Wells Fargo, other US lenders curb mortgage loans

(Reuters) - Wells Fargo & Co, Wachovia Corpand other lenders are limiting mortgages to some of their more creditworthy borrowers as worries about U.S. homeowner defaults widen.

Wells Fargo, the second-largest U.S. mortgage lender, said it is curtailing issuance of "Alt-A" home loans through brokers, while Wachovia has stopped entirely. Wachovia also said one lending unit has temporarily halted its Alt-A production.


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Wells Fargo, Wachovia Reduce Home-Mortgage Lending Amid `Credit Crunch'

(Bloomberg) -- U.S. mortgage lenders including Wells
Fargo & Co. and Wachovia Corp. are raising rates and imposing
stricter standards on some of their most creditworthy borrowers as
slumping demand in the mortgage bond market chokes off funding.

San Francisco-based Wells Fargo, the second-biggest U.S. home
lender, stopped issuing Alt-A loans through brokers, made to
borrowers with near-prime credit ratings or prime borrowers who
don't document income. Charlotte, North Carolina-based Wachovia,
the fourth-largest U.S. bank, also stopped making Alt-A loans
through brokers and smaller lenders and curtailed some adjustable
rate mortgages, spokeswoman Christy Phillips-Brown said.


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Wachovia gets antitrust OK for A.G. Edwards

(Reuters) - Last month, Wachovia said it would buy A.G. Edwards to
create the second-largest U.S. retail brokerage in an effort to
win more business from aging baby boomers.




A.G. Edwards is the largest independent U.S. brokerage,
with 6,618 brokers and $374 billion of client assets. Wachovia
Securities has 8,166 brokers and $773 billion of client
assets.


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U.S. Stock Futures Gain as Treasuries Erase Losses; Merrill Shares Advance

(Bloomberg) -- U.S. stock-index futures gained
after Treasury bonds erased losses following a decline that
earlier pushed yields on 10-year notes to the highest in more
than five years.

Merrill Lynch & Co., the world's biggest brokerage, and
Wachovia Corp., the fourth-biggest U.S. bank, advanced in
trading in Europe.


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U.S. Stock-Index Futures Advance; Yahoo, Ceridian, Dell Climb in Europe

(Bloomberg) -- U.S. stock-index futures increased on
speculation the economy is rebounding after bottoming out in the
first quarter.

Shares of Yahoo! Inc., owner of the second-most-popular
Internet search engine, climbed in Europe after a stock upgrade
by JPMorgan Chase & Co. Ceridian Corp. gained as the provider of
human resource and payroll services agreed to be acquired for
$5.3 billion. Shares of Wachovia Corp., the fourth-biggest U.S.
bank, may move after the company agreed to buy A.G. Edwards Inc.


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International Lease Financing sells $1.5 bln in notes

(Reuters) - The four-year notes have a coupon rate of 5.75 percent and
were priced at 101.968 to yield 5.479 percent or 0.70
percentage point more than Treasuries. With the addition of the
reopening, the total amount of notes is now $1.15 billion.




Barclays Capital, J.P. Morgan and Wachovia Bank were the
other joint lead managers of the sale.


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