Mortgage and Financial News From 2007-9-7 Page 2

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  • Centex Mortgage taps JPMorgan for credit

    BusinessWeek - Centex Corp., one of the nation's largest homebuilders, said Friday its mortgage unit entered into a $450 million warehouse credit facility with JPMorgan Chase Bank to fund the origination of mortgage loans. The homebuilder said its mortgage unit ...
    2007-09-07 12:19:00

  • Countrywide to cut up to 12,000 jobs amid mortgage trouble (USA Today)

    Struggling lender Countrywide Financial said Friday it will cut as many as 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry.
    2007-09-07 06:18:26

  • ACORN study highlights mortgage disparity (Lansing State Journal)

    Blacks and Latinos in the Lansing area are more likely to end up with high-cost, subprime loans to buy or refinance their homes than whites, according to a study of federal mortgage data released today by a national advocacy group.
    2007-09-07 09:59:08

  • Mortgage Lender Plans Job Cuts (Hartford Courant)

    Countrywide Says It Must Ax Up To 12,000 As New Loans Decrease Struggling lender Countrywide Financial Corp. said Friday it will cut as many as 12,000 jobs as it deals with challenging conditions in the mortgage industry.
    2007-09-07 06:45:27

  • Centex Mortgage Taps JPMorgan for Credit (AP via Yahoo! Finance)

    Centex Corp., one of the nation's largest homebuilders, said Friday its mortgage unit entered into a $450 million warehouse credit facility with JPMorgan Chase Bank to fund the origination of mortgage loans.
    2007-09-07 09:51:17

  • BAE stays airborne despite market turbulence

    Guardian Unlimited - This was the first drop in four years and reinforced fears that the problems in the US sub-prime mortgage market were having an effect on the rest of the country's economy. Economists said the news made an interest rate cut by the Federal Reserve ...
    2007-09-07 12:40:00

  • UK interest rates kept at 5.75%

    BBC News - ... Bank of England's interest rate ... exposed to sub-prime debt, become far more cautious about whom they lent money to. 'Not enough' With banks less willing to lend money, market interest rates have been rising, which makes a Bank of England rate rise ...
    2007-09-06 06:08:00

  • Economic Outlook: The Week Ahead

    CNBC - ... to distressed money and credit markets and await a signal from Federal Reserve Chairman Ben Bernanke on whether an interest rate ... lecture on global imbalances in Berlin on Tuesday and ECB President Jean-Claude Trichet's special hearing on sub-prime ...
    2007-09-07 01:45:00

  • FT index shows house price growth slowing

    Financial Times - However, he said that the housing market was likely to continue to slow as this year’s three interest rate rises took effect and as some mortgage rates crept up in response to the fallout from the US sub-prime mortgage market. This week Halifax ...
    2007-09-07 12:40:00

  • Treasurys surge on weak jobs report

    CNN Money - ... it suggested the economy is soft enough for the Federal Reserve to cut interest rates ... if you can call this economy recessionary, but this news supports the Fed rate ... credit markets, which contracted severely in August on worries about below-prime ...
    2007-09-07 01:02:00

  • Riksbank moves on

    FXStreet.com - ... Fundamental Reports Market View World Interest Rates Economic Indicator Reports Interest Rate ... Riksbank raised the repo rate today by 25 bp to 3.75% and said it will continue ... that the turmoil in financial markets – which emanates from the US sub-prime ...
    2007-09-07 12:05:00

  • Thousands default on student loans; Group blames high interest rates

    Owen Sound Sun Times - Some people still didn't qualify for relief even though nearly half their income was going to pay student loans, for which the interest rate is pegged at 2.5 per cent above prime, for a current rate of 8.75 per cent. Benedict said the threshold ...
    2007-09-05 05:58:00

  • Taking Credit's Temperature

    US News and World Report - That's not only because their lower ratings will force many bondholders to remark their values and sell the paper at a loss but also due to a growing tidal wave of interest-rate resets on somewhere north of $300 billion in subprime loans. The rising ...
    2007-09-07 11:57:00

  • Sub-prime fallout: Beyond stock markets (The Hindu)

    The sub-prime lending storm did not break overnight. The clouds had been gathering strength for some months. Low interest rates and ample liquidity led to unbridled credit expansion, asset growth and proliferation of collateralised debt.
    2007-09-07 11:47:54

  • Swedish Central Bank Hikes Key Rate (AP via Yahoo! Finance)

    Sweden's central bank raised its key interest rate Friday by a quarter of a percentage point to 3.75 percent and signaled further hikes ahead.
    2007-09-07 01:53:06

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