Mortgage and Financial News From 2007-11-20 Page 8

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  • US stocks moderately higher ahead of Fed minutes; DJ up 37.97 midday

    MSN UK News - The second largest U.S. guarantor of home mortgages _ hit hard by the sinking housing market like its larger counterpart, Fannie Mae _ also said it is considering a dividend cut. Its shares plunged $9, or 24 percent, to $28.50. In midday trading, the ...
    2007-11-20 09:37:00

  • Pressure builds on banks as buy-to-let lender says it may collapse in ...

    Guardian Unlimited - Paragon is the second lender after Northern Rock to reveal that a lending freeze could jeopardise the refinancing of its mortgages and threaten its survival. Shares in Paragon dived by 79.2p, or 39%, to 125p, knocking £140m off its value. Brokers ...
    2007-11-20 03:13:00

  • Freddie Mac woes spark alarm for US housing

    Daily Telegraph - Fears that the crisis in the US sub-prime mortgage market is spreading intensified after America's second largest mortgage finance firm reported a $2bn (£970m) loss in the third-quarter. Freddie Mac, which specialises in financing mortgages to those ...
    2007-11-20 10:56:00

  • AP Business NewsBrief at 9:16 a.m. EST

    CNBC - WASHINGTON (AP) _ Freddie Mac set aside $1.2 billion in the third quarter to account for bad home loans and posted a $2 billion loss Tuesday, prompting the nation's second largest guarantor of home mortgages to seek additional sources of capital ...
    2007-11-20 06:24:00

  • Freddie May Need New Capital

    Street.Com - McLean, Va.-based Freddie said it would need to set aside $1.2 billion in the third quarter to account for bad home loans, prompting the nation's second-largest guarantor of home mortgages to seek additional sources of capital. The quarterly loss ...
    2007-11-20 02:16:00

  • Wall Street's Housing Woes Persist

    Forbes - The nation's second largest guarantor of home mortgages - hit hard by the sinking housing market like its larger counterpart, Fannie Mae - also said it is considering a dividend cut. Freddie shares plunged $11.17, or 30 percent, to $26.37, and Fannie ...
    2007-11-20 12:21:00

  • Freddie Mac loses $2B, sets aside $1.2B for bad loans

    USA Today - WASHINGTON (AP) — Freddie Mac, the nation's second-largest buyer of home mortgages, said it set aside $1.2 billion in the third quarter to account for bad home loans as the company posted a $2 billion loss Tuesday. Losses widened from $715 million ...
    2007-11-20 05:48:00

  • Stocks moderately higher ahead of Fed minutes

    Kansas City Star - The nation’s second largest guarantor of home mortgages — hit hard by the sinking housing market like its larger counterpart, Fannie Mae — also said it is considering a dividend cut. Its shares plunged $9, or 24 percent, to $28.50. “It’s one ...
    2007-11-20 12:36:00

  • Fitch Affirms 30 & Downgrades 5 Classes from 5 Morgan Stanley ...

    Forbes - The mortgage loans consist of fixed- and adjustable-rate, 15- and 30-year mortgages extended to subprime borrowers and are secured by first and second liens, primarily on one- to four-family residential properties. As of the October 2007 distribution ...
    2007-11-20 02:52:00

  • U.S. Economy: Building Permits Slump to 14-Year Low (Update5)

    Bloomberg - Freddie Mac, the second-biggest buyer of U.S. mortgages, today posted a record loss and warned it may need additional capital and may cut its dividend. A slump in the value of mortgages reduced core capital, prompting a possible need for more money ...
    2007-11-20 01:55:00

  • Tokyo shares outlook - Higher on Wall Street's rise, Fed's economic ...

    Forbes - Freddie Mac, the second largest guarantor of home mortgages, yesterday announced 2 billion US dollar quarterly loss, hit hard by the sinking housing market. Meanwhile, Countrywide Financial Corp fell after an analyst downgraded the stock citing a ...
    2007-11-20 02:16:00

  • Gold, Silver Climb as Dollar Tumbles to Record Against Euro

    Bloomberg - Freddie Mac, the second-biggest buyer of U.S. mortgages, posted its largest quarterly loss and said it may cut its dividend to weather ``significant deterioration'' in the housing market. U.S. building permits in October fell to the lowest level ...
    2007-11-20 03:28:00

  • UPDATE 6-Builder D.R. Horton posts loss after charges

    Reuters - The company's shares initially rose more than 6 percent, then fell about the same after Freddie Mac (FRE.N: Quote , Profile , Research ), the second- largest buyer of U.S. mortgages, said it may have to raise new capital to get through the ongoing U ...
    2007-11-20 01:55:00

  • Builder D.R. Horton posts loss after charges

    CNBC - On Tuesday morning, Freddie Mac , the second-largest buyer of U.S. mortgages, said it may have to raise new capital to get through the ongoing U.S. credit crisis. "Freddie's basically saying they need to raise capital so the question now is ...
    2007-11-20 11:31:00

  • H&R Block's Mark Ernst Quits, Breeden Named Chairman (Update4) (Bloomberg.com)

    Nov. 20 (Bloomberg) -- H&R Block Inc., the biggest U.S. tax preparer, replaced Chairman and Chief Executive Officer Mark Ernst after $1 billion of losses tied to subprime mortgages.
    2007-11-20 02:13:05

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