Mortgage and Financial News From 2007-11-19 Page 3

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  • PAUL B. FARRELL: Seventeen Reasons America Actually Needs A Recession (Nasdaq)

    ARROYO GRANDE, Calif. (Dow Jones) -- Yes, America needs a recession. Bernanke and Paulson won't admit it. And investors hate them. We're all trapped in outdated 1990s wishful thinking about a "new economy" and "perpetual growth."
    2007-11-19 06:55:28

  • Wall Street lower amid credit fears (FT.com via Yahoo! News)

    US stocks were sharply lower on Monday after Goldman Sachs (NYSE:GS) warned that Citigroup (NYSE:C) could be forced to make $15bn in credit-related writedowns and told investors to sell the shares.
    2007-11-19 11:35:18

  • Wall Street falls amid credit fears (FT.com via Yahoo! News)

    US stocks fell sharply on Monday after Goldman Sachs (NYSE:GS) warned that Citigroup (NYSE:C) could be forced to make $15bn in credit-related writedowns and told investors to sell the shares.
    2007-11-19 02:20:20

  • Risk To Heirs Gone With Reverse Mortgages (WCVB Boston)

    Elderly homeowners have plenty of equity in their homes once their mortgage is paid off, but for those who live on a fixed income, paying for anything outside of normal expenses can pose challenges.
    2007-11-19 03:08:36

  • Financial p25

    Guardian Unlimited - The United States' second-richest man has delivered a blunt message to the Bush administration: he wants to pay more tax. Thousands of first-time buyers could find themselves in negative equity following a big increase in the number of 100% mortgages ...
    2007-11-19 05:27:00

  • Credit Agricole Buys 14.99 Percent Bankinter Stake (Update5)

    Bloomberg - Nov. 19 (Bloomberg) -- Credit Agricole SA, France's second- biggest bank, agreed to buy a 14.99 percent stake in Bankinter ... Agricole will become the biggest shareholder in Bankinter, a retail bank with two-thirds of its loan book made up of mortgages ...
    2007-11-19 09:02:00

  • Mortgage crisis hits Britannia members

    This is Money - Mortgages & homes ... Britannia, the second biggest mutual lender after Nationwide, is especially vulnerable to the credit crunch because its ...
    2007-11-19 08:26:00

  • The Fannie Dance

    CFO.com - The first issue concerned an income statement line item known as "losses on certain guaranty contracts," also known as "day one losses," which is linked to the fees Fannie Mae collects on mortgages. The second policy focuses on a standard issued by ...
    2007-11-19 02:03:00

  • US Homebuilder Sentiment Remains at Record Low

    CNBC - ... in November, an industry group said on Monday, as potential buyers canceling orders or facing higher hurdles getting mortgages ... realize it will be some time before market conditions support an upswing in building activity -- most likely by the second ...
    2007-11-19 10:21:00

  • Marshall & Ilsley reviewing credit relationship with Franklin Credit ...

    Forbes - M&I's loans to Franklin and Tribeca are secured by pools of first and second priority residential mortgages. Specifically, $97 million of the loans to Franklin were made before 2005 and are performing within originally projected loss expectations ...
    2007-11-19 06:18:00

  • Australian Stocks Decline, Led by Macquarie, James Hardie, BHP

    Bloomberg - The slump in U.S. subprime mortgages contributed to the value of a fund sliding 27 percent in July, Macquarie said on Sept. 1. Babcock & Brown Ltd., the second- largest investment bank, declined 70 cents, or 2.6 percent, to A$26.30. U.S ...
    2007-11-19 03:50:00

  • Fannie and Freddie swoon

    Financial Times - Second, both have significant exposure to “triple-A” securities backed by subprime mortgages. Just as such assets are terrifying investors across the financial services industry, because of the potential for huge writedowns, Freddie’s $120bn of ...
    2007-11-19 01:06:00

  • Risk of recession up

    Record Searchlight - Everybody is in debt up to their eyeballs with second mortgages, credit cards, new cars, furniture loans, and then they lose their health insurance, so there are medical bills. Bosses are only giving out tiny raises because the big bosses take all the ...
    2007-11-19 02:03:00

  • Lowe's posts lower profit

    Reuters - Lowe's, which had earlier cut its full-year outlook in late September, said during its conference call that re-setting adjustable-rate mortgages and rising energy costs were other pressures on consumers. The second-biggest home improvement chain ...
    2007-11-19 03:50:00

  • Lowe's posts lower profit (Reuters via Yahoo! News)

    Retailer Lowe's Cos Inc said on Monday its third-quarter profit fell 10 percent and it cut its full-year forecast as the U.S. housing slump hurt sales, sending its shares to a four-year low.
    2007-11-19 02:09:55

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