Credit Risk News

S&P Affirms Commerce, Mapfre Ratings; Few Concerns Over Merger (Insurance Journal)
Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit rating on Commerce Group Inc. and its ‘A’ counterparty credit and financial strength ratings on CGI’s insu

Standard & Poor s puts YRC on Credit Watch - Kansas City Star
Standard & Poor s puts YRC on Credit WatchKansas City Star, MO - Oct 29, 2007Standard & Poor s Ratings Services on Monday placed YRC Worldwide Inc. s long-term rating on CreditWatch, citing declining earnings. The Overland Park-based …TEXT-S&P release on Kazakhstan GRE ratings Reuters UKVarious Kazakh govt-related entities affirmed and taken off watch … ForbesYRC Worldwide ratings placed on negative watch on near-term … CNNMoney.comall 10 news articles

HSBC sells ‘near-prime’ part of UK credit card business (FT.com via Yahoo! News)
HSBC has sold part of its UK credit card book including Marbles, the online credit card business, for 385m.

Standard & Poor’s puts YRC on Credit Watch (The Kansas City Star)
Standard & Poor’s Ratings Services on Monday placed YRC Worldwide Inc.’s long-term rating on CreditWatch, citing declining earnings.

Apple Refuses Cash Payments For iPhones
Digital Lifestyles - Or, to put it another way, anyone who chooses not to have a credit card, or can t get one, or has struggled with a bad credit rating can go and whistle when it comes to sharing the iPhone love, because Apple have decided you can t join their club

Used Bike Finance Own A Bike Through Low Rate Borrowings
Best Syndication - Taking this concern into account, there are many lenders in the marketplace who are providing used bike finance to every type of borrowers including bad credit ones. You have secured or unsecured options in availing used bike finance. Under secured

I’m a Proud Bush Supporter
Tracy Press - People with bad credit have bad credit for a reason; they don t pay their bills. They can t make a $50 per month credit card payment, but banks let them qualify for a $2,000 per month house payment. That s Bush s fault? I don t think so

Getting credit for being credit-wise
Providence Journal - It focuses on such topics as credit card fundamentals, setting spending priorities and the consequences of bad credit. For Haney, lessons about money matters came not from school but from home. My parents taught me, she said. My parents are

Merrill Lynch posts loss from credit problems (Daily Local News)
NEW YORK (AP) Merrill Lynch & Co. on Wednesday took a $7.9 billion writedown because of the summer s credit crisis, a bigger-than-expected amount that raised the specter of more trouble ahead from risky home loans.

McCreevy blames credit crux on bad loans (Ireland Business World)
The global credit crisis which hammered British lender Northern Rock was partly sparked by ‘irresponsible lending’ on financial markets, EU Internal Markets Commissioner Charlie McCreevy said.

The art of finding mortgages for bad credit - Best Syndication
Best SyndicationThe art of finding mortgages for bad creditBest Syndication, CA - Oct 23, 2007This would have caused those individuals problems in the past when looking to buy a home, but mortgages for bad credit have a very real place on the market …

Bad Credit and Home Refinance (The Bradford Era)
(ARA) - Mortgage rates are at historic lows, and it seems like everyone’s jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit?

Radian Issues Statement
MSN MoneyCentral - Radian Group Inc. is a global credit risk management company headquartered in Philadelphia with significant operations in New York and London. Radian develops innovative financial solutions by applying its core mortgage credit risk expertise and

SPANISH BANK BBVA REPORTS 19.5 PERCENT PROFIT GAIN
Tocqueville Connection - M ADRID, Oct 24, 2007 (AFP) - Spain’s second largest bank, BBVA, reported a 19.5 percent gain in third quarter net earnings Wednesday to 1.339 billion euros (1.9 billion dollars) compared with the same period last year despite a rise in credit risk

Tribune to sell 2 Conn. papers to Hearst
Chicago Tribune - In August, Tribune shareholders approved a buyout led by real-estate mogul Sam Zell, but concerns remain whether the deal, which is being financed by more than $8 billion in loans, can get done as investors shy away from credit risk. Tribune expects

