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

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  • Police Confirm Gun Stolen From DA's Home (WCVB Boston)

    Police said the home of Cape and Islands District Attorney Michael O'Keefe was among those hit during a wave of burglaries in a Sandwich neighborhood over the past year.
    2007-10-19 04:31:52

  • Bank of America earnings drop 32%

    Boston Globe - ... largest retail bank, reported yesterday that third-quarter earnings plummeted 32 percent because of problems in mortgage and credit ... The costs of provisions for bad loans rose $865 million, which the bank partly blamed on a weaker US housing market ...
    2007-10-18 10:57:00

  • Market Insider/Friday Look Ahead

    CNBC - ... the afterglow of Google's solid profit report will compete with worries about credit ... Bank of Japan Governor Toshihiko Fukui said problems from the U.S. subprime mortgage ... this summer, as investors were unwilling to buy debt that might be backed by bad ...
    2007-10-18 11:48:00

  • Deal Offers A Ray of Hope In Credit Crisis

    Wall Street Journal - Bad news in credit markets this week might have brought tears to the eyes of some investors. Poor bank earnings and more ratings downgrades of mortgage debt stood out. But one deal served as a small counterpoint to the gloom: The $3.67 billion ...
    2007-10-18 05:21:00

  • Gloom-mongers have their day

    Guardian Unlimited - ... isn't exactly teeming with eager shoppers and, after a summer of sub-prime mortgage ... Each day seems to bring a fresh piece of bad news from the financial industry ... have recovered from its August spiral - but the broader consequences of the credit ...
    2007-10-19 01:35:00

  • Treasurys vault higher as weak data prompts talk of new rate ...

    CNBC - The latest bad signal for the economy was the Labor Department's Thursday report that initial jobless benefits claims in ... signs included a dramatic plunge in building starts and a Standard & Poor's downgrade of more than 1,700 classes of mortgage ...
    2007-10-18 10:40:00

  • Banking stocks weigh on Asian markets

    Financial Times - Asian stocks fell on Friday with bank shares feeling the heat after mounting credit losses hit ... Although concerns about the impact from the U.S. subprime mortgage problems have been factored in to some extent, the bad US bank results are renewing ...
    2007-10-19 06:07:00

  • Stocks flat on credit-crisis unease

    Philadelphia Inquirer - Banks and brokerages were hurt during the third quarter in the fallout from the subprime-mortgage crisis. As people with weak credit defaulted on ... The market came back somewhat because there's that whole camp that thinks any bad news is good news that ...
    2007-10-18 11:55:00

  • STATE OF SHOCK

    New York Post - Analysts were alarmed that the bank's troubles had spread from the mortgage mess and credit bottlenecks into its other key businesses. "We knew the credit situation was going to be bad, but this was worse than expected," said Michael Mullaney of ...
    2007-10-19 02:11:00

  • US stocks mixed on credit worries, Google

    News.com.au - WALL St headed for a mixed opening today, with the credit squeeze dragging on banks ... 1. Two dead in Aussie band crash 2. Catriona hurt by bad gag 3. Cousins urged to ... Costello Home owners: Mortgage stress 'alarmist' Election: Rudd reveals Labor's tax plan
    2007-10-19 06:36:00

  • Wachovia Net Drops 10% on Mortgage, Loan Writedowns (Update2)

    Bloomberg - Wachovia Net Drops 10% on Mortgage, Loan Writedowns (Update2) By David Mildenberg Oct ... The company's total provision for credit losses rose to $408 million from $108 ... also based in Charlotte, set aside $2 billion in the quarter to cover bad loans ...
    2007-10-19 05:17:00

  • Wachovia Earnings Fall Short, Hurt by Credit Woes

    CNBC - ... said it set aside $408 million for credit losses, nearly quadruple the year-earlier level, while net charge-offs rose to 78 percent to $206 million. ... Corp., an Oakland, California, mortgage ...
    2007-10-19 05:38:00

  • Stocks flat on credit-crisis unease (The Philadelphia Inquirer)

    NEW YORK - Wall Street pared its losses to finish flat yesterday, but remained uneasy after disappointing results from Bank of America Corp. provided further evidence that the credit crisis is hurting the nation's economy.
    2007-10-19 01:03:34

  • Wachovia Net Drops 10% on Mortgage, Loan Writedowns (Update2) (Bloomberg.com)

    Oct. 19 (Bloomberg) -- Wachovia Corp., the bank that's spending more on acquisitions than its biggest competitors, reported earnings that missed analyst estimates after $1.3 billion in writedowns for mortgage-backed securities and loans for leveraged buyouts.
    2007-10-19 05:27:41

  • Capital One Reports Loss From Closing Mortgage Unit (Washington Post)

    Capital One Financial of McLean posted its first quarterly loss ever, from the expense of shutting down its mortgage lender, and warned of additional challenges in the credit card and auto finance businesses.
    2007-10-18 10:49:31

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