Refinance Mortgage News
Bank Analyst Has Last Laugh
Tuesday September 4, 2001
National Australia Bank was warned from virtually the moment it bought HomeSide almost four years ago that it faced serious risks it could wipe out a whole year's profit if it did not hedge its mortgage book properly.How Nab's American Odyssey Cost It $6.7 Billion
Tuesday September 4, 2001
A crushing $6.7 billion was wiped off the value of Australia's biggest bank yesterday when the NAB disclosed massive losses on a risky mortgage operation in the United States.Market Mauling For Nab Shares
Tuesday September 4, 2001
A record $6.7 billion was yesterday stripped from the market value of Australia's largest bank, the National Australia, after it shocked investors with a $3.3 billion writedown of its United States mortgage business.