Mortgage and Financial News From 2007-11-4 Page 3

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  • Too good to be true (Arizona Daily Sun)

    Don Helm, 78, and his daughter Debbie never met the man who helped them get a $260,000 loan to refinance their home in Upper Greenlaw last year.
    2007-11-04 01:14:10

  • RPT-Wall St Week Ahead: For stocks, Fed chief in the spotlight

    Reuters - ... rates for the second time this year on Wednesday, stocks rallied. But one day later, the gains were erased as the view took hold that further cuts were not in the cards. With concerns about a credit crunch and losses in subprime mortgages refusing ...
    2007-11-04 03:54:00

  • Questionable flips leave upscale homes derelict

    Herald Tribune - You have simultaneous closings, but the only funding is on the second transaction." Pollack investigates problem mortgages for the lending industry. Florida leads the nation in cases of mortgage fraud, and experts say rapid appreciation in home values ...
    2007-11-04 04:51:00

  • Citigroup CEO retires

    Reuters - ... mortgages. The write-down equals $8 billion to $11 billion before taxes, Citigroup said. The bank also said it has no plans to reduce its common stock dividend, and expects its capital levels to return to normal levels by the end of the second quarter ...
    2007-11-04 04:08:00

  • TEXT - Citigroup sees large write-down

    Reuters - ... is a statement from Citigroup (C.N: Quote , Profile , Research ) on Sunday on write-downs related to subprime mortgages) NEW YORK ... current dividend level, that its capital ratios will return within the range of targeted levels by the end of the second ...
    2007-11-04 04:01:00

  • The Times

    Times Online - ... was the announcement of a $6.5 billion third-quarter writedown last month, much of it relating to mortgages and buyout loans, which signalled that Citigroup’s exposure to the credit crunch was much higher than previously anticipated. In the second ...
    2007-11-04 05:27:00

  • Flood victims paying mortgages on damaged properties can't take ...

    Union Leader - Most have mortgages to pay on their damaged homes, which will be tough if not impossible to sell, especially if they were ... He and his 14-year-old bird dog, Daisy, were fine until last April 16 and a second round of flooding. Watson remembers ...
    2007-11-04 08:54:00

  • Australian Stocks Fall, Led by Commonwealth Bank; Santos Gains

    Bloomberg - Nov. 5 (Bloomberg) -- Australian stocks fell for a second day, on concern losses related to U.S. subprime mortgages will curb profits. Commonwealth Bank of Australia and Westpac Banking Corp. led declines by Australian lenders after Citigroup Inc ...
    2007-11-03 05:59:00

  • Japanese Stocks Drop on Concern Subprime Losses to Continue

    Bloomberg - ... dropped, led by banks such as Mitsubishi UFJ Financial Group Inc., on concern investments related to subprime U.S. mortgages ... Mizuho Financial Group Inc., the second largest, declined 11,000 yen, or 1.8 percent, to 596,000. Sumitomo Mitsui Financial ...
    2007-11-04 04:58:00

  • Prince out as Citigroup CEO

    CNN Money - Prince is the second high profile Wall Street departure in the last week. Stanley O'Neal resigned as chairman and CEO of ... The firm had already announced $3 billion in writedowns because of bad investments in securities backed by subprime mortgages ...
    2007-11-04 04:30:00

  • Citigroup's boss steps down

    News.com.au - ... mortgages. The write-down equals $US8 billion to $US11 billion before taxes, Citigroup said. The bank also said it has no plans to reduce its common stock dividend, and expects its capital levels to return to normal levels by the end of the second ...
    2007-11-04 05:27:00

  • The following are selected facts about Citigroup:

    Reuters - Largest U.S. bank by assets, second-largest U.S. bank by market value. Major business lines: (1) Global consumer, including retail branches, credit cards and mortgages; (2) Institutional clients, comprising commercial and investment banking ...
    2007-11-04 12:48:00

  • Analyst receives death threats

    News.com.au - His departure would follow significant losses at the bank from exposure to bad loans, mortgages and other debt. Citigroup's market value has fallen below that of Bank of America, the second-largest US bank by assets. Share this article ( What is this? ...
    2007-11-04 04:44:00

  • Fixing Citigroup Will Test Rubin

    New York Times - He becomes the second head of a major investment bank to exit because of problems related to subprime mortgages. The chairman and chief executive of Merrill Lynch , E. Stanley O’Neal , was forced to retire last week. Yesterday Citigroup turned to two ...
    2007-11-04 08:19:00

  • Japanese Stocks Drop on Concern Subprime Losses to Continue (Bloomberg.com)

    Nov. 5 (Bloomberg) -- Japanese stocks fell, sending the Nikkei 225 Stock Average to its lowest in seven weeks. Banks such as Mitsubishi UFJ Financial Group Inc. led declines on concern investments related to subprime U.S. mortgages will curb profits.
    2007-11-04 08:36:10

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