Mortgage and Financial News From 2007-9-14 Page 14

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  • Paragon reassures after crisis hits share price

    Times Online - Both Alliance & Leicester (A&L) and Bradford & Bingley also made statements after Northern Rock’s troubles depressed both mortgage lenders’ share prices. A&L said: “Our funding model is not overly reliant on the wholesale markets, with around ...
    2007-09-14 07:53:00

  • Euroshares fall midday as Northern Rock's funding woes reignite credit ...

    Forbes - Among other German mortgage lenders, Hypo Real Estate was off 3.2 pct, Deutsche Postbank dropped 4.7 pct, Commerzbank was off 3.7 pct, and Deutsche Bank was down 1.6 pct. Other financials were also lower as SG Secs downgraded a number of banking ...
    2007-09-14 06:13:00

  • Funding woes hit shares, sterling

    Reuters - Fellow mortgage lenders Paragon (PAG.L: Quote , Profile , Research ), Alliance & Leicester (AL.L: Quote , Profile , Research ), Bradford & Bingley (BB.L: Quote , Profile , Research ), HBOS (HBOS.L: Quote , Profile , Research ) and Lloyds TSB (LLOY.L: Quote , ...
    2007-09-14 06:41:00

  • Commercial markets watch and wait for impact

    News.com.au - The worst impact is on non-bank mortgage lenders who rely on borrowing market funds to finance their lending. The bigger banks actually gain a commercial advantage as they also use bank deposits to finance lending. Central banks have correctly ...
    2007-09-14 08:00:00

  • Northern Rock Crumbles

    Forbes - This has made it difficult for mortgage lenders who relied on the credit markets to get loans off their books and make new ones, putting new pressure on home prices. In a note to clients Credit Suisse analyst Jonathan Pearce said he expected mortgage ...
    2007-09-14 07:10:00

  • U.K. Liquidity, China's Rates Weigh On Markets

    CNBC - This is similar to problems that other mortgage lenders in the U.S. have faced in August. They also lowered earnings guidance, and said they were slowing down customer lending due to difficulties NRK is having in accessing long term funding and ...
    2007-09-14 08:00:00

  • Madrid shares sharply lower midday as banks, constructors slide

    Forbes - MADRID (Thomson Financial) - Share prices were sharply lower and near session lows in nervous midday trade as negative news from UK mortgage lenders sent banks and constructors sliding. At 12.07 pm, the IBEX-35 index was down 203.0 points or 1.44 pct ...
    2007-09-14 04:32:00

  • U.K. Central Bank to Offer Support To Mortgage Lender Northern Rock

    Wall Street Journal - ... profile instances of a central bank coming directly to the rescue of a commercial bank in the current credit crisis, the Bank of England agreed to provide emergency funding to Northern Rock PLC, one of the United Kingdom's largest mortgage lenders. ...
    2007-09-14 05:30:00

  • Traders target Paragon as next crisis victim

    Times Online - Traders target Paragon as next crisis victim Mortgage lenders and housebuilders drive FTSE heavily into red over fears of a house market freeze
    2007-09-14 05:30:00

  • Indian shares close little changed after credit worries resurface in ...

    Forbes - MUMBAI (Thomson Financial) - Indian shares reversed impressive early gains and ended almost unchanged as European shares suffered heavy losses after profit warnings from big overseas mortgage lenders Northern Rock and Interhyp sapped enthusiasm on ...
    2007-09-14 05:30:00

  • Northern Rock: Reaction

    BBC Business - The Bank of England has agreed to give emergency financial support to the Northern Rock, one of the UK's largest mortgage lenders. In doing so, it has become the highest profile UK-based victim of the fallout from the global credit crunch, which ...
    2007-09-14 06:48:00

  • Auto Loans Keep Getting Longer

    Street.Com - Mortgage lenders are spinning their wheels as more and more borrowers with weak credit are unable to make payments now that their adjustable rates have reset. This has made it difficult for the lenders to unload new mortgages on investors, bringing ...
    2007-09-14 08:07:00

  • UK mortgage borrowers told not to panic

    Globe and Mail - Borrowers and savers with Northern Rock – the country's eighth-largest listed bank – can have confidence that the move does not reflect any underlying business problems, the Council of Mortgage Lenders said. Northern Rock was forced to ask for the ...
    2007-09-14 06:27:00

  • U.K. Props Up Mortgage Lender U.S. Stock Markets Down on Retail Sales ...

    Washington Post - The announcement that England's central bank had moved to bail out one of the country's largest mortgage lenders combined with a tepid report on August retail sales to initially deflate U.S. markets. The Dow Jones industrial average was down 80 points ...
    2007-09-14 08:07:00

  • UPDATE 2-Gloomy UK house price survey adds to mortgage woes

    Reuters UK - LONDON, Sept 14 (Reuters) - A survey pointing to a sharp slowdown in Britain's property market put further pressure on beleaguered mortgage lenders on Friday, dimming confidence in the country's economic outlook. Coming hours after British financial ...
    2007-09-14 07:31:00

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