Bear Stearns announced via a press release today that it is creating a single mortgage unit under the name “Bear Stearns Residential Mortgage Corporation”, combining… Read More »Bear Stearns Consolidating Mortgage Operations
There’s been a lot of talk today that Deustche Bank’s MortgageIT has suffered some serious layoffs and closures nationwide in an effort to “realign” certain… Read More »MortgageIT Layoffs Reported Nationwide
Morgan Stanley announced this morning the restructuring of its residential mortgage business in response to current market conditions and long term growth strategies, resulting in… Read More »Morgan Stanley Cuts 600 Mortgage Jobs
This morning Seattle-based Washington Mutual unveiled a new set of standards for mortgage brokers to adhere to, largely focused on improved disclosure. The bank said… Read More »WaMu Getting Tough on Mortgage Brokers
Online bank NetBank Inc. was shut down today by the FDIC, who cited an excessive level of mortgage defaults, marking the first U.S. savings and… Read More »Netbank Shut Down by FDIC
According to a company e-mail, SCME Mortgage Bankers Inc. will cease wholesale operations effective the end of business today. “We would like you to know… Read More »SCME Ceases Wholesale Operations
Fremont General Corp. took a big hit today after the investor group which had agreed to acquire the ailing California-based savings and loan said it… Read More »Fremont Investor Expresses Doubt over Acquisition
The American Bankers Association released its quarterly Consumer Credit Delinquency Bulletin this morning, revealing that many consumer delinquency rates were down aside from home equity… Read More »Delinquency Rate Up on Home Equity Lines
Countrywide Financial Corp. said Tuesday that last week’s half point Fed rate cut has led to a 40 percent increase in the number of customers… Read More »Countrywide Says Fed Rate Cut Spurred Inquiries
Freddie Mac announced Tuesday that its mortgage holdings soared at the fastest rate since December 2005. Freddie Mac’s mortgage retained portfolio grew by an annualized… Read More »Freddie Mac’s Portfolio Nearly Capped
