Mortgage and Financial News From 2007-11-15 Page 19

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  • Domestic interest rates may remain stable: SBI (asianage via Yahoo! India News)

    New Delhi, Nov. 15: SBI chairman O.P. Bhatt said on Thursday that domestic interest rates have eased and are expected to remain stable.
    2007-11-15 10:53:23

  • EurActiv.com - The case for a rise in European interest rates | EU - European Information on Economy & Euro (EUActiv)

    Due to increasing inflationary pressure, the European Central Bank (ECB) should not wait until next year to raise its interest rates from their current level of four percent, writes Wolfgang Münchau from EuroIntelligence.
    2007-11-15 05:27:21

  • Citigroup Punished in First Bond Sale Since Subprime Writedowns

    Bloomberg - The sale was the bank's first since saying Nov. 4 that it may have to write down $11 billion in subprime mortgage-linked ... The lender hasn't paid a higher yield premium on 10-year debt in dollars, Bloomberg data show. Moody's Investors Service ...
    2007-11-14 09:18:00

  • Berkshire Boosts Stake in U.S. Bancorp, Wells Fargo (Update2)

    Bloomberg - ... and remains the top investor in Wells Fargo, the second-largest home lender. Both have fallen this year as foreclosures set a record in the second quarter and overdue payments on subprime loans reached a five-year high, according to the Mortgage ...
    2007-11-15 10:54:00

  • U.S. housing slump worst since Depression: Wells Fargo

    Globe and Mail - He nevertheless said the second-largest U.S. mortgage lender and fifth-largest U.S. bank is well-positioned to ride out the storm, despite expectations for "elevated" credit losses from home equity loans into 2008. He also said the bank has only ...
    2007-11-15 11:16:00

  • Subprime lender NovaStar warns of bankruptcy

    Globe and Mail - ... Financial Inc. shares fell as much as 59 per cent Thursday after the troubled subprime mortgage lender ... NovaStar said it has halted mortgage lending, after making $11.2-billion of home loans in 2006, and let go all but a few hundred staff from its ...
    2007-11-15 10:11:00

  • Shares of NovaStar Financial plunge as lender posts $600 million loss

    CNBC - ... home lender posted a nearly $600 million loss, said its shares are likely to be booted off the New York Stock Exchange and warned of heightened risk of bankruptcy. Many of NovaStar Financial's competitors _ including American Home Mortgage Investment ...
    2007-11-15 09:28:00

  • Foreclosures Hit a Snag for Lenders

    New York Times - The process of putting together a mortgage pool begins when a home loan is originated by a bank or mortgage lender. That loan is typically sold to a Wall Street firm that pools it with thousands of others. Once a pool is packaged, it is sold to ...
    2007-11-15 09:00:00

  • U.S. Stocks Fall; J.C. Penney, Applied Materials Shares Retreat

    Bloomberg - Wells Fargo, the second-largest U.S. mortgage lender, dropped the most in a week after saying it is ``not immune'' to the slowdown in housing. J.C. Penney tumbled to a two-year low after the third-biggest department-store chain reported a smaller ...
    2007-11-15 07:05:00

  • U.S. Stocks Decline; Wells Fargo, Exxon, J.C. Penney Retreat

    Bloomberg - Wells Fargo, the second-largest U.S. mortgage lender, dropped after saying home-equity losses will remain ``elevated'' through 2008. Exxon Mobil Corp. and Chevron Corp. declined after crude oil slid more than $1 a barrel. J.C. Penney Co. tumbled to ...
    2007-11-15 11:16:00

  • ResCap Credit Swaps Soar on Concern It May Default (Update1)

    Bloomberg - Nov. 15 (Bloomberg) -- The risk of Residential Capital LLC defaulting on its debt soared on concern the biggest privately held U.S. mortgage lender may violate bank loan agreements, trading in credit-default swaps show. Traders are speculating that ...
    2007-11-15 09:36:00

  • Treasuries Rise to the Highest Since 2005 in Flight to Quality

    Bloomberg - ... K.'s third-biggest bank, said that it wrote down about 1.3 billion pounds ($2.7 billion) of credit-related securities tied to the U.S. subprime-mortgage market collapse, and Wells Fargo, the second-largest U.S. mortgage lender, said the bank's home ...
    2007-11-15 11:37:00

  • ResCap investors fret over lender's viability: report

    Reuters - RPT-U.S. writers strike could mean big changes in advertising NEW YORK (Reuters) - Finance company GMAC's Residential Capital home mortgage unit may be close to violating certain debt covenants due to a plunge in its net worth, the Wall Street ...
    2007-11-15 09:21:00

  • Wall Street drops as credit worry lingers

    CNBC - HOME ... Chief Executive John Stumpf of Wells Fargo & Co , the No. 2 U.S. mortgage lender, said at a conference that the U.S ...
    2007-11-15 11:09:00

  • Barclays: Now What?

    Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E-mail Newsletters People ... also had to contend with fears about banks' access to credit, a problem that was brought into sharp relief after mortgage lender ...
    2007-11-15 11:23:00

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