Mortgage and Financial News From 2007-10-5 Page 10

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  • Sovereign Bancorp warns of Q3 writedowns, charges

    Reuters - Sovereign also said in a statement that it would take pretax charges of about $20 million related to losses on financings to mortgage lenders which have since filed for bankruptcy protection or defaulted on credit agreements. (Reporting by ...
    2007-10-05 12:43:00

  • Sovereign Bancorp, Inc. Expects Certain Charges to Impact Third ...

    Forbes - Many of these correspondent home equity loans are non-prime loans which have been impacted by the deterioration in the housing market and the reduction in the number of mortgage lenders in the industry. This has caused an ...
    2007-10-05 11:39:00

  • Washington Mutual sees profit down 75 percent

    Washington Post - NEW YORK (Reuters) - Washington Mutual Inc (WM.N), one of the largest U.S. mortgage lenders, said on Friday it expects a 75 percent drop in third-quarter net income because of adverse housing market and credit conditions. The bank, whose shares fell ...
    2007-10-05 07:57:00

  • Washington Mutual expects big drop in profit

    CNBC - NEW YORK (Reuters) - Washington Mutual Inc , one of the largest U.S. mortgage lenders, said on Friday it expects a 75 percent drop in quarterly income on losses and write-downs on mortgage loans and securities. Loan loss provisions for the ...
    2007-10-05 08:04:00

  • WaMu profit plunge doesn't faze investors

    Seattle Times - Although investors had been warned the third quarter would be rough for WaMu, one of the nation's largest mortgage lenders, today's announcement "gives us a little more clarity about exactly where things stand," said Bradshaw. After Citigroup made a ...
    2007-10-05 12:21:00

  • Sovereign Bancorp's 3Q results to be hit by market volatility

    MSN MoneyCentral - Sovereign also said it would take pretax charges of about $20 million related to losses on financings to mortgage lenders which have since filed for bankruptcy protection or defaulted on credit agreements. Sovereign Bancorp of Philadelphia is the ...
    2007-10-05 01:12:00

  • UPDATE 4-Washington Mutual sees 3rd-qtr profit down 75 pct

    Reuters - NEW YORK, Oct 5 (Reuters) - Washington Mutual Inc (WM.N: Quote , Profile , Research ), one of the largest U.S. mortgage lenders, said on Friday it expects a 75 percent drop in third-quarter earnings due to losses and write-downs on mortgage loans and ...
    2007-10-05 01:26:00

  • CORRECTED - Ross's bid wins American Home Mortgage unit

    Reuters - More than a dozen U.S. mortgage lenders have gone bankrupt this year, including several "subprime" lenders that provided loans to borrowers with poor credit. American Home catered to people with better credit. It collapsed after investors ...
    2007-10-05 11:24:00

  • FDIC to mortgage servicers: Freeze ARM rates

    CNN Money - NEW YORK (CNNMoney.com) -- The heat on U.S. mortgage lenders and servicers was turned up a few degrees this week when the country's chief bank regulator publicly proposed that they permanently freeze interest rates on subprime adjustable-rate ...
    2007-10-05 01:40:00

  • New Lease on Life for Lenders (TheStreet.com)

    The housing bust piques investors' interest in mortgage servicing.
    2007-10-05 08:33:42

  • FDIC to mortgage servicers: Freeze ARM rates (CNNMoney.com via Yahoo! Finance)

    The heat on U.S. mortgage lenders and servicers was turned up a few degrees this week when the country's chief bank regulator publicly proposed that they permanently freeze interest rates on subprime adjustable-rate mortgages for many homeowners.
    2007-10-05 01:55:00

  • FDIC to mortgage servicers: Freeze ARM rates (CNN Money)

    The heat on U.S. mortgage lenders and servicers was turned up a few degrees this week when the country's chief bank regulator publicly proposed that they permanently freeze interest rates on subprime adjustable-rate mortgages (ARMs).
    2007-10-05 01:10:12

  • U.S. Payrolls Rose 110,000 in September; Jobless Rate at 4.7%

    Bloomberg - The Fed on Sept. 18 cut its benchmark interest rate by a half-percentage point to 4.75 percent, and said they would ``act as needed'' to promote stable inflation and economic growth. Poole said that while he sees ``tentative signs'' that ...
    2007-10-05 05:33:00

  • Jim Cramer's Portfolios of the Week

    Street.Com - Once again, Cramer found plenty of opportunities for investors this week. Now that the market has had some time to absorb the Fed rate cuts, Cramer was out focusing on ways to invest in a lower interest rate environment. Here are some Cramer ...
    2007-10-05 08:40:00

  • Lex: Marrying interest rates and inflation

    Financial Times - Now that panic has subsided, however, is the new interest rate landscape aligned with the outlook for inflation? It is doubtful that a short, sharp, credit market event will have had much effect on inflation. Indeed, the outlook for prices is still ...
    2007-10-05 06:38:00

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