Mortgage and Financial News From 2007-8-20 Page 15

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• Businesses Pinched as Loan Spigot Shuts Off

  Washington Post - ... well of cheap loans is running dry. The corporate bond market, the MasterCard for U.S. companies, has slowed to levels not seen since the recession of the early 1990s, as rising defaults among mortgage borrowers are causing lenders to question loans ...
  2007-08-20 05:00:00

• Japanese govt bond prices close mostly lower on receding credit crunch ...

  Forbes - However with worries about fallout from the troubled US subprime mortgage loans market far from over, many investors were unwilling to aggressively unload short- or medium-dated JGB's while modest buying continued at the long end of the yield curve. ...
  2007-08-20 09:17:00

• South Korean Stocks Surge

  Forbes - The Kospi slumped Friday to its lowest finish since May 21 as foreign investors sold shares amid ongoing concerns over U.S. subprime mortgage loans. Then after Asian markets had closed, the U.S. Fed cut its key discount rate 50 basis points to 5.75 ...
  2007-08-20 08:13:00

• Fed's calming influence limited

  Times Union - Big institutional investors from hedge funds to investment banks are still wrestling with credit problems spawned by distressed subprime mortgage loans. The housing market still looks gloomy. And the wave of takeovers that drove stocks to new highs ...
  2007-08-20 08:56:00

• Company Profile for Korea Exchange Bank symbol lookup

  Reuters UK - Korea Exchange Bank (the Bank) is a financial and banking service provider. The Bank's offerings are organized in two main groups. Its personal finance services include deposits, trusts, mortgage loans, unsecured personal loans, loans secured by ...
  2007-08-20 02:01:00

• Annaly Plans Mortgage Buyer IPO

  Street.Com - The New York-based mortgage real estate investment trust said Chimera Investment will "invest in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes." Chimera is managed ...
  2007-08-17 11:37:00

• Home loans cut off at the passkey

  NorthJersey.com - Some New Jersey home buyers and mortgage-refinance customers became victims of the subprime and alternative mortgage meltdown before they even got their loans. When lenders lost financial backing, hundreds of would-be borrowers were left wondering ...
  2007-08-20 09:17:00

• Mortgage lender Countrywide begins lay-offs: report

  Reuters - NEW YORK (Reuters) - Countrywide Financial Corp, which is trimming costs amid turbulent credit markets, began laying off staff involved in originating loans, according to a report on Monday in the Wall Street Journal's online edition, citing an ...
  2007-08-20 07:37:00

• Mortgage funds not drying up in local market

  Montgomery Advertiser - The discount rate is what the Fed charges banks to borrow money, and the lowered rate made it easier for banks making mortgage loans to fund those loans. Earlier in the month, Countrywide made efforts to purchase Atlanta-based HomeBanc mortgage ...
  2007-08-20 09:03:00

• Mortgage lender Countrywide begins lay-offs: report (Reuters via Yahoo! News)

  Countrywide Financial Corp, which is trimming costs amid turbulent credit markets, began laying off staff involved in originating loans, according to a report on Monday in the Wall Street Journal's online edition, citing an internal e-mail.
  2007-08-20 07:23:07

• Query UA expert online about woes of mortgage firms (Arizona Daily Star)

  The nation's mortgage industry woes hit home last week when Tucson-based mortgage lender First Magnus Financial Corp. stopped financing loans and laid off nearly all of its work force, including about 700 employees in Tucson.
  2007-08-20 07:12:07

• Need tuition? Don't count on home equity loans

  Pittsburgh Post-Gazette - And while other banks have not publicly stated a deferment on such second mortgages, many have internally tightened their credit policies, creating the same net effect. "I'm sure there are people out there not able to send their kids to college ...
  2007-08-17 12:53:00

• Market news: Discovery Channel’s owner acquires environmental Web ...

  Kansas City Star - ... Martha Stewart Living Omnimedia Inc . invested $10 million in closely held Wilton Products Inc . to expand in the crafts market. • MetLife had about $2.3 billion in securities linked to subprime residential mortgages at the end of the second quarter ...
  2007-08-18 05:27:00

• Zurich Financial Largely Averts Subprime Damage

  Wall Street Journal - It said its portfolio is predominantly invested in highly rated bonds with limited exposure to securities backed by crumbling U.S. subprime mortgages. The Swiss insurer said its second-quarter net profit rose to $1.3 billion from $1.2 billion a year ...
  2007-08-17 12:53:00

• Did Countrywide Get a Hand from the Fed?

  BusinessWeek - ... analyst at Standard & Poor's, has warned that 37.5% of the loans Countrywide holds are option adjustable rate mortgages. He ... Second, even if defaults keep rising, a Fed cut in interest rates would help by lowering everybody's cost of borrowing. It ...
  2007-08-20 05:36:00

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