Mortgage and Financial News From 2007-10-15 Page 18

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  • Treasury Two-Year Yield Near Two-Month High on Fed Rate Outlook

    Bloomberg - ... year Treasury held at its highest in eight weeks as traders pared bets the Federal Reserve will cut interest rates a second ... paper market is part of an effort to revive lending following a surge in borrowing costs tied to defaulted subprime mortgages ...
    2007-10-15 04:53:00

  • Financing for TXU deal tests debt markets

    International Herald Tribune - Now comes the second challenge. Six banks on Monday were starting to sell at least $11 billion in debt to finance the buyout ... Turmoil in subprime mortgages seeped into the market for high-yield loans and bonds, which are often used to finance leveraged ...
    2007-10-15 08:28:00

  • Citi Reports Net Income of $2.4 Billion, Earnings Per Share of $0.47

    MSN MoneyCentral - Higher credit costs were primarily driven by a weakening of leading credit indicators, including higher delinquencies in first and second mortgages, as well as trends in the macro-economic environment, and a change in ...
    2007-10-15 03:34:00

  • Citigroup 3rd-quarter profit falls 57 percent

    Washington Post - Delinquencies on second mortgages nearly doubled last quarter. "We're at the beginning of a worsening credit environment, so the question is how much of the big charge is one-time, and how much is ongoing," said Lee Norton, an analyst at JS Asset ...
    2007-10-15 05:43:00

  • Citigroup profit off 57 percent on writedowns

    CNBC - Delinquencies on second mortgages nearly doubled last quarter. "We're at the beginning of a worsening credit environment, so the question is how much of the big charge is one-time, and how much is ongoing," said Lee Norton, an analyst at JS Asset ...
    2007-10-15 08:21:00

  • Nomura Holdings a casualty of U.S. subprime crisis (International Herald Tribune)

    The brokerage said that it would shut down its mortgage-backed securities business in the United States, cutting 400 jobs.
    2007-10-15 06:06:51

  • Citigroup profit off 57 percent on writedowns (Washington Post)

    NEW YORK (Reuters) - Citigroup Inc (C.N) said on Monday third-quarter profit fell 57 percent as losses mounted from subprime and leveraged loans, fixed-income trading and its U.S. consumer business.
    2007-10-15 08:40:34

  • First Fractional Funding Attributes Continued Growth to Use of Guardian Mortgage Services Outsource Fulfillment for ... (Business Wire via Yahoo! Finance)

    BOSTON----While many in the mortgage industry are trying to survive the recent market unrest by cutting back on offered products, First Fractional Funding, a Denver-based lender specializing in fractional ownership mortgages, has experienced continued growth.
    2007-10-15 06:01:00

  • Michigan Homeowners Could Get State Help To Avoid Foreclosures (Michigan Technology News)

    LANSING - Homeowners facing foreclosures on their mortgages would have refinancing options through the Michigan State Housing Development Authority under legislation proposed Friday by Gov. Jennifer Granholm and legislative Democrats. Michigan has one of the nation's highest foreclosure rates, ranking fourth, as the number has doubled since 2006 to an estimated 83,000 this year.
    2007-10-14 07:25:29

  • Happy hunting for Canada's Big Five banks (Toronto Star)

    Don't be gulled by the recent recovery in global bank stocks, based on a fingers-crossed belief that the worst of the losses on U.S. subprime mortgages and go-go corporate lending of the past few years is over.
    2007-10-15 02:35:31

  • Big banks face competition for depositers (The Arizona Republic)

    Amid all the noise about mortgages going sour and the difficulties banks are having unloading corporate debt, it can be easy to overlook their core business - plain, old-fashioned deposits, the kind Grandma drives to her local branch to make.
    2007-10-14 08:38:06

  • Europe's Financial Services Growth Weakens to Six-Year Low (Bloomberg.com)

    Oct. 15 (Bloomberg) -- Growth in Europe's financial-services industry weakened to a six-year low in September after the collapse of U.S. subprime mortgages roiled credit markets, a survey by research company NTC Economics Ltd. showed.
    2007-10-14 10:24:47

  • Crescent Financial Corporation Announces Solid Earnings and Strong ...

    MSN MoneyCentral - Port City Capital Bank was acquired on August 31, 2006 and therefore only one month of financial results were ... 18,275 12,588 ----- ----- Non-interest income Mortgage loan ...
    2007-10-15 07:23:00

  • Northern Rock Confirms Talks With Interested Parties

    Wall Street Journal - Troubled U.K. mortgage lender Northern Rock Monday said it is working with a number ... led by Virgin Group said it had submitted a non-binding indication of interest to ... THE FULL WSJ.com ARTICLE IS ONLY AVAILABLE TO SUBSCRIBERS. • ...
    2007-10-15 03:49:00

  • Sub-prime, interest rates and futility

    Nassau Guardian - Sub-prime, interest rates and futility Oct 15/07 Gilbert Morris We should never find ... and so find that in drawing on what is available, we merely increase, not only ... But that mortgage brokers convinced them to take variable rate mortgages. As such ...
    2007-10-15 04:39:00

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