In Pictures: Indymac Bank Run
Our street team headed down to Encino, CA today to take a look at what we thought would be a fairly busy day at bank… Read More »In Pictures: Indymac Bank Run
Introducing Indymac Federal Bank
Tomorrow morning, Indymac Federal Bank will open its doors, largely to panicked and upset customers inquiring about their mostly-insured deposits. On Friday, the FDIC announced… Read More »Introducing Indymac Federal Bank
Introducing Wachovia’s New Three-Pronged Option Arm
Wachovia announced today that it would no longer offer the negative amortization payment option on its popular and now infamous “Pick-a-Payment” loan program amid heightened… Read More »Introducing Wachovia’s New Three-Pronged Option Arm
Service Launched to Help Pets Affected by Foreclosure
A new non-profit called “No Paws Left Behind” was launched today to help foreclosure victims find homes for their pets if they’re unable to take… Read More »Service Launched to Help Pets Affected by Foreclosure
Down Payment Assistance Loans Drive $4.6 Billion Loss at FHA
FHA Commissioner Brian D. Montgomery said today that his organization realized $4.6 billion in “unanticipated long-term losses,” largely due to an increased number of seller-funded… Read More »Down Payment Assistance Loans Drive $4.6 Billion Loss at FHA
Mortgage Bust Market Cap Impact
What a difference a mortgage crisis can make. Take a look at select mortgage stocks and their market cap declines from June 2007 to the… Read More »Mortgage Bust Market Cap Impact
Study: Originate to Distribute Model to Blame for Mortgage Crisis
Research and consulting firm Celent released a study yesterday titled, “Pathology of the US Mortgage Crisis,” which examines the evolution of the credit crunch from… Read More »Study: Originate to Distribute Model to Blame for Mortgage Crisis
Wachovia Pitching Pick-a-Pay Mortgage Amid Crisis
Yesterday I saw a television ad from Wachovia touting their “Fixed Rate Pick-a-Payment Mortgage” as a sensible choice for homeowners. It struck me as a… Read More »Wachovia Pitching Pick-a-Pay Mortgage Amid Crisis
Company Launched to Buy Distressed Mortgage Assets
As the mortgage crisis deepens, it’s clear that opportunities will present themselves, and some winners must emerge. And so PennyMac, or Private National Mortgage Acceptance… Read More »Company Launched to Buy Distressed Mortgage Assets
Top 10 Most Admired Mortgage Companies
Fortune magazine released its top 10 list of the most admired mortgage companies in the March 17th edition, which begs the question: What makes a… Read More »Top 10 Most Admired Mortgage Companies