Mortgage and Financial News From 2007-9-24 Page 18

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  • Hong Kong Shares Soar 2.7 Percent

    Houston Chronicle - Hong Kong's second-biggest firm by market cap, HSBC, ended up 1.2 percent at HK$143.3, buoyed by news it will stop making subprime mortgages through brokers in the U.S. and will focus on lending directly to consumers. Cathay Pacific was suspended from ...
    2007-09-24 06:22:00

  • UPDATE 1-Qatar's QNB pays $195 mln to up Jordan bank stake

    Reuters - QNB) said on Monday it had paid $195 million to raise its stake in Jordan's second-largest lender to 30 percent, part of a ... Set up in 1974 initially to provide mortgages, Housing Bank is a commercial lender with 96 branches in Jordan, 11 in the ...
    2007-09-24 07:34:00

  • Record savings as credit crunch hits

    Times Online - ... second quarter of 2007 to £47 billion, according to the latest survey from Unbiased.co.uk, an independent-advice website. It was the highest figure in the survey’s six-year history. At the same time, the amount we borrowed, excluding mortgages ...
    2007-09-24 07:48:00

  • Ginn on the defensive amid lawsuits against resort, racing companies

    Summit Daily News - Ginn bought property and financed its second mortgages on the lots through Ginn Financial Services, its mortgage company, he said. Those second mortgages inflated values of the lots by about three times what they were worth as Ginn agents sold them to ...
    2007-09-24 08:03:00

  • Fed's Rate Cut May Give Little Relief to Homeowners (Update1) (Bloomberg.com)

    Sept. 24 (Bloomberg) -- Americans may be disappointed that the Federal Reserve's interest rate cut won't translate into lower monthly mortgage payments and a revival of the housing market.
    2007-09-24 06:18:35

  • Cautious start seen for stocks (CNN Money)

    U.S. stock futures were slightly stronger Monday, but inflation worries could start to take a toll on investors.
    2007-09-24 04:10:12

  • Saving up as Britons tighten belts (Channel 4)

    Savings levels reached a new high during the second quarter of the year as consumers tightened their belts in the face of rising interest rates, figures showed.
    2007-09-24 06:46:20

  • Qatar's QNB pays $195 mln to up Jordan bank stake (Reuters via Yahoo! Malaysia News)

    DUBAI, Sept 24 - Qatar National Bank said on Monday it had paid $195 million to raise its stake in Jordan's second-largest lender to 30 percent, part of a trend among Gulf Arab banks to expand abroad as rivalry at home grows.
    2007-09-24 06:03:59

  • U.K. Stocks Including Northern Rock Fall; BHP, Rio Tinto Gain (Bloomberg.com)

    Sept. 24 (Bloomberg) -- U.K. stocks including Northern Rock Plc declined. The Sunday Telegraph said hedge funds may buy the bank's mortgages at below face value. Wolseley Plc retreated after earnings fell more than estimated.
    2007-09-24 01:13:13

  • Surprise: 'Toxic' Mortgages Are the Best (BusinessWeek Online via Yahoo! UK & Ireland Finance)

    A new study from professors at Columbia and NYU finds that the "optimal" mortgage in a perfect world is an option ARM
    2007-09-24 05:26:01

  • H&R Block Annual Meeting Election Results Certified; Audit Committee ...

    Forbes - Because forward-looking statements involve risks and uncertainties and speak only as of the date on ... regarding its closing; the uncertainty of the impact and effect of changes in the non-prime mortgage market including changes in interest rates ...
    2007-09-24 05:54:00

  • Wolseley's fresh alert on US housing market

    Times Online - Trading profit from its Stock business has dropped 74.9 per cent to only $86 million (£42 million ... would be, although he said that Wolseley had been paying more heed to the threat of further interest rate rises than to the plight of the mortgage ...
    2007-09-24 06:29:00

  • U.K. August Budget Deficit Swells on Spending Growth (Update3)

    Bloomberg - ... the same time, revenue may be eroded as the collapse of the U.S. subprime mortgage ... outlays increased 8.7 percent and higher borrowing costs pushed up interest payments ... raises enough tax revenue to cover day-to- day spending and borrows only for ...
    2007-09-24 07:55:00

  • London shares firmer midafternoon off highs; NY falls back; miners ...

    Forbes - Enthusiasm is waning since the Fed cut interest rates last week as traders realise ... pence suggested by advisers linked with finding a buyer for the beleaguered mortgage ... News and its third party content providers for your personal information only ...
    2007-09-24 08:38:00

  • Private equity faces haircut: IMF

    The Australian - ... with gearing levels rising as high as 10 times earnings before depreciation, interest and tax. Is said that, like the sub-prime mortgage market, financing innovations lowered lending standards. It cited "incurrence covenants" on loans, which only ...
    2007-09-24 07:20:00

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