Mortgage and Financial News From 2007-10-11
Previous Day: 2007-10-10
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Few lenders are willing to make mortgage modifications, survey says
San Francisco Gate - Mortgage lenders rarely help homeowners struggling with rapidly increasing adjustable mortgages, according to a survey of 33 ... The second-most-common result was a short sale, selling a home for less than is owed on the mortgage. In recent months ...
2007-10-11 04:15:00 -
UPDATE 1-Goldman sees higher credit losses on mortgages
Reuters - The assets, which include corporate debt and subprime mortgages, are seen as risky because they trade infrequently, preventing companies from gathering reliable market prices. In the second quarter, Goldman Sachs held $54.1 billion in Level 3 assets ...
2007-10-10 02:46:00 -
Europe's Second-Quarter Economic Expansion Slows (Update1)
Bloomberg - Europe's Second-Quarter Economic Expansion Slows (Update1) By Fergal O'Brien Oct. 11 (Bloomberg) -- Europe's economy grew at ... month, the commission lowered its 2007 growth forecast to 2.5 percent from 2.6 percent after defaults on subprime mortgages in ...
2007-10-11 03:10:00 -
New CGT rules 'will help house prices'
Times Online - Second-home owners and buy-to-let investors are set to reap vast tax savings on profits from their properties when new ... Also in Property & Mortgages
2007-10-11 02:49:00 -
Morgan Stanley Traders Lost $390 Million in One Day (Update1) (Bloomberg.com)
Oct. 10 (Bloomberg) -- Morgan Stanley, the world's second- biggest securities firm, said its quantitative strategy traders lost $390 million during a single day in August as their computer models failed to account for ``widespread'' investor selling.
2007-10-10 03:27:51 -
Goldman CDO, CLO Holdings Fall 53 Percent in Quarter (Update2) (Bloomberg.com)
Oct. 10 (Bloomberg) -- Goldman Sachs Group Inc., the world's biggest securities firm, said its holdings backed by pools of bonds and loans dropped 53 percent in the third quarter, the second consecutive decline amid a global credit contraction.
2007-10-10 05:09:57 -
Bank of Korea Keeps Key Rate at Six-Year High of 5% (Update1) (Bloomberg.com)
Oct. 11 (Bloomberg) -- South Korea's central bank kept its key interest rate at a six-year high for a second month as a stronger won and fallout from the U.S. housing slump threatened to dent economic growth.
2007-10-10 06:24:56 -
ARM rescue program ramps up (Denver Post)
A new federal loan program designed to help borrowers cope with rising payments on adjustable-rate mortgages is kicking into gear.
2007-10-11 12:12:12 -
U.S. Home Foreclosures Doubled in September, RealtyTrac Says (Bloomberg.com)
Oct. 11 (Bloomberg) -- U.S. foreclosures doubled in September from a year earlier as subprime borrowers struggled to make payments on their adjustable-rate mortgages, RealtyTrac Inc. said.
2007-10-11 03:55:07 -
Home Foreclosures Doubled in September on Loan Rates (Update1) (Bloomberg.com)
Oct. 11 (Bloomberg) -- U.S. home foreclosures doubled in September from a year earlier as subprime borrowers struggled to make payments on their adjustable-rate mortgages, RealtyTrac Inc. said.
2007-10-11 04:55:24 -
Goldman sees higher credit losses on mortgages (Reuters via Yahoo! News)
Goldman Sachs Group Inc has raised the estimated percentage of credit losses on its mortgage-backed securities portfolio, the U.S. investment bank disclosed on Wednesday.
2007-10-10 02:21:06 -
Blacks' Retirement Security at Risk
Newsday - McDonald's Corp. discovered in 2004 that only half of its black store managers contributed to the ... Racial discrimination by mortgage lenders may have heightened blacks' interest in owning a home, she said. Blacks' lack of participation in ...
2007-10-11 01:37:00 -
House prices fall for second month
MSN UK News - The group said five interest rate rises combined with mortgage groups tightening their lending criteria in the face of the global credit crunch ... London was the only region to buck this trend. RICS spokesman Jeremy Leaf said: "Although house prices ...
2007-10-11 03:39:00 -
DATAWATCH Weak house price survey points to sharp slowdown in UK ...
Forbes - ... to slow on the back of the Bank of England's 125-basis point worth of interest rate ... The survey not only adds to the currently markedly growing evidence that the ... Deutsche Bank (nyse: DB - news - people ), said rises in mortgage ...
2007-10-11 02:35:00 -
CORRECT Philippine Sept portfolio inflow 38.2 mln usd, reversing ...
Forbes - ... the net inflow in August to investor concerns related to the US subprime mortgage ... remains solid, after the Federal Reserve's larger-than-expected half-point interest ... News and its third party content providers for your personal information only ...
2007-10-11 03:46:00