Mortgage and Financial News From 2007-11-13 Page 5

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  • Your Beach House Is Waiting. Bring Cash.

    CNN Money - What's more, forget raiding the equity in your first home to get the cash for your second one. Even with rates on second-home mortgages about a percentage point higher than those on first-home loans, that's still less than the punishing 8.2 percent ...
    2007-11-13 08:48:00

  • Illegal residents pass up mortgages

    Chicago Tribune - With all things equal, I would say our portfolio of ITIN [mortgages] is performing at least as good, if not better than our general market," said Mark Doyle, president of Second Federal Savings and Loan in the Little Village neighborhood, a ...
    2007-11-13 06:10:00

  • Rally relieves the siege of E-Trade

    MSN MoneyCentral - E-Trade's latest troubles began on Friday when the brokerage said it faced "continued declines" in the value of its $3bn asset-backed securities portfolio, mostly from collateralised debt obligations and securities backed by second-lien mortgages. E ...
    2007-11-13 01:41:00

  • Australian Dollar Rises for Second Day as U.S. Stocks Advance

    Bloomberg - Australian Dollar Rises for Second Day as U.S. Stocks Advance By David McIntyre Nov. 14 (Bloomberg) -- The Australian dollar ... so-called carry trades after Goldman Sachs Group Inc. said it doesn't plan any significant writedowns on subprime mortgages ...
    2007-11-13 02:31:00

  • Bank of America Sees $3 Billion Write-Off, CFO Says (Update3)

    Bloomberg - Nov. 13 (Bloomberg) -- Bank of America Corp., the nation's second-largest bank, may need to write down $3 billion in debt securities in the fourth quarter that have lost value because of defaults on subprime mortgages. Shares gained the most in ...
    2007-11-13 03:29:00

  • HSBC's U.S. Bad Debts Probably Rose in Third Quarter (Update1)

    Bloomberg - About $5 billion of the company's adjustable-rate mortgages will reset with higher interest rates in the second half, less than the $8 billion previously projected, Finance Director Douglas Flint said July 30, when the bank reported first-half results
    2007-11-13 03:14:00

  • Bank of America to take $3bn hit on mortgages

    Times Online - The second-biggest bank in the United States also said that it was injecting $600 million into a structured investment vehicle (SIV), an affiliated entity with a large exposure to high-risk sub-prime mortgages. Joseph Price, the chief financial ...
    2007-11-13 06:06:00

  • Bank of America sees $3 billion debt write-down (Reuters via Yahoo! News)

    Bank of America Corp , the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter as fallout from the nation's housing slump deepens.
    2007-11-13 03:23:49

  • Bank of America to writedown 3 billion dollars (EARTHtimes.org)

    New York - Bank of America, the second-largest US financial institution, said Tuesday it will have to writedown about 3 billion dollars in debt securities related to sub-prime mortgages in the fourth quarter. If market conditions should deteriorate f...
    2007-11-13 09:41:20

  • Bank of America to cushion its money market funds (USA Today)

    Bank of America, the nation's second biggest bank, said Tuesday it will take a $3 billion debt-related write-down in the fourth quarter in more fallout from the housing and mortgage-lending slump.
    2007-11-13 08:15:16

  • Bank of America Projects $3 Billion Write Off, CFO Price Says (Bloomberg.com)

    Nov. 13 (Bloomberg) -- Bank of America Corp., the nation's second-largest bank, said it will need to write down $3 billion in debt securities in the fourth quarter that have lost value because of defaults on subprime mortgages.
    2007-11-13 08:57:46

  • Bank of America Sees $3 Billion Write-Off, CFO Says (Update3) (Bloomberg.com)

    Nov. 13 (Bloomberg) -- Bank of America Corp., the nation's second-largest bank, may need to write down $3 billion in debt securities in the fourth quarter that have lost value because of defaults on subprime mortgages.
    2007-11-13 03:42:41

  • Australian Dollar Rises for Second Day as U.S. Stocks Advance (Bloomberg.com)

    Nov. 14 (Bloomberg) -- The Australian dollar advanced for a second day as a rally in U.S. stocks encouraged investors to buy higher-yielding assets bought with money borrowed in Japan.
    2007-11-13 02:45:06

  • Should we save or pay off our mortgage?

    Guardian Unlimited - We have £64,000 savings earning £250 a month interest, as well as two £3,000 Isas. Our mortgage costs £330 a month and we have 15 years ... You are paying out £330 a month on the £32,000 mortgage, but are only earning £125 a month on that £32,000 ...
    2007-11-13 03:26:00

  • Perimeter shakes Canadian ABCP sector

    Financial Times - ... markets frozen by uncertainty related to the meltdown in the US subprime mortgage ... is co-ordinating Perimeter’s ABCP initiative, said he had had “lots of interest ... personal risk of buying at 30 cents in the dollar and discovering it’s only ...
    2007-11-13 06:42:00

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