Q3 2007 Sovereign Bancorp Earnings Conference Call Webcast - Final
Insurance News Net - losses as well. Another thing we’ve done in our commercial business — we’ve been in a very deliberate way calling through our loan portfolio and we are not renewing lines with commercial borrowers where our spreads are too thin for the credit risk

Countrywide offers help as borrowers struggle to pay $16 billion in
Times Online - Countrywide has sold mortgages to people with low wages with poor credit histories. Many such loans had a tempting introductory interest rate, but over the past few months that rate has jumped, triggering a surge in defaults. Yesterday the lender

Merrill writedown hits Dow Jones
Daily Telegraph - The losses on home loans to borrowers with poor credit histories and CDOs pools of bonds sold off in slices of varying credit risk was well above the $5bn writedown Merrill estimated it would take earlier this month. It also exceeded the $3bn

Countrywide refi plan gets cool reaction
Los Angeles Times - said its program would seek by the end of next year to provide fixed-rate prime loans — which go to people with good credit — to 52,000 borrowers with $10 billion in adjustable sub-prime loans, which normally go to people with poor credit. The

Angiotech CFR downgraded to ‘B3′ from ‘B2′ with negative outlook
Forbes - The company’s weaker liquidity and extremely poor credit metrics, which are likely to decline further assuming no improvement in sales, provide rationale for the negative outlook. TFN.newsdesk@thomson.com vsr/ran COPYRIGHT Copyright Thomson Financial

Stocks End Mixed On Credit, Housing Market Worries (KDKA Pittsburgh)
Wall Street was mixed in a volatile session Monday as investors remained nervous about the credit markets and uneven earnings but found some solace in the technology sector. CBS News Interactive: Eye On The Economy

No Credit Check Payday Loan - Don t Let Bad Credit Bother You Anymore! - American Chronicle
No Credit Check Payday Loan - Don t Let Bad Credit Bother You Anymore!American Chronicle, CA - 15 hours agoEspecially, if you have a bad credit record, you must go for no check payday cash loan. Here your credit history is not checked, no background checks are …

‘Eco-friendly’ loans gaining momentum
Arlington Heights Daily Herald - My fiance has a bad credit history, but I have a perfect one. If I take his last name, will it lower my good credit score? A. No, taking your fiance’s last name shouldn’t hurt your credit standing. The accounts you’ve had in the past will remain on

Goldman profit amid turmoil signals big changes on Wall Street
International Herald Tribune - Bearish investors have used ABX bets to wager against the health of mortgage lenders to people with bad credit histories. Home prices in the United States are forecast to drop on a year-over-year basis for the first time since the Great Depression of

Tennessee Voices: Don’t accept foreclosure without consulting a loss
Nashville Tennessean - However, if you got a bad loan, simply can’t afford the house you purchased, and have no equity in the home, you are not really losing anything if you do “lose” it. Bad credit can be repaired. Three years after losing your home, you can again

IMF raises spectre of UK house price correction
Daily Telegraph - The crisis there has been driven by problems in the sub-prime mortgage market for people with poor credit histories, which in turn has triggered the wider global credit crunch . In Britain, the average house prices have risen from 58,403

Banks To Set Up Fund To Boost Credit Market - Update [BAC]
RTT News - Subprime lenders, who make loans to people with poor credit histories, started to struggle as defaults mount, investors refuse to buy many home loans and bankers restrict lending to mortgage providers. In recent weeks, investors were concerned about

Developing countries say IMF reforms pace unacceptable
Daily Times - The G24 also criticized the IMF s failure to fulfill its mission of promoting global financial stability, citing the current crisis in the risky US subprime mortgage sector, where loans were given to homebuyers with poor credit. As US housing

Brazil slams IMF handling of US credit crisis
Economic Times - G24) developing countries, which includes the rapidly expanding economies of Brazil, India and Nigeria, criticised the IMF yesterday for failing to prevent the crisis in the US sub prime sector, where loans were given home buyers with poor credit

Powers vow to limit credit crisis damage (AP via Yahoo! News)
Finance officials from the world’s top economic powers pledged Friday to do all they can to limit damage to the global economy from a jarring credit crisis as Wall Street took another plunge.