Mortgage and Financial News From 2007-8-27 Page 2

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  • Capital One slashes 1,900 jobs, closes wholesale mortgage unit (The Record)

    Capital One Financial Corp. on Monday said it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle in the nation's housing and mortgage markets.
    2007-08-27 07:50:04

  • Wall Street banks shed mortgage lending units (The Charlotte Observer)

    For the mortgage industry, Wall Street's big investment banks might seem like one of those friends who disappear when the going gets tough. It wasn't that long ago that the investment houses, looking for ways to cash in on the then-booming housing industry, were buying mortgage lenders at a frenetic pace. The story now is quite different. This past week, 1,200 people lost their jobs after Lehman ...
    2007-08-27 10:08:44

  • Two Ways the Mortgage Mess May Play Out (US News & World Report)

    How much worse can things get in the housing market? With mortgage lenders folding, home builders bleeding red ink, and foreclosures filling the "public notice" section, the answer might seem as ominous as the "price reduced" placards that increasingly top the for-sale signs now littering America's lawns.
    2007-08-27 02:16:18

  • Emerging markets resistant to U.S. turmoil, lenders say (Reuters via Yahoo! Singapore News)

    WASHINGTON, Aug 27 - Emerging-market economies have resisted the turmoil in U.S. subprime mortgage markets so far but could still feel a dampening impact on lending from the U.S. experience, a lenders' group said on Monday.
    2007-08-27 09:28:26

  • Subprime Loans: Buyer Beware

    Forbes - In addition to having higher interest rates than prime-rate loans, subprime loans often come with higher fees. And, unlike prime-rate loans, which are quite similar from lender to lender, subprime loans vary greatly. A process known as risk-based ...
    2007-08-27 09:34:00

  • Faith community seeks interest rate cap on payday lenders

    Southwest Times - RICHMOND, Va. (AP) — Calling it ‘‘a moral stand, not a political campaign,’’ the faith community Thursday called on legislators to support a 36 percent annual interest rate cap on payday lenders. The ‘‘Faithful Pledge’’ campaign ...
    2007-08-27 01:13:00

  • Dollar Edges Higher Against the Euro

    Washington Post - FRANKFURT, Germany -- The dollar edged higher against the euro Monday as markets looked to European Central Bank President Jean-Claude Trichet for new hints on the bank's interest rate plans. The 13-nation euro drifted down to $1.3663, compared with ...
    2007-08-27 03:00:00

  • Home buyers still confident despite interest rate fears

    Belfast Telegraph - New research has found that first-time buyers and people trading up in the property market are confident of acquiring their dream home, despite concerns about rising interest rates. More than three-quarters of those who took part in the Bank of ...
    2007-08-27 08:05:00

  • Resverlogix Corp.: Notice of Conversion on Debentures and Interest ...

    Market Wire - CALGARY, ALBERTA--(Marketwire - Aug. 27, 2007) - Resverlogix Corp. ("Resverlogix")(TSX:RVX) reports further to the August 13, 2007 press release that the interest rate provisions contained in the June 5, 2007 Debenture financing have increased to 14 ...
    2007-08-27 12:58:00

  • Subprime Fails to Damp Asia's Inflation Risk: Andy Mukherjee

    Bloomberg - South Korea unexpectedly raised its benchmark interest rate earlier this month, after the liquidity of financial institutions grew 10.4 percent from a year earlier in June, the quickest pace of monetary expansion in more than four years. In ...
    2007-08-27 09:41:00

  • Australian central bank raises benchmark rate to 10-year high

    Worldnews.com - SYDNEY : Australia's central bank raised its benchmark interest rate a quarter point Wednesday to its highest level in almost 11 years, and analysts said more increases were on the way. The governor of the Reserve Bank of Australia , Glenn Stevens ...
    2007-08-27 03:36:00

  • Fed cuts discount interest rate 0.5%

    Worldnews.com - Just when you thought it was safe to go back into the markets . . . new warnings that there may still be troubled waters ahead. " Financial markets are making a risky bet if they are counting on the central bank to get them out of the current jam ...
    2007-08-27 03:36:00

  • FOREX-Euro falls after Trichet comments on policy

    Reuters - NEW YORK, Aug 27 (Reuters) - The euro fell on Monday, extending losses after European Central Bank President Jean-Claude Trichet pared back expectations of an ECB interest rate hike next month. In a question and answer session after a speech in ...
    2007-08-27 06:42:00

  • Trichet says interest rates can have no effect on productivity growth ...

    CNBC - The ECB's interest rate policy can do nothing to boost productivity, he said. "Monetary policy has no effect on trend productivity growth. Structural policies must take the responsibility to create conditions conducive to better productivity ...
    2007-08-27 05:02:00

  • Trichet says interest rates can have no effect on productivity growth

    Forbes - BUDAPEST (Thomson Financial) - European Central Bank president Jean-Claude Trichet said euro zone productivity growth will only improve significantly through structural reforms. The ECB's interest rate policy can do nothing to boost productivity, he ...
    2007-08-27 04:12:00

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