Mortgage and Financial News From 2007-10-27 Page 2
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Mortgage lender loses $1B in 3Q (Daily Press)
Countrywide Financial Corp., the nation's largest mortgage lender, said Friday that it swung to a loss of more than $1 billion in the third quarter. Mortgage market woes forced it to set aside millions in loan-loss provisions and writedowns, and the lender originated fewer loans. It was the first quarterly loss for the Calabasas, Calif.-based lender in 25 years.
2007-10-27 01:09:12 -
Letters to the editor for Tuesday, Oct. 23
Minneapolis Star Tribune - Not the answer for whom? Lumping traumatized family homebuyers with mortgage-flipping speculators might let the mayor off the ... Still, our relationship was considered legitimate only when it benefited the hospital financially; in order to calculate our ...
2007-10-22 05:59:00 -
Wesfarmers can bank on Coles loan
Age - ... rates on the loans have not been disclosed, but Wesfarmers used a rate of 7.45 per cent in its scheme booklet to calculate ... Some market commentators speculate the mortgage-backed securities market in the US may never reappear. "What we're seeing is ...
2007-10-26 06:56:00 -
AMT tax mess may not be fixed soon
Los Angeles Daily News - Many taxpayers don't realize they're supposed to calculate ... panel ignited a firestorm by suggesting the lost revenue could be offset by slashing coveted deductions such as mortgage ...
2007-10-27 01:33:00 -
Geographer criticizes loan practices
Bellingham Herald - ... loans to borrowers with dubious credit, and to calculate higher interest rates on those loans to compensate. Investors began to pour money into financial institutions that made such loans, hoping for higher profits. The result: lenders made mortgage ...
2007-10-26 11:52:00 -
Geographer criticizes loan practices (The Bellingham Herald)
BELLINGHAM — The availability of subprime loans made it easier for poor people to borrow money in recent years, but that borrowing may have hurt more people than it helped, University of British Columbia geographer Elvin Wyly said Friday.
2007-10-27 12:06:36 -
AMT tax mess may not be fixed soon (San Jose Mercury News)
Few regions have more people who would benefit from a new Democratic proposal to eliminate the alternative minimum tax than Silicon Valley, one of the dreaded tax system's prime hunting grounds.
2007-10-27 01:56:17 -
Sub-Prime Crisis Is Far From Over
Sky.com - Sub-Prime Crisis Is Far From Over By David Stevenson. Updated: 08:41, Thursday ... home sales fell by a worse-than-expected 8% last month to an annualised rate of ... With more than $250bn of US mortgages resetting to sharply higher interest rates in ...
2007-10-24 05:57:00 -
Sebi shuts back door, opens many in front
Indian Express - Moreover, with the US sub-prime drama still unfolding, there may be another interest rate cut from the US Federal Reserve. This means more US funds will exit that country in search of growth markets like India and China where foreign investors have ...
2007-10-27 03:09:00 -
Interest rates go bananas
The Australian - ... Reserve Bank, but it's a lot easier to be enthusiastic about that principle when global interest rates are at record lows, too. With the prospect of rate ... result is that the Government has turned its rhetoric to the ripple effects of the sub-prime ...
2007-10-27 02:26:00 -
Federal Election: Your leaders
News.com.au - PM cheered, Rudd mobbed PRIME Minister John Howard's day started with dozens of wellwishers, but it turned nasty by late morning with a higher-than-expected inflation figure making a pre-election interest rate rise almost inevitable.
2007-10-27 02:19:00 -
Howard dodges climate questions over leaked information
News.com.au - PRIME Minister John Howard has dodged questions about whether he believes his Environment Minister Malcolm Turnbull ... Mr Howard also refused to acknowledge that another interest rate hike before the November 24 election could be dangerous for the ...
2007-10-27 04:56:00 -
PM picks jobs as rate hike looms
The Australian - The Coalition appears to be preparing for the inevitable fall-out of a rate rise, with the Prime Minister also admitting that a Liberal advertisement during the 2004 campaign promising to "keep interest rates at record lows" was dishonest and had to ...
2007-10-27 02:26:00 -
Australia faces economic turbulence from U.S. meltdown
Reuters UK - ... advanced economies, faced looming economic turbulence from the subprime lending meltdown in the United States, Prime ... Battling poor opinion polls, Howard faces the prospect of an official interest rate increase by the Reserve Bank on November 6 ...
2007-10-27 07:34:00 -
UK prime target for a crash
Observer - Two million American families could lose their homes before the sub-prime mortgage crisis subsides. As the Federal Reserve prepares a second emergency interest rate cut, there are fears that as the damage spreads, the UK, with perilously indebted ...
2007-10-27 03:30:00