Mortgage and Financial News From 2008-2-17 Page 8

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  • Britain nationalizes troubled mortgage lender

    USA Today - Darling told a news conference that the ailing mortgage lender would be placed under temporary public ownership because both ... Under the approach we are taking, the taxpayer will see its outstanding loans to Northern Rock repaid in full, with ...
    2008-02-17 10:14:00

  • Evolvence Plans $700 Million Mortgage-Backed Bonds (Update1)

    Bloomberg - A typical CMBS bond pools loans for offices, retail malls, apartments or hotels and sells them to investors as bonds. The U.A.E.'s mortgage market started in 2002 with Dubai laws that allowed foreigners to buy property in some areas, and ...
    2008-02-17 07:15:00

  • Northern Rock

    Financial Times - Had Northern Rock stayed in private hands, taxpayers would probably never have captured the full equity upside needed to offset the subsidy implicit in the cheap loans required to keep the mortgage lender afloat. There are risks to this inevitable ...
    2008-02-17 02:54:00

  • Commodities Mixed, Gold Demand Eases

    ABN Newswire - It is impacting metals and the likes of wheat, cooking oils and other soft commodities, as is hedge fund and other financial speculation as investment banks look for new sources of trading profits after their structured finance and mortgage loans ...
    2008-02-17 02:32:00

  • Henry Cisneros on the hot seat

    San Antonio Express News - Shareholders will want to know why directors did not properly prepare for the tightening of the credit markets in 2007, when it became difficult for Countrywide and other lenders to sell mortgage loans to investors. "The ...
    2008-02-17 12:45:00

  • Q&A: Northern Rock nationalisation

    BBC Business - ... the bank in loans and guarantees to other lenders to the tune of about £55bn. Other mortgage lenders were not so badly hit because they were less reliant on money markets, instead drawing heavily on saver's deposits to fund their mortgage loans.
    2008-02-17 12:02:00

  • What to look out for when switching loans

    News.com.au - With any kind of third party offering advice, such as mortgage brokers who are generally not regulated, they do enjoy certain advantages like trailing commissions on any advice or new loans you take out,'' says Christopher Zinn, a spokesman for ...
    2008-02-17 02:39:00

  • Day of reckoning for subprime-hit banks

    Reuters - For some, it will be the first audited reckoning of how badly they were burned by the market turmoil that began with defaulting U.S. subprime mortgage loans. Those reports should go a long way toward clarifying banks' financial positions as ...
    2008-02-17 01:21:00

  • Volatility abounds (Stuff)

    Mortgage rates remain volatile as lenders grapple with difficult conditions in financial markets.
    2008-02-17 03:22:56

  • IKB seeking approval for stock sale (El Paso Times)

    FRANKFURT, Germany—IKB Deutsche Industriebank AG, wracked by losses from the U.S. subprime mortgage crisis, will sell 1.5 billion euros ($2.2 billion) in shares as part of a government-sponsored bailout, provided its shareholders agree to the move.
    2008-02-17 03:24:01

  • Gordon Brown faces grilling on bank nationalisation (Reuters via Yahoo! UK & Ireland News)

    British Prime Minister Gordon Brown faces a grilling on Monday after the government said it would take ailing bank Northern Rock into public ownership, the first nationalisation since the 1970s.
    2008-02-17 03:30:00

  • Iowa Student Loans In Jeopardy Due To Credit Crisis (KCCI 8 Des Moines)

    DES MOINES, Iowa -- Iowa Student Loan says it won't be able to properly fund loans for the 2008-2009 school year because of the nation's credit crunch.
    2008-02-17 03:34:02

  • TEXT-S&P revises Australian Mortgage Securities outlook (Reuters Finance News, Australia via Yahoo!7 Finance)

    Feb 18 - Standard & Poor's Ratings Services today said that it has revised the servicer evaluation ranking outlook on Australian Mortgage Securities Pty Ltd. (AMS) to stable from negative. The ranking remains "STRONG" and AMS remains on Standard & Poor's global select servicer list.
    2008-02-17 03:37:16

  • Britain to Nationalize Troubled Mortgage Lender (NYTimes.com via Yahoo! Finance)

    The nationalization of Northern Rock is a huge blow for the government of Prime Minister Gordon Brown.
    2008-02-17 03:39:08

  • ANZ Bank Says Provisions Will Eliminate Profit Growth (Update1) (Bloomberg.com)

    Feb. 18 (Bloomberg) -- Australia & New Zealand Banking Group Ltd., Australia's third-biggest bank, said higher provisions caused by tighter credit markets will wipe out profit growth this year. The shares fell.
    2008-02-17 03:39:39

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