Mortgage and Financial News From 2007-10-26 Page 16

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  • Countrywide Posts Loss, Shares Advance on Forecast (Update5)

    Bloomberg - Oct. 26 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage lender ... The results ``were not as bad as market participants anticipated,'' said Peter ... own shares. ``The company is viewed as a survivor within the midst of the credit ...
    2007-10-26 08:43:00

  • Earnings Send Stocks Higher

    Forbes - Home mortgage lender Countrywide Financial (nyse: CFC - news - people ... The Good The Bad Or The Ugly?" ) Countrywide was up $3.13, or 24.0%, to $16.20, on ... despite the challenges the lender continues to face from fallout of the credit ...
    2007-10-26 09:26:00

  • Rethinking the 'credit culture'

    International Herald Tribune - Since the summer, conditions in world credit markets have been grabbing headlines as the subprime mortgage crisis that started in the United States has ... In France, the attitude to debt is typical of a Catholic country - it's a bad thing," said ...
    2007-10-26 03:43:00

  • Shares of AIG dip as Citi analyst estimates insurer will lose $1.6 ...

    CNBC - As a sprawling financial services company, AIG's exposure to bad mortgage credit is tough to assess, Shanker said. AIG reported subprime exposure of $29 billion through investments and commitments to finance or guarantee debt repayments as of midyear ...
    2007-10-25 10:18:00

  • Lending turmoil hands Countrywide a $1.2-billion loss

    Los Angeles Times - Mortgage colossus Countrywide Financial Corp. today reported a third-quarter loss of $1.2 ... and defaults, especially in the sub-prime market for borrowers with poor credit scores or overtaxed finances. The third-quarter reserve for bad loans was ...
    2007-10-26 09:19:00

  • Credit Crisis Spreading New Jitters in Europe

    New York Times - ... vulnerable to shocks from the crisis that originated in the American home mortgage ... securities, they insist that they are on top of the situation and that the bad ... Krämer of Commerzbank said. “The credit crisis has had a real-world economic ...
    2007-10-26 09:12:00

  • Merrill Lynch CEO may be ousted

    MSNBC - Earlier this week, Merrill reported its first quarterly loss in six years, hurt by bad bets on mortgage securities. The world's biggest brokerage said this week the credit crisis triggered a bigger-than-expected $7.9 billion writedown during the ...
    2007-10-26 09:05:00

  • Commissioner lashes out at banks for 'irresponsible' behavior ahead of ...

    CNBC - ... rulebooks and lashed out at "irresponsible" behavior by banks ahead of the global credit crisis. "Irresponsible lending, blind investing, bad liquidity ... to each other for fear that rivals were not revealing their exposure to the U.S. subprime mortgage ...
    2007-10-26 07:53:00

  • Tax-free debt may face risks from Merrill

    Reuters - Prices for natural gas bonds that other broker-dealers brought to market have also been clipped since Wednesday, when agencies cut Merrill's credit due to its bad subprime mortgage bets. This kind of debt rises and falls with the underwriters' credits ...
    2007-10-26 09:41:00

  • Institutional money pours into overheated oil

    Reuters - Federal Reserve cut its discount rate in August to help ease the credit market crisis triggered by bad loans in the U.S. mortgage sector. But the shift in the structure of the oil market to backwardation from contango also played a big part. "A lot of ...
    2007-10-26 09:41:00

  • Stocks Rise on Strong Earnings Reports

    CNBC - The credit squeeze, brought about by escalating subprime mortgage defaults, has given the banking industry trouble. Wall Street hopes the Federal Reserve will lower interest rates again when it meets next week, after cutting them in September. ...
    2007-10-26 08:50:00

  • Stocks climb on Microsoft, Countrywide

    CNBC - Countrywide, the largest U.S. mortgage lender, said the housing slump led to a $1.2 billion third-quarter loss, but it ... On Wednesday, Merrill reported huge write-downs for bad investments related to risky subprime mortgages. The New York ...
    2007-10-26 09:48:00

  • Rethinking the 'credit culture' (International Herald Tribune)

    It has long been thought that a liberal credit market was best for consumers and industry. But more voices are suggesting now that consumers in countries where credit conditions have been tightest will emerge in better shape when the crisis is over. Depending on how restrictive countries' policies are, consumer indebtedness - and its effects - vary.
    2007-10-26 04:05:28

  • Countrywide Financial swings to loss of $1.2 billion on weakening mortgage market (International Herald Tribune)

    Countrywide Financial Corp., the largest U.S. mortgage lender, said Friday it swung to a loss of more than $1 billion (€700 million) in the third quarter on to rising loan-loss provisions, writedowns and dwindling origination volume.
    2007-10-26 06:05:28

  • Credit contagion infects Americans' wallets (MSN Money Canada)

    The mortgage mess has already spread to car loans and credit cards in the U.S. If American consumers run scared and stop borrowing, the U.S. economy is in big trouble.
    2007-10-26 09:57:12

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