Mortgage and Financial News From 2007-12-19 Page 7

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• Banks snap up first $20bn at Fed auction

  Daily Telegraph - Banks flocked to take advantage of the Federal Reserve's latest move to ease the credit crisis, unveiled recently as part ... Senate's banking committee, said that he believed the Fed's planned rules on stamping out some of the excesses of bad mortgage ...
  2007-12-19 04:33:00

• Stocks fight credit headwind

  CNN Money - In a troubling sign of more credit market turmoil, bond insurer ACA Financial ... on top of the $3.7 billion it had already announced, due to the subprime mortgage mess ... And in the latest bad news for the housing sector , the level of foreclosures was ...
  2007-12-19 10:43:00

• Morgan Stanley's Bad Moment

  Forbes - Market Scan Morgan Stanley's Bad Moment Evelyn M. Rusli , 12.19.07, 3:20 PM ET ... The rapidly depreciating value of mortgage-related assets and the general turmoil in the credit markets has punished Morgan Stanley and most of the rest of ...
  2007-12-19 12:30:00

• Wall Street finishes volatile session in mixed range amid renewed ...

  San Diego Union-Tribune - Not all of Wednesday's news was bad. Morgan Stanley managed to get a $5 billion investment from ... Central banks also have been working to help bring demand back to the tight credit markets, which froze up over the summer as mortgage defaults spiked.
  2007-12-19 02:25:00

• Treasurys Rise, S&P Slashes ACA Rating

  Forbes - In another sign that the credit markets remain troubled, Morgan Stanley Wednesday reported a $9.4 billion writedown from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government. Earlier ...
  2007-12-19 02:46:00

• Fed provides $20 billion in loans to banks to help them through credit ...

  International Herald Tribune - The credit problems and a severe housing slump are raising the odds that the country could fall into a recession. Financial companies have taken multibillion-dollar hits because of bad mortgage loans. Home foreclosures have hit record highs. Wall ...
  2007-12-19 06:06:00

• Fed to loan banks $20 billion to ease credit crunch (Houston Chronicle)

  The Federal Reserve is providing $20 billion in loans to banks as part of an unprecedented auction process to ease a global credit crisis and make sure financial institutions can keep lending to their customers.
  2007-12-19 07:43:17

• Fed Gives $20 Billion to Banks in Credit Crisis (NYTimes.com via Yahoo! Finance)

  The Federal Reserve is providing the loans as part of an unprecedented auction process to ease a global credit crisis and make sure financial institutions can keep lending to customers.
  2007-12-19 10:53:53

• Stocks Turn Lower on Credit Worries (NYTimes.com via Yahoo! Finance)

  Wall Street fell after ratings agencies gave investors reason to believe that the credit markets might remain tight for longer than expected.
  2007-12-19 11:55:53

• Morgan Stanley posts loss on writedown (AP via Yahoo! News)

  Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government.
  2007-12-19 02:28:18

• Local lenders unaffected by mortgage credit crisis (The Martha's Vineyard Times)

  A nationwide trend of failed mortgages is costing some borrowers their homes, driving down real estate values, and even threatening giant banks and the national economy.
  2007-12-19 05:48:43

• Fed gives $20B to banks in credit crisis (AP via Yahoo! News)

  Cash-strapped banks took the Federal Reserve up on its offer of $20 billion in short-term loans to help them overcome credit problems, but the interest rate wasn't as low as some had hoped.
  2007-12-19 02:59:50

• Stocks Trade Mixed Amid Lingering Credit Worries - Asian Commentary (Nasdaq)

  (RTTNews) - Stock markets across the Asia-Pacific region were trading mixed early Thursday after the U.S. stocks closed mixed overnight on credit worries. Morgan Stanley, second-ranked U.S. investment bank, reported a US$9.4 billion writedown on Wednesday from bad bets on mortgage-related debt.
  2007-12-19 06:59:39

• Commercial property prices up in October -Moody's

  Reuters - ... has since eased, and derivatives tied to the securities have broken their fall as traders expecting deeper declines reverse ... Delinquency rates on risky residential mortgages are in the double-digits. Moody's said the decline in September's commercial ...
  2007-12-19 12:09:00

• Stocks reverse course on renewed credit market concerns; Morgan ...

  CNBC - Stocks reverse course on renewed credit market concerns; Morgan Stanley reports 4Q loss ... Because of its losing bets on mortgages, Morgan Stanley said Wednesday it was forced to take a writedown of $9.4 billion. The ...
  2007-12-19 09:10:00

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