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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: mortgage defaults

mortgage defaults stories: 37 news summaries

21 - 37 of 37 Stories | << Prev 1 2

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JPMorgan Plans Relief for $110B in Mortgages

WaMu customers included in measure to avoid foreclosures

Oct 31, 08 2:22 PM CDT
(Newser) - JPMorgan Chase will help distressed homeowners by reducing interest rates or principal balances for $110 billion in mortgages, Bloomberg reports. The restructuring applies to clients of Washington Mutual, which JPMorgan agreed to buy last month. Foreclosures will be suspended on all loans for the next 90 days while the relief... More »

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mortgage • Washington Mutual • WaMu • refinanced mortgages • subprime crisis • mortgage defaults • JPMorgan Chase • financial crisis

 Rescue Plan  
 Rankles Prudent 
 Homeowners 

Those who can pay mortgages feel cheated as neighbors get aid

Oct 31, 08 7:43 AM CDT
(Newser) - As the feds move ahead with a plan to help homeowners on the brink of foreclosure, others are questioning the scheme's fairness and wondering if it's ripe for abuse, the New York Times reports. “I am beginning to think I would have rocks in my head if I keep... More »

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housing market • abuse • refinanced mortgages • subprime crisis • bailout • mortgage defaults • financial crisis



 Hungary Gets $6.7B Loan 
 to Avert Meltdown 

Budapest secures huge loan to prevent default à la Iceland

Oct 17, 08 8:33 AM CDT
(Newser) - The Hungarian government secured a $6.7-billion loan yesterday from the European Central Bank in an attempt to stave off an Icelandic-style national meltdown. The EU newcomer's troubles derive from loans denominated in euros or Swiss francs, rather than the softer Hungarian forint. Frozen credit markets have left Hungary's government... More »

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Eastern Europe • IMF • Hungary • credit market • default • mortgage defaults • financial crisis • Hungarian forint

 WaMu 
 Cans 
 CEO 
 Killinger 

From rapid expansion and growth to rapid decline, WaMu is in deep trouble

Sep 8, 08 5:38 AM CDT
(Newser) - The enduring subprime contagion has claimed another victim, as downtrodden Washington Mutual has forced out CEO Kerry Killinger, reports the Wall Street Journal. Killinger, who has led the nation’s largest thrift since 1990, and has taken it from a small Seattle business into one of the nation’s... More »

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Washington Mutual • WaMu • subprime crisis • mortgage defaults • Kerry Killinger

OPINION

Fannie-Freddie Merger:
The Math Adds Up

As both companies plummet, combining them might make sense

Sep 2, 08 10:54 AM CDT
(Newser) - With Fannie Mae and Freddie Mac struggling to stay afloat, arguments for a merger are gathering steam. “Sometimes size can be a strength,” writes Andrew Ross Sorkin in the New York Times. The companies spent $1.825 billion in total overhead in the first half of 2008 doing... More »

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Freddie Mac • Fannie Mae • credit crisis • housing crisis • subprime crisis • mortgage defaults • financial crisis

2007 Mortgages Failing at Triple the Rate of 2006

Prime loans made in early 2007 are going bad at triple the rate of 2006 loans

Aug 7, 08 9:29 AM CDT
(Newser) - Mortgages procured in 2007 are souring at a rate nearly triple that of 2006, reports the Wall Street Journal, suggesting that the wallop to the financial system from forclosures could be far from over. Analysis done for the paper finds 0.91% of the prime loans issued in the... More »

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foreclosure • Freddie Mac • subprime crisis • mortgage defaults • JPMorgan Chase

Lenders See New Wave of Prime Defaults

Bigger group of 'good' borrowers now face foreclosure

Aug 4, 08 8:11 AM CDT
(Newser) - The flood of foreclosures on subprime mortgages seems to be ebbing, the New York Times reports, but a second, larger group of borrowers—those with better credit—are now expected to default in coming months. A continued weak economy, unemployment, and other economic factors helped to quadruple the percentage... More »

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foreclosure • subprime crisis • mortgage defaults • JPMorgan Chase

Investors Fall Out of Love
With Banks

Even well-managed regional banks no longer darlings

Jul 16, 08 7:39 AM CDT
(Newser) - With the nation's banks under pressure from bad loans, and sources of credit scarce, bank customers aren't panicking, the New York Times notes, but  investors are, fleeing an industry much more accustomed to being a Wall Street darling. Bank shares continued their downward spiral yesterday, with the S&P Regional... More »

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National City • subprime crisis • mortgage defaults • banking industry

