Mortgage and Financial News From 2007-11-20 Page 9

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  • Subprime crisis seen spilling over into 2009 (International Herald Tribune)

    Most of the subprime mortgages, which provide collateral for $800 billion in securities, have yet to go bad.
    2007-11-20 03:59:56

  • Builders Feel Pinch (Daily Record)

    HOUSEBUILDERS Barratt Developments said yesterday quarterly sales were down in a "more challenging" market. The group, Britain's second biggest builders, said they had felt the effect of five interest rate rises in 15 months and the summer's credit squeeze on mortgages.
    2007-11-19 09:46:14

  • Freddie Mac shares dive after posting loss (Reuters via Yahoo! News)

    Freddie Mac , the second-largest U.S. mortgage finance company, on Tuesday posted a wider third-quarter loss and said it may slash its dividend and raise new capital as it works through what it called an "extremely difficult year" for housing and credit markets.
    2007-11-20 07:49:13

  • Freddie Mac sets aside $1.2 billion in 3Q for bad home loans (WDBJ 7 Roanoke)

    WASHINGTON (AP) - Freddie Mac has posted a $2 billion loss after setting aside $1.2 billion in the third quarter to account for bad home loans. The results have prompted the nation's second largest guarantor of home mortgages to seek additional sources of capital.
    2007-11-20 08:55:00

  • Freddie Has 3rd-Quarter Loss, Seeks to Raise Capital (Update2) (Bloomberg.com)

    Nov. 20 (Bloomberg) -- Freddie Mac, the second-biggest buyer of U.S. mortgages, posted its largest-ever quarterly loss and said it may cut its dividend and raise capital to weather ``significant deterioration'' in the housing market. The shares fell.
    2007-11-20 05:57:51

  • $2 billion Freddie Mac loss (AP via Yahoo! News)

    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 06:01:53

  • Freddie Mac loses $2B, stock plunges (USA Today)

    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.
    2007-11-20 09:05:16

  • Freddie, Fannie seek a few billion

    CNN Money - Fortune) -- Freddie Mac and Fannie Mae can only make it through a prolonged ... That, in a nutshell, is what the plunging stock prices of both mortgage buyers are ... instruments that both companies use to insure against adverse movements in interest ...
    2007-11-20 02:30:00

  • Fitch Upgrades 2 Classes of LB-UBS Series 2002-C4

    Forbes - Fitch Ratings upgrades two classes of LB-UBS Commercial Mortgage Trust commercial mortgage pass-through certificates ... Interest-only class X-CL at 'AAA'; --Interest-only class X-CP at 'AAA'; --Interest-only class X-VF at 'AAA'; --$20 million ...
    2007-11-20 09:44:00

  • WRAPUP 1-Fed minutes show October rate cut was "close call"

    Reuters - ... costs were needed to cushion the U.S. economy from a housing slump and credit woes but decided to cut interest ... In the past, Fed officials provided less-detailed forecasts and only twice a year. MORTGAGE STRESS, OIL PRICES Continued... ...
    2007-11-20 02:30:00

  • Northern Rock shares plunge below £1

    Times Online - ... private equity fund, walked away from making a rescue bid for the troubled mortgage ... Only nine months ago, Northern Rock was valued at £5.2 billion when its shares ... Its interest is also thought to have been affected by credit-related losses at GMAC ...
    2007-11-20 12:07:00

  • Stocks fall as Fed sees slow growth

    CNN Money - ... about major financial stocks continued to plague the market and the mortgage-lending ... Stocks tumbled Monday, with the Dow falling below 13,000 for only the second ... aided by the HP news and speculation that the Federal Reserve would cut interest ...
    2007-11-20 11:46:00

  • How To Cut Your Mortgage By £127,447

    Sky.com - As long as you keep that £5,000 in your savings account, you will only pay interest on £145,000 of your mortgage debt, instead of the full £150,000. Not only are you effectively earning interest, after tax, at the interest rate of your mortgage ...
    2007-11-18 03:59:00

  • Freddie Mac’s $4.8bn loss deals fresh blow to US housing market

    Times Online - ... significantly after Freddie Mac, America’s second-biggest provider of mortgage ... assets took the group to a $2.02 billion loss and left its core capital only ... packaging the mortgages that they buy into bonds and guaranteeing their interest and ...
    2007-11-20 02:16:00

  • Fed minutes show October rate cut was "close call"

    CNBC - ... costs were needed to cushion the U.S. economy from a housing slump and credit woes but decided to cut interest ... In the past, Fed officials provided less-detailed forecasts and only twice a year. MORTGAGE STRESS, OIL PRICES Policy-makers lowered ...
    2007-11-20 02:52:00

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