Yen Rises This Week as Investors Flee Higher Yield Assets
Bloomberg – … in U.S. financial companies and real estate prompted investors to retreat from higher-yielding assets funded by loans in … The Organization for Economic Cooperation and Development yesterday estimated losses from U.S. subprime mortgage foreclosures …
Prem Watsa: He has never been more bearish
Globe and Mail – Home � National British Columbia Prairies Ontario Quebec Atlantic Politics Education World Americas Europe Asia-Pacific … they shifted the risk away from the person making the lending decision – which encouraged auto finance or mortgage companies to give loans …
Stocks End Higher After Volatile Week
Forbes – Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists … and how it will emerge from a recent string of write-offs on soured subprime loans … Some of the concern came after goverment-sponsored mortgage-makers Freddie Mac and …
Fannie and Freddie pullback would devastate economy
Reuters – Fannie Mae and Freddie Mac own or guarantee a combined $4.8 trillion of U.S. home mortgage loans of more than 40 percent of the total outstanding. That size, in part, explains why Fannie Mae and Freddie Mac are likely to survive the current housing …
Mortgage meltdown’s nightmare scenario
MSNBC – A sign stands outside an existing home on the market in central Denver. Some 2 million homeowners hold $600 billion of subprime adjustable-rate mortgage loans, known as ARMs, that are due to reset at higher amounts during the next eight months. NEW …
Not everyone’s sold on early mortgage payoff
Boston Online – Second, if the borrower keeps a reasonably significant amount in a savings account, he or she can transfer those funds to their CAM mortgage account to accelerate the pay-down on the mortgage. Again, because these loans are home equity lines of …
E*Trade Shares Rally on Report of Takeover Talks (Update3)
Bloomberg – Earlier this year, E*Trade interrupted merger talks with competitors as its banking unit grappled with a rise in late mortgage … E*Trade may seek to sell some loans, obtain new capital or sell itself to shore up its banking unit, Sandler O’Neill …
People on the Move
Newsday – … resident has more than 35 years of financial services experience, most recently as a reverse mortgage specialist at Sterling National Bank. Richard C. Kilfoil has been named greater metro New York district manager for First Horizon Home Loans. The …
Sector snap: Homebuilders pep up
Boston Globe – … earlier in the week came amid a series of weak readings, the last of which showed sales of existing homes fell in 46 states in the third quarter. Freddie Mac set aside $1.2 billion to account for bad home loans, pushing the nation’s No. 2 mortgage …
Ameritrade shares gained 4.5% to $18.90, while Schwab rose 3.3% to $23 …
Marketwatch – E-Trade has been hit hard by the subprime-mortgage crisis this year. The company offered mortgages and also invested in mortgage-backed securities and other securities often tied to home loans called collateralized debt obligations. E-Trade lost more …
