Mortgage and Financial News From 2007-10-25 Page 6

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  • UK Consumer Credit Dips (CRM Today)

    A new report* by independent market analyst Datamonitor expects the UK consumer credit** market to dip in 2007 before seeing a slow revival thereafter, from GBP207.4 billion in gross advances in 2006 to GBP229.8 billion in 2011. Indeed, Q2 2007 has seen a continuation of the UK consumer credit market's poor performance which began in 2005. Moreover, recent events in the US sub-prime mortgage ...
    2007-10-25 01:05:09

  • Credit flu worsens for BofA, Merrill (Los Angeles Times)

    The bank will lay off 3,000 workers and the brokerage takes a $7.9-billion write-down. Wall Street's pain from the housing slump and credit crunch intensified Wednesday as Bank of America Corp. announced layoffs and Merrill Lynch & Co. recorded $3.4 billion more in mortgage-related losses than it had forecast less than three weeks ago.
    2007-10-25 12:24:19

  • Rude awakenings in American Dream

    The Australian - ... son of a Bronx butcher who learned the real estate game young and founded a company that now writes more home mortgages in the ... At other times a company might play at reverse accounting by being more aggressive than it needs to be in one quarter, so ...
    2007-10-25 08:44:00

  • Wednesday's Biggest Stock Stars

    Motley Fool - By reverse-engineering some of the arguments made for these picks, we increase our odds of finding the next big winner. Did ... In fact, CFC dropped 8% yesterday on even more concerns that the delinquency rate on its option adjustable-rate mortgages ...
    2007-10-25 09:27:00

  • The Dark Matter of Financial Globalization

    Turkish Weekly - ... markets – and the liquidity and credit crunch that followed – raises two questions: how did defaulting sub-prime mortgages ... It will be hard to reverse financial liberalization, but its negative side effects – including greater systemic risk ...
    2007-10-25 03:37:00

  • Reverse Mortgages - Florida

    Colleyville Courier - Fixed Rate-Loans for 2nd Homes-Direct Lender since 1987-calculator. Increase loan production by regularly touching past borrowers, new clients, Realtors and financial professionals with newsletters that help increase repeat and referral business. Use ...
    2007-10-25 02:04:00

  • U.K. Pound Drops Against Yen as Investors Reverse Carry Trades

    Bloomberg - Oct. 25 (Bloomberg) -- The pound fell against the yen as Asian stocks declined on speculation losses linked to subprime mortgages will slow global growth, prompting investors to reverse so-called carry trades funded by loans made in Japan. The pound ...
    2007-10-25 12:16:00

  • Reverse mortgage isn't best option for seniors needing cash

    Southern Illinoisan - Question: My mother is living in the family home which is paid for but she is living on Social Security income, which is hardly enough to meet her basic expenses. I saw James Garner pitching reverse mortgages on TV the other night and am wondering if ...
    2007-10-25 10:03:00

  • WSFS Reports 3Q '07 EPS of $1.11 (PR Newswire via Yahoo! Finance)

    WSFS Financial Corporation , the parent company of Wilmington Savings Fund Society, FSB, reported quarterly net income of $7.1 million, or $1.11 per diluted share, compared to $8.0 million or $1.16 in the third quarter of 2006.
    2007-10-25 02:05:00

  • Wednesday's Biggest Stock Stars (The Motley Fool)

    Yesterday's market is today's moneymaking road map.
    2007-10-25 09:52:16

  • Color of Money Book Club (Washington Post)

    Personal finance columnist Michelle Singletary hosts an online discussion with David Reed, author of "Mortgage Confidential: What You Need to Know That Your Lender Won't Tell You" (American Management Association, $16.95) on Thursday, Oct. 25 at Noon ET.
    2007-10-25 01:36:49

  • Reports Suggest Broader Losses From Mortgages

    Herald Tribune - ... Wall Street executives think they have acknowledged the full extent of the losses from the meltdown in real estate mortgages ... Many of the brokers and loan officers he knows are still working in the industry, even though they have taken on second ...
    2007-10-25 03:54:00

  • Corporate report

    Herald Tribune - Centex Corp. -- Despite cutting prices on many of its homes and offering more traditional mortgages, the home builder swung to a second-quarter loss of $643.8 million, or $5.26 per share, compared with a profit of $137.4 million, or $1.11 per share ...
    2007-10-25 03:54:00

  • U.S. New-Home Sales Rose in September After Revisions (Update2)

    Bloomberg - Foreclosures doubled in September from a year earlier as subprime borrowers struggled to make payments on adjustable-rate mortgages, RealtyTrac Inc. said Oct. 11. D.R. Horton Inc., the second-largest U.S. homebuilder, said Oct. 16 that ...
    2007-10-25 07:33:00

  • Bank of America to slash 3,000 jobs

    Daily Telegraph - The announcement, from the second largest US bank, came less than a week after it reported a 32pc drop in profits caused by ... counterparts to the sub-prime crisis, where financial groups lent to Americans who were unable to repay their mortgages.
    2007-10-25 04:08:00

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