Mortgage and Financial News From 2007-11-4 Page 2

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• Profile: Charles Prince

  BBC News - This was a disappointing quarter, even in the context of the dislocations in the sub-prime mortgage and credit markets," said Mr ... Stan O'Neill, the chief executive of Merrill Lynch, recently quit after it reported $7.9bn (£3.85bn) exposure to bad ...
  2007-11-04 09:09:00

• Business comment: Music stops for Prince

  Daily Telegraph - A profit warning and $6.5bn in bad debt write-offs later, Prince is finally ... Prince will be the highest profile casualty yet of the credit crisis and will ... Citigroup's sprawling size, the bank has been hit hard by the sub-prime mortgage ...
  2007-11-04 04:01:00

• After Prince, more problems for Citi

  CNN Money - Factors such as house prices and credit ratings could influence this range, but Citigroup alluded to one factor ... other analysts believe Citigroup has adequate capital to deal with an SIV shock and more losses from mortgage-related assets and bad loans
  2007-11-04 09:16:00

• Don't let credit score rule your financial decisions

  Fort Lauderdale Sun-Sentinel - ... with paying bills on time — is particularly important when you are establishing credit or applying for a mortgage ... balance to raise credit scores, "that's not only wrong information, it's bad advice," Watts said. "Always paying your credit card in ...
  2007-11-04 06:03:00

• Citigroup chief quits after big mortgage-linked losses

  Seattle Post Intelligencer - ... Charles Prince, the chairman and chief executive of Citigroup Inc., resigned Sunday amid billions of dollars in losses from bad investments in mortgage-related debt. Citigroup, which took a hit of $6.5 billion in asset write-downs and other credit ...
  2007-11-03 05:59:00

• Citigroup crisis to hit UK investors

  Daily Telegraph - ... resigned after an emergency board meeting in New York. The bank has been hit by billions of dollars of bad debt as a result of credit ... Last week saw three mortgage companies — Edeus, Mortgages Plc and Kensington — cut between 15 and 20 per cent ...
  2007-11-04 06:17:00

• Citigroup's day of reckoning

  CNN Money - ... billion and $11 billion in the fair value of its exposure to the subprime mortgage market ... The firm had already announced $3 billion in writedowns because of bad investments in securities backed by subprime mortgages and tighter credit market ...
  2007-11-04 04:51:00

• Subprime Contagion May Claim 10-Year Treasuries Next (Update1)

  Bloomberg - ... notes returned 9.6 percent since mid-June as investors sought a haven from credit ... The mortgage market's influence over Treasuries has increased as the amount of home ... Rising duration can be bad for holders of longer-maturity securities. The ...
  2007-11-04 09:16:00

• Credit crisis likely to claim chief executive of Citigroup

  Herald - The announcement came after a list of illustrious banks announced losses related to a surge in mortgage lending by institutions to people who might previously have been considered to be bad credit risks. Lending to junk-rated corporates also ballooned ...
  2007-11-04 03:54:00

• Paulson's Focus on Subprime `Excesses' Shows His Goldman Gorged

  Bloomberg - ... Treasury Secretary Henry Paulson says the U.S. is examining the subprime mortgage ... bill Oct. 22 to make firms packaging subprime mortgages liable for bad loans in ... When other credit markets began to be affected, he and others began pushing for ...
  2007-11-04 09:37:00

• Asia Stocks Wk Ahead - Resurgent credit worries dent bull run (Reuters via Yahoo! India News)

  HONG KONG (Reuters) - Asian stock markets will start the week within striking distance of record highs, but a flare up in worries about credit market problems could temper the bull run.
  2007-11-04 02:45:25

• ETF INVESTING: Credit Market Concerns Rattle Financials, Home Builder ETFs (Nasdaq)

  BOSTON (Dow Jones) -- U.S. financial stocks fell to multiyear lows this week over growing concern that banks may be on the hook for additional write-downs for subprime mortgages and other impaired credit obligations, while the Federal Reserve hinted it may be through cutting interest rates in the near term.
  2007-11-04 06:09:25

• Citigroup chief quits after big mortgage-linked losses (Seattle Post-Intelligencer)

  NEW YORK -- Charles Prince, the chairman and chief executive of Citigroup Inc., resigned Sunday amid billions of dollars in losses from bad investments in mortgage-related debt.
  2007-11-04 09:30:57

• Markets at crucial juncture

  Economic Times - ... the Reserve Bank of India (RBI) raised the cash reserve ratio (CRR) by 50 basis points and left the repo, reverse repo and ... Problems with sub-prime mortgages have led to billions of dollars being written off by major financial institutions. Analysts ...
  2007-11-04 01:20:00

• Home Equity Income Trust Announces Third Quarter Conference Call

  CNW Group - About Home Equity Income Trust Home Equity Income Trust provides unitholders with stable monthly cash distributions from a portfolio of reverse mortgages originated by its wholly owned subsidiary Canadian Home Income Plan Corporation. The ...
  2007-11-04 07:54:00

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