Mortgage and Financial News From 2007-12-18
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Centro shares plummet as it struggles to refinance debt in subprime ...
International Herald Tribune - ... Group, the owner of 700 U.S. shopping malls, slumped 76 percent Monday after the company said it was struggling to refinance ... Investors, concerned that losses on securities backed by U.S. home loans would increase, have shunned all but the safest ...
2007-12-18 05:36:00 -
U.K. Stocks Rise, Led by Debenhams, Aggreko; Home Retail Gains
Bloomberg - Home Retail Gains By Adam Haigh Dec. 18 (Bloomberg) -- U.K. stocks advanced, led by retailers after Debenhams Plc said ... The owner of western Europe's biggest coal-fired power plant scrapped plans to refinance debt and said full-year profit will ...
2007-12-18 05:58:00 -
Centro, Facing Debt Deadline, Won't Rush Asset Sales (Update4)
Bloomberg - He needs to refinance A$3.9 billion ($3.4 billion) of debt for the Australian company and the listed trust it manages by Feb. 15. Centro owns 700 U.S. shopping centers including the Roosevelt Mall in Philadelphia and Clearwater Mall in Florida after ...
2007-12-18 03:41:00 -
EU pushes for more cross-border mortgages, easier home foreclosure
International Herald Tribune - ... land registration procedures" because they raise costs for mortgage lenders and make investors less willing to take on housing loans or refinance existing mortgages, it said. The EU executive said it would ask EU countries next year to make sure home ...
2007-12-18 07:45:00 -
Australian Home Repossessions Soar In 2004-2006 - Survey (Nasdaq)
SYDNEY -(Dow Jones)- The rate of home repossessions in parts of Australia soared almost 80% in the years from 2004 to 2006, with significant increases in the use of pension funds for refinancing, according to a survey released Tuesday.
2007-12-17 02:59:28 -
Michigan, Ohio lead credit losses for Fannie Mae \
Fort Worth Star-Telegram - ... population growth and low demand for housing, Michigan and Ohio rank No. 1 and 2 on mortgage finance company Fannie Mae's list of states with the largest credit ... The underlying economies of Michigan and Ohio are that bad relative to California and ...
2007-12-18 04:03:00 -
Bank seeks to ease credit worries
BBC Business - ... Bank of England is set to offer lenders an extra £10bn in funds as it tries to limit the impact of a global credit ... A surge in mortgage defaults and bad debts has forced many banks to cut the value of their mortgage investments, costing them billions ...
2007-12-17 11:24:00 -
Spectre of nationalisation looms over Northern Rock
Guardian Unlimited - A deepening credit market crisis, however, has left funding tight and expensive and ... cuts or the loss of billions of pounds of taxpayers money would all create bad ... nationalisation would seem an extreme response -- maintaining capacity in a mortgage ...
2007-12-18 06:12:00 -
ECB lends $500bn to lower rates
BBC News - ... above a certain interest rate, since 9 August when the credit crisis started. Central bank coordination The main reason banks have been unwilling to lend to each other is a downturn in the US property market. A surge in mortgage defaults and bad ...
2007-12-18 03:56:00 -
Shares in Centro Plummet for 2nd Day
Forbes - ... plunged for a second day Tuesday because of problems linked to the global credit ... Problems in the U.S. subprime mortgage market have forced it to look for expensive ... The broader Australian stock market, which reacted to Centro's bad news on ...
2007-12-18 04:39:00 -
ANALYSIS-Distressed debt hedge funds to shine in 2008
Forbes - ... the must-have trade of 2007 as rising interest rates caused more and more high-risk U.S. mortgage ... 29 percent from the start of this year to end-November, behind a 12.04 percent gain in the Credit Suisse/Tremont Hedge Fund Index -- and the bad ...
2007-12-18 05:43:00 -
Q&A: How will the extra billions help borrowers?
Times Online - Mortgage lenders desperate to ease their funding problems snapped up the £10 billion ... around the world have been affected by these defaults, billions of pounds of bad ... and these have been getting more expensive in recent months because of the credit ...
2007-12-18 07:23:00 -
Housing Construction Hits 16-Year Low
Los Angeles Times - In a bad sign for future activity, the government reported that applications for ... of defaults on subprime mortgages, loans offered to borrowers with weak credit ... Housing Construction Hits 16-Year Low - Fed to Unveil Home Mortgage Plan - Turkish Army ...
2007-12-18 05:36:00 -
More mortgage relief is urged (Seattle Times)
Support is growing on several fronts in Washington, D. C., for mortgage-industry reforms and homeowner-assistance programs with broader...
2007-12-18 12:33:59 -
Momentum builds for mortgage reform (Inside Bay Area)
SUPPORT is growing on several fronts in Washington for mortgage-industry reforms and homeowner-assistance programs with broader potential impact than the Bush administration's plan to freeze interest
2007-12-18 03:12:33