Skip to: Content
Skip to: Site Navigation
Skip to: Search
WEDNESDAY, NOVEMBER 25, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: subprime mortgages

subprime mortgages stories: 243 news summaries

41 - 60 of 243 Stories | << Prev 1 2 3 4 5 6 7 ... 13 Next >>

Switch to grid view »

Feds Outline New, Tougher Credit Rules

Paulson pushes stricter standards for mortgage lenders

Mar 13, 08 6:51 AM CDT
(Newser) - A panel led by Treasury Secretary Henry Paulson is seeking a major overhaul of rules affecting mortgage lenders and a credit market decimated by risky subprime loans and loose oversight, the Wall Street Journal reports. Among panel recommendations to be released today:
  • Strengthen mortgage lender and broker oversight
  • Establish
... More »

MORE ABOUT:
Federal Reserve • Dow Jones • subprime mortgages • Henry Paulson • Fannie Mae • mortgage backed securities • subprime crisis • NYMEX

Senate GOP Stymies Dem Housing Relief

Republicans say plan to aid homeowners would inflame crisis, hurt lenders

Feb 29, 08 8:51 AM CST
(Newser) - Capping a week of gridlock, GOP senators yesterday blocked consideration of a Democratic-backed housing-relief bill. The mortgage industry had fought hard against the proposal, which would allow judges to slash interest rates for low-income homeowners facing bankruptcy, the Washington Post reports. The bill also included billions of dollars for local... More »

MORE ABOUT:
subprime mortgages • foreclosure • Mel Martinez • mortgage lender • housing crisis • Richard Durbin • George W. Bush

Paulson Raps Mortgage Rescue Plans

Says taxpayers shouldn't finance 'bailouts' for reckless lenders and borrowers

Feb 28, 08 7:06 AM CST
(Newser) - Homeowners burned by the subprime mortgage meltdown shouldn't be looking to the federal government for help, Treasury Secretary Henry Paulson told the Wall Street Journal yesterday. Facing down mounting congressional pressure for stronger measures to stem an epidemic of foreclosures, Paulson dismissed proposals on the table as "bailouts" for... More »

MORE ABOUT:
Ben Bernanke • subprime mortgages • Henry Paulson • foreclosure • housing crisis • subprime crisis

Despite Fed, Silicon Valley Bullish on Economy

Many tech workers not seeing US slump

Feb 27, 08 5:31 PM CST
(Newser) - Ben Bernanke’s report to Congress on monetary policy offered a grim outlook on the economy, but ABC News sees some signs that good news may be around the corner: workers in Silicon Valley, a national economic bellwether, feel good about their prospects. Rising exports, the recently-passed stimulus package and... More »

MORE ABOUT:
Ben Bernanke • Silicon Valley • Federal Reserve • subprime mortgages • recession • housing crisis • interest rate cut

Feds Ponder Rescue Plans as Housing Slump Worsens

More than 10% of homeowners are 'upside down' on mortgages

Feb 22, 08 12:05 PM CST
(Newser) - With one in 10 US homeowners owing more on their homes than they’re worth, the highest proportion of negative-equity loans since the Depression, the government is weighing plans that would apply the brakes to the rapidly accelerating housing market collapse, the New York Times reports. Possibilities include federal loan... More »

MORE ABOUT:
subprime mortgages • debt • mortgage debt • Federal government • housing crisis • subprime crisis • negative equity

SocGen Posts Record $4.9B Q4 Loss

Subprime writedowns and fraud drop bank's annual profit 82%

Feb 21, 08 9:54 AM CST
(Newser) - Societe Generale's annual profits plummeted a whopping 82% after a record $4.9 billion fourth quarter loss fueled by subprime woes and the actions of rogue trader Jerome Kerviel, reports Bloomberg. France’s second-largest bank today said net income was 947 million euros, compared to 5.22 billion euros in... More »

MORE ABOUT:
subprime mortgages • earnings reports • corporate earnings • Jérôme Kerviel • Société Générale • Daniel Bouton • SocGen

