Mortgage and Financial News From 2007-10-19 Page 01

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• Why the Bernanke Should Cut Rates

  Global Politician - Paulson is prodding major players in the private capital markets to create a safety net for bonds that fund home mortgages and refinance more adjustable rate mortgages (ARMS). The goal is to put a floor under housing prices and save the economy from ...
  2007-10-19 09:59:00

• Pedestrian Didn't Realize He'd Been Shot Until He Got Home (WFTV 9 Orlando)

  A man said he was just walking along an Apopka street when someone shot him, but the man didn't know what hit him until he got home and his leg went numb. VIDEO: Victim Said He Was Walking Home When He Was Shot In The Leg
  2007-10-19 07:52:02

• UPDATE 1-Paulson says banks credit rescue fund market-driven

  Reuters - The purpose of this...is not to buy bad assets or assets that have credit problems (but) for end-investors, working with the banks, to buy ... The investment pool is intended to acquire mortgage assets held by so-called Structured Investment Funds ...
  2007-10-18 05:57:00

• Lookahead: Stormy Weather

  Wall Street Journal - Credit worries will return to the fore again next week when Merrill Lynch reports ... Now investors are watching the corporate bond and mortgage-backed securities markets ... When sentiment shifts, good news is discounted, and bad news taken to heart." ...
  2007-10-19 05:06:00

• Paulson Defends SIV Fund, Says May Be Running by Year's End

  Bloomberg - ... in short-term markets to buy longer-dated assets, add to concern over the fallout from record U.S. mortgage ... Paulson said ``the concept is not to buy bad assets, or assets that have credit problems.'' Investors will buy ``assets that aren't credit ...
  2007-10-19 09:59:00

• Financial turbulence will be Topic A at G-7 meeting

  San Diego Union-Tribune - A global credit crisis took a turn for the worse in August, sending stocks around the world into a tailspin. Things have ... A meltdown in the U.S. mortgage market started with problems involving “subprime” mortgages made to people with spotty ...
  2007-10-16 05:59:00

• Shares tumble as fears of recession cap gloomy week

  The Independent - ... forecast results that showed its first drop in profits for six years due to rising bad debts among its mortgage customers. Investors worried that problems in the US housing market were starting to have spillover effects, and that the summer credit ...
  2007-10-19 04:58:00

• PMI, Mortgage Insurers Fall on S&P Ratings Action (Update1)

  Bloomberg - PMI, Mortgage Insurers Fall on S&P Ratings Action (Update1) By Josh P. Hamilton Oct ... insurers fell in New York trading after Standard & Poor's put the company's credit ... Stagnant home prices make it harder for banks to recover when loans go bad ...
  2007-10-19 02:07:00

• Wachovia Ends Bad Week for Bank Earns

  Forbes - Wachovia Ends Bad Week for Bank Earns By IEVA M. AUGSTUMS 10.19.07, 4:14 ... nation's leading banks revealed the damage this week caused by this summer's credit ... bank's October 2006 acquisition of Golden West, which expanded Wachovia's mortgage ...
  2007-10-19 02:50:00

• Stocks Fall Amid Profit, Credit Unease

  Newsday - ... Monday crash 20 year ago -- as investors were frightened by lackluster corporate earnings, credit concerns and rising oil prices. The market turned sharply lower Friday after Standard & Poor's again reduced its ratings on residential mortgage ...
  2007-10-19 12:55:00

• US stocks fall sharply amid lackluster profit reports, credit concerns

  CNBC - In a week dominated by mostly negative results from banks facing difficult credit markets and rising mortgage delinquencies, investors appeared surprised that an industrial name was feeling an economic pinch, too. Reports from Honeywell International ...
  2007-10-19 05:06:00

• Column: The credit crisis is far from over, just look at what the new facts show (International Herald Tribune)

  The facts speak for themselves: The credit crisis is getting even scarier.
  2007-10-19 09:35:28

• Credit and market turmoil top G7 agenda (AP via Yahoo! News)

  Finance officials from top economic powers met Friday to limit damage to the global economy from a jarring credit crisis as Wall Street took another scary plunge.
  2007-10-19 01:34:06

• Powers vow to limit credit crisis damage (AP via Yahoo! News)

  Finance officials from the world's top economic powers pledged Friday to do all they can to limit damage to the global economy from a jarring credit crisis as Wall Street took another plunge.
  2007-10-19 09:52:34

• Wachovia Net Drops 10% on Mortgage, Loan Writedowns (Update8) (Bloomberg.com)

  Oct. 19 (Bloomberg) -- Wachovia Corp. reported its first earnings decline in six years and missed analysts' estimates after a record $1.3 billion of writedowns for bad loans and mortgage-backed securities.
  2007-10-19 01:27:50

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