Reuters - Europe's biggest bank HSBC Holdings
said first-half profits fell 28 percent to just over
$10 billion, in line with analysts' forecasts, as bad debts on
U.S. home loans and asset writedowns countered strong Asian
growth. -- read full article
Mon, 04 Aug 2008 08:51:31 GMT - Yahoo! News: Personal Finance News
Reuters - Analysts at Standard & Poor's Rating
Services warned against mortgage-related debt products in
internal e-mails that, in one case, called the complex
financial deals "ridiculous," the Wall Street Journal reported
in its weekend edition. -- read full article
Sat, 02 Aug 2008 16:36:36 GMT - Yahoo! News: Personal Finance News
Reuters - Lehman Brothers Holdings Inc
is in talks with prospective buyers, including BlackRock Inc,
to sell mortgage assets and other hard-to-value securities,
according to reports on Friday.
Reuters - IndyMac Bancorp Inc , once
one of the largest U.S. mortgage lenders, has filed for
bankruptcy protection, less than three weeks after being seized
by federal regulators following a bank run by depositors.
Reuters - U.S. mortgage market giants, Fannie
Mae and Freddie Mac , may report further
downgrades to their forecasts for credit losses in their
upcoming second-quarter results, starting next week. -- read full article
Fri, 01 Aug 2008 23:41:12 GMT - Yahoo! News: Personal Finance News
Reuters - Lehman Brothers Holdings Inc is in
talks with prospective buyers to sell about $30 billion in
commercial mortgage assets and other hard-to-value securities,
the New York Post reported on its website.
Reuters - Britain's financial watchdog has found
no evidence that illegal dealing was behind an abrupt fall in
the shares of mortgage lender HBOS in March, but
warned it would not relax its surveillance of the market.
Reuters - IndyMac Bancorp Inc , once
one of the largest U.S. mortgage lenders, has filed for
bankruptcy protection, less than three weeks after being seized
by federal regulators following a bank run by depositors.
AP - A North Carolina judge threw out a class-action lawsuit Thursday filed by North Carolina residents seeking refunds on income tax they paid on interest generated from out-of-state bonds. -- read full article
Fri, 01 Aug 2008 00:21:50 GMT - Yahoo! News: Personal Finance News
Reuters - Legislation that seeks to protect
college students from lending abuses while boosting student aid
was approved by Congress on Thursday. -- read full article
Fri, 01 Aug 2008 01:14:46 GMT - Yahoo! News: Personal Finance News
Reuters - Finance company GMAC LLC posted a
$2.48 billion second-quarter loss on Thursday, as rising gas
prices forced it to write down sport-utility vehicle leases,
while losses in its mortgage lending unit soared. -- read full article
Reuters - Freddie Mac , the
second-biggest provider of funding for U.S. residential
mortgages, on Thursday said it is boosting incentives to
mortgage servicing companies to help more borrowers renegotiate
loans in an effort to curb rising delinquencies. -- read full article
Reuters - Fidelity Investments' flagship Magellan
stock fund significantly boosted its holdings in June of
insurer American International Group and U.S.
investment bank Goldman Sachs , in a big reshuffle of its
financial sector exposure. -- read full article
Reuters - U.S. President George W. Bush on
Wednesday signed into law a sweeping rescue package aimed at
resurrecting the housing market from its worst slump since the
Great Depression and stabilizing the two largest mortgage
finance companies.
