Mortgage and Financial News From 2007-10-12 Page 2

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  • Virgin team submits proposal to Northern Rock

    Financial Times - ... octane consortium led by Virgin Group submitted a proposal on Friday to take over Northern Rock , a deal that would reverse ... Virgin bid is being be led by Jayne-Anne Gadhia, chief executive of Virgin Money and a former managing director of mortgages ...
    2007-10-12 02:26:00

  • Branson vows to save 'nearly all' Rock jobs

    Daily Telegraph - ... the stock market, though its brand would be replaced by Virgin Money, to create a financial services company selling mortgages ... Sir Richard is proposing to reverse Virgin Money into Northern Rock and then inject a “substantial cash sum” into the ...
    2007-10-12 06:04:00

  • More News (Gazette.Net)

    First Mariner Bancorp, the Baltimore parent of First Mariner Bank that was founded in 1995, showed a net loss of $3.9 million for its 2007 second quarter, compared with a profit of $2.2 million in the same period in 2006.
    2007-10-12 02:57:21

  • Branson vows to save 'nearly all' Rock jobs (Daily Telegraph)

    Sir Richard Branson has formed a consortium, which includes US billionaire Wilbur Ross and a Hong Kong investment fund, to rescue Northern Rock. He published details yesterday of his proposal to fold the beleaguered mortgage business into his Virgin empire.
    2007-10-12 05:17:12

  • Virgin team submits proposal to Northern Rock (FT.com via Yahoo! News)

    A high-octane consortium led by Virgin Group submitted a proposal on Friday to take over Northern Rock, a deal that would reverse the hamstrung bank in a manner similar to the way in which Sir Richard Branson turned NTL into Virgin Media.
    2007-10-12 08:20:18

  • Centex says home sales fell 13 percent in its 2nd-qtr, plans $1B land ...

    CNBC - ... buyers are able to get mortgages, and the glut of unsold homes is being made worse by speculators who bought houses in recent years putting them back on the market. Centex said preliminary results show net sales dropped to 5,953 units in its second ...
    2007-10-12 02:15:00

  • On Deck: Week of Reckoning for Big Banks

    Forbes - ... of America Corp., JPMorgan Chase & Co. and their rivals lost from the volatile fixed-income market, defaulting home mortgages ... JPMorgan also reported excess cash in the second quarter, which should help offset debt. And Morgan Stanley analysts ...
    2007-10-12 02:58:00

  • Foreclosure Auctions: The Good, The Bad, and The Foreclosed

    WTEV - First off, know how to do a title search, and find out if there's a second or third mortgage on the home. According to consumeraffairs.com, you're responsible for those mortgages, as well as any liens on the property. On top of that, many of these ...
    2007-10-12 01:32:00

  • The Hard Road Ahead

    FXStreet.com - Some participants also felt that the further tightening of terms for equity lines of credit and second mortgages would weigh on consumer spending. As for capital spending, their contacts indicated business executives in some parts of the country had ...
    2007-10-12 12:39:00

  • Banks wrangle for deposits

    CNBC - NEW YORK (AP) - Amid all the noise about mortgages going sour and the difficulties banks are having unloading corporate debt ... It grew 4 percent between the second quarter of 2006 and the second quarter of 2007, after growing 8.6 percent the previous ...
    2007-10-12 01:25:00

  • Centex to Take Almost $1 Billion in Charges (Update1)

    Bloomberg - Home closings and orders fell in the second quarter ended Sept. 30, the Dallas-based company said today in a statement. Sales are tumbling for homebuilders as mortgages are harder to get and consumer confidence in the housing market is weak ...
    2007-10-12 04:49:00

  • Banks battle for deposits (The Post and Courier)

    NEW YORK — Amid all the noise about mortgages going sour and the difficulties banks are having unloading corporate debt, it can be easy to overlook their core business — plain, old-fashioned deposits, the kind Grandma drives to her local branch to make. They're a huge source of...
    2007-10-12 09:51:34

  • Banks Wrangle for Deposits (AP via Yahoo! Finance)

    Amid all the noise about mortgages going sour and the difficulties banks are having unloading corporate debt, it can be easy to overlook their core business -- plain, old-fashioned deposits, the kind Grandma drives to her local branch to make.
    2007-10-12 01:13:01

  • Wall Street Beat: Google, VMware, Business Objects shine (InfoWorld via Yahoo! News)

    IT investor confidence in technology is gaining strength. This week, vendors as diverse as Google, Business Objects, and VMware led the tech-heavy Nasdaq Composite Index to break the 2,800 mark for the first time since January 2001, the second week in a row the market has hit a six-year milestone.
    2007-10-12 09:44:13

  • Zions Shares Fall on Second Warning (AP via Yahoo! Finance)

    Shares of Zions Bancorp fell Friday, a day after the regional bank said for the second time in a month it is increasing third-quarter loan-loss reserves to handle increasing defaults and charge-offs in its loan portfolios.
    2007-10-12 08:56:04

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