Mortgage and Financial News From 2007-8-21 Page 16

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  • CAPITAL ONE AX FALLS ON LOAN UNIT

    New York Post - They said, 'Let's just cut our losses now and get out,' " said Thomas Brown, chief executive at Second Curve Capital LLC in ... on "Alt-A" lending, an alternative for people with good credit records who don't meet the standards for prime mortgages ...
    2007-08-21 07:58:00

  • Yen Gains as Higher Volatility Diminishes Appeal of Carry Trade

    Bloomberg - The pound fell against the dollar and euro on concern the credit-market crisis is spreading to the U.K., Europe's second- biggest economy. The currency fell versus 12 of the 16 most-traded currencies after the Daily Telegraph newspaper ...
    2007-08-21 08:41:00

  • Fitch Takes Various Rating Actions on 7 Chase Subprime Securitizations

    Forbes - The collateral consists of fixed- and adjustable-rate subprime mortgage loans and is secured by first and second lien mortgages or deeds of trust on residential properties. Chase Home Finance, LLC, rated 'RPS1' by Fitch, is the servicer for all of ...
    2007-08-20 06:00:00

  • Stocks Mixed as Some Investors Reason: No News Is Good News

    The Ledger - ... YORK | Stocks closed mostly higher Monday as investors appeared relieved that little bad news emerged about risky mortgages ... Lowe's Cos., the No. 2 U.S. home improvement chain, reported a second-quarter profit that surpassed Wall Street projections ...
    2007-08-21 09:52:00

  • Applicants sought to rehab homes in low-income areas

    Quad-Cities Times - In the program, the city and lending institutions create a pool of money used to provide forgivable second mortgages that must be used primarily for rehabilitation. The council has budgeted $300,000 for year one, with the modest goal of granting 20 ...
    2007-08-21 05:13:00

  • Rescue deal to force sale of SachsenLB - sources

    Reuters - FRANKFURT, Aug 20 (Reuters) - SachsenLB, the second German bank to be hit by difficulties stemming from the U.S. subprime mortgages crisis, must be sold as part of a state-led rescue deal, sources familiar with the matter said on Monday. Late last ...
    2007-08-20 07:12:00

  • Insurer Hiscox stays cool as hurricanes wreak havoc

    Guardian Unlimited - The outlook remained rosy, it said, despite estimates that floods in Britain in July would cost it £20m in the second half. Investment income was up to £48m and it said it had almost no exposure to the US sub-prime mortgages debacle which has cost ...
    2007-08-21 07:43:00

  • Persimmon First-Half Profit Rises 9.8% After Purchase (Update3)

    Bloomberg - Aug. 21 (Bloomberg) -- Persimmon Plc, Britain's second- biggest homebuilder by market value, said first-half profit increased 9.8 percent after the purchase of Westbury Plc helped it negotiate better terms with material suppliers. Net income rose to ...
    2007-08-21 10:06:00

  • Yen's Decline May Stall at About 115.50, MUFG's Hashimoto Says

    Bloomberg - A cloud, used to indicate a resistance zone where sell orders may be clustered, is the area between the first and second leading span lines. The first leading span line is the sum of the base and conversion lines divided by two and then ...
    2007-08-21 07:15:00

  • Pleasanton gets affordable-housing grant

    MSN MoneyCentral - The city will pool the funds with other available housing funds to assist people in buying homes through low-interest second mortgages. Home buyers also will receive financial training and debt counseling prior to the close of escrow. CalHFA's HELP ...
    2007-08-20 06:14:00

  • Most Asian shares rally for second day

    Marketwatch - HONG KONG (MarketWatch) -- Most Asian indexes continued to rally for a second day on Tuesday after overnight advances on Wall Street, with Japanese shares extending gains on exporters such as Canon Inc. and Sony Corp. as the yen weakened against the ...
    2007-08-21 08:12:00

  • Capital One to Close Its GreenPoint Unit

    Wall Street Journal - Capital One said it could have sold those $680 million in second mortgages at a loss but decided to keep them. GreenPoint was a pioneer in so-called no-documentation and low-documentation mortgages in the 1990s, making its demise a watershed moment ...
    2007-08-21 02:35:00

  • Japan's Five-Year Notes Fall as Stock Gain Cuts Demand for Debt (Bloomberg.com)

    Aug. 21 (Bloomberg) -- Japanese five-year notes fell for a second day on speculation a recovery in global stocks will reduce demand for the relative safety of government debt.
    2007-08-21 03:05:07

  • Lowe's: Housing woes easing in some markets (CNN Money)

    No. 2 home improvement chain Lowe's on Monday posted second-quarter profits and sales that topped Wall Street forecasts as investors also cheered news that the retailer's business was picking up in some key markets despite the ongoing housing downturn.
    2007-08-20 03:31:29

  • Stocks waver, investors more confident (AP via Yahoo! News)

    Stocks fluctuated Monday as investors appeared relieved that more bad news didn't emerge about risky mortgages and tightening in the credit markets. The major indexes alternated between gains and losses.
    2007-08-20 07:53:24

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