Mortgage and Financial News From 2007-8-24 Page 11

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  • (AFX UK Focus) 2007-08-24 11:06 GMT: French govt to double tax break on mortgage interest for 1st year of loans (Interactive Investor)

    PARIS (Thomson Financial) - The French government is to double a tax break on mortgage interest payments for the first year of new home loans, finance minister Christine Lagarde announced.
    2007-08-24 10:37:18

  • Lender tries to reassure its clients

    Boston Globe - Lending in Massachusetts by Countrywide, the state's second-largest mortgage underwriter, has fallen slightly this year compared to last year as housing sales have declined. Through July, the company made 12,753 purchase and refinancing mortgages ...
    2007-08-24 05:59:00

  • UPDATE 3-FDIC eyes markets, banks as troubled mortgages up

    Reuters - UPDATE 3-FDIC eyes markets, banks as troubled mortgages up ... We remain vigilant," FDIC Chairman Sheila Bair said at a news conference on U.S. banks' second-quarter rise in noncurrent ...
    2007-08-22 07:31:00

  • Your House Is Worth Less? Good

    Time - Nowhere is the real estate insanity of recent years more vividly on display than in the market for second mortgages. Lenders hawk them like patent medicines in the 19th century, as a cure for all your ills. And even if you don't take out a second ...
    2007-08-23 11:33:00

  • Feds Take Over State's 8th Largest Credit Union

    News 4 - (AP) FORT COLLINS, Colo. Federal officials have taken control of the state's eighth-largest credit union. The Fort Collins Coloradoan said non-payments of second mortgages and construction loans forced the Norlarco credit union into conservatorship ...
    2007-08-23 06:47:00

  • Their own asphalt playground

    Roanoke Times - While families move from California to North Carolina, siphon college-fund money and take second mortgages to help a child's racing prospects, a personal test track could be the next item they consider to feed NASCAR's obsession for young racers. Cup ...
    2007-08-24 05:24:00

  • Bank profits down 3.4 percent in 2Q

    US News and World Report - That's the highest level of noncurrent loans at U.S. thrifts since 1993, with most of the problems in home mortgages. Still, given the circumstances, Bair said, the industry is in sound financial condition as the market adjusts and its second-quarter ...
    2007-08-24 01:56:00

  • Opsware Burns Short Sellers After Takeover Pushes Shares Higher

    Bloomberg - Opsware's gain last month was the second-biggest among Nasdaq Stock Market companies whose short interest was above 10 percent, behind Emcore Corp., according to exchange data as of July 10. Short sellers dismissed recommendations by Deutsche Bank ...
    2007-08-24 09:56:00

  • Bank of China admits sub-prime exposure

    Guardian Unlimited - ... and Morgan Stanley immediately cut their stock ratings on BOC Hong Kong, the city's second-biggest lender, citing concerns that its sub-prime exposure could hit profits. BOC Hong Kong has invested $1.6bn in securities backed by sub-prime mortgages. ...
    2007-08-24 08:15:00

  • Wachovia Says Golden West Unit Is Doing OK

    The Ledger - The bank reported a sharp increase in unpaid mortgages and loan charge-offs in the second quarter and earmarked $179 million to pay for future credit losses, about three times more than the company set aside one year earlier. "It's hard at this point ...
    2007-08-24 09:56:00

  • Japanese Bonds Advance as Subprime Concerns Push Down Stocks (Bloomberg.com)

    Aug. 24 (Bloomberg) -- Japan's five-year bonds rose, halting two days of declines, on speculation losses tied to U.S. mortgages will slow global economic growth.
    2007-08-24 04:19:57

  • Bank of China Shares Fall in Hong Kong on Subprime (Update5) (Bloomberg.com)

    Aug. 24 (Bloomberg) -- Bank of China Ltd. had its biggest drop since going public last year after the nation's second- biggest bank said it holds almost $9.7 billion of securities backed by U.S. subprime loans, the most of any Asian company.
    2007-08-24 10:03:40

  • Bank of China in subprime provision (Financial Times)

    Bank of China, the country's second biggest lender, told investors yesterday that it held nearly $10bn (£5bn, €7bn) of securities backed by US subprime mortgages, the most of any bank in Asia.
    2007-08-24 02:07:05

  • Bank of China in subprime provision (FT.com via Yahoo! News)

    Bank of China, the country's second biggest lender, told investors on Thursday that it held nearly $10bn of securities backed by US subprime mortgages, the most of any bank in Asia.
    2007-08-23 07:40:42

  • KC, suburbs can break down wall of distrust

    Kansas City Star - There she was last week, wearing her clerical collar, beaming on the front page of The Star after being found guilty of mortgage fraud. For many suburbanites (and Kansas Citians as well), McFadden-Weaver had just become yet another disgraced ...
    2007-08-22 05:29:00

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