Mortgage and Financial News From 2008-1-14 Page 12

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• Hong Kong shares higher on bargain-hunting after Wall Street ... - CNNMoney.com

  Hong Kong shares higher on bargain-hunting after Wall Street ...CNNMoney.com - 1 hour agoThe bank's non-performing loans accounted for about 1.5 percent of its portfolio and its loan-loss provision covered about 110 percent of soured loans. ...
  2008-01-14 06:58:07

• Sovereign takes $1.6B charge related to acquisition, market turmoil - Trading Markets (press release)

  Sovereign takes $1.6B charge related to acquisition, market turmoilTrading Markets (press release), CA - 1 hour ago... were $180 million related to the impairment of certain securities and and $27 million in losses on loans to mortgage companies that are in default. ...
  2008-01-14 07:12:23

• Wall Street's US$35 billion writedown squeezes profits - China Post

  Wall Street's US$35 billion writedown squeezes profitsChina Post, Taiwan - 1 hour ago... forcing New York-based Citigroup and Merrill to seek more than US$13 billion from foreign investors, and hobbled their ability to make new loans. ...
  2008-01-14 07:13:06

• Business and Economy - Nigerian Tribune

  Business and EconomyNigerian Tribune, Nigeria - 54 minutes agoDesigning convoluted securities out of simple mortgage loans, Wall Street’s wizards thought they had managed to offload all their risks to others. ...
  2008-01-14 07:27:24

• Foreclosure: There goes the neighborhood - KHOU

  Foreclosure: There goes the neighborhoodKHOU, TX - 51 minutes agoThose people’s incomes barely allowed them to pay the mortgage, let alone the property taxes. “Lenders were giving people loans that shouldn’t have been ...
  2008-01-14 07:31:19

• Canadian Bank Hopes Stock Offer Calms Fears - New York Times

  Canadian Bank Hopes Stock Offer Calms FearsNew York Times, United States - 42 minutes agoThe bank, based in Toronto, has by far the biggest exposure of any Canadian bank to troubled American mortgage debt, about $9.8 billion. ...
  2008-01-14 07:39:26

• Yen rises in Asian trade as investors shun risk - Inquirer.net

  Yen rises in Asian trade as investors shun riskInquirer.net, Philippines - 38 minutes agoThe Federal Open Market Committee cut rates three times back to back since September on concern over the subprime sector, or housing loans to high-risk ...
  2008-01-14 07:44:07

• Wire business briefs -- 01/15 - Press-Enterprise

  Wire business briefs -- 01/15Press-Enterprise, CA - 7 minutes ago... brought on by the widespread spike in mortgage defaults and foreclosures, especially in subprime loans -- those made to borrowers with weak credit. ...
  2008-01-14 08:15:09

• (AFX UK Focus) 2008-01-15 02:52 GMT: Hong Kong shares higher on bargain-hunting after Wall Street rebound - UPDATE (Interactive Investor)

  HONG KONG (Thomson Financial) - Hong Kong shares were higher in early trade Tuesday as investors hunted for bargains after three straight days of losses, encouraged by Wall Street's overnight rebound.
  2008-01-14 07:26:02

• I.B.M. Gains Lift Gloom From Markets (NYTimes.com via Yahoo! Finance)

  Wall Street advanced sharply Monday after a rout on Friday following solid preliminary results from I.B.M.
  2008-01-14 07:39:00

• Citi to Announce Big Cuts and New Investors (NYTimes.com via Yahoo! Finance)

  Citigroup is expected to announce on Tuesday 4,000 additional job cuts, a steep cut in its stock dividend, and another boost from foreign investors.
  2008-01-14 07:39:01

• Baltimore Finds Subprime Crisis Snags Women (NYTimes.com via Yahoo! Finance)

  In Baltimore and elsewhere around the country, subprime mortgages, which are driving the foreclosure rate, have gone disproportionately to women.
  2008-01-14 07:39:13

• Canadian Bank Hopes Stock Offer Calms Fears (New York Times)

  The Canadian Imperial Bank of Commerce said it would issue 2.75 billion Canadian dollars in stock at substantially discounted prices.
  2008-01-14 07:41:13

• Foreclosure: There goes the neighborhood (11 News Houston)

  You don't have to lose your home in a foreclosure to suffer from the meltdown in the real estate market. Some areas are becoming disaster zones, inciting fear in some residents.
  2008-01-14 07:43:22

• Danny Schechter: When Will "Rescue Me" Become a New National Anthem? (HuffingtonPost)

  A self-interested maneuver by America's biggest consumer bank is being cast in a heroic light, as the "rescue" of America's biggest mortgage company.
  2008-01-14 07:49:14

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