Mortgage and Financial News From 2007-11-8 Page 21
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Aegon Profit Rises; Wynaendts to Succeed Shepard (Update2)
Bloomberg - Nov. 8 (Bloomberg) -- Aegon NV, the second-largest Dutch insurer after ING Groep NV, said third-quarter profit rose 47 ... The company earlier said it held asset-backed securities, mostly rated AAA or AA, that were linked to U.S. subprime mortgages ...
2007-11-08 01:37:00 -
Gafisa Net Gains on Rising Demand for Brazilian Homes (Update1)
Bloomberg - Nov. 8 (Bloomberg) -- Gafisa SA, Brazil's second-largest real estate company, said earnings gained 12 percent in the third ... Homebuyers are gaining greater access to home loans as banks lengthen the term of mortgages. In July, Gafisa began ...
2007-11-08 02:56:00 -
Mortgage players speed-date to lift subprime gloom
MSN MoneyCentral - I came down to hopefully meet with some financial institutions that have first and second mortgages to sell," said Ray. "We want to grow our business and we don't think manufactured housing will allow us to do that," he said. The conference ...
2007-11-07 08:55:00 -
Global shares hit by credit fears
BBC Business - Morgan Stanley, the second-biggest investment bank in the US, said its $3.7bn loss from exposure to sub-prime mortgages was expected to cut its fourth-quarter profits by about $2.5bn. The bank also said that it could lose up to $6bn if all of its ...
2007-11-08 03:10:00 -
Asian Stocks Slump as Dollar Tumbles, Subprime Losses Widen
Bloomberg - Morgan Stanley, the second-biggest U.S. securities firm, said its investment holdings related to U.S. subprime mortgages lost $3.7 billion of their value in the last two months. Nasdaq 100 futures slid 1.2 percent in after-hours trading ...
2007-11-08 01:16:00 -
India's Sensex Falls to Two-Week Low; ICICI, Reliance Decline
Bloomberg - Morgan Stanley, the second-biggest U.S. securities firm, said its holdings of assets related to U.S. subprime mortgages have lost $3.7 billion of their value. The Standard & Poor's 500 Index fell 2.9 percent in the U.S. yesterday, the ...
2007-11-08 03:17:00 -
China Stock Index Slides, Led by Vanke: World's Biggest Mover
Bloomberg - China raised the interest rates on mortgages and the down payment for second homes in September. The tax bureau and finance ministry may also impose a real-estate tax on high-end and large property developers, the China Securities Journal said on Oct ...
2007-11-08 12:18:00 -
South Korean Stocks Fall on U.S. Outlook; Samsung Leads Losses
Bloomberg - Morgan Stanley, the second-biggest U.S. securities firm, said its subprime mortgages and related securities have lost $3.7 billion in value during the past two months. Weak Dollar The collapse of the subprime mortgage market ...
2007-11-07 09:48:00 -
Bankruptcy Law Backfires on Banks as Foreclosures Offset Gains
Bloomberg - Lenders began the process of seizing properties on 0.65 percent of U.S. mortgages in the second quarter, a record in a 35-year-old Mortgage Bankers study. The percentage of subprime borrowers making late payments increased to 14.82, a five-year high ...
2007-11-08 04:15:00 -
House prices dip for second month in a row
This is Money - Mortgages & homes - House prices ... having already risen by 5% from January to June 2007, this indicated the bank expected a substantial slowdown in the second ...
2007-11-08 04:15:00 -
MORGAN'S $3.7B LOSS IN VALUE
New York Post - November 8, 2007 -- Morgan Stanley, the second-biggest U.S. securities firm, said its subprime mortgages and related securities have lost $3.7 billion of their value. The decline may cut fourth-quarter earnings by $2.5 billion, the New York-based ...
2007-11-08 03:10:00 -
10Q clue to Citigroup’s financial headache (Financial Times)
When Citigroup announced – hot on the heels of Chuck Prince’s departure as chairman and chief executive – additional writedowns of up to $11bn related to subprime mortgages, the most surprising thing was that many of the losses were on $43bn worth of off-balance-sheet exposures.
2007-11-07 03:12:09 -
F&P Appliances Forecasts Reduced U.S. Sales on Housing Slump (Bloomberg.com)
Nov. 8 (Bloomberg) -- Fisher & Paykel Appliances Holdings Ltd., a New Zealand company that licenses its technology to Whirlpool Corp., forecast a drop in U.S. sales in the second half because of a slump in demand for housing.
2007-11-07 04:15:13 -
Cuomo widens loan probe (The Charlotte Observer)
New York Attorney General Andrew Cuomo on Wednesday subpoenaed Fannie Mae and Freddie Mac as he expanded his investigation into "widespread" collusion between real estate appraisers and lenders including Washington Mutual Inc. Cuomo is seeking information on whether home loans bought by the two biggest investors in U.S. mortgages were based on tainted property appraisals. Investment banks were ...
2007-11-08 12:10:01 -
Gafisa Net Gains on Rising Demand for Brazilian Homes (Update1) (Bloomberg.com)
Nov. 8 (Bloomberg) -- Gafisa SA, Brazil's second-largest real estate company, said earnings gained 12 percent in the third quarter as lower borrowing costs spurred demand for homes.
2007-11-08 02:58:39