Mortgage and Financial News From 2007-11-22 Page 14

Previous Day: 2007-11-21

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• Oil, credit woes pummel market

  Baltimore Sun - ... YORK - Wall Street resumed its slide yesterday as unease about the wilting mortgage ... The market reflected the slowdown in the U.S. housing market, tightening credit and ... Citigroup Inc., which has announced write-downs of bad debt tied to mortgages ...
  2007-11-22 12:52:00

• Signs bad on downhill Street

  Chicago Sun-Times - Signs bad on downhill Street MARKETS |Mortgages, economy lead to more selling ... Wall Street resumed its slide Wednesday as unease about the wilting mortgage market ... fare amid a further slowdown in the U.S. housing market, a deterioration of credit ...
  2007-11-22 01:49:00

• Australian shares close lower on worries about US economy - UPDATE

  CNBC - The OECD seemed to confirm fears that the US subprime mortgage crisis is far from over when it forecast last night that losses resulting from bad debts would total 200-300 billion US dollars. Several major US banks have reported multibillion dollar ...
  2007-11-21 09:46:00

• Oil, credit woes pummel market (Baltimore Sun)

  Dow falls to 12,799; S&P 500 gives up this year's gains Wall Street resumed its slide yesterday as unease about the wilting mortgage market and the broader economy triggered selling ahead of the unofficial start of the holiday shopping season.
  2007-11-22 12:33:34

• Credit woes, oil prices topple Dow (The Providence Journal)

  The industrial average tumbles 211 points as the mortgage market weakens, and several financial companies set new 52-week lows.
  2007-11-21 10:33:22

• Signs bad on downhill Street (Chicago Sun-Times)

  Wall Street resumed its slide Wednesday as unease about the wilting mortgage market and the broader economy triggered selling ahead of the unofficial start of the holiday shopping season.
  2007-11-22 02:14:51

• Floyd Norris: From virtuous circle to vicious credit cycle (International Herald Tribune)

  It's not just subprime anymore. Freddie Mac, the U.S. government-sponsored mortgage lending enterprise, said this week that enough borrowers were defaulting on loans that it needed to mark down the value of the loans by $1.2 billion. None of those loans were subprime.
  2007-11-22 02:00:02

• Credit Act empties Woolworths' basket (Independent Online)

  Higher interest rates and stricter credit laws have dampened consumers' appetite for Woolworths goods, but bad debts are fast disappearing.
  2007-11-22 03:46:27

• Mortgage seekers are the Main Street collateral damage of credit crunch (The Globe and Mail)

  Historically speaking, we should be paying somewhere around 5 per cent for a discounted five-year mortgage right now.
  2007-11-22 03:35:11

• Lex: Fannie and Freddie swoon

  Financial Times - Second, both have significant exposure to “triple-A” securities backed by subprime mortgages. Just as such assets are ... up with some seriously reassuring words on Tuesday on credit losses, subprime exposure and capital constraints to reverse ...
  2007-11-18 03:59:00

• Major Asian markets recover from early swoon after Wall Street plunge

  San Diego Union-Tribune - ... trading has been extremely volatile in recent months amid persistent worries over defaults in risky, or subprime, mortgages in ... It's hard to reverse because of the negative sentiment that's prevailing.” But other analysts said recent declines ...
  2007-11-20 05:41:00

• Troubled GMAC may sell off parts

  Detroit News - General Motors Corp.'s former finance arm, in a scramble to reverse lending losses that are also dragging down the automaker ... bastion of profit for GM, GMAC has been thrown into red ink this year as legions of high-risk borrowers default on mortgages ...
  2007-11-21 09:53:00

• Tougher regulation urged on reverse mortgages

  Big Pond News - Australia's corporate regulator has raised more concerns about reverse mortgages, despite industry efforts to raise lending standards. A reverse mortgage enables retirees to access the value of their homes to fund day-to-day expenses. In August, the ...
  2007-11-21 01:39:00

• Uninformed retirees eating the house

  News.com.au - Reverse mortgage industry is worth $1.8bn Borrowers often clueless about terms of the loan Guides and tools to help you manage your finances ELDERLY people eroding the equity in their homes via reverse mortgages often have little idea what they are ...
  2007-11-22 06:07:00

• House mortgage bill doesn't offer bailout (Bankrate.com via Yahoo! Finance)

  The Mortgage Reform and Anti-Predatory Lending Act of 2007 seeks to prevent borrowers and lenders from making dumb choices. It doesn't help troubled borrowers and lenders who made poor decisions in the past.
  2007-11-22 03:00:00

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