Investors

Being Exposed Has Investors Singing Mortgage Blues

Written by Timothy Blake on August 08, 2007 under Archives, Investors

The old saying ‘you are known by the friends you keep’ is coming back to haunt some investors as exposure to their friends coninues to punish mortgage stocks. A few million here and a few billion there – it is still a bad idea to expose yourself in public these days.

American Home Mortgage’s 40 biggest creditors

Written by Timothy Blake on August 07, 2007 under Archives, Investors, Lenders

American Home Mortgage’s 40 biggest creditors include virtually all the major names of Wall Street. At the top of the list are Deutsche Bank and JPMorgan Chase. The two had no comment. American Home intends to take $50 million in financing from financier Wilbur Ross Jr’s company WL Ross & Co. Llc, which would place Ross in first position to collect whatever proceeds American Home manages to squeeze from its assets.

Prudential Financial has $8.5 Billion Subprime Exposure

Written by Timothy Blake on August 06, 2007 under Archives, Investors

Prudential Financial (PRU), the insurance giant saw its share price fall fractionally on August 6 after it announced it had $8.5 billion of subprime exposure. As well as these insurers are doing in Lousianna, Mississippi, Alabama and Florida we hope we can trust them. My latest edition of AARP Magazine said one of the giant insurers was raising rate on Long Island in case the island is hit by a hurricane. But for now we must assume that Prudential has $8.5 billion of subprime exposure, if you knwo what I mean.

Luminent Mortgage Capital Singing the blues

Written by Timothy Blake on August 06, 2007 under Archives, Investors, Lenders

Another company singing the mortgage blues is Luminent Mortgage Capital. It’s not often a company gets recognition from the New York Stock Exchange. Shares of Luminent Mortgage Capital (LUM), a REIT that invests in single-family, mortgage-backed securities, plunged Aug. 6 after trading in the shares was halted on the NYSE, which said news on the company is pending.

Bear Sterns credit outlook now negative on mortgage blues

Written by Timothy Blake on August 03, 2007 under Archives, Investors, Lenders

More people at Bear Sterns are singing the mortgage blues, joined by a chorus from Standard & Poor’s Ratings Services. Lowered its credit outlook on Bear Stearns Cos. to negative from stable, Standard & Poor’s Ratings Services said it was because of the investment bank’s exposure to the distressed mortgage and corporate buyout markets.

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