Freddie Mac net profit tumbles as defaults rise
548222
Freddie Mac , the nation&#39;s  second-largest source of home loan funding, said on Thursday  its second-quarter net income fell 45 percent from a year  earlier as more borrowers defaulted on their loans.
222184
The mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period.
562497
Bear Stearns Cos. said yesterday its profit plunged 62 percent in the third quarter as turbulence in the debt market and wrong-way bets on mortgages crunched the investment bank's credit portfolio and bond business.
647330
Countrywide Financial Corp. on  Wednesday posted a 47 percent drop in quarterly earnings and  cut its outlook as mortgage refinancings fell and rates  climbed, sparking a broad sell-off in mortgage-company stocks.
135954
Two large Wall Street firms - Morgan Stanley and Bear Stearns - reported a fall in quarterly profits yesterday in sharp contrast to rival players who presented an upbeat performance the day before.
298908
The bank said its fourth-quarter earnings fell sharply,  to $268 million from $5.26 billion a year earlier, hurt by mounting credit losses and weak investment banking results.
376890
Bear Stearns Cos., the fifth-biggest U.S. investment bank, said Thursday fiscal second-quarter profit sank as a downturn in the U.S. mortgage market slammed the company's business of issuing and dealing bonds backed by pools of home loans.
364928
Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company's internal controls after an accounting scandal.
105493
Freddie Mac FRE.N, the  second-largest U.S. home financing company which has endured a  barrage of intense public scrutiny in over the past year, on  Friday revised its 2003 net income down by $75 million to cover  a reserve for legal expenses, according to its annual report.
686900
M&T Bank Corp , the first large U.S. bank to report fourth-quarter results, said on Monday that profit tumbled 70 percent, hurt by debt write-downs and turbulence in residential real estate markets.
740498
Countrywide Financial Corp.'s shares tumbled for the second day Wednesday after the nation's largest mortgage lender said the delinquency and foreclosure rate of home loans in its portfolio surged in December.
33838
The investment bank said 3rd-quarter profit fell to $1.54 billion, hurt by a global credit crisis that cut into stock trading, corporate lending, and results from investments.
94869
Wall Street investment banks Goldman Sachs Group Inc. and Bear Stearns Cos. on Thursday said fiscal second-quarter profit was squeezed by the nation's mounting home-loan defaults.
461843
Mortgage rates around the country crept up this week, although 30-year mortgages still were below the 6 percent level for a fourth straight week, Freddie Mac reported Thursday.
586964
Bear Stearns Cos Inc  said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages and disrupted fixed-income trading.
84888
WASHINGTON -- Freddie Mac, the nation's second largest buyer and guarantor of home mortgages, reported a first-quarter loss of $211 million, mainly from erosion in the value of financial instruments it uses to hedge against interest rate swings.
591610
Interest rates on U.S. 30- and  15-year mortgages fell for a third straight week, mortgage  finance company Freddie Mac said on Thursday.