Capital One cutting 1,900 jobs (The Star Online)
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Capital One cutting 1,900 jobs (The Star Online)
NEW YORK: Capital One Financial Corp said on Monday it will eliminate 1,900 jobs and shut a wholesale mortgage unit it acquired less than a year ago, as it struggles with the US housing downturn.
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Capital One shuts wholesale mortgage unit, cutting 1900 jobs (Market Watch)
SAN FRANCISCO (MarketWatch) -- Capital One Financial said late Monday that it is closing its wholesale mortgage business and cutting 1,900 jobs as the credit card giant loses confidence in the profitability of originating home loans, then selling them in secondary markets.
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Capital One shares fall 5% in late trading (Market Watch)
SAN FRANCISCO (MarketWatch) -- Shares of Capital One Financial Corp. fell 5% during Monday's late-trading session after the giant credit-card company said it was closing its wholesale mortgage unit, cutting 1,900 jobs.
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Capital One cuts 1,900 jobs, shuts mortgage arm (USA Today)
Another subprime shoe drops. Capital One Financial Corp., one of the nation's biggest credit-card issuers and a big home lender, says it will cut 1,900 jobs and close GreenPoint Mortgage, its wholesale mortgage business. The company headquarters are in McLean,...
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Capital One to close mortgage unit, cut 1,900 jobs (USA Today)
Capital One Financial Corp. said Monday it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle in the nation's housing and mortgage markets.
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Capital One and Thornburg lose $1.8bn (Financial Times)
The US mortgage meltdown continued to spread on Monday as two big lenders announced expected losses of a combined $1.8bn. Capital One Financial , one of the largest US credit card providers, said it would close its wholesale home lending unit, GreenPoint Mortgage, and take an after-tax charge of $860m, most of it coming this year.
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TheStreet.com TV Recap: Give Capital One Credit (TheStreet.com)
It's learned its mortgage lesson. Now the company can focus on its lucrative credit card operation.
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Capital One Financial: The Latest Casualty of the Mortgage Crisis (Seeking Alpha via Yahoo! Finance)
For now, I would take a 'wait and see' approach as Capital One has two additional subprime dominoes that could fall, as well as possible weakness in its mortgage business.
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S&P Maintains Rating for Capital One (AP via Yahoo! Finance)
Standard & Poor's Ratings Services said on Tuesday it would maintain its credit rating for Capital One Financial Corp. despite the company's announcement on Monday that it would close its GreenPoint Mortgage business.
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Quick Take: No More Jumbo Loans From Capital One (The Motley Fool)
Capital One pulls the plug on its nonconforming mortgage business.
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Capital One cutting 1,900 jobs (The Star Online)
A MasterCard poll found that almost half of those surveyed admitted to carrying less cash than they did five years before. That survey also revealed that some 60% of respondents only had $20 or less with them.
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