Mortgage and Financial News From 2007-10-6 Page 16
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Merrill admits losses of $5.5bn on bad loans (Guardian Unlimited)
· Bank admits it handled credit crisis badly · Significant job cuts 'not contemplated'
2007-10-06 03:34:25 -
Bad debt bites Merrill (Pioneer Press)
NEW YORK - Investment bank Merrill Lynch & Co. said Friday credit and mortgage woes will lead it to post a third-quarter loss, as it takes almost $5 billion in writedowns in the wake of a credit crunch that paralyzed Wall Street this summer.
2007-10-05 10:10:12 -
M&A, Stock Sales Climb as Global Credit Markets Calm (Update2) (Bloomberg.com)
Oct. 5 (Bloomberg) -- The deals are back. Less than a month after the subprime mortgage collapse brought credit markets to a standstill, initial public offerings and mergers and acquisitions are picking up from the first half's record-setting pace.
2007-10-05 01:04:56 -
More predators in lending market, say legal aid bodies
Age - ... filings in NSW and Victoria over the past 12 months indicate an increase in the number of people defaulting on their mortgages ... aid bodies Richard Baker and Ben Schneiders National http://www.theage.com.au/news/national/retirees-vulnerable-to-reverse ...
2007-10-05 02:23:00 -
Home buyers struggling with household debt
Age - ... outer suburbs, where financial counsellors are reporting a surge in the number of home buyers struggling to pay mortgages. Some ... 470 302 Joseph Feil http://www.theage.com.au/news/national/retirees-vulnerable-to-reverse-mortgage-push/2007/10/05 ...
2007-10-05 02:23:00 -
THE FED: Half-Point Interest-Rate Cut May Be Enough, Fed's Kohn Says
FXStreet.com - With recent favorable inflation news, Kohn said he believes the Fed could reverse the recent rate cut if it turned out to be ... As a result, the housing market's likely to remain depressed, both because of the difficulty in obtaining mortgages and ...
2007-10-05 08:47:00 -
Half-point rate cut may be enough: Fed's Kohn
Marketwatch - With recent favorable inflation news, Kohn said he believes the Fed could reverse the recent rate cut if it turned out to be ... As a result, the housing market's likely to remain depressed, both because of the difficulty in obtaining mortgages and ...
2007-10-05 02:59:00 -
Inland Community News briefs: Escondido playing cards offered
North County Times - Professionals will offer information on Medi-Cal and veterans' benefits, reverse mortgages, moving/packing, senior living options and hospice services. Lunch will be provided. R.S.V.P. by Oct. 12 at (858) 487-9324, Ext. 0. Services offered for seniors ...
2007-10-03 05:53:00 -
Bond investors watching central banks and inflation (International Herald Tribune)
Government bonds have become expensive, but specialists say other kinds of securities as well as bond index funds are available for bargain hunters.
2007-10-05 01:08:49 -
No cookie-cutter world of "no-cost" mortgages (Seattle Times)
In a recent article, I examined Bank of America's new no-fee program for house purchasers, under which lender and third-party fees are absorbed...
2007-10-06 12:29:43 -
Merrill sees losses ahead from credit crunch
Globe and Mail - Expects a loss of up to 50 cents a share on negative mark-to-market adjustments to positions in CDOs and subprime mortgages ... The second type of conversation is fully moderated. In a fully moderated conversation, every comment is reviewed by a ...
2007-10-05 05:22:00 -
Daily Briefing: Singer claims Memphian tricked him
Memphis Commercial Appeal - The decline in third-quarter income will mostly come from rising provisions for loan losses and write-downs of mortgages Washington Mutual currently holds. INTERNATIONAL EasyJet likely to beat expectations Europe's second-largest budget carrier, easyJet ...
2007-10-05 09:47:00 -
Mortgage cure: Just wish upon a czar
Detroit News - There are more than 2 million adjustable-rate mortgages scheduled to reset by the end of this year, many of them made to ... Second, it doesn't bail out the hedge-fund hustlers, rapacious mortgage brokers and other low types from high finance who ...
2007-10-05 10:44:00 -
AP Business NewsBrief at 2:25 a.m. EDT
CNBC - ... the value of complex instruments known as collateralized debt obligations or CDOs, and from declines in subprime mortgages ... J. (AP) _ Topps Meat Co. on Friday said it was closing its business, six days after it was forced to issue the second ...
2007-10-05 11:27:00 -
Legislation would benefit some homeowners but take from others
Seattle Times - ... changes, the committee approved new restrictions on capital-gains tax benefits available to people who buy a second home ... The Ways and Means Committee bill (H.R. 3648) would exclude home mortgages from the current tax code's "discharge of ...
2007-10-06 12:10:00