subprime mortgages – News Stories About subprime mortgages - Page 14

Jul 10, 2007 5:24 AM CDT

New Flood of Foreclosures Looms

Adjustable borrowers face up to 35% spikes in mortgage payments

(Newser) - When adjustable-rate mortgages are increased this year, hundreds of thousands of subprime borrowers could lose their homes, triggering a precipitous drop in the housing market, CNNMoney reports. The threat is the latest in the emerging subprime loan crisis. Heartland industrial areas, as well as once-hot markets in California, Nevada and...

Brokers Faulted
in Subprime Mortgage Mess

Jul 5, 2007 3:28 PM CDT

Brokers Faulted in Subprime Mortgage Mess

Key sellers are poorly supervised, often unethical

(Newser) - With the mortgage industry in full scandal mode, the Wall Street Journal takes a look at the role of brokers. Contractors for the large lenders, brokers stand accused of issuing loans that borrowers “didn’t understand, couldn’t afford or were otherwise ill-suited for.” They issue about three-quarters...

Bad US Loans Sink London Hedge Fund

Jun 29, 2007 4:26 AM CDT

Bad US Loans Sink London Hedge Fund

Subprime mortgage crisis ripples through world market

(Newser) - A London hedge fund is the latest casualty of the US subprime mortgage crisis that has already hit American investment companies, the Financial Times reports. After losing 53% of its value, Caliber Global Investment will sell its assets and try to repay $900 million to investors over the next...

SEC Opens Subprime Probe

Jun 27, 2007 2:17 PM CDT

SEC Opens Subprime Probe

Cox announces investigations into CDOs in wake of Bear Sterns tremors

(Newser) - The feds are investigating the controversial bundles of financial services that have recently shaken the market and sparked a spate of leveraged buyouts, the Journal reports. SEC chief Christopher Cox told a congressional panel yesterday that "about 12 investigations" were under way into CDOs, shared debt packages reliant on...

Consumer Confidence,
New Home Sales Slump

Jun 26, 2007 12:13 PM CDT

Consumer Confidence, New Home Sales Slump

Grim economic indicators continue to stack up

(Newser) - Indicating that the topsy-turvy economy probably won't be righting itself anytime soon, consumer confidence dropped in May, as did new home sales, a signal that the reeling housing market has yet to hit bottom. The Fed will likely take up consumer worries at a 2-day meeting that starts tomorrow, Bloomberg...

Home Sales Plunge to
4-Year Low

Jun 25, 2007 6:27 PM CDT

Home Sales Plunge to 4-Year Low

Inventory glut, rising mortgage rates bode ill for quick rebound

(Newser) - Sales of existing homes fell again last month, while the number of homes languishing on the market hit a 15-year high. The median price sank to $223,700, the AP reports, and thanks in part to the woes of the subprime mortgage sector, overall sales were 10.3% below last...

Hedge Fund Crisis Could Be 'Tip of Iceberg'

Jun 21, 2007 5:54 AM CDT

Hedge Fund Crisis Could Be 'Tip of Iceberg'

Suprime selloff, Bear Sterns collapse will test markets' elasticity

(Newser) - The near-collapse of a $20 billion pair of hedge funds has left Wall Street jittery, though not yet in panic mode, the Journal reports. Speculation about the fate of the Bear Stearns funds rippled through yesterday's markets, where stocks and bonds dipped widely; news that banks were struggling to unload...

Morgan Stanley 2nd Quarter Wallops Rivals

Jun 20, 2007 10:23 AM CDT

Morgan Stanley 2nd Quarter Wallops Rivals

Profits spike 40% as subprime slump smacks rest of sector

(Newser) - Morgan Stanley released far better-than-expected earnings figures today, with net income up over 40% in the last quarter. Riding strong fixed-income sales and trading figures, profits rose to $2.58 billion, up from $1.84 billion last year. That's a far cry from rivals Goldman Sachs and Bear Stearns, whose...

Outlook Bearish for Bear Sterns Hedge Funds

Jun 20, 2007 7:02 AM CDT

Outlook Bearish for Bear Sterns Hedge Funds

Managers scramble after creditors nix bailout plan

(Newser) - Two major Bear Stearns hedge funds that once controlled more than $20 billion in assets are on the brink of collapse after disastrous losses in securities backed by subprimes. The Journal reports a bailout plan that would have kept the funds afloat fractured last night, and the consequences could ripple...

Home Foreclosures Hit Record

Jun 14, 2007 3:16 PM CDT

Home Foreclosures Hit Record

A dreary real estate market is fueling an all-time high rate of foreclosures

(Newser) - Home foreclosures hit a record high in first-quarter 2007 as more subprime borrowers failed to make their mortgage payments. The number of mortgages entering foreclosure spiked four basis points to 0.58% and over 2.4% of subprime mortgage holders defaulted, up from 2% last quarter, according to a report...

Mortgage Trouble Rattles Wall Street

Jun 14, 2007 10:54 AM CDT

Mortgage Trouble Rattles Wall Street

Bear Stearns, Goldman earnings reflect subprime bloodbath

(Newser) - Bear Stearns posted a 10% drop in quarterly earnings today, the latest victim of the subprime collapse. The country's second-largest mortgage-bond underwriter posted profits well below expectations, down nearly 33% from last year to $362 million. Goldman Sachs escaped bruised but more-or-less unscathed, with profits up 1% on the strength...

Bernanke Keeps Interest Rate Steady

Mar 29, 2007 8:15 AM CDT

Bernanke Keeps Interest Rate Steady

Sees housing crisis as risk, but doesn't see recession

(Newser) - With inflation creeping up, Fed chairman Ben Bernanke will keep interest rates steady—at least for now, reports the Wall Street Journal. Soft business investment and weakening housing are becoming serious risks, but the long-term outlook is good, Bernanke told Congress yesterday. "The current stance of monetary policy is...