Mortgage and Financial News From 2007-9-18 Page 5

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  • CREDIT WRAPUP 4-UK pledge helps N.Rock, crisis hurts Lehman

    Reuters - ... savings, while Wall Street bank Lehman said the global credit crunch has hurt its profits. Lehman Brothers (LEH.N: Quote , Profile , Research ), one of the biggest mortgage bond ... Northern Rock looks very bad." But the UK authorities' pledge late ...
    2007-09-18 10:54:00

  • Fed's Nifty Fifty Fuels Stocks

    Street.Com - ... favor of a 50-basis-point cut, contending the ecomomy's health is threatened by tightening credit conditions and losses tied to the housing and mortgage ... became the latest financial company to warn of a hefty hit from mortgages gone bad, but Tuesday ...
    2007-09-18 02:36:00

  • Bernanke faces political heat on subprime

    MSN MoneyCentral - Mr Bernanke will testify to Congress on the mortgage crisis after the Fed on Tuesday said in a statement that there was increased "uncertainty", and acknowledged "the tightening of credit ... now had his "hands full considering August's bad ...
    2007-09-18 04:09:00

  • Signs suggest housing slump may drag on

    BusinessWeek - ... as much, easing the potential for severe payment shock and more defaults on subprime loans to borrowers with shaky credit. Mortgage ... The spike in foreclosure activity has prompted lenders, many struggling for cash and coping with bad loans on their ...
    2007-09-18 05:28:00

  • Lehman takes $700m hit from credit crunch, but shares edge up

    Guardian Unlimited - ... bank Lehman Brothers has revealed that the global credit crunch knocked $700m (£350m) off its revenue over the summer as mortgage ... shares edged upwards because the damage was not as bad as analysts had expected. "I think the worst of this credit ...
    2007-09-18 04:09:00

  • Credit crunch could burst the debt bubble (Socialist Worker)

    What triggered this crisis? Northern Rock, a Newcastle based mortgage lender, has been hit by the “credit crunch” affecting financial institutions since early August.
    2007-09-18 11:18:35

  • US sub-prime crisis may hit stock mkts: Economist

    Daily Pioneer - Portfolio inflows by FIIs could reverse rapidly in the event of a flight to safety, exerting pressure on share prices, said ... With regard to the impact on sub-prime crisis, it added, as borrowers default on their mortgages, the panic has spread ...
    2007-09-18 10:54:00

  • Byron Bay paradise lost to high house prices

    News.com.au - ... Council area are paying more than 30 per cent of gross income on rent, while 42.6 per cent are hit by the burden of mortgages. ... But it is the reverse in the top 20 mortgage stress areas, with only six local government areas outside of Sydney. HIA ...
    2007-09-18 07:27:00

  • Bernanke facing some tough scrutiny

    Boston Globe - During his long tenure at the Fed, Greenspan on more than one occasion was called upon to suddenly reverse course because of ... investment funds, raising worries about just how far-reaching the fallout would be from rising defaults on subprime mortgages ...
    2007-09-18 03:41:00

  • Joffrey Long: Loan Officers Gearing up for Reverse Mortgages

    Forbes - GRANADA HILLS, Calif., Sept. 18 /PRNewswire/ -- With the huge falloff in loan volume for most types of loan products, reverse mortgages are getting increased attention from the mortgage industry. According to Joffrey Long, President of Southwestern ...
    2007-09-18 09:43:00

  • Recession: Bitter pill or good medicine? (Atlanta Journal-Constitution)

    Lost in the furious debate over how hard the Federal Reserve should work to head off a downturn lurks a nagging and unpleasant thought: Maybe the economy needs a recession.
    2007-09-18 06:08:49

  • Bernanke Facing Some Tough Scrutiny (Washington Post)

    WASHINGTON -- Ben Bernanke, a respected Princeton professor before heading off to Washington, is finding that the nation's financial markets can be tough graders. But he is also demonstrating that he can be a quick learner.
    2007-09-18 02:57:03

  • Senior Living (KWQC-TV 6 Davenport)

    More older Americans wanting to take advantage of the rise in home prices over the past decade without having to move are considering a reverse mortgage to tap their equity.
    2007-09-18 08:35:44

  • Will the Fed Reverse the Housing Slump? (New York Times)

    There are good reasons to believe that the real estate slump has a long way to go, and that?s the main reason the Fed went further than most analysts expected in cutting interest rates. There are good reasons to believe that the real estate slump has a long way to go, and that?s the main reason the Fed went further than most analysts expected in cutting interest rates.
    2007-09-18 04:41:07

  • Joffrey Long: Fed Lowering Will Benefit Reverse Mortgage Borrowers- Here's How: (PR Newswire via Yahoo! Finance)

    Homeowners considering reverse mortgages just got a boost -- they'll get more money as a result of the Federal Reserve's lowering the benchmark lending rate.
    2007-09-18 05:37:00

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