Mortgage and Financial News From 2007-12-26 Page 3

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  • Wall Street’s leading bear says Merrill Lynch losses will keep ...

    Times Online - ... third quarter, the bank wrote off nearly $8 billion of bad investments that it had made in bonds backed by sub-prime mortgages ... Forbes’s second-highest-ranked stockpicker, Ms Whitney received several death threats from Citigroup investors after her ...
    2007-12-26 02:59:00

  • Davis Advisers Boosts Stake in MBIA; Shares Rise 11% (Update2)

    Bloomberg - ... top credit ratings, which may be lowered because of downgrades of securities it guarantees that are tied to subprime mortgages ... Ambac Financial Group Inc., the second-largest bond insurer, climbed $3.46, or 13 percent, to $30.14. The ...
    2007-12-26 02:16:00

  • Davis Selected investing in MBIA

    Boston Globe - ... delinquencies and defaults on consumer loans and mortgages have increased, fears that asset-backed securities -- pools of various types of loans packaged together and sold to investors -- will default has risen. The investment in MBIA is the second ...
    2007-12-26 12:07:00

  • Asia Day Ahead: U.S. Metropolitan-Area Home Prices Drop

    Bloomberg - Billionaire investor Joseph Lewis raised his stake in Bear Stearns Cos. for the second time this month while shares of the ... yields touched a three-year low this month as investors sought the safety of government debt amid losses in subprime mortgages
    2007-12-26 03:56:00

  • Sales surge masks growing gloom over New Year slump

    Guardian Unlimited - Council tax bills, utility bills and mortgages are going up. Sales will be slower." Analysts said retailers were having to ... Retailers are eager to clear their shelves earlier than normal because after the second week of January, they feel the ...
    2007-12-26 05:15:00

  • Australian Dollar Rises as Treasury Decline Spurs Carry Trades

    Bloomberg - The Australian dollar advanced for the second day to 87.45 U.S. cents as of 10:49 a.m. in Sydney from 87.25 cents late in ... caused global financial institution to report losses of more than $80 billion on securities linked to U.S. subprime mortgages ...
    2007-12-26 03:56:00

  • Wachovia Corporation at Goldman Sachs Financial Services Conference ...

    Insurance News Net - And of that, only $31 billion would be second liens. The reason for that is the way we originate our second mortgages is through our branch network. And so, we didn't go out and buy broker-produced second mortgages, nor did we get them through ...
    2007-12-26 09:59:00

  • Insurance coverage for autism is goal of Palm Beach County ...

    Fort Lauderdale Sun-Sentinel - Many take out second mortgages to pay for the treatments and end up in debt and divorce, according to autism advocates. Seventeen states mandate some level of autism coverage, although New York-based Autism Speaks, an advocacy organization, says only ...
    2007-12-26 02:45:00

  • Market Spotlight: Home-Equity Lenders

    Forbes - At the same time, some of the banks that lent money to these homeowners are sustaining big losses as missed payments on second mortgages swell. Wells Fargo & Co., for example, expects its profit in the fourth quarter to be dented by $1.4 billion ...
    2007-12-26 01:55:00

  • Asia Day Ahead: U.S. Metropolitan-Area Home Prices Drop (Bloomberg.com)

    Dec. 27 (Bloomberg) -- Home prices in 20 U.S. metropolitan areas fell in October by the most in at least six years, raising the risk that more Americans will walk away from properties that are worth less than they owe.
    2007-12-26 02:36:11

  • Market Spotlight: Home-Equity Lenders (AP via Yahoo! Finance)

    Home-equity loans -- which for five years were a crucial pillar of consumer credit -- have become one of the biggest problems for U.S. banks this year.
    2007-12-26 12:51:28

  • Accor, Air France, ING Groep, UBS: European Equity Preview (Bloomberg.com)

    Dec. 26 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Europe. Stock symbols are in parentheses after company names and prices are from the last close.
    2007-12-26 06:09:37

  • Australian Dollar Rises as Treasury Decline Spurs Carry Trades (Bloomberg.com)

    Dec. 27 (Bloomberg) -- The Australian dollar rose to the highest in almost two weeks as a decline in U.S. Treasuries encouraged traders to buy more higher-yielding assets with money borrowed in Japan.
    2007-12-26 05:30:03

  • Treasuries Rise for 1st Time in 5 Days Before Confidence Report (Bloomberg.com)

    Dec. 27 (Bloomberg) -- Treasuries rose for the first time in five days before a private report that economists said will show consumer confidence fell to a two-year low this month.
    2007-12-26 07:42:41

  • Root Out Bad Debt or More Pain Will Follow (Foreign Relations)

    The devastating credit squeeze that has been gumming up the interbank and commercial paper loan markets for months shows few signs of letting up. The underlying problem remains firmly in the market for subprime mortgages.
    2007-12-26 02:27:16

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