Mortgage and Financial News From 2007-8-23 Page 16

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  • Bank and thrift profits decline 3.4#x25 amid mortgage defaults (Deseret Morning News)

    Surging mortgage defaults sliced into the bottom line of U.S. banks and thrifts in the second quarter. Profits fell 3.4 percent, to $36.7 billion, data released Wednesday show.
    2007-08-23 06:29:41

  • Mortgage defaults take toll on profits (Houston Chronicle)

    Surging mortgage defaults whacked U.S. banks and thrifts in the second quarter. Profits fell 3.4 percent to $36.7 billion, and reserves to cover loan losses soared 75 percent from a year ago, regulators said Wednesday.
    2007-08-23 05:49:02

  • Corporate Bond Risk Falls in Europe as Mortgage Concerns Ease (Bloomberg.com)

    Aug. 23 (Bloomberg) -- The risk of owning corporate bonds in Europe fell to the lowest in more than a month after Bank of America Corp. stepped in to support the biggest U.S. mortgage lender, according to traders of credit-default swaps.
    2007-08-23 09:56:14

  • 2Q bank profits down amid mortgage defaults (KRGV-TV Texas)

    WASHINGTON (AP) - Surging mortgage defaults ate into the bottom line of U.S. banks and thrifts in the second quarter. The Federal Deposit Insurance Corporation says profits fell 3.4 percent.
    2007-08-22 07:14:03

  • A New Mortgage Protection Insurance Policy Now Offers Even Better Value for UK Homeowners (PRWeb)

    For many years now there have been some excellent mortgage protection insurance products available in the UK. The main product, Mortgage Payment Protection Insurance or MPPI has been sold online since 1999 by UK companies and their affiliate networks. But now there is a new Mortgage Protection that is cheaper, but is not yet available online. This new 'Red House MPPI' from British Insurance ...
    2007-08-23 09:08:37

  • Bank profits fall amid rising defaults

    St. Louis Post-Dispatch - INTERNET HOME OF: St. Louis Post-Dispatch | Suburban Journals | St. Louis Best ... WASHINGTON — Surging mortgage defaults whacked banks and thrifts in the second ... borrowers with weaker credit histories, which initially feature low interest rates ...
    2007-08-23 08:09:00

  • Mortgage Q & A

    Boston Globe - The Fed has a Sept. 18 meeting scheduled at which it could cut the benchmark interest rate from 5.25 percent, which would have more impact on mortgage rates. Q: Should I do anything differently before I start looking for a home? A: David Crowley, a ...
    2007-08-21 12:55:00

  • BOJ holds short-term rates steady at 0.5%

    Marketwatch - HONG KONG (MarketWatch) -- Japan's central bank kept interest rates on hold at the end of its two-day policy board meeting Thursday, as policy makers opted for more time to assess the economy and the impact upon domestic prices in the wake of the ...
    2007-08-23 04:42:00

  • Australian Banks' Debt Risk Falls on Countrywide Credit Boost

    Bloomberg - ... 23 (Bloomberg) -- The risk of owning Australian bank debt fell after Countrywide Financial Corp., the biggest U.S. mortgage ... Central Banks See Turmoil Sparing Growth as Rates Rise From Korea to Chile Pimco's Gross Urges Bush Administration ...
    2007-08-23 08:24:00

  • MOODY'S $1.5B RATINGS RIP

    New York Post - ... Moody's Investors Service lowered ratings on $1.5 billion of subprime-mortgage securities created in the second half of 2005 because of higher-than-anticipated delinquency rates. The cuts affect 120 classes of securities backed by first-lien home ...
    2007-08-23 07:12:00

  • U.S. mortgage applications fall in latest week-MBA

    Reuters - The MBA's purchase index, a gauge of loan requests for home purchases, slipped 5 percent to 441.5. Fixed 30-year mortgage rates averaged 6.49 percent last week, excluding fees, up from 6.45 percent the prior week. © Reuters 2007. All Rights ...
    2007-08-22 02:23:00

  • Toll Brothers Can Take a Punch

    BusinessWeek - Nevertheless, tightening credit standards will likely shrink the pool of potential home buyers: Mortgage market liquidity issues and higher borrowing rates may impede some customers from closing, while others may find it more difficult to sell their ...
    2007-08-23 06:08:00

  • Mortgage job-cutting cascades

    Rochester Democrat and Chronicle - For the first half of the decade, the nation's housing market was booming and mortgage companies grew quickly. But as home values in many cities declined the past two years and interest rates started to rise, the number of delinquencies and defaults ...
    2007-08-23 08:38:00

  • U.S. mortgage crisis widens (Reuters.co.uk)

    NEW YORK (Reuters) - Fallout from the U.S. mortgage and credit crisis spread on Wednesday as Accredited Home Lenders Holding, HSBC Holdings and Lehman Brothers Holdings announced job cuts and concern mounted about the longer-term impact on the economy.
    2007-08-23 06:55:43

  • More bankruptcies, job cuts, survival loans as mortgage shakeout continues (Seattle Times)

    As the mortgage shakeout forces dozens of home lenders into bankruptcy, some are merely going into something like suspended animation &...
    2007-08-22 09:17:27

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