Mortgage and Financial News From 2007-10-17 Page 15

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• Economy is at risk, Treasury chief says

  Charlotte.com - After months of downplaying the nation's mortgage mess, Treasury Secretary Henry Paulson conceded Tuesday it represents "the most significant current risk to our economy." He called for Congress and private mortgage companies to move more quickly to ...
  2007-10-17 11:53:00

• U.S. Stocks Fall, Led by Financial, Energy Shares; MGIC Tumbles

  Bloomberg - Oct. 17 (Bloomberg) -- U.S. stocks fell for a third day, led by financial companies and energy producers, on concern that mortgage-market losses will accelerate and refiners' profits will be hurt by lower gasoline and heating oil prices. MGIC ...
  2007-10-17 10:34:00

• Bill Alters Bankruptcy Code to Help Homeowners

  NPR News - Treasury Secretary Henry Paulson has urged large companies in the mortgage business, such as Morgan Stanley, to help homeowners by refinancing their loans. Doing so would help the companies as well. Crippling Markets, Homeowners Delinquencies ...
  2007-10-17 11:24:00

• Morgan Stanley cuts 300 credit jobs

  CNBC - During the summer, thousands of jobs were lost as mortgage companies buckled amid the skyrocketing pace of foreclosures and defaults. Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or ...
  2007-10-17 12:00:00

• Mortgage lender to cut staff 25%

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... it is cutting 3,000 jobs, or 25 percent of its already reduced staff, in the latest fallout from the meltdown in mortgage ...
  2007-10-17 10:49:00

• Thornburg Falls After Cash Shortage Halts Dividend (Update3)

  Bloomberg - At least 100 mortgage companies have halted some operations or left the business this year as U.S. foreclosures climbed to a record. Scrapping the payout, set at 68 cents a share for the last 11 quarters, may signal that turmoil in the U.S. mortgage ...
  2007-10-17 08:54:00

• U.S. Stocks Retreat, Led by Financial, Energy Companies

  Bloomberg - Oct. 17 (Bloomberg) -- U.S. stocks fell, led by financial companies and energy producers, on concern that mortgage-market losses will accelerate and refiners' profits will be hurt by lower gasoline and heating oil prices. MGIC Investment Corp., the ...
  2007-10-17 10:13:00

• UPDATE 3-GMAC's ResCap mortgage unit to cut 3,000 jobs

  Reuters - FACTBOX-U.S. financial companies cut jobs ... NEW YORK, Oct 17 (Reuters) - Residential Capital LLC, the mortgage unit of GMAC Financial Services, said on Wednesday it ...
  2007-10-17 12:22:00

• Sector Snap: Mortgage Insurance (AP via Yahoo! Finance)

  Shares of mortgage insurers plummeted Wednesday after MGIC Investment Corp. reported hundreds of millions of dollars in losses because of unpaid home loans.
  2007-10-17 10:11:05

• Treasury chief urges fast mortgage relief from Congress (Houston Chronicle)

  Treasury Secretary Henry Paulson said Tuesday the unfolding housing crisis posed a significant risk to the economy and called for Congress and private mortgage companies to move more quickly to help.
  2007-10-16 10:35:36

• U.S. Stocks Retreat, Led by Financial, Energy Companies (Bloomberg.com)

  Oct. 17 (Bloomberg) -- U.S. stocks fell, led by financial companies and energy producers, on concern that mortgage-market losses will accelerate and refiners' profits will be hurt by lower gasoline and heating oil prices.
  2007-10-17 10:24:57

• Broker Action For Wednesday, Oct. 17

  Forbes - Business News Bulletin Broker Action For Wednesday, Oct. 17 Evelyn Rusli 10.17.07, 11:00 AM ET ... On Tuesday, the bank said it took a $490 million hit from mortgage losses. The report disappointed the analyst, who said he ...
  2007-10-17 08:04:00

• Friends remember

  Longview News-Journal - I always thought of him as a good, honorable man," said Ethel Branch, who was a mortgage broker in the early 1970s when Williams was working full time at what was then Schlitz Brewery and earning income part time with his real estate license ...
  2007-10-17 08:33:00

• Ankeny council delays sign law

  Des Moines Register - This ordinance goes way too far," local mortgage broker Aaron Moulton said, submitting to the council a petition against the ordinance with the signatures of 195 real estate agents, developers, builders, business owners and residents. Moulton said the ...
  2007-10-17 09:08:00

• Ray White mortgage merges with X Inc

  Nine MSN - I don't think it's a good time for a mortgage broker to be talking about listing anyway," she said. But Ms Neilson wouldn't rule out a listing in the longer term. The group wants to have a $30 billion loan book in exactly three years time. "That's the ...
  2007-10-17 01:30:00

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