Mortgage and Financial News From 2007-11-9 Page 6

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  • Wachovia Credit-Loss, Loan Reserves Reach $1.7 Bln (Update6) (Bloomberg.com)

    Nov. 9 (Bloomberg) -- Wachovia Corp., the fourth-biggest U.S. bank, said mortgage-related losses and reserves for bad loans total $1.7 billion so far this quarter, more than the lender reported for the previous three months.
    2007-11-09 01:55:13

  • US credit crisis worsens as $1bn loss hits bank (Gulf Daily News)

    NEW YORK: The US credit crisis deepened yesterday as Wachovia Corporation reported a $1.1 billion loss on subprime mortgage-related debt last month, while Capital One Financial Corporation said more customers are missing payments.Shares of both lenders fell, as did broader market indexes on expectations that write-downs and bad loans will mount.
    2007-11-09 01:56:12

  • Wachovia, Capital One, E*Trade warn on credit (Reuters via Yahoo! News)

    The credit crisis deepened on Friday as Wachovia Corp reported a potential $1.7 billion loss on mortgage-related debt, while credit card company Capital One Financial Corp said more customers are missing payments.
    2007-11-09 02:19:40

  • Wachovia, Capital One Say Credit Conditions Worsen (KOLR/KSFX Ozarks)

    (New York, NY) -- Two major banks are reporting more bad news for the housing and credit industries. Wachovia reported a one-point-one-billion-dollar loss on subprime mortgage-related debt in October, while Capital One Financial says more customers are missing payments.
    2007-11-09 11:56:05

  • Loonie surpasses $1.10 US

    CBC News - The US is our largest trading partner and this has a negative impact on us as just the reverse has happened. Lumber ... their paycheques for fewer Canadian dollars and bringing home less than their posted salaries as a result, yet their mortgages ...
    2007-11-06 03:59:00

  • Bundchen Buck Bashing: Right for Wrong Reasons

    Barron's Online - ... holders of dollars also invested them in other things, such as collateralized debt obligations made up of subprime mortgages ... Foreign monetary authorities at some point will reverse course and allow a substantial revaluation of their currencies ...
    2007-11-06 03:59:00

  • This week's Mutual Funds and ETF stories

    Marketwatch - ... multiyear lows this week over growing concern that banks may be on the hook for additional write-downs for subprime mortgages ... So we wondered if there was a systematic way to blunt or even reverse this downturn for REIT shareholders, and maybe to ...
    2007-11-07 03:57:00

  • Recession: not a good thing but not the end of the world

    Fort Worth Business Press - As lenders and investors have suffered losses on subprime mortgages – loans to weaker borrowers – they’ve tightened ... Today, a U.S. recession might also reverse the upward spiral of oil prices and trigger a faster – and healthier – drop ...
    2007-11-09 01:25:00

  • Bank Default Risks May Remain Near Five-Year High, Lehman Says

    Bloomberg - ... financials is justified given the difficult liquidity environment as well as deterioration in credit fundamentals and is unlikely to reverse before year-end.'' A ``sizeable minority'' of investors expect losses from defaulted mortgages to ...
    2007-11-09 05:54:00

  • Asian Currencies Gain, Led by Peso and Ringgit, as Dollar Falls (Bloomberg.com)

    By Aaron Pan and Francisco Alcuaz Jr. Nov. 10 (Bloomberg) -- Asian currencies strengthened this week as the dollar extended declines on speculation the U.S. Federal Reserve will keep cutting interest rates to revive slowing economic growth.
    2007-11-09 03:57:45

  • Moody's cut $10.3 bln CDO ratings in Oct, sees more

    Reuters - ... Service cut its ratings on $10.3 billion worth of collateralized debt obligations (CDOs) linked to subprime mortgages in ... Negative ratings action on first-lien and second-lien subprime RMBS issued in 2006 total roughly $77 billion so far ...
    2007-11-09 01:25:00

  • Bank of America expects hit from loans

    CNN Money - But the nation's second largest bank did not provide an estimate of how large the impact will be. In a regulatory filing ... CDOs are often partly backed by subprime mortgages, or loans given to customers with poor credit history. Shares of Bank of ...
    2007-11-09 12:56:00

  • Futures drop further after Wachovia news

    CNBC - NEW YORK (Reuters) - Stock index futures slid further on Friday as Wachovia Corp , the fourth-largest U.S. bank, disclosed exposure to securities linked to subprime mortgages, heightening investor concern about the impact of the credit crisis ...
    2007-11-09 04:06:00

  • Volatility Gauge Rises on Wachovia's Loss; Allegheny Calls Jump

    Bloomberg - ... aside as much as $600 million for bad loans in the fourth quarter, bringing its total losses to $1.7 billion, and said in a regulatory filing that securities linked to subprime mortgages lost $1.1 billion last month. Qualcomm, the second ...
    2007-11-09 02:29:00

  • Asian Stocks Have Worst Weekly Loss Since August; Banks Slide

    Bloomberg - Morgan Stanley, the second-biggest U.S. securities firm, said on Nov. 7 investment holdings related to U.S. subprime mortgages lost $3.7 billion of their value in the last two months. Mizuho Financial dropped 13 percent to 531,000 yen ...
    2007-11-09 03:55:00

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