Mortgage and Financial News From 2007-10-18 Page 9

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  • You Can't Go Home, E*Trade

    MSNBC - E*Trade (NYSE: ETFC) made its bed of nails. Now it has to sleep on it. The discount broker is paying the price for its exposure to the battered mortgage market. Last night's third-quarter report found the company posting a loss of $0.14 per share as ...
    2007-10-18 07:34:00

  • Lack of jumbo mortgage availability impacts East Bay home sales

    East Bay Business Times - August home sales increase in Sacramento [Sacramento] Lehman Bros. shuts down Md. mortgage company [Baltimore] Buyer backs out of Douglass National Bank deal [Kansas City] Lifting portfolio cap could hurt Fannie, Freddie [Washington, D.C.] New-home ...
    2007-10-18 02:51:00

  • Vital Signs: Housing Drag Won't Let Up

    BusinessWeek - Conditions in the credit market, touched off by bad subprime mortgages, are also making it tougher for those who would like to buy a home. Credit standards have been raised and mortgage rates are above levels seen before the credit market turmoil. A ...
    2007-10-18 04:24:00

  • Stocks Close Mostly Flat on BofA Results

    Newsday - Home Delivery ... Banks and brokerages have been hurt during the third quarter in the fallout from the subprime mortgage crisis. As people with ...
    2007-10-18 03:19:00

  • Buffett Avoids Bear Stearns, Countrywide Financial (Update2)

    Bloomberg - Oct. 18 (Bloomberg) -- Billionaire Warren Buffett said his Berkshire Hathaway Inc. won't buy a stake in Bear Stearns Cos. and that mortgage lender Countrywide Financial Corp. still isn't cheap after falling 61 percent this year. Buffett also said ...
    2007-10-18 03:19:00

  • 18% fall seen in '08 mortgage originations

    Seattle Times - BOSTON — The nation's more than $2 trillion home-mortgage business won't halt its slide anytime soon, with mortgage originations expected to fall 18 percent next year and decline an additional 6 percent in 2009, the Mortgage Bankers Association ...
    2007-10-17 12:11:00

  • Washington Mutual shares fall a day after big drop in Q3 profit

    Seattle Post Intelligencer - Home mortgage sales swung from a second-quarter gain of $192 million to a third-quarter loss of $222 million. It also reported an impairment loss of $104 million on investment-grade mortgage-backed securities available for sale. Subprime mortgage ...
    2007-10-18 09:36:00

  • Fitch Rates HSBC Home Equity Loan Trust (USA) (HELT) 2007-3

    Forbes - The mortgage pool consists of closed-end fixed- and declining-rate fully amortizing home equity loans with a cut-off date aggregate principal outstanding balance of $898,699,054. As of the cut-off date (Sept. 26, 2007), the weighted average loan rate ...
    2007-10-18 12:20:00

  • Triple Whammy Hits WaMu

    Street.Com - TheStreet.com Ratings reported in August that WaMu could face serious liquidity problems amid a sharp downturn in its bread-and-butter home mortgage business. The news comes as Bank of America ( BAC - Cramer's Take - Stockpickr ) reported weaker-than ...
    2007-10-18 12:06:00

  • Ariz. unemployment at 40-year low

    CNBC - PHOENIX (AP) - Woes in the home construction and mortgage industries grab the headlines, but a new report shows continued strength in Arizona's economy, with unemployment at a record low percentage rate in September. The Department of Economic ...
    2007-10-18 03:19:00

  • Higher interest rates hit home

    Financial Times - Homeowners are feeling the effect of higher interest rates according to figures that show mortgage lending fell 12 per cent last month. The Council for Mortgage Lenders said the monthly fall in gross lending to about £30bn was more than double the ...
    2007-10-18 02:44:00

  • North Dakota: State frees up mortgage money for post-tornado home ...

    CNBC - BISMARCK, N.D. - State money normally reserved for first-time North Dakota home buyers will be available to Northwood residents who want to replace their tornado-damaged homes, a housing official says. Michael Anderson, director of the North Dakota ...
    2007-10-18 11:02:00

  • As others fall, Vertical Lend cites growth

    Newsday - Many new hires, until recently employed by American Home Mortgage suddenly became available when that company went belly-up this summer. American Home's headquarters is just across Route 110 from Vertical Lend's space in the Huntington Quadrangle. ...
    2007-10-18 03:48:00

  • Court approves American Home Mortgage refund of loan fees

    Newsday - A bankruptcy judge has cleared the way for American Home Mortgage Investment Corp. to refund up to $650,000 in application fees and other mortgage costs it collected from more than 1,000 customers who never got their loans because of the company's ...
    2007-10-18 04:17:00

  • Local home sales plunge (San Jose Mercury News)

    Chart: September sales by county Wary buyers and a shaky mortgage market slammed the brakes on Bay Area home sales in September, with fewer homes of all types selling last month than during any September in the past two decades.
    2007-10-18 12:26:50

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