Mortgage and Financial News From 2007-11-18 Page 01
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China Freezes Lending to Curb Investing Frenzy
Wall Street Journal - Individuals may be less affected than businesses because smaller loans may not raise eyebrows like big corporate working-capital loans. But at least one property agency in Shanghai is advising clients to delay mortgage applications until January. ...
2007-11-18 09:35:00 -
Dexia Third-Quarter Profit Falls 28% on U.S. Unit (Update5)
Bloomberg - Dexia followed London-based Barclays Plc and HSBC Holdings Plc in reporting writedowns this week after record foreclosures on U.S. mortgage loans to subprime borrowers roiled credit markets. Dexia fell 1.49 euros to 17.81 euros, the ...
2007-11-15 03:55:00 -
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Pocono Record - The bill also strengthens mortgage servicing requirements, such as preventing servicers of loans from requiring forced-placement insurance on loans when servicers already are already protected from catastrophic loss of a home. It also requires ...
2007-11-18 09:21:00 -
Debt advisers accuse bank of being too quick to repossess
Guardian Unlimited - In many cases the customers will attempt to protect their mortgage and stay solvent by cutting back on personal loan repayments. Defaults on unsecured personal loans cannot trigger repossession orders but must be pursued through the courts. However ...
2007-11-18 03:30:00 -
Huntington Bancshares on downward review after Franklin announcement ...
CNBC - On Nov 15 Franklin -- a mortgage lender who raises money by borrowing from Huntington -- said it needs to set aside a "substantial" amount of cash because many of its loans are not likely to be repaid. Moody's stated several reasons for initiating the ...
2007-11-18 09:14:00 -
EMERGING MARKETS REPORT: Opportunities Still Abound In Thriving ...
FXStreet.com - Mortgage loans to GDP ratio in Turkey is currently around 4.5% compared with 0.6% three years ago. "I think the challenges that Garanti faces are not very different from those which the overall banking market faces," Ozturk said. "One of them is the ...
2007-11-18 09:49:00 -
St George to raise $400m through preference shares
News.com.au - With a smaller deposit base than the big four banks, St George is more reliant on securitising its mortgage debt to investors to fund its home loans. But, as with other smaller lenders relying on securitisation funds, St George has felt the impact of ...
2007-11-18 09:28:00 -
US RMBS worth 3.7 bln usd downgraded, 21.53 bln on negative watch - S ...
CNBC - MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services cut its ratings on about 3.7 bln usd worth of US securities backed by mortgage loans to people with poor credit histories, and signalled it may may lower its ratings on an additional 21 ...
2007-11-17 03:53:00 -
KTB says more reserves needed for offshore debt
Bangkok Post - President Apisak Tantivorawong said additional losses were expected as rising interest rates affect the asset quality of underlying mortgage loans. Higher interest rates for borrowers could result in rising loan defaults as mortgages transition from ...
2007-11-18 09:42:00 -
Third-quarter earnings better than at first blush, but beware inflation (BizJournals)
As the third-quarter earnings season winds down, the stock market has taken a tumble and the headlines blare huge losses tied to subprime mortgage loans.
2007-11-18 09:59:55 -
Loss of Mortgage Client Hits WNS (Computer Business Online via Yahoo! UK & Ireland News)
Indian BPO firm WNS Holdings reported a 34% increase in revenue for its second fiscal quarter, up to $115.6m, but the company saw its year-ago profits turn into a loss due to the loss of one of its clients, mortgage lender First Magnus Financial.
2007-11-18 10:44:19 -
300,000 more foreign workers than believed, as Cameron vows to limit ...
Scotsman - There are no council houses available (outwith Glasgow boarded-up sink estates) and the cost of a mortgage makes owning your own flat an increasingly unattainable dream. As for the story itself 300,000 is only the tip of the ice-berg-these people are ...
2007-11-18 02:40:00 -
'Students will see the decision as a betrayal'
Scotsman - ... charges will be phased out at a cost of £97 million and business rates cut for ... The budget is set against the lowest ever devolution settlement from Westminster ... Where can I get a mortgage with 1.4% interest and no need to ever repay the capital ...
2007-11-18 02:40:00 -
Japan's Nikkei Rises, Led by Toyota on Weaker Yen; Resona Gains
Bloomberg - The Topix index fell to 1,471.67 at the end of last week, its second- lowest close ... Lines Ltd. led shipping companies lower after an index of freight rates fell for a ... Resona said it has no U.S. mortgage-related assets, while rivals including Aozora ...
2007-11-17 03:53:00 -
Tensions Between Investors And Fed Likely to Simmer
Wall Street Journal - ... the credit crunch and the Federal Reserve's insistence it isn't inclined to cut rates ... The 10-year yield -- the benchmark for fixed-rate-mortgage loans among other types of debt -- exited the week at 4.150%, the lowest since Sept. 13, 2005.
2007-11-17 03:53:00