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July 25, 2008 7:44:22 AM CDT

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Stories related to: mortgage brokers

Stories

5 Stories

  • February 2008

    • Freddie Mac Reports Record $2.45B Loss

      newser  |  Bloomberg  |  Feb 28, 08 10:27 AM CST

      Freddie Mac Reports Record $2.45B Loss

      Freddie Mac, the nation’s second-largest mortgage finance company, lost $2.45 billion in 2007's fourth quarter, topping the record $2.02 billion it lost the previous quarter, Bloomberg reports. Freddie’s CEO predicted still-greater losses ahead as loan defaults take their toll, but said the company had raised enough money to weather the storm—unless things get drastically worse. More »

      Tags

      subprime crisis  • mortgage  • Fannie Mae  • Freddie Mac  • quarterly earnings  • mortgage defaults  • mortgage brokers

  • December 2007

    • Fed Cracks Down on Loose Lending

      newser  |  Wall Street Journal  |  Dec 18, 07 7:43 PM CST

      Fed Cracks Down on Loose Lending

      Seeking to avoid another subprime meltown, the Federal Reserve cracked down on mortgage lending today by a unanimous 5-0 vote, the Wall Street Journal reports. If approved next year, the Fed proposals will require creditors to consider borrowers' financial and credit status, but will not prohibit prepayment penalties altogether, a move sought by some consumer groups. More »

      Tags

      subprime mortgages  • Federal Reserve  • Ben Bernanke  • foreclosure  • mortgage crisis  • taxes  • borrowers  • Barney Frank  • mortgage brokers

    • Subprime Woes Afflict Good Credit Risks

      newser  |  Wall Street Journal  |  Dec 3, 07 11:12 AM CST

      Subprime Woes Afflict Good Credit Risks

      Borrowers with shady credit who never should have been allowed near a dotted line weren't the only ones swallowed by the subprime debacle—credit-worthy borrowers received 55% of all subprime loans in 2005, the apex of the subprime surge, reports the Wall Street Journal. Incentive-motivated mortgage brokers put many borrowers into subprime loans, even those who qualified for better, more stable rates. More »

      Tags

      subprime mortgages  • borrowers  • mortgage brokers

  • November 2007

    • House Votes to Tighten Controls on Lenders

      newser  |  Wall Street Journal  |  Nov 16, 07 4:29 AM CST

      House Votes to Tighten Controls on Lenders

      The House has passed a bill intended to protect mortgage borrowers by imposing stricter regulations on lenders. But it's unlikely it will become law before the new year, given the Senate's problem passing a less controversial bill that also aims to mitigate the subprime lending crisis. The House measure bars lenders from steering people into expensive loans they might not be able to pay. More »

  • August 2007

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