Mortgage and Financial News From 2007-11-20 Page 6

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• SKorean shares outlook - Higher on Wall Street gains

  CNBC - The Federal Reserve said the housing collapse and credit crisis will slow economic ... More bad news from the US financial sector may cap any gains. Freddie Mac posted ... dollar quarterly loss, escalating jitters about the government-sponsored mortgage ...
  2007-11-20 03:49:00

• David Bronner says RSA safe from bad mortgage, credit investments

  Birmingham News - Alabama's public pension system hasn't suffered any losses from subprime mortgage investments, and probably won't, according to Chief Executive David Bronner. "We have dodged a bullet, because anyone who owns this stuff has problems," Retirement ...
  2007-11-20 01:23:00

• Merrill Lynch Ousts Asian Fixed-Income Co-Head Roy (Update2)

  Bloomberg - ... its Asian fixed- income business amid a management shakeup following $8.4 billion of losses on subprime mortgage-related securities and bad ... Roy joined Merrill Lynch in 1999 from Barclay's Capital as head of credit trading in Asia. In 2006, he was ...
  2007-11-20 03:28:00

• Freddie Mac seeks emergency funding after posting $2bn loss

  The Independent - ... the financial markets at the start of the year and led to the seizing-up of parts of the credit ... In the financial quarter just ended, Freddie Mac wrote down the resale value of its mortgage assets by $2.7bn and set aside $1.2bn to cover bad loans.
  2007-11-20 03:20:00

• Fed rate cut was "close call"

  MSN UK News - ... Fed officials remained worried in October that financial markets were still showing stress from concerns about bad credit. ... in recent days amid a steady drumbeat of worrisome reports on write-downs at major financial institutions tied to bad mortgage ...
  2007-11-20 05:15:00

• Sub-prime claims may run to $6bn

  Daily Telegraph - ... 6bn (£3bn) bill for claims against directors relating to the sub-prime mortgage ... He said the benign D&O market was about to turn as the credit crunch is "the first ... accountants, fund managers and hedge funds face legal suits for giving bad ...
  2007-11-20 04:46:00

• US indices hit reverse on Freddie Mac gloom

  MSN MoneyCentral - Wall Street endured another volatile session on Tuesday after a large loss at Freddie Mac, the mortgage agency, reinforced worries about credit ... Freddie's third-quarter net loss widened sharply to $2.03bn as it set aside $1.2bn to account for bad ...
  2007-11-20 03:35:00

• Credit Still Crunching

  Forbes - Concerns over mounting losses and possible liquidity concerns at mortgage lender Countrywide ... To compound the bad news, Moody’s maintained its rating on Countrywide’s credit, but changed its outlook to “negative” meaning it is considering a ...
  2007-11-20 12:57:00

• Wall Street bounces back on profits, outlooks

  Reuters - The rate-cut speculation helped offset the impact of a stunning quarterly loss at mortgage finance company Freddie Mac (FRE.N: ... People are probably looking at the Freddie situation, thinking it's as bad as it gets." The Dow Jones industrial average ...
  2007-11-20 10:13:00

• Survival fears dog US mortgage lenders

  Guardian Unlimited - America's sub-prime mortgage crisis caused nervous lurches on Wall Street yesterday ... As economists continued to debate whether the credit crunch will lead to a ... He said Freddie Mac's position was "as bad as it could possibly be". Freddie Mac ...
  2007-11-20 04:25:00

• World markets cast aside jitters

  BBC Business - Analysts said US investors remained fearful that ever more global banks would reveal their exposure to bad American mortgage debt and the resulting credit crisis. "The concern is that if there are unknown losses still to be recorded, the risk ...
  2007-11-20 01:33:00

• Forex - US dollar weaker after more bad news about housing, lending ...

  CNBC - ... in Sydney on Wednesday, extending overnight losses as investors digest more bad ... The greenback was friendless after mortgage lender Freddie Mac reported a record ... defaults and an analyst downgraded Countrywide Financial Corp, fuelling credit ...
  2007-11-20 03:56:00

• Minutes: Fed hotly debated interest rate

  Seattle Post Intelligencer - Those trends raised investors' concerns about the effect of a sluggish economy on corporate profits - which have been weak in the financial sector, because of the bad bets they made on mortgages and mortgage-backed assets. Overall, it was a rocky day ...
  2007-11-20 11:39:00

• Stocks close up despite grim Fed minutes

  MSNBC - ... YORK - Wall Street finished an extremely volatile session mostly higher Tuesday after investors, still jittery about mortgage ... had a $2 billion quarterly loss, and an analyst’s downgrade of Countrywide Financial Corp., pointed to continuing credit ...
  2007-11-20 01:19:00

• Mortgage giant Freddie Mac scrambles for cash after $2 billion loss

  Seattle Times - Freddie Mac set aside $1.2 billion in the turbulent July-September period to account for bad home loans, which it said reflected "the significant deterioration of mortgage credit." Freddie Mac, like Fannie Mae, has traditionally funded the mortgage ...
  2007-11-20 01:19:00

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