Mortgage and Financial News From 2007-9-18 Page 2

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• Bank run seen as unlikely in U.S.

  The Washington Times - Travel Civil War Obituaries Friday Home Guide Auto Weekend Employment Tourist Guide ... The troubles at British lender Northern Rock PLC show they can still happen, but it ... Several small mortgage lenders have declared bankruptcy because of the recent spike ...
  2007-09-18 09:24:00

• Home Loan Woes

  Fox 6 - SAN DIEGO (AP) -- San Diego-based subprime mortgage lender Accredited Home Lenders says it may be unable to resume making home loans in the U.S. after swinging to a $260 million loss in the first quarter of the year. The company said last month it ...
  2007-09-18 04:45:00

• Accredited Home posts big loss

  Reuters - NEW YORK (Reuters) - Accredited Home Lenders Holding Co (LEND.O: Quote , Profile , Research ), a struggling subprime mortgage lender, on Tuesday posted a $260.2 million quarterly loss and said it remained unsure that it would survive the fallout from ...
  2007-09-18 04:21:00

• Fed brightens bank picture, may help deal makers

  Reuters India - Mortgage lenders and home builders also got a boost. Shares of No. 1 U.S. mortgage lender Countrywide Financial Corp. rose 3 percent and luxury home builder Toll Brothers climbed 8.7 percent. But Toll Brothers Chief Executive Robert Toll said he does ...
  2007-09-18 06:04:00

• Toll Bros. CEO: Housing Plunge Not Over

  Forbes - Toll said a mortgage lender can make a larger loan by persuading the home buyer to take a seven-year adjustable-rate mortgage instead of a 30-year fixed-rate mortgage, contending that most people don't stay the full three decades at one house anyway ...
  2007-09-18 03:26:00

• Accredited swings to loss, says uncertain about funding operations

  CNBC - SAN DIEGO - Accredited Home Lenders Holding Co., a subprime mortgage lender, said Tuesday it was "uncertain" whether it could fund its operations after swinging to a first-quarter loss. The disclosure, in a delayed quarterly filing with the ...
  2007-09-18 12:06:00

• Accredited Reports Loss, Sees More Woes

  MSN MoneyCentral - NEW YORK (AP) - Subprime mortgage lender Accredited Home Lenders Holding Co. said Tuesday it swung to a loss in the quarter ending March 31 almost entirely due losses on the sale of mortgages in the secondary market. Accredited reported a loss of ...
  2007-09-18 12:06:00

• Countrywide CEO says "out" of subprime business

  Reuters - Last: NEW YORK, Sept 18 (Reuters) - Countrywide Financial Corp (CFC.N: Quote , Profile , Research ) Chief Executive Angelo Mozilo said on Tuesday the largest U.S. mortgage lender is "out" of the subprime business, apart from offering home loans ...
  2007-09-18 02:08:00

• Asian Stocks Rally in U.S. Trading After Fed Cuts Interest Rate

  Bloomberg - ... the federal funds rate by 50 percentage points to 4.75 percent and pledged to act as needed to prevent losses from mortgage ... Kookmin Bank, South Korea's largest lender by assets, climbed $3.85 to $82.16. ICICI Bank Ltd., India's biggest lender to ...
  2007-09-18 03:19:00

• U.K. Bank Bailout Brings Calm, But Ends Tough-Love Approach

  Wall Street Journal - Free Dow Jones Sites As of Wednesday, September 19, 2007 Set My Home Page ... together with the Bank of England, had taken the highly unusual step of guaranteeing all deposits at troubled mortgage lender ...
  2007-09-18 07:23:00

• China Construction Raises Record $7.7B In Shanghai IPO

  Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E-mail Newsletters People ... It is China’s biggest mortgage lender, with one-third of the domestic market. Zhu Xiaohuang, chief risk officer of China ...
  2007-09-18 05:49:00

• U.S. Home Foreclosures Soar in August

  Chicago Tribune - Lagging home sales and flat or decreasing home prices have also left homeowners unable to make their mortgage payments hard-pressed to find buyers. The latest figures also reflect an increase in the number of homes going into foreclosure that are ...
  2007-09-18 05:14:00

• Failed Lender Makes Grab for Employee Funds

  CNBC - Bankrupt American Home Mortgage is attempting to seize as much as $27 million that former employees set aside from paychecks for retirement, according to an attorney representing them. Employees say Melville, N.Y.-based American Home Mortgage ...
  2007-09-18 01:39:00

• Accredited Accepts Lone Star's $296 Million Offer, Halts Suit

  Bloomberg - Sept. 19 (Bloomberg) -- Accredited Home Lenders Holding Co., the subprime mortgage lender that slashed its workforce and closed more than half its operations, ended a two-month dispute with suitor Lone Star Funds by agreeing to a lower bid. The offer ...
  2007-09-18 09:31:00

• Fight on Deal Is Settled (New York Times)

  The subprime mortgage lender Accredited Home Lenders Holding and the private equity fund Lone Star said yesterday they had amended their merger agreement to settle a pending lawsuit between them.
  2007-09-18 07:26:20

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