargo Bank, 2840 Ingersoll Ave. 697-5066. Register by Wednesday. I-235 Reconstruction Ribbon-Cutting - 3 p.m. Thursday. Fifth Avenue Bridge, Fifth Street over I-235. tma@avoidtherush.org ; 286-4969; ...
2007-10-16 01:13:00 -
NovaStar's sale of servicing rights could bring large job cuts
MSN MoneyCentral - This year, the company has dropped its status as a real estate investment trust, cut back its production of new mortgages and conducted a reverse stock split to prop up its share price. "This action is expected to reduce debt and risks related to ...
2007-10-16 03:15:00