Mortgage and Financial News From 2008-3-10 Page 8

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  • Stocks Dip on Mixed News, Surging Oil

    Forbes - ... drumbeat of negative news on companies exposed to mortgages. Blackstone Group posted a fiscal first-quarter loss as the private equity firm booked a write-down related to the tough credit climate and a big stake in a bond insurer.
    2008-03-10 10:48:00

  • Fed to Make $200 Billion Available To Lenders

    Washington Post - Rates also have soared on bonds issued by the government-sponsored mortgage companies Fannie Mae and Freddie Mac . The stresses in financial markets drove the average rate on a 30-year, fixed-rate mortgage to people with sound credit to 6.875 percent ...
    2008-03-08 08:18:00

  • Stocks fall as recession, credit concerns linger

    MSN MoneyCentral - ... billion in write-downs at U.S. investment banks in the first quarter, driven largely by leveraged loan and mortgage-related losses. Adding to the market's woes, gold futures and other metal prices sank, pulling down shares of mining companies ...
    2008-03-10 01:40:00

  • U.S. Stocks Retreat, Led by Financials; Bear Stearns Tumbles

    Bloomberg - Producers of raw materials slumped 3.3 percent and industrial companies dropped 1.8 percent as a group. Bear Stearns, the second-biggest underwriter of mortgage- backed bonds, tumbled $7.78, or 11 percent, to $62.30, its steepest drop since ...
    2008-03-10 01:12:00

  • FBI launches probe of Countrywide

    Pacific Business News - The Wall Street Journal reported that the investigation is in its early stages, and that 15 other subprime mortgage companies are also being looked at.
    2008-03-10 01:33:00

  • Treasurys rise as stocks come under pressure from disappointing ...

    CNBC - There also were new concerns about mortgage finance companies Fannie Mae and Freddie Mac that sent the stocks of both companies to 52-week lows Monday.
    2008-03-10 02:45:00

  • Another bank, another $500m dodgy debt

    News.com.au - However, the companies had not yet entered talks to negotiate a such a transaction. learned yesterday that another non-bank mortgage specialist, Seiza Capital, is also reviewing its operations after posting a $6.3 million loss in 2007.
    2008-03-10 12:57:00

  • Carlyle Capital asks lenders to halt further liquidation

    International Herald Tribune - The fund, which invests mainly in AAA-rated mortgage securities issued by the U.S. government-chartered finance companies Fannie Mae and Freddie Mac, received $400 million in margin calls, and some of its lenders started to liquidate collateral for ...
    2008-03-10 12:57:00

  • Treasuries Rally on Concern Mortgages to Cause More Writedowns

    Bloomberg - The companies profit by holding mortgages and mortgage- backed securities as investments and by charging lenders a fee to bundle home loans into securities for sale to investors.
    2008-03-10 12:43:00

  • FBI launches probe of Countrywide Financial

    MSN MoneyCentral - The Wall Street Journal reported that the investigation is in its early stages, and that 15 other subprime mortgage companies are also being looked at.
    2008-03-10 11:10:00

  • Fannie, Freddie shares plunge

    Forbes - WASHINGTON (AP) - Shares of big mortgage-finance companies Fannie Mae and Freddie Mac plunged to 52-week lows Monday. An article out over the weekend by Barron's, a financial magazine published by Dow Jones & Co., speculated that Fannie may soon need ...
    2008-03-10 11:38:00

  • Bank emperor's biggest gamble

    Baltimore Sun - Bank of America expects $670 million in after-tax cost savings in the transaction, or 11 percent of the expense base of the two companies' mortgage operations.
    2008-03-10 02:37:00

  • Malone: Diller Calls IAC 'His Business' (AP via Yahoo! Finance)

    Though Liberty Media holds the controlling interest in an Internet conglomerate that includes Ticketmaster, Citysearch, and LendingTree, Liberty's chairman testified Monday that billionaire Barry Diller believes he alone calls the shots.
    2008-03-10 02:41:32

  • (AFX UK Focus) 2008-03-10 21:22 GMT: Treasurys rise; stocks fall on earnings (Interactive Investor)

    NEW YORK (AP) - Long-term Treasury prices rose Monday as stocks came under pressure from yet another record-smashing new oil price high and continued nervousness in the credit markets.
    2008-03-10 02:43:25

  • Monday's Financial Winners & Losers (TheStreet.com)

    Ambac drops, while Nationwide rises.
    2008-03-10 02:49:20

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