Mortgage and Financial News From 2007-10-5 Page 15

Previous Day: 2007-10-04

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• One in four priced out of the housing market

  Times Online - The group says that renting is cheaper than buying the same property with a mortgage. ... In London, the cost of a home for a first-time buyer is five times salary and in ... But the lender said: "Nonetheless, the gains in Greater London and the South East ...
  2007-10-05 09:15:00

• Tuesday, October 2

  News.com.au - Westpac lifeline for RAMS TROUBLED mortgage lender RAMS Home Loans Ltd has been thrown a lifeline by Westpac Banking Corporation Ltd, which will buy a $140 million stake in the business and provide it with $2 billion in funding.
  2007-10-05 07:07:00

• WaMu Woes Could Crack Countrywide

  Street.Com - Observers are saying that Countrywide, the nation's largest independent lender, is ... 975 million provision expense for loan losses from subprime mortgages and home ... believe that the impact on earnings from the disruption in the non-agency mortgage ...
  2007-10-05 10:34:00

• Wednesday, October 3

  News.com.au - RAMS customers dealt second blow OVER 45,000 RAMS Home Loans customers have been dealt a second mortgage rate rise in six weeks, after the struggling lender was yesterday handed a $140 million rescue package by the Westpac Bank.
  2007-10-05 07:07:00

• New Lease on Life for Lenders

  Street.Com - ... plans to acquire the mortgage-servicing business of now-bankrupt American Home Mortgage . Private equity behemoth Cerberus Capital is buying the servicing business of H&R Block's ( HRB - Cramer's Take - Stockpickr ) struggling subprime lender Option One ...
  2007-10-05 09:23:00

• Merrill joins lengthening list of warnings

  Washington Post - The warning came on the heels of an executive shakeup at the bank, which blundered by spending $1.3 billion to buy subprime mortgage lender First Franklin Financial last December just before the market for home loans to buyers with weak credit ...
  2007-10-05 10:20:00

• Wall Street Hopes The Worst Is Over

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E-mail Newsletters People ... Merrill is among the biggest in subprime lending thanks to its January purchase of mortgage lender First Franklin (nasdaq: ...
  2007-10-05 03:03:00

• The Seattle-based lender credited the drop-off largely to factors ...

  Marketwatch - The lender has about $110 billion in first-mortgage home loans and nearly $60 billion in second-mortgage home equity loans, according to Cannon. He estimates up to $19 billion of that amount is tied into subprime mortgages.
  2007-10-05 08:18:00

• Global Stocks, U.S. Futures Advance; BHP, PetroChina Gain

  Bloomberg - Alliance & Leicester Plc dropped 3.8 percent to 819.5 pence after Deutsche Bank AG analysts John Sheridan and Jason Napier cut their recommendation for the U.K. mortgage lender to ``sell'' from ``hold.'' Fortis, part of a group seeking to ...
  2007-10-05 04:51:00

• Credit Crunch Drags On Britain

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... The news was taken most sorely by mortgage lenders, including Alliance & Leicester ... Northern Rock's decision to call on the Bank of England as a lender of last resort ...
  2007-10-05 10:05:00

• It's All Silver Lining For WaMu

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... surprise to investors that Washington Mutual announced it would have heavy, mortgage ... provision for loan losses and write-downs of mortgages the Seattle-based lender ...
  2007-10-05 10:41:00

• American Home Cancels Auction

  CNBC - PHILADELPHIA - Bankrupt lender American Home Mortgage Investment Corp. has scrapped a scheduled Friday auction of its mortgage loan servicing business, and said it will seek court approval to sell the operation to billionaire investor Wilbur Ross ...
  2007-10-05 10:27:00

• Washington Mutual says profit to decline more than expected (Market Watch)

  SAN FRANCISCO (MarketWatch) -- With another key home lender sounding alarms about deteriorating conditions in mortgage markets, analysts say the role of Federal Reserve policymakers figures to take even more prominence in coming months.
  2007-10-05 05:54:56

• American Home Cancels Auction (AP via Yahoo! Finance)

  Bankrupt lender American Home Mortgage Investment Corp. has scrapped a scheduled Friday auction of its mortgage loan servicing business, and said it will seek court approval to sell the operation to billionaire investor Wilbur Ross.
  2007-10-05 10:23:10

• Re impact: FM calls for bankers-industry meet

  Economic Times - The relative slowdown in loan growth, the interest rate scenario and funding of projects may also figure in the talks, said ... He had even stated publicly that banks should not raise lending rates steeply. “In the past, the FM had maintained that ...
  2007-10-05 12:04:00

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