Latest News in Home, Mortgages, and Loans - Nov 9, 2007

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E-Trade expects to take “significant write-downs” in 4th quarter on …
CNBC - In September, E-Trade slashed its 2007 profit forecast and said it was getting out of the wholesale mortgage business amid mounting concerns over bad home loans this summer. Then last month, E-Trade wrote down nearly $200 million worth of mortgage …

As Loans Go Bad, Mortgage Insurers Worry
Forbes - Instead, they just want to make sure they’re giving loans to people who can afford them, she added. Most mortgage lenders typically require home buyers to pay for mortgage insurance when they put down less than 20 percent of their home’s value …

Fitch Affirms $323MM Class A from Harborview Mortgage Loan Trust 2006 …
Forbes - The mortgage loans were originated by Countrywide Home Loans, Inc., Indymac Bank F.S.B., Downey Savings and Loan, HSBC Mortgage Corp., and Mellon Trust of New England. The loans are master serviced by Wells Fargo Bank N.A., rated ‘RMS1′ by Fitch. …

Stocks cut down by mortgage woes
CNN Money - In recent months, banks and other financial institutions have taken big losses on mortgage-backed securities, which package individual home loans and sell them as an investments. Those investments soured when people started defaulting on loans because …

Fannie Mae Third-Quarter Loss Widens on Housing Slump (Update4)
Bloomberg - Nov. 9 (Bloomberg) — Fannie Mae, the biggest source of money for U.S. home loans, said its third-quarter loss more than doubled to $1.39 billion as a deepening housing slump increased mortgage delinquencies. The net loss was caused by a $2.24 …

Bank of America Says `Dislocations’ to Hurt Results (Update2)
Bloomberg - We had other subprime exposure related to loans pending securitization of approximately $1.8 billion” and about another $1 … 000 jobs companywide, including 500 from global markets and global investment banking and 700 from its wholesale mortgage …

Non-bank lenders to hit harder on interest rates
News.com.au - … credit market jitters could leave borrowers paying more after the federal election even if the Reserve Bank of Australia does not raise interest rates again, says Aussie Home Loans founder John Symond. The head of one of the nation’s largest mortgage …

JPMorgan Chase Held $40.6 Billion in Leveraged Loans (Update3)
Bloomberg - JPMorgan, which said Oct. 31 its mortgage originations climbed 35 percent in the third quarter, may have to set aside more money to cover bad loans. Home equity loans may cause a loss of $250 million to $270 million per quarter, “over the next few …

Resource Capital reports steep 3rd-quarter loss after writedowns of …
CNBC - The market for mortgage-backed investments nearly vanished in August as defaults on home loans to borrowers with spotty credit spiked. Quarterly revenue surged forty-fold to $14.7 million from $363,000 in the previous year as the company moved from …

U.S. credit crisis deepens further
Globe and Mail - Home � National British Columbia Prairies Ontario Quebec Atlantic Politics Education World … on Friday as Wachovia Corp. reported a potential $1.7-billion loss on mortgage … in broader market indexes, on expectations that mounting writedowns and bad loans …

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