Mortgage and Financial News From 2008-1-11 Page 66

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• TREASURIES-Prices up from safety bid on bank concerns

  Reuters - ... S. government bond prices for short maturities rose on Friday on renewed worries about banks' exposure to bad mortgage ... Investors sought the safety of government bonds as worries about the global credit crunch were stoked by a New York Times ...
  2008-01-11 05:00:00

• BofA to Buy Countrywide For $4 Billion in Stock

  CNBC - ... more than $100 billion in the last four years on FleetBoston Financial, credit card ... lifeline for Countrywide, which has been battered by mounting losses from bad ... we are at the end of the process in terms of recognizing losses from the mortgage ...
  2008-01-11 05:08:00

• Credit repair schemes can make your situation worse

  Baltimore Sun - Thousands more type in phrases like "bad credit" or "bad credit repair." Figuring out how to repair your ... these, with a shaky economy, record levels of foreclosures and rising numbers of bankruptcies, credit card delinquencies and late mortgage ...
  2008-01-11 12:14:00

• Stocks fall amid credit market worries

  MSNBC - The announcement confirmed fears of some analysts that the erosion of the subprime mortgage market has hurt other credit classes. It also renewed jitters that slowing economic growth could hurt upcoming corporate earnings reports more than previously ...
  2008-01-10 06:49:00

• Amex, Capital One to miss EPS views on card losses

  Boston Globe - ... share and 85 cents per share excluding a charge tied to GreenPoint Mortgage, a unit it closed in August. The McLean, Virginia-based company said it set aside $1.9 billion for bad loans in the fourth quarter, reflecting higher losses on U.S. credit ...
  2008-01-11 05:15:00

• Fed Chief Pledges He's Ready to Act

  The Ledger - The housing slump - aggravated by harder-to-get credit - has weighed heavily on national economic activity. Foreclosures have soared to record highs and financial companies have wracked up multibillion losses because of bad mortgage investments. The ...
  2008-01-11 03:06:00

• Credit card debt grows, as does non-payment

  Chicago Tribune - American Express also said Thursday that it's feeling the effect of bad loans. The company will be taking a ... Consumers were able to pluck cash out of their home equity and consolidate credit card debts. But with mortgage lending rules tighter and ...
  2008-01-11 03:20:00

• Yen Rises as Traders Pare Carry Trades on Credit-Market Losses

  Bloomberg - ... Bloomberg) -- The yen rose against all 16 most- active currencies as signs credit ... New York Times reported Merrill Lynch & Co. may write down $15 billion from mortgage ... currency trader at the Bank of Japan. ``Amid the dollar-bearish sentiment, bad ...
  2008-01-11 03:49:00

• Merrill Lynch Mortgage Losses Could Reach $15 Billion

  CNBC - The developments underscore the rising toll that the mortgage crisis is taking on ... He said the fourth quarter would be a "very bad quarter," those attending ... he said, would "significantly increase leverage and would threaten the credit ...
  2008-01-11 04:53:00

• Ben Bernanke signals more Fed interest rate cuts to come

  Chicago Tribune - Consumers and businesses face tight credit conditions, as financial markets indiscriminately shun mortgage-related investments, good and bad, and banks hoard money to protect their own balance sheets, he said. The Dow Jones industrial average rose 117 ...
  2008-01-11 03:13:00

• Citi, Merrill on hunt for more capital

  Boston Globe - Global banks have booked almost $110 billion of writedowns since last year because of bad bets on subprime mortgage securities, and the ensuing credit crisis. The additional foreign investment could provoke more scrutiny in Washington, depending on ...
  2008-01-11 05:15:00

• Ben Bernanke signals more Fed interest rate cuts to come - Chicago Tribune

  Ben Bernanke signals more Fed interest rate cuts to comeChicago Tribune, United States - 2 hours agoConsumers and businesses face tight credit conditions, as financial markets indiscriminately shun mortgage-related investments, good and bad, ...
  2008-01-11 03:30:50

• Credit card debt grows, as does non-payment - Chicago Tribune

  Credit card debt grows, as does non-paymentChicago Tribune, United States - 2 hours agoConsumers were able to pluck cash out of their home equity and consolidate credit card debts. But with mortgage lending rules tighter and home equity ...
  2008-01-11 03:32:50

• Short Capital One for Further Downside - Seeking Alpha

  Short Capital One for Further DownsideSeeking Alpha, NY - 2 hours agoWorse, according to this BusinessWeek article, delinquencies are still on the rise, spelling further bad news for credit card issuers… especially credit ...
  2008-01-11 03:33:19

• Yen Rises as Traders Pare Carry Trades on Credit-Market Losses - Bloomberg

  Yen Rises as Traders Pare Carry Trades on Credit-Market LossesBloomberg - 1 hour ago``Amid the dollar-bearish sentiment, bad trade data could be yet another dollar-selling catalyst.'' The US currency may fall to $1.55 per euro by the end of ...
  2008-01-11 03:53:42

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