Mortgage and Financial News From 2007-11-5 Page 7

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• U.S. stocks slide as Citi-inspired credit jitters surface (Market Watch)

  NEW YORK (MarketWatch) -- Wall Street stocks lost ground Monday after Citigroup Inc. amplified worries about the extent of the credit crisis by saying it might have to write off $11 billion more in losses.
  2007-11-05 09:04:16

• Poll Shows America Does Not Support Federal Intervention in Sub-Prime Mortgages: FreedomWorks poll shows 62 percent ... (PRWeb)

  National headlines are dominated with stories about the housing market slowdown and growing defaults on subprime mortgages, which were often extended to people with bad credit. Believing that market problems need government solutions, Congress is debating federal intervention into the mortgage market. (PRWeb Nov 5, 2007) Post Comment:Trackback URL: ...
  2007-11-05 02:49:42

• Citigroup Chief Quits After Big Mortgage-linked Losses (HispanicBusiness.com)

  Former Citigroup CEO Charles Prince. (By Agência Brasil) NEW YORK -- Charles Prince, the chairman and chief executive of Citigroup Inc., resigned Sunday amid billions of dollars in losses from bad investments in mortgage-related debt.
  2007-11-05 07:11:26

• Credit fears keep stocks in the red (CNN Money)

  Major gauges remained lower Monday morning as Citigroup's warning that it could suffer billions more in mortgage-related losses fanned credit market fears on Wall Street.
  2007-11-05 07:41:40

• Anthony Hilton: Will we catch the sub-prime cold?

  This is Money - There is less money for mortgages so people can't afford to pay the current high house prices, and sellers have to take a hit ... It will slow, of course, but not come to a halt, and certainly not go into reverse. The important thing is not to panic. We ...
  2007-11-05 04:47:00

• Rate cuts designed to reduce economic risks, Fed governor says

  Marketwatch - ... investors, susceptible to tens of billions of dollars in losses from bad investments in securities linked to risky mortgages ... bank has gone too far and that lower rates could fuel inflation, so policymakers need to be flexible enough to reverse ...
  2007-11-05 09:05:00

• Pathfinder Bancorp, Inc. Announces Third Quarter Earnings

  Market Wire - These developments create a more profitable operating environment for the Bank and should reverse the adverse impact of rate ... One is that the Bank did not participate in the type of mortgages that have led to the problem, and two, our market did not ...
  2007-11-05 12:46:00

• Fed must be ready to take back cuts: Fed's Mishkin

  CNBC - NEW YORK (Reuters) - The Federal Reserve should be ready to reverse two interest rate cuts if the U.S. economy escapes ... types of loans in the past three months, taking a particularly cautious view of prime and "nontraditional" home mortgages. ...
  2007-11-05 01:29:00

• Business Events

  Herald Tribune - A team of professionals will discuss long-term care, life and health insurance, health savings accounts, annuities, divorce planning and recovery, reverse mortgages and financial planning. Paul DeClark, 504-9525, or 792-5511. The Professional Network ...
  2007-11-05 01:58:00

• Top Five Ways To Get Ripped Off With A Reverse Mortgage

  Best Syndication - When it comes to reverse mortgages there have been a lot of improvements in recent years. That said, if you're thinking of getting a reverse mortgage you must be aware that it's possible to be ripped off and lose some or all of the equity earned over ...
  2007-11-05 10:59:00

• Reuters Business Summary (Reuters via Yahoo! Singapore News)

  Google enters mobile phone market
  2007-11-05 06:38:49

• Real Estate: Seven Smart Strategies (BusinessWeek Online via Yahoo! News)

  For millions of Americans approaching retirement, a big part of their fortune is tied up in something they might never want to sell: their homes.
  2007-11-05 05:08:41

• Business Briefs: Nov. 5, 2007 (The Record Searchlight)

  • Win-River donates $3,600 to Help Inc. • R.B. Best Western wins best of the best • Reverse Mortgage class held at Redding Library • DRBA will host monthly meeting • People in business
  2007-11-05 06:10:35

• Fed must be ready to take back cuts: Fed's Mishkin (Reuters via Yahoo! News)

  The Federal Reserve should be ready to reverse two interest rate cuts if the U.S. economy escapes major damage from recent market turmoil, but recovery is a way off for housing and subprime mortgage markets, Fed officials said on Monday.
  2007-11-05 01:35:03

• Reverse mortgage scheme for senior citizens takes shape (Indian Express Finance via Yahoo! India News)

  Launching an exclusive product for the senior citizens, banks here are promoting the reverse mortgage loan scheme for their benefit. While the Punjab National Bank (PNB) introduced this scheme in the market as PNB Baagbaan on April 13, the number of enquiries has increased tremendously over this time period. Toeing the same line, the State Bank of India (SBI) has also geared up by launching SBI ...
  2007-11-05 02:38:28

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