Mortgage and Financial News From 2008-1-14 Page 6

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• U.S. Stocks Rise After IBM's Earnings Top Analysts' Estimates

  Bloomberg - Newmont Mining Corp., the world's second-largest gold miner, and Halliburton Co., the second-biggest oilfield services ... in earnings in the fourth quarter as financial companies write off more losses from investments linked to subprime mortgages ...
  2008-01-14 03:27:00

• Trader Made Billions on Subprime

  Wall Street Journal - It was the ABX, an index that reflects the value of a basket of subprime mortgages made over six months. An index of those made in the first half of 2006 appeared in July 2006. The Paulson funds sold it short. The index weakened in the second half. By ...
  2008-01-14 09:03:00

• NY City personal income tax revs jump in early Jan

  Forbes - But the city's economy still could wither in the second half of its budget year, as business tax collections appear soft, partly due the massive losses suffered by Wall Street banks that made disastrous bets on subprime mortgages. So January's ...
  2008-01-14 02:37:00

• Markets braced for bad news from major US banks

  Xinhua News Agency - The Financial Times said yesterday that Merrill was seeking about 4 billion dollars in a second capital raising, and the ... Banks, wrestling with huge losses stemming from mortgages lent to people ill-equipped to repay them, have been seeking cash ...
  2008-01-14 06:33:00

• Dollar Falls for Fourth Day Against Yen on Fed Rate-Cut Bets

  Bloomberg - ... this week's earnings reports from Citigroup Inc. and Merrill Lynch & Co., which will highlight losses on subprime mortgages ... said Yuji Saito, head of the foreign-exchange sales department in Tokyo at Societe Generale SA, a unit of France's second ...
  2008-01-14 09:18:00

• ANALYSIS-Wal-Mart, teens could be 2008's best retail bet

  Forbes - Many retailers struggled to attract shoppers in the second half of 2007 as consumers were hammered by soaring prices for food and fuel, rising payments on adjustable rate mortgages, declining home values, and job insecurity. But some stores that sell ...
  2008-01-14 12:56:00

• US bank losses intensify recession fears

  World Socialist Web Site - Freddie Mac, the big mortgage finance company, found that homeowners refinancing their mortgages were able to extract $20 billion less in the third quarter than the second. The $60 billion in home equity extracted was the lowest since the first ...
  2008-01-14 08:56:00

• Canadian Stocks Rise on Record Gold, Corn; Yamana, Potash Gain

  Bloomberg - A gauge of financial shares declined 1 percent, extending its decline on concern they may have losses on securities tied to U.S. subprime mortgages or other loans. Toronto-Dominion, Canada's second-largest lender by assets, dropped C$1.44 ...
  2008-01-14 09:43:00

• WRAPUP 1-Mortgages, credit hurt M&T Bank, Sovereign Bancorp

  Forbes - WRAPUP 1-Mortgages, credit hurt M&T Bank, Sovereign Bancorp 01.14.08, 11:39 AM ET By Jonathan Stempel NEW YORK (Reuters) - M ... Philadelphia-based Sovereign, the second-largest U.S. savings and loan, announced $1.58 billion of write-offs. It wrote ...
  2008-01-14 09:00:00

• One in four buyers opt for 100% mortgages

  Irish Examiner - ... figure is well down on the one in three who chose total financing in 2006 as lenders clamp down on their offerings. Figures released by the Irish Mortgage Corporation (IMC) show that 25.2% of first-time buyers opted for 100% mortgages in the second ...
  2008-01-14 04:03:00

• Our working lives: 100 per cent loan on kiwi dream - New Zealand Herald

  Our working lives: 100 per cent loan on kiwi dreamNew Zealand Herald, New Zealand - 5 hours ago"Going back three or four years, 100 per cent mortgages were only available through non-conforming type entities and second-tier lenders," says Mortgage ...
  2008-01-14 04:23:18

• Citigroup to Cut 20000 Jobs and Slash Dividend, WSJ Reports - Bloomberg

  Citigroup to Cut 20000 Jobs and Slash Dividend, WSJ ReportsBloomberg - 5 hours agoCharles O. Prince stepped down as CEO after the bank warned of bigger-than-expected writedowns on subprime mortgages and related securities. ...
  2008-01-14 04:33:42

• IBM beats analysts' expectations by 20 cents; Virgin Atlantic ... - Austin American-Statesman

  IBM beats analysts' expectations by 20 cents; Virgin Atlantic ...Austin American-Statesman, TX - 2 hours agos Fox network commanded at least $780000 for 30-second spots. Commercials bought now are priced in the low $900000s. WASHINGTON — Interest rates on ...
  2008-01-14 07:11:40

• Mason dad talks to cops - Cincinnati Enquirer

  Mason dad talks to copsCincinnati Enquirer, OH - 2 hours agoVeillette had three mortgages on the property – $348600 from Mortgage Electronic Registration Systems (MERS), a loan servicing company, dated April 17, ...
  2008-01-14 07:34:46

• Home sales decline for sixth straight month - Austin American-Statesman

  Home sales decline for sixth straight monthAustin American-Statesman, TX - 1 hour agoThe national housing slowdown and mortgage crisis has crept into the Austin market in recent months, reducing sales of existing and new homes. ...
  2008-01-14 07:50:30

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