Mortgage and Financial News From 2007-10-16 Page 25
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Japanese Stocks Decline on Renewed U.S. Subprime Loss Concern (Bloomberg.com)
Oct. 16 (Bloomberg) -- Japanese stocks dropped, led by banks such as Mitsubishi UFJ Financial Group Inc., after Citigroup Inc. warned that subprime mortgages in the U.S. will continue to plague financial markets.
2007-10-16 12:06:30 -
Nomura Falls On Retreat From U.S. Mortgage Market (Forbes)
Shares of the Japanese brokerage drop 1.2% after it announces a pullback from America and large expected second-quarter losses.
2007-10-15 08:32:10 -
Fewer Subprime Mortgages, Yes, But We're No L.A. (The New York Observer)
New data from NYU's Furman Center for Real Estate and Urban Policy shows (PDF) that the rate of new subprime mortgages in New York City declined from 2005 through 2006. The rate of subprime lending in the five boroughs dropped from 22.9 percent of conventional mortgages issued by subprime lenders to 19.8 percent in 2006. But here's the bad news in two parts: First, this annual decline ...
2007-10-15 09:26:23 -
Junk mortgages under the microscope (CNN Money)
It's getting hard to wrap your brain around subprime mortgages, Wall Street's fancy name for junk home loans. There's so much subprime stuff floating around - more than $1.5 trillion of loans, maybe $200 billion of losses, thousands of families facing foreclosure, umpteen politicians yapping - that it's like the federal budget: It's just too big to be understandable.
2007-10-16 02:52:17 -
The consumer buying binge is over
CNN Money - A year or two back you could observe that interest rates were rising as the Fed kept ratcheting up, cash-out mortgage refinancings were declining, the housing ... The only reason it didn't rise in August as well, says New York University professor ...
2007-10-16 03:33:00 -
German Investor Confidence Probably Fell in October (Update1)
Bloomberg - U.S. mortgage defaults made banks reluctant to lend, jeopardizing economic growth by ... in early September, ECB President Jean-Claude Trichet said Oct. 9 there are only ... He forecasts the ECB will resume raising interest rates next year. ...
2007-10-16 01:53:00 -
Banks to Establish a Credit Market Bailout Fund
The Ledger - This time around, the banks hope to not only prevent credit problems from spreading, but also to bail ... The SIVs used short-term commercial paper, sold at low interest rates, to buy longer-term mortgage-backed securities and other instruments with ...
2007-10-16 02:57:00 -
Junk mortgages under the microscope
CNN Money - Meet GSAMP Trust 2006-S3, a $494 million drop in the junk-mortgage bucket, part of the more than half ... However, the interest on the securities that GSAMP issued ran to only about 7%. (We say "about" because some of the tranches are floating-rate rather ...
2007-10-16 02:50:00 -
UK Sept annual CPI remains unchanged vs Aug at 1.8 pct
Forbes - Housing costs were up only 2.3 pct against August's 2.8 pct rise. Another large downward ... expectations for a more modest fall to 4.0 pct, and was due to smaller rises in mortgage payments compared with last year, when the BoE had raised interest rates
2007-10-16 02:43:00 -
China's CITIC bids for Bear Stearns stake
Times Online - CITIC’s interest in Bear Stearns was revealed by Jiang Dingzhi, vice-chairman of ... has so far emerged to be one of the worst hit in America’s sub-prime mortgage ... which valued the country’s seventh largest bank at $28.9 billion, was only the ...
2007-10-16 02:14:00 -
MKB UNIONBANK WITH LOWEST CREDIT INTEREST RATES AT BULGARIA’S ...
Sophia Echo - ... Stroiko 2000 was to see MKB Unionbank mortgage loans with a promotional interest rate of 6.45 per cent, regardless of the client’s contribution to the property purchase, which is usually the defining parameter. The annual service fee was only 6.7 ...
2007-10-16 02:36:00 -
Get Rich Off of Liberal Bias
Slate - ... Institute, economist/blogger Tyler Cowen said he didn't think the Sub-prime mortgage ... basic ideological structure of the MSM doesn't show signs of rapid change (only ... her TV job when Telemundo assigns her to Riverside to avoid a conflict of interest ...
2007-10-16 03:26:00 -
Hong Kong shares close lower as US rate worries trigger profit-taking ...
Forbes - ... sharply lower as fresh worries that the US Federal Reserve may not cut interest ... on worries that it may have to make more provisions for its US subprime mortgage ... Analysts had forecast the site would only fetch about 290 mln hkd. China ...
2007-10-16 03:33:00 -
Wachovia Cooments On Recent Turmoil In Mortgage Market (Nasdaq)
(RTTNews) - Mark Vitner and Adam York from Wachovia commented on Monday that the recent turmoil in the mortgage market and near shutdown of the subprime lending market is further restricting the supply of qualified homebuyers.
2007-10-15 12:24:06 -
CHRONOLOGY-Troubles at mortgage lender Northern Rock (Reuters via Yahoo! UK & Ireland News)
Northern Rock's top executives will face a grilling from parliamentarians on Tuesday, a month after the global credit crunch first forced the mortgage lender to turn to the Bank of England for funding help.
2007-10-15 11:54:00