Mortgage and Financial News From 2007-12-14 Page 4

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  • Financial Freedom: We didn't sell that reverse mortgage (Salon.com)

    A company slammed in a Senate hearing on Wednesday says: "It wasn't us"
    2007-12-14 09:17:57

  • Citigroup Rescues SIVs With $58 Billion Debt Bailout (Update5)

    Bloomberg - The bank will probably ``take sizable writedowns'' for securities backed by home mortgages and collateralized debt obligations ... Charlotte, North Carolina-based Bank of America, the second-largest U.S. bank, said last week that it will liquidate a $12 ...
    2007-12-14 02:45:00

  • Pound Posts Third Weekly Loss as Money-Market Rates Stay High

    Bloomberg - ... declined for a third week against the dollar as money-market rates for the U.K. currency failed to respond for a second day ... Financial institutions this year announced more than $70 billion of losses linked to subprime mortgages. The pound ...
    2007-12-14 09:16:00

  • The Australian slump

    International Herald Tribune - WELLINGTON : Australian initial public offerings may lose money for a second consecutive year in 2008 as investors retreat from unprofitable commodity explorers and financial companies infected by losses from subprime mortgages. Bloomberg's ...
    2007-12-12 03:59:00

  • Citigroup's Dividend Put at Risk by SIV-Fund Bailout (Update2)

    Bloomberg - ... mortgages. Financial institutions have since reported more than $70 billion of losses and writedowns. Citigroup invented SIVs in 1988 and was the biggest manager of the funds. Charlotte, North Carolina-based Bank of America, the second ...
    2007-12-14 02:59:00

  • Mike Nadel: Beyond juicy names, do fans really care?

    State Journal-Register - They even dig the biggest losers in sports; the Cubs haven’t won a lick since before Babe Ruth was ingesting his drug of choice (beer, and mass quantities of it), yet Wrigley Field is packed at prices requiring second mortgages to pay. As a ...
    2007-12-14 04:29:00

  • Affordable Housing

    New York Observer - For one, the city has drawn down almost all of the money it was planning to spend from the Housing Development Corporation, which gives out second mortgages that reward developers for building affordable housing with very cheap financing (like, 1 ...
    2007-12-14 12:07:00

  • Treasuries Fall Second Straight Week as Consumer Prices Climb

    Bloomberg - Treasury notes dropped for a second straight week as the biggest increase in consumer prices in two years led traders to ... by financial institutions this year and estimates of about $300 billion more on securities linked to subprime mortgages ...
    2007-12-14 01:05:00

  • Money-Market Rates Fail to Respond to Bank Measures (Update3) (Bloomberg.com)

    Dec. 14 (Bloomberg) -- Money markets failed to respond for a second day to the biggest effort by central banks to restore confidence in the world financial system.
    2007-12-14 04:28:51

  • Money-Market Rates Fail to Respond to Bank Measures (Update4) (Bloomberg.com)

    Dec. 14 (Bloomberg) -- Money markets failed to respond for a second day to the biggest effort by central banks in six years to restore confidence in the world financial system.
    2007-12-14 04:59:07

  • Pound Falls as Central Banks' Plan Fails to Lower Lending Rates (Bloomberg.com)

    Dec. 14 (Bloomberg) -- The pound was poised for a third week of declines against the dollar as money-market rates for the U.K. currency failed to respond for a second day to combined action by central banks to ease a year-end credit squeeze.
    2007-12-14 09:16:50

  • Pound Posts Third Weekly Loss as Money-Market Rates Stay High (Bloomberg.com)

    Dec. 14 (Bloomberg) -- The pound declined for a third week against the dollar as money-market rates for the U.K. currency failed to respond for a second day to combined action by central banks to ease a year-end credit squeeze.
    2007-12-14 09:31:54

  • Ambac reinsures $29bn slice of portfolio (FT.com via Yahoo! News)

    Ambac, the world's second largest bond insurer, on Thursday said it had agreed to reinsure a $29bn slice of its portfolio as part of an attempt to improve its capital base.
    2007-12-14 03:20:18

  • Cutting through the normal banking rules

    Daily Telegraph - ... on the other side of the Atlantic or the Channel, and despite a series of interest ... Only problem was: the medicine didn't seem to be going down at all well. Money ... One of the ways they did this was to lump their mortgage assets into structured ...
    2007-12-14 04:46:00

  • Yes Virginia, There Is Inflation

    Forbes - ... core CPI, which is stripped of volatile food and energy prices, rose 0.3%, only ... the tightrope the Federal Reserve is attempting to walk: cutting interest rates to ... continues to be one of very few firms to rise above the mortgage mess. The Wall ...
    2007-12-14 02:02:00

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