Countrywide News Dissected
Ever since the now infamous Merrill analyst Countrywide downgrade and the accompanying bankruptcy comment, the news media and bloggers throughout the nation have been going… Read More »Countrywide News Dissected
First Magnus Financial Closed
First Magnus, the nation’s 22nd largest residential mortgage lender announced on their website this morning that they are no longer funding any home loans. The… Read More »First Magnus Financial Closed
Countrywide Bankruptcy Fears
***Click here for today’s news: 1/8/08 Countrywide shares plunge on bankruptcy rumors. The inevitable happened today. Shares of Countrywide, the largest mortgage lender in the… Read More »Countrywide Bankruptcy Fears
Thornburg Stock Tumbles, Bankruptcy Ruled Out
After a terrible day on Wall Street, with shares of his company shedding nearly half their market value, Thornburg Mortgage president Larry Goldstone attempted to… Read More »Thornburg Stock Tumbles, Bankruptcy Ruled Out
Fannie and Freddie Asset Limits Unchanged
Fannie Mae and Freddie Mac’s appeals to raise limits on their existing loan portfolios were met with disapproval by both the Bush Administration and the… Read More »Fannie and Freddie Asset Limits Unchanged
Mortgage Brokers May Need to Dust Off Resumes
As the mortgage crisis widens, particularly with the latest news regarding limited liquidity, it makes sense to wonder if correspondent and wholesale lending will be… Read More »Mortgage Brokers May Need to Dust Off Resumes
Countrywide and WaMu Spread Liquidity Fears
Two of the largest U.S. mortgage lenders came forward today, saying difficult market conditions would likely hurt operations in the near term. Both Countrywide and… Read More »Countrywide and WaMu Spread Liquidity Fears
Stated Income Loans Going Away
I’ve heard from several sources that stated income loans, also known as “liar’s loans” may become a thing of the past as mortgage lenders continue… Read More »Stated Income Loans Going Away
More Mortgage Woes
Just what is this whole mortgage business built on anyway? Check out my newly updated list of closed lenders! HomeBanc is exiting the mortgage loan… Read More »More Mortgage Woes
Subprime Dead, Alt-A Next in Line
Now that subprime mortgage is completely blown out, many credit rating agencies are turning their attention towards Alt-A loans, which are typically reserved for borrowers… Read More »Subprime Dead, Alt-A Next in Line