Markets Drop
as KKR Unit Delays Payment

Concern about liquidity in the US has investors selling off in Asia

Feb 20, 08 7:21 AM CST
(Newser) - Asian stocks slumped today after reports in the Financial Times that a struggling arm of private equity heavyweight Kohlberg Kravis Roberts. missed a second payment on billions of dollars of commercial debt just 6 months after two of its founders poured $270 million into the company. Investors cashed out as... More »

MORE ABOUT:
private equity • stock market • subprime mortgages • Kohlberg Kravis Roberts • KKR • Henry Kravis • Asian markets • commercial paper • subprime crisis

OPINION

How Bad Is Northern Rock?

Pundits examine the fallout of unavoidable nationalization

Feb 19, 08 1:08 PM CST
(Newser) - The subprime crisis has forced the British government to do what it dreaded: nationalize a bank. What's the fallout from the Northern Rock takeover?
  • Gordon Brown "put quite a good face" on an unpalatable decision, says Philip Stephens of the Financial Times. Nationalization hasn't hurt him much,
... More »

MORE ABOUT:
United Kingdom • Gordon Brown • subprime mortgages • nationalization • Northern Rock • Alistair Darling • market turmoil • financial crisis

Citi Blocks Hedge Fund Withdrawals

Move is latest black eye for bank's alternative investments

Feb 15, 08 1:35 PM CST
(Newser) - Still struggling with billions of dollars in subprime losses, Citigroup blocked nervous investors from bailing out of a hedge fund specializing in corporate debt, reports the Wall Street Journal. Investors tried to pull more than 30% of $500 million in assets from CSO Partners, which posted an 11% loss... More »

MORE ABOUT:
Citigroup • subprime mortgages • hedge fund • Vikram Pandit • CSO Partners

OPINION

Spitzer Slams Bush for Abetting Bad Lenders

Says feds barred states from halting predators

Feb 14, 08 12:12 PM CST
(Newser) - The Bush administration was a “willing accomplice” to predatory lending practices that cost thousands of Americans their homes and endangered our economy, Eliot Spitzer writes in the Washington Post. When state attorneys general (including Spitzer at the time) tried to act against a spike in deceptive and even illegal... More »

MORE ABOUT:
Bush administration • subprime mortgages • Eliot Spitzer • predatory lending • Office of the Comptroller of the Currency • attorney general • George W. Bush

UBS Posts Record $11.2B Quarterly Loss

Swiss bank also posts its first annual loss on $13.7B subprime writedowns

Feb 14, 08 6:10 AM CST
(Newser) - Swiss banking giant UBS today reported an $11.23-billion fourth-quarter loss—the largest ever by a bank—and its first full-year loss ever, after taking $13.7 billion more in subprime mortgage writedowns, reports the Telegraph. UBS, which still has a $27.59-billion exposure to subprime securities, is... More »

MORE ABOUT:
subprime mortgages • UBS • corporate earnings • shares

Feds Eye UBS as Subprime Probe Widens

Criminal prosecutors target Swiss banking giant for mispricing

Feb 2, 08 12:06 PM CST
(Newser) - US criminal prosecutors investigating the subprime mortgage mess want to find out if UBS deliberately misled investors, the Wall Street Journal reports. The Swiss banking giant may have put mortgage bonds on its books at high prices despite knowing their valuations had plummeted. There are multiple probes into the mortgage... More »

MORE ABOUT:
FBI • subprime mortgages • UBS • Merrill Lynch • SEC • subprime crisis

Negative Equity Adds Another Crippling Factor

Forbes examines pitfalls of having a loan worth more than home

Jan 31, 08 6:45 PM CST
(Newser) - Foreclosure is scary enough, especially at its current pace—79% more US homes foreclosed in 2007 than the year before. But, Forbes writes, the housing crisis is dumping an even scarier problem on mortgage holders around the country: negative equity, in which a mortgage is worth more than the house... More »

