Yahoo! News: Stock Markets News
Reuters - Stocks fell on Monday, but the market managed to make a modest advance in 2007 after gains in energy and technology offset the dramatic sell-off in financials from the mortgage market meltdown.
NEWS.com.au | Business | Breaking News
US stocks fell on Monday, but the market managed to make a modest advance in 2007 after gains in energy and technology offset the dramatic sell-off in financials from the mortgage market meltdown.
Newsday.com - Business
The year just past was not a good one for the stocks of Long Island's publicly-traded companies, which fell 11.5 percent overall, pulled down mostly by two companies involved in the mortgage industry crisis.
Barron's Markets
Shares of MBIA and AMBAC stand beside mortgage and housing stocks as some of the 2007's biggest casualties. But at least one may have found its bottom.
MSNBC.com: Business
Mortgage insurers saw defaults rise to a new monthly record in November, according to data published Monday by an industry trade group.
MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- Horizon Bancorp said Monday that it increased its provision for loan and lease losses expense by $1.4 million in December, citing credit quality deterioration in its wholesale mortgage and indirect auto loan portfolios. The commercial bank-holding company expects its fourth-quarter provision expense to total $1.77 million, compared to the third-quarter provision of $550,000. However, Horizon still sees 2007 full-year earnings exceeding those of 2006.
SmartMoney.com - Headlines
The home lender took a beating in 2007 as the mortgage boom went bust.
Sky News | Business | First For Breaking News
Shares in Alliance & Leicester bank leapt almost 9% after reports that the mortgage lender had held talks with Spain's Banco Santander, the owner of Abbey.
Reuters: Business News
NEW YORK (Reuters) - As more banks report write-downs tied to the global credit crunch, analysts say Wachovia Corp may have losses lurking in an area that has garnered less investor attention.
Yahoo! News: Business
Reuters - As more banks report write-downs tied to the global credit crunch, analysts say Wachovia Corp may have losses lurking in an area that has garnered less investor attention.
L.A. Times - Business
Officials allege a scam used phony appraisals and paperwork to wring millions from deals in the Beverly Hills area. Kathy Moore's loan application sailed through the mortgage desk at Lehman Bros. Bank, and little wonder.
chicagotribune.com - Business
1. The housing market suffered its worst slump since the Depression and foreclosures soared as the collapse of the subprime mortgage market rattled banks around the world. Financial service companies were expected to report one of their worst years ever, and the Federal Reserve is proposing tighter lending rules to protect consumers and rein in irresponsible lenders.
WSJ.com: What's News US
The subprime industry succeeded in defeating state efforts to limit risky lending to borrowers with weak credit during the housing boom. Ameriquest, until recently one of the biggest lenders, distributed over $20 million in political donations and swayed lawmakers in New Jersey and Georgia.
Newsday.com - Business
Tax revenue is down considerably across the nation, creating budget shortfalls and forcing hard choices on what to cut. Dozens of states, counties and cities across the nation will enter the new year facing deep and unexpected budget holes as the widening mortgage crisis cuts sharply into tax revenue.
washingtonpost.com - Business
The Washington region's financial sector reflects the industry nationwide, with stock prices dropping, companies incurring losses from sour mortgages and private-equity investors pulling back on takeovers because of tighter lending.
Newsvine - business - Vine
I guess the simple answer is...you did not hire people as smart as Goldman Sachs did. Seriously, the CDO disaster and general mortgage malaise caught almost everyone by surprise, with Goldman Sachs really only saved by a handful of traders who bet the right way.
Newsvine - business - Vine
Merrill Lynch is in more trouble than it cares to admit and the recent investment by Singapore's Temasek does not appear to be enought to stave off questions about the extent of the banks exposure to bad loans in the mortgage market.
The Seattle Times: Business, Technology
Internet sales by U.S. retailers rose at the slowest pace on record as $3-a-gallon gasoline and rising mortgage defaults weighed on holiday...
USATODAY.com Money - Top Stories
Spooked by the credit crisis, investors have yanked billions of dollars from stock and bond mutual funds since the mortgage meltdown ...
Business News from Times Online
Savers were dealt a blow after it emerged that Halifax, Nationwide and Bradford & Bingley are to cut savings rates by more than a quarter-point after the base-rate cut this month.