SEATTLE -- WaMu (NYSE:WM) fully supports the guidance and the goal of ensuring that mortgage loans are underwritten in a prudent fashion and communicated in an understandable way. No party wins when a lender is forced to foreclose on a borrower. We are well positioned to implement the guidance in...
All eyes are turned towards the credit markets as the bears wait for the wheels to come off. It is the subprime mortgage markets that have drawn most attention, but other bad news may be waiting in the wings. All eyes are turned towards...
By Staff The ongoing housing recession, concerns about additional fallout from subprime mortgage defaults, a weaker manufacturing sector, and a slower pace of hiring are all helping to revive expectations of the ... By Staff ...
NEW YORK -- The board of The New York Times Neediest Cases Fund announced today the creation of a special program, to which it will contribute $1 million, to help victims of the subprime mortgage crisis. The new program is expected to assist a hundred New York families relocate safely...
John Thain, chief executive of NYSE Euronext, is to be the new chairman and chief executive of Merrill Lynch, as Stan O'Neil leaves the bank following heavy losses in the subprime mortgage meltdown. John Thain, chief executive of NYSE Euronext, is to be the...
CDCU champion Martin Eakes joined civil rights leader Jesse Jackson and the head of the NAACP before Congress to call on lawmakers last week to pass national standards to protect subprime mortgage borrowers from predatory lending practices. CDCU champion Martin Eakes joined civil rights leader Jesse Jackson and the...
CUNA President/CEO Dan Mica Thursday provided the credit union perspective for the average American regarding problems in the subprime mortgage market during a live interview on Bloomberg TV. Mica told the audience that if the entire mortgage market was t CUNA President/CEO Dan Mica Thursday provided the credit union perspective...
CUNA Mutual Mortgage Corp. has entered the subprime mortgage market, one of the fastest growing segments of the market. CUNA Mutual Mortgage Corp. has entered the subprime mortgage market, one of the fastest growing segments of the market.
Freddie Mac has announced that it will cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure. First, Freddie Mac said it will only buy subprime adjustable-rate mortgages - and mortgage-related secuFreddie Mac has announced that it will cease buying subprime mortgages that have...
Byline: MAYA PAYNE SMART Auto lending to consumers with spotty credit is a multi-billion dollar business, but one that local banks and independent lenders regard cautiously. A 2007 study conducted by Westlake Village, Calif.-based J.D. Power an Byline: MAYA PAYNE...
Byline: Aaron Elstein When business historians assess Stan O'Neal's tenure as Merrill Lynch & Co.'s chief executive, his $1.3 billion acquisition of subprime mortgage lender First Franklin in January is unlikely to rank as one of his best move Byline: Aaron Elstein ...
NEW YORK -- ACA Capital Holdings, Inc. (NYSE: ACA) today announced that Standard & Poor's has published its report entitled "U.S. Bond Insurers Withstand Subprime Stress," concluding that, in spite of the well-documented deterioration in the world of subprime mortgages, this sector is not an apparent threat to the rating...
The University of Utah S.J. Quinney College of Law will host a public panel titled "Wall Street in Crisis" at 12:15 p.m. Monday in the Sutherland Moot Court Room at the College of Law. The free event will trace the rapid deterioration of the banking system over...
An end to the American housing recession, something that many observers regard as essential to ending the credit crunch, seemed little closer yesterday, with US real estate prices falling by the sharpest annual rate ever in July, though the monthly rate of decline is slowing. The Standard...
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