The New York Times reported today that Countrywide fabricated documents related to the bankruptcy case of a Pennsylvania homeowner, raising questions about the business practices… Read More »Countrywide Accused of Fabricating Documents in BK Case

Speaking today at the US Chamber of Commerce, Fannie Mae chief executive Daniel Mudd said there was no need for the government-sponsored entities to expand… Read More »Fannie Chief Sees No Need for Portfolio Expansion

Baltimore Mayor Sheila Dixon’s administration filed suit today in U.S. District Court alleging that Wells Fargo Bank engaged in predatory lending practices in black neighborhoods… Read More »Wells Fargo Accused of Predatory Lending

Shares of Countrywide Financial plummeted today on rumors that the company was in serious trouble, with some saying the company would declare bankruptcy this week.… Read More »Countrywide Shares Plunge on Bankruptcy Rumors

Bear Stearns CEO James Cayne is expected to resign today amid increasing pressure from investors over record losses and the collapse of two hedge funds… Read More »Bear Stearns CEO to Step Down, Price Target Slashed

Not surprisingly, the American Dialect Society voted “subprime” the word of the year for 2007. At a voting session in Chicago on January 4, the… Read More »Subprime Voted Word of the Year for 2007

Treasury Secretary Henry Paulson said today that the Bush administration is working in a number of areas to combat the country’s ongoing mortgage crisis, but… Read More »Paulson Says No Simple Solution for Housing Woes

IndyMac Bancorp reported total loan production of $4 billion in November, largely unchanged compared to October, but down a staggering 53% from November 2006. The… Read More »IndyMac November Loan Production Results

Defunct mortgage lender American Home Mortgage Investment Corp. has been slammed for its plan to destroy 490,000 hard mortgage files to save on warehouse rent.… Read More »American Home Criticized for Plan to Destroy Hard Loan Files