Mortgage and Financial News From 2007-10-2 Page 2

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  • How Nikko Cordial Can Help Citigroup

    Wall Street Journal - ... Japanese brokerage Nikko Cordial Corp. it doesn't already own for $4.6 billion cements its commitment to the world's second ... 5.9 billion write-down for the third quarter for soured leveraged-buyout loans, securities backed by subprime mortgages and ...
    2007-10-02 09:15:00

  • Charleston Daily Mail: Hats off

    Charleston Gazette - According to the Mortgage Bankers Association, 26 percent of West Virginians with sub-prime, adjustable-rate mortgages were delinquent during the second quarter of 2007. One in eight West Virginians with such loans faced foreclosure in September ...
    2007-10-02 09:51:00

  • RAMS customers hit with second rate rise

    News.com.au - OVER 45,000 RAMS Home Loans customers have been dealt a second mortgage rate rise in six weeks, after the struggling lender ... said in August that it was struggling to borrow the $6 billion from overseas investors that it needs to fund future mortgages ...
    2007-10-02 02:55:00

  • Morgan Stanley Cuts 600 Jobs in Home-Loan Business (Update2) (Bloomberg.com)

    Oct. 2 (Bloomberg) -- Morgan Stanley, the second-biggest U.S. securities firm, plans to cut 600 jobs after a decline in mortgage-related revenue contributed to lower third-quarter earnings than analysts estimated.
    2007-10-02 01:49:24

  • Outlook: Speculation Kills (Washington Post)

    "Twenty years ago, the Slavic Village neighborhood of Cleveland was a tightly knit community of first- and second-generation Polish and Czech immigrants. Today, it's in danger of becoming a ghost town, largely because a swarm of speculators, real estate agents, mortgage brokers and lenders saw an opportunity to make a buck there.... The neighborhood wasn't always a haven for criminals -- not ...
    2007-10-02 04:44:38

  • BOE Says Receives No Bids In Second Emergency 3-Month Tender (Nasdaq)

    LONDON -(Dow Jones)- The Bank of England Tuesday said that for a second week it had received no bids for three-month loans under its emergency facility.
    2007-10-02 07:26:45

  • RAMS customers dealt second blow (Daily Telegraph)

    OVER 45,000 RAMS Home Loans customers have been dealt a second mortgage rate rise in six weeks, after the struggling lender was yesterday handed a $140 million rescue package by the Westpac Bank.
    2007-10-02 01:00:00

  • Mutual funds switching away from US

    DAWN Group - The bursting of US housing and mortgage market bubbles has suddenly been replaced by ... decision two weeks ago to combat a US credit market seizure with lower interest rate ... estimate that equity markets in Brazil, Russia, India and China represent only ...
    2007-10-02 09:36:00

  • Markets continue to rise but US dollar slides

    World Socialist Web Site - In the two weeks since the US Federal Reserve Board cut interest rates by half a ... According to Sarkozy, the euro zone “should not be the only area in the world ... downs of $1.4 billion on leveraged buyout commitments, as well as losses on mortgage ...
    2007-10-02 08:46:00

  • Poll by December

    News.com.au - ... many key issues and can only respond with more spin and promises to fix everything years in the future. As for the Howard government being an "unmitigated disaster" ? My wages are great, my family and friends are all employed, my mortgage interest ...
    2007-10-02 08:10:00

  • Economy steers sales of autos onto rough road

    St. Petersburg Times - ... nation's No. 2 automaker in sales, trailing only GM ... Ballew said the Federal Reserve's interest rate cut in the middle of September didn't have an immediate impact on sales but helped calm the market and ensure that the tightening mortgage market won't ...
    2007-10-02 09:08:00

  • Greenspan defends U.S. subprime mortgage sector

    International Herald Tribune - Wall Street is eager for more evidence to support the case for further interest rate cuts ... authority to manage threats to the financial system and restore confidence in the mortgage markets. Restoring the secondary market for mortgages "can only be ...
    2007-10-02 11:42:00

  • Students' dangerous debt

    St. Petersburg Times - ... Hill, Conn., faces paying $1,600 a month on his student loan on top of a $2,300 mortgage ... What is your lowest interest rate and fee combination and how can I get it? Is the rate only for a limited period, or is it for the life of the loan?
    2007-10-02 09:08:00

  • Possible Northern Rock Rescuer Raises £15 Billion: FT

    CNBC - JC Flowers , the private equity group that has expressed interest in troubled U.K. mortgage bank Northern ... The paper said most bidders who had expressed interest in buying part or all of Northern Rock had given up, and that only JC Flowers and the ...
    2007-10-02 09:29:00

  • Possible Northern Rock rescuer raises funds (Reuters via Yahoo! UK & Ireland News)

    JC Flowers, the private equity group that has expressed interest in troubled UK mortgage bank Northern Rock, has secured about 15 billion pounds ($30.64 billion) of funding which could be used for a takeover, the Financial Times reported on Wednesday.
    2007-10-02 05:20:00

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