Mortgage and Financial News From 2007-8-24 Page 2

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  • Industry thrives despite recent upheavals in financial markets

    Times Online - Analysts are divided on whether the Bank of England will go ahead now with a rise in interest rates that was believed to be a near-certainty as recently as three weeks ago. The Bank’s Inflation Report published at the start of this month showed ...
    2007-08-23 12:53:00

  • Top FP News

    National Post - Earlier this month investors were convinced that the Fed would have to make an emergency cut in benchmark interest rates before its next policy meeting on September 18 to free up liquidity as financial institutions had increasing difficulty ...
    2007-08-24 09:59:00

  • Dollar trades mostly lower

    FXStreet.com - NEW YORK (AP) - The dollar traded mostly lower Friday despite encouraging U.S. economic reports as traders eyed a possible cut in U.S. interest rates. Analysts say any such move is still weeks away and that worries about the U.S. subprime mortgage ...
    2007-08-24 08:18:00

  • Community Bank of Orange, N.A. Announces Second Quarter 2007 Earnings (Marketwire via Yahoo! Finance)

    Community Bank of Orange, N.A. today reported a net loss of $(81,000), or $(0.04) per share, for the three-month period ending June 30, 2007. By comparison, the Bank's net loss for the second quarter of fiscal 2006 was $(99,000), or $(0.05) per share.
    2007-08-24 09:22:00

  • Minyanville Education: The Liquidity Addiction (Minyanville via Yahoo! Finance)

    Liquidity is among the most important factors influencing market behavior today. Why is this so and where does liquidity come from?
    2007-08-24 07:45:00

  • Quality Home files Ch. 11, Amstar shuts mtg unit

    Reuters - NEW YORK, Aug 22 (Reuters) - Quality Home Loans, a subprime mortgage lender, has filed for Chapter 11 bankruptcy, joining at least a dozen other home loan providers to seek court protection this year as the U.S. housing market slumped. Meanwhile ...
    2007-08-22 08:42:00

  • Indian outsourcers start to feel subprime fallout

    Reuters - Last week, India-based outsourcing company WNS (Holdings) Ltd (WNS.N: Quote , Profile , Research ) lowered its fiscal 2008 outlook as work stopped coming from U.S. mortgage lender First Magnus Financial Corp, which closed funding home loans and ...
    2007-08-24 01:45:00

  • Chinese Banks Disclose Credit Exposure

    Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... banks are just beginning to disclose their exposure to the U.S. subprime mortgage ... China's biggest lender, Industrial & Commercial Bank of China, said Thursday that ...
    2007-08-24 05:41:00

  • Assurances on buybacks cost a lender

    International Herald Tribune - Expanding rapidly as the nation's largest home mortgage company, Countrywide Home Loans quietly promised investors who bought its loans that it would repurchase some if homeowners got into financial difficulties. But now that Countrywide itself is ...
    2007-08-23 05:39:00

  • Wachovia sues Thornburg Mortgage

    Washington Post - ... Bank, a unit of Wachovia Corp (WB.N), has sued Thornburg Mortgage Inc (TMA.N) for breach of contract over the mortgage lender's ... Mortgage lenders have increasingly had trouble financing their operations as investors panic about the home loan market ...
    2007-08-24 05:41:00

  • Moody's, S&P Face More EU Scrutiny on Mortgage Bonds (Update1)

    Bloomberg - Aug. 24 (Bloomberg) -- European Union regulators extended an examination of credit rating companies' role in helping create ``structured finance'' instruments such as the subprime-mortgage bonds that are roiling debt markets. The Committee of ...
    2007-08-24 05:19:00

  • Risky home loan ads abound despite crisis

    MSNBC - On AOL.com this week, the Internet-based loan company LendingTree offered "Bad credit options" and a $425,000 loan for only $1,376 a month. And Countrywide Financial , the nation's largest mortgage lender, declared, "Bad Credit? Call Today. Refinance ...
    2007-08-24 05:48:00

  • Wachovia sues Thornburg Mortgage (Reuters via Yahoo! News)

    Wachovia Bank, a unit of Wachovia Corp , has sued Thornburg Mortgage Inc for breach of contract over the mortgage lender's failure to pay it $5.1 million.
    2007-08-24 05:41:23

  • Nation's top mortgage lender gets boost (Tulsa World)

    An employee of Countrywide Financial Corp. walks into the mortgage lender’s Northridge branch Tuesday in Los Angeles.
    2007-08-24 10:55:54

  • Bank of America gains 'rent-to-own' option with mortgage lender deal (The News Journal)

    CHARLOTTE, N.C. -- Earlier this year, Bank of America Corp. chief executive Ken Lewis was asked about the idea of buying a stand-alone mortgage lender. "We like the product, but we don't like the business," he said then.
    2007-08-24 07:53:16

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