Mortgage and Financial News From 2007-10-4 Page 10

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  • Relief Bills for Homeowners Advance

    Forbes - ... of some strapped homeowners by $650 million while eliminating a tax break that had been available on the sale of second ... An estimated 2 million to 2.5 million adjustable-rate mortgages - worth some $600 billion - will jump from low initial "teaser ...
    2007-10-04 12:44:00

  • Iwata Says Markets, U.S. Slowdown Could Hurt Japan (Update4)

    Bloomberg - Expectations that the bank would raise rates for a second time this year waned last quarter, after losses on securities linked to U.S. subprime mortgages led to a global shortage of credit and caused stocks to tumble and the yen to surge ...
    2007-10-04 01:31:00

  • St Laurence embroiled in Queensland property fiasco

    New Zealand Herald - Mr Podmore was confident St Laurence, which has about $280m in investor funds, would recover its debts which are secured by first and second mortgages over Maxen's 12 Mile Beach and Fraser Waters property developments in Queensland's Hervey Bay. He ...
    2007-10-04 03:26:00

  • Rates held - mortgages move

    Manchester Evening News - MORTGAGE rates continued to move today despite the Bank of England keeping interest rates on hold. The UK's second biggest mortgage lender Abbey continued the trend seen in recent weeks of lenders raising their variable rates but cutting the cost of ...
    2007-10-04 05:56:00

  • SocGen reiterates its targets despite tough Q3

    Reuters - PARIS, Oct 4 (Reuters) - Societe Generale (SOGN.PA: Quote , Profile , Research ), France's second-biggest listed bank ... The bank also reiterated that its exposure to asset classes at risk, such as U.S. mortgages and leveraged buyout (LBO ...
    2007-10-04 08:48:00

  • U.S. 10-Year Note Yield Near Two-Week Low Before Factory Report

    Bloomberg - Yields slid three quarters of a percentage point since mid- June on expectations the Federal Reserve will cut interest rates for at least a second time to prevent a surge in defaulted subprime mortgages from derailing economic growth. Bill Gross, who ...
    2007-10-04 02:21:00

  • Another finance company in trouble

    Stuff - ... finances commercial plant finance leases and other secured lending contracts, according to the company's web site. Mr Clegg had earlier set up Classic Finance in 1995 to finance hire purchases and other secured lending, mainly second mortgages. ...
    2007-10-04 05:42:00

  • Another finance company collapses

    MSN New Zealand - The firm was founded by Brian Clegg in April 2002 and specialises in secured lending - mainly second mortgages. ...
    2007-10-04 10:07:00

  • How did we survive without cell phones"

    Milford Mirror - And what's with over-use charges that some poor parents are looking for second mortgages to fund? Yes, as Terri Miles said, cell phones are everywhere; they've become part of mainstream America. Now we need some good old American controls over an ...
    2007-10-04 07:22:00

  • Bear Stearns to `Weather Storm,' Won't Need Infusion (Update6)

    Bloomberg - Bear Stearns, the second-biggest underwriter of U.S. mortgage-backed securities, said yesterday it was cutting 310 jobs from units that originate mortgages. Securities firms have been eliminating mortgage jobs after record U.S ...
    2007-10-04 01:27:00

  • Harbinger Rises More Than 65% in 2007 on Subprime (Update2)

    Bloomberg - Falcone, 45, expected bonds backed by mortgages to borrowers with poor credit histories to lose value, and he benefited as foreclosures set a record in the second quarter, according to data from the Mortgage Bankers Association in Washington ...
    2007-10-04 01:20:00

  • Report says more minorities have subprime loans (Small Business Times)

    Nearly four out of every 10 mortgages extended to "all minorities" in 2006 in America were subprime loans - more than double the rate for white borrowers, and the problem was particularly acute in Wisconsin, according to a new report.
    2007-10-04 09:56:27

  • DP World Plans $3.5 Billion Dubai Initial Share Sale (Update4) (Bloomberg.com)

    Oct. 4 (Bloomberg) -- DP World, the Dubai-based owner of ports from the U.K. to China, plans to raise as much as $3.5 billion in the Middle East's second-biggest initial share sale, two people with knowledge of the proposal said.
    2007-10-04 08:45:49

  • House Passes Tax Break For Homeowners Who Rework Mortgages (Nasdaq)

    WASHINGTON -(Dow Jones)- The U.S. House of Representatives moved to help homeowners Thursday by approving a bill that provides an estimated $1.4 billion in tax relief over the next five years.
    2007-10-04 01:05:01

  • Harbinger Rises More Than 65% in 2007 on Subprime (Update2) (Bloomberg.com)

    Oct. 4 (Bloomberg) -- Harbinger Capital Partners, the hedge-fund firm run by former Barclays Capital trader Philip Falcone, generated returns of more than 65 percent this year, helped by bets against mortgages and gains on metals companies.
    2007-10-04 01:35:43

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