Mortgage and Financial News From 2007-10-16 Page 22
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Builders Turn to Credit Repair
Wall Street Journal - When people have bad credit, they generally don't make good homeowners," says Jeffrey Guarino, managing director of Gotham Capital Mortgage Corp. in New York. Hovnanian disagrees. "There are certain things that if a customer doesn't pay, it shows no ...
2007-10-15 04:49:00 -
Asian stock market summary
Forbes - ... led by the financial sector, amid renewed concerns about the health of US credit ... firm Nomura Holdings Inc said yesterday that it will exit the US residential mortgage ... in recent gains following Wall Street's pullback on renewed concerns about bad ...
2007-10-16 02:29:00 -
London shares open lower, await UK CPI figures, Northern Rock falls ...
Forbes - ... stocks pulled back sharply as news that major US banks will set up a fund to help bail out the credit markets stirred concerns about bad debt ... The company said it lost more than 3 bln usd in mortgage-backed security losses, leveraged debt write-downs ...
2007-10-16 02:43:00 -
Paulson has "no interest" in speculator bailout: report
Reuters - Later on Tuesday Paulson will call for new regulations for mortgage lenders, changes in credit-rating agencies' practices and stepped-up ... critics to question whether the move is intended to rescue some banks and other big investors from bad bets ...
2007-10-16 05:42:00 -
Citigroup profit takes 57% drop
Orlando Sentinel - The nation's largest bank cited losses from bad loans, mortgage write-offs and other credit issues in reporting its earnings falloff. Citigroup's banking services include nationwide consumer-finance operations. Its CitiFinancial consumer-lending arm ...
2007-10-16 02:43:00 -
New bank fund no panacea for credit crunch
Reuters UK - ... massive new fund set by major U.S. banks to soothe worries about the credit crunch ... but evidence that financial institutions are taking an even bigger hit from bad ... SIVs were set up by banks to buy assets like mortgage securities, and financed their ...
2007-10-16 01:17:00 -
Tokyo shares close lower as US credit market worries return - UPDATE
Forbes - The bank's joint plan with two other major US banks to set up a fund to help bail out the credit markets also stirred concerns about bad debts ... in Tokyo Tuesday, also because Nomura Holdings Inc said Monday it will exit the residential mortgage ...
2007-10-16 01:24:00 -
CHRONOLOGY-The credit crunch of 2007
Reuters - ... Oct 16 (Reuters) - The severe financial market credit ... bonds and loans which included subprime mortgage debt, widen sharply in December and January of 2007 -- * Feb 8, 2007 - HSBC says more funds will have to be set aside to cover bad debts in U ...
2007-10-16 04:52:00 -
US Bancorp 3rd-quarter earnings drop 2 percent on higher expenses ...
International Herald Tribune - Bancorp said Tuesday third-quarter earnings slipped 2 percent as operating expenses and credit provisions rose amid trouble on the mortgage and ... 9 percent to $1.63 billion (€1.15 billion), and the company boosted its provision to cover bad ...
2007-10-16 05:42:00 -
Citigroup heads lower in premarket, after 3Q profit hurt by credit ...
CNBC - ... credit markets. Citigroup said Monday mortgage ... mortgage-backed security losses of $1.56 billion were more than the bank previously estimated, due to an acceleration in home loan delinquencies in September. Deterioration in the consumer credit market also brought a $2.24 billion boost in bad ...
2007-10-16 06:11:00 -
Musings on root canal, bad dreams and the big C
OpEdNews.com - I had visions of bouncing checks, bad credit ratings, missed mortgage payment with looming foreclosure, scads of credit card late fees – the works. I think that we have now straightened things out but I won’t feel safe again until I get my monthly ...
2007-10-16 05:20:00 -
Stocks Are Poised for Another Retreat
Newsday - Investors might get a broader glimpse about how tightening credit markets and subprime mortgage woes affected several big regional banks. KeyCorp said before the open that profit fell 33 percent because of credit market volatility; while Wells Fargo ...
2007-10-16 05:06:00 -
Wall Street falls amid unease over bad debt; oil settles above $86 a barrel (Southeast Missourian)
NEW YORK -- Stocks pulled back sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt and as oil prices surged to $86 per...
2007-10-15 10:45:38 -
Bad debt, oil prices concern investors (Daily Press)
Dow drops more than 100 points as news of a credit bail-out fund emerges. Stocks pulled back sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt and as oil prices surged to $86 per barrel for the first time. The Dow Jones industrial average lost more than 100 points.
2007-10-16 01:08:52 -
Northern Rock didn't realize how bad markets would get, or how quickly (The Globe and Mail)
LONDON — Northern Rock PLC executives said Tuesday they believed the mortgage lender was prepared for some tightening of credit availability, but nobody could have predicted the market shutdown that led to Britain's first bank run in almost a century.
2007-10-16 06:35:22