Mortgage and Financial News From 2007-9-11 Page 15

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• Dollar May Fall as $700 Billion of Debt Matures, Citigroup Says

  Bloomberg - Sept. 11 (Bloomberg) -- The dollar may weaken this week as banks and companies seek to refinance about $700 billion of ... Defaults on subprime home loans by borrowers in the U.S. have prompted investors to shun the notes because the collateral ...
  2007-09-11 07:21:00

• KMA Capital Partners, Inc. Announces Co-Sponsoring a Workout Plan for ...

  Forbes - KMAC) (KMA Capital) announced today that they would be the co-sponsor of a plan with management to reorganize and refinance IWT ... Inc., delivers premium porcelain, ceramic and natural stone tiles from around the world to floor covering dealers, home ...
  2007-09-11 09:58:00

• Consumers turn to plastic as home loans slow

  Reuters - With (home price appreciation) stagnating, borrowers have not had the opportunity to refinance as much as they had, or cash out for spending needs," said Joe Astorina, securitization analyst at Barclays Capital. "Growth in credit card receivables ...
  2007-09-11 10:34:00

• Most broker customers couldn't refinance: poll

  Reuters - Economists warn the housing slump could deepen if those homeowners are unable to refinance loans as lenders tighten underwriting guidelines and home values stagnate or fall. Lenders cut off credit to customers at an especially fast rate in August as ...
  2007-09-11 10:12:00

• Mortgage brokers say customers couldn't refinance (Reuters via Yahoo! News)

  Some 57 percent of mortgage broker customers with adjustable-rate loans were unable to refinance into a new loan to avoid higher monthly payments in August, a national survey reported on Tuesday.
  2007-09-11 07:35:58

• Prov Financial profit jumps as Vanquis losses drop

  MSN UK News - The move helped hold the cost of bad loans broadly steady for its home credit business at 107.4 million pounds. But it also benefited from ... Provident has seen its shares hit by negative sentiment linked to troubles in the U.S. subprime mortgage ...
  2007-09-11 02:13:00

• Barclays will benefit from credit market crisis, says Diamond

  Guardian Unlimited - ... bank's financial health has faced intense scrutiny amid the crisis in global credit ... reaction to the turbulence but stressed that Barclays' exposure to the US mortgage ... The bad news is if the consortium still wants to pay that price; if it's ...
  2007-09-10 06:42:00

• Flaherty's solution rebuked by Quebec

  Globe and Mail - ... at her federal counterpart Jim Flaherty yesterday for suggesting the August credit ... would have been able to give investors early warning of the subprime mortgage crisis. ... I find it very bad, in a way, to generate this kind of argument across the ...
  2007-09-11 03:46:00

• Web Advertising Weathers August Credit Storm

  MediaPost - The argument has been made that a recession would be bad for Web advertising, and it ... August, by the way, was the first month of the so-called mortgage crisis. So, asks Kafka, are Web analysts wrong about a credit crunch affecting Web spending?
  2007-09-11 07:42:00

• UPDATE 1-IPF shares surge after H1 profit rises 31 pct

  Reuters - or the cost of bad loans -- by almost 40 percent to just under 42 million pounds. Credit issued rose by 12.7 percent. "International Personal Finance has ... funding concerns and negative sentiment linking it to the troubled U.S. subprime mortgage ...
  2007-09-11 07:49:00

• New York Community: No Subprime Exposure

  MSN MoneyCentral - Numerous banks have reported credit losses this summer, after a spike in defaults among subprime borrowers left them holding either bad loans or mortgage-backed securities worth drastically less than previous book values. New York Community also said ...
  2007-09-11 06:59:00

• Valley mortgage delinquencies up (East Valley Tribune)

  The number of Arizona homeowners falling behind on mortgage payments continued to swing upward in recent months as tighter lending guidelines limited refinancing options.
  2007-09-11 12:36:28

• New York Community: No Subprime Exposure (AP via Yahoo! Finance)

  New York Community Bancorp Inc. said Tuesday it does not have any exposure to mortgage loans made to people with poor credit histories or undocumented income statements.
  2007-09-11 06:57:22

• Credit woes bad news for home borrowers (AAP via Yahoo!7 News)

  Global credit market turmoil are tipped to hit housing finance commitments in coming months, after worse than expected figures on new home loans were released.
  2007-09-10 12:50:12

• First British victim of credit crisis (Ireland Business World)

  A small specialist mortgage company has become the first casualty of the global credit crisis in Britain. A spokesman said: "This is a line-of-credit funding problem rather than an irresponsible lending problem.
  2007-09-10 11:00:29

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