Mortgage and Financial News From 2007-11-13 Page 14

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• E-Loan to cut 400 jobs in East Bay

  Silicon Valley - In October alone, three mortgage companies eliminated 325 jobs. One of those, Diablo Funding Group, ceased operations. This month, failures in home equity loans forced Concord-based Cal State 9 credit union into a state-ordered conservatorship. "E ...
  2007-11-13 12:12:00

• U.S. Stocks Rally Most in Two Months; Banks, Wal-Mart Advance

  Bloomberg - Such assets, which include private-equity investments, leveraged loans and mortgage- related securities, trade so infrequently that companies use internal models to gauge their value. Other banks and brokerages also rallied. Lehman ...
  2007-11-13 02:17:00

• Pleasanton-based E-Loan to cut 410 jobs

  San Diego Union-Tribune - Those people losing their jobs have been given 60 days notice. The cuts at E-Loan come after three other mortgage companies in the area cut more than 300 jobs in October. One of those firms, Diablo Funding Group, ceased operations. E-Loan is a ...
  2007-11-13 05:06:00

• Rising oil prices hit holiday fliers

  CNN Money - feed://rss.cnn.com/rss/money_news_companies.rss ... have been concerns that consumers have been cutting back some big-ticket purchases due to problems in housing and mortgage ...
  2007-11-13 11:04:00

• BofA $3B Writedown Adds to Credit Angst

  Forbes - So far, at least six companies have said they expect mortgage-related writedowns in the fourth quarter, totaling nearly $23 billion - including a writedown of up to $6 billion at Morgan Stanley. More announcements are expected, since more than a ...
  2007-11-13 01:49:00

• Fortress says not exposed to credit market problems

  Reuters - Last: BOSTON, Nov 13 (Reuters) - Hedge fund and private equity group Fortress Investments LLC (FIG.N: Quote , Profile , Research ) said on Tuesday it is not facing losses from mortgage-related securities like many other financial companies. "We have ...
  2007-11-13 10:14:00

• Wall St. CEOs: More credit worries

  CNN Money - feed://rss.cnn.com/rss/money_news_companies.rss ... Offering perhaps the bleakest outlook was BlackRock ( Charts ) Chief Executive Laurence Fink, who warned that more mortgage ...
  2007-11-13 02:17:00

• Mortgage insurer stocks soar after Third Avenue discloses 19% stake in ...

  Forbes - We] believe other investors may also now seek to take advantage of the current extraordinarily depressed valuations that have resulted from the market's panic about declining home prices and mortgage market turmoil,' he said. 'Even if the companies ...
  2007-11-13 01:27:00

• Lender Lures Homebuyers by Attacking Industry

  NPR News - Morning Edition , November 13, 2007 · Mortgage companies are working hard to sell home loans despite the industry's turmoil. They're sending out junk-mail and buying ads for television, radio and the Internet. But one company in Atlanta is taking an ...
  2007-11-13 08:55:00

• S&P reports mortgage turmoil to worsen in 2008

  CNN Money - The financial institutions most affected by the credit repricing and market turbulence have been specialty mortgage finance companies, mortgage concentrated franchises - either in lending or capital markets - and lenders that rely heavily on ...
  2007-11-13 02:31:00

• First American Mortgage Information Services Group Awarded Best Regional Corporate Diversity Program by the Mortgage ... (PR Newswire via Yahoo! Finance)

  The First American Corporation , America's largest provider of business information, today announced that its Mortgage Information Services Group's diversity program has been selected as the Mortgage Bankers Association's 2007 Best Overall Regional Corporate Diversity Program.
  2007-11-13 05:32:00

• Countrywide mortgage loans drop 48 percent in October (EARTHtimes.org)

  NEW YORK (Reuters) - Countrywide Financial Corp , the largest U.S. mortgage lender, on Tuesday said it funded 48 percent fewer mortgages in October than a year earlier, and significantly reduced some of the riskier home loans that prompted its recent financial troubles.
  2007-11-13 05:40:39

• Bank of America takes $3B mortgage charge (Toronto Star)

  CHARLOTTE, N.C. – Bank of America Corp., the nation's second biggest bank, said Tuesday it will take a $3 billion debt-related writedown in the fourth quarter in more fallout from the housing and mortgage-lending slump.
  2007-11-13 09:05:31

• US Mortgage Bank Earnings Will Be Hit In 2008 -S&P (Nasdaq)

  NEW YORK -(Dow Jones)- The chaos in the mortgage markets is only going to get worse and put a dent in U.S. mortgage bank earnings, according to a report released Tuesday by Standard & Poor's.
  2007-11-13 09:39:59

• S&P: Mortgage Banks to Be Hit Next Year (AP via Yahoo! Finance)

  The chaos in the mortgage markets is only going to get worse in 2008 and will put a dent in U.S. mortgage bank earnings, according to a report released Tuesday by Standard & Poor's.
  2007-11-13 12:36:05

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