Mortgage and Financial News From 2007-11-8
Previous Day: 2007-11-07
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Bankrate: Mortgage Rates Nudge Higher
MSN MoneyCentral - While the October employment report showed 166,000 new jobs, it was skittishness about the prevalence of bad loans that was the primary force driving mortgage rates higher. The uncertainty about the credit quality of loans made to subprime ...
2007-11-08 04:36:00 -
AIG Stumbles On Credit Crisis (Forbes)
The insurer's profit falls 27% in the third quarter on investment losses and write-downs to its credit swap portfolio.
2007-11-07 04:36:10 -
Morgan Stanley: Probing The Bottom? (Forbes)
The big bank's $3.7 billion write-down related to subprime mortgage problems leads observers to wonder how much deeper Wall Street banks' exposure to credit derivatives goes.
2007-11-08 03:43:21 -
Capital One falls on credit loss warning (BizJournals)
Capital One shares fell as much as 9 percent Wednesday after the credit card and banking company forecast bad debt would be more than expected next year. (COF)
2007-11-07 10:14:52 -
Washington Mutual warns of credit losses; stock tanks (Market Watch)
SAN FRANCISCO (MarketWatch) -- Washington Mutual Inc. said on Wednesday that 2007 credit losses could amount to between $2.7 billion to $2.9 billion, almost double the estimates it made in July when the subprime meltdown began wreaking havoc in U.S. mortgage markets.
2007-11-07 07:19:26 -
Morgan Stanley: $3.7B subprime mortgage writedown (CNN Money)
The investment bank said it could lose up to $6B if all subprime mortgage-related investments were to go bad.
2007-11-07 03:41:10 -
A few bad apples spoil the mortgage rates (Bankrate.com)
Mortgages are suffering from a bad reputation, and that led to an increase in fixed rates this week. That's the theory, anyway.
2007-11-08 04:57:05 -
Related Links
Business Day South Africa - But Fed g overnor Frederic Mishkin said on Monday that the Fed should be prepared to reverse its monetary easing if the US economy escaped much damage from the market turmoil, even as a recovery is some way off in housing and subprime mortgages. ...
2007-11-07 01:45:00 -
Deerfield Triarc Capital Corp. Announces Third Quarter 2007 Results
PR Newswire - We believe that many of these charges will reverse over time as markets recover. Despite the market turmoil, our taxable ... A limited amount of exposure to subprime residential mortgages exists in the alternative investment portfolio as discussed in ...
2007-11-07 06:35:00 -
Mortgage mess
Daily Herald - Instead, they should require a third party counseling like they do for reverse mortgages. In order to get a reverse mortgage at one point you have to talk with a community counselor, almost like a social worker. They are scheduled not through the ...
2007-11-04 03:54:00 -
Reverse Mortgages To Back Bond Issue (WallStreet Journal via Yahoo! Finance)
Federal housing-finance agency Ginnie Mae plans to roll out what it calls the first "standardized" bond issue backed by reverse mortgages, a move aimed at boosting liquidity for one of the fastest-growing markets targeting baby boomers.
2007-11-07 09:03:26 -
Subprime debt not danger for most bond funds
Chicago Tribune - But before hastily selling bond funds over fears that ruptures in subprime mortgages will prove ruinous to their holdings ... Berry contends investors would start to have seen second-quarter, third-quarter and year-to-date numbers fall off if there ...
2007-11-08 03:32:00 -
Merrill Lynch says SEC opened inquiry on Oct. 24 into subprime ...
Marketwatch - ... of $27.1 billion, including $4.1 billion of derivative assets. The Level 3 asset level, which increased from $16 billion in the second quarter, consisted of trading assets, contractual agreements, investment securities and loans, notes and mortgages
2007-11-08 02:56:00 -
Morgan Stanley's Subprime Assets Fell by $3.7 Billion (Update1)
Bloomberg - Nov. 7 (Bloomberg) -- Morgan Stanley, the second-biggest U.S. securities firm, said its subprime mortgages and related securities lost $3.7 billion in the past two months, after prices sank further than the firm's traders expected. The decline may ...
2007-11-06 03:59:00 -
J2 Global, Kenexa, Morgan Stanley, Rambus: U.S. Equity Preview
Bloomberg - The second-biggest U.S. securities firm said its subprime mortgages and related securities lost $3.7 billion in the past two months, as prices sank further than the firm's traders expected. Rambus Inc. (RMBS US) gained $1.44, or 7.4 ...
2007-11-07 09:48:00