American Home Mortgage

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American Home Mortgage Closes Its Doors

ARM specialist's efforts can't hold off fallout from worsening crisis

(Newser) - The battered mortgage-lending industry will suffer another blow today as American Home Mortgage shuts down, making it the latest company to go under as home loans go bad across the country. AHM's troubles were common knowledge, the Times reports, but the speed of its downfall was unexpected. “We have... More »

Subprime Woes Rock Another Bear Stearns Fund

Withdrawals blocked, rumors swirl as market slips further

(Newser) - Bear Stearns has blocked withdrawals from a mortgage investment fund amid Wall Street jitters over the crisis in high-risk subprime mortgages, the Wall Street Journal reports. Two Bear Stearns hedge funds heavily invested in subprime mortgages collapsed in June, and now another fund, which has only a tiny fraction of... More »

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