Mortgage Insurers Feel Pinch, Pull Back on Loans

As more home loans fail, lenders ask more of beleaguered backers

Jul 15, 08 9:51 AM CDT
(Newser) - Mortgage insurers facing mounting defaults are tightening their standards, adding another hurdle for potential homebuyers, the Wall Street Journal reports. Beleaguered and risk-averse banks are making more mortgage applicants apply for insurance, just as insurers are declaring more parts of the country “declining markets.” making insurance harder to... More »

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foreclosure • home loans • Federal Housing Administration • mortgage lender • housing crisis • subprime crisis • mortgage defaults

 June Foreclosures Jump 53% 

One in 501 US households hit with filings last month as crisis rolls on

Jul 10, 08 7:19 AM CDT
(AP) - The number of homeowners stung by the rout in the US housing market jumped last month as foreclosure filings grew by 53% over June a year ago, according to data released today. One in every 501 US households was hit with a foreclosure filing last month. More »

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Florida • California • Michigan • foreclosure • Nevada • housing crisis • mortgage defaults

 Banks Play
 Hide-and-Seek
 With Bum Loans 

Changing definition, moving mortgages to subsidiaries among tactics

Jun 19, 08 10:19 AM CDT
(Newser) - Banks are increasingly finding creative ways to lessen the impact of shaky loans on their bottom lines, shifting them to subsidiaries or changing their definition of non-performing, the Wall Street Journal reports—a legal, if not exactly confidence-inducing, strategy. "Spending all the time gaming the system rather than addressing... More »

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credit crisis • real estate values • home equity loans • mortgage defaults • bank regulation

Squatters, Scammers Move In on Foreclosed Homes

Increasingly, abandoned homes are being used for nefarious activity

May 19, 08 3:30 PM CDT
(Newser) - Add a new twist to the housing crisis: Squatters are increasingly using homes that have been abandoned for months, and con artists are scamming banks in “cash for keys” deals or luring people into “leasing” homes that actually are foreclosures sitting empty, Reuters reports. Authorities can have a... More »

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foreclosure • eviction • housing crisis • subprime crisis • mortgage defaults

Celebrity Foreclosure:
Canseco's Out at Home

Former baseball star forced to move into smaller home

May 1, 08 9:09 PM CDT
(Newser) - It can happen to the rich and famous, too: Jose Canseco's mansion is in foreclosure, and he's had to move into more modest digs, Inside Edition reports. Canseco owed more than $2.5 million on the California property his neighbors called the "hotel." He made $30 million in... More »

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foreclosure • mortgage • debt • Jose Canseco • Washington Mutual • mortgage loans • mortgage debt • mortgage lender • subprime crisis • mortgage defaults

States Act Aggressively
to Fight Foreclosures

Unwilling to wait for the federal wrangling, states make bold moves

Apr 4, 08 11:17 AM CDT
(Newser) - State lawmakers aren’t sitting around waiting for Washington to solve the mortgage crisis, the Wall Street Journal reports. Instead, many are taking aggressive steps to ease borrower pain, sometimes running afoul of lenders in the process. Illinois, Maryland, and Minnesota all have bills in the works to impose a... More »

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foreclosure • Minnesota • moratorium • borrowers • state governments • subprime crisis • mortgage defaults

Freddie Mac Reports Record $2.45B Loss

Rising defaults break mark mortgage investor set ... last quarter

Feb 28, 08 10:27 AM CST
(Newser) - 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... More »

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earnings reports • mortgage • Freddie Mac • Fannie Mae • mortgage brokers • subprime crisis • mortgage defaults • financial crisis

Home Seizures by Banks Jump 90% in Year

Lenders reclaim 45K properties as mortgage payments rise

Feb 26, 08 2:00 PM CST
(Newser) - Banks seized more than 45,000 homes in January, nearly double the number from a year ago and up 8% from December, Bloomberg reports. Rising adjustable-rate mortgage payments were the culprit. Total foreclosure filings, which include default and auction notices in addition to seizures, increased 57% to 233,001, the... More »

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foreclosure • housing sales • default • housing crisis • subprime crisis • repossessions • mortgage defaults

Monthly Foreclosures Climb Again

Figures jump 93% over 2006; 1 in every 693 households in default

Aug 22, 07 2:34 AM CDT
(Newser) - Foreclosure numbers were up big again in July, rising 9% from June’s figures and a whopping 93% from a year ago, an unwelcome sign for already reeling credit markets. Foreclosures rose in 43 states, but California, Florida, Michigan, Ohio and Georgia accounted for over half of the the activity,... More »

MORE ABOUT:
housing market • subprime mortgages • foreclosure • debt • home loans • credit market • borrowers • mortgage defaults

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