MORE ABOUT:
subprime mortgages • foreclosure • mortgage • home prices • housing crisis • negative equity

Subprime Woes Cost UBS Record $4B Loss

The Swiss bank adds to its write downs; more bad news could be coming

Jan 30, 08 5:59 AM CST
(Newser) - Hit hard by the subprime mortgage crisis, UBS AG announced it will write down an additional $4 billion in bad investments and post a $4.03 billion loss for 2007, a record for the company and significantly more than the Swiss banking giant predicted in December, reports the Wall Street ... More »

MORE ABOUT:
subprime mortgages • UBS • corporate earnings • subprime crisis

Foreign Buying Spree Reaches Deep Into US

With weak dollar driving acqusitions, lawmakers get skittish

Jan 28, 08 7:01 PM CST
(Newser) - As the dollar drops, foreign investors are buying up US enterprises large and small, from multi-billion-dollar stakes in Wall Street banks to ownership of chemical factories and construction companies in the likes of North Carolina. Canadian, British and German companies have been expanding their portfolios in the US for years,... More »

MORE ABOUT:
China • Middle East • subprime mortgages • foreign investment • investment • US dollar

Another Head Rolls at
Merrill Lynch

Co-president will step down in wake of huge subprime losses

Jan 28, 08 3:55 PM CST
(Newser) - Merrill Lynch co-president Ahmass Fakahany will step down after subprime mortgages led to a $9.8 billion fourth-quarter loss, the firm said today. Fakahany is at least the third exec from Stan O'Neal's team to leave since John Thain took over as CEO, reports Bloomberg. Thain replaced O'Neal in October... More »

MORE ABOUT:
subprime mortgages • Merrill Lynch • John Thain • Stan O'Neal • subprime crisis

Housing Crisis Hard on Pets, Too

More left behind, dropped in shelters, after collapse

Jan 22, 08 8:27 PM CST
(Newser) - America's pets are feeling the subprime fallout these days as more homeowners are foreclosing and abandoning them, the Chicago Tribune reports. A recent spate of deserted animals—including 24 horses on an Oklahoma farm, and 21 Great Danes left to die in Pennsylvania—inspired the national Humane Society to issue... More »

MORE ABOUT:
subprime mortgages • animal cruelty • housing crisis

Bush Vows Quick Boost
for Economy

Gives bipartisan lawmakers 3 weeks
to forge accord

Jan 22, 08 6:47 PM CST
(Newser) - President Bush pushed his fiscal stimulus plan with lawmakers today and vowed the bipartisan group will find "common ground," the Washington Post reports. The economic boost—which he set at $150 billion—will not kick in overnight, he warned, but said congressional leaders must reach an accord in... More »

MORE ABOUT:
Congress • subprime mortgages • recession • US economy • economic stimulus package • bipartisanship • George W. Bush

Northern Rock Bailout Plan a Money Shuffle

Deal pays back government loans, but public still on the hook

Jan 21, 08 2:21 PM CST
(Newser) - The British government today unveiled its last-gasp plan to hand off the Northern Rock hot potato and prevent nationalization, the London Times reports. Under the plan, the bank would immediately pay back the £25 billion it owes the government by selling the debt to private investors as bonds. But... More »

MORE ABOUT:
Richard Branson • United Kingdom • Gordon Brown • subprime mortgages • shareholders • Northern Rock • Alistair Darling • Virgin Group • private investors • financial crisis

Hawks Circling Subprime Carnage

JP Morgan's Dimon among the survivors looking to clean up

Jan 17, 08 12:33 PM CST
(Newser) - After largely dodging the subprime bullet that tore through most of Wall Street’s big banks, JP Morgan Chase is looking to make a move, the Wall Street Journal reports. Buoyed by three years of cost cutting and refocusing its business, Morgan has nearly doubled its mortgage market, is flush... More »

MORE ABOUT:
subprime mortgages • acquisition • JPMorgan Chase

41 - 60 of 243 Stories | << Prev 1 2 3 4 5 6 7 ... 13 Next >>


from our news partners