Mortgage and Financial News From 2007-10-8 Page 15

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  • JPMorgan, BofA poised for $3bn writedown

    Financial Times - JPMorgan Chase and Bank of America are expected to reveal losses of about $3bn on holdings of mortgage securities and leveraged loans when they report third-quarter results this month. This would take to more than $20bn the total writedowns announced ...
    2007-10-07 03:04:00

  • Monday Papers: IMF chief warns on impact of credit squeeze - other ...

    Reuters UK - ... credit squeeze * City pay-outs and employment are poised to fall in the wake of market turmoil * JP Morgan Chase and Bank of America are expected to reveal losses of about £1.5 billion on their holdings of mortgage securities and leveraged loans ...
    2007-10-07 11:53:00

  • Apple, Google 'lifting a lot of boats'

    Lexington Herald-Leader - While the number is smaller than the $466 million investors put into tech funds in July, the gain is notable given the market gyrations that occurred in August amid concerns about the housing sector and souring mortgage loans. Despite strong returns ...
    2007-10-08 04:33:00

  • Stocks seen opening lower, thin trade likely

    Reuters - ... and Bank of America (BAC.N: Quote , Profile , Research ) could be in the spotlight after the Financial Times reported that the two banks are expected to disclose losses of about $3 billion in mortgage securities and leveraged loans when they report ...
    2007-10-08 04:04:00

  • US STOCKS-Futures slip in light holiday trading

    Reuters - ... and Bank of America Corp (BAC.N: Quote , Profile , Research ) are among stocks to watch after the Financial Times reported that the banks were likely to disclose losses of about $3 billion in mortgage securities and leveraged loans when they post ...
    2007-10-08 04:04:00

  • Car Dealer Tactics on the New-Home Lot

    Washington Post - When the housing market began to weaken, builders responded with incentives such as money toward closing costs and low-interest loans through their mortgage arms, but they did so without cutting their base prices. Faced with a glut of unsold homes ...
    2007-10-08 04:18:00

  • Tender Offer for Accredited Completed

    Forbes - Subprime mortgage companies have been struggling in recent months as the rate of delinquencies and defaults on the loans given to customers with poor credit history has risen. Dozens of lenders have been sold or gone out of business during the ...
    2007-10-08 04:18:00

  • Subprime mortgage slipping into default at rapid pace

    International Herald Tribune - NEW YORK : Subprime mortgage bonds created in the first half of 2007 contain loans that are going delinquent at the fastest rate ever, according to Moody's Investors Service. The average rate of "serious loan delinquencies" in the securities has been ...
    2007-10-07 10:42:00

  • ANZ calls off sale of mortgage unit

    Financial Times - Origin, which ANZ acquired from Dutch bank Rabobank in 1998, acquires pools of mortgage loans from some 25 customers and holds them on ANZ’s balance sheet or securitises them. The Sydney-based business services the Australian and New Zealand ...
    2007-10-08 04:47:00

  • Subprime mortgage slipping into default at rapid pace (International Herald Tribune)

    Moody's, Standard & Poor's and Fitch Ratings have been downgrading subprime securities issued in 2006 as defaults on the underlying loans rise to record highs.
    2007-10-07 10:12:55

  • ANZ calls off sale of mortgage unit (FT.com via Yahoo! News)

    ANZ, the Australian bank, has decided against selling its wholesale mortgage distribution business, saying on Monday that it had struggled to attract a fair price for the division due to the volatility in global debt markets.
    2007-10-08 04:00:13

  • JPM and BAC to write down $3 billion in loans: report (MSN Money Canada)

    JPMorgan is likely to report mark-to-market losses on leveraged loans of about $1.4 billion and an additional $700 million in write-downs of mortgages and mortgage-backed securities, according to Howard Mason, analyst with Sanford Bernstein, the paper reported.
    2007-10-08 04:18:32

  • Study: One-third of August's home purchase loans canceled (BizJournals)

    The heat of the national spotlight is once again on tightened credit and mortgage regulations, with a new study showing that one-third of home-purchase loans originated in August were canceled.
    2007-10-07 10:27:17

  • JPM and BAC to write down $3 billion in loans: report (Reuters via Yahoo! News)

    JPMorgan Chase and Bank of America are expected to disclose losses of about $3 billion in mortgage securities and leveraged loans when they report earnings this month, the Financial Times reported, citing an analyst.
    2007-10-08 01:59:02

  • Australia PM lacks trust, vision as election looms: poll

    Reuters UK - CANBERRA (Reuters) - Australia's Prime Minister John Howard, tipped to ask voters for a fifth term within days, faces an ... But Howard's pitch has been blunted by successive central bank interest rate rises to a decade high of 6.5 percent, denting ...
    2007-10-07 08:47:00

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