Mortgage and Financial News From 2007-12-12 Page 13

Previous Day: 2007-12-11

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• US opening offers hope for Footsie

  MSN UK News - ... also endured a difficult session, off 18p to 742p on economic worries, while a Goldman Sachs downgrade for Argos owner Home Retail Group sent the shares 10.75p lower to 352.75p, a fall of nearly 3%. The leading Footsie faller was crisis-hit mortgage ...
  2007-12-12 08:21:00

• Central banks battle credit crisis

  Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics Education World ... of Canada bonds and bonds guaranteed by the government, such as Canada Mortgage Bonds ... country has sent borrowers scurrying to other countries in search of better rates ...
  2007-12-12 08:56:00

• The Fed Primes the Money Pump

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... investors were disappointed with the Fed's 25 basis point cut to interest rates. ... Bank of America (nyse: BAC - news - people ) said mortgage losses ...
  2007-12-12 09:54:00

• Stocks Give Up Gains From Fed Plan

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife ... Fed disappointed Wall Street with a quarter-point cut in interest rates. Many investors had hoped for a half-point reduction to help the economy weather the credit and mortgage ...
  2007-12-12 12:24:00

• Fed looks to end credit crunch

  CNN Money - Economists said the auctions could help banks that have been reeling due to their exposure to subprime mortgage loans. Financial institutions such as Citigroup ( Charts , Fortune 500 ), Bank of America ( Charts , Fortune 500 ), Washington Mutual ( Charts , ...
  2007-12-12 10:01:00

• Mortgage Applications Hit Highest Level in 2 Years

  ABC News - Today's homebuyer will need to make a larger downpayment than before, but there are still plenty of loans out there, mortgage brokers say. (PhotoDisc)
  2007-12-12 05:50:00

• Fed coordinates with world central banks to deal with credit crunch

  Chicago Tribune - The action represented another step by the Fed to deal with a serious credit crunch stemming from the tightening of bank lending standards in the wake of multibillion dollar losses from a rising tide of defaults on mortgage loans. The Fed said all ...
  2007-12-12 10:58:00

• Mortgage mayhem to mar 4Q at Wachovia, Bank of America

  MSN MoneyCentral - Wachovia Corp. is doubling its expected loan-loss provision for the fourth quarter to $1 billion in excess of charge-offs. The bank had previously estimated a loan-loss provision of between $500 million and $600 million caused by loans turning sour ...
  2007-12-12 09:11:00

• UPDATE 1-PNC slashes 4th-quarter earnings outlook

  Reuters - The changes reflect a write-down of $1.5 billion in commercial mortgage loans, weak trading results amid market volatility and a higher provision for credit losses stemming from residential real estate development. "Commercial mortgage valuation ...
  2007-12-12 10:22:00

• PNC revises fourth-quarter earnings

  MSN MoneyCentral - Pittsburgh-based PNC (NYSE:PNC) said the changes reflect a write-down of $1.5 billion in commercial mortgage loans, weak trading results due to market volatility and a higher provision for credit losses stemming from residential real estate ...
  2007-12-12 10:08:00

• Fitch Ratings Affirms Mansfield Trust, Series 2001-1

  Forbes - Specifically, the certificates are collateralized by 57 fixed-rate mortgage loans, consisting primarily of industrial (37.5%), retail (32.6%), and office (16.5%) properties, with concentrations in the provinces of Ontario (45.1%), British Columbia ...
  2007-12-12 07:52:00

• PNC slashes 4th-quarter earnings outlook

  CNBC - The changes reflect a write-down of $1.5 billion in commercial mortgage loans, weak trading results amid unprecedented market volatility and a higher provision for credit losses stemming from residential real estate development. PNC also cited an ...
  2007-12-12 09:32:00

• First Houston Mortgage Promotes Brad Mauritzen to CFO

  Forbes - Prior to joining First Houston Mortgage, he was secondary marketing manager for a Houston-based lender where he managed the delivery of mortgage loans to secondary market investors. Additionally, he served as an analyst for a Houston-based energy ...
  2007-12-12 06:33:00

• House ponders mortgage bankruptcy bill (CNN Money)

  Committee to vote Wednesday; lending industry opposed to proposal, which would aid bankrupt homeowners by letting judges reduce their loans.
  2007-12-12 05:26:10

• Early Christmas for Mortgage Borrowers (The Motley Fool via Yahoo! News)

  There's some good news on the mortgage front for a change. Despite all indications to the contrary, mortgage lending has not come to a grinding halt. In fact, for those who have good credit and qualify for standard fixed-rate loans, mortgages have actually gotten more affordable.
  2007-12-12 09:43:12

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