Mortgage and Financial News From 2007-9-22 Page 2
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Macklowes On a Wire
Wall Street Journal - Nonetheless, the credit crisis has made refinancing extremely difficult, as few commercial-mortgage loans are being done at all, much less for properties that don't provide enough cash flow to cover the current debt service, real-estate experts say. ...
2007-09-22 12:15:00 -
Barclays risks loss in sale of sub-prime arm
Daily Telegraph - The FirstPlus portfolio mostly comprises second mortgages – loans secured against the borrower's home, over and above a mortgage. In an environment of falling house prices, these loans effectively become unsecured borrowings – and are one of the ...
2007-09-22 08:15:00 -
HSBC set to close its US subprime mortgage unit
Taipei Times - HSBC Holdings' earnings have been heavily hit by its heavy exposure to the troubled US subprime mortgage market, where home loans are given to people with patchy credit histories. HSBC said its closure of Decision One Mortgage would entail a goodwill ...
2007-09-22 06:28:00 -
Why Northern Rock should have seen it coming
Observer - Since he took over in 2001, the bank's assets, largely made up of mortgage loans, more than trebled from £31bn to £100.5bn in 2006, while retail deposits from savers rose by just over two-thirds, from £13.4bn to £22.6bn.The City was equally ...
2007-09-22 03:22:00 -
Title business boomed, but the cash vanished
St. Petersburg Times - The stolen funds were replaced by money coming in for new mortgage loans, investigators said, but if the flow of new money was interrupted, the scheme faced collapse. Things fell part in January 2006, after a tip from an insider. An army of ...
2007-09-22 09:27:00 -
HSBC Finance mortgage-lending unit to close (The Arizona Republic)
London's HSBC Finance Corp. is closing a non-prime mortgage-lending unit, affecting an undisclosed number of jobs at an office in Phoenix.
2007-09-22 08:08:55 -
Hong Kong shares close at new high as HKEx, commodities, airlines ...
Forbes - Today's session brings to a close a week of strong market momentum following half a percentage point cut in key US interest rate and 25 basis points cuts in prime lending rates by local banks. The Hang Seng Index closed up 142.65 points or 0.56 pct at ...
2007-09-21 02:37:00 -
Gold Climbs to 27-Year High As Dollar Slumps Against Euro
Blackenterprise.com - US interest rate cuts and fears of new sub-prime credit problems sparked the dollar's latest fall. The Canadian dollar reached parity with the US greenback this week for the first time since 1976. Gold was fixed at $35 an ounce between 1944 and 1971 ...
2007-09-22 03:14:00 -
Generation Rock: living on borrowed time?
Daily Telegraph - The main impact is in the sub-prime sector, where the majority of lenders are funded through the capital markets," says ... People are worried about interest rate movements and whether they can afford them." This question of confidence in the market ...
2007-09-22 05:23:00 -
Aussie 'can ride cycle to $US1'
The Australian - Our dollar is now a full US8c above its level during the dip seen on August 17, when the Australian share market was being hammered by sub-prime nerves. The Australian dollar, with its relatively high rate of interest, has been thrown around by the ...
2007-09-22 04:47:00 -
Risk-savvy investors get more interest
Stuff - Others in this group are Allied Prime, Citywide, Clegg & Co, Finance Direct, General Finance, Citywide Finance, Gold Band ... Interest rate watcher David Chaston of Interest.co.nz said those rate moves were not enough. Even the best finance company ...
2007-09-22 01:56:00 -
Fed rate cut likely to impact economy, local experts say
Griffin Daily News - The (new) interest rate will put more pressures on banks,” said Chuck Copeland, president of First National Bank of ... As an indirect result of the Fed’s rate cut, the prime lending rate also dropped from 8.25 percent to 7.75 percent, as it ...
2007-09-22 03:07:00 -
Big move, bigger risks: Consumers to reap benefits of lower rate
Jackson Clarion-Ledger - Prime Rate: Benchmark rate used by banks to set interest rates on a variety of loans. Discount Rate: The interest rate the Federal Reserve charges banks to borrow money. London Interbank Offered Rate: Rate used for some loans and investment products ...
2007-09-21 09:13:00 -
News Minute: Source: Fla. Democrats stick with early primary...Sources ...
WDAM-TV - Rate Your Intake Check Your Cholesterol Just How Sleep-Deprived Are You?!? Are You ... Delaware State University students say they're looking for a third person of interest ... UNITED NATIONS (AP) - Secretary of State Condoleezza Rice has met with Iraqi Prime ...
2007-09-22 03:14:00 -
City predicts interest rate cut
Guardian Unlimited - The Bank of England could be forced to make a confidence-boosting cut in interest rates as soon as next month, to cushion the economy from the credit crunch. As the fallout from America's sub-prime loans crisis spreads, City analysts have been ...
2007-09-22 03:50:00