Mortgage and Financial News From 2007-9-20
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Bear Stearns net tumbles 61 percent
Boston Globe - ... Cos Inc said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad ... They were definitely hurt by the mortgage problems and credit markets," said Meg McMullen, president of Boston's New England Research ...
2007-09-20 07:10:00 -
UPDATE 4-Bear Stearns net falls 61 pct, but says worst over
Reuters - ... Cos Inc (BSC.N: Quote , Profile , Research ) posted a 61 percent drop in quarterly profit on Thursday on bad bets ... They were definitely hurt by the mortgage problems and credit markets," said Meg McMullen, president of Boston's New England Research ...
2007-09-20 09:12:00 -
Bear Stearns earnings fall
MSNBC - ... debt market and wrong-way bets on mortgages crunched the investment bank’s credit ... Bear’s core strength had been in these securities that went bad, and no one ... Bear said the fixed income segment collected less from its mortgage business, while ...
2007-09-20 07:03:00 -
Column: Faltering economy is not news
Tribune-Star - Lending agencies lured people with bad or no credit into a mortgage with the siren song of low interest rates and preying on their dreams of owning a home. Hidden in the small print was the adjustable rate clause that starry-eyed, first-time ...
2007-09-20 08:22:00 -
Benchmark Credit Swap Index Falls as Riskiest Debt Dropped
Bloomberg - Benchmark Credit Swap Index Falls as Riskiest Debt Dropped By Shannon D. Harrington ... Series 8 of the index, which is considered riskier because it includes mortgage ... Cos., manager of two hedge funds that collapsed earlier this year because of bad ...
2007-09-20 06:27:00 -
Bad news, Bear: profit sinks 61%
CNN Money - A general re-pricing of risk in the market led to significant reductions in both mortgage and credit-related revenues as volumes ... this week to see how they've fared during the tumultuous summer, keeping a particular focus on their exposure to bad ...
2007-09-20 08:36:00 -
Fed sees more mortgage defaults, BoE fights back
Reuters - Bernanke, discussing the high-risk subprime mortgage debt that triggered the global credit squeeze, said the Fed was committed to preventing new ... quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages ...
2007-09-20 09:12:00 -
Bernanke to Hill: Credit Crisis Created 'Significant Market Stress'
FOX News - ... Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. ... will take steps to crack down on abusive or bad ...
2007-09-20 09:33:00 -
SEC Details Look at Mortgage Market Woes
CNBC - ... June, two hedge funds at Bear Stearns Cos. nearly collapsed after making bad bets in CBOs, especially those that include subprime loans made to borrowers with tarnished credit. _ major Wall Street investment banks and their vulnerability to mortgage ...
2007-09-20 09:33:00 -
Late Mortgage Payments Continue to Climb (WallStreet Journal via Yahoo! Finance)
Mortgage delinquencies jumped again in August, according to new data from Equifax and Moody's Economy.com. The data provide the first big-picture look at how the credit crunch is hitting homeowners.
2007-09-19 09:07:30 -
Bernanke Assures Hill on Mortgage Hit (AP via Yahoo! Malaysia News)
Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. Bernanke made the statement in testimony before the House Financial Services Committee. It came just two days after the Federal Reserve sliced a key interest ...
2007-09-20 09:20:00 -
Bernanke Assures Hill on Mortgage Hit (San Francisco Chronicle)
Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess. Bernanke made the...
2007-09-20 08:17:42 -
Fed Chairman Bernanke offers Congress assurances on mortgage crisis (Los Angeles Times)
Federal Reserve Chairman Ben Bernanke told Congress today that the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess.
2007-09-20 09:29:00 -
SEC Details Look at Mortgage Market Woes (AP via Yahoo! Finance)
The government is casting a wide net in its scrutiny of Wall Street banks, investors, credit-rating agencies and others and the role they played in the subprime mortgage crisis.
2007-09-20 09:42:43 -
Soaring bad debt hits US mortgage lender Countrywide (Times Online)
Shares in Countrywide Financial, America's biggest independent mortgage bank, took a knock today after it revealed first quarter profits had fallen a worse-than-expected 37 per cent.
2007-09-20 03:34:34