Mortgage and Financial News From 2007-11-5 Page 6

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• UK credit card crunch looms, experts warn

  Daily Telegraph - Credit card companies have had a rough ride with bad debt so its no surprise that they are becoming stricter on who they'll lend money to. ... The news follows lending figures from the Bank of England last week, revealing that new mortgage ...
  2007-11-05 07:03:00

• Chancellor Calm Despite Credit Fear

  Ananova - ... had to be improved after the global credit crunch, he stressed that UK banks had strong balance sheets and the fundamental economic position was strong. ... in losses and write-downs over high-risk mortgage ...
  2007-11-05 04:28:00

• European Banking Stocks Tumble on Credit Concerns

  CNBC - ... billions of dollars on holdings in mortgage-backed securities, which have been hit by a rising tide of defaults in U.S. subprime mortgages -- loans extended to borrowers with patchy credit histories. Now investors wonder whether a string of bad third ...
  2007-11-05 05:15:00

• Interest Rates Defy Fed's Recent Cuts

  Wall Street Journal - Interest-rate cuts by the Federal Reserve are normally bad news for savers and ... Behind the discrepancies is continuing tightness in credit markets, where many ... average, in the same period, according to Keith Gumbinger, vice president of mortgage ...
  2007-11-05 05:47:00

• European Stocks Drop; SocGen, Credit Suisse, Sainsbury Decline

  Bloomberg - ... an additional $11 billion, raising concern financial companies face more credit ... It looks like there may be more bad news to come,'' said Simon Carter, who helps ... be ousted should the bank's losses from the collapse of the U.S. subprime mortgage ...
  2007-11-05 08:57:00

• US stocks slide amid credit fears

  BBC Business - ... that the current credit squeeze - triggered by banks' unwillingness to lend while they assess the size of potential sub-prime mortgage related losses - will hit growth in the global economy. Citigroup disclosed that its losses stemming from bad sub ...
  2007-11-05 08:50:00

• Budapest shares close down on new credit fears; OTP performs on bid ...

  Forbes - ... Financial) - Budapest shares closed down as global equities were hit by more bad ... sector, which saw the head of Citi Bank resign today after losses in the US mortgage ... The stock opened up after Credit Suisse published a bullish outlook on third ...
  2007-11-05 09:12:00

• Bloodbath expected to claim more victims

  MSN MoneyCentral - ... of dollars, their shares went up as investors assumed that the worst of the bad ... that it was writing down the value of securities exposed to the US subprime mortgage ... deteriorating fundamentals in US subprime and spillover impacts into other credit ...
  2007-11-05 03:02:00

• FTSE hit as Citi feels punch of credit crunch

  Reuters - ... on news Citigroup could write off a further $11 billion of subprime mortgage market ... lost 2 percent last week as fears resurfaced over the impact of the recent credit ... have any more write-downs after this," he added. "(They have got) all the bad ...
  2007-11-05 12:39:00

• 45,000 homes set to be repossessed

  Scotsman - The "credit crunch", bringing with it a sharp withdrawal of special mortgage deals, has already triggered a big fall in mortgage approvals, from 108,000 in August to 102,000 in September, the lowest since July 2005. This is set to bring average house ...
  2007-11-05 07:20:00

• Euro stocks fall on credit turmoil

  News.com.au - ... Citigroup's warning of loan losses sparked fresh worries over the impact of credit ... More bad news? "Things could get worse in our view," Jonathan Pierce, analyst at ... worldwide have taken charges totalling billions of dollars on holdings in mortgage ...
  2007-11-05 02:19:00

• Credit card users hurt by squeeze

  Times Online - Reposessions are set to rise by 50 per cent next year, according to the Council of Mortgage Lenders. Thousands of ... It is understandable that credit card companies are doing this, in light of the credit crunch and bad debt figures, but it couldn ...
  2007-11-05 04:57:00

• Stocks Fall on Housing, Credit Worries

  Allentown Morning Call - Citi's expected losses came on top of the $6.5 billion in asset markdowns and other credit-related losses the company ... Meanwhile, a central banker's warning Monday that the subprime mortgage market will likely deteriorate further added to the ...
  2007-11-05 02:34:00

• FAQ Credit crisis: More sub-prime bad news

  Guardian Unlimited - Mortgage brokers in the US went on a frenzy of lending to almost anyone who wanted a home loan, including many people on benefits, without a job or with other debts. Fraudsters also spotted an opportunity in this unregulated market to sign up for a ...
  2007-11-05 03:24:00

• European Stocks Drop; SocGen, Credit Suisse, Sainsbury Decline (Bloomberg.com)

  Nov. 5 (Bloomberg) -- European stocks fell for a third day after Citigroup Inc. said it may write down an additional $11 billion, raising concern financial companies face more credit- market losses.
  2007-11-05 08:58:58

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