So I guess there was a point to the many, many state Attorney General lawsuits filed against Countrywide Financial over the past year. Today, Bank… Read More »Bank of America Launches Modification Program to Satisfy Countrywide Lawsuits
So much for the merger with Chase; instead the largest bank failure in U.S. history. Late Thursday evening, Washington Mutual was shut down by the… Read More »Washington Mutual Shut Down by OTS
A website popped up today selling “I Hate Mortgage Brokers” t-shirts and other various products such as baseball hats and teddy bears to foreclosure victims… Read More »Website Selling “I Hate Mortgage Brokers” T-Shirts
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
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
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
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
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
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
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
