Mortgage and Financial News From 2007-11-15 Page 01

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  • GE sees no impact on results from fund redemptions

    Boston Globe - CDOs and SIVs are investment pools that invest in mortgages, which have fallen in value amid the credit crunch. GE, the second-largest U.S. company by market valuation, behind Exxon Mobil Corp , this month said it would raise the pensions of ...
    2007-11-15 10:54:00

  • Canadian Stocks Retreat, Led by Royal Bank, on Credit Concerns

    Bloomberg - Canada's biggest insurer is not anticipating any ``significant losses'' related to its portfolio of sub-prime mortgages, which had diminished in size from about C$840 million at the end of the second quarter, Donald Guloien, chief investment officer ...
    2007-11-15 02:15:00

  • Credit Agricole Shares Fall as Writedowns Cut Profit (Update2)

    Bloomberg - Nov. 15 (Bloomberg) -- Credit Agricole SA, France's second- biggest bank, fell the most in a year in Paris trading after saying third-quarter profit declined on writedowns linked to U.S. subprime mortgages and a trading loss. The shares dropped 81 ...
    2007-11-15 11:44:00

  • Dexia Third-Quarter Profit Falls 28% on U.S. Unit (Update1)

    Bloomberg - Credit Agricole SA, France's second-largest bank by assets, two days ago reported a 17 percent drop in net income after a trading loss and writedowns on assets linked to subprime mortgages in the U.S. Dexia was created by the 1996 merger ...
    2007-11-15 11:12:00

  • Stock Fall for Second Day On Worsening Housing Reports

    New York Sun - Stocks in America fell for a second day after Wells Fargo & Co. said the housing market is the worst since the Great ... Fannie Mae tumbled to a two-year low after Fortune said the biggest source of money for American mortgages changed the way it ...
    2007-11-15 10:00:00

  • Japan Stocks Fall, Led by Toyota, Mizuho, on Yen, U.S. Concern

    Bloomberg - Toyota, second in U.S. auto sales this year, slid 1.8 percent and was the third-most actively traded stock by value ... Adding to concerns, Fannie Mae tumbled to a two-year low after Fortune said the biggest source of money for U.S. mortgages ...
    2007-11-15 10:57:00

  • Congress tackles subprime crisis

    MSNBC - ... on Thursday as the House of Representatives passed a bipartisan bill imposing liability on companies that package mortgages ... Second, it must provide for strong enforcement to ensure that those standards are met. My bill…will meet both ...
    2007-11-15 09:10:00

  • Treasuries Rise as Barclays' Writedown Spurs Flight to Quality

    Bloomberg - Nov. 15 (Bloomberg) -- Treasuries rose for a second day as Barclays Plc wrote down losses on securities tied to U.S. subprime mortgages, prompting investors to seek the safety of short-term government debt. Yields on two-year notes fell more than 10 ...
    2007-11-15 10:47:00

  • Welcome to the Northerner, Guardian Unlimited's weekly digest of the ...

    Guardian Unlimited - And presumably, with beer at about a fiver a bottle, they take out second mortgages to pay for the booze. _____ A debate on the merits of Sunderland compared with other towns and cities of the north-east has been bubbling intermittently - and sometimes ...
    2007-11-15 08:10:00

  • Barclays reveals £1.7bn loans write-off

    Times Online - Second-lien mortgages - home loans where Barclays has only second claim on the collateral – had also been written off. Barclays said that it had also adopted a more conservative accounting treatment, projecting cashflows through to the end of 2008 ...
    2007-11-15 03:55:00

  • British Land set to pounce if property prices wobble

    Times Online - The head of British Land, Britain’s second-most valuable property company, is ready to delve into a £2 billion war chest ... Also in Property & Mortgages
    2007-11-15 03:55:00

  • Congress tackles subprime crisis (FT.com via Yahoo! News)

    The most comprehensive legislative response to the subprime crisis emerged on Thursday as the House of Representatives passed a bipartisan bill imposing liability on companies that package mortgages into securities and setting new standards for mortgage origination.
    2007-11-15 08:40:10

  • Few second mortgages going to subprime borrowers (Houston Chronicle)

    The common practice of homebuyers with shaky credit taking out second mortgages for down payments is ending because there's no investor demand for securities backed by such loans.
    2007-11-10 10:43:32

  • Credit Agricole Shares Fall as Writedowns Cut Profit (Update2) (Bloomberg.com)

    Nov. 15 (Bloomberg) -- Credit Agricole SA, France's second- biggest bank, fell the most in a year in Paris trading after saying third-quarter profit declined on writedowns linked to U.S. subprime mortgages and a trading loss.
    2007-11-15 12:04:45

  • Alltel Banks Cut Loan Sale Size a Second Time, Investors Say (Bloomberg.com)

    Nov. 15 (Bloomberg) -- Banks for TPG Inc. and Goldman Sachs Group Inc. reduced the size of the loan they are selling for the purchase of Alltel Corp. to $3.2 billion, the second cut in as many days, according to investors briefed on the decision.
    2007-11-15 03:12:21

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