Mortgage and Financial News From 2007-11-6 Page 9

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  • Morgan Stanley May Write Down $6 Billion, Trone Says (Update3)

    Bloomberg - In addition to being a mortgage provider, Saxon services home loans to people with poor credit histories by collecting payments ... In December, O'Neal paid $1.3 billion for mortgage lender First Franklin Financial Corp., the 10th-largest ...
    2007-11-06 02:11:00

  • Brown Puts Terrorism, Environment, Crime, Homes on U.K. Agenda

    Bloomberg - Brown, who has handled floods, foot and mouth disease in cattle and a run on mortgage lender Northern Rock Plc since he became prime minister, must use the speech to shed the impression he is reacting to events, said John Bartle, a lecturer on ...
    2007-11-06 03:48:00

  • IndyMac reports huge loss

    Los Angeles Times - ... the earlier expectation was demolished by rising loan delinquencies, credit downgrades of mortgage-backed bonds and widespread belief that home ... IndyMac, a Top 10 mortgage lender nationally, as recently as the second quarter had been No. 1 in loans to ...
    2007-11-06 02:33:00

  • Banks may pass on interest-rate increase by end of week

    News.com.au - The country's largest home lender, Commonwealth Bank, is holding the line on mortgage rates at the moment and, for competitive reasons, this is likely to restrain additional price increases at the other majors. All bank stocks except Adelaide Bank ...
    2007-11-06 02:33:00

  • Fitch cuts National City credit rating

    Boston Globe - It took Countrywide Financial Corp., the nation's largest mortgage lender, off an evolving credit watch and assigned it a negative outlook. Fitch said rising delinquencies and defaults among mortgages, home equity products and residential builder ...
    2007-11-06 11:55:00

  • IndyMac Swings to 3rd Quarter Loss

    Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E-mail Newsletters People ... Mortgage lender IndyMac Bancorp Inc. said Tuesday it swung to a loss in the third quarter due to rising loss reserves and severance ...
    2007-11-06 06:33:00

  • Some Mutual Funds Primed For Subprime Fallout

    CNBC - Much of this fund's woes are due to the 4.66% position it held in the now bankrupt lender American Home Mortgage Investment Corp . While subprime issues have hurt the performance of these funds, Stephen Wood, senior portfolio strategist with Russell ...
    2007-11-06 09:10:00

  • Lab: Mysterious substance found at Countrywide not hazardous

    AZCentral.com - It is unknown if the investigation, taken over Friday by the FBI and normal for these types of cases, will continue. A building on the campus of Countrywide, the nation's largest home mortgage lender, had to be evacuated Friday after an employee ...
    2007-11-06 03:44:00

  • Citigroup May Face $2.7 Billion in More Writedowns (Update2)

    Bloomberg - Nov. 6 (Bloomberg) -- Citigroup Inc. may have to write down an additional $2.7 billion worth of subprime-mortgage backed and ... Citigroup causes us the most concern of the big banks,'' the analysts said in a report today, citing the lender's business ...
    2007-11-06 11:05:00

  • Banks to press interest rate trigger

    News.com.au - ... ago NAB chief executive John Stewart suggested the major banks may be forced to increase rates on home loans and other products regardless of moves by the RBA. The country's largest home lender, Commonwealth Bank, is holding the line on mortgage ...
    2007-11-06 04:56:00

  • IndyMac Reports $202.7 Million Loss on Late Payments (Update3) (Bloomberg.com)

    Nov. 6 (Bloomberg) -- IndyMac Bancorp Inc., the second- largest independent U.S. mortgage lender, reported a loss five times bigger than the company forecast in September as foreclosures and late payments rose to a record.
    2007-11-06 07:10:23

  • IndyMac reports huge loss (Los Angeles Times)

    The mortgage lender posts a deficit of $202.7 million in the third quarter, more than five times what it had forecast. IndyMac Bancorp today joined the ranks of mortgage lenders reporting huge third-quarter losses, saying real estate speculators were defaulting on its 100% financing packages and Wall Street investors continued to back away from buying the nontraditional loans that had been ...
    2007-11-06 01:36:12

  • Central bankers see more credit pain (Reuters via Yahoo! News)

    Central bankers past and present warned on Tuesday of more credit pain to come as Germany's Commerzbank and a big American lender became the latest to reveal losses from U.S. subprime mortgage lending.
    2007-11-06 07:23:26

  • Bank of England cautioned govt on Northern Rock takeover (AFP via Yahoo! News)

    Britain's government had an opportunity to help finance a takeover of troubled mortgage lender Northern Rock by rival Lloyds TSB but the Bank of England warned against the consequences of such a move, it emerged Tuesday.
    2007-11-06 08:31:31

  • ASK THE MORTGAGE EXPERT: Why is it so expensive to get a home loan? (WBIR-TV Knoxville)

    Paying your originator is just the beginning of the mouths -- and families -- being fed by your business.
    2007-11-06 12:31:58

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