Mortgage and Financial News From 2007-9-20 Page 25
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Sterling at 1-1/2 year low vs euro (Reuters via Yahoo! UK & Ireland News)
Sterling dropped to its lowest in 1-1/2 years against a broadly strong euro on Thursday, weakening beyond 70 pence, as investors continued to sell the pound on the view interest rates have peaked and may be cut.
2007-09-20 04:45:00 -
Sep 19, 8:53 PM EDT
US News and World Report - This curbed investor appetite for everything from mortgage-backed bonds to loans for corporate buyouts. It was Morgan Stanley's first drop in earnings under Chief Executive John Mack and follows a smaller-than-expected decline in profit from rival ...
2007-09-20 04:25:00 -
China's housing mortgage loans face rising risks: report
TradingMarkets.com - Beijing, Sept. 20 (Xinhua) - China's commercial banks are entering a high risk period for increasing housing mortgage loans, according to a report released by the China Construction Bank (CCB), the country's second largest commercial lender. China's ...
2007-09-20 12:29:00 -
Deutsche Bank CEO: Subprime credit crisis to hamper 3Q results
International Herald Tribune - In Germany, IKB Industriebank AG had to be bailed out by a consortium of state-run banks after it said its exposure to U.S. subprime mortgage loans would cause it to lose as much as €700 million (US$978.25 million) this fiscal year. IKB's problems ...
2007-09-20 02:38:00 -
MACK DOES CARD TRICK FOR MORGAN STANLEY
New York Post - September 20, 2007 -- John Mack used his Discover card to help ease Morgan Stanley's big write-off of nearly $1 billion in shoddy loans from the mortgage meltdown mess. It was the toughest crisis and the first losing year that Mack has faced since ...
2007-09-20 02:17:00 -
Housing Troubles Dealt the Fed An Unusual Market
Washington Post - Soaring defaults among subprime homeowners made these investors wary of buying mortgage loans. But soon the concerns spread to all kinds of debt. The investment banks were left with massive loans that nobody wanted. The Fed's rate cut on Tuesday was ...
2007-09-20 04:25:00 -
UPDATE 2-Commerzbank says its subprime losses could rise
Reuters - The chief executive of Germany's biggest bank, Deutsche Bank (DBKGn.DE: Quote , Profile , Research ), said late on Wednesday that shockwaves from the credit crisis that started in the market for risky mortgage loans in the United States would hurt ...
2007-09-20 04:18:00 -
Treasury secretary to move on home mortgage crisis
MSN MoneyCentral - ... is signaling the Bush administration would consider letting Fannie Mae and Freddie Mac to temporarily buy, bundle and sell as securities, jumbo loans exceeding $417,000. The idea is portrayed as a way to pump money into the beleaguered home mortgage ...
2007-09-20 03:21:00 -
GE Money unit Wizard Home Loans to invest in India
Reuters India - NEW DELHI (Reuters) - Australia's Wizard Home Loans will invest $200 million in India by 2011, and aims to be one of the top five mortgage companies in the country in 5-10 years, a senior company official said on Thursday. Wizard, a subsidiary of ...
2007-09-20 04:33:00 -
Nevada officials try to clarify new mortgage law Lenders back off ...
Las Vegas Review Journal - CARSON CITY -- State lawmakers, the Gibbons administration and the attorney general's office are scrambling to clear up confusion over fuzzy wording in a new law that's making it tougher for some qualified Nevadans to get home loans. Some major ...
2007-09-20 01:55:00 -
Credit agencies open to talks on improving ratings
Reuters - Highly rated securities -- in the triple-A and double-A categories -- that repackage subprime mortgage loans and other assets have fallen sharply in price and in some cases forced holders to sell at a loss. That has led to concern among investors ...
2007-09-20 03:07:00 -
Swiss banks set for modest net profit growth - banking association
Forbes - The study also showed that there has been a slight slowdown in demand for mortgage loans in Switzerland. 'At the end of 2006, 82 pct of loans in Switzerland were mortgages (...) amounting to 483.4 bln sfr,' the study said. 'By the start of 2007, demand ...
2007-09-20 04:33:00 -
GE-Wizard JV to offer home loans at 9.99% (Business Standard India)
Consumer financial services provider GE Money and international mortgage player Wizard today announced a joint venture 'Wizard Home Loans' that will offer 9.99% floating interest rate on home loans.
2007-09-20 02:47:40 -
Wizard to offer home loans at 9.99% (rediff.com)
GE Money and international mortgage player Wizard announced on Thursday a joint venture 'Wizard Home Loans' that will offer 9.99 per cent interest rate on home loans to consumers. The prevailing market rate for is between 11 per cent and 12 per cent.
2007-09-20 01:44:07 -
GE Money unit Wizard Home Loans to invest in India (Reuters via Yahoo! India News)
NEW DELHI (Reuters) - Australia's Wizard Home Loans will invest $200 million in India by 2011, and aims to be one of the top five mortgage companies in the country in 5-10 years, a senior company official said on Thursday.
2007-09-20 04:35:21