Mortgage and Financial News From 2008-1-15 Page 37

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  • Defaults to cost Sovereign $1.4 billion in writedowns (Worcester Telegram & Gazette)

    PHILADELPHIA - Sovereign Bancorp Inc. said yesterday that it expects to take $1.6 billion in charges for the fourth quarter, as customers defaulted on loans and its investment in a New York thrift yielded lower-than-expected revenue and profits.
    2008-01-15 01:43:43

  • Sovereign sees $1.6B writedown for 4Q charges (Asbury Park Press)

    Sovereign Bancorp Inc. said Monday that it expects to take $1.6 billion in charges for the fourth quarter, as customers defaulted on loans and its investment in a New York thrift yielded lower-than-expected revenue and profit.
    2008-01-15 01:45:53

  • INDICATORS - Lebanon - Updated Jan 15 (Reuters via Yahoo! Malaysia News)

    BEIRUT, Jan 15 - Below is a table of the latest Lebanese economic statistics.
    2008-01-15 04:02:37

  • $1.4B writedown for Sovereign (The York Dispatch)

    PHILADELPHIA -- Sovereign Bancorp Inc. said Monday that it expects to take $1.6 billion in charges for the fourth quarter as customers defaulted on loans and its investment in a New York thrift yielded lower-than-expected revenue.
    2008-01-15 08:18:35

  • A subprime swing: Politicians seek answers to the US housing crisis

    MSN MoneyCentral - ... their own debt spiral, with some lenders charging interest rates of 391 per cent. On Wall Street, the mortgage ... up early this year, would allow homeowners to modify the mortgage of their primary residence in court under bankruptcy. Under current law ...
    2008-01-15 12:12:00

  • Greenspan joins hedge fund Paulson

    Daily Telegraph - ... billions of dollars when it called correctly the collapse in the sub-prime mortgage market, a collapse which was caused by Dr Greenspan who kept interest rates too ... potential for and severity of a US recession, are fundamental in formulating current ...
    2008-01-15 11:58:00

  • Retailers for the middle classes will do fine

    Daily Telegraph - ... the poorer sections of society that are struggling the most with the current ... and run slowly into the ground as mortgages amortise over time (and as each mortgage ... economy) is moving in favour of UK equities - better yields, lower rates, weaker ...
    2008-01-15 11:44:00

  • Stocks get battered

    CNN Money - ... dividend, and said it was taking an $18.1 billion writedown related to bad mortgage ... of Salient Partners, with investors catching up to and reflecting the current ... the economy has investors clamoring for the Federal Reserve to cut interest rates ...
    2008-01-15 12:12:00

  • Asia Day Ahead: U.S. Stocks Fall; Citi, Merrill Get $21 Billion

    Bloomberg - ... defaults on home loans forced it to write down the value of subprime-mortgage ... Current Account Surplus Seen at 1.88 Trillion Yen Australian January Consumer ... The Federal Reserve will cut interest rates by as much as three quarters of a ...
    2008-01-15 12:12:00

  • Sellers' pain is renters' gain

    AZCentral.com - Listings Home Sales Home Values Mortgage Rates Mortgage Calculator Columnists Business Blogs The Republic 100 Arizona Business Gazette ... A study by one former and two current Federal Reserve economists suggests that home prices will have to fall by 15 ...
    2008-01-15 09:49:00

  • Williams-Sonoma Shares Fall on Weak Outlook

    CNBC - The combination of higher gasoline and food prices, resetting mortgage rates, a credit crunch and U.S. housing decline hurt ... For the current fiscal year, Williams-Sonoma said it expects to earn $1.75 to $1.78 per share, excluding a 3 cent-per ...
    2008-01-15 06:50:00

  • UPDATE 3-Williams-Sonoma cuts outlook; shares drop

    Reuters - ... reported a decline in its holiday same-store sales on Tuesday and gave a weak outlook for the current quarter and ... The combination of higher gasoline and food prices, resetting mortgage rates, a credit crunch and U.S. housing decline hurt ...
    2008-01-15 11:51:00

  • Stocks pummelled by falling financials, lower oil: TSX down 350-plus

    Thunder Bay Chronicle-Journal - U.S. markets were hit with heavy losses after Citibank announced a US$18.1-billion writedown for bad mortgage assets and ... It had already announced $1.3 billion in writedowns, and warned it may suffer more before the end of its current quarter on ...
    2008-01-15 12:34:00

  • Taylor Orders Drop 19% as Tight Credit Deters Buyers (Update6)

    Bloomberg - Cancellation rates rose to more than 30 percent in the final quarter from an average of about 20 percent. Reservations fell ... All have said the current U.K. market is ``challenging'' and that it is too early to predict the outcome of 2008 until after ...
    2008-01-15 11:58:00

  • UPDATE 2-Williams-Sonoma cuts outlook; shares fall - Reuters

    UPDATE 2-Williams-Sonoma cuts outlook; shares fallReuters - 6 hours agoThe combination of higher gasoline and food prices, resetting mortgage rates, a credit crunch and US housing decline hurt holiday sales for all retailers. ...
    2008-01-15 06:59:29

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