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Banks Credit


  • IndyMac Bancorp Shares Fall; Sees Third-Quarter Loss Friday, 7 Sep 2007 | 10:46 AM ET

    IndyMac Bancorp, one of the largest independent U.S. mortgage lenders, said Friday that it might post a third-quarter loss as defaults rise and loan volumes decline, and its shares fell as much as 9.8 percent.

  • Zurich Financial Sees No Subprime Debt Surprises Friday, 7 Sep 2007 | 3:08 AM ET

    Zurich Financial Services has enjoyed a positive performance in its bond portfolio in the past two months with no surprises from its subprime exposure, Chief Executive James Schiro said on Friday.

  • Fed's Fisher Says Inflation Moving in Right Direction Thursday, 6 Sep 2007 | 5:14 PM ET

    Dallas Federal Reserve President Richard Fisher said on Thursday that there is still a lot of analysis ahead before the next Fed decision on interest rates.

  • Homebuilders Shares Add to Losses on Foreclosure News Thursday, 6 Sep 2007 | 1:46 PM ET

    Housing stocks were mostly lower Thursday after data showed new home foreclosures hit a record high in spring, giving the sector its third consecutive day of declines.

  • European stocks closed broadly higher Thursday after Europe's two most prominent central banks left rates unchanged to fully assess the effect of the recent turmoil in financial markets.

  • Subprime Woes Push New Foreclosures to Record High Thursday, 6 Sep 2007 | 10:41 AM ET
    A foreclosed home for sale.

    The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages.

  • Countrywide Financial to Cut 900 More Jobs Wednesday, 5 Sep 2007 | 8:14 PM ET

    Struggling mortgage lender Countrywide Financial said Wednesday it will cut about 900 more jobs nationwide, primarily from its mortgage production divisions.

  • Prices Up as Housing, Jobs Data Support Rate Cut Wednesday, 5 Sep 2007 | 12:58 PM ET

    U.S. government debt prices rallied Wednesday, sending benchmark yields to five-month lows, after weak housing and employment reports solidified bets that the Federal Reserve would cut interest rates this month.

  • Pending Home Sales Slide As Credit Tightens Wednesday, 5 Sep 2007 | 12:25 PM ET

    Pending sales of previously owned U.S. homes fell by a surprising 12.2% in July as credit tightened up amid troubles in the housing and subprime mortgage sectors, a real estate trade group said.

  • Deutsche Bank CEO: Banks Need to Be More Transparent Wednesday, 5 Sep 2007 | 12:10 PM ET

    Banks need to be more transparent about the distribution of their risk across the financial system in order to restore confidence among investors, Germany's top banker said on Wednesday.

  • Credit Market Turmoil 'Far From Over': Treasury Official Wednesday, 5 Sep 2007 | 11:27 AM ET

    A senior U.S. Treasury Department official warned Wednesday that turmoil in credit and mortgage markets was "far from over" and policy-makers must remain vigilant to the need to protect the broader economy.

  • BoE Breaks Silence, Acts to Calm Money Markets Wednesday, 5 Sep 2007 | 10:32 AM ET

    The Bank of England broke its silence on Wednesday over the current storm engulfing world financial markets and took steps to bring overnight interest rates down.

  • Euro zone growth next year could be weakened by the credit crisis triggered by high-risk U.S. mortgage debt, the chairman of euro zone finance ministers, Jean-Claude Juncker, said on Wednesday.

  • Housing Regulators Face Congressional Panel Wednesday, 5 Sep 2007 | 6:11 AM ET

    The worst housing slump in 16 years and upheaval in financial markets have cast a shadow on the economy, leading lawmakers to question federal regulators about the path ahead for anxious consumers.

  • Federal Home Loan Bank Mortgage 'Advances' Surge Tuesday, 4 Sep 2007 | 5:29 PM ET

    Mortgage-related loans by the Federal Home Loan Bank system to members surged 17 percent in August as "extraordinary events" upset credit markets, the FHLB's office of finance said on Tuesday.

  • Bonds Slip as Stocks Rise on Manufacturing Report Tuesday, 4 Sep 2007 | 3:18 PM ET

    Long-dated U.S. government debt prices slipped Tuesday as data showing U.S. manufacturing expanded in August drew money into stocks and away from bonds.

  • Mortgage Servicers Urged to Head Off Foreclosures Tuesday, 4 Sep 2007 | 1:49 PM ET

    U.S. banking regulators Tuesday urged mortgage servicers to be proactive and contact borrowers at risk of default to help them avoid foreclosure and keep their homes.

  • Student Loans Securitization Braces for A Blow Tuesday, 4 Sep 2007 | 12:41 PM ET

    The market for U.S. student loan asset-backed securities -- rattled already by the troubled mortgage-backed securities market -- expects another hit soon from legislation being finalized in Congress.

  • First American Cuts Jobs, NovaStar Survival at Risk Tuesday, 4 Sep 2007 | 12:19 PM ET

    Fallout from the U.S. housing slump on mortgage and real estate companies deepened Tuesday, as title insurer First American and subprime lender NovaStar Financial announced job cuts and NovaStar's auditor expressed doubt that the company will survive.

  • U.S. Housing Slump Could Spread Overseas Tuesday, 4 Sep 2007 | 11:10 AM ET

    Weakness in the U.S. housing market could trigger an international slide in home prices that depresses the sector for years, a top housing specialist warned central bankers Friday.