February 2008

Goldman analysts lowered their 2008 earnings estimate for JP Morgan Chase to $3.30 from $3.44 yesterday after the bank warned investors it could lose $450… Read More »Home Equity Loss Estimates Rattle Chase

Merrill Lynch is reportedly shutting down its wholesale mortgage unit First Franklin, according to a report by CNBC. Although it’s unclear how many of the… Read More »First Franklin to be Shut Down by Merrill Lynch

Treasury Secretary Henry Paulson released a statement today centered on the ongoing mortgage crisis, rejecting a so-called bailout and calling on borrowers to do their… Read More »Paulson Gets Tough on Mortgage Crisis

Thornburg Mortgage said today that it paid more than $300 million in margin calls since mid-February as a result of quickly deteriorating mortgage-backed securities, and… Read More »Thornburg Mortgage Hit with Margin Calls

Mortgage fraud prevention company Rapid Reporting said today in a press release that the usage of its income verification product increased by 157 percent between… Read More »Company Sees Income Verification Orders Surge

A new study released by FreedomWorks found that various programs proposed or enacted to address the ongoing mortgage crisis don’t benefit homeowners evenly. The group… Read More »Study: Mortgage Aid Programs Distributed Unfairly

The Office of Federal Housing Enterprise Oversight announced today that it will lift the caps currently constraining the growth of the government sponsored entities’ mortgage… Read More »Fannie Mae and Freddie Mac Portfolio Limits Removed

Two bills aimed at giving bankruptcy judges the power to modify the terms of mortgages tied to primary residences will likely be vetoed if they… Read More »Bankruptcy Cram Down Bills Face Veto

FDIC insured commercial banks and savings institutions reported net income of $105.5 billion in 2007, a decline of $39.8 billion or 27.4 percent from the… Read More »FDIC Insured Banks Quarterly Earnings Hit 16-Year Low

Foreclosure filings increased 8 percent in January from December, representing a 57 percent increase from January 2007, RealtyTrac said today. The Irvine, CA-based foreclosure data… Read More »Foreclosure Filings March Higher in January