Mortgage and Financial News From 2008-1-16 Page 69

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  • Nearly $10 billion loss Citigroup's worst

    Chicago Tribune - NEW YORK—Citigroup Inc. on Tuesday posted the biggest loss in its 196-year history as surging defaults on home loans forced it to write down the value of subprime-mortgage investments by $18 billion. The nation's biggest bank also reduced its ...
    2008-01-16 01:56:00

  • Lower rates fail to reverse slump in home sales

    Orlando Sentinel - Mortgage-interest rates for folks with good credit are now below 6 percent, the cheapest home-buying money in two years. Yet buyers are not beating down lenders' doors. And even if a home buyer does ask for one of those low, 30-year, fixed-rate loans ...
    2008-01-16 05:23:00

  • IndyMac Laying Off 2,403 Employees

    Seattle Times - Mortgage lender IndyMac Bancorp Inc. said Tuesday it will slash its work force by 24 percent, laying off 2,403 employees in a bid to cut costs as it tries to weather the worsening housing slump and problems selling home loans to investors. The job ...
    2008-01-16 03:21:00

  • JPMorgan Fourth-Quarter Earnings Fall, Miss Estimates (Update1)

    Bloomberg - Jan. 16 (Bloomberg) -- JPMorgan Chase & Co., the third- biggest U.S. bank, said profit fell 34 percent, more than analysts estimated, after $1.3 billion of writedowns for subprime-mortgage investments. Fourth-quarter net income declined to $2.97 ...
    2008-01-16 04:40:00

  • Jackson joins fray over foreclosures

    Baltimore Sun - Jesse Jackson and City Council President Stephanie Rawlings-Blake discuss mortgage issues facing city residents, including ... Your Dream Home Have you found your ideal home? Share photos with other readers.
    2008-01-16 04:47:00

  • European Stocks Fall; STMicroelectronics, BHP, HBOS Decline

    Bloomberg - HBOS Plc, the U.K.'s largest mortgage lender, retreated after real-estate professionals said December was the worst month for the nation's housing market since 1992. Prudential Plc and Aviva Plc fell as Bear Stearns Cos. downgraded the insurers ...
    2008-01-16 05:30:00

  • U.S. Stock-Index Futures Fall; Intel, Exxon Shares Retreat

    Bloomberg - Net income declined 34 percent, more than analysts projected, to $2.97 billion, or 86 cents a share, after $1.3 billion of writedowns for subprime mortgage investments. Wells Fargo & Co. decreased 12 cents to $26.37 in Germany. The second ...
    2008-01-16 05:37:00

  • JPMorgan Profit Falls Amid $1.3 Billion Writedown

    CNBC - The bank quadrupled to $1.1 billion the provision it needs to cover continued problems on home equity and subprime mortgage loans. "We remain extremely cautious as we enter 2008," JPMorgan Chief Executive Jamie Dimon said in a statement. He said a ...
    2008-01-16 05:37:00

  • Wells Fargo Reports Record Annual Revenue With Double-Digit Revenue ...

    MSN MoneyCentral - Many of our businesses continued to post double-digit, year-over-year revenue growth, including business direct, wealth management, credit and debit card, global remittance services, personal credit management, home mortgage, asset-based lending ...
    2008-01-16 05:02:00

  • Regional home prices, sales sink

    San Diego Union-Tribune - Berson, chief economist at PMI Mortgage Insurance, blamed the fevered market that saw many home values here double during the first half of the decade. “Prices got so out of line with fundamentals that it will take a while for prices to get back ...
    2008-01-16 01:05:00

  • US Home Loan Demand Surges to Near Four-Year High

    CNBC - U.S. mortgage applications surged last week, with demand hitting its highest in nearly four years as interest rates plunged, an industry group said Wednesday. David J. Phillip A foreclosed home for sale. The Mortgage Bankers Association said its ...
    2008-01-16 03:57:00

  • Group to report home-loan volume as turbulent climate drags on ...

    CNBC - WASHINGTON - Home-loan data to be released Wednesday will show whether borrowers continued to take advantage of lower rates to refinance their mortgages. The Mortgage Bankers Association will report its index of home-loan application volume at 7 a.m ...
    2008-01-16 03:29:00

  • Demand for equity release soars - MyFinances.co.uk

    Demand for equity release soarsMyFinances.co.uk, UK - 34 minutes agoThe UK equity release market boomed in 2007 experiencing a nine per cent rise in demand for the mortgage deals popular with retirees. ...
    2008-01-16 05:26:26

  • Post Office cuts mortgage rates - MyFinances.co.uk

    Post Office cuts mortgage ratesMyFinances.co.uk, UK - 33 minutes agoThe three-year fixed-rate deal has an arrangement fee of £399, a lending fee of £195 and can be taken out on up to 95 per cent of the home's value. ...
    2008-01-16 05:26:44

  • Saratoga approved second bond issue, saved money with split - Morris Daily Herald

    Saratoga approved second bond issue, saved money with splitMorris Daily Herald, IL - 26 minutes agoIn the interim, the sub-prime mortgage problem was going on, but it didn't hit their insurer, he said. “We lucked out with that one,” he said. ...
    2008-01-16 05:33:48

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