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October 11, 2008 9:05:55 AM CDT

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Stories related to: mortgage loans

Stories

8 Stories

  • August 2008

    • Freddie CEO Dismissed Bad Omens for Years

      New York Times  |  Aug 5, 08 4:34 AM CDT

      Freddie CEO Dismissed Bad Omens for Years

      (Newser) - The CEO of Freddie Mac disregarded several warnings from inside the company that the mortgage giant faced imminent disaster. More than two dozen current and former high-ranking employees told the New York Times that Richard Syron dismissed repeated recommendations from as early as 2004 to limit its exposure to bad loans, which now threaten to saddle taxpayers with a multibillion-dollar bailout. More »

      Tags

      Financial Crisis  • subprime mortgages  • Freddie Mac  • housing  • mortgage debt  • mortgage loans  • loan  • Richard Syron

  • May 2008
  • April 2008

    • Federal Mortgage Plan Not Helping the Neediest: Critics

      New York Times  |  Apr 29, 08 4:57 PM CDT

      Federal Mortgage Plan Not Helping the Neediest: Critics

      (Newser) - A plan to federally subsidize the refinancing of troubled mortgages has in fact helped relatively few of the most at-risk borrowers, the New York Times reports. Though Bush administration officials said FHA Secure has benefited 150,000, federal statistics show that only 1,729 of those mortgages were delinquent. “They came to us before they got into trouble,” one official said. More »

    • $6B From Outside Investors Will Shore Up Wachovia

      Wall Street Journal  |  Apr 13, 08 10:48 PM CDT

      $6B From Outside Investors Will Shore Up Wachovia

      (Newser) - Ailing bank Wachovia will get a $6 billion-$7 billion shot in the arm from outside investors, the Wall Street Journal reports. Specifics of the capital infusion, designed to help the company recover from the credit crisis, haven’t been finalized. Details may be revealed when the company reports first-quarter earnings Monday; it moved the announcement up from Friday without explanation. More »

      Tags

      credit crisis  • Wall Street  • Wachovia  • Washington Mutual  • sovereign wealth funds  • private equity firms  • mortgage loans

  • March 2008
  • December 2007

    • Home Prices Suffer Record Monthly Drop

      Bloomberg  |  Dec 26, 07 12:25 PM CST

      Home Prices Suffer Record Monthly Drop

      (Newser) - Home prices plummeted 6.1% in October, a record year-over-year drop that exceeded forecasts. The index of prices in 20 major markets has dropped every month this year and fell 1.4% from the September figure, another record. The trend threatens overall consumer spending, making it more difficult for homeowners to dig into home equity funds, Bloomberg reports. More »

      Tags

      housing market  • mortgage crisis  • mortgage  • home prices  • home equity  • houses  • mortgage loans

    • Bad Credit? Buy a Piece of Someone Else's

      Los Angeles Times  |  Dec 8, 07 8:22 PM CST

      Bad Credit? Buy a Piece of Someone Else's

      (Newser) - Americans struggling with bad credit records may have a new route to a better score: For as little as $1,199, a San Diego company is offering the chance for customers to add their names to already-paid-off loans in order to boost their rating, the Los Angeles Times reports. The company says it's "100% legal," but not everyone agrees. More »

      Tags

      credit crisis  • FBI  • bank fraud  • mortgage loans

  • August 2007

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