Mortgage and Financial News From 2007-11-19 Page 01

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  • Housing Market's Stench Means Cut Price to Sell: John F. Wasik

    Bloomberg - U.S. existing-home prices are expected to drop almost 2 percent this year nationally, according to the National ... It may spur a few buyers, but it won't help homeowners unable to refinance out of unaffordable adjustable-rate loans and headed ...
    2007-11-19 05:42:00

  • Essex Capital Arranges $10.6 Million Real Estate Financing

    WebWire - ... financing for a leading independent retailer of home appliances and electronics on two properties located in the Southwestern U.S. The new mortgages were provided by a specialty finance company, and the proceeds allowed the shareholder to refinance ...
    2007-11-19 07:43:00

  • U.K. faces unappealing choices on Northern Rock

    International Herald Tribune - Now that it has become clear that no potential bidder is able or willing to refinance the entire sum lent by the Bank of ... of Northern Rock could lead to job losses in the Northeast, one of the poorer regions of the country and the home to many ...
    2007-11-19 11:33:00

  • Pat Buchanan: Ben Bernanke left holding bag for possible recession

    Union Leader - Silent Cal went home. Hoover, whom he privately derided as "Wonder Boy," presided over the Crash of '29 and the first ... going rotten on the books of our biggest banks, the staggering losses being reported, the inability of homeowners to refinance ...
    2007-11-19 08:51:00

  • Japan-Based Sumitomo Mitsui Reports 30 Percent Drop Due To Global ...

    All Headline News - Tokyo, Japan (AHN) - Japan's third-largest bank, Sumitomo Mitsui Financial Group Inc., reported a loss of 30 percent in its first fiscal half net profit due to bad credit expenses, writedowns related to mortgage-backed securities and other bad ...
    2007-11-19 05:35:00

  • Good news and bad for SNP: He's popular - but independence isn't

    Scotsman - THE SNP won the Scottish Parliament election in May because people trusted Alex Salmond to be a good first minister, not because they wanted an independent Scotland, according to a major new piece of research published last night. Researchers found ...
    2007-11-19 07:32:00

  • Housing Sentiment Report: Don't Blame The Media For Bad Times

    CNBC - Housing Sentiment Report: Don't Blame The Media For Bad Times ... but we don’t make them up, and I’m specifically talking about the mortgage crisis ... the starter homes in this country, the ones that younger folks with lesser credit ...
    2007-11-19 10:07:00

  • Northern Rock Disappointed With Bids

    Forbes - Shares in Northern Rock PLC, Britain's biggest casualty of the global credit squeeze, plunged more than 20 percent Monday after the stricken mortgage lender revealed that potential rescue bids were significantly below its current share price. The bad ...
    2007-11-19 11:54:00

  • Mexican peso weakens on U.S. credit market jitters

    Reuters - ... sharply on Monday to a two-month low as investors worried about more credit losses ... may have to write off $15 billion over the next two quarters as mortgage losses ... Slower U.S. growth would be bad for Mexico, which sends more than 80 percent of ...
    2007-11-19 02:24:00

  • AP Business NewsBrief at 12:12 a.m. EST

    CNBC - ... Shares in Northern Rock PLC, Britain's biggest casualty of the global credit squeeze, plunged more than 20 percent Monday after the stricken mortgage lender revealed that potential rescue bids were significantly below its current share price. The bad ...
    2007-11-19 09:12:00

  • Bad write-up on write-downs sends Citigroup's stock lower

    AZCentral.com - Banks like Citi don't just hold subprime mortgages, which are home loans to customers with bad credit. They also have money in fixed-income instruments known as collateralized debt obligations. CDOs combine slices of debt, and often have mortgage ...
    2007-11-19 06:13:00

  • Bank of Japan Shackled by Subprime, Ex-Cabinet Secretary Says

    Bloomberg - ... The Bank of Japan could have raised interest rates if the U.S. subprime mortgage ... this year diminished after losses linked to subprime loans dried up global credit ... While his predecessor Junichiro Koizumi focused on banks' disposal of bad loans ...
    2007-11-19 09:27:00

  • Global stocks fall on credit fear

    BBC Business - ... in Citigroup sell their shares, prompting concerns that the impact from the credit crisis could be more dramatic than originally thought. The bad news for ... bank reported a 57% drop in quarterly profits, stemming from losses in the sub-prime mortgage ...
    2007-11-19 03:36:00

  • Treasurys up again on credit worries

    Miami Herald - Not all mortgage-backed securities are backed by loans made to persons with bad credit, but ever since August investors have been wary of any debt that could be risky. This means that getting rid of these assets may be a tough sell for the banks. A ...
    2007-11-19 08:26:00

  • Shares dive on US mortgage turmoil

    News.com.au - ... 9 per cent to an 8-week low by midday today as the big banks dropped on credit ... overnight after a broker downgrade of Citigroup sparked concerns of more mortgage ... You reckon this is bad - wait till Krudd & the Unions win government. You will ...
    2007-11-19 07:46:00

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