Mortgage and Financial News From 2008-1-30 Page 19

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  • Canada Stocks Retreat, Led by Banks; CIBC and Potash Decline

    Bloomberg - UBS, Europe's largest bank, today posted a record loss after raising fourth-quarter writedowns on assets infected by U.S. subprime mortgages to $14 billion. Toronto-Dominion Bank fell 87 cents to C$67.25. Canada's second-biggest bank will ...
    2008-01-30 02:46:00

  • Edwards bows out as complex candidate of seeming contradictions ...

    International Herald Tribune - WASHINGTON : John Edwards bowed out of his second presidential bid saying he hoped the "two Americas" he speaks of so often ... to the Wall Street investment firm Fortress Investment Group, which has investments in lenders that offered subprime mortgages ...
    2008-01-30 04:34:00

  • New Zealand Dollar Gains to Two-Week High After Fed Cuts Rate

    Bloomberg - New Zealand's dollar slipped 0.6 percent in the second-half of last year and the S&P lost 3.4 percent as rising defaults in U.S. subprime, or high risk, mortgages spurred a reduction in the amount of credit available worldwide and crimped returns for ...
    2008-01-30 01:42:00

  • At a glance: Investment banks rising

    CNBC - The weakness in credit markets led investment banks to reduce the value of portfolios holding bonds and debt backed by mortgages by billions of dollars during the second half of 2007. The idea behind the rate cut is to give banks cheaper access to ...
    2008-01-30 11:33:00

  • Fitch Downgrades FGIC to 'AA'; Ratings Remain on Watch Negative

    Forbes - ... in FGIC's insured portfolio in particular: transactions backed by structured finance collateralized debt obligations backed by subprime residential mortgage-backed securities (RMBS) and direct exposure to RMBS, namely prime second-lien mortgages. The ...
    2008-01-30 12:45:00

  • Fed cuts U.S. rates for second time in 8 days

    International Herald Tribune - WASHINGTON : The Federal Reserve reduced its benchmark short-term U.S. interest rate Wednesday for the second time in eight ... course last August, when credit markets abruptly froze in panic as a result of soaring default rates on subprime mortgages ...
    2008-01-30 02:25:00

  • Fed cuts a key interest rate for the second time in 8 days

    San Diego Union-Tribune - WASHINGTON – The Federal Reserve on Wednesday cut a key interest rate for the second time in just over a week, reducing ... Policymakers are worried that the slump could intensify this year as millions of subprime mortgages rest at higher rates. To ...
    2008-01-30 03:29:00

  • Fed slashes US interest rates by half-a-point - The Herald

    Fed slashes US interest rates by half-a-pointThe Herald, UK - 2 hours agoIn August, rising defaults on US sub-prime mortgages - loans given to borrowers with poor credit records - led to a seizing up of credit markets world-wide. ...
    2008-01-30 04:01:26

  • Legg Mason’s net income plunges 11 percent - Daily Record (subscription)

    Legg Mason’s net income plunges 11 percentDaily Record (subscription), MD - 2 hours agoThe SIVs borrowed in the short term and invested in long-term assets that were sometimes associated with subprime mortgages, said Andrew Richards, ...
    2008-01-30 04:30:09

  • Profit Up, Lazard Defies Investment Banking Trend - New York Times

    Profit Up, Lazard Defies Investment Banking TrendNew York Times, United States - 1 hour agoIn a statement, the firm stressed that it did not invest or trade in subprime mortgages, shunning the risky investments that have led to billions of dollars ...
    2008-01-30 05:07:23

  • Another Fed Rate Cut is Great News for All - Associated Content

    Another Fed Rate Cut is Great News for AllAssociated Content, CO - 1 hour agoInterest rates on mortgages are down as well, so it'll be easier to refinance, and the market is better for those who are looking to cash in on already ...
    2008-01-30 05:11:38

  • Fed Cuts Rate Second Time in a Week - Associated Content

    Fed Cuts Rate Second Time in a WeekAssociated Content, CO - 1 hour agoRefinancing home mortgages and consolidating loans have suddenly become attractive. Buying a new home, a second home (for those who can afford one, ...
    2008-01-30 05:11:39

  • S&P review poses $100bn threat to banks - Times Online

    S&P review poses $100bn threat to banksTimes Online, UK - 1 hour agoS&P’s action came as the mortgage bond insurance industry continued to reel last night as Financial Guaranty Insurance became the second big securities ...
    2008-01-30 05:19:10

  • Australian Stocks Set for Worst Month for More Than 20 Years - Bloomberg

    Australian Stocks Set for Worst Month for More Than 20 YearsBloomberg - 1 hour agoAustralian stocks have fallen in January as rising defaults in US subprime mortgages diminished the amount of credit available worldwide and resulted in ...
    2008-01-30 05:23:03

  • Bond insurers' possible downgrade spurs market angst - KPLC-TV

    Bond insurers' possible downgrade spurs market angstKPLC-TV, LA - 1 hour agoAssuming only $107 billion of the credit default swaps are truly junk because they are based on subprime mortgages and low-grade CDOs, the lower figure is ...
    2008-01-30 05:58:51

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