Mortgage and Financial News From 2007-10-19 Page 16

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  • Bernanke Says Assessing U.S. Economy Is `Formidable Challenge'

    Bloomberg - Bernanke didn't comment on the current outlook for the economy or interest rates. Fed policy makers next meet in Washington Oct. 30-31. Poole and Stanford University economist John Taylor are also speaking as part of the panel ...
    2007-10-19 08:59:00

  • Bank of Korea governor sees no current need for rate cut - report (Sharewatch)

    SEOUL (Thomson Financial) - Bank of Korea (BoK) governor Lee Seong-Tae said he does not see a need to cut the benchmark call rate target for now and debtors appear to be able to handle their current interest burden, local news provider MoneyToday reported on Friday.
    2007-10-18 08:16:12

  • Bernanke explains decision-making (AP via Yahoo! News)

    Federal Reserve policymakers weigh a broad range of economic scenarios to determine the right moves on interest rates during times of uncertainty, Fed Chairman Ben Bernanke said Friday.
    2007-10-19 09:01:59

  • Bernanke explains interest-rate-setting policy (Post-Bulletin)

    WASHINGTON -- Federal Reserve policymakers weigh a broad range of economic scenarios to determine the right moves on interest rates during times of uncertainty, Fed Chairman Ben Bernanke said today. "Uncertainty --
    2007-10-19 09:14:56

  • WaMu's 3Q Profit Shrinks 72 Percent

    Forbes - Washington Mutual Inc. 's third-quarter profit shrank 72 percent as sagging home prices made it harder for borrowers to pay their bills and hurt the value of the bank's portfolio of mortgage loans. The third-biggest home lender on Wednesday reported ...
    2007-10-17 04:46:00

  • U.K. Economy Grows Faster Than Forecast on Services (Update4)

    Bloomberg - The collapse of the U.S. subprime mortgage market led to a jump in credit costs and a panic among savers at Northern Rock, the Newcastle-Upon-Tyne, England-based home-loan lender. A survey of U.K. banks shows they are now poised to reduce ...
    2007-10-19 08:16:00

  • Lenders balk at Patrick foreclosure program

    Boston Globe - So far, just two lenders - Option One Mortgage Corp., a subprime lender, and the Massachusetts Credit Union League - have said they will ... Home buyer counseling and negotiation with lenders on behalf of homeowners are also central to the plan. The ...
    2007-10-19 07:11:00

  • Irwin Financial Expects to Post 3Q Loss

    CNBC - COLUMBUS, Ind. - Irwin Financial Corp., a lender focused on small business and consumer mortgage loans, said Friday it expects to report a third ... Irwin Financial to take bigger losses as it winds down certain operations and restructures its home ...
    2007-10-19 07:11:00

  • Chairman Steps Down at Northern Rock

    Associated Press - LONDON (AP) -- Northern Rock PLC said Friday it was replacing its chairman, after two months of troubles during which the mortgage lender took emergency funding from the Bank of England and saw the first run on a British bank in nearly a century ...
    2007-10-19 07:19:00

  • North-South house price gap widens

    Croydon Guardian - The average cost of a home in the South was £265,921 at the end of September, 68% more than the price of the average home in the North at £158,636, according to Britain's biggest mortgage lender Halifax. The group said the gap was continuing to ...
    2007-10-19 01:49:00

  • Wachovia Net Drops 10% on Mortgage, Loan Writedowns (Update5)

    Bloomberg - Home foreclosures have forced banks to write down the value of mortgages and home equity loans. Citigroup, Bank of ... The 56-year-old CEO has overseen about $30 billion of acquisitions in the past two years, including mortgage lender Golden West ...
    2007-10-19 08:16:00

  • Northern Rock says chairman will resign

    Globe and Mail - Home   National British Columbia Prairies Ontario Quebec Atlantic Politics Education World Americas Europe Asia-Pacific Africa ... Struggling British mortgage lender says Matt Ridley will be replaced by former Standard Chartered PLC Chairman Bryan Sanderson ... ...
    2007-10-19 04:55:00

  • Mortgage pressure takes wind out of B&B

    Times Online - ... emerged that Northern Rock had tapped the Bank of England's for a further £3 billion, adding to £13 billion lifeline the crisis-hit lender has already borrowed. Earlier this week, the Council of Mortgage Lenders revealed that the rate of new home ...
    2007-10-19 08:09:00

  • SIV Concerns Trigger Worst Week for Credit in Three Months

    Bloomberg - The Charlotte, North Carolina-based lender reported $1.3 billion in writedowns for mortgage-backed securities and loans for leveraged buyouts. Super SIV `Flop' Bank of America, the second-largest U.S. bank, said yesterday that ...
    2007-10-19 08:23:00

  • Home loan woes undercut sales (The Sacramento Bee)

    Lena Abello, her brother and two friends stood poised to buy their first home together last month – a $303,000 single-family house in Natomas. But the shake-up in the nation's mortgage industry abruptly shuttered their dream.
    2007-10-19 12:01:57

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