Mortgage and Financial News From 2007-11-14 Page 01

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• SoCal home sales, median price plunge in October

  San Diego Union-Tribune - Lenders have also cut back on so-called jumbo loans exceeding $417,000 – the current limit on the amount that government-backed mortgage companies Fannie Mae and Freddie Mac will buy from lenders. Those restrictions have stung would-be buyers in ...
  2007-11-14 01:40:00

• Merrill taps NYSE's Thain as CEO

  CNN Money - feed://rss.cnn.com/rss/money_news_companies.rss ... by Stanley O'Neal, who resigned less than a month ago in the wake of Merrill's $8 billion loss on risky subprime mortgage ...
  2007-11-14 03:49:00

• Downturn may leave builders bankrupt

  Boston Globe - ... federal investigations of its business practices and is planning to restate financial reports after an internal probe found employees in its mortgage unit violated federal lending rules. As the housing industry shakeout continues, smaller companies ...
  2007-11-14 10:44:00

• Soft Landings for CEOs

  BusinessWeek - ... chief executive of a major financial services firm will be the next to fall victim to the subprime mortgage mess—or when. But should the fallout spread, one thing is certain: Many of the executives currently running financial services companies ...
  2007-11-14 11:20:00

• WH Smith Sales Drop Eases as Price Cuts Draw Shoppers (Update1)

  Bloomberg - In addition to rival retailers, WH Smith must contend with pressure on consumer spending stemming from higher mortgage payments, taxes, utility bills and food prices. U.K. companies including clothes seller Next Plc have said this year's second half ...
  2007-11-14 11:27:00

• Milken sees more mortgage than high-yield defaults

  Reuters - LONDON, Nov 14 (Reuters) - Financier and philanthropist Michael Milken, regarded as the father of the high-yield bond market, warned on Wednesday that defaults would be higher on highly rated pools of mortgages than on highly indebted companies. But ...
  2007-11-14 02:16:00

• Tax income increases in '07

  News-Star - Taxpayers are reminded to ensure their individual mortgage companies have received a tax notice if taxes are escrowed with mortgage payments. Notices may need to be forwarded to the company. The assessor's office recommends addressing any concerns ...
  2007-11-14 10:51:00

• Bear Stearns Fund, Battered by Subprime Woes, Seeks to Dissolve

  Bloomberg - A surge in defaults of poor-quality home loans has prompted more than 110 mortgage companies to close, seek bankruptcy protection or put themselves up for sale since the start of 2006. $1.6 Billion Bailout Bear Stearns' master ...
  2007-11-14 10:16:00

• Vestin Realty Mortgage II, Inc. Announces the Exploration of a Possible Merger With Vestin Realty Mortgage I, Inc. (Business Wire via Yahoo! Finance)

  LAS VEGAS----Vestin Realty Mortgage II, Inc. a real estate investment trust announced that its Board of Directors has begun exploration of the possibility of acquiring Vestin Realty Mortgage I, Inc. through a merger or other combination of the two "REITs".
  2007-11-14 10:50:00

• Strong dollar will lead Canadian companies to invest in IT, says CGI (The Canadian Press via Yahoo! Canada News)

  MONTREAL - Information-technology services firm CGI Group Inc. (TSX:GIB.A) expects the strong loonie will prompt Canadian companies to invest more in IT systems and clear its own path to more U.S. acquisitions.
  2007-11-14 01:54:00

• NYSE's John Thain to run Merrill Lynch

  The Australian - A broker with 20 years experience at Merrill Lynch, who didn't want to be named, said: "I hope he does elevate our side of the business in the executive suite so we get the respect we deserve." But brokers hope his institutional experience will pay ...
  2007-11-14 06:26:00

• Merrill Names Thain First Outsider to Head Top Broker (Update3)

  Bloomberg - Merrill Names Thain First Outsider to Head Top Broker (Update3) By Edgar Ortega and Bradley Keoun ... California-based lender First Franklin Financial on Dec. 30, just two days after the bankruptcy of another subprime mortgage ...
  2007-11-14 03:56:00

• InterSearch Reports Third Quarter 2007 Financial Results

  MSN MoneyCentral - Enhanced Banks.com with the addition of a comprehensive bank and mortgage broker directory, rotating blog modules, robust video content and 10 new financial calculators. Fourth Quarter 2007 Business Outlook InterSearch Group ...
  2007-11-14 01:12:00

• NovaStar Financial Announces Third-Quarter 2007 Results and Third Quarter Investor Conference Call (FinanzNachrichten)

  KANSAS CITY, Mo., Nov. 14 /PRNewswire-FirstCall/ -- NovaStar Financial, ( Nachrichten ) Inc. , a non-conforming residential mortgage portfolio manager and retail broker of mortgage loans, today reported third-quarter 2007 results.
  2007-11-14 02:33:01

• E-Trade scores double-digit gains, recovering from sell-off (Market Watch)

  Is E-Trade Financial Corp. back? After opening the week by losing more than half its market value in one day, shares of the mortgage-muzzled online broker and bank continued an impressive climb Wednesday.
  2007-11-14 09:33:46

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