Mortgage and Financial News From 2007-10-15 Page 16

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  • Citigroup's lower earnings top estimates

    CNN Money - ... come just two weeks after Citigroup warned its quarterly results would fall by as much as 60 percent because of bad subprime bets. "This was a disappointing quarter, even in the context of the dislocations in the sub-prime mortgage and credit markets ...
    2007-10-15 04:10:00

  • Wall Street trio poised to unveil $100bn fund to fight American credit ...

    Times Online - ... find it even harder to borrow money from each other – which would lead to financial institutions reining in mortgage and credit ... are funds that own assets backed by sub-prime mortgages, home loans made to borrowers with low incomes and bad credit ...
    2007-10-15 03:27:00

  • Wall Street Heads to Mixed Open

    Times Daily - ... of a string of earnings reports set to be released, and news that major U.S. banks will set up a fund to bailout the credit ... financial institution, reported before the bell that third-quarter results fell 57 percent because of investments in mortgage ...
    2007-10-15 09:32:00

  • Big Banks Announce Plan To Bolster Credit Market

    Wall Street Journal - ... assets in exchange for new short-term debt, in an effort to ignite demand in certain credit markets. The high-stakes plan to rescue banks from losses on mortgage ... to the Treasury's role in seeking to help banks avoid a big financial hit for making bad ...
    2007-10-15 09:39:00

  • Citibank sets the stage with 57 percent profit decline

    Orlando Sentinel - The nation's largest bank cited losses from bad loans, mortgage writeoffs and other credit issues in reporting its earnings falloff. Citigroup's banking services include consumer finance operations across the country. Its Citi Financial consumer ...
    2007-10-15 09:32:00

  • Un-Crunching Credit

    CNBC - ... plan to set up a $60 billion to $80 billion fund to jumpstart a particularly troubled corner of the credit market. They plan to buy mortgage ... term debt evaporated this summer, as investors were unwilling to buy debt that might be backed by bad ...
    2007-10-15 05:07:00

  • Mortgage setbacks slow Citigroup profit to $2.4 bln

    Raw Story - The markets have since recovered, but analysts say concerns remain about the credit market and Wall Street's exposure to bad mortgage loans. Such angst contributed to an 87 percent decline in Citigroup's US markets and banking revenues during the ...
    2007-10-15 08:13:00

  • Mortgage Woes Hit Citi Hard

    ABC News - ... million increase in net credit losses and a $2.24 billion charge to increase reserves for bad loans. Return on equity was 7.4 percent. "This was a disappointing quarter, even in the context of the dislocations in the subprime mortgage and credit ...
    2007-10-15 06:40:00

  • Stocks Fall Amid Unease Over Bad Debt

    Forbes - ... 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 ... institution, reported that third-quarter results fell 57 percent because of investments in mortgage-backed ...
    2007-10-15 09:39:00

  • Credit Crisis Still Haunts Citi (Forbes)

    Charles Prince's investment bank fears that the consumer credit market will continue to deteriorate.
    2007-10-15 09:24:37

  • Banks shrug off credit crunch (Herald Sun)

    THE big Australian banks have largely shrugged off the credit crunch sparked by the sub-prime mortgage sector collapse in the US, according to a report from Moody's.
    2007-10-15 07:00:00

  • Citigroup's (C) third-quarter profit hurt by write-downs for bad loans (Schaeffers Research)

    Bright and early this morning, Dow component and banking giant Citigroup (C) reported that its third-quarter profit slipped 57% after accounting for previously announced write-downs for bad loans and other credit issues...( Read More )
    2007-10-15 06:20:43

  • Stocks fall amid unease over bad debt (Lexington Herald-Leader)

    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. Bonds fell after an upbeat economic reading. The stock market's pullback follows concerns about debt but also as investors also await third-quarter reports due this week from more than 80 members of the Standard & Poor's 500 index. In addition, ...
    2007-10-15 09:11:35

  • Citi profit tumbles, banks plan credit 'superfund' (Market Watch)

    NEW YORK (MarketWatch) -- Citigroup's third-quarter profit slipped 57% after accounting for previously announced write-downs for bad loans and other credit issues, the nation's largest bank said Monday. See full story.
    2007-10-15 05:25:08

  • Stocks Fall Amid Unease Over Bad Debt (AP via Yahoo! Singapore News)

    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.
    2007-10-15 09:24:00

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