Mortgage and Financial News From 2007-11-22 Page 01

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  • Where the dollar’s decline is taking the world

    Financial Times - Wall Street has produced a credit crisis for banks by securitising more than $900bn (€606bn) of subprime mortgage loans. The ultimate default rate on these loans could rise as high as 20-25 per cent, so there is $200bn-$250bn of bad paper now ...
    2007-11-22 01:16:00

  • US mortgage crisis claims new casualties

    Times Online - Freddie Mac revealed that it had set aside $1.2 billion to cover bad and doubtful debts for the three months to the end of September as struggling American homeowners began to default on their mortgage loans. It also wrote down $3.6 billion in assets ...
    2007-11-19 03:57:00

  • N.Rock loans from BoE may top 26 bln stg -data

    Reuters - Last: LONDON, Nov 22 (Reuters) - British mortgage lender Northern Rock (NRK.L: Quote , Profile , Research ) is likely to have borrowed a further 1.1 billion pounds ($2.3 billion) from the Bank of England (BoE) in the past week, according to BoE ...
    2007-11-22 11:08:00

  • N.Rock loans from BoE may top 26 billion pounds: data

    Reuters - LONDON (Reuters) - British mortgage lender Northern Rock (NRK.L: Quote , Profile , Research ) is likely to have borrowed a further 1.1 billion pounds ($2.3 billion) from the Bank of England (BoE) in the past week, according to BoE balance sheet data ...
    2007-11-22 10:53:00

  • Will mortgage woes affect auto loans?

    Vindicator - DETROIT — Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business. In a note to investors, Lehman Brothers analyst Brian Johnson said his ...
    2007-11-22 09:30:00

  • U.S. Stocks' Issues, Circuit City's Slide, NYSE Exits?: Timshel

    Bloomberg - Luminent Mortgage Capital Inc., a San Francisco-based investor in mortgage loans, closed at a mere $1.08 before yesterday's holiday. New Century Financial Corp., once the second-biggest U.S. lender to homebuyers with less-than-ideal ...
    2007-11-22 09:30:00

  • Kensington halts loans to higher-risk borrowers

    Daily Telegraph - Kensington Group, the UK's first sub-prime lender, has stopped offering mortgages to borrowers with poor credit histories. In an email to mortgage brokers, the troubled lender said it will increase its focus on low-risk products, rather than the ...
    2007-11-22 04:44:00

  • Revealed: massive hole in Northern Rock's assets

    Guardian Unlimited - Among the findings are: · Mortgage loans of over 90% of the purchase price of a house have soared to £16bn, from £2.7bn, in the space of three years. · Loans have exceeded the value of the property on nearly 2,500 mortgages, with a value of £263m ...
    2007-11-22 06:17:00

  • French Banks Acquire Bond Insurance Company

    New York Times - Just under half the securities backing those C.D.O.’s were backed by subprime mortgage loans. Most of the residential mortgages that CIFG insured were loans made in 2005, according to CIFG’s Web site. Yesterday’s sale of 100 percent of CIFG’s ...
    2007-11-22 04:37:00

  • Australian Central Bank Buys Mortgage-Backed Debt (Update1) (Bloomberg.com)

    Nov. 23 (Bloomberg) -- Australia's central bank bought A$400 million ($351 million) of bonds backed by home loans, its biggest purchase since announcing in September it would buy the securities to support the nation's asset-backed debt market.
    2007-11-22 10:15:18

  • Share market edges up on election eve

    News.com.au - ... said the banks were being hit due to the possibility of higher interest rates from ... on US worries 4. Election shatters business confidence 5. Home owners feel mortgage pain ... Shareholders OK PBL split Struggle: Home affordability lowest in 22 years First ...
    2007-11-22 06:03:00

  • Shareholders ok PBL split

    News.com.au - Home loans: 'Which bank' to lift interest rates? All Ords: Shares drops after US ... on US worries 4. Election shatters business confidence 5. Home owners feel mortgage pain ... Shareholders OK PBL split Struggle: Home affordability lowest in 22 years First ...
    2007-11-22 06:03:00

  • Dollar slightly weaker at noon

    News.com.au - ... OECD) report this week also warned of the continuing fallout from the US mortgage ... Home loans: 'Which bank' to lift interest rates? All Ords: Shares drops after US ... Shareholders OK PBL split Struggle: Home affordability lowest in 22 years First ...
    2007-11-22 06:03:00

  • Tiger Airways takes off in Australia

    News.com.au - Home loans: 'Which bank' to lift interest rates? All Ords: Shares drops after US ... on US worries 4. Election shatters business confidence 5. Home owners feel mortgage pain ... Shareholders OK PBL split Struggle: Home affordability lowest in 22 years First ...
    2007-11-22 06:03:00

  • Goldman Sachs buys 10pc of CMC

    News.com.au - Home loans: 'Which bank' to lift interest rates? All Ords: Shares drops after US ... on US worries 4. Election shatters business confidence 5. Home owners feel mortgage pain ... Shareholders OK PBL split Struggle: Home affordability lowest in 22 years First ...
    2007-11-22 06:03:00

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