Mortgage and Financial News From 2007-10-17 Page 5

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  • Morgan Stanley Cuts 300 Jobs in Securities Division (Update2)

    Bloomberg - Oct. 17 (Bloomberg) -- Morgan Stanley, the world's second- biggest securities firm, is eliminating about 300 jobs after ... Wall Street firms are slashing units that provide financing for leveraged buyouts and package mortgages and other loans into ...
    2007-10-17 04:03:00

  • Washington Mutual's 3rd-quarter profit shrinks on bad mortgages

    Seattle Post Intelligencer - Washington Mutual's 3rd-quarter profit shrinks on bad mortgages By CURT WOODWARD ASSOCIATED PRESS WRITER OLYMPIA, Wash ... Washington Mutual's profit margin from lending shrank slightly versus the second quarter as the bank needed to borrow money ...
    2007-10-17 02:16:00

  • E*Trade reports 3rd-quarter loss, cuts year outlook

    MSN MoneyCentral - It said earlier it would exit the wholesale mortgage business and restructure its loan mix by allowing home equity loans and second-lien mortgages to bleed off. The brokerage is now focusing on making loans to retail customers and purchasing ...
    2007-10-17 03:42:00

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

    Reuters - By Jonathan Stempel NEW YORK (Reuters) - Residential Capital LLC, the mortgage unit of GMAC Financial Services, said on Wednesday it will eliminate 3,000 jobs, or 25 percent of its work force, to cope with the U.S. housing downturn. The second ...
    2007-10-17 03:06:00

  • S&P Cuts $23.4 Billion of 2007 Subprime, Alt-A Debt (Update3)

    Bloomberg - The cuts were also on second-lien subprime loans, those given for second mortgages. While 2007 bonds don't have a long payment history, they are already demonstrating similar risks as 2006 securities, S&P said. S&P is ...
    2007-10-17 01:55:00

  • S&P, Nasdaq close higher, Dow pares losses

    MSNBC - Standard & Poor’s cut the ratings on 1,713 classes of securities backed by mortgages issued in the first six months of this year. They were valued at $23.35 billion. The Dow fell 20.40, or 0.15 percent, to 13,892.54, paring the session’s worst ...
    2007-10-17 05:15:00

  • Washington Mutual's Profit Falls on Bad Mortgages (Update3)

    Bloomberg - Late payments on U.S. subprime mortgages surged to a five-year high in the second quarter, according to the Mortgage Bankers Association. That brought markets for securities backed by the loans to a standstill in the third quarter, forcing Washington ...
    2007-10-17 03:56:00

  • E*Trade reports 3rd-quarter loss, cuts year outlook (Reuters via Yahoo! News)

    U.S. online brokerage E*Trade Financial Corp posted a third-quarter loss on Wednesday on higher loan-loss provision and write-downs in the value of securities holdings, and lowered its full-year forecast for the second time in a month.
    2007-10-17 03:19:33

  • Washington Mutual profit falls 72 pct on loan loss (Reuters via Yahoo! News)

    Washington Mutual Inc , the largest U.S. thrift and one of the nation's largest home loan providers, said on Wednesday third-quarter profit fell 72 percent, hurt by mounting losses and write-downs related to mortgages.
    2007-10-17 01:25:52

  • Washington Mutual's Profit Falls on Bad Mortgages (Update1) (Bloomberg.com)

    Oct. 17 (Bloomberg) -- Washington Mutual Inc., the largest U.S. savings and loan, said third-quarter profit fell 72 percent as the company wrote off bad home loans.
    2007-10-17 01:43:04

  • Washington Mutual's Profit Falls on Bad Mortgages (Update2) (Bloomberg.com)

    Oct. 17 (Bloomberg) -- Washington Mutual Inc., the largest U.S. savings and loan, said third-quarter profit fell 72 percent as the company wrote off bad home loans. The shares fell in extended trading.
    2007-10-17 02:42:41

  • Washington Mutual's Profit Falls on Bad Mortgages (Update3) (Bloomberg.com)

    Oct. 17 (Bloomberg) -- Washington Mutual Inc., the largest U.S. savings and loan, said third-quarter profit fell 72 percent as the company wrote off bad home loans. The shares fell 4 percent in extended trading.
    2007-10-17 04:12:41

  • Mortgage policy hits property investors hard (China Daily)

    Yang Ping, a 30-year-old business reporter, hasn't slept well since September 27, when the central bank raised the down payment for mortgages to 40 percent for second apartments.
    2007-10-17 05:56:46

  • Market Insider: Techs Catch the Big Fish

    CNBC - Washington Mutual, hurt by mortgage losses, said it sees no end in ... thinking I know something, I'm doing something, because I only--I can only set them up when I know nothing. And so it just keeps on going along.
    2007-10-17 05:22:00

  • Forex - US dollar extends losses against major currencies on weak ...

    Forbes - ... 56 percent chance of the Federal Reserve cutting interest rates by 25 basis points at its meeting on October 31, compared with 38 percent chance on Wednesday. ... 23.35 billion US dollars worth of sub-prime mortgage backed ...
    2007-10-17 05:01:00

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