Mortgage and Financial News From 2008-1-8 Page 13

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  • Stock Plunges 28% At Countrywide (Hartford Courant)

    Shares of Countrywide Financial Corp., the nation's largest mortgage lender, plunged Tuesday after the company denied rumors that it was planning to file for bankruptcy protection.
    2008-01-08 06:58:53

  • Webster Sets Aside Funds For Loan Losses (Hartford Courant)

    Troubles with higher-risk loans are cutting into bank earnings across the country, and Waterbury-based Webster Financial Corp. is feeling the sting.
    2008-01-08 06:59:03

  • For A 'Debt Hangover,' Tough Medicine (Hartford Courant)

    If Holiday Spending Made It Worse, You May Have To Get Second Job, Slash Optional Purchases As the credit card bills start rolling in this month from the recent holiday season, many consumers are going to get that queasy feeling that they've overindulged. There are antidotes for "debt hangover," experts say, but they require putting payment strategies in place — and sticking to them.
    2008-01-08 06:59:13

  • Baltimore lawsuit charges Wells Fargo with creating subprime crisis in the city (Austin American-Statesman)

    BALTIMORE — Black neighborhoods in Baltimore were disproportionately affected by the subprime mortgage fallout, according to a federal lawsuit filed Tuesday by the city, which is attempting to recoup the costs of maintaining neighborhoods wracked by foreclosures.
    2008-01-08 07:12:23

  • Baltimore Is Suing Bank Over Foreclosure Crisis (Muslim American Society)

    BALTIMORE , MD ( NYTimes ) Jan. 8, 2007 - Baltimore 's mayor and City Council are suing Wells Fargo Bank, contending that its lending practices discriminated against black borrowers and led to a wave of foreclosures that has reduced city tax revenues and increased its costs.
    2008-01-08 07:13:28

  • ANZ leaves rate door open to rivals

    The Australian - ... surprise to see the Commonwealth raise rates by say 10 basis points, less than the 12 point increase by NAB and the 20 point increase by ANZ, leaving Australia’s biggest home lender in the enviable position of having the lowest variable mortgage ...
    2008-01-08 05:50:00

  • CD wars hurting bank profits

    Chicago Tribune - ... of industry profitability -- already at the lowest level since 1991. Much of the pinch is being attributed to a scramble for deposits. ... banks have largely avoided the subprime mortgage ...
    2008-01-08 02:08:00

  • Halifax posts surprise rise in house prices

    Financial Times - ... release, with the lack of compelling evidence to support a cut in interest rates ... Halifax’s survey contrasts with other recent data showing lower mortgage approvals ... The lender’s index of consumer confidence edged down to its lowest level since ...
    2008-01-08 05:28:00

  • Australian Dollar Falls Against Yen After U.S. Stocks Plunge

    Bloomberg - The Standard & Poor's 500 Index closed at the lowest since March 16 after U.S. home sales figures missed economists' estimates and on concern Countrywide Financial Corp., the largest U.S. mortgage ... borrow funds in countries with lower lending rates ...
    2008-01-08 02:51:00

  • Conflicting retail and housing data leaves interest rate decision on ...

    International Herald Tribune - LONDON : The Bank of England's decision on interest rates this week is poised on a knife edge as retailers reported their worst Christmas since 2004 and the country's biggest mortgage ... compared with a year earlier, at 5.2 percent — the lowest in ...
    2008-01-08 10:48:00

  • Money-Market Rates Fall a 7th Day, Banks Ease Tension (Update3)

    Bloomberg - Money-Market Rates Fall a 7th Day, Banks Ease Tension (Update3) By Gavin Finch Jan ... offered rate, or Euribor, dropped 2 basis points to 4.60 percent, the lowest since ... back down to the levels of July, before the collapse of the U.S. subprime- mortgage ...
    2008-01-08 04:57:00

  • Asia Day Ahead: Credit Derivatives $250 Billion Loss (Update1)

    Bloomberg - ... by AT&T Inc.'s customers sent the Standard & Poor's 500 Index to the lowest level ... Goldman Sachs Group Inc. ``estimates that mortgage related losses of $200-$400 ... investors to increase bets that the Federal Reserve will reduce interest rates ...
    2008-01-08 01:32:00

  • H&R Block, GE Capital Lead $17 Billion of U.S. Sales (Update3)

    Bloomberg - ... which ousted its chief executive officer in November after more than $1 billion in mortgage ... A dozen issuers rushed into the market today, paying the lowest borrowing costs in 10 months, even as yields over benchmark rates rose to the highest in more ...
    2008-01-08 02:51:00

  • Treasuries Little Changed as Bond Yields Deter Investors

    Bloomberg - ... Treasuries were little changed as two-year note yields near the lowest since 2004 ... U.S. stocks declined as speculation increased that mortgage losses may accelerate ... group like Plosser who's going to argue for a more gradual decline in rates ...
    2008-01-08 12:21:00

  • UPDATE 4-Countrywide denies bankruptcy, stock plunges 27 pct

    Forbes - ... biggest drop since the 1987 stock market crash on concern the largest U.S. mortgage ... relative to the company," but its shares closed down $2.09 at $5.55, their lowest ... Harting rates Countrywide "underweight," and cut his forecast for fourth-quarter ...
    2008-01-08 02:44:00

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