Mortgage and Financial News From 2007-11-7 Page 8

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  • AIG net falls 27% as subprime crisis bites (Market Watch)

    SAN FRANCISCO (MarketWatch) -- American International Group reported a 27% drop in third-quarter net income late Wednesday as the subprime mortgage crisis pushed the insurance giant's results below Wall Street expectations.
    2007-11-07 03:03:46

  • AIG Profit Falls 27 Percent on Mortgage-Linked Losses (Update1) (Bloomberg.com)

    Nov. 7 (Bloomberg) -- American International Group Inc., the world's largest insurer, said third-quarter profit fell 27 percent as the housing recession contributed to losses in its mortgage guarantee and credit protection businesses.
    2007-11-07 02:27:51

  • AIG Profit Falls 27 Percent on Mortgage-Linked Losses (Update2) (Bloomberg.com)

    Nov. 7 (Bloomberg) -- American International Group Inc., the world's largest insurer, said third-quarter profit fell 27 percent as the U.S. housing recession contributed to losses in its mortgage guarantee and credit protection businesses.
    2007-11-07 02:55:08

  • U.S. Stocks Drop on Mortgage Probe, Slumping Dollar; GM Falls (Bloomberg.com)

    Nov. 7 (Bloomberg) -- U.S. stocks fell, erasing their gains since the Federal Reserve's Sept. 18 interest-rate cut, after New York expanded its probe of the mortgage industry, General Motors Corp. posted a record loss and the dollar tumbled.
    2007-11-07 03:27:41

  • Groupama joins home insurance panel (Insurance Window)

    Groupama has been selected to join the home insurance panel for Uinsure, the new general insurance intermediary catering for mortgage brokers and IFAs.
    2007-11-07 04:40:10

  • Quietening down on the building sites

    Times Online - But stretched affordability ratios, a new realism from mortgage lenders and the growing belief among buyers that patience, rather than a headlong rush to buy off-plan, will be rewarded, are strong forces now acting in the opposite direction. While ...
    2007-11-07 02:39:00

  • Canada Stocks Fall on Lending Concerns; Financial Shares Drop

    Bloomberg - U.S. stocks fell the most in a week after General Motors Corp. posted a record loss, the dollar tumbled and concern grew that mortgage lenders face government probes. Crude oil rose above $98 a barrel in New York for the first time on ...
    2007-11-07 09:16:00

  • Stocks Tumble on Weak Dollar and Oil Prices

    New York Times - Cuomo accused the First American Corporation for inflating appraisals under pressure from Washington Mutual , one of the nation’s largest mortgage lenders. First American and Washington Mutual, which was not charged with wrongdoing, have denied the ...
    2007-11-07 12:23:00

  • AIG Profit Falls 27 Percent on Mortgage-Linked Losses (Update2)

    Bloomberg - For every dollar in premium revenue, United Guaranty paid out $2.14 in claims to reimburse lenders when borrowers fell behind on their house payments. MGIC Investment Corp., the largest U.S. mortgage insurer, and PMI Group Inc., the ...
    2007-11-07 03:00:00

  • Local Stocks Drop on Bad News

    Los Angeles Business Journal - Shares in local mortgage lenders and homebuilders sank Wednesday after one of the nation’s largest lenders painted a bleak picture of its financial future and a report said that mortgage application volume fell. Washington Mutual said Wednesday ...
    2007-11-07 03:57:00

  • Confusion on London stock market

    BBC Business - Revised figures after the extra's hour trading showed the FTSE 100 down 54.8 points at 6420.1, with shares of leading banks and mortgage lenders under continuing pressure. The disruption to trading will be a serious embarrassment for the LSE, one of ...
    2007-11-07 02:39:00

  • British Property Prices Seen Falling

    BusinessWeek - House prices fell during October for the first time in two years according to Hometrack, the property specialist, while the Council for Mortgage Lenders said mortgage approvals last month were at a 26-month low. Bovis's warning coincided with a ...
    2007-11-07 01:56:00

  • Wells Fargo to buy back up to 75 mln shares

    Reuters - Wells Fargo shares closed down $1.88, or 5.8 percent, to $30.76 on the New York Stock Exchange. That decline was part of a broad slide among shares of U.S. banks, thrifts and mortgage lenders. (Reporting by Jonathan Stempel; Editing by Leslie ...
    2007-11-07 01:41:00

  • Consumer lenders suffer big falls

    Financial Times - Stocks of consumer lending businesses plummeted on Wednesday, as some of the largest US mortgage and credit card lenders set aside increased reserves for bad loans amid ongoing deterioration in the US housing market. Investors punished shares of ...
    2007-11-07 12:08:00

  • WaMu Sinks as Losses Mount

    Street.Com - "We expect today's challenging housing market conditions to continue throughout 2008," CEO Kerry Killinger said, sending shares of mortgage lenders and homebuilders reeling. John McMurray, WaMu's chief credit officer, said that as a result, the firm ...
    2007-11-07 09:38:00

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